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Notes to Accounts of Shiva Medicare Ltd.

Mar 31, 2014

List of parties with whom transactions have taken place during the year:

1) Entities under common control

a) Shiva Paper Mills Limited

b) Shiva Services Limited

c) R.N.Finance Limited

d) Shiva Kymen Sukka Limited

2) Key Managerial Personnel

a)Sh.Amit Jain

3) Relatives of Key Management Personnel

a) Sh.Parmod Jain

b) Sh.Parmod Jain HUF

c) Smt. Kiran Jain

d) Sh. Rajat Jain

1.1 Others

i) In the opinion of the management and read with the other notes, the current assets, loans and advances are expected to realize at least the amount/at which they are stated, if realized in the ordinary course of business and provision for all known liabilities has been adequately made in the accounts

ii) The Company has not complied with the provisions of section 383A of the Companies Act 1956 relating to the appointment of a full time Company Secretary keeping in view of its financial position and non-availability to get a suitable person considering the financial sickness of the Company

iii) No provision for Income Tax is necessary in view of the accumulated losses. Also the accumulated deferred tax assets (net) have not been recognized keeping in view the consideration of prudence in accordance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Company will reassess the unrecognized deferred tax assets in subsequent period having regard to the future developments

iv) Paise have been rounded off to nearest rupee.

v) Previous Year''s figures have been regrouped and / or rearranged.


Mar 31, 2013

I) In the opinion of the management and read with the other notes, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities has been adequately made in the accounts

ii) The Company has not complied with the provisions of section 383A of the Companies Act 1956 relating to the appointment of a full time Company Secretary keeping in view of its financial position and non-availability to get a suitable person considering the financial sickness of the Company

iii) No provision for Income Tax is necessary in view of the accumulated losses. Also the accumulated deferred tax assets (net) have not been recognized keeping in view the consideration of prudence in accordance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Company will reassess the unrecognized deferred tax assets in subsequent period having regard to the future developments

iv) Paise have been rounded off to nearest rupee.

v) Previous Year''s figures have been regrouped and / or rearranged.


Mar 31, 2011

1. Contingent liabilities not provided for in respect of

Current Year Previous Year

Cess Due on Rubber including interest Rs. 395,453/- Rs.395,453/- 2. During the year ending 31st March 2006, the co. has sold its entire plant & Machinery and Building for a Lump sump consideration of Rs. 1.55 crore. Out of total consideration of Rs 1.55 crore, Rs. 15,00,000 is still recoverable by the co. from M/s. T.S. Enterprises, Chennai as on 31.03.2011

3. The company has not provided for interest payable of Rs. 709,800/- (Previous year Rs.709,800) on unsecured loans on account of poor financial position of the company. The accumulated non-provision of the interest is Rs.7213439/-(Previous Year Rs.6503639/-)

4. In the opinion of the management and read with the other notes, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realised in the ordinary course of business and provision for all known liabilities has been adequately made in the accounts.

5. The company has not complied with the provision of section 383A of the companies Act 1956 relating to the appointment of a full time company secretary keeping in view of its financial position and non-availability to get a suitable person considering the financial sickness of the company.

6. No provision of Income Tax is necessary in view of the accumulated losses. Also the accumulated deferred tax assets (net) have not been recognized keeping in view the consideration of prudence in accordance with the Accounting Standard 22 " Accounting for Taxes on Income" issued by the institute of Chartered Accountants of India. Company will reassess the unrecognized deferred tax assets in subsequent period having regard to the future developments.

7. Figures have been rounded off to the nearest rupee.

8. Previous years figures have been regrouped/re-classified wherever necessary.


Mar 31, 2010

1. Contingent liabilities not provided for in respect of cuss due on Rubber including interest Current Yes Previous Yea Rs,395,453 Rs,395,453

2. During the year ending 31st March 2008, the co, has sold its entire Plant & Machinery and building for a lump sump consideration of Rs.1.55 Croree. Out of total consideration of RS.1.55 CRORE RS. 15.00.000 is still recoverable by the co from M/s T.S Enterprises Chennai as on 31.03.2010

3. The company has not provided for interest payable of Rs.709,800/- previous year Rs.709,800) on secured loans on account of poor financial position of thee company thee accumulated non-provisions of the interest is Rs 6.503.639 (Previous Year Rs,5.793.839)

4. In the opinion of the management and read with he other notes, the current assets bans and advances are expected to realize at least the amount at which they are stayed, if realised in the ordinary course of business and provisions for all known liabilities has been adequately made in the accounts.

5. The company has not compiled with the provisions of sections 383 A of the companies Act, 1956 relating to the appointment of a full time company secretary keeping in view of its financial position and non availability to get a suitable person considering the financial sickness of the company.

6. As per the information with the company the names of the suppliers covered under the Micro, small & Medium Enterprises development Act, 2006 are as under:

7. No provisos for income Tax is necessary in view of the accumulated losses the accumulated deferred tax assets have not been keeping in view the consideration in accordance with the accounting standard 22 Accounting for taxes or income issued of Chartered Accounts of India. Company will reassess the unrecognized deferred tax assists in subsequent having regard to the future developments.

8. Related party disclosures as required as per AS-17 issued by the institute of Chartered Accounts of India.

9. Figures have been rounded off to the nearest rupee.

10. Previous years figures have been regrouped class field wherever necessary.

 
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