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Notes to Accounts of Trans Medicare Ltd.

Mar 31, 2015

1. HISTORY:

M/s Trans Medicare Limited was incorporated on 3rd day of January, 1989 and having its registered office at H.No.3-179/NR, Plot No.179, Guttalabegampet-S1, Phase II, Kavuri Hills, Madhapur, Hyderabad- 500081.

2. The Company is engaged in the business of Manufacture of Pharmaceutical formulations like Tables, Capsules, Liquid orals, Ointments etc. and to deal, export & import, all such pharmaceutical cosmetics and related Products, organic or inorganic chemicals, bulk drugs, drug intermediates, dyes, dye-intermediates pharmaceutical formulations and any other related products. buy, sell, export, import keep, store, merchandise, trade and deal in chemicals, bulk, drugs, drug intermediates, pharmaceuticals, dyes, fuel coal power and any other goods or articles.

3. Security:

The above Term Loan is secured by the plant situated at sholapur. The management has not made 'provision for interest' on this loan during the current year. Based on the representation made by the management, the company is seeking for One Time Settlement of this loan which is not finalized.

4. Unsecured Loans:

All the unsecured loans are from group companies and KMP and entities belonging to the KMP. All are non interest bearing and no terms and conditions are stipulated with respect to repayment of these loans.

5. SECURITY DEPOSITS

The following security deposits made with various authorities are written of completely due to their non recoverability nature.

6. CAPITAL WORKS IN PROGRESS

The Company has the Capital Works in Progress of worth ' 33,41,287/- since the financial year 1991-92. The work in progress has been stopped from that financial year. Management has decided to write off the same after considering residual at 2% of the cost of the Capital Works in Progress. Accordingly an amount of ' 32,74,461/- is written off and shown in the prior period items head in the statement of profit and loss.

7. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided for):

i) Contingent Liabilities

The company has given the corporate guarantee in connection with the loan taken by the following two associated companies.

Sl. Name of the Date of Name of Amount Status No. Associated guarantee the lender of loan company

1 Nandini 24-12-2013 SBI 89.50crores NPA Industries India Pvt Ltd

Techtrans 18-06-2013 SBI 38.52crores NPA Construction 2 India Pvt Ltd

Particulars of property charged: Extension of EM on land along with factory building admeasuring 2 acres in plot no. 11/4, IDA, NACHARAM, RR DIST standing in the name of the Company.

ii) Commitment against capital contracts yet to be executed - Nil

iii) Commitment against revenue contracts yet to be executed - Nil

17. Segment Reporting:

As the Company has only one business and geo graphical segment, So Segment reporting as per AS-17 is not Applicable.

8. Note on Consolidated Financial Statements:

Based on our observations the TRANS MEDICARE LIMITED (TML) has 22.82 % shareholding interest (direct interest) in TRANS GEL INDUSTRIES LIMITED. So, it is the associate company and the TML has to prepare the consolidated financial statements as per section 129 (3). But the rule 6 of the Companies (Accounts) rules, 2014 is not applicable for the financial year 2014-15 if the parent company has no one or more subsidiaries but having only associates and joint ventures. So consolidated financial statements of TML are not prepared for the FY 2014-15.

9. Previous year figures have been regrouped / re arranged / reclassified wherever considered necessary to conform to the classification of the current year.


Mar 31, 2014

1. Corporate information

M/s Trans Medicare Ltd (the "Company") to carry out the business of Manufacture of Pharmaceutical formulations like tablets, capsules, liquid orals, ointments etc and to deal export & import all such pharmaceutical cosmetics and related products. And also carry out Manufacture of organic or inorganic chemicals, bulk drugs, drug intermediaries, dyes, dye- intermediates pharmaceutical formulations and any other related products.

As of March 31, 2014, the company directors have the ability to control its operating and financial policies. The Company''s registered office is in Hyderabad.

2. Rights, preferences and restrictions attached to shares Equity Shares

The Company has one class of equity shares having a par value of Rs. 10 each. Each shareholder is eligible for one vote per share held.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding

3. The amount of unsecured loans Rs.8,17,32,891/- are from directors and inter corporate borrowings as on 31.03.2014.

4. The assets at Sholapur unit were seized by Maharashtra State Financial Corporation Ltd, Pune against the secured loan payable to them. However in the absence of written communication to the company about the amount appropriated on seizure of the unit, value of fixed assets is not modified.

5. The term loan from MSFC is secured by first charge on plant and machinery and other fixed assets located at bulk drug unit, Sholapur In view of OTS offer from MSFC interest on principal outstanding was not provided for the current year.

6. Sundry Debtors, deposits from customers and creditors for goods & services are subject to confirmation..

7. The term loan from MSFC is secured by first charge on plant and machinery and other fixed assets located at bulk drug unit, Sholapur In view of OTS offer from MSFC interest on principal outstanding was not provided for the current year.


Mar 31, 2013

1) Corporate information

M/s Trans Medicare Ltd {the "Company") to carry out the business of Manufacture of Pharmaceutical formulations like tablets, capsules, liquid orals, ointments etc and to deal export & import all such pharmaceutical cosmetics and related products. And also carry out Manufacture of organic or inorganic chemicals, bulk drugs, drug intermediaries, dyes, dye- intermediates pharmaceutical formulations and any other related products.

As of March 31, 2013, the company directors have the ability to control its operating and financial policies. The Company''s registered office is in Hyderabad.

2. The amount of unsecured loans Rs.8, 00, 47,412/- are from directors and inter corporate borrowings as on 31.03.2013.

3. The assets at Sholapur unit were seized by Maharashtra State Financial Corporation Ltd, Pune against the secured loan payable to them. However in the absence of written communication to the company about the amount appropriated on seizure of the unit, value of fixed assets is not modified.

4. The term loan from MSFC is secured by first charge on plant and machinery and other fixed assets located at bulk drug unit, Sholapur In view of OTS offer from MSFC interest on principal outstanding was not provided for the current year.

5. Sundry Debtors, deposits from customers and creditors for goods & services are subject to confirmation. Long standing entries outstanding in the Debtors and creditors were transferred to miscellaneous balances written off account due to non availability of any written communication from the parties and the net balance of miscellaneous balances written off account was transferred to Profit and Loss Account.

6. There are no amounts payable to Small Scale Industrial Units for amount of Rs. 1,00,000/- or more during the year.

CALCULATION OF DEFERRED TAX LIABILITY /ASSET

In accordance with Accounting Standard AS-22 relating to "Accountings for Taxes on Income " issued by the Institute of Chartered Accountants of India, the company has calculated the net deferred tax asset arising out of timing differences. The net deferred tax asset for the current financial year is not adjusted to the Profit and Loss Account in view of the uncertainty of earning taxable income in future.

7. The Company has no reportable segments under AS-17

The company has invested in equity shares of 2950000 @ RslO each of M/s Trans Gel Industries Limited (Associate), related party of the company.

8. No Provision for income tax is made in the absence of taxable profits.

9. Previous figures are regrouped wherever necessary.


Mar 31, 2012

A) Rights, preferences and restrictions attached to shares Equity shares

The Company has one class of equity shares having a par value of' 10 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding

1. The amount of unsecured loans Rs.7,99,32,478/- are from directors and inter corporate borrowings.

2. The assets at Sholapur unit were seized by Maharashtra State Financial Corporation Ltd, pune against the secured loan payable to them. However in the absence of written communication to the company about the amount appropriated on seizure of the unit, value of fixed assets is not modified.

3. The term loan from MSFC is secured by first charge on plant and machinery and other fixed assets located at bulk drug unit, Sholapur. In view of OTS offer from MSFC interest on principal outstanding was not provided for the current year.

4. The working capital limits from Union Bank of India are secured by the Hypothecation of inventory located at Sholapur and guaranteed by the directors of the Company. In the absence of written confirmation from bank with regard to limits availed from them for more than seven years, company has adjusted loan with the reserves of the company.

5. Sundry Debtors, Deposits from customers and creditors for goods & services are subject to confirmation.

6. An amount of Rs.25,22,800/- (US $58,700.00) was received by the Company in foreign exchange as advance against supply of goods during 1998-99. Since the goods are not supplied the same is shown as advance against supplies.

7. There are no amounts payable to Small Scale Industrial Units for an amount of Rs.l,00,000/-or more during the year.

CALCULATION OF DEFERRED TAX LIABILITY/ASSET

In accordance with the Accounting Standard AS-22 relating to 'Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India , the company has calculated the net deferred tax asset arising out of timing differences. The net deferred tax asset for the current financial year is not adjusted to the Profit and Loss Account in view of the uncertainity of earning taxable income in future.

8. The Company has no reportable segments under AS-17.

The Company has invested in Equity shares of 29,50,000 @Rs.l0 each of M/ s. Trans Gel Industries Limited (Associate), a related party of the company.

9. No provision for income tax is made in the absence of taxable profits.

10. Previous figures are regrouped wherever necessary.

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