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Accounting Policies of Veerhealth Care Ltd. Company

Mar 31, 2015

(a) Basis of Accounting:

The financial statement are Prepared in accordance with Indian Generally Accepted Accounting Principles ("GAAP”) under the historical cost convention, on the accruals basis. Except in respect of assets classified as Non Performing Assets (NP)

(b) Use of Estimates

The presentation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that may affect the reported amount of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those of estimated.

(c) Revenue Recognition:

(i) Sale of goods:

Revenue from the sale of goods is recognized when significant risks and rewards in respect of ownership of the goods are transferred to the customer, as per the terms of the respective Sales Order.

(ii) Interest

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable

(iii) Dividend

Dividend Income from investments are recognized when the right to receive payment established.

(d) Fixed Assets

Fixed Assets are stated at cost, less accumulated depreciation and impairment losses. Cost includes all expenditure necessary to bring the assets to its working conditions for its intended use.

(e) Depreciation and Amortisation

Depreciation is provided on the straight line method based as per the rate specified in Schedule II of the Companies Act, 2013.

(f) Investments

Long-term investments are carried at cost. However, Provision is made to recognize, other than temporary, in the value of long-term investments.

Current Investments ar carried at lower of cost and fair values, determined on individual basis.

(g) Inventories

Inventories are at lower of cost and net realizable value. Cost is determined on the weighted average basis, net realizable value is determined by management using technical estimates.

(h) Borrowing Costs

Borrowing cost that are directly attributable to the acquisition, construction or production of qualifying assets are capitalised as part of the cost of such assets. A quality asset is one that necessarily takes substantial period of time to get readly for intended use. All other borrowing costs are changed to revenue.

(i) Retirement and other employee benefits

The Company has adopted the policy to provide for the Liability for gratuity and leave encashment benefits on actuarial valuation.

(j) Provisions, Contingent liabilities and contingent Assets.

A Provision is recognized when the Company has a Present obligation as a result of past events and it is probable that an out flow of resources will be required to settle the obligation, in respect of which are reliable estimate can be made. Provisions are not discounted to their present value and are determined based on estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed by way of Notes to the account. Contingent assets are not recognized.

(k) Provision for current and deferred tax

Provision for current income tax is made in accordance with the Income Tax Act,1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting income that original in one period are capable of reversal in one or more subsequently period.

(l) Impairments

Impairment loss is recognized wherever the carrying amount of an asset is in excess of its recoverable amount and the same is recognized as an expense in the statement of Profit and Loss and carrying amount of the asset is reduced to its recoverable amount.

(m) Earning Per Share

Basic earnings per Share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period are adjusted for any bonus shares issued during the year and also after the balance sheet date but before the ate the financial statements are approved by the Board of Directors.

For the purpose of calculating diluted earnings per share, the net profit for period attributed to equity shareholders and the weight average number of share outstanding during the period adjusted for the effects of all dilative potential equity shares.

The number of equity shares are potential dilative equity shares are adjusted for bonus as appropriate.


Mar 31, 2014

(a) Basis of Accounting:

The financial statement are Prepared in accordance with Indian Generally Accepted Accounting Principles ("GAAP") under the historical cost convention, on the accruals basis. Except in respect of assets classified as Non Performing Assets (NP)

(b) Use of Estimates

The presentation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that may affect the reported amount of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those of estimated.

(c) Revenue Recognition:

(i) Sale of goods:

Revenue from the sale of goods is recognized when significant risks and rewards in respect of ownership of the goods are transferred to the customer, as per the terms of the respective Sales Order.

(ii) Interest

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable

(iii) Dividend

Dividend Income from investments are recognized when the right to receive payment established.

(d) Fixed Assets

Fixed Assets are stated at cost, less accumulated depreciation and impairment losses. Cost includes all expenditure necessary to bring the assets to its working conditions for its intended use.

(e) Depreciation and Amortisation

Depreciation is provided on the straight line method based as per the rate specified in Schedules XIV of the Companies Act, 1956.

(f) Investments

Long-term investments are carried at cost. However, Provision is made to recognize, other than temporary, in the value of long-term investments.

Current Investments are carried at lower of cost and fair values, determined on individual basis.

(g) Inventories

Inventories are at lower of cost and net realizable value.

Stock of land is valued at lower of cost and net realizable value. Cost is determined on the weighted average basis, net realizable value is determined by management using technical estimates.

(h) Borrowing Costs

Borrowing cost that are directly attributable to the acquisition, construction or production of qualifying assets are capitalised as part of the cost of such assets. A quality asset is one that necessarily takes substantial period of time to get readly for intended use. All other borrowing costs are changed to revenue.

(i) Retirement and other employee benefits

The Company has adopted the policy to provide for the Liability for gratuity and leave encashment benefits on actuarial valuation.

(j) Provisions. Contingent liabilities and contingent Assets.

A Provision is recognized when the Company has a Present obligation as a result of past events and it is probable that an out flow of resources will be required to settle the obligation, in respect of which are reliable estimate can be made. Provisions are not discounted to their present value and are determined based on estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed by way of Notes to the account. Contingent assets are not recognized.

(k) Provision for current and deferred tax

Provision for current income tax is made in accordance with the Income Tax Act,1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting income that original in one period are capable of reversal in one or more subsequently period.

(l) Impairments

Impairment loss is recognized wherever the carrying amount of an asset is in excess of its recoverable amount and the same is recognized as an expense in the statement of Profit and Loss and carrying amount of the asset is reduced to its recoverable amount.

(m) Earning Per Share

Basic earnings per Share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period are adjusted for any bonus shares issued during the year and also after the balance sheet date but before the ate the financial statements are approved by the Board of Directors. For the purpose of calculating diluted earnings per share, the net profit for period attributed to equity shareholders and the weight average number of share outstanding during the period adjusted for the effects of all dilative potential equity shares.

The number of equity shares are potential dilative equity shares are adjusted for bonus as appropriate.

(n) Share Issue Expenses

The share issue expenses is carried as an asset and is amortised over a period of 5 years


Mar 31, 2013

(a) Basis of Accounting:

The financial statement are Prepared in accordance with Indian Generally Accepted Accounting Principles ("GAAP") under the historical cost convention, on the accruals basis.Except in respecr of assets classified as Non Performing Assets (NP)

(b) Use of Estimates

The presentation of financial statements in confirmity with the generally accepted accounting principles requires estimates and assumptions to be made that may affect the reported amount of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those of estimated. (c ) Revenue Recognition:

(i) Sale of goods:

Reveune from the sale of goods is recognized when significant risks and rewards in respect of ownership of the goods are transferred to the customer, as per the terms of the respective Sales Order. (ii) Interest

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable (iii) Dividend Dividend Income from investments are recognized when the right to receive payment established.

(d) Fixed Assets

Fixed Assets are stated at cost, less accumulated depreciation and impairment losses. Cost includes all expenditure necessary to bring the assets to its working conditions for its intended use.

(e) Depreciation and Amortisation

Depreciation is provided on the straight line method based as per the rate specified in Schedules XIV of the Companies Act, 1956.

(f) Investments

Long-term investments are carried at cost. However, Provision is made to recognize, other than temporary, in the value of long-term investments.

Current Investments ar carried at lower of cost and fair values, determined on individual basis.

(g) Inventories

Inventories are at lower of cost and net realizable value.

Stock of land is valued at lower of cost and net realizable value. Cost is determined on the weighted average basis, net realizable value is determined by management using technical estimates.

(h) Borrowing Costs

B orrowing cost tha t are directly attributable to the acquisition, construction or production of qualif ying assets are capitalised as part of the cost of such assets. A qulity asset is one that necessarily takes substantial period of time to get readly for intended use. All other borrow ing costs are changed to revenue. (i) Retirment and other employee benefits

The Company has adopted the policy to provide for the Liability f or gratuity and leav e encas hment benefits on actuarial v aluation. (j) Provisions, Contingent liabilities and contingent Assets.

A Provision is recognized w hen the Company has a Present obligation as a result of past events and it is probable that an out f low of resources w ill be required to settle the obligation, in respect of w hich are reliable estimate can be made. Provisions are not discounted to their present value and are determined based on estimate required to settle the obligation at the balance sheet date. These are review ed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liablities are disclosed by w ay of Notes to the account. Contingent assets are not recognized.

(k) Provision for current and deferred tax

Provision for current income tax is made in accordance w ith the Income Tax Act,1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence, on timing difference, being the differnce betw een taxable income and accouonting income that original in oone period arecapable of reversal in one or more subsequently period.

(l) Impairments

Impairment loss is recognizede w herever the carrying amount of an asset is in excess of its recoverable amount and the same is recognized as an expense in the statement of Profit and Loss and carrying amount of the asset is reduced to its recoverable amount. (m) Earning Per Share

(m) Basic earnings per Share are calculated by dividing the net profit for the period attributable to equity shareholders by the eighted average number of equity shares outstanding during the period. The w eighted average number of equity shares oustanding during the period are adjusted for any bonus shares issued during the year and also after the balance sheet date but before the ate the financial statements are approved bythe Board of Directors.

For the purpose of calculating diluted earnings per share, the net profit for period attributed to equity shareholders and the w eight average number of share outstanding during the period adjusted for the effects of all dilaative potenial equity shares.

The number of equity shares are potenial dilative equity shares are adjusted for bonus as appropriate.

(n) Share Issue Expenses

The share issue expenses is carried as an asset and is amortised over a period of 5 years


Mar 31, 2012

(a) Basis of Accounting:

The financial statement are Prepared in accordance with Indian Generally Accepted Accounting Principles ("GAAP") under the historical cost convention, on the accruals basis.Except in respecr of assets classified as Non Performing Assets (NP)

(b) Use of Estimates

The presentation of financial statements in confirmity with the generally accepted accounting principles requires estimates and assumptions to be made that may affect the reported amount of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those of estimated.

(c ) Revenue Recognition:

(i) Sale of goods:

Reveune from the sale of goods is recognized when significant risks and rewards in respect of ownership of the goods are transferred to the customer, as per the terms of the respective Sales Order.

(ii) Interest

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable

(iii) Dividend

Dividend Income from investments are recognized when the right to receive payment established.

(d) Fixed Assets

Fixed Assets are stated at cost, less accumulated depreciation and impairment losses. Cost includes all expenditure necessary to bring the assets to its working conditions for its intended use.

(e) Depreciation and Amortisation

Depreciation is provided on the straight line method based as per the rate specified in Schedules XIV of the Companies Act, 1956

(f) Investments

Long-term investments are carried at cost. However, Provision is made to recognize, other than temporary in the valu of the long term investments.

Current Investments ar carried at lower of cost and fair values, determined on individual basis.

(g) Inventories

Inventories are at lower of cost and net realizable value.

Stock of land is valued at lower of cost and net realizable value. Cost is determined on the weighted average basis, net realizable value is determined by management using technical estimates.

(h) Borrowing Costs

Borrowing cost that are directly attributable to the acquisition, construction or production of qualifying assets are capitalised as part of the cost of such assets. A qulity asset is one that necessarily takes substantial period of time to get readly for intended use. All other borrowing costs are changed to revenue.

(i) Retirment and other employee benefits

The Company has adopted the policy to provide for the Liability for gratuity and leave encashment benefits on actuarial valuation.

(j) Provisions, Contingent liabilities and contingent Assets.

A Provision is recognized when the Company has a Present obligation as a result of past events and it is probable that an out flow of resources will be required to settle the obligation, in respect of which are reliable estimate can be made. Provision are not discounted to their present value and are determined based on estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liablities are disclosed by way of Notes to the account. Contingent assets are not recognized.

(k) Provision for current and deferred tax

Provision for current income tax is made in accordance with the Income Tax Act,1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence, on timing difference, being the differnce between taxable income and accouonting income that original in oone period arecapable of reversal in one or more subsequently period.

(l) Impairments

Impairment loss is recognizede wherever the carrying amount of an asset is in excess of its recoverable amount and the same is recognized as an expense in the statement of Profit and Loss and carrying amount of the asset is reduced to its recoverable amount.

(m) Earning Per Share

Basic earnings per Share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares oustanding during the period are adjusted for any bonus shares issued during the year and also after the balance sheet date but before the ate the financial statements are approved bythe Board of Directors.

For the purpose of calculating diluted earnings per share, the net profit for period attributed to equity shareholders and the weight average number of share outstanding during the period adjusted for the effects of all dilaative potenial equity shares. The number of equity shares are potenial dilative equity shares are adjusted for bonus as appropriate.

(n) Share Issue Expenses

Share issue expenses are redemption premium are adjusted against the Securities Premium Account as permissble under Section 78(2) of the Companies Act, 1956, to the extent balance is available for utilisation in the Securities Premium Account. The balance of share issue expenses is carried as an asset and is amortised over a period of 5 years


Mar 31, 2011

1. BASIS OF ACCOUNTING :

The financial statement is prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accruals basis. Except in respect of assets classified as Non-Performing Assets (NP).

2. USE OF ESTIMATES :

The presentation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that may affect the reported amount of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual Results could differ from those of estimated.

3. REVENUE RECOGNITION :

a) SALE OF GOODS: Revenue from sale of goods is recognized when significant risks and rewards in respect of ownership of the goods are transferred to the customer, as per the terms of the respective Sales order.

b) INTEREST: Interest Income is recognized on a time proportion basis taking in to account the amount outstanding and the rate applicable.

c) DIVIDEND: Dividend income from Investments is recognized when the right to receive payment is established.

d) INCOME FROM LEASE & HIRE CHARGES: In respect of lease management fees and lease rentals arising out of lease agreements and hire purchase charges & services charges arising out of hire purchase agreements it is the company's general policy to accrue the income as per the terms of the agreements entered into with lessees/hirers from time to time. In respect of hire purchases business, the company recognizes income on declining balance basis based on rates implicit in the transaction.

4. FIXED ASSETS: Fixed Assets are stated at cost of acquisition or construction less accumulated depreciation and impairment losses. Cost includes all expenditure necessary to bring the assets to its working conditions for intended use.

5. Depreciation: Depreciation is provided on the straight-line method based as per the rates specified in Schedule XIV of the Companies Act, 1956.

6. INVESTMENTS: Long term investments are valued at Cost of Acquisition Accordingly no provision is made for temporary diminution in the value of such Investments. Current investments are carried at lower of cost and fair values determined on individual basis Inventories: Equity Stock at the end is valued at cost & other stock is valued at cost or market value whichever is less.

7. INVENTORIES: Inventories are at lower of cost or net realizable value. Stock of land is valued at lower of cost or net realizable value. Cost is determined on the weighted average basis, net realizable value is determined on individual basis.

8. BORROWING COST: Borrowing Cost that are directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. A quality asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.

9. RETIREMENT AND OTHER EMPLOYEE BENEFIT: Gratuity is accounted for on cash basis.

10. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS: A provision is recognized when the Company has a present obligation as a results of past events and it is probable that an out flow of resources will be required to settle the obligation, in respect of which are reliable estimates can be made. Provisions are not discounted to their present value and are determined based on estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed by way of Notes to the account. Contingent Assets are not recognized.

11. TAXATION: Provision for current income tax is made in accordance with the Income Tax Act,1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting income that original in one period and are capable of reversal in one or more subsequently period.

12. IMPAIRMENT: It is a policy of the Company that Impairment loss is recognized wherever the carrying amount of an asset is in excess of its recoverable amount and the same is recognized as an expense in the statement of Profit and Loss and carrying amount of the asset is reduced to its recoverable amount.

13. EARNING PER SHARE: Basic earnings Per Share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period are adjusted for any bonus shares issued during the year and also after the balance sheet date but before the date the financial statements are approved by the Board Of Directors. For the purpose of calculating diluted earnings per share, the net profit for the period attributed to equity shareholders and the weight average number of share outstanding during the period adjusted for the effects of all dilutive potential equity shares.

II. The number of equity shares and potential dilutive equity shares are adjusted for bonus as appropriate.


Mar 31, 2010

1) Basis of Accounting: The financial statement is prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accruals basis. except in respect of assets classified as Non- Performing Assets (NP).

2) Use of Estimates: The presentation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that may affect the reported amount of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual Results could differ from those of estimated.

3) Revenue Recognition :

a. Sale of Goods: Revenue from sale of goods is recognized when significant risks and rewards in respect of ownership of the goods are transferred to the customer, as per the terms of the respective Sales order.

b. Interest: Interest Income is recognized on a time proportion basis taking in to account the amount outstanding and the rate applicable.

c. Dividend: Dividend income from Investments is recognized when the right to receive payment is established.

d. Income from Lease & Hire Charges: In respect of lease management fees and lease rentals arising out of lease agreements and hire purchase charges & services charges arising out of hire purchase agreements it is the company’s general policy to accrue the income as per the terms of the agreements entered into with lessees/hirers from time to time. In respect of hire purchases business, the company recognizes income on declining balance basis based on rates implicit in the transaction.

4) Fixed Assets: Fixed Assets are stated at cost of acquisition or construction less accumulated depreciation and impairment losses. Cost includes all expenditure necessary to bring the assets to its working conditions for intended use.

5) Depreciation: Depreciation is provided on the straight-line method based as per the rates specified in Schedule XIV of the Companies Act, 1956.

6) Investments: Long term investments are valued at Cost of Acquisition. Accordingly no provision is made for temporary diminution in the value of such Investments. Current investments are carried at lower of cost and fair values determined on individual basis

7) Inventories: Inventories are at lower of cost or net realizable value. Stock of land is valued at lower of cost or net realizable value. Cost is determined on the weighted average basis, net realizable value is determined on individual basis.

8) Borrowing Cost: Borrowing Cost that are directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. A quality asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.

9) Retirement and other employee benefit: Gratuity is accounted for on cash basis.

10) Provisions, contingent liabilities and contingent assets: A provision is recognized when the Company has a present obligation as a results of past events and it is probable that an out flow of resources will be required to settle the obligation, in respect of which are reliable estimates can be made. Provisions are not discounted to their present value and are determined based on estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed by way of Notes to the account. Contingent Assets are not recognized.

11) Taxation: Provision for current income tax is made in accordance with the Income Tax Act,1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting income that original in one period and are capable of reversal in one or more subsequently period.

12) Impairment: It is a policy of the Company that Impairment loss is recognized wherever the carrying amount of an asset is in excess of its recoverable amount and the same is recognized as an expense in the statement of Profit and Loss and carrying amount of the asset is reduced to its recoverable amount except for the assets where law suits are pending for any dispute.

13) Earning Per Share Basic earnings Per Share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period are adjusted for any bonus shares issued during the year and also after the balance sheet date but before the date the financial statements are approved by the Board Of Directors. For the purpose of calculating diluted earnings per share, the net profit for the period attributed to equity shareholders and the weight average number of share outstanding during the period adjusted for the effects of all dilutive potential equity shares. The number of equity shares and potential dilutive equity shares are adjusted for bonus as appropriate.