Notes to Accounts of Vivanza Biosciences Ltd.

Mar 31, 2014

I. ADDITIONAL NOTES (Forming an integral part of Accounts)

1. In opinion of the management of the company, all loans, advances and deposits are recoverable in cash or kind for value to be received for which no provision is required. However in the opinion of the Auditors, it shall be prudent to make sufficient provision for such non performing assets amounting to Rs. 59,33,061/-.

2 Contingent liabilities for claims against company not acknowledged and not provided for amounts to Rs. 5,01,271/- (P.Y. Rs. 5,01,271/-). As ascertained and certified by the management there is no other contingent liability for which provision is required.

3 Balance of all personal accounts including Sundry debtors, Sundry creditors, Loans and Advances, Deposits etc. are subject to confirmation, reconciliation and appropriate adjustment.

4. The Composite Scheme of Re-organisation of Share Capital and Arrangement for Revival of the Company filed with the Stock Exchange and SEBI under Clause 24(f) of the Listing Agreement had been withdrawn by the Company in view of observations received from BSE requires revision of the Scheme.

5. Segment Report :

The company is exclusively engaged in the business of manufacture and sale of I.V. fluids, Pharmaceuticals products in India and there is no other segmental activities hence no separate disclosure of reportable segment is required.

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Mar 31, 2013

1. There is no movement of the shares outstanding at the beginning and at the end of the reporting period.

2. The Company has only one class of equity shares having a par value of Rs. 10 per share. Each shareholder is elligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, 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 of their shareholding.

3. Company has not alloted any bonus shares, Shares without consideration in cash and/or bought back any equity shares during the priod of five years immediately preceeding the Balance sheet date.

4. In opinion of the management of the company, all loans, advances and deposits are recoverable in cash or kind for value to be received for which no provision is required. However in the opinion of the Auditors, it shall be prudent to make sufficient provision for such non performing assets amounting to Rs. 59,33,061/-.

5 Contingent liabilities for claims against company not acknowledged and not provided for amounts to Rs. 5,01,271/- (P.Y. Rs. 5,01,271/-). As ascertained and certified by the management there is no other contingent liability for which provision is required.

6 Balance of all personal accounts including Sundry debtors, Sundry creditors, Loans and Advances, Deposits etc. are subject to confirmation, reconciliation and appropriate adjustment.

7 DISCLOSURE ON RELATED PARTIES:

Name of the related parties & nature of the relationship

A) Associate Company:

1) M/s. Ivee Plasticaa (GUJ.) Pvt. Ltd.

2) M/s. Nirman Infrastructure Ltd.

In which our Director Dr. N. V. Vasavada is director. Inter corporate loan & advances given to them earlier which remains outstanding as on 31.03.2013 Rs. 31,35,000/- maximum balance during the year Rs. 31,35,000/- in opinion of auditor same is doubtful of recovery however the directors are hopeful of recovery.

8. Segment Report :

The company is exclusively engaged in the business of manufacture and sale of Ivee fluids, Pharmaceuticals products in India and there is no other segmental activities hence no separate disclosure of reportable segment is required.

9. Earning & Expenditure in Foreign Currency : NIL

10. Previous year figures have been regrouped and/or rearranged whenever necessary.

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Mar 31, 2011

1) No Provision for gratuity and earned leave has been made in accordance with labour law consultant's advice. Actuarial valuation in this regard is yet to be made.

2) Company has in earlier year adjusted the debit balance of Profit & Loss account aggregating to Rs. 96,27,661/- against the credit lying in revaluation reserve account, which in the opinion of auditors, is not in the accordance with the Accounting Standard recommended by the Institute of Chartered Accountants of India. As a result of this adjustment, the credit balance of revolution reserve and debit balance of Profit & Loss A/c gets under stated by the said sums. The management of the Company intends to pass corrective entries, if required prior to declaration of dividend.

3) Contingent liabilities for claims against company not acknowledged and not provided for amounts to Rs. 5,01,271/- (P.Y. Rs. 5,01,271/-). As ascertained and certified by the management there is no other contingent liability for which provision is required.

4) Considering the carried forward assessed losses no provision of Income Tax is required.

5) Balance of all personal accounts including Sundry debtors, Sundry creditors, Loans and Advances, Deposits etc. are subject to confirmation, reconciliation and appropriate adjustment.

6) DISCLOSURE ON RELATED PARTIES:

Name of the related parties & nature of the relationship A) Associate Company:

1) M/s. Ivee Plasticaa (GUJ.) Pvt. Ltd.

2) M/s. Nirman Infrastructure Ltd.

In which our Director Dr. N. V. Vasavada is director. Inter corporate loan 8, advances given to them earlier which remains outstanding as on 31.03.2011 Rs. 31,35,000/- maximum balance

during the year Rs. 31,35,000/- in opinion of auditor same is doubtful of recovery however the directors are hopeful of recovery.

B) Key Management Person : 1) Mr. H. D. Nanavati - M.D.

7) Segment Activities Discloser:

The company is exclusively engaged in the business of manufacture and sale of Ivee fluids, Pharmaceuticals products in India and there is no other segmental activities hence no separate disclosure of reportable segment is required.

8) Accounting for Taxes on Income:

Considering the loss in the current year, accounting for taxes on income for current year's tax liability is NIL. The management of the Company is of the opinion that there is virtual uncertainty of realization of the benefit of past losses and differed tax assets. As such the accounting of such deferred tax assets and taxes thereon is not recognized.

9) In absence of any manufacturing activity, the particulars required under Clause 4C & 4D of Part - II of Schedule - VI is not given.

10) Earning & Expenditure in Foreign Currency : NIL

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Mar 31, 2010

Not Available