Mar 31, 2015
1. SHARE CAPITAL
a. Terms/Rights attached to Equity Shares
The company has only one class of equity shares having the par value of
Rs. 10/- each. Each holders of equity share is entitled to one vote per
share.
b. Aggregate number of bonus shares issued, Shares issued for
consideration other than cash and shares bought back during the period
of five years immediately preceding the reporting date.
The company has neither issued any bonus share nor any share for
consideration other than cash in the immediately proceeding last five
years.
2. Leases
The company has taken leased office space under cancellable operating
leases. The lease rental expenses recognized in the statement of Profit
& Loss account for the year in respect of such leases is Rs 6,90,000/-
(previous year Rs 6,00,000/-).
3. Legal & Professional Charges
Legal & Professional charges include the following payments to Auditors
(exclusive of service tax and out of pocket expenses);
4. Balances appearing in debtors and creditors account, whether debit
or credit, are subject to confirmation.
Mar 31, 2014
Net Deffered Tax Liability
Deffered tax asset/liability are recognized for all timing differences.
The carrying amount of Deffered tax asset are reviewed at each
reporting date. The Deffered tax asset are recognized only to the
extent that there is reasonable certainity that suffcient furure
taxable income will be available against which such asset can be
realized.
1.1 As per the information available with the Company, it has no
outstanding dues in respect to the Micro, Small and Medium Enterprises
at the year end therefore, no disclosure is required under the Micro,
Small and Medium Enterprises Development Act, 2006.
2. Leases
The company leases office space under cancellable operating leases. The
lease rental expenses recognized in the statement of Profit & Loss
account for the year in respect of such leases is Rs 6,00,000/-
(previous year Rs 7,65,000/-).
3. Legal & Professional Charges % .
Legal & Professional charges include the following payments to Auditors
(exclusive of service tax and out of pocket expenses);
4. Balances appearing in debtors and creditors account, whether debit
or credit, are subject to confirmation.
5. The revised schedule VI has become effective from 1st April, 2011
for the preparation of Financial Statements. This has significantly
impacted the disclosures and presentations made in the Financial
Statements. Previous period figures have been regrouped/reclassified,
wherever necessary to confirm current years classification.
Mar 31, 2013
Contingent Liability :
Bank Guarantees issued are Rs 17.50 lacs of 100% margin.
1 The margin for bank guarantees is shown by the company under the head
Fixed Deposits.
2 As per approval received from RBI and as per the Technology Transfer
Agreement Technical know how fees was payable of Rs. 493.22 lac by the
company in previous year and shown as capital work in progress.
Against this a sum of Rs. 169.83 lac is still payable. The company has
received a letter from M/s Biocore Medical Technologies, Inc. waiving
off the payable amount. The Company has informed RBI on the matter and
is waiting for their response to write back the liability.
In view of the letter obtained by the company from M/s Biocore Medical
Technologies, Inc. the retainable value of the technology is higher
them its book value as the technology is being used in India and
Abroad.
3 As per the legal advise obtained by the Company most of unsecured
loans in the form of fixed deposits and bonds are overdue and barred by
limitation hence provision of interest is not made.
4 Some of the balances appearing under Sundry Debtors are subject to
confirmation and reconciliation and.consequent adjustments arising out
there from would be done in the year of reconciliation.
5 Previous year figures have been reclassified and regrouped wherever
considered Necessary.
6 Additional information pursuant to part (3) & (4) of part II of
Schedule VI of Companies Act, 1956 is given below:
7 In view of Accounting Standard -22 ''Accounting for Taxes on Income''
issued by the Institute of Chartered Accountants of India, the Company
has accounted for deferred tax as follow:
Mar 31, 2012
Contingent Liability :
Bank Guarantees issued are Rs 17.50 lacs of 100% margin.
1 The margin for bank guarantees is shown by the company under the head
Fixed Deposits.
2 As per approval received from RBI and as per the Technology Transfer
Agreement Technical know how fees was payable of Rs. 493.22 lac by the
company in previous year and shown as capital work in progress.
Against this a sum of Rs. 169.83 lac is still payable. The company has
received a letter from M/s Biocore Medical Technologies, Inc. waiving
off the payable amount. The company intends to intimate RBI on the
matter and only then write back the liability.
In view of the letter obtained by the company from M/s Biocore Medical
Technologies, Inc. the retainable value of the technology is higher
them its book value as the technology is being used in India and
Abroad.
3 As per the legal advise obtained by the Company most of unsecured
loans in the form of fixed deposits and bonds are overdue and barred by
limitation hence provision of interest is not made.
4 Some of the balances appearing under Sundry Debtors are subject to
confirmation and reconciliation and consequent adjustments arising out
there from would be done in the year of reconciliation. - '
5 Previous year figures have been reclassified and regrouped wherever
considered Necessary.
6 Additional information pursuant to part (3) & (4) of part II of
Schedule VI of Companies Act, 1956 is given below:
7 (a) Segment report is based on business segments. These business
segments are: 1. Biotech Division 2. IT Enabled Services 3. Others.
There are no geographical segments.
(b) Segment accounting policies are the same as those used in the
preparation of the financial statements.
The segments revenue and segment expenses are directly attributable to
the segments. The assets are not classified into the segments owing to
the nature of activities.
Mar 31, 2010
Bank Guarantees issued are Rs 14.25 lacs less margin Rs. 5.66 lacs
amounting to Rs 8.59 lacs.
1 The margin for bank guarantees is shown by the company under the head
Fixed Deposits.
2 As per approval received from RBI and as per technology transfer
agreement, Technical know how fees of Rs. 493.23 lacs are paid by the
Company in previous years which are shown as capital work in progress
as the project is yet to commence and against this a sum of Rs 169.83
lacs is still outstanding.
3 As per the legal advise obtained by the Company most of the unsecured
loans in the form of fixed deposits and bonds are overdue and barred by
limitation hence provision of interest is not made.
4 Some of the balances appearing under Sundry Debtors reconciliation
and consequent adjustments arising out therefrom would be done in the
year of reconciliation.
5 Previous year figures have been reclassified and regrouped wherever
considered Necessary.
6 Additional information pursuant to part (3) & (4) of part II of
Schedule VI of Companies Act, 1956 is given below:
7 Earning Per Share
8 Quantitative details relating to stock.
During the year damaged stock of Rs. 74,66,900/- has been written off
from closing stock & debited to profit & loss account.
9 In view of Account Standard Ã22 ÃAccounting for Taxes on Income
issued by the Institute of Chartered Accountants of India, the Company
has accounted for deferred tax as follow:
The tax impact for the above purpose has been arrived at by applying
the prevailing tax rate as on Balance Sheet date under the Income Tax
Act, 1961. Increase in Net Deferred Tax Assets amounting to Rs 11.00
Lacs has been credited to profit and loss account.
10 (a) Segment report is based on business segments. These business
segments are:
1. Biotech Division
2. IT Enabled Services
3. Others. There are no geographical segments.
(b) Segment accounting policies are the same as those used in the
preparation of the financial statements.
The segments revenue and segment expenses are directly attributable to
the segments. The assets are not classified into the segments owing to
the nature of activities.
Mar 31, 2009
Contingent Liability:
Bank Guarantees issued are Rs 13.99 lacs less margin Rs. 5.12 lacs
amounting to Rs 8.87 lacs.
1 As per approval received from RBI and as per technology transfer
agreement, Technical know how fees of RS 483.23 lacs are paid by the
Company in previous years which are shown as capital work in progress
as the project is yet to commence and against this a sum of Rs 169.83
lacs is still outstanding. The Company has got extension from RIICO for
implementing the project by paying fees of RS 3.40 lacs which are
capitalized in the cost of land.
The advance for machinery of US $ 1,00,000 have been received back
during the year as the supplier could not provide the Machinery.
2 During the year the company has sold the subsidiaries Jalpradeep
Securities Ltd and Envy International Private Limited . Loss on the
sale of these investments to the extent not provided for is charged to
the Profit and Loss account.
3 Investments include Rs.60.00 lacs which represent investment by the
Company in its subsidiary Money Management Consultants (India) Pvt Ltd
in pervious year. The subsidiary in the Current year sold off its
property during the year. However as in the view of the management
there is no permanent dimunition in the value of investment and hence
the same is not provided for.
4 As per the legal advise obtained by the Company most of the unsecured
loans in the form of fixed deposits and bonds are overdue and barred by
limitation hence provision of interest is not made.
5 Some of the balances appearing under Loans & Advances, Sundry Debtors
and Investment are subject to confirmation and reconciliation and
consequent adjustments arising out therefrom would be done in the year
of reconciliation.
6 Previous year figures have been reclassified and regrouped wherever
considered Necessary.
7 (a) Segment report is based on business segments. These business
segments are:
1. Biotech Division
2. IT Enabled Services
3. Others. There are no geographical segments.
(b) Segment accounting policies are the same as those used in the
preparation of the financial statements.
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