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Notes to Accounts of Zenith Healthcare Ltd.

Mar 31, 2015

Note 1 COOMPANY INFORMATION

The company is based in Ahmedabad and is primarily involved in trading and manufacturing of pharmaceutical products.

NOTE 2 OTHER DISCLOSURES

(a) Sundry Creditors, Receivables, Loans and Advances and liabilities etc. for which confirmations are yet to be received. Provision for doubtful debts, if any, in respect of above and the consequential adjustments, arising out of reconciliation will be made at the appropriate time.

(b) In the opinion of the Management and to the best of their knowledge and belief the value under the head of Current and

Non Current Assets (other than fixed assets and non current investments) are approximately of the value stated, if realized in ordinary course of business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

(c) Disclosure as required by Accounting Standard 19, "Leases" issued by the Institute of Chartered Accountants of India are given below:

(d) The Company's significant leasing arrangements are in respect of office and factory premises. The aggregate lease rental payable is charged to Profit and Loss Account as Rent in Schedule 5.

(e) The Leasing arrangements, which are cancelable at any time between 11 months to 5 years and usually Renewable by mutual consent on mutually agreeable terms.

(f) Prior period adjustments include: Nil

(g) Balance Confirmations/ Statements for some of the inactive Bank Accounts have not been received. Request of the same have been placed with the bank and consequential adjustment if any on account of the same will be made as and when the statements are received.

(h) Provision for likely sales returns, date expiry and damaged products are debited to profit & loss account as and when actual returns/claims received by the Company.

(i) Previous years figures regrouped, rearranged whenever it necessary.


Mar 31, 2014

Note 1 COOMPANY INFORMATION

The company is based in Ahmedabad and is primarily involved in trading and manufacturing of pharmaceutical products.

2. (a) Terms/ Rights attached to Equity Shares

The company has only one class of equity shares having par value of Rs. 1/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company.

(b) Shares held by associates Companies Rs. 2252550

3. (a) Some taxes related assessments are pending against the Company. Potential liabilities, if any, have been adequately provided for, and the management does not estimate any incremental liability in respect of the legal proceedings.

(b) In accordance with "Accounting Standard 22", the Deferred Tax Assets of Rs.1092527/- (Previous year deferred tax Liability Rs. 234255/-) for the year has been recognised in the Profit & Loss Account.

NOTE 4 OTHER DISCLOSURES

(a) Sundry Creditors, Receivables, Loans and Advances and liabilities etc. for which confirmations are yet to be received. Provision for doubtful debts, if any, in respect of above and the consequential adjustments, arising out of reconciliation will be made at the appropriate time.

(b) In the opinion of the Management and to the best of their knowledge and belief the value under the head of Current and Non Current Assets (other than fixed assets and non current investments) are approximately of the value stated, if realised in ordinary course of business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

(c) Disclosure as required by Accounting Standard 19, "Leases" issued by the Institute of Chartered Accountants of India are given below:

(d) The Company''s significant leasing arrangements are in respect of office and factory premises. The aggregate lease rental payable is charged to Profit and Loss Account as Rent in Schedule 5.

(e) The Leasing arrangements, which are cancelable at any time between 11 months to 5 years and usually renewable by mutual consent on mutually agreeable terms.

(f) Prior period adjustments include: Nil

(g) Balance Confirmations/ Statements for some of the inactive Bank Accounts have not been received. Request of the same have been placed with the bank and consequential adjustment if any on account of the same will be made as and when the statements are received.

(h) Provision for likely sales returns, date expiry and damaged products are debited to profit & loss account as and when actual returns/claims received by the Company.

(i) Previous years figures regrouped, rearranged whenever it necessary.


Mar 31, 2013

Note 1 CORPORATE INFORMATION

The company is based in Ahmadabad and is primarily involved in trading and manufacturing of pharmaceutical products. Note 2 SIGNIFICANT ACCOUNTING POLICIES adopted by the Company in the preparation and presentation of the Accounts: -

(a) Sundry Creditors, Receivables and Loans and Advances include certain items for which confirmations are yet to be received. Provision for doubtful debts, if any, in respect of above and the consequential adjustments, arising out of reconciliation will be made at the appropriate time.

(b) In the opinion of the Management and to the best of their knowledge and belief the value under the head of Current and Non Current Assets (other than fixed assets and noncurrent investments) are approximately of the value stated, if realized in ordinary course of business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

(c) i) Provision for taxation for the year has been made after considering allowance, claims and relief available to the Company as considered and perceived by the management.

ii) Some Income Tax related assessments are pending against the Company. Potential liabilities, if any, have been adequately provided for, and the management does not estimate any incremental liability in respect of the legal proceedings.

(d) Disclosure as required by Accounting Standard 19, "Leases" issued by the Institute of Chartered Accountants of India are given below:

i) The Company''s significant leasing arrangements are in respect of office and factory premises. The aggregate lease rental payable is charged to Profit and Loss Account as Rent in Schedule 5.

ii) The Leasing arrangements, which are cancelable at any time between 11 months to 5 years. They are usually renewable by mutual consent on mutually agreeable terms.

(e) Prior period adjustments include: Nil

(f) Balance Confirmations/ Statements for some of the inactive Bank Accounts have not been received. Request of the same have been placed with the bank and consequential adjustment if any on account of the same will be made as and when the statements are received.


Mar 31, 2012

1. Contingent Liablities not provided for : Nil Nil

2. Auditors' Remuneration : 2011-2012 2010-2011

Audit Fee 27,575 27,575

Tax Audit Fee 8,272 8,272

Fees for Certification work & S.Tax 8,273 8,273

44,120 44,120

3. Managerial Remuneration :

a Remuneration to Chairman & 1,800,000 1,800,000

Managing Director/Executive Director

4. Foreign Exchange outgo : Nil 83,936

5. Earnings in Foreign Exchange on account of export : Nil Nil

6. Raw Material Consumption is after taking excise CENVAT/Edu.Cess/Sec.& High.Sec.Edu.Cess credit of Rs. 2807.00

7. In the opinion of the Management, the Current Asset have a value on realisation in the ordinary course of business or equal to the amount at which are stated in the Balance Sheet except those recovery are doubtful nature to the extent of Rs. 2098037/-

8. Parties balances whether debit, credit or on whatever account are subject to confirmation by the parties concerned.

9. Previous year's figures regrouped, wherever necessary.

10. Shares of GIC housing Finance Ltd, which is held as investment are not in dematerialsed form.

11. Managerial Remuneration paid to Directors as per provisions of Schedule XIII of the Companies Act, 1956.


Mar 31, 2011

2010-2011 2009-2010

1. Contingent Liablities not provided for : Nil Nil

2. Raw Material Consumption is after taking excise CENVAT/Edu.Cess/Sec.& High.Sec.Edu.Cess credit of Rs.3531/-

3. As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the Disclosures of Transactions with related parties, as deline in the Accounting Standard are given below :

I. List of related parties with whom transaction have taken place and relationships :

Sr. No. Name of Related Party Relationship

1. Mahendra C. Raycha Key Management Personnel

2. Neela Raycha Executive Director & Relative of

Key Management Personnel

3. Ray Remedies Pvt. Ltd. Associate Company

4. M/s. Raxin Healthcare Associate Firm

4. In the opinion of the Management, the Current Asset have a value on realisation in the ordinary course of business at least equal to the amount at which are stated in the Balance Sheet except those recovery are doubtful nature to the extent of Rs. 9,35,418/–

5. Parties balances whether debit, credit or on whatever account are subject to confirmation by the parties concerned.

6. Previous year's figures regrouped, wherever necessary.


Mar 31, 2010

2009-2010 2008-2009

1. Contingent Liabilities not provided for : Nil Nil

2. Auditors Remuneration :

Audit Fee 25,000 25,000

Tax Audit Fee 7,500 7,500

Fees for Certification work & S.Tax 7,500 7,500

40,000 40,000



3. Raw Material Consumption is after taking excise CENVAT /Edu.Cess/Sec.S High.Sec.Edu.Cess credit of Rs. 1276.00

4. Licensed Capacity, Installed Capacity and Production :

5. As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the Disclosures of Transactions with related parties, as deline in the Accounting Standard are given below :

I. List of related parties with whom transaction have taken place and relationships :

Sr. No. Name of Related Party Relationship

1. Mahendra C. Raycha Key Management Personnel

2. Neela Raycha Executive Director & Relative

Key Management Personnel

3. Ray Remedies Pvt. Ltd. Associate Company

4. M/s Thakker Chatrabhuj Dayalji Related of key Management Personnel

5. M/s Thakker Babubhai Chatrabhuj Related of key Management Personnel

6. M/s Raxin Healthcare Associate Firm

6. In the opinion of the Management, the Current Asset have a value on realisation in the ordinary course of business at least equal to the amount -at which are stated in the Balance Sheet except those recovery are doubtful nature to the extent of Rs. 15,58,376/-

7. Parties balances whether debit, credit or on whatever account are subject to confirmation by the parties concerned

8. Previous years figures regrouped, wherever necessary.