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Notes to Accounts of Zenlabs Ethica Ltd.

Mar 31, 2014

1. Contingent Liabilities against the company - The company has won the case against the sale tax authorities and the bank guarantees issued by the company have been duly released by the authorities during the current financial year.

2. Earnings /Expenditure in Foreign Currency - During the year the company did not have any earnings / expenditure in foreign exchange.

3. Balances in sundry creditors,debtors, loans and advances are subject to confirmation and reconciliation if any.

4. In the Opinion of the Board of Directors , The Current Assets, Loans & Advances are approximately of the value stated if realised in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount considered reasonably necessary.

5. Figures have been regrouped/ rearranged wherever necessary to make them comparable with the figure of previous year

6. In compliance with AS-22 , Accounting for taxes on Income issued by The Institute of Chartered Accountants of India, a sum of Rs 20707.00 being Deferred Tax Asset has not been recognised in view of accumulated losses and uncertainity of future income.

Contingent Liabilities and Commitments (to the extent not provided for)

(Amount in Rs.)

Particulars Current Previous Reporting Period Reporting Period (a) Contingent Liabilities

Guarantees - 390,605.87

TOTAL - 390,605.87


Mar 31, 2013

A. Contingent Liabilities against the company - The Company is contesting the case against the sale tax authorities against the unjustified penalty imposed by The ETO, ICC, Jharmari, Mohali. Pending the settlement of this case, the company has deposited the penalty under protest by the execution of bank guarantee of Rs 3,28,760/-.

B. Earnings /Expenditure in Foreign Currency - During the year the company did not have any earnings / expenditure in foreign exchange

C. Balances in sundry creditors, debtors, loans and advances are subject to confirmation and reconciliation if any.

D. In the Opinion of the Board of Directors , The Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business The provision of all known liabilities is adequate and not in excess of the amount considered reasonably necessary.


Mar 31, 2010

A. Contingent Liabilities against the company - Nil

B. Earnings /Expenditure in Foreign Currency - During the year the company has made export sales of Rs 4,35,310

This amount has been duly received . No expendture in foreign currency has been incurred.

C. Balances in sundry creditors. debtors, loans and advances are subject to confirmation and reconciliation if any

D. In the Opinion of the Board of Directors , The Current Assets. Loans & Advances are approximately of the value stated if realised in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount considered reasonably necessary.

E. Other Additional information persuant to the provisions of paragraph 3,4C and 4D of Part II Schedule VI of the companies Act, 1956 to the extent not applicable are not given

a) Key Management Personnel - Mr Sanjeev Singal, Mr Satish Singhal. Mr Harpreet Singh Kalra

b) Relative of Director - Nil

c) Enterprises over which KMP exercise influence - Preet Remedies Private Limited , Quixotic Healthcare Ultrachiron Healthcare (Pvt.) Ltd.

F. Figue have been regrouped/ rearranged wherever necessary to make them comparable with the figure of previous year.

G. In compliance with AS-22 , Accounting for taxes on Income issued by The Institute of Chartered Accountants of India, a sum of Rs 21804 has been recognised as Deferred Tax Liability in respect of timing difference for the year ended 31.03.2010

 
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