Mar 31, 2014
NOTE 1a -
(a) Principal amount payable to Micro and Small Enterprises (to the
extent identified by the company from available information and relied
upon by the auditors) as at 31st March, 2014 is Rs.63.56 Lacs(Previous
year - Rs Rs. 55.99 Lacs ) including unpaid amount of Rs.44.83 Lakhs
outstanding for more than 30/ 45 days. Estimated interest thereon is
Rs. NIL (Previous Year - Rs.NIL)
Mar 31, 2013
NOTE 1a
(a) Principal amount payable to Micro and Small Enterprises (to the
extent identified by the company from available information and relied
upon by the auditors) as at 31st March, 2013 is Rs.55.99 Lacs(Previous
year - Rs Rs. 41.31 Lacs) including unpaid amount of Rs.40.55 Lakhs
outstanding for more than 30/ 45 days. Estimated interest thereon is
Rs. NIL (Previous Year-Rs.NIL)
Mar 31, 2012
NOTE 1a - Related Party Disclosures:
Holding Company Opto Circuits (India) Ltd.
Fellow Subsidiaries
Mediaid Inc., USA
Eurocor Gmbh. Germany
Devon Innovations Pvt. Ltd.
Ormed Medical Technology Ltd.
Criticare Systems Inc., USA
Opto Infrastructure Ltd
Maxcor Lifescience Inc., USA
N S Remedies Private Limited
Opto Circuits (Malayasia) Sdn. Bhd
Unetixs Vascular Inc. USA
Cardiac Science Corporation, USA
Opto Cardiac Care Ltd.
Opto Eurocor Healthcare Ltd.
Key Management Personnel:
Mr. Vinod Ramnani Chairman & Managing Director
Mr. Bhaskar Valiveti Director
Mar 31, 2010
For the Year Ended
31-03-2010
Rs.in Lakhs For the year Ended
31-03-2009
Rs.in Lakhs
1.CONTINGENT LIABILITIES
a)Letter of Credits 74.23 275.39
b)Bank Guarantees 349.62 50.00
TOTAL 225.60 275.60
2.The Company has an on going programme of periodic reconciliation of
sundry debtors,sundry creditors,and loans & advances given /taken &
Provisions wherever necessary have been made.
3.The Company has taken Group Gratuity scheme under cash accumulation
system from LIC of India and unavailed encashable earned leave Rs.4,20,346
on accrual basis.
4.Deferred Tax Asset as at 31 st March 2010 represents the tax effect of
temporary differences substantially on account of differences in the
written down value of fixed assets on account of differing depreciation
methods /rates &other timing differences,arising during the accounting year.
5.During the year The Commissioner of Service Tax,Audit Section,Bengaluru
has conducted the Audit and observed that,the Company is liable to pay
Rs.2,01,31,900/-.
We have done the assessment and accepted a liability of Rs.44,04,348/-,which
has been paid during the year.
In our opinion,the balance of Rs.1,57,27,5527-is not a liability on us But,
if we receive any demand from the department,we will contest the claim,to
that extent there is contingent liability of Rs.1,57,27,552/-.
6.Net effect of Foreign Exchange rate difference included in the net profit
for the period is Rs.35.88 Lakhs Profit (P.Y Rs.102.17 Lakhs (Loss))
7.LIST OF RELATED PARTIES
Enterprises owing directly or indirectly,an interest in the voting power of
the Company that gives control or significant influence over the Company.
I.Holding Company Opto Circuits (India)Ltd.
II.Fellow Subsidiaries
Altron Industries Pvt.Ltd.
EurocorGmbH,Germany
Mediaid Inc.,USA
Devon Innovation Pvt.Ltd.
Ormed Technologies Ltd.
Opto Infrastructure Ltd.
Criticare Systems Inc.,USA
Maxcor Lifescience Inc.,USA
III.Key Management Personnel
Mr.Vinod Ramnani Chairman &Managing Director
Mr.Bhaskar Valiveti Whole-Time Executive Director
8.The Income,expenditure and other financials of USA Branch have been
consolidated with the Companys accounts. No separate profitability
statements have been prepared.These accounts are notAudited.These accounts
have been adopted based on the Certification of the Branch Head.
9.The Company capitalised product development expenditure to the tune
of Rs.2,44,23,535 during F.Y 2006-07 under intangible assets.This has now
been written off during the year and debited to prior period expenses.
10.Previous year figures have been regrouped &reclassified to correspond
with the current years classification.