Notes to Accounts of Amar Remedies Ltd.

Jun 30, 2011

1. 'The Previous Years' figures have been regrouped/restated, whenever necessary, to make them comparable with the current year figures.

2. In the absence of information as regards to the status/classification of the relevant enterprises into Micro, Small and Medium Enterprises, information as required under Notification No. G.S.R. 719(E) dated 16.11.2007 issued by the Department of the Company Affairs in respect of the total amount payable and amount of interest thereon paid during the year and payable at the end of the year to the Sundry Creditors, could not be disclosed.

3. Balances with Sundry Creditors, Debtors, Loans and Advances and Deposits are subject to confirmation & reconciliation.

4. INTER CORPORATE DEPOSIT: Company has given Rs7,43,27,907/- ( Rs. Seven Crores Forty Three Lacs Twenty Seven Thousand Nine Hundred Seven Only) as inter corporate deposit for the year ended 30th June, 2011 to some Company. The terms & conditions are not against the interest of the Company.

5. CONTINGENT LIABILITIES:

Sr. No. Description 2010-2011 2009-2010

1. Bank Guarantee 1,50,00,000.00 NIL

TOTAL 1,50,00,000.00 NIL

6. In accordance with Accounting Standard 22 "Accounting for Taxes of Income" issued by the Chartered Accountants of India which became mandatory from 01.04.2002, the Deferred Tax Liability (net) for earlier years till 30.06.2010 amounting to Rs. 32,43,755/- has been recognized. The Deferred Ta x Liability (net) of the current year amounting to Rs. 28,62,831/- has been recognized in the Profit and Loss account.

7. As per Accounting Standards (AS-18) on related party disclosures issued by the Institute of Chartered Accountants of India,

8. FOREIGN EXCHANGE EARNING AND OUTGO:

a) Earnings: The Realisation value of exports of the company during the period ended as on 30/06/2011 aggregated to Rs. 801.82/- Lacs.

This is Direct Exports and does not include sales through Merchant Exports.

b) Outgo: The Realisation value of Import of the company during the period ended 30.06.2011 aggregated to Rs. 8.73 Lacs.

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Jun 30, 2009

1. The Previous Years figures have been regroup/restated, whenever necessary to make them comparable with the current years

2. Sales, other than exports sales, are exclusive of Excise Duty and shown net of returns and discounts.

3. In the absence of the information available with the company the amounts due to the suppliers who constitute small scale industrial undertakings have not been given. No claims has been received from any small scale industrial undertaking upto the date of the Balance Sheet relating to dues, if any.

4. Balances with Sundry Creditors, Debtors, Loans and Advances and deposits are subject to confirmation & reconciliation.

5. SECURITY FOR TERM LOAN : The loan, all interest and other monies in respect of the term loan is secured by:

First and exclusive charge in favour of ICICI Bank Ltd. over the office premises of the company located at Prabhadevi - Mumbai.

Secured Loan : Cash Credit A/c - Hypothecation of Stocks, Book Debt, Factory Premises and Plant & Machinery.

6. INTER CORPORATE DEPOSIT : Company has given Rs.4,25,20,525/- ( Rs.Four Crore Twenty Five Lacs Twenty Thousand Five Hundred Twenty Five Only) as inter corporate deposits for the year ended 30th June 2009 to some company. The terms & conditions are not against the interest of the company.

7. CONTINGENT LIABILITEIS :

Claims against the company not acknowledge as debts : Rs. Nil ( Previous Year: Rs. Nil)

8. Inaccordance with Accounting Standard 22 "Accounting for Taxes of Income" issued by the Chartered Accountants of India which became mandatory from 01.04.2002, the Deferred Tax Liability (net) for earlier years till 30.06.2008 amounting to Rs. 33,23,922 has been recognized and adjusted against the General Reserve. The Deferred Tax Liability (net) of the current year amounting to Rs. 14,33,327 has been recognized in the Profit and Loss account.

9. FOREIGN EXCHANGE EARNING AND OUTGO :

a) Earning : The CNF value of exports of the company during the period ended as on 30/06/2009 aggregated to Rs. 1290.73 Lacs. This is the Direct Export and does not include sale through Merchant Exports.

b) Outgo: 1) The CNF value of exports of the company during the period ended as on 30/06/2009 aggregated to Rs. 149.53 Lacs.