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Notes to Accounts of Medicamen Biotech Ltd.

Mar 31, 2023

2.27 Contingent liabilities not provided for in respect of :

(Amount in '' Lakhs)

S No.

Particulars

2022-23

2021-22

1.

Import Letter of credit USD 5,18,250.00 (Previous Year USD 1,64,988.15 )

'' 426.21

'' 125.39

2.

Inland Letter of Credit

'' 254.61

'' 158.42

3.

Foreign Guarantee USD 1,85,011.00 (Previous Year USD 3,65,132.00 )

'' 152.34

'' 277.19

4.

Inland Guarantee

'' 23.29

'' 24.11


Mar 31, 2018

NOTE 1'': Corporate information:

Medicamen Biotech Limited was registered with ROC, New Delhi, under Registration No. 056594 dated 22nd December, 1993. Old registration number has been converted into new corporate identification number (CIN) L74899DL 1993PLC056594. Registered office of the Company is 1506, Chiranjiv Tower, 43, Nehru place New Delhi-110019. The Company is manufacture of Pharmaceuticals formulations products.

First-time adoption of Ind AS Transition to Ind AS

These are the Company’s first financial statements prepared in accordance with Ind AS.

The accounting policies set out have been applied in preparing the financial statements for the year ended 31st March, 2018, the comparative information presented in these financial statements for the year ended 31st March, 2017 and in the preparation of an opening Ind AS balance sheet at 1st April, 2016 (the Company’s date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in financial statements prepared in accordance with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian GAAP). An explanation of how the transition from previous GAAP to Ind AS has affected the Company’s financial position, financial performance and cash flows is set out in the following tables and notes.

A. Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.

A.1 Ind AS optional exemptions A.1.1 Business combinations

Ind AS 101 provides the option to apply Ind AS 103 prospectively from the transition date or from a specific date prior to the transition date. This provides relief from full retrospective application that would require restatement of all business combinations prior to the transition date.

The Company elected to apply Ind AS 103 prospectively to business combinations occurring after its transition date. Business combinations occurring prior to the transition date have not been restated. The Company has applied same exemption for investment in associates and joint ventures.

A.1.2 Deemed cost

Ind AS 101 permits a first-time adopter to elect to continue with the carrying value for all of its property, plant and equipment as recognised in the financial statements as at the date of transition to Ind AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for decommissioning liabilities. This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets and investment property covered by Ind AS 40 Investment Properties.

Accordingly, the Company has elected to measure all of its property, plant and equipment, intangible assets and investment property at their previous GAAP carrying value.

A.1.3 Designation of previously recognised financial instruments

Ind AS 101 allows an entity to designate investments in equity instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS. The Company has elected to apply this exemption for its investment in equity investments.

A.2.1 Estimates

An entity’s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

Ind AS estimates as at 1st April, 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP.

A.2.2 De-recognition of financial assets and liabilities

Ind AS 101 requires a first-time adopter to apply the de-recognition provisions of Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows a first-time adopter to apply the derecognition requirements in Ind AS 109 retrospectively from a date of the entity’s choosing, provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities derecognised as a result of past transactions was obtained at the time of initially accounting for those transactions.

A.2.3 Classification and measurement of financial assets

Ind AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind AS.


Mar 31, 2017

NOTE ''1'': Information required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reasons.

NOTE ''2'': Contingent Liabilities: In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

NOTE ''3'' Value of Imports Calculated on C.I.F. basis: Rs. 5,86,98,023

(Rs. 2,89,42,018)

NOTE ''4'': Value of Exports Calculated on F.O.B. basis*: Rs. 43,97,69,065 (Based on shipping Bills) (Rs. 27,48,53,304)

* Excluding Domestic Sales for Export

NOTE ''5'': Expenditure in Foreign Currency: Rs. 40,59,573.40

(Rs. 39,77,367.00)

NOTE ''6'': The outstanding balances as on 31st March, 2017 in respect of parties are subject to verification.

NOTE ''7'': The Company has one segment of activity namely "Pharmaceuticals".

NOTE ''8'': Misc. Expenditure includes Rs. 56,562/- as contribution of medicines for Social Welfare to Charitable Institution.

NOTE ''9'': Total pending allotment of Equity shares are 551694 on conversion of warrants as on 31st March, 2017 on account of Money received against share warrants.

NOTE ''10'': The Company is partner in Panache Life care LLP having 33.33332% share but during the year there is no any transaction made in Panache Life care LLP Therefore share of Profit & loss is also NIL on the basis of provisional Financial Statements as on 31st March, 2017 and the difference if any shall be adjusted in the books on the finalization of said Financial statements.

NOTE ''11'': In view of the requirements of Schedule II of the Companies Act 2013 ("Act"), depreciation for the year has been provided based on the lives prescribed under the schedule II.

NOTE ''12'': The Company has during the year paid total managerial remuneration within limit under Section 197 read with schedule V of the Companies Act, 2013 of Rs.15,74,428/- (excluding retirement benefits of Rs. 26,00,000/-)

NOTE ''13'': Related party disclosure as required by AS-18: Related Party Disclosures'' notified by the Companies

(Accounting Standard) Rules, 2006 are given below: Name and Relationships of the Related Parties:

(i) Associate Concern

(a) Medicamen Organics Limited

(b) Panache Lifecare LLP.

(c) Shivalik Rasayan Limited

(d) Growel Capital Services Private Limited

(e) Ms. Kanchan Sharma

(ii) Key Management Personnel

(a) Mr. Rahul Bishnoi - Chairman

(b) Mr. Suresh Kumar Singh - Director

(c) Mr. Ashwani Kumar Sharma - Director

(d) Mr. Klaus Snej Jensen - Director

(e) Mr. Harish Pande - Director

(f) Ms. Usha Pande - Director

(g) Mr. Sanjay Bansal - Director

(h) Mr. Arun Kumar - Director

(i) Mr. Ashutosh Gupta - Director

(j) Mr. Ashok Babu Jha - Whole Time Director (k) Mr. Rajesh Madan Chief Executive Officer (l) Mr. Himanshu Bansal - Chief Financial Officer (m) Ms. Kiran - Company Secretary Transactions with the related parties during the year:

NOTE ''14'': Previous Year''s figures have been regrouped or recast wherever considered necessary.


Mar 31, 2016

NOTE ''1'':

Information required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reasons.

NOTE 2'':

Contingent Liabilities: In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

NOTE ''3'':

The outstanding balances as on March 31, 2016 in respect of parties are subject to verification.

NOTE 4'': the assets, therefore no provision for impairment in value thereof has been considered necessary, by the management.

The Company has one segment of activity namely “Pharmaceuticals”.

NOTE ''5'':

Misc. Expenditure includes Rs.68,268/- as contribution of medicines for Social Welfare to Charitable Institution. NOTE 35'':

There is no pending allotment of shares on conversion of warrants as on 31st March 2016 on account of Money received against share warrants.

NOTE 6'':

The Company is partner in Panache Lifecare LLP having 33.33332% share but during the year there is no any transaction made in Panache Lifecare LLP Therefore share of Profit & loss is also NIL on the basis of provisional Financial Statements as on 31.03.2016 and the difference if any shall be adjusted in the books on the finalization of said Financial statements.

NOTE 7'':

In view of the requirements of Schedule II of the Companies Act 2013 (“Act”), depreciation for the year has been provided based on the lives prescribed under the schedule II.

NOTE 8'':

The Company has during the year paid total managerial remuneration of Rs.82,40,518/- (excluding retirement benefits of Rs.5,72,400/-). Pursuant to Section 197 read with schedule V of the Companies Act, 2013 the Company can pay maximum Rs.84,00,000/- as managerial remuneration.

NOTE 9'':

Related party disclosure as required by AS-18: Related Party Disclosures’ notified by the Companies (Accounting Standard) Rules, 2006 are given below :

Name and Relationships of the Related Parties:

(i) Associate Concern

(a) Medicamen Organics Ltd.

(b) Red Line Healthcare.

(c) Panache Lifecare LLP.

(d) Shivalik Rasayan Ltd.

(ii) Key Management Personnel

(a) Mr. B.K. Gupta - Managing Director

(b) Mr. Ashutosh Gupta - Director

(c) Mr. Jitendra Nath Ojha - Whole Time Director

(d) Mr.Rahul Bishnoi - Chairman

(e) Mr. Ashok Babu Jha - Whole Time Director

(f) Mr.Ashwani Kumar Sharma - Director

(g) Mr.Harish Pande - Director

(h) Mr.Suresh Kumar Singh - Director

(i) Mrs.Usha Pande - Director (j) Mr.Sanjay Bansal - Director (k) Mr.Arun Kumar - Director

(l) Mr. Rajesh Kumar Gupta - Chief Financial Officer

(m) Ms. Kiran - Company Secretary

NOTE 10'':

Previous Year’s figures have been regrouped or recast wherever considered necessary.


Mar 31, 2015

NOTE 1:

Information required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reasons.

NOTE 2:

Contingent Liabilities: In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

NOTE 3:

The outstanding balances as on March 31, 2015 in respect of parties are subject to verification.

NOTE 4:

The Company has one segment of activity namely "Pharmaceuticals".

NOTE 5:

Misc. Expenditure includes Rs.4,99,378/- as contribution of medicines for Social Welfare to Charitable Institution.

NOTE 6:

Money received against share warrants includes Rs. 15,45,555/- on account of pending allotment of shares on conversion of warrants.

NOTE 7:

The Company is partner in Panache Lifecare LLP having 33.33332% share and share of loss of Rs.3,06,800.41 has been provided for in the books on the basis of provisional Financial Statements as on 31.03.2015 and the difference if any shall be adjusted in the books on the finalization of said Financial statements.

NOTE 8:

In view of the requirements of Schedule II of the Companies Act 2013 ("Act"), depreciation for the year has been provided based on the lives prescribed under the schedule II. Further in view of transitional provision of the Schedule II, a sum of Rs. 47,82,693.02 has been recognized in the opening balance of the retained earnings of those assets whose useful life was nil as on 31st March 2014 as per the provision of Schedule II.

NOTE 9:

The Company has during the year paid total managerial remuneration of Rs.94,14,022/- (excluding retirement benefits of Rs.6,76,800 and commission of Rs. 24,186/-). Pursuant to Section 197 read with schedule V of the Companies Act, 2013 the Company can pay maximum Rs.84,00,000/- as managerial remuneration. However as per the agreement for managerial remuneration with the managing Director dated 13.08.2013 he is entitled for the amount paid but in view of the provisions of Section 197 and schedule V the approval of Central Government is required which is pending disposal. In case it is not approved the excess amount shall be recovered from the managing Director and shown accordingly in the books of accounts.

NOTE 10:

Related party disclosure as required byAS-18: Related Party Disclosures' notified by the Companies (Accounting Standard) Rules, 2006 are given below :

Name and Relationships of the Related Parties:

(i) Associate Concern

(a) Medicamen Organics Ltd.

(b) Red Line Healthcare.

(c) Panache Lifecare LLP.

(ii) Key Management Personnel

(a) Mr. B.K. Gupta - Managing Director

(b) Mr. Ashutosh Gupta - Whole Time Director

(c) Mr. Jitendra Nath Ojha - Whole Time Director

(d) Mr. Rajesh Kumar Gupta - Chief Financial Officer

(e) Ms. Kiran - Company Secretary

NOTE 11:

Previous Year's figures have been regrouped or recast wherever considered necessary.


Mar 31, 2014

NOTE ''1'':

Information required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as pertermsexceptforspecial reasons.

NOTE 2:

Contingent Liabilities: In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

NOTE 3:

The outstanding balances as on March 31,2014 in respect of parties are subject to verification.

NOTE ''4'':

The Company has one segment of activity namely "Pharmaceuticals".

NOTE ''5'':

Misc. Expenditure includes Rs.8,33,212/- as contribution of medicines for Social Welfare to Charitable Institution.

NOTE ''6'':

Related partydisclosure as required byAS-18: Related Party Disclosures'' notified bythe Companies (Accounting Standard) Rules, 2006 are given below :

Name and Relationships ofthe Related Parties:

(i) Associate Concern

(a) Medicamen Organics Ltd.

(b) Red Line Healthcare.

(ii) Key Management Personnel

(a) Mr. B.K. Gupta

(b) Mr. Ashutosh Gupta

(c) Mr. Jitendra Nath Ojha

Transactions with the related parties during the year:

NOTE ''7'':

Previous Year''s figures have been regrouped or recast wherever considered necessary.


Mar 31, 2013

NOTE 1 :

Information required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reasons.

NOTE 2 :

Contingent Liabilities: In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

NOTE 3 :

Value of Imports Calculated on C.I.F. basis: Rs.3,07,17,728

(Rs.4,36,34,228)

NOTE 4 :

Value of Exports Calculated on F.O.B. basis*: Rs.22,42,42,916

(Based on shipping Bills) (Rs. 59,55,19,483)

* Excluding Domestic Sales for Export

NOTE 5 :

Expenditure in Foreign Currency: Rs.14,28,041

(Rs.11,14,270)

NOTE 6 :

The outstanding balances as on March 31, 2013 in respect of parties are subject to verification.

NOTE 7 :

The Company has one segment of activity namely "Pharmaceuticals".

NOTE 8 :

Misc. Expenditure includes Rs.10,22,568/- as contribution of medicines for Social Welfare to Charitable Institution.

NOTE 9 :

Related party disclosure as required by AS-18: Related Party Disclosures'' notified by the Companies (Accounting Standard) Rules, 2006 are given below :

Name and Relationships of the Related Parties:

(i) Associate Concern

(a) Medicamen Organics Ltd.

(b) Red Line Healthcare.

(ii) Key Management Personnel

(a) Sh. B. K. Gupta

(b) Sh. Ashutosh Gupta

(c) Mr. Piyush Gupta

(d) Mr. J.P. Nirula

(e) Mr. Anand Kumar Mishra

NOTE 10 :

Previous Year''s figures have been regrouped or recast wherever considered necessary.


Mar 31, 2012

NOTE `1`:

Information required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reasons.

NOTE `2`:

Contingent Liabilities: In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

NOTE `3`:

The outstanding balances as on March 31, 2012 in respect of parties are subject to verification.

NOTE `4`:

The Company has one segment of activity namely "Pharmaceuticals".

NOTE `5`:

Misc. Expenditure includes Rs.9,98,244/- as contribution of medicines for Social Welfare to Charitable Institution.

NOTE `6`:

The Amount of Rs. 25,30,050.00 received as capital subsidy from Govt. against purchase of machinery shown as capital reserve is transferred to respective assets.

NOTE `7`:

Related party disclosure as required by AS-18: Related Party Disclosures' notified by the Companies (Accounting Standard) Rules, 2006 are given below :

Name and Relationships of the Related Parties:

(i) Associate Concern

(a) Medicamen Organics Ltd.

(b) Red Line Healthcare.

(ii) Companies in which Director is Director

(a) Mission Pharma Logistics (India) Pvt. Ltd.

(b) Mission Pharma A/S

(iii) Key Management Personnel

(a) Mr. B.K. Gupta

(b) Mr. Ashutosh Gupta

(c) Mr. Piyush Gupta

NOTE `8`:

The Financial Statements for the year ended 31st March 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, The Financial Statement for the year ended 31st March 2012 are prepared as per Revised Schedule VI. Accordingly the previous year figures have also been reclassified to conform to this year classification. The adoption of Revised Schedule VI for previous year figure does not impact recognition and measurement principal followed for preparation of Financial Statements.


Mar 31, 2011

1. a) Bank Guarantee given by the bankers on behalf of the Company is Rs. 345.64 Lacs as on the date of balance sheet (Previous year Rs. 484.14 lacs)

b) Letter of Credit issued by the Bankers of the Company and outstanding against Material Rs. 999.72 lacs (PreviousyearRs.614.12 lacs)

2. In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities. The value of current assets, loans and advances have a value on realisation In the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

3. Previous Year's figures have been regrouped or recast wherever considered necessary.

4. Capital Work in Progress : It includes advances to suppliers of building materials, plant & machineries and other capital assets & will be allocated to fixed assets in year in which such assets will be ready for utilisation

5. The outstanding balances as on March 31,2011 in respect of parties are subject to verification.

6. The cost of lease land alongwith development expenditure thereon has been amortised over the lease life of the land. During the year the company has written off Rs. 76009 for Bhiwadi and Rs.21098 for Hardwar Land.

7. The closing stock as on 31st March, 2011 is as taken, valued and certified by the management.

- Raw Material,Packing Material and Finished Goods are valued at cost or net realisable value whichever is lower

- Work in Progress are valued at estimated cost

- Stores and spares are valued at cost. Closing stock of finished goods does not include excise duty.

8. Rs. 109,04,390/- shown as Fixed Deposit Receipt with banks is including interest accrued and is lying as security with the parties/Govt. Departments or margin money with bank.

9. Travelling includes directors'travelling of Rs. 22,03,688/- (Previous year 15,00,771 /-)

10. The Company has provided Employees Benefits as per the Accounting Standard-15 issued by the Institute of Chartered Accountants of India. Provision for Gratuity and Leave Encashment have been made in the books of accounts on the basis of actuarial valuation using the Project Unit Credit Method.

11. Company has made provision for deferred tax effect on the difference of depreciation between the amount, as per Income Tax rules and profit & loss account for the year and accumulated retirement benefit provided for during the year.

12. The Company has one segment of activity namely "Pharmaceuitcals".

13. Misc. Expenditure includes Rs. 16,92,712 as contribution of medicines for Social Welfare to Charitable Institution.

14. In terms of requirements of the Accounting Standards-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India, the amount recoverable against Fixed Assets has been estimated for the period end by the management based on their present value of estimated future cash flows expected to arise from the continuing use of such assets. The recoverable amount so assessed was found to be adequate to cover the carrying amount of the assets, therefore no provision for impairment in value therof has been considered neccesary, by the management.

15. Information required to be disclosed under Micro,Small and Medium Enterprises Development Act,2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reason.

16. A sum of Rs.25,30,050 received as Capital subsidy against project at Haridwar is shown as Capital Reserve.

17. Related Party Disclosure

Related party disclosure as required by AS-18 , Related Party Disclosures' notified by the Companies (Accounting Standard) Rules, 2006 are given below : Name and Relationships of the Related Parties :

(i) Associate Concern

(a) Medicamen Organics Ltd. (b) Red Line Healthcare

(ii) Companies in which Director is Director

(a) Mission Pharma Logistics (India) Pvt. Ltd. (b) Mission Pharma A/S

(iii) Key Management Personnel

(a) Mr.B.K.Gupta

(b) Mr.Ashutosh Gupta

(c) Mr.Piyush Guptaf


Mar 31, 2010

1. a) Inland and Foreign Guarantee given by the bankers on behalf of the Company is Rs.484.14 Lacs as on the date of balance sheet (Previous year Rs.308.65 lacs )

b) Letter of Credit issued by the Bankers of the Company and outstanding against Raw Material Rs.614.12 lacs (Previous year Rs.267.27 lacs)

2. In the opinion of the Board of Directors, adequate provisions have been made in the accounts for all known liabilities.The value of current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet, unless otherwise stated.

3. Previous Years figures have been regrouped or recast wherever considered necessary.

4. Capital Work in Progress : It includes advances to suppliers of building materials, plant & machineries and other capital assets & will be allocated to fixed assets in year in which such assets will be ready for utilisation

5. The outstanding balances as on March 31, 2010 in respect of parties are subject to verification.

6. The cost of lease land alongwith development expenditure thereon has been amortised over the lease life of the land. During the year the company has written off Rs. 76009 for Bhiwadi and Rs.21098 for Hardwar Land.

7. The closing stock as on 31 st March, 2010 is as taken, valued and certified by the management.

- Raw Material,Packing Material and Finished Goods are valued at cost or net realisable value whichever is lower

- Work in Progress are valued at estimated cost

- stores and spares are valued at cost. Closing stock of finished goods does not include excise duty.

9. Rs.93,10,279/- shown as Fixed Deposit Receipt with banks is including interest accrued and is lying as security with the parties/Govt. Departments or margin money with bank.

10. Travelling includes directors travelling of Rs. 15,00,771/- (Previous year 7,30,327/-)

11. The Company has provided Employees Benefits as per the Accounting Standard-15 issued by the Institute of Chartered Accountants of India. Provision for Gratuity and Leave Encashment have been made in the books of accounts on the basis of actuarial valuation using the Project Unit Credit Method.

12. Company has made provision for deferred tax effect on the difference of depreciation between the amount, as per Income Tax rules and profit & loss account for the year and accumulated retirement benefit provided for during the year.

13. The Company has one segment of activity namely "Pharmaceuitcals".

14. Misc. Expenditure includes Rs.26,38,252.00 as contribution of medicines for Social Welfare to Charitable Institution.

15. Remuneration of Rs.44,43,477.00 provided for Managing Director is subject to approval of Government which is still awaited.

16. Earning Per Share (EPS) - The numerator and denominator used to calculate Basic and Diluted Earnings per Share:

17. In terms of requirements of the Accounting Standards-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India, the amount recoverable against Fixed Assets has been estimated for the period end by the management based on their present value of estimated future cash flows expected to arise from the continuing use of such assets.The recoverable amount so assessed was - found to be adequate to cover the carrying amount of the assets, therefore no provision for impairment in value there of has been considered neccesary, by the management.

18. Information required to be disclosed under Micro, Small and Medium Enterprises Development Act,2006 has not been provided by any party dealing with the Company and accordingly no information for the same can be provided. The Company is otherwise generally regular in making payments as per terms except for special reason.

19. Related Party Disclosure

Related party disclosure as required by AS-18 , Related Party Disclosures notified by the Companies (Accounting Standard) Rules, 2006 are given below : Name and Relationships of the Related Parties :

(i) Associate Concern

(a) Medicamen Organics Ltd.

(b) Red Line Healthcare

(ii) Companies in which Director is Director / CEO

(a) Mission Pharma Logistics (India) Pvt. Ltd.

(b) Mission Pharma A/S

(iii) Key Management Personnel

(a) Mr.B.K.Gupta

(b) Mr.Ashutosh Gupta

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