Mar 31, 2015
As at 31st As at 31st
March,2015 March,2014
Amount (Rs.) Amount(Rs.)
1. Contingent liabilities and commitments
(to the extent not provided for)
Contingent liabilities
Sales Tax Demand 0 0
(Pending before Sales tax Tribulnal for
the Financial year 1993- 1994)
Income tax Demand 0 0
(Pending before Income tax Tribunal for
the Financial year 2007- 2008)
Total 0 0
2. OTHER NOTES ON ACCOUNTS:
1. Previous year figures have been re-grouped and rearranged wherever
necessary for proper presentation of accounts.
2. Sundry debit and credit balances of loans and advances are subject
to confirmation and Bank Balances as per reconciliation, if any. As per
view precaution of actual and realizable value has been taken care of.
3. As informed to us, there are no contingent liabilities as on
Balance Sheet Date.
4. Auditors Remuneration relating to audit works Rs.25000/- is
provided at the end of year.
5. As informed to us there are no estimated amounts of contracts
remaining to be executed on Capital Amount.
6. The Company has not disposed off any Fixed Assets during the year.
7. As certified by the Directors all amounts in the Balance Sheet
relating to Sundry Debtors, Sundry Creditors, Unsecured Loans,
Deposits, Loans and advances are shown at net realizable or net payable
as the case may be.
8. As certified by Company that it has received written representation
from all the Directors, That Companies in which they are Directors had
not defaulted in terms of section 164 (2) of the Companies Act, 2013,
and that representation of Directors taken in Board that Director is
disqualified from being appointed as Director of the Company.
9. Income in Foreign Currency is NIL.
10. Expenditure in Foreign Currency is NIL.
11. Number of employees who were:
(a) Employed throughout the year and were in receipt of remuneration of
Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)
(b) Employed for part of the year and were in receipt of remuneration
of Rs 5,00,000/ -per month or more are nil. (Previous Year Nil)
12. Particulars of licensed Capacity or Production Capacity is not
applicable to the Company.
Mar 31, 2014
Note As at 31st As at 31st
No March, 2014 March, 2013
Amount (Rs. ) Amount (Rs. )
1. Contingent liabilities and
commitments
(to the extent not provided for)
Contingent liabilities
Sales Tax Demand 0 0
(Pending before Sales tax
Tribulnal for the Financial
year 1993-1994)
Income tax Demand 0 0
(Pending before Income tax
Tribunal for the Financial
year 2007-2008) 0
Total 0 0
Mar 31, 2012
Note As at 31st As at 31st
NO March, 2012 March, 2011
Amount (Rs) Amount (Rs)
1 Contingent liabilities and
commitments (to the extent not
provided for)
Contingent liabilities
Sales Tax Demand 0 0
(Pending before Sales tax
Tribulnal for the Financial
year 1993-1994)
Income tax Demand 0 0
(Pending before Income tax
Tribunal for the
Financial year 2007-2008) 0
Total 0 0
(2) Contingent Liabilities:
Claims against the Company not acknowledged as debts for income tax for
as at 31st March, 2012 is NIL.
(3) Retirement benefits, gratuity, leave encashment, etc. has not been
provided in the accounts by the Company. They have been dealt with on
cash basis. This is not in accordance with Accounting Standard 15 for
Accounting for Retirement Benefits in the Financial Statements of
Employers issued by the Institute of Chartered Accountants of India.
(4) In view of the accumulated losses, unabsorbed depreciation and
current losses, the Company has not recognized deferred tax assets
(net) in accordance with the Accounting Standard 22 issued by the
Institute of Chartered Accountants of India by way of prudence.
(5) Due to continuing losses, the net worth of the Company has been
eroded by more than fifty percent thereof; However, it is informed that
the Company has been in dialogue with the Bankers and shall propose the
restructuring of existing outstanding loans for adequate net worth and
working capital funds to be made available in future for continuing the
operation. Accordingly, the accounts for the year have been prepared on
a going concern basis.
(6) Balance of creditors, other liabilities, debtors, loans and
balances with banks, in current accounts and deposits are subject to
confirmation and reconciliation as in the case of banks most of the
accounts are showing negative bank balance. In respect of the old
debtors, the Auditor has relied on the judgment of the management of
the company as to the recoverable in absence of direct confirmation.
(7) The Company has Capital Work in progress for building for Rs. Nil
In respect of which no provision of impairment is required to be made
in the opinion of the management of the Company.
(8) As informed by the management, the Company has not maintained cost
records under section 209(1)(d) of the Companies Act, 1956 and rules
made there under by the Central Government in this regard.
(9) The details as to the names of the Small Scale Industrial
undertakings to whom the Company owes a sum, and which is outstanding
for more than 30 days as on 31st March 2012 have not been given in view
of information in this regard not made available to us.
(10) The names of related parties with relationship and transactions
with them are disclosed as under: Nil
Salary and perquisites to Mr. Atul B. Pandit Rs. Nil Salary and
perquisites to Mr. Yogendra Machhar Rs. Nil
(11) In the opinion of the management of the Company, the Company has
only one segment viz. pharmaceutical and drugs, hence no separate
discloser of segment wise information has been made.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article