| 1. HISTORY:
M/s Trans Medicare Limited was incorporated on 3rd day of January, 1989
and having its registered office at H.No.3-179/NR, Plot No.179,
Guttalabegampet-S1, Phase II, Kavuri Hills, Madhapur, Hyderabad-
500081.
2. The Company is engaged in the business of Manufacture of
Pharmaceutical formulations like Tables, Capsules, Liquid orals,
Ointments etc. and to deal, export & import, all such pharmaceutical
cosmetics and related Products, organic or inorganic chemicals, bulk
drugs, drug intermediates, dyes, dye-intermediates pharmaceutical
formulations and any other related products. buy, sell, export, import
keep, store, merchandise, trade and deal in chemicals, bulk, drugs, drug
intermediates, pharmaceuticals, dyes, fuel coal power and any other
goods or articles.
3. Security:
The above Term Loan is secured by the plant situated at sholapur. The
management has not made 'provision for interest' on this loan during
the current year. Based on the representation made by the management,
the company is seeking for One Time Settlement of this loan which is
not finalized.
4. Unsecured Loans:
All the unsecured loans are from group companies and KMP and entities
belonging to the KMP. All are non interest bearing and no terms and
conditions are stipulated with respect to repayment of these loans.
5. SECURITY DEPOSITS
The following security deposits made with various authorities are
written of completely due to their non recoverability nature.
6. CAPITAL WORKS IN PROGRESS
The Company has the Capital Works in Progress of worth ' 33,41,287/-
since the financial year 1991-92. The work in progress has been stopped
from that financial year. Management has decided to write off the same
after considering residual at 2% of the cost of the Capital Works in
Progress. Accordingly an amount of ' 32,74,461/- is written off and
shown in the prior period items head in the statement of profit and
loss.
7. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided
for):
i) Contingent Liabilities
The company has given the corporate guarantee in connection with the
loan taken by the following two associated companies.
Sl. Name of the Date of Name of Amount Status
No. Associated guarantee the lender of loan
company
1 Nandini 24-12-2013 SBI 89.50crores NPA
Industries
India Pvt Ltd
Techtrans 18-06-2013 SBI 38.52crores NPA
Construction
2 India Pvt Ltd
Particulars of property charged: Extension of EM on land along with
factory building admeasuring 2 acres in plot no. 11/4, IDA, NACHARAM,
RR DIST standing in the name of the Company.
ii) Commitment against capital contracts yet to be executed - Nil
iii) Commitment against revenue contracts yet to be executed - Nil
17. Segment Reporting:
As the Company has only one business and geo graphical segment, So
Segment reporting as per AS-17 is not Applicable.
8. Note on Consolidated Financial Statements:
Based on our observations the TRANS MEDICARE LIMITED (TML) has 22.82 %
shareholding interest (direct interest) in TRANS GEL INDUSTRIES
LIMITED. So, it is the associate company and the TML has to prepare the
consolidated financial statements as per section 129 (3). But the rule
6 of the Companies (Accounts) rules, 2014 is not applicable for the
financial year 2014-15 if the parent company has no one or more
subsidiaries but having only associates and joint ventures. So
consolidated financial statements of TML are not prepared for the FY
2014-15.
9. Previous year figures have been regrouped / re arranged /
reclassified wherever considered necessary to conform to the
classification of the current year.
|