Note 1 COOMPANY INFORMATION
The company is based in Ahmedabad and is primarily involved in trading
and manufacturing of pharmaceutical products.
NOTE 2 OTHER DISCLOSURES
(a) Sundry Creditors, Receivables, Loans and Advances and liabilities
etc. for which confirmations are yet to be received. Provision for
doubtful debts, if any, in respect of above and the consequential
adjustments, arising out of reconciliation will be made at the
appropriate time.
(b) In the opinion of the Management and to the best of their knowledge
and belief the value under the head of Current and
Non Current Assets (other than fixed assets and non current
investments) are approximately of the value stated, if realized in
ordinary course of business, except unless stated otherwise. The
provision for all the known liabilities is adequate and not in excess
of amount considered reasonably necessary.
(c) Disclosure as required by Accounting Standard 19, "Leases" issued
by the Institute of Chartered Accountants of India are given below:
(d) The Company's significant leasing arrangements are in respect of
office and factory premises. The aggregate lease rental payable is
charged to Profit and Loss Account as Rent in Schedule 5.
(e) The Leasing arrangements, which are cancelable at any time between
11 months to 5 years and usually Renewable by mutual consent on
mutually agreeable terms.
(f) Prior period adjustments include: Nil
(g) Balance Confirmations/ Statements for some of the inactive Bank
Accounts have not been received. Request of the same have been placed
with the bank and consequential adjustment if any on account of the
same will be made as and when the statements are received.
(h) Provision for likely sales returns, date expiry and damaged
products are debited to profit & loss account as and when actual
returns/claims received by the Company.
(i) Previous years figures regrouped, rearranged whenever it necessary.
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