| 1. Rights, Preferences and restrictions attached to Equity Shares
The Company has one class of Equity shares having at par value of Rs 10
per Share.Each Shareholder is eligible for one vote per Share held.
The dividend proposed by the Board of Directors is Subject to approval
of Shareholders in the ensuing Annual General Meeting. In the event of
liquidation of the company,the equity shareholders will be entitled to
receive remaining assets of the company, after distribution of all
Preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders.
2. Working capital Loan is taken from Export-Import Bank of India
@ 5.328% interest and the loan is secured by creating paripas sufirst
charge on the present & future current assets and corporate office
Building of the company. Second charge on present and future Fixed
assets. The loan is also secured by the personal. guarantee given by
Dr.Jayaram Chigurupati, Chairman of the Company.
3. In the opinion of the Management , the provision for diminution in
the value of investments relating to domestic and foreign subsidiaries
is due to permanent diminution in the value of investments.
4. The investment of preference shares in Hemarus Therapeutics
Limited is redeemable within 7 years from the date of allotment at
Rs.172/- and is based on a valuation report. In the opinion of the
management, the said investment is realisable at the value stated in
the balance sheet.
5. Contingent Liabilities
Particulars 31st March, 2015 31st March, 2014
i) Claims against the Company not
acknowledged as debt
APCPDCL wheeling charges claim in
Supreme Court 8,780,033 8,780,033
ii) Guarantees
Corporate Guarantees given on behalf
of Subsidiary Companies 15,805,489 15,805,489
6. Related Party Disclosures: As per AS-18
i) Subsidiary Companies:
Techtran Opthalmics Private Limited Techtran Lenses, Inc USA Techtran
LLC, USA Techtran Optics Private Limited
ii) Key Management Personnel
Sri. Devendra Patil - Chief Executive Officer - upto 31st July 2014 Sri
C.K.Hariharan - Manager from 25th March 2015
iii) Dr.Jayaram Chigurupati, Chairman
7. Certain balances of domestic and export debtors and creditors
are subject to confirmation and reconciliation.
8. Previous Year figures are regrouped/rearranged/reclassified
wherever necessary to conform to the current year classification.
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