| (Amount in Rs. )
As At As At
30.06.2014 30.06.2013
NOTE 1 :
CONTINGENT LIABILITIES
a) Corporate Guarantee Nil 430,000,000
b) Interest not provided on Inter
Corporate Deposits/Trade Deposits
disputed by the Company 2,766,678 Nil
NOTE 2 :
The balance in respect of trade receivable, trade payables and loans,
unsecured loans & advances are subject to confirmations by the
respective parties and reconciliations / adjustments arising therefore,
if any.
NOTE 3 :
Segment Information
The company is primarily engaged and deals in pharmaceuticals & related
products, which in the context of Accounting Standard-17, is the only
business segment and has been identified as the primary reporting
segment. Accordingly, the information appearing in these financial
statements relate to the aforesaid primary reporting segment.
Secondary segmental reporting is performed on the basis of the
geographical locations of customers.
The geographical segments considered for disclosure are based on the
revenue within India (including sales to customers located in India and
service income accrued in India) and revenues outside India (sales to
customers located outside India).
NOTE 4 :
The Company has major liabilities towards lenders, vendors and
statutory dues. Although these events or conditions may cost
significant doubt on the Company's ability to continue as a going
concern. However, the Company has detailed plans to strengthen its
business operations. The Company is negotiating with the banks to
infuse additional finance to streamline its operations. Based on the
detailed evaluation of the current situation, plans formulated and
active discussions underway, the management is confident of raising
adequate finance, rescheduling debt and receiving continued support
from the parties. The Company has got strong and adequate fixed assets
capital base to raise additional resources and funds.
Therefore, the management holds the view that the Company is in a
position to realise its assets and discharge liabilities in the normal
course of business. Accordingly, the financial statements have been
prepared on the basis that the Company is a going concern and that no
adjustments are required in the carrying value of assets and
liabilities.
NOTE 5 :
The accounts for the current year are for the period of Twelve months
as compared to fifteen months accounting period of previous year and
hence to that extent the figures are not comparable. The Previous years
figures have been re-grouped, re-arranged, re-worked & reclassified,
where ever necessary.
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