| 1. Contingent Liabilities:
i) In respect of Bank
Guarantee Rs. NIL (Previous year Rs. NIL)
ii) Against pending sales
tax cases Rs. NIL (Previous year Rs. NIL)
2. The company has provided depredation on all Fixed Assets on
Straight line method in accordance with the provisions of section 205
(2) (b) and section 350 of the Companies Act, 1956 as amended by the
companies (Amendment) Act. 1988 at the rates prescribed in schedule XIV
of the said Act and as revised vide notification GS.R. 756 (E) dated
16.12.93 of Department of company affairs, Government of India and on
prorate basis on additions during the year.
3. SEGMENT REPORTING: With reference to Accounting Standard 17 (AS-17)
the company has one segment i.e. manufacture of Surgical Dressings.
4. Related Party Disclosures
Pursuant to Accounting Standard 18 (AS-18). The company has identified
all related parties and details of transactions are given below:
1. Relationship
(a) Key management personnel and their relatives Dr. Ajit Rai
Sabharwal., Mrs. Anjana Sabharwal.
(b) Other related Parties:
i. Ajit Rai Sabharwal HUF.
ii. Dr. Sabharwal's Medicals Pvt. Ltd., Dr. Sabharwal's Wound Care
5. Deferred Tax Liability
Pursuant to Accounting Standard (AS-22). Accounting for taxes on Income
the company has revised its Deffered Tax Liability upto 31-03-2011.
Further the impact of net deffered tax Liabilities of Rs. 139483.33for
the year ended 31 st March 2012 has been debited to Profit & Loss
Account.
In the opinion of board current assets. Loans & advances are
approximately of the value stated and not in excess of the account
considered reasonable.
Previous year's figures have been regrouped / rearranged wherever
necessary to render them comparable with current year's figures.
Previous years figures : Till the year ended March 31,2011 the company
was using pre-revised schedule Vi to the companies Act, 1956 for
preparation and presentation of the financial statements. During the
year ended March 31, 2012 the revised Schedule VI notified under the
Companies Act, 1956, has become applicable to the company, the company
has reclassified previous year figures to confirm to this years
classification.
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