| 1.1 Terms/Rights attached to Equity Shares
The Company has only one class of equity shares having a face value of
Rs. 10/- per share. Each header of equity share is entitled to one vole
per share.
The company declares and pays dividends in Indian rupees. The dividends
proposed by the Board of Directors is subject to approval of
shareholders in the 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 field by the shareholders.
1.2 Details of shareholders holding more than 5% shares in the company:
As per records of the Company, including its register of
shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both
legal and beneficial ownership of shares. During the year 2012-13,
company consolidated its Equity shares from Rs.1/- to Rs. 10/- each.
Fractional shares arising out of this consolidation were given to a
director to hold and sell the same in the market in trust on behalf of
the company. Total fractional shares arising out of above exercise were
consolidated into 147 shares of Rs.10/- each and were sold. Sale
proceed of Rs. 6804.39/- (Net of expenses), is lying in the bank
account of director.
2. Trade Payables
* The company has not received any Intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosures regarding:
(a) Amount due and outstanding to suppliers as at the end of accounting
year.
(b) Interest paid during the year
(c) Interest payable at the end of accounting year
(d) Interest accrued and unpaid at the end of the accounting year, have
not been given.
The company Is making efforts to get the confirmations from the
suppliers as regards their status under the act.
3. Contingent Liabilities
As at March, As at March,
2014 2013
ESI demand for ESI department
for Hyderabad unit 210,000 210,000
4. Segment Reporting
The company is a one-segment company of manufacturing of Drug
intermediaries. Hence, no further disclosures are required under AS-
17, other than those already provided in the financial statements.
5. Related Party Disclosure
(Disclosure as required by Accounting Standard (AS) 18 Related Party
Disclosures)
a. List of Subsidiaries
Zyden Gentec Hong Kong Limited
b. Enterprises having same Key Management Personnel and/or their
relatives as the reporting enterprise
Deepak Healthcare Private Limited
Sharda Advisory Services Private Limited
Ultimate Money Makers (India) Private Limited
c. Key Management Personnel
Shri Vinod Kumar Gupta, Chairman/Managing Director
Shri Venkata Kameshwararao Varanasi, Executive Director (retired w.e.f.
13.08.2013)
Niranjan Kumar Agrawal, Director
Manish Jatia, Whole Time Director (w.e.f. 26.03.2014)
6. Other Explanatory Information
a) Company has not provided interest on term loans and other facilities
taken from Punjab National Bank, Kota from the date amounts were
recalled by the bank. All the bank accounts have been declared NPA by
the Bank. Management has initiated the process of settlement with Bank
and accordingly has not provided any liability towards interest
including penal interest expense as Company is hopeful that no
liability other than that recorded in the books of accounts would arise
b) Company has not paid interest on cash credit account with State Bank
of Hyderabad since August, 2011 and has asked the bank for one time
settlement waiving interest and some part of principal amount of loan.
Management is hopeful of favourable decision and as such sees no
further liability and accordingly has not provided any liability
towards interest including penal interest expense. Similar position is
in case of SIDBI term loan.
c) Major Component of deferred tax liability is depreciation. In view
of brought forward tosses & depreciation as well as current year's
losses, deferred tax liability has not been recognized considering
absence of virtual certainty.
d) Previous year figures have been rearranged, recasted and regrouped
wherever considered necessary.
e) Sundry debtors, loans and advances are subject to confirmation.
f) In the opinion of Board, ail the fixed assets and current assets,
loans and advances have a value on realisation in the ordinary course
of business at least equal to the amount at which they are stated.
g) Considering the fact that Hyderabad unit was not in operation during
the year, no depreciation is provided on building, plant and machinery
and all other fixed assets installed at Hyderabad unit.
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