| 1. SHARE CAPITAL
Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of
Rs. 10 per share.
Each holder of equity shares is entitled to one vote per share. The
Company declares and pays dividend in Indian Rupees.
In event of liquidation of the Company, the holders of equity shares
would 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. CONTINGENT LIABILITIES:
Rs. in lakhs
As at 31st March As at 31st March
2014 2013
Estimated amounts of contracts
remaining to be executed
and not provided for 0.00 1,925.00
Claims under adjudication not
acknowledged as debts:
i) Demands raised by Income Tax,
Excise & Service Tax Authorities 58.01 58.01
Contingent Liabilities:
i) Bank & other Guarantees -
3. The company has invested in Medex Healthcare Global a software
development company which is into development of software related to
EMR and SaaS. During the current year investment made for acquiring16%
of the total shares of the company. The company has strategic
investment plan to take over the full control of the company over a
period of time.
4. Disclosure as per AS 15 -Retirement Benefits:
Post Retirement Employee Benefits
a) Description of Plan
i) Gratuity:
Disclosures required as per the Accounting Standard is as follows;
5. Segment Information (AS-17)
Company has only one segment of activity namely "healthcare Receivable
Management", therefore segment reporting as defined in AS-17 does not
apply.
6. Related Party Transactions:
As per the accounting standards 18 on "Related Party Disclosures"
notified under Companies Auditing Standards Rules, 2006, the related
Parties of the company and nature of relation are as follows:
RELATED PARTY NATURE OF RELATIONSHIP
Sooraj C. K. Key Management Personnel
Pradeep S Viswambharan Key Management Personnel
Thunga Software Pvt Ltd Subsidiary
Accentia Technologies FZE Subsidiary
GSR PBS Inc Subsidiary
GSR Systems Inc Subsidiary
Denmed Inc Subsidiary
Oak Technologies Inc Subsidiary
Accentia Education
services Pvt Ltd Subsidiary
7. Erstwhile GET, has taken commercial premises under financial lease.
The Company to recognize the lease as an asset and a liability. This
has been disclosed pursuant to Accounting Standards 19,"Leases"issued
by the Institute of Chartered Accountants of India.
8. The company has not received any intimation from the suppliers
regarding The Micro, Small and Medium Development Act, 2006 (the Act)
and hence disclosure regarding:
a) Amount due and outstanding to suppliers as at the end of the
accounting year.
b) Interest paid during the year.
c) Interest payable at the end of the accounting year.
d) Interest accrued and unpaid at the end of accounting year and has
not been provided.
The Company is making efforts to get the confirmations from the
suppliers as regards their status under the Act.
9. In the opinion of the Board, the Current Assets, loans and Advances
have a value on realization in the ordinary course of business at least
equal to the amount at which they are stated in the financial
statements and provision made for all known and determined liabilities
are adequate and not in excess of the amount stated.
10. Previous year figures have been regrouped, reclassified and
rearranged wherever necessary to confirm to this year's classification.
Figures with previous year are not comparable due to merging of the
company during the current year.
11. Balance sheet Abstract & Companies general business profile as
required by Part IV Schedule VI to the Companies Act 1956 is enclosed
in Annexure 'A'.
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