| 1. The Company has only one class of shares referred to as equity
shares having a par value of Rs. 10/- each. Each, holder of equity
shares is entitled to one vote per share with same rights, preferences.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive the 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. The company declares and pays dividends in Indian rupees. The
dividend, if proposed by the Board of Directors, is subject to the
approval of the shareholders in the ensuing Annual General Meeting.
3. Vehicle loan from State Bank of Bikaner & Jaipur (SBBJ) is secured
against hypothication of specified Vechile, repayable in 60 Equited
monthly installment of Rs. 10,099/- each , bears rate of interest of
12%.
4. Term Loan from Small Industries Development Bank of India (SIDBI)
is secured by hypothication of Plant & Machinery situated at 38, Kanota
Bagh, JNL Marg, Jaipur and personal gurantee of Dr. B.R.Soni, Managing
Director and Dr. Anju Soni Director of the company. The loan is
repayable in 60 monthly installment of Rs. 23,800/- (Principal) plus
interest @ 12.50% p.a calculated on monthly basis and started from Dec.
2008 and last instalment will falls due in Nov. 2013.
5. Term Loan from Small Industries Development Bank of India (SIDBI)
is secured by Extension of first charge by way of hypothication in
favour of SIDBI of all the movable assets of the Company, both present
& future, including plant & machnary, machinary spares, tools &
accessories, office equipments, computer, furniture & fixtures etc.,
acquired/to be acquired by the Company and irrevocable and
unconditional personal gurantee of Dr. B.R.Soni, Managing Director and
Dr. Anju Soni Director of the company. The loan is repayable in 54
monthly installments, comprising of first 53 installment of Rs.
175,500/- each and last installment of Rs. 198,500/-(Principal plus
interest @ 13% p.a calculated on monthly basis) after a moratorium of 6
Months from the date of first disbursement of loan.
6. Term Loan from Baja Finance Limited is secured by mortgate of land
& Building situated at 38, Kanota Bagh, JNL Marg, Jaipur and personal
gurantee of Dr. B.R.Soni, Managing Director and Dr. Anju Soni, Director
of the company. The loan is repayment in 130 Equited monthly
installment of Rs. 807,180/- each having rate of interest 12.25% p.a.
Instalment started from April 2011 and last instalment will falls due
in January 2022.
7. Balances of debtors, creditors and loans & advances are subject to
confirmation and reconciliation.
8. Provision for tax as per the Income Tax Act, 1961 of Rs. 9, 75,000
has been made during the year.
9. The Company continued its accounting policy for taxes on income to
comply with the provisions of new accounting standard relating to
accounting for taxes on income (AS-22) issued by the Institute of
Chartered Accountants of India. Consequently, in accordance with the
provision of the said Accounting Standard, the company has recorded a
net deferred tax liability of Rs. 14,047.10 during the year as
expenditure to Profit & Loss a/c.
10. There is a debit balance of Rs.19.35 lacs appearing in the loans and
advances against M/s Laxmi Imaging & Medical Research Centre, Jaipur
which has been disputed by the party. The company has initiated the
legal proceedings against the party in civil court at Jaipur, during
the year 2001.
11. Figures for previous year have been regrouped/ rearranged wherever
found necessary.
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