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Moneycontrol.com India | Notes to Account > Pharmaceuticals > Notes to Account from Amrutanjan Health Care - BSE: 590006, NSE: AMRUTANJAN
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Amrutanjan Health Care
BSE: 590006|NSE: AMRUTANJAN|ISIN: INE098F01015|SECTOR: Pharmaceuticals
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« Mar 10
Notes to Accounts Year End : Mar '11
1 Monies for which the company is contingently liable:
 
 a Bonds executed in favour of Collector of Central Excise, Chennai -
 Rs.8,00,000/- ( Rs.8,00,000 /-)
 
 b Guarantees/Letter of Credit issued on behalf of the Company by Banks
 -Rs. 2,25,34,291/- (Rs. 1,18,25,000/-)
 
 c Contingent liability in respect of Income Tax Rs. 20,43,194/- (Rs.
 20,43,194/-). However, the said amount has been paid under protest.
 
 e Claims against the company not acknowledged as debts -
 Rs.1,33,03,607/- (nil)
 
 2 Lease rent in respect of leasehold land has been revised by the
 Government of Tamilnadu with retrospective effect from November 2001
 and the arrears on this account upto 31st March 2011 is Rs.
 3,72,31,466. Since the enhancement of the rent is exhorbitant, the
 Company has contested the said revision before the appropriate forum.
 The matter is also pending before The Madras High Court in a writ
 petition. Based on the legal advice, the Company is hopeful of a
 favourable decision and hence no provision for the said liability is
 considered.
 
 3 Estimated amount of capital expenditure commitments Rs. 4,00,00,000/-
 (Rs. 9,79,00,000/-)
 
 4 Sundry Deposits represent Fixed Deposit with Shriram Transport
 Finance Company Limited and Dewan Housing Finance Corporation Limited
 made during the year for a period of 12 months.
 
 5 a The Company has transferred Rs. 2,55,014 /- (Rs.83,034/-) of
 unclaimed dividends to Investor Education and Protection Fund during
 the year.
 
 b Unclaimed Dividend amounting to Rs.9,549/- (Rs.9,549/-) is pending on
 account on litigation among claimants.
 
 6 The Company has made investments and granted advances to Holistic
 Beauty Care Limited aggregating to Rs.1,46,29,026/-.
 
 The Company has incurred significant setup cost leading to losses and
 exploring new business alternatives. However, as a matter of prudence
 contingency reserve of Rs. 1,25,00,000/- has been created for any
 possible erosion in the value of investments / advances.
 
 7 Provision for Taxation includes Rs.50,000 (Rs. 50,000/-) towards
 Wealth Tax.
 
 8.  Segment Information
 
 The Company has disclosed business segment as the primary segment and
 is organised in to two main business segments namely OTC products and
 Chemicals
 
 The Company caters mainly to the needs of the domestic market and as
 such there are no reportable geographical segments.  Segment Revenue,
 Segment Results, Segment Assets and Segment Liabilities include the
 respective amounts identifiable to each of the segments as also amounts
 allocated on a reasonable basis. Other unallocable expenditure includes
 revenues and expenses which are not directly identifiable to the
 individual segments as well as expenses which relate to the Company as
 a whole.
 
 9 Disclosure of Related Parties 
 
 (I) List of related parties and relationships:
 
 a) Parties where control 
 exists - Subsidiaries     : Data Quest Infotech and Enterprises Limited
 
                             Holistic Beauty Care Limited 
 
                             Siva''s Soft Drink Pvt Ltd
 
 b) Key Management 
 Personnel                 : Sri. S.Sambhu Prasad, Managing Director
 
 (c) Relatives of 
 Key Management Personnel  : Mrs. Rajeswari.S-Mother
 
 10 The company has made investment in 100% of Equity Shares in Siva''s
 Soft Drink Private Limited in February - 2011 for a consideration of
 Rs.25,70,00,000/-, out of which amount of Rs.96,20,000/-payable as on
 31st March 2011 to the erstwhile share holders is included under Other
 Liabilities in Schedule -11.
 
 11 Employee Benefits
 
 b Gratuity is administered through Group gratuity scheme with Life
 Insurance Corporation of India. The expected return on plan assets is
 based on market expectation at the beginning of the year, for the
 returns over the entire life of the related obligation
 
 Leave Salary
 
 The defined benefit obligations which are provided for but not funded
 as on 31-3-2011 is Rs. 26,13,715/- (Rs. 27,68,901/-)
 
 12 Previous year''s figures have been regrouped wherever necessary to
 comply with current year''s classification.
Source : Dion Global Solutions Limited
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