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Fortis Malar Hospitals
BSE: 523696|ISIN: INE842B01015|SECTOR: Hospitals & Medical Services
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« Mar 09
Notes to Accounts Year End : Mar '11
1.  Segment Reporting:
 
 As the Companys business activity primarily falls within a single
 business and geographical segment, there are no additional disclosures
 to be provided in terms of Accounting Standard 17 Segment Reporting
 
 2.  Fixed asset include, medical equipment, purchased through HDFC bank
 Ltd, under confirmed irrevocable foreign deferred letter of credit
 payable in US Dollars, after 36 months from 3rdOctober 2008. Liability
 has been adjusted on value of the Dollar at the close of the year.
 
 3.  Details of Directors Remuneration
 
 (a) In view of the approval from Ministry of Company Affairs, the
 previous year figure has been reworked. Provision for incentives has
 been scaled down, to bring down the total remuneration paid to the
 Director to the limit approved by Ministry of Company Affairs Rs.
 7,208,211 and excess remuneration paid Rs. 176,569 is being recovered.
 The figure for the current year is exclusive of Rs. 1,823,431 included
 in the provision for incentives for the financial year 2010-2011
 
 (b) As the future liability for Gratuity and leave encashment is
 provided on an actuarial basis for the company as a whole, the amount
 pertaining to the Directors is not ascertainable and, not included
 above.
 
 4.  The balances outstanding in Hospital Sundry Debtors and Creditors
 are subject to confirmation.
 
 5.  Figures are regrouped and reclassified wherever necessary.  The
 figures are rounded off to nearest Rupees
 
 6.  Provision for incentives include Rs.1,823,436 provision created for
 the whole time director(Previous year Rs. 25 lacs, (scaled down to Rs.
 5 lacs during the current financial year)).
 
 7.  Assets, having original cost Rs. 59,331,032, which have become
 obsolete and irrepairable having, very little scrap value were removed
 from the gross block consequently written down value of Rs. 2,108,549
 has been written off in the books of accounts.
 
 8.  Provision for gratuity includes additional provision Rs. Nil
 assessed by the independent actuary for the liability existed at the
 beginning of the year.  (Previous year Rs. 1,691,197)
 
 9.  The company has been regularly remitting the service tax due for
 the payments received from all TPAs including M/s. Star Health and
 Allied Insurance Co. Ltd, except for the payments received under TNCM
 Insurance Scheme. There has been a certain delay in realization and
 remittance of Service Tax due on amount due from M/s. Star Health and
 Allied Insurance Co. Ltd., TPA for TNCM Insurance Scheme. For the
 payments received under the said scheme an amount of Rs. 41.32 lacs
 (more than six months Rs. 10.95 lacs) was not remitted to the
 authorities
 
 10.  Disclosure under AS-18 - Related Parties as on 31st March, 2011
 
 (I).  LIST OF RELATED PARTIES (AS CERTIFIED BYTHE MANAGEMENT):
 
 A.  Enterprises under control (whether directly or indirectly) of
 reporting enterprise
 
 Malar Stars Medicare Limited
 
 Enterprises which contol (directly or indirectly) reporting enterprise
 
 Fortis Healthcare Holdings Limited
 
 Fortis Healthcare (India) Limited
 
 RHC Holding Private Limited (Holding Co. of FHHL) (w.e.f. December
 22,2010)
 
 International Hospital Limited
 
 Enterprises which are under common control with reporting enterprise
 
 (a) Subsidiaries of Fortis Healthcare (India) Limited
 
 Fortis Hospotel Ltd.
 
 International Hospital Limited
 
 Escorts Heart Institute And Research Centre Limited
 
 Escorts HeartAnd Super Speciality Institute Limited
 
 Escorts HeartAnd Super Speciality Hospital Limited
 
 Fortis Health Management Limited
 
 Fortis Healthcare International Limited
 
 Lalitha Healthcare Private Limited
 
 Fortis Hospitals Limited
 
 Fortis Emergency Services Limited
 
 Escorts Hospital & Research Centre Limited
 
 Fortis Global Healthcare (Mauritius) Limited
 
 Fortis C-Doc Healthcare Limited (w.e.f. September 17,2010)
 
 Fortis Asia Healthcare Pte. Limited, Singapore (w.e.f. January 7,2011)
 
 Fortis Global Healthcare Infrastructure Pte. Limited, Singapore (w.e.f.
 March 31,2011)
 
 Kanishka Housing Development Company Limited
 
 (b) Subsidiaries of Fortis Healthcare Holdings Limited 
 
 Hiranandani Healthcare Private Limited
 
 Fortis HealthStaff Ltd.
 
 Fortis Hospital Management Ltd.  
 
 Religare Wellness Ltd.  
 
 Hospitalia Eastern Private Limited 
 
 Medsource Healthcare Pvt. Ltd.  
 
 (Subsidiary of Religare Wellness Ltd.)
 
 (c) Subsidiaries of RHC Holding Private Limited (Holding Company of
 FHHL)
 
 Fortis Healthcare Holdings Limited
 
 Fortis Global Healthcare Ltd
 
 A-1 Book Company Private Limited
 
 RHC Finance Private Limited
 
 Maple Leaf Buildcon Private Limited
 
 Todays Holdings Private Limited
 
 Religare Infotech Private Limited
 
 RHC Financial Services (Mauritius) Ltd
 
 Fortis Global Healthcare Holdings Pte. Ltd (Singapore)
 
 Religare Infotech Pty Limited
 
 Altai Investments Limited
 
 Quality Healthcare Limited
 
 Quality Healthcare Medical Services Limited
 
 Quality Healthcare Medical Holdings Limited
 
 Portex Limited
 
 Quality Healthcare Services Limited
 
 Green Apple Associates Limited
 
 Quality Healthcare Hongkong Limited
 
 Quality HealthCare Medical Services (Macau)Limited
 
 Berkshire Group Limited
 
 Healthcare Opportunities Limited
 
 GlobalRX Limited
 
 SmartLab Limited
 
 Quality HealthCare Medical Centre Limited
 
 Universal Lane Limited
 
 Quality HealthCare Chinese Medicine Limited
 
 Quality HealthCare Psychological Services Limited
 
 Quality HealthCare Dental Services Limited
 
 Quality HealthCare Nursing Agency Limited
 
 Quality HealthCare Physiotherapy Services Limited
 
 Dynamic People Group Limited
 
 Normandy (Hongkong) Limited
 
 Quality EAP (Macau) Limited
 
 TCM Prodicts Limited
 
 Great Option Limited
 
 Marvellous Way Limited
 
 Poltallock Limited
 
 Summerset Green Limited
 
 Allied Medical Practices Guild Limited
 
 Quality HealthCare Professional Services Limited
 
 D3 Health Services Limited
 
 GHC Holding Limited
 
 CASE Specialist Limited
 
 Jadeast Limited
 
 Jadefairs International Limited
 
 Jadison Investment Limited
 
 Jadway International Limited
 
 Megafaith International Limited
 
 Fortis Healthcare Singapore Pte. Limited
 
 B.  Associate or JV of reporting enterprise Investing party of which
 reporting enterprises is an associate NIL
 
 C.  individuals (directly or indirectly) having control or significant
 influence over reporting enterprise
 
 Mr Malvinder Mohan Singh
 
 Mr Shivinder Mohan Singh
 
 Relatives of such individuals
 
 Mrs. Nimmi Singh
 
 Mrs. Japna Malvinder Singh
 
 Mrs. Aditi Shivinder Singh
 
 Ms. Nimrita Parvinder Singh )
 
 Ms. Nanki Parvinder Singh )
 
 Ms. Nandini Parvinder Singh )
 
 Master Anhad Parvinder Singh ) MINOR
 
 Master Udayveer Parvinder Singh )
 
 Master Vivan Parvinder Singh )
 
 Master Kabir Parvinder Singh )
 
 D.  Key managerial personnel(s)
 
 Mr. Krish Ramesh
 
 Relatives of Key managerial personnel(s)
 
 Ms.R.Uthra.Wife
 
 Mr. R. Krishnamachari, Father
 
 Late Smt. K. Kalyani, Mother
 
 Mr. R. Praveen Kumar, Son
 
 Ms. R. Prashanthi
 
 Mr. K. Ramkumar, Brother
 
 Mr. K. Ravichandaran, Brother
 
 Mrs. R. Shamala, Brothers Wife
 
 Mrs. R. Sumathi, Brothers Wife
 
 E.  Enterprises over which any person mentioned at (c) and (d) have
 significant influence
 
 Religare Enterprises Limited (REL)
 
 Religare Securities Limited
 
 Religare Finvest Limited
 
 Religare Commodities Limited
 
 REL Infrafacilities Limited (formerly known as Religare
 
 Realty Limited)
 
 Religare Venture Capital Ltd.
 
 Religare Insurance Broking Ltd.
 
 Religare Finance Limited
 
 Religare Capital Markets Limited
 
 Religare Macquarie Wealth Management Limited
 
 Religare Health Insurance Company Limited
 
 RELIGARE ARTS INITIATIVE LIMITED
 
 Religare United Soccer Limited
 
 Religare Arts Investment Management Limited
 
 AEGON Religare Life Insurance Company Limited
 
 Vistaar Religare Capital Advisors Limited
 
 Religare Asset Management Company Limited
 
 Religare Trustee Company Ltd,.
 
 Mausam Films Limited
 
 Vistaar Religare Films Limited
 
 Vistaar Religare Media Limited
 
 Vistaar Religare Pictures Limited
 
 Vistaar Religare Entertainment Limited
 
 Milestone Religare Investment Advisors Private Limited
 
 Religare Housing Development Finance Corporation
 
 Limited (Formerly known as Maharishi Housing
 
 Development Finance Corporation Limited)
 
 Religare Advisory Services Limited
 
 Religare Capital Markets Plc.
 
 Hichens, Harrison (Middle East) Limited
 
 Hichens, Harrison (Ventures) Limited
 
 Religare Capital Markets (UK) Limited
 
 Religare Hichens Harrison Consultoria Internacional
 
 Ltd
 
 Religare Capital Markets Pty Limited
 
 Religare Capital Markets Inc
 
 London Wall Nominees Limited
 
 HH1803.Com Limited
 
 Tobler (Mauritius) Limited
 
 Tobler (UK) Limited
 
 Religare Global Asset Management Japan Co. Ltd.
 
 Religare Investment Advisory (Mauritius)
 
 Religare Investment Holdings (UK) Ltd.
 
 Charterpace Limited
 
 Blamire Limited
 
 Hichens, Harrison (Far East) Pte Limited
 
 Dion Global Solutions Limited
 
 Religare Technologies Limited
 
 Regius Overseas Holding Co. Ltd.
 
 Dion Global Solutions Pty Ltd.
 
 Dion Global Solutions (Australia) Pty Ltd.
 
 Dion Global Solutions (Development) Pty Ltd.
 
 Dion Global Solutions (Asia Pacific) Pty Ltd.
 
 Dion Global Solutions (NZ) Ltd.
 
 Dion Global Solutions (HK) Ltd.
 
 Dion Global Solutions (UK) Ltd.
 
 Dion Global Solutions (MY) Sdn Bhd
 
 Dion Global Solutions (Singapore) Pte. Ltd.
 
 Religare Technova Global Solutions Vietnam Company Ltd.
 
 Super Religare Laboratories Limited
 
 MENA Healthcare Investment Company Limited
 
 Medical Management Company Limited
 
 Super Religare Laboratories International Limited
 
 Super Religare Laboratories International FZ-LLC
 
 Super Religare Reference Laboratories (Nepal) Pvt. Ltd.
 
 RHC Holding Private Ltd
 
 Oscar Investments Ltd.
 
 A-1 Book Company (P) Ltd
 
 Malav Holdings (P) Limited
 
 Luxury Farms (P) Ltd.
 
 Vistas Realtors Private Limited
 
 Shivi Holdings (P) Ltd
 
 Greenview Buildtech Private Limited
 
 RC Nursery (P) Ltd.
 
 Shimal Research Laboratories Ltd
 
 Hospitalia Informations Systems (P) Ltd
 
 ANR Securities Limited.
 
 Bindas Realtors Private Limited
 
 Vistas Complexes Private Ltd
 
 Meadows Buildtech Private Limited
 
 Fortis Clinical Research Ltd
 
 Green Biofuels Farms Private Ltd
 
 Malsh Healthcare (Partnership Firm)
 
 OscarTraders (Partnership Firm)
 
 Religare Voyages Limited
 
 ReligareAviation Limited
 
 Religare Aviation Training Academy Limited
 
 Religare Travels (India) Limited
 
 Religare Bullion Limited
 
 ReligareAviation Engineering Limited 
 
 Religare Flysims Limited 
 
 Religare Share Brokers Limited 
 
 Piramal Diagnostic Services P Limited 
 
 DDRC Piramal Diagnostic Services P Limited 
 
 Religare Global Asset Management (HK) Ltd.
 
 Religare Capital Markets (EMEA) Limited 
 
 Kyte Management Limited 
 
 Religare Capital Markets (USA) LLC 
 
 Religare Capital Markets (Hongkong) Limited 
 
 Religare Capital Markets (Singapore) Pte Limited 
 
 Religare Voyages Business Services Private Limited
 
 Notes:
 
 1. Entities in which person mentioned in (c) and (d) have significant
 influence whether directly or indiretly, singly or jointly, are also
 included in the list.
 
 11 Disclosures Under Accounting Standard -15 (Revised) On Employee
 Benefits:
 
 B.  Defined Benefit Fund
 
 The company has a defined benefit gratuity plan, whereby the employees
 are entitled to gratuity benefit on the basis of last salary drawn and
 completed number of years of services.
 
 The company also provides Leave Encashment benefit to its employees,
 which is unfunded. The company also provides Super Annuation benefits
 to its senior executives.
 
 The following table summaries the components of net benefit expenses
 recognised in the profit and loss account and the amounts recognised in
 the balance sheet.
 
 Notes:
 
 a) The estimates of future salary increases, considered in actuarial
 valuation, take account of inflation, seniority, promotion and other
 relevant factors, such as supply and demand in the employment market.
 
 b) The Companys expected contribution to the fund in the next year is
 not presently ascertainable and hence, the contributions expected to be
 paid to the plan during the annual period beginning after the balance
 sheet date as required by Para 120 (o) of the Accounting Standard 15
 (Revised) on Employee Benefits are not disclosed.
 
 12.  CONTINGENT LIABILITY
 
 a) Estimated amount of contracts to be executed on capital account and
 not provided for Rs. 31.87 lacs
Source : Dion Global Solutions Limited
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