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 |