1. Security Particulars of Secured Loans
i. The term loans availed from Indian Bank and Indian Overseas Bank
are primarily secured by:
(a) Paripasu Charge on the Land and appurtenances therewith located at
Kalapatti Village at Coimbatore and land located at Erode.
(b) Paripasu Charge on the entire fixed assets (Present & Future) of
(c) Charge on the leasehold rights of the building at Erode in the name
of M/s Idhayam Hospitals Erode Limited, Erode.
(d) Charge on the leasehold rights of the medical equipments in the
name of M/s Idhayam Hospitals Erode Limited, Erode.
The above facilities are also collaterally secured by stock and book
debts of the Company.
ii. In addition to the above, the subsidiary company has given
corporate guarantee to the limits availed by the company.
iii. The term loans and working capital facilities are further
guaranteed by the personal guarantees of the Chairman and Managing
Director and Vice Chairman and Joint Managing Director of the Company.
iv. Secured loans from others represents Hire Purchase loans from BMW
India Financial Services Private Ltd & SREI Equipments Finance Pvt Ltd
secured by hypothecation of assets purchased.
1. The Company has provided for employee benefits as per Accounting
Standard 15 in respect of defined benefit plan (Gratuity and Long Term
(a) Description of the company''s defined benefit plan:
The Company operates a defined benefit plan for payment of post
employment benefits in the form of Gratuity and Long Term compensated
absence. Benefits under the plan are based on pay and years of service
and are vested on completion of five years of service, as provided for
in the Payment of Gratuity Act, 1972. The terms of the benefits are
common for all the employees of the company.
2. In-patients and out patients revenue is net of
3. Contingent Liabilities: (Rs in lacs)
As at As at
(a) Estimated amount of contracts remaining to 141.43 772.12
be executed on capital account
(b) Letters of Credit for capital equipment''s 67.14 163.88
(c) Demand of Customs Duty raised by the
authorities disputed and not acknowledged 189.46 189.46
(d) Claims of various nature made against the
Company not acknowledged as debt 87.86 93.71
4. Segment Reporting
Running of Hospitals is the only operating segment for the company. The
entire financials and profit given are related only to this segment.
5. Provision for taxation includes provision for Wealth Tax. Income
tax assessments have been provisionally completed upto the assessment
6. Previous As notified by ministry of corporate affairs, revised
schedule VI under the companies act, 1956 is applicable to the
financial statement for the financial year commencing on or after 1st
April 2011 .Accordingly, the financial statement for the year ended
31st March 2012 is prepared in accordance with the revised schedule
VI. The amount and disclosures included in the financial statement of
the previous year have been reclassified to conform to the requirement
of revised schedule VI.
7. Figures have been rounded off to the nearest thousands.