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Vivo Biotech Directors Report, Vivo Biotech Reports by Directors
Vivo Biotech
BSE: 511509|ISIN: INE380K01017|SECTOR: Pharmaceuticals
, 16:01
Vivo Biotech is not listed on NSE
Download Annual Report PDF Format 2013 | 2010
Directors Report Year End : Mar '13    Mar 12
Dear Members,
 The Directors have pleasure in presenting you the 26th Annual Report of
 your company together with the Audited Accounts for the year ended 31st
 March, 2013.
 Financial Results                                  (Rs. in Lakhs)
 Particulars                                 2012-13      2011-12
 Total Income                               1,512.88     1,252.96
 Profit before interest, 
 Depreciation and Tax                         311.84       534.80
 Interest                                      77.64       340.33
 Depreciation                                 157.00       208.23
 Provision for Taxation                        14.71         Nil
 Profit after interest, 
 Tax and depreciation                          62.50       (13.76)
 Deferred Tax provision                        38.50       (84.48)
 Balance brought forward                     (611.53)      682.25
 Balance Carried to Balance Sheet            (572.82)     (611.53)
 Revenues : The total income of the Company for the FY 2012-13 comprises
 operating revenues of Rs. 1512.88 Lacs as against Rs. 1252.96 Lacs in
 FY 2011-12
 Profits : Profit before Tax (PBT) stood at Rs. 77.20 Lacs as against
 Rs. (13.76) for the previous year. Profit after Tax (PAT) stood at Rs.
 24 Lacs as against Rs. 70.72 lacs for the previous year.
 Reserves and Surplus
 During the year the Company has not transferred any amount to Reserves
 and Surplus.
 Material changes and commitments;
 There are no material changes and commitments occurred between the end
 of the financial year of the company and the date of the report
 affecting the financial position of the company
 In accordance with the provisions of the Companies Act, 1956, Mr. K.
 Sunder retires by rotation at the forthcoming Annual General Meeting
 and being eligible, offers himself for reappointment.
 Mr. K. Sri Kalyan Resigned to the Board of Directors and Mr. M. Kalyan
 Ram is appointed as Whole Time Director of the company. Dr.V. Narasaiah
 is appointed as Additional Director on the Board.
 Brief resume of the Directors proposed to be reappointed, nature of
 their expertise in specific functional areas, directorships in other
 companies as stipulated under clause 49 of the listing agreement with
 the stock exchanges in India are provided in the report on corporate
 Directors'' Responsibility Statement:
 Pursuant to the requirement under Section 217 (2AA) of the Companies
 Act, 1956 with respect to the Directors'' Responsibility Statement, it
 is hereby confirmed that:
 i) In the preparation of the annual accounts for the year ended 31st
 March, 2013, the applicable accounting standards have been followed and
 there are no material departures.
 ii) We have selected appropriate accounting policies and applied them
 consistently and have made judgments and estimates that are reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of the Company as on 31st March 2013 and of the Profit of the company
 for the financial year ended 31st March 2013.
 iii) We have taken proper and sufficient care for the maintenance of
 adequate accounting records in accordance with the provisions of
 Companies Act, 1956 for safeguarding the assets of the Company and for
 preventing and detecting fraud and other irregularities; and
 iv) We have prepared the annual accounts for the financial year ended
 31st March, 2013 on a going concern basis.
 Auditors and Audit Report
 M/s. P. Murali & Co., Chartered Accountants, Statutory Auditors of the
 Company retire at the conclusion of the ensuing Annual General Meeting
 and being eligible, offer themselves for reappointment.
 The company has received letter from the Statutory auditors to this
 effect that their reappointment, if made would be within the prescribed
 limits under section 224(1B) of the Companies Act, 1956 and they are
 not disqualified for such reappointment within the meaning of section
 226 of the said act.
 Fixed Deposits
 The Company has not accepted fixed deposits as on 31st March, 2013 so
 as to attract the provisions of Section 58A of the Companies Act,1956
 read with Companies (Acceptance of the Deposits Rules) 1975 as amended
 from time to time.
 Pursuant to the provisions of Section 212 of the Companies Act, 1956
 (Act), documents in respect of the various subsidiaries viz.,
 Directors'' Report, Auditor''s Report, Balance Sheet and Profit and Loss
 Account, are required to be attached to the Balance Sheet of the
 holding company. However, in terms of the provisions of Section 212(8)
 of the Act, the Government of India, Ministry of Corporate Affairs, has
 vide Circular No. 2/2011 dated 8th February, 2011 granted exemption
 from the provisions of Section 212(1) of the Act. Accordingly, the
 Annual Report does not contain the financial statements of the
 subsidiaries of the Company. However, the Company will make available
 the audited annual accounts and related detailed information of the
 subsidiaries to the shareholders upon request in accordance with the
 applicable law. These documents are also available for inspection at
 the Registered Office of the Company during business hours.
 A statement pursuant to the provisions of Section 212(1)(e) of the Act
 appears elsewhere in the Annual Report.
 Subsidiary Companies
 The financials pertaining to subsidiary companies have been given
 elsewhere in this report.
 Particulars of Employees
 In pursuance of the provisions of section 217(2A) of the Companies Act,
 1956 read with the Companies (Particulars of Employees) Rules 1975, the
 Directors are to report that there are no employees in receipt of
 remuneration of Rs. 60,00,000/- or more per annum or Rs. 5,00,000/- or
 more per month where employed for a part of the year.
 Report on Corporate Governance
 Your Company had taken steps and complied with most of the
 recommendations during the year.  For the year under review the
 Compliance Report is provided in the Corporate Governance section in
 this Report. The Auditors certificate on Compliance with the mandatory
 requirements of Corporate Governance is given in Annexure to this
 Management Discussion and Analysis
 This has been dealt with in the separate Annexure to this Report.
 Your directors would like to place on record their appreciation of
 support, co-operation and assistance received from the company''s
 clients, Central Government authorities, bankers, shareholders and
 suppliers. The board wishes to convey its appreciation of hard work,
 solidarity, cooperation and support put in by the company''s employees
 at all levels in enabling such growth.
                           FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
                           For Vivo Bio Tech Ltd
 DATE : 29-08-2013         Whole Time Director & CEO    Whole Time 
Source : Dion Global Solutions Limited
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