Contingent Liability :
Bank Guarantees issued are Rs 17.50 lacs of 100% margin.
1 The margin for bank guarantees is shown by the company under the head
2 As per approval received from RBI and as per the Technology Transfer
Agreement Technical know how fees was payable of Rs. 493.22 lac by the
company in previous year and shown as capital work in progress.
Against this a sum of Rs. 169.83 lac is still payable. The company has
received a letter from M/s Biocore Medical Technologies, Inc. waiving
off the payable amount. The company intends to intimate RBI on the
matter and only then write back the liability.
In view of the letter obtained by the company from M/s Biocore Medical
Technologies, Inc. the retainable value of the technology is higher
them its book value as the technology is being used in India and
3 As per the legal advise obtained by the Company most of unsecured
loans in the form of fixed deposits and bonds are overdue and barred by
limitation hence provision of interest is not made.
4 Some of the balances appearing under Sundry Debtors are subject to
confirmation and reconciliation and consequent adjustments arising out
there from would be done in the year of reconciliation. - ''
5 Previous year figures have been reclassified and regrouped wherever
6 Additional information pursuant to part (3) & (4) of part II of
Schedule VI of Companies Act, 1956 is given below:
7 (a) Segment report is based on business segments. These business
segments are: 1. Biotech Division 2. IT Enabled Services 3. Others.
There are no geographical segments.
(b) Segment accounting policies are the same as those used in the
preparation of the financial statements.
The segments revenue and segment expenses are directly attributable to
the segments. The assets are not classified into the segments owing to
the nature of activities.