Moneycontrol Be a Pro
Get App
SENSEX NIFTY
Moneycontrol.com India | Notes to Account > Pharmaceuticals > Notes to Account from Godavari Drugs - BSE: 530317, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > PHARMACEUTICALS > NOTES TO ACCOUNTS - Godavari Drugs

Godavari Drugs

BSE: 530317|ISIN: INE362C01012|SECTOR: Pharmaceuticals
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Nov 21, 15:40
15.75
0.8 (5.35%)
VOLUME 756
Godavari Drugs is not listed on NSE
Mar 14
Notes to Accounts Year End : Mar '15
Details of Equity Shareholders holding more than 5 % of equity shares
 along with No.of Equity Shares held at the beginning and at the end of
 the reporting period are as given below:-
 
 Note No 2.1 A
 
 Loans from Directors & Other Related Parties are repayable after 12
 Months and carries interest rate Of 15% p.a.
 
 Note No.2.2 B
 
 Repayment of Unsecured loans are sub- ordinated to bank borrowings -
 Cash credit from Andhra Bank
 
 Note No. 2.2.a Employee Benefit:
 
 As per Accounting Standard 15 Employees Benefits the disclosures of
 Employees Benefit as defined in the Accouting Standard are given below:
 
 Defined Contributions:
 
 Payments and Provisions for employees include Rs.11.96 lakhs (Previous
 Year RS.10.11 lakhs) recognised as expenses in respect of defined
 contribution plans.
 
 Defined Benefit Plans:
 
 Gratuity - Gratuity is payable to all the eligible employees of the
 Company on resignation, death, Permanent disablements in terms of the
 Payment of Gratuity Act,1972.
 
 Leave Encashment - Entitlement of annual leave is recognised when they
 accrue to employeesAnnual leave can either be availed or encashed
 subject to a restriction on the maximum number of accumulation of
 leaves.
 
                                                   For the       For the
                                                Year Ended    Year Ended
                                                31.03.2015    31.03.2014
 
 Note. No. 2.3
 
 (a) CONTINGENT LIABILITIES :
 
 (i) On account of Bank Guarantee                  500,000            0
 
 (ii) Claims against the company/ disputed 
 liabilities not acknowledged as debts:
 
 (a) In respect of Excise matters                1,629,999            0
 
 Demand raised for the year 2008-09 to 2013-14 
 (Oct-2013)-Appeal pending with Commissioner 
 Appeals (Central Excise - Nagpur)
 
 (b) In respect of Customs matter - Demand 
 raised for the year 2000-2001.and
 
 Appeal pending with CESTAT Mumbai)                696,062           0
 
 The Company expects no liability in respect
 of above matters.
 
 TOTAL                                           2,826,061           -
 
 (a) In accordance with the provisions of Schedule II of the Companies
 Act, 2013 effective from 1st April,2014, the carrying value (Net of
 residual value) amounting to Rs. 9,62,197/- (Net of Deferred Tax of Rs.
 4,30,273/-) as a transitional provision has been recognised in the
 retained earnings.
 
 (b) Further in case of assets aquired prior to 1st April,2014, the
 carrying value of assets (Net of Residual Value) is depreciated over
 the remaining useful life as determined effective from 1st April, 2014.
 
 (c ) Depreciation & Amortization expenses for the year would have been
 higher by Rs.21,42,938/- had the company continued with the previous
 assessment of useful life of such assets.
 
 Note no. 2.4
 
 The Company has not obtained Confirmations of balances outstanding to
 trade payables and receivables to debit and credit of the parties which
 are subject to reconciliation and review thereof by the management.
 
 Note No. 2.5
 
 RELATED PARTY TRANSACTIONS
 
 Names of Associated Companies
 
 Godavari Capital Pvt. Ltd.
 
 Godavari Homes Pvt. Ltd A.K. Paper Products Pvt. Ltd.
 
 NAMES OF ASSOCIATED FIRMS : NIL NAMES OF KEY MANAGEMENT PERSONNEL
 
 Mr. Mukund Kakani, Mr. Mohit Jaju, Mr. Kirti Kumar Jain and Mr. Jeevan
 Innani Names of Relatives of Key Management Personnel
 
 Mr. Ghanshyam Jaju, Mrs. Kamala Jaju, Ghanshyam Jaju HUF, and Mrs.
 Sushma kakani
 
 Note No. 2.6
 
 Previous period''s figures have been recast/restated to confirm to the
 current year presentations.
Source : Dion Global Solutions Limited
Quick Links for godavaridrugs
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.