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Moneycontrol.com India | Notes to Account > Pharmaceuticals > Notes to Account from Raymed Labs - BSE: 531207, NSE: N.A
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Raymed Labs

BSE: 531207|ISIN: INE741C01017|SECTOR: Pharmaceuticals
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Raymed Labs is not listed on NSE
Mar 13
Notes to Accounts Year End : Mar '14
1. ACCOUNT BALANCES
 
 Balances of Sundry Debtors, Sundry Creditors, Loans & Advances and
 Unsecured Loans are still subject to reconciliation and confirmations.
 
 2. In the opinion of the Board, the Current Assets, Loans and Advances
 have a value on realization in the ordinary course of business, which
 may fluctuate from time to time.
 
 3. The accumulated losses of the company exceed the paid-up capital of
 the company.
 
 4. SEGMENT REPORTING
 
 The company is operating in a single line of product namely
 manufacturing and trading of medicines. Since there is no reporting
 Segment, the requirements of Accounting Standard (AS-17 ''Segment
 Reporting'') issued by the Institute of Chartered Accountants of India
 are not applicable for the company.
 
 5. CONTINGENT LIABILITIES
 
 Contingent liabilities not provided for in the financial statements for
 the current year are NIL (Previous year NIL).
 
 6. TAXES ON INCOME
 
 The company has not earned profit during the year and have Losses in
 previous years. Provision for Deferred Tax Assets has not been made due
 to uncertainty of profit earning by company in near future. Provision
 for MAT is not required.
 
 7. RELATED PARTY TRANSACTION
 
 As per accounting standard No. 18 issued by the Institute of Chartered
 Accountants of India, related parties in terms of the said standard are
 disclosed below.
 
 No Transaction with related party has been made during the year.
 
 8.  RENT OF FACTORY PREMISES
 
 Mr. Ajai Goyal is allowing use of his factory premises at no rent.
 
 9.  Figures for the previous year have been regrouped wherever
 considered necessary to conform to the current year''s presentation.
 
 10. Schedules No 1 to 21 form an integral part of the Balance Sheet and
 the Profit & Loss Account of the Company.
Source : Dion Global Solutions Limited
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