Pan Drugs Ltd. के अकाउंट के लिये नोट

Mar 31, 1999

Issued, Subscribed & Paid Up Share Capital :

5067500 Equity Shares of Rs 10/- each (including 3,60,000 equity shares of 10/- each issued in lieu of Capital of capital balance in erstwhile partnership firm A. P. Chemicals).

2] OTHER NOTES

A) CONTINGENT LIABILITIES

i) Bills Discounted remaining outstanding as on 31st March 1999 were Rs. 1,24,52,614 (Rs. 47,01,912).

ii) Unexpired value of Letters of Credit remaining outstanding as on 31st March 1999 were Rs. 2,38,29,974 (NIL).

iii) Guarantees given by the Company's Bankers as on 31st March 1999 were Rs. 30,00,000 (NIL).

B) Interest and finance charges includes Rs. 14,58,972 on Fixed loan (Previous year Rs. 11,42,068).

D) The amounts shown as Secured Loans in Schedule 3

a) Secured Borrowing

Amount Rs.

Anyonya Sahaykari Mandli co-operative Bank Ltd.

Term Loan 71,70,221

(8,884,755)

Gujarat State Financial Corpn.

Term Loans 5,23,136

(921.883)

SBI Factors & Commercial Services Ltd. 72,941

(36,54,250)

IDBI Bank Ltd.

Working Capital Facilities

Cash Credit 3,33,10,736

(NIL)

Bills Purchase/Bills Discounted 1,24,52,614

(Hundi) (NIL)

State Bank of India

Cash Credit/Bills Purchase NIL

and Bills Discount (Hundi) (1,46,14,852)

Security

Equitable mortgage of land & building on plot no. 168 and second charge on land & building at plot no. 167 at Nandesari and hypothecation of machinery financed under the loan.

Hypothecation of the machinery purchased from GSFC & lien on bank deposit of Rs. 3,00,000/-

Assignment of all debts arising out of sales transactions to approved parties.

Facilities from the Bank for working capital facilities secured by Hypothecation of Stocks of Raw Materials. Finished Goods work in Process & Book debts Personal guarantee of all directors and also Hypothecation of unencumbered Plant & Machinery. Equitable Mortgage of residential house of a director and Equitable Mortgage of Land and Building on plot no 167 and second charge on plot no. 168 at Nandesari of the Company.

b) Other Borrowings (Unsecured) :

Other borrowing disclosed under unsecured liabilities include an amount of Rs.4,11,597/- (previous year Rs.7,65,240/-) received from M/s. Apple Industries Ltd., for finance of vehicles The three vehicles have been acquired under hire purchase agreement with the said Company. The vehicles are disclosed in the fixed assets in the gross block at the full cash value. However, under the terms of hire purchase agreement, the Company does not have full ownership right of the said vehicles.

4. In the Opinion of the Board, the Current Assets, Loans and Advances are of approximately the same value if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably considered necessary.

5. Previous year figures are shown in brackets. Previous year figures are regrouped wherever necessary to make them comparable with the figures of the current year.

6. The Company has undertaken the measures to make its Hardware and Software Y2K Compliant which will be expected to be completed by November, 1999.

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Mar 31, 1998

1. Balances standing to the debit/credit of parties disclosed under the head Current Assets, Loans and Advances as well as Current Liabilities are subject to confirmation as are the balances from Financial Institutions and Unsecured Lenders.

2. The Inventories of the Company have been valued on the following basis

Raw Materials - At Lower of Cost or Market Value

Finished Goods - At Lower of Cost and net realisable value

Process Waste/Scrap - At estimated realisable value

3. The amounts shown as Secured Loans in Schedule 3 have been secured as under :

Amount Rs. Security

Anyonya Sahaykari Mandli Co-operative Bank Ltd.

Term Loan 8,884,755 Equitable mortgage of land and (6,521,933) building on plot no. 168 and second charge on land & building at plot no. 167 at Nandesari and hypothecation of machinery financed under the loan

Gujarat State Financial Corpn

Term Loan 921,883 Hypothecation of the machinery (1,135,420) purchased from GSFC & lien on bank deposit of Rs. 3,00,000/-

SBI Factores & Commercial 36,54,250 Assignment of all debts arising Services Ltd. (Nil) out of sales transactions to approved parties

State Bank of India Working Capital Facilities

Cash Credit 9,912,940 Facilities from the Bank for working (10,372,033) capital facilities secured by Hypothecation of Stocks of Raw Materials, Finished Goods work in Process & Book debts Personal guarantee of all directors and also Bills Purchase/Bills Discounted 4,701,912 Hypothecation of unencumbered (Hundi) (3,675,486) Plant & Machinery, Equitable Mortgage of residential house of a director and Equitable Mortgage of Land and Building on plot no. 167 and second charge on plot no. 168 at Nandesari of the Company.

4. In the Opinion of the Board, the Current Assets, Loans and Advances are of approximately the same value if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably considered necessary.

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Mar 31, 1997

A) Balances standing to the debit/credit of parties disclosed under the head Current Assets, Loans and Advances as well as Current Liabilities are subject to confirmation as are the balances from Financial Institutions and Unsecured Lenders.

b) The Inventories of the Company have been valued on the following basis

Raw Materials - At Lower of Cost or Market Value

Finished Goods - At Lower of Cost and net realisable value

Process Waste/Scrap - At estimated realisable value

d) Investments shown in the Balance Sheet are investments of Rs. 5,00,000/- made in State Bank of India 500 Nos. unsecured redeemable, subordinated Bonds of Rs. 1000/- each fully paid. Not Quoted. Rs. 1,00,000/- made in Punjab National Bank 10 Nos. unsecured, redeemable, subordinated Bonds of Rs. 10,000/- each fully paid, not quoted, Rs. 5,000/- made in Six years National Savings Certificate, Investment in Shares of Rs. 163,080/- in Anyonya Sahaykari Mandli Co-operative Bank Ltd. - 16,308 shares of Rs. 10/- each fully paid unquoted (Nil).

e) The amounts shown as Secured Loans in Schedule 3 have been secured as under :

Amount Rs.

Anyonya Sahakari Mandli Co-operative Bank Ltd.

Term Loan 6,521,933 Nil Gujarat State Financial Corpn

Term Loan 1,135,420 (1,484,800) State bank of India

Working Capital Facilities

Cash Credit 10,372,033 (4,603,349) Bills Purchase/Bill Discounted (L/C) Nil (1,563,530) Bills Purchase/Bills Discounted (Hundi) 3,675,486 (2,589.045) Export Packing Credit Nil (2,451,759)

Equitable mortgage of land & building on plot no.168 and second charge on land & building at plot no. 167 at Nandesari and hypothecation of machinery financed under the loan. Hypothecation of the machinery purchased from GSFC & lien on bank deposit Rs. 3,00,000/- Facilities from the Bank for working capital facilities secured by Hypothecation of Stocks of Raw Materials, Finished Goods, work in Process & Book debts. Personal guarantee of all directors and also Hypothecation of unencumbered Plant & Machinery, Equitable Mortgage of residential house of a director and Equitable Mortgage of Land and Building on plot no. 167 and second charge on plot no. 168 at Nandesari of the Company.

g) Salaries and wages includes directors' remuneration amounting to Rs. 132,192/. (Rs. 205,000/-).

h) Interest and finance charges includes Rs. 511,577/- on Fixed loan (Previous year Rs. 168,387/-).

4. In the Opinion of the Board, the Current Assets, Loans and Advances are of approximately the same value if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably considered necessary.

5. Previous year figures are shown in brackets. Previous year figures are regrouped wherever necessary to make them comparable with the figures of the current year.