1. Secured Loans;
Working Capital Loan and Term Loan from State Bank of India: First charge on all current assets by way of hypothecation of all Stocks, book debts, other current assets, equitable mortgage of the factory land & building and Hypothecation of Plant & Machinery of the Company. Company land situated at Haridwar and Immovable properties of belongs to Directors and relatives has provided as Collateral security. The Directors of the company has provided personal guarantee for the working capital and Term Loan.
2. Related Party Transactions a) List of Related Parties
Subsidiary Companies NIL
Associates Companies controlled Cortex Laboratories
by key management personnel / Private Limited
relatives who are substantially interested
Key managerial personnel Nagireddy Seelam
RamachandraReddyKommula KonireddySeelam MovidiEswarRao PathakotaVenkatram Reddy Chandra Kalapanthamva
3. Previous year figures have been regrouped wherever if thought necessary in conformity with the current year groupings. Paise have been rounded off to the nearest rupee.Notes on financial statements, Cash Flow Statement and statement on accounting policies form an integral part of the balance sheet and profit and loss statement.
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