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You can view the entire text of Notes to accounts of the company for the latest year

BSE: 530427ISIN: INE865B01016INDUSTRY: Photographic & Allied Products

BSE   ` 11.99   Open: 11.50   Today's Range 11.50
11.99
+0.57 (+ 4.75 %) Prev Close: 11.42 52 Week Range 10.00
27.00
Year End :2015-03 
Note 1. Contingent liabilities and commitments (to the extent not provided for)

Particular                                    As at              As at
                                         31st March          31st March
                                             2015                2014
                                        Rs.in Lakh           Rs.in Lakh
Contingent liabilities

(a) Guarantees                                29.12             32.38

(b) Letter of Credit                           1.99             23.31

(c) Claim not Acknowledge                    143.75            143.75
    by Company (refer note.1)

(d) Claim not Acknowledge                  1,574.64                 -
    by Company - Custom Duty &
    Penalty
   (refer note.2)
Note:

1) No Provison has been made in books of Account as company is of the opinion that there will not be any Liability. As company is confident of winning both the cases inclusive of Rs. 128.50 of Bright Care Diagnostic Centre and Rs. 15.25 of Dr.Jai Thakur.

2) The Company has received demand order from the Commissioner of Customs of custom duty aggregating Rs. 787.32 lacs & penalty of Rs. 787.32 lacs for the year 2011-12, 2012-13 & 2013-14. The company is in process to file an appeal against the said order.

The company is advised that the said demand is legally unsustainable and hence the company does not expect any liability in the matter.

Note 2. Segment information

The Company is engaged only in one business segment viz. the business of manufacturing and dealing in Photosensitised materials and other products for Healthcare industry. Hence the the Segment wise information as required by AS 17 is not applicable.

Note 3.

A) Consequent upon Amendment to Section 205A of the Companies Act 1956 and introduction of Section 205C by the Companies ( Amendment Act)1999,the amount of dividend remaining unclaimed for a period of seven years from the date of transfer to Unpaid dividend account in respective years in respect of Accounting year 2007-08,2008-09, 2009- 10, 2010-11,2011-12 & 2012-13. subsequent dividend payment, shall be transferred to the Investors Education and Protection Fund account.

B) Related Parties & Relatinship

a) Company and firm in which Directors and their relatives are Directors or Partner

Choksi Brothers Pvt.Ltd.(CBPL),Medical Solution(India)Pvt.Ltd.,Unique Imaging,S.S.Digitech Impex Pvt.Ltd., Photo Marketing Services & Hitech Imaging Pvt.Ltd.

b) Directors of the company

Anil Choksi,Samir Choksi,Naimish Choksi,Gaurav Choksi"

c) Key Management personnel Tushar K.Choksi ,Sunil A.Choksi"

Note 4. As Schedule for previous year figure

The figures of the previous year have been regrouped / rearanged wherever necessary. The Figure or the Previous years are given in brackets.

The company has complied the above accounts based on the revised/Modified Schedule III applicable for the accounting period 2014-2015.

The disclosure requirements are made in the notes to accounts or by way of additional statements. The other disclosure as required by the Companies Act are made in the notes to accounts.