3. SEGMENT REPORTING:
The Company is primarily dealing in Pharmaceutical Business i.e. trading of pharma products and commission agent in pharma products etc. which in the context of Accounting Standard 17 on "Segment Reporting” constitutes a single reporting segment. Further, there are no geographical segments.
4. EMPLOYEE BENEFIT EXPENCES:
Provident Funds and Employees State Insurance Fund (Defined Contribution Schemes) are administered by Central Government of India and contribution to the said funds are charges to Profit and Loss Account or accrual basis if any.
Leave encashment (Defined Benefit Scheme) is provided annually based on management estimates in accordance with the policies of the company if any.
The Provision of Gratuity is Rs. Nil.
5. Any material gains/ losses which arise from the events or transaction which are Events Occurring after the Balance Sheet Date of the company are separately disclosed if any.
6. The Company has provided for VAT payable liabilities of Rs. Nil (P. Y. Nil), being the balance outstanding at the end of the year.
8. Related party disclosure as required by AS-18 issued by The ICAI-New Delhi
The Company has transaction of a material nature with the promoters, Directors of management, their subsidiaries or relatives that may have potential conflict with the interest of the company at large. The register of contracts containing the transactions in which Directors are interested were placed before the board regularly for it approval.
The Company confirms that all transaction including purchase and sales done with related party is at Arm’s Length Price and in normal course of business with all entities. The Company confirms that none of the transactions, if any, with the related parties was in material conflict with the interest of the Company.
11. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering the prudence aspect.
12. Liabilities for unexecuted contracts on capital account are NIL (P.y. Nil) as on 31.03.2024.
13. Details of dues to Micro and Small Enterprises as defined under the Micro,
Small and Medium Enterprises Development Act, 2006
The management has informed that the Company has not received any memorandum (as required to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise Development Act, 2006) claiming their status during the year as micro, small, or medium enterprises. Consequently, there are no amounts paid/ payable to such parties during the year
14. Particulars of licensed capacity or production capacity is Nil/- of the company.
15. The company is engaged primarily in Pharmaceutical Business i.e., trading of pharma products and commission agent in pharma products etc. As per AS-108 Operating Segment, none of the segment/products exceeds specified limits for the purpose of reporting as per AS-108 is not applicable.
16. Audit committee minutes were not produced before us.
17. The turnover/ITC credit with GST website is subject to verification of reconciliation.
20. Previous years’ figures have been regrouped or rearranged as required. There are transactions of unsecured loans in creditors account and loans/advances in debtors ledger accounts. The nature and purpose of payments and receipts are not identifiable in absence of data and information and hence closing net balances are shown/reflected as creditors and debtors. Also the creditors and debtors ledgers are adjusted by passing Journal enteries for which purpose, proof, confirmation and evidence are not available for verification and justification.
21. Balances of Sundry Debtors, Sundry Creditors, Deposits, Loans and Advances are subject to confirmation, reconciliation and necessary adjustments.
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