(n) Provisions and Contingent Liabilities:
(i) Provision is recognized (for liabilities that can be measured by using a substantial degree of estimation)
when:
a) The company has a present obligation as a result of a past event;
b) A probable outflow of resources embodying economic benefits is expected to settle the obligation; and
c) The amount of the obligation can be reliably estimated.
(ii) Contingent liability is disclosed in case there is:
a) (i) Possible obligation that arises from past events and existence of which will be confirmed only by the
occurrence of non-occurrence of one or more uncertain future events not wholly within the control of the
enterprise; or
(ii) A reliable estimate of the amount of the obligation cannot be made.
b) A present obligation arising from past events but is not recognised:
(i) When it is not probable that an outflow of resources embodying economic benefits will be required to settle
the obligation; or
(ii) A reliable estimate of the amount of the obligation cannot be made.
In the Annual General Meeting held on 27th September 2024, the members of the Company has approved the increase in
the authorised share capital from 2,00,00,000 equity shares of ' 10 each aggregating to ' 2000 lakhs to 5,00,00,000 equity
shares of ' 10 each aggregating to ' 5000 lakhs.. The necessary filing of the documents with the registrar of the company is
pending as on the date of signing of the Financial
b. Terms/rights attached to equity shares
The Company has one class of equity shares having a par value of Re 10/- each. Each shareholder is eligible for
one vote per share held. The dividend when proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation,
the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential
amounts, in proportion to their shareholding.
c. Shares held by ultimate holding company and its subsidiaries - NIL.
d. No shares have been alloted for consideration other than cash or bonus shares nor the company has bought back any
shares during a period of five years immediately preceeding the date of the balancesheet.
a. Term loan from Bank (Secured) includes:
(i) ' Nil (P.Y. ' 53.10 lakh ) Working capital term loan under UGECL from Union Bank carries interest rate of 7.5%. The
said term loan is to be repaid in 36 Equated monthly instalments of ' 7.78 lakhs after a moratorium period of 12 month
.WCTL facility granted under UGECL will rank second charge with the existing credit facilities and securities
(ii) ' 410.86 lakh (P.Y. ' 437.27 lakh ) term loan from Union Bank carries interest rate in the range of 11.55% to 14.05%.
The term loan is to be repaid in 92 Equated monthly instalments of ' 7.31 lakhs
For security please refer the security details of security as specified in Note 8
Note:
Overdraft facilities from bank represents the following:
From Union Bank of India amounting to ' 693.57 lakh ( PY ' 736.55 lakh ) carries interest rate of 14% to 15.15% The
Overdraft facility is secured by Hypothecation of medical equipments and other movable assets purchased out of bank
finance and collateral security as Equitable mortgage of Properties such as land situated at village Boling, Taluka Vasai,
Dist - thane ownedby Dr Nitin Thorve and Shop no 1 to 13 , ground floor, plot no 17, survey no 17A/1/A, Navghar,Diwanman,
Vasai West 401202 owned by the company
Note 33 : Current Assets And Loans And Advances
In the opinion of the Board the Current Assets and Loans and Advances are realisable in the ordinary course of business at
least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate
and not in excess of the amount reasonably necessary
Note 34
No funds have been advanced/loaned/invested (from borrowed funds or from share premium or from any other sources
/ kind of funds) by the Company to any other person(s) or entity(ies), including foreign entities (Intermediaries), with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or (ii)
provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (Funding Parties),
with the understanding (whether recorded in writing or otherwise) that the COmpany shall (i) directly or indirectly, lend
or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
Note 39 : Contingent Liability
Liability in respect of TDS returns as per the income tax portal is ' 0.77 lakhs. The company is in the process of rectifying the
liability as showin in the income tax portal.
NOTE 40 : Additional disclosure with respect to amendments to Schedule III
1. The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property
2. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
3. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year
4. The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries)
or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
5. The Company has not received any fund from any person(s) or entity (ies) including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend
or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
6. The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or
survey or any other relevant provisions of the Income Tax Act, 1961).
7. The Company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies
Act, 2013) or consortium thereof or other lender in accordance with the guidelines on wilful defaulters issued by the
Reserve Bank of India.
8. The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the
year.
9 The Company has used the borrowings from the banks for its intended purpose during the financial year.
NOTE 41 : Prior year comparatives
Previous year’s figures have been regrouped or reclassified, to conform to the current year’s presentation wherever
considered necessary.
In terms of our report of even date
For and on behalf of the Board of Directors
For R K Chapawat & Co. Nidan Laboratories And Healthcare Limited
Chartered Accountants
F. R. N. : 101708W
Tejal Jaykar Edwin Dabre
Kamlesh Chapawat Director & CFO Director
Partner DIN: 07984686 DIN: 7705632
M. No. : 181441
Varsha Maniar Dr Nitin Thorave
Company Secretary CEO
Place : Mumbai Place : Mumbai Place : Mumbai
Date : 28-05-2025 Date : 28-05-2025 Date : 28-05-2025
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