ABHAY DRUGS LIMITED · ABHAY DRUGS LIMITED Regd. Office.: 340, Laxmi Plaza, Laxmi Industrial...

ABHAY DRUGS LIMITED Regd. Office.: 340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (West),

Mumbai- 400 053

BOARDS’ REPORT

To The Members of Abhay Drugs Limited

The Directors of your Company are pleased to present the 9th Annual Report together with the audited financial statement of the company for the financial year ended 31st March, 2015. FINANCIAL RESULTS AND THE STATE OF COMPANYS’ AFFAIRS During the year under review the Company did not carry out any operating activities. DIVIDEND

The Board of Directors express their inability to recommend any Dividend for the Financial year under review. DIRECTORS AND KEY MANAGERIAL PERSONNEL Shri Manohar Lal Gupta (DIN:00040784), Director of the company is liable to retire by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment. CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES As the company has not commenced its business operations, there were no contracts with the related parties during the year under review. AUDITORS AND AUDITORS’ REPORT M/s. T.N. Unni & Co., Chartered Accountants, Statutory Auditors of the Company bearing Firm Registration No. 004890C, retiring at the ensuing Annual General Meeting of the Company and proposed to be re-appointed as the statutory auditor of the Company from the conclusion of the ensuing Annual General Meeting till the conclusion of the next Annual General Meeting of the Company. As required under section 139 of the Companies Act, 2013, the Company has obtained a written consent from M/s. T.N. Unni & Co., Chartered Accountants, to such re-appointment and also a certificate to the effect that their re-appointment, if made, would be in accordance with the provisions of section 139(1) and section 141 of the Companies Act, 2013 and rules made thereunder, as may be applicable. The report of the Statutory Auditors does not contain any qualification, reservation or adverse remark or disclaimer and the same is self explanatory and do not call for any further comments from the Board.


Mumbai- 400 053

RISK MANAGEMENT As the company has not commenced its business operations, there is no requirement of Risk Management in the company during the year under review. FIXED DEPOSIT The company has not accepted deposits during the year under review neither covered under Chapter V of the Companies Act, 2013 nor otherwise. No amount has remained unpaid or unclaimed as at the end of the year, therefore, there is no default in repayment of deposits or payment of interest thereon during the year under review. PARTICULARS OF EMPLOYEES During the year under review, none of the employees of the Company was in receipt of remuneration for the year which, in the aggregate, was not less than sixty lakh rupees. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS & OUTGO Particulars pertaining to the Conservation of Energy, Technology Absorption and Foreign Exchange Earnings & Outgo as prescribed under section 134 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, are not applicable to the company. DIRECTORS’ RESPONSIBILITY STATEMENT Pursuant to the provisions of section 134 of the Companies Act, 2013, with respect to the Directors’ Responsibility Statement, it is hereby confirmed that:

(i) in the preparation of annual accounts for the year ended 31st March, 2015, the applicable Accounting Standards have been followed along with proper explanation relating to material departures;

(ii) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company as at the end of the financial year ended on 31st March, 2015 and of the profit and loss of the Company for the financial year ended 31st March, 2015;

(iii) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) the Directors have prepared the annual accounts for the financial year ended 31st March, 2015 on a going concern basis;

(v) the Directors has laid down internal financial controls to be followed by the company and that such internal controls are adequate and were operating effectively;

(vi) the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.


Mumbai- 400 053

DISCLOSURES

i. There is no change in the nature of business of the company during the year under review.

ii. During the year under review, the company was not required to constitute the Nomination and Remuneration Committee.

iii. The Board has established Vigil Mechanism for directors and employees of the company.

iv. During the year under review, there are no material changes and commitments affecting the financial position of the company which have occurred between the end of the financial year to which the financial statements relate and the date of report.

v. There has been no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company’s operations in future.

vi. The internal financial controls with reference to the financial statement of the company are adequate and commensurate to the size of the company.

vii. The extract of Annual Return of the company is annexed herewith as Annexure-I to this report.

viii. The Board of Directors met five (5) times during the financial year 2014-2015. The maximum time gap between two (2) consecutive meetings did not exceed one hundred and twenty days.

ix. During the year under review, the Company has neither given any guarantee or provided any security in connection with a loan to any other body corporate or person nor invested any fund in the securities of any other body corporate or extended loan to any company.

x. During the year under review, the company had no profits and therefore the company does not propose to carry any amount to its reserves.

xi. The provisions of section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 related to Corporate Social Responsibility is not applicable as the company does not meet the criteria specified therein.

xii. The Company has neither the Managing Director nor the Whole-Time Directors on the Board of the company who are in receipt of any commission from the company. However, Mr. Manohar Lal Gupta (DIN: 00040784), Mr. Vinod Kumar Gupta (00039145) and Mr. Govind Das Garg (00520067), Non-executive Directors of the company receives remuneration from Parenteral Drugs (India) Limited, Holding company.

xiii. During the year under review, the company was not required to appoint any Independent Director so there was no requirement of disclosure under the provisions of section 149 of the Companies Act, 2013.

xiv. As reported by the statutory auditor of the company, there are no such frauds other than those which are reportable to Central Government under section 143(12) of the Companies Act, 2013.

xv. The company is not required to give any disclosure under the provisions of sub-section (3) of section 67 of the Companies Act, 2013.

xvi. No cases of sexual harassment were reported in the last financial year. xvii. The company has neither any subsidiary company nor JV or Associate companies

and hence neither any company has become or ceased to be subsidiary, Joint Venture or Associate company of the company during the year under review and thus, no reporting is required on their performance. However, the company is a wholly owned subsidiary of Parenteral Drugs (India) Limited, Holding company.


Mumbai- 400 053

ACKNOWLEDGEMENTS The Directors would like to express their appreciation for the assistance and co-operation received from Bankers, Government authorities, customers, and vendors during the year. Your Directors also wish to place on record their deep sense of appreciation for the committed services of Executives, Staff and workers of the Company.

FOR AND ON BEHALF OF THE BOARD

Place: Indore Vinod Kumar Gupta Govind Das Garg Date: 03.08.2015 Director Director

(DIN: 00039145) (DIN: 00520067)

ANNEXURE-I- EXTRACT OF ANNUAL RETURN

FORM NO. MGT-9

EXTRACT OF ANNUAL RETURN

As on financial year ended on 31.03.2015

[Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules, 2014]

I. REGISTRATION & OTHER DETAILS:

i. CIN U24239MH2006PLC166418

ii. Registration Date 21/12/2006 iii. Name of the Company ABHAY DRUGS LIMITED iv. Category/Sub-category of

the Company Company Limited by shares/Indian Non-Government Company

v. Address of the Registered office & contact details

340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai, Maharashtra- 400 053 Ph. No. 022-61725900-1 Fax No. 022-26333763 Email Id : [email protected]

vi. Whether listed company No vii. Name, Address & contact

details of the Registrar & Transfer Agent, if any.

Not Applicable

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (All the business activities contributing 10 % or

more of the total turnover of the company shall be stated) S. No. Name and Description of main

products / services NIC Code of the Product/service

% to total turnover of the company

1 Trading of Pharmaceutical 6870 The Company has no trading activities during the year.

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -

S. NO. NAME AND ADDRESS OF THE COMPANY

CIN/GLN HOLDING/ SUBSIDIARY

/ ASSOCIATE

% OF SHARES

HELD

APPLICABLE SECTION

1 Parenteral Drugs (India) Limited 340, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W) , Mumbai- 400 053

L99999MH1983PLC126481 Holding 100 2(87) (i) & (ii)

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity) i) Category-wise Share Holding

Category of Shareholders

No. of Shares held at the beginning of the year

No. of Shares held at the end of the year % Change during the year Demat Physical Total % of

Total Shares

Demat Physical Total % of Total Shares

A. Promoters

(1) Indian

a)

Individual/

HUF

0 *60 *60 0.12 0 *60 *60 0.12 0

b) Central

Govt

0 0 0 0 0 0 0 0 0

c) State

Govt(s)

0 0 0 0 0 0 0 0 0

d) Bodies

Corp.

0 49940 49940 99.88 0 49940 49940 99.88 0

e) Banks /

FI

0 0 0 0 0 0 0 0 0

f) Any

other....

0 0 0 0 0 0 0 0 0

Sub total

(A)(1):-

0 50000 50000 100.00 0 50000 50000 100.00 0

(2)

Foreign

(a)NRIs-

Individuals

0 0 0 0 0 0 0 0 0

(b) Other-

Individuals

0 0 0 0 0 0 0 0 0

c) Bodies

Corp.

0 0 0 0 0 0 0 0 -0

d) Banks/

FI

0 0 0 0 0 0 0 0 0

e) Any

other.....

0 0 0 0 0 0 0 0 0

Sub-total

(A) (2):-

0 0 0 0 0 0 0 0 0

Total

Shareholdi

ng of

Promoters

(A) =

(A)(1)+

(A) (2)

0 50000 50000 100.00 0 50000 50000 100.00 0

B. Public

Shareholdi

ng

1. Institutions

a) Mutual

Funds

0 0 0 0 0 0 0 0 0

b) Banks /

FI

0 0 0 0 0 0 0 0 0

c) Central

Govt

0 0 0 0 0 0 0 0 0

d) State

Govt(s)

0 0 0 0 0 0 0 0 0

e) Venture

Capital

Funds

0 0 0 0 0 0 0 0 0

f)

Insurance

Companies

0 0 0 0 0 0 0 0 0

g) FIIs 0 0 0 0 0 0 0 0 0

h) Foreign

Venture

Capital

Funds

0 0 0 0 0 0 0 0 0

i) Others

(specify)

0 0 0 0 0 0 0 0 0

Sub-total

(B)(1):-

0 0 0 0 0 0 0 0 0

2. Non-Institutions

a) Bodies Corp.

i) Indian 0 0 0 0 0 0 0 0 0 ii) Overseas 0 0 0 0 0 0 0 0 0 b) Individuals

i) Individual shareholders holding nominal share capital upto Rs. 1 lakh

0 0 0 0 0 0 0 0 0

ii) Individual shareholders holding nominal share capital in excess of Rs. 1 lakh

0 0 0 0 0 0 0 0 0

c) Others (specify) (i) Non Resident Indians (Repat)

0 0 0 0 0 0 0 0 0

(ii) Non Resident Indians (Non Repat)

0 0 0 0 0 0 0 0 0

(iii) Clearing Member

0 0 0 0 0 0 0 0 0

(iv) Directors / Relatives

0 0 0 0 0 0 0 0 0

(v) Trusts 0 0 0 0 0 0 0 0 0

Sub- total (B) (2) :-

0 0 0 0 0 0 0 0 0

Total Public Shareholding (B)= (B) (1) + (B)

0 0 0 0 0 0 0 0 0

(2)

C. Shares held by Custodian for GDRs & ADRs

0 0 0 0 0 0 0 0 0

Grand Total (A+B+C)

0 50,000 50,000 100.00 0 50,000 50,000 100.00 0

*Held by nominee shareholders of Parenteral Drugs (India) Limited.

ii) Shareholding of Promoters

*Held by nominee shareholders on behalf of Parenteral Drugs (India) Limited, Holding Company.

iii) Change in Promoters’ Shareholding (please specify, if there is no change) Sl . No.

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of shares % of total shares of the company

No. of shares % of total shares of the company

1 At the beginning of the year

Sl No.

Shareholder’s Name


Shareholding at the end of the year

% change in shareholding during the year

No. of Shares

% of total Shares of

the company

%of Shares

Pledged / encumbered to total

shares

No. of Shares

% of total

Shares of the

company

%of Shares

Pledged / encumbered to total

shares 1 Parenteral

Drugs (India) Limited

49940 99.88 0 49940 99.88 0 0

2. *Shri Manohar Lal Gupta

10 0.02 0 10 0.02 0 0

3. *Shri Vinod Kumar Gupta

10 0.02 0 10 0.02 0 0

4 *Shri Abhay Gupta

10 0.02 0 10 0.02 0 0

5 *Shri Aditya Gupta

10 0.02 0 10 0.02 0 0

6 *Smt. Aruna Gupta

10 0.02 0 10 0.02 0 0

7 *Smt. Alpana Gupta

10 0.02 0 10 0.02 0 0

Total 50000 100.00 0 50000 100.00 0 0

Date wise Increase / Decrease in Promoters Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc):

There is no change in Promoters’ Shareholding between 01.04.2014 to 31.03.2015

At the end of the year

iv) Shareholding Pattern of top ten Shareholders (Other than Directors, Promoters and

Holders of GDRs and ADRs):

Sl. No.


Date Increase/ Decrease in Shareholding

Reason Cumulative Shareholding during the year

For Each of the Top 10 Shareholders

No. of shares

% of total shares of the company

No. of shares


1.

Not Applicable, as the company is having no shareholder in this category.

V) Shareholding of Directors and Key Managerial Personnel:

Sl. No.

For each of the Directors and KMP


Date Increase/ Decrease in Shareholding

Reason At the end of the year

No. Of shares


No. Of shares


1. Mr. Manohar Lal Gupta

*10 0.02 - - - *10 0.02

2. Mr. Vinod Kumar Gupta

*10 0.02 - - - *10 0.02

3. Mr. Govind Das Garg

NIL NIL - - - NIL NIL

*Held by nominee shareholders on behalf of Parenteral Drugs (India) Limited, Holding Company.

V. INDEBTEDNESS -Indebtedness of the Company including interest outstanding/accrued but not due for payment.

(Amount in Rs.)

Secured Loans excluding

deposits Unsecured Loans Deposits

Total Indebtedness

Indebtedness at the beginning of the financial year

i) Principal Amount 0 35000 0 35000 ii) Interest due but not paid 0 0 0 0 iii) Interest accrued but not due

0 0

0

0

Total (i+ii+iii) 0 35000 0 35000 Change in Indebtedness during the financial year

* Addition 0 22500 0 22500

* Reduction 0 0 0 0

Net Change 0 22500 0 22500 Indebtedness at the end of the financial year

i) Principal Amount 0 57500 0 57500 ii) Interest due but not paid 0 0 0 0 iii) Interest accrued but not due

0 0

0

0

Total (i+ii+iii) 0 57500 0 57500 VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-

A. Remuneration to Managing Director, Whole-Time Directors and/or Manager:

SN. Particulars of Remuneration Name of MD/WTD/ Manager Total Amount 1 Gross salary The Company has only Non-Executive Directors on its Board and

there are no Managing Director, Whole-Time Director and /or Manager appointed by the Company.

(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 (c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961

2 Stock Option 3 Sweat Equity 4 Commission

- as % of profit - others, specify

5 Others, please specify (i) Bonus

Total (A) Ceiling as per the Act

Not Applicable

B. Remuneration to other directors:

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD: SN Particulars of

Remuneration Key Managerial Personnel

CEO CS CFO Total 1 Gross salary

(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961

- - - -

(b) Value of perquisites u/s 17(2) Income-tax Act, 1961

- - - -

(c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961

- - - -

2 Stock Option - - - -

3 Sweat Equity - - - -

4 Commission -as % of profit -others, specify…

- - - -

5 Others, please specify - - - - Total - - - -

SN. Particulars of Remuneration

Name of Directors Total Amount

1 Independent Directors There was no Independent Director on the Board of the Company till 31st March, 2015. Also, The company has neither paid any fees for attending board or committee meetings nor any commission to the Non-Executive Directors of the Company during the financial year 01.04.2014 to 31.03.2015.

Fee for attending board committee meetings

Commission Others, please specify Total (1)

2 Other Non-Executive Directors Fee for attending board committee meetings Commission Others, please specify

Total (2) Total (B)=(1+2)

Total Managerial Remuneration

Overall Ceiling as per the Act

Not Applicable

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Type Section of the

Companies Act

Brief Description

Details of Penalty / Punishment/ Compounding fees imposed

Authority [RD / NCLT/ COURT]

Appeal made, if any (give Details)

A. COMPANY

Penalty - - - - -

Punishment - - - - -

Compounding - - - - -

B. DIRECTORS

Penalty - - - - -



C. OTHER OFFICERS IN DEFAULT

Penalty - - - - -



T.N. UNNl & Co. CHARTEREDACCOUNTANTS

402, Alankar Point 4-A, Rajgarh Kothi

Geetha Bhawan Square, A.B. Road, INDORE - 452 001

INDEPENDENT AUDITORS REPORT

TO THE MEMBERS OF ABHAY DRUGS LIMITED

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying financial statements of Abhay Drugs Limited ("'the Company"), which comprise the Balance Sheet as at March 31, 2015, the Profit and Loss Statement, the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (''the Act'') with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

AUDITORS' RESPONSIBILITY

Our responsibility is to express ar opinion on these financial statements based on our audit. We have taken into account the prov'sions of the Act, the accounting and auditing standards and matters which are required to be irqcluded in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordarce with the Standards on Auditing specified under Section 143(10) of the Ad. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasorlable assurance about whether the financial statements are free from material misstatements.

T.N. UNNl & Co. CHARTERED ACCOUNTANTS



An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company's directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

OPINION

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31,201 5, and its loss and its cash flows for the year ended on that date.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the Companies (Auditor's Report) Order, 201 5 ("the Order") issued by the Government of India in terms of the Sub Section (1 1) of Section 143 of the Act we give the Annexure a statement on the matters specified in paras 3 and 4 of the Order, to the extent and as applicable.

2. As required by Section 143(3) of the Act, we report that;

a) We have sought and obtained all the information and explanations which to the best of or knowledge and belief were necessary for the purposes of our audit;

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books;

c) The Balance Sheet, the Profit and Loss Statement, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account;




d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

e) On the basis of the written representations received from the directors as on March 31, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on March 31,2015, from being appointed as a director in terms of Section 164 (2) of the Act; and

f) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements as referred to in Note 23 to the financial statements;

ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, and as required on long-term contracts including derivative contracts; and

iii. The point regarding delay in transferring any amounts to the Investor Education and Protection Fund is not applicable to the Company.

For T.N. Unni & Co Chartered Accountants

Firm Regn. No. 004890C

Place : lndore Date : 29Ih May 201 5

' 4 ,: . . i

. e T.N. Unni 1..

9 2 (Partner) M.M.No. 014520


402. Alankar Point 4-A, Rajgarh Kothi


Annexure to the Independent Auditor's Report

The Annexure referred to in our independent Auditor's Report to the members of the Company on the Statements for the year ended March 31, 201 5, we report that :

(i) The Company does not have any fixed assets.

(ii) The Company has no trading activities during the year.

(iii) The Company has not granted loans to corporate covered in the register maintained under section 189 of the Companies Ad, 2013 ("the Act")

(iv) In our opinion and according to the information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of fixed assets and sale of services. The activities of the Company do not involve purchase of inventory and the sale of goods. We have not observed any major weakness in the internal control system during the course of the audit.

(v) The Company has not accepted any deposits from the public.

(vi) Maintenance and cost audit of cost records has not been prescribed for the products of the company by the Central Government, under Section 148 (1) of the Companies Act. 2013

(vii) According to the information and explanation given to us and on the basis of our examination of the records of the Company, amounts deductedlaccrued in the books of account in respect of undisputed statutory dues including provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues have been regularly deposited during the year by the Company with the appropriate authorities.

According to the information and explanation given to us, no undisputed amounts payable in respect of provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues were in arrears as at 31 March 2015 for a period of more than six months from the date of they became payable.

I!:; : /+~ ; : 7. -. ,'. -> . ' 1

I,i \?,.:. i . .. '- ' -J ,cL. . I /: 1.. / &. ,77,3// . -.<- -,/

T.N. UNNl & Co. CHARTEREDACCOUNTANTS

(viii) The Company has incurred any cash losses preceding flnanclal year.

402. Alankar Point 4-A, Rajgarh Kothi


neither has accumulated losses as at March 31, 2015 nor has during the financial year cndcd an that date or in the immediately

(ix) On the basis of information and explanation given by the Management in bur opinion that the Company has not availed any borrowing from banks.

(x) The Company has not given any Guarantee f8r loans taken by others from banks or financial institutions.

(xi) The Company has not availed any fresh term loan during the current financial year 201 4-1 5.

(xii) According to the information and explanations given to us and the examination of the records we have neither come across any instance of fraud on or by the Company, noti~ed or reported during the year, nor have we been informed of any such case by the Mclnagamcnt.

For T.N. Unnl & Co Chartered Accountants

F~rm Regn. No. 004890C

Place ; lndore Date : 2Qt"May 201 5

.:. d ., 1 T.N. Unni

. . - ..; (Partner) ;' M.M.No. 014520

Membership No, : 014520

ABHAY DRUGS LIMITED Mumbai

BALANCE SHEET AS AT 31ST MARCH, 2015

DIN 99033145 lndore 'IN 005200671

L G '

Particulars

I. EQUITY AND LIABILITIES 11) Shareholder's Funds 3tlare C ~ D I L J I

(ZLNo-n-Current I iabilitiet L o n ~ Tcrm Dorrowingi

(3) Current Liabilities ~ r a a e ~ayaa le s

Total Equity & Liabilities

II.ASSETS

J1) ~6n-Current Assets ( n ) Long lclrrn loans and ddvdnces (b) Other non-current assets

12) Current Assets

C a ~ h and cach oquivalantc

T ~ t a l Assers -

51rnltlcent Accountine Policies & N o t ~ c on ~ l n a n c l a l Sra~ornent

- -- - Dated ; 29th May fbl5 I

Rafarrad to In our Rcport O f OvIn data FOR T. N. UNNl & CO. FOR ABHAY DRUGS LIMITED CHARTERED ACCOUNTANTS ,-. - - . , I# ,

Firm Regn No. 004890C ,/, ,L .'\

- - +/ L

I d/&'/ / 7 . -+ T, Nm Vnni %I\ , , V.K. ~ u p t g

, / .. m (Partner)

\'.,-# " " . .- Dlroctor ulreet4r

Note No.

2

3

4

5 6

7

1 to 13

As art 31st March

2015

5uu,ooo

57,500

5,872

563,372

400,000 68,681

94,G91

563,372

(Amount in INR)

As at 31st March 2016

saa,aao

35,000

3,372

538,372

400.000 51,546

86,820

538,372

ABHAY DRUGS LIMITED Cash Flow Statement for the year ended on 31st March 2015

A - CASH FLOW FROM OPERATING ACTIVITIES :

Net profit before tax and extra-ordinary items

adjustment for : 1. Depreciation 2. InterestfDividend

3. Miscellaneous expenditure

Operating profit before working capital change

adjustment for :

1. Trade and other receivable 2. Inventories Trade and other Payable

Cash Generated from Operation

1. Interest Paid 2. Taxes Paid

Cash Flow Before Extraordinary items

Extra ordinary Items

Net cash from operating activities ..... A

B - CASH FLOW FROM INVESTING ACTIVITIES :

Misc. Exp./Pre-Operative Exp. Purchase of investments Sale of investments

Net Cash used in investing activities .... B

C - CASH FLOW FROM FINANCING ACTIVITIES :

Proceeds from share application money Proceeds from long term borrowings Repayment of long term borrowings Payment of Dividend Reserve

Net Cash from Financing Activities .... C

Net increasefdecrease in Cash & Cash equivalents (A+B+C)

Opening Cash and Cash equivalents Balances

Closing Cash and Cash equivalents Balances

FOR T. N. UNNl & CO. -\ CHAR-rmm AccouNTAN,/' 7. .;:,, Flrm Regn No. 004890~ (

B I ., '1:-\ I ,

) -',"I /.;?' ,!@- > -./!

";.a, i ., ' , I -;/ \ -,-, t.; .. , -; - . . / .

vJ. -, - 4 ) -7; . . V.K. Gupta 1 7

T. N. Unnl \;- . , . ; -. ,.,. G. D. Garg

(Partner) <~-- .;-- Director Director Membership No, ; 014520 DIN 00039145 DIN 00520067

lndore Dated : 29th May 2015

2500

2014-15

2,500

2,500

2,500

2,500

-17135

-17,135

22,500

22,500

7,865

86,826

94,691

FORABHAY DRUGS

2013-14

-5,081

-5,081

10,000

10,000

4,919

81,907

86,826

LIMITED


Notes Forming Integral Part of the Balance Sheet as at 31St March, 2015

Note : 2 Share Ca~ital

Note : 1

i)

ii)

iii)

iv)

V)

vi)

Significant Accounting Policies

The Financial Statements are prepared at historical costs.

Recognition of Revenue and Expenditure The Company yet not started its activities so all expenses incurred are clubbed in Preliminary and pre-operative expenses.

The Financial statements have been prepared on the basis of generally accepted principles of accounting, applicable accounting standards of the Institute of the Chartered Accountant of India and provisions of Companies Act 2013.

Material events subsequent t o the Balance Sheet date up to the finalization of accounts have been taken into account t o determine the account of Income & expenses.

As there are no fixed assets, no provision for depreciation has been made.

Figures for the previous year have been re-grouped and re-arranged wherever considered necessary.

Sr. No

1 a

2 a

Particulars

Authorized Share Capital 50,000 (50,000) Equity Shares of Rs. 10 each

Issued, Subscribed & Paid Uv Capital (fullv paid) 50,000 (50,000) Equity Shares of Rs. 10 each

a

At the Beginning of the year Issued during the year Outstanding at the end of the year

In the event of liquidation of the Company, the holders of equity shares will be entitled t o receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.


500,000

Reconciliation of Shares outstanding at the beginning and at the end of the year

b i


500,000

E~ui tv Shares Nos.

50,000

50,000

Terms / Rights Attached to Shares Equity Shares The Company has only one class of equity shares having a par value of Rs. lo/-. Each holder of equity share is entitled to one vote per shares. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors i s subject t o the approval of the shareholders in the ensuing Annual General Meeting.

31.03.2015 1 31.03.2014 Nos.

50,000

50,000

' c

, .

31.03.2015 Nos.

50.000

Shares held by Holding Company (100% subsidiary)

Eauitv Shares

31.03.2014 Nos.

50.000

I

d

,

Name of Shareholders holding more than 5% shares of the Company

: Equity Sharez - Parenteral Drugs (India) Limited

31.03.2015 Nos.

50.000

31.03.2014 Nos.

50,000


Notes Forming Integral Part of the Balance Sheet as at 31St March, 2015 Note : 3 Long Term Borrowings

Note : 5 Long Term Loans and Advances

Sr. No

Note : 4

Long Term Loans and Advances (Unsecured, Considered Good) Other Advance (Recoverable in cash or in kind or value to be received)

Trade Poyables

Sr. No


35,000

Particulars

Unsecured Loans & Advances From Related Parties


57,500


3,372 3,372

Particulars

Micro, Small & Medium Enterpirses Others Total

Particulars

Note ; 6 Other Non Current Assets


5872 5,872

Sr. No

1

/

Disclosure as per Micro, Small and Medium Enterprises Development Act, 2006 On the basis of information available, there are no outstanding dues in excess of Rs, 1.00 lac each payable to 551 units for more than 30 days in so far as they could be identified as per Micro, Small and Medium Enterprises Development Act, 2006.



. - - - I

Particulars

Miscellenous Expenditure (To the extent not written off or adjusted)

T-otal


Particulars

Principal amount & interest due and remaining unpaid lnterest paid Payment made beyond the appointed day during the year Interest due and payable for the period of delay Interest accrued and remaining unpaid Amount of further interest remaining due and payable in succeeding years



68681

68,681


51,546

51,546


r Notes Forming Integral Part of the Balance Sheet as at 31St March, 2015 Note : 7 Cash & Cash Equivalent

Sr. No

1

2

LNote 8 l ~ h e r e is no Contingent Liabilities as at the end of the year.

[ ~ o t e 11 I NO Income Tax liability arises during the year.

Note 9

Note 10

In the opinion of the Board of Directors of the Company the Current Assets, Loan &Advances have a value on realisation in the ordinary course of business at least equal t o the amount at which they are stated and provision for all known liabilities are adequate and not in excess of the amount reasonably necessary.

l ~ o t e 13 INO Deferred Tax Liability or Assets arises during the year as per provisions of AS-23 "Accounting for Taxes on Incomes". I

As a t 31st March 2014

7,149 79,677

86,826

Particulars

Balance with Bank

Cash on Hand

Total

Auditors Remuneration

Note 12

Referred t o in our Report of even date FOR T. N. UNNl & CO. __, - - CHARTERED ACCOUNTANTS' \\ Firm Regn No. 004890C - -

7 ," . \


15014 79677

94,691

The Company does not have any liability towards gratuity and provident fund, as no employee was on roll during the year with the Company.

((partner) ...; -.-;-


1,686

1,686

Particulars

Audit Fees

Total

Membership No. : 014520


1686

1,686

FOR ABHAY DRUGS LIMITED I

V.K. Gupta G. D. barg Director Director DIN 00039145 DIN 00520067

lndore Dated : 29th Mav 2015

ABHAY DRUGS LIMITED · ABHAY DRUGS LIMITED Regd. Office.: 340, Laxmi Plaza, Laxmi Industrial...

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