| 1 Corporate information
Amar Remedies Limited is a Public Company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. Its
shares are listed on two(2) stock exchanges in India. The Company was
incorporated on April 18, 1984 and is engaged in the business of
Manufacuring and Trading of Ayurvedic Products and FMCG.
The Company has only one class of shares referred to as Equity Shares
having a par value of Rs. 10 each. Each holder of Equity Share is
entitled to one vote per share held.The dividend 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.
The Board of Directors, in their meeting on 28th November 2012 have not
recommended any dividend for the year 2011- 12.
During the year ended 30th June, 2011, the amount of per Share dividend
recognised as distributions to Equity Sharehold- ers was Rs. 2616.41
towards final dividend. The total dividend appropriation for the year
ended 30 June, 2011 amounted to Rs. 2616.41 lakhs including dividend
distribution tax of Rs. 42.44 lakhs.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive 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.
Details of Terms Loan Nature of Security
Term Loan aggregating to Rs. 391491996/- are secured by way of first
charge on moveable & immoveable assets of the present and future of the
company.
Rate of Interest
Rate of Interest on above term loan varies from 14% to 15%
Repayment Terms
The above Term loan will be repayable in structure monthly installment
within five years from the date of disbursement. Details of Vehicle
Loan Nature of Security
Term Loan aggregating to Rs.. 4508637.02/- are secured by way of first
charge on Vehicle assets of the present and future of the company.
Rate of Interest
Rate of Interest on above Vehicle loan varies from 14% to 15%
Repayment Terms
The above Vehicle Loan will be repayable in structure monthly
installment within five years from the date of disbursement.
Details of Cash Credit Nature of Security
Cash Credit facilities are Secured by mortgage of fixed assets of the
Company and hypothecation of inventories and Book Debts of the company,
both present and future, along with mortgage flat of promoters.
Rate of Interest
Rate of Interest on above varies from 13.50% to 14.50%
Note Particulars As at 30th
June, 2012 As at 30th
June, 2011
Amount Rs. Amount Rs.
2.1 Contingent liabilities and
commitments (to the extent not
provided for)
(i) Contingent liabilities
(a) Guarantees 15,580,000.00 15,000,000.00
2.2 Disclosures required under Section 22 of the Micro, Small and
Medium Enterprises Development Act, 2006
In the absence of information as regards to the status/classification
of the relavant enterprises into Micro, Small and Medium Enterprises,
information as required under Notification No. G.S.R. 719(E) dated
16.11.2007 issued by the Department of the Company Affairs in respect
of the total amount payable and amount of interest thereon paid during
the year and payable at the end of the year to the Sundry Creditors
could not be disclosed.
2.3 Disclosure as per Clause 32 of the Listing Agreements with the
Stock Exchanges Loans and advances in the nature of loans given to
subsidiaries, associates and others and investment in shares of the
Company by such parties:
2.4 The Revised Schedule VI has become effective from 1st April, 2011
for the preparation of financial statements This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year's figures have been regrouped / reclassified
wherever necessary to correspond with the current year's classification
/ disclosure.
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