PROVISIONS, CONTINGENT LIABILITIES AND ASSETS
Provisions are recognised when the Company has a present obligation as a result of past events and
it is more likely that an outflow of resources will be required to settle the obligation and the amount
has been reliably estimated. Provisions are not discounted to present value and are determined
based on best estimate of the expenditure required to settle the obligation at the balance sheet date.
These are reviewed at each balance sheet date and adjusted to reflect the current best estimate.
Contingent Liabilities are not disclosed by way of notes to the financial statements. Contingent
assets are neither recognised nor disclosed in the financial statements. As stated by Management,
there were following Contingent Liabilities.
• There were no any provision in books of accounts for identified income tax demand
Rs.1.73 crore as per income tax website.
L. EARNING PER SHARE (EPS):
Basic earnings per share are computed by dividing the profit/(loss) after tax by the total number of
equity shares outstanding during the year. Diluted earnings per share is computed by dividing the
profit/(loss) after tax by the total number of equity shares considered for deriving basic earnings
per share.
2. RELATED PARTY DISCLOSURES:
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 contacts containing the transactions in which Directors are interested in place
before the board regularly for it approval.
4. 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.
5. 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.
6. 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.
7. Auditor’s remuneration:
During the year under consideration provision has made for Auditor’s remuneration.
31 March 2023 31 March 2022
Statutory Audit Fees (in Rupees) 29,500 29,500
8. Director’s remuneration:
During the year under consideration provision has made for Director’s remuneration.
For which no resolution is passed in the AGM for same or has not obtained any information.
31 March 2023 31 March 2022
Remuneration (in Rupees) 0.00 0.00
9. As certified by company that it has received written representation from all the directors. That companies is
which they are directors had not defaulted in terms of section 164(2) of the Companies Act, 2013, and that
representations of directors takes in Board that Director is disqualified from being appointed as director of the
company.
10. The property plant and equipment register not produce before us.
11. 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.
12. Expenditure in foreign currency is Rs. NIL/- in respect of Foreign Travelling.
13. Export Sales in foreign currency is NIL/- (In Indian Rupees). However, Other Income in foreign
currency is Rs. Nil.
14. There is No Any Amalgamation or Acquisition with Other Company / Firm / Entity by the company
during the financial year.
15. The company has not received any type of Government Grants or Subsidies.
16. The company has enter into any Lease Agreement.
17. No segment or part of company is discontinued or sold during the year.
18. The company has not entered into any Joint Venture.
19. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the
current year’s classifications/disclosure.
20. Particulars of licensed capacity or production capacity is Nil/- of the company.
21. 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.
22. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering the
prudence aspect.
23. Audit committee minutes not produced before us.
24. The turnover with GST is subject to verification of reconsilation.
25. All of the Debit, Credit, Balances including, Loans & advances lying in various party’s Customer’s
accounts are subject to their balance confirmation.
For, EARUM PHARMACEUTICALS LIMITED For, J.M. Patel & Bros.
Chartered Accountants
F.R.No.107707W
BHUMISHTH PATEL PAYAL B. PATEL (CAJ.M. Patel)
Managing Director Director & CFO M.COM. F.C.A.
DIN: 02516641 DIN: 05300011 M. No. 030161
UDIN: 23030161B GRRQ V8934
Place: Ahmedabad
Date: 29/05/2023
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