Notes to Accounts of Perk Pharmaceuticals Ltd.

Mar 31, 2010

1. Previous year figures have been regrouped, rearranged and/or recasted wherever it was found necessary so as to make them comparable with those of Current year.

2. The Directors have agreed to forego the meeting fee to which they were otherwise entitled to by virtue of Article 27 of Articles of Association of the company.

3. Traveling & Conveyance includes Rs.7,065.00(Previous year Rs.31,236.00) incurred by the Directors of the Company.

4. There is no employee referred to in sub sec 2a of Section 217 of the Companies Act,1956, employed for whole or part of the year.

5. In the opinion of the Board of Directors, Current Assets Loans & Advances, if realized in the ordinary course of business shall not be less than the values stated in the Balance Sheet and provision for all known Liabilities have been made.

6. Contingent Liabilities not provided for is Rs. Nil (Previous year - Rs. Nil).

7. Provision for Gratuity has not been made.

8. Interest includes Rs. Nil (Previous year Rs. Nil) paid to the Directors of the Company.

9. Sundry Debtors includes Rs NIL (Previous Year Rs. NIL) being the amount due to any concern in which the Directors of the company are interested.

10. There were no loans & advances due from the Directors of the company.

NOTES: 1. Production includes promotional samples.

2. Turnover quantity includes breakages, shortages, samples etc., whereas value is not Inclusive of the same.

3. Item wise break-up of value in respect of goods sold could not be readily ascertained.

NOTE : Installed capacity is certified by the management and being of technical nature the auditors have relied upon the same.

11. AH the Raw Materials consumed are indigenous.

12. The Company has no earning or expenditure during the year in Foreign Exchange.

13. Information required as per Schedule VI to the Companies Act 1956 has been given only to the extent applicable.

14. INSURANCE CLAIMS

Insurance claims are recorded based on related expenditure & are subject to adjustment on acceptance & settlement.

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Mar 31, 2009

1. Previous year figures have been regrouped, rearranged and/or recasted wherever it was found necessary so as to make them comparable with those of Current year.

2. The Directors have agreed to forego the meeting fee to which they were otherwise entitled to by virtue of Article 27 of Articles of Association of the company.

3. Traveling & Conveyance includes Rs.31,236.00(Previous year Rs.41,043.72) incurred by the Directors of the Company.

4. There is no employee referred to in sub sec 2a of Section 217 of the Companies Act,1956, employed for whole or part of the year.

5. In the opinion of the Board of Directors, Current Assets Loans & Advances, if realized in the ordinary course of business shall not be less than the values stated in the Balance Sheet and provision for all known Liabilities have been made.

6. Contingent Liabilities not provided for is Rs. Nil (Previous year - Rs. Nil).

7. Provision for Gratuity has not been made.

8. Interest includes Rs. Nil (Previous year Rs. Nil) paid to the Directors of the Company.

9. Sundry Debtors includes Rs NIL (Previous Year NIL) being the amount due to any concern in which the Directors of the company are interested.

10. There were no loans & advances due from the Directors of the company.

11. All the Raw Materia.s consumed are indigenous.

12. The Company has no earning or expenditure during the year in Foreign Exchange.

13. Information required as per Schedule VI to the Companies Ac, 1956, has been given

14. INSURANCE CLAIMS

Insurance claims are recorded Based on related expenditure & are subject to adjustment on acceptance & settlement