Notes to Accounts of Standard Medical & Pharmaceuticals Ltd.

Mar 31, 2014

1. Balances of Sundry Debtors, Sundry Creditors, Loans and Advances payable or receivable are subject to confirmations to be obtained from the parties.

2. Related Party Transactions:

As required by Accounting Standard - AS 18 "Related Party Disclosures" issued by the Institute of Chartered Accountants of India, details of transactions and list of related parties with whom transactions have taken place during the year are as follows:

During the year, the Company had entered into a Tripartite "Deed of Assignment of Debt" with M/s. Medinova Diagnostic Services Limited (MDSL) and M/s. Harvins Constructions Pvt. Ltd (HCPL) for assignment of Debt as on 31.01.2014. Accordingly, Debts payable to M/s. MDSL have been assigned to M/s. HCPL for an aggregate amount of Rs.12,35,38,622/- upon execution of the said Deed of Assignment of Debt, the Call Deposit, Advances and Accrued Interest payable to the related party M/s. MDSL stands settled as on 31.01.2014.

a) There are no Loans and Advances in the nature of Loans to Subsidiaries, Associates etc. as required to be disclosed under Clause 32 of listing agreement. The Company has an investment of Rs.275.02 lacs in 2750220 Equity Shares of Rs.10/- each in its Associate Company M/s Medinova Diagnostic Services Limited.

During the year, the Company had entered into a Share Purchase Agreement (SPA) with M/s. Vijaya Diagnostic Centre Pvt. Ltd (Acquirer) for sale of 27,50,220 equity shares held as investment in M/s. Medinova Diagnostic Services Limited. The Sale/Transfer of the said equity shares would be concluded in favour of the acquirer subject to fulfillment of the ''Open Offer'' requirements as mended under Regulation 3(1) and 4 of the SEBI (SAST) Regulations, 2011, by the Acquirer.

3. The company is engaged in the Business of Marketing/Trading of Hospital Products. There are no other reportable segments.

4. The company has no dues to Micro, Small and Medium Enterprises as at the Balance Sheet date.

5. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the Current year''s classification / disclosure.

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Mar 31, 2013

1. Balances of Sundry Debtors, Sundry Creditors, Loans and Advances payable or receivable are subject to confirmations to be obtained from the parties.

2. Related Party Transactions:

As required by Accounting Standard - AS 18 "Related Party Disclosures" issued by the Institute of Chartered Accountants of India, details of transactions and list of related parties with whom transactions have taken place during the year are as follows:

a) Company on which presumed significant influence exists.

Name of the Company Medinova Diagnostic Services Limited

Nature of Relationship Presumed significant influence

c) There are no Loans and Advances in the nature of Loans to Subsidiaries, Associates etc. as required to be disclosed under Clause 32 of listing agreement. The Company has an investment of Rs.275.02 lacs in 2750220 Equity Shares of Rs. 10/- each in its Associate Company M/s Medinova Diagnostic Services Limited.

3. The company is engaged in the Business of Marketing/Trading of Hospital Products. There are no other reportable segments.

4. The company has no dues to Micro, Small and Medium Enterprises during the year ended 31st March, 2013 and 31st March,20l2.

5. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the Current year''s classification / disclosure.

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Mar 31, 2012

1. LONG-TERM BORROWINGS

The above liability of 15% Non-convertible Debentures, being unpaid without proper and valid claims, is continuing under long term borrowings. The said Debentures, as per the terms of issue are secured by way of second charge over leased assets and assets under Hire Purchase Agreements and book debts pertaining to such Lease and Hire Purchase assets.

In respect of loans from companies there are no specific terms and conditions as to repayment of the above Loans and Advances except that the amounts are to be repaid in a phased manner depending upon the resources available to the Company from time to time.

# Includes dues to related parties - Refer to Note No. 19.

2. Balances of Sundry Debtors, Sundry Creditors, Loans and Advances payable or receivable are subject to confirmations to be obtained from the parties.

3. Extraordinary items : Nil (Previous year Rs. 15,84,000/- represents the interest expenditure pertaining to earlier years against a loan with a scheduled bank, which was settled under one time settlement).

4. Related Party Transactions:

a) There are no Loans and Advances in the nature of Loans to Subsidiaries, Associates etc. as required to be disclosed under Clause 32 of listing agreement. The Company has an investment of Rs. 275.02 lacs in 2750220 Equity Shares of Rs. 10/- each in its Associate Company M/s. Medinova Diagnostic Services Limited.

5. The company is engaged in the Business of Marketing/Trading of Hospital Products. There are no other reportable segments.

6. The company has no dues to Micro, Small and Medium Enterprises during the year ended 31st March, 2012 and 31st March, 2011.

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Mar 31, 2011

1. Contingent Liabilities not provided for:

Claims not acknowledged as debts : Rs. NIL . (Previous year Rs.1,02,52,607/-)

2. The Company has filed Suits for recovery of the dues in respect of certain cases which are in different stages and final outcome is awaited. However, appropriate provisions have been made for doubtfuldebts.

3. Balances of Sundry Debtors, Sundry Creditors, Loans and Advances payable or receivable are subject to confirmations to be obtained from the parties.

4. Prior period adjustment of Rs.15,84,000/- represents the interest expenditure pertaining to earlier years against a loan with a scheduled bank, which was settled during the year under one time settlement.

5. There were no dues to SSI Units as at the year end.

6. Deferred Income Taxes: Eventhough, the Company has unabsorbed Depreciation and carry forward losses, deferred tax asset has not been recognised in the books of accounts since generation of sufficient future taxable income in near future is uncertain.

7. The company is engaged in the Business of Marketing/Trading of Hospital Products. There are no other reportable segments.

8. Previous year's figures have been re-grouped wherever necessary to confirm to the figures for the current year.

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Mar 31, 2010

1. Contingent Liabilities not provided for:

Claims not acknowledged as debts : Rs.1,02,52,607/-



Relating to the above, a proposal for settlement with a scheduled bank is made and the same is pending for clearance with the said bank. In line with the said proposal Rs. 40.00 lakhs was deposited in a ‘No Lien account.

(Previous year Rs.1,02,52,607/-)

2. The Company has filed Suits for recovery of the dues in respect of certain cases which are in different stages and final outcome is awaited. However, appropriate provisions have been made for doubtfuldebts.

3. Balances of Sundry Debtors, Sundry Creditors, Loans and Advances payable or receivable are subject to confirmations to be obtained from the parties.

4. There were no dues to SSI Units as at the year end.

5. Related Party Transactions:

As required by Accounting Standard - AS 18 “Related Party Disclosures” issued by the Institute of Chartered Accountants of India, details of transactions and list of related parties with whom transactions have taken place during the year are as follows:

c) There are no Loans and Advances in the nature of Loans to Subsidiaries, Associates etc. as required to be disclosed under Clause 32 of listing agreement. The Company has an investment of Rs.275.02 lacs in 2750220 Equity Shares of Rs.10/- each in its Associate Company M/s Medinova Diagnostic Services Limited.

6. Deferred Income Taxes: Eventhough, the Company has unabsorbed Depreciation and carry forward losses, deferred tax asset has not been recognised in the books of accounts since generation of sufficient future taxable income in near future is uncertain.

7. The company is engaged in the Business of Marketing/Trading of Hospital Products. There are no other reportable segments.

8. Previous years figures have been re-grouped wherever necessary to confirm to the figures for the current year.

9. Disclosure required by the AS-15 (Revised) - Employee Benefits. The Company adopted the revised Accounting Standard - 15 Employee Benefits. The details of the components of net benefit expenses recognised in the profit and loss account with regard to gratuity and amounts recognised in the Balance Sheet are given below.

10. Information as required under part - I V, Schedule VI of the Companies Act, 1956 is given in the.