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NOTES TO ACCOUNTS

Vanta Bioscience Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 87.11 Cr. P/BV 3.92 Book Value (₹) 35.25
52 Week High/Low (₹) 195/70 FV/ML 10/750 P/E(X) 125.11
Bookclosure EPS (₹) 1.10 Div Yield (%) 0.00
Year End :2018-03 

NOTE No. 1: CORPORATE INFORMATION:

VANTA BIOSCIENCE LIMITED (“The Company”) was incorporated as Private Limited Company on 29th April, 2016, subsequently it was converted as a Public Limited Company on 17th March, 2017 and thereafter it is listed with BSE SME and the CIN being U74999TG2016PLC109280. The Company presently engaged in the business of preclinical Activities.

A) Terms/ Rights attached to Equity Shares

The company has only one class of equity shares having par value of Rs. 10 Per share. Each holder of equity share is entitiled to one vote per share .

a. Term loan from State bank of India is secured by the hypothecation of Plant & Machinery including lab equipment standing in the name of the company and primary security of Plot No. K2 11th Cross, SIPCOT, Industrial Complex, Gummidipudi, Tamilnadu-601201

b. Collateral security of Module A123 Quatrant3,5th Floor, Cyber towers, Madhapur, Serlingam pally, Ranga reddy-500050 and Personal Gurantee of two directors Mr. Mulakala Mohan Krishna and Mr.Mulakala Dopesh Raja

2. SEGMENT REPORTING:

The Company is engaged in the business of full service preclinical contract research organization. Accounting Standard 17 “Segment Reporting” issued by the Institute of Chartered Accountants of India is not applicable.

3. SHARE CAPITAL:

The authorized capital of the company is Rs. 7,50,00,000/- divided into 75,00,000 equity shares of Rs. 10/each.

Total Paid up Equity Share Capital of Rs. 5,72,80,000/- are divided into 57,28,000 equity shares of Rs. 10/each.

4. The cash balance as on 31/03/2018 amounts to Rs.5,26,002/- which given the nature of the business of the company is relatively on higher side. Since we could not undertake physical verification of cash on 31/03/ 2018, we have relied upon the certificate issued by the management in this regard.

5. In the view of Management, no event has taken place to trigger the need for testing its assets for impairment. Accordingly, as per the management’s assessment, the carrying values of its assets as at the Balance sheet date are not higher than their corresponding recoverable amounts.

6. In the opinion of the Board the Current assets, Loans and advances are approximately of the value stated if realized in the ordinary course of the business. The provision for depreciation and all known liabilities are adequate and not in excess of the amount considered reasonably necessary.

7. Confirmation of balances has not been received from any of the Creditors, Debtors and for Loans & Advances, which are subject to reconciliation. Provision for doubtful debts, if any, in respect of the above and the consequential adjustment, if any, whether of revenue nature or otherwise, will be dealt accordingly.

8. DISCLOSURE UNDER MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006:

As regards to the compliance of provisions relating to the dues to Micro, Small and Medium Enterprises in terms of Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006, the Company has sent letters to the Creditors to confirm whether they are Micro, Small and Medium Enterprises. The Company is yet to receive the confirmations from them. Hence, the Company could not quantify the dues, if any to the Micro, Small and Medium Enterprises.

9. ADDITIONAL INFORMATION PURSUANT TO PARAGRAPHS 3 & 4 OF PART II OF SCHEDULE III TO THE COMPANIES ACT 2013, (AS CERTIFIED BY A DIRECTOR):

A. PARTICULARS IN RESPECT OF GOODS MANUFACTURED:

Since the products involved are voluminous, according to the management it is not possible to give product wise details.

B. STOCKS, PURCHASES & SALES OF FINISHED GOODS:

Since the products involved are voluminous, according to the management it is not possible to give product wise details.

10. The company has not proposed any dividend for the year under review.

11. The undisputed statutory dues payable pending as at 31/03/2018 for more than six months are NIL.

12. During the year the following provisions were made:

13. The company’s investments are stated at cost price in financial statements.

Investments were stated at cost price in the financial statements.

4. Disclosure under clause 32 of the Listing Agreement

(a) Loans and Advances in the nature of Loans to Subsidiary Company NIL

(b) Loans and Advances in the nature of Loans to Associate Company NIL

(c) Loans and Advances in the nature of Loans where there is:

(i) No repayment schedule or repayment beyond 7 years. NIL

(ii) No interest or interest below section 186 of Companies Act. NIL

(d) Loans and Advances in the nature of Loans to firms/companies

In which directors are interested NIL

(e) Investment by the Loanee in the shares of the parent company And subsidiary company, when the company has made a loan

Or advance in the nature of loan. NIL

5. Previous year figures have been regrouped and rearranged wherever necessary.

6. All the amounts are rounded off to the nearest rupee.

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