DRIVIN G ROWTH - Dr. Reddy's

216
notes to the financial statements
Ultimate parent company Dr. Reddy’s Laboratories Limited confirmed that as long as it will hold the shares of Reddy Antilles N.V., it
agrees to pay back the unsecured loan amount of US$ 943,868 advanced to Reddy Pharmaceuticals Hong Kong Ltd., in case Reddy
Pharmaceuticals Hong Kong is unable to repay it.
3. ADVANCES TO AFFILIATED COMPANIES
REDDY ANTILLES N.V. | FINANCIALS | ANNUAL REPORT 2001
(Currency) (Amount) (US $)
Reddy Netherlands B.V.
Opening balance NLG (520,495) (219,255)
Currency exchange difference – hedging agreement NLG (32,708) (11,729)
Revaluation 9,900
Closing balance NLG (553,203) (221,084)
Opening balance NLG 724,046 305,000
Advances NLG 368,176 131,500
Closing balance NLG 1,092,222 436,500
Opening balance NLG (200,985) (84,664)
Revaluation 4,341
Closing balance NLG (200,985) (80,323)
Total 135,093
4. INTEREST RECEIVABLE
(US $)
ABN AMRO Bank N.V., time deposit 31
Citibank, Bahrain – time deposit 117
Total 148
5. CASH AT BANK
(US $)
ABN AMRO Bank N.V., current account 1
ABN AMRO Bank N.V., time deposit 427,646
Citibank, Bahrain 872,610
Total 1,300,257
6. ACCRUED EXPENSES
(US $)
Audit fees 3,700
Accounting fees 2,867
Legal fees 240
General expenses 310
Total 7,117