Rights, Preferences and Restrictions Attaching to Each Class of Shares
The Company has only one class of issued, subscribed and paid-up equity shares having a par value of ^.1 each. Each shareholder of equity shares is entitled to one vote per share. No dividend is proposed by the Board of directors for the financial year under audit. In the event of liquidation of the Company, the shareholders of equity shares will be entitled to receive the remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.
Upto September, 2022, the Company had 41,58,560 equity shares of ^. 10/-each fully paid up. In September and December, 2022, the Company has converted from warrant issued 3,90,000 equity shares of ^. 10/- each and 1,00,000 equity shares of ^. 10/- each. Thereafter the Company has, in February, 2023, sub-divided its 46,48,560 equity shares of ^. 10/- each into 4,64,85,600 equitys shares of ^. 1/- each fully paid up without alteration of sharehoders' right, preferences and restriction attaching to it. In March, 2023, the Company then, issued bonus 9,29,71,200 equity shares of ^. 1/- each fully paid up.
Note : Terms of repayment of term loans and other other loans
HDFC Car loan, total opening outstanding of ?. 6.18 Lakhs was secured against hypothecation of vehicles financed. Rate of Interest 9.00% p.a. and repayable within 1 year from the Balance Sheet Date is shown under the head "Current Liabilities”
HDFC GECL loan, closing outstanding of ?. 4.79 Lakhs was secured against first charge on industrial property of the company. Rate of Interest being 8.25% p.a. to 9.30% p.a. and repayable within 2 Years from the balance sheet date.
HDFC TERM loan, closing outstanding of ?. 35.26 Lakhs was secured against first charge on industrial property of the company; secured by way of first & exclusive charge by hypothecation of all stocks, book debts and fixed deposits of the company and also covered by personal guarantee of directors. Rate of Interest being 8.25% p.a. to 9.30% p.a. and repayable within 2 Years from the balance sheet date.
Kotak Bank, Term loan of ?. 123.00 lakhs and closing outstanding of ?. 93.27 Lakhs was secured against first charge on industrial property of the company; secured by way of first & exclusive charge by hypothecation of all stocks, book debts and fixed deposits of the company and also covered by personal guarantee of directors. Rate of Interest being 8.25% p.a. to 9.30% p.a. and repayable within 2 Years from the balance sheet date.
Yes Bank Term loan closing outstanding of ?. 25.16 lakhs was repayable within 2 years from the balance sheet date.
Unsecured loans from directors and their relatives are not secured and are repayable after 1 year from the date of balance sheet.
Loan repayable on demand from HDFC Bank - Cash Credit was secured by way of first & exclusive charge by hypothecation of all stocks, book debts and fixed deposits of the company and also covered by personal guarantee of directors. Rate of Interest being 8.25% p.a. to 9.30% p.a.
Details of Borrowings from banks or financial institutions on the basis of Security of Current Assets
(a) Whether quarterly returns or statement of current assets filed by the company with banks or financial institution are in agreement with the books of account.
Details of Benami Property Held
No Proceedings are initiated or pending against the company for holding any benami property under the benami transaction (Prohibition) Act, 1988 and the rule made thereunder.
The Company Has Not Revalued Its Intangible Assets.
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As At
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As At
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Particulars
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31 March 2023
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31 March 2023
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31 March 2022
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31 March 2022
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23.
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Other Current Assets
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Discount Income Receivable
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8.93
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19.70
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8.93
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19.70
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24.
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Contingent Liabilities and Commitments
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Contingent Liabilities
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a.
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Claims against the Company not acknowledged
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as debt
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-
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-
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b.
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Guarantees
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5.50
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5.50
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c.
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Other money for which the company is
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contingently liable
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-
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-
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d.
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Letter or credit issued by Bank
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577.33
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647.62
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582.83
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653.12
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Commitments
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a.
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Estimated amount of contracts remaining to be executed on capital account and not provided for
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-
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-
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b.
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Uncalled liability on shares and other investment
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-
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partly paid
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-
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-
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c.
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Other Commitments
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-
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25.
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Details of Dividends and Arrears of Dividend
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Particulars
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Per Share
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As At 31 March
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Dividend
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2023
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2022
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a.
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To Equity Share Holders
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-
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-
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-
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b.
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To Preference Share Holders
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-
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-
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-
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c.
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Arrears of Fixed Cumulative
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Dividends on Preference Share
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-
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-
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-
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26. Details Of Amount Of Securities Not Used For The Purpose For Which Such Securities Have Been Issued
During the financial year 2022-23, the Company has not issued any security.
27. Details Of Amount Of Borrowings From Banks And Financial Institution Not Used For The Purpose For Which Such Borrowings Are Taken
During the financial year 2022-23, the Company has not used the borrowing from banks and financial institution for the purposes other than those for which such borrowings were raised
28. Details Of Assets Having Value On Realisation Less Than The Amount At Which The Said Assets Are Stated.
As at the end of the financial year 2022-23, the Board of Directors of Company is of the opinion that the assets other than Property, Plant and Equipment, Intangible Assets and non-current investments are of the value at which the said assets are stated in the balance sheet
53. Willful Defaulter
The board of directors of the Company is of the opinion that the Company has, till the date of signing of this financial statement, not been declared as willful defaulter by its banks or financial institution
54. Relationship With Struck off Companies
On the basis of confirmation with the parties, the board of directors of the Company is of the opinion that the Company did not have any transactions with companies struck off under section 248 of the Companies Act, 2013.
55. Details of Registration of Charges or Satisfaction With Registrar of Companies Yet to Be Registered
No charges or its satisfaction is yet to be registered with Registrar of Companies.
56. Compliance With Number of Layers of Companies Not Applicable
57. Compliance With Approved Scheme (s) of Arrangements Not Applicable
58. (a) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other person/s or entity/ies including foreign entity/ies (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediaries shall lend or invest in party (“Ultimate Beneficiaries) identified by or on behalf of the Company.
(b) The Company has not received any fund from any party(s) (“Funding Party/ies”), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiary”) or provide any guarantee, security, or the like on behalf of the Ultimate Beneficiary.
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