(i) Rights, preferences and restrictions attached to shares
Equity Shares: The Company has one class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
General Description of the Plan
The Entity operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service. In case of some employees, the Entity's scheme is more favourable as compared to the obligation under Payment of Gratuity Act, 1972.
The company has obtained gratuity valuation upto 31-03-2023 and thus the same has been provided upto that period. No gratuity effect is given for the interim period.
The Company is in Appeal from AY 2014-15 ordered on 23/12/2016 under section 143(3) of Income Tax Act Abide by Law Under CIT(A) of Rs. 1,04,43,300/-
The Company is in Appeal from AY 2015-16 ordered on 23/12/2017 under section 143(3) of Income Tax Act Abide by Law Under CIT(A) of Rs. 1,12,40,430/-
The company has not accounted for interest provision as per msme act, 2006 as the company has made payments to msme vendors within contractual period which is exceeding the contractual time limit as per msmed act 2006 and the amount payable to them are agreed between the company and the vendors consiering the contractual credit period and hence, no interest is payable.
The Company has an operating lease arrangement to accommodate the staff and paid rent Rs. 3,20,000/- for the period and the same shall continue for non cancellable term.
The Company Has an operating lease Rental Income of Rs. 20,40,000/- From Essen Speciality Disposablle LLP and Rs. 70,800/- From Pro Shell Packaging.
The Lease Arrangement Includes Rs. 123124/- From Morbi Godwon Rent and Rs. 4,80,000/- From Madhav Cotton Godwon Rent.
(a) Current Ratio: The Ratio has Improved due to increase in receivables and decrease in company's Borrowings.
(b) Debt-Equity Ratio: The Ratio has Improved due to increase in equity and decrease in company's Debt.
(c) Debt Service Coverage Ratio: The Ratio has Improved due to drastic change in Earnings and change in finance cost.
(d) Return on Equity Ratio: The Ratio has improved due to increase in profit after tax to the extent from last year.
(e) Net capital turnover ratio: The Ratio has decrease due to change in working capital and company's aim to increase into turns.
(f) Net profit ratio: The Ratio has increase as the company's Earnings has increase due to large extent.
(g) Return on Capital employed: The Ratio has Increased due to change in increase in profit with reference to increas in shareholder's Fund.
Reason for shortfall
No Proper Donation Avenues Found.
Nature of CSR activities
Nature of Corporate Social Responsibility Activities undertaken during the year ended March 31,2023 and March 31, 2022 includes Education, Healthcare, Eradicating Hunger & Poverty, Maintenance of Old Age Homes & Day Care Centres for senior citizens and Animal Welfare.
41 Other Statutory Disclosures
1. Title Deeds of all Immovable Properties as mentioned in Financial Statements are held in the name of the Company.
4 The Company has not granted any Loans or Advances in the nature of loans to promoters, Directors, KMPs or the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, repayable on demand or without specifying any terms or period of repayment.
5. The Company does not have any benami property, where any proceeding has been initiated or pending against the Company for holding any benami property.
6. The Company is not declared wilful defaulter by any bank or financials institution or lender during the year.
7. The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
8. The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies (ROC) beyond the statutory period.
9. The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.
10. There are no Scheme of Arrangements approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
11. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiaries) or
b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
12. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or
b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
13. The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
14. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
15. In accordance with the requirement of Accounting Standard 17 "" Segment Reporting "", the company has no Reportable Segment.
16. The Corresponding figures of the previous year's have been regrouped/rearranged, whenever required.
17. The Company does not have any Intangible Assets under development as at the Balance Sheet Date.
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