c.    Terms / Rights attached to equity shares

The company lias only one class of equity shares having par value ol'Rs 10 per share. Each holder of equity shares is entitled to one vote per share.

d.    During the year no share was reserved for issue under options and contracts/commitments for the sale of shares/disinvestment.

1. Amount due to entities covered under Micro. Small and Medium Enterprises as defined in the Micro. Small. Medium Enterprises Development Act, 2006. have not been identified by the Company since No supplier lias intimated the company about its status as Micro or small Enterprises or its registration with the appropriate Authority under ‘The Micro. Small and Medium Enterprises

1 The company has entered into an agreement for purchase of Factory Land and building situated at F-87/4, Satpur MIDC. Nashik. Maharashtra. The purchase consideration was fixed at Rs. 462.84 Lakhs. The company had paid a sum of Rs. 350 Lakhs in the previous years towards part payment for the purchase consideration. Subsequently. TDS deducted and paid of Rs. 4.63 Lakhs on 13/02/2023 and the Purchase deed was executed and registered on 20/02/2023. None of the director is interested in the above transaction.

28(a) Employee benefit Plan (A) Defined benefit Plan

The defined benefit plan operated by the Company is as below:

Retiring gratuity

'The defined benefit plans expose the Company to a number of actuarial risks as below.

(a)    Investment risk: The present value of the defined benefit plan liability is calculated using a discount rale determined by reference to Government Bonds Yield. If plan liability is funded and return on plan assets is below this rate, it will create a plan deficit.

(b)    Interest risk: A decrease in the bond interstate (discount rate) will increase the plan liability.

(c)    Mortality risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants. For this report we have used Indian Assured l ives Mortality' (2012-14) ultimate table.

(d)    Salary risk: The present value of the defined benefit plan liability is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase ol salary in future tor plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.

The following table sets out the amounts recognised in the financial statements in respect of relit ing gratuity plan:

(B) Defined Contribution Plan Provident fund and pension

In accordance with the Employee's Provident Fund and Miscellaneous Provisions Act, 1952. eligible employees of the Company are entitled to receive benefits in respect of provident fund, a defined contribution plan, in which both employees and the Company make monthly contributions at a specified percentage ot the covered employees’ salary. The contributions, as specified under the law, are made to the employee provident fund organization (EPFO).

All transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances lor trade receivable, trade payable and other payables are unsecured I he Company has not recorded any impairment of balances relating to amounts owed by related parties during the year ended March 31. 2023 (March 31, 2022 Nil).

The assessment is undertaken each financial year through evaluating the financial position of the related party and the market in which the related party operates.

38    The Company has increased Ihe Authorised Capital of the Company from 20.00.000 shares of face Value Rs 10 per share agregating Rs 2,00.00.000 to 50,00.000 equity shares of Face Value of Rs 10 each aggregating to Rs 5,00.00.000/- vide Special Resolution Passed at tire Extra Ordinary General Meeting held on 08/12/2022.

Subsequently, The Company has increased the Authorised Capital of the Company from 50,00.000 shares of lace Value Rs 10 per share agregating Rs 5,00,00,000 to 1.00.00.000 equity shares of Face Value of Rs 10 each aggregating to Rs 10.00.00.000 • vide Special Resolution Passed at tire Extra Ordinary General Meeting held on 10/01/2023.

39    Previous Year’s Figures have been rearranged and regrouped wherever practicable and considered necessary.

40    The management has confirmed that adequate provisions have been made for all the known and determined liabilities and the same is not in excess of the amounts reasonably required to be provided for.

41    The balances of trade payables, trade receivables, loans and advances are unsecured and considered as good are subject to confirmations of respective parties concerned.

42    Eveuts Occurring after Balance sheet Date

i)    Increase in Authorised Equity Capital

The Company has increased the Autliorised Capital of the Company from 100.00.000 shares of face Value Rs 1° P*-f share agregating Rs 10.00,00,000 to 2,60,00.000 equity shares of Face Value of Rs 10 each aggregating to Rs 26.00,00.000/- vide Special Resolution Passed at die Extra Ordinary General Meeting held on 26/04/2023.

ii)    Allotment of Equity Shares on Private Placement Basis.

a)    Ihe Company has Alloted 5,98.500 Equity Shares of face value or Rs. 10 per share along with premium of Rs 40 per share aggregating Rs.2.99.25.000/- to new share holder's on Private Placement basis vide special resolution passed at the extra ordinnarv General Meeting Held on 05/06/2023.

b)    The Company additionally Alloted 2.17.020 Equity Shares of face value or Rs. 10 per share along with premium of Rs 40 per share aggregating Rs. 1,08,51,000’- to new share holder’s on Private Placement basis vide special resolution passed at the extra ordinnary General Meeting Held on 17/06/2023.

iii)    Bonus Issue Of Equity Shares    _to

The Company has Alloted 1.08,90,000 Equity Shares of face value of Rs. 10 per share aggregating Rs. 10.89.00,000 - to existing share holder's of the company in the ratio of 6 shares for every 1 share held by the share holders vide special resolution passed at the extra ordinnary General Mooting Hold on 01/06 2023.

43 Other Statutory Information

i)    t he Company does not have any Benami Property where any proceedings have been initiated or pending against the Company for holding any benami property

ii)    The Company does not have any transaction with struck off company

iii)    The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

'^v) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any oilier sources or kind of funds) by die Company to or in any other person or entity', including foreign entity ( Intermediaries ). with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lent or invest in other persons or entities identified in any manner, whatsoever by or on behalf ot the Company ( 1 Itimale Beneficiaries") or provide any guarantee, security or Ihe like on behalf of the Ultimate Beneficiaries.

v)    l'he company has nol traded or invested in Crypto currency or Virtual Currency during the financial year.

vi)    No Scheme of of .Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 (Corporate Restructuring) of the Companies Act, 2013. Thus reporting under this clause is not applicable.

vii)    Tlte company docs not have any subsidiaries, hence compliance with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of leavers) Rules, 2017 is not applicable.

v)

No funds have been received by the Company from, any person or entity, including foreign entity ("Funding Parlies"), with die understanding, whether recorded in writing or odierwise, that die Company shall, direedy or indirectly, lend or invest in odier persons or entities identified in any manner r.vhatsoever by or oil bchal f of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of Ihe Ultimate Beneficiaries.

vi) The Company has not been declared a willful defaulter by any bank or financial institution.or other lender.

44    Amounts in die financial statements are rounded off to nearest lakhs.

45    Appropriate adjustments have been made in die financial statements, whenever required, by reclassification of die corresponding items ot assets, liabilities and cash flow statement, in order to ensure consistency and compliance with requirementof Schedule III and Accounting Standards.