(a) Terms & Right attached to Equity shares

The Company has only one class of share referred to as equity shares having a par value of Rs. 10/- Each holder of equity shares is entitled to one vote per share. 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 the proportions to their holdings.

Terms & Rights attached to Preference Share Capital

The company has issued and allotted redeemable non -cumulative, non convertible Preference Shares of Rs. 10/- each redeemable at any time at the option of the company on or after 10 Years from the date of allotment of such preference shares.

* The above loan is secured against Hypothecation of Motor Vehicle, repayable in 60 equal instalments and Last instalment due on 1st March 2028.

**Term loan taken from Kotak Mahindra Bank Limited (with sanctioed limit of Rs.2000.00 Lakhs only), secured by hypothecation of all present and future current assets, fixed assets (movable & immovable) of CRF Unit at Singur with collateral security of factory land & building with exclusive charge through equitable/registered mortgage and Plant & Machinery with exclusive charge through hypothecation along with personal guarantee of some of Directors; repayable in 54 monthly installments commencing from 1st January, 2023.

* Cash Credit/DLOD taken from Kotak Mahindra Bank Limited (sanctioned Limit of Rs.200.00 Lakhs only ) ,Secured by hypothecation of all present and future current assets fixed assets (movable & immovable) of CRF Unit at Singur with collateral security of factory land & building with exclusive charge through equitable/registered mortgage and Plant & Machinery with exclusive charge through hypothecation along with personal guarantee of some of Directors.

#Current Mautities under Deferred Payment Liabilities represent the principal amount of instalments payable to ICICI Bank and Term Loan (of Kotak Mahindra Bank Ltd) represent the principal amount of instalements repayable during next 12 months.

Note 31: Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the company, the principal amount due to Micro and Small enterprises, as defined under The Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) is Rs. 95.99 Lakhs (PY NIL) .Further no interest during the year has been paid or payable under the terms of the MSMED Act, 2006 as per terms of agreement with the parties.

Note 32: Contingent Liabilities not provided for in the Accounts in respect of :-

Bank Guarantee issued by SBI on behalf of the company in favour of WBSEDCL as on 31st March 2023 - 21.45 Lakh (P.Y ' NIL)

In our opinion and according to the information and explanations given to us and the records examined by us and based on the examination of the registered sale deed / transfer deed / conveyance deed / other relevant records evidencing title of the company, we report that, the title deeds, comprising all the immovable properties of land and buildings which are freehold other than self-constructed assets included in property plant and equipment, are held in the name of the Company as at the balance sheet date.

Certain balances shown under Sundry Debtors & Sundry Creditors are subject to confirmation /reconciliation and consequential adjustments, if any. In the opinion of the Management, the value of Sundry Debtors, Advances, Sundry Creditors on realization/payment in the ordinary course of business, will not be less/more than the value at which these balances are stated in the Balance Sheet. The Board of Directors has reviewed the realizable value of all current assets of the company and has confirmed that the value of such assets in ordinary course of business will not be less than the value at which these are recognized in the financial statements.

Pursuant to the Business Transfer Agreement ('BTA') entered into between Cosmic CRF Limited (CRF) and Cosmic Ferro Alloys Limited (CFAL) on 19th January, 2022, its subsequent novation in favour of the Company and approval by the Company's shareholders, the Company acquired the running Cold Rolled Forming (CRF) unit located at Singur, Dist : Hooghly , West Bengal of CFAL on September 7, 2022, under a going concern and on slump sale basis. In terms of the BTA, a purchase consideration of Rs. 3900.00 Lakhs was determined for transfer of the acquired business from CFAL.

Reason for variation more than 25%

Return on Equity & Return on Capital Employed: Ratio has been impacted owing to commercial operations commnecing during the year and accordingly profit arising during the year.

Note 37: Additional Statutory Information

No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988, Hence relevant disclosures are not applicable.

The Company has borrowings from banks on the basis of security of current assets. The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are generally in agreement with the books of accounts except some minor differences which are not material to report on the basis of valuation technique adopted by the company.

There are no instances of any transaction 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)

The company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013, Hence no disclosure required.

There are no charges or satisfaction of Charges pending to be registered with Registrar of Companies beyond the statutory period.

The Company is not declared as a wilful defaulter by any bank or financial Institution or other lender.

The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017

The Company has not traded or invested in crypto currency or virtual currency during the financial year

There is no scheme of arrangement approved by competent authority in terms of sections 230 to 237 of the Companies Act,2013 during the year, hence relevant disclosures are not applicable.

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 or entity, including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(Funding Party) with the understanding 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 Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

During the year ended 31st March 2021 the Central Government has published The Code on Social Security, 2020 and Industrial Relations Code, 2020 ("the Codes") in the Gazette of India, inter alia, subsuming various existing labour and industrial laws which deals with employees related benefits including post-employment. The effective date of the code and the rules are yet to be notified. The impact of the legislative changes, if any, will be assessed and recognized post notification of the relevant provisions.

Previous period's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.