| 1. Security Particulars of Secured Loans
* Term Loan from SBI
i) First pari passu charge over present and future movable and
immovable fixed assets at Ahmedabad and Surat properties of the
Company.
ii) In addition to the above, the subsidiary company, Lov Kush
Properties Pvt. Ltd., has given the corporate guarantee to the limits
availed by the company.
iii) The term loans are further guaranteed by the personal guarantee of
all executive directors.
2. Term Loan & Working Capital Loan from ICICI
i) Pari passu charge over present and future movable and immovable
fixed assets at Ahmedabad and Surat properties of the Company.
ii) The term loans are further guaranteed by the personal guarantee of
all executive directors.
* Term Loan from Religare Finvest Ltd.
i) Pari passu charge over present and future movable and immovable
fixed assets at Ahmedabad and Surat properties of the Company.
3. Secured Loans from others
i ) Vehi cle loans a re sec ur ed by the hypothecation of asset s
purchased.
4. Contingent Liabilities :
Particulars Current Year Previous Year
Rs. in Lacs Rs. in Lacs
(i) Bank Guarantee Issued to Custom 438.34 520.12
Department for Import Purpose
(ii) Demand of Income Tax Raised by
the authorities disputed and not
acknowledged as due 980.96 718.85
Total 1,419.30 1,238.97
5. Related Party Transactions :
a) Related Parties and their Relationship:
Name of Related Party Relationship
New Ramesh Kirana Stores Entities over which Key
Management Personnel are able
to exercise significant
influence
TGB Foods Pvt. Ltd Entities over which Key
Management Personnel are able
to exercise significant
influence
TGB Bakers & Confectioners Pvt. Ltd. Entities over which Key
Management Personnel are able
to exercise significant
influence
Devanand G. Somani HUF Entities over which Key
Management Personnel are able
to exercise significant
influence
Narendra G. Somani Key Management Personnel
Devanand G. Somani Key Management Personnel
Hemant G. Somani Key Management Personnel
Ramesh K. Motiani Key Management Personnel
Harshita D. Somani Relative of Key Management
Personnel
Sunita N. Somani Relative of Key Management
Personnel
Neeta H. Somani Relative of Key Management
Personnel
Bhagwati Sales Corporations Relative of Key Management
Personnel
6. Segment Reporting :
Since the company has only one segment, there is no separate reportable
segment as required in AS-17 issued by the ICAI.
7. Since the business of the Company is by way of Food and Beverages,
the quantity wise details of purchase, consumption, turnover, stock
etc. are not furnished as the items are so large in number that it is
not practicable to present.
8. The company had not received any intimation from suppliers regarding
their status under the Micro, Small & Medium Enterprise Act, 2006, and
hence disclosures, if any, relating to amounts unpaid as the year end
together with interest paid or payable as required under said Act, have
not been given.
9. In the opinion of the Board, the Current Assets, Loans and Advances
are approximately of the value stated, if realized, in the ordinary
course of business. Provision for all known liabilities is adequate and
not in excess of the amount reasonably necessary.
10. Previous years figures have been reworked, regrouped and
reclassified wherever necessary.
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