During the year ended March 31, 2023, the Company on 15th December, 2022 allotted 157,50,000 bonus shares of face value of Rs. 10/- each. The bonus issue of share will be made in the ratio of 7 : 1(ie 7 (seven) fully paid up equity share for every 1 (one) Equity share held to the shareholders on such date as may be determined by the board of directors after approval of share holder in board meeting).
b) Terms / rights attached to equity shares
The Company has only one class of equity shares having par value of Rs. 10/- per share. Each equity share holder is entitled for one vote per share. Dividend, if declared and paid, will be in Indian rupees and shall be subject to the approval of shareholders in the ensuing Annual General Meeting.
During the year ended March 31, 2023 and Year ended March 31,2022, Company has not declared any dividend.
In the event of liquidation of the Company, the holder of equity shares shall be entitled to receive remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion of the number of fully paid equity shares held by each shareholder.
d) Note for verification of shareholding pattern
As per records of the company including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest , the above shareholding represents both legal and beneficial ownership of shares.
e) The company for the period of five years immediately preceding the reporting date has not
(i) Allotted any class of share as fully paid pursuant to contract (s) without payment being received in cash
(ii) Alloted fully paid up share by way of bonus share except for 1575 lacs share Rs 10 each in bonus issue on 15 December 2022.
(iii) bought back any class of share.
# Secured Cash credit facility carrying interest rate of Floating rate of CD - six months- CC/OD 1.42% presently 8.5 % P.A at monthly rest. Presently applicable bank's CD - six month - CC /OD is 7.08 %.
1) The cash credit limit has been secured by hypothecation charge on the current assets of the company both present and future.
2) Unencumbered fixed assets of the company both present and future.
3) Residential property - House no-1323, Sector-14, Urban Estate, Faridabad, Haryana owned by Durga Devi Lalani.
4) 10% cash margin for in the form of FD for BG Limit.
(The company to maintain minimum collateral coverage (IP CM) of 100% throughout the tenure of facility. Shortfall, if any, to be made good by way of additional collateral security acceptable to the bank)
i) Axis bank / Indusind bank represented as cash credit lender
ii) Difference in trade receivable represents payment received but not identified to clear the balances against particular invoice/parties.
On 15th December, 2022 the company has issue the bonus share in the ratio of 1 :7 to the exiting equity shareholders Impact of the same has been considered in calculation of basic and diluted EPS and the weighted average no of share have been adjusted for such bonus issue in line with requirement of AS 20
26 There are no present obligations requiring provisions in accordance with the guiding principles as enunciated in Accounting Standard (AS) - 29, “Provisions, Contingent liabilities & Contingent Assets” as it is not probable that an outflow of resources embodying economic benefits will be required.
27. Capital commitments:
Estimated number of contracts remaining to be executed on capital account (net of advances) and not pro-vided for - Rs. 200.00 Lakhs (Previous Year: Rs Nil).
28. Litigation status of the Company as on March 31, 2023, is as follows.
The Company does not have any pending litigations which would impact its financial position.
31. There are no foreign currency exposures at the end of the financial year (Previous year Rs. Nil).
32. In accordance with the provisions of Accounting Standard on impairment of Assets, (AS-28), the manage-ment has made assessment of assets in use & considering the business prospects related thereto, no provi-sion is considered necessary in these accounts on account of impairment of assets.
There is no non-cancellable lease other than those disclosed above.
36. The Board has certified that all the expenses accrued to the Company has been taken into consideration which belong entirely and exclusively to the business of the Company.
37. In the opinion of the Board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which these are stated in the Balance Sheet.
39. Employees benefits: As per Accounting Standard 15 “Employee Benefits”, the disclosures as defined in the Accounting Standard are given below:
A. Defined contribution plan - provident fund: Contribution to Defined Contribution Plan, recognised as expenses for the year ended in Note No. 22 ‘Employees Benefit Expenses' under the head Contribution to provident & other funds'.
B. Defined benefit plan - gratuity: In accordance with Accounting Standard - 15 (Revised 2005), actuarial valuation was obtained from the actuary in respect of the aforesaid defined benefit plans using projected unit credit method.
C. Defined benefit plan - leave encashment: In accordance with Accounting Standard - 15 (Revised 2005), actuarial valuation was obtained from the actuary in respect of the aforesaid defined benefit plans using projected unit credit method. The detail of same as follows:
40. Segment reporting: The Company's business activity primarily falls within a single business segment i.e. advertising and marketing Services. The Company operates only in one geographical segment i.e. domestic. Since there is neither more than one business segment nor more than one geographical segment, segment information as per AS 17 is not required to be disclosed.
41. The Company had given loans / advances to various companies. Loans amount outstanding as at year end is given in below mentioned table as per Section 186(4) of the Companies Act, 2013.
(a) Particulars of loan given
42. Other Statutory Information:
(i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.
(v) The Company have 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
(vi) The Company have 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,
(vii) The Company have not 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.
(viii) The Company had granted loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.
43. Subsequent to the year end the Company has completed fresh issue of equity shares by Initial Public Offer (“IPO”) of Equity Shares of the face value of Rs. 10/- each at an issue price of Rs. 65/- per Equity Share of 64,30,000 shares. Pursuant to the IPO, the Equity Shares of the Company were listed on National Stock Exchange of India Limited (“NSE”)'s Emerger platform on June 02, 2023 and proceeds from the issue of shares are deposited in fixed deposits with banks.
44. The Board of Directors of the Company in its meeting held on December 15, 2022 have approved allotment of issuance of bonus shares in the ratio of 7:1 to existing equity shareholders by capitalizing a sum of Rs. 1575 lakhs out of the retained earing of the Company, pursuant to which issued, subscribed and paid-up equity share capital of the Company stands increased from Rs. 225 lacs consisting of 22,50,000 equity shares of face value of INR 10 each to Rs. 1800 lacs consisting of 180,00,000 equity shares of face value of INR 10 each. This has been approved by the shareholders in their extra-ordinary general meeting held on December 14, 2022. Accordingly, Earning per share year ended March 31,2022 have been adjusted for bonus shares as per Accounting Standard (AS-20).
45. Figures in brackets pertain to previous year. Previous year's figures have been regrouped where necessary to confirm this year's classification.
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