C) Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of Re. 1 per share. Each holder of equity shares is entitled to one vote per share. All equity shares of the Company rank pari passu in all respects including the right to dividend. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of winding-up, subject to the rights of holders of shares issued upon special terms and conditions, the holders of equity shares shall be entitled to receive remaining assets, if any, in proportion to the number of shares held at the time of commencement of winding-up.
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24
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Contingent Liability
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Particulars
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Year ended 31 March 2025
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As at
31 March 2024
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Contingent liabilities
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Sales Tax
Demand raised by Sales tax authorities in the state of Gujarat for disallowance of set off taken for tax paid on purchase of raw materials and packing materials and charging of additional tax on purchase of raw materials for which matter is pending before Gujarat Sales Tax Tribunal, Ahmedabad for the financial year 1991-92. The Company is confident that the claim will be successfully contested. The Company has deposited Rs. 285,000 under protest with the Sales Tax Authorities against the said demand and has been written off.
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4,105
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4,105.05
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4,105.05
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4,105.05
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Future cash outflows in respect of above matters are determinable only on receipt of judgments/decisions pending at various forums/authorities. The management does not expect these claims to succeed and accordingly, no provision for the contingent liability has been recognized in the financial statements.
25 Segment information
As the company's business activity, in the opinion of the management , segment revenue from sales to external customers and internal transfer is less than 10% of total external and internal revenue of all segments , the disclosure requirements of Accounting Standard AS-17” Segment Reporting” issued by the Institute of Chartered Accountants of India are followed.
28 Considering the present financial position and the requirement of the accounting standard regarding certainty/virtual certainty, the Company has considered account for the net deferred tax assets as at the year-end as per Note No. 5
29 The identification of Micro, Small and Medium Enterprises is based on Management's knowledge of their status. Disclosure of trade payables under other liabilities is based on information available with the Company regarding.i.e. status of the suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006. Business enterprises are required to pay MSMEs within 45 days, as per section 15 of the MSMED Act, 2006, depending on the presence of a written agreement. In case there is no written agreement, payment should be made within 15 days. In case there is a written agreement, payment shall be made as per the agreed-upon timeline, not exceeding 45 days. The details from the vendors have been sought by the company as to whether creditors are covered under MSMED Act 2006 (as amended from time to time) or not. Based on information obtained, company has confirmed that payments to such parties have generally been made within the time frame stipulated under the said Act and the Creditors whose payment has not been cleared within stipulated time frame, there is no information available whether they are registered under MSME or not. So, company conclude that the above creditors are not registered under the MSME Act and we have relied on the information provided by Company.
30 The sitting fees and commission paid to non-executive directors is Rs. 1,00,500/- and Rs. 70,000/- as at March 31, 2025 and March 31, 2024, respectively.
31 Previous year's figures have been regrouped whenever considered necessary to confirm with the current year presentation.
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