Security Clause
a) Term loan for solar from SBI is secured by Hypothecation of grid connected rooftop solar plant and other accessories installed at rooftop of M/s AELEA Commodities Ltd located at the premises B47, Gujarat Agro infrastructure mega food park, Mangrol, Surat. b) Personal Guarantee of :- 1) Ashok Patel, 2) Firoz Hathyari, 3) Hozefa Jawadwala, 4) Satyanarayan Patro.
b) Term loan from Samunnati Finance Private Limited is secured by way of primary Hypothecation of assets funded out of the loan proceeds. Personal Guarantee of Mr. Hozefa Shabbir Husain Jawadwala and Mr. Satyanarayan Patro.
Repayment terms and Rate of interest
a) Term loan from State Bank of India carries interest at EBLR 0.75% per annum on monthly rests. The loan was sanctioned with a moratorium period of 6 months and is thereafter repayable in 54 equated monthly instalments of ' 4,30,546 each. There has been no default in repayment of principal or interest during the year ended 31st March 2026.
b) Term loan from Samunnati Finance Private Limited carries interest at 9.8% per annum, subject to revision prospectively at the lender's discretion. The loan of ' 2,00,00,000 was disbursed in three tranches of '50,00,000, ^5,00,000 and '75,00,000 in November 2025, December 2025 and January 2026 respectively and is repayable in 36 equated monthly instalments commencing January 2026. The facility expires on 13th November 2026. There has been no default in repayment of principal or interest during the year ended 31st March 2026.
Leases
Finance Leases: The Company has taken a Solar Rooftop Generating System on finance lease from Siemens Financial Services Private Limited vide Internal Reference No. 4276-1 dated 25th November 2025, for a lease term of 60 months commencing 24th December 2025, with the asset commissioned and capitalised on 19th March 2026. The lease has been classified as a finance lease in accordance with AS 19. The implicit rate of interest used for bifurcation of lease rentals between finance charge and principal repayment is 12.65% per annum, applied on a monthly reducing balance basis in accordance with the Effective Interest Rate method as prescribed under AS 19, Para 25. The lease rentals recognised during the year and the obligations on long-term finance leases payable as per the repayment schedules are as follows:
Security Clause:
a) Purchase Invoice Financing facility from HDFC Bank Limited is secured by First Pari Passu charge on stocks and book debts of the Company, both present and future. In addition, the facility is further secured by exclusive charge by way of equitable/registered mortgage on (i) Plot No. B-47, Survey No. 243, Mega Food Park, Village Shah & Vasravi, State Highway 165, Near Town of Mota Miya Mangrol, Taluka Mangrol, District Surat, Gujarat -394421 (mortgage post receipt of No Dues Certificate from Axis Bank) and (ii) Survey No. NA39/P2, Sheet No. NA99, Vasravi, Olpad, Surat, Gujarat (mortgage upfront). Personal Guarantee of: 1) Mr. Hozefa Shabbir Husain Jawadwala and 2) Mr. Satyanarayan Patro.
b) Purchase Invoice Financing facility from DBS Bank India Limited under Multiline Working Capital Facilities - 1 (sanctioned limit Rs. 20,00,00,000) and Multiline Working Capital Facilities - 2 (sanctioned limit Rs. 5,00,00,000) is secured by First Pari Passu charge on hypothecation of all current assets of the Company, both present and future. In addition, both Multiline 1 and Multiline 2 are further secured by First and Exclusive charge on all pieces and parcels of land bearing Revenue Survey Nos. 391/B and 392, Block No. 451/B/1, admeasuring about 14,268.00 square meters, situated at Moje Village Vasaravi, Sub-District Mangrol, District Surat. The facility under Multiline 2 is additionally secured by First Pari Passu charge on
(i) Flat No. 401 and (ii) Flat No. 402, each admeasuring 963.80 sq. ft. carpet area as per RERA and 1025 sq. ft. as per sanctioned plans, together with exclusive right to use 2 covered car parking spaces each, on the 4th Floor of Building No. 2, named as Saifee Park, situated at 156, Dr. Mascarenhas Road (formerly known as Mount Road), Mazgaon, Mumbai - 400010. Personal Guarantee of: 1) Mr. Satyanarayan Patro and 2) Mr. Hozefa S. Jawadwala. Additionally, three undated cheques towards repayment of the entire facility amount have been provided to DBS Bank India Limited along with a standard covering letter.
c) Purchase Invoice Discounting facility from Shriram Finance Limited is secured by four undated cheques of '75,00,000 each drawn on the working capital account of the Company and four undated cheques of ^75,00,000 each drawn on the savings accounts of the personal guarantors. Unconditional and irrevocable personal guarantees of Mr. Hozefa Jawadwala and Mr. Satyanarayan Patro have been obtained. A cash margin of 5% is maintained on the facility. The facility is further supported by a Demand Promissory Note of '3,00,00,000, a
Letter of Continuity, an Invoice Discounting Agreement, a Cash Margin / Cash Collateral Agreement, and an Email Indemnity, all executed on appropriate stamp paper.
d) Cash Credit facility from State Bank of India is secured by a first pari-passu charge on the entire stocks of raw materials, semi-finished and finished goods, consumable stores and spares, book debts, and all other current assets of the Company, both present and future. The primary security for both the Cash Credit and the Term Loan includes the grid-connected rooftop solar power plant with a capacity of 599.5 kWp installed at the Company’s plot at Mega Food Park, Mangrol, Surat. Collateral security comprises Flat No. 401 and Flat No. 402 on the 4th Floor of Building No. 02, Saifee Park, Ramdas Bhogale Marg, Mumbai - 400010, each admeasuring 963.80 sq. ft. carpet area (1,025 sq. ft. as per sanctioned plans), held in the name of Aelea Commodities Limited vide title deeds dated 30th June 2020. Personal guarantees of Mr. Ashok Patel, Mr. Hozefa Jawadwala and Mr. Satyanarayan Patro have been obtained.
e) Short Term Loan (revolving) from Samunnati Finance Private Limited is secured by hypothecation of assets funded out of the loan proceeds. No collateral security has been stipulated. Personal guarantees of Mr. Hozefa Shabbir Husain Jawadwala and Mr. Satyanarayan Patro have been obtained. Three undated cheques drawn on the Company’s overdraft account with HDFC Bank Limited (Account No. 57500001828224) and three undated cheques drawn on the Company’s overdraft account with HSBC Bank (Account No. 006574727001), each for the overall sanctioned limit, have been issued in favour of Samunnati Finance Private Limited. Additionally, two undated cheques drawn on the personal bank account of each guarantor have also been provided.
Repayment Terms and Rate of Interest:
a) Purchase Invoice Financing facility from HDFC Bank Limited (sanctioned limit Rs. 49,00,00,000) carries interest at 8.50% per annum, calculated on a 365-day basis. Each invoice financed has a maximum end-to-end tenor of 180 days from the invoice date, repayable at end of tenor or on demand. A margin of 10% is maintained on each invoice financed. Interest is payable at monthly rests, due on the first day of the subsequent month. The facility also includes a Bank Guarantee sub-limit of Rs. 27,00,00,000 carrying commission at 1% per annum plus applicable taxes, with a maximum tenor of 6 months. There has been no default in repayment of principal or interest during the year ended 31st March 2026.
b) Purchase Invoice Financing facility from DBS Bank India Limited carries interest at 8.50% per annum, linked to the RBI Policy Repo Rate (current Repo Rate of 5.50% per annum plus a margin of 3.00% per annum). The interest rate is subject to reset with immediate effect as and when the RBI revises the Repo Rate, with the reset occurring on the immediately preceding business day in the event the scheduled reset date falls on a non-business day. Each invoice financed has a maximum end-to-end tenor of 180 days from the invoice date, repayable at end of tenor or on demand. Principal amount of each tranche is to be repaid as a bullet payment on the maturity date or in instalments as agreed upon, but within the validity period of the facility. Once the facility is fully drawn, any further drawdown is permitted only after 2 clear working days from the date of repayment of any outstanding tranche. Interest is payable monthly on the last date of each month. There has been no default in repayment of principal or interest during the year ended 31st March 2026.
c) Purchase Invoice Discounting facility from Shriram Finance Limited carries interest at 13.50% per annum (fixed rate), payable on monthly rests or deducted upfront at the time of disbursement. The sanctioned limit is '3,00,00,000 (Rupees Three Crores only) vide sanction letter Ref. No. CDBKC/SCF/090/2025-26 dated 16th June 2025. The facility is revolving in nature with a tenor of up to 90 days per drawdown. The facility is valid for 12 months from the date of sanction, i.e., until 16th June 2026, and is subject to annual review. There has been no default in repayment of principal or interest during the year ended 31st March 2026.
d) Cash Credit facility from State Bank of India is sanctioned for '28,00,00,000 (Rupees Twenty-Eight Crores only) vide Letter of Arrangement No. SBI/SME/06839/AELEA/2025-26/01 dated 24th February 2026. The facility is repayable on demand and is available for a period of 12 months from the date of sanction, subject to annual review. The rate of interest applicable to the Cash Credit facility is linked to the External Benchmark Lending Rate (EBLR) and is subject to revision as and when the EBLR is revised by the Bank. There has been no default in repayment of principal or interest during the year ended 31st March 2026
e) Short Term Loan (revolving) from Samunnati Finance Private Limited is sanctioned for '3,00,00,000 (Rupees Three Crores only) vide sanction letter Ref. SFPL/AE/1059/2025-26 dated 20th November 2025. The facility is revolving in nature with a tenor of 90 days per drawdown. Principal is repayable within 90 days from the date of each disbursement and interest is payable monthly. There has been no default in repayment of principal or interest during the year ended 31st March 2026.
(i) Commitment fees paid to Tata Capital Limited which became refundable consequent to non-utilisation of the sanctioned credit facility. The said amount was received back subsequent to the balance sheet date, confirming the existence of the receivable as at 31st March 2026 in accordance with AS 4 — Contingencies and Events Occurring After the Balance Sheet Date.
(ii) Advance paid towards purchase of Plant and Machinery which became recoverable consequent to cancellation of the purchase order. The refund has been confirmed by the party and the amount has been reclassified from Capital Advances to Other Current Assets as the underlying capital transaction no longer subsists, in accordance with AS 10 — Property, Plant and Equipment.
b) Contingent liabilities
There are no contingent Liabilities outstanding as at reporting date (as at March 31,2025: Nil).
37 ADDITIONAL NOTES
(A) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the Company.
(B) The Company does not have any investment property.
C) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible assets except building.
(D) There are no loans or advances in the nature of loans are granted to Promoters, Directors, KMPs and their related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are outstanding as on 31st March, 2026:
(i) repayable on demand; or,
(ii) without specifying any terms or period of repayment.
(E) The company is not declared willful defaulter by any bank or financial institution or other lender.
(F) The company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
(G) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
(H) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the undrstanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the company or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(I) The company has 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 directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(J) No transactions has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961. There are no such previously unrecorded income or related assets.
(K) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
38 EXPENDITURE ON CORPORATE SOCIAL RESPONSIBILITY
As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. Theareas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. The Company is spending amount for these activities, which are specified in ScheduleVII of the Companies Act, 2013.
(a) Gross amount required to be spent by the Company during the year Rs. 7.42 Lakhs /- (previous year Rs. 8.10 Lakhs)
41 Previous year figures have been regrouped/rearranged whenever necessary to conform to this current year’s classification.
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