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You can view the entire text of Notes to accounts of the company for the latest year

BSE: 543843ISIN: INE0LKQ01012INDUSTRY: Plastics - Sheets/Films

BSE   ` 28.20   Open: 28.20   Today's Range 28.20
28.20
-1.30 ( -4.61 %) Prev Close: 29.50 52 Week Range 21.65
46.30
Year End :2024-03 

Provisions, Contingent liabilities and Contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognised in the financial statements. A contingent asset is neither recognised nor disclosed in the financial statements.

Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amount of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents.

As per our report of even date

For V. N. PUROHIT & CO. For and on behalf of the Board of

Chartered Accountants Command Polymers Limited

Firm's Registration No. 304040E

Gaurav Joshi Vishnu Kumar Agarwal CS Sikha Banka

Partner Managing Director and CFO Company Secretary

Membership No. 516027 DIN: 01148739 M No.: A47067

UDIN: 24516027BKILB08401 Place: New Delhi Date: 30 May 2024

Purshotam Agarwal Guddi Gupta

Director Director

DIN: 00854523 DIN: 09611514

Place: Bhangar

_Date: 30 May 2024

Working Capital Term Loan for Rs 2450.00 thousands has been obtained from Axis Bank under ECLGS1 Extension scheme on 07/02/2022 repayable from December 2023 in 36 monthly instalments post a moratorium period of 24 months from the date of disbursement carrying interest rate as Repo Rate 3.25%

Home Loan of Rs, 18,000.00 thousands has been obtained from ICICI Bank Ltd. on 5th December, 2022, repayable in 180 Equated Monthly Instalments of Rs, 179.90 thousands carrying interest rate @ 8,75% p.a, fixed. It had been secured by way of hypothecation of collateral security by deposit of title deeds against equitable mortgage of properties of the Company along with personal guarantee given by the directors.

Home Loan of Rs, 10,000.00 thousands has been obtained from ICICI Bank Ltd. on 18th November, 2023, repayable in 240 Equated Monthly Instalments of Rs. 87.735 thousands carrying interest rate @ 8.65% p.a. fixed. It had been secured by way of hypothecation of collateral security by deposit of title deeds against equitable mortgage of properties of the Company along with personal guarantee given by the directors.

Term Loan of Rs. 42,700.00 thousands has been obtained from Axis Bank Ltd. on 5th December, 2022, repayable in 82 Equated Monthly Instalments with moratorium period of 12 months carrying interest rate @ 7.25 % p.a linked to repo. It had been secured by way of hypothecation of collateral security by deposit of title deeds against equitable mortgage of properties of the Company along with personal guarantee given by the directors.

Working Capital Term Loan for Rs 4200.00 thousands has been obtained from Axis Bank under ECLGS scheme on 07/02/2022 repayable from in 32 monthly instalments from the date of disbursement carrying interest rate as Repo Rate 3.25%

Cash credit and temporary overdraft facility (GECL) had been secured by way of hypothecation of Book Debts and collateral security against equitable mortgage of immvoable properties of the Company along with personal guarantee given by the Directors.

37 Other Statutory Disclosures as per the Companies Act, 2013

- The Company does not have any transaction with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.

- The title deeds of tire immovable properties are held in the name of the Company.

- The Company is not required to incur any CSR expenditure during the year.

- No proceedings have been initiated on or are pending against the company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988 and Rules made thereunder.

- The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

- There is no non-compliance with regard to the number of layers of companies prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

- The Company has not surrendered or disclosed any income during the current or previous year in the tax assessents under the Income Tax Act, 1961.

- The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

- The Company has not granted bans or advances in the nature of loans to promoters, directors, KMPs and the related parlies (as defined under Companies Act, 2013), either severally or jointly wih any other person.

- The Company has not advanced or loaned or invested funds to any other person or entity,including foreign entity (Intermediary) with the understanding that the Intermediary shatl:

a) directly or indirectly lend or invest in other person or entity 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.

- The Company has not received any fund from any person(s) or entity(s),including foreign entities (Funding Party with the understanding (whether recorded in writingg or otherwise) that the company shall :

a) directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries I or

b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

38 Impairment of Asset

In the opinion of Management none of the assets have impaired in value as shown in books.

39 Segment Reporting

The Company is primarily engaged in the business of polyester fabrics. The same is considered as a business segment and the management consider this as a single reportable segment. Hence, Accounting Standard (AS) 17 on Segment Reporting are not applicable on the Company.

40 Tire previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary as per the Schedule III to the Companies Act, 2013. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

As per our report of even date

For V. N. PUROHIT ft CO. For and on behalf of the Board of

Chartered Accountants Command Polymers Limited

Firm's Registration No. 304040E

Gaurav Josh! Vishnu Kumar Agarwal CS Sikha Banka

Partner Managing Director and CFO Company Secretary

Membership No. 516027 DIN: 01148739 M No.: A47067

UDIN: 24516027BKILB08401 Place: New Delhi Date: 30 May 2024

Purshotam Agarwal Ouddl Gupta

Director Director

DIN: 00854523 DIN: 09611514

Place: Bhangar

_Date: 30 May 2024