1.11 Provisions and contingent liabilities
The company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a present obligation that cannot be estimated reliably or a possible or present obligation that may, but probably will not, require and outflow of resources. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.
1.12 Earning Per Share
Earning per share are calculated by dividing the net profit or loss after taxes for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating, diluted earnings per share, the net profit/ (loss) for the year attributable to equity shareholders and weighted average number of shares outstanding during the year are adjusted for the effects of dilutive potential equity shares.
1.13 Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.
Vehicle loans
Loans against vehicles are secured against hypothecation of vehicles against which loans are taken. Term Loan: Apna Sahakari Co-Operative Bank ltd
Primary:- First charge by way of mortgage & hypothecation of following immovable fixed assets:
a) Land & buildlng situated at Plot No.22/2 MIDC Ind. Area, Taloja, Taluka Panvel, Dist - Raigad.
b) Land & building situated on Plot No. T-5/1 MIDC Ind. Area, Taloja, Taluka Panvel, Dist - Raigad. Loans are guranteed by the Managing Director and the Wholetime Director
Rate of Interest: 9%
Note 38
Corporate Social Responsibility Expenses
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 preceeding three financial years on corporate social respnsibilty ( CSR) activities. The CSR comittee has been formed by the company as per the act. The funds were allocated and utilised through the year on CSR activities specified in schedule 7 of the companies act 2013.
Note: 40: Details Of Benami Property
The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property
Note : 41: Registration Of Charges or Satisfaction with Registrar of Companies
The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period. Note: 42: Undisclosed Income
The Company does not have any 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).
Note : 43: Details of Crypto / Virtual Currency
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year
Note : 44: Transactions with companies struck off
The Company does not have any transactions with companies struck off.
As per our report of even date
For Choudhary Choudhary & Co. For and on behalf of the Board of Directors of
Chartered Accountants Ducol Organics and Colours Limited
Firm's Registration Number - 002910C
Alok Kumar Mishra Aamer Ahmed Farid Hani Ahmed Farid
Partner Managing Director Whole-time Director
M. No. 124184 DIN : 00711705 DIN : 00711968
UDIN No: 24124184BKCXWA2778
Manisha Agrawal Sabina Qureshi
Chief Financial Officer Company Secretary
M. No. 65859
Place : Mumbai Place : Mumbai
Dated : 21st May, 2024 Dated : 21st May, 2024
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