XIII. Provisions and contingent liabilities:
The Company creates a provision when there is 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 possible obligation or a present obligation that may, but probably will not, require an outflow
of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
XIV. Government Subsidy:
Government subsidy related to specific fixed assets is reduced from the Gross value of the said asset. Capital Investment subsidy from Government is shown as Capital Reserve.
XV Earning per share:
The basic and diluted earnings per share is computed by dividing the net profit attributable to equity shareholders for the year, by the weighted average number of equity shares
outstanding during the year.
XVI. Cash and Cash Equivalent:
The company recognizes the following items as a part of its Cash and Cash equivalent in accordance with Accounting Standard 3 “Cash Flow Statement”
i. Cash in Hand
ii. Balances with Bank
iii. Highly liquid securities/Deposits having maturity less than 3 months
1. Term Loan from tata capital taken under primary security over the equipment of borrower already hypothecated to tata capital limited (for the existing finance facilities
availed by the borrower from TCL), FACR to be maintained at 1.5x at all times, carrying ROI of 11.5%(floating) per annum. issued under irrevocable and personal guarantee
of Mr. Aditya Kaushik, Mr. Amit Kaushik and Anita Kaushik.
3. Credit Facilities by HDFC bank ltd. having floating ROI ranging from 10.75% to 12.75% and secured against primary security of cash margin for LC, BG, debtors, FDR AS
DSRA for new term loan, FDR of lc limit of 680 lacs, for building construction & machinery, FRD for new lc of amount 1000 lacs, industrial, industrial property, personal
guarantee of the promoters and all collateral owners, stock and collateral security as detailed below :-
4. Honda City Car Loan from HDFC bank in Panchkula is secured by hypothecation of car for which loan has been taken. carrying ROI of 9.06% payable in 48 Emi’s.
6. Loan from Tata Capital is secured under CGTMSE scheme for 50% guarantee coverage and secured by personal guarantee of Mr. Amit kaushik and Mr. Aditya kaushik.
7. Honda City Car Loan from HDFC bank in Hyderabad secured by hypothecation of car for which loan has been taken. carrying ROI of 9.08% payable in 48 Emi’s.
10.Innova CRYSTA Loan from yes bank is secured by hypothecation of Innova CRYSTA carrying ROI 8.37% per annum in total 48 installments .
11. Mahendra vehicle pickup from HDFC bank is secured by hypothecation of Mahindra vehicle pickup carrying ROI 8.51% per annum in total 48 installments.
12. Kia Seltos Car Laon from union bank of India is secured by hypothecation against Brezza car carrying ROI 8.50% per annum payable in total 84 installments.
13. term loan from tata capital carrying ROI of 11.5%(floating) per annum. issued under irrevocable and personal guarantee of Mr. Aditya Kaushik, Mr. Amit Kaushik and
Anita kaushik.
14. wagonr car loan from HDFC bank is secured by hypothecation of car for which loan has been taken payable in 60 Emi’s.
15. unsecured loan from director are taken without interest subject to revision from time to time and is repayable on demand. however same has been taken to meet business
requirement on long term basis.
16. XUV car loan from HDFC bank is secured by hypothecation of car for which loan has been taken payable in 60 Emi’s.
17. BMW car loan from HDFC bank is secured by hypothecation of car for which loan has been taken payable in 60 Emi’s.
18. term loan from tata capital taken under primary security over the equipment of borrower already hypothecated to tata capital limited (for the existing finance facilities availed
by the borrower from TCL), FACR to be maintained at 1.5x at all times, carrying ROI of 11.25%(floating) per annum. issued under irrevocable and personal guarantee Of Mr.
Aditya Kaushik, Mr. Amit Kaushik and Anita Kaushik.
2. Extension of second ranking charge over existing primary & collateral securities including mortgage in fa vour of bank as detailed in note 8. carrying floating ROI @ 8.25 %
repayable in 4 years.
4. Loan from IDFC first bank is payable in 48 equal installments.
5. Honda City Car Loan from HDFC Bank is secured by hypothecation of car for which loan has been taken, carrying ROI of 9.06% payable in 48 EMI'S.
6. Loan from Tata Capital is secured byr hypothecation against specific machineryr for which loan has been taken and escrow of receivable of the borrower from HSIL in the
form and manner as acceptable Tactful Carrying ROI Of 11% payable in 60 Emfs.
7. Honda Cityr Car Loan from HDFC Bank is secured byr hypothecation of car for which loan has been taken, carrysing ROI of 9.08% payable in 48 Emi's.
8. Loan From Tata Capital is secured byr hypothecation of machinery^ purchased out of tcfsl fund and escrow of receivables of the borrower from HSIL in the form and manner
as acceptable to tcfsl. carrying ROI of 9.25% repayable in 4years.
9. Term Loan from Tata Capital carrysing ROI of 11.5%o(Floating) per annum, issued under irrevocable andpersonal guarantee of Mr. Aditya Kaushik, Mr. Amit Kaushik and
Anita Kaushik.
10. Term Loan from Tata Capital carrying ROI of 11.5%(Floating) per annum and secured under irrevocable andpersonal guarantee.
13. Innova CRYSTA Loan from Yes Bank is secured by hjpothecation of INNOVA CRYSTA ROI 8.37% per annum in total 48 installments.
14. Mahindra Vehicle Pickup from HDFC Bank is secured by hypothecation of Mahindra Vehicle Pickup carrjdng ROI 8.51% per annum in total 48 installments.
15. HDFC Term Loan carrying ROI 7. 75% per annum in total 84 installments.
16. KIA SELTOS Car Laon from Union Bank of India is secured by hypothecation against Brezza Car carrying ROI 8.50% per annum payable in total 84 installments.
17. Credit Facilities by HDFC Bank Ltd. having floating ROI ranging from 10.75% To 12. 75% and secured against primary of cash margin for LC, BG, debtors, FDR
AS DSRA for new term loan, FDR of LC limit of680lacs, for building construction & machinery, FRD for new LC of amount 1000 lacs, industrial, industrial property,
personal guarantee of the promoters and all collateral owners, stock and collateral securityjas detailed : -
18. Wagon R Car loan from HDFC bank is secured by hypothecation of car for which loan has been taken payable in 60
19. term loan from tata capital taken under primaryr securityj over the equipment of borrower alreadyjhypothecated to tata capital limited (for the existing finance facilities availed
by the borrower from TCL), FACR to be maintained at 1.5x at all times, carrying ROI of per annum, issued under irrevocable and personal guarantee of Mr.
Aditya Kaushik, Mr. Amit Kaushik and Anita Kaushik.
20. XUV Car Loan from HDFC bank is secured by hypothecation of car for which loan has been taken payable in 60 Emi’s,
21 BMW car loan from HDFC bank is secured by hypothecation of car for which loan has been taken payable in 60 Emi’s.
22.term loan from tata capital taken under primary securityr over the equipment of borrower alreadyjhypothecated to tata capital limited (for the existing finance facilities availed
by the borrower from TCL), FA CR to be maintained at 1.5x at all times, carrying ROI of 11.25%(floating) per annum, issued under irrevocable and personal guarantee of Mr.
Aditya Kaushik, Mr. Amit Kaushik and Anita Kaushik.
Note-31
Sundry Debtors, Creditors and Loan & Advances are subject to confirmation, reconciliation and consequential impact if any. The management is of the opinion that Sundry Debtors
are recoverable in nature and all efforts are being made to recover the same. However, provision for Bad & Doubtful debt required as per opinion of management.
Note-32
In the opinion of Directors, Current Assets, Loans & Advances, if realized in the ordinary course will the same value at which these are stated in the balance sheet except where
stated otherwise and the provisions have been made for all known liabilities and no personal expenses have been charged in the accounts.
Note-34 Disclosure as Per Accounting Standard-15
(a) PROVIDENT FUND: Provident fund is statutory obligation and company pay fixed contribution at pre-determined rate. It is a defined contribution plan in which both
the company and the employee contribute monthly at a determined rate. Company contribution are charged to profit & loss account.
(b) GRATUITY: Gratuity is defined Benefit plan. Gratuity (The long-term employee benefit) recognized in the Profit & Loss account and Balance sheet as required in
accordance with Accounting Standard-15(Revised) as under: -
- The company has taken buildings on lease and this lease deed is for open period with annual incremental clause of 10% every year, till the company use this premise. The lease does
not qualify for any of the conditions of financial lease; it is treated as operating lease. The lease agreements are generally being executed for a period of 11 months and as on 31.03.2026
and few of them are pending for renewal.
43) The Company has utilised the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date and no default has
been made regarding the same.
44) The title deeds of the immovable property as appearing in the books of accounts are in the name of the company.
45) The Company has not revalued any of its Property, Plant & Equipments or Intangible Assets during the current year.
46) The Company has not given any loan and advances to its promoters, Directors, KMPs or any related parties during the current year.
47) As per information and explanation given us by management, no proceedings has been intitated or pending against the Company for holding any Benami property under
Benami Transactions (Prohibition) Act, 1988.
48) As per information and explanation given us by management, Company is not declared as willful defaulter by any Bank or financial Institution or any other lender.
49) As per information and explanation given us by management, Company has not incurred any transactions with Companies struck off under section 248 of the Companies
Act 201 3 or section 560 of Companies Act 1956.
50) As per information and explanation given us by management, No charge is pending for registration before the ROC, beyond the specified time period.
51) As per information and explanation given us by management, Company is not having any transaction which is not recorded in books of accounts of Company which has
been surrendered in tax assessments under Income Tax Act 1961.
52) As per the limits prescribed under section 135 of Companies Act 2013, Corporate Social Responsibility clause is not applicable on the company during current Financial
Year.
53) As per information and explanation given us by management, Company has not dealt/traded/invested in the Crypto Currency or Virtual Currency during current financial
year.
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