(b) Terms/ rights attached to equity shares
The Company has one class of equity shares having a par value of ? 2 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
(c) Equity shares held by ultimate holding/ holding company
The Company being ultimate holding company, there are no shares held by any other holding, ultimate holding company and their subsidiaries/ associates
(i) Securities premium:
Securities premium is used to record the premium on issue of shares. It can be utilised only for limited purposes in accordance with the provisions of the Companies Act, 2013.
(ii) General Reserve:
The reserve arises on transfer portion of the net profit pursuant to the earlier provisions of Companies Act, 1956. Mandatory transfer to general reserve is not required under the Companies Act, 2013
(iii) Capital Reserve:
This Reserve comprise of balance transferred from transferor Company and represents the Reduction in Equity Capital as per the Scheme
(iv) Retained earnings:
Retained earnings represents the surplus in profit and loss account and appropriations.
(v) Other Comprehensive Income:
Other Comprehensive Income is created in compliance with Ind AS notified under the Companies (Indian Accounting Standard) Rules, 2015, as amended.
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Nature of Security
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March 31,
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Primary security is hypothecated by way of first and exclusive charge on all present and future stocks, books debts, fixed deposits, current assets and movable fixed assets of the company and collateral security is commercial premises in the name of Signpost India Ltd. at (i) Poonam Plaza, office block B, Ward No.66, Mouza, Sitabuldi, 1st Floor, Poonam Plaza, Near Narang Tower, Civil lines,Khasra No. 237/1,ii) Poonam Plaza, office block C, Ward No.66 , Mouza, Sitabuldi, 6th Floor, Poonam Plaza, Near Narang Tower, Civil lines,Khasra No. 237/1,iii) Poonam Plaza, Office Block D, Ward No.66, Mouza, Sitabuldi, 6th Floor, Poonam Plaza, Near Narang Tower, Civil lines,Khasra No. 237/1, and collateral security is commercial premises in the name of Mr. Shripad Ashtekar and Mr. Rajesh Batra (iv) Office Block C Ward no.66, Mouza, Sitabuldi, 5th Floor, Poonam Plaza, Near Narang Tower, civil lines, Khasra No.237/1, (v) Residential Premises in the name of Mr.Shripad Ashtekar and Mr.Rajesh Batra Flat No.4, of S.B.Road, Shivaji Nagar, Ground Floor, Bldg. No. 47, Manik (2), Cooperative Hsg. Society,S.B. Road, Pune-411016 (vi) Residential Premises in the name of Mr. Rajesh Batra Flat No.201, Mouza, Sitabuldi, 2nd Floor, Empress Royale Wing, Bldg. C, NMC House No.924, Ward no.6, Near Gandhi sagar Lake,Nagpur-440002. vii) Residential Premises in the name of Mr.Someshwar Jogi, Flat No.001, Ground Floor, Mahurgad Apartments, Mouza, Ambazari, Complex Plot no.20, Hill Road, Near G.B. Multicare Hospital, Nagpur 440010. (viii) Residential Premises in the name of Mr.Shripad Ashtekar , Apartment No. G-2, Ward No. 73 Shivaji Nagar Mouza Ambazari, Ground Floor 18 Bless Apartment No. 60 Dharampeth Layout
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2024
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City Survey No. 478 Sheet No. 33, NMC House No. 90, Opp. Jichkar Driving School, Nagpur - 440010.(ix)
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Residential premises in the name of Mr. Shripad Ashtekar. plot no. 199, Abhyankar Nagar NMC house no. 311/a/199, survey no. 2402 sheet no. 74 ward no. 74 ,Mouza Ambazari, near Nutan public School, Nagpur-440010 (x) Residential Premises in the name of Mr.Dipankar Chatterjee, Flat No. A-1002, Vaibhav Khand, Indirapuram, 10th Floor, Block A, Plot No. 1/3, Amrapali Green,, Indirapuram,Ghaziabad,Uttar Pradesh - 201011 (xi) Residential property in the name of Mr. Dipankar Chartterjee Flat No.9D, 9th Floor, Tower B, Action Area II, PS Rajarhat, Primo Eden Court, New Town, Near Eco Space, Kolkata - 700153 (xii) Residential Property in the name of Mr.Shripad Ashtekar, Gomati Apartment 5th floor, Flat No.504, West High Court Road, Amravati Road, Law College Sq. Nagpur 440001 (xiii) Residential premises in the name of Mr.Sushil Pandey 205, Acme Ozone, Ashwood, Khewra Circle, Near D'Mart, Manpada, Thane West - 400610, (xiv) Residential Premises in the name of Mr.Premprakash Pandey A-2, Emrald Court, Acron Builders, Nagoa, Nagoa Circle, Grand Morrod, Saligao, Goa 403511.(xv) Residential Property in the name of Mr.Shripad Ashtekar, Gomati Apartment 5th floor, Flat No.505, West High Court Road, Amravati Road, Law College Sq. Nagpur 440001. (xvi) Residential property in the name of Mr.Sushil Pandey and Mrs.Nupur Pandey, Apartment No.1402, Fourteenth Floor, Bryony Building, Sector R12, Nahar's Amrit Shakti, Chandivali, Mumbai 400 084. (xvii) Property situated at 70A, Nehru Road, Near Domestic Airport , Vile Parle (East), Mumbai.
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March 31,
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Primary security is hypothecated by way of first and exclusive charge on all present and future stocks, books debts, fixed deposits, current assets and movable fixed assets of the company and collateral security is commercial premises in the name of Signpost India Ltd. at (i) Poonam Plaza, office block B, Ward No.66, Mouza, Sitabuldi, 1st Floor, Poonam Plaza, Near Narang Tower, Civil lines,Khasra No. 237/1,ii) Poonam Plaza, office block C, Ward No.66 , Mouza, Sitabuldi, 6th Floor, Poonam Plaza, Near Narang Tower, Civil lines,Khasra No. 237/1,iii) Poonam Plaza, Office Block D, Ward No.66, Mouza, Sitabuldi, 6th Floor, Poonam Plaza, Near Narang Tower, Civil lines,Khasra No. 237/1, and collateral security is commercial premises in the name of Mr. Shripad Ashtekar and Mr. Rajesh Batra (iv) Office Block C Ward no.66, Mouza, Sitabuldi, 5th Floor, Poonam Plaza, Near Narang Tower, civil lines, Khasra No.237/1, (v) Residential Premises in the name of Mr.Shripad Ashtekar and Mr.Rajesh Batra Flat No.4, of S.B.Road, Shivaji Nagar, Ground Floor, Bldg. No. 47, Manik (2), Cooperative Hsg. Society,S.B. Road, Pune-411016 (vi) Residential Premises in the name of Mr. Rajesh Batra Flat No.201, Mouza, Sitabuldi, 2nd Floor, Empress Royale Wing, Bldg. C, NMC House No.924, Ward no.6, Near Gandhi sagar Lake,Nagpur-440002. vii) Residential Premises in the name of Mr.Someshwar Jogi, Flat No.001, Ground Floor, Mahurgad Apartments, Mouza, Ambazari, Complex Plot no.20, Hill Road, Near G.B. Multicare Hospital, Nagpur 440010. (viii) Residential Premises in the name of Mr.Shripad Ashtekar , Apartment No. G-2, Ward No. 73 Shivaji Nagar Mouza Ambazari, Ground Floor 18
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2023
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Bless Apartment No. 60 Dharampeth Layout City Survey No. 478 Sheet No. 33, NMC House No. 90, Opp.
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Jichkar Driving School, Nagpur - 440010.(ix) Residential premises in the name of Mr. Shripad Ashtekar. plot no. 199, Abhyankar Nagar NMC house no. 311/a/199, survey no. 2402 sheet no. 74 ward no. 74 ,Mouza Ambazari, near Nutan public School, Nagpur- 440010 (x) Residential Premises in the name of Mr.Dipankar Chatterjee, Flat No. A-1002, Vaibhav Khand, Indirapuram, 10th Floor, Block A, Plot No. 1/3, Amrapali Green,, Indirapuram,Ghaziabad,Uttar Pradesh - 201011 (xi) Residential property in the name of Mr. Dipankar Chartterjee Flat No.9D, 9th Floor, Tower B, Action Area II, PS Rajarhat, Primo Eden Court, New Town, Near Eco Space, Kolkata - 700153 (xii) Residential Property in the name of Mr.Shripad Ashtekar, Gomati Apartment 5th floor, Flat No.504, West High Court Road, Amravati Road, Law College Sq. Nagpur 440001 (xiii) Residential premises in the name of Mr.Sushil Pandey 205, Acme Ozone, Ashwood, Khewra Circle, Near D'Mart, Manpada, Thane West - 400610, (xiv) Residential Premises in the name of Mr.Premprakash Pandey A-2, Emrald Court, Acron Builders, Nagoa, Nagoa Circle, Grand Morrod, Saligao, Goa 403511.(xv) Residential Property in the name of Mr.Shripad Ashtekar, Gomati Apartment 5th floor, Flat No.505, West High Court Road, Amravati Road, Law College Sq. Nagpur 440001. (xvi) Residential property in the name of Mr.Sushil Pandey and Mrs.Nupur Pandey, Apartment No.1402, Fourteenth Floor, Bryony Building, Sector R12, Nahar's Amrit Shakti, Chandivali, Mumbai 400 084.
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NOTE 28: EMPLOYEE BENEFIT OBLIGATIONS
(i) Post-employment obligations a) Gratuity
The Entity has a defined benefit gratuity plan in India (funded). The Entity's defined benefit gratuity plan is a final salary plan for employees, which requires contributions to be made to a separately administered fund. The fund is managed by a trust which is governed by the Board of Trustees. The Board of Trustees are responsible for the administration of the plan assets and for the definition of the investment strategy.
The following tables summarized the components of net benefit expense recognized in the statement of profit and loss, other comprehensive income, and the funded status and amount recognized in the balance sheet.
The amounts recognized in the balance sheet and the movements in the net defined benefit obligation during the year March 31, 2024 is as follows:
The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged
in a current transaction between willing parties, other than in a forced or liquidation sale.
The following methods and assumptions were used to estimate the fair values:
1. The Company has not disclosed the fair values of financial instruments such as cash and cash equivalents, other bank balances, trade receivables, other financial assets, trade payables, other financial liabilities and borrowings because their carrying amounts are a reasonable approximation of fair value. Further, for financial assets, the Company has taken into consideration the allowances for expected credit losses and adjusted the carrying values where applicable.
2. For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.
A. Fair Value Hierarchy
Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 - Other techniques for which all inputs which have a significant effect on the recorded fair value are observable,
either directly or indirectly.
Level 3 - Techniques which use inputs that have a significant effect on the recorded fair value that are not based on
observable market data.
NOTE 31: FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Company's financial assets includes investments, trade receivables and cash and cash equivalents that comes directly from its operations and financial liabilities comprises of borrowings, trade and other payables. It has an integrated financial risk management system which proactively identifies monitors and takes precautionary and mitigation measures in respect of the various risks.
The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the management of these risks, which evaluates and exercises independent control over the entire process of financial risks. All the derivative activities for risk management purposes are managed by experienced teams.
Market Risk
Market Risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors. The most common types of market risks include interest rate risk and equity price risk. Market risk is attributable to all market risk sensitive financial instruments including investments, deposits loans and borrowings.
The finance department undertakes management of cash resources, borrowing mechanism and ensuring compliance with market risk limits.
Interest Rate Risk
Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of changes in market interest rates.
The Company's investments in Bank deposits are with fixed rate of interest with fixed maturity and hence not significantly exposed to Interest rate sensitivity.
Credit risk
Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The credit risk arises from cash and cash equivalents, current and non-current loans, trade receivables and other financial assets carried at amortised cost. The Company does not hold any collateral or other credit enhancements to cover its credit risks associated with its financial assets.
The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on Simplified approach.
Cash and cash equivalents: Balances with banks are subject to low credit risks due to good credit ratings assigned to the banks.
Trade and other receivables
The Company measures the expected credit loss of trade receivables and loans from individual customers based on historical trend, industry practices and the business environment in which the entity operates. Loss rates are based on actual credit loss experience and past trends.
Liquidity risk
Liquidity risk is the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Company's financial performance. Risk management is carried out by the treasury department under policies approved by the board of directors. The treasury team identifies, evaluates and hedges financial risks in close co-operation with the Company's operating units. The board provides principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, and credit risk and investment of excess liquidity.
Maturity profile of financial liabilities
The following table details the Company's remaining contractual maturity for its financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liaibilities based on the earliest date on which the Company can be required to pay:
For the purpose of Company's capital management, capital includes issued share capital, share premium and all other equity reserves. The primary objective of capital management is to maximise shareholder value. The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants.
The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, less cash and cash equivalents.
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NOTE 33: CONTINGENT LIABILITIES
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Particulars
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March 31, 2024 March 31, 2023
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Bank Guarantees outstanding (secured against hypothecation of all present and future stocks and book debts & other current assets)
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4,707.62 3,106.74
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Taxation Matters
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54.90 -
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Nature of Statute
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Nature of Dues
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Amount
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Period to Which relate
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Forum where dispute is pending
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GST Department, Nagpur, Maharashtra
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Excess availment of ITC (GSTR2A Mismatched)
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30.76
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F.Y.2018-2019
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GST office of The Deputy Commissioner of State Tax
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GST Department, West Bengal
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Scrutiny of returns u/s-61 of Excess availment of ITC (GSTR2A Mismatched)
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9.77
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F.Y.2018-2019
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GST office of Government of West Bengal
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Income Tax
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Additional Tax
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14.37
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F.Y.2016-2017
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CIT (Appeal)
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Transaction price allocated to the remaining performance obligations
The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2023 amounts to ? NIL
NOTE 35: SEGMENT INFORMATION
The Company's business activity falls within a single business segment i.e. advertising, selling of space for advertisement in print media and public relations and hence no additional disclosure other than those already made in the financial statements is required under Ind AS 108 "Operating Segments". The Company at present operates in India only and therefore the analysis of geographical segment is not applicable.
(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
(ii) The Company does not have any transactions with companies struck off.
(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(v) The Company have not advanced or given loan or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
a) directly or indirectly lend or invest in other persons or entities 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
(vi) The Company have 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:
a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(vii) The Company does not have any such 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).
(viii) The Company has not been declared as Wilful defaulter by any Banks, Financial institution or Other lenders.
NOTE 40:
The Ministry of Corporate Affairs (MCA) has issued a notification (Companies (Accounts) Amendment Rules, 2021) which is effective from April 01, 2023, states that every company which uses accounting software for maintaining its book of account shall use only the accounting software where there is a feature of recording audit trail of each and every transaction, and further creating an edit log of each change made to books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.
The Company uses Tally ERP as a primary accounting software for maintaining books of accounts, which has a feature of maintaining audit trail edit logs facility and that has been operative throughout the financial year for the transactions recorded.
NOTE 41:
Previous year's figures have been regrouped where necessary to conform with the current year's classification. The impact of such regrouping is not material to the financial statements.
NOTE 42:
The financial statements were approved for issue by the Board of Directors on May 28, 2024.
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