2.3 The company has held the EGM on 30th March, 2019 for passing the resolution for issuance of Bonus Shares in the ratio of 4:1, however, the allotment for such bonus shares are made on 26^th April, 2019 and in allotment of bonus shares 13 fractional shares are allotted in physical form.

2.4 12,13,598 Bonus shares were issued & allotted in the ratio 5:1 in accordance with the resolution passed at the EGM held on 1 st November 2021. The allotment of such shares were made on 7th December 2021. The company has issued 6 shares in physical form. Further, the fractional 5 bonus shares were issued to Mr. Jagdishbhai Ajudia, Managing Director of the company.

2.5 4,16,700 equity shares on preferential were issued in cash to four parties at a premium of Rs. 55 per shares as per the resolution passed at the EGM held on 01st November 2021. The same is allotted at the board meeting held on 21st March 2022. Since the share application money was received after due date, the company has conducted EGM on 25th May 2022 to ratify the Resolution passed at the EGM of 01st November 2021. The differential amount in respect of change in pricing of shares is received and the same is credited to "Security Premium Account" during the year.

2.6 The company had also issued & allotted 14,68,412 equity shares to two promoters against their credit balance with the Company as per the agreement entered into on 01st October 2021 with both the promoters and the approval resolution passed at the EGM held on 1 st November 2021. Since new pricing came as per the resolution passed in EGM held on 25th May 2022, the differential value of shares is received and the same has been credited to "Security Premium Account".

2.8 The Company has one class of equity shares having a par value of Rs. 10 per share. Equity shareholder is eligible for one vote per share held. They are eligible for dividend on the basis of their shareholding. In the case of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, if any, in proportion to their shareholding.

The company has provided equitable mortgage of the following land and building as security:

a. Office situated at 309, Shanti Mall, Satadhar Char Rasta, Ahmedabad

b. Industries Land and building including cold storage situated at survey number 57, 62 & 63 at Block

no 384, 380 and 379 respectively at Indira Nagar, Near Meshwo River Bank, Bardoli Kathi, Tehsil Dehgam, Gandhinagar, GJ.

c. Loans from Banks are personally guaranteed by two promoter- directors of the Company.

4.2 Vehicle Loans included in secured loan from banks are secured by hypothecation of respective vehicles. The repayments of loans are ranging between 36 months and 60 months.

4.3 Unsecured Loans form Banks and NBFCs are repayable ranging between 19 and 96 months.

9.1 The Company has dispatched letters to certain vendors to ascertain their status under the Micro, Small and Medium Enterprises Development Act, 2006. Based upon management estimation and confirmation received, the company has classified the trade payables as amount due to MSMEs. The outstanding balances of growers/farmers are also classified under MSMEs.

Certain accounts of Trade Receivable, Trade Payable, Unsecured Loans, Employees, Loans and Advances (including advances given to growers) are subject to confirmations and reconciliations, if any. The difference as may be noticed on reconciliation will be duly accounted for on completion thereof. In the opinion of the management, the ultimate difference will not be material.

In the opinion of the Board, Current and Non-current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of the business.

In order to garner additional sales and popularize the products of the Company among the retail farmers/ customers, the company has affected counter sales on cash basis for which requisite details of customers i.e. name, address, PAN, etc could not be made available to the auditors for their verification.

The company is producing and trading various grades/ varieties of seeds for which price range for purchase and production varies significantly. Consequently, the company is in the process of developing a stock accounting system by which cost of production and prices are ascertainable for each grade /varieties separately and accurately. Pending that the valuation of stock has been taken based upon the closing stock verified by the management at the year end and valued at an average rate of grade/varieties.

Contingent liabilities not provided for in respect of:-

1. Disputed demand of income tax of Rs. 93,62,629 relating to various assessment years.

2. Incom e tax (TD S) demand of Rs. 1,40,192.

Estimated value of contract remaining to be executed on capital account and not provided for in accounts.(Net of advance of Rs. 5,46,362) Rs. 23,89,500

Note:- This information has been given in respect of such vendors to the extent they could be identified as Micro and Small enterprises on the basis of information available with the Company.

The company is engaged in agriculture activities of production of seeds on lease hold land situated at various part of India.

The company has entered into agreements with various growers for cultivation and production of agricultural produce (Seeds) in view of the fact that the company itself is unable to carry on such activities which are spread over various parts of India. The company has reimbursed the cultivation expenses based upon the agreements entered into with the growers.

Expenditure related to and incurred during the implementation of the projects is included under Capital Work-in- Progress and the same are capitalized under the appropriate heads on completion of the projects.

The Company’s significant leasing arrangements are in respect of operating leases for agricultural land. These leasing arrangements which are in cancellable range and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable are charged as rent in the Statement of Profit and Loss.

The company is not fulfilling the criteria as specified in section 135 of the Companies Act, 2013 relating to the expenditure on Corporate Social Responsibility Activities, hence, the company has not incurred any expense during the year.

The company does not have assets/liabilities at the year end denominated in foreign currency which requires translation at the rates of exchange prevailing on the Balance Sheet date in accordance with Accounting Standard 11 - “The Effects of Changes in Foreign Exchange”.

No Loans or Advances in the nature of loans are granted during the year to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person.

Details of Benami Property held - No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

The Company has made borrowings from banks on the basis of security of current assets and statements of current assets filed by the Company with banks are largely in agreement with the books of accounts with certain acceptable range of variation.

Wilful Defaulter - The company is not declared wilful defaulter by any bank or financial Institution or other lender during the year.

Relationship with Struck off Companies - During the year, the company has not carried out any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956,

Utilisation of Borrowed funds and share premium: 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 understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) 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 (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

Undisclosed income - There is no case of search, survey or any other case related to income surrendered or dis closed in any tax assessments under the Income Tax Act, 1961.

The company has not invested in Crypto Currency or Virtual Currency during the year.

Previous year's figures have been regrouped and rearranged wherever necessary.