* The company has made right issue of 3,25,000 Equity shares @125/- on 20/09/2022, out of which only 2,66,500 shares were subscribed by shareholders. Later, the unsubscribed portion i.e. 58,500 equity shares of Rs. 10/- was cancelled vide ordinary resolution dated 30/10/2023.
Terms/rights attached to equity shares:
i. The company has only one class of shares referred to as equity shares having a par value of Rs.10/-. Each holder of equity shares is entitled to one vote per share
ii. In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the shareholders.
iii. Pursuant to Shareholders' resolution dated 22nd April, 2024, the Increase in the authorized share capital of the Company from ? 375.00 Lakhs divided into 30,00,000 Equity Shares and 7,50,000 preference shares of ? 10/- each to ? 2000 Lakhs divided into 1,92,50,000 Equity Shares and 7,50,000 Preference shares of ? 10/-each ranking pari-passu with the existing share capital.
Security- Primary
Paripassu charge on current assets with HDFC Bank by way of hypothecation on all current assets of the company both present and future.
Security- Collateral
HDFC will share pari passu on below mentioned properties Industrial Block No 54/1, Near Chamak Polymer, Bileshwarpura, Mehsana Highway, Taluka Kalol, Gandhinagar owned by A International Pvt Ltd
Vacant Plot Revenue Survey No 327/4/1, F P NO 157, TPS NO 240, Opp Shagun, 108, Shagun Flat, S P Ring Road, Zundal Circle.
Vacant Plot Revenue Survey No 327/4/1, F P NO 157, TPS NO 240, Opp Shagun, 108, Shagun Flat, S P Ring Road, Zundal Circle.
Further Personal Guarantee of Pankaj Ratilal Patel , Dilipkumar Ratilal Patel , Pankaj Shantilal Dadhaniya , Chandulal Ratilal Patel , Chirag Chandulal Patel, Ravi Pankajkumar Patel, Bipin Kumar Ratilal Patel, Hemang Bipinbhai Patel , Jayesh Dilipkumar Patel , Prabhaben Chandulal Patel, Ripaben Pankaj Dadhaniya , Ruhiben Hemang Patel, Disha Ravi Patel , Kantaben Bipinbhai Patel.
Further Corporate Guarantee of A. International Private Limited.
Term Loan Repayable as under
i. The loan is repayable in 43 monthly installments, starting
from Nov, 2023 amounting to Rs. 206,977/- excluding Interest. (Sr. No. h(i)) (Rate of interest 9.25% p.a.)
ii. The loan is repayable in 14 monthly installments, starting
from Nov, 2023 amounting to Rs. 1,275,863/- excluding Interest. (Sr. No. h(ii)) (Rate of interest 9.33% p.a.)
iii. The loan is repayable in 12 monthly installments, starting
from Nov, 2023 amounting to Rs. 270,833/- excluding Interest. (Sr. No. h(iii)) (Rate of interest 9.25% p.a.)
.. Nature of CSR activities include Welfare of the Mentally Challenged person with intellectual disabilities and cognitive vl1 challenges, cataract surgeries of poor and needy people, Education and Development of Hearing Impaired Children.
viii The Company does not carry any provisions for Corporate social responsibility expenses for current year and previous year.
b. Title deeds of immovable properties
The title deeds of all the immovable properties are held in the name of the company.
c. Valuation of Property Plant & Equipment, intangible asset
The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.
d. Loans or advances to specified persons
No loans or advances in the nature of loans are granted to promoters, directors, KMPS and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.
e. Details of benami property held
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.
f. Borrowing secured against current assets
The Company has borrowings from banks or financial institutions on the basis of security of current assets during the year. The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of account.
g. Wilful defaulter
The Company has not been declared wilful defaulter by any bank or financial institution or other lender.
h. Relationship with struck off companies
The Company has no transactions with the companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956.
i. Registration of charges or satisfaction with Registrar of Companies (ROC)
There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period.
j. Compliance with approved scheme(s) of arrangements
The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.
k. Compliance with number of layers of companies
The Company has complied with the number of layers prescribed under the Section 2(87) of the Companies Act, 2013 read with Companies (Restriction on number of layers) Rules, 2017.
l. Utilisation of borrowed funds and share premium
No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
m. Undisclosed income
There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account.
n. Details of crypto currency or virtual currency
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
o. Utilisation of borrowings availed from banks and financial institutions
The borrowings obtained by the company from banks and financial institutions have been applied for the purposes for which such loans were taken.
42. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
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