k) Provisions and Contingent Liability :
Provisions are recognised when the Company has a present obligation as a result of past events, it is
more likely than not that and outflow resources will be required to settle the obligation, and the amount
has been reliably estimated. A contingent liability is disclosed where there is a possible obligation or a
present obligation that may, but probably will not require an outflow resource.
23 Other Statutory Information :
During the Current Year and Previous Year:
i. The Company do not have any Benami property, where any proceeding has been initiated or pending against
the Company for holding any Benami property.
ii. The Company do not have any transactions with companies struck off.
iii. The Company do 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.
v. The company was not required to submit quarterly statement of current assets banks / financial institutions
provided as security, as it did not have any borrowings from banks or financial institutions.
vi. The Company has not advanced or loaned or invested 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.
vii. 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:
(I) 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
(II) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
viii. The Company does not have any transactions which are 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.
ix. There are no scheme of arrangements which have been filed by the Company under the Act and which have
been approved by the competent authority u/s 230 to 237 of the Act.
x. The Company has not been declared as wilful defaulter by any bank or financial institution or any other
lender.
xi. The Company has not revalued any property plant and equipment and intangible assets.
xii. There were no charges or satisfaction that were required to be registered with ROC.
xiii. The Company does not have any immovable properties and as such, it is not required to provide the
disclosures pertaining to the title deeds of the immovable properties.
The Company has exposure to the following risks arising from financial instruments:
• Credit risk ;
• Liquidity risk ; and
• Market risk
Risk Management Framework :
The board of directors has established the Risk Management Committee, which is responsible for developing and
monitoring the Company's risk management policies. The committee reports regularly to the board of directors on
its activities.The Company's risk management policies are established to identify and analyse the risks faced by
the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk
management policies and systems are reviewed regularly to reflect changes in market conditions and the
Company's activities. The Company, through its training and management standards and procedures, aims to
maintain a disciplined and constructive control environment in which all employees understand their roles and
obligations.
i. Liquidity Risk :
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its
financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to
managing liquidity is to ensure as far as possible that it will have sufficient liquidity to meet its liabilities when they
are due, under both normal and stressed condition, without incurring unacceptable losses or risking damage to the
Company's reputation.
The Company's objective is to maintain a balance between continuity of funding and flexibility through the use of
surplus funds, bank overdrafts, bank loans, debentures and inter-corporate loans.
The Company assessed the concentration of risk with respect to refinancing its debt and concluded it to be low.
The Company has access to a sufficient variety of sources of funding.
Exposure to liquidity risk :
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are
gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.
Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity
prices - will affect the Company's income or the value of its holdings of financial instruments. Market risk is
attributable to all market risk sensitive financial instruments including foreign currency receivables and payables
and long term debt. We are exposed to market risk primarily related to foreign exchange rate risk, interest rate risk
and the market value of certain commodities. Thus, our exposure to market risk is a function of investing and
borrowing activities and revenue generating and operating activities. The objective of market risk management is
to avoid excessive exposure in our revenues and costs.
The above disclosure has been determined to the extent such parties have been identified on the basis of
information available with the Company.
27 Previous year figures have been regrouped, re-arranged and re-classified wherever necessary to conform to
current year's classification
FOR SANJAY RANE & ASSOCIATES LLP FOR & ON BEHALF OF BOARD OF DIRECTORS
CHARTERED ACCOUNTANTS CHEMO PHARMA LABORATORIES LIMITED
Firm Reg. No. 121089W/W100878
Sd/- Sd/-
Sd/- ASHOK SOMANI NANDKUMAR PAREEK
CA. ABHIJEET DESHMUKH DIRECTOR & CFO DIRECTOR
PARTNER (MEMBERSHIP NO. 129145) DIN : 03063364 DIN: 00105330
UDIN : 24129145BKAJTY2877
Sd/-
UNNATI JAIN
COMPANY SECRETARY &
DATE : MAY 27, 2024 COMPLIANCE OFFICER
PLACE : MUMBAI
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