The Company has only one class of ordinary shares (‘Equity Shares’) having a par value of Rs.10/- each. Each holder of ordinary shares (‘Equity Shareholders’) is entitled to one vote per share and are entitled to dividend and to participate in surplus, if any, in the event of winding up.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exists currently. The distribution will be in proportion to the number of equity shares held by shareholders.
2.6 No Equity Shares have been reserved for issue under options and contracts/commitments for the sale of shares/disinvestment as at the Balance sheet date.
2.7 No Equity shares have been bought back by the company during the period of 5 years preceeding the date as at which the Balance sheet is prepared.
2.8 No securities convertible into Equity/Preference shares have been issued by the company during the year.
3.1 Securities Premium: The amount received in excess of face value of the equity shares is recognised in Securities Premium Reserve. This reserve shall be utilised in accordance with the provisions of the Companies Act , 2013 and rules made thereunder.
4.1 Terms of repayment and nature of security, if any:
Term Loan from Financial Institution
Term loans are repayable on monthly instalments as per the terms of loan which are ranging from 36 months to 48 months and interest rate ranges from 18% to 19%
7.1 Terms of repayment and nature of security:
Unsecured Loan From Financial Institution
Term loans are repayable on monthly installments as per the terms of loan which are ranging upto 18 months.Effective Rate of Interest is 17.25 % Secured Loan from Financial Institution
Loan from Financial Institution are secured against Bank Guarantee.Maximum Repayment Period is 180 days.The interest rates are 10.5%p.a.
Details of Security Given for Cash Credit Facility :
Cash Credit in Rupee are from Bank of India
These are secured against hypothecation of Stock,Book Debts, Pledge of TDR @ 25%
Refer Note 28.9 for information on Borrowings in relation to half yearly returns of current assets filed by the company with Bank that are in agreement with the Books of Accounts.
Details of Demand Loan from Bank:
Prime Security: Demand Loan are secured against equitable mortgage of all that piece & parcel of shop being no 1 on ground floor of building 'Krishna Height Phase-I at Krishapur & against equitable mortgage of each single unit of shop no 9 & 10 on ground floor of Building 'Krishna Residency Phase 1' at Krishnapur
Collateral Security: Hypothecation of Entire Current Assets on Pari Passu Basis Personal Guarantee by director Mr. Jugal Kishore Bhagat.
Rate of Interest being RLLR @ 9.35% p.a. plus 1.25% 0.25% p.a. componded monthly
NOTE 25: OTHER DISCLOSURE
25.1 Contingent liabilities (to the extent not provided for):
(a) Claims against the company not acknowledged as debt is Rs Nil (Previous year: Rs Nil)
(b) Guarantees of Rs Nil (Previous year: Rs Nil)
(c) Other money for which the company is Contingently liable is Rs Nil (Previous year: Rs Nil)
(d) Estimated number of contracts remaining to be executed on capital amount and not provided for is Rs. Nil (Previous Year: Rs. Nil)
25.2 Disclosure under MSMED Act, 2006:
The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year-end together with interest paid/ payable under this act has not been given.
Note -27
The Company has been sanctioned working capital limit from a bank on the basis of security of current assets of the Company. The half yearly returns/statements are filed by the Company with such bank.The differences, if any, are stated below.
The half yearly statements submitted to banks were prepared and filed before the completion of all financial statement closure activities including Accounting Standard related adjustments / reclassifications & regrouping as applicable, which led to these differences between the final books of accounts and the half yearly statements submitted to banks based on provisional books of accounts.
Note 28
Segment Reporting
Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker, in deciding how to allocate resources and assessing performance. Operating segments are reported in a manner consistent with the internal financial reporting provided to the chief operating decision maker. Based on the management approach as defined in AS 17, the Chief Operating Decision Maker evaluates the Company’s performance based on two segments i.e. Construction Business & Transportation Business.
24.5 Details of Loans given, Investments made and Guarantee given covered U/s 186(4) of the Companies Act, 2013
Neither any loan nor any guarantees has been given by the Company during the current financial year (Previous Year: Nil).
24.6 Unamortised Expenses
This represents the preliminary expenses incurred at the time of the formation of the Company. Preliminary expenses have been written off one fifth of the gross amount for five year.
24.7 The Company is a Small and Medium Sized Company (SMC) as defined in the general instruction in respect of Accounting Standard notified under the Companies Act, accordingly the Company has complied with the Accounting Standards as applicable to a Small and Medium Sized Company.
* Not Relevant as the company does not have material investments
24.8 Previous Year Figures
The previous year figures have been reworked, regrouped, rearranged and reclassified whenever necessary.
Amount and other disclosures for the preceding year are included as an integral part of the current year financial
statements and are to be read to the amounts and other disclosures relating to the current year.
1. The Company is a Small and Medium Sized Company(SMC) as defined in the general instruction in respect of Accounting Standard notified under the Companies Act, accourdingly, the Company has complied with the Accounting Standards as applicale to a Small And Medium Sized Company.
2. The Company does not have any benami property, where any proceedings have been initiated or pending against the company for holding any benami property under Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made there under.
3. The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.
4. here has no any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
5. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
6. The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income during the previous 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)
7. 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 that the intermediary shall :
8. (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.
9. the company has 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 Beneficiary.
10. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
11. The Board of Directors have not recommended for the Financial Year ended 31st March, 2024.
12. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
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