(a) Terms / Rights attached to the equity shares
The Company has only one class of equity shares having par value of Rs. 2 per share. Each holder of equity share is entitled to one vote per share. The Company declares and pays
dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held by the shareholders.
*As per records of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding
represents both legal and beneficial ownership of shares.
e. No ordinary shares have been reserved for issue under options & contracts/commitments for sale of shares/disinvestment as at the Balance Sheet Date;
f. No shares have been allotted by way of bonus shares or pursuant to contracts/has been bought back by the company during the period of 5 years preceding the date at which the
Balance Sheet is prepared;
g. No securities convertible into equity/preference shares have been issued by the company during the year;
h. No calls are unpaid by any directors or officers of the company during the year.
Nature and purpose of reserve:
A. General Reserve
The general reserve is a free reserve which is used from time to time to transfer profits from retained earnings for appropriation purposes.
B. Securities Premium
Securities premium reserve is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes such as issuance of bonus shares in
accordance with the provisions of the Companies Act, 2013.
C. Retained Earnings
Retained earnings are the profits that the company has earned till date. Retained earnings includes re-measurement (loss)/gain on defined benefit plans, net of taxes
that will not be reclassified to statement of profit and loss. Retained earnings is a free reserve available to the company and eligible for distribution to shareholders.
13.1 Term Loan
Term Loan from ICICI Bank was taken during the financial year 2018-19 and carries interest @ 8.45% pa. The loan is repayable in 121 installments of Rs.63,405 each
along with interest from date of loan. The loan is secured by Hypothication of Office Premises at Chennai location.
The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential
assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has
not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into
effect and will record any related impact in the period the Code becomes effective.
25. Earning Per Share
Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year.
Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company (after adjusting for interest on the convertible preference shares) by the weighted average number
of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.
29.1. Valuation principles
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current
market conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using a valuation technique.
In order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques, as explained in Note 30.
30.1. Valuation technique used
Units held in funds are measured based on their published net asset value (NAV), taking into account redemption and/or other restrictions. Such instruments are generally Level 2.
There have been no transfer between Level 1, 2 and 3 during the year ended March 31, 2025 and March 31, 2024.
31. Financial risk management objectives and policies
The Company's financial liabilities comprise loans and borrowing and other payables. The main purpose of these financial liabilities is to finance the Company's operation. The Company's financial assets
include investments, loans, trade & other financial assets and cash & cash equivalents. The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management has the
overall responsibility for establishing and governing the Company's financial risk management framework and developing and monitoring the Company's financial risk management policies. The Company's
financial risk management policies are established to identify and analyze the risks faced by the Company, to set and monitor appropriate controls.
31.1. Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three type of risk i.e. currency risk, interest
rate risk and other price risk such as commodity price risk and equity price risk. Financial instruments affected by market risk include trade payable, trade receivables, borrowings etc. Currency risk is not
applicable to the Company it is not involved in substantial foreign currency transactions.
31.1.2. Price Risk
The Company's non-listed equity securities are susceptible to market price risk arising from uncertainties about future values of the investment securities. The Company manages the equity price risk
through diversification and by placing limits on individual and total instruments. Reports on the portfolio are submitted to the Company's senior management on a regular basis. The Company's Board of
Directors reviews and approves all investment decisions.
31.2. Credit Risk
Credit risk is the risk that counterparty will not meet its obligations resulting in financial loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, bank balances, loans,
investments and other financial assets. At each reporting date, the Company measures loss allowance for certain class of financial assets based on historical trend, industry practices and the business
environment in which the Company operates.
Customer credit risk is managed by the Company's established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored and
credit quality of a customer is assessed and individual credit limits are defined in accordance with this assessment. Credit risk arising from investments, financial instruments and balances with banks is
limited because the counterparties are banks and recognised financial institutions with high credit worthiness.
34: Utilisation of Borrowed Fund & Share Premium
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 beneficiaries.
The Company has not advanced or lent 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.
35: Other Statutory Informations:
35.1: Benami Property
No proceeding has been initiated or pending against the group for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)
and rules made thereunder.
35.2: Wilful Defaulter
The company is not a declared wilful defaulter by any bank or financial institution or other lender.
35.3: Relationship with Struck off Companies
The Company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
35.4: Undisclosed income
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
ended March 31, 2025 and March 31, 2024 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)
35.5: Crypto Currency
The Company has not traded or invested in Cryptocurrency/ Virtualcurrency transactions / balances during the current and previous financial year.
35.6: The Company is not getting covered under sec 135 of the Companies Act 2013 and as such the provisions of CSR are not applicable on the
35.7: The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
35.8: There is no such requirement of compliance in relation to number of layers prescribed under clause (87) of section 2 of the Companies Act read
with Companies (Restriction on number of layers) Rules, 2017 as the company doesn't have any subsidiary.
35.9: The Company has not filed any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013 with any Competent
36: The Board of Directors approved transfer of entire shareholding of LCC Skills Limited (Elcc Info.com Limited) to Mr. Sidharth Lakhotia at a
consideration of Rs. 82.33 Lakhs. Pursuant to execution of the Share transfer agreement and transfer of shares, LCC Skills Limited (Elcc Info.com
Limited) cease to be Subsidiary of the Company. Accordingly, from current financial year, Consolidated Financial Statement is not applicable to the
Company.
37: The Board of Directors of the Company, at its meeting held on 24.07.2024, has considered and approved the proposal for the acquisition/takeover
of the Company by Mr. Shreeram Bagla & Mrs. Rachna Suman Shaw (the "Acquirer"'), subject to necessary statutory and regulatory approvals.
In accordance with the provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the Acquirer has made a public
announcement for the acquisition of 45.84% of the equity share capital of the Company. The process is currently ongoing and is subject to approval
from SEBI & Stock Exchanges.
The outcome of the takeover process may result in changes in the shareholding pattern, management control, and governance structure of the
Company. As at the reporting date, the takeover process is ongoing and no adjustments have been made in these financial statements in respect of the
same.
38: The Company has used accounting software for maintaining its books of account which did not had a feature of recording audit trail (edit log) facility. The
Company is in process of upgrading the accounting software which will have a feature of recording audit trail (edit log) facility. The Company is in the process of
establishing necessary controls and documentations regarding audit trail in respect of upgraded version of the accounting software.
39: Previous years figures have been regrouped/reclassified, where necessary, to confirm to current year classification.
For and on behalf of the Board of Directors
For Budhia & Co LCC InfoTech Limited
Chartered Accountants
Firm Registration Number: 320163E
Kriti Lakhotia Pratik Lakhotia
Manoj Kumar Budhia Managing Director Chief Financial Officer
Proprietor DIN : 00057357 DIN : 00057015
Membership Number: 055197
Place : Kolkata Vineet Jain
Date : 26th May 2025 Company Secretary
_ICSI Membership No. A51418_
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