14.2 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.
14.3 No equity shares have been bought back by the Company during the period of 5 years preceding the date as at which the Balance Sheet is prepared.
14.4 No securities convertible into equity shares have been issued by the Company during the year.
14.5 No calls are unpaid by any Director or Officer of the Company during the year.
14.6 Details of Shareholding of Promoters in the Company
Nature/ Purpose of each reserve
a) Securities Premium: The amount received in excess of face value of the equity shares is recognised in Securities Premium Reserve. This reserve is utilised in accordance with the provisions of the Companies Act 2013.
b) General Reserve: The reserve arises on transfer portion of the net profit to general reserve
c) Retained Earning: Generally represents the undistributed profit/amount of accumulated earnings of the company.
d) “Other Comprehensive Income (OCI) : Other Comprehensive Income (OCI) represents the balance in equity for items to be accounted under OCI and comprises of the following:
i) Equity Instruments through OCI: The Company has elected to recognise changes in the fair value of certain investment in equity instrument in other comprehensive income.
ii) Remeasurement of defined benefit obligations: The actuarial gains and losses arising on defined benefit obligations have been recognised in OCI. The amount is subsequently transferred to retained earnings as per the Schedule III requirement.
The management assessed that the fair values of cash and cash equivalents, trade ^ 2 receivables, trade payables, current borrowings, current loans and other financial ' assets & liabilities approximates their carrying amounts largely due to the short-term maturities of these instruments.
The management considers that the carrying amounts of Financial assets and
33.3 Financial liabilities recognized at nominal cost/amortised cost in the Financial statements approximate their fair values.
Non current borrowings has been contracted at floating rates of interest, which are
33.4 reset at short intervals. Fair value of floating interest rate borrowings approximates their carrying value subject to adjustments made for transaction cost.
34 Financial Risk Management
Financial management of the Company has been receiving attention of the top management of the Company. The management considers finance as the lifeline of the business and therefore, financial management is carried out meticulously on the basis of detailed management information systems and reports at periodical inte^als extending from daily reports to long-term plans. Importance is laid on liquidity and working capital management with a view to reduce over-dependence on borrowings and reduction in interest cost. Various kinds of financial risks and their mitigation plans are as follows:
34.1 Credit Risk
The credit risk is the risk of financial loss arising from counter party failing to discharge an obligation. The credit risk is controlled by analysing credit limits and credit duration for customers on continuous basis. Further, in order to manage the
34.2 Liquidity Risk
The Company determines its liquidity requirement in the short, medium and long term. This is done by drawing up cash forecast for short term and long term needs. The Company manage its liquidity risk in a manner so as to meet its normal financial obligations without any significant delay or stress. Such risk is managed through ensuring operational cash flow while at the same time maintaining adequate cash and cash equivalent position. The management has arranged for funding from banks and inter corporate and adopted a policy of managing assets with liquidity monitoring future cash flow and liquidity on a regular basis. Surplus funds not immediately required are invested in certain fixed deposits which provides flexibility to liquidate.
34.3 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 of Foreign Exchange Risk and Interest Rate Risk.
Foreign Exchange Risk
Foreign Exchange Risk is the exposure of the Company to the potential impact of the movement in foreign exchange rate. The Company does not have any material
Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market rates. The company's exposure to the risk of changes in market interest rate relates primarily to company's borrowing with floating interest rates. The Company do not have any significant The Company is aTso exposed to interest rate risk on surplus funds parked in loans. To manage such risks, such loans are granted for short durations with fixed interest rate in line with the expected business requirements for such funds.
37.0 ADDITIONAL REGULATORY REQUIREMENTS SCHEDULE III:
37.1 The Company do not have any Benami property, and does not have any proceeding
37.2 The Company do not have any charges or satisfaction which is yet to be registered
37.3 The Company have not traded or invested in crypto currency or virtual currency
37.4 The Company have not advanced or loaned or invested funds to any other
(a) directly or indirectly lend or invest in other persons or entities
(b) provide any guarantee, security or the like to or on behalf of the Ultimate
37.5 The Company have not received any fund from any person(s) or entity(ies), including
(a) directly or indirectly lend or invest in other persons or entities
(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
37.6 The Company have not any such transaction which is not recorded in the books of
37.7 The Company has not been declared as a wilful defaulter by any bank or financial
37.8 The Company does not have any transactions with Companies which are struck off.
3« Previous year figures have been reclassified/regrouped to confirm the presentation
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