The Company has not received any intimation from "Suppliers" regarding their status under Micro, Small and Medium Enterprises Development Act, 2006, and hence disclosure relating to the outstanding amount more than 45 days cannot be ascertained.
Detailed information regarding quantitative particulars under part II of Schedule III to the Companies Act, 2013. Quantitative details are not furnished as the company is in the activity of Real Estate. Closing Inventories of Land and Land Development Expenditure is Amount 2,650.50 for current year (previous year Amount 2,525.53).
In accordance with Accounting Standard 22(AS 22) issued by the ICAI, the Company has accounted for deferred income tax during the year. The deferred income tax provision for the current year amount 0.23 towards deferred tax Asset and amount (0.29) towards deferred tax Asset in the previous year.
The Company has only one segment i.e “Real Estate”. As such there is no requirement of segment reporting.
The Corporate guarantee given by the Company is revoked as M/s. Country Club Hospitality & Holidays Limited completely repaid the term loan.
The Company has sold out the Property Situated at No.20/1-524, Sy No: 20/1, Geddanahalli, Attibele Hobli, Anekal Taluk, Bangalore District Pin-562107.
. Capital Management:
For the purpose of Company's capital management, Capital includes issued equity capital and other equity reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management is to maximise the shareholder value.
To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.
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Particulars
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31-Mar-24
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31-Mar-23
|
|
Borrowings
|
194.66
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166.42
|
|
Trade and other payables
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721.02
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861.69
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Less: Cash and cash equivalents
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(372.06)
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(407.97)
|
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Net Debt
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543.62
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620.17
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Equity
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2,450.21
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2,288.87
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Capital and Net Debt
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2,993.83
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2,909.04
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Gearing Ratio
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18.16%
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21.32°%
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29. Additional Regulatory information
i. The Company is in possession of immovable property and title deeds are held in the Name of the company.
ii. The Company has not revalued any of its Property, Plant and Equipment during the year.
iii. The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and other related parties.
iv. There are no proceedings initiated or pending against the company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under.
v. The Company has no borrowings from banks or financial institutions on the basis of security of current assets and the quarterly returns or statements filed by the company with such banks or financial institutions are in agreement with the books of account of the Company.
vi. The Company has overdraft facility from banks on the basis of security against fixed deposits and the bank statements are in agreement with the books of accounts of the company.
vii. The Company is not declared as wilful defaulter by any bank or financial Institution or other lenders.
viii. The Company did not have any transactions with Companies struck off under Section 248 of Companies Act, 2013 or Section 560 of Companies Act, 1956 considering the information available with the Company.
30. (i) Financial risk management objectives and policies
The Company's principal financial liabilities comprise of trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's principal financial assets include cash and cash equivalents that derive directly from its operations and FVTPL investments.
The Company is exposed to market risk and liquidity risk. The Company's senior management oversees management of these risks. The Company's financial risk activities are governed by appropriate policies and procedures so that financial risks are identified, measured and managed in accordance with the Company's policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.
(ii) 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 currency rate risk, interest rate risk and other price risk. Financial instruments affected by market risk include FVTPL financial instruments.
The sensitivity analysis in the following sections relate to the position as at 31 March 2024 and 31 March 2023.
(iii) Equity price risk
The Company's listed equity instruments 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. The Company's Board of Directors reviews and approves all equity investment decisions.
(iv) Liquidity Risk:
The Company's objective is to maintain a balance between continuity of funding and flexibility. The Company has sufficient working capital funds available to honour the debt maturing within 12 months.
31. The Company does not have any transactions which are not recorded in the books of accounts that has been surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 during the year.
32. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
33. There are no significant events that occurred after the balance sheet date.
34. The company has not advanced/loans/invested or received funds (either borrowed funds or share premium or any other sources or kind of funds to any other persons or entities, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall 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 provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
35. The company has also 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.
36. The Company is not covered under the provisions of section 135 of the Companies Act, 2013.
37. The Company has not declared any dividend during the year.
38. In the opinion of the management, the assets As shown in the financial Statements, have a value on realization in the ordinary course of business of at least equal to the amount at which they are stated in the balance sheet.
40. Previous year's numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.
41. The numbers have been rounded off to the nearest rupees in Lakhs.
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