2.3 Contingent Liability (Bank Guarantee)
Bank Guarantee available in the Company is Rs. 5.50 Crores, Out of which Rs.2.7875 Crores used as on
31st March, 2024.
3.2 Title Deed of the Immovable Property - Office occupied in the name of Company.
3.3 Details of Dues to Micro, Small & Medium Enterprises as defined under MSMED Act, 2006 -
Not Applicable
Note:
Debt Equity Ratio = Debt [Borrowings Accrued interest)/ Equity (Equity share capital Other Equity)
Net worth = Equity share capital Other Equity
Debt to Service Coverage Ratio - Profit before interest and Tax / interest expense
Total debt to Total assets - (Total debt (Debt securities Borrowings (other than debt securities) Deposits
Subordinated liabilities) / Total assets
3.7 The company does not have any Benami property, where any proceeding has been initiated or pending
against the company for holding any Benami property.
3.8 The company is not declared as wilful defaulter by any bank or financial Institution or any other lender.
3.9 There is no Scheme of Arrangements approved by the Competent Authority in terms of sections 230 to
237ofthe Companies Act, 2013.
3.10 Income not recorded in the Books : The company has no such transaction which is 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.
3.11 The company have not traded or invested in Crypto currency or Virtual Currency during the year.
3.12 The company does not have any transactions with companies which is struck off under the Companies
Act.
3.13 The company does not have any charges or satisfaction which is yet to be registered with ROC beyond
the statutory period.
3.14 The company have 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:
(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.
3.15 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:
(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
3.16 Borrowing
Utilisation of borrowings
(a) The Company has used the borrowings from banks and financial institutions for the specific purpose
for which it was taken at the balance sheet date.
(b) The quarterly returns/statements of current assets filed by the Company with banks or financial
institutions in relation to secured borrowings wherever applicable, are in agreement with the books of
accounts.
3.17 Loan and Advances:
Where Loan and Advances in the nature of loans are granted to promoters, directors, KMPs (Key managerial
personnel) and the related parties ( as defined under Companies Act 2013 ), either severally or jointly with
any other person, that are
(a) Repayable on demand
fbl Without specifying anv terms or Deriod of reDavment
3.18 Based on our examination which included test checks, the company has used an accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same
has operated throughout the year for all relevant transactions recorded in the software. Internal control
system was sufficient to manage it. However, report generated are not as per the requirement due to the
software glitch.
2.18 No any employee was in receipt of remuneration which in the aggregate more than or equal to Rs.1.20
Crore per annum or Rs.8.50 Lacs per month.
2.19 In the opinion of the Board, loans and advances and current assets are of the value stated, if realized, in
the ordinary course of business.
2.20 The information under the schedule of the Companies Act, 2013 are given to the extent applicable.
2.21 The company is engaged primarily in the broking business and accordingly there are no separate
reportable segments, as per Accounting Standard -17 Segment Reporting.”
2.22 Related Party Disclosure (as required by AS-18)
List of Related Parties
(a) Key Management Personnel and their Relatives
For SHAH & TALATI For And on behalf of the Board
Chartered Accountants
ICAI Registration No : 120183W
Dr. J. H. Shah, Chairman & CEO
Kalpesh J. Shah,
CA Vimal R Talati CFO
(Membership No. 047375) Rashmikant Acharya, Director
UDIN : 24047375BKDHYU1310 Place : Vadodara
Place: Nadiad Date: 17/05/2024
Date: 17/05/2024
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