b. Rights, preferences and restrictions attached to equity shares
The Company has only one class of equity shares having a par value of Rs. 10 per share. Each shareholder is entitled to one vote per share. The Company declares and pays the dividend in Indian rupees. 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 the preferential amounts, if any. The distribution will be in proportion to number of equity shares held by the shareholders.
1. Contingent Liabilities
(i) Claims against the company not acknowledged as debts Nil. Previous year Nil
(ii) Guarantees to Banks and Financial institutions against credit facilities extended to third parties Nil. Previous year Nil.
(iii) Other money for which the company is contingently liable Nil. Previous Nil
2. Commitments On Capital Accounts:-
(i) Unclaimed liability on partly paid shares Nil. Previous year Rs. Nil
(ii) Estimated amount of contracts remaining to be executed on capital accounts Nil.
Previous year Nil.
(iii) Other Commitments Nil. Previous year Nil.
3. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.
4. In the opinion of Board of Director Current Assets, Loan & advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.
6. Managerial Remuneration 6,00,000/- (Previous year Rs. 6,00,000/-).
7. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.
9. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2023 to 31st March, 2024. (Previous year Rs. Nil).
10. Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs. Nil)
Other than in the normal and ordinary course of business there are no funds that have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in 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 (“Ultimate Beneficiaries”) by or on behalf of the Company; or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
There have been no funds that have been received by the Company from any persons or entities, including foreign entities (“Funding Parties”), with the understanding, whether re corded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
The company has not accepted any deposits from public during the year ended on March 31, 2024 & previous year ended on March 31, 2023.
18. Additional Regulatory Information
(i) The company does not have any Immovable Property.
(ii) There is no any Proceeding have been initiated or pending on or against of the company for holding any Benami Property under the “Benami Transaction (Prohibition) Act, 1988 (section 45 of 1988)” and the rules made thereunder.
(iii) The Company does not have any Long-Term borrowings or Loan from Bank or any financial Institution on the basis of security of Current Assets.
(iv) The Company have not been declared a willful defaulter by bank, financial institution or any other lenders.
(v) There is no charge or modification yet to be registered with the Registrar of the companies beyond the statutory period.
(vi) The Company does not has traded or invested in Crypto Currency or Virtual Currency during the financial Year.
19. The accounts have been prepared on the basis of Schedule III of the Companies Act, 2013. The
previous year figures have adjusted/ regroup/ rearrange wherever required, to confirm with the
current year figures.
1 As defined in paragraph 5.1.26 of the Directions._
2 Provisioning norms shall be applicable as prescribed in these Directions._
3
All notified Account Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/ fair value/ NAV in respect of unquoted investments shall be disclosed irrespective of whether they are classified as long term (amortised cost in the case of Ind AS) or current (fair value in the case of Ind AS) in (5) above.
| 