Taxes on Income (AS-22)
The Company has provided for the Income tax in the Profit and Loss Account for the year. Impairment of Assets (AS-28)
There is no material impairment of fixed assets and as such no provision is required as per AS-28.
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Disclosure of complaints for the year 2022-23
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1.
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Customer Complaints
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a)
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No. of Complaints pending at the beginning of the year
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Nil
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b)
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No. of Complaints received during the year
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Nil
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c)
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No. of Complaints redressed during the year
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Nil
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d)
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No. of Complaints pending at the end of the year
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Nil
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In terms of RBI guidelines, the following additional disclosures have been made
CAPITAL ADEQUACY: The Company has complied with Capital Adequacy Norms Prescribed by the Reserve Bank of India. Capital Adequacy ratio as on 31.3.2023 Works out to 52.98 after taking into account the market risk on investment as Per Reserve Bank of India guidelines.
NPA written off
NPA amounting to Rs.6,56,660/- was written off during the year.
No Public Deposits will be accepted
No new Public Deposits has been accepted and public deposit as on 31st March 2023 stands NIL The Company continues to be engaged in the business of Hire purchase, Asset Financing activities.
Details of shares held by each shareholder holding more than 5% shares:
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