Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management. This has been relied upon by the auditors.

(8) Contingent Liabilities and commitments:

a) Contingent liabilities:

Outstanding guarantees and counter guarantees to various banks, in respect of the guarantees given by those banks in favor of various government authorities for performance of the order Rs. 14.91 lacs (Rs. 24.91 Previous year)

b) Tax demand against the company not acknowledged as payable: Rs. 14.05 lacs refer note no. 12 (Rs. 14.05 lacs previous year).

(9) As per Ind AS - 23 “Borrowing Costs”, the borrowing cost has been charged to profit and Loss statement. None of the borrowing costs have been capitalized during the year.

(10) Licensed and Installed capacity of unmachined and machined production of tarpaulin and woven sacks is 4000 M. T. This being the technical aspect not verified by the auditors as it is certified by the directors.

(11) Confirmation letters have not been obtained from some of the Debtors, Creditors, Loans and Advances. Hence the, balances of these accounts are subject to confirmation, reconciliation and consequent adjustments, if any.

(12) During the year 2021-22, Deputy state tax commissioner passed an reassessment order for the F. Y. 2011-12 raising the total demand of Rs. 7.75 lacs including tax of Rs. 2.74 lacs, interest of Rs. 4.45 lacs and penalty of Rs. 0.56 lacs and F. Y. 2012-13 raising the total demand of Rs. 6.30 lacs including tax of Rs. 2.43 lacs and interest of Rs. 3.87 lacs. The company has not accepted the above demand and has filed an appeal with the respective authority. There is no progress in the above cases during the year.

(13) Other Regulatory Information

(a) Title deeds of Immovable Property

The title deeds of all the immovable properties (other than properties where the

Company is lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the company during any of the year reported.

(b) Revaluation of Property, Plant and Equipment and Intangible Assets

The Company has not revalued any of its Property, Plant and Equipment and Intangible Assets during any of the year reported.

(c) Loans or Advances in the nature of loans are granted to promoters, directors,

KMPs and the related parties

The Company has not granted any loans or Advances to promoters, directors, KMPs and the related parties during the year reported during the year. During the year 2023-24 company advanced Rs. 28 lakhs to the company being related party and the same received back in the same year.

(d) Capital- Work- in Progress (CWIP)

The Company does not have any Capital- Work- in Progress as at the end of any of the year reported.

(e) Intangible assets under development

The Company does not have any Intangible assets under development as at the end of any of the year reported.

(f) Details of Benami Property held

The Company does not hold any benami property as defined under the Benami

Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder. No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made there under for any of the year reported.

(g) Borrowings obtained on the basis of security of current assets

The Company has been sanctioned working capital limits from banks on the basis of security of current assets and quarterly statements filed by the company with the banks are in agreement with the books of accounts except the following:-

(h) Willful Defaulter

The Company has not been declared willful defaulter by any bank or financial institution or any other lender during any of the year reported.

(i) Relationship with Struck off Companies

The Company does not have any transactions with struck off companies during any of the year reported.

(j) Registration of charges or satisfaction with Registrar of Companies (ROC)

Registration of charges or satisfaction with Registrar of Companies (ROC) not pending during any of the year reported.

(k) Compliance with number of layers of companies

The Company is not holding company of any other company so that compliance with number of layers of companies in accordance with clause 87 of Section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 is not applicable for any of the year reported.

(l) Approved scheme of arrangements

The Company has not entered into any scheme of arrangement approved by the Competent Authority in terms of sec dons 230 to 237 of the Companies Act, 2013 during any of the year reported.

(m) Utilization of Borrowed funds and share premium

The Company has not advanced or loaned oi invested funds (either borrowed funds or share premium 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:

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

The Company have not received fund from any persons or entities, 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.

(n) Undisclosed Income

The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during any of the period/ year in the tax assessments under the Income Tax Act,

1961 and during any of the year reported.

(o) Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in crypto currency or virtual currency during any of the year reported.

(p) Corporate Social Responsibility (CSR)

The Company does not fall under the provisions of Section 135 of the Companies Act, 2013 and accordingly is not required to spend any amount for CSR for any of the year reported.

(14) Statement of Management

a. Balance Sheet, Statement of Profit & Loss and Cash Flow Statement read together with the schedules to the accounts and notes thereon, are drawn up so as to disclose the information required under the Companies Act, 2013 as well as give a true and fair view of the statement of affairs of the company as at the end of the year and results of the company for the year.

b. The current assets, loans and advances are good and recoverable and are approximately of the values, if realized in the ordinarv course of business unless and to the extent stated otherwise in the accounts, provision for all known liabilities is adequate and not in excess of amount reasonably necessary.