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33. Contingent Liabilities:
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Name of the Statute
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Forum where dispute is pending
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Period to which the amount relates
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Outstanding Demand Amount involved
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Income Tax
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Commissioner of Income Tax (Appeals)
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AY 2014-15
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260.22
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35. Depreciation on Property, Plant & Equipment
Assets are depreciated over their useful life as per Schedule II of the Companies Act, 2013.
36. Segment Reporting
Segment Reporting is not applicable as the company operates in only one segment viz. Plastic business.
37. Additional disclosure under the regulatory requirements:
i. Title Deeds of all immovable properties are held in the name of the company.
ii. The company does not have any intangible assets under development.
iii. No proceedings have been initiated during the year or are pending against the company as at 31stMarch, 2024 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
iv. According to the information and explanations given to us, the company has been sanctioned working capital limits in excess of Rs. 5 crores, in aggregate from the banks on the basis of security of current assets. In our opinion According to the information given to us the quarterly statements filed by the company with such banks are in agreement with the books of account of the company of the respective quarters.
v. The Company was not declared as a willful defaulter by any bank or financial Institution or other lenders.
vi. The Company does not have any transactions with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.
vii. There were no charges or satisfaction which were yet to be registered with ROC beyond the statutory period.
Explanation for changes in the ratio by more than 25% as compared to the preceding year
4. Due to Decrease in Sales, Company has incurred net loss during the current year.
7. Purchases of services and other expenses has been decreased during the year.
9. Due to Decrease in Sales, Company has incurred net loss during the current year.
ix. (A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), 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.
(B) The company has 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.
x. Undisclosed income:
There were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year.
xi. The Company does not come under the requirements of section 135 of the Act.
xii. The Company has neither declared nor paid any dividend during the year.
38. Previous year’s numbers have been regrouped, rearranged, recasted, wherever necessary to confirm to Current Year Classification.
39. The Figures have been rounded off to rupees in lakhs and decimals thereof.
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