22.3 - The rights, preferences and restrictions attaching to Equity Shares
The Company has a single class of equity share. Each holder of the equity shares is entitled to one vote per share and carries a right to dividends as and when declared by the Company.
22.4 No shares in the company is held by its holding company or its ultimate holding company including shares held by or by subsidiaries or associates of the holding company or the ultimate holding company.
22.5 Company has not reserved equity shares for issue under options and contracts or commitments for the sale of shares or disinvestment.
22.6 The Company has not issued any securities convertible into equity shares as on the date.
Note 10.1: Nature of Security and Terms of Repayment of Borrowings [ A ] Non-Current i) Nature of Security
Indian Rupee Term Loans from Banks are secured by:
I. Primary Security:
a) Term Loans: First charge on entire current assets of the company (both present & future).
II. Collateral Security:
a) Office at C-303, The Imperial Heights, 150 Feet Ring Road, Rajkot in the name of the company.
b) Factory Land & Building, at Plot no.1, 40A, 40B & 41A R S no. 257 (p) and Plot at Survey no. 262 (p), B/h Galaxy Bearing Ltd. Shapar (Veraval), Rajkot in the name of the company.
d) Residential Flat situated at Siddhi-6, At.Ishwariya, R.S.No.20p, Siddhi-6, Wing C, Flat No.102, Dist.Rajkot, in the name of the company.
e) No Additional Security is Provided for Term Loan ECLGS
[ B ] Current
i) Nature of Security
I. Primary Security:
a) Cash Credit / Export Limits / LC/ LER: First hypothecation charge on entire current assets of the company (both present & future).
II. Collateral Security:
a) Office at C-303, The Imperial Heights, 150 Feet Ring Road, Rajkot in the name of the company.
b) Factory Land & Building, at Plot no.1, 40A, 40B & 41A R S no. 257 (p) and Plot at Survey no. 262 (p), B/h Galaxy Bearing Ltd. Shapar (Veraval), Rajkot in the name of the company.
d) Residential Flat situated at Siddhi-6, At.Ishwariya, R.S.No.20p, Siddhi-6, Wing C, Flat No.102, Dist.Rajkot, in the name of the company.
e) No Additional Security is Provided for Term Loan ECLGS
|
Note 23: Contingent Liabilities and Commitments
|
|
(Amount in Rs. in Lakhs)
|
|
Particulars
|
AS AT
31ST MARCH, 2024
|
AS AT
31ST MARCH, 2023
|
|
(I) Contingent Liabilities
|
|
|
|
(A) Claims against the company not acknowledged as debt
|
NIL
|
NIL
|
|
(B) Guarantees
|
NIL
|
NIL
|
|
(C) Other money for which the company is contingently liable
|
NIL
|
NIL
|
|
(II) Commitments
|
|
|
|
(A) Estimated amount of contracts remaining to be executed on capital account and not provided for
|
NIL
|
NIL
|
|
(B) Uncalled liability on shares and other investments partly paid
|
NIL
|
NIL
|
|
(C) Other Commitments
|
NIL
|
NIL
|
Note 29: Additional Regulatory Information
29.1 All title deeds of Immovable Property are held in name of the Company
29.2 The Company has not revalued its Property, Plant and Equipment during the financial year
29.3 The Company does not have any Capital-Work-in Progress and Intangible assets under development
29.4 No proceedings have been initiated or pending against the company under the Benami Transactions (Prohibition) Act, 1988 and the rules made thereunder.
29.5 The Company is not declared as a wilful defaulter by any bank or financial institution or other lender.
29.6 The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
29.7 The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.
29.8 No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during the financial year.
29.9 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;
29.10 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
29.11 The Company does not have transaction 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).
29.12 The Company does not covered under section 135 of the Companies Act, 2013 during financial year.
29.13 The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
29.14 There are no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.
29.15 Quarterly Returns or Statements of Current Assets filed by the Company with Banks or Financial institutions are in agreement with the books of accounts.
29.16 There are No Loans or Advances granted to Promoters, Directors, KMPs and the Related Parties.
| 