o) Provisions Contingent liabilities and contingent assets: -
A provision is recognized if, as a result of a past event, the Company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as Contingent Liability.
A disclosure for a Contingent Liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
Possible obligation that arises from the past events whose existence will be confirmed by the occurrence or nonoccurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation is reported as Contingent Liability. In rare cases, when a liability cannot be measures reliable, it is classified as Contingent Liability. The Company does not recognize a Contingent Liability but disclosed its existence in the standalone financial statements.
p) Event after Reporting Date: -
Where events occurring after the Balance Sheet date provide evidence of conditions that existed at the end of reporting period, the impact of such events is adjusted within the standalone financial statements. Otherwise, events after the Balance Sheet date of material size or nature are only disclosed.
Notes Forming Part of the Financial Statements
24. The previous year's figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current annual financial statements and are to be read in relation to the amounts and other disclosures relating to the current financial year.
25. Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and Advances are subject to confirmation and therefore the effect of the same on profit could not be ascertained.
26. Balances of Trade Payables, Trade Receivable and Loans and Advances are subject to confirmations and reconciliation if any, by the respective parties.
27. The account balances existing at the beginning of the period have been relied upon the audited financial statements audited by the previous auditor.
28. Statement of Management
(i) The current assets, loans and advances are good and recoverable and are approximately of the values, if realized in the ordinary courses of business unless and to the extent stated otherwise in the Accounts. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.
(ii) Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read together with Notes to the accounts 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 under review.
36. Revaluation of property, plants and equipment.
The Company has not revalued its Property, Plant and Equipment for the current year.
37. Loans or Advances in the nature of loans.
No Loans or Advances in loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person.
39. Intangible assets under development:
There are no Intangible assets under development in the current year.
40. Details of Benami property held.
The company does not hold any benami property under the Benami Transaction (prohibition) act, 1988 and the rules there made under. Hence any proceeding has not been initiated or pending againstthe company for holding any benami property under the Benami Transaction (prohibition) act, 1988 and rules made there under.
41. Borrowings from bank or financial institution on the basis of current assets.
For the same comments is given in clause (ii)(b) Companies (Audit and Auditor) Rules, 2014.
42. Wilful Defaulter.
The company has not been declared as wilful defaulter by any bank or financial institution or government or government authority during the year reporting period.
43. Relationship with struck off companies.
The company does not have transactions with the struck off under section 248 of companies act, 2013 or section 560 of companies act 1956.
44. Registration of charges or satisfaction with Registrar of companies.
The company does not have any charges or satisfaction, which is yet to be registered with ROC beyond the statutory period.
45. Compliance with number of layers of companies.
The company is in compliance with the number of layers prescribed under clause (87) of section 2 of company's act read with companies (restriction on number of layers) Rules, 2017.
46. Compliance with approved scheme of Arrangements.
The Company has not made any arrangements in terms of section 230 to 237 of companies act 2013, and hence there is no deviation to be disclosed.
47. Utilization of borrowed funds and share premium.
As on March 31, 2024, there is no unutilized amount in respect of any issue of securities and long-term borrowing from banks and financial institutions. The borrowed funds have been utilized for the specific purpose for which the funds were raised.
48. Corporate social responsibility (CSR).
Section 135 (Corporate social responsibility) of the Companies Act, 2013 is not applicable to the company.
49. Details of crypto currency and virtual currency.
The company has not traded or invested in crypto currency or virtual currency during the financial year.
50. A No funds 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.
B. No funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded 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 Parties or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
51. The Company has raised moneys by way of Preferential public allotment dated 08/02/2024 (First Trench) of 5,41,000 shares of face value of Rs 10/- each for cash at a price of ^ 386/- per share including a share premium of ^ 376/- per share, and 13/02/2024 (Second Trench) of 11,21,000 shares of face value of Rs 10/- each for cash at a price of ^ 386/- per share including a share premium of ^ 376/- per share The company has utilized proceeds from preferential issue for the object it is issued, amount aggregating to Rs 6,415.32 lakhs.
During The year Company has issued 5,30,000 convertible Equity warrants on 13/02/2024 at issue price of Rs. 386 per warrant on preferential basis to the promoters, on receipt of the subscription money Rs. 511.45 Lakhs being 25% of the issue price Such warrants are convertible into equivalent number of fully paid-up equity shares of face value of Rs.10/-at a premium of Rs. 376/- each, at an option of the warrant holders, at any time, in one or more tranches, within 18 Months from the date of issue of warrants on the payment of balance 75% amount due on warrants.
For Sarvesh Gohil & Associates For RBM Infracon Limited
Chartered Accountants
Krupa Solanki |ay Bajrang Mani Aditya Mani
Chairman cum Managing
Partner Director Whole Time Director
M. No. 168290 (DIN:03417579) (DIN=08980569)
FRN No. 156550W
Place: (amnagar SD/- SD/-
Date: 29-05-2024 Narendra Kumar Sharma Puja Paras Mehta
UDIN: 24168290BKAGCC9221 CFO CS
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