C) Terms/rights attached to equity shares

The company has only one class of equity share having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share. The dividend, if any proposed by the Board of Directrs is subject to the approval of the shareholders in the Annual General Meeting, except in case of interim dividend. In the event of liquidation of the company the holder of equity share will be entitled to receive remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion to number of equity share held by the shareholders.

E) Aggregate number of bonus share issued, share issued for consideration other than cash & share bought back during the period of five years immediately preceeding the reporting date: NIL (Previous Year - NIL)

F) Rights, preferences and restrictions attached to shares:

The Company has only one class of equity shares having face value of Rs 10 per share. Each holder of equity share is entitled to one vote per share. Equity shareholders are also entitled to dividend as and when proposed by the Board of Directors and approved by shareholders in Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts in proportion to their shareholding.

14 COMPANY INFORMATION

The Company was incorporated on August 3, 1972. The Company's operation had been hampered during 1995 and since then the operation continues to remain at a standstill. The Company was mainly engaged in the manufacture of steel in ingots or other primary forms, and other semi-finished products of steel.

15 PROVISIONS :

a) The Company owes an aggregate amount of Rs. 478.80 Lakhs (Previous Year - Rs. 450.52 Lakhs) to companies towards borrowings (inclusive of accrued interest of Rs.226.61 Lakhs (Previous Year - Rs.226.61 Lakhs)), it is unable to discharge this liability due to financial difficulties and lack of funds.

b) Provision has not been made towards interest payable to the associate companies on their short term borrowings due to the Company having not earned any revenue / income or carried out any business activities during the financial year ended 31-03-2025

c) After the closure of the plant at Mulund on 01-12-1995 the remaining facilities have been impaired/ discontinued.

d) the accumulated losses of the Company as at the Balance Sheet date exceeds its paid up share capital and free reserves eroding its networth and the Liabilities exceeds it assets as on the balance sheet date

The Company is evaluating possibilities if any for restructuring its activities and accounts have been prepared on Going Concern Basis.

16 The Company does not have different segments and hence segment-wise reporting in terms of Indian Accounting Standard (AS) 108 Operating Segments' is not applicable. Further, the Company has not carried on any production/ operation during the financial year.

19 There has been no imports, expenditure or earnings in foreign currency either during the year or in the previous year and hence no relevant information is furnished. Derivative instruments and unhedged foreign currency exposure NIL (previous year NIL).

The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benani property.

The Company does not have any transactions with the companies striked off during the year.

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

22 Based on the Information available with the company, regarding the status of the suppliers as defined under the Micro Small and Medium Enterprise Development Act, 2006 (The MSMED), no suppliers are outstanding for more than 45days as per the terms & conditions of the order.

23 The Company's affairs are managed by the Directors assisted by C.E.O., C.F.O. & C.S. under the superintendence of the Board as the operations are at a standstill.

24 The Company is of the view that it is not required to make provision for gratuity in financial statements for the year ended March 31, 2025 under the revised IND AS - 19 as the Payment of Gratutity Act, 1972 is not applicable to the Company.

25 The previous year figures have been regrouped and reclassified wherever necessary to correspond with the current year classification / disclosure.

26 Financial risk management objectives and policies

The Company's principal financial liabilities, comprise borrowings, trade and other payables. The main purpose of the significant portion of these financial liabilities is to finance the dues towards arrears of electricity charges, demurrage charges and other routine expenditure of the Company.The Company's principal financial assets include cash and cash equivalents and other financial assets.

a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.

Company does not have significant foreign currency risk exposure to the risk of changes in market interest rates as Company’s long-term debt obligations is at fixed interest rates.

b) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - borrowings, trade payables and other financial liabilities.

Liquidity risk management

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk through credit limits with borrowings. The Company's corporate treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management

c) Credit risk

Credit risk arises from the possibility that counter party may not be able to settle their obligations as agreed. Company is exposed to credit risk from loans advanced and deposits with banks. To manage this, the Company exposure to its counter parties are continuously monitored. Company deals with counter parties having high credit rating.

27 Non Recognition of Deferred Tax Asset under IND-AS 12:

Since the Company does not expect Company to have Taxable Profit in near Future on account of closure of Plant and the Company does not have any plan to start any other activity in near future Deferred Tax Assets on carry forward losses of the Company is not recognised