(b) Terms / Rights attached to Equity Shares
The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.
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 preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Note: Short term loan from SBI (6601.72) is bearing 9.40% rate of interest and hypothicated by factory premises at 2305/2306 GIDC and plot no 277 GIDC and against stock and debtors.
Short term loan from ICICI (1927.06) is bearing 9.25% rate of interest and as secured by Directors Flat No. 401,402, 701, 702,1101,1102 at Shriniketam, Shree Saibaba Nagar, Evershine Nagar, Malad (W), Mumbai 400064 and against stock and debtors.
Interest rate in NBFC will be charged @ 10% And from share holders @ 15%.
Interest rate for related parties will be charged @ 12%
30 Disclosure as per AS 15 “Employee Benefits” :
The Company provides for gratuity, a defined benefit plan (the Gratuity Plan), to its employees. The Gratuity Plan provided a lump sum payment to vested employees at retirement or termination of employment, an amount based on the respective employee's last drawn salary and years of employment with the Company. The plan is unfunded.
32 The Company valued Raw Meterial & Work in Progress are being valued at cost and Finished Goods are Being valued at Direct Cost or Market Value whichever is Lower as per the provision of AS-2 relating to Valuation of Inventories applies.
33 The current assets, loans & advances are stated at the value which in the opinion of the management are realisable in the ordinary course of business. Current liabilities and provisions are stated at the value payable in the ordinary course of business.
34 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
3 6 Additional Regulatory Information
(a) Details of Benami Property held
The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
(b) Details of Loans and advances
The company has not granted any loans and advances to promoters, directors, key managerial personnel (KMPs) and the related parties which are repayable on demand or without specifying any terms or period of repayment.
(c) Wilful Defaulter
The company has not been declared as a wilful Defaulter by any Financial Institution or bank as at the date of Balance Sheet.
(d) Relationship with Struck off Companies
The Company do not have any transactions with companies struck off.
(e) Registration of charges or satisfaction with Registrar of Companies (ROC)
The company has no pending charges or satisfaction which are yet to be registered with the ROC beyond the Statutory period.
(f) Compliance with number of layers of companies
The company has complied with the provision of the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.
(g) Compliance with approved Scheme(s) of Arrangements
There are no Schemes of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
(h) Discrepancy in utilization of borrowings
The company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date. There are no discrepancy in utilisation of borrowings.
(i) Utilisation of Borrowed funds and share premium:
(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(is), including foreign entities (Intermediaries).
(B) the company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party).
The company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding that the intermediary shall:
a) 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
b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;
The Company have 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:
a) 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;
b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
3 7 Additional Regulatory Information Undisclosed income
The Company has no transaction that is 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).
Details of Crypto Currency or Virtual Currency
The company has not traded or invested in Crypto currency or Virtual Currency.
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