F. Terms/rights attached to equity shares
The company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share and also entitled for a dividend at the proportionate rate when ever the Company conducts a meeting.
Note 24 - No material Impairment of Assets has been identified by the Company as such and no provision is required as per Accounting Standards (AS 28) issued by the Institute of Chartered Accountants of India.
Note 25 - RELATED PARTY DISCLOSURE A. Parties where control exists
i. Share holder holding substantial interest
Rithwik Rajshekar Raman - holding 36.03% of the shares.
ii. Key Managerial Personnel
Rithwik Rajshekar Raman - Managing Director Niranjan Rao - Whole Time Director T. Suresh Babu - CFO S Jayapandi - Company Secretary
(Deemed as a KMP based on the authority & responsibility as per the Explnation to Paragraph-14 of AS-18)
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(All Amounts in Indian Rupees Lakhs unless otherwise specified)
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Note 27 - CONTINGENT LIABILITIES
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Particulars
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31-Mar-25
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31-Mar-24
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i) Claims not Acknowledged as debts:
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Claim against company under Income Tax Act AY 2017 - 18
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AY 2018 - 19
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11.09
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11.09
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Claim against company under Goods & Services Act FY 2017 - 18
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4.82
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20.38
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20.38
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The Company has preferred an appeal in CIT(A) against the demand raised by the Assessing Officer in the above two Asessment Years for which the hearing is still pending.
In accordance with Section 15 to 18 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, any delay in payment beyond 45 days (if agreement available) or 15 days (if there is no agreement) shall attract interest. As per Section 16 of the Act, such interest shall be compounded monthly at a rate three times the bank rate notified by the Reserve Bank of India.
Note 30 - INVESTMENT PROPOSED BY THE COMPANY
On 24th February 2025, Rithwik Facility Management Services Limited (BSE:540843) consented to pay Rs. 7 Crores to purchase a 76% share of Rithwik Indus Power Private Limited. The acquisition was approved by the board of Rithwik Facility Management Services Limited and the same was purchased on April 2025. Subsequently 24% share
of Rithwik Indus Power Private Limited were proposed to be acquired on April 2025, the company becomes a wholly owned subsidiary of Rithwik Facility Management Services Limited post acquisition with a holding of 100% share.
Note 31 - OTHER POINTS
(i) Company has no transaction with companies struck off under section 248 of the companies act, 2013 or section 560 of companies act, 1956 during the financial year 2024-25.
(ii) Company has not traded in Crypto currency or Virtual currency during the financial year 2024-25
(iii) There is no capital commitments as at 31st March 2025
(iv) The company has not been declared as wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the financial year or after the end of reporting period but before the date when financial statements are approved
(v) The company has not surrendered or disclosed any income during the year in the tax assessments under the Income Tax Act, 1961
(Vi) During the year ended March, 2025, the company was not party to any approved scheme which needs approval from competent authority in terms of sections 230 to 237 of the companies act, 2013
Note 32 - PREVIOUS YEAR FIGURES
The previous year figure have been regrouped, reworked, rearranged and reclassified, wherever necessary and are to be read in relation to the amount and other disclosures relating to the current year.
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