(ii) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

The GECL loan Facility availed by the Company from State Bank of India for Rs. 2,40,00,000 is secured by Land Bearing R.S. No 400/1 situated at Bapod, Vadodara & Commercial Building located at R.S. No 510, TP - 44 Situated at Bapod -Vadodara at Rate of Interest of 7.80% on qurterly basis.

The GECL loan Facility availed by the Company from State Bank of India for Rs. 1,38,00,000 is secured by Land Bearing R.S. No 400/1 situated at Bapod, Vadodara & Commercial Building located at R.S. No 510, Situated at Bapod - Vadodara.

General Description of the Plan

The Entity operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service. In case of some employees, the Entity's scheme is more favourable as compared to the obligation under Payment of Gratuity Act, 1972.