e. 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 shareholder is eligible for one vote per share held.The company declares and pays dividend in Indian rupees.
f. During the year,the company has paid final dividend of ' 1.00 per share share for FY 2021-22 which resulted in a cash outflow of ' 150.07 Lakhs
g. 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. The distribution will be in proportion to the number of equity shares held by the shareholders
a) The loan is primarily secured by hypothecation of stock and receivables and further collaterally secured by way of specific properties belonging to two directors and further guaranteed by three directors in their individual capacities.
b) The Company is regular in repayment of installment amounts along with interest as on the reporting date.
c) The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken
d) The Company was not declared willful defaulter by any bank or financial Institution or other lender.
e) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
a) The loan is primarily secured by hypothecation of stock and receivables and further collaterally secured by way of specific properties belonging to two directors and further guaranteed by three directors in their individual capacities.
b) The loan is repayable on demand.
c) The Company is regular in payment of interest on above loan as on reporting date.
Since the company deals only in Manufacturing of Human hair products and there are no geographical segments to be reported.
The total sale revenue of ' 2626.61 Lakhs includes an amount of ' 3.46 Lakhs towards net exchange gain on account of realization of export receivables.
According to an internal technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Indian Accounting Standard 36 'Impairment of Assets'.
The earmarked balances under head Cash & Cash equivalents represent the bank balance relating to the following unpaid dividends.
The Board of Directors at its meeting held on May 25, 2023 has recommended a 10% dividend of ' 1.00 per equity share of face value of ' 10/- each amounting to ' 150.07 Lakhs which is subject to approval of the shareholders at the ensuing Annual General Meeting of the Company and hence is not recognized as a liability.
45.
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CONTINGENT LIABILITIES AND COMMITMENTS
|
(' in Lakhs)
|
|
|
S.
No.
|
Particulars
|
As at
31st March
|
As at
31st March
|
|
|
|
2023
|
2022
|
|
|
(i)
|
Contingent Liabilities (to the extent not provided for):
a) Claims against the Company not acknowledged as debts
|
|
|
|
|
|
b) Guarantees excluding financial guarantees
|
-
|
-
|
|
|
(ii)
|
c) Other money for which the Company is contingently liable Commitments:
|
-
|
-
|
|
|
|
a) Estimated amount of contracts remaining to be executed on capital account and not provided for
|
-
|
-
|
|
|
|
b) Uncalled liability on shares and other investments partly paid
|
-
|
-
|
|
|
|
c) Other commitments (specify nature).
|
-
|
-
|
|
V_
|
|
|
|
|
|
Impairment of Assets
According to an internal technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Indian Accounting Standard 36 'Impairment of Assets
# Earnings for Debt Service = Net Profit before taxes Non-cash operating expenses like depreciation and other amortizations Interest other adjustments like loss on sale of Fixed assets etc.
Note:
1) Due to improvement in operating cycle of the company and liquidity current assets ratio, Debt to equity ratio, Debt service coverage ratio, Inventory and Trade receivables ratios, return on capital employed ratios are improved when compared to previous year.
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48. Additional regulatory information required by Schedule III
i) No proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.
ii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
iii) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
iv) There were no transactions relating to previously unrecorded income that have been surrendered and disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.
49. Relationship With Struck Off Companies
The Company does not have any relationship or any transaction with struck off companies.
50. Utilization of borrowed funds and share premium:
The Company has 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 has 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 anymanner 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
51. The exchange value for restatement of export receivables and EEFC account is taken at ' 82.18 per dollar.
52. The Statement of Cash Flows has been prepared under the 'Indirect Method' as set out in Ind AS 7, 'Statement of Cash Flows'.
53. Paise have been rounded off.
54. The previous period's figures have beenregrouped/reclassified wherever necessary to conform to the current period presentation.
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