| 1. Share Capital
(a) 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 dividend in Indian Rupees.
The dividend proposed by the Board of directors is subject to the
approval of the shareholders in ensuing Annual General Meeting. In
event of liquidation of the Company,the holders of equity shares would
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.
2. Balances of Loans and Advances, Secured Loans, Trade Payables &
Others are subject to confirmation and reconciliation.
3. In the opinion of the Board & to the best of their knowledge &
belief the value of realization of current assets, loans & advances in
the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet & the provisions for all the
loans & determined liabilities is adequate and not in excess of the
amount.
4. Provision for retirement benefits to employees was provided on
accrual basis, which is in conformity with Accounting Standard-15
issued by ICAI and the amount has not been quantified because actuarial
valuation report is not available. However, in the opinion of the
management the amount involved is negligible and has no material impact
on the Statement of Profit & Loss.
5. According to a 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 accounting standards-28 issued by the Institute
of Chartered Accountants of India.
6. The Company has not received the required information from
suppliers regarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006. Hence disclosures, if any, relating
to amounts unpaid as at the yearend together with interest paid/payable
as required under the said Act have not been made.
7. Related Party Transaction:
Related Parties and Nature of Relationship:
Related Party Nature of Relationship
Girraj Kishor Agrawal Managing Director
Zubin Jasi Pardiwala Director
Jatinkumar Chintamani Agarwal Director
Seema Sidhu Director
Ashok Lalji Vishwakarma CFO
Five X Finance & Investment Limited Group Companies
Kayaguru Capital Market Private Limited Group Companies
Rockon Capital Market Pvt. Ltd. Group Companies
Agrawal Bullion Ltd Group Companies
[Formerly Kayaguru Health Solutions Ltd]
Banas Finance Ltd. Group Companies
Rockon Fintech Ltd. GrouP Companies
Shree Nath Commercial & Finance Ltd. Group Companies
Tilak Finance Ltd. Group Companies
Handful Investrade Pvt. Ltd. Group Companies
Note: Related Parties as disclosed by the management and relied upon by
auditors
8. Segment Information (AS-17)
The Segments are identified based on the dominant sources and nature of
risks and return. Unallocated Corporate Expenses relate to the
enterprises as a whole and are not attributable to the segments.
9. The company has not appointed internal auditor required as per
section 138 of companies Act, 2013.
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