Equity Shares
The company has only one class of Equity having a par value ‘ 10.00 per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the board of directors ,if any is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in the 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.
(i) Vehicle Loan taken from HDFC Bank Limited amounting to Rs.2,100,000/- repayable in 60 installments of Rs.44,750/- staring from August 05, 2014.
(ii) Vehicle Loan taken from HDFC Bank Limited amounting to Rs.1,300,000/- repayable in 60 installments of Rs.27,720/- staring from July 05, 2014.
Sub Note : 1
i) AXIS Bank C.C. outstanding as on March 31, 2018 is secured against Hypothecation of all current assets of the company (present and future), Plant & Machinery, Furniture and Fixtures, office equipment and other class of movable assets except vehicles financed by other banks.
ii) Collateral Security by Equitable mortgage of Factory Land & Building situated at block no. 2070, Village -Santej, Taluka Kalol, District-Gandhinagar
iii) Interest rate on C.C. is 10.00% and directors have given their personal guarantee for the same.
Sub Note : 1
(i) Vehicle Loan taken from HDFC Bank Limited amounting to Rs. 2,100,000/- repayable in 60 installments of Rs. 44,750/- staring from August 05, 2014.
(ii) Vehicle Loan taken from HDFC Bank Limited amounting to Rs. 1,300,000/- repayable in 60 installments of Rs. 27,720/- staring from July 05, 2014.
Sub Note : 2
Advanced received from customer as on March 31, 2018 is taken as certified by the management. No security have been given for the same.
Sub Note : 1
Security deposit given includes deposit with Uttar Gujarat Vij Company Limited, Sabarmati Gas Limited and Torrent Power Limited.
Sub Note : 2
Deposit with government includes advances made under VAT Appeal made under Gujarat VAT Act.
Sub Note : 3
Other Advances given includes advances made to outsiders. The Interest rate is 12% p.a. and no security have been taken against the same.
Sub Note: 1
Inventories as on March 31, 2018 has been taken as certified by management. The same have been physically verified as on March 31, 2018.
Sub Note : 1
Deposit with government includes advances made under VAT Appeal made under Gujarat VAT Act.
Sub Note : 2
Other Advances given includes advances made to outsiders. The Interest rate is 12% p.a. and no security have been taken against the same.
Sub Note: 1
Advance to supplier is taken as certified by the management. No security have been given against the same.
Sub Note: 2
Prepaid expenses includes Prepaid Insurance, Memebership, Interenet etc.
1 Trade Receivables, Trade Payables, Loans & Advances, Cash on Hand has been taken at Book Value subject to confirmations and reconciliation.
2 Loans and Advances are considered good in respect of which company does not hold any security other than the personal guarantee of persons.
3 Excise Duty has not taken into account for valuation of finished goods looking at factory site in view of accounting policy. The same has no impact on statement of Profit & Loss.
4 Related Party Disclosures:
4.1 Related Parties & their Relationship
As per AS 18, the disclosures of transactions with the related parties are given below:
i) List of Related parties where control exists and related parties with whom transactions have taken place and relationships:
##Only those related party names are mentioned with whom transactions have took place during the year.
5 All assets and Liabilities are presented as Current or Non-Current as per criteria set out in Schedule - III to the Companies Act, 2013 as notified by Ministry of Corporate Affairs. Based on the nature of operation of the company and realization from the trade receivables, the company has ascertained its operating cycle of less than 12 months. Accordingly 12 months period has been considered for the purpose of Current / Non Current classification of assets and liabilities.
6 The SSI Status of the creditors is not known to the company; hence the information is not given.
7 Segment Reporting:
The Company has started the new business segment but the same is not fulfilling the requirement specified under “Reportable Segment” as per the AS-17 Segment Reporting. So the Company is not liable to disclose the same.
8 Previous year’s figures have been regrouped and rearranged wherever necessary.
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