3.1. The company has sold 75.76 Hectares of Agricultural Land situated in various Gut Numbers Dhangaon and Shahapur - Wahegoan Tq Paithan Dist Aurangabad to Nath Bio-genes (India) Ltd, a related party in the previous years: however, land registery in the name of buyer Company with the Sub-Registrar is still pending.
3.2. Standing Crop- Mango Trees are additionally revalued by Rs. NIL (Previous year Rs. 1.68 Lakhs) on account of their growth as considered expedient by the Management.
3.3 The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) or its intengible assets during the year.
3.4 The reduction is due to plough down of Mango Trees over 27 Acres being untenable.
3.5 Land situated at various gut numbers, admeasuring 5.33 H in Wahegaon Taluka Paithan, Distt. Chhatrapati Sambhajinagar MH are mortgaged as collateral security for securing term loan aggregating to Rs. 3000.00 Lakhs granted to Paithan Mega Food Parks Pvt Ltd, a related party.
3.6 Land situated at various gut numbers, admeasuring 16.55 H in Dhangaon Taluka Paithan, Distt. Chhatrapati Sambhajinagar MH are mortgaged as collateral security for securing cash credit limit aggregating to Rs. 1360.00 Lakhs granted to Paithan Mega Food Parks Pvt Ltd, a related party.
3.7 There is no Capital work in progress as at 31.03.2025
9.1 The Company has filed a petition with the National Company Law Tribunal (NCLT), Mumbai Bench, for the recovery ofa loan amounting to ?6,439.18 Lakhs, along with the applicable interest, extended to TechIndia Limited, a related party. The NCLT, via its order dated January 2, 2025, has admitted the petition and appointed a Resolution Professional (RP) to initiate the Corporate Insolvency Resolution Process (CIRP) against TechIndia Limited.
Pursuant to the initiation of CIRP, the Company has submitted its claim in Form C before the Resolution Professional, amounting to Rs. 8,941.13 Lakhs, including interest of Rs. 2,505.20 Lakhs. The said interest has not been accounted for in the books of account due to uncertainty regarding its recoverability.
9.2 No provision has been made for Interest amounting to Rs. 1,376.76 for the year year (Previous year Rs. 965.80) on loans and business advances given to related parties as considered appropriate by the management, interalia, considering long term business exigencies/ purposes.
12. (b) Rights, Preferences and Restrictions attached to Shares
TheCompany has one classofequity shares having a parvalueofRs. 10 per share. Equity shareholder is eligibleforone vote pershare held. They are eligiblefordividend on the basis of their shareholding. In the case of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, if any, in proportion to their shareholding.
24 Fair Value Measurement
The management assessed that the fair values of short term financial assets and liabilities significantly approximate their carrying amounts largely due to the short term maturities of these instruments. The fair value of financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction among willing parties, other than in a forced or liquidation sale
The Company determines fair values of long term financial assets and financial liabilities by discounting contractual cash inflows/ outflows using prevailing interest rates of financial instruments with similar terms. The fair value of investment is determined using quoted net assets value from the fund. Further, the subsequent measurement of all finance assets and liabilities (other than investment in mutual funds) is at amortized cost, using the effective interest method.
Discount rates used in determining fair value
The interest rate used to discount estimated future cash flows, where applicable, are based on the incremental borrowing rate of the borrower which in case of financial liabilities is the weighted average cost of borrowing of the Company and in case of financial assets is the average market rate of similar credits rated instrument.
The Company maintains policies and procedures to value financial assets or financial liabilities using the best and most relevant data available. In addition, the Company internally reviews valuation, including independent price validation for certain instruments.
Fair value hierarchy
All financial instruments for which fair value is recognized or disclosed are categorized within the fair value hierarchy described as follows, based on the lowest level input that is significant to the fair value measurement as a whole.
Level -1
Quoted (unadjusted) price is active market for identical assets or liabilities Level 2:
Valuation technique for which the lowest level input that has a significant effect on the fair value measurement are observed, either directly or indirectly.
Level 3
Valuation technique for which the lowest level input has a significant effect on the fair value measurement is not based on observation market data.
25 Financial Instruments and Risk Review
i) Capital Management
The Company's capital management objectives are:-
The Board policy is to maintain a strong capital base so as to maintain inventor, creditors and market confidence and to future development of the business. The Board of Directors monitors return on capital employed.
The Company manages capital risk by maintaining sound/optimal capital structure through monitoring of financial ratios, such as debt-to-equity ratio and net borrowings-to-equity ratio on a monthly basis and implements capital structure improvement plan when necessary.
The Company uses debt ratio as a capital management index and calculates the ratio as Net debt divided by total equity. Net debt and total equity are based on the amounts stated in the financial statements.
* Net Debts includes Non-Current borrowings, Current borrowings, Current Maturities of non current borrowing net off Current Investment and cash and cash equivalent
** Equity includes equity and others equity.
ii) Credit Risk
Credit risk is the risk of financial loss arising from counter-party failure to repay or service debt according to contractual terms or obligations. Credit risk encompasses both, the direct risk of default and the risk of deterioration of credit worthiness as well as concentration of risks. Credit risk is controlled by analysing credit limit and creditworthiness of customers on a continuous basis to whom the credit has been granted offer necessary approvals for credit.
Financial instruments that are subject to concentration of credit risk principally consists of trade receivable investments, derivative financial instruments and other financial assets. None of the financial instruments of the Company results in material concentration of credit risk
Exposure to credit risk
The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk is as under, being the total of the carrying amount of balances with trade receivables.
As on Rs in Lakhs
31st March, 2025 2.43
31st March, 2024 NIL
Trade receivables
Ind AS requires expected credit losses to be measured through a loss allowance. The Company assesses at each date of financial statement whether a financial asset or group of financial assets is impaired. The Company recognizes lifetime expected losses for all contract assets and / or all trade receivables that do not constitute a financing transaction. For all other financial assets, expected credit losses are measured at an amount equal to 12 months expected credit losses or at an amount equal to the life time expected credit losses, if the credit risk on the financial asset has increased significantly since initial recognition
Before accenting any new customer, the Company uses an external/internal credit scoring system to asses potential customer's credit quality and defines credit limits by customer. Limits and scoring attributed to customer are reviewed periodic basis
iii) Liquidity Risk
a) Liquidity risk management
Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.
b) Maturities of financial liabilities
The following tables detail the remaining contractual maturities for its financial liabilities with agreed repayment period. The amount disclosed in the tables have been drawn up based on the undiscounted cash flow of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both interest and principal cash flows.
c) Maturities of financial assets
The expected maturity for financial assets of the company are all current.
iv) Market Risk
Market risk is risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in the market prices. Such changes in the value of financial instruments may result from changes in the foreign currency exchange rate, interest rate, credit, liquidity and other market changes.
28 In the opinion of the Board, Current Assets, Loans and advances are approximately of the value stated, if realized in the ordinary course of business.
29 a) The Company's income being agricultural income, the Company does not expect any liability for income tax.
b) In view of agriculture income being earned by the Company which is exempt from levy of Income Tax; despite being carried forward losses and unabsorbed depreciation, no deferred tax assets have been recognized as a matter of prudence.
30 The Company has single reportable segment namely Farming Activity for the purpose of Indian Accounting Standard 108 on Operating Segment , therefore, the information related to Segmental Reporting has not been provided.
31 In the opinion of the Board, fixed assets have been stated at cost, which is at least equal to or less than the realizable value if sold in the ordinary course ofbusiness. Consequently, the management is of the opinion that there is no impairment of assets.
32 CAPITAL MANAGMENT
Equity share capital and other equity are considered for the purpose of Company’s capital management. The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders. The capital structure of the Company is based on management’s judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market confidence. The management and the Board ofDirectors monitors the return on capital as well as the level of dividends to shareholders. The Company may take appropriate steps in order to maintain or if necessary adjust its capital structure
33 Related party disclosure as per Indian Accounting Standard 24:
(a) List of Related Parties
1) TechIndia Nirman Ltd
2) Nath Bio-Genes (India) Ltd.
3) Nath Biotechnologies Ltd
4) Paithan Mega Food Park Pvt. Ltd.
5) Tapovan Farms LLP
(b) Key Management personnel
(1) Mrs. Shweta Kagliwal, Managing Director
(2) Mr Rajendra Sharma, Chief Financial Officer
(3) Ms Reshma Talbani, Company Secretary
43 Details of Benami Property held - No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
44 Wilful Defaulter - The company is not declared wilful defaulter by any bank or financial Institution or other lender during the year.
45 Relationship with Struck off Companies - During the year, the company has not carried out any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956,
47 Utilisation of Borrowed funds and share premium: The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) 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 (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
48 Registration of charges or satisfaction with Registrar of Companies - No charge is required to be registered / satisified during the year with with Registrar of Companies.
49 Undisclosed income - There is no case of search or survey of any other cases related to income surrendered or disclosed in any tax assessments under the Income
Tax Act, 1961.
50 The company has not fulfiled the criteria of Corporate Social Responsibility (CSR) as specified in Section 135 of the Companies Act, 2013._
51 The company has not invested in Crypto Currency or Virtual Currency, hence related details are not provided_
52 Previous year’s figures have been regrouped / rearranged wherever necessary to conform to the current year’s presentation._
Signatures to Notes “1" to “52" forming part of these Financial Statements.
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