8.3 Calls in arrears include unpaid allotment money related to Debentures which have been converted on its due date into Equity Shares as per the terms of the issue but in respect of which the Company, in exercise of its lien on such shares, has not issued the Shares Certificates to the defaulting Debenture Holders. The Company's lien on such shares will extend to the forfeiture of such shares, if considered necessary by the Company.
8.4 The Issued and Subscribed Share Capital of the Company includes 62,00,000 Equity Share of Rs. 10 Each alloted as fully paid - up without payment being received in cash pursuant to a Scheme of Amalgamation in the year 1987.
(A) Loans of Rs. 278.42 (278.42) lacs taken from NonBanking Financial Company against purchase of specific assets on hire purchase / lease are secured against those specific assets.
(B) During the year the company has repaid Rs. 693.88 lacs (Rs.759.48 lacs ) to M/s Seftech Phosphate Private Limited against Unsecured Loans taken for OTS purpose.
(C) No provision of Interest has been made on Unsecured loan, Hire Purchase/Lease Finance since the matters are under litigation.
Nature and Purpose of Other Equity
Capital Reserves :
Accumulated capital Surplus not availabe for distribution of Dividend and expected to remain invested permanently. Securities premium account :
The Unutilized accumalted excess of issue price over face value on issue of Shares.This reserve will be utilised in accordance with the provisions of the Act.
Sales Tax Deferment of Rs. 182.10 lacs which belongs to Mathura Workshop is subject to assessment to be carried out by the Sales Tax Department as per order of Trade Tax Tribunal, Allahabad and as per direction of Hon. Allahabad High Court .
13.1 Lease rent/H.P. payable of Rs. 80.00 lacs (80.00 lacs) are outstanding on account of legal cases/settlement pending from last several years.
13.2 Advance from customers includes Rs.637.34 lacs from Humboldt Wedag India Pvt. Ltd. and Rs.500 lacs from Shri Vrinda Infracon Pvt. Ltd.
14.1. The present value of the obligation of gratuity as at the balance Sheet date under such defined plan is determined based on acturial valuation as certified by the management.
14.2. Income Tax Provision for the current year has not been made as no tax is payable in view of carry forward of the of the losses and unabsorbed depreciation.
27. Segment Reporting
The Company is engaged in manufacturing and trading of Engineering equipments, Project supplies / Services for various Industries only . Hence segment reporting as defined in Ind AS 33 is not given.
27 (A) The reporting under rule 11(g) of the Companies ( Audit and Auditors) Rules 2014 is applicable from 1st April,2023.
The Company has used accounting software for maintaining its books of accounts, which have a feature of recording audit trail ( edit log) facility and the same has operated throughout the year for all relevent transactions recorded in the respective software.
28. In the opinion of the Management, current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Books of Accounts and provision for all known liabilities has been made, except as mentioned otherwise.
29. Corporate Social Responsibility
As per section 135 of the Companies Act, 2013 a CSR committee has been formed by the company. The gross amount required to be spent by the company during the year is Rs.11.60 lacs (8.51 lacs) as against this the company has spent Rs. 11.92 lacs ( 9.12 lacs) during the year.
31. Additional Disclosures :-
a) The Company do not have any benami property, where any proceeding has been initiated or pending against the company for holding any Benami property.
b) The Company is not declared as wilful defaulter by any bank or financial Institution or other lender.
c) The Company did not have any transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.
d) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
e) The Company has not traded or invested in Crypto currency or Virtual Currency during the current financial year and any of the previous financial years.
f) During the year, no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person (s) or entity (ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
g) During the year, no funds (which are material either individually or in the aggregate) have been received by the Company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
32. The figures for previous year have been regrouped/rearranged wherever necessary to make them comparable.
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