2.1 Vehicles owned by the Company includes registered in the name of the Directors.
2.2 The Factory Gala No. 12,13,14,16 and 42 at Asangaon has been revalued at fair market value as on 01.04.2011 amounting to Rs.60,07,500/- as per the valuation report of an independent govt. approved valuers. Correspondingly revaluation reserve is created to the extent of Rs. 36,93,762/- and Net block of assets has been increased to that extent.
iii) TERMS AND 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 dividends in Indian rupees. The dividend proposed by Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company. The distribution will be in proportion to the number of equity shares held by the shareholders.
% Change in the Shareholding During the Year:
There has been no change in the Number of Shares held by the above mentioned Shareholders during the year, however there is a change in the % due to increase in the paid-Up Capital
Pursuant to the approval of the Board of Directors in its meeting held on 14th August, 2024 along with the approval of the Shareholders at the Annual General Meeting held on 11th September, 2024 and pursuant to the In-Principle Approval granted by the BSE vide its respective letter dated 23rd September, 2024 and on receipt of an aggregate amount of Rs.49,75,00,000 (Rupees Forty Nine Crores Seventy Five Lakhs Only), the Board of Directors along with the approval of the Audit Committee has approved the Preferential Allotment of 23,00,000 (Twenty Three Lakhs Only) Equity Shares of Rs.200/- (Rupees Two Hundred Only) each and 7,50,000 (Seven Lakhs Fifty Thousand Only ) Compulsorily Convertible Warrants of Rs.200/- (Rupees Two Hundred Only) each to both Promoter as well as Non-Promoter Person/entities.
The Allotment of the Shares was made on 01st October, 2024
The Equity Shares issued by the Company are Fully Paid Equity Shares whereas the Compulsorily Convertible Warrants are partly paid and would be converted into Equity Shares after 18 months on the payment of the remaining amount.
• In respect of Contingent Liability related to CKP bank shares , the same has been disclosed because the bank has stopped its main operations as per RBI instructions.
• The Joint Commissioner CGST ,Thane in the order dated 30.03.2024 had imposed an penalty amounting to 7,89,90,324/- against the earlier show cause Notice issued in F.Y 2022-23 .Further the company had filed an appeal which was in favour of company hereby dropping tax and interest from the said notice However the management is against the order and looking forward to file the appeal & will litigate the same until the matter attains finality.
38.
i) The balance confirmation in respect of debtors, creditors, advances, loans and deposits as at 31st March 2025 have been called for and the same are subject to confirmation and reconciliation if any. However, the management has scrutinized the accounts and the balances appearing in the balance sheet are correct.
ii) In the opinion of management, no item of current assets, loans and advances has a value on realization in the ordinary course of business, which is less than the amount of value at which it is stated in the balance sheet, unless otherwise specified.
39. Figures of previous year are regrouped and reclassified as and when necessary.
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