j) Provisions, Contingent Liabilities and Contingent Assets:
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate
can be made of the amount of the obligation.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects current
market assessment of time value of money and, where appropriate, the risks specific to the liability. Unwinding of the discount
is recognised in the Statement of Profit and Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted
to reflect the current best estimate.
A present obligation that arises from past events where it is either not probable that an outflow of resources will be required to
settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are also
disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company.
Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as
contingent liabilities.
Contingent assets are not recognised in financial statements since this may result in the recognition of income that may never
be realised. However, when the realization of income is virtually certain, then the related asset is not a contingent asset and is
recognised.
k) Revenue Recognition:
Effective April 1, 2018, the Company has applied Ind AS 115: Revenue from Contracts with Customers which establishes a
comprehensive framework for determining whether, how much and when revenue is to be recognised. Ind AS 115 replaces Ind
AS 18 Revenue. The impact of the adoption of the standard on the financial statements of the Company is insignificant.
a. Revenue from sale of goods is recognised when control of the goods are transferred to the customer at an amount that reflects
the consideration to which the Company expects to be entitled in exchange for those goods. The Company assesses promises
in the contract that are separate performance obligations to which a portion of transaction price is allocated.
b. Revenue is measured at fair value of the consideration received or receivable, after deduction of any trade discounts,
allowances and any taxes or duties collected on behalf of the government such as goods and services tax, etc. Accumulated
experience is used to estimate the provision for discounts, probable saleable and non-saleable return of goods from the
customers. Revenue is only recognised to the extent that it is highly probable a significant reversal will not occur.
c. Income from services rendered is recognised based on agreements/arrangements with the customers as the service is
performed and there are no unfulfilled obligations.
d. Interest income is recognised using the effective interest rate (EIR) method.
l) Lease:
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of
ownership to the lessee. All other leases are classified as Operating Leases.
Operating Lease:
Lease rentals are charged or recognised in the Statement of Profit and Loss on a straight-line basis over the lease term, except
where the payments are structured to increase in line with expected general inflation to compensate for the expected inflationary
cost increase.
m) Employee Benefit Expense:
i) Short-term Employee Benefits:
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is
provided. A liability is recognised for the amount expected to be paid e.g., under short-term cash bonus, if the Company has a
present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the amount
of obligation can be estimated reliably.
ii) Post-employment benefits:
Defined contribution plans
A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity
and will have no legal or constructive obligation to pay further amounts. The eligible employees of the Company are entitled to
receive post-employment benefits in respect of provident, in which both the employees and the Company make monthly
contributions at a specified percentage of the employees' eligible salary (currently 12% of employees' eligible salary). The
contributions are made to the Regional Provident Fund Commissioner (RPFC) which are charged to the Statement of Profit and
Loss as incurred.
Defined benefit plans
A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Company's net obligation in
respect of defined benefit plans is calculated by estimating the amount of future benefit that employees have earned in the current
and prior periods, discounting that amount and deducting the fair value of any plan assets.
The calculation of defined benefit obligation is performed annually by a qualified actuary using the projected unit credit method.
When the calculation results in a potential asset for the Company, the recognised asset is limited to the present value of economic
benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan (‘the asset ceiling').
In order to calculate the present value of economic benefits, consideration is given to any minimum funding requirements.
Remeasurements of the net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding
interest) and the effect of the asset ceiling (if any, excluding interest), are recognised in Other Comprehensive Income. The
Company determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the
discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net defined benefit
liability (asset), taking into account any changes in the net defined benefit liability (asset) during the period as a result of contributions
and benefit payments. Net interest expense and other expenses related to defined benefit plans are recognised in Statement of
Profit and Loss.
Gratuity
The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides
a lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount
equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Vesting occurs
upon completion of five years of service. The Company has obtained insurance policies with the Life Insurance Corporation of
India (LIC) and makes an annual contribution to LIC for amounts notified by LIC. The Company accounts for gratuity benefits payable
in future based on an independent external actuarial valuation carried out at the end of the year using the projected unit credit
method. Actuarial gains and losses are recognised as Other Comprehensive Income.
iii) Other Long-term employee benefits - Compensated Absences:
The Company provides for encashment of leave or leave with pay subject to certain rules. The employees are entitled to accumulate
leave subject to certain limits for future encashment / availment. The Company makes provision for compensated absences based
on an independent actuarial valuation carried out at the end of the year. Actuarial gains and losses are recognised in the Statement
of Profit and Loss.
n) Income Taxes:
Income tax comprises of current and deferred tax. It is recognised in Statement of Profit and Loss except to the extent that it
relates to a business combination or to an item recognised directly in Equity or in Other Comprehensive Income.
Current tax
Current tax comprises expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the
tax payable or receivable in respect of previous years. The amount of current tax reflects the best estimate of the tax amount
expected to be paid or received after considering the uncertainty, if any, related to income taxes. It is measured using tax rates
(and tax laws) enacted or substantively enacted by the reporting date.
Deferred tax
Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial
reporting purposes and the corresponding amounts used for taxation purposes. Deferred tax is also recognised in respect of carried
forward tax losses and tax credits.
Deferred tax is not recognised for:
i. temporary differences arising on the initial recognition of assets or liabilities in a transaction that is not a business combination
and that affects neither accounting nor taxable profit or loss at the time of the transaction;
ii. taxable temporary differences arising on the initial recognition of goodwill.
Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which they
can be used. The existence of unused tax losses is strong evidence that future taxable profit may not be available. Therefore,
in case of a history of recent losses, the Company recognises a deferred tax asset only to the extent that it has sufficient taxable
temporary differences or there is convincing other evidence that sufficient taxable profit will be available against which such deferred
tax asset can be realised. Deferred tax assets - unrecognised or recognised, are reviewed at each reporting date and are
recognised/ reduced to the extent that it is probable / no longer probable respectively that the related tax benefit will be realised.
Deferred tax is measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is
settled, based on the laws that have been enacted or substantively enacted by the reporting date.
The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects,
at the reporting date, to recover or settle the carrying amount of its assets and liabilities.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and
they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend
to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously.
0) Foreign Currency Transactions:
Foreign currency transactions are recorded at exchange rate prevailing on the date of the transaction. Foreign currency
denominated monetary assets and liabilities are restated into the functional currency using exchange rates prevailing on the Balance
sheet date. Gains and losses arising on settlement and restatement of foreign currency denominated monetary assets and liabilities
are recognised in the statement of profit and loss. Non-monetary items carried at fair value that are denominated in foreign
currencies are translated at the rates prevailing at the date when the fair value was determined.
Non-Monetary items that are measured in terms of historical cost in a foreign currency are translated using exchange rate as
at the date of initial transactions.
p) Earnings Per Share:
The Company calculates earnings per share amounts for profit or loss attributable to ordinary equity shareholders.
The basic Earnings Per Share (“EPS”) is computed by dividing the net profit / (loss) after tax for the year attributable to the equity
shareholders by the weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, net profit/(loss) after tax for the year attributable to the equity shareholders
and the weighted average number of equity shares outstanding during the year are adjusted for the effects of all dilutive potential
equity shares.
q) Financial Instruments:
1) Recognition and Initial Measurement
Trade receivables and debt securities issued are initially recognised when they are originated. All other financial assets and financial
liabilities are initially recognised when the Company becomes a party to the contractual provisions of the instrument.
A financial asset or financial liability is initially measured at fair value plus, for an item not at Fair Value through Profit and Loss
(FVTPL), transaction costs that are directly attributable to its acquisition or issue.
ii) Classification and Subsequent Measurement
Financial assets
On initial recognition, a financial asset is classified as measured at
— Amortised cost;
— Fair Value through Other Comprehensive Income (FVOCI) - debt investment;
— Fair Value through Other Comprehensive Income - equity investment; or
— FVTPL
Financial assets are not reclassified subsequent to their initial recognition, except if and in the period the Company changes its
business model for managing financial assets.
A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:
— the asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and
— the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.
A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL:
— the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling
financial assets; and
— the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.
On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent
changes in the investment's fair value in OCI (designated as FVOCI - equity investment). This election is made on an investment-
by-investment basis.
All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. This
includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise
meets the requirements to be measured at amortised cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces
an accounting mismatch that would otherwise arise.
Financial liabilities: Classification, subsequent measurement and gains and losses
Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability is classified as at FVTPL if it is
classified as held for trading, or it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are
measured at fair value and net gains and losses, including any interest expense, are recognised in Statement of Profit and Loss.
Other financial liabilities are subsequently measured at amortised cost using the effective interest method. Interest expense and
foreign exchange gains and losses are recognised in Standalone Statement of Profit and Loss. Any gain or loss on derecognition
is also recognised in Statement of Profit and Loss.
iii) De-recognition
Financial assets
The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it
transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of
ownership of the financial asset are transferred or in which the Company neither transfers not retains substantially all of the risks
and rewards of ownership but does not retain control of the financial asset.
If the Company enters into transactions whereby it transfers assets recognized on its balance sheet, but retains either all or
substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognized.
Financial liabilities
The Company derecognises a financial liability when its contractual obligations are discharged or cancelled, or expired.
The Company also derecognises a financial liability when it terms are modified and the cash flow under the modified terms are
substantially different. In this case, a new financial liability based on the modified terms is recognised at fair value. The difference
between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognised
in profit or loss.
iv) Off setting
Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and only when, the
Company currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or
to realise the asset and settle the liability simultaneously.
Equity Instrument
Equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into
and the definitions of an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets
of the Company after deducting all of its liabilities and includes no obligation to deliver cash or other financial assets.
Measurement of fair values
The Company’s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial
assets and liabilities.
The Company has an established control framework with respect to the measurement of fair values. The Company regularly reviews
significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services,
is used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the conclusion
that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the valuations should
be classified.
Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as
follows:
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices)
or indirectly (i.e. derived from prices).
Level 3: inputs for asset or liability that are not based on observable market data (unobservable inputs).
When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. If the inputs
used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value
measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant
to the entire measurement.
The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the
change has occurred.
r) Cash and cash equivalents
Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand that are readily convertible into cash which
are subject to insignificant risk of changes in value and are held for the purpose of meeting short-term cash commitments.
s) Segment Reporting - Identification of Segments:
An operating segment is a component of the Company that engages in business activities from which it may earn revenues and
incur expenses, whose operating results are regularly reviewed by the company’s management to make decisions for which
discrete financial information is available.
Based on the management approach as defined in Ind AS 108, the management evaluates the Company’s performance and
allocates resources based on an analysis of various performance indicators by business segments and geographic segments.
Terms/rights attached to the Equity Shares
The Company has only one class of equity shares having at 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 the 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,
after distribution to all preferential holders. The distribution will be in proportion to the number of equity shares held by the
shareholders.
NOTES — Contd.
Description of nature and purpose of each reserve
Capital Reserve
Capital reserve represents amount received from Government of Karnataka.
Export Profit Reserve
Export profit reserve represents the amount earned from export sales and is to be utilised for the purpose of exports.
Capital Redemption Reserve
Capital Redemption Reserve has been created out of free reserves of the Company on account of redemption of preference shares.
General Reserve
The general reserve is used from time to time to transfer profits from retained earnings for appropriation purposes. There is no
policy of regular transfer.
Retained Earnings
Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other
distributions paid to shareholders.
(D) Impact of IND AS adjustments on Tax computation:
1. Section 5 of the Income Tax Act states that profits are chargeable only when they accrue, arise or are received. Based on
this provision of the Income Tax Act, it is a settled proposition that tax can be levied on real income and not on any hypothetical
or illusionary income - Shoorji vallabhdas & Co - (1962) 46 ITR 144 (SC) and Godhra Electricity Co. Ltd. - (1997) 225
ITR 746 (SC). These principles have been reiterated in ICDS-IV for revenue recognition under the Income Tax Act.
2. Under IND-AS accounting framework, there are certain mandatory adjustments to incomes and expenditures, which are only
conceptual and do not reflect real income/expenditure as per prevailing provisions of the Income Tax Act.
(E) Other Disclosure:
During the year, the Company has not surrendered or disclosed any income 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). Accordingly, there are no
transactions which are not recorded in the books of accounts.
NOTE 33 — EMPLOYEE BENEFITS
a. Defined Benefit Plans:
Gratuity:
The gratuity payable to employees is based on the employee's service and last drawn salary at the time of leaving the services
of the Company and is in accordance with the rules of the Company for payment of gratuity.
Inherent Risk on above:
The plan is defined in nature which is sponsored by the Company and hence it underwrites all the risks pertaining to the plan.
In particular, this exposes the Company to actuarial risk such as adverse salary growth, change in demographic experience,
inadequate return on underlying plan assets. This may result in an increase in cost of providing these benefits to the employees
in future. Since the benefits are lump sum in nature, the plan is not subject to any longevity risk.
Basis used to determine Expected Rate of Return on Plan Assets: The overall expected rate of return on assets is based
on the expectation of the average long term rate of return expected on investments of the fund during the estimated term of the
obligations.
Salary Escalation Rate: The past experience and industry practice considering promotion and demand and supply of employees.
Asset Liability matching strategy: The money contributed by the Company to the Gratuity fund to finance the liabilities of the
plan has to be invested.
The trustees of the plan have outsourced the investment management of the fund to an insurance Company. The insurance
Company in turn manages these funds as per the mandate provided to them by the trustees and the asset allocation which is
within the permissible limits prescribed in the insurance regulations. Due to the restrictions in the type of investments that can be
held by the fund, it is not possible to explicitly follow an asset liability matching strategy.
There is no compulsion on the part of the Company to fully prefund the liability of the Plan. The Company’s philosophy is to fund
these benefits based on its own liquidity and the level of underfunding of the plan.
Carrying amount of Investment, Trade Receivables, Cash and Cash Equivalent, Bank balances, Other financial assets, Trade
payables and Other financial liabilities as at March 31, 2026, and March 31, 2025 approximate the fair value because of their short
term nature. Difference between carrying amount and fair values of bank deposits, other financial assets, other financial liabilities
and borrowings subsequenty measured at amortised cost is not significant in each of years presented.
NOTE 36 — FAIR VALUE MEASUREMENT
The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in
a current transaction between willing parties, other than in a forced or liquidation sale.
The Company has established the following fair value hierarchy that categorizes the values into 3 levels. The inputs to valuation
techniques used to measure fair value of financial instruments are:
Level 1: This hierarchy uses quoted (unadjusted) prices in active markets for identical assets or liabilities.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques
which maximize the use of observable market data and rely as little as possible on company specific estimates.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3.
The management assessed that cash and bank balances, trade payables, and other financial asset and liabilities approximate their
carrying amounts largely due to the short-term maturities of these instruments.
NOTE 37 — FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Company’s principal financial assets include Investments, Loans and Other receivables, Cash and Cash Equivalents, Other
Bank Balances that directly derive from its operations.
The Company is exposed to Market Risk, Credit Risk and Liquidity Risk. The Company’s senior management oversees the
management of these risks. The Company’s senior management ensures that the Company’s financial risk activities are governed
by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the
Company’s policies and risk objectives.
(A) Market Risk:
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of
a financial instrument.
The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates,
equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk
sensitive financial instruments including investments and deposits, foreign currency receivables, payables and borrowings.
(1) Foreign Currency Risk:
Foreign currency risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency, which
fluctuate due to changes in foreign exchange rates.
(2) Interest Rate Risk:
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
market interest rates. The Company’s doesnot have exposure to this risk since no borrowing.
(B) Credit Risk:
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to
a financial loss. The Company is exposed to credit risk from its operating (primarily Trade Receivables), investing and financing
activities including Bank Balance, Deposits with Bank, Security Deposits, Loans to Employees and other financial instruments.
Trade receivables are consisting of a large number of customers. The Company has credit evaluation policy for each customer
and based on the evaluation credit limit of each customer is defined.
Trade receivables are typically unsecured and are derived from revenue earned from customers. Credit risk has always been
managed by the Company through credit approvals, establishing credit limits and continuously monitoring the credit worthiness
of customers to which the Company grants credit terms in the normal course of business. The company allows credit period ranging
from 30 days to 180 days, subject to reasonableness of the receivable. There is no concentration of customers and receivable
amount.
Investments, Cash and Cash Equivalent and Bank Deposit:
Credit Risk on cash and cash equivalent is generally low, as the said deposits have been made with the banks/financial institutions
who have been assigned high credit rating by international and domestic rating agencies.
Investments of surplus funds are made only based on Investment Policy of the Company. Investments consists of Investments
in Subsidiaries & Investment in Short Term liquid Mutual Funds.
(C) Liquidity Risk:
Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable
price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding
through an adequate amount of credit facilities to meet obligations when due. The Company’s treasury team is responsible for
liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior
management. Management monitors the Company’s liquidity position through rolling forecasts on the basis of expected cash flows.
The Company’s objectives when managing capital are to
(a) maximise shareholder value and provide benefits to other stakeholders and
(b) maintain an optimal capital structure to reduce the cost of capital.
For the purposes of the Company’s capital management, capital includes issued capital, share premium and all other equity reserves
attributable to the equity holders.
The Company monitors capital using debt-equity ratio, which is total debt less investments divided by total equity.
Ministry of Corporate Affairs (“MCA”) notifies new standard or amendments to the existing standards under Companies (Indian
Accounting Standards) Rules as issued from time to time. During FY 2025-26, MCA has notified several amendments to the
Companies (Indian Accounting Standards) Amendment, Rules, including the Ind AS 1 (Presentation of Financial Statements), Ind
AS 12 (Income Taxes) - Global Minimum Tax, Ind AS 7 & Ind AS 107 (Supplier Finance Arrangements), Ind AS 21 (Effects of
Changes in Foreign Exchange Rates), Ind AS 117 (Insurance Contracts). These amendments do not have any significant impact
on the financial statements.
NOTE 41 — SEGMENT INFORMATION
The Company operates only in one primary business segment i.e. trading of goods.
NOTE 42 — SUBSEQUENT EVENTS
Dividends paid during the year ended March 31, 2026 includes an amount of Rs.12.50/- per equity share towards final dividend
for the year ended March 31, 2025.
Dividends declared by the Company are based on the profit available for distribution. Distribution of dividends out of general reserve
and retained earnings is subject to applicable Tax Deducted at Source. On 15.05.2026, the Board of Directors of the Company
have proposed a final dividend of Rs.13/- per share in respect of the year ended March 31, 2026 subject to the approval of
shareholders at the Annual General Meeting. The proposal is subject to the approval of shareholders at the Annual General Meeting,
and if approved, would result in a cash outflow of approximately Rs.335.94/- Lacs.
NOTE 43 — CORPORATE SOCIAL RESPONSIBILITY
The company is not covered under section 135 of the Companies Act as its net profit is less than Rs.5 Crores during the
immediately preceding financial year as per section 135 of the Companies Act.
NOTE 44 — OTHER DISCLOSURES
There are no transactions to report against the following disclosure requirements as notified by MCA pursuant to amended
Schedule III:
(a) Crypto Currency or Virtual Currency
(b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder
(c) Registration of charges or satisfaction with Registrar of Companies
(d) the company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or
section 560 of Companies Act, 1956
(e) Relating to borrowed funds:
(i) Wilful defaulter
(ii) Utilisation of borrowed funds & share premium
(iii) Borrowings obtained on the basis of security of current assets
(iv) Discrepancy in utilisation of borrowings
(v) Current maturity of long term borrowings
NOTE 45 — PREVIOUS YEAR’S COMPARABLES
Previous year’s figures have been regrouped/reclassified wherever necessary, to confirm with current years classification/
disclosure.
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