Terms / Rights attached to Equity Capital
The Company has only one class of Equity Shares having par value of Rs. 10.00 per Share. Members of the Company holding Equity Shares therein have a right to vote, on every Resolution placed before the Companyand right to received the Dividend. The voting rights on a poll is in proportion to the Share of the paid up Equity Capital of the Company held by the Shareholders.
24.1 Disclosure pursuant to Accounting Standard (AS) 15 Revised "Employees Benefits"
i) Defined Contribution Plans
Amount of Rs. 412.65 Lacs (Previous Year Rs. 221.51 Lacs) is recognised as an Expense and included in Employee Benefit Expenses in the Statement of Profit & Loss.
ii) Defined Contribution Plans (Gratuity)
Gratuity and Leave encashment liability is not provided for, as this will be accounted for on Cash payment basis.
24.2 Segment Reporting: Accounting Standard-17
The Company operates mainly in the business segment of manuafacturing of Acoustic Enclosures, Acoustic Wooden Partion and Acoustic Chambers. Further, all activities are carried out within India. As such, there are no separate reportable segments as per the provisions of Accounting Standard (AS) 17 on 'Segment Reporting'.
24.3 The Company has used accounting software’s for maintaining its books of account for the financial year ended March 31,2024 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded
24.6 Contingent Liabilities not provided for:
Securities provided to Yes bank Ltd. by creating Equitable Mortgage on Factory Land & Building of the Company situated at 12, Mahila Udyami Park, Ecotech-lll, Greater Noida, U.P.-201306 against Bank Guarantee facility of Rs. 116.00 Lacs extended to the Company.
Therefore,contigent liability in the form of Bank gaurentee as on end of 31 march 2024 is Rs 61,09,734/-.
24.7 Preferincial & Bonus Issue of Equity shares was made by the Company during the Financial Year 2023-24. n.8 Provision for Income Tax has been made in accordance with provisions of Income Tax Act, 1961.
24.9 Previous year figures has been regrouped/reclassified whereever necessary.
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