11 Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is
probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.
12 Share Issue Expenses
The company made an Initial Public Offer vide ISIN CODE: INE0D2I01014 of 5,04,000 shares on SME platform of Bombay Stock Exchange of India. The IPO
offering closed on 5th September 2022 and the IPO allotment was made in the F.Y. 2022-23. The shares of the company were listed on the SME platform of
Bombay Stock Exchange of India on 13th September 2022. The share issue expenses were adjusted against the balance in the Security Premium Account as
permitted under section 52 of the Companies Act, 2013.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
For S.P BHANDARE & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN 101157W
RAJKUMAR GAJANAN KAMAT LEENA RAJKUMAR KAMAT
DIRECTOR DIRECTOR
DIN: 01157652 DIN: 02607730 S.P BHANDARE
PROPRIETOR
MEMBERSHIP NO. 35615
PLACE: PANAJI-GOA
NILAM NARESH KADKADE DEEPA AGARWAL DATED: 24th May, 2024
CHIEF FINANCIAL OFFICER COMPANY SECRETARY UDIN No. 24035615BKDHZJ6497
PLACE : PANAJI-GOA
DATED: 24th May, 2024
Note 35-Initial Public Offer
The company made an Initial Public Offer vide ISIN CODE: INE0D2I01014 of 5,04,000 shares, at a fixed price of Rs. 126/- per
share. The IPO offering closed on 5th September, 2022 and the IPO allotment was made in the F.Y. 2022-23. Shares of the
company got listed for trading on 13th September, 2022 on SME platform of Bombay Stock Exchange of India. The Company has
completed Initial Public Offer (IPO) on the SME Board of Bombay Stock Exchange of India Limited, comprising of IPO placement
of 5,04,000 fresh equity shares of the Company, listed on BSE SME Platform at an offer price of Rs. 126/- per share aggregating
to Rs.635.04 Lakhs. The disclosure relating to utilization of IPO proceeds from Fresh issue is as follows :-
38 Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
39 Corporate Social Responsibility
The Company does not meet the applicability threshold for incurring expenditure towards Corporate Social
Responsibility activities as prescribed by section 135 of the Companies Act, 2013.
40 Undisclosed income
The Company does not have any undisclosed income which is not recorded in the books of account that has been
surrendered or disclosed as income during the year (previous 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).
41 Details of Benami Property held
The Company does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.
42 Utilisation of Borrowed funds and share premium:
(i) The Company has not advanced to or loaned to or invested funds with any other person(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) 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
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(ii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) 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
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
43 Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any scheme of arrangement.
44 Compliance with number of layers of companies
The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.
45 Registration of charges or satisfaction with Registrar of Companies
The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
46 Relationship with Struck off Companies under section 248 of the Companies Act, 2013 or section 560 of Companies
Act, 1956
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,
47 Wilful Defaulter
The Company has not been declared as a wilful defaulter by any bank, financial institution or other lender.
48 Title deeds of Immovable Properties not held in name of the Company
The Company does not own any immovable property.
49 Utilisation of borrowings
The borrowings of the company have been utilised for the purpose for which they have been borrowed.
50 Loans or Advances to Related Parties
The Company has not given any loans or advances to promoters, directors, KMPs and other related parties defined
under the Companies Act, 2013.
51 Revaluation of Property, Plant and Equipment and Intangible Assets
The Company has not revalued any property, plant and equipment or intangible assets.
52 Rounding off of amounts
All the amounts (except where specifically stated otherwise) are rounded off to lakhs of rupees.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS AUDITOR'S REPORT
SIGNED IN TERMS OF OUR SEPARATE
REPORT OF EVEN DATE.
RAJKUMAR GAJANAN KAMAT LEENA RAJKUMAR KAMAT For S.P BHANDARE & ASSOCIATES
DIRECTOR DIRECTOR CHARTERED ACCOUNTANTS
DIN: 01157652 DIN: 02607730 FRN 101157W
S.P BHANDARE
NILAM NARESH KADKADE DEEPA AGARWAL PROPRIETOR
CHIEF FINANCIAL OFFICER COMPANY SECRETARY MEMBERSHIP NO. 35615
PLACE: PANAJI-GOA PLACE: PANAJI-GOA
DATED: 24th May, 2024 DATED: 24th May, 2024
UDIN No. 24035615BKDHZJ6497
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