Terms/rights attached to shares:
The Equity shares have a face value of Rs 10 per share. Each holder of share is entitled to one vote per share. In the event of liquidation of company all shareholders will be entitled to receive remaining assets of the company after distribution of all preferential amounts in proportion to the shares held by them.
# The Company has obtained term loan from HDFC Bank for purchase of Plant and Machinery having sanction limit of Rs 5.00 Crores repayable within a period of 7 years including moratorium of 1 year with rate of interest of Repo Rate 3.75% p.a. The term loan is primarily secured against Factory land & building owned by Siddhi Vinayak Polyfab Pvt Ltd located at Palsana, Surat and Plant and Machinery by way of hypothecation of stock and book debts and has collateral security on the current assets of the company by way of hypothecation of stock and book debts.
**Loan from Related Parties and others represent interest bearing loans received by the Company, which has been obtained for business purposes and repayable on demand with rate of interest ranging from 6% to 12%
Terms & conditions of term loan facility borrowed from HDFC Bank are as follows (the term loan was sanctioned on 24/02/2026; however, disbursement thereof was pending as at the reporting date) :
1 Sanctioned Limit: The Company has availed term loan facility from HDFC Bank with a sanctioned limit of ? 22.70 Crore, for the purpose of construction of factory building and plant & machinery.
2 Tenor: 96 Months including 18 Months moratorium.
3 Security: The facility is secured as follows -
Current Assets: Exclusive charge on the current assets of the company, both present & future, by the way of hypothecation of stock & book debts.
Plant and Machinery: Exclusive charge on the movable fixed assets of the company, both present & future.
Factory Land and Building: Exclusive charge on the immovable assets of the company, both present & future, by the way of Equitable Mortgage of the factory Land & Building located at Block No. 186 Paiki 1&2, Nr. Mindhola Foods LLP, Makhinga, Palsana - Surat. 394315, in the name of Siddhi Vinayak Polyfab Pvt Ltd. (This property is also cross collateralized for the exposure of Siddhi Vinayak Knots & Prints Pvt Ltd)
Corporate Guarantee: Corporate guarantee of Siddhi Vinayak Polyfab Private Limited
Personal Guarantees: The facility is additionally secured by the personal guarantees of the directors/promoters of the Company, i.e. (A) Sanjay Sarawagi (B) Manoj Sarawagi (C) Rakesh Sarawagi.
4 Rate of Interest: 8.60% p.a. Repo 335 bps 3M
*Terms & conditions of cash credit facilities borrowed from HDFC Bank are as follows:
1 Sanctioned Limit: The Company has availed Cash Credit (C.C.) facilities from HDFC Bank with a sanctioned limit of ? 15 Crore. Within this limit, sub-limits have been sanctioned for a secured Bank Guarantee (B.G.) facility of ? 10 Crore and a secured Letter of Credit (L.C.) facility of ? 10 Crore.
2 Tenor: C.C.: Repayable on demand | B.G.: 3 Years | L.C.: upto 180 days
3 Security: The facility is secured as follows -
Current Assets: Exclusive charge on the current assets ofthe company, both present & future, by the way of hypothecation of stock & book debts.
Plant and Machinery: Exclusive charge on the movable fixed assets of the company, both present & future.
Factory Land and Building: Exclusive charge on the immovable assets ofthe company, both present & future, by the way of Equitable Mortgage ofthe factory Land & Building located at Block No. 186 Paiki 1&2, Nr. Mindhola Foods LLP, Makhinga, Palsana - Surat. 394315, in the name of Siddhi Vinayak Polyfab Pvt Ltd. (This property is also cross collateralized for the exposure of Siddhi Vinayak Knots & Prints Pvt Ltd)
Corporate Guarantee: Corporate guarantee of Siddhi Vinayak Polyfab Private Limited
Personal Guarantees: The facility is additionally secured by the personal guarantees of the directors/promoters of the Company, i.e. (A) Sanjay Sarawagi (B) Manoj Sarawagi (C) Rakesh Sarawagi.
Note:
(i) Fixed deposit amounting to ?29.48 Lakh (?49.58 Lakh in previous year) has been placed with the bank as margin money against the Bank Guarantee facility of ?29.48 Lakh (?48.97 Lakh in previous year).
(ii) Fixed deposit amounting to ? NIL (?32.76 Lakh in previous year) has been placed with the bank as margin money against the Letter of Credit facility of ? NIL (?310.59 Lakh in previous year).
These fixed deposits are lien-marked in favour of the respective banks and are not freely available for use by the Company.
NOTE 27
Additional Regulatory Information
a. The Company does not have any benami property, where any proceeding has been initiated or pending against the Company for holding any Benami Property.
b. The Company does not have any transactions with companies struck off.
c. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
d. The Company have not traded or invest in Crypto currency or Virtual currency during the financial year.
e. The Company have not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:
(i) 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
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
f. The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding party) with the understanding (whether recorded in writing or otherewise) that the Company shall:
(i) 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
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
g. The Company does not have any such tranasaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessment under the Income Tax Act, 1961 (such as,
search or survey or any other relevent provisions of the Income Tax Act, 1961).
h. The Company has not been declared as Wilful defaulter by the Banks, Financial institution or other lenders.
i. The Company has not revalued its Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year.
j. The Title deeds of all the immovable properties owned and disclosed (other than properties where the Company is the
lessee and the lease agreements are duly executed in favour of the lesseee) in this financial statements are held in the
name of the Company.
k. The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.
l. The Company has not entered into any scheme of arrangement which has an accounting impact on the current and previous financial year.
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