(ii) Rights, preferences and restrictions attached to shares Equity Shares:
The Company has one class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
The following person has provided personal guarantees : MrAshishkumar C Gandhi, Mr Miteshkumar C Gandhi, Mrs.Komal M Gandhi
The company has also provided the following land and building as the collateral security:
1) Immovable Property situated at bearing Plot no. 1209, Revenue survey no.150( part) and 151 (part), situated at village -Godhasar,Taluka -Vatva, Ahmedabad
2) Immovable Property situated at Flat no. SF 04,Sun Castle Complex Part 3 of land bearing survey no. 95/1 &100,TPS No.1 of FP No. 237,238, city survey no:4777, Ghatlodia, Ahmedabad
3) Immovable Property situated at Plot no. 1201 & 1202,vatva industrial area,Revenue survey no. 135 at Ghodasar, Taluka, Vatva, Ahmedabad
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(' in Lac, except for share data and if otherwise stated)
28 Contingent Liabilities and Commitments
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Particulars
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31 March 2024
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31 March 2023
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Claims against the Company not acknowledged as debt
- Income tax demands
- Indirect tax demands
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439.24
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Total
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439.24
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-
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35 Benami Transactions
There is no proceedings has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
36 Wilful Defaulter
The Company has not been declared wilful defaulter by any bank or financial institutions or other lender
37 Title deeds of Immovable Property
The title deeds of immovable properties are in the name of the company, except the lease hold premises, if any.
38 Transactions with Struck off Companies
As stated & Confirmed by the Board of Directors ,The Company has not under taken any transactions nor has outstanding balance with the Company Struck Off either under section 248 of the Act or under Section 560 of Companies act 1956.
39 Intangible Assets under Development
The company do not have any intangible assets under development , therefore disclosure related to ageing, is not applicable.
40 Satisfaction of Charge/Creation of Charge
There is no charges or satisfaction yet to be registered with ROC beyond the statutory period.
41 Undisclosed Transactions
As stated & confirmed by the Board of Directors, The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the 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.
42 Loan or Investment to Ultimate Beneficiaries
As stated & Confirmed by the Board of Directors, The Company has not advanced or loaned or invested funds to 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.
43 Loan or Investment from Ultimate Beneficiaries
As stated & Confirmed by the Board of Directors ,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
44 Number of layer 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 (Restrcition on number of layers) Rules, 2017.
45 Crypto Currency
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
46 Undisclosed Income
There is no undisclosed income, which was not disclosed by the company in earlier Financial year.
47 Security of current assets against borrowings
The company has sanctioned working capital limits in excess of Rs. 5.00 crores, in aggregate, during the year, from banks financial institutions on the basis of security of current assets. The quarterly returns and statement filed by the company with such banks or financial institutions are in agreement with the books of accounts of the company.
48 Audit Trail
The company has used an accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software.
49 Commitments and contingencies
a) Capital commitments: NIL
b) Contingencies: NIL
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