19.1 Rights, Preferences and Restrictions Attached to Equity Shares:
The Company has one class of equity shares having a par value of J 10/- each. However in the preceding period company had two class of equity shares having a par value of J 10/- each (i) Equity shares with normal voting rights and (ii) Equity Shares with Differential voting rights. Every share holder holding shares with normal voting rights had on a show of hands or on a poll, 1 vote for every 1 share held by them and Every share holder holding shares with differential voting rights had on a show of hands or on a poll, 1 vote for every 100 shares held by them.
19.2
Pursuant to the approval of NSE vide letter No. NSE/LIST/34624, dated 16th March 2023 and also approval of Shareholders of the Company at the Extra Ordinary General Meeting held on 24th March, 2023 and on the receipt of J 1,391.00 Lakhs, being 25% of issue price / subscription money, the Board of Directors of the Company allotted 52,00,000 Convertible Warrants at an issue price of J 107/- per warrant, aggregating to J 5,564.00 Lakhs by way of preferential allotment to Promoters, Persons belonging to Promoters' Group and Person other than promoters and Persons belonging to Promoters' Group of the Company. In terms of allotment of such warrants, warrants shall be convertible into equal number of fully paid-up Equity Shares of J 10/- (at a premium of J 97/-) each, at an option of the Warrant Holders, at any time in one or more tranches, within 18 (Eighteen) months from the date of allotment of warrants on payment of balance 75% amount due on such warrants, and to issue fresh Equity Shares on conversion of Warrants to the Allottees.
19.3
As on 21st March, 2024, the Company has issued and allotted 15,00,000 Equity Shares of J 10/- (at a premium of J 97/-) each on receipt of written request for exercising the option for conversion of 15,00,000 Convertible warrants alongwith the balance 75% (i.e. J 80.25/- per warrant) of the issue price of the convertible warrants to be converted, i.e. J 1,203.75 lakhs received by the company.
Pursuant to the approval of Shareholders of the Company at the Extra Ordinary General Meeting held on 24th March, 2023 and on the receipt of J 1,391.00 Lakhs, being 25% of issue price / subscription money, the Board of Directors of the Company allotted 52,00,000 Convertible Warrants at an issue price of J 107/- per warrant, aggregating to J 5,564.00 Lakhs by way of preferential allotment to Promoters, Persons belonging to Promoters' Group and Person other than promoters and Persons belonging to Promoters' Group of the Company. In terms of allotment of such warrants, warrants shall be convertible into equal number of fully paid-up Equity Shares of J 10/- (at a premium of J 97/-) each, at an option of the Warrant Holders, at any time in one or more tranches, within 18 (Eighteen) months from the date of allotment of warrants on payment of balance 75% amount due on such warrants, and to issue fresh Equity Shares on conversion of Warrants to the Allottees.
Security:
State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, and Indian Bank have sanctioned a term loan of J 1,804 lakh (reduced from J 2,000 lakh) to the Company under a consortium banking arrangement led by SBI, which acts as the lead bank.
Primary Securities for SBI consortium : Term loan J 1,804.00 Lakhs:
Pari passu first charge by way of hypothecation over Plant & Machinery to be procured out of Bank Term Loan (Existing & New P&M of Kapdvanj Plant and New P&M of Halol Plant).
Pari passu first charge by way of Equitable Mortgage over non- agricultural land bearing Survey/Block No. 1025/3, admeasuring about 40,266 sq.mtrs., paiki southern side admeasuring about 17,805 sq.mtrs., (amalgamation of old Survey Nos. 1025/3, admeasuring about 3,642 sq.mts., 1034/1, admeasuring about 8,093 sq.mts., 1035/1 2 3, admeasuring about 22,469 sq.mtrs., 1036/3, admeasuring about 6,070 sq.mtrs.) together with construction of factory standing thereon of mouje & Taluka: Kapadvanj, District: Kheda, Gujarat.
Collateral Securities (Refer Note No. 26.3)
Outside Consortium Banking Arrangement
Indian Bank has sanctioned Term loan of J 2,150 Lakhs.
Primary Securities for Term loan of J 2,150 Lakhs.
Exculsive charge on proposed machinery with hard cost of J 2,855 lakhs.
Collateral Securities for Term loan of J 2,150 Lakhs.
Pari Passu 1st charge by way of Equitable Mortgage of properties given as collatereal securities for working capital limit sanctioned (under consortume banking arrangment) mentioned under note no. 26.3)
Bajaj Finance Limited has sanctioned Term loan of J 2,000 Lakhs.
Term loans from Bajaj Finance Limited carrying an interest rate of 8.99% p.a. are repayable in 67 and 60 equal monthly installments of J 15 Lakhs and J 5.00 Lakhs respectively.
Primary Securities for Term loan of J 2,000 Lakhs.
Equitable Mortgage of property situated at Plot no 2348 admeasuring 28648 sq.mtr forming part of land bearing Survey no 110/1/1118 and surevy No 110/1119 ,city survey no NA 110 adm. 24418 Sq mtr & NA 110/1 adm .4230 sq mtr of Mouje khakhariya , Taluka : Savali, Vadodara.
26.1
State Bank of India ,Punjab National Bank Canara Bank and Indian Bank have sanctioned working capital facilities (Including LC/FLC, BG & Credit Exposure Limited refer Note 21.1) of J 21,000.00 Lakhs
(i) State Bank of India sanctioned Working capital limit of J 9000 Lakhs (Fund based limit of J 8000 Lakhs and Non - Fund based Limit of J 1,000 Lakhs).
(ii) Punjab National Bank sanctioned Working capital limit of J 2,250 Lakhs (Fund based limit of J 1250 Lakhs and Non - Fund based Limit of J 1,000 Lakhs).
(iii) Indian Bank sanctioned Working capital limit of J 2,250 Lakhs (Fund based limit of J 1,150 Lakhs and Non - Fund based Limit of J 1,100 Lakhs).
(iv) Canara Bank sanctioned working capital limit of J 7,500 Lakhs (Fund based limit of J 6,100 Lakhs and Non - Fund based Limit of J 1,400 Lakhs.)
SBI consortium has appointed PNB Investment Services Limited as "Security Trustee".
26.2 Primary security for the working capital facilities of J 21,000.00 lakhs sanctioned by the SBI-led consortium:
A charge of J 21,000 lakhs has been created in favour of PNB Investment Services Limited (Security Trustee).
Pari passu first charge by way of hypothecation over entire current assets (present & Future)of the Company including Raw Material, Stock in Process, Stock in Transit, Finished Goods, Stores, Spares & Receivables etc., kept at all owned/leased factory premises of the company or at any other place.
26.3 Collateral security for both the term loan of J 1,804 lakhs and the working capital facilities of J 21,000 lakhs sanctioned by the SBI-led consortium, aggregating to a total limit of J 22,804 lakhs:
Pari Passu 1st charge by way of Equitable Mortgage over immovable property being Shop No. GF - 8, on ground floor, admeasuring about 417 sq.mtrs., - Super built up, in the scheme known as "Himalaya Business Centre", situated upon nonagricultural land bearing Survey No. 539 being allotted Final Plot No. 684 in the Town Planning Scheme No. 28 of mouje: Wadaj, Taluka: Sabarmati, District: Ahmedabad in the name of the Company.
Pari Passu 1st charge by way of Equitable Mortgage over immovable property being Plot No. 2348, admeasuring about 28,328 sq.mts., togetherwith construction of factory sheds and building, admeasuring about 9,225.26 sq.mts., standing thereon situated upon non - agricultural land bearing Survey No. 219 paiki of mouje: Chandrapur, Taluka Halol District: Panchmahal in the name of the Company.
Pari Passu 1st charge by way of Equitable Mortgage over industrial purpose non- agricultural land bearing Survey/ Block No. 1025/A/2, admeasuring about 15,277 sq.mtrs., (amalgamation of old Survey Nos. 1025/A/2, admeasuring about 5,665 sq.mtrs., 1032, admeasuring about 4,047 sq.mtrs., 1033, admeasuring about 5,767 sq.mtrs.,) of mouje & Taluka: Kapadvanj, District: Kheda in the name of the Company.
Pari Passu 1st charge by way of Hypothecation charge over plant and machinery on land bearing Plot No. 2348 bearing S. No. 219 paiki at Chandrapur, Taluka Halol, District: Panchmahal, Gujarat in the name of Company.
B. Defined Contribution Plans Gratuity (Unfunded) :
(i) The company administers its employees gratuity scheme unfunded liability. The present value of the liability for
the defined benefit plan of gratuity obligation is determined based on actuarial valuation by an independent actuary at the period end, which is calculated using the projected unit credit method, which recognises each year of service as
giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the
final obligation.
(ii) Gratuity benefits in india are governed by the payment of Gratuity Act, 1972. the Key Features are as under:
Benefits Offered : 15 / 26 X Salary X Duration of Service
Salary Definition : Basic Salary Including Dearness Allowance (If Any)
Benefit Ceiling : Benefit Ceiling of J 20 Lakhs (Not Applied)
Vesting Conditions : 5 Years of Continuous Service (Not Applicable In Case Of Death/ Disability)
Benefit Eligibility : Upon Death or Resignation or Withdrawal or Retirement
Retirement Age : 58, 60, 62 Or 65 Years
(iii) Risks associated to the defined benefit plan of gratuity:
(a) Investment / Interest Risk:
The present value of defined benefit plan liability is calculated using discount rate determined with refence to market yield on government bonds denominated in Indian rupees. A decrease in the bond interest rate will increase the plan liability.
(b) Longevity Risk:
The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of the plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan's liability.
(c) Salary Risk:
The present value of the defined benefit plan liability is calculated by reference to the future salaries of the plan participants. as such, an increase in the salary of the plan participants will increase the plan's liability.
(d) Legislative Risk:
Risks of increase in the plan liabilities or reduction in plan assets due to change in legislation.
# Subsequent to the approval of the Resolution Plan by Hon'ble NCLT vide order no. 368 of 2021 dated 13-Dec-2021, the Income
tax department initiated recovery proceedings of demand of Rs 1459.32 Lakhs was outstanding for Assessment Year 2018-19 under section 154 of the Income Tax Act, 1961 in the name of AMCPL. Duly merged with The company as a result of above mentioned order The company has challenged the action of the income tax department by way of special civil application before the Hon'ble Gujarat High Court. Ad Interim Relief was granted by the Hon'ble Gujrat High Court vide their order dated 15/03/2022 and the implementation and operation of the impugned assessment order dated 19/04/2021 as well as the demand notice dated 19/04/2021 for the assessment year 2018-19 has been stayed. As per the Hon'ble High Court's orders dated 23.10.2023 and 01.10.2024, the interim relief granted against the impugned assessment order dated 19.04.2021 and the consequential demand notice dated 19.04.2021 for Assessment Year 2018-19 continues to remain in force, as the said interim relief has not been vacated to date.
* An order amounting to Rs. 570.33 lakhs has been passed by the GST Department pursuant to the Show Cause Notice dated
26.09.2025 issued in connection with an audit conducted under Section 65 of the CGST Act, 2017. The Company has challenged the said order before the Hon ble Gujarat High Court, seeking quashing and setting aside of the action initiated by the GST Department. The Hon ble Gujarat High Court has granted ad-interim relief vide its order dated 22-Apr-2026.
The Company has evaluated the impact of Supreme Court ( SC ) judgement dated February 28, 2019 in the case of Regional Provident Fund Commissioner (II) West Bengal v/s Vivekananda Vidyamandir and Others, in relation to exclusion of certain allowances from the definition of basic wages of the relevant employees for the purposes of determining contribution to Provident Fund ( PF ) under the Employees Provident Fund & Miscellaneous Provisions Act, 1952. There are interpretation issues relating to the said SC judgement. Based on such evaluation, management has concluded that effect of the aforesaid judgement on the Company is not material and accordingly, no provision has been made in the financial statements.
Note - 46 - Operating Segment Information
(a) The company has identified Steel Products viz Billets, Ingots, Forged Roundbars, Forged Bright Roundbars, Roundbars, RCS Bars, Brightbars and Seamless Pipes & Tubes, Electric Resistance Welded (ERW) Pipes & Tubes, which have similar risks and returns, as its sole primary business segment, accordingly, there are no separate reportable segment.
(b) Geographical Information
The geographical information analyses the Company s revenues and Non - Current Assets by the company s country of domicile (i.e., India) and other countries. In presenting the geographical information, segment revenue has been based on the geographical location of customers and segment assets have been based on the geographical location of assets.
Key Managerial Personnel who are under the employment of the Company and entitled to post employment benefits and other long term employee benefits recognised as per Ind AS 19 -'Employee Benefits' in the Standalone Financial Statements. As these employee benefits are lump sum amounts provided on the basis of actuarial valuation, the same is not included above.
F All Related Party transactions entered during the year were in ordinary course of business and are on arm's length basis and no amount has been recognised as bad or doubtful in respect of transactions with the Related Parites.
Note - 49 - Corporate Social Responsibility ('CSR') Expenses
Based on the guidance note on accounting for expenditure on corporate social responsibility activities (CSR) issued by the institute of chartered accountants of India and Section 135 of the Companies Act, 2013, read with rules made thereunder, expenditure incurred by the Company on CSR activities is as follows:
Note - 51 - Financial Instruments
The Company's financial liabilities mainly comprise the loans and borrowings in foreign as well as domestic currency, money related to capital expenditures, lease liabilities, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's financial assets comprise mainly of investments, security deposits, cash and cash equivalents, other balances with banks, trade and other receivables that derive directly from its business operations.
The Company is exposed to the Market Risk, Credit Risk and Liquidity Risk from its financial instruments.
The Management of the Company has implemented a risk management system which is monitored by the Board of Directors of the Company. The general conditions for compliance with the requirements for proper and future-oriented risk management within the Company are set out in the risk management principles. These principles aim at encouraging all members of staff to responsibly deal with risks as well as supporting a sustained process to improve risk awareness. The guidelines on risk management specify risk management processes, compulsory limitations, and the application of financial instruments. The risk management system aims to identify, assess, mitigate the risks in order to minimize the potential adverse effect on the Company's financial performance.
The following disclosures summarize the Company's exposure to the financial risks and the information regarding use of derivatives employed to manage the exposures to such risks. Quantitative Sensitivity Analysis has been provided to reflect the impact of reasonably possible changes in market rate on financial results, cash flows and financial positions of the Company.
* Investment in subsidiaries are measured at cost as per Ind AS 27, "Separate financial statements", and hence not presented here.
@ Fair value of financial assets and liabilities measured at amortized cost approximates their respective carrying values as the management has assessed that there is no significant movement in factor such as discount rates, interest rates, credit risk. The fair values are assessed by the management using Level 3 inputs.
# The financial instruments measured at FVTPL represents current investments and derivative assets having been valued using level 2 valuation hierarchy.
Fair Value Hierarchy
The fair value of financial instruments as referred to in note below has been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities [Level 1 measurements] and lowest priority to unobservable inputs [Level 3 measurements].
Level 1: Quoted prices for identical instruments in an active market
Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and
Level 3: Inputs which are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a net asset value or valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.
B Market Risk
Market Risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market Risk comprises three types of Risk: "Interest Rate Risk, Currency Risk and Other Price Risk". Financial instrument affected by the Market Risk includes loans and borrowings in foreign as well as domestic currency, retention money related to capital expenditures, trade and other payables.
(a) Interest Rate Risk
Interest Rate Risk is the risk that fair value or future cash outflows of a financial instrument will fluctuate because of changes in market interest rates. An upward movement in the interest rate would adversely affect the borrowing cost of the Company. The Company is exposed to long term and short - term borrowings. The Company manages interest rate risk by monitoring its mix of fixed and floating rate instruments and taking actions as necessary to maintain an appropriate balance. The Company has not used any interest rate derivatives.
The Company is exposed to foreign exchange risk arising from foreign currency transactions, primarily with respect to the US Dollar and Euro. Foreign exchange risk arises from recognized assets and liabilities denominated in a currency that is not the functional currency of the Company. Considering the volume of foreign currency transactions, the Company has taken certain forward contracts to manage its exposure.
C Credit Risk
Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company's exposure to credit risk is influenced mainly by cash and cash equivalents, trade receivables and other financial assets measured at amortized cost. The Company continuously monitors defaults of customers and other counterparties and incorporates this information into its credit risk controls.
The Company assesses and manages credit risk based on internal credit rating system. Internal credit rating is performed for each class of financial instruments with different characteristics. The Company assigns the following credit ratings to each class of financial assets based on the assumptions, inputs and factors specific to the class of financial assets. (i) Low credit risk, (ii) Moderate credit risk, (iii) High credit risk.
Based on business environment in which the Company operates, a default on a financial asset is considered when the counter party fails to make payments within the agreed time period as per contract. Loss rates reflecting defaults are based on actual credit loss experience and considering differences between current and historical economic conditions.
• Cash and Cash Equivalent and Bank Balance:
Credit Risk related to cash and cash equivalents and bank balance is managed by only accepting highly rated banks and diversifying bank deposits and accounts in different banks.
• Loans and other Financial Assets Measured at Amortized Cost:
Other financial assets measured at amortized cost includes export benefits receivables, bank deposits with maturity of more than 12 months and other receivables. Credit risk related to these other financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in place ensure the amounts are within defined limits.
• Trade Receivables:
Life time expected credit loss is provided for trade receivables. Based on business environment in which the Company operates, a default on a financial asset is considered when the counter party fails to make payments within the agreed time period as per contract. Loss rates reflecting defaults are based on actual credit loss experience and considering differences between current and historical economic conditions. Assets are written off when there is no reasonable expectation of recovery, such as a debtor declaring bankruptcy or a litigation decided against the Company. The Company continues to engage with parties whose balances are written off and attempts to enforce repayment. Recoveries made are recognized in statement of profit and loss.
• Expected Credit Losses:
Expected Credit Loss for Trade Receivables and Other Receivables under simplified approach:
The Company recognizes lifetime expected credit losses on trade receivables & other receivables using a simplified approach, wherein Company has defined percentage of provision by analyzing historical trend of default based on the criteria defined below and such provision percentage determined have been considered to recognize life time expected credit losses on trade receivables/other receivables (other than those where default criteria are met in which case the full expected loss against the amount recoverable is provided for). Further, the Company has evaluated recovery of receivables on a case to case basis. No provision on account of expected credit loss model has been considered for related party balances. The Company computes credit loss allowance based on provision matrix. The provision matrix is prepared on historically observed default rate over the expected life of trade receivable and is adjusted for forward - looking estimate.
Liquidity Risk is the risk that the Company will encounter difficulty in raising the funds to meet the commitments associated with financial instruments that are settled by delivering cash or another financial asset. Liquidity risk may result from an inability to sell a financial asset quickly at close to its fair value. Management monitors rolling forecasts of the Company's liquidity position and cash and cash equivalents on the basis of expected cash flows. The Company takes into account the liquidity of the market in which the entity operates.
E Capital Management
The Company's capital management objectives are:
> To ensure the company's ability to continue as a going concern
> To provide an adequate return to share holders
The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as presented on the face of balance sheet. Management assesses the Company's capital requirements in order to maintain an efficient overall financing structure while avoiding excessive leverage. This takes into account the subordination levels of the Company's various classes of debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividend paid to shareholders, return capital to shareholders, issue new shares, or sell assets to reduce debt.
Reason for Variance
(i) Return on Equity Ratio is improvement is mainly on account of higher Profit After Tax during the year on the back of growth in revenue, better operating margins and improved cost efficiencies.
(ii) Inventory Turnover Ratio decline is mainly on account of higher inventory holding to support planned scale-up of operations and to meet anticipated order book in the ensuing year.
(iii) Net Capital Turnover Ratio decline is mainly on account of higher net working capital deployed to support increased scale of operations, with growth in working capital base outpacing the growth in revenue.
(iv) Net Profit Ratio improvement is mainly on account of higher profitability during the year, supported by better realisations, favourable product mix and operating leverage on increased volumes.
(v) Return on Capital Employed Ratio improvement is mainly on account of higher operating earnings during the year, with growth in EBIT outpacing the increase in capital employed.
(vi) Return on Investment Ratio improvement is mainly on account of higher income earned on the Company's investments compare to previous year.
Note - 55 - Events Occurring after the Balance sheet Date
The Group evaluates events and transactions that occur subsequent to the balance sheet date but Prior to approval of the financial statements to determine the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. There are no subsequent events to be recognized or reported that are not already disclosed.
Note - 56 - Audit Trail
The Company uses 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, except that audit trail feature is not enabled at the database level insofar as it relates to accounting software. Further no instance of audit trail feature being tampered with was noted in respect of accounting software(s) where the audit trail has been enabled. Additionally, the audit trail of prior year(s) has been preserved by the Company as per the statutory requirements for record retention to the extent it was enabled and recorded in the respective years.
Note - 57 - Social Security Code
The Government of India has consolidated various existing labour laws into four codes, namely the Code on Wages, 2019; the Code on Social Security, 2020; the Industrial Relations Code, 2020; and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "New Labour Codes"). These Codes became effective from 21 November 2025.
The Company has evaluated the impact of the New Labour Codes on its employee benefit obligations. Based on the assessment carried out, including actuarial valuation as at 31 March 2026, the implementation of the Codes has not resulted in any material impact on the Company's gratuity liability.
As the detailed rules and clarifications under the Codes continue to evolve, the Company will closely monitor further developments and account for any changes, if required, in future periods.
Note - 58 - Additional Regulatory Information
(a) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the Company.
(b) The Company does not have any Investment Property.
(c) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible Assets.
(d) There are no Loans or Advances in the nature of loans that are granted to Promoters, Directors, KMPs and their Related Parties (as defined under Companies act, 2013), either severally or jointly with any other person, that are outstanding as on 31st March 2026:
(i) Repayable on Demand; or
(ii) Without specifying any terms or period of repayment
(e) Capital Work in Progress Ageing Schedule: Refer Note No. 7
(f) There are no Intangible Assets under development as on 31st March 2026.
(g) No Proceedings have been initiated or pending against the Company for holding any Benami Property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
(h) Borrowings Secured against Current Assets: Refer Note No. 47 (C)
(i) The Company is not declared Willful Defaulter by any Bank or Financial Institution or Other Lender.
(j) The Company has not undertaken any transactions with Companies Struck Off Under Section 248 of the companies act, 2013 or section 560 of companies act, 1956.
(k) No Charges or satisfaction of charges are yet to be registered with registrar of companies beyond the statutory period as on 31st March 2026.
(l) The Company has complied with the number of layers prescribed Under Clause (87) of Section 2 of the act read with Companies (Restriction on Number of Layers) Rules, 2017.
(m) No Scheme of arrangements has been approved by the competent authority in terms of sections 230 to 237 of the Companies Act, 2013.
(n) The Company has 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 directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (ultimate beneficiaries) by or on behalf of the Company or provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
(o) 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 directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (ultimate beneficiaries) by or on behalf of the funding party or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
(p) No Transactions has been surrendered or disclosed as income during the year in the tax assessment under the income tax act, 1961. There are no such previously unrecorded income or related assets.
(q) Corporate Social Responsibility (CSR): Refer Note No. 49
(r) The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
Note - 59
Previous Year's figures have been regrouped, rearrange, reclassified wherever necessary to correspond with the current year
classification / disclosure.
Note - 60 - Authorisation of Financial Statements
The Financial Statements for the year ended 31st March 2026 were approved by the board of directors on 29th April 2026.
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