NOTE 2B: Term/rights attached to equity shares
(i) The Company has only one class of equity shares having par value of Rs. 10/- per share. Each equity share holder is entitled for one vote per share. Dividend, if declared and paid, will be in Indian rupees and shall be subject to the approval of shareholders in the ensuing Annual General Meeting.
(ii) During the year ended March 31, 2025 and Year ended March 31, 2024, Company has not declared any dividend.
(iii) I n the event of liquidation of the Company, the holder of equity shares shall be entitled to receive remaining assets of the Company, after distribution of preferential amounts. The distribution will be in proportion of the number of fully paid equity shares held by each shareholder.
Note 2D: For verification of shareholding pattern
As per records of the company including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
Note 2E: The company for the period of five years immediately preceding the reporting date has not
(i) Allotted any class of share as fully paid pursuant to contract (s) without payment being received in cash
(ii) During the year, the Company has issued 13,28,07,600 bonus shares of Face value of Rs. 1/- each as on 7th October 2023.
(iii) There is no buy back of share.
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29. Contingent liabilities and commitments (to the extent not provided for):
A. Contingent Liabilities (RS. m Lakhs
|
|
Particulars
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As at 31-03-2025
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As at 31-03-2024
|
|
Claims against the company not acknowledged as debt
|
-
|
-
|
|
Guarantees
|
-
|
-
|
|
Other money for which the company is contingently liable
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-
|
-
|
|
GST Demand
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25.27
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8.45
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TOTAL
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25.27
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8.45
|
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B. Commitments (Rs. m Lakhs
|
|
Particulars
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As at 31-03-2025
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As at 31-03-2024
|
|
Estimated amount of contracts remaining to be executed
|
-
|
-
|
|
on capital account and not provided for
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-
|
-
|
|
Uncalled liability on shares and other investments partly paid
|
-
|
-
|
|
Other commitments (specify nature)
|
-
|
-
|
|
TOTAL
|
-
|
-
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30. Proposed Dividend Details: The Company has not declared dividend during the period under review.
31. Utilisation of IPO Proceeds: The Company has issued 61,40,000 equity shares to the public having a face value of Rs.10 per share including share premium of Rs. 23 per share aggregating to Rs. 2026.20 Lakhs by way of Initial Public Offer (IPO) and got listed on Emerge Platform of National Stock Exchange of India Limited on 23rd January, 2024. The net proceeds from the issue has been utilised for the following purpose:
32. In the opinion of the Board, the company has used borrowings from banks and financial institution only for the specific purpose for which it was taken at the balance sheet date.
33. In the opinion of the Board, all of the assets other than Property, Plant and Equipment and noncurrent investments have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.
34. Details of Benami Property held: There are no proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988).
35. The company has borrowing from the banks or financial institutions on the basis of Primary security of Stock and book debts, company is require to file Quarterly statements of Stock and debt or as and when required by bank.
36. Wilful Defaulter : The company is not declared as wilful defaulter by any bank or financial institution or other lender during the reporting period.
37. Relationship with Struck off Companies : The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013.
38. Registration of charges or satisfaction with Registrar of Companies: The Company does not have any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.
39. 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 Companies (Restriction on number of Layers) Rules, 2017.
40. Compliance with approved Scheme(s) of Arrangements:
No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during the reporting period.
41. Utilisation of Borrowed funds and share premium:
A. 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
(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.
B. Where a 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
(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 on behalf of the Ultimate Beneficiaries.
45. The Company has not set aside or proposed to be set aside any material amount to reserve, but not including provisions made to meet any specific liability, contingency or commitment known to exist at the date as to which the balance sheet is made up.
46. The Company has not set aside any material amount to provisions made for meeting specific liabilities, contingencies or commitments.
47. (a) Dividends from subsidiary companies- Nil
(b) Provisions for losses of subsidiary companies-Nil
48 Value of Imports: Value of imports calculated on C.I.F basis by the company during the financial year is as follows:
2006 are not outstanding for more than 45 days as at the end of reporting date and provision for the interest has not been created against the amount outstanding.
54. Disclosure of related parties/related party transactions pursuant to Accounting Standard (AS) - 18 "Related Party Disclosures":
43. Corporate Social Responsibility The Company is covered under section 135, amount of expenditure incurred on corporate social responsibility activities are as follows:
a. amount required to be spent by the company during the year is Rs. 11.75 Lakhs
c. shortfall at the end of the year out of the amount required to be spent by the Company during the year - Nil
d. total of previous years shortfall - Nil.
e. The reason for above shortfalls by way of a note - Not Applicable
f. The nature of CSR activities undertaken by the Company - Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects
g. Details of related party transactions - Nil
h. The Company has not made any provision with respect to a liability incurred by entering into a contractual obligation.
50. The amount remitted during the year in foreign currencies on account of dividends with a specific mention of the total number of non-resident shareholders, the total number of shares held by them on which the dividends were due and the year to which the dividends related;-NIL
51. Undisclosed income: There are no transactions that were not recorded in the books of account, and which has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961). There is no previously unrecorded income and related assets have been recorded in the books of account during the year.
52. Details of Crypto Currency or Virtual Currency: The
Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
53. Dues to Micro, Small and Medium Enterprises: The principal amount remaining unpaid to the supplier registered under Micro, Small and Medium Enterprises Development Act,
Notes to be disclosed :
1. Terms and conditions of sales and purchases: the sales and purchases transactions among the related parties are in the ordinary course of business based on normal commercial terms, conditions, market rates and memorandum of understanding signed with the related parties. For the year ended 31st March, 2025, the Company has not recorded any loss allowances for transactions between the related parties.
2. As the future liabilities for gratuity and leave encashment is provided on an actuarial basis and payment of insurance costs are made for the Company as a whole, the amount pertaining to the key management personnel is not ascertainable, therefore, not included above.
3. No amounts in respect of related parties have been written off/ written back during the year or has not made any provision for doubtful debts/ receivable.
4. No Loans or Advances in the nature of loans are granted to promoters, Directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person.
55 Income Taxes:
I. Minimum Alternate Tax Credit
The Company has opted the lower tax regime under section 115BAA of the Income Tax Act, 1961. Hence, there is no Minimum Alternate Tax credit recognised in the reporting year.
B. Defined Benefit 1) Gratuity
The gratuity benefit payable to the employees of the Company is as per the provisions of the Payment of Gratuity Act, 1972, as amended. Under the gratuity plan, every employee who has completed at least 5 years of service gets gratuity on separation or at the time of superannuation calculated for equivalent to 15 days salary for each completed year of service calculated on last drawn basic salary. The Company does not have a funded plan for gratuity liability.
58 Cashflow Statement
1. The Company has no significant amount of cash and cash equivalent balances held that are not readily available for use.
2. The Company does not have undrawn borrowing facilities that may be available for future operating activities.
3. The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.
4. The Company is investing adequately in the maintenance of its operating capacity.
VII. The estimates of rate of salary increase considered in the actuarial valuation takes into account inflation, seniority, promotion and all other relevant factors including supply and demand in the employment market.
VII. The estimates of rate of salary increase considered in the actuarial valuation takes into account inflation, seniority, promotion and all other relevant factors including supply and demand in the employment market.
60 Disclosures on Property, plant and equipment and
Intangible Assets
I. Property, plant and equipment
1. The Company do have any restrictions on title, and property, plant and equipment pledged as security for liabilities.
2. There is no amount of expenditure recognised in the carrying amount of an item of property, plant and equipment in the course of its construction.
3. There is no contractual commitments for the acquisition of property, plant and equipment.
4. There is no amount of compensation from third parties for items of property, plant and equipment that were impaired, lost or given up that is included in the statement of profit and loss.
5. The Company has no assets that are retired from active use and held for disposal
6. There is no temporarily idle property, plant and equipment at the reporting date.
7. The Company has fully depreciated property, plant and equipment that is still in use.
8. The Company has not revalued any class of property, plant and equipment during the financial year.
9. The Company has no property, plant and equipment retired from active use and not held for disposal.
II. Intangible asset
1. The carrying amount and remaining amortization period of any individual intangible asset that is material to the financial statements of the enterprise as a whole-Nil
2. The Company do have any restrictions on title, and intangible assets pledged as security for liabilities.
3. There is no contractual commitments for the acquisition of intangible assets.
4. The Company has no fully amortised intangible asset that is still in use.
5. There is no acquisitions of intangible assets through business combinations.
61 Investments :
I. Profits and losses with regard to investments have been disclosed as under:
a) profits and losses on disposal of current investments -Not Applicable
b) profits and losses on changes in the carrying amount of current investments -Not Applicable
c) profits and losses on disposal of long-term investments -Not Applicable
d) profits and losses on changes in the carrying amount of long- term investments -Not Applicable
II. The Company has no significant restrictions with regard to investments in subsidiaries on the right of ownership, realisability of investments or the remittance of income and proceeds of disposals.
64 Balance shown under head Sundry debtors, creditors and advances are subject to confirmation.
65 The company is duly following the notification of the Ministry of Corporate Affairs (MCA) which said, according to proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, for the financial year commencing April 1, 2023, every company which uses accounting software for maintaining its books of account, shall use only such accounting software which
has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in the books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.
66 Previous year's figures have been regrouped / reclassified wherever necessary to conform with current year's classification.
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