A. The Authorized Share Capital of the Company be and is hereby increased from the existing ?2,00,00,000/- (Indian Rupees Two Crore Only) divided into 20,00,000 (Twenty Lakhs) Equity Share of ?10/- (Indian Rupees Ten Only) each to ? 23,00,00,000/- ( Indian Rupees Twenty-Three Crores Only) divided into 2,30,00,000 (Two Crores Thirty Lakhs) Equity Share of ?10/- (Rupees Ten Only) each vide Board Resolution dated September 13, 2024 and vide Ordinary Resolution passed in the Extra General Meeting dated September 13, 2024.
B. The Paid Up capital of the Company was increased from 1800003 Equity Shares to 2000000 Equity Shares by allotment of 199997 fully paid-up Equity Shares of the Company at a face value of Rs.10/- each (Rupee Ten only) at a Premium of Rs. 100/-per share [i.e., Issue Price Rs. 110/- per Share] by way of Preferential Allotment vide Board Resolution dated September 18, 2024.
C. The Company issued of 1,40,00,000 Bonus Equity Shares of ?10/-Indian Rupees Ten Only) each, distributed and credited as fully paid-up Bonus Equity Shares to the existing following Equity Shareholders in the ratio of 7:1 i.e.07 (Seven) fully paid up equity shares as Bonus shares against 01 (One) equity share held by existing equity shareholders of the Company as on September 24,2024 vide Special Resolution passed in the Extra General Meeting dated September 18, 2024 and Allotment via Board Resolution dated September 25, 2024.
b. Terms/rights attached to equity shares
The company has only one class of equity shares having a par value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
9 Corporate Social Responsibility (CSR)
As per Section 135 of the Companies Act, 2013 read with guidelines issued by Department of Public Enterprises, GOI, the Company is required to spend, in every financial year, at least two per cent of the average net profits of the Company made during the three immediately preceding financial years in accordance with its CSR Policy. The details of CSR expenses for the year are as under:
10 Balance Confirmation
Balance of sundry creditors and long term loans and advances are as per management confirmation.
11 Subject to the above notes in the opinion of Board of Directors the current assets including loans and advances are approximately of the value as stated in realized in the ordinary courses of business and provision for all known liabilities are adequate and not in excess for the amount reasonable and necessary.
12 The Company is a small and medium sized Company (SMC) as defined in the General Instructions in respect of Accounting Standards notified under the Companies Act, 2013. Accordingly, the Company has complied with the Accounting Standards as applicable to a small and medium sized company.
13 The Company has the process of identification of suppliers registered under the “The Micro, Small and Medium Enterprises Development (‘MSMED’) Act, 2006” by obtaining confirmation from suppliers. Based on the information available with the Company, there are no overdues more than 45 days, payable to the suppliers as defined under the ‘Micro, small and Medium Enterprises Development Act, 2006 as at March 31, 2024.
Based on the information available with the Company, the balance due to micro and small enterprises as defined under the MSMED Act, 2006 is as follows:
14 No provision for employee retirement benefit has been made in the books of accounts.
15 Figures have been rounded off to the nearest rupee.
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