I. PROVISION AND CONTINGENCIES
The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation cannot be made.
CONTINGENT LIABILITY
In the opinion of the Management and on the basis of the Certificate provided there are no Contingent Liability and Commitments as on the date of signing the Financial Statement.
EARNING PER SHARE
Basic Earnings Per Share (EPS) is computed by dividing the net profit for the year attributable to the equity shareholders, by weighted average number of equity shares outstanding during the year. Numbers used for calculating basic and diluted earnings per share are as stated below:
DISCLOSURE REQUIREMENT UNDER MSMED ACT, 2006
As per the details available with the Company none of the dues are payable to the creditor who is covered under the MSMED Act, 2006.
RELATED PARTIES DISCLOSURE
As per Accounting Standard -18 issued by the Institute of Chartered Accountants of India the related parties' transactions are disclosed as under: -
A) List of Related Parties: - (as Certified by Management)
i. Enterprises where control exists
NA
ii. Key Management Personnel
Mr. Ashok Kumar Singh Director (CEO)
Mr. Sadanandan Azadathil Choikandy Director
Mr. Jitendra Dhanaraj Jain Director
Mr. Uttam Kumar Abhinandan Singh Director
C. In the opinion of the Board current assets, Loans and Advances except to the extent stated specifically are approximately of the values based if realized in ordinary course of business.
D. The Schedules referred to above are an integral part of Balance Sheet.
BY ORDER OF THEBOARD OF THE DIRECTORS For Mrc Agrotech Limited
sd/- sd/-
Ashok Kumar Singh Uttam Kumar A Singh
Director Director
DIN:08423436 DIN:09671175
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