(d) Terms and rights attached to Equity Shares:
The Company has issued only one class of Equity Shares having a Face Value of ? 1/- 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.
Nature and purpose of other Reserves General Reserve
The general reserves are the retained earnings of a Company which are kept aside out of Company's profits to meet future (known or unknown) obligations. The general reserve is a free Reserve which can be utilized for any purpose after fulfilling certain conditions.
Statutory Reserve (Reserve u/s. 45-IC of the Reserve Bank of India Act, 1934 (the "RBI Act, 1934"))
This reserve created as per the provision of the Section 45-IC of the Reserve Bank of India Act, 1934 (the "RBI Act"). Non-Banking Finance Company is required to transfer an amount not less than 20 per cent of its net profit to a Reserve Fund before declaring any dividend. Appropriation from this Statutory reserve is permitted only for the purposes specified by RBI.
Retained Earnings
Retained earnings are profits earned by the Company after transfer to general reserve, Statutory reserve in terms of section 45-IC(i) of the Reserve Bank of India Act, 1934 and payment of dividend to shareholders.
Remarks:
(a) Trade Receivables amounting of Rs. 174.61 Lakhs are receivable since long time. As per management explanation, these are recoverable and company is in process to recover. ECL Provision has not been made thereon.
(b) Other interest free advances (shown under other financial assets) amounting of Rs. 2091.34 Lakh given as advances to various parties for share purchase of various companies. Out of the 2059.44 lakhs advances are outstanding since long time. As per management explanation these are fully recoverable and company is in process to recover. ECL Provision has not been made thereon.
(c) Some of the balances of Trade Receivables, Deposits, Loans and Advances, Trade payable are subject to confirmation from the respective parties and consequential reconciliation/adjustment arising there from, if any.
(d) We draw attention to Notes in respect of incomplete Supporting bills, documents etc. of Supporting for some of the expenditure of 'revenue nature for the quarter ended March 31, 2025 as well as the year-to-date results for the period from April 01, 2024 to March 31, 2025.
(e) The company has Net Tax Asset of Rs. 112.28 Lakhs (Shown under Current Tax Assets) as on 31st March 2025 pertaining to various years. As per the management, company is in process to reconcile with tax department.
(f) The Company has not complied with provision if Ind AS- 19 for employee benefits. As per the management, company is in process to comply the same.
Note 27: Other Statutory Information
(a) The Company has not entered into 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.
(b) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.
(c) The Company is not declared willful defaulter by any bank or financial institution or other lenders.
(d) The Company has not traded or invested in crypto currency or virtual currency during the financial year.
(e) The Company has not revalued its property, plant and equipment (including right-of-use assets) during the year.
(f) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made there under.
(g) There is no instance of 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, during the year.
Note 28: Corporate Social Responsibility
The Company does not meet the criteria specified in sub section (1) of section 135 of the Companies Act, 2013, read with Companies [Corporate Social Responsibility (CSR)] Rules, 2014. Therefore it is not required to incur any expenditure on account of CSR activities during the year.
Note 29: Segment Reporting -
The company is primarily engaged in the single business of trading in shares and securities and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.
Note 31: Details of Loans given, Investments made, guarantees given covered under Section 186(4) of The Companies Act, 2013
Since your Company is one of the RBI registered NBFC (Non-deposit taking Company), provision of Section 186 of the Companies Act, 2013 are not applicable to the Company.
Note 33: There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2025. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.
b) The Company has not acquired, any loans not in default during the year ended March 31, 2025.
c) The Company has not transferred or acquired, any stressed loans during the year ended March 31, 2025.
Note 38:
Other Notes to Accounts
i. In the opinion of the management, current assets, loans and advances and other receivables are approximately of the value stated, if realized in the ordinary course of business. The provisions of all known liability are ascertained, except for Trade Receivables. Since the receivables are dues for more than one year, we are not certain about the recoveries of the same. The Company is confident of receiving the dues and hence no contingency liabilities have been provided.
ii. Previous year figures have been restated to confirm the classification of the current year.
iii. Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to reconciliation, since conformations have not been received from them. Necessary entries will be passed on receipt of the same if required.
iv. The company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Statement of Profit & Loss.
v. Previous year figures have been regrouped / rearranged wherever necessary to conform current year's figure. However same is not material.
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