Terms/ Rights attached to Equity Shares
The company has only one class of equity shares of INR 10/- each. Each holder of the equity share is entitled to one vote per share. In the event of liquidation, the holder of the Equity shares will be entitled to receive remaining assets of the company, after distribution to all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders
Interest/ Rights attached to Shareholders
The rights of the holders of any class of shares, for the time being forming part of the capital of the Company may be modified, affected, varied, extended or surrendered either with the consent in writing of the holders of three-fourths of the issued shares of the class or with the sanction of a Special Resolution passed at a separate meeting of the holders of those shares. The shares in the capital of the Company shall be under the control of the Directors who may allot or otherwise dispose of the same or any of them to such persons (whether already members or not) in such proportion and on such terms and conditions and either at premium or at par or at a discount against payment in cash or kind and at such time as they may from time to time think fit and proper.
a) Contingent Liabilities & Capital and Other Commitments
There are no Capital & other commitments liablity as on Balance Sheet Date. Contingent Liabilities as on 31th MARCH, 2024 is of Rs 2,05,89,309/- which pertains to Service Tax show cause notice cum demand order received dated 28th March, 2023 for the F.Y. 2019-20 against which company has filled an appeal and matter is prejudicial as on the Balance Sheet date.
c) Dues to Micro and Small Enterprises :
There are no dues to Micro and Small enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006.
d) Employee Benefits : i) Defined Benefit Plan
The Company does not have any post employment or other long term employee benefits other than non funded gratuity benefit. The Company has an unfunded gratuity liability amounting to INR 57,32,042 as on the reporting date, on basis of the actuarial valuation done for 31st March, 2023. Amount recognized as expenses in the financial statements ofthe current year is INR -2,04,520
f) Operating Leases :
i) The company has taken various commercial premises under cancelable operating leases. These lease payments are normally renewed on expiry.
ii) Lease rental expense in respect of operating lease: INR 79,78,128/- (Previous year INR 78,27,564/- ) have been charged to the Statement of profit and loss for the year.
h) The balances with parties reflected under the head Sundry Debtors, Sundry Creditors and Loans and Advances are subject to confirmation by the concerned parties.
i) The previous years figures are regrouped where ever necessary.
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