k. PROVISION FOR INCOME TAX
(i) Current Tax is the amount of Tax payable on the taxable income for the year as determined
in accordance with provision of Income Tax Act. 1961.
(ii) Deferred tax resulting from “timing difference” between book and taxable profit is accounted
for using tax rates and laws that have been enacted or subsequently enacted as on the
balance sheet date. The Deferred tax asset is recognized and carried forward only to the
extent that there is a reasonable certainty that the asset will be realized in future, however
where there is unabsorbed depreciation or carry forward of losses, deferred tax assets are
recognized only if there is a virtual certainty of realization of such assets supported by
convincing evidence that there will be sufficient future taxable income available to realize the
assets.
Security
(i) First charge by way of Hypothecation in favour of SIDBI of all borrower's movables, including movables,
plant, machinery, machinery spares, tools & accessories Office equipments, computers, furnitutes
and fixtures, MFA, etc. acquired/ to be acquired under the project/ scheme.
(ii) First charge by way of mortgage in favour of SIDBI of all that piece and parcel of Borrower's industrial
use non-agricultural land bearing block/survey no. 347 paiki, admeasuring 19,200 Sq.Mtrs, situated
lying and being at village-lunej, Taluka-Khambhat, Registration district-Anand and sub district-
Khambhat together with factory shed, building and structure thereon present & future.
(iii) Collateral Security of all the other movable assets of the Company and additional FD of Rs 40.00
lakhs.
(iv) Personal Guarantee of the Promoter Directors
The Disclosure in respect of the amounts payable to Micro and Small Enterprises have been made in the
financial statements based on the information received and available with the Company. Further, in view of
the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the
Act is not expected to be material. The Company has not received any claim for interest from any supplier
as at the balance sheet date. These facts have been relied upon by the auditors.
Note-26
Other Statutory Disclosures / Additional Regulatory Information:
The following disclosures are given in compliance with the requirements of Schedule III to the Companies
Act, 2013, as amended, and are to be read together with the other notes forming part of the financial
statements
Unless otherwise stated, the management has represented that no reportable transaction/event exists
under the respective clauses. The disclosures have been drafted parimateria with the requirements of
Schedule III and may be suitably modified based on the final audited financial statements of Technichem
Organics Ltd.
a. Title deeds of Immovable Properties not held in the name of the Company
The title deeds of all immovable properties, as disclosed in the financial statements under Property,
Plant and Equipment / Investment Property / Non-current assets held for sale, are held in the name of
the Company. Accordingly, no disclosure is required in respect of immovable properties whose title
deeds are not held in the name of the Company.
f. Benami Property
No proceedings have been initiated or are pending against the Company for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 and the rules made thereunder.
Accordingly, no disclosure is required in this regard.
g. Borrowings secured against Current Assets
(i) During the year the company has been sanctioned working capital limits in form of cash credit of
Rs. 750.00 lakh from a bank secured against inventories and trade receivables. We have verified
and reconciled the periodical statements sent to the bank with the books as mentioned below.
(ii) The Company has not been declared as a willful defaulter by any bank, financial institution or
other lender. Accordingly, no disclosure is required in this regard.
h. 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 or section 560 of the Companies Act, 1956. Further, there are no balances
outstanding with such companies as at the reporting date.
i. Registration of Charges or Satisfaction with Registrar of Companies
There are no charges or satisfaction of charges which are yet to be registered with the Registrar of
Companies beyond the statutory period. Accordingly, no disclosure is required in this regard.
j. Compliance with number of layers of companies
The Company has complied with the provisions relating to number of layers prescribed under section
2(87) of the Companies Act, 2013 read with the Companies (Restriction on Number of Layers) Rules,
2017.
Where the Company does not have any subsidiary company, the following sentence may be retained:
'The Company does not have any subsidiary company and hence the said disclosure is not applicable.'
l. Compliance with approved Scheme(s) of Arrangements
No scheme of arrangement has been approved by the competent authority under sections 230 to 237
of the Companies Act, 2013 during the year. Accordingly, no disclosure is required in this regard.
Where a scheme has been approved, the Company shall disclose that the accounting effect of the
scheme has been given in the books of account in accordance with the scheme and in accordance
with applicable accounting standards; any deviation shall be explained.
m. Utilisation of borrowed funds and share premium
A Funds advanced/loaned/invested through Intermediaries: The Company has not advanced, loaned
or invested funds, whether borrowed funds, share premium or any other source or kind of funds,
to any person or entity, including foreign entities, with an understanding, whether recorded in
writing or otherwise, that such person or entity shall directly or indirectly lend or invest in other
persons or entities identified by or on behalf of the Company, or provide any guarantee, security
or the like on behalf of ultimate beneficiaries.
B. Funds received from Funding Parties: The Company has not received any funds from any person
or entity, including foreign entities, with an understanding, whether recorded in writing or otherwise,
that the Company shall directly or indirectly lend or invest in other persons or entities identified by
or on behalf of such funding party, or provide any guarantee, security or the like on behalf of
ultimate beneficiaries.
Accordingly, no disclosure is required in respect of Intermediaries / Funding Parties / Ultimate
Beneficiaries.
n. Undisclosed Income
The Company has not surrendered or disclosed any transaction, not recorded in the books of account,
as income during the year in tax assessments under the Income-tax Act, 1961, including search,
survey or any other relevant provisions. Accordingly, no disclosure is required in this regard.
o. Corporate Social Responsibility
The provisions of section 135 of the Companies Act, 2013 relating to Corporate Social Responsibility
are not applicable to the Company for the year. Accordingly, no CSR disclosure is required.
Where CSR is applicable to the Company, the following table may be retained and completed based
on audited figures.
q. Borrowings not used for specific purpose
The Company has utilised borrowings from banks and financial institutions for the specific purpose
for which such borrowings were obtained. There are no instances where borrowings were not used
for the specific purpose for which they were taken at the balance sheet date.
V. Provisions for losses of subsidiary companies
Not Applicable, since the company has no any subsidiary company.
Note-28
The balances of Loans and advances, debtors and creditors are subject to balance confirmation by the
respective parties, and necessary adjustment if any will be made on its reconciliation.
Estimated amount of contract as per the Management remaining to be executed on capital account and not
provided for Rs. Nil (Rs. Nil)
There amounts outstanding as at 31st March, 2026, due to supplier who constitute a Micro, Small and
Medium Enterprises as per MSMED Act, 2006 is Rs. 104.65 lakhs (Rs. 139.39 lakhs)
Note - 37
Segment Reporting
The company is engaged in manufacturing and selling of chemical products. Since the company's business
falls within a single business segment, no further information for business segment is required.
Secondary Segment-Geographical segment
Information of Geographical segment
Note - 38
The figures of the previous year have been regrouped wherever necessary to make them comparable with
current year figures. Figures in Bracket indicate previous year figures.
|