32. Derivative instruments and un-hedged foreign currency exposure:
a) There are no outstanding derivative contracts as at March 31,2023 and March 31,2022.
b) Particulars of Un-hedged foreign currency exposure is: Nil
33. Secured Loans:
Term Loans:
From banks and financial institutions, together with interest accrued thereon, are secured by way of Vehicle Loans - primarily secured by the vehicle acquired with the loan sanction and personal guarantee of Director.
Working capital Loans:
Secured by way hypothecation on stocks, books debts and floating charge on Movable property not being pledged.
38. Foreign Currency Transactions: Nil.
39. Details of Loans given, Investments made and Guarantee given covered Under Section 186(4) of the Companies Act, 2013.
a. The company has not extended any Corporate Guarantees in respect of loans availed by any company/firm during the reporting period.
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40. Contingent Liabilities not provided for and commitments:
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Nature of Contingent Liability
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As at 31st March 2023
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As at 31st March 2022
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i. Unexpired guarantees issued on behalf of the company by Banks for which the Company has provided counter guarantee
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Nil
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Nil
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ii. Bills discounted with banks which have not matured
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Nil
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Nil
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iii. Corporate Guarantees issued by Company on behalf of others to Commercial Banks & Financial Institutions
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Nil
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Nil
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iv. Collateral Securities offered to Banks for the limit Sanctioned to others
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Nil
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Nil
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v. Legal Undertakings given to Customs Authorities for clearing the imports
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Nil
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Nil
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vi. Claims against the company not acknowledged as debts
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a) Excise
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N il
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Nil
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b) Sales Tax
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Nil
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Nil
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c) Service Tax
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Nil
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Nil
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d) Income Tax
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Nil
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Nil
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e) Civi l Proceedings
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Nil
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Nil
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f) Company Law Matters
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Unascertainable
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Unascertainable
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g) Criminal Proceedings
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Unascertainable
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Unascertainable
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h) Others
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Nil
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Nil
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vii. Estimated amounts of contracts remaining to be executed on Capital Account and not provided for
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Nil
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Ni l
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The information has been given in respect of such vendors to the extent they could be identified as micro and small enterprises on the basis of information available with company.
43. Financial Risk Management
In course of its business, the company is exposed to certain financial risk such as market risk (Including currency risk and other price risks), credit risk and liquidity risk that could have significant influence on the company’s business and operational/financial performance. The Board of directors reviews and approves risk management framework and policies for managing these risks and monitor suitable mitigating actions taken by the management to minimize potential adverse effects and achieve greater predictability to earnings.
44. Credit Risk
Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the company. The company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, a means of mitigating the risk of financial loss from defaults.
The company makes an allowance for doubtful debts/advances using expected credit loss model.
45. Liquidity risk
Liquidity risk refers to the risk that the company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as pre requirements. The Company’s exposure to liquidity risk is minimal as the promoters of the company is infusing the funds based on the requirements.
46. Financial figures have been rounded off to nearest rupee and regrouped wherever is necessary.
47. Notes 3 to 46 forms part of Balance Sheet and have been authenticated.
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