12. Provisions, Contingent Liabilities and Contingent Assets:- (AS-29)
Provisions are recognized only when there is a present obligation as a result of past events and when a reliable estimate of the amount of the obligation can be made.
Contingent Liabilities is disclosed in Notes to the account for:-
(i) Possible obligations which will be confirmed only by future events not wholly within the control of the company or
(ii) Present Obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.
Contingent assets are not recognized in the financial statement since this may result in the recognition of the income that may never be realized.
13. Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in the statement of profit and loss in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.
14. Cash and Cash Equivalents:-
The Company considers all highly liquid financial instruments, which are readily convertible into known amount of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents
Right, Preferences and Restriction attached to shares
Equity shares
The company has only one class of Equity having a par value Rs. 10.00 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.
Note number: 33 Additional Regulatory Information
(1) Details of Benami Property held Current Year
No benami property held by company.
Previous Year
No benami property held by company.
(2) borrowings from banks or financial institutions on the basis of security of current assets
whether quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts. YES
(3) Wilful Defaulter
Where a company is a declared wilful defaulter by any bank or financial Institution or other lender, following details shall be given.
Current Year
Company has not been declared wilful defaulter by any bank or financial institution or other lender.
Previous Year
Company has not been declared wilful defaulter by any bank or financial institution or other lender.
(4) Relationship with Struck off Companies Current Year
No relationship of company with any struck off companies.
Previous Year
No relationship of company with any struck off companies.
(5) Registration of charges or satisfaction with Registrar of Companies
Where any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period, details and reasons thereof
Current Year
No charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period. Previous Year
No charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.
(6) Compliance with number of layers of companies Current Year
Not applicable during the year.
Previous Year
Not applicable during the year.
Actuarial Gains/ Losses are accounted for in the period of occurrence in the Statement of Profit or Loss. Salary escalation & attrition rate are considered as advised by the entity; they appear to be in line withthe industry practice considering promotion and demand & supply of the employees.
Average Expected Future Service represents Estimated Term of Benefit Obligation.During the year, there were no plan amendments, curtailments and settlements.
6. Expenditure in Foreign Currency $4460 Nil
For Purchase of Machinery
7. Earning in Foreign Exchange Nil Nil
8. Previous year figures have been regrouped/rearranged wherever necessary.
Signature to notes 1 to 35
In terms of Our Separate Audit Report of Even Date Attached.
For Maheshwari & Gupta
Chartered Accountants For and on behalf of the Board of Directors
(FRN: 006179C)
„ AKSHAY MAKHIJA SATYANARAYAN RAWAT SUNILA KALRA
CA Sunil Maheshwari Director and CEO CFO Company Secretary
Membership No.: 403346 DIN: 02787252 DIN: DIN:
Place: Indore
Date: 30/05/2024
UDIN: 24403346BKALEM6297
AJAY MAKHIJA Managing Director DIN: 02847288
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