The Authorised Share Capital of the company was increased from 1,10,00,000 Equity Shares of Rs.10/- each to 21,10,00,000 Equity Shares of Rs. 10/- each vide resolution passed in members meeting dated 20th June, 2024.
During the year ended F.Y. 2024-25, the Company issued Bonus Share of 1,65,58,520 Shares of Rs. 10 each to the shareholders in the ratio of 4 (Four) bonus equity share against 1 (One) existing equity shares
c. Terms / Rights attached to equity shares Ordinary Equity shares :
Each holder of equity share is entitled to one vote irrespective of number of shares held. In event of liquidation of company the holder of equity shares would be entitled to receive remaining assets of the company after distribution of all preferential amounts.
Overdraft facility Availed From Punjab National Bank at the ROI of 10.50%, Secured With collateral as property of Parry Kukreja at Vill- Simbhalka, Sahranpur, UP- 247001 and guarantee of M/s. Chand plastic corporation.
Note: Overdraft facility Availed From Bank of Baroda of Rs. 100.00 lakhs at the ROI of 10.65%, Secured With collateral as personal property of Mr. Nikjil Kukreja at 4/911 Jaffar Nawaz, Saharanpur, Pin- 247001.
(Trade payables has been taken as certified by the management of the company, balances are subjected to ledger confirmations) Segregation of trade payables as due to MSME and Other than MSME are certified by management.
The Company has the process of identification of 'suppliers' registered under the Micro, Small and Medium Enterprises Development ('MSMED') Act, 2006, by obtaining confirmations from all suppliers. The above disclosure has been extracted from the Audited financial Statements of the Company from the respective year.
Ageing of the Supplier, alogwith any amount involved in disputes as required by Schedule III of Companies Act, 2015 is disclosed below after it becomes due for payment. In case of no credit terms defined the break-up of agewise supplier balance is given below after consiering from the date of transactions.
(Trade receivables has been taken as certified by the management of the company, balances are subjected to ledger confirmations
As per the view of the management of the company there is no doubtful debt and hence provision for doubtful debts have not been made)
NOTE 30-
Related Party Transactions
According to Accounting Standards-18 the company has presented disclosures in "Note-28". No transactions to report against the following disclosure requirements as notified by MCA pursuant to amended Schedule III:
a) Crypto Currency or Virtual Currency
b) Benami Property held under Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder
c) Registration of charges or satisfaction with Registrar of Companies
d) Relating to borrowed funds
i) Wilful defaulter
ii) Utilisation of borrowed funds & share premium
iii) Borrowings obtained on the basis of security of current assets
iv) Discrepancy in utilisation of borrowings
v) Current maturity of long term borrowings
e) There are no layer of companies, hence no disclosures are required.
f) There is no scheme of arrangement approved in terms of section 250 to 257 of Companies Act, 2015.
g) There are no loans and advances in the nature of loans that are granted to promoters, directors, KMP's and other related parties either severally or jointly with any other person that are repayable on demand.
h) The company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the income tax assessments under the Income tax Act, 1961.
i) The company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding that the intermediaries shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or
(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries
j) The company has not received from any person(s) or entity(ies), including (funding party) with the understanding that the company shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or
(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries
DISCLOSURE OF TRANSACTIONS WITH STRUCK OFF COMPANIES
The Company did not have any material transactions with companies struck off under Section 248 of the Companies Act, 2015 or Section 560 of Companies Act, 1956 during the financial year.
MATERIAL DEVELOPMENTS AFTER BALANCE SHEET DATE: Nil
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