D. Disclosure as required by AS 29 “Provisions, Contingent Liability and contingent Assets” in
respect of provisions as at 31st March, 2025:
(a) Uncalled liability on partly paid up Shares Rs. 0.03 Lacs (P.Y. Rs. 0.03 Lacs).
(b) Sales Tax matter under appeal Rs. 33.00 Lacs (P.Y. Rs. 33.00 Lacs)
(c) Income Tax disallowance, matter pending under appeal before ITAT Rs. 73.13 Lacs (P.Y. Rs. 73.13 Lacs)
(d) Income Tax disallowance, matter pending under appeal before Commissioner Appeal Rs. 81.64 Lacs (P.Y Rs. 81.64 Lacs)
(e) The Company has imported certain Plant and Machinery at concessional rate of custom duty under Export promotion Capital Goods (EPCG) scheme. The unit has been granted license for pre-decided export obligation. As such, the liability that may arise for non-fulfillment of export obligation is currently non ascertainable. The said matter is pending with Deputy Commissioner of Customs, Raigad, Maharastra.
Foreign Currency Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates.
Company has not undertaken any transactions denominated in foreign currency and therefore, there is no foreign currency risk.
Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.
Borrowings of the company are interest free and therefore, there is no interest rate risk.
Credit Risk
Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk primarily trade receivables and other financial assets including deposits with banks.
Other financial assets
This comprises mainly of deposits with banks and other receivables. Credit risk arising from these financial assets is limited and there is no collateral held against these because the counterparties are group companies and banks.
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