i. Reconciliation of the Shares Outstanding at the beginning and at the end of the Reporting Periods.
There is no movement in the equity shares outstanding at the beginning and at the end of reporting period.
ii. Terms/ Right attached to Equity Shares
The Company has only one class of shares having a par value of Rs.10 per share fully paid up. Each holder of equity shares is entitled to one vote per share and the equity shares will rank pari passu with each other in all respects. The Board of Directors has not declared any dividend during the reporting period due to continues loss.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after payment of all liabilities.
iii. Aggregate number of shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the year end:
i) Shares allotted as fully paid pursuant to contract(s) without payment being received in cash during the financial year 2019-20 to 2024-25:
Nil
ii) Shares issued in aggregate number and class of shares allotted by way of bonus shares during the financial year 201920 to 2024-25:
iii) Shares bought back during the financial year 2019-20 to 2024-25:
iv) Shares issued under employee stock option plan (ESOP) during the financial year 2019-20 to 2024-25:
v) Shares reserved for issue under options:
1) The Company has reclassify the authorised preference share capital of the Comapny as per the shareholder resolutoin passed through postal ballot conculed on 05-02-2025. The Authorised Preference Share Capital is Rs. 6,40,00,000/- (Rupees Six Crores Forty Lakhs Only) comprising of 19,00,000 (Nineteen Lakh Only) Cumulative Non-Convertible Redeemable Preference Shares. Further the Company has and shall have the power to fix face value and coupon rate of the shares as per the provisions of the Act, increase or reduce the Capital, to divide classes the Share Capital into several classes of shares and stock and to attach thereto such preferential, qualified or special rights, privileges or obligations as may be determined by or in accordance with the regulations of the Company and to vary, modify or abrogate any such rights, privileges or conditions in such mariner as may be provided by the regulations of the Company.”
2) The Company has issued 6,06,000 10.00% Cumulative, Non-Convertible redemable preference shares @ Rs. 50/- each for redeumption of old issued preference share. The issued shares shall be redeemed on or before the end of 20 years of the issue at Rs. 50 or Fair Price to be calculated by independent valuer at the time of redemption whichever is higher.
3) The Company have been redeemed the preference shares issued before 2006; a) 10% Cum Redeemable Preference Shares of face value Rs. 50/- each @ Rs. 53/- and 13.5% preference share of face value of Rs. 10/- @ Rs. 12/- (Premium paid Rs. 2/-)
r2.17 The company's net worth has been fully eroded due to accumulated losses including the loss for the year. However the accounts are presented on the basis applicable to “Going Concern” as the Management is of the opinion that the Going Concern assumption is on the basis of foreseeable future. *2.18 Provision for all knows liabilities art adequate in the opinion of the Management.
*2.19 a) Since there was no production and/or dealing hence segment wise disclosure is not applicable.
b) The deferred tax assets/liabilities and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.
^2.21 Information on details of loans, Guarantee and Investments under section 186 of the Act.
i) Details of investments made are given in notes 2.1.
ii) Detail of Loans given by the Company in accordance with Section 186 of the Act read with rules issued thereunder are
iii) Th ere are no guarantees issued by the Company to any parties.
2.23 Financial Instruments Fair value hierarchy
The Company uses the following hierarchy for determining and/or disclosing the fair value of financial instruments by valuation techniques:
The categories used are as follows:
• Level 1: Quoted prices (unadjusted) for identical instruments in active market
• Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
• Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).
2.24 Risk Management
Financial risk management objective and policies
The Company's financial risk management is an integral part of how to plan and execute its business strategies. The Company's activities expose it to a variety of financial risk: Liquidity risk, Market risk and Credit Risk.
The Company's financial liabilities comprises mainly of borrowings, trade payables and other payables. The Company's financial assets comprises mainly of Loans, cash and cash equivalents ,trade receivables. A summary of the risks have been given below:
a) Liquidity risk
Liquidity risk is the risk that the Company will not be able to meet it's financial obligations as they become due. The Company manages its liquidity risk by ensuring that it will always have sufficient liquidity to meet its liabilities as and when due. The Company's anticipated future cash flows and undrawn committed credit facilities are expected to be sufficient to meet the
b) Market risk
Market risk is the risk that the fair value of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, price risk and currency risk. Financial instruments affected by market risk includes Loans, trade receivables and payables. The objective of market risk management is to manage and control market risk exposure within acceptable parameter, while optimising the return.
(i) Interest rate risk
Interest rate risk is the risk that the future cash flows of the financial instruments will fluctuate due to changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's investment in bonds, debentures and preference shares.
Sensitivity
Since the company does not have any interest risk exposure hence there has been no sensitivity analysis.
(ii) Price Risk
Price risk is the risk that the fair value of a financial instruments will fluctuate due to changes in market price. The Company is exposed to price risk arising mainly from investments in equity instruments and in private equity funds recognised at FVTOCI.
Since the company does not hold any financial instrument which will fluctuate due to changes in market price hence there has been no sensitivity analysis.
(iii) Foreign currency risk
Foreign currency risk is the risk that the fair value of future cash flows of an exposure will fluctuate due to changes in foreign exchange rates. Currently the Company does not have any foreign currency exposure
(c) Credit risk
Credit risk refers to risk that a counterparty will default on its contractual obligation resulting in financial loss to company. The Company is exposed to credit risk from its operating and treasury activities. The Company generally does not have collateral.
a) The Company's manufacturing unit remain under suspension w.e.f. 10.10.1999 onwards. In view of these circumstances the quantum of ratio (e) to (i) above are showing "Zero" due to absence of value of items in Numerator and Denominator for the same.
b) In case of any negative components in ratio working, the said ratio is considered as Not Applicable (N.A.).
c) Current Ratio increased due to sale of long term investment and converted in short-term advance.
d) ROI increased due to sale of investment during the financial year.
2.26 The Company does not have any Benami property, where any proceeding has been initiated or pending against the company for holding any Benami property.
2.27 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
2.28 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
2.29 The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956,
2.30 The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.
2.31 (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 Intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
(ii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,
2.32 No transaction to report against the following disclosures requirements as notified by MCA pursuant to amended Schedule III.
(a) Crypto currency or virtual currency.
Relating to borrowed funds:
(b) Borrwing obtained on the basis of security of current assets.
(c) Discrepancy in utilisation of borrowings.
(d) Current maturity of long term borrowings.
2.33 Corporate Social Responsibility (CSR)
In view of losses in three immediately preceding financial years, the Company is not required to incur expenditure on CSR Activities under Section 135(5) of the Companies Act, 2013.
2.34 The Company has no such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.
2.35 The Company has not been declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or any other lender or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.
2.36 As per Rule 3(1) of Companies (Accounts) Rules, 2014 (as amended), the Company has used accounting software for maintaining its books of account which, along with change log management, has a feature of recording audit trail (edit log) facility in terms of laid down requirements, and the same has operated throughout the financial year 202324 for all relevant transactions recorded in the software.
2.37 In the opinion of the Board of Directors, current assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and provisions for all known / expected liabilities have been made.
2.38 Events occurring after the Balance Sheet date
No adjusting or significant non - adjusting events have occurred between the reporting date and the date of authorisation of these financial statements.
2.39 Previous year's figures have been regrouped/reclassified wherever necessary, to confirm to current year's