The Company has only one class of equity shares having a face value of '10 per share. Each holder of equity shares is entitled to one vote per equity share. A member shall not have any right to vote whilst any call or other sum shall be due and payable to the Company in respect of any of the shares of such member. All equity shares of the Company rank pari passu in all respects including the right to dividend. The dividend is recommended by the Board of Directors and declared by the members at the ensuing Annual general Meeting.
Retained earnings represents cumulative profits of the company and effects of remeasurement of defined benefit obligations. This reserve can be utilised in accordance with the provisions of Companies Act, 2013.
The Securities premium was created on issue of shares. This reserve will be utilised in accordance with provisions of the Act. Capital Reserve
The purpose for which a capital reserve is created is for preparing the company for sudden events like inflation, business expansion, Govt Subsidy to be returned etc.
Secured by way of first charge on the fixed assets of the company, both present and future, situated at Tehsil Chaksu, Jaipur and personal guarantees of Ashok Kumar Agarwal, Ankit Agarwal and Neha Agarwal, Directors of The Company. The loan is also secured by collateral security of immovable properties located at Plot No. B-11(B&C), Malviya Industrial Area, Jaipur and Khasra No.157, 163 & 164, Village Badodiya, Chaksu Jaipur (owned by company), Apartment no. 1302, type 3 BHK-Sky Villa on 13th Floor in wing no.1 in 'The Crest' situated at Airport Enclave Scheme, Tonk Road, Durgapura, Jaipur (owned by Mrs.Neha Agarwal) and Plot No. 84 & 85, Amrit Nagar, Jaipur (onwed by Shri Ankit Agarwal,Director) on pari-passu basis with The Federal Bank Ltd.
SIDBI Loan is secured by way of first charge in the shape hypothecation on the plant and machinery to be bought out of the term loan disbursed and further secured by lien on the 'Fixed Deposits' amounting ' 57.30 Lacs plus accrued interest thereon and the personal guarantees of Ashok Kumar Agarwal and Ankit Agarwal and Smt. Neha Agarwal, Directors of Company,
SIDBI Loan is secured by way of first charge in the shape hypothecation on the plant and machinery to be bought out of the term loan disbursed and further secured by lien on the 'Fixed Deposits' amounting ' 66 Lacs plus accrued interest thereon and the personal guarantees of Ashok Kumar Agarwal and Ankit Agarwal and Smt. Neha Agarwal, Directors of Company,
Vehicle loans are secured by hypothecation of the respective vehicle.
Loans for plant & machinery are secured by hypothecation of the respective machinery created from the loan.
I First charge on Raw Material, Work-in Progress, Stocks, Finished Good, book debts and entire other Current Assets ofthe Company's on Pari-Passu with consortium Banks (Present & Future)
II Cash Credit under the consortium arrangements between Punjab National Bank and The Federal Bank Ltd. are collaterally secured by way of equitable mortgage of immovable properties loctated at Plot No. B-11(B&C), Malviya Industrial Area, Jaipur and Khasra No.157, 163 & 164, Village Badodiya, Chaksu Jaipur (owned by company), Apartment no. 1302, type 3 BHK-Sky Villa on 13th Floor in wing no.1 in 'The Crest' situated at Airport Enclave Scheme, Tonk Road, Durgapura, Jaipur (owned by Mrs.Neha Agarwal) and Plot No. 84 & 85, Amrit Nagar, Jaipur (onwed by Shri Ankit Agarwal,Director) on pari-passu basis with The Federal Bank Ltd.
note 28 : contingent LIABILITIES And Commitments
(Amount in ' Lacs)
particulars
For the year ended 31st March, 2023
For the year ended 31st March, 2022
a) Tax Matters pending with CESTAT
18.23
b) Pending Litigation against the company
5.20
0.00
c) Duty on export obligation under EPCG Scheme on the obligaation yet to be fulfilled
92.94
114.54
TOTAL
116.37
132.77
NOTE 30 : DISCLOSURES SPECIFIED BY MSMED ACT, 2006
The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence, disclosure relating to amounts unpaid as at the year end together with interest paid/payable to Micro Enterprises and Small Enterprises and others, under this Act could not be given. As per "The Micro, Small and Medium Enterprises Development Act, 2006, the company is required to identify the Micro, Small and Medium Suppliers and pay interest on overdue beyond the specified period. The Management believes that there are no overdue principal amount/interest payble amount for delayed payment to such vendors at the Balance Sheet Date. Accordingly, there is no liability for interest in respect of payments made during the year or on balances brought forward from previous year.
The accompanying notes are an integral part of the financial statements