The Company has made provision for all known liabilities. No provisions forContingent Liabilities and Contingent Asset provided during the year.
Investment properties are properties (land or building, or part of a building, or both)held to earn rentals or for capital appreciation or both, rather than for use in theproduction or supply of goods or services or for administrative purposes, or sale in theordinary course of business.
Recognition - Investment property is recognized as an asset when it is probable thatthe future economic benefits associated with the property will flow to the company,and the cost of the property can be measured reliably.
Measurement at Recognition - Investment properties are initially measured at cost,including transaction costs. The cost includes the purchase price and any directlyattributable expenditure, such as legal fees, property transfer taxes, and othertransaction costs. If the property is acquired in a business combination or through anexchange, the cost is measured in accordance with Ind AS 103, BusinessCombinations, or Ind AS 116, Leases (for right-of-use assets held as investmentproperty), as applicable.
g. IND AS 108 - operating Segments.
The Company has only one segment and hence no separate segment reporting required .
Signature to Notes 1 forming part of Balance sheet & Profit & Loss Account for the yearended 31st March 2025
The accompanying notes form an integral part of the standalone financial statements
H. RAJEN & CO. For and on behalf of Board
Chartered Accountants
Firm Registration No.: 108351W Mr. Erramilli Venkatachalam Sri Venkata Rajeswara Rao
Prasad Samavedam
Managing Director Director
(DIN: 08171117) (DIN: 10347786)
Rajendra Desai
Partner Place: Hyderabad Place: Hyderabad
Membership No. 011307 Date: 25th June 2025 Date: 25th June 2025
Place: Mumbai
Sachin H Singh Rawat
Date: 25th June 2025 Company Secretary
UDIN : 25011307BMJFNV5332 Membership No: A74233
Date: 25th June 2025
During the year, shareholders approved in the EGM dated 4th March 2025, Acquisitionthrough swap of equity shares of M/s. Crochet Industries Pvt. Ltd. with equity shares ofthe Company in the ratio of 1:1.136, pursuant to valuation by an Independent RegisteredValuer. The swap will significantly increase the equity base and impact the EPS.
During the year company has made investment in following companies by acquiring itsequity shares as follows:*During the year, payment of Rs.97,00,009/- made from part consideration of Rs.1,00,00,000 (Rupees One Crore only) for the proposed acquisition of its entire equityshareholding, together with the land owned by the Supreme Lush Breweries PrivateLimited, as per the terms and conditions under discussion and negotiations.
2. Deferred Tax Provision: No Deferred tax is recognized on books of accounts.
The Company is in line with its' business model & philosophy, to have ownmanufacturing facilities, for acquisitions (immediate revenue generation units) tohave substantial production capacities, further scaling up of production capacities& business revenues, incurred pre-revenue expenses which are considered as 'pre¬revenue expenses' and will be amortized against such revenue generations.
Travelling Expense incurred in USD 3000 (Rs. 252,900) towards purchase ofcurrency for travel to Uzbekistan. It is transferred to Deferred Revenue expenses.
The Company has Inventory valued at Rs. 32,775/- at cost or Market Value(whichever is lower) as on 31st March, 2025. The inventory has been physicallyverified by the management.
a. During the year Company has made investment in land at Kerala by payingan advance of Rs. 2.7 lakhs against total consideration of Rs. 43,02,000 subjectto clearance from local authority, the registration formalities shall becompleted.
b. The company has paid and Advance of Rs. 51.40 lakhs to M/ s KHS MachineryPvt Ltd against booking of Bottling Machine in Sept, 2024. However, we areunable to verify contract executed by the management with respect to itsdelivery, installation and other terms of contract including final project costs.However, the nature of business of company is Marketing of Brew of itssubsidiaries the advance towards purchase of machinery need to be justifiedby the management.
c. The Company has paid Rs.47.19 lakhs (Euro 50,000) to Steinecker GMBHtowards patented Steinecker Poseidon Technology and related crab free¬negative yeast for alcohol free beer (produced with Halal yeast) to anycompetitor in the UAE for the period of 48 months from November 26, 2024.The Management will amortised this cost in 4 years from the next financialyear as Patented cost.
8. Cash Balance:
Cash confirmation received from the management.
9. Balance Confirmations:
Loans & Advances receivable/ payables (Debit/ Credits), Other Balances of SundryDebtors, Creditors, Loans and Advances (Assets / Liabilities) are subject toconfirmation and reconciliation.
10. Duties and Taxes
a. The Company has paid demand pending with income tax department andsettled dues of old management amounting of Rs. 35.80 Lacs in the month ofOctober, 2024. However, The TDS amounts of Rs. 6,88,324/- for AY 2007-08and Rs. 14,13,765/- for AY 2008-09 were not considered by the Income TaxDepartment while assessing the intimation under Section 143(1). This hasresulted in interest and penalties being levied. Hence the refund is due but thesame was not considered as the matter is pending with the department.
b. Company is delayed in payment of its Statutory Liabilities like TDS.Management is expecting to clear these liabilities as soon as possible. (Referdetailed note in Clause vii para 3 of CARO 2020).
In cases where there are no balance confirmations for receivable/payables(Debit/Credits) during the handover by the old Management to the NewManagement, the same has been treated in books of Accounts accordingly, Suchwritten off/written back net resultant amount of Rs. 30,57678/-.
13. Provisions: The provision of all known liabilities is adequate and not in excess ofthe amount reasonably necessary.
As per Section 135 of Companies Act, 2013 provisions regarding CSR are notapplicable to the company.
Although the capital has been completely eroded by carry forward book losses,the management is of the opinion that these losses are temporary in nature and itwill be recovered in due course of time, hence the Company has prepared thefinancial statements on the basis that it will continue to operate as a going concern.
The Company do not have any Benami property where any proceedings have beeninitiated or pending against the Company.
The Company do not have any charge hence no satisfaction of charge is requiredto be filed with ROC.
The Company do not have any layers of Company's which requires compliancesw.r.t. provision related to number of layers as prescribed under section 2(87) ofthe Companies Act read with Companies (Restriction on number of Layers)Rules, 2017.
i. The Company have not traded or invested in Crypto currency or Virtual currencyduring the financial year.
ii. The Company have not advanced or loaned or invested funds to any otherperson(s) or entity(ies), including foreign entities (Intermediaries) with theunderstanding that the Intermediary shall:
iii. directly or indirectly lend or invest in other persons or entities identified in anymanner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) orprovide any guarantee, security or the like to or on behalf of the UltimateBeneficiaries.
iv. The Company have not received any fund from any person(s) or entity(ies),including foreign entities (Funding Party) with the understanding (whetherrecorded in writing or otherwise) that the Company shall:
v. directly or indirectly lend or invest in other persons or entities identified in anymanner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries)or
vi. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
vii. The Company have not entered any such transaction which is not recorded in thebooks of accounts that has been surrendered or disclosed as income during theyear in the tax assessments under the Income Tax Act, 1961 (such as, search orsurvey or any other relevant provisions of the Income Tax Act, 1961).
viii. The Company has not entered into any scheme of arrangement which has anaccounting impact on the current or previous financial year.
ix. The Company is not a declared willful defaulter by any bank or financialinstitution or other lender.
x. The figures of previous period/year have been re-grouped / re-arranged and / orrecast wherever found necessary.
xi. The aforesaid Financial Result are being disseminated on the website of theCompany.
the year ended 31st March 2025