4.1 The Company has Investments in Equity and Debt Instruments of Subsidiaries and these investments are measured at cost.
4.2 The Company also has Investments in Quoted instruments other than Equity and Debt Instruments of Subsidiaries and these investments are measured at Fair value through FVTOCI.
7.1 Current loans to related parties represents loans and advances given to subsidiaries Rs. 586.97 Lakhs. These are inter corporate deposits that have been provided for meeting working capital requirements and for other business purposes.
7.2 Current loans to Others are inter corporate deposits and other advances given.
7.3 There are no credit impairment with respect to current loans and therefore, allowance in respect of the same has not been made and disclosed in the respective schedule.
7.4 There are no outstanding debts due from directors or other officers of the Company as on March 31, 2024.
These loans and advances are repayable on demand and no schedule for repayment of Principle and Interest amount has been
7.5 stipulated.
Disclosure as per Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
7.6 Regulations, 2015:
111 (a) The comPany has only one class of shares referred to as equity shares having a par value of Rs. 1/- each. Each holder of equity shares is entitled to one vote per share and dividend in Indian rupees, if proposed by the Board of Directors, which is subject to the approval of the shareholders in the
(b) In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held at the time of commencement of
(c) The Suareholders have all other rights as available to equity shareholders as per the provisions of The Companies Act, 2013, read together with the Memorandum of Association and Articles of Association of the Company, as applicable.
(d) The Company in General Meeting may declare dividends to be paid to members, but no dividends shall exceed the amount recommended by the board, but the company in General meeting may declare a smaller dividend.
11.2 The Company does not have any holding or ultimate holding Company. Hence, requirement regarding shareholding by holding Company is not
Nature and purpose of reserves
(a) Securities Premium -
Securities Premium is created to record the premium on issue of Shares. Moreover, It will be utilized only for the purposes as provided under section-52 of The Companies Act,2013.
(b) Retained earnings-
Retained earnings are the undistributed accumulated earnings of the Company as on the balance sheet date.
(c) Other Comprehensive Income-
Other Comprehensive Income (OCI) is a section of the comprehensive income statement that includes items of income and expense that are not recognized in the profit or loss statement. These items are typically non-cash in nature and can significantly impact the financial position of a company, but their recognition in profit or loss would distort the picture of its operating performance.
13.1 Secured Loan from bank consists of the following -
a. Vehicle loan from Bank amounting to Rs. 69,16,229. The loan carries an interest rate of 8.4% per annum and repayable in 88 equal installment. The vehicle loan is secured by the vehicle purchased.
a. Vehicle loan from Bank amounting to Rs. 18,01,000. The loan is repayable in 88 equal installment. The vehicle loan is secured by the vehicle purchased.
16.1 Company has availed credit facility from Bank of Rs. 3,96,28,334/-. The facility interest rate ranged from 8.70% to 9.0% per annum. The facility is secured by Immovable property located at Mumbai.
17.2 There are no unbilled and not due trade payables, hence the same has not been disclosed in ageing schedule.
17.3 (a) Trade payables include Rs. Nil (As at March 31, 2024: Rs. Nil) due to micro, small and medium enterprises registered under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED).
(b) The Company is in the process of compiling relevant information from its suppliers about their coverage under the Micro, Small and Medium Enterprises Development Act, 2006. As the Company has not received any intimation from its suppliers as on date regarding their status under the above said Act and hence disclosures if any relating to amounts unpaid as at year end together with the interest paid /payable as required under the said Act have not been given.
Note 27 : Capital Management
The Company manages its capital in order to ensure that the Company will continue as a going concern and create value for its shareholders by maximizing return through an optimized capital structure.
(b) Short-term financial assets and liabilities are stated at carrying value which is approximately equal to their fair value.
(c) Investment consist of invetsments only in subsidiaries. Hence, measured at cost/ carrying value.
(d) Borrowings are loan from commercial banks at market interest rates prevailing in the market. Hence, considered at carrying value.
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments,traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using closing NAV._
Level 2: The fair value of financial instruments that are not traded in an active market(for example, traded bonds,over the counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity -specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument are included in Level 2.
Level 3: If one or more of the significant inputs is not based on observable market data,the instrument is included in Level 3. This is the case for unlisted equity securities,contingent consideration and indemnification asset included in Level 3.
The Company's policy is to recognise transfers into and transfer out in fair value hierarchy levels at the end of the reporting period.
Note 29 : Financial Risk Management Financial Risk Factors
The Company's principal financial liabilities comprise borrowings and trade payables. The main purpose of these financial liabilities is to manage finances for the Company's operations. The Company has loan, trade and other receivables, cash and short-term deposits that arise directly from its operations. The Company's activities expose it to a variety of financial risks:
i) Credit Risk
Credit risk arises from cash and cash equivalents and deposits with bank(s) / other company, as well as credit exposure to counter party that will not meet its obligations under a financial instrument or customer contract, leading to a financial loss.
ii) Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange rates, interest rates, credit, liquidity and other market changes.
(a) Foreign Exchange Risk
The Company generally transacts business in Indian National Rupee (INR) and the amount of foreign currency transaction are immaterial. The Company does not have any foreign currency financial instruments and therefore is not exposed to foreign exchange risk.
(b ) Price Risk
During the financial year, the company engaged in providing Professional services in finance industry. The price volatility ofthese services in domestic and international markets does not generally affect the operating activity of the Company.
iii) Liquidity Risk
The Company considers factors such as track record, size of the institution, market reputation and service standards to select the banks with which balances and deposits are maintained. Generally, the balances are maintained with the institutions with which the Company has also availed borrowings. The Company does not maintain significant cash and deposit balances other than those required for its day to day operations subject to the compliance with loan facilities. Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses.
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availibility of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions.
The Company's objective is to at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company relies on a mix of borrowings, capital infusion and excess operating cash flows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium term expansion needs. Management monitors the Company's liquidity position through rolling forecasts on the basis of expected cash flows.
The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on contractual undiscounted payments.
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