Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as
a result of past events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor
disclosed in the financial statements.
AB Effect of Amalgamation
1. The Regional Director, Eastern Region (ER) vide its order/company petitions no-11/KB/2022 dated 2nd April 2024
has sanctioned the Scheme of Amalgamation of Apsara Selections Limited and Sankhu Merchandise Private Limited
(Transferor Company) with Gretex Industries Limited (Transferee Company) pursuant to Section 233 of the Companies
Act, 2013.
2. The Transferor Company and the Transferee Company respectively will comply all the applicable provisions of the
Companies Act, 2013 for registering the order passed by the Regional Director (ER).
3. As per the Scheme of Amalgamation, all the Assets and Liabilities including Reserves & Surplus of the erstwhile
Transferor Company will stand transferred and vested with the Company as on and from the Appointed Date, i.e., 1st
April 2023 as the certified copy of order was received on 22nd April 2024.
4. The company has recorded in its books all the Assets and Liabilities including Reserves & Surplus of the erstwhile
Transferor Company as on 1st April 2023 the Transfer Date by booking them on one to one basis.
5. The Transferee Company is taking appropriate steps for registering in its name all assets that are registered in the name
of erstwhile Transferor Company.
6. The accounting for Amalgamation is being done on the basis of Pooling of Interest Method as per and in the manner
provided in Accounting Standard AS-14.
7. As per the scheme of Amalgamation, the Authorized Capital of the Transferor Company is transferred to and
amalgamated with the authorized share capital of the Transferee Company.
8. Upon the Scheme being sanction by the Regional Director (ER) and transfer being taken place as stipulated under
different clause here in terms of the Scheme, the transferred company shall without any further application issue and
allot to every equity share holders of the Transferor Companies fully paid up shares of the Transferee Company. Pending
issue of such shares as on 31st March 2024, the face value of shares to be issued has been accounted under Share
Capital Suspense Account (Refer Notes 3)
9. While Calculating Earnings per share, we have considered outstanding paid up and issued shares of Transferee company
only.
AC Dues to Micro & Small Enterprises Under the MSMED Act 2006
There are no dues to Micro, Small and Medium Enterprises (MSMEs) as defined in the Micro, Small, Medium Enterprises
Development Act, 2006 within the appointed date during the year and no MSMEs to whom the Company owes dues on
account of principal amount together with interest at the balance sheet date and hence no additional disclosures have been
made.
For JAY GUPTA & ASSOCIATES For and on behalf of Board of Directors
Chartered Accountants
Firm Regn No : 329001E
Sd/- Sd/- Sd/- Sd/-
BADRI PRASAD SINGHANIA NEETI DUBEY ARVIND HARLALKA ALOK HARLALKA
Partner Company Secretary Joint Managing Director Director
Membership No : 058970 DIN :00494136 DIN : 02486575
Place : KOLKATA Place : KOLKATA Place : KOLKATA Place : KOLKATA
UDIN: 25058970BOENBT9197
As Per Records of the company including its register of members and other declarations received from the sharesholders regarding
beneficial interest , the above shareholders represents legal ownership of shares
(f) The Company has issued only one class of equity shares having a par value of Rs. 10 per share. Each equity shareholder
is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
Any dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General
Meeting, except in case of interim dividend.
Earning available for debt service = Profit for the year (before taxes) Finance costs Depreciation and Amortisation
Expense
Total debt service = Finance costs Principal Repayments
Capital employed = Shareholders' funds Long Term Borrowings Short Term Borrowings Deferred Tax Liabilities (Net) -
Intangible assets - Intangible Assets under development
34. Other Disclosures
Disclosure requirements as notified by MCA pursuant to amended Schedule III:
- The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
- The Company does not have any Benami Property under Prohibition of Benami Property Transactions Act, 1988.
- The Company has not been declared a wilful defaulter by any lender who has powers to declare a company as a wilful
defaulter.
- The Company has no Scheme of Arrangement approved by the competent authority specified under Section 230 to 237
of the Companies Act, 2013.
Previous Period figures have been re-grouped / re-classified, wherever necessary, to make them comparable with Current
Period's classification.
For JAY GUPTA & ASSOCIATES For and on behalf of Board of Directors
Chartered Accountants
Firm Regn No : 329001E
UDIN:25058970BOENBT9197
Sd/- Sd/- Sd/- Sd/-
BADRI PRASAD SINGHANIA NEETI DUBEY ARVIND HARLALKA ALOK HARLALKA
Partner Company Secretary Joint Managing Director Director
Membership No : 058970 DIN :00494136 DIN : 02486575
Place : KOLKATA Place : KOLKATA Place : KOLKATA Place : KOLKATA
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