2.5 Management Disclosure Notes
1. There are no shares reserved for issue under options.
2. There are no securities that are convertible into equity / preference shares.
3. There are no shares allotted as fully paid-up pursuant to contract(s) without payment being received in cash during the period of five years immediately preceeding the year ended 31st March, 2024.
4. There are no shares bought back by the company during the period of five years immediately preceeding the year ended 31st March, 2024
Notes :
Term Loan 1 - ICICI Bank Vehicle Loan
Nature of facility : For purchase of New Commercial Vehicle
Tenor : 58 months
Repayment :- Principal to be paid in 58 equally monthly installments. Period of loan outstanding is 19 months
Term Loan 2 - ICICI Bank Vehicle Loan
Nature of facility : For purchase of New Commercial Vehicle
Tenor : 58 months
Repayment :- Principal to be paid in 58 equally monthly installments. Period of loan outstanding is 19 months
Term Loan 3 - ICICI Bank Vehicle Loan
Nature of facility : For purchase of New Commercial Vehicle
Tenor : 58 months
Repayment :- Principal to be paid in 58 equally monthly installments. Period of loan outstanding is 19 months
Term Loan 4 - HDFC Bank Vehicle Loan
Nature of facility : For purchase of New Commercial Vehicle
Tenor : 58 months
Repayment :- Principal to be paid in 58 equally monthly installments. Period of loan outstanding is 44 months
1. Secured Loan reapayble on demand :
ICICI Bank Limited Cash Credit Facility : Sanction limit of Rs. 2970 Lakhs (Rs.1170 Lakhs Funded and Rs.1800 Lakhs Non Funded). Terms of Repayment : On Demand
Descriptive Note
Cash Credit with bank has been secured by Hypothecation of Book Debts with 25% margin on receivables upto to 120 days. The cash credit is further collaterally secured by Equitable / Register Mortgage created on Property : Unit No. 619, 624 and 625 Lodha Supremus II, 22 Wagle Industrial Eatate, Thane owned by ANI Instruments - Partnership firm along with personal gaurantees of following Directors :
Mr. Navin Nandakumar Korpe Mrs. Anita Navin Korpe Mr. Akshay Korpe Mr. Kedar Korpe
2. Unsecured Loan reapayble on demand :
Standard Chartered Bank - Cash Credit Facility : Sanction limit of Rs. 2000 Lakhs.
Terms of Repayment : On Demand
Descriptive Note
Cash Credit with bank has been secured by Hypothecation of Book Debts with 25% margin on receivables upto to 90 days. The cash credit is further secured by corporate guarantee of ANI Instruments - Partnership firm along with personal guarantees of following Directors :
Note 7.1 : Steps have been taken to identify the suppliers who qualify under the definition of micro and small enterprises, as defined under the Micro, Small and Medium Enterprises Development Act 2006. Since no intimation has been received from the suppliers regarding their status under the said Act as at 31st March 2025, disclosures relating to amounts unpaid as at the year end, if any, have not been furnished. In the opinion of the management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act, is not expected to be material.
Note 18 : Contingent liabilities and commitments (to the extent not provided for)
Sr. No. Contingent Liabilities
(a) The Contingent liabilities not provided for Rs. 1815.69 Lakhs against Bank Guarantees submitted to Customers against contractual agreement of services
(b) A show cause notice has been issued to the company under section 279(1) for default under 276B / 276BB of the Income Tax Act , 1961 for delay in payments of Tax deducted at source for FY 2022-23. Currently the proceedings are on but prosecution has not been initiated hence the amount of penalty/fees is not determined / quantified.
(c) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Nil
32. In the opinion of the board, value on realization of debtors, loans and advances and other current assets in the ordinary courses of business will not be less than the amount stated in the balance sheet.
33. There are no long term contracts as on 31.03.2025 including derivative contracts for which there are any material foreseeable losses.
34. In the opinion of the board, provision for all known liabilities is adequate and not in excess of the amount reassonably necessary.
35. Figures of previous years have been regrouped, rearranged and reclassified wherever necessary to conform the current period's classification.
(v) Other statutory information :
a) Title deeds of Immovable Property not held in name of the Company - NIL
b) The company has not revalued its Property, Plant and Equipment.
c) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
d) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.
e) The Company has no relationship with struck off companies
f) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
g) The Company was not a part of any Scheme of Arrangements to be approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
h) The Company has not received any funds 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,
i) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
j) The Company does not have any 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)
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