Affordable Robotic & Automation Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

(i) (a) (A) whether the company is maintaining proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment.

(B) whether the company is maintaining proper records showing full particulars of intangible assets;

(b) whether these Property, Plant and Equipment have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the samehave been properly dealt with in the books of account;

(c) whether the title deeds of all the immovable properties (other than properties where the company is the lessee and the lease agreements areduly executed in favour of the lessee) disclosed in the financial statements are held in the name of the company, if not, provide the details thereof inthe format below:-

(d) whether the company has revalued its Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year and, if so, whether the revaluation is based on the valuation by a Registered Valuer; specify the amount of change, if change is 10% or more in the aggregate of the net carrying value of each class of Property, Plant and Equipment or intangible assets;

(e) whether any proceedings have been initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, if so, whether the company has appropriately disclosed the details in its financial statements;

Proper records maintained, physical verification done, no major discrepancies, all properties held in the name of the company, no revaluation done, no matter pending under Benami Transactions Prohibition Act 1988.

(ii) (a) whether physical verification of inventory has been conducted at reasonable intervals by the management

and whether, in the opinion of the auditor, the coverage and procedure of such verification by the managementis appropriate; whether any discrepancies of 10% or more in the aggregatefor each class of inventory were noticed and if so, whether they have been properly dealt with in the books of account;

(b) whether during any point of time of the year, the company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the basis of security of currentassets; whether the quarterly returns or statements filed by the company with such banks or financial institutions are in agreement with the books of account of the Company, if not, give details;

Proper records maintained, physical verification done, provisional statements submitted for March 23, Other Quarterly statements are in agreement with books. No Major discrepancies observed in Physical verification.

(iii) whether during the year the company has made investments in, provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties, if so -

(a) whether during the year the company has provided loans or provided advances in the nature of loans, or stood guarantee, or provided security to any other entity [not applicable to companies whose principal business is to give loans], if so, indicate-

(A) the aggregate amount during the year, and balance outstanding at the balance sheet date with respect to such Investments, loans or advances andguarantees or security to subsidiaries, joint ventures and associates;

(b) whether the investments made, guarantees provided, security given andthe terms and conditions of the grant of all loans and advances in the nature of loans and guarantees provided are not prejudicial to the company''s interest;

Not prejudicial to the interest of the company.

(c) in respect of loans and advances in the nature of loans, whether the schedule of repayment of principal and payment of interest has been stipulated and whether the repayments or receipts are regular;

No schedule of repayment stipulated

(d) if the amount is overdue, state the total amount overdue for more than ninety days, and whether reasonable steps have been taken by the company for recovery of the principal and interest;

Not Applicable

(e) whether any loan or advance in the nature of loan granted which has fallen due during the year, has been renewed or extended or fresh loansgranted to settle the overdues of existing loans given to the same parties, ifso, specify the aggregate amount of such dues renewed or extended or settled by fresh loans and the percentage of the aggregate to the total loansor advances in the nature of loans granted during the year [not applicable to companies whose principal business is to give loans];

Not Applicable

(f) whether the company has granted any loans or advances in the natureof loans either repayable on demand or without specifying any terms or period of repayment, if so, specify the aggregate amount, percentage thereofto the total loans granted, aggregate amount of loans granted to Promoters, related parties as defined in clause (76) of section 2 of the Companies Act, 2013;

As per Point No III (a) (A) above

(iv) in respect of loans, investments, guarantees, and security, whetherprovisions of sections 185 and 186 of the Companies Act have been complied with, if not, provide the details thereof;

Complied to the extent applicable

(v) in respect of deposits accepted by the company or amounts which are deemed to be deposits, whether the directives issued by the Reserve Bankof India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules made thereunder, where applicable, have been complied with, if not, the nature of such contraventions be stated; if an order has been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal, whether the same has been complied with or not;

No such transactions done during the year.

(vi) whether maintenance of cost records has been specified by the Central Government under sub-section (1) of section 148 of the Companies Act andwhether such accounts and records have been so made and maintained;

Accounts and records have been maintained.

(vii) (a) whether the company is regular in depositing undisputed statutory duesincluding Goods and Services Tax,

provident fund, employees'' state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues to the appropriate authorities and if not, the extent of the arrears of outstanding statutory dues as on the last day of the financial year concerned for a periodof more than six months from the date they became payable, shall be indicated;

(viii) whether any transactions not recorded in the books of account have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961), if so, whether the previously unrecorded income has been properly recorded in the books of account during the year;

Not applicable

(ix) (a) whether the company has defaulted in repayment of loans or other borrowings or in the payment of interest

thereon to any lender, if yes, the period and the amount of default to be reported as per the format below:-

(b) whether the company is a declared willful defaulter by any bank or financial institution or other lender.

(c) whether term loans were applied for the purpose for which the loans were obtained; if not, the amount of loan so diverted and the purpose for which it is used may be reported.

(d) whether funds raised on short term basis have been utilised for longterm purposes, if yes, the nature and amount to be indicated;

(e) whether the company has taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures, if so, details thereof with nature of such transactions and the amount in each case;

(f) whether the company has raised loans during the year on the pledge ofsecurities held in its subsidiaries, joint ventures or associate companies, if so, give details thereof and also report if the company has defaulted in repayment of such loans raised;

Clause b, d, e and f are not applicable, Term loans were applied for the purpose for which the loans were obtained

(x) (a) whether moneys raised by way of initial public offer or further public offer (including debt instruments) during the year were applied for the purposes for which those are raised, if not, the details together with delaysor default and subsequent rectification, if any, as may be applicable, be reported;

Moneys raised by Right issue and funds are applied for the purpose for which moneys raised

(b) whether the company has made any preferential allotment or private placement of shares or convertible debentures (fully, partially or optionally convertible) during the year and if so, whether the requirements of section

42 and section 62 of the Companies Act, 2013 have been complied with and the funds raised have been used for the purposes for which the fundswere raised, if not, provide details in respect of amount involved and nature of non-compliance;

Not applicable

(xi) (a) whether any fraud by the company or any fraud on the company has been noticed or reported during the

year, if yes, the nature and the amountinvolved is to be indicated;

(b) whether any report under sub-section (12) of section 143 of the Companies Act has been filed by the auditors in Form ADT-4 as prescribedunder rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government;

(c) whether the auditor has considered whistle-blower complaints, if any, received during the year by the company;

Not applicable

(xii) (a) whether the Nidhi Company has complied with the Net Owned Funds to Deposits in the ratio of 1: 20 to meet

out the liability;

(b) whether the Nidhi Company is maintaining ten per cent. unencumberedterm deposits as specified in the Nidhi Rules, 2014 to meet out the liability;

(c) whether there has been any default in payment of interest on depositsor repayment thereof for any period and if so, the details thereof;

Not applicable

(xiii) whether all transactions with the related parties are in compliance with sections 177 and 188 of Companies Act where applicable and the details have been disclosed in the financial statements, etc., as required by the applicable accounting standards;

In compliance and properly disclosed

(xiv) (a) whether the company has an internal audit system commensuratewith the size and nature of its

business;

The company has an internal audit system commensuratewith the size and nature of its business.

(b) whether the reports of the Internal Auditors for the period under audit were considered by the statutory auditor;

The reports of the Internal Auditors for the period under audit were considered by the statutory auditor.

(xv) whether the company has entered into any non-cash transactions with directors or persons connected with him and if so, whether the provisionsof section 192 of Companies Act have been complied with;

Not applicable

(xv) (a) whether the company is required to be registered under section 45-IAof the Reserve Bank of India Act, 1934

(2 of 1934) and if so, whether the registration has been obtained;

(b) whether the company has conducted any Non-Banking Financial or Housing Finance activities without a valid Certificate of Registration (CoR) from the Reserve Bank of India as per the Reserve Bank of India Act, 1934;

(c) whether the company is a Core Investment Company (CIC) as definedin the regulations made by the Reserve Bank of India, if so, whether it continues to fulfil the criteria of a CIC, and in case the company is an exempted or unregistered CIC, whether it continues to fulfil such criteria;

(d) whether the Group has more than one CIC as part of the Group, if yes, indicate the number of CICs which are part of the Group;

Not applicable

(xvi) whether the company has incurred cash losses in the financial year andin the immediately preceding financial year, if so, state the amount of cash losses;

(xvii) Whether there has been any resignation of the statutory auditors during the year, if so, whether the auditor has taken into consideration theissues, objections or concerns raised by the outgoing auditors;

Not applicable

(xviii) on the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the financial statements, the auditor''s knowledge of the Board of Directors and management plans, whether the auditor is of the opinion that no material uncertainty exists as on the date of the audit report that company is capable of meeting its liabilities existing at the dateof balance sheet as and when they fall due within a period of one year from the balance sheet date;

No adverse comments. We, however, state that this is not an assurance as to the future viability of the company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the company as and when they fall due.

(xix) (a) whether, in respect of other than ongoing projects, the company has transferred unspent amount to a Fund

specified in Schedule VII to the Companies Act within a period of six months of the expiry of the financial year in compliance with second proviso to sub-section (5) of section 135 of the said Act;

(b) whether any amount remaining unspent under sub-section (5) of section135 of the Companies Act, pursuant to any ongoing project, has been transferred to special account in compliance with the provision of sub- section (6) of section 135 of the said Act;

Not applicable

(xix) whether there have been any qualifications or adverse remarks by the respective auditors in the Companies (Auditor''s Report) Order (CARO) reports of the companies included in the consolidated

financial statements,if yes, indicate the details of the companies and the paragraph numbers of the CARO report containing the qualifications or adverse remarks.

Not applicable

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Mar 31, 2023

1. Axis Bank OD A/c: The Cash Credit of Axis Bank Ltd is secured against PAID Stock and Debtors and collateral

Security of Plant and Machinery, Properties Located at 1) Industrial Property of Land admeasuring 5600Sq.Mtr & Building/Shed Constructed there on at Gat No.1209, Situated at Village Wadki, Taluka Haveli Dist. Pune. 2) AeM of Flat No.302 on 3rd Floor, C building Namely: Krome Citronea Complex, Having Built up Area of 1800 SqFt. Situated in Survey no.16/12 Undri Pune, Tal Haveli Dist. Pune. 3) Industrial Plot in the name of Company Area 2450Sq Mtr. at Gat no.1217, Wadki, Pune, which is Adjoining to the Factory Land and Building at Gat No.1209 along with personal guarantee of Directors. CC of Rs 14 Crore, BG limit of Rs. 8.5 Crore and ECLGS Limit of Rs.1.47 Crore (Run down Balance) has been sanctioned by Axis Bank on 21.12.2022 In addition to guarantee of directors, other guarantors are Mrs. Baghirathi Padole & Mrs Shabri Padole.

2. ICICI Bank OD A/c : The Overdraft facility of Rs.57 lakh is secured by Residential Property situated at Vila 8, Insignia Brookland, Undri, Pune in addition to personal guarantee of Mr. Milind Padole, Mr. Manohar Padole, Mr. Rahul Padole, Mrs. Bhagirathi Padole, Mrs. Shabri Padole

11.1 Masterji AI Pvt Ltd is a subsidiary company of Affordable Robotic and Automation Ltd, holding 65% of Stake (Current Holding is 67%). The Company is incorporated in earlier year for carrying on business of formal and informal education to train students in both India and abroad for various educational programs through e-learnings. To Enhance education by developing Products using latest technology tools using different mediums including internet, satellite, television, mobile, tablets, Holograms, AGV and AI etc.

11 2

The Company has formed ARAPL North America LLC, but no investment is done till date in this subsidiary. - (100% Holding of ARAPL)

11.3

The company Arapl Intelligent Equipment Shanghai Co. Ltd. Which is a subsidiary is inoperative during FY 2022-23 (80% Holding of ARAPL), The Investment in this company has been already written off in earlier years.

11.4 ARAPL RaaS Pvt Ltd is a subsidiary company of Affordable Robotic Automation Ltd, holding 81.2% of Stake. The

Company is incorporated in earlier year for carrying on business of Warehousing Automation Solution on the concept of Robot as a Service and out right solution.

ARAPL RaaS International LLC (USA) is a subsidiary company of ARAPL RaaS Pvt Ltd, holding 100% of Stake, for expansion of the warehousing Automation Solution Business in USA.( Step 2 Subsidiary of ARAPL).

11.5 The Shares in Baramati Sah Bank Limited were acquired as a pre-requisite for getting loan from Bank, The loan taken was repaid. The shares surrender application is pending with bank for approval.

33 Transactions with struck off Companies u/s 248 or 560 - NIL

34 Charges yet to be registered with Registrar of Companies - Limits with Punjab National Bank as reported in Note No 3 is pending due to non-receipt of relevant documents and for ICICI Bank Limited OD as reported in Note no.6 (a) no separate charge created as it is already secured by Residential Property as mentioned in Note No. 6.1.2.

35 The Company has not traded or invested in Crypto Currency or virtual currency during the year

36 No proceedings are initiated or pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

38 Significant Accounting Policies

38.1 Method of Accounting

The accounts of the Company are prepared in accordance with the accounting principles generally accepted in India. The Company has maintained its accounts on mercantile system of accounting.

38.2 Basis for preparation of financial statements

The financial statements of the Company have been prepared under the historical cost conventions in accordance with generally accepted accounting principles. Accounting policies not specifically referred to otherwise are consistent and in accordance with generally accepted accounting principles.

38.3 Property, Plant and Equipment and Intangible Assets

Property, Plant and Equipment and Intangible Assets are stated at cost of acquisition / construction less accumulated depreciation. None of the Fixed Assets have been revalued during the year under review.

38.4 Depreciation

Depreciation on Property, Plant and Equipment is calculated on a Written Down Value Method using the rates arrived at based on the useful lives estimated by the management commensurate with The Companies Act, 2013

38.5 Investments

Investments are stated at cost of acquisition, if any.

38.6 Revenue recognition

Sales are accounted for on the basis of dispatch to customers, which excludes indirect taxes and duties and other income is recognized on accrual basis.

38.7 Inventories

The inventories of Raw material, Stores and WIP are valued by the management at cost or market price whichever is lower and on FIFO basis of physical verification of stock at the end of the year.

Particulars	INR in Lakh
Raw Material	1,558.69
WIP	2,994.24
WIP-Masterji.AI Project	68.72
Stores	45.28
Total	4,666.93

38 8 Current Assets, Loans and . Advances

In the opinion of the management, the value of all current assets, loans, advances and other realizables are not less than their realizable value in the ordinary course of business.

38.9 Employee benefit

Retirement Benefits in the form of provident fund contributions are charged to the Profit & Loss Account of the period when the contributions to the fund are due. There are no obligations other than the contribution payable to the fund. Provision of Gratuity Act ,1972 are applicable to the company . As per the actuarial valuation report taken, the company should provide for Gratuity of Rs.1,60,31,384/- up to the current year. The provision for FY 22 -23 as per actuarial report comes to Rs 44.22 lacs. The Company has not provided for the same in its books of Account and estimation for leave encashment could not be done.

38.10 Accounting for taxes on Income

Income Tax comprises of current tax, deferred tax. Provision for current income tax is made on the assessable income/benefits at the rate applicable to relevant assessment year. Deferred tax asset & liabilities are recognised for the future tax consequences of timing differences, subject to the consideration of prudence. Deferred tax assets & liabilities are measured using the tax rates enacted or substantively enacted by the Balance Sheet date. The carrying amount of deferred tax asset/liability are reviewed at each Balance Sheet date & recognised and carried forward only to the extent that there is a reasonable certainty that the asset will be realised in future.

38.11 Borrowing Costs

Borrowing costs that are directly attributable to acquisition of assets has been capitalized and other borrowing costs has been treated as an expense during the period in which they have incurred. Interest cost related to capital WIP has been capitalised.

38.12 Contingencies & events occurred after the Balance Sheet date

a) No such liabilities were noticed which are contingent in nature, other than those specified in independent auditors'' report and CARO Point No VII.

b) There are no such events except mentioned above that have occurred after the Balance Sheet date which will have bearing on profitability and / or state of affairs of the company.

c) The Company is planning for migration from BSE SME platform to BSE & NSE Main board, for the same EGM Conducted on 13.04.2023 to get approval from shareholder.

d) As on 31.03.2023, Bank Guarantee Issued by the company is Rs.80.60 Lac

38.13 Foreign Exchange Transactions

Transactions denominated in foreign currency are recorded at the exchange rate prevailing on the date of transaction. Exchange difference arising on the foreign exchange transaction settled during the period are recognised in the Profit & Loss Account. Monetary items outstanding on date of Balance sheet have been accounted at exchange rate as on that date and difference has been charged to Profit and Loss account.

38.14 Cash Flow Statement

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and items of Income or Expense associated with investing or financing cash flows.

38.2 Impairment of Assets

The company on annual basis tests the carrying amount of assets for impairment so as to determine

a) The provision for impairment loss, if any, or

b) the reversal, if any, required on account of impairment loss recognized in previous periods.

38.2 Earnings Per Share

Basic Earning Per Share is calculated by dividing the Net Profit attributable to the Shareholders by the total weighted average number of Equity Shares outstanding at the end of the year.

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Mar 31, 2018

Note- Collateral security of Plant and Machinery, Properties Located at 1) Industrial Property of Land admeasuring 5600Sq.Mtr & Building/Shed Constructed there on at Gat No.1209,Situated at Village Wadki, Taluka Haveli Dist Pune. 2) AEM of Flat No.302 on 3rd Floor, C building Namely: Krome Citronea Complex, Having Built up Area of 1800 SqFt. Situated in Survey no.16/12 Undri Pune, Tal Haveli Dist Pune. 3) Industrial Plot un the name of Company Area 2450Sq Mtr. at Gat no.1217, Wadki, Pune, Which is Adjoining to the Factory Land and Building at Gat No.120 along with personal guarantee of Directors. CC of Rs 12.00 Crore, BG limit of rs. 5 Crore, TL of Rs. 0.63 Crore and Corporate Loan of Rs. 4.62 Crore has been sanctioned by Axis Bank on 28/02/2018. In addition to guarantee of directors, other guarantors are Baghirathi Padole & Shabri Padole has been taken.

1.1 The Cash Credit of Axis Bank Ltd is secured against PAID Stock and Debtors and collateral security of Plant and Machinery, Factory Land, Building and Flat of Directors along with personal guarantee of Directors as stated in note no 3.1., including entire movable assets of the company, both present and future excluding vehicles

2.1 Balances of above Trade Payables are subject to confirmation and reconciliation^ any.

3.1 The Fixed Assets of the company have not been revalued during the year under review.

3 2 It is explained by the management that the company has assessed recoverable value of assets, which worked out to higher than corresponding book value of net assets. Hence no impairment loss has been recognized.

4.1 The Company has incorporated subsidiary company having 80% stake in People’s Republic of China under name and style ARAPL Intelligent Equiment Shanghai Co. Ltd, for marketing of products of the company. Above amount represents total investment in the above unit including working capital. No profits have been repatriated to the company during the year by the subsidiary.

5.1 Closing Stock is taken as valued and certified by the Management.

6.1 Balances of above Trade Receivables are subject to confirmation and reconciliation^ any.

7 Balances of Advances, Deposits, Investments, etc. are subject to confirmation and reconciliation, if any, wherever necessary.

8 Figures of previous year have been regrouped and rearranged, wherever necessary.

9 No sitting fees have been paid to any director of the Company during the year under review.

10 Under the Micro, Small & Medium Enterprises Development Act, 2006 which came into force from 2nd October, 2006, certain disclosuers are require to be made relating to Micro, Small & Medium Enterprises. The Company is in the process of compiling relevant information from its supplier about their coverage under the said Act. Since the relevant information is not readily available, no disclosure have been made in the accounts.

11 Related Party and Key Managerial Personnels

Mr. Milind Manohar Padole Managing Director

Mr. Manohar Pandurang Padole Whole time Director

Mr. Dakshnamurthy Kalidass CFO

Ms. Harshada Hendre CS and Compliance Officer