Manoj Ceramic Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

1.1	Contingent Liabilities & Commitments :		2024-2025	2023-2024
	Sr. No.	Particulars	Rs.	Rs.
	a	Disputed demands	NIL	NIL
	b	Claims not acknowledged as debts	NIL	NIL
		TOTAL	-	-

1.2 Provision for Taxation:

a The Company has during the year, provided the current year tax liability of Rs. 446.90 Lakhs (previous year Rs. 260.41 Lakhs) calculated as per the provisions of Income Tax. As the Company has adopted new tax regime hence no MAT credit is available under new tax regime.

b Company has recognised deferred tax credit of Rs. 8.07 Lakhs (previous year deferred tax credit of Rs. 24.33 Lakhs) during the year pertaining to timing difference which will be reversed in subsequent year. There is virtual certainty of such benefits being available in future period and thus the income has been recognised. The major components of Deferred Tax assets and deferred tax liabilities as at 31st March''2025 arising out of timing differences.

1.3 Leases

Lease payments of Rs 207.7305 (Previous year Rs. 156.85) have been recognized as expenses in the statement of profit & loss for the year ended March 31, 2025. Lease are cancellable and current financial year & future lease payments are shown as below: -

1.4 Sundry Debtors, Sundry Creditors, unsecured loans and advances are subject to confirmation by the respective parties and reconciliation. The impact of the differences, if any will be given in the year of settlement of accounts.

1.5 The company has entered into an agreement with Shri. Manoj D. Rakhasiya for use of the brand MCPL, which is owned by him and has paid Interest Free Security and Performance Deposit of Rs.675 (Rs. In Lakhs) and has paid Royalty of Rs. NIL for the current year for the use of his Brand for its business purpose.

1.6 Figures of the previous year have been rearranged / reclassified wherever necessary, to correspond with current year presentation

1.7 The Tally back up of Books of Accounts in electronic form is maintained on daily basis in server located at Unit No. 2 to 8, Building no 19 and 24, Indian Corporation Compound, Opp. Gajanan Petrol Pump, Mankoli Naka, Dapode Road, Bhiwandi Thane 421302.

Note 2.1(a): Terms & Conditions:

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share.

Authorised share capital of the Company was increased from Rs. 8,50,00,000 consisting of 85,00,000equity shares of face value of Rs. 10 each to Rs. 22,00,00,000 consisting of 2,20,00,000 equity shares of face value of Rs. 10 each.

During the financial year ended 31st March 2025, the Company has issued 30,73,000 equity shares through an Private placement on a preferential Basis at Face Value of Rs. 10 each and Securities Premium of Rs. 151 each per share on 16th December 2024 and 21st December 2024.

In the event of liquidation, the equity shareholders eligible to receive the residual assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Note 2.1(c):Preference Share Dividend Waiver

During the financial year ended 31st March 2025, the holders of 250000 preference shares of the Company, with a dividend rate of 15%, voluntarily waived their right to receive dividends for the Financial Year 2024-25

As a result, no dividend has been accrued or paid on these shares for the year ended 31st March 2025. The waiver was formally documented and approved by the Board of Directors on 05th April 2024, and was in accordance with the provisions of the Companies Act, applicable corporate governance policies, and the terms and conditions of the preference shares.

This waiver does not affect the rights of the preference shareholders in respect of dividends in future periods unless otherwise waived or modified.

Notes :

The Company has allotted convertible warrants in two tranches as follows:

10,00,000 Warrants Compulsory Convertible into Equity Shares were allotted on 16th December 2024 to the Other than Pramoters and 14,00,000 Warrants Compulsory Convertible into Equity Shares were allotted on 21st December 2024 to the Pramoters against receipt of 25% of the total consideration for each warrant at the time of allotment.

Each warrant entitles the holder to apply for and be allotted one fully paid-up equity share of the Company having a face value of Rs. 10/- each, upon payment of the balance 75% of the issue price (i.e., Rs. 120.75 per warrant).

The warrants are convertible into or exchangeable for equity shares within a period of 18 months from the date of respective allotments, in one or more tranches, at the discretion of the warrant holders, by exercising the conversion option.

Note 4.1: Security for loan against vehicle from bank A) Secured by way of:

T erm loan from bank is secured against the vehicle.

Note 4.2: Security for term loan Secured by way of:

Union Bank of India-UGECL

Primary: Extension of charge over Stock and Book debts Collateral: Extension of charge over Existing collateral security

Second charges on Primary and collateral Securities on following property:

1) Property Owned by Manoj Dharamshi Rakhasiya :

Property Address :Shop No. 1, 2 & 1/A, Ground Floor, A wing, Krishna kunj, Cooperative Housing Society, Opp. Paras Dham & Near Shri Gurukrupa Beg Hotel, Vallabh Baug Lane, Plot no. 140, Village Ghatkopar Kirol, Ghatkopar (East)-400077

2) Property Owned by Anjana Manoj Rakhasiya :

Property Address : Flat No. 904, Tower 2, Vijay Galaxy, Vijay Nagari, Near Waghbil Naka, Above NKGSB Bank, Waghbil Road, OGB Road, Thane (west), Village Kavesar, Thane-400607 Indian Bank

Registered mortagage of commercial land and building i.e. hotel cum resort situated at Chandekasare village, survey no. 21/4, Mikat no. 636, i. e. Friends hotels and resorts on Shirdi-nashik road, Near Arjun adevnture park, Tal. Kopargoan, Dist Ahmednagar. Collateral guarantee given on behalf of director by his friend.

ICICI Home Finance Co. Ltd (LOAN AGAINST PROPERTY)

Registered mortagage of residential land and building Property located at Flat No. 101,1204, 1601, Hs Ozone Tenure,186 Bldg No 3, Pant Nagar, Ghatkopar, Mumbai 400075.

Note 4.3: Unsecured Loans from Others-ICD

Rupa Renaissance Limited loans are repayable at end of 5 years and Rupa Infotech and Infrastructure Pvt. Ltd. are repayable at end of 10 years from the date of disbursement. The terms of the loans do not involve any security or collateral and are based on mutual agreement between the parties.

Note 6.1: Security for Cash Credit from Bank

Primary security hypothecation of stocks and book debts both present and future.

Collateral Security on following Property:

1) Property Owned by Manoj Dharamshi Rakhasiya :

Property Address :Shop No. 1, 2 & 1/A, Ground Floor, A wing, Krishna kunj, Cooperative Housing Society, Opp. Paras Dham & Near Shri Gurukrupa Beg Hotel, Vallabh Baug Lane, Plot no. 140, Village Ghatkopar Kirol, Ghatkopar (East)-400077

2) Property Owned by Anjana Manoj Rakhasiya:

Property Address : Flat No. 904, Tower 2, Vijay Galaxy, Vijay Nagari, Near Waghbil Naka, Above NKGSB Bank, Waghbil Road, OGB Road, Thane (west), Village Kavesar, Thane-400607 The cash credit carries an interest of EBLR 4.75%.

Reason for differences:

1) There is a discrepancy between the amount reported in quarterly statement / return and the amount as per books of account. Discrepancies are due to the following reasons.

The company to meet the compliance needs has to submit its data within stipulated time lines. Accordingly, the data prevailing as on those reporting dates as per books of accounts are submitted to banks, which is subject to adjustment for discrepancy if any.

Note 29: Earnings Per Share

Disclosure as required by Accounting Standard - AS 20 "Earnings Per Share" notified under The Companies (Accounting Standards] Rules, 2006 (as amended).

The Company has issued potential diluted equity share and therefore the Basic and Diluted earnings per Share will be the different. The earnings per share is calculated by dividing the profit after tax by weighted average number of shares outstanding.

Note 33: Gratuity (Core Employees)

The Company has a funded defined benefit gratuity plan for it''s core employees and is governed by the Payment of Gratuity Act, 1972. Under the Act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member''s length of service and salary at retirement age.

The following tables summarise the components of net benefit expense recognised in the summary statement of profit or loss and the funded status and amounts recognised in the statement of assets and liabilities for the respective plans:

The disclosure in respect of the defined Gratuity Plan are given below:

Note 34: Other Statutory Information

i. The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

ii. The Company is not declared wilful defaulter by any bank or Financial institution or other lender during the year.

iii. The Company does not have any transactions with companies struck off.

iv. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

v. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

vi. The Company has not received any fund 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

vii Company has not traded or invested in Crypto currency or Virtual currency during the financial year 2024-25

viii Company has not recorded any transaction 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)

ix. Company has not revalued its Property, Plant and Equipment (Including right-of-use asset) or Intangible asset during the current and previous financial year

*Note:Provision for Gratuity had to be reworked for the year ended 31st march 2024 due to an error in the calculation. The provision required for the year ended 31st March 2024 was Rs. 57.18 lakh whereas the provision made was Rs. 27.42 lakh. Hence the amount of Rs. 29.77 lakh is being debited to as prior period expense.

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Mar 31, 2024

17. Provisions and Contingent liabilities.

The Company creates a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

18. On the basis of our examinations of the records of the company, the following are the particulars disputed amounts payable in respect of Goods and Service Tax, Sales Tax and Excise Duty and other statutory dues as at the last day of the period ending 31^st March, 2024 are as follows.

The company has withdrawn the appeal from joint Commissioner and after that company has paid tax under amnesty scheme of MVAT on 10/05/2023 of Rs. 2,30,967.00/-. Final order under amnesty scheme has not been received as on the date of balance sheet, it is under the process as on the date of balance sheet.

19. Sundry Debtors, Sundry Creditors, unsecured loans and advances are subject to confirmation by the respective parties and reconciliation. The impact of the differences, if any will be given in the year of settlement of accounts.

20. We have broadly reviewed the basis of compiling details & information & we have test checked whenever the details/information compiled by the assesse.

21. The company has entered into an agreement with Shri. Manoj D. Rakhasiya for use of the brand MCPL, which is owned by him and has paid Interest Free Security and

Performance Deposit of Rs.675 (Rs. In Lakhs) and has paid Royalty of Rs. NIL for the current year for the use of his Brand for its business purpose.

22. The Board of Directors of the Company at its meeting held that Company for Preference Shareholders who want to Waive the Right to receive Dividend in respect of :-

15% Non-Cumulative Redeemable Preference Share (PS 1 series) issued in April, 2019 15% Non-Cumulative Redeemable Preference Share (PS 2 series) issued in February, 2020.

The preference shareholders have waived their right for all past years and for the year ended 31-03-2024 to any dividend on the preference shares.

23. The Tally back up of Books of Accounts in electronic form is maintained on daily basis in server located at Unit No. 2 to 8, Building no 19 and 24, Indian Corporation Compound, Opp. Gajanan Petrol Pump, Mankoli Naka, Dapode Road, Bhiwandi Thane 421302.

25. a. The inventory of finished goods, except those lying with third parties, and in transit, has been increased. No discrepancies exceeding 10% or more in aggregate for each class of inventory were noticed on physical verification of inventories as compared to book records.

b. The Company has been sanctioned working capital limit in excess of five crore rupees, in aggregate, from banks or financial institutions on the basis of security of current assets. The quarterly returns or statements filed by the company with banks or financial institutions were in agreement with the books of account of the Company and discrepancies are given as under:

1) There is a discrepancy between the amount reported in quarterly statement / return and the amount as per books of account. Discrepancies are due to the following reasons.

The company to meet the compliance needs has to submit its data within stipulated time lines. Accordingly, the data prevailing as on those reporting dates as per books of accounts are submitted to banks, which is subject to adjustment for discrepancy if any.

26. The profit of the company would have been lower by Rs. 4.02 Lakhs if provision for Interest on TDS Late made in books.

27. Details of Crypto currency or Virtual currency

Company has not traded or invested in Crypto currency or Virtual currency during the financial year 2023-24

28. Wilful Defaulters*

Company is not declared as a willful defaulter by any bank or financial institution or other lender during financial year 2023-24.

29. Benami Properties

There are no proceedings have been initiated or pending against the company under the Benami Transaction (Prohibition) Act, 1988 (45 of 1988) and rule made there under.

30. Compliance with number of layers of companies

The company does not have any layers of subsidiaries prescribed under clause (87) of Section 2 of the Companies Act, 2013.

31. Utilization of Borrowed funds and share premium:

Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

- directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

- provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

company has not received any fund 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

- 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

- provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

32. Relationship with Struck off Companies

Company has not done any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

33. Undisclosed income

Company has not recorded any transaction 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)

34. Valuation

Company has not revalued its Property, Plant and Equipment (Including right-of-use asset) or Intangible asset during the current and previous financial year

35. Registration of charges or satisfaction with Registrar of Companies (ROC)

Company has not to be registered any charges or satisfaction with ROC beyond the statutory period

36. Company has not granted any loans or advances to it promoters, directors, KMPs and related parties (as defined under Companies Act, 2013)

For Chhogmal & Co For Manoj Ceramic Limited

Chartered Accountants Firm Reg. No. 101826W

Sd/- Sd/- Sd/-

Mr. Chintan Shah Mr.Manoj D.Rakhasiya Mr. Dhruv M.Rakhasiya

(Partner) (Director) (Managing Director)

Membership No. 107490 UDIN - 23107490BGSZQT1941

Sd/- Sd/-

Mr Pankaj S Rakhasiya Ms Krupa B Thakkar

(Chief Financial Officer) (Company Secretary)

Place: - Mumbai Date:- 30/05/2024