(d) Rights, preferences and restrictions attached to shares -
Equity shares: The Company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The group declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Preference Shares: The Company''''s authorized capital is divided in equity share capital & preference share capital. However the company has not yet issued any preference share. as in the previous years. The company and the group have a good presence in the market and a good clientele. Considering various measures taken by the company, the profits have accrued and the accumulated losses are reduced
1. Public deposit:
The Company has not accepted any deposit within the meaning of Sections 73 to 76 of Companies Act 2013 and the rules framed there under. The Auditors has relied upon management representation in this regards.
2. The company has reviewed all the pending litigation and is of the opinion that no further provision is required impacting the financial position of the company
3. Long term contracts and derivatives contract:
The Company assessed its long term contracts. There are no foreseeable losses on such contracts. The company does not have any derivative contracts
4. Investor Education and Protection Fund:
During the year there is no amount required to be transferred to Investor Education and Protection Fund by the Company.
5. Previous year figures
a) The previous year figures have been reclassified to conform to this year’s classification wherever required.
b) The figures in brackets represent those of the previous year.