Notes to Accounts of Arvee Laboratories (India) Ltd.

Mar 31, 2024

14.4. Terms / Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The company 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 ensuing annual general meeting.

During the year ended 31^st March 2024, No dividend is declared by Board of Directors. (Previous year - Nil)

14.S. Shares held by Holding / Ultimate holding company and/or their subsidiaries/associates: Not Applicable 14.G Shares reserved for issue under options: NIL

The details of security of the borrowings are set out below:

Description of Security offered to Standard Chartered Bank by way of Exclusive first charge of the following property/assets:

1. Hypothecation of Plant and Machinery of the company.

2. Registered Mortgage over the company''s 1. R.S. No. 316 paiki Plot No 1 area admeasuring about 7183 sq mtr with construction thereon mouje kardej Ta. & Dist Bhavnagar, 2. residential flat No 403, Kailash Apartment, Nr. Gogha Circle, Bhavnaghar & residential flat No 103, Pruthvi Plaza, Nr Gogha Circle, Bhavnagar.

3. First charge on entire current assets of the company including Raw Materials, Stock in process, Finished goods, spares & Receivables (not older than 90 days) present and future.

4. Personal Guarantee of Directors.

Rate of Interest & Repayment terms of Loans:

1. Export Packing Credit taken from Standard Chartered Bank bear LIBOR 200BPS rate of interest per annum and generally repayble in 90 days.

2. Working Capital Facility in INR taken from Standard Chartered Bank bear 3.7794 3 month MIBOR rate of interest per annum payable on demand.

Rate of Interest & Repayment terms of Unsecured loans taken from Directors:

1. Unsecured Loans taken from Directors and relatives of directors bear interest rate of 1296 to 15% per annum .

2. Unsecured Loans taken from Directors and relative of directors are repayable as and when demanded after acceptance.

The information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the Auditors.

30. Contingent liabilities and commitments (to the extent not provided for) (a) Contingent liabilities
	Sr. No.	Particulars	As at March 31,2024		As at March 31, 2023
	1.	Bank Guarantee	Nil		Nil
	2.	Claims against the company not acknowledged as debt	Nil		Nil
	3.	Other money for which the company is contingently liable	Nil		Nil
(b)	Commitments
	Particulars			As at March 31,2024		As at March 31, 2023
	Estimated amount of contracts remaining to be executed on capital account not provided for before adjusting advances paid.			Nil		Nil

34. Earnings per Share

Basic earnings per share are calculated by dividing the net profit for the period (excluding other comprehensive income) attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the financial year.

f) Other Notes on Accounts

(i) Estimated amount of contracts remaining to be executed on Capital Rs. NIL

(ii) We have relied on internal evidences certified by management, in case where external evidences in respect of expenses are not available.

(iii) Previous year''s figures have been regrouped / reclassified and rearranged wherever necessary to correspond with the current year''s classification / disclosure.

(iv) Details of Benami Property held: There are no proceedings which have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(v) There are no borrowings from banks or financial institution and company do not required to give additional information required by Schedule III.

(vi) Wilful Defaulter: The Company has not been declared as Wilful Defaulter by any Bank or Financial Institution or other Lender.

(vii) Relationship with Struck off Companies: There are no transactions with companies where names have been struck off under section 248 of Companies Act, 2013 of Companies Act, 1956 in the financial years ended March 31, 2024 and March 31, 2023.

(viii) Compliance with number of layers of companies: The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

(ix) Compliance with approved Scheme(s) of Arrangements: The Company has not entered into any such arrangements during the year.

(x) Utilisation of Borrowed funds and share premium: No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has also not received any fund from any parties (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(xi) Undisclosed Income: The Company does not have any transactions 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). Also, there are nil previously unrecorded income and related assets.

(xii) Details of Crypto Currency or Virtual Currency: The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

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Mar 31, 2018

1. CORPORATE INFORMATION:

Arvee Laboratories (India) Ltd. ("the company") is a listed entity incorporated in India.

The addresses of its registered office is 49/3 B, Shyamal Row Houses, 100 FT Road, Nr Sanjay Tower, Satellite, Ahmedabad, Gujarat, India.

During the Financial Year 2017-18 Fresh 1,460,000 equity shares of Rs. 10/- each were issued and alloted @ Rs. 61/- Per share fully paid (Face Value of Rs. 10/- each at premium of Rs. 51/- per share).

b. Terms / Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The company 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 ensuing annual general meeting.

During the year ended 31st March 2018, No dividend is declared by Board of Directors. (Previous year - Nil)

c. Shares held by Holding / Ultimate holding company and/or their subsidiaries/associates: Not Applicable

d. Shares reserved for issue under options: NIL

e. Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares brought back during the period of five years immediately preceding the reporting date: NIL

f. Securities convertible into equity / preference shares issued along with the earliest date of conversion: NIL

g. Forfeited Shares : NIL

The details of security of the long term borrowings are set out below :

Description of Security offered to Standard Chartered Bank by way of Exclusive first charge of the following property/assets: |

1. Hypothecation of Plant and Machinery of the company.

2. Registered Mortgage over the company''s 1. R.S. No. 316 paiki Plot No 1 area admeasuring about 7183 sq mtr with construction thereon mouje kardej Ta. & Dist Bhavnagar, 2. residential flat No 403, Kailash Apartment, Nr. Gogha Circle, Bhavnaghar & residential flat No 103, Pruthvi Plaza, Nr Gogha Circle, Bhavnagar.

3. First charge on entire current assets of the company including Raw Materials, Stock in process, Finished goods, spares & Receivables (not more than 90 days) present and future.

4. Personal Guarantee of Directors

Rate of Interest & Repayment terms of Loans:

1. Term Loans taken from Standard Chartered Bank bear 10.35% rate of interest per annum.

2. Term Loans taken from Standard Chartered Bank are repayable in 60 monthly installments.

Rate of Interest & Repayment terms of Unsecured loans taken from Directors:

1. Unsecured Loans taken from Directors bear 15% rate of interest per annum

2. Unsecured Loans taken from Directors are repayable after 5 years from the date of acceptance.

Rate of Interest & Repayment terms of Unsecured loans taken from Related parties:

1. Unsecured Loans taken from Related Parties bear 15% rate of interest per annum.

2. Unsecured Loans taken from Related Parties are repayable after 5 years from the date of acceptance.

The details of security of the Short term borrowings are set out below :

Description of Security offered to Standard Chartered Bank by way of Exclusive first charge of the following property/assets:

1. Hypothecation of Plant and Machinery of the company.

2. Registered Mortgage over the company''s 1. R.S. No. 316 paiki Plot No 1 area admeasuring about 7183 sq mtr with construction thereon mouje kardej Ta. & Dist Bhavnagar, 2. residential flat No 403, Kailash Apartment, Nr. Gogha Circle, Bhavnaghar & residential flat No 103, Pruthvi Plaza, Nr Gogha Circle, Bhavnagar.

3. First charge on entire current assets of the company including Raw Materials, Stock in process, Finished goods, spares & Receivables (not more than 90 days) present and future.

4. Personal Guarantee of Directors

Rate of Interest & Repayment terms of Loans:

1. Cash Credit Loans taken from Standard Chartered Bank bear 10.15% rate of interest per annum.

2. Short Term Loans taken from Standard Chartered Bank are repayable on demand.

2.0. NOTES TO ACCOUNTS:

3. Figures of previous year are regrouped and rearranged whenever necessary and rounded off to the nearest rupee for better presentation of accounts. The notes referred in the balance sheet and profit and loss statement form an integral part of the accounts. The Debit and Credit balances of debtors, creditors, loans and advances and unsecured loans are subject to confirmation and reconciliation.

4. In the opinion of the Directors, and to the best of their knowledge and belief, the value of realization of current assets and loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the balance sheet. Provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

5. The Micro, Small and Medium Enterprises Development Act, 2006 is operational w.e.f. 02.10.2006. Since the company does not possess the relevant data regarding the Micro, Small and Medium Enterprises, we are unable to report thereon.

6. Considering the nature of Company''s business and operation, there are no separate reportable segments (business or geographical) in accordance with the requirements of Accounting Standard 17 -"Segmental Reporting".