Mar 31, 2025
11. PROVISIONS. CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provision is made in the books of account where there is a present obligation as a result of past event that probably requires an outflow
of resources and reasonable estimate can be made.
A disclosure for contingent liability is made when there is a possible obligation or present obligation that arises from past event and the
outflow of resources embedding economic benefit is not probable. A contingent liability or a provision at the balance sheet date is not
disclosed or recognised if the possibility of any outflow of resources in settlement is remote
Contingent Asset is not recognised in financial statements since this may result in recognition of Income that may never be realised.
However when the realisation of income is virtually certain then the related asset is not a Contingent Asset and is recognised.
Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet Date.
12. FINANCIAL INSTRUMENTS
Initially Financial Assets and Financial Liabilities are recognised at transaction cost directly attributable to their acquisition.
Financial Assets
Financial assets comprises of Trade Receivable at their transaction price, if they do not contain a significant financing component.
The company de-recognises a financial asset only when the contractual rights to the cash flows from the financial asset expires or it
transfers the financial assets and transfer qualifies for de-recognition.
Financial Liabilities
Financial liabilities of the nature of trade and other payable maturing within one year from the balance sheet date, carrying amount is
considered as fair value, as it approximates fair value due to the short term maturity of these liabilities.
A financial liability is de-recognised when the obligation is discharged, cancelled or expires.
Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amounts are presented in the financial statements, if there is a currently
legal enforceable right to offset the recognized amount and the company intends to settle or realize on net basis.
13. LEASES
The company holds a Land, where the factory is situated, which is owned by the Government of Andra Pradesh and leased to the
company for use for industrial purpose only.
14. CASH AND CASH EQUIVALENTS
Cash and Cash Equivalents includes ''Cash on Hand, Demand deposits with banks, Other short term highly liquid investments with
original maturities of 3 months or less that are readily convertible into known amounts of cash and which are subject to an insignificant
risk of changes in value.
15. EARNINGS PER SHARE (EPS)
Earnings Per Share (EPS) is computed by diving net profit attributable to the equity share holders by the weighted average number of
equity shares outstanding during the year.
16. STATEMENT OF CASH FLOWS
Cash flows are reported using indirect method, whereby net profits before tax is adjusted for the effects of transactions of a non cash
nature and any deferrals or accruals of past or future cash receipts or payments and items of income or expenses associated with
investing or financing cash flows. The cash flows from regular revenue generating (operating activities) investing and financing
activities of the company are segregated.
Rights, Preferences and Restrictions attached to Equity Shares:
The Company has equity shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to
one vote per share. The Company declares and pays dividend in Indian Rupees. The final dividend proposed by the
Board of Directors is subject to the approval of the Share Holders at the ensuing Annual General Meeting. In the
event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of
the Company after distribution of preferencial amount, in proportion of their share holding.
Capital Management
Company''s capital management objectives are to :
- ensure the company''s ability to continue as a going concern
- provide an adequate return to shareholders by pricing products and services commensurately with the level of risk
For the purposes of the Company''s Capital Management, capital includes issued capital and all other equity reserves. Company manages its capital structure and makes adjustments in the light of
changes in economic environment and the requirements of financial covenants.
Financial Risk Management Framework
Company''s activities expose it to financial risks viz credit risk and liquidity risk.
Credit Risk
Based on the overall credit worthiness of Receivables, coupled with their past track record, Company expects No / Minimum risk with regards to its outstanding receivables. Also, there is a
mechanism in place to periodically track the outstanding amount and assess the same with regards to its realisation. Company expects all the debtors to be realised in full, and accordingly, no
provision has been made in the books of accounts for doubtful receivables.
Liquidity risk
(i) Liquidity Risk management
The Company manages liquidity risk by maintaining adequate reserves, banking facilities and by continuously monitoring and forecasting actual cash flow and by matching the maturity profiles of
financial assets and liabilities.
(ii) Maturities of Financial Liabilities
The following tables contains details of the Company''s remaining contractual maturities for its non-derivative financial liabilites with agreed repayment periods. The amount disclosed in the tables
have been drawn up based on the earliest date on which the Company can be required to pay. Financial Liabilities include Trade Payables, Capital Purchases, Unpaid / Unclaimed Dividends etc.,
which are in the normal course of business having maturity plan of less than one year and non interest bearing.
Additional Regulatory Information
2.40 All the title deeds of the Immovable property are in the name of the Company.
2.41 The Company has not revalued any of the property plant and equipment.
°° 2.42 The Company has not granted any Loans or advances in the nature of loans to promoters, Directors, KMPs and the related parties either severally or jointly with any other person that are
repayable on demand or with out specifying any terms or period of repayment.
2.43 During the year or in earlier year the company has not undertaken any Capital works which are in progress neither there are any Intangible assets which are under progress hence not reported.
2.44 There are no proceedings initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there
under.
2.45 The Company has borrowings from Banks on the basis of security of Current Assets. Quarterly returns/statements of current assets filed by the Company with the Bank are in agreement in
respect of stock of raw-material and finished goods. In respect of Trade Receivables and Trade Payables variance in the following quarters are noticed.
2.54 The company does not have any income which is not recorded in the books of accounts that has been surrendered or disclosed as income in any of the tax assessments under the Income Tax Act,1961.
As per our report of even date For and on behalf of the board
for NATARAJA IYER & CO., Sd/-
Chartered Accountants (MEADEM SEKHAR)
ICAI FRN : 002413S Whole Time Director & CEO (Din No. 02051004)
Sd/- Sd/-
(E. SRIRAN GANATH) (MADDI VENKATESWARA RAO)
Partner Director (Din No.00013393)
M.No : 013924
Sd/-
(KOTHURI SATYANARAYANA)
Chief Financial Officer
oo
Sd/-
(RADHA RANI SINGHAL)
Company Secretary (M.No. A68523)
Place : CHILAKALURIPET Place : CHILAKALURIPET
Date : May 28, 2025. Date : May 28, 2025.
Mar 31, 2024
10. PROVISIONS AND CONTINGENCIES
Provision is made in the books of account where there is a present obligation as a result of past event that probably requires an outflow
of resources and reasonable estimate can be made.
A disclosure for contingent liability is made when there is a possible obligation or present obligation that arises from past event and the
outflow of resources embedding economic benefit is not probable.
A contingent liability or a provision at the balance sheet date is not disclosed or recognised unless the possibility of any outflow of
resources in settlement is remote
Contingent Assets are neither recognised nor disclosed in the financial statements.
11. FINANCIAL INSTRUMENTS
A financial instrument is any contract that gives rise to a financial asset of one entity and financial liability or equity instrument of
another entity. Financial instruments are recognized as financial assets and financial liabilities are recognized when the company
becomes a party to the contractual provisions of the instrument. Initially a financial instrument is recognized at its fair value.
Transaction costs directly attributable to the acquisition of financial assets and financial liabilities at fair value through profit or loss are
immediately recognized in the Statement of Profit and loss. Subsequently,financial instruments are measured according to the category
in which they are classified.
Financial Assets
Financial assets other than equity instruments are classified into financial assets at fair value through profit or loss and at ammortised
cost using effective interest rate method.
The company subsequently measures the trade receivable at their transaction price, if they do not contain a significant financing
component.
The company de-recognises a financial asset only when the contractual rights to the cash flows from the financial asset expires or it
transfers the financial assets and transfer qualifies for de-recognition under Ind AS 109.
Financial Liabilities
Financial liabilities are classified into financial liabilites at fair value through profit or loss and at ammortised cost using effective
interest rate method.
For trade and other payables maturing within one year from the balance sheet date, carrying amount is considered as fair value, as it
approximates fair value due to the short term maturity of these liabilities.
A financial liability is de-recognised when the obligation is discharged, cancelled or expires.
Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amounts are presented in the financial statements, if there is a currently
legal enforceable right to offset the recognized amount and the company intends to settle or realize on net basis.
12. IMPAIRMENT OF ASSETS
At each balance sheet date, the company assesses whether there is any indication that any asset may be impaired. If any indication
exists, the recoverable amount of such assets is estimated to determine the extent of impairment, if any. Where it is not possible to
estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of Cash Generating Unit to
which the asset belongs.
Recoverable amount is the higher of fair value less cost to sell and value in use. In assessing value in use, the estimated future cash
flows are discounted to present value using a pre-tax discount rate that reflects current market assessment of the time value of money
and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount of the
asset or cash generating unit is reduced to its recoverable amount. An impairment loss is recognised immediately in the Statement of
Profit and Loss.
13. LEASES
At the inception of lease, the lease arrangement is classified as either as finance lease or an operating lease, based on the substance of
the lease arrangement. Assets taken on operating lease, lease payments made are recognized in the Statement of Profit and Loss on
straight-line basis over the term of lease.
14. FAIR VALUE MEASUREMENT
Fair value is the price that is received / paid to buy / sell an asset or to transfer a liability, as the case may be, in an orderly transaction
between market participants at the measurement date in the principal market or in its absence most advantageous market or, in its
absence, the most advantageous market to which the Company has access at that date. The fair value of a liability also reflects its
nonperformance risk.
While measuring the fair value of an asset or liability, the Company uses observable market data as far as possible. Fair values are
categorised into different levels in a fair value hierarchy based on the inputs used in the valuation technique as follows:
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: inputs other than quoted prices included in Level 1 that are observable for the assets or liability, either directly (i.e. as prices)
or indirectly (i.e. derived from prices)
Level 3: inputs for the assets or liability that are not based on observable market data (unobservable inputs)
15. Accounting policies not specifically referred above are consistent with generally accepted Accounting practices.
Financial Risk Management Framework
Company''s activities expose it to financial risks viz credit risk and liquidity risk.
Credit Risk
Based on the overall credit worthiness of Receivables, coupled with their past track record, Company expects No / Minimum risk with regards to its outstanding receivables. Also, there is a
mechanism in place to periodically track the outstanding amount and assess the same with regards to its realisation. Company expects all the debtors to be realised in full, and accordingly, no
provision has been made in the books of accounts for doubtful receivables.
Liquidity risk
(i) Liquidity Risk management
The Company manages liquidity risk by maintaining adequate reserves, banking facilities and by continuously monitoring and forecasting actual cash flow and by matching the maturity profiles of
financial assets and liabilities.
(ii) Maturities of Financial Liabilities
The following tables contains details of the Company''s remaining contractual maturities for its non-derivative financial liabilites with agreed repayment periods. The amount disclosed in the tables
have been drawn up based on the earliest date on which the Company can be required to pay. Financial Liabilities include Trade Payables, Capital Purchases, Unpaid / Unclaimed Dividends etc.,
which are in the normal course of business having maturity plan of less than one year and non interest bearing.
2.41 All the title deeds of the Immovable property are in the name of the Company and there are no such title deeds which are not held in the name of the Company
2.42 The Company has not revalued any of the property plant and equipment.
2.43 The Company has not granted any Loans or advances in the nature of loans to promoters, Directors, KMPs and the related parties either severally or jointly with any other person that are
repayable on demand or with out specifying any terms or period of repayment.
2.44 During the year or in earlier year the company has not undertaken any Capital works which are in progress neither there are any Intangible assets which are under progress hence not reported.
2.45 There are no proceedings initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there
under.
2.46 The Company has borrowings from Banks on the basis of security of Current Assets. All the information submitted to the bank is as per the books of accounts and not found any deviations.
2.47 The Company has not been declared as willful defaulter by any bank or financial institution or other lender.
2.48 During the year the Company does not have any transactions with companies struck off under section 248 of Companies Act,2013 or section 560 of the Companies Act,1956.
2.49 There are no charges or satisfaction pending for registration with the Registrar of companies beyond the statutory period.
2.50 The Company has no subsidiaries, hence violation of provisions of clause (87) of Section 2 of the Act read with Companies (Restriction on number of layers) Rules,2017 does not arise.
2.51 The Company has not applied for any approved scheme or arrangements in terms of sections 230 to 237 of the Companies Act, 2013.
2.52 The company has neither advanced or loaned or invested funds (either borrowed funds or any other sources or kind of funds) to any other person(s), entities including foreign entities nor received any fund from any person including
foreign entities with the understanding that the intermediary shall
(i) 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
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(a) Current Ratio has reduced due to increase in short term borrowings and reduction in cash and cash equivalents.
(b) Debt Equity Ratio has increase due to incrase in short term borrowings.
(c) Debt Service Coverage Ratio has increased due to increase in profits.
(d) Return on Equity has increased due to increase in profits.
(e) Inventory Turnover has increased due to increase in turnover.
(f) Trade receivable turnover ratio has improved due to increase in turnover.
(g) Trade payables turnover ratio has improved due to reduction in trade payable.
(h) Net capital turnover has increased due to increased in turnover.
(i) Net profit ratio has increase due to increased in net profit.
(j) Return on Capital employed has increased due to profit.
** The company has only invested in post office savings certificate for Rs.850 only and not invested in any of these assets classes viz., Equity, fixed income generating instruments etc., As the
investment size is insignificant the ratio is not calculated
2.54 The company does not have any income which is not recorded in the books of accounts that has been surrendered or disclosed as income in any of the tax assessments under the Income Tax Act,1961
2.55 As per the provisions of section 135 of the Companies Act, the Company is not required to incur any amount towards Corporate Social Responsibility expenditure as it has incurred Loss in the immediately preceeding previous year.
( Company has incurred Corporate Social Responsibility expenditure of Rs.12.16 Lakhs in the previous year)
2.56 The accounting software used for recording accounting transactions has audit trail of each and every transaction creating an edit log of each change in the books of accounts along with the date when such changes are made and the
audit trail is not disabled at the database level and the application layer of the accounting software relating to revenue, trade receivables and general ledgers.
As per our report of even date For and on behalf of the board
for NATARAJA IYER & CO., Sd/-
Chartered Accountants (MEADEM SEKHAR)
ICAI FRN : 002413S Whole Time Director & CEO (Din No. 02051004)
Sd/- Sd/-
(E.SRI RANGANATH) (MADDI VENKATESWARA RAO)
Partner Director (Din No.00013393)
M.No : 013924
Sd/-
(KOTHURI SATYANARAYANA)
Chief Financial Officer
Sd/-
(RADHA RANI SINGHAL)
Company Secretary
Place : HYDERABAD Place : CHILAKALURIPET
Date : May 29, 2024. Date : May 29, 2024.
Mar 31, 2015
1. Segment Wise Information:
The company has identified two reportable segments viz. Seed
Processing and Wind Turbine. Segments have been identified and
reported taking into account the nature of products and services, the
differing risks and returns and the internal business reporting
system. The accounting policies adopted for segment reporting are in
line with the accounting policies of the company.
2. There are no Micro, Small and Medium Enterprises, to whom the
Company owes. This information as required to be disclosed under
Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have identified on the basis of
information available with the Company.
E-Voting instructions
Pursuant to the Provisions of Section 108 of the Companies Act, 2013
and Rule 20 of Companies (Management and Administration) Rules, 2014,
the Company is pleased to offer e-voting facility to the members to
cast their votes electronically on all resolutions set forth in the
Notice convening the 39th Annual General Meeting to be held on Friday,
14th August, 2015, at 10.30 AM. The Company has engaged the services
of Central Depository Services Limited (CDSL) to provide the E-Voting
facility.
The instructions for shareholders voting electronically are as under:
The E-Voting Sequence Number and period of E-Voting are set out below:
EVSN(E-VOTING SEQUENCE NUMBER) : 150720005 COMMENCEMENT OF E-VOTING :
11th August, 2015 at 09.00 A.M
END OF E-VOTING : 13th August, 2015 at 05.00 P.M
STEPS & INSTRUCTIONS FOR E-VOTING:
The instructions for shareholders voting electronically are as under:
(i) The voting period begins on 11th August, 2015 at 09.00 A.M and
ends on 13th August, 2015 at 05.00 P.M. During this period,
shareholders' of the Company, holding shares either in physical form
or in dematerialized form as on the cut-off date (record date) of 10th
August, 2015, may cast their vote electronically. The e-voting module
shall be disabled by CDSL for voting thereafter.
(ii) The shareholders should log on to the e-voting website
www.evotingindia.com.
(iii) Click on Shareholders.
(iv) Now Enter your User ID
a. For CDSL: 16 digits beneficiary ID,
b. Members holding shares in Physical Form should enter Folio Number
registered with the Company.
(v) Next enter the Image Verification as displayed and Click on Login.
(vi) If you are holding shares in demat form and had logged on to
www.evotingindia.com and voted on an earlier voting of any company,
then your existing password is to be used.
(vii) If you are a first time user follow the steps given below:
For Members holding shares in Demat Form
and Physical Form
PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax
Department (Applicable for both demat shareholders as well
as physical shareholders)
* Members who have not updated their PAN with the Company/
Depository Participant are requested to use the first two
letters of their name and the 8 digits of the sequence
number in the PAN field.
* In case the sequence number is less than 8 digits enter
the applicable number of 0's before the number after
the first two characters of the name in CAPITAL letters.
Eg. If your name is Ramesh Kumar with sequence number 1
then enter RA00000001 in the PAN field.
DOB Enter the Date of Birth as recorded in your demat account or
in the company records for the said demat account or folio
in dd/mm/yyyy format.
Dividend Enter the Dividend Bank Details as recorded in your demat
Bank account or in the company records for the said demat account
Details or folio.
* Please enter the DOB or Dividend Bank Details in order
to login. If the details are not recorded with the
depository or company please enter the member id / folio
number in the Dividend Bank details field as mentioned in
instruction (iv).
(viii) After entering these details appropriately, click on "SUBMIT"
tab.
(ix) Members holding shares in physical form will then directly reach
the Company selection screen. However, members holding shares in demat
form will now reach ÂPassword Creation' menu wherein they are
required to mandatorily enter their login password in the new password
field. Kindly note that this password is to be also used by the demat
holders for voting for resolutions of any other company on which they
are eligible to vote, provided that company opts for e-voting through
CDSL platform. It is strongly recommended not to share your password
with any other person and take utmost care to keep your password
confidential.
(x) For Members holding shares in physical form, the details can be
used only for e-voting on the resolutions contained in this Notice.
(xi) Click on the EVSN for the relevant
(xii) On the voting page, you will see "RESOLUTION DESCRIPTION" and
against the same the option "YES/NO" for voting. Select the option
YES or NO as desired. The option YES implies that you assent to the
Resolution and option NO implies that you dissent to the Resolution.
(xiii) Click on the "RESOLUTIONS FILE LINK" if you wish to view
the entire Resolution details.
(xiv) After selecting the resolution you have decided to vote on,
click on "SUBMIT". A confirmation box will be displayed. If you
wish to confirm your vote, click on "OK", else to change your
vote, click on "CANCEL" and accordingly modify your vote.
(xv) Once you "CONFIRM" your vote on the resolution, you will not
be allowed to modify your vote.
(xvi) You can also take out print of the voting done by you by
clicking on "Click here to print" option on the Voting page.
(xvii) If Demat account holder has forgotten the same password then
Enter the User ID and the image verification code and click on Forgot
Password & enter the details as prompted by the system.
(xviii) Note for Non - Individual Shareholders and Custodians
* Non-Individual shareholders (i.e. other than Individuals, HUF, NRI
etc.) and Custodian are required to log on to www.evotingindia.com and
register themselves as Corporates.
* A scanned copy of the Registration Form bearing the stamp and sign
of the entity should be emailed to [email protected].
* After receiving the login details a compliance user should be
created using the admin login and password. The Compliance user would
be able to link the account(s) for which they wish to vote on.
* The list of accounts should be mailed to
[email protected] and on approval of the accounts they
would be able to cast their vote.
* A scanned copy of the Board Resolution and Power of Attorney (POA)
which they have issued in favour of the Custodian, if any, should be
uploaded in PDF format in the system for the scrutinizer to verify the
same.
(xix) In case you have any queries or issues regarding e-voting, you
may refer the Frequently Asked Questions ("FAQs") and e-voting
manual available at www.evotingindia.com, under help section or write
an email to [email protected].
Mar 31, 2014
1. In the Opinion of the management there is no indication that
any of the assets of the company has been impaired. Accordingly no
loss on account of impairment has been recognized during the year in
terms of Accounting Standard 28- Impairment of assets.
2. CURRENT ASSETS, LOANS & ADVANCES :
The Board is of the opinion that the Current Assets, Loans and Advances
have a value on realization in the ordinary course of Business at least
to the amount at which they are stated.
3. RELATED PARTIES DISCLOSURES :
List of related parties with whom transactions have taken place during
the year :
i) Subsidiaries : Nil
ii) Associates :
a) Maddi Lakshmaiah & Co. Ltd.
b) M.L.Agro Products Ltd.
c) M.L.Exports
d) K.S.Subbiah Pillai & Co. (India) Ltd.
iii) Key Managerial Personnel :
a) Sri. M.Venkateswara Rao -- Managing Director
b) Sri. M.Lakshmaiah -- Chairman
c) Sri. M.Ramesh -- ExcutiveDirector
4. Segment Wise Information:
The company has identified two reportable segments viz. Seed Processing
and Wind Turbine. Segments have been identified and reported taking
into account the nature of products and services, the differing risks
and returns and the internal business reporting system. The accounting
policies adopted for segment reporting are in line with the accounting
policies of the company.
5. There are no Micro, Small and Medium Enterprises, to whom the
Company owes. This information as required to be disclosed under Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have identified on the basis of information
available with the Company.
B) Travelling expenses include Rs.49,305/- paid to Managing Director
(Previous Year Rs.56,895/-) and Rs.30,450/- paid to other Directors
(Previous year Rs. 33,300/-).
6. Previous year figures have been regrouped wherever necessary to
compare with current year figures.
Mar 31, 2013
1. CURRENT ASSETS, LOANS & ADVANCES :
The Board is of the opinion that the Current Assets, Loans and Advances
have a value on realization in the ordinary course of Business at least
to the amount at which they are stated.
2. RELATED PARTIES DISCLOSURES :
List of related parties with whom transactions have taken place during
the year:
i) Subsidiaries: Nil
ii) Associates:
a) Maddi Lakshmaiah & Co. Ltd.
b) M.L.Agro Products Ltd.
c) M.L. Exports
d) K.S.Subbiah Pillai & Co. (India) Ltd.
iii) Key Managerial Personnel :
a) Sri. M.Venkateswara Rao - Managing Director
b) Sri. M.Lakshmaiah -- Director
c) Sri. M.Ramesh -- Director
3. Segment Wise Information:
The company has identified two reportable segments viz. Seed Processing
and Wind Turbine. Segments have been identified and reported taking
into account the nature of products and services, the differing risks
and returns and the internal business reporting system. The accounting
policies adopted for segment reporting are in line with the accounting
policies of die company.
4. There are no Micro, Small and Medium Enterprises, to whom the
Company owes. This information as required to be disclosed under Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have identified on the basis of information
available with the Company.
Mar 31, 2010
1. SECURED LOANS :
a) Working Capital Limits sanctioned by Canara Bank are secured by
Hypothecation of Raw Materials. Consumable Stores, Finished Goods,
Book Debts and are also secured by a first charge on the fixed assets
of the Company. The secured loans from Canara Bank are further
guaranteed by Sri M. Venkateswara Rao, Managing Director, Sri M.
Lakshmaiah, Promoter Director and Sri M.Ramesh, Director in their
personal capacities.
b) The Term Loan from Canara Bank is secured by first charge on the
entire Fixed Assets of the company, both the existing and the proposed
to be acquired. It is further secured by way of personal guarantees of
Sri M. Venkateswara Rao, Managing Director, Sri M. Lakshmaiah, Promoter
Director and Sri M.Ramesh, Director in their individual capacities.
1A. UNSECURED LOANS :
Short-term Loan from ICICI Bank is guaranteed by Maddi Lakshmaiah &
Co.,Ltd., K.S. Subbiah Pillai & Co., Ltd., and M.L Information &
Technology Parks Pvt., Ltd., and is further guaranteed by way of
personal guarantees by Sri M. Venkateswara Rao, Managing Director, Sri
M. Lakshmaiah, Director and Sri M. Raraesh, Director in their
individual capacities.
2. In the Opinion of the management there is no indication thai any of
the assets of the company has been impaired. Accordingly no loss on
account of impairment has been recognized during the year in terms of
Accounting Standard 28- Impairment of assets.
3. CURRENT ASSETS, LOANS & ADVANCES :
The Board is of the opinion that the Current Assets, Loans and Advances
have a value on realization in the ordinary course of Business at least
to the amount at which they arc stated.
4. RELATED PARTY DISCLOSURES :
List of related parties with whom transactions have taken place during
the year :
i) Subsidiaries: Nil
ii) Associates:
a) Maddi Lakshmaiah & Co. Ltd.
b) M.L.Agro Products Ltd.
c) K.S.Subbiah Pillai & Co. (India) Ltd.
iii) Key Managerial Personnel:
a) Sri, M.Venkateswara Rao - Managing Director
b) Sri. M.Lakshmaiah - Director
c) Sri. M.Ramesh - Director
5. There are no Micro, Small and Medium Enterpriscs, to whom the
Company owes. This information as required to be disclosed under Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have identified on the basis of information
available with the Company.
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