Birla TransAsia Carpets FY23 Annual Report Filing

Revenue: ₹0 for FY23 (₹1,01,180 for FY22)
Total Expenditure: ₹1,571 for FY23 (₹2,08,399 for FY22)
Net Loss Before Tax: ₹(1,571) for FY23 (₹(1,07,219) for FY22)
Net Loss After Tax: ₹(1,571) for FY23 (₹(1,07,219) for FY22)
Earnings Per Share (Basic & Diluted): ₹(0.00) for FY23 (₹(0.04) for FY22)
Cash Flow from Operations: ₹0.13 for FY23 (₹(2,52,288) for FY22)

Total Assets: ₹2,30,34,255 (₹2,30,35,826 as at 31st March 2022)
Non-Current Assets: ₹1,18,94,355 (includes loans ₹93,36,470, other financial assets ₹11,69,630, other non-current assets ₹13,88,255)
Current Assets: ₹1,11,39,901 (includes trade receivables ₹35,60,795, cash ₹1,51,648, other current assets ₹56,85,108, current tax assets ₹17,42,350)
Total Equity: Negative ₹(27,01,30,685) (Negative ₹(27,01,29,114) as at 31st March 2022)
Equity Share Capital: ₹2,83,50,290
Other Equity: Negative ₹(29,84,80,975)
Non-Current Liabilities: ₹10,68,506 (provisions for employee benefits)
Current Liabilities: ₹29,20,96,434
Borrowings: ₹24,07,37,829 (unsecured, due to related parties)
Trade Payables: ₹1,65,00,686
Other Current Liabilities: ₹3,48,57,919

Company generated zero revenue during FY23 compared to ₹0.01 Crores in previous year
Trading in company securities suspended by BSE effective 19 July 2017 for non-compliance with Regulation 55A of SEBI (Depositories and Participants) Regulations 1996
Company had referred to BIFR on 04/11/1991, but proceedings abated after repeal of SICA effective 1 December 2016

Central Excise Act, 1944: Excise duty ₹13,32,900 (2003-04 & 2004-05) + Interest ₹14,76,000
Delhi Sales Tax Act, 1975: Interest ₹6,64,011 (2005-07) + Sales tax ₹14,67,631 (2004-05)
Fringe Benefit Tax: ₹1,84,443 (2006-07 & 2008-09)
Income Tax Act, 1961: TDS ₹1,84,143 (2016-18)
SEBI Regulations: Annual listing fees ₹6,86,860 (2014-18)
Employees State Insurance Corporation: Final arrears of contribution ₹93,921 (May 2006-March 2011)

UP Sales Tax: Multiple disputes totaling ₹28,75,017.95 (1998-99 to 2011-12) pending with Joint Commissioner/Deputy Commissioner of State Tax
Delhi Sales Tax Act, 1975: Multiple disputes totaling ₹33,94,397 (1985-86 to 2004-05) pending with Deputy Commissioner of Sales Tax (Appeal) Delhi

Authorized Capital: 70,00,000 equity shares of ₹10 each (₹7,00,00,000)
Issued, Subscribed & Paid-up: 28,35,029 equity shares of ₹10 each (₹2,83,50,290)
Promoter Holding: 58.79% (16,66,645 shares)
Nirved Traders Private Limited: 16.20%
Birla Bombay Private Limited: 16.86%
Zenith Birla (India) Limited: 15.36%
Godavari Corporation Private Limited: 10.28%
Laxmi Properties Private Limited: 0.09%

Advances given to related parties: ₹93,36,470
No sales, purchases, payments for expenses, salary, director remuneration, or loans taken from related parties during the year

Company not conducted AGM for year ended 31.03.2022
No women director on Board as required under Section 149(1)
Non-compliance with Section 203(1) regarding appointment of CFO and Company Secretary
No independent directors on Board
Audit Committee and Nomination and Remuneration committee not constituted
Statutory registers not updated
Annual Return and Annual Accounts for FY22 not filed with ROC
MGT-14 not filed for approval of financial statement and Board reports
No internal audit system as required under Section 138
Multiple statutory dues overdue including Central Excise, Income Tax, Sales Tax, Provident Fund, ESIC

Directors: Mr. Arun Singhi (DIN: 00309207) and Mr. Satya Kishore Mathur (DIN: 06656998)
Seven Board meetings held during the year
No dividend declared for FY23 due to accumulated losses
Directors' Responsibility Statement provided under Section 134(5)

Company has negative net worth of ₹(27.01 crore)
Significant outstanding liabilities of ₹29.31 crore
Cash and bank balance of only ₹1,51,648
Auditor's going concern assessment: No material uncertainty identified but not assurance of future viability