Basis for Exemption

The exemption applies because the company's paid-up equity share capital does not exceed ₹10 crore and net worth does not exceed ₹25 crore as on March 31, 2026 (the last day of the previous financial year). Specifically, Regulation 23(9) regarding disclosures of related party transactions is not applicable for the half year ended September 30, 2026.

Auditor Certification

The company enclosed a certificate from M/s G. K. Tulsyan & Co (Firm Registration Number: 323246E), Statutory Auditors of the company, confirming non-applicability based on audited financial statements for financial years ended March 31, 2024, March 31, 2025, and March 31, 2026.

Financial Details (Net Worth Calculation)

The auditor's certificate includes detailed net worth calculations for the previous three financial years:

March 31, 2024:

  • Paid-up Equity Share Capital: ₹1.45 crore
  • Retained Earnings: ₹8.22 crore
  • Calculated Net Worth: ₹9.67 crore

March 31, 2025:

  • Paid-up Equity Share Capital: ₹1.45 crore
  • Retained Earnings: ₹10.98 crore
  • Calculated Net Worth: ₹12.43 crore

March 31, 2026:

  • Paid-up Equity Share Capital: ₹1.45 crore
  • Retained Earnings: ₹11.59 crore
  • Calculated Net Worth: ₹13.04 crore

Excluded Items from Net Worth Calculation:

  • Capital Reserves-Restructuring of Debt (₹13.30 crore all three years): Not included as it was created for restructuring of debt under BIFR revival scheme, not from profits.
  • Capital Redemption Reserve (₹1.33 crore all three years): Not included as it is not a distributable reserve.
  • Other Comprehensive Income (₹0.24 crore in 2024, ₹0.29 crore in 2025, ₹0.34 crore in 2026): Not included as it represents notional profit per IND AS-19.

Company Undertaking

The company undertakes that if corporate governance provisions become applicable at a later date, it will ensure compliance within the prescribed timeline of six months from the date of applicability in accordance with SEBI (LODR) Regulations, 2015.

Registered Offices

  • Head Office: Damodar House, 1/A Vansittart Row, 1st Floor, Kolkata-700 001, West Bengal
  • Registered Office & Works: Plot No. 34-38, KIADB Industrial Area, Sathyamangala, Tumkur-572104, Karnataka
  • Corporate Office: No. 34, 2nd Floor, Gold Coin Building 1, Meanee Avenue Road, Ulsoor, Bangalore-560 042, Karnataka