Corporate Information

Jigar Cables Limited was originally formed and registered as a partnership firm under the Partnership Act, 1932 (-Partnership Act) in the name and style of “M/s. Jigar Industries” Pursuant to a deed of partnership dated September 05, 1997. The name was changed to M/s Jigar Cables from M/s Jigar Industries Pursuant to Partnership deed dated 01.01.2017. Thereafter, Jigar Cables was converted form a partnership firm to a public limited company under part 1 of chapter XXI of the companies Act 2013 with the name of “Jigar Cables Limited” whereby the partners of the partnership firm became shareholders with the shareholdings as agreed amongst the partners and received a fresh certificate of incorporation from the Registrar of companies, central Registration Centre on February 07, 2017 Hence, The First Financial year 2016-17 is for a period of 53 days (starting from February 07, 2017 to March 31, 2017) and Financial year 2017-18 is a full Operative year for the company.

The Company is engaged mainly in the business of Manufacturing and Sale of Electric wires and cables as Strategic activity. The Company derives Interest Income and Rental Income which is noncore and non-strategic in nature.

(a) Terms/Rights attached to equity shares

During the year, the company has allotted 18,64,000 shares on 28/07/2017 through Initial Public Offering (IPO) process each having face value Rs. 10 per share at a security premium of Rs. 20 per share.

The company has also allotted 6,68,000 shares on 17/05/2017 through Preferential Allotment process each having face value Rs. 10 per share at a security premium of Rs. 20 per share.

The Company has only one class of equity shares having face value of each share Rs. 10. The Equity share Holder is entitled to Cast one Vote

Per Share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by shareholders.

C) Statement showing shareholders holding more than 5 per cent shares in the company

2 - DEFERRED TAX ASSETS / LIABILITIES

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act, 1961. Deferred tax resulting from “timing differences” between taxable and accounting income is accounted for using the tax rate and laws that are enacted or substantively enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a virtual certainty that the asset will be realized in future.

In compliance with Accounting Standard - 22 (AS - 22) on “Accounting for Taxes on Income’’ issued by the Institute of Chartered Accountants of India, Net Deferred Tax assets of Rs.45,492/- is recognized during the year.

Cash Credit:-

I. Primary Security:

Cash Credit: First hypothecation charge on entire current assets of the company (both present & future).

II. | It is repayable on demand

Unsecured Loans - Promoters Group

I. It is repayable on demand

II. | No Interest is paid on unsecured Loans