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VARVEE GLOBAL LIMITED — Capital/Financing Update 2021
Oct 1, 2021
60854_rns_2021-10-01_3603ffc6-454c-4040-ae46-a44ec24bb0c5.pdf
Capital/Financing Update
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01.10.2021
To, The Manager (Listing) The Manager (Listing) The Bombay Stock Exchange Ltd. The National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, “Exchange Plaza” Dalal Street, Bandra-Kurla Complex Mumbai – 400 001 Mumbai – 400 051 Company Code: 514274 (BSE) Company Code: AARVEEDEN (NSE)
SUB. : Newspaper Cutting –Form DPT 1 Circular or Circular in the form of advertisement inviting unsecure deposit
Dear Sir/ Madam,
With reference to above captioned subject, please find herewith Newspaper advertisement for Form DPT-1 Circular of Circular in the form of advertisement inviting unsecured deposit published in the Indian Express (English) Newspaper on 30[th] September, 2021 and the Financial Express (Gujarati) newspaper addition published on 30[th] September, 2021.
This is for your kind perusal and record. Kindly acknowledge the receipt of above.
Thanking you.
Yours faithfully,
For, Aarvee Denims & Exports Limited
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Rahul Makwana Company Secretary & Compliance Officer Encl: As above
G 15 UJARAT
WWW.INDIANEXPRESS.COM THEINDIANEXPRESS, THURSDAY,SEPTEMBER30,2021
Three arrested for tying up, injuring leopard in Dahod
restedaftervideosoftheincident Soon after being captured, tured the leopard and tied it up, PRESSTRUSTOFINDIA thattookplaceatDudhamalivilthe leopard freed itself and ininjuringitintheprocess,hesaid.A DAHOD,SEPTEMBER29 lageonSeptember25,wentviral juredtwooftheaccusedandhid dayaftertheincident,videoswent on social media, an official of inafarm,theofficialsaid,adding viral and the forest department THREE PERSONS were arrested Dhanpurrangeforestsaid. that the animal was later caplaunchedaninvestigation. forallegedlycapturingandinjurInoneofthevideos,somevilturedbyaforestteamandtaken Two of the accused were ing a leopard after tying its legs lagers can be seen tying the anitoarescuecentreatBarmoli. nabbedonMondayandthethird witharopeinGujarat’sDahoddismal’slegsusingaropeandsticks, According to the official, the one was apprehended on trict,anofficialsaidonWednesday. while another clip shows the leopardcausedpanicinthevillage Tuesday,hesaid,addingthatthe The accused Amarsinh leopard lying in the field with its afterenteringafarmonSeptemtrio have been booked under Mohaniya, Bhurabhai Sangada, legstiedand somevillagerspokber25,andattackedaperson. variousprovisionsoftheWildlife andRoopsinhChauhanwerearingitwithsticks,itwasstated. Theaccusedchasedandcap(ProtectionAct),1972.
Gold worth Rs 51.56 lakh ‘stolen’ from Rajkot jewellery
Police said the theft was reunitusedtostoregoldandfound surveillance system installed in EXPRESSNEWSSERVICE ported from Malik Jewellers, a that 1.172 kg of gold worth Rs the jewellery manufacturing RAJKOT,SEPTEMBER29 gold jewellery manufacturing 51.56lakhwasmissing,”saidCG unit and damaged two CCTV firm run by one Shariful Malek Joshi, inspector in charge of ‘A’ cameras,”theinspectorsaid. THEIVESBROKEintoagoldjewin Savjibhai Sheri in Soni Bazar, Divisionpolicestationinthecity. “We are ascertaining if he ellerymanufacturingunitinSoni thejewellerybusinessdistrictin JoshisaidthatthethievesapgoldstolenbelongedtothemanBazar of Rajkot city and made Rajkotcity. parentlyenteredMalekJwellers ufacturer of some third-party awaywithmorethanakilogram “Malek went to his unit at 9 from an adjoining building and jewelleryretailers,”headded. ofgoldworthRs51.56lakhalong am on Wednesday when he that the theft took place beBased on a police complaint with a digital video recorder found the doors were bolted tween 2.30 am and 3am filedbyMalek,‘A’Divisionpolice (DVR) of the CCTV surveillance frominside.Hecheckedthesafes Wednesday. “The thieves also have booked unidentified men networkearlyonWednesday. inwhichartisansworkinginhis took away the DVR of a CCTV undervariousIPCsections.
| AARVEE DENIMS AND EXPORTS LIMITED CIN: L17110GJ1988PLC010504 Regd. Office: 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405 Tel No:+91-79-68147000, 30017000Fax: 91-79-68147070 E-mail: [email protected]Website: www.aarvee-denims.com |
AARVEE DENIMS AND EXPORTS LIMITED CIN: L17110GJ1988PLC010504 Regd. Office: 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405 Tel No:+91-79-68147000, 30017000Fax: 91-79-68147070 E-mail: [email protected]Website: www.aarvee-denims.com |
AARVEE DENIMS AND EXPORTS LIMITED CIN: L17110GJ1988PLC010504 Regd. Office: 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405 Tel No:+91-79-68147000, 30017000Fax: 91-79-68147070 E-mail: [email protected]Website: www.aarvee-denims.com |
AARVEE DENIMS AND EXPORTS LIMITED CIN: L17110GJ1988PLC010504 Regd. Office: 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405 Tel No:+91-79-68147000, 30017000Fax: 91-79-68147070 E-mail: [email protected]Website: www.aarvee-denims.com |
AARVEE DENIMS AND EXPORTS LIMITED CIN: L17110GJ1988PLC010504 Regd. Office: 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405 Tel No:+91-79-68147000, 30017000Fax: 91-79-68147070 E-mail: [email protected]Website: www.aarvee-denims.com |
AARVEE DENIMS AND EXPORTS LIMITED CIN: L17110GJ1988PLC010504 Regd. Office: 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405 Tel No:+91-79-68147000, 30017000Fax: 91-79-68147070 E-mail: [email protected]Website: www.aarvee-denims.com |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
circular or advertisement is valid: 1. Date of opening the scheme: 30th September 2021. 2. Time period for which the circular or advertisement is valid: The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30th September, 2021 or the date of the Company’s annual general meeting, whichever is earlier. c. Reasons or objects of raising the deposits: For meeting short term and medium term financial requirements of the Company. d. Credit rating obtained: |
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| FORM DPT-1 CIRCULAR OR CIRCULAR IN THE FORM OF ADVERTISEMENT INVITING UNSECURED DEPOSITS 1. GENERAL INFORMATION : a. Name, address, website and other contact details of the company; AARVEE DENIMS AND EXPORTS LIMITED Regd. Office: 191, Shahwadi, Narol- Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad – 382 405. Tel No:+91-79-68147000, 30017000 Fax: 91-79-68147070 E-mail: [email protected] Website: www.aarvee-denims.com CIN: L17110GJ1988PLC010504 b. Date of incorporation of the company: 28th March, 1988. c. Business carried on by the company and its subsidiaries with the details of branches or units, if any: i. Business carried on by the company:- The Company is one of the leading manufacturer and exporter of den- ims and non-denims fabrics and denims apparels ii. Units of the company: [Pursuant to section 73 (2)(a) and section 76 and rule 4(1) and 4(2) of the Companies (Acceptance of Deposits) Rules, 2014 ] |
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| Name of the Credit RatingAgencies | India Ratings & Research | ||||||||||||||||||
| Ratingobtained | IND tA-/Stable | ||||||||||||||||||
| Meaning of the rating obtained | This means that the previous rating of downgraded is only continued for this year also |
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| Date | on which ratingwas obtained | 19-02-2021 | |||||||||||||||||
| e. ~~Extent of deposit insurance, Name of the Insurance Company~~ ~~, terms of the insurance coverage, duration of cov~~ ~~-~~ ~~erage, extent of coverage, procedure for claim in case of default etc~~ .;: The same is not applicable. f. Short particulars of the charge created or to be created for securing such deposits, if any: Not applicable, since the Company will be accepting only unsecured deposits. g. Any financial or other material interest of the directors, promoters or key managerial personnel in such deposits and the effect of such interest in so far as it is different from the interests of other persons:No such interest, the rate of interest is same for Directors, Promoters, KMP, Public & Members. 3. DETAILS OF ANY OUTSTANDING DEPOSITS a. Amount Outstanding; Rs. 679396612 b. Date of acceptance; Over last one year c. Total amount accepted; Rs. 0/- (As on 31.03.2021) d. Rate of interest; 8.00% p.a. (yield 8.25 % p.a.). e. Total number of depositors; 37 depositors f. Default, if any, in repayment of deposits and payment of interest thereon, if any, including number of depositors, amount and duration of default involved: There was no default in repayment of deposit and in payment of inter- est thereon g. Any waiver by the depositors, of interest accrued on deposits: No 4. FINANCIAL POSITION OF THE COMPANY a. Profits of the company, before and after making provision for tax, for the three financial years immediately pre- ceding the date of issue of circular or advertisement: (Rs. in Lakhs) |
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| Unit I | Unit II | REGISTERED OFFICE UNIT- III | |||||||||||||||||
| 188/2, Ranipur Village, Opp. CNI Church, Narol. Ahmedabad 382 405 |
S .No. 215-217, Village Sari, Sarkhej Bavla Highway, Ta. Sanand, Dist. Ahmedabad. |
191, Moje Shahwadi, Narol- Sarkhej Highway. Ahmedabad – 382 405. |
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| UNIT IV S. No. 212/2 - 212/4, Village Sari, Sarkhej Bavla Highway, Ta. Sanand, Dist. Ahmedabad. |
DELHI OFFICE 11-A/2, Court Road, Civil Lines, Delhi – 110 054 |
MUMBAI OFFICE 102, Techno Residency, Plot No.84, Junction of L.N Road and Hindu Colony Road No.2, Dadar (E), Mumbai-400014 |
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| For the financial year ended |
Profit before Exceptional items & taxes |
Profit before taxes | Profit after taxes | ||||||||||||||||
| iii.Details of Subsidiaries:- A).Name:- AYE ESS SPINNING MILLS PRIVATE LIMITED - the process of the strike off a. Status: Wholly Owned Subsidiary of Aarvee Denims And Exports Limited b. Address: Block No. 217, Village-Sari, N.H. No. 8A, Sarkhej Bavala Road, Ta-Sanand, Sari Ahmedabad-382210 c. Business activities: spinning of cotton to yarn d. Brief particulars of the management of the company: The Company is managed by the Chairman & Managing Director, Managing Director, Whole-time Director and a team of experts and experienced professional managers, subject to the superintendence, control and directions of the Board of Directors. e. Names, addresses, DIN and occupations of the directors: |
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| 31st March, 2021 | (8307.97) | (8307.97) | (6419.11) | ||||||||||||||||
| 31st March, 2020 | (5552.54) | (5552.54) | (4192.69) | ||||||||||||||||
| 31st March, 2019 | 172.66 | 172.66 | 108.88 | ||||||||||||||||
| b. Dividends declared by the company in respect of the said three financial years; interest coverage ratio for last three years (Cash profit after tax plus interest paid or interest paid): For the financialyear ended Dividends Interest coverage ratio 31st March, 2021 NIL 0.37 31st March,2020 NIL 0.93 31st March, 2019 NIL 1.02 c. A summary of the financial position of the company as in the three audited balance sheets immediately preceding the date of issue of circular or advertisement: (Rs. In Lakhs) |
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| Name | Designation | Address | DIN | Occupation | |||||||||||||||
| Mr. Vinod P. Arora |
Chairman & Managing Director |
"OMKAR" S. No. 239/2, F.P.No.12/01/B Hebatpur, Shilaj Road, Opp. Ami Mangal Bunglow-3, Thaltej, Ahmedabad-380054 |
00007065 | Industrialist | |||||||||||||||
| Sr. No. | Particulars | As on 31.03.2021 | As on 31.03.2020 | As on 31.03.2019 | |||||||||||||||
| I | Equity and Liabilities | ||||||||||||||||||
| Mr. Ashish V. Shah |
Managing Director |
2, Jain Marchant SocietyPaldi, Ahmedabad -380 007 |
00007201 | Industrialist | |||||||||||||||
| 1 | Share Capital | 2,345.98 | 2,345.98 | 2,345.98 | |||||||||||||||
| 2 | Reserves & Surplus | 14,417.31 | 20752.61 | 24966.57 | |||||||||||||||
| Mr. Kalpesh V. Shah |
Whole-time Director |
20, Merchant Park Society, B/h. Jain Merchant Society Paldi, Ahmedabad-380007 |
00007262 | Industrialist | |||||||||||||||
| 3 | Non-Current Liabilities | 17,726.24 | 16491.44 | 16951.38 | |||||||||||||||
| 4 | Current Liabilities | 36,573.75 | 44689.83 | 50609.79 | |||||||||||||||
| Mr. Nipun Arora |
Whole-time Director |
Survey No.239/2,No.12/C, Omkar Hebatpur Road, Opp. Ami Mangal Bunglow-3, Thaltej, Ahmedabad-380059 |
00989835 | Industrialist | |||||||||||||||
| Total | 71,063.28 | 84279.86 | 94873.72 | ||||||||||||||||
| d. Audited Cash Flow Statement for the three years immediately preceding the date of issue of circular or advertisement: (Rs. In Lakhs) |
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| Mr. Sanjay S. Majmudar |
Independent Director |
24, Sumadhur Co-Op HSG. Soc. Ltd. B/h. Ocean Park, Ambawadi, Ahmedabad-380015 |
00091305 | Chartered Accountant |
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| 31st March, 2021 | 31st March, 2020 | 31st March, 2019 | |||||||||||||||||
| Mr. Ashok C. Gandhi |
Independent Director |
2, Prabhat Society Paldi, Ahmedabad-380007 | 00022507 | Advocate | |||||||||||||||
| i) | Cash flows from operatingactivities | 4,541.19 | 6458.86 | 5056.66 | |||||||||||||||
| ii) | Cash flows from investingactivities | 883.97 | 488.88 | (5334.53) | |||||||||||||||
| Mr. Amol R. Dalal |
Independent Director |
C/11/12, Prathana Flats, Opp. Ankur School Fatehpura, Paldi, Ahmedabad-380007. |
00458885 | Industrialist | |||||||||||||||
| iii) | Cash flows from financingactivities | (4,187.72) | (7043.04) | 287.87 | |||||||||||||||
| iv) | Net increase/(decrease) in cash & cash equivalents |
1,237.44 | (95.30) | 10.00 | |||||||||||||||
| Mr. Aarti Thakkar |
Independent Director |
B1-404, Karnavati Park-2, Near Shriram Residency, Opp. Rudra Estate, Narol Lamba Highway, Vatva, Ahmedabad-380440 |
8603909 | Chartered Accountant |
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| e.Any change in accounting policies during the last three years and their effect on the profits and the reserves of the company: No change in the accounting policies. 5. A DECLARATION BY THE DIRECTORS THAT:- We, Directors of Aarvee Denims and Exports Limited do hereby declare THAT:- a. the company has not defaulted in the repayment of deposits accepted either before or after the commencement of the Act or payment of interest there on; b. the board of directors have satisfied themselves fully with respect to the affairs and prospects of the company and that they are of the opinion that having regard to the estimated future financial position of the company, the company will be able to meet its liabilities as and when they become due and that the company will not become insolvent within a period of one year from the date of issue of the circular or advertisement; c. the company has complied with the provisions of the Act and the rules made thereunder; d. the compliance with the Act and the rules does not imply that repayment of deposits is guaranteed by the Central Government; e. The deposits accepted by the company before the commencement of the Act have been repaid (or will be repaid along with interest thereon on maturity and until they are repaid, they shall be treated as unsecured and rank- ing pari-passu with other unsecured liabilities). f. In case of any adverse change in credit rating, depositors will be given a chance to withdraw deposits without any penalty. g. the deposits shall be used only for the purposes indicated in the Circular or circular in the form of advertise- ment; h. the deposits accepted by the company (other than the secured deposits, if any, aggregate amount of which to be indicated) are unsecured and rank pari-passu with other unsecured liabilities of the company. This circular is issued on the authorities and in the name of the Board of Directors of the Company, the text hereof has been approved by the Board of Directors at its meeting held on 13th August 2021, and a copy thereof signed by a major- ity of the Directors of the Company, has been filed with the Registrar of the Companies, Gujarat. BY ORDER OF THE BOARD Vinod P. Arora Ashish V. Shah Kalpesh V. Shah Nipun Arora Ashok Gandhi Sanjay Majmudar Amol Dalal Aarti Thakkar Date : 13.08.2021 Place: Ahmedabad |
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| f. Management’s perception of risk factors: Aarvee Denims and Exports Limited have been in the denims and textile segments for nearly 31 years and having good domestic and international market share. The Management believes that demand of denim will increase when the eco- nomic scenario improves. The domestic denim market is facing challenges of slowdown of consumer demand due to COVID 19 Pandemic. The Company hopes that in midterm the global economic scenario will change and demand of denims will bust up which help to improve profitability of the Company in forth coming years. g. Details of default, including the amount involved, duration of default and present status, in repayment of – i) Statutory dues: NIL ii) Debentures and interest thereon: NIL iii) Loan from any bank or financial institution and interest thereon: N.A. 2. PARTICULARS OF THE DEPOSIT SCHEME 1. Date of passing of board resolution: 13th August 2021. 2. Date of passing of resolution in the general meeting authorizing the invitation of such deposits: 30th September 2014. 3. Type of deposits, i.e., whether secured or unsecured: UNSECURED 4. Amount which the company can raise by way of deposits as per the Act and the rules made thereunder: i. Aggregate of deposits actually held on 31st March, 2021: Rs. 68,08,20,000 ii. Aggregate of deposits on the date of issue of the advertisement: 679396612.00 iii. Amount of deposits to be raised: Rs. 53,42,45,279 iv. Amount of deposits repayable in the current financial year 2021-22: Rs. 32,00,75,000 a. Terms of rising of deposits: SR. NO. PERIOD (MONTHS) MINIMUM AMOUNT RATE OF INTEREST 1. 12 10,000/- 8.00%payablequarterly 2. 24 10,000/- 8.25% payable annually Additional amount in multiples of Rs. 1000/-. Rate of interest will be same for public & shareholders of the company. Mode of payment and repayment: By cheques/Demand Drafts/transfer to bank account b. Proposed time schedule mentioning the date of opening of the Scheme and the time period for which the |
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AARVEE DENIMS AND EXPORTS LIMITED
CIN: L17110GJ1988PLC010504
Regd. Office : 191, Shahwadi, Narol-Sarkhej Highway, Nr. Old Octroi Naka, Narol, Ahmedabad-382405
Tel No :+91-79-68147000, 30017000 Fax : 91-79-68147070
E-mail : [email protected] Website : www.aarvee-denims.com
FORM DPT-1
CIRCULAR OR CIRCULAR IN THE FORM OF ADVERTISEMENT INVITING UNSECURED DEPOSITS
[Pursuant to section 73 (2)(a) and section 76 and rule 4(1) and 4(2) of the Companies (Acceptance of Deposits) Rules, 2014 ]
1. GENERAL INFORMATION :
a. Name, address, website and other contact details of the company ;
AARVEE DENIMS AND EXPORTS LIMITED
Regd. Office : 191, Shahwadi, Narol- Sarkhej Highway,
Nr. Old Octroi Naka, Narol, Ahmedabad � 382 405.
Tel No :+91-79-68147000, 30017000 Fax: 91-79-68147070
E-mail : [email protected] Website: www.aarvee-denims.com
CIN : L17110GJ1988PLC010504
b. Date of incorporation of the company: 28[th] March, 1988.
circular or advertisement is valid :
- Date of opening the scheme : 30[th] September 2021.
2. Time period for which the circular or advertisement is valid : The Fixed deposit scheme shall be opened with effect from as and when this advertisement issued and shall be valid till 30[th] September, 2021 or the date of the Company�s annual general meeting, whichever is earlier.
c. Reasons or objects of raising the deposits : For meeting short term and medium term financial requirements of the Company.
d. Credit rating obtained :
Name of the Credit Rating Agencies India Ratings & Research Rating obtained IND tA-/Stable Meaning of the rating obtained This means that the previous rating of downgraded is only continued for this year also Date on which rating was obtained 19-02-2021
e. ~~Extent of deposit insurance, Name of the Insurance Company, terms of the insurance coverage, duration of coverage, extent of coverage, procedure for claim in case of default etc.~~ ; : The same is not applicable.
f. Short particulars of the charge created or to be created for securing such deposits, if any : Not applicable, since the Company will be accepting only unsecured deposits.
g. Any financial or other material interest of the directors, promoters or key managerial personnel in such deposits and the effect of such interest in so far as it is different from the interests of other persons: No such interest, the rate of interest is same for Directors, Promoters, KMP, Public & Members.
3. DETAILS OF ANY OUTSTANDING DEPOSITS
c. Business carried on by the company and its subsidiaries with the details of branches or units, if any:
a. Amount Outstanding; Rs. 679396612
i. Business carried on by the company :- The Company is one of the leading manufacturer and exporter of denims and non-denims fabrics and denims apparels
b. Date of acceptance; Over last one year
c. Total amount accepted; Rs. 0/- (As on 31.03.2021)
ii. Units of the company :
| ii.Units of the company: | c. Total amount accepted; Rs. 0/- (As on 31.03.2021) | |||
|---|---|---|---|---|
| Unit I Unit II REGISTERED OFFICE UNIT- III 188/2, Ranipur Village, S .No. 215-217, Village Sari, 191, Moje Shahwadi, Opp. CNI Church, Narol. Sarkhej Bavla Highway, Narol- Sarkhej Highway. |
d. Rate of interest; 8.00% p.a. (yield 8.25 % p.a.). e. Total number of depositors; 37 depositors f. Default, if any, in repayment of deposits and payment of interest thereon, if any, including number of depositors, amount and duration of default involved: There was no default in repayment of deposit and in payment of inter- |
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| Ahmedabad 382 405 Ta. Sanand, Dist. Ahmedabad. Ahmedabad � 382 405. |
est thereon | |||
| UNIT IV DELHI OFFICE MUMBAI OFFICE |
g. Any waiver by the depositors, of interest accrued on deposits: No | |||
| S. No. 212/2 - 212/4, 11-A/2, Court Road, 102, Techno Residency, Plot No.84, |
4. FINANCIAL POSITION OF THE COMPANY | |||
| Village Sari, Sarkhej Bavla Civil Lines, Delhi � 110 054 Junction of L.N Road and Hindu |
a. Profits of the company, before and after making provision for tax, for the three financial years immediately pre- | |||
| Highway, Ta. Sanand, Colony Road No.2, Dadar (E), Dist. Ahmedabad. Mumbai-400014 |
ceding the date of issue of circular or advertisement: (Rs. in Lakhs) For the financial Profit before Exceptional Profit before taxes Profit after taxes |
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| iii.Details of Subsidiaries:- | year ended items & taxes |
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| A).Name:- AYE ESS SPINNING MILLS PRIVATE LIMITED - the process of the strike off a. Status: Wholly Owned Subsidiary of Aarvee Denims And Exports Limited b.Address: Block No. 217, Village-Sari, N.H. No. 8A, Sarkhej Bavala Road, Ta-Sanand, Sari Ahmedabad-382210 c. Business activities: spinning of cotton to yarn |
31st March, 2021 (8307.97) (8307.97) (6419.11) 31st March, 2020 (5552.54) (5552.54) (4192.69) 31st March, 2019 172.66 172.66 108.88 |
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| d. Brief particulars of the management of the company: | b. Dividends declared by the company in respect of the said three financial years; interest coverage ratio for last | |||
| The Company is managed by the Chairman & Managing Director, Managing Director, Whole-time Director and | three years (Cash profit after tax plus interest paid or interest paid): | |||
| a team of experts and experienced professional managers, subject to the superintendence, control and directions | For the financialyear ended Dividends Interest coverage ratio |
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| of the Board of Directors. e. Names, addresses, DIN and occupations of the directors: Name Designation Address DIN Occupation |
31st March, 2021 NIL 0.37 31st March,2020 NIL 0.93 31st March, 2019 NIL 1.02 |
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| Mr. Vinod P. Chairman & "OMKAR" S. No. 239/2, F.P.No.12/01/B 00007065 Industrialist |
c. A summary of the financial position of the company as in the three audited balance | sheets | ||
| Arora Managing Hebatpur Shilaj Road Opp Ami |
immediately preceding the date of issue of circular or advertisement: |
| Name | Designation | Address | DIN | Occupation | Occupation | ||||
|---|---|---|---|---|---|---|---|---|---|
| Mr. Vinod P. | Chairman & | "OMKAR" S. No. 239/2, F.P.No.12/01/B | 00007065 | Industrialist | |||||
| Arora | Managing | Hebatpur, Shilaj Road, Opp. Ami | |||||||
| Director | Mangal Bunglow-3, Thaltej, | ||||||||
| Ahmedabad-380054 | |||||||||
| Mr. Ashish V. | Managing | 2, Jain Marchant SocietyPaldi, | 00007201 | Industrialist | |||||
| Shah | Director | Ahmedabad -380 007 | |||||||
| Mr. Kalpesh V. | Whole-time | 20, Merchant Park Society, B/h. Jain | 00007262 | Industrialist | |||||
| Shah | Director | Merchant Society Paldi, Ahmedabad-380007 | |||||||
| Mr. Nipun | Whole-time | Survey No.239/2,No.12/C, Omkar Hebatpur | 00989835 | Industrialist | |||||
| Arora | Director | Road, Opp. Ami Mangal Bunglow-3, Thaltej, | |||||||
| Ahmedabad-380059 | |||||||||
| Mr. Sanjay S. | Independent | 24, Sumadhur Co-Op HSG. Soc. Ltd. B/h. | 00091305 | Chartered | |||||
| Majmudar | Director | Ocean Park, Ambawadi, Ahmedabad-380015 | Accountant | ||||||
| Mr. Ashok C. | Independent | 2, Prabhat Society Paldi, Ahmedabad-380007 | 00022507 | Advocate | |||||
| Gandhi | Director | ||||||||
| Mr. Amol R. | Independent | C/11/12, Prathana Flats, Opp. Ankur School | 00458885 | Industrialist | |||||
| Dalal | Director | Fatehpura, Paldi, Ahmedabad-380007. | |||||||
| Mr. Aarti | Independent | B1-404, Karnavati Park-2, Near Shriram | 8603909 | Chartered | |||||
| Thakkar | Director | Residency, Opp. Rudra Estate, Narol Lamba | Accountant | ||||||
| Highway, Vatva, Ahmedabad-380440 | e |
| (Rs. In Lakhs) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sr. | No. | Particulars | As on 31.03.2021 | As on 31.03.2020 | As on 31.03.2019 | ||||||
| I | Equity and Liabilities | ||||||||||
| 1 | Share Capital | 2,345.98 | 2,345.98 | 2,345.98 | |||||||
| 2 | Reserves & Surplus | 14,417.31 | 20752.61 | 24966.57 | |||||||
| 3 | Non-Current Liabilities | 17,726.24 | 16491.44 | 16951.38 | |||||||
| 4 | Current Liabilities | 36,573.75 | 44689.83 | 50609.79 | |||||||
| Total | 71,063.28 | 84279.86 | 94873.72 |
d. Audited Cash Flow Statement for the three years immediately preceding the date of issue of circular or advertisement :
| (Rs. In Lakhs) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31st March, 2021 | 31st March, 2020 | 31st March, 2019 | ||||||||
| i) Cash flows from operatingactivities |
4,541.19 | 6458.86 | 5056.66 | |||||||
| ii)Cash flows from investingactivities | 883.97 | 488.88 | (5334.53) | |||||||
| iii)Cash flows from financingactivities | (4,187.72) | (7043.04) | 287.87 | |||||||
| iv) Net increase/(decrease) in cash & cash | 1,237.44 | (95.30) | 10.00 |
equivalents
e.Any change in accounting policies during the last three years and their effect on the profits and the reserves of the company: No change in the accounting policies .
f. Management�s perception of risk factors :
5. A DECLARATION BY THE DIRECTORS THAT :-
Aarvee Denims and Exports Limited have been in the denims and textile segments for nearly 31 years and having good domestic and international market share. The Management believes that demand of denim will increase when the economic scenario improves. The domestic denim market is facing challenges of slowdown of consumer demand due to COVID 19 Pandemic. The Company hopes that in midterm the global economic scenario will change and demand of denims will bust up which help to improve profitability of the Company in forth coming years.
We, Directors of Aarvee Denims and Exports Limited do hereby declare THAT:-
- a. the company has not defaulted in the repayment of deposits accepted either before or after the commencement of the Act or payment of interest there on;
b. the board of directors have satisfied themselves fully with respect to the affairs and prospects of the company and that they are of the opinion that having regard to the estimated future financial position of the company, the company will be able to meet its liabilities as and when they become due and that the company will not become insolvent within a period of one year from the date of issue of the circular or advertisement;
g. Details of default, including the amount involved, duration of default and present status, in repayment of �
-
i) Statutory dues: NIL
-
ii) Debentures and interest thereon: NIL
c. the company has complied with the provisions of the Act and the rules made thereunder; d. the compliance with the Act and the rules does not imply that repayment of deposits is guaranteed by the Central Government;
iii) Loan from any bank or financial institution and interest thereon: N.A.
2. PARTICULARS OF THE DEPOSIT SCHEME
- Date of passing of board resolution: 13[th] August 2021.
e. The deposits accepted by the company before the commencement of the Act have been repaid (or will be repaid along with interest thereon on maturity and until they are repaid, they shall be treated as unsecured and ranking pari-passu with other unsecured liabilities).
-
Date of passing of resolution in the general meeting authorizing the invitation of such deposits: 30[th] September 2014.
-
Type of deposits, i.e., whether secured or unsecured: UNSECURED
-
f. In case of any adverse change in credit rating, depositors will be given a chance to withdraw deposits without any penalty.
4. Amount which the company can raise by way of deposits as per the Act and the rules made thereunder:
- g. the deposits shall be used only for the purposes indicated in the Circular or circular in the form of advertisement;
i. Aggregate of deposits actually held on 31st March, 2021: Rs. 68,08,20,000
ii. Aggregate of deposits on the date of issue of the advertisement: 679396612.00
h. the deposits accepted by the company (other than the secured deposits, if any, aggregate amount of which to be indicated) are unsecured and rank pari-passu with other unsecured liabilities of the company. This circular is issued on the authorities and in the name of the Board of Directors of the Company, the text hereof has been approved by the Board of Directors at its meeting held on 13[th] August 2021, and a copy thereof signed by a majority of the Directors of the Company, has been filed with the Registrar of the Companies, Gujarat.
iii. Amount of deposits to be raised: Rs. 53,42,45,279
iv. Amount of deposits repayable in the current financial year 2021-22: Rs. 32,00,75,000
a. Terms of rising of deposits :
SR. NO. PERIOD (MONTHS) MINIMUM AMOUNT RATE OF INTEREST 1. 12 10,000/8.00% payable quarterly 2. 24 10,000/8.25% payable annually
BY ORDER OF THE BOARD Vinod P. Arora Ashish V. Shah Kalpesh V. Shah Nipun Arora Ashok Gandhi Sanjay Majmudar Amol Dalal Aarti Thakkar
Additional amount in multiples of Rs. 1000/-. Rate of interest will be same for public & shareholders of the company. Mode of payment and repayment : By cheques/Demand Drafts/transfer to bank account b. Proposed time schedule mentioning the date of opening of the Scheme and the time period for which the
Ashok Gandhi Date : 13.08.2021 Place : Ahmedabad