The Company, its Directors and its Promoters are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various forums and regulatory authorities. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business and financial status.

The company requires a number of approvals, licenses, registrations and permits in the ordinary course of its business and any failures or delay in obtaining the same in a timely manner may adversely affect its operations.

Its business activities are exposed to fluctuations in the prices of raw materials.

The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.

The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect its business operations.

The restated examination report by its peer review auditor on Restated Financial Statements has provided a matter of emphasis paragraph for the company has not accounted for interest provisions as per MSMED Act, 2006.

Its Registered Office and the company factories are located on premises which are not owned by it and has been obtained on lease basis. Disruption of its rights as licensee/ lessee or termination of the agreements with its licensors/ lessors would adversely impact the company operations and, consequently, its business, financial condition and results of operations.

The Company has entered into certain related party transactions and may continue to do so in the future.

Its may be unable to sufficiently obtain, maintain, protect, or enforce the company intellectual property and other proprietary rights.

Some of its corporate records relating to changes in the share capital of the Company, allotments made by the Company, and transfers and acquisitions of Equity Shares made by its Promoters, not traceable. There have been instances of non-filing of certain ROC forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to RoC.