1. The Commissioner, the Central Goods and Services Tax, Kolkata had undertaken a search at its Registered Office. Subsequent to the search, the Commissioner, the Central Goods and Services Tax, Kolkata, issued summons to its Directors under the Central Goods and Services Tax Act, 2017. In the event any adverse orders are passed against the Company or its Directors, it would have a significant impact on its business, results of operations and financial condition.
2. The company generally doing business with its customers on purchase order basis and does not enter into long term contracts with them. Its inability to maintain relationships with the company customers could have an adverse effect on its business, prospects, results of operations and financial condition.
3. The Company is reliant on the demand from the steel industry for a significant portion of its revenue. Any downturn in the steel industry or an inability to increase or effectively manage the company sales could have an adverse impact on the Company's business and results of operations.
4. There have been instances of incorrect filings of certain forms with the RoC, in the past.
5. The company depends on a few customers for a significant portion of its revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect the company's business and results of operations.
6. The prices the company is able to obtain for its products that its trade depend largely on prevailing market prices.
7. The commercial success of its services depends to a large extent on the success of the success of the end use customers. If there is any downturn in the industries in which the customers operate, it could have a material adverse effect on its business, financial condition and results of operations.
8. The business orders which the company undertake may be delayed, modified, cancelled, or not fully paid for by its clients and therefore, could materially affect its business, results of operations and financial condition.
9. The company is dependent upon few suppliers for the material requirements of its trading business.
10. The company derives majority of its revenue from its export operations. Any adverse events affecting these countries could have an adverse impact on its results from operations.