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Our Company, some of our Subsidiaries, Promoters, Directors and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
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The Company, some of its Subsidiaries, Promoters, Directors and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company business, results of operations and financial condition.
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We require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate our business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect our operations
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The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company operations.
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Introduction of stricter norms regulating our operation in domestic and overseas market could result in loss due to our inability to meet customer requirement and production schedules, which could materially affect our business, results of operations and financial condition.
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Introduction of stricter norms regulating the company operation in domestic and overseas market could result in loss due to its inability to meet customer requirement and production schedules, which could materially affect the company business, results of operations and financial condition.
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We have certain contingent liabilities as stated in the Restated Consolidated Financial Statement, and in the event, they materialize it could adversely affect our financial condition.
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The company have certain contingent liabilities as stated in the Restated Consolidated Financial Statement, and in the event, they materialize it could adversely affect its financial condition.
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We have experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on our business, prospects, financial condition, cash flows and results of operations.
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The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.
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Our Company is party to a legal proceeding concerning an alleged violation of environmental norms by the Company. An adverse outcome of the proceeding could have an impact on our Company`s operations at Mukka Manufacturing Facility I.
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The Company is party to a legal proceeding concerning an alleged violation of environmental norms by the Company. An adverse outcome of the proceeding could have an impact on the Company`s operations at Mukka Manufacturing Facility I.
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In past, one of our Promoter Director, Kalandan Mohammed Haris has been subject to search and seizure of property by Directorate of Enforcement in relation to alleged violation of Foreign Exchange Management Act, 1999 against which our Promoter has filed a Writ Petition against (i) Union of India, (ii) Commissioner of Customs and (iii) Directorate of Enforcement before the Hon`ble High Court of Karnataka, at Bengaluru. An adverse outcome of the proceeding could have an impact on our Company`s business, results of operations and financial condition.
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In past, one of the company Promoter Director, Kalandan Mohammed Haris has been subject to search and seizure of property by Directorate of Enforcement in relation to alleged violation of Foreign Exchange Management Act, 1999 against which the company Promoter has filed a Writ Petition against (i) Union of India, (ii) Commissioner of Customs and (iii) Directorate of Enforcement before the Hon`ble High Court of Karnataka, at Bengaluru. An adverse outcome of the proceeding could have an impact on the Company`s business, results of operations and financial condition.
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A significant majority of our revenues from operations are derived from a limited number of customers.
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A significant majority of the company revenues from operations are derived from a limited number of customers.
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A majority of our supplies for our operations are obtained from a limited number of suppliers.
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A majority of the company supplies for the company operations are obtained from a limited number of suppliers.
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Under-utilisation of our manufacturing capacities and an inability to effectively utilise our expanded manufacturing capacities could have an adverse effect on our business, future prospects and future financial performance.
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Under-utilisation of the company manufacturing capacities and an inability to effectively utilise its expanded manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
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We operate in an environmentally sensitive industry and are subject to disruptions due to unpredictable or unseasonal weather.
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The company operates in an environmentally sensitive industry and are subject to disruptions due to unpredictable or unseasonal weather.
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There may have been certain instances of non-compliances and alleged non-compliances with respect to certain regulatory filings for corporate actions taken by our Company in the past. Consequently, we may be subject to regulatory actions and penalties.
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There may have been certain instances of non-compliances and alleged non-compliances with respect to certain regulatory filings for corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties.
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Man-made factors affecting the pelagic fish populations could adversely affect our business, financial condition and results of operations.
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Man-made factors affecting the pelagic fish populations could adversely affect the company business, financial condition and results of operations.
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Our production and operations are subject to seasonal fluctuations.
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The company production and operations are subject to seasonal fluctuations.
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The products that we manufacture or process is subject to risks such as contamination, adulteration and product tampering during their production, transportation or storage and any failure to provide the specified quality of fish meal, fish oil and fish soluble paste could have a negative impact on our business.
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The products that the company manufacture or process is subject to risks such as contamination, adulteration and product tampering during their production, transportation or storage and any failure to provide the specified quality of fish meal, fish oil and fish soluble paste could have a negative impact on the company business.
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Our Company does not have any formal long-term arrangements with the suppliers of our key raw material. Any significant variation in the supply may adversely affect the operations and profitability of our Company.
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The Company does not have any formal long-term arrangements with the suppliers of its key raw material. Any significant variation in the supply may adversely affect the operations and profitability of the Company.
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We have recently ventured into insect protein business and we may be unable to execute our strategy to expand the business or find suitable market for insect proteins, which could have a material adverse effect on our business, financial condition and results of operations.
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The company has recently ventured into insect protein business and its may be unable to execute the company strategy to expand the business or find suitable market for insect proteins, which could have a material adverse effect on its business, financial condition and results of operations.
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In respect of the land on which Mukka Manufacturing Facility II is located, our Licensor`s title to the land may be defective on account of failure to obtain necessary written consent of Governor of Karnataka represented by the Director of Ports and Inland Water Transport in Karnataka ("Port Authority") in relation to transfer of licence of the land to Haris Marine Products (now Haris Marine Products Private Limited) or the written consent if at all obtained, is not traceable and the document executed with Marine Enterprises by Haris Marine Products is not duly registered or adequately stamped.
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In respect of the land on which Mukka Manufacturing Facility II is located, the company Licensor`s title to the land may be defective on account of failure to obtain necessary written consent of Governor of Karnataka represented by the Director of Ports and Inland Water Transport in Karnataka ("Port Authority") in relation to transfer of licence of the land to Haris Marine Products (now Haris Marine Products Private Limited) or the written consent if at all obtained, is not traceable and the document executed with Marine Enterprises by Haris Marine Products is not duly registered or adequately stamped.
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We procure raw material from our Associates and the partnership firm, wherein though our Company has made substantial capital contribution, our Company do not control such entities and therefore our interests may not align with the interests of the other stakeholders of such entities.
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The company procure raw material from its Associates and the partnership firm, wherein though the Company has made substantial capital contribution, the Company do not control such entities and therefore its interests may not align with the interests of the other stakeholders of such entities.
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The gross margin for our products could decline and we cannot assure you that we can maintain our gross margin at the same level in the future.
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The gross margin for the company products could decline and its cannot assure you that the company can maintain its gross margin at the same level in the future.
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We are subject to the legal and regulatory framework of the international markets where we export our products and may not always be able to comply with applicable rules and regulations or may be adversely affected in the event of introduction of international trade barriers.
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The company is subject to the legal and regulatory framework of the international markets where its export the company products and may not always be able to comply with applicable rules and regulations or may be adversely affected in the event of introduction of international trade barriers.
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An inability to comply with applicable health and hygiene standards or quality standards in our operations and ensure quality of our products may materially and adversely our business and reputation.
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An inability to comply with applicable health and hygiene standards or quality standards in the company operations and ensure quality of its products may materially and adversely the company business and reputation.
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Intellectual property rights are important to our business. Failure to get approval for intellectual property rights may adversely affect our business. We may be unable to protect them from being infringed by others, including our current and / or future competitors/employees which may adversely affect our business value, financial condition and results of operations.
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Intellectual property rights are important to the company business. Failure to get approval for intellectual property rights may adversely affect its business. The company may be unable to protect them from being infringed by others, including its current and / or future competitors/employees which may adversely affect the company business value, financial condition and results of operations.
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We are susceptible to exchange rate fluctuations.
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The company issusceptible to exchange rate fluctuations.
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We are dependent on our Promoters Directors for the functioning of our business and the loss of or our inability to attract or retain such persons could adversely affect our business, results of operations and financial condition.
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The company is dependent on its Promoters Directors for the functioning of the company business and the loss of or its inability to attract or retain such persons could adversely affect the company business, results of operations and financial condition.
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Any inability on our part to collect amounts owed to us or pay amounts owed by us could result in the reduction of our profits.
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Any inability on the company part to collect amounts owed to it or pay amounts owed by it could result in the reduction of its profits.
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Our senior management team and other key managerial personnel in our business units are critical to our continued success and we may be unable to attract and retain such personnel in the future.
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The company senior management team and other key managerial personnel in its business units are critical to the company continued success and its may be unable to attract and retain such personnel in the future.
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We are currently entitled to certain Export incentives. Any decrease in or discontinuation of such Export incentives or export promotion schemes may adversely affect our results of operations and financial performance.
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The company is currently entitled to certain Export incentives. Any decrease in or discontinuation of such Export incentives or export promotion schemes may adversely affect its results of operations and financial performance.
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We operate in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures could have a material adverse effect on our business growth and prospects, financial condition and results of operations.
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The company operates in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures could have a material adverse effect on its business growth and prospects, financial condition and results of operations.
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An inability to effectively manage our growth and expansion may have a material adverse effect on our business prospects and future financial performance.
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An inability to effectively manage the company growth and expansion may have a material adverse effect on its business prospects and future financial performance.
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Our Company is dependent on third parties for transportation and export of our finished products and any disruption in their operations or a decrease in the quality of their services could have an adverse impact on our business, financial condition, cash flows and results of operations.
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The Company is dependent on third parties for transportation and export of its finished products and any disruption in their operations or a decrease in the quality of their services could have an adverse impact on the company business, financial condition, cash flows and results of operations.
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We may be affected by competition law, the adverse application or interpretation of which could adversely affect our business.
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The company may be affected by competition law, the adverse application or interpretation of which could adversely affect its business.
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Any significant interruption in continuing operations of our manufacturing or storage facilities could have a material adverse effect on our business, results of operations, cash flows and financial condition.
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Any significant interruption in continuing operations of the company manufacturing or storage facilities could have a material adverse effect on its business, results of operations, cash flows and financial condition.
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In addition to our Manufacturing Facilities, we enter into arrangement with third-party manufacturers including on job work basis and therefore, we are subject to risks associated with the third-party manufacturing processes.
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In addition to the Manufacturing Facilities, the company enter into arrangement with third-party manufacturers including on job work basis and therefore, the company is subject to risks associated with the third-party manufacturing processes.
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Our business is dependent on the delivery of adequate and uninterrupted supply of electrical power and water at a reasonable cost and any shortage, disruption or non-availability of power and water may adversely affect our entire processing requirements and have an adverse impact on our business, results of operations and financial condition.
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The company business is dependent on the delivery of adequate and uninterrupted supply of electrical power and water at a reasonable cost and any shortage, disruption or non-availability of power and water may adversely affect its entire processing requirements and have an adverse impact on the company business, results of operations and financial condition.
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Activities involving our manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at any of our facilities may adversely affect our production schedules, costs, revenue and ability to meet customer demand.
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Activities involving the company manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at any of its facilities may adversely affect the company production schedules, costs, revenue and ability to meet customer demand.
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Our pursuit of inorganic growth opportunities may not be successful and could result in increased costs.
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The company pursuit of inorganic growth opportunities may not be successful and could result in increased costs.
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We rely on contract labour for carrying out certain of our operations and we may be held responsible for paying the wages of such workers, if the independent contractors through whom such workers are hired default on their obligations, and such obligations could have an adverse effect on our results of operations and financial condition.
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The company relies on contract labour for carrying out certain of its operations and the company may be held responsible for paying the wages of such workers, if the independent contractors through whom such workers are hired default on their obligations, and such obligations could have an adverse effect on the company results of operations and financial condition.
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Changes in technology may affect our business by making our processing facilities or equipment less competitive or obsolete.
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Changes in technology may affect the company business by making its processing facilities or equipment less competitive or obsolete.
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Failure to procure and/ or maintain adequate insurance cover in connection with our business may adversely affect our operations and profitability.
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Failure to procure and/ or maintain adequate insurance cover in connection with its business may adversely affect the company operations and profitability.
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We may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect our operations, business growth and financial results.
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The company may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect the company operations, business growth and financial results.
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Our Company and its Subsidiaries, during the during the nine months period ended December 31, 2022 Fiscal 2022, 2021 and 2020 had entered into various transactions with our Promoters, some of the members of the Promoter Group and some of the Directors. Our Company and its Subsidiaries have in the past entered into Related Party Transactions and may continue to do so in the future also, which may adversely affect our competitive edge and better bargaining power had these transactions been with non-related parties resulting in relatively more favourable terms and conditions and better margins.
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The Company and its Subsidiaries, during the during the nine months period ended December 31, 2022 Fiscal 2022, 2021 and 2020 had entered into various transactions with its Promoters, some of the members of the Promoter Group and some of the Directors. The Company and its Subsidiaries have in the past entered into Related Party Transactions and may continue to do so in the future also, which may adversely affect the company competitive edge and better bargaining power had these transactions been with non-related parties resulting in relatively more favourable terms and conditions and better margins.
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We majorly supply our products to aqua feed, poultry feed and pet food industry and outbreaks of any livestock diseases in general, and shrimp and poultry disease in particular, can significantly restrict our ability to conduct our operations.
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The company majorly supply its products to aqua feed, poultry feed and pet food industry and outbreaks of any livestock diseases in general, and shrimp and poultry disease in particular, can significantly restrict the company ability to conduct its operations.
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Certain sections of this Draft Red Herring Prospectus disclose information from (i) the CRISIL Report which have been commissioned and paid for by us exclusively in connection with the Issue; and (ii) RaboResearch Report which is a publicly available report and BRLM has obtained consent of RaboResearch for use of the report, by email dated March 10, 2023 and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
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Certain sections of this Draft Red Herring Prospectus disclose information from (i) the CRISIL Report which have been commissioned and paid for by it exclusively in connection with the Issue; and (ii) RaboResearch Report which is a publicly available report and BRLM has obtained consent of RaboResearch for use of the report, by email dated March 10, 2023 and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
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We do not own some of the business premises where our Manufacturing Facilities, Blending Facilities and Storage Facilities are located.
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The company do not own some of the business premises where its Manufacturing Facilities, Blending Facilities and Storage Facilities are located.
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Our operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees.
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The company operations may be materially adversely affected by strikes, work stoppages or increased wage demands by its employees.
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Failure or disruption of our information and technology ("IT") and/ or enterprise resources planning systems may adversely affect our business, financial condition, results of operations and future prospects.
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Failure or disruption of the company information and technology ("IT") and/ or enterprise resources planning systems may adversely affect its business, financial condition, results of operations and future prospects.
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We may be held liable for the non-payment of wages to the contract labour we engage in our business.
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The company may be held liable for the non-payment of wages to the contract labour its engage in the company business.
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Our lenders have charge over our movable and immovable properties in respect of finance availed by us.
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The company lenders have charge over its movable and immovable properties in respect of finance availed by it.
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We have availed unsecured loans which are repayable on demand. Any demand for repayment of such unsecured loans, may adversely affect our cash flows.
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The company has availed unsecured loans which are repayable on demand. Any demand for repayment of such unsecured loans, may adversely affect its cash flows.
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We are subject to restrictive covenants under our financing agreements that could limit our flexibility in managing our business or to use cash or other assets. Any defaults could lead to acceleration of our repayment obligations, cross defaults under other financing agreements, termination of one or more of our financing agreements or force us to sell our assets, which may adversely affect our cash flows, business, results of operations and financial condition.
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The company is subject to restrictive covenants under its financing agreements that could limit the company flexibility in managing its business or to use cash or other assets. Any defaults could lead to acceleration of the company repayment obligations, cross defaults under other financing agreements, termination of one or more of its financing agreements or force it to sell the company assets, which may adversely affect its cash flows, business, results of operations and financial condition.
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Our management will have broad discretion in how we apply the Net Proceeds, including interim use of the Net Proceeds, and there is no assurance that the objects of the Issue will be achieved within the time frame expected or at all, or that the deployment of the Net Proceeds in the manner intended by us will result in any increase in the value of your investment.
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The company management will have broad discretion in how its apply the Net Proceeds, including interim use of the Net Proceeds, and there is no assurance that the objects of the Issue will be achieved within the time frame expected or at all, or that the deployment of the Net Proceeds in the manner intended by it will result in any increase in the value of your investment.
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Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders` approval.
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Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders` approval.
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Our Promoters and members of the Promoter Group will continue jointly to retain majority control over our Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
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The Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
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Some of our Group Companies have incurred losses in the previous Fiscals.
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Some of the company Group Companies have incurred losses in the previous Fiscals.
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Our Promoters and certain members of our Promoter Group have issued personal guarantees in relation to debt facilities availed by us, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
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The company Promoters and certain members of its Promoter Group have issued personal guarantees in relation to debt facilities availed by it, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
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Our future funds requirements, in the form of issue of capital or securities and/or loans taken by us, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
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The company future funds requirements, in the form of issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
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Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.
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The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
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Our Promoters and some of our Directors are interested in our Company, in addition to regular remuneration or benefits and reimbursement of expenses.
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The company Promoters and some of its Directors are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
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We could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect our financial condition, results of operations and reputation.
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The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
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The average cost of acquisition of Equity Shares by our Promoters could be lower than the floor price.
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The average cost of acquisition of Equity Shares by the company Promoters could be lower than the floor price.
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The average cost of acquisition of Equity Shares by our Promoters could be lower than the floor price.
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Bismi Fisheries Private Limited, the Group Company is engaged in activities which is similar to its business. This may be a potential source of conflict of interest for it and which may have an adverse effect on the company business, financial condition and results of operations.
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Our Promoters have interest in entities, which are in businesses similar to ours and this may result in conflict of interest with us.
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The company Promoters have interest in entities, which are in businesses similar to its and this may result in conflict of interest with it.
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Information relating to the installed manufacturing capacity of our Manufacturing Facility included in this Draft Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.
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Information relating to the installed manufacturing capacity of the Manufacturing Facility included in this Draft Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.
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Our ability to access capital at attractive costs depends on our credit ratings. Non-availability of credit ratings or a poor rating may restrict our access to capital and thereby adversely affect our business and results of operations.
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The company ability to access capital at attractive costs depends on its credit ratings. Non-availability of credit ratings or a poor rating may restrict the company access to capital and thereby adversely affect its business and results of operations.
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The requirements of being a public listed company may strain our resources and impose additional requirements.
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The requirements of being a public listed company may strain its resources and impose additional requirements.
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If we are unable to establish and maintain an effective internal controls and compliance system, our business and reputation could be adversely affected.
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If the company is unable to establish and maintain an effective internal controls and compliance system, its business and reputation could be adversely affected.
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Our funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and our management will have broad discretion over the use of the Net Proceeds.
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The company funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
