Notes to Accounts of Ashirwad Steels & Industries Ltd.

Mar 31, 2025

2.3.4 Provisions and contingencies

From time to time, the Company is subject to legal proceedings, the ultimate outcome of each
being subject to uncertainties inherent in litigation. A provision for litigation is made when it
is considered probable that a payment will be made and the amount can be reasonably
estimated. Significant judgement is required when evaluating the provision including, the
probability of an unfavourable outcome and the ability to make reasonable estimate of the
potential loss. Litigation provisions are reviewed at each accounting period and revisions
made for the changes in facts and circumstances. Contingent liabilities are disclosed in the
notes forming part of the financial statements. Contingent assets are not disclosed in the
financial statements unless an inflow of economic benefits is probable.

2.4 Property, plant and equipment (PPE)

An item of property, plant and equipment is recognised as an asset if it is probable that the
future economic benefits associated with the item will flow to the company and its cost can
be measured reliably. This recognition principle is applied to the costs incurred initially to
acquire an item of PPE, and also costs incurred subsequently to add to, replace part of , or
service it and subsequently carried at cost less accumulated depreciation and accumulated
impairment losses, if any. The cost of an asset includes the purchase cost of materials,
including import duties and non-refundable taxes, and any directly attributable costs of
bringing an asset to the location and condition of its intended use. The carrying amount of
the replaced part is derecognised. All other repair and maintenance costs are recognised in
the statement of profit and loss as incurred. The present value of the expected cost for the
decommissioning of an asset after its use is included in the cost of the respective asset if the
recognition criteria for a provision is met. When parts of an item of property, plant and
equipment have different useful lives, they are accounted for as separate items (major
components) of property, plant and equipment. The cost and related accumulated
depreciation are eliminated from the financial statements upon sale or retirement of the asset
and the resultant gains or losses are recognized in the Statement of Profit and Loss.

Depreciation methods, estimated useful lives and residual value

Freehold land is not depreciated. Lease-hold land areamortised over the lease term.

Depreciation on other items of PPE is provided on a straight-line basis to allocate their cost,
net of their residual value over the estimated useful life of the respective asset as specified in
Schedule II to the Companies Act, 2013.

The estimated useful lives are determined based on assessment made by technical experts,
in order to reflect the actual usage of the assets. The management believes that these
estimated useful lives are realistic and reflect fair approximation of the period over which the
assets are likely to be used.

The estimated useful lives considered are as follows:

Category Useful Life

Buildings (other than factory building) 60 Years

Factory Building 30 Years

Plant & Equipment 25 Years

Office Equipments including Air Conditioners 5 Years

Furniture & Fixtures 10 Years

Motor Cars 8 Years

Motor Cycles & Scooters 10 Years

There exist no restrictions or any encumbrances on title by way of any security/ pledge of
any property or plant & Equipment against any liability of the company.

The estimated useful lives, residual values and depreciation method are reviewed at-least at
the end of each financial year and are adjusted, wherever appropriate and required.

2.5 Non-current assets held for sale and discontinued operations

Non-current assets (including disposal groups) are classified as held for sale if their carrying
amount will be recovered principally through a sale transaction rather than through
continuing use and a sale is considered highly probable. Non-current assets classified as
held for sale are measured at lower of their carrying amount and fair value less cost to sell.
Non-current assets classified as held for sale are not depreciated or amortised from the date
when they are classified as held for sale. Non-current assets classified as held for sale and
the assets and liabilities of a disposal group classified as held for sale are presented
separately from the other assets and liabilities in the Balance sheet. A discontinued
operation is a component of the entity that has been disposed off or is classified as held for
sale and:

a) represents a separate major line of business or geographical area of operations and;

b) is part of a single co-ordinated plan to dispose of such a line of business or area of
operations.

The results of discontinued operations are presented separately in the Statement of Profit
and Loss.

2.6 Financial instruments

Financial assets and financial liabilities are recognised in the Balance sheet when the
Company becomes a party to the contractual provisions of the instrument. The Company
determines the classification of its financial assets and financial liabilities at initial
recognition based on its nature and characteristics.

a) Financial assets

i) Initial recognition and measurement

All financial assets are recognised initially at fair value plus, in the case of financial assets

not recorded at fair value through profit or loss, transaction costs that are attributable to the
acquisition of the financial asset. The financial assets include equity, loans and advances,
cash and bank balances and derivative financial instruments

ii) Subsequent measurement

For the purpose of subsequent measurement, financial assets are classified in the following
categories:

1) At amortised cost,

2) At fair value through other comprehensive income (FVTOCI), and

3) At fair value through profit or loss (FVTPL).

Debt instruments

A financial asset or financial liability is initially measured at fair value plus, for an item not
at fair value through profit and loss (FVTPL), transaction costs that are directly attributable
to its acquisition or issue. Transaction costs of financial assets carried at fair value through
profit and loss are expensed in the Statement of Profit and Loss. Subsequent measurement of
debt instruments depends on the Company''s business model for managing the asset and the
cash flow characteristics of the assets.

There are three measurement categories into which Company classifies its debt instruments:

a) Amortised cost

A ‘debt instrument’ is measured at the amortised cost if both the following conditions are
met:

1) The asset is held within a business model whose objective is to hold the asset for collecting
contractual cash flows, and

2) Contractual terms of the asset give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortised
cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into
account any discount or premium on acquisition and fees or costs that are an integral part of
the EIR.

b) Fair value through Other Comprehensive Income (''FVTOCI'')

Assets that are held for collection of contractual cash flows and for selling the financial seets,
cash flows represent solely payments of principal and interest, are measured at FVTOCI.
Movements in the carrying amount are recorded through OCI, except for the recognition of
impairment gains or losses, interest revenue which are recognised in the Statement of Profit
& Losses.

c) Fair value through Profit and loss (''FVTPL'')

Assets that do not meet the criteria for amortised cost or FVTOCI are measured at FVTPL.

A gain or loss on a debt investment that is subsequently measured at FVTPL is recognised
net in the Statement of Profit and Loss in the period in which it arises Interest income from
these financial assets is included in other income.

Equity investments

All equity investments in the scope of Ind AS 109 are measured at fair value.

Equity instruments included within the FVTPL category, if any, are measured at fair value
with all changes recognized in profit or loss. The Company may make an irrevocable election
to present in OCI subsequent changes in the fair value. The Company makes such election
on an instrument-by-instrument basis. The classification is made on initial recognition and
is irrevocable.

If the Company decides to classify an equity instrument at FVTOCI, then all fair value
changes on the instrument, excluding dividends, are recognized in OCI. There is no recycling
of the amounts from OCI to profit or loss, even on sale of investment. However, the Company
may transfer the cumulative gain or loss within equity.

iii) De-recognition

The Company derecognises a financial asset only when the contractual rights to the cash
flows from the asset expires or it transfers the financial asset and substantially all the risks
and rewards of ownership of the asset.

b) Financial liabilities
(j) Initial recognition and measurement

All financial liabilities are recognised initially at fair value.

The financial liabilities include trade and other payables, loans and borrowings including
bank overdrafts, derivative financial instruments etc.

(iii)Subsequent measurement

For the purpose of subsequent measurement, Financial liabilities are classified in two
categories:

1) Financial liabilities at amortised cost, and

2) Derivative instruments at fair value through profit or loss (FVTPL)

c) Financial Guarantee contracts

Financial guarantee contracts are recognised as a financial liability at the time of issuance of
guarantee. The liability is initially measured at fair value and are subsequently measured at
the higher of the amount of loss allowance determined, or the amount recognised less, the
cumulative amount of income recognised.

d) Derivative financial instruments

Initial recognition and subsequent measurement

Derivative financial instruments are initially recognised at fair value on the date on which a
derivative contract is entered into and are subsequently re-measured at fair value.
Derivatives are carried as financial assets when the fair value is positive and as financial
liabilities when the fair value is negative. Any gains or losses arising from changes in the fair
value of derivatives are taken directly to profit or loss.

e) Offsetting of financial instruments

Financial assets and financial liabilities including derivative instruments are offset and the
net amount is reported in the Balance sheet, if there is currently enforceable legal right to
offset the recognised amounts and there is an intention to settle on a net basis or to realise
the assets and settle the liabilities simultaneously.

f) Fair value measurement

Fair value is a market-based measurement, not an entity-specific measurement. Under Ind
AS, fair valuation of financial instruments is guided by Ind AS 113 “Fair Value
Measurement.”

For some assets and liabilities, observable market transactions or market information might
be available. For other assets and liabilities, observable market transactions and market
information might not be available. However, the objective of a fair value measurement in
both cases is the same to estimate the price at which an orderly transaction to sell the asset
or to transfer the liability would take place between market participants at the measurement
date under current market conditions (i.e. an exit price at the measurement date from the
perspective of a market participant that holds the asset or owes the liability).

Three widely used valuation techniques specified in the said Ind AS are the market approach,
the cost approach and the income approach which have been dealt with separately in the
said Ind AS.

Each of the valuation techniques stated as above proceeds on different fundamental
assumptions, which have greater or lesser relevance, and at times there is no relevance of a
particular methodology to a given situation. Thus, the methods to be adopted for a particular
purpose must be judiciously chosen. The application of any particular method of valuation
depends on the company being evaluated, the nature of industry in which it operates, the
company’s intrinsic strengths and the purpose for which the valuation is made.

In determining the fair value of financial instruments, the Company uses a variety of
methods and assumptions that are based on market conditions and risks existing at each
balance sheet date.

The Company uses the following hierarchy for determining and disclosing the fair
value of financial instruments by valuation technique:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly or indirectly.

Level 3: Inputs for the assets or liabilities that are not based on observable market data
(unobservable inputs)

g) Share capital

An equity instrument is a contract that evidences residual interest in the assets of the
Company after deducting all of its liabilities. Incremental costs directly attributable to the
issuance of new equity shares are recognized as a deduction from equity, net of any tax
effects.

2.7 Impairment of Assets

a) Non-financial assets

Property, plant and equipment are evaluated for recoverability whenever events or changes in
circumstances indicate that the carrying amounts may not be recoverable.

An impairment loss is recognized for the amount by which the carrying amount of the asset
exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value
less costs to sell and value in use.

For the purpose of assessing impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash flows (cash-generating units).

In assessing value in use, the estimated future cash flows are discounted to their present
value using a pre-tax discount rate that reflects current market assessments of the time
value of money and the risks specific to the asset.

In determining fair value less costs of disposal, recent market transactions are taken into
account. If no such transactions can be identified, an appropriate valuation model is used.

These calculations are corroborated by valuation multiples, quoted share prices for publicly
traded companies or other available fair value indicators.

If at the balance sheet date there is an indication that a previously assessed impairment loss
no longer exists, the recoverable amount is reassessed and the impairment loss previously
recognized is reversed such that the asset is recognized at its recoverable amount but not
exceeding written down value which would have been reported if the impairment loss had not
been recognized.

Financial assets

The Company recognizes loss allowances using the expected credit loss (ECL) model for the
financial assets which are not fair valued through profit or loss.

ECL impairment loss allowance is measured at an amount equal to lifetime ECL.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as
income or expense in the Statement of Profit and Loss. This amount is reflected under the
head “Other expenses” in the profit or loss. ECL is presented as an allowance, i.e. as an
integral part of the measurement of those assets in the Balance sheet. The allowance reduces
the net carrying amount. Until the asset meets write-off criteria, the Company does not
reduce impairment allowance from the gross carrying amount.

2.8 Inventories

There were no inventories for the period under audit.

2.9 Revenue recognition

2.9.1 Sale of goods

The Company recognizes revenue from contracts with customers based on a five step model
as set out in Ind AS 115, Revenue from Contracts with Customers, to determine when to
recognize revenue and at what amount. However at present the company does not have any
active business involving manufacturing and trading.

Further Income from Interest on loans, deposits, dividends etc., are recognised as follows

2.9.2 Interest income

Interest income on a financial asset at amortised cost is recognised on a time proportion
basis taking into interest rate (‘EIR’).

2.9.3 Dividend Income

Dividend income is accounted for when Company''s right to receive the income is established.

2.10 Leases

The determination of whether an arrangement is (or contains) a lease is based on the
substance of the arrangement at the inception of the lease. The arrangement is, or contains,
a lease if fulfilment of the arrangement is dependent on the use of a specific asset and the
arrangement conveys a right to use the asset even if that right is not explicitly specified in an
arrangement.

a) When the Company is a lessor

Leases for which the Company is a lessor is classified as a finance or operating lease.
Whenever the term of the lease transfer substantially all the risks and rewards of ownership
to the lessee, the contract is classified as a finance lease. All other leases are classified as
operating leases.

Measurement and recognition of leases as a lessee

With effect from April 1, 2019 the Company has adopted Ind AS 116, Leases using the
modified retrospective approach. Ind AS 116 - Leases introduces a single, on- balance sheet
laese accounting model for lessees.

A lessee recognises a right-of-use asset representing its right to use the underlying asset and
a lease liability representing its obligation to make lease payments. There are recognition
exemptions for short-term leases and leases of low-value items.

Lessor accounting remains similar to the current standard - i.e. lessors continue to classify
leases as finance or operating leases It replaces existing leases guidance, Ind AS 17, Leases.

The Company evaluates if an arrangement qualifies to be a lease as per the requirements of
Ind AS 116. Identification of a lease requires significant judgement. The Company uses
significant judegment in assessing the lease term (including anticipated renewals) and the
applicable discount rate.

However the company does not have any lease contracts as a lessee, hence there is no
impact in the financial statements of the Company.

2.11 Employee benefits

a) Short-term employee benefits

Short-term employee benefits in respect of salaries and wages, including non-monetary
benefits are recognised as an expense at the undiscounted amount in the Statement of Profit
and Loss for the year in which the related service is rendered.

b) Defined contribution plans

Payments to a defined contribution benefit scheme for eligible employees in the form of
superannuation fund are charged as an expense as they fall due. The Company does not
carry any further obligation, apart from the contributions made.

c) Defined benefit plans

The Company does not have any obligation, towards defined benefit plans

2.12 Segment Reporting

As mentioned in note no 1 "Company Information" the Company does not have any trading
or industrial business. Further the company has adopted new business of lending and
investments hence as such there are no separate reportable segments as per Indian
Accounting Standard "Operating Segments” (Ind AS 108).

2.13 Income tax

Income tax expense comprises current tax and deferred tax and is recognized in the
Statement of Profit and Loss except to the extent it relates to items directly recognized in
Equity or in OCI.

a) Current income tax

Current income tax assets and liabilities for the current and prior periods are measured at
the amount expected to be recovered from or paid to the taxation authorities using the tax
rates and tax laws that are enacted or substantively enacted by the balance sheet date and
applicable for the period.

Current tax items in correlation to the underlying transaction relating to OCI and Equity are
recognized in OCI and in Equity respectively.

Management periodically evaluates positions taken in the tax returns with respect to
situations in which applicable tax regulations are subject to interpretation and establishes
provisions where appropriate on the basis of amounts expected to be paid to the tax
authorities.

The Company offsets current tax assets and current tax liabilities, where it has a legally
enforceable right to set off the recognized amounts and where it intends either to settle on a
net basis or to realise the assets and settle the liabilities simultaneously.

b) Deferred income tax

Deferred income tax is recognized using the balance sheet approach. Deferred income tax
assets and liabilities are recognized for deductible and taxable temporary differences arising
between the tax base of assets and liabilities and their carrying amount in financial
statements, except when the deferred income tax arises from the initial recognition of
goodwill or an asset or liability in a transaction that is not a business combination and
affects neither accounting nor taxable profits or loss at the time of the transaction.

Deferred tax assets are recognized for deductible temporary differences, the carry forward of
unused tax credits and any unused tax losses to the extent that it is probable that taxable
profit will be available against which the deductible temporary differences, and the carry
forward of unused tax credits and unused tax losses can be utilised.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and
reduced to the extent that it is no longer probable that sufficient taxable profit will be
available to allow all or part of the deferred tax assets to be utilised. Unrecognised deferred
tax assets are re-assessed at each balance sheet date and are recognised to the extent that it
has become probable that future taxable profits will allow the deferred tax asset to be
recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in
the year when the asset is realised or the liability is settled, based on tax rates (and tax laws)
that have been enacted or substantively enacted at the balance sheet date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to
set off deferred tax assets against deferred tax liabilities and the deferred taxes relate to the
same taxable entity and the same taxation authority.

2.14 Provisions, contingent liabilities and contingent assets

a) A provision is recognized if, as a result of a past event, the Company has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. Provisions are not recognised for
future operating losses. If the effect of the time value of money is material, provisions are
determined by discounting the expected future cash flows at current pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability.
When discounting is used, the increase in the passage of time is recognized as finance costs.
The amount recognized as a provision is the best estimate of the consideration required to
settle the present obligation as at the balance sheet date, taking into account the risks and
uncertainties surrounding the obligation. When some or all of the economic benefits required
to settle a provision are expected to be recovered from a third party, the receivable is
recognized as an asset, if it is virtually certain that reimbursement will be received and the
amount of the receivable can be measured reliably. The expense relating to provision is
presented in the Statement of Profit and Loss, net of any reimbursement.

b) A contingent liability is not recognised in the financial statements, however, is disclosed,
unless the possibility of an outflow of resources embodying economic benefits is remote. If it
becomes probable that an outflow of future economic benefits will be required for an item
dealt with as a contingent liability, a provision is recognized in the financial statements of the
period (except in the extremely rare circumstances where no reliable estimate can be made).

c) A contingent asset is not recognised in the financial statements, however, is disclosed,
where an inflow of economic benefits is probable. When the realisation of income is virtually
certain, then the related asset is no longer a contingent asset, and is recognised as an asset.

d) Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet
date.

2.15 Dividend

Final dividend (if declared) on shares is recorded as a liability on the date of approval by the
shareholders and interim dividends (if declared) are recorded as a liability on the date of
declaration by the Company''s Board of Director''s

2.16 Earnings per Share

a) Basic earnings per share are computed by dividing the net profit/(loss) after tax by the
weighted average number of equity shares outstanding during the year.

b) Diluted earnings per share are computed by dividing the net profit/(loss) after tax by the
weighted average number of equity shares considered for deriving basic earnings per share
and also the weighted average number of equity shares which could be issued on the
conversion of all dilutive potential equity shares.

2.17 Cash and cash equivalents

Cash and cash equivalents in the Balance sheet comprise cash on hand, cheques on hand,
balance with banks on current accounts and short term, highly liquid investments with an
original maturity of three months or less if any and which carry insignificant risk of changes
in value.

For the purpose of the Cash Flow Statement, Cash and cash equivalents consist of Cash and
cash equivalents, as defined above and net of outstanding book overdrafts (if any) as they are
considered an integral part of the Company’s cash management.

2.18 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit/loss before tax is adjusted
for the effects of transactions of a non-cash nature, any deferrals or accruals of past or
future operating cash receipts or payments and item of income or expenses associated with
investing or financing flows. The cash flows from operating, investing and financing activities
of the Company are segregated.

Note No. 3.

3(a). Recent Pronouncements

Ministry of Corporate Affairs notification dated 31st March, 2023 notified Companies (Indian-
Accounting Standards) Amendment Rules, 2023(the ‘Rules’) which amends certain
accounting standard. The Rules predominantly amend Ind AS 12, Income taxes, and Ind AS
1, presentation of financial statements. The other amendments to Ind AS notified by these
rules are primarily in the nature of clarifications. These amendments are not expected to
have a material inpact on the Company in the current or future reporting periods and on
foreseeable future transactions. Specifically, no changes would be necessary as a
consequence of amendments made to Ind AS12 as the Company’saccounting policy already
complies with the now mandatory treatment.

The ultimate realization of the deferred tax assets, carried forward losses and unused tax
credits is dependent upon the generation of future taxable income during the periods in
which the temporary difference become deductible. Management considers the scheduled
reversals of deferred tax liabilities, projected future taxable income and the planning
strategies in making this assessment. Based on the historical taxable income and projection
of future taxable income over the periods in which the deferred tax assets are deductible,
management believes that the Company will realize the benefits of those recognized
deductible differences, carried forward losses and portion of unused tax credits.

a) Inter-corporate and other loans are unsecured and generally receivable on demand and
are for general business purposes, as lending is the primary business of the company. Since
loans are generally of short duration and repayable on demand hence transaction value
approximates the fair value.

b) There are no debts and loans due by directors or other officers of the company either
severally or jointly with any other person or debts due by firms or private companies
respectively in which any director is a partner or a director or a member.

c) Impairment of loans are on actual basis, further loss allowance for previous year is made
as per general approach if any.

Note No. : 27 Other disclosures
Additional Regulatory Information

Amended Schedule III of the Companies Act 2013 requires additional regulatory information to be
provided in financial statements. These are as follows;

1) Title deeds of Immovable Property

Title deeds of immovable properties in the case of freehold land, (for description refer note no 4) are held in the
name of the Company.

2) Fair valuation of Investment property

The company has not classified any property as Investment property, hence fair valuation of Investment
property by a registered valuer as defined under Rule 2 of Companies (Registered Valuers and Valuation) Rules,
2017 does not arise.

3) Revaluation of Property, Plant and Equipment and Right -of- Use Assets.

The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during
the current reporting period and also reporting period and also for previous year''s reporting period.

4) Loans or advances to specified persons

The Company has not granted any loans or advances to promoters, directors, KMPs and the related parties (as
defined under the Companies Act 2013, either severally or jointly with any other person, that are (a) repayable
on demand, or (b) without specifying any terms or period of repayment.

5) Capital Work in Progress

There was no capital work in progress during the Financial Year 2024-2025 and no amount was spent on this
account upto 31-03-2025.

6) Intangible Assets under development

The Company does not have any intangible assets under development during the current and previous year
reporting period.

7) Details of Benami Property held: Additional Disclosure

The Company does not hold any Benami Property and hence there were no proceedings initiated or pending
against the Company for holding any benami property under the Benami Transactions (Prohibitions) Act, 1988
and the Rules made thereunder, hence no disclosure is required to be given as such.

8) Borrowings secured against current assets

The Company does not have any borrowings from banks or financial on the basis of security of current assets
(except lien on Bank Fixed Deposits for availing temporary overdraft facilities - Refer Note - 6 on Accounts)
hence no disclosure is required as such on this account.

9) Willful Defaulter

The Company has not been declared as willful defaulter as at the date of the balance sheet or on the date of
approval of the financial statements, hence no disclosure is required as such.

10) Relationship with Struck off Companies

The Company does not have any transactions with Companies which are struck off under Section 248 of the
Companies Act, 2013 or Section 560 of the Companies Act, 1956, hence no disclosure is required as such.

11) Registration of Charges or Satisfaction with Registrar of Companies (ROC)

There are no charges against the companies which are yet to be registered or satisfaction yet to be registered
with ROC beyond the statutory period, hence no disclosures are required as such.

12) Compliance with number of layers of companies

The Company does not have investment in any downstream companies for which it has to comply with the
number of layers prescribed under Clause (87) of Section 2 of the Companies Act, 2013 read with Companies
(Restriction on number of layers) Rules, 2017, hence no disclosure is required as such.

13) Utilization of Borrowings

The Company does not have any outstanding balances towards the borrowings from banks and financial
institutions at the balance sheet date, hence no further disclosure is required as such.

14) Utilization of Borrowed Funds and Share Premium

(A) The Company has not advanced or loaned or invested funds (either borrowed funds or Share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities
(intermediaries) with the understanding (whether recorded in writing or otherwise) that the intermediary
shall;

a. Directly or indirectly lent or invest in other person(s) or entity (ies) identified in any manner whatsoever by
or on behalf of the company (Ultimate Beneficiaries) Or

b. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries. Hence no disclosure
is required as such.

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Parties) with the understanding (whether recorded in writing or otherwise ) that the company
shall;

a. Directly or indirectly lend or invest in other person(s) or entity(ies) identified in any manner whatsoever by
or on behalf of the Funding Party (Ultimate Beneficiaries) Or

b. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries. Hence no disclosure
is required as such.

15) Undisclosed Income

The Company does not have any undisclosed Income which was not recorded in the books of accounts and which
has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act,
1961 such as, search or survey or any other relevant provisions. Also the Company does not have previously
unrecorded income and related assets which were required to be properly recorded in the books of accounts
during the year.

16) Details of Crypto Currency Or Virtual Currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year, hence
disclosure requirements for the same is not applicable.

17) Corporate Social Responsibility Activities

The provisions of section 135 of the companies act, 2013 with respect to Corporate Social Responsibility
activities are not applicable to the company for the Financial Year 2024-2025.

(2) The Company uses the following fair value hierarchy for determining and disclosing the fair value

of financial instrument:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists of
investment in quoted equity shares

Level 2:Inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly or indirectly.

Level 3:Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

Fair values are determined in whole or in part, using a valuation model based on assumptions that are
neither supported by prices from observable current market transactions in the same instrument nor
are they based on available market data. This level of hierarchy includes Company''s investment in
equity shares which are unquoted or for which quoted prices are not available at the reporting dates.

There have been no transfers between Level 1 and Level 2 either during the year ended 31^stMarch

2025 or during the year ended 31st March 2024.

(i) Investments carried at fair value are generally based on market price quotations. These investments in equity
instruments are not held for trading. Instead, they are held for long term strategic purpose. The Company
has chosen to designate these investments in equity instruments at FVOCI since; it provides a more
meaningful presentation. Cost of certain investments in equity instruments have been considered as an
appropriate estimate of fair value because of wide range of possible fair value measurements and cost
represents the best estimate of fair value within that range.

(ii) Fair value of cash and cash equivalents, bank balances other than cash and cash equivalents, loans and other
current & Non-current financial assets, and other current financial liabilities approximate their carrying
amounts due to the short term maturities of these instruments.

(iii) Management uses its best judgment in estimating the fair value of its financial instruments. However, there
are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the
fair value estimates presented above are not necessarily indicative of the amounts that the Company could
have realised or paid in sale transactions as of respective dates. As such, fair value of financial instruments
subsequent to the reporting dates may be different from the amounts reported at each reporting date.

3) Financial risk management objectives and policies

The Company does not have financial liabilities for the current reporting period except for certain non -fund
based Bank overdraft. The Company''s principal financial assets include Cash and cash equivalents, loans
repayable on demand, fixed deposits with banks and other financial assets including investments in equity
and private funds.

The Company is exposed to liquidity risk & market risk The company''s Senior management under the
supervision of Board of Directors oversees the management of these risks. The senior management provides
assurance that the Company''s financial risk activities are governed by appropriate policies and procedures
and that financial risks are identified, measured and managed in accordance with the Company''s policies and
risk objectives.

(a) Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market prices. Market risk comprises of interest rate risk, credit risks and other risks, such as
regulatory risk and country risk.

(b) Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. The Company''s exposure to the risk of changes in market
interest rates relates primarily to the Company''s obligations towards Bank overdraft with floating interest
rates. But since it is for short duration it doesn''t cast significant risk owing to this exposure. To mitigate the
interest rate risk, the Company maintains an impeccable track record and ensures long term relation with
the lenders to raise adequate funds at competitive rates. Company has access to low cost borrowings,
because of its healthy balance sheet and presently the company does not have any borrowings as on the
reporting date.

(c) Risk is inherent in every business activity and the company is no exception. The company is exposed to
risks from overall market, changes in Government policies, law of the land and taxation to name a few.

(d) Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or
customer contract, leading to a financial loss. The impairment for financial assets are based on assumptions
about risk of default and expected loss rates. The Company uses judgement in making these assumptions
and selecting the inputs to the impairment calculation, based on the Company''s past history, existing
market conditions as well as forward looking estimates at the end of each balance sheet date. Financial
assets are written off when there is no reasonable expectation of recovery, however, the Company
continues to attempt to recover the receivables. Where recoveries are made, these are recognised in the
Statement of Profit and Loss Based on Company''s past history and the model under which company
operates doesn''t cast significant credit risk leading to impairment of its financial assets. In case of loans the
company applies general approach to measure the expected credit loss.

(e) Balances with banks

Credit risk from balances with banks is managed in accordance with the Company''s policy.

4) Capital Management

The Company''s capital management is intended to create value for shareholders by facilitating the meeting
of long term and short term goals of the Company.

The Company determines the amount of capital required on the basis of annual business plan coupled with
long term and short term Strategic investments and expansion plans.

At present the Company is non-operational in Industries and the Company has deployed its funds in shares
and securities and with bank fixed deposits and by providing loans. Further the management of the
company is evaluating the future business plans either in the same or in different industry.

For the purpose of the Company''s capital management, capital includes issued equity capital, securities
premium and all other equity reserves attributable to the equity shareholders of the Company. The
Company''s objective when managing capital is to safeguard its ability to continue as a going concern so
that it can continue to provide returns to shareholders and other stake holders. The Company manages its
capital structure and makes adjustments in light of changes in the financial condition and the requirements
of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the
dividend payment to shareholders, return capital to shareholders (buy back its shares) or issue new shares.
In order to achieve this overall objective, the Company''s capital management, amongst other things, aims
to ensure that it meets financial covenants if any from time to time.

5) Previous period figures have been re-grouped/ re-classified wherever necessary, to confirm to

current period''s classification and in order to comply with the requirements of the amended
Schedule III to the Companies Act, 2013 effective.

---

Mar 31, 2024

Note (a)

Security deposits are repayable on demand, hence transaction value approximates fair value Note (b)

Balances with banks includes Fixed deposits of Rs.46.00 Lacs under lien for Bank Guarantees of Rs 46.00 Lacs issued in Central Coalfields Ltd (Rs 46.00 Lacs for P.Y 2022-23)

Note (c)

Balances with banks in fixed deposits accounts include deposits under lien of Rs 1390.00 lacs to avail overdraft, if needed. (Rs. 1166.00 lacs as on 31.03.2023).

In assessing the reliability of the deferred tax assets, management considers whether some portion or all of the deferred tax assets will not be realized.

The ultimate realization of the deferred tax assets, carried forward losses and unused tax credits is dependent upon the generation of future taxable income during the periods in which the temporary difference become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income and the planning strategies in making this assessment. Based on the historical taxable income and projection of future taxable income over the periods in which the deferred tax assets are deductible, management believes that the Company will realise the benefits of those recognised deductible differences, carried forward losses and portion of unused tax credits.

a)    Inter-corporate loans are unsecured and receivable on demand and are for general business purposes, as lending is the primary business of the company. Since loans are generally of short duration and repayable on demand hence transaction value approximates the fair value.

b)    There are no debts and loans due by directors or other officers of the company either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or a director or a member.

c)    Impairment of loans are on actual basis, further loss allowance for previous year was made as per general approach if any.

a) There are no advances made/ due by directors or other officers of the company either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or a director or a member.

(d)    The Company has only one class of equity shares. The holders of equity shares are entitled to receive dividend as declared from time to time and are entitled to one vote per share.

(e)    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 dues. The distribution will be in proportion to the number of equity shares held by the shareholders.

(f)    The company is neither a holding company nor a subsidiary company.

(i)    There are no shares reserved for issue under options and contracts / commitments for the sale of shares/ disinvestments.

(j)    For the period of 5 years immediately preceding the date as at which the Balance Sheet is prepared.

(k)    There were no securities issued having a term for conversion into equity / preference shares.

(l)    There are no calls unpaid in respect of Equity Shares issued by the Company.

(m)    There are no forfeited shares by the Company.

Note:

(i)    Securities premium is used to record the premium on issue of shares. The General reserve is eligible for utilization in accordance with the provisions of the Companies Act 2013.

(ii)    General reserve represents amounts appropriated out of retained earnings based upon the provisions of the Act prior to its amendment.

(iii)    Other Comprehensive income ('OCI') represents the cumulative gains and losses arising on the revaluation of equity instruments measured at fair value through Other Comprehensive income ('OCI') net of Taxes.

a)    As required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 with respect to trade payables, since the company's operation in its manufacturing units are closed the company has no outstanding towards it.

b)    Further pursuant to amendment in Schedule III as notified by the MCA on 24th March, 2023, the Company is required to disclose Aging Schedule of 'Trade Payables due for payment' as on the Balance sheet as under.

c) Since the company did not carry out any operations relating to production and selling of its products, hence there were no trade payables as at the end of current reporting period as well as for previous year's reporting period.

1)	Contingent liabilities and commitments & relevant disclosures (to the extent not provided for)
Â	Contigent liabilities :		Â	Â
Â	Particulars		As at March	As at March
Â	Â		31, 2024	31, 2023
Â	a)	Bank Guarantee issued by the HDFC Bank in favour of Central Coal fields Ltd. Being Bank Guarantee No.014GT01133450003 dated 11.12.2013 for Rs.46,00,000/- and renewed on 21.02.2024 for a period upto 31.03.2025 against which the company has pledged/created lien on it's fixed deposits with the HDFC Bank Ltd. NOTE: The company has been forced to issue this bank guarantee in favour of CCL Limited despite the fact that the company has filed a Writ Petition against the said coal supplier company in the Honble High Court of Ranchi, Jharkhand for company's various legitimate claims and interest thereon and against the wrongful and illegal retention of an amount of Rs. 126.34 Lakhs being the coal purchase advance which the company had given to CCL Limited. The company is very hopeful that the case will be decided in its favour and there upon the purchase advance wrongfully detained and the company's other claims will be accounted for in the books of accounts in the year of receipt."	46.00	46.00
Â	b)	The company is contesting a money recovery suit for Rs 27,05,436/- (Plus Interest) at district court Nalgonda, Telengana ) mischievously filed against the company by M/s Shri Balaji Transport (Proprietor Jonnalagadda Balaji) a transporter who used to transport iron ore to company's erstwhile Sponge Iron Plant located at village Chityal, Nalgonda, Telengana. The said transporter had indulged in dishonest and illegal activities at company's plant in collusion with certain people and employees resulting in huge losses to the company during the year 2005 and later the said loss was determined/estimated and adjusted against the transport charges of the said transporter and his account was paid off in full and final settlement and hence no further amount is payable or due to the said party. The company is very hopeful that the aforesaid money recovery suit will be decided in its favour and against the said transport company and accordingly no provision in the accounts has been made for such amount.	27.05	27.05

2) As per the requirements of section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 with respect to trade payables, the Company has no outstanding towards any party as on 31.03.2024.

3) Disclosures as required by Indian Accounting Standard (Ind AS) 37:- Provisions, Contingent liabilities and Contingent assets.

(i) Nature of provision

Provision for contingencies

Provision for contingencies represent provision towards various claims made/anticipated in respect of duties and taxes and other litigation claims against the Company based on the Management's assessment.

a)    The transaction with related parties have been entered at an amount which are not materially different from those on normal commercial terms. The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions.

b)    The remuneration of directors is determined by the Nomination & Remuneration Committee having regard to the performance of individuals and market trends and as further approved by the Board.

7) Disclosures under Schedule V to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: The Company does not have any holding or subsidiary Company. The other necessary disclosures are furnished in the Report of the Board of Directors dated 7th May, 2024 and annexed to the Annual Report for the financial year ended 31.03.2024. Please refer to the same.

Note No. : 27 Other disclosures Additional Regulatory Information

Amended Schedule III of the Companies Act 2013 requires additional regulatory information to be provided in financial statements. These are as follows;

1)    Title deeds of Immovable Property

Title deeds of immovable properties in the case of freehold land, (for description refer note no 4) are held in the name of the Company.

2)    Fair valuation of Investment property

The company has not classified any property as Investment property, hence fair valuation of Investment property by a registered valuer as defined under Rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017 does not arise.

3)    Revaluation of Property, Plant and Equipment and Right -of- Use Assets.

The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the current reporting period and also reporting period and also for previous year's reporting period.

4)    Loans or advances to specified persons

The Company has not granted any loans or advances to promoters, directors, KMPs and the related parties (as defined under the Companies Act 2013, either severally or jointly with any other person, that are (a) repayable on demand, or (b) without specifying any terms or period of repayment.

5)    Capital Work in Progress

There was no capital work in progress during the Financial Year 2023-2024 and no amount was spent on this account upto 31-03-2024.

6)    Intangible Assets under development

The Company does not have any intangible assets under development during the current and previous year reporting period.

7)    Details of Benami Property held: Additional Disclosure

The Company does not hold any Benami Property and hence there were no proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibitions) Act, 1988 and the Rules made thereunder, hence no disclosure is required to be given as such.

8)    Borrowings secured against current assets

The Company does not have any borrowings from banks or financial on the basis of security of current assets (except lien on Bank Fixed Deposits for availing temporary overdraft facilities - Refer Note - 6 on Accounts) hence no disclosure is required as such on this account.

9)    Willful Defaulter

The Company has not been declared as willful defaulter as at the date of the balance sheet or on the date of approval of the financial statements, hence no disclosure is required as such.

10)    Relationship with Struck off Companies

The Company does not have any transactions with Companies which are struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956, hence no disclosure is required as such.

11)    Registration of Charges or Satisfaction with Registrar of Companies (ROC)

There are no charges against the companies which are yet to be registered or satisfaction yet to be registered with ROC beyond the statutory period, hence no disclosures are required as such.

12)    Compliance with number of layers of companies

The Company does not have investment in any downstream companies for which it has to comply with the number of layers prescribed under Clause (87) of Section 2 of the Companies Act, 2013 read with Companies (Restriction on number of layers) Rules, 2017, hence no disclosure is required as such.

13)    Utilization of Borrowings

The Company does not have any outstanding balances towards the borrowings from banks and financial institutions at the balance sheet date, hence no further disclosure is required as such.

14)    Utilization of Borrowed Funds and Share Premium

(A)    The Company has not advanced or loaned or invested funds (either borrowed funds or Share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding (whether recorded in writing or otherwise) that the intermediary shall;

a.    Directly or indirectly lent or invest in other person(s) or entity (ies) identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) Or

b.    Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries. Hence no disclosure is required as such.

(B)    The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Parties) with the understanding (whether recorded in writing or otherwise ) that the company shall;

a.    Directly or indirectly lend or invest in other person(s) or entity(ies) identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) Or

b.    Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries. Hence no disclosure is required as such.

15)    Undisclosed Income

The Company does not have any undisclosed Income which was not recorded in the books of accounts and which has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 such as, search or survey or any other relevant provisions. Also the Company does not have previously unrecorded income and related assets which were required to be properly recorded in the books of accounts during the year.

16)    Details of Crypto Currency Or Virtual Currency

The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year, hence disclosure requirements for the same is not applicable.

17)    Corporate Social Responsibility Activities

The provisions of section 135 of the companies act, 2013 with respect to Corporate Social Responsibility activities are not applicable to the company for the Financial Year 2023-2024.

Notes

1)    Earnings available for debt service = Net profit before taxes + Non-cash operating expenses (depreciation) + Interest + Other adjustments like loss on sale of fixed assets

2)    Debt Service = Interest & lease payments + Principal Repayments

3)    Capital employed = Tangible net worth +Total debt

4)    Net Return on Investment = Value of Investment at the end of the period - Value of Investment at the beginning of the period

5)    Cost of Investment = Value of Investment at the end of the period Note No. : 28 Other disclosures

1) Financial instruments - Accounting, Classification and Fair value measurements

This section gives an overview of the significance of financial instruments for the Company and provides additional information on balance sheet items that contain financial instruments.

The details of significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised in respect of each class of financial asset, financial liability and equity instrument are disclosed in Note 2 to the financial statements.

B. Fair value hierarchy

The fair value of the financial assets and financial liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

(2) The Company uses the following fair value hierarchy for determining and disclosing the fair value of

financial instrument:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists of investment in quoted equity shares

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This level of hierarchy includes Company's investment in equity shares which are unquoted or for which quoted prices are not available at the reporting dates.

Carrying value of investments in unquoted shares approximates cost at which they are purchased.

There have been no transfers between Level 1 and Level 2 either during the year ended 31^stMarch 2024 or

during the year ended 31st March 2023.

(i)    Investments carried at fair value are generally based on market price quotations. These investments in equity instruments are not held for trading. Instead, they are held for long term strategic purpose. The Company has chosen to designate these investments in equity instruments at FVOCI since; it provides a more meaningful presentation. Cost of certain investments in equity instruments have been considered as an appropriate estimate of fair value because of wide range of possible fair value measurements and cost represents the best estimate of fair value within that range.

(ii)    Fair value of cash and cash equivalents, bank balances other than cash and cash equivalents, loans and other current & Non-current financial assets, and other current financial liabilities approximate their carrying amounts due to the short term maturities of these instruments.

(iii)    Management uses its best judgment in estimating the fair value of its financial instruments. However, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented above are not necessarily indicative of the amounts that the Company could have realised or paid in sale transactions as of respective dates. As such, fair value of financial instruments subsequent to the reporting dates may be different from the amounts reported at each reporting date.

3)    Financial risk management objectives and policies

The Company does not have financial liabilities for the current reporting period except for certain non -fund based Bank overdraft. The Company's principal financial assets include Cash and cash equivalents, loans repayable on demand, fixed deposits with banks and other financial assets including investments in equity and private funds.

The Company is exposed to liquidity risk & market risk The company's Senior management under the supervision of Board of Directors oversees the management of these risks. The senior management provides assurance that the Company's financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company's policies and risk objectives.

(a)    Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of interest rate risk, credit risks and other risks, such as regulatory risk and country risk.

(b)    Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's obligations towards Bank overdraft with floating interest rates. But since it is for short duration it doesn't cast significant risk owing to this exposure. To mitigate the interest rate risk, the Company maintains an impeccable track record and ensures long term relation with the lenders to raise adequate funds at competitive rates. Company has access to low cost borrowings, because of its healthy balance sheet and presently the company does not have any borrowings as on the reporting date.

(c)    Risk is inherent in every business activity and the company is no exception. The company is exposed to risks from overall market, changes in Government policies, law of the land and taxation to name a few.

(d)    Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The impairment for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on the Company's past history, existing market conditions as well as forward looking estimates at the end of each balance sheet date. Financial assets are written off when there is no reasonable expectation of recovery, however, the Company continues to attempt to recover the receivables. Where recoveries are made, these are recognised in the Statement of Profit and Loss Based on Company's past history and the model under which company operates doesn't cast significant credit risk leading to impairment of its financial assets. In case of loans the company applies general approach to measure the expected credit loss.

(e)    Balances with banks

Credit risk from balances with banks is managed in accordance with the Company's policy.

4)    Capital Management

The Company's capital management is intended to create value for shareholders by facilitating the meeting of long term and short term goals of the Company.

The Company determines the amount of capital required on the basis of annual business plan coupled with long term and short term Strategic investments and expansion plans.

At present the Company is non-operational in Industries and the Company has deployed its funds in shares and securities and with bank fixed deposits and by providing short term loans. Further the management of the company is evaluating the future business plans either in the same or in different industry.

For the purpose of the Company's capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity shareholders of the Company. The Company's objective when managing capital is to safeguard its ability to continue as a going concern so that it can continue to provide returns to shareholders and other stake holders. The Company manages its capital structure and makes adjustments in light of changes in the financial condition and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders (buy back its shares) or issue new shares.

In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that it meets financial covenants if any from time to time.

5)    Previous period figures have been re-grouped/ re-classified wherever necessary, to confirm to current period's classification and in order to comply with the requirements of the amended Schedule III to the Companies Act, 2013 effective April, 2021.

---

Mar 31, 2015

1 Terms/Rights attached to Equity Shares

The Company has only one class of equity shares having a per value of Rs.10 par share. Each holder of equity share is entitled to one vote per share and ranks Pari-pasu.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company after settlement of all outside liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.

(a) Balances with banks includes Fixed deposits under lien for Bank Guarantees of Rs. 46,00,000/- issued to Central Coalfields Ltd. and Rs.82,08,000/- to The Singareni Collieries Co. Ltd. (Previous Year Rs.1,02,16,000/-).

(b) Balances with banks in deposit accounts include deposits under lien of Rs.8,50,00,000/- (previous year Rs.8,50,00,000/-)to the HDFC Bank Ltd. as security against overdraft facility provided by the said bank against the aforesaid Fixed Deposits.

(c) Balances with banks include deposits of Rs.12,01,31,888/- (previous year Rs 11,08,42,966/- ) having original maturity of 12 months or more.

2 .Lease:

The Company has leased its RLHG/LPG Bottling Plant in the WBIIDC land located at ULUBERIA, Howrah, (W. Bengal) along with all existing building, structures and equipment, storage bullets, piping etc. situated on the same land and the plant and equipment and other immovable assets with effect from 21.3.2000. The Lease Period has been renewed for a period of 3 years from 01.04.2013 to 31.03.2016. The requirement of disclosure under AS 19 in respect of Lease is not applicable as it came into effect in respect of asset leased during accounting periods commencing on or after 01.04.2001 only.

3 . During the year, in terms of accounting standard AS-28 issued by the Institute of Chartered Accountants of India on ''Impairment of Assets'', the company has determined that there was impairment loss in respect of its assets amounting to Rs. 1,85,037/- which has been charged in the Profit & Loss Account.

4 . Contingent Liabilities:

a) Bank Guarantees issued by the HDFC Bank in favour of Third Parties as follows:

i) Bank Guarantee No.014GT01133450003 dated 11.12.2013 for Rs.46,00,000/- issued in favour of Central Coal Fields Ltd. against which the company has pledged/ created lien on it fixed deposits with the HDFC Bank Ltd.

ii) Bank Guarantee No.GTEE/304557 dated 29.04.2014 for Rs.56,16,000/- issued in favour of The Singareni Collieries Co, Ltd. against which the company has pledged/ created lien on it fixed deposits with the HDFC Bank Ltd.

iii) Bank Guarantee No.GTEE/304734 dated 16.05.2014 for Rs.25,92,000/- issued in favour of The Singareni Collieries Co, Ltd. against which the company has pledged/ created lien on it fixed deposits with the HDFC Bank Ltd.

b) Claims not acknowledged by company are as under:-

2014-15 2013-14 (Rs.) (Rs.)

(1) VAT on Coal Purchase 15,08,910 15,08,910 (net of payment)

(2) Income Tax (Pending before 11,92,821 11,92,821 Appellate authorities & Hon''ble ITAT in respect of which the company is in appeal.)

(3) CENVAT on capital goods (net of payment) 12,14,662 12,14,662

c) Compensation of Rs. 1,15,48,530/- for Company''s alleged non-lifting of coal wrongly and illegally claimed by M/S Central Coalfield Ltd., Ranchi and the Company has refused and refuted such illegal and baseless claims and the entire matter is pending with the Hon''ble High Court at Ranchi for adjudication.

5 . The balances of debtors and creditors are subject to confirmation by the parties.

6 . Estimated amount of contracts remaining to be executed on Capital Accounts and not provided for(net of advance payment) Rs. Nil (Previous year Rs.Nil )

7 . Deposits include National Savings Certificates and Post Office Savings Deposit pledged with:

(i) Commercial Tax Authorities Rs.10, 000/- (Previous year Rs.10, 000/-)

(ii) Mining Licensing Authorities Rs.105, 000/- (Previous year Rs.105, 000/-)

8. There is decline other than temporary, in the value of one long term investment in Equity share, therefore the resultant reduction of Rs. 3,41,600/- in the carrying amount is charged to the profit & loss account as per AS-13.

9 . No interest has been paid/or is payable by the Company during the year to the "Suppliers" covered under the micro Small and Medium Enterprises Development Act, 2006. To the extent information available with the company, none of the suppliers were covered under the provisions of Micro Small and Medium Enterprises Development Act, 2006.

10 . Effective March, 2011; M/s. Central Coalfields Ltd., Ranchi, had increased the price of ''B'' Grade coal by whopping approx. 130% overnight in one stroke resulting in the aforesaid coal becoming absolutely unviable and uneconomical for the production of Sponge Iron at Company''s Sponge Iron Plant located at Jamshedpur. Accordingly, the Company had made several requests and representations, verbally and in writing to them with a request to supply Grade ''C'' coal or lower grade of coal whose price increase was only 30% but Central Coalfields Ltd. most arbitrarily and illegally refused such valid requests of the company. Being highly aggrieved by this most illegal, unjustified, arbitrary and discriminatory act ; the Company had taken legal action against Central Coalfields Ltd. (CCL) in the Hon''ble High Court at Ranchi and that matter is under hearing and adjudication. As the Company suffered heavy losses for non- supply of coal by CCL, despite having provided them with Bank Guarantees of Rs.46,00,000/- and Coal advance amount of Rs.1,14,30,107/-; it got entitled for compensation from Central Coalfields Ltd. as per Clause No . 4.5 to 4.8 of FSA dated 29.04.2008 entered with them and also based on law of equity and justice and it accordingly raised on CCL a Compensation Bill of Rs. 99.45,450/- for accounting year 2011-12 and Rs. 99,45,450/- for accounting year 2012-13 along with an Interest amount of Rs. 6,86,644/- receivable on the said compensation amount and an Interest Bill of Rs. 45,33,763/- on Company''s purchase advance amount of Rs. 1,14,30,107/- lying with them. Upon refusal by Central Coalfields Ltd. to pay the aforesaid compensation and interest amounts; the Company has filed legal suits against the Central Coalfields Ltd. at Hon''ble High Court at Ranchi and the said suits are pending for hearing and adjudication. Since the matter is subjudice; the Company will account for the aforesaid compensation and interest amount being legitimately receivable from Central Coalfields Ltd. on actual receipt basis after the final verdict is announced by the Hon''ble High Court at Ranchi and/or higher courts. The company has claimed further interest on the above accounts for the subsequent years and the total of such cumulative amounts stand at Rs.2,05,89,480/- as on 31.3.2015 and the same shall be accounted for on receipt basis.

11 . In accordance with Accounting Standard 19 on ''Leases'' as notified under the Companies (Accounting Standards) Rules 2006 the following disclosures in respect of operating leases are made.

The Company has taken factory land premises at Adityapur from Adityapur Industrial Area Development Authority under operating lease on 11.03.99 for a period of 90 years.

12 Depreciation on Fixed Assets in the current year calculated and based on the method as prescribed in Schedule II of the Companies Act,2013 is Rs.67,45,638/-. However if depreciation was calculated based on earlier method prescribed in Schedule XIV of the previous Company''s Act,1956 the amount of depreciation chargeable to Profit & Loss Account would have been Rs. 1,11,38,919. Therefore the difference arising due to the change in the method of depreciation is Rs. 43,93,281 and to that extent loss for the financial year under review is understated.

13 During the financial year ended 31.3.15, the company has provided unsecured inter corporate loans to M/s Consortium Capital Pvt. Ltd. & Limtex (India) Ltd. for their Working Capital needs but such loans have not exceeded the limits prescribed u/s 186 of the Companies Act, 2013. Beside these; the company has not provided loans to any other person or made any investments or given any kind of guarentee to or on behalf of any person.

14 The revised schedule III to the Companies Act, 2013 has become effective for preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Accordingly, the figures for the previous year have been re-classified, wherever necessary to conform with the current year''s classification.

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Mar 31, 2014

1. Share Capital:

(a) The entire Share Capital comprises of Equity Shares, and the shareholders have equal rights in respect of distribution of dividends and the repayment of capital.

(b) The company is neither a holding company nor a subsidiary company.

(c) There are no shares reserved for issue under options and contracts/commitments for the sale of shares/disinvestment.

(d) For the period of 5 years immediately preceding the date as at which the Balance Sheet is prepared.

(e) Shares in the company held by each shareholders holding more than 5 per cent shares:

(f) There were no securities issued having a term for conversion into equity/preference shares.

(g) There are no calls unpaid in respect of Equity Shares issued by the company.

(h) There are no forfeited shares by the company.

(i) Terms/Rights attached to Equity Shares

The Company has only one class of equity shares having a per value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share and ranks pari pasu. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company after settlement of all outside liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Non-current Investments (At cost):

Trade Investments:

(a) Investments in Equity Instalments fully paid up(Quoted)

None of the above companies are subsidiaries or associates or joint ventures or controlled special purpose entities.

(b) Investment in Equity Instruments fully paid up (Unquoted) in associated company

3. Trade Receivables:

(i) Allowance to be made for doubtful debt is not necessary.

(ii) There are no debts due by directors or other officers of the company either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or a director or a member.

4. Cash and Bank Balances:

a) Balances with banks includes deposits under lien of Rs. 46,00,000/- issued to Central Coalfields Ltd. and Rs. 56,16,000/- issued to The Singareni Collieries Co. Ltd. (Previous Year Rs. 53,86,594/-) against bank guarantees.

b) Balances with banks in deposit accounts include deposits under lien of Rs. 8,50,00,000/- (previous year Rs. 8,50,00,000/-)to the HDFC Bank Ltd. for security against overdraft facility provided by the said bank.

c) Balances with banks include deposits of Rs. 11,08,42,966/- (previous year Rs. 14,79,99,278/-) having original maturity of 12 months or more.

5. Cost of materials consumed:

Consumption of coal of the current year include the cost value of 1840.700 MT of coal valuing Rs. 40,29,293 sold during the year out of the opening stock quantity.

6. Lease:

The Company has leased its RLHG/LPG Bottling Plant in the WBIIDC land located at ULUBERIA, Howrah, (W. Bengal) along with all existing building, structures and equipment, storage bullets, piping etc. situated on the same land and the plant and equipment and other immovable assets with effect from 21.3.2000. The Lease Period has been renewed during the year for a period of 3 years from 01.04.2013 to 31.03.2016. The requirement of disclosure under AS 19 in respect of Lease is not applicable as it came into effect in respect of asset leased during accounting periods commencing on or after 1.4.2001 only.

7. Deferred Tax Liability/(Asset): Income Tax:

In accordance with the requirement of Accounting Standard (AS) 22 on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the deferred tax asset of Rs. 23,21,146/- for the year has been recognized in the Profit & Loss Account for the year.

8. During the year, in terms of accounting standard AS-28 issued by the Institute of Chartered Accountants of India on ''Impairment of Assets'', the company has determined that there was no potential impairment loss in respect of its assets.

9. Contingent Liabilities:

a) Bank Guarantees issued by the HDFC Bank in favour of Third Parties as follows:

i) Bank Guarantee NO.014GT01133450003 dated 11.12.2013 for Rs. 46,00,000/- issued in favour of Central Coalfields Ltd. against which the company has pledged/created lien on it fixed deposits with the HDFC Bank Ltd.

ii) Bank Guarantee No. 014GT02121370001 dated 03.04.2013 for Rs. 56,16,000/-issued in favour of The Singareni Collieries Company Ltd.

c) Compensation of Rs. 1,15,48,530/- for Company''s alleged non-lifting of coal wrongly and illegally claimed by M/S Central Coalfields Ltd., Ranchi as Company has refused and refuted such illegal and baseless claims and the entire matter is pending with the Hon''ble High Court at Ranchi.

10. On the basis of a writ petition filed by the Company against State Government''s order withdrawing remission of Sales Tax pursuant to imposition of VAT in the State; the Hon''ble High Court of Jharkhand at Ranchi has allowed the benefit of deferment of tax for VAT and although the Hon''ble High Court order is not specific about deferment of CST, the Company assumes that deferment order is applicable to both VAT and CST in respect of its sales from it''s Sponge Iron plant at Jamshedpur. The company has accordingly paid the entire disputed tax liability on account of CST Rs. 31,63,636/- and of VAT Rs. 33,72,410/- till the end of the year, although this matter is pending for decision before the Hon''ble Supreme Court.

11. The balances of debtors and creditors are subject to confirmation by the parties.

12. Estimated amount of contracts remaining to be executed on Capital Accounts and not provided for(net of advance payment) Rs. Nil (Previous year Rs. Nil)

13. Deposits include National Savings Certificates and Post Office Savings Deposit pledged with:

(i) Commercial Tax Authorities Rs. 10,000/- (Previous year Rs. 10,000/-)

(ii) Mining Licensing Authorities Rs. 1,05,000/-(Previous year Rs. 1,05,000/-)

14. Based on market value of the Company''s investments as on 31.3.2014, there was no demunition in value of shares and hence no provision for the same has been made in the accounts.

15. No interest has been paid/payable by the Company during the year to the "Suppliers" covered under the micro Small and Medium Enterprises Development Act, 2006. To the extent information available with the company, none of the suppliers were covered under the provisions of Micro Small and Medium Enterprises Development Act, 2006.

16. Effective March, 2011; M/s. Central Coalfields Ltd., Ranchi, had increased the price of ''B'' Grade coal by whopping approx. 130% overnight in one stroke resulting in the aforesaid coal becoming absolutely enviable and uneconomical for the production of Sponge Iron at Company''s Sponge Iron Plant located at Jamshedpur. Accordingly, the Company had made several requests and representations, verbally and in writing to them with a request to supply Grade ''C'' coal or lower grade of coal whose price increase was only 30% but Central Coalfields Ltd. most arbitrarily and illegally refused such valid requests of the company. Being highly aggrieved by this most illegal, unjustified, arbitrary and discriminatory act; the Company had taken legal action against Central Coalfields Ltd. in the Hon''ble High Court at Ranchi and that matter is under hearing and adjudication. As the Company suffered heavy losses for non-supply of coal by Central Coalfields Ltd., despite having provided them with Bank Guarantees of Rs. 46,00,000/- and Coal advance amount of Rs. 1,14,30,107/-; it got entitled for compensation from Central Coalfields Ltd. as per Clause No. 4.5 to 4.8 of FSA dated 29.04.2008 entered with them and it accordingly raised on CCL a Compensation Bill of Rs. 99.45,450/- for Accounting Year 2011-12 and Rs. 99,45,450/- for Accounting Year 2012-13 along with an interest amount of Rs. 6,86,644/- receivable on the said compensation amount and an Interest Bill of Rs. 45,33,763/- on Company''s purchase advance amount of Rs. 1,14,30,107/- lying with them. Upon refusal by Central Coalfields Ltd. to pay the aforesaid compensation and interest amounts; the Company has filed a suit against Central Coalfields Ltd. at Hon''ble High Court at Ranchi for winding up of the former and the said suit is pending for hearing and adjudication. Since the matter is subjudice; the Company will account for the aforesaid compensation and interest amount being legitimately receivable from Central Coalfields Ltd. on actual receipt basis after the final verdict is announced by the Hon''ble High Court at Ranchi and/or Higher Courts. The company has claimed further interest on the same for the Accounting Year 2013-14 amounting to Rs. 69,88,727/- and the same shall also be accounted for on actual receipt basis.

17. In accordance with Accounting Standard 19 on ''Leases'' as notified under the Companies (Accounting Standards) Rules 2006 the following disclosures in respect of operating leases are made.

The Company has taken factory land premises at Adityapur from Adityapur Industrial Area Development Authority under operating lease on 11.03.99 for a period of 90 years.

18. The revised schedule VI to the Companies Act, 1956 has become effective for preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Accordingly, the figures for the previous year have been re-classified, wherever necessary to conform with the current year''s classification.

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Mar 31, 2013

2. Lease:

The Company has leased its RLHG/LPG Bottling Plant in the WBIIDC land located at ULUBERIA, Howrah, (W. Bengal) along with all existing building, structures and equipment, storage bullets, piping etc. situated on the same land and the plant and equipment and other immovable assets with effect from 21.3.2000. The Lease Period expired on 31.03.2013 and the process for renewal/extension of the said lease is under progress. The requirement of disclosure under AS 19 in respect of Lease is not applicable as it came into effect in respect of asset leased during accounting periods commencing on or after 1.4.2001 only.

In accordance with the requirement of Accounting Standard (AS) 22 on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the deferred tax asset of Rs. 13,42,987/- for the year has been recognized in the Profit & Loss Account for the year.

2. During the year, in terms of accounting standard AS-28 issued by the Institute of Chartered Accountants of India on ''Impairment of Assets'', the company has determined that there was no potential impairment loss in respect of its assets.

3. Contingent Liabilities:

a) Bank Guarantees issued by the Citi Bank in favour of Third Parties as follows against which the company has pledged it''s Fixed Deposits .

i) Bank Guarantee No.5568116503 dated 25.04.2008 for Rs.42,00,000/- issued in favour of Central Coalfields Ltd.

ii) Bank Guarantee No. 5569323502 dated 19.11.2009 for Rs.4,00,000/-issued in favour of Central Coalfields Ltd.

c) Compensation of Rs. 1,15,48,530/- for Company''s alleged non-lifting of coal wrongly and illegally claimed by M/s. Central Coalfields Ltd., Ranchi as Company has refused and refuted such illegal and baseless claims and the entire matter is pending with the Hon''ble High Court at Ranchi.

4. On the basis of a writ petition filed by the Company against State Government''s order withdrawing remission of Sales Tax pursuant to imposition of VAT in the State; the Hon''ble High Court of Jharkhand at Ranchi has allowed the benefit of deferment of tax for VAT and although the Hon''ble High Court order is not specific about deferment of CST, the Company assumes that deferment order is applicable to both VAT and CST in respect of its sales from its Sponge Iron plant at Jamshedpur. The company has accordingly paid the entire disputed tax liability on account of CST Rs.31,63,636 /- and of VAT Rs.33,72,410 /- till the end of the year, although this matter is pending for decision before the Hon''ble Supreme Court.

5. The balances of debtors and creditors are subject to confirmation by the parties.

6. Estimated amount of contracts remaining to be executed on Capital Accounts and not provided for(net of advance payment) Rs. Nil (Previous year Rs.8,01,925)

7. Deposits include National Savings Certificates and Post Office Savings Deposit pledged with:

(i) Commercial Tax Authorities Rs.10,000/- (Previous year Rs.10,000/-)

(ii) Mining Licensing Authorities Rs. 105,000/- (Previous year Rs.55,000/-)

8. Based pn market value of the Company''s investments as on 31.3.2013, there was ndemunition in value of shares and hence no provision for the same has been made in the accounts.

9. No interest has been paid/payable by the Company during the year to the "Suppliers" covered - under the micro Small and Medium Enterprises Development Act, 2006.

To The extent information available with the company, none of the suppliers were covered under the provisions of Micro Small and Medium Enterprises Development Act, 2006.

10. Effective March, 2011; M/s. Central Coalfields Ltd., Ranchi, had increased the price of ''B'' Grade coal by whopping approx. 130% overnight in one stroke resulting in the aforesaid coal becoming absolutely unviable and uneconomical for the production of Sponge Iron at Company''s Sponge Iron Plant located at Jamshedpur. Accordingly, the Company had made several requests and representations, verbally and in writing to them with a request to supply Grade ''C'' coal or lower grade of coal whose price increase was only 30% but Central Coalfields Ltd. most arbitrarily and illegally refused such valid requests of the company. Being highly aggrieved by this most illegal, unjustified, arbitrary and discriminatory act; the Company had taken legal action against Central Coalfields Ltd. in the Hon''ble High Court at Ranchi and that matter is under hearing and adjudication. As the Company suffered heavy losses for non-supply of coal by Central Coalfields Ltd., despite having provided them with Bank Guarantees of Rs.46,00,000/- and Coal advance amount of Rs.1,14,30,107/-; it got entitled for compensation from Central Coalfields Ltd. as per Clause Nos. 4.5 to 4.8 of FSA dated 29.04.2008 entered with them and it accordingly raised on CCL then a Compensation Bill of Rs. 99,45,450/- for accounting year 2011-12 and Rs. 99,45,450/- for accounting year 2012-13 along with an Interest amount of Rs. 6,86,644/- receivable on the said compensation amount and an Interest Bill of Rs. 45,33,763/- on Company''s purchase advance amount of Rs. 1,14,30,107/- lying with them. Upon refusal by Central Coalfields Ltd. to pay the aforesaid compensation and interest amounts; the Company has filed a suit against Central Coalfields Ltd. at Hon''ble High Court at Ranchi for winding up of the former and the said suit is pending for hearing and adjudication. Since the matter is subjudice; the Company will account for the aforesaid compensation and interest amount being legitimately receivable from Central Coalfields Ltd. on actual receipt basis after the final verdict is announced by the Hon''ble High Court at Ranchi and/or higher courts.

11. In accordance with Accounting Standard 19 on ''Leases'' as notified under the Companies (Accounting Standards) Rules 2006 the following disclosures in respect of operating leases are made.

The Company has taken factory land premises at Adityapur from Adityapur Industrial Area Development Authority under operating lease on 11.03.99 for a period of 90 years.

12. Additional Information pursuant to the provisions of Part II to Schedule VI of the Companies Act, 1956 to the extent applicable

13 The revised schedule VI to the Companies Act, 1956 has become effective for preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial state- ments. Accordingly, the figures for the previous year have been re-classified, wherever necessary to conform with the current year''s classification.

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Mar 31, 2010

1. Lease:

The Company has leased its RLHG/LPG Bottling Plant in the WBIIDC land located at ULUBERIA, Howrah, (Wr Bengal) along with all existing building, structures and equipment, storage bullets, piping etc. situated on the same land and the plant and machinery and other immovable assets with effect from 21.3.2000. The Lease Period expired on 20.03.2008 and the same was renewed / extended up to 31.03.2010. The aforesaid Lease is now of in the process of renewal for a further period of 3 years up to 31.03.2013 subject to finalization of terms & condition and both the parties agreeing to the same. The requirement of disclosure under AS 19 in respect of Lease is not applicable as it comes into effect in respect of asset leased during accounting periods commencing on or after 1.4.2001 only.

2. Deferred Tax Liability/(Asset): Income Tax

In accordance with the requirement of Accounting Standard (AS) 22 on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the deferred tax asset of Rs. 182,999/- for the year has been recognized in the Profit & Loss Account for the year.

3. During the year, in terms of accounting standard AS-28 issued by the Institute of Chartered Accountants of India on Impairment of Assets, the company has determined that there was no potential impairment loss in respect of its assets.

4. Managing Directors Remuneration for the year is Rs.1,80,0007- (Previous year Rs.1,80,000/-)

5. Contingent Liabilities:

a) Bank Guarantees issued by the Citi Bank in favour of Third Parties on behalf of the company amount to Rs. 1,11,02,997/- counter guaranteed by the company Rs. 1,11,02,997/- (previous year Rs 12,384,466/-). These Bank guaranteed are covered by charge created in favour of the Bankers by way of lien on Fixed Deposits held with the said bank.

6. The debtors and creditors balances are subject to confirmation by the parties.

7. Raw material consumption includes only consumption of indigenous raw materials.

8. C.I.F. Value of imports, and earning in foreign exchange Rs. Nil (previous year Rs. Nil)

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Mar 31, 2009

1. Lease:

The Company has leased its RLHG/LPG Bottling Plant in the WBIIDC land located at ULUBERIA, Howrah, (W. Bengal) along with all existing building, structures and equipment, storage bullets, piping etc. situated on the same land and the plant and machinery and other immovable assets with effect from 21.3.2000. The Lease Period expired on 20.03.2008 and the same was renewed / extended up to 31.03.2010. The requirement of disclosure under AS 19 in respect of Lease is not applicable as it comes into effect in respect of asset leased during accounting periods commencing on or afterl .4.2001 only.

2. Contingent Liabilities :

a) Bank Guarantees issued by the Bank in favour of Third Parties on behalf of the company Rs. 12,384,466/ - counter guaranteed by the company Rs. 12,384,466/- (previous year Rs. 73,36,000/-). These are covered by charge created in favour of the Bankers by way of lien on Fixed Deposits held with the bank.

b) Claims not acknowledged by company are relating to the following areas:

2008-09 (Rs.) 2007-08 (Rs.)

(i) Purchase Tax (VAT) on Coal Purchase(Out of which the 3,017,821 3,017,821 company has paid Rs.15,08,911/- under protest).

(ii) Income Tax (Pending before Appellate authorities in 1,579,364 1,579,364 respect of which the company is in appeal.)

c) An appeal order in respect of income tax has been passed for the assessment year 2006-07 wherein additions to the extent of Rs. 17.32 Lac has been confirmed. However, the order for appeal effect is pending for ascertainment of additional tax liability.

3. The debtors and creditors balances are subject to confirmation by the parties.

4. Raw material consumption includes only consumption of indigenous raw materials.

5. C.I.F. Value of imports and earning in foreign exchange Rs. Nil (previous year Rs. Nil)

Year Year

6. Expenditure in Foreign Currencies: 2008-09 (Rs.) 2007-08 (Rs.)

Travel Expenses 399,440/- Nil

7. Estimated amount of contracts remaining to be executed on Capital Accounts and not provided for (net of advance payment) NIL (Previous year Rs. NIL)

8. There were no dues outstanding to any Small Scale Industrial Undertaking to whom the Company owed a sum exceeding Rs.1,00,000/- and which is outstanding for more than 30 days as at 31st March, 2009.

9. Deposits include National Savings Certificates and Post Office Savings Deposit pledged with: (i) Commercial Tax Authorities Rs.10,000/- (Previous year Rs.10,000/-)

(ii) Mining Licensing Authorities Rs.5,000/- (Previous year Rs.5000/-)

10. Based on market value of the Companys investments as on 31.3.2009, there was no demunition in value of shares and hence no provision for the same has been made in the accounts.

11. Previous years figures have been re-grouped and re-classified wherever necessary to conform to current years classifications.