Notes to Accounts of Golkunda Diamonds & Jewellery Ltd.

Mar 31, 2025

Primary Securities for Secured Loans:

i) Secured by First Pari-Passu charge by way of hypothecation of current assets i.e. Raw Material, Stock in Process, Finish Goods and Receivables of the company, present and future and personal guarantees of three Directors.

ii) Extention of charge over the existing Primary & collateral securities including mortgaes created in favour of the Bank.

Collateral Securities for Secured Loans :

iii) Secured by First Charge by way of Equitable Mortgage of factory/office premises at Chakala and Bandra, Mumbai and personal guarantees of three Directors.

iv) Secured by First Charge by way of lien on Cash Collateral i.e. Fixed Deposit Receipts with Bank.

Repayment:

v) Repayment GECL loan - Moratoriam Period 12 Months. 36 installments after the Moratoriam period. Interest to be serviced as and when applied.

HDFC Bank Ltd / Bank of India

i) Securities for Term Loan :- Secured by hypothecation of Vehicle

ii) Terms of repayment :- Monthly EMI

iii) There are no defaults in repayment of loan and interest thereon as on March 31,2025 for the loan under this head.

i) Secured by First Pari-Passu charge by way of hypothecation of current assets i.e. Raw Material, Stock in Process, Finish Goods and Receivables of the company, present and future and personal guarantees of three Directors.

ii) Extention of charge over the existing Primary & collateral securities including mortgaes created in favour of the Bank.

Collateral Securities for Secured Loans :

iii) Secured by First Charge by way of Equitable Mortgage of factory/office premises at Chakala and Bandra, Mumbai and personal guarantees of three Directors.

iv) Secured by first charge by way of hypothication of entire current assets of the company, present and future.

v) Secured by first charge by way of hypothication of plant and machinery of the company situated at SEEPZ factory premises.

vi) Secured by First Charge by way of lien on Cash Collateral i.e. Fixed Deposit Receipts with Bank.

Repayment:

vii) EPC/ PCFC limit - Liquidated within 180 days from the date of availment from out of proceeds of export bills and thereafter it will be penal/normal rate of interest ab-initio.

viii) PSC/ EBLR limit - Liquidated within 180 days from the date of availment from out of proceeds of export bills and thereafter penal/normal rate of interest ab-initio.

ix) Repayment GECL loan - Moratoriam Period 12 Months. 36 installments after the Moratoriam period. Interest to be serviced as and when applied.

Note : 28 - Contingent Liabilities and commitment to the extent not provided for :1) Contingent Liabilities :

The Company records a liability for any claims where a potential loss is probable and capable of being estimated and discloses such matters in its financial statements, if material. For potential losses that are considered possible, but not probable, the Company provides disclosure in the financial statements but does not record a liability in its accounts unless the loss becomes probable.

Note : 33 - Corporate Social Responsibility (CSR):

The Company has spent the required amount in terms of provisions of section 135 of the companies,Act 2013 on Corporate Social Responsibility. During the year the company has spent an amount towards the above mentioned activities as under:

a. Gross amount required to be spent by the company during the year Rs. 23,89,261/-(Previous Year Rs. 17,87,327/-).

b. Amount spent during the year by the company Rs. 24,17,000/- (Previous Year Rs. 11,61,000/-)

Indirect Expended through donation in Shrimad Rajchadra Jivadaya Trust Rs. 20,00,000/- & Shrimad Rajchandra Educational Trust Rs 417000/-_

i) The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant.

ii) The sensitivity analysis presented above may not be representative of the actual change in the projected benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

iii) Fufthermore, in presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected benefit obligation as recognised in the balance sheet.

iv) There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

Note : 37 -_

Lease Payments The Company is receving / paying the rent as per the agreement for lease executed with the lessee / lessor. The rent is fixed from the date of execution of lease agreements. The Company has not adopted Ind AS 116 ‘''Lease” during the year 2024-25 and is still in the process of evaluating the impact of adoption of the same on its financial statements.

Note : 38_

Balances in respect of Unsecured Loans, Loans & Advances, Sundry Debtors & Sundry Creditors are subject to confirmation by respective parties.

Note : 39_

Vehicles, shown in Note 2 -Property, Plant & Equipment, are in the personal names of Directors of the Company.

Note : 40_

The Company has written a letter dated 17th May,2025 for a certificate as to the Company being regular in repayment of the sanctioned loans, during the financial year 2024-25, as per the terms & conditions set out vide sanctioned letters dated 07.10.2024 and requested the reply should reach the office of Statutory Auditors of the Company. The Bank, vide its letter dated 17th May, 2025 stated that the conduct of Credit Facilities is satisfactory.

Note : 42- Other Statutory Informations:

(a) No proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.

(b) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

(c) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(d) There were no transactions relating to previously unrecorded income that have been surrendered and disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

(e) The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(i) directly or indirectly lend to or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(f) The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

(i) directly or indirectly lend to or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

Note : 43

Previous year''s figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.

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Mar 31, 2024

Guaranteed Emergency Credit Line (GECL)

Primary Securities for Secured Loans:

i) Secured by First Pari-Passu charge by way of hypothecation of current assets i.e. Raw Material, Stock in Process, Finish Goods and Receivables of the company, present and future and personal guarantees of three Directors.

ii) Extention of charge over the existing Primary & collateral securities including mortgaes created in favour of the Bank.

Collateral Securities for Secured Loans :

iii) Secured by First Charge by way of Equitable Mortgage of factory/office premises at Chakala and Bandra, Mumbai and personal guarantees

of three Directors.

iv) Secured by First Charge by way of lien on Cash Collateral i.e. Fixed Deposit Receipts with Bank.

Repayment:

v) Repayment GECL loan - Moratoriam Period 12 Months. 36 installments after the Moratoriam period. Interest to be serviced as and when applied.

HDFC Bank Ltd

i) Securities for Term Loan:

Secured by hypothecation of Vehicle

ii) Terms of repayment :

Monthly EMI

iii) There are no defaults in repayment of loan and interest thereon as on March 31,2024 for the loan under this head.

Primary Securities for Secured Loans:

i) Secured by First Pari-Passu charge by way of hypothecation of current assets i.e. Raw Material, Stock in Process, Finish Goods and Receivables of the company, present and future and personal guarantees of three Directors.

ii) Extention of charge over the existing Primary & collateral securities including mortgaes created in favour of the Bank.

Collateral Securities for Secured Loans :

iii) Secured by First Charge by way of Equitable Mortgage of factory/office premises at Chakala and Bandra, Mumbai and personal guarantees

of three Directors.

iv) Secured by first charge by way of hypothication of entire current assets of the company, present and future.

v) Secured by first charge by way of hypothication of plant and machinery of the company situated at SEEPZ factory premises.

vi) Secured by First Charge by way of lien on Cash Collateral i.e. Fixed Deposit Receipts with Bank.

Repayment:

vii) EPC/ PCFC limit - Liquidated within 180 days from the date of availment from out of proceeds of export bills and thereafter it will be penal/normal rate of interest ab-initio.

viii) PSC/ EBLR limit - Liquidated within 180 days from the date of availment from out of proceeds of export bills and thereafter penal/normal rate of interest ab-initio.

ix) Repayment GECL loan - Moratoriam Period 12 Months. 36 installments after the Moratoriam period. Interest to be serviced as and when applied.

i) This disclosure is based on the document / information available to the company regarding their status of the small scale undertaking and half yearly MSME Form -1 filed, for the period ended September 2023, with Registrar of Companies.

ii) The above information has been compiled in respect of parties to the extent to which they could be identified as Micro, Small and Medium Enterprises on the basis of information available with the Company.

iii) DUES TO MICRO AND SMALL ENTERPRISES

The Company has certain dues to suppliers registered under Micro, Small and Medium Enterprises Development Act, 2006 (‘MSMED Act'').

Disclosure of payable to vendors as defined under the “Micro, Small and Medium Enterprise Development Act, 2006” is based on the information available with the Company regarding the status of registration of such vendors under the said Act, as per the intimation received from them on requests made by the Company. In case of overdue principal amount, no interest payable for delayed payments to such vendors at the Balance Sheet date.

Note : 26 - Contingent Liabilities and commitment to the extent not provided for :1) Contingent Liabilities :

The Company records a liability for any claims where a potential loss is probable and capable of being estimated and discloses such matters in its financial statements, if material. For potential losses that are considered possible, but not probable, the Company provides disclosure in the financial statements but does not record a liability in its accounts unless the loss becomes probable.

Particular	As at March 31, 2024	As at March 31, 2023
Note : 27 - Value of Imports calculated on CIF basis :
Raw Materials	1,731.22	2,080.00
Studded Jewellery	1,708.94	3,228.07
Raw Material Sample Jewellery	-	10.72
Total	3,440.16	5,318.79

Note : 31 - Corporate Social Responsibility (CSR):

The Company has spent the required amount in terms of provisions of section 135 of the companies,Act 2013 on Corporate Social Responsibility. During the year the company has spent an amount towards the above mentioned activities as under:

a. Gross amount required to be spent by the company during the year Rs. 17,87,327/-(Previous Year Rs. 11,61,000/-).

b. Amount spent during the year by the company Rs. 18,00,000/- (Previous Year Rs. 11,61,000/-)

Indirect Expended through donation in Shrimad Rajchadra Jivadaya Trust Rs. 18,00,000/-

i) The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant.

ii) The sensitivity analysis presented above may not be representative of the actual change in the projected benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

iii) Fufthermore, in presenting the above sensitivity analysis, the present value of the projected benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected benefit obligation as recognised in the balance sheet.

iv) There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

Note : 35 - Lease Payments

The Company is receving / paying the rent as per the agreement for lease executed with the lessee / lessor. The rent is fixed from the date of execution of lease agreements. The Company has not adopted Ind AS 116 ‘''Lease” during the year 2023-24 and is still in the process of evaluating the impact of adoption of the same on its financial statements.

Note : 36_

Balances in respect of Unsecured Loans, Loans & Advances, Sundry Debtors & Sundry Creditors are subject to confirmation by respective parties.

Note : 37_

Vehicles, shown in Note 2 -Property, Plant & Equipment, are in the personal names of Directors of the Company.

Note : 38_

The Company has written a letter dated 23rd April,2024 for a certificate as to the Company being regular in repayment of the sanctioned loans, during the financial year 2023-24, as per the terms & conditions set out vide sanctioned letters dated 04.12.2023 and requested the reply should reach the office of Statutory Auditors of the Company. The Bank, vide its letter dated 18th May, 2024 stated that the conduct of Credit Facilities is satisfactory.

Note : 39

Previous year''s figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.

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Mar 31, 2015

Note : 1 - Distribution of Proposed Dividend :

The Board of Directors, in its meeting held on 28th May,2015 recommended the final dividend of Rs.0.50 per equity share. If the same is approved by the share holders in the annual general meeting, there will be an appropriation of Rs. 41,90,901/- from surplus out of which Rs. 34,82,040/- as proposed dividend and Rs. 7,08,861/- as net corporate dividend tax.

Note : 2

Balances in respect of Unsecured Loans, Loans & Advances, Sundry Debtors & Sundry Creditors are subject to confirmation by respective parties.

Note : 3

Previous year's figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.

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Mar 31, 2014

Note : 1 - Contingent Liabilities and commitment to the extent not provided for : 2014 2013

i) Contingent Liabilities :

a In respect of guarantees given by Banks and / or counter guarantees Uncertainable Uncertainable given by the Company b Other money for which the company is contingent liable :

In respect of Income Tax matters pending before the Income Tax Officer 955,291 955,291 which the Company expects to be deleted.

Note : 2

Balances in respect of Unsecured Loans, Loans & Advances, Sundry Debtors & Sundry Creditors are subject to confirmation by respective parties.

Note : 3

Previous year''s figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.

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Mar 31, 2013

Note : 1

Balances in respect of Unsecured Loans, Loans & Advances, Sundry Debtors & Sundry Creditors are subject to confirmation by respective parties.

Note : 2

Previous year''s figures have been regrouped / rearranged wherever necessary to confirm to the current year grouping.

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Mar 31, 2012

I) The equity share holders of the Company are entitled to receive final dividend as declared and approved by the Board of Directors and/ or the share holders of the Company. The dividend so declared will be in proportion to the number of equity shares held by the share holders.

ii) In the event of the liquidation of the Company, equity share holders will be entitled to receive remaining assets of the company after distribution of all preference share holders. However, no such Preference share capital exist during the year. The distribution will in proportion to the number of equity shares held by the share holders.

Securities for Loans :

A Secured by hypothecation of receivables, equitable mortgage of office premises and personal guarantee of three Directors of the Company.

B Secured by hypothecation of raw materials, material in process, finished goods, equitable mortgage of office of office premises & personal guarantee of three Directors of the Company.

C There are no continuous defaults in repayment of loan and interest thereon as on March 31,2012 for all the loans under this head.

Note : 1 - Contingent Liabilities and commitment to the extent not provided for :

j) Contingent Liabilities : 2012 2011

a In respect of guarantees given by Banks and / or counter Uncertainable Uncertainable guarantees given by the Company

b Other money for which the company is contingent liable :

In respect of Income Tax matters pending before the 955,291 955,291

Income Tax officer which the Company expects to be deleted.

Note : 2 - Deferred Tax :

A The Net Deferred Tax Liability of 46,962/- [ Previous Year: 2,77,533/-] for the year has been credited in the Profit and Loss Account.

B Break up of Deferred Tax Liabilities and Assets into major components of the respective balances are as under:

Note: 3

Balances in respect of Unsecured Loans, Sundry Debtors & Sundry Creditors are subject to confirmation by respective parties.

Note: 4

The revised Schedule VI as notified under the Companies Act, 1956, has become applicable to the Company for presentation of its financial statements for the year ending March 31,2012. The adoption Of the revised Schedule VI requirements has significantly modified the presentation and disclosures which have been complied with in these financial statements. Previous year's figures have been reclassified in accordance with current year requirements.

Note: 5

Previous year's figures have been regrouped t rearranged wherever necessary to confirm to the current year grouping

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Mar 31, 2010

1. Contingent Liabilities:

Bank guarantee of Rs. 60007-

Income Tax Liability for A. Y 2007-08 of Rs.8,83,181/-

2. Balances in respect of Sundry Creditors, Sundry Debtors and Loans & Advances are subject to confirmation from the respective parties.

3. Sundry balances written off/back in Schedule K includes sundry debtors of Rs NIL (previous year Rs. 7,30,111/-) Written off being considered as bad and doubtful in the previous year.

4. Factory Premises in Schedule D of Fixed Assets includes Rs.520/- towards cost of shares in a Co-operative Society.

5. Related Party disclosures

Related parties disclosure in respect of Material Transaction are given below.:-

6. Segment Reporting:

The Company is engaged in manufacturing & Sale of Studded Gold Jewellery, which is the only reportable Segment.

7. Previous years figures have been regrouped/rearranged wherever necessary.

8. Additional Information as required under Part IV of Schedule VI to the Companies Act, 1956.