Notes to Accounts of Kabra Commercial Ltd.

Mar 31, 2024

(I) Pwblons, Contingent liabilities and contingent assets:

Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an
outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are measured at the present
value of management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting period.

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but probably will not,
require an outflow of resources, or a present obligation whose amount cannot be estimated reliably.

All known Liabilities, wherever materiel, are provided for and Liabil ities, which are disputed, are referred to by way or Notes on Accounts.

(t) Cash and rash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at cal! with
financial institutions, other short-term, highly liquid investments with original maturities of twelve months or less that are readily convertible
to known amounts of cash and which are subject to an insignificant risk of changes in value.

(h) Earnings Per Share:

Basic earnings per share is calculated by dividing ihe net profit for the year attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period. The weighted average number or equity shares outstanding during the period is
adjusted for events of bonus issue; bonus element in a rights issue to existing shareholders; share split; and reverse share split (consolidation
of shares).

(I) Financial Instruments:

Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of Ihe instruments. All the
financial assets and liabilities arc measured initially at lair value. Transaction costs that are directly attributable to the acquisition or issue of
financial asset and financial liabilities (other than financial assets and liabilities carried at fair value through profit or loss) are added or
deducted from the fair value measured on initial recognition of financial asset or financial liability

(jXi) Classification and Measurement

(i) Recognition; Financial assets include Investments, Trade Receivables, Advances, Security Deposits, Cash and Cash equivalents Such
assets are initially recognised at transaction price when the Company becomes parry in contractual obligations. The transaction price includes
transaction costs unless the asset is being fair valued through the Statement of Profit and Loss

Subsequent measurement of a financial assets depends on its classification i.e , financial assets carried at amortised cost or lair value (either
through other comprehensive income or through profit or loss). Such classification is determined on the basis of Company''s business model
for managing the financial assets and the contractual terms of the cash flows.

The Company''s financial assets primarily consists of cash and cash equivalents, trade receivables, loans to employees and security deposits
etc. which are classified as financial assets carried at amortised cost.

tn respect of investments in equity instruments that would otherwise be measured at fair value through profit or loss, an irrevocable election at
initial recognition may be made to present subsequent changes in fair value through other comprehensive income.

(ii) A mortised cost

Assets (hat are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest arc
measured at amortised cost A gain or loss on a financial assets that is subsequently measured at amortised cost is recognised in profit or loss
when the asset is derecognised or impaired Interest income from these financial assets is recognised using the effective interest rate method

(iii) Impainnent of financial assets

The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost For trade
receivables, the Company provides for lifetime expected credit losses recognised from initial recognition orthe receivables.

(iv) Derecognition of financial assets

A financial asset is derecognised only when Ihe Company has transferred the rights to receive cash flows from the financial asset or retains the
contractual rights 10 receive ihe cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more
recipients.

(k) Cash flow statement

Cash flows are reported using the indirect method, whereby profit/ loss before tax is adjusted for ihe effects or transactions or a non-cash
nature, any deferrals or accruals or 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.

(l) Borrowing Costs

Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds including interest expense
calculated using the effective interest method Borrowing costs directly attributable to the acquisition, construction or production of qualifying
assets, which arc assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the COSt of
those assets, until such time as the assets are substantially ready Tor their intended use or sale. Other income earned on the temporary
investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for
capitalisation. Interest expense includes origination costs that are initially recognised as pan of the carrying value of the financial liability and
amortized over the expected lift using the EIR. It also include expenses related in borrowing which are not part of effective interest as not
directly related to loan origination

(m) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker.

Revenue and expenses art identified to segments on the basis of their relationship to the operating activities or the segment Revenue,
expenses, assets and liabilities which are not allocable to segments on a reasonable basis, are included under ‘"Unallocated revenue/ expenses/
assets/ liabilities".

(n) Financial Liabilities

The Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities at fair value through
profit or loss Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value.

(o) Significant accounting judgements, estimates and assumptions

The preparation of financial statements in conformity with the Ind AS requires the management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the accompanying disclosure and the disclosure
of contingent liabilities, at the end of the reporting period. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions
to accounting estimates are recognised in the period in which the estimates are revised and future periods are affected. Although these
estimates are based on (he management''s best knowledge of current events and actions, uncertainty about ihwc assumptions and estimates
could result in the outcomes requiring a material adjustment to the canying amounts of assets or liabilities in future periods.

In particular, information about significant areas of estimation, uncertainty and critical judgements in applying accounting policies that have
the most significant effect on the amounts recognised in the financial statements is included in the notes

(iii) Rilloj

Details of Ratios is given as attachment in Annexurc -1

The Company has not received any intimation from its suppliers regarding their status under The Micro, Small and Medium Enterprise
Development Act, 2006, hence no disclosure required under the said Act can be made.

(v) Previous year''s figures have been regrouped and rearranged wherever Pound necessary

(vi) The additional regulatory information has been attached as Annexure - 11

(vii) No provision for impairement loss has been made in respect of Sundry Debtors amounting to Rs 3.11,27,385/- which is outstanding for
more than 3 years and under sub''judice. Management considers the same fully recoverable as the judgement would be in favour of the
company as per legal opinion sought

---

Mar 31, 2015

1) SHARE CAPITAL

(a) Rights, preference and restrictions attached to shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each Shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

(b) No shares have been allotted or has been bought back by the Company during the period of 5 years proceeding the date as at which the Balance Sheet is prepared.

2. OTHER NOTES ON ACCOUNT

(i) Contingent liability not provided in respect of Inland Letter of Credit amounting to Rs. 58,500,000/ - issued by Canara Bank in favour of Shree Cement Ltd.

(ii) During the year the Company has changed the method of representation of "Working Capital Secured Loan" amounting to Rs. 58,500,000/- from Canara Bank" which was shown under the head "Short Term Borrowing" upto last year now shown to "TRADE PAYABLES" during the year. Such change in representation does not have any effect in the Profit & Loss Account of the Company.

(iii) The Company is ceased to be a Non-banking Financial Company as Reserve Bank of India vide letter dated 21.11.2014 cancelled the Certificate of Registration. Accordingly the Statutory Reserve created as NBFC has been transferred to Profit and Loss Account.

(iv) No provision has been made in these accounts in respect of Sundry Debtors amounting to Rs. 26,622,251/- outstanding from earlier year as in the opinion of the management, the matter is sub-juice.

(v) No provision has been made in these accounts in respect of Gratuity Liability of Rs.115,385/- (P.Y. 103,846/-) payable to employees who is entitled for such payment as the company intends to account for the same in the year of payment.

(vi) Fixed Deposit Certificates are not available for auditor's verification as the same are pledged to Canara Bank against the overdraft facility and Inland / Foreign letter of credit facility taken from the said Bank.

(vii) In the opinion of the Board of Directors the Current Assets, Loans and Advances are approxi- mately of the value stated in accounts, if realised in ordinary course of business, unless oth- erwise stated. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

(viii) The Company has no amounts due to suppliers under the Micro, small and Medium Enter- prises Development Act,2006 (MSMED) as at 31.03.2015.

(ix) There is no disputed statutory liability which is due.

(x)Notes on Segment Reporting

The Company's primary segment is its Business Segment which consists of Coal Trading and Commission/ Service charges and Finance & Investment. Since entire business is conducted within India there are no separate geographical segments.

(xi) Related Party Information in accordance with AS -18 :

(i) Associates

Kabra Steel Products Ltd. Rajesh Manish Associates Pvt. Ltd.

Coal Sale Co. Ltd. Coal Sale Co.

Jagdamba Coal House Mrs. Anushka Kabra

(ii) Key Managerial Personnel

Sri Rajesh Kumar Kabra Sri Ramawtar Kabra

(xii) Figures of the previous year's have been recasted rearranged and reclassified wherever found necessary.

---

Mar 31, 2014

1.Rights, preference and restrictions attached to shares

The company has only one class of equity shares having a par value ol Rs. 10 per share. Each Shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend, in the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding,

2. No provision hua been made in 1hesa accounts In respect erf Sundry Debtors amounting to Rs. 3.66.23.25lAouMBnbhg from earner year as In foe opinion of in6 management. the matter is sub-judice

3. No provision has boon made in these account in respect of Gratuity Liability ol Rs,iD3646/'(P.Y 152280/-) payable to employees who is entitled for such payment as the company in- to account for the same in the year of payment.

4. Fixed Deposit Certifcates are not available for auditors verification as the same are pledged to Canara Rank against the overdraft Facility and inland/ t Foreign letter of credit facility taken from the said Bank,

5. In the opinion of the Board of Directors the Current Assets, Loans and Advances ere ment of the Value Slated in accounts, if realised in ordinary course of business, unless oth-erwise stated. The provisions for all known liabililies are adequate and not in excess of the amount reasonably necessary.

6. The Company has no amounts due to suppliers under the Micro, small and Medium Enter- prises DtivalOpmahl ACt, 2006 (MSMFD) as at 31.03.2014.

7. there is no disputed statutory liability which is due.

8. Notes on Segment Reporting

The Company's primary segment is its Business Segment which consists of Coal Trading and Commission/ Service charges and Finance & Investment. Since entire business is conducted within India thers are no separate geographical segments.

9. Related Patty Information in accordance with AS -18 :

(i) Associates

Kabra Steel Products Ltd. Rajesh Manish Associates Pvt. Ltd. Coal Sale Co. Ltd. Coal Sale Co. Jagdamba Coal House Kabra Brothers

(ii) Key Managerial Personnel

Sri Rajesh Kumar Kabra Sri Ramawtar Kabra

10.figures of the previous year's have been repeated rearranged and reclassified wherever found necessary.`

---

Mar 31, 2013

1. Rights, preference and restrictions attached to shares

The company has only one class of equity shares having a par value of As. 10 per share. Each Shareholder is eligible for one vote par share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of Interim dividend, In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding,

2. (i) There is no disputed statutory liability which is due.

(ii) The Company do not have any contingent Liability / Assets.

(iii) The GCunpany has no amount due 1d suppTeti under Hie Micro, small and Medium EnieiJ<oS Development AcE 2006 fMSMED] as fl1 51.03-2013-

(iv) In the opinion of the Board of Directors the Current Assets, Loans end Advances art- approximately of [lie value Staled in acccount raised in ordinary flOurSe to business. unless of .hfriwiM stated The provisions the all 'known liabilities are adequate and not 'n excess me FunnuM laaMmably necessary.

(V) Fixed Deposit CerlKFcales are no; available for accounts verification as the same also pledged 10 Canara Bank against the overdraft facility and inland Foreign loiter of credit idenity taken horn me said Bank

(vi) No provision has been made in these accounts in respect or Gratutiy Liability of Rs. i5z2slV-(p.y 160260/-) payable 10 employees who is entitled to# such payment as to company intends to account tor the same in the year of payment.

---

Mar 31, 2011

1. There is no disputed statutory liability which is due

2. The Company do not have any contingent Liability / Assets.

3. The Company has no amounts due to suppliers under the Micro, small and Medium Enterprises Development Act 2006 (MSMFD) as at 31. 03.2011

4. In the opinion of the Board of Directors the Current Assets, Loans and Advances are approximately of the value stated in accounts, if realised m ordinary course of business, unless otherwise stated The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary

5. Fixed Deposit Certificates are not available for auditor's verification as the same are pledged to canara Bank against the overdraft facility taken from the said Bark

6. Figures of the previous year have been regrouped neerrauged and recasted whereever found necessary

7. No provision has been made in these accounts in respect of Gratuity Liability of Rs 145440/-(P.Y. 139557/-) payable to employees who is entitled tor such payment as the company intends to account for the same in the year of payment

8. Figures have been rounded off to the nearest rupee

9. Information pursuant to Part IV of Schedule VI of the Companies Act. 1956 in respect of Balance Sheet abstract and Company's General Business Profile is annexed herewith