Notes to Accounts of Kachchh Minerals Ltd.

Mar 31, 2024

4.10 Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for
example, under an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is
virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognized as a finance cost.

4.11 Financial instruments

Financial assets

Financial assets are recognised when the Company becomes a party to the contractual provisions of the instrument.

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are recognised at fair value
through profit and loss (FVTPL), its transaction cost are recognised in the statement of profit and loss. In other cases, the
transaction cost are attributed to the acquisition value of the financial asset.

Financial assets are subsequently classified and measured at amortised cost: Financial assets that are held within a business
model whose objective is to hold financial assets in order to collect contractual cash flows that are solely payments of principal and
interest, are subsequently measured at amortised cost using the effective interest rate (''EIR'') method less impairment, if any. The
amortisation of EIR and loss arising from impairment, if any is recognised in the Statement of Profit and Loss.

fair value through profit and loss (FVTPL): A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL.
Such financial assets are measured at fair value with all changes in fair value, including interest income and dividend income if
any, recognised as ''other income'' in the Statement of Profit and Loss.

fair value through other comprehensive income (FVOCI): Financial assets that are held within a business model whose objective is
achieved by both, selling financial assets and collecting contractual cash flows that are solely payments of principal and interest, are
subsequently measured at fair value through other comprehensive income. Fair value movements are recognized in the other
comprehensive income (OCI). Interest income measured using the EIR method and impairment losses, if any are recognised in the
Statement of Profit and Loss. On derecognition, cumulative gain or loss previously recognised in OCI is reclassified from the equity
to ''other income'' in the Statement of Profit and Loss.

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company changes its business
model for managing financial assets.

Loans:

Loans are initially recognised at fair value. Subsequently, these assets are held at amortised cost, using the effective interest rate
(EIR) method net of any expected credit losses. The EIR is the rate that discounts estimated future cash income through the
expected life of financial instrument.

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it
transfers the contractual rights to receive the cash flows from the asset.

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than financials assets in FVTPL
category.

For financial assets other than trade receivables, as per Ind AS 109, the Company recognises 12 month expected credit losses for
all originated or acquired financial assets if at the reporting date the credit risk of the financial asset has not increased significantly
since its initial recognition. The expected credit losses are measured as lifetime expected credit losses if the credit risk on financial
asset increases significantly since its initial recognition. The Companys trade receivables do not contain significant financing
component and loss allowance on trade receivables is measured at an amount equal to life time expected losses i.e. expected cash
shortfall.

The impairment losses and reversals are recognised in Statement of Profit and Loss.

Financial Liabilities:

Initial recognition and measurement

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial
liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value through profit
and loss. In case of trade payables, they are initially recognised at fair value and subsequently, these liabilities are held at amortised
cost, using the effective interest method.

Subsequent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair value
through profit or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and Loss.
Derecognition

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

4.12 Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits which are subject to
an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above, as they are considered an integral part of the Company''s cash management.

4.13 Earnings per share

Basic earnings per share is computed by dividing the net profit for the period attributable to the equity shareholders of the Company
by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion
of potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in
resources.

For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

4.14 Regarding non-ascertainment as well as non-provision of retirement benefits such as gratuity and leave encashment as
required by Indian accounting standard (ind AS 19) issued by the Institute of Chartered Accountants of India

4.15 Regarding non-ascertainment of impaired assets as required by Indian accounting standard (Ind AS 36) issued by the
Institute of Chartered Accountants of India

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor
risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities.

The Management has overall responsibility for the establishment and oversight of the Company’s risk management framework.

In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and Market risk.

Carrying amount of financial assets and liabilities:

For the purpose of the Company''s capital management,capital includes issued equity capital, convertible preference shares, share premium and all other equity reserves
attributable to the equity holders of the parent. The primary objective of the Company''s capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments inlight of changes in economic conditions and the requirements of the financial covenants. To maintain
or adjust the capital structure, the Company may adjust the dividend payment to share holders, return capital to share holders or issue new shares. The Company monitors
capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company''s policy is to keep optimum gearing ratio.The Company includes with in net
debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents, excluding discontinued operations.

(35. A) Related party relationships and transactions

Ind AS 24 defines a related party as a person or entity that is related to the reporting entity and it includes (a) a person or a close member of that person''s family if that
person: (i) has control or joint control over the reporting entity; (ii) has significant influence over the reporting entity; or (iii) is a member of the key management personnel of
the reporting entity or of a parent of the reporting entity. (b) An entity is related to the reporting entity if any of the following conditions apply; (i) The entity and the reporting
entity are members of the same group. (ii) One entity is an associate or joint venture of the other entity.(iii) Both entities are joint ventures of the same third party. (iv) One
entity is a joint venture of a third entity and the other entity is an associate of the third entity. (v) The entity is a post-employment benefit plan for the benefit of employees of
either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting
entity.(vi) The entity is controlled or jointly controlled by a person identified in (a).(vii) A person identified in (a) (i) has significant influence over the entity or is a member of
the key management personnel of the entity (or of a parent of the entity).

The accompanying notes are an integral part of financial statements
As per our report of even date attached

^FOR °M Prakash ^S. ^Cha^p|ot & ^Co. For and on behalf of the Board of Directors of

bartered ^Accountants KACHCHH MINERALS LIMITED

FRN 000127C

MEENU CHAPLOT Devising Hathal Daksh Trivedi

Partner Director Director

M NO 404443 DIN: 09046307 DIN: 05232654

UDIN : 24404443BKCAS N3038

Date : 29.05.2024 Date : 29.05.2024 Date : 29.05.2024

Place: Mumbai Place: Jamnagar Place: Jamnagar

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Mar 31, 2014

1. Other Notes:

(i) PROVISIONS. CONTINGENT LIABILITIES & CONTINGENT ASSETS f AS-291:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events & it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

CONTINGENT LIABILITIES: 31.03.2014 31.03.2013 Claim against the Company not (Rs) (Rs)

acknowledged as debts nor provided for;

Contingent Liabilities not provided for in 2,80,90,656 /- 2,80,90,656/-

respect of Royalty charges & interest raised by Collector of Bhuj-kutch,

Gujarat State which is disputed by the company.

(ii) RELATED PARTY DISCLOSURE (AS INDENTIFIED BY THE MANAGEMENT!: i) Related Party relationship

a) Where control exists :

b) Director / Key Management Personnel:

MR. P. G. DAVDA DIRECTOR

MR. KISHORE G. DAVDA DIRECTOR

MR. D. S. MADHAVANI DIRECTOR

c) RELATIVES OF KEY MANAGEMENT PERSONNEL & DIRECTOR

Smt. N. D. Madhavani Wife of Director D.S. Madhavani.

Rupal K Ashani Daughter of Director Pratap G. Davda.

(iii) The balance of debtors, creditors, deposit transactions and loans and advances as appears in Books & Financial statements, are subject to confirmation from parties

(v) The Company has no whole time Company Secretary within the meaning of section 383 A of the Companies Act, 1956.

(vi) In the opinion of the Board of Directors the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which items are stated in the Balance sheet.

(vii) The Company has neither provided nor ascertained the amount of retirement benefits such as Gratuity and Leave Encashment etc., as required by Accounting Standard (AS-15) issued by the Institute of Chartered Accountants of India.

(viii) Payment of remuneration to whole time directors includes Rs. 24,00,000/- to Mr Prataprai G. Davda and Rs. 12,00,000/- to Mr Kishore G. Davda.

(ix) The Company has not ascertained or made provisions for which assets are to be treated as impaired as per AS 28.

2. In the absence of intimation from the vendors with regard to their registration (filing of memorandum) under "The Micro, Small & Medium Enterprise Development Act, 2006 (27 of 2006)" Hence no disclosures have been made in this regard.

3. Figure of the previous year have been re-grouped / rearranged / reclassified wherever necessary.

(xii) In view of copy of letter dated 07-01-2014 addressed to Forest Protection officer received by Company from Geology, Science & Mining Department on subject of closing of Mining Activities which are fully within 1 k.m of National Park /Animal Protection area (Abhayaranya).

In view of above the company mining activities has been suspended on lease hold land for time being with effect from 07-01-2014.

In case if the company is not able to start the Mining Activities on such lease hold land, concept of going concern is affected.

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Mar 31, 2013

(i) PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS (AS-29) :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events & it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

(ii) RELATED PARTY DISCLOSURE (AS INDENTIFIED BY THE MANAGEMENT):

i) Related Party relationship

a) Where control exists :

b) Director / Key Management Personnel:

MR. P. G. DAVDA DIRECTOR

MR. KISHORE G. DAVDA DIRECTOR

MR. D. S. MADHAVANI DIRECTOR

c) RELATIVES OF KEY MANAGEMENT PERSONNEL & DIRECTOR Smt. N. D. Madhavani Wife of Director D.S. Madhavani. Pratap G. Davda (HUF) Karta of the HUF is the Director. Jasumati K Davda Wife of Director Kishore G. Davda. Rupal K Ashani Daughter of Director Pratap G. Davda.

(iii) The Company has no whole time Company Secretary within the meaning of section 383 A of the Companies Act, 1956.

(iv) In the opinion of the Board of Directors the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which items are stated in the Balance sheet.

(v) The Company has neither provided nor ascertained the amount of retirement benefits such as Gratuity and Leave Encashment etc., as required by Accounting Standard (AS–15) issued by the Institute of Chartered Accountants of India.

(vi) PPayment of remuneration to whole time directors includes Rs. 24,00,000/- to Mr. Prataprai G. Davda and Rs. 12,00,000/- to Mr. Kishore G. Davda.

(vii) The Company has not ascertained or made provisions for which assets are to be treated as impaired as per AS 28.

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Mar 31, 2012

(i) PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT ASSETS (AS-29) :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events & it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

CONTINGENT LIABILITIES: 31.03.2012 31.03.2011 Claim against the Company not (Rs) (Rs)

acknowledged as debts nor provided for:

Contingent Liabilities not provided for in 2,80,90,656/- 2,80,90,656/-

respect of Royalty charges & interest raised by Collector of Bhuj-kutch,

Gujarat State which is disputed by the company.

* Managerai Remunaration paid to Mr Pratap Davda Rs. 12,00,000/- and Mr Kishore Davda Rs. 6,00,000/

# Interest paid to Ms. Rupal Ashani Rs.7650/- and Ms. Jasumati Davda Rs.750/- ** Rent paid to Ms. N. D. Madhavani Rs. 1,20,000/-

(ii) The balance of debtors, creditors, deposit and loans and advances, are subject to confirmation from parties.

(iii) The Company has no whole time Company Secretary within the meaning of section 383 A of the Companies Act, 1956.

(iv) In the opinion of the Board of Directors the current assets, loans and advances have a value on realization In the ordinary course of business at least equal to the amount at which items are stated in the Balance sheet.

(v) The Company has neither provided nor ascertained the amount of retirement benefits such as Gratuity and Leave Encashment etc., as required by Accounting Standard (AS-15) issued by the Institute of Chartered Accountants of India.

(vi) Payment of remuneration to whole time directors includes Rs. 12,00,000/- to Mr Prataprai G. Davda and Rs. 6,00,000/- to Mr Kishore G. Davda.

(vii) The Company has not ascertained or made provisions for which assets are to be treated as impaired as per AS 28.

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Mar 31, 2011

1 The financial statements have been prepared on assumption that the company is a going concern.

2. PROVISIONS, CONTINGENT LIABILITIES & CONTINGENT A SSETS (AS-29) :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events & it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

CONTINGENT LIABILITIES:

Claim against the Company not acknowledged as debts nor provided for:

Contingent Liabilities raised on 27.04.2011 not provided for in respect 30,644,352 of Mining lease, Royalty charges & additional charges raised by Collector of Bhuj-kutch, Gujarat State

The liability has been disputed by the Company before concerned authority i.e. Collector of Bhujkutch, Gujarat State

RELATED PARTY DISCLOSURE (AS INDENTIFIED BY THE MANAGEMENT):

i) Related Party relationship

a) Where control exists :

b) Director / Key Management Personnel:

MR. P. G. DAVDA DIRECTOR

MR. KISHORE G. DAVDA DIRECTOR

MR. D.S. MADHAVANI DIRECTOR

C) RELATIVES OF KEY MANAGEMENT PERSONNEL & DIRECTOR

Smt. N. D. Madhavani Wife of Director D.S. Madhavani.

Pratap G. Davda (HUF) Karta of the HUF is the Director

Bharati P. Davda Wife of Director Pratap G. Davda.

Rupal P. Davda Daughter of Director Pratap G. Davda.

3: The balance of debtors, creditors, deposit and loans and advances, are subject to confirmation from parties.

4: The Company has no whole time Company Secretary within the meaning of section 383 A of the Companies Act, 1956.

5: No provisions for taxation have been made in view of current & carry forward losses.

6: In the opinion of the Board of Directors the current assets, loans and advances have a value on real action in the ordinary course of business at least equal to the amount at which items are stated in the Balance sheet.

7: The Company has neither provided nor ascertained the amount of retirement benefits such as Gratuity and Leave Encashment etc., as required by Accounting Standard (AS-15) issued by the Institute of Chartered Accountants of India.

8: Payment of remuneration to whole time directors includes Rs. 12,00,000/- to Me Prataprai G. Davda and Rs. 6,00,000/- to Mr Kishore G. Davda.

9: The Company has not ascertained which assets are to be treated as impaired as per AS-28.

10: ADDITIONAL INFORMATION PURSUANT TO THE PARAGRAPHS 3, 4C AND 4D OF PART II TO SCHEDULE VI TO THE COMPANIES ACT 1956.

11. Information pursuant to part IV of the Companies Act, 1956 viz. Balance sheet abstract and general business profile and cash flow statement pursuant to clause 32 of listing agreement are annexed hereto.

12. In the absence of intimation from the vendors with regard to their registration (filing of memorandum) under "The Micro, Small & Medium Enterprise Development Act, 2006 (27 of 2006)" Hence no disclosures have been made in this regard.

13. Figure of the previous year have been re-grouped / rearranged / reclassified wherever necessary.

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Mar 31, 2010

CONTINGENT LIABILITIES : 31.03.2010 31.03.2009

Claim against the Company not acknowledged as debts nor provided for:

Contingent Liabilities not provided for in respect NIL 16,67,895 of financial charges & interest raised by Development Co op Bank, Mumbai.

2: RELATED PARTY DISCLOSURE (AS INDENTIFIED BY THE MANAGEMENT):

i) Related Party relationship

a) Where control exists :

b) Director / Key Management Personnel:

MR. P. G. DAVDA DIRECTOR

MR. KISHORE G. DAVDA DIRECTOR

MR. D.S. MADHAVANI DIRECTOR

c) RELATIVES OF KEY MANAGEMENT PERSONNEL & DIRECTOR

Smt. N. D. Madhavani Wife of Director D.S. Madhavani.

Pratap G. Davda (HUF) Karta of the HUF is the Director.

Bharati P. Davda Wife of Director Pratap G. Davda.

Rupa! P. Davda Daughter of Director Pratap G. Davda.

3: The Company has no whole time Company Secretary within the meaning of section 383 A of the Companies Act, 1956.

4: No provisions for taxation have been made in view of current & carry forward losses.

5: In the opinion of the Board of Directors the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which items are stated in the Balance sheet.

6: The Company has neither provided nor ascertained the amount of retirement benefits such as Gratuity and Leave Encashment etc., as required by Accounting Standard (AS -15) issued by the Institute of Chartered Accountants of India.

7: Payment of remuneration to whole time directors includes Rs. 12,00,000/-to Mr. Prataprai G. Davda and Rs. 6,00,000/- to Mr. Kishore G. Davda.

8: The Company has not ascertained which assets are to be treated as impaired as per AS 26.

9: ADDITIONAL INFORMATION PURSUANT TO THE PARAGRAPHS 3, 4C AND 4D OF PART II TO SCHEDULE VI TO THE COMPANIES ACT, 1956.

10. Information pursuant to part I V of the Companies Act, 1956 viz. Balance sheet abstract and general business profile and cash flow statement pursuant to clause 32 of listing agreement are annexed hereto.

11. In the absence of intimation from the vendors with regard to their registration (filing of memorandum) under "The Micro, Small & Medium Enterprise Development Act, 2006 (27 of 2006)". Hence no disclosures have been made in this regard.

12. Figure of the previous year have been re-grouped / rearranged / reclassified wherever necessary.