1 : The Company has one joint venture namely Bijahan Coal Private Limited incorporated in India. The Company has 5% holding in the joint venture.

Based on the audited financial statements received, the proportionate share of assets, liabilities, Income and Expenditure of the entity is as under :

Other Commitments:

2. The Company also, has its own claims I counter claims against these parties as per terms of their respective contracts. In effect the Management does not expect any major liability devolve upon the Company on account of these cases.

The Income - Tax assessments of the Company have been completed upto Assessment Year 2013-14. The disputed demand outstanding up to the said Assessment Year is Rs 162.08 lacs. Based on the decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be either deleted or substantially reduced and accordingly no provision has been made.

Besides the above, the amount in respect of claims of interest etc. claimed by the parties cannot be quantified.

3 : DISCLOSURE RELATING TO EMPLOYEE BENEFITS :

In Compliance with the Accounting Standard 15 (revised 2005) from Current Year only " Employee Benefits", the Company has got the employee benefits evaluated from actuarial valuer.

4 : - The estimate of future salary increase considered in actuarial valuation takes into account inflation, seniority, promotion and other relevant factors.

Leave encashment / compensated absence are not funded. Hence, change in fair value of Plan Assets have not been given.

5 : The Company is engaged in the manufacturing I trading of Iron & Steel, Metals & Natural Resources business which, in context of Accounting Standard - 17 as notified under Companies (Accounting Standard) Rules, 2006 is considered the only business segment.

6. - Related party relationship is as indentified by the Company in accordance with AS-18. There may be such parties which do not fall under section 2(76) of Companies Act, 2013.

7. The accounts have been prepared for a period of 12 months i.e. from 1^st April, 2015 to 31⁸¹ March, 2016.

In the opinion of the Management, the Current Assets. Loans and Advances etc., are of the approximate value stated, if ' realized in the ordinary course of business.

In respect of amounts due to Micro, Small and Medium enterprises under The Micro, Small and Medium Enterprises C. Development Act 2006", the Company has certified that as a policy the payment to suppliers is made within 30 days except in disputed cases.

Balances on account of trade/other receivable, trade/other payables and loans and advances are subject to the confirmation ‘ and reconciliation with respective parties, g The figures of the previous year have been regrouped / reclassified .where ever considered necessary, to confirm to current ‘ year's classification.

8. Notes No. 1 to 33 form an Integral part of the accounts and has duly been authenticated.