4 Terms & Right attached to Equity Shares & Preference shares

Equity Shares: The company has one class of equity shares having a par value of Rs.10/- each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Director is subject to approval of the shareholders in the ensuing Annual General Meeting 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 proportionate to their shareholding.

a) Term loan from Axis bank has been sanctioned during FY 2021-22 which carries floating interest rate @7.5% p.a. and is secured by immovable property in the name of director and personal gaurantee of the directors of the company.

NOTES NO. 32:

32.1 In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the same value if realised in the ordinary courses of business and the provision for all known liabilities is adequately made.

32.2 The figures and groupings of the previous year are reclassified whenever necessary so as to make them comparable with the current year.

32.3 The assessee is engaged in the business of diamonds during the year under report and the operations of the business predominantly consist of only one segement. Therefore, there is no reportable segments of its business disclosure as per Accounting Standard -17.

32.4 No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

32.5 The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

32.6 Paises have been rounded off to the nearest rupee Rs in Lacs.

1 As a result of high inventory levels, the current ratio has improved compared to last year.

2 The company received an amount against share warrants during the year, resulting in an increase in equity. As equity

has increased, the Debt-Equity Ratio has improved.

3 Net Income has been increased and debt services has been reduced, in a result Debt Service coverage ratio has been improved.

4 Due to increase in invetory level, this ratio has been increase significantly.

5 Trade Receivable Turnover Ratio has been improved due to lower credit period to customers as compared to previous

year.

6 A faster payment system has resulted in a improved Trade Payable Turnover Ratio.