ix) Provisions and Contingent Liabilities

Provisions are recognised when there is 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 there is a reliable estimate of the amount of the obligation. When a provision is measured using the
cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is

material).

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or
non occurrence of one or more uncertain future events not wholly within the control of the company or a present obligation that arises from past events where it is
either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made.

x) Cash and Cash Equivalents

In the cash flow statement, cash and cash equivalents includes cash on hand and demand deposits with banks.

xi) Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments.

All financial assets and liabilities are carried at amortised cost except Investments mentioned in note no 4(a) which are measured at Fair Value of the latest available
financial.

The management consider that the carrying amounts of financial assets and liabilities except Investments recognized in the financial statements approximate their
fair value as per the latest financials available for the investee companies.

Impairment of financial assets

The Company applies the expected credit loss model for recognising impairment loss on Financial assets measured at

amortised cost and trade receivables.

For trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 18,
the Company always measures the loss allowance at an amount equal to lifetime expected credit losses.

Further, for the purpose of measuring lifetime expected credit loss ("ECL") allowance for trade receivables, the Company has used a practical expedient as permitted
under Ind AS 109. This expected credit loss allowance is computed based on a provision matrix which takes into account historical credit loss experience and adjusted
for forward-looking information.

xiFUse of Estimates

The Preparation of financial statements requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities as at the date of
the financial statements and reported amounts of revenues and expenses during the reporting period. The recognition, measurement, classification or disclosure of
an item or information in the financial statements is made relying on these estimates. Differences between actual results and estimates are recognized in the period
in which the results are known or materialized.

2b. Critical accounting judgements and key sources of estimation uncertainties

The preparation of the financial statements in conformity with Ind AS requires the Management to make estimates and assumptions considered in the reported
amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates
used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual
results and the estimates are recognised in the periods in which the results are known / materialise.

Note:

a) We have no plans or intentions that may materially affect the carrying value or classification of
assets and liabilities reflected in the financial statements.

b) The company has complied with all aspects of contractual agreements that could have a material
effect on the financial statements in the event of non-complaince.

c) There have been no communication concerning non-compliance with requirements of regulatory
authorities with respect to financial matters.

d) Out of above Rs. 2,32,25,603/- receivable from Topson Iron Ore India Private Limited is doubtful in
nature.

Further, the ultimate outcome of the above matter cannot presently be determined hence, no
provision for doubtful advance is being made.

19. Other Notes

1, Figures...

a) Figures are rounded off to the nearest Rupee.

b) Figures in brackets pertain to the previous year.

c) Figures pertaining to the previous year have been regrouped or reclassified wherever found necessary to make them comparable with the figures of
the Current Year.

2, In the opinion of Board of Directors the current assets, all loans and advances are approximately of the value stated, if realized in the ordinary course
of business, The provisions for all known liabilities are adequate and it is not in excess of amount payable,

3, The balances appearing to the debit and credit of various parties are subject to confirmation by parties and review by the company.

4, There was penalty being levied on the Company for Non-appointment of Company Secretary, Late submission of Annual Report, Non or Late
Submission of Quarterly Results, Freeze of Promoters Demat Account, etc, by Bombay Stock Exchanges as per rules framed by the SEBI amounting to

Rs, 10,05,360/- in FY2019-20 out of which Rs7,05,640/- is still outstanding as it is under dispute, Also in FY2020-21, penalty for non compliance earo

amounting to Rs.6,96,200/- has been levied by Bombay Stock Exchanges as per rules framed by the SEBI and the same is outstanding as it is under
dispute.

5, The office of the company secretary has been vacant since January 2020, The company is in process of appointing a full time company secretary as
per section 203 of the Companies Act,2013

6, According to the information and explanations given to us, the company is required to be registered under section 45-IA of the Reserve Bank of India
Act 1934, however the company has not obtained such registration because as per management such a situation has arisen due to no new project is
undertaken by the company, Further, management is of the opinion that such a position is temporary in nature and in foreseeable future company will
commence with a new project soon.

7. i) Additional Regulatory Information Required by Schedule III

a. No proceeding has been initiated or pending against the company for holding any Benami property under the Benami Transactions (Prohibition) Act,

1988 (45 of 1988) and rules made thereunder.

b, The Company has not been declared willful defaulter (in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India) by
any bank or financial Institution or other lender,

c, The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies
Act, 1956,

d, The Company has not traded or invested in crypto currency orvirtual currency during the year,

e. The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any
other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the
Intermediary shall:

(i) Directly or indirectly lend 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 does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year
in the tax assessments under the Income Tax Act, 1961 and there is no previously unrecorded income and related assets that are required to be
recorded in the books of account during the year.

g, There are no charges or satisfaction yet to be registered with ROC beyond the statutory year,

h. Other information with regards to other matters specified in Schedule III to the Act, is either Nil or not applicable to the Company.

Signature to note 1 to 19 of financial statements.

Kirti Doshi Naresh Vaghani

Managing Director Director

DIN: 01964171 DIN: 07780209

Place: Mumbai Place:Mumbai

Date:30th May,2025 Date:30-5-2025