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Notes to Accounts of Kachchh Minerals Ltd.

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.


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.


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.


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.


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.