Notes to Accounts of Saral Mining Ltd.

Mar 31, 2014

NOTE: 1 Contingent Liabilities (not provided for) in respect of:

Year Current Year Previous Year (Rs.) (Rs.)

Claims against the company not Nil Nil acknowledged as debts

NOTE: 2 In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

NOTE: 3 Related Party Disclosures (as identified and certified by the management) Related party disclosures as required under Accounting Standard (AS-18) on "Related Party Disclosure" issued by the Institute of Chartered Accountants of India are given below:

a) Relationship

i) Associate Companies: NIL

ii) Key Management Personnel (whole-time directors) ANIL MISTRY

b) No transactions were carried out with related parties during the year.

NOTE: 4 previous year figures have been regrouped and/ or rearranged wherever considered necessary and includes Figures In brackets relate to previous year.

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Mar 31, 2013

NOTE: 1 Contingent Liabilities (not provided for) in respect of:

Year Current Year Previous Year (Rs.) (Rs.)

Claims against the company not Nil Nil acknowledged as debts

NOTE: 2 In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

NOTE: 3 Related Party Disclosures (as identified and certified by the management) Related party disclosures as required under Accounting Standard (AS-18) on "Related Party Disclosure" issued by the Institute of Chartered Accountants of India are given below:

a) Relationship

i) Associate Companies: NIL

ii) Key Management Personnel (whole-time directors) Mahendra Ganatra

b) No transactions were carried out with related parties during the year.

NOTE: 4 previous year figures have been regrouped and/ or rearranged wherever considered necessary and includes Figures In brackets relate to previous year.

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Mar 31, 2012

NOTE: 1 Contingent Liabilities (not provided for) in respect of:

Year Current Year Previous Year (Rs.) (Rs.)

Claims against the company not acknowledged as debts Nil Nil

NOTE: 2 In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

NOTE: 3 Related Party Disclosures (as identified and certified by the management) Related party disclosures as required under Accounting Standard ( AS-18 ) on " Related Party Disclosure" issued by the Institute of Chartered Accountants of India are given below:

a) Relationship

i) Associate Companies: NIL

ii) Key Management Personnel (whole-time directors) Mahendra Ganatra

b) No transactions were carried out with related parties during the year.

NOTE: 4. Previous year figures have been regrouped and/ or rearranged wherever considered necessary and includes Figures In brackets relate to previous year.

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Mar 31, 2010

1. Contingent Liabilities (not provided for) in respect of: Current Year Previous Year

(Rs.) (Rs.)

Claims against the company not acknowledged as debts Nil Nil

2. In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

3. Deferred Tax

On prudential basis no provision for deferred Tax assets has been made.

4. After the demerger of Information Technology Undertaking, the Companys operations comprise of only one segment, i.e. "Trading" pursuant to the Guidelines stated in AS-17 issued by the Institute of Chartered Accountants of India

5. Related Party Disclosures (as identified and certified by the management )

Related party disclosures as required under Accounting Standard ( AS-18 ) on " Related Party Disclosure" issued by the Institute of Chartered Accountants of India are given below:

a) Relationship

i) Associate Companies: NIL

ii) Key Management Personnel (whole-time directors)

Mahendra Ganatra

b) No transactions were carried out with related parties during the year.

6. Previous year figures have been regrouped and/ or rearranged wherever considered necessary and includes Figures in brackets relate to previous year.

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Mar 31, 2009

1. Contingent Liabilities (not provided for) in respect of: Current Year Previous Year

(Rs.) (Rs.)

Claims against the company not acknowledged as debts Nil Nil

2. In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

3. Deferred Tax

On prudential basis no provision for deferred Tax assets has been made.

4. After the demerger of Information Technology Undertaking, the Companys operations comprise of only one segment, i.e. "Trading" pursuant to the Guidelines stated in AS-17 issued by the Institute of Chartered Accountants of India

5. Related Party Disclosures (as identified and certified by the management)

Related party disclosures as required under Accounting Standard (AS-18) on " Related Party Disclosure" issued by the Institute of Chartered Accountants of India are given below:

a) Relationship

i) Associate Companies: NIL

ii) Key Management Personnel (whole-time directors) Mahendra Ganatra b) No transactions were carried out with related parties during the year.

6. Information Pursuant to paragraphs 3 & 4 of part II of Schedule VI to the Companies Act, 1956.

7. Previous year figures have been regrouped and/ or rearranged wherever considered necessary and includes Figures in brackets relate to previous year.