1.11 Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognized for liabilities that can be measured only by using substantial degree of
estimation,if:

a) The Company has a present obligation as a result of past events.

b) A probable outflow of resources is expected to settle the obligation.

c) The amount of the obligation is best estimate required to settle the obligation at the Balance
Sheet date.

d) These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimate.

Reimbursement expected in respect of the expenditure required to settle a provision is recognized only
when it is virtually certain that reimbursement will be received Contingent Liability is disclosed in the
case of:

a) A present obligation arising from past events, when it is not probable that an outflow of resources
will be required to settle the obligation,

b) A present obligation when no reliable estimate is possible, and

c) A possible obligation arising from past events where the probability of outflow of resources is not
remote.

Contingent Assets are neither recognized, nor disclosed.

Provision, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

1.12 Operating Leases:

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest
with the lessor, are recognized as operating leases. Lease rents under operating leases are recognized
as an expense on a straight line basis in the Statement of Profit and Loss over the lease term.

1.13 Cash and cash equivalents:

Cash and cash equivalents comprise cash in hand, demand deposits with banks/corporations and
short term highly liquid investments (original maturity less than 3 months) that are readily convertible
into known amount of cash and are subject to an insignificant risk of change in value.

Cash flows are reported using the indirect method. The cash flows from operating, investing and
financing activities of the Company are segregated under cash follow statement.

1.14 Financial Instruments:

a. Initial recognition & Measurement

The Company recognizes financial assets and financial liabilities when it becomes a party to the
contractual provisions of the instrument. All financial assets and liabilities are recognized at fair
value on initial recognition, except for trade receivables which are initially measured at transaction
price. Transaction costs that are directly attributable to the acquisition or issue of financial assets
and financial liabilities that are not at fair value through profit or loss are added to the fair value on
initial recognition. Regular purchase and sale of financial assets are accounted for at trade date.

b. Subsequent measurement

i. Financial instruments carried at amortized cost

A Financial instrument is subsequently measured at amortized cost if it is held within a
business model whose objective is to hold the asset in order to collect contractual cash
flows and the contractual terms of the financial asset give rise on specified dates to cash
flows that are solely payments of principal and interest (SPPI) on the principal amount
outstanding.

ii. Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive
income if it is held within a business model whose objective is achieved by both collecting
contractual cash flows and selling financial assets and the contractual terms of the financial
asset give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding.

iii. Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above categories is subsequently fair
valued through profit or loss.

All investments equity instruments (mutual funds in scope of Ind AS 109 are measured at
fair value through Profit and Loss (FVTPL)).

iv. Financial liabilities

Financial liabilities are subsequently carried at amortized cost using the effective interest
method, except for contingent consideration recognized in a business combination which is
subsequently measured at fair value through profit and loss. For trade and other payables
maturing within one year from the balance sheet date, the carrying amounts approximate
fair value due to the short maturity of these instruments.

13.1 (i) General Reserve

Pursuant to the provisions of the Companies Act, 1956 , the Company created a General Reserve in earlier years
wherein certain percentage of profits were required to be transferred before declaring dividends. As per Companies
Act 2013, the requirements to transfer profits to General Reserve is not mandatory. General Reserve is a free
reserve available to the Company.

(ii) Securities Premium

Securities Premium is used to record premium on issuance of shares. The reserve shall be utilised in accordance
with provisions of the Companies Act, 2013.

(iii) Retained Earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve,
dividends or other distributions paid to shareholders.

(iv) Other Comprehansive Income

Other Comprehansive Income refers to items of income and expenses that are not recognised as a part of the profilt
and loss account.

16.02 Disclosure under Micro, Small and Medium Enterprises Development Act, 2006 (MSMED)

Disclosures under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (as
amended)

According to information available with the Management and relied upon by the auditors, on the basis of intimation
received from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,
2006 (MSMED Act), the Company has no amounts due to micro and small enterprises under the said Act as follows:

The principal amount and the interest due thereon remaining unpaid to any supplier as at the end of accounting
year:

18.1 Revenue from operations

The Company derives revenues primarily from business sale of “Cut and Polished diamonds” and “Gold and Silver
jewellery”.

Revenue is recognized upon transfer of control of promised products to customers in an amount that reflects the
consideration we expect to receive in exchange for those products or services.

The Company presents revenues net of indirect taxes in its statement of Profit and loss.

Disaggregate revenue information based on Product

The table below presents disaggregated revenues from customers for the year ended 31st March 2025 and 31st
March 2024 based on products:

(I) Financial risk management objectives and policies

The Company''s principal financial liabilities comprises of trade and other payables. The main purpose of these
financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include trade
and other receivables, cash and cash equivalent that derive directly from its operations, investments and other bank
balances including deposits with banks.

The Company is exposed to market risk, commodity risk, credit risk and liquidity risk. The Company''s senior
management oversees the management of these risks.

a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices.

b) Commodity Risk

The principal raw materials for the Company products are diamond, gold, silver alloy, silver, etc which are
purchased by the Company from the suppliers depending on best price and quality specification available. Most
of the input materials diamond,gold, silver alloy, raw silver and pearl are procured from domestic vendors. Raw
material procurement is subject to price negotiation.

In order to mitigate the risk associated with raw material and components prices, the Company manages
its procurement through grading, sourcing of raw material and constant pricing negotiation with vendors. It
renegotiates the prices with its customers in case there is more than normal deviation in the prices of its major
raw materials.

c) Credit Risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk arising from cash and cash
equivalents,deposits, as well as credit exposures from outstanding trade receivables. Credit risk has been
managed by the company by establishing creditworthiness of customers to which the Company grants credit
terms in the normal course of business.

(i) Trade Receivables

Customer credit risk is managed by each customer group subject to management approval. Trade Receviable has
been managed by the Company by establishing creditworthiness of customers to which the Company grants credit
terms in the normal course of business.

Provision on Trade receivable is calculated as per expected credit loss method (ECL) as per IND AS. ECL is
calculated on the basis of delay in payment from invoice dates. Management is estimating the following % of
provision/written off on Trade receivable based on delay in payments.

d) Liquidity risk
(i) Risk assessment

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability
of funding through an adequate amount of committed credit facilities to meet obligations when due and to close
out market positions. The Company has liabilities which are expected to mature within 12 months Rs 225.14 lakhs
as on March 2025 (Rs. 42.18 lakhs as on 31st March 2024). The Company has assets which are expected to be
realised within 12 months Rs. 6,909.86 lakhs as on March 2025 (Rs 6,618.29 lakhs as on 31st March 2024). Hence
Company had a working capital of Rs. 6,684.72 lakhs as on 31st March 2025 (Rs. 6,602.56 lakhs as on 31st March
2024).

The management has assessed that the carrying amount of the Financial Assets/ Liabilities at amortised cost
approximate their fair value largely due to their short-term nature.

(MI) Fair value hierarchy

a) Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed
equity instruments, traded bonds and mutual funds that have quoted price. The fair value of all equity instruments
(including bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting
period.

Level 2 - The fair value of financial instruments that are not traded in active market (for example,counter derivatives)
is determined using valuation techniques which maximise the use of observable market data and rely as little as
possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the
instrument is included in level 2.

Level 3 - If one or more of the significant Inputs is not based on observable market data (unobservable inputs), the
instrument is included in level 3. This is case of the unlisted equity instuments included in level 3.

c) Valuation technique used to determine fair value

The use of quoted market prices in case of investments.

In case of level 3 investments, fair value has been kept same as carrying value.

d) Valuation process

The finance manager of the Company performs the valuation of financial assets and liabilities. Finance Manager
directly reports to the management .Valuation process is done once in every three months in line with the Companies
quarterly reporting periods.

32 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and
all other equity reserves attributable to the equity holders of the company. The primary objective of the Company''s
capital management is to maximise the shareholder value and maintain an optimal capital structure to reduce the
cost of capital.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions.
To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return
capital to shareholders or issue new shares. It is a debt free company and is not subject to any externally imposed
capital requirements.

33 Employee benefits

As per Ind AS “Employee Benefits” (Ind AS - 19), the disclosures of Employee Benefits as defined in the Standard
are given below:

1. Defined contribution plans

a. Employer''s contribution to Provident Fund

b. Employer''s contribution to Employee''s state insurance

2. Defined Benefit Plans

The Company has a defined benefit gratuity plan (Un-funded). Company has maintain the fund through a trust.
Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last
drawn salary) for each completed year of service.The Company has no obligations other than to make the specified
contributions. The contributions are charged to the Statement of Profit and Loss as they accrue.

The following table sets out the status of the Gratuity Plan as required under Indian Accounting Standard (“Ind AS”)
19 “Employee Benefits”.

Note:

A Description of methods used for sensitivity analysis and its Limitations:

1. Sensitivity analysis is performed by verifying a single parameter while keeping all the other parameters
unchanged.

2. Sensitivity analysis fails to focus on the interrelationship between underlying parameters. Hence, the result may
vary if two or more variables are changed simultaneously.

3. The method used does not indicate anything about the likelihood of change in any parameter and the extent
of the change if any.

34 The trade payables of the company include a vendor who has outstanding for more than 3 years an amount of Rs.
49,32,661/- as of March 31,2023. The vendor has been under the Corporate Insolvency Resolution Process since
January 2018. The management of the company is making all efforts to quantify the amount payable to the vendor.
Based on the information provided by the management, the matter is pending before various statutory investigating
authorities. However, the company has not received any claims. Hence, in the opinion of management, it is written
back in the books to account for the absence of vendor confirmation.

35 a) In the opinion of the Management, 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 they are stated in the Balance Sheet. The
provision for all known liabilities is adequate and not in excess of what is required.
b) The account of Trade receivables, Trade payables, Other Liabilities, Loans and Advances are subject to
confirmation / reconciliation and adjustments, if any. The management does not expect any material differences
affecting the current year financial statements.

36 : Disclosure requirements as notified by MCA pursuant to amended Schedule III

Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance Sheet
as given in Part I of Division II of Schedule III to the Companies Act, 2013, are given hereunder to the extent
relevant and other than those given elsewhere in any other notes to the Financial Statements.

37: Disclosure requirements as notified by MCA pursuant to amended Schedule III (Contd....)

(ii) The Company did not have any transactions with struck-off companies.

The Company did not have any transactions with companies struck off under Section 248 of the Companies
Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

(iii) The Company does not have any Benami property, where any proceeding has been initiated or pending
against the Company for holding any Benami property.

(iv) The Company has not been declared as a willful defaulter by any lender who has powers to declare a
company as a willful defaulter at any time during the financial year or after the end of reporting period but
before the date when the financial statements are approved.

(v) The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of
Companies (ROC) beyond the statutory period

(vi) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year

(vii) The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including
foreign entities(intermediaries), with the understanding that the intermediary shall

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(viii) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(ix) The Company does not have any transactions which is not recorded in the books of accounts but has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961
(such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

(x) The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the
Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

38 Disclosures under Schedule III to the Companies Act, 2013, and applicable Indian Accounting Standards have
been made to the extent applicable to the Company.

39 Prior Period of Comparative

The previous figures have been regrouped/ reclassified wherever necessary to make them comparable with those
of the current year.

40 Authorisation of Financial Statements

The financial statements were approved approved by the Board of Directors on 29th May, 2025.

As per our attached report of even date For and on behalf of the Board of Directors of

FOR H. G. Sarvaiya & CO. ZODIAC JRD- MKJ LIMITED

Chartered Accountants

Firm Registration No. 115705W Mahesh Ratilal Shah Monil Mahesh Shah

Managing Director Chief Financial Officer

DIN: 00217516

Hasmukhbhai G. Sarvaiya

Proprietor Dharmesh Pravin Kharwar Pooja Haresh Shah

Membership No 045038 Director Company Secretary & Compliance Officer

DIN: 08412150 ACS 62639

Date: 29th May 2025 Date: 29th May 2025

Place: Mumbai Place: Mumbai

1.11 Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognized for liabilities that can be measured only by using substantial degree of estimation,if:

a) The Company has a present obligation as a result of past events.

b) A probable outflow of resources is expected to settle the obligation.

c) The amount of the obligation is best estimate required to settle the obligation at the Balance Sheet date.

d) These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimate.

Reimbursement expected in respect of the expenditure required to settle a provision is recognized only when it is virtually certain that reimbursement will be received Contingent Liability is disclosed in the case of:

a) A present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation,

b) A present obligation when no reliable estimate is possible, and

c) A possible obligation arising from past events where the probability of outflow of resources is not remote.

Contingent Assets are neither recognized, nor disclosed.

Provision, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

1.12 Operating Leases:

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest with the lessor, are recognized as operating leases. Lease rents under operating leases are recognized as an expense on a straight line basis in the Statement of Profit and Loss over the lease term.

1.13 Cash and cash equivalents:

Cash and cash equivalents comprise cash in hand, demand deposits with banks/corporations and short term highly liquid investments (original maturity less than 3 months) that are readily convertible into known amount of cash and are subject to an insignificant risk of change in value.

Cash flows are reported using the indirect method. The cash flows from operating, investing and financing activities of the Company are segregated under cash follow statement.

1.14 Financial Instruments:

a. Initial recognition & Measurement

The Company recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to the fair value on initial recognition. Regular purchase and sale of financial assets are accounted for at trade date.

b. Subsequent measurement

i. Financial instruments carried at amortized cost

A Financial instrument is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding.

ii. Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

iii. Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above categories is subsequently fair valued through profit or loss.

All investments equity instruments (mutual funds in scope of Ind AS 109 are measured at fair value through Profit and Loss (FVTPL)).

iv. Financial liabilities

Financial liabilities are subsequently carried at amortized cost using the effective interest method, except for contingent consideration recognized in a business combination which is subsequently measured at fair value through profit and loss. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.

13.1 (i) General Reserve

Pursuant to the provisions of the Companies Act, the Company created a General Reserve in earlier years wherein certain percentage of profits were required to be transferred before declaring dividends. As per Companies Act 2013, the requirements to transfer profits to General Reserve is not mandatory. General Reserve is a free reserve available to the Company.

(ii) Securities Premium

Securities Premium is used to record premium on issuance of shares. The reserve shall be utilised in accordance with provisions of the Companies Act, 2013.

(iii) Retained Earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to shareholders.

(iv) Other Comprehansive Income

Other Comprehansive Income refers to items of income and expenses that are not recognised as a part of the profilt and loss account.

21.1 Revenue from operations

The Company derives revenues primarily from business sale of "Cut and Polished diamonds" and "Gold and Silver jewellery".

Revenue is recognized upon transfer of control of promised products to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services.

The Company presents revenues net of indirect taxes in its statement of Profit and loss.

Disaggregate revenue information based on Product

The table below presents disaggregated revenues from customers for the year ended 31st March 2024 and 31st March 2023 based on products:

34 Financial Instruments and Risk Management

(I) Financial risk management objectives and policies

The Company''s principal financial liabilities comprises of trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include trade and other receivables ,cash and cash equivalent that derive directly from its operations, investments and other bank balances including deposits with banks.

The Company is exposed to market risk, commodity risk, credit risk and liquidity risk. The Company''s senior management oversees the management of these risks.

a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices.

b) Commodity Risk

The principal raw materials for the Company products are diamond, gold, silver alloy, silver, etc which are purchased by the Company from the suppliers depending on best price and quality specification available. most of the input materials diamond, gold, silver alloy, raw silver and pearl are procured from domestic vendors. Raw material procurement is subject to price negotiation.

In order to mitigate the risk associated with raw material and components prices, the Company manages its procurement through grading, sourcing of raw material and constant pricing negotiation with vendors. It renegotiates the prices with its customers in case there is more than normal deviation in the prices of its major raw materials.

c) Credit Risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk arising from cash and cash equivalents,deposits, as well as credit exposures from outstanding trade receivables. Credit risk has been managed by the company by establishing creditworthiness of customers to which the Company grants credit terms in the normal course of business.

(i) Trade Receivables

Customer credit risk is managed by each customer group subject to management approval. Trade Receviable has been managed by the Company by establishing creditworthiness of customers to which the Company grants credit terms in the normal course of business.

Provision on Trade receivable is calculated as per expected credit loss method (ECL) as per IND AS. ECL is calculated on the basis of delay in payment from invoice dates. Management is estimating the following % of provision/written off on Trade receivable based on delay in payments.

d) Liquidity risk

(i) Risk assessment

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions. The Company has liabilities which are expected to mature within 12 months '' 15.73 Lakhs as on March 2024 ('' 69.20 Lakhs as on 31st March 2023). The Company has assets which are expected to be realised within 12 months '' 6,618.29 Lakhs as on March 2024 ('' 6,947.42 Lakhs as on 31st March 2023). Hence Company had a working capital of Rs.6,602.56 Lacs as on 31st March 2024 ('' 6,878.22 Lakhs as on 31st March 2023).

(ii) Risk Management

The Company has sufficient working capital to maintain its liquidity position. Management monitors rolling forecasts of Company''s liquidity position and cash and cash equivalent on the basis of expected cash flows.

(III) Fair value hierarchy

a) Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, traded bonds and mutual funds that have quoted price. The fair value of all equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting period.

Level 2 - The fair value of financial instruments that are not traded in active market (for example,counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3 - If one or more of the significant Inputs is not based on observable market data (unobservable inputs), the instrument is included in level 3. This is case of the unlisted equity instuments included in level 3

c) Valuation technique used to determine fair value

The use of quoted market prices in case of investments.

In case of level 3 investments, fair value has been kept same as carrying value.

d) Valuation process

The finance manager of the Company performs the valuation of financial assets and liabilities. Finance Manager directly reports to the management .Valuation process is done once in every three months in line with the Companies quarterly reporting periods.

35 Capital management

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the company. The primary objective of the Company''s capital management is to maximise the shareholder value and maintain an optimal capital structure to reduce the cost of capital.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. It is a debt free company and is not subject to any externally imposed capital requirements.

36 Employee benefits

As per Ind AS "Employee Benefits" (Ind AS - 19), the disclosures of Employee Benefits as defined in the Standard are given below:

1. Defined contribution plans

a. Employer''s contribution to Provident Fund

b. Employer''s contribution to Employee''s state insurance

Note:

A Description of methods used for sensitivity analysis and its Limitations:

1. Sensitivity analysis is performed by verifying a single parameter while keeping all the other parameters unchanged.

2. Sensitivity analysis fails to focus on the interrelationship between underlying parameters. Hence, the result may vary if two or more variables are changed simultaneously.

3. The method used does not indicate anything about the likelihood of change in any parameter and the extent of the change if any.

37 The trade payables of the company include a vendor who has outstanding for more than 3 years an amount of Rs. 49,32,661/- as of March 31,2023. The vendor has been under the Corporate Insolvency Resolution Process since January 2018. The management of the company is making all efforts to quantify the amount payable to the vendor. Based on the information provided by the management, the matter is pending before various statutory investigating authorities. However, the company has not received any claims. Hence, in the opinion of management, it is written back in the books to account for the absence of vendor confirmation.

38 a) In the opinion of the Management, 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 they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of what is required. b) The account of Trade receivables, Trade payables, Other Liabilities, Loans and Advances are subject to confirmation / reconciliation and adjustments, if any. The management does not expect any material differences affecting the current year financial statements.

Note 39 : Disclosure requirements as notified by MCA pursuant to amended Schedule III

Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance Sheet as given in Part I of Division II of Schedule III to the Companies Act, 2013, are given hereunder to the extent relevant and other than those given elsewhere in any other notes to the Financial Statements

Note 40 : Disclosure requirements as notified by MCA pursuant to amended Schedule III (Contd....)

(ii) The Company did not have any transactions with struck-off companies.

The Company did not have any transactions with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies Act, 1956 during the financial year.

(iii) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(iv) The Company has not been declared as a willful defaulter by any lender who has powers to declare a company as a willful defaulter at any time during the financial year or after the end of reporting period but before the date when the financial statements are approved.

(v) The Company does not have any charges or satisfaction which is yet to be registered with the Registrar of Companies (ROC) beyond the statutory period

(vi) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year

(vii) The company has not advanced or loaned or invested funds to any other person(s) or entity(is), including foreign entities(intermediaries), with the understanding that the intermediary shall

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(viii) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(ix) The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 ( such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

(x) The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.

41 Disclosures under Schedule III to the Companies Act, 2013, and applicable Indian Accounting Standards have been made to the extent applicable to the Company.

42 Prior Period of Comparative

The previous figures have been regrouped/ reclassified wherever necessary to make them comparable with those of the current year.

43 Authorisation of Financial Statements

The financial statements were approved by the Board of Directors on 30 May, 2024

As per our attached report of even date For and on behalf of the Board of Directors of

FOR BANSI KHANDELWAL & CO. ZODIAC JRD- MKJ LIMITED

Chartered Accountants

Firm Registration No. 145850W Mahesh Ratilal Shah Monil Mahesh Shah

Managing Director Chief Financial Officer

DIN: 00217516

Bansi V Khandelwal

Proprietor Preeti Pranav Sanghavi Pooja Haresh Shah

Membership No 138205 Whole Time Director Company Secretary

DIN:02076373

Date: 30th May 2024 Date: 30th May 2024

Place:Mumbai Place: Mumbai

1. The company did not have a whole time company secretary and hence the accounts have been signed by Chairman & two Directors.

2. Gratuity & Leave Encashment: As informed by the directors the Company accounts liability towards leave encashment on Realization/Payment basis. The company has made provision for Gratuity in compliance of AS -15

3. 4 Contingent liability not provided in respect of:

(a) Notice u/s 147 of the Income Tax Act, 1961 has been received for AY 2007-08 to AY 2011-12. Re: A.Y.2007-08, The company has filed Appeal on 16-04-2015 with the office of the Commissioner of Income Tax (Appeal-10) Mumbai for A.Y.2007-08.

(b) Re: A.Y.2008-09,2009-10,2010-11 and 2011-12 Proceedings u/s 147 of the Income Tax Act,1961 for the above stated four years have been initiated by the Income Tax Department. Documents papers etc have been submitted by the Company Assessment Orders for the same are awaited.

(c) Income Tax Assessment order has been received for A.Y : 2012-13 and demand of tax for the year has been paid by the company.

Note : Actual production includes manufactured through outside job work.

(*) PURCHASES GOLD INCLUDES IMPORT EXCHANGE DIFFERENCE IMPORT EXPENSES OF RS.3278835 (8970827) (**) PURCHASES SILVER INCLUDES IMPORT EXCHANGE DIFFERENCE IMPORT EXPENSES OF RS. 0 ( 0)

(*) Export of Polished Diamonds includes Export Exchange Difference of Rs. 296731 LOCAL SALE RS.165607788 (Rs.5050083 local sale Rs. 170084621)

(**) Export of Jewellery includes Export Exchange Difference of Rs. 526488.00 LOCAL SALE 24425709 (Rs.6635011.00 local sale Rs. 28576172)

(***) Export of Precious & Semi-Precious includes Export Exchange Difference of Rs.O (0)

Managerial Remuneration of Rs. 913999 (Previous year Rs. 818227)

The company has been advised that computation of Net Remuneration u/s 349 of the Companies Act, 1956 need not be enumerated, since no commission is paid to Directors. Fixed monthly Remuneration is paid to Directors as per schedule XII of the Companies Act, 1956.

(*) PURCHASES GOLD INCLUDES IMPORT EXCHANGE DIFFERENCE IMPORT EXPENSES OF RS.64293 (76003)

(**) PURCHASES RAW PEARL INCLUDES IMPORT EXCHANGE DIFFERENCE IMPORT EXPENSES OF RS.O (0)

(***) PURCHASES SEMI PRECIOUS INCLUDES IMPORT EXCHANGE DIFFERENCE IMPORT EXPENSES OF RS.O ( 0)

(****) PURCHASE OF POLISHED DIAMOND INCLUDES IMPORT EXCHANGE DIFFERENCE OF RS. 0 (0)

(*****) PURCHASES SILVER INCLUDES IMPORT EXCHANGE DIFFERENCE IMPORT EXPENSES OF RS. 0(0) '

Segment Accounting :

The company's operation predominantly relate to single segment namely Diamonds and is primary basis for segmental information's. Since the Company operates in a single business, Segment wise Reporting as defined in AS-17 of ICAI is not applicable.

Related Party Disclosures in accordance with AS-18 issued by ICAI:

a) Related Parties & nature of relationship with Associate Companies, Firms, Relatives of Directors

1) JRD Gems Pvt. Ltd.

2) JRD-MKJ Diamonds Pvt. Ltd.

3) International Gems Export (I) Corporation (FIRM)

4. There are no subsidiary companies to Company. The company has not obtained any economic benefits from its activities with the associate Companies/firms hence provisions of AS-21 issued by I.C.A.I, are not applicable in current year.

5. Deferred Tax :

A The Company has adopted As-22"Accounting for taxes on income" issued by the Institute of Chartered Accountants of India. B The effect of timing difference on account of: Difference between Book Depreciation & Depreciation under Income Tax Act, 1961.

1. The company did not have a whole time company secretary and hence the accounts have been signed by Chairman & two Directors.

2. Gratuity & Leave Encashment : As informed by the directors the Company accounts liability towards leave encashment on Realisation/Payment basis. The company has made provision for Gratuity in compliance of AS -15

3. Contingent liability not provided in respect of :

a) Income Tax Assessment orders have been received upto A.Y : 2008-09 and refund orders have been received for these years.

1. The company did not have a whole time company secretary and hence the accounts have been signed by Chairman & two Directors.

2. Gratuity & Leave Encashment : As informed by the directors the Company accounts liability towards leave encashment on Realisation/ Payment basis. The company has made provision for Gratuity in compliance of AS -15

3. Contingent liability not provided in respect of:

a) Income Tax Assessment orders have been received upto A.Y : 2008-09 and refund orders have been received for these years

4 Segment Accounting :

The company''s operation predominantly relate to single segment namely Diamonds and is primary basis for segmental informations.Since the Company operates in a single business, Segmentwise Reporting as defined in AS-17 of ICAI is not applicable.

5 There are no. subsidary companies to Company. The company has not obtained any economic benefits from its activities with the associate Companies/firms hence provisions of AS-21 issued by I.C.A.I, are not applicable in current year.

6 Deferred Tax:

A The Company has adopted As-22"Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

B The effect of timing difference on account of: Difference between Book Depreciation & Depreciation under Income Tax Act, 1961.

1. The company did not have a whole time company secretary and hence the accounts have been signed by Chairman & two Directors.

2. Gratuity & Leave Encashment : As informed by the directors the Company accounts liability towards leave encashment on Realisation/ Payment basis. The company has made provision for Gratuity in compliance of AS -15

3. Contingent liability not provided in respect of:

a) Income Tax Assessment orders have been received uoto A.Y : 2008-09 and refund orders have been received for these vears

4 There are no. subsidary companies to Company. The company has not obtained any economic benefits from its activities with the associate Companies/firms hence provisions of AS-21 issued by I.C.A.I. are not applicable in current year.

5 Deferred Tax:

A The Company has adopted As-22"Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

B The effect of timing difference on account of: Difference between Book Depreciation & Depreciation under Income Tax Act, 1961.

6 Figures for previous year have been regrouped to confirm to the current year's classifications and are shown in the brackets.

1. The company did not have a whole time company secretary and hence the accounts have been signed by Chairman & two Directors.

2. Gratuity & Leave Encashment : As informed by the directors the Company accounts liability towards leave encashment on Realisation/ Payment basis. The company has made provision for Gratuity in compliance of AS -15

3. Contingent liability not provided in respect of:

a) Income Tax Assessment orders have been received upto A.Y : 2007-08 and refund orders have been received for these years

4 Segment Accounting :

The companys operation predominantly relate to single segment namely Diamonds and is primary basis for segmental informations.Since the Company operates in a single business, Segmentwise Reporting as defined in AS-17 of ICAI is not applicable.

5 There are no. subsidary companies to Company. The company has not obtained any economic benefits from its activities with the associate Companies/firms hence provisions of AS-21 issued by I.C.A.I, are not applicable in current year.

6 Figures for previous year have been regrouped to confirm to the current years classifications and are shown in the brackets.