i.Provisions and contingent liabilities
General

Provisions are recognised when the Company has 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 a reliable estimate can be made of the amount of the obligation. The expense relating to
a provision is presented in the statement of profit and loss.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the
liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingent liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more
uncertain future events beyond the control of the Company or a present obligation that is not recognised because it is not probable that an outflow of resources
will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognised because it
cannot be measured reliably. The Company does not recognise a contingent liability but discloses its existence in the financial statements.

j.Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity
Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair
value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business
model for managing them. With the exception of trade receivables that do not contain a significant financing component, the Company initially measures a
financial asset at its fair value plus, in the case offinancial asset not recorded at fair value through profit or loss, transaction costs. Trade receivables that do not
contain a significant financing component are measured at the transaction price determined under Ind AS 115.

In order for a financial asset to be classified and measured at amortised cost, it needs to give rise to cash flows that are ‘solely payments of principal and interest
(SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financial assets with cash
flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model.

Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way
trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in below mentioned categories:

- Financial assets at amortised cost (debt instruments)

- Financial assets at fair value through other comprehensive income (FVTOCI) with recycling of cumulative gains and losses (debt instruments)

- Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments)

- Financial assets at fair value through profit or loss (FVTPL)

Financial assets at amortised cost (debt instruments)

A ‘financial asset’ is measured at the amortised cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

Contractual terms ofthe asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount
outstanding.

This category is the most relevant to the Company. After initial measurement, such financial assets are subsequently measured at amortised cost using the
effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an
integral part of the EIR. The EIR amortisation is included in other income in the statement of profit and loss. The losses arising from impairment are recognised
in the statement of profit and loss. The Company’s financial assets at amortised cost includes trade receivables, loans and other receivables

Financial assets at FVTOCI (debt instruments)

A ‘financial asset’ is classified as at the FVTOCI if both of the following criteria are met:

a) The objective of the business model is achieved both by collecting contractual cash flows and selling the financial assets, and

b) The asset’s contractual cash flows represent SPPI.

Debt instruments included within the FVTOCI category are measured initially as well as at each reporting date at fair value. Fair value movements are recognised
in the other comprehensive income (OCI). However, the Company recognises interest income, impairment losses and reversals and foreign exchange gain or loss
in the statement of profit and loss. On de-recognition, cumulative gain or loss previously recognised in OCI is reclassified from the equity to statement of profit
and loss.

The Company has not designated any financial asset (debt instruments) as at FVTOCI.

Financial assets designated at fair value through OCI (equity instruments)

On initial recognition of an equity instrument that is not held for trading, the Company can elect to classify irrevocably its equity investments as equity
instruments designated at fair value through OCI. The classification is determined on an instrument-by-instrument basis. Equity instruments which are held for
trading are classified as at FVTPL.

Subsequently, these financial assets are measured at fair value with gains and losses arising from changes in fair value recognised in other comprehensive income.
Gains and losses on these financial assets are never recycled from other comprehensive income to profit or loss, even on sale of investment. However, the
Company may transfer the cumulative gain or loss within equity.

Dividends on these investments are recognised as ‘other income’ in the statement ofprofit and loss when the right ofpayment has been established, except when
the Company benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity
instruments designated at fair value through OCI are not subject to impairment assessment.

The Company elected to classify irrevocably its listed equity investments under this category.

Financial assets at fair value through profit or loss (FVTPL)

Financial assets at FVTPL are carried in the balance sheet at fair value with net changes in fair value recognised in the statement of profit and loss.

Debt instrument, which does not meet the criteria for categorisation as at amortised cost or as FVTOCI, is classified as at FVTPL.

In addition, the Company may elect to designate a debt instrument, which otherwise meets amortised cost or FVTOCI criteria, as at FVTPL. However, such
election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ‘accounting mismatch’). The Company has
designated investment in mutual funds, bonds and derivative instruments as at FVTPL.

Derecognition

A financial asset is primarily derecognised when:

? The rights to receive cash flows from the asset have expired, or

The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without

? material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the
asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the following
financial assets and credit risk exposure:

a) Financial assets that are debt instruments, and are measured at amortised cost e.g., loans, debt securities, deposits and bank balance.

b) 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 115.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on:

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a
portion of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity
expects to receive (i.e., all cash shortfalls), discounted at the original EIR. When estimating the cash flows, the Company considers:

All contractual terms of the financial instrument (including prepayment, extension, call and similar options) over the expected life of the financial

? instrument. However, in rare cases when the expected life of the financial instrument cannot be estimated reliably, then the entity is required to use the
remaining contractual term of the financial instrument.

? Cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

As a practical expedient, the Company uses a provision matrix to determine impairment loss allowance on portfolio ofits trade receivables. The provision matrix
is based on its historically observed default rates over the expected life of the trade receivables and is adjusted for forward-looking estimates. At every reporting
date, the historical observed default rates are updated and changes in the forward-looking estimates are analysed.

ECL impairment loss allowance (or reversal) recognised during the period is recognised as income/ expense in the statement of profit and loss. This amount is
reflected under the head ‘Other expenses’ in the statement of profit and loss.

The balance sheet presentation for various financial instruments is described below:

Financial assets measured as at amortised cost and contractual revenue receivables: ECL is presented as an allowance, i.e., as an integral part of the

? measurement of those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset meets write-off criteria, the Company
does not reduce impairment allowance from the gross carrying amount.

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables or as derivatives
designated as hedging instruments in an effective hedge, as appropriate.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Company’s financial liabilities include trade and other payables, loans and borrowings and derivative financial instruments

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss (FVTPL) include financial liabilities held for trading and financial liabilities designated upon initial
recognition as at FVTPL. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category
also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by Ind
AS 109 ‘Financial instruments’.

Gains or losses on liabilities held for trading are recognised in the profit or loss
Loans and borrowings

This is the category most relevant to the Company. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost
using the EIR method. Gains and losses are recognised in statement of profit and loss when the liabilities are derecognised as well as through the EIR
amortisation process.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortisation is included as finance costs in the statement of profit and loss.

This category generally applies to borrowings.

De-recognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by
another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is
treated as the de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the
statement of profit and loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the
recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

k. Retirement and other employee benefits

Retirement benefits in the form ofcontribution to Statutory Provident Fund and other funds. The Company has no obligation, other than the contribution payable
to the respective funds. The Company recognises contribution payable to these schemes as an expense, when an employee renders the related service. If the
contribution payable to the scheme for service received before the balance sheet date exceeds the contribution already paid, the deficit payable to the scheme is
recognised as a liability after deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received before
the balance sheet date, then excess is recognised as an asset to the extent that the pre-payment will lead to, for example, a reduction in future payment or a cash
refund.

The Company operates only one defined benefit plans for its employees, viz., gratuity. The costs of providing benefits under this plan are determined on the basis
of actuarial valuation at each year-end. Separate actuarial valuation is carried out for each plan using the projected unit credit method. Re-measurements,
comprising of re-measurement gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and
the return on plan assets (excluding amounts included in net interest on the net defined benefit liability), are recognised immediately in the balance sheet with a
corresponding debit or credit to retained earnings through OCI in the period in which they occur. Re-measurements are not reclassified to statement of profit and
loss in subsequent periods.

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises the following changes in the net
defined benefit obligation as an expense in the statement of profit and loss:

- Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine settlements; and

- Net interest expense or income

Current service cost is recognised within employee benefits expenses. Net interest expense or income is recognised within finance costs.

Accumulated leave, which is expected to be utilised within the next 12 months, is treated as short-term employee benefit. The Company measures the expected
cost of such absences as the additional amount that it expects to pay as a result of the unused entitlement that has accumulated at the reporting date. The
Company treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee benefit for measurement purposes. Such long¬
term compensated absences are provided for based on the actuarial valuation using the projected unit credit method at the year-end. Re-measurement gains/losses
are immediately taken to the statement of profit and loss and are not deferred.

L. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of
equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period is adjusted for events such as bonus
issue, bonus element in a rights issue, share split, and reverse share split (consolidation of shares) that have changed the number of equity shares outstanding,
without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number
of shares outstanding during the period are adjusted for the effect of all potentially dilutive equity shares.

C. Recent accounting pronouncements
Standards notified but not yet effective

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules
as issued from time to time. MCA has notified amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions, applicable w.e.f. April 1, 2024.
The Company has reviewed the new pronouncements and based on its evaluation has determined that it does not have any impact in its standalone financial
statements.

Note: In 1994, Easter Sugar Limited (Now known as Kundan Minerals & Metals Limited ) (hereinafter referred to as "the Company") entered
into a lease agreement with Shree Hanuman Sugar & Industries Limited for the operation of a sugar mill located in Motihari, Bihar. Over the
course of the lease, the Company made substantial investments in the installation and operation of plant and machinery, continuing such
operations until 2005.

In 2006, both parties executed an agreement under which Shree Hanuman Sugar & Industries Limited undertook to purchase the Company's
machinery. However, despite the execution of this agreement, Shree Hanuman Sugar & Industries Limited failed to make any payment towards
the said purchase.

Subsequently, the Company underwent insolvency proceedings, and in 2023, a resolution plan for its revival was approved by the Hon’ble
National Company Law Tribunal (NCLT) Kolkatta. The approved plan clearly affirmed that the Company retained ownership of all its
machinery.

Recently, Shree Hanuman Sugar & Industries Limited also entered into liquidation proceedings. During this process, the Resolution Professional
handling "Shree Hanuman Sugar & Industries Limited" insolvency erroneously included the Company’s machinery as assets belonging to Shree
Hanuman Sugar & Industries Limited and even published public notices to that effect.

Consequently, the Company approached the Hon’ble NCLT, Kolkata, Division Bench-II, seeking confirmation of its ownership over the
disputed machinery. The Company further requested an interim relief to restrain any sale or disposal of the said assets until the matter is
adjudicated by the Tribunal.

So, in light of the circumstances outlined above, the Company has neither disposed of nor transferred any of the machinery in question.
Furthermore, no depreciation has been charged on these assets in the Company’s books. This accounting treatment reflects the Company’s
consistent position that the machinery remains its property, pending final adjudication by the Hon’ble NCLT.

25. Disclosure of significant accounting judgements, estimates and assumptions

The preparation of the Company's financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingentliabilities. Uncertainty about these assumptions and estimates could result
in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Estimates and assumptions

The key assumptions concerning the future and other key sources ofestimation uncertainty at the reporting date, that have a significantrisk of causing a material adjustment
to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available
when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or
circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

(i) Income taxes

Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significan
managementjudgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits
together with future tax planning strategies.

To determine the future taxable profits, reference is made to the latest available profit forecasts. The Company is having unabsorbed depreciation and business losses that
may be used to offset taxable income.

Uncertainties exist with respect to the interpretation of tax provisions, changes in tax laws, and the amount and timing of future taxable income. Given that differences may
arise between the actual results and the assumptions made, or future changes to such assumptions and may necessitate future adjustments to tax income and expense already
recorded, the Company establishes provisions, based on reasonable estimates. The amount of such provisions is based on various factors, such as experience of previous tax
assessments and differing interpretations of tax provisions by the taxable entity and the tax authority.

(ii) Defined benefit plan (gratuity benefits)

The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined using actuarial valuations. An actuarial valuation involves making
various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates.
Due to the complexities involvedin the valuation and its long-termnature, a definedbenefit obligationis highly sensitive to changes in these assumptions. All assumptions are
reviewed at each reporting date.

The parameter most subject to change is the discount rate. In determining the appropriate discount rate for plans operated in India, the management considers the interest
rates of government bonds in currencies consistent with the currencies of the post-employment benefit obligation.

The mortality rate is based on mortality rates from Indian Assured Lives Mortality 2012-14. Those mortality tables tend to change only at interval in response to
demographic changes. Future salary increases and gratuity increases are based on expected future inflation rates.

(iii) Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is
measured using valuation techniques including the DCF model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a
degree of judgement is required in establishing fair values at each reporting date. Judgements include considerations of inputs such as liquidityrisk, credit risk and volatility.
Changes in assumptions about these factors could affect the reported fair value of financial instruments.

The Hon’ble National Company Law Tribunal (NCLT), Kolkata Benchvide its Order dated 11th February, 2022 (“Insolvency Commencement Date”) had initiated
the Corporate Insolvency Resolution Process (CIRP) of Eastern ("Company"/"ESIL") under the Insolvency and Bankruptcy Code,2016('IBC')

Pursuant to commencement of insolvency proceedings, with effect from 11th March, 2022, the powers of the board of directors of the Company stood suspended
and such powers along with the management of the Company were vesting with Mr. Ajay Kumar Agarwal, who was appointed as the Interim Resolution
Professional (‘IRP’) with respect to the Company.

Subsequently, in accordance with NCLT order dated 18th April, 2022, such powers and the management of the Company vested with Mr. Anup Singh (IP Reg. No.
IBBI/IPA-001/IP-P00153/2017-18/10322),appointed as the Resolution Professional (RP) with respect to the Company.

A resolution plan for the Company, as submitted by M/s Kundan Care Products Limited (‘Successful Resolution Applicant’ / ‘SRA’) was approved by the
Committee of Creditors of the Eastern Sugar & Industries Limited on 27th November, 2022 and an application was filed by the RP before the NCLT for approval
of the Resolution Plan. The Hon’ble NCLT vide its order pronounced on 04th October 2023 approved the Resolution Plan MA under Section 31 (1) of the
Insolvency and Bankruptcy Code, 2016.

Further the approved Resolution Plan provides that, “Upon approval of Resolution Plan by the Hon’bleNCLT, the existing Directors and KMP of the Company as
on Completion Date shall be deemed to have resigned without any additional approval from the shareholders and new Board of Directors was constituted on
27.02.2024 including requisite committees.”

Furthermore, the approved Resolution Plan also provides the reduction of Existing Share Capital by cancellation of share of existing promoters and allotment of
new shares to the Resolution Applicant and its nominee/associates and reduction in Face Value of Share from Rs. 10/- to Rs. 1/-.

Necessary restructuring entries are passed in books of accounts in the previous year pursuant to approval ofresolution plan, but issuance of share capital to public
and promotors is in process as ondate of signing of financial statement.

An application for the listing of the newly allotted shares and the approval of capital reduction is currently pending with the Stock Exchange, dated June 22, 2024.

29 FINANCIAL RISK MANAGEMENT OBJECTIVE AND POLICIES:

The Company’s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables and advances from Customers. The
Company’s principal financial assets include Investment, loans and advances, trade and other receivables and cash and bank balances that derive directly from its
operations. The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks. The
Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial assets will fluctuate because of changes in market prices. Market risk comprises three
types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial Assets affected by market risk include
loans and borrowings, deposits and derivative financial instruments.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The
Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s long-term debt obligations with floating interest rates.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company’s
exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s operating activities (when revenue or expense is denominated in a
foreign currency).

Credit Risk

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is
exposed to credit risk from its operating activities (primarily trade receivables).

Trade Receivables

Customer credit risk is managed by each business unit subject to the Company’s established policy, procedures and control relating to customer credit risk
management. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date on an individual basis for
major clients.

Financial Instruments and Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the Company’s treasury department in accordance with the Company’s policy.
Investments of surplus funds are made only with approved authorities. Credit limits of all authorities are reviewed by the Management on regular basis.

Liquidity Risk

Liquidity risk is the risk that the Company will encounter in meeting the obligations associated with its financial liabilities that are settled by delivering cash or
another financial asset. The approach of the Company to manage liquidity is to ensure, as far as possible, that these will have sufficient liquidity to meet their
respective liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risk damage to their reputation.

The Company monitors its risk of a shortage of funds through fund management exercise at regular intervals.

The table below summarises the maturity profile of the Company’s financial liabilities based on contractual undiscounted principal payments.

No change were made in the objectives,policies or process for managing capital during the years ended March 31,2025 and
March 31,2024

32 Post Reporting Events

No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation.

33 The Board of director of the company is chief operating desicion maker (CODM) monitors the operating result of the company.
CODM has identified only one repotable segment as the company is primarily involved in trading of precious metals. The
operations of the Company are located in India.

34 There is no contingent liability as on March 31,2025 and March 31,2024.

35 In the opinion of the Board, the current assets are approximately of the value stated, if realised in the ordinary course of
business. The provision for all known liabilities are adequate and not in excess of amount reasonably necessary.

38 Other statutory informations :

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

(ii) The Company do not have any transactions with struck off companies under Section 248 of the Companies
Act, 2013 or Section 560 of Companies Act, 1956.

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

(iv) The Company has not traded or invested in Cryptocurrency or Virtual Currency during the financial year.

(v) The Company has not advanced or loaned or invested funds to any other person or entity, 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.

(vi) The Company has not received any fund from any person or entity, 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.

(vii) The Company has not any such transaction which is 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
(such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).any other relevant
provisions of the Income Tax Act, 1961).

(viii) The Company has not been declared a willful defaulter by any bank or financial institution or other lender
(as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on
willful defaulters issued by the Reserve Bank of India.

(ix) The Company is in compliance with the number of layers prescribed under clause (87) of Section 2 of the
Companies Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(x) As on March 31, 2025, there is no unutilised amounts in respect of any issue of securities and long term
borrowings from banks and financial institutions. The borrowed funds have been utilised for the specific
purpose for which the funds were raised

(xi) Provision of Section 135 of the Companies Act 2013 related to Corporate Social Responsibility is not
applicable to the company.

For Ashwani & Associates For and on Behalf of Board of Directors

Chartered Accountants Kundan Minerals and Metals Limited

Firm Registration No . 000497N

Sanjeeva Narayan Vidit Garg Deepak Gupta

Partner Director and CEO Director and CFO

Membership No. 084205 Din: 02790545 Din: 06643918

Sonica Verma

Place : New Delhi Company Secretary

Date: 30 May 2025 M N: A59149