అకౌంట్స్ గమనికలుMax Earth Resources Ltd.

Mar 31, 2025

L. Provisions, contingent liabilities, and contingent assets:

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as
a result of past events, and it is probable that there will be an outflow of resources. Provision is not discounted to its present
value, and it is determined based on the best estimate required to settle on obligation at the year end. These are reviewed
every year end and adjusted to reflect the best current estimate.

Contingent liabilities are not recognized but are disclosed in the financial statements.

M. Research and development expenditure:

Research and development expenditure is charged to revenue is under to respective heads of account in the year in which
it is incurred. However, development expenditure qualifying as an intangible asset, if any is capitalized, to be amortized over
the economic life of the product / patent. Research and development expenditure on fixed assets is treated in the same way
as expenditure on other fixed assets.

N. Employee benefits:

i) Gratuity:

The Payment of Gratuity Act, 1972, is applicable to the Company. The employees have completed the eligible years of
service, but no provision has been made as required under the relevant gratuity act.

ii) Bonus & Leave Encashment

Bonus & leave encashment, to the extent accrued & payable to eligible employees is settled on year-to-year basis.

iii) Provident Fund / ESIC:

The Provisions and Payment of Provident Fund/ESIC, wherever applicable, as required by the prescribed acts has been
properly complied with by the company.

O. Taxation:

• Income tax expense comprises current tax and deferred tax charge or credit. Provision for current tax is made on the
basis of the assessable income at the tax rate applicable to the relevant assessment year.

• MAT credit is recognized as an asset only when and to the extent there is convincing evidence that the Company will
pay normal income tax within the specified period.

• Deferred Tax asset and deferred tax liability are calculated by applying tax rate and tax laws that have been enacted or
substantively enacted by the Balance Sheet date. Deferred tax assets on account of timing differences are recognized,
only to the extent there is a reasonable certainty of its realization. Deferred tax assets are reviewed at each Balance
Sheet date to reassure realization.

• Deferred tax assets, representing unabsorbed depreciation or carried forward losses are recognized, if and only if there
is virtual certainty supported by convincing evidence that there will be adequate future taxable income against which
such deferred tax assets can be realized.

P. Government Grants:

• No government grant has been received.

Q. Cash and Cash Equivalent:

In the cash flow statement, cash and cash equivalent includes cash in hand, demand deposits with banks and short tern highly
liquid investments with original maturities of three months or less.

R. Earnings per Share:

Earnings per share (EPS) is calculated by dividing the net profit or loss for the period attributable to Equity Shareholders by
the weighted average number of equity Shares of outstanding during the period. Earnings considered in ascertaining the EPS
is the net profit for the period and any attributable tax there to for the period.

I. Notes to financial statements

A. Corporate Information:

• The Company is a "public limited", within the meaning of section 3(1)(iv) of the Companies Act, 1956 (No. 1 of 1956) & was
incorporated in India on 16/01/2004 under the Companies Act, 1956 (No. 1 of 1956) and is registered in India under the
jurisdiction of ROC, Mumbai, Maharashtra.

• The Corporate Identity number of the Company is: L74999MH2004PLC144034.

• The Registered office of the Company is presently located at MAX EARTH RESOURCES LIMITED (Formerly known as MAX
ALERT SYSTEMS LIMITED) ,103, Wellington Business Park -1, Hasan Pada Road, Marol, Andheri (East) Mumbai - 400 059.

B. Disclosure under AS 28:

During the year under review the of the company has recognised no impairment loss. There was no revaluation reserve created
by the company and the said impairment loss is treated as expense and debited to profit and loss account. The main reason
for recognising impairment are physical damage of the assets and discontinuity of operations over years. Furthermore, the
company has also cannibalised the parts of crusher which were in working condition and used in the other crusher.

The discrepancies in physical verification of assets are also recognised as impairment loss in profit and loss account.

F. Going Concern:

Company has an accumulated loss of Rs. 1692.70 Lakhs (Previous Year Rs. 2017.32 Lakhs) as of March 31, 2025. The financial
statements have been prepared on going concern basis which assumes that the shareholders will continue to support all the
financial related activities of the Company. Management is not aware of any uncertainties that may cast significant doubt
upon the Company''s ability to continue as going concern basis.

M. Employees Benefits:

i) Defined contribution plans: The Company''s contribution to Provident Fund and ESIC for the year 2024-2025 aggregating
to Rs.0.00 Lakhs (Previous Year: Rs. 0.00 Lakhs) and Rs. 0.00 Lakhs (Previous Year: Rs. 0.00 Lakhs) respectively has
been recognised in the statement of profit and loss under the head employee benefits expense.

ii) Defined benefit plans: Gratuity Plan: The Company does not make annual contribution to the Employee''s Company
Gratuity Assurance Scheme. During the year, provision of Gratuity Liability is not made (Amount uncertain)

U. Other Information

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

ii. The Company does not have any transactions with companies struck off.

iii. The Company does not have any secured borrowings; hence registration of charges or satisfaction is not applicable.

iv. The Company has not traded or invested in Crypto currency or Virtual Currency during the year.

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

vii. The Company does not have 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.

viii. Submission of quarterly return or statement is not applicable as the company does not have borrowings from Banks or
financial institutions.

V. The Financial Statements were authorised for issue by the directors on 07^th August 2024

For MAX EARTH RESOURCES LIMITED For S C Mehra & Associates LLP

(Formerly known as MAX ALERT SYSTEMS LIMITED) Chartered Accountants

Firm Regn No. 106156W/W100305

Amit Vengiat Abhilash K Sasi CA Ajit Sharma

Director Director Partner

DIN No.: 07544088 DIN No.: 06717763 M. No. 114934

Place: Mumbai

Place: Mumbai Date: 30May2025

Date: May 30, 2025 UDIN : 25114934BMKNUI7494

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Mar 31, 2024

L. Provisions, contingent liabilities, and contingent assets:

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation
as a result of past events, and it is probable that there will be an outflow of resources. Provision is not discounted to its
present value, and it is determined based on the best estimate required to settle on obligation at the year end. These
are reviewed every year end and adjusted to reflect the best current estimate.

Contingent liabilities are not recognized but are disclosed in the financial statements.

M. Research and development expenditure:

Research and development expenditure is charged to revenue is under to respective heads of account in the year in
which it is incurred. However, development expenditure qualifying as an intangible asset, if any is capitalized, to be
amortized over the economic life of the product / patent. Research and development expenditure on fixed assets is
treated in the same way as expenditure on other fixed assets.

N. Employee benefits:

i) Gratuity:

The Payment of Gratuity Act, 1972, is applicable to the Company. The employees have completed the eligible years
of service, but no provision has been made as required under the relevant gratuity act.

ii) Bonus & Leave Encashment

Bonus & leave encashment, to the extent accrued & payable to eligible employees is settled on year-to-year basis.

iii) Provident Fund / ESIC:

The Provisions and Payment of Provident Fund/ESIC, wherever applicable, as required by the prescribed acts has
been properly complied with by the company.

O. Taxation:

• Income tax expense comprises current tax and deferred tax charge or credit. Provision for current tax is made on
the basis of the assessable income at the tax rate applicable to the relevant assessment year.

• MAT credit is recognized as an asset only when and to the extent there is convincing evidence that the Company will
pay normal income tax within the specified period.

• Deferred Tax asset and deferred tax liability are calculated by applying tax rate and tax laws that have been enacted
or substantively enacted by the Balance Sheet date. Deferred tax assets on account of timing differences are
recognized, only to the extent there is a reasonable certainty of its realization. Deferred tax assets are reviewed at
each Balance Sheet date to reassure realization.

• Deferred tax assets, representing unabsorbed depreciation or carried forward losses are recognized, if and only
if there is virtual certainty supported by convincing evidence that there will be adequate future taxable income
against which such deferred tax assets can be realized.

P. Government Grants:

• No government grant has been received.

Q. Cash and Cash Equivalent:

In the cash flow statement, cash and cash equivalent includes cash in hand, demand deposits with banks and short tern
highly liquid investments with original maturities of three months or less.

R. Earnings per Share:

Earnings per share (EPS) is calculated by dividing the net profit or loss for the period attributable to Equity Shareholders
by the weighted average number of equity Shares of outstanding during the period. Earnings considered in ascertaining
the EPS is the net profit for the period and any attributable tax there to for the period.

II. Notes to financial statements

A. Corporate Information:

• The Company is a "public limited”, within the meaning of section 3(1)(iv) of the Companies Act, 1956 (No. 1 of 1956)
& was incorporated in India on 16/01/2004 under the Companies Act, 1956 (No. 1 of 1956) and is registered in India
under the jurisdiction of ROC, Mumbai, Maharashtra.

• The Corporate Identity number of the Company is: L74999MH2004PLC144034.

• The Registered office of the Company is presently located at 502, 5^th Floor, Timmy Arcade, Makwana Road, Marol,
Andheri (E), Mumbai, Maharashtra - 400059.

B. The company was undergoing Corporate Resolution Process (CIRP) as per NCLT Order dated 24^th Aug, 2021. Pursuant
to the commencement of the corporate insolvency resolution process (''CIRP'') in August 2021, in the year 2023-24
the National Company Law Tribunal (NCLT) vide its order dated 07^th February 2024 had approved the resolution plan
submitted by M/s. Astra Ventures under Section 31 of the Insolvency and Bankruptcy Code, 2016 (''IBC''). This approved

resolution plan was binding on the Company, its employees, members, creditors, guarantors and other stakeholders
involved in the resolution plan.

In the year 2023-24, the Company had commenced the implementation of the steps as required by the approved
resolution plan vis a vis pay-outs of various CIRP costs and dues to workmen / employees, financial and operational
creditors; assignment of debt to resolution applicants; reduction of capital etc.

In the year 2023-24, the Company has completed the remaining steps as laid down in order of the resolution plan and
the resolution applicants has obtained control over the Company and the Board of Directors have been re-constituted
on March 26, 2024, being the closing date as determined by the Company in terms of the resolution plan. As per the
approved resolution plan:

a. Issued, Subscribed and Paid-up share capital is '' 9,19,95,000/- comprising of 91,99,500 number of equity shares of
'' 10 each. The Resolution Plan proposes to reduce the shareholding of each shareholder in the ratio 1:10 such that
the total number of equity shares shall be reduced to 9,19,950 amounting to '' 91,99,500/-. Further, the Authorized
Share Capital shall be increased from '' 10,00,00,000/- to '' 20,00,00,000/- which shall be utilized by the Resolution
Applicant to subscribe equity and for issue of equity shares of the Corporate Debtor to the Identified Investors on
private placement basis. Accordingly, the Memorandum of Association shall be amended.

b. It is proposed that there shall be issue and allotment of 1,25,00,000 equity shares of face value of '' 10 to the
Resolution Applicant against the infusion of funds at '' 2 per share and allotment of '' 60,00,000 equity shares on
private placement basis to the Identified Investors against the funds infused in form of working capital. It is to be
noted that till March 31, 2024, The company has received '' 1,64,00,000 from the resolution applicants towards
share application money.

c. It is submitted that pursuant to the order of approval of Resolution Plan by this Tribunal, any debit or credit, being
the balancing figure, arising as a result of giving effect to this Resolution Plan, will be adjusted appropriately by
the Corporate Debtor/ Resolution Applicant in the capital reserve at its sole discretion in compliance with the

applicable accounting standards

C. Disclosure under AS 28:

During the year under review the of the company has recognised no impairment loss. There was no revaluation reserve
created by the company and the said impairment loss is treated as expense and debited to profit and loss account. The
main reason for recognising impairment are physical damage of the assets and discontinuity of operations over years.
Furthermore, the company has also cannibalised the parts of crusher which were in working condition and used in the
other crusher.

The discrepancies in physical verification of assets are also recognised as impairment loss in profit and loss account.

a. Company has an accumulated loss of '' 2017.32 Lakhs as of March 31, 2024. Due to NCLT order Capital Reserve
increased during the year to '' 1478.24 Lakhs, earlier year balance of Share Premium of '' 400.20 Lakhs, Share
Capital as at 31 March 2024''92.00 Lakh and Share application money of '' 164.00 Lakhs received during the year
are exceeding by '' 117.11 Lakhs are more than accumulated Losses

Based on above development, The financial statements have been prepared on going concern basis which assumes
that the management will continue to support all the financial related activities of the Company. Management is
not aware of any uncertainties that may cast significant doubt upon the Company''s ability to continue as going
concern basis.

b. Statutory Compliance with respect TDS is under process for the quarter ended 31 Mar 2024 are pending. TDS dues
as per income tax site are subject reconciliation.

c. Balances in the accounts of Trade payables are subject to confirmation / reconciliation. The management does not
expect any material adjustment in respect of the same effecting the financial statements on such reconciliation
/ adjustments.

d. Enhancement to internal controls is in the process of implementation to address the deficiencies identified in the
Internal Control System considering the size and nature of business.

F. Going Concern:

The Loss of the company is '' 82.24 Lakhs during the year (Previous year '' 40.86 Lakhs). Company has an accumulated
loss of '' 2017.32 Lakhs as of March 31, 2024. The financial statements have been prepared on going concern basis which
assumes that the shareholders will continue to support all the financial related activities of the Company. Management
is not aware of any uncertainties that may cast significant doubt upon the Company''s ability to continue as going
concern basis.

R. Other Information

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

ii. The Company does not have any transactions with companies struck off.

iii. The Company does not have any secured borrowings; hence registration of charges or satisfaction is not applicable.

iv. The Company has not traded or invested in Crypto currency or Virtual Currency during the year.

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

vii. The Company does not have 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.

viii. Submission of quarterly return or statement is not applicable as the company does not have borrowings from
Banks or financial institutions.

S. The Financial Statements were authorised for issue by the directors on 07th August 2024

For Max Alert Systems Limited For S C Mehra & Associates LLP

Chartered Accountants
Firm Regn No. 106156W/W100305

Amit vengilat Abhilash K Sasi CA Ajit Sharma

Director Director Partner

DIN No.: 07544088 DIN No.: 06717763 M. No. 114934

Place: Mumbai

Place: Mumbai Date: 25 May 2024

Date: 25 May 2024 UDIN : 24114934BKBOBU5629

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Mar 31, 2012

1. Information pursuant to paragraph 4c of part II of Schedule VI to the Companies Act.1956

As explained to us as the company deals in various types of installation commissioning charges erection of Telecom projects and are accounted on completion of sale / installation and completion of projects, it is impracticable to give quantitative details. Therefore the same are not given.

Other Miscellaneous:-

A) In the opinion of the Board of Directors current assets loans and advance are approximately of the value stated, if realized in the ordinary course of business. Provision of all liabilities is adequate and not in excess of the amount considered reasonably necessary however the balance in personal account in subject to confirmation.

B) The closing stocks have been accepted as valued, verified and certified by the management.

C) In respect of some of the expenses in absence of supporting evidence the vouchers as signed by the payee and /or management are relied upon.

D) Figures have been rounded off to the nearest Rupees and previous Year figure are regrouped and /or reclassified wherever necessary.