As at       As at
                                        31st March, 2011   31st March, 
                                               Rupees       2010
                                                           Rupees 
 
 1.  Contingent liabilities not provided for
 
 a.  Guarantees given by banks on behalf of 
 the Company                              100,89,36,378  132,92,82,799
 
 b.  Corporate Guarantee given by the 
 Company to Banks on behalf of subsidiaries 
 of Company''s foreign subsidiary:        2023,22,66,600 2166,78,53,600
 
 c.  Capital commitments not provided 
     for                                    6,32,39,655    8,18,32,091
 
 d.  Indemnity obligation relating to a
     Novation Agreement                         -            75,00,000
 
 e.  Letter of Credit                           -          1,62,56,392
 
 12. Related Party disclosure:
 
 Enterprise where control exists
 
 A.  Subsidiary Companies (Wholly owned subsidiaries)
 
 Aban Energies Limited, India Aban Holdings Pte Ltd, Singapore
 
 B.  Subsidiaries of Aban Holdings Pte Ltd
 
 Aban Singapore Pte Ltd, Singapore Aban 7 Pte Ltd, Singapore Aban 8 Pte
 Ltd, Singapore Aban Abraham Pte Ltd, Singpore Aban Pearl Pte
 Ltd,Singapore Aban International Norway AS Sinvest AS, Norway DDI
 Holding AS Norway Deep Drilling Invest Pte Ltd, Singapore Deep Drilling
 1 Pte Ltd, Singapore Deep Drilling 2 Pte Ltd, Singapore Deep Drilling 3
 Pte Ltd, Singapore Deep Drilling 4 Pte Ltd, Singapore Deep Drilling 5
 Pte Ltd, Singapore Deep Drilling 6 Pte Ltd, Singapore Deep Drilling 7
 Pte Ltd, Singapore Deep Drilling 8 Pte Ltd, Singapore Beta Drilling Pte
 Ltd , Singapore Venture Drilling Pte. Ltd, Singapore
 
 C.  Other related parties with whom the company had transactions
 
 a.  Key Management personnel
 
 (i) Mr. Reji Abraham - Managing Director
 
 (ii) Mr. P Venkateswaran - Deputy Managing Director
 
 (iii) Mr. C P Gopalkrishnan - Deputy Managing Director and Secretary
 
 13. SEGMENT REPORTING
 
 A.  Primary Segment
 
 The Company''s primary segments are Offshore Oil Drilling and Production
 services (''Drilling'') and Wind Power generation (''Wind Energy'') The
 above business segments have been identified considering the nature of
 services rendered and the internal financial reporting system. Income
 and Expenses have been accounted for based on their relationship to the
 operating activities of the segment
 
 B.  Secondary Segment
 
 Substantial Assets of the Company are Rigs/Drillship, which are mobile
 assets and can operate across the world, in view of which geographical
 segment is not considered.
 
 15. Loans and Advances include loan to a Deputy Managing Director of
 the Company who was an officer at the time of taking the loan NIL
 (Previous year Rs.3,75,000/-). Maximum amount outstanding during the
 the year Rs. 3,75,000/- (Previous Year Rs.9,15,000/-).
 
 17.  The Company has instituted Employees Stock Option Scheme - 2005
 duly approved by the shareholders in the Extra ordinary General Meeting
 of the Company held on 23rd April 2005. As per the scheme, the
 compensation committee of the board evaluates the performance and other
 criteria of employees and approves the grant of option. These options
 vest with employees over a specified period subject to fulfillment of
 certain conditions. Upon vesting, employees are eligible to apply and
 secure allotment of Company''s share at the prevailing market price on
 the date of grant of option.
 
 The Securities Exchange Board of India (SEBI) issued the Employees
 Stock Option Scheme and Employees Stock purchase scheme Guidelines in
 1999, applicable to stock option schemes established on or after 19th
 June 1999. Under these Guidelines, the excess of the market price of
 the underlying equity shares as of the date of the grant over the
 excercise price of the option is to be recognised and amortised on a
 straight-line basis over the vesting period.
 
 The Company has not recorded any Deferred Compensation Expenses, as the
 exercise price was equal to the market value as defined by SEBI of the
 underlying Equity Shares on the grant date. Excess of exercise price
 over the nominal value of equity shares allotted during the year under
 ESOS has been credited to securities premium account Rs.82,10,731/-
 (Previous year Rs.74,32,967/-)
 
 The details of option granted are given below:
 
 Maximum number of options that may be granted under the scheme is
 18,44,000 equity shares of Rs.2/- each - Options granted during the
 year NIL Equity Shares of Rs.2/- each (upto Previous Year: 4,43,200
 Equity Shares of Rs.2/- each) - Options lapsed during the year 16,320
 Equity Shares of Rs.2/- each (Upto Previous Year: 23,890 Equity Shares
 of Rs.2/- each) - Options exercised during the year: 13,740 Equity
 Shares of Rs.2/- each (upto Previous Year: 81,390 Equity Shares of
 Rs.2/- each) Outstanding at the end of the year: 3,07,860 Equity Shares
 of Rs.2/- each (upto Previous Year: 3,37,920 Equity Shares of Rs.2/-
 each), Options yet to be granted under the scheme: 14,41,010 Equity
 Shares of Rs.2/- each (Previous year: 14,24,690/- Equity Shares of of
 Rs.2/- each).
 
 18.  The Company had issued 1161 un secured unrated zero coupon Foreign
 currency convertible bonds (FCCB) of Japanese Yen 10,000,000 each
 aggregating to Japanese Yen 11,610,000,000 (Rs.428,49,22,220/-) in
 April 2006. The Bondholder has an option to convert these bonds into
 Equity shares of Rs.2/- each of the Company at a conversion price on or
 after 19th April 2007 and upto the close of the business on the 8th
 April 2011. The conversion price has been fixed as Rs.2,789.04 per
 Equity shares of Rs.2/- each. Untill 31st March 2011, 620 Bonds
 aggregating to Japanese Yen 6200 million have been converted into
 8,51,055 Equity shares of Rs.2/- each at a conversion price of
 Rs.2,789.04. After conversion, 541 Bonds are outstanding as at 31st
 March, 2011 aggregating to 5410 Million Japanese Yen
 (Rs.290,10,98,865). The Company has an option to redeem the bonds at
 their accredited principal amount in whole and not in part at any time
 on or after 14th April 2009 and on or prior to 8th April 2011 subject
 to certain terms and conditions. No interest accrues or is payable on
 the bonds unless willful default is made in respect of any payment in
 which case the overdue sum shall bear interest at the rate of 4% per
 annum from the due date. Unless previously redeemed, converted or
 repurchased and cancelled, the Company will redeem each bond at
 121.811% of its principal amount on 15th April 2011, being the Maturity
 date of the Bond.
 
 The Company has since redeemed the outstanding 541 Bonds on 15th April
 2011 at 121.811% of the principal amount.
 
 2.  There are no Micro, Small and Medium Enterprises to whom the
 Company owes dues, which are outstanding for more than 45 days at the
 balance sheet date. The information regarding Micro, Small and Medium
 Enterprises has been determined to the extent such parties have been
 identified on the basis of data available with the Company.
 
 3.  Audit fees include Rs. NIL for special purpose Audit carried out
 towards investments in shares/loans to foreign subsidiaries.  (Previous
 year Rs.8,00,000/-)
 
 4.  Previous year''s figures are re-grouped/re-arranged wherever
 necessary to conform to the current year''s presentation.