1.  Contingent liabilities not provided for in respect of:
 
                                                          (Rs. in Crores)
 
 particulars                              As at 31st       As at 31st
 
                                         March, 2011       March,2010
 
 Guarantees issued by the Companys 
 bankers on behalf of the Company             694.54          511.38
 
 Letter of Credit facilities provided by 
 banks                                        836.29        1,712.85
 
 Bonds submitted to Development Commissioner 
 on behalf of Government of                 3,860.94        3,771.42 
 India
 
 2.  Capital Commitments not provided for are estimated at Rs. 4,507.27
 Crores (31st March, 2010 – Rs. 7,302.69 Crores)
 
 3.  The Government of India (GOI) has, vide its letter dated 19th
 December, 2006, granted approval to the Companys proposal for
 development, operation and maintenance of the sector specifc Special
 Economic Zone (SEZ) for power over an area of 293-88-10 hectares of the
 Companys land at Village: Tunda & Siracha, Taluka Mundra, Gujarat. In
 view thereof, all the benefts available to SEZ developer under Special
 Economic Zones Act, 2005 and Special Economic Zones Rules, 2006 and
 amendment made there under are available to the Company.
 
 4.  The Government of India has levied Customs Duty of Rs. 100 per 1000
 kwh on Electrical Energy removed from Special Economic Zone to Domestic
 Tariff Area vide notifcation dated 6th September, 2010. In accordance
 with the provisions of the Power Purchase Agreement (PPA), impact of
 any change in law which becomes effective subsequent to Bid Deadline is
 allowed to be recovered from the Procurer with approval of appropriate
 Regulatory Commission. The Company has already applied to Gujarat
 Electricity Regulatory Commission (GERC) for approval of necessary
 adjustment of tariff on account of levy of the said Custom Duty and the
 same is expected to be approved shortly. Accordingly, in view of the
 Companys entitlement to claim such revenue, as per the provisions of
 the PPA, the Company has recognized the revenue of Rs.42.75 Crores in the
 current year.
 
 5.  During the year, the Companys Power Generating Units of 1320 MW
 (Previous Year – 660 MW) commenced commercial operations resulting into
 total power generating capacity to 1980 MW.
 
 6.  Total number of electricity units sold during the year 6769.40 MUs
 (Previous Year – 1172.10 MUs)
 
 7.  There are no Micro, Small and Medium Enterprises, to whom the
 Company owes dues, which are outstanding as at the Balance Sheet date.
 The above information has been determined to the extent such parties
 have been identifed on the basis of information available with the
 Company. This has been relied upon by the auditors.
 
 8.  The Company entered into an agreement (PPA) dated 2nd February,
 2007 with Gujarat Urja Vikas Nigam Limited (GUVNL) for supply of Power
 on long-term basis subject to certain conditions to be complied within
 stipulated time. Amongst others, one of the conditions was pertaining
 to tie-up of fuel supply based on coal to be provided by Gujarat
 Mineral Development Corporation (GMDC). This agreement did not
 materialize.  Consequent to the same, the Company had terminated the
 PPA and has offered to pay the liquidated damages.  However, GUVNL has
 contested the termination and approached Gujarat Energy Regulatory
 Commission (GERC) to resolve the matter. GERC held that the agreement
 cannot be terminated. Against the decision of GERC, the Company fled an
 appeal before Appellate Tribunal for Electricity (APTEL). Pending the
 matter before APTEL and being sub-judice, no effect has been given in
 these fnancial statements.
 
 9. The Company is engaged in power generation and setting up of power
 project. These, in the context of Accounting Standard 17 on Segment
 Reporting, as specifed in the Companies (Accounting Standard) Rules,
 2006, are considered to constitute one single primary segment. There is
 no reportable secondary segment i.e. geographical Segment.
 
 10. The Company operates a defned beneft plan (the gratuity plan)
 covering eligible employees, which provides a lump sum payment to
 vested employees on retirement, death, incapacitation or termination of
 employment, of an amount based on the respective employees salary and
 the tenure of employment.
 
 The Company has defned beneft plans for Gratuity to eligible employees.
 The contributions for which are made to Life Insurance Corporation of
 India who invests the funds as per Insurance Regulatory Development
 Authority guidelines.
 
 11.  Related party disclosures as required by Accounting Standard – 18
 issued by the Institute of Chartered Accountants of India:- (a) List of
 Related Parties and Relationship (I) Related Parties where control
 exists
 
 Subsidiaries/ Step down subsidiaries : Adani Power Maharashtra Ltd.
 
 Adani Power Dahej Ltd.
 
 Adani Power Rajasthan Ltd.
 
 Adani Pench Power Ltd.
 
 Adani Power (Overseas) Ltd.
 
 Mundra Power SEZ Ltd.
 
 Kutchh Power Generation Ltd.
 
 Adani Shipping PTE Ltd.
 
 Adani Power PTE Ltd.
 
 Rahi Shipping PTE Ltd.
 
 Vanshi Shipping PTE Ltd.
 
 (II)   Other related parties
 
 (i) Holding Company : Adani Enterprises Ltd.
 
 (ii) Fellow Subsidiaries : Adani Infrastructure and Developers Pvt.
 Ltd.
 
 Adani Mundra SEZ Infrastructure Pvt. Ltd.
 
 Adani Mining Pvt. Ltd.
 
 Adani Gas Ltd.
 
 Chemoil Adani Pvt. Ltd.
 
 Adani Infra (India) Ltd.
 
 Mundra Port & Special Economic Zone Ltd.
 
 Karnavati Aviation Pvt. Ltd.
 
 Adani Global PTE Ltd.
 
 Adani Global FZE
 
 (iii) Other Parties which are significantly influenced by the Company
 (either individually or with other)
 
 : Adani Wilmar Ltd.
 
 Adani Properties Pvt. Ltd.  Adani Renewable Energy LLP Shanti Builders
 - Partnership Firm Adani Infrastructure Service Pvt. Ltd.
 
 (III) Key Management Personnel
 
 : Mr. Gautam S. Adani (Chairman)
 
 Mr. Rajesh S. Adani (Managing Director)
 
 Mr. Ameet H. Desai (Executive Director)
 
 (upto 30th March, 2011)
 
 Mr. Ravi Sharma (Whole-Time Director and CEO)
 
 (from 8th February, 2011)
 
 12.  Previous year figures have been regrouped and rearranged wherever
 necessary to confirm to this years classification.