1.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs.2,586,391/- (Previous Year
 Rs.541,680/-) net of advances.
 
 2.  Contingent liabilities not provided for in respect of:
 
 (a) Claims against the Company not acknowledged as debts Rs.6,524,488/-
 (Previous Year Rs.5,603,834/-).
 
 (c) The Company had given a Corporate Guarantee of Rs.83,640,000/- in
 earlier years on behalf of its then subsidiary Company M/s. Advani
 Pleasure Cruise Company Private Limited to Bank of Baroda, Mumbai,
 which was 51% of the sanctioned loan amount of Rs. 164,000,000/-
 (Previous Year Rs. 164,000,000/-). The above Corporate Guarantee has
 been extinguished during the year.
 
 (d) Demand raised by Income Tax authorities disputed by the Company in
 appeal and rectification proceedings, which are pending -
 Rs.2,578,815/- (Previous Year Rs.1,065,815/-).
 
 (e) Demand raised by Sales Tax authorities, disputed by the Company in
 appeal, which are pending amounting to Rs. 1,215,646/- (Previous Year
 Rs.1,215,646/-).
 
 (f) Demand raised by Entertainment Tax Authorities, disputed by the
 Company in appeal, which are pending amounting to Rs.43,180/- (Previous
 Year Rs.43,180/-).
 
 (g) Certain employees of the Company''s flight catering unit i.e.
 Airport Plaza, which is sold in earlier year have demanded higher wages
 with effect from August 01, 2006. The matter is pending in the Labour
 Court. Pending disposal of the matter, no provision has been made for
 the additional wages, as the amount is indeterminate.
 
 3. There are no Micro and Small Enterprises, to whom the Company owes
 dues, which are outstanding for more than 45 days as at March 31, 2011.
 This is information as required to be disclosed under The Micro, Small
 and Medium Enterprises Development Act, 2006 (the Act) has been
 determined to the extent such parties have been identified on the basis
 of information available with the Company.
 
 4.  The Unclaimed dividend for the year 2005-06, 2006-07, 2007-08 and
 2009-10 aggregating to Rs.646,686/- (Previous Year Rs. 655,741/-) will
 be deposited at the appropriate time as and when applicable.
 
 5.  (a) Current Assets, Loans and Advances (Schedule G) include Rs
 NIL (Previous Year Rs. 91,045,154/-) due from theerstwhile Subsidiary 
 Company, viz. Advani Pleasure Cruise Company Private Limited, out of 
 which Rs. NIL (Previous Year Rs. 25,452,377/-) is considered doubtful 
 and provided for.
 
 (c) Cash and Bank balances (Schedule G) includes Rs.129,056/-
 (Previous year Rs.129,056/-) with Priyadarshini Mahila Co-op. Bank
 Limited on Current Account. Maximum balance Rs.129,056/- (Previous Year
 Rs. 129,112/-).
 
 6.  As the turnover of the Company includes sale of food and beverage,
 it is not possible to give quantity-wise details of sale and
 consumption of food and beverage. The Department of Company Affairs
 vide its general exemption notification No. S.O.  301 (E) dated
 February 8, 2011 has exempted the Company from giving such details for
 the year ended March 31, 2011.
 
 7.  Segment Reporting under Accounting Standard 17:
 
 Hotel business is the Company''s only business segment and hence
 disclosure of segment-wise information is not applicable under
 Accounting Standard 17 - Segment Information.
 
 8.  The disclosures required under Accounting Standard 15 Employee
 Benefits notified in the Companies (Accounting Standards) Rules 2006,
 are given below.
 
 Defined Benefit Plan
 
 In respect of Employees'' Retiring Gratuity, the present value of
 obligation is determined based on actuarial valuation using the
 Projected Unit Credit Method, which recognises each period of service
 as giving rise to additional unit of employee benefit entitlement and
 measures each unit separately to build up the final obligation. The
 obligation for leave encashment is recognized on actuarial valuation
 basis.
 
 Other details:
 
 (i) Gratuity is payable @ 15 days salary for each year of service
 subject to a maximum of Rs. 1,000,000/- (Previous Year Rs. 350,000/-).
 
 (ii) Leave is encashable on retirement / while in service/ maximum 
 leave accumulation is as per Company''s scheme from time to time.  
 
 (iii) The above information is as certified by the Actuary.  
 
 (iv) Salary Escalation is considered as advised by the Company which 
 is in line with the industry practice considering promotion and demand 
 and supply of the employee.  
 
 (v) Number of employees (average) 180 (Previous year 188).  
 
 (vi) Salary per month - Rs. 2,724,677/-(Previous year Rs.1,968,047/-).  
 
 (vii) Contribution for next year - Rs. Nil (Previous year Rs. Nil).
 
 10.  Related Party Disclosures under Accounting Standard 18:
 
 (a) Subsidiary Company:
 
 (i) Advani Pleasure Cruise Company Private Limited (51%)
 (Ceased to be a subsidiary during the year w.e.f. September 20, 2010
 consequent to sale of Investments).
 
 (ii) Advani Flight Catering Service Private Limited (100%)
 (Company has applied to the Registrar of Companies, Goa for striking
 off its name from the Register of Companies and the final approval of
 dissolution is awaited).
 
 (b) Parties where control exists: None
 
 (c) Key Management Personnel:
 
 Mr. Sunder G. Advani   -  Chairman & Managing Director
 
 Mr. Haresh G. Advani   -  Executive Director
 
 Mr. Prahlad S. Advani  -  Vice President & Asset Manager - Relative
 
 (d) Other parties being relatives of Key Management Personnel with whom
 transactions have taken place during the year:
 
 Mrs. Menaka S. Advani     -  Director and Relative
 
 Mrs. Nina H. Advani       -  Relative
 
 Ms. Lalita S. Advani      -  Relative
 
 Mrs. Natasha Mirchandani  -  Relative
 
 Mr. Jihan H. Advani       -  Relative
 
 Mrs. Indira Thadani       -  Relative
 
 Mrs. Rukmani G. Advani    -  Relative
 
 Mrs. Sabrina D. Jhangiani -  Relative
 
 (e) Other related parties with whom transactions have taken place
 during the year: 
 
 Mr. K. Kannan          -  Non-executive Director
 
 Mr. Prakash V. Mehta   -  Non-executive Director
 
 Mr. Anil Harish        -  Non-executive Director
 
 M/s. D.M. Harish & Co., Advocates (A Partnership firm wherein Mr. Anil
 Harish is a Partner)
 
 M/s. Malvi Ranchoddas & Co. Solicitors & Advocates (A Partnership firm
 wherein Mr. Prakash V. Mehta is a Partner)
 
 Sunder Advani Investments Private Limited (A Company wherein Mr. Sunder
 G. Advani and Mrs. Menaka S. Advani are Directors).
 
 11. The Company has taken certain premises on operating lease. Hitherto
 the rentals were expensed out on straight line method.  On a review,
 the management has changed the basis of charging the rentals from
 straight line basis to with reference to lease terms and other
 considerations. The change has not impacted the profits of the current
 year. The aggregate lease rentals payable are charged as rent in the
 Profit and Loss Account.
 
 12. Additional information pursuant to the provisions of paragraphs 3
 and 4 of Part - II and Part - IV of Schedule VI to the Companies Act,
 1956 are given as under to the extent applicable:
 
 Notes:
 
 (a) The above Managerial Remuneration has been paid / provided in
 accordance with the resolutions approved by the shareholders of the
 Company in the Annual General Meeting held on September 26, 2007 read
 with the resolution passed by the Board of Directors in their meeting
 held on May 7, 2010. However, in view of inadequacy of profits for the
 year under consideration, the above remuneration exceeds the limits
 prescribed under the Companies Act, 1956 by Rs.5,008,490/- (Previous
 year Rs.5,007,200/-) and therefore, the Company is making an
 application to the Central Government for approval of waiver of the
 excess remuneration paid. Similar waiver for excess remuneration was
 approved by the Central Government vide approval dated January 20, 2011
 for CMD and approval dated March 15, 2011 for ED.
 
 (b) The above remuneration excludes provision for gratuity and leave
 availment since it is provided on an actuarial valuation of the
 Company''s liability to all its employees.
 
 (c) Since there is no commission paid or payable to the above
 managerial personnel in this year or previous year, computation of Net
 Profit under Section 198 (1) read with Section 349 of the Companies Act
 for the year ended March 31, 2011 is not applicable, hence not given.
 
 (d) Payments to and Provisions for Employees of Rs.86,600,090/-
 (Previous year Rs.76,407,4107-) include Rs.296,396/- (Previous year Rs.
 Nil) payable to Mr. Prahlad S. Advani, Asset Manager and a relative of
 the Directors, in respect of which the Company has made an application
 to the Central Government for approval under Section 314 (1-B) of the
 Companies Act, 1956, which is awaited.
 
 13. (a) During the year, the Company has sold its stake in its
 subsidiary viz. Advani Pleasure Cruise Company Private Limited (APCCPL)
 to Delta Corp Limited (the Acquirer) in terms of the Agreement dated
 September 20, 2010 at a consideration of Rs.24,501,000/-. In view of
 sale of shares as stated above, APCCPL is no longer a subsidiary of the
 Company with effect from September 20, 2010.
 
 (b) The Company''s other subsidiary Advani Flight Catering Services
 Private Limited, which had not commenced any business operations, has
 applied under the Easy Exit Scheme, 2011 to the Registrar of Companies,
 Goa for striking off its name under Section 560 of the Companies Act,
 1956 and the final approval of dissolution is awaited.
 
 (c) In terms of the Agreement for sale of shares referred to above, the
 Company had furnished a bank guarantee of Rs. 15,000,000/- to the
 Acquirer as and by way of security for the performance of its
 obligation to transfer the casino gaming license to APCCPL. The Company
 has fulfilled its obligation to transfer the casino gaming license
 after the close of the financial year and accordingly the bank
 guarantee of Rs. 15,000,000/- has since been cancelled.
 
 14.  Rent (Schedule J) includes Rs.7,800,000/- (Previous Rs. Nil) being
 amount deposited for Jetty Office equivalent to six months rent for the
 said Jetty office paid to Fisheries Dept., Government of Goa written
 off on pre-mature termination of leave and license agreement during the
 year. The aforesaid deposit is payable to the erstwhile subsidiary
 APCCPL in terms of the Share Purchase Agreement dated September 20,
 2010, which has since been paid after the close of the year.
 
 15.  Previous year''s figures have been recast / regrouped / rearranged,
 wherever necessary for comparison sake.