1.  Figures of the previous year have been reworked, regrouped,
 reclassified and rearranged to confirm with the figures of the current
 year.
 
 2.  Contingent liabilities not provided for in respect of:
 
 a.  There are certain disputed cases where appeal has been initiated
 with CIT/ ITAT (Appeals) on disallowance of Tax exemption U/S 80IB for
 For Assessment Year 2006 - 2007 assessed Rs. 1337.18 lacs as tax
 liability on total income of Rs.3016.88 lacs.
 
 b.  Income Tax Demand raised by authorities for the period 1988-1989 to
 1992 -1993 not accepted by the company amounting to Rs.2909 Lakhs.
 (Previous Year Rs.2909. Lakhs) the company has filed petition with the
 settlement commission under section 245 (C ) of the Income Tax
 Act,1961, Any Adjustment required would be accounted in the year in
 which final order is received.
 
 c.  Demand from Sales Tax Recovery Officer - Kolkatta forRs.1 Lakh
 (Previous Year Rs. 1 Lakh)
 
 d.  Suit filed against the Company not acknowledged as debts of Rs. 137
 Lakhs (Previous Year Rs. 137 Lakhs).
 
 e.  Liability that may arise on account of the Financial Institution
 (SICOM) exercising their right of recompense as per the Board for
 Industrial Financial Reconstruction (BIFR) Scheme.
 
 f.  Stamp Duty payable on account of reorganization/ reconstruction of
 the company is not yet determined as the same is pending for
 adjudication estimated at Rs.300 lacs.
 
 3.  Deferred Taxation:
 
 The Company has net Deferred Tax Assets ot Rs. 4234.69 Lakhs (Previous
 year Rs 4239.31 Lakhs) as on 31 st March 2011 on account of net MAT
 Credit till 31st March 2011. As a prudence policy the said Deferred Tax
 Assets has not been recognized which is in accordance with the
 Accounting Standard - 22 issued by the Institute of Chartered
 Accountants of India.
 
 4.  Employee Benefit
 
 Consequent to Revised Accounting Standards 15 (AS-15) Employee
 Benefits read with guidance note on implementation of AS-15 issued by
 Institute of Chartered Accountants of India, effective from April
 1,2007, the company has reviewed and revised its accounting policy in
 respect of employee benefits.
 
 5.  The Company primarily deals in the business of Real Estate and
 hence there is no Primary reportable segment in the context of
 Accounting Standard -17 issued by ICAI.
 
 6.  Related Party Disclosures:
 
 The related party and relationships, as identified by the Management
 and relied upon by the Auditors, with whom transactions have taken
 place during the year are:
 
 a.  List of related parties and their relationship:
 
 Name of the PartyRelationship
 
 A.G. Estate Private Limited Associate
 
 Ajmera Cement Private Limited Associate
 
 Ajmera Citi Developers Private Limited Associate
 
 Ajmera Estates (Karnataka) Private Limited Subsidiary
 
 Ajmera Housing Corporation Associate
 
 Ajmera Housing Corporation Banglore Associate
 
 Ajmera Mayfair Global Reality W.L.L Subsidiary
 
 Ajmera Realcon Private Limited Associate
 
 Ajmera Reality Private Limited Associate
 
 Ajmera Steel Stripes Limited Associate
 
 Ajmera Water N Amusement Park Private Limited Associate
 
 Bombay Freezco Private Limited Associate
 
 Jolly Brothers Private Limited Subsidiary
 
 Four Brothers Associate
 
 Kunnuj Investment Private Limited Associate
 
 Nilkanth Tech-Park Private Limited Associate
 
 Pramukh Development Corporation Associate
 
 Rushabh Investment Private Limited Associate
 
 Sankalp Holdings Private Ltd Associate
 
 Shree Precoated Steel Limited Associate
 
 Ultratech Property Developers Private Limited Subsidiary
 
 Vijay Nagar Appartment Associate
 
 Vijay Nagar Corporation Associate
 
 Yogi Nagar Vasahat Private Limited Associate
 
 b. Directors and their relatives:
 
 Name of the Party Relationship
 
 CHHOTALAL S. AJMERA DIRECTORS
 
 ISHWARLAL S. AJMERA DIRECTORS
 
 RAJNIKANT S. AJMERA DIRECTORS
 
 ATUL C. AJMERA HUF RELATIVE OF DIRECTORS
 
 BHOGILAL S. AJMERA RELATIVE OF DIRECTORS
 
 BINAL S. AJMERA RELATIVE OF DIRECTORS
 
 JYOTI N. AJMERA RELATIVE OF DIRECTORS
 
 SANJAY C. AJMERA RELATIVE OF DIRECTORS
 
 DHAVAL R. AJMERA RELATIVE OF DIRECTORS
 
 DHAVAL R. AJMERA HUF RELATIVE OF DIRECTORS
 
 ISHWARLAL S. AJMERA HUF RELATIVE OF DIRECTORS
 
 JAYANT I. AJMERA RELATIVE OF DIRECTORS
 
 JAYANT I. AJMERA HUF RELATIVE OF DIRECTORS
 
 MANOJ I. AJMERA HUF RELATIVE OF DIRECTORS
 
 MEGHA S. AJMERA RELATIVE OF DIRECTORS
 
 NATWARLAL S. AJMERA RELATIVE OF DIRECTORS
 
 NATWARLAL S. AJMERA HUF RELATIVE OF DIRECTORS
 
 RAJNIKANT S. AJMERA HUF RELATIVE OF DIRECTORS
 
 SANJAY C. AJMERA HUF RELATIVE OF DIRECTORS
 
 SONALI A. AJMERA RELATIVE OF DIRECTORS
 
 SURENDRA I. AJMERA HUF RELATIVE OF DIRECTORS
 
 TANVI M. AJMERA RELATIVE OF DIRECTORS
 
 7.  Disclosure under Micro, Small and Medium Enterprises Development
 Act, 2006:
 
 There are no delays in payment to Micro and Small enterprises as
 required to be disclosed under the Micro, Small and Medium Enterprises
 Development Act, 2006.
 
 The above information and that given in schedule 11 -Current
 Liabilities regarding Micro and Small enterprises has been determined
 to the extent such parties have been identified on the basis of
 information available with the company. This has been relied upon by
 the auditors.