1.  Schedule 1 to 12 form an integral part of the Balance Sheet and
 Profit & Loss Account.
 
 2.  Contingent Liabilities: (Rs.in lacs)
 
 Sr.No.      Particulars               Current Year     Previous Year
 
 a.   Estimated amount of contracts
      remaining to be execured on 
      capital account and not
      provided for                       2,145.65          2,925.28
 
 b.   Guarantees issued by the bank 
      on behalf of the Company             558.76            240.63
 
 c.   Unexpired Letter of Credit            59.95             71.70
 
 d.   Disputed Liabilities:
 
 - Sales Tax                                10.62             10.62
 
 -  Cenvat                                  19.42             19.42
 
 * Contingent Assets are neither recognized, nor disclosed.
 
 3.  The Company, during the year, has entered into a Share Purchase
 Agreement with the promoters of Amtek India Limited (AIL) and has
 acquired 3,31,10,710 equity shares of AIL. The Company in pursuance to
 regulation 10 & 12 and other applicable provisions of SEBI (Substantial
 Acquisition of Shares and Takeover) Regulations 1997 has given an open
 offer to the existing shareholders of AIL to acquire 2,76,77,565 equity
 shares representing 20% of the fully paid Equity share capital of AIL.
 
 4.  In the opinion of the Board of Directors, all current assets, loans
 and advances, if realized in the ordinary course of business, would be
 realized at least equal to the amounts at which they have been stated
 in the Balance Sheet.  Provision for the known liabilities have been
 made in the books of accounts.
 
 5.  Travelling expenses, Telephone expenses.. Business Promotion and
 Running & Maintenance of vehicle expenses includes Rs.94.64 lacs,
 Rs.9.70 lacs, Rs.84.94 lacs & Rs.11.84 lacs (Previous Year Rs. 90.95
 lacs, Rs 4.93 lacs, Rs.85.26 lacs, & Rs.9.29 lacs), respectively
 incurred by directors.
 
 6.  Maximum amount outstanding at any time during the year due from/due
 to directors is Rs.Nil. (Previous year Rs.Nil).
 
 7.  Other liabilities under current liabilities include Deferred Tax &
 short term loans.
 
 8.  Confirmation of Balances in respect of some of the
 Debtors/creditors as at 30th June 2010 are yet to be received as at the
 date of Audit report.
 
 9.  (a) Sundry Creditors include a Sum of Rs.30.20 lacs (Previous Year
 Rs 13.47) due to Small Scale Industries.
 
 (b) The List of SMEs units to whom Company owes a sum exceeding
 Rs.l,00,000 and which is outstanding for more than 30 days is as unden-
 Gaugeman Industries, Dharam Packing Industries, Bhagwati Packers &
 Tirupati Engg Works etc.
 
 (c) The Payments to SMEs Undertakings have been made as per stipulated
 terms.
 
 (d) The above information has been compiled in respect of parties to
 the extent to which they could be identified as SMEs on the basis of
 information available with the Company.
 
 10.  During the year, the Company, out of 0% FCCB of 0 Million has
 settled FCCB of 8 Million (Equivalent to Rs.60,271.52 lacs) by
 paying an amount of 9.48 Million (Equivalent to Rs.51,537.85 lacs)
 and has transferred the resulting amount of Rs.8,733.67 lacs to Capital
 Reserve Account. Further, the Company, out of 0.5% FCCB of 0 Million
 has settled FCCB of .50 Million (Equivalent to Rs.4,394.10 lacs) by
 paying ,525 million (Equivalent to Rs.4,868.20 lacs) and has also
 paid YTM of .33 million (Equivalent to Rs.10,83.09 lacs) on the
 balance outstanding of .75 Million.
 
 11.  The Company, during the year, has allotted 1,50,00,000 equity
 shares of Rs.2/- each at a premium of Rs.131/- towards 1,50,00,000
 warrants issued to parties and companies covered in the register
 maintained under section 301 of the Companies Act, 1956
 
 12.  The Company, during the year, has received application money of
 Rs.21,540.00 lacs against issue of 2,40,00,000 warrants (carrying
 option/ entitlement to subscribe to one no of equity share of Rs.2/-
 each at a premium of Rs.178/- per share within 18 months from the date
 of allotment to parties and companies covered in the register
 maintained under section 301 of the Companies Act, 1956.
 
 13.  RETIREMENT BENEFITS
 
 The Company has various Schemes of retirement benefits schemes such as
 Provident Fund, Gratuity and Earned Leaves.
 
 Post Employment Benefit Plans:
 
 Effective from financial year 2007-08, the Company has implemented
 Accounting Standard (AS)-15 (Revised -2005) dealing with Employees
 Benefits, issued by the Institute of Chartered Accountants of India.
 AS-15 (Revised-2005) deals with recognition, measurement and disclosure
 of short term, post employment, termination and other long term
 employee benefits provided by the Company.
 
 Payments to defined contribution retirement benefit schemes is charged
 as an expense as they fall due.
 
 The cost of providing defined benefits is determined using Projected
 Unit Credit Method and accordingly, actuarial valuation has been
 carried out at the Balance Sheet date. Actuarial gain & losses are
 recognized in full in the profit & loss account for the period in which
 they occur. Past service cost is recognised to the extent the benefits
 are already vested, and otherwise is amortised on a Straight line
 Method over the average period until the benefits become vested.
 
 The retirement benefit obligations recognised in the Balance Sheet
 represent the present value of the defined benefit obligations as
 adjusted for unrecognised past service cost, and as reduced by the fair
 value of available refunds and reductions in future contributions to
 the scheme.
 
 a) Defined Benefit plan:
 
 Gratuity Plan & Leave Encashment Plan
 
 The Company, in accordance with AS-15 (Revised) has made the provision
 for Gratuity and Leave Encashment on projected unit credit method.
 
 14.  Related party Disclosures & transactions:
 
 As per Accounting Standard AS -18 issued by the Institute of Chartered
 Accountants of India, related parties in terms of the said standard are
 disclosed below : -
 
 A Names of related parties and description of relationship
 
 1) Subsidiaries
 
 1) Ahmednagar Forgings Ltd.
 
 2) Amtek Crank Shafts India Ltd.
 
 3) Amtek Ring Gear Ltd.
 
 4) Smith Jones Inc. USA
 
 5) Amtek Investment (U.K) Ltd.
 
 6) Amtek Investment US Inc.
 
 7) Amtek Deutschland GmbH
 
 8) Amtek Transportation Systems Ltd.
 
 9) Alliance Hydro Power Ltd.
 
 2) Joint Ventures
 
 1) Amtek Tekfor Automotive Ltd.
 
 2) MPT Amtek Automotive (India)Ltd.
 
 3) SMI Amtek Crankshafts Pvt.Ltd.
 
 3.  Associates 1) Amtek India Ltd. & it subsidiary.
 
 3) Key Management Personnel 1) Shri Arvind Dham
 
 2) Shri D.S. Malik
 
 4) Relatives of Key Management Personnel 1) Mrs.Anita Dham wife of Shri
 Arvind Dham
 
 15.  The Company has entered into hedge derivative transactions for
 cost reduction and risk diversification strategy to manage its loan
 portfolio. The Company is accounting for profit and / or loss in such
 transactions on actual receipt / payment basis.
 
 16.  Export sales include sale in transit to its overseas customers
 /subsidiary acknowledged in subsequent year, indirect export and deemed
 export.
 
 17.  Details of units manufactured, material consumed and sales include
 components bought and sold.
 
 18.  Previous years figures have been regrouped, rearranged and
 recasted, wherever considered necessary.