(1) Contingent liabilities not provided for:
 
 a) Guarantees given by the banks on behalf of the Company Rs
 44,94,65,766/- (Previous year Rs 61,51,09,603/ )
 
 b) Unexpired Letters of Credit Rs 12,87,64,359/- (Previous year Rs
 11,89,63,277/-)
 
 c) Corporate guarantee given to Bank and Financial Institution on
 behalf of subsidiary company namely Atlanta Infra Assets Ltd. (formerly
 known as Balaji Toll Ways Ltd.) amounting to Rs 1,50,00,00,000/-
 (Previous year 1,50,00,00,000) against term loan availed by them
 
 d) Disputed Income Tax demand for which appeal is pending before
 Appellate Authority Rs. Nil (Previous year Rs 12,28,55,795/-)
 
 (2) 7 years National Saving Certificates and Kisan Vikas Patra of the
 face value of Rs 8,35,200/- (Previous year Rs 8,35,200/-) have been
 lodged as security with Municipal Corporation, Mumbai.
 
 (3) In the opinion of the Management, the Current Assets, Loans and
 Advances and Current Liabilities are approximately stated if realized
 in the ordinary course of business. The balances of Debtors, Creditors
 and Loans & Advances are subject to confirmation and reconciliation, if
 any. The provisions for all other liabilities is adequate and not in
 excess of the amount reasonably necessary.
 
 (4) Amount paid as Compensation for short-term loans availed by the
 Company are treated as discounting charges by the Company and has been
 merged with interest and financial charges.
 
 (5) The Company, following the principle of prudence, conservatism and
 matching principle of cost and revenue in an EPC contract for
 Engineering, Designing, Procuring and Construction of road project in
 Nagpur provides for expenditure on such contract so that profit from
 the contract is accrued proportionately in relation to the physical
 progress of the work throughout the contract. In view thereof, in this
 account an amount of Rs 1,42,50,842/- (net of last year''s provision of Rs
 14,20,66,721/-) has been adjusted in the Operating Expenses.
 
 (6) During the year under consideration the Company has written back an
 amount of Rs 8,68,21,329.15 as operating income which represents
 unclaimed and excess provision of expenses in respect of completed
 projects.
 
 (7) The Government of Maharashtra, Public Works Department (PWD) vide
 agreement dated 18.10.2000 originally awarded a contract of
 construction of Mumbra – Kausha Bypass Project on NH – 4, Mumbai Pune
 Road on Built, Operate & Transfer (BOT) basis for a concession period
 of 6 years and 9 months (including construction period).
 
 Subsequently, due to change in the scope of work, a supplementary
 agreement dated 11.5.2005 was entered which increased the concession
 period to 10 years, 4 months and 25 days.
 
 The Government of Maharashtra vide Notification dated 27.12.2007
 authorised the Company to collect the toll from the vehicles passing
 through the said road effective from 28.12.2007 to 11.9.2010 as per the
 supplementary agreement.
 
 However, the Company made a representation before the Contracting
 Authority for enhancement of the concession period for various reasons
 including change in scope of work. Based on such representations, the
 PWD has recommended to the concerned authority for the enhancement of
 concession period from 10 years, 4 months and 25 days to 24 years, 1
 month and 17 days.  The Company referred the matter before the Arbitral
 Tribunal to resolve the issue. In the mean time the Government of
 Maharashtra issued an Interim Notification extending the concession
 period from 11-09-2010 to 21-09-2014.  Considering the Interim
 Notification and recommendation of the Chief Engineer (PWD), Mumbai
 Region and also relying upon the legal opinion of a counsel, the
 management is reasonably certain about the enhancement of concession
 period as stated above. In view of this, the toll collection rights are
 amortized in the manner whereby the total cost of the project i.e. Rs
 156.59 crores is written off over the proposed enhanced concession
 period of 24 years, 1 month and 17 days. The Company, therefore,
 amortized the toll collection rights at Rs 8.64 crores, as against the
 amortization of Rs 21.75 crores based on the concession period notified
 by the Government of Maharashtra.
 
 (8) In pursuance on announcement dated March 29, 2008 of the Institute
 of Chartered Accountants of India on Accounting of Derivatives, Mark to
 Market Loss on outstanding derivative instruments as on March 31, 2011
 stood at Rs 6,26,05,376/- in respect of Rupee Foreign Currency Swap
 Transaction. The Company does not hold or issue derivate financial
 instruments for trading or speculative purpose and all the derivates
 entered in to by the Company are to mitigate or offset the risk that
 arise from their normal business activities only. Pending the
 quantification of actual loss or gain on the expiry of derivate
 contract with the authorized dealer the Company has not provided for
 the Mark to Market Losses in the interim period.
 
 (9) Loans and advances includes:
 
 a.  Advance to companies in which Directors are interested as Directors
 Rs 42,92,764/- (previous year Nil). Maximum amount outstanding during
 the year Rs 10,23,53,404/- (previous year Rs Nil).
 
 b.  Advances to subsidiaries:
 
 c. Short-term loan given to subsidiary company namely Atlanta Infra
 Assets Ltd. (formerly known as Balaji Toll Ways Ltd.) Rs
 5,76,00,379/-(Previous year - Nil). Maximum outstanding Rs 5,76,00,379/-
 (Previous year- Nil)
 
 (10) The Company had based on valuation made by approved valuers
 revalued some of its fixed assets in the various accounting years.  The
 resultant appreciation aggregated to Rs 3,99,90,973/- has been added to
 the Gross Block of the Fixed Assets and credited to the Revaluation
 Reserve as per details.
  
 Consequent to revaluation, the appreciated proportion of Fixed Assets
 has been depreciated at the rates applicable to the respective assets
 under the straight-line method of depreciation.
 
 (11) Hitherto, the company was not making any provision for leave
 encashment. The company has, during the year changed its accounting
 policy with regards to recognition of leave encashment liability and
 computed liability of leave encashment till date and accordingly made a
 provision of Rs 3,29,933/-. Due to this profit for the year under
 consideration is lower to that extent.
 
 (12) Deferred Tax
 
 a) In compliance with Accounting Standard – 22 (AS – 22) on Accounting
 for Taxes on Income issued by the Institute of Chartered Accountants
 of India in respect of the deferred tax liability arising on account of
 timing difference for the current financial year, a sum of Rs
 31,35,078/- has been accounted as deferred tax asset.
 
 (13) Income-tax assessments have been completed up to assessment year
 2008-09 (31st March, 2008).
 
 (14) Disclosure as per Accounting Standard -15 (Revised)
 
 a) Defined Contribution Plan
 
 The Company has recognized, in the Profit and Loss Account for the year
 ended 31st March, 2011, contribution to provident fund amounting to Rs
 10,60,317/- as expenses under defined contribution plan under the head
 Contribution to Provident and Other Funds in schedule - 15 –
 Employees Emoluments and Benefits.
 
 v) Valuation Method : Projected Unit Credit Method
 
 Note: The above disclosure is made to the extent of information given
 by the actuaries.
 
 (15) Segment Information
 
 The Company is engaged in the business of contracting activities i.e.
 construction and development of infrastructure. The entire operations
 are governed by the same set of risk and rewards and therefore the same
 has been considered as representing single primary business segment.
 The Company operates within a single geographical segment i.e. India.
 In view of this, the disclosure requirements of Accounting Standard
 (AS-17) Segment Reporting issued by the Institute of Chartered
 Accountants of India are not applicable.
 
 (16) There was no impairment Loss on Fixed Assets on the basis of
 review carried out by the Management in accordance with the Accounting
 Standard – 28 Impairment of Assets issued by the Institute of
 Chartered Accountants of India.
 
 (17) Since the principle business of the Company is construction
 activities, additional information pursuant to the provisions of
 paragraphs 3 & 4 of Part II of Schedule IV of the Companies Act, 1956
 are given below to the extent applicable.
 
 (18) There are no Micro, Small and Medium Enterprises to whom the
 Company owes the dues which are outstanding for more than forty five
 days as at the Balance Sheet date. The above information regarding
 Micro, Small and Medium Enterprises has been determined to the extent
 such parties have been identified on the basis of information available
 with the Company.
 
 (19) Consequent to the approval of the members of the Company and upon
 requisite regulatory compliance, during the year, one equity share of Rs
 10/- each of the Company has been sub- divided in to five equity shares
 of Rs 2/- each fully paid up. The Earnings Per Share on Rs. 2/- each has
 been restated for the corresponding period in accordance with
 Accounting Standard (AS-20) on Earnings Per Share as notified under
 The Companies (Accounting Standard) Rules, 2006.
 
 (20) Related Party Disclosures:
 
 As per the Accounting Standard – 18 Related Party Disclosure issued
 by the Institute of Chartered Accountants of India, the disclosure of
 transactions with related parties as defined in the Accounting Standard
 for the period ended 31st March, 2011 is given below:
 
 A) List of Related Parties
 
 Key Management Personnel and Their Relatives
 
 Rajhoo Bbarot 
 
 Bhavana Bbarot 
 
 Rikiin Bbarot 
 
 Riddhima M. Doshi 
 
 Rajendra Barot HUF 
 
 Ambalal P. Barot HUF
 
 Associates and Joint Ventures
 
 ABT Developers 
 
 Atlanta Thakural Constructions 
 
 Shreenath Builders
 
 Atlanta-ARSS Joint Venture 
 
 ARSS-Atlanta Joint Venture
 
 Enterprises over which Key Management Personnel is able to exercise
 significant influence.  Subsidiaries:
 
 Atlanta Coalmines Pvt. Ltd.
 
 Atlanta Energy Pvt. Ltd.
 
 Atlanta Nature Homes Pvt. Ltd.
 
 Atlanta Recycling Company Pvt. Ltd.
 
 Atlanta Tourism Venture Ltd. (formerly known as Atlanta
 
 Urban Infrastructure Projects Pvt. Ltd.)
 
 Atlanta Infra Assets Ltd. (formerly known as Balaji
 
 Toll Ways Ltd.)
 
 Other Associates Companies
 
 MORA Tollways Ltd. (formerly known as Atlanta Infraprojects
 
 Developers Private Ltd.)
 
 Vaikuntam Realty Pvt Ltd.
 
 Atul Raj Builders Pvt. Ltd.
 
 Shrikant Studio Pvt. Ltd.
 
 Ideal Toll Road Investments & Operations Pvt. Ltd.
 
 (As identified and certified by the Management and relied upon by the
 auditors. For details of transactions entered into with the related
 parties refer Annexure–1)
 
 (21) Previous year''s figures have been regrouped and rearranged
 wherever necessary.