Basis of Preparation
 
 These financial statements have been prepared in accordance with the
 generally accepted accounting principles in India under the historical
 cost convention on accrual basis. These financial statements have been
 prepared to comply in all material aspects with the accounting
 standards notified under Section 211(3C) [Companies (Accounting
 Standards) Rules, 2006, as amended] and the other relevant provisions
 of the Companies Act, 1956.
 
 The accounting policies adopted in the preparation of financial
 statements are consistent with those of previous year except further
 change in accounting policy as explained below:
 
 During the year ended September 30, 2012, the revised Schedule VI
 notified under the Companies Act 1956, has become applicable to the
 Company, for preparation and presentation of its financial statements.
 
 All assets and liabilities have been classified as current or
 non-current as per the Company''s normal operating cycle and other
 criteria set out in the Revised Schedule VI to the Companies Act, 1956.
 Based on nature of business and activities carried out by the Company,
 time between acquisition of assets and their realisation in cash and
 cash equivalent, the Company has ascertained its operating cycle as 12
 months for the purpose of current / non-current classification of
 assets and liabilities.
 
 1 (a) Terms / rights attached to equity shares :
 
 The Company has only one class of Equity Shares having a par value of
 Rs. 5/- per share. Equity Shares are parri passu in all respect and
 each equity shareholder is entitled to one vote per share. The Company
 declares and pays dividends in Indian Rupees. The dividend, as and when
 proposed by the Board of Directors is subject to the approval of the
 Shareholders in the ensuing Annual General Meeting except in case of
 interim dividend.
 
 In the event of Liquidation of the Company, the holders of equity
 shares will be entitled to receive remaining assets of the Company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of equity shares held by the
 shareholders.
 
 2 (a) Rupee Term Loan from Axis Bank Ltd.
 
 Balance outstanding Rs. 200,000,000 (Previous year Rs. 200,000,000)
 
 Above loan is secured by first charge on the movable and immovable
 assets of Wind Mill Project located at village Boposhi and Maloshi, Dt.
 Satara.
 
 Bullet repayment on completion of 36 months from the date of first
 disbursement i.e from 28 July, 2011 and interest of Base rate  4.25%
 p.a., payable monthly.
 
 3 (a) Sales Tax deferral
 
 Balance outstanding Rs. 774,837,571 (Previous year Rs. 820,787,101)
 Repayable 1/5th of amount every year after 10 year of the benefit
 availed.
 
 4 (a) As required by and in accordance with Accounting Standard 22 -
 ''Taxes on Income'' prescribed by Companies (Accounting Standards)
 Amendment Rules, 2006, the Company recognises Deferred Tax which result
 from timing differences after ignoring Deferred Tax adjustments
 originating and reversing during the tax holiday period. The Deferred
 tax adjustments reversing outside the Tax holiday period have been
 recomputed consequent to the company''s claim of determining the Tax
 holiday period with reference to the date of each phase of
 implementation as against the earlier intended period with reference to
 a single date of implementation for the Wind Power generation business.
 
 Note :
 
 On the basis of information available with the Company, regarding the
 status of suppliers as defined under the Micro, Small and Medium
 Enterprises Development Act, 2006, there are no suppliers covered
 under above mentioned Act.
 
 Particulars of Contingent liabilities         As at 30th    As at 30th
                                               September
                                               2012          September
                                                             2011
                                               Rupees        Rupees
 
 5.  Contingent Liabilities not provided 
 for in respect of
 
 a) Claims against the Company not 
 acknowledged as debt.                         59,858,522    59,858,522
 
 b) Guarantee given by the Company on 
 behalf of                                    300,000,000   300,000,000
 other Company ( See Note No 28)
 
 6.  Commitments:
 
 A.  The Company as a Promoter of Nandi Economic Corridor Enterprises
 Ltd (NECE) has given an undertaking to Infrastructure Development
 Finance Co. Ltd ( IDFC) in connection with the loan of Rs. 13,200
 million (previous year Rs. 13,200 million) advanced to NECE by IDFC,
 whereby the company has undertaken to ensure continuance of the project
 undertaken by NECE, continued Promoters contributions as per the
 Financial plan, with adequate technical, financial and managerial
 support at the least untill the final settlement date.
 
 Further the company has committed to meet the shortfall in resources of
 NECE by way of Promoters contribution in terms of the Financing Plan
 which can be in the form of Equity / Preference Share Capital and / or
 granting of interest free unsecured loan untill the final settlement
 date, which together with current contributions would be subordinate to
 the funds borrowed from IDFC and shall not be repaid until the final
 settlement date. The company has further agreed to ensure that the
 Borrower adheres to the land sale / Development Plan as mentioned in
 the Common Loan Agreement.
 
 B.  The Company, as a promoter and indirect holding company of Nandi
 Economic Corridor Enterprises Ltd.  (NECE) has signed definitive
 agreements on 24th December 2010, in relation to foreign direct
 investment of Rs. 500 crores in NECE.
 
 Pursuant to these definitive agreements, NECE has allotted convertible
 Securitiesto AIRRO (Mauritius) Holdings V (Investor), on the terms
 and conditions contained in the definitive agreements, whereby the
 investor would get a shareholding between 8.33% and 16.29% in NECE.
 
 7.  The Company has given security to Axis Bank Limited to the extent
 of Rs. 30 Crores for securing the term loan facility granted by it to
 Nandi Highway Developers Limited (a subsidiary of the Company) by way
 of hypothecation of movable assets and equitable mortgage of fixed
 assets pertaining to Wind Mill project of the Company located in
 village Boposhi and Maloshi, Dist Satara.
 
 8.  Segment information based on Consolidated Financial Statements, as
 required by Accounting Standard 17 Segment Reportingas prescribed by
 Companies (Accounting Standards) Rules 2006 is set out in a separate
 statement annexed thereto.
 
 9.  Related party disclosures have been set out in a separate
 statement annexed to this schedule. The related parties, as defined by
 Accounting Standard 18'' Related Party Disclosures'' prescribed by
 Companies (Accounting Standards) Rules, 2006, in respect of which the
 disclosures have been made, have been identified and taken on record by
 the Board.
 
 10.  Consequent to completion of the renewal of registration of the
 wind power generation project as a Clean Development Mechanism (CDM)
 project with UNFCCC, the Company has accrued income in respect of
 Certified Emission Reduction (CER) units, which are to be received on
 completion of further formalities. Income accrued for the year is
 Rs.2,540,566/- (Previous year Rs. 19,713,473/-). After considering the
 CER received during the current year and the exchange rate
 fluctuations, CERs Written off of Rs. 17,938,606/- (Previous year Rs.
 9,440,565/-). Income receivable as at 30th September 2012 amounts to Rs
 9,863,404/- (Previous year Rs. 25,026,399/-).
 
 Nature of Provisions
 
 A.  In terms of various notifications / circulars issued by Government
 of Maharashtra, electricity duty is payable in respect of wind power
 sold to third parties. However in absence of clarity on the entire
 subject and also in view of various other issues the Company as a
 matter of prudence and without prejudice to dispute the claim, has made
 a provision for Electricity duty.
 
 B.  All the Wind Power Projects have completed the tenure of wheeling
 agreement with the distribution licensee viz. Maharashtra State
 Electricity Distribution Company Limited (MSEDCL). All the projects of
 wheeling energy are under the open access provisions issued by the Hon''
 able Maharashtra Electricity Regulatory Commission (MERC). As a matter
 of prudence and without prejudice the Company has made a provision for
 wheeling and Transmission charges under open access.
 
 Expected timing of resulting outflow:
 
 A.  Since the matter is yet to be resolved / clarified in respect of
 applicability of Electricity duty for Wind Power Generation, the timing
 of outflow can not be determined.
 
 B.  Short Term Loans & Advances includes Wheeling and Transmission
 charges of Rs. 52,956,811/- have been paid to the distribution licensee
 under protest, as the matter is pending in appeal with the MERC.
 
 11.  Liability for employee benefit has been determined by an actuary,
 appointed for the purpose, in conformity with the principles set out in
 the Accounting Standard - 15 (Revised) Employee Benefit, prescribed by
 Companies (Accounting Standards) Rules, 2006 the details of which are
 as hereunder:
 
 12.  Advance for purchase of land is given to Nandi Economic Corridor
 Enterprises Limited (NECE), Subsidiary Company.  Land is yet to be
 transferred in the name of the Company.
 
 13.  During the accounting year 2010-11, the Company registered its
 18.33 MW Wind Power project located in Satara District, as an eligible
 project for issuance of Renewable Energy Certificates (RECs). The
 Company had filed necessary applications for issuance of RECs with
 respect to Wind Power generated subsequent to such registration. The
 Company, during the year accrued 55,091 RECs of which 43,310 REC''s were
 sold on Indian Energy Exchange.
 
 14.  Disclosures required as per Clause 32 of the Listing Agreement
 have been set out in a separate statement annexed hereto.
 
 15.  The financial statement for the year ended 30 September, 2011 had
 been prepared as per the then applicable, pre-revised Schedule VI to
 the Companies Act, 1956. Consequent to the notification issued by
 Ministry of Company Affairs dated 28 February, 2011; the financial
 statements for the year ended 30 September, 2012 are prepared as per
 Revised Schedule VI. Accordingly, the previous year figures have also
 been reclassified to conform to this year''s classification. The
 adoption of Revised Schedule VI for previous year figures does not
 impact recognition and measurement principles followed for preparation
 of financial statements.