(Rs. in Lacs)
 
 (1) Contingent Liabilities not provided for:   31.03.2011  31.03.2010
 
 (a) Bills Discounted with Banks under Letter 
 of Credits or otherwise.                         5138.21    12202.99
 
 (b) Bank Guarantees                               392.71           -
 
 (6) During the year, there was an increase in the share capital and
 reserves due to Issue & allotment of 1,60,00,000 Global Depository
 Receipts (GDRs) representing underlying equivalent number of equity
 shares to the persons resident outside India for US $ 6.60 per GDR (Rs.
 292.69/- per GDR of face value of Rs. 10/- each) aggregating to Rs.
 46830.72 lacs.
 
 (2) The Company had alloted 1,00,00,000 warrants on October 4, 2010 at
 Rs. 263 per warrant to B.R. Machine Tools Pvt Ltd. a promoter group
 company on receipt of 25% upfront money as per the provisions of SEBI
 Guidelines for Preferential Allotment.  The aforesaid warrants at the
 option of the allottee is convertible into equivalent number of equity
 shares of the face value of Rs. 10/- each within a period of 18 months
 from the date of allotment.
 
 (3) In accordance with the provisions of Section 78 (2)(b) and (c) of
 the Companies Act, 1956, Securities Premium Account has been utilised
 to write off expenses for share issue expenses(including expenses for
 increase in Authorised Capital) of Rs.. 208 lacs in respect of issue
 and allotment of GDRs.
 
 (4) The Company has issued 42,00,000 equity shares of Rs. 10/- each
 fully paid up at a premium of Rs. 183/- per share on exercise of option
 for conversion of warrants to Reynold Shirting Ltd., after the balance
 sheet date. The Company has also considered the above shares for the
 purpose of proposed dividend.
 
 (5) During the year,the Company has acquired 86,47,336 equity shares
 and 32,180,000 Optionally Convertible Debentures (OCDs) of the Company
 along with all the underlying security including the 1,18,14,114 equity
 shares held by the IDBI Trusteesh p Services Ltd from the Private
 Equity shareholders and OCD holders of Series 1, 2, 3 & 4 of Indore
 based Textile Company STI India Limited (STI), a Company listed on
 Bombay Stock Exchange Limited and National Stock Exchange of India
 Limited. Consequention acquisition,Open offer pursuant to SEBI
 (Acquisition and Takeover) Regulation, 1997 was triggered and at
 present the Compary is holding 2,13,79,722 constituting 73.72% of the
 equity capital of STI thereby becoming the Holding Company of STI.
 
 (6) The Employees''Gratuity Fund Scheme, which is a defined plan, is
 managed by the Trust maintained with Life Insurance Corporation of
 India (LIC) and State Bank of India. The present value of obligation is
 determined based on actuarial valuation using Projected Unit Credit
 Method, which is 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.
 
 (7) Based on the information available with the Company, there are no
 suppliers who are registered as micro or small enterprises under The
 Micro, Small and Medium Enterprises Development Act, 2006, as at March
 31, 2011.
 
 (8) Related Party Disclosure
 
 Name of the Related Party
 
 (A) Subsidiary Companies
 
 BRFL Europe B.V.
 
 DPJ Clothing Ltd.
 
 Bombay Rayon Holdings Ltd.
 
 BRFL Italia S.r.l.
 
 BRFL Bangladesh Pvt. Ltd.
 
 STI India Ltd. (w.e.f. October 27, 2010)
 
 (B) Other related parties
 
 (a) Reynold Shirting Ltd.
 
 (b) Bombay Rayon Clothing Ltd.
 
 (c) Bestsellers Retail India Pvt. Ltd.
 
 (d) Best United Lifestyles Pvt. Ltd.
 
 (e) Best United India Comforts Pvt. Ltd.
 
 (f) Bestseller Wholesale India Pvt. Ltd.
 
 (g) B. R. Machine Tools Pvt. Ltd.
 
 (C) Key Managerial Personnel
 
 Name of Personnel Designation
 
 (a) Mr. Janardan Agrawal Non Executive Chairman
 
 (b) Mr. Aman Agrawal Vice Chairman
 
 (c) Mr. Prashant Agrawal Managing Director
 
 (d) Mr. Uday C. Mogre Executive Director -Corporate
 
 (e) Mr. A. R. Mundra Executive Director -Finance
 
 (9) Segmental Reporting
 
 The Company is mainly engaged in the business of manufacturing of
 textiles consisting of fabrics and garments. Considering the nature of
 business and financial reporting of the Company, the Company has only
 one segment viz; textile as reportable segment.  The Company operates
 in Local & Export segments Geographically. The sales for both is
 separately given, but due to the nature of business the
 assets/liabilities and expenses for these activities can not be
 bifurcated separately.
 
 The Company is also engaged in Power generation through Wind Mills and
 manufacturing of Buttons, however the same are not considered as
 reportable segment in accordance with AS-17.
 
 (10) The disclosures mandated by paragraphs 3(i)(a), 3(ii)(a), 3(ii)(b)
 and 3(ii)(d) of Part II, Schedule VI to the Companies Act, 1956 have
 not been provided in view of applicability of exemption vide General
 Notification No. S.O. 301(E) dated February 8, 2011 issued under
 Section 211(3) of the Companies Act, 1956 by The Ministry of Corporate
 Affairs, Government of India.
 
 (11) Previous year figures have been regrouped/reclassified wherever
 necessary to make them comparable.