1.  Estimated amount of Contracts remaining to be executed on Capital
 Account and not provided for (Net of advances) :
 
                                                         (Rs. in Crore)
 
                                              2010-11        2009-10
 
 a) In relation to joint ventures              20.26          11.97
 
 b) Others                                    249.56         188.74
 
 2.  Contingent liabilities not provided for:
 
 a) Outstanding Letters of Credit & bank 
    guarantees                                 39.56          44.30
 
 b) Bank guarantees/bid bonds for joint 
    ventures                                  126.32         167.92
 
 c) Claims against the Company not acknowledged as debt, net of
 advances/payments under protest, arbitration, court orders, etc.
 [include claims of Rs. 356.68 crore (previous year: Rs. 311.92 crore)
 pending in arbitration/courts pursuant to arbitration awards] 769.50
 720.38 Contingent liabilities are disclosed to the extent of claims
 received and include an amount of Rs. 11.61 crore (previous year: Rs.10.56
 crore), which may be reimbursable to the company. Any further interest
 demand on the basic claim is not considered where legal cases are
 pending, as the claim itself is not certain. No provision has been made
 for the contingent liabilities stated above, as on the basis of
 information available, careful evaluation of facts and past experience
 of legal aspects of the matters involved, it is not probable that an
 outflow of future economic benefits will take place.
 
 d) As per assessment orders under section 143(3) of the Income Tax Act,
 1961, the Assessing Officer (AO) disallowed certain claims of the
 company, mainly deduction under section 80IA in respect of Rail System
 for assessment years 2003-04 to 2007-08 and Inland Ports (ICDs/CFSs)
 for assessment years 2003-04 to 2008-09 and raised demands of tax and
 interest totalling to Rs. 423.30 crore. In appeal, for AY 2003-04 to
 2007-08, CIT (A) allowed claim u/s 80IA towards Rail System, whereas,
 for Inland Ports, the claim has been disallowed. On this matter, the
 decision of CIT (A) has been upheld by ITAT for AY 2003-04 to 2005- 06
 & the company has already filed appeal(s) against the orders of ITAT in
 Hon''ble Delhi High Court. On the similar issue for AY 2006-07 &
 2007-08, the decision of AO has been upheld by CIT (A) & the company
 has now filed appeal(s) against the orders of CIT (A) in Hon''ble ITAT.
 Appeal for AY 2008-09 is pending with CIT (A). The Hon''ble Committee on
 Disputes (COD) has granted permission to the company for persuing
 appeal on the matter of ICD deduction u/s 80IA before the Hon''ble Delhi
 High Court for AY 2003-04 to 2005-06, while the department''s
 application seeking permission to persue appeal on the matter of rail
 system deduction u/s 80IA before the Hon''ble Delhi High Court for AY
 2003-04 to 2005-06 has been rejected.
 
 e) CIT (A) upheld the orders of AO imposing and thereby recovering
 penalty of Rs. 26.70 crore against the company''s claim of deduction in
 respect of Inland Ports for AY 2003-04 to 2005-06. Appeal(s) filed with
 the Hon''ble ITAT against the above orders of CIT (A) have been decided
 in company''s favour vide orders dated 17th June, 2011. On the similar
 issue for AY 2006-07 & 2007-08, AO has imposed/recovered a penalty of Rs.
 41.94 crore against which the company has filed an appeal with CIT (A).
 
 3.  The company entered into a contract for supply of 1320 wagons by
 Hindustan Engineering and Industries Ltd (HEI). After the supply of
 1050 wagons, the contract was terminated during FY 2004-05, for
 non-fulfilment of obligations on the part of HEI. Company invoked the
 bank guarantee of Rs. 5.99 crore for refund of unadjusted advance and Rs.
 7.37 crore towards performance guarantee for non-fulfilment of terms of
 contract on the part of HEI. The matter has been referred to an
 Arbitration Tribunal and arbitration proceedings are in progress. The
 amount realized from invocation of performance guarantee stands
 credited to Current Liabilities.
 
 4.  The Company has executed Custodian cum Carrier Bonds of Rs.
 22,169.28 crore (previous year: Rs. 20,866.00 crore) in favour of Customs
 Department under the Customs Act, 1962. These bonds are of continuing
 nature, for which claims may be lodged by the Custom Authorities.
 
 5.  As in earlier years, provision for tax for the year is after
 considering tax deduction of Rs. 164.64 crore (previous year: Rs. 118.00
 crore) under section 80IA of the Income Tax Act, 1961 in respect of
 Rail System & Inland Container Depots (Inland Ports).
 
 6.  Haulage charges for transportation of containers by rail upto
 30.07.2010 were paid on fortnightly basis to Indian Railways at the
 rates prescribed by the Ministry of Railways (MOR) from time to time.
 However, w.e.f 31.07.2010, Indian Railways have introduced Terminal
 Management System (TMS), where the Haulage charges are paid upfront on
 generation of Railway Receipts (RRs) from the TMS. Reconciliation of
 the amount paid/payable to railway is done on an ongoing basis
 periodically and difference, if any, is adjusted in the payments for
 the ensuing periods and/or claims is preferred against railways.
 
 7.  i) Income from operations consists of revenue from freight,
 handling, terminal service charges, demurrage and other operating
 income and is net of waivers of Rs. 0.08 crore (previous year: Rs. 0.50
 crore).
 
 ii) Terminal & other service charges include expenses for rail freight,
 handling, road transportation and other operating expenses. These also
 include Rs.14.03 crore (previous year Rs. 14.99 crore) and Rs. 2.67 crore
 (previous year Rs. 2.29 crore) towards power & fuel and consumption of
 stores & spare parts respectively.
 
 8.  i) Loans and Advances include Rs. 1.17 crore (previous year: Rs. 1.11
 crore) given to Customs & Port Trust.
 
 ii) Loans to employees include Rs. 0.09 crore (previous year: Rs. 0.12
 crore) being amount due from Directors and officers of the company.
 Maximum outstanding balance during the year was Rs. 0.11 crore (previous
 year: Rs. 0.12 crore).
 
 9.  During the year, the company realised Rs. 8.99 crore (previous year:
 Rs. 18.22 crore) (net of auction expenses) from auction of undelivered
 containers. Out of the amount realized, Rs. 1.71 crore (previous year: Rs.
 4.13 crore) is paid/payable as custom duty, Rs. 6.02 crore (previous
 year: Rs. 10.25 crore) has been recognised as income and the balance of Rs.
 1.26 crore (previous year: Rs. 3.84 crore) has been shown under Current
 Liabilities.
 
 10.  Depreciation on assets created on leasehold land is provided in
 line with the accounting policy of the company irrespective of the land
 lease period, as the leases are likely to be renewed/extended.
 
 11.  Current liabilities-others includes Rs. 0.23 crore (previous year: Rs.
 0.25 crore) towards unutilised grant received for acquisition of
 specific fixed assets in CONCOR/business arrangement. Amount of Rs. 4.25
 crore (previous year: Rs. 0.38 crore) towards capital grants received &
 utilised during the year for acquisition of fixed assets has been
 deducted from the gross value of fixed assets.
 
 12.  Book Overdraft represents cheques issued by the company pending
 clearance against the flexi/other deposits with the banks.
 
 13.  During the year 1998-99, the company gave loan of Rs. 2.00 crore to
 Indian Railway Welfare Organization (IRWO) at simple interest of 8.5%
 p.a. in terms of Presidential Directives received from the Ministry of
 Railways.  The amount is being repaid as per schedule and the amount of
 loan outstanding as at 31.03.2011 is Rs. NIL (previous year: Rs. 0.20
 crore).
 
 14. a) During the year, the company changed its accounting policy for
 revenue recognition from Freight, Handling income and related expenses
 are accounted for at the time of booking of containers. Terminal
 service charges and wharfage are accounted for on receipt/ at the time
 of release of containers on completed service contract method to Rail
 Freight Income & related Expenses are accounted for at the time of
 issue of RRs by Indian Railways whereas Road Transportation/Handling
 Income & related Expenses are accounted for at the time of booking of
 containers. Terminal service charges and wharfage are accounted for on
 receipt/at the time of release of containers on completed service
 contract method.
 
 Consequent upon such change, income from operations is lower by Rs.
 9.82crores; terminal & other service charges are lower by Rs. 7.60 crore
 & net profit before tax is lower by Rs. 2.22 crore.
 
 b) During the year, the company changed its accounting policy related
 to amortization of capital expenditure on land not belonging to the
 company from Capital expenditure on land not belonging to the company
 is written off to the profit and loss account over its approximate
 period of utility or over a relatively brief period not exceeding five
 years, whichever is less. For this purpose, land is not considered to
 be belonging to the company if the same is not owned or leased/
 licensed to the company. to Capital expenditure on enabling assets,
 like roads, culverts & electricity transmissions etc., the ownership of
 which is not with the Company are charged off to revenue in the
 accounting period of incurrence of such expenditure. However, capital
 expenditure on enabling assets, ownership of which rests with the
 company and which have been created on land not belonging to the
 Company is written off to the P&L Account over its approximate period
 of utility or over a period of 5 years, whichever is less. For this
 purpose, land is not considered to be belonging to the company, if the
 same is not owned or leased/licensed to the company.
 
 Consequent upon such change, depreciation during the year is higher by
 Rs. 41.25 lakhs with a matching decline in the profit before tax.
 
 15.  (a) Miscellaneous expenses include loss on sale of fixed assets Rs.
 94.97 lakhs (Previous Year: Rs. 23.59 lakhs) and exchange fluctuation
 (loss) Rs. 0.04 lakhs (previous year: Rs. 0.05 lakhs).
 
 (b) Wagons and containers damaged in an accident have not been written
 off pending settlement of claim. The estimated claim
 realized/realizable and provision for loss of wagons totalling to Rs.
 1.36 crore (Previous year: Rs. 1.36 crore) is continued to be adjusted in
 the accumulated depreciation since FY 2008-09.
 
 16.  (a) As per the tripartite business arrangement of the company with
 Hindustan Aeronautics Ltd. and Mysore Sales International Ltd. for
 operating air cargo complex at Bangalore (JWG-ACC), a loss of Rs. 0.45
 crore (Previous year: Rs. 0.51 crore) being company''s share in the entity
 as per audited accounts upto 14th January, 2011 (being the date of exit
 by CONCOR) has been accounted for under ''Miscellaneous Expenses.''
 Consequent upon such exit, CONCOR''s share of investment in the business
 arrangement stands debited to Loans & Advances.
 
 (b) HALCON is a business arrangement of the company with Hindustan
 Aeronautics Ltd. for operating an Air Cargo Complex and ICD at Nasik. A
 profit of Rs. 0.08 lakhs (Previous year: Rs. 10.89 lakhs) being company''s
 share in the entity as per unaudited accounts for the year ended 31st
 March, 2011 has been accounted for under ''Miscellaneous Income''.
 
 17.  Works carried out by Railways/its units for the company are
 accounted for on the basis of correspondence / estimates/advice etc.
 
 18.  Land license fee paid/payable to the Indian Railways (IR) is
 calculated on the basis of number of twenty feet equivalent units
 (TEUs) handled in terms of instructions issued by Ministry of Railways
 from time to time. The company lodged claim of Rs. 2.82 crore towards
 land license fee paid to Indian Railways for internal movement of empty
 containers during the years 1999-2000 to 2003-04. The case is being
 continuously followed up with Railway authorities for its recovery.
 However, as a matter of prudence, the same will be accounted for on
 receipt/acceptance.
 
 19.  Stores & spare parts include items costing Rs. 2.01 crore (previous
 year: Rs. 2.16 crore), which have not been consumed during last three
 years. These items by their very nature are essentially to be kept and
 are fit for their intended use.
 
 20 Remittance in foreign currency for dividend:
 
 The company has not remitted any amount in foreign currency on account
 of dividend during the year.
 
 21.  The Company has not received any intimation from the suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 as at the Balance Sheet date and therefore no
 such disclosures under the said Act have been made.
 
 22.  a) As per Presidential Directives received during FY 2008-09,
 Employee''s Salaries and Perquisites have been revised w.e.f 1st
 January, 2007. Disbursement pursuant to such directives was/is being
 made to the eligible employees.
 
 b) Pursuant to DPE circular in respect of 2nd pay committee
 recommendations, the company is in the process of framing a pension
 scheme for its employees. Pending finalization of the scheme, a
 provision of Rs. 4.03 crore
 
 (Previous year: Rs. 0.50 crore) has been made on the basis of actuarial
 valuation towards company''s contribution to the Scheme.
 
 c) The impact of pay revision in respect of custom cost recovery &
 security expenses, etc. payable to the Govt. is being accounted for as
 and when the claims are finalized.
 
 23.  Provisions relating to disclosure of information as required by
 other sub-clauses of Clause-3 of Part-II of Schedule VI to the
 Companies Act, 1956, are not applicable, as the company has no
 manufacturing activity.
 
 24.  During FY 2009-10, company received duty credit entitlement scrips
 amounting to Rs. 82.46 crore (Rs. 29.75 crore in May 2009 and Rs. 52.71 crore
 in February, 2010) under the Served From India Scheme (SFIS) of the
 Govt. of India. As per the scheme, the scrips can be utilized within
 two years for duty credit for import of capital goods & payment of
 excise duty on domestic purchases.  During the current financial year
 2010-11, an amount of Rs. 14.24 crore (previous year: Rs. 8.28 crore) has
 been utilized for custom duty credit on import of capital goods and Rs.
 17.41 crore (Previous year: Rs. 7.87 crore) for excise duty credit on
 domestic purchase, leaving a balance of Rs. 34.66 crore as on
 31.03.2011.During the year, there is no expired amount, which remained
 unutilized (Previous year: Rs. 33.12 crore).
 
 During the current financial year 2010-11, company received additional
 SFIS scrips amounting to Rs. 99.18 crore in September 2010; thus leaving
 a cumulative balance of Rs. 133.84 crore as on 31.03.2011(Previous year:
 Rs. 66.31 crore)
 
 25.  The Govt. has imposed cess on building and other construction
 works under the provisions of the Delhi Building and Other Construction
 Workers (Regulation of Employment and Conditions of Service) Rules,
 2002, Building and other Construction Workers Welfare Cess Act, 1996
 and Building and Other Construction Workers Cess Rules, 1998. Similar
 cess has also been imposed by some other States. During FY 2008-09, a
 notice was received from the Labour Department at Delhi for payment of
 Rs. 46.05 lakhs towards this cess from 1996 onwards. Since the Gazette
 notification for levy of cess has been issued in August 2005, the
 liability from that date amounting to Rs. 4.13 Lakh has been deposited in
 FY 2008-09, which is recoverable from the contractors.
 
 26.  The Company has, with effect from 1st April, 2007, adopted
 Accounting Standard 15, Employee Benefits (revised 2005), issued by the
 Institute of Chartered Accountants of India (ICAI). The disclosures as
 required as per the above accounting standard are as under:
 
 (a) Defined Contribution plans:
 
 (i) Employers'' contribution to Provident Fund
 
 (ii) Employers'' contribution to Employees Pension scheme, 1995
 
 Company pays fixed contribution to Provident Fund at predetermined
 rates to a separate trust, which invests the fund in permitted
 securities. The contribution to the fund for the period is recognized
 as expense and is charged to the profit & loss account. The obligation
 of the company is limited to such fixed contribution.  However, the
 trust is required to pay a minimum rate of interest on contributions to
 the members as specified by Government. During the year, the company
 has recognized the following amounts in the profit and Loss Account.
 
 (i) Employers'' contribution to Provident Fund Rs. 3.93 crore (previous
 year: Rs. 4.42 crore)
 
 (ii) Employers'' contribution to Employees Pension scheme, 1995 Rs. 0.79
 crore (Previous year: Rs. 0.78 crore)
 
 (b) Defined benefit plans:
 
 Gratuity:
 
 The Company has a defined benefit gratuity plan, which is regulated as
 per the provisions of Payment of Gratuity Act, 1972. The scheme is
 funded by the company and is managed by a separate trust. The liability
 for the same is recognized on the basis of actuarial valuation.
 
 Leave Travel Concession :
 
 The company provides LTC facility to its employees, which is regulated
 in accordance with the policy framed in this regard. The liability for
 the same is recognized on the basis of actuarial valuation.
 
 Leave Encashment :
 
 The company has a defined benefit leave encashment plan for its
 employees. Under this plan, they are entitled to encashment of earned
 leaves and medical leaves subject to certain limits and other
 conditions specified for the same. The liabilities towards leave
 encashment have been provided on the basis of actuarial valuation.
 
 Post Retirement Medical Benefits :
 
 The company has formed a medical trust, which takes care of medical
 needs of its employees after their retirement. Their entitlement for
 reimbursement of medical expenses is regulated as per the policy in
 vogue.  The liability for the same is recognized on the basis of
 actuarial valuation.
 
 Long-term Medical Liability :
 
 As per the medical policy in vogue, employees are entitled for
 reimbursement of medical expenses equivalent to one-month basic pay
 plus DA in a calendar year. If in any particular year, the employee
 does not spend the full amount, the balance is carried forward to the
 subsequent years. The liability for the same is recognized on the basis
 of actuarial valuation.
 
 27.  Segment Information as per Accounting Standard-17:
 
 (a) Primary Segments:
 
 The company is organized on All-India basis into two major operating
 divisions- EXIM and Domestic. The divisions are the basis on which the
 company reports its primary segment information. Both EXIM and Domestic
 divisions of the company are engaged in handling, transportation &
 warehousing activities.
 
 Segment revenue and expenses directly attributable to EXIM and Domestic
 segments are allocated to the two segments. Joint revenue and expenses
 have been allocated on a reasonable basis. Segment assets include all
 operating assets used by a segment and consist principally of
 inventories, sundry debtors, cash & bank balances, loans & advances,
 other current assets and fixed assets net of provisions. Similarly,
 segment liabilities include all operating liabilities and consist
 principally of sundry creditors, advance from customers, other
 liabilities and provisions. Segment assets and liabilities do not,
 however, include provisions for taxes.  Joint assets & liabilities have
 been allocated to segments on a reasonable basis.
 
 28.  The disclosure, in terms of clause 32 of the listing agreement is
 as under:
 
 a) Loan to wholly owned subsidiary, M/s Fresh & Healthy Enterprises
 Ltd. (FHEL): Rs. 28.14 crore (previous year: Rs. 33.64 crore). Maximum
 amount outstanding during the year is Rs. 33.64 crore (previous year: Rs.
 38.64 crore).
 
 29.  a) Unless otherwise stated, the figures are in rupees crores.
 
 b) Previous year''s figures have been recast/regrouped/rearranged
 wherever considered necessary to conform to this year''s classification.