1.  During the year, the name of the Company was changed from Cox and
 Kings (India) Limited to Cox & Kings Limited. The fresh certificate of
 incorporation with the current name was issued on July 29, 2010 by the
 Registrar of Companies.
 
 2.  CONTINGENT LIABILITIES
 
 a) Guarantees given by banks Rs. 31,588.78 Lacs (Previous Year Rs.
 12,924.02 Lacs)
 
 b) Claims against the Company not acknowledged as debts estimated at
 Rs. 853.08 Lacs (Previous Year Rs. 1,279.37 Lacs)
 
 c) Disputed income tax demand Rs. 769.52 Lacs (Previous Year Rs. 295.67
 Lacs). The Company has made advance payment of Rs. 120.89 Lacs
 (Previous Year Rs. 50.91 Lacs) against the same.
 
 d) Guarantees given to bank for loan taken by wholly owned subsidiaries
 company Rs. 25,876.75 Lacs equivalent to USD 57 Million (Previous Year
 Rs. 25,667.16 Lacs equivalent to USD 57 Million)
 
 3.  Unsecured loan to the extent of Nil (Previous Year Rs. 9,000.00
 Lacs) is secured by personal guarantee of the director.
 
 B) Investment by the loanee in the shares of the Company
 
 (i) None of the loanees and / or subsidiary companies of loanees have,
 per se, made investments in shares of the Company.
 
 4. Related party disclosures with respect of transactions during the
 period:
 
 I.  List of Related parties: Subsidiaries:
 
 Clearmine Ltd.
 
 Cox & Kings Destination Management Services Ltd. (Earlier known as ETN
 Services Limited, effect from 11th March, 2011)
 
 Cox & Kings Singapore Pvt. Ltd.
 
 Cox & Kings Tours (L.L.C)
 
 Cox & Kings (UK) Ltd. (Earlier know as Cox & Kings Ltd. effective
 from 13th July, 2010)
 
 Cox & Kings Travel Ltd.
 
 Cox & Kings (Japan) Ltd.
 
 Cox & Kings (Shipping) Ltd.
 
 Cox & Kings Special Interest Holidays Ltd.
 
 Cox & Kings Tours Ltd.
 
 Cox & Kings Enterprises Ltd.
 
 Cox & Kings Holdings Ltd.
 
 ETN Services Ltd. (Earlier know as Cox & Kings Investments Ltd.
 effective from 11th March, 2011)
 
 Cox & Kings Finance Ltd.
 
 Cox & Kings (Mauritius) Ltd.
 
 Cox & Kings (Agents) Ltd.
 
 C&K Investments Ltd.
 
 Grand Tours Ltd.
 
 East India Travel Company Inc.
 
 Cox & Kings (Australia) PTY Ltd.
 
 Tempo Holidays Pty Ltd.
 
 Tempo Holidays NZ Ltd.
 
 Quoprro Global Services Pte Ltd.
 
 Quoprro Global Services Pvt. Ltd.
 
 Quoprro Global Limited, UK
 
 Quoprro Global Services Pvt. Ltd, Hongkong
 
 Quoprro Global Hellas, Greece
 
 Cox and Kings Gmbh.
 
 Cox and Kings Nordic PTY Limited, Australia (Earlier known as MyPlanet
 Australia Pty Ltd, effective from 22nd April, 2010)
 
 Bentours International Pty Ltd, Australia
 
 Cox & Kings Asia Pacific Travel Ltd., Hong kong (with effect from 10th
 November, 2010)
 
 Prometheon Holdings Private Ltd., Mauritius (with effect from 12th
 January, 2011)
 
 Prometheon Holdings Ltd., UK (with effect from 31st January, 2011)
 
 Cox and Kings Global Services Pvt. Ltd., India (with effect from 21st
 March, 2011)
 
 Associates:
 
 Tulip Star Hotels Ltd.
 
 Joint Venture:
 
 Royale Indian Rail Tours Ltd.
 
 Key Management Personnel
 
 Mr. A.B.M Good – Chairman
 
 Mr. Peter Kerkar – Director
 
 Ms. Urrshila Kerkar – Director
 
 Relatives of Key Management Personnel
 
 Mrs Elizabeth Kerkar
 
 Enterprises over which Key Management Personnel and their relatives
 exercise significant influence
 
 Far Pavilions Tours and Travels Pvt. Ltd.  
 
 Ezeego One Travel and Tours Ltd.
 
 Disclosures in respect of material related party transactions during
 the year:
 
 1.  Purchases include Cox & Kings Destination Management Services Ltd.
 Rs. 1,273.23 Lacs (Previous year Rs. 734.75 Lacs), Cox & Kings Tours
 (L.L.C.) Rs. 1,332.55 Lacs (Previous year Rs. 1,721.16 Lacs) and Ezeego
 One Travels and Tours Ltd. Rs. 1,606.10 Lacs (Previous year Rs.
 1,154.50 Lacs) Royale Indian Rail Tours Limited Rs. 1,204.63 Lacs
 (Previous year Rs. 87.99 Lacs).
 
 2.  Remuneration paid includes Rs. 95.56 Lacs paid to Ms. Urrshila
 Kerkar (Previous year Rs. 95.43 Lacs).
 
 3.  Sales include sales to Cox & Kings Travel Ltd. Rs. 2,017.30 Lacs
 (Previous year Rs. 1,671.66 Lacs), and Ezeego One Travels and Tours
 Ltd. Rs. 21,873.14 Lacs (Previous year Rs. 12,181.84 Lacs)
 
 4.  Interest received includes Quoprro Global Services Pvt. Ltd. Rs.
 211.23 Lacs (Previous year Rs. 136.85 Lacs), Tulip Star Hotels Ltd. Rs.
 304.76 Lacs (Previous year Rs. 263.01 Lacs), Ezeego One Tours & Travels
 Ltd. Rs. 480.77 Lacs (Previous year Rs. 848.93 Lacs) and Royale Indian
 Rail Tours Ltd for Rs. 214.47 Lacs (Previous year Rs.Nil).
 
 5.  Investments during the year are Rs. 520.25 Lacs made in Quoprro
 Global Services Pvt. Ltd. UK (Previous year Rs. 22.22 Lacs in Quoprro
 Global Services Pvt. Ltd. India).
 
 6.  Movement in Loans / advances include: -
 
 a.  Advance to Cox and Kings Asia Pacific Travel Ltd. Rs. 14,030.46
 Lacs (Previous year NIL), Royale Indian Rail Tours Ltd. for Rs. 928.92
 Lacs (Previous year Rs. 2,481.13 Lacs).
 
 b.  Repayment from Ezeego One Travel and Tours Ltd. Rs. 9,050.05 Lacs
 (Previous year repayment of Rs. 676.68 Lacs).
 
 7.  Bank Guarantees includes Cox and Kings (Australia) Pty Ltd. Rs.
 14,527.30 Lacs (Previous year Rs. 14,409.63 Lacs and Cox and Kings
 Travel Ltd. Rs. 11,349.45 Lacs (Previous year Rs.11,257.53 Lacs.)
 
 8. The Company operates in only one business segment, namely Tours and
 Travel as defined in Accounting Standard 17 (Segment Reporting)
 notified by Companies (Accounting Standard) Rules, 2006.
 
 The estimates of rate of escalation in salary considered in actuarial
 valuation, take into account inflation, seniority, promotion and other
 relevant factors including supply and demand in the employment market.
 The above information is certified by the LIC of India.
 
 The expected rate of return on plan assets is determined considering
 several applicable factors mainly the composition of plan assets held,
 assessed risks historical results of return on plan assets and the
 Company''s policy for plan asset management.
 
 9. Financial and Derivatives Instruments:
 
 Derivative contracts entered into by the company and outstanding as on
 31st March, 2011
 
 (1) For hedging currency related risk:
 
 Nominal amount of Forward contracts entered into by the company and
 outstanding as on 31st March, 2011 amounted to Rs. 121.54 Lacs
 (Previous year Rs. 306.63 Lacs)
 
 (2) Foreign Currency exposure that are not hedged by derivative
 instrument as on 31st March, 2011 amount to Rs. 1,929.02 Lacs (Previous
 year Rs. 2,158.59 Lacs) in terms of Debtors, Rs. 7,316.59 Lacs
 (Previous year Rs. 3,631.78 Lacs) in terms of Banks (net of Creditor of
 Rs. 514.59 Lacs) and Rs. 4,004.09 Lacs (Previous year Rs. 4,503.01
 Lacs) in term of Loan.
 
 10. The Company has paid dividend in respect of shares held by
 Non-Residents on repatriation basis. This inter-alia includes portfolio
 investment and direct investment, where the amount is also credited to
 Non-Resident External Account (NRE A/c). The exact amount of dividend
 remitted in foreign currency cannot be ascertained. The total amount
 remittable in this respect is given herein below
 
 11.  As per Section 212 of the Companies Act, 1956, Company required to
 attach the Directors'' report, Balance Sheet, and Profit and Loss
 account of subsidiaries with financial statements. The Ministry of
 Corporate affairs, Government of India vide its circular no. 2/2011
 dated February 8, 2011 has granted a general exemption from complying
 with Section 212 of the Companies Act 1956, subject to fulfilment of
 condition stipulated in the circular. The Company has satisfied the
 conditions stipulated in the circular and hence is entitled to the
 exemption. The necessary information relating to the subsidiary has
 been included in the Consolidated Financial Statements.
 
 12.  In the opinion of the Board of Directors, the current assets and
 loans & advances have a value on realisation in ordinary course of
 business at least equal to the amount at which they are stated.
 
 23.  Information as required under Part II of Schedule VI of the
 Companies Act, 1956 is given to the extent applicable.
 
 14.  Particulars required to be furnished in terms of Part IV of
 Schedule VI to the Companies Act, 1956 is enclosed in the Annexure.
 
 15.  Previous year''s figures have been regrouped / rearranged where
 necessary to conform to current reporting period classification.