31st March 2011 31st March 2010
                                              (Rs ''000)       (Rs ''000)
 
 1.  Contingent Liabilities on disputed 
 Income Tax                                       2027            2027
 
 2.  Related Party Disclosure :
 
 a.  Name of related parties and relationship
 
 Sl No.  Name of the Party Relationship
 
 1 Deccan Exploration Services Private Limited Wholly owned subsidiary
 
 2 Mr. Sandeep Lakhwara Managing Director
 
 3 Mr. Charles E.E. Devenish Chairman
 
 4 Mr. K.R. Krishnamurthy Director
 
 5 Dr. M. Ramakrishnan Director
 
 6 Prof. V. K. Gaur Director
 
 b.  The company had transactions with the following related parties :-
 Dr. M. Ramakrishnan, Mr. K.R. Krishnamurthy, Prof. V.K.Gaur, Mr.
 Sandeep Lakhwara and Deccan Exploration Services Private Limited.
 
 3. The Company undertook activities for exploration of gold at various
 sites. Commercial production of gold has not commenced and therefore it
 is the Company''s intention to account for all the exploration
 expenditure of Rs.7,59,76,628 as noted in schedule ''G'' to the Balance
 Sheet as pre-operative expenditure which will be charged to the profit
 & loss account as and when the commercial activities/production
 commences.
 
 C.  Changes in the fair value of plan assets representing
 reconciliation of the opening and closing balances thereof are as
 follows:
 
 Not Applicable as the Liability is not funded.
 
 4.  The company has not received information from creditors regarding
 their status under the Micro, Small and Medium Enterprises Development
 Act, 2006 and hence disclosure relating to amount unpaid at the end of
 the year under this act has not been given. There were no claims for
 interest on delayed payments.
 
 5.  Segment Reporting :
 
 The Company is mainly engaged in the business of gold exploration and
 mining. Considering the nature of business and financial reporting of
 the Company, the Company has only one segment viz; Gold Mining and
 Exploration as reportable segment.
 
 6.  Grant of Stock Options
 
 Pursuant to the approval accorded by the shareholders at their Annual
 General Meeting held on 28th November 2008, the Company had introduced
 the Deccan Gold Mines Employees Stock Option Plan, 2008 for the benefit
 of the Eligible Employees of the Company and its subsidiaries providing
 for issue of up to a maximum of 30,00,000 Stock Options.  The Bombay
 Stock Exchange Limited (BSE) had granted its ''in-principle'' approval
 for listing of the 30,00,000 Equity Shares that are likely to arise out
 of the exercise of the Stock Options under the Plan.
 
 The Compensation Committee of the Board, at its meeting held on 2nd
 June 2010 had granted 30,00,000 Options at an Exercise Price of
 Rs.16.95 per Option / Equity Share to certain Eligible Employees of the
 Company and its wholly- owned subsidiary viz, Deccan Exploration
 Services Private Limited. In terms of the Plan, the Options were
 granted at a 25% discount to the latest available closing price of
 Rs.22.60 at the BSE on 1 June, 2010 (a day prior to the date of the
 Compensation Committee meeting).
 
 Employee Stock Option Outstanding account Rs.1.70 Crore & Deferred
 Employee Compensation account Rs.1.23 Crore.
 
 Employee Compensation Expenses amounting to Rs.46,90,274/- is included
 under the head Salaries and other benefits.
 
 7.  Previous year figures have been re-grouped, re-arranged wherever
 considered necessary.