Contingent assets are not recognised in the accounts.
 
 I CONTINGENT LIABILITIES: NOT PROVIDED FOR IN RESPECT OF: 
 
                                                       (Rs. in Crore)
 
 Particulars                     As at 31.03.2011    As at 30.09.2009
 
 Claims/Disputed Liabilities 
 not acknowledged as debt :
 
 A.  In respect of some pending 
 cases of employees under 
 labour laws
                                       Amount not         Amount not
                                    ascertainable      ascertainable
 
 B.  Uncalled liability on 
 investments in partly paid-up 
 shares                                       Nil              2.32
 
 
                
 C.  DETAILS OF DISPUTED LIABILITIES DEMANDS:
 
                                                    (Rs. in Crore)
 
 SI.  Particulars                               Period to which amount 
 No.                                            relates
 
 
 1    Additional U.P. Trade Tax & Central       1997-98 to 2004-05
      Sales Tax Liability {Net} against which
      Rs. Nil (Rs. 4.63 Crore) have been 
      deposited                                 1995-97,1993-2000,
                                                2000-01
 
      Sub-total
 
 2.   Entry Tax                                 2001-02, 2009-04, 
                                                2004-05
 
      Sub-total
 
 3    CENVAT Credit on inputs, Capital Items
      & Services against which Rs. 0.48         1994-1995, 1995-96, 
                                                2001-02 to
                                                2008-09
      (Rs. 0.82) crore have been deposited      1995-96, 1996-97,
                                                1998-99 to 2003-04
                                                1994-1995
 
      Sub-total
 
 4    Excise Duty on Molasses, Scrap            1997-98, 2000-01 
                                                to 2002-03, 2007-08
      and Pressumed
 
      Sub-total
 
 5    Purchase Tax Penalty                      1998-1999
 
      Sub-total
 
 6    Stamp Duty demand under Uttar             1992-1993
      Pradesh Stamp Art against which           2003-2004
      Rs. 10.13 crore have been deposited       2005-2006
 
      Sub-total
 
      Grand Total
 
 Sl.  Forum where matter          31.03.2011         30.09.2009
 No.  is pending
 
 1    High Court                        2.53               2.89
 
      Joint Commissioner appeal         0.26               3.94
 
      Trade Tax Tribunal                0.01               0.69
 
      Sub-total                         2.80               7.52
 
 2    High Court                        0.38               0.55
 
      Sub-total                         0.38               0.55
 
 3    Commissioner (A) & CESTAT        33.29              13.03
 
      High Court                        0.30               1.60
 
      Supreme Court                     0.00               0.03
 
      Sub-total                        33.59              14.66
 
 4    Commissioner (A) & CESTAT         0.70               0.04
 
      Sub-total                         0.70               0.04
 
 5    High Court                        0.36               0.36
 
      Sub-total                         0.36               0.36
 
 6    Registrar of Stamp Duty           0.25               0.25
 
      Registrar of Stamp Duty           0.26               0.26
 
      High Court                        3.50               3.50
 
      Sub-total                         4.01               4.01
 
      Grand Total                      41.84              27.14
 
 III NOTES ON ACCOUNTS
 
 1 Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs. 0.76 crore (Rs. 0.86 crore).
 
 2 The Company has accounted for cane purchases for the sugar season
 2007-08 at Rs. 110 per quintal, which was paid based on the Interim
 Order of the Honble Supreme Court as against the price of Rs. 125 per
 quintal fixed by the Uttar Pradesh State Government. Such differential
 price aggregated to Rs. 53 29 crore. The necessary adjustments will be
 made in accordance with the final decision in the matter.
 
 3 The accounts have been prepared without accounting for any Incentive
 entitlements under U.P Sugar Incentive Promotion Policy, 2004 as the
 scheme has been subsequently withdrawn by the State Government The
 Company has filed with petition before Honble Allahabad High Court
 (Lucknow Bench) for enforcement of scheme and settlement of incentive
 claims. As per the erstwhile incentive policy, the Company is eligible
 for capital subsidy of Rs. 89.89 crore i.e. @10% of the investments
 made (already vetted Rs. 50.80 crore) and for reimbursement of taxes
 and other charges aggregating to Rs. 36.94 crore upto 31st March, 2011
 (including Rs. 10.76 crore for the period).
 
 4 The merger of the wholly owned subsidiary Company i.e. Dhampur Sugar
 Distillery Private Limited with the Company w.e.f. 1st October, 2010 is
 not being effected in the accounts due to the pending of the approvals
 from the concerned authorities Including Honble High Court Judicature
 at the Allahabad.
 
 6.  Employees Benefits:
 
 The required disclosures of employees benefits as per Accounting
 Standard -15 are given hereunder :-
 
 (i) In respect of Short Term Employee Benefits :
 
 The Company has at present only the scheme of cumulative benefit of
 leave encashment payable at the end of each cale- nder year and the
 same have been provided for on accrual basis.
 
 (ii) In respect of Defined Benefit Scheme (Based on Actuarial
 Valuation) of Gratuity:
 
 The estimates of rate of escalation in salary considered in actuarial
 valuation, take into account inflation, seniority, promotion and other
 relevant factors.
 
 iii) Defined Contribution Plan :
 
 (The Companys Provident Fund is exempted under Section 17 of
 Employees Provident Fund Act, 1952. Conditions for grant of exemptions
 stipulates that Company shall mate good deficiency, if any, in the
 interest rate declared by the trust vis-a-vis Statutory rate.)
 
 9 Related Party Disclousers:
 
 A.  List of Related Parties with whom transactions have taken place and
 relationships:
 
 i) Enterprises where control exists: 
 
 Subsidiary-
 
 Dhampur Sugar Distillery Private Limited
 Dhampur International Pte Limited
 
 Associates-
 
 Kashlpur Sugar Mills Limited
 
 Other Entities -
 
 D.S.M. Finance and Holdings
 
 ii) Enterprises where there is significant influence
 
 1 God Investments Limited
 
 2 Ujjwal Rural Services Lid. (formerly Associated Metal Company Ltd.)
 
 3 Saraswati Properties Limited
 
 4 Shudh Edible Products Limited
 
 5 Green Fuels Private Limited
 
 6 Mara Capitals Limited
 
 7 Sonitron Limited
 
 8 Ujjwal Microfinance Pvt. Ltd.
 
 iii) Key Management Personnel and their relatives
 
 1 Mr. Vijay Kumar Goel, Executive Director
 
 2 Mr. Ashok Kumar Goel, Vice Chairman Mrs Vinita Goel (wife)
 
 3 Mr. Gaurav Goel Managing Director Mrs Priyanjali Goel (wife)
 
 4 Mr. Gautam Goel, Managing Director
 
 5 Mr. J.P.Sharma, Director
 
   Mrs Asha Devi Sharma (wife), Mr. Mukul Sharma (son)
 
 6 V.K. Goel , H.U.F.
 
 7 Gaurav Goel, H.U.F.
 
 8 Gautam Goel, H.U.F.
 
 13 Following are the relevant disclosures as required under the Micro,
 Small and Medium Enterprises Development Act, 2006:
 
 (a) Sundry creditors include a sum aggregating Rs. 2.57 crore (Rs. 2.53
 crore) due to Micro and Small Enterprises is on account of principal
 only
 
 (b) The amount of interest paid by the Company in terms of Section 16,
 along with the amount of payments made to the Micro and Small
 Enterprise beyond the appointed date during the period - Rs. Nil.
 
 (c) The amount of interest due and payable for the period of delay In
 making payment which have been paid but beyond the appointed day during
 the period but without adding the interest specified under this Act -
 Rs. Nil.
 
 (d) The amount of interest accrued and remaining unpaid - Rs. Nil.
 
 (e) The amount of further interest remaining due and payable even in
 succeeding years- Rs. Nil.
 
 The above mentioned outstandings are in normal course of business and
 the information regarding Micro and Small Enterprises have been
 determined to the extent such parties have been identified on the basis
 of information available with the Company
 
 14 Derivative Instruments
 
 i) The company has entered into following Forward Contract:
 
 a) The Company used foreign currency forward contracts to hedge its
 risks associated with foreign currency fluctuations relating to certain
 firm commitments, the use of foreign currency forward contracts is
 governed by the Companys strategy approved by the Board of Directors,
 which provide principles on the use of such Forward Contracts
 consistent with the Companys Risk Management policy. The Company does
 not use Forward Contracts for speculative purposes.
 
 (Forward exchange contract outstanding as on 31st March, 2011 include
 forward purchases of US Dollar for repayment of external commercial
 borrowings and its interest)
 
 16 Sales, Purchases, Opening and Closing Stock of Finished Goods and
 Other Income :
 
 Notes:
 
 1.  The difference of 10996 Qtls (5265 Qtls) in finished
 goods/purchased sugar represents reprocessing and
 transit/storage/accidental losses.
 
 2.  The difference of 11565 Qtls.  (4652 Qtls) in finished
 goods-molasses represents loss/shortage or account of overflow and
 storage losses.
 
 3.  The difference of 77834 Qtls (976 Qtls.) in finished goods
 chemicals represents captive consumption and storage losses.
 
 4.  Finsihed goods sugar - production/purchases includes 444024
 Qtls.(157000 Qtls.)sugar purchased.
 
 5.  Sales of molases includes 1778524 Qtls.(580589 Qtls.}lnter-unit
 transfer at Nil Value.
 
 6.  Sales of farm produce in dudes 51368 Qtls. (33393 Qtls.) lnter-unit
 transfer at Nil Value.
 
 7.  Sales of steam lncluudes 3390840M.T.(1277142 M.T.) lnter-unit
 transfer at Nil Value.
 
 8.  Sales of power includes 200462 M.W. (79846 M.W.)lnter-unit transfer
 at Nil Value.
 
 18 Pursuant to the approval of the Registrar of Companies, Uttar
 Pradesh and Uttarakhand, the current accounting period comprises of 18
 months commencing from 1 st October,2009 to 31 st March,2011, hence the
 figures of the current period are not comaprable with those of previous
 year figures.
 
 19 Previous year figures in bracket have been regrouped wherever
 considered necessary.