1.  Employee benefits:
 
 a) Defined benefit plan (Gratuity)
 
 The Company operates a gratuity plan wherein every employee is entitled
 to the benefit based on last drawn salary for each completed year of
 service. The same is payable on termination of service or retirement
 whichever is earlier.  The benefit vests after five years of continuous
 service. The same is funded with the Life Insurance Corporation of
 India.
 
 b) Defined benefit plan (Cash rewards at retirement)
 
 As per the plan, at the time of normal retirement, Rs. 1 is payable to
 employees for each year of service rendered. The scheme is unfunded.
 
 c) Defined contribution plans
 
 Amount of Rs. 12,785 (previous year: Rs. 11,667) is recognised as an
 expense and included in the ''Contributions to provident and other funds''
 under note no 14.
 
 d) Notes:
 
 1) The plan assets comprises entirely of Insurer Managed Funds.
 
 2) The expected return on plan assets is based on market expectations,
 at the beginning of the year, for returns over the entire life of
 related obligations.
 
 3) The estimates of future salary increases considered takes into
 account the inflation, seniority, promotion and other relevant factors
 on a long term basis.
 
 4) Expected Employer''s contribution in next year Rs. 1,800 (Previous year
 Rs. 2,000).
 
 5) Salary escalation rate is 12 % for first 3 years and 10.50%
 There after.