1.  Estimated amount of contracts remaining to be executed on Capital
 Account and not provided for Rs. 11,52,37 thousands (Previous Year -
 Rs. 1,60,75 thousands) net of advances Rs. 1,95,39 thousands (Previous
 Year - Rs. 33,54 thousands).
 
 2.  Contingent Liabilities:                         Rs. ''000
 
                                                 As at    As at
                                             31st March   31st March
                                                 2011     2010
 
 a) Claims against the Company not
  acknowledged as debts :
 
 i) ESI                                          17,75    17,75
 
 ii) Sales Tax                                 7,59,89  1,63,15
 
 iii) Cess on Jute Bags/Jute Twine                7,32     7,32
 
 iv) Cess and Excise on Captive Consumption      11,33    11,33
 
 v) Excise Duty                                  35,76    36,53
 
 vi) Service Tax                                 42,46     -
 
 vii) Voltage Surcharge on Electricity Consumed1,87,51  1,87,51
 
 b) Corporate Guarantee given on behalf of Company:
 
 i) Amount of Guarantee given                  1,50,00  1,50,00
 
 ii) Amount outstanding as on 31st March         36,59    61,60
 
 Note: In respect of item (a) future cash flows is determinable only on
 receipt of judgements pending at various forums/ authorities which in
 the opinion of the company is not tenable and in case of item (b) the
 maximum amount of cash flows would be the amount of guarantee given by
 the Company. There is no possibility of any reimbursement in case of
 item (a) above.
 
 3.  Secured Loans
 
 3.1 The Term Loan from Vijaya Bank is secured by securitisation of
 future rentals by way of assignment of lease agreements with certain
 tenant of Company''s premises known as Gillander House and also
 secured/to be secured by first Charge by way of equitable mortgage of
 the Company''s said premises on pari passu basis with the other Term
 lenders viz., State Bank of India (SBI), State Bank of Patiala (SBP),
 and IDBI Bank Ltd. (IDBI) for their respective Term Loan under
 Technology Up-gradation Fund Scheme (TUFS) A/c 1 & 2 granted to the
 Company and Letter of Credit Facility from SBI for purchase of capital
 goods.
 
 3.2 The Term Loan from IDBI under Project Finance Scheme is secured by
 first charge by way of Equitable Mortgage by deposit of Title Deeds of
 the Company''s immovable properties situated at Akbarpur in Punjab and
 at Champdani in West Bengal and also secured by way of hypothecation of
 all the movable assets both present and future relating to North India
 Spinning Mill, GIS Cotton Mill and MICCO Divisions of the Company both
 present and future but subject to prior charge(s) created on Current
 Assets relating to North India Spinning Mill, GIS Cotton Mill and MICCO
 Divisions of the Company in favour of the Company''s Working Capital
 Bankers.
 
 3.3 The Term Loans from IDBI, SBP and SBI (under TUFS A/c 1 & 2 ) and
 Letter of Credit Facility from SBI for purchase of capital goods are
 secured/to be secured by first charge by way of Equitable Mortgage by
 deposit of title deeds of the company''s immovable properties situated
 at (a) Akbarpur, Punjab (b) Champdani, West Bengal (c) Gillander House,
 Kolkata (d) Sodepur, 24 Parganas (North) West Bengal and (e) Konnagar,
 West Bengal and also secured by way of 1st charge on entire Fixed
 assets, both present and future of the Company except those pertaining
 to the Tea Division but subject to prior charge(s) created/to be
 created on current assets (except Tea Division) in favour of the
 Company''s Bankers for securing working capital facilities availed from
 time to time in the ordinary course of business. The mortgage and
 charge shall rank pari passu with the mortgage and charges created/to
 be created in favour of IDBI, SBI, SBP and Vijaya Bank. The term loans
 and Letter of Credit for Capital Goods are also secured by guarantee of
 a Director.
 
 3.4 The Term Loan from Tea Board under Special Purpose Tea Fund Scheme
 (SPTF) is secured/to be secured by second charge by way of equitable
 mortgage on Immovable properties situated at the Tea estates and also
 further secured/ to be secured by second charge by way of hypothecation
 of Tea crop of the estates.
 
 3.5 The Term Loan from Indusind Bank Ltd., and HDFC Bank Ltd., are
 secured by hypothecation of the related Equipment/ vehicles purchased
 and guaranteed by a director.
 
 3.6 Working Capital Facilities from Banks (except those availed by Tea
 Division of the Company from United Bank of India) are secured/ to be
 secured by hypothecation of Company''s (other than Tea Division) entire
 current assets, both present and future, ranking pari passu inter-se,
 and guaranteed by a Director and are further secured/ to be secured by
 way of second charge on the Fixed Assets of the Company (other than Tea
 Division) ranking pari passu inter-se.
 
 3.7 In respect of Tea Division, the working capital facilities from
 United Bank of India are secured/ to be secured by Hypothecation of Tea
 Crop, Made Tea, Book Debts and all other Current Assets of the Tea
 Estates and are further secured/to be secured by way of Equitable
 Mortgage on Immovable Properties situated at the Tea Estates.
 
 4.  The Company has made necessary application in respect of Chemical
 (Waldies) Division for exemption under the Urban Land (Ceiling &
 Regulation) Act, 1976 in respect of its landholding held in excess in
 terms of the said Act.
 
 5. (a) The Company had entered into a non-cancellable operating lease
 agreement in earlier year for a period of 117 Months in connection with
 certain Plant and Machinery at its unit at Akbarpur, Punjab. The terms
 of the lease include operating term for renewal and restrict the right
 to sell, sub-let or allow any third person to use the machinery without
 the prior consent of the lessor in writing. The future minimum lease
 commitments of the Company at the year-end are as follows:
 
 (b) The Company has taken various Plant and Machinery for its
 Engineering (MICCO) Division under cancellable operating
 lease. Lease range for the period between 3 to 8 months. During the
 year the Company has charged related lease rental of Rs 2,91,83
 thousands (Previous Year – Rs 2,35,00 thousands) in the Profit and Loss
 Account under the head Machinery Hire Charges (Schedule 16 to
 Accounts).
 
 (c) The Company has entered into a non- cancellable operating lease
 agreement during the year 2009-10 in respect of lease rental of a tea
 manufacturing facility for a period of two years and ten months. The
 terms of the lease include restriction to sell, sub-let and or part
 with possession of the let-out premises without prior permission of the
 lessor. As per terms of the lease, an additional rent at a prescribed
 rate is payable from 2nd April, 2009 onwards in case of production from
 the let-out premises exceeds a specified limit.
 
 (d) The Company has given office premises under cancellable operating
 leases. These leasing arrangements range between 3 years and 15 years
 generally or longer and are usually renewable by mutual consent on
 mutually agreeable terms.  Initial Direct costs for such leases are
 borne by the Company and charged off to revenue. Lease rentals are
 recognised as income which was Rs.4,30,93 thousands during the year
 (Previous Year – Rs. 3,86,24 thousands). The gross value and
 accumulated depreciation of such asset as at 31st March, 2011 was Rs.
 23,59 thousands (Previous Year – Rs.  23,59 thousands) and Rs 23,55
 thousands (Previous Year – Rs. 23,55 thousands ) respectively.
 
 (e) The Company has certain operating leases for premises (residential,
 offices and godowns) which are not non-cancellable range between 3
 months to 5 years generally and are usually renewable by mutual consent
 on mutually agreeable terms. The aggregate lease rentals payable are
 charged in the Profit & Loss Account under the head Rent (Schedule 16
 to Accounts).
 
 6. Advances recoverable in cash or kind or for value to be received
 include Rs Nil thousands (Previous Year Rs. 13,12 thousands) adjustable
 against future lease rental of a manufacturing facility availed during
 the year as disclosed in Note 12(c) above.
 
 7. Details of Employee Benefits as required by Accounting Standard –
 15 Employee Benefits are as follows:
 
 7.1 Providend Fund
 
 The Company makes a contribution for Provident fund towards defined
 contribution Plans for eligible employees. In respect of certain
 employees, Provident Fund Contribution is made to Trust Funds
 administered by the Company towards defined benefit plans. The company
 shall make good for deficiency, if any, in the interest rate declared
 by the trust vis-a-vis statutory rate.
 
 During the year, based on applicable rates, the Company has recognised
 Rs. 4,82,54 thousands (Previous year - Rs.  4,44,82 thousands) on this
 account in Contribution to Provident Fund under Schedule 16.
 
 7.2 Employee State Insurance Scheme
 
 The Company make contribution for Employee State Insurance Scheme
 towords defined contribution plan. During the year company has
 recognised Rs. 85,69 thousands (Previous year - Rs. 63,70 thousands) on
 this accounts in Staff Welfare Expense under Schedule 16.
 
 7.3 Gratuity
 
 The Company''s Gratuity Scheme, a defined benefit plan, is administered
 by Life Insurance Corporation of India (LIC) and SBI Life Insurance
 Company Ltd (SBI Life). LIC or SBI Life make payments to vested
 employees or their nominees upon retirement, death, incapacitation or
 cessation of employment of an amount based on the respective employee''s
 salary and tenure of employment subject to a maximum limit as
 prescribed. Vesting occurs upon completion of five years of service.
 
 7.4 Leave Encashment
 
 The Company''s leave encashment scheme covers certain categories of
 employees. Pursuant to the Scheme cash equivalent of unutilised leave
 balance is paid at the time of exit of service.
 
 8. Information in accordance with requirements of Accounting
 Statdard-18 on Related Party disclosures prescribed under the Act :- A)
 Enterprises over which Key Management Personnel & Relatives of such
 Personnel are able to exercise significant influence
 
 a) M.D.Kothari and Company Limited (MDKCL)
 
 b) Bhaktwatsal Investments Limited (BIL)
 
 c) Kothari and Co Pvt. Limited (KCPL)
 
 d) Kothari Investments & Industries Pvt. Limited (KIIPL)
 
 e) Commercial House Pvt. Limited (CHPL)
 
 f ) Vishnuhari Investments and Properties Limited (VIPL) g) G.Das and
 Company Pvt. Limited (GDCPL) h) Kothari Medical Centre (KMC)
 
 B) Key Management Personnel of the Company
 
 a) Mr D.K.Sharda (DKS) - Managing Director
 
 b) Mr A.Mallick (AM) - Executive Director & CEO
 
 18. Information given in accordance with requirements of AS-17 on
 Segment Reporting prescribed under the Act :
 
 (a) The Company has Six primary business segments viz :
 
 i) Trading Division - Purchase and sale of paints and allied products
 
 ii) Tea Division - Manufacture and sale of tea
 
 iii) Property Division - Letting out property on rent
 
 iv) Textile Division - Comprises manufacture and sale of yarn made out
 of Cotton and Man-made Fibre viz., Acrylic, Polyster, Viscose Staple
 and Blends thereof.  v) Engineering (MICCO) Division - Comprise
 manufacture and sale of Steel Structurals , Pipes and Equipments and
 Designing , Supplying , Erectioning and Commissioning of projects on
 turnkey basis.
 
 vi) Chemical (Waldies) Division - Manufacture of lead oxide, white
 lead, lead salts and metallic stearates
 
 9. Taxation
 
 (i) Current Tax charge for the year has been reckoned after taking into
 account, benefit under Section 33AB of the Income Tax Act, 1961 (which
 are available on timely deposit of required amount with development
 bank).
 
 10. There are no Micro, Small and Medium enterprises, as defined in the
 Micro, Small, Medium Enterprises Development Act, 2006. The information
 has been determined on the basis of information available with the
 Company.
 
 11. Previous year''s figures have been rearranged / regrouped wherever
 necessary.