GMR Infrastructure

1. Contingent Liabilities:
 
 Corporate Guarantees issued in respect of borrowings availed by
 subsidiary companies and others – Rs.71,001,000,000 (2008 – Rs.
 28,898,700,000).
 
 2. Capital Commitments a.  Investment in subsidiary companies including
 contribution towards equity shares and commitment towards subordinate
 debt - Rs. 1,020,000,000 (2008 – Rs. 2,424,159,200).
 
 3. Pursuant to the decision of the shareholders of the Company at the
 Extra Ordinary General Meeting held on November 26, 2007, 165,238,088
 equity shares of face value of Rs. 2 each have been allotted to
 Qualified Institutional Buyers (QIB) at a premium of Rs. 238 per share
 on December 12, 2007 and received an amount of Rs. 39,657,141,120. The
 net proceeds after the issue expenses will be utilized towards capital
 expenditure for various projects under development (either directly or
 through our subsidiaries, joint ventures or affiliates), general
 corporate purposes including working capital and strategic initiatives
 and acquisitions in India and abroad. Pending utilization for the
 purposes described above, the funds have been invested in Short term
 Mutual Funds and bank deposits.
 
 4.The Company is a holding company with investments mainly within group
 companies and has certain service activity. Since the income from
 services rendered is below the threshold limit prescribed in the
 Accounting Standard 17 “Segment Reporting” as referred to in section
 211(3C) of the Companies Act, 1956, no separate segment
 reporting/disclosure are considered necessary.
 
 5. The company has entered into certain operating lease agreements and
 an amount of Nil (2008: 5,250,924) paid during the year under such
 agreements has been disclosed as rent under Schedule 13.  These
 agreements are cancelable in nature.
 
 6. There are no micro and small enterprises, to which the Company owes
 dues, which are outstanding for more than 45 days as at March 31, 2009.
 This information as required under the Micro, Small and Medium
 Enterprises Development Act, 2006 has been determined to the extent
 such parties have been identified on the basis of information available
 with the Company. This information has been relied upon by the
 Auditors’.
 
 7. Additional information pursuant to paragraph 3, 4, 4A, 4B, 4C and
 4D of part II of Schedule VI of the Companies Act, 1956:
 
 8.  Information pursuant to paragraphs 3, 4, 4A, 4B, 4C and 4D to the
 extent either Nil or Not Applicable has not been furnished.
 
 9. Previous year’s figures have been regrouped and reclassified,
 wherever necessary, to conform to those of the current year.