1.  Commitments and Contingent Liabilities
 
 a) Estimated Amount of Contracts (net of capital advances) remaining to
 be executed on Capital Account - Rs. 216.38 Lacs (Previous Year - Rs.
 193.05 Lacs).
 
 b) Contingent liabilities in respect of:
 
                                                  (Rs. in Lacs)
 
 Particulars                               As at          As at
                                        31.03.2011      31.03.2010
 
 (i)  Service Tax demand raised by 
 authorities against which appeal          633.08          359.02
 has been filed by the Company 
 (Refer Note 1 below)
 
 (ii) Other claims against the Company 
 not acknowledged as debts                  80.24            4.79
 (to the extent ascertainable)
 
 (iii) Income Tax demand raised by 
 authorities against which appeal has
 been filed by the Company               1,336.31            --
 
 (iv)  Other matters 
 (Refer Note 2 below)                   15,390.48       14,042.81
 
 Notes:
 
 1.  The Company has deposited an amount of Rs. 633.08 Lacs (Previous
 year - Rs. Nil) with the service tax authorities, which is included in
 Balance with Excise and Custom Authorities - Schedule J.
 
 2.  Hinduja Ventures Limited has received income tax demand pertaining
 to IT/ ITES business aggregating Rs. 15,390.48 Lacs (Previous Year -
 Rs. 14,042.81 Lacs) in respect of period prior to October 1, 2006 which
 will be reimbursed by the Company pursuant to the Scheme of Arrangement
 and Reconstruction for demerger of IT/ITES business into the Company
 sanctioned by High Court of Judicature of Bombay and made effective on
 March 7, 2007. In this regard, the Company has paid Rs. 3,150 Lacs
 (Previous Year - Rs. 1,350 Lacs) to Hinduja Ventures Limited to
 discharge part payment of disputed Income tax dues pertaining to IT/
 ITES business, which is included in the Advances Recoverable in Cash or
 in Kind or for value to be received. Hinduja Ventures Limited has fi
 led appeal against the said demand. In view of Management and based on
 the legal advice obtained, the Company has fairly a strong case for a
 favourable decision.
 
 3.  Future cash outfl ow in respect of above, if any, is determinable
 only on receipt of judgements/ decisions pending with relevant
 authorities.
 
 4.  Subsequent to the demerger of IT/ ITES business from Hinduja
 Ventures Limited into the Company, certifi cates in respect of tax
 deducted at source by the customers under the Income Tax Act, 1961 of
 India aggregating Rs. 1,315.03 Lacs (Previous Year - Rs. 1,315.03 Lacs)
 were received in the name of Hinduja Ventures Limited. In view of the
 Management, the Company is eligible for the benefits of such tax
 deducted at source since the services were provided by the Company.
 Further, certifi cates of tax deducted at source aggregating Rs.
 1,606.53 Lacs (Previous year - Rs. 1,423.31 Lacs) are in process of
 being collected from the customers.
 
 c) Guarantees/ Bonds outstanding as at March 31, 2011 are as follows:
 
 Guarantees given by banks on behalf of the Company - Rs. 241.77 Lacs
 (Previous Year - Rs. 216.75 Lacs)
 
 Indemnity Bond given by Company to Deputy Commissioner and Assistant
 Commissioner of Customs and Assistant Commissioner of Central Excise
 towards obtaining 100% EOU status for its locational Offices - Rs.
 4,330.55 Lacs (Previous Year - Rs. 4,617.36 Lacs)
 
 Corporate Guarantees given in favour of:
 
 Ryder System, Inc., to guarantee the payment and performance of Hinduja
 Global Solutions Inc., a subsidiary company, under the Outsourcing
 Master Services Agreement entered between the two.
 
 Zurich Services Corporation, Schaumburg to secure the performance of
 Hinduja Global Solutions Inc., a subsidiary company, under the Master
 Service Agreement, pursuant to which Hinduja Global Solutions Inc. has
 contracted to perform certain services.
 
 California Physicians Service dba Blue Shield of California to secure
 the performance of Hinduja Global Solutions Inc., a subsidiary company,
 under the Master Service Agreement, pursuant to which Hinduja Global
 Solutions Inc. has contracted to perform certain services.
 
 Irrevocable Letter of Credit aggregating USD 2,000,000 (Previous Year -
 USD 2,000,000) [equivalent Rs. 888.00 Lacs (Previous Year - Rs. 899.50
 Lacs)] issued towards performance of an overseas contract against
 charge on current and fixed assets of the Company, both present and
 future.
 
 4.  Segment Information
 
 Primary Segment
 
 The Company has identifi ed primary segment to be business segment. In
 accordance with Accounting Standard 17 Segmental Reporting, the
 Company has determined its operations as a single reportable business
 segment, namely Information Technology/ Information Technology Enabled
 Services. Hence, it has no other primary reportable segments. Thus, the
 segment revenue, segment results, total carrying value of segment
 assets and liabilities, capital expenditure incurred to acquire the
 assets, the total amount of charge for depreciation are all as refl
 ected in the fi nancial statements as of and for the year ended March
 31, 2011.
 
 5.  Related Party Disclosures (as identifi ed by the Management)
 
 I Individual having control with his relatives and associates
 
 Mr. Ashok P. Hinduja
 
 II Subsidiaries of Hinduja Global Solutions Limited (includes indirect
 subsidiaries)
 
 1.  Pacifi c Horizon Limited, Mauritius
 
 2.  Hinduja Outsourcing Solutions India Private Limited (w.e.f. May 13,
 2010)
 
 3.  Hinduja Global Solutions Inc., U.S.A. (formerly known as Source1
 HTMT Inc., U.S.A.)
 
 4.  C-Cubed B.V., Netherlands
 
 5.  C-Cubed (Antilles) N.V., Netherlands
 
 6.  Customer Contact Centre Inc., Manila
 
 7.  HTMT Europe Limited, U.K.
 
 8.  Careline Services Limited, U.K. (w.e.f. June 21, 2010)
 
 9.  Hinduja TMT France, S.A.R.L
 
 10.  Affi na L.L.C ., U.S.A
 
 11.  RMT L.L.C, U.S.A
 
 12.  Affi na Company, Canada
 
 III Key Management Personnel
 
 Mr. Partha De Sarkar
 
 IV Enterprises where common control exists
 
 1.  Impeccable Imaginations Private Limited (formerly known as
 Serendipity Films Private Limited)
 
 2.  Hinduja Group India Limited
 
 3.  Aasia Management and Consultancy Private Limited
 
 4.  Hinduja Ventures Limited
 
 5.  IndusInd Media and Communication Limited
 
 6.  Hinduja Healthcare Private Limited
 
 7.  Hinduja Realty Ventures Limited
 
 V Relatives of Key Management personnel
 
 Mrs. Samya Ahmed
 
 12. There are no delays in payments to Micro and Small Enterprises as
 required to be disclosed under the Micro, Small and Medium Enterprises
 Development Act, 2006. Further, there are no outstanding dues payable
 to micro and small enterprises at the year-end.
 
 This has been determined to the extent such parties have been identifi
 ed on the basis of information available with the Company.
 
 13. Exceptional income of Rs. 576.05 Lacs in the previous year ended
 March 31, 2010 represents write back of provision for mark-to-market
 losses on outstanding forward exchange contracts held for hedging
 future customer receivables on account of appreciation of rupee against
 US dollar.
 
 14. Disclosures in terms of Accounting Standard 15 (Revised 2005)
 Employee Benefits.
 
 The Company has classifi ed various benefits provided to employees as
 under:
 
 I Defi ned Contribution Plans
 
 a) Provident Fund
 
 b) Superannuation Fund
 
 c) State Defi ned Contribution Plans
 
 i.  Employers Contribution to Employees State Insurance
 
 ii.  Employers Contribution to Employees Pension Scheme 1995.
 
 15. The details of Employee Stock Option Plan [ESOP] of the Company are
 as follows:
 
 The Shareholders of the Company at their Annual General Meeting held on
 27th September 2008 granted approval to the HTMT Global Solutions
 Limited Employees Stock Option Plan 2008 (now Hinduja Global Solutions
 Employees Stock Option Plan 2008) (ESOP 2008). Subsequently, the
 Compensation Committee approved the terms and conditions relating to
 ESOP 2008 and options were granted on 31st July, 2009. The details of
 ESOP 2008 is as follows:
 
 Maximum grant of options
 
 The maximum number of options that could be issued under ESOP 2008 is
 205,380 (being 1% of the outstanding equity shares of the Company as at
 April 1, 2009)
 
 Vesting Period
 
 Options to vest over a period of three years from the date of their
 grant as under:
 
 - 1/6th of the options granted will vest on the first anniversary of
 the grant date.
 
 - 1/3rd of the options granted will vest on the second anniversary of
 the grant date.
 
 - 1/2 of the options granted will vest on the third anniversary of the
 grant date.
 
 Exercise Period
 
 Options vested with an employee will be exercisable prior to completion
 of the 48th month from the date of their grant by subscribing to the
 number of equity shares in the ratio of one equity share for every
 option. In the event of cessation of employment due to death,
 resignation or otherwise the options may lapse or be exercisable in the
 manner specifi cally provided for in the Scheme.
 
 Exercise Price
 
 Rs. 400.10 per share
 
 The exercise price per share is determined on the basis of closing
 price at the
 
 National Stock Exchange of India Limited immediately preceding the date
 of grant.
 
 Method of Accounting and Intrinsic Value
 
 The compensation costs of stock options granted to employees are
 accounted using the intrinsic value method. Intrinsic value is the
 amount by which the quoted market price of the underlying share exceeds
 the exercise price of the option. In view of exercise price being equal
 to closing market price on the day prior to the date of the grant, the
 intrinsic value of the option is Rs. Nil.
 
 Fair Value and Model Used
 
 Rs. 178.04 per option.
 
 The fair value of stock option has been calculated using Black-Scholes
 Option Pricing Model.
 
 16.  Current tax includes provision for tax of Rs. 274.80 Lacs
 (Previous Year - Rs. 114.09 Lacs) pertaining to overseas branches which
 is determined as per the laws applicable in the relevant country.
 
 17.  Previous Years figures have been regrouped/ rearranged, wherever
 necessary, to conform to the current years classification.