1.  Contingent Liabilities not provided for in respect of:
 
                                                              (Rs. crore)
 
 Year ended                                   31.03.2011     31.03.2010
 
 (i) Guarantees issued in Indian Currency          26.96          50.00
 
 (ii) Bank Guarantees                               8.87           6.87
 
 (iii) Performance Guarantees issued                0.60           0.67
 
 (iv) Claims not acknowledged as debts             92.35          50.14
 
 (v) Estimated amount of contract 
 (including lease contract) remaining
 to be executed on capital account 
 (net of advances)                                  3.78           4.36
 
 (vi) Tax Matters:
 
 – Income Tax                                      27.07         314.64
 
 – Service Tax                                      4.54           3.08
 
 In view of judicial pronouncements and legal opinions in respect of
 issues under appeal, no provision is considered necessary.
 
 2.  In exercise of the powers conferred by Section 211(3) of the
 Companies Act, 1956, the Central Government vide notification dated
 February 8, 2011, has exempted Public Financial Institutions as
 specified under Section 4A of the Companies Act, 1956 from disclosing
 company-wise details of Investments subject to fulfilment of certain
 conditions. The accounts for the year have been prepared in accordance
 therewith.
 
 3.  The stakeholders of IFCI in Financial Year (FY) 2002-03 had
 approved the package for restructuring of debt/liabilities, inter-alia,
 providing for release of Rs. 5,220 crore (comprising Rs. 3,604 crore
 towards principal and Rs. 1,616 crore towards interest over future years
 on liabilities taken over/to be serviced by Government of India) as
 Grant.  Government of India (GoI) released Rs. 2,932.31 crore, comprising
 Rs. 523 crore as loan (FY 2002-03) and Rs. 2,409.31 crore (FY 2003-04 to FY
 2006-07) as Grant. The amount of Rs. 2,409.31 crore received as Grant in
 FY 2003-04 to 2006-07 comprised of Rs. 1,606.31 crore towards principal
 and Rs. 803 crore towards interest. Out of Rs. 1,606.31 crore received
 towards principal, Rs. 1,359 crore (FY 2003-04) was accounted as
 extra-ordinary income and Rs. 247.31 crore (FY 2004-05 to FY 2006-07) as
 Restructuring Reserve in the Reserves & Surplus A/c and thereafter
 transferred to Profit & Loss A/c, as per the guidelines conveyed by
 RBI. The amount of Rs. 803 crore received towards interest was reduced
 from the cost of borrowings in respective years. No Grant has been
 received since April 1, 2007.
 
 4.  The bonds guaranteed by GoI of Rs. 2,270.21 crore include bonds of Rs.
 1,830.21 crore which have been rolled over for 10 years from the
 respective due dates in line with the minutes of meetings of
 stakeholders, held on November 26 and December 2, 2002 and
 communication to GoI.
 
 5.  Transfer of equivalent amount to Capital Redemption Reserve Account
 in respect of Preference Shares of Rs. 20 crore redeemed in the FY
 2001-02, was complied with in FY 2007-08. However, the Company''s
 application to the Regional Director, Northern Region for compounding
 is yet to be disposed off by the authorities.
 
 5(a) GoI has the option of converting the debentures, as shown at ''A''
 of Schedule III, wholly or partly into fully paid equity shares of IFCI
 Limited, at par, at any time during the currency of debentures subject
 to compliance with provisions of SEBI guidelines, in respect of
 preferential allotment. IFCI also has the right to redeem the
 convertible debentures issued to GoI, fully or partly, at par, at any
 time after expiry of five years from the date of the issue with prior
 approval of RBI.
 
 5(b) Loan from GoI as shown at ''D(a)(i)'' of Schedule III, to be issued
 in the form of 0.1% Optionally Convertible Debentures and redeemable on
 28.03.2023 has a right of recompense on par with other stakeholders.
 
 6.  Borrowings from Banks & FIs shown at ''D(a)(ii)'' of Schedule III
 include loans of Rs. 300 crore (Previous Year - Rs. 300 crore), against
 security of cash flow/negative lien against certain identified loan
 assets.
 
 7.  In respect of Investments in shares and debentures in certain
 cases, scrips are yet to be received.
 
 8.  The Gross Block of Fixed Assets includes Rs. 1,034.69 crore
 (Previous Year – Rs. 1,194.32 crore) on account of revaluation of Land &
 Buildings carried out in the previous year.  The additional charge of
 depreciation of Rs. 22.29 crore (Previous Year – Rs. 9.42 crore) on
 revaluation carried out in earlier years has been charged to Profit &
 Loss Account and an equivalent amount withdrawn from Revaluation
 Reserve and credited to Profit and Loss Account.
 
 9.  Balances appearing under loans, sundry debtors and sundry
 creditors are subject to confirmation in certain cases.
 
 10.  There are no Micro and Small Enterprises, to whom the Company owes
 dues, which are outstanding for more than 45 days as at March 31, 2011.
 This information as required to be disclosed 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.
 
 11.  Details of investments purchased and sold/redeemed during the
 period ended March 31, 2011 are enclosed as Annexure.
 
 12.  There are no material prior period items, except to the extent
 disclosed, included in Profit & Loss A/c required to be disclosed as
 per Accounting Standard-5 issued by the ICAI read with RBI guidelines.
 
 13.  Defined Benefit Plans/Long Term Compensated Absences–As per
 Actuarial Valuations as on March 31, 2011 and recognized in the
 financial statements in respect of Employee Benefit Schemes:
 
 14. The Company operates in India and hence it is considered to operate
 only in domestic segment. More than 90% of revenue for the Company
 comes from a single segment of Financing. Accordingly, segment
 reporting as required under Accounting Standard-17, issued by the ICAI
 is not applicable.
 
 15. (a) Provisions of Accounting Standard-19, issued by the
 ICAI-Leases are not applicable as the Company has not entered into
 leasing transaction on or after April 01, 2001.
 
 (b) The Company has entered into lease agreement at four centers. Some
 of the significant terms and conditions of the arrangements are:
 
 - Agreement may generally be terminated by either party on serving a
 notice period.
 
 - The lease arrangements are generally renewed on expiry of lease
 period subject to mutual agreement.
 
 - The Company shall not sublet, assign or part with the possession of
 the premises without prior written consent of lessor.
 
 (c) Rent in respect of above is charged to Profit & Loss Account.
 
 16. Fixed Assets possessed by the Company are treated as ''Corporate
 Assets'' and not ''Cash Generating Units'' as defined by Accounting
 Standard-28 - Impairment of Assets issued by the ICAI. As on March
 31, 2011, there were no events or changes in circumstances which
 indicate any impairment in the assets.
 
 17.  Total value of outstanding Currency Swaps was USD 41.90 million
 against INR and EUR 69 million against USD (Previous Year - USD 23.20
 million against INR and EUR 45.80 million against USD respectively)
 equivalent to Rs. 634.31 crore (Previous Year - Rs. 398.89 crore) whereas
 total value of outstanding Forex Deals other than Currency Swaps was
 USD 4.30 million against INR and EUR 5 million against USD equivalent
 to Rs. 19.29 crore and Rs. 31.84 crore respectively (Previous Year - 8.00
 million and EUR 19.40 million respectively).
 
 18.  Foreign Currency exposure that is not hedged by derivative
 instrument or otherwise is USD 0.25 million (Previous Year - USD 0.70
 million) and EUR 0.0172 million (Previous Year - EUR 0.16 million),
 equivalent to Rs. 1.23 crore (Previous Year - Rs. 3.17 crore)
 
 19.  During the year, the company had issued infrastructure bonds as
 defined u/s 80CCF of the Income Tax Act, 1961 amounting to Rs. 370.75
 crore. The entire proceeds have been utilized for the purpose of
 ''Infrastructure Lending'' in terms of the CBDT Notification No.48/2010
 dated July 9, 2010.
 
 20.  Previous year/period figures have been re-grouped/re-arranged
 wherever necessary, to conform to current year presentation.
 
 21.  Balance Sheet abstract and Company''s General Business Profile as
 per Part IV of Schedule VI of the Companies Act, 1956 are enclosed as
 Appendix.