1) Contingent Liabilities:
 
 a) Claims against the Company not acknowledged as debts: (Amount in Rs.)
 
 Particulars                         March 31,2011    March 31,2010
 
 The Company has preferred appeals 
 against the income tax demands and     12,187,094       5,138,137
 the same are pending with CIT(A) and 
 ITAT (Appeals). The Company is
 hopeful of succeeding in the appeals.
 
 b) ContingentLiability of Rs.21,331,380/-(previous year NIL) towards
 estimated project development cost
 
 c) The effect of subdivision of each Equity share of Rs. 10/- into Equity
 shares of Rs. 21- each and issue of bonus shares is considered in
 calculating the numberof Options
 
 d) The Company calculates the employee compensation cost using the
 Intrinsic Value of the Options. The Exercise Price of the Options
 granted is generally based on the Market Price as on the date of the
 Grant. The Company had issued 1,148,290 Options at an exercise price
 lower than the market price and accordingly, the Intrinsic Value of
 those Options was Rs. 11,496,590/-, which has been already amortised
 overthe vesting period in previous years
 
 e) No Options were granted during the year and hence calculation of the
 weighted average Fair Value of Options granted during the year (based
 on the calculation of external valuers using Black Scholes Model) is
 not applicable
 
 f) In the event the Company had used the Fair Value of Options for
 calculating the employee compensation cost, the employee compensation
 cost of the Options granted would have been Rs. 343,135/- which would
 have reduced the Profit before Tax of the Company by Rs. 343,135/- and
 the Basic and Diluted EPS would have reduced to Rs.1.84/- and Rs.1.81 /-
 respectively
 
 g) The weighte daverage marketprice at the dates of exercise for 
 options during the year was Rs.39.15
 
 h) The range of Exercise Price for Stock Options outstanding as at
 March 31, 2011 is Rs. 4.80/- to Rs. 19.20/- and the weighted average
 remaining contractual life is 1.13 years
 
 Method and significant assumptions used to estimate the Fair Value of
 the Option for the ESOP 2004 and ESOP 2006 schemes:
 
 The Fair Value of Options has been calculated by an independent valuer.
 The valuation has been done using the Black-Scholes model based on the
 assumptions, which are as below:
 
 a) Expected Life of Options is the period within which the Options are
 expected to be exercised. The Options can be exercised immediately on
 vesting. All the Options vest at the end of one to three years from the
 date of Grant. The Options can be exercised at any time upto 4 years
 from the vesting date
 
 b) Considering the above the average life of option period has been
 assumed as expected life of Options
 
 c) Risk free interest rate has been assumed at 7.5%
 
 d) Share Price is the market price on the National Stock Exchange with
 reference to the Grant date
 
 e) Volatility is calculated based on period to represent a consistent
 trend in the price movement after adjusting abnormal events, if any
 
 f) Expected dividend yield has been calculated as follows:
 
 Dividend per share / Market price of the share on the Grant Date
 
 4) Deferred tax provision has been made in accordance with the
 requirements under the Accounting Standard - 22 Accounting for Taxes
 on Income
 
 a) During the current year ended March 31,2011 the timing difference
 has resulted in a net deferred tax asset of 13,659,000/-
 
 5) Unclaimed dividend of Rs. 14,477,207/- (Previous Year Rs. 11,047,386/-)
 relates to the period from the year ended March 31, 2004 to the year
 ended March 31,2010. During the year an amount of Rs.517,111/-(Previous
 Year Rs.529,527/-)has been transferred to the Investor Education and 
 Protection Fund relating to amounts forthe yearended March 31,2003
 
 6) Derivative Instruments
 
 7) Segment Reporting
 
 The Company is in the business of providing asset management and other
 related service. As such, there are no separate reportable business
 segment or geographical segment as per Accounting Standard 17 on
 Segment Reporting and the Company operates in a single segment i.e.
 Asset Management and other related service
 
 8) Disclosure as required underAccounting Standard -15 on Employee
 Benefits is as under:
 
 a) The Company has recognised Rs. 9,044,138/- (Previous Year- Rs.
 8,038,080/-) in the Profit and Loss Account as Companys Contribution
 to Provident Fund, which is maintained with the office of Regional
 Provident Fund Commissioner
 
 13) The Company has entered into Operating Lease arrangements towards
 provision for vehicles and Business Centre arrangement towards use of
 office facility. The minimum future payments during non-cancellable
 periods under the foregoing arrangements in the aggregate for each of
 the following periods is as follows:
 
 (i) Not laterthan one year- Rs. 24,132,204/- 
 ii) Laterthan one year and not laterthan five years - Rs. 27,362,158/- 
 (iii) Laterthan five years-Rs. Nil
 
 During the current year ended March 31, 2011 the lease payments
 recognised in the Profit and Loss account for the aforesaid arrangement
 amounts tor 25,194,690/-
 
 15) On the basis of the information available with the Company there
 are no suppliers registered under the Micro, Small, Medium Enterprises
 Development Act, 2006. The disclosure under Schedule 8 is done
 accordingly
 
 16) Figures for the previous year have been regrouped and rearranged
 wher ever considered necessary to conform with those of the current 
 year