2011              2010
  
                                       Rs. Lakhs         Rs. Lakhs
 
 
 a) Contingent Liability on account 
 of CENVAT cases, Income Tax and others 22363.14         12905.04
 
 
 2 The company had opted for the Tonnage Tax Scheme under the Income
 Tax Act, 1961 in the financial year 2007-08 and has opted out of the
 said scheme with effect from the financial year 2008-09.
 
 3 There are no dues to Small Scale Industries which is outstanding for
 more than 30 days at the Balance Sheet Date computed on unit-wise
 basis. The above information regarding Small Scale Undertaking has been
 determined to the extent such parties have been identified on the basis
 of information available with the Company and has been relied upon by
 the auditors.
 
 4 There are no dues to Micro, Small and Medium Enterprises which are
 outstanding as at the Balance Sheet date and there were no delays as
 per the provisions of the Micro, Small and Medium Enterprises
 Development Act, 2006 in payment of dues to such enterprises. The above
 information regarding Micro, Small and Medium Enterprises has been
 determined to the extent such parties have been identified on the basis
 of information available with the Company and has been relied upon by
 the auditors.
 
 5 Note on Debt Restructuring:
 
 [a] The Corporate Debt Restructuring (CDR) Cell formed by the Reserve
 Bank of India approved a Debt Restructuring proposal for all debts
 other than public deposits with effect from 01-01-2003.
 
 [b] The common documentation for creation of security between all the
 lenders and the company is yet to be executed.  Pending execution of
 common documentation between the lenders and the Company, the security
 clause under the loans have not been changed.
 
 6 The company had issued USD 75 Million Zero Coupon Foreign Currency
 Convertible Bonds [FCCB] which matures on 12th May, 2011. The bonds
 will not bear any interest and are convertible by holders into shares,
 subject to certain conditions.  The net proceeds were used by the
 company for the purpose of Capital Expenditure and other purposes,
 including the repayment of existing debt, as permitted under the
 applicable law or regulations.
 
 The Company has since redeemed the bonds in full on 12th May, 2011
 being the maturity date, at 147.70% of its principal value.
 
 7 The Company has as part of the initiatives to promote corporate
 image and its brands participated in the IPL T/20 tournaments with its
 team The Chennai Super Kings. The right to operate the franchise
 provides a platform to build corporate and brand image especially in
 the context of the company becoming a Pan India Player.
 
 The consideration to operate the franchise, aggregating to USD 91
 Million is payable over a period of 10 years in equal instalments
 commencing from 2008.
 
 As per the agreement, BCCI-IPL will share its income from the sale of
 media rights and sponsorship income with all the franchisees. In
 addition to the Central revenue as mentioned above the franchisee will
 also have local revenue like gate collections, team sponsorships,
 uniform sponsors etc. The revenue from operating the franchise is
 grouped under Miscellaneous Income. Currently the company is following
 a policy of accounting for all the expenditure and revenue associated
 with IPL related operations upon commencement of the Season.
 
 The costs involved in operating the franchise like remuneration to the
 players, travelling and accommodation expenses, advertisements,
 promotions, etc. are accounted in accordance with the Generally
 Accepted Accounting Principles. The expenses are grouped under the
 natural heads of accounts.
 
 The company capitalized the entire franchisee fee payable to BCCI-IPL
 as a Franchise Right under intangible asset.  Considering the revenue
 by operating the franchise and the potential cash flows arising
 therefrom the Franchise Right is being amortized over a period of 10
 years. The amount payable to BCCI towards the same is grouped under
 Sundry Creditors for Capital Expenditure under Current Liabilities.
 
 8 Pending finalisation of ongoing negotiations with various Banks /
 Financial Institutions, the claims towards Interest / Penal interest by
 Banks / Financial Institutions are under negotiation for waiver, amount
 not determinable.
 
 9 Related Party Disclosures:
 
 A. Names of the related parties and the nature of the relationship:
 
 (i) Subsidiary Companies:
 
 Industrial Chemicals and Monomers Limited
 
 ICL Financial Services Limited
 
 ICL Securities Limited
 
 ICL International Limited
 
 PT. Coromandel Minerals Resources
 
 Trishul Concrete Products Limited
 
 Trinetra Cement Ltd (Formerly Indo Zinc Ltd.)
 
 Coromandel Minerals Pte. Ltd., Singapore
 
 (ii) Associate Companies: Raasi Cement Ltd.  Coromandel Sugars Ltd.
 India Cements Capital Ltd.  Coromandel Travels Ltd.  Coromandel
 Electric Company Ltd.  Unique Receivable Management Private Ltd.
 
 (iii) Key Management Personnel (KMP):
 
 Sri N.Srinivasan       - Vice Chairman & Managing Director
 
 Ms Rupa Gurunath       - Wholetime Director (w.e.f. 05.03.2010)
 
 (iv) Relative of KMP, having transactions with the Company:
 
 Ms Rupa Gurunath       - Wholetime Director (w.e.f. 05.03.2010) 
 Mrs Chitra Srinivasan  - Director (w.e.f. 05.03.2010)
 
 Notes:- 1. Loans and advances shown above to Subsidiaries, Associates
 and Others are repayable on demand.
 
 2.  ICDs are not considered as they are repayable on demand and
 interest is charged at market rates.
 
 3.  Loans to Employees as per Company''s policy are not considered.
 
 4.  Pursuant to the scheme of amalgamation approved by the Honourable
 High Court of Judicature at Chennai, the company has issued equity
 shares to the shareholders of Visaka Cement Industry Limited [Visaka].
 As per the said Order 199.54 lakh shares of the company have been
 allotted in aggregate, to the subsidiaries in exchange for their shares
 of Visaka and the same are held in a Trust on their behalf.
 
 10 Employee Benefits:
 
 The details of parameters adopted for valuation of post-employment
 benefit plans and leave benefits, as per Accounting Standard 15 issued
 by ICAI, are as under:
 
 (a) Contribution to Pension Funds:
 
 The company offers pension plans for managerial grade employees and
 Wholetime Directors. While some of the employees are eligible for
 Defined Benefit Plan of Pension, others are eligible for Defined
 Contribution Plan of Pension. The Defined Benefit Plans of Pension are
 managed by Life Insurance Corporation of India and the provision has
 been made on the basis of actuarial valuation.
 
 The estimated aggregate value of Pension liability, discounted @8%
 p.a., under the Defined Benefit Plans and Defined Contribution Plans as
 at 31st March 2011 are Rs.4,427.95 Lakhs (as at 31st March 2010 are
 Rs.4,100.58 Lakhs) and Rs. 1,054.37 Lakhs (as at 31st March 2010 are
 Rs. 1,032.91 lakhs) respectively, as per the details given below:
 
 (b) Leave of absence and encashment:
 
 The Company has different leave plans including paid leave of absence
 plans and encashment of leave plans for employees at different grades
 and provision has been made in accordance with Accounting Standard 15.
 The total amount of provision available for the unavailed leave
 balances as at 31st March 2011 is Rs.5,079.18 Lakhs (as at 31st March
 2010: Rs.4583.22 Lakhs).
 
 (c) Gratuity:
 
 The employees are eligible for Gratuity benefits as per the Payment of
 Gratuity Act, 1972. The Gratuity Scheme is governed by a Trust created
 for this purpose by the company. The amount of Contribution to be made
 is arrived at based on an Actuarial valuation done at the Balance Sheet
 date, as given below and is accounted accordingly.
 
 11 Note on Employees Stock Option Scheme, 2006:
 
 During the year 2006-07, the company announced Employees Stock Option
 Scheme, 2006 (ESOS 2006) to its employees, which came into force on 1st
 December 2006. As per the scheme, the eligible employees are entitled
 to apply for and be allotted to one equity share of Rs.10/- each, fully
 paid-up, on payment of the Exercise price of Rs.50/- per Option, which
 shall vest with the option holders in 2 equal instalments on 1st
 December 2007 and 1st December 2008. The vested options shall be
 exercised by the option holders within 1 year from the date of vesting.
 
 Under ESOS 2006, the maximum number of options to be granted in
 aggregate is not to exceed 15,00,000; of which the company issued
 14,79,000 options, to be vested with the option holders in two equal
 annual instalments. Out of the options vested on 1st December 2007 and
 1st December 2008, the option holders exercised their options for and
 were allotted fully paid up equity shares aggregating to 7,19,000 (as
 at 31st March 2010:7,19,000 shares) and 7,00,000 (as at 31st March
 2010:7,00,000 shares) respectively as at the Balance sheet.
 
 In terms of the Scheme, 3000 options were issued to an eligible
 employee on 6th August 2009. Each option on such vesting can be
 exercised by applying for an equity share of Rs. 10/- each fully paidup
 for a sum of Rs. 50/- (inclusive of premium of Rs 40/-) on or before
 1st September 2011 and 1st September 2012 respectively. 1,500 options
 vested on 01.09.2010 were exercised by the employee and equal number of
 shares were allotted to him on 2nd March 2011.
 
 Accounting of ESOS
 
 The fair market price per equity share of the company on the date of
 vesting, i.e., 1st December 2007, 1st December 2008 and 1st September
 2010 was Rs.296.80, Rs.86.95 & Rs. 107.65 respectively. On vesting, the
 excess of fair market price over the price paid by the employees, per
 scheme, is charged to Profit and Loss Account by crediting Stock
 Options Outstanding Reserve Account and on allotment of shares, the
 corresponding amount is transferred from Stock Options Outstanding
 Reserve Account to Securities Premium, as per the Guidance Note issued
 by The Institute of Chartered Accountants of India.
 
 12 General Permission for exemption from disclosure of foreign exchange
 earnings and expenditure with regard to shipping operations has been
 issued by Government of India.
 
 13 Previous year''s figures have been regrouped wherever necessary.