1.  Contingent Liabilities
 
                                                      (Rs. in Lakhs)
 
                           As at March 31, 2011   As at March 31, 2010
 
 Bank Guarantees/Letter 
 of Credit given                   432.50              166.42
 
 In respect of various 
 pending labour and 
 defamation               Amount not ascertainable  Amount not ascer
                                                    -tainable
 cases (In view of large 
 number of cases, it is 
 impracticable to
 disclose the details
  of each case).
 
 2. (a) Pending final disposal of various litigations initiated since
 June 2007 by a common group of shareholders hereinafiter referred to as
 Other Group against the Company in case of Jagran Publications
 Private Limited and Jagran Prakashan (MPC) Private Limited and the
 Company’s petition fled in case of former against the Other Group
 (which is in management) alleging mismanagement and oppression and
 seeking the directive against them to sell their shareholding to the
 Company at fair price or alternatively to vest the management rights
 with it, the management, on the basis of legal advice received and on
 evaluation of various developments including the decision of Company
 Law Board in its favour in one of the crucial petitions fled by Other
 Group and continuing decrease in outstanding balances considers its
 entire exposure, in both the companies, of Rs. 2,521.58 lakhs including
 equity investment of Rs.10.50 lakhs as fully realisable.  However, the
 Company, being extremely conservative, recognises interest on the loans
 granted to these companies as income only when interest is realised and
 accordingly no interest income has been recognised for the period from
 October 1, 2007 to March 31, 2011.
 
 (b) The shares held in Jagran Publications Private Limited and Jagran
 Prakashan (MPC) Private Limited are not transferable to a third party
 (i.e.  persons and body corporate not belonging to U.P. group, defined
 to be lineal descendants of late Mr. P.C. Gupta and Company in which
 not less than 51% shareholding is owned and controlled by their family
 members) without complying with certain conditions as contained in the
 Articles of Association of these two companies.
 
 (c) Pursuant to compliance of clause 32 of the Listing Agreement on
 disclosure of Loans/ Advances in the nature of loans, the relevant
 information is provided hereunder:
 
 * includes Rs. 350 Lakhs (Previous Year Rs. 350 Lakhs) non interest
 bearing loan given while the Company was a private limited Company.
 There is no stipulation for repayment.
 
 d) The Company has created certain provision, without prejudice to its
 legal rights, on the receivables under litigation though it is confident
 of realising its dues.
 
 3.  Title deeds of leasehold land at Mohali of Rs. 91.95 Lakhs
 (Previous Year Rs. 90.40 Lakhs) and Patna of Rs. 68.45 Lakhs (Previous
 Year Rs.  NIL) included in land are yet to be executed.
 
 4.  Accounting Standard 26 – Intangible Assets prescribed by the
 Companies (Accounting Standards) Rules, 2006, and the relevant
 provisions of the Companies Act, 1956, requires amortization of
 intangible assets over their estimated useful lives. In view of the
 Management, Title Dainik Jagran has an indefinite life and therefore is
 not amortised.
 
 Considering the impending convergence of Indian Accounting Standards
 with International Financial Reporting Standard (IFRS) as indicated
 by the Institute of Chartered Accountants of India, and recent press
 note from Ministry of Corporate Affairs, the Company considers it
 likely that its financial statements will also be prepared in accordance
 with IFRS over the next three years or so.
 
 Post migration to IFRS, the Company will no longer be required to
 amortize the Title but will need to test the same for impairment
 annually or earlier, if there arises a triggering event in the interim
 period. The company believes that basis its business projections, no
 impairment on such review will arise and accordingly, considering the
 above impending migration to IFRS, it has not amortized the value of
 Title of Rs 1,700 lakhs in these financial statements, as currently
 required by Accounting Standard – 26.
 
 5.  Transfer of the Print Business of Mid-Day Multimedia Limited
 
 Pursuant to the scheme of arrangement formulated under the provisions
 of Sections 391 to 394 of the Companies Act, 1956 between Mid- Day
 Multimedia Limited (MML) and Jagran Prakashan Limited (JPL), as
 approved by the Honourable High Court of Judicature at Mumbai and
 Honourable High Court of Judicature at Allahabad vide their orders
 dated October 15, 2010 and January 4, 2011 respectively, which became
 effective on January 6, 2011, the investment in Midday Infomedia
 Limited (MIL) and all the estate, assets, rights, claims, title,
 interest, licenses, liabilities and authorities including accretions
 and appurtenances of MML pertaining to the Print Business (Demerged
 Undertaking) were transferred to JPL with effect from the Appointed
 Date i.e. April 1, 2010. Pursuant to the scheme, 15,097,272 equity
 shares of Rs. 2 each have been issued to the shareholders of MML as
 consideration. Professional fees paid for the arrangement with MML of
 Rs 700 lakhs, being directly attributable to the acquisition of the
 investment, has been adjusted in the Reserve and Surplus (Schedule 2)
 from the profit and Loss Account balance.
 
 The scheme of arrangement has been accounted for in accordance with the
 approval accorded whereby the assets and liabilities pertaining to the
 Demerged Undertaking have been recorded at the respective book values
 as appearing in the books of MML as on the Appointed Date and the
 excess of the assets over the liabilities and consideration has been
 credited to capital reserve. None of the Accounting Standards notified
 under Section 211(3C) of the Companies Act, 1956, is applicable to the
 transaction.
 
 The calculation of difference between consideration and value of net
 identifiable assets acquired is as follows:
 
 * Includes net Income Tax paid of Rs. 111.27 Lakhs (net of Provision
 for Income Tax of Rs. 11.19 Lakhs) relating to the income tax
 assessments for earlier years to the extent pertaining to the print
 business of MML.
 
 6.  i) Based on the information available with the Company, there are
 no dues to micro and small enterprises as defined in the Micro, Small
 and Medium Enterprises Development Act, 2006 as at March 31, 2011.
 
 ii) Based on the information available with the Company there was
 neither any interest payable or paid to any supplier under the
 aforesaid Act and similarly there is no such amount remaining unpaid as
 at March 31, 2011.
 
 NOTES:
 
 a) Actual production of Newspaper includes 853.03 Lakhs (789.55 Lakhs)
 copies for free distribution, advertisement promotion, voucher files and
 unsold copies.
 
 b) **Turnover with respect to Advertisements comprises revenue from
 selling of advertising space .The sale of such advertisement space
 cannot be expressed in any generic unit; hence it is not possible to
 give the quantitative details of turnover.
 
 c) *** Turnover with respect to other operating Activities comprises
 revenue from Event Management, Outdoor Advertisement, Digital services
 and Job Work, which can not be expressed in terms of quantity; hence it
 is not possible to give quantitative details.
 
 d) Previous Years figures are in brackets.
 
 Note:
 
 As the future liability for gratuity and leave encashment is provided
 on an actuarial basis for the Company as a whole, separate amount
 pertaining to the directors is not ascertainable and, therefore, not
 included in above.
 
 Computation of net profits in accordance with Section 198 read with
 Section 309(5) of Companies Act, 1956 and maximum amount permissible
 for managerial remuneration payable to Directors:
 
 7.  defined benefit Plans
 
 a.  Contribution to Gratuity Funds – Employee’s Gratuity Fund
 
 b.  Leave Encashment
 
 i) In accordance with Accounting Standard 15 – Employee benefits as
 prescribed by the Companies (Accounting Standards) Rules, 2006,
 actuarial valuation was done in respect of the aforesaid defined benefit
 plans based on the following assumptions:-
 
   Estimates of future salary increases considered in actuarial
 valuation taking into account infation, seniority, promotion and other
 relevant factors such as supply and demand in the employment market.
 
 ii) The expected rate of return on plan assets is based on the average
 long-term rate of return expected to prevail over the next 15 to 20
 years on the investments made by the LIC. This is based on the
 historical returns suitably adjusted for movements in long-term
 government bond interest rates. The discount rate is based on
 approximate average yield on government bonds of tenure of nearly of 20
 years.
 
 
 iii) Changes in the Present Value of Obligation
 
 Note:
 
 Provisions for leave encashment and gratuity and related deferred
 assets acquired from MML related to certain employees of MML who were
 transferred to MIL pursuant to the scheme of arrangement under sections
 391 to 394 of Companies Act, 1956. These provisions have been
 transferred to MIL and hence not reflected in the movement above.
 
 * Disclosed as Provision for Earned Leave (Refer Schedule 11 B)
 
 Note:
 
 Fair value of plan assets is more than the present value of defined
 benefit obligation. Hence there is no unfunded obligation at the end of
 the year.
 
 Note:
 
 Breakup of plan assets as at March 31, 2011 has not been provided by
 LIC.  
 
 ix) Estimated amount of contribution to be paid to the plan within one
 year is Rs 500.00 Lakhs (Previous year Rs. 300.00 Lakhs)
 
 8. Related Parties Disclosure as required by Accounting Standard 18 –
 Related Party Disclosures prescribed by the Companies (Accounting
 Standards) Rules, 2006
 
 A Related Parties and their relationship:
 
 I Subsidiary
 
 Midday Infomedia Limited
 
 II Associates, Joint Ventures and Investments
 
 a) Jagran 18 Publication Limited (ceased 
 with effect from March 1, 2011)                     Joint Venture
 
 b) Jagran Infotech Limited (ceased with effect 
 from March 1, 2011)                                 Associate
 
 c) Xpert Publicity Private Limited                  Associate
 
 d) Leet OOH Media Private Limited                   Associate
 
 e) Jagran Publications Private Limited              Investment
 
 f) Jagran Prakashan (MPC) Private Limited           Investment
 
 
 III Trusts in control of Board
 
 a) Jagran Prakashan Limited Employees Group Gratuity Scheme Fund Trust
 
 b) Jagran Prakashan Employee Welfare Trust
 
 
 
 IV Enterprise over which Promoters, Key Management Personnel and/or
 their relatives have Significant influence and Enterprises having
 Substantial Interest
 
 1 Enterprise over which Promoters, Key Management Personnel and/or
 their relatives have Significant influence:-
 
 a) Jagmini Micro Knit Private Limited
 
 b) Classic Hosiery Private Limited
 
 c) Lakshmi Consultants Private Limited
 
 d) Jagran Media Network Investment Private Limited
 
 e) Shri Puran Multimedia Limited
 
 f) Kanchan Properties Limited
 
 g) Jagran Subscriptions Private Limited h) Om Multimedia Private
 Limited
 
 i) SPFL Securities Limited
 
 j) Rave@Moti Entertainment Private Limited
 
 k) Rave Real Estate Private Limited
 
 l) Jagran Investment Co.
 
 m) Chetna Apparels Private Limited
 
 n) MMI Online Limited
 
 o) Jagran Limited
 
 p) Jagran 18 Publication Limited q) Jagran Infotech Limited
 
 
 
 2 Enterprise having Substantial Interest in the Company
 
 a) Independent News & Media PLC, Ireland (Ceased to be related with
 effect from March 08,2010)
 
 b) Independent News & Media Investments Limited, Ireland (Ceased to be
 related with effect from March 08,2010)
 
 V Key Management Personnel:
 
 a) Mr. Mahendra Mohan Gupta      Chairman and Managing Director
 
 b) Mr. Sanjay Gupta              Whole time Director and Chief 
                                  Executive officer
 
 c) Mr. Dhirendra Mohan Gupta     Whole time Director
 
 d) Mr. Sunil Gupta               Whole time Director
 
 e) Mr. Shailesh Gupta            Whole time Director
 
 
 
 VI Key Management Personnel’s Relative and Hindu Undivided Family of
 Key Management Personnel and Firms in which Key Management Personnel
 and/ or their relatives have substantial Interest
 
 1 Key Management Personnel’s Relative:
 
 a) Mr. Yogendra Mohan Gupta      Brother of Managing Director
 
 b) Mr. Devendra Mohan Gupta      Brother of Managing Director
 
 c) Mr. Shailendra Mohan Gupta    Brother of Managing Director
 
 d) Mr. Sandeep Gupta             Brother of Whole time Director
 
 e) Mr. Sameer Gupta              Brother of Whole time Director
 
 f) Mr. Devesh Gupta              Son of Whole time Director
 
 g) Mr. Tarun Gupta               Son of Whole time Director
 
 h) Mrs. Saroja Gupta             Mother of Whole time Director
 
 i) Mrs. Vijaya Gupta             Mother of Whole time Director
 
 j) Mrs. Pramila Gupta            Wife of Managing Director
 
 k) Mrs. Madhu Gupta              Wife of Whole time Director
 
 l) Mrs. Pragati Gupta            Wife of Whole time Director
 
 m) Mrs. Ruchi Gupta              Wife of Whole time Director
 
 n) Mrs. Ritu Gupta               Wife of Whole time Director
 
 2 Hindu Undivided Families in which Key Management Personnel and/or
 their relatives have substantial Interest:
 
 a) Narendra Mohan Gupta HUF
 
 b) Sanjay Gupta HUF
 
 c) Sandeep Gupta HUF
 
 d) Mahendra Mohan Gupta HUF
 
 e) Shailesh Gupta HUF
 
 f) Yogendra Mohan Gupta HUF
 
 g) Sunil Gupta HUF h) Sameer Gupta HUF
 
 i) Shailendra Mohan Gupta HUF
 
 j) Devendra Mohan Gupta HUF
 
 k) Dhirendra Mohan Gupta HUF
 
 l) Devesh Gupta HUF
 
 m) Tarun Gupta HUF
 
 9.  Previous year’s figures have been regrouped and recast wherever
 is necessary to make them comparable to current year’s figures.