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Jaiprakash Associates

BSE: 532532|NSE: JPASSOCIAT|ISIN: INE455F01025|SECTOR: Infrastructure - General
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« Mar 14
Notes to Accounts Year End : Mar '15
1. Issued, Subscribed and Paid-up Share Capital in number comprises of
 Shares for consideration in cash 2,02,19,850 Equity Shares [Previous 
 Year 2,02,19,850] allotted under Jaypee Employees Stock Purchase Scheme 
 2002; 1,25,00,000 Equity Shares [Previous Year 1,25,00,000] allotted under
 Jaypee Employees Stock Purchase Scheme 2009;
 
 20,16,23,717 Equity Shares [Previous Year 20,16,23,717] allotted for
 cash on conversion of Foreign Currency Convertible Bonds;
 
 1,00,00,000 Equity Shares [Previous Year 1,00,00,000] allotted for cash
 to Promoters on Preferential Basis;
 
 6,42,04,810 Equity Shares [Previous Year 6,42,04,810] allotted through
 Qualified Institutional Placement as on 06.02.2013 and
 
 21,33,73,416 Equity Shares allotted through Qualified Institutional
 Placement as on 08.07.2014.
 
 Shares for consideration other than cash
 
 86,08,65,055 Equity Shares [Previous Year 86,08,65,055] allotted in
 terms of the Scheme of Amalgamation effective from 11.03.2004;
 
 12,43,78,825 Equity Shares [Previous Year 12,43,78,825] allotted in
 terms of Scheme of Amalgamation effective from 22.08.2006;
 
 21,80,10,985 Equity Shares [Previous Year 21,80,10,985] allotted
 pursuant to Scheme of Amalgamation effective from 27.05.2009 and
 
 70,72,80,317 Equity Shares [Previous Year 70,72,80,317] allotted as
 Bonus Shares .
 
 2. Terms / Rights
 
 The Company has issued only one class of equity shares having a par
 value of Rs, 2/- per share. Each holder of equity share is entitled to
 one vote per share. Each share is entitled to equal dividend declared
 by the Company and approved by the Share holders of the Company.
 
 In the event of liquidation, each share carries equal rights and will
 be entitled to receive equal amount per share out of the remaining
 amount available with the Company after making preferential payments.
 
 [b] Non Convertible Secured Debentures mentioned in Note 4.1[a] are
 redeemable at value equal to the Face Value.
 
 Non Convertible Debentures as stated in Note No. 4.1[a] above are
 further secured by way of First Charge ranking pari passu with all the
 lenders save and except AKA Export Finance Bank [Amount Outstanding as
 at 31.03.2015 - Rs, 3198 Lakhs] having prior charge on specific Fixed
 Assets, in favour of respective Debenture Trustees for the benefit of
 all Debenture Holders, on all the movable and immovable Fixed Assets of
 the company except Fixed assets pertaining to Wind Power Division, Real
 Estate Division and Fixed assets specifically charged to State
 Government /State Financial Institutions for availing interest free
 loans etc. under various schemes framed by State Governments and any
 other assets specifically charged. Further, the NCDs stated above
 alongwith term loans specified in Sl. No.4.2(b) are also secured by way
 of First Pari-Passu charge over Land of the Company admeasuring 588.42
 acres forming part of Non- Core Area at Jaypee Sports City near F-1
 Stadium, Special Development Zone (SDZ), Sector-25, Gautam Budh Nagar,
 Uttar Pradesh & First Pari-Passu charge over Land admeasuring 166.96
 Acres situated at Village Tappal, Kansera & Jahengarh, Aligarh, Uttar
 Pradesh & Land admeasuring 167.23 Acres situated at Village Chagan and
 Chhalesar, Agra, Uttar Pradesh, both land belonging to Jaypee Infratech
 Limited.
 
 security for the benefit of all lenders on all the movable and
 immovable fixed assets of the Company except Fixed Assets pertaining to
 Wind Power Division, Real Estate Division, Fixed Assets specifically
 charged to State Government / State Financial Insitutions for availing
 interest free loans etc., under various schemes framed by State
 Governments and any other assets specifically charged. Further, these
 Loans along with Debentures as mentioned in Sl No 4.1[c] are secured by
 way of First Pari-Passu charge over Land of the Company admeasuring
 588.42 acres forming part of Non- Core Area at Jaypee Sports City near
 F-1 Stadium, Special Development Zone [SDZ], Sector-25, Gautam Budh
 Nagar, Uttar Pradesh & First Pari-Passu charge over Land admeasuring
 166.96 Acres situated at Village Tappal, Kansera & Jahengarh, Aligarh,
 Uttar Pradesh & Land admeasuring 167.23 Acres situated at Village
 Chagan and Chhalesar, Agra, Uttar Pradesh both land belonging to Jaypee
 Infratech Limited. In addition to above.
 
 (1) Term Loan of Rs, 40000 Lakhs sanctioned by IFCI Ltd., [at Sl. No.
 55 above] is further secured by way of Exclusive Charge over 5.48 acres
 of Commercial Land situated at Jaypee Sports City near F1 Stadium, SDZ,
 Sector 25, Gautam Budh Nagar, Uttar Pradesh.
 
 (2) Term Loan of Rs, 150000 Lakhs sanctioned by ICICI Bank Ltd. [at Sl.
 No. 61 above] is further secured by way of (i) pari-passu charge on all
 immovable properties admeasuring 100 acres of Land of Jaypee Infratech
 Ltd., situated at Village - Tappal, Tehsil - Khair, Distt. - Aligarh,
 Uttar Pradesh together with all buildings and structures thereto and
 all Plant & Machinery attached to the earth or permanently fastened to
 anything attached to the earth, both present and future (ii) pledge of
 18,93,16,882 equity shares of the Company held in various Trusts on
 pari passu charge on basis with Rupee Term Loan of Rs, 130000 Lakhs
 sanctioned by ICICI Bank Ltd. [at Sl. No. 8 above].
 
 (3) Term Loan of Rs, 75000 Lakhs [at Sl.No.43 above] sanctioned by
 State Bank of India is further secured by way of [i] exclusive charge
 over 22.2078 acres of Commercial Land situated at Jaypee Sports City
 near F1 Stadium, SDZ, Sector 25, Gautam Budh Nagar, Uttar Pradesh. [ii]
 pledge of 10 crores equity shares of Jaypee Infratech Ltd., held by
 Jaiprakash Associates Ltd. (iii) second pari passu charge on current
 assets of the Company.
 
 (4) Term Loan of Rs, 150000 Lakhs sanctioned by ICICI Bank Ltd.(at
 S.No. 63 & 64 above), is further secured by way of (i) pari-passu
 charge (alongwith term loan specified at Sl.No. 4.2 [b] (2)) on all
 immovable properties admeasuring 100 acres of Land of Jaypee Infratech
 Ltd., situated at Village - Tappal, Tehsil - Khair, Distt. - Aligarh,
 Uttar Pradesh (ii) Residual charge (subsequent to working lenders) by
 way of hypothecation of the Borrower''s receivables (iii) Exclusive
 charge on land admeasuring - 144.026 acres and 5.974 acres situated at
 Village Aurangpur, U.P., 283.345 acres situated at Village Jaganpur,
 Afjalpur, UP, 151.006 acres situated at Village Jirkanpur, Tehsil
 Khair, Dist.  Aligarh, U.P., all belonging to Jaypee Infratech Limited.
 
 (5) Term Loan of Rs, 50000 Lakhs sanctioned by Canara Bank (at S.No. 66
 above) is further secured by way of pari passu Charge over 25.007 acres
 of Commercial Land situated at Jaypee Sports City near F1 Stadium, SDZ
 Sector-25, Gautam Budh Nagar, Uttar Pradesh.
 
 [c] Term Loans of Rs, 21300 Lakhs [Amount outstanding - Rs, 18933
 Lakhs] sanctioned by Export Import Bank of India are secured by First
 Charge ranking pari passu with all the lenders save and except AKA
 Export Finance Bank [Amount Outstanding as at 31.03.2015 - Rs, 3198
 Lakhs] having prior charge on specific Fixed Assets, in favour of Axis
 Trustee Services Limited [Security Trustee], holding security for the
 benefit of all lenders, on all the Movable Fixed Assets of the Company
 except movable Fixed Assets pertaining to Wind Power Division, Real
 Estate Division, Fixed Assets specifically charged to State Government
 / State Financial Insitutions for availing interest free loans etc.,
 under various schemes framed by State Governments and any other assets
 specifically charged.
 
 [d] Term Loans sanctioned by ICICI Bank - Rs, 130000 Lakhs, Bank of
 Maharastra - Rs, 30000 Lakhs, Canara Bank - Rs, 50000 Lakhs, Yes Bank
 Ltd. - Rs, 20000 Lakhs, aggregating to Rs, 230000 Lakhs [Amount
 outstanding Rs, 189911 Lakhs] together with all interest, liquidated
 damages, premia on prepayment or on redemption, costs, expenses and
 other monies, stipulated in the Loan Agreements are secured by way of
 Subservient charge on all the fixed Assets of the company except the
 fixed assets pertaining to Wind Power Division, Real Estate Division
 and Fixed assets specifically charged to State Government /State
 Financial Institutions for availing interest free loans etc. under
 various schemes framed by State Governments. In addition to above.
 
 (1) Term loan of Rs, 130000 Lakhs sanctioned by ICICI Bank is further
 secured by way of (i) pledge of 18,93,16,882 equity shares of the
 Company held in various Trusts on first pari passu charge on basis with
 Rupee Term Loan of Rs, 150000 Lakhs sanctioned by ICICI Bank Ltd., (ii)
 pledge of 7,50,000 - 11% Cumulative Preference Shares of Himalyan
 Expressway Limited and (iii) pledge of 1,02,12,000 12% Preference
 Shares of Jaypee Agra Vikas Ltd., owned by the Company.
 
 (2) Term Loan of Rs, 50000 Lakhs sanctioned by Canara Bank is further
 secured by way of pari-passu charge over 25.007 acres of Commercial
 Land situated at Jaypee Sports City near F1 Stadium, SDZ Sector-25,
 Gautam Budh Nagar, Uttar Pradesh.
 
 (3) Term Loan of Rs, 20000 Lakhs sanctioned by Yes Bank Ltd. is further
 secured by way of exclusive charge over 11.3095 acres of Commercial
 Land situated at Jaypee Sports City near F1 Stadium, SDZ Sector-25,
 Gautam Budh Nagar, Uttar Pradesh.
 
 [e] Term Loans sanctioned by SREI Rs, 1000 Lakhs [Amount outstanding
 Rs, 805 Lakhs] & TATA Motors Finance Ltd. Rs, 342 Lakhs [Amount
 Outstanding Rs, 303 Lakhs] together with all interest, liquidated
 damages, premia on prepayment or on redemption, costs, expenses and
 other monies, stipulated in the Loan Agreements secured by way of
 exclusive charge over certain Equipments of the Company.
 
 [f] Term Loans sanctioned by SREI - Rs, 9500 Lakhs [Amount outstanding
 Rs, 5498 Lakhs] together with all interest, liquidated damages, premia
 on prepayment or on redemption, costs, expenses and other monies,
 stipulated in the Loan Agreements secured by way of exclusive charge on
 specific movable Fixed Assets at Amelia Coal Block.
 
 [g] Term Loans sanctioned by Axis Bank Ltd. Rs, 35000 Lakhs, The South
 Indian Bank Rs, 10000 Lakhs and State Bank of Travancore Rs, 15000
 Lakhs aggregating of Rs, 60000 Lakhs [Amount outstanding Rs, 52821
 Lakhs] together with all interest, liquidated damages, premia on
 prepayment or on redemption, costs, expenses and other monies,
 stipulated in the Loan Agreements secured by way of (i) First Charge
 ranking Pari Passu basis on 17.52 acres of Hotel & Commercial Land
 purchased from Jaypee Infratech Ltd. in Village - Wazidpur, Sector
 -129, Noida. Entire Sale consideration has been paid by the Company to
 Jaypee Infratech Limited and (ii) First Charge ranking Pari Passu over
 10 acres of Commercial Land of Jaypee Infratech Ltd. situated at Sector
 - 128, Noida.
 
 [h] External Commercial Borrowing of USD 27 Million and Yen 1030.27
 Million availed [Amount outstanding USD 6.629 Million and Yen 284.551
 Million equivalent to Rs, 5306 Lakhs] from ICICI Bank Ltd for setting
 up of Wind Power Project in Maharashtra & Gujarat together with all
 interest, liquidated damages, premia on prepayment or on redemption,
 costs, expenses and other monies, stipulated in the Loan Agreements, is
 secured by equitable mortgage of immovable properties and Hypothecation
 of movable assets of Wind Power Project [present and future], save and
 except book debts subject to prior charge on specified movables created
 in favour of the Company''s Bankers for working Capital facilities.
 
 [i] Term Loans sanctioned by Standard Chartered Bank Rs, 40000 Lakhs
 and Rs, 45000 Lakhs [Amount outstanding Rs, 57100 Lakhs] are secured
 against first charge ranking pari passu by way of equitable mortgage by
 deposit of title deed over the land admeasuring 355.84 acres at Jaypee
 Greens Golf Course, Greater Noida, Uttar Pradesh and collaterally
 secured by first charge ranking pari passu by way of Registered
 mortgage over land of Jaypee Infratech Ltd. admeasuring 40.1735 acres
 (residential 25.0040 acres and commercial 15.1695 acres) situated at
 village Sultanpur, Noida, Uttar Pradesh and Village Wazidpur, Noida,
 Uttar Pradesh. Out of the said 40.1735 acres of land, the Company has
 entered into an Agreement to Sell with Jaypee Infratech Limited on
 15.12.2009 for purchase of 15.1695 acres of commercial land and entire
 sale consideration has been paid to Jaypee Infratech Limited.
 
 [j] Term Loan sanctioned by HDFC Limited Rs, 45000 Lakhs [Amount
 outstanding Rs, 33089 Lakhs] is secured against first & exclusive
 charge by way of Registered Mortgage over (a) Leasehold property
 admeasuring project land of 14.20 acres at Jaypee Greens which is part
 and parcel of 452.26 acres of the integrated Township Jaypee Greens
 Greater Noida, U.P.  alongwith construction thereon both present and
 future (b) Leasehold property admeasuring 38.20 acres at Noida, U.P.
 designated for the construction of Kalyspo Court 1-10 (B-1), Kalyspo
 Court 11,12,14,15,16 (B-3), imperial Court 1-3 (B-2) Pelican (PD-1 &
 PD-2) in the integrated Township in the name and style of Wish Town,
 Noida, U.P. The said land is registered in the name of Jaypee Infratech
 Limited and entire sale consideration has been paid by the Company to
 Jaypee Infratech Limited. and (c) First Charge on Project Land/FSI of
 11,01,954 Sq. feet of B 10, Suncourt A & Town Centre Residential in
 Jaypee Greens, Greater Noida with construction thereon, present and
 future.
 
 [k] Term Loan sanctioned by Standard Chartered Bank - Rs, 35000 Lakhs,
 Allahabad Bank - Rs, 10000 Lakhs, Karur Vysya Bank - Rs, 5000 Lakhs,
 The South Indian Bank - Rs, 10000 Lakhs and United Bank of India - Rs,
 15000 Lakhs aggregating to Rs, 75000 Lakhs [Amount Outstanding - Rs,
 71144 Lakhs] are secured by way of exclusive First Charge on pari-
 passu basis over 65.0263 Acres of Commercial Land situated at Jaypee
 Sports City near F1 Stadium, SDZ Sector-25, Gautam Budh Nagar, U.P.
 
 [l] Term Loan sanctioned by Yes Bank Ltd. - Rs, 52500 Lakhs [Amount
 Outstanding - Rs, 52500 Lakhs] is secured by way of exclusive charge
 over 18.02 acres of Commercial Land situated at Jaypee Sports City near
 F1 Stadium, SDZ Sector-25, Gautam Budh Nagar, Uttar Pradesh.
 
 [m] Term loans of Rs, 89500 Lakhs sanctioned [Outstanding Rs, 59915
 Lakhs] SBLCs Rs, 32597 Lakhs [Outstanding Rs, 32597 Lakhs] and Bank
 Guarantee Rs, 10000 Lakhs (Outstanding Rs, 10000 Lakhs) sanctioned by
 Banks and IFCI Limited are secured by first charge ranking pari-passu
 on all immovable and movable fixed assets pertaining to the core area
 sports infrastructure project [both present and future] and second
 pari-passu charge on all current assets including receivables
 pertaining to the aforesaid sports infrastructure project, subject to
 first charge of the working capital lenders (exclusive of SBLCs Rs,
 32597 Lakhs).
 
 [n] Term loan of Rs, 15,000 Lakhs [Outstanding Rs, 8,824 Lakhs]
 sanctioned by ICICI Bank Limited is secured by mortgage of non core
 area land admeasuring 25 Acres at Sector - 25, along Yamuna Expressway,
 Gautam Buddh Nagar, second charge on all immovable & movable assets of
 core area sports infrastructure project.
 
 [o] Term loan of Rs, 25,000 Lakhs [Outstanding Rs, 23,437 Lakhs]
 sanctioned by IndusInd Bank Limited, is secured by mortgage of non core
 area land admeasuring 23.81 Acres at Sector - 25, along Yamuna
 Expressway, Gautam Buddh Nagar, first pari-passu charge on 1.8329 Acres
 Land [B-Type Building] at Jaypee Greens, Greater Noida and first charge
 on all book debts / receivables pertaining to Real Estate business of
 the Company on Land situated at Jaypee Sports City, SDZ, Sector 25,
 Gautam Budh Nagar, Uttar Pradesh.
 
 [p] Security includes security created / yet to be created.
 
 [q] Outstanding amount of loans from Banks and Financial Institutions
 included in current maturities of long term debts and unpaid debentures
 [Refer Note No 10 - OTHER CURRENT LIABILITIES] as at 31.03.2015
 includes principal overdues amounting to Rs, 47175 Lakhs and interest
 accrued and due on borrowings & unpaid matured debentures includes
 interest overdues amounting to Rs, 53813 Lakhs, both principal and
 interest overdues pertain to the period January, 2015 to March, 2015.
 
 [r] Loans at Sl. No. 5, 7, 10, 15, 25, 31, 32, 50, 55, & 60 in 4.2[a]
 above are partly / fully paid before their respective due dates.
 
 3. Loans from State Government :
 
 [i] Interest Free Loans granted by U. P. Financial Corporation (UPFC)
 under Audyogik Nivesh Protshahan Yojna Scheme at Grinding Unit in Tanda
 (U.P.) are secured by way of First Charge on the Fixed Assets of the
 above said Unit of the Company. The same is repayable on or before
 completion of 10 years from the day on which it is received. Repayment
 will commence from F.Y. 2016-17.
 
 [ii] Interest free loan granted by Directorate of Industries, Panipat,
 Haryana at Grinding Unit in Panipat (Haryana) is secured against Bank
 Guarantee. The same is repayable on or before completion of 5 years
 from the day on which it is received. Repayment has commenced from F.Y.
 2014-15.
 
 [iii] Interest Free Loans granted by Pradeshiya Industrial & Investment
 Corporation Limited at Grinding Unit in Sikandrabad (U.P.) is secured
 against Bank Guarantee. The same is repayable on or before completion
 of 10 years from the day on which it is received. Repayment will
 commence from F.Y. 2022-23.
 
 4. Advances from Clients includes loan granted by Client for purchase
 of Plant & Machinery for the Contract on Hypothecation of Construction
 Material and Plant & Equipment.
 
 5. Details of Foreign Currency Convertible Bonds (Unsecured) at Note
 No.4[II]A are given as under :
 
 The Company has issued 1,50,000, 5.75% Foreign Currency Convertible
 Bonds [FCCB-2012] of USD 1,000 each aggregating to USD 150 Million at
 par on 07.09.2012. These Bonds are convertible at the option of
 bond-holders into equity shares of Rs, 2/- each fully paid at the
 conversion price of Rs, 77.50 per share, subject to the terms of issue,
 with a fixed rate of exchange of Rs, 55.67 equal to USD 1.00 at any
 time on or after 18.10.2012 and prior to the close of business on
 01.09.2017.
 
 No conversion has taken place during F.Y. 2014-15 [Previous Year Nil].
 Unless previously converted, the bonds are redeemable at maturity on
 08.09.2017.
 
 6. Jaypee Infratech Limited [subsidiary company] has provided a
 letter of Comfort to ICICI Bank UK Plc [at Sl. No 2 above] and ICICI
 Bank Canada [at Sl. No 3 above] for the financial assistance of GBP
 34.84 Million [equivalent to USD 50 Million] and CAD 61.625 Million
 [equivalent to USD 50 Million] respectively.
 
 7. External Commercial Borrowing from State Bank of India, Hongkong
 Branch [at Sl. No 4 above] has been secured by way of Corporate
 Guarantee by Jaiprakash Power Ventures Ltd. [JPVL], a subsidiary
 Company.
 
 8. [i] Unsecured compulsorily convertible term loan of Rs, 25000 Lakhs
 [Outstanding Rs, 25000 Lakhs] sanctioned by ICICI
 
 Bank Limited is repayable on 16.08.2020. Jaypee Infratech Limited,
 subsidiary company, has given an undertaking to ICICI Bank Limited to
 exercise the option to purchase the outstanding amount of the said
 facility after five years from the first drawdown date i.e. 17.08.2010
 or on occurrence of the events as stipulated in the terms & conditions
 of the sanction.
 
 [ii] Unsecured Loan taken from Banks at Note No.4[II]C is Loan taken
 from SIDBI in foreign currency [Amount Outstanding Rs, 13821 Lakhs
 (Previous Year Rs, 19932 Lakhs)] repayable in 14 equal half yearly
 installments from 30.06.12 to 30.12.18.
 
 9. The Company accepted Fixed Deposit till 31.03.2014 under Fixed
 Deposits Scheme from Public which are repayable in one year, two years
 and three years. In accordance with relevant provisions of Companies
 Act, 2013, the Company is repaying Fixed Deposits accepted from Public.
 
 10. Deferred payment of Land is the amount payable to Yamuna Expressway
 Industrial Development Authority [YEIDA] by way of half yearly
 instalments for the land admeasuring 1085.3327 hectares [Inclusive of
 99.9320 hectares for Village Development and Abadi Extension] allotted
 to the Company. Lease Deeds in respect of 965.7390 hectares have been
 executed and lease Deeds for the balance 19.6617 hectares are yet to be
 executed, whereas land about 14.5993 hectares remains to be allotted.
 Current maturities of long term debts includes principal overdue Rs,
 6637 Lakhs and interest accrued and due on borrowings includes interest
 overdues Rs, 4195 Lakhs payable to the Authority.
 
 11. Secured Term Loans from Banks:
 
 (i) Short Term Loan of Rs, 35000 Lakhs sanctioned by Axis Bank Limited
 [Amount Outstanding Rs, 35000 Lakhs] is secured by way of (i) exclusive
 charge over A-2 Building [5 Star Resort cum SPA] admeasuring 30813.0
 Sq. Meters [7.603 Acres] land along with building constructed thereon
 and other assets such as furniture and fixtures, equipments, machinery
 - fixed and movable, structures and any other assets situated at Jaypee
 Greens, Greater Noida, (ii) subservient charge on all movable Fixed
 Assets and Current Assets of the Company.
 
 (ii) Short Term Loan of Rs, 50000 Lakhs [Amount Outstanding Rs, 50000
 Lakhs] sanctioned by Axis Bank Limited is secured by way of Corporate
 Guarantee of UltraTech Cement Ltd.
 
 (iii) Short Term Loan of Rs, 100000 Lakhs [Amount Outstanding Rs,
 100000 Lakhs] sanctioned by State Bank of India is secured by way of
 (i) exclusive charge over 57.13 acres of Land situated at Sector-25,
 SDZ, Jaypee Sports City on Yamuna Expressway, Village - Aurangpur &
 Gunpura, Tehsil-Sadar, Distt. - Gautam Budh Nagar, Uttar Pradesh (ii)
 Charge/Lien to the extent of 1.50 times of the Loan Amount on an Escrow
 Account with State Bank of India (iii) Subservient Charge on the Fixed
 Assets of the Company except assets specifically charged to Lenders.
 
 12. Working Capital Loans:
 
 (i) The Working Capital facilities [Fund based - Rs, 500 Crores. and
 Non Fund based - Rs, 4265 Crores.] sanctioned by the Consortium of 19
 member Banks with Canara Bank, as Lead, are secured by way of first
 charge ranking pari passu on Current Assets of the Company i.e.
 Hypothecation of Stocks of Raw Materials, Work-in-Progress, Stock-
 in-Process, Finished Goods, Stores & Spares and Book Debts and second
 charge ranking pari passu on the Fixed Assets of the Company [except
 Fixed Assets pertaining to Wind Power Division, Real Estate Division
 and Fixed assets specifically charged to State Government /State
 Financial Institutions for availing interest free loans etc.] and other
 assets specifically charged on specific loans. Further IDBI Bank Ltd.
 have converted their Non Fund Based Limits [within Consortium] into
 Fund Based Limits to the extent of Rs, 38500 Lakhs [Amount Outstanding
 Rs, 32678 Lakhs].
 
 (ii) Working Capital facility include Pre Shipment Credit by Standard
 Chartered Bank which is secured by way of first charge ranking pari
 passu by way of equitable mortgage over the land admeasuring 355.84
 acres at Jaypee Greens Golf Course, Greater Noida, Uttar Pradesh along
 with Term Loans sanctioned by Standard Chartered Bank Rs, 40000 Lakhs
 and Rs, 45000 Lakhs [Amount outstanding Rs, 57100 Lakhs].
 
 (iii) Working Capital facility also include Buyer''s Credit etc., to the
 extent of Rs, 20056 Lakhs availed from Working Captial consortium
 member Banks out of limit sanctioned to the Company and other Banks.
 
 13. Bill Discounting from SIDBI is secured by way of residual charge on
 current assets of the Company.
 
 NOTE No. 14.
 
 The Trusts are holding 18,93,16,882 Equity Shares [Previous Year
 18,93,16,882] of Rs, 2/- of Jaiprakash Associates Limited, the sole
 beneficiary of which is the Company. [The Market Value of Shares held
 in Trusts is Rs, 46,951 Lakhs (Previous Year Rs, 1,01,663 Lakhs)]
 
 NOTE No. 15.
 
 All Investments are Non-trade Investments.
 
 NOTE No. 16.
 
 Since the Market Rate of Saket Project Limited was not available in any
 of the Stock Exchanges, Market Value has been considered equivalent to
 Face Value.
 
 17. Term Deposits with Maturity more than twelve months includes Rs,
 440 Lakhs [Previous Year Rs, 197 Lakhs] pledged as Guarantees / Margin
 Money with Banks and Others.
 
 18. Term Deposits with Original Maturity less than three months
 includes Rs, 7 Lakhs [Previous Year Rs, 94 Lakhs] pledged as Guarantees
 / Margin Money with Banks and Others.
 
 19. Term Deposits with Maturity less than twelve months includes Rs,
 14527 Lakhs [Previous Year Rs, 14387 Lakhs] pledged as Guarantees /
 Margin Money [including Rs, Nil Lakhs (Previous Year Rs, 345 Lakhs)
 pledged as margin money for Performance Guarantees] with Banks and
 Others.
 
 20. Balances with Banks in Current Account in Foreign Currency
 includes Iraqi Dinars 27,377 Million equivalent to Rs, 10 Lakhs which
 are not available for use by the Company.
 
 21. Term Deposits with Maturity less than twelve months includes Rs,
 16000 Lakhs [Previous Year Rs, 16000 Lakhs] earmarked for repayment of
 Public Deposits.
 
 NOTE No.22.
 
 A Pursuant to the Scheme sanctioned by Hon''ble High Court of Judicature
 at Allahabad u/s Section 391/394 of the Companies Act,1956 on 14th
 September, 2015, Jaypee Sports International Limited (100% subsidiary
 of the Company, now Transferor Company) engaged in business of
 development of Special Development Zone with sports as core activity
 and development of Real Estate stand merged as going concern with the
 company (Transferee Company).  Accordingly, all Assets and Liabilities
 of the above said Undertakings have been transferred w.e.f Appointed
 date i.e. April 1st, 2014 and the Scheme has come into effect from 16th
 October, 2015 on filing of the Scheme with the Registrar of Companies,
 Kanpur.
 
 With effect from the Appointed date, all the business undertakings,
 assets, liabilities, rights and obligations of the Transferor Company
 stood transferred to and vested in the Transferee Company in lieu of
 shares so held by it in the Transferor Company. Upon the scheme
 becoming effective, all the shares, both preference and equity,
 beneficially held by the Transferee Company, stand cancelled.
 
 As per the Scheme all the business and activities carried out are for
 the benefit of and in trust for the Transferee Company from the
 Appointed date. Thus, the profit or income accruing or arising to the
 Transferor Company or expenditure or losses arising or incurred by them
 from the Appointed date are treated as profit or income or expenditure
 or loss as the case may be of the Transferee Company. The Scheme has
 accordingly been given effect to in these accounts.
 
 The Amalgamation has been accounted as per the Purchase method as
 prescribed by Accounting Standard [AS 14] - Accounting for
 Amalgamations issued by the Institute of Chartered Accountants of India
 and as notified by the Companies (Accounting Standards) Rules, 2006.
 Accordingly, the assets, liabilities and reserves of the Transferor
 Company have been taken over at their fair values in accordance with
 Para 36 to 39 of the said Accounting Standard and are detailed below:
 
 The consideration is discharged in lieu of the shares so held by the
 Company in the Transferor Company.  B Debenture redemption reserve Rs,
 2500 Lakhs, being a statutory reserve has been transferred from
 Transferor Company, correspondingly debiting amalgamation adjustment
 account. The same has been reversed on payment of debentures during the
 year for which reserve was created by the Transferor Company.
 
 Pursuant to sanction of the Scheme of Amalgamation:
 
 Authorised Share Capital of the Company stands increased as under:
 
 Equity Share Capital 16,094,000,000 Equity Shares of
 
 Rs, 2/- each Preference Share Capital 28,120,000 Preference Shares of
 
 Rs,100/- each In view of the aforesaid amalgamation effective from
 01.04.2014, the figures for the current year are not comparable
 with those of the previous year.
 
 [b] Securities:
 
 [i] 1,67,59,88,510 Equity Shares of Rs, 10/- each fully paid-up
 [Previous Year 1,65,67,21,000 Equity Shares] of Jaiprakash Power
 Ventures Limited [JPVL] are pledged as collateral security and has
 given Non disposal undertaking of 10,21,89,000 Equity Shares of Rs,
 10/- each [Previous Year 11,79,20,000 Equity Shares] for the financial
 assistance granted by Lenders to JPVL for specific projects.
 
 [ii] The Company has pledged 70,83,56,087 Equity Shares of Rs, 10/-
 each fully paid-up [Previous Year 70,83,56,087 Equity Shares] of Jaypee
 Infratech Limited (JIL) with IDBI Trusteeship Services Limited (ITSL)
 (Trustee) held by the Company in favour of ITSL as collateral security
 for the financial assistance to JIL. The Company has also given
 Promoter support undertaking to IDBI led consortium loan. Outstanding
 amount as at 31.03.2015 is Rs, 6,55,000 Lakhs.
 
 [iii] 3,54,27,000 Equity Shares of Rs, 10/- each fully paid-up
 [Previous Year 3,54,27,000 Equity Shares] of Himalyan Expressway
 Limited [HEL] held by the Company are pledged as collateral security
 for financial assistance granted by the Lenders to HEL.
 
 [iv] Nil Equity Shares of Rs, 10/- each fully paid-up [Previous Year
 15,20,00,000 Equity Shares] of Jaypee Sports International Limited
 [JPSI] pledged as collateral security for financial assistance granted
 to JPSI.
 
 [v] 1,83,67,347 Equity Shares of Rs, 10/- each fully paid-up [Previous
 Year 1,83,67,347 Equity Shares] of Madhya Pradesh Jaypee Minerals
 Limited [MPJPML] pledged as collateral security for financial
 assistance granted by the lenders to MPJPML.
 
 Letter of Credit includes Rs, Nil (Previous Year Rs, 3710 Lakhs) given
 on behalf of Subsidiaries/Joint Ventures/Associates.
 
 [c] The Company has imported Capital Goods under Export Promotion
 Capital Goods Scheme [EPCG], where-under the Company is required to
 fulfill export obligation/deemed exports amounting to Rs, 24060 Lakhs
 [Previous Year Rs, 24100 Lakhs]. The Liability amounting to Rs, 4775
 Lakhs [Previous Year Rs, 4780 Lakhs] on account of custom duty may
 arise alongwith interest @15% p.a., in the event of non-fulfillment of
 export obligation.
 
 [vi] 30,00,000 Equity Shares of Rs, 10/- each fully paid-up [Previous
 Year 30,00,000 Equity Shares] of MP Jaypee Coal Limited [MPJCL] pledged
 as collateral security for financial assistance granted by the lenders
 to MPJCL.
 
 [vii] 8,21,40,000 Equity Shares of Rs, 10/- each fully paid-up
 [Previous Year 8,21,40,000 Equity Shares] of Jaypee Agra Vikas Limited
 [JAVL] pledged as collateral security for financial assistance granted
 by the lenders to JAVL.
 
 [viii] The Company has executed non disposal undertaking for
 12,00,00,000 Equity Shares [Previous Year 12,00,00,000 Equity Shares]
 of Jaypee Infratech Limited held by the Company in favour of lenders as
 collateral security for the financial assistance to Jaypee Fertilizers
 & Industries Limited. Further, the Company has given first pari passu
 charge on 1.85329 acres Land [B-Type Building] at Jaypee Greens,
 Greater Noida for financial assistance to Jaypee Fertilizers &
 Industries Limited and Jaypee Sports International Limited amounting to
 Rs, 210 crores and Rs, Nil respectively [Previous Year Rs, 210 crores
 and Rs, 250 crores respectively] by IndusInd Bank.
 
 [ix] The Company has given Letter of Comfort to ICICI Bank for Non
 Convertible Debentures issued by Jaiprakash Power Ventures Limited.
 Value of debentures yet to be redeemed as at 31.03.2015 is Rs, 24513
 Lakhs [Previous Year Rs, 73685 Lakhs].
 
 [x] The Company has given Letter of Comfort to Banks for financial
 assistance taken by Jaiprakash Power Ventures Limited. Outstanding
 amount as at 31.03.2015 is Rs, 161927 Lakhs.
 
 [xi] The Company has given Letter of Comfort for Non Convertible
 Debentures issued by Jaypee Infratech Limited.  Value of debentures yet
 to be redeemed as at 31.03.2015 is Rs, 50000 Lakhs [Previous Year Rs,
 50000 Lakhs].
 
 [xii] The Company has given Letter of Comfort to SREI Infrastructure
 Finance Limited for providing financial assistance to Himalyaputra
 Aviation Limited. Outstanding amount as at 31.03.2015 is Rs, 1564 Lakhs
 [Previous Year Rs, 1938 Lakhs].
 
 [xiii] The Company has given shortfall undertaking to Banks for
 providing financial assistance to Bhilai Jaypee Cement Limited.
 Outstanding amount as at 31.03.2015 is Rs, 12,116 Lakhs [Previous Year
 Rs, 24000 Lakhs].
 
 [xiv] The Company has given shortfall undertaking to Banks & Financial
 Institutions for Term Loan & Non Fund based Limit provided to Kanpur
 Fertilizers & Cement Limited. Outstanding amount of loan as at
 31.03.2015 is Rs, 52100 Lakhs [Previous Year Rs, 33125 Lakhs] and
 outstanding amount of Non Fund based limit utilized as at 31.03.2015 is
 Rs, 34333 Lakhs [Previous Year Rs, 32353 Lakhs].
 
 [xv] The Company has given shortfall undertaking to Banks for providing
 financial assistance to Jaypee Cement Corporation limited. Outstanding
 amount as at 31.03.2015 is Rs, 11140 Lakhs [Previous Year Rs, 15000
 Lakhs].
 
 NOTE No.23
 
 The Company has pledged Nil Equity Shares [Previous Year 20,35,000
 Equity Shares] held in Delhi Gurgaon Super Connectivity Limited to
 HUDCO as Security for Loans granted by Lenders to Delhi Gurgaon Super
 Connectivity Limited.
 
 NOTE No.24.
 
 Letter of Credit facility taken from Axis Bank Limited - Rs, Nil Lakhs
 [Previous Year Rs, 10000 Lakhs] is secured by way of Subservient charge
 on the Current Assets of the company.
 
 NOTE No.25.
 
 In the opinion of Board of Directors, Assets other than Fixed Assets
 and Non-Current Investments have a value on realisation in the ordinary
 course of business at least equal to the amount at which they are
 stated in the Balance Sheet.
 
 [ii] Deferred Tax [Net Credit] amounting to Rs, 55325 Lakhs [Previous
 Year (Net Credit) Rs, 11846 Lakhs] has been recognised in the Statement
 of Profit & Loss for the year ended 31st March, 2015.
 
 The above information is based on information available with the
 Management
 
 NOTE No.26.
 
 In compliance of Accounting Standard-2, the Company has provided
 liability of Excise Duty amounting to Rs, 1721 Lakhs [Previous Year Rs,
 1173 Lakhs] on the stocks of Finished Goods lying at Works. However,
 there is no impact on the profit for the current year.
 
 The Excise Duty of Rs, 123 Lakhs [Previous Year Debit Rs, 1182 Lakhs]
 related to difference between Closing and Opening Stock has been
 credited in the Statement of Profit & Loss.
 
 * Retention Money [Outstanding] is after adjusting amounts released
 against furnishing of Bank Guarantees The above information is in
 respect of Contracts entered into on or after 01.04.2003.
 
 
 NOTE No. 27.
 
 The External Commercial Borrowings [ECBs] outstanding as on 31.03.2015
 of USD 32.50 million, USD 6.629 million, JPY 284.551 million, GBP 5.801
 million, CAD 10.261 million and USD 140 million are hedged in respect
 of coupon as well as repayment. JPY to USD leg for above said ECB of
 JPY 284.551 million is unhedged.
 
 Foreign Currency Convertible Bonds [2012] outstanding USD 110.40
 million, Long Term Borrowings from Banks / Financial Institutions
 outstanding Euro 20.20 million & USD 5.071 million and Short Term
 Borrowings from Banks / Financial Institutions outstanding USD 31.600
 million & Euro 0.50 million are unhedged as at 31.03.2015.
 
 NOTE No.28.
 
 The Scheme of Arrangement between Jaypee Cement Corporation Limited,
 wholly owned subsidiary of the Company and Ultratech Cement Limited for
 sale of Gujarat Cement Plant comprising an integrated 2.4. MTPA Cement
 Plant at Kutch and 2.4 MTPA Cement Grinding Unit at Wanakbori has been
 completed on 12th June, 2014. In terms of the Scheme, 1,41,637 equity
 shares of Rs, 10/- each, fully paid up of Ultratech Cement Limited have
 been allotted to the Company as per the Scheme of Arrangement for the
 capital held by the Company in Jaypee Cement Corporation Limited.
 
 NOTE No.29.
 
 The Company has sold 74% stake (9,89,01,000 equity shares owned by it)
 in the paid-up equity share capital of Bokaro Jaypee Cement Limited
 (BoJCL) [a joint venture between the Company and Steel Authority of
 India Ltd.] to M/s. Shri Rangam Securities & Holdings Limited, an
 Associates / Affiliates of M/s Dalmia Cement (Bharat) Limited, for
 overall consideration of Rs, 66756 Lakhs. Profit on said transaction
 aggregating Rs, 48071 Lakhs has been included in Profit on sale of
 non-current investments.
 
 NOTE No 30.
 
 (i) The Board of Directors have approved Implementation Agreement and
 Scheme of Arrangement with UltraTech Cement Limited [UTCL] for transfer
 of two of its Cement Plants with an aggregate grinding capacity of 4.9
 Mn TPA and 180 MW Captive Thermal Power Plants at Bela and Sidhi in
 Madhya Pradesh to UTCL.
 
 The transaction is subject to the approval of Shareholders and
 Creditors, sanction of the Scheme of Arrangement by the High Courts,
 approval of the Competition Commission of India and all other Statutory
 approvals. The Scheme have been approved by Shareholders and Creditors
 in the Court convened meeting held on 16th May, 2015.
 
 (ii) The Company has entered into a Business Transfer Agreement with
 M/s Shree Cement Limited for sale of Company''s 1.5 MTPA Cement Grinding
 Unit at Panipat, Haryana. The transaction has been consummated on 27th
 April, 2015.
 
 (iii) The carrying amount of assets and liabilities of the
 discontinuing units [as mentioned in (i) to (ii) above] are Rs, 428365
 Lakhs [Previous Year Rs, 452580 Lakhs] and Rs, 130593 Lakhs [Previous
 Year Rs, 168453 Lakhs] respectively. The following statement shows the
 revenue and expense of continuing and discontinuing operations:
 
 NOTE No.31.
 
 Related Parties disclosures, as required in terms of Accounting
 Standard [AS] 18 are given below:
 
 Relationships
 
 [a] Subsidiary Companies [including their subsidiaries]:
 
 [i] Jaiprakash Power Ventures Limited
 
 [ii] Jaypee Infratech Limited
 
 [iii] Himalyan Expressway Limited
 
 [iv] Jaypee Ganga Infrastructure Corporation Limited
 
 [v] Jaypee Sports International Limited *
 
 [vi] Jaypee Agra Vikas Limited
 
 [vii] Jaypee Cement Corporation Limited
 
 [viii] Jaypee Fertilizers & Industries Limited
 
 [ix] Himalyaputra Aviation Limited
 
 [x] Jaypee Assam Cement Limited
 
 [xi] Sangam Power Generation Company Limited [subsidiary of Jaiprakash
 Power Ventures Limited]
 
 [xii] Prayagraj Power Generation Company Limited [subsidiary of
 Jaiprakash Power Ventures Limited]
 
 
 [xiii] Jaypee Meghalaya Power Limited [subsidiary of Jaiprakash Power
 Ventures Limited]
 
 [xiv] Jaypee Health Care Limited [subsidiary of Jaypee Infratech
 Limited]
 
 [xv] Jaypee Cement Cricket (India) Limited [subsidiary of Jaypee Sports
 International Limited *]
 
 [xvi] Jaypee Cement Hockey (India) Limited [subsidiary of Jaypee Sports
 International Limited *]
 
 [xvii] Jaiprakash Agri Initiatives Company Limited [subsidiary of
 Jaypee Cement Corporation Limited]
 
 [xviii] Himachal Baspa Power Company Limited [w.e.f. 14.03.2014]
 [subsidiary of Jaiprakash Power Ventures Limited]
 
 [xix] Himachal Karcham Power Company Limited [w.e.f. 14.03.2014]
 [subsidiary of Jaiprakash Power Ventures Limited]
 
 * merged with the Company appointed date being 01.04.2014
 
 [b] Joint Venture Subsidiaries :
 
 [i] Bhilai Jaypee Cement Limited
 
 [ii] Bokaro Jaypee Cement Limited [till 28.11.2014]
 
 [iii] Gujarat Jaypee Cement & Infrastructure Limited
 
 [iv] Jaypee Powergrid Limited [Joint Venture Subsidiary Company of
 Jaiprakash Power Ventures Limited]
 
 [v] Jaypee Arunachal Power Limited [Joint Venture Subsidiary Company of
 Jaiprakash Power Ventures Limited]
 
 [c] Associate Companies:
 
 [i] Jaypee Infra Ventures [A Private Company with unlimited liability]
 
 [ii] Jaypee Development Corporation Limited
 
 [iii] Jaiprakash Kashmir Energy Limited
 
 [iv] JIL Information Technology Limited
 
 [v] Gaur & Nagi Limited
 
 [vi] Indesign Enterprises Private Limited
 
 [vii] Sonebhadra Minerals Private Limited
 
 [viii] RPJ Minerals Private Limited
 
 [ix] Tiger Hills Holiday Resort Private Limited
 
 [x] Anvi Hotels Private Limited
 
 [xi] Sarveshwari Stone Products Private Limited
 
 [xii] Rock Solid Cement Limited
 
 [xiii] Jaypee International Logistics Company Private Limited
 
 [xiv] Jaypee Hotels Limited
 
 [xv] Jaypee Mining Venture Private Limited
 
 [xvi] Ceekay Estates Private Limited
 
 [xvii] Jaiprakash Exports Private Limited
 
 [xviii] Bhumi Estate Developers Private Limited
 
 [xix] PAC Pharma Drugs and Chemicals Private Limited
 
 [xx] Jaypee Technical Consultants Private Limited
 
 [xxi] Jaypee Uttar Bharat Vikas Private Limited [Joint Venture
 Associate]
 
 [xxii] Kanpur Fertilizers & Cement Limited [Joint Venture Associate]
 
 [xxiii] Madhya Pradesh Jaypee Minerals Limited [Joint Venture
 Associate]
 
 [xxiv] MP Jaypee Coal Limited [Joint Venture Associate]
 
 [xxv] MP Jaypee Coal Fields Limited [Joint Venture Associate]
 
 [xxvi] Andhra Cements Limited
 
 [xxvii] Milestone Home Finance Company Private Limited [till
 12.03.2014]
 
 [xxviii] Jaypee Jan Sewa Sansthan [''Not for Profit'' Private Limited
 Company]
 
 
 [xxix] Think Different Enterprises Private Limited [w.e.f. 03.03.2015]
 
 [xxx] Dixit Holdings Private Limited
 
 [xxxi] iValue Advisors Private Limited
 
 [xxxii] JC World Hospitality Pvt. Ltd.
 
 [d] Key Management Personnel, where transactions have taken place:
 
 [i] Shri Manoj Gaur, Executive Chairman & C.E.O.
 
 [ii] Shri Sunil Kumar Sharma, Executive Vice Chairman
 
 [iii] Shri Sarat Kumar Jain, Vice Chairman
 
 [iv] Shri Sunny Gaur, Managing Director [Cement]
 
 [v] Shri Pankaj Gaur, Joint Managing Director [Construction]
 
 [vi] Shri Shyam Datt Nailwal, Director [Finance] [till 30.06.2014]
 
 [vii] Shri Ranvijay Singh, Whole-time Director
 
 [viii] Shri Rahul Kumar, Whole-time Director & C.F.O.
 
 [ix] Shri Shiva Dixit, Whole-time Director [w.e.f. 27.05.14]
 
 [e] Relatives of Key Management Personnel, where transactions have
 taken place
 
 [i] Shri Jaiprakash Gaur
 
 [ii] Smt. Chandra Kala Gaur
 
 [iii] Shri Nanak Chand Sharma
 
 [iv] Shri Gyan Prakash Gaur
 
 [v] Shri Suresh Kumar
 
 [vi] Shri Pawan Kumar Jain
 
 [vii] Shri Sameer Gaur
 
 [viii] Smt Rita Dixit
 
 [ix] Shri Sachin Gaur
 
 [x] Shri Raj Kumar Singh
 
 [xi] Shri Praveen Kumar Singh
 
 [xii] Shri Naveen Kumar Singh
 
 [xiii] Smt. Manju Sharma
 
 [xiv] Smt. Nandita Gaur
 
 [xv] Ms.  Manika Gaur
 
 [xvi] Shri Manu Bhaskar Gaur Note: Related party relationships are as
 identified by the Company and relied upon by the Auditors.
 
 
 [a] Segments have been identified in accordance with Accounting
 Standards on Segmental Reporting [AS-17] taking into account the
 organization structure as well as differential risk and returns of
 these segments.
 
 [b] Business segment has been disclosed as the primary segment.
 
 [c] Types of Products and Services in each Business Segment:
 
 [i] Construction Civil Engineering Construction/EPC
 Contracts/Expressway
 
 [ii] Cement Manufacture and Sale of Cement and Clinker
 
 [iii] Hotel/Hospitality/Sports Hotels, Golf Course, Resorts, Spa and
 Sports Event
 
 [iv] Real Estate Real Estate Development
 
 [v] Power Generation and Sale of Energy
 
 [vi] Investments Investments in Subsidiaries and Joint Ventures for
 Cement, Power, Expressway, Sports etc.
 
 [vii] Others Includes Coal, Waste Treatment Plant, Heavy Engineering
 Works, Hitech Castings, Man Power Supply etc.
 
 [d] Segment Revenues, Operating Results, Assets and Liabilities include
 the amounts identifiable to each segment and amounts allocated on a
 reasonable basis.
 
 [e] Segment Assets exclude Miscellaneous Expenditure & Deferred Tax
 Asset. Segment Liabilities exclude Deferred Tax Liability.
 
 NOTE No.32.
 
 (a) Provident Fund - Defined Contribution Plan
 
 All employees are entitled to Provident & Pension Fund benefits. Rs,
 3076 Lakhs [Previous Year Rs, 3098 Lakhs] has been debited in the
 Statement of Profit & Loss during the year.
 
 (b) Gratuity and Leave encashment - Defined Benefit Plans - Provision
 made as per actuarial valuation. The Company has a Trust namely
 Jaiprakash Associates Employees Gratuity Fund Trust to manage funds
 towards Gratuity Liability of the Company. SBI Life Insurance Company
 Limited and ICICI Prudential Life Insurance Company Limited has been
 appointed for management of the Trust Fund for the benefit of the
 employees.
 
 
 NOTE No.33
 
 The Free-hold Land [Agricultural] purchased by the Company for Rs, 3
 Lakhs measuring 7 Bighas at Rangpuri, New Delhi had been notified for
 acquisition U/s 4 & 6 of the Land Acquisition Act. The Company''s claim
 for compensation is pending for settlement.
 
 NOTE No.34
 
 The previous year figures have been regrouped/recast/rearranged
 wherever considered necessary to conform to the current year''s
 classification.
 
 NOTE No.35.
 
 All the figures have been rounded off to the nearest lakh Rs,.
 
 2.  Increase in Share Capital & Securities Premium is on account of
 issue of shares through Qualified Institutional Placement. Increase in
 Securities premium is net of expenses on issue of shares.
 
 3.  Direct Taxes paid are treated as arising from Operating Activities
 and are not bifurcated between Investing and Financing activities.
 
 4.  During the year, Jaypee Cement Corporation Limited [JCCL]
 [subsidiary Company] has allotted Preference Shares for Rs, 80,000
 Lakhs [Previous Year Preference Shares for Rs, 1,20,000 Lakhs] against
 the amount receivable from JCCL.
 
 5.  Finance Costs includes Premium paid on redemption of Debentures.
 
 6.  The Cash Flow Statement has been prepared under the indirect method
 as set out in the Accounting Standard (AS - 3) Cash Flow Statement.
 
 7.  Details of Discontinuing operations may be referred from Note
 No.53 attached to the Balance Sheet.
 
 8.  The previous year figures have been regrouped/recast/rearranged
 wherever considered necessary to conform to the current year''s
 classification.
Source : Dion Global Solutions Limited
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