1. Loans from State Government includes :
 
 [i] Interest Free Loans granted by U.P. Financial Corporation (UPFC)
 under Audyogik Nivesh Protshahan Yojna Scheme are secured by way of
 First Charge on the Fixed Assets of the respective Units of the
 Company. The same is repayable witin 10 years from the year in which it
 is received, repayment will commence from F.Y. 2017-18.
 
 [ii] Interest free loan granted by DIC, Panipat, Haryana is secured
 against BG. The same is repayable within 5 years from the year in which
 it is received, repayment will commence from F.Y. 2014-15.
 
 2. Advances from Clients includes loan granted by Client for purchase
 of Plant & Machinery for the Contract on Hypothecation of Construction
 Material and Plant & Equipment.
 
 3. Details of Foreign Currency Convertible Bonds (Unsecured) at Note
 No.4[II]A are given as under :
 
 [a] The Company had issued 1,65,000 Nos 0.50% Foreign Currency
 Convertible Bonds [FCCB-II] of Euro 1000 each aggregating to Euro 165
 Million at par on 09.03.2006. These Bonds are convertible at the option
 of bond-holders into equity shares of Rs. 10/- each fully paid at the
 conversion price of Rs. 558.773 per share, subject to the terms of issue,
 with a fixed rate of exchange of Rs. 53.599 equal to Euro 1.00 at any
 time on or after 19.04.2006 and prior to the close of business on
 02.03.2013. Post split of the Equity Shares of Rs. 10/- each into 5
 Equity Shares of Rs. 2/- each on 26.12.2007 and post bonus issue of one
 equity share of Rs. 2/- each against two equity shares of Rs. 2/- each as
 on 19.12.2009, the Bonds are/will be converted into Equity shares of Rs.
 2/- each at the conversion price of Rs. 74.5031 per share.
 
 1451 FCCBs of Euro 1,000 each were reedeemed on 09.04.2011 (Previous
 Year 2500 FCCBs of Euro 1,000 each were converted into 17,98,549 Equity
 Shares of Rs. 2/- each on 05.08.2010).
 
 255 FCCBs of Euro 1,000 each [Previous Year 1,706] were outstanding as
 on 31.03.2012. Upon conversion of the outstanding Bonds into Equity
 Shares, the Share Capital of the Company will increase by 1,83,452
 Equity Shares of Rs. 2/- each.
 
 Unless previously converted, the bonds are redeemable at maturity on
 09.03.2013 at a premium of 32.071%; representing a YTM of 4.50% p.a.
 [value as on 31.03.2012 is Euro 1271.914 (Previous Year Euro 1222.001)
 per Bond]. A reserve aggregating to Rs. 48 Lakhs (Previous Year Rs. 242
 Lakhs) upto 31.03.2012 has been created for the redemption premium on
 outstanding FCCBs.
 
 [b] The Company has issued 4,00,000 Zero Coupon Foreign Currency
 Convertible Bonds [FCCB-III] of USD 1,000 each aggregating to USD 400
 Million at par on 11.09.2007. These Bonds are convertible at the option
 of bond-holders into equity shares of Rs. 10/- each fully paid at the
 conversion price of Rs. 1,238.78 per share, subject to the terms of
 issue, with a fixed rate of exchange of Rs. 40.35 equal to USD 1.00 at
 any time on or after 22.10.2007 and prior to the close of business on
 05.09.2012. Post split of the Equity Shares of Rs. 10/- each into 5
 Equity Shares of Rs. 2/- each on 26.12.2007 and post bonus issue of one
 equity share of Rs. 2/- each against two equity shares of Rs. 2/- each as
 on 19.12.2009, the Bonds are/will be converted into Equity shares of Rs.
 2/- each at the conversion price of Rs. 165.1707 per share.
 
 No conversion has taken place during F.Y. 2011-12 (Previous Year Nil).
 
 FCCBs of USD 354.475 Million (Previous Year USD 354.475 Million) were
 outstanding as on 31.03.2012. Upon conversion of the Bonds into Equity
 Shares, the Share capital of the Company will increase by 8,65,95,663
 Equity shares of Rs. 2/- each.
 
 Unless previously converted, the bonds are redeemable at maturity on
 12.09.2012 at a premium of 47.701%; representing a YTM of 7.95% p.a.
 [value as on 31.03.2012 is USD 1,42,681.717 (Previous Year USD
 1,31,980.712) for a principle amount of USD 1,00,000]. A reserve
 aggregating to Rs. 77963 Lakhs (Previous Year Rs. 51172 Lakhs) upto
 31.03.2012 has been created for the redemption premium on outstanding
 FCCBs.
 
 5. Jaypee Infratech Limited has provided a letter of Comfort to
 ICICI Bank UK Plc and ICICI Bank Canada 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.
 
 6. Unsecured Loan taken from Banks at Note No.4[II]C is Loan taken
 from SIDBI in foreign currency [Amount Outstanding Rs. 23772 Lakhs]
 repayable in 14 equal half yearly instalments from 30.06.12 to
 30.12.2018.
 
 7. The Company accepts Fixed Deposit under Fixed Deposits Scheme from
 Public which are repayable in one year, two year and three years.
 
 8.The Working Capital facilities [both Fund and Non Fund] availed
 from the Consortium member Banks with Canara Bank, as Lead, are secured
 by way of first charge ranking pari passu on Current Assets i.e.
 Hypothecation of Stocks of Raw Materials, Work-in-Progress,
 Stock-in-Process, Finished Goods, Stores & Spares and Book Debts and
 2nd charge on the Fixed Assets of the Company [except pertaining to
 Wind Power, 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.
 
 9. Maximum balance of Commercial Papers outstanding during the year Rs.
 100000 Lakhs [Previous Year Rs. 150000 Lakhs].
 
 NOTE No. 10
 
 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. 154672 Lakhs (Previous Year Rs. 175686 Lakhs)]
 
 NOTE No.11
 
 All Investments are Non-trade Investments.
 
 NOTE No.12
 
 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.
 
 NOTE No.13
 
 Jaypee Karcham Hydro Corporation Limited merged with Jaiprakash Power
 Ventures Limited w.e.f. 01.04.2010, shares on merger credited during
 F.Y. 2011-12.
 
 20.2 Cash-in-hand and Balances with Non Scheduled Banks in Foreign
 Currency includes Iraqi Dinars 27,377 Million equivalent to Rs. 10 Lakhs
 which are not available for use by the Company.
 
 NOTE No.14
 
 Pursuant to the Scheme sanctioned by Hon''ble High Court of Judicature
 at Allahabad u/s 391/394 of the Companies Act,1956 on 9th April, 2012,
 (i) South Cement Undertaking, (ii) West Cement Undertaking , (iii)
 Asbestos Undertaking, (iv) Heavy Engineering Works undertaking & (v)
 Foundry Undertaking stand demerged and transferred to and vested in the
 Transferee Company i.e.Jaypee Cement Corporation Limited [100%
 subsidiary of the Company]. Accordingly, all Assets and Liabilities of
 the above said Undertakings have been transferred w.e.f Appointed date
 i.e. April 1st, 2011 and the Scheme has come into effect from April
 18th, 2012 on filing of the Scheme with the Registrar of Companies.
 
 With effect from the Appointed date, all the business undertakings,
 assets, liabilities, rights and obligations of each of the Demerged
 Undertakings stood transferred to and vested in the Transferee Company
 for a net consideration of Rs. 4030.98 crores.
 
 With effect from the Appointed date all the businesses and activities
 carried on by the abovesaid Demerged undertakings of the Transferor
 Company is in trust for and for the benefit of the Transferee Company.
 Thus, the Profit or Income accruing or arising in respect of Demerged
 Undertakings 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.
 
 NOTE No.15                               As at            As at
                                         31.03.2012       31.03.2011
                                          Rs. Lakhs        Rs. Lakhs
 
 Contingent Liability not 
 provided for in respect of:
 
 [a] Claims against the Company / 
 Disputed Liability [including 
 Tax] not acknowledged as                 178,347           139,487
 debts
 
 Amount deposited under Protest            42,745            25,934
 
 Bank Guarantee deposited under 
 Protest [included in (b) below]           14,945            14,953
 
 Indemnity Bond                               -               1,638
 
 [b] Outstanding amount of 
 Bank Guarantees                          163,927           136,673
 
 Margin Money deposited
 against the above                            884             1,322
 
 The Outstanding Amount of 
 Bank Guarantees as at 
 31.03.2012 do not include Bank 
 Guarantees given for Demerged 
 undertakings amounting Rs 
 2326 Lakhs
 
 [c] Income Tax matters under appeal        4,082               400
 
 [a] Estimated amount of Contracts 
 remaining to be executed on capital
 account and not 58,119 132,091 
 provided for (net of advances)
 
 [b] Outstanding Letters of Credit         36,178            57,414
 
 Margin Money deposited against 
 the above                                      2                 8
 
 The Outstanding Letter of Credit as at 31.03.2012 do not include Bank
 Guarantees given for Demerged undertakings amounting Rs. 805 Lakhs
 
 [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. 24468 Lakhs
 [Previous Year Rs. 24468 Lakhs] till 31.03.2015. The Liability amounting
 to Rs. 4826 Lakhs [Previous Year Rs. 4826 Lakhs] on account of custom duty
 may arise alongwith interest @15% p.a., in the event of non-fulfillment
 of export obligation.
 
 [b] Securities for Subsidiaries:
 
 [i] 134,24,09,231 Equity Shares of Rs. 10/- each fully paid-up [Previous
 Year 108,37,00,000 Equity Shares] of Jaiprakash Power Ventures Limited
 [JPVL] are pledged as collateral security for the financial assistance
 granted by Lenders to JPVL for specific projects.
 
 [ii] The Company has given letter of Comfort to ICICI Bank for Non
 Convertible Debentures amounting Rs. 198257 Lakhs [Previous Year Rs. 198257
 Lakhs] issued by Jaiprakash Power Ventures Limited.
 
 [iii] Nil Equity Shares of Rs. 10/- each fully paid-up [Previous Year
 27,75,00,000 Equity Shares] of Jaypee Karcham Hydro Corporation Limited
 [JKHCL] [merged with Jaiprakash Power Ventures Limited w.e.f
 01.04.2010] are pledged with ITSL as collateral security for financial
 assistance granted by Lenders to JKHCL.
 
 [iv] The Company has pledged 36,78,00,000 Equity Shares of Rs. 10/- each
 fully paid-up [Previous Year 36,78,00,000 Equity Shares] of Jaypee
 Infratech Limited (JIL) (Subsidiary Company) with IDBI Trusteeship
 Services Limited (ITSL) (Trustee) and executed non disposal undertaking
 for further 25,74,60,000 Equity Shares [25,74,60,000 Equity Shares] of
 JIL held by the Company in favour of ITSL as collateral security for
 the financial assistance to JIL.
 
 [v] 6,02,25,900 Equity Shares of Rs. 10/- each fully paid-up [Previous
 Year 6,02,25,900 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.
 
 [vi] 15,20,00,000 Equity Shares of Jaypee Sports International Limited
 [JPSI] pledged as collateral security for financial assistance granted
 to JPSI on issuance of Compulsory Convertible Debentures.
 
 NOTE No.16
 
 The Company has pledged 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.17
 
 Letter of Credit facility taken from Axis Bank Limited - Rs. 10000 Lakhs
 is secured by way of Subservient charge on the Current Assets of the
 Company.
 
 NOTE No.18
 
 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.
 
 NOTE No.19
 
 [a] The Provision for Taxation made in the Statement of Profit & Loss
 includes Rs. 45 Lakhs [Previous Year Rs. 40 Lakhs] towards Provision for
 Wealth Tax Expense for the year.
 
 NOTE No.20
 
 Other Payables shown under the head Other Current Liabilities include
 Book Overdraft of Rs. 1701 Lakhs [Previous Year Rs. 858 Lakhs].
 
 NOTE No.21
 
 Disclosure as required under Notification No.G.S.R.719 [E] dated 16th
 November, 2007 issued by the Department of Corporate Affairs [as
 certified by the Management]:
 
 NOTE No.22
 
 Balances of some of the Trade Receivables, Trade Payables, Loans &
 Advances are subject to reconciliation / confirmation from the
 respective parties. The Management does not expect any material
 difference affecting the Financial Statements for the year.
 
 NOTE No.23
 
 [a] In compliance of Accounting Standard-2 [Revised], the Company has
 provided liability of Excise Duty amounting to Rs. 1412 Lakhs [Previous
 Year Rs. 3784 Lakhs] on the stocks of Finished Goods lying at Works.
 However, there is no impact on the profit for the current year.
 
 [b] The Excise Duty of Rs. (1981 Lakhs) [Previous Year Rs. 2590 Lakhs]
 related to difference between Closing and Opening Stock has been
 debited in the Statement of Profit & Loss.
 
 NOTE No.24
 
 The External Commercial Borrowings [ECBs] outstanding as on 31.03.2012
 of JPY 13493.025 million , USD 32.50 million, USD 15.31 million, JPY
 655.41 million, GBP 34.84 million and CAD 61.625 million are hedged in
 respect of coupon as well as repayment.  Hedging of JPY to USD in
 respect of JPY 655.41 million yet to be done.
 
 As on 31.03.2012, the Company has outstanding exposure of Euro 0.255
 Million [unhedged] against Foreign Currency Convertible Bonds [FCCB-II]
 [Previous Year Euro 1.706 Million] and USD 354.475 Million against
 Foreign Currency Convertible Bonds [FCCB-III] (Previous Year USD
 354.475 Million) (USD 250 Million hedged ,balance unhedged) pending
 conversion into Equity Share Capital.
 
 NOTE No.25
 
 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 [w.e.f. 22.02.2011]
 
 [viii] Jaypee Fertilizers & Industries Limited [w.e.f. 03.06.2010]
 
 [ix] Himalyaputra Aviation Limited [w.e.f. 23.07.2011]
 
 [x] Jaypee Assam Cement Limited [w.e.f. 30.08.2011]
 
 [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 [w.e.f. 26.08.2010] [subsidiary
 of Jaiprakash Power Ventures Limited]
 
 [b] Joint Venture Subsidiaries :
 
 [i] Bhilai Jaypee Cement Limited
 
 [ii] Bokaro Jaypee Cement Limited
 
 [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]
 
 [vi] Madhya Pradesh Jaypee Minerals Limited [till 02.03.2011]
 
 [c] Associate Companies:
 
 [i] Jaypee Infra Ventures [A Private Company with unlimited liability]
 
 [ii] Jaypee Ventures Private Limited [merged with Jaypee Infra Ventures
 at SL No (i) above]
 
 [iii] Jaypee Development Corporation Limited
 
 [iv] Jaiprakash Kashmir Energy Limited
 
 [v] JIL Information Technology Limited
 
 [vi] Gaur & Nagi Limited
 
 [vii] Indesign Enterprises Private Limited
 
 [viii] Sonebhadra Minerals Private Limited
 
 [ix] RPJ Minerals Private Limited
 
 [x] Jaiprakash Agri Initiatives Company Limited
 
 [xi] Tiger Hills Holiday Resort Private Limited
 
 [xii] Anvi Hotels Private Limited
 
 [xiii] Sarveshwari Stone Products Private Limited
 
 [xiv] Rock Solid Cement Limited
 
 [xv] Jaypee International Logistics Company Private Limited
 
 [xvi] Jaypee Hotels Limited
 
 [xvii] Jaypee Mining Venture Private Limited
 
 [xviii] Ceekay Estates Private Limited
 
 [xix] Jaiprakash Exports Private Limited
 
 [xx] Bhumi Estate Developers Private Limited
 
 [xxi] PAC Pharma Drugs and Chemicals Private Limited
 
 [xxii] Jaypee Technical Consultants Private Limited
 
 [xxiii] Jaypee Uttar Bharat Vikas Private Limited [Joint Venture]
 [w.e.f. 21.06.2010]
 
 [xxiv] Kanpur Fertilizers & Cement Limited [Joint Venture] [w.e.f.
 26.09.2010]
 
 [xxv] Madhya Pradesh Jaypee Minerals Limited [w.e.f. 03.03.2011][Joint
 Venture]
 
 [xxvi] MP Jaypee Coal Limited [Joint Venture]
 
 [xxvii] MP Jaypee Coal Fields Limited [Joint Venture]
 
 [xxviii] GM Global Mineral Mining Private Limited
 
 [xxix] Andhra Cements Limited [w.e.f. 10.02.2012]
 
 [d] Key Management Personnel:
 
 [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]
 
 [vii] Shri Ranvijay Singh, Whole time Director
 
 [viii] Shri Ravindra Kumar Singh, Whole time Director
 
 [ix] Shri Rahul Kumar, Whole time Director & C.F.O.
 
 [e] Relatives of Key Management Personnel, where transactions have
 taken place
 
 [i] Shri Jaiprakash Gaur
 
 [ii] Shri Nanak Chand Sharma
 
 [iii] Shri Gyan Prakash Gaur
 
 [iv] Shri Suresh Kumar
 
 [v] Shri Pawan Kumar Jain
 
 [vi] Shri Sameer Gaur
 
 [vii] Smt Rita Dixit
 
 [viii] Shri Sachin Gaur
 
 [ix] Shri Raj Kumar Singh
 
 [x] Shri Praveen Kumar Singh
 
 [xi] Shri Naveen Kumar Singh
 
 [xii] Smt. Manju Sharma
 
 [xiii] Smt Neha Goyal
 
 NOTE No.26
 
 (a) Provident Fund - Defined Contribution Plan
 
 All employees are entitled to Provident Fund benefits. Rs. 2,758 Lakhs
 [Previous Year Rs. 2,655 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.27
 
 For the purpose of Regulation 3[e][i] of the Securities and Exchange
 Board of India [Substantial Acquisition of Shares and Takeovers]
 Regulations, 1997, the Group constituted Shri Jaiprakash Gaur, his
 associates and Companies as disclosed to Stock Exchanges from time to
 time which include Jaiprakash Associates Limited (JAL), its
 Subsidiaries given under Note No.51(a) & (b) above, its Associates
 given under Note No.51(c) above and Siddharth Utility Private Limited.
 These Regulations have now been substituted by Securities and Exchange
 Board of India [Substantial Acquisition of Shares and Takeovers]
 Regulations, 2011,
 
 NOTE No.28
 
 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 settlement.
 
 NOTE No.29
 
 Figures for the previous year have been regrouped/recast/rearranged
 wherever considered necessary to conform to this year''s classification
 in accordance with revised Schedule VI.
 
 NOTE No.30
 
 All the figures have been rounded off to the nearest lakh