1.  Amalgamation
 
 Pursuant to the Scheme of Amalgamation [the Scheme] U/s 391/394 of
 the Companies Act, 1956, the erstwhile Jaypee Karcham Hydro Corporation
 Limited (JKHCL) and Bina Power Supply Company Limited (BPSCL)
 (Amalgamating Companies) stand merged with Jaiprakash Power Ventures
 Limited (Amalgamated Company) w.e.f 01.04.2010 [the Appointed date]
 in terms of the Order dated 25.07.2011of Hon''ble High Court of Himachal
 Pradesh at Shimla sanctioning the Scheme and is effective from
 26.07.2011. The Amalgamating Companies are in Power generation
 business. JKHCL is setting up 1000 MW Hydro-electric Power Project and
 BPSCL is setting up 1250 MW Thermal Power Project. The Amalgamated
 Company is engaged in generation of hydro-electric power (300 MW at
 Baspa HEP & 400 MW at Vishnuprayag HEP) and implementing 1320 MW Super
 Critical Thermal Power Project at Nigrie.
 
 With effect from the Appointed date, all the business undertakings,
 assets, liabilities, rights and obligations of the Amalgamating
 Companies stood transferred to and vested in the Amalgamated Company in
 consideration for issue of one equity shares of Rs. 10/- each in the
 Amalgamated Company for every five equity share of Rs. 10/- each held
 in JKHCL (Amalgamating Company) and for issue of two equity shares of
 Rs. 10/- each in the Amalgamated Company for every thirteen equity
 share of Rs. 10/- each held in BPSCL (Amalgamating Company).
 
 The Amalgamating Companies carried on all the businesses and activities
 for the benefit of and in trust for the Amalgamated Company from the
 ''Appointed date''. Thus, the profit or income accruing or arising to the
 Amalgamating Companies or expenditure or losses arising or incurred
 from the ''Appointed date'' are treated as profit or income or
 expenditure or loss as the case may be of the Amalgamated Company. The
 Scheme has accordingly been given effect to in these accounts.
 
 The Amalgamation has been accounted for under the Pooling of Interests
 method as prescribed in Accounting Standard 14 - Accounting for
 Amalgamations [AS-14] issued by the Institute of Chartered Accountants
 of India. Accordingly, the assets, liabilities and reserves of the
 Amalgamating Companies have been taken over at their book values on the
 Appointed dated i.e.
 
 In view of aforesaid amalgamations with effect from 01.04.2010, the
 figures for the current year are not comparable with those of the
 previous year.
 
 2.  Contingent Liabilities:
 
 Particulars                                        (Amount in Rs.)
 
 (i) Outstanding amount of Letter of Credit
 (Previous Year Rs. 98,74,476/-)                     1,23,31,33,810
 
 Margin Money against above
 (Previous Year Rs. 1,37,16,821/-)                      1,90,68,000
 
 (ii) Outstanding amount of Bank Guarantee
 (Previous Year Rs. 62,11,99,000/-)                  1,16,29,54,540
 
 Margin Money against above                             1,98,73,549
 (Previous Year Rs. 15,36,095/-)
 
 (iii) Estimated amount of contracts remaining
 to be executed on Capital Account and INR          3,12,033.31 Lac
 
 not provided for (net of advances) USD                  771.42 Lac
 
 (Previous Year INR 1,91,257.61 Lac, Euro                219.45 Lac
 
 USD 586.31 Lac, Euro 219.62 Lac, JPY               1,24,498.82 Lac
 
 JPY 2,30,530.43 Lac) CD                                   1.41 Lac
 
 (iv) Claims against the company not 
 acknowledged as debts.  (Previous
 Year Rs. 2,93,35,073/-)                                1,91,12,889
 
 (v) Income tax matters under appeal
 (Previous Year Nil)                                   18,95,23,051
 
 (vi) The Government of Himachal Pradesh has imposed entry tax on the
 goods entering the state of Himachal Pradesh. This was challenged by
 the Company before the Hon''ble High Court of Himachal Pradesh at
 Shimla. The Hon''ble High Court passed an interim order that tax paid by
 the petitioner would be treated as deposit and not as tax payment.  The
 final decision of Hon''ble High Court is awaited. The total liability as
 at 31st March, 2011 is Rs. 27,14,69,392/- (Previous year Rs. Nil),
 against which Company has deposited Rs. 13,75,24,925/-.
 
 3.  Security for Term Loans and Non-Convertible Debentures
 
 3.1 300 MW BASPA-II HEP :
 
 3.1 (a) Rupee Term Loans, Foreign Currency Loans, Working Capital
 Facilities and Deferred Payment Guarantee(s) from Financial
 Institutions and Banks, together with all interest, guarantee
 commission, cost, expenses and other monies stipulated in the Loan
 Agreements/Deferred Payment Guarantee Agreement are secured ranking
 pari passu among all the participating Institutions and Banks viz State
 Bank of India, Andhra Bank, Punjab National Bank, UCO Bank, Oriental
 Bank of Commerce, Allahabad Bank, United Bank of India, IDBI Bank Ltd,
 IFCI Ltd, and Power Finance Corporation, by
 
 (i) First Charge on book debts, operating cash flows, receivables,
 commissions, revenue of whatsoever nature, present & future of the
 Baspa II HEP.
 
 (ii) First charge on all the Accounts of the Baspa II HEP including but
 not limited to the Trust & Retention Account, Escrow Account of HPSEB
 and Debt Service Reserve Account and other accounts required to be
 created under any Project Document or contract.
 
 The loans are inter-alia collaterally secured by;
 
 (i) First charge on Baspa II HEP''s all intangible assets, hypothecation
 of all the movable assets, assignment of Project Agreements and Escrow
 Agreement, all present and future rights, titles, interests, benefits,
 claims and demands whatsoever with respect to the Insurance Policies,
 claims and benefits to all monies receivable there under and all other
 claims there under in respect of all the insured assets of the Project;
 
 (ii) First ranking equitable mortgage on all rights, titles, interests
 and benefits in respect of immovable properties, and assets of the
 Baspa II HEP.
 
 3.1 (b) The Foreign Currency Loans under Buyers'' Credit are guaranteed
 by Deferred Payment Guarantee issued by Power Finance Corporation
 Limited.
 
 3.2 400 MW Vishnuprayag HEP :
 
 Rupee Term Loans, Foreign Currency Loans and Working Capital Facilities
 from Financial Institutions and Banks, together with all interest,
 guarantee commission, cost, expenses and other monies stipulated in the
 Loan Agreements are secured ranking pari passu among all the
 participating Institutions and Banks viz. State Bank of India, Andhra
 Bank, State Bank of Bikaner & Jaipur, State Bank of Patiala, State Bank
 of Travancore, Bank of India, Oriental Bank of Commerce, Allahabad
 Bank, Dena Bank, IDBI Bank Ltd, ICICI Bank Ltd and Power Finance
 Corporation.
 
 (i) First charge on 400 MW Vishnuprayag HEP''s present and future book
 debts, operating cash flows, receivables, commissions, revenue of
 whatsoever nature and
 
 (ii) First charge on 400 MW Vishnuprayag HEP''s all the accounts
 including the Trust & Retention Account, Escrow Account of Uttar
 Pradesh Power Corporation Limited and Debt Service Reserve Account and
 each of the other accounts required to be created by the Company under
 any 400 MW Vishnuprayag HEP Document.
 
 The loans are inter-alia collaterally secured by :
 
 (i) First charge on 400 MW Vishnuprayag HEP''s all intangible assets,
 hypothecation of all the movable assets, assignment of Project
 Agreements and Escrow Agreement, all present and future rights, titles,
 interests, benefits, claims and demands whatsoever with respect to the
 Insurance Policies, claims and benefits to all monies receivable there
 under and all other claims there under in respect of all the insured
 assets of the Project;
 
 (ii) First ranking equitable mortgage on all rights, titles, interests
 and benefits in respect of immovable properties and assets of the 400
 MW Vishnuprayag HEP.
 
 3.3 1320 MW Jaypee Nigrie Super Thermal Power Project :
 
 Financial Assistance of Rs.401.20 Crores (Previous year NIL) availed
 out of amount of Rs.5670 crores sanctioned by consortium of Financial
 Institutions and Banks viz. Bank of Baroda, Bank of Maharashtra, Canara
 Bank, Central Bank of India, Corporation Bank of India, ICICI Bank
 Limited ,IDBI Bank Limited, IDFC Bank Limited, Indian Overseas Bank,
 Life Insurance Corporation of India, Oriental Bank of Commerce ,Punjab
 National Bank, State Bank of Bikaner & Jaipur, State Bank of Patiala,
 State Bank of Hyderabad, Syndicate Bank, UCO Bank, United Bank of
 India, with all interest, cost and other charges/ dues are secured by:
 
 (i) First ranking pari-passu mortgage and hypothecation of all
 immovable and movables assets both present and future, all intangible
 assets, uncalled capital and all revenues and receivables pertaining to
 the Jaypee Nigrie Super Thermal Power Project.
 
 (ii) Pledge of 62.91 Crores (approx 30% of paid-up equity) shares of
 the Company held by JAL on pari-passu basis with lenders of Baspa – II
 HEP and Vishnuprayag HEP.
 
 (iii) Bank Guarantee of Rs.75.65 Crores (Previous Year- Rs.62.04
 Crores) by IDBI Bank Limited for Jaypee Nigrie Super Thermal Power
 Project is having a subservient charge by way of hypothecation on the
 movable assets of the Nigrie Project. Bank Guarantee facility is also
 secured by personal guarantee of Shri Manoj Gaur, Chairman of the
 Company.
 
 3.4 500 MW Bina Thermal Power Project :
 
 Financial Assistance of Rs. 1166.68 Crores (Previous Year Rs. 431.71
 Crores) from consortium of Financial Institutions and Banks with all
 interest, cost and other charges/dues are secured by:
 
 (i) First ranking pari-passu mortgage and hypothecation of all
 immovable and movables assets both present and future, all intangible
 assets, uncalled capital and all revenues and receivables pertaining to
 Bina Thermal Power Project.
 
 (ii) Pledge of 42,12,60,000 (Previous Year–11,43,20,861) equity shares
 of erstwhile BPSCL held by Jaiprakash Power Ventures Ltd. (JPVL)
 (earlier the holding company), on pari- passu basis. Consequent to
 amalgamation of BPSCL with JPVL, the pledge of shares would get changed
 as might be approved by lenders.
 
 (iii) The aforesaid Security rank pari-passu with Bridge Loan Facility
 and working capital lenders. Bridge Loan is Nil (Previous Year - Rs.
 20.29 Crs.) and Bank Guarantee Rs. 32.35 Crs.(Previous Year - Rs. 27.78
 Crs).
 
 3.5 1000 MW Karcham Wangtoo HEP :
 
 The financial assistance disbursed/to be disbursed by financial
 institutions and banks by way of Rupee Term Loans together with all
 interest, cost and other charges/dues are secured by:
 
 (i) legal mortgage created in English Form on immovable property at
 Vadgaon, Taluka Mawal, District Pune, Maharashtra in favour of the
 security trustee.
 
 (ii) First ranking pari-passu mortgage and hypothecation of all the
 immovable and movables assets both present and future, all intangible
 assets, uncalled capital and all revenues and receivables pertaining to
 Karcham Wangtoo Project.  Charge on all licences, permits, approvals,
 assignments, concessions, and consents in connection with the Project,
 charge on all the Company''s Accounts except Distribution Account on
 which there shall be a floating charge which would get converted into a
 fixed charge in case of any default.
 
 (iii) Pledge of 32,55,00,000 (Previous Year-12,00,00,000) number equity
 shares in Jaypee Karcham Hydro Corporation Limited (earlier Subsidiary
 Company) held by Jaiprakash Power Ventures Ltd. (earlier the Holding
 Company) and pledge of 27,75,00,000 (Previous Year - 27,75,00,000)
 number Equity Shares in Jaypee Karcham Hydro Corporation Limited
 (earlier Subsidiary Company) held by Jaiprakash Associates Limited as
 on 31.03.2011 with the lenders. Consequent to amalgamation of JKHCL
 with JPVL, the pledge of shares would get changed as might be approved
 by lenders.
 
 3.6 (a) Rupee Term Loans, Foreign Currency Loans, of Baspa II
 
 HEP, Vishnuprayag HEP and Nigrie STPP from Financial Institutions and
 Banks, together with all interest, guarantee commission, cost, expenses
 and other monies stipulated in the Loan Agreements are interalia
 secured ranking pari passu by pledge of 62.91 Crore (Sixty Two Crore
 Ninety One Lakh ) equity shares of Rs. 10/- each, of the Company held
 by Jaiprakash Associates Ltd, to be shared on pari-passu basis with the
 lenders of the Baspa II HEP, Vishnuprayag HEP and Nigrie Project.
 
 (b) The Rupee Term Loan of Rs.1,000 Crore sanctioned by ICICI Bank
 Limited together with all interests, liquidated damages, front end fee,
 premia on prepayment, costs, charges, expenses and other monies is
 secured by (i) second charge on all present and future movable and
 immovable properties and assets of Sangam Power Generation Company
 Limited and Prayagraj Power Generation Company Limited (subsidiaries of
 the Company) and first charge on the designated bank account together
 with all the monies therein (ii) pledge of 45.46 Crore Equity shares of
 Rs. 10/- each fully paid up of the Company held by JAL.
 
 3.7 The Non-Convertible Debentures Series I of Rs. 999.98 Crore and
 series II of Rs. 982.59 Crores subscribed by ICICI Bank Limited are
 secured by :
 
 (i) Residual charge on the entire fixed assets of the Company.
 
 (ii) Unconditional and irrevocable personal guarantee of Shri Manoj
 Gaur, Chairman towards repayment of principal and interest on the
 Debentures.
 
 (iii) Letter of Comfort from Jaiprakash Associates Limited the Holding
 Company.
 
 4.  Security for Working Capital Loan
 
 4(a) 300 MW BASPA-II HEP : The working capital facilities sanctioned by
 Punjab National Bank- Shimla are inter - alia secured by security
 mentioned in 3.1(a) above and personal guarantees of Shri Jaiprakash
 Gaur - Founder Chairman, Shri Manoj Gaur - Chairman, Shri S.K. Sharma -
 Vice Chairman & CEO and Shri S. K. Jain - Director of the Company.
 
 4(b) 400 MW Vishnuprayag HEP : Working Capital Loan is secured by
 second mortgage/ hypothecation and charge on all movable and immovable
 assets of 400 MW Vishnuprayag HEP (including all revenues, receipts,
 receivables and intangible properties) both present and future and
 second charge on bank accounts including Trust and Retention Accounts
 of 400 MW Vishnuprayag HEP.
 
 5.  Repayment of Term Loans and Non-Convertible Debentures
 
 5.1 300 MW BASPA-II HEP :
 
 All Rupee Term Loans are repayable in 56 installments payable in July,
 August, September and October each year commencing from July 2010, with
 the following variation:
 
 Institution/Bank Repayment Schedule
 
 PFC Repayment in 39 Equal Installments in July, August, September and
 October each year w.e.f July, 2005
 
 IFCI Repayment in 54 Equal Installments in July, August, September and
 October each year w.e.f September, 2010
 
 IDBI FCL Repayment in 40 Equal Installments in June, September,
 December and March each year w.e.f September, 2004
 
 5.2 400 MW Vishnuprayag HEP :
 
 Rupee Term Loan of Rs.1650 Crore are repayable in 54 quarterly
 installments payable in February, May, August and November each year
 commencing from November 2009.
 
 5.3 1320 MW Jaypee Nigrie Super Thermal Power Project :
 
 All Rupee Term Loans sanctioned by Bank of Baroda, Bank of Maharashtra,
 Canara Bank, Central Bank of India, Corporation Bank of India, ICICI
 Bank Limited ,IDBI Bank Limited, IDFC Bank Limited, Indian Overseas
 Bank, Life Insurance Corporation of India, Oriental Bank of Commerce
 ,Punjab National Bank, State Bank of Bikaner & Jaipur, State Bank of
 Patiala, State Bank of Hyderabad, Syndicate Bank, UCO Bank, United Bank
 of India, are repayable in 40 equal quarterly installments commencing
 from November, 2014.
 
 5.4 1000 MW Karcham Wangtoo HEP :
 
 All Rupee Term Loans are repayable in 75 equal installments payable in
 June, July, August, September & October each year commencing from 15th
 June, 2012 to 15th October, 2026.
 
 5.5 500 MW Bina Thermal Power Project :
 
 All Rupee Term Loans sanctioned by Allahabad Bank, Bank of Rajasthan,
 Canara Bank, Central Bank of India, Jammu & Kashmir Bank, Punjab
 National Bank, IDBI Bank Limited, State Bank of Patiala, State Bank of
 Hyderabad and Union Bank of India, 90% are repayable in 40 equal
 installments in March, June, September and December each year
 commencing from March, 2013 and balance 10% in 41st Installment payable
 on 1st March, 2023.
 
 5.6 Other Loans :
 
 5.6 (a) Rupee Term Loan of Rs.1,000 Crore of ICICI Bank are repayable
 in 9 quarterly installments payable in February, May, August and
 November each year commencing from August, 2012.
 
 6.  Collateral Security
 
 6(a) 300 MW BASPA-II HEP : Jaiprakash Associates Limited (JAL), the
 holding Company, has furnished Corporate Guarantees for the financial
 assistance outstanding as on 31.03.2011 amounting to
 Rs.127,86,97,966/-(Previous Year Rs.198,00,25,692/-) to the Financial
 Institutions and Banks and have also by way of pledge of shares of the
 Company held by JAL as given in point 3.6(a) herein above.
 
 6(b) 400 MW Vishnuprayag HEP : JAL, the Holding Company has furnished
 Corporate Guarantees for financial assistance outstanding as on
 31.03.2011 amounting to US$ 1,92,62,500 and have also by way of pledge
 of shares of the Company held by JAL as given in para 3.6(a) herein
 above.
 
 6(c) 1320 MW Jaypee Nigrie Super Thermal Power Project :
 
 Pledge of 62.91 Crore shares of the Company held by JAL on pari-passu
 basis with lenders of Baspa - II HEP, Vishnuprayag HEP and Nigrie STPP
 as mentioned in para 3.6(a) herein above.
 
 6(d) 1000 MW Karcham Wangtoo HEP :
 
 Pledge of 32.55 Crore (Previous Year - 12.00 Crore) Equity Shares in
 Jaypee Karcham Hydro Corporation Limited (earlier Subsidary Company)
 held by Jaiprakash Power Ventures Ltd.(earlier the Holding Company) and
 pledge of 27.75 Crore (Previous Year - 27.75 Crore) Equity Shares in
 Jaypee Karcham Hydro Corporation Limited (earlier Subsidiary company)
 held by Jaiprakash Associates Limited as on 31.03.2011 with the
 lenders. Consequent to amalgamation of JKHCL with JPVL, the pledge of
 shares would get changed as might be approved by lenders.
 
 6(e) 500 MW Bina Thermal Power Project :
 
 Pledge of 42,12,60,000 (Previous Year – 11,43,20,861) number Equity
 Shares in Bina Power Supply Company Limited (earlier Subsidiary
 Company) held by Jaiprakash Power Ventures Limited (earlier the Holding
 Company) as on 31.03.2011 with the lenders. Consequent to amalgamation
 of BPSCL with JPVL, the pledge of shares would get changed as might be
 approved by lenders.
 
 7.  Unsecured Loans
 
 Unsecured loan of Rs. 10 Crore is repayable to Government of
 Uttarakhand in the year 2011-12.
 
 8.  The Company had issued 2,000 Nos. 5% Foreign Currency Convertible
 Bonds (FCCB) of US$ 1,00,000 each aggregating to US$ 200 Million at par
 on 12.02.2010. These Bonds are convertible at the option of the
 bond-holders into equity shares of Rs. 10/- each fully paid up at the
 conversion price of Rs. 85.8139 per share, subject to the terms of
 issue with a fixed exchange rate of Rs. 46.14 equal to US$ 1 at any
 time on or after 25.03.2010 and prior to the close of business on
 06.02.2015.
 
 No conversion has taken place during the financial year 2010-11.
 
 Unless previously converted, the bonds are redeemable at maturity on
 13.02.2015 representing a YTM of 7% p.a. inclusive of coupon rate of 5%
 p.a. [value as on 31.03.2011 in US$ 1,02,263 (Previous Year 1,00,263)
 for a principal amount of US$ 1,00,000 ]. A reserve aggregating to
 Rs.20,88,29,640 up to 31.03.2011 (Previous year 2,42,69,640/-) has been
 created for the redemption premium.
 
 As on 31.03.2011 the Company has outstanding exposure of US$ 200
 Million against FCCB unhedged, pending conversion into equity share
 capital. (US$ 10,34,09,991.91(hedged) is parked overseas pending
 utilization as on 31.03.2011).
 
 9.  Plant & Machinery includes a sum of Rs 64,67,14,114/- (Previous
 year Rs 64,67,14,114/-) being the cost paid for Inter Connection
 Facility (ICF) established by Satluj Jal Vidyut Nigam Limited (SJVNL)
 at their Switch Yard at Jhakri for evacuation of power generated by 300
 MW BASPA-II HEP. The O&M Cost of ICF is paid by the company to SJVNL.
 
 10.  In the opinion of the Board of Directors, the Current Assets,
 Loans and Advances, 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.
 
 11.  The Trust and Retention Accounts (refer Schedule ''I'') is
 maintained pursuant to the stipulations of the ''Financing Agreements''
 executed with the Lenders.
 
 12.  The Rupee value of Foreign Currency Loans has been considered at
 the bank TT selling rate as at 31.03.2011. Accordingly Exchange
 Fluctuation for the period 01.04.2010 to 31.03.2011 amounting to
 Rs.1890.30 Lacs has been credited to the cost of Plant and
 Machinery/Incidental expenditure during construction for projects under
 implementation.
 
 13.  Additional Information pursuant to the provisions of Paragraph 3
 and 4 of Part-II of Schedule VI to the Companies Act, 1956.
 
 14. Managerial remuneration paid/payable to Managing Director/
 Whole-time Directors (excluding Provisions for Gratuity and
 
 16. 300 MW BASPA-II HEP: The Himachal Pradesh Electricity Regulatory
 Commission (HPERC) have passed the Multi Year Tariff (MYT) Order dated
 30th March, 2009 & Review Order dated 10th September, 2009 and 23rd
 June, 2010 for F. Y. 09, 10 and 11 and has also trued up the Tariff for
 F. Y. 04 to 08 based on actual for the period. The Company has filed
 Appeals with Appellate Tribunal for rectification of certain items of
 Tariffs inter- alia including MAT for FY 04 to 08 and for FY 09 to FY10
 and Rate of Interest on Arrears. Accordingly, the receivables to the
 extent of Rs. 76.98 Crore (Previous Year Rs. 56.07 Crore) from HPSEB in
 respect of review items are subject to final decision on the
 Application/Appeal and other legal remedies available to the Company.
 
 17.  As per accounting policy the Advance against Depreciation
 amounting to Rs.7905 lacs (Previous Year Rs.7905 lacs) has been treated
 as Deferred Revenue.
 
 18.  Advance to Suppliers, Contractors and others shown under Loan and
 Advances in Schedule D includes Advance to Jaiprakash Associates
 Limited, the holding Company under EPC Contract Rs. 4016 Lacs (Previous
 Year Rs.23059 Lacs).  Maximum amount outstanding during the Year
 Rs.24579 Lacs.
 
 19.  Related Party Disclosures, as required in terms of Accounting
 Standard [AS] 18 are given below:
 
 (1) Relationships (Related party relationships are as identified by the
 Company and relied upon by the Auditors)
 
 (a) Holding Company:
 
 Jaiprakash Associates Limited
 
 (b) Subsidiary Companies:
 
 (1) Jaypee Powergrid Limited
 
 (2) Sangam Power Generation Company Limited
 
 (3) Prayagraj Power Generation Company Limited
 
 (4) Jaypee Arunachal Power Limited
 
 (5) Jaypee Meghalaya Power Limited (w.e.f. 26.08.2010)
 
 (c) Fellow Subsidiary Companies:
 
 (1) Jaypee Ganga Infrastructure Corporation Limited
 
 (2) Himalayan Expressway Limited
 
 (3) Jaypee Infratech Limited
 
 (4) Jaypee Sports International Limited
 
 (5) Jaypee Cement Corporation Limited (w.e.f. 22.02.2011)
 
 (6) Bhilai Jaypee Cement Limited
 
 (7) Bokaro Jaypee Cement Limited
 
 (8) Gujarat Jaypee Cement & Infrastructure Limited
 
 (9) Jaypee Agra Vikas Limited
 
 (10) Jaypee Fertilizers & Industries Limited (w.e.f.03.06.2010)
 
 (d) Associate Companies/Concerns :
 
 (1) Jaypee Ventures Private Limited
 
 (2) Jaypee Development Corporation Limited (subsidiary of Jaypee
 Ventures Private Limited)
 
 (3) JIL Information Technology Limited (subsidiary of Jaypee Ventures
 Private Limited)
 
 (4) Gaur & Nagi Limited (subsidiary of JIL Information Technology
 Limited)
 
 (5) Indesign Enterprises Pvt. Limited (subsidiary of Jaypee Ventures
 Private Limited)
 
 (6) Indus Hotels UK Limited (subsidiary of Indesign Enterprises Pvt.
 Limited)
 
 (7) GM Global Mineral Mining Private Limited (subsidiary of Indesign
 Enterprises Pvt. Limited) (w.e.f. 16.07.2010)
 
 (8) Ibonshourne Limited (subsidiary of Indesign Enterprises Pvt.
 Limited) (w.e.f. 13.10.2010)
 
 (9) Jaiprakash Agri Initiatives Company Limited (subsidiary of Jaypee
 Ventures Private Limited)
 
 (10) Jaypee International Logistics Company Private Limited (subsidiary
 of Jaypee Ventures Private Limited)
 
 (11) Tiger Hills Holiday Resort Private Limited (subsidiary of Jaypee
 Development Corporation Limited)
 
 (12) Anvi Hotels Private Limited (subsidiary of Jaypee Ventures Private
 Limited)
 
 (13) Jaypee Uttar Bharat Vikas Pvt. Limited (w.e.f. 21.06.2010)
 
 (14) Kanpur Fertilisers and Cement limited (Subsidiary of Jaypee Uttar
 Bharat Vikas Pvt. Limited) (w.e.f.  26.09.2010)
 
 (15) RPJ Minerals Private Limited
 
 (16) Sarveshwari Stone Products Pvt. Ltd. (subsidiary of RPJ Minerals
 Private Limited)
 
 (17) Rock Solid Cement Limited (subsidiary of RPJ Minerals Private
 Limited)
 
 (18) Sonebhadra Minerals Private Limited
 
 (19) MP Jaypee Coal Limited
 
 (20) Madhya Pradesh Jaypee Minerals Limited
 
 (21) MP Jaypee Coal Fields Limited
 
 (22) Jaiprakash Kashmir Energy Limited
 
 (23) Jaypee Hotels Limited
 
 (24) Jaypee Mining Venture Private Limited
 
 (25) Ceekay Estate Private Limited
 
 (26) Pac Pharma Drugs and Chemicals Private Limited
 
 (27) Akasva Associates Private Limited
 
 (28) Sparton Growth Fund Private Limited
 
 (29) Jaypee Infra Ventures (A Private Company with unlimited liability)
 
 (30) Sunvin Estates Private Limited (since merged with Jaypee Ventures
 Private Limited w.e.f. 01.04.2009)
 
 (31) Manumanik Estates Private Limited (since merged with Jaypee
 Ventures Private Limited w.e.f. 01.04.2009)
 
 (32) Arman Estate Private Limited (since merged with Jaypee Ventures
 Private Limited w.e.f. 01.04.2009)
 
 (33) Suneha Estates Private Limited (since merged with Jaypee Ventures
 Private Limited w.e.f. 01.04.2009)
 
 (34) Pee Gee Estates Private Limited (since merged with Jaypee Ventures
 Private Limited w.e.f. 01.04.2009)
 
 (35) Vinamra Housing & Constructions Private Limited (since merged with
 Jaypee Ventures Private Limited w.e.f. 01.04.2009)
 
 (36) Vasujai Estates Private Limited (since merged with Jaypee Ventures
 Private Limited w.e.f. 01.04.2009)
 
 (37) Samsun Estates Private Limited (since merged with Jaypee Ventures
 Private Limited w.e.f. 01.04.2009)
 
 (38) Jaiprakash Exports Pvt. Ltd.
 
 (39) Bhumi Estate Developers Pvt. Ltd.
 
 (40) Jaypee Technical Consultants Pvt. Ltd.
 
 (41) Essjay Enterprises Pvt. Ltd.
 
 (42) Angad Growth Fund Pvt. Ltd.
 
 (e) Key management Personnel:
 
 Jaiprakash Power Ventures Limited
 
 (1) Shri Manoj Gaur, Chairman
 
 (2) Shri S.K. Sharma, Vice Chairman and CEO
 
 (3) Shri Suren Jain, Managing Director and CFO
 
 (4) Shri G.P. Gaur, Whole-time Director,(w.e.f. 01.02.2011)
 
 (5) Shri R.K. Narang, Whole-time Director,
 
 (6) Shri Suresh Chandra, Whole-time Director
 
 (7) Shri J.N. Gaur, Whole-time Director (Up to 30.09.2010)
 
 Bina Power Supply Company Limited – Amalgamating company
 
 (1) Shri P. K. Jain, Whole-time Director
 
 (2) Shri V.K. Sriwastva, Whole-time Director
 
 Jaypee Karcham Hydro Corporation Limited – Amalgamating company
 
 (1) Shri Dharam Paul Goyal, Managing Director
 
 (2) Shri Parveen Kumar Singh, Whole-time Director
 
 (3) Shri Ravindra Mohan Chadha, Whole-time Director
 
 20. Earnings Per Share is computed in accordance with Accounting
 Standard –20 issued by the Institute of Chartered Accountants of India.
 
 21 (a) Provident Fund - Defined Contribution Plan
 
 Employees are entitled to Provident Fund benefits. Amount debited to
 Profit and Loss account including Administrative and DLI charges
 Rs.90,16,424/- during the year (Previous Year Rs.87,66,633/-) and Rs.
 86,86,230/- (Previous year Rs.17,69,106/-) booked in Incidental
 Expenses (Pending Capitalisation).
 
 (b) Gratuity - The liability for Gratuity is provided on the basis of
 Actuarial Valuation made at the end of each financial year.  The
 Actuarial Valuation is made on Projected Unit Credit method as per AS
 15(revised). Jaiprakash Associates Limited {JAL} (the company''s holding
 company) has constituted a Gratuity Fund Trust under the name
 Jaiprakash Associates Employees Gratuity Fund Trust vide Trust Deed
 dated 30th March, 2009 for JAL and its subsidiaries and appointed SBI
 Life Insurance Co. Ltd. for the management of the Trust Funds for the
 benefits of employees. As a subsidiary of JAL, the Company is
 participating in the Trust Fund by contributing its liability accrued
 up to the close of each financial year to the Trust Fund.
 
 (c) Leave Encashment - Defined Benefit Plans - Provision has been made
 as per Actuarial Valuation.
 
 Previous year figures have been given in bracket.
 
 Actuarial Assumptions
 
 (i) Discount Rate 8% (P.Y. 8%)
 
 (ii) Mortality LIC(1994-96(Duly Modified)[ P.Y LIC(1994-96)
 
 {Duly Modified}]
 
 (iii) Turnover Rate Upto 30 Years:3%, 31-44:2%, Above 44:1%
 
 (iv) Future Salary 5.5% (P.Y 5.50%) Increase
 
 22 (a) As per computation made by the Company, provision of Rs.4116
 Lacs (Previous Year Rs. 5157 Lacs) towards Minimum Alternate Tax (MAT)
 as Tax payable under Section 115JB of Income Tax Act, 1961 has been
 made. The MAT paid by the Company for the year is allowed to be carried
 forward for a period up to next 10 years to be adjusted against the
 normal tax payable, if any, in those years.
 
 (b) Provision for deferred tax has not been made as no deferred tax
 liability arises on account of Tax holiday period.
 
 (c) Wealth Tax Liability of Rs. 1,62,120/- has been provided in
 Incidental Expenses Pending Capitalisation in respect of Project under
 Implementation.
 
 23. The erstwhile amalgamating company Jaypee Karcham Hydro Corporation
 Limited had executed a Power Purchase Agreement (PPA) for sale of 704
 MW power, out of 1000 MW power from Karcham Wangtoo Project to Power
 Trading Corporation (India) Limited (PTC) on 21st March, 2006 for a
 term of 35 years with the stipulation that the tariff for sale of power
 shall be as approved by Central Electricity Regulatory Commission
 (CERC) based on the completion cost as approved by Central Electricity
 Authority (CEA)/Central Electricity Regulatory Commission. It was
 subsequently found that the Electricity Act, 2003 does not provide for
 the determination of tariff for sale of power by
 
 a Generating Company to a Trading Company and therefore based on the
 legal opinion the said PPA was considered to be void and PTC was
 informed accordingly. The PTC had disputed the position taken by the
 Company and the dispute was referred to arbitration. The Arbitral
 Tribunal have pronounced the order on 28th April, 2011 by majority
 verdict in favour of the Company and held that the PPA executed with
 PTC was void. The PTC had also approached the Hon''ble High Court of
 Delhi for restraining the Company from entering into agreement for sale
 of aforesaid power to any third party which was rejected. The PTC then
 filed a SLP in the Hon''ble Supreme Court against the order of Hon''ble
 High Court, which is pending.
 
 24. Pursuant to the Memorandum of Understanding signed with Power Grid
 Corporation of India Limited (PGCIL), a Joint Venture Company in the
 name of `Jaypee Powergrid Ltd.'' (JPPGL) had been incorporated on
 05.10.2006 by the Company for developing a Transmission System for the
 evacuation of power to be generated by the 1000 MW Karcham Wangtoo
 Hydro Electric Project in the State of Himachal Pradesh, to a suitable
 interconnection point. The Shareholders'' Agreement had been signed with
 PGCIL on 22.02.2007 with 74% Equity Participation with a provision of
 minimum 51% Equity Participation by the Company and balance 23%, if
 required, by affiliates. The balance 26% Equity is to be contributed by
 PGCIL.
 
 25 (c) (i) 7,50,00,000 Equity Shares of Rs. 10/- each fully paid
 (Previous Year 5,25,00,000) held by the Company of Jaypee Powergrid
 Ltd. (Subsidiary Company) are pledged with IDBI Trusteeship Services
 Ltd., as collateral security for the financial assistance granted by
 lenders to Jaypee Powergrid Ltd.
 
 (ii) 32,55,00,000 Equity Shares of Rs.10/- each fully paid (Previous
 Year 12,00,00,000) held by the Company (earlier the Holding Company) of
 Jaypee Karcham Hydro Corporation Limited (earlier the Subsidiary
 Company) are pledged with IDBI Trusteeship Services Ltd., as collateral
 security for the financial assistance granted by lenders to Jaypee
 Karcham Hydro Corporation Limited. Consequent to amalgamation of JKHCL
 with JPVL, the pledge of shares would get changed as might be approved
 by lenders.
 
 (iii) 42,12,60,000 Equity Shares of Rs.10/- each fully paid (Previous
 Year 11,43,20,861) held by the Company (earlier the Holding Company) of
 Bina Power Supply Company Limited (earlier the Subsidiary Company) are
 pledged with IDBI Trusteeship Services Ltd., as collateral security for
 the financial assistance granted by lenders to Bina Power Supply
 Company Limited.  Consequent to amalgamation of BPSCL with JPVL, the
 pledge of shares would get changed as might be approved by lenders.
 
 (iv) 25,96,86,798 Equity Shares of Rs. 10/- each fully paid (previous
 year 1,18,62,300) held by the company of Prayagraj Power Generation Co.
 Ltd. (Subsidiary Company) are pledged with SBI Cap Trusteeship Services
 Ltd., as collateral security for the financial assistance granted by
 lenders to Prayagraj Power Generation Co. Ltd.
 
 26. In terms of Scheme of Amalgamation as approved by the Hon''ble High
 Court of Himachal Pradesh at Shimla vide order dated 25.07.2011, the
 Company has decided to write off the balance lying in Goodwill of
 Rs.962.81Crore created out of earlier Amalgamation from ''Amalgamation
 Reserve'' arising on merger of Jaypee Karcham Hydro Corporation Limited
 and Bina Power Supply Company Limited with the Company. In previous
 year Goodwill was written off from Share Premium Account amounting to
 Rs.106.98 Crore.
 
 28.  The Company has presently one operative segment i.e.  Generation
 of Power; hence, separate segment reporting is not applicable.
 
 29.  In terms of ''Accounting Standard (AS) 28'', the assets are not
 impaired because the recoverable amount of fixed assets collectively
 determined by the present value of estimated future cash flows is
 higher than its carrying value.
 
 30.  All the figures have been rounded off to the nearest rupees in
 lacs except in the Notes to the Accounts.
 
 31.  Previous Year''s figures have been regrouped/re-arranged wherever
 considered necessary to make them conform to the figures for the year.