1) Contingent Liabilities not provided for in respect of:
 
 a) Outstanding amount of Bank Guarantees: Rs.23,14,00,000/- (Previous
 Year Rs.2,42,00,000/- ).
 
 b) Claim against the Company not acknowledged as debts:
 Rs.83,967/-(Previous year Nil ).
 
 c) Income Tax (TDS) liability that may arise in respect of matters in
 appeals Rs.13,71,770/- (Amount deposited under protest Rs.3,25,000/-)
 [Previous year 6,43,810/-(Amount deposited under protest
 Rs.3,25,000/-)].
 
 2) Estimated amount of contracts, remaining to be executed on capital
 account (net of advances) is 1009 Crores. (Previous Year Rs.2612
 Crores)
 
 3) The Company has provided a letter of comfort to ICICI Bank. UK Plc.,
 and ICICI Bank, Canada, in respect of financial assistance, equivalent
 to USD 50 million each, to Jaiprakash Associates Limited. In the event
 of default, if any, in repayment of said facilities the liability of
 the lenders of the Company shall have priority.
 
 4) a) The Company has mortgaged 40 acres of land situated at Noida in
 favour of IDBI Trusteeship Securities Limited for the benefit of
 debenture holder(s) of 9000 Secured Redeemable Non - Convertible
 Debentures aggregating to Rs. 900 Crores issued by Jaiprakash
 Associates Limited.
 
 b) Out of the said 40 acres of land, the Company has entered into an
 ''Agreement to Sell'' dated 15th December, 2009 for 15 acres of land with
 Jaiprakash Associates Limited. The Company has requested for
 substitution of mortgage for the said land, which is under
 consideration by the bank.
 
 5) The Company has given an Undertaking to ICICI Bank Ltd to exercise
 the option to purchase the outstanding amount of the facility of Rs.
 250 crores sanctioned by ICICI Bank Ltd to M/s Jaypee Sports
 International Ltd(JPSI), a fellow subsidiary Company, by way of
 Optionally Convertible Cumulative Redeemable Preference Shares
 (OCCRPS), after five years or under the circumstances as stipulated
 under the terms and conditions of the sanction.
 
 6) a) The Term Loan from the lenders is secured by way of registered
 mortgage ranking pari passu on (i) about 41 KM land for constructing
 the Yamuna Expressway (ii) Land for Development admeasuring
 approximately 1032.7518 acres at Mirzapur and 150 acres each at Dankaur
 & Tappal (iii) charge on all the moveable properties (including all
 receivables/ revenues) relating to the Yamuna Expressway both present
 and future, (iv) pledge of 51% shares of the issued share capital of
 the Company held by Jaiprakash Associates Limited (JAL) and (v)
 personal guarantee of Shri Manoj Gaur, Chairman cum Managing Director.
 
 b) 2% redeemable Non-Convertible Debentures (NCDs) of Rs.10,00,000/-
 each aggregating to Rs.1000 Crores are secured by subservient charge on
 41 KM land for constructing the Yamuna Expressway, Land for Development
 admeasuring approx. 1032.7518 acres at Mirzapur and 150 acres each at
 Dankaur and Tappal, and all the moveable properties (including all
 receivables/ revenues) relating to the Yamuna Expressway both present
 and future, Corporate guarantee of Jaiprakash Associates Limited and
 personal guarantee of the Directors namely Shri Manoj Gaur, Shri Sunil
 Kumar Sharma and Shri Sameer Gaur, and are redeemable during 2012-14 in
 five equal installments along with redemption premium at the rate of
 approximately 10.50% p.a.
 
 7) The Company has repaid during the year the Secured Redeemable Non
 Convertible Debentures of Rs. 500 Crores subscribed by Axis Bank Ltd on
 interest reset date i.e.27th May 2010. The Company has also prepaid Rs.
 700 crores to ICICI Bank Ltd against their outstanding out of the loan
 of Rs. 3700 Crores as sanctioned by the consortium of Banks in January,
 2010.
 
 8) The Company had raised Rs.1,650 Crores from capital market through
 Initial Public Offer in May, 2010. Jaiprakash Associates Limited (JAL),
 the holding company had also simultaneously made an offer for sale of
 6,00,00,000 Equity Shares of the Company held by it. The Company had
 issued 16,29,33,497 Equity Shares of Rs.10/- each subsequently. The
 utilization of proceeds of Initial Public Offer is in accordance with
 the prospectus.
 
 9) In the opinion of Board of Directors, the Current Assets, Loans and
 Advances have a value on realization in the ordinary course of
 business, at least equal to the amount at which they are stated in the
 Balance Sheet.
 
 10) Incidental Expenditure During Construction Pending Allocation in
 Schedule F has been prepared giving the necessary disclosures as
 required under Part II of Schedule VI to the Companies Act, 1956.
 
 11) Capital Work – In - Progress includes Cost of Land, Civil Works,
 Advance to Contractors and others including advance of
 Rs.497,18,92,862/- to Jaiprakash Associates Limited (Previous year
 Rs.928,25,48,030/-) Maximum balance outstanding during the year –
 Rs.928,25,48,030/-).
 
 12) Interest received Rs.75,75,63,278/- (TDS of Rs.7,98,60,909/-)
 [Previous year Rs.9,58,14,777/- (TDS Rs.1,12,14,463/-)] on temporary
 placement of funds in fixed deposit with banks, has been adjusted
 against interest expense shown in Schedule ''F'' and Schedule ''P'' as per
 AS-16.
 
 13) (a) Provident Fund - Defined contribution Plan All employees are
 entitled to Provident Fund Benefit as per law. Amount debited to
 financial statements is Rs.56,63,732/- during the year (Previous year
 Rs.44,64,575/-).
 
 b) 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 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
 benefit of employees. As a subsidiary of JAL, the company is
 participating in the trust fund by contributing its liability accrued
 upto the close of each financial year to the trust fund.
 
 Actuarial Assumptions
 
 (i) Discount Rate 8%
 
 (ii) Mortality LIC (1994-96)
 
 (iii) Turnover Rate Up to 30 years - 4%, 31-44years - 4%,
 
 Above 44 years -4%
 
 (iv) Future Salary Increase 8.00%
 
 17) Related Party Disclosures, as required in terms of ''Accounting
 Standard [AS] - ''18'' are given below:
 
 Relationships (Related party relationships are as identified by the
 Company and relied upon by the Auditors)
 
 (a) Holding Company: Jaiprakash Associates Limited (JAL)
 
 (b) Fellow Subsidiary Companies:
 
 (1) Jaiprakash Power Ventures Limited
 
 (2) Jaypee Powergrid Limited (Subsidiary of Jaiprakash Power Ventures
 Limited)
 
 (3) Sangam Power Generation Company Limited (Subsidiary of Jaiprakash
 Power Ventures Limited)
 
 (4) Prayagraj Power Generation Company Limited (Subsidiary of
 Jaiprakash Power Ventures Limited)
 
 (5) Jaypee Arunachal Power Limited (Subsidiary of Jaiprakash Power
 Ventures Limited)
 
 (6) Jaypee Meghalaya Power Limited (Subsidiary of Jaiprakash Power
 Ventures Limited)
 
 (7) Bina Power Supply Limited (Subsidiary of Jaiprakash Power Ventures
 Limited)
 
 (8) Jaypee Karcham Hydro Corporation Limited (Subsidiary of Jaiprakash
 Power Ventures Limited)
 
 (9) Jaypee Ganga Infrastructure Corporation Limited
 
 (10) Himalyan Expressway Limited
 
 (11) Jaypee Sports International Limited
 
 (12) Jaypee Cement Corporation Limited (wef 22.02.2011)
 
 (13) Bhilai Jaypee Cement Limited
 
 (14) Bokaro Jaypee Cement Limited
 
 (15) Gujarat Jaypee Cement & Infrastructure Limited
 
 (16) Jaypee Agra Vikas Limited
 
 (17) Jaypee Fertilizers & Industries Limited (w.e.f.03.06.2010)
 
 (c) 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) (wef 16.07.2010)
 
 (8) Ibonshourne Limited (Subsidiary of Indesign Enterprises Pvt.
 Limited) (wef 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 (wef 21.06.2010)
 
 (14) Kanpur Fertilisers and Cement Limited (Subsidiary of Jaypee Uttar
 Bharat Vikas Pvt. Limited) (wef 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 Infra Ventures (A Private Company with unlimited liability)
 
 (24) Ceekay Estates Private Limited.
 
 (25) Jaiprakash Exports Private Limited.
 
 (26) Bhumi Estate Developers Private Limited.
 
 (27) Jaypee Technical Consultants Private Limited.
 
 Following Associate Companies have since merged with Jaypee Ventures
 Private Limited during the year ended 31.03.2011:
 
 (28) Pee Gee Estates Private Limited
 
 (29) Vinamra Housing & Constructions Private Limited
 
 (30) Vasujai Estates Private Limited
 
 (31) Samsun Estates Private Limited
 
 (32) Sunvin Estates Private Limited
 
 (33) Manumanik Estates Private Limited
 
 (34) Arman Estate Private Limited
 
 (35) Suneha Estates Private Limited 
 
 (d) Key Managerial Personnel (KMP):
 
 (1) Shri Manoj Gaur, Chairman cum Managing Director.
 
 (2) Shri Sameer Gaur, Joint Managing Director.
 
 (3) Shri O.P.Arya, Managing Director –cum- Chief Executive Officer
 (upto 20.12.2010).
 
 (4) Shri Sachin Gaur, Whole-time Director & CFO.
 
 (5) Smt. Rita Dixit, Whole-time Director.
 
 (6) Smt. Rekha Dixit, Whole-time Director (w.e.f. 01.06.2010).
 
 (7) Shri Har Prasad, Whole-time Director.
 
 (8) Shri Anand Bordia, Whole-time Director & C.F.O.(up to 31.01.2011).
 
 (9) Shri S.K.Dodeja, Whole-time Director (up to 21.09.2010).
 
 1 Details of guarantees for loans/NCDs taken by Jaiprakash Associates
 Ltd, holding company and Jaypee Sports International Limited, fellow
 subsidiary company from banks/ financial institutions are stated
 elsewhere in the Notes
 
 2 Previous year figures are given in brackets
 
 18) The Yamuna Expressway Project is an integrated project which
 interalia include construction, operation and maintenance of Yamuna
 Expressway and right for land development of 25 million sq.mtrs.
 alongwith the proposed expressway. Keeping this in view, segment
 information is not provided since the company has only one segment.
 
 19) (a) Provision for current taxation of Rs.368,34,00,000/-(Previous
 Year Rs.99,86,00,000/-) towards Minimum Alternative 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 upto next ten years to be adjusted against the normal tax
 payable, if any, in those years.
 
 The above said provision includes wealth tax of Rs.3,39,000/- (Previous
 year Rs.3,35,000/-).
 
 b) Provision for deferred Tax has not been made as deferred tax
 liability arising due to the timing differences during the tax holiday
 period is less than the deferred tax assets.  However the provision for
 deferred tax assets has not been created as a matter of prudence.
 
 21) All the figures have been rounded off to the nearest 
 
 22) Previous year figures have been reworked/regrouped/rearranged
 wherever necessary to conform to current year classification.