1.  Contingent liabilities not provided for in respect of:
 
 a.  The Company has been floating 100 % money back guarantee scheme to
 students over the years.  During the year, the Company has given
 assurance to Nil (previous year 28) number of students for getting jobs
 on completion of the course. The Company estimates the possible
 liability in this regard to the tune of Rs. Nil (previous year Rs.
 1,438,838).
 
 b.  Disputed service tax demand (net of provision of Rs.16,758,179)
 aggregating to Rs. 8,375,727 (As at March 31, 2010 Rs. 8,375,727)
 against which the Company has preferred an appeal. The Company has
 deposited upto March 31, 2011 Rs. 12,730,784 (Upto March 31, 2010 Rs.
 10,792,718) under protest.
 
 c.  Disputed income tax demands Rs. Nil (As at 31 March 2010 Rs.
 165,122)
 
 d.  Uncalled Capital commitment in respect of investments in Reliance
 Alternative Investments Fund - Private Equity Scheme I, Rs. 6,500,000
 (previous year Rs. 8,500,000).
 
 2.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for (net of advances) Rs. 66,984,800 (previous
 year Rs. Nil).
 
 3.  Miscellaneous income includes Rs. 591,192 (previous year Rs.
 2,121,373) being unspent liabilities, excess provision and unclaimed
 balances in respect of earlier years written back.
 
 4.  Deferred tax assets / liabilities (net):
 
 Major component of deferred tax balance as at the year end accounted in
 accordance with the Accounting Standard (AS) – 22 “Accounting for Taxes
 on Income” notified by Companies (Accounting Standards) Rules, 2006.
 
 5.  a.  In the opinion of management, 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.  The provision for depreciation and all known liabilities is
 adequate and not in excess of the amount reasonably stated.
 
 b. Balances of certain debtors, creditors and advances given are
 subject to confirmation / reconciliation, if any. The management does
 not expect any material difference affecting the financial statements
 on such reconciliation / adjustments.
 
 6.  The Company is in the process of compiling relevant information
 from its suppliers about their coverage under the Micro, Small and
 Medium Enterprises Development Act, 2006. As the Company has not
 received any intimation from its suppliers as on date regarding their
 status under the above said Act, no disclosure has been made.
 
 7.  Advances recoverable in cash or in kind or for value to be received
 includes Rs. 2,422,962 given to one of the Director against salary.
 During the year, remuneration paid to Directors were based on the
 application made to the Central Government for approval. However,
 subsequently approval for one director was received for lesser amount.
 The Company has written a letter to the Central Government for the
 rectification in the approval letter. Thus, the difference between the
 amount paid and approval received from Central Government is shown as
 advance against salary.
 
 8.  Disclosure under (AS) -15 (Revised 2005):
 
 The Company has provided leave encashment and gratuity based on
 actuarial valuation done as per Projected Unit Credit Method.
 
 i) Retirement benefits in the form of Provident Fund are a defined
 contribution scheme and the contributions are charged to the Profit and
 Loss Account of the year when the contributions to the respective funds
 are due. There are no other obligations other than the contribution
 payable to the respective trusts.
 
 ii) Gratuity and leave encashment liability are defined benefit
 obligation and are provided for on the basis of an actuarial valuation
 made at the end of each financial year.
 
 The Company has classified the various benefits provided to employees
 as under:
 
 II.  Defined benefit plan:
 
 The Company makes annual contributions to the Employees'' Group Gratuity
 of the Life Insurance Corporation (LIC), a funded defined benefit plan
 for qualifying employees. Gratuity is payable to all eligible employees
 on superannuation, death or on separation/termination in terms of the
 provisions of the Payment of Gratuity Act or as per the Company''s
 policy whichever is beneficial to the employees.
 
 The estimates of future salary increases, considered in actuarial
 valuation, take into account inflation, seniority, promotion and other
 relevant factors, such as supply and demand in the employment market.
 
 The expected return on plan assets is determined considering several
 applicable factors mainly the composition of the plan assets held,
 assessed risks of asset management, historical results of the return on
 plan assets.
 
 09.  Segment reporting:
 
 The Company operates in a single primary business segment i.e. “IT
 Training in Hardware and Networking”.  Hence, there are no reportable
 segments as per Accounting Standard (AS) - 17 “Segment Reporting”
 notified by Companies (Accounting Standards) Rules, 2006. The Company
 does not have any reportable geographical segment.
 
 10.  Related party disclosures:
 
 I) Related party relationship:
 
 a) Key management personnel    a) Mr. Suresh G. Bharwani
 
                                b) Mr. Nandu G. Bharwani
 
 b) Relatives of key management a) Mr. Jitu G. Bharwani – Brother of
 personnel                         Suresh Bharwani and Nandu Bharwani
 
                                b) Anisha Bharwani – Wife of 
                                   Suresh G. Bharwani
 
                                c) Harsh Bharwani – Son of 
                                   Suresh G. Bharwani
 
                                d) Avinash Bharwani – Son of 
                                   Suresh G. Bharwani
 
                                e) Siddarth Bharwani – Son of
                                   Suresh G. Bharwani
 
                                f) Dipti Bharwani – Wife of 
                                   Nandu G. Bharwani
 
                                g) Urvashi Bharwani – Daughter of 
                                   Nandu G. Bharwani 
 
                                h) Ritika Bharwani - Daughter of 
                                   Nandu G. Bharwani
 
 c) Enterprises on which key    Jetking Smartrain Academy Pvt. Ltd.
 management personnel or their 
 relatives has significant 
 influence
 
 Notes:
 
 1.  The related party relationships have been determined on the basis
 of the requirements of the Accounting Standard (AS) – 18 “Related Party
 Disclosures” notified by Companies (Accounting Standards) Rules, 2006
 and the same have been relied upon by the Auditors.
 
 2.  The relationships as mentioned above pertain to those related
 parties with whom transactions have taken place during the year, except
 where control exists.
 
 11.  Leases:
 
 a.  The Company has taken various office premises under operating lease
 that are renewable on a periodic basis at the option of both the lessor
 and lessee.
 
 b. The amount of minimum lease payments with respect to the above lease
 recognized in the profit and loss account for the year is Rs. 6,351,331
 (previous year Rs. 8,722,675).
 
 Above disclosure is for leases entered after 1 April 2001, as per
 Accounting Standard (AS) - 19 ''Leases'' notified by Companies
 (Accounting Standards) Rules, 2006.
 
 12.  There is no impairment loss on fixed assets on the basis of review
 carried out by the management in accordance with Accounting Standard
 (AS) - 28 “Impairment of Assets” notified by Companies (Accounting
 Standards) Rules, 2006.
 
 13.  Additional information pursuant to Part II of Schedule VI to the
 Companies Act, 1956:
 
 a) Quantitative details of education and training materials
 
 Quantitative/ value information: (As certified by the management)
 
 14.  The Company is in the process of appointment of Company Secretary
 as required under Section 383A of The Companies Act, 1956.
 
 15.  Previous year''s figures have been rearranged or regrouped,
 wherever considered to conform to the current year''s presentation.