1.  Contingent Liability not provided for -
 
 Claims against the Company not acknowledged as debts :
 
                                                2010-11      2009-10
 
 i) Income Tax under appeal*                  9,227,985    2,509,035
 
 ii) Sales Tax under appeal                   5,325,164      369,000
 
 * Rs. 74,044/- (Previous year - Rs. 74,044/-) paid under protest.
 
 2.  Estimated amount of contract remaining to be executed on capital
 account and not provided for Rs. 5,195,019/- (31.03.2010 - Rs.
 6,435,309/-) (Net of Advances).
 
 3.  Debts of a subsidiary acquired of Rs. 524.27 lacs in Schedule ''9''
 represents debts of The Cochin Malabar Estates & Industries Limited
 (CMEI) acquired in financial year 2008-09. The Company has entered into
 an revival agreement with The Cochin Malabar Estates & Industries
 Limited which inter alia provides the Company''s right to recompense the
 benefits of debt acquisition and prescribes certain parameters for
 interest accrual on such debt. The Company is on revival path and
 parameters to trigger right of recompense are yet to be achieved.
 
 4.  Transfer of certain assets/liabilities from/to transferor
 companies/demerged units under the scheme of arrangement/amalgamations
 carried out in earlier years are still in the process of completion.
 
 5.  As reported last year, the debtor, having an overdue outstanding of
 Rs.52.39 lacs (Previous year - Rs.78.36 lacs), has come forward and
 expressed his willingness to settle the outstanding amount. In terms of
 settlement the party has paid cheques along with overdue interest.
 However, the same could not be encashed. Steps are being taken to
 recover the amount and is considered good of recovery by the
 management.
 
 6.  The Company''s entitlement to deduction under Section 80-1C of the
 Income Tax Act, 1961 in respect of income generated from facilities
 situated in North East states is pending before Hon''ble High Court
 since assessment year 2004-05. Pending disposal of appeal by the
 Hon''ble High Court, the Company continues to claim benefit under
 Section 80-IC which for the year amounts to Rs. 30.19 lacs (till date
 Rs. 83.59 lacs). The management of the Company does not foresee any
 additional liability of the income tax at this point.
 
 7.  The Company has paid dividend distribution tax to the extent of 40%
 of the applicable rates based on a similar judgment in case of another
 tea company. However the Company has continued to provide the dividend
 distribution tax at applicable rates in view of pendency of identical
 matter before Hon''ble Supreme Court. As the entire dividend
 distribution liability is provided, there is no impact on the profit &
 loss during the year and the management does not foresee any additional
 liability in this regard.
 
 8 Miscellaneous Expenditure under Schedule -14 includes revenue
 expenditure on research and development Rs. 175,206/- (Previous year -
 Rs. 209,084/-) incurred towards subscription to Tea Research
 Association.
 
 9.  The amount of borrowing costs capitalized during the year is Rs.
 Nil.
 
 10.  The exposure of the Company in foreign currency at the end of the
 year is Rs. Nil (Previous year -Rs. Nil).
 
 11.  The Company is mainly engaged in the production of tea, coffee and
 minor produces. In the opinion of the management the above product
 relate to plantation activities only and therefore do not form separate
 segment for the purpose of segment reporting under Accounting Standard
 -17 on segment reporting as notified under The Companies Accounting
 Standard Rule 2006. None of the income from other sources falls under
 the criteria of reportable segment as per the relevant provision of the
 Accounting Standard.
 
 12.  Employee Benefits (Revised Accounting Standard 15)
 
 a) Defined Contribution Plan
 
 The Company makes contribution towards Provident Fund and
 Superannuation Fund to a defined contribution retirement plan for
 qualifying employees. The Provident Fund plan is operated by duly
 constituted and approved independents, trustees/ governments. Under the
 said scheme the Company is required to contribute a specific percentage
 of pay roll costs in respect of eligible employees to the retirement
 benefit scheme to fund the benefits.
 
 The Company operates a superannuation scheme for certain employees and
 contributions by the Company under the scheme, is charged against
 revenue every year.
 
 During the year the Company has contributed Rs. 11,644,976/- (Previous
 year - Rs. 10,276,795/-) for Provident Fund and Pension Fund and Rs.
 2,559,300/- (Previous year - Rs. 2,209,555/-) for Superannuation Fund.
 The contributions payable to these plans by the Company are at the
 rates specified in the rules of the scheme.
 
 b) Defined Benefit Plans
 
 i) The Company makes annual contribution of gratuity to Gratuity Funds
 duly constituted and administered by independent trustees and funded
 with LIC/independent trust for the qualifying employees. The scheme
 provides for a lump sum payment to vested employees upon retirement,
 death while in employment or on termination of employment of an amount
 equivalent to 15 days salary payable for each completed year of
 service. Vesting occurs upon completion of 5 years of continuous
 service.
 
 ii) The employees of the Company are also eligible for encashment of
 leave upon retirement up to 30 days for each year (maximum 120 days).
 The benefit obligation related to leave liability are funded with Life
 Insurance Corporation of India.
 
 iii) The present value of defined obligation and related current cost
 are measured using the projected unit credit method with actuarial
 valuation being carried out at each balance sheet date.
 
 (a) Amount not recognised as an asset, because of the limit prescribed
 in Accounting Standard -15 (Revised 2005) i.e. Employee Benefits isRs.
 Nil.
 
 (b) There is no reimbursement right at the Balance Sheet date.
 
 (c) Fair value of plan assets does not include any amount for companies
 own financial instruments or any property occupied by, or other assets
 used by, the Company.
 
 (d) The estimates of future salary increases, considered in actuarial
 valuation, take account of inflation, seniority, promotion and other
 relevant factors, such as supply and demand in the employment market.
 
 (e) The Gratuity Scheme is invested in a Group Gratuity - Cum- Life
 Assurance Cum Accumulation Policy offered by Life Insurance Corporation
 of India and the Independent Administered Gratuity Fund. The
 information on the allocations of fund managed by LIC into major assets
 classes and expected return on each major classes are not readily
 available. In case of Company''s administered trust, 100% allocation of
 fund has been made towards government securities. The expected rate of
 return on plan assets is based on the assumed rate of return provided
 by Company''s actuary.
 
 (f) The Company expects to contribute Rs. 58.15 lacs to its Gratuity
 Fund in 2011-12.
 
 (h) Comparative values of defined benefit plans for the past three
 years instead of four financial years as required by Accounting
 Standard -15 (Revised 2005) on Employee Benefits are provided, this
 being only the fourth year of adoption of the standard.
 
 (i) The disclosure as required by Para 120 of Accounting Standard -15
 Employee Benefit have been made to the extent applicable to the
 Company.
 
 13.  Related party disclosures as required by AS -18 Related Party
 Disclosures are given below : Relationships
 
 (a) Subsidiaries of the Company
 
 Gloster Real Estate Private Limited (GREPL) 
 
 Cowcoody Builders Private Limited (CBPL) 
 
 Pranav Infradev Company Private Limited (PICPL) 
 
 The Cochin Malabar Estate & Industries Limited (CMEI) 
 
 Cochin Estates Limited (sub subsidiary)
 
 (b) Enterprises/Individual having control over the Company
 
 i) GopalDasBangur
 
 ii) Pushpa Devi Bangur
 
 iii) Hemant Bangur
 
 iv) Vinita Bangur
 
 v) Kettlewell Bullen & Company Limited (KBCL)
 
 vi) The Oriental Company Limited (TOCL)
 
 vii) Madhav Trading Corporation Limited (MTCL)
 
 viii) The Cambay Investment Corporation Limited (TCICL)
 
 ix) Credwyn Holdings (I) Private Limited (CHPL)
 
 x) Wind Power Vinimay Private Limited (WPVPL)
 
 (c) Other Companies over which the Key Management Personnel are able to
 exercise a significant influence
 
 i) Gloster Ltd. (GL)
 
 ii) PDGD Investments & Trading Private Limited (PDGD)
 
 iii) KherapatiVanijya Limited (KVL)
 
 (d) Key Management Personnel
 
 i) Mr. Hemant Bangur - Executive Vice-Chairman 
 
 ii) Mr. K.C.Mohta- Executive Director & C.E.O.
 
 14.  Previous year figures have been re-arranged/re-grouped wherever
 necessary.