1.  Contingent Liabilities not provided for in respect of:
 
                                                      Rs. in Crores
 
 Particulars                           Current Year    Previous Year
 
 Guarantees/Bank Guarantees Outstanding    696.64         315.49
 
 Pledge of Securities (Refer Schedule F)   434.38         723.69
 
 Income Tax matters (excluding additional 
 interest, if any)                          78.35           7.21
 
 Other tax matters                           0.84            -
 
 2.  (i) Estimated amount of contracts remaining to be executed on
 Capital Account and not provided for (net of advances) Rs. 802.96 crores
 (Previous Year Rs.1.10 Crores)
 
 (ii) The Company has given unconditional undertakings to the lenders of
 the power projects being setup by its subsidiary companies Raj West
 Power Ltd. and Jaigad Power Transco Ltd. for meeting any shortfall in
 completing the project, due to cost overrun, if any.
 
 3.  Scheme of amalgamation:
 
 Amalgamation of JSW Energy (Ratnagiri) Ltd. (JSWERL) with the Company:
 
 A Scheme of Amalgamation (Scheme) of the Transferor Company with the
 Company was sanctioned by the Honble High Court of Judicature of
 Bombay vide its order dated 24th September, 2010. The transferor
 company JSWERL is in the business of generation of power. The
 Amalgamation is in the nature of a merger as defned by Accounting
 Standard (AS) 14 Accounting for Amalgamations prescribed by the
 Companys (Accounting Standards) Rules, 2006. Entries have been passed
 in the books of account to give effect to the Scheme, as follows:
 
 a) With effect from the Appointed date i.e 1st April, 2010, all the
 assets and liabilities recorded in the books of the Transferor
 Companies are transferred to and vested in the Company pursuant to the
 Scheme and are recorded by the Company at their book values.
 
 b) The Companys 100% equity shareholding in JSWERL has been cancelled.
 
 c) The Amalgamation has been accounted for under the  Pooling of
 Interests Method as prescribed by Accounting Standard (AS) 14
 Accounting for Amalgamations prescribed by the Companys (Accounting
 Standards) Rules, 2006.
 
 Pursuant to the Merger, in respect of free hold land and lease hold
 land at Ratnagiri, steps are being taken to transfer the title deeds
 into the name of the Company.
 
 4.  Building under Construction under Capital Work-in-Progress
 represents the Companys 50% share in the property located at Bandra
 Kurla Complex, Mumbai, jointly owned with another group company. During
 the year, the Company has acquired 50% interest in the property from a
 subsidiary company for an aggregate consideration of Rs. 367.87 crores.
 
 5.  The Company was supplying power to Karnataka Power Transmission
 Corporation Limited (KPTCL) on the basis of the rate approved by
 Government of Karnataka, which was incorporated in the Power Purchase
 Agreement (PPA), dated 27th November, 2000. On the application by KPTCL
 to Karnataka Electricity Regulatory Commission (KERC) for approval of
 PPA, KERC had passed Order in July 2002 reducing the tariff
 retrospectively from 1st August, 2000. The Companys appeal against the
 said Order was decided by the Karnataka High Court vide its Order dated
 8th April, 2004 in favour of the Company. KPTCL and KERC fled Special
 Leave Petition before the Honourable Supreme Court challenging the
 Order of Karnataka High Court. As against the outstanding amount of Rs.
 105.35 Crores, in terms of the interim order dated 23rd January, 2007
 of Supreme Court, KPTCL paid Rs. 100.00 crores against bank guarantee
 provided by the Company. The balance amount of Rs. 5.35 crores (Previous
 Year Rs. 5.35 crores) due from KPTCL is included in Sundry Debtors and
 considered as good and recoverable.
 
 6.  (i) In the opinion of the Management, 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. Provision for depreciation and all known liabilities is
 adequate and not in excess of what is required.
 
 (ii) The Company is yet to receive balance confrmations in respect of
 certain sundry debtors, sundry creditors and advances.  The Management
 does not expect any material difference affecting the current years
 financial statements due to the same.
 
 7.  The Company does not have reportable segments in terms of
 Accounting Standard 17 prescribed by the Companies (Accounting
 Standards) Rules, 2006.
 
 8.  (i) Capital Advance include Rs.75 crores (Previous Year Rs.75 crores)
 paid towards acquisition of offces / residential property to be
 constructed.
 
 (ii) Loans and Advance include Rs. 29.69 crores (Previous Year Rs.5.80
 crores) paid as interest free loan to JSW Energy Employees Welfare
 Trust.
 
 9.  During the year, the Company has purchased and sold 7,840,564,028
 (Previous year 7,168,670,059) various Mutual Funds Units of face value
 of Rs. 10 each.
 
 10.  During the year, in connection with the issue of Non-convertible
 Debentures aggregating to Rs. 3,600 crores, the Company has incurred Rs.
 36.75 Crores towards debenture issue expenses and the same has been
 written off from Securities Premium Account.
 
 11.  The company has taken certain premises on cancelable Operating
 lease arrangement with JSW Steel Ltd. Major terms of the agreement are
 as under:
 
 a.  Annual lease rent : Rs. 15,000 (Previous Year Rs. 15,000)
 
 b.  Tenure of lease: lease agreement valid till 31st March 2033.
 
 c.  Lease Deposit: Rs. 6.49 crores (Previous Year Rs. 6.49 crores)
 
 12.  The Company has been legally advised that the Company is
 considered to be established with the object of providing
 infrastructural facilities and accordingly, Section 372A of the
 Comanies Act, 1956 is not applicable to the Company.
 
 13.  Related Party Transactions A List of Related Parties
 
 I Direct and step down Subsidiaries (Control exists)
 
 1 JSW Power Trading Company Limited
 
 2 Raj WestPower Limited
 
 3 PT. Param Utama Jaya, Indonesia
 
 4 Jaigad Power Transco Limited
 
 5 JSW Energy (Raigarh) Limited
 
 6 JSW Energy (Bengal) Limited
 
 7 JSW Green Energy Limited
 
 8 JSW Energy Natural Resources (BVI) Limited
 
 9 JSW Energy Minerals Mauritius Limited
 
 10 JSW Energy Natural Resources Mauritius Limited
 
 11 JSW Energy Natural Resources South Africa (Pty) Limited
 
 12 South African Coal Mining Holdings Limited
 
 II Associates/Parties with whom the Company has entered into
 transactions during the year:
 
 1 JSW Steel Limited
 
 2 J Soft Solutions Limited
 
 3 Windsor Residency Private Limited
 
 4 Toshiba JSW Turbine & Generator Private Limited
 
 5 JSW Cement Ltd.
 
 6 Gagan Trading Company Limited
 
 7 JSW Realty & Infrastructure Pvt. Ltd.
 
 8 JSW Techno Projects Management Limited
 
 9 Barmer Lignite Mining Company Limited**
 
 10 JSW Jaigarh Port Limited
 
 11 JSW Infrastructure Limited
 
 12 JSW Infrastructure & Development Pvt. Limited
 
 13 Jindal Technologies & Management Services Pvt. Ltd.
 
 14 Jindal Steel & Power Ltd.
 
 ** Joint Venture between a subsidiary RajWest Power Limited and
 Rajasthan State Minerals and Metals Limited
 
 III Key Managerial Personnel
 
 1 Mr. Sajjan Jindal – Chairman & Managing Director
 
 2 Mr. N.K. Jain – Vice Chairman
 
 3 Mr. L.K. Gupta – Jt. Managing Director & CEO (from 01/06/2010)
 
 4 Mr. S.S. Rao – Jt. Managing Director & CEO up to 31/05/2010. Whole
 time Director from 01/06/2010
 
 14.  Previous years figures have been regrouped / rearranged wherever
 necessary to conform to current years classifcation.