1.  Contingent Liabilities and Commitments
 
 Estimated amount of contracts remaining to be executed on capital
 accounts and not provided for, net of advances is Rs. Nil
 
 2.  Investments
 
 a.  Investment includes 5000 shares of Arihant Optics Limited amounting
 to Rs.500000/- are yet to be transferred in the name of the Company.
 
 b.  Investment includes Rs.14,095/- towards subscription of shares in
 Mahaveer Projects Private Limited.
 
 c.  Investment includes Rs.18,430/- towards subscription of shares in
 Mahaveer Telecom Private Limited.
 
 3.  Fixed Assets
 
 Fixed Assets to the tune of Rs.44,10,000/- held by the company as Land
 & Building at Plot No.47, IDA, Balanagar, Hyderabad acquired in an
 Auction conducted by the Debts Recovery Tribunal Department of Economic
 Affairs, Govt. of India along with one of the Director Sri Rajender
 Kumar Jain were sold during the year and earned a profit on sale of
 such land to the tune of Rs.75,74,000/- and the same were included in
 other income of P&L a/c during the financial year 2010-11.
 
 4.  Segment Reporting
 
 In the opinion of the management the company''s business activity
 carried on during the year consist of more than one reportable segment
 and as such report is given separately.
 
 5.  Related Party transactions
 
 The company has identified all related parties and details of
 transactions are given below. No provision for doubtful debts or
 advances is required to be made. No amounts have been written off or
 written back during the year in respect of debts due from or related
 parties. There are no other related parties where control exists that
 needs to be disclosed.
 
 a) Names of related parties and description of relationship
 
 Nature of Relationship Name of the Related Party
 
 Subsidiary Mahaveer Projects Private Limited
 
 Mahaveer Telecom Private Limited
 
 Key Management Personnel (KMP)
 
 Mr.Ashok Kumar Jain Managing Director
 
 Mr.Rajender Kumar Jain Director
 
 Mr.Vijay Kothari Director
 
 Mr.Jitendra Bhansali Director
 
 Mr.Prasanna Dixit Director
 
 Mrs.Anitha Kothari Director
 
 Mr Vineet Maharia Director
 
 Mr. Budhi Prakash Director
 
 Mr. Vijay Kumar Taori Director
 
 Enterprises where KMP have Mahaveer Skyscrapers Ltd
 
 significant influence
 
 6.  Taxation
 
 Current income tax is ascertained on the basis of assessable profits
 computed in accordance with the provisions of the income tax Act, 1961
 and it is charged to the profit and loss of the year.
 
 7.  Lease Obligations
 
 (i) Lease payments made under cancellable operating leases amounting to
 Rs.7,76,700 (2010 – Rs.9,53,000) have been recognised as an expense in
 the Expenditure during construction period pending allocation (net) and
 Profit and Loss Account as per the generally accepted accounting
 principles..
 
 9. Company has not paid any interest or any interest payable is
 outstanding to Micro, Small or Medium Enterprises (under the provisions
 of Section 16 of the Micro, Small and Medium Enterprises Development
 Act, 2006) during the year ended March 31, 2011.
 
 10.  In the opinion of the Management and to the best of their
 knowledge and belief realization of current assets and loans and
 advances are not less than the amount at which they are stated in the
 Balance Sheet and are subject to confirmation from respective parties.
 
 11.  The management is of the opinion that the carrying amounts of
 fixed assets and other assets are not less than their respective net
 realizable values.
 
 12.  Additional Information pursuant to paragraphs 3, 4, 4-C and 4-D of
 part-II of Schedule VI to the Companies Act, 1956 to the extent either
 Nil or Not Applicable has not been furnished.
 
 13.  Previous year''s figures have been regrouped and reclassified,
 wherever necessary, to conform to those of the current year.