Terms /Rights attached to Equity Shares
 
 The Company has only one class of equity shares having a par value of
 Rs. 10 per share. Each holder of equity shares is entitled to one vote
 per share.
 
 In the event of liquidation of the Company, the holders of equity
 shares will be entitled to receive remaining assets of the Company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of equity shares held by the
 shareholders.
 
 * Amount Written off in respect of Leasehold land for the period of
 lease which has expired.
 
 ** Building was revalued on 1st April, 2005 with reference to the fair
 market value; amount added on revaluation was Rs.76,558,113; the
 revalued amount substituted for historical cost on 1st April 2005 was
 Rs. 126,130,511, based on report issued by approved independent valuer.
 
 Note:
 
 1.  Adjustments/ deductions include obsolete fixed assets discarded
 during the year. (Cost Rs.Nil accumulated depreciation and amortization
 Rs.Nil) (Previous year Cost Rs.66,180 and depreciation and amortization
 Rs 13,373)
 
 2.  Figures shown in brackets are in respect of Previous Period.
 
 1.  (i) In rupees               As at 31.03.2012    As at 31.03.2011
 
 Claims against Company not 
 acknowledged as debt and 
 pending before the Courts in           887,150            882,963
 
 Mumbai. The Company expects 
 that the matter will be re
 solved in Company''s favour 
 and no liability is expected.
 
 (ii) Contingent Liability :
 
 In rupees
 
 Particulars                      As at 31.03.2012    As at 31.03.2011
 
 Disputed ESIC Liability:                  135,627             135,627
 
 ESIC demand disputed and 
 pending decisions before 
 higher authorities.
 Amount paid there against 
 and included under Short 
 Term Loans and Advances
 
 Note No.15 Rs.35,000 
 Previous year (Rs.35,000)
 
 2.  (a) The Company, considering the erosion/substantial erosion in
 the net worth of its wholly-owned subsidiaries located at U.S.A.,
 U.K. and Singapore, had made provision for diminution in the value of
 investments in the said subsidiaries aggregating to Rs. 214,674,767
 (Previous year Rs.214,674,767) and for doubtful loans/advances given to
 said subsidiaries aggregating to Rs.114,306,058 (Previous year
 Rs.114,306,058) and also for doubtful debts being debts due from one of
 the step down subsidiary located at UK and a wholly-owned subsidiary
 located at U.S.A. of Rs.17,393,388(Previous year Rs.17,393,388).
 
 Out of the two subsidiaries located at U.K. one subsidiary stands
 dissolved in the previous year and another stands dissolved in the
 current year. The step down subsidiary was also dissolved in the
 earlier year. Pursuant to application made to the Regulatory Authority,
 the name of the subsidiary located at Singapore had been Struck Off in
 the previous year.
 
 Consequent to such dissolutions/ struck off, the Company is in the
 process of seeking approvals from the Reserve Bank of India (RBI), for
 writing off these amounts from the books of account. The Company would
 make the necessary adjustments as and when approvals from the RBI are
 received. Such adjustments would have no impact on the Profit and Loss
 Account.
 
 (b) A wholly-owned subsidiary located at UK, was dissolved during the
 year. Accordingly, in the previous year, Exceptional Item of
 Rs.1,517,688 on account of loan written back as no longer payable to
 said subsidiary, was credited to Profit and Loss Account.
 
 The deferred tax assets, not recognized as at the year end, would be
 accounted for in the subsequent year/years considering the requirements
 of the Accounting Standard (AS) 22 on  Accounting for Taxes on
 Income, regarding reasonable/virtual certainty and the accounting
 policy followed by the Company in this respect.
 
 FOB Value of Exports includes:
 
 Software Services Exports Rs. 3,203,139 (Previous year Rs. 3,799,578)
 and Income from Software Services by foreign Branch Rs. 8,103,801
 (Previous year Rs. 5,594,564)
 
 * Repayable on demand and interest free.
 
 ** Interest bearing loan @7% p.a. up to March 31,2005, interest free
 thereafter and repayable by March 31, 2007 as per revised repayment
 schedule, as approved by the Board of Directors and intimated to
 Reserve Bank of India as per Foreign Exchange Management Act, 1999
 (FEMA).
 
 # Amounts outstanding as at March 31, 2012 stand fully provided for
 towards doubtful recoveries.
 
 Note: There are no investments by the loaners in the shares of the
 parent company and /or subsidiary companies.
 
 3. The Company has presented the data relating to its segments based
 on its consolidated financial statements, which are presented in the
 same annual report. Accordingly in terms of provisions of Accounting
 Standard (AS) 17 on ''Segment Reporting, no disclosures related to
 segments are presented in its stand-alone financial statements.
 
 * Of these, Rs.42,348,262 (previous year Rs. 42,348,262) has been
 provided towards doubtful recoveries.
 
 ** Fully provided towards doubtful recoveries (previous year
 Rs.71,954,100).
 
 Note: Figures in Brackets indicate previous year figures.
 
 4. Post Employment Benefit Plans
 
 (i) Defined contribution plans
 
 The Company makes contributions towards provident fund to a defined
 contribution retirement benefit plan for qualifying employees. The
 Provident Fund plan is operated by Regional Provident Fund
 Commissioner. Under the plan, the Company is required to contribute a
 specified percentage of payroll cost to the retirement benefit plan to
 fund the benefits.
 
 The Company recognized Rs. 6,775,404 (Previous year Rs. 6,335,783) for
 provident fund contributions in the profit and loss account. The
 contributions payable to these plans by the Company are at rates
 specified in the rules of the schemes.
 
 (ii) Defined benefit plan
 
 The Company has defined benefit plan for qualifying employees in
 respect of Gratuity benefits. The scheme provides for payment to vested
 employees as under:
 
 On Normal retirement/early retirement/withdrawal/resignation:
 
 As per the provisions of Payment of Gratuity Act, 1972 with vesting
 period of 5 years of service.
 
 On death in service:
 
 As per the provisions of Payment of Gratuity Act, 1972 without any
 vesting period.
 
 The most recent actuarial valuation of the present value of defined
 benefit obligation for gratuity was carried out at March 31, 2012 by an
 actuary. The present value of the defined benefit obligations and the
 related current service cost and past service cost, were measured using
 the Projected Unit Credit Method.
 
 5.  Trade receivables, trade payables, short term loans and advances,
 other current assets and other current liabilities are subject to
 confirmation and reconciliation if any.
 
 6.  Previous year''s figures have been regrouped wherever necessary,
 to correspond with the figures of the current year. Amounts and other
 disclosures for the preceding year are included as integral part of the
 current year financial statements and are to be read in relation to the
 amounts and other disclosures relating to the current year. Figures
 have been rounded off to the nearest rupee.