1.  Contingent liabilities not provided for in the books of accounts
 are:
 
 a) Bank Guarantee: Rs. 124.55 Lacs (Previous Year: Rs. 44.90 Lacs); Central
 Excise and Service Tax: Rs. 139.44 Lacs (Previous Year: Rs. 52.94 Lacs);
 Income Tax: Rs. 91 Lacs (Previous Year: Rs. 187.02 Lacs); Bills
 Discounting: Rs. 1140.13 Lacs (Previous Year: Rs. 405.22 Lacs) and Others Rs.
 73.94 Lacs (Previous Year: Rs. 10.26 Lacs).
 
 b) As per agreement executed with Maruti Suzuki India Ltd (MSIL), being
 Maruti Car Scheme in which loan facility has been granted to
 Company''s employee and other associates on the recommendation of the
 Company by MSIL.  The Company has taken responsibility to make such
 payment. The amount so outstanding at the year end is Rs.90.53 Lacs
 (Previous Year: Rs. 198.64 Lacs).
 
 2 a) Pursuant to the scheme of amalgamation, sanctioned by the order
 dated 25th January, 2011 of Hon''ble High Court, Delhi, Minda Autogas
 Ltd. (MAGL) engaged in the manufacturing of CNG/LPG kits has been
 amalgamated with the Company with effect from April 01, 2009.
 
 b) The amalgamation has been accounted for under the ‘pooling of
 interest'' method as prescribed by Accounting Standard - 14 on
 ''Accounting for amalgamation''.
 
 Accordingly the Assets, Liabilities and Reserves of the erstwhile MAGL
 as at 1st April, 2009 along with the subsequent addition/ deletion upto
 31st March, 2010 has been transferred in accordance with the said
 scheme.
 
 The profit of the amalgamating Company during the financial year
 2009-10 has been transferred to the Company without opening the account
 of the Company for the financial year 2009-10, The Current Year
 transactions are duly incorporated in the books of the Company.
 
 Figures for the current year include the figures of erstwhile MAGL.
 Therefore, current year figures are not comparable with those of
 previous year.,
 
 c) Based on the approved swap ratio as provided in the scheme of
 Amalgamation, 2405128 number of equity shares has been issued to the
 equity shareholders of erstwhile MAGL in the ratio of 4 equity shares
 of the face value ofRs. 10/- each in the Company for every 10 equity
 shares of the face value ofRs. 10/- each held in erstwhile MAGL.  In term
 of the scheme, the said equity shares shall rank in all respect
 pari-passu with the existing equity shares of the Company.
 
 d) The difference between the amount of share capital of the erstwhile
 MAGL and the amount of fresh capital issued by the Company on
 amalgamation amounting to Rs. 36,076,930/- has been treated as General
 Reserve.
 
 e) The financial statement of the amalgamating Company Minda Autogas
 Ltd. till 31st March, 2010 has been audited by firm other than M/s.  
 R.N. Saraf & Co.,
 Chartered Accountants.
 
 3.  The estimated amount of contracts remaining to be executed on
 capital account, not provided for Rs. 264.21 Lacs (Previous Year: Rs.
 658.99 Lacs).
 
 4.  a) During the year 2002-03, The Director, Town and
 Country Planning, Chandigarh issued a demand notice of Rs. 37.93 Lacs
 towards revised CLU charges for the land situated at Village Nawada
 Fatehpur, P.O. Sikenderpur Badda, Gurgaon, Haryana. The Company has
 filed Special Leave Petition with Hon''ble Supreme Court of India, in
 which leave has been granted and the Company has deposited Rs. 9.50 Lacs
 shown (Previous Year: Rs. 9.50 Lacs) under the head Loans and Advances.
 
 b) The export obligation pending till the end of the year was of Rs.
 7548.37 Lacs (Previous Year : Rs. 5681.32 Lacs) to be fulfilled in the
 subsequent years.
 
 c) Corporate Guarantee provided by the Company aggregating to Rs. 1500
 Lacs (Previous Year : Rs. 2925.00 Lacs).
 
 5.  The Company has availed sales tax incentives for its unit at
 Gurgaon, Haryana, from Government of Haryana as sales tax capital
 subsidy amounting to Rs. 225.65 Lacs. In accordance with Scheme of
 Government of Haryana for Development of Industries, the amount may be
 refundable to the Government, if specified conditions are not
 fulfilled, within the prescribed time.
 
 6.  During the year 2007-08, the Company has entered lease cum sale
 agreement with Karnataka Industrial Area Development Board for purchase
 of land, as per the agreement, the sale deed will be executed on
 fulfillment of terms and conditions within six years.
 
 7.  The Company is engaged in the business of manufacturing of
 automotive parts and accessories and there are no separate reportable
 segments as per Accounting Standard-17 Segment Reporting issued by
 the Institute of Chartered Accountants of India.
 
 Key Management Personnel:
 
 Mr. Nirmal K. Minda, Chairman and Managing Director:
 
 Mr. Vivek Jindal, Executive Director
 
 Relatives of Key Management Personnel:
 
 Relatives of Mr. Nirmal K. Minda
 
 Late Sh. S.L. Minda, Father (till 17.04.2010), Savitri Devi Minda
 (Mother), Suman Minda (Wife), Paridhi Minda Jindal (Daughter), Palak
 Minda (Daughter), Ashok Minda (Brother), Sarika Minda (brother''s wife),
 Rekha Bansal (Sister),Rajesh Bansal(Sister''s husband)
 Relatives of Mr. Vivek Jindal.
 
 Madan Jindal (Father), Anita Jindal (Mother), Paridhi Minda Jindal
 (Wife), Samaira Jindal (Daughter), Abhishek Jindal (Brother)
 
 (v) Other Entities over which key Management Personnel is able to
 exercise significant influence (with which the parent Company has
 transactions)
 
 Minda Acoustic Ltd., Minda Sai Ltd., PT.  Minda Asean Automotive, Minda
 Corporation Ltd., Unitech Sai Pvt. Ltd., Minda Stoneridge Instruments
 Ltd.,Minda Finance Ltd., Minda Autocare Ltd., Minda Investments
 Ltd.,Minda International Ltd., Minda EMER Technologies Ltd., Jindal
 Buildtech Pvt. Ltd., Jindal Mectec Pvt.  Ltd., Nirmal K. Minda (HUF),
 Minda Industries (Firm), Auto Component (Firm), Yogendra Engineering
 (Firm).
 
 8. Employee Benefits
 
 a) Pursuant to the adoption of Accounting Standard (AS) 15 (revised
 2005) Employee Benefits, the additional obligations of the Company
 with respect of certain employee benefits upto 31st March''2007 was Rs.
 184.92 Lacs out of which Rs. 147.92 lacs (Previous Year : Rs. 110.95 Lacs)
 [net of deferred taxes of Rs. 99.08 lacs (Previous Year: Rs. 74.38 Lacs)]
 has been adjusted from the General Reserve .
 
 - Defined Benefit Plan
 
 The present value of obligation for Gratuity is determined based on
 actuarial valuation using the Projected Unit Credit (PUC) method, which
 recognizes each period of service as giving rise to additional unit of
 employee benefit entitlement and measures each unit separately to build
 up the final obligation.
 
 Under the PUC method a projected accrued benefit is calculated at the
 beginning of the period and again at the end of the period for each
 benefit that will accrue for all active members of the plan. The
 projected accrued benefit is based on the plan accrual formula and upon
 service as of the beginning or end of period,but using member''s final 
 compensation, projected to the age at which the employee is assumed to 
 leave active service. The plan liability is the actuarial present value 
 of the projected accrued benefits as of the beginning and end of the 
 period for active members.
 
 The obligation for Leave Encashment is recognized in the same manner as
 Gratuity. Provision on Earned leave has been made in the previous year
 the sick leaves were also provided for.
 
 9 The figures of previous year have been regrouped/recast/restated
 wherever necessary.