1.  Background
 
 MindTree Limited (MindTree or the Company) is an international
 Information Technology (IT) consulting and implementation company
 that delivers business solutions through global software development.
 The Company is structured into three business units – Information
 Technology (IT) Services, Product Engineering (PE) Services and
 Wireless Services. IT Services offer consulting and implementation and
 post production support for customers in manufacturing, financial
 services, travel and leisure and other industries, in the areas of
 e-business, data warehousing and business intelligence, supply chain
 management, ERP and maintenance and re-engineering of legacy mainframe
 applications. PE Services comprises R&D Services and Software Product
 Engineering Services.  R&D Services enables faster product
 
 realization by leveraging the expertise in the areas of hardware
 design, embedded software, middleware and testing and through
 MindTrees own IP building blocks in the areas of Bluetooth, VOIP,
 IVP6, iSCSI and others in datacom, telecom, wireless, storage,
 industrial automation, avionics, consumer products and computing.
 Software Product Engineering
 
 provides full life cycle product engineering, professional services and
 sustained engineering services. Consequent to the acquisition and
 subsequent merger of MindTree Wireless Private Limited, the Company has
 added a business segment in its operating structure which is referred
 to as Wireless Services.
 
 The Company is head quartered in Bangalore and has offices in India,
 United States of America, United Kingdom, Japan, Singapore, Australia,
 Germany, Switzerland, Sweden, UAE, Netherlands, Canada and France.
 
 2.1 Taxation
 
 The current income tax charge is determined in accordance with the
 relevant tax regulations applicable to the Company.  Deferred tax
 charge or credit are recognised for the future tax consequences
 attributable to timing difference that result between the profit
 offered for income taxes and the profit as per the financial
 statements. Deferred tax in respect of timing difference which
 originate during the tax holiday period but reverse after the tax
 holiday period is recognised in the year in which the timing difference
 originate. For this purpose the timing differences which originate
 first are considered to reverse first. The deferred tax charge or
 credit and the corresponding deferred tax liabilities or assets are
 recognised using the tax rates that have been enacted or substantively
 enacted by the balance sheet date. Deferred tax assets are recognised
 only to the extent there is reasonable certainty that the assets can be
 realised in future; however, when there is a brought forward loss or
 unabsorbed depreciation under taxation laws, deferred tax assets are
 recognised only if there is virtual certainty of realisation of such
 assets. Deferred tax assets are reviewed as at each balance sheet date
 and written down or written up to reflect the amount that is reasonably/ 
 virtually certain to be realised.
 
 Minimum alternate tax (MAT) paid in accordance with the tax laws,
 which gives rise to future economic benefits in the form of tax credit
 against future income tax liability, is recognised as an asset in the
 balance sheet if there is convincing evidence that the Company will pay
 normal tax after the tax holiday period and the resultant assets can be
 measured reliably. MAT credit entitlement can be carried forward and
 utilized for a period of ten years from the period in which such credit
 is availed.
 
 The Company offsets, on a year on year basis, the current tax assets
 and liabilities, where it has a legally enforceable right and where it
 intends to settle such assets and liabilities on a net basis.
 
 2.2 Earnings per share
 
 In determining earnings per share, the Company considers the net profit
 after tax and includes the post-tax effect of any extra-ordinary item.
 The number of equity shares used in computing basic earnings per share
 is the weighted average number of equity shares outstanding during the
 year. The number of equity shares used in computing diluted earnings
 per share comprises weighted average number of equity shares considered
 for deriving basic earnings per share and also weighted average number
 of equity shares which could have been issued on the conversion of all
 dilutive potential equity shares.
 
 2.3 Impairment of assets
 
 The Company assesses at each balance sheet date whether there is any
 indication that an asset (including goodwill) may be impaired. If any
 such indication exists, the Company estimates the recoverable amount of
 the asset. For an asset that does not generate largely independent cash
 inflows, the recoverable amount is determined for the cash-generating
 unit to which the asset belongs. If such recoverable amount of the
 asset or the recoverable amount of the cash generating unit to which
 the asset belongs is less than its carrying amount, the carrying amount
 is reduced to its recoverable amount. The reduction is treated as an
 impairment loss and is recognized in the profit and loss account. If at
 the balance sheet date there is an indication that if a previously
 assessed impairment loss no longer exists, the recoverable amount is
 reassessed and the asset is reflected at the recoverable amount. An
 impairment loss is reversed only to the extent that the carrying amount
 of asset does not exceed the net book value that would have been
 determined; if no impairment loss had been recognized. In respect of
 goodwill, impairment loss will be reversed only when it is caused by
 specific external events and their effects have been reversed by
 subsequent external events.
 
 2.4 Employee stock options
 
 The Company measures the compensation cost relating to employee stock
 options using the intrinsic value method. The compensation cost is
 amortized over the vesting period of the option.
 
 3.  Acquisition and amalgamation of Aztecsoft Limited
 
 The Company had acquired 36,441,595 equity shares of Aztecsoft Limited
 (Aztec), a Company listed on recognized stock exchanges in India in
 the financial year 2008-09 for a consideration of Rs 2,920 million.
 Consequent to the acquisition of these shares, Aztec became a
 subsidiary of the Company. As at March 31, 2009, the Company held 79.9%
 of outstanding equity shares of Aztec.
 
 The Company had filed an application with the Honble High Court of
 Karnataka for the merger of Aztec with the Company effective April 1,
 2009. During the previous year approval of the merger was received from
 the Honble High Court of Karnataka on June 3, 2009.
 
 In terms of the scheme, Aztec was amalgamated with the Company with
 effect from April 1, 2009.  The Company has
 
 accounted for the amalgamation as amalgamation in the nature of
 purchase under AS 14, Accounting for Amalgamations.
 
 Following were the salient features of the scheme:
 
 a) 36,441,595 equity shares held by the Company in Aztec and 2,010,751
 equity shares held by Aztec Software and Technology Services Limited
 Employees Welfare Trust were cancelled and extinguished, from the
 effective date of the scheme. Further 1,300,965 equity shares of the
 Company were issued to the erstwhile minority shareholders of Aztec
 holding 7,155,306 equity shares in Aztec based on the swap ratio of 2
 equity shares in the Company for every 11 equity shares held in Aztec
 considering the market value of Rs.  211.05 per share of the Company as
 at April 1, 2009. The additional consideration thus paid to the
 minority shareholders of erstwhile Aztec amounted to Rs 275 million.
 Accordingly, the total consideration for the transaction amounted to Rs
 3,195 million.
 
 b) All the assets and liabilities of Aztec were recorded in the books
 of the Company at their carrying amounts as on April 1, 2009. The net
 worth of Aztec as at the date of acquisition on initial control
 amounted to Rs 1,835 million.
 
 c) Pursuant to the scheme of amalgamation approved by the Honble High
 Court of Karnataka, the goodwill of Rs 1,360 million resulting from the
 aforesaid amalgamation was adjusted against the securities premium
 account of the Company. If the treatment specified by AS-14 had been
 followed, the goodwill balance of Rs.1,360 million would have been
 required to be amortized as per the Companys accounting policy.
 
 4.  Acquisition and amalgamation of MindTree Wireless Private
 Limited
 
 a) During the previous year, the Company acquired 412,500 equity shares
 of MindTree Wireless Private Limited (MWPL) [formerly Kyocera Wireless
 (India) Private Limited] representing 100% of equity share capital of
 MWPL at a consideration of Rs. 437 million (including a contingent
 consideration of Rs 144 million).  Consequently, MWPL became a 100%
 subsidiary of the Company with effect from October 1, 2009. The Company
 has subsequently reassessed contingent consideration payable based on
 forecast of estimated future revenue and during the year, reduced it by
 Rs 100 million. Consequently, the cost of investment was reduced to Rs
 337 million.
 
 b) The Company filed a scheme of Amalgamation (the Scheme) with the
 Honble High Court of Karnataka for the merger of MWPL with the Company
 effective April 1, 2010 (the Appointed Date). In January 2011, the
 Honble High Court of Karnataka approved the aforesaid Scheme vide its
 Order dated December 10, 2010.
 
 As per the terms of the Scheme, MWPL was amalgamated with the Company
 with effect from April 1, 2010. The Company has accounted for the
 amalgamation as amalgamation in the nature of purchase under AS 14,
 Accounting for Amalgamations.
 
 Following are the salient features of the Scheme:
 
 a) 412,500 equity shares held by the Company in MWPL were cancelled and
 extinguished, from the effective date of the Scheme.
 
 b) All the assets and liabilities of MWPL are recorded in the books of
 the Company at their respective book value as on April 1, 2010.
 
 c) All the profits, income, expenditure, losses accruing to MWPL with
 effect from the Appointed Date were treated as the profits or income or
 expenditure or losses, as the case may be, of the Company.
 
 Consequent to the Order, the Company has effected the
 
 Scheme in its financial statements for the year ended March 31, 2011.
 The cost of investment in excess of net book value of MWPL as on April
 1, 2010 amounted to Rs 21 million and was recorded as goodwill in the
 financial statements.
 
 5.  Impairment of goodwill
 
 The management has assessed whether there is an indication that the
 goodwill may be impaired. Considering the restructuring of business
 model i.e. conversion of wireless products business into a design
 service business and expected decline in the future revenues of MWPL,
 the entire goodwill arising on amalgamation amounting to Rs 21 million
 is considered to be impaired and an impairment loss to that extent has
 been recognized which is presented under depreciation and amortisation.
 
 6.  Purchase of assets
 
 During the year, the Company acquired certain fixed assets, RAPID
 software platform, customer contracts and employment contracts for a
 cash consideration of Rs 72 million from Sevenstrata IT Services
 Private Limited. The acquisition was carried out by entering into an
 Agreement to Sell Assets (Agreement) with Sevenstrata IT Services
 Private Limited. The RAPID software acquired pursuant to the Agreement
 has been accounted for as an intangible as per AS-26 Intangible
 Assets (AS 26) and valued at Rs 67 million as determined by an
 independent external expert. The customer contracts and employment
 contracts have not been assigned any value as they do not meet the
 criteria of an intangible asset as per AS 26. The remaining
 consideration represents the net book value of the assets taken over.
 
 The Management believes the useful life of the aforesaid intangible to
 be 5 years as it represents the period over which the asset is expected
 to contribute directly or indirectly to the future cash flows of the
 Company.
 
 7.  Employee stock options
 
 The Company instituted the Employees Stock Option Plan (ESOP) in
 fiscal 2000, which was approved by the Board of Directors (Board).
 Under the ESOP, the Company currently administers seven stock option
 programs.
 
 Program 1 [ESOP 1999]
 
 Options under this program are exercisable at an exercise price of Rs
 10 per option. All stock options have a four-year vesting term and vest
 at the rate of 15%, 20%, 30% and 35% at the end of 1, 2, 3 and 4 years
 respectively from the date of grant and become fully exercisable. Each
 option is entitled to 1 equity share of Rs 10 each. This program
 extends to employees who have joined on or before September 30, 2001 or
 have been issued employment offer letters on or before August 7, 2001.
 This plan was terminated on September 30, 2001. The contractual life of
 each option is 11 years after the date of grant.
 
 Program 2 [ESOP 2001]
 
 Options under this program have been granted to employees at an
 exercise price of Rs 50 per option. All stock options have a four-year
 vesting term and vest at the rate of 15%, 20%, 30% and
 
 35% at the end of 1, 2, 3 and 4 years respectively from the date of
 grant and become fully exercisable. Each option is entitled to 1 equity
 share of Rs 10 each. This program extends to employees who have joined
 on or after October 1, 2001 or have been issued employment offer
 letters on or after August 8, 2001 or options granted to existing
 employees with grant date on or after October 1, 2001. This plan was
 terminated on April 30, 2006. The contractual life of each option is 11
 years after the date of grant.
 
 Program 3 [ESOP 2006 (a)]
 
 Options under this program have been granted to employees at an
 exercise price of Rs 250 per option. All stock options have a four-year
 vesting term and vest at the rate of 15%, 20%, 30% and 35% at the end
 of 1, 2, 3 and 4 years respectively from the date of grant and become
 fully exercisable. Each option is entitled to 1 equity share of Rs 10
 each. This program extends to employees to whom the options are granted
 on or after May 1, 2006. This plan was terminated on October 25, 2006.
 The contractual life of each option is 5 years after the date of grant.
 
 Program 4 [ESOP 2006 (b)]
 
 Options under this program are granted to employees at an exercise
 price periodically determined by the Compensation Committee. All stock
 options have a four-year vesting term and vest at the rate of 15%, 20%,
 30% and 35% at the end of 1, 2, 3 and 4 years respectively from the
 date of grant and become fully exercisable. Each option is entitled to
 1 equity share of Rs 10 each. This program extends to employees to whom
 the options are granted on or after October 25, 2006. The contractual
 life of each option is 5 years after the date of grant.
 
 Program 5 [ESOP 2008A]
 
 Options under this program are granted to employees of erstwhile
 Aztecsoft Limited as per swap ratio of 2:11 as specified in the merger
 scheme. Each new option is entitled to 1 equity share of Rs 10 each.
 
 Directors Stock Option Plan, 2006 (DSOP 2006)
 
 Options under this program have been granted to independent directors
 at an exercise price periodically determined by the compensation
 committee. All stock options vest equally over three year vesting term
 at the end of 1, 2 and 3 years respectively from the date of the grant
 and become fully exercisable. Each option is entitled to 1 equity share
 of Rs 10 each. The contractual life of each option is 4 years after the
 date of the grant.
 
 Program 7 [(ESOP 2010 (A)]
 
 In-principle approvals for administering the seventh stock option
 program i.e. ESOP 2010 (A) has been received from the BSE and NSE
 during the year for 1,135,000 equity shares of Rs.10/-. No options have
 been granted under the program as at March 31, 2011.
 
 The weighted average exercise price of options exercised during the
 year ended March 31, 2011 is Rs 10 under program 1, Rs 50 under program
 2, Rs 250 under program 3, Rs 357.18 under program 4, Rs 394.65 under
 program 5 and Rs 483.80 under DSOP 2006.
 
 The weighted average exercise price for stock options exercised during
 the year ended March 31, 2011 was Rs 267.84. The options outstanding at
 March 31, 2011 had a weighted average exercise price of Rs 349.15 and a
 weighted average remaining contractual life of 2.12 years.
 
 The Company has recorded compensation cost for all grants using the
 intrinsic value-based method of accounting, in line with prescribed
 SEBI guidelines.
 
 Had compensation been determined under the fair value approach
 described in the Guidance Note on, Accounting for employee share based
 payments issued by ICAI, the Companys net profit and basic and
 diluted earnings per share would have reduced to the proforma amounts
 as indicated:
 
 8.  Provision for taxation
 
 The Company has STPI units at Bangalore, Hyderabad and Pune which are
 registered as a 100 percent Export Oriented Unit, which is entitled to
 a tax holiday under Section 10B and Section 10A of the Income Tax Act,
 1961. However, certain units have completed the 10 year tax holiday
 period and are not eligible for deduction of profits under Section
 10A/10B of the Income Tax Act, 1961. The Company also has units at
 Bangalore and Chennai registered as Special Economic Zone (SEZ) units
 which are entitled to a tax holiday under Section 10AA of the Income
 Tax Act, 1961.
 
 9.  Capital commitments and contingent liabilities
 
 a) Estimated amount of contracts remaining to be executed on capital
 account and not provided for as at March 31, 2011 is Rs 122 million
 (previous year: Rs 244 million).
 
 b) Guarantees given by Companys bankers as at March 31, 2011 are Rs 80
 million (previous year: Rs 122 million).
 
 c) As of the balance sheet date, the Companys net foreign currency
 exposure that is not hedged by a derivative instrument or otherwise is
 Rs 2,454 million (previous year: Rs 1,909 million).
 
 d) The Company has received orders for the financial years 2000- 01,
 2004-05, 2005-06 and 2006-07 wherein demand of Rs 1 million, Rs 6
 million, Rs 51 million and Rs 32 million respectively has been raised
 against the Company on account of certain disallowances, adjustments
 made by the income tax department. A significant portion of this amount
 arises from the manner of adjustment of brought forward losses in
 arriving at the taxable profits of the Company except for financial
 year 2000-01 wherein the AO has held that interest receipts are not
 eligible for deduction under section 10B and that losses from export
 earnings cannot be set off against other income.  Management believes
 that the position taken by it on the matter is tenable and hence, no
 adjustment has been made to the financial statements. The Company has
 filed an appeal against the demands received.
 
 During the current year, the Company has received an assessment order
 for financial year 2007-08 from the DCIT with a demand amounting to Rs
 42 million on account of certain disallowances / adjustments made by
 income tax department.  Management believes that the position taken by
 it on the matter is tenable and hence, no adjustment has been made to
 the financial statements. The Company has not accepted these orders and
 had been advised by its legal counsel/ advisors to prefer appeals
 before the Commissioner of Income Tax (Appeals). The Company has not
 deposited the amount of demand with the department.
 
 e) On January 2, 2010, the Company has received an assessment order for
 financial year 2006-07 (A.Y 2007-08) for the erstwhile subsidiary i.e.
 MindTree Technologies Private Limited (MTPL) from the Assistant
 Commissioner of Income- tax (ACIT) with a demand amounting to Rs.11
 million on account of certain disallowances/ adjustments made by income
 tax department. Management believes that the position taken by it on
 the matter is tenable and hence, no adjustment has been made to the
 financial statements. The Company has filed an appeal against the
 demand received.  The Company has not deposited the amount of demand
 with the department.
 
 During the current year, the Company has received an assessment order
 for financial year 2007-08 pertaining to MTPL from the Deputy
 Commissioner of Income-tax (DCIT) with a demand amounting to Rs. 10
 million on account of certain disallowances / adjustments made by
 income tax department. Management believes that the position taken by
 it on the matter is tenable and hence, no adjustment has been made to
 the financial statements. The Company has not accepted these orders and
 had been advised by its legal counsel/ advisors to prefer appeals
 before the Commissioner of Income Tax (Appeals). The Company has not
 deposited the amount of demand with the department.
 
 f) The Company has received orders under Section 143(3) of the
 Income-tax Act 1961 which pertain to erstwhile Aztecsoft Limited for
 the financial years 2001-02, 2002-03, 2003-04 and 2004-05 wherein
 demand of Rs 91 million, Rs 49 million, Rs 61 million and Rs 28 million
 respectively has been raised against the Company. These demands have
 arisen mainly on account of transfer pricing adjustments made in the
 order. The Company has not accepted these orders and had been advised
 by its legal counsel/ advisors to prefer appeals before the
 Commissioner of Income Tax (Appeals).
 
 The Company had received a favourable order from the Commissioner of
 Income Tax (Appeals) for the year 2001-02 where in the Commissioner of
 Income Tax (Appeals) has accepted the Companys contentions and quashed
 the demand raised. The Income tax department had appealed against the
 
 above mentioned order with ITAT. ITAT, in an earlier year have passed
 an order setting aside both the Order of the Commissioner of Income Tax
 (Appeals) as well as the assessing officer and has remanded the matter
 back to the assessing officer for re-assessment. The Company has
 preferred an appeal with the High Court of Karnataka against the order
 of the ITAT. Further, in the previous year the High Court of Karnataka
 has stayed the operation and all further proceedings pursuant to the
 order passed by the ITAT.  The Company has appealed against the demands
 received for financial year 2002-03, 2003-04 and 2004-05 to the
 Commissioner of Income-tax (Appeals) where the matter is pending
 conclusion. Based on favourable order received by the Company for the
 financial year 2001-02 and an evaluation of the facts and
 circumstances, no provision has been made against the above orders in
 the financial statements.  During the current year, the Company has
 received an assessment order and a draft assessment order pertaining to
 Aztecsoft Limited for the financial years 2005-06 and 2006-07 wherein
 demand of Rs 58 million and 112 million respectively has been raised
 against the Company. The demands have arisen mainly on account of
 transfer pricing adjustment and certain other
 disallowances/adjustments. The Company has appealed against the demands
 received. Based on favourable order received by the Company for the
 financial year 2001-02 and an evaluation of the facts and
 circumstances, no provision has been made against the above orders in
 the financial statements.  g) During the current year, the Company has
 received an assessment order for FY 2006-07 for the erstwhile
 subsidiary MindTree Wireless Private Limited from the Assistant
 Commissioner of Income-tax (ACIT) with a demand amounting to Rs. 39
 million on account of certain other disallowances/ Transfer Pricing
 adjustments made by income tax department. Management believes that the
 position taken by it on the matter is tenable and hence, no adjustment
 has been made to the financial statements for the year ended March 31,
 2011. The Company has filed an appeal with CIT Appeals against the
 demand received. The Company has deposited Rs. 5 Million with the
 department against this demand.
 
 10.  Quantitative details
 
 The Company is engaged in the software development services. Such
 services are not capable of being expressed in any generic unit and
 hence, it is not possible to give the quantitative details required
 under paragraphs 3 and 4C of Part II of the Schedule VI to the
 Companies Act, 1956.
 
 11.  Dues to micro, small and medium enterprises
 
 The Ministry of Micro, Small and Medium Enterprises has issued an
 office memorandum dated August 26, 2008 which recommends that the Micro
 and Small Enterprises should mention in their correspondence with its
 customers the Entrepreneurs Memorandum Number as allocated after filing
 of the Memorandum in accordance with the Micro, Small and Medium
 Enterprises Development Act, 2006 (the Act).  Accordingly, the
 disclosure in respect of the amounts payable to such enterprises as at
 March 31, 2011 has been made in the financial statements based on
 information received and available with the Company. Further in view of
 the Management, the impact of interest, if any, that may be payable in
 accordance with the provisions of the Act is not expected to be
 material. The Company has not received any claim for interest from any
 supplier as at the balance sheet date.
 
 12.  Segmental reporting
 
 The Companys operations predominantly relate to providing IT Services,
 PE Services and Wireless Services.
 
 The Company considers the business segment as the primary segment and
 geographical segment based on the location of customers as the
 secondary segment.
 
 The accounting principles consistently used in the preparation of the
 financial statements are also consistently applied to record income and
 expenditure in individual segments.
 
 Income and direct expenses in relation to segments are categorised
 based on items that are individually identifiable to that segment,
 while the remainder of costs are apportioned on an appropriate basis. 
 Certain expenses are not specifically allocable to individual segments 
 as the underlying services are used interchangeably. The Company 
 therefore believes that it is not practical to provide segment 
 disclosures relating to such expenses and accordingly such expenses 
 are separately disclosed as unallocable and directly charged against 
 total income.
 
 The assets of the Company are used interchangeably between segments,
 and the management believes that it is currently not practical to
 provide segment disclosures relating to total assets and liabilities
 since a meaningful segregation is not possible.
 
 Remuneration paid to key managerial personnel amounts to Rs 44 million
 (previous year: Rs 39 million). Amounts payable to directors in the
 nature of travel and business expenses as at March 31, 2011 amounted to
 Rs Nil (previous year: Rs 1 million). Dividends paid to directors
 amounted to Rs 24 million (previous year: Rs 10 million).
 
 Stock compensation cost has not been considered in the managerial
 remuneration computation.
 
 The above excludes gratuity and compensated absences which cannot be
 separately identified from the composite amount advised by the actuary.
 
 The above excludes gratuity and compensated absences which cannot be
 separately identified from the composite amount advised by the actuary.
 
 13.  Lease Transactions
 
 Lease rental expense under non-cancellable operating lease during the
 year amounted to Rs. 80 million (previous year: Rs 92 million).  Future
 minimum lease payments under non-cancelable operating lease as at March
 31, 2011 is as below:
 
 14.  Gratuity plan
 
 The following table set out the status of the gratuity plan as required
 under AS 15 Employee Benefits.
 
 15.  Derivatives
 
 As at March 31, 2011, the Company has outstanding forward contracts
 amounting to USD 62 million and Euro 4.6 million (previous year: USD 79
 million), option contracts amounting to Euro 0.3 million (previous
 year: USD 7 million), forward strips and leverage option contracts
 amounting to USD 67.5 million (previous year: USD 100 million). These
 derivative instruments have been entered to hedge highly probable
 forecast sales.
 
 In accordance with the provisions of AS 30, derivative instruments
 which qualify for cash flow hedge accounting have been fair valued at
 balance sheet date and the resultant exchange difference of Rs 81
 million as at March 31, 2011 (previous year Rs. 115 million) has been
 credited to hedge reserve. Other derivative instruments that do not
 qualify for hedge accounting have been fair valued at balance sheet
 date and resultant exchange gain of Rs 136 million for the year ended
 March 31, 2011 (previous year: gain of Rs 981 million) has been
 recognized in the profit and loss account.
 
 16.  During the year, the Company has dissolved its two subsidiaries
 viz., Aztecsoft Disha Inc and Aztec Software Inc. Pursuant to the
 dissolution, the surplus in excess of the book value of investment in
 the subsidiaries amounting to Rs 221 million has been recognised as
 other income in the profit and loss account.
 
 17.  During the year, MindTree Benefit Trust and Aztec Software and
 Technology Services Limited Employees Welfare Trust were dissolved as
 per the resolution passed by the trustees. Consequently, the funds
 available with these trusts amounting to Rs 85 million were received by
 the Company. Since these funds were primarily in the nature of capital
 surplus, the Company has credited the above amount to capital reserve.
 
 18.  Pursuant to the merger of MWPL with the Company w.e.f, April 1,
 2010, the current year figures are not comparable with the
 corresponding figures of the previous year.
 
 19.  Corresponding figures for previous year presented have been
 regrouped, where necessary, to conform to the current years
 classification.