1.  The previous year''s figures have been recast/restated, wherever
 necessary, to confirm to current year''s classification.
 
 2.  Contingent Liabilities
 
                                                    (Rs. In lacs)
 
                                  31st March, 2011   31st March, 2010
  
 Contingent Liability (Outstanding 
 guarantees given by banks                 7221.57             61.69
 in favor of various government 
 authorities and others, corporate 
 guarantees) 7    Dues to Micro, 
 Small and Medium Enterprises
 
 The Company has not received any memorandum (as required to be filed by
 the Suppliers with the notified authorities under the Micro, Small and
 Medium Enterprises Development Act, 2006) claiming their status as on
 31st March, 2011 as micro, small or medium Enterprises. Consequently
 the amount paid/payable to these parties during the year is
 unascertainable.
 
 3.  Balances standing to the account of the debtors, creditors,
 advances, receivables and deposits are subject to confirmations.
 
 4. Related Party Disclosures
 
 (a) List of Parties where control exists, irrespective of transactions
 
 i) Subsidiary Companies
 
 1.  Omnitech Technologies Inc., USA 
 
 2.  Omnitech Services Pte. Ltd., Singapore
 
 3.  Europe Omnitech Technology Services B.V., Netherlands 
 
 4.  Omnitech (Singapore) Holding Pte Ltd
 
 ii) Key Management Personnel
 
 1.  Mr. Atul Hemani – Managing Director & CEO 
 
 2.  Mr. Avinash Pitale – Jt. Managing Director
 
 3.  Mr. Devarshi Buch – Executive Director
 
 iii) Relatives of Key Management Personnel
 
 1.  Mrs. Amisha A. Hemani
 
 2.  Mrs. Vanita Hemani
 
 3.  Mr. Nirav Hemani
 
 4.  Ms. Vidhi Hemani
 
 5.  Mr. Bharat Hemani
 
 6.  Mr. Chandrakant Pitale
 
 7.  Mr. Amit Buch
 
 8.  Ms. Juhi Buch
 
 9.  Mr. Maganlal Hemani
 
 10. Ms. Sheetal Pitale
 
 11. Mr. Nitish Pitale
 
 12. Mrs. Shubhangi Pitale
 
 13. Mrs. Beejal D. Buch
 
 14. Mr. Dushyant Buch
 
 15. Mrs. Jayshree Buch
 
 iv) Enterprises owned or significantly influenced by Key Management
 Personnel or their relatives
 
 1.  Omnitech Technologies Limited, India 
 
 2.  Wintel Computers Private Limited
 
 3.  Atul Hemani HUF 
 
 4.  Avinash Pitale HUF
 
 5.  Omnitech Employees'' Welfare Trust
 
 v) Step-down subsidiaries
 
 1.  Omnitech Services Limited, Hong Kong 
 
 2.  Avensus Netherland B.V, Netherlands
 
 5.  Equity Share Warrants
 
 (a) Out of 862000 convertible warrants allotted by the Company during
 the F.Y. 2009-10, 2000 warrants were converted into equity shares by
 the Company and consequentially 75% of the total price due on the
 conversion was duly paid to the Company by the warrant holder. Against
 the said conversion of warrants, 2000 equity shares were allotted on
 9th September, 2010. As on 31st March, 2011, listing application for
 2000 Equity shares is pending with Stock Exchanges for approval.
 
 The money received on account of issue/conversion of warrants has been
 fully utilized by the Company towards expansion of technology centres
 as on 31st March, 2011.
 
 (b) At the Annual General Meeting held on 29th September, 2010, the
 Shareholders of the Company had approved the issuance of 2,23,725
 Convertible warrants on preferential basis in accordance with SEBI
 Guidelines to certain Promoters and non- promoters. However, as on 31st
 March, 2011, the Company is awaiting in – principal approval from the
 Stock Exchanges for the said warrants.
 
 6.  Derivative Instruments
 
 The Company uses Forward Contracts to hedge against its Foreign
 Exchange Exposure. The Company does not enter into any derivative
 instruments for Trading or Speculative purposes. As on 31st March,
 2011, there are no outstanding Forward Contracts.
 
 7.  Segmental Reporting
 
 The Company is mainly engaged in the business of Information Technology
 and Information Technology enabled services.  Considering the nature of
 business and financial reporting of the Company, the Company has only
 one segment viz. Information Technology.
 
 The Company operates in Local and Export geographically of which export
 sales have amounted to R6658.94 lacs. But due to nature of business,
 the assets/liabilities and expenses thereof cannot be bifurcated
 separately.
 
 8.  Accounting for Employees Stock Option
 
 Employee Stock Options are evaluated and accounted on intrinsic value
 method as per the accounting treatment prescribed by Guidance Note on
 ''Accounting for Employee Share-based payments'' issued by ICAI read with
 SEBI (Employee Stock Option Scheme & Employee Stock Purchase Scheme)
 Guidelines 1999 issued by SEBI. The excess of market value, if any, of
 the stock options as on the date of grant over the exercise price of
 the options is recognised as deferred employee compensation and is
 charged to the profit and loss account on vesting basis over the
 vesting period of the options. The un-amortized portion of the deferred
 employee compensation is reduced from Employee Stock Option
 Outstanding, which is shown under Reserves and Surplus.
 
 a) The Compensation Committee of the Company granted 19,714 options
 during the year under Omnitech ESOS 2009. Each option is convertible
 into One equity share of R10/- each at price of R140/- per share. The
 options granted would vest over a vesting period of two and half to
 three years from the date of grant. The market price of share at the
 time of grant was R252.05 per share.
 
 b) The employee compensation cost on account of this grant applicable
 for the year is R5,07,788 as a result of discounted rate at which
 options have been granted.