(a) Terms/rights attached to equity shares
 
 The company has only one class of equity shares having a face value of
 Rs.10 per share. Each holder of equity shares is entitled to one vote per
 share. The company declares and pays dividends in Indian rupees.
 
 (b) During the year, Rs. 92 lacs was taken as loans against refinance of
 existing motor vehicles owned by the company from Kotak Mahindra Prime
 Ltd. This loan carries an interest of 19.467% p.a., and is payable in
 36 installments, alongwith interest from the date of the loan. The
 period of maturity w.r.t. balance sheet date is 2 years and 4 months
 with EMI of Rs.4.49 lacs for 4 months, Rs. 3.31 lacs for 12 months and Rs.
 1.82 lacs for 12 months respectively.
 
 (c) Fixed deposits from related parties carry interest @11% to 11.75%
 p.a.(previous year 10.50% to 11.25% p.a.) and are repayble after 3
 years from the respective dates of deposit.
 
 (d) Fixed deposits from shareholders and others carry interest ranging
 from 11% to 11.75% p.a.(previous year 10.50% to 11.25% p.a.) and are
 repayble after 2 years and 3 years from the respective dates of
 deposit.
 
 (e) During the year, unsecured loan of Rs.60 lacs was taken from Kotak
 Mahindra Bank, which carries interest @ 9.50% p.a. and is repayable in
 24 installments. The period of maturity w.r.t. balance sheet date is 1
 year and 5 months with EMI of Rs.4.35 lacs for 1 month, Rs. 2.94 lacs for 8
 months and Rs.1.50 lacs for 8 months.
 
 (a) Working capital loan from banks is secured by hypothecation of
 current assets and all movables, both present and future and with a
 collateral charge on immovable and movable properties. The working
 capital from banks carries interest of @15.75% and 16.15% p.a.
 
 (b) Inter-corporate deposits are having a tenure of 90 days to 120 days
 and carry interest @13.50% to 17.75% p.a.
 
 (c) Fixed deposits from others and shareholders carry interest ranging
 from 10% to 10.75% p.a.(previous year 10% to 10.25% p.a.).
 
 (a) Margin money deposits with maturity of less than I upto three
 months is against letter of credit and bank guarantees.
 
 (b) Margin money deposits with maturity more than three months and upto
 12 months is against bank guarantees.
 
 (c) Deposits with maturity of more than three months and upto 12 months
 of Rs. 54 lacs (Previous Year Rs. 54 lacs) is kept as collateral against
 cash credit limits with banks.
 
 1 Leases:
 
 Disclosure as required by Accounting Standard 19, Leases, issued by
 the Institute of Chartered Accountants of India, are given below:
 
 a Where the company is a lessee:
 
 The company has taken various office and godown premises under leave
 and licence agreements. These are not non cancellable and range between
 11 months and 5 years under leave and licence and are renewable by
 mutual concent on mutually agreeable terms. The company has given
 refundable interest free security deposits under certain agreements.
 Amounts paid during the year under such agreements are Rs. 111.19 lacs
 (previous year Rs. 88.87 lacs) and are recognized in the statement of
 profit and loss under Rent Note no.28.
 
 b Where company is a lessor:
 
 The company has given its own office and residential premises under
 leave and licence agreements. These are not non cancellable and range
 between 11 months and 5 years under leave and licence and are renewable
 by mutual concent on mutually agreeable terms. The company has taken
 refundable interest free security deposits under certain agreements.
 Amounts received during the year under such agreements are Rs. 47.08
 lacs(previous year Rs. 45.29 lacs) and are recognized in the statement of
 profit and loss under ''Rent Income'' in Note no. 22.
 
 2 Contingent liabilities
 
 a Disputed sales tax demand of Rs. 58.18 lacs (previous year Rs. 34.15
 lacs). The management has been adviced that there will be no liability
 arising on this account.
 
 b Estimated tax liability Nil (previous year Nil).
 
 c Counter indemnities given by the company in respect of guarantees
 issued by the bank Rs.91.96 lacs (previous year Rs.157.29lacs).
 
 d The company has given a corporate guarantee to a bank of Rs.350 lacs
 and Rs.100 lacs for sercured loan availed by its subsidiary, Shurjo
 Energy Private Limited and PAE Renewables Private Limited respectively
 (previous year Rs. 350 lacs for secured loan availed by its subsidiary
 Shurjo Energy Private Limited).
 
 3 Investment in subsidiaries
 
 a During the year, the company subscribed to 2,27,85,178 equity shares
 (previous year 29,71,474) for a total consideration of Rs. 227.85 lacs
 (previous year Rs. 51.00 lacs) in Shurjo Energy Private Limited thereby
 increasing its stake to 85% in the company w.e.f. October 1, 2011. The
 company is engaged in manufacturing of solar photovoltaic panels using
 CIGS technology.
 
 b During the year, the company subscribed to 23,00,000 equity shares of
 Rs.10/- each at par on June 6, 2011 and 23,75,000 equity shares of Rs.10/-
 each at premium of Rs.10/- each on September 13,2011 (previous year
 1,00,000) ofRs. 10/- each for a total consideration of Rs.467.75 lacs
 (previous yearRs. 10 lacs) in PAE Renewables Private Limited, PAE
 Renewables Private Limited is a 100% subsidiary of PAE Limited and is
 engaged in the business to design, install, sell and service renewable
 energy solutions of small and medium sizes in India.
 
 c During the year, the company subscribed to 3,52,000 equity shares
 (previous year nil) of Rs.10/- each for a total consideration of Rs.35.20
 lacs (previous year nil) in PAE Infrastructure Pvt. Ltd. PAE
 Infrastructure Pvt. Ltd. is a 100% subsidiary of PAE Limited.
 
 d The company has reviewed the value of long term investment made in
 its subsidiary, Shurjo Energy Pvt. Ltd. Inspite of the accumulated
 losses in the said subsidiary, the management is of the opinion that
 there is no permanent diminution in the value of investment, after
 taking into consideration the change in the business policy to be
 pursued in the ensuing years.
 
 4 Dues to micro and small enterprises
 
 There are no amounts overdue and remaining unpaid for 30 days on
 account of principal and/or over due interest at the close of the year
 to micro, small and medium enterprises, as defined under''Micro Small
 and Medium Enterprises Development Act, 2006. This information regarding
 Micro, Small and Medium Enterprises has been determined to the extent
 such parties have been identified on the basis of information available
 with the company. This has been relied upon by the auditors.
 
 5 Derivative instruments and unhedged foreign currency exposure
 
 a In accordance with Accounting Standard 11, the exchange loss debited
 to statement of profit and loss is Rs.19.92(previous year Rs.15.60 lacs).
 Premium in respect of forward contracts to be debited to subsequent
 years''s statement of profit and loss is Nil (previous year Rs. 18.49
 lacs).
 
 b Disclosure in relation to derivative instruments for hedging foreign
 currency risk for secured loans:
 
 6 Others:
 
 a In the year 2008-09 the company had filed a petition in the High
 Court of Mumbai for interest charged under section 234B of the Income
 Tax Act, 1961 against order passed by the settlement commission for A.Y.
 1993-94, 1994-95 and 1996-97.  Pending High Court order, no adjustments
 have been made in respect of tax provision against these years.
 
 b Till the year ended March 31, 2011, the company was using pre-revised
 Schedule VI to the Companies Act 1956, for the preparation and
 presentation of its financial statements. During the year ended March
 31, 2012, the revised Schedule VI notified under the Companies Act, 1956
 has become applicable to the company. The company has reclassified
 previous year figures to conform to this year''s classification. The
 adoption of revised Schedule VI does not impact recognition and
 measurement principles followed for preparation of financial
 statements, particularly presentation of balance sheet.