1 Secured Loans:
 
 a) Term Loans:
 
 (i) Term Loan of Rs. 50.74 Lakhs ( Prev Year Rs. 227.24 Lakhs ) from
 Saraswat Co-op Bank Ltd. is secured by Premises at 4th Floor , Aman
 Chambers, Prabhadevi, Mumbai 400025.
 
 Additional Term Loan of Rs. 387.89 Lakhs ( Prev Year Rs. NIL ) drawn by
 creating additional charge on mortgage of Office Premises at 4th Floor
 , Aman Chambers, Prabhadevi, Mumbai 400025.
 
 (ii) Term Loan of Rs. NIL ( Prev Year Rs.41.40 Lakhs ) from Axis Bank
 Ltd. is secured by hypothecation of a vehicle .
 
 (iii) Term Loan of Rs. NIL ( Prev Year Rs. 1.38 Lakhs ) from Saraswat
 Co-op Bank Ltd. is secured by hypothecation of a vehicle.
 
 (iv) Term Loan of Rs. NIL ( Prev Year Rs. 566.00 Lakhs ) from Union
 Bank India is secured against Mahim office premises and Land at Jaipur.
 
 (v) Term Loan of Rs.120.86 Lakhs ( Prev Year 137.05 Lakhs ) from
 Indiabulls Financial Services Ltd. is secured against shop premises at
 Nav Bhavana Premises CHS Ltd. at Prabhadevi, Mumbai
 
 b) Cash Credit:- 
 
 (i) Cash Credit from Saraswat Co-Op Bank Ltd is secured by
 hypothecation of book debts and mortgage of Office Premises at 4th
 floor, Aman Chambers, Prabhadevi, Mumbai-400 025 and property at Panvel
 Resorts.
 
 2 None of the suppliers had informed the Company that they are micro
 and small enterprises under the Micro, Small and Medium Enterprises
 Development Act. Hence information regarding dues to micro and small
 enterprises could not be furnished.
 
 3 Since the company has not appointed CFO, the Declaration as required
 under Clause 49 of the Listing Agreement has been signed by the
 Managing Director of the Company.
 
 4 Retirement benefit Plan:
 
 The present value of the defined benefit obligation and current service
 cost were measured using the Projected Unit Credit Method, with
 actuarial valuations being carried out at each balance sheet date.
 
 5 Contingent Liabilities not provided for :
 
                                          2010-11        2009-10
 
 I Estimated amount of capital 
   commitments not provided for:  Rs.1816.00 Lacs  Rs.30.44 Lacs
 
 II Contingent Liabilities                Rs. Nil         Rs.Nil
    not provided for: 
 
 III Guarantees given on behalf
     of wholly owned subsidiary        61,614,000     60,507,000
 
 6 Remuneration to Directors of Rs.7,555,307/- includes Rs.2,605,559/-
 being commission payable to Managing Director
 
 7 Computation of Net Profit in accordance with Section 349 and 350 of
 the Companies Act, 1956
 
 8 Disclosures of related parties for the year ended 31-03-2011
 
 1 Enterprises owned by directors / major shareholders of the Company
 
 a) Subsidiaries:-
 
 Georgian Motel Corp. USA 
 Indo Pacific Hotels Ltd. 
 Panoramic Ace Properties Inc. USA 
 Panoramic Holidays Ltd.  
 Panoramic Tours and Travels Ltd.  
 Sai Living Hudson Inc. USA 
 Sai Motels Limited-New Zealand
 Sai Properties Inc. USA 
 Sri Vatsa Hotels Ltd.  
 Travel Universe Inc. USA
 
 b) Enterprises Controlled by directors/relatives:-
 
 Graciano Cottages,Grand View Hotel Restaurant & Bar, 
 Hotel Pinnacle Ltd,Athiti Resorts Ltd,Golden Valley Hotels Ltd., 
 Pan Herbbo Ltd., Herbo Effect (India) Ltd, 
 Pan Product Impex P Ltd,Panoramic Land Developers P Ltd, 
 Panoramic Investment Advisors P Ltd., Pan Ad,
 Panoramic Hotels Ltd., Pancard Clubs Ltd., Panoramic 
 Structures P Ltd, Sai Nirmaan Properties Ltd., Seaview 
 Retreats Ltd, Panoramic Tour & Travels Ltd., 
 Smooth Financials P Ltd, 
 Panoramic Resorts (India) Ltd.,
 Panoramic Greeneries P Ltd, 
 Panoramic Agriculture & Farms P Ltd.,
 Panoramic Agricultural Services P Ltd,
 Panoramic Husbandries P Ltd,
 Panoramic Unnathi P Ltd.
 
 2 Key Management Personnel
 
 a) Viidyaa Moravekar    Managing Director
 
 b) Arun Tari            Whole - Time Director
 
 9 Corresponding figures for previous years presented have been
 regrouped, where necessary, to confirm to this year''s