1.  CONTINGENT LIABILITIES :
 
 i) Guarantees given Rs. 317,10,00,000/-(2009: Rs. 3,121,000,000/-).
 
 ii) Bank Guarantees given Rs. 12,40,000/-(2009 : Rs. Nil).
 
 iii) Taxation matters in respect of which appeal is pending - Rs.
      1,53,33,080/- (2009 : Nil).
 
 2.  SECURED LOANS:
 
 (a) Cash Credit Facilities of Rs. 1,14,16,861 are secured by first and
 exclusive charge hypothecation by way of first charge on stock and
 receivables excluding goods acquired under LC basis, collateral
 security of shares of Pantaloon Retail (India) Ltd and guarantee of two
 directors of the company.
 
 (b) Term Loan of Rs. 83,34,00,927 is secured by First and exclusive
 charge of land and building, plant and machinery, and furniture and
 fixtures of the specified assets and personal guarantees of the
 directors.
 
 (c) Hire Purchase is secured by hypothecation of specific assets.
 
 (d) Following loan installments are due during next 12 months.  Terns
 Loans - Rs. 1,25,00,000 (2009 : Rs. 2,34,99,62,480) Hire Purchase Loans
 - Rs. 1,33,053/- (2009 : Rs. 2,87,750)
 
 3.  Some of the balances in Sundry Debtors, Sundry Creditors, Advances
 and Deposits are subject to confirmation, reconciliations and
 adjustments if any, which in the opinion of management will not be
 significant and would be carried out when settled.
 
 4.  In the opinion of the Board, the current assets, loans and advances
 are approximately of the value stated, if realised in the ordinary
 course of the business. The provision for all known liabilities are
 adequate and not in excess of the amount considered reasonably
 necessary.
 
 5.  The Company has not received any intimation from Suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosures, if any, relating to
 amounts unpaid as at the year end together with interest paid / payable
 as required under the said Act have not been given.
 
 6.  There are no amounts due and outstanding to be credited to the
 Investor Education and Protection Fund.
 
 7.  Segment Reporting :
 
 In accordance with the Notified AS-17 under the companies (Accounting
 Standards) Rules 2006 on Segment Reporting under Companies Accounting
 Standard Rule, 2006, the company has been identified two reportable
 businesses segment i.e. Fabric Business and Share Business, which are
 regularly evaluated by the management, in deciding allocation of
 Reserves and assessment of performance.
 
 8.  Licensed Capacity:
 
 The Company is not required to obtain any license under Industries
 (Development & Regulation) Act, 1951, therefore legal licensed capacity
 is not applicable.
 
 9.  Investments Converted to Stock in Trade :
 
 During the year on April 1, 2009 investment in 11,786,922 equity shares
 of Rs. 10/- each fully paid up in Indus League Clothing Limited was
 converted to Stock in Trade at weighted average cost of Rs.  20.18 per
 share.
 
 10.  During the year Stripes Apparels Limited merged into Kamadgiri
 Synthetics Limited and the Company received 1,409,884 equity shares in
 Kamadgiri Synthetics Limited in exchange of its shareholding in Stripes
 Apparels Limited.
 
 11.  RELATED PARTY DISCLOSURE :
 
 Disclosures as required by the Accounting Standard 18 Related Party
 Disclosure is given below : a) List of Related Parties & Key
 Management Personnel and Relatives
 
 
     Associate Companies/Firm            Key Management Personnel
 
 
 1. Future Ventures Limited      1. Mr. Vijay Biyani - Managing Director
 
 2. Kamadgiri Synthetics Limited             (up to September 25, 2009)
 
                                 2. Mr. Anil Biyani - Whole-time Director
 
                                 3. Mr. Sunil Biyani- Whole-time Director 
 
    Joint Ventures
 
 1. Sain Advisory Services Private Limited
 
 2. Shendra Advisory Services Private Limited
 
 
 Subsidiary Company
 
 1.  Indus League Clothing Ltd. (subsidiary upto January 29, 2010)
 
 2.  Weavette Texstyles Limited
 
 3.  Anchor Investment & Trading Private Limited
 
 
 
 b) List of enterprise over which Key Management Person is able to
 exercise significant influence
 
 1.  Manz Retail Private Limited
 
 2.  Vishnu Mall Management Private Limited
 
 3.  Dhanshree Fashions Private Limited
 
 4.  Utsav Mall Management Co. Private Limited
 
 
 12.  Disclosure pursuant to Accounting Standard 15 - Employee Benefits
 
 Defined Contribution Plan
 
 Amount recognised as an expense and included in Schedule 16 under the
 head Contribution to Provident and Other Funds of Profit & Loss
 Account Rs. 2,57,958/- (Rs. 7,24,676/-).
 
 Defined Benefit Plan
 
 The following tables summaries the components of net benefit expenses
 in the profit and loss account and amounts recognized in the balance
 sheet for the respective plans.
 
 13.  Store and Spares represents Obsolete Stocks Scrapped and written
 off.
 
 14.  Additional information pursuant to the provisions of Paragraphs 3,
 4c & 4d of part II of Schedule VI to the Companies Act, 1956 to the
 extent nil or not applicable has not been given.
 
 15.  Previous years figures have been regrouped, re-classified, and
 recasted and rearranged wherever necessary.