(i) Terms/Rights Attached to Equity Shares
 
 The company has equity shares having a par value of Rs. 2/- per share
 at the Balance Sheet Date. Equity Shares have been further classified
 in to Equity Shares carrying normal voting and dividend rights
 (Ordinary Shares) and Equity Shares carrying differential voting and
 dividend rights {Class B (Series-1) Shares}.
 
 Each holder of Ordinary Shares, is entitled to one vote per member in
 case of voting by show of hands and one vote per Ordinary Shares held
 in case of voting by poll/ballot. Each holder of Equity Share is also
 entitled to normal dividend (including interim dividend, if any) as may
 declared by the company.
 
 Each holder of Class B (Series -1) Shares, is entitled to one vote per
 member in case of voting by show of hands and three vote per four Class
 B (Series-1) shares held in case of voting by poll/ballot. Each holder
 of Class B (Series -1) Share is also entitled to 2% additional dividend
 in addition to normal dividend (including interim dividend, if any) as
 may declared by the company. Further, the Company may declare dividend
 only for Class B (Series-1) Share upto 2% without declaring any
 dividend for Equity Shares.
 
 All other rights would be same for both classes of Equity Shares.
 
 The company declares and pays dividends in Indian Rupees. The dividend
 proposed by the Board of Directors is subject to approval of the
 shareholders in the Annual General Meeting.
 
 In the event of liquidation of company, the holders of equity shares
 will be entitled to receive remaining assets of the company, after
 distribution of all preferential amounts. The distributions will be in
 proportion to the number of equity shares held by shareholder.
 
 (iii) Term of Conversion/Redemption of Preference Shares
 
 63,47,635 0.01% Compulsorily Convertible Preference Shares (CCPS) of
 face value of Rs. 100/-each fully paid up aggregating to Rs. 63.48
 Crores were issued under the scheme of arrangement during the year
 ended June 30, 2010. These shares have been converted into equity
 shares of Rs. 2/- each at a premium of Rs. 98/- per share on July 31,
 2011.
 
 (iv) The Company does not have any Holding Company.
 
 (vi) Pursuant to the provisions of Section 206A of the Companies Act,
 1956, the issue of 11,400 equity shares is kept in abeyance
 
 (vii) Shares allotted as fully paid up without payment received in cash
 (during 5 years preceding December 31, 2012)
 
 a.  Allotted 1,59,29,152 Equity Shares of Class B (Series - 1) as fully
 paid-up bonus shares by utilisation of Securities Premium reserve.
 
 b.  Allotted 59,28,818 Equity Shares of Rs. 2/- each and 63,47,635,
 0.01% CCPS of Rs. 100/- each as fully paid up pursuant to Scheme of
 Arrangement.
 
 The estimate of rate of escalation in salary considered in actuarial
 valuation takes into account inflation, seniority, promotion and other
 relevant factors including supply and demand in the employment market.
 The above information is certified by the actuary.
 
 (1) In the absence of detailed information regarding Plan Assets which
 is funded with Future Generally Life Insurance Company, Birla Sun Life
 Insurance Company Limited and India First Life Insurance Company
 Limited, the composition of each major category of plan assets, the
 percentage or amount for each category to the fair value of plan assets
 has not been disclosed.
 
 (2) The contribution expected to be made by the Company during the
 financial year 2013-14 is Rs. 2.68 Crores (2011-12: Rs. 2.43 Crores)
 
 1.  LEASES
 
 The Company has entered into operating lease arrangements for fixed
 assets and premises. The future minimum lease rental obligation under
 non-cancellable operating leases in respect of these assets is Rs.
 1025.22 Crores (2011:Rs. 1089.21 Crores).The Lease Rent payable not
 later than one year is Rs. 439.26 Crores (2011:Rs. 382.64 Crores),
 payable later than one year but not later than five year is Rs. 528.88
 Crores (2011: Rs. 617.59 Crores) and payable later than five years is
 Rs. 57.08 Crores (2011: Rs. 88.98 Crores)
 
 2.  RELATED PARTY DISCLOSURES
 
 Disclosure as required by Accounting Standard 18 Related Party
 Disclosures are given below:
 
 A.  List of related parties
 
 1.  Subsidiary Companies:
 
 i.  Futurebazaar India Limited.
 
 ii.  Future Knowledge Services Limited
 
 iii. Future Media (India) Limited
 
 iv.  Future Agrovet Limited
 
 v.  Future Supply Chain Solutions Limited.
 
 vi.  FSC Brand Distribution Services Limited
 
 vii. Future Value Retail Limited
 
 viii.  Future Learning and Development Limited
 
 ix.  Home Solutions Retail (India) Limited
 
 x.  Future Freshfoods Limited
 
 xi.  Winner Sports Limited
 
 xii. Future E-Commerce Infrastructure Limited
 
 xiii.  Future Lifestyle Fashions Limited (Formerly known as Future
 Value Fashion Retail Limited) (w.e.f. May 31, 2012)
 
 xiv. Splendor Fitness Private Limited (till June 29, 2012)
 
 xv.  Capital First Limited (Formerly known as Future Capital Holdings
 Limited (till September 27, 2012))
 
 xvi. Future Capital Financial Services Limited (till September 27,
 2012)
 
 xvii.  Future Finance Limited (till September 27, 2012)
 
 xviii.  Kshitij Investment Advisory Company Limited (till September 27,
 2012)
 
 xix. Myra Mall Management Company Limited (till July 09, 2012)
 
 xx.  FCH Securities & Advisors Limited (till June 02, 2012)
 
 xxi. Future Capital Commodities Limited (till September 27, 2012)
 
 xxii.  Kshitij Property Solutions Private Limited (till November 30,
 2011)
 
 xxiii.  Future Hospitality Management Limited (till November 30, 2011)
 
 xxiv.  Future Capital Investment Advisors Limited (till June 02, 2012)
 
 xxv. Future Capital Home Finance Private Limited (till September 27,
 2012)
 
 xxvi.  Anchor Investment & Trading Private Limited (till September 27,
 2012)
 
 xxvii.  Nuzone Ecommerce Infrastructure Limited
 
 xxviii.  Future Home Retail Limited (Formerly known as Nuzone
 Electronics Limited)
 
 xxix.  Future Capital Securities Limited (till September 27, 2012)
 
 2.  Associates
 
 i.  Galaxy Entertainment Corporation Limited
 
 3.  Joint Ventures
 
 i.  Apollo Design Apparel Parks Limited
 
 ii.  Future Generali India Insurance Company Limited
 
 iii. Future Generali India Life Insurance Company Limited
 
 iv.  Goldmohur Design and Apparel Park Limited
 
 v.  Integrated Food Park Private Limited
 
 vi.  Sprint Advisory Services Private Limited
 
 vii. Shendra Advisory Services Private Limited.
 
 viii.  Staples Future Office Products Private Limited
 
 4.  Enterprises over which Key Management Personnel are able to
 exercises significant influence
 
 i.  Asian Retail Lighting Limited
 
 ii.  ESES Commercial Private Limited
 
 iii. Fashion Global Retail Limited
 
 iv.  Future Corporate Resources Limited
 
 v.  Future Human Development Limited
 
 vi.  Future Ideas Company Limited
 
 vii. Future Outdoor Media Solutions Limited
 
 viii.  Future Ventures India Limited
 
 ix.  S.J Retail Private Limited
 
 x.  Bansi Mall Management Company Private Limited
 
 5.  Key Management Personnel
 
 i.  Mr. Kishore Biyani
 
 ii.  Mr. Rakesh Biyani
 
 iii. Mr. Vijay Biyani
 
 iv.  Mr. Kailash Bhatia (till February 09, 2012)
 
 6.  Relatives of Key Management Personnel
 
 i.  Mr. Gopikishan Biyani
 
 ii.  Ms. Ashni Biyani
 
 iii. Ms. Godavari devi Biyani
 
 iv.  Ms. Sampat Biyani
 
 v.  Ms. Sangita Biyani
 
 vi.  Ms. Santosh Biyani
 
 C.  DISCLOSURE OF TRANSACTIONS BETWEEN THE COMPANY AND RELATED PARTIES
 
 i.  Sale of Goods and Services includes Future Value Retail Limited
 Rs.36.48 Crores (2011: Rs. 107.25Crores), Future Media (India) Limited
 Rs. 14.89 Crores (2011: Rs. 16.94 Crores), Future E-Commerce
 Infrastructure Limited Rs. 12.46 Crores (2011: Rs. 0.15 Crores), Future
 Supply Chain Solutions Limited Rs. 7.56 Crores (2011: Rs. 15.41
 Crores), S.J Retail Private Limited Rs. 9.86 Crores (2011: Rs. Nil),
 Galaxy Entertainment Corporation Limited Rs. 1.33 Crores (2011: Rs.
 0.54 Crores) Future Generali India Insurance Company Limited Rs. 0.49
 Crores (2011: Rs. 0.48 Crores) Future Generali India Life Insurance
 Company Limited Rs. 1.45 Crores (2011: Rs. 1.56 Crores) Staples Future
 Office Products Private Limited Rs. 0.70 Crores (2011: Rs. 0.97
 Crores), Future Ventures India Limited Rs. 17.95 Crores (2011: Rs.
 Nil).
 
 ii.  Purchases and other Services includes Future Supply Chain
 Solutions Limited Rs. 181.57 Crores (2011: Rs. 93.11 Crores), Staples
 Future Office Products Private Limited Rs. 139.07 Crores (2011: Rs.
 80.97Crores),Future Value Retail Limited Rs. 39.99 Crores (2011: Rs.
 135.00 Crores), Apollo Design Apparel Parks Limited Rs. 33.12 Crores
 (2011:Rs. 111.13 Crores), Goldmohur Design and Apparel Park Limited Rs.
 30.52 Crores (2011:Rs. 13.99 Crores) Future Corporate Resources Limited
 Rs. 70.65 (2011: Rs. 61.62 Crores), Fashion Global Retail Limited Rs.
 43.60 Crores (2011: Rs. 19.47 Crores)
 
 iii. Sale of Fixed Assets includes Future Value Retail Limited Rs.
 11.47 Crores (2011: Rs. 2.29 Crores), Future Supply Chain Solutions
 Limited Rs. 9.22 Crores (2011:Rs. Nil), Future Corporate Resources
 Limited Rs. 0.01 Crores (2011: Rs. Nil), S.J Retail Private Limited Rs.
 0.08 Crores (2011: Rs. Nil)
 
 iv.  Purchase of Fixed Assets includes Future Value Retail Limited Rs.
 45.95 Crores (2011: Rs. 3.06 Crores), Future Supply Chain Solutions
 Limited Rs. 8.42 Crores (2011: Rs. Nil), Future Human Development
 Limited Rs. 5.80 Crores (2011: Rs. 2.50 Crores), Asian Retail Lighting
 Limited Rs. 15.86 Crores (2011: Rs. 15.84 Crores)
 
 v.  Managerial Remuneration includes Mr. Kishore Biyani Rs. 5.73 Crores
 (2011: Rs. 3.82 Crores),Mr. Rakesh Biyani Rs. 5.31 Crores (2011: Rs.
 3.47 Crores), Mr. Vijay Biyani Rs. 3.14 Crores (2011: Rs. 2.09 Crores),
 Mr.Kailash Bhatia Rs. 1.82 Crores (2011: Rs. 3.03 Crores)
 
 vi.  Sale of Investments includes Future Value Retail Limited Rs.
 323.36 Crores (2011:Rs. Nil)
 
 vii. Fresh Investments made includes Future Media India Limited Rs.
 25.37 Crores (2011: Rs. Nil), Sprint Advisory Services Private Limited
 Rs. 12.25 Crores (2011:Rs. 42.91 Crores), Shendra Advisory Services
 Private Limited Rs. 10.59 Crores (2011:Rs. 20.36 Crores) Future
 Generali India Insurance Company Limited Rs. 21.67 Crores (2011:Rs.
 42.08 Crores), Future Generali India Life Insurance Company Limited Rs.
 43.61 Crores (2011:Rs. 89.25 Crores)
 
 viii.  Dividend Received includes Future Capital Holding Limited Rs.
 6.68 Crores (2011: Rs. 3.48 Crores), Apollo Design Apparel Parks
 Limited. Rs. 1.76 Crores (2011: Rs. 0.88 Crores), Goldmohur Design and
 Apparel Park Limited Rs. 1.83 Crores (2011: Rs. 0.91 Crores)
 
 ix.  Deposit given includes Bansi Mall Management Company Private
 Limited Rs. 13.80 Crores (2011: Rs. Nil),Future Corporate Resources
 Limited Rs. 115.00 Crores (2011: Rs. 4.76 Crores)
 
 x.  Share Application Money paid includes Sprint Advisory Services
 Private Limited Rs. 8.69 Crores (2011: Rs. Nil), Future Generali India
 Insurance Company Ltd Rs. 5.10 Crores (2011:Rs. Nil), Shendra Advisory
 Services Pvt Ltd Rs.4.90 Crores (2011: Rs. Nil)
 
 xi.  Advance Given includes Galaxy Entertainment Corporation Limited
 Rs. 3.83 Crores (2011:Rs. Nil), Future Corporate Resources Limited Rs.
 163.81 Crores (2011: Rs. 0.31 Crores)
 
 xii. Deposit Received includes S.J. Retail Private Limited Rs. 0.34
 Crores (2011: Rs. Nil)
 
 xiii.  Inter Company Deposits taken includes Apollo Design Apparel
 Parks Limited Rs. 25.00 Crores (2011: Rs. 25.66 Crores), Goldmohur
 Design & Apparel Park Limited Rs. 21.25 Crores (2011: Rs. 21.62 Crores)
 
 3.  CAPITAL AND OTHER COMMITMENTS
 
 Estimated amount of contracts remaining to be executed on capital
 account and not provided for (net of advances) Rs. 28.22 Crores (2011:
 Rs. 48.60 Crores).
 
 4.  CONTINGENT LIABILITIES
 
                                                    (Rs. In Crores)
 
 Particulars                                      2011-12    2010-11
 
 A.  Claims against the Company not acknowledged
 as debts
 
 i) Value Added Tax Act / Income Tax Act             5.18        Nil
 
 ii) Others                                         49.56      26.78
 
 B.  Corporate Guarantees given to banks and 
 Financial Institutions on behalf of               303.59     859.07 
 Group Companies
 
 5.  SEGMENT REPORTING
 
 The Company is primarily engaged in the business of retail trade, which
 in terms of Accounting Standard 17 Segment Reporting constitutes
 a single reporting segment.
 
 6.  The borrowing cost capitalized during the period ended December
 31, 2012 was Rs. 38.68 Crores (2011: Rs. 24.13 Crores).
 
 7.  FORFEITURE OF MONEYS RECEIVED AGAINST SHARE WARRANTS
 
 During the period company has forfeited the warrants money of Rs.100
 Crores on account of non-exercise of their conversion option by the
 equity warrant holders.
 
 8.  Pursuant to the levy of service tax on renting of immovable
 properties given for commercial use, retrospectively with effect from
 June 01, 2007 by the Finance Act, 2010, the company based on legal
 advice, challenge the levy through Retailers Association of India and
 its retrospective application. The Hon''ble Supreme Court had passed an
 interim order dated October 14, 2011. In compliance of this order
 company has made an aggregate deposit of Rs. 43.31 Crores in respect of
 the liability for such service tax for the period from June 01, 2007 up
 to September 30, 2011. From October 01, 2011, the company is accounting
 & paying for such service tax regularly as per directives of the
 Supreme Court. Accordingly the company has not made provision of Rs.
 86.62 Crores for the period for the period June 01, 2007 to September
 30, 2011 which would be appropriately recognized on final
 determination.
 
 9.  During the period covered by these financial statements, the Board
 of Directors have approved the Scheme of Arrangement between the
 Company and Peter England Fashions and Retail Limited (PEFRL) and
 their respective shareholders and creditors and Indigold Trade and
 Services Limited (ITSL), in its capacity as shareholder of
 Resulting Company (Pantaloon Demerger Scheme).
 
 The Appointed Date for the Pantaloon Demerger Scheme is July 01, 2012
 and the same envisages demerger of Pantaloon Format Division of the
 Company into PEFRL, an indirect wholly owned subsidiary of Aditya Birla
 Nuvo Limited and issue of shares of PEFRL to shareholders of the
 Company. Scheme had already been cleared by Stock Exchanges by issuance
 of clearance under clause 24F of the listing agreement and Competition
 Commission of India to proposed combination, Shareholders in court
 convened meeting and by Regional Director by submitting their
 observation to the Hon''ble Bombay High Court. The Scheme is pending for
 final hearing before the Hon''ble Bombay High Court.
 
 The Scheme shall be given effect to in the Books with effect from the
 Appointed Date of July 01, 2012 upon receipt of all necessary
 approvals.
 
 10.  During the period covered by this financial statement, the Board
 of Directors have also approved the following Scheme of Amalgamation of
 Future Value Retail Limited (FVRL), wholly owned subsidiary of
 the Company, with The Company and their respective shareholders and
 creditors (FVRL merger Scheme).
 
 The Appointed Date for the Amalgamation Scheme is July 01, 2012 and the
 same envisages merger of FVRL into the Company. The petition in respect
 of the Scheme is to be filed before the Hon''ble Bombay High Court.
 
 The Scheme shall be given effect to in the Books with effect from the
 Appointed Date of July 01, 2012 upon receipt of all necessary
 approvals.
 
 11.  Further the Board of Directors of the Company have also approved
 the Composite Scheme of Arrangement and Amalgamation between
 Indus-League Clothing Limited (ILCL), Lee Cooper (India) Limited
 (LEE), Future Ventures India Limited(FVIL), the Company and
 Future Lifestyle Fashions Limited (FLFL) and their respective
 shareholders and creditors (Fashion Demerger Scheme).
 
 The Appointed Date for the Fashion Demerger Scheme is January 01, 2013
 and the same envisages demerger of various fashion format divisions of
 the Company including Central, Brand Factory, Planet
 Sports and aLL with a view to unlock value for shareholders.
 
 12.  There are no Micro, Small and Medium Enterprises, to whom the
 Company owes dues which are outstanding for more than 45 days during
 the period. This information as required to be disclosed under the
 Micro, Small and Medium Enterprise Development Act, 2006 has been
 determined to the extent such parties have been identified on the basis
 of information available with the Company.
 
 13.  For the period ended December 31, 2012 the Board of Directors of
 the Company have recommended dividend of Rs.1.10 per share (2011: Rs.
 0.90) to equity shareholders and Rs. 1.14 per share (2011: Rs. 1.00) to
 Class B (Series-1) shareholders and aggregating to Rs. 29.68 Crores
 (2011: Rs. 23.56 Crores) including Dividend Distribution Tax.
 
 14.  a. The Company uses foreign currency forward contracts to hedge
 its risks associated with foreign currency exposures relating to the
 underlying transactions and firm commitments. The Company does not
 enter into any derivative instruments for trading and speculative
 purposes.
 
 Forward contracts outstanding as at December 31, 2012 are Rs. 24.65
 Crores (2011: Rs. 46.78 Crores).
 
 b.  As of balance sheet date, the company has net foreign currency
 exposures (In USD) that are not hedged by derivative instruments or
 otherwise amounting to Rs. 9.94 Crores (2011:Rs. Nil).
 
 15.  TAX CHARGES
 
 Tax Expenses comprise of current tax and deferred tax. The provision
 for current income tax is the aggregate of the balance provision for 9
 months ended March 31, 2012 and the estimated provision based on the
 taxable profit of remaining 9 months up to December 31, 2012 the actual
 tax liability, for which, will be determined on the basis of the
 results for the period April 01, 2012 to March 31, 2013.
 
 16.  During the period, company has allotted 81, 63,265 Equity Share of
 Rs. 2/- each at a premium of Rs. 243/- on preferential basis.
 
 17.  PREVIOUS YEAR FIGURES
 
 The financial statements for the year ended June 30, 2011, had been
 prepared as per the applicable and pre-revised Schedule VI to the
 Companies Act, 1956. Consequent to the notification of Revised Schedule
 VI under the Companies Act, 1956, the financial statements for the 18
 months ended December 31, 2012 are prepared as per the Revised Schedule
 VI. Accordingly, the previous year figures have also been reclassified
 to conform to this year''s classification. The adoption of Revised
 Schedule VI for previous year figures does not impact any recognition
 and measurement principles followed for the preparation of financial
 statements. The previous year''s figures have been reworked, regrouped,
 rearranged and reclassified wherever necessary. Current period figures
 are not comparable with the previous year on account of extension of
 the accounting period by 6 months from July 01, 2012 to December 31,
 2012.