(Rs. in Lacs)
 
                                                2010-11        2009-10
 
 a) Counter Guarantees Given by the Company 
 for Bank Guarantees                          59,961.68      88,423.60
 
 b) Other Guarantees Given by the Company 
 on behalf of
 
 - Subsidiary Company                        119,885.25      76,963.70 
 
 [Includes Corporate Guarantee
 as Security for a Standby Letter of
 Credit (SBLC) given by a bank in USA 
 amounting to Rs. 31,200 Lacs
 (equivalent to USD 78 mn) towards 
 security for Tax Exempt Variable Rate
 Demand Revenue Bonds - Series 2007A 
 and Taxable Variable Rate Demand
 Revenue Bonds - Series 2007B issued 
 by Mississippi Business Finance
 Corporation USA on behalf of 
 company''s wholly owned subsidiary]
 
 - Others                                      1,987.84       1,956.03
 
                                             121,873.09      78,919.73
 
 c) Letter of Credit Outstandings 
 (Not yet Commited)                           65,767.35       5,556.14
 
 d) Bills Discounting                           8092.28       14808.76
 
 e) Estimated amount of contracts 
 remaining to be executed                       3000.00        3000.00
 on capital account and not 
 provided for (net of advances)
 
 f) (i) Income Tax Assesments Completed upto AY 2008-09 (March 2008),
 Demand raised by the Department amounting to Rs. 74.91 lacs is
 contested before CIT Appeal Mumbai.
 
 (ii) Appeals for the Assessment Year 2007-08 and 2006-07 is pending
 before ITAT, Mumbai
 
 (iii) The Department raised the demand of Rs. 700 Lacs for AY 2005-06
 u/s 143(3) of the Act read with u/s 263 of the Act. Company has
 preferred an appeal before ITAT challenging the commissioner directive
 u/s 263 which is pending before the ITAT Mumbai.
 
 g) Gujarat Water Supply & Sewerage Board (GWSSB), a Government of
 Gujarat Undertaking and a regular customer of the Company has made a
 reference to Gujarat Public Works Contracts Disputes Arbitration
 Tribunal for settlement of some diputes, including a claim against the
 Company arising out of a routine contract awarded earlier to the
 Company, the performance of which was hit by force majeure conditions.
 As company has since challenged the jurisdiction of aforesaid tribunal,
 the matter is pending. Hence at this stage no provision has been made
 in the attached accounts towards any possible liability on this
 account.
 
 h) The renewal of leave & license admeasuring to 329216 Sqm (Area) of
 Kandla Port Trust is under progress before the competent authority.
 
 x.  Impact of Issue of Foreign Currency Convertible Bonds (FCCB''S)
 
 In September 2005 the Company had issued Zero Coupon Foreign Currency
 Convertible Bonds (FCCB''S) worth US  Million. As per terms of issue,
 these Bonds which were listed on Singapore Stock Exchange were
 convertible into fully- paid and pari passu ranking equity shares of
 Rs. 10/- each at premium of Rs. 224.54 on or any day prior to 8th
 August, 2010.
 
 During the year, these bonds worth USD 2.5 Million being the pending
 face value of the bonds along with the eligible premium for five year
 were redeemed completely on 3rd September, 2010. Hence pending FCCB as
 on 31st March 2011 - NIL.
 
 2.  Loans & Advances Includes Amount Receivable from Companies under
 Same Management Rs. 780.24 Lacs (Previous Year Rs. 605.25 Lacs).
 
 3.  The Company is in the process of identifying the Suppliers who are
 Small Scale Industries & Undertaking. The amount due to them has not
 been quantified during the year.
 
 4.  In the opinion of the Board the Current Assets are approximately
 of the value, if realised, in the ordinary course of the business.  The
 Provision for Depreciation and for all known Liabilities are adequate
 and not in excess of the amount reasonably considered necessary. All
 the Income Accrued has been accounted for in the Books.
 
 5.  Schedules A to Q forming an integral part of the Balance Sheet and
 Profit and Loss Account are duly authenticated.
 
 6.  The Previous Year figures have been Re-grouped/Rearranged wherever
 necessary to confirm the Current Year Classification.