1 Previous year
 
 Figures of the Previous year have been regrouped and reclassified,
 wherever required. Previous year''s figures are not comparable on account
 of the effects of the Scheme considered during the year.
 
 2 Foreign Currency Convertible Bonds (FCCBs)
 
 (i) The Company issued FCCBs in two tranches; 5,00,000 FCCBs for 5
 years, 4.65%, USD 500 million issued on May 9, 2006 and 10,000 FCCBs
 for 5 years, 4.95%, USD 1,000 million issued on February 28, 2007.
 Pursuant to the exercise of an option by the FCCB Holders and in
 accordance with the terms and conditions thereof, the Company, during
 the earlier years, allotted 1,87,44,801 fully paid Equity Shares of Rs. 5
 each at a pre determined premium of Rs. 475.68 per share against 2,03,051
 FCCBs and 6,67,090 fully paid Equity Shares of Rs. 5 each at a pre
 determined premium of Rs. 656.23 per share against 100 FCCBs
 respectively.
 
 (ii) During the earlier years, the Company has bought back and
 cancelled 647 nos. of 5 year, 4.95%, FCCBs of the face value of USD
 1,00,000 each, as per approval of the Reserve Bank of India, at a
 discount to the face value.
 
 Out of total FCCBs issued, 2,96,949 (Previous year 2,96,949) FCCBs and
 9,253 (Previous year 9,253) FCCBs from the respective tranches were
 outstanding as on March 31, 2011.
 
 (iii) Subsequent to the date of Balance sheet, i.e. March 31, 2011, in
 accordance with the terms of issue of 5,00,000 FCCBs for 5 years,
 4.65%, USD 500 million issued on May 9, 2006, the Company has redeemed
 all outstanding FCCBs by making payment on due date i.e. May 9, 2011.
 As a result, the Company is not required to allot 2,74,13,085 Equity
 Shares of Rs. 5 each arising out of conversion of the said FCCBs.
 
 (iv) In the event, if the outstanding FCCBs are fully converted into
 Equity Shares, the Equity Share Capital of the Company would increase
 by approximately 6.17 crore (Previous year 8.91 crore) Equity Shares of
 Rs. 5 each.
 
 (v) In case of the above mentioned FCCBs, on and at anytime after
 February 28, 2010 on and prior to the maturity date, the Company may,
 subject to certain terms and conditions as per the offering memorandum,
 redeem the FCCBs in whole and not in part at their Early Redemption
 amount, provided that no such redemption may be made unless the
 aggregate value (as defined in the terms and conditions) on each trading
 day during the periods of not less than 30 consecutive trading days,
 ending not earlier than 14 days prior to the date upon which notice of
 such redemption is given, was at least 130 percent of the early
 redemption amount.
 
 (vi) FCCBs amount includes Rs. 1,245.87 crore (Previous year Rs. 942.32
 crore), being the premium on redemption of FCCBs computed on pro rata
 basis for the period up to March 31, 2011.
 
 3 Foreign Exchange
 
 During the year, loss of Rs. 105.36 crore (Previous year Rs. Nil) arising
 out of marking related Derivative Contracts to market has been
 recognized in the profit and Loss Account, in compliance with the
 announcement dated March 29, 2008 by the Institute of Chartered
 Accountants of India (ICAI) regarding Accounting for Derivatives.
 
 4 Schemes of Amalgamation and Arrangement of the earlier years
 
 The Company, during the past years, undertook various Schemes including
 restructuring of ownership structure of telecom business so as to align
 the interest of the shareholders. Accordingly, pursuant to the Schemes
 of Amalgamation and Arrangement (the Schemes) under Sections 391 to
 394 of the Companies Act, 1956 approved by the Hon''ble High Courts of
 respective judicature, the Company, during the respective years,
 recorded all necessary accounting effects, along with requisite
 disclosure in the notes to the accounts, in accordance with the
 provisions of the said Schemes. The cumulative effects of the Schemes
 in case of Equity Share Capital of the Company have been disclosed
 below the respective Schedule to the Accounts. Reserves, pursuant to
 the said Schemes, include:
 
 (i) Rs. 8,882.62 crore, being Securities Premium Account, which was part
 of the Security Premium of erstwhile Reliance Infocomm Limited (RIC),
 the transferor company.
 
 (ii) General Reserves I of Rs. 5,538.00 crore representing the unadjusted
 balance being the excess of assets over liabilities relatable to
 Telecommunications Undertaking transferred and vested into the Company.
 
 (iii) General Reserves II ofRs. 2,785.21 crore representing the
 unadjusted balance of the excess of assets over liabilities received by
 the Company relatable to Telecommunications Undertaking transferred and
 vested into the Company.
 
 (iv) General Reserve III ofRs. 30,229.81 crore comprises ofRs. 4,375.43
 crore transferred to General Reserve from the profit and Loss Account
 and Rs. 25,854.38 crore arising pursuant to Scheme of Amalgamation of
 Reliance Gateway Net Limited.
 
 (v) Reserve for Business Restructuring of Rs. 1,287.10 crore representing
 the unadjusted balance of revaluation of investment in Reliance
 Communications Infrastructure Limited (RCIL), the Holding Company of
 Reliance Infratel Limited (RITL) after withdrawing an amount equivalent
 to writing off Passive Infrastructure assets, transferred to RITL, to
 the profit and Loss Account. Balance in Reserve for Business
 Restructuring shall be available to meet the increased depreciation,
 costs, expenses and losses including on account of impairment of or
 write down of assets etc.
 
 (vi) Additional depreciation arising on fair value of the assets has
 been adjusted from General Reserve III and Provision for Business
 Restructuring.
 
 5 Scheme of Amalgamation and Arrangement
 
 Pursuant to the Scheme of Amalgamation (the Scheme) under Sections
 391 to 394 of the Companies Act, 1956 sanctioned by the Hon''ble High
 Court of Bombay vide Order dated April 29, 2011 and filed with the
 Registrar of Companies (RoC) on May 25, 2011, Global Innovative
 Solutions Private Limited (GISPL), a Wholly Owned Subsidiary of the
 Company, engaged in allied telecommunication activities, has been
 amalgamated into the Company with effect from the Appointed Date as on
 April 1, 2010.
 
 As per the said Scheme:
 
 (i) All the assets and liabilities as appearing in the books of GISPL
 as on the Appointed Date have been recorded in the books of the Company
 at their respective book values and inter company balances have been
 cancelled.
 
 (ii) Excess of assets over liabilities of Rs. 1.002 crore has been
 credited to General Reserve III of the Company.
 
 (iii) The Company''s investment in the share capital of GISPL amounting
 to Rs. 1.00 crore has been written off to the profit and Loss Account and
 an equivalent amount has been withdrawn from General Reserve III.
 
 Had the Scheme not prescribed this treatment, Rs. 0.002 crore would have
 been credited to Capital Reserve as required by the Purchase Method
 prescribed by Accounting Standard (AS) 14 Accounting for
 Amalgamation.
 
 6 Depreciation on Electronic Equipments
 
 During the previous year, the Company had carried out technical/
 technology assessment to determine the useful life of some of its
 telecommunications equipments. The useful life of such
 telecommunications equipments had been re-assessed and ascertained as
 18 years, impacting the provision of depreciation of these assets for
 the year ended on March 31, 2010. As a result, depreciation charge was
 lower and profits for the previous year was higher by Rs. 771.00 crore.
 The accounting treatment so determined has been fully in accordance
 with the applicable provisions of the Companies Act, 1956.
 
 8 Provisions
 
 (i) Provisions include, provision for disputed claims of verification of
 customers Rs. 9.04 crore (Previous year Rs. 9.04 crore) and others of Rs.
 1,398.75 crore (Previous year Rs. 1,650.88 crore) net of payment of Rs. 150
 crore to Department of Telecommunications (DoT) in relation to the
 matter pertaining to Home Country Direct (HCD) Calls and Provision for
 Commission to Non Executive Directors of Rs. Nil (Previous year Rs. 0.60
 crore).
 
 (ii) During the year, an amount of Rs. Nil (Previous yearRs. 140.00 crore)
 relating to Roll out obligations, Rs. 102.13 crore (Previous year Rs. 50.52
 crore) relating to disputed liablities have been reversed and provided
 an amount of Rs. Nil (Previous year Rs. 5.64 crores) towards disputed
 interconnect usage charges. Further, the Company paid Rs. 0.60 crore
 (Previous yearRs. 0.60 crore) towards commission to Non Executive
 Directors for the financial year 2009-10.
 
 (iii) Also refer Note 2 (vi) above.
 
 The aforesaid provisions shall be utilised on settlement of the claims,
 if any, thereagainst.
 
 9 Contingent Liabilities and Capital Commitment (as represented by the
 Management)
 
                                                      (Rs. in crore)
 
                                             As at               As at
  
                                    March 31, 2011      March 31, 2010
 
 (i) Estimated amount of contracts 
 remaining to be                            356.78              220.22
 executed on capital accounts (net of 
 advances) and not provided for
 
 (ii) Disputed Liabilities in Appeal
 
 - Sales Tax and VAT                         12.48               52.05
 
 - Excise and Service Tax                     2.08                2.08
 
 - Entry Tax and Octroi                      23.30                1.55
 
 - Other Litigations                         27.19                0.30
 
 - Interest on ADC on FWP/T                 160.40                   -
 
 (iii) Guarantees given by the Company 
 on behalf of its                         1,116.14            2,536.64
 Subsidiaries
 
 (iv) Guarantees given by the Company 
 on behalf of other                         420.64              461.99
 companies for business purpose
 
 10 Deferred Tax Assets and Liabilities
 
 The Company being in the business of Telecommunication Services,
 Broadband Network and Internet services, are eligible for deduction u/s
 80IA (Tax Holiday) of the Income tax Act, 1961. Since the Deferred Tax
 Liability in respect of timing difference is expected to reverse during
 Tax Holiday Period, the same is not recognised in books of accounts as
 at March 31, 2011 as per the Accounting Standard (AS) 22 of Accounting
 for Taxes on Income as referred to in Accounting Standard Rules.
 Following the principle of prudence, the Company has not recognised
 Deferred Tax Asset in respect of debits for equalised lease rentals.
 
 16 Operating Lease
 
 The Company''s significant leasing arrangements are in respect of
 operating leases for premises and network sites. These lease agreements
 provide for cancellation by either parties thereto as per the terms and
 conditions of the agreements. The Company is a lessee in respect of
 Optic Fibres and in respect of this lease, lease rent of Rs.1,141.00
 crore, (Previous year Rs.1,141.00 crore) including Rs. 1,129.00 crore
 (Previous year Rs.1,129.00 crore) not leviable for the year as per the
 lease agreement, has been recognised on a straight line basis as
 Network Expenses and corresponding amount is included in Sundry
 Creditors.
 
 18 Export Commitments
 
 The Company has obtained licenses/ authorisations under the Export
 Promotion Capital Goods (EPCG) Scheme for importing capital goods at a
 concessional rate of customs duty against submission of bonds. Under
 the terms of the respective licenses/ authorisations, the Company is
 required to export goods of FOB value equivalent to or more than, eight
 times the amount of duty saved in respect of such licenses/
 authorisations, where export obligation has been refixed by the order of
 Director General Foreign Trade (DGFT), Ministry of Commerce and
 Industry, Government of India, as applicable. The Company has fulfilled
 its export obligation under the aforesaid licenses as on March 31, 2011
 and has submitted the necessary documents to DGFT for availing
 redemption letter for completion of export obligation amounting to Rs.
 334.00 crore (Previous year Rs. 494.40 crore).
 
 19 Segment Performance
 
 Disclosure as per Accounting Standard (AS) 17 Segment Reporting is
 reported in Consolidated Accounts of the Company.  Therefore, the same
 has not been separately disclosed in line with the provision of AS.
 
 20 Employee benefits
 
 Gratuity : In accordance with the applicable Indian laws, the Company
 provides for the gratuity, a defined benefit retirement plan (Gratuity
 Plan) for all employees. The Gratuity Plan provides a lump sum payment
 to vested employees, at retirement or termination of employment, an
 amount based on respective employee''s last drawn salary and for the
 years of employment with the Company.
 
 Provident Fund : The guidance on implementing Accounting Standards
 (AS) 15 Employee benefits (revised 2005) issued by the ICAI states
 that the benefits involving employer established Provident Fund, which
 require interest shortfalls to be recompensed are to be considered
 defined benefit plans. The actuary of the Company has expressed his
 inability to reliably measure provident fund liabilities as the
 guidance note from The Institute of Actuaries of India is yet to be
 issued. Accordingly, the Company is unable to provide the related
 information.
 
 21 Disclosure under Micro, Small and Medium Enterprises Development
 Act, 2006 (MSMED)
 
 Under the Micro, Small and Medium Enterprises Development Act, 2006
 (MSMED) which came into force from October 2, 2006, certain disclosures
 are required to be made relating to MSME. On the basis of the
 information and records available with the Company, the following
 disclosures are made for the amounts due to the Micro and Small
 Enterprises.
 
 24 Employee Stock Option Scheme
 
 The Company operates two Employee Stock Option Plans; ESOS Plan 2008
 and ESOS Plan 2009, which cover eligible employees of the Company the
 Holding Company and its Subsidiaries. ESOS Plans are administered
 through an ESOS Trust. The Vesting of the Options is on the expiry of
 one year from the date of Grant as per Plan under the respective
 ESOS(s). In respect of Options granted, the accounting value of Options
 (based on market price of the share on the date of the grant of the
 option) is accounted as deferred employee compensation, which is
 amortised on a straight line basis over the Vesting Period. Each Option
 entitles the holder thereof to apply for and be allotted one Equity
 Share of the Company of Rs. 5 each upon payment of the Exercise Price
 during the Exercise Period. The maximum Exercise Period is 10 years
 from the date of Grant of Options.
 
 The Company has established a Trust for the implementation and
 management of ESOS for the benefit of its present and future employees.
 Advance of Rs. 388.77 crore (Previous year Rs. 331.16 crore) has been
 granted to the Trust and Rs. 390.95 crore (Previous year Rs. 331.00 crore)
 has been utilised by the Trust for purchasing 2.13 crore (Previous year
 1.67 crore) Equity Shares during the period upto March 31, 2011.
 
 Amortization of compensation includes write back of Rs. 6.73 crore
 (Previous year Rs. 6.65 crore) based on intrinsic value Options which
 have been vested under ESOS Plan 2008 and reflected as Exceptional Item
 in profit and Loss Account. No amount is chargeable in respect of
 Options granted under ESOS Plan 2009.
 
 25 Exceptional Items
 
 Amortization of compensation is net of write back of charges of Rs. 6.73
 crore (Previous yearRs. 6.65 crore) based on intrinsic value of Options,
 which have lapsed under ESOS Plan 2008 as mentioned in Note 24 above
 and Stamp Duty of Rs. Nil (Previous year Rs. 25 crore) paid by the Company
 on conveyancing of the assets pursuant to the Schemes approved by the
 Hon''ble High Court.
 
 26 Recovery of Expenses
 
 Expenses under the heads Provision for Employees Cost and Other
 Expenses are net of recoveries for common cost from Reliance
 Communications Infrastructure Limited (RCIL), a Wholly Owned Subsidiary
 of the Company. Such amounts recovered for the year amount to Rs. 200.44
 crore (Previous year Rs. 116.86 crore) for Salaries, Rs. 434.61 crore
 (Previous year Rs. 506.91 crore ) for Sales and General Administration
 Expenses comprising of Rs. 34.87 crore (Previous year Rs. 81.00 crore) for
 Advertising Expenses, Rs. 326.96 crore (Previous year Rs. 339.62 crore) for
 Customer Acquisition, Commission, Billing and Collection, Webstore
 expenses and Customer Care, Rs. 72.78 crore (Previous year Rs. 86.29 crore)
 for Hire Charges. Similarly, the amount recovered from Reliance
 Infratel Limited (RITL), a subsidiary of RCIL for the year includes Rs.
 88.09 crore (Previous year Rs. 17.75 crore) for Salaries and Rs. 26.54
 crore (Previous year Rs. 35.76 crore) for Sales and General
 Administration Expenses. The Company has also collected interest,
 equivalent to its cost of funds, from RITL and Reliance Telecom Limited
 (RTL) amounting to Rs. 594.63 crore (Previous yearRs. 250.55 crore) and Rs.
 47.85 crore (Previous yearRs. 230.96 crore) respectively for the year
 ended March 31, 2011. Similarly, the amount recovered from Reliance Big
 TV Limited (RBTV), a Wholly Owned Subsidiary of the Company includes Rs.
 4.53 crore (Previous yearRs. Nil) for Hire Charges and Rs. 26.08 crore
 (Previous yearRs. 37.11 crore) for Salaries.
 
 27 Debenture Redemption Reserve
 
 In view of the loss during the year, the Company has not created
 Debenture Redemption Reserve of Rs. 74.96 crore in terms of Section 117
 (C) of the Companies Act, 1956. The Company shall create such reserve
 out of profit, if any in future years.
 
 28 General Reserve
 
 The Company, during the year, transferred Rs. 216.19 crore, out of the
 balance of Rs. 4,375.43 crore in General Reserve III created by transfer
 from profit and Loss Account in earlier years, pursuant to Section 205A
 (3) of the Companies Act, 1956 and the Companies (Declaration of
 Dividend out of Reserves) Rules, 1975 and proposed dividend out of the
 accumulated profits of the previous years.
 
 29 License Fees
 
 The Company accounts for its liabilities in respect of Licence Fees
 payable for its Telecom as well as Direct To Home (DTH) businesses by
 way of Revenue Share to be computed on the Gross Revenue of the Company
 after taking into account the decision of Telecom Disputes Settlement
 And Appellate Tribunal (TDSAT) dated August 30, 2007 specifying that
 revenues not related to unified Access Services (UAS) and Other Licences
 under which the Company operates are not to be included in the
 computation of Revenue Share. The TDSAT has, by its decision dated
 March 26, 2009 and May 7, 2010 applied the said decision dated August
 30, 2007 to the Company. The decision of the TDSAT is the subject
 matter of Appeal pending before the Supreme Court. No provision is
 considered necessary in this regard.
 
 30 Special Audit
 
 Pursuant to the Telecom License Agreement, Department of
 Telecommunications (DoT) directed audits of various Telecom companies
 including of the Company. The Special Auditors appointed by DoT were
 required to verify records of the Company and some of its subsidiaries
 for the years ended March 31, 2007 and March 31, 2008 relating to
 license fees and revenue share.  The report of the Special Auditor''s
 alleging a shortfall of license fee and revenue share of Rs. 316.00 crore
 is mala fide and is in the Company''s opinion biased and full of errors
 and inaccuracies. Criminal complaints filed by the Company against the
 wrongful leaking of the Report are being investigated by the Police.
 The ICAI is investigating the professional and other misconduct of the
 Special Auditor. The Company has also made presentations and
 representations to DoT on the observations of the Special Auditor. The
 Company is advised that based, inter alia, on current understanding of
 the regulation by the industry and judicial pronouncements directly
 applicable to the issues raised in the special audit report, all of
 which have not been properly considered nor appreciated in the Report,
 no provision is required in the accounts of the Company.
 
 31 Financial Statements of Subsidiary Companies
 
 The Ministry of Corporate Affairs, Government of India vide its General
 circular no. 2 and 3 dated February 8, 2011 and February 21, 2011, has
 granted general exemption from compliance with section 212 of the
 Companies Act, 1956, subject to fulfillment of conditions stipulated in
 the circular. The Company has satisfied the conditions stipulated in the
 circular and hence is entitiled to the exemption. Necessary information
 relating to subsidiaries has been included in the Consolidated
 Financial Statements.
 
 32 Related Parties
 
 As per Accounting Standard (AS) 18, ''Related Party Disclosures''
 prescribed under the Accounting Standard Rules, the disclosures of
 transactions with the related parties are given below.
 
 A List of Related Parties : where control exists
 
 Sr.  Name of the Subsidiary Companies (direct and step
 No.  down subsidiaries)
 
 1 Reliance WiMax Limited
 
 2 Reliance Digital Home Services Limited
 
 3 Reliance Webstore Limited
 
 4 Reliance Infocomm Infrastructure Private Limited
 
 5 Campion Properties Limited
 
 6 Reliance Big TV Limited
 
 7 Reliance Tech Services Private Limited
 
 8 Reliance Telecom Limited
 
 9 Reliance Communications Infrastructure Limited
 
 10 Reliance Communications Investment and Leasing Limited
 
 11 Reliance Infratel Limited
 
 12 Netizen Rajasthan Limited
 
 13 Reliance Globalcom BV
 
 14 Reliance Communications (UK) Limited
 
 15 Reliance Communications (Hong Kong) Limited
 
 16 Reliance Communications (Singapore) Pte. Limited
 
 17 Reliance Communications (New Zealand) Pte. Limited
 
 18 Reliance Communications (Australia) Pty. Limited
 
 19 Anupam Global Soft (U) Limited
 
 20 Gateway Net Trading Pte. Limited
 
 21 Reliance Globalcom Limited
 
 22 FLAG Telecom Singapore Pte. Limited
 
 23 FLAG Atlantic UK Limited
 
 24 Reliance FLAG Atlantic France SAS
 
 25 FLAG Telecom Taiwan Limited
 
 26 Reliance FLAG Pacific Holdings Limited
 
 27 FLAG Telecom Group Services Limited
 
 28 FLAG Telecom Deutschland GmbH
 
 29 FLAG Telecom Hellas AE
 
 30 FLAG Telecom Asia Limited
 
 31 FLAG Telecom Nederland BV
 
 32 Reliance Globalcom (UK) Limited
 
 33 Yipes Holdings Inc.
 
 34 Reliance Globalcom Services Inc.
 
 35 YTV Inc.
 
 36 Reliance Infocom Inc.
 
 37 Reliance Communications Inc.
 
 38 Reliance Communications International Inc.
 
 39 Reliance Communications Canada Inc.
 
 40 Bonn Investment Inc.
 
 41 FLAG Telecom Development Limited
 
 42 FLAG Telecom Development Services Company LLC
 
 43 FLAG Telecom Network Services Limited
 
 44 Reliance FLAG Telecom Ireland Limited
 
 45 FLAG Telecom Japan Limited
 
 46 FLAG Telecom Ireland Network Limited
 
 47 FLAG Telecom Network USA Limited
 
 48 FLAG Telecom Espana Network SAU
 
 49 Reliance Vanco Group Limited
 
 50 Euronet Spain SA
 
 51 Net Direct SA (Properietary) Limited (Under liquidation)
 
 52 Vanco (Shanghai) Co. Limited
 
 53 Vanco (Asia Pacific) Pte. Limited
 
 54 Vanco Australasia Pty. Limited
 
 55 Vanco EpE
 
 56 Vanco Sp Zoo
 
 57 Vanco Euronet Sro (Under liquidation)
 
 58 Vanco Gmbh
 
 59 Vanco Japan KK
 
 60 Vanco Net Direct Limited, Ireland (Struck off w.e.f. April 8, 2011)
 
 61 Vanco NV
 
 62 Vanco SAS
 
 63 Vanco South America Ltda
 
 64 Vanco Srl
 
 65 Vanco Sweden AB
 
 66 Vanco Switzerland AG
 
 67 Vanco Deutschland GmbH
 
 68 Vanco BV
 
 69 Vanco Benelux BV
 
 70 Vanco UK Limited
 
 71 Vanco International Limited
 
 72 Vanco Row Limited
 
 73 Vanco Global Limited
 
 74 WANcom Gmbh
 
 75 VNO Direct Limited
 
 76 Vanco US LLC
 
 77 Vanco Solutions Inc
 
 78 Reliance WiMAX World BVI
 
 79 Reliance WiMAX World BV
 
 80 Reliance WiMAX World Limited
 
 81 Reliance WiMAX World LLC
 
 82 Reliance WiMAX Congo Brazzaville BV
 
 83 Interconnect Brazzaville S. A.
 
 84 Reliance WiMAX Guinea BV
 
 85 Acess Guinea SARL
 
 86 Reliance WiMAX Sierra Leone BV
 
 87 Equatorial Communications Limited
 
 88 Reliance WiMAX Cameroon BV
 
 89 Equatorial Communications SARL
 
 90 Reliance WiMax D.R.C. BV
 
 91 Reliance WiMax Gambia BV
 
 92 Reliance WiMax Mauritius BV
 
 93 Reliance WiMax Mozambique BV
 
 94 Reliance WiMax Niger BV
 
 95 Reliance WiMax Zambia BV
 
 96 Access Bissau LDA
 
 97 Reliance Mobile Commerce Limited (w.e.f December 6, 2010)
 
 98 Seoul Telenet Inc. (Board Control)
 
 99 FLAG Holdings (Taiwan) Limited (Board Control)
 
 100 Reliance Telecom Infrastructure (Cyprus) Holdings Limited (Board
 Control)
 
 101 Lagerwood Investments Limited (Board Control)
 
 102 Flag Pacific Limited (Upto March 25, 2011)
 
 103 FLAGWEB Limited (Upto March 25, 2011)
 
 104 Flag Telecom Servizi Italia SpA (Upto January 21, 2011)
 
 105 Flag Telecom Belgium Network SA (Upto March 29, 2011)
 
 106 FLAG Telecom Taiwan Services Limited (Upto October 18, 2010)
 
 107 RCOM Malaysia SDN.BHD (Upto March 29, 2011)
 
 108 Vanco Aps (Upto March 29, 2011)
 
 109 Vanco Hongkong Solutions Limited (Upto March 29, 2011)
 
 110 Yipes Systems Inc. (Upto March 25, 2011)
 
 111 FLAG Access India Private Limited, India (Upto March 23, 2011)
 
 112 Vanco Net Direct Limited, UK (Upto March 29, 2011)
 
 113 Matrix Innovations Limited (Upto April 1, 2010)
 
 114 Reliance Global IDC Limited (Upto January 1, 2011)
 
 115 Global Innovative Solutions Private Limited (Upto April 1, 2010)
 
 Joint Venture
 
 116 Alcatel Lucent Managed Solutions India Private Limited
 
 Holding Company
 
 117 Reliance Innoventures Private Limited
 
 Individuals Promoters
 
 118 Shri Anil D. Ambani, the person having control during the year
 
 Key Managerial Personnel
 
 119 Shri Hasit Shukla
 
 B List of Other Related Parties where there have been transactions
 Associate Companies
 
 1 Warf Telecom International Private Limited
 
 2 Mumbai Metro Transport Private Limited
 
 Fellow Subsidairies
 
 3 Reliance Capital Limited
 
 4 Reliance General Insurance Company Limited
 
 Disclosure in respect of transactions, which are more than 10% of the
 total transactions of the same type with a related party during the
 year ended March 31, 2011
 
 1 Fixed assets acquired during the year include Rs. 34.28 crore from
 Reliance Tech Services Private Limited, Rs. 31.65 crore from Reliance
 Infratel Limited and Rs. 27.82 crore from Alcatel Lucent Managed
 Solutions India Private Limited, a JV (Previous year - Fixed assets
 acquired include Rs. 38.97 crore from Reliance Tech Services Private
 Limited and Rs.  238.94 crore from Reliance Infratel Limited. The Company
 transferred fixed assets pertaining to passive infrastructure of Rs.
 452.19 crore and Capital Work-in-Progress of Rs. 436.89 crore to Reliance
 Infratel Limited).
 
 2 Loans and Advances include loans granted during the year of Rs.
 5,944.99 crore to Reliance Communications Infrastructure Limited, Rs.
 230.51 crore to Reliance Webstore Limited, Rs. 479.88 crore to Reliance
 Big TV Limited, Rs. 69.25 crore to Reliance Infocomm Infrastructure
 Private Limited, Rs. 144.49 crore to Reliance Tech Services Private
 Limited, Rs. 21,291.04 crore to Reliance Telecom Limited, Rs. 26.66 crore
 to Campion Properties Limited, Rs. 326.11 crore to Reliance Infratel
 Limited and repaid /adjusted during the year Rs. 6,033.12 crore by
 Reliance Communications Infrastructure Limited, Rs. 23,394.91 crore by
 Reliance Telecom Limited, Rs. 3,549.35 crore by Reliance Infratel
 Limited, Rs. 125.01 crore by Reliance Tech Services Private Limited, Rs.
 208.98 crore by Reliance Infocomm Infrastructure Private Limited, Rs.
 206.70 crore by Reliance Webstore Limited and Rs. 429.31 crore by
 Reliance Big TV Limited (Previous year - Loans and Advances include,
 loan granted Rs. 15,496.03 crore to Reliance Communications
 Infrastructure Limited, Rs. 137.18 crore to Reliance Webstore Limited, Rs.
 802.66 crore to Reliance Infratel Limited, Rs. 326.13 crore to Reliance
 Big TV Limited, Rs. 56.37 crore to Reliance Infocomm Infrastructure
 Private Limited, Rs. 57.24 crore to Reliance Tech Services Private
 Limited, Rs. 25,485.59 crore to Reliance Telecom Limited, Rs. 23.80 crore
 to Campion Properties Limited and repaid during the year Rs. 15,506.48
 crore by Reliance Communications Infrastructure Limited, Rs. 289.82 crore
 by Reliance Webstore Limited, Rs. 195.08 crore by Reliance Big TV
 Limited, Rs. 29,794.00 crore by Reliance Telecom Limited, Rs. 1,835.69
 crore by Reliance Infratel Limited, Rs. 45.60 crore by Reliance Tech
 Services Private Limited, Rs.10.14 crore by Gateway Net Trading Pte.
 Limited and Rs. 278.30 crore by Reliance Infocomm Infrastructure
 Limited).
 
 3 Sundry Debtors include Rs. 276.93 crore from Reliance Communications
 Inc., Rs. 12.95 crore from Reliance Flag Atlantic France SAS Rs. 115.2
 crore from Reliance Communications Infrastructure Limited, Rs. 20.20
 crore from Reliance Communications International Inc., Rs. 2.08 crore
 from Reliance Communications Canada Inc., Rs. 31.33 crore from Reliance
 Telecom Limited, Rs. 48.46 crore from Reliance Big TV Limited , Rs. 10.51
 crore from Reliance Webstore Limited. (Previous year - Sundry Debtors
 include Rs. 303 crore from Reliance Communications, Inc., Rs. 14.20 crore
 from Reliance Flag Telecom Ireland Network Limited, Rs. 46.08 crore from
 Reliance Communications Infrastructure Limited, Rs. 42.43 crore from
 Reliance Communications International Inc., Rs. 0.94 crore from Reliance
 Communications Canada Inc., Rs. 92.20 crore from Reliance Telecom
 Limited, Rs. 24.65 crore from Reliance Big TV Limited and Rs. 21.69 crore
 from Reliance Webstore Limited).
 
 4 Loans include Rs. 319.45 crore to Reliance Big TV Limited, Rs. 1,529.36
 crore to Reliance Communications Infrastructure Limited, Rs. 405.64 crore
 to Reliance Infocomm Infrastructure Private Limited, Rs. 332.05 crore to
 Reliance Webstore Limited, Rs. 7.20 crore to Netizen Rajasthan Limited, Rs.
 1,467.21 crore to Reliance Telecom Limited, Rs. 141.28 crore to Campion
 Properties Limited, Rs. 2,718.94 crore to Reliance Infratel Limited, Rs.
 34.74 crore to Reliance Tech Services Private Limited and Advances
 include Rs. 1,430.51 crore to Reliance Communications Infrastructure
 Limited, Rs. 70.39 crore to Reliance Big TV Limited and Rs. 0.36 crore to
 Reliance Communications Investment and Leasing Limited (Previous year -
 Loans includeRs. 268.87 crore to Reliance Big TV Limited, Rs. 1,617.49
 crore to Reliance Communications Infrastructure Limited, Rs. 545.37 crore
 to Reliance Infocomm Infrastructure Private Limited, Rs. 308.24 crore to
 Reliance Webstore Limited, Rs. 7.20 crore to Netizen Rajasthan Limited, Rs.
 3,571.08 crore to Reliance Telecom Limited, Rs. 114.62 crore to Campion
 Properties Limited, Rs. 5,942.18 crore to Reliance Infratel Limited, Rs.
 15.27 crore to Reliance Tech Services Private Limited and Advances
 includes Rs. 1,425.88 crore to Reliance Communications Infrastructure
 Limited).
 
 5 Sundry Creditors include Rs. 107.59 crore to Reliance Flag Atlantic
 France SAS, Rs. 3,211.96 crore to Reliance Infratel Limited, Rs. 53.34
 crore to Reliance Communications (UK) Limited, Rs. 55.17 crore to
 Reliance Tech Services Private Limited, Rs. 3.63 crore to Reliance
 Infocom Inc., Rs. 79.48 crore to Alcatel Lucent Managed Solutions India
 Private Limited, a JV and Rs. 34.13 crore to Reliance Infocomm
 Infrastructure Private Limited (Previous year - Sundry Creditor
 includeRs. 40.63 crore to Reliance Flag Atlantic France SAS, Rs. 1,036.00
 crore to Reliance Infratel Limited, Rs. 25.84 crore to Reliance
 Communications (UK) Limited, Rs. 18.24 crore to Reliance Tech Services
 Private Limited, Rs. 3.72 crore to Reliance Infocom Inc, Rs.8.37 crore to
 Gateway Net Trading Pte. Limited Rs. 20.31crore to Reliance Infocomm
 Infrastructure Private Limited, Rs. 63.66 crore to Alcatel Lucent Managed
 Solutions India Private Limited, a JV).  Sundry Creditors also include
 Rs. 217.30 crore to Reliance Infratel Limited for availing passive
 infrastructure services for 3G Operations.
 
 6 Turnover includes Rs. 845.40 crore from Reliance Communications
 Infrastructure Limited, Rs. 488.27 crore from Reliance Communications
 Inc., Rs. 71.39 crore from Reliance Communications International Inc., Rs.
 19.21 crore from Reliance Webstore Limited, Rs. 17.39 crore from Reliance
 Flag Atlantic France SAS, Rs. 4.64 crore from Reliance Communications
 Canada Inc., Rs. 21.59 crore from Reliance Big TV Limited and Rs. 666.21
 crore from Reliance Telecom Limited (Previous year - Turnover includes
 Rs. 596.35 crore from Reliance Communications Infrastructure Limited, Rs.
 342.37 crore from Reliance Communications Inc., Rs. 111.41 crore from
 Reliance Communications International Inc., Rs. 42.47 crore from Reliance
 Webstore Limited, Rs. 15.10 crore from Flag Telecom Ireland Network
 Limited, Rs. 4.05 crore from Reliance Communications Canada Inc., Rs. 21.51
 crore from Reliance Big TV Limited and Rs. 462.52 crore from Reliance
 Telecom Limited).
 
 7 Other Income includes Sale of Capital inventories of Rs. 94.97 crore to
 Reliance Webstore Limited (Previous year -Rs. Nil)
 
 8 Expenditure includes Access Charges: Rs. 125.87 crore to Reliance
 Communications Inc., Rs. 240.43 crore to Reliance Telecom Limited.
 Network Operation Expenses: Rs. 4,679.52 crore to Reliance Infratel
 Limited. Rs. 78.47 crore to Flag Atlantic France SAS, Rs. 4.44 crore to
 Reliance Communications Infrastructure Limited and Rs. 27.71 crore to
 Reliance Communications (UK) Limited and Rs. 174.29 crore to Alcatel
 Lucent Managed Solutions India Private Limited, a JV Selling and
 Marketing expenses: Rs. 150.81 crore to Reliance Communications
 Infrastructure Limited and Rs. 117.02 crore to Reliance Webstore Limited.
 General and Administrative Expenses: Rs. 225.89 crore to Reliance
 Communications Infrastructure Limited, Rs. 40.57 crore to Reliance
 Infocomm Infrastructure Private Limited and Rs. 21.12 crore to Reliance
 Tech Services Private Limited. (Previous year - Expenditure include
 Access Charges: Rs. 149.38 crore to Reliance Communications Inc., Rs.
 137.87 crore to Reliance Telecom Limited. Network Operation Expenses: Rs.
 4,946.47 crore to Reliance Infratel Limited, Rs. 67.18 crore to Reliance
 Flag Atlantic France SAS, Rs. 6.86 crore to Reliance Communications
 Infrastructure Limited and Rs. 17.69 crore to Reliance Communications
 (UK) Limited. Selling and Marketing expenses: Rs. 132.45 crore to
 Reliance Communications Infrastructure Limited, Rs. 142.06 crore to
 Reliance Webstore Limited.  General and Administrative Expenses: Rs.
 195.33 crore to Reliance Communications Infrastructure Limited, Rs. 51.19
 crore to Reliance Infocomm Infrastructure Private Limited, Rs. 18.04
 crore to Reliance Tech Services Private Limited, Rs. 154.26 crore to
 Alcatel Lucent Managed Solutions India Private Limited, a JV. Rs. 23.09
 crore to Reliance General Insurance Company Limited.  Rent, Rates and
 Taxes: Rs. 2.63 crore to Reliance Capital Limited).
 
 9 Expenditure under the heads Provision for Salaries Cost, Selling and
 Distribution, General and Administration and Other Expenses are net of
 recoveries for common cost from Reliance Communications Infrastructure
 Limited, Reliance Infratel Limited and Reliance Big TV Limited (Refer
 Note 26, Schedule Q).
 
 10 Financial Guarantee issued includes Rs. 69.80 crore to Reliance
 Globalcom BV (Previous year - Rs. 69.80 crore to Reliance Globalcom BV).
 
 11 Corporate Guarantee issued includes Rs. 188.64 crore to Reliance
 Infratel Limited, Rs. 79.92 crore to Gateway Net Trading Pte.  Limited, Rs.
 749.38 crore to Reliance Telecom Limited and Rs. 93.83 crore to Reliance
 Big TV Limited (Previous year - Corporate Guarantee issued include Rs.
 934.28 crore to Reliance Infratel Limited, Rs. 330.18 crore to Gateway
 Net Trading Pte. Limited, Rs. 949.25 crore to Reliance Telecom Limited).
 
 12 Finance Charges includes Rs. 594.63 crore received from Reliance
 Infratel Limited, and Rs. 47.84 crore from Reliance Telecom Limited
 (Previous year - Finance Charges include Rs. 326.20 crore from Reliance
 Infratel Limited and Rs. 230.96 crore from Reliance Telecom Limited, Rs.
 6.03 crore to Reliance Webstore Limited).
 
 13 Interest Receivable includes Rs. 670.27 crore from Reliance Infratel
 Limited and Rs. 47.84 crore from Reliance Telecom Limited (Previous year
 -Interest Receivable include Rs. 326.20 crore from Reliance Infratel
 Limited and Rs. 230.96 crore from Reliance Telecom Limited)
 
 14 Investments include conversion of Loans into Preference Shares
 during the year Rs. 2,500 crore of Reliance Infratel Limited and
 conversion of Preference Shares of Rs. 2,275.66 crore of Reliance
 Globalcom BV into Equity Shares. Redemption of Preference Shares during
 the year includes Rs. 1,527.68 crore of Reliance Globalcom BV and Rs.
 763.67 crore of Reliance Globalcom Limited Bermuda. (Previous year
 Investments include Rs. 1,500 crore of adjustment of Loans into
 Preference Shares of Reliance Infratel Limited and Rs. 100 crore
 purchased of Reliance Wimax Limited. Redemption of Preference Shares
 include Rs. 791.90 crore of Reliance Globalcom BV, Rs. 126.80 crore of
 Gateway Net Trading Pte. Limited and Rs. 148.09 crore of Reliance
 Globalcom Limited, Bermuda).
 
 15 Unearned income includes Rs. 14.94 crore from Flag Telecom Ireland
 Network Limited and Rs. 3.56 crore from Reliance FLAG Atlantic France SAS
 (Previous year- Unearned Income includes Rs. 15.82 crore from Flag
 Telecom Ireland Network Limited and Rs.  2.97 crore from Reliance FLAG
 Atlantic France SAS).
 
 16 Prepaid expense includes Rs. 10.39 crore from Reliance FLAG Atlantic
 France SAS (Previous year-Prepaid expenses includes Rs.  11.77 crore from
 Reliance FLAG Atlantic France SAS).
 
 17 Refer Note 5, Schedule Q relating to the Scheme of Amalgamation of
 GISPL, Wholly a Owned Subsidiary with the Company.