1(a The Company has only one class of equity shares having a par
 value of Rs.2/- per share. Each shareholder is eligible for one vote
 per share. The dividend proposed by the Board of Directors is subject
 to the approval of shareholders, except in case of interim dividend. In
 the event of liquidation, the equity shareholders are eligible to
 receive the remaining assets of the Company after distribution of all
 preferential amounts, in proportion to their shareholding.
 
 NATURE OF SECURITY
 
 Term loan amounting to Rs. NIL (March 31, 2011: Rs.  1406.25 lacs) is
 secured by Exclusive first charge on specific equipment.
 
 Term loan amounting to Rs. 260.00 lacs (March 31, 2011: Rs. 390.00
 lacs) is secured by Exclusive first charge on specific equipment.
 
 Term loan amounting to Rs. 2175.00 lacs (March 31, 2011: Rs. NIL) is
 secured by Exclusive first charge on specific equipment.
 
 Term loan amounting to Rs. NIL (March 2011: Rs.  290.90 lacs) is
 secured by Equitable Mortgage on Manesar Land 6t Bldg., Personal
 Gurarantee of Mr Ramesh Suri & specific assets.
 
 Term loan amounting to Rs. 3186.03 lacs (March 2011: Rs. 4602.05 Lacs)
 is secured by Equitable Mortgage on Manesar Land fit Bldg., Personal
 Gurarantee of Mr Ramesh Suri & specific assets.
 
 Term loan amounting to Rs. 1400.00 lacs (March 2011: Rs. Nil) is
 secured by is secured by Equitable Mortgage on Manesar Land & Bldg.,
 Personal Gurarantee of Mr Ramesh Suri & specific assets.
 
 Term loan amounting to Rs. 577.00 lacs (March 31, 2011: Rs. 865.50
 Lacs) is secured by Exclusive first charge on specific equipment
 
 Term loan amounting to Rs. 376.87 lacs (March 31, 2011: Rs. Nil) is
 secured by Exclusive first charge on specific equipment
 
 Term loan amounting to Rs. 5582.50 lacs (March 31, 2011: Rs. Nil) is
 secured by Exclusive first charge on specific equipment
 
 Vehicle loan amounting to Rs. 52.21 lacs (March 31, 2011: Rs 116.53
 lacs) is secured by Hypothecation on specific vehicles
 
 TERMS OF REPAYMENT
 
 Repayment in 16 quarterly installments (@ 140.62 lacs each) commencing
 from December 2010. Last installment in September 2014. Rate of interest
 12.07% P.A. as at year end. (Previous year 8.75% P.A.)
 
 Repayment in 20 quarterly installments (@ 32.50 lacs each) commencing
 from June 2010. Last installment in September 2014. Rate of interest
 11.90% P.A. as at year end. (Previous year 9.00% P.A.)
 
 Repayment in 16 quarterly installments (@ 181.25 lacs each) commencing
 from June 2012. Last installment in March 2016. Rate of interest 11.90%
 P.A. as at year end. (Previous year NA %P.A.)
 
 Repayment in 11 quarterly installments (@ 290.91 lacs each) commencing
 from December 2009. Last installment in June 2012. Rate of interest
 9.00% P.A.  as at year end. (Previous year 9.00% P.A.)
 
 Repayment in 16 quarterly installments (@ 354.00 lacs each) commencing
 from Aug 2010. Last installment in May 2015. Rate of interest KBR  
 0.075% P.A. as at year end. (Previous year KBR   0.075% P.A.)
 
 Repayment in 36 monthly installments (@ 58.33 lacs each) commencing from
 April 2012. Last installment in March 2015. Rate of interest KBR 1% P.A.
 as at year end. (Previous year N.A.)
 
 Repayment in 16 quarterly installments (@ 72.13 lacs each) commencing
 from June 2011. Last installment in March 2015. Rate of interest 11.77%
 P.A. as at year end. (Previous year 11.77% P.A.)
 
 Repayment in 16 quarterly installments (@ 41.87 lacs each) commencing
 from Aug 2011. Last installment in February 2015. Rate of interest
 11.77% P.A. as at year end. (Previous year N.A.)
 
 Repayment in 16 quarterly installments (@ 348.91 lacs each) commencing
 from June 2013. Last installment in March 2017. Rate of interest 9.70%
 P.A. as at year end. (Previous year N.A.)
 
 Repayment in 84 equated Monthly commencing from October, 2007. Rate of
 interest 8.50% P.A.
 
 1  Contingent Liabilities Not Provided For in respect of:
 
 a) Net Outstanding commitments against Letter of Credits established by
 the Company: Rs.8956.50 lacs (Previous Year Rs.6,537.80 lacs)
 
 b) Guarantees given by banks on behalf of the Company: Rs 355.66 lacs
 (Previous Year: Rs. 458.08 lacs)
 
 c) Claims against the company not acknowledged as debt :-
 
 2  Estimated value of contracts on capital account remaining to be
 executed and not provided for (net of advances): Rs.5051.64 lacs
 (Previous Year: Rs.6,382.66 lacs).
 
 3  In the opinion of Board, the value on realisation of current
 assets, loans and advances in the ordinary course of business shall not
 be less than the amount at which they are stated in the balance sheet
 and provision for all known liabilities has been made and contingent
 liabilities disclosed properly.
 
 * Including Raw Materials/Components consumed for production of Fan
 Motor Assembly.
 
 ** It is not practical to furnish quantitative information of
 individual component consumed in view of the considerable number of
 items.
 
 4.  The company has identified that there is no material impairment of
 assets and as such no provision is required in terms of Accounting
 Standard-28 issued by the Institute of Chartered Accountants of India.
 
 5.  Segment Reporting
 
 The Company''s business activity falls within a single primary business
 segment i.e, Automotive Air conditioning Systems (with or without Fan
 Motor Assembly) and parts thereof. Export sales constitute an
 insignificant portion of the total business of the company. Hence,
 there is no geographical segment as well. Therefore, the disclosure
 requirements of Accounting Standard - 17 on ''Segment Reporting'' issued 
 by the Institute of Chartered Accountants of India are not applicable.
 
 6.  Related Party Disclosures
 
 In terms of Accounting Standard - 18 issued by the Institute of
 Chartered Accountants of India, the particulars of transactions with
 related parties are given as under:
 
 a) Name of related parties and description of relationship (as
 certified by the management & relied upon by the auditors):-
 
 i) Key Management Personnel
 
 - Mr. Ramesh Suri, Chairman
 
 - Ms. Shradha Suri, Managing Director (Daughter of Mr. Ramesh Suri)
 
 ii) Relatives of Key Management Personnel
 
 - Mrs. Ritu Suri (Wife of Mr. Ramesh Suri)
 
 iii) Subsidiary Company
 
 - Thai Subros Ltd., Thailand
 
 iv) Joint Venture Company
 
 - Denso Subros Thermal Engineering Centre India Ltd. (DSEC)
 
 v) Entities over which Key Management Personnel or their relatives are
 able to exercise significant influence: , ,
 
 - SHS Transport (P) Ltd.
 
 - Rohan Motors Limited
 
 - Hemkunt Service Station (P) Ltd.
 
 - Tempo Automobiles (P) Ltd.
 
 - M/s. Ramesh Suri (HUF)
 
 - Prima Telecom Ltd.
 
 - Fibcom India Ltd.
 
 7.  Foreign Exchange Differences
 
 a) The company has entered into foreign exchange forward contracts to
 partly hedge its risks associated with the foreign currency
 fluctuations relating to firm commitments.
 
 8.  Research & Development Expenses
 
 a) The company has an In house R & D Centre, approved by the Department
 of Scientific and Industrial Research, Ministry of Science &
 Technology, Govt, of India. The detail of revenue expenditure /income
 incurred/earned during the year by the said R & D Centre and charged to
 Statement of Profit & Loss Account or capitalized/ to be capitalized is
 as under:-
 
 b) Other expenditure on Research & Development activities charged to
 statement of Profit & loss:- Rs: Nil (Previous Year: Rs. 1.92 lacs)
 
 c) Provision for taxation has been made after taking into account the
 benefit available on expenditure incurred on R & D Centre. Such
 expenditure are subject to approval of appropriate authorities.
 
 9.  Borrowing cost amounting to Rs. 389.25 lacs (Previous Year: 257.56
 lacs) has been capitalised with the cost of fixed assets as per
 Accounting Standard 16 issued by Institute of Chartered Accountant of
 India.
 
 10.  Employees Benefits
 
 As per Accounting Standard 15 Employee Benefits, the required
 disclosures of Employee Benefits to the extent applicable to the
 company are given below:
 
 Defined Benefit Plan
 
 The employees'' gratuity fund scheme managed by a Trust is a defined
 benefit plan. The present value of obligation is determined based on
 actuarial valuation using the Projected Unit Credit Method, which
 recognizes each period of service as giving rise to additional unit of
 employee benefit entitlement and measures each unit separately to build
 up the final obligation. The obligation for leave encashment is
 recognized in the same manner as gratuity.
 
 The estimates of rate of escalation in salary as considered in
 actuarial valuation, take into account inflation, seniority, promotion
 and other relevant factors including supply and demand in employment
 market. The above information is certified by the actuary.
 
 The expected rate of return on plan assets is determined considering
 the LIC''s policy for plan assets management.
 
 11.  As informed there was no supplier who was registered under The
 Micro, Small and Medium Enterprises (Development) Act, 2006.
 
 12.  Balance confirmations have not been received from some of the
 parties showing debit/credit balances.
 
 13.  The Financial statements for the year ended March 31,2011 had been
 prepared as per the then applicable pre revised Schedule VI of the
 Companies Act, 1956, The financial statements for the year ended on
 March 31, 2012 are prepared under revised Schedule VI. Accordingly, the
 previous year figures have also been reclassified to conform to this
 year''s classification.