1.  Contingent liabilities not provided for in respect of :
 
 (a) Bank Guarantee outstanding Rs. 26,20,59,274 (Previous Year Rs.
 41,29,62,403)
 
 (b) Disputed Excise duties, Sales / VAT taxes liability Rs.1,88,03,777
 (Previous year Rs. 3,21,97,554).
 
 (c) Bonds executed by the company to custom department against
 fulfilment of export obligation under 5% EPCG Scheme Rs.  33,25,45,469
 (Previous year Rs. 32,08,19,889).
 
 (d) Disputed ESI liability Rs. 34,55,828 (Previous year Rs. 34,55,828).
 
 (e) Disputed demand of Uttaranchal Power Corporation Rs. 41,27,000
 (Previous year Rs. 41,27,000).
 
 (f) Corporate Guarantee(s) of Rs. 90 Crores in favour of PNB and Rs. 45
 Crores in favour of SBI for providing term loans to Surya Global Steel
 Tubes Limited, a subsidiary of the Company (Previous Year Rs. 90 Crores
 and 45 Crores)
 
 2.  Estimated amount of contracts remaining to be executed on capital
 account (less advances) Rs. 2,50,97,765 (Previous year – Rs.
 9,30,09,604 )
 
 3.  Consequent upon opting for Central Excise exemption w.e.f.
 02-01-2006 based on Notification No. 50/2003 dated 10-06-2003, cenvat
 credit of Rs.1,34,61,135/- was claimed on account of input credits by
 Kashipur Factory and the same shall be recognised in the year in which
 the matter will be finally settled by the appropriate authorities.
 
 4.  Revaluation Reserve
 
 The land has been revalued as on 31st March, 2011.The book value of the
 land was Rs. 22,91,49,151 and it has been revalued at Rs. 208,08,87,024
 resulting an increase in the book value by Rs. 185,17,37,873 which had
 been transferred to revaluation reserve.
 
 5.  The Company has amounts due to Micro and Small Enterprises under
 the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED
 Act).
 
 Note.  The information has been given in respect of such suppliers to
 the extent they could be identified as“ Micro and Small” enterprises on
 the basis of information available with the Company.
 
 6.  Company had outstanding 45,70,000 Optionally Convertible Warrants
 (Series 1) as on 31st March, 2010. Further during the year, consequent
 to the shareholders'' approval in the Extra Ordinary General Meeting ,
 the Company has issued 1,14,30,000 optionally convertible warrants
 (series 2) on preferential basis of Rs. 10/- each at premium of Rs.
 73/- per warrant to Promoter and Promoter Group. For the said
 1,14,30,000 warrants, the Company has received the 25% upfront money on
 12th July,2010 amounting to Rs.  23,71,72,500/- Furthermore, 45,70,000
 outstanding warrants and 1,14,30,000 warrants have been converted into
 Equity Shares on 22nd October, 2010, and 75% amount due on allotment of
 45,70,000 equity shares amounting to Rs. 20,22,22,500/- and on
 1,14,30,000 equity shares amounting to Rs. 71,15,17,500 have been duly
 received towards 1,60,00,000 equity shares to the applicants of Series
 1 and Series2 respectively.
 
 Further during the year, consequent to the shareholders'' approval in
 the Extra Ordinary General Meeting , the Company has issued 54,75,000
 optionally convertible warrants (Series 3) on preferential basis of Rs.
 10/- each at premium of Rs. 101/- per warrant to Promoter and Promoter
 Group. For the said 54,75,000 warrants, the Company has received the
 25% upfront money on 30th November, 2010 amounting to Rs.
 15,19,31,250/-. The said 54,75,000 warrants are outstanding for
 conversion into equity shares as on 31st March, 2011.
 
 7. Segment information for the year ended 31st March, 2011 and 31st
 March, 2010
 
 The company has identified the following three Primary Business
 Segments :
 
 1.  Steel       - Engaged in the production of Steel Tubes & Pipes 
                   and Cold Rolled Strips
 
 2.  Lighting    - Engaged mainly in the manufacture of different 
                   varieties of Lamps & related products
 
 3.  Real Estate - Engaged mainly in the development & trade in Real
                   Estate Secondary Segment reporting has been 
                   performed on the basis of Geographical Locations.
 
 8. Related party disclosures
 
 Related party disclosures as required under Accounting Standard on
 “Related Party Disclosures” issued by the Institute of Chartered
 Accountants of India are given hereunder : 
 
 A.  Relationship :
 
 i) Subsidiary Company
 
 - Surya Global Steel Tubes Ltd.  
 
 ii) Associates
 
 1.   Surya Global Steel & Gen Power Limited
 
 2.   Surya Global Cement Limited
 
 3.   Surya Global Infrastructure Limited
  
 4.   Surya Roadlink and Infra Limited
 
 5.   Surya Vijay Nagar Steel & Power Limited
 
 6.   Surya Vijay Nagar Cement Limited
 
 7.   Surya Chhatisgarh Steel & Power Limited
 
 8.   Surya Chhatisgarh Power Limited
 
 9.   Surya Gujarat Power Limited
 
 10.  Surya Shimoga Lighting Limited
 
 11.  Surya Manufacturing India Limited 
 
 12.  Surya Shimoga Steel Pipes Limited
 
 
 iii) Key Management Personnel
 
 - Sh. J.P Agarwal 
 
 iv) Relatives of the Key Management Personnel
 
 Relation         Sh. J.PAgarwal
 
 Spouse           Smt. Urmil Agarwal 
 
 Son(s)           Sh. Vinay Surya 
 
 Daughter(s)      Smt. Padmini & Smt. Bharti
 
 Brother(s)       Sh. V P Agarwal
 
 Sister(s)        Smt. Sudha Gupta
 
 Mother           Smt. Ganga Devi Agarwal
 
 Father           Sh. B D Agarwal
 
 
 iii) Key Management Personnel & their Relatives : 
 
 Remuneration for the year 2010-2011 :
 
 - Sh. J.P.Agarwal (Chairman & Managing Director)  Rs. 1,48,60,200
 
 Sitting Fees for the year 2010-2011 
 Smt. Urmil Agarwal (Director)                           Rs.35,000/-
 
 9. (a) Previous year figures have been regrouped and rearranged
 wherever necessary.  
 
 (b) Figures have been rounded off to the nearest rupee.