(1) During the year the company has set up a unit in Special Economic
 Zone (SEZ) at Surat. All the expenditure pertaining to this unit till
 the date it commenced commercial activities have been capitalised to
 fixed assets and depreciation on fixed assets has been calculated
 accordingly.
 
 
 
 
 (2) Contingent Liabilities                         (Rs.in Lacs)
 
                                                   2010-11     2009-10
 
 (a)  Claims against the Company not 
      acknowledged as debt                          11.05       11.18
 
 (b)  Demand on account of sales tax assessment 
      raised against the company for the various 
      years but the same is not acknowledged
      as debt hence, not provided for. Appeals
      are pending                                2,254.10        5.33
 
 (c)  Demand under disputed central excise 
      matter, Appeals are being filed              242.50         --
 
 The contingent liability towards sales tax is Rs. 2,254.10 lacs (previous
 year Rs. 5.33 lacs). The amount of Rs. 2,246.57 lacs (out of Rs. 2,254.10
 lacs) is demand raised during the year by the Sales Tax department,
 Gujarat for the years, 1993-94, 1994-95, 1995-96, 1997-98 and
 1999-2000. This is on account of Sales Tax department, Gujarat,
 treating branch transfer and sales outside Gujarat as local sales, for
 lack of F and C forms. These forms have been completely destroyed
 alongwith other records as they were kept in basement storage, which
 was flooded during the heavy rain of 20 on July 13, 2000 in Ahmedabad.
 This demand is despite the company having paid sales tax in respective
 states on such branch transfers and sales out of Gujarat. The
 Government of Gujarat has issued a letter dt. 18.10.2005 to the
 Commissioner of Sales Tax to grant relief for records destroyed in this
 instance. Hon''ble Commissioner of Sales Tax has granted administrative
 relief in the past in cases of such calamities. The matter is now
 pending before the appellate authority. As advised by legal counsel,
 considering the merits of the case, no provision is required to be made
 in the books of accounts.
 
 The company''s VAT/Sales tax assessments in the state of Gujarat are
 completed up to the year 2006-07. There is no other pending demand for
 any year in Gujarat state except above.
 
 (3) Segment Reporting
 
 (a) Primary Segment : Business
 
 The company is operating in only one segment i.e. Home Appliances.
 Therefore reporting on primary segment is not considered.
 
 (4) Subsidiaries
 
 Following are the subsidiaries and step down subsidiaries of the
 Company:
 
 i) Symphony Aircoolers Inc, USA (Subsidiary)
 
 ii) Sylvan Holdings Pte. Ltd., Singapore (Subsidiary)
 
 iii) IMPCO S DE RL DE CV, Mexico (Subsidiary of Subsidiary)
 
 iv) IMPCO Air Coolers INC, USA (Subsidiary of Subsidiary)
 
 (5) Employee Benefits
 
 The present value of gratuity and leave encashment obligations is
 determined based on actuarial valuation using the projected unit credit
 method, which recognises 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.
 
 (6) Leave encashment
 
 As per policy followed by the Company there is no vesting benefit of
 leave encashment at the end of the year.  Therefore there is no
 liability of leave encashment existing at the end of the year.
 Accordingly no provision is made for leave encashment.
 
 (7) There are no Micro and Small Enterprises, to whom the Company owes
 dues, which are outstanding for more than 45 days as at 30th June,
 2011. This information as required to be disclosed under the Micro,
 Small and Medium Enterprises Development Act, 2006 has been determined
 to the extent such parties have been identified on the basis of
 information available with the Company.
 
 (8) In the opinion of the board, Current Assets, Loans and Advances
 are approximately, stated at the value, if realised in ordinary course
 of business. Provisions for all known liabilities are provided for in
 full and the same are adequate and not in excess of the amount
 considered as reasonably necessary.
 
 (9) Previous year figures have been rearranged/ regrouped wherever
 necessary to make them comparable with the figures of the current year.