i) Term Loans from banks
 
 Rs 90 crores from Housing Development Finance Corporation Limited
 secured by first charge on all assets of Taj Krishna & Taj Deccan is
 repayable in 32 equal instalments after 2 years from date of each
 disbursement. First instalment payable in June 2012. Interest at a
 weighted average rate of 11.15% p.a with an annual reset clause
 
 Rs 72 crores from HDFC Bank Ltd secured by first charge on all assets of
 Taj Club House, Chennai is repayable in 32 equal instalments after 2
 years from date of each disbursement. First instalment payable in June
 2012. Interest at a weighted average rate of 11.40% p.a with an annual
 reset clause
 
 ii) Loans from related parties
 
 Rs 5 crores from The Indian Hotels Company Limited repayable in July
 2013. Interest at a rate of 7% p.a
 
 i) Secured loans - Bank overdraft
 
 Rs 6,60,64,046/- from Hongkong and Shanghai Banking Corporation Ltd
 secured by first charge on all assets of Taj Chandigarh at an interest
 rate of 10.75% p.a
 
 Rs 2,71,33,594/- from IDBI Bank Ltd secured by hypothecation of
 Operating Supplies, Stores, Food & Beverages and Receivables at an
 interest rate of 12.25% p.a
 
 ii) Unsecured loans
 
 Loan from the Bank of Nova Scotia for a tenure of 67 days from the
 drawal date at an interest rate of 11.90% p.a
 
 i) The Non-Trade Unquoted Investment are made in a company with which
 the Company entered into a power purchase agreement for supply of 3
 million units of power or 5.65% of its actual generation whichever is
 less in order to comply with regulatory requirement for supply of such
 power.
 
 ii) The Company has acquired 1,58,00,000 Equity Shares (21.06% of total
 shares issued) of Rs10/- each (Rs3/- paid up) of Greenwoods Palaces &
 Resorts Pvt Ltd from M/s Greenridge Hotels and Resorts Pvt Ltd at a
 premium of Rs 20/- per share. The Company is setting up a 5 Star Deluxe
 (Luxury category) Hotel Project comprising of 275 rooms near Terminal
 1C, Santacruz, Mumbai at Mumbai International Airport, under the ''TAJ''
 brand with M/s. Greenridge Hotels & Resorts Private Limited (a GVK
 Company) through its SPV M/s. Green Woods Palaces & Resorts Private
 Limited. As per the MOU signed with M/s Greenridge, the Company is
 entitled to acquire upto 49% stake in the SPV. As per the conditions of
 the share holders'' agreement, the same is treated as a jointly
 controlled entity as per the Accounting Standards in vogue.
 
 1.  Contingent liabilities not provided for in respect of :
 
                                                          (Rs in lacs)
 Sl.  Particulars                                    As at       As at
 No.                                             31-03-2012   31-03-2011
 
 i.   Sales Tax matters                            169.45        169.45
 
 ii.  Income Tax matters                             7.60         86.41
 
 iii. Service Tax matters                           23.65         23.65
 
 iv.  Excise duty                                    3.21             -
 
 v.   Probable customs duty payable on the 
      Equipment Imported under Export Promotion 
      Capital Goods Scheme                         487.18        613.74
 
 vi.  Letters of Credit                                 -        224.31
 
 vii. Bank Guarantees - Others                     153.26        140.43
 
 viii.Estimated amount of contracts remaining 
      to be executed on capital account.           274.10       2422.66
 
 ix.  Telephone charges in dispute with BSNL        13.73         13.73
 
 2. Deposits recoverable under Loans and Advances include the following
 paid under protest:
 
 i) Rs 83.84 lacs paid under the VAT Act pertaining to financial years
 2005-06 to 2008-09.
 
 3.  Other Commitments: The uncalled liability on account of
 acquisition of 1,58,00,000 shares of Rs10/- each of Greenwoods Palaces &
 Resorts Pvt Ltd, Rs 11,06,00,000/-
 
 4.  i) Disclosure of Trade Payables under Current Liabilities is based
 on the information available with the Company regarding the status of
 the suppliers as defined under the Micro, Small and Medium Enterprises
 Development Act, 2006 and relied upon by the Auditors.
 
 ii) Details of total outstanding dues to Micro and Small Enterprises as
 per MSMED Act, 2006:
 
 5.  The Executive Chairman and Managing Director are entitled to
 commission @ 1% each of Net Profits computed in accordance with Section
 349 of the Companies Act, 1956 after tax. Due to inadequacy of the
 profits no commission was provided for the year and the Company is in
 the process of submitting an application to the Central Government for
 approval of minimum remuneration as per the terms of appointment.
 
 6.  Disclosure of interest in jointly controlled entities:
 
 i) The Company holds 21.06% (Previous year NIL) of the total share
 capital of M/s Greenwoods Palaces & Resorts Pvt Ltd (Greenwoods), which
 is incorporated in India.
 
 ii) The share of contracts to be executed on capital account of the
 Company in Greenwoods is Rs 775.34 lacs as of 31.03.2012.
 
 7.  In the opinion of the Board of Directors of the company, the
 current assets, loans and advances are expected to realise in the
 ordinary course of business approximately the value at which they are
 stated in accounts.
 
 8.  Previous Year''s figures have been regrouped / rearranged, wherever
 necessary. Figures in brackets indicates those for previous year.