(Rs.in Million)
 
 1.  Contingent Liabilities not provided 
     for in respect of: 
 
                                           As at                   As at
 
                                    31st Dec., 2011      31st Dec., 2010
 
 a) Letters of Guarantees                     56.42                56.92
 
 b) Letters of Credit opened                 758.92               542.09
 
 c) Customs Duty demands and 
 penalty under dispute                         8.09                 8.09
 
 d) Excise Duty demands under dispute          4.26                 1.56
 
 e) Service Tax demands under dispute          8.04                 7.88
 
 f) Sales Tax demands under dispute 
 (Amount paid under protest Rs 7.15
 Million, Previous period Rs 1.14 Million)    95.78                35.75
 
 2.  The Company is a Co-guarantor in respect of borrowings of group
 companies. The aggregate amount of said guarantees, extended along with
 8 other Co-guarantors are Rs 8,311.10 Million (Previous period Rs
 9,056.00 Million). The said guarantees are extended on the basis of
 support in the form of undertaking provided by certain other group
 companies to the extent of the amount of the guarantees. Further, the
 Company is a Co-guarantor along with 14 other Co-guarantors in respect
 of borrowings of group companies amounting to Rs 3,500.00 Million
 (Previous period Rs 3,500.00 Million).
 
 3.  Secured Loans:
 
 a) Working Capital Loans from Banks are secured against hypothecation
 of the Company''s stock of raw materials, packing materials,
 stock-in-process, finished goods, stores and spares, book debts and all
 other current assets of the Company and personal guarantees of Mr.
 Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot.
 
 b) Vehicle Loans from Banks are secured by way of hypothecation of
 vehicles acquired out of the said loan.
 
 4.  The Company has availed interest free Sales Tax Deferral under
 package incentive scheme of 1993. The sales tax collected during the
 deferral period is payable in five annual installments, after
 completion of ten years from the year in which the tax was collected.
 The next such installment is due on 1st May, 2012.
 
 5.  The Company has made a provision of Rs 10.20 Million towards current
 Income Tax (Previous period Rs 53.10 Million), after taking into
 consideration, the benefits admissible under the provisions of the
 Income Tax Act, 1961 and the same is, in the opinion of the Management,
 adequate.
 
 6.  The Minimum Alternate Tax (MAT) paid by the Company is entitled to
 be carried forward and utilized in subsequent years. In the opinion of
 the Management, on the basis of projections and the estimates of future
 taxable income, the Company would have normal tax liability within the
 specified period to avail such MAT credit. Consequently, the Company
 has recognized the MAT credit entitlement of Rs 10.13 Million in respect
 of current year (Previous period Rs 17.18 Million).
 
 7.  Estimated amounts of contracts remaining to be executed on capital
 account and not provided for (net of advances) Rs 2.36 Million (Previous
 period Rs 5.14 Million).
 
 8.  Capital Work-in-Progress includes advances for capital assets of Rs
 1.22 Million (Previous period Rs 3.57 Million).
 
 9.  The Company is primarily engaged in manufacturing of Electrical and
 Electronic Appliances and there is no other reportable segment as
 defined in Accounting Standard 17 on Segment Reporting.
 
 10.  The Balance of some of the Debtors, Creditors, Deposits, Advances
 and Other Current Assets/Liabilities are subject to confirmation.
 
 11.  There are no amounts due and outstanding, to be credited to
 Investor Education and Protection Fund.
 
 12.  In the opinion of the Board, the value on realization of Current
 Assets, Loans and Advances in the ordinary course of the business would
 not be less than the amount at which they are stated in the Balance
 Sheet and the provision for all known and determined liabilities is
 adequate and not in excess of the amount reasonably required.
 
 Note: The information as required to be disclosed under the Micro,
 Small and Medium Enterprises Development Act, 2006, has been determined
 to the extent of such vendors/parties identified from the available
 information.
 
 13.  Employee Benefits:
 
 i) Defined Contribution Plans:
 
 Amount of Rs 8.01 Million (Previous period Rs 9.30 Million) is recognised
 as an expense and shown under the head Salary, Wages and Employees
 Benefits (Schedule-11) in the Profit and Loss Account.
 
 * It is not practicable to furnish quantitative information of
 components consumed in view of considerable number of items, of diverse
 in size and numbers.  Note: The industrial licensing has been abolished
 in respect of products of the Company.
 
 14. The figures for the current year are for a period of 12 months as
 against 15 months in previous period and hence, are not comparable.
 Figures in respect of previous period have been regrouped, reclassified
 and recanted wherever necessary to make them comparable with those of
 current year.