Rs. In lacs
 
 A Contingent Liabilities not 
   Provided for                       As On March 
                                      31, 2011        As On March 
                                                      31,  2010
 
 I Guarantee issued by the Banks 
   on Behalf of the Company           12,126.32       9,192.81
 
 II Claims againstthe Company 
    not acknowledge as debt.             -               23.94
 
 III The Company on 3rd April, 2010 has given a Corporate Guarantee to
 M/s. Axis Trustee Services Limited acting as the Debenture Trustee of
 M/s. Beeta Infocom Pvt. Ltd. in terms of its issue of Non Convertible
 Debentures (NCDs) aggregating to Rs. 119 crores outstanding as on 31st
 March, 2011, for duly and timely payment of its obligations under the
 Issue. Also, the Company had issued a Corporate Guarantee on 18th May,
 2009 in favour of M/s. Cisco Systems Capital India Pvt. Ltd (the
 Lendor) for guaranteeing the monetary obligations w.r.t. loan availed
 by its wholly owned subsidiary i.e M/s.Tulip SWAN IT Services Limited
 from the Lendor.
 
 B Foreign Currency Convertible Bonds (FCCB)
 
 USD 0 Million Zero Coupon Foreign Currency Convertible Bonds During
 the year 2007-08, the Company issued at par 5 year, Zero Coupon Foreign
 Currency Convertible Bond (FCCB) at an Exercise Price of Rs.  227.444
 per share (Rs. 1137.22 per share before split of share into 1:5)
 aggregating to US$ 150 Million (Rs. 60,405 lacs as on the date of
 issue) for financing Capital Expenditures, Overseas Acquisitions and
 other expenditure as per RBI Regulation. As per terms and conditions of
 the Offering Circular issued by the Company for FCCB, the bonds are
 convertible by holders of the Bond (the Bondholders) into fully paid
 equity shares of the Company with full voting rights
 
 with par value of Rs. 21- per share (Rs. 10/- per share before split of
 share into 1:5) of the Company (the shares) at any time on or after 5th
 September, 2007 (or such earlier date as is notified to the Bondholders
 by the Company) and prior to the Close of the business on 19th August,
 2012 unless previously redeemed, converted or repurchased and
 cancelled.
 
 The Bond may redeemed in cash in whole, but not in part, at their Early
 Redemption Amount, at the option of the Company at any time on or after
 26th August, 2010 and on and prior to 19th August, 2012, subject to
 satisfaction of certain conditions. These bonds are redeemable at
 144.506% of the principal amount on 26th August, 2012 unless previously
 converted, redeemed or purchased and cancelled.
 
 The Company has incurred an expenditure of Rs. 1467.70 lacs towards
 issue expenses of these bonds. These expenses have been charged to the
 securities premium account as provided under section 78 of the
 Companies Act, 1956.  Out of the proceeds of the bond issue, Rs. Nil
 (Previous year Rs. 68.11 lacs(equivalent to US$ 0.15 Millions)) is
 lying infixed deposits at March 31st, 2011 in foreign currency with
 Bank of India, London.
 
 The Company has repurchased and cancelled Bonds aggregating to USD
 52.999 Million under the Automatic Route, in accordance with the
 guidelines issued by the RBI. As on the balance sheet date the
 Company''s liability with regard to FCCB has reduced to USD 97.001
 million, therefore now upon conversion of bonds number of shares to be
 issued are reduced to 17,460,185 equity shares (3,492,037 equity shares
 before split of share into 1:5).
 
 C Employees Stock Option Scheme
 
 Consequent to shareholders approval on the Company''s Employees Stock
 Option Scheme TULIP ESOS 2011, the Compensation Committee of the
 Board of Directors at their meeting held on February 14, 2011, have
 granted 27,00,000 stock options convertible into equal number of equity
 shares of Rs.2 each to the eligible employees to be vested over a
 period of four years at an exercise price of Rs. 164.55, determined as
 per the SEBI guidelines.
 
 D.  Derivative Instrument
 
 The Company has outstanding foreign exchange forward contract of US5
 million (Previous year US5 million) as at 31st March 2011, for
 hedging its exposure in respect of highly probable forecast transaction
 relating to foreign currency convertible bonds(FCCB) liability.
 
 G In the opinion of the management and to the best of their knowledge
 and belief the realisable value of current assets, loans and advances
 if realised in ordinary course of business would not be less than the
 amount at which they are stated in the balance sheet. The Company has
 filed suits for recovery of debt against certain clients but relying on
 the opinion of the advocates these have been considered as fully
 realisable. Out of book debt outstanding for period more than six
 months, Rs. 60 crore of book debt pertains to Beeta Infocom Pvt. Ltd.
 on account of assignment of receivables related to SWAN projects on the
 basis of percentage completion method, however actual billing milestone
 to end client has not yet been reached.
 
 H The Company had no amounts payable to Micro, Small and Medium
 Enterprise Suppliers as defined under section 7 of the Micro, Small and
 Medium Enterprises Development Act, 2006. The identification of Micro,
 Small and Medium Enterprise Suppliers is based on management''s
 knowledge of their status.
 
 P The Company operates in single segment i.e., ''Telecom'' and therefore
 segment reporting is not applicable. The Company''s own generated
 products and services are sold primarily within India and as such there
 are no reportable geographical segment.