1) Contingent Liabilities:
 
 (a) Guarantees and Statutory Dues:                          Rs Million
 
 Sr.  Particulars                          Current year   Previous year 
 No.
 
 i Bank Guarantees / Counter Guarantees 
 issued and Letters of Credit outstanding
  (Bank Guarantees are secured by 
 Charge on Fixed Assets and
 Current Assets of the Company.)               6,709.97       2,083.29
 
 ii Bills discounted                             122.46          90.14
 
 iii Corporate Guarantees / Counter Guarantees
 
 — Group Company                               1,060.00       2,160.00
 
 — Government of India( Customs)                  54.31              —
 
 — Others                                         50.25          15.32
 
 iv Sales tax demands of various years 
 in different states ,under appeal               165.71         157.35
 against which Rs. 0.70 Million 
 ( Previous year - Rs. 0.70 Million) has
 been paid and included under Other 
 Deposits.  Company''s Sales Taxes
 assessments are pending in various 
 states.  The additional liability,
 if any, on completion of assessments, 
 if accepted, will be considered
 in accounts.
 
 v Claims against the Company not 
 acknowledged as debts.                           85.00          82.83 
 
 vi Overseas Tax Demands under appeal 
 (hedged to the extent                            44.56          42.82
 Retention amounting to Rs. 24.70 
 Million (Previous Year Rs.
 23.74Million)).
 
 vii Disputed Income Tax Demand under appeal       5.42          31.18
 
 Full provision is not considered, with regard to disputed Sales Tax /
 Income Tax demands pending in various states , as the management is of
 the view that demands are not sustainable and hence rib provision is
 presently considered necessary.
 
 b) The re-opening of the assessment for the assessment year 1995-96 has
 been questioned on appeal at various stages. The company approached for
 a settlement under KVSS and deposited Rs. 11.00 Million (Previous year
 - Rs. 11.00 Million), which is included under loans and advances. As
 per directives of the Appellate Authority, the matter has been remitted
 to the assessing officer for re-doing the assessment.
 
 c) The Company had filed arbitration proceedings against Bharat Heavy
 Electricals Limited (BHEL) in the year 2003 to recover Rs. 366.35
 Million (Previous year - Rs. 366.35 Million) with interest, against
 which BHEL had filed counter-claims of Rs. 607.47 Million (Previous
 year - Rs. 607.47 Million). The arbitration order is awaited.
 
 2) Employee Benefits:
 
 The Company has made provision in the accounts for liability for
 Gratuity and Leave encashment based on Actuarial valuation, but has not
 funded the amounts. The particulars under the AS 15 (revised) furnished
 below are those which are relevant and available to the Company for
 this year.
 
 3) Liability towards Gratuity, Superannuation and Employees Deposit
 Linked Insurance has been fully provided in the accounts. Unfunded
 liabilities as at March 31, 2011 are Gratuity Rs. 32.75 Million
 (Previous year- Rs.29.50 Million ), Superannuation Rs. 40.79 Million
 (Previous year - Rs. 38.37 Million ), Employees Deposit Linked ,
 Insurance Rs. 5.69 Million (Previous year Rs. 5.69 Million). The
 payment of Gratuity is made by the Company to the employees directly,
 when it is due for payment.
 
 4) Balances under the head Loans and Advances, Other Current Assets
 (Other Deposits) , Debtors and Creditors are taken as per books and are
 subject to confirmation. In the opinion of the management, these are
 realisable in the ordinary course of business at the values stated.
 
 5) As per consistent practice followed by the Company, the entire
 expenditure incurred at or for contract sites is shown under Contract
 Costs without classifying the same under nominal heads of expenditure
 as referred to under Para 3 (x) of Part II of Schedule VI to the
 Companies Act, 1956.
 
 6) On the basis of responses received to circulars sent and information
 received, there are no amount due to,Micro, Small and Medium
 enterprises.
 
 As regards Small Scale Industries, there is a disputed claim made by
 Small Scale Industrial Undertaking M/s.  Vindhyachal Air Products
 Limited of Rs. 5.37 Million and the matter is pending in the High
 Court.
 
 However, in the considered view of the management and as relied by the
 Auditors, impact of interest, if any, that may be payable in accordance
 with the provisions of this Act is not expected to be material.
 
 7) Bank balances include:
 
 (a) Certain accounts aggregating Rs. 0.004 Million (Previous year -
 Rs.0.003 Million ) {including in-operative accounts aggregating Rs. NIL
 ( Previous year - Rs. 0.003 Million)} for which neither statement of
 account nor confirmations of balances have been received.
 
 (b) Fixed Deposits with Banks include Rs. 215.00 Million ( Previous
 year - Rs. 242.57 Million ) lodged as margin money deposits.
 
 (c) Balances with Indian Scheduled Banks in foreign currency account
 Rs. 4.80 Million (Previous year - Rs.  1.67 Million) which are
 incorporated in the accounts as appearing in the books.
 
 8) Segment Reporting:
 
 The Company has classified Operations into two Primary Business
 Segments i.e. Mechanical Erection and EPC Electrical, and two Secondary
 Segments i.e. Domestic and Overseas, in accordance with the requirement
 of AS 17 - Segment Reporting issued by the Institute of Chartered
 Accountants of India.
 
 9) Related Party Disclosures :
 
 a) Names of related parties and description of relationship
 
 i) Associate Companies:
 
 United Breweries (Holdings) Limited, Banglore 
 
 UB Infrastructure Projects Limited, Banglore 
 
 Kingfisher Finvest India Limited, Banglore
 
 UB Electronic Instruments Limited, Secunderabad
 
 ii) Subsidiary Companies:
 
 UB Infrastructure Limited, Pune
 
 Bhopal-Berasia-Sironj Highway Private Limited, New Delhi ( Step down
 subsidiary)
 
 UB Ostan (India ) Private Limited, Mumbai.
 
 iii) Directors / Key Management Personnel:
 
 Mr. J.K.Sardana - Managing Director 
 
 10) Orders placed of Capital Equipments not provided for Rs. 137.79
 Million (Previous year - Rs. 1.20 Million).
 
 11) Additional information pursuant to the provisions of Para 3,4C and
 4D of Part II of Schedule VI to the Companies Act, 1956 is not given as
 construction being service activity is not covered under Para 3(ii) (C)
 of Schedule VI to the Companies Act, 1956.
 
 12) Deferred Taxation:
 
 Deferred Tax Liability and Asset amounting to Rs. 5.39 Million and Rs.
 24.14 Million respectively , represents timing difference on account of
 Depreciation and deferment of deductions / allowances under Income Tax
 Act.
 
 13) Previous year figures have been reclassified / regrouped / restated
 wherever necessary to conform to the current period classification.