(a) Detailed note on the terms of the rights, preferences and
 restrictions relating to each class of shares including restrictions on
 the distribution of dividends and repayment of capital.
 
 i) The Company has only one class of Equity Shares having a par value
 of Rs.1 (Previous Year Rs.10) per share. Each holder of Equity Share is
 entitled to one vote per share. The Company declares and pays dividend
 in Indian Rupees. During the year ended March 31, 2012 the amount of
 per share dividend recognised as distributions to Equity Shareholders
 is Rs.0.20 per share of Rs.1 each including bonus shares (P.Y. Rs.2 per
 share of Rs.10 each). The dividend proposed by the Board of Directors
 is subject to the approval of the shareholders in the ensuing Annual
 General Meeting.
 
 ii) On receipt of shareholders'' approval by way of postal ballot on
 March 30, 2012, the Company has increased & subdivided its authorised
 share capital from Rs.4500 lacs divided into 4,50,00,000 Equity Shares
 of Rs.10 each to Rs.7500 lacs divided into 75,00,00,000 Equity Shares
 of Rs.1 each & the Company has altered its Memorandum & Articles of
 Association accordingly.
 
 iii) The dividend appropriation for the year ended March 31, 2011
 provided for in the books of accounts in FY 2010-2011 was Rs.579.75
 lacs including corporate dividend tax of Rs.80.92 lacs. However, the
 dividend declared & paid was Rs.580.30 lacs including corporate
 dividend tax of Rs.81 lacs. These liabilities were higher by Rs.0.55
 lacs (including corporate dividend tax of Rs.0.08 lacs) due to issue of
 23,733 equity shares as ESOPs on July 16, 2011 i.e. before book closure
 date notified for the declaration of dividend.  The same has been
 accounted for in the current year in Profit & Loss Appropriation
 Account.
 
 iv) In the event of liquidation of the Company, the holders of Equity
 shares will be entitled to receive remaining assets of the Company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of Equity shares held by the
 shareholders.
 
 (f) Detailed note on shares reserved to be issued under options and
 contracts (ESOPs or Loans) / commitment for the sale of shares (without
 payment being received in cash) divestments including the terms and
 conditions.
 
 The Company has formulated Employees Stock Option Scheme, 2008 (ESOP
 Scheme) which was approved by the members of the Company at their
 meeting held on September 23, 2008, as modified on January 10, 2011.
 
 Employees covered under Stock Option Plans are granted an option to
 purchase shares of the company at the respective exercise prices,
 subject to requirements of vesting conditions. These options generally
 vest over a period of four years from the date of grant. Upon vesting,
 the employees can acquire one equity share for every option.
 
 The stock compensation cost is computed under the intrinsic value
 method and amortized on a straight line basis over the total vesting
 period of four years. For the year ended March 31, 2012, the company
 has recorded stock compensation expense of Rs.124.60 Lacs (Previous
 year Rs.26.86 Lacs)
 
 The Remuneration & Compensation committee of the Board evaluates the
 performance and other criteria of employees and approves the grant of
 options. These options vest with employees over a specified period
 subject to fulfillment of certain conditions. Upon vesting, employees
 are eligible to apply and secure allotment of Company''s shares at a
 price determined on the date of grant of options.
 
 On July 31, 2009, company granted 2, 70,700 options (Grant 1)
 convertible into equity shares of Rs.10 each exercisable at Rs.61.90.
 
 On December 30, 2009, company granted 20,600 options (Grant 2)
 convertible into equity shares of Rs.10 each exercisable at Rs.67.85.
 
 On May 18, 2010, company granted 1,56,200 options (Grant 3)
 convertible into equity shares of Rs.10 each exercisable at Rs.146.50.
 
 On November 24, 2010 , company granted 86,750 options (Grant 4)
 convertible into equity shares of Rs.10 each exercisable at Rs.150.00.
 
 On August 12, 2011 company granted 64,850 options (Grant 5)
 convertible into equity shares of Rs.10 each exercisable at Rs.150.00.
 
 The options once granted to an eligible employee gets lapsed with the
 resignation / termination of the employment with the Company. However,
 the unvested / unexercised portion of the ESOP entitlement to that
 employee remain part of the respective grant out of which it was issued
 & they can be granted to any other eligible employee as decided by the
 Remuneration & Compensation Committee.
 
 (g) Detailed terms of any securities convertible into shares, e.g. in
 the case of convertible warrants, debentures, bonds etc.
 
 The Company does not have any securities convertible into shares as on
 reporting date.
 
 Note: 1. The short provision for dividend & dividend tax above is
 towards dividend declared for the financial year 2010-11.
 
 2.  Out of the Securities Premium account balance as on year end, an
 amount of Rs.2502.40 lacs will be capitalized and transferred to Share
 Capital account pursuant to the resolution passed by the members
 through postal ballot for allotment of bonus shares in the ratio of one
 equity share of Rs.1 each for every share held as on record date i.e.
 April 13, 2012.
 
 The amount of Rs.854.00 lacs received upto March 31, 2011 towards
 12,20,000 convertible warrants out of 34,70,000 convertible warrants
 issued in the financial year 2009-10, has been converted into
 equivalent number of equity shares during the year. Balance 22,50,000
 convertible warrants have been converted into equivalent equity shares
 upto the end of the financial year 2010-11.
 
 (b) Terms of repayment of term loans and other loans.
 
 i) Term Loan from Banks:
 
 The Company has entered into a Common Loan Agreement during the year
 appointing M/s. Axis Trustee Services Limited as Security Trustee for
 reallocation of the Rupee Term Loan amounting to Rs.22500 lacs
 sanctioned during the year by Axis Bank Limited, under multiple banking
 arrangement.
 
 The said Rupee Term Loan has been allocated to each of the lenders
 (parties to the Common Loan Agreement) as follows:
 
 - Axis Bank Limited - Rs.10000 lacs
 
 - Andhra Bank - Rs.7500 lacs
 
 - Punjab National Bank - Rs.5000 lacs
 
 The initial interest rate in respect of all the lenders shall be 13%
 p.a. payable with monthly rests irrespective of the individual interest
 rates mentioned in respective lenders'' sanction letters, subject to
 further change in Base Rate till date of documentation. The highest
 rate of interest of any lender shall be applicable and payable by the
 Company to all the lenders. The interest spread reset shall be done
 every 2 years from the date of first disbursement. The loan is to be
 repaid in 14 unequal quarterly installments commencing after moratorium
 period of six months from the date of first disbursement / LC opening.
 First installment shall be due at the end of six months, thereby total
 tenor of the loan to be 45 months.
 
 ii) Term Loan from GE Money Financial Services Pvt. Ltd. carries an
 interest rate of 11.50% p.a. fixed for the first 6 months of the
 tenure, subject to the drawdown being made on or before July 31, 2011.
 After the expiry of first 6 months, the rate of interest has been
 increased to 12.93% p.a. The interest payment to be made monthly.
 Principal repayment shall be in monthly equal instalments for 36 months
 from the date of drawdown.
 
 (c) Nature of security of each type of secured loans.
 
 i) Term Loans from Banks:
 
 1.  First pari-passu & exclusive charge on entire UID kits purchased
 out of the term loan.
 
 2.  Second parri-passu charge on current assets of the Company,
 including UID project receivables.
 
 3.  Second parri-passu charge on moveable assets of the Company.
 
 4.  Second parri-passu charge through mortgage on the office premises
 of the Company, situated at Marol Co-Operative Industrial Society &
 Hind Saurashtra Industries Co-Operative Society Limited, Marol, Andheri
 (East), Mumbai.
 
 5.  First charge on the office premises of the Company, situated at New
 Delhi.
 
 6.  Personal Guarantee of Mr. Dinesh Nandwana, Chairman & Managing
 Director of the Company.
 
 ii) Term Loans from Others - GE Money Financial Services Pvt Ltd:
 
 1.  First pari-passu charge on all present and future fixed assets of
 the Company excluding (i) UID kits financed by Axis Bank & (ii)
 immovable property on the balance sheet of the Borrower as on March 31,
 2011.
 
 2.  In the event that the Company acquires any immovable property after
 March 31, 2011, it is required to create a charge on the said immovable
 property for the due repayment of this facility.
 
 3.  Second pari-passu charge on all present and future current assets.
 
 4.  Personal Guarantee of Mr. Dinesh Nandwana, Chairman & Managing
 Director of the Company.
 
 (d) Details of the aggregate of each loan guaranteed by directors or
 others, each headwise.
 
 All the term loans amounting to Rs.15,596.12 lacs (P. Y. Nil)
 guaranteed by Mr. Dinesh Nandwana, Chairman and Managing Director of
 the Company.
 
 (e) Details of continuing default in the repayment of loans and
 interest, specifying the period and amount separately in each case.
 
 There has been no default in the repayment of loans or interest thereon
 as on date.
 
 (b) Nature of security of each type of secured loans.
 
 a) Loans repayable on demand from Banks:
 
 The Company had entered into a Security Trustee Agreement appointing
 M/s. Axis Trustee Services Limited as Security Trustee for availing the
 working capital facilities under the multiple banking arrangement
 aggregating to Rs.37500 lacs, with the following bankers:
 
 - Axis Bank Limited
 
 - Union Bank of India
 
 - Barclays Bank PLC
 
 - ICICI Bank Limited
 
 - ING Vyasa Bank Limited
 
 - Dhanlaxmi Bank Limited
 
 These facilities are secured against the following charge on various
 assets of the Company:
 
 1.  Primary: First pari-passu charge on the entire current assets of
 the Company, both present & future.
 
 2.  Collateral:
 
 - First pari-passu charge on the entire movable fixed assets of the
 Company (excluding UID kits purchased out of the term loan facilities),
 both present & future.
 
 - First pari-passu charge on office premises of the company & of
 Vakrangee Technologies Limited, situated at Marol Co-Operative
 Industrial Society & Hind Saurashtra Industries Co-Operative Society
 Limited., Marol, Andheri (East), Mumbai.
 
 3.  Personal Guarantee of Mr. Dinesh Nandwana, Chairman & Managing
 Director of the Company.
 
 b) Loans repayable on demand from Others: Vehicle loans are secured
 against the specific asset (vehicle) finance
 
 c) Loans and advances from Related Parties: For details, refer Note 37.
 
 d) Inter Corporate Deposits: The Inter-Corporate Deposit amounting to
 Rs.370.00 lacs is secured against the Bank Guarantee given by the
 Company.
 
 (c) Details of the aggregate of each loan guaranteed by directors or
 others, each headwise.
 
 1.  All the loans repayable on demand from banks amounting to
 Rs.19,361.69 lacs (P. Y. Rs.14,880.02 lacs) guaranteed by Mr. Dinesh
 Nandwana, Chairman and Managing Director of the Company.
 
 2.  Loan from banks repayable on demand (facility from Dhanlaxmi Bank
 Limited) amounting to Rs.2490 lacs guaranteed by M/s. Vakrangee
 Technologies Limited.
 
 (d) Details of continuing default in the repayment of loans and
 interest, specifying the period and amount separately in each case.
 
 There has been no default in the repayment of loans or interest thereon
 as on date.
 
 (b) Details of Capital Work-in-Progress
 
 Capital Work-in-Progress represents cost incurred towards purchase of
 software (pending installation).
 
 (c) Detailed note on Fixed Assets taken on Lease
 
 The Company has not taken any assets on lease, except computer
 equipments assets taken on operating lease under non-cancellable
 agreements. As the assets taken on lease are not under finance lease,
 the details thereon has not been classified into owned assets & leased
 assets above. For further details on operating lease, please refer Note
 No. 40.  
 
 (d) During the year Company has started prestigious UID Enrolment
 project of Government of India. UID Project is highly capital intensive
 and required substantial investment in form of fixed assets. For the
 purpose company has acquired fixed assets worth approximately 36000
 lacs and classified the same as project Assets. The management of the
 company envisage that the useful life of these assets assigned to any
 project, present or future, will be 4 years and accordingly has
 accelerated the depreciation at higher rate. For the purpose of
 acquiring these assets company has taken loan from Axis Bank, Punjab
 National Bank & Andhra Bank totalling to 22500 lacs.
 
 During previous year, the Company has provided guarantee to Barclays
 Bank Pic. in respect of working capital loan of Rs.700.00 Lacs granted
 to Vakrangee e-solutions Inc., Philippines (wholly-owned subsidiary of
 the Company). The amount of liabilities, which may occur on levying of
 penalty and/or charges by clients for delays in execution of contracts
 within the time prescribed in the agreement, is unascertained.
 
 Note 1 - Dividends
 
 (a) Detailed note on Proposed Equity Dividend & Proposed Preference
 Dividend for the period and related amount per share.
 
 The Board of Directors of the Company recommended Dividend of Rs.0.20
 per share on fully paid up equity share of Rs.1 each (including bonus
 shares issued after Balance sheet date) for the financial year ended
 March 31, 2012, subject to members approval in the ensuing Annual
 General Meeting.
 
 Earnings Per Share for the previous year have been reworked to give the
 effect of sub-division of equity shares from Rs.10 each into Rs.1 each
 and issue of bonus shares in accordance with Accounting Standard (AS)
 20 on Earnings Per Share.
 
 * Bonus Declaration:
 
 Share holders by way of postal ballot have approved issue of bonus
 shares on March 30, 2012 in the ratio of one fully paid up equity share
 for every equity share held on April 13, 2012 being the record date. In
 view of this, the effect of actual allotment of equity shares as bonus
 issue out of the Securities Premium Account, has not been given in the
 books of accounts for the current year ended March 31, 2012. However,
 the Basic & Diluted EPS has been adjusted for both the reporting
 periods as per the requirements of Accounting Standard - 20 on Earning
 Per Share issued by the Institute of Chartered Accountants of India.
 
 Note 2 - Value of Raw Materials, Spare Parts and Components Consumed
 
 Since the Company is engaged in providing e-governance related
 services, the quantitative details with respect to Opening Stock,
 Purchases, Sales and Closing Stock are not applicable to the Company
 and hence not given.
 
 Note 3 - Segment Reporting
 
 The Company''s activities predominantly revolve around providing the
 e-governance related services. Considering the nature of Company''s
 business and operations, there is only one reportable segment (business
 and / or geographical) in accordance with the requirements of the
 Accounting Standard 17 - Segment Reporting notified in the Companies
 (Accounting Standards) Rules 2006.
 
 Note 4 - Amounts due to Micro, Small and Medium Enterprises:
 
 The Company has not received any intimation from the suppliers under
 the The Micro, Small & Medium Enterprises Development Act 2006 and
 therefore disclosures, if any, relating to amounts unpaid as at the
 year end together with interest paid/payable as required under the said
 Act have not been given.
 
 Note 5-Previous year figures
 
 The figures of the previous year have been re-arranged, re-grouped and
 re-classified wherever necessary.