1.  CONTINGENT LIABILITY
 
 All liabilities have been provided for in the books of accounts and
 except liabilities of contingent nature. There is a contingent
 liability of service tax not recognised to the extent of Rs.151 lakhs
 which is disputed.
 
 2.  SUNDRY CREDITORS
 
 No dues to SSI are outstanding for more than 30 days.
 
 3.  PROVISION FOR INCOME
 
 Provision for income tax has been made as per Income Tax Act.
 
 4. IMPAIRMENT LOSS
 
 During the year the company has recognized impairment loss of Rs
 9590076/-. The Management has adjusted loss pertaining to the year of
 Rs 959008 against current year profit and the balance of Rs 8631068
 adjusted against General Reserve. The Impairment loss was related to
 Plant & Machinery and Building pertaining to Mineral Water Division as
 it has become obsolete.
 
 5. LIST OF RELATED PARTIES AND NATURE OF THEIR RELATIONSHIPS
 STANDARD – 18
 
 The details of related parties as identified by the management are as
 under:
 
 I) Key Management Personnel:
 
 Chandan Parmar      Chairman
 
 Suresh Kumar        Managing Director
 
 Chandan Kumar       Joint Managing Director
 
 II) Associates:
 
 Darshan Housing and Infrastructure Limited (Formerly known as Vijay
 Shanthi Finance Limited) - Associate Company
 
 Akash Housing – Proprietor concern ( Ratan Bai)
 
 Vijay Shanthi Miles Stone Developer Pvt. Ltd –Associate Company
 
 6. RELATED PARTY TRANSACTIONS
 
 The Company has identified all related parties and details of
 transactions are given below. No provision for doubtful debts or
 advances is required to be made and no amounts have been written off or
 written back during the year in respect of debts due from or to related
 parties. There are no other parties where control exists that need to
 be disclosed.
 
 7. SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE –
 41 OF THE LISTING AGREEMENT SEGMENT REVENUE 31.03.2009
 
 Though the company operates different business, the single primary
 business segments results constitutes more than 90% of total revenue of
 all segments no separate disclosure is required.
 
 8. GENERAL RESERVE
 
 General reserve includes Share premium for the shares issued during the
 year and deduction of impairment loss recognized related to earlier
 years of Rs 8631068/-.
 
 9. SECURED LOANS
 
 The secured loans include the ICICI Loan for Rs 55,00,00,000/- taken to
 repay the existing term loans in South Indian Bank secured against
 projects of Lotus Pond and the outstanding amount on 31.3.2011was Rs
 503085149/-. Kotak Mahindra Prime Ltd Project Loan Rs 29449564 has been
 secured against Besant Nagar project. The secured Loans also include
 new vehicle loan from ICICI Bank Ltd. for Rs 3910385 in addition to
 existing loans outstanding Rs 829754 and Rs 1879804 from Kotak Mahindra
 Prime Ltd secured against the vehicles of the Company.
 
 10. MISCELLANEOUS EXPENDITURE
 
 Miscellaneous expenditure disclosed to the extent not written off and
 written off is adjusted against related project expenditure.
 
 11. The nature of business carried on by the company is such that
 furnishing of Quantitative details relating to consumption of stock is
 not feasible.
 
 12. Previous year''s figures have been re-grouped and re-classified
 wherever necessary.