(Rupees in Lacs)
 
 1.  Contingent Liabilities & Provisions  31-03-2011    31-03-2010
 
 (A) Contingent Liabilities
 
 a) Counter Guarantee given to the Banks   14236.25      14619.89 
    for Bank guarantees issued
 
 b) Claims against the Company, not 
     acknowledged as debts
 
 - Others                                     16.54        16.54
 
 Excise Duty                                  10.75        10.75
 
 Total                                     14263.54     14647.18
 
 c) The Company has received demand notice from the Central Excise
 Department, raising the demand of duty of Rs.8.91 lacs and penalty of
 Rs. 8.91 lacs for the year 2007-08 and 2008-09. The said demand is
 raised for claim of Modvat credit on process loss of about 4 % to 5%
 resulted during conversion of copper in to copper wires and strips.
 
 d) The Company has received demand notice from the Central Excise
 Department, raising the demand of duty of Rs.130.57 lacs and penalty of
 Rs. 130.57 lacs for the period from April 2004 to May 2009.  The said
 demand is raised for claim of Modvat Credit on scrap / waste generated
 in the process of job work carried out by the out side job work parties
 who have retained the scrap / waste generated in the process.
 
 No provision is made in the accounts for the above, as the Company has
 not accepted its liability to pay such demand of duty and penalty and
 agitated the said demand and has filed appeal before the Commissioner
 of (Appeals).
 
 2. The amount of Excise Duty disclosed as deduction from turnover is
 the total excise duty collected for the year. Excise duty related to
 the difference between the closing stock and the opening stock, has
 been disclosed as Excise Duty under Schedule -14 annexed and forming
 part of profit and loss account.
 
 3. The Company is in the business of Manufacturing of Single Product
 namely Transformers. Further Organisation Set up is Unified and is not
 organised segment wise. Therefore, segment wise information as required
 by AS-17 on Segment Reporting is not applicable.
 
 4. The Accounting Standard - 15 (Revised) Employee Benefits is
 issued under Companies Accounting Standards Rule, 2006. In accordance
 with the above standard, the obligations of the Company, on account of
 employee benefits, based on independent actuarial valuation, is
 accounted for in the books of account.
 
 5.  Defined Benefit Plans:
 
 (a) Contribution to Gratuity Fund
 
 (b) Provision for Post Retirement Medical Benefits [PRMB]
 
 (c) Provision for Compensated Absences [CA]
 
 (E) Category of Plan Assets:
 
 The Company''s Plan Assets in respect of Gratuity are funded through the
 Group Scheme of the Life Insurance Corporation of India.
 
 b) Nature of Provision :
 
 Warranties - The Company provides Warranties for its products,
 undertaking to repair or replace the items that fail to perform
 satisfactorily during the warrantee period. Provision made as on 31st
 March, 2011 represents the amount of the expected cost based on past
 experience of meeting such obligations.
 
 6.  In the opinion of the Management, there are no indication,
 internal or external which could have the effect of impairing the value
 of the assets to any material extent as at the Balance Sheet date
 requiring recognition in terms of AS-28.
 
 7.  In the opinion of the Board, the current assets are approximately
 of the value stated if realised in the ordinary course of business. The
 provision for the depreciation and for all known Liabilities are
 adequate and not in excess of amount reasonably necessary. There are no
 Contingent Liabilities other than stated.
 
 8.  Prior period comparatives
 
 Previous year figures have been regrouped/ rearranged wherever
 necessary to conform to current year''s presentation.