Rs.
 1.  CONTINGENT LIABILITY ( Not provided for ) : 
                                                 2010-2011   2009-2010
 
 i) Income Tax matters in dispute
 in respect of penalty matters pending 
 before ITAT, Pune                              32,631,743  32,631,743
 
 ii) Co-acceptance of Import bills 
 by the bankers                                 32,609,860  61,312,462
 
 iii) Bank Guarantees on behalf 
 of the Company                                 33,667,799   4,225,625
 
 iv) Bills discounted                          374,103,634 488,087,261
 
 v) Claims against the Company 
 not acknowledged as debts                         156,790     156,790
 
 vi) Service Tax matters under Appeal            3,634,012   3,634,012
 
 2.  The operations of the Company primarily relate to automotive
 components, hence there is no seperate reportable segment as per
 Accounting Standard (AS) 17 Segment Reporting.
 
 3.  Related Party Disclosures as per AS18:
 
 a) List of Related Parties with whom transactions have taken place and
 relationships :
 
 Foreign Collaborator :
 
 ZF Lenksysteme, GmbH
 
 Associate Companies :
 
 - ZF Shanghai Steering Co.Ltd., China.  - ZF Boge Elastmettal GmbH
 
 - ZF Sistemas De Direcao Ltd, Brazil.   - ZF Great Briton
 
 - ZF Steering Jincheng (Nanjing),China  - Varsha Forgings Ltd
 
 Joint venture company : ZF Lenksysteme India Pvt. Ltd. (Company has 26%
 stake in the company)
 
 Key Managerial Personnel : 
 
 
 - Mr. Dinesh Munot    - Chairman & Managing Director
 
 - Mr. Jinendra Munot  - Jt. Managing Director
 
 - Mr. Utkarsh Munot   - Executive Director
 
 4.  Employee Benefits as per AS 15 (Revised 2005)
 
 a) Defined Contribution Plans : Contribution to Provident Fund of
 Rs.6,716,443 (previous year Rs.5,175,775) is recognized as expense and
 included in Contribution to Provident Fund and Other Funds in the
 Profit and Loss Account.  b) Defined Benefit Plans : The amounts
 recognized in respect of Gratuity and Leave Encashment, based on
 Acturial valuation is as per Annexure.
 
 5.  Under the Micro, Small and Medium Enterprises Development Act,
 2006 certain disclosures are required to be made for enterprises which
 are covered under the Act. Since the company is in a process of
 compiling relevant information from its suppliers about their coverage
 under the said Act, no disclosures have been made. However, in view of
 the management, the impact of interest, if any, that may be payable in
 accordance with the provisions of this Act is not expected to be
 material.
 
 6.  In current year provision for current taxes includes provision for
 wealth tax of Rs.429,722 (P.Y. - Rs. 400,000)
 
 7.  The Company has 26% joint venture interest in ZF Lenksysteme India
 Private Limited, a company incorporated in India.
 
 As on March 31, 2011, the Company has invested Rs. 33,800,000 (previous
 year Rs. 2,600,000) in the share capital of this Joint Venture.
 
 8 Foreign Exchange difference(Net) credited to Profit & Loss Account
 Rs.8,637,914 (Previous year : Credit Rs.  7,565,950)
 
 9. Figures relating to the previous year have been regrouped ,
 rearranged wherever it is necessary.