1. CONTINGENT LIABILITIES & COMMITMENTS                 (Rs. in Lakhs)

SR   Particulars                                    2014-15    2013-14
No 

i.   Un expired Letters of Credit                    245.58     319.57

ii.  Counter Guarantees given by Company 
     for Bank Guarantees issued                      519.46     377.33

a)   Income Tax                                       17.68      17.62

b)   Sales Tax (*)                                    26.45      30.54

c)   Entry Tax (#)                                    89.85      91.01

d)   Excise                                               -       1.06

TOTAL                                                899.02     837.13

# Amount paid under protest against the demands amounting to Rs. 4.90 lakhs (Previous year- Rs. 4.20 lakhs )is shown under "Long Term Loans and Advances" under Note no.12

2. Disclosure relating to Gratuity, as certified by Life Insurance Corporation of India, (Pension and Group Scheme Department) for the year ended 31st March, 2015 have been made as below:

i) In accordance with applicable Indian laws, the Company provides for gratuity, a defined benefit retirement plan (Gratuity Plan) covering certain categories of employees.

ii) The Company provides the gratuity benefit through annual contributions to a fund managed by the Life Insurance Corporation of India (LIC). Under the plan, the settlement obligation remains with the Company, although the Life Insurance Corporation of India administers the plan and determines the contribution premium required to be paid by the Company.

iii) Annual premium payable to LIC amounting to Rs. 0.10 lakhs (Previous Year- Rs. 1.00lakhs) have been shown under "Employee Benefit Expenses" in Schedule-22.

3. Trade Receivables, deposits and advance to parties include some old balances pending reconciliation/ adjustment/ confirmation.

4. Advances received for supply of Transformers for Rs. 33.35 lakhs has been written back in view of absence of response by the customer since 2011. As and when the Customer intend to take the transformer, the Company will supply after receipt of differential price at prevailing market rate and overall cost will be debited to Statement of Profit & Loss as an event of that year.

4. In terms of Accounting Policy Note No. 25 (12), the Company assessed the Cash Generating Unit for Impairment Test using a discount rate of 8% and did not find any asset that requires a provision for impairment.

5. Operating Cycle is considered to be twelve months period.

6. Previous Year's Figures have been regrouped and re arranged wherever necessary.