1 Corporate Information

The Amalgamated Electricity Company Limited (referred to as "the Company") provides a wide range of consultancy and management services.

2. Deferred tax

The break up of net deferred tax asset as on 31st March, 2014 is Rs. 172,039/- mainly representing Unabsorbed Business Loss & Depreciation. Due to uncertainty of future profits in terms of Accounting Standard 22, the company has not recognised additional deferred assets during the year. The balance brought forward Rs. 8,975/- has been carried over. Difference between WDV as per books and Income tax

ii Related party disclosures The particulars of related parties, as certified by the management, together with the transactions during the year and related balances as on 31st March, 2014 are as under:

i) List of related parties : a) Holding Company : None b) Subsidiary Company: None

c) Associate Companies :

Cifco Limited Tropical Securities and Invesments Pvt Ltd Western Press Pvt Ltd Cifco Properties Pvt Ltd Cifco Travels Pvt Ltd Bombay Swadeshi Stores Ltd Gateway International Pvt Ltd Grishma Constructions and Trading Pvt Ltd Sam Leaseco Ltd. Arcadia Invesments Co. Ltd Apurva Investments Co. Ltd Chasam Investment and leasing Pvt Ltd Milan Investments Ltd Harbinger Trading Co. Pvt Ltd

d) Key Management Personnel : Mr. Milan B Dalal Mr. Satyen B Dalal Mr. Deepak Sheth

iii Income tax department have raised ` 380,360/- for AY 2001-02 and ` 412,659/- for AY 2002-03 which are not disputed by the Company. Against these liabilities the payment of tax and refund of Income Tax aggregating to Rs. 7,16,342/- has remained unadjusted. Despite consistent efforts with the department, the matter has remained unresolved.

iv C ontingent Liabilities and Commitments With regard to the claim of Rs. 78,600/- by a consumer of erstwhile Ajmer undertaking, the Company does not expect any liability and if any arises, same is unascertainable.

v During the year under review the Company filed a Special Leave Petition before the Hon'ble Supreme Court in April, 2013 which has been disposed off on 10th May, 2013 and dismissed by the Hon'ble Supreme Court. As a consequence the Company handed over the peaceful possession of its premises to Dena Bank on 9th November, 2013.

Since then Dena Bank has not filed any application in any higher court or lower court with regard to any damages/ mesne profits. The Company has obtained legal opinion that there will be no liability arising in future. At the time of proceedings before Hon'ble High Court at Mumbai the Company was required to deposit a sum of Rs. 10 lacs to the Hon'ble High Court as per their order. The Company is pursuing the matter with the court for refund of this amount of Rs. 10 lacs, pending the refund , the amount has been reflected under the head Long Term Loans and Advances in the Balance sheet

vi Figures of the previous year are re-grouped/re-arranged to make them comparable with the figures of the year under review.