SCHEDULE L: SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO THE ACCOUNTS A. SIGNIFICANT ACCOUNTING POLICIES 1.

ACCOUNTING CONVENTION The financial statements are prepared under the historical cost convention in accordance with applicable mandatory accounting standards and relevant presentational requirements of the Companies Act, 1956 2. REVENUE RECOGNITION !i" #nvestment management and advisory fees is recognised on accrual basis !ii" #nterest income is recognised on accrual basis !iii" $ividend income is recognised on accrual basis if the dividend is in respect of the period covered by the financial statements or an earlier period, which are proposed or declared by the enterprises after the date but before the approval of financial statements 3. MISCELLANEOUS EXPENDITURE %reliminary and preoperative e&penses are amorti'ed over ten years $eferred revenue e&penses are amorti'ed over ten years (hare of on going e&penses of the (chemes are recognised on accrual basis 4. FIXED ASSETS )i&ed assets are stated at cost less accumulated depreciation 5. DEPRECIATION AND AMORTISATION $epreciation is provided on *ritten $own +alue ,ethod as per rates prescribed -nder (chedule .#+ of the Companies Act, 1956 Asset costing of /s 5,00012 are fully depreciation in the year of acquition #ntangible Assets are amortised over a period of 10 years in accordance with Accounting (tandard236 6. INVESTMENTS 4ong Term #nvestments are stated at Cost A provision for diminution is made to recogni'e a decline, other than temporary, in the value of long term investments 7. STOCK IN TRADE (toc5 in Trade is valued at cost or mar5et value which ever is less 8. EMPLO EE !ENEFITS !#"
(II)

The liability on account of 6ratuity is provided on the basis of actuarial valuation at the year2end The %rovision for 4eave encashment benefit to employees is provided on the basis of actuarial valuation at the year2end.

" DEFERRED TAX $eferred ta& is recogni'ed, sub7ect to consideration of prudence, on timing differences, representing the difference between the ta&able #ncome1!4oss" and accounting #ncome1 !4oss" that originated in one period and are capable of reversal in one or more subsequent periods $eferred ta& Assets and 4iabilities are measured using the ta& rates and ta& laws that have been enacted or substantively enacted by the 8alance (heet date !. NOTES TO THE ACCOUNTS

C#$%&$'($% L&)*&+&%,
Demands disputed by the Company and not provided for: NATURE OF DUES As at March 31, 2010 (Amount in Rs.) As at March 31, 2009

i" $emand raised by the #ncome Ta& $epartment, disputed by the Company and pending in appeal for the Assessment 9ear 300620: ; 300:20< ii" -ncalled 4iability on partly paid (hares 3

=:,0>,:5= =>,000

==,69,359 22

)ollowing (hares, held in long term investment, ; (toc5 #n Trade have given to the bro5er as margin and not in the name of the Company? L#$' T(-. I$/(0%.($%: S1-&230 N).( Arvind ,ills 4imited Asho5 4eyland 4imited 8harat )orge Co 4imited Chambal )ert ; Chem 4imited #C#C# 8an5 4imited # $ 8 # 4imited #)C# 4imited @% Associates 4imited 4loyd Alectric ; Angineering 4imited 4arsen ; Toubro 4imited Bagar7una )ertili'er ; Chemicals 4imited #spat #nd 4imited /anba&y 4aboratories 4imited /eliance Communications 4imited /eliance #ndustries 4imited /eliance Batural /esources 4imited /eliance %ower 4imited T#%)+ 8A9 N#. O4 S5)-(0 <,600 19,100 1,000 1=,<00 1:5 6,000 6<,9<5 =,=:5 1,000 100 1:,500 16,600 3,156 =50 =00 31,>56 1,000 P6-15)0( V)+6( =,16,9:= 6,53,05< 3,55,599 >,:=,55< 61,>6> 5,>1,0<1 >>,5<,<59 5,66,3<3 3,1=,353 60,:<9 :,00,<<: >,36,165 11,51,5>: 1,95,>59 =,0<,5>5 11,1>,31= 9:,:=5 1:15:"4:466 M)-7(% V)+6( 3,90,350 10,65,:<0 3,5>,=50 <,><,010 1,66,6<< 6,90,000 =>,=<,903 5,0>,:=1 63,100 1,6=,0<5 5,=<,135 =,33,0>0 10,3>,963 59,><= =,33,3:5 1=,=5,6=6 1,>9,>50 1:12:35:867

S%#17 I$ T-);(:

S1-&230 N).( Arvind ,ills 4imited Cindalco #ndustries 4imited #dea Cellular 4imited @ai %ra5ash %ower +entures 4imited ,angalore /efinery and petrochemicals 4imited *ire and *ireless #ndia 4imited %artly %aidup T#%)+ 8!9 T#%)+ 8A=!9 = D(4(--(; T)>

N#. S5)-(0

O4 6,>50 1,:59 3,:00 9,=:5 >,>50 =,>00

P6-15)0( V)+6( <6,>=0 53,15= 1,=5,3:0 3,=9,111 1,6=,193 =0,600 7:<6:756 1:23:<1:222

M)-7(% V)+6( 3,1:,6<< =,1<,<19 1,:6,<50 6,==,:50 =,=9,090 30,>00 17:<6:5"7 1:2":42:464

The 8rea5up of $eferred Ta& Asset14iability as at ,arch =1, 3010 comprises of the following? 2 DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD %articulars $eferred Ta& Assets1!4iabilities" As at 12>23009 Charge 1 !Credit" $uring the 9ear !:>,<0>" >,905 !:<,65:" !3<,>=1" !10>,36>" ==:,109 55,<5< $eferred Ta& Assets1!4iabilities" As at =12=23010

A00(%0 4eave Ancashment =66,65> 391,<51 31=,311 2 2 =6,5<: ==:,109 950,966

6ratuity 30<,=06 %rovision for $oubtful debts ; Advance :<,65: %rovision for ,edical /eimbursement %rovision for 4TA (hort Term Capital 4oss (ub Total !a" L&)*&+&%&(0 $epreciation1Amortisation !3:9,=6:" 3<,>=1 1>0,<51 2 <33,<99

>>,>1:

!3=>,950"

$eferred /evenue A&penditure !305,1>:" 10<,>=: !96,:10" DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD (ub Total !b" !><>,51>" 153,<5> !==1,660" 6rand Total !a2b" !==<,=<5" 30<,:1= 5>:,09< 8rought )orward 4ong Term Capital 4oss :0,==,9>9 2 :0,==,9>9 4. Disclosures as required under Accounting (tandard E 15 !/evised" on FAmployees 8enefitsG 1. D(4&$(; !($(4&% P+)$0:? G-)%6&%, F6$;@L()/( E$1)05.($% A. C5)$'(0 &$ %5( P-(0($% V)+6( #4 O*+&')%&#$0

P)-%&16+)-0

G-)%6&%, 31.<3.2<1< 831.<3.2<<"9

L()/( E$1)05.($% 31.<3.2<1< 831.<3.2<<"9

10,<=,>1: !>,65,913" Bil !Bil" 1,09,:13 !=:,3:=" Bil !Bil" >,1>,6=6 !>,=>,6>1" Bil !Bil" Bil !Bil" 5>,>15 !3:,19<" 26,0<,<51 !1,:3,:<9 " 9,>>,500 !10,<=,>1:" L()/( E$1)05.($% 31.<3.2<1<

+alue of Hbligation as at beginning of the period on 0120>23009 Acquisition ad7ustment

6,15,503 !3,:1,105" Bil !Bil" #nterest Cost 5<,30> !31,6<<" %ast (ervice Cost Bil !Bil" Current (ervice Cost 3,0<,53> !3,09,<51" Curtailment Cost 1 !Cost" Bil !Bil" (ettlement Cost 1 !Cost" Bil !Bil" 8enefit %aid Bil !Bil" Actuarial !gain"1 4oss on obligation 1,93,33< !1,13,<5<" %resent +alue of Hbligation as at the 6,90,003 end of the period on =120=23010 !6,15,503"

!. C5)$'( &$ F)&- V)+6( #4 P+)$ A00(%

P)-%&16+)-0 )air +alue of %lan Assets beginning of the year Acquisition Ad7ustments A&pected /eturn on plan assets Contributions by employer 8enefits %aid during the year Acturial 6ain 1 !loss" on %lan Asset at G-)%6&%, 31.<3.2<1<

831.<3.2<<"9
Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil"

831.<3.2<<"9
Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" 9,>>,500 !10,<=,>1:" Bil !Bil"

Bil !Bil" )air +alue of %lan Assets at the end Bil of the year !Bil" )unded (tatus 6,90,003 !6,15,503" A&cess of actual over estimated Bil return on plan assets !Bil"

C. A.#6$% #4 #*+&')%&#$ A A00(%0 -(1#'$&B(; &$ %5( !)+)$1( S5((%

P)-%&16+)-0 Hpening Bet 4iability A&penses charged to %rofit ; 4oss account 8enefit %aid Closing 4iability as at =1 0= 3010 G-)%6&%, 31.<3.2<1< L()/( E$1)05.($% 31.<3.2<1<

831.<3.2<<"9
6,15,503 !3,:1,105" :>,500 !=,>>,=9:" Bil !Bil" 6,90,003 !6,15,503"

831.<3.2<<"9
10,<=,>1: !>,65,913" 21,=<,91: !6,>>,:0=" 5>,>15 !3:,19<" 9,>>,500 !10,<=,>1:"

D. E>2($0(0 -(1#'$&0(; &$ %5( P-#4&% A L#00 A11#6$%

P)-%&16+)-0 Current (ervice Cost G-)%6&%, 31.<3.2<1< L()/( E$1)05.($% 31.<3.2<1<

831.<3.2<<"9
3,0<,53> !3,09,<50" #nterest Cost 5<,30> !31,6<<" Bet Actuarial !gain"1 4oss for the 1,93,33< period !1,13,<5<" A&penses /ecogni'ed in %rofit ; :>,500 4oss account !=,>>,=9:"

831.<3.2<<"9
10,<=,>1: !>,=>,6>1" 1,09,:13 !=:,3:=" 26,0<,<51 !1,:3,:<9" 21 11,:30 !6,>>,:0="

E. A1%6)-&)+ A006.2%&#$0 P)-%&16+)-0 G-)%6&%, L()/( E$1)05.($% 31.<3.2<1< 831.<3.2<<"9 < 50I !: 60I" 0 00I !0 00I" 10 00I !10 00I"

31.<3.2<1< 831.<3.2<<"9 $iscount /ate < 50I !: 60I" /ate of /eturn on %lan Assets 0 00I !0 00I" /ate of increase in 10 00I Compensation !10 00I" 5 R(+)%(; P)-%, D&01+#06-(0: !as identified and certified by the management" a" 4ist of /elated %arties i -nder Common Control !$omestic" Ascorts Construction Aquipment 4imited , Ascorts Automotive 4imited , Ascorts (ecurities 4imited,

!Hverseas" )armtrac Ascorts Aurope (p !J H H, " )armtrac Borth America 44C !-(A", 8eaver Cree5s Coldings 44C !-(A" ii Colding Company Ascorts 4imited iii Key ,anagement %ersonnel ,r 4alit K Khanna b" /elated %arty Transactions? %articulars -nder Common Colding Company Control Ascorts 4imited Ascorts (ecurities 4imited !/s in 4acs" !/s in 4acs" Key ,anagement %ersonnel !/s in 4acs"

/eimbursement of Common (haring !Bil" A&penses $irector (itting )ee Trading Account %urchase (ales 8alance as on =1st ,arch 3010 /eceivables %ayables
6. Earning per Shares (EPS

36 39 !=: >1"

Bil !Bil"

Bil

0 :0 !0 65" :< :3 !=1< 5<" 99 61 !333 =3" >>1 03 !>5= =>" Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" 3 =: !3 =:" ()- E$;(; 31?<3?2<1< Bil !Bil" Bil !Bil" Bil !Bil" Bil !Bil" ()- E$;(; 31?<3?2<<"

Bet %rofit After Ta& !/s 4acs" *eighted average number of shares outstanding 00,000 00,000 Aarning per shares !face value of /s 10 per shares "

8asic $iluted 8asic $iluted 8asic $iluted

34."8 !:6 36" 34."8 !:6 36" 1: <<: <<:<<< 1, 00, 1: <<: <<:<<< <.35 <.35 1, 00, !0 :6 !0 :6"

The Company has not received information from vendors1suppliers regarding their status under the F ,icro , (mall ; ,edium Anterprises Act, 3006G and hence disclosure relating to amount unpaid at the year end together with interest paid or payable under this Act has not been given

8. Previous ear!s fi"ures have been re"rouped # re$%assified &herever $onsidered ne$essary to ma'e them $omparab%e &ith the $urrent year fi"ures.

(ignatures to (chedule A to 4 As per our report of even date for 8ansal 6upta ; Associates Chartered Accountants /egn Bo 01:=5<B %an5a7 6upta %artner

*hole Time $irector

$irector

,embership Bo ? 9=3== %lace? Bew $elhi $ated? Company (ecretary