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Notes to Accounts of Genus Power Infrastructures Ltd.

Mar 31, 2016

b. Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of Re.1 per share. Each holder of equity shares is entitled to
one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is
subject to the approval of shareholders in the ensuing Annual General Meeting.

During the year ended March 31, 2016, the amount of per share dividend recognized as distributions to equity shareholders is Re.
0.25 (March 31, 2015: Re. 0.20).

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the
Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution
will be in proportion to the number of equity shares held by the shareholders.

As per records of the Company, including its register of shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares except for the
Mondip Kumar Tamuly who is holding equity shares on behalf of Genus Shareholders'' Trust.

e. For details of shares reserved for issue under Employee Stock Option Plan (ESOP) of the Company, refer note 32(a).


* Pursuant to the scheme of amalgamation approved by the Hon''ble Allahabad High Court in 2013-14, the shares of the Company held
by the Company and Genus Paper Products Limited were consequently transferred to the Genus Shareholders'' Trust for the benefit of
the Company and its Shareholders. The trust is administered by an independent trustee.

During the year, the trust has sold 20,000,000 equity shares of the Company and in line with the purpose of the trust, remitted
the proceeds to the Company. The surplus arising on such distribution of Rs. 10,051.55 lacs and the amounts received towards
dividend on shares of the Company held by the trust of Rs. 95.00 lacs have been recognized directly in the reserves as such
amounts have arisen on shares of the Company.

(1) The foreign currency term loan from a bank of Rs.1,706.34 lacs ( March 31, 2015: Rs. 2,589.18 lacs) is secured by first
exclusive charge on the entire fixed assets of the Company''s Jaipur unit- II situated at plot No.SP-1-2317, Ramchandpura,
Sitapura extensions, Jaipur (Rajasthan) and Haridwar Unit-II situated at Plot No:9, Sector-2, SIDCUL, Haridwar (Uttarakhand)
including immovable properties, present and future acquired out of the said loan and unconditional irrevocable personal
guarantees of promoter directors Mr. Ishwar Chand Agarwal, Mr. Rajendra Kumar Agarwal and Mr. Jitendra Kumar Agarwal. Interest
will be paid at 6 month USD Libor 280 BPS p.a payable quarterly (Libor to reset quarterly). The effective weighted average
interest rate is 3.62% p.a (March 31, 2015: 3.30% p.a.). These loans are repayable in unequal quarterly installments starting
from June 2012 and will end in May 2017.

(2) Vehicle loans from banks and non-banking financial companies is secured by way of hypothecation of the vehicles financed by
them under the finance scheme. The effective weighted average interest rate is 10.05% p.a (March 31, 2015: 10.75% p.a.)


(1) Cash credit and Buyer''s credit from banks of Rs.17,717.32 lacs (March 31, 2015: Rs.29,581.43 lacs) of the Company under
consortium arrangement from Bank of Baroda, State Bank of India, Punjab National Bank, IDBI Bank Ltd, State Bank of Bikaner and
Jaipur, Axis Bank and Export Import Bank of India, is secured by way of first pari-passu charge on entire current assets of the
Company both present and future and collateral security by way of 1st pari-passu charges on the entire unencumbered fixed assets
of the Company and equitable mortgage of properties on pari-passu basis situated at SPL-3A & SPL-2A, Sitapura, Jaipur (Rajasthan)
and Plot No.12, Sector-4 , IIE Haridwar (Uttrakhand) and further secured by personal guarantees of Mr. Ishwar Chand Agarwal, Mr.
Rajendra Kumar Agarwal, Mr. Jitendra Kumar Agarwal and Mr. Vishnu Todi. The rate of interest for cash credit is 9.90% to 12.00%
p.a. (March 31, 2015: 10.50% to 12.25% p.a.) and for buyer''s credit is LIBOR 0.56% (March 31, 2015: LIBOR 0.64%).

(2) Bills discounting of Rs. 1,638.67 lacs (March 31, 2015: Rs. 1,375.36 lacs) of the Company are secured by Inland documentary
bills covering dispatches of goods under Prime Bank''s Letter of credit supported by related documents.. The rate of interest is
9.60% p.a (March 31, 2015: 10.00 % p.a.)

(3) Bills discounting of Rs. 2,171.65 lacs (March 31, 2015: 2,382.95 lacs) are discounted on vendor invoices and carries an
interest rate calculated at Base Rate of SBI with credit period of up to 90 days. This facility is secured by personal
guarantees of Mr. Ishwar Chand Agarwal, Mr. Rajendra Kumar Agarwal, Mr. Jitendra Kumar Agarwal and Mr. Vishnu Todi.


*In view of the financial position and current level of operations of Genus SA, Brazil, the board of directors had, at their
meeting held on November 14, 2014, accorded their consent to write off such investment, subject to necessary compliances and
approvals. During the year, management has assessed the requirements for approvals for write off the investment and is in the
process of completing the necessary formalities in this regard.

Further, the entire value of such investment was provided for in the previous year and the Company does not expect any recovery
or to incur any further obligation in respect of such investment.


On October 29, 2009 a blast / fire incident had taken place at IOCL depot adjoining to Jaipur unit of the Company. The Company
had suffered loss of assets due to such blasts and had filed a claim of damages with IOCL. The Company had received
compensation/ad hoc relief from IOCL through RIICO aggregating to Rs. 1,417.62 lacs in July 2010 against submission of bank
guarantee as per the order/direction of Hon''ble Rajasthan High Court (''RHC''). The Company has filed writ petition in High court
and the RHC had further passed an order allowing the Company''s writ petition on April 29, 2011. The said order was challenged by
RIICO Ltd in writ revision petition dated May 20, 2011. The RIICO Ltd had then filed D.B. Special Appeal (writ) on May 14, 2013
against the orders of RHC and the matter was sub-judice.

The Company has been confident of receiving the entire claim made, however, during the previous year the matter has been settled
and the Company received Rs. 240.86 lacs as final relief towards the damages claimed by the Company in addition to the amount
received earlier. The Company has disclosed the same as "extra-ordinary item.

1. Employee Stock Option Plan

a. Employee Stock Option Scheme "ESOS-2012"

The Company has reserved issuance of 7,945,000 (March 31, 2015: 7,945,000) equity shares of face value of Re.1 each for offering
to eligible employees of the Company under Employees Stock Option Scheme-2012 (ESOS-2012). In the earlier years, the Company has
granted 2,840,300 options which includes 1,815,600 options at a price of Rs.7 per option (adjusted for shares issued pursuant to
scheme of arrangement), 582,000 options at a price of Rs.6 per option (adjusted for shares issued pursuant to scheme of
arrangement) and 442,700 options at a price of Rs.27.10 per option. The options would vest over a maximum period of 6 years or
such other period as may be decided by the Nomination and Remuneration Committee from the date of grant based on specified
criteria.


c. Notes:

1 The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion
and other relevant factors, such as supply and demand in the employment market.

2 Percentage of plan assets as investments with insurer is 100%.

3 The expected rate of return on assets is based on the expectation of the average long term rate of return expected on
investments of the fund during the estimated term of the obligations.


2. Related party disclosures

Names of related parties and description of relationship

Relationship Name of the Party

Associates M.K.J. Manufacturing Private Limited

Greentech Mega Food Park Private Limited Genus Consortium

Joint ventures Genus SA, Brazil

Enterprises in the control of the Management J C Textiles Private Limited

Hi-Print Electromack Private Limited

Genus Paper & Boards Limited

Genus Innovation Limited

Genus Apparels Limited

Genus Electrotech Limited

Yajur Commodities Limited (formerly known as Virtuous

Urja Limited) (Associate upto June 30, 2014)

Key managerial personnel Mr. Ishwar Chand Agarwal

Mr. Rajendra Kumar Agarwal Mr. Jitendra Kumar Agarwal

Relatives to key managerial personnel Amit Agarwal (HUF)

Rajendra Kumar Agarwal (HUF)


3. Discontinuing operations

During the previous year ended March 31, 2015, pursuant to the approval of shareholders in the annual general meeting held on
September 29, 2014, for the disposal of the Company''s ''Home & Industrial Products'' ("HIP") division (i.e. a complete range of
Inverters/UPS, Solar PCU and Batteries) together with its assets and liabilities as a going concern on a ''slump sale'' basis for a
consideration of Rs. 4,918.00 lacs to Genus Innovation Limited, the Company has entered into an binding agreement on February
17,2015, with Genus Innovation Limited to be effective from April 1,2015. The Company has received an advance of Rs. 1,900.00
lacs towards the same in Financialyear2014 -15.

4. Leases - operating leases

Operating leases are mainly in the nature of lease of office premises with no restrictions and are renewable/ cancellable at the
option of either of the parties. There are no sub-leases. There are no restrictions imposed by lease arrangements. The aggregate
amount of operating lease expenses recognized in the statement of profit and loss is Rs. 153.82 lacs (March 31,2015: Rs. 179.58
lacs).

5. Disclosure required under section 186 (4) of the Companies Act, 2013

Included in loans and advance are certain inter-corporate deposits the particulars of which are disclosed below as required by
section 186 (4) of Companies Act 2013:


6. Warranty expenses

The Company provides warranties for its products, undertaking to repair and replace the item that fails to perform satisfactorily
during the warranty period. A provision is recognized for expected warranty claims on products sold based on past experience of
the level of repairs and returns. The table below gives information about movement in warranty provisions.


7. The Company has spent Rs.116.98 lacs (March 31, 2015: Rs. 94.21 lacs) against total requirement of Rs. 113.56 lacs (March
31, 2015: Rs. 91.47 lacs)as per section 135 of the Companies Act, 2013. The amount contributed towards CSR activities are for
various items mentioned in Schedule VII of the Companies Act, 2013 and is as approved by the CSR Committee.

8. Previous year figures have been regrouped / reclassified, wherever necessary to conform to those of current period''s
classification.


Mar 31, 2015

(1) The foreign currency term loan from a bank of Rs. 2,589.18 (March 31,2014: Rs. 3,279.45) is secured by first exclusive charge on the entire fixed assets ol the Company's Jaipur Unit-ll situated at Plot No.SP-1 -2317, Ramchandpura, Sitapura extension, Jaipur (Rajasthan) and Haridwar Unit—II situated at Plot No.9 Sector-2, SIDCUL, Haridwar (Uttarakhand) including immovable properties, present and future acquired out of the said loan and unconditional irrevocable personal guarantees of promoter directors Mr. Ishwar Chand Agarwal, Mr. Rajendra Kumar Agarwal and Mr. Jitendra Kumar AgarwaL Interest will be paid at 6 month USD Libor 280 BPS p.a. payable quarterly (Libor to reset quarterly). The effective weighted average interest rate is 3.30% p.a. (March 31, 2014 3.34% p.a.). These loans are repayable in unequal quarterly installments starting from June 2012 and will end in May 2017.

(1) Cash credit and buyer's credit from banks of Rs. 29,581.43 (March 31,2014: Rs. 25,776.20) of the Company under consortium arrangement from Bank of Baroda, State Bank of India, Punjab National Bank, IDBI Bank Ltd, State Bank of Bikaner and Jaipur, Axis Bank and Export Import Bank of India, is secured by way of first paripassu charge on entire current assets of the Company both present and future and collateral security by way of 1 st Pari-passu charges on the entire unencumbered fixed assets of the Company and equitable mortgage of properties on pari-passu basis situated at SPL-3A & SPL-2A, Sitapura, Jaipur (Rajasthan) and Plot No.12, Sector-4 , HE Haridwar (Uttrakhand) and further secured by personal guarantees of Mr. Ishwar Chand Agarwal, Mr. Rajendra Kumar Agarwal, Mr. Jitendra Kumar Agarwal and Mr.Vishnu Todi. The rate of interest is 10.50% to 12.25% p.a. (March 31,2014:11.50% to 11.75%) and for buyer credit is LIBOR 0.35% (March 31,2014: LIBOR 0.50%).

(2) Bills discounting of Rs. 1,375.36 (March 31,2014:1,890.72) of the Company carries an average interest rate of 10% (March 31,2014:10.50%). This facility is secured by personals guarantee of Mr. Ishwar Chand Agarwal, Mr. Rajendra Kumar Agarwal, Mr. Jitendra Kumar Agarwaland Mr.Vishnu Todi.

(3) Bills discounting of Rs. 2,382.95 (March 31,2014: Nil) of the Company carries an interest rate calculated at Base Rate of SBI with credit period of upto 90 days. This facility is secured by personals guarantees of Mr. Ishwar Chand Agarwal, Mr. Rajendra Kumar Agarwal, Mr. Jitendra Kumar Agarwal and Mr.Vishnu Todi.

1. Capital and other commitments

Estimated amount of contracts (net of advances) remaining to be executed ton capital account and not provided for Rs. 256.92 (March 31,2014: Rs. 685.26)

2. Contingent liabilities

Particulars March 51,2015 March 51,2014

a. Bank Guarantee issued by Banks and against which margin money of 5,922.00 8,484.48 Rs. 1,699.36 (March 31, 2014: Rs. 1,767.73) was provided in the form of Fixed deposits.

b. Corporate guarantee to banks to secure the credit facilities of others. 25,000.00 25,000.00

c. Outstanding letter of credit issued by Banks against which margin 3,273.17 1,512.09 money of Rs. 137.14 (March 31, 2014: Rs. 71.69) was provided in the form of Fixed deposits

d. Claims arising from disputes not acknowledged as debts - indirect 4,219.33 3,529.54 taxes (excise duty, custom duty and service tax)

e. Claims arising from disputes not acknowledged as debts - direct taxes 4,027.79 3,215.96

f. Claims against the Company not acknowledged as debts 76.17 683.77

On October 29,2009 a blast / fire incident had taken place at IOCL depot adjoining to Jaipur unit of the Company. The Company had suffered loss of assets due to such blasts and had filed a claim of damages with IOCL The Company had received compensation/ad hoc relief from IOCL through RIICO aggregating to Rs. 1,417.62 in July 2010 against submission of bank guarantee as per the order/direction of Hon'ble Rajasthan High Court CRHC). The Company has filed writ petition in High court and the RHC had further passed an order allowing the Company's writ petition on April 29, 2011. The said order was challenged by RIICO Ltd in writ revision petition dated May 20, 2011. The RIICO Ltd had then filed D.B.Special Appeal (writ) on May 14, 2013 against the orders of RHC and the matter was sub-judice.

The Company has been confident of receiving the entire claim made, however, during the current year the matter has been settled and the Company received Rs. 240.86 as final relief towards the damages claimed by the Company in addition to the amount received earlier. The Company has disclosed the same as "extra-ordinary item".

3. Employee Stock Option Plan

a. Employee Stock Option Scheme "ESOS-2012" (Amounts are in Indian Rupees)

The Company has reserved issuance of 7,945,000 (March 31, 2014: 7,945,000) equity shares of face value of Re.1 each for offering to eligible employees of the Company under Employees Stock Option Scheme-2012 (ESOS-2012). During the year, the Company has granted 442,700 options at a price of Rs. 27.10 per option. In the earlier years, the Company has granted 2,397,600 options, which includes 1,815,600 options at a price of Rs.7 per option (adjusted for shares issued pursuant to scheme of arrangement), 582,000 options at a price of Rs.6 per option (adjusted for shares issued pursuant to scheme of arrangement). The options would vest over a maximum period of 6 years or such other period as may be decided by the Nomination and Remuneration Committee from the date of grant based on specified criteria.

The details of options outstanding of ESOS-2012:

b) Disclosures related to defined benefit plan

The Employees' Gratuity Fund Scheme managed by a trust is a defined benefit gratuity plan which is administered through Group Gratuity Scheme with Life Insurance Corporation of India. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days last drawn salary for each completed year of service.

c) Notes:

1. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market

2. Percentage of plan assets as investments with insurer is 100%.

3. The expected rate of return on assets is based on the expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations.

4. In respect of the amounts mentioned under section 125 of the Companies Act, 2013 there are no dues that are to be credited to the investor education and protection fund as at March 31, 2015 Rs. Nil (March 31, 2014: Rs. Nil).

4. Related party disclosures

Names of related parties and description of relationship

Relationship

Name of the Party

Associates

M.KJ. Manufacturing Private Limited

Green tech Mega Food Park Private Limited

Genus Consortium

Joint ventures

Genus SA, Brazil

Enterprises in the control of the Management

J C Textiles Private Limited

Hi-Print Electro mack Private Limited

Genus Paper & Boards Limited

Genus Innovation Limited

Genus Apparels Limited

Genus Electrotech Limited

Virtuous Urja Limited (Associate upto June 30,2014)

Key managerial personnel

Mr. Ishwar Chand Agarwal

Mr. Rajendra Kumar Agarwal

Mr. Jitendra Kumar Agarwal

Relatives to key managerial personnel

Amit Agarwal (HUF)

Rajendra Kumar Agarwal (HUF)

5. Discontinuing operations

During the year ended March 31, 2015, pursuant to the approval of shareholders in the annual general meeting held on September 29, 2014, for the disposal of the Company's 'Home & Industrial Products' ("HIP") division (i.e. a complete range of Inverters/UPS, Solar PCU and Batteries) together with its assets and liabilities as a going concern on a 'slump sale1 basis for a consideration of Rs. 4,918.00 to Genus Innovation Limited, the Company has entered into an binding agreement on February 17, 2015, with Genus Innovation Limited to be effective from April 1,2015. The Company has received an advance of Rs. 1,900.00 towards the same.

6. Scheme of arrangement

During the year ended March 31, 2014, the Hon'ble High Court of Judicature at Allahabad vide its Order dated October 29, 2013 approved the Scheme of Arrangement ("the Scheme") among Genus Paper Products Limited OGPPL1), Genus Power Infrastructures Limited CGPIL1) and Genus Paper & Boards Limited CGPBL1). The said certified Order has been filed with the Registrar of Companies, Uttar Pradesh on November 29, 2013. On this date, the Scheme became effective from the Appointed Date of April 01, 2011. All the relevant Financial Statements have been re-casted/regrouped/rearranged to conform to the said Order of the Hon'ble High Court approving the Scheme. Pursuant to the Scheme, GPPL mainly engaged in the business of manufacturing and trading of kraft papers, boards and steel (ms ingots) has been amalgamated with GPIL and the non-power infrastructures business / undertaking of GPIL has been demerged on the same day into GPBL Pursuant to the Scheme:

i. the assets, liabilities, rights and obligations of erstwhile GPPL have been vested with GPIL from the appointed date i.e., April 1, 2011 and have been recorded at their respective fair value, under the purchase method of accounting of amalgamation.

ii. 97,719,120 equity shares represent the face value of Rs. 977.19 was issued to the shareholders of GPPL on amalgamation (74,769,120 equity shares of face value of Re.1 each issued against equity share capital of the erstwhile GPPL as on April 1, 2011 and 7,350,000 equity shares of face value of Re.1 each issued against the preference share capital converted by the erstwhile GPPL during the year 2011-12 and 15,600,000 equity shares of face value of Re.1 each issued as fresh allotment against share application money received by the erstwhile GPPL during the year 2011-12), in the ratio of 24 (twenty four) fully paid-up equity shares of face value of Re.1 each of the GPIL for every 100 (hundred) fully paid-up equity shares of face value of Re.1 each of the GPPL, whose names are registered in the register of member on the record/specified date, without payment being received in cash.)

iii. excess of the fair value of net assets taken over by the GPIL over the paid-up value of equity shares issued and allotted (as referred under clause (ii) above) amounts to Rs. 17,538.59 and the same has been credited to capital reserve as prescribed in the Scheme.

v. the assets, liabilities, rights and obligations of non-power infrastructure business/undertaking of GPIL has been transferred to GPBL with effect from April 1, 2011 at their respective book value.

vi. excess of the book value of net assets transferred by the Company amounts to Rs. 27,225.00 and the same has been credited to Capital Reserve, Capital Redemption Reserve and Share Premium, respectively as prescribed in the Scheme.

viii. considerable impact of transactions (i.e. Rs. 1,905.65) entered into on behalf of demerged business/undertaking after the appointed date i.e., April 01, 2011 has been accounted for in the books of account.

7. Leases - operating leases

Operating leases are mainly in the nature of lease of office premises with no restrictions and are renewable/ cancellable at the option of either of the parties. There are no sub-leases. There are no restrictions imposed by lease arrangements. The aggregate amount of operating lease expenses recognised in the statement of profit and loss is Rs. 179.58 (March 31, 2014: Rs. 190.65).

a. Contingent liabilities of the above joint venture Rs. Nil (December 31, 2013: Rs Nil).

b. Capital commitments of the above joint venture Rs. Nil (December 31, 2013: Rs Nil)

c. All figures presented above represents Company's share only.

8. In accordance with the provisions of Schedule II of the Companies Act, 2013, the Company has revised the estimated useful lives of fixed assets with effect from April 01, 2014. Accordingly, the net-book value of the fixed assets as on April 01, 2014, is depreciated on a prospective basis over the remaining useful life, wherever applicable. This change in accounting estimate has resulted in increase in depreciation and amortization expenses for the year ended March 31, 2015 by Rs. 93.17 with a corresponding decrease in the net book value of the fixed assets and reserves and surplus of the Company.

In addition, as per the provision of Schedule II read with notification dated August 29, 2014 issued by the Ministry of Corporate Affairs, the Company has opted to charge off to statement of profit and loss the carrying amount of certain fixed assets, amounting to Rs. 84.46, where remaining useful life was "Nil" as on April 01, 2014.

9. The Company has spent Rs. 94.21 against total requirement of Rs. 91.47 as per section 135 of the Companies Act, 2013. The amount contributed towards CSR activities are for various items mentioned in Schedule VII of the Companies Act, 2013 and is as approved by the CSR Committee.

10. Segment reporting

Primary segment

The Company is primarily engaged in the business of 'Metering & Metering Solutions', 'Power Backup including Solar Backup & Solar On-Grid Solutions', and 'Engineering, Construction and Contracts for power distribution & transmission sector', which relate to one segment only i.e. Power segment

11. Previous year figures have been audited by one of the existing joint auditors other than S.R. Batliboi & Associates LLP. Previous year figures have been regrouped / reclassified, wherever necessary to conform to those of current period's classification.


Mar 31, 2014

Terms/ Rights attached to equity shares:

The Company has only one class of equity shares having par value of Rs.1 per share Each holder of equity shares is entitled to one vote per share The Company declares and pays dividends In Indian rupees The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of preferential amounts The distribution will be in proportion to the number of equity shares held by the shareholders.

Shares reserved for issue under options:

The Company has reserved issuance of 79,45,000 (Previous year 79,45,000) Equity Shares of face value of Rs.1 each for offering to eligible employees of the Company under Employees Stock Option Scheme-2012 (ESOS-2012) During the year, the Company has not granted any options to the eligible employees [Previous year 23,97,000 options, which includes 18,15,600 options at a price of Rs.7 per option (adjusted for shares issued pursuant to scheme of arrangement) and 5,82,000 options at a price of Rs.6 per option (adjusted for shares issued pursuant to scheme of arrangement) plus all applicable taxes, as may be levied in this regard on the Company The options would vest over a maximum period of 6 years or such other period as may be decided by the Nomination and Remuneration Committee from the date of grant based on specified criteria.

Long-term borrowings:

Notes:

(1) Term Loan (ECB i.e External Commercial Borrowings) of Rs.3,279.45 Lacs (Previous Year: Rs.3,577.01 Lacs) Is secured by first exclusive charge on the entire fixed assets of Company’s Jaipur Unit-ll situated at Plot No SP-1-2317, Ramchandpura, Sitapura extension, Jaipur (Rajasthan) and Haridwar Unit-ll situated at Plot No.9, Sector-2, SIDCUL, Haridwar, (Uttarakhand) including immovable properties, present and future acquired out of ECB and personal guarantees of promoter directors.

(2) Vehicle loans from banks and non banking financial companies are secured by way of hypothecation of the vehicles financed by them under the finance scheme.

(3) Interest on ECB will be paid at 6 month USD Libor 280 BPS p.a payable quarterly (Libor to be reset quarterly).

Short-term borrowings:

Notes:

(1) Cash credit, working capital loans and foreign currency loans of Rs.25,048.28 Lacs (Previous Year: Rs.23,357.71 Lacs) under consortium arrangement from Bank of Baroda, State Bank of India, Punjab National Bank, IDBI Bank Ltd, State Bank of Bikaner and Jaipur, Axis Bank and Export Import Bank of India are secured byway of hypothecation of stocks and book debts of the Company, both present and future, on first pari passu basis, and collateral security by way of 1st pari-passu charges on the entire unencumbered fixed assets of the Company and equitable mortgage of properties on pari-passu basis situated at SPL-3A & SPL-2A, Sitapura, Jaipur and Plot No.12, Sector-4, IIE Haridwar and further secured by personal guarantee of some of the promoter directors and others.

Contingent liabilities and commitments (to the extent not provided for):

(i) Capital commitments:

PARTICULARS As at As at March 31, 2014 March 31, 2013 (Rs. in Lacs) (Rs. in Lacs)

The estimated amount of contracts remaining to be executed on capital account, to the extent not provided for (net of advances) 685.26 591.78

(ii) Contingent liabilities (to the extent not provided for):

PARTICULARS As at As at March 31, 2014 March 31, 2013 (Rs. in Lacs) (Rs. in Lacs)

Claims (net of counter claim filed by the Company) made against the Company but not acknowledged as debts as these are not tenable in the opinion of the management of the Company. 683.77 199.28

Corporate guarantees to banks / financial institutions to secure the credit facilities of associate. 25,000.00 18,500.00

Bank guarantee facility availed from bank for associate. 500.00 500.00

Counter guarantees given by the Company against Bank Guarantees issued by banks and against which margin money of Rs. 1,767.73 Lacs (Previous Year: Rs. 1,698.43 Lacs) was provided in the form of FDRs. 41,390.38 40,194.49

Letters of credit outstanding at the end of the year, against which material was to be received and against which margin money of Rs. 71.69 Lacs (Previous Year Rs. 117.77 Lacs) was given in the form of FDRs. 1,512.09 2,349.18

Income-tax demands contested in appeals. (In view of the settled case laws, decisions of appellate authorities in earlier years on similar issues in favour of company and/or on merits, the management is of the opinion that no material impact is likely to result.) 3,215.96 2,344.60

Disputed demand of excise and service tax against which Rs.135.70 Lacs (Previous Year: Rs.131.72 Lacs) deposited under protest. (No provision has been made in accounts since the Company has disputed the said demands and filed the appeals with the respective appellate authorities.) 243.96 248.64

Disputed demand of custom duty (The custom assessing officer taking misinterpretation of case has changed the classification in other sub-heading and created demand. The Company had deposited entire amount under protest and filed an appeal against the order and the same is under consideration of Commissioner Customs (Appeal)). 62.97 -

Disputed demand of CST and VAT against which Rs.417.69 Lacs (Previous Year: Rs.331.00 Lacs) deposited under protest. (In opinion of the management, no provision is considered necessary for disputed demands on the grounds that there are reasonable chances of successful outcome of appeals filed with the respective appellate authorities.) 3,222.61 2,046.83

The compensation/adhoc relief from IOCL through RIICO was received in July, 2010 on account of blast/ fire incident on October 29, 2009 at IOCL depot adjoining to Jaipur unit of the Company. The same has been charged to revenue. However, the RIICO Ltd has further filed D.B. Special Appeal (Writ) on May 14, 2013 against the orders of RHC and decision is still pending. 1,417.62 1,417.62

Disclosure of employee benefits (pursuant to revised Accounting Standard 15):

(i) Defined contribution plan:

The Company''s contributions paid/payable to Provident Fund, Employees State Insurance Scheme, Employees Pension Schemes, 1995 and Other Funds, are determined under the relevant approved schemes and/or statutes and are recognized as expense in the statement of profit and loss during the period in which the employee renders the related service There are no further obligations other than the contributions payable to the approved trusts/appropriate authorities The contribution to Provident Fund and Other Funds of Rs.271.53 Lacs (Previous Year: Rs.279.41 Lacs) is recognised as expenses in the statement of profit and loss.

(ii) Defined benefit plan:

Gratuity: The Company makes annual contributions to the ''Employee Group Gratuity-cum-Life Assurance (Cash Accumulation) Scheme'' of Life Insurance Corporation of India, a funded defined benefit plan for qualifying employees Gratuity is payable to all eligible employees on retirement, death oron leaving service in terms of the provisions of the Payment of Gratuity Act, 1972.

Leave encashment: Leave encashment is payable to eligible employees who have earned leaves, during the employment and/or on separation as per the Company’s policy Leave encashment benefits to eligible employees has been ascertained on actuarial basis and provided for.

Amount Transferred to the Investor Education and Protection Fund ("IEPF"):

Pursuant to Section 205C of the Companies Act, 1956 and the Investor Education and Protection Fund (‘IEPF’) (Awareness and Protection of Investor) Rules, 2001, during the year 2013-14, a sum of Rs.5.08 Lacs (Interim Dividend for the year 2005-06) being unpaid/unclaimed dividend for a period of 7 years, have been transferred to the IEPF.

The Company is primarily engaged in the business of ''Metering & Metering Solutions'', ''Power Backup including Solar Backup & Solar On- Grid Solutions'', and ''Engineering, Construction and Contracts for power distribution & transmission sector'', which relate to one segment only i.e Power segment.

Disclosures under the Micro, Small and Medium Enterprises Development Act, 2006:

A sum of Rs.79.16 Lacs is payable to Micro and Small Enterprises as at March 31,2014 (Previous Year: Rs.23.60 Lacs) There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days during the year and also as at March 31,2014 This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

Scheme of Arrangement:

During the year under review, the Hon’ble High Court of Judicature at Allahabad vide its Order dated October 29, 2013 approved the Scheme of Arrangement ("the Scheme") among Genus Paper Products Limited (''GPPL''), Genus Power Infrastructures Limited (''GPIL'') and Genus Paper & Boards Limited (''GPBL'') The said certified Order has been filed with the Registrar of Companies, Uttar Pradesh on November 29, 2013 On this date, the Scheme became effective from the Appointed Date of April 01, 2011 All the relevant Financial Statements have been recasted/regrouped/rearranged to conform to the said Order of the Hon''ble High Court approving the Scheme. Pursuant to the Scheme, GPPL mainly engaged in the business of manufacturing and trading of kraft papers, boards and steel (ms ingots) has been amalgamated with GPIL and the non-power infrastructures business/undertaking of GPIL has been demerged on the same day into GPBL Pursuant to the Scheme,;

(i) the assets, liabilities, rights and obligations of erstwhile GPPL have been vested with GPIL from the appointed date i.e., April 1,2011 and have been recorded at their respective fair value, under the purchase method of accounting of amalgamation.

(ii) 9,77,19,120 equity shares represent the face value of Rs.9,77,19,120 was issued to the shareholders of GPPL on amalgamation (7,47,69,120 equity shares of face value of Rs.1 each issued against equity share capital of the erstwhile GPPL as on April 1,2011 and 73,50,000 equity shares of face value of Rs.1 each issued against the preference share capital converted by the erstwhile GPPL during the year 2011 -12 and 1,56,00,000 equity shares of face value of Rs 1 each issued as fresh allotment against share application money received by the erstwhile GPPL during the year 2011 -12), in the ratio of 24 (twenty four) fully paid-up equity shares of face value of Rs.1 each of the GPIL for every 100 (hundred) fully paid-up equity shares of face value of Rs.1 each of the GPPL, whose names are registered in the register of member on the record/specified date, without payment being received in cash.)

(iii) excess of the fair value of net assets taken over by the GPIL over the paid-up value of equity shares issued and allotted (as referred under clause (ii) above) amounts to Rs.17,538.59 Lacs and the same has been credited to capital reserve as prescribed in the Scheme.

Dividend proposed to be distributed to equity shareholders:

The Board of Directors of the Company have recommended a dividend of 10% i.e Rs.0.10 per equity share on equity shares of the face value of Rs.1 each (tax free In the hands of the shareholders) for the financial year ended March 31 2014 (Previous Year: 10% I.e Rs.0.10 per equity share of face value of Rs.1 each) The proposed dividend, if approved by the members at the Annual General Meeting, will absorb a sum of Rs.256.63 Lacs (excluding dividend tax) (Previous year: Rs.158.91 Lacs).

Capitalization of exchange differences:

The Ministry of Corporate Affairs (MCA) has Issued the amendment dated December 29, 2011 to Accounting Standard (AS) 11 ''The Effects of Changes in Foreign Exchange Rates,''to allow companies deferral/capitalization of exchange differences arising on long-term foreign currency monetary items In accordance with the amendment to AS 11 the Company has capitalized exchange loss, arising on long-term foreign currency loan, amounting to Rs.386.97 Lacs (Reflected as ''Foreign Currency Translation Reserve'' in'' Reserve & Surplus'') (Previous year: Rs.149.56 Lacs).

The previous year''s figures have been reworked, regrouped, rearranged and reclassified, wherever necessary Amounts and other disclosures for the preceding year are Included as an integral part of the current year financial statements and are to be read In relation to the amounts and other disclosures relating to the current year.


Mar 31, 2013

1 Corporate information:

Genus Power Infrastructures Limited (referred to as "Genus" or the "Company") is primarily engaged in the business of smart metering solutions, distribution transformer metering system, smart street lighting system, inverters, on-line UPS, batteries and transformers and undertaking ''Engineering, Construction and Contracts'' projects in Power Distribution & Transmission Sector, on turnkey basis.

2 (1) Extraordinary items Rs.75.76 lac (Previous Year: Rs.Nil ) relates to followings:- (a) The compensation/adhoc relief from IOCL through RIICO aggregating to Rs.1,417.62 lac was received in July, 2010 on account of blast/fire incident on October 29, 2009 at IOCL depot adjoining to Jaipur unit of the Company against submission of bank guarantee as per the order/direction of Hon''ble Rajasthan High Court (''RHC''). The RHC has further passed order allowing our writ petition on April 29, 2011. The said order has further been challenged by RIICO Ltd in writ revision petition dated May 20, 2011.This revision petition was also rejected by RHC on February 27, 2013, hence now it charged to revenue. However, the RIICO Ltd has further filed D.B.Special Appeal (Writ) on May 14, 2013 against the orders of RHC and decision is still pending. (b) Written off Book debts of Rs.1341.86 lac, which represent various deductions made by customers in respect of sales made in earlier years.

3 Disclosure of employee benefits (pursuant to revised Accounting Standard 15): (i) Defined contribution plan:

The Company''s contributions paid/payable to Provident Fund, Employees State Insurance Scheme, Employees Pension Schemes, 1995 and other funds, are determined under the relevant approved schemes and/or statutes and are recognized as expense in the statement of profit and loss during the period in which the employee renders the related service. There are no further obligations other than the contributions payable to the approved trusts/appropriate authorities. The contribution to Provident Fund and Other Funds of Rs.279.41 lacs (Previous Year: Rs.201.45 lacs) is recognised as expenses in the statement of profit and loss.

(ii) Defined benefit plan:

Gratuity: The Company makes annual contributions to the ''Employee Group Gratuity-cum-Life Assurance (Cash Accumulation) Scheme'' of Life Insurance Corporation of India, a funded defined benefit plan for qualifying employees. Gratuity is payable to all eligible employees on retirement, death or on leaving service in terms of the provisions of the Payment of Gratuity Act, 1972.

Leave encashment:Leave encashment is payable to eligible employees who have earned leaves,during the employment and/or on separation as per the Company''s policy. Leave encashment benefits to eligible employees has been ascertained on actuarial basis and provided for.

4 Amount Transferred to the Investor Education and Protection Fund (''IEPF''):

Pursuant to Section 205C of the Companies Act, 1956 and the Investor Education and Protection Fund (''IEPF'') (Awareness and Protection of Investor) Rules, 2001, during the year 2012-13, a sum of Rs.5.36 lac (Interim Dividend for the year 2004-05) and Rs.2.62 lac (Final Dividend for the year 2004-05) being unpaid/unclaimed dividend for a period of 7 years, have been transferred to the IEPF. Further, the Company has also transferred the unpaid/unclaimed dividend of Rs.5.08 lac (Interim Dividend for the year 2005-06) in May, 2013.

5 The Company is primarily engaged in the business of ''Metering Solutions'', ''Engineering, Construction and Contracts in Power Distribution & Transmission Sector on turnkey basis'', ''UPS'' ''Inverter'' and Batteries, which relate to one segment only i.e. Power segment.

6 Disclosures under the Micro, Small and Medium Enterprises Development Act, 2006:

A sum of Rs.14.76 lac is payable to Micro and Small Enterprises as at March 31, 2013 (Previous Year: Rs.65.53 lac). There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days during the year and also as at March 31, 2013. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

7 Scheme of Arrangement:

A Scheme of Arrangement ("Scheme”) which provides for the amalgamation of ''Genus Paper Products Limited'' into ''Genus Power Infrastructures Limited'' and demerger of ''Non Power Infrastructure Undertaking/Business'' of Genus Power Infrastructures Limited into Genus Paper & Boards Limited after getting all clearances from the Board of Directors and all stakeholders/ creditors has been filed with the High Court of Judicature at Allahabad. The matter is now with the Hon''ble High Court of Judicature at Allahabad, for final approval.

8 Consolidation of accounts in respect of Subsidiary Company:

The Company does not have any material non-listed Indian subsidiary. The Company has only one subsidiary company namely ''Genus Paper & Board Limited'', which has not started any commercial activity as yet. This subsidiary is incorporated exclusively for/under the Scheme of Arrangement as discussed above. Under the said Scheme, Genus Paper Products Limited is proposed to be merged into the Company and the ''non- power infrastructure undertaking/business'' of the Company shall be demerged into a 100% subsidiary of the Company namely ''Genus Paper & Board Limited'', w.e.f. April 01, 2011 immediately after the requisite approvals of the appropriate authorities are received. The control on subsidiary company is intended to be temporary because as on the date of implementation of the said demerger scheme, the status of subsidiary company may not exist.

9 Dividend proposed to be distributed to equity shareholders:

The Board of Directors of the Company have recommended a dividend of 10% i.e. Re.0.10 per equity share on equity shares of the face value of Re.1/- each (tax free in the hands of the shareholders) for the financial year ended March 31, 2013 (Previous Year: 10% i.e. Re.0.10 per equity share of face value of Re.1/- each). The proposed dividend, if approved by the members at the Annual General Meeting, will absorb a sum of Rs.158.91 lacs (excluding dividend tax) (Previous Year: Rs.158.91 lacs).

10 Capitalization of exchange differences:

The Ministry of Corporate Affairs (MCA) has issued the amendment dated December 29, 2011 to Accounting Standard (AS) 11 "The Effects of Changes in Foreign Exchange Rates,” to allow companies deferral / capitalization of exchange differences arising on long-term foreign currency monetary items. In accordance with the amendment to AS 11, the company has capitalized exchange loss, arising on long-term foreign currency loan, amounting to Rs.149.56 lac (Reflected as ''Foreign Currency Translation Reserve'' in ''Reserve & Surplus'') (Previous year: Rs.85.13 lac).


Mar 31, 2011

(1) The previous year's figures have been regrouped, rearranged and reclassified, wherever necessary to conform to current year's classification and/or to make it comparable.

(2) The Company is primarily engaged in the business of 'Metering Solutions', 'Engineering, Construction and Contracts in Power Distribution & Transmission Sector on turnkey basis', 'UPS', 'Inverters' and 'Transformers', which relate to one segment only i.e. Power segment.

(2) Contingent liabilities (to the extent not provided for):

(Rs. in Lacs)

S. Particulars As at As at No. 31.03.2011 31.03.2010

1 Counter guarantees given by the Company 37,554.55 34,061.69 against Bank Guarantees issued by banks and against which Margin money of Rs.1,796.36 lacs (Previous Year: Rs.1,708.26 lacs) was provided in the form of FDRs.

2 Letters of Credit outstanding at the 2,992.17 2,762.47 end of the year, against which mater -ial was to be received and against which margin money of Rs.530.44 lacs (Previous Year: Rs.574.43 lacs) was given in the form of FDRs.

3 Income-tax demands contested in 4,658.46 1,233.27 appeals.

(In view of the settled case laws, decisions of Appellate Authorities in earlier years' on similar issues in favour of company and/or on merits, the management is of the opinion that no material impact is likely to result.)

4 Disputed demand of excise and service 399.31 354.16 tax against which Rs.55.31 lacs (Previous Year: Rs.76.93 lacs) deposited under protest. (No provision has been made in accounts since the Company has disputed the said demands and filed the appeals with the respective appellate authorities.)

5 Disputed demand of CST and VAT against 446.22 1043.15 which Rs.35.11 lacs (Previous Year: Rs.150.17 lacs) deposited under protest. (In opinion of the management, no provision is considered necessary for disputed demands on the grounds that there are reasonable chances of successful outcome of appeals filed with the respective appellate authorities.)

6 Corporate Guarantees to banks / 10,200.00 5,000.00 financial institutions to secure the credit facilities.

7 Bank Guarantee facility availed 500.00 500.00 from bank for Joint Venture.

8 Claims (Net of counter claim filed 208.13 162.31 by the Company) made against the Company but not acknowledged as debts as these are not tenable in the opinion of the management of the Company.

(3) The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. There are no overdue to parties on account of principal amount and/or interest and accordingly no additional disclosures have been made.

(4) Out of 1,10,00,000 (restated on account of split of shares) convertible warrants issued to one of the promoters of the Company, 40,00,000 warrants were converted into 40,00,000 fully paid-up equity share of Re.1/- each at a price of Rs.19/- per equity share including a premium of Rs.18/- per share on 11th February, 2011. The aforesaid equity shares rank pari passu in all respects including dividend with the existing equity shares of the Company.

(5) During the year under review, the Company has splitted/sub-divided its equity shares of the face value of Rs.10/- each into ten equity shares of face value of Re.1/- each in order to improve the liquidity of the Company's shares in the stock market and to make it affordable to the small investors to purchase the equity shares of the Company.

(6) Expenses amounting to Rs.4.91 lacs (Previous Year: Rs. 11.65 lacs) related to earlier years have been debited to the respective heads in the Profit and Loss Account.

(7) Extraordinary items represent the insurance claim of Rs.631.07 lacs (Net of Taxes) (Gross of Rs.788.17 lacs) received from insurance company towards loss of assets in a fire/blast incidence at IOCL depot adjoining to Jaipur unit of the Company on 29th October, 2009.

(8) The compensation/adhoc relief from IOCL through RIICO aggregating to Rs.1,417.62 lacs received in July, 2010 on account of blast/ fire incident on 29th Oct., 2009 at IOCL depot adjoining to Jaipur unit of the Company against submission of Bank Guarantee as per the order/direction of Hon'ble Rajasthan High Court ('RHC'). The RHC has passed order allowing our writ petition on 29-04-2011. The said order has further been challenged by RIICO Ltd. in writ revision petition dated 20-05-2011 and the same is under consideration of RHC. In view of above, the said adhoc relief is subject to final decision of Hon'ble Rajasthan High Court, hence it has not been charged to Revenue.

(9) Outstanding balances of Debtors, Creditors, Loans and Advances are subject to confirmation/reconciliation.

(10) Pursuant to Section 205A(5) of the Companies Act, 1956 and the Investor Education & Protection Fund (Awareness & Protection of Investor) Rules, 2001, during the year 2010-11 a sum of Rs.4.25 lacs being unclaimed/ unpaid dividend for the year 2002-03 has been transferred to the Investor Education & Protection Fund.

(11) Related Party Disclosures:

As required by Accounting Standard-18, the disclosure of transactions with the related parties as defined in the Accounting Standard, are given below:

(a) List of related parties with whom the Company has entered into transactions during the year:

Key Management Personnel

- Mr. I.C. Agarwal - Mr. Kailash Chandra Agarwal (w.e.f. 24.01.2011)

- Mr. Rajendra Kumar Agarwal - Mr. Jitendra Kumar Agarwal

- Mr. Giriraj Kishore Sharma

Relatives of Key Management Personnel

- R.K. Agarwal-HUF - J.K. Agarwal-HUF

Enterprises where the key managerial personnel along with their relatives exercise significant influence

- Genus Electrotech Ltd. - Kailash Coal And Coke Company Ltd.

- Genus Innovation Ltd. - Genus Apparels Ltd.

- Vivekshil Dealers Pvt. Ltd. - Genus International Commodities Ltd.

- Jay Narayan Bajranglal Todi - L.M. Sagar Exports Trust

- Hi-Print Electromack Pvt. - Amit Agarwal (HUF) Ltd.

- Virtuous Urja Ltd. - J C Textile Pvt. Ltd.

- K.C. Electrometers

Associates / Joint Venture

- M.K.J. Manufacturing Pvt. - Genus Paper Products Ltd. Ltd.

- Virtuous Infra Limited - Genus S.A., Brazil

- Genus Consortium

(21) Disclosure of Employee Benefits (Pursuant to Accounting Standard-15 (Revised)):

(a) Defined Contribution Plan:

The Company's contributions paid/payable to Provident Fund, Employees State Insurance Scheme, Employees Pension Schemes, 1995 and other funds, are determined under the relevant approved schemes and/or statutes and are recognized as expense in the Profit and Loss Account during the period in which the employee renders the related service. There are no further obligations other than the contributions payable to the approved trusts/appropriate authorities.

Contribution to Provident Fund and Other Funds: Rs.188.57 lacs (Previous Year Rs.153.32 lacs) is recognised as expenses and included in “Employees' Remuneration and Benefits” – Schedule-14 in the Profit and Loss Account.

(b) Defined Benefit Plan:

Gratuity: The Company makes annual contributions to the 'Employee Group Gratuity-cum-Life Assurance (Cash Accumulation) Scheme' of Life Insurance Corporation of India, a funded defined benefit plan for qualifying employees. Gratuity is payable to all eligible employees on retirement, death or on leaving service in terms of the provisions of the Payment of Gratuity Act, 1972.

Leave encashment is payable to eligible employees who have earned leaves, during the employment and/or on separation as per the Company's policy. Leave encashment benefits to eligible employees has been ascertained on actuarial basis and provided for.

(vi) Investment details:

Gratuity amount invested in cash accumulation scheme of LIC of India.


Mar 31, 2010

(1) The previous years figures have been regrouped, rearranged and reclassified wherever necessary.

(2) The Company is primarily engaged in business of Electronic Energy Metering, Engineering, Construction & Contracts Projects of Power Sector on turnkey basis, UPS, Inverters, Poles and Transformers, which relate to one segment only i.e. Power segment.

(3) The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. There are no overdue to parties on account of principal amount and/or interest and accordingly no additional disclosure have been made.

(4) Contingent liabilities not provided for, in respect of:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) is Rs.270.31 lacs (Previous year Rs.30.01 lacs).

(b) Counter guarantees given by the company against Bank Guarantees issued for Rs.34061.69 lacs (previous year Rs.31504.47Iacs). Margin money provided in the form of FDRs of Rs.1708.26 lacs (Previous year Rs.2626.75 lacs).

(c) Letter of Credit opened and pending at the end of the year for Rs. 2762.47 lacs (Previous year Rs.2775.37 lacs) against which material was to be received and against which margin money in the form of FDRs were Rs.574.43 lacs (Previous year Rs.745.90 lacs).

(d) Income-tax demands of Rs.1233.27 lacs (net of refund) (Previous year Rs.344.32 lacs) in respect of earlier years are pending on certain disallowances. The management is of the opinion that in view of the settled case laws, decision of Appellate Authorities in earlier years on similar issues in favour of the Company and/or on merits, no material impact is likely to result.

(e) Disputed demand of excise and service tax of Rs.354.16 lacs (Previous year Rs.84.68 lacs) against which Rs.76.93 lacs (Previous year Rs.76.93 lacs) deposited under protest. No provision has been made in accounts since company disputed the demands and appealed with the respective Appellate Authorities.

(f) Disputed demand of CST and VAT of Rs.1043.15 lacs (Previous year Rs.290.46 lacs) against which Rs.150.1 7 lacs (Previous year Rs.6.32 lacs) deposited under protest. In opinion of the management, no provision is considered necessary for disputed demands on the grounds that there are reasonable chances of successful outcome of appeals filed with the respective Appellate Authorities.

(g) Customs duty demand of Rs. Nil (Previous years Rs.12.40 lacs) on account of non fulfillment of export obligation in respect of EPCG license.

(h) The company has given corporate guarantee of Rs.5000.00 lacs (Previous year Rs.3600.00 lacs) to Axis Bank against non fund based Iimit to M/s Virtuous Urja Ltd.

(i) The company has been availing bank guarantee facility of Rs.500.00 lacs (Previous year Rs.500.00 lacs) from SBBj for joint Venture Company i.e. M/s Genus Consortium.

(j) Certain claims made against the Company amounting to Rs.162.31 lacs (Previous year Rs.138.53 lacs), which the management of the Company believes are not tenable and hence these claims have not been acknowledged as debts.

(5) An amount equivalent to the 25% (Rs.522.50 lacs) of the consideration determined in terms of regulation 76 of SEBI (Issue of Capital and Disclosure Requirements) Regulation, 2009, received towards subscription money for allotment of 1100000 convertible warrants at a price of Rs.190/- per equity share (including a premium of Rs.180/- per share) to M/s. Vivekshil Dealers Pvt. Ltd. (one of the promoters of the Company).

(6) During the year, the Company has redeemed 88 Unsecured NCDs (Non Convertible Debentures) of face value of Rs.100.00 lacs each for an aggregate face value of Rs.8800.00 lacs.

(7) During the year, the Company has redeemed, 500000 - 10% RedeemabIe Preference Shares of Rs.100/- each for an aggregate face value of Rs.500.00 lacs. The said preference shares were redeemed out of the preference shares capital redemption reserves account created out of profits of the Company.

(8) Expenses amounting to Rs.11.65 lacs related to earlier years have been debited to the respective heads in the profit & loss account.

(9) Extraordinary/Exceptional items of Rs.2507.25 lacs consist of loss of assets due to fire/blast incident at IOCL depot adjoining to jaipur unit of the Company. The details of the said losses are asunder:

. Fixed Assets (at WDV) amounted to Rs.943.78 lacs (Cross value of Rs.2454.73 lacs).

. lnventories of Rs.1135.06 Iacs.

. Expenditure/provisions on repair of partly damaged assets of Rs.428.41 lacs.

The assets of the company were insured and accordingly the claim of Rs.3636.68 lacs has been filed with the Insurance Company and the same is pending as on date. The loss due to fire/blast as stated above, has been debited to the Profit & Loss Account. The amount of claim as and when received shall be credited to the Profit & Loss Account in due course.

(10) Event occurring after the date of Balance Sheet:

. Compensation /adhoc relief from IOCL through RIICO aggregating to Rs.1417.62 lacs received in July, 2010 on account of blast/ fire incident on 29th Oct., 2009 at IOCL depot adjoining to Jaipur unit of the Company against submission of Bank Guarantee as per the order/direction of Honble Rajasthan High Court. The said adhoc relief is subjectto the final decision of Honble Rajasthan High Court.

(11) Outstanding balances of Debtors, Creditors and Loans &Advances are subject to confirmation / reconciIiation.

(12) Pursuant to section 205C of the Companies Act, 1956 and the Investor Education & Protection Fund (Awareness & Protection of Investor) Rules, 2001, during the year 2009-10 a sum of Rs.7.74 lacs being unclaimed/ unpaid dividend for the year 2001-02 has been transferred to the Investor Education& Protection Fund.

(13) Related party Disclosures:

1. Related Party Disclosures, as required by Accounting Standard 18, "Related Party Disclosures", issued by the Institute of Chartered Accountants of India are given below:

(a) Key Management Personnel : Mr. I.C.Agarwal

: Mr. Rajendra Kumar Agarwal : Mr. jitendra Kumar Agarwal : Mr. Ciriraj Kishore Sharma

(b) Relatives of Key Management Personnel: Nil

(c) Other Associates : M.K.j. Manufacturing Pvt. Ltd.

: Genus Consortium

(d) joint Venture : Genus S.A, Brazil

(e) Enterprises where the key managerial personnel along with their relatives exercise significant influence:

: Genus Electrotech Ltd.

: Genus Apparels Ltd.

: Genus Paper Products Ltd

: Genus Innovation Ltd.

: Genus International Commodities Ltd.

: KaiIash Coal & Coke Company Ltd.

: jay Narayan BajrangIaI Todi Trust

: L.M.Sagar Exports

: Hi-Print Electromack Pvt. Ltd.

: Amit AgarwaI (HUF)

: R.K. Agarwal (HUF)

: Virtuous Urja Ltd.

: jC TextiIe Pvt. Ltd.

: K.C. Electrometers

: Virtuous Infra Ltd.

: VivekshiI Dealers Pvt. Ltd.

The Company holds 4488000 ordinary shares of R$ 0.5504 each, 1300000 ordinary shares of R$ 1.000 each and 28940000 ordinary shares of® R$ 0.1382 each. The Companys interest in the joint ventures is reported as Long Term Investment (ScheduIe-6) and stated at cost.

(14) Disclosure pursuant to Accounting Standard-15 (Revised)- Employee Benefits

Defined Benefit Plan (Gratuity):

The foIIowing tables summaries the components of the net benefit expenses recognised in the Profit and Loss Account, the funds status and amount recognised in the Balance Sheet for the Cratuity Benefit Plan.