There are no dues to Micro & Small Enterprises as at March 31, 2015. This information required to be disclosed under the Micro, Small & 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.

2. Employee Benefits:

The disclosures required under Accounting Standard 15 (Revised) "Employee Benefits" notified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014 are given below:

Defined Contribution Plan

Amount towards Defined Contribution Plan have been recognized under "Contribution to Provident and Other Funds" in Note 23: Rs. 7.20 lacs (Previous Year- Rs. 19.72 lacs).

Defined Benefit Plans

The Company has defined benefit plans for gratuity to eligible employees. The details of these defined benefit plans recognised in the financial statements are as under:

General Description of the Plan:

The Company operates a defined benefit plan (the Gratuity Plan) covering eligible employees, which provides a lump sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employees salary and the tenure of employment.

3. Segment Reporting:

The Company operates in a single business segment i.e. "Laying of Pipes". In the context of Accounting Standard 17, on Segment Reporting specified under section 133 of the Act, read with rule 7 of Companies (Accounts) Rules, 2014, it is considered to constitute one single primary segment.

4. Derivative Instruments:

The Company uses foreign currency forward contracts to hedge its risks associated with foreign currency fluctuations relating to certain firm commitments and forecasted transactions. The use of foreign currency forward contracts is governed by the Company's strategy approved by the Board of Directors, which provide principles on the use of such forward contracts consistent with the Company's Risk Management Policy. The Company does not use forward contracts for speculative purposes.

5. Revenue of Rs. 16,415.59 lacs pertains to the work executed by the Company, claims for fixed extended stay charges, AHR items, refund of liquidity damage/PRS due to cost over-run, deviation in design and change in scope of work, equipment rental, etc. These claims have been raised based on actual work execution, terms of contract and generally accepted business practice, for which Company is at various stage of negotiation/discussion on a continuing basis. The Company is also pursuing simultaneously option of arbitration. The Company has been legally advised that it has good case on merit in respect of these matters. Considering the contractual tenability, progress of negotiation/discussion with the clients, the management is confident of approval/acceptance of the claims.

6. The Company was awarded project execution work of "Saline Water Conversion Corporation" (SWCC) at Kingdom of Saudi Arabia jointly with "Arabian Pipeline Projects Company" (APPCO). As per the terms of the contract the Company had provided bank guarantee to "Arabian Pipeline Projects Company" (APPCO) and "Arabian Pipeline Projects Company" (APPCO) provided collective bank guarantee to "Saline Water Conversion Corporation" (SWCC). The Company successfully executed the project for two and half year. However "Arabian Pipeline Projects Company" (APPCO) was failing to provide the site clearance as per agreed terms in time and as a result the Company was not able to execute its part of contract. The project was proceeding slowly for no fault of the Company, resulted into cash crunch at Kingdom of Saudi Arabia site due to less turnover against the resources deployed without improvising/ making good the deficiencies and draw back on the part of "Arabian Pipeline Projects Company" (APPCO), the Company was issued notices by "Arabian Pipeline Projects Company" (APPCO) for various alleged defaults. To resolved the differences an understanding was arrived at between the Company and "Arabian Pipeline Projects Company" (APPCO) for execution of balance work by "Arabian Pipeline Projects Company" (APPCO). However "Arabian Pipeline Projects Company" (APPCO) could not execute the project satisfactorily and the progress of the work became very slow. The "Arabian Pipeline Projects Company" (APPCO) instead of improving upon its function at Kingdom of Saudi Arabia site, invoked BG of Rs. 6,051.04 lacs given by the Company against the terms and condition of understanding. The Company believes that this invocation is in violation of the terms of the agreement entered into with the "Arabian Pipeline Projects Company" (APPCO), moreover "Saline Water Conversion Corporation" (SWCC) has not invoked BG. The Company has disputed the BG invocation by "Arabian Pipeline Projects Company" (APPCO) before Hon'ble Civil Court, Ahmedabad. The Civil Court has granted stay on payment of bank guarantee till the final disposal of the suit. The Company has also referred the matter for arbitration before "The London Court of International Arbitration" as provided in the terms of contract. Pending the legal proceedings in the above matter, the Company has not given effect to the bank guarantee invoked by the "Arabian Pipeline Projects Company" (APPCO).

7. In respect of the contract work awarded by "Brahmaputra Cracker and Polymer Limited" (BCPL), the Company has raised claims of Rs. 39,899.91 lacs on "Brahmaputra Cracker and Polymer Limited" (BCPL) on account of client caused delay, deviation in design and change in scope of work etc. which are disputed by the client. The Company has referred the matter to arbitration. In the meantime "Brahmaputra Cracker and Polymer Limited" (BCPL) has invoked the bank guarantee of Rs. 4,738 lacs on April 17, 2015. Since the matter is pending before arbitration the Company has not given effect to the Assets and Liabilities as required under Accounting Standard (AS)-4 on "Contingencies and Events Occurring After the Balance Sheet Date", issued by the ICAI.

8. The Company has made investments in its subsidiaries aggregating to Rs. 665.00 lacs reported under "Non-Current Investments". Though there is erosion in the net worth, current year losses, legal cases by lenders and creditors against the said subsidiaries, based on the management's internal assessment regarding survival of the said subsidiaries, assessment regarding recovery of claims and dues from the customers, and legal opinion obtained by the management the diminution in value is temporary. Hence, the investments are valued at cost.

9. The Company had executed CDR agreement with its principal lenders but could not comply with the terms of the scheme for repayment of principal and interest, resulting into account becomes NPA. Hence, the Company has reversed Interest expense of Rs. 754.11 lacs on loans from banks by way of credit to "Interest Expenses" in statement of profit and loss account.

10. The Company could not repay principal and interest due to NBFCs as per the terms of the sanction since January-2015 resulting into account becoming NPA. Hence no provision of interest on loans from NBFCs aggregating to Rs. 2,215.02 lacs as on March 31, 2015 (Previous year Rs. 3,033.10 lacs) has been made.

11. The Company is yet to obtain balance confirmations from some of the debtors, creditors and parties to whom advances and deposits have been given. Adjustments, if necessary, will be made on receipt thereof.

12. There were old outstanding liabilities amounting to Rs. 1,353.21 lacs which were disputed / agitated by the Company for various reasons. There were old receivables and dues of Rs. 397.28 lacs which were in disputes. The Company had continuous verbal and written communication / representation and follow up without any success. These dues and receivables are older than three years. Based on the internal assessment and a legal opinion, the Company has written back the liabilities of Rs. 1,353.21 lacs and written off receivables of Rs. 397.28 lacs in the standalone financial statements.

13. Trade receivable of Rs. 12,013.96 lacs outstanding as at March 31, 2015 representing various claims raised in earlier years, based on the terms and conditions implicit in the contracts and receivables in respect of closed/suspended projects. These claims are mainly in respect of fixed extended stay charges, AHR items, refund of liquidity damage/PRS due to cost over-run, deviation in design and change in scope of work, equipment rental etc, for which the Company is at various stage of negotiation/discussion with clients or under arbitration. The Company has been legally advised that it has good case on merit in respect of these matters. Considering the contractual tenability, progress of negotiation/discussion with the clients, the management is confident of recovery of these receivables.

14. The Company was awarded project execution work of "Saline Water Conversion Corporation" (SWCC) at Kingdom of Saudi Arabia jointly with "Arabian Pipeline Projects Company" (APPCO) There were major dispute with "Arabian Pipeline Projects Company" (APPCO) for execution of the projects, co-ordination of work, delay in execution, cost overrun and deviation in design and change in scope of work. Bank guarantee of Rs. 6,051.04 lacs was invoked by the "Arabian Pipeline Projects Company" (APPCO) which is disputed by the Company. The Company has raised Claims of Rs. 42,292.77 lacs on "Arabian Pipeline Projects Company" (APPCO) for client caused delay, deviation in design, change in scope of work and equipment rental which is disputed by the "Arabian Pipeline Projects Company" (APPCO). The "Arabian Pipeline Projects Company" (APPCO) has taken over the control of the sites, assets, liabilities and project work allocated to Jaihind Projects Limited. The Company has referred this matter to "The London Court of International Arbitration" for arbitration. Since the matter is in dispute and Company does not have access to the financial statements and supporting of Joint project with "Arabian Pipeline Projects Company" (APPCO), the assets, liabilities, revenue and expenditure of project at Kingdom of Saudi Arabia are accounted for in the financial statements on the basis of unaudited financial information for project at Kingdom of Saudi Arabia available with the Company and it is summarized below. Based on the management's internal assessment and legal opinion obtained by the Company, the Company is fairly certain of realization of assets and dues from client as reported in these financial statements.

15. The Company has incurred Net Loss of Rs. 1,792.43 lacs during the year ended March 31, 2015. The Company has also failed to comply with the terms of CDR stipulated by CDR agreement dated March 29, 2013. The Company is implementing various long-term measures to improve its cash flow and revival of the operations of the Company. The Company is pursuing recovery of its claims raised against clients through persuasion, arbitration and legal remedy The Company is exploring multiple options of financial restructuring and is in discussions with lenders and other institutions to raise finance for revival of its operations, negotiating with strategic investors. On positive outcome of efforts in above direction, the Company will be able to make optimum utilization of its resources, renegotiate its contracts and complete the on-going projects to generate future cash flows, meet its financial obligations towards lenders and creditors. The Company believes that these measures will not only generate cash flows for revival but will also result in future orders and consequently sustainable cash flows. The promoters also continue to be committed to providing the required operational and financial support to Company in the foreseeable future. In view of the foregoing, the Company's financial statements have been prepared on a going concern basis whereby the realization of assets and discharge of liabilities are expected to occur in the normal course of business.

16. Previous year figures have been regrouped / reclassified wherever necessary to conform to current year's classification.