Ellora Paper Mills Limited is a public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. Its registered office is situated at 379, Pandit Jawaharlal Nehru Marg, Ashoka Vault Building, Sitabuldi, Nagpur- 440 012. Ellora Paper Mills Limited is engaged in the business of manufacture of paper products.

Note- 2: Contingent Liabilities and Commitments	
             
                                                       Figures in Rupees

Particulars	               As at 31st March         As at 31st March
					   2014	                    2013
Contingent Liabilities

Performance guarantees 
given by a bank	                       1,37,000	               11,37,000
		 
Total	                               1,37,000	               11,37,000

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is unfunded. The present value of obligation is determined based on acturaial valuation using Projected Unit Credit Method, which recognises each period of services as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.