2008 - 2009 - Tata Investment Corporation Limited

46
Seventy-second annual report 2008 - 2009
Tata Investment Corporation Limited
6. Foreign exchange currency exposures not covered with regard to the deposit placed with Hatton National Bank, Colombo, of Sri Lankan Rs.64.25 lacs;
Previous Year Sri Lankan Rs.64.25 lacs (Equivalent Indian Rs.28.08 lacs; Previous Year Equivalent Indian Rs.23.90 lacs).
7. As the Company has no activities other than those of an investment company, the segment reporting under Accounting Standard 17 – “Segment
Reporting“ is not applicable. The Company does not have any reportable geographical segment.
8. In terms of the Letter of Offer, the Rights Issue proceeds of Rs.44774.23 lacs received during the year have been utilised towards the objects of the
issue of Zero Coupon Convertible Bonds (ZCCB) to make investments in a diversifi ed portfolio of quoted and unquoted securities including equity
shares / equity-linked securities, mutual funds, debenture / bonds, government securities, preference shares, deposits in companies and includes issue
related expenses.
9. Related Parties Disclosures
a) List of Related Parties and Relationship
Promoter and holding company
Tata Sons Ltd.
Associates
Tata Asset Management Ltd.
Tata Trustee Company Pvt. Ltd.
Landmark Ltd. (from 2.5.2008 till 26.3.2009)
Key Management Person (KMP)
Mr. M. J. Kotwal
Other subsidiaries of Promoter :- (with whom the Company has transactions)
1. Ewart Investments Limited 2. Infi niti Retail Limited
3. Panatone Finvest Limited 4. Tata Consultancy Services Limited
5. Tata Realty and Infrastructure Limited 6. Tata Securities Limited
7. Tata Sky Limited 8. Tata Teleservices (Maharashtra) Limited
9. Tata Teleservices Limited
b) Related Party Transactions Rupees (in lacs)
2008-09 2007-08
Promoter Associates Other
Subsidiaries
of Promoter
KMP Promoter Associates Other
Subsidiaries
of Promoter
1. Subscription to equity/preference shares/
convertible debentures — 39.70 — — 2000.00 — 107.33 —
2. Redemption proceeds of preference shares — — — — 1000.00 — — —
3. Dividends received 207.50 342.25 32.53 — 138.90 236.95 — —
4. Dividends Paid 2842.14 — 81.51 0.23 2090.50 — — 1.44
5. Standby arrangement fees received 112.36 — — — — — — —
6. Paid for services rendered in connection with
Rights Issue 28.09 — — — — — — —
7. Deposits placed 5000.00 — 11000.00 — — — 1100.00 —
8. Deposits withdrawn — — 7600.00 — — — — —
9. Interest on deposit placed 250.07 — 464.07 — — — 15.94 —
10. Purchase of investments 270.66 — — — — — — —
11. Subscription towards zero coupon convertible bonds 40010.82 — 706.45 5.14 — — — —
12. Brand equity subscription expense 59.55 — — — 59.00 — — —
13. Rent Reimbursement 0.51 — — — 0.51 — — —
14. Brokerage paid — — 4.40 — — — 1.14 —
15. Telephone call charges — — 1.03 — — — 0.18 —
16. Other expenses 44.49 — — — 33.24 — — —
17. Remuneration paid — — — 70.93 — — — 65.21
Debit balance outstanding at year end
outstanding receivables 5102.31 — 4529.33 — — — 1115.94 —
Credit balance outstanding at year end
outstanding payables 147.68 — 0.07 25.00 101.09 — 0.05 25.00
KMP