bs 08 mam - Educomp Solutions Ltd.

(Rupees in millions)
Particulars As on
31 st March 2008
As on
31 st March 2007
Not later than 1 year 40.66 9.48
Later than 1 year but not later than 5 years 83.67 30.84
Later than 5 years - 3.81
Total 124.33 44.13
c. Assets given on lease:
i) General description of lease terms:
a) Assets are given on lease over a period of 2 to 3 years
b) Lease rentals are charged on the basis of agreed terms.
ii) The company has given office space on sub lease. The future minimum Sublease payment
expected to be received as on March 31, 2008 Rs. 12.11 million (previous year Rs 16.88).
Other Income includes income from operating lease of Rs. 5.52 million (previous year Rs. 3.82
million) under lease and hire income.
(x) Deferred tax liability
As per Accounting Standard (AS-22) on “Accounting for Taxes on Income “ Issued by Institute of
Chartered Accountants of India (ICAI), the Deferred tax Liability (DTL) as at 31 st March 2008 comprises
of the following:
(Rupees in millions)
Particulars 31 st March 31
2008
st March
a) Deferred Tax Liability
2007
-Depreciation
b) Deferred Tax Assets
217.65 60.62
-Expenses allowable on payment basis 4.73 3.05
-Provisions for doubtful debts and advances 0.23 0.23
-Expenses allowable as per section 40 of the Income Tax
Act, 1961
- 0.35
Deferred Tax Liability (Net) 212.69 56.99
(xi) Related party Disclosures:
As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the
disclosures of transactions with related parties as defined in Accounting Standard are given as below:
i) List of related parties with whom transactions have taken place & relationships:
S. No. Name of Related Party Relationship
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Educomp Learning Private Limited
Wheitstone Productions Private Limited
Edumatics Corporation, USA
Educomp Infrastructure Private Limited
Educomp School Management Limited
Educomp Professional Education Limited
Educomp Software Limited
Educomp Asia Pacific Pte. Ltd.
Threebrix E-services Pvt. Ltd.
Authrorgen Technologies Pvt. Ltd.
Educomp Infrastructure Services Pvt. Ltd.
AsknLearn Pte Ltd.
Wiz Learn Pte Ltd.
Pave Education Pte Ltd.
Singapore learning.Com Pte Ltd.
Shikhya Solutions Inc.
Subsidiary Companies
(Direct & Indirect holding)