SUBSIDIARY COMPANIES - ITC Ltd

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NOTES TO THE FINANCIAL STATEMENTS (Contd.) (All amounts in `, unless otherwise stated) 180 As at As at 31st March, 2012 31st March, 2011 16. Other Income Interest Income 45,144 63,724 Dividend Income — 68 Service Income 60,00,000 42,00,000 Provision no longer required written back 7,50,000 9,11,182 Miscellaneous Income — 50,000 Total 67,95,144 52,24,974 17. Employee Benefit Expense Salaries, Wages and Bonus 98,100 98,100 Total 98,100 98,100 18. Depreciation and Amortization Expenses Depreciation 1,83,088 1,94,453 Amortization 53,535 56,353 Total 2,36,623 2,50,806 19. Other Expenses Professional and Legal fees 17,77,658 14,92,951 Travelling Expenses 85,703 29,806 Audit Fee 75,000 75,000 Tax Audit Fee 25,000 25,000 Reimbursement of expenses (including service tax) 17,978 15,100 Reimbursement of expenses incurred by Subsidiary Company 1,72,944 1,70,463 Miscellaneous Expenses 44,811 76,75,676 Total 21,99,094 94,83,996 20. Contingent Liabilites Claims against the Company not 37,21,426 37,21,426 acknowledged as debts Lease tax on account of non-accrual of lease rental Total 37,21,426 37,21,426 21. Assets held for Sale On February 14, 2012, the Board of Directors of the Company has approved the plan for disposing the Buildings. Carrying Amount as at March 31, 2012 is Rs. 3,177,433 (March 31, 2011: Rs. 3,344,667). 22. Taxes on Income 22.1 No provision has been made for Current tax during the year because of carry forward loss under the Income Tax Act. 22.2 The Company has not recognized the net deferred tax assets, in respect of accumulated losses and unabsorbed depreciation in view of the uncertinity of availing the benefit in near future. Break up of such net deferred tax asset is given below: Deferred Tax Liabilities: Depreciation Deferred Tax Assets: (1,38,69,220) (1,21,99,728) Accumulated business losses 1,77,12,028 10,70,58,857 Unabsorbed depreciation 7,48,51,668 7,93,70,975 Deferred Tax Asset/(Liability) 7,86,94,476 17,42,30,104 BFIL FINANCE LIMITED As at As at 31st March, 2012 31st March, 2011 23. Earnings per share Profit/(Loss) after tax 42,61,327 (46,07,928) Weighted average number of equity shares 2,00,00,000 2,00,00,000 Basic and Diluted earnings per share (face value of Rs. 10) 0.21 (0.23) The earnings considered in ascertaining the Company's Earning Per Share (EPS) comprise net profit / (loss) after taxation. The number of shares considered in computing Basic and Diluted EPS is the weighted average number of shares outstanding during the year. 24. Segment Reporting The Company operates in a single business segment and hence no further disclosure is being made. 25. Micro, Small and Medium Enterprise Development Act, 2006 There are no Micro and Small enterprises, to which the company owes dues, or with which the company had transactions during the year, based on the information available with the company. 26. Related party disclosures (a) Names of related parties and nature of relationship: Where control exists Holding Company: ITC Limited Subsidiary Company: Limited. (b) Transactions/Balances MRR Trading & Investment Company Limited Holding Company Subsidiary Company 31st March 31st March 31st March 31st March 2012 2011 2012 2011 Transactions: Service Income 60,00,000 42,00,000 — — Reimbursement of expenses Balances at the year end — — 1,72,944 1,70,463 Receivables — 33,65,400 — — 0% Non-Convertible debentures 15,00,00,000 15,00,00,000 — — Unsecured Loans (Interest free) 32,54,11,077 32,54,11,077 — — 27. The financial statements for the year ended March 31, 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended March 31,2012 have been prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to current year’s classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements. STATEMENT REGARDING SUBSIDIARY COMPANIES: Pursuant to Section 212(1) and (3) of the Companies Act, 1956 MRR TRADING & INVESTMENT COMPANY LIMITED (a) Holding Company’s interest: 50,000 Equity Shares of Rs.10/- each, fully paid-up (b) Net aggregate amount of Subsidiary’s profit/(loss) not dealt with in the Holding Company’s accounts: (Amount in Rs.) (i) for the Subsidiary’s financial year ended March 31, 2012 Nil (ii) for the previous financial years (416,160) (c) Net aggregate amount of Subsidiary’s profit/(loss) dealt with in the Holding Company’s accounts: (i) for the Subsidiary’s financial year ended March 31, 2012 Nil (ii) for the previous financial years Nil
BFIL FINANCE LIMITED Balance Sheet of a Non-Deposit Taking Non-Banking Financial Company as at March 31, 2012 (as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Prudential Norms (Reserve Bank) Directions, 2007) (All amount in Rupees' Lacs, unless otherwise stated) Liabilities side: Amount Amount outstanding overdue (1) Loans and advances availed by the NBFCs inclusive of interest accrued thereon but not paid: (a) Debentures Secured Unsecured (from Holding Company) — — (other than falling within the meaning of public deposits) 1,500.00 — (b)Deferred Credits — — (c) Term Loans (d)Inter-corporate loans and borrowing — — (from Holding Company) 3,254.11 — (e) Commercial Paper — — (f) Other Loans — — Assets side: Amount outstanding (2) Break-up of loans and advances including bills receivables [other than those included in (4) below]: (a) Secured — (b)Unsecured 951.27 (3) Break-up of Leased Assets and stock on hire and other assets counting towards AFC activities (i) Lease assets including lease rentals under sundry debtors (a) Financial lease 961.09 (b) Operating lease — (ii) Stock on hire including hire charges under sundry debtors: (a) Assets on hire 358.54 (b) Repossessed Assets — (iii) Other loans counting towards AFC activities (a) Loans where assets have been repossessed — (b) Loans other than (a) above — (4) Break-up of Investments: Amount Current Investments: outstanding 1. Quoted: (i) Shares: (a) Equity — (b) Preference — (ii) Debentures and Bonds — (iii) Units of Mutual funds — (iv) Government Securities — (v) Others — 2. Unquoted: (i) Shares: (a) Equity — (b) Preference — (ii) Debentures and Bonds (iii) Units of Mutual funds — (iv) Government Securities — (v) Others Long Term investments: — 1. Quoted: (i) Shares: (a) Equity — (b) Preference — (ii) Debentures and Bonds (iii) Units of Mutual funds — (iv) Government Securities (v) Others — 2. Unquoted: (i) Shares: (a) Equity — (b) Preference — (ii) Debentures and Bonds — (iii) Units of Mutual funds — (iv) Government Securities — (v) Others 430.24 (5) Borrower group-wise classification of all assets financed as in (2) and (3) above : Amount net of provisions Secured Unsecured Total 1. Related Parties** (a) Subsidiaries — — — (b) Companies in the same group — — — (c) Other related parties — — — 2. Other than related parties — — — Total — — — (6) Investor group-wise classification of all investments (current and long term) in shares and securities (both quoted and unquoted): Market value/Break up or fair value or NAV Book value (net of provision) 1. Related Parties** (a) Subsidiaries 430.24 430.24 (b) Companies in the same group — — (c) Other related parties — — 2. Other than related parties — — Total ** As per Accounting Standard of ICAI 430.24 430.24 (7) Other Information Amount (i) Gross Non-Performing Assets (a) Related parties — (b) Other than related parties (refer note 1 below) 3,542.05 (ii) Net Non-Performing Assets — (a) Related parties — (b) Other than related parties — (iii)Assets acquired in satisfaction of debt 390.32 Notes: 1 Of the above, Rs. 1,849.69 lacs relates to the assets given on lease. The corresponding net block value of such assets are Rs. 566.83 lacs as at March 31, 2012. 181
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SUBSIDIARY COMPANIES Russell Credit
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ANNEXURE TO THE REPORT OF THE DIREC
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6 RUSSELL CREDIT LIMITED BALANCE SH
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NOTES TO THE FINANCIAL STATEMENTS F
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ANNEXURE TO THE AUDITORS’ REPORT
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DIRECTORS’ REPORT TO THE MEMBERS
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to its bankers. The Company did not
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CASH FLOW STATEMENT FOR THE YEAR EN
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NOTES TO THE ACCOUNTS As at As at M
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NOTES TO THE ACCOUNTS 11. Fixed ass
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NOTES TO THE ACCOUNTS Year Ended Ye
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NOTES TO THE ACCOUNTS 26. Finance c
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NOTES TO THE ACCOUNTS 5. Transactio
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NOTES TO THE ACCOUNTS 43 - Signific
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DIRECTORS’ REPORT TO THE MEMBERS
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(vii) In our opinion, the Company h
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NOTES TO THE ACCOUNTS 1. Share capi
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23. Significant accounting policies
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of services. We have not observed a
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NOTES TO THE ACCOUNTS As at As at M
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NOTES TO THE ACCOUNTS 21. Segment i
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DIRECTORS’ REPORT FOR THE YEAR EN
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56 TECHNICO PTY LIMITED BALANCE SHE
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(c) Foreign currency translation Th
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60 TECHNICO PTY LIMITED NOTES TO AN
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NOTES TO AND FORMING PART OF FINANC
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NOTES TO AND FORMING PART OF FINANC
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BALANCE SHEET AS AT MARCH 31, 2012
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5. Liquidity Risk Liquidity risk is
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ANNEXURE TO THE REPORT OF DIRECTORS
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CASH FLOW STATEMENT FOR THE YEAR EN
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74 TECHNICO AGRI SCIENCES LIMITED N
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Notes to financial statements for t
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NOTES TO FINANCIAL STATEMENTS FOR T
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Notes to financial statements for t
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DIRECTORS’ REPORT FOR THE YEAR EN
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84 TECHNICO ASIA HOLDINGS PTY LIMIT
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Note 4: Trade and other payables 20
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BALANCE SHEET AS ON 31st DECEMBER 2
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INCOME AND PROFIT DISTRIBUTION STAT
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NOTES TO FINANCIAL STATEMENTS 1. Br
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NOTES TO FINANCIAL STATEMENTS (Cont
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ANNEXURE TO AUDITORS’ REPORT (con
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NOTES TO THE FINANCIAL STATEMENTS 1
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NOTES TO THE FINANCIAL STATEMENTS (
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14. The Board of Directors of the C
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BALANCE SHEET As at March 31, 2012
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22. There were no transactions nece
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STATEMENT OF PROFIT AND LOSS FOR TH
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NOTES TO THE ACCOUNTS (Contd.) For
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adequate accounting records in acco
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given to us, the Company has not gi
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NOTES TO THE FINANCIAL STATEMENTS N
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14 CASH AND BANK BALANCES Cash and
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128 ITC INFOTECH INDIA LIMITED IX.
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Page 134 and 135: Unaudited Unaudited 2012 2012 2011
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Page 142 and 143: NOTE F - INTANGIBLE ASSETS The Comp
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Page 154 and 155: REPORT OF THE DIRECTORS FOR THE FIN
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Page 188 and 189: Annexure I Sl. No. Name of Director
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Page 192 and 193: STATEMENT OF CHANGE IN EQUITY FOR T
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Page 200 and 201: STATEMENTS OF CASH FLOWS YEAR ENDED
Page 202: NOTE 12 - INCOME TAXES Income taxes
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