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Crompton Greaves Ltd.<br />
Schedule (B) (Contd)<br />
<strong>2003</strong>-04 2002-03<br />
Rs Crores Rs Crores<br />
8 Miscellaneous expenditure amortised upto 31st July <strong>2003</strong> relates to<br />
(Refer Note 14 below)<br />
(a) Testing Fees 082 186<br />
(b) Payments under Voluntary Retirement Schemes 747 2521<br />
(c) Technical Know-How Fees 126 274<br />
9 Effects of changes in foreign exchange rates {Gain (+) / Loss (-)}:<br />
955<br />
2981<br />
Exchange difference charged to Profit & Loss Account<br />
(a) On account of forward contracts taken during the year -001 -004<br />
pertaining to future accounting period<br />
(b) Others 618 -238<br />
617 -242<br />
10 Interest and <strong>com</strong>mitment charges include interest on<br />
(a) Fixed loans 1898 3020<br />
(b) Debentures 279 817<br />
(c) Others 1854 2868<br />
4031<br />
6705<br />
(d) Less: Interest in<strong>com</strong>e (including tax deducted at source<br />
Rs023 crores; Previous year Rs027 crores) 141 192<br />
3890<br />
6513<br />
11 Advances recoverable in cash or in kind or for value to be received<br />
include:<br />
(a) Advances to associate <strong>com</strong>pany pending allotment of shares -<br />
Globalstar India Satellite Services Private Limited 116 116<br />
(b) Rent deposit with Directors 020 020<br />
(c) Due by an Officer RsNil ( Previous year Rs30000) (Maximum<br />
amount outstanding at any time during the year RsNil; 000 000<br />
Previous year Rs157170 )<br />
12 Arrears of preferential dividend of an amalgamated <strong>com</strong>pany payable<br />
in nine equal installments in terms of BIFR Order and the Scheme of 000 005<br />
Amalgamation<br />
13 During the year, the Company prepaid certain deferred sales tax liabilities in accordance with the scheme<br />
formulated by the State Government of Maharashtra for such optional prepayments Based on an expert’s<br />
opinion, the resultant surplus of Rs1912 crores, representing the excess of the recorded liability over the<br />
amount paid has been credited to “Capital Reserve”<br />
14 Pursuant to the approval by shareholders at the Annual General Meeting held on 22nd July <strong>2003</strong>, the<br />
<strong>com</strong>pany had filed petition in the High Court of Judicature at Mumbai and the said High Court had<br />
approved the Capital Reduction vide its Order dated 15th September <strong>2003</strong> Accordingly, the balances of<br />
the undermentioned accounts as on 31st July <strong>2003</strong> have been adjusted against the Securities Premium<br />
Account:-<br />
107
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