Scheduleforming part of the Balance Sheet - Domain-b

Annual Report 2007-2008
Schedule forming part of the Balance Sheet
Schedule 14 : Notes to the Balance Sheet and the Profit and Loss Account(Contd.)
24. Provision for Doubtful Debts :
Particulars Current Year Previous Year
Rs. crores Rs. crores
Opening Balance 11.47 9.42
Add : Provision during the year 2.40 4.49
13.87 13.91
Less : Bad debts written off 2.33 0.65
Less : Provision no longer required, written back 1.22 1.79
Closing Balance 10.32 11.47
25. Provision for Loyalty Programmes :
The Company has loyalty programmes, which enable its customers to accumulate points based on their spends at the hotels.
Such points can be encashed either by stay at the Company’s hotels or by purchase of merchandise. The estimated liability
against the loyalty schemes is as under:
Particulars Current Year Previous Year
Rs. crores Rs. crores
Opening Balance 8.82 6.81
Less : Redeemed during the year 0.77 2.40
8.05 4.41
Add : Provision during the year 2.91 4.41
Closing Balance 10.96 8.82
26 Long Term Deposits and Loans and Advances in the nature of loans to Subsidiaries, Jointly controlled entities and
Associates:-
Rs. crores
Particulars Maximum Maximum
amount
outstanding
during the
year
Balance
Outstanding
as on March
31, 2008
amount
outstanding
during the
previous year
Balance
Outstanding
as on March
31, 2007
Subsidiaries
Taj Investments and Finance Co. Ltd. - - 17.00 17.00
IHMS Inc. 212.11 212.11 40.16 38.79
Innovative Foods Limited 2.75 2.75 - -
Residency Food & Beverages Limited 6.77 6.77 - -
Taj International Hotels (HK) Ltd. 223.76 207.76 611.95 225.73
Roots Corporation Ltd.
Jointly Controlled Entities
16.00 12.00 11.00 11.00
Taj International Hotels (South Africa)(Pty) Ltd 15.86 13.35 - -
Taj Karnataka Hotels & Resorts Ltd. 5.35 5.35 5.35 5.35
Taj Asia Ltd. 19.14 17.76 19.36 19.14
Taj GVK Hotels & Resorts Ltd.
Associates
5.00 5.00 5.00 5.00
Taj Air Ltd. - - 12.25 -
105