2009-10 Annual Report - SPML

SPML INFRA LIMITEDSPML INFRA LIMITED (formerly Subhash Projects and Marketing Limited)SCHEDULES FORMING PART OF THE BALANCE SHEET AND PROFIT & LOSS ACCOUNT(iii) Amounts due from officers of the Company Rs. 1,515 thousands (Rs. Nil)Maximum amount outstanding due at any time during the year – Rs. 1,999 thousands (Rs. 13 thousands)(b) Disclosures of outstanding loans and advances given and investments made by the Company together with maximum amount thereof asrequired under clause 32 of the Listing Agreement are as below:(Rs. in ’000)Amount outstanding Maximum outstandingParticularsat year end during the yearLoans and advances in the nature of loans to subsidiaries and associate by name and amountAs given in 23(a)(i) above(including advances given towards share application money)Loans and advances in the nature of loans where there is(i) no repayment schedule or repayment beyond seven yearsAdvances to parties given in 24 (a)(i) and 24 (a) (ii)above are repayable on demand(ii) no interest or interest below section 372A of Companies Act by name and amountNilLoans and advances in the nature of loans to firms/companies in which directors are interestedAs given in 23(a)(ii) aboveby name and amount24. (a) Gratuity plans (AS 15 Revised)The Company have a defined benefit gratuity plan. Every employee who has completed five years or more of service is entitled to Gratuity on termsnot less favorable than the provisions of The Payment of Gratuity Act, 1972. The scheme is unfunded.The following tables summaries the components of net benefit expenses recognized in the profit & loss account and amounts recognized in thebalance sheet:(Rs. in ’000)2009-10 2008-09(i) Net employee benefit expense (recognised in Employee Cost)Current service cost 6,629 6,090Interest cost on benefit obligation 1,966 1,818Net Actuarial (gains) / losses recognised in the year (362) (9,247)Total employer expense recognised in Profit and Loss Account 8233 (1,339)(ii) Actual return on plan assets Not Applicable Not Applicable(iii) Benefit Asset / (Liability)Defined benefit obligation (27,815) (21,322)Benefit Asset / (Liability) (27,815) (21,322)(iv) Movement in benefit liabilityOpening defined benefit obligation 21,322 24,130Interest cost 1,966 1,818Current service cost 6,629 6,090Benefit paid (1,740) (1,469)Actuarial (gains)/losses on obligation (362) (9,247)Closing benefit obligation 27,815 21,322(v) Movement in fair value of plan assets Not Applicable Not Applicable(vi) The major categories of plan assets as a percentage of the fair value of total plan assets Not Applicable Not Applicable62