Untitled - Domain-b

More documents

Recommendations

Info

Schedules to the consolidated financial statements(All amounts in crores of rupees, except share data and unless otherwise stated)Schedule 20: Significant accounting policies and notes to the accounts (Contd.)13. Employee Benefit PlansThe Group has calculated the various benets provided to employees as under:A. Dened Contribution Plans and State PlansSuperannuation FundEmployer’s contribution to Employees State InsuranceEmployer’s contribution to Employee’s Pension Scheme.During the year the Company has recognized the following amounts in the Prot and Loss account:ParticularsYear endedYear ended30 June 2010 30 June 2009Superannuation Fund 2.11 2.20Employer’s contribution to Employees State Insurance 0.78 0.53Employer’s contribution to Employee’s Pension Scheme. 26.97 25.81Total 29.86 28.54Subsidiaries in USTotal contributions made to the plan by the company, for the years ended 30 June 2010 is Rs. 16.47 crores and 30 June 2009 isRs.13.53 crores.Subsidiaries in AustraliaTotal contributions made to the plan by the company, for the years ended 30 June 2010 is Rs. 13.35 crores and 30 June 2009 isRs.9.2 crores.Subsidiaries in EuropeTotal contributions made to the plan by the company, for the years ended 30 June 2010 is Rs. 25.81 crores and 30 June 2009 isRs.14.33 crores.Subsidiaries in Asia (excluding India)Total contributions made to the plan by the company, for the years ended 30 June 2010 is Rs. 20.67 crores and 30 June 2009 isRs.10.74 crores.B. Dened Benet Plansa) Gratuityb) Employers Contribution to Provident FundGratuityThe following table set out the status of the gratuity plan as required under AS 15 (Revised):Prot and Loss AccountNet employee benet expense (recognised in Employee Cost)ParticularsYear ended30 June 2010Year ended30 June 2009Current Service cost 19.52 14.92Interest cost on benet obligation 5.74 5.20Expected return on plan assets - -Net Actuarial (gain)/loss recognised in the year (4.40) 4.49Past Service cost - -Net benet expense 20.86 24.61Balance SheetDetails of Provision for GratuityParticularsYear ended30 June 2010Year ended30 June 2009Dened benet obligations 94.36 78.70Fair value of plan assets 0.05 -94.41 78.70Less: Unrecognised past service cost - -Plan (asset) / liability 94.41 78.70137
Schedules to the consolidated financial statements(All amounts in crores of rupees, except share data and unless otherwise stated)Schedule 20: Significant accounting policies and notes to the accounts (Contd.)Changes in present value of the dened benet obligation are as follows:ParticularsYear ended30 June 2010Year ended30 June 2009Opening dened benet obligations 78.81 57.65Current service cost 19.52 14.92Interest cost 5.74 5.20Actuarial (gain)/loss on obligation (4.40) 4.49Benets paid (5.31) (3.56)Closing dened benet obligations 94.36 78.70Changes in fair value of the dened benet obligation are as follows:ParticularsYear ended30 June 2010Year ended30 June 2009Opening fair value of planned assets - -Expected returns - -Contribution by employer 0.05 -Benets paid - -Actuarial (gain)/loss - -Closing fair value of plan assets 0.05 -The Group expects to contribute Rs. 3.88 crores to gratuity in 2010-11.The overall expected rate of return on assets is determined based on the market prices prevailing on that date, applicable to theperiod over which the obligation is to be settled. There has been signicant change in expected rate of return on assets due tothe improved stock market scenario.The principal assumptions used in determining gratuity for the Group’s plans are shown below:ParticularsYear ended30 June 2010Year ended30 June 2009Discount rate 7.15% 6.40%Estimated Rate of salary increases 6%-10% 6%-10%Employee Turnover 18.00% 18.00%Expected rate of return on assets - -Amounts for the current and previous year are as follows:ParticularsYear ended30 June 2010Year ended30 June 2009Year ended30 June 2008Dened benet obligations 94.36 78.70 57.64Plan assets 0.05 - -Experience adjustment on plan liabilities (2.23) (6.69) 5.09Experience adjustment on plan assets - - -The Group has adopted AS-15 revised from 01 July 2007 and thereby has not given disclosures of the above for the year ended30 June, 2007 and 2006.Employers Contribution to Provident FundThe Guidance on implementing AS-15, Employee Benets (revised 2005) issued by Accounting Standard Board (ASB) statesbenets involving employer established provident funds, which requires interest shortfall to be recompensed are to be consideredas dened benets plans. Pending the issuance of the guidance note from the Actuarial Society of India, the Group’s actuaryhas expressed an inability to reliable measure provident fund liabilities. Accordingly the Group is unable to exhibit the relatedinformation.During the year ended 30 June 2010, the Group has contributed Rs. 72.18 crores (previous year Rs. 40.37 crores) towardsEmployers’ contribution to the Provident Fund.138
Page 2 and 3:
CONTENTSBoard of Directors 2Managem
Page 4 and 5:
MANAGEMENT DISCUSSION AND ANALYSISI
Page 6 and 7:
When looking at the growth opportun
Page 8:
on reusable components and framewor
Page 11 and 12:
developing best practices, developm
Page 13 and 14:
Outsourcing costs includes (a) outs
Page 15 and 16:
FISCAL 2010 COMPARED TO FISCAL 2009
Page 17 and 18:
DIRECTORS’ REPORTDear Shareholder
Page 19 and 20:
DEBENTURESDuring the year, the Comp
Page 21 and 22:
eing, if the employee is satised, h
Page 23 and 24:
(iii) Future plan of actionYour Com
Page 25 and 26:
ANNEXURE 3 TO THE DIRECTORS’ REPO
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Administrator’s interpretation of
Page 35 and 36:
independent view to the Company’s
Page 37 and 38:
Nature of expertise in functional a
Page 39 and 40:
5. Ms. Robin AbramsS. No. Name of t
Page 41 and 42:
usiness environment including busin
Page 43 and 44:
management, or their relatives, etc
Page 45 and 46:
Nominations CommitteeThe Nomination
Page 47 and 48:
General Body MeetingsThe location a
Page 49 and 50:
The Bombay Stock Exchange Ltd. (BSE
Page 51 and 52:
f) Categories of shareholders as on
Page 53 and 54:
158, Arcot Road VadapalaniChennai-
Page 55 and 56:
Hyderabad CentersGround & First Flo
Page 57 and 58:
AUDITORS’ CERTIFICATEREGARDING CO
Page 60:
Financial Statements
Page 63 and 64:
(iv)(v)(vi)(vii)(viii)(ix)In our op
Page 65 and 66:
Balance Sheet as at 30 June 2010(Al
Page 67 and 68:
Cash Flow statement for the year en
Page 69 and 70:
Schedules to the accounts(All amoun
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Schedules forming part of the accou
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88: Schedules forming part of the accou
Page 104: Consolidated Statements
Page 107 and 108: Consolidated Balance Sheet(All amou
Page 109: Consolidated Cash flow statement(Al
Page 112 and 113: Schedules to the consolidated accou
Page 118 and 119: Schedules to the consolidated finan
Page 142 and 143: Statement regarding Subsidiary Comp
Page 144 and 145: Statement regarding Subsidiary Comp
show all

Untitled - Domain-b

Create successful ePaper yourself

Delete template?

Save as template?