Annual Report 2007 - Clariant

Notes6131-12-07Rs. Million31-12-06Rs. Million10. Disclosure required under the Micro, Small and Medium Enterprises Development Act, 2006(the Act) are given as follows :(a) Principal amount due — —Interest due on the above — —(b) Interest paid during the period beyond the appointed day — —(c) Amount of interest due and payable for the period of delay in making payment without— —adding the interest specified under the Act(d) Amount of interest accrued and remaining unpaid at the end of the period — —(e) Amount of further interest remaining due and payable even in the succeeding years,— —untill such date when the interest dues as above are actually paid to the small enterprisefor the purpose of disallowance as a deductible expenditure under section 23 of the ActThe above information and that given in Schedule-11 ‘Current Liabilities’ regarding microenterprise and small enterprises has been determined on the basis of information availablewith the Company. This has been relied upon by the auditors.January 07 toDecember 07Rs. Million(ExcludingService Tax)April 06 toDecember 06Rs. Million(ExcludingService Tax)11. Miscellaneous Expenses in Schedule 17: Other Expenditure include :Auditors’ remuneration and expenses :(a) Audit fees 2.0 2.0(b) Company law matters 0.1 —(c) Taxation services 0.1 —(d) Other services – miscellaneous reports 4.0 2.6(e) Out-of-pocket expenses 0.2 0.16.4 4.712. Disclosure in respect of Derivative Instruments :The Company uses Forward Exchange Contracts to hedge its exposure in foreign currency. The information on derivativeinstruments is as follows :(a) Forward Exchange Contracts outstanding as at :31-12-07 31-12-06CurrencyAmount inAmount inforeigncurrencyAmountRs. MillionforeigncurrencyAmountRs. MillionEUR/INR 150000 8.7 — —(b) Foreign currency exposures not covered by a derivative instrument :(i)31-12-07 31-12-06Amount inforeigncurrencyAmountRs. MillionAmount inforeigncurrencyAmountRs. MillionAmount receivable on account of export of goodsand services :CurrencyUSD 7524231 297.5 8199019 367.5EUR 350919 20.5 213507 12.6CHF 78623 2.6 2583 0.1GBP — — 1512 0.1320.6 380.3