IRFC FINAL - Indian Railway Finance Corporation Ltd.

21. As per Accounting Standard (AS) -18 'Related Party Disclosures' issued by the Institute of Chartered Accountantsof India (ICAI), the details are as under:Key Management personnel:a) R. Kashyap, Managing Directorb) S. K. Kaushik, Director FinanceThe payments to key management personnel are given under note no. 9 (a) & (b) above.No other transaction except the above has been entered into with any of the key management personnel, theirrelatives, concerns in which they are interested.22. The calculation of Earnings Per Share as required under Accounting Standard (AS) -20 is as under:Basic EPSYear2008-09 2007-08a) Profit after tax Rs. 18079.16 Lacs Rs. 42151.33 Lacsb) No. of equity shares of face value Rs. 1,000/- each 50,00,000 50,00,000c) Earning Per Share (a/b) Rs. 361.58 Rs. 843.03Diluted EPSYear2008-09 2007-08a) Profit after tax Rs. 18079.16 Lacs Rs. 42151.33 Lacsb) No. of equity shares of face value Rs. 1,000/- each 50,16,438 50,00,000c) Earning Per Share (a/b) Rs. 360.40 Rs. 843.03The reconciliation of weighted number of equity shares is under:Number of shares outstanding during the year: 50,00,000Number of shares for which application money hasbeen received on 30-03-2009: 30,00,000Weighted number of equity shares: 50,16,43823. (a) During the year 2003-04, the company restructured the rate of interest on certain outstanding borrowingsfrom LIC and paid Rs.2403 Lacs as advance, representing a portion of the future savings in the interestcost. This advance amount is being amortised over the balance tenor of the borrowings. During the year,a sum of Rs.201 Lacs (P.Y. Rs.263 Lacs) has been amortised, leaving a balance of Rs.363 Lacs as on31-03-2009 (P.Y. Rs.564 Lacs).(b) During the year 2004-05, the company restructured the rate of interest on certain outstanding borrowingsfrom IDBI Ltd. and paid Rs.1378 Lacs as advance, representing a portion of the future savings in theinterest cost. This advance amount is being amortised over the balance tenor of the borrowings. Duringthe year, a sum of Rs.108 Lacs (P.Y. Rs.167 Lacs) has been amortised, leaving a balance of Rs.194 Lacs ason 31-03-2009 (P.Y. Rs303 Lacs).24. The Company has raised fresh capital by offering 30,00,000 Equity shares of Rs.1000/- each at par on privateplacement basis to its existing shareholder i.e. President of India through Ministry of Railways, Govt. of India.The Company has received the full amount of application money of Rs.300 Crore on 30th March 2009. Theallotment in respect of this has, however, been approved in the Board of Directors meeting held on 2 nd of June2009.57