Shriram City Union Finance Limited - Karvy

d. InvestmentsInvestments intended to be held for not more than a year are classified as current investments. All otherinvestments are classified as long-term investments. Current investments are carried at lower of cost and fairvalue determined on an individual investment basis. Long Term Investments are carried at cost. Provision fordiminution in the value of long term investments is made to recognize decline in value other than temporary innature.e. Assets under financing activitiesAssets under Financing Activities are stated at the amount advanced including finance charges accrued and expensesrecoverable, as reduced by the amounts received up to Balance sheet date and assets securitized. Non PerformingAssets are written off / provided for, as per management estimates, subject to the minimum provision required as perNon-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions2007.Provision @0.25% on standard Asset is made as required under Reserve bank of India (RBI) notification No.DNBS.222/CGM (US-2011) Dated January 17, 2011 for the year 2010-11.Up to year ended March, 31, 2008Provisioning / Write – off of assetsLoans, hire purchase and lease receivables are written off / provided for , as per management estimates, subject to theminimum provision required as per Non – Banking Financial Companies Prudential Norms (Reserve Bank) Directions,1998.Up to the year ended March, 31, 2007Receivables under Hire Purchase and Financial Lease AgreementsReceivables under Hire Purchase and Financial Lease Agreements are stated at agreement value including expensesrecoverable reduced by installment received and unearned finance income as required under Accounting Standard AS -19 issued by the Institute of Charted Accountants of India and shown net of assets securitized.f. Foreign currency translationForeign currency transactions are accounted at the exchange rate prevailing on the date of transactions. Foreigncurrency monetary items on the Balance Sheet date are restated at the closing exchange rates. All Exchangedifferences are dealt within the profit & loss account.F-46