Shriram City Union Finance Limited - Karvy

(Rs. in lacs)As at March 31, As at March 31, 200812. Contingent Liabilities not provided for2009Guarantees issued by the Company 6.81 6.81Income Tax/Wealth Tax/Service Tax/Fringe Benefit TaxDisputed Income tax/Wealth Tax/Service Tax/Fringe Benefit Tax demands contested in appeal as on March 31 st ,2009 amount to Rs.1554.83 lacs (March 31 st 2008: Rs.1,603.12 Lacs. However provision is made in the booksfor any liability that may arise.13. The Company during the year converted 14,40,000 warrants issued to Shriram Enterprise Holdings PrivateLimited into equity shares of Rs.10/- each at a premium of Rs.150/-. The total amount of Rs. 2167.50 lacsreceived from the said preferential allotment was utilized for the purpose of increasing the net worth andworking capital of the Company. The company has further issued 35,00,000 warrants to Shriram RetailHoldings Private Limited on a preferential basis with an option to convert into equity shares of Rs.400/-each (including securities premium of Rs.390/-) within 18 months from the date of issue i.e. May 16,2008.14. Employee Stock Option PlanSeries IDate of grant October 19, 2007Date of Board Approval October 19, 2007Date of Shareholder’s approval October 30, 2006Number of options granted 13,27,500Method of Settlement (Cash/Equity)After 1 year of grant dateAfter 2 years of grant dateAfter 3 years of grant dateAfter 4 years of grant dateEquity10% of options granted20% of options granted30% of options granted40% of options grantedExercisable periodVesting Conditions10 years from vesting dateon achievement of pre –determined targetsF-89