Shriram City Union Finance Limited - Karvy

2. Subordinated DebtThe Company has raised during the year subordinated debt bonds amounting to Rs. 8,170.49 lacs (March31, 2007: Rs. 10,920.89 lacs) with coupon rate of 11.5% per annum which are redeemable over a periodof 62 months to 73 months.3. Cash & Cash Equivalents(Rs. in lacs)Particulars Year ended March 31, Year ended March 31, 20072008Cash & Bank balance (as per schedule 8 ) 87,605.23 36,489.78Less : Fixed deposits having original maturitygreater than 3 months or pledged with banks or lien markeddepositsBalance considered as cash & cash equivalents forcash flow statement4,958.17 5,010.8082,647.06 31,478.98Gratuity and other post-employment benefit plans:The Company has an unfunded defined benefit gratuity plan. Every employee who has completed fiveyears or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for eachcompleted year of service.Consequent to the adoption of revised AS 15 ‘Employee Benefits’ issued by the ICAI, the followingdisclosures have been made as required by the standard:Profit and Loss accountNet employee benefit expense (recognized in Employee Cost)(Rs. in lacs)GratuityParticularsMarch 31, 2008Current service cost 45.67Interest cost on benefit obligation 5.93Expected return on plan assetsN.ANet actuarial (gain) / loss recognized in the year 53.10Past service costNILNet benefit expense 104.70Actual return on plan assetsN.AF-97