Shriram City Union Finance Limited - Karvy

7. LeasesIn case of assets given on leaseFinancial lease including hire purchaseThe Company has given vehicles on finance lease. The lease term is for 3 to 5 years. There is no escalation clause in thelease agreement. There are no restrictions imposed by lease arrangements.(Rs. in lacs)As at March 31,2008As at March 31, 2007Total gross investment in the lease NIL 6166.73Less : Unearned finance income NIL 589.35Less: Unguaranteed residual value NIL NILPresent value of minimum lease payments NIL 5577.38Gross investment in the lease for the period :Not later than one year [Present value of minimum leaseNIL 5024.56payments receivable Rs. NIL as on March 31, 2008 (March 31,2007: Rs.4560.18 lacs)]Later than one year but not later than five years [Present value ofNIL 1142.17minimum lease payments Rs. NIL as on March 31, 2008 (March31, 2007 : Rs. 1017.19 lacs)]Later than five years [Present value of minimum lease paymentsNil as on March 31, 2008 (March 31, 2007: Nil)]NILNilIn case of assets taken on leaseRent Rs.164 lacs (March 31,2007 : Rs. 129 lacs) represents lease payments in respect of cancellable leases as perrespective agreements. There are no separate amounts for minimum lease payments and contingent rents. There is nosub-lease.8. InvestmentsIn accordance with the Reserve Bank of India circular no.RBI/2006-07/ 225 DNBS (PD) C.C No.87/03.02.004/2006-07 dated January 4, 2007, the Company has created a floating charge on the statutory liquidassets comprising of investment in Government Securities to the extent of Rs.104.53 lacs in favour of trusteesrepresenting the public deposit holders of the Company.F-102