Shriram City Union Finance Limited - Karvy

15. SecuritisationThe Company sells loans through securitisation and direct assignment. The information on securitisation & directassignment activity of the Company as an originator for the year March 31, 2008 and March 31, 2007 is given below:Year ended March31, 2008Year ended March31, 2007Total number of loan assets securitized 3,98,691 4,38,457Total book value of loan assets securitised (Rs. in lacs) 75,781.80 80,493.74Sale consideration received for the securitised assets (Rs. in lacs)83,539.14 91,302.42Net gain on account of securitization (Rs. in lacs) 7,757.34 10,808.68The information on securitisation & direct assignment activity of the Company as an originator as on March 31, 2008and March 31, 2007 is given in the table below :As at March 31,2008(Rs. in Lacs)As at March 31, 2007Outstanding credit enhancement- Deposit with banks/corporate 4,695.88 5,711.93Outstanding Credit enhancement - Receivables 3,200.86 1,906.6916. Derivative Instruments:The Notional principal amount of derivative transactions outstanding as on March 31, 2008 for interestrate swaps Rs.50,000 lacs (March 31, 2007 – 5,000). The interest rate swaps is to hedge against exposureto variable interest outflow on loans.17. During the year ended March 31, 2008, the Company has reassessed the balance useful life of itsWindmills and Leasehold improvement (Furniture & fixtures ). Based on such reassessment, the estimatedbalance useful life has reduced from 6 years to 3 years and 16 years to 5 years respectively. Accordingly,the Company has provided additional depreciation amounting to Rs.505.34 lacs in respect of these assetsduring the year.F-109