Shriram City Union Finance Limited - Karvy

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Shriram City Union Finance LimitedStatement of Tax ShelterParticularsAnnexure XII(Rs. in lacs)For the year ended March31, 2011Profit as per accounting books (business) 36,060.09Profit as per accounting books (investments)Total profit as per accounting books 36,060.09Tax rate on business income 33.22%Tax rate on investment incomeTax on accounting profit 11,978.26Permanent DifferencesDonation 0.50Exempt Dividend IncomeDisallowance u/s 14ACapital gains on sale of fixed assetsOthers 13.94Sub Total (A) 14.44Temporary DifferencesDepreciation and Lease adjustments 0.03Provision for standard assets 1,714.89Leave Encashment, Gratuity & Bonus 68.30Derivative provision (546.62)Others 199.84Sub Total (B) 1,436.44Net Adjustments (A+B) 1,450.88Tax Impact on Net Adjustments 481.95Total Taxation 12,460.21Current Tax Provision for the year 12,460.20Notes:-1. Profits after tax are often affected by the tax shelters which are available.2. Some of these are of a relatively permanent nature while others may be limited in point of time.3. Tax provisions are also affected by timing differences which can be reversed in future.F-154
Shriram City Union Finance LimitedSignificant Accounting Policies & Notes to AccountsAnnexure XIII1. Significant Accounting Policies(A)Basis of preparationThe Consolidated financial statements relates to M/s. Shriram City Union Finance Company Limited (theCompany) and its subsidiary company. The Company and its subsidiary company constitute the Group.The financial statements have been prepared in conformity with generally accepted accounting principlesto comply in all material respects with the notified Accounting Standards (‘AS’) under CompaniesAccounting Standard Rules, 2006, as amended, the relevant provisions of the Companies Act, 1956 (‘theAct’) and the guidelines issued by the Reserve Bank of India (‘RBI’) as applicable to a Non BankingFinance Company (‘NBFC’). The financial statements have been prepared under the historical costconvention on an accrual basis.(B)Basis of consolidation(i) The financial statements of the subsidiary company Shriram Housing Finance Limited used in theconsolidation are drawn up to the same reporting date as of the Company i.e. period ended March 31, 2011and are prepared based on the accounting policies consistent with those used by the Company.(ii) The financial statements of the Group have been prepared in accordance with the Accounting Standard 21-‘Consolidated Financial Statements’ and Accounting Standard 23 – ‘Accounting for investments inAssociates in Consolidated Financial Statements, notified under the Companies (Accounting Standards)Rules, 2006, as amended and other generally accepted accounting principles in India.(iii) The consolidated financial statements have been prepared on the following basis :a. The financial statements of the company and its subsidiary company have been combined on a line-by-linebasis by adding together like items of assets, liabilities, income and expenses. The intra-group balancesand intra-group transactions and unrealised profits or losses have been fully eliminated.b. The excess of cost to the Company of its investments in the subsidiary company over its share of equityof the subsidiary company, at the dates on which the investments in the subsidiary company is made, isrecognised as ‘Goodwill’ being an asset in the consolidated financial statements. Alternatively, where theshare of equity in the subsidiary company as on the date of investment is in excess of cost of investment ofthe Company, it is recognised as ‘Capital Reserve’ and shown under the head ‘Reserves and Surplus’, inthe consolidated financial statement.c. Minority interest, if any, in the net assets of consolidated subsidiary consists of the amount of equityattributable to the minority shareholders at the dates on which investments are made by the Company inthe subsidiary company and further movements in their share in the equity, subsequent to the dates ofinvestments as stated above.(C)Use of estimatesThe preparation of financial statements in conformity with generally accepted accounting principlesrequires management to make estimates and assumptions that affect the reported amounts of assets andliabilities and disclosure of contingent liabilities at the date of the financial statements and the results ofoperations during the reporting year end. Although these estimates are based upon management’s bestknowledge of current events and actions, actual results could differ from these estimates. Any revisions tothe accounting estimates are recognized prospectively in the current and future years.F-155
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Draft ProspectusDated July 21, 2011
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SECTION I : GENERALDEFINITIONS / AB
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TermDebenture Holder (s)Debt Listin
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that notice of such early closure i
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TermROCRTGSSBISCRASCRRSEBIDescripti
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• Emergence of new competitors;
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SECTION II : RISK FACTORSProspectiv
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may be lower than the outstanding l
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and other liberalization measures a
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previous working relationship; succ
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As part of our means of raising and
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24. We may have to comply with stri
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valuation mechanism, which are pers
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Risks Relating to the Utilization o
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As on March 31, 2011, 24 % of our A
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5. Investors may contact the Regist
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Lead Managers:JM Financial Consulta
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Bankers to our CompanyANDHRA BANKCo
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STATE BANK OF BIKANER AND JAIPUR1 s
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warrant. CRISIL is not responsible
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We leverage on the Shriram Group’
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Access to a range of cost effective
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THE ISSUEThe following is a summary
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SUMMARY FINANCIAL INFORMATIONThe fo
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B. SUMMARY INFORMATION OF OUR UNCON
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C. SUMMARY INFORMATION OF OUR UNCON
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ParticularsFor the year ended March
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E. SUMMARY INFORMATION OF OUR CONSO
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F. SUMMARY INFORMATION OF OUR CONSO
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CAPITAL STRUCTUREDetails of share c
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Date of AllotmentNumber of sharesis
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Sr.NoCategory ofShareholderNumberof
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Sr. No. Name of holder Number ofins
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11. List of top ten holders of Secu
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Employee Stock Option SchemesPursua
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STATEMENT OF TAX BENEFITSUnder the
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provisions of Chapter XII-A shall c
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SECTION IV : ABOUT THE ISSUER COMPA
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Initially, the NBFCs registered wit
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Overall Demand Drivers in the Two W
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wheelers and similar forms of intra
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Players are now adopting stringent
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Growth in CV finance disbursements`
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SI.No.YearTotalMSMEs(lakhnumbers)Fi
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women and all loans to the North Ea
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segment and the ability to provide
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NBFCs in the Indian gold loans mark
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We leverage on the Shriram Group’
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Access to a range of cost effective
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Our Company’s ProductsProduct Fin
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All customer origination and evalua
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maintain low gross and net NPA leve
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The following table sets forth the
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Credit RatingAgencyCAREInstruments
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TechnologyWe use information techno
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act as, and to undertake and carry
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Company equal to or more than 7% of
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(c) Term and termination: Either pa
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Pursuant to the Agreement, the Inve
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• more than 50% of the fully dilu
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OUR MANAGEMENTBoard of DirectorsThe
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Name, Designation,Age and DINNation
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commercial banks. He was the chairm
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Remuneration of the DirectorsThe in
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A. Audit CommitteeThe members of th
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To form Sub CommitteesD. Asset liab
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OUR PROMOTERProfile of our Promoter
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Particulars FY 2008 FY 2009 FY 2010
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Particulars FY 2008 FY 2009 FY 2010
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Sr.No.Name of Shareholder Address N
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PIJUSH GUPTA & COC H A R T E R E D
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8. This report should not be in any
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Annexure IShriram City Union Financ
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Annexure IIShriram City Union Finan
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Shriram City Union Finance LimitedA
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Annexure IIIShriram City Union Fina
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Annexure IVShriram City Union Finan
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Annexure VShriram City Union Financ
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Annexure VIShriram City Union Finan
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Annexure VIIShriram City Union Fina
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Annexure VIIIShriram City Union Fin
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Annexure IXShriram City Union Finan
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Annexure IXC. Cash Credit from Bank
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Annexure XShriram City Union Financ
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Annexure - XIIShriram City Union Fi
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c. Fixed Assets, Depreciation / Amo
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g. Revenue recognitioni. Income fro
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j. Segment reportingThe company ope
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2010 - 20112. Notes to Accounts1. P
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c) Term Loans:i. From Financial Ins
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Changes in the present value of the
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Enterprises havingsignificant influ
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Deferred Tax AssetTiming difference
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Stock Options grantedThe weighted a
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12. SecuritizationThe information o
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c) All Debentures under (a) and (b)
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Balance sheetDetails of Provision f
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(Rs. In Lacs)Enterprises havingsign
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5. Deferred Tax Liabilities/(Asset)
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The details of Series I have been s
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Since the enterprise used the intri
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13.1 Licensed Capacity, Installed c
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) Term Loans:As at March 31,2009(Rs
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Profit and Loss accountNet employee
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The estimates of future salary incr
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7. Related Party DisclosuresRelated
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* Denotes transactions with Shriram
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(Rs. in lacs)As at March 31, As at
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Stock Options grantedSeries I:The w
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15. SecuritisationThe Company sells
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2007 - 20082. Notes to Accounts1. P
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2. Subordinated DebtThe Company has
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The principal assumptions used in d
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6. Related Party DisclosuresRelated
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Page 297 and 298: (E)InvestmentsInvestments intended
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Page 303 and 304: Balance sheetDetails of Provision f
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Page 315 and 316: Sr.No.Particulars16. Industrial Dev
Page 317 and 318: Sr.No.Particulars Date of sanction
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Page 321 and 322: SECTION VI : ISSUE RELATED INFORMAT
Page 323 and 324: person, being a nominee, becoming e
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Page 329 and 330: Please note that failure to do so c
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12. Allotment Advice / Refund Order
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iii) In the event, there are more t
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SECTION VII : LEGAL AND OTHER INFOR
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within the meaning of section 271 (
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OTHER REGULATORY AND STATUTORY DISC
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ActivityFees payable legal advisors
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(Source: www.bseindia.com)NSEMonth
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Year ended As at 31st March` In Lak
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(ii)NBFCs are not allowed to deal i
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when hire charges are actually rece
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different rates of interest for dif
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Labour LawsThe Company is required
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…Clause (3) of Article 42 at thei
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MATERIAL CONTRACTS AND DOCUMENTS FO
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DECLARATIONWe, the Directors of the
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