president & cfo - UB Group

Consolidated Financial StatementSchedules forming part of account for the year ended March 31, 2009 (Contd.)17. Foreign Currency Transactions (Contd.)(i) In so far as they relate to the acquisition of depreciable capital assets, are added to or deducted fromthe cost of asset and are depreciated over the balance life of the asset. This, however, did not have anyimpact on the results for the year ended March 31, 2009; and(ii)In other cases, the said exchange differences are accumulated in a ‘Foreign Currency Monetary ItemTranslation Difference Account’ and amortised over the balance period of such long term asset/liabilitybut not beyond March 31, 2011. Exchange difference recognised in the Profit and Loss Account uptolast financial year ending March 31, 2008 relating to said long term monetary items in foreign currencyaggregating to Rs. 99.360 Million (net of deferred tax Rs. 48.014 Million) has been credited to the openingrevenue as provided in the rules. As a result of this change in accounting for exchange difference, netLoss for the year is lower by Rs. 8,817.723 Million. The amount remaining to be amortised in the financialstatement as on March 31, 2009 is Rs.5,597.523 Million.18. a) Previous year’s figures have been regrouped / re-arranged wherever necessary.b) In view of the amalgamation described in Note 2 above, the figures for the year ended March 31, 2009 arenot comparable with those of previous year.J. MAJUMDAR M. R. DORAISWAMY IYENGAR V. K. REKHIPartner Director Managing DirectorFor and on behalf ofPrice Waterhouse V. S. VENKATARAMAN P. A. MURALIChartered Accountants Company Secretary Chief Financial OfficerBangaloreBangaloreJuly 29, 2009 July 29, 2009115