Report of the Directors - UB Group

SchedulesAs atAs atMarch 31, 2005 March 31, 2004Rs. Rs. Rs. Rs.SCHEDULE 1SHARE CAPITALAuthorised100,000,000 Equity Shares of Rs.10 each 1,000,000,000 1,000,000,000Issued, Subscribed and Paid-up22,640,956 Shares of Rs 10 each fully paid(PY - 22,640,956 shares) 226,409,560 226,409,560(56,680 Shares @ Rs.7.50 per share were allottedwithout payment being received,9,606,815 shares allotted as Bonus throughcapitalisation of Reserves,1,375,427 shares allotted as per scheme of amalgamation &2,359,500 shares allotted against conversion of warrants.)Shares Pending Allotment(Refer Note 1(vi) of Schedule 12)7,079,993 Equity Shares (Previous Year Nil) ofRs. 10/- each fully paid up to be issuedto the shareholder of UBA-BVI pursuant to thescheme of amalgamation 70,799,930 –297,209,490 226,409,560SCHEDULE 2RESERVES AND SURPLUSCapital reserve 21,199,774 21,199,774Security premium 671,851,200 671,851,200Fixed assets revaluation reserve 1,660,753,840 2,051,483,935Less adjustment during the year – 1,660,753,840 390,730,095 1,660,753,840Contigency reserve 75,000,000 75,000,000Less: deducted from Profit & Loss a/c 75,000,000 – –per contra2,353,804,814 2,428,804,814SCHEDULE 3SECURED LOANSSecured Loan From HDFC 3,407,413,178 1,575,410,230From Bankers for Working Capital Loan 182,369,629 2,913,287From a Group Company 1,599,865,110 5,189,647,917 1,604,670,023 3,182,993,540UNSECURED LOANSPublic deposits 102,634,000 210,152,000(Amount Due within one year Rs. 68,852,000)(Deposits from a Director Rs. 1,00,000)Inter Corporate Deposits 47,500,000 150,134,000 – 210,152,0005,339,781,917 3,393,145,54027