Statement of Assets and Liabilities for last Five Years and Latest ...

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(c) The company does not pay sales tax on purchase of leased assets. Sales tax on thepurchase / lease of rolling stock, if it becomes payable, is recoverable from Ministryof Railways in terms of the lease agreements. Since, there is no sales tax demandand the amount is unascertainable, no provision is made in the accounts.(d) The Companies (Second Amendment) Act, 2002 provides for levy of cess, towardsrehabilitation / revival of sick industrial companies, which shall not be less than0.005% but not more than 0.10% of the turnover or the gross receipts as theCentral Govt. may from time to time specify by notification in the Official Gazette.Since no notification has been issued, provision for cess has not been made.11. Expenditure in Foreign Currency (on payment basis)Particulars 2008 - 09(Rs. in Lacs)2007 - 08(Rs. in Lacs)a) Interest / Swap Cost on Foreign currencyborrowings (Net of Amount recovered on account ofIRS / IRC and from MoF)13898.17 13959.60b) Processing Agent / Fiscal Agent / Admn. fee (Netof Amount recovered from MoF)13.23 16.42c) Underwriting / Arranger fee 851.46 54.40d) International Credit Rating Agencies Fees 42.46 74.60e) Others 37.43 186.1412.(a) The company has not taken on lease any Rolling Stock assets during the year. All theassets taken on lease were in the years prior to 01-04-2001, worth Rs.157082 Lacs(ownership of the same vests with the lessors) stand sub-leased to Ministry ofRailways. The company has paid future lease rental liability on all the above leasesas detailed below:Year ofLeaseNo. ofLeasesValue of assetstaken on lease(Rs. In Lacs)Amount paid insettlement of futurelease rentals(Rs. in Lacs)1999-00 6 102085 374923841355342000-01 2 54997 2942322302Total 8 157082 152899Year of payment2001-022002-032003-042001-022003-04The amount paid in settlement of future lease rentals as above, is being amortised inthe accounts over the remaining period of the leases. During the year, an amount ofRs.18603 Lacs (Previous Year Rs.16749 Lacs) has been charged to Profit & LossAccount on account of such amortisation.
Since the entire future lease rental liability has been paid, there is no liability payablefor unexpired lease period (Previous Year-Nil).(b) During the year 1999 - 2000, the company entered into 6 lease agreements, with thefinancial institutions / banks as lessors, for a primary period of 10 years for anaggregate amount of Rs.102085 Lacs and sub-leased the same to MOR for a periodof 15 years. The company has paid upfront the future financial liability on all theseleases.Though, there is a mismatch in the tenor of the lease and sub-lease, there is nooverall mismatch in the present value of entire lease rentals payable and receivable.During the year, the company received lease rentals of Rs.14088 Lacs (P.Y. Rs.14088Lacs) and amortised (expensed) lease rentals of Rs.15092.40 Lacs (P.Y. Rs.13575.09Lacs) on these transactions.13. The balances under some items of Loans & Advances and current liabilities aresubject to confirmation and reconciliation and consequential adjustments, whereverapplicable. However, in the opinion of the Management, the realisable value of thecurrent assets, loans and advances in the ordinary course of business will not be lessthan the value at which they are stated in the Balance Sheet.14. (a) The company discharges its obligation towards payment of interest andredemption of bonds, for which warrants are issued, by depositing the amount inthe designated bank accounts. Reconciliation of such accounts is an ongoingprocess and has been completed upto 31-12-2008. The company does notforesee any additional liability on this account. The total balance held in suchspecified bank accounts as on 31-03-2009 is Rs.1153.68 Lacs (Previous YearRs.5209.33 Lacs).(b) The Company is required to transfer any amount remaining unclaimed and unpaidin such interest and redemption accounts after the completion of 7 years toInvestor Education Protection Fund (IEPF) administered by the Ministry ofCorporate Affairs, Govt. of India. Accordingly, during the year, the Companydeposited a sum of Rs.412.76 Lacs (P.Y. Rs.806.61 Lacs) in IEPF.15. During the year, the Company executed an Asset Securitisation Transaction bysecuritising an identified portion of future lease rentals of Rs.116050.65 Lacsoriginating on its assets leased to Ministry of Railways during the year 1998 - 99. Aspart of the securitisation transaction, future lease rental amount as mentioned abovewas transferred to a bankruptcy remote Special Purpose Vehicle (SPV) which, inturn, issued Pass Through Certificates (PTCs) to the prospective investors andrealised a sum of Rs.96208.49 Lacs. The lease receivables have since beenderecognised in the books of accounts of the company. The book value of thesefuture lease receivables was Rs.88840.75 Lacs, resulting in a profit of Rs.7367.74Lacs for the Company which as per RBI guidelines, is to be amortised over the life ofthe Pass Trough Certificates (PTCs) issued by the SPV. Out of the profit ofRs.7367.74 Lacs, a sum of Rs.936.72 Lacs pertaining to the current year has beenrecognised in the Profit and Loss Account, leaving a balance of Rs.6431.02 Lacs ason 31.3.2009 to be recognised over the remaining life of the PTCs.
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Statement of Assets and Liabilities
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CASH FLOW STATEMENTAnnexure - III(
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2. Reserves and Surplus( in Lakhs)P
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3.1.1 Maturity profile and Rate of
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65th "J" Taxable Non‐Cum. Bonds 8
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starting from 27‐07‐201416th "O
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HDFC Bank Ltd. 8.44%, Fixed 1‐Apr
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Syndicated Foreign Currency Loan‐
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As at30‐09‐2012As at31‐03‐2
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Total FixedAssets 1,721.57 1,707.80
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Balance in Franking Machine 0.34 0.
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18. Other IncomeTotal 268780.41 464
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Office Maintenance Expenses 20.25 3
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Significant Accounting policies and
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y the Reserve Bank of India vide th
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(f) (i) Interest rate variation on
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1 JPY 3 Billion 37.04 Million 1 JPY
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11.a. The Company has not taken on
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Gross Investment in Lease and Prese
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the year plan assetsTotal Gain / (L
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*The above provisions are liabiliti
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A. Significant Accounting PoliciesF
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Further, in terms of Draft Guidelin
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(P.Y. Rs. 4590 Lakhs). After adjust
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No. ofContractsAs at 31-03-2012 As
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10. Expenditure in Foreign Currency
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Page 55 and 56: Changes in the Fair Value of Plan A
Page 57 and 58: Actuarial Assumptions:AssumptionsGr
Page 59 and 60: amortised over the balance tenor of
Page 61 and 62: ) Recognition at the end of Account
Page 63 and 64: Deferred tax expense or benefit is
Page 65 and 66: Finance has exempted the Lease Agre
Page 67 and 68: The foreign currency borrowings out
Page 69 and 70: 10. Expenditure in Foreign Currency
Page 71 and 72: 15. Major components of net deferre
Page 73 and 74: Current Service Cost 3.05 1.63 1.02
Page 75 and 76: Actuarial Assumptions:As on 31-03-2
Page 77 and 78: portion of the future savings in th
Page 81 and 82: 10) Employee BenefitsEmployee Benef
Page 83 and 84: 5. Decrease in liability due to exc
Page 85 and 86: 7. Office Building including parkin
Page 87 and 88: 12. The balances under some items o
Page 89 and 90: Unearned Finance Income 2009322 171
Page 91 and 92: the yearActualReturn onplan assets1
Page 93 and 94: Statementof Profit &LossActuarial A
Page 95 and 96: amortised over the balance tenor of
Page 99 and 100: 10) Employee BenefitsEmployee Benef
Page 101 and 102: amortisation in future, of the amou
Page 103: As part of hedging strategy, the Co
Page 107 and 108: assets assigned during the yearF. C
Page 109 and 110: Benefits Paid - -Fair Value of Plan
Page 111 and 112: value Rs. 1,000/- eachc) Earning Pe
Page 113 and 114: Financial Year 2007-08A. Significan
Page 115 and 116: and are capable of reversal in one
Page 117 and 118: ForeignCurrency1 JPY 2.65 Billion U
Page 119 and 120: Govt. may from time to time specify
Page 121 and 122: previous Financial YearB. Less valu
Page 123 and 124: 22. Payment to auditors include Rs.
Page 125 and 126: Annexure - VIIStatement of Dividend
Page 127 and 128: Annexure - IXRelated Party Transact
Page 129 and 130: Annexure - XICapitalisation Stateme
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Page 133 and 134: '-. ,,, I__ , __ , _____ ~-~---..
Page 135 and 136: Credit Rating Report 1Indian Railwa
Page 137 and 138: Given IRFC's modest accruals to net
Page 139 and 140: Credit Strengths.. Strong ownership
Page 141 and 142: CREDIT PERSPECTIVEDependence on MOR
Page 143 and 144: Asset quality profile favourableGiv
Page 145 and 146: ANNEXURE 1: RATING DETAILSInstrumen
Page 147 and 148: ICRA Credit PerspectiveIndian Railw
Page 149 and 150: ·PROFIT: & .LOSS ACCOUNT_t'lo of O
Page 151 and 152: This is a system generated report a
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Sub : Trade statistics of IRFC N1 f
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This is a system generated report a
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This is a system generated report a
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Sub : Trade statistics of IRFC N2 f
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SCRIP CODE TRADE DATE ABBREVIATEDNA
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Ref. No. :NSE/LIST/2012Date :Decemb
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Sub : Trade Statistics Report from
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ANNXEUREIVCONSENT OF DEBENTURE TRUS
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