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

In terms of the transitional provision of AS 15 (Revised), excess liability (Net ofDeferred Tax Assets) appearing in the books of accounts as on 01.04.2008amounting to Rs.11.39 Lacs has been transferred to the opening balance of GeneralReserve Account.19. In accordance with Accounting Standard 29, particulars of provisions are as under:2008-09 2007-08Incentives/PRP Gratuity &LeaveEncashmentIncentives/PRP Gratuity &LeaveEncashmentOpening Bal. 5.50 44.17 4.63 31.96Addition during 12.50 16.94 5.50 13.59the yearAmount used / 12.06 0.46 4.75 1.38incurredUnused Amount (6.56) 17.25 (0.12) -reversed duringthe yearClosing Balance 12.50 43.40 5.50 44.17The above provisions are liabilities in accordance with terms of employment.Payment of Incentives / Performance Related Pay (PRP) shall be made as and whenthey became due. Provision for Gratuity is in accordance with the AccountingStandard 15 (Revised) and that for leave encashment is as per Company’s policy.20. The Company is in the business of leasing and financing. As such, there are noseparate reportable business segments as per Accounting Standard (AS)-17 on‘Segment Reporting’ issued by the Institute of Chartered Accountants of India.21. As per Accounting Standard (AS) -18 ‘Related Party Disclosures’ issued by theInstitute of Chartered Accountants of India (ICAI), the details are as under:Key Management personnel:a) R. Kashyap, Managing Directorb) S. K. Kaushik, Director FinanceThe payments to key management personnel are given under note no. 9 (a) & (b)above.No other transaction except the above has been entered into with any of the keymanagement personnel, their relatives, concerns in which they are interested.22. The calculation of Earnings Per Share as required under Accounting Standard (AS) –20 is as under:Basic EPSYear2008-09 2007-08a) Profit after tax Rs. 18079.16 Lacs Rs. 42151.33 Lacsb) No. of equity shares of face 50,00,000 50,00,000