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

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(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 no overallmismatch in the present value of entire lease rentals payable and receivable. Duringthe year, the company received lease rentals of Rs.14088 Lacs and amortised(expensed) lease rentals of Rs. 13575.09 Lacs on these transactions.12. 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.13. The company discharges its obligation towards payment of interest and redemption ofbonds, for which warrants are issued, by depositing the amount in the designated bankaccounts. Reconciliation of such accounts is an ongoing process and has beencompleted upto 31-12-2007. The company does not foresee any additional liabilityon this account. The total balance held in such specified bank accounts as on 31-03-2008 is Rs. 5209.33 Lacs (Previous Year Rs. 9012.97 Lacs).14. The Company has taken short term loans of Rs. 36350 Lacs (P.Y. Rs. 57145 Lacs)from banks against the pledge of fixed deposits of Rs. 45000 Lacs (P.Y. 65784 Lacs).15. The major components of net deferred tax liability are as under:(Rs. in Lacs)As at 31-03-2008 As at 31-03-2007Liability on account of difference438028 423922between WDV as per Income Tax, Actand Companies Act.Less: Deferred Tax Asset on account234718 242292of Unabsorbed DepreciationLess: Deferred Tax Asset on account17830 10605of MAT CreditLess: Deferred Tax Asset on account15 11of Employee benefitsNet Deferred Tax Liability 185465 17101416. Long Term Loans & Advances (Schedule 5) include Lease Receivables representingthe present value of future Lease Rentals receivable on the finance lease transactionsentered into by the company since inception as per the Accounting Standard(AS) – 19 issued by the Institute of Chartered Accountants of India.The reconciliation of the Lease Receivable amount on the Gross value of RollingStock assets worth Rs. 4198893 Lacs (P.Y. Rs. 3738412 Lacs) owned by the companyand leased to the Ministry of Railways is as under:(Rs. in Lacs)Particulars As at 31-03-08 As at 31-03-07A. Gross Value of Assets acquired & Leased upto the end of 3738412 3321407
previous Financial YearB. Less value of assets assigned during the year 104105 -C=(A-B) 3634307 3321407D. Less: Capital Recovery provided upto last Year 1458703 1301014E. Less Capital Recovery provided upto last year on assets21419 -assigned during the yearF. Capital Recovery upto last year (D-E) 1437284 1301014G. Capital Recovery Outstanding on leased assets as at the 2197023 2020393end of last year (C-F)H. Add: Gross Value of Assets acquired and Leased during 460481 417005the yearI=G+H 2657504 2437398J. Capital Recovery for the year 155440 157689K. Less: Capital Recovery for the year on assets securitised5465 -during the yearL. =J-K 149975 157689Net investment in Lease Receivables as on 31-03-2008 2507529 2279709The value of contractual maturity of such leases as per AS–19 is as under:-(Rs. in Lacs)Particulars As at 31-03-2008 As at 31-03-2007Gross Investment in Lease 3922010 3547854Unearned Finance Income 1414481 1268145Present Value of Minimum LeasePayment (MLP)2507529 2279709Gross Investment in Lease and Present value of Minimum Lease Payments (MLP) foreach of the periods are as under:(Rs. in Lacs)As at 31-03-2008 As at 31-03-2007ParticularsGrossInvestmentin LeasePresentValue ofMLPGrossInvestmentin LeasePresentValue ofMLPLess than one year 362746 154171 335053 149980One to five years 1439193 768048 1268146 660691Greater than fiveYears2120071 1585310 1944655 1469039Total 3922010 2507529 3547854 2279709The unearned finance income as on 31-03-2008 is Rs. 1414481 Lacs (Previous Year Rs.1268145 Lacs).The company has leased rolling stock assets to the Ministry of Railways (MOR). Aseparate lease agreement for each year of lease has been executed and as per the termsof the lease agreements, lease rentals are received half yearly in advance. The leasesare non cancellable and shall remain in force until all amounts due under the leaseagreements are received.17. 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.
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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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E. Less Capital Recovery provided u
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Changes in the Fair Value of Plan A
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Actuarial Assumptions:AssumptionsGr
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amortised over the balance tenor of
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) Recognition at the end of Account
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Deferred tax expense or benefit is
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Finance has exempted the Lease Agre
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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 79 and 80: ) Recognition at the end of Account
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 97 and 98: ) Recognition at the end of Account
Page 99 and 100: 10) Employee BenefitsEmployee Benef
Page 101 and 102: amortisation in future, of the amou
Page 103 and 104: As part of hedging strategy, the Co
Page 105 and 106: Since the entire future lease renta
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: Govt. may from time to time specify
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
Page 155 and 156: Sub : Trade statistics of IRFC N1 f
Page 161 and 162: Sub : Trade statistics of IRFC N2 f
Page 163 and 164: 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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