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

*The above provisions are liabilities in accordance with terms of employment. Payment ofIncentives / Performance Related Pay (PRP) shall be made as and when they became due.Provision for LTC is in accordance with the Accounting Standard 15 (Revised).Further, provision for Income Tax is in terms of Income Tax Act, 1961 and shall be adjusted aftercompletion of assessment.17. The Company is in the business of leasing and financing. As such, there are no separatereportable business segments within the meaning of Accounting Standard (AS)‐17 on‘Segment Reporting’ issued by the Institute of Chartered Accountants of India.18. In line with requirements of Accounting Standard (AS) ‐18 ‘Related Party Disclosures’ issued bythe Institute of Chartered Accountants of India (ICAI), the details are as under:Key Management personnel:a) Sh. Rajiv Datt, Managing Directorb) Sh. D.C. Arya, Director FinanceAmount paid to Key Management Personnel:(Rs. in Lakhs)ParticularsFor the HY ending 2011‐1230‐9‐12Salary / Allowances 15.87 16.77Reimbursement 0.23 0.16Foreign Service Contribution 0.00 0.90Incentive 5.84 11.6819. (a) During the year 2003‐04, the company restructured the rate of interest on certainoutstanding borrowings from LIC and paid Rs.2403 Lakhs as advance, representing a portion ofthe future savings in the interest cost. This advance amount is being amortised over the balancetenor of the borrowings. During the half year, a sum of Rs. 18 Lakhs (P.Y. Rs. 66 Lakhs) has beenamortised, leaving a balance of Rs. 25 Lakhs as on 30‐09‐2012 (P.Y. Rs. 43 Lakhs).(b) During the year 2004‐05, the company restructured the rate of interest on certainoutstanding borrowings from IDBI Ltd. and paid Rs.1378 Lakhs as advance, representing aportion of the future savings in the interest cost. This advance amount is being amortised overthe balance tenor of the borrowings. During the half year, a sum of Rs.13 Lakhs (P.Y. Rs.35 Lakhs)has been amortised, leaving a balance of Rs.35 Lakhs as on 30‐09‐2012 (P.Y. Rs.48 Lakhs).20. Interest on Deposits (Note No.19) includes Tax Deducted at Source amounting to Rs. Nil Lakhs(P.Y. Rs.69 Lakhs). Ministry of Railways has also deducted tax at source amounting to Rs.18418Lakhs (P.Y. Rs. 14824 Lakhs).21. The Company has a system of obtaining balance confirmation from Ministry of Railways at theend of the Financial Year. Therefore, the amount recoverable / payable from / to MOR as on 30 thSeptember 2012 is subject to confirmation and consequential adjustments wherever required.However, in the opinion of management such receivable / payable in the ordinary course ofbusiness will not be less than the value at which they are stated in the Balance Sheet.22. Certain disclosures are required to be made under the Micro, Small and Medium EnterprisesDevelopment Act, 2006. The Company is in the process or compiling relevant information from