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

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Financial Year 2008-09A. Significant Accounting Policies1) Basis for preparation of Financial Statementsa) The financial statements are prepared under the historical cost convention, inaccordance with the Generally Accepted Accounting Principles, the Provisions of theCompanies Act, 1956 and the applicable guidelines issued by the Reserve Bank ofIndia as adopted consistently by the Company.b) Use of EstimatesThe preparation of financial statements in conformity with Generally AcceptedAccounting Principles requires management to make estimates and assumptions thataffect the reported amounts of asset and liabilities, disclosure of contingent assetsand liabilities at the date of the financial statements and the reported amounts ofrevenue and expenses during the reporting period. Examples of such estimatesinclude estimated useful life of fixed assets and estimated useful life of leased assets.Management believes that estimates used in the preparation of financial statementsare prudent and reasonable. Actual results could differ from these estimates.Adjustments as a result of differences between actual and estimates are madeprospectively.2) Revenue Recognitiona) Lease Income in respect of assets given on lease (including assets given prior to 01-04-2001) is recognised in accordance with the accounting treatment provided inAccounting Standard -19.b) Lease Rentals on assets taken on lease and sub-leased to Ministry of Railways (MOR)prior to 01.04.2001, are accounted for at the rates of lease rentals provided in theagreements with the respective lessors and the sub-lessee (MOR), on accrual basis,as per the Revised Guidance Note on accounting for Leases issued by the Institute ofChartered Accountants of India (ICAI).c) Interest Income is recognised on time proportion basis. Dividend Income isrecognised when the right to receive payment is established.d) Income relating to non performing assets is recognised on receipt basis inaccordance with the guidelines issued by the Reserve Bank of India.3) Foreign Currency Transactionsa) Initial RecognitionAt the rates prevailing on the date of transactioni) for acquisition of assets, andii) for interest payment on Loans, Commitment Charges and expenses.
) Recognition at the end of Accounting PeriodForeign Currency monetary assets and liabilities, other than the foreign currencyliabilities swapped into Indian Rupees, are reported using the closing exchange ratein terms of the provisions of AS 11 issued by the Institute of Chartered Accountantsof India.Foreign Currency Liabilities swapped into Indian Rupees are stated at the referencerates fixed in the swap transactions, and not translated at the year end rate.c) Exchange Differencesi) Exchange differences arising on the actual settlement of monetary assets andliabilities at rates different from those at which they were initially recorded duringthe year, or reported in previous financial statements, other than the exchangedifferences on settlement of foreign currency loans and interest thereonrecoverable separately from the lessee under the lease agreements, arerecognised as income or expenses in the year in which they arise.ii) Notional Exchange Differences arising on reporting of outstanding long termforeign currency monetary assets and liabilities at rates different from those atwhich they were initially recorded during the year, or reported in previousfinancial statements, other than the exchange differences on translation offoreign currency loans and interest thereon recoverable separately from thelessee under the lease agreements, are transferred to a ‘Foreign CurrencyMonetary Item Translation Difference Account’ in terms of the notification no. F.No. 17/33/2008/CL-V dated 31 st March 2009 issued by the Govt. of India,Ministry of Corporate Affairs in modification of AS-11.iii) In respect of forward exchange contracts, the difference between the forwardrate and exchange rate on the date of transaction are recognised as income orexpenses over the life of the contract.4) InvestmentsInvestments are classified into long term investments and current investments basedon intent of management at the time of making the investment. Investments intendedto be held for more than one year, are classified as long-term investments.Current investments are valued at lower of cost or market value. Long-terminvestments are valued at cost unless there is depreciation, other than temporary, intheir value.5) Leased AssetsLease arrangements where the risks and rewards incidental to ownership of an assetsubstantially vest with the lessee , are recognised as financial leases and are shown asReceivable in the Balance Sheet at an amount equal to the net investment in the lease,in accordance with Accounting Standard-19 ‘Leases’ issued by the Institute ofChartered 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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Page 47 and 48: (P.Y. Rs. 4590 Lakhs). After adjust
Page 49 and 50: No. ofContractsAs at 31-03-2012 As
Page 51 and 52: 10. Expenditure in Foreign Currency
Page 53 and 54: E. Less Capital Recovery provided u
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 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: 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 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 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
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ICRA Credit PerspectiveIndian Railw
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·PROFIT: & .LOSS ACCOUNT_t'lo of O
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This is a system generated report a
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Sub : Trade statistics of IRFC N1 f
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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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