2007-08 - Aditya Birla Nuvo, Ltd

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SCHEDULESSCHEDULE 19 (Contd.)SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS15. The following amount are included in the Miscellaneous Expenses inProfit and Loss Account:Current YearRs. CroresPrevious Yeara) Foreign Exchange difference (Net) (2.28) (0.40)b) All Insurance Claims (unless clearly identifiable with the respectiveheads of expenses and Loss of Profit policy) (4.10) (2.57)c) Unspent liabilities, excess provision and unclaimed balances inrespect of earlier years written back (net of short provision andsundry balances written off ) (5.43) (9.36)d) (Profit)/Loss on sale/discard of Fixed Assets (Net) (7.18) (2.66)16. The Donation includes Contribution to General Electoral Trust for politicalpurpose for distribution to political parties/persons 0.30 —17. The Company has taken certain office premises, showrooms andresidential houses on non-cancellable operating lease.a) The future minimum lease rental payments, in respect of thenon-cancellable operating lease, are as follows:i) Not later than one year 66.59 34.30ii) Later than one year and not later than five years 56.64 27.89iii) Later than five years — —18. The Company has given certain Plant and Machinery (Storage Tank)on non-cancellable operating lease.The Gross carrying amount of the above referred assets 4.90 4.90The accumulated depreciation for the above assets 1.36 1.12The depreciation for the above assets for the year 0.23 0.23The future minimum lease rental, in respect of the aforesaid lease, is as follows:i) Not later than one year 1.71 1.70ii) Later than one year and not later than five years 2.53 2.95iii) Later than five years 0.46 0.5419. EXCEPTIONAL ITEMSThe Company has sold its undertaking Rajashree Syntex (RST), Midnapur, as of June 30, <strong>2007</strong>, on a going concernbasis for a consideration of Rs. 5.06 Crores and profit on sale of Rs. 0.73 Crores has been reflected under the head“Gain on sale of undertaking”. The RST is reported as a part of “Textiles” business segment.(100)
SCHEDULESSCHEDULE 19 (Contd.)SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS20. RETIREMENT BENEFITSa) The details of the Company’s defined benefit plans for itsemployees are given below:Current YearRs. CroresPrevious YearAmounts recognised in the Balance Sheet in respect ofgratuity (funded by the Company):Present Value of the funded defined benefit obligationat the end of the period 64.28 49.02Fair Value of plan assets 61.36 49.17Net Liability/(Asset) 2.92 (0.15)Amounts recognised in Salary, Wages andEmployee Benefits in the Profit and Loss Account inrespect of gratuity (funded by the Company):Current Service Cost 4.37 3.48Interest on Defined Benefit Obligations 4.45 3.45Expected Return on Plan Assets (4.30) (3.30)Net Actuarial (Gain)/Loss recognised during the period 2.91 (1.13)Net Gratuity Cost 7.43 2.50Actual Return on Plan Assets :Expected Return on Plan Assets 4.30 3.30Actuarial Gain/(Loss) on Plan Assets (1.65) (0.06)Actual Return on Plan Assets 2.65 3.24Reconciliation of present value of the obligation andthe fair value of the plan assets:Opening Defined Benefit Obligation 49.02 47.64Current Service Cost 4.37 3.48Interest Cost 4.45 3.44Actuarial (Gain)/Loss 1.26 (1.19)Liability assumed on Amalgamation 8.66 —Benefits Paid (3.48) (4.35)Closing Defined Benefit Obligation 64.28 49.02Change in Fair Value Plan Assets:Opening Fair Value of the Plan Assets 49.17 46.18Expected Return on Plan Assets 4.30 3.30Actuarial Gain/(Loss) (1.65) (0.06)Assets acquired on Amalgamation 9.69 —Contributions by the Employer 3.33 4.10Benefits Paid (3.48) (4.35)Closing Fair Value of the Plan Assets 61.36 49.17(101)
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Mr. G. D. Birla and Mr. Aditya Birl
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THE CHAIRMAN’S LETTER TO SHAREHOL
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THE CHAIRMAN’S LETTER TO SHAREHOL
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ADITYA BIRLA NUVO LIMITEDBOARD OF D
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FINANCIAL HIGHLIGHTS - STANDALONERs
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MANAGEMENT’S DISCUSSION AND ANALY
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CORPORATE GOVERNANCE REPORTGovernan
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CORPORATE GOVERNANCE REPORT1. Manag
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CORPORATE GOVERNANCE REPORTEmployee
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CORPORATE GOVERNANCE REPORTAll the
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CORPORATE GOVERNANCE REPORTMEANS OF
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SOCIAL REPORTTranscending BusinessS
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SOCIAL REPORTMaking a difference -
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ENVIRONMENT REPORTElements for the
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SHAREHOLDER INFORMATION6c. Domestic
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CONSOLIDATED CASH FLOW STATEMENT AS
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ANNEXURE ‘1’ OF STATEMENT PURSU
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STATEMENT PURSUANT TO SECTION 212(8
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ANNEXURE ‘A’ OF STATEMENT U/S 2
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ANNEXURE ‘A’ OF STATEMENT U/S 2
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ADITYA BIRLA NUVO LIMITEDRegistered
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2007-08 - Aditya Birla Nuvo, Ltd

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