2007-08 - Aditya Birla Nuvo, Ltd

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SCHEDULESSCHEDULE 19 (Contd.)SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTSCurrent YearRs. CroresPrevious YearJagdishpur, and hypothecation of movable properties of theCompany relating to these plants, Garment Division atBangalore and Financial Services Division and Corporate FinanceDivision at Mumbai, and the entire current assets (save andexcept investments) of the Company. 180.00 225.00j) Term Loan secured by way of second pari passu charge createdby way of mortgage of immovable properties of the Company’sRayon & Caustic Soda Plant at Veraval, Textiles Plants at Rishra,Carbon Black Plant at Renukoot and Argon Gas Plant atJagdishpur, and hypothecation of movable properties of theCompany relating to these plants, Garment Division atBangalore and Financial Services Division (other than vehicles)and Corporate Finance Division at Mumbai and the entirecurrent assets (save and except investments) of the Company. 190.00 190.00k) Term Loan secured by way of second pari passu charge createdby way of mortgage of the immovable properties of theCompany’s Rayon & Caustic Soda Plant at Veraval, Textile Plantat Rishra, Carbon Black Plant at Renukoot and Argon Gas Plantat Jagdishpur, and hypothecation of movable properties of theCompany relating to these plants, Garment Division atBangalore and Financial Services Division (other than vehicles)and Corporate Finance Division at Mumbai, the entire currentassets (except investments) of the Company and Brand Rights/Trademarks owned by Garments Division, Bangalore. 276.66 310.00l) Foreign Currency Loan secured by way of first pari passu chargecreated by hypothecation of movable properties (save andexcept stocks and book debts) of the Company situated atGummidipoondi. 158.82 158.82m) Foreign Currency Loan secured by way of first pari passu chargecreated by hypothecation of movable properties (except currentassets) situated at Veraval, Rishra (Textile Division), Jagdishpur(Argon Gas Plant) and Renukoot, subject to prior charge(s)created on certain assets in favour of a Financial Institution. 39.16 39.16n) Foreign Currency Loan secured by way of first pari passu chargeon all movable assets (excluding current assets) of the Companysituated at its Fertiliser Plant (excluding assets relating to ArgonGas Plant) and mortgage (to be created) of immovableproperties of the Company’s Fertiliser Plant (excluding assetsrelating to Argon Gas Plant) at Jagdishpur. 81.12 88.46o) Foreign Currency Loan secured by way of exclusive first chargecreated by hypothecation of Brand Rights/Trademark acquiredthere-against. — 9.06p) Working Capital Borrowings are secured by hypothecation ofinventories, book debts and other movables, both present andfuture, held as current assets. 229.88 471.02q) Deferred sales tax loan for the Caustic Soda Unit at Veraval to(96)
SCHEDULESSCHEDULE 19 (Contd.)SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTSCurrent YearRs. CroresPrevious Yearbe secured by first pari passu charge over the fixed assets ofCaustic Soda Unit of the Company at Veraval and for CarbonBlack Plant at Gummidipoondi to be secured by second paripassu charge over the fixed assets of the respective plant. 81.00 75.33r) Term Loans secured by way of first charge created by mortgageof the immovable properties situated at Insulator Division, Halol,and hypothecation of movable properties (except currentassets) of the Insulator Divisions of the Company situated atHalol and Rishra. 10.00 —s) Car Loans secured by way of first exclusive charge on assetsacquired there-against. — 0.14II)Foreign Currency Loans have been fully hedged for foreign exchange and interest rate fluctuation by way ofCurrency and Interest Rate swaps except ECB of Rs. 39.97 Crores in which case money is parked abroadpending utilisation. Hence, the year-end balances are reflected at the contracted exchange rate.Rs. CroresCurrent Year Previous Year9. a) Capital Work-in-Progress includes advances to suppliers: 35.96 22.00b) Pre-operative Expenses:Interest 4.34 0.98Salaries and Wages — 0.07Miscellaneous Expenses — 0.06Power and Fuel 0.52 0.61Amount Capitalised 4.86 1.7210. a) Market/Book Values of certain long term quoted investments aggregating to Rs. 100.30 Crores (Previous Year:Rs. 100.30 Crores) and unquoted investments aggregating to Rs. 970.45 Crores (Previous Year: Rs. 524.23Crores) are lower than its cost.Considering the strategic and long-term nature of the aforesaid investments and asset base & business plan ofthe investee companies, in the opinion of the management, the decline in the market/book value of theaforesaid investments is of temporary nature, requiring no provision.An amount of Rs.19.95 Crores is lying in “Investment Reserve” is to be used to meet the diminution other thantemporary, if any, that may arise in future, in the value of present and future long term strategic investments.b) Transfer of investments in IDEA Cellular Ltd. (IDEA), Birla Sun Life Insurance Co. Ltd., Birla Sun Life Asset ManagementCompany Ltd., Birla Sun Life Distribution Company Ltd. and Birla Sun Life Trustee Company Pvt. Ltd. is restrictedby the terms contained in their respective joint venture agreements. Non-disposal undertakings for IDEA, AdityaBirla Minacs Worldwide Ltd. (ABMWL), Madura Garment Exports Ltd. (MGEL) and Crafted Clothing Pvt. Ltd. (CCPL)investment have also been provided to certain Banks for respective credit facilities extended by them.c) Pursuant to the Shareholders’ Agreement entered into with the Joint Venture partner, the Company has, inrespect of Birla Sun Life Insurance Company Limited, agreed to infuse its share of capital from time to time tomeet the solvency requirement prescribed by the regulatory authority.(97)
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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 -
Page 47 and 48: ENVIRONMENT REPORTElements for the
Page 49 and 50: SHAREHOLDER INFORMATION6c. Domestic
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Page 57 and 58: SHAREHOLDER INFORMATIONAccordingly,
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Page 77 and 78: AUDITORS’ REPORT TO THE MEMBERSAn
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Page 81 and 82: PROFIT & LOSS ACCOUNT FOR THE YEAR
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Page 85 and 86: SCHEDULESRs. CroresAs atAs atFace V
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Page 91 and 92: SCHEDULESSCHEDULE 19SIGNIFICANT ACC
Page 93 and 94: SCHEDULESSCHEDULE 19 (Contd.)SIGNIF
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Page 121 and 122: SEGMENT DISCLOSURES FOR THE YEAR EN
Page 123 and 124: CASH FLOW STATEMENT FOR THE YEAR EN
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SCHEDULES FORMING PART OF CONSOLIDA
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SEGMENT DISCLOSURES FOR THE YEAR EN
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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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