INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

BALANCE SHEETAs at 31st March, 2001SOURCES OF FUNDSSHAREHOLDERS FUNDSPOLICYHOLDERS FUNDSAPPLICATION OF FUNDSFor S B Billimoria & Co.Chartered AccountantsMumbai, 16th April, 2001123 68(Amount in Rs.)Particulars Schedule Current PreviousYearYearShare Capital 5 1,190,790,400 —Reserves and Surplus 6 — —Credit/(Debit) fair value change account — —Sub-total 1,190,790,400 —BORROWINGS 7 — —Credit/(Debit) fair value change account — —PolicyLiabilities — —Insurance Reserves — —Surplus in Revenue (Policyholders) Account 286,430Provision for Linked Liabilities 1,631,824 —Sub-total 1,918,254 —Funds for future appropriations — —Total 1,192,708,654 —INVESTMENTSShareholders 8 995,978,759 —Policyholders 8A 286,430 —Assets held to cover linked liabilities 1,631,824Loans 9 — —Fixed Assets 10 137,974,971 —Current AssetsCash and Bank Balances 11 44,462,037 —Advances and Other Assets 12 36,387,652 —Sub-total (A) 80,849,689 —Current Liabilities 13 107,211,437 —Provisions 14 — —Sub-total (B) 107,211,437 —Net Current Assets (C) = (A - B) (26,361,748) —Miscellaneous expenditure (to the extent notwritten off or adjusted ) 15 — —Debit Balance in Profit and Loss account 83,198,418 —(Shareholders Account )Total 1,192,708,654Significant Accounting Policies and Noteson Accounts 16Schedules referred to above form anintegral part of the accountsAs per our report of even date attachedFor and on behalf of the Board of DirectorsSanjiv Shah Peter Akers B.N. Puranmalka S.K. MitraPartner Chief Financial Officer Director DirectorSCHEDULE-1PREMIUM(Amount in Rs.)CurrentPreviousYearYearFirst Year Premium 3,235,041 —Renewal Premiums — —Single Premiums — —Reinsurance Premium — —Total Premiums 3,235,041 —Premium Income from Business written:In India 3,235,041 —Outside India — —Total Premium (Net) 3,235,041 —SCHEDULE-2COMMISSION EXPENSESCommision PaidDirect — First year premiums 641,317 —— Renewal Premiums — —— Single Premiums — —Add: Commission on Reinsurance Accepted — —Less: Commission on Reinsurance Ceded — —Others — —Net commission — —Total 641,317 —SCHEDULE-3OPERATING EXPENSES RELATED TO INSURANCE BUSINESSEmployee’s remuneration & welfare benefits 18,583,522 —Travel,conveyance and vehicle running expenses 7,169,911 —Rents,rates & taxes 10,138,771 —Repairs and Maintainance 1,749,514 —Printing and Stationery 702,410 —Communication expenses 1,920,007 —Legal & professional charges 18,354,001 —Medical Fees 49,350 —Auditor’s Fees,expenses,etc.(a) as auditor 500,000 —(b) as adviser or in any other capacity,in respect of(i) Taxation Matters —(ii) Insurance Matters —(iii) Management Services; and —(c) in any other capacityAdvertisement and publicity 22,166,653 —Interest & Bank Charges 40,110 —Others: a) Agents recruitment,training,seminar 4,342,851 —b) Hire charges,Insurance etc. 462,282c) Recruitment Expenses 718,026d) Training ,Seminar & conference 2,006,337e) IT Expenses (incl. maintenance ) 4,458,752f) Water, Electricity & other Misc. Exp 1,540,888Depreciation 4,586,220 —Total 99,489,604 —