Atul Ltd 2008-09

Schedules forming part of the Consolidated Account s | Annual Report 2008-09 6 Details of associates considered in consolidation: (Rs in lacs) Name of associate Country of Main activities Ownership Original cost of Amount of Accumulated Loss Carrying amount incorporation interest and investments goodwill | capital at the year end of investments at voting power reserve included (unaudited the year end in original cost accounts) (see Note) 1 2 3 4 5 6 7 8 (a) Amal Ltd* India Dye Intermediates 36.75% 515.15 - 5,569.03 24.20 (b) Gujarat Synthwood Ltd* India PVC sheets & Panels 34.64% 129.61 - 1,692.24 6.94 (c) AtRo Ltd* India Agrochemicals 50.00% 50.00 - 42.50 50.00 (d) Atul Bioscience Ltd India Pharmaceuticals 28.00% - - 343.83 - 694.76 - 7,647.60 81.14 Note: (i) After provision for diminution in value of investments in case of 'a' & 'b'. (ii) Value of investment in Atul Bioscience Ltd under column '5' and '8' is Rs140. (iii) *Figures are as at March 31, 2008. Particulars Accumulated as at Charge | credit Balance as at March 31, 2008 during the year March 31, 2009 Deferred tax liability on account of: Depreciation | impairment loss 2,826.56 272.04 3,098.60 2,826.56 272.04 3,098.60 Deferred tax assets on account of: Provision for leave encashment 392.51 21.84 414.35 43 B expenses allowable 84.73 (23.98) 60.75 Provision for doubtful debts 169.55 58.14 227.69 Provision for doubtful advances 160.84 183.76 344.60 Payment under VRS 408.04 (128.80) 279.24 1,215.67 110.96 1,326.63 1,610.89 161.08 1,771.97 Deferred tax assets of subsidiaries (2.66) 1.78 (0.88) Net deferred tax liability | (assets) 1,608.23 162.86 1,771.09 7 Taxation: (a) Provision for Income tax for the current year has been made under normal provision of the Income Tax Act, 1961 (b) Deferred taxation: (Rs in lacs) 8 Related party information: (a) Name of related party and nature of relationship: No Name of the related party Description of relationship 1 Amal Ltd Associate company 2 Gujarat Synthwood Ltd Jointly promoted company 3 AtRo Ltd Jointly promoted company 4 Key management personnel In Atul Ltd: Mr Sunil S Lalbhai - Chairman and Managing Director Mr Samveg A Lalbhai - Managing Director Mr J L Shah - Executive Director (up to December 31, 2008) Mr B N Mohanan - Wholetime Director (from January 01, 2009) In Atul Europe Ltd: Mr C J Bent - Director 5 Relatives of key management personnel: Dr Vimla S Lalbhai - Mother of Mr Sunil S Lalbhai Mrs Smita J Shah - Wife of Mr J L Shah SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS (Contd.) 103