Atul Ltd 2014-15

119 ( ` cr) NOTE 28.10 LOANS AND ADVANCES IN THE NATURE OF LOANS Particulars Purpose Amount outstanding as at Maximum balance during the year March 31, 2015 March 31, 2014 2014-15 2013-14 i) Subsidiary company: Atul Finserv Ltd – 4.12 4.12 4.12 Atul Bioscence Ltd Seed funding support as promoters 4.30 4.30 4.30 4.30 ii) Associate company: Amal Ltd Pursuant to the Board for Industrial and Financial Reconstruction order 14.88 14.88 14.88 14.88 Corporate guarantee Atul Europe Ltd Facilitate trade finance GBP 10,00,000 GBP 10,00,000 Notes: a) Loans given to employees as per the policy of the Company are not considered. b) The loanee did not hold any shares in the share capital of the Company. NOTE 28.11 EMPLOYEE BENEFITS Funded schemes a) Defined benefit plans: Expenses recognised for the year ended on March 31, 2015 (included in Note 25) ( ` cr) Particulars 2014-15 2013-14 Gratuity Gratuity 1 Change in present value of obligation: a) Present value of obligation at beginning of the year 41.79 41.32 b) Current service cost 2.27 1.92 c) Interest cost 3.88 3.31 d) Actuarial loss (gain) 2.13 (0.40) e) Benefits paid (5.63) (4.35) f) Present value of obligation at the end of the year 44.44 41.79 2 Change in fair value of plan assets: a) Fair value of plan assets at beginning of the year 41.79 41.32 b) Expected return on plan assets 3.63 3.62 c) Actuarial gain 1.90 0.06 d) Contributions 2.75 1.14 e) Benefits paid (5.63) (4.35) f) Fair value of plan assets at end of the year 44.44 41.79 3 Reconciliation of present value of the obligation and the fair value of plan assets and amounts recognised in the Balance Sheet: a) P resent value of the defined benefit obligation at the end of the year (44.44) (41.79) b) Fair value of plan assets at the end of the year 44.44 41.79 c) Net liability recognised in the Balance Sheet – – 4 Gratuity cost recognised during the year: a) Current service cost 2.27 1.92 b) Interest cost 3.88 3.31 c) Expected return on plan assets (3.63) (3.62) d) Actuarial loss 0.23 (0.46) e) Total expense 2.75 1.15 Notes to the Financial Statements