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Schedules
forming part of the accounts
SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS
(contd)
17 Loans and advances in nature of loans
(
`
crores)
Particulars
Amount
outstanding
as at March
31, 2011
Maximum
balance
during the
year
(i) Subsidiary:
Ameer Trading Corporation Ltd (including interest)
13.40
13.40
(ii) Associate company:
Amal Ltd
14.88
21.29
(iii) Loan to other:
Atul club
1.42
1.42
Note:
(a) No repayment Schedule for (i) and (iii)
(b) Loans given to employees as per the policy of the Company are not considered.
18 Employee benefits
(a) Defined benefit plans:
Expenses recognised for the year ended on March 31, 2011 (included in Schedule 13 of Profit and Loss
Account)
(
`
crores)
Particulars
2010-11
Gratuity
funded
2009-10
Gratuity
funded
1 Current service cost
1.40
1.38
2 Interest cost
2.36
2.06
Amounts receivable or payable in foreign currency on account of the following:
Current Year
Previous Year
Particulars
US$
equivalent
(crores)
Euro
equivalent
(crores)
Others
equivalent
(crores)
US$
equivalent
(crores)
Euro
equivalent
(crores)
Others
equivalent
(crores)
Debtors
2.62
0.27
-
2.34
0.45
0.01
Creditors
0.57
-
0.13
0.92
-
0.02
Loans Taken
2.51
-
-
1.44
-
-
(c) Financial derivatives hedging transactions:
Pursuant to the announcement issued by the Institute of Chartered Accountants of India dated March
29, 2008 in respect of forward exchange contracts and currency and interest rate swaps, the Company
has applied the Hedge accounting principles set out in the Accounting Standard (AS) 30 ‘Financial
Instruments: Recognition and Measurement’. Accordingly, range forward contracts are marked to market
and the loss aggregating
`
5.09 crores (Previous year
`
15.03 crores) arising consequently on contracts
that were designated and effective as hedges of future cash flows has been recognized directly in the
hedging reserve account. Actual gain or loss on exercise of these range forward contracts or any part
thereof is recognised in the Profit and Loss account. Hedge accounting will be discontinued if the hedging
instrument is sold, terminated or no longer qualifies for hedge accounting.
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