121 / 172
119
(
`
cr)
Note 28.10 Loans and advances in the nature of loans
Disclosures pursuant to the Regulation 34(3) read with Para A of Schedule V to the SEBI (Listing
obligations and disclosure requirements) Regulations, 2015 read with Section 186 (4) of the Companies
Act, 2013.
Particulars
Purpose
Amount outstanding as at
Maximum balance
during the year
March 31,
2016
March 31,
2015
2015-16 2014-15
i) Subsidiary company:
Atul Finserv Ltd
–
–
–
4.12
Atul Bioscence Ltd
Seed funding support as
promoters
4.30
4.30
4.30
4.30
ii) Associate company:
Amal Ltd
Interest free loan,
pursuant to 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
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:
Gratuity: The Company operates a gratuity plan through the ‘Atul Employees Gratuity Trust’. Every employee
is entitled to a benefit equivalent to fifteen days salary last drawn for each completed year of service in line
with the Payment of Gratuity Act, 1972 or Company scheme whichever is beneficial. The same is payable at
the time of separation from the Company or retirement, whichever is earlier. The benefits vest after five years
of continuous service.
Expenses recognised for the year ended on March 31, 2016 (included in Note 25)
(
`
cr)
Particulars
2015-16
2014-15
Gratuity
Gratuity
1 Change in present value of obligation:
a) Present value of obligation at beginning of the year
44.44
41.79
b) Current service cost
2.10
2.27
c) Interest cost
3.55
3.88
d) Actuarial loss | (gain)
2.27
2.13
e) Benefits paid
(5.09)
(5.63)
f) Present value of obligation at the end of the year
47.27
44.44
2 Change in fair value of plan assets:
a) Fair value of plan assets at beginning of the year
44.44
41.79
b) Expected return on plan assets
3.55
3.63
c) Actuarial loss | (gain)
(0.79)
1.90
d) Contributions
5.16
2.75
e) Benefits paid
(5.09)
(5.63)
f) Fair value of plan assets at end of the year
47.27
44.44
Notes
to the Financial Statements