Asian Paints

(Rs. in Crores)
 
                                                 2008-2009  2007-2008
 
 1.  Estimated amount of contracts remaining
     to be executed on capital account and not
     provided for.                                 180.58      75.09
 
 2.  Letters of Credit and Bank guarantees 
     issued by bankers and outstanding as on
     31st March, 2009.                              54.24      35.25
 
 3.  Contingent liabilities:
 
 (a) Guarantee given on behalf of Companys 
     dealers in respect of loans
     granted to them by a bank for acquiring 
     dealer tinting systems.                        21.43      34.72
 
 (b) Corporate guarantees issued by the Company 
     to certain banks on behalf of some
     of its subsidiaries.                          102.99      75.16
 
 (c) The Company has issued letters of 
     comfort/support to banks on behalf of some
     of its subsidiaries from time to time and 
     the financial support/comfort based on
     such letters is limited to:                   125.14     115.69
 
 The Company has also issued a letter to the board of a subsidiary
 informing its commitment to continue extending corporate guarantees and
 letters of comfort for banking facilities as included in the above for
 a period upto 31st December, 2009.
 
 (d) Claims against the Company not acknowledged as debts:
 
 i.  Tax matters in dispute under appeal           47.69      33.72
 
 ii.  Others                                        4.18       3.36
 
 4. There are no Micro and Small Enterprises, to whom the Company owes
 dues, which are outstanding for more than 45 days as at 31st March,
 2009. This information as required to be disclosed under the Micro,
 Small and Medium Enterprises Development Act, 2006 has been determined
 to the extent such parties have been identified on the basis of
 information available with the Company.
 
 5.  Profit on sale of assets includes Rs. 6.77 crores (Previous year
 Rs. 0.11 crore) arising out of sale of colour world machines on expiry
 of lease.
 
 6.  A provision of Rs. 5.90 Crores towards diminution in the value of
 the Companys long term investment in its subsidiary Asian Paints
 (Bangladesh) Ltd. made through its wholly owned subsidiary Asian Paints
 (International) Ltd. is recognized in the Profit and Loss account as an
 exceptional item based on the managements assessment of the fair value
 of its investment. Deferred tax asset on the above provision is not
 recognized.
 
 7. Previous years figures have been regrouped, wherever necessary.