Info Edge India

1.  The Company was converted to a public limited company and its name
 was changed to Info Edge (India) Limited with effect from April 27,
 2006.
 
 2.  As on March 31, 2009 there is an advance of Rs 82,942 Thousand
 (Previous Year 63,397 Thousand) outstanding against capital account
 contracts. This primarily includes the following:
 
 (i) Rs. 62,286 Thousand (Previous year Rs. 60,780 Thousand) relating to
 the project for construction of office building on owned land which
 remains outstanding as the project has currently been deferred in view
 of recent economic developments. The management expects to resume this
 project in the near future (appropriate permissions for extending the
 time limit for construction have been taken from the local development
 authority).
 
 (ii) Rs. 18,926 Thousand (Previous year NIL) relating to ERP
 implementation project with an estimated value of contract of Rs.
 25,000 Thousand (gross) remaining to be executed on capital account.
 
 (iii) Rs. 1,730 Thousand (Previous year 2,617 Thousand) advanced
 against multiple contracts with total estimated value of contracts of
 Rs. 2,658 Thousand (gross) (Previous year 3,000 Thousand) remaining to
 be executed on capital account.
 
 3.  Based on information available with the Company, there are no dues
 to micro, small and medium enterprises, as defined in Micro, Small and
 Medium Enterprises Development Act, 2006 as on March 31, 2009.
 
 4.  Operating Leases where the company is a lessee:
 
 The company has entered into lease transactions mainly for leasing of
 office premises for periods between 1 to 9 years. The terms of lease
 include terms of renewal, increase in rents in future periods and terms
 of cancellation. The operating lease payments recognized in the Profit
 & Loss Account amount to Rs 111,329 Thousand (included in Schedule 13 –
 Administration and Other Expenses Rs.  108,821 Thousand and in Schedule
 14 – Personnel Expenses Rs 2,508 Thousand [(Previous Year Rs. 69,279
 Thousand) (included in Schedule 13 – Administration and Other Expenses
 Rs. 68,599 Thousand and in Schedule 14 – Personnel Expenses Rs 680
 Thousand)].
 
 5.  The Company is not engaged in either manufacturing or trading of
 goods. Accordingly disclosures relating to Quantitative information as
 required under Part II of Schedule VI to the Act, with regard to
 finished goods / raw materials and components consumed are not
 applicable.
 
 6.  (1) Related Party Disclosures
 
 A) Names of related parties with whom transactions were carried out and
 description of relationship as identified and certified by the Company
 as per the requirements of Accounting Standard – 18 specified in
 Companies (Accounting Standard) Rules, 2006 and where control exists
 for the year ended March 31, 2009:
 
 Subsidiaries
 
 Jeevansathi Internet Services Private Limited ( JISPL) 
 Naukri Internet Services Private Limited (NISPL) 
 Info Edge (India) Mauritius Limited (IEIML) 
 Allcheckdeals India Pvt. Ltd. (ACDIPL)
 Info Edge USA Inc.
 
 Associates
 eTechAces Marketing & Consulting Pvt.Ldt(EMCPL)
 Applect Learning System Pvt. Ltd (ALSPL)
 
 Key Manegment Personnel (KMP) &Relatives
 Mr. sajeev Bikhchandani
 Mr.Surabi Bikhchandani (Spouse of Mr. Sajeev Bikhchandani)
 Mr.Sushil Bikchndani (Brother of Mr. Sajeev Bikhchandani)
 Mr. Hitesh Oberoi
 Mr. Rimy Oberoi (Spouse of Mr. Hitesh Oberoi)
 Mr. Ambarish Raguvanshi
 
 Enterprises over which KMP & Relative Have significant influence
 Mink Enterprises (Propritoship concern of Mr. Sushi Bikhchandini)
 Oyster Leaning (Proprietorship concern ofMs. Rimy Oberoi)
 
 Indipendent Directors - Non Exucutive
 Mr. Arun Duggal
 Mr. Ashish Gupta
 Ms. Bala Deshpande
 Mr.saurabh Srivastava
 
 Non Exucutive Directors 
 Mr. sandeep Murthy
 Mr. Kapil Kapoor
 
 7.  (2) Related Party Transactions for the year ended March 31, 2008
 
 A) Names of related parties with whom transactions were carried out and
 description of relationship as identified and certified by the Company
 as per the requirements of Accounting Standard – 18 specified in
 Companies (Accounting Standard) Rules, 2006 and where control exists
 for the year ended March 31, 2008:
 
 Subsidiaries
 
 Jeevansathi Internet Services Private Limited ( JISPL) Naukri Internet
 Services Private Limited( NISPL) Info Edge (India) Mauritius Limited
 (IEIML)
 
 Key Management Personnel (KMP) & Relatives
 
 Mr. Sanjeev Bikhchandani
 Ms. Surabhi Bikhchandani (Spouse of Mr. Sanjeev Bikhchandani)
 Mr. Sushil Bikhchandani (Brother of Mr. Sanjeev Bikhchandani)
 Mr. Hitesh Oberoi
 Ms. Rimy Oberoi (Spouse of Mr. Hitesh Oberoi)
 Mr. Ambarish Raghuvanshi
 
 Enterprises over which KMP & Relatives have significant influence
 
 Minik Enterprises (Proprietorship concern of Mr. Sushil Bikhchandani)
 Oyster Learning ( Proprietorship concern of Ms. Rimy Oberoi)
 
 Independent Directors- Non Executive
 
 Mr. Arun Duggal Mr. Ashish Gupta Ms.Bala Deshpande Mr. Naresh Gupta Mr.
 Saurabh Srivastava
 
 Non-Executive Directors
 
 Mr. Sandeep Murthy Mr. Kapil Kapoor
 
 1. Amounts paid to / on behalf of Info Edge Employee Stock Option Trust
 during the year are as below:
 
 (a) Dividend paid Rs. 479 Thousand
 
 (b) Amount adjusted against advance due from the trust Rs. 2,957
 Thousand
 
 2. Amount due from Info Edge Employee Stock Option Trust as on March
 31, 2008 is Rs. 13,335 Thousand.
 
 8.  Employee Stock Option Scheme 2007
 
 The company has set up a trust to administer the ESOP scheme under
 which options have been granted to employees. Under this scheme the
 employees can purchase equity shares by exercising the options as
 vested at the price specified in the grant. The options granted till
 March 31st 2009 have a vesting period of maximum of 4.5 years from the
 date of grant.
 
 9.  (A) In respect of options vested during the year, had the fair
 value method been used, the profit for the year would be lower by Rs
 108,038 Thousand (Previous year 73,265 Thousand) and the EPS would be
 Rs 17.91 (Previous year 17.64).
 
 Since the stock was listed in November 2006, the historical stock data
 for computing the volatility over the expected life of options is not
 sufficient, therefore the historical volatility of similar companies
 has been considered.
 
 10.  The Company has received legal notices of claims/lawsuits filed
 against it relating to infringement of Intellectual Property Rights
 (IPR) in relation to the business activities carried on by it. In the
 opinion of the management, no material liability is likely to arise on
 account of such claims/law suits.
 
 11.  The company is primarily in the business of internet based service
 delivery. The other activities of the company comprise placement search
 services and real estate broking services. The segment revenues,
 results and assets of the other activities do not constitute reportable
 segment under Accounting Standard 17 on Segment Reporting and
 accordingly no disclosure is required.
 
 12.  Previous year’s figures have been regrouped / recast to confirm to
 current year’s presentation.