Infrastructure Development Finance Company

1 Fringe Benefit Tax is net of amount recovered from employees of Rs.
 46,912,247 (Previous Year Rs. Nil) on exercise of Employee Stock
 Options.
 
 2 Interest on Investments, Dividend on Investments and Profit on sale
 of Investments include Rs. 2,688,509,051 (Previous Year
 
 Rs. 761,821,508), Rs. Nil (Previous Year Rs. 7,354,540) and Rs.
 1,402,670,504 (Previous Year Rs. 552,529,700) respectively, in respect
 of Current Investments. Provision for diminution in value of
 Investments includes amortised premium of Rs. 340,294 (Previous Year:
 amortised discount of Rs. 6,641,419) on purchase of Long Term
 Investments.
 
 3 Dividend on Investments include Rs.400,000,000 (Previous Year Rs.
 942,579) from a Subsidiary Company. Tax on proposed dividend for the
 year 2008-09 is net of dividend distribution tax of Rs. 67,980,000
 (Previous Year Rs. Nil) paid by the Subsidiary Company under Section
 115-O of the Income-tax Act, 1961.
 
 4 Advances recoverable in cash or in kind include amount due from
 Subsidiaries Rs. 4,279,882 (Previous Year Rs. 47,039,670).
 
 5 Secured Loan comprises of borrowings under Collateralised Borrowing
 and Lending Obligation (CBLO) secured against Investments in Government
 of India Loans.
 
 6 Sundry Creditors includes amount due to a Director Rs. Nil (Previous
 Year Rs. 13,820) and due to a Subsidiary Rs. 16,913,771 (Previous Year
 Rs. 16,205,701).
 
 7 In respect of equity shares issued pursuant to the Employee Stock
 Option Schemes, the Company paid dividend of Rs. 1,101,645 for the year
 2007-08 and tax on dividend of Rs. 187,225 as approved by the
 shareholders at the Annual General Meeting held on July 18, 2008.
 
 8 Total number of electricity units generated and sold during the year
 - 26,522,388 KWH (Previous Year Nil).
 
 9 The Company’s main business is to provide finance for infrastructure
 projects including through ownership of infrastructure assets. All
 other activities revolve around the main business. The Company does not
 have any geographic segments. As such, there are no separate reportable
 segments as per Accounting Standard 17 on ‘Segment Reporting’ as
 notified by the Companies (Accounting Standards) Rules, 2006.
 
 10 No interest has been paid / payable by the Company during the year
 to the suppliers covered under the Micro, Small and Medium
 Enterprises Development Act, 2006. The above information takes into
 account only those suppliers who have responded to inquires made by the
 Company for this purpose.
 
 11 Contingent liabilities not provided for in respect of :
 
 PARTICULARS                             CURRENT YEAR    PREVIOUS YEAR
                                               RUPEES           RUPEES
 
 (a) Capital Commitments                8,292,400,000      643,070,000
 
 (b) Estimated amount of contracts
     remaining to be executed on           17,017,080      635,053,750
     capital account (net of advances)
 
 (c) Claims not acknowledged as debts 
 in respect of :
 
 Income-tax demands disputed by the 
 Company (net of amounts provided).
 The                                      382,308,444     380,065,424
 matters in dispute are under appeal.
 The demands have been paid / adjusted
 and will be received as refund if the 
 matters are decided in favour of the
 Company
                                     RUPEES (in crore) RUPEES (in crore)
 
 (d) Guarantees issued:
 
 As a part of project assistance, 
 the Company has also provided the
 following guarantees:
 
 1.  Financial Guarantees                 298.96          894.11
 
 2.  Performance Guarantees               19.50           286.53
 
 3.  Risk Participation Facility          72.00            65.11
 
 4.  Take Out Facility                      Nil            45.58
 
 12 The Company has entered into Interest Rate Swaps in the nature of
 fixed / floating or floating / fixed for notional principal of
 Rs. 1,860.00 crore outstanding as on March 31, 2009 (Previous Year Rs.
 2,460.00 crore) for varying maturities linked to various benchmarks for
 asset liability management and hedging.
 
 The Company has foreign currency borrowings of USD 51.79 crore
 (Previous Year USD 45.06 crore), against which the Company has
 undertaken cross currency interest rate swaps and forward contracts of
 USD 40.59 crore (Previous Year USD 31.49 crore) to hedge foreign
 currency risk.
 
 13 Expenditure on account of Salaries is after adjusting Rs.
 118,490,705 (Previous Year Rs. 37,710,441) recovered from Subsidiary
 Companies and a Jointly Controlled Entity.
 
 14 Miscellaneous expenses include Provision for Wealth Tax amounting to
 Rs. 1,225,000 (Previous Year Rs.1,500,000) and Securities Transaction
 Tax amounting to Rs. 2,736,277 (Previous Year Rs. 5,994,050).
 
 15 Special Reserve has been created in terms of Section 36(1)(viii) of
 the Income-tax Act, 1961 out of the distributable profits of the
 Company.
 
 16 No amount was due for transfer to the Investor Education and
 Protection Fund under Section 205C of the Companies Act, 1956 on March
 31, 2009.
 
 17 Previous year’s figures have been regrouped / rearranged wherever
 necessary to conform to the current year’s classification.