International Travel House

i.  Related Party Disclosure under Accounting Standard 18
 
 Parties where control exists
 
 Associate companies : ITC Limited and Russell Credit Limited.  Key
 Management Personnel:
 
 Board of Directors               Corporate Management Committee Members
 
 Mr.  S. S. H. Rehman (till 20/03/2009)  Mr. Atul Kumar (till 31/12/2008)
 Mr.   Nakul Anand                       Mr. Raghupati Wahi (w.e.f. 28/01/2009)
 Mr. Jehangir J. Ghadiali                Mr. Ghanshyam Arora
 Mr.  Anil Rajput                        Mr. Sidharth Roy (w.e.f. 02/06/2008)
 Mr.  H. P. Ranina
 Mr.  S. C. Sekhar
 Mr.   K. L. Thapar
 Mr.   O. P. Vaish
                                          Mr.   Anil Baijal (w.e.f. 28/01/2009)
 
 ii) Basis used to determine the Expected Rate of Return on Plan Assets
 
 The expected rate of return on plan assets is based on the current
 portfolio of assets, investment strategy and market scenario. In order
 to protect the capital and optimise returns within acceptable risk
 parameters, the plan assets are well diversified.
 
 iii) The impact on service cost, interest cost and projected benefit
 obligations due to one percent point increase or decrease of medical
 costs is Rs. Nil as the benefits are subject to monetary limits.
 
 iv) Contributions expected to be made in plans in the next year will be
 disclosed as soon as it can be reasonably determined.
 
 v.  Contingent liabilities not provided for:
 
 a.  Guarantee outstanding Rs. 1,00,00,0007- (Previous Year Rs.
 1,00,00,000/-).
 
 b.  Claim against the Company not acknowledged as debts Rs.9,93,406/-
 (Previous Year Rs.9,93,406/-) for which Company has initiated a legal
 suit in High Court of Delhi.
 
 c.  Income tax demand of Rs. 10,31,903/ for assessment year 2006-07 for
 which Company has gone to Commissioner of Income Tax (Appeal).
 
 vi. Sundry Debtors include an amount of Rs.46,70,033/- (Previous Year
 Rs.46,70,033/-) representing recoverable from certain customers on
 account of Value Added Tax. Management is confident that the same is
 recoverable either through the process of law or from the said
 customers.
 
 vii.  Capital commitments (net of capital advances) Rs.Nil (Previous
 Year Rs.6,75,370/-).
 
 viii. In terms of the requirements of the Micro, Small and Medium
 Enterprises Development Act, 2006, the Company has continuously asked
 for confirmations. Based on the information available with the Company
 there are no principle/ interest amounts due to micro and small
 enterprises.
 
 ix.  Segmental Reporting
 
 Business Segments
 
 The primary reporting of the Company has been performed on the basis of
 business segment. The Company has only one reportable business segment,
 which is Travel Related Services that includes Air Ticketing, Car
 Rentals, Inbound Tourism, Overseas and Domestic Holiday Packages,
 Conferences, Events and Exhibition Management and operates in a single
 business segment based on the nature of the products, the risks and
 returns, the organisation structure and the internal financial
 reporting systems. Accordingly, the figures appearing in these
 financial statements relate to the Companys single business segment.
 
 Geographical Segments
 
 Secondary segmental reporting is performed on the basis of the
 geographical location of customers. The operations of the Company are
 confined to India. Accordingly, the figures appearing in these
 financial statements relate to the Companys single geographical
 segment.
 
 x.  Previous years figures have been regrouped / re-arranged
 wherever necessary.