Reliance Capital

1.  Previous years figures have been reworked, regrouped and
 reclassified wherever necessary.
 
 2.  Miscellaneous expenses referred to in Schedule L include net
 prior period items Rs.0.46 crore (net credit) (Previous Year Rs.2.45
 crore (net debit).
 
 3.  As per deeds of assignment with the subsidiary companies, loans
 aggregating to Rs.97.78 crore (Previous Year Rs.Nil) have been assigned
 to Reliance Consumer Finance Pvt. Ltd. for a consideration of Rs.100.01
 crore and loans aggregating to Rs.99.42 crore (Previous Year Rs.Nil)
 have been assigned to Reliance Home Finance Pvt. Ltd. for a
 consideration of Rs.100 crore.
 
 4.  In the case of loans acquired by the Company, in accordance with
 the requirements of RBI circular: DBOD.NO.BP.BC.16/ 21.04.048/2005-06
 dated July 13, 2005 the Company has classified such loans as standard
 assets. None of these accounts were restructured during the year and
 the aggregate outstanding as at March 31, 2009 was Rs.7.89 crore
 (Previous year Rs.11.61 crore.).
 
 5.  Micro, small and medium enterprises:
 
 The management has identified enterprises which have provided goods and
 services to the Company and which qualify under the definition of
 medium and small enterprises, as defined under Micro, Small and Medium
 Enterprises Development Act, 2006. There have been no reporting cases
 of delays in payments to micro and small enterprises or of interest
 payments due to delays in such payments.
 
 6.        The Company is a partner in the following firms
 
 i) Reliance Capital Partners
 
 a) The firm consists of following partners
 
 i) Reliance Capital Ltd.
 
 ii) Reliance Land Pvt. Ltd.
 
 iii) Shri Surendra Pipara
 
 b) Profit sharing ratio
 
 The profit is distributed between the partners on the basis of the
 weighted average capital.
 
 The profit/ (loss) of Rs.(4.40) crore of Reliance Capital Partners is
 considered as Loss of the current financial year (Previous Year profit
 of Rs 32.47 crore).
 
 ii) Reliance Capital Infrastructure Partners
 
 a) The firm consists of following partners
 
 i) Reliance Capital Ltd.
 
 ii) Reliance Infocomm Infrastructure Pvt. Ltd.
 
 iii) Reliance Infraprojects Ltd. (Formerly known Reliance AWorld Ltd.)
 
 b) Profit sharing ratio
 
 The profit is distributed between the partners on the basis of the
 weighted average capital.
 
 The firm has not commenced operations during the year ended March 31,
 2009 and there has been no contribution of capital upto March 31, 2009.
 
 (b) Commission to Non-Executive Directors
 
 (included under the head Payments to and provisions for employees)
 
 The Company has taken the approval of the Central Government u/s 309(4)
 of the Companies Act, 1956 for payment of Commission to Non Executive
 Directors upto 3% of the net profits calculated in accordance with the
 provisions of section 198, 349 and 350 of the Companies Act, 1956 for a
 period of five years commencing April 1, 2006.
 
 7.  Employee benefits
 
 a) Defined contribution Plans
 
 Amount of Rs 5.10 crore (Previous Year : Rs.4.19 crore) is recognised
 as expense and included in Employee Costs referred to in Schedule L
 in the Profit and Loss Account.
 
 b) Defined Benefit Plans
 
 The following tables summarise the components of the net employee
 benefit expenses recognised in the Profit and Loss Account, the fund
 status and amount recognised in the balance sheet for the gratuity
 benefit plan and leave encashment plan.
 
 8.  Segment reporting
 
 As per paragraph 4 of Accounting Standard (AS-17), on Segment
 Reporting notified by the Companies (Accounting Standard) Rules 2006,
 where a single financial report contains both consolidated financial
 statements and the separate financial statements of the holding
 company, segment reporting needs to be presented only on the basis of
 consolidated financial statements. In view of this, segment information
 has been presented at Note No. 12 of Schedule O of the attached
 consolidated financial statements.
 
 9.  Related Party Disclosures:
 
 List of related parties
 
 i) Promoters
 
 AAA Enterprises Pvt. Ltd. (Holding Company)
 
 Reliance Innoventures Pvt. Ltd. (Ultimate Parent Company)
 
 Shri Anil D. Ambani
 
 Smt. Tina A. Ambani
 
 Smt. Kokilaben D. Ambani
 
 Master Jai Anmol A. Ambani
 
 Master Jai Anshul A. Ambani
 
 Hansdhwani Trading Company Pvt. Ltd.
 
 ii) Subsidiaries
 
 Reliance Capital Asset Management Ltd.
 
 Reliance Capital Trustee Co. Ltd.
 
 Reliance General Insurance Company Ltd.
 
 Reliance Gilts Ltd.
 
 Reliance Capital Research Pvt. Ltd.
 
 Reliance Money Express Ltd.
 
 Medybiz Pvt. Ltd.
 
 Net Logistics Pvt. Ltd.
 
 Reliance Technology Ventures Pvt. Ltd.
 
 Reliance Capital Markets Pvt. Ltd.
 
 Reliance Asset Management (Mauritius) Ltd.
 
 Reliance Asset Management (Singapore) Pte. Ltd.
 
 Reliance Capital Asset Management (UK) Plc
 
 Reliance Equity Advisors (India) Ltd. (formerly Reliance Venture Asset
 Management Pvt. Ltd.)
 
 Reliance Consultants (Mauritius) Ltd. (w.e.f. April 2, 2008)
 
 Reliance Equities International Pvt. Ltd. (w.e.f. May 17, 2008)
 
 Reliance Home Finance Pvt. Ltd. (w.e.f. June 26, 2008)
 
 Reliance Capital Services Pvt. Ltd. (w.e.f. July 15, 2008)
 
 Reliance Capital (Singapore) Pte Ltd. (w.e.f. August 7, 2008)
 
 Reliance Consumer Finance Pvt. Ltd. (w.e.f. August 14, 2008)
 
 Reliance Securities Ltd. (w.e.f. August 28, 2008)
 
 Reliance Commodities Ltd. (w.e.f. August 28, 2008)
 
 Reliance Financial Ltd. (w.e.f. August 28, 2008)
 
 Reliance Alternative Investments Services Pvt. Ltd. (w.e.f. September
 27, 2008)
 
 Reliance Prime International Ltd. (w.e.f. August 28, 2008)
 
 Reliance Capital Pension Fund Ltd. (w.e.f. March 31, 2009)
 
 Reliance Money Infrastructure Ltd. (w.e.f. August 28, 2008 to March 14,
 2009)
 
 Partnership firm
 
 Reliance Capital Partners
 
 Reliance Capital Infrastructure Partners
 
 iii) Associates
 
 Reliance Land Pvt. Ltd.
 
 Reliance Share & Stock Brokers Pvt. Ltd.
 
 Ammolite Holdings Ltd.
 
 Reliance Asset Reconstruction Company Ltd.
 
 Wall Street Finance Ltd. (w.e.f. May 31, 2008) (Associate of Reliance
 Money Express Ltd., a subsidiary of the company)
 
 iv) Fellow Subsidiaries
 
 Reliance Communications Ltd.
 
 Reliance Communications Infrastructure Ltd.
 
 Reliance Telecom Ltd.
 
 Matrix Innovations Ltd.
 
 Reliance Natural Resources Ltd.
 
 Reliance WiMax Ltd. (Formerly known as Gateway Systems (India) Ltd.)
 
 Reliance Webstores Ltd.
 
 Reliance Infocomm Infrastructure Pvt. Ltd.
 
 v) Key Management Personnel
 
 Shri V. R. Mohan - Company Secretary & Manager
 
 10.  During the year, the Company has entered into a joint venture with
 KGS Developers Ltd. in respect of certain projects. The Company has
 invested Rs.85 crore and is entitled to share the Profit / Loss
 equally.
 
 11.  Contingent Liabilities and Commitments (As Certified by the
 Management)
 
 (Rs. in crore)
                                             As at               As at
                                    March 31, 2009      March 31, 2008
 
 Contingent Liabilities
 
 i) Guarantees to Banks and 
 Financial Institutions                     366.43               30.62
 on behalf of Subsidiaries and Associates.
 
 ii) Claims against the Company 
 not acknowledged as debt                     0.09                6.56
 (Sales Tax)
 Commitments
 
 iii) Estimated amount of contracts 
 remaining to be executed
 on capital account (net of advances)        23.09                1.37
 
 iv) Uncalled amount on Investment          265.17              516.23