24.2.21. Cash Flow statement

24.2.21.a Unclaimed dividend

The balance of cash and cash equivalents includes Rs. 2 crore as at March 31, 2010 (Rs. 2 crore as at March 31, 2009) set aside for payment of dividends.

24.2.21.b Balances held by controlled trusts

The balance of cash and cash equivalents includes Rs. 69 crore as at March 31, 2010 held by controlled trusts.

24.2.21.c Restricted cash

Deposits with financial institutions as at March 31, 2010 include Rs. 337 crore (Rs. 253 crore as at March 31, 2009) deposited with LIC of India to settle employee related obligations as and when they arise during the normal course of business. This amount is considered as restricted cash and is hence not considered ‘cash and cash equivalents’.

24.2.22. Exceptional item

During the year ended March 31, 2010 the Company sold 32,31,151 shares of OnMobile Systems Inc, USA (OMSI) at a price of Rs. 166.58 per share amounting to a total consideration of Rs. 53 crore, net of taxes and transaction costs. The resultant income of Rs. 48 crore has been appropriated to capital reserve.

24.3. Details of rounded off amounts

The financial statements are represented in Rupees Crore as per the approval received from Department of Company Affairs (DCA). Those items which were not represented in the financial statement due to rounding off to the nearest Rupees Crore are given as follows :

Balance Sheet items
in Rs. crore
Schedule Description
As at March 31,
    2010 2009
Balance Sheet    
3 Fixed assets    
  Deductions / retirements    
  Leasehold improvements – 0.04
  Vehicles 0.04 0.23
  Buildings 0.04 –
  Depreciation on assets sold during the period    
  Vehicles – 0.05
7 Cash on hand 0.09 0.07
  Scheduled banks – Current Accounts    
  Citibank – Unclaimed dividend account 0.49 0.58
  Citibank N.A. 2.29 0.12
  Citibank – EEFC account in U.S. dollar 0.22 –
  State Bank of India 0.04 0.01
  Deutsche Bank – EEFC account in Swiss Franc, India 0.33 3.35
  Deutsche Bank – EEFC account in United Kingdom Pound Sterling, India 0.51 0.33
  HDFC Bank – Unclaimed dividend account 0.84 0.46
  Non-scheduled banks – Current Account    
  ABN Amro Bank, Denmark 0.21 0.06
  Banamex, Mexico 2.00 0.02
  Bank of Baroda, Mauritius 0.02 0.06
  China Merchants Bank, China 0.62 0.17
  Citibank N.A., Czech Republic 0.35 0.29
  Citibank N.A., Czech Republic Euro account 0.13 3.34
  Citibank N.A., Poland – 0.01
  Deustche Bank, Moscow 0.34 –
  Deutsche Bank, Philiphines 0.39 0.56
  Deustche Bank, Poland 2.37 0.21
  Deustche Bank, Poland Euro account 0.74 0.12
  Deutsche Bank, Zurich, Switzerland 9.72 0.22
  ICICI Bank, U.K. 1.07 0.09
  Nordbanken, Sweden 0.73 0.11
  PNC Bank, USA 0.02 0.03
  Shanghai Pudong Development Bank, China – 0.01
  Standard Chartered Bank, UAE 0.09 –
  Svenska Handelsbanken, Sweden 0.01 –
  The Bank of Tokyo – Mitsubishi UFJ, Limited, Japan 0.16 0.59

 

Profit & Loss items
in Rs. crore
Schedule Description
Year ended March 31,
    2010 2009
Profit and Loss    
  Minority interest 0.06 0.02
  Residual dividend paid 0.25 –
  Additional dividend tax 0.04 –
12 Selling and marketing expenses    
  Office maintenance 0.31 0.40
  Consumables 0.07 0.17
  Software for own use – 0.04
  Insurance charges 0.31 0.33
  Advertisements 0.01 1.77
  Repairs to plant and machinery – 0.07
  Computer maintenance 0.02 –
  Rates and taxes 0.10 0.01
13 General and administrative expenses    
  Auditor's remuneration    
  Out-of-pocket expenses 0.04 0.04
  Certification charges 0.05 0.05
  Others 0.01 –
24.2.1 Aggregate expenses    
  Provision for doubtful loans and advances 0.01 1.49
  Auditor's remuneration    
  Certification charges 0.05 0.05
  Out-of-pocket expenses 0.04 0.04
  Others 0.01 –
24.2.10 Profit on disposal of fixed assets, included in miscellaneous income 2.00 0.38

 

Cash Flow statement items
in Rs. crore
Schedule Description Year ended March 31,
    2010 2009
  Profit / loss on sale of fixed assets 2.00 0.38

 

24.4. Transactions with key management personnel

Key management personnel comprise directors and members of the Executive Council.

Particulars of remuneration and other benefits paid to whole-time directors and members of Executive Council during the years ended March 31, 2010 and March 31, 2009 are as follows :

in Rs. crore
Name
 Salary Contributions to
provident and
other funds		 Perquisites and incentives Total
Remuneration
Co-Chairman
Nandan M. Nilekani(1)		 0.09 0.02 0.23 0.34
  0.30 0.07 0.54 0.91
Chief Executive Officer and Managing Director
S. Gopalakrishnan		 0.32 0.08 0.61 1.01
  0.30 0.07 0.55 0.92
Chief Operating Officer and Director
S. D. Shibulal		 0.31 0.08 0.56 0.95
  0.28 0.07 0.52 0.87
Whole-time directors
K. Dinesh 0.32 0.08 0.61 1.01
  0.30 0.07 0.54 0.91
T. V. Mohandas Pai 0.36 0.08 2.69 3.13
  0.36 0.09 2.14 2.59
Srinath Batni 0.36 0.07 1.98 2.41
  0.35 0.09 1.43 1.87
Chief Financial Officer
V. Balakrishnan		 0.30 0.08 2.06 2.44
  0.29 0.07 2.00 2.36
Executive council members
Ashok Vemuri 2.09 – 2.79 4.88
  1.99 – 2.05 4.04
Chandra Shekar Kakal 0.28 0.06 1.73 2.07
  0.26 0.06 1.26 1.58
B. G. Srinivas 1.81 – 2.75 4.56
  1.82 – 2.85 4.67
Subhash B. Dhar 0.24 0.07 1.42 1.73
  0.23 0.06 0.98 1.27
(1) Effective July 9, 2009, Nandan M. Nilekani has relinquished the positions of
Co-Chairman, Member of the Board and as an employee of the Company.


Particulars of remuneration and other benefits of non-executive / independent directors for the years ended March 31, 2010 and March 31, 2009 are as follows :

in Rs. crore
Name
 Commission Sitting fees Reimbursement
of expenses		 Total
Remuneration
Independent directors
Deepak M. Satwalekar 0.60 – – 0.60
  0.68 – 0.02 0.70
Prof. Marti G. Subrahmanyam 0.65 – 0.20 0.85
  0.71 – 0.25 0.96
Dr. Omkar Goswami 0.52 – 0.03 0.55
  0.58 – 0.03 0.61
Claude Smadja 0.59 – 0.25 0.84
  0.67 – 0.26 0.93
Rama Bijapurkar 0.49 – 0.02 0.51
  0.56 – 0.01 0.57
Sridar A. Iyengar 0.74 – 0.21 0.95
  0.82 – 0.20 1.02
David L. Boyles 0.59 – 0.15 0.74
  0.69 – 0.21 0.90
Prof. Jeffrey S. Lehman 0.61 – 0.24 0.85
  0.63 – 0.22 0.85
K. V. Kamath(1) 0.39 – 0.02 0.41
  – – – –
Non-executive director      
N. R. Narayana Murthy(2) 0.57 – – 0.57
  0.63 – – 0.63
(1) Joined the Board effective May 02, 2009
(2) Non-executive Chairman of the Board and Chief Mentor