The details of the related party transactions entered into by the Company and maximum dues from subsidiaries for the period ended March 31, 2011 and March 31, 2010 are as follows :
in
Particulars |
As at |
|
March 31, 2011 |
March 31, 2010 |
|
Revenue transactions : |
||
Sale of services |
||
Infosys Brasil |
(6,06,646) |
– |
Infosys BPO Limited |
– |
53,08,772 |
Infosys Technologies Limited |
84,85,041 |
3,00,176 |
Sale of shared services including facilities and personnel |
||
Infosys Technologies Limited |
7,29,776 |
95 |
Infosys BPO Limited |
– |
44,83,678 |
Purchase of shared services including facilities and personnel |
||
Infosys Technologies Limited |
39,44,004 |
97,127 |
Infosys BPO Limited |
7,39,431 |
14.2.4. Cash and bank balances
The details of balances as on Balance Sheet dates with non-scheduled banks are as follows :
in
Balances with non-scheduled banks |
As at |
|
March 31, 2011 |
March 31, 2010 |
|
Cash balance |
2,79,952 |
5,13,821 |
2,79,952 |
5,13,821 |
|
In current accounts |
||
Deutsche Bank, PLN |
1,18,20,597 |
2,34,40,967 |
Deutsche Bank, PLN ES Fund |
3,40,542 |
2,28,729 |
Deutsche Bank, Euro |
1,64,24,962 |
73,79,595 |
2,85,86,101 |
3,10,49,291 |
|
In deposit accounts |
||
Deutsche Bank, Poland |
21,00,20,597 |
7,81,50,000 |
21,00,20,597 |
7,81,50,000 |
|
Total cash and bank balances as per Balance Sheet |
23,88,86,650 |
10,97,13,112 |
The details of maximum balances during the period with non-scheduled banks are as follows :
in
Maximum balance with non-scheduled banks during the period |
Year ended |
|
March 31, 2011 |
March 31, 2010 |
|
In current accounts |
||
Deutsche Bank, Poland |
10,11,67,633 |
7,97,36,353 |
Deutsche Bank, Poland (Employee Social Fund) |
74,29,001 |
80,95,347 |
Deutsche Bank, Poland (Euro account) |
10,90,39,709 |
19,05,07,067 |
14.2.5. Provision for SLA Compliance
The provision for service level agreement compliance is based on estimates made by the management for on going contracts. In accordance with paragraphs 66 and 67 of the Accounting Standard 29, the movement in provision for service level agreement is given below.
in
As at March |
||
2011 |
2010 |
|
Balance at the beginning of the period |
1,02,32,501 |
63,32,706 |
Additional provisions made during the period |
47,84,926 |
99,39,203 |
Provisions used during the period |
– |
– |
Unused amounts reversed during the period |
28,55,463 |
60,39,408 |
Balance at the end of the period |
1,21,61,964 |
1,02,32,501 |
Management believes that the aforesaid provision will be utilized within a year.
14.2.6. Capital commitments and contingencies
in
Year ended |
||
March 31, 2011 |
March 31, 2010 |
|
Estimated amount of unexecuted capital contracts (net of advance and deposits) |
1,22,23,031 |
|
Forward contracts outstanding |
||
EUR / PLN |
EUR 80,00,000 |
EUR 55,00,000 |
(Equivalent approximate in ) |
(50,70,40,000) |
(33,24,75,000) |