Schedules to the financial statements for the year ended March 31, 2011
9.2. Notes on accounts
9.2.1. Aggregate expenses
The aggregate amounts incurred on expenses are as follows :
in 
Particulars |
Period ended March 31, |
|
2011 |
2010 |
|
Salaries and bonus including overseas staff expenses |
24,67,097 |
– |
Overseas travel expenses |
88,482 |
– |
Staff welfare |
7239 |
– |
Professional charges |
76,35,292 |
12,30,146 |
Telephone charges |
10,436 |
– |
Bank charges and commission |
1,10,148 |
1,39,081 |
Rates and taxes |
2,62,913 |
– |
Commission to non-whole-time directors |
44,99,000 |
– |
1,50,80,607 |
13,69,228 |
|
9.2.2. Activity in foreign currency
in
Particulars |
Year ended March 31, |
|
2011 |
2010 |
|
Earnings in foreign currency (receipt basis) |
||
Income from software services and products |
||
Interest received from banks and others |
9,08,454 |
67,957 |
Expenditure in foreign currency (on payment basis) |
||
Overseas travel expenses (including visa charges) |
11,945 |
|
Professional charges |
16,32,731 |
12,30,147 |
Technical sub-contractors-subsidiaries |
||
Overseas salaries and incentives |
14,08,742 |
|
Other expenditure incurred overseas for software development |
1,15,604 |
1,39,081 |
31,69,022 |
13,69,228 |
|
Net Earnings in foreign currency |
(22,60,568) |
(13,01,271) |
9.2.3. Quantitative details
The Company is primarily engaged in the development and maintenance of computer software. The production and sale of such software cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of part II of Schedule VI to the Companies Act, 1956.
9.2.4. Related party transactions
List of related parties :
Name of related parties |
Country |
Year ended March 31, |
|
2011 |
2010 |
||
Infosys Technologies Limited |
India |
100.00% |
100.00% |
The details of the related party transactions entered into by the Company and maximum dues from related parties for the year ended March 31, 2011 is as follows :
in
Particulars |
Period ended March 31, |
|
2011 |
2010 |
|
Capital transactions : |
||
Financing transactions |
||
Infosys Technologies Limited |
23,48,50,000 |
23,48,50,000 |
Revenue transactions : |
||
Sale of services |
– |
– |
Infosys Technologies Limited |
– |
– |
9.2.5. 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 bank |
Year ended March 31, |
|
2011 |
2010 |
|
In current accounts, Bank of America |
1,86,26,543 |
22,32,14,968 |
In deposit accounts, Bank of America |
20,07,00,000 |
– |
Total cash and bank balances as per Balance Sheet |
21,93,26,543 |
22,32,14,968 |
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 |
Period ended March 31, |
|
2011 |
2010 |
|
Bank of America, U.S. |
22,58,17,871 |
23,33,50,000 |