15.	A.	Effective 1st April, 2007, employee benefit obligations have been measured / valued following the Accounting Standard 15 on 'Employee Benefits' (AS) vis-a-vis erstwhile Accounting Standard 15 on 'Accounting for Retirement Benefits in the Financial Statements of Employers' hitherto followed. Pursuant to adoption of the AS, an amount of Rs.2,33,73,155 arising upon remeasurement of certain employee benefit obligation as on 1st April, 2007 has been recognised with corresponding credit to General Reserve in keeping with the transitional provisions of the AS and the related deferred tax of Rs.79,44,535 has been adjusted against Securities Premium in keeping with the approved accounting treatment referred to in Note 1 (i) above. Further, as a result of this change employee benefit obligation is lower by Rs. 92,51,769 with corresponding favourable impact on the profit for the year.
	B.	In keeping with the Guidance on implementing Accounting Standard (AS) 15 on Employee Benefits issued by the Accounting Standards Board of the Institute of Chartered Accountants of India (ASB Guidance), employer- established provident fund trusts are treated as Defined Benefit Plans since the Company is obligated to meet interest shortfall, if any, with respect to covered employees. According to the management, in consultation with Actuary, actuarial valuation cannot be applied to reliably measure provident fund liabilities in absence of guidance from Actuarial Society of India. Accordingly, the Company is currently not in a position to provide other related disclosures as required by the aforesaid AS 15 read with the ASB Guidance, however, having regard to the position of the Fund (for covered employees) and confirmation from the Trustees' of such Fund there is no shortfall as at the year end.
	C.	In keeping with the Company's gratuity scheme (a defined benefit plan), eligible employees are entitled to gratuity benefit (at one half months eligible salary for each completed year of service) on retirement / death / incapacitation / termination. Also refer Note 1 (i) for accounting policy relating to gratuity. Following are the further particulars with respect to gratuity for the year ended 31st March, 2008 :
	I.	Reconciliation of opening and closing balances of the present value of the Defined Benefit Obligation		Rs.
		a.	Present Value of Obligation at the beginning of the year	40,47,57,613
		b.	Current Service Cost	2,96,67,743
		c.	Interest Cost	3,11,97,324
		d.	Actuarial (Gain) / Loss	3,40,10,380
		e.	(Benefits Paid)	(2,95,82,136)
		f.	Present Value of Obligation at the end of the year	47,00,50,924
	II.	Reconciliation of opening and closing balances of the fair value of Plan Assets
		a.	Fair Value of Plan Assets at the beginning of the year	35,68,97,684
		b.	Expected Return on Plan Assets	2,85,51,815
		c.	Actuarial Gain / (Loss)	11,25,361
		d.	Contributions by employer	7,12,33,084
		e.	(Benefits Paid)	(2,95,82,136)
		f.	Fair Value of Plan Assets at the end of the year	42,82,25,808
	III.	Reconciliation of the present value of Defined Benefit Obligation in 'I' above and the fair value of Plan Assets in 'II' above
		a.	Present Value of Obligation as at the end of the year	47,00,50,924
		b.	Fair Value of Plan Assets at the end of the year	42,82,25,808
		c.	(Asset) / Liability recognised in the Balance Sheet	4,18,25,116