| NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2009 | ||
| 1. | Significant Accounting Policies | |
| b. | Fixed Assets and Depreciation | |
| vi. | Leasehold land is amortised over the lease period. | |
| vii. | Certain indirect project expenditure included under fixed assets amortised over a period of five years. | |
| viii. | Depreciation on fixed assets acquired up to 31st March, 1993 other than items covered in (b)(iv) to (b)(vii) above is calculated under straight line method at the rates considered adequate to amortise the depreciable book value over the remaining part (as at 1st April, 1993) of the specified period recomputed by applying the Schedule XIV rates as revised during 1993-94 in keeping with the Circular No. 14/93 dated 20th December, 1993 of the Department of Company Affairs, Government of India. | |
| ix. | Depreciation on additions to fixed assets from 1st April, 1993 [except for deferral of annual depreciation charge for three years from 1999-2000 to 2001-2002 on certain fixed assets of Cement Units as indicated in (b)(x) below], fixed assets of Hindusthan Heavy Chemical Unit, Assam Cotton Mills Unit and those pertaining to Malkapur Extraction Divisions of Bharat General Unit [referred to in (b)(v) above], is calculated under straight line method at applicable rates as per Schedule XIV to the Companies Act, 1956 as amended during 1993-94. | |
| x. | Pursuant to Central Government's approval under Section 205(2)(c) of the Act, depreciation not provided in 1999-2000, 2000-2001 and 2001-2002 accounts on certain fixed asset items of Cement Units are amortised over the remaining part of specified period (as at 1st April, 2000, 1st April, 2001 and 1st April, 2002 respectively) based on the prescribed rates. | |
