| 13. | Provision for Current Tax for the year 2008-2009 is net of
write back of Rs. 40,92,26,444 (2007-2008 - Rs. Nil) in respect of earlier years. |
|
| 14. | Miscellaneous expenses (Schedule 15) is net of Rs. 3,80,73,336 [2007-08 including Rs.1,88,65,463] being excise duty related to the difference between the closing stock and opening stock. | |
| 15. | A. | 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. |
| B. | 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 (j) for accounting policy relating to gratuity. Following are the further particulars with respect to gratuity : |
