FUTURE IDFC Notes to Accounts

1. REMITTANCE IN FOREIGN Currencies FOR DIVIDENDS


The Company has not remitted any amount in foreign currencies on account of dividends paid during the year and does not have information as to the extent to which remittances, if any, in foreign currencies on account of dividends have been made by / on behalf of non-resident Shareholders. The particulars of dividends paid to non-resident Shareholders, are as under:


The estimate of future salary increase, considered in the actuarial valuation takes account of inflation, seniority, promotion and other relevant factors.


Note:


(a) From the effective date of demerger, all employees of the Transferor Company pertaining to the Financing Undertaking and who were in the employment of the Transferor Company were transferred to the Transferee Company. Consequently the corresponding gratuity liability and plan assets had been transferred to the Transferee Company based on actuarial valuation.


2 The Company is operating as NBFC - Investment Company. The Company does not have any geographic segments. As such, there are no separate reportable segments as per Accounting Standards 17 on ''''Segment Reporting'''' specified under Section 133 of the 2013 Act.


3 As per Accounting Standard 18 on ''''Related Party Disclosures'''' as notified under the Accounting Standards specified under section 133 of the 2013 Act, the related parties of the Company are as follows:


I. Subsidiaries:


(a) Direct


IDFC Foundation


IDFC Financial Holding Company Limited IDFC Projects Limited


(b) Through subsidiaries


IDFC Alternatives Limited IDFC Asset Management Company Limited IDFC AMC Trustee Company Limited IDFC Bank Limited


IDFC Infrastructure Finance Limited (Formerly known as IDFC Infra Debt Fund Limited)


IDFC Securities Limited IDFC Trustee Company Limited IDFC Capital (USA) Inc.


IDFC Capital (Singapore) Pte. Ltd.


IDFC Investment Managers (Mauritius) Limited IDFC Securities Singapore Pte. Limited IDFC Finance Limited (up to March 31, 2016)


IDFC Bharat Limited (Formerly known as Grama Vidiyal Micro Finance Limited) (w.e.f October 13, 2016)


II. JOINTLY CONTROLLED ENTITIES:


(a) Through subsidiaries


Delhi Integrated Multi-Modal Transit System Limited Infrastructure Development Corporation (Karnataka) Limited Uttarakhand Infrastructure Development Company Limited (under liquidation) Rail Infrastructure Development Company (Karnataka) Limited


III. ASSOCIATES:


(a) Through subsidiaries


Jetpur Somnath Tollways Private Limited Feedback Infra Private Limited Millennium City Expressway Private Limited


IV. KEY MANAGEMENT personnel:


(a) Mr. Vikram Limaye - Managing Director & CEO


(b) Mr. Rajiv B. Lall - Executive Chairperson (up to September 30, 2015)


iii. The basic earnings per share has been computed by dividing the net profit / (loss) after tax for the year available for equity


Shareholders by the weighted average number of equity shares for the respective years, whereas the diluted earnings per share has been computed by dividing the net profit / (loss) after tax for the year available for equity Shareholders by the weighted average number of equity shares, after giving dilutive effect of the outstanding stock options for the respective years. The relevant details as described above are as follows: [see note 3(k)]


Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management. This has been relied upon by the auditors.


4 proposed DIVIDEND


The Board of Directors, in the meeting held on April 28, 2017 have proposed dividend of '''' 0.25 per equity share (2.50%) amounting to '''' 39.90 crore, inclusive of corporate dividend tax. The proposal is subject to the approval of Shareholders at the Annual General Meeting. In terms of revised Accounting Standard (AS) 4 ''''Contingencies and Events occurring after the Balance Sheet date'''' as notified by the Ministry of Corporate Affairs through amendments to Companies (Accounting Standards) Amendment Rules, 2016, dated March 30, 2016, proposed dividend is not recognized as a liability as on March 31, 2017. Accordingly, the balance of Reserves and surplus is higher by Rs, 39.90 crore (including corporate dividend tax) and the balance of other liabilities is lower by an equivalent amount as on March 31, 2017.


(b) Draw Down from Reserves


During the previous year, debenture redemption reserve was not created as long term infrastructure bonds have been transferred to IDFC Bank Limited upon demerger of Financing undertaking and as provided in the Scheme of Arrangement entire Debenture Redemption Reserve amount has been transferred to General Reserve. [see note 5(c)]


During the previous year in accordance with the RBI approval, an amount equivalent to Rs, 1,634.80 crore is transferred from the non distributable Statutory Reserve to the balance of the Surplus in Statement of Profit and Loss in Reserves & surplus. [see note 5(e) & 25]


5 Considering the nature of the business of the entity and transactions entered during the year ended March 31, 2017 and March 31, 2016 following disclosures required as per NBFC circular DNBR (PD) CC.No.008/03.10.119/2016-17 are not applicable to the Company and hence are not disclosed:


(i) Disclosures regarding Derivatives.


(ii) Disclosures relating to Securitization.


(iii) Exposure to Real Estate Sector


(iv) Details of financing of parent company products.


(v) Detail of Single Borrower Limit (SGL) / Group Borrower Limit (GBL) exceeded by the NBFC.


(vi) Unsecured Advances.


(vii) Concentration of Deposits, Advances, Exposures and NPAs.


(viii) Sector-wise NPAs.


(ix) Overseas Assets (for those with Joint Ventures and Subsidiaries abroad).


(x) Off-balance sheet SPVs sponsored.


6 The following additional information is disclosed in terms of the RBI circular (Ref. No. RBI/2009-2010/356/IDMD/4135/11.08.43/2009-10) dated March 23, 2010:


7 The figures for the previous year have been reclassified, wherever necessary to conform with the current year''''s classification / disclosure.


8 The figures of '''' 50,000 or less have been denoted by B.

CIN: U67190WB2003PTC096617. Trading in Commodities is done through our Group Company Dynamic Commodities Pvt. Ltd. The company is also engaged in Proprietory Trading apart from Client Business.
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Disclosure: We, Dynamic Equities Private Limited are also engaged in Proprietory Trading apart from Client Business. In case of any complaints/grievances, clients may write to us at compliance@dynamiclevels.com

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