Reliance Capital Asset Management Limited Annual Report 2006071963

7/25/2019 Reliance Capital Asset Management Limited Annual Report 2006071963

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RELIANCE CAPITAL

ASSET MANAGEMENT LIMITED

ANNUAL REPORT

2006-07


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DIRECTORS' REPORT

To the Members,

Your Directors take pleasure in presenting their Twelfth Annual Report on the business and

operations of the Company together with the audited Statement of Accounts for the year ended

March 3! "##$%

Financial Results:

Year ended Year ended

March 31, 2007 March 31, 2006 (Rs. (Rs.

&ross 'ncome "#!"(!)*!3(( *3!))!)+!,$$

Depreciation !*3!3(!"" !3!)"!#)3

-rofit before ta. $)!,"!,3!)+ )3!,*!,!,*3

-ro/ision for ta.ation "+!$!)#!$33 +!"3!(!($$

-ro/ision for Deferred Ta. Asset0 12iability !+3!*(!"$+ ),!*)!+$

4.cess0 1Short pro/ision for ta. in the pre/ious year 3,!"$!+,( ,,!)(!+#"

5et -rofit +!#3!((!+)3 3#!#)!#(!"3+

6alance carried to 6alance Sheet !#3!+(!**!,#( +"!+3!33!"(3

6asic and Diluted 4-S of Rs% # each ($%, 3*%,"

!i"idend:

The Company has decided to plough back its entire profits for future de/elopments% 7ence no

di/idend is recommended for the year under re/iew%

#$erations:

The Company is the 'n/estment Manager to Reliance Mutual 8und 1RM8% RM8 is the number one

Mutual 8und in 'ndia as on March 3! "##$ on assets under management 1A9M basis% The A9M of

RM8 as on March 3! "##$ is appro.imately Rs% )(!3#+ Crores% RM8 currently has the following

twenty nine schemes:

Open-ended Equity Schemes Reliance ;ision 8und

Reliance &rowth 8und

Reliance 5R' 4


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Close-ended Equity Schemes Reliance 2ong Term 4on 8und ? '

Reliance 8i.ed 7ori>on 8und ? ''

Reliance 8i.ed 7ori>on 8und ? '''

Open-ended Liquid Schemes Reliance 2i


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A series of Monthly -lans! Fuarterly -lans and Annual -lans were launched under Reliance 8i.ed

7ori>on 8und! Reliance 8i.ed 7ori>on 8und '! Reliance 8i.ed 7ori>on 8und ? ''! Reliance 8i.ed

7ori>on 8und ? '''%

The 8und also repositioned Reliance 8loating Rate 8und to a TG# fund! there was also a change in

Asset Allocation in Reliance 2i


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Returns !eli"ered:

Pe!om"nce o! the )l"$ship Schemes o! R,) +is - % - +is /enchm"# Indices

Compounded %nnu"lised Retuns "s on 01210213

4 ye" 0 ye"s 5 ye"s Since

Inception

Reli"nce Go6th )und )% +%, (#%$" 3"%$*

6S4 ## %$# 3#%* 3#%, "%,,

S @ - C5K 5ifty %$, "*%$3 "$%++ %$,

" Reli"nce +ision )und #%#) 3*%)* +)%3+ "$%*$

6S4 ## %$# 3#%* 3#%, "%,,

S @ - C5K 5ifty %$, "*%$3 "$%++ %$,

3 Reli"nce &RI Equity )und "+% 5A 5A )"%*"

6S4 "## 'nde. #%+, 5A 5A 33%+*

) Reli"nce Equity Oppotunities )und %+ 5A 5A )"%$

6S4 ## %$# 5A 5A 3$%(

+ Reli"nce Equity )und ,%(( 5A 5A ,%$)

S@- C5K 5ifty "%3 5A 5A %$,( Reli"nce Income )und +%) )%#$ (%(" *%+)

Crisil Composite 6ond 8und 'nde. 3%(, "%)# +%3 5A

Reli"nce Liquid )und - Te"suy Pl"n - (%(3 +%)3 +%(, (%$+$ Ret"il option

CR'S'2 2i


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#utloo+:

The 'ndian Mutual 8und industry is one of the fastest growing industries in the financial ser/ice sector

with 3# AMCs currently operating in the country% The industry has grown at a CA&R of ") since

*(+ and the A9M has grown by * in the last three years! with Rs% 3"()")%$, crores of assets

as on March L#$%

RM8 intends to acti/ely pursue growth opportunities in the fast growing mutual fund industry in the

country and to be most preferred in/estment choice for retail in/estors% The fund house is poised to

grow with inno/ati/e products and ser/ice initiati/es and aggressi/e e.pansion strategies%

oard Meetin*s held durin* the -ear:

During the year under re/iew! nine meetings of the 6oard of Directors of the Company were held%

.ssue o/ shares o/ the 0om$an-:

The company has issued no further shares during the year%

Fi1ed !e$osits:

The Company has not accepted any 8i.ed Deposits from the public%

!irectors:

Mr% anu Doshi ? Director of the Company! retires by rotation and being eligible offers himself for re

appointment%

Mr% S% C% Tripathi was appointed as the Additional Director of the Company with effect from 8ebruary

! "##$% Mr% Amitabh NhunOhunwala resigned as Director with effect from 8ebruary +! "##$%

Your Directors place on record their deep appreciation for the in/aluable contributions made by Mr%

Amitabh NhunOhunwala during his tenure as Director of the Company%

As per Section "(# of the Companies Act! *+(! Mr% S% C% Tripathi! who is an Additional Director! will

hold office till the date of Annual &eneral Meeting of the Company% As per Section "+$ of theCompanies Act! *+(! the Company has recei/ed notice along with deposit from a member

proposing the candidature of Mr% S% C% Tripathi for the office of Director of the Company%

!irectors2 Res$onsibilit- (tatement:

-ursuant to the re


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1ii The Directors ha/e selected such accounting policies in consultation with the Statutory

Auditors and ha/e applied them consistently and made Oudgments and estimates that were

reasonable and prudent so as to gi/e a true and fair /iew of the state of affairs of the

Company as at March 3! "##$ and of the profit or loss of the Company for the year under

re/iew%

1iii The Directors ha/e taken proper and sufficient care to the best of their knowledge and ability

for the maintenance of ade


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)udit committee:

'n compliance with the pro/isions of Section "*"A of the Companies Act! *+(! the 6oard of Directors

has constituted an Audit Committee of Directors comprising of! Mr% anu Doshi! Mr% S% C% Tripathi! Mr%

Manu Chadha and Mr% Amitabh Chatur/edi%

)c+no&led*ements:

Your Directors place on record their deep appreciation for the cooperation and assistance recei/ed

from S46'! R6'! Custodian! 6ankers! Registrars! Shareholders and other business constituents

during the year under re/iew%

Your Directors also wish to place on record their appreciation for the commitment displayed by all the

e.ecuti/es! officers and staff! resulting in successful performance during the year%

)OR %&D O& /E(%L) O) T(E /O%RD O) DIRECTORS

%mit"bh Ch"tuvedi 8"nu Doshi

Diecto Diecto

-lace: Mumbai

Dated: April 3! "##$


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RELI%&CE GROT( )*&D - GROT(

CR'S'2 has assigned a Composite -erformance Rank of B CRISIL9CPR 4 J =pen 4nd Di/ersified

4e! Concentration! A/erage Maturity! Asset Fuality@ Downside Risk -robability of the scheme% The methodology does not take into account theentry and e.it loads le/ied by the scheme% The CR'S'2 C-R is no indication of theperformance that can be e.pected from the scheme in future%

Ranking Source: CR'S'2 8undSer/ices! CR'S'2 2imited

RELI%&CE LI*ID )*&D - TRE%S*R. PL%&

CR'S'2 has assigned a Composite -erformance Rank of BCRISIL9CPR 0J =pen 4nd 2i


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indly note that the CR'S'2 C-R should be disseminated as follows:

CRISIL9CPR 0 Open End Liquid Scheme: ;"nu"y


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6enchmark maturity for this scale is " months% The rated fund carries the lowest credit risk! similar to

that associated with shortterm debt obligations rated in the highestcredit


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RELIANCE CAPITAL ASSET MANAGEMENT LIMITED

REPORT OF THE AUDITOR TO THE MEMBERS

We have audited the attached Balance Sheet of RELIANCE CAPITAL ASSETMANAGEMENT LIMITED as at 3st Ma!ch "##$% anne&ed P!ofit and Loss Account

fo! the 'ea! ended on that date% and also the Cash (lo) State*ent fo! the 'ea! ended onthat date+ These financial state*ents a!e the !es,onsi-ilit' of the Co*,an'.s

*ana/e*ent+ 0u! !es,onsi-ilit' is to e&,!ess an o,inion on these financial state*ents

-ased on ou! audit+

+ We conducted ou! audit in acco!dance )ith the auditin/ standa!ds /ene!all' acce,ted

in India+ These standa!ds !e1ui!e that )e ,lan and ,e!fo!* the audit to o-tain

!easona-le assu!ance a-out )hethe! the financial state*ents a!e f!ee f!o* an'

*ate!ial *isstate*ents+ An audit includes% e&a*inin/ on a test -asis% evidence

su,,o!tin/ the a*ounts and disclosu!es in the financial state*ents+ An audit also

includes% assessin/ the accountin/ ,!inci,les used and si/nificant esti*ates *ade -'the *ana/e*ent% as )ell as evaluatin/ the ove!all ,!esentation of the financial

state*ent+ We -elieve that ou! audit ,!ovides a !easona-le -asis fo! ou! o,inion+

"+ As !e1ui!ed -' the Co*,anies 2Audito!.s Re,o!t 0!de!% "##3 and Co*,anies

2Audito!.s Re,o!t 2A*end*ent 0!de!% "##4% issued -' the Cent!al Gove!n*ent

in te!*s of Section ""$24A of the Co*,anies Act% 567% )e anne& he!eto a

state*ent on the *atte!s s,ecified in ,a!a/!a,hs 4 and 6 of the said 0!de!+

3+ (u!the! to ou! co**ents in the Anne&u!e !efe!!ed to a-ove% )e !e,o!t that8

a We have o-tained all the info!*ation and e&,lanations% )hich% to the -est of

ou! 9no)led/e and -elief% )e!e necessa!' fo! the ,u!,oses of ou! audit:

- In ou! o,inion% ,!o,e! -oo9s of account as !e1ui!ed -' la) have -een 9e,t -'

the Co*,an'% so fa! as a,,ea!s f!o* ou! e&a*ination of -oo9s of the

Co*,an':

c The Balance Sheet% P!ofit and Loss account and Cash (lo) State*ent dealt

)ith -' this !e,o!t a!e in a/!ee*ent )ith the -oo9s of account of the

Co*,an':

d In ou! o,inion% the Balance Sheet% P!ofit and Loss account and Cash (lo)

State*ent dealt )ith -' this !e,o!t co*,l' )ith the Accountin/ Standa!ds

!efe!!ed to in su-;section 23C of section " of the Co*,anies Act% 567:

e) Based on the )!itten !e,!esentations *ade -' the Di!ecto!s as on 3stMa!ch%

"##$ and ta9en on !eco!d -' the Boa!d of Di!ecto!s of the Co*,an'% and theinfo!*ation and e&,lanations /iven to us% none of the di!ecto!s is% as at 3stMa!ch% "##$% ,!i*a;facie dis1ualified f!o* -ein/ a,,ointed as a di!ecto! inte!*s of clause 2/ of su-;section 2 of Section "$4 of the Co*,anies Act%567:


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f In ou! o,inion and to the -est of ou! info!*ation and acco!din/ to the

e&,lanations /iven to us% the said financial state*ents !ead to/ethe! )ith the

notes the!eon% /ive the info!*ation !e1ui!ed -' the Co*,anies Act% 567% in

the *anne! so !e1ui!ed and /ive a t!ue and fai! vie) in confo!*it' )ith theaccountin/ ,!inci,les /ene!all' acce,ted in India8

2i in the case of the Balance Sheet% of the state of affai!s of the Co*,an' as

at 3st Ma!ch "##$:

2ii in the case of the P!ofit and Loss Account% of the ,!ofit fo! the 'ea! ended

on that date: and

2iii in the case of the Cash (lo) State*ent% of the cash flo)s fo! the 'ea!

ended on that date+

(o! and -ehalf of

DALAL & SHAH

Cha!te!ed Accountants

Ashish Dalal

Pa!tne!

Mu*-ai8 3th A,!il% "##$ Me*-e!shi, No+ 33657


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ANNEXURE REFERRED TO IN PARAGRAPH 2 OF OUR AUDITORS REPORT

OF EVEN DATE ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2007 OF RELIANCE CAPITAL ASSET MANAGEMENTLIMITED

--------------------------------------------------------------------------------------------------------

2i+ 2aThe Co*,an' has *aintained ,!o,e! !eco!ds sho)in/ ,a!ticula!s includin/

1uantitative details and situation of fi&ed assets:

2-As e&,lained to us% the fi&ed assets have -een ve!ified -' the *ana/e*ent at

!easona-le inte!vals% in a ,hased ve!ification ,!o/!a**e% )hich% in ou! o,inion% is

!easona-le% loo9in/ to the si


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2viii+2aAcco!din/ to the !eco!ds of the Co*,an'% it has -een !e/ula! in de,ositin/

undis,uted statuto!' dues includin/ P!ovident (und% E*,lo'ees. State Insu!ance%Inco*e;Ta&% Sales Ta&% Wealth;Ta&% Custo*s dut'% E&cise Dut'% Se!vice Ta&%

Cess and othe! statuto!' dues )ith the a,,!o,!iate autho!ities+ The!e )e!e no dues

du!in/ the 'ea! in !es,ect of Investo! Education and P!otection (und% Sales Ta&%

E&cise Dut'% Custo*s Dut' and Cess:

2-0n the -asis of ou! e&a*ination of the docu*ents and !eco!ds and the info!*ation

and e&,lanations /iven to us% the!e a!e no dis,uted dues in !es,ect of Inco*e Ta&%

Sales Ta&% Custo*s Dut'% Wealth Ta&% E&cise Dut'% Se!vice Ta& and Cess:

2i&+ The Co*,an'% neithe! has accu*ulated losses at the end of the financial 'ea! no!has incu!!ed cash losses% -oth% in the financial 'ea! unde! !e,o!t and in the

i**ediatel' ,!ecedin/ financial 'ea!:

2&+ 0n the -asis of the !eco!ds e&a*ined -' us and the info!*ation and e&,lanations

/iven to us% the!e )e!e no dues to an' -an9s% financial institutions o! de-entu!e

holde!s:

2&i+ As e&,lained to us% the Co*,an' has not /!anted an' loans o! advances on the

-asis of secu!it' -' )a' of ,led/e of sha!es% de-entu!es o! an' othe! secu!ities:

2&ii+ In !es,ect of sha!es% secu!ities% de-entu!es and othe! invest*ents dealt in o! t!aded

-' the Co*,an'% ,!o,e! !eco!ds have -een *aintained in !es,ect of t!ansactionsand cont!acts and ti*el' ent!ies have -een *ade the!ein+ All the invest*ents have

-een held -' the Co*,an' in its o)n na*e:2&iii+ Acco!din/ to the info!*ation and e&,lanations /iven to us% and the !e,!esentations

*ade -' the *ana/e*ent% the Co*,an' has not /iven an' /ua!antee fo! loans

ta9en -' othe!s f!o* an' -an9 o! financial institution:

2&iv+ The Co*,an' has not o-tained an' te!* loans du!in/ the 'ea!:

2&v+ Acco!din/ to the info!*ation and e&,lanations /iven to us and on an ove!all

E&a*ination of the financial state*ents of the Co*,an'% )e a!e of theo,inion that% ,!i*a;facie sho!t te!* funds have not -een used fo! lon/ te!*

Invest*ent:

2&vi The Co*,an' has not *ade an' ,!efe!ential allot*ent of sha!es to ,a!ties

and Co*,anies cove!ed in the !e/iste! *aintained unde! Section 3# of the

Co*,anies Act% 567:

2&vii The Co*,an' has not issued an' de-entu!es du!in/ the 'ea!% no! )as

an' de-entu!es outstandin/ at the -e/innin/ of the 'ea!:


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2&viii The Co*,an' has not !aised an' *one' -' ,u-lic issue du!in/ the 'ea!:

2&i& Acco!din/ to the info!*ation and e&,lanations /iven to us% and to the -est

of ou! 9no)led/e and -elief% no f!aud on o! -' the Co*,an' has -een

noticed o! !e,o!ted -' the Co*,an' du!in/ the 'ea!:

Loo9in/ to the natu!e of activities -ein/ ca!!ied on% at ,!esent% -' the Co*,an' and alsoconside!in/ the natu!e of the *atte!s !efe!!ed to in the va!ious clauses of the Co*,anies

2Audito!.s Re,o!t 0!de!% "##3% and the Co*,anies 2Audito!.s Re,o!t 2A*end*ent0!de!% "##4% clauses 2ii2-% 2ii2c% 2iii2-% 2iii2c% 2iii2d% 2iii2f% 2iii2/% 2v2-% 2viii

and 2&iii of ,a!a/!a,h 4 of the afo!esaid 0!de!% a!e% in ou! o,inion% not a,,lica-le to the

Co*,an'+

(o! and on -ehalf of

DALAL & SHAHCha!te!ed Accountants

Ashish Dalal

Mu*-ai8 3th

A,!il% "##$ Pa!tne!

Me*-e!shi, No+ 33657


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Reli"nce C"pit"l %sset ,"n"$ement Limited

/%L%&CE S(EET %S %T 04ST ,%RC(:


18/30


PRO)IT 7 LOSS %CCO*&T )OR T(E .E%R E&DED O& 04ST ,%RC(:


19/30


SC(ED*LES )OR,I&G P%RT O) T(E /%L%&CE S(EET

?Rupees@ ?Rupee

%s "t 04st ,"ch:


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Reliance Capital Asset Management 2imited


Schedule F/F

)ied %ssets

Goss /loc# ?%t Cost@ Depeci"tion &et /loc#

%ssets As at Additions Deductions As at 9p to During the Deductions 9p to As at

%)%"##( 3%#3%"##$ %)%"##( Year 3%#3%"##$ 3%#3%"##$ 3

Computer 3#!*,$!*3) +!*$+!$), ("!$*" )(!3+#!,*# $!$33!3( $!++3!*," )"$!(", ")!,+*!)*# "!)*!)##

Motor Car #!)$(!#* !,+"!$,+ ,!("3!3") 3!(")!+#* !+3"!$, ,"!##( )!33(!"" )!",$!#3

=ffice 4


21/30

Reliance Capital Asset Management 2imited


?Rupees@ ?Ru

6uantit- 0ost 6uantit-

)"ce %s "t %s "t %s "t

Schedule FCF +"lue 042102


22/30



?Rupees@

%s "t 04st ,"ch:


23/30


SC(ED*LES )OR,I&G P%RT O) T(E PRO)IT %&D LOSS %CCO*&T

?Rupees@

%s "t 04st ,"ch:


24/30


C%S( )LO ST%TE,E&T )OR T(E .E%R E&DED 04ST ,%RC(:


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R!"#$%! C$'#($" A))!( M$%$*!+!%( L#+#(!,

SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO

ACCOUNTS

S!,."! /

S#*%##$%( A.%(#%* P"##!) $%, N(!) ( A.%()

A4 S#*%##$%( A.%(#%* P"##!)

+ Basis of ,!e,a!ation of (inancial State*ents8

The financial state*ents have -een ,!e,a!ed unde! the histo!ical cost convention in acco!dance )ith the

/ene!all' acce,ted accountin/ ,!inci,les in India and the ,!ovisions of the Co*,anies Act% 567+

"+ ?se of Esti*ates8

The ,!esentation of financial state*ents in confo!*it' )ith the /ene!all' acce,ted accountin/ ,!inci,les

!e1ui!es esti*ates and assu*,tions to -e *ade that affect the !e,o!ted a*ount of assets and lia-ilities on

the date of the financial state*ents and the !e,o!ted a*ount of !evenues and e&,enses du!in/ the !e,o!tin/

,e!iod+ Diffe!ence -et)een the actual !esult and esti*ates a!e !eco/nised in the ,e!iod in )hich the !esults

a!e 9no)n= *ate!ialised+

3+ (i&ed Assets8

(i&ed Assets a!e stated at histo!ical cost less accu*ulated de,!eciation+

4+ De,!eciation8

De,!eciation of (i&ed Assets is ,!ovided on )!itten do)n value *ethod in acco!dance )ith Section "#6 2"

2a of the Co*,anies Act% 567 as ,e! !ates s,ecified in Schedule @I to the Co*,anies Act%

567+De,!iciation on I*,!ove*ent to Lease P!e*ises is ,!ovided on st!ai/ht line *ethod ove! the ,e!iod

of lease+

6+ I*,ai!*ent of Assets8

An asset is i*,ai!ed )hen the ca!!'in/ a*ount of the asset e&ceeds its !ecove!a-le a*ount+ An

i*,ai!*ent loss is cha!/ed to the ,!ofit loss account in the 'ea! in )hich an asset is identified as

i*,ai!ed+ An i*,ai!*ent loss !eco/ni


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R!"#$%! C$'#($" A))!( M$%$*!+!%( L#+#(!,


ACCOUNTS

5+ Reti!e*ent -enefits8

The Co*,an' cont!i-utes to a Reco/nised P!ovident (und+ G!atuit' and Su,e!annuation sche*es a!ead*iniste!ed th!ou/h ,olicies ta9en f!o* Insu!ance Co*,an'+ P!ovision is also *ade fo! the sho!tfall fo!

/!atuit' lia-ilit' as ce!tified -' the insu!ance co*,an'+

#+ Leave Encash*ent8

Leave encash*ent ,!ovision is *ade on the -asis of the leave outstandin/ and entitled to -e ca!!ied

fo!)a!d+

+ Bo!!o)in/ Cost8

Bo!!o)in/ cost is cha!/ed to !evenue

"+ (o!ei/n Cu!!enc' T!ansactions8

E&,enses and Inco*es a!e !eco!ded at the e&chan/e !ate ,!evailin/ on the date of t!ansactions+ Moneta!'assets and lia-ilities at the Balance Sheet date a!e !estated at the e&chan/e !ate ,!evailin/ on the Balance

Sheet date+ The e&chan/e diffe!ences a!isin/ on settle*ent of the t!ansaction and on account of

!estate*ent of assets and lia-ilities a!e dealt )ith as (o!ei/n E&chan/e (luctuations in the ,!ofit and loss

account e&ce,t in case of t!ansactions involvin/ ,u!chase of fi&ed assets )he!ein such diffe!ences a!e

ad>usted in the cost of the fi&ed assets

3+ Leased Assets8

Rentals in !es,ect of assets ta9en on o,e!atin/ lease -' the co*,an' a!e e&,ensed )ith !efe!ence to the

te!*s of the lease and othe! conside!ations+

4+ P!ovisions% Contin/ent Lia-ilities and Contin/ent Assets8

P!ovisions involvin/ su-stantial de/!ee of esti*ation in *easu!e*ent a!e !eco/ni


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R!"#$%! C$'#($" A))!( M$%$*!+!%( L#+#(!,


ACCOUNTS

B4 N(!) % A.%()

5R.'!!)

14 U%'$#, P!!!%! S$!) D#8#,!%,9 2006 : 2007 200; : 2006

6 dividend on ,!efe!ence sha!es in a!!ea!s fo! the 'ea!s %""%6#%### %#6%##%###

"###;# to "##7;#$ 2,!evious 'ea! "###;# to "##6;#7

24 P$


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SIG&I)IC%&T %CCO*&TI&G POLICIES %&D &OTES TO %CCO*&TS

4 R!"$(!, P$(< D#)").!)9

5# L#)( R!"$(!, P$(#!) #( + ($%)$(#%) $8! ($?!% '"$! $%, !"$(#%)#')9

S4 N4 N$+! (! R!"$(!, P$(< R!"$(#%)#'

Reliance Ca,ital Li*ited oldin/ Co*,an'

" Reliance Asset Mana/e*ent 2Mau!itius Ltd Wholl' 0)ned Su-sidia!'3 Reliance Asset Mana/e*ent 2Sin/a,o!e Pte Ltd Wholl' 0)ned Su-sidia!'

4 Reliance Gene!al Insu!ance Co*,an' Ltd+ (ello) Su-sidia!'

6 Reliance Gilts Ltd 2fo!*e!l' Reliance Life Insu!ance Co*,an' Li*ited (ello) Su-sidia!'

7 Reliance Ca,ital T!ustee Co Ltd (ello) Su-sidia!'

$ Reliance Life Insu!ance Co+Ltd (ello) Su-sidia!'

D Reliance Mutual (und Associate

5 M!+A*ita-h Chatu!vedi Whole Ti*e Di!ecto!

2P!evious Fea!

# Ms+Geeta Chand!an Mana/e!

S4N N$(.! T$%)$(#% H",#%* C+'$%< ""< O%!, F!"" A))#$(! -3"! T#+! T($"

S.>)#,#$#!) S.>)#,#$#!) D#!(

M$%$*!7

A Invest*ents

Pu!chases 7"%33"%#$6 %36%###%### %44$%33"%#$6

2445%6 24$#%3$%35 24$#%3$%4"#

Sales ; %%77"%4$7 %%77"%4$7

; 23##%$3%63 23##%$3%63

B Sund!' De-to!s $%4"%5 $%4"%5

2"33%75%343 2"33%75%343

C Sund!' C!edito!s 4%$57%53 4%$57%53

; ;

D Advance !ecove!a-le in cash o! in 9ind o! fo! value to -e !eceived 6%$%476 3"6%## $"$%564 7%"4#%455

; 24$5%7## 24$5%7##

E Loans to Su-sidia!ies ;

Balance as on #+#4+"##7 4%744%### 4%744%###

Add8 Given du!in/ the 'ea! ; ;

Balance as on 3+3+"##$ 4%744%### 4%744%###

;

( Invest*ent Mana/e*ent Adviso!' (ees %$$$%"6%4$ %$$$%"6%4$

2$$3%"6%"56 2$$3%"6%"56

G Po!tfolio Mana/e*ent (ees 3%37$%"## ; 3%37$%"##

; 2$"%"#6 2$"%"#6

Dividend on Lon/ Te!* Invest*ents 37%45%3 37%45%3

23%#37%6" 23%#37%6"

ISala!ies Benefits to E*,lo'ees "%"6#%### "%"6#%###

27%"3$%$43 27%"3$%$43

Rent E&,ense 3%443%### "%##%6## 6%6"3%6##

2$%7"#%### ; 2$%7"#%###

HMa!9etin/ E&,enses "##%###%### "##%###%###

; ;

LInsu!ance Cha!/es 3%$"%3"4 3%$"%3"4

2includin/ ,!e,aid and ca,italised 23%%664 23%%664

MG!atuit' P!e*iu* 6%33%" 6%33%"

; ;

NInte!est Received 3"6%## 3"6%##

; ;


29/30

R!"#$%! C$'#($" A))!( M$%$*!+!%( L#+#(!,


ACCOUNTS

104 Disclosu!e in !es,ect of de!ivative inst!u*ents

a De!ivative inst!u*ents outstandin/8 Nil 2P!evious Fea! Rs+Nil

- (o!ei/n E&,osu!es that a!e not hed/ed -' de!ivative inst!u*ents8

As at 3stMa!ch "##$ As at 3

stMa!ch "##7

?SD Sin/ Dolla! ?SD Sin/ Dolla!

#%###Loans #%### 4#%### 4#%###

;Inte!est Receiva-le 6%7## "%## ;

114In the o,inion of the *ana/e*ent% the Co*,an' is *ainl' in the -usiness of Asset Mana/e*ent Se!vices+ As

such% the!e is onl' one !e,o!ta-le se/*ent+124(i/u!es of the ,!evious 'ea! a!e !e/!ou,ed and !eclassified )he!eve! necessa!' to co!!es,ond to the fi/u!es of

the cu!!ent financial 'ea!

As ,e! ou! attached !e,o!t of even date+ (o! and on -ehalf of the Boa!d

F $%, % >!$" D$"$" & S$ A+#($> C$(.8!,# $%. D)#

Cha!te!ed Accountants Di!ecto! Di!ecto!

V#?$%( G.*%$%# A+#( B$'%$

Pa!tne! P!esident Chief (inancial 0ffice!

G!!($ C$%,$%

Mana/e!

Mu*-ai Mu*-ai

Date8 3th A,!il% "##$ Date8 3th A,!il% "##$


30/30

R!"#$%! C$'#($" A))!( M$%$*!+!%( L#+#(!,


ACCOUNTS

S($(!+!%( '.).$%( ( P$( IV S!,."! VI ( (! C+'$%#!) A( 1;64

B$"$%! S!!( A>)($( $%, C+'$%Pu-lic Issue N I L Ri/hts Issue N I L

Bonus Issue P!ivate Place*entN I L N I L

III4 P3)#(#3% 32 M3>#"#)$(#3% $%, D!'"3

Documents

Reliance Capital Asset Management Limited Annual Report 2006071963