BALANCE SHEET AS AT 31st MARCH 2008

Current Year Previous year

SOURCES OF FUNDS
(Rs. '000) (Rs. '000)
SHAREHOLDERS' FUNDS:
Share Capital 12,706,359 8,007,148
— 287,391
Share application money received pending allotment of shares 3,881 —
Reserve and Surplus
52,892 65,902
Credit / [Debit] Fair Value Change Account
Sub-Total 3,881 —
BORROWINGS 13,263,132 8,360,441
78,657 ——
POLICYHOLDERS' FUNDS:
93,745 91,247
Credit / [Debit] Fair Value Change Account
Policy Liabilities 24, 66,747 17,391,531
Insurance Reserves — —
Provision for Linked liabilities 3,133,608 2,582,499
59,451,584 28,516,763
Add: Fair value change
Total Provision for Linked Liabilities 84,012,076 45,999,541
Sub-Total
Funds for Future Appropriations — —
Funds for future appropriation - Provision for lapsed policies unlikely to be revived 246,951 59,485
Surplus Allocated to Shareholders — —
TOTAL 97,522,159 54,419,467

APPLICATION OF FUNDS
INVESTMENTS
Shareholders' 8 4,213,064 1,529,743
Policyholders' 8A 23,299,043 17,782,866
Assets held to cover Linked Liabilities 8B 59,451,584 28,516,763
LOANS 9 18,618 12,638
FIXED ASSETS 10 1,331,800 736,054
CURRENT ASSETS
11 4,493,238 3,363,556
Cash and bank balances
Advances and Other Assets 12 4,082,489 1,961,980
Sub-total (A) 8,575,727 5,325,536
CURRENT LIABILITIES 13 6,129,149 3,874,652
PROVISIONS 14 1, 22,019 30,845
Sub-Total (B) 6,251,168 3,905,497
NET CURRENT ASSETS (C) = (A - B) 2,324,559 1,420,039
MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) 15 — —
DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT (Shareholders' account) 6,883,491 4,421,364
TOTAL 97,522,159 54,419,467