FINANCIAL STATEMENT

DISCLOSURE CHECK LIS FOR LISTED COMPANIES

The Institute of Chartered Accountants of Pakistan

INDEX
Introduction and Explanatory Comments PART I General Disclosure/ Information 1 General Disclosure 2 Fundamental Accounting Assumption 3 Significant Accounting Policies 3.5 Changes in Accounting Policies 3.6 Errors 3.7 Changes in Accounting Estimates Balance Sheet 1.0 Information to be Presented on the face of the Balance Sheet 2.0 Share Capital 3.0 Reserves 4.0 Surplus on Revaluation of Fixed Assets 5.0 Statement of Changes in Equity 6.0 Non-current Liabilities 6.1 Fourth Schedule Requirement 6.2 Lease Disclosure by Lessees 6.3 Deferred Liabilities & Employe Benefits 7.0 Current Liabilities 8.0 Contingencies 9.0 Commitments 10.0 Events after the Balance Sheet Date 11.0 Fixed Assets (Other than Investments)

PART II

12.0 Long-Term Investments 13.0 Long-Term Loans and Advances 14.0 Long-Term Deposits and Prepayments 15.0 Current Assets 16.0 Inventories PART III Profit and Loss Account 18.0 Gains and Losses 19.0 Related Party Transaction 20.0 Retirement Benefits 21.0 Income Tax 22.0 Segment Reporting 23.0 Extraordinary Items 24.0 Earning Per Share PART IV PART V PART VI PART VII PART VIII PART IX PART X PART XI PART XII PART XIII PART XIV Cash Flow Statement Interim Financial Statements (IFS) Non-Current Assets held for Sale and Discontinued Operations Share Based Payments Agriculture Banks and Similar Financial Institutions Construction Contractors Extractive Industries Lease Disclosures by Lessors Reporting by Retirement Benefit Plans Business Combinations

FINANCIAL STATEMENTS DISCLOSURE CHECK LIST FOR LISTED COMPANIES

(REVISED JUNE 2008)

The Institute of Chartered Accountants of Pakistan

INDEX
Page No.

duction and Explanatory Comments

eral Disclosure/ Information eral Disclosure amental Accounting Assumption ficant Accounting Policies Changes in Accounting Policies Changes in Accounting Estimates

mation to be Presented on the face of the Balance Sheet

us on Revaluation of Fixed Assets ment of Changes in Equity current Liabilities Fourth Schedule Requirement Lease Disclosure by Lessees Deferred Liabilities & Employe Benefits ent Liabilities

ts after the Balance Sheet Date d Assets (Other than Investments)

-Term Investments -Term Loans and Advances -Term Deposits and Prepayments

and Loss Account

s and Losses ed Party Transaction ement Benefits

ment Reporting ordinary Items ng Per Share Flow Statement

m Financial Statements (IFS)

Current Assets held for Sale and Discontinued Operations

e Based Payments

s and Similar Financial Institutions

truction Contractors

ctive Industries

e Disclosures by Lessors

rting by Retirement Benefit Plans

ness Combinations

Page No. 1

2 5 6 7 9 9

10 13 15 15 15 17 17 19 24 25 27 28 28

40 52 53 53 54 55 58 58 60 60 62 66 66 68 70 72 74 76 78 81 82 82 83 85

INTRODUCTION AND EXPLANATORY COMMENTS

This checklist seeks to provide guidance to the reporting companies and their auditors with regard to the disclosures to be made in the financial statements prepared in accordance with the approved accounting standards as defined in the Institutes circular No. 07/2007 dated November 02, 2007 and the requirements of the Companies Ordinance, 1984.

The checklist is merely a technical practice aid and in no way represents the authoritative pronouncements of the Institute. It does not aim at interpreting the statutory disclosure requirements set out in the Fourth Schedule. IFRSs/ IASs, or TRs laid down in various professional pronouncements. This checklist seeks to represent minimum requirements and does not purport to be all inclusive and would need review in the light of changes in statutory requirements and accounting standards from time to time. Users may need to expand or modify the checklist when further accounting standards are issued or made applicable subsequently.

Users of this checklist are advised to refer directly to applicable statutory provisions and accounting standards when appropriate. In determining the applicability of any standards, its effective date should also be considered. Use of the checklist requires the exercise of individual professional judgment and may require some modification based on the circumstances of individual reporting companies.

The checklist includes accounting standards pertaining to specific industry applications, namely accounting for contracts, leasing, modarabas, banks, insurance, retirement plans etc. and the disclosures required to be made by banks and insurance companies under the Banking Companies Ordinance, 1962 and the Insurance Ordinance, 2000 respectively.

Respond to each item of the checklist with a tick (P) in the appropriate column : Yes: indicating disclosures; No: indicating disclosures not made and N/A: showing items not present or relevant. Items marked No should be accompanied by an explanatory memorandum to document in what manner and to what extent disclosure falls short of the statutory requirement and accounting standards . The explanation should include either the amount or an appropriate percentage relationship. Each disclosure requirement listed in the checklist, wherever applicable, is denoted by relevant clause or reference of the IAS, or Schedule, Sch. I, II, or III followed by a paragraph number refers to Part I, II or III of the Fourth Schedule, as applicable. Circular reference indicate important circulars on disclosure requirements issued by the Securities and Exchange Commission of Pakistan from time to time.

10 Disclosure requirements of IFRS 7 are not included in this Checklist as the Standard is effective for the accounting period beginning on or after July 01, 2008.

Page 10 of 189

FINANCIAL STATEMENTS DISCLOSURE CHECKLIST

NAME OF THE COMPANY _____________________________ FINANCIAL STATEMENTS FOR THE YEAR ______________________________________ NAME OF THE AUDITOR ______________________________
DISCLOSURE MADE YES PART I GENERAL DISCLOSURE / INFORMATION General Disclsoures Is the following information disclosed? a) b) c) d) the domicile and legal form of the Company, and its country of incorporation a description of the nature of the Company's operations and its principal activities; the name of the parent Company and the ultimate parent Company of the group; the address of the registered office (or principal place of business, if different from the registered office) 1.2 Do the financial statements include:a) b) c) balance sheet; profit & loss account a statement showing either: i) ii) d) e) 1.3 1.4 all changes in equity; or changes in equity other than those arising from capital transactions with equity holders acting in their capacity as equity holders cash flow statement; and accounting policies and explanatory notes. IAS 1.8 IAS 1.46 IAS 1.126 NO

1.0 1.1

Is each component of the financial statements clearly identified? Is the following information prominently displayed and repeated in each component of the financial statements which is necessary for a proper understanding of the information presented:a) b) c) the name of the Company or other means of identification and any change in the information from the preceding balance sheet date. whether the financial statements cover the individual Company or a group of Companies. the balance sheet date or the period covered by the financial statements, whichever is appropriate to the related component of the financial statements. d) e) the presentation currency; and the level of rounding used in the presentation of figures in the financial statements

IAS 1.46

Page 11 of 189

DISCLOSURE MADE YES 1.5 Does the statement of compliance given in the notes to the financial statements comply with the approved accounting standards? Has this fact been disclosed? (ICAP Circular 07/2007, November 2, 2007) 1.6 Has the management in the extremely rare circumstances concluded that compliance with a requirement in approved accounting standards is so misleading that it would conflict with the objective of financial statements set out in the Framework? 1.7 If answer to 1.6 above is "Yes" then the management has departure from the requirement in the following manner, if the relevant regulatory framework requires, or otherwise does not prohibit, such a departure. Have the following disclosures been made in the financial statements:a) that management has concluded that the financial statements fairly present the Companys financial position, financial performance and cash flows; b) that it has complied in all material respects with an applicable approved accounting standard except that it has departed from a standard in order to achieve a fair presentation; c) the approved accounting standard from which the Company has departed, the nature of departure including the treatment that the standard would require, the reason why that treatment would be misleading in the circumstances and the treatment adopted; and d) for each period presented, the financial impact of the departure on each item in the financial statements that would have been reported in complying with the requirement. 1.8 When Company has departed from a requirement of a Standard or an Interpretation in a prior period, and the departure affects the amounts recognised in the financial statements for the current period, has the Company disclosed it as per 1.7 (c ) & (d)? 1.9 In the extremely rare circumstances in which management concludes that compliance with a requirement in a Standard or an interpretation could be so misleading that it would conflict with the objective of financial statements set out in the Framework, but the relevant regulatory framework prohibits departure from the requirement, has the Company, to the maximum extent possible, reduced the perceived misleading aspects of compliance by disclosing: IAS 1.19 IAS 1.18 IAS 1.17 NO

IAS 1.21

a) b) c)

the title of the Standard or Interpretation from which the Company has departed; the nature of the departure; the reason why management has concluded that complying with that requirement is so misleading in the circumstances that it conflicts with the objective of financial statements set out in the Framework; and for each period presented, the adjustments to each item in the financial statements that management has concluded would be necessary to achieve a fair presentation.

d)

1.10

Have the financial statements been clearly identified and distinguished from other information in the annual report (for example, by providing an index to the annual report)? IAS 1.44

1.11

When, in exceptional circumstances, the Company's balance sheet date changes and annual financial statements are presented for a period longer or shorter than a year, does the Company disclose:-

Page 12 of 189

DISCLOSURE MADE YES a) b) the reason for a period other than one year being used; and that the profit and loss account; statement of changes in equity and cash flow statement and related notes are not entirely comparable with amounts for the preceding year. 1.12 Has the Company disclosed the following information: a. the date when the financial statements were authorised for issue; b. who authorised the financial statements; and c. if applicable, the fact that the Companys owners or others have the power to amend the financial statements after issue. 1.13 IAS 1.49 NO

IAS 10.17

When the presentation currency is different from the functional currency, has the Company disclosed the following information: a. that fact; b. the functional currency; and c. the reason for using a different presentation currency. IAS.21.53

1.14

When there is a change in the functional currency of either the reporting Company or a significant foreign operation, does the Company disclose the following information: a. that fact; and b. the reason for the change in functional currency

IAS.21.54

1.15

When the Company presents its financial statements in a currency that is different from its functional currency, has it described the financial statements as complying with IFRS only if they comply with all the requirements of each applicable Standard and each applicable Interpretation of those Standards including the translation method set out in IAS 21.39 and 21.42.

IAS 21.55

1.16

Have the following been disclosed by way of notes to the financial statements:a) the information about: i) ii) the basis of preparation of the financial statements the specific accounting policies selected and applied for significant transactions and events b) the information required by approved Accounting Standards that is not presented elsewhere in the financial statements? c) additional information which is not presented on the face of the financial statements but that is necessary for a fair presentation?

IAS 1.103

1.17

Has the Company provided additional disclosures when the particular requirements in IFRSs and Interpretations of those Standards are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the Companys financial position and financial performance.

IAS 1.13 IAS 1.15

1.18

Have the notes to the financial statements been presented in a systematic manner? Has it been ensured that each item on the face of the balance sheet, profit and loss account and cash flow statement is cross-referenced to any related information in the notes.

IAS 1.104

1.19

IAS 1.104

Page 13 of 189

DISCLOSURE MADE YES 1.20 Has the Company: a) disclosed comparative information in respect of the previous period for all amounts reported in the financial statements, unless a Standard permits or requires otherwise. b) included comparative information for narrative and descriptive information when it is relevant to an understanding of the current periods financial statements. 1.21 When the presentation or classification of items in the financial statements is amended and comparative amounts are reclassified (unless the reclassification is impracticable), has the Company disclosed the following information: a. the nature of the reclassification; b. the amount of each item or class of items that is reclassified; and c. the reason for the reclassification. 1.22 When it is impracticable to reclassify comparative amounts, has the Company disclosed the reason not reclassifying and the nature of the changes that would have been made if amounts were reclassified? FUNDAMENTAL ACCOUNTING ASSUMPTIONS Going concern a) Has the financial statements been made on a going concern basis after the management has made an assessment of the Company's ability to continue as a going concern? If answer to (a) above is NO, give the answer to the following questions (b) to (d): b) Does the management intend to liquidate the Company or to cease trading or has no realistic alternative but to do so? c) When the management is aware, in making its assessment of the Company's ability to continue as a going concern, of material uncertainties related to events or conditions which may cast significant doubt upon the Company's ability to continue as a going concern, have those uncertainties been disclosed? d) when the financial statements are not prepared on a going concern basis, has the following information been disclosed:i) ii) iii) the fact that the financial statements have not been prepared on a going concern basis; the basis on which the financial statements have been prepared. the reason why the Company has not been considered to be a going concern. IAS 1.23 IAS 1.23 IAS 1.23 IAS 1.36 NO

IAS 1.38

IAS 1.39

2.0 2.1

Accrual Basis of Accounting 2.2 Has the Company disclosed the fact that its financial statements, except for cash flow information, have been prepared under the accrual basis of accounting? Consistency of Presentation 2.3 Does the Company retain in the financial statements from one period to the next: a) b) 2.4 the presentation of items; and the classification of items. IAS 1.27 IAS 1.25

Has the presentation and classification of items in the financial statements been retained from last period to the present one: If NO, is it due to:

Page 14 of 189

DISCLOSURE MADE YES a) a significant change in the nature of the operations of the Company or a review of its financial statement presentation demonstrates that the change will result in a more appropriate presentation of events or transactions; or b) a change in presentation is required by an approved Accounting Standard or an Interpretation. Materiality and Aggregation 2.5 Has each material class of similar items been presented separately in the financial statements? IAS 1.29 IAS 1.27 NO

3.0 3.1

SIGNIFICANT ACCOUNTING POLICIES Has the accounting policy section of the notes to the financial statements disclosed a description of all significant accounting policies of the reporting Company, presented in a clear and concise manner at one place? Suggestive

3.2

Has the Company disclosed the following in its summary of significant accounting policies: a) the measurement basis (or bases) used in preparing the financial statements (egg. historical cost, current cost, net realisable value, fair value, etc) and; b) the other accounting policies used that are relevant to an understanding of the financial statements.

IAS 1.108

3.3

Has the Company disclosed, in the summary of significant accounting policies or other notes, the judgments (apart from those involving estimations) made by management in applying the accounting policies that have the most significant effect on the amounts recognised in the financial statements. IAS1.113

3.4

The accounting policies that a Company might consider presenting include, but are not restricted to, the following (other standards specifically require disclosure of accounting policies in many of these areas): a) b) c) d) e) f) g) h) i) j) k) revenue recognition; consolidation principles, including subsidiaries and associates; business combinations; joint ventures; property, plant & equipment intangibles capitalization of borrowing costs and other expenditure; construction contracts; investment properties; financial instruments and investments; leases;

Suggestive guidance refer IAS 1.110

Page 15 of 189

DISCLOSURE MADE YES l) m) n) o) p) q) r) research and development costs; inventories; taxes, including deferred taxes; provisions; employee benefit costs; foreign currency translation and hedging; definition of business and geographical segments and the basis for allocation of costs between segments; s) t) u) v) w) x) y) z) 3.5 3.5.1 3.5.2 definition of cash and cash equivalents; inflation accounting; government grants; method used for investment in associates; valuation of inventories; long-term contracts for construction; borrowing costs; segment reporting. NO

Change in Accounting Policies Has the Company changed its accounting policy? Yes or No? If Yes the change in its accounting policy: a. b. is required by a Standard or an Interpretation; or results in the financial statements providing reliable and more relevant information about the effects of transactions, other events or conditions on the Companys financial position, financial performance or cash flows. IAS 8.14

3.5.3

Where a change in accounting policy results from the initial application of a Standard or an Interpretation, have the transitional provisions, if any, in that Standard or Interpretation been applied?

IAS 8.19a

3.5.4

Has the change in accounting policy been applied retrospectively, where a Company changes an accounting policy upon initial application of a Standard or an Interpretation that does not include specific transitional provisions applying to that change, or changes an accounting policy voluntarily?

IAS 8.19b

3.5.5

When retrospective application is required (as noted in 3.7.3 below) has the Company adjusted the opening balance of each affected component of equity for the earliest prior period presented and the other comparative amounts disclosed for each prior period presented as if the new accounting policy had always been applied?

IAS 8.22

Page 16 of 189

DISCLOSURE MADE YES 3.5.6 When retrospective application is required (as noted in 3.5.3 and 3.5.4 above), has the Company applied the accounting policy changes retrospectively because it is impractical to determine either: a. b. 3.5.7 period specific effects; or the cumulative effect of the change. IAS 8.24 IAS 8.23 NO

When it is impracticable to determine the period specific effects of changing an accounting policy, has the Company applied the new accounting policy to the carrying amount of assets and liabilities as at the beginning of the earliest period for which retrospective application is practicable?

3.5.8

When it is impracticable to determine the cumulative effect at the beginning of the current period of applying a new accounting policy, has the Company applied the new accounting policy prospectively from the earliest date practicable?

IAS 8.25

3.5.9

When initial application of a Standard or Interpretation has an effect on the current period or any prior period presented, except that it is impracticable to determine the amount of the adjustment, or might have an effect on future periods, has the Company disclosed the following information: a. b. c. d. e. f. the title of the Standard or Interpretation; when applicable, that the change in accounting policy is made in accordance with its transitional provisions; the nature of the change in accounting policy; when applicable, a description of the transitional provisions; when applicable, the transitional provisions that might have an effect on future periods; for the current period and each prior period presented, to the extent practicable, the amount of the adjustment for each financial statement line item affected and the basic and diluted earnings per share (where IAS 33 applies to the Company); g. h. the amount of the adjustment relating to periods before those presented, to the extent practicable; and if retrospective application is impractical for a particular prior period, or for periods before those presented, the circumstances that led to the existence of that condition and a description of how and from when the change in accounting policy has been applied.

IAS 8.28

3.5.10

When a voluntary change in accounting policy has an effect on the current period or any prior period, except that it is impracticable to determine the amount of the adjustment, or might have an effect on future periods, has the Company disclosed the following information: a. b. c. the nature of the change in accounting policy; the reasons why applying the new accounting policy provides reliable and more relevant information; for the current period and each prior period presented, to the extent practicable, the amount of the adjustment for each financial statement line item affected and the basic and diluted earnings per share (where IAS 33 applies to the Company); d. e. the amount of the adjustment relating to periods before those presented, to the extent practicable; and if retrospective application is impractical for a particular prior period, or for periods before those presented, the circumstances that led to the existence of that condition and a description of how and from when the change in accounting policy has been applied.

IAS 8.29

Page 17 of 189

DISCLOSURE MADE YES 3.5.11 When the Company has not applied a new Standard or Interpretation that has been issued but is not yet effective, has the Company disclosed: a. b. that fact known or reasonably estimable information relevant to assess the impact on the financial statements in the period of initial application. 3.5.12 Has the Company also disclosed in relation to 3.5.11 above: a. b. c. d. e. the title of the new Standard or Interpretation the nature of the impending change or changes in accounting policy; the date by which application of the Standard or Interpretation is required; the date as at which it plans to adopt the Standard or Interpretation ; and either: a discussion of the impact of the effect of the change(s) on its financial statements; or if such an impact is not known or reasonably estimable, a statement to that effect. 3.6 ERRORS IAS 8.31 IAS 8.30 NO

3.6.1

Has the material prior period errors been corrected retrospectively (except to the extent it is impracticable to determine either the period-specific effects or the cumulative effect of the error) in the first set of financial statements authorised for issue after their discovery: a. b. by restating the comparative amounts for the prior period(s) presented in which the error occurred; or when the error occurred before the earliest prior period presented, by restating the opening balances of assets, liabilities and retained equity for that period.

IAS 8.42 IAS 8.43

3.6.2

When it is impracticable to determine the period specific effects of an error on comparative information, has the Company restated the opening balances of assets, liabilities and equity for the earliest period for which retrospective restatement is practicable?

IAS 8.44

3.6.3

When it is impractical to determine the cumulative effect, at the beginning of the current period, has the Company restated the comparative information to correct the error prospectively from the earliest date practicable?

IAS 8.45

3.6.4

Has the Company disclosed the following information: a. b. c. the nature of the prior period error; the amount of the correction for each prior period presented (to the extent practicable) for each financial statement line item affected; the amount of the correction for each prior period presented (to the extent practicable) for basic and diluted earnings per share (where IAS 33 applies to the Company); d. e. the amount of the correction at the beginning of the earliest period presented where retrospective restatement is impracticable, the circumstances that led to the existence of that condition and a description of how and from when the error has been corrected. IAS 8.49

3.7 3.7.1

CHANGES IN ACCOUNTING ESTIMATES Has the effect of a change in an accounting estimate, other than a change to which 3.7.2 applies, been recognised prospectively by including it in profit or loss in: a. the period of the change, if the change affects that period only; or Page 18 of 189 IAS 8.36

DISCLOSURE MADE YES b. 3.7.2 the period of the change and future periods, if the change affects both. IAS 8.37 NO

To the extent that a change in an accounting estimate gives rise to changes in assets and liabilities, or relates to an item of equity, has it been recognised by adjusting the carrying amount of the related asset, liability or equity item in the period of the change?

3.7.3

Has the following information been disclosed for a change in accounting estimates that has an effect in the current period or is expected to have an effect in future periods: a. b. the nature of the change; and the amount of the change.

IAS 8.39

3.7.4

If the amount of the effect in future periods is not disclosed because estimating it is impracticable, has the Company disclosed that fact? IAS 8.40

PART II - BALANCE SHEET 1.0 1.1 INFORMATION TO BE PRESENTED ON THE FACE OF THE BALANCE SHEET As a minimum, has the face of the balance sheet included line items which present the following amounts: a. property, plant and equipment? b. investment property; c. intangible assets; d. financial assets (excluding amounts shown under e, h and i); e. investments accounted for using the equity method; f. biological assets; g. inventories; h. trade and other receivables; i. cash and cash equivalents; j. trade and other payables; k. provisions; l. financial liabilities (excluding amounts shown under j and k); m. liabilities and assets for current tax; n. deferred tax liabilities and deferred tax assets; o. minority interest, presented within equity; and p. issued capital and reserves attributable to equity holders of the parent. 1.2 Have the following line items been included on the face of the balance sheet: a b total assets classified as held for sale and assets included in disposal groups classified as held for sale in accordance with IFRS 5; and liabilities included in disposal groups classified as held for sale in accordance with IFRS 5. IAS 1.68A IFRS 5.38 IAS 1.68

Page 19 of 189

DISCLOSURE MADE YES 1.3 If the Company does not present separately current and non-current assets, and current and non-current liabilities on the face of its balance sheet, does it present all assets and liabilities broadly in order of liquidity. 1.4 If the Company presents separately current and non-current assets, and current and non-current liabilities on the face of its balance sheet, has the Company classified: a an asset as current when it: is expected to be realised in, or is intended for sale or consumption in, the Companys normal operating cycle; is held primarily for the purpose of being traded; is expected to be realised within twelve months after the balance sheet date; or is cash or a cash equivalent asset unless it is restricted from being exchanged or used to settle a liability for at least twelve months after the balance sheet date. IAS 1.57 IAS 1.51 NO

Have all other assets been classified as non-current, including intangible assets?

IAS 1.57

The term non-current includes tangible, intangible and financial assets of a long-term nature. This checklist does not prohibit the use of alternative descriptions as long as the meaning is clear Current assets also include assets held primarily for the purpose of being traded (financial assets within this category are classified as held for trading in accordance with IAS 39 Financial Instruments: Recognition and Measurement) and the current portion of non-current financial assets. b a liability as current when it: is expected to be settled in the Companys normal operating cycle; is held primarily for the purpose of being traded; is due to be settled within twelve months after the balance sheet date; or is not attached to an unconditional right to defer settlement of the liability for at least twelve months after the balance sheet date.

IAS 1.58

IAS 1.59

IAS 1.60

Have all other liabilities been classified as non-current? c its financial liabilities as current, when they are due to be settled within twelve months after the balance sheet date, even if: the original term was for a period longer than twelve months; and an agreement to refinance, or to reschedule payments, on a long-term basis is completed after the balance sheet date and before the financial statements are authorised for issue. d its long-term liability as current, where a Company breaches an undertaking under a long term loan agreement on or before the balance sheet date with the effect that the liability becomes payable on demand, even if: the lender has agreed, after the balance sheet date and before the authorisation of the financial statements for issue, not to demand payment as a consequence of the breach.

IAS 1.60 IAS 1.63

IAS 1.65

Page 20 of 189

DISCLOSURE MADE YES NO

However, the liability is classified as non-current if the lender agreed by the balance sheet date to provide a period of grace ending at least twelve months after the balance sheet date, within which the entity can rectify the breach and during which the lender cannot demand immediate repayment. 1.5 When the Company makes a distinction between current and non-current assets and liabilities in its financial statements, has it presented deferred tax assets and deferred tax liabilities as non-current items.

IAS 1.66

IAS 1.70

1.6

In respect of loans classified as current liabilities, if the following events occur between the balance sheet date and the date the financial statements are authorised for issue, those events qualify for disclosure as non-adjusting events in accordance with IAS 10 Events after the Balance Sheet Date: (a) (b) (c) refinancing on a long-term basis; rectification of a breach of a long-term loan agreement; and the receipt from the lender of a period of grace to rectify a breach of a long-term loan agreement ending at least twelve months after the balance sheet date.

IAS 1.67

1.7

Have additional line items, headings and subtotals been presented on the face of the balance sheet when a standard requires it, or when such presentation is necessary to present fairly the Companys financial position? IAS 1.69 IAS 28.38

1.8

Has the Company classified investments in associates accounted for using the equity method as non-current asset?

1.9

Has the Company classified government grants related to assets (including non-monetary grants at fair value) either: (a) as deferred income; or (b) as a deduction in arriving at the carrying amount of the asset.

IAS 20.24

1.10

Has the Company disclosed, either on the face of the balance sheet or in the notes, further sub-classifications of the line items presented, classified in a manner appropriate to the Companys operations? Each item is sub-classified, when appropriate, by its nature. IAS 1.74 IFRS 5.38 IFRS 5.39

1.11

Has the Company disclosed separately the major classes of assets and liabilities classified as held for sale either on the face of the balance sheet or in the notes, except if the disposal group is a newly acquired subsidiary that meets the criteria to be classified as held for sale at acquisition.

1.12

Are assets and liabilities presented separately and not offset (items may only be offset when this is required or permitted by a Standard or Interpretation). IAS 1.32 IAS 1.52

1.13

Whichever method of presentation is adopted, each asset and liability line item that combines amounts expected to be recovered or settled within no more than twelve months after the balance sheet date and more than twelve months after the balance sheet date, has the Company disclosed for the amount expected to be recovered or settled after more than twelve months.

Page 21 of 189

DISCLOSURE MADE YES 2.0 2.1 SHARE CAPITAL Is the share capital classified under the following sub-heads, namely: 2.1.1 Issued, subscribed and paid up capital, distinguishing in respect of each class between:(a) (b) shares allotted for consideration paid in each; shares allotted for consideration other than cash, showing separately shares issued against property and others (to be specified); and (c) 2.2 shares allotted as bonus shares. IAS 1.76 Sch II.6(i) NO

For each class of share capital (or for each category of equity interest for an entity without share capital), has the following been disclosed either on the face of the balance sheet or in the notes:

a) b) c) d) e)

the number of shares authorized? the number of shares issued and fully paid, and issued but not fully paid? par value per share, or that the shares have no par value; reconciliation of number of shares outstanding at the beginning and end of the year? the rights, preferences and restrictions attaching to each class of share capital including restrictions on the distribution of dividends and the repayment of capital?

f)

shares in the Company held by the Company itself or by subsidiaries or associates of the Company?

g)

shares reserved for issuance under options and sales contracts, including the terms and amounts?

2.3

Where a Company issues shares at a premium, whether in cash or otherwise, has the sum equal to the aggregate amount or the value of the premiums on those shares shall be transferred to an account, to be called "the share premium account"?

Co.Ord. Sec83

2.4

Has the Company disclosed any major ordinary share transactions and potential ordinary share transactions after the balance sheet date (IAS 33 Earnings per Share requires an entity to disclose a description of such transactions, other than when such transactions involve capitalisation or bonus issues, share splits or reverse share splits all of which are required to be adjusted under IAS 33); as non adjusting events after the balance sheet date.

IAS 10.22(f)

2.5

Has the Company disclosed information that enables users of its financial statements to evaluate the Companys objectives, policies and processes for managing capital?

IAS 1.124A

Page 22 of 189

DISCLOSURE MADE YES 2.6 To comply with paragraph 124A, has the Company disclosed the following: (a) qualitative information about its objectives, policies and processes for managing capital, including (but not limited to): (i) (ii) a description of what it manages as capital; when a Company is subject to externally imposed capital requirements, the nature of those requirements and how those requirements are incorporated into the management of capital; and (iii) (b) how it is meeting its objectives for managing capital. summary quantitative data about what it manages as capital. Some entities regard some financial liabilities (eg some forms of subordinated debt) as part of capital. Other entities regard capital as excluding some components of equity (eg components arising from cash flow hedges). (c) (d) (e) any changes in (a) and (b) from the previous period. whether during the period it complied with any externally imposed capital requirements to which it is subject. when the entity has not complied with such externally imposed capital requirements, the consequences of such non-compliance. Are these disclosures based on the information provided internally to the Company's key management personnel? IAS 1.124B NO

2.7

When an aggregate disclosure of capital requirements and how capital is managed would not provide useful information or distorts a financial statement users understanding of a Companys capital resources, has the Company disclosed separate information for each capital requirement to which the Company is subject?

IAS 1.124C

2.8

Has the Company provided disclosure in accordance with IAS 24, if the Company reacquires its own shares from related parties?

IAS 32.34

2.9

Has the Company disclosed the buy back of shares (purchase) in the balance sheet as reduction of share capital and other necessary details including the mode and purchase price provided in the explanatory notes of the accounts?

Co.(Buy back of shares) Rules, 1999 IAS 32.39

2.10

Has the amount of transaction costs accounted for as a deduction from equity in the period been disclosed separately under IAS 1?

2.11

Has the related amount of income taxes associated with transaction costs accounted for as a deduction from equity been included in the aggregate amount of current and deferred tax credited or charged to equity that is disclosed under IAS 12?

IAS 32.39

2.12

Members' shares in co-operative entities and similar instruments (IFRIC 2) The contractual right of the holder of a financial instrument (including members shares in co-operative entities) to request redemption does not, in itself, require that financial instrument to be classified as a financial liability. Rather, the Company must consider all of the terms and conditions of the financial instrument in determining its classification as a financial liability or equity. Those terms and conditions include relevant local laws, regulations and the Companys governing charter that can impose various types of prohibitions on the redemption of members shares. IFRIC 2.5 IFRIC 2.8

Page 23 of 189

DISCLOSURE MADE YES 2.13 When a change in the redemption prohibition of members shares leads to a transfer between financial liabilities and equity, has the Company disclosed separately the amount, timing and reason for the transfer? IFRIC 2.13 NO

A Company without share capital, shall disclose information equivalent to that required in 2.2 above, showing movements during the period in each category of equity interest, and the rights, preferences and restrictions attaching to each category of equity interest. IAS 1.77

3.0 3.1 3.2

RESERVES Are the reserves, distinguished between capital reserves and revenue reserves. Has the Company disclosed a description of the nature and purpose of each reserve within owners' equity? IAS-1.76b Sch II.6(ii)

4.0 4.1 4.2

SURPLUS ON REVALUATION OF FIXED ASSETS Have fixed assets been revalued? Has the Company treated and shown surplus on revaluation of fixed assets shown in the balance-sheet of the Company after capital and reserves as specified in section 235 of the Companies Ordinance, 1984 (XLVII of 1984) and SRO 45(I)/2003 dated January 13, 2003? Sch. II Part 7 Sch II. 7 CO84 Sec. 235

4.3

If an assets carrying amount is increased as a result of a revaluation, has the increase been credited directly to surplus on revaluation of fixed assets. Has the increase been recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or CO84 Sec. 235 loss?

4.4

If an assets carrying amount is decreased as a result of a revaluation, has the decrease been recognised in profit or loss. Has the decrease been debited directly to surplus on revaluation of fixed assets to the extent of any credit balance existing in the revaluation surplus in respect of that asset? CO84 Sec. 235

4.5

Has the amount equivalent to incremental depreciation along with its tax effect been transferred from surplus on revaluation of fixed assets to equity?

4.6

Has the Company disclosed the aggregate current and deferred tax relating to items that are charged or credited to surplus on revaluation of fixed assets in respect of the said revaluation?

CO84 Sec. 235

5.0 5.1

STATEMENT OF CHANGES IN EQUITY Does the Company present the statement as a separate component of its financial statements showing:a) b) the net profit or loss for the period; each item of income and expense that, as required by other Standards, is recognised directly in equity, and the total of these items; total income and expense for the period (i.e. the sum of "a" and "b" above), showing separately the total amounts attributable to equity holders of the parent and to minority interests; IAS 1.96

c)

Page 24 of 189

DISCLOSURE MADE YES d) the cumulative effect of changes in accounting policies and corrections of errors recognised in accordance with IAS 8; e) f) the equity conversion element of a convertible debt; equity-settled share-based payment transactions. NO

IAS 32.28 IFRS 2.50

5.2

In addition to 5.1 above has the Company presented, either within the statement of changes in equity or in the notes? a) the amounts of transactions with equity holders acting in their capacity as equity holders, showing separately distributions to equity holders; IAS 1.97

b)

the balance of retained earnings at the beginning of the period and at the balance sheet date, and the changes during the period; and

c)

a reconciliation between the carrying amount of each class of contributed equity and each reserve at the beginning and the end of the period, separately disclosing each change.

IAS 1.97(c)

5.3

Has the change in the revaluation surplus arising from a change in the decommissioning, restoration and similar liability been disclosed in the statement of changes in equity as required by IAS 1?

IFRIC 1.6 d

5.4

Has the amount of transaction costs accounted for as a deduction from equity in the period disclosed separately in the notes?

IAS 32.39

5.5

Has the investors share of changes recognised directly in the associates equity been disclosed in the statement of changes in equity as required by IAS 1?

IAS 28.39

5.6

Has the Company presented separately any cumulative income or expense recognised directly in equity relating to a non-current asset (or disposal group) classified as held for sale? IFRS 5.38

5.7

Has the Company disclosed separately the aggregate current and deferred tax relating to items charged or credited to equity. It is useful to disclose the analysis by category of temporary differences? IAS-12.81(a)

5.8

Has the Company classified net exchange differences in equity as a separate component of equity and has a reconciliation of the amount of such exchange differences at the beginning and end of the period been disclosed? IAS 21.52(b) IAS 19.93B

5.9

Has the Company recognised actuarial gains and losses outside profit or loss as permitted by paragraph 93A of IAS 19 presented in a statement of changes in equity titled statement of recognised income and expense that comprises only the items specified in paragraph 96 of IAS 1?

Page 25 of 189

DISCLOSURE MADE YES 6.0 6.1 NON-CURRENT LIABILITIES Fourth Schedule Requirement 6.1.1 Has the Company classified its non-current liabilities under appropriate sub-heads, duly itemized such as: Sch II. 8(A) (i) (ii) (iii) (iv) (v) (vi) 6.1.2 long term financing; debentures; liabilities against assets subject to finance lease; long term murabaha; long term deposits; and deferred liabilities. Sch II. 8(B) NO

Have the long term loans been classified as secured and unsecured, showing separately under each class: (i) loans from banking companies and other financial institutions, other than those as specified in clause (ii) below; (ii) (iii) loans from related parties; and other loans.

6.1.3 6.2

Have long-term deposits been classified according to their nature?

Sch II. 8(C)

Lease Disclosure by Lessee Finance Lease 6.2.1 Have the following disclosures been made for finance lease : a) b) for each class of asset, the net carrying amount at the balance sheet date; a reconciliation between the total of future minimum lease payments at the balance sheet date, and their present value. In addition, a Company should disclose the total of future minimum lease payments at the balance sheet date, and their present value, for each of the following periods: i) ii) iii) c) d) not later than one year? later than one year and not later than five years? later than five years? IAS 17.31

contingent rents recognized in income for the period? the total of future minimum sublease payments expected to be received under non-cancelable subleases at the balance sheet date? and

e)

a general description of the lessee's significant leasing arrangements including, but not limited to the following: i) the basis on which contingent rent payments are determined?

Page 26 of 189

DISCLOSURE MADE YES ii) the existence and terms of renewal or purchase options and escalation clauses? and iii) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing? In addition, the requirements for disclosure in accordance with IAS 16, IAS 36, IAS 38, IAS 40 and IAS 41 apply to lessees for assets leased under finance leases. Lease Payments under Operating Leases 6.2.2 Has the Company (the lessee ) made the following disclosures for operating leases: (a) the total of future minimum lease payments under non cancelable operating leases for each of the following periods: i) not later than one year; ii) later than one year and not later than five years; iii) later than five years; (b) the total of future minimum sublease payments expected to be received under non cancelable subleases at the balance sheet date; (c) lease and sublease payments recognized as expense in the period, with separate amounts for minimum lease payments, contingent rents, and sublease payments; (d) a general description of the lessee's significant leasing arrangements including, but not limited to, the following: (i) the basis on which contingent rent payments are determined; (ii) the existence and terms of renewal or purchase options and escalation clauses; and (iii) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing. 6.2.3 Sale and leaseback transactions Does the description of material leasing arrangements include disclosure of unique or unusual provisions of the agreement or terms of the sale and leaseback transactions? 6.2.4 Substance of transactions involving the legal form of a lease All aspects of an arrangement that does not, in substance, involve a lease under IAS 17 shall be considered in determining the appropriate disclosures that are necessary to understand the arrangement and the accounting treatment adopted. When the Company has entered into arrangements that are leases in SIC 27.10 SIC 27.11 IAS 17.65 IAS 17.35 IAS 17.32 NO

Page 27 of 189

DISCLOSURE MADE YES form but not in substance; has the Company disclosed, separately for each arrangement or each class of arrangements, the following information in each period that an arrangement exists: a. a description of the arrangement including: the underlying asset and any restrictions on its use; the life and other significant terms of the arrangement; the transactions that are linked together, including any options. b c. d. the accounting treatment applied to any fee received; the amount of fees recognised as income in the period; and the line item of the income statement in which the fee income is included. NO

6.2.5 Determining whether an arrangement contains a lease (IFRIC 4) IFRIC 4 provides guidance for determining whether an arrangement, that does not take the legal form of a lease but conveys a right to use an asset is, or contains, a lease that should be accounted for in accordance with IAS 17. For the purpose of applying the requirements of IAS 17, payments and other consideration required by the arrangement have to be separated. In some cases, it will be impractible to reliably separate the payments for the lease from payments for other elements in the arrangement. 6.2.6 If in case of an operating lease the Company is a purchaser and concludes that it is impracticable to reliably separate the payments for the lease from payments for other elements in the arrangement, has the Company: a. treated all payments under the arrangement as lease payments for the purpose of complying with the disclosure requirements of IAS 17, but: i. disclosed those payments separately from minimum lease payments of other arrangements that do not include payments for non-lease elements, and ii. stated that the disclosed payments also include payments for non-lease elements in the arrangement. 6.3 Deferred Liabilities and Employee Benefits 6.3.1 Has the Company distinguished and disclosed the following separately: a) deferred taxation b) deferred liabilities for retirement and other staff benefits ; and c) any other deferred liability (specifying separately material items) 6.3.2 Has the Company disclosed information that enables users of the financial statements to evaluate the nature of its defined benefit plans and the financial effects of changes in those plans during the period. 6.3.3 Has the Company disclosed the following about defined benefit plans? Sch II. 8(A)(vi) IFRIC 4.15 IFRIC 4.12 IFRIC 4.13

IAS 19.120 IAS 19.120A

a.

the Company's accounting policy for recognizing actuarial gains and losses?

Page 28 of 189

DISCLOSURE MADE YES b. c. a general description of the type of plan? a reconciliation of opening and closing balances of the present value of the defined benefit obligation showing separately, if applicable, the effects during the period attributable to each of the following: - current service cost, - interest cost, - contributions by plan participants, - actuarial gains and losses, - foreign currency exchange rate changes on plans measured in a currency different from the Companys presentation currency, - benefits paid, - past service cost, - business combinations, - curtailments and - settlements. d. an analysis of the defined benefit obligation into amounts arising from plans that are wholly unfunded and amounts arising from plans that are wholly or partly funded. e. a reconciliation of the opening and closing balances of the fair value of plan assets and of the opening and closing balances of any reimbursement right recognised as an asset in accordance with IAS 19.104A showing separately, if applicable, the effects during the period attributable to each of the following: - expected return on plan assets, - actuarial gains and losses, - foreign currency exchange rate changes on plans measured in a currency different from the Companys presentation currency, - contributions by the employer, - contributions by plan participants, - benefits paid, - business combinations and - settlements. f. a reconciliation of the present value of the defined benefit obligation in (c) and the fair value of the plan assets in (e) to the assets and liabilities recognised in the balance sheet, showing at least - the net actuarial gains or losses not recognised in the balance sheet (see IAS 19.92); - the past service cost not recognised in the balance sheet (see IAS 19.96); - any amount not recognised as an asset, because of the limit in IAS 19.58(b); - the fair value at the balance sheet date of any reimbursement right recognised as an asset in accordance with IAS 19.104A (with a brief description of the link between the reimbursement right and the related obligation); and - the other amounts recognised in the balance sheet. NO

Page 29 of 189

DISCLOSURE MADE YES g. the total expense recognised in profit or loss for each of the following, and the line item(s) in which they are included: i) current service cost; ii) interest cost; iii) expected return on plan assets; iv) expected return on any reimbursement right recognised as an asset in accordance with IAS 19.104A; v) actuarial gains and losses; vi) past service cost; vii) the effect of any curtailment or settlement; and viii) the effect of the limit in IAS 19.58(b). h the total amount recognised in the statement of recognised income and expense for each of the following: - actuarial gains and losses; and - the effect of the limit in IAS 19.58(b). i. for entities that recognise actuarial gains and losses in the statement of recognised income and expense in accordance with IAS 19.93A, the cumulative amount of actuarial gains and losses recognised in the statement of recognised income and expense. j. for each major category of plan assets, which shall include, but is not limited to, equity instruments, debt instruments, property, and all other assets, the percentage or amount that each major category constitutes of the fair value of the total plan assets. k. the amounts included in the fair value of plan assets for: - each category of the Companys own financial instruments; and - any property occupied by, or other assets used by, the Company. l. a narrative description of the basis used to determine the overall expected rate of return on assets, including the effect of the major categories of plan assets. m. the actual return on plan assets, as well as the actual return on any reimbursement right recognised as an asset in accordance with ISA 19.104A n. the principal actuarial assumptions used (in absolute terms and not just as a margin between different percentages or other variables) as at the balance sheet date, including, when applicable: NO

- the discount rates; - the expected rates of return on any plan assets for the periods presented in the financial statements; - the expected rates of return for the periods presented in the financial statements on any reimbursement right recognised as an asset in accordance with IAS 19.104A; - the expected rates of salary increases (and of changes in an index or other variable specified in the formal or constructive terms of a plan as the basis for future benefit increases);

Page 30 of 189

DISCLOSURE MADE YES - medical cost trend rates; and - any other material actuarial assumptions used. o. the effect of an increase of one percentage point and the effect of a decrease of one percentage point in the assumed medical cost trend rates on: - the aggregate of the current service cost and interest cost components of net periodic post-employment medical costs; and - the accumulated post-employment benefit obligation for medical costs. p. the amounts for the current annual period and previous four annual periods of: - the present value of the defined benefit obligation, the fair value of the plan assets and the surplus or deficit in the plan; and - the experience adjustments arising on: (A) the plan liabilities expressed either as (1) an amount or (2) a percentage of the plan liabilities at the balance sheet date; and (B) the plan assets expressed either as (1) an amount or (2) a percentage of the plan assets at the balance sheet date. q. the employers best estimate of contributions expected to be paid to the plan during the annual period beginning after the balance sheet date. 6.3.4 When the Company has more than one defined benefit plan, has the disclosures made in total, separately for each plan, or in such groupings as are considered to be the most useful. It may be useful to distinguish groupings by criteria such as the following: a. b. the geographical location of the plans, for example, by distinguishing domestic plans from foreign plans; or whether plans are subject to materially different risks, for example, by distinguishing flat salary pension plans from final salary pension plans and from post-employment medical plans. 6.3.5 When the Company provides disclosures in total for a grouping of defined benefit plans, are such disclosures provided in the form of weighted averages or of relatively narrow ranges? 6.3.6 Has the Company offset an asset relating to one plan against a liability relating to another plan when and only when the Company: a. has a legally enforceable right to use a surplus in one plan to settle obligations under the other plan; and b. intends either to settle the obligations on a net basis, or realise the surplus in one plan and settle the obligation under the other plan simultaneously. IAS 19.122 NO

IAS 19.122

IAS 19.116

Multi employer Plan 6.3.7 For multi-employer plans that are accounted for as defined benefit plans, has the Company disclosed the information required by IAS 19.120A? 6.3.8 Has the following been disclosed for a multi-employer plan that is treated as a defined contribution plan when sufficient information is not available to use defined benefit accounting:

IAS-19.29(b)

IAS-19.30(b,c)

a.

the fact that the plan is a defined benefit plan?

Page 31 of 189

DISCLOSURE MADE YES b. the reason why sufficient information is not available to enable the Company to account for the plan as a defined benefit plan? c. to the extent that a surplus or deficit in the plan may affect the amount of future contributions disclosed in addition: (i) any available information about that surplus or deficit? (ii) the basis used to determine that surplus or deficit? (iii) the implications, if any, for the Company? Defined Benefit Plans that Share Risks between Various Entities under Common Control 6.3.9 When a Company participates in a defined benefit plan that shares risks between various entities under common control, Has the Company made the following disclosure in its separate or individual financial statements: a. the contractual agreement or stated policy for charging the net defined benefit cost or the fact that there is no such policy. b. c. the policy for determining the contribution to be paid by the Company. if the Company accounts for an allocation of the net defined benefit cost in accordance with IAS 19.34A, all the information about the plan as a whole in accordance with IAS 19.120-121 d. if the Company accounts for the contribution payable for the period in accordance with IAS 19.34A, the information about the plan as a whole required in accordance with IAS 19.120A (b) to (e), (j), (n), (o), (q) and 19.121 only. e. participation by a parent or subsidiary in a defined benefit plan that shares risks between group entities which is a transaction between related parties Defined contribution plans 6.3.10 Has the Company disclosed the amount recognised as an expense for defined contribution plan? 6.3.11 Has the Company disclosed contributions to defined contribution plans for key management personnel when required by IAS 2? 6.4 Deferred Taxation 6.4.1 Has the Company disclosed the amount of a deferred tax asset and the nature of the evidence supporting its recognition, when: a. the utilization of the deferred tax asset is dependent on future taxable profits in excess of the profits arising from the reversal of existing taxable temporary differences? And b. the Company has suffered a loss in either the current or preceding period in the tax jurisdiction to which the deferred tax asset relates? 6.4.2 Has the amount of unrecognised deferred tax liabilities associated with investments in Page 32 of 189 IAS 12.87 IAS 12.82 IAS 19.47 IAS 19.46 IAS 24.20 IAS 19.34B NO

DISCLOSURE MADE YES subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilities have not been recognised, been disclosed when this disclosure has not required undue cost or effort? NO

6.4.3

Has the Company disclosed any tax-related contingent liabilities and contingent assets in accordance with IAS 37?

IAS 12.88

7.0

CURRENT LIABILITIES

7.1

Have the current liabilities and provisions been classified under the following sub-heads, so far as these are appropriate to the Company's business: 7.1.1 Trade and other payables, classified as: (a) (b) (c) (d) (e) (f) (g) creditors; murabaha; accrued liabilities; advance payments; payable to employee retirement benefit funds; unpaid and unclaimed dividend; and others ( to be specified, if material);

(Sch II. 9(A))

7.1.2 Interest, profit, return or mark-up accrued on loans and other payables; 7.1.3 Short term borrowings classified as: (a) short-term borrowings, distinguishing between secured and unsecured and between loans taken from: (i) banking companies and other financial institutions other than related parties; (ii) related parties; and (iii) others; short-term running finance, distinguishing between secured and unsecured;

(b)

7.1.4 current portion of long term borrowings; 7.1.5 current portion of long term murabaha; and 7.1.6 provision for taxation, showing separately income tax and other taxes. Provisions 7.2 For each class of provisions, has the Company disclosed: IAS 37.84

a)

the carrying amount at the beginning and end of the period?

b)

additional provisions made in the period, including increases to existing provisions?

Page 33 of 189

DISCLOSURE MADE YES c) amount used (i.e. incurred and charged against the provision) during the period? NO

d)

unused amounts reversed during the period?

e)

the increase during the period in the discounted amount arising from the passage of time and the effect of any change in the discount rate?

7.3

Has the Company disclosed the following for each class of provisions: a) a brief description of the nature of the obligation and the expected timing of any resulting outflows of economic benefits? b) an indication of the uncertainties about the amount or timing of those outflows along with major assumptions made concerning future events? c) the amount of any expected reimbursement, stating the amount of any asset that has been recognized for that expected reimbursement.

IAS 37.85

7.4

In extremely rare cases, disclosure of some or all of the information required by 7.2-7.3 above can be expected to prejudice seriously the position of the entity in a dispute with other parties on the subject matter of the provision, contingent liability or contingent asset. In such cases, has the Company disclosed the general nature of the dispute, together with the fact , and reason why, the information has not been disclosed?

IAS 37.92

7.5

If an estimate of an amount reported in an interim period is changed significantly during the final interim period of the financial year but a separate financial report is not published for that final interim period, has the nature and amount of that change in estimate been disclosed in a note to the annual financial statements for that financial year?

IAS 38.26

8.00 8.1

CONTINGENCIES Whether a footnote to the balance sheet has been added, showing separately, 8.1.1 aggregate amount of any guarantees given by the Company on behalf of any related party and where practicable, the general nature of the guarantee; 8.1.2 where practicable the aggregate amount or estimated amount, if it is material, of contracts for capital expenditure, so far as not provided for or a statement that such an estimate can not be made; Has the following been added as a footnote to the balance sheet, separately:a. aggregate amount of any guarantees given by the Company on behalf of any related party and where applicable, the general nature of the guarantee? b. where applicable the aggregate amount or estimated amount, if it is material, of contracts for capital expenditure, so far as not provided for or a statement that such an estimate can not be made? Sch.10(ii) Part II Sch.10(i) Part II Sch ll.10 (ii) Sch II . 10(i)

Page 34 of 189

DISCLOSURE MADE YES c. Any other commitment, if the amount is material, indicating the general nature of the commitment? 8.2 Unless the possibility of any outflow in settlement is remote, has the Company disclosed for each class of contingent liability at the balance sheet date a. b. an estimate of its financial effects? an indication of the uncertainties relating to the amount or timing of any outflow? c. 8.2A the possibility of any reimbursement? IAS 37.88 IAS 37.86 Sch.10(iii) Part II NO

Where a provision and a contingent liability arise from the same set of circumstances, has the Company made the disclosures required by paragraphs 7.2-7.3 and 8.2 in a way that shows the link between the provision and the contingent liability?

8.3

Where an inflow of economic benefits is probable, has a brief description of the nature and estimate of the contingent assets at the balance sheet date been made? IAS 37.89

8.4

Has the fact been stated where any of the above information required by IAS 37.86 and 37.89 not disclosed because it is not practicable to do so? IAS 37.91 IAS 37.92

8.5

In extremely rare cases, disclosure of some or all of the information required by IAS 37.84 - 37.89 can be expected to prejudice seriously the position of the Company in a dispute with other parties on the subject matter of the provision, contingent liability or contingent asset. In such cases has the Company only disclosed the general nature of the dispute, together with the fact that, and reason, why this information has not been disclosed.

8.6

Has the Company disclosed any contingent liabilities and contingent assets in accordance with IAS 37- Provisions, Contingent Liabilities and Contingent Assets. Contingent liabilities and contingent assets may arise from such items as : warranty costs, claims, penalties or possible losses. unresolved disputes with the taxation authorities. In the context of a multi-employer plan, a contingent liability may arise from, for example: a. actuarial losses relating to other participating entities because each entity that participates in a multi-employer plan shares in the actuarial risks of every other participating entity; or b. any responsibility under the terms of a plan to finance any shortfall in the plan if other entities cease to participate. contingent liabilities at the acquisition date in accordance with IFRS 3

IAS 11.45 IAS 18.36 IAS 11.45 & 18.36 IAS-12.88 IAS-19.32B

IFRS-3.37 IFRS-3.50

8.7

Has the contingent liabilities recognised separately as part of allocating the cost of a business combination are excluded from the scope of IAS 37. However, has the acquirer disclosed for those contingent liabilities the information required to be disclosed by IAS 37 for each class of provision?

Page 35 of 189

DISCLOSURE MADE YES 8.6 Has the Company disclosed contingent liabilities arising from: a. b. post-employment benefit obligations? termination benefits (e.g. due to the uncertainty about the number of employees who will accept an offer of termination benefits)? 8.7 Has the Company disclosed, as required by IAS 1, the nature and amount of termination benefits if material? 8.8 Has the Company as a venturer disclosed the aggregate amount of contingencies separately from the amount of the other contingencies: a. Any contingencies that the Company (venturer) has incurred in relation to its interest in joint ventures and its share in each of the contingencies which have been incurred jointly with other venturers? b. Its share of the contingencies of the joint ventures themselves for which it is contingently liable; and c. Those contingencies that arise because the (Company) venturer is contingently liable for the liabilities of the other venturers of a joint venture? 9.0 9.1 COMMITMENTS Has a footnote to the balance sheet been added, showing separately : a. where practicable the aggregate amount or estimated amount, if it is material, of contracts for capital expenditure, so far as not provided for or a statement that such an estimate can not be made; b. any other commitments, if the amount is material indicate the general nature of commitment. 9.2 Has the Company as a venturer disclosed the aggregate amount of commitments in respect of its interest in joint ventures separately from other commitments: 9.2.1 Any capital commitments of the venture in relation to its interests in joint ventures and its share in the capital commitments that have been incurred jointly with other venturers? and 9.2.2 9.3 Its share of the capital commitments of the joint venturer themselves? IAS 31.55 Sch II . 10(iii) Sch II . 10(ii) IAS 31.54 IAS 19.142 IAS-19.125 IAS-19.141 NO

Has the Company disclosed the amount of commitments for the acquisition of:a. b. property, plant and equipment? intangible assets? IAS 16.74c IAS 38.122(e) IAS 40.75(h)

9.4

Has the Company disclosed contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancements?

Page 36 of 189

DISCLOSURE MADE YES 10.0 EVENTS AFTER THE BALANCE SHEET DATE NO

10.1

Has the Company disclosed in the notes: a) the amount of dividends proposed or declared before the financial statements were authorised for issue but not recognised as a distribution to equity holders during the period; IAS 1.125 b) c) the related amount per share; and the amount of any cumulative preference dividends not recognised. IAS 1.125 IAS 10.21

10.2

Is following information disclosed for the material events occurring after the balance sheet date which do not affect the condition of assets or liabilities at the balance sheet date: a) b) the nature of event? an estimate of the financial effect, or a statement that such an estimate cannot be made?

10.3

Has the Company updated disclosure in respect of the information received after the balance sheet date about conditions that existed at the balance sheet date? IAS 10.19

11.0 11.1

FIXED ASSETS (OTHER THAN INVESTMENTS) Property, Plant & Equipment 11.1.1 Have the fixed assets, other than investments, been classified under appropriate sub-heads; duly itemised such as:(i) Property, plant and equipment: (a) land (distinguishing between free-hold and leasehold); (b) buildings (distinguishing between buildings on free-hold land and those on leasehold land); (c) plant and machinery; (d) furniture and fittings; (e) vehicles; (f) office equipment; (g) capital work in progress indicating significant item wise details; (h) development of property; and (i) others (to be specified). (ii) Intangible: (a) goodwill; (b) brands names; (c) computer software; (d) licences and franchises; (e) patents, copyright, trade marks and designs; (f) intangible assets under development; and (g) others (to be specified) Sch II.1

Page 37 of 189

DISCLOSURE MADE YES Whether the financial statements disclosed, for each class of property, plant and equipment, 11.1.2 in the following manner: a) b) c) d) the measurement basis used for determining the gross carrying amount the depreciation methods used; the useful lives or the depreciation rates used; the gross carrying amount and the accumulated depreciation at the beginning and end of the period, aggregated with accumulated impairment losses. a reconciliation of the carrying amount at the beginning and end of the period showing: additions; IAS 16.73 NO

e) i)

ii) iii) iv)

assets classified as held for sale or included in a disposal group classified as held for sale in accordance with IFRS 5 and other disposals; acquisitions through business combinations; increases or decreases during the period resulting from revaluations and from impairment losses recognized or reversed directly in equity under IAS 36 Impairment of Assets (if any);

v) vi)

impairment losses recognized in income statement; impairment losses reversed in income statement;

vii) viii)

depreciation;

the net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity; other movements.

ix)

Examples of other movements: - the amount of borrowing costs capitalized during the period - the capitalization rate used to determine the amount of borrowing costs eligible for capitalization 11.1.3 Whether the financial statements disclosed: IAS 23.29(c) IAS 16.74 IAS 23.29(b)

a.

the existence and amounts of restrictions on title, and property, plant and equipment pledged as security for liabilities;

b.

the amount of expenditures recognised in the carrying amount of an item of property, plant and equipment in the course of its construction;

c.

if it is not disclosed separately on the face of the income statement, the Page 38 of 189

DISCLOSURE MADE YES amount of compensation from third parties for items of property, plant and equipment that were impaired, lost or given up that is included in profit or loss. 11.1.4 When items of property, plant and equipment are stated at revalued amounts, have the following been disclosed: a. b. c. d. the effective date of the revaluation; whether an independent valuer was involved; the methods and significant assumptions applied in estimating the items fair values; the extent to which the items fair values were determined directly by reference to observable prices in an active market or recent market transactions on arms length terms or were estimated using other valuation techniques; e. the carrying amount of each class of property, plant and equipment that would have been included in the financial statements had the assets been carried under the cost model f. the revaluation surplus, indicating the movement for the period and any restrictions on the distribution of the balance to shareholders. IAS 16.77 NO

11.1.5 Has the following additional information been disclosed, if found relevant to the needs of users: a. b. the carrying amount of temporarily idle property, plant and equipment; the gross carrying amount of any fully depreciated property, plant and equipment that is still in use; c. the carrying amount of property, plant and equipment retired from active use and not classified as held for sale as per IFRS 5; and d. when the cost model is used, the fair value of property, plant and equipment when this is materially different from the carrying amount. 11.1.6 Are the tax effects of revaluation disclosed? 11.1.7 Has the Company disclosed the effects of taxes on income, if any, resulting from the revaluation of property, plant and equipment in accordance with IAS 12? 11.2 Assets subject to finance lease

IAS 16.79

IAS 12.20

IAS 16.42

11.2.1 Has the Company disclosed the net carrying amount of each class of asset subject to finance lease as at the balance sheet date?

IAS-17.31a

Page 39 of 189

DISCLOSURE MADE YES 11.3 Impairment of assets 11.3.1 Have the following been disclosed if an impairment loss for an individual asset (or cash-generating unit) recognized or reversed during the period is material to the financial statements of the Company as a whole:a. the events and circumstances that led to the recognition or reversal of the impairment loss b. c. the amount of the impairment loss recognized or reversed for an individual asset: (i) the nature of the asset (ii) the segment to which the asset belongs (based on primary format) as defined in IAS 14 d. for a cash-generating unit: (i) a description of the cash generating unit (such as whether it is a product line, a plant, a business operation, a geographical area, a reportable segment or other as defined in IAS 14. (ii) the amount of the impairment loss recognized or reversed: by class of assets by reportable segment based on the Companys primary format as defined in IAS 14 (iii) if the aggregation of assets for identifying the cash-generating unit has changed since the previous estimate of the cash-generating unit's recoverable amount, the Company should describe the current and former way of aggregating assets and the reasons for changing the way the cash-generating unit is identified; e. whether the recoverable amount is its fair value less cost to sell or its value in use f. if recoverable amount is net selling price, the basis used to determine fair value less cost to sell (e.g. whether it was determined by reference to an active market or in some other way) g. if recoverable amount is value in use, the discount rates used in current estimate and previous estimate (if any) of value in use Note: The disclosures in this section relating to segments are applicable to those companies that apply IAS 14. 11.3.2 Has the Company assessed the indication about the impairment of each class of assets. IAS 36.9 IAS-36.130 NO

Page 40 of 189

DISCLOSURE MADE YES 11.3.3 If the answer to 11.3.2 is "YES" have the following disclosures been made in the financial statement for each class of assets: a. the amount of impairment losses recognized in the income statement during the period? b. the amount of reversals of impairment losses recognized in the income statement? c. the amount of impairment losses on revalued assets recognized directly in equity during the period? d. the amount of reversals of impairment losses revalued assets recognized directly in equity during the period? 11.3.4 If the Company reports segment information in accordance with IAS 14 has it disclosed the following for each reportable segment based on a Companys primary reporting format (as defined in IAS 14): a. the amount of impairment losses recognised in profit or loss and directly in equity during the period; and b. the amount of reversals of impairment losses recognised in profit or loss and directly in equity during the period. 11.3.5 When no information is disclosed in accordance with 11.3.1, has the Company disclosed the following information for the aggregate impairment losses and the aggregate reversals of impairment losses recognised during the period: a. the main classes of assets affected by impairment losses and the main classes of assets affected by reversals of impairment losses. b. the main events and circumstances that led to the recognition of these impairment losses and reversals of impairment losses. 11.3.6 Has the Company disclosed the assumptions used to determine the recoverable amount of assets (cash-generating units) during the period. 11.3.7 Has the Company disclosed the following information for each cash-generating unit (group of units) for which the carrying amount of goodwill or intangible assets with indefinite useful lives allocated to that unit (group of units) is significant in comparison with the Companys total carrying amount of goodwill or intangible assets with indefinite useful lives: a. b. the carrying amount of goodwill allocated to the unit (group of units); the carrying amount of intangible assets with indefinite useful lives allocated to the unit (group of units); c. the basis on which the units (group of units) recoverable amount has been determined (i.e. value in use or fair value less costs to sell); IAS 36.134 IAS 36.132 IAS 36.131 IAS 36.129 IAS 36.126 NO

Page 41 of 189

DISCLOSURE MADE YES d. if the units (group of units) recoverable amount is based on value in use: a description of each key assumption on which management has based its cash flow projections for the period covered by the most recent budgets/forecasts; a description of managements approach to determining the value(s) assigned to each key assumption, whether those value(s) reflect past experience or, if appropriate, are consistent with external sources of information, and, if not, how and why they differ from past experience or external sources of information; the period over which management has projected cash flows based on financial budgets/forecasts approved by management and, when a period greater than five years is used for a cash-generating unit (group of units), an explanation of why that longer period is justified; the growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts; the justification for using any growth rate that exceeds the long-term average growth rate for the products, industries, or country or countries in which the Company operates, or for the market to which the unit (group of units) is dedicated; and the discount rate(s) applied to the cash flow projections e. if the units (group of units) recoverable amount is based on fair value less costs to sell, the methodology used to determine fair value less costs to sell. If fair value less costs to sell is not determined using an observable market price for the unit (group of units), the following information shall also be disclosed: a description of each key assumption on which management has based its determination of fair value less costs to sell; and a description of managements approach to determining the value(s) assigned to each key assumption, whether those value(s) reflect past experience or, if appropriate, are consistent with external sources of information, and, if not, how and why they differ from past experience or external sources of information; and f. if a reasonably possible change in a key assumption on which management has based its determination of the units (group of units) recoverable amount would cause the units (group of units) carrying amount to exceed its recoverable amount: the amount by which the units (group of units) recoverable amount exceeds its carrying amount; the value assigned to the key assumption; and the amount by which the value assigned to the key assumption must change, after incorporating any consequential effects of that change on the other variables used to measure recoverable amount, in order for the units (group of units) recoverable amount to be equal to its carrying amount. NO

Page 42 of 189

DISCLOSURE MADE YES 11.3.8 Where some or all of the carrying amount of goodwill or intangible assets with indefinite useful lives is allocated across multiple cash-generating units (groups of units), and the amount so allocated to each unit (group of units) is not significant in comparison with the Companys total carrying amount of goodwill or intangible assets with indefinite useful lives, has the Company disclosed: a) b) that fact; and the aggregate carrying amount of goodwill or intangible assets with indefinite useful lives allocated to those units (groups of units). 11.3.9 Where the recoverable amounts of any of those units (groups of units) are based on the same key assumption(s) and the aggregate carrying amount of goodwill or intangible assets with indefinite useful lives allocated to them is significant in comparison with the Companys total carrying amount of goodwill or intangible assets with indefinite useful lives, has the Company disclosed: a) b) that fact; the aggregate carrying amount of goodwill allocated to those units (groups of units); c) the aggregate carrying amount of intangible assets with indefinite useful lives allocated to those units (groups of units); d) e) a description of the key assumption(s); a description of managements approach to determining the value(s) assigned to the key assumption(s), whether those value(s) reflect past experience or, if appropriate, are consistent with external sources of information, and, if not, how and why they differ from past experience or external sources of information; and f) if a reasonably possible change in the key assumption(s) would cause the aggregate of the units (groups of units) carrying amounts to exceed the aggregate of their recoverable amounts: the amount by which the aggregate of the units (groups of units) recoverable amounts exceeds the aggregate of their carrying amounts; the value(s) assigned to the key assumption(s); and the amount by which the value(s) assigned to the key assumption(s) must change, after incorporating any consequential effects of the change on the other variables used to measure recoverable amount, in order for the aggregate of the units (groups of units) recoverable amounts to be equal to the aggregate of their carrying amounts. 11.4 Investment Property 11.4.1 Has the Company disclosed the following: a. b. whether it applies the fair value model or the cost model; if it applies the fair value model, whether, and in what circumstances, property interests held under operating leases are classified and accounted for as investment property; IAS 40.75 IAS 36.135 IAS 36.135 NO

Page 43 of 189

DISCLOSURE MADE YES c. when classification is difficult, the criteria the Company uses to distinguish investment property from owner-occupied property and from property held for sale in the ordinary course of business; d. the methods and significant assumptions applied in determining the fair value of investment property; e. a statement whether the determination of fair value was supported by market evidence or was more heavily based on other factors (which the entity shall disclose) because of the nature of the property and lack of comparable market data; f. the extent to which the fair value of investment property (as measured or disclosed in the financial statements) is based on a valuation by an independent valuer who holds a recognised and relevant professional qualification and who has recent experience in the location and category of the investment property being valued; g. if there has been no valuation by an independent valuer (as described in f above), that fact; h. the amounts included in the profit or loss for: rental income from investment property; direct operating expenses (including repairs and maintenance) arising from investment property that generated rental income during the period; and direct operating expenses (including repairs and maintenance) arising from investment property that did not generate rental income during the period; the cumulative change in fair value recognised in profit or loss on a sale of investment property from a pool of assets in which the cost model is used into a pool in which the fair value model is used (see IAS 40.32C); and i. the existence and amounts of restrictions on the realisability of investment property or the remittance of income and proceeds of disposal; and j. contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancements. 11.4.2 If the Company applies the fair value model, has it disclosed (in addition to the requirements of IAS 40.75) a reconciliation of the carrying amount of investment property at the beginning and end of the period, showing the following: NO

IAS 40.76

a.

additions, disclosing separately those resulting from acquisitions and those resulting from subsequent expenditure recognised in the carrying amount of an asset;

b. c.

additions resulting from acquisitions through business combinations? assets classified as held for sale or included in a disposal group classified as held for sale in accordance with IFRS 5 and other disposals;

Page 44 of 189

DISCLOSURE MADE YES d. e. net gains or losses from fair value adjustments the net exchange differences arising on the translation of into a different presentation currency, and on the translation of a foreign operation into the presentation currency of the reporting entity; NO

f.

transfers to and from: (i) inventories; and (ii) owner-occupied property; and

g.

other movements. IAS 40.77

11.4.3 When a valuation obtained for an investment property is adjusted significantly for the purpose of the financial statements, has the Company disclosed a reconciliation between the valuation obtained and the adjusted valuation included in the financial statements, showing separately: a. the aggregate amount of any unrecognised lease obligations that have been added back; and b. any other significant adjustments.

11.4.4 In the exceptional cases when the Companys policy is to account for investment properties at fair value, but because of the lack of a reliable fair value, it measures investment property at cost less any accumulated depreciation and any accumulated impairment losses, has the Company disclosed: a. b. c. d. e. a reconciliation relating to that investment property separately of the carrying amount at the beginning and end of the period; a description of the investment property; an explanation of why fair value cannot be determined reliably; if possible, the range of estimates within which fair value is highly likely to lie; and on disposal of investment property not carried at fair value: the fact that the Company has disposed of investment property not carried at fair value; the carrying amount of that investment property at the time of sale; the amount of gain or loss recognised.

IAS 40.78

11.4.5 Has the following been disclosed, if the cost model is used:a. b. c. depreciation methods used the useful lives or the depreciation rates used the gross carrying amount and the accumulated depreciation: (i) at the beginning (ii) at the end of the period d. a reconciliation of the carrying amount of investment property at the beginning and end of the period, showing the following: additions, disclosing separately those additions resulting from acquisitions and those resulting from subsequent expenditure recognised as an asset; additions resulting from acquisitions through business combinations;

IAS 40.79

Page 45 of 189

DISCLOSURE MADE YES assets classified as held for sale or included in a disposal group classified as held for sale in accordance with IFRS 5 and other disposals; depreciation; the amount of impairment losses recognised, and the amount of impairment losses reversed, during the period in accordance with IAS 36; the net exchange differences arising on the translation of the financial statements into a different presentation currency, and on translation of a foreign operation into the presentation currency of the reporting entity; transfers to and from inventories and owner-occupied property; and other changes; e. f. the fair value of investment property; and in the exceptional cases (see IAS 40.53 for guidance), when the Company cannot determine the fair value of the investment property reliably, has the entity disclosed: a description of the investment property; an explanation of why fair value cannot be determined reliably; and if possible, the range of estimates within which fair value is highly likely to lie. 11.5 Intangible Assets (including goodwill) 11.5.1 Has the following information been disclosed for each class of intangible assets distinguishing between internally generated intangible assets and other intangible assets: a. b. c. whether the useful lives are indefinite or finite and, if finite the useful lives or the amortisation rates used; the amortisation methods used for intangible assets with finite useful lives; the gross carrying amount and the accumulated amortisation (aggregated with accumulated impairment losses): at the beginning of the period; and at the end of the period; d. the line item(s) of the income statement in which any amortisation of intangible assets is included; IAS 38.118 NO

11.5.2 Has the Company disclosed the reconciliation of the carrying amount at the beginning and end of the period showing: a. additions (indicating separately those from internal development and through business combinations); b. assets classified as held for sale or included in a disposal group classified as held for sale in accordance with IFRS 5 and other disposals; c. increases or decreases resulting from revaluations (in accordance with IAS 38.75, 38.85 and 38.86) and from impairment losses recognized or reversed directly in equity (in accordance with IAS 36); d. impairment losses recognized in the profit and loss account during the period; e. f. impairment losses reversed during the period; amortization;

IAS 38.118(e)

Page 46 of 189

DISCLOSURE MADE YES g. the net exchange differences arising on the translation of the financial statements into the presentation currency, and on the translation of a foreign operation into the presentation currency of the reporting Company; and NO

h.

other movements.

11.5.3

Do the financial statements disclose: a. for an intangible asset assessed as having an indefinite useful life, the carrying amount of that asset and reasons supporting the assessment of an indefinite useful life; b in giving these reasons (see a. above), has the Company described the factor(s) that played a significant role in determining that the asset has an indefinite useful life; c. for any individual intangible asset that is material to the Companys financial statements: - a description; - the carrying amount; and - remaining amortisation period; d. for intangible assets acquired by way of a government grant and initially recognised at fair value: the fair value initially recognised for these assets; their carrying amount; and whether they are measured after recognition under the cost model or the revaluation model; e. the existence and carrying amounts of intangible assets whose title is restricted and the carrying amounts of intangible assets pledged as security for liabilities.

IAS 38.122

Revalued intangible assets 11.5.4 If intangible assets are accounted for at revalued amounts, has the Company disclosed the following information: a. by class of intangible assets: the effective date of the revaluation; the carrying amount of revalued intangible assets; and the carrying amount that would have been recognised had the revalued class of intangible assets been measured after recognition using the cost model in IAS 38.74; b. the amount of the revaluation surplus that relates to intangible assets at the beginning and end of the period, indicating the changes during the period and any restrictions on the distribution of the balance to shareholders; and c. the method and significant assumptions applied in estimating the assets fair values. IAS 38.124

Page 47 of 189

DISCLOSURE MADE YES Other information 11.5.5 Has the Company disclosed the following information: a. b. a description of any fully amortised intangible asset that is still in use; a brief description of significant intangible assets controlled by the entity but not recognised as assets because they did not meet the recognition criteria of IAS 38 or because they were acquired or generated before the version of IAS 38 Intangible Assets issued in 1998 was effective. 11.6 Goodwill and Negative Goodwill 11.6.1 Has the Company disclosed the following information that enables users of its financial statements to evaluate changes in the carrying amount of goodwill during the period: a. the gross amount and accumulated impairment losses at the beginning of the period; b. additional goodwill recognised during the period except goodwill included in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5; c. adjustments resulting from the subsequent recognition of deferred tax assets during the period; d. goodwill included in a disposal group classified as held for sale in accordance with IFRS 5 and goodwill derecognised during the period without having previously been included in a disposal group classified as held for sale; e. f. g. h. 11.6.2 impairment losses recognised during the period; net exchange differences arising during the period; any other changes in the carrying amount during the period; and the gross amount and accumulated impairment losses at the end of the period. IAS 36.133 IFRS 3.74 IFRS 3.75 IAS 38.128 NO

Where the initial allocation of goodwill acquired in a business combination was incomplete at reporting date, therefore goodwill was not allocated to a cash generating unit (group of units) at the reporting date, has the Company disclosed: a. b. the amount of the unallocated goodwill; and the reasons why that amount remains unallocated.

Page 48 of 189

DISCLOSURE MADE YES 11.6.3 If goodwill has been allocated to a cash-generating unit and the Company disposes of an operation within that unit, has the goodwill associated with the operation disposed of : a. included in the carrying amount of the operation when determining the gain or loss on disposal; and b. measured on the basis of the relative values of the operation disposed of and the portion of the cash-generating unit retained, unless the entity can demonstrate that some other method better reflects the goodwill associated with the operation disposed of. 11.7 Government Grants 11.7.1 Do the financial statements contain: a) b) c) the accounting policy adopted for government grants; the methods of presentation adopted in the financial statements; disclosure of the nature and extent of the government grants recognized in the financial statements, if any, and an indication of other forms of government assistance from which the Company has directly benefited; d) Unfulfilled conditions and other contingencies attached to government assistance that have been recognized; 12.0 12.1 LONG-TERM INVESTMENTS Has the Company shown under separate sub-heads the aggregate amount in respect of the following: (I) (ii) 12.2 Investments in related parties; and other investments (Sch. II 2(B)) (Sch. II 2(A)) IAS 20.39 IAS 36.86 NO

Has the Company shown the above investments under the head long term investments and indicated separately whether: (a) (b) (c) (d) at cost; using the equity method; held to maturity investments, which are not due to mature within next twelve months; and available for sale investments, which are not intended to be sold within next twelve months.

12.2

Associates 12.2.1 Has the Company classified the investment in associate as held for sale' and account for it in accordance with IFRS 5 where: a. its carrying amount will be recovered principally through a sale transaction rather than through continuing use; and IAS 28.14

Page 49 of 189

DISCLOSURE MADE YES b. it must be available for immediate sale in its present condition and its sale must be highly probable. 12.2.2 Has the Company disclosed the following: a. the fair value of investments in associates for which there are published price quotations; b. summarised financial information of associates, including the aggregated amounts of assets, liabilities, revenues and profit or loss; c. the reasons why the investor concludes that it has significant influence in situations where it holds directly, or indirectly through subsidiaries less than 20 per cent of the voting or potential voting power of the investee; d. the reasons why the investor concludes that it does not have significant influence in situations where it holds directly, or indirectly through subsidiaries, 20 per cent or more of the voting or potential voting power of the investee; e. the reporting date of the financial statements of an associate, when such financial statements are used in applying the equity method and are as of a reporting date or for a period that is different from that of the investor, and the reason for using a different reporting date or different period; f. the nature and extent of any significant restrictions (eg resulting from borrowing arrangements or regulatory requirements) on the ability of associates to transfer funds to the investor in the form of cash dividends, repayment of loans or advances; g. the unrecognised share of losses of an associate, both for the period and cumulatively, if an investor has discontinued recognition of its share of losses of an associate; h. the fact that an associate is not accounted for using the equity method in accordance with IAS 28.13; and i. summarised financial information of associates, either individually or in groups, which are not accounted for using the equity method, including the amounts of total assets, total liabilities, revenues and profit or loss. 12.2.3 Has carrying amount of investments in associates accounted for using the equity method been disclosed as a separate item in the balance sheet? 12.2.4 Has the Companys share of profit or loss of associates accounted for using the equity method been disclosed as a separate item in the income statement? 12.2.5 Has the Companys share of any discontinued operations of such associates accounted for using the equity method been disclosed separately? IAS 28.38 IAS 28.38 IAS 28.38 IAS 28.37 NO

Page 50 of 189

DISCLOSURE MADE YES 12.2.6 Has the Company, in accordance with IAS 37, disclosed the following information: a. its share of the contingent liabilities of an associate incurred jointly with other investors; and b. those contingent liabilities that arise because the investor is severally liable for all or part of the liabilities of the associate. 12.3 Joint Ventures 12.3.1 Has the Company if a venturer disclosed listing and description of interests in significant joint ventures and the proportion of ownership interest held in jointly controlled entities? 12.3.2 If the Company (venturer) recognises its interest in jointly controlled companies using the line by line reporting format for proportionate consolidation or the equity method, has it disclosed: IAS 31.56 a. b. c. d. e. f. 12.3.3 current assets? long-term assets? current liabilities? long-term liabilities? income (e.g. total of revenue and other operating income)? expenses (e.g. total of operating expenses, and net interest expense)? IAS 31.57 IAS 31.56 IAS 28.40 NO

Has the Company (venturer) disclosed the method it uses to recognise its interests in jointly controlled entities.

12.4

Subsidiaries 12.4.1 Has a parent not presented consolidated financial statements to comply with IFRSs, if and only if: a. it is a wholly-owned subsidiary or the owners of the minority interests, including those not otherwise entitled to vote, do not object to the parent not presenting consolidated financial statements; b. c. d. its securities are not publicly traded; it is not in the process of issuing securities in public securities markets; the immediate or ultimate parent publishes consolidated financial statements that comply with IFRSs. 12.4.2 Has the Company prepared consolidated financial statements using uniform accounting policies for like transactions and other events in similar circumstances? 12.4.3 In consolidated financial statements, has the following been disclosed: a. the nature of the relationship between the parent and a subsidiary when the parent does not own, directly or indirectly through subsidiaries, more than half of the voting power; IAS 27.40 IAS 27.28 IAS 27.10

Page 51 of 189

DISCLOSURE MADE YES b. the reasons why the ownership, held directly or indirectly through subsidiaries, of more than half of the voting or potential voting power of an investee does not constitute control; c. the reporting date of a subsidiarys financial statements when it is different from that of the parent, and the reason for using a different reporting date or period; and d. the nature and extent of any significant restrictions (e.g. resulting from borrowing arrangements or regulatory requirements) on the ability of subsidiaries to transfer funds to the parent in the form of cash dividends or to repay loans or advances. 12.4.4 Have the following disclosures been made in the parents separate financial statements that elects not to present consolidated financial statements (in accordance with IAS 27.10 above): a. the fact that the financial statements are separate financial statements; that the exemption from consolidation has been used; b. the name and country of incorporation or residence of the Company whose consolidated financial statements that comply with IFRSs have been produced for public use (and the address where these are obtainable); c. a list of significant investments in subsidiaries, jointly controlled entities or associates, including the name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held; and d. A description of the method used to account for investments in subsidiaries, associates and jointly controlled entities. 12.4.5 Has the following disclosures been made in the parents (other than a parent covered by IAS 27.41)/ venturers/investors separate financial statements, been made: a. b. the fact that the financial statements are separate financial statements; the reasons why those separate financial statements are prepared if not required by law; c. a list of significant investments in subsidiaries, jointly controlled entities or associates, including the name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held; and d. a description of the method used to account for investments in subsidiaries, associates and jointly controlled entities. IAS 27.42 IAS 27.41 NO

Page 52 of 189

DISCLOSURE MADE YES 12.4.6 Has the Company presented minority interests separately from liabilities and the parent shareholders equity? 12.4.7 Has the Company presented minority interests separately in the income of the group? 12.5 Investments - Financial Assets 12.5.1 Are financial assets classified into: a. b. c. d. financial assets at fair value through profit or loss; held to maturity investments; loans and receivables; available for sale. IAS 32.94(h)(ii) IAS 39.45 IAS 27.33 IAS 27.33 NO

12.5.2 For available-for-sale financial assets, has the following been disclosed: a. the amount of any gain or loss that was recognised in equity during the current period; and b. the amount that was removed from equity and reported in net profit or loss for the period. 12.5.3 If the Company has reclassified a financial asset as one required to be measured at cost or amortised cost rather than at fair value, has it disclosed the reason for the reclassification (refer to IAS 39.54). 12.5.4 For all transfers that involve collateral, if the transferee has the right by contract or custom to sell or repledge the collateral, has the transferor reclassified that asset in its balance sheet separately from other assets? 12.6 Financial Instrument- General Disclosure 12.6.1 For each class of financial asset, financial liability and equity instrument, has the Company disclosed: a. information about the extent and nature of the financial instruments, including significant terms and conditions that may affect the amount, timing and certainty of future cash flows. b. the accounting policies and methods adopted, including the criteria for recognition and the basis of measurement applied. 12.6.2 When financial instruments held or issued by a Company, either individually or as a class, create a potentially significant exposure to the risks described in IAS 32. 52 (market risk which includes currency risk, fair value interest rate risk and price risk credit risk, liquidity risk and cash flow interest rate risk), terms and conditions that warrant disclosure, has it included the following: a. the principal, stated, face or other similar amount, which, for some derivative instruments such as interest rate swaps, might be the amount (referred to as the notional amount) on which future payments are based;

IAS 32.94(g)

IAS 39.37(a)

IAS 32.60

IAS 32.63

Page 53 of 189

DISCLOSURE MADE YES b. c. the date of maturity, expiry or execution; early settlement options held by either party to the instrument, including the period in which, or date at which, the options can be exercised and the exercise price or range of prices; d. options held by either party to the instrument to convert the instrument into, or exchange it for, another financial instrument or some other asset or liability, including the period in which, or date at which, the options can be exercised and the conversion or exchange ratio(s); e. the amount and timing of scheduled future cash receipts or payments of the principal amount of the instrument, including installment repayments and any sinking fund or similar requirements; f. the stated rate or amount of interest, dividend or other periodic return on principal and the timing of payments; g. collateral held, in the case of a financial asset, or pledged, in the case of a financial liability; h. in the case of an instrument for which cash flows are denominated in a currency other than the Companys functional currency, the currency in which receipts or payments are required; i. in the case of an instrument that provides for an exchange, information described in items (a)-(h) above for the instrument to be acquired in the exchange; and j. any condition of the instrument or an associated covenant that, if contravened, would significantly alter any of the other terms (for example, a maximum debt-to-equity ratio in a bond covenant that, if contravened, would make the principal amount of the bond due and payable immediately). 12.6.3 When the balance sheet presentation of a financial instrument differs from the instruments legal form, has the Company explained in the notes the nature of the instrument? 12.7 Risk Management Policies and Hedging Activities 12.7.1 Has the Company described financial risk management objectives and policies, including policy for hedging each main type of forecast transaction for which hedge accounting is used? IAS 32.56 IAS 32.64 NO

Page 54 of 189

DISCLOSURE MADE YES 12.7.2 In addition to providing specific information about particular balances and transactions related to financial instruments, has the Company provided an explanation of the extent to which financial instruments are used, the associated risks and the business purposes served? An explanation of managements policies for controlling the risks associated with financial instruments includes policies on matters such as the hedging of risk exposures, avoidance of undue concentrations of risk, and requirements for collateral to mitigate credit risk. Such explanation provides a valuable additional perspective that is independent of the specific instruments held or outstanding at a particular time. 12.7.3 Has the Company disclosed the following separately for designated fair value hedges, cash flow hedges and hedges of a net investment in a foreign operation (as defined in IAS 39): a. b. a description of the hedge; a description of the financial instruments designated as hedging instruments and their fair values at the balance sheet date; c. d. the nature of the risks being hedged; and for cash flow hedges, the periods in which the cash flows are expected to occur, when they are expected to enter into the determination of profit or loss, and a description of any forecast transaction for which hedge accounting had previously been used but which is no longer expected to occur. 12.7.4 When a gain or loss on a hedging instrument in a cash flow hedge has been recognised directly in equity, through the statement of changes in equity, has the following disclosure been made: (a) the amount that was recognised in equity during the period; (b) the amount that was removed from equity and included in profit or loss for the period; and (c) the amount that was removed from equity during the period and included in the initial measurement of the acquisition cost or other carrying amount of a non-financial asset or non-financial liability in a hedged, highly probable forecast transaction. 12.7.5 Has the Company disclosed a narrative description of how designation as at fair value through profit or loss is consistent with the Companys documented risk management or investment strategy? IAS 32.66d(ii) IAS 32.59 IAS 32.58 IAS 32.57 NO

Page 55 of 189

DISCLOSURE MADE YES 12.8 Interest rate risk 12.8.1 For each class of financial assets and financial liabilities, has the disclosure about exposure to interest rate risk been made, including: (a) contractual repricing or maturity dates, whichever dates are earlier; (b) effective interest rates, when applicable. The requirement in IAS 32 para 67(b) applies to bonds, notes, loans and similar financial instruments involving future payments that create a return to the holder and a cost to the issuer reflecting the time value of money. The requirement does not apply to financial instruments such as investments in equity instruments and derivative instruments that do not bear a determinable effective interest rate. 12.8.2 Has the Company provided information about exposure to the effects of future changes in the prevailing level of interest rates? 12.8.3 To supplement the information about contractual repricing and maturity dates, has the Company disclosed information about expected repricing or maturity dates when those dates differ significantly from the contractual dates? 12.8.4 Has the Company disclosed that which financial assets and financial liabilities are: a. exposed to fair value interest rate risk, such as financial assets and financial liabilities with a fixed interest rate; b. exposed to cash flow interest rate risk, such as financial assets and financial liabilities with a floating interest rate that is reset as market rates change; and c. not directly exposed to interest rate risk, such as some investments in equity instruments. 12.8.5 A Company may become exposed to interest rate risk as a result of a transaction in which no financial asset or financial liability is recognised on its balance sheet. Has the Company, in such circumstances, disclosed information that permits users of its financial statements to understand the nature and extent of its exposure, including: a. b. c. d. the stated principal; interest rate; term to maturity of the amount to be lent; and the significant terms of the transaction giving rise to the exposure to interest rate risk. 12.8.6 When a Company has a variety of financial instruments exposed to fair value or cash flow interest rate risk, has it adopted one or more of the following approaches to present information: IAS 32.74 IAS 32.73 IAS 32.71 IAS 32.70 IAS 32.68 IAS 32.72 IAS 32.67 NO

Page 56 of 189

DISCLOSURE MADE YES a. The carrying amounts of financial instruments exposed to interest rate risk may be presented in tabular form, grouped by those that are contracted to mature or to be repriced in the following periods after the balance sheet date: (i) one year or less; (ii) more than one year, but no more than two years; (iii) more than two years, but no more than three years; (iv) more than three years, but no more than four years; (v) more than four years, but no more than five years; and (vi) more than five years; b. When a Companys performance is significantly affected by the level of its exposure to interest rate risk or changes in that exposure, more detailed information is desirable. In such case a Company such as a bank may disclose, for example, separate groupings of the carrying amounts of financial instruments contracted to mature or to be repriced: (i) in one month or less after the balance sheet date; (ii) in more than one month but no more than three months after the balance sheet date; and (iii) in more than three months but no more than 12 months after the balance sheet date; c. Company may indicate its exposure to cash flow interest rate risk through a table indicating the aggregate carrying amount of groups of floating-rate financial assets and financial liabilities maturing within various future time periods; and d. Interest rate information may be disclosed for individual financial instruments. Alternatively, weighted average rates or a range of rates may be presented for each class of financial instrument. An entity may group into separate classes instruments denominated in different currencies or that have substantially different credit risks when those factors result in instruments having substantially different effective interest rates. 12.8.7 When disclosing information about interest rate sensitivity, has it indicated the basis on which the information has been prepared, including any significant assumptions? 12.9 Credit Risk A Company may be exposed to credit risk as a result of a transaction in which no financial asset is recognised on its balance sheet, such as for a financial guarantee or credit derivative contract. Guaranteeing an obligation of another party creates a liability and exposes the guarantor to credit risk that is taken into account in making the disclosures required by IAS 32 para 76. 12.9.1 For each class of financial assets and other credit exposures, has the Company disclosed information about exposure to credit risk, including: IAS 32.76 IAS 32.82 IAS 32.75 NO

Page 57 of 189

DISCLOSURE MADE YES a. the amount that best represents the maximum credit risk exposure at the balance sheet date, without taking into account the fair value of any collateral, in the event of other parties failing to perform their obligations under financial instruments; and b. significant concentrations of credit risk including; a description of the shared characteristic that identifies each concentration; and the amount of the maximum credit risk exposure associated with financial assets sharing that characteristic 12.9.2 A financial asset subject to a legally enforceable right of offset against a financial liability is not presented on the balance sheet net of the liability unless settlement is intended to take place on a net basis or simultaneously. Is the existence of the legal right of offset disclosed when providing information in accordance with IAS 32.76? 12.9.3 When a master netting arrangement significantly reduces the credit risk associated with financial assets not offset against financial liabilities with the same counterparty, has the Company provided disclosures on the effect of the arrangement that indicate: a. the credit risk associated with financial assets subject to a master netting arrangement is eliminated only to the extent that financial liabilities due to the same counterparty will be settled after the assets are realised; and b. the extent to which a Companys overall exposure to credit risk is reduced through a master netting arrangement may change substantially within a short period following the balance sheet date because the exposure is affected by each transaction subject to the arrangement; c. the terms of its master netting arrangements that determine the extent of the reduction in its credit risk. 12.10 Fair Value 12.10.1 For each class of financial asset and financial liability, except as set out in 12.10.3 & 12.10.4, has the Company disclosed the fair value of that class of assets and liabilities in a way that allows it to be compared with the corresponding carrying amount in the balance sheet? 12.10.2 In disclosing fair values, has the Company grouped financial assets and financial liabilities into classes and offsets them only to the extent that their related carrying amounts are offset in the balance sheet? 12.10.3 If investments in unquoted equity instruments or derivatives linked to such equity instruments are measured at cost under IAS 39 because their fair value cannot be measured reliably, has the Company disclosed the following information: IAS 32.90 IAS 32.89 IAS 32.86 IAS 32.81 IAS 32.80 IAS 32.85 NO

Page 58 of 189

DISCLOSURE MADE YES a. b. c. d. that fact together with a description of the financial instruments; their carrying amount; an explanation of why fair value cannot be measured reliably; if possible, the range of estimates within which fair value is highly likely to lie; and e. if financial assets whose fair value previously could not be reliably measured are sold: that fact; the carrying amount of such financial assets at the time of sale; and the amount of gain or loss recognised. 12.10.4 Where financial assets and financial liabilities contain a discretionary participation feature and a Company cannot measure reliably the fair value of this feature, has the Company disclosed: a. b. c. d. that fact, together with a description of the contracts; its carrying amount; c. an explanation why fair value cannot be measured reliably; and d. if possible, the range of estimates within which fair value is highly likely to lie. 12.10.5 Has the Company disclosed the following information: a. the methods and significant assumptions applied in determining fair values of financial assets and financial liabilities separately for significant classes of financial assets and financial liabilities (refer to IAS 32.55 for guidance on determining classes of financial assets); b. whether fair values of financial assets and financial liabilities are determined directly, in full or in part, by reference to published price quotations in an active market or are estimated using a valuation technique (refer to IAS 39, AG71-79); c. whether financial statements include financial instruments measured at fair values that are determined in full or in part using a valuation technique based on assumptions that are not supported by observable market prices or rates. If changing any such assumption to a reasonably possible alternative would result in a significantly different fair value, the Company should state this fact and disclose the effect on the fair value of a range of possible alternative assumptions. Significance should be judged with respect to profit or loss and total assets or total liabilities; and d. the total amount of the change in fair value estimated using a valuation technique that was recognised in profit or loss during the period. IAS 32.92 IAS 32.91A NO

Page 59 of 189

DISCLOSURE MADE YES 12.10.6 Has the disclosure of fair value information including disclosure of the method used in determining fair value and the significant assumptions been made in its application. 12.11 Other Disclosures 12.11.1 Derecognition If the Company has sold or otherwise transferred a financial asset through some form of a securitisation arrangement, but the transfer does not qualify for derecognition in full or in part (for example, because of a repurchase agreement, a put or call option, or a credit guarantee on the transferred asset or a portion of that asset) and, the Company continues to recognise all of the asset or the asset to the extent of the Company's continuing involvement, has it disclosed: a. b. c. d. the nature of the assets; the nature of the risks and rewards of ownership to which the entity remains exposed; the carrying amounts of the asset and of the associated liability, if the Company continues to recognise all of the asset; and the total amount of the asset, the amount of the asset that the entity continues to recognise and the carrying amount of the associated liability, if the Company continues to recognise the asset to the extent of its continuing involvement. 12.11.2 Collateral 1) Has the Company disclosed the carrying amount of financial assets pledged as collateral for liabilities, the carrying amount of financial assets pledged as collateral for contingent liabilities, and any material terms and conditions relating to assets pledged as collateral, in accordance with IAS 32.60(a) and 32.63(g). 2) When a Company has accepted collateral that it is permitted to sell or repledge in the absence of default by the owner of the collateral, has the Company disclosed: (a) (b) the fair value of the collateral accepted (financial and non-financial assets); the fair value of any such collateral sold or repledged and whether the Company has an obligation to return it; and (c) any material terms and conditions associated with the use of this collateral, in accordance with IAS 32.60(a) and 32.63(g). 12.11.3 Compound financial instruments with multiple embedded derivatives If a Company has issued an instrument that contains both a liability and an equity component (refer to IAS 32.28) and the instrument has multiple embedded derivative features whose values are interdependent (such as a callable convertible debt instrument), has the Company disclosed the existence of those features and the effective interest rate on the liability component, excluding any embedded derivatives that are accounted for separately? IAS 32.94(d) IAS 32.94(c) IAS 32.94(b) IAS 32.94(a) IAS 32.93 NO

Page 60 of 189

DISCLOSURE MADE YES 12.11.4 Financial assets and financial liabilities at fair value through profit or loss 1. Has the Company disclosed the carrying amounts of financial assets and financial liabilities that: a. b. are classified as held for trading; and were designated by the Company, upon initial recognition, as financial assets and financial liabilities at fair value through profit or loss (i.e. those that are not financial instruments classified as held for trading). 2. If the Company has designated a financial liability as at fair value through profit or loss, has it disclosed: a. the amount of change in its fair value that is not attributable to changes in a benchmark interest rate (for example, LIBOR); and b. the difference between its carrying amount and the amount the entity would be contractually required to pay to the holder of the obligation at maturity. 3. Has the Company disclosed for each class of financial assets whether regular way purchases and sales of financial assets are accounted for at trade date or at settlement date 13.0 13.1 LONG TERM LOANS AND ADVANCES Has the Company shown separately the amounts considered good and considered bad or doubtful for the following: 13.1.1 loans and advances to related parties; and (i) the name of each borrower together with the amount of loans and advances, the terms of loan and advance and the particulars of collateral security held, if any; and (ii) in case of loans and advances to directors, chief executive and executives, the purposes for which loans and advances were made and reconciliation of the carrying amount at the beginning and end of the period showing disbursement and repayments. Sch II. 3 IAS 39.38 IAS 32.94(f) IAS 32.94(e) NO

(iii)

the maximum aggregate amount of loans and advances outstanding at any time since the date of incorporation or since the date of the previous balance-sheet, whichever is later. Such maximum amounts shall be calculated by reference to month end balance

Page 61 of 189

DISCLOSURE MADE YES 13.1.2 Other loans and advances For the loans and advances other than those to the suppliers of goods or services. Has the Company disclosed the name of the borrower and terms of repayment if the loan or advance is material together with the particulars of collateral security? 13.1.3 Has provision, if any, been made for bad or doubtful loans and advances shown as a deduction to 13.1.1 and 13.1.2 above? 14.0 14.1 LONG-TERM DEPOSITS AND PREPAYMENTS Whether the Company has separately disclosed all material items related to: (i) (ii) 15.0 15.1 long-term deposits, and long-term prepayments. Sch II. 4 Sch II. 3C NO

CURRENT ASSETS Has the Company classified current assets under sub-heads appropriate to the Company's business, including, where applicable, the following:

Sch II. 5A

(i)

Stores, spare parts and loose tools distinguishing, where practicable, each from the other;

(ii) (iii)

stock-in-trade distinguishing between appropriate classifications; trade debts other than loans or advances, showing separately debts considered good and debts considered doubtful or bad;

(iv)

loans and advances, showing separately those considered good and those considered doubtful or bad;

(v)

trade deposits and short term prepayments and current account balances with statutory authorities;

(vi) (vii) (viii)

interest accrued; other receivables specifying separately the material items; financial assets, other than as mentioned in clauses(iii) to (vii) above, and cash and bank balances;

(ix) (x)

tax refunds due from the Government; and cash and bank balances, distinguishing between current and deposit accounts, where applicable.

Page 62 of 189

DISCLOSURE MADE YES 15.2 Whether the following particulars are disclosed for (iii), (iv) and (viii) above (i) The aggregate amount due by directors, chief executive and executives of the Company and any of them severally or jointly with any other person; and (ii) aggregate amount due by related parties, other than mentioned in 14.1(i) above, names to be specified in each case. 15.3 In respect of 15.1 (i) above, have the aggregate amount of the following been shown separately: (i) (ii) 15.4 Investment in related parties other investments. Sch II. 5D Sch ll.5C Sch II. 5B NO

Whether investments are shown under the head current assets, wherever applicable, indicating separately: a. b. c. held to maturity investments; available for sale investments; and at fair value through profit or loss

15.5

Whether the provision is made for diminution in the value of or loss in respect of any current asset shown as a deduction from the gross amount of the respective assets?

Sch ll.5E

16.0 16.1

INVENTORIES Are the following disclosed in financial statements:a. the accounting policies adopted in measuring inventories including the cost formula used; b. the total carrying amount of inventories and the carrying amount in classifications appropriate to the Company; for example:- raw material - work-in-process - finished goods c. d. e. the carrying amount of inventories carried at FV less cost to sell; the amount of inventories recognised as an expense during the period; the amount of any write-down of inventories recognised as an expense in the period (refer IAS 2.34) ; f. the amount of any reversal of any write-down that is recognized as a reduction in the amount of inventories recognised as expense in the period (refer IAS 2.34); g. the circumstances or events that led to the reversal of a write down of inventories (refer IAS 2.34); and h. the carrying amount of inventories pledged as security for liabilities. IAS 2.36 IAS 2.36 IAS 2.36 IAS 1.75(c) IAS 2.36 IAS 2.36 IAS 2.36 IAS 2.37 IAS 2.36

Page 63 of 189

DISCLOSURE MADE YES 16.2 Do the financial statements disclose either: a. b. PART III the cost of inventories recognized as an expense during the period? or the operating costs, recognised as an expense during the period, classified by their nature, together with the amount of the net change in inventories for the period. IAS 2.34 IAS 2.37 NO

PROFIT AND LOSS ACCOUNT 1.0 Has the profit and loss account been drawn up as to disclose separately the manufacturing, trading and operating results. In the case of manufacturing concern, has the cost of goods manufactured also been shown? 2.0 Whether the profit and loss account has disclosed all material items of income and expenses including the following:(A) The turnover and showing as deduction there from trade discount and sales tax. (B) Expenses, classified according to their function under the following sub-heads, along with additional information on their nature, namely:(I) Cost of sales; (ii) distribution cost; (iii) administrative expenses; (iv) other operating expenses; and (v) finance cost (C) Other operating income, namely:(I) Income from financial assets; (ii) income from investments in and debts, loans, advances and receivables to each related party; and (iii) income from assets other than financial assets. (D) Finance cost separately show the amount of interest on borrowings from related parties, if any. (E) Other information relating to the following, namely:(I) debts written off as irrevocable distinguishing between trade debts, loans, advances and other receivables; and (ii) provisions for doubtful or bad debts distinguishing between trade debts, loans advances and other receivables. (F) The aggregate amount of auditors' remuneration, showing separately fees, expenses and other remuneration for services rendered as auditors and for services rendered in any other capacity and stating the nature of such other services. In the case of joint auditors, the aforesaid information shall be shown separately for each of the joint auditors. Sch. III. 2 Sch. III. 1

Page 64 of 189

DISCLOSURE MADE YES (G) In the case of donations where any director or his spouse has interest in the donee, the names of such directors, their interest in the donee and the names and address of all donees. NO

3.0

Has the Company, as a minimum, on the face of the income statement disclosed the following line items: a. b. c. revenue; finance costs; share of the profit or loss of associates and joint ventures accounted for using the equity method; d. e. tax expense; a single amount comprising the total of the post-tax profit or loss of discontinued operations and the post-tax gain or loss recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operations; f. profit or loss after tax. 'IAS 1.82 IAS 12.77 IFRS 5.33 IAS 1.81 IAS 1.81 IAS 28.38

4.0

Have, as a minimum, the following line items been included on the face of the income statement as allocations of profit or loss for the period: a. b. profit or loss attributable to minority interest; and profit or loss attributable to equity holders of the parent.

IAS 27.33

5.0

Has the Company presented additional line items, headings and sub-totals on the face of the income statement when such presentation is relevant to an understanding of the Company's financial performance? IAS 1.83 IAS 1.99

6.0

Have all items of income and expense recognized in a period been included in net profit or loss for the period unless an IAS requires or permits otherwise?

7.0

Has the Company presented the analysis of expenses, as described above, on the face of the income statement?

IAS 1.89

8.0

Has the Company classifying expenses by function disclosed additional information on the nature of expenses, including the following:a. b. depreciation and amortization expense employee benefit scheme IAS 1.93

9.0

Have items of income and expense been presented separately and not offset unless a Standard or Interpretation required?

IAS 1.32

10.0 Has the amount of dividends recognised as distributions to equity holders during the period, and related dividends per share been disclosed either on the face of the income statement or the statement of changes in equity, or in the notes?

IAS 1.95 IAS 18.35

11.0

Has the following been disclosed:a. the accounting policies adopted for the recognition of revenue including the methods adopted to determine the stage of completion of transactions involving the rendering of services

Page 65 of 189

DISCLOSURE MADE YES b. the amount of each significant category of revenue recognized during the period including revenue arising from: i) the sale of goods? ii) the rendering of services? iii) interest? iv) royalties? v) dividends? c. the amount of revenue arising from exchange of goods or services included in each significant category of revenue. NO

12.0

Has the Company stated by way of a note, the respective amounts included in Sch ll.2E(i) and (ii) for the following

Sch. III 3

(I)

debts due by directors, chief executive, and executives of the Company and any of them severally or jointly with any other person; and

(ii)

debts due by related parties (other than in clause (I) above) Sch. III 4

13.0 Has the Company stated the following by way of a note:__

(i)

The aggregate amount charged in the financial statements in respect of the directors, chief executive and executives by the Company as fees, remuneration, allowances, commission, perquisites or benefits or in any other form or manner and for any services and shall give full particulars of such aggregate amounts separately for the directors, chief executive and executives together with the number of such directors and executives, under appropriate heads, such as: (a) fees; (b) managerial remuneration; (c) commission or bonus, indicating the nature thereof; (d) reimbursable expenses which are in the nature of a perquisite or benefit; (e) pension, gratuities, Company's contribution to provident, superannuation and other staff funds, compensation for loss of office and in connection with retirement from office; (f) other perquisites and benefits in cash or in kind stating their nature and, where practicable, their approximate money values; and (g) the amounts, if material, by which any items shown above are affected by any change in an accounting policy.

(ii)

In the case of sale of fixed assets, if the book value of the asset or assets exceeds in aggregate fifty thousand rupees, particulars of the assets and in aggregate: (a) cost or valuation, as the case may be; (b) the book value; and (c) the sale price and the mode of disposal (e.g. by tender or negotiation) and the particulars of the purchaser.

14.0 Has the Company disclosed separately the nature and amount of items of income and expense that are material?

IAS 1.86

Page 66 of 189

DISCLOSURE MADE YES 15.0 Has research and development expenditure been recognized as an expense during the period? 16.0 Has the Company disclosed the amount of exchange differences recognised in profit or loss except for those arising on financial instruments measured at fair value through profit or loss in accordance with IAS 39? IAS 38.126 IAS 21.52(a) NO

18.0 Gains and losses 18.1 When there is a change in the fair value of a financial asset or financial liability , is there any gain or loss arising that is not part of a hedging relationship recognised as follows: a. A gain or loss on a financial asset or financial liability classified as at fair value through profit or loss to be recognised in profit or loss. b. A gain or loss on an available-for-sale financial asset to be recognised directly in equity, through the statement of changes in equity except for impairment losses and foreign exchange gains and losses until the financial asset is derecognised, at which time the cumulative gain or loss previously recognised in equity shall be recognised in profit or loss 18.2 Is the interest calculated using the effective interest method is recognised in profit or loss? 18.3 Have the dividends on an available-for-sale equity instrument recognised in profit or loss when the Companys right to receive payment is established (see IAS 18). 18.4 For financial assets and financial liabilities carried at amortised cost, has a gain or loss recognised in profit or loss when the financial asset or financial liability is derecognised or impaired, and through the amortisation process? However, for hedged items IAS 39.89- 39.102 shall be followed 19.0 Related Party Transaction 19.1 Has the Company disclosed the following information: a. b. c. d. the relationship between parent and subsidiary (irrespective of whether there have been transactions between them); the name of the Companys parent; if different, the ultimate controlling party; or if neither the Companys parent nor the ultimate controlling party produces financial statements available for public use, the name of the next most senior parent. IAS 24.12 IAS 39.56 IAS 39.55 IAS 39.55 IAS 39.55

19.2 Has the Company disclosed key management personnel compensation in total and for each of the following categories: a. b. c. short-term employee benefits; post-employment benefits; other long-term benefits;

IAS 24.16

Page 67 of 189

DISCLOSURE MADE YES d. e. termination benefits; and share-based payments. NO

19.3 If there have been transactions between related parties, has the Company disclosed in addition to the requirements in IAS 24.16 to disclose key management personnel compensation, the following information (separately for each of the categories required by IAS 24.18): a b the nature of the related party relationship; and information about the transactions and outstanding balances necessary for an understanding of the potential effect of the relationship on the financial statements including, as a minimum, the following disclosures: the amount of the transactions; the amount of outstanding balances and: their terms and conditions, including whether they are secured, and the nature of the consideration to be provided in settlement; and details of any guarantees given or received; provisions for doubtful debts related to the amount of outstanding balances; and the expense recognised during the period in respect of bad or doubtful debts due from related parties. 19.4 Has the Company disclosed the information required by IAS 24.17 separately for each of the following categories: a. b. c. d. e. f. g. the parent; entities with joint control or significant influence over the Company; subsidiaries; associates; joint ventures in which the Company is a venturer; key management personnel of the Company or its parent; and other related parties.

IAS 24.17

IAS 24.18

19.5

Has the Company disclosed, for example, the following transactions if they are with a related party: a. b. c. d. e. f. g. h. i. purchases or sales of goods (finished or unfinished); purchases or sales of property and other assets; rendering or receiving of services; leases; transfer of research and development; transfer under licence agreements; transfers under finance arrangements (including loans and equity contributions in cash or in kind); provision of guarantees or collateral; and settlement of liabilities on behalf of the Company or by the Company on behalf of another party.

IAS 24.20

Page 68 of 189

DISCLOSURE MADE YES 19.6 Have disclosures that related party transactions were made on terms equivalent to those that prevail in arms length transactions been made only if such terms can be substantiated? 19.7 Has separate disclosure of items of similar nature been made if considered necessary for an understanding of the effects of related party transaction on the financial statements of the reporting Company? IAS 24.21 NO

IAS 24.22

20.0 RETIREMENT BENEFITS 20.1 Has the Company disclosed the amount recognized as an expense for defined contribution plan? 20.2 With regard to defined benefit plan, has the Company disclosed the total expenses recognized in the income statement for each of the following, and the line item(s) of the income statement in which they are included:i) ii) iii) iv) current service cost? interest cost? expected return on plan assets? expected return on any reimbursement right recognized as an asset under paragraph above. iv) v) vi) actuarial gains and losses? past service cost? the effect of any curtailment or settlement? IAS 19.120 (A)g IAS 19.46

20.3 Has the Company disclosed the actual return on plan assets as well as the actual return on any reimbursement right recognized as an asset? 21.0 INCOME TAX 21.1 Has the tax expense (income) related to profit or loss from ordinary activities been separately presented on the face of the Profit and Loss Account? 21.2 Have the major components of tax expense (income) been disclosed separately ? Note : List of components of tax expense may be seen in IAS 12.80 (revised) 21.3 Has the Company disclosed the following separately ? a. the aggregate current and deferred tax relating to items that are charged or credited to equity; IAS 12.81 IAS 12.77 IAS 12.79 IAS 19.120A) (m)

Page 69 of 189

DISCLOSURE MADE YES b. an explanation of the relationship between tax expense (income) and accounting profit in either or both of the following forms: i) a numerical reconciliation between tax expense (income) and the product of accounting profit multiplied by the applicable tax rate(s), disclosing also the basis on which the applicable tax rate(s) is (are) computed; or ii) a numerical reconciliation between the average effective tax rate and the applicable tax rate, disclosing also the basis on which the applicable tax rate is computed; c. an explanation of changes in the applicable tax rate(s) compared to the previous accounting period; d. the amount (and expiry date, if any) of deductible temporary differences, unused tax losses, and unused tax credits for which no deferred tax asset is recognized in the balance sheet; e. the aggregate amount of temporary differences associated with investments in subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilities have not been recognized; f. in respect of each type of temporary difference, and in respect of each type of unused tax losses and unused tax credits: i) the amount of the deferred tax assets and liabilities recognized in the balance sheet for each period presented; ii) the amount of the deferred tax income or expense recognized in the income statement, if this is not apparent from the changes in the amounts recognized in the balance sheet; and g. in respect of discontinued operations, the tax expense relating to: i) the gain or loss on discontinuance; and ii) the profit or loss from the ordinary activities of the discontinued operation for the period, together with the corresponding amounts for each prior period presented. h. the amount of income tax consequences of dividends to shareholders of the Company that were proposed or declared before the financial statements were authorized for issue, but are not recognized as liability in the financial statements. 21.4 Has the Company disclosed the amount of a deferred tax asset and the nature of the evidence supporting its recognition, when: a. the utilization of the deferred tax asset is dependent on future taxable profits in excess of the profits arising from the reversal of existing taxable temporary differences? and b. the Company has suffered a loss in either the current or preceding period in the tax jurisdiction to which the deferred tax asset relates? IAS 12.82 NO

Page 70 of 189

DISCLOSURE MADE YES 21.5 Has the amount of unrecognised deferred tax liabilities associated with investments in subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilities have not been recognised, been disclosed when this disclosure has not required undue cost or effort? 21.6 Income taxes are payable at a higher or lower rate, if part or all of the net profit or retained earnings is paid out as a dividend to shareholders of the Company. In some other jurisdictions, income taxes may be refundable or payable if part or all of the net profit or retained earnings is paid out as a dividend to shareholders of the Company. In these circumstances, has the Company disclosed: a the nature of the potential income tax consequences that would result from the payment of dividends to its shareholders, including the important features of the income tax systems and the facts that will affect the amount of the potential income tax consequences of dividends; b the amounts of the potential income tax consequences determinable without undue cost or effort; and c any potential income tax consequences that cannot be determined without undue cost or effort. 21.7 It may sometimes require undue cost or effort to compute the total amount of the potential income tax consequences that would result from the payment of dividends to shareholders. In the following cases has it been possible for a Company to compute some portions of the total, for example: a if in a consolidated group, a parent and some of its subsidiaries (1) have paid income taxes at a higher rate on undistributed profits and (2) are aware of the amount that would be refunded on the payment of future dividends to shareholders from consolidated retained earnings, has the entity disclosed the refundable amount; b if applicable, has the Company disclosed that there are additional potential income tax consequences that cannot be determined without undue cost or effort; and c do the parents separate financial statements, if any, disclose the potential income tax consequences relating to the parents retained earnings. 21.8 Has the Company disclosed any tax-related contingent liabilities and contingent assets in accordance with IAS 37? 22 SEGMENT REPORTING IAS 14.76 IAS 12.88 IAS 12.87B IAS 12.82A IAS 12.82A IAS 12.87 NO

22.1 Is disclosure made of: a. b. any changes in identification of segments? changes, if any, in accounting policies used, having a material effect in reporting segment information?

Page 71 of 189

DISCLOSURE MADE YES If the answer to (a) or (b) above is "YES" does the disclosure include: i) ii) iii) iv) description of the nature of change? explanation of the reasons for the change? the financial effect of the change, if the same is reasonably determinable? the fact that comparative information has been restated or that it is impracticable to do so; v) for comparative information: i. restated prior period segment information, unless it is impracticable to do so; or ii. segment data for both the old and the new bases of segmentation in the year in which the Company changes the identification of its segments 22.2 Has the Company indicated the types of products and services included in each reported business segment and indicated the composition of each reported geographical segment, both primary and secondary, if not, otherwise disclosed in the financial statements or elsewhere in the financial report? 22.3 Has the Company presented all of the primary segment disclosures for each reportable secondary segment, although requirements for disclosure on the secondary basis are considerably less? 22.4 Are the following disclosure requirements applied to each reportable segment based on the primary reporting format: 22.4.1 Has the Company disclosed segment revenue and reported separately segment revenue from sales to external customers and segment revenue from transactions with other segments? 22.4.2 Has the Company disclosed segment result, reporting the result from continuing operations separately from the result from discontinuing operations? 22.4.3 Where the Company has discontinued operations at balance sheet date, has the Company restated the segment results from prior periods in relation to the disclosure of segment results as required above by IAS 14.52 (so that restated segment results represent all operations that have been classified as discontinued as at the balance sheet date)? IAS 14.52A IAS 14.51 IAS 14.52 IAS 14.50 IAS-14.81 IAS 14.49 NO

22.4.4

Has the Company computed segment net profit or loss or some other measure of segment profitability other than segment result without arbitrary allocations: segment net profit or loss or some other measure of segment profitability, appropriately described; and if the above amount is prepared on a basis other than the accounting policies adopted for the consolidated or parent-only financial statements , a clear description of the basis of measurement;

IAS 14.53

Page 72 of 189

DISCLOSURE MADE YES 22.4.5 Has the Company disclosed the total carrying amount of segment asset for each reportable segments? 22.4.6 22.4.7 Has the Company disclosed segment liabilities? Has the Company disclosed the total cost incurred during the period to acquire segment assets that are expected to be used during more than one period (property, plant, equipment and intangible assets)? 22.4.8 Has the Company disclosed the total amount of expense included in segment result for depreciation and amortisation of segment assets for the period? 22.4.9 Has the Company disclosed the nature and amount of any items of segment revenue and segment expense that are of such size, nature, or incidence that their disclosure is relevant to explain the performance of each reportable segment for the period? 22.4.10 Has the Company disclosed the total amount of significant non-cash expenses, other than depreciation and amortisation, (which are required to be disclosed separately under IAS 14.58) that were included in segment expense and, therefore, deducted in measuring segment result? IAS 14.61 &14.63 IAS 14.58 IAS 14.59 IAS 14.57 IAS 14.55 IAS 14.56 NO

22.4.11 Has the Company disclosed the significant non-cash revenues that were included in segment revenue and, therefore, added in measuring segment result? 22.5 Has the Company disclosed the aggregate of the Companys share of the net profit or loss of associates, joint ventures, or other investments accounted for under the equity method if substantially all of those associates operations are within that single segment? 22.6 Has the Company disclosed the aggregate investments in associates, joint ventures and other investments accounted for under the equity method by reportable segment if the Company's aggregate share of the profit or loss in those associates is disclosed by reportable segment?

IAS 14.62

IAS 14.64

IAS 14.66

22.7 Has the Company presented a reconciliation between the information disclosed for reportable segments and the aggregated information in the consolidated or Company's financial statements?. 22.8 If the answer to 22.7 above is yes, then have reconciliations between the following been disclosed: IAS 14.67

IAS 14.67

a.

segment revenue and Company revenue from external customers (including disclosure of the amount of Company revenue from external customers not included in any segment's revenue)? segment results and comparable measure of Company operating profit or loss as well as Company net profit or loss; segment result from discontinued operations and the Companys net profit or loss from discontinued operations; segment assets and Company assets; segment liabilities and Company liabilities.

b. c. d. e.

Page 73 of 189

DISCLOSURE MADE YES 22.9 In case the Company primary format for reporting segment information is business segments, has the following information been reported: a. segment revenue, carrying amount of asset and total cost incurred from external customers by geographical area based on geographical location of its customers for each geographical segment whose revenue, asset and cost from sales to external customers are 10 percent or more? b. the total carrying amount of segment assets by geographical location of assets, for each geographical segment whose segment assets are 10 percent or more of the total assets of all geographical segments? c. the total cost incurred during the period to acquire segment assets that are expected to be used during more than one period (property, plant, equipment, and intangible assets) by geographical location of assets, for each geographical segment whose segment assets are 10 percent or more of the total assets of all geographical segments. 22.10 In case the Company's primary format for reporting segment information is geographical segments, have following additional disclosures been made for each business segment whose revenue from sales to external customers is 10 percent or more of total Company revenue from sales to all external customers or whose segment assets are 10 percent or more of total assets of all business segments: IAS 14.69 NO

a. b. c.

segment revenue from external customers? the total carrying amount of segment assets? the total cost incurred during the period to acquire segment assets that are expected to be used during more than one period (property, plant, equipment, and intangible assets)? IAS 14.70

22.11 In case the Company's primary format for reporting segment information is geographical segments that are based on location of assets, and if the location of its customers is different from the location of its assets, has the Company reported revenue from sales to external customers for each customer-based geographical segment whose revenue from sales to external customers is 10 percent or more of total Company revenue from sales to all external customers? 22.12 In case the Company primary format for reporting segment information is geographical segments that are based on location of customers, and if the Company's assets are located in different geographical areas from its customers, has the Company reported the following segment information for each asset-based geographical segment whose revenue from sales to external customers or segments or segment assets are 10 percent or more of related consolidated or total Company amounts: a. the total carrying amount of segment assets by geographical location of the assets? IAS 14.71

Page 74 of 189

DISCLOSURE MADE YES b. the total cost incurred during the period to acquire segment assets that are expected to be used more than one period (property, plant, equipment, and intangible assets) by location of the assets? 22.13 If a business segment or geographical segment for which information is reported to the board of directors and chief executive officer is not a reportable segment because it earns a majority of its revenue from sales to other segments, but nonetheless its revenue from sales to external customers is 10 per cent or more of total entity revenue from sales to all external customers, has the Company disclosed: a. that fact that the revenue from sales to external customers is 10 percent or more of total entity revenue from sales to all external customers; b. the amounts of revenue from: sales to external customers; and internal sales to other segments. 22.14 Is the basis of pricing inter-segment transfers and any change therein disclosed in the financial statements? 23.0 23.1 EXTRAORDINARY ITEMS Has the Company ensured that it has not presented any item of income and expense as extraordinary items either on the face of the profit or loss or in the notes? 24.0 24.1 EARNINGS PER SHARE If the Company discloses earnings per share, has the earnings per share been disclosed in accordance with IAS 33? 24.2 Has a Company that presents both consolidated financial statements and separate financial statements prepared in accordance with IAS 27, presented the disclosures required by IAS 33 only on the basis of the consolidated information? 24.3 Has a Company disclosed earnings per share based on its separate financial statements, presented such earnings per share information only on the face of its separate income statement and not in the consolidated financial statements? 24.4 If the number of ordinary or potential ordinary shares outstanding increases as a result of a capitalisation, bonus issue or share split, or decreases as a result of a reverse share split (even if these changes occur after the balance sheet date but before the financial statements are authorised for issue), and therefore the calculation of basic and diluted earnings per share for all periods presented has been adjusted retrospectively, has the fact that per share calculations reflect such changes in the number of shares been disclosed? IAS 33.64 IAS 33.4 IAS 33.3 IAS 33.4 IAS 1.85 IAS 14.75 IAS 14.72 IAS 14.74 NO

Page 75 of 189

DISCLOSURE MADE YES 24.5 Has the Company presented, on the face of the income statement for each class of ordinary shares that has a different right to share in profit for the period, basic and diluted earnings per share for the: a. b. profit or loss from continuing operations; profit or loss for the period; IAS 33.66 IAS 33.66 NO

24.6 Has the Company disclosed basic and diluted earning for each class of ordinary shares per share with equal prominence for all periods presented on the face of the Profit and Loss Account? 24.7 If the Company reports a discontinuing operation, has the basic and diluted earnings per share for this line item been disclosed either on the face of the income statement or in the notes to the financial statements? 24.8 Has the Company presented basic and diluted earnings per share, even if the amounts are negative (i.e. a loss per share)? 24.9 Has the following been disclosed: a. the amounts used as the numerators in calculating basic and diluted earnings per share, and a reconciliation of those amounts to the net profit or loss for the period (including the individual effect of each class of instruments that affects earnings per share); b. the weighted average number of ordinary shares used as the denominator in calculating basic and diluted earnings per share, and a reconciliation of these denominators to each other (including the individual effect of each class of instruments that affects earnings per share); c. instruments (including contingently issuable shares) that could potentially dilute basic earnings per share in the future, but were not included in the calculation of diluted earnings per share because they are anti-dilutive for the period(s) presented; and d. a description of ordinary share transactions or potential ordinary share transactions, other than as a result of a capitalisation, bonus issues or share splits or decreases as a result of a reverse share splits, that occur after the balance sheet date but before the financial statements are authorised for issue that would have changed significantly the number of ordinary shares or potential ordinary shares outstanding at the end of the period if those transactions had occurred before the end of the reporting period. 24.10 Has the Company disclosed the terms and conditions of financial instruments and other contracts generating potential ordinary shares that affect the measurement of basic and diluted earnings per share, if this disclosure is not already otherwise required (see IAS 32 and, if applicable, IFRS 7). 24.11 If the Company disclosed, in addition to basic and diluted earnings per share, amounts per share using a reported component of the income statement other than one required by IAS 33:

IAS 33.68

IAS 33.69

IAS 33.70

IAS 33.72

IAS 33.73

Page 76 of 189

DISCLOSURE MADE YES a. have basic and diluted amounts per share relating to such a component been disclosed with equal prominence and presented in the notes to the financial statements; and b. has the basis been indicated on which the numerator(s) is (are) determined, including whether amounts per share are before tax or after tax. 24.12 If the Company discloses, in addition to basic and diluted earnings per share, amounts per share using a component that is not reported as a line item in the income statement, has a reconciliation been provided between the component used and a line item that is reported in the income statement? PART IV 1.0 CASH FLOW STATEMENT Does the cash flow statement report cash flows during the period classified by operating, investing and financing activities? 2.0 Does the Company report cash flows from operating activities using either: a. the direct method, whereby major classes of gross cash receipts and gross cash payments are disclosed? or b. the indirect method, whereby net profit or loss is adjusted for the effects of transactions of non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments, and items of income or expense associated with investing or financing cash flows 3.0 Has the Company reported separately major classes of gross cash receipts and gross cash payments arising from investing and financing activities, except to the extent that cash flows are reported on a net basis in accordance with IAS 7.22 and 7.24? 4.0 Has the Company decided to report cash flows from the following operating, investing or financing activities on a net basis: a. cash receipts and payments on behalf of customers when the cash flows reflect the activities of the customers rather than those of the Company; and b. cash receipts and payments for items in which the turnover is quick, the amounts are large, and the maturities are short? 5.0 Has the cash flows arising from each of the following activities reported on a net basis: IAS 7.24 a. b. c. cash receipts and payments for the acceptance and repayment of deposits with a fixed maturity date; the placement of deposits with and withdrawal of deposits from other financial institutions; and cash advances and loans made to customers and the repayment of those advances and loans. IAS 7.21 IAS 7.22 IAS 7.10 IAS 7.18 IAS 33.73 NO

6.0

Has the cash flows arising from transactions in a foreign currency recorded in an Companys functional currency by applying to the foreign currency amount the exchange rate between the functional currency and the foreign currency at the date of the cash flow?

IAS 7.25

Page 77 of 189

DISCLOSURE MADE YES 7.0 Has the cash flows of a foreign subsidiary translated at the exchange rates between the functional currency and the foreign currency at the dates of the cash flows? Has the cash flow statement disclosed separately, cash flows from operating, investing and financing activities, the effect of exchange rate changes on cash and cash equivalents held or due in foreign currency. This amount includes the difference, if any, had those cash flows been reported at the end of period exchange rates? IAS 7.26 NO

7A

IAS 7.28

8.0

Are cash flows from interest and dividends received and paid disclosed separately. Are they classified in a consistent manner from period to period as either operating, investing or financing activities? IAS 7.31

9.0

Are cash flows arising from taxes on income separately disclosed and classified as cash flows from operating activities unless they can be specifically identified with financing and investing activities? IAS 7.35 IAS 7.36

10.0

When tax cash flows are allocated over more than one class of activity, has the total amount of taxes paid been disclosed?

11.0

Are aggregate cash flows arising from acquisitions and from disposal of subsidiaries or other business units presented separately and classified as investing activities? IAS 7.39

12.0

Are the following details disclosed in aggregate, in respect of both acquisitions and disposal of subsidiaries or other business units during the period, each of the following: i) ii) the total purchase or disposal consideration? the portion of the purchase or disposal consideration discharged by means of cash and cash equivalents? iii) the amount of cash and cash equivalents in the subsidiary or business unit acquired or disposed off? iv) the amount of the assets and liabilities other than cash or cash equivalents in the subsidiary or business unit acquired or disposed off, summarized by each major category? IAS 7.40

13.0

Are investing and financing transactions that do not require the use of cash or cash equivalents excluded from a cash flow statement? Are such transactions disclosed elsewhere in the financial statements in a way that provides all the relevant information about these investing and financing activities? IAS 7.43

14.0

Is disclosure made of the components of cash and cash equivalents and reconciliation presented the amounts in cash flow statement with the equivalent items reported in the balance sheet? IAS 7.45

15.0

Has the Company disclosed the policy adopted in determining the composition of cash and cash equivalents?

IAS 7.46

16.0

Is disclosure made, together with a commentary by management, of the amount of significant cash and cash equivalent balances held by the Company that are not available for use by the Group? IAS 7.48

Page 78 of 189

DISCLOSURE MADE YES 17.0 Has the Company disclosed the following information: a. the amount of undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments, indicating any restrictions on the use of these facilities. b. the aggregate amounts of the cash flows from each of operating, investing and financing activities related to interests in joint ventures reported using proportionate consolidation; c. the aggregate amount of cash flows that represent increases in operating capacity separately from those cash flows that are required to maintain operating capacity; d. cash flows of each reported industry and geographical segment arising from: operating activities; investing activities; and financing activities. IAS 7.50 NO

18.0

Has the Company presented information that enables users of the financial statements to evaluate the financial effects of discontinued operations and disposals of non-current assets (or disposal groups) by disclosing the net cash flows attributable to the operating, investing and financing activities of discontinued operations either in the notes or on the face of the financial statements? (These disclosures are not required for disposal groups that are newly acquired subsidiaries classified as held for sale on acquisition)

IFRS 5.33c

PART V 1.0

INTERIM FINANCIAL STATEMENTS (IFS) Has the Company presented, as a minimum, the following in respect of interim financial statements: IAS 34.8 a. b. condensed balance sheet condensed profit and loss account

c.

condensed statement showing either i) all change in equity or ii) changes in equity other than those arising from capital transactions with shareholders

d. e. 2.0

condensed cash flow statements selected explanatory notes IAS 34.11

Has the Company presented basic and diluted earnings per share on the face of the income statement, complete or condensed, for an interim period?

3.0

If the Company publishes condensed financial statements, have they included: a. b. each of the headings and subtotals that were included in its most recent annual financial statements; selected explanatory notes as required by IAS 34; and IAS 34.10

Page 79 of 189

DISCLOSURE MADE YES c. additional line items or notes whose omission would make the condensed interim financial statements misleading. 4.0 Are the accounting policies used for the preparation of interim financial statements consistent with most recent financial statement and the Company has included a statement to that effect in the financial statements? 5.0 If the answer to (4) is "NO" has the description of the nature and effect of change been disclosed? 6.0 7.0 Has the explanation about the seasonality or cyclicality of interim operation been disclosed? Has the disclosure of any unusual transaction been made due to their size, nature or incidence? 8.0 Is there any change in estimate for current or prior year having a material impact on financial statements? 9.0 Has the disclosure of the following been made: a) b) Issuance, repurchases, and repayments of debt and equity securities? Dividends paid (aggregate or per share) separately for ordinary shares and other shares? c) Segment revenue and segment result for business segments or geographical segments, whichever is the Company's primary basis of segment reporting? d) Material events subsequent to the end of the interim period that have not been reflected in the financial statements for the interim period? e) The effect of changes in the composition of the Company during the interim period, including business combinations, acquisition or disposal of subsidiaries and long-term investments restructuring and discontinuing operations? f) Changes in contingent liabilities or contingent assets since the last annual balance sheet date? 10.0 In addition to the information required above on a financial year-to-date basis, has the Company also disclosed any events or transactions that are material to an understanding of the current interim period such as: a. b. the write-down of inventories to net realisable value and the reversal of such a write-down; recognition of a loss from the impairment of property, plant, and equipment, intangible assets, or other assets, and the reversal of such an impairment loss; c. d. e. f. the reversal of any provisions for the costs of restructuring; acquisitions and disposals of items of property, plant, and equipment; commitments for the purchase of property, plant, and equipment; litigation settlements; IAS 34.16(j) IAS 34.16 IAS 34.17 IAS 34.16(i) IAS 34.16(h) IAS 34.16(g) IAS 34.16(f) IAS 34.16(e) IAS 34.16(d) IAS 34.16(c) IAS 34.16(a) IAS 34.16(b) IAS 34.16(a) IAS 34.16 NO

Page 80 of 189

DISCLOSURE MADE YES g. h. i. 11.0 corrections of prior period errors; any loan default or breach of a loan agreement that has not been remedied on or before the balance sheet date; and related party transactions. NO

Has disclosure of compliance with IAS 34 been made. Has the Company also ensured that it has not disclosed compliance with Standards unless it complies with all of the requirements of "IFRS's"? IAS 34.19

12.0

Has the Company included in its interim financial reports (condensed or complete) the following statements: a. balance sheet: as of the end of the current interim period; and a comparative balance sheet as of the end of the immediately preceding financial year; b. income statement: for the current interim period; a comparative income statement for the same current interim period of the immediately preceding financial year; cumulatively for the current financial year to date; and a comparative income statement for the same year to date current interim period of the immediately preceding financial year; c. statement showing changes in equity: cumulatively for the current financial year to date; and a comparative statement for the comparable year-to-date period of the immediately preceding financial year; and d. cash flow statement: cumulatively for the current financial year to date; and a comparative statement for the comparable year-to-date period of the immediately preceding financial year. IAS 34.20

13.0

If the Companys business is highly seasonal, does it disclose: financial information for the twelve months ending on the interim reporting date comparative information for the prior twelve-month period.

IAS 34.21

14.0

If an estimate of an amount reported in an interim period is changed significantly during the final interim period of the financial year but a separate financial report is not published for that final interim period, has the nature and amount of that change in estimate been disclosed in a note to the annual financial statements for that financial year? IAS 34.26

3 4

2 6

PART VI 1.0

NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS Has the Company present information that enables users of the financial statements to evaluate the financial effects of discontinued operations and disposals of non-current assets (or disposal groups) by disclosing the following information: a. a single amount on the face of the income statement comprising the total of: the post-tax profit or loss of discontinued operations; and the post-tax gain or loss recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation; and IFRS 5.30 IFRS 5.33

Page 81 of 189

DISCLOSURE MADE YES b. an analysis of the single amount in (a) into: the revenue, expenses and pre-tax profit or loss of discontinued operations; the related income tax expense; the gain or loss recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation; and the related income tax expense; and This analysis is not required for disposal groups that are newly acquired subsidiaries that meet the criteria to be classified as held for sale on acquisition (refer IFRS 5.11) NO

2.0

Has the Company re-presented the disclosures in IFRS 5.33 above for prior periods presented in the financial statements so that the disclosures relate to all operations that have been discontinued by the balance sheet date for the latest period presented? IFRS 5.34

3.0

Has the Company classified separately in discontinued operations and disclosed the nature of amount of adjustments that are made in the current period to IFRS 5.33 previously presented in discontinued operations that are directly related to the previously discontinued operation in a prior period? IFRS 5.35

4.0

Has the Company disclosed separately the major classes of assets and liabilities classified as held for sale either on the face of the balance sheet or in the notes, except if the disposal group is a newly acquired subsidiary that meets the criteria to be classified as held for sale at acquisition.

IFRS 5.38 IFRS 5.39

5.0

Has the Company disclosed the following information in the notes in the period in which a non-current asset (or disposal group) has been either classified as held for sale or sold: a. b. a description of the non-current asset (or disposal group); a description of the facts and circumstances of the sale, or leading to the expected disposal, and the expected manner and timing of that disposal; c. the gain or loss recognised in accordance with 5.20 - 5.22 and, if not separately presented on the face of the income statement, the caption in the income statement that includes that gain or loss; and d. if applicable, the segment in which the non-current asset (or disposal group) is presented in accordance with IAS 14.

IFRS 5.41

7.0

Where a Company ceases to classify the asset (or disposal group) as held for sale (refer to IFRS 5.26 & 29) has the Company disclosed the following information in the period of the decision to change the plan to sell the non-current asset (or disposal group): a. b. a description of the facts and circumstances leading to the decision; and the effect of the decision on the results of operations for the period and any prior periods presented.

IFRS 5.42

Page 82 of 189

DISCLOSURE MADE YES Part - VII 1.0 SHARE-BASED PAYMENT Has the Company disclosed information that enables users of the financial statements to understand the nature and extent of share-based payment arrangement in existence during the period by disclosing at least the following items: a. a description of each type of share-based payment arrangement including the general terms and conditions of each arrangement such as: vesting requirements; the maximum term of options granted; and the method of settlement (eg whether in cash or equity); b. the number and weighted average exercise prices of share options for each of the following groups of options: outstanding at the beginning of the period; granted during the period; forfeited during the period; exercised during the period; expired during the period; outstanding at the end of the period; and exercisable at the end of the period. c. for share options exercised during the period, the weighted average share price or where options were exercised on a regular basis throughout the period, the Company may instead disclose the weighted average share price during the period; and d. for share options outstanding at the end of the period: the range of exercise prices; and the weighted average remaining contractual life. 2.0 If the Company has measured the fair value of goods or services received as consideration for equity instruments of the Company indirectly, by reference to the fair value of the equity instruments granted, has the Company disclosed information that enables users of the financial statements to understand how the fair value of the equity instruments granted during the period was determined by disclosing at least the following items: a. for share options granted during the period, the weighted average fair value of those options at the measurement date and information on how that fair value was measured , including: the option pricing model used; the inputs to that model, including the weighted average share price, exercise price, expected volatility, option life, expected dividends, the risk free interest rate and any other inputs to the model, including the method used and assumptions made to incorporate the effects of expected early exercise; and how expected volatility was determined, including an explanation of the extent to which expected volatility was based on historical volatility; and whether and, how any other features of the option grant were incorporated into the measurement of fair value, such as market condition; IFRS 2.46 IFRS 2.47 IFRS 2.44 IFRS 2.45 NO

Page 83 of 189

DISCLOSURE MADE YES b. for other equity instruments granted during the period (i.e. other than share options): the number of those equity instruments at the measurement date; the weighted average fair value of those equity instruments at the measurement date; and information on how the fair value was measured including how the fair value was determined where it was not measured on the basis of an observable market price, whether and how expected dividends were incorporated and whether and how any other features of the equity instruments granted were incorporated; c. for share-based payment arrangements that were modified during the period: an explanation of those modifications; the incremental fair value granted (as a result of those modifications); and information on how the incremental fair value granted was measured, consistently with the requirements set out in a. and b. above, where applicable. 3.0 If the Company has measured directly the fair value of goods or services received during the period, has the Company disclosed information that enables users of the financial statements to understand how the fair value of the goods and services received during the period was determined (eg whether fair value was measured at a market price for those goods or services)? 4.0 In circumstances where the equity-settled share-based payment transactions involves parties other than employees, where the Company determines that the fair value of the goods and services received cannot be estimated reliably, has the Company: a. b. 5.0 disclosed that fact; and given an explanation of why the presumption was rebutted. IFRS 2.49 IFRS 2.46 IFRS 2.48 NO

Has the Company disclosed information that enables users of the financial statements to understand the effect of share-based payment transactions on the Companys profit or loss for the period and on its financial position, by disclosing the following: a. the total expense recognised for the period (relating to share-based payment transactions in which the goods or services received did not qualify for recognition as assets and hence were recognised immediately as an expense) , including separate disclosure of that portion of the total expense that arises from transactions accounted for as equity-settled share based payment transactions; and b. for liabilities arising from share-based payment transactions: the total carrying amount at the end of the period; and the total intrinsic value at the end of the period of liabilities for which the counterpartys right to cash or other assets had vested by the end of the period (eg vested share appreciation rights). IFRS 2.51 IFRS 2.50

6.0

Has the Company disclosed such additional information as necessary in order to satisfy the IFRS 2.44, 2.46 and 2.50

IFRS 2.52

Page 84 of 189

DISCLOSURE MADE YES Part- VIII 1.0 AGRICULTURE Has the Company disclosed the aggregate gain or loss arising during the current period on initial recognition of biological assets and agricultural produce and from the change in fair value less estimated point-of-sale costs of biological assets? 2.0 3.0 Is a description of each group of biological assets disclosed by the Company? Has the Company provided a quantified description of each group of biological assets, distinguishing between consumable and bearer biological assets or between mature and immature biological assets? 4.0 If not disclosed elsewhere in information published with the financial statements, do the financial statements include: a. b. the nature of its activities involving each group of biological assets; and non-financial measures or estimates of the physical quantities of: each group of the Companys biological assets at the end of the period; output of agricultural produce during the period. 5.0 Has the Company disclosed the following information in its financial statements: a. the methods and significant assumptions applied in determining the fair value of each group of agricultural produce at the point of harvest and each group of biological assets; b. the fair value less estimated point-of-sale costs of agricultural produce harvested during the period, determined at the point of harvest; c. d. e. the existence and carrying amounts of biological assets whose title is restricted; the carrying amounts of biological assets pledged as security for liabilities; the amount of commitments for the development or acquisition of biological assets; f. g. financial risk management strategies related to agricultural activity; and a reconciliation of changes in the carrying amount of biological assets between the beginning and the end of the current period that includes at least: the gain or loss arising from changes in fair value less estimated point ofsale costs; increases due to purchases; decreases due to sales and biological assets classified as held for sale in accordance with IFRS 5; decreases due to harvest; increases resulting from business combinations; net exchange differences arising on the translation of financial statements into a different presentation currency, and on translation of a foreign entity into the presentation currency of the reporting entity; other changes. IAS 41.49(c) IAS 41.50 IAS 41.499(a) IAS 41.49(a) IAS 41.49(b) IAS 41.48 IAS 41.47 IAS 41.46 IAS 41.43 IAS 41.41 IAS 41.40 NO

Page 85 of 189

DISCLOSURE MADE YES 6.0 Has the Company disclosed, by group or otherwise, the amount of change in fair value less estimated point-of-sale costs included in net profit or loss due to physical changes and due to price changes? 7.0 Disclosure when fair value cannot be measured reliably If the Company measures biological assets at their cost less any accumulated depreciation and any accumulated impairment losses at the end of the period (because fair value cannot be measured reliably, see IAS 41.30 for additional guidance), has the following information been disclosed for such biological assets: a. b. c. d. e. f. a description of the biological assets; an explanation of why fair value cannot be measured reliably; if possible, the range of estimates within which fair value is highly likely to lie; the depreciation method used; the useful lives or the depreciation rates used; and the gross carrying amount and the accumulated depreciation (aggregated with accumulated impairment losses) at the beginning and end of the period. 8.0 If, during the current period, the Company measures biological assets at their cost less any accumulated depreciation and any accumulated impairment losses, has the Company disclosed: a. b. any gain or loss recognised on disposal of such biological assets; a separate reconciliation of changes in the carrying amount of such biological assets between the beginning and the end of the current period that includes at least (comparative information is not required): increases due to purchases; decreases due to sales and biological assets classified as held for sale in accordance with IFRS 5; decreases due to harvest; increases resulting from business combinations; net exchange differences arising on the translation of financial statements into a different presentation currency, and on translation of a foreign Company into the presentation currency of the reporting Company ; impairment losses included in net profit or loss; reversals of impairment losses included in net profit or loss; depreciation included in net profit or loss; and other changes. 9.0 If the fair value of biological assets previously measured at their cost less any accumulated depreciation and any accumulated impairment losses becomes reliably measurable during the current period, has the Company disclosed: a. b. c. a description of the biological assets; an explanation of why fair value has become reliably measurable; and the effect of the change. IAS 41.56 IAS 41.50 IAS 41.55 IAS 41.54 IAS 41.51 NO

Page 86 of 189

DISCLOSURE MADE YES 10.0 Has the Company disclosed the following information related to agricultural activity covered by IAS 41: a. the nature and extent of government grants recognised in the financial statements; b. c. Part -IX 1.0 any unfulfilled conditions and other contingencies attaching to government grants; significant decreases expected in the level of government grants. IAS 41.57 NO

BANKS AND SIMILAR FINANCIAL INSTITUTIONS Has the Company presented a commentary on the financial statements that deals with such matters as the management and control of liquidity and risk? IAS 30.3

2.0

Has the Company disclosed accounting policies dealing with the following items: a. b. c. the recognition of the principal types of income; the valuation of investment and dealing securities; the distinction between those transactions and other events that result in the recognition of assets and liabilities on the balance sheet and those transactions and other events that only give rise to contingencies and commitments; d. the basis for the determination of impairment losses on loans and advances and for writing off uncollectible loans and advances; e. the basis for the determination of charges for general banking risks and the accounting treatment of such charges. IAS 30.8

3.0

Has the Company presented an income statement that groups income and expenses by nature and discloses the amounts of the principal types of income and expenses?

IAS 30.9

4.0

Has the Company disclosed the following items of income and expense: a. b. c. d. e. f. g. h. i. j. k. l. Interest and similar income; Interest expense and similar charges; Dividend income; Fee and commission income; Fee and commission expense; Gains less losses arising from dealing securities; Gains less losses arising from investment securities; Gains less losses arising from dealing in foreign currencies; Other operating income; Impairment losses on loans and advances; General administrative expenses; and Other operating expenses. IAS 30.10

Page 87 of 189

DISCLOSURE MADE YES 5.0 Has the Company disclosed a commentary about: a. b. c. d. average interest rates; average interest earning assets; average interest-bearing liabilities; the extent of deposits and facilities and their effect on net income, in countries where governments provide assistance to banks by making deposits and other credit facilities available at interest rates that are substantially below market rates. IAS 30.17 NO

6.0

Has the Company presented a balance sheet that groups assets and liabilities by nature and lists them in an order that reflects their relative liquidity?

IAS 30.18

7.0

Has the Company disclosed the following: a. Assets: Cash and balance with the central bank; Treasury bills and other bills eligible for rediscounting with the central bank; Government and other securities held for dealing purposes; Placements with, and loans and advances to, other banks; Other money market placements; Loans and advances to customers; and Investment securities. b. Liabilities: Deposits from other banks; Other money market deposits; Amounts owed to other depositors; Certificates of deposits; Promissory notes and other liabilities evidenced by paper; and Other borrowed funds. IAS 30.19

8.0

Has the Company disclosed the fair values of each class of its financial assets and liabilities in accordance with IAS 32? Has the Company disclosed, as a minimum, the fair values of its financial assets for each of the four classifications required by IAS 39, namely: a. b. c. d. loans and receivables; held-to-maturity investments; financial assets at fair value through profit or loss; and available-for-sale financial assets.

IAS 30.24

9.0

IAS 30.25

10.0

Has the Company disclosed the following contingent liabilities and commitments: a. the nature and amount of commitments to extend credit that are irrevocable because they cannot be withdrawn at the discretion of the Company without the risk of incurring significant penalty or expense; and b. the nature and amount of contingencies and commitments arising from off balance sheet items including those relating to: direct credit substitutes including general guarantees of indebtedness, bank acceptance guarantees and standby letters of credit serving as financial guarantees for loans and securities;

IAS 30.26

Page 88 of 189

DISCLOSURE MADE YES certain transaction-related contingent liabilities including performance bonds, bid bonds, warranties and standby letters of credit related to particular transactions; short-term self-liquidating trade-related contingent liabilities arising from the movement of goods, such as documentary credits where the underlying shipment is used as security; other commitments, note issuance facilities and revolving underwriting facilities. 11.0 Has the Company disclosed an analysis of assets and liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date? 12.0 13.0 Has the Company presented maturity groupings that are the same for assets and liabilities? Has the Company disclosed significant concentrations of its assets, liabilities and off balance sheet items in terms of: a. b. c. 14.0 15.0 geographical areas; customer or industry groups; or other concentrations of risk IAS 30.40 IAS 30.43 IAS 30.40 IAS 30.34 IAS 30.30 NO

Has the Company disclosed the amount of significant net foreign currency exposures? Has the Company disclosed the following information: a. the accounting policy that describes the basis on which uncollectible loans and advances are recognised as an expense and written off; b. details of the movements in any allowance account for impairment losses on loans and advances during the period, disclosing: the amount recognised as an expense in the period for impairment losses on uncollectible loans and advances; the amount charged in the period for loans and advances written off; the amount credited in the period for loans and advances previously written off that have been recovered; and c. the aggregate amount of any allowance account for impairment losses on loans and advances at the balance sheet date.

17.0

Has the Company disclosed any amounts set aside for general banking risks, including future losses and other unforeseeable risks or contingencies, as appropriations of retained earnings?

IAS 30.50

18.0

Has the Company disclosed: a. b. c. the aggregate amount of secured liabilities; the nature of the assets pledged as security; and carrying amount of the assets pledged as security. IAS 30.55 IAS 30.53

19.0

If the Company is engaged in significant trust activities, has disclosure been made of that fact and has an indication been given of the extent of those activities in its financial statements (because of the potential liability if the Company were to fail in its fiduciary duties)?

Page 89 of 189

DISCLOSURE MADE YES 20.0 Has the Company disclosed the following information to conform with IAS 24: a. b. the Companys policy for lending to related parties; and for related party transactions, the amount included in: each of loans and advances, deposits and acceptances and promissory notes (disclosures may include the aggregate amounts outstanding at the beginning and end of the period, as well as advances, deposits, repayments and other changes during the period) each of the principal types of income, interest expense and commissions paid; the amount of the expense recognised in the period for impairment losses on loans and advances and the amount of any allowance account at the balance sheet date; and irrevocable commitments and contingencies and commitments arising from off balance sheet items. Part- X 1.0 CONSTRUCTION CONTRACTORS Has the Company disclosed: a. b. c. 2.0 the amount of contract revenue recognised as revenue in the period; the methods used to determine the contract revenue recognised in the period; the methods used to determine the stage of completion of contracts in progress. IAS 11.40 IAS 11.39 IAS 30.58 NO

Has the Company disclosed the following for contracts in progress at the balance sheet date: a. b. c. the aggregate amount of costs incurred and recognised profits (less recognised losses) to date; the amount of advances received; and the amount of retentions.

3.0

Has the Company presented the following amounts in respect of construction contracts separately in the balance sheet (unless clearly immaterial): a. b. the gross amount due from customers for contract work as an asset; and the gross amount due to customers for contract work as a liability.

IAS 11.42

4.0

Has the Company disclosed any contingent assets and contingent liabilities in connection with construction contracts in accordance with IAS 37.

IAS 11.45

Page 90 of 189

DISCLOSURE MADE YES Part- XI 1.0 EXTRACTIVE INDUSTRIES Has the Company classified exploration and evaluation assets as tangible or intangible according to the nature of the assets acquired and apply the classification consistency? IFRS 6.15 NO

2.0

Has the Company stopped classifying exploration and evaluation assets as such when the technical feasibility and commercial viability of extracting a mineral resource are demonstrable?

IFRS 6.17

3.0

Has the Company presented and disclosed any impairment loss relating to exploration and evaluation assets in accordance with IAS 36?

IFRS 6.18

4.0

Has the Company determined an accounting policy for allocating exploration and evaluation assets to cash-generating units or groups of cash-generating units for the purpose of assessing such assets for impairment. Each cash-generating unit not larger than an operating segment is determined in accordance with IFRS 8 Operating Segments?

IFRS 6.21

5.0

Has the Company disclosed the following information that identifies and explains the amounts recognised in its financial statements arising from the exploration for and evaluation of mineral resources: a. b. c. its accounting policies for exploration and evaluation expenditures including the recognition of exploration and evaluation assets; the amounts of assets, liabilities, income and expense and operating and investing; cash flows arising from the exploration for and evaluation of mineral resources.

IFRS 6.23 IFRS 6.24

6.0

Has the Company treated exploration and evaluation assets as a separate class of assets and made the disclosures required by either IAS 16 or IAS 38 consistent with how the assets are classified?

IFRS 6.25

Part- XII 1.0

LEASE DISCLOSURES BY LESSORS Has the Company presented assets held under a finance lease in the balance sheet as a receivable at an amount equal to the net investment in the lease? Finance leases IAS 17.36

2.0

Has the following information been disclosed by the Company for finance leases (in addition to meeting the requirements of IAS 32): a. a reconciliation between the gross investment in the lease at the balance

IAS 17.47

sheet date, and the present value of minimum lease payments receivable at the balance sheet date; b. the gross investment in the lease and the present value of minimum lease payments receivable at the balance sheet date, for each of the following periods: not later than one year; later than one year and not later than five years; later than five years; c. d. e. f. g. unearned finance income; the unguaranteed residual values accruing to the benefit of the lessor; the accumulated allowance for uncollectible minimum lease payments receivable; contingent rents recognised as income in the period; and a general description of the lessors material leasing arrangements.

Page 91 of 189

DISCLOSURE MADE YES 3.0 Has the Company disclosed the gross investment less unearned income in new business added during the period, after deducting the relevant amounts for cancelled leases? Operating leases 4.0 Has the Company presented assets subject to operating leases in the balance sheet according to the nature of the asset? 5.0 Has the following information been disclosed by the Company for operating leases (in addition to meeting the requirements of IAS 32) : a. the future minimum lease payments under non-cancelable operating leases in the aggregate and for each of the following periods: not later than one year; later than one year and not later than five years; later than five years; b. c. Part-XIII 1.0 total contingent rents recognised as income in the period; and a general description of the lessors leasing arrangements. IAS 17.56 IAS 17.49 IAS 17.48 (not mandatory) NO

REPORTING BY RETIREMENT BENEFIT PLANS Has the Company disclosed the following information in the financial statements relating to a retirement benefit plan, whether defined benefit or defined contribution: a. b. c. a statement of changes in net assets available for benefits; a summary of significant accounting policies; and a description of the plan and the effect of any changes in the plan during the period.

IAS 26.34

2.0

Has the following been included in the financial statements provided by the retirement benefit plans: a. a statement of net assets available for benefits disclosing: assets at the end of the period suitably classified; the basis of valuation of assets; details of any single investment exceeding either 5% of the net assets available for benefits or 5% of any class or type of security; details of any investment in the employer; and liabilities other than the actuarial present value of promised retirement benefits; b. a statement of changes in net assets available for benefits showing the following: employer contributions; employee contributions; investment income such as interest and dividends; other income; benefits paid or payable (analysed, for example, as retirement, death and disability benefits, and lump sum payments); administrative expenses; other expenses; taxes on income; profits and losses on disposal of investments and changes in value of investments; and transfers from and to other plans; IAS 26.35 IAS 26.35 IAS 26.13

Page 92 of 189

DISCLOSURE MADE YES c. a description of the funding policy; IAS 26.35 NO

d.

the actuarial present value of promised retirement benefits (which may distinguish between vested benefits and non-vested benefits) based on the benefits promised under the terms of the plan, on service rendered to date, and which uses either current salary levels or projected salary levels;

IAS 26.35

e. f. g.

a description of significant actuarial assumptions made; the method used to calculate the actuarial present value of promised retirement benefits; a description of the plan and either as part of the financial statements or in a separate report, and has the following also been included:

IAS 26.35 IAS 26.35

IAS 26.36

i. the names of the employers and the employee groups covered; ii. the number of participants receiving benefits; iii. the number of other participants; iv. the type of plan defined contribution; v. a note as to whether participants contribute to the plan; vi. a description of the retirement benefits promised to participants; vii. a description of any plan termination terms; and viii. changes in items i. to vii. during the period covered by the report. 3.0 When plan investments are held for which an estimate of fair value is not possible, has the reason that fair value is not used, been disclosed? 4.0 Has the following additional information been included in the report of the defined contribution plan: IAS 26.16 (Suggestive not mandatory) a. a description of significant activities for the period and the effect of any changes relating to the plan, and its membership and terms and conditions; b. statements reporting on the transactions and investment performance for the period and the financial position of the plan at the end of the period; c. 5.0 a description of the investment policies. IAS 26.18 IAS 26.32

Has the fund disclosed the basis used using either current salary levels or projected salary levels to calculate the actuarial present value of promised retirement benefits? Have the effects of any change in actuarial assumptions that have had a significant effect on the actuarial present value of promised retirement benefits been disclosed?

6.0

Has either of the following been disclosed in the financial statements of a defined benefit plan:

IAS 26.17

a.

a statement that shows: i. the net assets available for benefits; ii. the actuarial present value of promised retirement benefits, distinguishing between vested benefits and non-vested benefits; and iii. the resulting excess or deficit; or

Page 93 of 189

DISCLOSURE MADE YES b. a statement of net assets available for benefits including either: i. a note disclosing the actuarial present value of promised retirement benefits, distinguishing between vested benefits and non-vested benefits; or ii. a reference to this information in an accompanying actuarial report. If an actuarial valuation has not been prepared at the date of the report, has the date of the valuation used been disclosed? 7.0 Has the report explained the relationship between the actuarial present value of promised retirement benefits and the net assets available for benefits, and the policy for the funding of promised benefits. Has the following additional information been included in the report of the defined benefit plan: IAS 26.19 IAS 26.17 NO

8.0

IAS 26.22 (Suggestive not mandatory)

a.

a description of significant activities for the period and the effect of any changes relating to the plan, and its membership and terms and conditions;

b.

statements reporting on the transactions and investment performance for the period and the financial position of the plan at the end of the period;

c. d. Part- XIV

actuarial information either as part of the statements or by way of a separate report; and a description of the investment policies.

BUSINESS COMBINATIONS Acquisitions

1.0

Has the acquirer disclosed information refer, IFRS 3.67 71 below that enables users of its financial statements to evaluate the nature and financial combinations that were effected: a. b. during the period; and after the balance sheet date but before the financial statements were authorised for issue.

IFRS 3.59

2.0

Has the Company disclosed the following information for each business combination that occurs during the reporting period: a. b. c. d. the name and a description of the acquiree. the acquisition date. the percentage of voting equity interests acquired. the primary reasons for the business combination and a description of how the acquirer obtained control of the acquiree. a qualitative description of the factors that make up the goodwill recognised, such as expected synergies from combining operations of the acquiree and the acquirer, intangible assets that do not qualify for separate recognition or other factors.

IFRS 3.60 and IFRS 3.B64

e.

Page 94 of 189

DISCLOSURE MADE YES f. the acquisition-date fair value of the total consideration transferred and the acquisition-date fair value of each major class of consideration, such as: (i) cash; (ii) other tangible or intangible assets, including a business or subsidiary of the acquirer; (iii) liabilities incurred, for example, a liability for contingent consideration; and (iv) equity interests of the acquirer, including the number of instruments or interests issued or issuable and the method of determining the fair value of those instruments or interests. g. for contingent consideration arrangements and indemnification assets: (i) the amount recognised as of the acquisition date; (ii) a description of the arrangement and the basis for determining the amount of the payment; and (iii) an estimate of the range of outcomes (undiscounted) or, if a range cannot be estimated, that fact and the reasons why a range cannot be estimated. If the maximum amount of the payment is unlimited, the acquirer shall disclose that fact. h. for acquired receivables: (i) the fair value of the receivables; NO

(ii) the gross contractual amounts receivable; and (iii) the best estimate at the acquisition date of the contractual cash flows not expected to be collected. The disclosures shall be provided by major class of receivable, such as loans, direct finance leases and any other class of receivables. i. the amounts recognised as of the acquisition date for each major class of assets acquired and liabilities assumed. j. for each contingent liability recognised in accordance with paragraph 23, the information required in paragraph 85 of IAS 37 Provisions, Contingent Liabilities and Contingent Assets. If a contingent liability is not recognised because its fair value cannot be measured reliably, the acquirer shall disclose: (i) the information required by paragraph 86 of IAS 37; and (ii) the reasons why the liability cannot be measured reliably.

Page 95 of 189

DISCLOSURE MADE YES k. the total amount of goodwill that is expected to be deductible for tax purposes. NO

l.

for transactions that are recognised separately from the acquisition of assets and assumption of liabilities in the business combination in accordance with paragraph 51: (i) a description of each transaction; (ii) how the acquirer accounted for each transaction; (iii) the amounts recognised for each transaction and the line item in the financial statements in which each amount is recognised; and

(iv) if the transaction is the effective settlement of a pre-existing relationship, the method used to determine the settlement amount. m. the disclosure of separately recognised transactions required by (l) shall include the amount of acquisition-related costs and, separately, the amount of those costs recognised as an expense and the line item or items in the statement of comprehensive income in which those expenses are recognised. The amount of any issue costs not recognised as an expense and how they were recognised shall also be disclosed. n. in a bargain purchase (see paragraphs 3436): (i) the amount of any gain recognised in accordance with paragraph 34 and the line item in the statement of comprehensive income in which the gain is recognised; and (ii) a description of the reasons why the transaction resulted in a gain. o. for each business combination in which the acquirer holds less than 100 per cent of the equity interests in the acquiree at the acquisition date:

(i) the amount of the non-controlling interest in the acquiree recognised at the acquisition date and the measurement basis for that amount; and (ii) for each non-controlling interest in an acquiree measured at fair value, the valuation techniques and key model inputs used for determining that value. p. in a business combination achieved in stages: (i) the acquisition-date fair value of the equity interest in the acquiree held by the acquirer immediately before the acquisition date; and (ii) the amount of any gain or loss recognised as a result of remeasuring to fair value the equity interest in the acquiree held by the acquirer before the business combination (see paragraph 42) and the line item in the statement of comprehensive income in which that gain or loss is recognised.

Page 96 of 189

DISCLOSURE MADE YES q. the following information: (i) the amounts of revenue and profit or loss of the acquiree since the acquisition date included in the consolidated statement of comprehensive income for the reporting period; and (ii) the revenue and profit or loss of the combined entity for the current reporting period as though the acquisition date for all business combinations that occurred during the year had been as of the beginning of the annual reporting period. If disclosure of any of the information required by this subparagraph is impracticable, the acquirer shall disclose that fact and explain why the disclosure is impracticable. This IFRS uses the term impracticable with the same meaning as in IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. 3.0 For business combinations where the initial accounting was determined only provisionally, has the Company disclosed: (i) the reasons why the initial accounting for the business combination is incomplete; (ii) the assets, liabilities, equity interests or items of consideration for which the initial accounting is incomplete; and (iii) the nature and amount of any measurement period adjustments recognised during the reporting period in accordance with paragraph Business combinations after balance sheet date 4.0 For business combinations effected after the balance sheet date, but before the financial statements are authorised for issue [refer IFRS 3.59(b)], has the following been disclosed: a. b. information required by IFRS 3.B64 noted above.; and if it is impracticable to disclose any of this information, has this fact been disclosed together with an explanation as to why this is the case. Business combinations adjustments 5.0 Has the Company disclosed the following information for each material business combination or in the aggregate for individually immaterial business combinations that are material collectively: a. if the initial accounting for a business combination is incomplete (see paragraph 45) for particular assets, liabilities, non-controlling interests or items of consideration and the amounts recognised in the financial statements for the business combination thus have been determined only provisionally: (i) the reasons why the initial accounting for the business combination is incomplete; IFRS 3.61 IFRS 3.62 IFRS 3.B67 IFRS 3.B66 IFRS 3.B67(a) NO

Page 97 of 189

DISCLOSURE MADE YES (ii) the assets, liabilities, equity interests or items of consideration for which the initial accounting is incomplete; and (iii) the nature and amount of any measurement period adjustments recognised during the reporting period in accordance with paragraph 49. b. for each reporting period after the acquisition date until the entity collects, sells or otherwise loses the right to a contingent consideration asset, or until the entity settles a contingent consideration liability or the liability is cancelled or expires: (i) any changes in the recognised amounts, including any differences arising upon settlement; (ii) any changes in the range of outcomes (undiscounted) and the reasons for those changes; and (iii) the valuation techniques and key model inputs used to measure contingent consideration. c. for contingent liabilities recognised in a business combination, the acquirer shall disclose the information required by paragraphs 84 and 85 of IAS 37 for each class of provision. d. a reconciliation of the carrying amount of goodwill at the beginning and end of the reporting period showing separately: (i) the gross amount and accumulated impairment losses at the beginning of the reporting period. (ii) additional goodwill recognised during the reporting period, except goodwill included in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. (iii) adjustments resulting from the subsequent recognition of deferred tax assets during the reporting period in accordance with paragraph 67. (iv) goodwill included in a disposal group classified as held for sale in accordance with IFRS 5 and goodwill derecognised during the reporting period without having previously been included in a disposal group classified as held for sale. (v) impairment losses recognised during the reporting period in accordance with IAS 36. (IAS 36 requires disclosure of information about the recoverable amount and impairment of goodwill in addition to this requirement.) (vi) net exchange rate differences arising during the reporting period in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates. (vii) any other changes in the carrying amount during the reporting period. (viii) the gross amount and accumulated impairment losses at the end of the reporting period. NO

Page 98 of 189

DISCLOSURE MADE YES e. the amount and an explanation of any gain or loss recognised in the current reporting period that both: (i) relates to the identifiable assets acquired or liabilities assumed in a business combination that was effected in the current or previous reporting period; and (ii) is of such a size, nature or incidence that disclosure is relevant to understanding the combined entitys financial statements. NO

Page 99 of 189

Page 100 of 189

DISCLOSURE MADE N/A

Page 101 of 189

DISCLOSURE MADE N/A

Page 102 of 189

DISCLOSURE MADE N/A

Page 103 of 189

DISCLOSURE MADE N/A

Page 104 of 189

DISCLOSURE MADE N/A

Page 105 of 189

DISCLOSURE MADE N/A

Page 106 of 189

DISCLOSURE MADE N/A

Page 107 of 189

DISCLOSURE MADE N/A

Page 108 of 189

DISCLOSURE MADE N/A

Page 109 of 189

DISCLOSURE MADE N/A

Page 110 of 189

DISCLOSURE MADE N/A

Page 111 of 189

DISCLOSURE MADE N/A

Page 112 of 189

DISCLOSURE MADE N/A

Page 113 of 189

DISCLOSURE MADE N/A

Page 114 of 189

DISCLOSURE MADE N/A

Page 115 of 189

DISCLOSURE MADE N/A

Page 116 of 189

DISCLOSURE MADE N/A

Page 117 of 189

DISCLOSURE MADE N/A

Page 118 of 189

DISCLOSURE MADE N/A

Page 119 of 189

DISCLOSURE MADE N/A

Page 120 of 189

DISCLOSURE MADE N/A

Page 121 of 189

DISCLOSURE MADE N/A

Page 122 of 189

DISCLOSURE MADE N/A

Page 123 of 189

DISCLOSURE MADE N/A

Page 124 of 189

DISCLOSURE MADE N/A

Page 125 of 189

DISCLOSURE MADE N/A

Page 126 of 189

DISCLOSURE MADE N/A

Page 127 of 189

DISCLOSURE MADE N/A

Page 128 of 189

DISCLOSURE MADE N/A

Page 129 of 189

DISCLOSURE MADE N/A

Page 130 of 189

DISCLOSURE MADE N/A

Page 131 of 189

DISCLOSURE MADE N/A

Page 132 of 189

DISCLOSURE MADE N/A

Page 133 of 189

DISCLOSURE MADE N/A

Page 134 of 189

DISCLOSURE MADE N/A

Page 135 of 189

DISCLOSURE MADE N/A

Page 136 of 189

DISCLOSURE MADE N/A

Page 137 of 189

DISCLOSURE MADE N/A

Page 138 of 189

DISCLOSURE MADE N/A

Page 139 of 189

DISCLOSURE MADE N/A

Page 140 of 189

DISCLOSURE MADE N/A

Page 141 of 189

DISCLOSURE MADE N/A

Page 142 of 189

DISCLOSURE MADE N/A

Page 143 of 189

DISCLOSURE MADE N/A

Page 144 of 189

DISCLOSURE MADE N/A

Page 145 of 189

DISCLOSURE MADE N/A

Page 146 of 189

DISCLOSURE MADE N/A

Page 147 of 189

DISCLOSURE MADE N/A

Page 148 of 189

DISCLOSURE MADE N/A

Page 149 of 189

DISCLOSURE MADE N/A

Page 150 of 189

DISCLOSURE MADE N/A

Page 151 of 189

DISCLOSURE MADE N/A

Page 152 of 189

DISCLOSURE MADE N/A

Page 153 of 189

DISCLOSURE MADE N/A

Page 154 of 189

DISCLOSURE MADE N/A

Page 155 of 189

DISCLOSURE MADE N/A

Page 156 of 189

DISCLOSURE MADE N/A

Page 157 of 189

DISCLOSURE MADE N/A

Page 158 of 189

DISCLOSURE MADE N/A

Page 159 of 189

DISCLOSURE MADE N/A

Page 160 of 189

DISCLOSURE MADE N/A

Page 161 of 189

DISCLOSURE MADE N/A

Page 162 of 189

DISCLOSURE MADE N/A

Page 163 of 189

DISCLOSURE MADE N/A

Page 164 of 189

DISCLOSURE MADE N/A

Page 165 of 189

DISCLOSURE MADE N/A

Page 166 of 189

DISCLOSURE MADE N/A

Page 167 of 189

DISCLOSURE MADE N/A

Page 168 of 189

DISCLOSURE MADE N/A

Page 169 of 189

DISCLOSURE MADE N/A

Page 170 of 189

DISCLOSURE MADE N/A

Page 171 of 189

DISCLOSURE MADE N/A

Page 172 of 189

DISCLOSURE MADE N/A

Page 173 of 189

DISCLOSURE MADE N/A

Page 174 of 189

DISCLOSURE MADE N/A

Page 175 of 189

DISCLOSURE MADE N/A

Page 176 of 189

DISCLOSURE MADE N/A

Page 177 of 189

DISCLOSURE MADE N/A

Page 178 of 189

DISCLOSURE MADE N/A

Page 179 of 189

DISCLOSURE MADE N/A

Page 180 of 189

DISCLOSURE MADE N/A

Page 181 of 189

DISCLOSURE MADE N/A

Page 182 of 189

DISCLOSURE MADE N/A

Page 183 of 189

DISCLOSURE MADE N/A

Page 184 of 189

DISCLOSURE MADE N/A

Page 185 of 189

DISCLOSURE MADE N/A

Page 186 of 189

DISCLOSURE MADE N/A

Page 187 of 189

DISCLOSURE MADE N/A

Page 188 of 189

DISCLOSURE MADE N/A

Page 189 of 189