Solution no.3 Profit & Loss account of ITPL Finance Ltd.

for the year ended 31st March 2009 Particulars Amount Rs To Loss on Sale of Investments Amount Rs. 11,25,775 By Interest on Fixed deposits with banks Add: Interest accrued Particulars Amount Rs. Amount Rs.

54,278 364

Bank Charges Legal and Professional charges Add: Payable Stationary Audit Fees Travelling and Conveyance Preliminary Expenses written off 4,600 4,400

110 By Net loss for the year Carried down

11,05,113

9,000 1,200 5,000 2,250 16,420

Total

11,59,755 Total

11,59,755

Profit & Loss appropriation account of ITPL Finance Ltd for the year ended 31st March 2009 Particulars Amount Rs. Amount Rs. Particulars Amount Rs. Amount Rs.

Balance as on 1st April 2008

4,28,23,210

Balance carried to balance sheet (Deficit)

4,39,28,323

Net Loss for the year Brought down

11,05,113

Total

4,39,28,323

Total

4,39,28,323

Balance Sheet of ITPL Finance Ltd. as on 31st March 2006 Liabilities Amount Rs. 1.Share Capital Authorized share Capital: 50,00,000 Equity shares of Rs.10 each Issued, subscribed, Called up and Paid up: 40,00,000 Equity Shares of Rs 10 each. Out of above, 20,00,000 shares issued at a premium of Rs.5 each 2.Reserves and Surplus Share Premium 3.Current Liabilities and Provisions 5,00,00,000 Amount Rs. 1. Fixed Assets 2. Investments Equity shares of NDFC Ltd. 49,75,000 Assets Amount Rs. Amount Rs.

3. Current Assets, loans and advances A. Current Assets: Cash in hand 4,00,00,000 Cash at bank in current account Fixed deposits with banks Add: Interest accrued B. Loans & Advances: Tax deducted at source 4. Miscellaneous Expenditure, to the extent not written off 10,55,367 364 10,55,731 1,256 18,550

1,00,00,000

37,420

Preliminary expenses Less: Written off 32,840 16,420 A. Current Liabilities: Expenses payable Audit Fee Legal and professional charges Travelling and conveyance B. Provisions Total 5,00,32,700 Total 5,00,32,700 21,050 5,000 4,400 2,250 32,700 Balance in Profit and Loss A/C (Deficit) 16,420 4,39,28,323