Year

2010

2011

2012

Fixed Assets and Depreciation

Fixed Assets are stated at actual cost less accumulated depreciation.
Depreciation
on Fixed Assets is computed on written down value method at the rates
and in the
manner specified under schedule XIV to the Companies Act, 1956.
Fixed Assets are stated at actual cost less accumulated depreciation.
Depreciation on Fixed
Assets is computed on written down value method at the rates and in the
manner specified under schedule XIV to the Companies Act, 1956.
Fixed Assets are stated at actual cost less accumulated depreciation.
Depreciation on Fixed
Assets is computed on written down value method at the rates and in the
manner specified under schedule XIV to the Companies Act, 1956.

Innovation Software Export

IndiaBulls
Year
2010

2011

2012

Fixed Assets

Tangible fixed assets are stated at cost, net of tax /duty credits availed,
less accumulated depreciation and impairment losses, if any. Cost
includes original cost of acquisition or installation, including incidental
expenses related to such acquisition.
Intangible assets are stated at cost, net of tax / duty credits availed less
accumulated amortization and impairment losses, if any. Cost includes
original cost
of acquisition or construction, including incidental expenses related to
such acquisition or construction
Tangible fixed assets are stated at cost, net of tax / duty credits availed,
less accumulated depreciation and impairment losses, if any. Cost
includes original cost of acquisition or installation, including incidental
expenses related to such acquisition.
Intangible assets are stated at cost, net of tax / duty credits availed less
accumulated amortization and impairment losses, if any. Cost includes
original cost of acquisition and construction, including incidental expenses
related to such acquisition or construction.
Tangible fixed assets are stated at cost, net of tax/duty credits availed,
less accumulated depreciation and impairment losses, if any. Cost
includes original cost of acquisition and installation, including incidental
expenses related to such acquisition or installation.
Fixed assets acquired and put to use for the purpose of the
project are capitalized and depreciation thereon is included in
Expenditure during construction pending capitalization till

commissioning of the project.

Intangible assets are stated at cost, net of tax/ duty credits availed less
accumulated amortization and impairment losses, if any. Cost includes
original cost of acquisition and construction, including incidental expenses
related to such acquisition or construction.
Subsequent expenditure on an intangible asset after its
purchase/ completion is recognized as an expense when incurred
unless it is probable that such expenditure will enable the asset
to generate future economic benefits in excess of its originally
assessed standards of performance and such expenditure can be
measured and attributed to the asset reliably, in which case such
expenditure is added to the cost of the asset. Capital work-inprogress, comprising direct cost and related incidental expenses,
is carried at cost, net of tax/ duty credits availed.
Year
2010

2011

2012

Depreciation/Amortization

Depreciation on fixed assets is provided on the straightline method at the

rates and in the manner prescribed under Schedule XIV of the Companies
Act, 1956. Depreciation on additions / deletions to fixed assets is provided
on pro-rata basis from / upto the date the asset is put to use/discarded.
Individual assets costing less than Rs. 5,000 are fully depreciated in the
year of purchase. Intangible assets consisting of Software are amortised
on a straight line basis over a period of four years from the date when the
assets are available for use.
Depreciation on fixed assets is provided on the Straight-Line Method at
the rates and in the manner prescribed under Schedule XIV of the
Companies Act, 1956. Depreciation on additions / deletions to fixed assets
is provided on a pro-rata basis from / upto the date
the asset is put to use/discarded. Individual assets costing less than Rs.
5,000 are fully depreciated in the year of purchase. The acquisition
value of Leasehold Land is amortized over the period of the
Lease. The right-to-use leased asset (land) is amortised on a
Straight-Line basis over the lease term. Intangible assets consisting
of Software are amortized on a Straight Line basis over a period of four
years from the date when the assets are available for use.
Depreciation on fixed assets is provided on the Straight-Line Method at
the rates and in the manner prescribed under Schedule XIV to the
Companies Act, 1956. Depredation on additions/ deletions to fixed assets
is provided on a pro-rata basis from/ upto the datethe asset is put to use/
discarded. Individual assets costing less than Rs. 5,000 each are fully
depreciated in the year of capitalisation. The acquisition value of
Leasehold Land is amortized over the period of the Lease. Intangible
assets consisting of Software are amortized on a Straight Line basis over a
period of four years from the date when the assets are available for use.
The estimated useful life of the intangible assets and the

amortisation period are reviewed at the end of each financial year

and the amortisation method is revised to reflect the changed
pattern.

GujratFlurochemical
Year
2010

2011

2012

Fixed Assets
Freehold land is carried at cost. Leasehold Land is carried at cost,
comprising of lease premium and expenses on acquisition thereof, as
reduced by accumulated amortisation. Other Fixed Assets are carried at
cost less accumulated depreciation. Cost comprises of purchase price /
cost of construction, including any expenses attributable to bring the
asset to its working condition for its intended use, and is net of CENVAT &
VAT Credit.
Freehold land is carried at cost. Leasehold land is carried at cost,
comprising of lease premium and expenses on acquisition thereof, as
reduced by accumulated amortisation. Other Fixed Assets are carried at
cost less accumulated depreciation. Cost comprises of purchase price /
cost of construction, including any expenses attributable to bring the
asset to its working condition for its intended use, and is net of CENVAT &
VAT Credit.
i. In respect of assets other than those mentioned in (ii) below:
Freehold land is carried at cost. Leasehold Land is carried at cost,
comprising of lease premium and expenses on acquisition thereof, as
reduced by accumulated amortisation. Other Fixed Assets are carried at
cost less accumulated depreciation.
ii. In respect of fixed assets of IRL, acquired under slump sale
from GFL during the year ended 31st March 2012:
On 31st March 2012, IRL has revalued the fixed assets of the
Wind Energy Business, acquired under slump sale, as per the
report of government approved valuer. In these CFS, Rs. 6232.48
lacs is credited to revaluation reserve with corresponding
additions to net block of respective fixed assets which represents
the revalued amount of the fixed assets, over and above the
carrying value of such fixed assets by GFL. The cost of fixed
assets comprises of purchase price / cost of construction,
including any expenses attributable to bring the asset to its
working condition for its intended use, and is net of CENVAT &
VAT Credit. Borrowing costs directly attributable to acquisition or
construction of qualifying fixed assets are capitalised. In respect
of accounting period commencing on or after 1st April 2011,
consequent to the amendment of para 46 of AS 11, The Effects of
Changes in Foreign Exchange Rates, notified under the

Year
2010

2011

2012

Companies (Accounting Standards) Rules, 2006, as stated in para

(j)(ii), the cost of depreciable capital assets includes foreign
exchange differences arising on translation of long term foreign
currency monetary items..
DEPRECIATION & AMORTIZATION
i) On tangible fixed assets: Cost of Leasehold Land is amortised over the
period of the lease. Depreciation on other Fixed Assets, excluding Freehold
Land, is provided on straight line method at the rates and in the manner
specified in Schedule XIV to the Companies Act, 1956. Fixed Assets
costing Rs 5,000 or less are fully depreciated in the year of acquisition.
Based on technical opinion Windmill is considered as a continuous process
plant and depreciation is provided at the rate applicable thereto.
ii) On intangible fixed assets: Cost of Technical Know-how is amortized
equally over a period of ten years and cost of Software is amortized @
16.21% p.a. on straight line method.
i) On tangible fixed assets: Cost of Leasehold land is amortised over the
period of the lease. Depreciation on other Fixed Assets, excluding Freehold
land, is provided on straight line method at the rates and in the manner
specified in Schedule XIV to the Companies Act, 1956. Fixed Assets
costing Rs. 5,000 or less are fully depreciated in the year of acquisition.
Based on technical opinion Windmill is considered as a continuous process
plant and depreciation is provided at the rate applicable thereto.
ii) On intangible fixed assets: Cost of Technical Know-how is amortized
equally over a period of ten years and cost of Software is amortized @
16.21% p.a. on straight line method
i) On tangible fixed assets:
Cost of leasehold land is amortised over the period of the lease.
Depreciation on other Fixed Assets, excluding freehold land, is provided on
straight line method as under:
- On leasehold improvements, electrical installations and airconditioners in leased premises, over the period of useful life on
the basis of the respective agreements or the useful life as per
Schedule XIV of the Companies Act, 1956, whichever is shorter.
- On other fixed assets, at the rates and in the manner specified in
Schedule XIV to the Companies Act, 1956. Fixed Assets costing Rs 5,000
or less are fully depreciated in the year of acquisition. Based on technical
opinion Windmill is considered as a continuous process plant and
depreciation is provided at the rate applicable thereto.
ii) On intangible fixed assets:
Cost of technical know-how is amortized equally over a period of ten years
and cost of Software is amortized @ 16.21% p.a. on straight line method.
Cost of Film Distribution Rights (and corresponding prints cost)
and Negative Rights is amortized in proportion to the
managements estimate of gross revenues expected to be

realized over a period. Cost of movie script acquired is amortized

over a period of five year from the date of acquisition.
In respect of GFL Americas:
Depreciation on all fixed assets (except land) is provided under
straight line method on the basis of the managements estimate
of the useful life of a fixed asset, at the time of acquisition of the
asset or of the remaining useful life on a subsequent review.
The estimated useful life is as under:
Asset Category - Estimated useful life
Buildings - 30 Years
Plant & Equipment - 7 Years
Furniture and Fixtures - 7 Years
Vehicle - 5 Years
Computers - 5 Years
Leasehold Improvements - 15 Years

DeepIndustries
Year
2010

2011

Fixed Assets and Depreciation

(a) Fixed Assets are stated at cost net of cenvat, less accumulated
depreciation. All cost, including financing cost till commencement of
assets put to use, effect of foreign exchange contracts and adjustment
arising from exchange rate variations attributable to the fixed assets are
capitalised.
(b) Expenditure including finance costs related to borrowed funds for the
fixed assets incurred on projects under implementation are included under
Capital Work in Progress. These expenses are transferred to fixed assets
on commencement of respective projects.
(c) (i) Depreciation on Shed & construction at contactor site is provided
considering the period of the initial contract.
(ii) Depreciation on Tanker & Office Building is provided on Written down
Value Method as per the rate prescribed in Schedule XIV and in
accordance with Section 205(2)(b) of the Companies Act, 1956.
(iii) Depreciation on Fixed Assets other than stated above in Para (i) & (ii)
is provided on Straight Line Method as per rate prescribed in Schedule XIV
and in accordance with Section 205(2)(b) of the Companies Act, 1956,
considering the life of the Asset.
(a) Fixed Assets are stated at cost net of cenvat, less accumulated
depreciation. All cost, including financing cost till commencement of
assets put to use, effect of foreign exchange contracts and adjustment
arising from exchange rate variations attributable to the fixed assets are
capitalised.

2012

(b) Expenditure including finance costs related to borrowed funds for the
fixed assets incurred on projects under implementation are included under
Capital Work in Progress. These expenses are transferred to fixed assets
on commencement of respective projects.
(c) (i) Depreciation on Shed & construction at contactor site is provided
considering the period of the initial contract.
(ii) Depreciation on Tanker & Office Building is provided on Written down
Value Method as per the rate prescribed in Schedule XIV and in
accordance with Section 205(2)(b) of the Companies Act, 1956.
(iii) Depreciation on Fixed Assets other than stated above in Para (i) & (ii)
is provided on Straight Line Method as per rate prescribed in Schedule XIV
and in accordance with Section 205(2)(b) of the Companies Act, 1956,
considering the life of the Asset..
(a) Fixed Assets are stated at cost net of cenvat, less accumulated
depreciation. All cost, including financing cost till commencement of
assets put to use, effect of foreign exchange contracts and adjustment
arising from exchange rate variations attributable to the fixed assets are
capitalised.
(b) Expenditure including finance costs related to borrowed funds for the
fixed assets incurred on projects under implementation are included under
Capital Work in Progress. These expenses are transferred to fixed assets
on commencement of respective projects.
(c) (i) Depreciation on Shed & construction at contactor site is provided
considering the period of the initial contract.
(ii) Depreciation on Tanker & Office Building is provided on Written down
Value Method as per the rate prescribed in Schedule XIV and in
accordance with Section 205(2)(b) of the Companies Act, 1956.
(iii) Depreciation on Fixed Assets other than stated above in Para (i) & (ii)
is provided on Straight Line Method as per rate prescribed in Schedule XIV
and in accordance with Section 205(2)(b) of the Companies Act, 1956,
considering the life of the Asset..