Together good things happen - Airtel

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Related Party Transaction for 2008-09 (Rs '000) Nature of transaction Bharti Bharti Jersey Bharti Centum Bharti Jataayu Bharti Axa Bharti Axa Bharti Sunil Bharti Akhil Manoj Foundation Televentures <strong>Airtel</strong> Enterprises Learning Retail Software General Investment Teleports Mittal Gupta Kohli Employees Limited Limited Limited Private Ltd Insurance Managers Limited Welfare Trust Limited Co Ltd Private Limited Purchase of fixed assets - - - - - - - - - - - - - Sale of fixed assets - - - - 13,650 - - - - - - - - Purchase of Investments (Mutual Fund) - - - - - - - - (1,210,027) - - - - Sales of Investments (Mutual Fund) - - - - - - - - 911,887 - - - - Rendering of services - - 43,559 1,134 45 17,184 1,552 - - - - - - Receiving of services - - (477) - (208,560) - - (10,076) - - - - - Fund transferred/includes expenses incurred on behalf of others - - - 71 28,850 13,694 - - - - - - - Fund received/includes expenses incurred on behalf of Company - - - (223,834) (6,149) (3,936) - (634) - - - - - Employee related transaction incurred on behalf of others - - - - - 5,131 - - - - - - - Employee related transaction incurred on behalf of Company (3,079) - (365) (6,210) (25,721) (8,248) - - - - - - - Salary - - - - - - - - - - 228,977 60,579 25,958 Donation 103,188 - - - - - - - - - - - - Amount received on exercise of ESOP options - (11,679) - - - - - - - - - - - Security deposit/Advances paid - - - - - - - - - - - - - Security deposit/Advances received - - - - - - - - - - - - - Subscription to share capital - - - - - - - - - - - - - Share Capital issued - - - - - - - - - - - - - Loan from Group Companies - - - - - - - - - - - - - Loan to Related Party - - - - - - - - - - - - - Subscription to share capital - - - - - - - - - 14,700 - - - Interest received on fund transferred - - - - - - - - - - - - - Closing balance - 107,364 31,672 470 62,669 6,210 230 - - - (110,000) (24,733) (7,989) Unsecured Loan - - - - - - - - - - - - - Creditors - - - - - - - - - - (110,000) (24,733) (7,989) Loans and Advances - 107,364 31,672 470 62,669 6,210 230 - - - - - - Debtors - - - - - - - - - - - - - Closing Balance - 107,364 31,672 470 62,669 6,210 230 - - - (110,000) (24,733) (7,989) Maximum Loans and Advances outstanding during the year - 107,364 31,672 470 62,669 6,210 230 - - - - - - Guarantees and Collaterals - - - - - - - - - - - - -
17. Leases a) Operating Lease – As a Lessee The lease rentals charged during the year for cancelable/non-cancelable leases relating to rent of building premises and cell sites as per the agreements and maximum obligation on long-term non-cancelable operating leases are as follows: (Rs '000) Particulars As at As at March 31, 2010 March 31, 2009 Lease Rentals (Excluding Lease Equalisation Reserve) 21,948,740 11,509,517 Obligations on non cancelable leases : Not later than one year 23,585,093 17,248,848 Later than one year but not later than five years 49,694,452 41,385,602 Later than five years 77,296,795 59,479,474 Total 150,576,341 118,113,924 The escalation clause includes escalation ranging from 0 to 50%, includes option of renewal from 1 to 99 years and there are no restrictions imposed on lease arrangements. b) Operating Lease – As a Lessor i) The Group has entered into a non–cancelable lease arrangement to provide approximately 100,000 Fiber pair kilometers of dark fiber on indefeasible right of use (IRU) basis for a period of 18 years. The lease rental receivable proportionate to actual kilometers accepted by the customer is credited to the Profit and Loss Account on a straight – line basis over the lease term. Due to the nature of the transaction, it is not possible to compute gross carrying amount, depreciation for the year and accumulated depreciation of the asset given on operating lease as at March 31, 2010 and accordingly, disclosures required by AS 19 are not provided. ii) The future minimum lease payments receivable are: (Rs '000) Particulars As at As at March 31, 2010 March 31, 2009 Not later than one year 20,057,132 17,353,227 Later than one year but not later than five years 47,404,245 34,081,089 Later than five years 37,854,066 21,035,282 Total 105,315,443 72,469,598 iii) The Group has given VSAT assets like BIT, routers, modem etc on operating lease to various customers, which are capitalized under fixed assets. The agreements are cancelable and are generally of one year. The lease rentals recognized in the Profit and Loss Account on a straight line basis over the lease term amount to Rs 151,337 thousand (March 31, 2009 Rs 127,258 thousand). iv) The Group has entered into a non-cancelable lease arrangement to provide access to the Passive Infrastructure located at 12 Circles on indefeasible right Bharti <strong>Airtel</strong> Annual Report 2009-10 of use (IRU) basis for a period of 6 months to its Joint Venture Company, Indus Tower Limited from January 1, 2009. The term is extendable for further period of six (6) months, until such time as the Passive Infrastructure is transferred to its Joint Venture Company, Indus Tower Limited. However the term shall not be automatically extended for any period beyond an aggregate period of two (2) years. The term may be extended for a further period of one (1) year beyond a two (2) year period by mutual agreement. The Group has credited lease rental receivable to the Profit and Loss Account on a straight-line basis over the lease term amounting to Rs 2,796,760 thousand (March 31, 2009 – Rs 699,190 thousand) c) Finance Lease – As a Lessor The Company had given Broadband Interactive Terminals (‘BIT’) on finance lease. The gross investment in assets given on finance lease and their present value as at March 31, 2010 is NIL. As at March 31, 2009 Particulars Gross Unearned (Rs '000) Present Investment Finance Income Value Not later than one year Later than one year but 2,436 163 2,273 not later than five years 218 2 216 Total 2,654 165 2,489 d) Finance Lease – As a Lessee i) The Company entered into a composite IT outsourcing agreement, whereby the vendor supplied fixed assets and IT related services to the Company. Based on the risks and rewards incident to the ownership, the fixed assets received are accounted for as a finance lease transaction. Accordingly, the asset and liability are recorded at the fair value of the leased assets at the time of receipt of the assets, since it is not possible for the Company to determine. These assets are depreciated over their useful lives as in the case of the Company’s own assets. Since the entire amount payable to the vendor towards the supply of fixed assets during the year is accrued, there are no minimum lease payments outstanding as at the year-end in relation to these assets and accordingly, other disclosures as per AS 19 are not applicable. There are no restrictions imposed on lease arrangements. ii) Finance lease obligation of the Group as at 31 March, 2010 is as follows: (Rs '000) Particulars Future minimum Interest Present lease payments Value Not later than one year 49,257 12,804 36,452 Later than one year but not later than five years 73,414 9,581 63,833 Later than five years - - - Total 122,671 22,385 100,285 151
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Together good things happen... Bhar
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Table of contents 1 2 3 4 5 6 7 8 9
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Corporate history and Top 30 shareh
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Awards & honours With a belief that
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Chairman’s message Closer home, w
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To be provided Akhil Gupta Chua Soc
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Pulak Chandan Prasad Rakesh Bharti
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Bharti Airtel Annual Report 2009-10
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CEO (India & South Asia)’s Airtel
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Airtel Experience Last year was tru
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Together good things happen custome
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Together good things happen Bharti
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Taking everybody along Bharti Airte
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Photos by Amit Bhatia, Legal & Regu
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exemption to the Company from attac
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In July 2009, the Company has sub-d
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egarding compliance of conditions o
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Information regarding the Employees
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• Restriction on Sale of Equity O
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FINANCIAL PERFORMANCE (Amount in Rs
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INTERNAL CONTROL SYSTEMS The Compan
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consent. The appointments of such d
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g) Tenure of independent directors
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directors will be entitled to commi
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- Matters required to be included i
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Key Responsibilities Key responsibi
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Special resolutions passed at the l
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MEANS OF COMMUNICATION The quarterl
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Distribution of shareholding By num
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The Board of directors, Bharti Airt
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Annexure referred to in paragraph 4
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(x) The Company has no accumulated
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Particulars C. Cash flow from finan
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Particulars SCHEDULE : 3 SECURED LO
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Particulars SCHEDULE : 6 INVESTMENT
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Particulars SCHEDULE : 9 CASH AND B
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SCHEDULE: 21 STATEMENT OF SIGNIFICA
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Forward Exchange Contracts covered
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Minimum Alternative Tax (MAT) credi
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Unless otherwise stated below, the
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6. Employee benefits a) During the
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e) The estimates of future salary i
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epayable on disconnection, net of o
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2008-09 Particulars Year ended Purc
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) Details of trade investments purc
Page 101 and 102: Bharti Airtel Annual Report 2009-10
Page 103 and 104: Related Party Transaction for 2009-
Page 111 and 112: 24.Operating lease - As a Lessee Th
Page 113 and 114: (v) The Information concerning stoc
Page 115 and 116: Particulars As at As at March 31, 2
Page 117 and 118: Auditors' Report to The Board of Di
Page 121 and 122: Particulars C. Cash flow from finan
Page 123 and 124: Particulars SCHEDULE : 2 (Cont.) Pr
Page 125 and 126: Particulars SCHEDULE : 6 INVESTMENT
Page 127 and 128: Particulars SCHEDULE : 12 CURRENT L
Page 133 and 134: ecognised over the period of servic
Page 135 and 136: Standard 15 (revised), “Employee
Page 137 and 138: SCHEDULE: 22 NOTES TO THE FINANCIAL
Page 139 and 140: obligations fully due to certain no
Page 141 and 142: c) Reconciliation of opening and cl
Page 143 and 144: Joint Venture Entities: b) The Comp
Page 145 and 146: 13. Particulars of securities charg
Page 151: (Rs '000) Related Party Transaction
Page 155 and 156: d) 2006 Plan under the Old Scheme T
Page 159 and 160: 24. As at March 31, 2010 the accumu
Page 161 and 162: Notice is hereby given that the fif
Page 163 and 164: EXPLANATORY STATEMENT (Under sectio
Page 165: Mr. Rakesh Bharti Mittal Date of bi
Page 169: To Karvy Computershare Private Limi
Page 172: Bharti Airtel Limited, Bharti Cresc
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Together good things happen - Airtel

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