Together good things happen - Airtel

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(c) According to the records of the Company, the dues outstanding of income-tax, sales-tax, wealth-tax, service tax, customs duty and cess on account of any dispute, are as follows: Name of the Statutes Nature of Amount Disputed Period to Forum where the dipute is pending the Dues (in Rs '000) Which it Relates Andhra Pradesh Value Added Tax Act Sales Tax 3,063,609 2000-02; High Court of Andhra Pradesh 2005-08 Gujarat Sales Tax Act Sales Tax 928 2006-07 Commissioner (Appeals) West Bengal Sales Tax Act Sales Tax 402 1996-97 DCCT- Appellate Stage West Bengal Sales Tax Act Sales Tax 14 1997-98 DC Appeals West Bengal Sales Tax Act Sales Tax 280 1995-96 The Commercial Tax Officer West Bengal Sales Tax Act Sales Tax 48,268 2004-05 West Bengal Taxation Tribunal West Bengal Sales Tax Act Sales Tax 324,846 2005-06 DCCT Appeal UP VAT Act Sales Tax 15,356 2003-10 Assessing Officer UP VAT Act Sales Tax 500 2003-04 Joint Commissioner Appeals 2003-04; UP VAT Act Sales Tax 20,290 2005-07; Joint Commissioner Appeals 2009-10 UP VAT Act Sales Tax 7,600 2006-07 High Court of Judicature at Allahabad, Lucknow Bench UP VAT Act Sales Tax 33 2008-09 Assistant Commissioner of Sales tax UP VAT Act Sales Tax 170 2006-07 Commercial Taxes Tribunal Haryana Sales Tax Act Sales Tax 2,797 2002-2004 Joint Commissioner Punjab Sales Tax Act Sales Tax 611 2001-02 Jt. Director (Enforcement) Madhya Pradesh Commercial Sales Tax Act Sales Tax 21,720 1997-01; Deputy Commissioner Appeals 2003-05 UP VAT Act Sales Tax 1,125 2002-05 Assistant Commissioner Karnataka Sales Tax Act Sales Tax 290,920 2005-06 Tribunal Kerela Sales Tax Act Sales Tax 541 2009-10 Intelligence Officer Squad No. V, Palakkad Bihar Value Added Sales Tax Act Sales Tax 11,330 2005-07 Asst. Commissioner Delhi Value Added Tax Act Sales Tax 12,755 2005-06 Sales Tax Department J&K General Sales Tax Sales Tax 18,434 2004-05 High Court Karnataka Sales Tax Act Sales Tax 153 2005-06 High Court Tamil Nadu Sales Tax Act Sales Tax 634,279 1996-2001 Commercial Tax Officer Sub Total (A) 4,476,961 Finance Act, 1994 (Service tax provisions) Service Tax 1,419,854 1997-2009 Customs, Excise and Service Tax Appelate Tribunal Finance Act, 1994 (Service tax provisions) Service Tax 46,844 1999-00; Commissioner (Appeals) 2002-07 Finance Act, 1994 (Service tax provisions) Service Tax 445 2004-06 Deputy Commissioner Appeals Finance Act, 1994 (Service tax provisions) Service Tax 231,020 2000-01; Suppdt. Of Central Excise, Mohali 2005-08 Finance Act, 1994 (Service tax provisions) Service Tax 19,773 2004-07 Commissioner of Excise Finance Act, 1994 (Service tax provisions) Service Tax 334,519 2004-08 Commissioner of Service Tax Finance Act, 1994 (Service tax provisions) Service Tax 5,564 2002-03 Deputy Commissioner of Service Tax (Appeals) Finance Act, 1994 (Service tax provisions) Service Tax 966 1995-96 Additional Commissioner of Service Tax Finance Act, 1994 (Service tax provisions) Service Tax 1,166 2004-05 Assistant Commissioner of Service Tax Finance Act, 1994 (Service tax provisions) Service Tax 3,657 2007-08 Joint Commissioner of Service Tax Sub Total (B) 2,063,807
(x) The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial years. (xi) Based on our audit procedures and as per the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders. (xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. (xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor’s Report) Order, 2003 (as amended) are not applicable to the Company. (xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor’s Report) Order, 2003 (as amended) are not applicable to the Company. (xv) According to the information and explanations given to us, the Company has given guarantee for loans taken by others from bank or financial institutions, the terms and conditions whereof in our opinion are not prima-facie prejudicial to the interest of the Company. (xvi) Based on information and explanations given to us by the management, term loans were applied for the purpose for which the loans were obtained. (xvii)According to the information and explanations given to us and on overall examination of the balance sheet of the Company, funds amounting to Rs 6,449,385 thousand raised on short-term basis (primarily represented by capital creditors) have been used for long-term investment (primarily represented by fixed assets). (xviii) The Company has not made any preferential allotment of shares to parties or companies covered in the register maintained under section 301 of the Companies Act, 1956. (xix) The Company has created security or charge in respect of debentures outstanding at the year end. (xx) The Company has not raised any money by public issues during the year. (xxi) According to the information and explanations furnished by the management, which have been relied upon by us, there were no frauds on or by the Company noticed or reported during the course of our audit except few cases of fraud by employees estimated at Rs 115,105 thousand and by external parties Rs 20,255 thousand detected by the management for which appropriate steps were taken to strengthen controls and Rs 12,519 thousand out of the such estimated amounts, has been recovered by the Company. For S.R. BATLIBOI & ASSOCIATES Firm Registration No. 101049W Chartered Accountants per Prashant Singhal Partner Membership No.93283 Place: Gurgaon Date: April 28, 2010 Bharti <strong>Airtel</strong> Annual Report 2009-10 Name of the Statutes Nature of Amount Disputed Period to Forum where the dipute is pending the Dues (in Rs '000) Which it Relates Income Tax Act, 1961 Income Tax 1,987,175 2001-10 Commissioner of Income Tax (Appeals) Income Tax Act, 1961 Income Tax 5,950 2002-04 High Court 6,420 1997-98 Assessing Officer Income Tax Act, 1961 Income Tax 3,622,088 2005-06 Dispute Resolution Panel Income Tax Act, 1961 Income Tax 102,786 2001-05; Income Tax Appelate Tribunal Sub Total (C) 5,724,420 2006-07 Customs Act-1962 Custom Act 2,167,154 2001-04; Customs, Excise and Service Tax Appelate 2007-08 Tribunal, Bangalore Customs Act-1962 Custom Act 31,194 2005-06 Customs, Excise and Service Tax Appelate Sub Total (D) 2,198,348 Tribunal, Chennai Of the above cases, total amount deposited in respect of Sales Tax is Rs 914,162 thousand, Service Tax is Rs 5,484 thousand, Income Tax is Rs 847,803 thousand and Custom Duty is Rs 57,725 thousand. 67
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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
Page 17 and 18: CEO (India & South Asia)’s Airtel
Page 19 and 20: Airtel Experience Last year was tru
Page 21 and 22: Together good things happen custome
Page 23 and 24: Together good things happen Bharti
Page 25 and 26: Bharti Airtel Annual Report 2009-10
Page 27 and 28: Taking everybody along Bharti Airte
Page 33 and 34: Photos by Amit Bhatia, Legal & Regu
Page 35 and 36: exemption to the Company from attac
Page 37 and 38: In July 2009, the Company has sub-d
Page 39 and 40: egarding compliance of conditions o
Page 41 and 42: Information regarding the Employees
Page 43 and 44: • Restriction on Sale of Equity O
Page 45 and 46: FINANCIAL PERFORMANCE (Amount in Rs
Page 47 and 48: INTERNAL CONTROL SYSTEMS The Compan
Page 49 and 50: consent. The appointments of such d
Page 51 and 52: g) Tenure of independent directors
Page 53 and 54: directors will be entitled to commi
Page 55 and 56: - Matters required to be included i
Page 57 and 58: Key Responsibilities Key responsibi
Page 59 and 60: Special resolutions passed at the l
Page 61 and 62: MEANS OF COMMUNICATION The quarterl
Page 63 and 64: Distribution of shareholding By num
Page 65 and 66: The Board of directors, Bharti Airt
Page 67: Annexure referred to in paragraph 4
Page 73 and 74: Particulars C. Cash flow from finan
Page 75 and 76: Particulars SCHEDULE : 3 SECURED LO
Page 77 and 78: Particulars SCHEDULE : 6 INVESTMENT
Page 79 and 80: Particulars SCHEDULE : 9 CASH AND B
Page 83 and 84: SCHEDULE: 21 STATEMENT OF SIGNIFICA
Page 85 and 86: Forward Exchange Contracts covered
Page 87 and 88: Minimum Alternative Tax (MAT) credi
Page 89 and 90: Unless otherwise stated below, the
Page 91 and 92: 6. Employee benefits a) During the
Page 93 and 94: e) The estimates of future salary i
Page 95 and 96: epayable on disconnection, net of o
Page 97 and 98: 2008-09 Particulars Year ended Purc
Page 99 and 100: ) Details of trade investments purc
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 119 and 120:
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Particulars C. Cash flow from finan
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Particulars SCHEDULE : 2 (Cont.) Pr
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Particulars SCHEDULE : 6 INVESTMENT
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Particulars SCHEDULE : 12 CURRENT L
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ecognised over the period of servic
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Standard 15 (revised), “Employee
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SCHEDULE: 22 NOTES TO THE FINANCIAL
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obligations fully due to certain no
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c) Reconciliation of opening and cl
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Joint Venture Entities: b) The Comp
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13. Particulars of securities charg
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Related Party Transaction for 2009-
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(Rs '000) Related Party Transaction
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17. Leases a) Operating Lease - As
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d) 2006 Plan under the Old Scheme T
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24. As at March 31, 2010 the accumu
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Notice is hereby given that the fif
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EXPLANATORY STATEMENT (Under sectio
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Mr. Rakesh Bharti Mittal Date of bi
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To Karvy Computershare Private Limi
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Bharti Airtel Limited, Bharti Cresc
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Together good things happen - Airtel

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