Year Fixed Assets and Depreciation2010 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 themanner specified under schedule XIV to the Companies Act, 1956.

2011 Fixed Assets are stated at actual cost less accumulated depreciation. Depreciation on FixedAssets is computed on written down value method at the rates and in the manner specified under schedule XIV to the Companies Act, 1956.

2012 Fixed Assets are stated at actual cost less accumulated depreciation. Depreciation on FixedAssets 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 Fixed Assets2010 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 costof acquisition or construction, including incidental expenses related to such acquisition or construction

2011 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.

2012 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-in-progress, comprising direct cost and related incidental expenses, is carried at cost, net of tax/ duty credits availed.

Year Depreciation/Amortization

2010 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.

2011 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 datethe 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 aStraight-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.

2012 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 Fixed Assets2010 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.

2011 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.

2012 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 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..

Year DEPRECIATION & AMORTIZATION2010 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.

2011 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

2012 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 air-conditioners 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 management’s 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 management’s 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 lifeBuildings - 30 YearsPlant & Equipment - 7 YearsFurniture and Fixtures - 7 YearsVehicle - 5 YearsComputers - 5 YearsLeasehold Improvements - 15 Years

DeepIndustries

Year Fixed Assets and Depreciation2010 (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.

2011 (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..

2012 (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..