final accounts 2009-10

8/8/2019 Final Accounts 2009-10

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Auditors Report

TO THE MEMBERS OF

BOMBAY STOCK EXCHANGE LIMITED

1. We have audited the attached Balance Sheet ofBOMBAYSTOCK EXCHANGE LIMITED ("the Company") asat 31st March, 2010, the Profit and Loss Account and the CashFlow Statement of the Company for the year ended on thatdate, both annexed thereto. These financial statements arethe responsibility of the Company's Management. Ourresponsibility is to express an opinion on these financialstatements based on our audit.

2. We conducted our audit in accordance with the auditingstandards generally accepted in India. Those Standards requirethat we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free ofmaterial misstatements. An audit includes examining, on a testbasis, evidence supporting the amounts and the disclosures inthe financial statements. An audit also includes assessing theaccounting principles used and the significant estimates madeby the Management, as well as evaluating the overall financial

statement presentation. We believe that our audit provides areasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003(CARO) issued by the Central Government in terms of Section227(4A) of the Companies Act, 1956, we enclose in theAnnexure a statement on the matters specified in paragraphs4 and 5 of the said Order.

4. Further to our comments in the Annexure referred to inparagraph 3 above, we report as follows:

(a) we have obtained all the information and explanationswhich to the best of our knowledge and belief werenecessary for the purposes of our audit;

(b) in our opinion, proper books of account as required bylaw have been kept by the Company so far as it appearsfrom our examination of those books;

(c) the Balance Sheet, the Profit and Loss Account and theCash Flow Statement dealt with by this report are inagreement with the books of account;

(d) in our opinion, the Balance Sheet, the Profit and LossAccount and the Cash Flow Statement dealt with by thisreport are in compliance with the Accounting Standardsreferred to in Section 211(3C) of the Companies Act, 1956;

(e) in our opinion and to the best of our information andaccording to the explanations given to us, the said accountsgive the information required by the Companies Act, 1956in the manner so required and give a true and fair view inconformity with the accounting principles generallyaccepted in India:

(i) in the case of the Balance Sheet, of the state of affairsof the Company as at 31st March, 2010;

(ii) in the case of the Profit and Loss Account, of the profitof the Company for the year ended on that date and

(iii) in the case of the Cash Flow Statement, of the cashflows of the Company for the year ended on that date.

5. On the basis of the written representations received from theDirectors as on 31st March, 2010 taken on record by theBoard of Directors, none of the Directors is disqualified as on31st March, 2010 from being appointed as a director in termsof Section 274(1)(g) of the Companies Act, 1956.

For DELOITTE HASKINS & SELLS

Chartered Accountants(Registration No. 117366W)

Nalin M. ShahPlace: Mumbai PartnerDate: 20th April, 2010 (Membership No.15860)


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35

BSE Annual Report 2009-10

ANNEXURE TO THE AUDITORS' REPORT

(Referred to in paragraph 3 of our report of even date)

i. Having regard to the nature of the Company's business/activities/result/transactions etc., clauses (ii), (viii), (x), (xi), (xii),(xiii), (xvi), (xix), (xx) of CARO are not applicable.

ii. In respect of its fixed assets:

(a) The Company has maintained proper records showing fullparticulars, including quantitative details and situation ofthe fixed assets.

(b) The fixed assets were physically verified during the yearby the Management in accordance with a regularprogramme of verification which, in our opinion, providesfor physical verification of all the fixed assets at reasonableintervals. According to the information and explanationgiven to us, no material discrepancies were noticed onsuch verification.

(c) The fixed assets disposed off during the year, in our opinion,do not constitute a substantial part of the fixed assets ofthe Company and such disposal has, in our opinion, notaffected the going concern status of the Company.

iii. According to the information and explanations given to us,the Company has neither granted nor taken any loans, securedor unsecured, to/from companies, firms or other parties listedin the Register maintained under Section 301 of the CompaniesAct, 1956.

iv, In our opinion and according to the information andexplanations given to us, there is an adequate internal controlsystem commensurate with the size of the Company and thenature of its business with regard to purchases of fixed assetsand the sale of services. During the course of our audit, wehave not observed any major weakness in such internal controlsystem.

v. To the best of our knowledge and according to the informationand explanations given to us, there are no contracts orarrangements particulars of which needed to be entered inthe Register maintained under Section 301 of the CompaniesAct, 1956.

vi. According to the information and explanations given to us,the Company has not accepted any deposit from the publicduring the year within the meaning of Sections 58A & 58AAor any other relevant provisions of the Companies Act, 1956.

vii. In our opinion, the internal audit functions carried out duringthe year by firm of Chartered Accountants appointed by theManagement have been commensurate with the size of theCompany and the nature of its business.

viii. According to the information and explanations given to us inrespect of statutory dues:

(a) The Company has been regular in depositing undisputeddues, including Provident Fund, Investor Education andProtection Fund, Employees' State Insurance, Income-tax,Sales Tax, Wealth Tax, Service Tax, Custom Duty,Securities Transaction Tax, Cess and other materialstatutory dues applicable to it with the appropriateauthorities.

(b) There were no undisputed amounts payable in respect ofthe Income-tax, Wealth Tax, Custom Duty, Cess and othermaterial statutory dues in arrears as at 31st March, 2010for a period of more than six months from the date theybecame payable.

(c) Details of dues of Income-tax, Sales Tax, Wealth Tax,Service Tax, Custom Duty and Cess which have not beendeposited as on 31st March, 2010 on account of disputes

are given below:

Statute Nature of Amount Period to Forum

the Dues (in Rs.) which the where

amount Dispute

relates is pending

(Financial

Years)

Service Tax Service tax 2,829,231 2003-04 Tribunal

Act and Penalty

3,854,407 2004-06 Appellate

Authorities

Income Tax Income Tax 1,165,423 2006-07 Appellate

Act Authorities

ix. Based on our examination of the records and evaluations ofthe related internal controls, the Company has maintainedproper records of the transactions and contracts in respect ofits dealing in shares securities, debentures and otherinvestments and timely entries have been made therein. Theaforesaid securities have been held by the Company in its ownname, except to the extent of exemption granted under Section49 of the Companies Act, 1956 .

x. In our opinion and according to the information andexplanations given to us, the terms and conditions of theguarantees given by the Company for loans taken by othersfrom financial institution, are not prima facie prejudicial to theinterests of the Company.

xi. In our opinion and according to the information andexplanations given to us and on an overall examination of theBalance Sheet, we report that funds raised on short-term basishave not been used during the year for long- term investment.

xii. According to the information and explanations given to us,the Company has not made preferential allotment of sharesto parties and companies covered in the Register maintainedunder Section 301 of the Companies Act, 1956.

xiii. To the best of our knowledge and according to the informationand explanations given to us, no fraud by or on the Companyhas been noticed or reported during the year.

For DELOITTE HASKINS & SELLS

Chartered Accountants(Registration No. 117366W)

Nalin M. Shah

Place: Mumbai PartnerDate: 20th April, 2010 (Membership No.15860)


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BALANCE SHEET AS AT 31ST MARCH, 2010

AS AT 31ST MARCH, 2009PARTICULARS Schedule

Rupees Rupees Rupees Rupees

I SOURCES OF FUNDS

1. Shareholders' funds

(a) Share Capital A 103,277,772 102,377,772

(b) Reserves & Surplus B 18,817,369,004 18,920,646,776 17,179,519,832 17,281,897,604

2. Share Application Money 80,000 110,000

3. Secured Loan C 9,069,773

4. Unsecured Loan D 1,853,402

5. Deposits from Trading Members 2,782,000,000 2,638,000,000

(See Note 14 of Schedule "N")

6. Deferred Tax Liability 1,478,000 45,233,000

(See Note 5 of Schedule "N")

Total 21,713,274,549 19,967,094,006

II APPLICATION OF FUNDS

1. Fixed Assets E

(a) Gross Block 3,863,878,9343,646,029,862

(b) Less: Depreciation 3,143,860,453 2,896,416,607

(c) Net Block 720,018,481 749,613,255

(d) Capital work - in - progress 134,352,756 854,371,237 70,581,567 820,194,822(including capital advances)

2. Investments F

(a) Long Term 13,826,656,843 9,208,140,178

(b) Current Investments 5,342,261,507 19,168,918,350 2,258,042,750 11,466,182,928

3. Current Assets, Loans and Advances G

(a) Sundry Debtors 90,854,144 101,989,080

(b) Cash and Bank Balances 10,403,030,111 16,008,229,909

(c) Other Current Assets 213,957,175 236,793,713

(d) Loans and Advances 436,778,687 482,244,38311,144,620,117 16,829,257,085

4. Less: Current Liabilities & Provisions H

(a) Current Liabilities 8,855,609,493 8,579,396,647

(b) Provisions 599,025,662 569,144,182

9,454,635,155 9,148,540,829

Net Current Assets 1,689,984,962 7,680,716,256

Total 21,713,274,549 19,967,094,006

Significant accounting policies and Notes to accounts N

For and on behalf of the Board of DirectorsIn terms of our report attached.

For Deloitte Haskins & Sells Madhu Kannan S. RamadoraiChartered Accountants Managing Director & CEO Chairman

Nalin M. Shah Ishaat Hussain Prakash R. Kacholia

Partner Director Director

L. P. Aggarwal V.G. BhagatMumbai, 20th April, 2010 Chief Financial Officer Company Secretary


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PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2010

2008-09PARTICULARS Schedule

Rupees RupeesINCOME

Trading Members I 1,344,384,226 1,236,982,575Investments and Deposits J 2,457,248,559 2,218,181,456Services to Corporates K 591,451,900 292,436,108

Training Institute 58,063,730 70,817,856Other Services L 400,992,078 392,525,131

TOTAL 4,852,140,493 4,210,943,126

EXPENDITURE

Computer Technology Related Expenses (See Notes 16 & 17 of Schedule "N") 606,311,657 481,576,211Employee Costs Salaries, Allowances and Bonus 374,185,418 227,177,670 Staff Welfare Expenses 56,666,812 41,477,111 Contribution to Provident and Pension Funds 23,379,597 17,369,413 Contribution to Gratuity Funds 32,774,519 5,275,649 Arrears of Employee Costs (See Note 20 of Schedule "N") 42,564,818 Compensated Absences 29,034,086 3,626,077Administration and Other Expenses M 416,427,104 446,489,543Contribution to SEBI 39,855,494 35,746,571Depreciation 348,902,196 291,980,715

1,970,101,701 1,550,718,960

Profit before tax 2,882,038,792 2,660,224,166Provision for tax Income tax 796,344,000 533,200,000 Deferred tax (See Note 5 of Schedule "N") (43,755,000) 1,179,000 Fringe benefit tax 4,000,000 Wealth tax 16,000 50,000

Profit after tax 2,129,433,792 2,121,795,166Balance brought forward from previous year 2,280,212,171 1,800,879,002

Amount availabe for appropriation 4,409,645,963 3,922,674,168

Appropriations

General Reserve 1,000,000,000 1,000,000,000 Trade Guarantee Fund (Cash & Derivatives) 183,578,850 137,963,426 Trade Guarantee Fund (G-Sec) 2,063,790 6,385,333 Trade Guarantee Fund (CDX) 8,133,236 3,234,815 Dividend 422,991,088 422,991,088 Tax on Dividend 70,253,532 71,887,335 Balance carried to Reserves & Surplus 2,722,625,467 2,280,212,171

4,409,645,963 3,922,674,168

Basic Earnings per share (face value Re. 1/- each) 18.30 18.67Diluted Earnings per share (face value Re. 1/- each) 18.30 18.67(See Note 10 of Schedule "N")

Significant accounting policies and Notes to accounts N

For and on behalf of the Board of DirectorsIn terms of our report attached.


Nalin M. Shah Ishaat Hussain Prakash R. Kacholia

Partner Director Director



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CASH FLOW STATEMENT FOR YEAR ENDED 31ST MARCH, 2010

31.03.09PARTICULARS

Rupees Rupees Rupees RupeesA. CASH FLOW FROM OPERATING ACTIVITIES

Net Profit before tax 2,882,038,792 2,660,224,166

Adjustments for:

Depreciation 348,902,196 291,980,715Computer Technology Related Expenses(See Note 17 of Schedule N) 107,092,130

Trade Guarantee Funds (Cash & Derivatives) (217,627,850) (152,163,426)

Trade Guarantee Funds (G-Sec) (2,099,790) (6,585,333)

(Profit) / Loss on sale of Fixed Assets (1,613,157)

Trade Guarantee Funds (CDX) (12,322,236) (5,834,815)

Profit on sale of Investments (Own) (449,784,892) (254,538,814)

Interest Expense 357,295 248,149

Provision for Other item 6,606,732

Interest Income on Own Funds (1,489,424,608) (752,616,346)

Dividend Income on Own Funds (288,474,517) (1,050,219,496)

Provision for Compensated Absences 24,940,651 Operating Income before working capital changes 908,590,746 730,494,800

Adjustments for chages in:

Trade and Other Receivables 4,239,123 (8,660,980)

Trade and Other Liabilities 180,010,441 719,071,949

Taxes Paid (806,873,463) (531,429,730)

Net cash generated from operating activities 285,966,847 909,476,039

B. CASH FLOW FROM INVESTING ACTIVITIES

Fixed Assets

Acquisition of Fixed Assets(including capital work - in - progress) (383,284,871) (175,081,379)

Proceeds from disposal of Fixed Assets 1,819,418 Investments

Long Term Investments

Purchase of Investments

Own (7,446,556,900) (7,202,535,997)

Earmarked Funds (730,000,000) (1,638,728,544)

Investment in Wholly-owned Subsidiary (924,460,000) (9,101,016,900) (8,841,264,541)

Proceeds on Sale of Investments

Own 3,608,775,533 2,356,883,784

Earmarked Funds 1,375,726,843 4,984,502,376 320,195,506 2,677,079,290

Net (Increase) / Decrease in Current Investments

Own (1,203,627,907) 13,449,025,939

Earmarked Funds (1,820,189,908) (3,023,817,815) 3,283,206,215 16,732,232,154

Net (Increase) / Decrease in Fixed Deposits with banks

Own 1,838,229,666 (8,061,195,420)

Earmarked 262,061,146 2,100,290,812 (983,561,189) (9,044,756,609)

Interest Received

Own 1,506,285,890 534,008,282

Dividend Received

Own 288,474,517 1,051,062,496

Net cash used in investing activities (3,626,746,573) 2,933,279,694


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CASH FLOW STATEMENT FOR YEAR ENDED 31ST MARCH, 2010

31.03.09PARTICULARS

Rupees Rupees Rupees Rupees

C. CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Issue of Share Capital 30,000 20,000

Trade Guarantee Funds (Cash & Derivatives) 86,524,578 137,963,426

Trade Guarantee Funds (G-Sec) 1,958,893 6,385,333Trade Guarantee Funds (CDX) 8,133,236 3,234,815

Investors' Protection Fund 918,500 2,152,928

Deposits from Companies - 1% of their Public Issue 35,587,186 (561,220,873)

Withheld Funds 546,316 92,056,035

Defaulters' Liabilities 35,836,559 23,516,574

Increase / (Decrease) inShort Term Borrowings from Banks 7,216,371 (10,397,349)

Interest paid on borrowings (357,295) (248,149)

Dividend and taxes paid thereon (487,023,603) (279,115,158)

Deposits received Under Deposit Based Membership 146,500,000 281,750,000

Net cash from financing activities (164,129,259) (303,902,418)

Net (Decrease) / Increase in cash and (3,504,908,985) 3,538,853,315cash equivalents

Cash and Bank balances as per Schedule "G" 10,403,030,111 16,008,229,909

Less: Fixed Deposits with original maturity periodover three months 10,193,725,796 12,294,016,609

Cash and cash equivalents at the end of the year 209,304,315 3,714,213,300

Cash and cash equivalents at the beginning of the year 3,714,213,300 175,359,985

Change in cash and cash equivalents (3,504,908,985) 3,538,853,315

Note 1: Cash and cash equivalents comprise of cash in hand and balances in current accounts with banks.

Note 2: Closing Cash equivalent includes in Current Account with banks Rs 2,127,673/- (P.Y. 539,047,538/-) towards Earmarked Funds.

For and on behalf of the Board of Directors

In terms of our report attached.


Nalin M. Shah Ishaat Hussain Prakash R. KacholiaPartner Director Director



7/31


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As at31.03.2009

PARTICULARSRupees Rupees

Short Term Loan from Bank:

Bank Balance Overdrawn 9,069,773

(Secured against Fixed Deposit Receipts)

TOTAL 9,069,773

Schedule "C" SECURED LOAN

As at31.03.2009

PARTICULARSRupees Rupees

Short Term Loan from Bank:

Bank Balance Overdrawn 1,853,402

TOTAL 1,853,402

Schedule "D" UNSECURED LOAN


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(Rupees)

ParticularsofAssets

Cost

Asat

Additions

Deductions/

CostAsat

Depreciation

Depreciation

Deductions/

Total

Ne

tAssets

NetAssets

31.03.2009

During

Adjustments

31.03.2010

upto

fortheyear

Adjustments

Depreciation

31.03.2010

31.03.2009

theperiod

31.03.2009

upto

31.03.2010

A

B

C

D

=A

+B-C

E

F

G

H=

E+F-G

I=D

-H

J=A-E

TangibleAssets:

1.

FreeholdLand

100,967,977

100,967,977

100

,967,977

100,967,977

2.

Buildings

270,160,699

44,456,200

314,616,899

215,630,467

4,297,704

219,928,171

94

,688,728

54,530,232

3.

Plant&Machinery

162,713,826

13,840,435

176,554,261

137,458,579

4,027,097

141,485,676

35

,068,585

25,255,247

4.

ElectricalInstallations

89,098,256

7,262,953

96,361,209

75,275,610

3,531,858

78,807,468

17

,553,741

13,822,646

5.

Computers

2,521,027,312

76,076,625

3,858,4342

,593,245,503

2,094,036,777

187,912,644

3,858,434

2,278,090,987

315

,154,516

426,990,535

HardwareAnd

NetworkingEquipments

6.

Furniture,fixturesAnd

287,716,805

11,543,913

231,170

299,029,548

209,276,926

16,376,269

180,310

225,472,885

73

,556,663

78,439,879

OfficeEquipments

7.

MotorVehicles

16,482,358

647,407

15,834,951

10,180,583

1,615,400

492,006

11,303,977

4

,530,974

6,301,775

SubTotal

3,448,167,233

153,180,126

4,737,0113

,596,610,348

2,741,858,942

217,760,972

4,530,750

2,955,089,164

641

,521,184

706,308,291

IntangibleAssets:

8.

Software

197,862,630

166,333,556

96,927,600

267,268,586

154,557,665

131,141,224

96,927,600

188,771,289

78

,497,297

43,304,964

TOTAL

3,646,029,862

319,513,682

101,664,611

3,863,878,934

2,896,416,607

348,902,196

101,458,350

3,143,860,453

720

,018,481

749,613,255

PreviousYear

4,086,016,551

134,006,874

573,993,5623

,646,029,862

3,178,429,454

291,980,715

573,993,562

2,896,416,607

749

,613,255

Depreciationfortheyearincludes

Rs.

96,9

27,6

00/-(PreviousYearRs.

NIL)onaccountofimpairmentofassets.

Sc

he

du

le"E"

STATEM

ENTOFFIXED

ASSETSFORM

ING

PARTOFTHEBALANCESHEETASAT31STMARCH

,20

10


10/31

43


As at 31.03.2009PARTICULARS Rupees Rupees Rupees Rupees

INVESTMENTS (At Cost, unless otherwise Specified):

A LONG TERM INVESTMENTS

(a)Own Funds

(i) Trade InvestmentsFully Paid-up Equity Shares (Unquoted)

98,000 BOI Shareholding Ltd. of Rs. 100/- each 9,800,000 9,800,000

38,254,600 Central Depository Services (India) Ltd. of Rs. 10/- each 382,546,000 382,546,000

30,875 Calcutta Stock Exchange Ltd. of Re. 1/- each 61,750,000 61,750,000

22,500,000 United Stock Exchange Ltd. of Rs.10/- each 225,000,000 679,096,000 454,096,000

Wholly Owned Subsidiaries (Unquoted)

500,000,000 Indian Clearing Corporation Ltd. of Re. 1/- each 500,000,000 500,000(459,500,000 shares subscribed during the year)

20,000,000 Marketplace Technologies Pvt. Ltd of Re.1/- each 424,960,000 924,960,000 500,000

(ii)Non-Trade Investments

(See Note12 of Schedule -N)

Bonds & Non Convertible Debentures (Quoted) 7,631,246,488 3,175,260,000 Units of Dividend Oriented Debt Schemes

of Mutual Funds 50,000,000

Units of Growth Oriented Debt Schemesof Mutual Funds 3,490,000,000 11,121,246,488 3,890,000,000 7,115,260,000

(b) Earmarked Funds

(See Note12 of Schedule -N)

Bonds & Non Convertible Debentures (Quoted) 96,516,400

Units of Growth Oriented Debt Schemesof Mutual Funds 1,101,354,355 1,101,354,355 1,541,767,778 1,638,284,178

Total (A) 13,826,656,843 9,208,140,178

B CURRENT INVESTMENTS

(See Note 12 of Schedule -N)

(a) Own Funds

Certificate of Deposits of Scheduled Banks 496,399,850

Commercial Papers 1,324,208,550

Bonds & Non Convertible Debentures (Quoted) 437,434,350

Units of Dividend Oriented Debt Schemes 150,000,000 of Mutual Funds

Units of Growth Oriented Debt Schemes 3,368,250,429 3,518,250,429 2,258,042,750of Mutual Funds

(b) Earmarked Funds

Units of Dividend Oriented Debt Schemes 293,414,513 of Mutual Funds

Units of Growth Oriented Debt Schemes 1,530,596,565 of Mutual Funds

1,824,011,078

Total (B) 5,342,261,507 2,258,042,750

GRAND TOTAL (A+B) 19,168,918,350 11,466,182,928

Aggregate Cost of Quoted Investments 7,631,246,488 3,709,210,750

Market Value of Quoted Investments 7,829,043,155 3,958,372,729

Aggregate Cost of Mutual Fund Units 9,933,615,862 5,481,767,778

NAV of Mutual Fund Units 10,130,774,704 5,698,129,296

Schedule "F" INVESTMENTS


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As at 31.03.2009PARTICULARS Rupees Rupees Rupees Rupees

1. Sundry Debtors (Secured and Considered Good)

Outstanding for a period exceeding six months 11,142,370 5,967,038

Other Debts 79,711,774 90,854,144 96,022,042 101,989,0802. Sundry Debtors

(Unsecured and Considered Doubtful)

Outstanding for a period exceeding six months 24,554,272 24,554,272

Less: Provision for Doubtful Debts 24,554,272 24,554,272

Total (A) 90,854,144 101,989,080

Cash and Bank Balances

1. Cash on Hand 120,060 98,850

2. Balance with Scheduled Banks

(Includes Balances for Earmarked Funds) In Current Accounts 209,184,255 3,714,114,450

In Deposit Accounts 10,193,725,796 10,402,910,051 12,294,016,609 16,008,131,059

Total (B) 10,403,030,111 16,008,229,909

1. Other Current Assets

Interest Accrued on Deposits 9,182,639 11,129,657(Includes Balances for Earmarked Funds)

Income Accrued on Investments 204,774,536 225,664,056

Total (C) 213,957,175 236,793,713

1. Loans and Advances

(Unsecured and Considered Good)

Advances to Staff 24,977,512 27,071,414

Advances Recoverable in Cash or in Kind 152,427,916 258,437,720or for value to be received

Due from a Subsidiary Company 1,322,660

Deposit with Public Bodies and Others 30,625,804 15,420,497

Income Taxes Paid in Advance (Net of Provisions) 228,747,455 179,992,092

436,778,687 482,244,383

2. Loans and Advances 82,707,916 82,707,916(Unsecured and Considered Doubtful)

Less: Provision for Doubtful Advances 82,707,916 82,707,916

Total (D) 436,778,687 482,244,383

TOTAL (A + B + C + D) 11,144,620,117 16,829,257,085

Schedule "G" CURRENT ASSETS, LOANS & ADVANCES


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45


As at 31.03.2009

PARTICULARS Rupees Rupees Rupees Rupees

Current Liabilities :

Trading Members:

Deposits and Margins Received 2,556,753,636 2,999,720,175

Withheld Liabilities (*) 165,634,993 165,088,677

Other Liabilities 49,413,932 2,771,802,561 82,827,699 3,247,636,551

Others :

1. Deposits

(a) From Companies - 1% of their Public Issue (*) 922,097,452 886,510,266

(b) Other Deposits Received 1,428,698,932 1,229,217,332

2,350,796,384 2,115,727,598

2. Income Received in Advance 35,541,874 26,041,054

3. Defaulters Liabilities (*) 480,705,598 438,590,112

Less: Receivable from Defaulters 677,950 677,950

480,027,648 437,912,162

4. Due To a Subsidiary Company 10,474,079 -

5. Other Liabilities 2,642,138,246 2,430,213,436

6. Investors Protection - Derivatives (*) 61,856,625 54,974,126

7. Sundry Creditors 481,732,056 253,506,520

(See Note 15 of Schedule - N)

8. Investor Education and Protection Fund 21,240,020 6,083,806,932 13,385,200 5,331,760,096- Unpaid Dividend (Not Due)

Total (A) 8,855,609,493 8,579,396,647

Provisions for:

Compensated Absences 92,493,462 67,552,811

Wealth Tax (Net of Advance) 25,185 57,285

Fringe Benefit Tax (Net of Advance) 48,931 48,931

Others (See Note 21 of Schedule N) 13,213,464 6,606,732Proposed Dividend 422,991,088 422,991,088

Tax on Dividend 70,253,532 493,244,620 71,887,335 494,878,423

Total (B) 599,025,662 569,144,182

TOTAL (A + B) 9,454,635,155 9,148,540,829

(*) Investments in Schedule F & G have been earmarked against these liabilities.

Schedule "H" CURRENT LIABILITIES & PROVISIONS


13/31

2008- 09PARTICULARS Rupees Rupees

A. Own Funds

Income From Long Term Investments:

Interest income (Tax Deducted at Source Rs. NIL, Previous Year Rs.1,908,310/-) 469,481,975 110,066,609

Dividend Income 40,430,725 65,990,597

Profit on Sale / Redemption 393,205,121 157,081,600

Income From Current Investments

Interest Income (Tax Deducted at Source Rs. NIL, Previous Year Rs.1,457,380/-) 50,812,809 208,211,037

Dividend Income 248,043,792 984,228,899


Interest From Fixed Deposits & Term Deposits 969,129,824 434,338,701

(Tax Deducted at Source Rs. 105,621,700/-, Previous Year Rs.97,750,272/-)

Total 2,227,684,017 2,057,374,654

B. Earmarked Funds

Income From Long Term Investments:

Interest income (Tax Deducted at Source Rs. NIL, Previous Year Rs.NIL) 7,929,154 4,548,298

Dividend Income 2,453,626


Income From Current Investments

Interest Income (Tax Deducted at Source Rs. NIL, Previous Year Rs.NIL) 1,898,272

Dividend Income 23,663,704 97,877,695

Profit on Sale / Redemption 112,075 3,189,665

Interest From Fixed Deposits & Term Deposits 100,812,514 32,292,190

(Tax Deducted at Source Rs. 11,407,203/-, Previous Year Rs.7,199,774/-)

Total 229,564,542 160,806,802

Grand Total 2,457,248,559 2,218,181,456


Transaction Charges 870,072,926 765,762,642

Charges Recovered 418,984,797 399,021,981

Penalties and Fines 33,187,080 42,047,302

Annual Subscription & Admission Fees 14,498,835 16,009,250

Processing Fees 7,640,588 14,141,400

TOTAL 1,344,384,226 1,236,982,575

Schedule "I" INCOME FROM TRADING MEMBERS

Schedule "J" INCOME FROM INVESTMENTS AND DEPOSITS


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47



Listing Fees 190,394,738 157,465,711

Book Building Software Charges 104,055,210 24,047,445

Other Fees 297,001,952 110,922,952

TOTAL 591,451,900 292,436,108

Schedule "K" INCOME FROM SERVICES TO CORPORATES


Rent & Maintenance Charges 135,133,935 143,534,225

Data Dissemination fees 187,735,479 180,767,558

Miscellaneous Income (See Note 18 of Schedule - N) 75,132,551 58,818,476

Interest on Income Tax Refund 7,998,978Interest on Staff Loans 1,376,956 1,405,894

Profit on sale of Fixed Assets (Net) 1,613,157

TOTAL 400,992,078 392,525,131

Schedule "L" INCOME FROM OTHER SERVICES


Advertising & Marketing Expenses 20,366,687 39,455,774

Auditors Remuneration (See Note 7 of Schedule - N) 3,967,548 3,600,000

Building Repairs & Maintenance Expenses 32,289,187 23,845,819

Repairs to Other Assets 24,530,241 14,893,322

Charity and Donations 989,965 10,529,680

Clearing House Expenses 12,200,000 12,385,400

Contribution to Investors Protection Fund 1,985,549 1,650,529

Directors Fees 2,900,000 3,390,000

Electricity Charges (Net of Recoveries of Rs. 30,742,522/-, Previous Year Rs. 31,247,659/-) 93,164,968 117,411,240

Insurance 8,584,793 7,959,652

Interest on Overdraft 357,295 248,149

Legal & Professional Fees 82,968,874 65,055,350

Miscellaneous Expenses (See Note 18 of Schedule - N) 44,671,813 60,122,275

Postage and Telephone Expenses 13,873,879 14,710,674

Printing and Stationery 6,936,088 9,170,526

Property Taxes (Net of Recoveries of Rs. 16,195,728/-, Previous Year Rs. 30,417,818/-) 17,185,612 28,524,356

Rent 23,872,607 12,349,329

Travelling Expenses 25,581,998 21,187,468

TOTAL 416,427,104 446,489,543

Schedule "M" ADMINISTRATION AND OTHER EXPENSES


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Schedule "N" SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS

1. Corporatisation & Demutualisation:

(a) Pursuant to the BSE (Corporatisation & Demutualisation) Scheme, 2005, (the Scheme) the Exchange had allotted 10,000 equityshares of Re.1/- each to each of those card based Members of the erstwhile BSE whose names appeared on the Register of Membersunder Rule 64 of the erstwhile BSE - Rules, Bye-laws and Regulations, on the Record Date fixed for the purpose.

(b) As on 31st March, 2010, out of the total 95,550,000 equity shares of Re.1/- (including 88,200,200 bonus shares of Re.1/- each)

issuable to the card based Members, the Exchange has allotted 93,080,000 equity shares (92,180,000 equity shares as on 31st March,2009). The allotment of 2,470,000 equity shares (3,370,000 equity shares as on 31st March, 2009) of Re.1/- each has been kept inabeyance for specific reasons. However, all corporate benefits as declared from time to time, including dividend, are accrued to allthe 95,550,000 equity shares.

(c) As a part of the demutualisation process, the Exchange in order to fulfill its obligations under the Scheme and the SecuritiesContracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006(the SEBI Regulations) dated 13th November, 2006, and further amendment thereto on 23rd December, 2008, had issued shares toDeutsche Boerse AG (DBAG) and Singapore Exchange Limited (SGX). The Exchange has further agreed to issue additional sharesto DBAG and SGX so as to maintain their holding percentage.

(d) The Exchange has identified an amount of Rs. 2,500,000/- received on sale of card in an earlier year which was erroneously includedin Deposit from Trading Members. During the year, the amount has been transferred to Capital Reserve, being transaction pertainingto period prior to Demutualisation of the Exchange.

2. Significant Accounting Policies2.1 Basis of preparation of financial statements:

The financial statements have been prepared on an accrual basis under the historical cost convention, in accordance with theaccounting principles generally accepted in India and comply with the Accounting Standards (AS) notified by the Central Governmentunder The Companies (Accounting Standards) Rules, 2006 and with the relevant provisions of the Companies Act, 1956.

2.2 Use of Estimates:

The preparation of financial statements requires the Management to make estimates and assumptions that affect the reportedbalances of assets and liabilities (including contingent liabilities) and disclosures relating to liabilities as at the date of the financialstatements and reported amounts of income and expenses during the period.

2.3 Revenue Recognition:

Revenue in respect of services rendered is recognised when the service is rendered and there is a reasonable certainty of ultimaterealisation. Dividend income on investments is recognised when the unconditional right to receive payment is established. Discount

or premium on debt securities / discounted Money Market Instruments is accrued over the period of remaining maturity.Investment income in respect of Brokers' Contingency Fund (BCF) and all Trade Guarantee Funds (TGF) is credited to the Profit andLoss Account. In respect of TGF, the income, net of applicable taxes, is appropriated to the respective fund account. However, withrespect to other earmarked funds under Schedule 'H', the income on investments is credited to the respective fund account.

2.4 Fixed Assets:

2.4.1 Tangible Assets:

Fixed Assets are stated at cost, less accumulated depreciation. Cost includes cost of acquisition and other incidental expensesincurred until the asset is ready to put to use for its intended purpose. Capital work-in-progress comprises outstandingadvances paid to acquire fixed assets and the cost of fixed assets that are not yet ready for its intended use.

2.4.2 Intangible Assets:

(i) Cost of development and production of internally developed or purchased software, used for the purpose of operations,is capitalised.

(ii) Any expense on software for support, maintenance, upgrades etc., payable periodically is charged to the Profit and LossAccount.

2.5 Depreciation:

2.5.1 Tangible Assets:

Depreciation on fixed assets is provided on the 'Written Down Value' basis at the rates prescribed under Schedule XIV of theCompanies Act, 1956 for the number of days the assets have been ready to put to use for their intended purposes.

2.5.2 Intangible Assets:

Intangible assets consisting of computer software are being depreciated at 40% on the 'Written Down Value' basis for thenumber of days the assets have been ready to put to use for their intended purposes.


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2.6 Impairment of Assets:

The carrying amounts of assets are reviewed at each Balance Sheet date if there is an indication of impairment based on the internaland external factors.

An asset is treated as impaired when its carrying cost exceeds the recoverable amount. An impairment loss, if any, is charged to theProfit and Loss Account in the period in which the asset is identified as impaired. Reversal of impairment loss recognised in prior

years is recorded when there is an indication that impairment losses recognised for the assets no longer exist or have decreased.

2.7 Investments:

Long-term investments are stated at cost less provision for diminution other than temporary in value. Current investments arevalued at the lower of cost and fair value.

2.8 Employee Benefits:

Employee benefits are accrued in accordance with Accounting Standard-15 (Revised) "Employee Benefits"

2.8.1 Provident Fund:

Eligible employees receive benefits from a provident fund, which is a defined benefit plan. Aggregate contribution along withinterest thereon is paid on cessation of services. Both the employee and the Exchange make monthly contributions to theBombay Stock Exchange Employees' Provident Fund, a trust set up and administered by the Exchange. The Exchange is liablefor any shortfall in the fund assets based on the minimum rate of return specified by the Government, which is recognised asan expense in the year incurred.

2.8.2 Compensated Absences:

The leave balance is classified as long-term and short-term, based on the best estimates after considering the past trends. Theshort-term leave encashment liability has been measured on actual components eligible for leave encashment and expectedshort-term leave to be availed is valued at total cost to the Exchange. Long-term leave has been valued on actuarial basis as atthe year end.

2.8.3 Gratuity:

The Exchange provides for gratuity, a defined benefit plan, in respect of employees. The gratuity plan provides a lump sumpayment vested to employees at the time of retirement, death, incapacitation or termination of employment, of an amountbased on the respective employee's salary and the tenure of his employment. Liability with regards to Gratuity is determinedbased on an actuarial valuation as per the projected unit credit method as at the Balance Sheet date and is charged to the Profitand Loss Account. The Exchange makes annual contribution to Gratuity Fund administered by it.

2.9 Provision for Current and Deferred Tax:

Provision for Current Tax is made on the basis of the estimated taxable income for the current accounting period in accordancewith the provisions of the Income Tax Act, 1961. Deferred Tax, resulting from "timing differences" between the book and thetaxable profits for the year is accounted for using the tax rates and laws that have been enacted or substantively enacted as on theBalance Sheet date. Deferred tax assets are recognised and carried forward only to the extent that there is reasonable certainty,except for carried forwards losses and unabsorbed depreciation which are recognised based on virtual certainty that the differencewill reverse in future.

2.10 Provisions, Contingent Liabilities and Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result ofpast events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognised but are disclosedin Notes to Accounts, while contingent assets are neither recognised nor disclosed in the financial statements.

2.11 Foreign Currency Transactions:

Foreign currency transactions are recorded at the exchange rate prevailing on the date of transaction. All foreign currency currentassets/liabilities are translated at the rates prevailing on the date of the Balance Sheet. Foreign Exchange rate differences arising onsettlement(s) / conversion(s) are recognised in the Profit and Loss Account.

Schedule "N" Contd...


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3. Contingent Liabilities not Provided for in respect of: (Rupees)

Sr. Particulars As at As atNo. 31st March, 31st March,

2010 2009

a) Claims against the Exchange not acknowledged as debts in respect of :

i) Service Tax matters 6,933,638 6,933,638ii) Other matters 1,070,769,206 1,878,792,240

(Including Rs.1,033,450,927/- (Rs.1,872,662,244/- for the year ended 31st March, 2009)which in the opinion of the Management are remote)

b) Guarantees given by the Exchange to the loan provider: 104,000,000 104,000,000

Aggregate loans outstanding from employees of the Exchange were Rs. 27,314,159/-,(Rs. 31,653,679/- as at 31st March, 2009) The employees have mortgaged their flats/properties with the loan provider.

c) The Exchange has procured corporate credit cards for its Senior Executives.The total amount outstanding is 34,760 158,507

d) Guarantee given by the bank on behalf of the Exchange 26,185,000 26,185,000

4. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) is Rs. 130,583,913/-

as on 31st March, 2010 (Rs. 118,884,305/- as on 31st March,2009).

5. In accordance with the Accounting Standard - 22 relating to "Accounting for Taxes on Income", the breakup of Deferred Tax Assets /Liabilities is as follows:

(Rupees)

As at As at31st March, 31st March,

2010 2009

Deferred Tax Liabilities:

Depreciation 55,993,000 76,100,000

Total (A) 55,993,000 76,100,000

Deferred Tax Assets:

Preliminary Expenses 253,000Expenses allowed on payment basis 50,126,000 28,368,000

Others 4,389,000 2,246,000

Total (B) 54,515,000 30,867,000

Net Deferred Tax Liability (A-B) 1,478,000 45,233,000

6. Managerial Remuneration:

Shri Madhu Kannan Managing Director & Chief Executive Officer (from 11th May, 2009)

Shri Rajnikant Patel Managing Director & Chief Executive Officer (up to 26th August, 2008)

(Rupees)

For the year For the yearended 31st ended 31st

March, 2010 March, 2009Salaries, Allowances and Bonus 14,176,899 5,341,851

Contribution to Provident Fund 608,613 209,961

Perquisites 1,373,168 742,213

Gratuity and Leave Encashment 3,182,080

Total 16,158,680 9,476,105

Note: (i) The above figures for the current year do not include Contribution to Gratuity Fund and Provision for Leave Encashmentas these amounts are actuarially determined for the Exchange as a whole and employee-wise details are not available. Theseare considered when paid.

(ii) The above figures for the current year do not include Performance Linked Pay accrued on aggregate basis. However, thesame is disclosed as Managerial Remuneration on a cash basis.


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Transactions with the Entities under control:

(Rupees)

For the year For the yearName Particulars ended 31st ended 31st

March, 2010 March, 2009

EXPENDITURE

The Stock Exchange Investors' Contribution to IPF (a proportion of listing fee) 1,985,549 1,650,529Protection Fund

(Rupees)

Name Particulars As at 31st As at 31stMarch, 2010 March, 2009

ASSETS

The Stock Exchange Investors' Receivable 8,867,045 2,947,748Protection Fund

c) Associate:

Name

Central Depository Services (India) Ltd.

Transactions with the Associate:

(Rupees)



INCOME

Central Depository Services Charges Recovered 11,620,825 13,565,769(India) Ltd.

Dividend 38,254,600 38,254,600

Rent and Maintenance Charges 21,541,440 21,541,440

EXPENDITURE

Central Depository Services Miscellaneous Expenses 32,400 17,612(India) Ltd.

(Rupees)


ASSETS

Central Depository Services Investments 382,546,000 382,546,000(India) Ltd.

Receivable 70,728 1,304,946

LIABILITIES

Central Depository Services Other Deposits Received 1,277,478 1,277,478(India) Ltd.

d) Joint Venture:

Name

BOI Shareholding Ltd.



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Transactions with the Joint Venture:

(Rupees)



INCOME

BOI Shareholding Ltd. Dividend 1,960,000 9,800,000

EXPENDITURE

BOI Shareholding Ltd. Clearing House Expenses 12,200,000 12,185,400

(Rupees)


ASSETS

BOI Shareholding Ltd. Investments 9,800,000 9,800,000

Receivable Nil 51,476

Details of the Exchange's interest in its Joint Venture, having Joint Control, as per the requirement of Accounting Standard (AS) - 27on "Financial Reporting of Interests in Joint Ventures", are as under:

(Rupees)

For the year For the yearSr.No. Particulars ended 31st ended 31st

March, 2010* March, 2009

BOI Shareholding Ltd.

% Shares Held 49.00% 49.00%

(a) Assets 138,292,817

(b) Liabilities 54,573,646

(c) Income 61,359,435

(d) Expenses 21,818,854

(e) Other Matters - Contingent Liability Nil

* Figures for current year are not given since they are not available.

e) Key Management Personnel :

Name Relation

Shri Madhu Kannan Managing Director and Chief Executive Officer (from 11th May, 2009)

Shri Rajnikant Patel Managing Director and Chief Executive Officer (up to 26th August, 2008)

Transactions with Key Management Personnel:(Rupees)

For the year For the yearParticulars ended 31st ended 31st


INCOME

Interest on Staff Loans Nil 68,453

EXPENDITURE

Salaries, Allowances and Bonus 16,158,680 9,476,105



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10. Earnings Per Share:

(Rupees)



Profit After Tax (Rs.) 2,129,433,792 2,121,795,166

Less : Appropriation to Earmarked Funds (Rs.) 193,775,876 147,583,574

Profit attributable to equity shareholders (Rs.) 1,935,657,916 1,974,211,592

Weighted Average Number of Equity Shares for Basic Earnings Per Share (Nos.)(Refer Note 1 (b)) 105,747,772 105,747,504

Weighted Average Number of Equity Shares for Diluted Earnings Per Share (Nos.)(Refer Note 1 (b)) 105,747,772 105,747,504

Basic EPS (in Rs.) 18.30 18.67

Diluted EPS (in Rs.) 18.30 18.67

11. Various Funds / Reserves setup and administered by the Exchange:

11.1 Trade Guarantee Fund (TGF):

In 1997, BSE had set up the Trade Guarantee Fund to guarantee the settlement of bonafide transactions of members of theExchange, which form part of the Exchange settlement system so as to ensure timely completion of settlement of trades and therebyprotect the interest of investors and the members of the Exchange. The constitution of the Fund and its rules and bye-laws wereapproved by the Securities and Exchange Board of India (SEBI). BSE had contributed a sum of Rs. 600,000,000/- from the accumulatedcontribution from its members in the year 1997-98. Every member contributes a fixed sum at the time of commencement ofbusiness and there after a percentage of the gross turnover as prescribed from time to time. The Fund is represented by earmarkedinvestments and the income earned on these investments is credited to the Profit and Loss Account and then appropriated to theFund (net of applicable taxes).

11.2 Trade Guarantee Fund (G-Sec Segment):

In 2003, BSE had set up a distinct Trade Guarantee Fund known as Trade Guarantee Fund- G-Sec for trading in Central GovernmentSecurities and the Fund was created with an initial contribution of Rs. 50,000,000/- by transferring the said amount from the freereserves of BSE. The Fund is represented by earmarked investments and the income earned on these investments is credited to theProfit and Loss Account and then appropriated to the Fund (net of applicable taxes).

11.3 Trade Guarantee Fund (CDX):

In 2008, BSE had set up a distinct Trade Guarantee Fund known as Trade Guarantee Fund-CDX for trading in Currency Derivativesand such fund was created with an initial contribution of Rs. 100,000,000/- by transferring the said amount from the Capital Reservesof the Exchange. The Fund is represented by earmarked investments and the income earned on these investments is credited to theProfit and Loss Account and then appropriated to the Fund (net of applicable taxes).

The following amounts have been appropriated to the above funds during the year out of Operational Charges Recovered andIncome from Investments and Deposits;

(Rupees)

Particulars TGF (Cash TGF TGF

& Derivative) (G-Sec) (CDX)

Contribution by Trading Members 2,485,338

Income from Investments 215,142,512 2,099,790 12,322,236

Less: Tax on above 34,049,000 36,000 4,189,000

Amount Appropriated 183,578,850 2,063,790 8,133,236

11.4 Brokers' Contingency Fund (BCF):

In 1997, BSE had set up the Brokers' Contingency Fund with a view to make temporary refundable advance(s) to the members facingfinancial mismatch so as to protect the interests of the investors dealing through members of BSE by ensuring timely completion ofsettlement. The initial contribution of BSE to the corpus of the fund was Rs. 95,126,433/-. The Fund is represented by earmarkedinvestments. As there has been no utilisation from the BCF in the recent past, the Exchange has decided that the income earned onthese investments and initial contribution from members should not be appropriated to the Fund with effect from 1st April, 2008.



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11.5 Investors' Services Fund (ISF):

As per SEBI directive, from 1996-97, BSE decided to set aside 20% of the Annual listing fees received to an Investors' ServicesAccount. The Exchange has charged all direct expenses incurred towards Investors Services to the Account and has also charged ona pro-rata basis other relevant revenue expenses. The balance in the Account as on 31st March, 2010, is Re 1 /- which is shownunder the other liabilities in Schedule "H" is arrived as under:

(Rupees)

Particulars As at 31st As at 31stMarch, 2010 March, 2009

Annual Listing Fees for the Year 197,314,942 156,405,711

20% of the above (Amount to be contributed) 39,462,988 31,281,142

Expenses incurred on behalf of ISF 43,649,157 41,090,337

Expenses recoverable (Subject to maximum of the contribution) 39,462,988 31,281,142

12. A. Details of Mutual Funds Investments:

Scheme Name Face Units as at Amount as at Units as at Amount as atValue 31st March, 2010 31st March, 2010 31st March, 2009 31st March, 2009

(Rupees) (Rupees) (Rupees)

A. Long Term Investments

(a)Own Funds

Bonds & Non Convertible Debentures (Quoted)

9.32 % Housing Development Finance 1,000,000 250 259,019,009 Corporation Limited



10.00% ICICI Bank Ltd. 10,000 7,551 75,510,000 7,551 75,510,000

11.35% IDBI Bank Ltd 1,000,000 450 492,071,309

11.40% Infrastructure Development 1,000,000 250 250,000,000 500 500,000,000Finance Company Ltd.

6.85 % India Infrastructure Finance 100,000 25,000 2,501,134,163 8,500 849,750,000Company Ltd ( Tax Free)

11.40% Power Finance Corporation Ltd. 1,000,000 950 969,596,919 1,000 1,000,000,000

9.40 % Power Finance Corporation Ltd. 1,000,000 350 365,024,474

11.50% Rural Electrification 1,000,000 750 794,796,734 750 750,000,000Corporation Ltd.

9.45 % Rural Electrification 1,000,000 500 521,927,944

Corporation Ltd.7.60 % Rural Electrification 1,000,000 100 100,000,000 Corporation Ltd.

9.60 % Reliance Capital Ltd. 1,000,000 500 502,599,187

Total 7,631,246,488 3,175,260,000

Units of Dividend Oriented Debt Schemes of Mutual Funds

Principal PNB FMP 460 Days 10 5,000,000 50,000,000- Series IV - IP - Dividend

Total 50,000,000



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Units of Growth Oriented Debt Schemes of Mutual Funds

AIG India Fixed Maturity Plan - I 1,000 100,000 100,000,000- Series I - IP - Growth

Birla Sun Life Floating Rate Fund 10 29,987,705 300,000,000 29,987,705 300,000,000- LTP - IP - Growth

Birla Sun Life FTP-Series BB-IP-Growth 10 10,000,000 100,000,000

Birla Sun Life FTP - Series CA - Growth 10 5,000,000 50,000,000

DBS Chola FMP - Series 9 (13 Months) 10 5,000,000 50,000,000- IP - Growth

DSP BlackRock FMP - 12 Months 10 25,000,000 250,000,000- Series 2 - IP - Growth



DSP BlackRock FMP - 13 Months 10 10,000,000 100,000,000 - Series 3 - Growth

Fidelity FMP - Series 1-Plan B-IP-Growth 10 10,000,000 100,000,000

Fortis FTP-Series 13-Plan C-IP Growth 10 10,000,000 100,000,000

HDFC F R I F - LTF - Growth 10 3,163,196 50,000,000

HDFC FMP-13M-Oct 2009 (11)-Growth 10 10,000,000 100,000,000

HSBC FTS 63 - IP - Growth 10 10,000,000 100,000,000

ICICI Prudential FMP - S 50 10 10,000,000 100,000,000 - 19 Months - Plan A - Growth

ICICI Prudential FMP - S 51 10 15,000,000 150,000,000 - 1 Year - Plan A - Growth

IDFC FMP - 14M - Series 1 - Growth 10 10,000,000 100,000,000

IDFC-FMP-13M-Series 1-Plan B-Growth 10 25,000,000 250,000,000 25,000,000 250,000,000

Kotak FMP - 12 Months - Series 8 10 15,000,000 150,000,000- IP - Growth

Kotak FMP - 13 Months - Series 5 10 34,000,000 340,000,000 34,000,000 340,000,000- Growth

Kotak FMP - 13 Months - Series 6 10 20,000,000 200,000,000 - Growth



Kotak FMP - 370 Days-Series 2-Growth 10 20,000,000 200,000,000

Reliance FHF 10 - Series 2 10 10,000,000 100,000,000- Super IP - Growth

Reliance FHF 10 - Series 3 10 10,000,000 100,000,000- Super IP - Growth

Reliance FHF 12 - Series 3 10 15,000,000 150,000,000 15,000,000 150,000,000- Super IP - Growth

Reliance RSF - Debt - IP - Growth 10 4,156,967 50,000,000

Religare FMP - Series II - Plan A-Growth 10 10,000,000 100,000,000

Religare FMP - Series II - Plan B-Growth 10 20,000,000 200,000,000

Religare FMP - Series II - Plan F-Growth 10 5,000,000 50,000,000





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SBI Magnum DFS - 13 Months 10 35,000,000 350,000,000 35,000,000 350,000,000- 9 - IP - Growth

Sundaram BNP Paribas FTP 10 5,000,000 50,000,000 - Plan AA (14 Months) - Growth

Sundaram BNP Paribas FTP 10 10,000,000 100,000,000- Plan F (370 Days) - IP - Growth

Sundaram BNP Paribas FTP - Plan J 10 5,000,000 50,000,000(15 Months) - IP - Growth

Sundaram BNP Paribas FTP - Plan U 10 5,000,000 50,000,000 (367 Days) - Growth

Tata FHF - Series 18-Plan B-IP-Growth 10 15,000,000 150,000,000

Tata FMP - Series 26-Plan A-RIP-Growth 10 5,000,000 50,000,000

Templeton FHF - Series IX 10 10,000,000 100,000,000- Plan D - Growth

Templeton FHF - Series XI 10 5,000,000 50,000,000

- Plan B - GrowthTempleton FHF - Series XI 10 20,000,000 200,000,000- Plan C - Growth

UTI - F M P - Mar 08 - YS - IP - Growth 10 35,000,000 350,000,000 35,000,000 350,000,000

UTI FTIF - Series IV - Plan 10 - IP 10 5,000,000 50,000,000

Total 3,490,000,000 3,890,000,000

(b) Earmarked Funds

Bonds & Non Convertible Debentures (Quoted)

8.55% Housing Development Finance 1,000,000 100 96,516,400Corporation Ltd.

Total 96,516,400


AIG India Fixed Maturity Plan - I 1,000 50,000 50,000,000- Series I - IP - Growth

Birla Sun Life FTP-Series BB-IP-Growth 10 5,000,000 50,000,000

Birla Sun Life FTP-Series BD-IP-Growth 10 10,000,000 100,000,000

Birla Sun Life FTP - Series CD - Growth 10 10,000,000 100,000,000


DSP BlackRock FMP - 13 Months 10 5,000,000 50,000,000 - Series 2 - Growth

DWS FTF - Series 55 - IP - Growth 10 10,000,000 100,000,000

DWS FTF - Series 67 - Growth 10 10,000,000 100,000,000

Fidelity FMP-Series 1-Plan C-IP-Growth 10 15,000,000 150,000,000

Fortis FTP - Series 13 10 5,379,005 53,790,053- Plan B - Institutional - Growth

ICICI Prudential FRF - Plan C - Growth 10 714,604 7,500,000 714,604 7,500,000

IDFC FMP - 13M - Series 5 - Growth 10 10,000,000 100,000,000

Kotak FMP - 12 Months - Series 8 10 726,741 7,267,410- Institutional - Growth

Kotak FMP - 12 Months - Series 9 10 10,180,434 101,804,335- IP - Growth

Kotak FMP-13 Months-Series 5-Growth 10 16,000,000 160,000,000 16,000,000 160,000,000





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Birla Sun Life Cash Plus - I P - Growth 10 3,466,143 471,681,739

HDFC Cash Mgmt Fund 10 687,427 10,119,928 - Treasury Advantage - Growth

ICICI Prudential Liquid-Super IP-Growth 100 5,237,891 54,104,272

ICICI Prudential Ultra Short Term Plan 10 3,717,874 53,268,589 - Sup Prem - Growth

IDFC Money Manager - Invest Plan 10 5,750,447 102,118,161 - Plan B - Growth

Kotak Bond Short Term Plan - Growth 10 543,652 10,140,685

Kotak Liquid-Inst Premium Plan-Growth 10 60,660,160 749,656,454

LIC MF Income Plus - Growth 10 70,182,841 1,075,773,840

LIC MF Income Plus Fund - Growth 10 50,506,206 638,165,987

LIC MF Liquid Fund - Growth 10 9,128,032 132,012,396

Reliance FRF - Growth 10 75,272 1,500,958

Religare Liquid Fund - Super IP-Growth 10 1,084,951 13,401,427

SBI Premier Liquid Fund-Super IP-Growth 10 4,558,415 56,305,994

Total 3,368,250,429

(b) Earmarked Funds

Units of Dividend Oriented Debt Schemes of Mutual Funds

UTI FIIF - Series 2 - Quarterly Interval 10 15,085,722 150,857,247 Plan V - IP - Dividend

ICICI Prudential Ultra Short Term Plan 10 14,225,852 142,557,266 - Super Premium - Daily Dividend

Total 293,414,513


Birla Sun Life Savings Fund - IP - Growth 10 9,948,519 171,581,595

DWS Cash Opportunities Fund-IP-Growth 10 13,086,039 154,222,890

ICICI Prudential Banking & 10 5,856,175 59,006,823 PSU Debt Fund - Growth

ICICI Prudential Flexible Income Plan 100 37,402 6,400,601 - Premium - Growth

ICICI Prudential Medium Term Plan 10 5,463,829 55,000,000 - Prem Plus - Growth

ICICI Prudential Ultra Short Term Plan 10 11,726,392 121,126,598 - Sup Prem - Growth

IDFC Money Manager - Invest Plan 10 12,904,115 184,806,287 - Plan B - Growth

Kotak Floater - LT - Growth 10 4,019,550 58,685,833

Kotak Quarterly Interval Plan 10 12,800,273 150,000,000 - Series IV - Growth

LIC MF Floating Rate Fund - ST-Growth 10 8,650 130,042

LIC MF Income Plus Fund - Growth 10 7,720,298 94,518,619

LIC MF Liquid Fund - Growth 10 6,524,044 110,000,000

UTI FIIF - Series 2 - Qtly Interval Plan VI 10 10,000,000 100,000,000 - Growth

UTI Fixed Income Interval Fund 10 5,000,000 50,000,000 - Quarterly Plan I - Growth

UTI Treasury Advantage Fund-IP-Growth 1,000 174,044 215,117,276

Total 1,530,596,565





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B. Mutual Fund units purchased and sold / redeemed during the year:

Particulars No. of Units

Own Funds

Floating Rate Fund / Liquid / Liquid Plus/Short Term

Birla Sun Life Mutual Fund 3,128,777,565.553

Deutsche Mutual Fund 148,576,911.468

DSP Blackrock Mutual Fund 3,149,526.921

Franklin Templeton Mutual Fund 1,710,434,671.921

HDFC Mutual Fund 1,379,523,632.295

ICICI Prudential Mutual Fund 886,349,444.373

IDFC Mutual Fund 564,036,025.705

Kotak Mahindra Mutual Fund 2,216,921,260.935

LIC Mutual Fund 28,921,480,664.053

Reliance Mutual Fund 25,146,596,162.649

Religare India Mutual Fund 4,731,623,929.101

SBI Mutual Fund 6,084,679,679.735

Sundaram BNP Paribas Mutual Fund 10,647,680.738

Tata Mutual Fund 1,345,629,789.586

UTI Mutual Fund 45,717,099.607

Earmarked Funds

Floating Rate Fund / Liquid / Liquid Plus/Short Term

Birla Mutual Fund 154,685,517.95

Deutsche Mutual Fund 60,262,734.79Fidelity Mutual Fund 16,741,498.90

ICICI Prudential Mutual Fund 28,279,014.80

IDFC Mutual Fund 80,507,659.53

Kotak Mahindra Mutual Fund 41,260,136.01

LIC Mutual Fund 38,478,106.91

Religare India Mutual Fund 15,005,025.15

Sundaram BNP Paribas Mutual Fund 5,694,444.20

UTI Mutual Fund 8,807,475.72

13. Earnings / Expenditure in Foreign Currency (on cash basis) :a) CIF Value of Imports:

(Rupees)



Equipments 24,020,036

Computer Software 1,343,486 3,135,111

Total 25,363,522 3,135,111



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b) Earnings:(Rupees)



Training Institute Receipts 4,302,953 9,234,787

Data feed 147,342,773 125,275,074

Other Matters (Refund) 16,899,670

Total 168,545,396 134,509,861

c) Expenses:(Rupees)



Derivative / Computer Software Expenses 2,397,935 3,680,153

Annual Subscription Charges 16,402,975 14,702,207

Training Expenses 739,008 324,406

Travelling Expenses 4,056,655 2,817,812

Directors Fees 60,000 40,000

Legal and Professional Fees 9,294,100 1,222,801

Registration & Filling Fees 115,743

Other Matters 220,919,400

Total 32,950,673 243,822,522

14. Amount of Rs. 2,782,000,000/- (Rs. 2,638,000,000/- as at 31st March, 2009) appearing as "Deposits from Trading Members" in the Balance

Sheet represents refundable deposits received from deposit based trading members. These deposits have a lock in period.

15. On the basis of the information available with the Exchange, there are no suppliers registered under the Micro, Small, and MediumEnterprises Development Act, 2006. Hence, the information as required by the Act is not given.

16. 'Computer Technology Related Expenses' include Repairs and Maintenance on Computers amounting to Rs. 213,873,244/- (Rs. 217,648,826/- as at 31st March, 2009).

17. 'Computer Technology Related Expenses' includes Rs. 107,092,130/- being technical fees paid in advance by the Exchange to an overseassoftware vendor for improvements in the trading, clearing and settlement systems of the Exchange. The above amount has beenexpensed after adjusting Rs. 16,899,670/- refunded by the software vendor, upon termination of the contract in the current year.

18. Miscellaneous Expenses include Foreign Exchange Loss of Rs. 2,152,090/- (Miscellaneous Income for the year ended 31st March, 2009included Foreign Exchange Gain of Rs. 1,331,409/-).

19. Disclosure as required under Accounting Standard -15 on "Employee Benefits" is as under:

Defined Benefit Plan - Gratuity:

Year of accounting 31st March, 2010 31st March, 2009

I Summary of Membership Data

Number of Employees 504 483

Total Monthly Salary in Rupees 18,592,068 12,523,602

Average Age 39.30 38.91

Average Past Service 11.44 11.14



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II Assumptions as at 31st March, 2010 31st March, 2009

Mortality Published rates under theLIC (1994-96) mortality tables

Discount Rate 8.30% 7.60%

Rate of increase in compensation 7.50%

For first Year 8.00%

After first Year 7.50%

Rate of return (expected) on plan assets 7.50% 7.50%

Withdrawal rate

21 to 44 years 2.50% 2.50%

45 to 60 years 1.00% 1.00%

Expected average remaining service (years) 13.30 14.39

Amount to be recognised in the Balance Sheet and Movement in net liability

III Particulars 31st March, 2010 31st March, 2009

Present Value of Funded Obligations 176,719,799 143,891,177

Fair Value of Plan Assets (143,945,280) (138,615,528)

Net Liability (32,774,519) (5,275,649)

Expenses Recognised in Profit and Loss Account

IV Particulars 31st March, 2010 31st March, 2009

Current Service Cost 11,038,466 10,064,156

Interest on Defined Benefit Obligations 11,610,541 10,202,327

Expected Return on Plan Assets (10,702,962) (9,771,478)

Net Actuarial Losses / (Gains) Recognised during the year 20,828,474 (5,887,646)

Total Included in "Employee Benefit Expense" 32,774,519 4,607,359

Actual Return on Plan Assets 3,445,966 16,189,130

Reconciliation of Benefit Obligation

V Particulars 31st March, 2010 31st March, 2009

Opening Defined Benefit Obligation 143,891,177 127,711,989

Current Service Cost 11,038,466 10,064,156

Interest Cost 11,610,541 10,202,327

Actuarial Loss / (Gain) 13,571,478 530,006

Benefits Paid (3,391,863) (4,617,301)

Closing Defined Benefit Obligation 176,719,799 143,891,177

Reconciliation of Fair Value of Plan Assets

VI Particulars 31st March, 2010 31st March, 2009

Opening Fair Value of Plan Assets 138,615,528 127,043,699

Expected Return on Plan Assets 10,702,962 9,771,478

Actuarial Gain / (Loss) (7,256,996) 6,417,652

Contributions by Employer 5,275,649

Benefits Paid (3,391,863) (4,617,301)

Closing Fair Value of Plan Assets 143,945,280 138,615,528



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Description of Plan Assets

VII Particulars 31st March, 2010 31st March, 2009

Government of India Securities 46.00% 50.00%

Corporate Bonds 44.00% 42.00%

Special Deposit Schemes 4.00% 5.00%

Others 6.00% 4.00%

Experience Adjustments:

VIII Particulars 31st March, 2010 31st March, 2009 31st March, 2008 31st March, 2007

Defined Benefit Obligations 176,719,799 143,891,177 127,711,989 114,432,068

Plan Assets 143,945,280 138,615,528 127,043,699 79,772,848

Surplus / (Deficit) (32,774,519) (5,275,649) (668,290) (34,659,220)

Experience Adjustments on Plan Liabilities 27,122,952 (1,994,948) (574,714) 879,061

Experience Adjustments on Plan Assets (7,256,996) 6,417,652 2,684,356 (2,596,391)

Other Details:

The estimates of future salary increase considered in the actuarial valuation, take into account inflation, seniority, promotion and otherrelevant factors such as supply and demand in the employment market. The above information is certified by the actuary and relied uponby the Auditors.

Expected rate of return on Plan Assets is based on expectation of the average long term rate of return expected on investments of thefund during the estimated term of the obligations.

The Employer's best estimate of the contributions expected to be paid to the plan during the next year is Rs. 10,000,000/- (Rs. 12,500,000/- for the year ended 31st March, 2009)

Amount recognised as an expense in respect of Compensated Leave Absences is Rs. 29,034,086/- (Rs. 3,626,077/- for the year ended31st March, 2009).

Defined Contribution Plan: Amount recognised as an expense and included under the head "Contribution to Provident and Other Funds" of Profit and Loss

Account is Rs. 24,192,497/-, including Rs. 812,900/- paid towards arrears (Rs. 17,369,413/- for the year ended 31st March, 2009).

20. Arrears of employee cost includes Rs. 31,991,120/- towards Salaries, Allowances and Bonus, Rs. 812,900/- towards Contribution toProvident and Pension Funds and Rs. 9,760,798/- towards Staff Welfare Expenses.

21. The Exchange has made provision of Rs. 6,606,732/- being the additional Property Tax demanded by Brihanmumbai Municipal Corporationfor the year ended 31st March, 2010. Cumulative provision as at 31st March, 2010 is Rs. 13,213,464/-. (Rs. 6,606,732/- for the year ended31st March, 2009).

22. The previous year's figures have been regrouped / reclassified, wherever necessary, to conform to the current year's presentation.

For and on behalf of the Board of Directors

Madhu Kannan S. Ramadorai

Managing Director & CEO Chairman

Ishaat Hussain Prakash R. Kacholia

Director Director




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final accounts 2009-10

Documents