Bank of baroda

BANK OF BARODA
4.
Provision for Taxes
Provision for Taxes are arrived at after due consideration of decisions of the appellate authorities and advice of
counsels. Tax paid in advance/tax deducted at source appearing under “Other Assets” includes Rs. 7151.10 million
(previous year Rs. 5778.20 million) adjusted by the Department/paid by the Bank in respect of disputed tax demands.
No provision is made for such disputed demands of income tax keeping in view the judicial pronouncements and/
or counsels’ opinion on the issues.
5.
In terms of RBI guidelines, the Bank has during the year transferred a portion of Government Securities (SLR) kept
in “Available for Sale” category to “Held to Maturity” category. The resultant depreciation of Rs. 7380.80 million has
been charged to Profit & Loss Account.
6.
The Bank has made a provision of Rs. 28.30 million during the year towards country risk management.

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ANNEXURE A-VIII
Related Party Transactions:
The Related party transactions are as under:
Remuneration to Key Management Personnel are as under:
Rs. in Millions
Year
2002-03
2003-04
2004-05
Sep-05
Remuneration
1.00
1.02
0.82
0.47
Name of the party
P S Shenoy, CMD
P S Shenoy, CMD
A K Khandelwal, CMD
A K Khandelwal, CMD
from 1.3.05
P S Shenoy CMD upto
28.2.05
A K Khandelwal, ED
A K Khandelwal
K.Ramakrihsnan,
K.Ramakrihsnan, ED
ED, upto 4.2.04
ED from 27.8.04
upto 8.6.05.
A C Mahajan, ED from
18.6.05.
The Subsidiaries and associates as at 31.03.05 are as under:
(a)
Subsidiaries:
(1)
BOB Housing Finance Limited; (2) BOB Asset Management Co. Ltd.; (3) BOB Capital Market Limited; (4) BOB
Cards Ltd; (5) Nainital Bank Limited; (6) Bank of Baroda (Botswana) Limited; (7) Bank of Baroda (Kenya)
Limited; (8) Bank of Baroda (Uganda) Limited; (9) Bank of Baroda (Hong Kong) Ltd; (10) Bank of Baroda
(Guyana) Inc.; (11) BOB (UK) Ltd.; and (12) Bank of Baroda (Tanzania) Limited.
(b)
Associates:
Indo Zambia Bank Limited; UTI Asset Management Co. (P) Ltd.; and 19 Regional Rural Banks sponsored by the
Bank.
(1)
Raebareli Kshetriya Gramin Bank; (2) Sultanpur Kshetriya Gramin Bank; (3) Allahabad Kshetriya Gramin
Bank; (4) Kanpur Kshetriya Gramin Bank; (5) Pratapgarh Kshetriya Gramin Bank; (6) Fatehpur Kshetriya
Gramin Bank; (7) Faizabad Kshetriya Gramin Bank; (8) Bareilly Kshetriya Gramin Bank; (9) Shahjahanpur
Kshetriya Gramiin Bank; (10) Nainital Almora Kshetriya Gramin Bank; (11) Marudhar Kshetriya Gramin Bank;
(12) Aravali Kshetriya Gramin Bank; (13) Bundi Chittorgarh Kshetriya Gramin Bank; (14) Bhilwara Ajmer
Kshetriya Gramin Bank; (15) Dungarpur Banswara Kshetriya Gramin Bank; (16) Panchmahal Vadodara Gramin
Bank; (17) Valsad Dangs Gramin Bank; (18) Surat Bharuch Gramin Bank; and (19) Jhabua Dhar Kshetriya
Gramin Bank.
The transactions with Subsidiaries and associates have not been disclosed in view of Para 9 of AS-18 – Related Party
Disclosure, which exempts state controlled enterprises from making any disclosure pertaining to their transactions with
other related parties that are also state controlled.

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