ICICI Bank 2011 Annual Report Download - page 109

F31
24. Financial assets transferred during the year to securitisation company (SC)/reconstruction company (RC)
The Bank has transferred certain assets to Asset Reconstruction Companies (ARCs) in terms of the guidelines issued by
RBI governing such transfer. For the purpose of the valuation of the underlying security receipts issued by the underlying
trusts managed by ARCs, the security receipts are valued at their respective NAVs as advised by the ARCs.
The following table sets forth, for the periods indicated, the details of the assets transferred.
` in million, except number of accounts
Year ended
March 31, 2011
Year ended
March 31, 2010
Number of accounts1............................................................................................ —55,160
Aggregate value (net of provisions) of accounts sold to SC/RC ........................ —7,617.9
Aggregate consideration ...................................................................................... —7,866.7
Additional consideration realised in respect of accounts transferred in earlier years2——
Aggregate gain/(loss) over net book value ......................................................... —248.8
1. Excludes accounts previously written-off.
2. During the year ended March 31, 2011, asset reconstruction companies have fully redeemed security receipts of two trusts. The
Bank realised ` 67.6 million over the gross book value in respect of these trusts (March 31, 2010: ` 89.8 million).
25. Information in respect of restructured assets
The following table sets forth, for the periods indicated, details of loan assets subjected to restructuring.
` in million
Year ended March 31, 2011 Year ended March 31, 2010
CDR
Mechanism
SME Debt
Restructuring
Others
CDR
Mechanism
SME Debt
Restructuring
Others
Standard advances
restructured3
Number of
borrowers 4 2 60 11 11 3,806
Amount outstanding 993.7 99.4 11,627.7 14,186.6 397.6 40,918.8
Amount restructured 964.6 89.7 11,024.6 12,444.3 251.4 39,248.4
Sacrifice (diminution
in the fair value) 132.5 — 645.2 1,006.0 4.8 1,406.5
Sub- standard
advances
restructured
Number of
borrowers — — 5 3 1 98
Amount outstanding — — 1,215.2 640.2 77.8 288.2
Amount restructured — — 1,216.6 624.3 77.8 244.9
Sacrifice (diminution
in the fair value) — — 651.1 80.7 5.9 8.7
Doubtful advances
restructured
Number of
borrowers — — 2 — — 3
Amount outstanding — — 321.7 — — 207.2
Amount restructured — — 360.4 — — 187.8
Sacrifice (diminution
in the fair value) — — — — — 17.5
Total Number of borrowers 4 2 67 14 12 3,907
Amount outstanding 993.7 99.4 13,164.6 14,826.8 475.4 41,414.2
Amount restructured 964.6 89.7 12,601.6 13,068.6 329.2 39,681.1
Sacrifice (diminution
in the fair value) 132.5 — 1,296.3 1,086.7 10.7 1,432.7
1. The aforesaid disclosure for the year ended March 31, 2011, includes the reversal of interest income of ` 176.7 million
(March 31, 2010: ` 704.3 million) on account of conversion of overdue interest into Funded Interest Term Loan (FITL).
2. The aforesaid disclosure excludes the reversal of derivative income of ` 18.5 million for the year ended March 31, 2011 (March 31, 2010:
` 303.1 million) on account of conversion of derivative receivables into term loan/preference shares.
3. Includes eight borrowal accounts restructured for a second time with asset classification benefit upto June 30, 2009, amounting
to ` 24,280.8 million against which sacrifice (diminution in fair value) was ` 1,498.1 million.
4. Amount outstanding represents the borrower level balances (including facilities not restructured) at the end of the quarter in
which the restructuring scheme is implemented.
forming part of the Accounts (Contd.)
schedules