LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED

(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)

AS AT AS AT
31-03-2010 31-03-2009
Rs. Rs.

Current Assets, Loans & Advances

Advances Recoverable in Cash or in Kind
DEPOSIT WITH B.E.S.T. 415,278 415,278
TELEPHONES - O.Y.T. 52,409 50,409
TELEPHONE DEPOSIT (GENERAL) 20,160 4,160
DEPOSIT 487,847 469,847
ADVANCE TO OTHERS 10,124,885 1,241,772
SUNDRY ADVANCE 3,741,852 3,645,112
OTHER ADVANCES TO EMPLOYEES 1,994,113 2,844,060
ADVANCE TRAVELLING EXPENSES 2,309 12,259
RECOVERY FROM KARVY 108,648 95,604
RECOVERABLE NIF EXPENSES 30,972 62,561
Sundry Recoveries 1,001,291 600,500
OTHER RECEIVABLES 1,140,911 758,665
SUNDRY DEPOSITS RECOVERABLE 163,017 160,517
SUNDRY DEPOSITS 14,029,754 5,047,401
ADVANCE INCOME TAX SALARIES - 117,782
SERVICE TAX CREDIT RECEIVABLE 1,073,609 637,929
Salary Other Ded 629 629
ADVANCES TO EMPLOYEES 1,997,051 2,856,948
PREPAID EXPENSES 446,458 228,856
Accrued Interest - 56,301
19,175,630 10,173,730

LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED

AS AT AS AT
31-03-2010 31-03-2009
Rs. Rs.
Current Liabilities
LICMF CURRENT ACCOUNT 14,739,410 51,041,398

14,739,410 51,041,398
Other Liabilities
LIC CURRENT ACCOUNT (C.O.) 90,697 17,942
OUTSTANDING EXPENSES 104,736,200 54,456,658
RETENTION MONEY 80,158 80,158
CHEQUES CANCELLED A/C 3,470,991 5,735,621
SERVICE TAX PAYABLE 23,904,894 5,140,820
Income Tax payable - 372,032
TDS PAYABLE 586,215 338,152
OTHER DEDUCTIONS 124,020 46,116
Provision for Gratuity 1,173,112 346,694
LEAVE ENCASHMENT 5,612,279 6,330,802
SUSPENCE ACCOUNT - 274,286
139,778,566 73,139,281

Bank Balances 31-03-2010 31-03-2009

AREA OFFICE BANK ACCOUNTS (NET) 8,477,971 -

BANK A/C - GROUP GRATUITY SCHEME 9,829 -
ICICI BANK LTD 6,700,959 66,844,046
AXIS BANK 2,770,472 -
17,959,231 66,844,046
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
BALANCE SHEET AS AT 31 ST MARCH 2010

SCH AS AT 31-3-10 AS AT 31-3-09

Rs. Rs. Rs. Rs.
SOURCE OF FUNDS

SHARE HOLDERS FUNDS

( a ) CAPITAL A 100,000,000 100,000,000
( b ) RESERVES AND SURPLUS B 1,338,960,469 690,568,092
( c ) DEFFERED TAX LIABILITY 2,374,841 317,679

TOTAL 1,441,335,310 790,885,771

APPLICATION OF FUNDS

FIXED ASSETS
( a ) GROSS BLOCK C 87,209,350 61,329,579
( b ) LESS : DEPRECIATION 51,743,067 37,008,253
( C ) NET BLOCK 35,466,283 24,321,327
CAPITAL WORK-IN-PROGRESS - 15,575,558

INVESTMENTS D 1,315,739,948 787,960,255

CURRENT ASSETS, LOANS AND

ADVANCES E
( 1 ) INVENTORY 137,650 111,300
( 2 ) SUNDRY DEBTORS 229,752,413 36,032,073
( 3 ) CASH & BANK BALANCE 18,007,475 66,891,422
( 4 ) OTHER CURRENT ASSETS - -
( 5 ) LOANS & ADVANCES 635,537,955 268,232,585
883,435,493 371,267,379
LESS : CURRENT LIABILITIES AND
PROVISIONS F
( 1 ) LIABILITIES 154,517,976 124,180,679
( 2 ) PROVISIONS 638,788,438 284,058,068
793,306,414 408,238,747
NET CURRENT ASSETS 90,129,079 (36,971,368)
TOTAL 1,441,335,310 790,885,771

SCHEDULES A TO F ANNEXED HERETO FORM AN INTEGRAL PART OF THE BALANCE SHEET

NOTES TO ACCOUNTS AND SIGNIFICANT ACCOUNTING POLICIES : SCHEDULE "L"

AS PER OUR REPORT OF EVEN DATE ATTACHED.

FOR CHATURVEDI & CO. FOR AND ON BEHALF OF BOARD OF DIRECTORS OF

CHARTERED ACCOUNTANTS LIC MUTUAL FUND ASSET MANAGEMENT CO. LTD.

D.S.R.MURTHY
PARTNER CHAIRMAN CHIEF EXECUTIVE DIRECTOR
OFFICER

PLACE : MUMBAI
DATE :15/06/2010 COMPANY SECRETARY Dy. GEN. MANAGER
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 ST MARCH 2010

SCH 01-04-2009 TO 01-04-2008 TO

31-03-2010 31-03-2009
Rs. Rs.
INCOME
MANAGEMENT FEES (GROSS) 1,842,343,948 728,330,531
INTEREST AND DIVIDEND G 787,819 3,083,988
PROFIT ON MATURITY OF BONDS 26,000,000 24,931,507
PROFIT ON SALE OF MF Units 73,803,109 26,862,976
PROFIT/LOSS ON SALE OF FIXED ASSETS 59,989 124,817
MISCELLANEOUS INCOME H 13,773,327 1,033,807
TOTAL 1,956,768,192 784,367,626
EXPENDITURE

PUBLICITY EXPENSES 40,172,113 24,969,041

SALARY AND BENEFITS TO EMPLOYEES I 142,716,279 87,563,390
ADMINISTRATIVE EXPENSES J 630,869,968 262,457,875
OTHER EXPENSES K 4,558,934 11,315,237
DEPRECIATION 15,033,636 8,450,466
SCHEME EXPENSES 16,221,473 51,524,879
PROFIT CARRIED FORWARD 1,107,195,789 338,086,738
TOTAL 1,956,768,192 784,367,626
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE A: SHARE CAPITAL

AS AT AS AT
31-03-2010 31-03-2009
Rs. Rs.

AUTHORISED

25,000 EQUITY SHARES OF Rs.10,000/- EACH 250,000,000 250,000,000

ISSUED, SUBSCRIBED & PAID UP

10,000 EQUITY SHARES OF Rs 10,000 EACH 100,000,000 100,000,000

FULLY PAID UP

TOTAL 100,000,000 100,000,000

 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE B : RESERVES AND SURPLUS

AS AT AS AT
31-03-2010 31-03-2009
Rs. Rs. Rs. Rs.

GENERAL RESERVE
OPENING BALANCE 419,640,000 369,640,000
TRANSFERRED FROM PROFIT & LOSS A/C 100,000,000 519,640,000 50,000,000 419,640,000

BALANCE IN PROFIT & LOSS ACCOUNT 819,320,469 819,320,469 270,928,092 270,928,092

1,338,960,469 690,568,092
 LIC MF ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE C : FIXED ASSETS (2009-2010) (In Rupees)
HEAD OF ACCOUNT Rate GROSS BLOCK DEPRECIATION NET BLOCK
of Opening Additions Deletions Total Cumulative For the Year On Cumulative As on As on
Depn Balance as on During the During the As at Upto 31.03.09 On Op. Bal On On Total Assets upto 31.03.10 3/31/2010 3/31/2009
% 4/1/2009 Year Year 3/31/2010 Additions Deductions 3/31/2010 sold/Adj
FURNITURE 10.00 12,946,636 17,610,906 - 30,557,542 8,723,398 910,488 339,968 1,250,456 - 9,973,854 20,583,689 4,223,239
CANTEEN EQUIPMENT 10.00 32,285 - - 32,285 29,690 2,592 - 2,592 - 32,282 3 2,596
MOTOR CAR 20.00 1,365,877 2,734,331 - 4,100,208 225,568 273,175 589,633 862,808 - 1,088,376 3,011,832 1,140,309
REFRIGERATORS & A/Cs 10.00 2,440,101 4,153,974 410,300 6,183,775 1,940,384 244,010 67,036 311,046 298,818 1,952,612 4,231,162 499,717
COMPUTERS 30.00 32,117,698 1,109,664 11,232 33,216,130 21,168,819 9,635,310 172,820 1,726 9,806,404 - 30,975,223 2,240,906 10,948,879
WEIGHING MACHINES 10.00 3 - - 3 - - - - - - 3 3
WATER COOLER 10.00 78,727 26,001 - 104,728 70,742 885 2,201 3,086 - 73,828 30,900 7,985
XEROX & DUPLICATERS 10.00 456,634 - - 456,634 442,667 13,961 - 13,961 - 456,628 6 13,967
PEDASTAL FANS 10.00 94,309 2,055 - 96,364 94,302 - 2,054 2,054 - 96,356 8 6
FRANKING MACHINES 10.00 - - - - - - - - - - - -
MISC CAPITAL EQUIPMENT 10.00 4,245,651 623,116 - 4,868,767 2,206,357 427,176 84,689 511,865 - 2,718,222 2,150,544 2,039,293
PERPETUAL LICENCE 30.00 7,540,000 41,256 7,581,256 2,094,674 2,262,000 7,361 2,269,361 4,364,035 3,217,221 5,445,326
LIBRARY BOOK 11,659 - 11,659 11,651 - - 11,651 8 8
TOTAL 61,329,579 26,301,302 421,532 87,209,350 37,008,252 13,769,598 1,265,762 1,726 15,033,636 298,818 51,743,067 35,466,283 24,321,327
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE D : INVESTMENTS

AS AT AS AT
31-03-2010 31-03-2009
C. UNITS OF MUTUAL FUND
LONG TERM
LICMF GROWTH FUND GROWTH PLAN - 0.00 UNITS - 77,300,000.01
(Net Asset Value NIL )

LICMF EQUITY FUND GROWTH PLAN - 0.00 UNITS - 15,000,000.00

(Net Asset Value NIL)

LICMF INDEX FUND -NIFTY- DIVIDEND PLAN -0.00 UNITS - 33,877,150.74

(Net Asset Value Rs.NIL)

LICMF LIQUID FUND - GROWTH PLAN - 0.00 UNITS - 104,916,665.37

(Net Asset Value Rs.NIL)

LICMF FLOATING RATE FUND -SHORT TERM PLAN - GROWTH PLAN - 494,295,121 64,228,308.99
33121818.276 UNITS ( Net Asset Value Rs.500874760.33 )

LICMF FLOATER MIP PLAN A- GROWTH PLAN - 0.00 UNITS - 20,000,000.00

(Net Asset Value NIL)

LICMF BALANCED FUND - GROWTH PLAN - 0.00 UNITS - 10,000,000.00

(Net Asset Value NIL)

LICMF INTERVAL FUND-QUARTERLY PALN-SERIES-2-Quarterly Growth 240,000,000 -

Plan 21549982.490 Units (Net Asset Value Rs.241504188.77)

SHORT TERM
LICMF INCOME PLUS - 973757.242 units 7,701,622 155,011,421.99
(Net Asset Value Rs.8248115.40)

LICMF SAVINGS PLUS FUND (GROWTH OPTION) 2733827.701 UNITS 563,743,205 95,000,000.00
(Net Asset Value Rs.574827681.67)
LICMF SAVINGS PLUS FUND (MONTHLY OPTION) 0.00 UNITS - 2,626,707.58
(Net Asset Value NIL)

HOME SOLUTIONS PVT. LTD.(Un Quoted) - 200,000,000.00

IIFCL TAX FREE BONDS ( Un Quoted ) 10,000,000 10,000,000.00

1,315,739,948 787,960,254.67
Total Market Value as on 31.03.2010- Rs 1325454746
(excluding Home Solutions Pvt. Ltd. & IIFCL Tax Free Bonds)
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE E : CURRENT ASSETS , LOANS AND ADVANCES

AS AT 31-03-2010 AS AT 31-03-2009
Rs. Rs. Rs. Rs. Rs. Rs.

( a ) CURRENT ASSETS

1.INVENTORY
STOCK OF AMFI BOOKS ( AT COST ) 137,650 111,300
137,650 111,300
2. SUNDRY DEBTORS , UNSECURED CONSIDERED
GOOD LESS THAN SIX MONTHS
MANAGEMENT FEES RECEIVABLE 229,752,413 229,752,413 36,032,073 36,032,073

3. CASH AND BANK BALANCES

CASH ON HAND 44,129 43,261
BALANCES WITH SCHEDULED BANKS IN CURRENT A/C 17,959,231 66,844,045
STAMPS ON HAND 4,115 18,007,475 4,115 66,891,422

4. OTHER CURRENT ASSETS - UNSECURED

CONSIDERED GOOD

5. LOANS AND ADVANCES

( UNSECURED CONSIDERED GOOD )

a. ADVANCES RECOVERABLE IN CASH OR 19,175,630 10,173,730

IN KIND OR FOR VALUE TO BE RECEIVED

b. ADVANCE INCOME TAX 254,700,000 82,100,000

TAX DEDUCTED AT SOURCE 356,490,614 611,190,614 157,997,646 240,097,646

c. ADVANCE FRINGE BENEFITS TAX 3,624,879 4,334,879

d.INCOME TAX REFUND RECEIVABLE 1,546,832 635,537,955 13,626,330 268,232,586
(NET OF REFUNDS RECEIVED)

883,435,493 371,267,379
 LIC MUTUTAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE F : CURRENT LIABILITIES AND PROVISIONS

AS AT AS AT
31-03-2010 31-03-2009
Rs. Rs.

( a ) CURRENT LIABILITIES

SUNDRY CREDITORS 14,739,410 51,041,398

OTHER LIABILITIES 139,778,566 73,139,281

154,517,976 124,180,679
( b ) PROVISIONS
PROVISION FOR TAXATION 544,500,000 218,100,000
PROPOSED DIVIDEND 75,000,000 50,000,000
TAX ON DIVIDEND 12,746,250 8,497,500
1656 PROVISION FOR CONTINGENCIES 3,116,565 3,116,565
PROVISION FOR FRINGE BENEFIT TAX 3,425,623 4,344,003

638,788,438 284,058,068
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
SCHEDULE G : INTEREST AND DIVIDEND

01-04-2009 TO 01-04-2008 TO
31-03-2010 31-03-2009
Rs. Rs.

Interest On Bonds 662,479 56,301

Other Interest 37,790 2,900,979
DIVIDEND ON LIC MF UNITS 87,550 126,708
787,819 3,083,988

Schedule H - Miscellaneous Income

Excess Provision on Leave encashment 718,523 -
OTHER RECEIPTS 2,025,937 887,509
INTEREST ON REFUND ON I.T. 3,093,648 -
AMOUNT WRITTEN BACK 2,775,644 146,297
Excess Provision of I.Tax written back for A.Y. 07-08 5,159,575 -

13,773,327 1,033,807
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)

SCHEDULE I : SALARIES AND BENEFITS TO EMPLOYEES

01-04-2009 TO 01-04-2008 TO
31-03-2010 31-03-2009
Rs. Rs.

BASIC PAY - OFFICERS 20,480,189 16,836,219

BASIC PAY - STAFF 15,400,238 10,863,478
OTHER ALLOWANCES - OFFICERS 73,589,974 19,164,696
OTHER ALLOWANCES - STAFF 7,845,758 20,620,899
OTHER ALLOWANCES - SUB STAFF 14,920 35,340
FIXED CONVEYANCE ALLOWANCE 5,904 10,125
INCENTIVE TO RELATIONSHIP MANAGERS 2,509,799 116,849
OVER TIME 10,807 12,472
P F - EMPLOYERS CONTRIBUTION 1,855,323 1,037,135
OTHER STAFF WELFARE AMENITIES 7,055,190 4,079,456
MEDICLAIM - LICMF CONTRIBUTION 259,596 546,517
GRATUITY TO EMPLOYEES 2,308,952 1,151,881
EMPLOYERS CONT PENSION FUND 1,053,857 833,907
LEASE ACCOMODATION RENT 1,362,071 972,858
FIXED PERSONNEL ALLOWANCE 49,160 40,179
TRAVELLING EXPENSES 4,061,152 3,243,134
MOTOR CAR RUNNING EXPENSES 2,991,555 3,064,188
LEAVE TRAVEL CONCESSION 853,051 316,408
ENTERTAINMENT EXPENSES 352,690 307,394
ENCASHMENT OF PREVILEGE LEAVE. 352,372 4,512,153
ENCASHMENT OF CASUAL LEAVE 303,721 231,717

142,716,279 87,997,005
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)

SCHEDULE J : ADMINISTRATIVE EXPENSES

01-04-2009 TO 01-04-2008 TO
31-03-2010 31-03-2009
Rs. Rs.
CONVEYANCE 2,053,508 1,715,814
PRINTING & STATIONERY 4,531,225 4,107,521
POSTAGE,TELEGRAM & COURIER 4,027,219 7,048,396
COMMISSION / INCENTIVE TO AGENTS 547,059,494 192,509,028
COMPUTER CHARGES 8,507,765 2,294,421
LEGAL CHARGES 719,035 792,010
RECRUITMENT EXPENSES 273,446 491,842
BANK CHARGES 69,001 76,966
TRAINING EXPENSES 357,234 151,115
SITTING FEES TO BOARD MEMBERS 230,000 160,000
AUDIT FEES
STATUTORY AUDIT FEES 75,000 100,000
TAX AUDIT FEES 25,000 -
TOTAL 100,000 100,000
INTERNAL AUDIT FEES 110,000 85,000
PROFESSIONAL TAX 5,345 -
TRAVELLING & OTHER BOARD EXPENSES 785,429 1,332,109
TRANSFER TRAVELLING EXPENSES 78,044 281,431
SEMINAR/MEETING/CONFERENCE EXP 2,922,969 2,409,456
PROFESSIONAL FEES 13,735,955 7,544,714
SERVICE FEES TO SEBI - 2,055
MISCELLENEOUS EXPENSES 2,813,423 897,010 1114754
INTEREST ON DELAY PAYMENT 118,172 989,111
PENALTY AND INTEREST ON I.T. 4,834,780 -
EXCESS/SHORT PROVISION - 1,370
PERIODICALS AND JOURNALS 328,018 269,222
OFFICE UPKEEP 3,744,845 3,192,299
TELEPHONE CHARGES 5,077,207 4,532,735
REPAIRS TO FURNITURE/OFF.EQP. 89,832 79,944
RENT,RATES,TAXES FOR PREMISES 15,166,719 21,808,965
ELECTRICITY EXPENSES 4,643,764 3,774,505
MAINTENANCE CHARGES FOR P.C. 2,166,835 1,733,330
SUNDRY OFFICE EXPENSES & EQUIPMENT 148,802 63,090
INSURANCE CHARGES 379,810 574,855
RENEWAL CHARGES 37,740 10,400
SERVICE CONTRACT CHARGES 433,651 465,766
RENTAL CHARGES-BUSINESS WATCH 5,320,701 4,018,889
630,869,968 263,513,367
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)
Schedule K - Other Expenses

01-04-2009 TO 01-04-2008 TO
31-03-2010 31-03-2009
Rs. Rs.

REGISTRATION FEES 1,133,953 472,996

RATING FEES 1,777,675 -
PROCESSING FEES 205,600 220,000
FILING FEES TO CENTRAL GOVT. 10,891 168
SCHEME FILING FEES 830,815 8,525,453
AMFI-MEMBERSHIP FEE 600,000 600,000
4,558,934 9,818,617
 LIC MUTUAL FUND ASSET MANAGEMENT COMPANY LIMITED
(FORMERLY JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LTD.)

BALANCE SHEET ABSTRACT AND A COMPANY'S GENERAL BUSINESS PROFILE

I REGISTRATION DETAILS
REGISTARATION NO 11-77858 STATE CODE 11(REFER CODE LIST)
BALANCE SHEET 31 3 2010
DATE MONTH YEAR

II CAPITAL RAISED DURING THE YEAR ( AMOUNT IN RS CRORES)

PUBLIC ISSUE NIL RIGHTS ISSUE NIL

III POSITION OF MOBILISATION

AND DEPLOYMENT OF FUNDS (AMOUNTS IN RS CRORES)

TOTAL LIABILITIES 144.13 TOTAL ASSETS 144.13

SOURCES OF FUNDS

PAID UP CAPITAL 10 RESERVES & SURPLUS 133.90

SECURED LOANS NIL UNSECURED LOANS NIL

APPLICATION OF FUNDS

NET FIXED ASSETS 3.55 INVESTMENTS 131.57

NET CURRENT ASSETS 9.01 MISC EXPENDITURE NIL

ACCUMULATED LOSSES NIL

IV PERFORMANCE OF COMPANY(AMOUNT IN RS CRORES)

TURNOVER (GROSS) 195.68 TOTAL EXPENDITURE 84.96

+/- PROFIT/LOSS BEFORE TAX 110.72 +/- PROFIT/LOSS AFTER TAX 73.61

(PLEASE TICK APPROPRIATE BOX = FOR PROFIT - FOR LOSS)

EARNINGS PER SHARE IN RS 73,614 DIVIDEND @ 75%

V GENERIC NAMES OF THREE PRINCIPAL PRODUCTS /SERVICES OF COMPANY

(AS PER MONETARY TERMS)
ITEM CODE NO (ITC CODE)
PRODUCT DESCRIPTION : ASSET MANAGEMENT COMPANY

FOR CHATURVEDI & CO. FOR AND ON BEHALF OF BOARD OF DIRECTORS OF

CHARTERED ACCOUNTANTS LIC MUTUAL FUND ASSET MANAGEMENT CO. LTD.

D.S.R.MURTHY
PARTNER CHAIRMAN CHIEF EXECUTIVE OFFICER DIRECTOR

PLACE : MUMBAI
DATE :15/06/2010 DY. GEN. MANAGER COMPANY SECRETARY