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This excerpt taken from the INFY 6-K filed Jul 28, 2005. 2.7 Related parties The company provides loans to eligible employees in accordance with policy. No loans have been made to employees in connection with equity issues. The employee loans are repayable over fixed periods ranging from 1 to 100 months. The annual rates of interest at which the loans have been made to employees vary between 0% through 4%. Loans aggregating $25 million were outstanding as of March 31, 2005 and June 30, 2005. The required repayments of employee loans outstanding as of June 30, 2005 are as detailed below. (Dollars in millions) |
This excerpt taken from the INFY 20-F filed Apr 26, 2005. 2.8 Related parties
The company provides loans to eligible employees in accordance with policy. No loans have been made to employees in connection with equity issues. The employee loans are repayable over fixed periods ranging from 1 to 100 months. The annual rates of interest at which the loans have been made to employees vary between 0% through 4%. Loans aggregating $27 million and $25 million were outstanding as of March 31, 2004 and 2005.
The required repayments of employee loans outstanding as of March 31, 2005 are as detailed below.
(Dollars in millions)
The estimated fair values of related party receivables amounted to $24 million and $21 million as of March 31, 2004 and 2005. These amounts have been determined using available market information and appropriate valuation methodologies. Considerable judgment is required to develop these estimates of fair value. Consequently, these estimates are not necessarily indicative of the amounts that the company could realize in the market.
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