EFTA01367086.pdf

Amendment #4 Page 657 of 868 ate of col an The change in valuation allowance is 'Me 10,513,293 and INR 33,720277 dung the year ended December 31, 2014 and December 31. 2013, respectively. The 2014 arid 2013 tax years remain open to examration by tax authorities The Companies have recognized tax benefts only for tax positions that are more likely Man not tote sustained icon exammaton by tar auttorites As of December 31. 2014 and 2013, tiro total unrecognized tax benefits amourted to MIR 13.900.766 and INR 13900,766, respectively, towards tar tenth!, and decks-D[44y of expenses when result in a reduction of trabsorbed deprecation carryfonvards The gross amount of increase in unrecognized tax tenets s INR Ni and INR 12,946,162 dung the years ended December 31, 2014 and December 31.2011 respectwery relating to current year tax positions These unrecognized tax benefits, d recognised. would affect the effective tax rate. Gwen the expectation that the carry/awards would be expected to be utilized during the tax holiday periods, these unrecognized tax tenet ts would terve no overall tax Aspect 9. Related parties Management old technical fees The Companies entered irto a Technical and Managemert Services Agreement oathFERSA, whereby FERSA viii provide technical and management services such as provision of financial services, advising and supportrg on day to day operational issues and provision and coact nation of legal and tax adnce, pnrranly on a cost reimbursement basis. plus a 7.5% fee on arm length's tests Costs incurred for these services were INR 26.725.599 and INR 8,004.659 for the years ended December 31. 2014 and 2013. respectwety Related amounts were reported as cost of operations in the combned statements of income and were reflected in operating activities in the combred statements of cash fbws Arnants payable b FERSA (included in 'Due to retailed parties) in respect of the above management and technical fees is INR 6,412042 and INR 8.004,650 as at December 31. 2014 and 2013. respectitely Na parent lavisher,' Net pared inrestment account represents cornrron stock and adatonal paid in capital of ENRE. GEI and BOAR net of intercompany investments Holders of comrron stock are ended to one vote per stare. and to receive dMdends and. upon liquidator' or dissolution. are entitled to receive all assets eyelet:1e for distribution to stcanciders. The holders rave no preemptrve or other subscription ogles and there are ro redemptiona ariong fund provisions with respect to such snares 10. Commarnents and contingencies From time to time, the Comperes have become involved in claims and legal matters ansog In the ordnary one of tisane Management re not currentry aware or any matters that will have a material adverse effect on the financial poston, results d operations, or cash flows of the Comperes Conehgency There are certain perOng matters relating to the sub-lease of finites n certain portions of lands for ale of the prqects in which tie lessor holds lease rights The sub- lease is subect approvals from certain governrnent authontes Tre project company believes that there are no irregularities in its ropt to use De land and based on the opinion of its legal coursel believes that the likelihood of an unfavourable outcome of its lease rights of Me sad and is not probable In addition, the Company believes that na further settlement or any sonficart additional lability is expected on accourt of such matters pendng resolution F.337 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058614 CONFIDENTIAL SDNY_GM_00204798 EFTA01367086