Refer to the extracts from the annual report 200506 of Hindalco Industries Ltd. regarding its investment in

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Refer to the extracts from the annual report 2005–06 of Hindalco Industries Ltd. regarding its investment in its joint venture IDEA Cellular Ltd. as illustrated in this chapter. Analyse the case and attempt the following requirements:
1. Has the company made the disclosures in accordance with AS-27? How or how not?
2. Analyse the impact of financial position and performance of IDEA Cellular Ltd. on the financials of Hindalco Industries Ltd.
3. How do the disclosures required by AS-27 help an analyst?
For your information IDEA Cellular Ltd. was running under losses for long till March 2004. It turned around in the year 2004–05.

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