14. Short-term borrowings

The Company has the following borrowing facilities:

(a)

fund-based and non-fund-based credit facilities with banks which are available for operational requirements in the form of overdrafts, letters of credit, guarantees, short-term loans excluding forward hedging. As of September 30, 2011, the limits available was $20,560 and an amount of $4,082 was outstanding for non funded facility.

(b)

fund-based and non-fund-based revolving credit facilities of $260,000 for operational requirements expiring May 2015. This was initially used for the acquisition of Headstrong Corporation. As of September 30, 2011, a total of $259,133 was utilized, representing a funded drawdown of $252,000 and non-funded drawdown of $7,133. These facilities bear interest at LIBOR plus a margin 1.65%. Indebtedness under these facilities is secured by certain assets. The agreement contains certain covenants including a restriction on further indebtedness of the Company.