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Notes to Accounts of Gujarat NRE Coke Ltd.

Mar 31, 2014

1.1 Contingent liabilities not provided for in respect of: (Rs. in Crores) As on As on 31st March 31st March 2014 2013

i Letter of Credits outstanding for purchase of materials. - 1.16

ii Outstanding Bank Guarantees and Counter / Corporate Guarantees 2,893.29 2,667.05 given on behalf of various companies.

iii Capital commitments 58.08 59.17

iv Bills discounted under letter of credit with banks 13.36 41.89

v Duty on account of Advance Authorisation against Export obligation. 4.87 4.87

vi On Balance Sheet date, the disputed amount involved in four income-tax 9.02 6.77 demands( Previous Year four) under appeal (The management is of view that the outcome of the appeal would be favourable to the company, hence no provision has been made against these income-tax demands. )

vii A demand raised by the Service tax department, against which company 3.39 0.06 has filed an appeal to the jurisdiction authorities.

viii A demand raised by the Custom department, against which company has 12.50 1.11 filed an appeal to the jurisdiction authorities.

1.2 Greenearth Resources & Projects Limited (formerly known as Austral Coke & Projects Limited) had filed a defamation suit in Hon''ble Bombay High Court against the Company for Rs.600 Crores. The Company had also filed Civil Suit in Hon''ble Calcutta High Court against Austral Coke & Projects Limited, all its Directors, its merchant bankers and Auditors and others claiming for loss of damages worth Rs.4761 crores. Management is confident that outcome of the defamation suit filed by the Austral Coke & Projects Limited would be in favour of the company.

1.3 In the year 2007, the company and Armada Singapore Pte Ltd ("Armada") entered into five year charter party agreement which provided, inter alia, for Armada to provide vessels to ship the company''s tonnage, namely coal from various destinations worldwide. During the year 2009 Armada entered into Judicial Management, a Singaporean insolvency regime. As a result of Armada''s insolvency, the Company did not make further nominations since there was no assurance or security for Armada''s performance for the balance period under the agreement.

In the year 2010 Armada filed its claim submission in an arbitration proceeding against the company in London for the year 2009 and 2010 and after all the repetitive challenges by the company w.r.t the defect in constitution of the Tribunal, the Tribunal passed an award in favour of Armada assessing the liability of the company as equivalent to Rs. 46 Crores (including interest of Rs. 3.7 Crores). Aggrieved by the aforesaid order the company has filed a civil suit against Armada with the Hon''ble High Court at Calcutta claiming for damages for an amount of Rs 144 Crores and cancellation of the aforesaid award being void and restraining Armada from giving any effect to the award passed by the Tribunal. An order was passed by the Hon''ble High Court at Calcutta restraining Armada to take any further steps to enforce the award passed by the Tribunal in India. The matter is presently sub judice before the Hon''ble High Court at Calcutta.

Meanwhile Armada executed an enforcement proceeding before the Federal Court of Australia, New South Wales which passed a freezing order of the assets held by the company in Australia. The company had challenged such enforcement proceedings before the same court and the final judgment is reserved by the court and is pending till date.

Armada later on filed its claim submission against the company for the non-performance of contract for the year 2011 before the same arbitral tribunal in London which passed a further award in favour of Armada assessing the liability of the company as equivalent to Rs.25.4 Crores (including interest of Rs. 1.2 Crores). An appeal was filed by the company against said order before High Court of Justice, Queen''s Bench Division, Commercial Court in England which is pending before the said court. Thereafter, a petition was filed in High Court at Calcutta against the said award of the arbitral tribunal for its cancellation. Affidavit in oppositions were filed by both the parties and the matter is presently sub judice before the Hon''ble High Court at Calcutta.

During the year 2012, the company sought performance under the agreement from Armada, who failed to perform as per the terms of the agreement, which event was taken as repudiation of the agreement and the agreement was terminated. On the contrary, Armada filed another claim in March 2013 for non-performance for the year 2012 for an amount equivalent to Rs. 27 Crores and interest thereupon. The company has filed a counter claim for an amount equivalent to Rs 60 Crores and strongly opposed the claim of Armada before a newly constituted Arbitral Tribunal.

The Arbitration hearing was held in London in the month of December 2013 and the order was published in January 2014 wherein the argument of Armada in regard to five vessels out of six vessels nominated by Armada in 2012 was turned down by the Tribunal. As per the order the precise quantum of the claim in regard to one vessel which Armada succeeded will be determined jointly by the expert of both parties. The determination of such quantum is pending.

1.4 In September 2011 the company and Coeclerici Asia (Pte) Ltd ("Coeclerici") entered into an agreement of sale and purchase of met coke as per which the company had to supply the cargo to Ceoclerici at a mutually agreed price by 31st March 2012. As per the terms of the agreement Coeclerici made an advance of USD 10 million to the company in Sept 2011. Owing to the sluggish market conditions, the parties could not arrive at a mutually agreed price, as such no cargo was supplied by 31.03.2012 and the entire advance of USD 10 million was required to be refunded by the company to Coeclerici. The company has already refunded USD 3.2 million till Sept''13 to Coeclerici.

The company does not dispute the repayment of the balance amount to Coeclerici and have been trying to make the balance payment. However, to secure its payment position, Coeclerici proceeded with the arbitration in London by filing its claim against the company. After all the arbitration proceedings, the Tribunal finally passed its order against the company for an amount equivalent to Rs. 46.2 Crores and interest thereupon.

Thereafter an application was filed by Coeclerici in Australia to enforce the English Award and the Australian Court made orders recognizing and enforcing the Award, including the appointment of receiver to the shares held by the company in Gujarat NRE Coking Coal Ltd. (GNCCL) and Gujarat NRE Ltd (GNL) and the shares held by Mr. Arun Kumar Jagatramka in GNCCL. The company thereafter filed an appeal against such order. However, the appeal was ultimately dismissed. Presently, receivers have control over the shares held by the company in GNCCL and GNL and Mr. Arun Kumar Jagatramka in GNCCL for the purpose of sale to recover the judgment debt.

1.5 The company had filed proceedings before the High Court, Calcutta against Gregarious Estates Incorporated ("Gregarious" or "Owners"), Gabriel Petridis (President / Director of Gregarious), Tapas Kumar Mukhopadhay (Director of Gregarious), Arun Dua (Director of Gregarious) and Bhatia International Pte. Limited in relation to the Time Charter Agreement dated January 29, 2008 entered into between GNCL and Gregarious whereby Gregarious agreed to give on hire and GNCL agreed to hire a vessel for a period of 82 to 86 months.

In view of the fact that there was a change in management of Gregarious without the consent of the company, it was contended that as per the terms of the agreement the company has the right to terminate the said Agreement. Further the Agreement never came into effect as per the terms of the agreement Gregarious had failed to provide the calculations for ascertaining super profits (as described therein) to the company. The company had filed a suit in Calcutta High Court for a decree of Rs. 56.25 Crores and prayed for declaration that the arbitration agreement between the company and Gregarious be rendered illegal, null and void.

During pendency of above proceedings, Gregarious initiated arbitration proceedings against the company and served a claim submission for an amount equivalent to Rs 212 Crores and interest thereupon.

The matter was never heard on merits at all and only the matter of jurisdiction of English Courts/ Arbitral Tribunal in London was decided by the Indian Courts. The matter after being discharged by the Indian Court was referred to Arbitration Tribunal. The Arbitration hearing was held in London in the month of January 2014 and the order is presently reserved by the Tribunal. The management is confident of the outcome of case in favour of the company.

1.6 On 8.1.14 Wollongong Coal Ltd. ("WCL") (Formerly Gujarat NRE Coking Coal Ltd.) issued a demand notice to the company and its other group companies claiming over AUD 63 million being amount claimed due to WCL by the company.

On 14.2.14 the company issued a counter demand for payment of USD 23.71 million being amount due by WCL and its subsidiary Wongawilli Coal Pty Ltd. (WCPL) to the company as on 31.1.14 on account of corporate guarantee commission for the corporate guarantees given by our company to the lender of WCL for the loans / facilities taken by WCL and on account quality claims. The said demand was refuted by WCL vide its letter dated 21.2.14. The management is taking necessary proactive steps in the matter and is confident of a favourable outcome.

ii Exchange difference Gain/ (Loss) of Rs. Nil (Previous Year Rs. (1.34) Crores) in respect of unexpired period of forward cover contracts will be recognised in the Statement of Profit & Loss in subsequent year.

2 Related Party Disclosures as required by Accounting Standard (AS-18) issued by the Institute of Chartered Accountants of India (ICAI), are given below:

A. Particulars of the Related Parties:

Subsidiary Companies

Wholly Owned i Gujarat NRE Limited (Ceases to be subsidiary of the Company during the year)

ii Huntervalley Coal (P) Ltd.

iii Manor Dealcom (P) Ltd.

Sub-Subsidiary Companies (All Sub-Subsidiaries ceases to be Sub-subsidiaries of the Company during the year)

i Gujarat NRE Coking Coal Ltd.

ii Gujarat NRE Wonga Pty. Ltd.

iii Wonga Coal Pty. Ltd.

iv Gujarat NRE Resources NL

v Gujarat NRE Coal (NSW) Pty. Ltd.

vi South Bulli Holdings Pty. Ltd.

vii Gujarat NRE Properties Pty. Ltd.

viii Gujarat NRE India Pty. Ltd.

Associates

i Bharat NRE Coke Ltd. (Ceases to be Associate of the Company during the year)

ii NRE Metcoke Ltd.

iii Surajbari Traders Pvt. Ltd.

iv Dharwad Traders Pvt. Ltd.

v Mandvi Traders Pvt. Ltd.

vi Lunva Traders Pvt. Ltd.

vii Critical Mass Multilink Ltd

viii Gujarat NRE Limited (Part of the year)

Enterprises in which key management personnel have significant Influence i Bajrangbali Coke Industries Ltd.

ii Bhachau Traders Pvt. Ltd.

iii Bharat NRE Coke Ltd.(Part of the Year)

iv Gujarat NRE Mineral Resources Ltd.

v Khambhalia Traders Pvt. Ltd.

vi Mahanidhi Vyapaar Pvt. Ltd.

vii Mangal Crystal Coke Pvt. Ltd. viii Russel Vale Traders Pvt. Ltd. ix Wonga Traders Pvt. Ltd.

Enterprise in which key management personnel is a trustee i Girdharilal Arun Kumar Family Trust

B. Key Management Personnel & Relatives thereof

i Mr. A. K. Jagatramka – Chairman & Managing Director

ii Mrs. Mona Jagatramka – Director

ii Mr. P. R. Kannan – Chief Financial Officer

* None of the directors of the company are interested in such banks.

3 The Shareholders of Gujarat NRE Coke Ltd.(GNCL) & Bharat NRE Coke Ltd.(BNCL) at their respective Shareholders meeting held on 28.01.13 approved and adopted the scheme of amalgamation of BNCL with GNCL. However in view of subsequent development of reference of GNCL TO CDR EG for its debt restructuring the said merger was not allowed by Hon''ble High Court of Calcutta.

4 a The indicators of impairment listed in paragraph 8 to 10 of Accounting Standard (AS)- 28 "Impairment of assets" issued by ICAI have been examined by the management and on such examination, it has been found that none of the indicators are present in the case of the Company''s assets . A formal estimate of the recoverable amount has not been made, as there is no indication of a potential impairment loss. b In the opinion of Board of Directors and to the best of their knowledge and belief, the value on realization of Current Assets,

Loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

5 Exceptional items for the year ended 31st March''2014 represents net foreign exchange loss of Rs.73.32 Crores , including Rs. 25.85 Crores included in Finance Cost,(Previous Year 60.11 Crores including Rs. 12.15 Crores included in Finance Cost) has been incurred due to unusual diminution in the value of Rupee as against the US Dollar during the year.

6 There are no amounts due and outstanding to be credited to Investors Education and Protection Fund as at 31st March 2014

7 Remittance in Foreign Currency on account of Dividend:

The Company has paid dividend in respect of shares held by Non-resident on repatriation basis. This inter-alia includes portfolio investment and direct investment, where the amount is also credited to Non-Resident External Account (NRE A/c). The exact amount of dividend remitted in foreign currency cannot be ascertained. The total amount remitted in this respect is given herein below:

Notes:

The Ministry of Corporate Affairs vide its circular no.2/2011 dated 8th February 2011 has granted a general exemption under section 212(8) of the Companies Act 1956, from attaching the Balance Sheet, Profit & Loss Account and other documents of the subsidiary companies to the balance sheet of any company upon compliance of certain conditions, the Balance Sheet, Profit & Loss Account and other documents of the subsidiaries are not attached to the Annual Reports & Accounts. The Annual Accounts of the Subsidiaries Companies are available for inspection by any investor at the Registered Office of the Company & the concerned subsidiary of the Company.


Mar 31, 2013

1.1 Greenearth Resources & Projects Limited (formerly known as Austral Coke & Projects Limited) had filed a defamation suit in Hon''ble Bombay High Court against the Company for Rs.600 Crores. The Company had also filed Civil Suit in Hon''ble Calcutta High Court against Austral Coke & Projects Limited, all its Directors, its merchant bankers and Auditors and others claiming for loss of damages worth Rs.4761 crores. Management is confident that outcome of the defamation suit filed by the Austral Coke & Projects Limited would be in favour of the company.

1.2 In the year 2007, the company and Armada Singapore Pte Ltd ("Armada") entered into five year charter party agreement which provided, inter alia, for Armada to provide vessels to ship the company''s tonnage, namely coal from various destinations worldwide. During the year 2009 Armada entered into Judicial Management, a Singaporean insolvency regime. As a result of Armada''s insolvency, the Company did not make further nominations since there was no assurance or security for Armada''s performance for the balance period under the agreement.

In the year 2010 Armada filed its claim submission in an arbitration proceeding against the company in London for the year 2009 and 2010 and after all the repetitive challenges by the company w.r.t the defect in constitution of the Tribunal, the Tribunal passed an order in favour of Armada assessing the liability of the company as equivalent to Rs. 46 cr (including interest of Rs. 3.7 cr). Aggrieved by the aforesaid order the company has filed a civil suit against Armada with the Hon''ble High Court at Calcutta claiming for damages for an amount of Rs 144 crores and cancellation of the aforesaid order being void and restraining Armada from giving any effect to the order passed by the Tribunal. An order was passed by the Hon''ble High Court at Calcutta restraining Armada to take any further steps to enforce the award passed by the Tribunal in India. The matter is presently sub judice before the Hon''ble High Court at Calcutta.

Meanwhile Armada executed an enforcement proceeding before the Federal Court of Australia, New South Wales which passed a freezing order of the assets held by the company in Australia. The company had challenged such enforcement proceedings before the same court and the final judgment is reserved by the court and is pending till date. Armada later on filed its claim submission against the company for the non-performance of contract for the year 2011 before the same arbitral tribunal in London which passed a further order in favour of Armada assessing the liability of the company as equivalent to Rs.25.4 cr (including interest of Rs. 1.2 cr). An appeal was filed by the company against said order before High Court of Justice, Queen''s Bench Division, Commercial Court in England which is pending before the said court.

During the year 2012, the company sought performance under the agreement from Armada, who failed to perform as per the terms of the agreement, which event was taken as repudiation of the agreement and the agreement was terminated. On the contrary, Armada filed another claim in March 2013 for non-performance for the year 2012 for an amount equivalent to Rs. 27 cr and interest thereupon.

The company has filed a counter claim for an amount equivalent to Rs 60 cr and strongly opposed the claim of Armada before a newly constituted Arbitral Tribunal. The matter is presently subjudice before the said Arbitral Tribunal and the management is confident of the outcome of case in favour of the company.

1.3 In September 2011 the company and Coeclerici Asia (Pte) Ltd ("Coeclerici") entered into an agreement of sale and purchase of met coke as per which the company had to supply the cargo to Ceoclerici at a mutually agreed price by 31st March 2012. As per the terms of the agreement Coeclerici made an advance of USD 10 million to the company in Sept 2011. Owing to the sluggish market conditions, the parties could not arrive at a mutually agreed price, as such no cargo was supplied by 31.03.2012 and the entire advance of USD 10 million was required to be refunded by the company to Coeclerici.The company has already refunded USD 2 million till Sept''12 to Coeclerici and for the balance refund of USD 8 million, the company is awaiting the approval from Reserve Bank of India ("RBI").

The company does not dispute the repayment of the balance amount to Coeclerici but has been unable to make any further payment until RBI approval. However, to secure its payment position, Coeclerici proceeded with the arbitration in London by filing its claim against the company. After all the arbitration proceedings, the Tribunal finally passed its order against the company for an amount equivalent to Rs. 46.2 cr and interest thereupon. The Amount of advance received is already accounted for under Advance received from Customers.

1.4 The company had filed proceedings before the High Court, Calcutta against Gregarious Estates Incorporated ("Gregarious" or "Owners"), Gabriel Petridis (President / Director of Gregarious), Tapas Kumar Mukhopadhay (Director of Gregarious), Arun Dua (Director of Gregarious) and Bhatia International Pte. Limited in relation to the Time Charter Agreement dated January 29, 2008 entered into between GNCL and Gregarious whereby Gregarious agreed to give on hire and GNCL agreed to hire a vessel for a period of 82 to 86 months.

In view of the fact that there was a change in management of Gregarious without the consent of the company, it was contended that as per the terms of the agreement the company has the right to terminate the said Agreement. Further the Agreement never came into effect as per the terms of the agreement Gregarious had failed to provide the calculations for ascertaining super profits (as described therein) to the company. The company had filed a suit in Calcutta High Court for a decree of Rs. 56.25 cr and prayed for declaration that the arbitration agreement between the company and Gregarious be rendered illegal, null and void.

During pendency of above proceedings, Gregarious initiated arbitration proceedings against the company and served a claim submission for an amount equivalent to Rs 212 cr and interest thereupon.

The matter was never heard on merits at all and only the matter of jurisdiction of English Courts/ Arbitral Tribunal in London was decided by the Indian Courts.

The matter is now pending before the Arbitral Tribunal in London to be heard on merits and the management is confident of the outcome of case in favour of the company.

2 [32] Related Party Disclosures as required by Accounting Standard (AS-18) issued by the Institute of Chartered Accountants of India (ICAI), are given below:

A. Particulars of the Related Parties:

Subsidiary Companies Wholly Owned

i Gujarat NRE Limited

ii Hunter Valley Coal (P) Ltd.

iii Manor Dealcom (P) Ltd.

Sub-Subsidiary Companies

i Gujarat NRE Coking Coal Ltd.

ii Gujarat NRE Wonga Pty. Ltd. (formerly Gujarat NRE FCGL Pty. Ltd.)

iii Wonga Coal Pty. Ltd.

iv Gujarat NRE Resources NL

v Gujarat NRE Coal (NSW) Pty. Ltd.

vi South Bulli Holdings Pty. Ltd.

vii Gujarat NRE Properties Pty. Ltd.

viii Gujarat NRE India Pty. Ltd.

Associates

i Bharat NRE Coke Ltd.

ii NRE Metcoke Ltd.

iii Surajbari Traders Pvt. Ltd.

iv Dharwad Traders Pvt. Ltd.

v Mandvi Traders Pvt. Ltd.

vi Lunva Traders Pvt. Ltd.

Enterprises in which key management personnel have significant Influence

i Gujarat NRE Mineral Resources Ltd.

ii Gujarat NRE Energy Resources Ltd.

iii Russell Vale Traders Pvt. Ltd.

iv Bulli Coke Ltd.

v Bajrang Bali Coke Industries Ltd.

vi Mangal Crystal Coke Pvt. Ltd.

Enterprise in which key management person is a trustee

i Girdharilal Arun Kumar Family Trust

B. Key Management Personnel

i Mr. A. K. Jagatramka – Chairman & Managing Director

ii Mr. P. R. Kannan – Chief Financial Officer

4 [34] A Scheme of arrangements under section 391 to 394 of the Companies Act''1956 for amalgamation of Bharat NRE Coke Ltd., an associate of the Company, has been approved by the shareholders of the company on 28.01.2013 and the matter is pending for disposal by the Hon''ble Calcutta High Court. This Financial Statement does not carry the effect of the said amalgamation.

5 [36] Exceptional items for the year ended 31st March''2013 represents net foreign exchange loss of Rs. 60.11 Crores ,including Rs.12.15 Crores included in Finance Cost, (Previous Year Rs. 74.40 Crores including Rs.14.24 Crores included in Finance Cost) has been incurred due to unusual diminution in the value of Rupees as against US Dollar during the year.

6 [39] Previous year''s figure have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2011

1. All amounts in the financial statements are presented in Rupees Crores, unless otherwise stated. The note numbers appeared in the "[ ]" are as they appear in the complete set of Financial Statements. These abridged financial statements have been prepared in accordance with the requirements of Rule 7A of the Companies (Central Government's) General Rules & Forms, 1956 and clause 32 of the Listing Agreement. These abridged financial statements have been prepared on the basis of the complete set of financial statements for the year ended March 31, 2011.

2. [B2]Contingent liabilities not provided for in respect of:

a. Letter of Credits outstanding for purchase of materials aggregating to Rs. 50.92 crores (Previous Year- Rs. 162.75 crores).

b. Outstanding Bank Guarantees and Counter / Corporate Guarantees given on behalf of subsidiary/associates companies aggregating to Rs. 1550.55 crores (Previous Year - Rs. 886.06 crores).

c. Capital commitments - Rs. 137.17 crores (Previous Year - Rs. 164.64 crores).

d. Bills discounted with banks aggregating to Rs. 32.41 crores (Previous Year - Rs. 40.62 crores).

e. Duty on account of Advance Authorisation against Export Obligation is Rs. 1.03 crores. (Previous Year - Rs. 1.61 crores).

f. Disputed amount involved in three income-tax demands under appeal - Rs. 4.42 crores (Previous Year - Rs. 4.09 crores). The management is of view that the outcome of the appeal would be favourable to the company, hence no provision has been made against these income-tax demands.

g. A demand raised by the Service tax department of Rs. 0.06 crores (Previous Year Rs. 0.06 crores), against which company has filed an appeal to the jurisdiction authorities.

3. [B6]Greenearth Resources & Projects Limited (formerly known as Austral Coke & Projects Limited) had filed a defamation suit in Hon'ble Bombay High Court against the Company for Rs.600 Crores. The Company had also filed Civil Suit in Hon'ble Calcutta High Court against Greenearth Resources & Projects Limited, all its Directors, its merchant bankers and Auditors and others claiming for loss of damages worth Rs.4761 crores. Management is confident that outcome of the defamation suit filed by the Greenearth Resources & Projects Limited would be in favour of the company.

4. [B12]The company uses forward contracts to hedge its risks associated with foreign currencies relating to foreign currency liabilities. The company does not use forward contracts for speculative purpose.

5. [B13]Exchange difference Gain/ (Loss) of Rs. (0.03) Crores (Previous Year Rs. 0.58 Crores) in respect of unexpired period of forward cover contracts will be recognised in the Profit & Loss accounts in subsequent year.

6. [B14]Foreign Currency Convertible Bonds (FCCB)

The Company issued 600, Zero Coupon Unsecured Foreign Currency Convertible Bonds (FCCB) of US$ 100,000 each aggregating US$ 60 Million at par on 11th April, 2006. These bonds are convertible into equity shares of the Company at the option of bondholders at a price of Rs. 44.64 per share, If not converted then they are redeemable on 12th April, 2011 at 139.36% of the face value.

As on 31.03.2011, 426 Bonds has been converted into 3,18,98,284 equity shares leaving balance of 174 bond as on 31.03.2011. Subsequently, these bonds have also been converted and consequently 1,74,07,793 Equity Shares & 17,40,778 "B" Equity Shares have been allotted on 8th April 2011. With these conversions, all the FCCB's have been fully converted.

7. [B16]Secured Non-Convertible Debentures:

- 11.90% Secured Redeemable Non Convertible Debentures of Rs. 100.00 Crores (Previous Year Rs. 100.00 Crores) are redeemable at par in 4 equal annual installments commencing from 07th February 2012.

- 11.00% Secured Redeemable Non Convertible Debentures of Rs. 250.00 Crores (Previous Year Nil) are redeemable at par in 8 equal half yearly installments commencing from 29th April 2013.

- 12.50% Secured Redeemable Non Convertible Debentures of

- Rs. 10.00 Crores (Previous Year 10.00 Crores) are redeemable at par in 4 equal annual installments commencing from 30th May 2012,

- Rs. 10.00 Crores (Previous Year 10.00 Crores) are redeemable at par on 30th May 2012,

- Rs. 10.00 Crores (Previous Year 10.00 Crores) are redeemable at par on 30th May 2013,

- Rs. 10.00 Crores (Previous Year 10.00 Crores) are redeemable at par on 30th May 2014,

- Rs. 10.00 Crores (Previous Year 10.00 Crores) are redeemable at par on 30th May 2015

8. [B19]For the Convenience of operations, Bajrang Bali Coke Industries Ltd has appointed the Company as 'Operator' to operate and manage their plants at Bhachau Gujarat w.e.f. 1st April 2010 as per terms of an agreement dated 1st April 2010. Pursuant to the said agreement and supplementary agreement dated 28th March, 2011 the Company has given an interest free Security Deposit of Rs. 30 Crores to Bajrang Bali Coke Industries Ltd. Consequently, additionals capacity of 90,000 MT per annum of Metallurgical Coke has been available to the company.

9. [B24] Previous Year figures have been regrouped / rearranged wherever considered necessary.









 
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