Home  »  Company  »  T Nadu Newsprint  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Tamil Nadu Newsprint And Papers Ltd.

Mar 31, 2015

Note 1

CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

Particulars As at As at 31/3/2015 31/3/2014

A) CONTINGENT LIABILITIES

a) Claims against the company not acknowledged as debts - Statutory Dues

i) Income-tax 9825.28 6885.27

ii) Wealth Tax 19.46 19.46

iii) Custom Duty 355.32 271.21

iv) Excise Duty 35067.36 32769.15

v) CST/VAT 690.97 0

b) Claims against the company not acknowledged as debts - Others

i) Corporate Office - Land 22.80 22.80

ii) Land Acquisition Claims 137.65 136.12

iii) Cess on Land Lease at Perungudi - Wind farm 92.74 92.74

iv) Interest on Water Royalty paid belatedly 82.48 82.48

v) Lease - Wind Mill 8.12 8.12

vi) Interest - ABFSL 138.24 138.24

vii) Interest on Generation Tax 1429.63 1429.63

viii) Others 660.73 257.26

c) Concession in customs duty availed for imports cleared under EPCG Scheme 13286.10 1550.16

d) Revenue sharing agreement under captive plantation Non-Quantifiable

e) Guarantees issued by the banks on behalf of the Company 3463.51 2633.06

f) Letter of Credit issued by banks on behalf of the Company

Unit - 1 - Paper 7772.40 10142.26

Unit - 2 - Multilayer Coated Board Plant 28081.95 35012.04

Sub-Total (A) 101134.74 91450.00

B) COMMITMENTS

a) Estimated amount of contracts remaining to be executed on capital account and not provided for

Regular Capital Project 862.13 1060.12

Unit - 2 - Multilayer Coated Board Plant 56674.86 71253.43

Sub-Total (B) 57536.99 72313.55

Total (A) (B) 158671.73 163763.55

Note 2

OTHER CURRENT LIABILITIES:

Other payables includes:

a) Rs.2410.35 lakh being the guarantee commission in respect of IBRD Loan guaranteed by Govt. of India lying since 2002

b) Rs.3124.24 lakh being Electricity Generation Tax for the generation of energy from captive generation plant for own use.

h) Confirmation of balances from Debtors, Creditors and for Loans and Advances have been received and the same is being reconciled

i) Farm Forestry Expenditure is charged-off to the Statement of Profit and Loss, in the year in which it is incurred, since it could not be matched with wood procured from farmers.

j) Non Moving Stores & Spares

Stores and spares not drawn for use for more than three years as at the end of the year are charged to revenue. Such stores and spares are carried at nil value in the books and in the year of issue, charged to revenue at nil value.

Note 3

Accounting Standard Disclosures: i) Employee Benefit (AS-15)

a) The fair value of the asset of the provident fund trust including the return on the assets thereof, as on the balance sheet date is greater than the obligations under the defined contribution plan, as determined by the actuary and requires no further charge to Statement profit and loss.

b) Other Defined Benefits

Note 4

IMPAIRMENT OF ASSETS (AS 28):

The "recoverable amount" is higher than the "carrying amount" of the cash generating units and hence there is no impairment of losses under AS - 28.

Note 5

GENERAL

a) Figures for the previous year have been regrouped/restated/reclassified wherever necessary to conform to current year's classification.

b) Amounts have been rounded off to the nearest two decimal points of lakh of rupees.


Mar 31, 2014

COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 619(4) OF THE COMPANIES ACT, 1956 ON THE ACCOUNTS OF TAMIL NADU NEWSPRINT AND PAPERS LIMITED FOR THE PERIOD ENDED 31st MARCH 2014.

The preparation of financial statements of Tamil Nadu Newsprint and Papers Limited for the year ended 31 March 2014 in accordance with the financial reporting framework prescribed under the Companies Act, 1956 is the responsibility of the management of the Company. The Statutory Auditors appointed by the Comptroller and Auditor General of India under Section 619(2) of the Companies Act, 1956 are responsible for expressing opinion on these financial statements under section 227 of the Companies Act, 1956 based on Independent audit in accordance with the auditing and assurance standards prescribed by their professional body, the Institute of Chartered Accountants of India. This is stated to have been done by them vide their Audit Report dated 29-05-2014.

I, on the behalf of the Comptroller and Auditor General of India have conducted a supplementary audit under section 619(3)(b) of the Companies Act, 1956 of the financial statements of Tamil Nadu Newsprint and Papers Limited for the year ended 31 March 2014. This supplementary audit has been carried out independently without access to the working papers of the statutory auditors and is limited primarily to inquires of the statutory auditors and company personnel and a selective examination of some of the accounting records. On the basis of my audit nothing significant has come to my knowledge which would give rise to any comment upon or supplement to Statutory Auditors'' Report under section 619(4) of the Companies Act, 1956.

(Rs.in Lakh)

Note As at As at No. Particulars 31/03/2014 31/03/2013

1) CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

A) CONTINGENT LIABILITIES

a) Claims against the company not acknowledged as debts - Statutory Dues

i) Income-tax 6885.27 4865.88

ii) Wealth Tax 19.46 19.46

iii) Custom Duty 271.21 271.21

iv) Excise Duty 32769.15 29716.39

b) Claims against the company not acknowledged as debts - Others

i) Corporate Office - Land 22.80 22.80

ii) Land Acquisition Claims 136.12 134.60

iii) Cess on Land Lease at Perungudi - Wind farm 92.74 92.74

iv) Interest on Water Royalty paid belatedly 82.48 82.48

v) Lease - Wind Mill 8.12 8.12

vi) Interest - ABFSL 138.24 138.24

vii) Property Tax 0.00 288.39

viii) Generation tax & interest on Generation Tax 1429.63 2373.14

ix) Others 257.26 96.37

c) Concession in custom duty availed for imports cleared under EPCG Scheme 1550.16 2816.79

d) Solar Purchase Obligation 0.00 990.00

e) Revenue sharing agreement under captive plantation Non-Quantifiable

f) Guarantees issued by the banks on behalf of the Company 2633.06 4263.69

g) Letter of Credit issued by banks on behalf of the Company Unit - 1 - Paper 10142.26 6984.87

Unit - 2 - Multilayer Coated Board Plant 35012.04 0.00

Sub-Total (A) 91450.00 53165.17

B) COMMITMENTS

a) Estimated amount of contracts remaining to be executed on capital account and not provided for

Regular Capital Project 1060.12 3551.36

Unit - 2 - Multilayer Coated Board Plant 71253.43 0.00

Sub-Total (B) 72313.55 3551.36

Total (A) (B) 163763.55 56716.53

g) OTHER CURRENT LIABILITIES: Other payables includes:

a) Rs.2410.35 lakh being the guarantee commission in respect of IBRD Loan guaranteed by Govt. of India lying since 2002

b) Rs.2590.46 lakh being Electricity Generation Tax for the generation of energy from captive generation plant for own use.

h) Confirmation of balances from Debtors, Creditors and for Loans and Advances have been received and the same is being reconciled

i) Farm Forestry Expenditure is charged-off to the Statement of Profit and Loss, in the year in which it is incurred, since it could not be matched with wood procured from farmers.

j) Non Moving Stores & Spares

Stores and spares not drawn for use for more than three years as at the end of the year are charged to revenue. Such stores and spares are carried at nil value in the books and in the year of issue, charged to revenue at nil value.


Mar 31, 2013

AS -1 Related Party Transactions

Remuneration to Key Managerial Personnel, other than Independent Non-executive Directors, is disclosed as ''Related Party Transactions'' in the Notes to Accounts.

AS-2 Leases

Rentals are expensed with reference to lease terms and other considerations. AS - 20 Earnings per Share

a) Basic Earnings per share is computed with reference to the Weighted Average number of Shares, based on monthly rests.

b) Diluted Earnings per share is computed based on fully paid-up value of the Shares issued, as if Calls-in-Arrears has been received.

AS - 3 Accounting for Taxes on Income

Income-tax expense is accounted in accordance with AS 22 - "Accounting for taxes on Income" which includes current taxes and deferred taxes. Deferred taxes reflect the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available.

AS - 4 Intangible Assets

General:

a) Intangible assets are stated at cost less accumulated amortisation.

b) Computer software being intangible asset is amortised over a period of four years. Research and Development:

a) Expenditure relating to capital items are treated as fixed assets and depreciated at applicable rates.

b) Expenditure on Research is recognised as an expense under respective natural heads, as and when incurred.

AS - 5 Impairment of Assets

The Company determines the Impairment of Assets based on Cash Generating Units. For this purpose, the Cash Generating Units have been based on segments of operations, viz., ''Paper & Pulp'' and ''Energy''. The impairment loss will be provided if the carrying amount exceeds recoverable amount.

AS - 6 Provisions, Contingent Liabilities and Contingent Assets

a) A present obligation, which could be reliably estimated, is provided for in the accounts, if it is probable that an outflow of resources embodying economic benefits will be required for its settlement.

b) Contingent Liabilities are disclosed by way of notes in the Balance Sheet.

c) Contingent Assets are neither recognised nor disclosed.

AS -7 Accounting of Derivative Financial Instruments

The Company uses foreign currency forward contracts to hedge its risks associated with foreign currency fluctuations relating to certain firm commitments and forecast transactions. The Company designates these hedging instruments as cash flow hedges applying the recognition and measurement principles set out in the Accounting Standard 30 "Financial Instruments : Recognition and measurement" (AS - 30).

Hedging instruments are initially measured at fair value, and are remeasured at subsequent reporting dates. Changes in the fair value of these derivatives that are designated and effective as hedges of future cash flows are recognized directly in hedge reserve account and the ineffective portion is recognized immediately in Statement of profit and loss.

Changes in the fair value of derivative financial instruments that do not qualify for hedge accounting are recognized in Statement of profit and loss as they arise.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in hedge reserve account is transferred to Statement of profit and loss.

The gain / loss on the hedging instrument in respect of a forecasted transaction / firm commitment in respect of a non financial asset / liability is recognized in the hedge reserve account. Upon the forecast transaction / firm commitment subsequently resulting in the recognition of a non financial asset / liability, the associated gain / loss recognized in the hedge reserve account is transferred to the initial cost / carrying cost of the non financial asset / liability.

Premium on forward exchange contracts designated as hedging instruments is amortized as expense/income or adjustment to initial carrying cost of the hedged item over the life of the contract.

iv) IMPAIRMENT OF ASSETS (AS 28):

The "recoverable amount" is higher than the "carrying amount" of the cash generating units and hence there is no impairment of losses under AS - 28.

Ill) GENERAL

a) Figures for the previous year have been regrouped/restated/reclassified wherever necessary to conform to current year''s classification.

b) Amounts have been rounded off to the nearest two decimal points of lakh of rupees.


Mar 31, 2012

Notes: 1. Cash Flow statement has been prepared following Indirect method

2. Figures of previous year has been regrouped/restated/reclassified wherever necessary

a)The Government of Tamil Nadu allotted land to TNPL for construction of Corporate Office building for Rs.44.37 lakh. The transfer of title of the said Land in favour of the company is yet to be done pending completion of necessary formalities.

b) The Company availed of lease finance for 4 Nos of 750KW capacity each Wind Electric Generators in 2001 with lease rentals payable upto 31.03.2007. The Company has not opted for a secondary lease and hence no provision is made for secondary lease rent in the books. The formal transfer of assets by the lessor to TNPL is pending completion of certain formalities.

c) The company has entered into an agreement with M/s. Sakthi Sugars Limited (SSL), Appakudal for procurement of bagasse on a fuel substitution. As per the terms of the agreement, TNPL would bear initially entire capital cost. The sugar mill has to reimburse the 50% of the capital cost and pay the same in 35 quarterly installments bearing interest @ 9%. On completion of the payment, TNPL and the sugar mill will have joint ownership and equal rights on the assets installed at Appakudal.

d) Additions to assets includes a sum of Rs.8448.87 lakhs towards adjustment of effects of changes in Foreign Exchange rates relating to Foreign Currency Long-term loans availed of for acquisition of depreciable fixed assets.

# Includes Rs.143.51 lakhs towards adjustment of effects of changes in Foreign Exchange Rates relating to Foreign Currency Long-Term loans availed of for acquisition of depreciable fixed assets.

* Excluding cost of Bagasse procured in lieu of steam/fuel supplied.

(Rs.in Lakh)

Note I As at As at Particulars 31/03/2012 31/03/2011

1 CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

A) CONTINGENT LIABILITIES

a) Claims against the company not acknowledged as debts - Statutory Dues

i) Income-tax 2808.57 865.32

ii) Wealth Tax 19.46 19.46

iii) Custom Duty 271.21 271.21

iv) Excise Duty 27747.48 10600.95

b) Claims against the company not acknowledged as debts - Others

i) Corporate Office - Land 22.80 22.80

ii) Land Acquisition Claims 134.67 131.54

iii) Cess on Land Lease at Perungudi - Wind farm 37.94 37.94

iv) Interest on Water Royalty paid belatedly 82.48 82.48

v) Lease - Wind Mill 8.12 8.12

vi) Interest - ABFSL 138.24 138.24

vii) Property Tax 305.86 0.00

viii) Others 160.23 23.33

c) Concession in custom duty availed for imports cleared under EPCG Scheme 2187.07 4373.39

d) Revenue sharing agreement under captive plantation Non-Quantifiable

e) Guarantees issued by the banks on behalf of the Company 1520.00 1834.85

f) Letter of Credit issued by banks on behalf of the Company 9307.67 3926.26

44751.80 22335.89

B) COMMITMENTS

a) Estimated amount of contracts remaining to be executed on capital account and not provided for 2863.46 17759.52

2863.46 17759.52

Total 47615.26 40095.41

f) OTHER CURRENT LIABILITIES:

Other payables includes:

a) Rs.2410.35 lakh being the guarantee commission in respect of IBRD Loan guaranteed by Govt. of India lying since 2002

b) Rs.2119.69 lakh being Electricity Generation Tax for the generation of energy from captive generation plant for own use.

g) Confirmation of balances from Debtors, Creditors and for Loans and Advances have been received and the same is being reconciled

h) Farm Forestry Expenditure is charged-off to the Statement of Profit and Loss, in the year in which it is incurred, since it could not be matched with wood procured from farmers.

i) "Non Moving Stores & Spares

Stores and spares not drawn for use for more than three years as at the end of the year are charged to revenue. Such stores and spares are carried at nil value in the books and in the year of issue, charged to revenue at nil value.

j) i) Pursuant to insertion of paragraph 46A in Accounting Standard - 11 (AS-11) by the Companies (Accounting Standard) (Second Amendment) Rules, 2011 vide Notification GSR 913(E) & Notification No.GSR 914(E) dated 29-12-2011, issued by the Ministry of Corporate Affairs, Government of India, the Company has exercised the option of capitalizing the exchange losses on Long Term Foreign Currency Loans in relation to depreciable fixed assets with effect from 01-04-2011 and capitalized Rs.8592.38 lakh.

ii) If the company had followed the earlier accounting policy of charging such exchange losses to Statement of Profit and Loss, the profit before tax would have been lower by Rs.9560.81 lakh and the depreciation would have been lower by Rs.427.74 lakh.

iii) During the year, the Company had unwound the derivative contracts booked for hedging of Long-term Foreign Currency Loans. The net gain recognized in the Statement of Profit and Loss on account of unwinding of derivative contracts amounts to Rs.9988.55 lakh. This amount is disclosed as "Exceptional Item".


Mar 31, 2011

I. BALANCE SHEET:

A. FIXED ASSETS & CAPITAL WORK-IN-PROGRESS:

a) The Government of Tamil Nadu allotted land to TNPL for construction of Corporate Office building for Rs.44.37 lakh. The transfer of title of the said Land in favour of the company is yet to be done pending completion of necessary formalities.

b) The Company availed of lease finance for 4 Nos of 750KW capacity each Wind Electric Generators in 2001 with lease rentals payable upto 31.03.2007. The Company has not opted for a secondary lease and hence no provision is made for secondary lease rent in the books. The formal transfer of assets by the lessor to TNPL is pending completion of certain formalities.

d) Estimated amount of contracts remaining to be executed on Capital Account and not provided for is Rs. 17759.52 Lakh (Previous year Rs.11187.51 lakh).

e) The company has entered into an agreement with M/s. Sakthi Sugars Limited (SSL), Appakudal for procurement of bagasse on a fuel substitution. As per the terms of the agreement, TNPL would bear initially entire capital cost. The sugar mill has to reimburse the 50% of the capital cost and pay the same in 35 quarterly instalments bearing interest @ 9%. On completion of the payment, TNPL and the sugar mill will have joint ownership and equal rights on the assets installed at Appakudal.

B. CAPTIVE PLANTATIONS/FARM FORESTRY

a) The Company has taken over 244.28 hectares of waste land for captive plantation from the Government of Tamilnadu valid for a period ranging from 22 years to 30 years and 582.440 hectares from Private Land Owners for a period of six years through lease agreement and 1685.41 hectares under revenue sharing basis

d) Farm Forestry Expenditure

Farm Forestry Expenditure is charged-off to the Profit and Loss Account, in the year in which it is incurred, since it could not be matched with wood procured from farmers.

C. DEBTORS, CREDITORS AND LOANS & ADVANCES:

a) Confirmation of balances from Debtors, Creditors and for Loans and Advances, have been received and the same is being reconciled.

b) Based on confirmation received from the suppliers regarding status under the Micro, Small and Medium Enterprises Development Act, 2006 (the act)

a) Amount due and outstanding to suppliers as at the end of accounting year Rs.131.69 lakh

b) Interest paid during the year Nil

c) Interest payable at the end of the accounting year, and Nil

d) Interest accrued and unpaid at the end of the accounting year Nil

D. CURRENT LIABILITIES AND PROVISIONS:

Current Liabilities:

Other Liabilities: This includes Rs.24.10 Crore being the guarantee commission in respect of IBRD loan guaranteed by Govt, of India, lying since 2002.

Work-in-Process

Paper in process is valued at cost which includes cost of inputs,net of taxes and duties eligible for credit and overheads upto the stage of completion.

A. AS 15-Employee Benefit

a) The fair value of the asset of the provident fund trust including the return on the assets thereof, as on the balance sheet date is greater than the obligations under the defined contribution plan, as determined by the actuary and requires no further charge to profit and loss account.

G. IMPAIRMENT OF ASSETS (AS 28):

The "recoverable amount" is higher than the "carrying amount" of the cash generating units and hence there is no impairment of losses under AS - 28.

H. CONTINGENT LIABILITIES (AS 29):

(Rs. In Lakh)

Estimated Amount

SI. Description of the As at As at Indication of Possible No Contingent Liability 31.03.2011 31.03.2010 Uncertainty Recovery if liability arises

a) Letters of Credit issued by Banks on 3926.26 7125.72 Performance or behalf of Company Non-performance Nil of various parties.

b) Guarantees issued by the Banks on 1834.85 2648.92 -do- Nil behalf of the Company

c) Claims against the Company not All are disputed acknowledged as debts relating to before concerned Statutory Dues: - appellate

a) Income Tax 865.32 4267.44 authorities. The

b) Wealth-tax 19.46 19.46 company is Nil

c) Customs Duty 271.21 271.21 advised that the

d) Excise Duty 10600.95 9721.88 cases are likely to be disposed off in favour of the company.

d) Claims against the Company not acknowledged as debts - Others: -

i) Corporate Office Land - Penal Interest 22.80 22.80 All are disputed

ii) Land Acquisition Claims 131.54 130.00 before concerned

iii) Cess on Land Lease at Perungudi - Wind farm. 37.94 37.94 appellate

iv) Interest on Water Royalty Paid belatedly 82.48 82.48 authorities. The

v) Others 161.57 23.33 company is advised Nil that the cases are likely to be disposed off in favour of the company.

e) Concession in Customs Duty availed 4373.39 9855.60 Possibilities of for imports cleared under Export not meeting Promotion on Capital Goods Scheme minimum Nil export quantity requirements by the Company.

f) Revenue sharing agreement under captive plantation NQ NQ Yield and price payable not NIL quantifiable.

g) Lease 8.12 8.12 NIL

V. GENERAL:

a) Figures for the previous year have been regrouped/restated/reclassified wherever necessary to conform to current year's classification.

b) Amounts have been rounded off to the nearest two decimal points of lakh of rupees.


Mar 31, 2010

A. FIXED ASSETS & CAPITAL WORK-IN-PROGRESS:

a) The Government of Tamil Nadu allotted land to TNPL for construction of Corporate Office building for Rs.44.37 lakh. The transfer of title of the said Land in favour of the company is yet to be done pending completion of necessary formalities.

b) The Company availed of lease finance for 4 Nos of 750KW capacity each Wind Electric Generators in 2001 with lease rentals payable upto 31.03.2007. The Company has not opted for a secondary lease and hence no provision is made for secondary lease rent in the books. The formal transfer of assets by the lessor to TNPL is pending completion of certain formalities.

B. CAPTIVE PLANTATIONS/ FARM FORESTRY

a) The Company has taken over 325.610 hectares of waste land for captive plantation from the Government of Tamilnadu valid for a period ranging from 22 years to 30 years and 437.858 hectares from Private Land Owners for a period of six years through lease agreements.

d) Farm Forestry Expenditure

Farm Forestry Expenditure is charged-off to the Profit and Loss Account, in the year in which it is incurred, since it could not be matched with wood procured from farmers.

C. DEBTORS, CREDITORS AND LOANS & ADVANCES:

a) Confirmation of balances from Debtors, Creditors and for Loans and Advances, received have been reconciled and suitably adjusted wherever necessary.

b) Based on confirmation received from the suppliers regarding status under the Micro, Small and Medium Enterprises Development Act, 2006 (the act)

a) Amount due and outstanding to suppliers as at the end of accounting year Rs.419.37 lakh

b) Interest paid during the year Nil

c) Interest payable at the end of the accounting year, and Nil

d) Interest accrued and unpaid at the end of the accounting year Nil

D. CURRENT LIABILITIES AND PROVISIONS:

Current Liabilities

Other Liabilities: This includes Rs.24.10 Crore being the guarantee commission in respect of IBRD loan guaranteed by Govt, of India, lying since 2002.

Work-in-Process

Paper in process is valued at cost which includes cost of inputs, net of taxes and duties eligible for credit and overheads upto the stage of completion, where as in the previous year, the same has been valued at variable cost. Had there been no change in the method of valuation, the stock-in-process for the year would have been lower by Rs. 100.37 lakh

ADMT = Air Dry Metric Tonne

@ Bagasse is procured both from open market and under barter arrangement with various sugar mills by exchange of fuel/coal. The value of bagasse represents the cost of procurement of bagasse from open market and cost of production of steam/fuel supplied to Sugar Mills in exchange for bagasse, freight, handling charges etc., which are included in the respective heads of account and is accounted for on depithed basis.

Bagasse consumption value and stock is valued at weighted average cost, net of taxes and duties eligible for credit. Where as in the previous year, bagasse was valued on FIFO basis. Had there been no change in the method of valuation, the stock of bagasse for the year would have been higher by Rs. 9.71 lakh.

III. ACCOUNTING STANDARD DISCLOSURES (COVERING SCHEDULE VI REQUIREMENTS ALSO):

A. AS 15 - Employee Benefit

a) The fair value of the asset of the provident fund trust including the return on the assets thereof, as on the balance sheet date is greater than the obligations under the defined contribution plan, as determined by the actuary and requires no further charge to profit and loss account.

G. IMPAIRMENT OF ASSETS (AS 28):

The "recoverable amount" is higher than the "carrying amount" of the cash generating units and hence there is no impairment of losses under AS - 28.

H. CONTINGENT LIABILITIES (AS 29):

(Rs. in lakh)

SI. Description of the Estimated Amount Indication of Possible No. Contingent Liability As at As at Uncertainty Recovery, if 31.03.2010 31.03.2009 liability a rises

a) Letters of Credit issued by Banks Performance or on behalf of Company 7125.72 39407.26 Non-performance of Nil various parties.

b) Guarantees issued by the Banks on behalf of the Company 2648.92 1932.40 -do- Nil

c) Claims against the Company not All are disputed before acknowledged as debts relating concerned appellate to Statutory Dues: - authorities. The ` company

i) Income Tax 4267.44 2745.19 is advised that the cases

ii) Wealth-tax 19.46 19.46 are likely to be disposed

iii) Customs Duty 271.21 271.21 off in favour of the company. Nil

iv) Excise Duty 9721.88 13249.66

d) Claims against the Company not acknowledged as debts - Others: -

i) Corporate Office Land - All are disputed before Penal Interest 22.80 22.80 concerned appellate

ii)Land Acquisition Claims 130.00 90.86 authorities. The company

iii)Cess on Land Lease is advised that the cases at Perungudi - Wind farm. 37.94 127.37 are likely to be disposed

iv)Interest on Water Royalty off in favour of the company. Nil Paid belatedly 82.48 82.48

v) Others 23.33 37.04

e) Concession in Customs Duty Possibilities of not meeting availed for imports cleared under minimum export quantity Export Promotion on Capital requirements by the Goods Scheme 9855.60 9132.43 Company. Nil

f) Revenue sharing agreement Yield and price payable not under captive plantation NQ NQ quantifiable. Nil

g) Lease 8.12 8.12 Nil



XIV. GENERAL:

a) Figures for the previous year have been regrouped/restated/reclassified wherever necessary to conform to current years classification.

b) Amounts have been rounded off to the nearest two decimal points of lakh of rupees.

 
Subscribe now to get personal finance updates in your inbox!