Annual Report 2005-2006 - Gammon India

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GAMMON INDIA LIMITED To The members of GAMMON INDIA LIMITED AUDITORS' CERTIFICATE ON CORPORATE GOVERNANCE 1. We have examined the compliance of conditions of Corporate Governance by GAMMON INDIA LIMITED for the fifteen month period ended on 31 st March 2006 as stipulated in clause 49 of the Listing Agreement of the said Company with stock exchanges. 2. The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination was limited to procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company. 3. In our opinion and to the best of our information and according to the explanations given to us, subject to Mr. Kunal Shroff being considered as an Independent Director based on an opinion received by the company from their legal counsel and our opinion on the matter being that Mr. Kunal Shroff is a non-independent director and therefore in our opinion the company not having complied with the requirement of having 50% Independent Directors on its Board for the period from 1 st January 2006 to 31 st March 2006, we certify that the Company has complied with the other conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement. 4. We state that no investor grievance is pending for a period exceeding one month against the Company from the date of receipt of the grievance by the company as per the records and other documents maintained by the Shareholders/Investors Grievance Committee. 5. We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the company. Mumbai, Dated : August 11, 2006 32 For NATVARLAL VEPARI & CO. Chartered Accountants P. N. Vepari Partner M.No. 4954
To The Members of GAMMON INDIA LTD. DECLARATION BY THE MANAGING DIRECTOR UNDER CLAUSE 49 OF THE LISTING AGREEMENT I, Abhijit Rajan, Chairman & Managing Director of Gammon India Limited hereby declare that all the members of the Board of Directors and the senior management personnel have affirmed compliance with the Code of Conduct of the company for the year ended 31st March, 2006. Place : Mumbai Date : 11 th August, 2006 33 For GAMMON INDIA LIMITED ABHIJIT RAJAN Chairman & Managing Director
Page 19 and 20: DIRECTORS’ REPORT Your Directors
Page 21 and 22: ii. Rangit-II hydroelectric project
Page 23 and 24: 15. AUDITORS : M/s. Natvarlal Vepar
Page 25 and 26: REPORT ON CORPORATE GOVERNANCE COMP
Page 27 and 28: ) Recommending the appointment and
Page 29 and 30: 3) The Company sought approval of t
Page 31 and 32: Registrar & Share Transfer Agents M
Page 33: 3 Kaiga Nuclear Power Project Unit
Page 37 and 38: MANAGEMENT DISCUSSION AND ANALYSIS
Page 39 and 40: 5. Outlook : With the economy expec
Page 41 and 42: ANNEXURE TO THE AUDITORS' REPORT (R
Page 43 and 44: (x) The Company does not have any a
Page 45 and 46: INCOME : PROFIT AND LOSS ACCOUNT FO
Page 47 and 48: 31.03.2006 31.12.2004 Rs. in Lacs R
Page 49 and 50: Face Value Nos. as on Nos. as on 31
Page 51 and 52: SCHEDULE 9 49 31.03.2006 31.12.2004
Page 53 and 54: SCHEDULE 13 EXPENDITURE ON CONTRACT
Page 55 and 56: SCHEDULE 16 SIGNIFICANT ACCOUNTING
Page 57 and 58: 16. Earning per share: Basic earnin
Page 59 and 60: 13. MANAGERIAL REMUNERATION: Period
Page 61 and 62: 20. The Company has deposited custo
Page 63 and 64: (c) Details of Income & Expenditure
Page 65 and 66: Annexure Related party Disclosure a
Page 67 and 68: ) Transactions with Related Parties
Page 69 and 70: C) Disclosure of Material Transacti
Page 71 and 72: BALANCE SHEET ABSTRACT AND COMPANY
Page 73 and 74: DETAILS OF SUBSIDIARIES OF GAMMON I
Page 75 and 76: ) In the case of the Consolidated P
Page 77 and 78: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 79 and 80: SCHEDULE 3 77 31.03.2006 31.12.2004
Page 81 and 82: 31.03.2006 31.12.2004 Rs. in Lacs R
Page 83 and 84: 01.01.2005 to 31.03.2006 01.04.2004
Page 85 and 86:
Schedule 16 : SIGNIFICANT ACCOUNTIN
Page 87 and 88:
10. Investments Quoted Investments
Page 89 and 90:
c) The following Associates have be
Page 91 and 92:
4. As per original agreement with R
Page 93 and 94:
(b) In respect of GDRs issued durin
Page 95 and 96:
As at As at 31.03.06 31.12.04 Rs. L
Page 97 and 98:
Sr. Name of Joint Venture Descripti
Page 99 and 100:
Annexure - I Segment Information as
Page 101 and 102:
21 Gammon Videocon Sadbhav Consorti
Page 103 and 104:
C) Disclosure of Material Transacti
Page 105 and 106:
GAMMON INDIA LIMITED CONSOLIDATED C
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Annual Report 2005-2006 - Gammon India

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