2010-11 - Grasim
2010-11 - Grasim
2010-11 - Grasim
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HARISH CEMENT LIMITED<br />
2 Estimated amount of Contracts remaining to be executed on capital account and not provided (advance<br />
paid ` 820.82 lacs) ` 7,881.97 Lacs (LY- ` 9,020.31 Lacs)<br />
3 On writ petitions filed by certain land pwners challenging acquisition of private land by the Govt. of HP<br />
for setting up of Cement Plant of the Company and environmental clearance granted to the project, the<br />
Hon’ble High Court of Himachal Pradesh passed and order quashing the land aquisition by the Govt. of<br />
HP and also quashed the environmental clearance granted for the project on procedural grounds. The<br />
Company has filed SLIP challenging the Hon’ble High Court’s order in the Hon’ble Supreme Court of<br />
India on 14.01.20<strong>11</strong>, which has been admitted on 04.03.20<strong>11</strong>.<br />
4 The Govt. of HP has approved a model Rehabilitation and Resettlement Scheme for project affected<br />
families. Company will adhere for implementation of the above plan in accordance with the provisions<br />
of the Scheme, however, the financial quantum of the same is not ascertainable at this stage.<br />
5 Previous year figures have been regrouped wherever necessary.<br />
6 Pursuant to a Scheme of Arrangement u/s 391 to 394 of the Companies Act,1956, and amalgamation<br />
scheme, Shares of Company held by Samruddhi Cement Ltd (holding Company of the Company) have<br />
been transferred to Ultra Tech Cement Ltd. w.e.f.01-07-<strong>2010</strong>. Accordingly now the Company is a subsidiary<br />
of Ultra Tech Cement Ltd. (subsidiary of <strong>Grasim</strong> Industires Ltd.) w.e.f. 01-07-<strong>2010</strong>.<br />
7 Disclosure of related parties/related party transactions:<br />
A. List of related parties<br />
Name of the Related Part<br />
arty<br />
Nature of Relatioship<br />
Samruddhi Cement Ltd. (upto 30.06.<strong>2010</strong>) Holding Company<br />
UltraTech Cement Ltd. (w.e.f. 01.07.<strong>2010</strong>) Holding Company<br />
<strong>Grasim</strong> Industries Ltd.<br />
Ultimate Holding Company<br />
B. Disclosure of related party transactions:<br />
Sr. . No. Nature of Transaction<br />
Holding Company<br />
Amount<br />
in ` Lacs<br />
1 Loans & Borrowings UltraTech Cement Ltd. 3,348.50<br />
( - )<br />
Samruddhi Cement Ltd. 1425.00<br />
(2,700.00)<br />
<strong>Grasim</strong> Industries Ltd. -<br />
(2,<strong>11</strong>1.84)<br />
2 Sale of Fixed Assets UltraTech Cement Ltd. 0.01<br />
3 Purchases of Stores & Spares UltraTech Cement Ltd. 0.07<br />
Figures in brackets are pertaining to the previous year<br />
Outstanding Balance as on 31st Mar, 20<strong>11</strong><br />
Sr. . No. Nature of Transaction<br />
Holding Company<br />
Amount<br />
in ` Lacs<br />
1 Unsecured loans Ultra Tech Cement Ltd. 12,157.02<br />
Samruddhi Cement Ltd. *(7,383.53)<br />
Figures in brackets are pertaining to the previous year<br />
* Samruddhi Cement Ltd<br />
6 Auditors remuneration (excluding service tax) and expenses charged to the accounts<br />
Stat<br />
atutor<br />
utory Auditors<br />
Amount in ` Lacs<br />
<strong>2010</strong>-1<br />
0-<strong>11</strong> 2009-1<br />
09-10<br />
1 Audit fees 0.05 0.05<br />
2 Expenses - -<br />
<strong>11</strong>0
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