2010-11 - Grasim

UltraTec
ech Cement Limited
SCHEDULE 21 (Contd.)
13.
Details of the Company’s interest in its Joint Venture, having Joint Control, as per the requirement
of Accounting Standard (AS) -27 on “Financial Reporting of Interests in Joint Ventures” notified
under the Companies (Accounting Standard) Rules, 2006, are as under:
Sr. . No. Particulars
` in Crores
Madanpur (North) Coal
Bhaskarpara Coal
Company (Pvt.) Ltd. Co. Ltd*.
2010-1
0-11 2009-1
09-10 2010-1
0-11 2009-1
09-10
% Shares Held 11.17% 11.17% 47.37% -
(a) Assets 1.10 1.05 8.00 -
(b) Liabilities 0.01 - 0.01 -
(c) Income - - - -
(d) Expenses - - 0.06 -
(e) Other Matters – Contingent
Liability 3.65 3.65 4.00 -
* Transferred pursuant to the Scheme of Amalgamation of SCL with the Company.
14.
4. Defer
erred
red Tax
ax Assets and Liabilities as on March h 31, 2011 1 are as under:
` in Crores
Particulars
Defer
erred
red
Transf
ransfer
erred
red
Current
rent
Defer
erred
red
Tax
from SCL as on
Year
Tax(assets)/
(assets)/ 01.07
.07.20
.2010,
0, Charge/
liabilities
liabilities
pursuant to (Credit) as at 31.03.20
.03.2011
as at
Scheme of
01.04.20
.04.2010 Amalgamation
Defer
erred
red Tax
Assets:-
Provision allowed under tax on payment basis (23.79) (91.36) (46.46)* (161.61)
(23.79) (91.36)
(46.46) (161
61.61)
Defer
erred
red Tax Liabilities:-
Accumulated Depreciation 846.95 1,023.23 14.09 1,884.27
Payments allowed under tax not
expensed in books 7.57 - (0.18) 7.39
854.52 1,023.23 13.91
1,891.66
Net Defer
erred
red Tax ax Liability 830.73 931.87
(32.55) 1,730.05
Deferred Tax benefits are recognized on assets to the extent that it is more likely than not future
taxable profit will be available against which the asset can be utilised.
* Out of ` 46.46 Crores, ` 29.31 Crores adjusted in General Reserve on account of Cost of assets
transferred pursuant to Scheme of Amalgamation of SCL with the Company.
47 ⊳