2010-11 - Grasim
2010-11 - Grasim
2010-11 - Grasim
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UltraTec<br />
ech Cement Limited<br />
SCHEDULE 21 (Contd.)<br />
14.<br />
Movement of provisions during the period as required by Accounting Standard - 29 “Provisions,<br />
Contingent Liabilities and Contingent Asset” notified under the Companies (Accounting Standard)<br />
Rules, 2006 (as amended):<br />
(a) Mines Restoration Expenditure:<br />
` in Crores<br />
<strong>2010</strong>-1<br />
0-<strong>11</strong> 2009-1<br />
09-10<br />
Opening Provision 6.70 5.12<br />
Transferred from SCL as on 01.07.<strong>2010</strong>, pursuant to<br />
Scheme of Amalgamation 0.83 -<br />
Add: Provision during the year 1.85 1.73<br />
Less: Utilisation during the year - 0.15<br />
Closing Pro<br />
rovision<br />
9.38 6.70<br />
(b) Pro<br />
rovision for Cost of Assets transfer<br />
erred red from SCL:<br />
` in Crores<br />
<strong>2010</strong>-1<br />
0-<strong>11</strong><br />
Transferred from SCL as on 01.07.<strong>2010</strong>, pursuant to<br />
Scheme of Amalgamation 131.16<br />
Add: Provision during the year 88.21<br />
Less: Utilisation during the year 25.00<br />
Closing Pro<br />
rovision<br />
194.37<br />
15.<br />
5. Disclosure of related parties/related party y transactions:<br />
(a) Names of Related parties with whom transactions were carried out during the year and<br />
description of relationship:<br />
Name of the Related Part<br />
arty<br />
Nature of Relationship<br />
<strong>Grasim</strong> Industries Limited (<strong>Grasim</strong>)<br />
Holding Company<br />
Samruddhi Cement Limited (SCL) (Upto 30.06.<strong>2010</strong>) Fellow Subsidiary<br />
Samruddhi Swastik Trading & Investment Ltd.(SSTL) Fellow Subsidiary<br />
Vikram Sponge Iron Ltd (VSIL) (Upto 21.05.2009) Fellow Subsidiary<br />
<strong>Grasim</strong> Bhiwani Textiles Ltd. (GBTL)<br />
Fellow Subsidiary<br />
Mr. O. P. Puranmalka, Whole Time Director<br />
Key Management Personnel (KMP)<br />
Mrs. Sita Puranmalka<br />
Relative of Mr. O.P. Puranmalka (Wife)<br />
Mr. S. Misra, Managing Director (upto 31.03.<strong>2010</strong>) Key Management Personnel (KMP)<br />
(b) Disclosure of related party transactions:<br />
` in Crores<br />
Nature of Transactions<br />
<strong>2010</strong>-1<br />
0-<strong>11</strong> 2009-1<br />
09-10<br />
Sale of Goods:<br />
<strong>Grasim</strong> Industries Limited 3.30 122.31<br />
Samruddhi Cement Limited 15.68 -<br />
<strong>Grasim</strong> Bhiwani Textiles Ltd. 0.06 -<br />
Tot<br />
otal<br />
19.04<br />
122.31<br />
85 ⊳
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