URANIUM CORPORATION OF INDIA LIMITED - (UCIL).....

NOTES ON ACCOUNTS
SCHEDULE - 15
1. a) The company is prohibited by the Department of Atomic Energy’s Order No.7/6/69-Min dated August
7,1973 and No.7/6/69 Min (PSU) dated July 3, 1974 issued in terms of Section 18 of the Atomic Energy
Act, 1962 (33 of 1962) from publishing or making available the quantitative information relating to
Turnover, Raw Materials consumed, and information relating to opening and closing stock of goods
produced, Raw Materials purchased or acquired, licensed capacity, installed capacity and the actual
production pursuant to Paragraph 3(i), 3(ii)(1), 3(ii) (2) and 4C of Part II of Schedule VI to the Companies
Act, 1956, and accordingly the above information are not given in the financial statements. This
information alongwith the raw material, stock, any other allied charges and compulsory acquisition of
uranium concentrate and by-products were not made available to the Statutory Auditors appointed
under section 619(2) of the Companies Act, 1956 upto the year 2002-03.
b) However from the year 2003-04 the Statutory Auditors appointed under section 619(2) of the
Companies Act, 1956 at their high level have been given access to all information relating to the
operation of the company vide Department of Atomic Energy’s Order No.10/8(12)/2004-PSU/448
dated 09 July, 2004 for the purpose of conducting an objective and meaningful audit of the accounts
of the company with the confidentiality agreement that the information shall not be furnished to
any other agency and shall not specifically figure in the audit report.
2. a) The Company has obtained Mining Lease for 1128.32 acres of land at Narwapahar. The Company is in
correspondence with the appropriate authorities for obtaining Mining lease for 1312.62 acres (P.Y: 1312.62
acres) of land at Jaduguda, 635.43 acres (P.Y: 635.43 acres) of land at Turamdih, 686.86 acres (P.Y 686.86
acres) of land at Banduhurang, 303.14 acres (P.Y 303.14 acres) of land at Bagjata Mine, 2009.13 acres (P.Y
: NIL) of land at Tumallapalle and 288.20 acres (P.Y : NIL) of land at Mohuldih.
b) The Company is in permissive possession of 1548.09 acres of land (P.Y 1548.09 acres) acquired from
State Government/Private Parties, formal deed of conveyance registration pertaining to which is
pending, the cost whereof Rs. 1517.59 lakh (P.Y Rs. 1517.59 lakh) is included in the fixed Assets of
the Company under the heads “Leasehold Land” and “Freehold Land”.
c) The Company has been using since 1986, 3 acres of land of Hindustan Copper Limited (I.C.C.) at
Mosabani, leased out by erstwhile Government of Bihar. In the absence of any formal agreement no
consideration has been paid for/provided against such usage.
3. During the year, Rs. 10.00 crore was received from Govt. of India as Grant-in-aid towards infrastructure
development to facilitate implementation of the Kylleng Pyndengsohiong Mining & Milling Project,
Mawthabah, Meghalaya. Out of the received amount Rs. 5,94,96,614/- has already been spent.
4. Contingent Liabilities and Commitments :
i) Claims against the company not acknowledge as debts
(Rs. in lakh)
As at
As at
31/03/2007 31/03/2006
Under Litigation 2971.56 2250.58
Disputed demand raised by District Mining Office 277.61 277.61
ii) Unexpired Letter of Credit 53.52 377.86
iii)
Extimated amount of contracts remaining to be executed
on capital account (net of advances) and not provided for 8457.51 14011.91
5. There are some cases pending at various courts against which no provision in the accounts has been
made/not disclosed in contingent liability, as the same is not quantifiable at this stage.
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