Download the Annual Report for 2010-11. - kiocl limited

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Year ended Year ended31-03-2011 31-03-2010` in Lakhs17. Related party disclosure:Key Management personnel :K RanganathM B PadiyarChairman-cum-Managing DirectorDirector (Production & Projects)T M Gopalakrishna Bhat Director (Finance)Maj Gen (Dr) OP SoniDirector (Commercial)w.e.f.. 01.02.2011Except salary, perquisites and other particulars shown underSchedule 11, there are no other transactions with the relatedparties which need disclosure.18. Certain accounting policies have been re-wordedduring the year to improve clarity. Impact has beenquantified, wherever necessary.19. Confirmation of balances from Sundry Creditors,Sundry Debtors, advances, deposits and materialswith subcontractors in certain cases have not beenreceived.20. Previous year's figures have been regrouped wherevernecessary.21. Figures in the Balance Sheet, Profit and Loss Accountand the Schedules thereon have been rounded off to` Thousands and expressed in ` Lakhs.K. Ranganath T.M.G.K BhatChairman-cum-Managing DirectorDirector (Finance)As per our report of even datefor M/s ASA & AssociatesChartered Accountants104P. NitishPlace : BangaloreS.K. PadhiPartnerDate : 6th May, 2011 Company SecretaryMembership No. 0247369th May, 2011
Details of measurement of present value of obligation in repect of Retirement Benefits foremployees as per actuarial valuation are as follows: (Refer Note No. 8)TYPE OF PLANGRATUITYPERIOD OF DISCLOSURE 01-04-2010 TO 31-03-2011I. PRINCIPAL ACTUARIAL ASSUMPTIONS 31-03-2010 31-03-2011[Expressed as weighted averages]Discount Rate 8.40% 8.20%Salary escalation rate 5.00% 5.00%Attrition rate 0.50% 0.50%Expected rate of return on Plan Assets 7.00% 8.00%In the following tables,all amounts are in Rupees,unless otherwise statedII. CHANGES IN THE PRESENT VALUE OFTHE OBLIGATION (PVO) - RECONCILIATIONOF OPENING AND CLOSING BALANCES:PVO as at the beginning of the period 4,025.71Interest Cost 333.53Current service cost 118.35Past service cost - (non vested benefits) -Past service cost - (vested benefits) -Benefits paid (110.25)Actuarial loss/(gain) on obligation (balancing figure) 337.84PVO as at the end of the period 4,705.18III. CHANGES IN THE FAIR VALUE OF PLAN ASSETS -RECONCILIATION OF OPENING ANDCLOSING BALANCES:Fair value of plan assets as at the beginning of the period 3.73Expected return on plan assets 7.26Contributions 100.00Benefits paid (110.26)Actuarial gain/(loss) on plan assets [balancing figure] 1.24Fair value of plan assets as at the end of the period 1.97IV. ACTUAL RETURN ON PLAN ASSETSExpected return on plan assets 7.26Actuarial gain (loss) on plan assets 1.24Actual return on plan assets 8.50V. ACTUARIAL GAIN / LOSS RECOGNIZEDActurial gain / (loss) for the period - Obligation (337.84)Actuarial gain / (loss) for the period- Plan Assets 1.24Total (gain) / loss for the period 336.60Actuarial (gain) / loss recognized in the period 336.60Unrecognized actuarial (gain) / loss at the end of the year -105
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ContentsBoard of Directors 3Notice
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EXPLANATORY STATEMENT PURSUANT TO S
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Form of ProxyKIOCL LIMITEDRegd. Fol
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Production for Asia was 897.9 milli
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PROJECTS UNDER CONSTRUCTION :In my
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18Captive Iron Ore Mine:The Company
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Directors’ ReportDear Shareholder
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4.3 The following table summarises
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efforts to cool down the overheatin
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Plant at Mangalore, KIOCL has to ge
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Consultant recommended that KIOCL c
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mortar manufacture. This can also b
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Other Mining /Prospecting Leases9.4
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either from the recognised Union or
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Visit of Third Sub-Committee of Par
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Former Secretary (Steel) Shri Atul
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Groups on rolls of the Company as o
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23.4 Your Company has also nominate
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25.3 Inspections: 7 CTE type inspec
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27. BOARD OF DIRECTORSAppointmenti)
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energy audit to quantify the target
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Annexure-IICORPORATE GOVERNANCECOMP
Page 55 and 56: is not practical to send the releva
Page 57 and 58: Corporate Governance (Contd.)c) To
Page 59 and 60: Corporate Governance (Contd.)Detail
Page 61 and 62: Corporate Governance (Contd.)(iii)
Page 63 and 64: Corporate Governance (Contd.)(xii)
Page 65 and 66: Corporate Governance (Contd.)(xx) R
Page 67 and 68: WeaknessCorporate Governance (Contd
Page 69 and 70: Corporate Governance (Contd.)local
Page 71 and 72: KIOCL Limited(Formerly Kudremukh Ir
Page 73 and 74: Annexure-IIIASA & ASSOCIATESCharter
Page 75 and 76: C. a. Confirmations of Balances hav
Page 77 and 78: Auditors' Report (Contd.)5. a. In o
Page 79 and 80: Auditors'ReportPara No.COMMENTS/OBS
Page 81 and 82: COMMENTS OF THE COMPTROLLER AND AUD
Page 83 and 84: 3.2 Depreciation in respect of Asse
Page 85 and 86: 7.2 Provision for Leave Encashment
Page 87 and 88: Profit and Loss Account for the yea
Page 89 and 90: Schedule 3FIXED ASSETSG R O S S B L
Page 91 and 92: Schedules (Contd.)Schedule 6CURRENT
Page 93 and 94: Schedules (Contd.)Schedule 7CURRENT
Page 95 and 96: Schedule 10ACCRETION/(-)DEPLETION T
Page 97 and 98: Schedules (Contd.)Schedule 14PRIOR
Page 99 and 100: Schedules (Contd.)Schedule 16NOTES
Page 101 and 102: 5. In pursuance of the directive of
Page 103 and 104: y the Govt of India and is binding
Page 105: Schedules (Contd.)Year ended Year e
Page 109 and 110: TYPE OF PLANLONG TERM COMPENSATEDAB
Page 111 and 112: TYPE OF PLANLONG TERM COMPENSATEDAB
Page 113 and 114: Balance Sheet Abstract and Company'
Page 115 and 116: Cash Flow Statement for the year en
Page 117 and 118: SEGMENT REPORTING FOR THE YEAR ENDE
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