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

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Auditors'ReportPara No.Comments / ObservationsANNEXURE REFERRED TO INPARA ‘A’ OF OUR REPORT OF EVENDATE2 c. The Company is maintaining properrecords for inventory. Differencesnoticed on verification betweenthe physical stock and books werematerial in certain instances and havebeen suitably dealt with in the booksof account.Reply by the CompanyFactual. No comments.78
COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OFINDIA UNDER SECTION 619(4) OF THE COMPANIES ACT, 1956 ONTHE ACCOUNTS OF M/s KIOCL LIMITED FOR THE YEAR ENDED31st MARCH 2011.The preparation of financial statements of M/s KIOCL LIMITED for the year ended 31st March2011 in accordance with the financial reporting framework prescribed under the Companies Act,1956 is the responsibility of the management of the Company. The statutory auditor appointedby the Comptroller and Auditor General of India under Section 619(2) of the Companies Act,1956 is responsible for expressing opinion on these financial statements under section 227 of theCompanies Act, 1956 based on independent audit in accordance with the auditing and assurancestandards prescribed by their professional body the Institute of Chartered Accountants of India.This is stated to have been done by them vide their Audit Report dated 9 May 2011 and theirrevised report dated 2 June 2011.I on behalf of the Comptroller and Auditor General of India have conducted a supplementaryaudit under section 619(3)(b) of the Companies Act, 1956 of the financial statements ofM/s KIOCL LIMITED for the year ended 31st March 2011. This supplementary audit has beencarried out independently without access to the working papers of the statutory auditors and islimited primarily to inquiries of the statutory auditors and Company personnel and a selectiveexamination of some of the accounting records. In view of the revisions made vide Para C(c),D and Para 9(b) of Annexure to Revised Auditors' Report and as a result of my auditobservations highlighted during supplementary audit, I have no further comments to offer upon orsupplement to the Statutory Auditors' Report, under Section 619(4) of the Companies Act, 1956.Place: BangaloreDate: 3rd June 2011For and on behalf of theComptroller & Auditor General of IndiaSd/-(C.H. Kharshiing, IA & AS)Principal Director of Commercial Auditand Ex-Officio Member, Audit Board, Bangalore79
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ContentsBoard of Directors 3Notice
Page 10 and 11:
EXPLANATORY STATEMENT PURSUANT TO S
Page 13:
Form of ProxyKIOCL LIMITEDRegd. Fol
Page 16 and 17:
Production for Asia was 897.9 milli
Page 18 and 19:
PROJECTS UNDER CONSTRUCTION :In my
Page 20 and 21:
18Captive Iron Ore Mine:The Company
Page 22 and 23:
Directors’ ReportDear Shareholder
Page 24 and 25:
4.3 The following table summarises
Page 26 and 27:
efforts to cool down the overheatin
Page 28 and 29:
Plant at Mangalore, KIOCL has to ge
Page 30 and 31: Consultant recommended that KIOCL c
Page 32 and 33: mortar manufacture. This can also b
Page 34 and 35: Other Mining /Prospecting Leases9.4
Page 36 and 37: either from the recognised Union or
Page 38 and 39: Visit of Third Sub-Committee of Par
Page 40 and 41: Former Secretary (Steel) Shri Atul
Page 42 and 43: Groups on rolls of the Company as o
Page 44 and 45: 23.4 Your Company has also nominate
Page 46 and 47: 25.3 Inspections: 7 CTE type inspec
Page 48 and 49: 27. BOARD OF DIRECTORSAppointmenti)
Page 50 and 51: energy audit to quantify the target
Page 53 and 54: 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: Auditors'ReportPara No.COMMENTS/OBS
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 and 106: Schedules (Contd.)Year ended Year e
Page 107 and 108: Details of measurement of present v
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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