annual report - Jindal Group of Companies

More documents

Recommendations

Info

5. (i) Confirmation for one of the loans of Rs. 1087 Lacs outstanding as on 31st March, 2011 has not been received so far.(ii)The identification of Micro, Small & Medium Sized Enterprise Suppliers (MSMES) is based on management's knowledgeof their status.6. In the opinion of the Management and to the best of their knowledge and belief, the value of current assets, loans andadvances, if realised in the ordinary course of business would not be less than the amount at which they are stated in theBalance Sheet.7. MANAGERIAL REMUNERATIONRemuneration to Managing Director (s) :ITEMSYear ended(Amount in Rs.)31.03.2011 31.03.2010Note:Salary 47,34,516 57,71,071Contribution to PF 13,884 10,920Perquisites 1,483,167 254,144Total 62,31,567 60,36,135a) Including allowances but excluding contribution towards retirement benefits, since it is determined on the basis ofactuarial valuation for all employees in a consolidated manner including managerial employees.b) Computation of net profit in accordance with the relevant provisions of the Companies Act, 1956 has not been disclosedas no commission is payable to the Managing Director.8. Disclosures as required by Accounting Standards referred to in sub-section (3C) of the section 211 of the Companies Act,1956 (to the extent applicable and mandatory):8.1 The amount of Exchange Difference (Net):a) The Foreign Exchange Loss (Net) Rs. 68,299,178/- (Previous Year Rs.73,970,541/-) resulting from settlement, restatementof foreign exchange transactions and losses on account of mark to market adjustments on outstanding derivativeinstruments (if any) has been adjusted in the Profit & Loss Account.b) Forward contracts entered in to for hedging purpose and outstanding as at year end:31.03.2011 31.03.2010Amount in Equivalent Amount in EquivalentForeign Currency Indian Rupees Foreign Currency Indian(USD) (USD) RupeesFor receivables 32,500,000 1,448,850,000 24,000,000 1,077,600,00050
(c)Foreign Currency Exposure that are not hedged by derivative transactions or otherwiseParticularsCurrencyAs at31.03.2011 31.03.2010Foreign INR Foreign INRCurrencyCurrencyForeign Currency Receivables USD 40,022,654 1,784,209,765 52,146,790 2,341,390,886Foreign Currency Payables USD 15,519,991 692,039,626 33,146,551 1,488,611,628Pound 2,014 144,323 - -SGD 1,712 60,600 5017 160952EURO - - 11978 726,702Foreign Currency Loan Taken USD - - 2,119,083 95,167,901Foreign Currency Loan Given USD 20,032,162 893,033,781 16,699,683 749,815,774to Joint Venture DDPLEquity Participation in SGD 7,625,220 222,411,019 7,625,220 222,411,019Joint Venture DDPLEquity Participation in SGD 13,767,623 400,765,072 13,767,623 400,765,072Joint Venture VDPL8.2 Disclosure as per Accounting Standard - 15(a)Gratuity:(i)(ii)The employees' gratuity fund scheme managed by LIC of India is a defined benefit plan. The present value ofobligation is determined based on actuarial valuation using the projected unit credit method, which recogniseseach period of service as giving rise to additional unit of employee benefit entitlement and measures each unitseparately to build up the final obligation.Actuarial Valuation of Gratuity is based on the maximum liability of Rs.10,00,000/- i.e. as provided under the GratuityAct.(b)Leave EncashmentThe obligation for leave encashment is recognised and disclosed as per the Actuarial Valuation Report.51
Page 3 and 4: Putting thingstogether in astrategi
Page 5 and 6: 03During the year, a few majorcontr
Page 7 and 8: Upstream giant, Oil & Natural Gas C
Page 9 and 10: any lost time incident clocking a r
Page 11 and 12: BOARD OF DIRECTORSD.P. JindalRaghav
Page 13 and 14: NOTES:1. A MEMBER ENTITLED TO ATTEN
Page 15 and 16: 10. In case of joint holders attend
Page 17 and 18: DIRECTORS' RESPONSIBILITY STATEMENT
Page 19 and 20: CORPORATE GOVERNANCE REPORTThe purs
Page 21 and 22: The broad terms of reference of Aud
Page 23 and 24: (II) Special Resolutions passed in
Page 25 and 26: Distribution of shareholding as on
Page 27 and 28: CERTIFICATE ON CORPORATE GOVERNANCE
Page 29 and 30: Unlike other parts of the world whe
Page 31 and 32: ANNEXURE TO THE AUDITORS' REPORT(As
Page 33 and 34: 18. According to the information an
Page 35 and 36: PROFIT & LOSS ACCOUNT FOR THE YEAR
Page 37 and 38: SCHEDULES FORMING PART OF THE FINAN
Page 39 and 40: SCHEDULE : 4 - FIXED ASSETS as at 3
Page 41 and 42: As at 31.03.2011As at 31.03.2010Sha
Page 43 and 44: NAME OF THE COMPANY NUMBER OF PURCH
Page 45 and 46: SCHEDULE : 6 - INVENTORIESAs At As
Page 47 and 48: Year Ended Year Ended31.03.2011 31.
Page 49 and 50: h. Revenue RecognitionRevenue is re
Page 51: B. NOTES ON ACCOUNTS1. Estimated am
Page 55 and 56: (v)Investment detailsParticulars(Am
Page 57 and 58: 8.6 In view of the Accounting Stand
Page 59 and 60: 9. Additional Information pursuant
Page 61 and 62: JINDAL DRILLING & INDUSTRIES LIMITE

annual report - Jindal Group of Companies

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?