CONTENTS Proxy Form 65

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Balance Sheet as at 31st March, 2008As at31st March, 2008As at31st March, 2007ScheduleIn Rs.In Rs.SOURCES OF FUNDSShareholders’ FundsShare Capital 1 500,000 500,000Share Application Money 3,400,000 3,400,000Total 3,900,000 3,900,000APPLICATION OF FUNDSCapital Work in Progress 2 14,464,491 10,515,697(Including Capital Advance)Current Assets, Loans and AdvancesCash and bank balances 3 547,178 639,466Loans and advances 4 231,705 36,574Sub-Total (a) 778,883 676,040Less: Current Liabilities and ProvisionsCurrent liabilities 5 11,784,429 7,606,966Sub-Total (b) 11,784,429 7,606,966Net Current Assets (a - b) (11,005,546) (6,930,926)Profit and Loss Account 441,055 315,229Total 3,900,000 3,900,000Notes to Accounts 6The Schedules referred to above and notes to accounts form an integral part of the Balance Sheet.As per our report of even dateS.R. Batliboi & Co.For and on behalf of Board of DirectorsChartered AccountantsEssar Steel Jharkhand Limitedper Hemal Shah V. G. Raghavan N. B. VyasPartner Director DirectorMembership No. 42650Place:MumbaiPlace: MumbaiDate: August 27, 2008 Date: August 27, 2008Profit and Loss Account for the year ended 31st March, 2008ScheduleYear ended31st March, 2008Year ended31st March, 2007In Rs.In Rs.INCOMEIncome - -Total - -EXPENDITUREBank Charges 5,604 4,993Legal and Professional Charges (Refer Note H of Schedule 6) 120,222 114,240Total 125,826 119,233NET LOSS FOR THE YEAR 125,826 119,233Balance as per last Balance Sheet brought forward 315,229 195,996BALANCE LOSS CARRIED FORWARD TO BALANCE SHEET 441,055 315,229Earnings Per Share (Basic and Diluted ) Nominal Value of Rs. 10/- each (2.52) (2.38)(Refer Note G of Schedule 6)Notes to Accounts 6The Schedule referred to above and notes to accounts form an integral part of the Profit & Loss Account.As per our report of even dateS.R. Batliboi & Co.For and on behalf of Board of DirectorsChartered AccountantsEssar Steel Jharkhand Limitedper Hemal Shah V. G. Raghavan N. B. VyasPartner Director DirectorMembership No. 42650Place:MumbaiPlace:MumbaiDate: August 27, 2008 Date: August 27, 200841
Essar Steel Jharkhand LimitedFormerly known as Essar Steel (Jharkhand) LimitedSchedules forming part of the Balance SheetAs at31st March, 2008As at31st March, 2007In Rs.In Rs.Schedule 1 : Share capitalAuthorised10,00,000 (Previous period : 10,00,000) equity shares of Rs.10/- each 10,000,000 10,000,000Issued, Subscribed and Paid Up50,000 (Previous period : 50,000) equity shares of Rs. 10/- each fully paid 500,000 500,000Entire share capital is held by M/s Essar Steel Limited,the holding company together with its nominees.Schedule 2: Capital Work in ProgressCapital Advance for Land Acquisition [A] 2,120,650 2,120,650Pre-Operative Expenditure (Pending Allocation) :-Rent (net) (Refer note F of Schedule 6) 702,000 680,670Power and Fuel 219,746 154,952Communication Expenses 170,666 103,810Project Promotion Expenses 633,844 350,913Travelling and Conveyance 621,699 408,747Postage and Telegram 14,506 7,671Printing and Stationary 83,224 68,083Legal and Professional Expenses 584,668 6,089,675Office Expenses 690,707 502,048Fringe Benefit Tax 74,051 23,461Miscellaneous Expenses 153,683 5,0173,948,794 8,395,047Add: Balance brought forward from previous year 8,395,047 -[B] 12,343,841 8,395,047Total Capital Work in Progress [A]+[B] 14,464,491 10,515,697Schedule 3: Cash and Bank BalancesCash on hand 7,172 14,508Balances with scheduled banks:On current accounts 540,006 624,958547,178 639,466Schedule 4: Loans and Advances(Unsecured, considered good unless otherwise stated)Advace Tax (TDS) 164,701 22,889Prepaid Expenses 5,375 -Amount due from Essar Oil Limited [Maximum amount outstanding duringthe year of Rs. 50,851/- (Previous year Rs. 13,685/-] 50,851 13,685Amount due from Essar Steel Chhattisgarh Limited [Maximum amountoutstanding during the year of Rs. 10,778/- (Previous year Rs. Nil] 10,778 -231,705 36,574Schedule 5: Current LiabilitiesSundry CreditorsDues to Micro, Small & Medium enterprises (Refer note D of Schedule 6) - -Due to Others 5,257,552 5,474,146Advance from Customers 6,200,000 2,000,000Other Liabilities 326,877 132,82011,784,429 7,606,96642
Page 2 and 3: BOARD OF DIRECTORSShashi RuiaRavi R
Page 4 and 5: Sales and Marketing Sales of flat r
Page 6 and 7: Annexure - ‘A’ to Directors’
Page 8 and 9: FORM BRESEARCH AND DEVELOPMENT (R &
Page 10 and 11: Auditors’ Report to the Members o
Page 12 and 13: Name of the statute Nature of dues
Page 14 and 15: Profit and Loss Account for the yea
Page 16 and 17: Schedules forming part of Balance S
Page 19 and 20: Essar Steel LimitedSchedules formin
Page 21 and 22: Essar Steel LimitedSchedules formin
Page 23 and 24: Essar Steel LimitedSchedule forming
Page 25 and 26: Essar Steel LimitedShort term compe
Page 27 and 28: Essar Steel Limited4 Essar Steel (H
Page 29 and 30: Essar Steel LimitedRs. CroresThe As
Page 31 and 32: Essar Steel Limited9. Earnings per
Page 33 and 34: Essar Steel Limited15. Consumption
Page 35 and 36: Essar Steel LimitedAs at31st March
Page 37 and 38: Essar Steel Limited(ii)Provision fo
Page 39 and 40: Essar Steel LimitedCash Flow Statem
Page 41: Essar Steel Jharkhand LimitedFormer
Page 45 and 46: Essar Steel Jharkhand LimitedFormer
Page 47 and 48: Essar Steel Jharkhand LimitedFormer
Page 49 and 50: Essar Steel Orissa LimitedToThe Mem
Page 51 and 52: Balance Sheet as at 31st March, 200
Page 53 and 54: As at31st March, 2008As at31st Marc
Page 55 and 56: are consistent with the currency an
Page 57 and 58: ParticularsYear Ended31st March, 20
Page 59 and 60: Cash Flow Statement for the period
Page 61 and 62: Income Statement for the year ended
Page 63 and 64: NOTES TO THE FINANCIAL STATEMENTSAt
Page 65 and 66: equirements. The facility is repaya
Page 67: ESSAR STEEL LIMITEDRegd. Office: Po

CONTENTS Proxy Form 65

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