http://ascjaipur.com/Financial%20Statements%20of%20Electricity%20Companies.pdf
http://www.moneycontrol.com/annual-report/tatapowercompany/notes-to-account/TPC Notes to Accounts | Year End : Mar '13 |
1. Background: The Company, pioneered the generation of electricity in India nine decades ago. Prior to 1st April, 2000 the Tata Electric Companies comprised of the following three Companies - - The Tata Hydro-Electric Power Supply Company Limited, established in 1910 (Tata Hydro). - The Andhra Valley Power Supply Company Limited, established in 1916 (Andhra Valley). - The Tata Power Company Limited, established in 1919 (Tata Power). With effect from 1st April, 2000, Andhra Valley and Tata Hydro merged into Tata Power to result in one large unified entity. The Company has an installed generation capacity of 3075 MW in India and a presence in all the segments of the power sector viz. Fuel and Logistics, Generation (thermal, hydro, solar and wind), Transmission and Distribution. 2.1. The Company has been providing depreciation on assets at rates and methodology relating to the electricity business in accordance with the Central Government notification under the Electricity (Supply) Act, 1948 (repealed). Vide its notification dated 31st May, 2011, the Ministry of Corporate Affairs (MCA) has clarified that companies engaged in the generation and supply of electricity can provide for depreciation at rates and methodology notified by Central Electricity Regulatory Commission (CERC). The CERC, under the provisions of The Electricity Act, 2003, notified the rates and methodology effective 1st April, 2009, under the Terms and Conditions of Tariff Regulations, 2009. These rates would be applicable for purposes of tariff determination and accounting in terms of the provisions of National Tariff Policy notified by the Government of India. Management had sought clarifications and guidance from the MCA on the applicability of the CERC rates as the Company has both regulated and non-regulated generating capacity. The Company has, during the year ended 31st March, 2013, based on a legal opinion, provided for depreciation in respect of its electricity business following the rates and methodology notified by the CERC w.e.f. 1st April, 2009 and at the rates as per the Power Purchase Agreements (PPA) for capacities covered under PPAs, if higher than those notified by CERC. Accordingly, depreciation of Rs. 219.80 crore for the years 2009-10 to 2011-12 has been written back during the year ended 31st March, 2013. Further the depreciation charge for the year ended 31st March, 2013 is lower by Rs. 48.02 crore. As a result, the current tax for the year ended 31st March, 2013, is higher by Rs. 53.58 crore and the deferred tax charge for the year ended 31st March, 2013 is higher by Rs. 204.28 crore. 2.2. (a) During the previous year, in line with the Notification dated 29th December, 2011 issued by the Ministry of Corporate Affairs (MCA), the Company had selected the option given in paragraph 46A of the Accounting Standard-11 (AS-11) - The Effects of Changes in Foreign Exchange Rates. Accordingly, the depreciated/amortised portion of net foreign exchange (gain)/loss on long-term foreign currency monetary items for the year ended 31st March, 2013 is Rs. 83.84 crore (31st March, 2012 -Rs.39.01 crore). The unamortised portion carried forward as at 31st March, 2013 is Rs. 253.86 crore (31st March, 2012 - Rs. 213.56 crore). (b) During the previous year, the Company had changed its accounting policy pertaining to accounting for expenditure incurred on purchase/implemenation of application software which hitherto was being charged off in the year of accrual and is now being capitalised and amortised over the useful economic life or 5 years whichever is lower. This results in a more appropriate presentation. As a result of this change, the depreciation and amortisation for the previous year was lower by Rs. 10.07 crore and the profit before tax was higher by Rs. 10.07 crore. 3. In an earlier year, the Company had commissioned its 120 MW thermal power unit at Jojobera, Jharkhand. Revenue in respect of this unit is recognised on the basis of a draft Power Purchase Agreement prepared jointly by the Company and its customer which is pending finalisation. 4. The Company has been legally advised that the Company is considered to be established with the object of providing infrastructural facilities and accordingly, Section 372A of the Companies Act, 1956 is not applicable to the Company. 5. (a) The Company has a long-term investment of Rs. 5,103.61 crore (including advance towards equity) (31st March, 2012 - Rs. 4,112.08 crore) and has extended loans amounting to Rs. 436.57 crore (including interest accrued) (31st March, 2012 - 7248.88crore) to Coastal Gujarat Power Limited (CGPL) a wholly owned subsidiary of the Company which has implemented the 4000 MW Ultra Mega Power Project at Mundra (Mundra UMPP) and declared commercial operations for all its five Units of 800 MW each. CGPL has obligated to charge escalation on 45 percent of the cost of coal in terms of the 25 year power purchase agreement relating to the Mundra UMPP. During the year, CGPL''s Management has re-assessed the recoverability of the carrying amount of the assets at Mundra as of 31st March, 2013 and concluded that the cash flows expected to be generated over the useful life of the asset of 40 years would not be sufficient to recover the carrying amount of such assets and has therefore recorded in CGPL''s books as at 31st March, 2013, a provision for an impairment loss of Rs. 2,650.00 crore (31st March, 2012 - Rs. 1,800.00 crore). In estimating the future cash flows, Management has, based on externally available information, made certain assumptions relating to the future fuel prices, future revenues, operating parameters and the assets'' useful life which Management believes reasonably reflects the future expectation of these items. In view of the estimation uncertainties, the assumptions will be monitored on a periodic basis and adjustments will be made if conditions relating to the assumptions indicate that such adjustments are appropriate. The Company''s investments in Indonesian coal companies through its wholly owned subsidiaries, Bhira Investments Limited and Khopoli Investments Limited, were made to secure long-term coal supply. The Management believes that cash inflows (in the nature of profit distribution) from these investments from an economic perspective provide protection from the risk of price volatility on coal to be used in power generation in CGPL, to the extent not covered by price escalations. In order to provide protection to CGPL and to support its cash flows, the Management has committed to a future restructuring under which the Company will transfer at least 75 percent of its equity interests in the Indonesian Coal Companies to CGPL, subject to receipt of regulatory and other necessary approvals which are being pursued and will also evaluate other alternative options. A valuation of the equity interests in the Indonesian Coal Companies has been carried out on the basis of certain assumptions, including legal interpretation that there is reasonable certainty that the mining leases would be extended without significant cost. Having regard to the overall returns expected from the Company''s investment in CGPL, including the valuation of investments in the Indonesian Coal Companies and the proposed future restructuring, no provision for diminution in value of long-term investment in CGPL is considered necessary as at 31st March, 2013. (b) The Company has an investment in Tata Teleservices Limited (TTSL) of Rs. 735.48 crore (31stMarch,2012 -r735.48crore). Based on the accounts as certified by the TTSL Management for the period ended 31st December, 2012, TTSL has accumulated losses which have significantly eroded its net worth. In the opinion of the Management, having regard to the long-term nature of the business, there is no diminution other than temporary, in the value of the investment also considering the Hon''ble Supreme Court judgement cancelling the three (3) CDMA licenses pertaining to Jammu & Kashmir, Assam and North East Circles of TTSL. (c) The Company has an investment in Haldia Petrochemicals Limited (HPL) of Rs. 22.50 crore (31stMarch, 2012 - f 22.50 crore). Based on the accounts for the year ended 31st March, 2012, HPL has accumulated losses which have significantly eroded its net worth. In the opinion of the Management, having regard to the long-term nature of the business, there is no diminution other than temporary, in the value of the investment. 6. Commitments: (a) Capital commitments: Capital commitments not provided for are estimated at Rs. 545.82 crore (31stMarch, 2012 -Rs.477.46 crore). (b) Uncalled liability on Shares and Other Investment partly paid: Uncalled liability on partly paid-up shares - Rs. 13.42 crore (31stMarch, 2012 -Rs. 13.33 crore). (c) Other commitments: (i) In terms of the Sponsor Support agreement entered into between the Company, Coastal Gujarat Power Limited (CGPL) and lenders of CGPL, the Company has undertaken to provide support by way of base equity contribution to the extent of 25% of CGPL''s project cost and additional equity or subordinated loans to be made or arranged for, if required as per the financing agreements to finance the project. The sponsor support also includes support by way of additional equity for any overrun in project costs and Debt Service Reserve Guarantee as provided under the financing agreements. The support will cease on the date of financial completion as defined under the relevant financing agreements. Further, CGPL has entered into Agreements with the Company, (i) for Additional Subordinated Loan to the extent of USD 50 million (equivalent to Rs. 200.00 crore at a fixed rate of exchange of Rs. 40 = USD 1.00) and (ii) for Additional Subordinated Loans to the extent of Rs. 1,600.00 crore. In accordance with these agreements the Company has provided total Additional Subordinated Loans of Rs. 1,167.41 crore (of which Rs. 767.41 crore has been converted into equity ) (31st March, 2012 - Rs.212.31 crore) to CGPL. Balance of both the loans would be repaid in accordance with the conditions of the Subordination and Hypothecation Agreements either out of additional equity to be infused by the Company or out of the balance Indian rupee term loans receivable by CGPL in future period, after the fulfillment of conditions in the Coal Supply and Transportation Agreements Completion Date (CSTACD) agreement. The Company has waived charging interest on these loans from 1st April, 2012. The accrued interest as at 31st March, 2013 aggregating to Rs. 36.57 crore (31st March, 2012 - f36.57crore) on Additional Subordinated Loans shall be payable subject to fulfillment of conditions in Subordination Agreement and Coal Supply and Transportation Agreements Completion Date (CSTACD) agreement. (ii) The Company has undertaken to arrange for the necessary financial support to its Subsidiary Companies Khopoli Investments Limited, Bhivpuri Investments Limited, Industrial Power Utility Limited and Tata Power Jamshedpur Distribution Limited. (iii) In respect of Maithon Power Limited (MPL), the Company jointly with Damodar Valley Corporation (DVC) has undertaken to the lenders of MPL, to provide support by way of base equity contribution and additional equity or subordinated loans to meet the increase in Project Cost. Further, the Company has given an undertaking to MPL to fulfill payment obligations of Tata Power Trading Company Limited (TPTCL) and Tata Power Delhi Distribution Limited (TPDDL) in case of their default. (iv) In terms of pre-implementation agreement entered into with Government of Himachal Pradesh and the consortium consisting of the Company and SN Power Holding Singapore Pte. Limited (Company being the Lead Member of the consortium) for the investigation and implementation of Dugar Hydro Electric project, the Company has undertaken as Lead Member to undertake/perform various obligations pertaining to Dugar Project. (v) In accordance with the terms of the Share Purchase Agreement and the Shareholder''s Agreement entered into by Panatone Finvest Limited (PFL), an associate of the Company, with the Government of India, PFL has contractually undertaken aSurplus Land obligation including agreeing to transfer 45% of the share capital of the Resulting Company, at Nil consideration, to the Government of India and other selling shareholders upon Demerger of the Surplus Land by Tata Communications Limited (TCL). The Company has till date acquired 1,34,22,037 shares of TCL from PFL. The Company would be entitled to be allotted 4.71% of the share capital of the Resulting Company based on its holding of 1,34,22,037 shares of TCL. The Company has undertaken to PFL to bear the Surplus Land obligation pertaining to these shares. (vi) The Company has given an undertaking for non-disposal of shares to the lenders of Tata Power Delhi Distribution Limited amounting to Rs. 721.22 crore (31stMarch, 2012 -Rs. 931.28crore). (vii) The Company has given letter of comfort to Cennergi Pty. Limited amounting to Rs. 27.57 crore (31st March, 2012 - Rs. Nil). 7. Contingent Liabilities (to the extent not provided for): (a) Claims against the Company not acknowledged as debts aggregating to Rs. 370.06 crore (31st March, 2012 - Rs.234.66 crore) consist mainly of the following: (i) Octroi claims disputed by the Company aggregating to Rs. 5.03 crore (31st March, 2012 - f 5.03 crore), in respect of octroi exemption claimed by the Company. (ii) A Suit has been filed against the Company claiming compensation of Rs. 20.51 crore (31st March, 2012 - f 20.51 crore) by way of damages for alleged wrongful disconnection of power supply and interest accrued thereon Rs. 111.99 crore (31st March, 2012 - Rs. 107.68 crore). (iii) (a) Rates, Cess, Way Leave Fees and Duty claims disputed by the Company aggregating Rs. 63.73 crore (31stMarch, 2012 - Rs. 68.90 crore). In respect of certain dues as per the terms of an agreement, the Company has the right to claim reimbursement from a third party. (b) Custom duty claims of Rs. 135.52 crore disputed by the Company relating to issue of applicability and classification (Payment made under protest against these claims of Rs. 135.52 crore). (iv) Other claims against the Company not acknowledged as debts Rs. 33.28 crore (31st March, 2012 - f 32.54 crore). (v) Amounts in respect of employee related claims/disputes, regulatory matters is not ascertainable. Future cash flows in respect of the above matters are determinable only on receipt of judgements/decisions pending at various forums/authorities. (b) Other Contingent Liabilities: Taxation matters for which liability, relating to issues of deductibility and taxability, is disputed by the Company and provision is not made (computed on the basis of assessments which have been re-opened and assessments remaining to be completed) Rs. 58.82 crore (including interest demanded Rs. 1.25 crore) [(31st March, 2012 - f 113.85 crore) (including interest demanded f 6.31 crore)]. Future cash flows in respect of the above matters are determinable only on receipt of judgements/decisions pending at various forums/authorities. (d) In respect of the Standby Charges dispute with Reliance Infrastructure Limited (R-Infra) for the period from 1st April, 1999 to 31st March, 2004, the Appellate Tribunal of Electricity (ATE), set aside the Maharashtra Electricity Regulatory Commission (MERC) Order dated 31st May, 2004 and directed the Company to refund to R-Infra as on 31st March, 2004, Rs. 354.00 crore (including interest of Rs. 15.14 crore) and pay interest at 10% per annum thereafter. As at 31st March, 2013 the accumulated interest was Rs. 184.76 crore (31st March, 2012 - r 173.56 crore) (Rs. 11.20 crore for the year ended 31st March, 2013). On appeal, the Hon''ble Supreme Court vide its Interim Order dated 7th February, 2007, has stayed the ATE Order and in accordance with its directives, the Company has furnished a bank guarantee of the sum of Rs. 227.00 crore and also deposited Rs. 227.00 crore with the Registrar General of the Court which has been withdrawn by R-Infra on furnishing the required undertaking to the Court. Further, no adjustment has been made for the reversal in terms of the ATE Order dated 20th December, 2006, of Standby Charges credited in previous years estimated at Rs. 519.00 crore, which will be adjusted, wholly by a withdrawal/set off from certain Statutory Reserves as allowed by MERC. No provision has been made in the accounts towards interest that may be finally determined as payable to R-Infra. Since 1st April, 2004, the Company has accounted Standby Charges on the basis determined by the respective MERC Tariff Orders. The Company is of the view, supported by legal opinion, that the ATE''s Order can be successfully challenged and hence, adjustments, if any, including consequential adjustments to the Deferred Tax Liability Fund and the Deferred Tax Liability Account will be recorded by the Company on the final outcome of the matter. (e) MERC vide its Tariff Order dated 11th June, 2004, had directed the Company to treat the investment in its wind energy project as outside the Mumbai Licensed Area, consider a normative Debt Equity ratio of 70:30 to fund the Company''s fresh capital investments effective 1st April, 2003 and had also allowed a normative interest charge @ 10% per annum on the said normative debt. The change to the Clear Profit and Reasonable Return (consequent to the change in the capital base) as a result of the above mentioned directives for the period upto 31st March, 2004, has been adjusted by MERC from the Statutory Reserves along with the disputed Standby Charges referred to in Note 32(d) above. Consequently, the effect of these adjustments would be made with the adjustments pertaining to the Standby Charges dispute as mentioned in Note 32(d) above. (f) During the year 2008-09, in terms of the agreements entered into between Tata Teleservices Limited (TTSL), Tata Sons Limited (TSL) and NTT DoCoMo, Inc. of Japan (Strategic Partner-SP), TSL gave an option to the Company to sell 2,72,82,177 equity shares in TTSL to the SP, as part of a secondary sale of 25,31,63,941 equity shares effected along with a primary issue of 84,38,79,801 shares by TTSL to the SP. If certain performance parameters and other conditions are not met by TTSL by 31st March, 2014 and should the SP decide to divest its entire shareholding in TTSL and TSL is unable to find a buyer for such shares, the Company is obligated to acquire the shareholding of the SP, at the higher of fair value or 50 percent of the subscription purchase price in proportion of the number of shares sold by the Company to the aggregate of the secondary shares sold to the SP, subject to compliance with applicable exchange control regulations, or should the SP decide to divest its entire shareholding in TTSL and TSL is unable to find a buyer for such shares and the SP divests the shares at a lower price, subject to compliance with applicable exchange control regulations, the Company is obliged to pay a compensation representing the difference between such lower sale price and the price referred to above in proportion of the number of shares sold by the Company to the aggregate of the secondary shares sold to the SP. Under the above mentioned aggrements with SP, TSL and TTSL have jointly and severally agreed to indemnify SP with the agreed limits against claims arising on account of any failure of certain warranties provided by TSL and TTSL to be true and correct in all respect (amount not determinable) and in respect of specifed contingent liabilities (Company''s share Rs. 31.10 crore). The Company is liable to reimburse TSL, on a pro-rata basis. 8. (a) In the previous year, the Company had provisionally determined the Statutory Appropriations and the adjustments to be made on Annual Performance Review as stipulated under the Multi Year Tariff Regulations, 2011 (MYT Regulation) for its operations in respect of the Mumbai Licensed Area. During the year ended 31st March, 2013, Maharashtra Electricity Regulatory Commission (MERC) has approved the Multi Year Tariff Business Plan of the Company''s Mumbai Licensed Area for the Second Control Period from FY 2012-13 to FY 2015-16 and directed the Company to submit its Annual Revenue Requirement (ARR) for FY 2011-12 as per old regulations i.e. MERC (Terms and Conditions of Tariff) Regulations, 2005. In view of the above, during the year, the Company has reversed revenue amounting to Rs. 155.00 crore accrued in the previous year in respect of its Mumbai Licensed Area as per the MYT Regulation. (b) The Appellate Tribunal for Electricity (ATE) in its Order dated 31st August, 2012, has allowed the Company''s claim regarding certain expenses/accounting principles which were disallowed/not recognised by MERC in earlier years in its true-up order. Accordingly, during the year, the Company has treated such expenses as recoverable and has recognised revenue of Rs. 142.00 crore. (c) During the year, pursuant to the favourable ATE Order dated 31st August, 2012, true-up order dated 15th February, 2012 and other favourable orders received by other regulated entities in the power sector within Maharashtra, the Company has recognised revenue of Rs. 172.00 crore in respect of earlier years towards carrying cost entitlement on the regulatory assets (net) carried in the books as at 31st March, 2013. (d) In the previous year, Jharkhand State Electricity Regulatory Commission (JSERC) had determined the Annual Revenue Requirement (ARR) for Units 2 and 3 at Jojobera for financial year 2011-12 by treating the entire capacity as regulated under JSERC (Terms and Conditions for Determination of Generation Tariff) Regulations, 2010. The Company, on the basis of legal opinions obtained, had appealed against the disallowances/deviations at the ATE. The ATE in its Order dated 20th September, 2012, has disallowed the Company''s claim. Accordingly, during the year, the Company has reversed revenue of Rs. 43.61 crore including Rs. 34.16 crore on account of previous year. (e) During the previous year, the Maharashtra Electricity Regulatory Commission (MERC) had completed truing-up for the financial years 2009 -10 and 2010 -11 and issued Tariff Orders. In these Tariff Orders, it had disallowed certain claims made by the Company amounting to Rs. 86.00 crore and Rs. 55.00 crore respectively. The Company has filed an appeal to the Appellate Tribunal for Electricity (ATE) against these disallowances. Based on the earlier favourable ATE Order on similar matters, the Company is confident of ATE allowing its claims and accordingly, the above disallowances have not been recognised in the financial results. 9. In the matter of claims raised by the Company on R-Infra, towards (i) the difference in the energy charges for the period March 2001 to May 2004 and (ii) for minimum off-take charges of energy for the period 1998 to 2000, MERC has issued an Order dated 12th December, 2007 in favour of the Company. The total amount payable by R-Infra, including interest, is estimated to be Rs. 323.87 crore as on 31st December, 2007. ATE in its Order dated 12th May, 2008 on appeal by R-Infra, has directed R-Infra to pay the difference in the energy charges amounting to Rs. 34.98 crore for the period March 2001 to May 2004. In respect of the minimum off-take charges of energy for the period 1998 to 2000 claimed by the Company from R-Infra, ATE has directed MERC that the issue be examined afresh and after the decision of the Hon''ble Supreme Court in the Appeals relating to the distribution licence and rebates given by R-Infra. The Company and R-Infra had filed appeals in the Hon''ble Supreme Court. The Hon''ble Supreme Court, vide its Order dated 14th December, 2009, has granted stay against ATE Order and has directed R-Infra to deposit with the Hon''ble Supreme Court, a sum of Rs. 25.00 crore and furnish bank guarantee of Rs. 9.98 crore. The Company had withdrawn the above mentioned sum subject to an undertaking to refund the amount with interest, in the event the Appeal is decided against the Company. On grounds of prudence, the Company has not recognised any income arising from the above matters. 10. Employee Benefits: (a) The Company makes contribution towards provident fund and superannuation fund to a defined contribution retirement benefit plan for qualifying employees. The provident fund is administered by the Trustees of Tata Power Consolidated Provident Fund and the Superannuation Fund is administered by the Trustees of Tata Power Superannuation Fund. Under the Schemes, the Company is required to contribute a specified percentage of salary to the retirement benefit schemes to fund the benefit. The Rules of the Company''s Provident Fund administered by a Trust require that if the Board of Trustees are unable to pay interest at the rate declared by the Central Government under para 60 of the Employees'' Provident Fund Scheme, 1952, then the shortfall shall be made good by the Company. Having regard to the assets of the fund and the return on the investments, the Company does not expect any shortfall in the foreseeable future. On account of Defined Contribution Plans, a sum of Rs. 28.54 crore (31stMarch,2012 - r26.99crore) has been charged to the Statement of Profit and Loss. (b) The Company operates the following unfunded/funded defined benefit plans: Unfunded: (i) Ex-Gratia Death Benefits (ii) Retirement Gifts (iii) Post Retirement Medical Benefits and (iv) Pension Funded: (i) Gratuity (c) The actuarial valuation of the present value of the defined benefit obligation has been carried out as at 31st March, 2013. The following tables set out the amounts recognised in the financial statements as at 31st March, 2013 for the above mentioned defined benefit plans: 11. In respect of the contracts pertaining to the Strategic Engineering Business and Project Management Services, disclosures required as per AS-7 (Revised) are as follows: (a) Contract revenue recognised as revenue during the year Rs. 298.66 crore (31st March, 2012 -Rs. 310.74 crore). (b) In respect of contracts in progress - (i) The aggregate amount of costs incurred and recognised profits upto 31st March, 2013 - Rs. 279.73 crore (31stMarch, 2012 -Rs. 254.50 crore). (ii) Advances and progress payments received as at 31st March, 2013 - Rs. 567.93 crore (31stMarch, 2012 -Rs. 313.01 crore). (iii) Retention money included as at 31st March, 2013 in Sundry Debtors - Rs. 12.53 crore (31stMarch, 2012 -Rs. 12.46 crore). (c) (i) Gross amount due to customers for contract work as a liability as at 31st March, 2013 - Rs. 327.46 crore (31stMarch, 2012 - Rs. 219.45 crore). (ii) Gross amount due from customers for contract work as an asset as at 31st March, 2013 - Rs. 39.26 crore (31st March, 2012 -Rs. 99.32 crore). 12. (a) Total number of electricity units sold and purchased during the year as certified by Management - 16,002 MUs (31st March, 2012 -15,240 MUs) and 1,378 MUs (31st March, 2012 -1,042 MUs). 13. Related Party Disclosures: Disclosure as required by Accounting Standard 18 (AS-18) - Related Party Disclosures are as follows: Names of the related parties and description of relationship: (a) Related parties where control exists: Subsidiaries 1) Af-Taab Investment Co. Ltd. (AICL) 2) Chemical Terminal Trombay Ltd. (CTTL) 3) Tata Power Trading Co. Ltd. (TPTCL) 4) Powerlinks Transmission Ltd. (PTL) 5) NELCO Ltd. (NELCO) 6) Maithon Power Ltd. (MPL) 7) Industrial Energy Ltd. (IEL) 8) Tata Power Delhi Distribution Ltd. (TPDDL) 9) Coastal Gujarat Power Ltd. (CGPL) 10) Bhira Investments Ltd. (BIL) 11) Bhivpuri Investments Ltd. (BHIL) 12) Khopoli Investments Ltd. (KIL) 13) Trust Energy Resources Pte. Ltd. (TERL) 14) Energy Eastern Pte. Ltd. ** (EEL) 15) Industrial Power Utility Ltd. (IPUL) 16) Tatanet Services Ltd.** (TNSL) 17) Tata Power Renewable Energy Ltd. (TPREL) 18) PT Sumber Energi Andalan Tbk. ** (SEA) 19) Tata Power Green Energy Ltd. ** (TPGEL) 20) NDPL Infra Ltd. ** (NDPLIL) 21) Dugar Hydro Power Ltd. (DHPL) 22) Tata Power Solar Systems Ltd. (TPSSL) (from 28th June, 2012) 23) Tata Power Jamshedpur Distribution Limited (TPJDL) (from 6th November, 2012) ** Through Subsidiary Companies. (b) Other related parties (where transactions have taken place during the year) : (i) Associates 1) Tata Projects Ltd. (TPL) 2) Yashmun Engineers Ltd. (YEL) (ii) Joint Ventures 1) Tubed Coal Mines Ltd. (TCML) 2) Mandakini Coal Company Ltd. (MCCL) 3) Dagachhu Hydro Power Corporation Ltd. (DHPCL) 4) Cennergi Pty. Ltd. (CPL) 5) OTP Geothermal Pte. Ltd. (OTPGL) (iii) Promoters holding together with its Subsidiary more than 20% Tata Sons Ltd. (c) Key Management Personnel Anil Sardana S. Ramakrishnan S. Padmanabhan 14. Derivative Instruments and Unhedged foreign currency exposures: (i) Derivative Instruments : The following derivative positions are open as at 31st March, 2013. These transactions have been undertaken to act as economic hedges for the Company''s exposures to various risks in foreign exchange markets and may/may not qualify or be designated as hedging instruments. The accounting for these transactions is stated in Note 2.1(n) and 2.1(o). Forward exchange contracts (being derivative instrument), which are not intended for trading or speculative purposes but for hedge purposes to establish the amount of reporting currency required or available at the settlement date of certain payables and receivables. 15. Disclosures as required by Accounting Standard 29 (AS-29) Provisions, Contingent Liabilities and Contingent Assets as at 31st March, 2013: 16. Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/ disclosure. Figures below Rs. 50,000 are denoted by ''*'' | |
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| Source : Dion Global Solutions Limited | |
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Please go through the link mentioned above.
C A Shah D J
USA
On Monday, 31 March 2014 4:23 AM, ajay pandey <caajaypandey@gmail.com> wrote:
Dear Sir,You are requested to provide me the notes of Accounts of Balance Sheet for Electricity Company.Thank & Regards:Ajay
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