07TH ANNUAL REPORT DMICDC GUNA POWER COMPANY LIMITEDdmicdc.com/Uploads/Files/32df_07thAnnualReport_Guna_FY... · 2018. 9. 14. · 1. As required by the Companies (Auditor’s Report)

07TH ANNUAL REPORT

DMICDC GUNA POWER

COMPANY LIMITED (CIN: U40109DL2010PLC202494)

2016-17

CONTENTS

S. No. Particulars Page No.

1. DIRECTORS’ REPORT 1-15

2. C&AG REPORT ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2017. 16-17

3. STATUTORY AUDITOR'S REPORT 18-23

4. FINANCIAL STATEMENTS 24-33

DIRECTOR’S REPORT

1

2

3

4

5

6

DMICDC Guna Power Company Limited | Director’s Report FY 16-17

7

d) the directors had prepared the annual accounts on a going concern basis; and

e) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

23. Acknowledgement:-

The Directors are thankful to the holding company i.e. Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC Ltd.). The Directors also place on record their sincere thanks to the shareholder for their continued support, co-operation and confidence in the Management of the Company.

For and on Behalf of the Board of Directors

sd/- sd/- Date: New Delhi Place: 13th May, 2017

(Ambalakat Mohan Menon) Director DIN: 02000616 Add: 8695, Sector C-8, Vasant Kunj, New Delhi - 110070

(Jeeniva Mahapatro) Director DIN: 07660746 Add: Dumduma Hausin Borda Khandagiri Khurda - 751019

7

8

9

10

11

12

13

14

VII. PENALTIES/PUNISHMENT/COMPOUNDING OFOFFENCES:

Type Section of the

Companies Act Brief

Description Details of Penalty/

Punishment/ Compounding

Authority[RD/ NCLT/ COURT]

Appeal made, if any (give

details)

A. COMPANY Penalty

NONE

Punishment

Compounding

B. DIRECTORS Penalty

NONE Punishment

Compounding

C. OTHER OFFICERS IN DEFAULT Penalty

NONE

Punishment

Compounding

For and on Behalf of the Board of Directors

sd/- sd/-

Date: New Delhi Place: 13th May, 2017

(Ambalakat Mohan Menon) Director DIN: 02000616 Add: 8695, Sector C-8, Vasant Kunj, New Delhi - 110070

(Jeeniva Mahapatro) Director DIN: 07660746 Add: Dumduma Hausin Borda Khandagiri Khurda - 751019

15

C&AG REPORT

16

17

STATUTORY

AUDITOR REPORT

INDEPENDENT AUDITOR’S REPORT To The Members of DMICDC GUNA POWER COMPANY LIMITED Report on the Financial Statements We have audited the accompanying financial statements of DMICDC GUNA POWER COMPANY LIMITED (“the Company”), which comprise the Balance Sheet as at 31st March 2017, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. Management’s Responsibility for the Financial Statements The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flow of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies(Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company’s Directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on financial statements. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2017, and its Loss and its cash flow for the year ended on that date. 18

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the “Annexure A”, a statement on the matters specified in the paragraph 3 and 4 of the Order.

2. As required by section 143(3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books;

(c) The balance sheet, the statement of profit and loss, and the cash flow statement dealt with by this Report are in agreement with the books of account;

(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

(e) On the basis of the written representations received from the directors as on 31st March, 2017 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2017 from being appointed as a director in terms of Section 164(2) of the Act;

(f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure-B”;

(g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. the Company does not have any pending litigations which would impact its financial

position;

ii. the Company does not have any long-term contracts including derivative contracts for which there were any material foreseeable losses;

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the year ended March 31st , 2017.

iv. The Company did not have any holdings or dealings in Specified Bank Notes during

the period from 8th November, 2016 to 30th December, 2016.

As required by Section 143(5) of the Act, we report that:

a) The Company has no Freehold/Leasehold property. .

b) In our opinion, there are no cases of waiver/ write off of debts/ loans/ interest.

c) The Company does not maintain any inventory and has not received any asset as gift from government or other authorities.

For GOYAL & GOYAL Chartered Accountants, FRN: 000066N sd/-

(MUKESH GOYAL) Partner Membership No.080494 Place: New Delhi Date: May 13th, 2017 19

Annexure A to the Auditors Report The Annexure referred in the Independent Auditors’ Report to the member of the Company on the financial statement for the year ended 31st March 2017, we report that:

(i) The Company does not have any fixed assets. Accordingly, the provisions of clause 3(i) of the Order are not applicable.

(ii) The Company does not have any inventory. Accordingly, the provisions of clause 3(ii) of the Order are not applicable.

(iii) According to the information and explanation given to us the Company has not granted any loans secured or unsecured to companies, firms, Limited Liability Partnership or other parties covered in register maintained under section 189 of Companies Act, 2013. Accordingly, provisions of clauses 3(iii) of the order are not applicable to the Company.

(iv) In our opinion and according to the information and explanations given to us the

Company has not made any loans, investments, guarantee, and security in terms of Section 185 and 186 of Companies Act 2013.

(v) In our opinion and according to the information and explanations given to us the

Company has not accepted any deposits. (vi) In our opinion and according to information and explanations given to us, the

maintenance of cost records has not been prescribed by the central government under Section 148 of the Companies Act, 2013 to the Company.

(vii) (a) As per the records of the Company and according to information and explanations

given to us, Company has been regular in depositing undisputed statutory dues including applicable provident fund, employee’s state insurance, income –tax, sales‐tax, service‐tax, custom duty, excise duty/cess, Value Added Tax and other statutory dues, with the appropriate authorities, wherever applicable.

(b) According to the information and explanations given to us , no undisputed statutory

dues were in arrears as at 31st March, 2017.

(viii) According to the information and explanations provided to us and based on our examination of the records of the company, the Company has not availed any loan or borrowing from the financial institution or banks, government or debentures‐holders. Accordingly, provisions of clause 3(viii) of the order are not applicable to the Company.

(ix) The Company did not raise any money by way of initial public offer or further public offer

(including debt instruments) and term loan. Accordingly, paragraph 3(ix) of the Order is not applicable.

(x) According to the information and explanation given to us, no material fraud by the

company or on the company by its officers or employees has been noticed or reported during the course of our audit.

(xi) According to the information and explanation provided to us and based on our

examination of the records of the Company, the Company has not paid/provided for any managerial remuneration. Accordingly, paragraph 3(xi) of the Order is not applicable.

(xii) According to the information and explanation provided to us and based on our

examination of the records of the Company, the Company is not a Nidhi Company Accordingly; paragraph 3(xii) of the Order is not applicable.

(xiii) According to the information and explanation provided to us and based on our

examination of the records of the Company all transactions with the related parties are in compliance with Section 177 and 188 of Companies Act, 2013 wherever applicable and the

20

details have been disclosed in the Financial Statements etc. as required by the applicable accounting standards.

(xiv) The Company has not made any preferential allotment/private placement of shares or fully

or partly convertible debentures during the year under review. Hence, the provisions of clause (xiv) of paragraph 3 of the Order are not applicable to the Company.

(xv) According to the information and explanations given to us and based on our examination

of the records of the company, the company has not entered into any non‐cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.

(xvi) The Company is not required to be registered under section 45 IA of the Reserve Bank of

India Act, 1934.

For GOYAL & GOYAL Chartered Accountants, FRN: 000066N

sd/-

(MUKESH GOYAL) Partner Membership No.080494 Place : New Delhi Date: May 13th, 2017

21

Annexure – B to the Auditors’ Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

We have audited the internal financial controls over financial reporting of DMICDC GUNA POWER COMPANY LIMITED (“the Company”) as of March 31, 2017 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (ICAI). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised

22

acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2017, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

For GOYAL & GOYAL Chartered Accountants, FRN: 000066N sd/- (MUKESH GOYAL) Partner Membership No.080494 Place: New Delhi Date: May 13th, 2017

23

FINANCIAL STATEMENTS

Note Rupees (₹) Rupees (₹) Rupees (₹) Rupees (₹)I. EQUITY & LIABILITIES

(1.) SHAREHOLDER'S FUNDS (a.) Share Capital 1 5,00,000 5,00,000

(b.) Reserves and Surplus 2 (2,82,679) 2,17,321 11,15,86,808 11,20,86,808

(2.) NON - CURRENT LIABILITIES - -

(3.) CURRENT LIABILITIES 3 (a.) Trade Payables (A) Total outstanding dues of micro enterprises and small enterprises - - (B) Total outstanding dues of creditors other than micro enterprises and small enterprises 48,125 48,984

48,125 48,984 (b.) Other Current Liabilities - 48,125 - 48,984

TOTAL 2,65,446 11,21,35,792

II. ASSETS (1.) NON - CURRENT ASSETS 4 (a.) Long - Term Loans and Advances 1,458 11,17,83,080

(b.) Other Non-Current Assets - 1,458 - 11,17,83,080

(2.) CURRENT ASSETS 5 (a.) Cash and Cash Equivalents 2,60,908 3,14,205

(b.) Other Current Assets 3,080 2,63,988 38,507 3,52,712

TOTAL 2,65,446 11,21,35,792

Significant Accounting Policies

Notes to the Financial Statements 1 - 18

As per our Report of even date attached

For GOYAL & GOYALChartered AccountantsFirm Reg. No. 000066N

Mukesh Goyal Jeeniva Mahapatra Ambalakat Mohan Menon(Partner) (Director) (Director)(Membership No. 080494) (DIN 07660746) (DIN 02000616)

Place : New DelhiDate :

For and on behalf of the Board

Figures as at 31-Mar-2016Figures as at 31-Mar-2017

DMICDC GUNA POWER COMPANY LIMITED

BALANCE SHEET AS AT 31ST MARCH, 2017

CIN: U40109DL2010PLC202494

24

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

13th May, 2017

For the For theYear ended Year ended

31-Mar-2017 31-Mar-2016Note Rupees (₹) Rupees (₹)

I. REVENUE FROM OPERATIONS Income from Operations - -

II. OTHER INCOME Interest on Bank Deposits 19,411 31,922 Interest on Income Tax Refund 118 125

III. TOTAL REVENUE (I+II) 19,529 32,047

IV. EXPENSES Administrative Expenses 6 1,09,128 96,500

V. TOTAL EXPENSES 1,09,128 96,500

VI. PROFIT/(LOSS) BEFORE TAX (III - V) (89,599) (64,453)

VII. TAX EXPENSES Current Income Tax - -

PROFIT/(LOSS) AFTER TAX FOR THE YEAR (VI - VII) (89,599) (64,453)

IX. Earnings per Equity Share of face value of ₹ 10 each - Basic and Diluted (1.79) (1.29)

Significant Accounting Policies

Notes to the Financial Statements 1 - 18






PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2017

DMICDC GUNA POWER COMPANY LIMITEDCIN: U40109DL2010PLC202494

25

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

13th May, 2017

A CASH FLOW FROM OPERATING ACTIVITIES:

Net Profit/(Loss) before Tax as per Profit & Loss Statement (89,599) (64,453)

Adjusted for:

Depreciation - -

Interest Income (19,529) (32,047)

Net Cash from Operating Activities before Extraordinary Item and Working Capital Change

(1,09,128) (96,500)

Extraordinary Item - -

Operating Profit before Working Capital changes (a) (1,09,128) (96,500)

Adjusted for:

(Increase)/Decrease in Trade & Other Receivables 35,427 (23,243)

Increase/(Decrease) in Trade Payables and Other Payables (859) 5,591

Refund/(Payment) of Taxes (including TDS) 1,734 2,359

Net Cash from/(used in) Operating Activities (b) 36,302 (15,293)

Net Cash from Operating Activities (a) + (b) (72,826) (1,11,793)

B CASH FLOW FROM INVESTING ACTIVITIES:

Interest Income 19,529 32,047

Net Cash from/(Used in) Investing Activities 19,529 32,047

C CASH FLOW FROM FINANCING ACTIVITIES: - -

D Net Increase/ (Decrease) in Cash and Cash Equivalents (53,297) (79,746)

E Opening Balance of Cash and Cash Equivalents 3,14,205 3,93,951

F Closing Balance of Cash and Cash Equivalents 2,60,908 3,14,205

(Refer Note No. 5)







Figures as at 31-Mar-2016

Figures as at 31-Mar-2017

Rupees (₹)Rupees (₹)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2017

CIN: U40109DL2010PLC202494

26

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

13th May, 2017

SIGNIFICANT ACCOUNTING POLICIES

a)

b)

c)

i.) Fixed assets are capitalised at cost.

ii.) Depreciation on Fixed Assets is provided to the extent of depreciable amount on the written down value methodbased on the useful life of the assets as prescribed in Schedule-II to the Companies Act, 2013. Depreciation onadditions to Fixed Assets or on sale of Fixed Assets is calculated prorata from the date of such addition or up tothe date of such sale, as the case may be.

d) Capital Reserve

e)

f)


Basis for preparation of Financial Statements

These financial statements have been prepared to comply with the Generally Accepted Accounting Principles in India(Indian GAAP), including the Accounting Standards notified under the relevant provisions of the Companies Act,2013.

The financial statements are prepared on accrual basis under the historical cost convention. The accounting policiesadopted in the preparation of the financial statements are consistent with those followed in the previous years.

Fixed Assets

Long-Term Investments

Use of Estimates

The preparation of financial statements requires the management of the Company to make certain estimates andassumptions that affect the reported amount of assets and liabilities, disclosure of contingent liabilities on the date ofthe financial statements and the reported amount of revenues and expenses during the reporting period. Differencebetween the actual results and estimates are recognised in the period in which the results are known / materialised.

Tangible Assets

Advances paid for the project site of the company by Delhi Mumbai Industrial Corridor Development CorporationLimited, 100% holding company of the reporting company, out of its Project Development Funds (PDF) received asgrant from GoI are shown under the "Capital Reserves" in the Balance Sheet. In case any part of the fund becomesrefundable at any future date it will be reduced from the Capital Reserves.

CIN: U40109DL2010PLC202494

Long-term investments are shown at actual cost including the cost incidental to acquisition.

Revenue Recognition

Income is recognised on accrual basis.

27

SIGNIFICANT ACCOUNTING POLICIES

DMICDC GUNA POWER COMPANY LIMITEDCIN: U40109DL2010PLC202494

g)

h)

i)

A provision is recognised in the accounts when there is a present obligation as a result of past event(s) and it isprobable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made.Provision are not discounted to their present value and are determined based on the best estimate required to settlethe obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect thecurrent best estimates.

Contingent liabilities are disclosed unless the possibility of outflow of resources is remote.

Contingent assets are neither recognised nor disclosed in the financial statements.

Deferred income tax reflect the current period timing differences between the taxable income and the accountingincome for the period and reversal of timing differences of earlier years / period. Deferred tax assets is recognisedonly to the extent that there is reasonable certainty that sufficient future income will be available except that deferredtax assets, in case there are unabsorbed depreciation or losses, are recognised if there is virtual certainity thatsufficient future taxable income will be available to realise the same.

Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantivelyenacted by the Balance Sheet date.

Tax expense comprises of current tax and deferred tax. Current tax is measured at the amount expected to be paid tothe tax authorities using the applicable tax rates.

Expenses in foreign currency / transactions are accounted at the prevailing market rate of exchange on the date oftransaction and income in foreign currencies are accounted at the value recovered from these currencies.

Transactions in Foreign Exchange

Taxes on Income

Provision, Contingent Liabilities and Contingent Assets

28

As at 31-Mar-2017 As at 31-Mar-2016Rupees (₹) Rupees (₹)

NOTE 1 : SHARE CAPITAL

1.0 AUTHORISED SHARE CAPITAL

50,000 Equity Shares of ₹10/- each with voting rights 5,00,000 5,00,000

5,00,000 5,00,000

ISSUED, SUBSCRIBED AND PAID UP:

50,000 Equity Shares of ₹10/- each with voting rights 5,00,000 5,00,000

5,00,000 5,00,000

1.1 The reconciliation of the number of shares outstanding is set out below:

No. of Shares Rupees (₹)

No. of Shares Rupees (₹)

Equity Shares at the beginning of the year 50,000 5,00,000 50,000 5,00,000

Add: Shares issued during the year - - - - Equity Shares at the end of the year 50,000 5,00,000 50,000 5,00,000

1.2 Details of Shareholder's Holding more than 5% Shares % of Holding No. of Shares

% of Holding No. of Shares

Delhi Mumbai Industrial Corridor Development Corporation Limited 100 50,000 100 50,000

(Through its CEO & Managing Director / Nominees)

1.3

NOTE 2 : RESERVES AND SURPLUS

2.0 CAPITAL RESERVESAs per last Balance Sheet 11,17,79,888 11,17,79,888

Amount adjusted against the surrender of land to Industrial Infrastructure Development Corporation (Gwalior) M.P. Ltd. (11,17,79,888) -

(a) - 11,17,79,888

2.1 Profit and Loss Account(Loss) as per last Balance Sheet (1,93,080) (1,28,627) Profit / (Loss) after tax for the year (89,599) (64,453)

(b) (2,82,679) (1,93,080)

Total (a + b) (2,82,679) 11,15,86,808

NOTE 3 : CURRENT LIABILITIES

3.0 Trade Payable - Total Outstanding Dues of Micro Enterprises and Small Enterprises - -

- -

Delhi Mumbai Industrial Corridor Development Corporation Limited (Holding Company)

5,000 5,000

Others 43,125 43,984 48,125 48,984


NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2017

The company has one class of equity shares. Each shareholder is eligible for one vote per share held. The shareholders have nodifferential rights with respect to distribution of dividend and repayment of capital.

CIN: U40109DL2010PLC202494

- Total Outstanding Dues of Creditors other than Micro Enterprises

29

As at 31-Mar-2017 As at 31-Mar-2016Rupees (₹) Rupees (₹)

NOTE 4 : NON - CURRENT ASSETS

4.0 Long - Term Loans and Advances - Unsecured, considered good Capital Advances - 11,17,79,888 Advance Tax /Tax Deducted at Source 1,458 3,192

1,458 11,17,83,080

NOTE 5 : CURRENT ASSETS

5.0 Cash and Cash Equivalents - Cash and Cash Equivalents*

Cash in Hand 271 403 Balance with Bank in Current Account 19,676 11

19,947 414 - Other Bank Deposits

Balance in Deposit Account** 2,40,961 3,13,791

Cash and Cash Equivalents as per AS-3 2,60,908 3,14,205

*

** Includes deposits of Nil (Previous Year Nil) with maturity of more than 12 months.

5.1 Other Current Assets Interest Accrued on Bank Deposits 3,080 38,507

3,080 38,507

NOTE 6 : ADMINISTRATIVE EXPENSES

Auditor's Remuneration 25,875 25,875 Director's Sitting Fees 20,000 20,000 Professional & Consultancy Charges 23,289 30,664 Other Expenses* 39,964 19,961

1,09,128 96,500

* Including an amount of ₹ 5,000/- (Previous Year - Rs. 5,000/-) apportioned towards general and other administrativeexpenses incurred by Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC), the holdingcompany.



Cash and Cash Equivalents include deposits maintained by the Company with banks, which can be withdrawn by theCompany at any point of time without prior notice or penalty on the principal.

CIN: U40109DL2010PLC202494

30

OTHER NOTES TO ACCOUNTS

7

8

9

As at 31-Mar-2017

As at 31-Mar-2016

Rupees (₹) Rupees (₹) 10

I Contingent Liabilities - -

II Commitments-

- 58,83,152

11 Earnings and Expenditure in Foreign CurrencyI Earnings in Foreign Exchange - - II Expenditure in Foreign Currency - -

12 Payments to the Auditors(including service tax)

I Audit Fees 25,875 25,875 II For Other Services Nil Nil

25,875 25,875

In the opinion of the Directors of the company and to the best of their knowledge and belief, the value on realisation ofcurrent assets, loans & advances in the ordinary course of business would not be less than the amount at which they arestated in the Balance Sheet.



The Company is a Small & Medium Sized Company (SMC) as defined in the General Instructions in respect ofAccounting Standards notified. Accordingly, the Company has complied with the Accounting Standards as applicable to aSmall & Medium Sized Company.

Industrial Infrastructure Development Corporation (Gwalior) M.P. Limited (IIDC) through "Letter of Intent for Allotmentof Land" had alloted land measuring 89.874 hectares at the total cost of ₹ 11,76,63,040/- for setting up of the powerproject. Out of the total amount, sum of ₹ 11,17,79,888/- was released during the financial year 2010-11 and 2011-12 byDelhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC) (holding company), on behalf of thereporting company out of its Project Development Funds (PDF) provided as grant by Government of India.

The Board of Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC) in its 42nd meeting heldon 16th November, 2016 decided to return the land allotted. DMICDC vide letter dated 3rd December, 2016 returned thesame to IIDC. IIDC conveyed that the proposal for seeking approval of the Competent Authority is in progress and shallbe conveyed after due approval. The necessary adjustments have been made in the Books of Accounts of the Company.

CIN: U40109DL2010PLC202494

Estimated Amount of contracts remaining to be executed on Capital Account and not provided for

Contingent Liablilties and Commitments (to the extent not provided for)

31




CIN: U40109DL2010PLC202494

13 Earnings Per Share

Unita Rupees (₹) (89,599) (64,453)

b Number 50,000 50,000

c Basic/Diluted Earnings per share (a/b) Rupees (₹) (1.79) (1.29) d Face Value per Equity share Rupees (₹) 10.00 10.00

14 Segment Reporting

15 Related Party Disclosures

I

Holding CompanyDelhi Mumbai Industrial Corridor Development Corporation Ltd. Yes Yes

Group CompanyDMICDC Indapur Power Company Limited Yes YesDMICDC Vaghel Power Company Limited Yes YesDMICDC Ville Bhagad Power Company Limited Yes YesDMICDC Neemrana Solar Power Company Limited Yes Yes

II The nature and volume of transactions during the period with the above related party were as follows:

Holding Company Group Company

i.) Transactions during the period- 5,000 Nil

(5,000) (Nil)

ii.) Outstanding Balances 5,000 Nil(5,000) (Nil)

As the Company operates in a single business and geographical segment, the reporting requirements for primary andsecondary segment disclosures prescribed by AS 17 are not applicable.

Particulars

As per the Accounting Standard on 'Related Party Disclosure' (AS-18) issued by the Institute of Chartered Accountantsof India, the related parties are as follows :

Reimbursement of Expenses

Weighted Average of Number of EquityShares used as a denominator for calculatingEPS

Basic earnings per equity share have been computed by dividing net profit after tax by the weighted average number ofequity shares outstanding for the period.

Net Profit/(Loss) after Tax attributable toEquity shareholders

32




CIN: U40109DL2010PLC202494

16

Closing Cash in hand as on 08.11.2016Add: Permitted ReceiptsLess: Permitted PaymentsLess: Amount deposited in BanksClosing Cash in hand as on 30.12.2016

17

18 Figures for the Previous Year's have been regrouped / recast to correspond with Current Year's presentation.





For and on behalf of Board

- -

Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC), the holding company has passed aresolution by circulation dated 21st April, 2017 to initiate the process to strike off the name of the Company from theRegister of Companies maintained by the Registrar of Companies as per the provisions of Section 248 of the CompaniesAct, 2013 read with the Companies (Removal of names of Companies from the Register of Companies) Rules, 2016.

Other Denomination Notes (Rs.)271 - - - 271

Total (Rs.)271 - - - 271 -

Details of Specified Bank Notes (SBN) held and transacted by the Company during the period from 8th November,2016 to 30th December, 2016:

- -

SBNs (Rs.)

33

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

sd/-

Admin

Text Box

13th May, 2017

CIN: U40109DL2010PLC202494

Registered Office: Room No. 341B, 03rd Floor, Main Building, Hotel Ashok, Diplomatic Enclave, 50B,

Chanakyapuri, New Delhi - 110021.

Phone No. +91 1126118884-8

Documents

07TH ANNUAL REPORT DMICDC GUNA POWER COMPANY LIMITEDdmicdc.com/Uploads/Files/32df_07thAnnualReport_Guna_FY... · 2018. 9. 14. · 1. As required by the Companies (Auditor’s Report)