ch oh,iq lh. BRAHMAPUTRA VALLEY FERTILIZER CORPORATION LIMITED czãiq=k osyh iqfvzykbtk+j dkwikszjs'ku fyfevsm

Transcription

1 ch oh,iq lh czãiq=k osyh iqfvzykbtk+j dkwikszjs'ku fyfevsm

2 Shri N.K. Sh Director (Production) & CMD Addl. Chrge performing Sheedi Trpn on Republic Dy Jh,u- ds- lkgk] funs'kd ¼mRiknu½,o v/;{k&lg izc/k funs'kd vfrfjdr izhkkj] x.kr= fnol ij 'kghnh riz.k djrs gq, Shri N.K. Sh, Director (Production) & CMD Addl. Chrge Slute the Ntionl Flg on Republic Dy Jh,u- ds- lkgk] funs'kd ¼mRiknu½,o v/;{k&lg izc/k funs'kd vfrfjdr izhkkj] x.kr= fnol ij jk"vªh; /ot dks lykeh nsrs gq,

3 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 10oh okf"kzd fjiksvz 10 th ANNUAL REPORT czãiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ithñr dk;kzy; % uke:i] ikslv vkwfql % iczriqj] ftyk fmczwx<+ & ] vle Regd. Office : Nmrup, P.O. : Prbtpur, Dist. Dibrugrh , Assm 1

4 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Jh,u-ds- lkgk] funs'kd ¼mRiknu½,o vè;{k lg izcè k funs'kd ¼vfrfjDr izhkkj½ fo'o i;kzoj.k fnol ds volj ij choh,qlh,y uke:i es o`{kkjksi.k djrs gq, Shri N.K. Sh, Director (Production) & CMD (Additionl Chrge) plnting tree on the occsion of World Environment Dy in BVFCL, Nmrup Jh,u-ds- lkgk] funs'kd ¼mRiknu½,o vè;{k lg izcè k funs'kd ¼vfrfjDr izhkkj½ fo'o i;kzoj.k fnol ds volj ij izf'k{k.k dsunz] choh,qlh,y] uke:i es Hkk"k.k nsrs gq, Shri N.K. Sh, Director (Production) & CMD (Additionl Chrge) speking on the Eve of World Environment Dy in BVFCL Trining Centre, Nmrup 2

5 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fo"k; lwph CONTENTS i`"b No. funs'kd e.my izc/ku ny ukxfjd?kks"k.kk&i= vè;{k,o izcèk funs'kd dk Hkk"k.k okf"kzd vkelhkk dh lwpuk funs'kdks dh fjiksvz izc/ku ppkz vksj fo'ys"k.k fjiksvz ÅtkZ lj{k.k] izks ksfxdh viukus vksj fons'kh eqnzk vtzu vksj O;; ds fooj.kks dk myys[k v-tk-] v-t-tk-] vu; finm+k oxz,o 'kkjhfjd :i ls fodykx dk izfrfufèkro n'kkzus okyk okf"kzd fooj.k dkiks ZjsV xous l vkpkj&lfgrk ds vuqikyu dh?kks"k.kk 'ks;jgksymjks dh ys[kk&ijh{kd fjiksvz ys[kkvks ij Hkkjrh; fu;=d vksj egkys[kkdkj dh fviif.k;k lkfof/kd ys[kk&ijh{kdks dh fviif.k;ks ij izcèku dk mrrj rqyu&i= ykhk,o gkfu ys[kk udnh izokg fooj.k fvii.kh 1 ls 2 fu"iknu,d ut+j es Bord of Directors 5 Mngement Tem 6 Citizen Chrter 8 Speech of Chirmn nd Mnging Director 11 Notice of Annul Generl Meeting 17 Directors' Report 19 Mngement Discussion nd Anlysis Report 27 Disclosure of prticulrs with respect to conservtion of energy, Technology Absorption nd Foreign Exchnge Erning nd Outgo 55 Annul sttement showing representtion of SCs, STs, OBCs nd PHS 58 Corporte Governnce 60 Declrtion of Complince of Code of Conduct 79 Auditor's Report to the Shreholders 94 Comments of the Comptroller nd Auditor Generl of Indi on the Accounts 108 Mngement Reply on the observtions of Sttutory Auditors 110 Blnce Sheet 132 Profit & Loss Account 134 Csh Flow Sttement 136 Note 1 to Performnce t glnce 173 3

6 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm czãiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ithñr dk;kzy; ikslv % iczriqj] uke:i & ] ftyk & fmcz wx<+ ¼vle½ nwjhkk"k % 0374& ( QSDl % 0374& bz&esy % b v f c l n b s n l. i n osclkbv irk % w w w. b v f c l. c o m Registered Office P.O. : Prbtpur, Nmrup , District- Dibrugrh (Assm) Phone : ;Fx : Emil : b v f c l n b s n l. i n Website ddress: bdkbz UNIT uke:i ¼vle½ Nmrup (Assm) fof/kd lykgdkj LEGAL ADVISORS esllz LVhy,M gsmks] fmcz wx<+ M/s Steel & Hdow, Dibrugrh csdlz BANKERS LVsV csd vkwq ifv;kyk Hkkjrh; LVsV csd ;wdks csd flfmdsv csd itkc us'kuy csd csd vkwq bfm;k Stte Bnk of Ptil Stte Bnk of Indi UCO Bnk Syndicte Bnk Punjb Ntionl Bnk Bnk of Indi 4

7 funs'kd emy BOARD OF DIRECTORS czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Jh,u-ds- lkgk funs'kd ¼mRiknu½,o vè;{k,o izcèk funs'kd ¼vfrfjDr izhkkj½ Shri N.K. Sh Director (Production) & Chirmn & Mnging Director (Additionl Chrge) Jh fot; jtu flg funs'kd ¼moZjd½ ¼ ls½ Shri Vijy Rnjn Singh Director (Fertilizer) (From ) Jh jktho dqekj mi lfpo ¼,,M oh½] mozjd fohkkx ¼ ls½ Shri Rjiv Kumr Deputy Secretry (A&V), DOF (From ) Jh lh-oh- Ñ".kk funs'kd ¼Lor=½ ¼ ls½ Shri C.V. Krishn Director (Independent) (From ) 5

8 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kd e.my 1- Jh jkekj; flg v/;{k,o izcu/k funs'kd ¼ rd½ 2- Jh,u-ds- lkgk funs'kd ¼mRiknu½,o lh,emh ¼*½ 3- Jh uhjt fl?ky funs'kd ¼ih,l;w½] mozjd fohkkx ¼ ls rd½ 4- Jh fot; jtu flg funs'kd ¼moZjd½ ¼ ls½ 5- Jh euh"k f=ikbh mi lfpo ¼moZjd½] mozjd fohkkx ¼ rd½ 6- Jherh yfyrk nkl mi lfpo ¼,,M oh½] mozjd fohkkx ¼ rd½ 7- Jh jktho dqekj mi lfpo ¼,,M oh½] mozjd fohkkx ¼ ls½ 8- Jh lh-oh- Ñ".kk funs'kd ¼Lor=½ ¼ ls½ (*) vè;{k,o izcèk funs'kd] choh,qlh,y dk vfrfjdr izhkkj ls BOARD OF DIRECTORS 1. Shri Rmshry Singh Chirmn nd Mnging Director (Upto ) 2. Shri N.K. Sh Director (Production) & CMD (*) 3. Shri Neerj Singhl Director (PSU), DOF (From to ) 4. Shri Vijy Rnjn Singh Director (Fertilizer) (From ) 5. Shri Mnish Tripthi Deputy Secretry (F), DOF (Upto ) 6. Smt. Llith Ds Deputy Secretry (A&V), DOF (Upto ) 7. Shri Rjiv Kumr Deputy Secretry (A&V), DOF (From ) 8. Shri C.V. Krishn Director (Independent) (From ) (*) dditionl chrge of the post of CMD, BVFCL from deiuh lfpo Jh vkj-ds- xqirk COMPANY SECRETARY Shri R.K. Gupt eq[; lrdzrk vf/kdkjh Jh nhid dqekj] funs'kd ¼lpyu½] mozjd fohkkx CHIEF VIGILANCE OFFICER Shri Deepk Kumr, Director (Movement), DOF 6

9 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm uke:i bdkbz Jh,l-ds- flg & egkizc/kd ¼izpkyu½ NAMRUP UNIT Shri S.K. Singh - Generl Mnger (Opertions) Jh,l,ch,e lqyrku & egkizc/kd ¼rduhdh vksj ekuo llkèku½ Shri SABM Sultn - Generl Mnger (Technicl & HR) Jh okbz-ds- xks;y & mi egkizc/kd ¼foi.ku½ Jh,l-Mh- flg & mi egkizc/kd ¼,e,e½ Shri Y.K. Goel - Dy. Generl Mnger (Mrketing) Shri S.D. Singh - Dy. Generl Mnger (MM) Jh fcuksn dqekj & mi egkizc/kd ¼;kf=d½ Shri Binod Kumr - Dy. Generl Mnger (Mech) lkfof/kd ys[kk&ijh{kd esllz th- pks/kjh,m,lksfl,v~l] lunh ys[kkdkj] flfyxqm+h ¼if'pe cxky½ STATUTORY AUDITORS M/s. G. Choudhury & Assocites, Chrtered Accountnts, Siliguri (West Bengl) ykxr ys[kk&ijh{kd esllz lqhknzk nrr,.m,lksfl,v~l ykxr ys[kkdkj] nqfy;ktku COST AUDITORS M/s. Subhdr Dutt & Assocites Cost Accountnts, Dulijn 7

10 q czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ukxfjd?kks"k.kk&i= izlrkouk ;g?kks"k.kk&i= gekjs y{;] mìs';ks ] ewy;ks ] opuc)rkvks ] ekudks vksj vu; O;fDr;ks ls gekjh vis{kkvks dh?kks"k.kk gsa y{; n{krkiwozd] fdqk;rh vksj i;kzoj.k vuqdwy rjhds ls mozjdks dk mriknu djuka ykhk dekus okys m e ds :i es Lo; dks LFkkfir djuka ns'k ds j.kuhfrd :i ls egroiw.kz iwoks ZRrj Hkkxks ds pgq eq[kh fodkl ds fy, dk;z djuka vu; vks ksfxd mriknks ds mriknu es fofo/krk ykuka {ks= es lrqfyr vkffkzd fodkl iznku djuka mìs'; choh,qlh,y ds mìs'; fueufyf[kr gs% ÅtkZ cpr ds fy, ;kstukvks dks viukuk vksj mugs ykxw djuka l;= izpkyu lqj{kk es fujrj lq/kkj djuka {kerk mi;ksx ds mpp Lrj dks izkir djuka diuh ds ekuo llk/kuks dh xq.korrk es yxkrkj lqèkkj djuk vksj lxbukred fodkl dks c<+kok nsuka ewy; ge vius dk;ks Z vksj drzo;ks dks iwjh fu"bk CITIZENS' CHARTER Premble This Chrter is declrtion of our mission, objectives, vlues, commitments, stndrds nd our expecttions from others. Mission To produce fertilizer efficiently, economiclly nd in environment friendly mnner. To estblished itself s profit mking enterprises. To work for ll round improvement of the strtegiclly importnt North Estern prts of the country. To diversify into production of other industril products. To provide blnced economic growth in the region. Objective BVFCL hs the following objectives: To tke up nd implement schemes for energy svings. To continuously improve plnt opertion sfety. To ttin high level of cpcity utilistion. To continuously upgrde the qulity of humn resources of the compny nd promote orgniztionl development. Vlues We shll crry out our functions nd duty with utmost : Sincerity 8

11 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm xfr lekurk bzekunkjh ikjnf'kzrk vksj fcuk fdlh Hk; ;k i{kikr ds lkfk djs xsa ekud geus vkids lkfk fd, x, lhkh ysu&nsu es vius ekud fu/kkzfjr fd, g SA ge opu nsrs gs fd lhkkfor ;k vokfnr foyc gksus dh flfkfr es ge lcf/kr ikvhz dks bldh lwpuk rqjr ns xs sa gekjh opuc)rk, ge fueufyf[kr ds fy, opuc) gs% fof'kf"v;ks ds vuq:ik xq.korrk okys mozjdks dk mriknu vksj forj.k djuka mihkksdrk lrqf"v lqfuf'pr djus ds fy, vius mozjdks dk le; ij forj.k djuka izks ksfxdh dks yxkrkj muur cukuk vksj ekuo llkèkuks dk fodkl djuka fu/kkzfjr lqj{kk] LokLF; vksj i;kzoj.kh; lqj{kk ekudks dk dm+kbz ls ikyu djuka dks iznku dh xbz lsok, diuh }kjk mrikndrk es lq/kkj djus ds mìs'; ls xzke@cykwd Lrj ij fdlkuks dks mozjdks ds lrqfyr mi;ksx ds lc/k es fu%'kqyd izf'k{k.k fn;k tkrk gsa diuh es fueufyf[kr f'kdk;r fuokj.k r= dh LFkkiuk dh xbz gs% 1- dezpkjh f'kdk;r fuokj.k lfefr 2- mi&uxjh; dy;k.k lfefr 3- lwpuk dk vf/kdkj vf/kfu;e] 2005 ds vurxzr tkudkjh nsuk Speed Equity Integrity Trnsprency nd without ny fer or fvour. Stndrds We hve set up upon ourselves the stndrds for ll trnsctions with you. We undertke tht in cse of likely or inevitble dely, we shll promptly communicte the sme to the prty concerned. Our Commitments We commit to: Produce nd distribute qulity fertilizers conforming to the specifictions. Timely distribution of our fertilizers to ensure consumer stisfction. Continul upgrdtion of Technology nd Development of Humn Resources. Strict dherence to the prescribed Sfety, Helth nd environmentl Protection Stndrds. SERVICE EXTENDED TO THE CUSTOMERS/CITIZENS' Trining is imprted to the frmers free of cost by the Compny in villge/block level for blnced use of fertilizers for improving productivity. FOLLOWING GRIEVANCES REDRESSAL MACHANISM HAS BEEN CONSTITUTED IN THE COMPANY. 1. Employees Grievnce Redressl Committee 2. Township Welfre Committee 3. Informtion under the Right to Informtion Act,

12 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 4- xzkgd f'kdk;r fuokj.k izdks"b 5- fj'or[kksjh ;k forrh; vfu;ferrkvks ls lcf/kr f'kdk;rks ds fuokj.k ds fy, turk diuh ds eq[; lrdzrk vf/kdkjh ls lidz dj ldrh gsa f'kdk;rks ds fuivku ds fy, le;&lhek d- vkosnd dks jlhn mrrj nsuk & 2 lirkg [k- lcf/kr izkf/kdkjh dks f'kdk;r vkosnu dk vxz s"k.k & 3 lirkg x- f'kdk;r ;kfpdk dk vfure fuivku ls vis{kk, & 2 ekg ge ls ;g vis{kk djrs gs fd os diuh ds lkfk ysu&nsu ds nksjku fcuk fdlh izykshku ds vius vf/kdkjks vksj nkf;roks dk ;qfdrlxr,o rrijrk ls fuozgu djs rfkk fdlh rqpn eqìs dks ugh mbk,a d- xzkgdks }kjk [kjhns x, mrikn] mudh xq.korrk vksj otu] vkfn ds ckjs es le; ls lwpuk nsuka 4. Customer Grievnces Redressl Cell 5. Complints involving redressl for bribes or finncil irregulrities, public my pproch to the Chief Vigilnce Officer of the Compny TIME LIMIT FOR DISPOSAL OF GRIEVANCES. Issue of cknowledgement/interim reply to petitioner 2 weeks b. Forwrding of the grievnce petition to the concerned uthority 3 weeks c. Finl disposl of the grievnce petition 2 months EXPECTATION FROM CUSTOMERS/ CITIZENS We expect from the customers / citizens to be resonble nd prompt in exercising your rights nd obligtions in ll your trnsctions with the compny without extending inducement of ny kind nd not rising ny frivolous issues.. Timely feed bck of informtion bout the product purchsed by the customer, its qulity, weight, etc. [k- vkxs lq/kkj ds fy, lq>ko nsuka b. Suggestion for further improvement. 10

13 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm choh,qlh,y dh 10oh okf"kzd vke csbd es vè;{k,o izc/k funs'kd dk Hkk"k.k eq>s vkidh diuh dh 10oh okf"kzd vke csbd es vki lhkh dk Lokxr djrs gq, cm+h izlkuurk gks jgh gsa es mu lhkh 'ks;j/kkjdks dk Hkh gkfnzd vfhkunu djrk gw tks vkt ;gk miflfkr ugh gks lds gsa vki lhkh dks forrh; o"kz 2011&12 dh okf"kzd fjiksvz dh izfr;k izkir gks xbz gks xha eq>s meehn gs fd vkius okf"kzd fjiksvz dks i<+ fy;k gksxk vksj bls i<+k gqvk eku fy;k tkrk gsa esus 1 fnlcj 2011 ls vkidh diuh ds v/;{k,o izc/k funs'kd dk vfrfjdr izhkkj lhkkyk FkkA diuh ds fy, forrh; o"kz 2011&12 dkqh izhkko'kkyh o"kz ADDRESS OF CHAIRMAN & MANAGING DIRECTOR AT THE 10TH ANNUAL GENERAL MEETING OF BVFCL It gives me immense plesure to extend wrm welcome to ll of you t the 10th Annul Generl Meeting of your Compny. I lso extend my good wishes to those of our shreholders who could not be present here tody. By now you hve received copies of the Annul Report for the finncil yer I ssume you hve gone through the Annul Report nd consider it s red. I hd tken over the dditionl chrge of Chirmn nd Mnging of your compny w.e.f. 1st December, The fiscl yer hs been n eventful yer 11

14 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm jgk ftlds nksjku diuh dks nh?kkzof/k es cuk, j[kus ds fy, eq[; dne mbk, x,a geus o"kz 2011&12 ds nksjku uke:i&aa l;=ks ds izeq[k iqu#)kj dk dk;z lqyrkiwozd iwjk dj fy;k gsa blds ifj.kkelo:i nksuks bdkb;ks es de ÅtkZ [kir ij LFkk;h mriknu izkir fd;k x;k gsa ;kstuk vk;ksx }kjk uke:i es 8-64 yk[k eh-vu ;wfj;k dk izfro"kz mriknu djus dh {kerk okys,d u, czkmuqhym veksfu;k&;wfj;k l;= ¼uke:i&IV½ dh LFkkiuk ds izlrko ij fopkj fd;k x;ka mugks us ;g lykg nh Fkh fd Hkkjr ljdkj ls ctv lgk;rk fy, fcuk ykhk vftzr djus okyh lkoztfud {ks= dh {ks= ls izlrkfor ifj;kstuk ds fy, l;qdr m e Hkkxhnkj cuus vksj muls visf{kr bfdovh fuf/k;ks ds fy, v'knku ysus ds lqfuf'pr izlrko dh lhkko;rk dh ryk'k dh tk,a rnuqlkj] mozjd fohkkx es fnyplih j[kus okyh ikfvz;ks ds lkfk csbds dh xbz A esllz vkw;y bfm;k fyfevsm rfkk,uvkj,y ¼uqekyhx<+ fjqkbujh fyfevsm½ us l;qdr m e es 26% vksj 11% dh lhek rd bfdovh Hkkxhnkjh es viuh bpnk n'kkzbz gsa vle ljdkj us mdr l;qdr m e es 11% bfdovh 'ks;j ysus ds fy, viuh flfkfr dh iqf"v dh gsa esllz th,u,qlh ¼xqtjkr ueznk osyh QfVZykbtj diuh fyfevsm½ us l;qdr m e es bfdovh Hkkxhnkjh es viuh #fp fn[kykbz gsa gky es esllz ÑHkdks us uke:i es ubz mozjd ifj;kstuk es Hkh viuh #fp vfhko;dr dh gsa ;kstuk vk;ksx us fueufyf[kr ds fy, ^ls)kfrd^ vuqeksnu ¼i= l- vkbz,m,e&4¼12½@12@2007 fnukd ½ iznku fd;k gs% for the compny when mjor steps could be tken for long term sustennce of the compny. We could complete successfully mjor renovtion jobs for Nmrup-II nd Nmrup-III Plnts during the yer This resulted in chievement of sustined production in both the units with lower energy consumption. Proposl for setting up new Brown field Ammoni- Ure Plnt (Nmrup-IV) t Nmrup of cpcity to produce 8.64 Lkh MT of Ure per nnum ws considered by the Plnning Commission. They dvised to explore the possibility of firming up the proposl seeking contribution from profit mking CPSUs/ Privte Sector for the required equity funds to become Joint Venture prtners for the proposed project without ny budgetry support from Government of Indi. Accordingly meetings of interested prties were held t Deprtment of Fertilizers. M/s Oil Indi Ltd nd NRL (Numligrh Refinery Ltd) hve shown willingness for equity prticiption to the extent of 26% & 11% in JV. The Government of Assm hs lso firmed up its position to tke 11% equity shre in the sid JV. Contribution of BVFCL will be in the form of existing ssets. M/s GNFC (Gujrt Nrmd Vlley Fertilizer Compny Ltd) hs shown interest in equity prticiption in the JV. Recently, M/s. KRIBHCO hs lso shown their interest in the new fertilizer project t Nmrup. Plnning Commission hs ccorded 'In-principle' pprovl (letter no.i&m-4(12)/12/2007 dted ) for the following: (i) choh,qlh,y] uke:i es,d u, czkmuqhym veksfu;k ;wfj;k ifjlj ¼pkSFkh bdkbz½ dh LFkkiuk djuka (i) Instlltion of New Brownfield Ammoni- Ure complex (4th unit) t BVFCL, Nmrup. (ii) futh {ks= dh difu;ks ls bfdovh Hkkxhnkjh ds fy, [kqyh cksyh yxkuk vksj #fp dh vfhko;fdr ysuka (ii) Open Bidding nd Expression of Interest for equity prticiption from privte sector compnies. 12

15 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm diuh o"kz 2011&12 ds nksjku ekewyh izpkyu ykhk vftzr dj ldh FkhA rfkkfi] o"kz ds nksjku mpp C;kt izhkkjks ds dkj.k fuoy gkfu gqbz FkhA C;kt izhkkjks dks de djus ds fy, diuh dk forrh; iquxzbu djuk vfuok;z gsa chvkjih,lbz dks izlrqr djus ds fy, diuh dh nh?kkzof/k O;ogk;Zrk gsrq,d O;kid izlrko rs;kj fd;k x;k gs tks esllz,pvh,l vksj ihmhvkbz,y }kjk djk, x, uke:i&aa vksj uke:i&aaa l;=ks dh v/;;u fjiksvks rfkk ihmhvkbz,y }kjk rs;kj O;ogk;Zrk izlrko ij vk/kkfjr gsa izlrko es diuh dk forrh; iquxzbu rfkk uke:i es u, czkmuqhym veksfu;k&;wfj;k l;= dh LFkkiuk djuk 'kkfey gsa forrh; iquxzbu izlrko es Hkkjr ljdkj ds _.k ij izksn~hkwr dqy lp;h C;kt dks ekq djuk uke:i&a ds iqu#)kj gsrq fy, x, djksm+ #i, ds _.k dks ekq djuk rfkk Hkkjr ljdkj ds _.kks dks ifjofrzr djuk 'kkfey gs c'krs Z fd diuh dks C;kt eqdr _.k fn;k tk,a fjiksvz mozjd fohkkx dks fnlcj 2011 dks izlrqr dh xbz FkhA mriknu {ks= es uke:i&aaa l;= ls dqy mriknu vis{kk ls de jgk gs tks eq[;r% uohuhdj.k dk;ks gsrq fd, x, 'kvmkmu] izkñfrd xsl dh lhfer vkiwfrz rfkk o"kz 2011&12 dh igyh Nekgh es veksfu;k&aaa l;= es flfksfll ywi es U;wu duotzu ds dkj.k gsa uocj 2011 es fd, x, 'kvmkmu ds nksjku mpp ncko veksfu;k flfksfll ywi es ch,qmcy;w ghvjks rfkk okwvj dwym dms ljks lfgr veksfu;k flfksfll dovzj ckldsv dks lqyrkiwozd cnyk x;k FkkA izfrlfkkiu dh bu dkjzokb;ks ds iwjk gksus ds ckn uke:i&aaa l;= dks LFkk;h vk/kkj ij iwjs yksm ls Hkh vfèkd ij pyk;k tk jgk gs rfkk bldh ÅtkZ [kir dks 10thdSy@eh-Vu ;wfj;k ls de ij yk;k tk ldk FkkA ge ;wfj;k vksj veksfu;k dk mppre mriknu djus ds lkfk uke:i&aa ds fu"iknu es Hkh lq/kkj dj ik, gs rfkk iqu#)kj ds ckn ls ÅtkZ dh [kir Hkh lcls de jgh gsa mpp mriknu izkir djus es eq[; ck/kk midj.kks dk [kjkc gksuk rfkk izkñfrd xsl dh deh gsa geus vkjth ckw;yj ds igys dikvzes V dks cnyus ds fy, dkjzokbz izkjhk dj nh gs ftles The compny could mke modest operting profit during the yer However, there were net losses during the yer due to high interest chrges. The finncil restructuring of the Compny is impertive to bring down interest chrges. A comprehensive proposl for Long Term Vibility of the Compny for submission to BRPSE hs been prepred bsed on the study reports of Nmrup-II & Nmrup-III Plnts crried out by M/s HTAS nd PDIL nd vibility proposl prepred by PDIL. The proposl includes finncil restructuring of the Compny nd setting up of new Brown field Ammoni-Ure Plnt t Nmrup. The finncil restructuring proposl includes wiver of totl cumultive interest ccrued on GOI lons, Wiver of lon of Rs crore tken for revmp of Nmrup-I nd conversion of GOI lons provided to the compny s interest free lon. The report ws submitted to the Deprtment of Fertilizers in December On production front, overll production from Nmrup- III plnts remined below expecttions minly due to shutdowns tken for renovtion jobs, limittion in supply of Nturl Gs nd lower conversion in synthesis loop in Ammoni-III plnt in the first hlf of The mmoni synthesis converter bsket long with BFW Heters nd Wter Cooled Condensers in high pressure mmoni synthesis loop were replced successfully during shutdown tken in November After completion of these replcements, Nmrup-III Plnt is being operted on sustined bsis bove full lod nd its energy consumption could be brought down below 10 Gcl/ MT of ure. We could chieve improvement in performnce of Nmrup-II with highest ure nd mmoni production nd lowest energy consumption since revmping. The equipment brekdown nd shortge of nturl gs re min impediments in chieving higher production. We hve lredy tken ction to replce 13

16 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm V~;wc 'khv ls fjlko gks jgk FkkA 1-72,e,e,llh,eMh izkñfrd xsl dh vkiwfrz ds fy, esllz vkw;y bfm;k fyfevsm ds lkfk ubz xsl vkiwfrz vksj Ø; djkj ¼th,lih,½ dks vfre :i nsus dh ppkz ds nksjku geus esllz vkw;y bfm;k ls vfrfjdr xsl dh vkiwfrz djus dk vuqjks/k fd;k Fkk rkfd uke:i&aa l;=ks dks iwjs yksm ij pyk;k tk ldsa mugks us fudv Hkfo"; es fdlh izdkj dh vfrfjdr xsl dh vkiwfrz djus es viuh vlefkzrk trkbz gsa ysfdu mugks us ;g vk'oklu fn;k gs fd czg~eiq= ØSdlZ,M ikwyhelz fyfevsm dh LFkkiuk ds ckn u, dqvks ds vuos"k.k ds dkj.k ;fn mugs vfrfjdr xsl miyc/k gksrh gs rks Hkfo"; es flfkfr dh leh{kk dh tk,xha vkidh diuh tu'kfdr dh HkrhZ vksj mugs cuk, j[kus es vr;f/kd ldv dk lkeuk dj jgh gs & bldk eq[; dkj.k gekjs dezpkfj;ks ds osru <kps dk de gksuk gsa ekeys dks izkf/kdkfj;ks ds lkfk mbk;k x;k gs rkfd vf/kof"kzrk dh vk;q dks 58 o"kz ls c<+kdj 60 o"kz fd;k tk lds vksj osrueku es l'kks/ku fd;k tk ldsa ges meehn gs fd gekjs iz;klks dk ldkjkred mrrj izkir gksxka vpnk dkjiksjsv xos Zus l ges'kk ls vkidh diuh dk mn~ns'; jgk gsa diuh dk fl)kr mlds ysu&nsu es ikjnf'kzrk lqfuf'pr djuk rfkk ns'k ds dkuwuks vksj fofu;eks dk vuqikyu djuk jgk gs rkfd O;olk; es uhfrxr vkpj.k dks izksrlkfgr fd;k tk ldsa fo eku fn'kk&funs Z'kks ds vuqlkj iz'kklfud e=ky; dks dkjiksjsv xous l ds lc/k es frekgh vuqikyu fjiksvz Hksth tkuh visf{kr gksrh gsa es funs'kd emy es vius lg;ksfx;ks }kjk cgqewy; lefkzu vksj ekxzn'kzu nsus ds fy, mudh [kqys fny ls ljkguk djrk gw A bl volj ij es mozjd fohkkx dk lrr~ lg;ksx nsus ds fy, vkhkkj O;Dr djrk gw A es jkt; ljdkjks rfkk vu; lhkh izkf/kdkfj;ks vksj,ts fl;ks }kjk fn, x, lefkzu ds fy, Hkh vkhkkj O;Dr djrk gw A es choh,qlh,y ds lhkh dezpkfj;ks dk lxbu ds le{k j[kh xbz pquksfr;ks dks iwjk djus es muds lrr~ iz;klks ds fy, /ku;okn djrk gw A es VªsM ;wfu;uks dk Hkh muds }kjk fn, x, jpukred lg;ksx ds fy, vkhkkj O;Dr djrk gw A mudh vksj ls es vki lhkh 1st comprtment of RG Boiler which hs developed tube sheet lekge. During discussion to finlize the new gs Supply nd Purchse Agreement (GSPA) with M/s Oil Indi Ltd for supply of 1.72 MMSCMD of Nturl Gs, we requested M/s Oil Indi to supply dditionl gs so tht Nmrup-II plnts could be operted t full lod. They showed their inbility to supply ny dditionl gs in ner future. However, they ssured to review the position in future if dditionl gs is vilble with them due to explortion of new wells fter commissioning of Brhmputr Crckers & Polymers Limited. Your compny is fcing cute crisis in mnpower recruitment nd retention - mjor reson being low slry structure of our employees. The mtter hs been tken up with uthorities to rise the supernnution ge from 58 to 60 yers nd revision of py scle. We re hopeful positive outcome of our efforts. Good corporte governnce hs lwys been the hllmrk of your Compny. The philosophy of the Compny is to ensure trnsprency in its delings nd complince of country's lws nd regultions in order to promote ethicl conduct of business. Qurterly complince report for corporte governnce is sent to the dministrtive Ministry s per the pplicble guidelines. I wish to plce on record my sincere pprecition to my collegues in the Bord of Directors for the vluble support nd guidnce. I tke this opportunity to thnk Deprtment of Fertilizers for their unstinted support. I lso cknowledge the support extended by the Stte Governments nd ll other uthorities nd gencies. I thnk ll the employees of BVFCL for their sustined endevours in meeting the chllenges posed before the orgnistion. I lso thnk the trde unions for their constructive 14

17 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ls ges'kk dh rjg lrr~ lefkzu dh vis{kk djrk g wa es,d ckj iqu% vki lhkh dk /ku;okn djrk gw vksj vkus okys mrloks ds fy, viuh gkfnzd 'kqhkdkeuk, nsrk gw A coopertion. On their behlf, I seek your continued support, s lwys. I thnk ll of you once gin nd offer my best wishes for very joyous festive seson hed. glrk0@&,u-ds- lkgk v/;{k,o izc/k funs'kd Sd/- N.K. Sh Chirmn nd Mnging Director 15

18 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Jh,u-ds- lkgk] funs'kd ¼mRiknu½,o vè;{k lg izcèk funs'kd ¼vfrfjDr izhkkj½ x.kr= fnol ijsm dk fujh{k.k djrs gq, Shri N.K. Sh, Director (Production) & CMD (Additionl Chrge) inspecting the prde on Republic Dy uke:i pk; ckxku dk,d n`'; A view of Nmrup Te Grden 16

19 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm czãiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ithñr dk;kzy; % uke:i] ikslv vkwfql % iczriqj] ftyk % fmczwx<+ & ] vle Regd. Office : Nmrup, P.O. : Prbtpur, Dist. Dibrugrh , Assm choh,qlh,y dh 10oh okf"kzd vke lhkk dh lwpuk,rn~}kjk lwfpr fd;k tkrk gs fd czãiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ds 'ks;j/kkjdks dh 10oh vke lhkk dh csbd xq:okj] 27 flrecj] 2012 dks iwokzg~u cts diuh ds ithñr dk;kzy; ds lhkkxkj] iz'kklfud Hkou] uke:i] Mkd?kj% iczriqj] ftyk % fmcz wx<+ ¼vle½ es gksxha bl vke lhkk es 31 ekpz] 2012 dks lekir gq, forr o"kz ds ys[kk&ijhf{kr okf"kzd ys[kks ds lkfk funs'kdks dh fjiksvz] ys[kk&ijh{kdks dh fjiksvz] fu;=d,o egkys[kdkj dh fviif.k;ks vksj forrkh; o"kz 2012&13 ds lkfof/kd ys[kk&ijh{kdks ds ikfjjfed ij lkeku; dkjksckj ds :i es fopkj fd;k tk,xk vksj ;fn mfpr le>k x;k rks fueufyf[kr ldyi dks l'kksèku¼uks ½ ds lkfk ;k fcuk l'kksèku ds ikfjr fd;k tk,xka lkeku; dkjksckj % 1- ^^;g fu.kz; fy;k tkrk gs fd 31 ekpz] 2012 dks lekir gq, o"kz ds fy, diuh ds ys[kk&ijhf{kr okf"kzd ys[kks dks funs'kdks dh fjiksvz] ys[kk&ijh{kdks dh fjiksvz vksj mu ij fu;=d,o egkys[kk ijh{kd dh fviif.k;ks lfgr,rn~}kjk Lohdkj fd;k tk,a^^ 2- ^^;g fu.kz; fy;k tkrk gs fd diuh vf/kfu;e] 1956 dh /kkjk 619¼4½ ds izko/kkuks ds vuqlj.k es esllz th- pks/kjh,m,lksfl,v~l] pkvzmz,dkmvs V~l] LVs'ku QhMj jksm] QkW;j fczxsm ds ihns] flyhxqm+h& ¼if'pe cxky½ dks Hkkjrh; fu;=d vksj egkys[kk ijh{kd ¼lh,M,th½] ubz fnyyh ds dk;kzy; ls izkir vkns'k i= l- lh,-oh@lhvksokbz@dsunz ljdkj@ choh,qlh,y ¼1½@2009 fnukd ds NOTICE OF 10TH ANNUAL GENERAL MEETING OF BVFCL Notice is hereby given tht the 10th Annul Generl Meeting of the members of Brhmputr Vlley Fertilizer Corportion Limited will be held on Thursdy, 27th dy of September, 2012 t A.M. t the registered office of the Compny in the Conference room, Administrtive Building, Nmrup, P.O.: Prbtpur, District : Dibrugrh (Assm) to consider the udited nnul ccounts for the finncil yer ended 31st Mrch, 2012 long with Director's Report, Auditors Report, Comments of C&AG nd remunertion of Sttutory Auditors for the finncil yer s Ordinry Business, nd if thought fit, to pss the following resolution with or without modifiction(s) : ORDINARY BUSINESS : 1. "RESOLVED THAT the Audited Annul Accounts of the Corportion for the finncil yer ended 31st Mrch, 2012 long with the Director's Report, Auditors' Report nd the Comments of the C & AG thereon be nd re hereby dopted." 2. "RESOLVED THAT pursunt to the provisions of Section 619(4) of the Compnies Act, 1956, M/s. G. Choudhury & Assocites, Chrtered Accountnts, Sttion Feeder Rod, Behind Fire Brigde, Siliguri (West Bengl), ppointed to udit the ccounts of the compny for the finncil yer , in terms of the Order received from the office of the Comptroller 17

20 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm vuqlkj forrh; o"kz 2012&13 ds fy, diuh ds ys[kkvks dh ys[kk&ijh{kk djus ds fy, #i, ds c<+ s gq, ikfjjfed rfkk ykxw ys[kk lsok dj vksj ;k=k rfkk vu; ckgjh O;;] tks oklrfod [kpz dh 'krz ij vf/kdre 60]000@& #i, rd gksxl] ij fu;qdr fd;k x;k gs vksj bls,rn~}kjk vuqeksfnr fd;k tkrk gs rfkk mi;q ZDr lkfof/kd ys[kk&ijh{kd vxyh okf"kzd lkeku; csbd dks lekfir gksus rd dk;kzy; es cus jgs xsa^^ LFkku % ubz fnyyh fnukd % 24 flrecj] 2012 funs'kd e.my ds vkns'kkuqlkj glrk-@& vkj- ds- xqirk diuh lfpo fvii.kh% csbd es miflfkr gksus vksj er nsus dk ik= dksbz Hkh lnl; vius LFkku ij fdlh vu; O;fDr dks csbd es miflfkr gksus ds fy, izkf/kd`r dj ldrk gs vksj ;g vko';d ugh gs fd og O;fDr deiuh dk lnl; gksa lsok es izfrfyfi% czg~eiq= osyh QfVZykbt+lZ dkjiksjs'ku fyfevsm ds lhkh lnl; 1- Jh fprk osdv Ñ".kk v/;{k] ys[kk&ijh{kk lfefr] choh,qlh,y 2- esllz th- pks/kjh,m,lksfl,v~l] lunh ys[kkdkj] LVs'ku QhMj jksm] QkW;j fczxsm ds ihns] flfyxqm+h & ¼if'pe cxky½ nd Auditors Generl of Indi (C &AG), New Delhi vide letter no. CA.V/COY/CENTRAL GOVT./ BVFCL (1) / 209 dted t n enhnced remunertion of Rs. 1,35,000/- plus pplicble service tx nd trvelling & other out of pocket expenses, upto the ceiling of Rs. 60,000/- subject to ctuls, be nd is hereby pproved AND THAT bove Sttutory Auditors shll hold office from the conclusion of this Annul Generl Meeting till the conclusion of next Annul Generl Meeting." By Order of the Bord of Directors Sd/- R.K. Gupt Compny Secretry Plce : New Delhi Dte : 24th September, 2012 Note : A member entitled to ttend nd vote is lso entitled to ppoint proxy to ttend nd vote insted of himself nd the proxy need not be member of the Compny. To All Members of BVFCL Copy to: 1. Shri Chint Venkt Krishn Chirmn, Audit Committee, BVFCL 2. M/s G. Choudhury & Assocites Chrtered Accountnts Sttion Feeder Rod Behind Fire Brigde Siliguri (West Bengl) 18

21 funs'kdks dh fjiksvz lsok es ] lnl;x.k] czãiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm fiz; lnl;ks] vkids funs'kdks dks 31 ekpz] 2012 dks lekir forrh; o"kz ds fy, diuh ds lhkh {ks=ks es dk;z&fu"iknu dks n'kkzus okyh 10oh okf"kzd fjiksvz rfkk ys[kk&ijhf{kr ys[kk&fooj.k] ys[kk&ijh{kdks dh fjiksvz vksj Hkkjr ds fu;=d vksj egkys[kk ijh{kd }kjk ys[kkvks dh leh{kk izlrqr djrs gq, cm+h izluurk gks jgh gsa 1- forrh; fu"iknu dh leh{kk% finys o"kz dh rqyuk es leh{kk/khu o"kz es diuh dh forrh; flfkfr dk fooj.k fueu izdkj gs%& czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm DIRECTORS' REPORT To, The Members, Brhmputr Vlley Fertilizer Corportion Ltd. Der Members, Your Directors hve gret plesure in presenting the Tenth Annul Report of the Compny reflecting performnce of the compny in ll spheres, long with the udited nnul sttement of ccounts, Auditors' Report nd review of the ccounts by the Comptroller nd Auditor Generl of Indi for the finncil yer ended 31st Mrch, REVIEW OF FINANCIAL PERFORMANCE: The finncil performnce of the Compny during the yer under review vis--vis previous yer re stted s under : ¼djksM+ #i, es ½ (Rs. in Crores) fooj.k dks dks lekir o"kz ds fy, lekir o"kz ds fy, Prticulrs For the yer For the yer ended ended ewy;gzkl vksj C;kt ls iwoz ykhk ¼$½@¼&½ Profit (+) / Loss (-) before Dep. & Int. ewy;gzkl@deprecition C;kt@Interest iwoz vof/k@fof'k"v enks ds lek;kstu ds ckn ykhk ¼$½@gkfu ¼&½ (-) (-) Profit (+) / Loss (-) before prior period / extr-ordinry items djustments iwoz vof/k lek;kstu (-) (-) 7.67 Prior Period Adjustments (-) Dr. / (+) Cr. iwoz vof/k@fof'k"v enks ds lek;kstu ds ckn fuoy ykhk¼$½@gkfu¼&½ (-) (-) Net Profit (+) / Loss (-) fter prior period nd Extr Ordinry items djustments 19

22 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm i½ ii½ iii½ o"kz ds nksjku dkiks Zjs'ku us finys o"kz es djksm+ #i, ds izpkyu ykhk dh rqyuk es djksm+ #i, ¼ewy gzkl vksj C;kt ls iwoz½ dk izpkyu ykhk vftzr fd;k gsa,slk eq[;r% fueufyf[kr dkj.kks ls gs% usiky dks fd, x, ;wfj;k ds fu;kzr es o`f)a ;g eq[;r% usiky dks ;wjf;k ds fu;kzr dh o`f) djus ds dkj.k gsa bl o"kz eh-vu ;wfj;k dk fu;kzr fd;k x;k ¼fiNys o"kz 30]000 eh-vu½a finys o"kz ds eh-vu ds ;wfj;k mriknu dh rqyuk es ;wfj;k dk dqy mriknu bl o"kz eh-vu Fkk( vof/k&iwoz lek;kstu es o`f) djksm+ #i, Fkh ¼fiNys o"kz 7-67 djksm+ #i,½ tks ¼d½ djksm+ #i, ds Hkkjr ljdkj ds _.k ij C;kt]¼[k½ djksm+ #i, dh izfr/kkj.k ewy; jktlgk;rk] rfkk ¼x½ vkw;y bfm;k fyfevsm ds 9-47 djksm+ #i, ds fookfnr nkos dk fuivkua 2- izc/ku ppkz vksj fo'ys"k.k fjiksvz dkwiks Zjs'ku ds izpkyuks vksj Hkkoh lhkkoukvks dks n'kkzrs gq, izc/ku dh ppkz vksj fo'ys"k.k ij,d fjiksvz vuqyxud&i ij lyxu gsa 3- dkjiksjsv xous±l dkjiksjsv dk;z e=ky; ¼,elh,½ vksj yksd m e fohkkx ¼MhihbZ½ }kjk tkjh dkiks Zjs'ku 'kklu fn'kk&funs Z'kks dk vuqikyu djus lc/kh ofj"b izc/ku vksj cksmz lnl;ks dh vkpj.k fu;ekoyh dh lfgrk ds vuqikyu dh?kks"k.kk lfgr dkwiks Zjs'ku 'kklu ij,d fjiksvz rfkk lfpoky; ys[kk&ijh{kk fjiksvz es dh xbz fvii.kh ij izc/ku ds mrrj vuqyxud&ii es nh xbz gsa During the yer, corportion hs erned opertion profit of Rs crores (before deprecition nd interest) ginst previous yer operting profit of Rs crores. This is minly due to the following : i) Incresed ure export to Nepl. This is minly due to increse of Export of Ure to Nepl. This yer MT Ure ws exported (Previous yer MT); ii) iii) During the yer, totl production of Ure ws MT in comprison to lst yer MT; Increse in Prior period Adjustment ws Rs crores (Previous yer Rs crores.) Due to ) Interest on GOI Lon Rs crores, b) Retention Price Subsidy Rs crores, nd c) Settlement of disputed clim of Oil Indi Limited of Rs crores. 2. MANAGEMENT DISCUSSION & ANALYSIS REPORT A Report on Mngement Discussion nd Anlysis covering the opertions nd future prospects of the Corportion is enclosed t Annexure-I. 3. CORPORATE GOVERNANCE A report on Corporte Governnce long with declrtion of complince of code of conduct rules of Sr. Mngement nd Bord members, Secretril Audit Report, Certificte from Prctising Compny Secretries firm conforming the complince of corporte governnce guidelines issued by the Ministry of Corporte Affirs (MCA) nd the Deprtment of Public Enterprises (DPE) nd the mngement replies to the observtion mde in Secretril Audit Report t Annexure-II. 20

23 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 4- funs'kd emy es ifjorzu leh{kk/khu vof/k ds nksjku funs'kd emy es fueufyf[kr ifjorzu gq, gs% Jh jkekj; flg] v/;{k,o izc/k funs'kd dks vf/kof"kzrk dh vk;q izkir djus ij lsok&fuo`rr gks x, gs] rri'pkr~ lh,emh] choh,qlh,y ds in dk vfrfjdr izhkkj rhu ekg vfkkzr~ rd ds fy, Jh,u-ds- lkgk] funs'kd ¼mRiknu½ dks lksik x;k FkkA rri'pkr~ lh,emh] choh,qlh,y ds in ds fy, vfrfjdr izhkkj dks fu;fer djus dk vkns'k vhkh Hkkjr ljdkj ls izkir gksuk gsa Jh fot; jtu flg] funs'kd ¼moZjd½] mozjd fohkkx us Jh euh"k f=ikbh] mi lfpo ¼moZjd½] mozjd fohkkx ds LFkku ij fnukd dks choh,qlh,y cksmz es dk;zhkkj xzg.k fd;k FkkA Jherh yfyrk nkl] mi lfpo ¼iz'kklu vksj lrdzrk½] mozjd fohkkx dks vf/kof"kzrk dh vk;q izkir djus ij lsok&fuo`rr gks xbz gsa muds LFkku ij Jh uhjt fl?ky] funs'kd ¼ih,l;w½] mozjd fohkkx us dks choh,qlh,y cksmz es dk;zhkkj xzg.k fd;k FkkA Jh jktho dqekj] mi lfpo ¼,,.Moh½] mozjd fohkkx us Jh uhjt fl?ky] funs'kd ¼ih,l;w½] mozjd fohkkx ds LFkku ij dks choh,qlh,y ds cksmz es dk;zhkkj lhkky fy;k gsa Jh fprk os dv Ñ".kk] is'ksoj pkvzmz,dkmvs V] gsnjkckn us choh,qlh,y cksmz es ls rhu o"kz dh vof/k ds fy, xsj&vf/kdkjh v'kdkfyd funs'kd ds :i es dk;zhkkj xzg.k fd;k gsa funs'kd e.my lsok&fuo`rrk gksus okys funs'kdks }kjk choh,qlh,y cksmz es muds dk;zdky ds nksjku nh xbz lsokvks ds fy, viuk gkfnzd vkhkkj O;Dr djrk gsa 4. CHANGES IN BOARD OF DIRECTORS' During the period under review, the following chnges took plce in the Bord of Directors: Shri Rmshry Singh, Chirmn nd Mnging Director hs retired on ttining his ge of supernnution on , subsequently, Additionl Chrge of the post of CMD, BVFCL ssigned to Shri N.K.Sh, Director (Production) for three month period, i.e. upto subsequently, for regulriztion of dditionl chrge for the post of CMD, BVFCL is yet to be received from the GOI. Shri Vijy Rnjn Singh, Director (Fertilizers), DOF joined the BVFCL Bord on in plce of Shri Mnish Tripthi, Deputy Secretry (Fertilizers), DOF. Smt. Llith Ds, Deputy Secretry (A &V),DOF hs retired on ttining his ge of supernnution on In her plce, Shri Neerj Singhl, Director (PSU), DOF joined the BVFCL Bord on Shri Rjiv Kumr, Deputy Secretry (A&V), DOF hs joined the BVFCL Bord on in plce of Shri Neerj Singhl, Director (PSU), DOF. Shri Chint Venkt Krishn, Prcticing Chrtered Accountnts, Hyderbd hs joined the BVFCL Bord w.e.f for period of three yers s non officil prt time Director on the BVFCL Bord. Bord of Directors wishes to plce on record its sincere pprecition for the services rendered by the retiring Directors during their tenure on the BVFCL Bord. 21

24 Z s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 5- funs'kdks ds nkf;ro ls lcf/kr fooj.k% ¼i½ ¼ii½ ¼iii½ ¼iv½ funs'kdks ds nkf;ro ls lcf/kr fooj.k ds lc/k es diuh vf/kfu;e] 1956 dh /kkjk 217 ¼2dd½ ds izkoèkkuks ds vuqlj.k es funs'kd,rn~}kjk iqf"v djrs gs fd% okf"kzd ys[kkvks dks rs;kj djrs le; lkexzh ds iz s"k.k ls lcf/kr mfpr Li"Vhdj.k lfgr ys[kkdu ekudks dk ikyu fd;k x;k gsa funs'kdks us,slh ys[kkdu uhfr;ks dk p;u djds mugs bl izdkj ls ykxw fd;k gs fd fy, x, fu.kz; vksj rs;kj fd, x, vuqeku vksfpr;iw.kz vksj foosdlxr gks ] rkfd 31 ekpz] 2012 ds vuqlkj diuh dh xfrfof/k;ks ds ckjs es lgh,o mfpr n`f"vdks.k RkFkk 31 ekpz] 2012 dks lekir vof/k ds fy, ykhk o gkfu dk ys[kk izlrqr fd;k tk ldsa funs'kdks us diuh vf/kfu;e] 1956 ds izko/kkuks ds vuqlkj diuh dh ifjleifrr;ks dh lqj{kk ds fy, vksj fdlh izdkj dh gsjkqsjh rfkk vu; vfu;ferrkvks dks jksdus ds fy, ys[kkdu fjdkmks dks rs;kj djus dh vksj i;kzir vksj mfpr è;ku fn;k gsa funs'kdks us diuh ds Hkfo"; es cus jgus ds vk/kkj ij okf"kzd ys[ks rs;kj fd, gsa mi;q ZDr ds vykok] vkids funs'kdks us frekgh vkèkkj ij dk;zikyd izc/ku ls iqf"v izek.k&i= izkir djds diuh ij ykxw lhkh dkuwuks dk vuqikyu lqfuf'pr fd;k gsa 6- lkfof/kd ys[kk&ijh{kd rfkk Hkkjr ds fu;=d vksj egkys[kk ijh{kd dh fvii.kh % diuh ds forrh; o"kz 2011&12 ds ys[kks dh 5. DIRECTORS' RESPONSIBILITY STATEMENT: (i) (ii) (iii) (iv) Pursunt to the provisions of Section 217(2AA) of the Compnies Act, 1956 with respect to the Directors' Responsibility Sttement, the Directors hereby confirm tht : Tht in the preprtion of nnul ccounts, the pplicble ccounting stndrds hve been followed long with proper explntion relting to mteril deprtures. Tht the Directors hve selected such ccounting policies nd pplied them consistently nd mde judgments nd estimtes tht re resonble nd prudent so s to give true nd fir view of the stte of ffirs of the Compny s t 31st Mrch 2012 nd of profit nd loss ccount for the finncil yer ended 31st Mrch, Tht the Directors hve tken proper nd sufficient cre for the mintennce of dequte ccounting records in ccordnce with the provisions of the Compnies Act, 1956 for sfegurding the ssets of the Compny nd for preventing nd detecting frud nd other irregulrities. Tht the Directors hve prepred the Annul Accounts on going concern bsis. Besides the bove, your directors hve ensured the complince of ll lws pplicble to the compny by obtining confirmtion certifictes from the executive mngement on qurterly bsis. 6. STATUTORY AUDITORS' REPORT AND COMMENT OF COMPTROLLER & AUDITOR GENERAL OF INDIA (C&AG): M/s. Gopl Choudhury & Co., Chrtered 22

25 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ys[kk&ijh{kk djus ds fy, Hkkjr ds fu;=d,o egkys[kk ijh{kd }kjk esllz xksiky pks/kjh,m diuh] lunh ys[kkdkj] flfyxqm+h dks diuh dk lkfof/kd ys[kk&ijh{kd fu;qdr fd;k x;k gsa mi;q ZDr ys[kk&ijh{kdks us 31 ekpz] 2012 dks lekir forrh; o"kz ds fy, diuh ds okf"kzd ys[kkvks ij fnukd dks viuh ys[kk&ijh{kk fjiksvz izlrqr dj nh gsa rri'pkr~ ljdkjh ys[kk&ijh{kdks ¼lh,M,th½ us diuh ds ys[kk&ijhf{kr okf"kzd ys[kkvks ij vuqiwjd ys[kk&ijh{kk djkbz vksj dqn =qfv;ks dh vksj bfxr fd;k] tks eqnz.k fdr vrj dh izñfr dh FkhA diuh us bu =qfv;ks dks Bhd dj fy;k gs vksj Lk'kksf/kr forrh; fooj.k rs;kj dj fy, gs] ftugs funs'kd emy }kjk fnukd dks gqbz mudh 64oh csbd es fof/kor vuqeksfnr fd;k x;k FkkA lkfof/kd ys[kk&ijh{kdks us Hkh fnukd dks viuh l'kksf/kr ys[kk&ijh{kk fjiksvz izlrqr dj nh gsa izc/ku us 31 ekpz] 2012 dks lekir o"kz ds fy, diuh ds ys[kkvks ij lkfof/kd ys[kk ijh{kkvks dh fjiksvz dh fviif.k;ks ij izc/ku dk mrrj vuqyxud&iii ij lyxu gsa vkids funs'kdks us o"kz 2012&13 ds fy, mi;q ZDr lkfof/kd ys[kk&ijh{kdks dk ikfjjfed fu/kkzfjr djus lc/kh fu.kz; ds vuqeksnu dh flqkfj'k dh FkhA izc/ku us 31 ekpz] 2012 dks lekir o"kz ds fy, diuh ds ys[kk&ijhf{kr ys[kkvks ij fu;=d,o egkys[kk ijh{kd dh fviif.k;k funs'kd dh fjiksvz ds :Ik es vuqyxud&iv ij lyxu gsa 7- ykxr ys[kk&ijh{kk% diuh vf/kfu;e] 1956 dh /kkjk 233[k ds izko/kkuks ds vuqlj.k es diuh ds funs'kd emy us 31 ekpz] 2012 dks lekir forrh; o"kz ds diuh ds ykxr ys[kks dh ys[kk&ijh{kk djus ds fy, esllz lqhknzk nrr,.m,lksfl,v~l] ykxr ys[kkdkj] nqfy;ktku dks fu;qdr fd;k gsa Accountnts, Siliguri were ppointed s Sttutory Auditors of the Compny by the Comptroller & Auditor Generl of Indi to udit the ccounts of the Compny for the finncil yer The bove Auditors hve submitted their Audit Report dt on the nnul ccounts of the compny for the finncil yer ending 31st Mrch, 2012.Subsequently, Govt. Auditors (C & AG) conducted supplementry udit on the udited nnul ccounts of the compny nd pointed out certin errors, which were in the nture of typogrphicl errors/rounding off differences. The compny hs rectified these errors nd prepred revised finncil sttements, which were duly pproved by the Bord of Directors in their 64th meeting held on The Sttutory Auditors hve lso submitted their revised udit report dted The mngement replies on the observtions of Sttutory Auditors' report on the ccounts of the compny for the yer ended 31st Mrch, 2012 re enclosed t Annexure-III. Your Directors recommended for the pprovl of the resolution for the fixtion of remunertion of bove Sttutory Auditors for the yer The comments of the C & AG on the Audited Annul Accounts of the Compny for the yer ended 31st Mrch, 2012 is enclosed t Annexure-IV to the Directors' Report. 7. COST AUDITORS: In complince of the provisions of Section 233B of the Compnies Act, 1956, Bord of Directors of the Corportion hve re-ppointed M/s. Subhdr Dutt & Assocites, Cost Accountnts, Dulijn to crry out the udit of cost ccounts of the Compny for the finncil yer ending 31st Mrch,

26 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm mi;q ZDr ykxr ys[kk&ijh{kdks }kjk ykxr ys[kk&ijh{kk fjiksvz izlrqr djus dh fu/kkzfjr rkjh[k 31 fnlcj] 2012 gsa ykxr ys[kk vfhkys[k rfkk ekpz] 2012 dks lekir o"kz ds fy, mldh ys[kk&ijh{kk dh tk jgh gs vksj mls cksmz ds fopkjkfkz vksj vuqeksnu gsrq izlrqr dj fn;k tk,xk] ftls ykxr ys[kk&ijh{kdks }kjk mfpr izkf/kdkfj;ks dks ;Fkkle; fd;k tk,xka 8- ÅtkZ lj{k.k] izks ksfxdh viukuk vksj fons'kh eqnzk vtzu rfkk O;; ÅtkZ ds lj{k.k] izks ksfxdh viukus rfkk fons'kh fofue; vtzu rfkk fjyht ds lc/k es diuh ¼funs'kd emy dh fjiksvz es fooj.kks dk [kqyklk½ fu;e] 1988 ds lkfk ifbr Hkkx 217 ¼1½¼M-½ ds izko/kkuk s ds vuqlkj lwpuk dh tkudkjh vuqyxud&i ¼d½ vksj ¼[k½ es lyxu gsa 9- jkthkk"kk dk izxkeh iz;ksx% Hkkjr ljdkj dh jkthkk"kk uhfr ds dk;kzuo;u ds fy, lhkh ljdkjh funs Z'kk s dk ikyu fd;k tk jgk gsa leh{kk/khu o"kz ds nksjku dkwiks Zjs'ku es fgnh jkthkk"kk ds iz;ksx dks c<+kok nsus ds fy, fueufyf[kr dk;zdyki fd, x,% The due dte of filing of cost udit report by the bove Cost Auditors is 31st December, The cost ccounting records nd its udit for the yer ended mrch, 2012 is the process nd the sme will be submitted to the Bord of Directors for their considertion nd pprovl, which shll be filed /submitted to the pproprite uthorities by the Cost Auditors in due course. 8. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO. The Disclosure of informtion in ccordnce with the provisions of Section 217 (1) (e) red with Compnies (Disclosure of prticulrs in the Report of Bord of Directors) Rules, 1988 regrding conservtion of energy, technology bsorption nd foreign exchnge erning nd outgo re enclosed t Annexure-I (A) & (B). 9. PROGRESSIVE USE OF OFFICIAL LANGUAGE: All Govt. directions for implementtion of Officil Lnguge Policy of the Govt. of Indi re being followed. During the yer under review, following ctivities were tke plce to increse the wreness of use of Hindi Rj Bhsh in the Corportion: i½ ii½ fgnh u tkuus okys dezpkfj;ks vksj vf/kdkfj;ks ds fy, ^izf'k{k.k d{kk,^ vk;ksftr dh xbz A ^izoh.k^ d{kk es 10 dezpkfj;ks vksj ^izkk^ d{kk es 12 dezpkfj;ks dks izf'kf{kr fd;k x;k( ls rd fgnh i[kokm+k euk;k x;ka bl vof/k ds nksjku fuc/k&ys[ku] dfork ikb vksj Hkk"k.k izfr;ksfxrkvks dk vk;kstu fd;k x;k] ftlus dezpkfj;ks dks Hkkx ysus ds fy, izksrlkfgr fd;ka i) Conducted 'Trining clsses' for the employees nd officers, who were not knowing hindi lnguge. In 'Prveen' Clsses -10 employees nd 'Prgy' clsses 12 employees were educted; ii) Hindi Fortnight were celebrted from to 30th September, In this period, essy writing, poem nd speech competitions were orgnized, which motivtes encourging prticiption by the employees. 24

27 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm iii½ dkiks Zjs'ku ds mppkf/kdkfj;ks dh f}hkk"kh ljdkjh eksgj dk ljdkjh iz;ksx ds fy, blrseky fd;k x;ka diuh dk dksbz Hkh dezpkjh ;Fkkl'kksf/kr diuh ¼deZpkfj;ks dk fooj.k½ fu;e] 1975 ds lkfk ifbr diuh vf/kfu;e] 1956 dh /kkjk 217¼2d½ ds vrxzr ugh vkrk gsa lwpuk dk vf/kdkj vf/kfu;e 2005 es ljdkjh lwpuk ds fy, ukxfjdks ds vuqjks/k ij le; ij mrrj nsuk vfuok;z gksrk gsa choh,qlh,y jlk;u vksj mozjd e=ky; ds iw.kz LokfeRo okyh,d ljdkjh diuh gsa lwpuk dk vf/kdkj vf/kfu;e] 2005 ds izko/kkuks ds vuqlkj diuh vf/kfu;e ds vrxzr tkjh funs Z'kks dk vuqikyu djus dk gj lhko iz;kl djrh gsa choh,qlh,y us vihyh; izkf/kdkjh] tu lwpuk vfèkdkjh] osdfyid ihvkbzvks rfkk diuh ds lgk;d lkoztfud lwpuk vf/kdkjh dk ukekdu fd;k gsa vf/kfu;e ds vrxzr ukfer vf/kdkfj;ks dk C;kSjk choh,qlh,y dh osclkbv ij viyksm fd;k x;k gs rkfd diuh ds dk;ks ds ckjs es lwpuk nh tk ldsa 10- /kkjk 217¼2d½ ds v/khu dezpkfj;ks dk fooj.k 11- lwpuk dk vf/kdkj vf/kfu;e ,elh, 21 dkjiksjsv dk;z e=ky; ¼,elh,½ }kjk ;g bz&'kklu igy o"kz 2006 es vkjhk dh xbz FkhA ;g nlrkostks dks izlrqr djus] difu;ks dk ithdj.k djus vksj dkjiksjsv dk;z e=ky; ds iksvzy ds tfj, dkjiksjsv lwpuk rd turk dh igq p lfgr lhkh,elh, lsok, miyc/k djkrk gsa choh,qlh,y diuh vf/kfu;e] 1956 ds izko/kkuks rfkk flrcj] 2006 ls blds vrxzr vkwuykbu cuk, x, fu;eks ds vrxzr visf{kr blds lhkh QkeZ] foojf.k;k vksj nlrkost izlrqr dj jgk gsa lhkh funs'kdks dh funs'kd igpku l[;k ¼MhvkbZ,u½ fo eku gs rfkk v/;{k,o izc/k funs'kd] funs'kd ¼mRiknu½ vksj diuh lfpo ds fmthvy glrk{kj izkir dj fy, x, gsa iii) Bi-lingul officil sels of higher officils of the Corportion were mde for officil use. 10. PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A): There is no employee in the compny covered under Section 217(2A) of the Compnies Act, 1956 red with Compnies (Prticulrs of Employees) Rules, 1975 s mended. 11. RIGHT TO INFORMATION ACT, 2005 Right to Informtion Act 2005 mndtes timely response to citizen's requests for government informtion. BVFCL is wholly owned Government compny under Ministry of Chemicls of Fertilizers. As per the provisions of Right to Informtion Act, 2005 the Compny mkes ll efforts to follow the directives issued under the Act. BVFCL hs nominted Appellte Authority, Public Informtion Officer, Alternte PIO nd Assistnt Public Informtion Officer of the Compny. The detils of the officers nominted under the Act hve been uploded on the website of BVFCL to fcilitte informtion bout the ffirs of the Compny. 12. MCA 21 This e-governnce inititive ws strted by Ministry of Corporte Affirs (MCA) in the yer It offers vilbility of ll MCA services including filing of documents, registrtion of compnies nd public ccess to corporte informtion through the portl of Ministry of Corporte Affirs. BVFCL hs been filing ll its forms, returns nd documents required under the provisions of Compnies Act, 1956 nd rules mde thereunder online since September, Director Identifiction Number (DIN) of ll the Directors re in plce nd Digitl Signtures of Chirmn nd Mnging Director, 25

28 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Director (Production) nd Compny Secretry hve been obtined. 13. ACKNOWLEDGEMENT: The Bord of Directors cknowledges the vluble guidnce nd continued support extended by the vrious Deprtments nd Ministries of the Govt. of Indi viz. Ministry of Chemicls & Fertilizers, Fertilizer Industry Coordintion Committee (FICC), Ministry of Agriculture, Indin Council for Agriculturl Reserch, Ministry of Petroleum & Nturl Gs, Ministry of Rilwys, Ministry of Finnce, Ministry of Home, Deprtment of Public Enterprises, Sttutory Auditors, Cost Auditors, Comptroller & Auditor Generl of Indi, Assm Gs Compny Limited, Oil Indi Limited, Ntionl Fertilizers Ltd., vlued delers nd customers. The Bord of Directors wishes to plce on record its sincere pprecition to Govt. of Assm nd other North Estern Sttes, Uttr Prdesh, Bihr, West Bengl, Jhrkhnd nd the Reserve Bnk of Indi, Punjb Ntionl Bnk, UCO Bnk, Stte Bnk of Ptil, Syndicte Bnk nd Bnk of Indi for their vlued co-opertion. The Bord of Directors lso cknowledges nd pprecites the untiring efforts put in by the employees of the Corportion for improving production performnce of Nmrup-II nd III plnts. For nd on behlf of the Bord Sd/- N.K. Sh Director (Production) & Chirmn & Mnging Director Dte : Plce : New Delhi 13- vkhkkj% funs'kd e.my Hkkjr ljdkj ds fofhkuu fohkkxks vksj e=ky;ks tsls jlk;u vksj mozjd e=ky;] mozjd fohkkx] mozjd m ksx leuo; lfefr ¼,Q-vkbZ-lhlh-½] d`f"k e=ky;] Hkkjrh; d`f"k vuql/kku ifj"kn] isvªksfy;e vksj izkd`frd xsl e=ky;] jsy e=ky;] forr e=ky;] x`g e=ky;] yksd m e fohkkx] lkfofèkd ys[kk&ijh{kdks ] ykxr&ys[kk ijh{kdks rfkk Hkkjr ds fu;=d vksj egkys[kk ijh{kd] us'kuy QfVZykbt+lZ fyfevsm] vle xsl diuh fyfevsm] vkw;y bf.m;k fyfevsm] leekfur Mhyjks vksj xzkgdks ls izkir gq, ekxzn'kzu vksj lrr~ lg;ksx ds fy, vkhkkj O;Dr djrk gsa funs'kd e.my iwoks ZRrj jkt;ks ] mrrj izns'k] fcgkj] if'pe cxky] >kj[k.m vksj Hkkjrh; fjtoz csd] itkc us'kuy csd] ;wdks csd] LVsV csd vkwq ifv;kyk] flf.mdsv csd rfkk csd vkwq bf.m;k ds cgqewy; lg;ksx ds fy, gkfnzd vkhkkj O;Dr djrk gsa funs'kd e.my uke:i&ii vksj III l;=ks ds mriknu lc/kh dk;z&fu"iknu es lq/kkj djus ds fy, dkwiks Zjs'ku ds dezpkfj;ks ds vfkd iz;klks ds fy, Hkh vkhkkj O;Dr djrk gs vksj mudh ljkguk djrk gsa frffk % LFkku % ubz fnyyh e.my ds fy, vksj mudh vksj ls glrk-@& ¼,u-ds- lkgk½ funs'kd ¼mRiknu½,o v/;{k,o izc/k funs'kd 26

29 Z s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kd dh fjiksvz dk vuqyxud&i izc/kd ppkz vksj fo'ys"k.k fjiksvz 1- O;olk; Ok"kZ 2002 es fuxfer czg~eiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ¼choh,Qlh,y½ mozjd fohkkx] jlk;u vksj mozjd e=ky;] Hkkjr ljdkj ds iz'kklfud fu;=.kk/khu vuqlwph ^ch^ Js.kh dk dsunzh; lkoztfud {ks= dk m e ¼lhih,lvks½ gsa choh,qlh,y uke:ik ¼vle½ es ;wfj;k tso&mozjdks ] Ñfe&[kkn dk mriknu djrk gs vksj chtks ] dhvuk'kdks ] mozjdks ¼,evksih] Mh,ih@,l,lih½ dk O;kikj djrk gsa dkiks Zjs'ku ^^eqdrk^^ czkm uke ds vrxzr vius mriknks dk foi.ku djrk gsa 2- n`f"vdks.k diuh ds fy, forrh; o"kz 2011&12,d?kVukiw.kZ o"kz Fkk tc uke:i&ii vksj uke:i&iii l;=ks ds eq[; uohdj.k dk;ks dks lqyrkiwozd iwjk fd;k tk ldk FkkA blds ifj.kkelo:i] mriknu es o`f) gqbz vksj fnlcj] 2011 ls uke:i&iii ds fy, ÅtkZ dh [kir de gqbz gsa uke:i&iii l;= dks LFkk;h vkèkkj ij 100% ls Åij Hkkj ij izpkfyr fd;k x;k Fkk vksj fof'k"v ÅtkZ [kir dks 10 thdsy@eh- Vu ;wfj;k ls de ij yk;k tk ldk FkkA uke:i&ii l;=ks dks izkñfrd xsl miyc/krk es lhek ds dkj.k 50% Hkkj ij izpfyr fd;k tk ldk FkkA rfkkfi] LFkk;h izpkyu ds dkj.k uke:i&ii l;= iqu#)kj ds ckn ls o"kz ds nksjku mppre veksfu;k vksj ;wfj;k mriknu gh izkir dj ldk FkkA dkiks Zjs'ku us dks esllz vkw;y bfm;k fyfevsm ds lkfk lqfuf'pr vk/kkj ij 1-72,e,e,llh,lMh izkñfrd xsl dh vkiwfrz ds fy, u;k xsl vksj Ø; djkj ¼th,lih,½ fd;k gsa ;g ANNEXURE-I TO DIRECTOR'S REPORT MANAGEMENT DISCUSSION AND ANALYSIS REPORT 1. BUSINESS Brhmputr Vlley Fertilizer Corportion Limited (BVFCL) incorported in the yer 2002 is Schedule 'B' ctegory Centrl Public Sector Enterprise (CPSU) under the dministrtive control of the Ministry of Chemicls & Fertilizers, Deprtment of Fertilizers (DOF), Govt of Indi. BVFCL is engged in the mnufcture of Ure, Biofertilizers, Vermi-Compost mnure t Nmrup (Assm) nd trding of Seeds, Pesticides, Fertilizers (MOP,DAP/SSP). Corportion is mrketing its products under the brnd nme "Mukt". 2. OVERVIEW The finncil yer ws n eventful yer for the Compny when mjor renovtion jobs for Nmrup-II nd Nmrup-III Plnts could be successfully completed. This hs resulted increse in production with less consumption of energy for Nmrup-III since December Nmrup-III Plnt could be operted t bove 100% lod on sustined bsis nd specific energy consumption could be brought down below 10 Gcl/MT of ure. Nmrup-II Plnts could be operted t 50% lod only due to limittion in Nturl Gs vilbility. However, due to sustined opertion, Nmrup-II Plnts could chieve highest mmoni nd ure production during the yer since revmping. The corportion hs executed new gs Supply nd Purchse Agreement (GSPA) for supply of 1.72 MMSCMD of Nturl Gs on firm bsis with M/S Oil Indi Ltd on

30 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm djkj ls rd izhkkoh jgsxk vksj bls ijlij lger fuc/ku,o 'krks ij ikp o"kz dh vkxkeh vof/k ds fy, uohdj.k fd;k tk ldrk gsa ppkz ds nksjku] vksvkbz,y ls vfrfjdr xsl dh vkiwfrz djus dk vuqjks/k fd;k x;k Fkk rkfd uke:i&ii l;=ks dks iwjs yksm ij pyk;k tk ldsa mugks us fudv Hkfo"; es fdlh vfrfjdr xsl dh vkiwfrz djus e s viuh v{kerk O;Dr dh gsa rfkkfi] mugk sus vk'oklu fn;k fd czg~eiq= ØSdlZ,M ikwyhelz fyfevsm dh LFkkiuk ds ckn ;fn u, dq vks ds vuos"k.k ds dkj.k mug s dksbz vfrfjdr xsl miycèk gksrh gs rks Hkfo"; es flfkfr dh leh{kk dh tk,xha diuh dh nh?kkzof/k O;ogk;Zrk ds fy, u, czkmuqhym veksfu;k ;wfj;k l;= ¼uke:i&IV½ dh LFkkiuk djus ds,d izlrko ij fopkj fd;k tk jgk gsa izlrkfor ifj;kstuk dh l;qdr m e ds vrxzr LFkkiuk dh tk,xha ;kstuk vk;ksx us izlrko dks vuqeksnu iznku fd;k gsa diuh es dezpkfj;ks dh l[;k dkqh de gsa ;gk fo'ks"kdj e/;e vksj ofj"b Lrj ij dq'ky tu'kfdr dh vr;f/kd deh gsa dq'ky vksj vuqhkoh tu'kfdr dh HkrhZ djus ds iz;kl fd, x, gs ysfdu okfnr lqyrk ugh feyh gs & bldk dkj.k LFkkuh; flfkfr dk vpnk u gksuk vksj choh,qlh,y es osru <kpk dkqh de gsa 3- m ksx <kpk vksj ljdkjh uhfr% Hkkjr,d Ñf"k iz/kku ns'k gs vksj bles mozjd dkqh egro j[krk gs rfkk jk"vª ds izfr bldh cm+h fteesnkjh gsa jklk;fud mozjdks us gfjr Økfr dh lqyrk es egroiw.kz Hkwfedk fuhkkbz gs vksj ifj.kkelo:i ns'k [kk kuu mriknu es vkre&fuhkzj gqvk gsa Hkkjr ljdkj ns'k es mozjdks dh miyc/krk vksj [kir c<+kus ds fy, yxkrkj vuqdwy uhfr;k viuk jgh gsa ukbvªkstu ¼,u½ vksj QkWLQksjl ¼ih½ mozjdks dk mriknu o"kz 1950&51 es ek= 0-3 yk[k eh- Vu ls c<+dj o"kz 2011&12 es iks"kd&rroks ds vuqlkj This greement is effective from to nd renewble for further period of five yers on mutully greed terms nd conditions. During the discussion, OIL ws requested for supply of dditionl gs so tht Nmrup-II Plnts could be operted t full lod. They expressed their inbility to supply ny dditionl gs in ner future. However, they ssured to review the position in future if dditionl gs is vilble with them due to explortion of new wells fter commissioning of Brhmputr Crckers & Polymers Limited. For long term vibility of the Compny, proposl for setting up new brown field mmoni ure plnt (Nmrup-IV) hs been under considertion. The proposed project will be set up under Joint Venture. The plnning commission hs ccorded pprovl to the proposl. The mnpower position of the Compny remins criticl with cute shortge of skilled mnpower especilly in middle nd senior level. Efforts hve been mde to recruit skilled nd experienced mnpower without desired success - the reson being its loctionl disdvntge nd lower slry structure in BVFCL. 3. INDUSTRY STRUCTURE & GOVERNMENT POLICY: Indi is n griculture bsed country nd the fertilizer industry hs immense importnce nd responsibilities towrds the ntion. The Government of Indi hs been constntly pursuing policies conducive to incresed vilbility nd consumption of fertilizers in the country. The production of Nitrogen (N) nd Phosphorus (P) fertilizers together hs incresed from mere 0.3 lkh MT in to bout lkh MT in nutrients terms in 28

31 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm yxhkx yk[k eh-vu gks x;k gsa o"kz 2011&12 ds nksjku dqy ;wfj;k mriknu yk[k eh- Vu dh [kir dh rqyuk es yk[k eh- Vu FkkA o"kz 2011&12 ds nksjku ns'k es ;wfj;k dk dqy mriknu yk[k eh- Vu ;wfj;k dh vuqekfur fcøh dh rqyuk es yk[k eh- Vu FkkA [kir dh rqyuk es Lons'kh mriknu dh deh dks ;wfj;k dk vk;kr djds iwjk fd;k x;k FkkA iwjs iwoks ZRrj vksj mrrjh Hkkjr es,dek= ;wfj;k dk mriknu djus ds dkj.k choh,qlh,y ij fdlkuks dks le; ij ;wfj;k dh vkiwfrz djus dh fteesnkjh gsa vf[ky Hkkjr vkslr dh rqyuk es iwoks ZRrj es mozjdks dh [kir de gsa o"kz 2011&12 es ds vf[ky Hkkjr vkdm+ks dh rqyuk es vle es izfr bdkbz ldy Qly {ks= l;= iks"kd rro ¼,u] ih 2 vks5 vksj ds vks½ dh [kir 69-5 fdxzk-@gsdvs;j FkhA blls irk pyrk gs fd vle 2 vksj vu; iwoks ZRrj jkt;ks es mozjdks dh [kir es o`f) dh lhkkouk gsa bu fcnqvks dks /;ku es j[krs gq, choh,qlh,y us uke:i es,d czkmu QhYM veksfu;k l;= yxkus dk izlrko fd;k gsa l;= ls izfro"kz 8-64 yk[k eh- Vu ;wfj;k dk mriknu gksxk vksj 5-4 thdsy@eh-vu ;wfj;k dh fof'k"v ÅtkZ ij 1-72,e,e,llh,eMh xsl dh [kir gksxha choh,qlh,y us vius ekstwnk Mhyj usvodz ds tfj, mozjdks dh fcøh &,evksih],l,lih vksj Mh,ih dk O;kikj Hkh 'kq: fd;k gsa mozjd {ks= es iks"kd&rro vk/kkfjr jktlgk;rk ¼,uch,l½ dks dk;kzfuor djus dk fu.kz; fy;k x;k gsa ljdkj us 1 vizsy 2010 ls xsj&;wfj;k mozjdks ds fy, iks"kd&rro vk/kkfjr jktlgk;rk uhfr igys gh ykxw dj nh gsa ;wfj;k ds ewy;ks dks eqdr djus rfkk mls iks"kd&rro vk/kkfjr jktlgk;rk uhfr ds vrxzr ykus dh :ijs[kk ij ljdkj }kjk fopkj fd;k tk jgk gsa orzeku es ],uch,l ;kstuk dks ;wfj;k ij ykxw ugh fd;k x;k gs vksj ;g vhkh Hkh ubz ewy; fu/kkzj.k ;kstuk&iii ¼,uih,l&III½ }kjk vf/k'kkflr gksrh gs Totl ure production during ws lkh MT ginst consumption of lkh MT. The shortfll in indigenous production ginst consumption ws met by importing ure. BVFCL, being the only ure mnufcturing unit in entire north-est nd estern Indi, hs responsibility of supplying timely ure to frmers. The consumption of fertilizers in north-est is low in comprison to ll indi verge. In the yer , consumption of plnt nutrients (N,P 2 O 5 & K 2 O) per unit of gross cropped re in Assm ws 69.5 kg/h ginst ll Indi figure of kg/h. This shows tht the fertilizer consumption in Assm nd other north-estern sttes hs potentil to grow. Keeping these points in view, BVFCL hs proposed to set up new brown field mmoniure plnt t Nmrup. Cpcity of the plnt will be to 8.64 Lkh MT of Ure per nnum consuming 1.72 MMSCMD of gs t specific energy of 5.4 Gcl/MT of Ure. BVFCL hs lso tken up trding business for sle of fertilizers - MoP, SSP nd DAP through its existing deler network. It hs been decided to implement Nutrient Bsed Subsidy (NBS) in fertilizer sector. The Government hs lredy introduced Nutrient Bsed Subsidy policy for non-ure fertilizers from 1st April The rod mp to free the prices of ure nd bring it under the Nutrient bsed subsidy policy remins under considertion of the Government. Presently, NBS scheme hs not been implemented on ure nd it continues to be governed by New Pricing Scheme-III (NPS-III) 29

32 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ftls vxyk vkns'k gksus rd vufre :i ls c<+k;k x;k gsa 4- mriknu fu"iknu dh leh{kk o"kz 2011&12 ds nksjku uke:i&ii vksj uke:i&iii l;= nksuks ds fu"iknu es lexz lq/kkj gqvk gs ftldk uhps myys[k fd;k x;k gs% o"kz ds nksjku es uke:i&ii ;wfj;k vksj veksfu;k mriknu ¼iqu#)kj ds ckn½ es Øe'k% 1]02]267 eh- Vu rfkk 76]976 eh-vu mppre mriknu dj ldk FkkA uke:i&ii ds ;wfj;k dh fof'k"v ÅtkZ [kir ds de djds o"kz ds fy, ;wfj;k rd yk;k tk ldk tksfd iquzmèkkj ds ckn U;wure gsa uke:i&iii dks 100% Hkkj ls vf/kd ij izpkyu fd;k x;k Fkk rfkk fof'k"v ÅtkZ [kir dks flfksfll dovzj us uohdj.k dk;z djus ds ckn nsfud vk/kkj ij 10 ls de ij yk;k tk ldk FkkA o"kz 2011&12 ds nksjku uke:i&iii l;=ks es ;wfj;k dk mriknu 1]76]622 eh- Vu rfkk veksfu;k dk mriknu 93]929 eh- Vu FkkA ;wfj;k&iii l;= dk {kerk mi;ksx 65-42% vksj veksfu;k&iii l;= dk 56-11% FkkA veksfu;k&iii l;= ds fy, fof'k"v ÅtkZ [kir 15-89,eds Fkh rfkk ;wfj;k l;= es yxhkx FkhA o"kz ds nksjku l;=ks dks eq[; iqu#)kj dk;ks rfkk vfu/kkzfjr cz sdmkmu ds fy, 140 fnuks ds fy, cn fd;k x;k FkkA mpp yksm ij eku:i&ii l;= dk izpkyu djus es lcls cm+h ck/kkvks es ls,d izkñfrd xsl dh vkiwfrz 1-72,e,e,llh,eMh rd lhfer gsa blls uke:i&ii dk vf/kdre l;= Hkkjr 50% rd which hs been extended provisionlly until further orders. 4. REVIEW OF PRODUCTION PERFORMANCE: There hs been overll improvement in performnce of both Nmrup-II nd Nmrup-III Plnts during the yer s stted below: Nmrup-II could chieve highest ure nd mmoni production (fter revmp) of 1,02,267 MT nd 76,976 MT respectively during the yer. The specific energy consumption of ure of Nmrup-II could be brought down to Gcl/MT of ure for the yer which is lowest (fter revmp). Nmrup-III could be operted t bove 100% lod nd specific energy consumption could be brought down below 10 Gcl/MT on dily bsis fter crrying out renovtion job in Synthesis Converter. During the yer , in Nmrup - III plnts, ure production ws 1,76,622 MT nd mmoni production ws 93,929 MT respectively. Cpcity utiliztion of Ure - III Plnt stood t 65.42% nd tht for Ammoni - III Plnt stood t 56.11%. Specific energy consumption for Ammoni Plnt ws Gcl/MT of Ammoni nd tht of Ure Plnt ws bout GCl/MT of Ure. During the yer, plnts remined shut down for 140 dys to crry out mjor renovtion jobs nd unscheduled brekdowns. One of the mjor impediments in operting Nmrup-II Plnt t higher lod remined limittion in Nturl Gs supply to 1.72 MMSCMD. This hs restricted mximum plnt 30

33 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm lhfer gks x;k gsa uke:i&ii l;=ks dk fu"iknu Hkh izkslsl jsfýtjs'ku diz s'kj ds dwyjks vksj dms ljks e s V~;wc iqu#)kj fd, x, xsl ckw;yj ds igys dikvzes V ls V~;wc 'khv ls fjlko gksus rfkk vu; [kjkch ds dkj.k izhkkfor gqvk FkkA bu lel;kvks dks de djus ds fy, dne mbk, x, gs] ifj.kkelo:i l;=ks ds fu"iknu es lq/kkj gqvk gsa rfkkfi] uke:i&ii l;= iqjkuh izks ksfxdh] ckj&ckj midj.kks ds [kjkc gksus rfkk ewy Lis;j ikvz dh miyc/k u gksus ds dkj.k ixq cus gq, gsa o"kz 2011&12 ds nksjku uke:i&iii l;= es fd, x, izeq[k ejeer dk;ks us dsvsfylv lfgr,l&200 ckwldsv }kjk veksfu;k flfksfll,l&100 ckwldsv] okvj dwym dms lj] ch,qmcy;w ghvjks ] flfksfll xsl diz s'kj xsl dms 'kj ds mpp ncko okys dwyjks ] izkfkfed fjqkezj cuzjks vkfn dks cnyk x;k FkkA diuh us o"kz 2011&12 ds nksjku eh-vu tso&mozjdks dk mriknu fd;k FkkA 5- Hkkoh n`f"vdks.k vksj orzeku o"kz ds fy, igy o"kz 2011&12 ds nksjku fueufyf[kr uohdj.k dk;ks Z dks lqyrkiwozd iwjk fd;k x;k% veksfu;k&iii l;= ds flfksfll dovzj ckwldsv dh jsvªksfqfvxa veksfu;k&iii l;= ds mpp ncko okys ghv,dlps tjks ¼okVj dwym dms lj vksj ch,qmcy;w ghvjks ½ dks cnyuka mpp ncko vrj&pj.kh; dwyjks dks cnyuk@ uke:i&ii ds flfksfll xsl diz s'kj ds ckbzikl dwyjks dk iqu% izpkyua uke:i&ii es u, muur cuzjk s ds lkfk izkfkfed fjqkezj cuzjks dks cnyuka xsl VckZbu tsujsvj dh jsvªksfqfvx@o;kid ejeera lod of Nmrup-II to 50%. The performnce of Nmrup-II Plnts ws lso ffected due to tube lekge in coolers nd condensers of Process Refrigertion Compressor, tube sheet of first Comprtment of Reformed Gs Boiler nd other brekdowns. Steps hve been tken to mitigte these problems resulting in improvement in performnce of the plnts. However Nmrup-II plnts re plgued by obsolete technology, frequent equipment filures nd non vilbility of originl spres. In Nmrup-III, mjor renovtion jobs crried out during the yer were replcement of mmoni synthesis S-100 bsket by S-200 bsket long with ctlyst, Wter Cooled condenser, BFW Heters, high pressure Coolers of Synthesis Gs Compressor, Primry Reformer Burners etc. The compny produced MT of Bio Fertilizer during FUTURE OUTLOOK AND INITIATIVE FOR THE CURRENT YEAR Following renovtion jobs were completed successfully during the yer : Retrofitting of Synthesis converter bsket of A-III plnt. Replcement of High Pressure het exchngers (Wter Cooled Condenser & BFW Heters) of Ammoni-III Plnt. Replcement of High Pressure Interstge Coolers/Recirculting Bypss Cooler of Synthesis Gs Compressor of Nmrup-III. Replcement of Primry Reformer Burners with new improved burners in Nmrup-III. Retrofitting/Overhuling of Gs Turbine Genertor-II. 31

34 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm veksfu;k&ii es ihvkjlh ds dms ljks dh V~;wcks dks mlh LFkku ij cnyuka veksfu;k&ii es izkfkfed fjqkezj dsvsfylv dks cnyuka uke:i&ii vksj uke:i&iii es dizs'kjks vksj iiks dh ejeer djuka mi;q ZDr ;kstukvks ds iwjk gksus ij uke:i&iii l;=ks dks 110% ds vkslr yksm ij izpkfyr fd;k tk ldrk Fkk vksj fof'k"v ÅtkZ [kir dks?kvkdj 9-19 ij yk;k tk ldrk FkkA visf{kr lkefxz;k izkir gksus ij o"kz 2012&13 rd fueufyf[kr iqu#)kj dk;z iwjk fd, tkus dh ;kstuk gs % veksfu;k&ii es vkrfjd vksj muur xouzj iz.kkyh lfgr bz,eth VckZbu jksvj dk iqu#)kja veksfu;k&iii es vkjth ckw;yj ds V~;wc cmy dks cnyuka uke:i&ii es lq/kkjs x, xsl ckw;yj ds {kfrxzlr igys dikvze sv dks cnyuka uke:i&iii ds flfyx VkWoj <kps dh ejeera veksfu;k&ii ds {kfrxzlr lgk;d Qk;MZ ghvj dh ejeera VckZbu Mªkbo ls eksvj Mªkbo rd dwfyx okwvj ii dk muu;ua mi;q ZDr ;kstukvks ds dk;kzuo;u ds ckn lhkkfor miyfc/k;k fueu izdkj gks xh% uke:i&ii ds LVªhe fnuks es o`f)a uke:i&iii l;= izpkyu dh fo'oluh;rk es o`f)a 6- u, czkmu QhYM veksfu;k&;wfj;k l;= dh LFkkiuk % diuh ds yech vof/k ds fy, O;kogkfjd cukus gsrq In-situ replcement of tubes of condensers of PRC in Ammoni-II. Replcement of primry reformer ctlyst in Ammoni-II. Overhuling of compressors nd pumps in Nmrup-II nd Nmrup-III. On completion of bove schemes, Nmrup-III plnt could be operted t n verge lod of 110% nd specific energy consumption could be brought down to 9.19 Gcl/MT of ure. Following renovtion jobs re plnned to be completed by on receiving required mterils: Renovtion of EMG turbine rotor long with internls nd improved governor system in Ammoni-III. Replcement of tube bundle of RG Boiler in Ammoni-III. Replcement of dmged 1st Comprtment of Reformed Gs Boiler in Nmrup-II. Repir of Prilling Tower structure of Nmrup-III. Repir of dmged Auxiliry Fired Heter dismntling of Ammoni-II. Upgrdtion of Cooling Wter Pump from Turbine Drive to Motor drive. Expected Achievements fter implementing bove schemes will be s follows: Increse in on strem dys for Nmrup-II. Increse relibility of Nmrup-III Plnt opertion. 6. SETTING UP OF NEW BROWN FIELD AMMONIA-UREA PLANT: For long term vibility of the Compny, setting 32

35 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm uke:i es,d u;k czkmu QhYM veksfu;k&;wfj;k l;= yxkus gsrq,d izlrko ij fopkj fd;k x;k gsa izlrkfor l;= {kerk ls 5-4 ;wfj;k dh fof'k"v ÅtkZ ij 1-72,e,e,llh,eMh xsl dk mi;ksx djrs gq, izfro"kz 8-64 yk[k eh- Vu ;wfj;k dk mriknu fd;k tk,xka up new Brown field Ammoni-Ure Plnt (Nmrup-IV) t Nmrup hs been proposed. The proposed plnt cpcity would be to produce 8.64 Lkh MT of Ure per nnum consuming 1.72 MMSCMD of gs t specific energy of 5.4 Gcl/MT of Ure. The project will be set up under Joint Venture. esllz vkw;y bfm;k fyfevsm vksj,uvkj,y ¼uqekyhx<+ fjqkbujh fyfevsm½ us l;qdr m e es Øe'k% 26% vksj 11% dh bfdovh Hkkxhnkjh ysus dh bpnk trkbz gsa vle ljdkj us mdr l;qdr m e es 11% bfdovh 'ks;j ysus dh viuh flfkfr dh Hkh iqf"v dh gsa choh,qlh,y dk ;ksxnku ifjlifrr;ks ds :i e s gksxka futh {ks= dh,d diuh esllz] th,u,qlh ¼xqtjkr ueznk osyh QfVZykbtj diuh fyfevsm½ us fu;=.k nkoks lfgr l;qdr m e es bfdovh Hkkxhnkjh ysus es Hkh #fp fn[kykbz gsa M/s Oil Indi Ltd nd NRL (Numligrh Refinery Ltd) hve shown willingness to tke equity prticiption to the extent of 26% nd 11% in the JV. The Government of Assm hs lso firmed up its position to tke 11% equity shre in the sid JV. Contribution of BVFCL will be in the form of ssets. A privte sector compny, M/S GNFC (Gujrt Nrmd Vlley Fertilizer Compny Ltd) hs lso shown interest in equity prticiption in the JV with controlling stke. ;kstuk vk;ksx ls fueufyf[kr ds fy, ^^ls)kfrd^^ vuqeksnu iznku djus dk vuqjks/k fd;k x;k Fkk% The plnning commission ws requested to ccord 'In Principle' pprovl for: ¼i½ choh,qlh,y] uke:i es u, czkmuqhym veksfu;k&;wfj;k l;= ¼pkSFkh bdkbz½ dh LFkkiukA (i) Instlltion of new Brown field Ammoni- Ure Plnt (4th Unit) t BVFCL, Nmrup. ¼ii½ futh {ks= dh difu;ks ls bfdovh Hkkxhnkjh ds fy, [kqyh cksyh vksj #fp dh vfhko;fdra (ii) Open bidding nd Expression of Interest for equity prticiption from privte sector compnies. ;kstuk vk;ksx us mi;q ZDr izlrko dks vuqeksnu ns fn;k gsa The plnning commission hs given ccord to the bove proposl. esllz ihmhvkbz,y dks Hkwfe dk ewy;kdu djus vksj ekstwnk lqfo/kkvks dks ykxw djus dk dk;z lksik x;k gs ftudk uke:i&iv ifj;kstuk es mi;ksx fd;k tk,xka 7- uke:i&ii vksj uke:i&iii dh ekstwnk flfkfr dk rqyukred v/;;u % choh,qlh,y us izkslsl ykbls ljks esllz,pvh,,l vksj ihmhvkbz,y dks ekstwnk l;=ks dk v/;;u djus M/s PDIL hs been entrusted the job crrying out vlution of lnd nd existing fcilities which would be utilized in Nmrup-IV project. 7. COMPREHENSIVE STUDY OF EXISTING OF NAMRUP-II AND NAMRUP-III: BVFCL engged Process Licensors M/s. HTAS & PDIL for thorough study of the existing 33

36 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm vksj ekstwnk l;=ks ds iqu#)kj ds fy, mik; lq>kus ds fy, fu;qdr fd;k gs rkfd l;= mriknu vksj fof'k"v ÅtkZ [kir ds lc/k es ubz ih<+h ds mozjd l;=ks ds ekudk s ds led{k mriknu dj lds A nksuks l;=ks }kjk l;=ks dk v/;;u djk;k x;k Fkk vksj vfre fjiksvz 19 vxlr] 2011 dks izlrqr dh xbz FkhA fjiksvz ds v/;;u ls irk pyrk gs fd iquokzl fodyi O;ogk;Z ugh FkkA v/;;u fjiksvz ds vk/kkj ij ihmhvkbz,y }kjk chvkjih,lbz dh izlrqfr ds fy, diuh dh nh?kkzofèk O;ogk;Zrk dk,d O;kid izlrko rs;kj fd;k FkkA MhihbZ ds l'kksf/kr Qkes ZV e s rfkk dks izlrqr fd;k x;k FkkA 8- 'kfdr;k vksj dfe;k diuh dh 'kfdr;k% ;g iwjs vle] iwoks ZRrj jkt;ks ] if'pe cxky vksj fcgkj es ;wfj;k dk mriknu djus okyh,dek= diuh gs tgk 26 yk[k eh- Vu rd dh vkiwfrz dh vhkh Hkh deh gsa bdkbz QhYM@bZ /ku,uth ds lzksr ds lehi gs rfkk,uth dh ewy; ykxr de gsa bdkb;ks es mriknu dh U;wure liw.kz ykxra Hkkjr ds iwoks ZRrj jkt;ks dks vu; nwjlfk jkt;ks es flfkfr difu;ks ls ;wfj;k dh vkiwfrz gsrq ifjogu dh mpp ykxr de gksxha Ukke:i bdkb;ks ds xsl l`tu fcnqvks ds fudv gksus ds dkj.k izkñfrd xsl dh ifjogu ykxr de gksxha vle vksj vu; iwoks ZRrj jkt;ks es jkstxkj dk izr;{k vksj vizr;{k l`tu] tks eq[;r% vkffkzd :Ik ls finm+k {ks= gsa plnts nd suggest mesures for renovtion of the existing plnts so tht the plnts re ble to produce equivlent to the stndrds of the present genertion fertilizer plnts in respect of production nd specific energy consumption. The study of plnts ws crried out by both prties nd the finl report ws submitted on 19th August The study of the Report revels tht rehbilittion option is not vible. Bsed on the study report, comprehensible proposl for Long Term Vibility of the Compny ws prepred by PDIL for submission to BRPSE. The vibility proposl ws submitted to DoF on nd on in revised formt of DPE. 8. STRENGTH AND WEAKNESS The strengths of the compny: It is the only ure producing compny in the entire Assm, North-Estern Sttes, West Bengl nd Bihr where still supply shortfll to the extent of 26 Lkh MT exists. The unit being close to the source of Feed/ Fuel NG nd lower bsic cost of NG. Lower bsolute cost of production in the units. It will offset high cost of trnsporttion for supply of Ure from compnies situted in other distnt sttes to the North-Estern sttes of Indi. Lower trnsporttion cost of the nturl gs becuse of loction of Nmrup plnts ner to the gs genertion points. Direct nd indirect genertion of employment in the sttes of Assm & other North- Estern sttes, which re predominntly economiclly bckwrd. 34

37 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm diuh dh [kkfe;k % bdkb;ks es iqjkuh izks ksfxdh viukbz xbz gsa l;=ks dk vf/kd iqjkuk gksuka iqjkukiu@fuf/k lel;k ds dkj.k vfrfjdr iqtks dk miyc/k u gksuka dq'ky vksj izf'kf{kr tu'kfdr dk miyc/k u gksuka 9- eq[; volj vksj [krjs diuh ds volj % im+kslh ns'kks dks ;wfj;k dk fu;kzr djus dh lhkkouka jlk;uks ds mriknu rfkk fo qr l`tu ds fy, fofofèkdj.k dh lhkkouka,dy en ;wfj;k foi.ku ls vu; fdlku@ñf"k mriknks es fofof/kdj.ka ubz czkmu QhYM ifj;kstuk dh LFkkiuk djuka diuh ds tksf[ke % vu; vk/kqfud izks ksfxdh okyh ;wfj;k mriknu difu;ks ls izfrli/kkz ftudh ÅtkZ [kir vksj mriknu ykxr de gsa vrjkz"vªh; cktkj es ;wfj;k ds ewy; dk vr;f/kd mrkj&p<+ko rfkk vk;kr dh NwV nsuka fj;k;rh nj ij izkñfrd xsl dh vkiwfrz dks cuk, j[kus dh vfuf'prrka esllz vkw;y bfm;k ls de ls de 0-23,e,e,llh,eMh izkñfrd xsl dh lqn`<+ izfrc)rka ubz ewy;&fu/kkzj.k iz.kkyha mriknu rfkk vo;ogk;zrk dh mpp ykxr ds ifj.kkelo:i iqjkus izks ksfxdh l;=ks ds dkj.k diuh dks cn djuka The Wekness of the compny: Old technology dpted in the units. Old ge of the plnts. Non-vilbility of spres due to obsolence/ fund constrint. Non-vilbility of skilled & trined mnpower. 9. KEY OPPORTUNITIES AND THREATS The Opportunities to the compny: Scope for exporting of ure to neighbouring sttes. Scope for diversifiction to produce chemicls nd genertion of power. Diversifiction into other frmer/griculturl products from single item Ure Mrketing. Setting up new brown field project. The Threts to the compny: Competition from other ure mnufcturing compnies hving lower Energy consumption nd lower cost of production. Highly fluctuting prices of ure in the interntionl mrket nd opening of import. Uncertinty of continution of supply of Nturl Gs t concessionl rte. Firm commitment of tlest 0.23 MMSCMD Nturl Gs from M/s OIL Indi Limited. New Pricing Mechnism Closure of the compny due to high cost of production & un-vibility. 35

38 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 10- i;kzoj.k vksj lqj{kk ekud dk vuqikyu czg~eiq= osyh QfVZykbtj dkikszjs'ku fyfevsm ¼choh,Qlh,y½ uke:i i;kzoj.k vksj lqj{kk dk;z i)fr;ks ds lj{k.k ds dk;z ds fy, izfrc) gsa diuh ekud lqj{kk ekun.mks dk ikyu djds i;kzoj.k lqjf{kr vksj tksf[keeqdr dk;z ifjos'k dh lqj{kk dh fn'kk es dk;z djus ds fy, izfrc) gsa lqj{kk uhfr dk dk;kzuo;u rfkk lqjf{kr dk;z dh i)fr dh fu;fer vk/kkj ij fuxjkuh dh tkrh gs rfkk mls O;fDrxr lj{k.k midj.kks ¼ihihbZ½ dks tkjh djds lqn`<+ fd;k tkrk gs] dk;z es ihihbz dk iz;ksx fd;k tkrk gs] dezpkfj;ks ds LokLF; dh le; ij tkp dh tkrh gs] LFky ij ls lcf/kr dk;z lqj{kk dh tkrh gsa diuh es,d lqo;oflfkr QkW;j fczxz sm gs] tks lhkh fu;fer vko';drk dks iwjk djrh gs rfkk ;g QSDVjh es vksj mlds vklikl ds {ks= es vkikr dks de djus dh lhkh fu;fer vko';drk vksj {kerk dks iwjk dj jgh gsa blds vykok] choh,qlh,y ftyk Lrjh; ijlij lgk;rk ;kstuk ¼,e,,l½ dk lnl; gs ftle fmcz wx<+ vksj frulqfd;k ftyks ds m ksxks vksj lkoztfud llfkkuks dks 'kkfey fd;k x;k gsa bl ;kstuk ds vrxzr diuh vius futh ifjljks es le; ij ekwdfmªy dk vk;kstu djrh gs vksj fdlh vkink@vkikrdky ls fuivus ds fy, viuh rs;kjh dks muur cukus gsrq dgh Hkh vk;ksftr fmªy es Hkkx ysrh gsa choh,qlh,y dh vkink izc/ku ;kstuk dks vle vkink izc/ku izkf/kdj.k ¼,,lMh,½ ds ekxzn'kzu e s muur cuk;k x;k gs] ftls eq[; QSDVjh fujh{kd] vle vksj,,lmh, dks izlrqr fd, tkus dh vko';drk gsa bl izdkj] choh,qlh,y,,lmh, ls vksj ftyk Lrjh;,e,,l ds lnl;ks dks O;kid vkink izc/ku@mi'keu lgk;rk lqfuf'pr djrk gsa choh,qlh,y uke:i i;kzoj.k dh lqj{kk ds fy, izfrc) gsa diuh lhkh lxr vksj vkfn dk ikyu dj jgk gs vfkkzr~ ty ¼iznw"k.k dh jksdfkke vksj fu;=.k½ vfèkfu;e] 1974] ok;q ¼iznw"k.k dh jksdfkke vksj 10. COMPLIANCE OF ENVIRONMENT & SAFETY STANDARD Brhmputr Vlley Fertilizer Corportion Ltd.(BVFCL) Nmrup, is committed to work for the protection of environment nd sfe work prctices. The compny hs been ensuring protection of environment, sfe nd hzrd free working environment by following stndrd sfety norms. Implementtion of sfety policy nd prctice of sfe working re monitored on regulr bsis nd strengthened by issunce of Personl Protective Equipments (PPE), enforcing use of PPEs t work, periodicl employee helth check up, conducting work sfety relted drills/lectures/demonstrtions t site. The compny is mintining well equipped Fire Brigde, which is meeting ll regulr need & cpble of mitigting emergency inside the Fctory nd in the surroundings. Further, BVFCL is member of District level Mutul Aid Scheme(MAS) covering the Industries nd Public Institutions of Dibrugrh & Tinsuki Districts. Under this scheme the compny orgnizes periodic mock drills in its own premises nd ctively prticiptes in drills conducted elsewhere to upgrde its prepredness to meet ny disster/ emergencies. Disster Mngement Pln of BVFCL hs been updted under the guidnce of Assm Disster Mngement Authority (ASDA), which is required to be submitted to Chief Inspector of Fctories, Assm nd ASDA. BVFCL thus ensures lrger disster mngement/mitigtion ssistnce in need from ASDA nd members of district level MAS. Nmrup-III plnts of BVFCL is n ISO 14001:2004 EMS complint unit nd exctly sme stndrd work prctices re in plce in other operting unit (Nmrup-II). This hs mde us esy to comply with the pplicble 36

39 s Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fu;=.k½ vf/kfu;e] 1981 Ik;kZoj.k lqj{kk vf/kfu;e] 1986 ty ¼iznw"k.k dh jksdfkke vksj fu;=.k½ midj vf/kfu;e] 1977] lkoztfud ns;rk chek vf/kfu;e] 1991] csvfj;k ¼izc/ku vksj gs.mfyx½ fu;e] 2001 vkfna lhkh foojf.k;k@fjiksvz vkfn] ftug s vkns'kks ds vuqlkj izlrqr fd;k tkuk gs] dks le; ij fu;fer :i ls izlrqr fd;k tk jgk gsa iznw"k.k fu;=.k cksmz] vle dks ty vf/kfu;e vksj ok;q vf/kfu;e ds vuqlkj fuozgu djus dh lgefr ds uohdj.k dh fu/kkzfjr rkjh[k ds vrxzr fu;fer :i ls vkosnu izlrqr fd;k tkrk gsa lkoztfud ns;rk chek vf/kfu;e] 1991 ds vrxzr 15 djksm+ #i, dh,d uhfr ykxw dh xbz gs ftlls vkink dh flfkfr es vklikl ds yksxks dks chek dojst nh tk ldsa ifjos'kh ok;q xq.korrk fuxjkuh ekud 2010 ds vuqlkj fu;=.k vksj fuxjkuh lqfo/kkvks dks lrr~ muur cukus ds iz;kl es,d ih,e 2-5 vkj,lih,e fo'ys"kd dh lqyrkiwozd LFkkiuk dh xbz gsa uke:i&ii es izkfkfed fjqkezj vksj lgk;d ckw;yj ds fy, vkwuykbu yw xsl fo'ys"kd dh Hkh gky es lqyrkiwozd LFkkiuk dh xbz gs] tks uke:i&iii l;=ks es miyc/k lqfo/kk ds leku gsa dsunzh; iznw"k.k fu;=.k cksmz] f'kykx ls oskkfudks ds,d ny us twu] 2012 es choh,qlh,y dk nksjk fd;k Fkk vksj lhkh iznw"k.k fuxjkuh lqfo/kkvk s dh tkp dh Fkh vksj lhkh dkuwuh ekudks ds vuqikyu ds lc/k es viuk lrks"k O;Dr fd;k FkkA rfkkfi] ;fn lxr dks vf/kd dm+k cuk;k tkrk gs rks choh,qlh,y dks lhkh ykxw 'krks dk ikyu djus es dfbukbz dk lkeuk djuk im+ ldrk gsa choh,qlh,y dh iqjkuh izks ksfxdh ds dkj.k ;kstuk vk;ksx }kjk nh xbz lykg ds vuqlkj bvjusv vk/kkfjr lrr~ vkwuykbu iznw"k.k fuxjkuh iz.kkyh dk vuqikyu djuk dfbu gksxka QfVZykbtj,lksfl,'ku vkwq bfm;k ¼,Q,vkbZ½ ds ek/;e ls lws/rules/ stndrds such s Wter (Prevention & Control of Pollution) Act 1974, Air (Prevention & Control of Pollution) Act 1981, Environment Protection Act 1986, The Wter (Prevention & Control of Pollution) Cess Act, 1977, Public Libility Insurnce Act 1991, Btteries (Mngement & Hndling) Rules 2001 etc. All the returns/reports etc., which re required to be submitted s per vrious lws/rules/govt. orders re being submitted regulrly in time. "Consent to Dischrge" from the Pollution Control Bord, Assm is regulrly obtined s per Wter Act nd Air Act. BVFCL subscribes to n Insurnce of trget vlue Rs.15 crores under Public Libility Insurnce Act 1991 to provide insurnce coverge to the nerby people likely to be ffected by ny environmentl issues. In the effort towrds continuous upgrding of control & monitoring fcilities s per Ambient Air Qulity Monitoring Stndrd 2010, PM2.5 RSPM nlyzer hs been instlled successfully. Online flue gs nlyzer for Primry Reformer nd Auxiliry Boiler in Nmrup-II hs lso been successfully commissioned recently, which is similr to the fcility in Nmrup-III plnts. A tem of Scientists from Centrl Pollution Control Bord, Shillong visited BVFCL in June-2012 nd checked ll the pollution monitoring fcilities nd expressed their stisfction regrding complince of ll legl stndrds. However, if the relevnt norms/stndrds re mde more stringent, then BVFCL my fce difficulty to dhere to ll pplicble stipultions. Becuse of vintge nd obsolete technology of BVFCL it my be difficult to comply with the internet bsed continuous online pollution monitoring system, s dvised by the Plnning Commission. The limittions hve been 37

40 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm dsunzh; iznw"k.k fu;=.k cksmz ¼lhihlhch½ dks lhekvks ls voxr djk fn;k x;k gsa blds vykok] QSDVjh ifjlj es lkf[;k vksj Øksfe;e vif'k"v ¼izc/ku vksj gs.mfyx½ fu;e 1989 ds vuqlkj fuivku ugh fd;k tk ldk Fkk D;ks fd] iznw"k.k fu;=.k cksmz 'krz ds vuqlkj iwoks ZRrj {ks= es lkeku; mipkj Hk.Mkj.k fuivku lqfo/kk ¼Vh,lMh,Q½ miyc/k ugh FkhA 11- foi.ku leh{kk leh{kk/khu o"kz ds nksjku diuh dh foi.ku xfrfofèk;k fueu izdkj jgh % d- futh mrikn%& 1- eqdrk ;wfj;k%& Ñf"k iz;kstu ds fy, 2]28] eh- Vu eqdrk ;wfj;k dh fcøh dh xbz FkhA 2- ;wfj;k mozjdks dk fu;kzr%& vk;kr leewy; ds vrxzr usiky dks 47]500 eh-vu ;wfj;k dk fu;kzr fd;k x;k FkkA 3- tso&mozjd%& eh-vu tso&mozjdks dh fcøh dh xbz ftudk ewy; yk[k #i, FkkA 4- Ñfe&[kkn%& eh-vu Ñfe&[kkn] ftldk ewy; 2-96 yk[k #i, Fkk] dh fcøh dh xbza [k- O;kikj mrikn%& choh,qlh,y us fofhkuu Ñf"k vknkuks ds O;kikj dk;zdyki 'kq: fd, gs vksj fofhkuu ck/kkvks ds ckotwn o"kz 2011&12 ds nksjku fueufyf[kr O;kikj dk;zdyki fu"ikfnr fd, g S% 1-,evksih mozjd%& yk[k #i, ewy; dh 20] eh- Vu,evksih mozjdk s dh fcøh dh xbz FkhA 2-,l,lih mozjd%& yk[k #i, ewy; ds 11] eh- Vu,l,lih mozjdk s dh fcøh dh xbz FkhA communicted to Centrl Pollution Control Bord (CPCB) through Fertilizer Assocition of Indi (FAI). Moreover, some quntity of Arsenic nd Chromium Wstes, removed from discrded process re kept in seled RCC chmbers within the fctory premises, which could not be disposed s per Hzrdous Wste (Mngement & Hndling) Rule 1989 becuse non existence of common Tretment Storge Disposl Fcility (TSDF) in the North Estern region s per Pollution Control Bords stipultion. 11. MARKETING REVIEW During the yer under review, compny hs following mrketing ctivities : A. Own products:- 1. Mukt Ure:- 2,28, MTs of Mukt ure for Agriculture purpose ws sold. 2. Export of Ure fertilizer:- 47,500 MTs of ure ws exported to Nepl under Import Prity Price. 3. Bio-Fertilizers: MTs of Bio-fertilizers vlued Rs Lcs ws sold. 4. Vermi-Compost: MTs of Vermi Compost vlued Rs Lcs ws sold. B. Trded Products:- BVFCL hs strted trding ctivities of vrious Agri inputs nd performed following trding ctivities during despite vrious constrints : 1. MOP Fertilizers:- 20, MTs of MOP fertilizer vlued Rs Lcs ws sold. 2. SSP Fertilizers:- 11, MTs of SSP fertilizer vlued Rs Lcs ws sold. 38

41 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 3- [kk kuu cht%& yk[k #i, ewy; ds eh- Vu fcøh dh xbz FkhA 4- lcth ds cht%& yk[k #i, ewy; ds 1-00 fd-xzke lcth ds chtks dks cspk x;k FkkA 5- dhvuk'kd%& yk[k #i, ewy; ds 1]06]795 dhvuk'kd ek=k dh fcøh dh xbz FkhA mi;q ZDr O;kikj dk;zdykiks ls choh,qlh,y us finys forrh; o"kz 2010&11 ds nksjku yk[k #i, ds dqy dkjksckj ls yk[k #i, dh rqyuk es forrh; o"kz 2011&12 ds nksjku yk[k #i, ds okf"kzd dkjksckj ls yk[k #i, dk fuoy ykhk vftzr fd;k gsa foi.ku es 'kkfey fofhkuu ykxr dks de djus ds fy, lrr~ iz;kl fd, tk jgs gs tsls HkkM+k rdzlxr] xksnke es Hk.Mkj.k ls cpus ds fy, vle es VSd IokbV ls izr;{k fcøh djus] lm+d ifjogu ykxr dks U;wure djus] futh xksnke ds tfj, rfkk NwV ds fcuk fcøh djuka x- Ñf"k lo/kzu dk;zøe ¼,ihih½%& czkm dh Nfo es lq/kkj djus rfkk fdlkuks dh mrikndrk dks c<+kus ds fy, lhfer ctv llk/kuks ds lkfk dk;zdyki ykxw fd, tk jgs Fks] eq[;r% loèkzu dk;zdykiks dks fueufyf[kr dk;zøeks ds vrxzr ykxw fd;k x;k FkkA I. fdlku izf'k{k.k dk;zøe eq[;r% iwoks ZRrj jkt;ks es gekjh foi.ku lhek ds fdlkuks dks f'kf{kr djus ds fy, choh,qlh,y fdlku izf'k{k.k dk;zøeks dk fu;fer :i ls vk;kstu fd;k tk jgk gs ¼foRrh; o"kz 2011&12 ds nksjku 35 u-½a Ñf"k fodkl dsunz] d`f"k fohkkx ls LFkkuh; vf/kdkfj;ks lfgr {ks=h; vf/kdkfj;ks rfkk fo'ofo ky;ks ls Ñf"k oskkfudks us lrqfyr mozjd mi;ksx vksj vk/kqfud Ñf"k rduhdks ds fofhkuu igyqvks ij fdlkuks dks f'kf{kr djus ds fy, xkoks 3. Food grin Seeds: MTs of seeds (Pddy / Whet / Others) vlued Rs Lcs were sold. 4. Vegetble Seeds: Kgs of Vegetble seeds vlued Rs Lcs were sold. 5. Pesticides:- 1,06,795 Kilo/Liters qty. of Pesticides vlued Rs Lcs ws sold. From the bove trding ctivities, BVFCL hs generted net profit of Rs Lcs from nnul turnover of Rs Lcs during FY in comprison to Rs Lcs from totl turnover of Rs Lcs during lst FY Constnt efforts re being mde to reduce the vrious cost involved in mrketing such s freight rtionliztion, direct sle from rke point in Assm to void storge in godown, minimizing rod trnsporttion cost, sles through Pvt godown nd without ny rebte. C. Agriculture Promotionl Progrmmes (APP):- To improve the brnd imge s well s to increse the productivity of frmers, the ctivities were being crried out with limited budget resources, minly the promotionl ctivities were crried out under the following progrmmes. I. Frmers Trining Progrmmes To educte the frmers of our mrketing territory minly in N.E Sttes, BVFCL is regulrly conducting Frmers Trining Progrmmes (35 No's during FY ). Field officers long with locl officers from Krishi Viks Kendr, Agriculture Deprtment & Agriculture Scientist from Universities visiting Villges for educting the frmers on vrious spects of blnced fertilizer uses nd modern 39

42 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm dk nksjk fd;ka vf/kdk'k Ñ"kd leqnk; vf'kf{kr gs vksj mugs mozjdk s rfkk mrikn u dks c<+kus ds fy, viukbz tkus okyh vu; rduhdks ds mfpr mi;ksx dh cgqr de ;k fcydqy tkudkjh ugh gs vksj blds lkfk&lkfk eǹk LokLF; dks cuk, j[kuk im+rk gs ftu ij mudk thou vksj le`f) fuhkzj djrh gsa fdlku izf'k{k.k dk;zøeks ds nksjku fdlkuks dks [ksr ls fev~vh dk uewuk ysus vksj fofufnz"v ljdkjh iz;ksx'kkykvks es fev~vh dh tkp djkus ds fy, izksrlkfgr fd;k x;k rkfd Qlyks dh isnkokj es lq/kkj djus vksj fdlkuk s ds ykhk dks c<+kus ds fy, mozjdk s dk lrqfyr iz;ksx lqfuf'pr fd;k tk ldsa frming techniques. Mjority of the frming community re ill-educted nd hve very little or no knowledge of pproprite use of fertilizers nd other techniques to be followed to enhnce yield nd t the sme time mintining the soil helth on which their survivl nd prosperity depend. During Frmers Trining Progrmme, frmers were encourged to drw the soilsmples from field & crry out soil-testing t designted Govt. Lbortories to ensure blnced use of fertilizers for improving crop yields nd frmers profitbility. II. Mhyj izf'k{k.k dk;zøe II. Delers Trining Progrmmes choh,qlh,y }kjk fofhkuu jkt;ks es Mhyj izf'k{k.k dk;zøe ¼foRrh; o"kz 2011&12 ds nksjku 06½ vk;ksftr fd;k x;k FkkA Mhyjks dk diuh vksj Ñf"k leqnk; ds chp egroiw.kz fyd gksrk gs D;ks fd os diuh ls vfre iz;ksdrk vfkkzr~ fdlkuks rd okfnr lns'k igq pkus ds fy, vpns lns'kokgd gksrs gsa Mhyjks dks mozjdks dh miyc/krk] fofhkuu vfuok;z iks"kd&rroks dh [kqjkd] muds lrqfyr mi;ksx vksj vuqiz;ksx ds le; vksj i)fr] cktkj es rktk #>kuks ] mozjd m ksx ls lcf/kr ljdkjh uhfr;ks ] vkfn ds ckjs es tkudkjh nh xbza choh,qlh,y us uke:i flfkr l;= es fofhkuu izdkj ds pkj tso&mozjdks uker% jfgtksfc;e],tksvkscsdvj],tkslihfjfy;e vksj QkWLQkscz sdvfju dk mriknu fd;k gs rfkk mldk,d lqo;oflfkr Mhyj usvodz ds tfj, forj.k fd;k gsa Delers Trining Progrmmes (06 No's during FY ) were conducted by BVFCL in vrious sttes. Delers re vitl link between Compny nd the frming community s they re good messengers to communicte the desired messge from the compny to the ultimte user. Delers re informed bout Fertilizer vilbility, dosges of vrious essentil nutrients, their blnced use nd time & method of ppliction, ltest trends in the Mrket, Govt. policies pertining to Fertilizer industry, etc. BVFCL hs lso introduced Biofertilizer of four different strins, viz- Rhizobium, Azotobcter, Azospirillum & Phosphobctrin produced t BVFCL-plnt situted t Nmrup nd distributed through well defined deler's network. Mhyj izf'k{k.k dk;zøe ds nksjku Mhyjks dks eku;rk izkir difu;ks ls,d gh LFky ij lhkh Ñf"k vknkuks vfkkzr~,evksih],l,lih] cht vksj dhvuk'kd miyc/k djkus ds fy, diuh ds fofhkuu O;kikj dk;zdykiks ds ckjs es voxr djk;k x;k rkfd gekjs vf/kñr Mhyj usvodz ds tfj, o"kz 2006&07 ls fdlkuks ds ykhk ds fy, xq.korrk mrikn izkir fd, tk lds A During Delers Trining Progrmme, delers were pprised bout vrious trding ctivities of Compny to provide ll Agri-inputs i.e., MoP, SSP, Seeds & Pesticides under single roof from reputed compnies so s to get qulity products for the benefit of frmers since yer through our uthorized deler's network. 40

43 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm diuh us 2004&05 ls jlk;u vksj mozjd e=ky; ds lkfk le>ksrk&kkiu ij glrk{kj djus izkjhk dj fn, gsa forrh; o"kz 2011&12 ds fy, yksd m e fohkkx ls ^^vpnk^^ nj feyus dh lhkkouk gsa 12- le>ksrk&kkiu dh nj% 13- lwpuk izks ksfxdh vxhdj.k@muu;u diuh es m e llk/ku ;kstuk ¼bZvkjih½ dks dk;kzfuor djus ds fy,,d ijke'kznkrk dh fu;qfdr dh tk jgh gsa ijke'kznkrk bzvkjih lek/kku ds dk;kzuo;u ds fy, vk ksikr ijke'khz lsok, miycèk djk,xka mpp ewy; enks ds fy, diuh es bz&izki.k dk;kzfuor fd;k x;k gsa bl lqfo/kk dk iz;ksx c<+k;k tk,xk rkfd bles ekud fof'kf"v;ks rfkk 5-00 yk[k #i, ls vf/kd ewy; okyh xsj&lokfero ens 'kkfey gsa deiuh dh osclkbv dks fu;fer :i ls v ru cuk;k tkrk gs vksj lwpuk dk vf/kdkj vf/kfu;e rfkk dkjiksjsv xous l ds lhkh izko/kkuks dks viyksm fd;k x;k gsa 45 dk;zikydks dks choh,qlh,y dh esy vkbz-mh- ¼vFkkZr~ nme@bvfcl.co.in½ miyc/k djkbz xbz gsa 100 dk;z LFkyks ij LFkkuh; {ks= usvodz vksj czkwmcsm bvjusv lqfo/kkvks dk vkxs vksj folrkj fd;k x;k FkkA 14- tksf[ke izc/ku deiuh us vkdyu vksj U;wurehdj.k dh funs'kd emy }kjk frekgh vk/kkj ij dh tkus okyh leh{kk ds fy,,d tksf[ke izc/ku uhfr rs;kj dh gsa irk yxk, x, lhkkfor tksf[keks dks fofhkuu fdleks ds vrxzr lewgc) fd;k x;k gs vfkkzr~ QhM@bZ /ku] l;= izpkyu] l;= izpkyu,o j[kj[kko] mi;ksfxrk,] 12. MOU RATING: Compny hs strted signing MOU with the Ministry of Chemicls nd Fertilizers since For the finncil yer , "Good" rting is expected from the Deprtment of Public Enterprises. 13. IT ADOPTION / UPGRADATION To implement Enterprise Resource Plnning (ERP) in the Compny, consultnt is being engged. The consultnt will provide end-toend consultncy services for implementtion of ERP solution. The compny hs corporte emil service using Rediffmil pltform. 45 executive hve been provided with BVFCL's mil-id (i.e., nme@bvfcl.co.in). A Locl Are Network covering 100 work sttions t different loction is in position long with brod bnd connection for Internet fcility. E-procurement hs lredy been implemented in the Compny for high vlue items. The use of this fcility hs been extended to include non-proprietry items hving stndrd specifictions nd of vlue higher thn Rs.5.00 Lkhs. The Compny's web site is mintined with updted informtion nd ll provisions of Right to Informtion Act nd Corporte Governnce hve been kept uploded. 14. RISK MANAGEMENT The compny hd lid down risk mngement policy for ssessment & minimiztion procedures. It is regulrly reviewed by the Bord of Directors on qurterly bsis. The possible risks hve been identified nd grouped under specific responsibility res such s 41

44 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm i;kzoj.k fofu;ked] dkjksckj izfrli/kkz] cktkj] forr] ekuo llk/ku] ifj;kstuk izc/ku] lwpuk izksn~;ksfxdh] fof/kd vksj vkrfjd fu;=.k tksf[kea vkids dkiks Zjs'ku dh lifrr;k vksj chek;ksx; ifjlifrr;k tsls l;= vksj e'khujh] Hkou] vksj LVkWd rfkk vu; dk i;kzir :i ls chek fd;k x;k gsa uke:i mozjd ifjlj dh lqj{kk lhvkbz,l,q }kjk dh tk jgh gs vksj dkiks Zjs'ku dh Vkmuf'ki es lqj{kk xkmz vksj fuxjkuh ckgjh lzksr }kjk dh tk jgh gsa l;= dh lqj{kk ys[kk&ijh{kk le; ij bvsfyts V C;wjks }kjk dh tk jgh gsa C;wjks le; ij vksj vko';drk ds vuqlkj tgk&dgh mugs crk;k tkrk gs] dk rrdky vuqikyu fd;k tkrk gsa lqj{kk dh leh{kk le; ij vkrfjd :i ls dh tkrh gsa izc/ku] lqj{kk LVkWQ vksj diuh ds dezpkfj;ks dks diuh dh lqj{kk vko';drkvks ds ckjs es tkudkjh nh tkrh gsa orzeku es ] QSDVjh {ks= es dqy 158 lhvkbz,l,q dkfezd fu;qdr fd, x, gsa tcfd lqj{kk cuk, j[kus ds fy, Vkmuf'ki {ks= es dqy 27 osuxkm~lz dks Hkh fu;qdr fd;k x;k gsa 15- chek 16- lqj{kk 17- vkbz,lvks 9001 vksj izek.k&i= dh flfkfr% deiuh dk uke:i&iii l;= xq.korrk izc/ku iz.kkyh ¼D;w,e,l½ vkbz,lvks 9001%2008 vksj i;kzoj.k iz.kkyh izc/ku ¼bZ,e,l½ vkbz,lvks 14001%2004 ds vuq:i gsa mi;q ZDr izek.k&i= esllz flollvz izkfy- ¼iwoZ es floldks bfm;k izk-fy-½ }kjk fn;k x;k FkkA Feed/Fuel, Plnt Opertions, Plnt Opertion & Mintennce, Utilities, Environment Regultory, Business Competition, Mrket, Finnce, Humn Resources, Project Mngement, Informtion Technology, Legl nd Internl Control. 15. INSURANCE The properties nd insurble ssets of your corportion such s Plnt & Mchineries, Building, nd Stocks mong others re dequtely insured. 16. SECURITY The security of the Nmrup Fertilizer Complex is being looked fter by the CISF nd in Corportion's township, the security gurding nd ptrolling is being outsourced. Security udit of the plnt is being done by the Intelligent Bureu periodiclly nd the requirements, wherever pointed out by them, re immeditely complied with. Review of security is done internlly lso from time to time. The mngement, security stff nd the employees of compny re sensitized to the security needs of compny. At present, totl 158 nos. of CISF personnel hve deployed in the fctory re. Wheres totl 27 nos. Vngurds re lso engged in the township re to mintin the security. 17. STATUS OF ISO 9001 & CERTIFICATE: Nmrup-III plnts of the compny hve been Qulity Mngement System (QMS) ISO 9001:2008 nd Environment System Mngement (EMS) ISO 14001:2004 complint. The bove certifictions were conducted by M/s. Swisscert Pvt. Ltd. (formerly SWISO Indi Pvt. Ltd.). 42

45 Z Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm deiuh es vkrfjd ys[kk&ijh{kk vksj fu;fer izcèkuh; leh{kk leffkzr forr vksj ys[kk ds vyx&vyx {ks=ks es i;kzir vkrfjd fu;=.k iz.kkyh gsa ys[kkdj.k {ks= es okmpj cukus ls ysdj okmpj dh tkp djus rd vkrfjd fu;=.k ekstwn gs ftlds vurxzr 'kfdr izr;k;kstu ds vuqlkj lcf/kr ofj"b vf/kdkfj;ks }kjk izr;sd okmpj ij izfr glrk{kj fd, tkrs gs vksj mudh tkp dh tkrh gsa nsfud udn cgh 'ks"k dh HkkSfrd x.kuk dh tkrh gs vksj cgh ls mldh tkp dh tkrh gsa blh izdkj] lhkh csd [kkrks dk Hkh vkof/kd :i ls feyku fd;k tkrk gsa ys[kkdj.k ds fy, vkrfjd fu;=.k iz.kkyh Hkh viukbz tkrh gs ftlds vurxzr iz.kkyh es ntz lkeku; okmpjks lfgr okmpjks dk ys[kkdj.k ls iwoz tkp vksj os/khdj.k fd;k tkrk gsa eqnzk lc/kh izr;sd Ø;@fuekZ.k lfonk ;k vu; izlrko dh uhfr vksj dk;zfof/k ds vuqlkj mfpr fu.kz; ysus ls iwoz lfefr }kjk tkp vksj leh{kk dh tkrh gsa le; ij bl iz.kkyh dh tkp dh tkrh gs vksj lq/kkj djus gsrq dkjzokbz dh tkrh gsa vkrfjd ys[kk&ijh{kk izdks"b }kjk leffkzr ckg~; ;ksx;,ts lh }kjk vkrfjd ys[kk&ijh{kk dh tkrh gsa vkrfjd ys[kk&ijh{kk dh tkp dh tkrh gs vksj vuqikyu ds fy, vkof/kd fjiksvz izlrqr dh tkrh gsa vkrfjd ys[kk&ijh{kk fjiksvks vksj mu ij dh xbz vuqorhz dkjzokbz dks ys[kk&ijh{kk lfefr ds le{k izlrqr fd;k tkrk gsa ys[kk&ijh{kk lfefr fu;fer :i ls vkrfjd ys[kk&ijh{kk vksj vkrfjd fu;=.k dh i;kzirrk dh leh{kk djrh gsa 18- vkrfjd fu;=.k iz.kkyh% 19- ekuo llk/ku fodkl d- tu'kfdr dh flfkfr% 31 ekpz] 2012 dks dkiks Zjs'ku dh dqy tu'kfdr 1062 FkhA ljdkj ds fn'kk&funs Z'kks ds vuqlkj vuqlwfpr tkfr@vuqlwfpr tutkfr@vu; finm+k oxz@hkwriwoz lsfudks vksj 'kkjhfjd :Ik ls fodykx oxks dks vkj{k.k fn;k tk jgk gsa fnukd rd 18. INTERNAL CONTROL SYSTEM: The compny hs dequte internl control system in the respective res of Finnce & Accounts supported by Internl Audit nd regulr mngement reviews. In the ccounting, internl control is exercised right from the preprtion of vouchers where ech voucher is checked nd countersigned by respective senior officers s per delegtion of power. The dily cshbook blnce on mnul bsis is physiclly counted nd checked with the book. Similrly, ll bnk ccounts re lso reconciled periodiclly. Internl control is lso exercised for ccounting where vouchers including journl vouchers entered into the system re checked nd vlidted before those re ccounted for. Every proposl for purchse/works contrct or others hving monetry involvement re exmined s per policy nd procedures nd reviewed by committee before tking pproprite decision. System is reviewed from time to time nd ction tken for improvement. Internl Audit is conducted by the outside qulified gency supported by the in-house internl udit cell. Internl Audit exmines documents / records / procedures nd submit periodicl reports for complince. The Internl Audit Reports nd follow up ctions thereon re regulrly plced before the Audit Committee. Audit Committee regulrly reviews the internl udit nd dequcy of internl control. 19. HUMAN RESOURCE DEVELOPMENT A. MANPOWER POSITION: The totl mnpower sttus of the Corportion s on 31st Mrch 2012 ws Reservtion of SC/ST/OBC/Ex- Servicemn nd Physiclly hndicpped ctegories in the service re being mintined s per the government 43

46 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm tu'kfdr fueukuqlkj Fkh%& oxz l[;k % 1- vuqlwfpr tkfr vuqlwfpr tutkfr vu; finm+k oxz HkwriwoZ lsfud 'kkjhfjd :Ik ls fodykx Ekfgyk, vyil[;d fld[k vu; ;ksx [k- izf'k{k.k% 31 ekpz] 2012 dks lekir o"kz ds nksjku ckgjh ¼8½ vksj vkrfjd ¼25½ nksuks es dqy 33 izf'k{k.k dk;zøeks dk vk;kstu fd;k x;ka dezpkfj;ks us izf'k{k.k dk;zøeks es fueukuqlkj Hkkx fy;k% I. Ckkgjh izf'k{k.k dk;zøe Ø-l- fo"k; llfkku dk uke 1- mozjd izks ksfxdh ij,q,vkbz] fnyyh vrjkz"vªh; leesyu 2-30ok vle jkt; bfm;k esfmdy fpfdrlk leesyu,lksfl,'ku] fpfdrlk csbd&2011 nqfy;ktku 3- ifj;kstuk ;kstuk vksj lkf[;dh; vksj izc/ku dk;zøe dk;kzuo;u e=ky;] Hkkjr ljdkj] xzsvj uks,mk 4- veksfu;k l;=ks dh izpkyukred vksj vuqj{k.k lel;kvk ij lewg ppkz,q,vkbz] fnyyh ¼psUubZ es ½ 5- lkekftd fookn Hkkjrh; yksd fo'ys"k.k vksj lek/kku iz'kklu ij dk;z'kkyk llfkku] ubz fnyyh directives. The detils mnpower position s on ws s under:- Ctegories Nos. % 1. Scheduled Cste Scheduled Tribe OBC Ex-Servicemen Physiclly Hndicpped Women Minority Sikh Others TOTAL B. TRAINING: During the yer ended on 31st Mrch 2012, totl 33 trining progrmmes both externl (8) nd internl (25) were conducted. Brief detils of trining progrmmes re stted s under: I. Externl Trining Progrmmes S.No. Subjects Nme of Institution 1. Interntionl Conference F A I, Delhi on Fertilizer Technology 2. 30th Assm Stte Indin Medicl Medicl Conference Assocition, Medimeet-2011 Dulijn 3. Project Plnning & Ministry of Sttistics Mngement nd Progrmme Implementtion, Govt. of Indi, Greter Noid 4. Group Discussion on F A I, Delhi Opertionl & (t Chenni) Mintennce problems of Ammoni Plnts 5. Workshop on Socil Indin Institute Conflict Anlysis & of Public Resolution Administrtion, New Delhi 44

47 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 6- vks ksfxd LoLFkrk dsunzh; Je llfkku] eqcbz 7- lfonk Je izc/ku jkt; mrikndrk ifj"kn] dksydkrk 8- izpkyukred lqj{kk vksj QSDVjh fujh{k.kky;] LokLF; tkx:drk Hkkjr ljdkj] fmczwx<+ II. vkrfjd izf'k{k.k dk;zøe Ø- fo"k; Lrj vksj Lkdk; Ekkuo l- Hkkxhnkjks?kVs dh l[;k 1- lqj{kk ij vf/kdkjh 21 vkrfjd 11 dk;zøe dkexkj mriknu LVkWd vf/kdkjh 15 vkrfjd 30 ¼iz'kk-½ ds fy, dkexkj dk;zøe 3- mriknu LVkWd vf/kdkjh 14 vkrfjd 20 ¼;wfj;k½ ds dkexkj fy, dk;zøe 4- mriknu LVkWd vf/kdkjh 03 vkrfjd 03 ¼mi;ksfxrk½ ds dkexkj fy, dk;zøe 5- l;qdr vf/kdkjh 14 lhchmcy;wbz] 28 'ks{kf.kd dkexkj 29 frulqfd;k 58 dk;zøe 6- bysfdvªdy vf/kdkjh 23 vkrfjd 23 LVkWQ ¼02½ ds dkexkj fy, dk;zøe 7- ;kf=d vf/kdkjh 50 vkrfjd 50 LVkWQ ¼03½ ds dkexkj fy, dk;zøe 8- mriknu vf/kdkjh 23 vkrfjd 23 LVkWQ ¼02½ ds dkexkj fy, dk;zøe 9- mriknu vf/kdkjh 13 vkrfjd 13 LVkWQ ¼2½ ds dkexkj fy, dk;zøe 6. Industril Fitness Centrl Lbour Institute, Mumbi 7. Contrct Lbour Stte Productivity Mngement Council, Kolkt 8. Opertionl Sfety & The Inspectorte of Helth Awreness Fctories, Govt. of Assm, Dibrugrh II. Internl Trining Progrmmes Sl. Subject Level & Fculty Mn No. (Number of hours Prticipnts) 1. Progrmme on Officers 21 Internl 11 Sfety Workmen Progrmme for Officers 15 Internl 30 Production Stff Workmen (Admn) 3. Progrmme for Officers 14 Internl 28 Production Stff Workmen (Ure) 4. Progrmme for Officers 03 Internl 03 Production Stff Workmen (Utility) 5. Joint Officers 14 CBWE, 28 Eductionl Workmen 29 Tinsuki 58 Progrmme 6. Progrmme for Workmen 23 Internl 23 Electricl Stff Officers (2 nos.) 7. Progrmme for Workmen 50 Internl 50 Mechnicl Officers Stff (03 Nos) 8. Progrmme for Workmen 23 Internl 23 Production Officers Stff (2 nos.) 9. Progrmme for Workmen 13 Internl 13 Production Officers Stff (2 nos.) 45

48 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 10- ih,ylh] vf/kdkjh 25 vuqdwy 36 LdkMk ¼2½ dkexkj 09 iz.kkfy;k 100 ij izf'k{k.k vksj izks ks& fxfd;k] Bk.ks 11- Mhlh,l ¼2½ vf/kdkjh 25 vuqdwy 75 ij izf'k{k.k dkexkj 07 iz.kkfy;k 21 vksj izks ks& fxfd;k] Bk.ks 12- mriknu LVkWQ vf/kdkjh 09 vkrfjd 09 ¼xksyk&ck:n lewg½ dkexkj ds fy, dk;zøe 13- lqj{kk vksj dkexkj 29 vkrfjd 15 nq?kzvuk jksdus ds fy, dk;zøe 14-5&,l vksj dstu dkexkj 24 vkrfjd 12 ij dk;zøe 15- mrikndrk ij dkexkj 22 vkrfjd 11 dk;zøe x- vks ksfxd lc/k fjiksvz?k- o"kz ds nksjku vks ksfxd lc/k ifjn`'; dqy feykdj 'kkfriw.kz jgka LoSfPNd lsok&fuo`frrk o"kz ds nksjku] diuh us LoSfPNd lsok&fuo`frr ;kstuk ¼ohvkj,l½ ugh pykbza M- vuqlwfpr tkfr;ks ¼v-tk-½] vuqlwfpr tutkfr;ks ¼v-t-tk-½ vksj vu; finm+s oxksz ¼vks-ch-lh-½ rfkk 'kkjhfjd :i ls fodykx ¼ih,p½ ds dy;k.k,o fodkl ds fy, diuh dh xfrfof/k;k diuh Hkkjr ljdkj }kjk le; ij tkjh vuqlwfpr tkfr] vuqlwfpr tutkfr vksj vu; finm+k 10. Trining on Officers 25 Prolific 36 PLC, SCADA Workmen 09 Systems 100 (2 nos.) & Technologies, Thne 11. Trining on Officers 25 Prolific 75 DCS (2 nos.) Workmen 07 Systems 21 & Technologies, Thne 12. Progrmme for Officers 09 Internl 09 Production Stff Workmen (Amm Group) 13 Progrmme for Workmen 29 Internl 15 Sfety & Accident Prevention 14. Progrmme on Workmen 24 Internl 12 5-S & Kizen 15. Progrmme on Workmen 22 Internl 11 Productivity C. INDUSTRIAL RELATIONS REPORT The Industril Reltions Scenrio during the yer ws by nd lrge peceful. D. VOLUNTARY RETIREMENT During the yer, compny did not operte Voluntry Retirement Scheme (VRS). E. ACTIVITIES OF THE COMPANY FOR WELFARE AND ADVANCEMENT OF SCHEDULED CASTES (SCs), SCHEDULED TRIBES (STs), OTHER BACKWARD CLASSES (OBCs) AND PHYSICALLY HANDICAPPED (PH) The compny hs been following the presidentil directive nd guidelines/orders 46

49 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm oxz ds vkj{k.k ls lcf/kr jk"vªifr ds fn'kk&funs Z'kks dk ikyu dj jgh gsa dkwiks Zjs'ku es fdlh Hkh fjfdr ij vkosnu djus ds fy, vuqlwfpr tkfr;ks ] vuqlwfpr tutkfr;ks vksj vu; finm+k oxz ds vh;ffkz;ks dks vkosnu 'kqyd nsus ij iwjh rjg ls NwV nh tkrh gsa vtk-@v-t-tk- vh;ffkz;ks dks dkwiks Zjs'ku ds fdlh Hkh in ij HkrhZ ds fy, fyf[kr ijh{kk vksj lk{kkrdkj nksuks ds fy, miflfkr gksus ij ;k=k HkRrk fn;k tkrk gsa dkwiks Zjs'ku dh lhkh dy;k.k lqfo/kk, vu; dezpkfj;ks lfgr v-tk-@v-t-tk- ds dezpkfj;ks dks Hkh nh tkrh gsa deiuh dks tutkfr mi&;kstuk ds vurxzr Hkkjr ljdkj ls fuf/k;ks dk dksbz vkcvu izkir ugh gksrka dks v-tk-@v-ttk- vksj vu; finm+k oxz dk izfrfuf/kro djus okyk okf"kzd fooj.k fu/kkzfjr izi= es n'kkz;k x;k gs rfkk finys dsys.mj o"kz vfkkzr~ 2011 ds nksjku dh xbz fu;qfdr;ks dh l[;k] tslh fd ljdkj dks nh xbz gs] funs'kd dh fjiksvz ds vuqyxud&1¼x½ es lyxu gsa dkwiks Zjs'ku es,d leidz vf/kdkjh ds v/khu,d finm+k oxz izdks"b gsa lidz vfèkdkjh v-tk-@v-t-tk- leqnk; ls lcf/kr dezpkfj;ks dh f'kdk;rks dks izkfkfedrk ds vk/kkj ij rfkk v-tk@v-t-tk- l?k ds lkfk ppkz djds mldk lekèkku djus ds fy, vko';d dkjzokbz djrs gsa dkwiks Zjs'ku v-tk@v-t-tk- lfgr lhkh dezpkfj;ks dks vkokl miyc/k djk jgk gsa 20- lrdzrk czg~eiq= osyh QfVZykbtj dkwikszjs'ku fyfevsm ¼choh,Qlh,y½ es lrdzrk dk;zdyki dk eq[; mìs'; lxbu es izc/kdh; n{krk vksj izhkkodkfjrk ds Lrj dks de djuk ugh cfyd c<+kuk gsa lxbu vius detksj {ks=ks ] lfnx/k {ks=ks vksj [kjkc {ks=ks dk irk yxkus ds fy, vius <kps es ^lrdzrk fox^ dk blrseky djrk gsa bl izdkj] ^lrdzrk fohkkx^ lxbu dh pksdl vk[k vksj dku ds :i e s dk;z djrk gs vksj blfy, bls izc/ku dk;z dk vfhkuu issued by the Government of Indi from time to time in the mtter of reservtion in services for SCs, STs nd OBCs. Cndidtes belonging to SC nd ST re fully exempted from pyment of fee pplying for ny post in the corportion. SC/ST cndidtes re pid TA for ppering in both the written test nd interview for recruitment of ny post in the compny. The Corportion is hving one SC/ST/OBC Cell under the Liison Officer, who initites necessry ction to settle the grievnces of the employees belonging to SC/ ST community on priority bsis nd in consulttion with the SC/ ST Associtions. Corportion is providing compny ccommodtion to ll its employees including SC/ST employees. All the welfre fcilities of the corportion lso extended to the employees of SC/ST community long with other employees. The compny do not received ny lloction of fund under tribl sub-pln from the Govt. of Indi. The Annul sttement in the prescribed formt showing the representtion of SCs, STs nd OBCs s on nd Number of ppointments mde during the preceding clendr yer i.e s furnished to the Govt. is enclosed s Annexure-1( C). 20. VIGILANCE The min objective of vigilnce ctivity in the Brhmputr Vlley Fertilizer Corportion Limited (BVFCL) is not to reduce but to enhnce the level of mngeril efficiency nd effectiveness in the orgnistion. The Orgnistion uses the 'Vigilnce Wing' in its set up to identify its week spots, gry res nd bd eggs. Thus, the 'Vigilnce Deprtment 'serves s the wtchful eyes nd lert ers of 47

50 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fgllk ekuk tkrk gsa lrdzrk fohkkx dk eq[; y{; O;olk; vksj m ksx e s ^yksxks ^ dk fodkl djuk rfkk eq[; lrdzrk vf/kdkjh ds ekxzn'kzu es ikjnf'kzrk] n{krk vksj fu"i{krk dk;e j[kus ds fy, izc/ku dks l{ke cukuk gsa fnyyh es rsukr eq[; lrdzrk vfèkdkjh dkwiks Zjs'ku ds lrdzrk iz;klks ds fy, funs Z'k] ekxzn'kzu vksj i;zos{k.k miyc/k djkrk gs ftldh lgk;rk uke:i es dkwiks ZjsV dk;kzy; es rsukr lrdzrk vf/kdkfj;ks }kjk dh tkrh gsa tksf[ke mbkuk mozjd m ksx O;olk; dk,d vfhkuu igyw gsa blfy, ;g vko';d ugh fd cgqr ekewyh gkfu lrdzrk tkp dk fo"k; gksa dkwiks Zjs'ku dks uqdlku igq pkus okys iz sfjr ;k fcuk lksp&fopkj okys fu.kz;ks dks vfuok;z :i ls lrdzrk ds vrxzr ekuk tkrk gsa tcfd lrdzrk dk mìs'; nks"kh dezpkfj;ks dks nf.mr djuk gs] ;g muds }kjk fy, x, os/k vksj mfpr O;kolkf;d fu.kz;ks rfkk nqhkkzouk ls cpus okys vu; dk;ks ls Hkh cpkrk gsa dkwiks Zjs'ku es lrdzrk fohkkx bu fl)krks ij dk;z djrk gsa ^jksdfkke mipkj ls csgrj gs^ ds fl)kr ds vk/kkj ij lrdzrk fohkkx lfø; :i ls fuokjd mik;ks es 'kkfey gs] ftldk mìs'; dfe;ks dks nwj djus ds fy, mik; djuk gs tks diuh es /kks[kk/km+h vksj dfe;ks dh leku izñfr dh iqujko`frr ls cpus ds fy, vfuok;z gsa dkwiks Zjs'ku us eq[; fo"k; ds :i es fuokjd lrdzrk dks viuk;k gsa dkwiks Zjs'ku ds dk;z es ikjnf'kzrk vksj tokcnsgh ij cy fn;k tkrk gsa tgk rd fuokjd lrdzrk dk lc/k gs] ;wfuv lrdzrk }kjk dnkpkj ds nk;js dks U;wure djus dh vko';drk ds vuqlkj dk;z i)fr dk le; ij v/;;u djrh gs vksj diuh ds fofhkuu {ks=ks es vio;; dh dvksrh djus ds fy, flqkfj'k djrh gsa blls izfø;k es dfe;ks dks de djus vksj iz.kkyh es lq/kkj djus es enn feyrh gsa the Orgnistion nd in this wy is considered s n integrl prt of the mngement function. The focl point of Vigilnce Deprtment is the development of 'People' in Business nd Industry nd to enble the mngement for culture of trnsprency, efficiency nd firness under the guidnce of Chief Vigilnce Officer. The Chief Vigilnce Officer posted t Delhi provides direction, guidnce nd supervision over the vigilnce efforts of the corportion who is ssisted by Vigilnce Officils posted in Corporte Office t Nmrup. Risk tking is integrl fctor of the fertilizer industry business. Therefore, very megre loss does not necessrily become subject mtter of vigilnce enquiry. Motivted or reckless decisions tht cuse dmge to the Corportion re essentilly delt s vigilnce ones. While vigilnce ims t punishing the delinquent employees, it lso protects the legitimte nd bonfide business decisions tken by them nd ny other ction devoid of mlfides. The Vigilnce Deprtment in the Corportion functions on these principles. Bsed on the principle 'Prevention is Better Thn Cure', the Vigilnce Deprtment is ctively involved in the preventive mesures, which im t tking steps to plug the loop holes, which re essentil for voiding recurrence of similr nture of frudulence nd fult in the Compny. The Corportion hs dopted preventive vigilnce s the min theme. The stress is on trnsprency nd ccountbility in the working of the Corportion. So fr s Preventive Vigilnce is concerned, the unit vigilnce periodiclly studies the working procedure with view to modify so needed to minimize the scope for mlprctices nd lso recommendtions re provided to curtil the wsteful expenditure in different res of the 48

51 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm compny. This helped to reduce the procedurl lpses nd improves the system s well. izhkkoh] vfkziw.kz] lfø; vksj iwokzuqekfur mik;ks ds ekè;e ls choh,qlh,y dk lrdzrk fohkkx fofhkuu fohkkxks ds fu"iknu ij lrdzrk dh n`f"v ls xgu ut+j j[krk gs vksj fuxjkuh ds nksjku ikbz xbz dfe;ks dh tkudkjh 'kh"kz vf/kdkfj;ks dks nsrk gs rfkk,slh [kkfe;ks dh iqujko`frr dh tkp djus ds fy, lhkh lhko fn'kk&funs Z'kks dk iwjh fu"bk ls ikyu fd;k tkrk gsa ;g uksv djuk ljkguh; gs fd lrdzrk bdkbz ds vle jkt; es lhchvkbz@¼,lhch½ ds lkfk lksgknziw.kz lc/k gs vksj vkilh fgr ds eqìks ij yxkrkj lidz cuk, gq, gsa o"kz 2012 ds fy, ^lfnx/k vf/kdkfj;ks dh lger lwph^ rfkk ^lfnx/k fu"bk okys vf/kdkfj;ks dh lwph^ dks le; ij rs;kj fd;k x;k Fkk rfkk lwphc) vfèkdkfj;ks ij xgu utj j[kh tk jgh gsa losnu'khy inks ij rsukr dezpkfj;ks dks rhu o"kz iwjk gksus ij ckjh&ckjh ls rsukr fd, tkus dh iz.kkyh dk vuqikyu fd;k tk jgk gsa o"kz ds nksjku vkspd vksj fu;fer fujh{k.k ¼22½ fd, x, FksA o"kz ds nksjku 10 lhvhbz tkp djkbz xbz FkhA lhohlh dh fof'kf"v ds vuqlkj vf/kdkfj;ks dh py vksj vpy lifrr ij lifrr foojf.k;ks dh loh{kk dh tk jgh gsa fujh{k.kks dk irk yxkus ds vk/kkj ij izc/ku dks lqèkkj dkjzokbz ds fy, egroiw.kz lq>ko fn, x, FksA o"kz ds nksjku cm+h 'kkflr ds fy, nks rfkk NksVh 'kkflr ds fy, nks fohkkxh; dk;zokfg;k izkjhk dh xbz FkhA lrdzrk tkp ds fu"d"kz ds nksjku lhohlh@mozjd fohkkx ds funs Z'kks ds vuqlkj,d,qvkbzvkj ntz dh xbz gs rfkk,d vu; cm+h 'kkflr ij dkjzokbz dh tk jgh gsa Through effective, meningful, proctive nd predictive mesures, vigilnce Deprtment of BVFCL mintined close wtch from vigilnce ngle on the performnce of vrious deprtments nd fed the top hierrchy of the deficiency observed during the wtch nd kept pprised of ll the possible moves for corrective or preventive mesures need to be tken to check re-occurrence of such deficiencies. The guidelines of the Centrl Vigilnce Commission (CVC) re followed in letter nd spirit in its functioning. It is commendble to note tht the vigilnce unit hs been ble to keep cordil reltion with the CBI/(ACB) in the Stte of Assm nd in constnt touch on the issues of mutul interest. 'Agreed List of Suspected Officers' nd 'List of Officers of Doubtful Integrity' for the yer 2012 were prepred in time nd close wtch is being kept on the listed officers. System of rottion of employees posted on sensitive posts for more thn three yers is being followed. Surprise nd regulr inspections (22 nos) were crried out during the yer. 10 nos. of investigtion on CTE Exmintion were conducted during the yer. Property returns on Movble nd Immovble property of the officers is being scrutinized t rndom s per specifiction of CVC. On the bsis of findings of inspections, importnt suggestions were given to the Mngement for remedil ction. Seven complints were received nd were tken up for investigtion. During the finncil yer, two Deprtmentl Proceedings were initited for mjor penlty nd two for Minor Penlty. In cse of Minor Penlty Proceedings in 2 cses, 'Wrning' were wrded to 2 delinquent officils. During the outcome of 49

52 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Vigilnce Investigtion, One FIR hs been lodged s per the directives of CVC/DOF nd nother Mjor Penlty Proceedings is in progress. Hkz"Vkpkj dh cqjkbz ds ckjs es dezpkfj;ks vksj turk dks tkudkjh nsus ds fy, choh,qlh,y }kjk 31 vdrwcj ls 5 uocj] 2011 rd lrdzrk tkx:drk lirkg euk;k x;k FkkA bdkbz es lrdzrk tkx:drk lirkg euk;k x;k vksj lirkg ds nksjku dk;zøeks dks bl izdkj ls vk;ksftr fd;k x;k ftlus vfèkdk'k dezpkfj;ks dks dk;zdykiks ds muds {ks= es vf/kd tkx#d cuk;k tks muds vksj lexz :i ls dkwiks Zjs'ku ds fgr es FkkA dezpkfj;ks dks fofhkuu dk;zøeks es Hkkx ysus ds fy, Hkh izksrlkfgr fd;k x;ka lirkg ds nksjku choh,qlh,y ds lrdzrk fohkkx }kjk lewg ppkz] ukjk izfr;ksfxrk vksj lxks"bh dk vk;kstu fd;k x;k rkfd 'kifk lekjksg ds vykok Hkz"Vkpkj ds nq"ifj.kkeks dks mtkxj fd;k tk ldsa 21- dy;k.k mik; ¼dkiksZjsV lkekftd mrrjnkf;ro½ choh,qlh,y vius dezpkfj;ks ds fy, fofhkuu dy;k.kdkjh ;kstuk, 'kq: dh gs vksj 8 fd-eh- ds nk;js ds vklikl ds {ks=ks dks vius dkiks ZjsV lkekftd mrrjnkf;ro ds :i es vusd mik; fd, gsa lf{kir C;kSjk fueu izdkj gs% vius dezpkfj;ks vksj muds vkfjrks dks vkokl rfkk fpfdrlk lqfo/kk, iznku djus ds vykok] dkiks Zjs'ku dezpkfj;ks rfkk Vkmuf'ki vksj vklikl ds xkoks ds cppks dks 'ks{kf.kd lqfo/kk, Hkh miyc/k djk;k gsa dkiks Zjs'ku,d mpp ek/;fed Ldwy],d izkfkfed Ldwy pyk jgk gsa dkiks Zjs'ku us blls igys uke:i es mpp f'k{kk ds fy,,d uke:i dkwyst],d ch-,m dkwyst rfkk uke:i es,d jkt; fmlis ljh dh LFkkiuk dks lj{k.k iznku fd;k FkkA gky es ] To sensitize the employees nd the public bout the evil consequences of corruption, Vigilnce Awreness Week ws celebrted by BVFCL from 31st October, to 5th November, Vigilnce Awreness Week ws observed in the Unit ppropritely nd progrmmes during the week were chlked out in such mnner tht indeed wken mjority of the employees towrds the need to be vigilnt in their sphere of ctivities of ctivities, in their own interest nd to tht of the interest of the Corportion s whole. The employees were lso encourged to prticipte in vrious progrmmes. During the week, group discussions, Slogn Competition nd Seminr were orgnized by the Vigilnce Deprtment of BVFCL to highlight the hrmful effects of corruption in ddition to the pledge ceremonies. 21. WELFARE MEASURES (CORPORATE SOCIAL RESONSIBILITY) BVFCL undertkes vrious welfre schemes for its employees nd host of mesures s its Corporte Socil Responsibility limited to the surrounding res within 8 kms rdius. Brief detils re s under : Besides extending housing nd medicl fcilities to its employees nd dependnts, the Corportion lso provides eductionl fcilities to the children of employees nd the wrds of the Township nd the nerby villges. Corportion is running one Higher Secondry School, one Kendriy Vidyly nd one Model High School (English Medium) besides one Primry School. The Corportion extended its 50

53 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm choh,qlh,y us nks u, Ldwy],d twfu;j dkwyst rfkk,d vu; vleh ek/;e Ldwyks dh dkwyksuh {ks= es fj;k;rh nj ij vkokl miyc/k djkdj enn dh gsa dezpkfj;ks vksj muds vkfjrks dks fpfdrlk lqfo/kk, miyc/k djkus ds fy, vk/kqfud midj.kks lfgr,d 60 fclrj okyk vlirky gsa vklikl ds LFkkuh; yksxks dks fj;k;rh njks ij mipkj Hkh miyc/k djk;k tkrk gsa dkiks Zjs'ku uke:i vksj vklikl ds {ks=ks es turk dks is;ty lqfo/kk] cktkj] dk;ks rfkk vu; llfkkuks ds fy, Hkwfe rfkk VsfyQksu,Dlps t] Mkd?kj] jkstxkj dsunz vksj ukxfjd j{kk dk;kzy; ds fy, txg Hkh miyc/k djkrk gsa {ks= es liw.kz lkekftd&vkffkzd lksgknz cuk, j[kus ds fy, lkekftd dy;k.k dks"k ls vklikl ds 'ks{kf.kd vksj lkekftd llfkkuks dks forrh; lgk;rk iznku dh tkrh gs tcfd esfjv es vkus okys Nk=ks dks muds 'kkunkj 'ks{kf.kd fu"iknu ds eku;rk Lo:i dezpkjh lqfo/kk dks"k ls izksrlkgu ds :i es iqjldkj fn, tkrs gsa Hkfo"; fuf/k] dkiks Zjs'ku es is 'ku] bzmh,yvkbz ds,ot es,yvkbzlh dh lewg chek ;kstuk tslh lkekftd lqj{kk ;kstukvks ds vykok] lewg O;fDrxr nq?kzvuk chek ;kstuk] lewg cpr lc) chek ;kstuk] lewg fpfdrlk nkok ;kstuk dk;kzfuor dh tk jgh gsa dezpkfj;ks dks mpp 'ks{kf.kd ;ksx;rk izkir djus ds fy, izksrlkfgr fd;k tkrk gs rkfd os diuh es Åpk ptronge erlier for estblishment of Nmrup College, one B.Ed College for higher eduction nd estblishment of Stte Dispensry t Nmrup. Recently, BVFCL lso extends its helping hnd to two newly opened school, one is Junior College nd the other is one Assmese medium school, by providing ccommodtions within the colony re t concessionl rte. A 60 bedded hospitl with modern equipments is vilble to extend medicl fcilities to employees & their dependents. Nerby people of the loclities re lso provided tretment t nominl fees. The Corportion lso extends fcilities to the public of Nmrup nd djoining res like Drinking Wter Fcilities, Mrket, Lnd for Religious / Culturl nd other institutions nd ccommodtion for Telephone Exchnge, Post Office, Employment Exchnge nd Civil Defence Office. In order to mintin the totl socio-culturl hrmony of the loclity, time to time finncil ssistnce re extended to the nerby eductionl nd socil institutions from the Specil Welfre Fund while the meritorious students re given wrds s encourgement from Employees' Amenities Fund in recognition of their brillint cdemic performnce. In ddition to socil security schemes like Provident fund, Grtuity, Pension in the Corportion, the Group Insurnce Scheme of LIC in lieu of EDLI, Group Personl Accident Insurnce Scheme, Group Svings Linked Insurnce Scheme, Group Mediclim Scheme re implemented for the welfre of the employees. Employees re encourged to cquire higher qulifictions, n re of empowerment which 51

54 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm in ys lds vksj vius Kku vksj fo'okl ds Lrj es lq/kkj dj lds A efgyk dezpkfj;ks rfkk dkiks Zjs'ku es iq#"k dezpkfj;ks dh ifru;ks ds mrfkku ds fy, gj lhko mik; fd, tkrs gsa diuh es L=h&iq#"k dksbz Hksn ugh fd;k tkrka choh,qlh,y es dkiks ZjsV lkekftd mrrjnkf;ro dk vfkz lekt rfkk gekjs vklikl jgus okys yksxks dk /;ku j[kuk gs rfkk mugs gj lhko ;ksxnku nsuk gs ftlls mudk ewy; c<+ lds vksj muds thou Lrj es lq/kkj gksa would enble them to go up the ldder in the compny s well s improve their knowledge nd confidence levels. Every possible steps re tken for upliftment of the femle employees nd the wives of the mle employees in the Corportion. There is no gender discrimintion in the Compny. At BVFCL, Corporte Socil Responsibility mens cring for the society, for the people round us nd contributing in every possible wy to dd vlue nd improving their qulity of life. 52

55 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm QkeZ & d ÅtkZ ds lj{k.k ds lc/k es fooj.kks ds [kqykls dk QkeZ% funs'kd dh fjiksvz dk vuqyxud &1 ¼d½ ANNEXURE-1 (A) TO DIRECTORS' REPORT FORM - A Form for disclosure of prticulrs with respect to conservtion of energy: d- fctyh vksj bz/ku [kir A. Power & Fuel Consumption bdkbz Unit fctyh 1. Electricity ¼d½ Ø;% fd-okv ¼,u-II½ () Purchsed Kwh (N-II) dqy ;wfuv ¼,u-III½ Totl Unit (N-III) dqy ykxr yk[k #i, Totl Cost Rs. in Lkhs nj #i,@fd-okv?kvk Rte Rs./Kwh ¼[k½ futh fo qr fd-okv ¼,u-II½ (b) Own Kwh (N-II) 0 0 mriknu Genertion dqy ;wfuv ¼,u-III½ Totl Unit (N-III) dqy ykxr yk[k #i, Totl Cost Rs. in Lkhs nj #i,@fd-okv?kvk Rte Rs./Kwh izkñfrd xsl 2. Nturl Gs ¼fcy ek=k½ (Billed Quntity) ¼d½ dsfivo ikoj () For Cptive l;= Power Plnt dqy ek=k,l,e 3 ¼,u-II½ Totl Quntity SM 3 (N-II) ,l,e 3 ¼,u-III½ SM 3 (N-III) dqy ykxr yk[k #i, Totl Cost Rs. in Lkhs nj #i,@1000,l,e 3 Rte Rs./1000 SM ¼[k½ ckw;yj ds fy, (b) For Boilers ¼,l-ch-]MCY;w-,p-ch-½ (S.B.,W.H.B.) dqy ek=k Totl Quntity ¼dS Vhu lfgr½,l,e 3 ¼,u-II½ (incl. Cnteen) SM 3 (N-II) ,l,e 3 ¼,u-III½ (N-III) dqy ykxr yk[k #i, Totl Cost Rs. in Lkhs nj #i,@1000,l,e 3 Rte Rs./1000 SM ¼x½ QhM LVkWd ds fy, (c) For Feed Stock dqy ek=k,l,e 3 ¼,u-II½ Totl Quntity SM 3 (N-II) ,l,e 3 ¼,u-III½ (N-III) dqy ykxr yk[k #i, Totl Cost Rs. in Lkhs nj #i,@1000,l,e 3 Rte Rs./1000 SM

56 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ¼?k½ lq/kkjd bz /ku (d) For Reformer ds fy,* Fuel* dqy ek=k,l,e 3 ¼,u-II½ Totl Quntity SM 3 (N-II) ,l,e 3 ¼,u-III½ (N-III) dqy ykxr yk[k #i, Totl Cost Rs. in Lkhs nj #i,@1000,l,e 3 Rte Rs./1000 SM [k- izfr eh-vu B. Consumption ;wfj;k mriknu per MT of [kir production of izkñfrd xsl Ure bdkbz Unit Nturl Gs (i) QhM LVkWd,l,e ¼,u-II½ (i) Feed Stock SM 3 /MT (N-II) ,l,e ¼,u-III½ (N-III) (ii) fctyh ¼lhihih½,l,e ¼,u-II½ (ii) Electricity (CPP) SM 3 /MT (N-II) ,l,e ¼,u-III½ (N-III) (iii) ckw;yj,l,e ¼,u-II½ (iii) Boilers SM 3 /MT (N-II) ,l,e ¼,u-III½ (N-III) (iv) fjqkezj bz /ku*,l,e ¼,u-II½ (iv) Reformer Fuel* SM 3 /MT (N-II) ,l,e ¼,u-III½ (N-III) fctyh Electricity (i) Ø; fd-okv@eh-vu ¼,u-II½ (i) Purchsed Kwh/MT (N-II) fd-okv@eh-vu ¼,u-III½ (N-III) (ii) mrikfnr fd-okv@eh-vu ;wfj;k (ii) Generted Kwh/MT Ure *,uth [kir es lgk;d ckw;yj vksj lgk;d ok"i lqij ghvj Hkh 'kkfey gsa * Includes NG consumption in Aux. Boiler & Aux. Stem Super Heter lso. 54

57 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kdks dh fjiksvz dk vuqyxud-i¼[k½ QkeZ [k izks ksfxdh lekos'k] fons'kh eqnzk vtzu vksj O;; ds lc/k es fooj.kks dk izdvhdj.k d- ÅtkZ lj{k.k mik;% fueufyf[kr ÅtkZ lj{k.k ;kstuk, dk;kzfuor dh tkrh gsa 1- veksfu;k-iii l;= es,uth cwlvj diz s'kj ds bvjdwylz vksj ckbzikl dwyj dh V~;wc] fefksu;qdr xsl dwyj dh V~;wCkks ] izkslsl jsfqztjs'ku diz s'kj ds dms ljks dh V~;wcks dks mlh LFkku ij cny fn;k x;k gsa veksfu;k-ii l;=ks es izkslsl,;j diz s'kj ds lrgh dms lj dh V~;wCkks rfkk izkslsl jsfqztjs'ku diz s'kj ds dwyjks vksj dms ljks dh V~;wcks dks cnyk x;k FkkA bu mik;ks ls i;kzir ek=k es ÅtkZ dh cpr gqbz gsa 2- diz s'kjks vksj iiks ds VckZbuks dh osd;we iz.kkfy;ks dh tkp dh xbz vksj mugs nq#lr fd;k x;ka 3- Mh&,fj,Vj es fm,fj,'ku LVªhe ds :i es uke:i&aa ds lfozl ckw;yj ds vkbzmh QSu vksj,qmh QSu ds VckZbu ls fudyus okyh LVªhe dk ykhkizn blrseky fd;k x;ka blls izkslls LVªhe dh 3 eh-vu@?kvk cpr gqbz gsa 4- ;wfj;k&aa l;= es gkbmªksykblj ls fudkys x, dms lsv dk Mh,e okwvj ;k ckw;yj QhM okwvj ds :i es iqu% iz;ksx fd;k tk jgk gsa 5- veksfu;k&aaa LVªhe ywi ls yxhkx 10 eh-vu@?kvk dh nj ls,yih LVªhe fudy jgh FkhA bldk dsfivo l;= es lsok ckw;yj vksj vif'k"v ghv ckw;yj ds ANNEXURE-I(B) TO DIRECTORS' REPORT FORM B DISCLOSURE OF PARTICULARS WITH RESPECT TO TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: A. ENERGY CONSERVATION MEASURES: Following energy conservtion schemes re implemented/under implementtion. 1. In-situ replcement of tubes of intercoolers & bypss cooler of NG Booster Compressor, tubes of Methnted Gs Cooler, tubes of condensers of Process Refrigertion Compressor in Ammoni-III Plnt hs been replced. In Ammoni-II plnts, tubes of surfce condenser of Process Air Compressor nd tubes of coolers nd condensers of Process Refrigertion Compressor were replced. These mesures hve resulted in considerble svings in energy. 2. Vcuum systems of turbines of Compressors nd Pumps were checked nd ttended. 3. The wste exhust stem from turbines of ID Fns & FD Fns of Service Boiler of Nmrup- II hve been utilized fruitfully s deertion stem in De-ertor. This hs led to 3 MT/Hr svings of Process stem. 4. The condenste drined from Hydrolyser in Ure-II Plnt is being reused s DM Wter or Boiler Feed Wter. 5. Around 10 MT/Hr of LP Stem ws getting vented from Ammoni-III Stem Loop. This is being used s deertion stem in De-ertor 55

58 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm [k- Mh&,fj,Vj es fm,fj,'ku LVªhe ds :i es blrseky fd;k tk jgk gsa izks ksfxdh lekos'k% 1- xsl VckZbu-II dh ejeer ds nksjku rduhdh muu;u fd;k x;k gsa blds nwljs pj.k ds uksty dks vr;kèkqfud [k.m vk/kkfjr ekwmy ls cny fn;k x;k gsa blls izkd`frd xsl dh [kir es deh gqbz gs vksj xsl fudklh ds rkieku es deh vkbz gsa 2- veksfu;k&aa es izkfkfed fjqkezj dsvsfylv dks muur eyvh&gksy dsvsfylv ls cnyk x;k gsa 3- uke:i-iii ds flfksfll dovzj es,l&100 Vkbi ckwldsv gsa ekstwnk dovzj dks uohure fmtkbu dh,l&200 ckwldsv ds lkfk jsvªksfqv fd;k tk,xk ftlls ifjorzu n{krk c<+ s vksj ÅtkZ [kir es deh gksa o"kz ds nksjku,l&200 ckwldsv dks cny fn;k x;k gsa 4- veksfu;k flfksfll xsl diz s'kj dks vkrfjd vksj bysdvªkwfud pkfyr iz.kkyh lfgr u, fmtkbu dh jksvj ls jsvªksfqv fd, tkus dh ;kstuk gs D;ks fd ekstwnk fmtkbu dh jksvj dk vc fuekz.k ugh fd;k tkrk vksj ;g iqjkuh gks xbz gsa lhkh lgk;d midj.kks lfgr u, jksvj dk vkmzj ns fn;k x;k gsa x- vuql/kku vksj % 'kwu; fodkl iz;kl?k- vuql/kku vksj fodkl ds ifj.kkelo:i izkir ykhk % 'kwu; M- fons'kh fofue; vk; vksj tkjh jkf'k % dkwiks Zjs'ku us o"kz 2011&12 ds nksjku yk[k #i, ewy; dk eh- Vu ;wfj;k dk fu;kzr fd;k gsa o"kz ds nksjku of Service Boiler & Wste Het Boilers in Cptive Power Plnt. B. Technology Absorption : 1. Technicl Upgrdtion of Gs Turbine-II hs been done during its overhuling. Its second stge nozzle replced with segmented type stte of rt version. This hs led to reduction of Nturl Gs consumption nd lowering of exhust gs temperture. 2. The Primry Reformer ctlyst in Ammoni-II hs been replced with improved multi-hole ctlyst. 3. The synthesis converter of Nmrup-III hs S- 100 type bsket. The present converter will be retrofitted with ltest design S-200 bsket thereby incresing conversion efficiency nd reduction in energy consumption. The S-200 bsket hs been replced during the yer. 4. EMG Turbine of Ammoni Synthesis Gs Compressor will be retrofitted with rotor of new design long with internls nd electronic governing system s rotor of existing design is no more mnufctured hs become obsolete. Order for new rotor with ll ccessories hs been plced. C. R & D Efforts : Nil D. Benefit derived s result of R & D : Nil E. Foreign Exchnge Erning nd Outgo : The Corportion exported MT of ure to Nepl in , vlued Rs Lcs. 56

59 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm diuh us o"kz 2011&12 ds fy, jlk;u vksj dsfvfylv lfgr vk;kfrr iw th eky] O;kolkf;d ijke'khz 'kqyd] dpph lkexzh] Hk.Mkj.k vksj vfrfjdr iqts Z rfkk?kvd [kjhns gs ftudk ewy; yk[k #i, FkkA During the yer, Compny's purchse of imported Cpitl Good, Professionl Consultncy Fees, Rw Mteril, Stores & Spres Prts nd Components including Chemicls nd Ctlysts for the yer ws Rs Lcs. 57

60 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kd dh fjiksvz dk vuqyxud-i ¼x½ ANNEXURE-I (C ) TO DIRECTORS' REPORT 1 tuojh] 2012 dks v-tk-] v-t-tk- vu; finm+k oxz rfkk 'kkjhfjd fodykx dk izfrfuf/kro n'kkzus okyk okf"kzd fooj.k RkFkk finys dsys.mj o"kz ds nksjku dh xbz fu;qfdr;ks dh l[;k ANNUAL STATEMENT SHOWING THE REPRESENTATION OF SCs, STs, OBCs nd PHs AS ON 1ST JANUARY, 2012 AND NUMBER OF APPOINTMENTS MADE DURING THE PRECEDING CALENDER YEAR. lkoztfud m e dk uke% czg~eiq= osyh QfVZykbtj dkikszjs'ku fyfevsm] uke:i NAME OF THE PUBLIC ENTERPRISES:, NAMRUP. lewg dks v-tk-@v-t-tk@ 2011 dsys.mj o"kz ds nksjku dh xbz fu;qfdr;ks dh l[;k vu; finm+k oxz dk izfrfuf/kro Groups Representtion of SCs/STs/OBCs Number of ppointments mde during the clendr yer 2011 s on lh/kh HkrhZ i)fr }kjk inksuufr }kjk vu; rjhds }kjk By Direct Recruitment Method By Promotion By Other Methods dezpkfj;ks dh v-tk- v-t-tk- v-fi-o- ;ksx v-tk- v-t-tk- v-fi-o- ;ksx v-tk- v-t-tk- v-fi-o- ;ksx v-tk- v-t-tk- v-fi-odqy l[;k Totl No. of SCs STs OBCs Totl SCs STs OBCs Totl SCs STs OBCs Totl SCs STs OBCs employees lewg d (*) Group A lewg [k Group B lewg x (**) Group C 58

61 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm lewg?k ¼lQkbZ dezpkfj;ks dks NksM+dj½ Group D (Excluding Sfi Krmchri) lewg?k ¼lQkbZ dezpkjh½ Group D (Sfi Krmchri) ;ksx Totl (*) dsys.mj o"kz 2011 ds nksjku lgk;d bthfu;j ds :i es lewg&d es 26 izc/ku izf{k"kqvks dks fu;fer fd;k x;k gsa (**) dsys.mj o"kz 2011 ds nksjku izpkyd xzsm&aa ds :i es lewg&x es 25 izpkyd izf{k"kqvks dks fu;fer fd;k x;k gsa blds vykok] dsys.mj o"kz 2011 ds nksjku lewg d es 04 izc/ku izf'k{kqvks ¼v-tk-&1½ rfkk lewg x es 01 vkwvks rduhdh izf'k{kq ¼v-t-tk-&01½ dh HkrhZ dh xbz gsa (*) 26 nos. of Mngement Trinee hs been regulrized in Group -A s Assistnt Engineer during the Clendr yer (**) 25 nos. of Opertor Trinee hs been regulrized in Group- C s Opertor Grde - II during the Clendr yer In ddition to this, 04 nos. Mngement Trinees (SC- 01) in group A nd 01 Auto Technicin Trinee (ST-01) in Group C hve been recruited during the Clendr yer 'kkjhfjd :i ls fodykx yksxks dk izfrfuf/kro fueukuqlkj gs ¼;g tu'kfdr mi;qzdrk fooj.k es 'kkfey gs½% The representtion of physiclly hndicpped mnpower s under (included in the bove sttement): lewg ;ksx v-tk- v-t-tk vu; finm+k oxz Group Totl SCs STs OBCs lewg [k Group B lewg x Group C lewg?k Group D

62 Z ZZ Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm dkwiks ZjsV xous l funs'kd dh fjiksvz dk vuqyxud-ii dkwikszjsv xouszl ij deiuh dk fl)kr dkwiks ZjsV xous Zl ch-oh-,q-lh-,y- es,d lrr~ iz;kl jgk gs tks iz.kkyh ds lhkh?kvdks dh leiw.kz HkykbZ vksj dy;k.k dks è;ku es j[krk gs vksj izr;sd dkjksckj ds lhkh fu.kz;ks es Hkkxhnkjks ds fgrks dk [;ky j[krk gsa diuh dkwiks ZjsV xous Zl ds mppre ekudks dk ikyu djds fodkl djus ds fy, izfrc) gsa bldk ewy mn~ns'; lhkh Lrjks ij fuxfer n`f"vdks.k ds izfr tkx:drk mriuu djus vksj vkstiw.kz mtkzokn rfkk mn~;e'khyrk ds izfr tkx#d dkjiksjsv lld`fr] ikjnf'kzrk vksj mnkjoknh n`f"vdks.k viukuk vksj mldk ikyu djuk gsa deiuh dk ekuuk gs fd xous l dks dkjiksjsv y{;ks ds lkfk O;fDrxr fgrks es lrqyu cukuk pkfg, rfkk xjhch] lekurk] mfpr vksj U;k;ksfpr ds Lohd`r ekun.mks ds vuqlkj izpkyu djuk pkfg,a choh,qlh,y es fu.kz; ysus es lq/kkj djus vksj,sls fu.kz;ks ds ihns rdzlxrrk ds fy, tokcnsgh vksj ikjnf'kzrk ij cy fn;k tkrk gs rkfd Hkkxhnkjks dk fo'okl thrk tk ldsa I. funs'kd e.my% d- cksmz dk xbu ch-oh-,q-lh-,y- diuh vf/kfu;e] 1956 dh /kkjk 617 ds izko/kkuks ds vuqlj.k es,d ^ljdkjh diuh* gs] ftldh 100% iznrr 'ks;j iw th Hkkjr ds jk"vªifr }kjk /kkfjr gsa cksmz ds lnl;ks dh fu;qfdr Hkkjr ds jk"vªifr }kjk dh tkrh gsa ANNEXURE-II TO DIRECTORS' REPORT CORPORATE GOVERNANCE COMPANY'S PHILOSOPHY ON CORPORATE GOVERNANCE Corporte Governnce hs been continuous endevor t BVFCL tht cres for the overll wellbeing nd welfre of ll constituent of the system nd tkes into ccount the stkeholders interest t every business decision. The compny is committed to pursue growth by dhering to the highest stndrds of corporte governnce. The primry objective is to crete nd dhere to corporte culture of consciousness, trnsprency nd openness in creting wreness of corporte vision nd sprk dynmism nd entrepreneurship t ll levels. Compny believes tht governnce must blnce individul interest with corporte gols nd operte within ccepted norms of propriety, equity, fir ply nd sense of justice. At BVFCL, ccountbility nd trnsprency re key drivers to improve decision mking nd rtionle behind such decisions to crete stkeholders confidence. I. BOARD OF DIRECTORS: A. CONSTITUTION OF BOARD Pursunt to the provisions of Section 617 of the Compnies Act, 1956, BVFCL is "Government Compny" holding 100% of its pid up shre cpitl by the President of Indi. Members of the Bord re ppointed by the President of Indi. [k- tokcnsgh vksj cksmz@lfefr dh ewy;kdu izfø;k cksmz dk mrrjnkf;ro diuh dh j.kuhfrd uhfr;ks dk i;zos{k.k djuk vksj dkjiksjsv fu"iknu dh leh{kk vksj fuxjkuh djuk rfkk diuh ds izpkyu es dk;zikyd izc/ku ds tksf[ke dks de djus okys B. RESPONSIBILITIES AND EVALUATION PROCESS OF BOARD/COMMITTEE The responsibilities of Bord is to oversee the compny's strtegic policies, review nd monitor corporte performnce, ensure regultory complince nd reviewing the risk minimizing 60

63 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm iz;klks dh leh{kk djuk gsa cksmz] lfefr@cksmz ds fu"iknu dk ewy;kdu djus ds fy, mi;qdr iz.kkyh ij fopkj dj jgk gsa x- cksmz@lfefr dh csbds vksj izfø;k, I. fu.kz; ysus dh izfø;k dks llfkkxr cukuk II. lhkh dkwiks ZjsV ekeyks dks llfkkxr cukus vksj cksmz }kjk visf{kr ppkz@fu"d"kks ds ekeyks gsrq vfxze ;kstuk cukus ds fy, iz.kkyh vksj izfø;kvks dh LFkkiuk djus gsrq dkiks Zjs'ku us funs'kd e.my vksj mldh lfefr dh csbdks ds fy, fn'kk&funs Z'k ifjhkkf"kr fd, gsa bu fn'kk&funs Z'kks es cksmz@lfefr dh csbdks dks fu.kz; ysus dh izfø;k dks lwfpr vksj dkjxj <x ls dkjxj cukus dh vis{kk dh xbz gsa cksmz csbdks ls lcf/kr diuh ds fn'kk&funs Z'kks tgk rd O;kogkfjd gks] lfefr dh csbdks ds fy, ykxw gksrs gsa cksmz@lfefr dh csbdks ds fy, vuqlwph rfkk dk;zlwph enks dk p;u i) cksmz@lfefr ds v/;{k dk vuqeksnu izkir djus ds ckn mi;qdr vfxze uksfvl nsrs gq, csbds cqykbz tkrh gsa fof'k"v rrdky vko';drk dks iwjk djus ds fy, vyi uksfvl ij Hkh csbds cqykbz tkrh gsa rkrdkfydrk ;k vkdfledrk ds ekeys es ldyi ckjh&ckjh ls ikfjr fd, tkrs gsa efforts of executive mngement in the opertion of Compny. Bord is considering pproprite mechnism for evluting performnce of Committees/Bord. C. BOARD / COMMITTEE MEETINGS AND PROCEDURES I. INSTITUTIONALIZE DECISION MAKING PROCESS II. With view to institutionlize ll corporte ffirs nd set up systems nd procedures for dvnce plnning for mtters requiring discussion/decisions by the Bord, the Corportion hs defined guidelines for the meetings of the Bord of Directors nd Committee thereof. These guidelines seek to systemtize the decision mking process t the meetings of Bord/Committees, in n informed nd efficient mnner. Compny's guidelines relting to Bord meetings re pplicble to Committee Meetings s fr s prcticble. SCHEDULING AND SELECTION OF AGENDA ITEMS FOR BOARD/ COMMITTEE MEETINGS i) The meetings re convened by giving pproprite dvnce notice fter obtining pprovl of the Chirmn of the Bord/ Committee. To ddress the specific urgent need, meetings re lso being clled t shorter notice. In cse of exigencies or urgency, resolutions re pssed in circultion. ii) csbdks es vfkziw.kz] lwfpr vksj dsfunzr fu.kz; ysus ds fy, lnl;ks dks vfxze es izc/ku fjiksvs vksj vu; vuos"k.kkred fooj.k ifjpkfyr fd;k tkrk gsa tgk fdlh nlrkost ;k,ts Mk ds xksiuh; izd`fr dk gksus ds dkj.k ifjpkfyr djuk lhko u gks] ogk mls lh,emh ds vuqeksnu ls izlrqr fd;k tkrk gsa fo'ks"k vksj vlk/kkj.k ifjflfkfr;ks es vfrfjdr ;k vuqiwjd,tsmk ij fopkj fd;k tkrk gs c'krsz fd ii) Detiled gend contining the mngement reports nd other explntory sttements re circulted in dvnce mongst the members for fcilitting meningful, informed nd focused decisions t the meetings. Where it is not prcticble to circulte ny document or the gend is of confidentil nture, the sme is tbled with the pprovl of CMD. In specil 61

64 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm dk vuqeksnu izkir gksa nd exceptionl circumstnces, dditionl or supplementry gend re being considered subject to the permission of CMD/Bord/ Committee. iii) cksmz ds lnl; diuh dh lhkh lwpuk izkir djus rfkk ppkz gsrq,ts Mk es fdlh ekeys dks 'kkfey djus dh flqkfj'k djus ds fy, eqdr gsa vko';drk im+us ij ofj"b izc/ku dks cksmz dh csbdks es Hkkx ysus ds fy, vkef=r fd;k tkrk gs rkfd cksmz es ppkz fd, tk jgs izlrqr dh tk jgh enks ds lc/k es vfrfjdr vknku miyc/k djk;k tk ldsa iii) The members of the Bord re entitled to ccess ll the informtion of the compny nd re free to recommend inclusion of ny mtter in gend for discussion. In cse of need, the senior mngement is invited to ttend the Bord Meetings to provide dditionl inputs relting to the items being discussed nd / or giving presenttion to the Bord. iv) cksmz@lfefr dh csbds lkeku;rk uke:i es diuh ds ithd`r dk;kzy; es vk;ksftr dh tkrh gs ysfdu o"kz ds nksjku ljdkjh funs'kdks dh iwoz&o;lrrk ds dkj.k cksmz@lfefr dh csbd s ubz fnyyh es vk;ksftr dh xbz FkhA v) ofj"b izc/ku dk;zikydks }kjk muds fohkkx ls lcfèkr dk;zlwph nlrkost rs;kj fd, tkrs gs ftugs lcf/kr dk;kzred funs'kdks vksj lh,emh }kjk vuqeksfnr fd;k tkrk gsa diuh ds lfpo }kjk cksmz@lfefr ds lnl;ks es fof/kor vuqeksfnr dk;zlwph nlrkost vfxze es ifjpkfyr fd, tkrs gsa iv) The meetings of the Bord/Committee re normlly held t the registered office of the compny t Nmrup but during the yer, due to pre-occuption of Govt. Directors, the Bord/ Committee meetings were held in New Delhi. v) The gend ppers re prepred by the Sr. Mngement executives relted to their deprtment, sponsored by the concerned functionl Directors nd pproved by the CMD. Duly pproved gend ppers re circulted mongst the members of the Bord/Committee by the Compny Secretry well in dvnce. vi) diuh lfpo finyh cksmz@lfefr dh csbdks ds fu.kz;ks ds vk/kkj ij dh xbz dkjzokbz fjiksvks ls lcfèkr fohkkx ds lkfk vuqorhz dk;zokgh djrk gs rfkk csbd dh dk;zlwph es 'kkfey djus ls igys dk;kzred funs'kdks vksj lh,emh ds lkfk ijke'kz djds fjiksvz dk lesdu djrk gsa vi) Compny Secretry mkes regulr follow up with the Deprtment concerned for the ction tken reports bsed on the decisions of erlier Bord/Committee meetings nd compiled the reports in consulttion with Functionl Directors nd CMD before including in the gend of the meeting. vii) izr;sd cksmz@lfefr dh csbd dh dk;zokfg;ks ds dk;zo`rr dks,d lirkg ds vnj vfre :Ik fn;k tkrk gs rfkk mls lnl;ks vksj lcf/kr izkf/kdkfj;ks es ifjpkfyr fd;k tkrk gsa lfefr dh csbd ds dk;zo`rr dks cksmz }kjk mudh vxyh csbd }kjk Hkh uksv fd;k tkrk gsa vii) Minutes of the proceedings of ech Bord/ Committee meeting re finlized within week nd circulted to ll the members nd concerned uthorities. These minutes re confirmed in the next Bord/Committee meeting. Minutes of the meeting of the Committee is lso noted by the Bord in its next meeting. 62

65 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm viii) III.?k- ds fu.kz;ks dk lkj diuh lfpo }kjk mu ij vko';d dkjzokbz djus ds fy, lcf/kr fohkkxks ds fohkkxk/;{kks dks ifjpkfyr fd;k tkrk gsa dkuwuks dk vuqikyu dk;zikyd izc/ku djuk] fu;eks vksj fn'kk&funs Z'kks vkfn ds lhkh ykxw izko/kkuks dk vuqikyu lqfuf'pr djus ds fy, fteesnkj gksrk gsa lhkh ykxw dkuwuks ] fu;eks ] fn'kk&funs Z'kks vkfn dk vuqikyu lqfuf'pr djus ds fy,,d frekgh lkfof/kd vuqikyu fjiksvz ¼lHkh fohkkxks ls,df=r½ dh cksmz }kjk fu;fer :i ls leh{kk dh tkrh gsa cksmz dh csbds leh{kk/khu o"kz ds nksjku funs'kd emy dh lkr csbds vk;ksftr dh xbz Fkh ftudk C;kSjk uhps fn;k x;k gs% cksmz dh fnukd lfeefyr funs'kdks csbdks dh l[;k dh l[;k M- cksmz dh ljpuk orzeku es diuh ds funs'kd e.my es pkj funs'kd gs ftues Jh,u-ds- lkgk] funs'kd ¼mRiknu½] ftugs v/;{k,o izc/k funs'kd] choh,qlh,y dk vfrfjdr izhkkj lksik x;k gsa Jh fot; jtu flg] funs'kd ¼moZjd½] mozjd fohkkx] Jh jktho dqekj] mi lfpo ¼,,.Moh½] mozjd fohkkx rfkk Jh fprk os dv Ñ".kk] Lor= funs'kd gsa viii) The extrct of decisions of Bord/Committee re circulted by the Compny Secretry to the HODs of concerned Deprtments for tking necessry ctions thereon. III. COMPLIANCE OF LAWS Executive mngement is responsible to ensure dherence to ll the pplicble provisions of lws, rules nd guidelines, etc. A qurterly sttutory complince report (collected from ll the deprtments) confirming dherence to ll the pplicble lws, rules, guidelines, etc. is reviewed by the Bord regulrly. D. BOARD MEETINGS During the yer under review, seven meetings of Bord of Directors were held, detils of which re s under : Bord Dte No. of Directors Meeting No. ttended E. COMPOSITION OF BOARD There re four Directors on the Bord of the Compny t present, comprises Shri N.K.Sh, Director (Production) holding dditionl chrge for the post of Chirmn nd Mnging Director, BVFCL, Shri Vijy Rnjn Singh, Director (Fertilizers),DOF, Shri Rjiv Kumr, Deputy Secretry (A &V),DOF nd Shri Chint Venkt Krishn, Independent Director. 63

66 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kdks ds xbu vksj Js.kh] cksmz dh csbdks vksj finyh okf"kzd vke csbd es izr;sd funs'kd dh miflfkfr funs'kd vksj izr;sd funs'kd dh vu; deifu;ks dh lfefr;ks es lnl;rk dk fooj.k uhps fn;k x;k gs% The detils of composition nd ctegory of Directors, ttendnce of ech Director t the Bord Meetings nd the lst AGM, directorship nd membership in committees of other compnies for ech director of the compny re given below. Ukke loz@jh miflfkfr fooj.k funs'kd vksj lfefr lnl;@ v/;{k dk fooj.k Nme S/Shri Attendnce prticulrs Detils of Directorship nd committee members/chirmn dk;zdkjh funs'kd Functionl Directors o"kz ds nksjku dks vu; lkoztfud lfefr lnl;rk csbdks es Hkkx ysus gqbz finyh difu;ks es vksj lfefr okyks dh l[;k okf"kzd vke csbd funs'kdks dk v/;{krk dk C;kSjk fooj.k No. of meetings Lst AGM Detils of Detils of committee ttended during Held on Directorships in memberships nd the yer other public limited committee compnies Chirmnship Jh jkekj; flg] v/;{k,o 3 miflfkr,q,vkbz izc/k funs'kd ¼ rd½ Shri Rmshry Singh, CMD 3 Present FAI (Upto ) Jh,u-ds- lkgk] 7 miflfkr 'kwu; ys[kk&ijh{kk lfefr funs'kd ¼mRiknu½ es lnl; lh,emh] choh,qlh,y¼*½ ds in ikfjjfed lfefr ds ds vfrfjdr izhkkj lfgr lnl; N.K. Sh, 7 Present Nil Member in Audit Director (Production) Committee holding dditionl chrge of Member in the post of CMD, BVFCL(*) Remunertion Committee v'kdkfyd ljdkjh funs'kd Prt Time Officil Directors Jherh yfyrk nkl] 4 vuqiflfkr 'kwu; ys[kk&ijh{kk lfefr mi lfpo ¼,,M oh½] mozjd fohkkx ds vè;{k ¼ rd½ ikfjjfed lfefr ds lnl; 64

67 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Smt. Llith Ds 4 Not present Nil Member in Audit Deputy Secretry (A&V), DOF Committee (Upto ) Member in Remunertion Committee Jh euh"k f=ikbh] 4 vuqiflfkr 'kwu; ys[kk&ijh{kk lfefr mi lfpo ¼moZjd½] mozjd fohkkx ds v/;{k ¼ ¼ rd½ rd½ ikfjjfed lfefr ds lnl; Shri Mnish Tripthi 4 Not present Nil Chirmn of Audit Deputy Secretry (Fertilizer), Committee (upto DOF (Upto ) ) Member in Remunertion Committee Jh uhjt fl?ky] 2 vuqiyc/k,qlhvkbz,y ys[kk&ijh{kk lfefr funs'kd ¼ih,l;w½] mozjd fohkkx ¼i;Zos{kd ds :i ihih,y ds v/;{k ¼fnukd ls es,d csbd es ikfjjfed lfefr ds rd½ Hkkx fy;k½ lnl; Shri Neerj Singhl 2 N.A. FCIL Member of Audit Director (PSU), DOF (One meeting PPL Committee (From to ttended s Member in ) observer) Remunertion Committee Jh fot; jtu flg] 1 vuqiyc/k,qlhvkbz,y ys[kk&ijh{kk lfefr funs'kd ¼moZjd½] mozjd fohkkx ds v/;{k ¼ ls½ ikfjjfed lfefr ds lnl; Shri Vijy Rnjn Singh, 1 N.A. FCIL Member of Audit Director (Fertilizer), DOF Committee (From ) Member in Remunertion Committee Jh jktho dqekj] 1 vuqiyc/k ys[kk&ijh{kk lfefr mi lfpo ¼,,.Moh½] mozjd fohkkx ds v/;{k ¼ ls½ ikfjjfed lfefr ds lnl; Shri Rjiv Kumr 1 N.A. Member of Audit Deputy Secretry (A&V), DOF Committee (From ) Member in Remunertion Committee 65

68 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm v'kdkfyd ljdkjh funs'kd Non Officil Prt Time Director (Independent Director) Jh fprk osdv Ñ".kk 2 vuqiyc/k ys[kk&ijh{kk lfefr ¼ ls½ ds v/;{k ikfjjfed lfefr ds lnl; Shri Chint Venkt Krishn 2 N.A. Chirmn of Audit (From ) Committee Chirmn of Remunertion Committee diuh dk dksbz funs'kd mu lhkh deifu;ks es ] ftldk og funs'kd gs] 10 ¼nl½ ls vf/kd lfefr;ks es lnl; ;k 5 ¼ikp½ ls vf/kd lfefr;ks dk v/;{k ugh gsa cksmz es v'kdkfyd xsj&ljdkjh ¼Lor=½ funs'kd dh fu;qfdr ds fy, diuh us Mh-ih-bZ- ds dk;kzy; Kkiu l0 18¼6½@2000&th-,e- fnukd es fufgr ljdkj dh uhfr ds vuqlkj jlk;u,o mozjd e=ky; ds le{k bl ekeys dks j[kk gsa p- vkpj.k lfgrk choh,qlh,y ds funs'kd e.my ds vuqeksnu ds ckn yksd m e fohkkx }kjk tkjh dkiks ZjsV 'kklu lcèkh fn'kk&funs Z'kks ds vuqlkj diuh us cksmz ds lnl;ks vksj ofj"b izc/ku dk;zikyd ds fy, vkpj.k lfgrk fu;ekoyh fu/kkzfjr dh gsa dkiks Zjs'ku dh osclkbv ij vkpj.k lfgrk Hkh iznf'kzr dh xbz gsa vkpj.k lfgrk dk vuqikyu forrh; o"kz 2011&12 ds fy, cksmz ds lhkh lnl;ks vksj ofj"b izc/ku dk;zikydks ls izkir iqf"v ds vk/kkj ij vkpj.k lfgrk ds vuqikyu dh iqf"v dh xbz gsa bl lc/k es vè;{k,o izc/k funs'kd }kjk fof/kor glrk{kfjr,d?kks"k.kk vuqyxud-ii¼d½ es nh xbz gsa No Director of the compny is member in more thn 10 (ten) committee or is Chirmn of more thn five (5) committees cross ll compnies in which he is Director. For the ppointment of Prt-time non-officil (Independent) Directors on the Bord, compny hs tken up the mtter with the Ministry of Chemicls nd Fertilizers s per the Govt. Policy contined in DPE OM No. 18(6)/ GM dted F. CODE OF CONDUCT As per the guidelines on Corporte Governnce relesed by Deprtment of Public Enterprises, fter pprovl of the Bord of Directors of BVFCL, the Compny hs lid down its Code of Conduct Rules for the Bord Members nd Senior Mngement Executives. The Code of Conduct is lso posted on the website of the Corportion, The Complince of the Code of Conduct hs been ffirmed on the bsis of confirmtion received from ll the Bord members nd senior mngement executives for the finncil yer A declrtion to this effect, duly signed by the Chirmn nd Mnging Director is plced t Annexure-II(A). 66

69 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm p- funs'kd e.my ds le{k j[kh tkus okyh lwpuk dk;zikyd izc/ku] funs'kd e.my ds le{k fueufyf[kr lwpuk, ;k rks dk;zlwph i= ds Hkkx ds :i es j[ksxk ;k cksmz dh csbd ds nksjku izlrqr djsxk% okf"kzd izpkyu ;kstuk vksj ctv rfkk vu; v ru flfkfra iw th ctv vksj dksbz v ru flfkfra diuh vksj blds izpkyu izhkkxks ;k dkjksckj ds fglls dk frekgh ifj.kkea ys[kk&ijh{kk lfefr vksj cksmz dh vu; lfefr;ks dh csbd ds dk;zo`rra cksmz LRkj ls Bhd uhps ds ofj"b vf/kdkfj;ks dh HkrhZ vksj ikfjjfed lfgr eq[; forrh; vfèkdkjh vksj diuh lfpo dh fu;qfdr ;k fu"dklu dh lwpuka dkj.k crkvks] ekx] eqdnek pyk, tkus dh lwpuk, vksj n.m dh lwpuk,] tks olrqr% egroiw.kz gks A?kkrd ;k xhkhj nq?kzvuk,] [krjukd?kvuk,] dksbz nzo;kred cfglzko ;k i;kzoj.k iznw"k.k dh lel;k,a diuh ds fy, ;k diuh }kjk forrh; nkf;roks es dksbz lkexzh pwd ;k diuh }kjk csps x, eky dk i;kzir Hkqxrku ugh gksuka,slk dksbz ekeyk] ftles HkkSfrd izd`fr ds lhkkfor turk ;k mrikn nkf;ro ds nkos 'kkfey gks ] fdlh fu.kz; ;k vkns'k lfgr ftles diuh ds vkpj.k ij funz s'k fn;k x;k gks ;k nwljs m e ds izfr foijhr n`f"vdks.k viuk;k x;k gks ftl ij diuh ij udkjkred izhkko im+ ldrk gksa G. INFORMATION PLACED BEFORE THE BOARD OF DIRECTORS Executive Mngement shll present following informtion before the Bord of Directors, either s prt of the gend ppers or re tbled/presented during the course of Bord meeting : Annul operting plns nd budgets nd ny updtes. Cpitl budgets nd ny updtes. Qurterly results for the compny nd its operting divisions or business segments. Minutes of meetings of udit committee nd other committees of the Bord. The informtion on recruitment nd remunertion of senior officers just below the bord level, including ppointment or removl of Chief Finncil Officer nd the Compny Secretry. Show cuse, demnd, prosecution notices nd penlty notices which re mterilly importnt. Ftl or serious ccidents, dngerous occurrences, ny mteril effluent or pollution problems. Any mteril defult in finncil obligtions to nd by the compny or substntil non-pyment for goods sold by the compny. Any issue, which involves possible public or product libility clims of substntil nture, including ny judgement or order which my hve pssed strictures on the conduct of the compny or tken n dverse view regrding nother enterprise tht cn hve negtive implictions on the compny. 67

70 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fdlh l;qdr m e ;k lg;ksx djkj dk fooj.ka,slk ysu&nsu ftles lk[k] czk.m bfdovh ;k cksf)d leink ds fy, i;kzir Hkqxrku fd;k x;k gksa egroiw.kz Je lel;k, vksj mudk izlrkfor lekèkku] ekuo llk/ku@vks ksfxd lc/k ds eksps Z ij dksbz egroiw.kz fodkl tsls] osru le>ksrk ij glrk{kj] LoSfPNd lsok&fuo`frr ;kstuk vkfna fuos'k dh vuq"kxh ifjleifrr;ks ds olrqxr izd`fr dh fcøh] tks lkeku; dkjksckj dk fgllk ugh gksrka fons'kh eqnzk fofue; ds [kqyklk dk frekgh fooj.k vksj eqnzk fofue; nj ds izfrdwy mrkj&p<+ko ds tksf[ke dks lhfer djus ds fy, izc/ku }kjk mbk, x, dne] ;fn egroiw.kz gks A fdlh Hkh fofu;ked] los/kkfud ;k lwphc) vko';drkvks vksj 'ks;j/kkjdks dh lsok, tsls ykhkk'k dk Hkqxrku ugh gksuk] 'ks;j glrkrj.k es foyec] vkfn dk vuqikyu u gksuka t- Hkz"Vkpkj mt+kxj djus dh uhfr jlk;u vksj mozjd e=ky; ds vrxzr,d ljdkjh diuh gksus ds dkj.k choh,qlh,y eq[; lrdzrk vk;ksx ¼lhohlh½ ds vrxzr vkrh gsa blfy,] lhohlh ds fn'kk&funs Z'kks ds vuqlkj diuh es mlds lhkh dezpkfj;ks vksj xzkgdks ds fy,,d iz.kkyh LFkkfir dh xbz gs rkfd os fdlh vusfrd O;ogkj] oklrfod ;k lnsgklin /kks[kk/km+h ds ckjs es lhohvks ;k v/;{k,o izc/k funs'kd dks lh/ks lwpuk ns lds A fdlh dezpkjh dks funs'kd emy dh ys[kk&ijh{kk lfefr ds ikl tkus dh eukgh ugh gsa >- mt+kxj djuk% diuh us funs'kdks ;k muds lcf/k;ks ds lkfk dksbz Detils of ny joint venture or collbortion greement. Trnsctions tht involve substntil pyment towrds goodwill, brnd equity, or intellectul property. Significnt lbour problems nd their proposed solutions. Any significnt development in humn resources/industril reltions front like signing of wge greement, implementtion of Voluntry Retirement Scheme etc. Sle of mteril nture of investments, subsidiries, ssets, which is not in norml course of business. Qurterly detils of foreign exchnge exposures nd the steps tken by mngement to limit the risks of dverse exchnge rte movement, if mteril. Non-complince of ny regultory, sttutory requirements nd shreholders service such s non-pyment of dividend, dely in shre trnsfer etc. H. WHISTLE BLOWER POLICY BVFCL being Government Compny under Ministry of Chemicls nd Fertilizers is covered under Chief Vigilnce Commission (CVC). Therefore, s per CVC guidelines, mechnism hs been estblished in the Compny for ll its employees nd clients to report bout ny unethicl behvior, ctul or suspected frud to the CVO or the Chirmn nd Mnging Director directly. No employee hs been denied ccess to the Audit Committee of the Bord of Directors. I. DISCLOSURES : The Compny hs not entered into ny relted 68

71 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm lcf/kr ikvhz ysunsu ugh fd;k gs ¼funs'kdks }kjk mn~?kkvu O;fDrxr :i ls diuh vf/kfu;e dh èkkjk 299 ds vuqlj.k es fd;k x;k gs ftudk diuh es lhkkfor fgr gs] ftls cksmz }kjk uksv fd;k x;k FkkA lcf/kr ikfvz;ks ds lkfk ysunsu dks fvii.kh u es n'kkz;k x;k gs tks lcf/kr ikvhz ysunsu ij ys[kkdu ekud&18 ds vuqlkj okf"kzd ys[kkvks dk fgllk gs½a diuh us finys rhu o"kks ds nksjku fu;eks ds vrxzr xsj&vuqikyu ds dkj.k fdlh lkfof/kd izkf/kdkjh }kjk diuh ij n.m ugh yxk;k x;k gsa diuh us o"kz 2010 es yksd m e fohkkx ¼MhihbZ½ }kjk tkjh dkiks ZjsV 'kklu lc/kh fn'kk&funs Z'kks dk vuqikyu djus ds fy, dne mbk, gsa diuh us forrh; o"kz 2011&12 ds nksjku dksbz jk"vªifr funs Z'k izkir ugh fd;k gsa diuh dk lxbu es psrkouh tkjh djus dh uhfr dh i;kzir iz.kkyh gs vksj og ;g iqf"v djrh gs fd fdlh dkfezd dks ys[kk&ijh{kk lfefr es tkus dh eukgh ugh gsa cgh [kkrks es O;; lc/kh,slh dksbz en _.k es ugh Mkyh xbz gs tks O;olk; ds iz;kstu ds fy, u gksa,slk dksbz O;; ugh fd;k x;k gs ftldh izd`fr O;fDrxr gks vksj funs'kd e.my rfkk 'kh"kz izc/ku ds fy, [kpz dh xbz gksa forrh; O;; dh rqyuk es dqy O;; ds izfr'kr ds :i es iz'kklfud vksj dk;kzyk; O;; dk C;kSjk rfkk o`f) ds dkj.k fueukuqlkj gs% prty trnsctions with the Directors or their reltives (Disclosure mde by directors individully pursunt to Section 299 of Compnies Act) hving potentil interest with the Compny t lrge, which were noted by the Bord. Trnsctions with relted prties re disclosed in Note no. 2.3 forming prt of the Annul Accounts, in line with the Accounting Stndrd-18 on Relted prty Trnsctions. The Compny hs not been imposed penlty by ny sttutory uthority owing to noncomplince under lws, during the lst three yers. The Compny hs tken steps to comply with the guidelines on Corporte Governnce issued by Deprtment of Public Enterprises (DPE) relesed in The Compny hs not received ny Presidentil directive during the finncil yer Compny hs dequte mechnism of whistle blowing policy in the orgnistion nd ffirms tht no personnel hve been denied ccess to the Audit Committee. No items of expenditure debited in the books of ccounts, which re not for the purpose of the business. No expenditure incurred which re personl in nture nd incurred for the Bord of Directors nd top Mngement. Detils of Administrtive nd Office expenses s percentge of totl expenses vis - vis finncil expenses nd resons for increse re s under : 69

72 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm dqy O;; dqy forrh; dqy O;; dqy forrh; fvii.kh dk % O;; dk % dk % O;; dk % ¼vkrfjd½ ¼vkrfjd½ % of Totl % of Totl % of % of Totl Remrks Exp. Finnce Totl Exp. Finnce Exp.(Int.) Exp.(Int.) iz'kklfud Administrtive dk;kzy; O;; Office Exp. 2- ys[kk&ijh{kk lfefr% I. xbu vksj l?kvu orzeku es ys[kk&ijh{kk lfefr es pkj lnl; vfkkzr~ Jh,u-ds- lkgk] funs'kd ¼mRiknu½ rfkk v/;{k,o izc/k funs'kd ¼vfrfjDr izhkkj½] Jh fot; jtu flg] funs'kd ¼moZjd½] mozjd fohkkx] Jh jktho dqekj] mi lfpo ¼,,.Moh½] mozjd fohkkx] Jh fprk os dv Ñ".kk] is'ksoj pkvzmz,dkmvs V ¼v/;{k½ 'kkfey gsa leh{kk/khu o"kz ds nksjku ys[kk&ijh{kk lfefr us csbdks es fueufyf[kr dk;ks dh leh{kk dh gs% i) dpph lkefxz;kww] e/;orhz] rs;kj mrikn rfkk isfdx lkefxz;ks dk frekgh lr;kiu( ii) frekgh vkrfjd ys[kk&ijh{kk ¼rduhdh½ fjiksvz( iii) leh{kk vkrfjd ys[kk&ijh{kk fjiksvz( iv) cksmz }kjk vuqeksnu ls iwoz diuh dh okf"kzd ys[kk&ijh{kk dh leh{kk( v) lkfof/kd ys[kk&ijh{kkvks dh ys[kk&ijh{kk fviif.k;ks dh leh{kk rfkk ml ij izc/ku dk mrrj( 2. AUDIT COMMITTEE: I. Constitution nd Composition At present, Audit Committee comprises four members i.e. Shri N.K. Sh, Director (Production) & Chirmn nd Mnging Director (Additionl Chrge), Shri Vijy Rnjn Singh, Director (Fertilizer), DOF, Shri Rjiv Kumr, Deputy Secretry (A &V), DOF, Shri Chint Venkt Krishn, Prcticing Chrtered Accountnts (Chirmn). During the yer under review, Audit Committee hs reviewed the followings business in the meetings : i) Qurterly verifiction of Rw Mterils, Intermedite, finished product nd pcking mterils; ii) Qurterly Internl Audit (Technicl) Report; iii) Review Internl Audit Report; iv) Review of Annul Accounts of the Compny before pprovl by the Bord; v) Review of Audit observtions of Sttutory Auditors nd mngement replies thereon; 70

73 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm vi) lh,.m,th dh leh{kk fviif.k;k( vi) Review comments of C & AG; vii) lkfof/kd ys[kk&ijh{kdks dk leh{kk ikfjjfed( vii) Review remunertion of Sttutory Auditors; viii) ykxr ys[kk&ijh{kdks dh fu;qfdr dh leh{kk( viii) Review of ppointment of Cost Auditors; ix) ys[kk&ijh{kk lfefr dh finyh csbdks ds fu.kz;ks ij dh xbz dkjzokbz fjiksvz dh leh{kk( ix) Review of ction tken reports on the decisions of erlier Audit Committee meetings. dkiks Zjs'ku ds funs'kd e.my us dks vk;ksftr viuh 12oh okf"kzd csbd es ys[kk&ijh{kk lfefr dk xbu fd;k gsa ys[kk&ijh{kk lfefr ds fopkjkfkz fo"k;ks dks xbu ds le; cksmz }kjk vuqeksfnr fd;k x;k gs rfkk mls yksd m e fohkkx ¼MhihbZ½ }kjk tkjh fuxfer 'kklu ds fn'kk&funs Z'kks ds vuq:i dks vk;ksftr funs'kd e.my dh 57oh csbd es l'kksf/kr fd;k x;k FkkA Bord of Directors of the Corportion hs constituted Audit Committee in their 12th meeting held on The terms of reference of the Audit Committee hs been pproved by the Bord t the time of constitution nd modified in 57th meeting of Bord of Directors held on in line with the guidelines of corporte governnce issued by the Deprtment of Public Enterprises (DPE). II. choh,qlh,y dh ys[kk&ijh{kk lfefr gsrq fopkjkfkz fo"k; ys[kk&ijh{kk lfefr ds fopkjkfkz fo"k; fueu izdkj gs% 1- diuh dh forrh; fjiks ZfVx izfø;k dk fujh{k.k djuk] bldh forrh; lwpukvks dk [kqyklk djuk rkfd ;g lqfuf'pr fd;k tk lds fd forrh; fooj.k lgh] i;kzir vksj fo'oluh; gsa 2- cksmz dks ys[kk&ijh{kk 'kqyd ds fu/kkzj.k dh flqkfj'k djuka 3- lkfof/kd ys[kk&ijh{kdks }kjk iznrr vu; fdlh lsok ds fy, lkfof/kd ys[kk&ijh{kdks dks Hkqxrku dk vuqeksnu djuka 4- cksmz ds vuqeksnu ds fy, izlrqr djus ls igys okf"kzd forrh; fooj.k dh izc/ku ds lkfk fueufyf[kr ds fo'ks"k lnhkz es leh{kk dh tkrh gs% d- funs'kd ds mrrjnkf;ro fooj.k es 'kkfey fd, tkus okys ekeyks dks diuh vf/kfu;e] 1957 dh /kkjk 217 ds [k.m 2¼dd½ ds vuqlkj cksmz dh fjiksvz es 'kkfey fd;k tk,xk( II. TERMS OF REFERENCE FOR AUDIT COMMITTEE OF BVFCL The following re terms of reference of Audit Committee : 1. Oversight of the compny's finncil reporting process nd the disclosure of its finncil informtion to ensure tht the finncil sttement is correct, sufficient nd credible. 2. Recommending to the Bord the fixtion of udit fees. 3. Approvl of pyment to sttutory uditors for ny other services rendered by the sttutory uditors. 4. Reviewing, with the mngement, the nnul finncil sttements before submission to the Bord for pprovl, with prticulr reference to:. Mtters required to be included in the Directors Responsibility Sttement to be included in the Bord's report in terms of cluse (2AA) of section 217 of the Compnies Act, 1957; 71

74 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm [k- ys[kkdu uhfr;ks vksj izfø;kvks es ifjorzu] ;fn dksbz gks] rfkk mlds dkj.k( x- izc/ku }kjk fu.kz; ds iz;ksx ds vk/kkj ij 'kkfey vuqeku dh eq[; ys[kkdu izkfof"v;k( b. Chnges, if ny, in ccounting policies nd prctices nd resons for the sme; c. Mjor ccounting entries involving estimtes bsed on the exercise of judgment by mngement;?k- ys[kk&ijh{kk fu"d"kks ls mriuu forrh; fooj.kks es fd, x, egroiw.kz lek;kstu( d. Significnt djustments mde in the finncil sttements rising out of udit findings; M-- forrh; fooj.kks ds lc/k es dkuwuh vko';drkvks lfgr vuqikyu( p- fdlh lcf/kr ikvhz ysunsu dk mn~?kkvu( vksj N- ys[kk&ijh{kk fjiksvz ds izk:i es vgzdrk( t- diuh ds Hkfo"; es cus jgus dk vuqeku( >- ys[kkdu ekud ds lkfk vuqikyu( - diuh dh foùkh; vksj tksf[ke izcèku uhfr;ks dh leh{kk djuka V- vkbz-lh-,-vkbz- dk ys[kkdu ekud ds lkfk vuqikyua 5- cksmz dks vuqeksnu gsrq izlrqr djus ls igys izc/ku dh frekgh forrh; fooj.kks ds lkfk leh{kk dh tkrh gsa 6- izc/ku lfgr lkfof/kd vksj vkrfjd ys[kk&ijh{kdks vksj vkrfjd fu;=.k iz.kkfy;ks dh i;kzirrk dh leh{kka 7- vkrfjd ys[kk&ijh{kk dh dk;ziz.kkyh dh i;kzirrk lfgr vkrfjd ys[kk&ijh{kk fohkkx ds xbu] LVkfQx vksj fohkkxk/;{kks dh ojh;rk] fjiks ZfVx LVªDpj dojst vksj vkrfjd ys[kk&ijh{kk dh ckjckjrk dh leh{kk djuka 8- vkrfjd ys[kk&ijh{kdks vksj@;k ys[kk&ijh{kdks ds lkfk fdlh egroiw.kz fu"d"kz ij ppkz djuk vksj mldk ikyu djuka e. Complince with legl requirements relting to finncil sttements; f. Disclosure of ny relted prty trnsctions; nd g. Qulifictions in the drft udit report. h. The going concern ssumption. i. Complince with Accounting Stndrd. j. Reviewing the compny's finncil nd risk mngement policies. k. Complince of Accounting Stndrd of ICAI. 5. Reviewing, with the mngement, the qurterly finncil sttements before submission to the Bord for pprovl. 6. Reviewing, with the mngement, performnce of internl uditors nd dequcy of the internl control systems. 7. Reviewing the dequcy of internl udit function, including the structure of the internl udit deprtment, stffing nd seniority of the officil heding the deprtment, reporting structure, coverge nd frequency of internl udit. 8. Discussion with internl uditors nd/or uditors ny significnt findings nd follow up there on. 72

75 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 9-,sls ekeyks ] tgk lfnx/k gsjkqsjh ;k vfu;ferrk ;k egroiw.kz izd`fr ds vkrfjd fu;=.k iz.kkyh dh vlqyrk gks] ogk vkrfjd ys[kk&ijh{kdks@ fl;ks }kjk vkrfjd ys[kk&ijh{kk ds fu"d"kks dh leh{kk dj ekeys dks cksmz dks lwfpr fd;k tkrk gsa 10- ys[kk&ijh{kk izkjhk djus ls igys lkfof/kd ys[kk&ijh{kdks ds lkfk ys[kk&ijh{kk dh izd`fr vksj lhkkouk ij ppkz rfkk fdlh lel;k okys {ks= dk irk yxkus ds fy, ys[kk&ijh{kk mijkr ppkza 11- tekdrkzvks ] fmcs pj/kkjdks ] 'ks;j/kkjdks ¼?kksf"kr ykhkk'k ds xsj&hkqxrku ds ekeys es ½ rfkk _.knkrkvks dks Hkqxrku es gqbz Ik;kZIr pwd ds dkj.kk s ij fopkj djuka 12- Hkz"Vkpkj dks mtkxj djus dh iz.kkyh ds dk;ks dh leh{kk djuka 13- lh,.mth ys[kk&ijh{kk dh ys[kk&ijh{kk fviif.k;ks ij vuqorhz dkjzokbz dh leh{kk djuka 14- lkoztfud {ks= ds miøeks dh llnh; lfefr ¼lhvksih;w½ dh flqkfj'kks ij vuqorhz dkjzokbz djus ds fy, leh{kk djuka 15- Lor= ys[kk&ijh{kd] vkrfjd ys[kk&ijh{kd rfkk funs'kd e.my ds chp lpkj ds [kqys volj miycèk djkuka 16- diuh es lhkh lcf/kr ikvhz ysunsu dh leh{kk djuka bl iz;kstu ds fy, ys[kk&ijh{kk lfefr fdlh lnl; dks ukfer dj ldrh gs tks lcf/kr ikvhz ysunsu dh leh{kk djus ds fy, fteesnkj gksxka fdlh fof'k"v o"kz es fd, x, lhkh lcf/kr ikvhz ysunsu ds ckjs es fu/kkzfjr izi= es,d fooj.k dks fofhkuu 'ks;j/kkjdks ds [kqykls ds fy, ml o"kz dh cksmz dh fjiksvz es 'kkfey fd;k tkuk pkfg,a Li"Vhdj.k% ^^lcf/kr ikvhz ysunsu^^ 'kcn dk ogh vfkz gksxk tslk fd blvhv~;wv vkwq pkvzmz,dkmvs V vkwq bfm;k }kjk tkjh ys[kkdu ekud 18 es fufgr vuqlkj 9. Reviewing the findings of ny internl investigtions by the internl uditors/uditors/ gencies into mtters where there is suspected frud or irregulrity or filure of internl control systems of mteril nture nd reporting the mtter to the Bord. 10. Discussion with sttutory uditors before the udit commences, bout the nture nd scope of udit s well s post-udit discussion to scertin ny re of concern. 11. To look into the resons for substntil defults in the pyment to the depositors, debenture holders, shreholders (in cse of non pyment of declred dividends) nd creditors. 12. To review the functioning of the Whistle Blower Mechnism. 13. To review the follow up ction on the udit observtions of the C&AG udit. 14. To review the follow up ction tken on the recommendtions of Committee on Public Undertkings (COPU) of the Prliment. 15. Provide n open venue of communiction between the independent uditor, internl uditor nd the Bord of Directors. 16. Review ll relted prty trnsctions in the compny. For this purpose, the Audit Committee my designte member who shll be responsible for reviewing relted prty trnsctions. A sttement in the prescribed formt giving detils bout ll relted prty trnsctions tken plce in prticulr yer should be included in the Bord's report for tht yer for disclosure to vrious stkeholders. Explntion: The term "relted prty trnsctions" shll hve the sme mening s contined in the Accounting Stndrd 18, 73

76 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm leku vfkz gksxka 17- dojst dks iwjk djus] vuko';d iz;klks es deh ykus] vksj lhkh ys[kk&ijh{kdks ds llk/kuks ds izhkkoh blrseky lqfuf'pr djus ds fy, ys[kk&ijh{kd iz;klks dk leuo djus gsrq Lor= ys[kk&ijh{kd dh leh{kk djuka 18- Lor= ys[kk&ijh{kd rfkk izc/ku ds lkfk fueufyf[kr dh leh{kk djus ij fopkj djuk% di;wvjhd`r lwpuk iz.kkyh fu;=.k vksj lqj{kk lfgr vkrfjd fu;=.k dh Ik;kZIrrk] vksj izc/ku izfrfø;k lfgr vkrfjd ys[kk&ijh{kd vksj Lor= ys[kk&ijh{kd lfgr fueufyf[kr ij fopkj djuk vksj leh{kk djuk( 19- Lor= ys[kk&ijh{kd rfkk izc/ku ds lkfk fueufyf[kr dh leh{kk djus ij fopkj djuk% finyh ys[kk&ijh{kk flqkfj'kks dh flfkfr lfgr o"kz ds nksjku Ik;kZIr fu"d"kks dk irk yxkuka dk;zdykiks ds nk;js ij dksbz izfrc/k yxkus ;k visf{kr lwpuk rd ig qp cukus ds nksjku lkeus vkbz dksbz dfbukb;ka Li"Vhdj.k% ;fn diuh us diuh vf/kfu;e ds izkoèkku ds vuqlj.k es dksbz ys[kk&ijh{kk lfefr dk xbu fd;k gs rks mdr ys[kk&ijh{kk lfefr dks bu funs Z'kks es fufgr vuqlkj,sls vfrfjdr gks xha 20- ys[kk&ijh{kk lfefr ds fopkjkfkz fo"k; es mfyyf[kr vuqlkj vu; dksbz dk;z djuka 21- diuh dh forrh; vksj tksf[ke izc/ku uhfr dh leh{kk djuka III. ys[kk&ijh{kk lfefr dh 'kfdr;k viuh Hkwfedk ds vuqlkj funs'kd e.my }kjk issued by the Institute of Chrtered Accountnts of Indi. 17. Review with the independent uditor the coordintion of udit efforts to ssure completeness of coverge, reduction of redundnt efforts, nd the effective use of ll udit resources. 18. Consider nd review the following with the independent uditor nd the mngement: The dequcy of internl controls including computerized informtion system controls nd security, nd Relted findings nd recommendtions of the independent uditor nd internl uditor, together with the mngement responses. 19. Consider nd review the following with the mngement, internl uditor nd the independent uditor: Significnt findings during the yer, including the sttus of previous udit recommendtions. Any difficulties encountered during udit work including ny restrictions on the scope of ctivities or ccess to required informtion. Explntion: If the compny hs set up n Audit Committee pursunt to provision of the Compnies Act, the sid Audit Committee shll hve such dditionl functions/fetures s contined in these guidelines. 20. Crrying out ny other function s is mentioned in the terms of reference of the Audit Committee. 21. Reviewing the compny's finncil nd risk mngement policies. III. Powers of Audit Committee Commensurte with its role, the Audit 74

77 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm vfèkdkj izkir ys[kk&ijh{kk lfefr ds fueufyf[kr vf/kdkj izkir gks xs% Committee empowered by the Bord of Directors the following: (i) vius fopkjkfkz fo"k; es fdlh dk;zdyki dh tkp djuka (i) To investigte ny ctivity within its terms of reference. (ii) fdlh dezpkjh ls lwpuk izkir djuk rfkk diuh ds vfhkys[kks es fufgr lwpuk dk tk;t+k ysuka (ii) To seek informtion on nd from ny employee nd ssess to informtion contined in the records of the Compny. (iii) funs'kd e.my ds vuqeksnu ds v/khu ckgjh dkuwuh ;k vu; O;kolkf;d lykg izkir djuka (iii) To obtin outside legl or other professionl dvice, subject to the pprovl of the Bord of Directors. (iv) (v) (vi) IV. ckgjh O;fDr;ks ls lxr fo'ks"kkrk izkir djuk] ;fn,slk djuk vko';d le>k tk,a finys dk;kzy; dk Lor= lefkzu rfkk diuh ls vu; lzksra Hkz"Vkpkj mtkxj djus okyks dks lqj{kk nsuka ys[kk&ijh{kk lfefr dh csbdks dh miflfkfr leh{kk/khu o"kz ds nksjku ys[kk&ijh{kk lfefr dh lkr csbd s vk;ksftr dh xbz FkhA Ø- funs'kdks ds uke ys[kk&ijh{kk l- lfefr dh csbdks es Hkkx ysus okyks dh l[;k 1- Jh,u-ds- lkgk 7 2- Jh euh"k f=ikbh 5 ¼ rd½ 3- Jherh yfyrk nkl 5 ¼ rd½ 4- Jh uhjt fl?ky 2 ¼ ls ¼i;Zos{kd ds :i rd½ es,d csbd½ 5- Jh fot; jtu flg 1 ¼ ls½ ¼i;Zos{kd ds :i es,d csbd½ (iv) (v) (vi) To secure ttendnce of outsiders with relevnt expertise, if it considers necessry. To hve independent bck office support nd other resources from the compny. To protect whistle blowers. IV. ATTENDANCE OF AUDIT COMMITTEE MEETINGS During the yer under review, seven Audit Committee Meetings were held. S. Nme of the Directors No. of Audit No. Committee Meeting ttended 1. Shri N.K. Sh 7 2. Shri Mnish Tripthi 5 (Upto ) 3. Smt. Llith Ds 5 (Upto ) 4. Shri Neerj Singhl 2 (From to (one meeting ) s observer) 5. Shri Vijy Rnjn Singh 1 (From ) (one meeting s observer) 75

78 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 6- Jh jktho dqekj 1 ¼ ls½ ¼i;Zos{kd ds :i es,d csbd½ 7- Jh fprk os dv Ñ".kk 2 ¼ ½ V. d d iuh dk diuh lfpo ys[kk&ijh{kk lfefr ds lfpo ds :i es dk;z djrk gsa 3- funs'kdks dk ikfjjfed Pkw fd choh,qlh,y diuh vf/kfu;e ds vrxzr iw.kzr;k LokfeRo okyh,d ljdkjh diuh gs] diuh ds dk;kzred funs'kdks dks jlk;u vksj mozjd e=ky; ds ek/;e ls jk"vªifr }kjk fu;qdr@ukfer fd;k tkrk gsa bl izdkj fu;qdr dk;kzred funs'kd osruekuks ds vks ksfxd egxkbz HkRrs ¼vkbZMh,½ isvuz ds vrxzr rfkk Hkkjr ljdkj }kjk le; ij tkjh fuc/ku,o 'krks ds vuqlkj ikfjjfed izkir djrs gsa diuh ds cksmz es v'kdkfyd ljdkjh ¼ljdkjh ukfefr½ funs'kdks dks dksbz ikfjjfed ugh fn;k tkrka os ljdkjh dezpkfj;ks ds :i es mozjd fohkkx ls fu;fer ikfjjfed gh izkir djrs gsa os ljdkjh vf/kdkfj;ks ds :i es mozjd fohkkx ls dsoy fu;fer ikfjjfed ysrs gsa diuh ds funs'kd e.my ds v'kdkfyd xsj&ljdkjh ¼Lor=½ funs'kd cksmz vksj@;k mudh lfefr dh izr;sd csbd ds fy, 5000@& #i, dk flfvx 'kqyd dk Hkqxrku ikus ds ik= gksrs gs vksj mugs oklrfod ;k=k O;;] vkokl] Hkkstu lqfo/kk rfkk diuh ds O;olk; ls lcf/kr vu; [kpz dh izfriwfrz dh tkrh gsa rfkkfi] dkjiksjsv dk;z e=ky; ¼,elh,½ vksj yksd m e fohkkx ¼MhihbZ½ }kjk tkjh fn'kk&funs Z'kks ds vrxzr dkiks Zjs'ku es funs'kdks dh ikfjjfed lfefr dk xbu fd;k gs ftles Jh,u-ds- lkgk] funs'kd ¼mRiknu½ vksj v/;{k,o izc/k funs'kd ¼vfrfjDr izhkkj½] Jh fot; jtu flg] funs'kd ¼moZjd½] 6. Shri Rjiv Kumr 1 (From ) (one meeting s observer) 7. Shri Chint Venkt 2 Krishn ( ) V. Compny Secretry of the Compny cts s the Secretry to the Audit Committee. 3. Remunertion of Directors As BVFCL is wholly owned Government Compny under Compnies Act, the Functionl Directors of the Compny re ppointed/ nominted by President of Indi through Ministry of Chemicls nd Fertilizers. The Functionl Directors so ppointed, drw remunertion under Industril Derness Allownce (IDA) pttern of py scles nd s per the terms nd conditions issued by Government of Indi from time to time. The prt-time officil (Government nominee) Directors on the Bord of the Compny do not drw ny remunertion from the Compny. They only drw regulr remunertion from the Deprtment of Fertilizers s Government officils. The prt-time nonofficil (Independent) Directors on the Bord of the Compny entitled for the pyment of sitting fee of Rs. 5000/- for ech meeting of the Bord nd / or Committee thereof nd reimbursement of ctul trvelling, bording lodging nd other expnses incurred in connection with the business of the compny. However, in complince with the conditions of guidelines issued by the Ministry of Corporte Affirs (MCA) nd Deprtment of Public enterprises (DPE), Corportion hs constituted remunertion committee of directors comprising Shri N.K. Sh, Director (Production) nd 76

79 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm mozjd fohkkx] Jh jktho dqekj] mi lfpo ¼,,.Moh½] mozjd fohkkx vksj Jh fprk os dv Ñ".k] is'ksoj pkvzmz,dkmvs V] dkjiksjs'ku ds Lor= funs'kd 'kkfey gs tks okf"kzd cksul] dk;zikyd vksj xsj&l?kh; i;zos{kdks es vius forj.k ds fy, ifjorzuh; osru iwy vksj uhfr ij fu.kz; ysrs gsa mi;q ZDr lfefr ds xbu ds ckn dkiks Zjs'ku us ;gk Åij n'kkz, x, vuqlkj fdlh ikfjjfed ij fopkj ugh fd;k gsa 4- izfr/kkjdks dh fu;qfdr gsrq lfefr funs'kd e.my us dkiks Zjs'ku es u, izfr/kkjdks dh fu;qfdr ds fy, lfefr dk xbu fd;k gsa lfefr es Jh,u-ds- lkgk] funs'kd ¼mRiknu½ vksj v/;{k,o izc/k funs'kd ¼vfrfjDr izhkkj½] Jh fot; jtu flg] funs'kd] Jh,l-ds- flg] egkizc/kd ¼izpkyu½] Jh,l-,-ch-,e- lqyrku] egkizc/kd ¼rduhdh vksj,p vkj½ vksj Jh,l-Mh- flg] Mhth,e ¼,e-,e-½ 'kkfey gsa izfr/kkjdks dh iqu% fu;qfdr ds izlrkoks ij lfefr dh flqkfj'k ij fu.kz; fy;k tk jgk gs ftles Jh,uds- lkgk] funs'kd ¼mRiknu½ vksj v/;{k,o izc/k funs'kd ¼vfrfjDr izhkkj½] Jh,l-ds- flg] egkizcèkd ¼izpkyu½] Jh,l-,-ch-,e- lqyrku] egkizc/kd ¼rduhdh vksj,p vkj½ vksj Jh,l-Mh- flg] Mhth,e ¼,e-,e-½ rfkk Jh,u-ds- lkgk] funs'kd ¼mRiknu½ vksj v/;{k,o izc/k funs'kd ¼vfrfjDr izhkkj½ ls vuqeksnu 'kkfey gsa leh{kk/khu o"kz ds nksjku mi;q ZDr lfefr;ks us 31 izfrèkkjdks ¼vf/kdkjh&26 vksj dkexkj 05½ dh fu;qfdr ds fy, vuqeksnu fn;k FkkA Chirmn & Mnging Director (Additionl chrge), Shri Vijy Rnjn Singh, Director (Fertilizer) DOF, Shri Rjiv Kumr, Deputy Secretry (A&V), DOF nd Shri Chint Venkt Krishn, Prcticing Chrtered Accountnts, Independent Director of the Corportion to decide the Annul Bonus, Vrible py pool nd policy for its distribution cross the executive nd non-unionized supervisors. After the constitution of bove committee, corportion hs not considered ny remunertion s stted hereinbove. 4. COMMITTEE FOR ENGAGEMENT OF RETAINERS Bord of Directors hs constituted Committee for the enggement of fresh retiners in the Corportion. The Committee comprising members Shri N.K. Sh, Director (Production) & Chirmn nd Mnging Director (Additionl Chrge), Shri Vijy Rnjn Singh, Director, Shri S.K. Singh, GM (Opertion), Shri SABM Sultn, GM (Tech & HR) nd Shri S.D. Singh, DGM (MM). The proposls of re-enggement of retiners re being decided on the recommendtion of the Committee comprising members Shri N.K. Sh, Director (Production) & Chirmn nd Mnging Director (Additionl Chrge), Shri S.K. Singh, GM (Opertion), Shri SABM Sultn, GM (Tech & HR) nd Shri S.D. Singh, DGM (MM) long with the pprovl of Shri N.K. Sh, Director (Production) & Chirmn nd Mnging Director (Additionl Chrge)." During the yer under review, bove committees hd pproved the enggement / re-enggement of 31 nos. retiners (Officers-26 nd workmen 05). 77

80 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 5- lfpoky; ys[kk&ijh{kk fjiksvz dkjiksjsv dk;z e=ky; ¼,elh,½ }kjk tkjh LoSfPNd dkjiksjsv 'kklu fn'kk&funs Z'kks dh 'krz V ds vuqikyu ds lc/k es dk;zjr diuh lfpo ls lfpoky; ys[kk&ijh{kk fjiksvz izkir dh xbz gs rfkk fjiksvz es nh xbz fvii.kh ij izc/ku ds mrrj funs'kd dh fjiksvz dks vuqyxud-ii ¼[k½¼x½ es lyxu gsa 6- vuqikyu izek.k&i= Ykksd m e fohkkx ¼MhihbZ½ }kjk tkjh fn'kk&funs Z'kks ds vuqlkj dkiks ZjsV 'kklu dh 'krks ds vuqikyu ds lc/k es dk;zjr diuh lfpo ls izkir izek.k&i= funs'kd dh fjiksvz ds vuqyxud-ii ¼?k½ es lyxu gsa 5. SECRETARIAL AUDIT REPORT Secretril Audit Report hs been obtined from Prcticing Compny Secretry regrding complince of the conditions V of Voluntry Corporte Governnce guidelines issued by the Ministry of Corporte Affirs (MCA) nd the mngement replies to the observtion mde in the report is enclosed t Anneuxre-II (B) (C) to the Directors' Report. 6. COMPLIANCE CERTIFICATE Certificte obtined from Prcticing Compny Secretry regrding complince of the conditions of Corporte Governnce in ccordnce with the guidelines issued by Deprtment of Public Enterprises (DPE) is enclosed t Anneuxre-II(D) to the Directors' Report. 78

81 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kd dh fjiksvz dk vuqyxud-ii¼d½ vkpkj&lfgrk ds vuqikyu dh?kks"k.kk yksd m e fohkkx }kjk tkjh ds nzh; lkoztfud {ks= ds midzeks ds fy, dkwiks ZjsV xous ZUl ds fn'kk&funs Z'kks ds [k.m ds vuqikyu es cksmz us diuh ds funs'kd emy vksj ofj"b izcèku ds lhkh lnl;ks ds fy, vkpkj&lfgrk dk vuqeksnu fd;k gs ftls diuh ds osclkbv ij Mkyk x;k gsa funs'kd emy ds lhkh lnl; vksj ofj"b izc/ku dk;zikyd,rn~}kjk mi;q ZDr vkpkj&lfgrk ds vuqikyu dk lefkzu djrs gsa ANNEXURE-II(A) TO DIRECTORS' REPORT DECLARATION OF COMPLIANCE OF CODE OF CONDUCT In complince with the cluse of guidelines of Corporte Governnce for CPSUs issued by the Deprtment of Public Enterprises, Bord hs pproved the Code of Conduct Rules for ll members of Bord of Directors nd Senior Mngement of the compny, which hs been posted on compny's website All the members of Bord of Directors nd the Senior Mngement Executives do hereby ffirms the complince with the bove Code of Conduct Rules. czãiq= osyh QfVZykbtj dkwikszjs'ku fyfevsm ds funs'kd e.my ds fy, vksj mldh vksj ls For nd on behlf of Bord of Directors of Brhmputr Vlley Fertilizer Corportion Ltd. fnukd % LFkku % ubz fnyyh glrk0@& ¼,u-ds- lkgk½ funs'kd ¼mRiknu½ vksj v/;{k,o izc/k funs'kd Sd/- N.K. Sh Director (Production) & Chirmn nd Mnging Director Dte : Plce : New Delhi 79

82 Z w czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kdks dh fjiksvz dk vuqyxud-ii ¼[k½ 31 ekpz 2012 dks lekir forrh; o"kz ds fy, lfpoky; dh ys[kk&ijh{kk fjiksvz lsok es] lnl;] czg~eiq= osyh QfVZykbtj dkwikszjs'ku fyfevsm] uke:i] iks-vk- iozriqj & ftyk fmczwx<+ ¼vle½ esus fo eku lkfof/kd izko/kkuks ds vuqikyu dh lfpoky; ys[kk&ijh{kk dh gs vksj diuh }kjk mrd`"v dkiks ZjsV i)fr dk vuqikyu fd;k gsa lfpoky; ys[kk&ijh{kk bl rjg ls dh xbz Fkh fd blus eq>s dkiks ZjsV vkpj.k@lkfof/kd vuqikyu ewy;kdu djus vksj ml ij esjk er O;Dr djus dk mfpr vk/kkj fn;ka czg~eiq= osyh QfVZykbtj dkiks Zjs'ku fyfevsm es diuh }kjk j[ks x, cgh&[kkrs] dkxtkr] y?kq cgh&[kkrs] izi= vksj nk;j foojf.k;k rfkk rfkk fjdkmz ds esjs lr;kiu rfkk diuh( blds vf/kdkfj;ks ],ts Vks vksj vfèkñr izfrfuf/k;ks }kjk lfpoky; dh ys[kk&ijh{kk djus ds nksjku nh xbz lwpuk ds vk/kkj ij] es r,n~}kjk ;g fjiksvz nsrk gw fd esjs fopkj es diuh us 31 ekpz] 2012 dks lekir forrh; o"kz es 'kkfey ys[kk&ijh{kk vof/k ds nksjku ble s 'kkfey lkfof/kd izko/kkuks dh lwph dk lesdu fd;k gs rfkk ;g fd diuh mfpr cksmz izfø;k vksj vuqikyu iz.kkyh gs tks ;gk vkxs dh xbz fjiksvz ds v/khu gsa esus diuh vf/kfu;e] 1956 ds izko/kkuks rfkk mlds vrxzr cuk, x, fu;eks ds izko/kkuks ds vuqlkj 31 ekpz] 2012 dks lekir forrh; o"kz ds fy, czg~eiq= osyh QfVZykbtj dkiks Zjs'ku fyfevsm ¼diuh½ }kjk j[ks x, cgh [kkrks ] dkxtkrks ] y?kq cgh&[kkrks ] izi=ks vksj nk;j foojf.k;ks rfkk vu; fjdkmks dh tkp dh gsa ANNEXURE-II (B) TO DIRECTORS' REPORT SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2012 To The Members, Brhmputr Vlley Fertilizer Corportion Limited Nmrup, P.O. Prbtpur Dist. Dibrugrh (Assm) I hve conducted, the secretril udit of the complince of pplicble sttutory provisions nd the dherence to good corporte prctices by the compny. Secretril Audit ws conducted in mnner tht provided me resonble bsis for evluting the corporte conducts/sttutory complinces nd expressing my opinion thereon. Bsed on my verifiction of Brhmputr Vlley Fertilizer Corportion Limited's books, ppers, minute books, forms nd returns filed nd other records mintined by the compny nd lso the informtion provided by the Compny, its officers, gents nd uthorized representtives during the conduct of secretril udit, I hereby report tht in my opinion, the compny hs, during the udit period covering the finncil yer ended on 31st Mrch 2012 complied with the sttutory provisions listed hereunder nd lso tht the Compny hs proper Bord-processes nd complince-mechnism in plce to the extent, in the mnner nd subject to the reporting mde hereinfter: I hve exmined the books, ppers, minute books, forms nd returns filed nd other records mintined by Brhmputr Vlley Fertilizer Corportion Limited (the compny) for the finncil yer ended on 31st Mrch 2012 ccording to the provisions of the Compnies Act, 1956 nd Rules mde thereunder. 80

83 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm esus fueufyf[kr ls lcf/kr ykxw [k.mks ds lkfk vuqikyu dh Hkh tkp dh gs% I hve lso exmined complince with the pplicble cluses of the following: (i) n blvhv~;wv vkwq diuh lsøsvsfj,v~l vkwq bfm;k }kjk tkjh lfpoky; ekuda (i) Secretril Stndrds issued by The Institute of Compny Secretries of Indi. (ii) dkiks ZjsV dk;z e=ky;] Hkkjr ljdkj }kjk tkjh dkiks ZjsV 'kklu LoSfPNd fn'kk&funs Z'k] 2009( (ii) Corporte Governnce Voluntry Guidelines, 2009 issued by the Ministry of Corporte Affirs, Government of Indi; (iii) dkiks ZjsV dk;z e=ky;] Hkkjr ljdkj }kjk tkjh dkjiksjsv lkekftd mrrjnkf;ro LoSfPNd fn'kk&funs Z'k] 2009( (iii) Corporte Socil Responsibility Voluntry Guidelines, 2009 issued by the Ministry of Corporte Affirs, Government of Indi; (iv) Hkkjh m ksx vksj lkoztfud m e e=ky; }kjk tkjh dsunzh; lkoztfud {ks= m e] 2010 ds fy, dkjiksjsv 'kklua (iv) Corporte Governnce for Centrl Public Sector Enterprises, 2010 issued by Ministry of Hevy Industries nd Public Enterprises, Government of Indi; (v) Hkkjh m ksx vksj lkoztfud m e e=ky;] Hkkjr ljdkj }kjk tkjh dsunzh; lkoztfud {ks= m e] 2010 ds fy, dkjiksjsv lkekftd mrrjnkf;roa (v) Corporte Socil Responsibility for Centrl Public Sector Enterprises, 2010 issued by Ministry of Hevy Industries nd Public Enterprises, Government of Indi. Ckgh&[kkrks ] dkxtkrks ] y?kq cgh [kkrks ] Qkeks vksj nk;j foojf.k;ks rfkk vu; fjdkmks dh tkp vksj lr;kiu ds vkèkkj ij rfkk diuh }kjk eq>s nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj es ;g fjiksvz djrk gw W fd esjs fopkj es diuh vf/kfu;e] 1956 ¼vf/kfu;e½ rfkk mlds vrxzr cuk, x, fu;eks ] diuh ds Kkiu vksj cfgfuz;ekoyh rfkk mi;q ZDr dkuwuks ] ekudks ] fn'kk&funs Z'kks ] djkj vkfn ds izkoèkkuks dk vuqikyu fd;k gsa es fjiksvz djrk gww fd leh{kk/khu o"kz ds nksjku% 1- forrh; o"kz ds nksjku diuh dh flfkfr vlwphc) lkoztfud {ks= dh diuh dh jgh gs rfkk lhkh 'ks;j Hkkjr ds jk"vªifr rfkk mozjd fohkkx] Hkkjr ljdkj ds vf/kdkfj;ks ds uke ij gsa 2- diuh fdlh vu; diuh dh /kkfjrk ;k lgk;d diuh Bsed on my exmintion nd verifiction of the books, ppers, minute books, forms nd returns filed nd other records produced to me nd ccording to informtion nd explntions given to me by the Compny, I report tht the Compny hs in my opinion, complied with the provisions of the Compnies Act, 1956 (Act) nd the Rules mde thereunder, the Memorndum nd Articles of Assocition of the Compny nd lso pplicble provisions of the foresid lws, stndrds, guidelines, greements, etc. I report tht, during the yer under review: 1. The sttus of the Compny during the finncil yer hs been tht of n Unlisted Public Sector Compny nd ll the Shres re held in the nme of President of Indi nd Officils of Deprtment of Fertilizers, Government of Indi. 2. The Compny hs not been holding or 81

84 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ugh jgh gsa diuh ljdkjh diuh jgh gsa 3- diuh ds funs'kd e.my dk fof/kor xbu fd;k tkrk gs ysfdu dk;zdkjh funs'kdks ] xsj&dk;zdkjh funs'kdks vksj Lor= funs'kdks dh mfpr lrqyu ugh gsa funs'kd e.my ds l?kvu es leh{kk/khu vofèk ds nksjku fd;k x;k ifjorzu diuh vf/kfu;e] 1956 ds izko/kkuks ds vuqikyu es fd;k x;k FkkA lhkh funs'kdks dks Ik;kZIr uksfvl fn;k tkrk gs rkfd cksmz csbdks dh vuqlwph] dk;zlwph vksj dk;zlwph ij folr`r fviif.k;k de ls de lkr fnuks es vfxze es Hksth tkrh gsa ;g,d,slh iz.kkyh gs ftles csbd ls iwoz dk;zlwph enks ij vksj lwpuk vksj Li"Vhdj.k izkir djus dh vis{kk dh tkrh gsa dh xbz dkjzokbz dh fjiksvz ¼,Vhvkj½ dks cksmz ds le{k mudh leh{kk gsrq fu;fer :i ls izlrqr fd;k tk jgk gsa cgql[;d fu.kz; dks ykxw fd;k tkrk gs tcfd erhksn j[kus okys lnl;ks ds fopkjks dks fy[kk tkrk gs rfkk dk;zo`rr ds Hkkx ds :i es ntz fd;k tkrk gsa 4- diuh us diuh ds funs'kd ls lcf/kr ifjorzu djus es lcf/kr vf/kfu;e ds vrxzr cuk, x, vf/kfu;e vksj fu;eks ds izko/kkuk s dk ldyu fd;k gs vksj Hkkjr ljdkj ds fn'kk&funs Z'kks ds funs'kks ds vuqlkj izcèkdh; ikfjjfed dk Hkqxrku fd;k gsa 5- funs'kdks us viuh fu;qfdr dh ik=rk ds lc/k es mn~?kkvu vko'drkvks rfkk funs'kdks vksj izc/ku dkfezdks ds fy, vkpj.k vksj uhfr'kkl= dh lfgrk dk vuqikyu fd;k gsa 6- funs'kdks us Bsdks vksj O;oLFkkvks ] pj /kkfjr rfkk vu; difu;k s es funs'kd vksj fgrks dk [kqyklk djus dh vko';drkvks dk vuqikyu fd;k gsa subsidiry of nother compny. The compny hs been Government Compny. 3. The Bord of Directors of the Compny is duly constituted but without proper blnce of Executive Directors, Non-Executive Directors nd Independent Directors. The chnges in the composition of the Bord of Directors tht took plce during the period under review were crried out in complince with the provisions of the Compnies Act, Adequte notice is given to ll directors to schedule the Bord Meetings, gend nd detiled notes on gend re sent t lest seven dys in dvnce, system exists for seeking nd obtining further informtion nd clrifictions on the gend items before the meeting nd for meningful prticiption t the meeting. The Action Tken Report (ATR) re being plced before the Bord regulrly for their review. Mjority decision is crried through while the dissenting members' views re cptured nd recorded s prt of the minutes. 4. The Compny hs complied with the provisions of the Act nd Rules mde under tht Act in crrying out the chnges relting to the Directors of the Compny nd Mngeril Remunertion is pid s per Directives of the Guidelines of Government of Indi. 5. The Directors hve complied with the disclosure requirements in respect of their eligibility of ppointment nd complince with the code of Business Conduct & Ethics for Directors nd Mngement Personnel. 6. The Directors hve complied with the requirements s to disclosure of interests nd concerns in contrcts nd rrngements, shreholdings / debenture holdings nd directorships in other compnies nd interests in other entities. 82

85 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 7- diuh us Hkkjr ljdkj }kjk iznrr vlqjf{kr _.k rfkk ml ij C;kt dh vnk;xh es pwd dh gsa 8- diuh us viuh ifjlifrr;ks ij izhkkjks dks iwjk fd;k gs rfkk fo eku dkuwuks dk vuqikyu fd;k gsa 9- fjiksvz dh rkjh[k dks diuh ij ykxw vuqlkj fofhkuu jkt; vksj LFkkuh; dkuwu ds vrxzr lhkh ithdj.k os/k gsa 10- diuh us vius lhkh lkfof/kd cdk;k jkf'k dk Hkqxrku dj fn;k gs vksj,slh fdlh cdk;k jkf'k ds fy, lrks"ktud O;oLFkk dh gsa 11- diuh Åij mfyyf[kr vuqlkj fu;eks ds vykok lkfof/kd fu;eks dh,d lwph miyc/k djkbz gs vksj ;g ik;k x;k gs fd diuh ij ykxw lhkh dkuwuks dks vuqikyu lqfuf'pr djus ds fy, mfpr iz.kkfy;k fo eku gsa 12- diuh,d #X.k diuh gs tslk fd diuh vf/kfu;e] 1956 dh /kkjk2 ¼46dd½ ds vrxzr ifjhkkf"kr fd;k x;k gsa es vkxs ;g Hkh fjiksvz djrk gw fd% ¼d½ diuh us Lor= funs'kdks dh fu;qfdr ds vuqikyu dks NksM+dj dkjiksjsv dk;z e=ky;] Hkkjr ljdkj }kjk tkjh dkjiksjsv 'kklu LoSfPNd fn'kk&funs Z'k] 2009 ds izko/kkuks dk vuqikyu fd;k gsa 7. The Compny hs defulted in the repyment of unsecured lon nd interest thereon grnted by Government of Indi. 8. The Compny hs stisfied chrges on the ssets of the compny nd complied with the pplicble lws. 9. All registrtions under the vrious stte nd locl lws s pplicble to the compny re vlid s on the dte of report. 10. The Compny hs pid ll its sttutory dues nd stisfctory rrngements hve been mde for rrers of ny such dues. 11. The Compny hs provided list of sttutes in ddition to the lws s mentioned bove nd it hs been observed tht there re proper systems in plce to ensure complince of ll lws pplicble to the compny. 12. The Compny is Sick Compny s defined under section 2(46AA) of the Compnies Act, I further report tht: () the Compny hs complied with the provisions of Corporte Governnce Voluntry Guidelines, 2009 issued by the Ministry of Corporte Affirs, Government of Indi except noncomplince of ppointment of Independent Directors. ¼[k½ pw fd diuh,d #X.k diuh gs vr% dkjiksjsv dk;z e=ky;] Hkkjr ljdkj }kjk tkjh dkjiksjsv lkekftd mrrjnkf;ro LoSfPNd fn'kk&funs Z'k] 2009 ds izkoèkku rfkk Hkkjh m ksx rfkk yksd m ksx e=ky;] Hkkjr ljdkj }kjk tkjh lhih,lbz] 2010 ds fy, dkjiksjsv lkekftd mrrjnkf;ro ds izko/kku bl ij ykxw ugh gksrsa (b) s the Compny is Sick Compny the provisions of Corporte Socil Responsibility Voluntry Guidelines, 2009 issued by the Ministry of Corporte Affirs, Government of Indi nd provisions of Corporte Socil Responsibility for CPSEs 2010 issued by Ministry of Hevy Industries nd Public Enterprises, Government of Indi re not pplicble to the Compny; 83

86 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ¼x½ diuh blvhv~;wv vkwq diuh lsøsvsfj,v vkwq bfm;k }kjk tkjh lfpoky; ekudks dk ikyu dj jgh gsa (c) the Compny is following the pplicble Secretril Stndrds issued by The Institute of Compny Secretries of Indi; ¼?k½ diuh us Lor= funs'kdks ] Ik;Zos{kdk s dh fu;qfdr u gksus ds dkj.k funs'kd emy ds l?kvu] ys[kk&ijh{kk lfefr rfkk ikfjjfed lfefr dks NksM+dj Hkkjh m ksx vksj yksd m e e=ky;] Hkkjr ljdkj }kjk tkjh dsunzh; lkoztfud ds m e] 2010 ds fy, dkjiksjsv 'kklu lc/kh fn'kk&funs Z'kks dk vuqikyu fd;k gsa (d) the Compny hs complied with the Guidelines on Corporte Governnce for Centrl Public Sector Enterprises, 2010 issued by Ministry of Hevy Industries nd Public Enterprises, Government of Indi except the composition of Bord of Directors, Audit Committee nd Remunertion Committee due to the non ppointment of Independent Directors. fvii.kh% funs'kd ds izf'k{k.k dh dksbz iz.kkyh fo eku ugh gs ftl ij fn'kk&funs Z'kks ds vuqikyu ij fopkj fd;k tk ldsa es vkxs ;g Hkh fjiksvz djrk gw fd% fo eku dkuwuks ] fu;eks ] fofu;eks vksj fn'kk&funs Z'kks dh fuxjkuh vksj vuqikyu lqfuf'pr djus ds fy, diuh dk vkdkj vksj izpkyu ds vuq:i diuh es Ik;kZIr iz.kkfy;k vksj izfø;k, gsa LFkku % frulqfd;k fnukd % 11 vxlr] 2012 d`rs ts-ih- vxzoky,m,lksfl,v~l diuh lfpo glrk@& ts-ih- vxzoky izksijkbzvj,qlh,l u lhih l Observtion: There is no mechnism of director's trining in existence, which my be looked into for complince of guidelines. I further report tht: There re dequte systems nd processes in the compny commensurte with the size nd opertions of the compny to monitor nd ensure complince with pplicble lws, rules, regultions nd guidelines. For J. P. AGARWAL & ASSOCIATES Compny Secretries Sd/- J. P. AGARWAL Proprietor FCS No CP No Plce : Tinsuki Dte : August 11,

87 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kd dh fjiksvz dk vuqyxud-ii ¼x½ ANNEXURE-II (C) TO DIRECTORS' REPORT 31 ekpz] 2012 dks lekir forrh; o"kz ds fy, lfpoky; ys[kk&ijh{kk fjiksvz dh fviif.k;ks ij izc/ku ds mrrj MANAGEMENT REPLIES ON THE OBSERVATIONS OF SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR 31ST MARCH, 2012 isjk l- Pr No d½ )?k½ fviif.k;k Observtions diuh vf/kfu;e] 1956 dh /kkjk 2 ¼46dd½ es ifjhkkf"kr vuqlkj diuh,d #X.k diuh gsa The compny is Sick compny s defined under section 2 (46AA) of the Compnies Act, diuh us Lor= funs'kdks dh fu;qfdr ds vuqikyu dks NksM+dj dkjiksjsv dk;z e=ky;] Hkkjr ljdkj }kjk tkjh dkjiksjsv 'kklu LoSfPNd fn'kk&funs Z'k] 2009 ds izko/kkuks dk vuqikyu fd;k gsa The compny hs complied with the provisions of Corporte Governnce Voluntry Guidelines, 2009 issued by the Ministry of Corporte Affirs, Govt. of Indi, except non-complince of ppointment of Independent Directors. diuh us Lor= funs'kdks ] Ik;Zos{kdk s dh fu;qfdr u gksus ds dkj.k funs'kd emy ds l?kvu] ys[kk&ijh{kk lfefr rfkk ikfjjfed lfefr dks NksM+dj Hkkjh m ksx vksj yksd m e e=ky;] Hkkjr ljdkj }kjk tkjh dsunzh; lkoztfud ds m e] 2010 ds fy, dkjiksjsv 'kklu lc/kh fn'kk&funs Z'kks dk vuqikyu fd;k gsa mrrj Reply Hkkjr ljdkj ds vuqeksnu gsrq izlrko dh flqkfj'k djus ls igys diuh dks vkffkzd dk;ks lc/kh ef=emy lfefr ds izlrko ij yksd {ks= m e iquxzbu cksmz ¼chvkjih,lbZ½ dks Hkstk x;k FkkA The compny ws referred to the Bord of Restructuring of Public Sector Enterprises (BRPSE) on the proposl of Cpitl Restructuring by Cbinet Committee on Economic Affirs before the proposl is recommended for pprovl of GOI. izc/ku us iz'kklfud e=ky; vfkkzr~ jlk;u vksj mozjd e=ky; ls choh,qlh,y cksmz es de ls de nks xsj&ljdkjh ¼Lor=½ funs'kdks dh fu;qfdr ds fy, lidz fd;k gsa The Mngement hs pproched to the Administrtive Ministry i.e. Ministry of Chemicls nd Fertilizers, Deprtment of Fertilizers, for ppointment of t lest two non-officil (Independent) Directors on the BVFCL Bord. dkiks Zjs'ku us funs'kd emy ds ekstwnk l?kvu ij fopkj djrs gq, ys[kk&ijh{kk lfefr vksj ikfjjfed lfefr dk xbu fd;k gsa 85

88 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm d) The compny hs complied with the guidelines on Corporte Governnce for Centrl Public Sector Enterprises, 2010 issued by Ministry of Hevy Industries nd Public Enterprises, Govt. of Indi, except the composition of Bord of Directors, Audit Committee nd Remunertion Committee due to the non ppointment of Independent Directors. funs'kd ds izf'k{k.k dh dksbz iz.kkyh fo eku ugh gs ftl ij fn'kk&funs Z'kks ds vuqikyu ij fopkj fd;k tk ldsa There is no mechnism of Director's trining in existence, which my be looked into for complince of guidelines. Corportion hs constituted Audit Committee nd remunertion Committee considering present composition of Bord of Directors. cksmz es funs'kdks ds 'kkfey gksus ij mi;qdr izf'k{k.k iz.kkyh ij fopkj fd;k tk,xka Suitble trining mechnism for directors t the time of induction on the Bord is under considertion. 86

89 Z ZZ Z Z Z ZZ Z ZZ Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kd dh fjiksvz dk vuqyxud-ii ¼?k½ lhih,lbz 2010 ds fy, dkiks ZjsV xous l ij fn'kk&funs Z'kks ds vrxzr dkjiksjsv xous l dh 'krks dk vuqikyu izek.k&i= lsok es] lnl; czg~eiq= osyh QfVZykbtj dkikszjs'ku fyfevsm uke:i] Mkd?kj% iczriqj& ftyk fmczwx<+ ¼vle½ geus Hkkjh m ksx vksj yksd m e e=ky;] Hkkjr ljdkj }kjk tkjh dsunzh; lkoztfud {ks= m e] 2010 ds fy, dkiks ZjsV 'kklu ij fn'kk&funs Z'kks es fu/kkzfjr vuqlkj 31 ekpz] 2012 dks lekir o"kz ds fy, czg~eiq= osyh QfVZykbtj dkiks Zjs'ku fyfevsm }kjk dkiks ZjsV 'kklu dh 'krks ds vuqikyu dh tk p dh gsa dkjiksjsv 'kklu dh 'krks dk vuqikyu izc/ku dh fteesnkjh gsa gekjh tkp dkjiksjsv 'kklu dh flfkfr dk vuqikyu lqfuf'pr djus ds fy, diuh }kjk viukbz xbz izfø;kvks vksj mlds dk;kzuo;u rd gh lhfer FkhA ;g u rks ys[kk&ijh{kk gs vksj u gh diuh ds forrh; fooj.k ij er dh vfhko;fdr gsa gekjs fopkj vksj gekjh tkudkjh es rfkk ges fn, x, Li"Vhdj.k ds vuqlkj ge ;g izekf.kr djrs gs fd diuh us mlds Lor= funs'kd e.my dh fu;qfdr dks NksM+dj dkiks ZjsV 'kklu dh 'krks dk vuqikyu fd;k gs] tks gekjs fopkj es Hkkjr ljdkj }kjk fd;k tkuk pkfg,a ;g uksv fd;k x;k gs fd izc/ku us le; ij 2 ¼nks½ Lor= funs'kdks dh fu;qfdr gsrq mozjd fohkkx] Hkkjr ljdkj ls lidz fd;k FkkA ANNEXURE-II (D) TO DIRECTORS' REPORT CERTIFICATE OF COMPLIANCE OF CONDITIONS OF CORPORATE GOVERNANCE UNDER GUIDELINES ON CORPORATE GOVERNANCE FOR CPSEs, 2010 To The Members Brhmputr Vlley Fertilizer Corportion Limited Nmrup, P.O.: Prbtpur Dist. - Dibrugrh (Assm) We hve exmined the Complince of Conditions of Corporte Governnce by Brhmputr Vlley Fertilizer Corportion Limited for the yer ended on 31st Mrch 2012 s stipulted in the guidelines on Corporte Governnce for Centrl Public Sector Enterprises, 2010 issued by Ministry of Hevy Industries nd Public Enterprises, Government of Indi. The Complince of Conditions of Corporte Governnce is the responsibility of the mngement. Our exmintion ws limited to the procedures nd implementtion thereof, dopted by the Compny for ensuring the Complince of the Conditions of Corporte Governnce. It is neither n udit nor n expression of opinion on the finncil sttement of the Compny. In our opinion nd to the best of our informtion nd ccording to the explntion given to us, we certify tht the Compny hs complied with the Conditions of Corporte Governnce except ppointment of Independent Directors on the Bord of the Compny, which we understnd is to be done by the Government of Indi. It hs been noticed tht the mngement hd pproched the Deprtment of Fertilizers, Government of Indi for ppointment of 2 (two) Independent Directors from time to time. 87

90 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ge vkxs ;g Hkh myys[k djrs gs fd,slk vuqikyu u rks diuh dh Hkkoh O;ogk;Zrk vksj u gh n{krk ;k izhkkodkfjrk] ftlls izc/ku us diuh ds dk;z fd, gs] dks lqfuf'pr djrk gsa LFkku % frulqfd;k fnukd % 11 vxlr] 2012 Ñrs ts-ih- vxzoky,m,lksfl,v~l diuh lfpoky; glrk@& ts-ih- vxzoky izksijkbzvj,qlh,l u lhih l We further stte tht such complince is neither n ssurnce s to the future vibility of the Compny nor the efficiency or effectiveness with which the mngement hs conducted the ffirs of the Compny. FOR J.P. AGARWAL & ASSOCIATES Compny Secretries Sd/- J.P. Agrwl Proprietor FCS No C.P Plce : Tinsuki Dte : August 11,

91 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm funs'kdks dh :ijs[kk 1- Jh jkekj; flg] HkwriwoZ v/;{k,o izc/k funs'kd] choh,qlh,y,pchvhvkbz dkuiqj ls jlk;u bthfu;fjx es Lrkud dh fmxzh ysus ds ckn Jh jkekj; flg us rrdkyhu QfVZykbtj dkwiks Zjs'ku vkwq bfm;k dh ukxy bdkbz es dk;zhkkj xzg.k fd;k Fkk rfkk ukxy vksj MªkEcs es izf'k{k.k izkir fd;k FkkA mudh vfre rsukrh,p,qlh,y] cjksuh e s gqbz FkhA Jh jkekj; flg us dbz lxbuks tsls bmks xyq QfVZykbtlZ fyfevsm] txnh'kiqj bdkbz] ds,l,q,y 'kktgkiqj bdkbz es fofhkuu inks ij dk;z fd;k gsa twu] 2010 es choh,qlh,y es v/;{k,o izc/k funs'kd ds in ij dk;zhkkj lhkkyus ls igys Jh flg esllz ukxktq Zu QfVZykbtlZ,M dsfedyl fyfevsm dh dkdhukmk bdkbz ds eqf[k;k FksA mugks us tgk&dgh Hkh dk;z fd;k] ÅtkZ dh [kir dks U;wure djus vksj {kerk mi;ksx es lq/kkj djus ds fy, dbz u, ifjorzu fd,a mugs tsls jk"vªh; vksj vrjkz"vªh; fudk;ks tsls,q,vkbz] vkbz,q, vkfn ls dbz iqjldkj vksj eku;rk, Hkh feyh gsa Jh flg us,q,vkbz] vkbz,q,],vkbz lh,pbz ¼jlk;u½ if=dk es dbz isij izlrqr@izdkf'kr fd, gsa os,q,vkbz ds funs'kd emy es funs'kdks es ls,d funs'kd gsa 2- Jh,u-ds- lkgk] funs'kd ¼mRiknu½ vksj lh,emh] choh,qlh,y ¼vfrfjDr izhkkj½ Jh,u-ds- lkgk tk/koiqj fo'ofo ky;] dksydkrk ls bysfdvªdy bthfu;fjx es Lukrd gsa mugks us,qlhvkbz] flnjh es dfu"b dk;zikyd izf'k{kq ¼bLVªwes V½ ds :i es vius dfj;j dh 'kq:vkr dh Fkh vksj tuojh] 1997 es,qlhvkbz] cjksuh es dfu"b bthfu;j ¼bLVªwes V½ cu x, FksA mugks us fnlcj] 2007 es choh,qlh,y uke:i es egkizc/kd ¼bdkbZ½ cuus ls igys blvªwes V vuqj{k.k fo"k; es fofhkuu inks ij,qlhvkbz],p,qlh vksj choh,qlh,y es dk;z fd;k FkkA mugks us fnukd dks funs'kd ¼mRiknu½ ds :i e s choh,qlh,y cksmz es dk;zhkkj xzg.k fd;k FkkA viuh folr`r lsok vof/k ds nksjku DIRECTORS' PROFILES 1. Shri Rmshry Singh, EX-CMD, BVFCL After grduting in chemicl Engineering from HBTI Knpur, Shri Rmshry Singh joined the then Fertilizer Corportion of Indi's Nngl Unit nd undergone trining t Nngl nd Tromby units with finl posting t HFCL Bruni. Shri Rmshry Singh worked in mny orgnistions like Indo Gulf Fertilizers Limited, Jgdishpur Unit, KSFL Shhjhnpur Unit in different cpcities. Before joining BVFCL s Chirmn & MD in June, 2010 Shri Singh hd been heding Kkind Unit of M/s. Ngrjun Fertilizers & Chemicls Ltd. He mde mny innovtive chnges in order to minimize energy consumptions nd improved cpcity utiliztion wherever he worked. He erned mny wrds nd recognitions for those orgnistions from ntionl nd interntionl bodies like FAI, IFA, etc. Shri Singh presented / published mny ppers in FAI, IFA, AICHE (Chem) journls. He ws lso one of Directors on the Bord of Directors of FAI. 2. Shri N.K. Sh, Director (Production) nd CMD, BVFCL (Additionl Chrge) Shri N.K. Sh is grdute in Electricl Engineering from Jdvpur University, Kolkt. He strted his creer s Junior Executive Trinee (Instrument) t FCI, Sindri nd becme Junior Engineer (Inst) in Jnury, 1977 t FCI Bruni. He worked in FCI, HFC nd BVFCL t vrious cpcities in instrument mintennce discipline before becoming GM (Unit) t BVFCL, Nmrup in December, He joined the BVFCL Bord s Director (Production) on During his vst service period, he ws instrumentl in deprtmentl Erection & 89

92 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm mugks us veksfu;k l;= dh vfxze lqj[kk ds fy,,p,qlh,y] cjksuh es 2-5 esxkokv xsl VckZbu ds mrfkkiu vksj LFkkiuk es dkjxj Hkwfedk fuhkkbz FkhA mugks us fo'ks"kdj blvªwe sv fo"k; es uke:i iqu#)kj ifj;kstuk es lfø; Hkwfedk fuhkkbz Fkh rfkk uke:i&ii vksj uke:i&iii veksfu;k l;=ks ds Mhlh,l vksj bz,lmh,l ds izki.k] mrfkku vksj LFkkiuk es eq[; Hkwfedk fuhkkbz FkhA mugks us l;=k es vu; fdqk;rh mik;ks ds vykok veksfu;k&iii l;=ks dh flfksfll dovzj ckwldsv dks cnyus] ghv,dlps tlz] VckZbu,M diz s'kj Lis;tZ] dwfyx Vkoj iqu#)kj lfgr dbz dk;z fd, gs rkfd choh,qlh,y uke:i mozjd l;= yecs le; rd dk;z dj lds A mugks us 1 fnlcj] 2011 ls choh,qlh,y ds vè;{k,o izc/k funs'kd dk dk;zhkkj lhkkyk gsa muds dk;zdky ds nksjku choh,qlh,y ds l;=ks ds lexz fu"iknu us {kerk mi;ksx] ÅtkZ [kir vksj ykhkiznrk ds vuqlkj i;kzir :i ls lq/kkj fd;k gsa 3- Jherh yfyrk nkl] ljdkjh funs'kd Jherh yfyrk nkl us mozjd fohkkx es 20 vxlr] 2010 ls mi lfpo ds in dk dk;zhkkj lhkkyk gsa orzeku es ] muds ikl mi lfpo ¼iz'kklu vksj lrdzrk½ dk izhkkj gsa mudh vk;q 59 o"kz gs vksj mugs iz'kklfud vksj lrdzrk ekeyks dk O;kid vuqhko gs rfkk mugks us fofhkuu e=ky;ks es dk;z fd;k gsa mugks us diuh ds s cksmz es ls funs'kd ds :i es dk;zhkkj lhkkyk gsa os QfVZykbtj dkiks Zjs'ku vkwq bfm;k ds funs'kd e.my es funs'kd Hkh gsa os diuh dh ys[kk&ijh{kk lfefr rfkk QfVZykbtj dkiks Zjs'ku vkwq bfm;k dh Hkh lnl; gsa 4- Jh euh"k f=ikbh] ljdkjh funs'kd Jh euh"k f=ikbh Hkkjrh; j{kk ys[kk lsok ¼vkbZMh,,l½ ls gsa os Hkkjrh; izks ksfxdh llfkku] dkuiqj ls ;kf=d bthfu;fjx es ch-vsd ¼gkulZ½ Commissioning of 2.5. MW Gs Turbine t HFCL, Bruni for front end protection of Ammoni Plnt. He plyed n ctive role in Nmrup Revmp Project prticulrly in Instrument discipline nd took led role in the procurement, erection nd commissioning of DCS & ESDS of Nmrup-II & Nmrup-III Ammoni Plnts He hs lso initited number of ctions including replcement of Synthesis converter Bsket of Ammoni-III Plnts, Het Exchnges, Turbine & Compressor spres, Cooling Tower Renovtion, besides other cost effective mesures in the Plnts leding to long term sustennce of BVFCL Nmrup Fertilizer Plnts. W.e.f. 1st December, 2011, he took over the chrge of Chirmn nd Mnging Director of the BVFCL. During his tenure, overll performnce of BVFCL plnts significntly improved in term of cpcity utilistion, energy consumption nd profitbility. 3. Smt. Llith Ds, Govt. Director Smt. Llith Ds joined the Deprtment of Fertilizers w.e.f 20th August, 2010 s Deputy Secretry. At present she is holding the chrge of Deputy Secretry (Administrtion & Vigilnce). Aged bout 59 yers, she hs vried experience in dministrtive nd vigilnce mtters nd hs served different Ministries. She joined the Bord of the Compny on s Director. She is lso Director in the Bord of Directors of Fertilizer Corportion of Indi. She is lso member of the Audit Committee of the Compny s well s tht of Fertilizer Corportion of Indi. 4. Shri Mnish Tripthi, Govt. Director Shri Mnish Tripthi is from Indin Defence Account Service (IDAS). He is B.Tech (Hon.) in Mechnicl Engineering from Indin Institute 90

93 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm gsa orzeku es os mozjd fohkkx es mi lfpo ds in ij rsukr gs vksj fons'kks es ;wfj;k uhfr vksj l;qdr m eks rfkk,qlhvkbz,y vksj,p,qlh,y dh cn bdkb;ks ds iqu#)kj dks ns[krs gsa os choh,qlh,y] ihih,y es funs'kd dk in Hkh èkkj.k fd, gq, gsa mugs forr] lwpuk izks ksfxdh vksj ys[kk ds {ks= dk O;kid vuqhko gsa 5- Jh fot; jtu flg] funs'kd ¼moZjd½] mozjd fohkkx Jh fot; jtu flg fnyyh fo'ofo ky; ls oulifr fokku es LukrdksRrj gsa os Hkkjrh; ou lsok ¼vkbZ,Q,l½ ds 1996 csp ds vf/kdkjh gs vksj orzeku es mozjd fohkkx ¼jlk;u vksj mozjd e=ky;½ es funs'kd ¼moZjd½ ds in ij dk;zjr gsa blls igys os finys ckjg o"kks rd dukzvd ou fohkkx] ipk;rh jkt llfkkuks rfkk ljdkjh fu;f=r lkslk;vh es dk;z dj pqds gsa mugks us if'peh?kkvks es ljf{kr {ks=ks ] izkf.k m ku vksj vkjf{kr ouks dk lqyrkiwozd izc/ku fd;k gsa os vkfnoklh ifjokjks ds iquokzl rfkk turk dh Hkkxhnkjh ls fodkl dk;kzuo;u lc/kh dk;zøeks ls tqm+ s jgs gsa mugks us eslwj ds n'kgjk tsls lkoztfud dk;zøeks ds izpkj vksj dkjiksjsv izk;kstu ds ny ds usrk ds :i es Hkh dk;z fd;k gsa 6- Jh jktho dqekj] ljdkjh funs'kd Jh jktho dqekj dsunzh; lfpoky; lsok ¼lh,l,l½ ds vf/kdkjh gs vksj orzeku es mozjd fohkkx es mi lfpo ¼iz'kklu vksj lrdzrk½ ds in ij rsukr gsa os bdksuksesfvªdl lfgr vfkz'kkl= es LukrdksRrj gs vksj ch,llh gsa blds vykok] os di;wvj vuqiz;ksx] fllve fo'ys"k.k vksj izksxkfex di;wvj vuqiz;ksx es,mokl fmiyksek] vkbzbzvhbz rfkk,d izek.k&i= ¼:lh Hkk"kk½ Hkh j[krs gsa of Technology, Knpur. He is presently posted s Deputy Secretry in the Deprtment of Fertilizers nd looking fter the Ure Policy & Joint Ventures brod nd Revivl of Closed units of FCIL nd HFCL. He lso holds directorship in the BVFCL, PPL. He hs rich experience in the re of Finnce, IT nd Accounting. 5. Shri Vijy Rnjn Singh, Director (Fertilisers), DOF Shri Vijy Rnjn Singh is post grdute in Botny from Delhi University. He is n Indin Forest Service (IFS) Officer of 1996 Btch nd presently working s Director (Fertilizers) in Deprtment of Fertilizers (Ministry of Chemicls & Fertilizers). Erlier, he hs served in Krntk Forest Deprtment, Pnchyt Rj Instititutions nd Government controlled Society for lst twelve yers. He hs successfully mnged the Protected Ares, Zoologicl Grden nd Reserved Forests in Western Ght. He ws involved in rehbilittion of tribl fmilies nd implementtion of development progrmmes with peoples' prticiption. He hs worked s tem leder for Publicity nd Corporte Sponsorship for public events viz. Mysore Dsr for five yers. 6. Shri Rjiv Kumr, Govt. Director Shri Rjiv Kumr is n officer of Centrl Secretrit Service (CSS) nd is, presently, holding the post of Deputy Secretry (Administrtion nd Vigilnce) in the Deprtment of Fertilizers. He is post grdute in Economics with Econometrics, nd hving degree of B.Sc. Additionlly, he lso possesses Diplom in Computer Appliction, System Anlysis & Progrmming, Advnce Diplom in Computer Appliction, IETE nd Certificte of (Russin Lnguge). 91

94 s s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm mozjd fohkkx es mi lfpo ds in dk dk;zhkkj lhkkyus ls igys Jh dqekj fofhkuu e=ky;ks tsls ukxj foekuu e=ky;] Ñf"k vksj okf.kt; es dk;z dj pqds gsa mugs LFkkiuk] dk;z v/;;u vksj vks,.m,e dk;z] {ks=h; dk;kzy;ks ds iz'kklu] dsunzh; {ks= ;kstukvks ] ctv vksj forr ds {ks= es 30 o"kz ls vf/kd dk O;kid vuqhko izkir gs ftle vfèkfu;eks ds iz'kklu] Lok;Rr fudk;ks ds iz'kklu] vrjkz"vªh; O;kikj],uVhvks ekeys] djkj] olrqvk dk vk;kr@fu;kzr] O;kikj uhfr] ekun.mks dk fuèkkzj.k vkfn 'kkfey gsa 7- Jh fprk osdv Ñ".k ¼Lor= funs'kd½ Jh fprk os dv Ñ".k gsnjkckn ls,d iz sfdvflx pkvzmz,dkmvs V gs vksj esllz lh- os dv Ñ".k,M diuh] pkvzmz,dkmv sv es ofj"b Hkkxhnkj gs] ftudk eq[;ky; jksm u- 12] ctkjk fgyl] gsnjkckn es flfkr gs rfkk 'kk[kk fo'kk[kkiv~vue] vk/kz izns'k es gsa os izeq[k ys[kk&ijh{kk QeZ gs ftugs O;kolkf;d {ks= dk yxhkx 30 o"kz dk vuqhko gs rfkk os ys[kkdu vksj djk/kku ds {ks=ks es mrñ"v lsok, iznku dj jgs gsa mugs Hkkjr ds fu;=d vksj egkys[kkdkj] Hkkjrh; fjtoz csd rfkk jk"vªh; jktekxz izkf/kdj.k }kjk cuk, x, isuy es gsa Jh os dv Ñ".k us izfrf"br Jh jke dkwyst vkwq dkelz] fnyyh ls ch-dke ¼gkulZ½ es Lukrd fd;k gs rfkk o"kz 1981 es pkvzmz,dkmvs V dh ijh{kk mrrh.kz dh FkhA os o"kz 2009 ls 2011 rd 3 o"kz dh vof/k ds fy, Hkkjrh; LVsV csd ds gsnjkckn LFkkuh; cksmz es v'kdkfyd xsj&ljdkjh funs'kd jgs gs rfkk foxr es Hkkjrh; pkvzmz,dkmvs V llfkku ds nf{k.k Hkkjr {ks=h; ifj"kn lfefr es dbz inks ij lq'kksfhkr jgs gsa Shri Kumr served in vrious Ministries like Ministry of Civil Avition, Agriculture, nd Commerce, before ssuming the chrge s Deputy Secretry in the Deprtment of Fertilizers. He cquired vst experience of more thn 30 yers in the field of Estblishment, Work Study & O&M work, dministrtion of field offices, Centrl Sector Schemes, Budget & Finnce, including dministrtion of Acts, dministrtion of utonomous bodies, Interntionl Trde, WTO mtters, greements, Import / Export of commodities, trde policy, fixtion of norms, etc. 7. Shri Chint Venkt Krishn (Independent Director) Shri Chint Venkt Krishn is Prcticing Chrtered Accountnt from Hyderbd nd Senior Prtner in M/s C Venkt Krishn & Co, Chrtered Accountnts hving Hed Office t Rod No 12 Bnjr Hills, Hyderbd nd brnch t Vishkptnm, Andhr Prdesh. They re leding uditing firm with bout 30 yers of professionl stnding nd re rendering omnibus services in the fields of Auditing nd Txtion. They re in the pnel mintined by The Comptroller nd Auditor Generl of Indi, The Reserve Bnk of Indi nd The Ntionl Highwys Authority of Indi. Shri Venkt Krishn hs grduted from the prestigious Shri Rm College of Commerce, Delhi with B. Com. (Hons.) nd hs qulified s Chrtered Accountnt in the yer He hs been prt-time Non-Officil Director on the Hyderbd Locl Bord of Stte Bnk of Indi for period of 3 yers from 2009 to 2011 nd hd occupied severl positions in the pst in the Southern Indi Regionl Council Committee of the Institute of Chrtered Accountnts of Indi. 92

95 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm os ikp iqlrdks ds tkus&ekus ys[kd Hkh gs & nks iqlrds vxz sth 'kcnks rfkk mppkj.k ij gs ftudk 'kh"kzd ^^bu vnj omzl^^ rfkk ^^izufl,'ku^^ gsa budk izdk'ku Øe'k% 2000 vksj 2001 es gqvk Fkk rfkk o"kz 2005 vksj 2009 es fldosy ds :i es ^^bu DosLV vkwq n ikwe^^ rfkk ^^lksfjx gkbz^^ uked iz[;kr thouh izdkf'kr gqbz FkhA thouh dk o"kz 2010 es ^^fof'k"v O;kDrhroe^^ 'kkh"kzd ls rsyqxq es vuqokn fd;k x;k gsa He is lso known uthor of Five Books - two books on the English words nd pronuncition titled "In OTHER WORDS' nd "PRONUNCIATION" published in the yers 2000 nd 2001 nd the well cclimed biogrphy titled "IN QUEST OF THE PALM" nd "SOARING HIGH" published s sequels in the yers 2005 nd The biogrphy hs been trnslted in Telugu under the title "VISHISHTA VYAKTHITHVAM" in the yer

96 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm czg~eiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ds 'ks;jgksymjks dh ys[kk&ijh{kd fjiksvz 1- geus czg~eiq= osyh QfVZykbtj dkwikszjs'ku fyfevsm] uke:i ds 31 ekpz] 2012 rd ds lyxu rqyu&i=] ykhk vksj gkfu ys[kk rfkk ml rkjh[k dks lekir o"kz ds udn izokg fooj.k dh ys[kk&ijh{kk dh gs] ftlds lkfk nksuks lyxu gsa ;s forrh; fooj.k diuh ds izc/ku dk mrrjnkf;ro gsa gekjh fteesnkjh viuh ys[kk&ijh{kk ds vk/kkj ij bu forrh; fooj.kks ij jk; O;Dr djuk gsa 2- geus Hkkjr es lkeku;r;k LohÑr ys[kk&ijh{kk ekudks ds vuqlkj viuh ys[kk&ijh{kk dh gsa bu ekudks ds vrxzr ;g vis{kk dh tkrh gs fd ge mi;qdr vk'oklu izkir djus ds fy, ;kstuk cuk, vksj ys[kk&ijh{kk djs rkfd mi;qdr vk'oklu izkir dj lds fd D;k forrh; fooj.k lkexzh voklrfod rks ugh gsa ys[kk&ijh{kk es ijh{k.k ds vk/kkj ij tkp djuk] forrh; fooj.kks es jkf'k vksj [kqykls dh iqf"v djus okys lk{; 'kkfey gsa ys[kk&ijh{kk es iz;qdr ys[kkdu fl)krks dk vkdyu djuk rfkk izc/ku }kjk yxk, x, egroiw.kz vuqekuks rfkk forrh; fooj.kks dh lexz izlrqfr dk ewy;kdu djuk 'kkfey gsa ge le>rs gs fd gekjh ys[kk&ijh{kk gekjs er ds fy, mi;qdr vk/kkj miyc/k djk,xha 3- diuh vf/kfu;e] 1956 dh /kkjk 227 ¼4d½ ds vuq:i Hkkjr l?k ljdkj }kjk tkjh diuh ¼ys[kk&ijh{kd fjiksvz½ vkns'k] 2003 dh vis{kkuqlkj vksj,slh tkp ds vk/kkj ij tslk fd geus mi;qdr le>k gs vksj ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj ge vuqyxud ds lkfk mdr vkns'k ds isjk 4 vksj 5 es fofufnz"v ekeyks ij,d fooj.k lyxu djrs gsa AUDITOR'S REPORT TO THE SHAREHOLDERS OF BRAHMAPUTRA VALLEY FERTILIZER CORPORATION LIMITED 1. We hve udited the ttched Blnce Sheet of BRAHMAPUTRA VALLEY FERTILIZER CORPORATION LIMITED s t 31st Mrch, 2012, the Sttement of Profit nd Loss nd the Csh Flow Sttement for the yer ended on tht dte, nnexed thereto. These finncil sttements re the responsibility of the compny's mngement. Our responsibility is to express n opinion on these finncil sttements bsed on our udit. 2. We conducted our udit in ccordnce with uditing stndrds generlly ccepted in Indi. Those stndrds require tht we pln nd perform the udit to obtin resonble ssurnce bout whether the finncil sttements re free of mteril missttement. An udit includes, exmining on test bsis, evidence supporting the mounts nd disclosures in the finncil sttements. An udit lso includes ssessing the ccounting principles used nd significnt estimtes mde by mngement, s well s evluting the overll presenttion of the finncil sttements. We believe tht our udit provides resonble bsis for our opinion. 3. As required by the Compnies (Auditor's Report) Order, 2003 issued by the Centrl Government of Indi in terms of Section 227(4A) of the Compnies Act, 1956 nd on the bsis of such checks s we considered pproprite nd ccording to the informtion nd explntions given to us, we set out in the Annexure, sttement on the mtters specified in the Pr 4 nd 5 of the foresid Order. 94

97 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 4- fueufyf[kr ij /;ku vkñ"v fd;k tkrk gs% 4-1½ pw fd dks lekir forrh; o"kz ds vr es 77] yk[k #i, dh lfpr gkfu mlds fuoy ewy; ls ipkl izfr'kr vf/kd Fkh] vr% diuh vf/kfu;e 1956 dh /kkjk 2¼46 dd½ ds vuqlkj diuh #X.k vks ksfxd miøe ds {ks=kf/kdkj es vk xbz gsa 4-2½ diuh dh ;g uhfr gs fd ftl rkjh[k ls fdlh ifjlifrr dk blrseky fd;k tkrk gs] mls mlh rkjh[k ls i wthxr ekuk tk,a pkyw i wthxr dk;z ¼fVIi.kh 2-8½ es 2] yk[k #i, ¼fiNyk yk[k #i,½ ewy; ds i wthxr Hk.Mkj@midj.k 'kkfey gs] ftug s ; fi [kjhn fy;k x;k gs fdrq vhkh tkjh ugh fd;k x;k gsa iw thxr midj.kk s dks muds blrseky dh rkjh[k ls i wthxr ekuk tk,xka 4-3½ diuh ds funs'kd emy dh 63oh csbd es 31 ekpz] 2012 dks lekir forrh; o"kz ds fy, diuh ds okf"kzd ys[kkvks ij dks vuqeksfnr fd;k x;k FkkA diuh us Vkbi lc/kh dqn =qfv;ks vksj iw.kkz fdr vrj es lq/kkj djus ds fy, mi;q ZDr vuqlkj vius forrh; fooj.kks es l'kks/ku fd;k gs rkfd iqjkus HkMkjks vksj vfrfjdr iqtks ¼vpy½ ds izko/kku ds lc/k es ys[kkdu uhfr dk [kqyklk fd;k tk lds rfkk forrh; fooj.kks dh fvii.kh l es myys[k fd, x, vuqlkj iw th [kkrs es Bsdks dks fu"ikfnr fd, tkus ds lc/k es vkdfled ns;rk dk [kqyklk fd;k tk ldsa diuh us cksmz dh 64oh csbd es,sls l'kksf/kr forrh; fooj.k dks 24 flrcj] 2012 dks vuqeksfnr dj fn;k gs vksj ge l'kksfèkr forrh; fooj.kks ds lc/k es ys[kk&ijh{kk fjiksvz tkjh dj jgs gsa 5- Åij mfyyf[kr vuqyxud es dh xbz gekjh fviif.k;ks ds vkxs ge fjiksvz djrs gs fd% 5-1½ jktlgk;rk nkos% diuh us forrh; o"kz 2011&12 ds fy, fd, x, 4. Attention to the following is invited: 4.1) Since ccumulted losses of $ 77, lcs t the end of the finncil yer ending on exceeds fifty percent of its net worth, the compny comes within the purview of Sick Industril Undertking s per section 2(46AA) of the Compnies Act, ) It is the policy of the compny to cpitlize n sset from the dte it is put to use. Cpitl work in progress (Note 2.8) includes cpitl stores / equipments worth $ 2, (Previous yer $ 2, lcs) which though purchsed re not yet issued. These cpitl stores / equipments will be cpitlized when these will be put to use. 4.3) The Finncil Sttements of the Compny s t nd for the yer ended 31st Mrch, 2012 were pproved in the 63rd meeting of the bord of directors of the compny on 30th August, The compny hs revised it's finncil sttements s bove in order to rectify certin typogrphicl errors nd rounding off differences, to disclose ccounting policy relting to provision for obsolescence on stores nd spres (non moving) nd to disclose contingent libility in respect of contrcts remining to be executed on cpitl ccount s stted in Note No to finncil sttements. The compny hs pproved such revised finncil sttements in their 64th Bord Meeting on 24th September, 2012 nd we re issuing this udit report in reltion to the revised finncil sttements. 5. Further to our comments in the Annexure referred to bove, we report tht : 5.1) Subsidy Clims: The compny hs ccounted for Escltion 95

98 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm nkos ds vk/kkj ij x.kuk dh xbz 2] yk[k #i, ¼fiNyk o"kz 1] yk[k #i,½ ds c<s + gq, ewy; dh jkf'k ¼jktlgk;rk½ dk ys[kk&tks[kk j[kk gsa,sls nkoks dk vfre fuivku gksus rd] blls im+us okyk dksbz izhkko] ;fn dksbz gks] rks og vizki; gs ¼ns[ks uksv 2-16 dk?k½a 5-2 mriz sjdks dk ys[kkdu% diuh us,qvkbzlhlh }kjk eku;rkizkir mriz sjd dh ykxr ds mipkj ds lkfk lekurk cuk, j[kus ds fy, vklfkfxr jktlo O;; ds :i es mriz sjd dh [kir gsrq [kpz dh xbz jkf'k dk ys[kkdu fd;k gsa ¼ns[ks fvii.kh 1 dk ¼1½ rfkk fvii.kh 2-10½] tks vkbzlh,vkbz }kjk tkjh ys[kkdu ekud 26 dk myy?ku gsa 5-3½ fu;r ifjleifrr% d½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj diuh ds ikl yxhkx 2797 ch?kk Hkwfe gs vksj ekuuh; xqokgkvh mpp U;k;ky; ds funs Z'kks ds vuqlkj Hkwfe dk lhekdu fd;k tk jgk gsa tslk fd myys[k fd;k x;k gs dkiks Zjs'ku ds Hkw&vfHkys[kks dk jkt; ljdkj ds vfhkys[kks ds lkfk iqu% lek;kstu fd;k tk jgk gsa Price (Subsidy) mounting to $ 2, (previous yer $ 1, lcs on clim lodged bsis for the finncil yer Pending finl settlement of such clims, the effect rising out of this, if ny, is unscertinble. {Refer D of Note 2.16}. 5.2) Accounting of Ctlyst: The compny hs ccounted for the cost incurred for consumption of ctlyst s deferred revenue expenditure to keep prity with the tretment of cost of ctlyst recognized by FICC. (Refer (I) of Note 1 nd Note 2.10), which is in violtion of Accounting Stndrd 26 issued by the ICAI. 5.3) Fixed Assets: ) According to the informtion nd explntions given to us, the compny possesses lnd mesuring round 2797 bighs nd the demrction of lnd is under process s per the directives of Hon'ble High Court of Guhti. As stted, the lnd records of the Corportion re lso being reconciled with the records of the Stte Government. [k½ x½?k½ ge vufre ykxr ij cqd dh xbz Hkwfe rfkk iw thdj.k ij im+us okys blds ifj.kkeh izhkko ds lc/k es fu;r ifjlifrr;ks dh vuqlwph fvii.kh 2-8 dk 2¼d½ dh vksj /;ku vkdf"kzr djrs gsa,qvkbzlhlh dh ewy;&fu/kkzj.k uhfr ds lkfk&lkfk esllz ihmhvkbz,y dh ifj;kstuk lhkko;rk fjiksvz ds lkfk lekurk n'kkzrs gq, l;= vksj e'khujh ds fy, 5-28% ds LFkku ij 6-33% dh mpp nj ls ewy; gzkl olwy fd;k x;k gs ftlls o"kz dh gkfu yk[k #i, c<+h gss vksj forrh; o"kz 2002&03 ds ckn 4] yk[k #i, dh lp;h gkfu dk izhkko imk gsa o"kz ds nksjku diuh us 'kh"kz l;= vksj e'khujh b) We further invite ttention to 2() of Note 2.8 of Fixed Assets, with regrd to lnd booked t provisionl cost nd it's consequentil effect on Cpitliztion. c) Deprecition on Plnt & Mchinery (Revmp) is being 6.33% ginst 5.28% s per Compnies Act, 1956 to keep prity with the FICC pricing policy s well s the project fesibility report of M/s. PDIL which hs the effect of incresing the loss for the yer by $ lcs nd cumultive effect to the extent of loss of $ 4, lcs from F.Y onwrds. d) During the yer, Compny hs cpitlized 96

99 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ds vrxzr 4] yk[k #i, dk iw thdj.k fd;k gs] ftles ls vf/kdk'k dh O;kid ejeer vksj uohdj.k dh tkuh gs ;k cnyk tkuk gsa diuh us,slh cnyh tkus okyh enks ds ewy; dks cv~vs [kkrs es ugh Mkyk ugh fd;k gsa rfkkfi] fu;r ifjlifrr;ks ij ys[kkdu ekud 10 ds vuqlkj ekstwnk fu;r ifjlifrr;ks es vkxs iw thdj.k dh rhkh vuqefr nh tkrh gs ;fn fu;r ifjlifrr;ks ls lhkkfor Hkkoh ykhk igys ls ewy;kfdr ekud fu"iknu ls c<+ tk,a lwpuk ds vhkko es ge ;g fvii.kh djus es vlefkz gs fd D;k l;= vksj e'khujh es diuh }kjk fd;k x;k i wthdj.k ys[kkdu ekud 10 ds vuqlkj gsa 5-4½ m/kkj ykxr dk iw thdj.k% Hkkjr ljdkj ls fy, x, ;kstuk vksj ;kstusrrj _.kks ls izkir fu;r ifjlifrr;ks ds lc/k es mèkkj ykxr ds okfnr mi;ksx ds fy, rs;kj dh tk jgh,slh ifjlifrr;ks dks rkjh[k ls iw thñr ugh ekuk tk jgk gsa ;g ^^m/kkj ykxr^^ ij ys[kkdu ekud 16 dk myy?ku Fkk vksj diuh }kjk viukbz xbz m/kkj ykxr ij ys[kkdu uhfr Lohdkj dh xbz FkhA 5-5½ ekx&lwph% diuh us dks uke:i&i] II vksj III ds iw thxr Hk.Mkj vksj vu; Hk.Mkjks dh ekx&lwph ds ekeys es lhkkfor gkfu ds fy, yk[k #i, ¼fiNys o"kz yk[k #i,½ dk izko/kku fd;k gs tc rd ekx lwph 4] yk[k #i, ¼4] yk[k #i,½ FkhA ges fdlh rduhdh vuqeku@fjiksvz ds vhkko es liw.kzrk ds fy, izkoèkku dh I;kZIrrk ij fvii.kh djus es vlefkz gsa 5-6½ orzeku ns;rk, & fofo/k ysunkfj;k % leh{kk/khu o"kz ds nksjku vkw;y bfm;k fyfevsm vksj vle xsl deiuh ls rd ds ys[kks dh leh{kk iqf"v izkir dh xbz Fkh vksj 'ks"k dk lekèkku $ 4, lcs under the hed plnt nd mchinery, most of which re in the nture of mjor repirs, renewls, or replcements. The compny hs lso not written off/deprecited, vlue of such replced items. However, s per Accounting Stndrd 10 on "Fixed Assets" further cpitliztion in existing fixed ssets is permissible only when the expected future benefits from fixed ssets increse previously ssessed stndrd performnce. In bsence of ny report from technicl expert, we re unble to comment whether cpitliztion by compny in plnt nd mchinery is s per Accounting Stndrd ) Cpitliztion of Borrowing Costs: Borrowing Cost in reltion to fixed ssets cquired from pln nd non-plns lons viled from Government of Indi up to the dte when such ssets re being redy for intended use hs not being cpitlized. This is in contrvention to Accounting Stndrd 16 on "Borrowing Cost" nd ccepted Accounting Policy on borrowing cost followed by the compny. 5.5) Inventories: The Compny holds the provision of $ lcs (previous yer $ lcs) ginst possible loss in cse of inventory of Cpitl Stores nd Other stores nd spres of Nmrup I, II & III s on ginst n inventory of $ 4, lcs (previous yer $ 4, lcs). We re unble to comment on the dequcy of provision for obsolescence in bsence of ny technicl estimte / report. 5.6) Current Libilities- Trde Pybles: During the yer under review, confirmtion of Accounts with Oil Indi Limited nd Assm Gs Compny Limited were obtined nd the 97

100 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fd;k x;k FkkA rfkkfi] 'ks"k fofo/k ysunkjks ls iqf"v izkir gksus ij vko';d lek;kstu fd;k tk,xka 5-7½ fofo/k ysunkj] _.k vksj vfxze% blnces s on were reconciled. Blnces of other trde pybles re subject to confirmtion nd djustments necessry upon reconcilition. 5.7) Trde Receivbles, Lons & Advnces: d½ fofo/k ysunkjks ds cdk;k] _.k vksj vfxze rfkk fofhkuu vu; _.k cdk;k lek/kku ds fy, vko';d iqf"v vksj lek;kstu ds v/;/khu gsa ) Blnces of Trde Receivbles, Lons & Advnces nd vrious other debit blnces re subject to confirmtion nd djustments necessry upon reconcilition. [k½ 31 ekpz] 2012 dks fofhkuu ikfvz;ks dks fn;k x;k _.k vksj vfxze yk[k #i, gs] ftles 3 o"kks ls vf/kd le; ls nh xbz yk[k #i, dh vfxze jkf'k 'kkfey gs ftlds fy, diuh us yk[k #i, dk izko/kku fd;k gs] ifj.kkelo:i izko/kku es yk[k #i, dh deh gqbz gsa 5-8½ fdjk, dh olwyh% vf/kdrj ekeyks es iv~vk djkj dh vof/k lekir gks pqdh gsa fdjk,nkjks ls nks o"kz ls vf/kd dk yk[k #i, ¼fiNys o"kz yk[k #i,½ fdjk;k izkir gqvk gs ftles ls diuh us fdjk, dh olwyh u gksus dks ns[krs gq, lhkkfor gkfu ds fy, 7-75 yk[k #i, ¼fiNys o"kz 7-00 yk[k #i,½ dk izko/kku j[kk gsa 5-9½ rs;kj olrqvks dk ewy;kdu% tslk fd izc/ku }kjk myys[k fd;k x;k gs] forrh; o"kz 2011&12 ds fy, ykxr ys[kk gekjh ys[kk&ijh{kk dh rkjh[k rd ugh fd;k x;k gsa rs;kj olrqvks ¼;wfj;k½ dk vuqekfur ykxr ;k fuoy oklrfod ewy;] tks Hkh de gks] ij ewy;kdu fd;k x;k gsa rfkkfi] ^^ekx&lwph ds ewy;kdu^^ ij ys[kkdu ekud 2 ds vuqlkj bls ykxr ;k fuoy izkir ewy; ij ewy;kdu fd;k tkuk pkfg, FkkA 5-10½ v)z&rs;kj olrqvks dk ewy;kdu% v)z&rs;kj olrqvks ¼veksfu;k½ dk ewy; vuqekfur ykxr ij fy;k x;k gs ; fi fuoy izkir ewy; ykxr ls de gsa rfkkfi] diuh }kjk viukbz xbz b) Long Term Lons & Advnces given to vrious prties s t 31st Mrch, 2012 mounts to $ lcs which includes $ lcs dvnced for more thn 3 yers ginst which the compny holds provision of $ lcs resulting in short provision of $ lcs. 5.8) Recovery of Rent: Lese Agreements in most of the cses re time brred. Further rent of $ lcs (Previous Yer $ lcs) is receivble from tennts for more thn two yers out of which the compny holds provision of $ 7.75 lcs (Previous yer $ 7.00 lcs) ginst possible loss due to non recovery of rent. 5.9) Vlution of Finished Goods: As stted by the mngement, Cost udit hs not been done for the finncil yer till dte of our udit. Finished goods (Ure) hve been vlued t estimted Cost or Net Relizble Vlue whichever is lower. However, s per Accounting Stndrd 2 on "Vlution of Inventories", the sme should be vlued t Cost or Net Relizble Vlue. 5.10) Vlution of Work in progress (Ammoni): Work in progress (Ammoni) hs been vlued t estimted cost though Net Relizble Vlue is lower thn cost. However, s per the 98

101 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm LohÑr ys[kkdu uhfr rfkk ^^ekx&lwph ds ewy;kdu^^ ij ys[kkdu ekud 2 ds vuqlkj bldk fuoy izkir ewy; ij ewy;kdu fd;k tk,xka 5-11½ uqdlku ds fy, izko/kku dks myvuk% vk rfjd rduhdh lfefr dh flqkfj'k ds vk/kkj ij diuh us forrh; o"kz 2009&10 ds nksjku yk[k #i, ds uke:i&iii l;=k es veksfu;k&i ds l;=@lhihmcy;wmh ds Hkkx dks LFkkukrfjr@i wthñr fd;k gsa bu ifjlifrr;ks ds uqdlku dh finys o"kz?kks"k.kk dh xbz Fkh ¼ns[ks vuqlwph&27 dk isjk 5½A forrh; o"kz 2009&10 ds nksjku diuh us vuqekfur vk/kkj ij yk[k #i, ¼ yk[k #i, dk 70%½ dh gkfu ds izko/kku dks nksckjk tksm+k gsa fjolzy ds fy, viukus tkus dk ;g vk/kkj ^^ifjlifrr;ks ds lq/kkj^^ ij ys[kkdu ekud 28 ds isjk 93 ls 107 ds vuqlkj ugh gsa 5-12½ mi;qzdr mi&isjk 5-1 ls 5-11 es fofufnz"v ekeyks ds lc/k es nh xbz lwpuk ls ge dks o"kz dh gkfu vksj fuoy ns;rkvks ij muds izhkko ij viuk er Li"V djus es vlefkz gsa 6- gekjh fviif.k;ks ds vuqlkj mi;q ZDr isjk 5-1 ls 5-11 rd ds vrxzr ge fjiksvz djrs gs fd 6-1½ geus lhkh lwpuk, vksj Li"Vhdj.k izkir dj fy, gs tks gekjh loks ZRre tkudkjh vksj fo'okl ds vuqlkj gekjh ys[kk&ijh{kk ds iz;kstuks ds fy, vko';d FksA 6-2½ gekjs fopkj ls deiuh dh ifjokj is 'ku ;kstuk ds vurxzr udn Hkqxrku ¼ns[ks fvii.kh 1 dk 1x½ vksj ewy jkf'k dh olwyh [ns[ks fvii.kh 1 dk ¼iii½] djus ds i'pkr~ dezpkfj;ks dks fn, x, vfxze ij C;kt dk fglkc j[kus ds vykok] deiuh us fofèk ds vurxzr visf{kr mfpr [kkrs j[ks gs] tslk fd ccepted ccounting policy followed by the compny nd s per Accounting Stndrd 2 on "Vlution of Inventories", the sme should lwys be vlued t Net Relizble Vlue. 5.11)Reversl of Provision for Impirment Loss: Bsed on recommendtion of n in-house technicl committee, the compny hd trnsferred/cpitlized prt of Plnt/CWIP of Ammoni I in Nmrup II nd Nmrup III plnts mounting to $ lcs during the finncil yer These ssets were declred impired in the erlier yers (Refer 4 of Note 2.8). During the finncil yer , the compny hd written bck impirment provision to the extent of $ lcs (70% of the $ lcs) on n estimted bsis. As reported in the preceding yer, the bsis dopted for such reversl ws not in ccordnce with Pr 93 to 107 of Accounting Stndrd 28 on "Impirment of Assets". 5.12)In respect of mtters specified in subprgrphs 5.1 to 5.11 bove, from vilble informtion we re unble to express our opinion s to the extent of their overll effect on the loss for the yer nd net ssets s t Subject to our observtion under Pr 5.1 to 5.11 bove, we report tht; 6.1) We hve obtined ll the informtion nd explntions, which to the best of our knowledge nd belief were necessry for the purpose of our udit. 6.2) In our opinion, except Pyment under Compny's Fmily Pension Scheme (Refer K of Note 1) on csh bsis nd Accounting of Interest on Advnces to employees fter recovery of principl mount {Refer F (iii) of Note 1}, proper books of ccount s required 99

102 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm mi&[kkrks dh tkp djus ls irk pyrk gsa 6-3½ bl fjiksvz es myys[k fd, x, rqyu&i=] ykhk vksj gkfu [kkrk rfkk udn izokg fooj.k ys[kk iqlrdks ls esy [kkrs gsa 6-4½ gekjs fopkj es mi;q ZDr isjk 5-2] 5-3¼M-½] 5-4] 5-9] 5-10 vksj 5-11 es fu/kkzfjr vuqlkj dks NksM+dj bl fjiksvz es myys[k fd, x, rqyu i=] ykhk vksj gkfu [kkrk deiuh vf/kfu;e] 1956 dh /kkjk 211 dh mi /kkjk ¼3x½ es mfyyf[kr ys[kkdj.k ekudks ds vuqlkj rs;kj fd, x, gsa 6-5½ ds nz ljdkj us fnukd dh vf/klwpuk l- lk-dk-fu- 829¼bZ-½ ds rgr funs'k fn;k gs fd deiuh vf/kfu;e] 1956 dh /kkjk 274 dh mi èkkjk¼1½ dk [k.m ¼N½ ljdkjh deiuh ij ykxw ugh gksrk gsa 6-6½ gekjs fopkj es vksj gekjh mrñ"v tkudkjh rfkk ges fn, x, Li"Vhdj.k ds vuqlkj%& i½ lyxu fooj.kks ij isjk 5-12 ds vrxzr lwfpr ekeys dk izhkko gkykfd izkir ugh gs] oklrfod gksxka by lw hve been kept by the Compny so fr s it ppers from our exmintion of those books. 6.3) The Blnce Sheet, Sttement of Profit nd Loss nd Csh Flow Sttement delt with by this report re in greement with the books of ccount. 6.4) In our opinion, except s determined in Pr 5.2, 5.3(d), 5.4,5.9, 5.10, & 5.11 bove, the Blnce Sheet nd Sttement of Profit nd Loss delt with by this report comply with the Accounting Stndrds referred to in sub-section 3(C) of Section 211 of Compnies Act, ) The Centrl Government hs directed vide notifiction no G.S.R.829(E), dted tht cluse (g) of sub-section(1) of section 274 of the Compnies Act, 1956 is not pplicble to Government Compny. 6.6) In our opinion nd to the best of our informtion nd ccording to the explntions given to us:- i) The extent of the overll effect of the mtter reported under Pr 5.12 on nnexed sttements though not scertinble would be mteril. ii½ mi;q ZDr isjk 6-6¼i½ es gekjh fvii.kh ds vèkhu ys[kk fviif.k;ks ds lkfk ifbr lyxu ys[kks ds vuqlkj diuh vf/kfu;e] 1956 }kjk visf{kr lwpuk nsrh gs rfkk Hkkjr es lkeku;r;k LohÑr ys[kkdu fl)krks ds vuq:i lgh vksj mfpr n`f"vdks.k iznku djrh gsa ii) Subject to our observtion in Pr 6.6(i) bove, the nnexed ccounts, red with the notes on ccounts, gives the informtion required by the Compnies Act, 1956 in the mnner so required nd gives true nd fir view in conformity with the ccounting principles generlly ccepted in Indi. d½ [k½ 31 ekpz 2012 dh flfkfr ds vuqlkj deiuh ds dk;kz dh flfkfr ls lcf/kr rqyu&i= ds ekeys es A ml rkjh[k dks lekir o"kz dh deiuh ) In the cse of Blnce Sheet of the stte of ffirs of the Compny s t 31st Mrch, 2012; b) In the cse of the Sttement of 100

103 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm x½ LFkku % ubz fnyyh 24 flrcj] 2012 dh gkfu ds ykhk gkfu [kkrs ds ekeys es ( vksj ml rkjh[k dks lekir o"kz ds fy, udn izokgks ds udn izokg fooj.k ds ekeys es A Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj ¼,Qvkj l bZ½ glrk0@& ¼xksiky pks/kjh½ Hkkxhnkj lnl;rk l Profit nd Loss of the Loss of the Compny for the yer ended on tht dte; nd c) In the cse of the Csh Flow Sttement of the csh flows for the yer ended on tht dte. For G. CHOUDHURY & ASSOCIATES CHARTERED ACCOUNTANTS (Firm Regn No E) Sd/- (GOPAL CHOUDHURY) PARTNER Membership No Plce : New Delhi The 24th dy of September,

104 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ys[kk ijh{kdks dh fjiksvz dk vuqyxud lel[;d rkjh[k dh gekjh fjiksvz ds isjk&3 dk lnhkz ys,slh tkp ds vk/kkj ij] tks gekjs fopkj es mi;qdr gs vksj ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj gs] ge myys[k djrs g S fd%& i½ ii½ fu;r ifjlifrr;ks ds lc/k es % ¼d½ diuh us vke rksj ij viuh LFkk;h ifjleifrr;ks ds ek=kred fooj.kks vksj voflfkfr lfgr iwjs fooj.k n'kkzus ds fy, leqfpr fjdkmz j[ks gsa ¼[k½ tslk fd izc/ku }kjk myys[k fd;k x;k gs] o"kz ds vr e s fu;r ifjlifrr;ks dk HkkSfrd lr;kiu fd;k x;k gsa ge ;g fvii.kh Hkh djus es vlefkz gs fd D;k,sls HkkSfrd lr;kiu ij dksbz lkexzh vfu;ferrk ikbz xbz Fkh vksj D;k mldk cgh [kkrks ds vuqlkj mfpr :i ls fuivku fd;k x;k FkkA ¼x½ diuh us Hkfo"; es cus jgus dh viuh flfkfr dks izekf.kr djus ds fy, viuh fu;r ifjlifrr;ks ds fdlh Ik;kZIr Hkkx dk fuivku ugh fd;k gsa ekx lwph ds lc/k es % ¼d½ tslk fd ges crk;k x;k gs izc/ku }kjk o"kz ds nksjku eky&lwph dk oklrfod lr;kiu fd;k x;k FkkA ¼[k½ gekjs er es ] vksj ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj diuh }kjk fd, x, eky&lwph ds oklrfod lr;kiu] tgk &dgh,slk lr;kiu djk;k x;k Fkk] dh izfø;k diuh ds vkdkj vksj blds O;olk; dh izñfr ds lc/k es rdzlxr ikbz xbz FkhA ¼x½ gekjs fopkj es vksj ges nh xbz lwpuk ds vuqlkj diuh us viuh eky&lwph dk mfpr fjdkmz j[kk x;k gsa cgh [kkrks dh rqyuk es ekx&lwph ds HkkSfrd lr;kiu es vfu;ferrk, ANNEXURE TO AUDITOR'S REPORT Referred to in Prgrph 3 of our report of even dte On the bsis of such checks s we considered pproprite nd in terms of the informtion nd explntions given to us, we stte tht:- i) In respect of Fixed Assets : () (b) (c) The Compny hs generlly mintined proper records showing full prticulrs including quntittive detils nd sitution of its fixed ssets. As stted by the mngement, fixed ssets hve been physiclly verified t the yer end. We re lso unble to comment if ny mteril discrepncies were noticed on such physicl verifiction nd whether they hve been properly delt with in the books of ccounts. The Compny hs not disposed off ny substntil prt of it's fixed ssets so s to ffect its going concern sttus. ii) In respect of Inventories : () (b) (c) As explined to us, inventories were physiclly verified during the yer by the mngement. In our opinion nd ccording to the informtion nd explntions given to us, the procedures of physicl verifiction of inventories followed by the mngement were resonble nd dequte in reltion to the size of the compny nd the nture of it's business. In our opinion nd ccording to the informtion nd explntion given to us, the compny hs mintined proper 102

105 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ns[kh xbz Fkh vksj budk cgh [kkrks ds lkfk mfpr :i ls fuivku fd;k x;k gsa records of it's inventory. Discrepncies were noticed on physicl verifiction of inventory s compred to book records nd the sme hs been properly delt with in books of ccounts. iii½ diuh us diuh vf/kfu;e] 1956 dh /kkjk 301 ds vrxzr j[ks x, jftlvj es 'kkfey difu;ks ] Qeks ;k vu; ikfvz;ks dks u rks dksbz _.k] jf{kr ;k vjf{kr fn;k gs vksj u gh fy;k gsa rnuqlkj] diuh ¼ys[kk&ijh{kd fjiksvz½ vkns'k] 2003 ds [k.m ¼iii½¼d½ ls ¼iii½¼N½ ds,sls izko/kku diuh ij ykxw ugh gksrsa iii) The Compny hs neither grnted nor tken ny lons, secured or unsecured from compnies, firms or other prties covered in the register mintined u/s 301 of the Compnies Act, Accordingly, the provisions of cluse (iii) () to (iii) (g) of Compnies (Auditor's Report) Order, 2003 re not pplicble to the Compny. iv½ gekjs fopkj es vksj ges nh xbz lwpuk ds vuqlkj eky&lwph rfkk fu;r ifjlifrr;ks dh [kjhn vksj olrqvks dh fcøh ds lc/k es diuh ds vkdkj vksj blds O;oLkk; dh izñfr ds vuqlkj lkeku;r% i;kzir vkrfjd fu;=.k dh izfø;k ekstwn gsa iv) In our opinion nd ccording to the informtion nd explntions given to us, there re generlly dequte internl control procedures commensurte with the size of the compny nd the nture of its business with regrd to purchse of inventory nd fixed ssets nd for sle of goods. v½ diuh vf/kfu;e] 1956 dh /kkjk 301 es mfyyf[kr lfonkvks ;k O;oLFkk ds lc/k es % v) In respect of the contrcts or rrngements referred to in Section 301 of the Compnies Act, 1956: ¼d½ gekjs }kjk fu"ikfnr ys[kk&ijh{kk izfø;kvks ds vk/kkj ij vksj ges nh xbz lwpuk] Li"Vhdj.k vksj vh;kosnu ds vuqlkj diuh us dksbz Bsdk ;k O;oLFkk ugh dh gs ftls diuh vf/kfu;e] 1956 dh /kkjk 301 ds vrxzr j[ks x, jftlvj es ntz djuk gksrk gsa ¼[k½ pw fd dksbz vuqc/k ;k O;oLFkk ugh dh xbz gsa vr% vkns'k ds [k.m ¼v½¼[k½ ds izko/kku diuh ij ykxw ugh gksrsa () (b) On the bsis of the udit procedures performed by us nd ccording to the informtion, explntions nd representtions given to us, the compny hs not mde ny contrcts or rrngements tht need to be entered into the register mintined under section 301 of the Compnies Act, As no contrcts or rrngements hve been mde, the provisions of cluse (v) (b) of the Order re not pplicble to the compny. vi½ diuh us diuh vf/kfu;e 1956 dh /kkjk 58d] 58dd ;k vu; fdlh lxr izko/kku vksj mlds vrxzr cuk, x, fu;eks ds vuqlj.k es turk ls vi) The Compny hs not ccepted ny deposit from the public pursunt to sections 58A, 58AA or ny other relevnt provisions of the 103

106 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm vii½ dksbz tek jkf'k Lohdkj ugh dh gsa blfy, vkns'k ds [k.m ¼vi½ ds izko/kku diuh ij ykxw ugh gksrsa gekjs fopkj es diuh es mlds vkdkj rfkk mlds O;olk; dh izñfr ds vuq:i i;kzir vkrfjd ys[kk&ijh{kk iz.kkyh gsa viii½ geus Hkkjrh; l?k ljdkj }kjk cuk, x, fu;eks ds vuqlj.k es diuh }kjk j[ks x, cgh [kkrks dh O;kid rksj ij leh{kk dh gs ftlds fy, diuh vf/kfu;e 1956 dh /kkjk 209 dh mi&/kkjk ¼1½ ds [k.m ¼?k½ ds vrxzr ykxr fjdkmks dk vuqj{k.k fu/kkzfjr fd;k x;k gs vksj gekjk er gs fd izfke n`"v;k fu/kkzfjr ys[kk vksj fjdkmz j[ks x, gsa rfkkfi] geus bu fjdkmks dk lgh ;k iw.kzr% dh n`f"v ls irk yxkus ds fy, folr`r tkp ugh dh gsa vii) viii) Compnies Act 1956 nd rules frmed there under. Therefore, the provisions of cluse (vi) of the Order re not pplicble to the Compny. In our opinion, the compny hs internl udit system commensurte with the size nd nture of its business. We hve brodly reviewed the books of ccounts mintined by the compny pursunt to the order mde by the Centrl Government of Indi for the mintennce of cost records under cluse (d) of sub-section (1) of section 209 of the Compnies Act, 1956 nd re of the opinion tht prim fcie, the prescribed ccounts nd records hve been mintined. We hve not, however, crried out detiled exmintion of the records to scertin whether they re ccurte or complete. ix½ lkfof/kd cdk;k ns;rk ds lc/k es % ix) In respect of sttutory dues: ¼d½ diuh o"kz ds nksjku mi;qdrk izkf/kdkfj;ks dks fu;fer :i ls Hkfo"; fuf/k] fuos'kd f'k{kk vksj lqj{kk fuf/k] dezpkjh jkt; chek] vk;dj] fcøh dj] lifrr dj] lsok dj] lhek 'kqyd] mrikn 'kqyd vksj mi&dj lfgr vfookfnr lkfof/kd cdk;k fu;fer :i ls tek djk jgh gsa ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj 31 ekpz] 2012 rd Hkqxrku dh tkus okyh jkf'k dh rkjh[k ls N% ekg ls vf/kd dh vof/k ds fy, mi;q ZDr ns;rkvks ds lc/k es dksbz ns; jkf'k fookfnr ugh gsa () The Compny hs been regulr in depositing undisputed sttutory dues including Provident fund, Investor Eduction nd Protection Fund, Income Tx, Sles Tx, Welth Tx, Service Tx, Custom Duty, Excise Duty, Cess nd other sttutory dues with the pproprite uthorities during the yer. According to the informtion nd explntions given to us, no undisputed mount pyble in respect of the foresid dues were outstnding s t Mrch 31, 2012 for period of more thn six months from the dte of becoming pyble. ¼[k½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj fcøh dj] vk;dj] lifrr dj] lsok dj] mrikn 'kqyd] mi&dj ds lc/k es dksbz ns;rk ugh gs ftls fdlh fookn ds dkj.k tek u djk;k x;k gksa (b) According to the informtion nd explntions given to us, there re no dues of Sles Tx, Income Tx, Welth Tx, Service Tx, Excise Duty nd Cess which hve not been deposited on ccount of ny dispute. 104

107 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm Ø- lkfof/kd dk ns;rkvks dh jkf'k vof/k ftlls Qksje tgk fookn l- uke izñfr ¼$ yk[k es½ jkf'k lcf/kr gs yfcr gs Sl. Nme of the Nture of the Amount Period to which Forum where No. Sttue dues ($ in lcs) mount reltes dispute is pending 1- fcøh dj vf/kfu;e] fcøh 0-34 forrh; o"kz lgk;d vk;qdr] fcgkj osv dj 2006&07 okf.kft;d dj] ivuk 1. Sles Tx Act, Sles Tx/ 0.34 Finncil yer Asstt Commissioner, Bihr Vt Tx Commercil Txes, Ptn x½ forrh; o"kz ds vr rd diuh dh lfpr gkfu blds fuoy ewy; ds ipkl izfr'kr ls vf/kd gs vksj bls pkyw forrh; o"kz vksj blls rrdky iwoz forrh; o"kz es Hkh udn gkfu gqbz gsa x) The ccumulted loss of the Compny t the end of the finncil yer exceeds fifty percent of its net worth nd the compny hs incurred csh losses in the current finncil yer nd lso in the immeditely preceding finncil yer. xi½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj rfkk ges fn, x, nlrkostks vksj fjdkmks ds vk/kkj ij Hkkjr ljdkj ls fy, x, _.k dks NksM+dj diuh us forrh; llfkku ;k csd dh nsunkfj;ks ds Hkqxrku es dksbz pwd ugh dh gsa blds vykok] diuh us fmcs pjks ds tfj, dksbz m/kkj ugh fy;k gsa xi) According to the informtion nd explntions given to us nd bsed on the documents nd records produced to us, the compny hs not defulted in pyment of dues to the Finncil Institution or Bnks. Further, the compny hs not obtined ny borrowings by wy of debentures. xii½ diuh us 'ks;jks ] fmcs pjks vksj vu; izfrhkwfr;ks dh 'kifk }kjk izfrhkwfr ds vk/kkj ij dksbz _.k vksj vfxze iznku ugh fd;k gsa xii) The Compny hs not grnted ny lons nd dvnces on the bsis of security by wy of pledge of shres, debentures nd other securities. xiii½ diuh dksbz fpv QM@fuf/k@ijLij ykhk fufèk@lkslk;vh ugh gs] blfy, diuh ¼ys[kk&ijh{kd dh fjiksvz½ vkns'k] 2003 ds [k.m 4¼xiii½ ds izkoèkku diuh ij ykxw ugh gksrsa xiv½ gekjs fopkj es diuh 'ks;jks ] izfrhkwfr;ks ] fmcs pjks vksj vu; fuos'k es ysunsu ;k O;kikj ugh dj jgh gs D;ks fd diuh ¼ys[kk&ijh{kd dh fjiksvz½ ds [k.m 4¼xiv½ ds,sls izko/kku diuh ij ykxw xiii) xiv) The compny is not chit fund / nidhi / mutul benefit fund / society. Therefore, the provisions of cluse 4(xiii) of the Compnies (Auditor's Report) Order, 2003 re not pplicble to the compny. In our opinion, the compny is not deling in or trding in shres, securities, debentures nd other investments s such provisions of cluse 4(xiv) of the Compnies (Auditor's 105

108 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ugh gksrsa Report) Order, 2003 re not pplicble to the Compny. xv½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj diuh us csd ;k forrh; llfkkuks ls vu; }kjk fy, x, _.k ds fy, dksbz xkjvh ugh nh gsa xv) According to the informtion nd explntions given to us nd the representtions mde by the mngement, the Compny hs not given ny gurntee for lons tken by others from ny bnk or finncil institution. xvi½ diuh ij finys forrh; o"kz ds 'kq: es Hkkjr ljdkj dk 52]691 yk[k #i, ¼fiNys o"kz 48]191 yk[k #i,½ ¼ewy?kVd½ dk cdk;k vkof/kd _.k FkkA diuh dks orzeku forrh; o"kz ds nksjku Hkkjr ljdkj ls 6]780 yk[k #i, ¼fiNys o"kz 4]500 yk[k #i,½ izkir gq, Fks ftles ls 48]956 yk[k #i, ¼fiNys o"kz 43]075 yk[k #i,½ djksm+ #i, mfyykf[kr iz;kstu ij blrseky fd, tk pqds gs vksj 105]15 yk[k #i, ¼fiNys o"kz 9]616 yk[k #i,½ dh cdk;k jkf'k dks csd es vkof/kd tek jkf'k ds :i es mi;ksx djus ds fy, j[kk x;k gsa xvi) The compny hd n outstnding Term Lon from Government of Indi mounting to $ 52,691 lcs (Previous yer $ 48,191 lcs) (principl component) t the beginning of the finncil yer. The compny further received term lon of $ 6,780 lcs (Previous yer $ 4,500 lcs) from Government of Indi during current finncil yer out of which $ 48,956 lcs (Previous yer $ 43,075 lcs) hs been utilized for the stted purpose nd blnce mount of $ 105,15 lcs (Previous yer $ 9,616 lcs) pending for utiliztion hs been kept s Term Deposits with bnk. xvii½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj rfkk diuh ds rqyu&i= dh lexz tkp djus ds ckn ge fjiksvz djrs gs fd nh?kkzof/k fuos'k ds fy, vyikof/k vk/kkj ij dksbz fuf/k;k ugh tqvkbz xbz gsa xviii½ o"kz ds nksjku diuh us diuh vf/kfu;e] 1956 dh /kkjk 301 ds vrxzr j[ks x, jftlvj es 'kkfey ikfvz;ks vksj difu;ks dk dksbz vf/keku vkcvu ugh fd;k gsa xvii) According to the informtion nd explntions given to us nd on n overll exmintion of the Finncil Sttements of the Compny, we report tht no funds rised on short term bsis hve been used for long term investment. xviii) During the yer, the compny hs not mde preferentil llotment of shres to prties nd compnies covered in the register mintined under Section 301 of the Compnies Act, xix½ diuh us ys[kk&ijh{kk o"kz ds nksjku dksbz fmcs pj tkjh ugh fd, gsa blfy,] diuh ij diuh ¼ys[kk&ijh{kd fjiksvz½ vkns'k 2003 ds [km 4¼xix½ ds izko/kku ykxw ugh gksrsa xix) On the bsis of the records nd documents exmined by us, the Compny hs not issued ny debentures during the yer. Therefore the provisions of cluse 4(xix) of the Compnies (Auditor's Report) Order, 2003 re not pplicble to the Compny. xx½ diuh us o"kz ds nksjku ifcyd b';w }kjk dksbz èkujkf'k ugh tqvkbz gsa xx) The compny hs not rised ny money by public issue during the yer. 106

109 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm xxi½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj o"kz ds nksjku diuh ds /;ku es dksbz /kks[kk/km+h ugh gqbz gsa Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj QeZ ith- l bZ ¼xksiky pks/kjh½ Hkkxhnkj lnl;rk l xxi) According to the informtion nd explntions given to us nd to the best of our knowledge nd belief no frud on or by the Compny hs been noticed or reported during the yer. For G. CHOUDHURY & ASSOCIATES CHARTERED ACCOUNTANTS Firm Regn No E Sd/- GOPAL CHOUDHURY PARTNER M. NO LFkku % ubz fnyyh fnukd % 24 flrcj] 2012 Plce : New Delhi Dte : The 24th dy of September,

110 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 31 ekpz 2012 dks lekir o"kz ds fy, czg~eiq= osyh QfVZykbtj dkwikszjs'ku fyfevsm ds ys[kkvks ij diuh vf/kfu;e] 1956 dh /kkjk 619¼4½ ds vrxzr Hkkjr ds fu;=d vksj egkys[kkijh{kd dh fviif.k;k diuh vf/kfu;e] 1956 ds vrxzr fu/kkzfjr forrh; fjiksfvz x <kps ds vuqlkj 31 ekpz 2012 dks lekir o"kz ds fy, czg~eiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm dk forrh; fooj.k rs;kj djus dh fteesnkjh diuh ds izcèku dh gsa diuh vf/kfu;e] 1956 dh /kkjk 619¼2½ ds vrxzr Hkkjr ds fu;=d vksj egkys[kk ijh{kd }kjk fu;qdr lkfof/kd ys[kk&ijh{kd diuh vf/kfu;e] 1956 dh /kkjk 227 ds vrxzr bu forrh; fooj.kks ij er O;Dr djus ds fy, fteesnkj gksrs gs] tks blvhv~;wv vkwq pkvzmz,dkmvs V~l vkwq bfm;k uked vius O;kolkf;d fudk; ds fu/kkzfjr ys[kk vksj vk'oklu ekun.mks ds vuqlkj Lor= ys[kk&ijh{kk ij vk/kkfjr gksrs g SA ;g fnukd dh mudh ys[kk&ijh{kk fjiksvz }kjk fd;k x;k gsa esus] Hkkjr ds fu;=d vksj egkys[kkdkj dh vksj ls 31 ekpz 2012 dks lekir o"kz ds fy, czg~eiq= osyh QfVZykbtj dkwiks Zjs'ku fyfevsm ds forrh; fooj.kks dh diuh vf/kfu;e] 1956 dh /kkjk 619¼3½ ¼[k½ ds vrxzr vuqiwjd ys[kk&ijh{kk dh gsa vuqiwjd ys[kk&ijh{kk lkfofèkd ys[kk&ijh{kdks ds dk;z'khy dkxtkr ds fcuk Lor= :i ls dh xbz gs vksj ;g eq[; :i ls lkfofèkd ys[kk&ijh{kdks vksj diuh dkfezdks dh tkp rfkk dqn ys[kk vfhkys[kks dh p;fur tkp rd gh lhfer gsa viuh vuqiwjd ys[kk&ijh{kk ds vk/kkj ij es diuh vf/kfu;e] 1956 dh /kkjk 619¼4½ ds vrxzr fueufyf[kr egroiw.kz ekeys dks mtkxj djuk pkgw xk] tks esjs /;ku es vkbz COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 619(4) OF THE COMPANIES ACT, 1956 ON THE ACCOUNTS OF BRAHMAPUTRA VALLEY FERTILIZER CORPORATION LIMITED FOR THE YEAR ENDED 31 MARCH 2012 The preprtion of finncil sttements of Brhmputr Vlley Fertilizer Corportion Limited for the yer ended 31 Mrch 2012 in ccordnce with the finncil reporting frmework prescribed under the Compnies Act, 1956 is the responsibility of the mngement of the compny. The sttutory uditors ppointed by the Comptroller nd Auditor Generl of Indi under Section 619(2) of the Compnies Act, 1956 is responsible for expressing opinion on these finncil sttements under section 227 of the Compnies Act, 1956 bsed on independent udit in ccordnce with the uditing nd ssurnce stndrds prescribed by their professionl body the Institute of Chrtered Accountnts of Indi. This is stted to hve been done by them vide their Audit Report dted I, on behlf of the Comptroller nd Auditor Generl of Indi, hve conducted supplementry udit under section 619(3) of the Compnies Act, 1956 of the finncil sttements of Brhmputr Vlley Fertilizer Corportion Limited for the yer ended 31 Mrch This supplementry udit hs been crried out independently without ccess to the working ppers of the sttutory uditors nd is limited primrily to inquiries of the sttutory uditors nd compny personnel nd selective exmintion of some of the ccounting records. On the bsis of my udit nothing significnt hs come to my 108

111 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm gs vksj tks esjs fopkj es forrh; fooj.k rfkk lcf/kr ys[kk&ijh{kk fjiksvz dks csgrj <x ls le>us ds fy, vko';d gsa fu;=d vksj egkys[kk ijh{kd ds fy, vksj mudh vksj ls ¼;'kksèkjk jkw; pksèkjh½ iz/kku funs'kd] okf.kft;d ys[kk&ijh{kk vksj insu lnl;] ys[kk&ijh{kk cksmz-ii dksydkrk dksydkrk fnukd% knowledge which would give rise to ny comment upon or supplement to Sttutory Auditor's report under section 619(4) of the Compnies Act, For nd on behlf of the Comptroller & Auditor Generl of Indi Sd/- (Yshodhr Ry Chudhuri) Principl Director of Commercil Audit & Ex-Officio Member, Audit Bord-II Kolkt Kolkt Dted:

112 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm forrh; o"kz 2011&12 ds fy, ys[kk&ijh{kk fjiksvz ij izc/ku ds mrrj REPLIES OF THE MANAGEMENT ON AUDIT REPORT FOR THE FINANCIAL YEAR iz'u Queries izc/ku ds mrrj Mngement Replies 1- geus czg~eiq= osyh QfVZykbtj dkwikszjs'ku fyfevsm] uke:i ds 31 ekpz] 2012 rd ds lyxu rqyu&i=] ykhk vksj gkfu ys[kk rfkk ml rkjh[k dks lekir o"kz ds udn izokg fooj.k dh ys[kk&ijh{kk dh gs] ftlds lkfk nksuks lyxu gsa ;s forrh; fooj.k diuh ds izc/ku dk mrrjnkf;ro gsa gekjh fteesnkjh viuh ys[kk&ijh{kk ds vk/kkj ij bu forrh; fooj.kks ij jk; O;Dr djuk gsa 1. We hve udited the ttched Blnce Sheet of BRAHMAPUTRA VALLEY FERTILIZER CORPORATION LIMITED s t 31st Mrch, 2012, the Sttement of Profit nd Loss nd the Csh Flow Sttement for the yer ended on tht dte, nnexed thereto. These finncil sttements re the responsibility of the compny's mngement. Our responsibility is to express n opinion on these finncil sttements bsed on our udit. 2- geus Hkkjr es lkeku;r;k LohÑr ys[kk&ijh{kk ekudks ds vuqlkj viuh ys[kk&ijh{kk dh gsa bu ekudks ds vrxzr ;g vis{kk dh tkrh gs fd ge mi;qdr vk'oklu izkir djus ds fy, ;kstuk cuk, vksj ys[kk&ijh{kk djs rkfd mi;qdr vk'oklu izkir dj lds fd D;k forrh; fooj.k lkexzh voklrfod rks ugh gsa ys[kk&ijh{kk es ijh{k.k ds vk/kkj ij tkp djuk] forrh; fooj.kks es jkf'k vksj [kqykls dh iqf"v djus okys lk{; 'kkfey gsa ys[kk&ijh{kk es iz;qdr ys[kkdu fl)krks dk vkdyu djuk rfkk izc/ku }kjk yxk, x, egroiw.kz vuqekuks rfkk forrh; fooj.kks dh lexz izlrqfr dk ewy;kdu djuk 'kkfey gsa ge le>rs gs fd gekjh ys[kk&ijh{kk gekjs er ds fy, mi;qdr vk/kkj miyc/k djk,xha 110

113 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 2. We conducted our udit in ccordnce with uditing stndrds generlly ccepted in Indi. Those stndrds require tht we pln nd perform the udit to obtin resonble ssurnce bout whether the finncil sttements re free of mteril missttement. An udit includes, exmining on test bsis, evidence supporting the mounts nd disclosures in the finncil sttements. An udit lso includes ssessing the ccounting principles used nd significnt estimtes mde by mngement, s well s evluting the overll presenttion of the finncil sttements. We believe tht our udit provides resonble bsis for our opinion. 3- diuh vf/kfu;e] 1956 dh /kkjk 227 ¼4d½ ds vuq:i Hkkjr l?k ljdkj }kjk tkjh diuh ¼ys[kk&ijh{kd fjiksvz½ vkns'k] 2003 dh vis{kkuqlkj vksj,slh tkp ds vk/kkj ij tslk fd geus mi;qdr le>k gs vksj ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj ge vuqyxud ds lkfk mdr vkns'k ds isjk 4 vksj 5 es fofufnz"v ekeyks ij,d fooj.k lyxu djrs gsa 3. As required by the Compnies (Auditor's Report) Order, 2003 issued by the Centrl Government of Indi in terms of Section 227(4A) of the Compnies Act, 1956 nd on the bsis of such checks s we considered pproprite nd ccording to the informtion nd explntions given to us, we set out in the Annexure, sttement on the mtters specified in the Pr 4 nd 5 of the foresid Order. 4- fueufyf[kr ij /;ku vkñ"v fd;k tkrk gs% 4. Attention to the following is invited: 4-1½ pw fd dks lekir forrh; o"kz ds vr es 77] yk[k #i, dh lfpr gkfu mlds fuoy ewy; ls ipkl izfr'kr vf/kd Fkh] vr% diuh vf/kfu;e 1956 dh /kkjk 2¼46 dd½ ds vuqlkj diuh #X.k vks ksfxd miøe ds {ks=kf/kdkj es vk xbz gsa diuh dks Hkkjr ljdkj ds vuqeksnu gsrq flqkfj'k dk izlrko Hkstus ls igys vkffkzd ekeyks lc/kh ef=emy lfefr }kjk choh,qlh,y ds iw thxr iquxzbu ds izlrko ij yksd {ks= m e iquxzbu cksmz ¼chvkjih,lbZ½ dks Hkstk x;k FkkA 111

114 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 4.1) Since ccumulted losses of $ 77, lcs t the end of the finncil yer ending on exceeds fifty percent of its net worth, the compny comes within the purview of Sick Industril Undertking s per section 2(46AA) of the Compnies Act, ½ diuh dh ;g uhfr gs fd ftl rkjh[k ls fdlh ifjlifrr dk blrseky fd;k tkrk gs] mls mlh rkjh[k ls i wthxr ekuk tk,a pkyw i wthxr dk;z ¼fVIi.kh 2-8½ es 2] yk[k #i, ¼fiNyk yk[k #i,½ ewy; ds i wthxr Hk.Mkj@midj.k 'kkfey gs] ftug s ; fi [kjhn fy;k x;k gs fdrq vhkh tkjh ugh fd;k x;k gsa iw thxr midj.kk s dks muds blrseky dh rkjh[k ls i wthxr ekuk tk,xka 4.2) It is the policy of the compny to cpitlize n sset from the dte it is put to use. Cpitl work in progress (Note 2.8) includes cpitl stores / equipments worth $ 2, (Previous yer $ 2, lcs) which though purchsed re not yet issued. These cpitl stores / equipments will be cpitlized when these will be put to use. 4-3½ diuh ds funs'kd emy dh 63oh csbd es 31 ekpz] 2012 dks lekir forrh; o"kz ds fy, diuh ds okf"kzd ys[kkvks ij dks vuqeksfnr fd;k x;k FkkA diuh us Vkbi lc/kh dqn =qfv;ks vksj iw.kkz fdr vrj es lq/kkj djus ds fy, mi;q ZDr vuqlkj vius forrh; fooj.kks es l'kks/ku fd;k gs rkfd iqjkus HkMkjks vksj vfrfjdr iqtks ¼vpy½ ds izko/kku ds lc/k es ys[kkdu uhfr dk [kqyklk fd;k tk lds rfkk forrh; fooj.kks dh fvii.kh l es myys[k fd, x, vuqlkj iw th [kkrs es Bsdks dks fu"ikfnr fd, tkus ds lc/k es vkdfled ns;rk dk [kqyklk fd;k tk ldsa diuh us cksmz dh 64oh csbd es,sls l'kksf/kr forrh; fooj.k dks 24 flrcj] 2012 dks vuqeksfnr dj fn;k gs vksj ge l'kksfèkr forrh; fooj.kks ds lc/k es ys[kk&ijh{kk fjiksvz tkjh dj jgs gsa 4.3) The Finncil Sttements of the Compny s The Compny ws referred to the Bord for Restructuring of Public Sector Enterprises (BRPSE) on the proposl of Cpitl Restructuring of BVFCL by Cbinet Committee on economics ffirs before the proposl is recommended for pprovl of GoI. oklrfod fooj.ka rfkkfi] veksfu;k l;=&a ds fy, 2] yk[k #i, ds lq/kkj izko/kku es ls yk[k #i, dk izko/kku fd;k x;k gs rfkk dks iw th ds :i es 1] yk[k #i, dh cdk;k jkf'k im+h gsa Sttement of fct. However Out of $ 2, lcs provision of impirment relting to Ammoni Plnt-I mde for $ lcs nd blnce mount $ 1, lcs lying s cpitl stores/equipments s on oklrfod fooj.ka Sttement of Fcts. 112

115 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm t nd for the yer ended 31st Mrch, 2012 were pproved in the 63rd meeting of the bord of directors of the compny on 30th August, The compny hs revised it's finncil sttements s bove in order to rectify certin typogrphicl errors nd rounding off differences, to disclose ccounting policy relting to provision for obsolescence on stores nd spres (non moving) nd to disclose contingent libility in respect of contrcts remining to be executed on cpitl ccount s stted in Note No to finncil sttements. The compny hs pproved such revised finncil sttements in their 64th Bord Meeting on 24th September, 2012 nd we re issuing this udit report in reltion to the revised finncil sttements. 5- Åij mfyyf[kr vuqyxud es dh xbz gekjh fviif.k;ks ds vkxs ge fjiksvz djrs gs fd% 5. Further to our comments in the Annexure referred to bove, we report tht : 5-1½ jktlgk;rk nkos% diuh us forrh; o"kz 2011&12 ds fy, fd, x, nkos ds vk/kkj ij x.kuk dh xbz 2] yk[k #i, ¼fiNyk o"kz 1] yk[k #i,½ ds c<s + gq, ewy; dh jkf'k ¼jktlgk;rk½ dk ys[kk&tks[kk j[kk gsa,sls nkoks dk vfre fuivku gksus rd] blls im+us okyk dksbz izhkko] ;fn dksbz gks] rks og vizki; gs ¼ns[ks uksv 2-16 dk?k½a 5.1) Subsidy Clims: The compny hs ccounted for Escltion Price (Subsidy) mounting to $ 2, (previous yer $ 1, lcs on clim lodged bsis for the finncil yer Pending finl settlement of such clims, the effect rising out of this, if ny, is unscertinble. {Refer D of Note 2.16}. 5-2 mriz sjdks dk ys[kkdu% diuh us,qvkbzlhlh }kjk eku;rkizkir mriz sjd dh ;g fvii.kh u- 1 es mn~?kkfvr diuh dh ys[kkdu uhfr ds vuqlkj gsa bls i;kzir :i ls 2-16 dh fvii.kh?k es n'kkz;k x;k gsa This is s per Accounting policy of the compny disclosed in Note No. 1. This hs lso dequtely disclosed in Notes D of ;g diuh dh ys[kkdu uhfr ds vuqlkj gs ¼fVIi.kh 1 113

116 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ykxr ds mipkj ds lkfk lekurk cuk, j[kus ds fy, vklfkfxr jktlo O;; ds :i es mriz sjd dh [kir gsrq [kpz dh xbz jkf'k dk ys[kkdu fd;k gsa ¼ns[ks fvii.kh 1 dk ¼1½ rfkk fvii.kh 2-10½] tks vkbzlh,vkbz }kjk tkjh ys[kkdu ekud 26 dk myy?ku gsa 5.2) Accounting of Ctlyst: The compny hs ccounted for the cost incurred for consumption of ctlyst s deferred revenue expenditure to keep prity with the tretment of cost of ctlyst recognized by FICC. (Refer (I) of Note 1 nd Note 2.10), which is in violtion of Accounting Stndrd 26 issued by the ICAI. dk ¼1½ vksj fvii.kh 2-10 ns[ks ½ This is s per Accounting policy of the compny [Refer (I) of Note of 1 nd Note 2.10] 5-3½ fu;r ifjleifrr% 5.3) Fixed Assets: d½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj diuh ds ikl yxhkx 2797 ch?kk Hkwfe gs vksj ekuuh; xqokgkvh mpp U;k;ky; ds funs Z'kks ds vuqlkj Hkwfe dk lhekdu fd;k tk jgk gsa tslk fd myys[k fd;k x;k gs dkiks Zjs'ku ds Hkw&vfHkys[kks dk jkt; ljdkj ds vfhkys[kks ds lkfk iqu% lek;kstu fd;k tk jgk gsa ) According to the informtion nd explntions given to us, the compny possesses lnd mesuring round 2797 bighs nd the demrction of lnd is under process s per the directives of Hon'ble High Court of Guhti. As stted, the lnd records of the Corportion re lso being reconciled with the records of the Stte Government. [k½ ge vufre ykxr ij cqd dh xbz Hkwfe rfkk iw thdj.k ij im+us okys blds ifj.kkeh izhkko ds lc/k es fu;r ifjlifrr;ks dh vuqlwph fvii.kh 2-8 dk 2¼d½ dh vksj /;ku vkdf"kzr djrs gsa b) We further invite ttention to 2() of Note 2.8 of Fixed Assets, with regrd to lnd booked t provisionl cost nd it's consequentil effect on Cpitliztion. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. 114

117 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm x½,qvkbzlhlh dh ewy;&fu/kkzj.k uhfr ds lkfk&lkfk esllz ihmhvkbz,y dh ifj;kstuk lhkko;rk fjiksvz ds lkfk lekurk n'kkzrs gq, l;= vksj e'khujh ds fy, 5-28% ds LFkku ij 6-33% dh mpp nj ls ewy; gzkl olwy fd;k x;k gs ftlls o"kz dh gkfu yk[k #i, c<+h gss vksj forrh; o"kz 2002&03 ds ckn 4] yk[k #i, dh lp;h gkfu dk izhkko imk gsa c) Deprecition on Plnt & Mchinery (Revmp) is being 6.33% ginst 5.28% s per Compnies Act, 1956 to keep prity with the FICC pricing policy s well s the project fesibility report of M/s. PDIL which hs the effect of incresing the loss for the yer by $ lcs nd cumultive effect to the extent of loss of $ 4, lcs from F.Y onwrds.?k½ o"kz ds nksjku diuh us 'kh"kz l;= vksj e'khujh ds vrxzr 4] yk[k #i, dk iw thdj.k fd;k gs] ftles ls vf/kdk'k dh O;kid ejeer vksj uohdj.k dh tkuh gs ;k cnyk tkuk gsa diuh us,slh cnyh tkus okyh enks ds ewy; dks cv~vs [kkrs es ugh Mkyk gs@gzkl ugh fd;k gsa rfkkfi] fu;r ifjlifrr;ks ij ys[kkdu ekud 10 ds vuqlkj ekstwnk fu;r ifjlifrr;ks es vkxs iw thdj.k dh rhkh vuqefr nh tkrh gs ;fn fu;r ifjlifrr;ks ls lhkkfor Hkkoh ykhk igys ls ewy;kfdr ekud fu"iknu ls c<+ tk,a Ik;kZIr@rduhdh lwpuk ds vhkko es ge ;g fvii.kh djus es vlefkz gs fd D;k l;= vksj e'khujh es diuh }kjk fd;k x;k i wthdj.k ys[kkdu ekud 10 ds vuqlkj gsa d) During the yer, Compny hs cpitlized $ 4, lcs under the hed plnt nd mchinery, most of which re in the nture of mjor repirs, renewls, or replcements. The compny hs lso not written off/deprecited, vlue of such replced items. However, s per Accounting Stndrd 10 on "Fixed Assets" further cpitliztion in existing fixed ssets is permissible only when the expected future ys[kkvks ds Hkkx ds :i es fviif.k;ks es i;kzir [kqyklk fd;k x;k gsa This is dequtely disclosed in Notes forming prts of Accounts. ;g diuh dh egroiw.kz ys[kkdu uhfr ds vuqlkj gsa bl lc/k es,d rduhdh lfefr dk igys gh xbu dj fy;k x;k gsa orzeku es ] rduhdh ewy;kdu miycèk ugh gsa rduhdh ewy;kdu izkir djus ds ckn vkus okys o"kks es ys[kkvks es mi;qdr lek;kstu fd;k tk,xka This is s per significnt Accounting policy of the compny. In this regrd Technicl Committee hs ll redy been constituted. At present technicl vlution is not vilble. After getting technicl vlution suitble djustment will be mde in the Accounts of coming yers. 115

118 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm benefits from fixed ssets increse previously ssessed stndrd performnce. In bsence of ny report from technicl expert, we re unble to comment whether cpitliztion by compny in plnt nd mchinery is s per Accounting Stndrd ½ m/kkj ykxr dk iw thdj.k% Hkkjr ljdkj ls fy, x, ;kstuk vksj ;kstusrrj _.kks ls izkir fu;r ifjlifrr;ks ds lc/k es mèkkj ykxr ds okfnr mi;ksx ds fy, rs;kj dh tk jgh,slh ifjlifrr;ks dks rkjh[k ls iw thñr ugh ekuk tk jgk gsa ;g ^^m/kkj ykxr^^ ij ys[kkdu ekud 16 dk myy?ku Fkk vksj diuh }kjk viukbz xbz m/kkj ykxr ij ys[kkdu uhfr Lohdkj dh xbz FkhA 5.4) Cpitliztion of Borrowing Costs: Borrowing Cost in reltion to fixed ssets cquired from pln nd non-plns lons viled from Government of Indi up to the dte when such ssets re being redy for intended use hs not being cpitlized. This is in contrvention to Accounting Stndrd 16 on "Borrowing Cost" nd ccepted Accounting Policy on borrowing cost followed by the compny. 5-5½ ekx&lwph% diuh us dks uke:i&i] II vksj III ds iw thxr Hk.Mkj vksj vu; Hk.Mkjks dh ekx&lwph ds ekeys es lhkkfor gkfu ds fy, yk[k #i, ¼fiNys o"kz yk[k #i,½ dk izko/kku fd;k gs tc rd ekx lwph 4] yk[k #i, ¼4] yk[k #i,½ FkhA ges fdlh rduhdh vuqeku@fjiksvz ds vhkko es liw.kzrk ds fy, izkoèkku dh I;kZIrrk ij fvii.kh djus es vlefkz gsa 5.5) Inventories: The Compny holds the provision of $ lcs (previous yer $ lcs) ginst possible loss in cse of inventory of Cpitl Stores nd Other stores nd spres of Nmrup I, II & III s on ginst n inventory of $ 4, lcs (previous yer $ 4, Hkkoh vuqikyu ds fy, uksv fd;k x;ka Noted for future complince. oklrfod fooj.ka Sttement of fct. 116

119 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm lcs). We re unble to comment on the dequcy of provision for obsolescence in bsence of ny technicl estimte / report. 5-6½ orzeku ns;rk, & fofo/k ysunkfj;k % leh{kk/khu o"kz ds nksjku vkw;y bfm;k fyfevsm vksj vle xsl deiuh ls rd ds ys[kks dh leh{kk iqf"v izkir dh xbz Fkh vksj 'ks"k dk lekèkku fd;k x;k FkkA rfkkfi] 'ks"k fofo/k ysunkjks ls iqf"v izkir gksus ij vko';d lek;kstu fd;k tk,xka 5.6) Current Libilities- Trde Pybles: During the yer under review, confirmtion of Accounts with Oil Indi Limited nd Assm Gs Compny Limited were obtined nd the blnces s on were reconciled. Blnces of other trde pybles re subject to confirmtion nd djustments necessry upon reconcilition. ysunkjks ds lkfk iqu% lek;kstu vksj cdk;k dh iqf"v djuk,d 'kk'kor izfø;k gs rfkk vu; ysunkjks dh cdk;k iqf"v dh lkeku;r% cdk;k ds vfre fuivku ds le; iqf"v dh tkrh gsa The reconcilition nd confirmtion of blnces with the creditors is perpetul system nd the blnces confirmtion of other creditors re generlly confirmed t the time of finl settlement of the dues. 5-7½ fofo/k ysunkj] _.k vksj vfxze% 5.7) Trde Receivbles, Lons & Advnces: d½ fofo/k ysunkjks ds cdk;k] _.k vksj vfxze rfkk fofhkuu vu; _.k cdk;k lek/kku ds fy, vko';d iqf"v vksj lek;kstu ds v/;/khu gsa ) Blnces of Trde Receivbles, Lons & Advnces nd vrious other debit blnces re subject to confirmtion nd djustments necessry upon reconcilition. [k½ 31 ekpz] 2012 dks fofhkuu ikfvz;ks dks fn;k x;k _.k vksj vfxze yk[k #i, gs] ftles 3 o"kks ls vf/kd le; ls nh xbz yk[k #i, dh vfxze jkf'k 'kkfey gs ftlds fy, diuh us yk[k #i, dk izko/kku fd;k gs] ifj.kkelo:i izko/kku es yk[k #i, dh deh gqbz gsa b) Long Term Lons & Advnces given to vrious prties s t 31st Mrch, 2012 mounts to $ lcs which includes $ lcs dvnced for more thn 3 yers ginst which the compny holds provision of $ lcs resulting in short provision of $ lcs. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. 117

120 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 5-8½ fdjk, dh olwyh% vf/kdrj ekeyks es iv~vk djkj dh vof/k lekir gks pqdh gsa fdjk,nkjks ls nks o"kz ls vf/kd dk yk[k #i, ¼fiNys o"kz yk[k #i,½ fdjk;k izkir gqvk gs ftles ls diuh us fdjk, dh olwyh u gksus dks ns[krs gq, lhkkfor gkfu ds fy, 7-75 yk[k #i, ¼fiNys o"kz 7-00 yk[k #i,½ dk izko/kku j[kk gsa 5.8) Recovery of Rent: Lese Agreements in most of the cses re time brred. Further rent of $ lcs (Previous Yer $ lcs) is receivble from tennts for more thn two yers out of which the compny holds provision of $ 7.75 lcs (Previous yer $ 7.00 lcs) ginst possible loss due to non recovery of rent. 5-9½ rs;kj olrqvks dk ewy;kdu% tslk fd izc/ku }kjk myys[k fd;k x;k gs] forrh; o"kz 2011&12 ds fy, ykxr ys[kk gekjh ys[kk&ijh{kk dh rkjh[k rd ugh fd;k x;k gsa rs;kj olrqvks ¼;wfj;k½ dk vuqekfur ykxr ;k fuoy oklrfod ewy;] tks Hkh de gks] ij ewy;kdu fd;k x;k gsa rfkkfi] ^^ekx&lwph ds ewy;kdu^^ ij ys[kkdu ekud 2 ds vuqlkj bls ykxr ;k fuoy izkir ewy; ij ewy;kdu fd;k tkuk pkfg, FkkA 5.9) Vlution of Finished Goods: As stted by the mngement, Cost udit hs not been done for the finncil yer till dte of our udit. Finished goods (Ure) hve been vlued t estimted Cost or Net Relizble Vlue whichever is lower. However, s per Accounting Stndrd 2 on "Vlution of Inventories", the sme should be vlued t Cost or Net Relizble Vlue. 5-10½ v)z&rs;kj olrqvks dk ewy;kdu% v)z&rs;kj olrqvks ¼veksfu;k½ dk ewy; vuqekfur ykxr ij fy;k x;k gs ; fi fuoy izkir ewy; ykxr ls de gsa rfkkfi] diuh }kjk viukbz xbz LohÑr ys[kkdu uhfr rfkk ^^ekx&lwph ds ewy;kdu^^ ij ys[kkdu ekud 2 ds vuqlkj bldk fdjk;k olwyus rfkk djkj ds uohdj.k ds fy, lcfèkr ljdkjh izkf/kdkfj;ks ds lkfk yxkrkj iz;kl fd, tk jgs gsa ljdkjh fohkkxks ls ns; fdjk,] fctyh vksj ikuh ds izhkkjks ds fy, dksbz izko/kku ugh fd;k x;k gsa Continuous efforts re being mde with concerned Government Authorities for reliztion of the rent nd lso for renewl of greement. Provision is not mde ginst rent, electricity nd wter chrges due from Govt. Deprtments. pw fd mriknu dh ykxr fuoy izkfir ewy; ls vf/kd gs] vr% ewy;kdu fuoy izkfir ;ksx; ewy; ij fd;k tkrk gs rfkk rs;kj mrikn ds ewy;kdu dh izfø;k diuh dh egroiw.kz ys[kkdu uhfr ds vuqlkj gsa Since cost of production is higher thn net relizble vlue, vlution is done t net relizble vlue nd the procedure of vlution of finished product is s per significnt Accounting policy of the compny. veksfu;k dk cktkj ewy; mldh mriknu ykxr ls vfèkd gs vksj v)z rs;kj mrikn ds ewy;kdu dh izfø;k dks diuh dh egroiw.kz ys[kkdu uhfr es mi;qdr :i ls n'kkz;k x;k gsa 118

121 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fuoy izkir ewy; ij ewy;kdu fd;k tk,xka 5.10) Vlution of Work in progress (Ammoni): Work in progress (Ammoni) hs been vlued t estimted cost though Net Relizble Vlue is lower thn cost. However, s per the ccepted ccounting policy followed by the compny nd s per Accounting Stndrd 2 on "Vlution of Inventories", the sme should lwys be vlued t Net Relizble Vlue. 5-11½ uqdlku ds fy, izko/kku dks myvuk% vk rfjd rduhdh lfefr dh flqkfj'k ds vk/kkj ij diuh us forrh; o"kz 2009&10 ds nksjku yk[k #i, ds uke:i&iii l;=k es veksfu;k&i ds l;=@lhihmcy;wmh ds Hkkx dks LFkkukrfjr@i wthñr fd;k gsa bu ifjlifrr;ks ds uqdlku dh finys o"kz?kks"k.kk dh xbz Fkh ¼ns[ks fvii.kh 2-8 dk isjk 4½A forrh; o"kz 2009&10 ds nksjku diuh us vuqekfur vk/kkj ij yk[k #i, ¼ yk[k #i, dk 70%½ dh gkfu ds izko/kku dks nksckjk tksm+k gsa fjolzy ds fy, viukus tkus dk ;g vk/kkj ^^ifjlifrr;ks ds lq/kkj^^ ij ys[kkdu ekud 28 ds isjk 93 ls 107 ds vuqlkj ugh gsa 5.11)Reversl of Provision for Impirment Loss: Bsed on recommendtion of n in-house technicl committee, the compny hd trnsferred/cpitlized prt of Plnt/CWIP of Ammoni I in Nmrup II nd Nmrup III plnts mounting to $ lcs during the finncil yer These ssets were declred impired in the erlier yers (Refer 4 of Note 2.8). During the finncil yer , the compny hd written bck impirment provision to the extent of $ lcs (70% of the $ lcs) on n estimted bsis. As reported in the preceding yer, the bsis dopted for such reversl ws not in ccordnce with Pr 93 to 107 of Accounting Stndrd 28 on "Impirment of Assets". 5-12½ mi;qzdr mi&isjk 5-1 ls 5-11 es fofufnz"v ekeyks The mrket vlue of Ammoni is higher is higher thn its cost of production nd the procedure of vlution of semi finished product suitbly disclosed in Significnt Accounting policy of compny. ys[kk ds Hkkx ds :i es fviif.k;ks es mi;qdr :i ls n'kkz;k x;k gsa Suitbly disclosed in Notes Forming Prts of Accounts. Åij i;kzir mn~?kkvu igys gh fd;k tk pqdk gsa 119

122 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ds lc/k es nh xbz lwpuk ls ge dks o"kz dh gkfu vksj fuoy ns;rkvks ij muds izhkko ij viuk er Li"V djus es vlefkz gsa 5.12)In respect of mtters specified in subprgrphs 5.1 to 5.11 bove, from vilble informtion we re unble to express our opinion s to the extent of their overll effect on the loss for the yer nd net ssets s t Adequte disclosures hve lredy been given bove. 6- gekjh fviif.k;ks ds vuqlkj mi;q ZDr isjk 5-1 ls 5-11 rd ds vrxzr ge fjiksvz djrs gs fd 6. Subject to our observtion under Pr 5.1 to 5.11 bove, we report tht; 6-1½ geus lhkh lwpuk, vksj Li"Vhdj.k izkir dj fy, gs tks gekjh loks ZRre tkudkjh vksj fo'okl ds vuqlkj gekjh ys[kk&ijh{kk ds iz;kstuks ds fy, vko';d FksA 6.1) We hve obtined ll the informtion nd explntions, which to the best of our knowledge nd belief were necessry for the purpose of our udit. 6-2½ gekjs fopkj ls deiuh dh ifjokj is 'ku ;kstuk ds vurxzr udn Hkqxrku ¼ns[ks fvii.kh 1 dk ds½ vksj ewy jkf'k dh olwyh [ns[ks fvii.kh 1 dk,q¼iii½] djus ds i'pkr~ dezpkfj;ks dks fn, x, vfxze ij C;kt dk fglkc j[kus ds vykok] deiuh us fofèk ds vurxzr visf{kr mfpr [kkrs j[ks gs] tslk fd mi&[kkrks dh tkp djus ls irk pyrk gsa 6.2) In our opinion, except Pyment under Compny's Fmily Pension Scheme (Refer K of Note 1) on csh bsis nd Accounting of Interest on Advnces to employees fter recovery of principl mount {Refer F (iii) of Note 1}, proper books of ccount s required by lw hve been kept by the Compny so fr s it ppers from our exmintion of those books. 6-3½ bl fjiksvz es myys[k fd, x, rqyu&i=] ykhk vksj gkfu [kkrk rfkk udn izokg fooj.k ys[kk iqlrdks ls esy [kkrs gsa oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka 120

123 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 6.3) The Blnce Sheet, Sttement of Profit nd Loss nd Csh Flow Sttement delt with by this report re in greement with the books of ccount. 6-4½ gekjs fopkj es mi;q ZDr isjk 5-2] 5-3¼M-½] 5-4] 5-9] 5-10 vksj 5-11 es fu/kkzfjr vuqlkj dks NksM+dj bl fjiksvz es myys[k fd, x, rqyu i=] ykhk vksj gkfu [kkrk deiuh vf/kfu;e] 1956 dh /kkjk 211 dh mi /kkjk ¼3x½ es mfyyf[kr ys[kkdj.k ekudks ds vuqlkj rs;kj fd, x, gsa 6.4) In our opinion, except s determined in Pr 5.2, 5.3(d), 5.4,5.9, 5.10, & 5.11 bove, the Blnce Sheet nd Sttement of Profit nd Loss delt with by this report comply with the Accounting Stndrds referred to in sub-section 3(C) of Section 211 of Compnies Act, ½ ds nz ljdkj us fnukd dh vf/klwpuk l- lk-dk-fu- 829¼bZ-½ ds rgr funs'k fn;k gs fd deiuh vf/kfu;e] 1956 dh /kkjk 274 dh mi èkkjk¼1½ dk [k.m ¼N½ ljdkjh deiuh ij ykxw ugh gksrk gsa 6.5) The Centrl Government hs directed vide notifiction no G.S.R.829(E), dted tht cluse (g) of sub-section(1) of section 274 of the Compnies Act, 1956 is not pplicble to Government Compny. Sttement of fct. Åij i;kzir [kqyklk igys gh fd;k tk pqdk gsa Adequte disclosures hve lredy been mde bove. oklrfod fooj.ka Sttement of fct. 6-6½ gekjs fopkj es vksj gekjh mrñ"v tkudkjh rfkk ges fn, x, Li"Vhdj.k ds vuqlkj%& 6.6) In our opinion nd to the best of our informtion nd ccording to the explntions given to us:- i½ lyxu fooj.kks ij isjk 5-12 ds vrxzr lwfpr ekeys dk izhkko gkykfd izkir ugh gs] oklrfod gksxka i) The extent of the overll effect of the mtter reported under Pr 5.12 on nnexed sttements though not scertinble would be mteril. Åij i;kzir [kqyklk igys gh fd;k tk pqdk gsa Adequte disclosures hve lredy been mde bove. ii½ mi;q ZDr isjk 6-6¼i½ es gekjh fvii.kh ds vèkhu Åij i;kzir [kqyklk igys gh fd;k tk pqdk gsa 121

124 s czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ii) ys[kk fviif.k;ks ds lkfk ifbr lyxu ys[kks ds vuqlkj diuh vf/kfu;e] 1956 }kjk visf{kr lwpuk nsrh gs rfkk Hkkjr es lkeku;r;k LohÑr ys[kkdu fl)krks ds vuq:i lgh vksj mfpr n`f"vdks.k iznku djrh gsa Subject to our observtion in Pr 6.6(i) bove, the nnexed ccounts, red with the notes on ccounts, gives the informtion required by the Compnies Act, 1956 in the mnner so required nd gives true nd fir view in conformity with the ccounting principles generlly ccepted in Indi. d½ 31 ekpz 2012 dh flfkfr ds vuqlkj deiuh ds dk;kz dh flfkfr ls lcf/kr rqyu&i= ds ekeys es A ) In the cse of Blnce Sheet of the stte of ffirs of the Compny s t 31st Mrch, 2012; [k½ ml rkjh[k dks lekir o"kz dh deiuh dh gkfu ds ykhk gkfu [kkrs ds ekeys es ( vksj b) In the cse of the Sttement of Profit nd Loss of the Loss of the Compny for the yer ended on tht dte; nd x½ ml rkjh[k dks lekir o"kz ds fy, udn izokgks ds udn izokg fooj.k ds ekeys es A c) In the cse of the Csh Flow Sttement of the csh flows for the yer ended on tht dte. Adequte disclosures hve lredy been mde bove. Åij i;kzir [kqyklk igys gh fd;k tk pqdk gsa Adequte disclosures hve lredy been mde bove. Åij i;kzir [kqyklk igys gh fd;k tk pqdk gsa Adequte disclosures hve lredy been mde bove. Åij i;kzir [kqyklk igys gh fd;k tk pqdk gsa Adequte disclosures hve lredy been mde bove. 122

125 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ys[kk ijh{kdks dh fjiksvz dk vuqyxud lel[;d rkjh[k dh gekjh fjiksvz ds isjk&3 dk lnhkz ys ANNEXURE TO AUDITOR'S REPORT Referred to in Prgrph 3 of our report of even dte iz'u Queries izc/ku ds mrrj Mngement Replies,slh tkp ds vk/kkj ij] tks gekjs fopkj es mi;qdr gs vksj ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj gs] ge myys[k djrs g S fd%& On the bsis of such checks s we considered pproprite nd in terms of the informtion nd explntions given to us, we stte tht:- i½ fu;r ifjlifrr;ks ds lc/k es % i) In respect of Fixed Assets : ¼d½ diuh us vke rksj ij viuh LFkk;h ifjleifrr;ks ds ek=kred fooj.kks vksj voflfkfr lfgr iwjs fooj.k n'kkzus ds fy, leqfpr fjdkmz j[ks gsa () The Compny hs generlly mintined proper records showing full prticulrs including quntittive detils nd sitution of its fixed ssets. ¼[k½ tslk fd izc/ku }kjk myys[k fd;k x;k gs] o"kz ds vr e s fu;r ifjlifrr;ks dk HkkSfrd lr;kiu fd;k x;k gsa ge ;g fvii.kh Hkh djus es vlefkz gs fd D;k,sls HkkSfrd lr;kiu ij dksbz lkexzh vfu;ferrk ikbz xbz Fkh vksj D;k mldk cgh [kkrks ds vuqlkj mfpr :i ls fuivku fd;k x;k FkkA (b) As stted by the mngement, fixed ssets hve been physiclly verified t the yer end. We re lso unble to comment if ny mteril discrepncies were noticed on such physicl verifiction nd whether they hve been properly delt with in the books of ccounts. oklrfod fooj.ka Sttement of fct. forrh; o"kz 2011&12 ds nksjku izc/ku }kjk fu;r ifjlifrr;ks dk HkkSfrd :i ls lr;kiu fd;k x;k gsa The fixed ssets hve been physiclly verified by the mngement during the finncil yer

126 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm ¼x½ (c) diuh us Hkfo"; es cus jgus dh viuh flfkfr dks izekf.kr djus ds fy, viuh fu;r ifjlifrr;ks ds fdlh Ik;kZIr Hkkx dk fuivku ugh fd;k gsa The Compny hs not disposed off ny substntil prt of it's fixed ssets so s to ffect its going concern sttus. oklrfod fooj.ka Sttement of fct. ekx lwph ds lc/k es % ii½ ii) In respect of Inventories : ¼d½ tslk fd ges crk;k x;k gs izc/ku }kjk o"kz ds nksjku eky&lwph dk oklrfod lr;kiu fd;k x;k FkkA () As explined to us, inventories were physiclly verified during the yer by the mngement. ¼[k½ gekjs er es ] vksj ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj diuh }kjk fd, x, eky&lwph ds oklrfod lr;kiu] tgk &dgh,slk lr;kiu djk;k x;k Fkk] dh izfø;k diuh ds vkdkj vksj blds O;olk; dh izñfr ds lc/k es rdzlxr ikbz xbz FkhA (b) In our opinion nd ccording to the informtion nd explntions given to us, the procedures of physicl verifiction of inventories followed by the mngement were resonble nd dequte in reltion to the size of the compny nd the nture of it's business. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. ¼x½ (c) gekjs fopkj es vksj ges nh xbz lwpuk ds vuqlkj diuh us viuh eky&lwph dk mfpr fjdkmz j[kk x;k gsa cgh [kkrks dh rqyuk es ekx&lwph ds HkkSfrd lr;kiu es vfu;ferrk, ns[kh xbz Fkh vksj budk cgh [kkrks ds lkfk mfpr :i ls fuivku fd;k x;k gsa In our opinion nd ccording to the informtion nd explntion given to us, the compny hs mintined proper records of it's inventory. Discrepncies were noticed on physicl verifiction of inventory s compred to book records oklrfod fooj.ka Sttement of fct. 124

127 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm iii½ iii) iv½ iv) nd the sme hs been properly delt with in books of ccounts. diuh us diuh vf/kfu;e] 1956 dh /kkjk 301 ds vrxzr j[ks x, jftlvj es 'kkfey difu;ks ] Qeks ;k vu; ikfvz;ks dks u rks dksbz _.k] jf{kr ;k vjf{kr fn;k gs vksj u gh fy;k gsa rnuqlkj] diuh ¼ys[kk&ijh{kd fjiksvz½ vkns'k] 2003 ds [k.m ¼iii½¼d½ ls ¼iii½¼N½ ds,sls izko/kku diuh ij ykxw ugh gksrsa The Compny hs neither grnted nor tken ny lons, secured or unsecured from compnies, firms or other prties covered in the register mintined u/s 301 of the Compnies Act, Accordingly, the provisions of cluse (iii) () to (iii) (g) of Compnies (Auditor's Report) Order, 2003 re not pplicble to the Compny. gekjs fopkj es vksj ges nh xbz lwpuk ds vuqlkj eky&lwph rfkk fu;r ifjlifrr;ks dh [kjhn vksj olrqvks dh fcøh ds lc/k es diuh ds vkdkj vksj blds O;oLkk; dh izñfr ds vuqlkj lkeku;r% i;kzir vkrfjd fu;=.k dh izfø;k ekstwn gsa In our opinion nd ccording to the informtion nd explntions given to us, there re generlly dequte internl control procedures commensurte with the size of the compny nd the nture of its business with regrd to purchse of inventory nd fixed ssets nd for sle of goods. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. v½ diuh vf/kfu;e] 1956 dh /kkjk 301 es mfyyf[kr lfonkvks ;k O;oLFkk ds lc/k es % v) In respect of the contrcts or rrngements referred to in Section 301 of the Compnies Act, 1956: ¼d½ gekjs }kjk fu"ikfnr ys[kk&ijh{kk izfø;kvks ds vk/kkj ij vksj ges nh xbz lwpuk] Li"Vhdj.k vksj vh;kosnu ds vuqlkj diuh us dksbz Bsdk ;k O;oLFkk ugh dh gs ftls diuh vf/kfu;e] 1956 dh /kkjk 301 ds oklrfod fooj.ka 125

128 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm () vrxzr j[ks x, jftlvj es ntz djuk gksrk gsa On the bsis of the udit procedures performed by us nd ccording to the informtion, explntions nd representtions given to us, the compny hs not mde ny contrcts or rrngements tht need to be entered into the register mintined under section 301 of the Compnies Act, Sttement of fct. ¼[k½ pw fd dksbz vuqc/k ;k O;oLFkk ugh dh xbz gsa vr% vkns'k ds [k.m ¼v½¼[k½ ds izko/kku diuh ij ykxw ugh gksrsa (b) As no contrcts or rrngements hve been mde, the provisions of cluse (v) (b) of the Order re not pplicble to the compny. vi½ diuh us diuh vf/kfu;e 1956 dh /kkjk 58d] 58dd ;k vu; fdlh lxr izko/kku vksj mlds vrxzr cuk, x, fu;eks ds vuqlj.k es turk ls dksbz tek jkf'k Lohdkj ugh dh gsa blfy, vkns'k ds [k.m ¼vi½ ds izko/kku diuh ij ykxw ugh gksrsa vi) The Compny hs not ccepted ny deposit from the public pursunt to sections 58A, 58AA or ny other relevnt provisions of the Compnies Act 1956 nd rules frmed there under. Therefore, the provisions of cluse (vi) of the Order re not pplicble to the Compny. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. vii½ vii) gekjs fopkj es diuh es mlds vkdkj rfkk mlds O;olk; dh izñfr ds vuq:i i;kzir vkrfjd ys[kk&ijh{kk iz.kkyh gsa In our opinion, the compny hs internl udit system commensurte with the size nd nture of its business. oklrfod fooj.ka Sttement of fct. viii½ geus Hkkjrh; l?k ljdkj }kjk cuk, x, fu;eks ds vuqlj.k es diuh }kjk j[ks x, cgh [kkrks dh O;kid rksj ij leh{kk dh gs ftlds fy, diuh vf/kfu;e 1956 dh /kkjk 209 dh mi&/kkjk ¼1½ ds [k.m ¼?k½ ds vrxzr ykxr fjdkmks dk vuqj{k.k oklrfod fooj.ka 126

129 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm viii) ix½ ix) fu/kkzfjr fd;k x;k gs vksj gekjk er gs fd izfke n`"v;k fu/kkzfjr ys[kk vksj fjdkmz j[ks x, gsa rfkkfi] geus bu fjdkmks dk lgh ;k iw.kzr% dh n`f"v ls irk yxkus ds fy, folr`r tkp ugh dh gsa We hve brodly reviewed the books of ccounts mintined by the compny pursunt to the order mde by the Centrl Government of Indi for the mintennce of cost records under cluse (d) of sub-section (1) of section 209 of the Compnies Act, 1956 nd re of the opinion tht prim fcie, the prescribed ccounts nd records hve been mintined. We hve not, however, crried out detiled exmintion of the records to scertin whether they re ccurte or complete. lkfof/kd cdk;k ns;rk ds lc/k es % In respect of sttutory dues: ¼d½ diuh o"kz ds nksjku mi;qdrk izkf/kdkfj;ks dks fu;fer :i ls Hkfo"; fuf/k] fuos'kd f'k{kk vksj lqj{kk fuf/k] dezpkjh jkt; chek] vk;dj] fcøh dj] lifrr dj] lsok dj] lhek 'kqyd] mrikn 'kqyd vksj mi&dj lfgr vfookfnr lkfof/kd cdk;k fu;fer :i ls tek djk jgh gsa ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj 31 ekpz] 2012 rd Hkqxrku dh tkus okyh jkf'k dh rkjh[k ls N% ekg ls vf/kd dh vof/k ds fy, mi;q ZDr ns;rkvks ds lc/k es dksbz ns; jkf'k fookfnr ugh gsa () The Compny hs been regulr in depositing undisputed sttutory dues including Provident fund, Investor Eduction nd Protection Fund, Income Tx, Sles Tx, Welth Tx, Service Tx, Custom Duty, Excise Duty, Cess nd other sttutory dues with the pproprite uthorities during the yer. According to the informtion nd explntions given to us, no undisputed mount pyble in respect of the foresid dues were outstnding s t Mrch 31, 2012 for Sttement of fct. oklrfod fooj.ka Sttement of fct. 127

130 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm period of more thn six months from the dte of becoming pyble. ¼[k½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj fcøh dj] vk;dj] lifrr dj] lsok dj] mrikn 'kqyd] mi&dj ds lc/k es dksbz ns;rk ugh gs ftls fdlh fookn ds dkj.k tek u djk;k x;k gksa (b) According to the informtion nd explntions given to us, there re no dues of Sles Tx, Income Tx, Welth Tx, Service Tx, Excise Duty nd Cess which hve not been deposited on ccount of ny dispute. oklrfod fooj.ka Sttement of fct. Ø- lkfof/kd dk ns;rkvks dh jkf'k vof/k ftlls Qksje tgk fookn l- uke izñfr ¼$ yk[k es½ jkf'k lcf/kr gs yfcr gs Sl. Nme of the Nture of the Amount Period to which Forum where No. Sttue dues ($ in lcs) mount reltes dispute is pending 1- fcøh dj vf/kfu;e] fcøh dj@ 0-34 forrh; o"kz lgk;d vk;qdr] fcgkj osv dj 2006&07 okf.kft;d dj] ivuk 1. Sles Tx Act, Sles Tx/ 0.34 Finncil yer Asstt Commissioner, Bihr Vt Tx Commercil Txes, Ptn x½ forrh; o"kz ds vr rd diuh dh lfpr gkfu blds fuoy ewy; ds ipkl izfr'kr ls vf/kd gs vksj bls pkyw forrh; o"kz vksj blls rrdky iwoz forrh; o"kz es Hkh udn gkfu gqbz gsa x) The ccumulted loss of the Compny t the end of the finncil yer exceeds fifty percent of its net worth nd the compny hs incurred csh losses in the current finncil yer nd lso in the immeditely preceding finncil yer. o"kz ds nksjku diuh us C;kt vksj ewy; gzkl ls igys 3] yk[k #i, dk ykhk vftzr fd;k gsa During the yer Compny erned profit of $ 3, lcs before interest, deprecition & prior period items. xi½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj rfkk ges fn, x, nlrkostks vksj fjdkmks ds vk/kkj ij Hkkjr ljdkj ls fy, x, _.k dks NksM+dj diuh us forrh; llfkku ;k csd dh nsunkfj;ks ds Hkqxrku oklrfod fooj.ka 128

131 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm xi) xii½ xii) es dksbz pwd ugh dh gsa blds vykok] diuh us fmcs pjks ds tfj, dksbz m/kkj ugh fy;k gsa According to the informtion nd explntions given to us nd bsed on the documents nd records produced to us, the compny hs not defulted in pyment of dues to the Finncil Institution or Bnks. Further, the compny hs not obtined ny borrowings by wy of debentures. diuh us 'ks;jks ] fmcs pjks vksj vu; izfrhkwfr;ks dh 'kifk }kjk izfrhkwfr ds vk/kkj ij dksbz _.k vksj vfxze iznku ugh fd;k gsa The Compny hs not grnted ny lons nd dvnces on the bsis of security by wy of pledge of shres, debentures nd other securities. Sttement of fct. oklrfod fooj.ka Sttement of fct. xiii½ diuh dksbz fpv QM@fuf/k@ijLij ykhk fufèk@lkslk;vh ugh gs] blfy, diuh ¼ys[kk&ijh{kd dh fjiksvz½ vkns'k] 2003 ds [k.m 4¼xiii½ ds izkoèkku diuh ij ykxw ugh gksrsa xiii) The compny is not chit fund / nidhi / mutul benefit fund / society. Therefore, the provisions of cluse 4(xiii) of the Compnies (Auditor's Report) Order, 2003 re not pplicble to the compny. xiv½ gekjs fopkj es diuh 'ks;jks ] izfrhkwfr;ks ] fmcs pjks vksj vu; fuos'k es ysunsu ;k O;kikj ugh dj jgh gs D;ks fd diuh ¼ys[kk&ijh{kd dh fjiksvz½ ds [k.m 4¼xiv½ ds,sls izko/kku diuh ij ykxw ugh gksrsa xiv) In our opinion, the compny is not deling in or trding in shres, securities, debentures nd other investments s such provisions of cluse 4(xiv) of the Compnies (Auditor's Report) Order, 2003 re not pplicble to the Compny. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. xv½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj diuh us csd ;k forrh; llfkkuks ls vu; }kjk fy, x, _.k ds fy, dksbz xkjvh ugh nh gsa oklrfod fooj.ka 129

132 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm xv) According to the informtion nd explntions given to us nd the representtions mde by the mngement, the Compny hs not given ny gurntee for lons tken by others from ny bnk or finncil institution. Sttement of fct. xvi½ diuh ij finys forrh; o"kz ds 'kq: es Hkkjr ljdkj dk 52]691 yk[k #i, ¼fiNys o"kz 48]191 yk[k #i,½ ¼ewy?kVd½ dk cdk;k vkof/kd _.k FkkA diuh dks orzeku forrh; o"kz ds nksjku Hkkjr ljdkj ls 6]780 yk[k #i, ¼fiNys o"kz 4]500 yk[k #i,½ izkir gq, Fks ftles ls 48]956 yk[k #i, ¼fiNys o"kz 43]075 yk[k #i,½ djksm+ #i, mfyykf[kr iz;kstu ij blrseky fd, tk pqds gs vksj 105]15 yk[k #i, ¼fiNys o"kz 9]616 yk[k #i,½ dh cdk;k jkf'k dks csd es vkof/kd tek jkf'k ds :i es mi;ksx djus ds fy, j[kk x;k gsa xvi) The compny hd n outstnding Term Lon from Government of Indi mounting to $ 52,691 lcs (Previous yer $ 48,191 lcs) (principl component) t the beginning of the finncil yer. The compny further received term lon of $ 6,780 lcs (Previous yer $ 4,500 lcs) from Government of Indi during current finncil yer out of which $ 48,956 lcs (Previous yer $ 43,075 lcs) hs been utilized for the stted purpose nd blnce mount of $ 105,15 lcs (Previous yer $ 9,616 lcs) pending for utiliztion hs been kept s Term Deposits with bnk. xvii½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj rfkk diuh ds rqyu&i= dh lexz tkp djus ds ckn ge fjiksvz djrs gs fd nh?kkzof/k fuos'k ds fy, vyikof/k vk/kkj ij dksbz fuf/k;k ugh tqvkbz xbz gsa xvii) According to the informtion nd explntions given to us nd on n overll exmintion of the Finncil Sttements of the Compny, we report tht no funds rised on short term bsis hve been used for long term investment. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. 130

133 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm xviii½ o"kz ds nksjku diuh us diuh vf/kfu;e] 1956 dh /kkjk 301 ds vrxzr j[ks x, jftlvj es 'kkfey ikfvz;ks vksj difu;ks dk dksbz vf/keku vkcvu ugh fd;k gsa xviii) During the yer, the compny hs not mde preferentil llotment of shres to prties nd compnies covered in the register mintined under Section 301 of the Compnies Act, xix½ diuh us ys[kk&ijh{kk o"kz ds nksjku dksbz fmcs pj tkjh ugh fd, gsa blfy,] diuh ij diuh ¼ys[kk&ijh{kd fjiksvz½ vkns'k 2003 ds [km 4¼xix½ ds izko/kku ykxw ugh gksrsa xix) On the bsis of the records nd documents exmined by us, the Compny hs not issued ny debentures during the yer. Therefore the provisions of cluse 4(xix) of the Compnies (Auditor's Report) Order, 2003 re not pplicble to the Compny. oklrfod fooj.ka Sttement of fct. oklrfod fooj.ka Sttement of fct. xx½ xx) diuh us o"kz ds nksjku ifcyd b';w }kjk dksbz èkujkf'k ugh tqvkbz gsa The compny hs not rised ny money by public issue during the yer. oklrfod fooj.ka Sttement of fct. xxi½ ges nh xbz lwpuk vksj Li"Vhdj.k ds vuqlkj o"kz ds nksjku diuh ds /;ku es dksbz /kks[kk/km+h ugh gqbz gsa xxi) According to the informtion nd explntions given to us nd to the best of our knowledge nd belief no frud on or by the Compny hs been noticed or reported during the yer. oklrfod fooj.ka Sttement of fct. 131

134 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 31 ekpz 2012 rd dk rqyu i= BALANCE SHEET AS AT 31ST MARCH, 2012 ¼#- yk[kks es½ (R in Lcs) fooj.k P A R T I C U L A R S NOTES MARCH 31, MARCH 31, I bfdovh vksj nsunkfj;k I EQUITY AND LIABILITIES d 'ks;j/kkjdks dh fuf/k;k A Shreholders Funds ¼d½ 'ks;j iwth () Shre cpitl , , ¼[k½ fjtoz vksj vf/k'ks"k (b) Reserves nd Surplus 2.2 (77,847.57) (64,966.13) (41,264.33) (28,382.89) [k xsj&orzeku nsunkfj;k ¼d½ nh?kkzof/k m/kkj ¼[k½ vu; nh?kkzof/k nsunkfj;k ¼x½ nh?kkzof/k izko/kku B Non-Current Libilities () Long-term borrowings , , (b) Other long-term libilities 2.4 1, , (c) Long-term provisions 2.5 4, , , , x orzeku nsunkfj;k C Current Libilities ¼d½ O;kikj ns;rk, () Trde pybles 2.6 6, , ¼[k½ vu; orzeku nsunkfj;k (b) Other current libilities , , , , ;ksx ¼d$[k$x½ II ifjlifrr;k?k xsj&orzeku ifjlifrr;k ¼d½ fu;r ifjlifrr;k ¼i½ ewrz lifrr;k ¼ii½ vewrz lifrr;k ¼iii½ py jgk iwthxr dk;z ¼iv½ fodkl ds v/khu ifj;kstuk ¼[k½ nh?kkzof/k +_.k vksj vfxze ¼x½ vu; xsj&orzeku ifjlifrr;k M- orzeku ifjlifrr;k ¼d½ eky&lwph ¼[k½ O;kikj izkfir;k ¼x½ udn vksj udn led{k II D E TOTAL (A+B+C) 86, , ASSETS Non-Current Assets () Fixed ssets (i) Tngible ssets , , (ii) Intngible ssets (iii) Cpitl work-in-progress 2.8 2, , (iv) Project Under Development (b) Long-term lons nd Advnces (c) Other Non-current Assets , , Current ssets () Inventories , , (b) Trde receivbles , , (c) Csh nd csh equivlents , ,

135 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm rqyu i= SHEET (Contd.) fooj.k ¼?k½ vyikof/k +_.k vksj vfxze ¼M-½ vu; orzeku ifjlifrr;k P A R T I C U L A R S NOTES MARCH 31, MARCH 31, (d) Short-term lons nd dvnces (e) Other current ssets , , ;ksx ¼?k$M-½ egroiw.kz ys[kk uhfr;k forrh; fooj.kks ij fviif.k;k TOTAL (D+E) 86, , Significnt Accounting Policies 1 Notes on Finncil Sttements 2 cksmz ds fy, vksj mudh vksj ls For nd on behlf of the Bord g0@& g0@& g0@& ¼vkj-ds- xqirk½ ¼lh-oh- Ñ".kk½ ¼,u-ds- lkgk½ diuh lfpo funs'kd funs'kd ¼mRiknu½@ v/;{k vksj izc/k funs'kd Sd/- Sd/- Sd/- (R.K.Gupt) (C.V. Krishn) (N.K. Sh) Compny Secretry Director Director (Production)/ Chirmn & Mnging Director lel[;d rkjh[k dh gekjh fjiksvz ds vuqlkj In terms of our report of even dte Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj QeZ ith- l- % bZ For G. Choudhury & Assocites Chrtered Accountnts Firm Regn. No E g0@& ¼xksiky pks/kjh½ ikvzuj lnl;rk l Gopl Choudhury PARTNER Membership No LFkku % ubz fnyyh fnukd % 24 flrcj] 2012 Plce : New Delhi Dte : September 24,

136 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k dks lekir o"kz ds fy, ykhk vksj gkfu dk fooj.k STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED 31ST MARCH, 2012 ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S NOTES MARCH 31, MARCH 31, d jktlo izpkyuks ls jktlo ¼ldy½?kVk% mrikn 'kqyd izpkyuks ls jktlo ¼fuoy½ vu; vk; dqy ¼d½ [k O;; mihkkst; lkefxz;ks dh ykxr LVkWd&bu&VsªM dh [kjhn rs;kj olrqvks dh eky&lwph es ifjorzu py jgk dk;z vksj LVkWd&bu&VsªM dezpkjh ykhk O;; forrkh; ykxr ewy; gzkl vksj _.keqfdr O;; vu; O;; ;ksx ¼[k½ A REVENUE Revenue from Opertions (Gross) , , Less: Excise duty Revenue from Opertions (net) , , Other income , , TOTAL (A) 42, , B EXPENSES Cost of mterils consumed , , Purchses of stock-in-trde , , Chnges in inventories of finished goods, work-in-progress nd stock-in-trde 2.20 (248.37) Employee benefits expenses , , Finnce costs , , Deprecition nd mortistion expenses 2.8 4, , Other expenses , , TOTAL (B) 51, , x orzeku o"kz ¼d&[k½ ds fy, ykhk@¼gkfu½ C Profit / (Loss) for the Current yer (A-B) (8,616.47) (7,742.68)?k iwoz vof/k lek;kstu ¼fuoy½ M- iwoz vof/k lek;kstu ds ckn ykhk@¼gkfu½ D Prior Period djustments (net) , E Profit / (Loss) fter Prior Period djustments (12,881.44) (8,509.33) p dj O;;% ¼d½ orzeku dj ¼d½ vklfkfxr dj F Tx Expense: () Current Tx - - () Deferred Tx N o"kz ¼M+&p½ds fy, ykhk@¼gkfu½ vk; izfr 'ks;j ¼izR;sd #-1000@&½% ewy vksj fefjr egroiw.kz ys[kk uhfr;k forrh; fooj.kks ij fviif.k;k G Profit / (Loss) for the yer (E-F) (12,881.44) (8,509.33) Ernings per shre (of $ 1000/- ech): 2.26 Bsic nd Diluted (352.11) (232.60) Significnt Accounting Policies 1 Notes on Finncil Sttements 2 134

137 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm cksmz ds fy, vksj mudh vksj ls For nd on behlf of the Bord ¼vkj-ds- xqirk½ ¼lh-oh- Ñ".kk½ ¼,u-ds- lkgk½ diuh lfpo funs'kd funs'kd v/;{k vksj izc/k funs'kd Sd/- Sd/- Sd/- (R.K.Gupt) (C.V. Krishn) (N.K. Sh) Compny Secretry Director Director (Production)/ Chirmn & Mnging Director lel[;d rkjh[k dh gekjh fjiksvz ds vuqlkj In terms of our report of even dte Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj QeZ ith- l- % bZ For G. Choudhury & Assocites Chrtered Accountnts Firm Regn. No E g0@& ¼xksiky pks/kjh½ ikvzuj lnl;rk l Gopl Choudhury PARTNER Membership No LFkku % ubz fnyyh fnukd % 24 flrcj] 2012 Plce : New Delhi Dte : September 24,

138 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm o"kz 2011&2012 ds fy, udn izokg fooj.k CASH FLOW STATEMENT FOR THE YEAR fooj.k izpkyu dk;zdykiks ls udnh % dj vksj vlk/kkj.k enks ls igys ykhk@¼gkfu½ % tek% xsj&udn enks vksj vu; ds fy, lek;kstu izpkyu dk;zdyki & ewy; gzkl & C;kt O;; & iqjkusiu ds fy, izko/kku & NqV~Vh ds udn Hkqxrku ds fy, izko/kku & lfnx/k _.k] vfxze vksj tek jkf'k & minku ds fy, izko/kku & fu;r ifjlifrr;ks dh fcdh ij ykhk & cv~vs [kkrs Mkyk x;k vklfkfxr jktlo O;; & iwoz vof/k ens izkjfhkd O;; iqu% fy[kk x;k vfrfjdr mrikn 'kqyd dks iqu% fy[kk x;k Hkkjr ljdkj ds _.k ij C;kt ewy; gkzl dk;z'khy iwth ifjorzu dj vksj vlk/kkj.k enks ls igys izpkyu ls udnh P A R T I C U L A R S CASH FROM OPERATING ACTIVITIES : ¼#- yk[kks es½ (R in Lcs) Profit/(Loss) before tx nd Exceptionl Items : (12,881.44) (8,509.33) Add: Adjustments for Non Csh items & other thn Operting Activities - Deprecition 4, , Interest Expense 8, , Provision for Obsolesence (0.34) Provision for Leve Encshment Doubtful Debts, Advnces & deposits Provisions for Grtuity , Profit on sle of Fixed Assets (0.11) - Deferred Revenue Expenditure w/off Prior Period items Preliminry Expenses Written Bck (102.20) Excess Excise duty written bck (0.41) Interest on GoI Lon 1, Deprecition , , Csh from Opertion Before Working Cpitl Chnges, Txes & Extrordinry Items 2, ,

139 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k dk;z'khy iwth ifjorzuks ds fy, lek;kstu% udn izokg fooj.k FLOW STATEMENT (Contd.) P A R T I C U L A R S Adjustments for Working Cpitl chnges : ¼#- yk[kks es½ (R in Lcs) & O;kikj vksj vu; izki;ks es o`f)@deh & vu; xsj&orzeku ifjlifrr;ks es o`f)@deh & ekx&lwph es o`f)@deh & O;kikj ns;rk vksj vu; ns;rk es o`f) & minku vksj NqV+Vh dk udn Hkqxrku izpkyu dk;zdykiks ls udn dk vkrfjd izokg ¼d½ fuos'k dk;zdykiks ls udn % fu;r ifjlifrr;ks vksj lhmcy;wvkbzih dh [kjhn ¼m/kkj ykxr vksj iwoz vof/k ejeer ds iwthdj.k }kjk de dh xbz fu;r ifjlifrr;ks es o`f)½ fu;r ifjlifrr;ks dh fcøh lhmcy;wvkbzih ds fy, vfxze fuos'k dk;zdykiks ls udn dk ckgj dh vksj izokg ¼[k½ forrh; dk;zdykiks ls udn % vlqjf{kr _.k es o`f) lqjf{kr _.kks ds fy, LFkkfir Hkqxrku forrh; dk;zdykiks ls udn vkrfjd izokg ¼x½ - Increse/Decrese in Trde nd Other Receivble 3, (7,837.34) - Increse/Decrese in Other Non Current Assets (227.50) - - Increse/Decrese in Inventory (66.89) Increse in Trde Pyble nd other pybles , Grtuity nd Leve encshment pid (638.65) 2, (602.20) (6,324.85) Csh Inflow from Operting Activities (A) 4, (1,218.72) CASH FROM INVESTING ACTIVITIES : Purchse of Fixed Assets & CWIP (Increse in Fixed Assets s reduced by Cpitlistion of Borrowing Cost nd Prior Period Repirs) (5,390.71) (1,149.61) Sle of Fixed Assets 0.11 Advnces for CWIP (633.12) Csh outflow from Investing Activities (B) (5,338.87) (1,782.73) CASH FROM FINANCING ACTIVITIES : Increse in Unsecured Lon 6, , Instllment Pyments for Secured Lons - (154.49) Csh inflow from Finncing Activities (C) 6, ,

140 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k udn vksj udn led{k es fuoy udn o`f)% ¼d$[k$x½ o"kz ds 'kq: es udn vksj udn led{k% o"kz ds vr es udn vksj udn led{k% P A R T I C U L A R S NET CASH INCREASE IN CASH AND CASH EQUIVALENTS: (A+B+C) 6, , CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR: 16, , CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR: 23, , fviif.k;k% udn vksj udn led{k 'kkfey gs% udn vksj csd cdk;k] vyi vof/k vksj vu; tek jkf'k] tks vr;f/kd rjy vksj udnh gs] tc dhkh vko';drk gksa fu;r ifjlsifrr;ks dh [kjhn fuoy lek;kstu ds :i es n'kkzbz xbz gsa udn izokg fooj.k ys[kkdu es fu/kkzfjr vuqlkj ^^vizr;{k i)fr^^ ds vrxzr rs;kj fd;k x;k gsa vkbzlh,vkbz }kjk tkjh udn izokg fooj.k ij ekud ¼,,l½ & 3 finys o"kz ds vkdm+ks dk] tgk&dgh vko';d ik;k x;k] iqu% lewg@iqu% O;ofLFkr fd;k x;k gs rkfd orzeku o"kz dh izlrqfr dh iqf"v dh tk ldsa Notes: Csh nd Csh Equivlents include : Csh & Bnk Blnces, Short term nd other deposits, which re highly liquid nd encshble s nd when needed. Purchse of Fixed Assets hs been shown net of Adjustments. The Csh Flow Sttement hs been prepred under the "Indirect method" s set-out in Accounting Stndrd (AS) - 3 on Csh Flow Sttement issued by ICAI The Previous Yer's figures hve been regrouped / rerrnged, wherever found necessry to confirm to current yer's presenttion. cksmz ds fy, vksj mudh vksj ls For nd on behlf of the Bord g0@& g0@& g0@& ¼vkj-ds- xqirk½ ¼lh-oh- Ñ".kk½ ¼,u-ds- lkgk½ diuh lfpo funs'kd funs'kd ¼mRiknu½@ v/;{k vksj izc/k funs'kd Sd/- Sd/- Sd/- (R.K.Gupt) (C.V. Krishn) (N.K. Sh) Compny Secretry Director Director (Production)/ Chirmn & Mnging Director lel[;d rkjh[k dh gekjh fjiksvz ds vuqlkj In terms of our report of even dte Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj QeZ ith- l- % bZ For G. Choudhury & Assocites Chrtered Accountnts Firm Regn. No E g0@& ¼xksiky pks/kjh½ ikvzuj lnl;rk l Gopl Choudhury PARTNER Membership No LFkku % ubz fnyyh fnukd % 24 flrcj] 2012 Plce : New Delhi Dte : September 24,

141 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES ¼d½ fu;r ifjlifrr;k (A) FIXED ASSETS ¼i½ fu;r ifjlifrr;ks dks de flfpr ewy; gzkl ij myys[k fd;k x;k gsa (i) Fixed Assets re stted t cost less ccumulted deprecition. ¼ii½ ykxr es [kjhn dh ykxr rfkk vu; O;; tsls LFkkiuk ykxr] vkrfjd HkkM+k] xsj&izfrns; dj rfkk ifjlifrr dks mlds orzeku LFky ls mls blrseky djus ds fy, rs;kj djus rd vu; dksbz O;; 'kkfey gsa (ii) Cost includes cost of purchse nd ll expenditure such s instlltion cost, inwrd freight, non refundble txes nd ny other expenses incurred for bringing the sset in its current loction till it is redy to use. ¼iii½ fu;r ifjlifrr;ks dh ykxr ds vykok] fuekz.k vksj LFkkiuk vof/k ds nksjku [kpz jktlo O;; okf.kft;d mriknu ds 'kq: gksus rd iw th es ifj.kr fd;k tkrk gsa okf.kft;d mrikn ds 'kq: gksus ls iwoz vkuq"kfxd vk; ifj;kstuk dh ykxr es Mkyh tkrh gsa (iii) Aprt from cost of Fixed Assets, Revenue Expenditure incurred during construction nd commissioning period is cpitlized till commencement of commercil production. Incidentl Income prior to commencement of commercil production is set-off ginst the cost of the Project. ¼iv½ l;= vksj e'khujh ds l;kstu es izeq[k ejeer vksj uohdj.k vksj izfrlfkkiu 'kkfey gs tks l;= dh vk;q vksj n{krk c<+k nsxka,sls ekeyks es ;fn cnyh xbz ifjlifrr dk fyf[kr U;wure ewy; irk u yxk;k tk ldrk gks rks ys[kkvks es lek;kstu ds fy, rduhdh ewy;kdu fd;k tkrk gsa (iv) Additions to Plnt & Mchinery include mjor repirs s well s renewls nd replcements which will increse life nd efficiency of the Plnt. In such cses, if the written down vlue of the ssets replced is not scertinble, technicl vlution is mde for djustment in the ccounts. ¼v½ e'khujh iqts ] ftugs dsoy fu;r ifjlifrr;ks dh en ds lc/k es gh blrseky fd;k tk ldrk gs vksj ftudk mi;ksx fu;fer gksus dh lhkkouk gs] dks iw thñr fd;k x;k gsa (v) Mchinery spres which cn be used only in connection with n item of fixed ssets nd whose use is expected to be irregulr re cpitlized. ¼[k½ ewy;&gzkl (B) DEPRECIATION ¼i½ 5000@& #i, rd dh e'khujh] midj.kks vksj dk;kzy; midj.kks dk l;kstd o"kz es iwjh rjg ewy; gzkl fd;k tkrk gsa (i) Mchinery, Equipments nd Office Applinces costing up to $ 5,000/- re fully deprecited in the yer of ddition. 139

142 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k ¼tkjh½ NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES (CONTD.) ¼ii½ ewy; gzkl ;Fkkl'kksf/kr diuh vf/kfu;e] 1956 dh vuqlwph&xiv es fu/kkzfjr l'kksf/kr njks ij ^^lhèkh js[kk i)fr** ij fy;k tkrk gs tks ifjlifrr;ks dh ewy ykxr dk 95% gksrk gsa (ii) Deprecition is chrged on "Stright Line Method", t the revised rtes prescribed in the Schedule XIV to the Compnies Act, 1956, s mended, to the extent of 95%, on the originl cost of the ssets. ¼iii½ mi;q ZDr isjk 1¼v½ es mfyykf[kr e'khujh iqtks dh ykxr ewy l;= dh mi;ksxh vk;q dh rqyuk es ifj'kksf/kr fd;k tkrk gsa (iii) The cost of Mchinery spres referred to in Pr 1(v) bove re mortized over the useful life of the Originl Plnt. ¼iv½ ifjlifrr;ks dks LFkkfir djus vksj mudk blrseky djus ij ewy; gzkl miyc/k djk;k tkrk gsa (iv) Deprecition is provided on the ssets fter they re certified to be instlled nd put to use. ¼v½ iv~vk/kkfjr Hkwfe dk ewy; ¼izkjfHkd Hkqxrku½ dh iv~vk vof/k ds vuqlkj ifj'kksf/kr fd;k tkrk gsa (v) The vlue (initil pyments) of Lesehold Lnd is mortized over the period of lese. ¼3½ m/kkj ykxr (C) BORROWING COST vgzd ifjlifrr;ks ds vtzu@fuekz.k ds lc/k es [kpz dh xbz m/kkj ykxr ml rkjh[k rd,slh ifjlifrrk;ks ds Hkkx ds :i es iw thñr gs tc ;s ifjlifrr;k okfnr mi;ksx djus ds fy, rs;kj gks A vu; m/kkj ykxr dks o"kz es [kpz ds :i es fy[kk tkrk gs ftues ;g [kpz dh xbz gksa Borrowing costs incurred in reltion to the cquisition/construction of qulifying ssets re cpitlized s prt of the cost of such ssets up to the dte when such ssets re redy for intended use. Other borrowing costs re chrged s n expense in the yer in which these re incurred. ¼4½ eky&lwph ewy;kdu (D) INVENTORIES ¼i½ eky&lwph es dpph lkefxz;k] isfdx lkexzh] Hk.Mkjks vksj vfrfjdr iqtks ] v)z rs;kj mriknks vksj rs;kj LVkWd 'kkfey gsa (i) Inventory includes Rw Mterils, Pckging Mteril, Stores & Spres, Semi-finished products nd finished stock. ¼ii½ dpph lkexzh dk ewy; ykxr ij fn;k x;k gs ¼ekfld Hkkfjr vkslr½a (ii) Rw Mterils re vlued t cost (monthly weighted verge). ¼iii½ isfdx lkefxz;ks rfkk HkMkj x`g vksj vfrfjdr (iii) Pckging Mterils nd Stores & Spres re 140

143 Z Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k ¼tkjh½ NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES (CONTD.) iqtks ds ekfld Hkkfjr vkslr ;k rduhdh vuqeku] tks Hkh de gks] ds vk/kkj ij ykxr ¼ftles orzeku flfkfr vksj LFky dks lkefxz;ks rd ykus dk vkuq'kfxd O;; 'kkfey gs rfkk dj izkfèkdkfj;ks ls diuh }kjk olwys x, 'kqyd vksj djks dks?kvkdj½a vlued t Cost (inclusive of expenses incidentl to bring the mterils to the present condition nd loction less duties nd txes recoverble by compny from txing uthorities) on the bsis of monthly weighted verge or technicl estimtes, whichever is lower. ¼iv½ [kqys midj.kks dks rhu o"kz dh vof/k es cv~vs [kkrs es Mkyk x;k gsa (iv) Loose tools re written-off over period of three yers. ¼v½ LVkWd % ¼d½ rs;kj olrq, %& ;wfj;k & U;wu ykxr ij ewy;kfdr ;k fuoy olwyh;ksx; ewy;] ftles fj;k;r ewy; jktlgk;rk vksj HkkM+k jktlgk;rk] tgk HkkM+k O;; Hkkx jktlgk;rk ls vf/kd gksrk gsa (v) Stocks of : () Finished Goods :- Ure is vlued t lower of cost or net relizble vlue comprising concessionl price subsidy nd freight subsidy where freight expenses re more thn the freight subsidy. ¼[k½ veksfu;k tsls e/;orhz@v)z&rs;kj mriknks dks ykxr ds de ewy; ;k fuoy olwyh;ksx; ewy; ij ewy;kfdr fd;k tkrk gsa (b) Intermediries/Semi-finished products like Ammoni is vlued t lower of cost or net relizble vlue. ¼x½ vxz suhr rs;kj mriknks dks U;wu ykxr ;k fuoy izkir ;ksx; ewy; ij ewy;kfdr fd;k tkrk gsa (c) Bought out finished products - re vlued t lower of cost or net relizble vlue. ¼?k½ iqjkus HkMkjks vksj vfrfjdr iqtks ¼vpy½ ds fy, 65 dh nj ls izko/kku fd;k x;k gs rfkk [kkrks es fujrjrk cuk, j[kus ds fy, mls dqy eky&lwph ls?kvk;k x;k gsa (d) Provision is mde for Obsolescence of Stores & Spres (Non - 65% nd reduced from totl inventory to keep consistency in the ccounts. ¼M-½ jktlgk;rk jktlgk;rk dh x.kuk QSDVjh ls QfVZykbtj ds LVkWd ds iz s"k.k ds vk/kkj ij dh tkrh gsa rfkkfi] ys[kkvks es jktlgk;rk ds _.k dks dsoy csph (E) SUBSIDIES The subsidy is billed & ccounted for on the bsis of receipt of fertilizer to the destintion itself. However, the credit for subsidy in the 141

144 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k ¼tkjh½ NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES (CONTD.) xbz ek=kvks ij gh fy;k tkrk gsa,qvkbzlhlh ls vf/klwpuk ds izkir gksus rd vknku ewy;ks es ifjorzu ds fy, jktlgk;rk es lek;kstu dh x.kuk fn'kk&funs Z'kks ] uhfr;ks ] ljdkj }kjk fn, x, vuqns'kks vksj Li"Vhdj.k dks /;ku es j[krs gq, izfr/kkj.k ewy;ks es vrj ds vk/kkj ij dh tkrh gsa ccounts is tken only for the quntities sold. Pending receipt of notifiction from FICC, the djustment in subsidy for vrition in input prices is ccounted for on the bsis of vrition in the retention prices on estimtion bsis tking into ccount the guidelines, policies, instructions nd clrifictions given by the Government. ¼p½ jktlo eku;rk (F) REVENUE RECOGNITION ¼i½,e,eVhlh ds lkfk le>ksrk&kkiu ¼djkj½ ds vuqlkj r; nj ds vk/kkj ij fu;kzr fcøh dks ys[kk es 'kkfey fd;k tkrk gs c'krs Z fd Hkkjr ljdkj dh uhfr vksj mlds }kjk tkjh fn'kk&funs Z'kks ds vuqlkj lek;kstu fd;k tk,a (i) Export sle ccounted for bsed on the rte s per Memorndum of Understnding (Agreement) with MMTC subject to the djustment s per policy nd guidelines issued by the Govt. of Indi. ¼ii½ vk;@o;; dh lkeku;r% izksn~hkwr vk/kkj ij x.kuk dh tkrh gs tc rd fd vu;fkk fo'ks"k :i ls myys[k u fd;k x;k gksa (ii) Income/Expenditure is generlly ccounted for on ccrul bsis unless otherwise specificlly stted. ¼iii½ dezpkfj;ks dks vfxze ij C;kt dh x.kuk ewyèku dh iwjh olwyh gksus ds ckn dh tkrh gsa (iii) Interest on Advnces to Employees is ccounted for fter the principl is fully recovered. ¼iv½ dckm+@cps gq, eky@vif'k"v lkefxz;ks x.kuk cspus ij gh dh tkrh gsa dh (iv) Scrp/Slvge/Wste Mterils re ccounted for s nd when sold. ¼N½ iznrr&iwoz O;; (G) PRE-PAID EXPENSES fueufyf[kr o"kz ¼o"kks ½ ls lcf/kr vfxze ds [kpz fd, x, izr;sd ekeys es 10]000@& #i, rd O;; dh x.kuk dh tkrh gs ftues ;g [kpz fd;k x;k gksa ¼t½ vof/k&iwoz lek;kstu vof/k ¼vof/k;ks ½ ls lcf/kr vk;@o;; dh x.kuk (H) Expenditure up to $ 10,000/- in ech cse incurred in dvnces relting to the following yer(s), is ccounted for in the yer in which it is incurred. PRIOR PERIOD ADJUSTMENT Income/Expenditure relting to prior period(s) 142

145 Z czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k ¼tkjh½ NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES (CONTD.) dsoy Hkwy&pwd ds gsa ekeyks es gh dh tkrh is ccounted for only in cses of errors or omissions. ¼>½ vklfkfxr jktlo vksj fodkl O;; fuekz.k vof/k ds nksjku fcøh lo/kzu] LVkWQ izf'k{k.k] vuql/kku vksj fodkl] vkfn ij [kpz dh xbz jkf'k dks ;wfuv ds okf.kft;d mriknu ds gksus okys o"kz ls izkjehk gksdj ikp o"kks dh vof/k ds fy, cv~vs [kkrs es Mkyk tkrk gsa (I) DEFERRED REVENUE AND DEVELOPMENT EXPENDITURE Expenditure incurred on sles promotion, stff trining, Reserch nd Development etc. during construction period nd Cost of Ctlyst is written off over period of five yers strting from the yer in which the ctlyst is instlled or the unit commences commercil production. ¼ ½ lsok&fuo`frr ykhk (J) RETIREMENT BENEFITS minku vksj NqV~Vh udnh nsunkjh dk izko/kku oklrfod ewy;kdu ds vk/kkj ij fd;k tkrk gsa Provision for grtuity nd leve encshment libility is mde on the bsis of cturil vlution. ¼V½ diuh dh ikfjokfjd is'ku ;kstuk ds vrxzr Hkqxrku (K) PAYMENT UNDER COMPANY'S FAMILY PENSION SCHEME diuh dh ifjokj is 'ku ;kstuk ds vrxzr Hkqxrku dh x.kuk vko';drk im+us ij dh tkrh gsa Pyment under Compny's Fmily Pension Scheme is ccounted for s nd when pid. ¼B½ lgk;rk&vuqnku & ohvkj,l (L) GRANT IN AID-VRS LoSfPNd lsok&fuo`frr ;kstuk ds fy, lgk;rk vuqnku ds mi;ksx dh x.kuk udn vk/kkj ij dh tkrh gsa Utiliztion of Grnt in Aid ginst Voluntry Retirement Scheme is ccounted for on csh bsis. ¼M½ fons'k eqnzk ysunsu (M) FOREIGN CURRENCY TRANSACTIONS Hkkoh Bsdks es 'kkfey u dh xbz fons'kh eqnzk ifjlifrr;ks vksj ns;rkvks dks o"kz ds vr es fo eku njks ij fy[kk tkrk gsa vu; dksbz fofue; vrj dks ykhk vksj gkfu ys[kk es Mkyk Foreign currency ssets nd libilities not covered by forwrd contrcts re stted t rtes ruling t the yer end. Exchnge differences relting to fixed ssets re djusted 143

146 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k ¼tkjh½ NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES (CONTD.) tkrk gsa in the cost of the ssets. Any other exchnge differences re delt with in the Profit nd Loss Account. ¼<½ vklfkfxr djk/kku (N) DEFERRED TAXATION vklfkfxr dj dks foosdkuqlkj fopkj djus] le; vrjky] dj ;ksx;,o ys[kkdj.k vk;@o;; ds chp vrj gksus ij eku;rk nh tkrh gs tks,d vof/k es gksrh gs rfkk ftles ckn dh,d ;k vf/kd vof/k@vof/k;ks dks mykvus dh {kerk gksa vklfkfxr dj ifjlifrr;ks dks rc rd eku;rk ugh nh tkrh tc rd fd ;g ^^oklrfod :i ls fuf'pr^^ u gks fd i;kzir Hkkoh dj ;ksx; vk; miyc/k gksxh] ftudh rqyuk es bugs,sls vklfkfxr dj dh ifjlifrr;ks dks izkir dj fy;k tk,xka Deferred tx is recognized, subject to considertion of prudence, on timing differences, being difference between txble nd ccounting income/expenditure tht originte in one period nd re cpble of reversl in one or more subsequent period(s). Deferred Tx Assets re not recognized unless there is "Virtul Certinty" tht sufficient future txble income will be vilble ginst which such deferred tx ssets will be relized. ¼.k½ ifjlifrr;ks dh gkfu (O) IMPAIRMENT OF ASSETS fdlh lifrr dks rc gkfu ekuk tkrk gs tc ifjlifrr;ks dh fu"iknu ykxr blds olwyh ;ksx; ewy; ls c<+ tk,a bl gkfu dks ml o"kz ds ykhk vksj gkfu ys[kk es Mkyk tkrk gs ftl o"kz es fdlh ifjlifrr dh gkfu ds :i es igpku vksj?kks"k.kk dh tkrh gsa ys[kk&iwoz vof/k es eku; gkfu dks rhkh myvk tkrk gs tc olwyh ;ksx; jkf'k ds vuq qeku es dksbz ifjorzu gksrk gsa An sset is treted impired when the crrying cost of ssets exceeds its recoverble vlue. An impirment loss is chrged to the Profit & Loss Account in the yer in which n sset is identified nd declred s impired. The impirment loss recognized in prior ccounting period is reversed if there hs been chnge in the estimte of recoverble mount. ¼r½ fuos'k (P) INVESTMENTS lhkh fuos'kks dk myys[k ykxr ij fd;k x;k gsa rfkkfi] fuos'kks ds ewy; es vlfkk;h ds vykok fxjkov dk irk yxkus ds fy, ewy; es gzkl dk izko/kku fd;k x;k gsa All investments re stted t cost. However, provision for diminution in vlue is mde to recognize decline other thn temporry in the vlue of investment. 144

147 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 1 % egroiw.kz ys[kkdu uhfr;k ¼tkjh½ NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES (CONTD.) cksmz ds fy, vksj mudh vksj ls For nd on behlf of the Bord g0@& g0@& g0@& ¼vkj-ds- xqirk½ ¼lh-oh- Ñ".kk½ ¼,u-ds- lkgk½ diuh lfpo funs'kd funs'kd ¼mRiknu½@ v/;{k vksj izc/k funs'kd Sd/- Sd/- Sd/- (R.K.Gupt) (C.V. Krishn) (N.K. Sh) Compny Secretry Director Director (Production)/ Chirmn & Mnging Director lel[;d rkjh[k dh gekjh fjiksvz ds vuqlkj In terms of our report of even dte Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj QeZ ith- l- % bZ For G. Choudhury & Assocites Chrtered Accountnts Firm Regn. No E g0@& ¼xksiky pks/kjh½ ikvzuj lnl;rk l Gopl Choudhury PARTNER Membership No LFkku % ubz fnyyh fnukd % 24 flrcj] 2012 Plce : New Delhi Dte : September 24,

148 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k fvii.kh 2- forrh; fooj.kks ij fviif.k;k NOTE 2. NOTES ON FINANCIAL STATEMENTS ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-1 % 'ks;j iwth izkf/kd`r iwth % izr;sd 1000@& #i, ds 51]00]00 bfdovh 'ks;j tkjh] vfhknrrk vksj iznrr iwth % izkseksvjks dk ;ksxnku izr;sd 1000@& #i, ds 100 bfdovh 'ks;j vu; Hkkjr ljdkj dks tkjh izr;sd 1000@& #i, ds bfdovh 'ks;j ftles ls izr;sd 1000@& #i, ds lke;k 'ks;j ftugs fgnqlrku QfVZykbtj dkwikszjs'ku fyfevsm }kjk ls rd fuoy ifjlifrr;ks ds vrj.k ds fy, tkjh fd;k x;k FkkA NOTE 2.1 : SHARE CAPITAL Authorised Cpitl : 51,00,000 Equity Shres of R 1,000/- ech 51, , Issued, Subscribed & Pid up Cpitl : Promoters' Contribution 100 Equity Shres of R 1,000/- ech Others 36,58,224 Equity Shres of R 1,000/- ech 36, , issued to Govt. of Indi out of which 30,70,224 Equity Shres of R 1,000 /- ech issued ginst trnsfer of Net Assets s t w.e.f from Hindustn Fertilizer Corportion Limited. 36, , % 'ks;jks ls vf/kd ds 'ks;j/kkjd j[kus okyks dk C;ksjk % The detils of shreholders holding more thn 5% shres : Ø-l- 'ks;jks dh l- 'ks;j /kkjdks dk uke /kkfjr izfr'kr /kkfjr izfr'kr Hkkjr ljdkj 100% 100% Sl.No. No. of shres Nme of Shre holders % held % held Govt. of Indi 100% 100% fooj.k fvii.kh 2-2 % vkj{k.k vksj vf/k'ks"k ykhk vksj gkfu [kkrk vf/k'ks"k cdk;k tek% o"kz ds nksjku ykhk@¼gkfu½ vr 'ks"k ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, NOTE 2.2 : RESERVES AND SURPLUS Profit nd Loss Account Opening Blnce (64,966.13) (56,456.80) Add: During the yer Profit/(Loss) (12,881.44) (8,509.33) Closing Blnce (77,847.57) (64,966.13) 146

149 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-3 % nh?kkzof/k m/kkj 1- vlqjf{kr _.k Hkkjr ljdkj ls _.k ;ksx 2- nh?kkzof/k m/kkj dk cdk;k % Ø-l- _.k dh izñfr 1- iqu#)kj ds fy, ;kstuk _.k 2- uohdj.k vksj izfrlfkkiu ds fy, ;kstuk _.k 3- xsj&;kstuk _.k ;ksx NOTE 2.3 : LONG-TERM BORROWING 1. Unsecured Lon Lon from Govt. of Indi 28, , Totl 28, , Blnces of Long Term Borrowing: Sl.No. Nture of lon ($ In lcs) ($ In lcs) 1. Pln Lon for Revmp 7, , Pln Lon for Renewl & Replcement 19, , Non - Pln Lon 1, , Totl 28, , iqu% Hkqxrku vof/k% Hkkjr ljdkj ds m/kkj ls _.k 4- diuh dks fu;+=d ys[kk dk;kzy;] mozjd e=ky;@fohkkx] ubz fnyyh ls fnukd dk,d i= izkir gqvk gs ftles 31 ekpz 2012 rd Hkkjr ljdkj ds _.k ij cdk;k vksj ml ij C;kt dh iqf"v dh xbz gsa 3. Repyment Period: 1-2 yers 3-4 yers Beyond 4 yers Lon from GOI Borrowings 2, , , The compny hs received letter No. G-25020/11/ /PAO/Ferts/376 dtd from Office of the Controller of Accounts, Ministry / Deprtment of Fertilizers, New Delhi confirming the outstnding blnce of GoI Lon nd Interest thereon s on 31st Mrch fvii.kh 2-4 % vu; nh?kkzof/k nsunkfj;k 1- fueufyf[kr ls izkir lqj{kk tek jkf'k d½ vkiwfrzdrkz [k½ Bsdsnkj x½ dezpkjh?k½ xzkgd 2-,p,Qlh,y dks ns; ¼vrj diuh cdk;k½ NOTE 2.4 : OTHER LONG-TERM LIABILITIES 1. Security deposit received from ) Suppliers b) Contrctors c ) Employees d) Customers Pyble to HFCL (Inter compny blnces) 1, ,

150 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-5 % nh?kkzof/k izko/kku 1 dezpkjh ykhk ds fy, izko/kku minku ds fy, izko/kku NqV~Vh udn Hkqxrku ds fy, izko/kku ;ksx 2,,l 15 ¼l'kksf/kr½ ds vuqlj.k es mn~?kkvu & dezpkjh ykhk% diuh us vkbzlh,vkbz }kjk tkjh dezpkjh ds ykhk ds fy,,,l 15 ¼l'kksf/kr 2005½ viuk;k gsa vxhdj.k ds ifj.kkelo:i] ys[kkdu] vkfn ls lcf/kr fueufyf[kr mn~?kkvu,,l 15 ¼l'kksfèkr 2005½ ds vrxzr O;ogk;Z ds vuqlkj cuk, x, gsa 2-1½ ifjhkkf"kr v'knku ;kstuk, dezpkfj;ks vksj dk;zikydks ds fy, Hkfo"; fufèk es diuh dk v'knku yk[k #i, gsa ¼fiNyk o"kz yk[k #i,½ 2-2½ ifjhkkf"kr ykhk ;kstuk, ykhk ifj;kstuk,] tks izpkyu es gs] Hkfo"; fufèk vksj fo'ks"k NqV~Vh gsa ck/;rk dk orzeku ewy; ifj;kstuk bdkbz _.k ¼ih;wlh½ dk iz;ksx djds chekfdd ewy; ds vk/kkj ij fu/kkzfjr fd;k tkrk gs] ftles lsok dh izr;sd vof/k dks dezpkjh ds ykhk dh ik=rk dh vfrfjdr bdkbz c<+kok nsrs gq, eku;rk nh tkrh gs rfkk vfre ck/;rk dks cukus ds fy, vyx ls izr;sd bdkbz dks ekik tkrk gsa fo'ks"k NqV~Vh ds fy, ck/;rk dks minku ds :i es mlh <x ls eku;rk nh tkrh gsa 2-3½ chekfdd }kjk izekf.kr vuqlkj fofhkuu vkdms% d- fuf'pr ykhk ck/;rk ds vkfn vksj vr cdk;k es lek;kstu ¼R yk[k es½ minku fo'ks"k fuf/k NqV~Vh o"kz ds 'kq: es ck/;rk dk orzeku ewy; vtzu lek;kstu C;kt ykxr finyh lsok ykxr orzeku lsok ykxr dvksrh ykxr fuivku ykxr fn, x, ykhk ck/;rkvks dk chekfdd ykhk@¼gkfu½ dks lekir o"kz ds vr es ck/;rk dk orzeku ewy; NOTE 2.5 : LONG-TERM PROVISIONS 1 Provisions for Employee Benefits Provision for Grtuity 3, , Provision for Leve encshment 1, Totl 4, , Disclosure pursunt to AS 15 (Revised) 2005)- Employee Benefits: The Compny hs dopted AS 15 (Revised 2005) for Employee Benefits issued by ICAI. Consequent to the doption, the following disclosures relted to ccounting etc. re mde s fr s prcticble under AS 15 (revised 2005) requirement. 2.1) Defined Contribution Plns The Compny's contribution to Provident Fund for employees nd executives is R lcs (Previous yer R lcs) 2.2) Defined Benefit Plns The Benefit Plns which re in opertion re Grtuity Fund nd Privilege Leve. The present vlue of the obligtion is determined bsed on Acturil Vlution using the Project Unit Credit (PUC) method, which recognizes ech period of service s giving rise to dditionl unit of employee benefits entitlement nd mesures ech unit seprtely to build up the finl obligtion. The obligtion for Privilege Leve is recognized in the sme mnner s grtuity. 2.3) Vrious dt s certified by Actury :- A. Reconcilition of opening nd closing blnce of Defined benefits Obligtion Grtuity Fund (R In lcs) Privilege Leve Present vlue of Obligtion t Beginning of the yer 2, Acquisition Adjustment - - Interest Cost Pst Service Cost - - Current Service Cost Curtilment Cost - - Settlement Cost - - Benefits Pid (407.96) (230.68) Acturil gin/(loss) of obligtions (287.76) (175.43) Present vlue of obligtion t the end of the yer 3, , i.e

151 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-5 % nh?kkzof/k izko/kku ¼tkjh½ [k- l;= ifjlifrr;ks ds mfpr ewy; es ifjorzu n'kkzus okyk fooj.k ykxw ugh gksrk D;ksfd ;kstuk ij forr&iks"k.k ugh fn;k tkrka x- fofufnz"v ykhk ck/;rk vksj ;kstuk ifjlifrr;ks ds mfpr ewy; ds orzeku ewy; es iqu% lek;kstu ykxw ugh gksrk D;ksfd ;kstuk ij forr&iks"k.k ugh fn;k tkrka?k- ykhk@gkfu ds fooj.k es eku;rkizkir O;; minku fo'ks"k fuf/k NqV~Vh orzeku lsok ykxr finyh lsok ykxr C;kt ykxr ;kstuk ifjlifrr;ks ij visf{kr izfrykhk dvksrh ykxr fuivku ykxr ck/;rkvks dk chekfdd ykhk@¼gkfu½ ykhk@gkfu ds fooj.k es irk yxk, x, O;; M- chekfdd vuqeku minku fo'ks"k fuf/k NqV~Vh ekfld rkfydk ¼,yvkbZlhvkbZ½ vf/kof"kzrk vk;q le;&iwoz lsok&fuo`frrk vksj fodykxrk ¼10 izfr gtkj izfrekg½ & vk;q 45 o"kz ls vf/kd & vk;q 29 vksj 45 o"kz ls vf/kd & vk;q 29 o"kz ls de NwV nj eqnzk LQhfr nj lhkkfor izfrykhk nj 'ks"k dk;z thou p- mi;qzdr ij fviif.k;k diuh dh Hkfo"; fuf/k ij dezpkjh Hkfo"; fuf/k vksj fofo/k izko/kku vf/kfu;e] 1952 dh /kkjk 17 ds vrxzr NwV izkir gsa NwV iznku djus dh 'krz es ;g fu/kkzfjr gs fd dezpkjh VªLV }kjk?kksf"kr C;kt nj dh rqyuk es bzih,q dh lkfof/kd nj es deh] ;fn dksbz gks] dks iwjk djsxk vksj is'ku ykhk nsus es deh] ;fn dksbz gks] dks dezpkjh is'ku fuf/k es dsiuh }kjk iwjk fd;k tk,xka VªLV }kjk izcf/kr fuf/k dh ifjlifrr;ks ds lc/k es diuh dks Hkfo"; es dksbz deh gksus dk vuqeku ugh gsa NOTE 2.5 : LONG-TERM PROVISIONS (Contd.) B. Sttement showing chnge in fir vlue of plnt ssets Not Applicble s Scheme is unfunded. C. Reconcilition of present vlue of defined benefit obligtion nd fir vlue of pln ssets. Not Applicble s Scheme is unfunded. D. Expenses Recognized in Sttement of Profit/Loss Grtuity Fund Privilege Leve Current Service Cost Pst Service Cost - - Interest Cost Expected return on Pln Assets - - Curtilment Cost - - Settlement Cost - - Acturil gin/(loss) of obligtions Expenses Recognized in Sttement of Profit/Loss E. Acturil Assumptions Grtuity Fund Privilege Leve Monthly Tble (LICI) Supernnution Age Erly Retirement & Disblement (10 Per Thousnd P.A) - ge bove ge between 29 nd ge below Discount Rte 8.0% 8.0% Infltion Rte 5.0% 5.0% Expected Rte of Return 0.0% 0.0% Remining Working Life 9 9 F. Notes on bove The Compny's Provident fund is exempted under section 17 of Employees Provident Fund & Misc. Provisions Act, Conditions for grnt of exemptions stipulte tht the employer shll mke good the deficiency, if ny, in the interest rte declred by the trust vis-à-vis sttutory rte of EPF nd deficiency, if ny in extending the pensionry benefits will be mde good by the Compny in the Employee Pension Fund. Hving regrd to the ssets of the Fund mnged by the Trusts nd the return on the investments, the Compny does not expect ny deficiency in the foreseeble future. 149

152 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-6 % O;kikj ns;rk, 1 d½ lw{e] y?kq vksj e/;e m e [k½ vu; ;ksx 2,e,lbZ dh mi;qzdr jkf'k miyc/k lwpuk ls fudkyk xbz gsa mi;qzdr ns;rkvks dks Hkqxrku 30 fnuks ds vnj fd;k x;k gsa lw{e] y?kq vksj e/;e m e fodkl vf/kfu;e] 2006 ¼,e,l,ebZMh vfèkfu;e½ ds vrxzr ij cdk;k jkf'k dk C;ksjk diuh ds ikl miyc/k lwpuk ij vk/kkfjr gs tks fueu izdkj gsa fooj.k d- ewy ns; jkf'k vksj Hkqxrku u dh xbz cdk;k jkf'k [k- mi;qzdr ¼d½ ij ns; jkf'k vksj Hkqxrku u fd;k x;k C;kt x- lhkh,e,l,ebzmh vf/kfu;e ds vrxzr foyc ls fd, x, lhkh Hkqxrkuks ij fn;k x;k C;kt?k- o"kz ds nksjku fu;qr fnu ds ckn fd;k x;k Hkqxrku M- mi;qzdr ¼x½ ds vykok foyc dh vof/k ds fy, ns; vksj fn;k x;k C;kt p- izksn~hkwr C;kt vksj Hkqxrku u dh xbz 'ks"k jkf'k N- vkus okys o"kksz es vkxs ns; vksj fn;k tkus okyk C;kt NOTE 2.6 : TRADE PAYABLES 1 ) Due to Micro, Smll & Medium enterprises b) Others 6, , Totl 6, , Above mount of MSE hs been identified from vilble informtion. Above dues hve been pid within 30 dys. The detils of mounts outstnding to Micro, Smll nd Medium Enterprise under the Micro, Smll md Medium Enterprises Development Act, 2006 (MSMED Act), bsed on the vilble informtion with the Compny re s under. Prticulrs As t As t Principl mount due nd remining unpid - - b. Interest due on () bove nd unpid interest - - c. Interest pid on ll delyed pyments - - under the MSMED Act d. Pyment mde beyond the ppointed dy - - during the yer e. Interest due nd pyble for the period of - - dely other thn (c) bove f. Interest ccrued nd remining unpid - - g. Amount of further interest remining due nd - - Pyble in succeeding yers 150

153 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-7 % vu; orzeku ns;rk, Hkkjr ljdkj ds nh?kkzof/k m/kkj dh orzeku ns;rk, Hkkjr ljdkj ds m/kkj ij izksn~hkwr C;kt vksj ns;rk, izksn~hkwr C;kt tks Hkkjr ljdkj ds m/kkj ij cdk;k u gks lkfof/kd izs"k.k ¼Hkfo"; fuf/k] osv] jksdk x;k dj] mrikn 'kqyd] lsok dj vkfn½ fu;r ifjlifrr;ks dh [kjhn ij ns;rk, izkir O;kikj@lqj{kk tek jkf'k xzkgdks ls vfxze vu; i½ O;kikj ns;rkvks ds vykok fofo/k ysunkj ii½ O;; ns;rk iii½ vu; ns;rk, iv½ Hkqxrku u dh xbz etnwjh NOTE 2.7 : OTHER CURRENT LIABILITIES Current dues of GOI Long Term Borrowing 30, , Interest ccrued nd due on GOI borrowings 47, , Interest ccrued but not due on GOI borrowings 2, , Sttutory remittnces ( Contributions to PF, VAT Withholding txes, Excise Duty,VAT, Service Tx etc) Pyble on purchse of Fixed Assets Trde / Security deposits received Advnces from customers , Others i) Sundry Creditors other thn Trde Pybles 3, , ii) Libility for expenses 2, , iii) Other libilities 1, iv) Unpid wges , , fnukd ds i= l-11013@2012@2387 }kjk lhvkbz,l,q }kjk nkok fd, x, vuqlkj foyc ls fd, x, Hkqxrku ij djksm+ #i, dh jkf'k dks cgh [kkrks es ntz ugh fd;k x;k gs D;ksfd dkikszjs'ku us bls ekq djus ds fy, iz'kklfud e=ky; ls vuqjks/k fd;k gsa An mount of R lcs towrds interest on delyed pyment s climed by CISF vide letter No / 2012 / 2387 dt hs not been ccounted in the books of ccounts s corportion hs requested to Administrtive Ministry for its wiver. 151

154 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) fvii.kh 2-8 % fu;r ifjlifrr;k fooj.k NOTE 2.8 : FIXED ASSETS GROSS BLOCK ¼#- yk[kks es½ (R in Lcs) PARTICULARS As t Additions Adjustments As t d- ewrz ifjlifrr;k Hkwfe ÝhgksYM iv~vk /kkfjr Hkou fo qr LFkkiuk, l;= vksj e'khujh QSDVjh vksj dk;kzy; midj.k QuhZpj vksj fqdlpj di;wvj okgu lm+ds] iqy vksj iqfy;k jsyos lkbfmx ty iz.kkyh ;ksx ¼d½ [k- vewrz ifjlifrr;k di;wvj lk Vos;j ;ksx ¼[k½ ¼d$[k½ dk ;ksx finyk o"kz fodkl v/khu ifj;kstuk, py jgk iwthxr dk;z A. TANGIBLE ASSETS Lnd Freehold Lesehold Buildings 3, , Electricl Instlltions Plnt nd Mchinery 95, , , Fctory & Office Equipment Furniture nd Fixtures Computer Vehicles Rods Bridges & Culverts Rilwy Sidings Wter System Totl (A) 102, , , B. INTEANGIBLE ASSETS Computer softwre Totl of (B) Totl of (A+B) 102, , , Previous yer 101, , Project under Development Cpitl Work in Progress 3, ,

155 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) DEPRECIATION / AMORTISATION PROVISION FOR IMPAIREMENT NET BLOCK As t For the Prior Adjustments Upto As t As t As t As t Yer period Adjustment , , , , , , , (0.13) (0.20) , , (0.20) 62, , , , , (0.20) 62, , , , , , , , , , ,

156 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) 1- fnukd 01 vizsy 2002 dks fgunqlrku QfVZykbtj dkikszjs'ku fyfevsm ls yh xbz fu;r ifjlifrr;ks ij ewy ykxr vksj lcf/kr,df=r ewy; gzkl 'kkfey gsa 2- ¼d½ Hkwfe es vufre ykxr ij cqd dh xbz 4-49 yk[k #i, ¼fiNys o"kz 4-49 yk[k #i,½ dh jkf'k 'kkfey gs tks ewy; dks vfre :i nsus U;k;ky; ds fu.kz; gksus rd yfcr gsa ¼[k½ uke:i&aa es Hkwfe [kkrs es 2-67,dM+ ¼fiNys o"kz & 2-67,dM+½ ds fy, djkj vhkh fd;k tkuk gsa 3- ewy; gzkl miyc/k djk;k x;k gs ;k vu;fkk uhps fn, x, vuqlkj x;k gs%& ¼#i, yk[k es ½ 2011& &11 ykhk vksj gkfu ys[kk ] tek% iwoz vof/k lek;kstu ¼fuoy½ dqy ewy; gzkl 4] ] flrcj 2002 ls uke:i&a l;= dk izpkyu cn dj fn;k x;k FkkA uke:i&a ¼veksfu;k&A½ dk vkxs izpkyu ;k vu;fkk osdfyid mi;ksx ;k cn djus ds ckjs es Hkkjr ljdkj dk fu.kz; yfcr gksus rd ifjlifrr;ks dh gkfu ds lc/k es ewy;kdu ys[kkdu ekud ¼,,l½ & 28 ds vrxzr ewy;kdu vuqeksfnr ewy;kdudrkz ^esllz ds-mhdksgyh,lksfl,v~l] ubz fnyyh }kjk fd;k x;k FkkA mudh fjiksvz ds vuqlkj uke:i&a ¼veksfu;k&A½ l;= ds csdkj im+ s gksus dk ewy;kdu 3] yk[k #i, ds vfdr ewy; dh rqyuk es 1] yk[k #i, fu;r fd;k x;k FkkA blfy, diuh us forrh; o"kz 2008&09 ds nksjku 2] yk[k #i, dh jkf'k ds uke:i&a ¼veksfu;k&A½ l;= dh gkfu ds fy, izko/kku fd;k FkkA forrh; o"kz 2009&10 ds nksjku diuh dh vkrfjd rduhdh lfefr us ;g irk yxk;k fd iqu#)kj ds nksjku uke:i&aa vksj AAA l;=ks es uke:i&a l;= 1. Includes originl cost nd corresponding ccumulted deprecition on Fixed Assets tken over from Hindustn Fertilizer Corportion Limited s on 1st April, () Lnd includes r 4.49 lcs (Previous Yer - r 4.49 lcs) booked t provisionl cost pending finliztion of price wrded nd/or court decision. (b) Agreement remins to be executed for 2.67 cres (Previous Yer cres) of Lnd A/c. Nmrup-III. 3. Deprecition hs been provided or otherwise chrged/written-bck s detiled below :- (r in lcs) Profit & Loss Account , Add: Prior period djustments (net) Totl Deprecition 4, , The opertion of Nmrup-I Plnt ws suspended since September, Pending decision of GOI bout further opertion or otherwise lterntive use or closure of Nmrup-I (Ammoni-I) plnt, vlution under Accounting Stndrd (AS)-28 with regrd to impirment of ssets ws done by M/s K.D Kohli Assocites, New Delhi, pproved vluers. As per their report, vlution under redundnt condition of Nmrup-I (Ammoni-I) plnt ws fixed t r 1, lcs s ginst book vlue of r 3, lcs. Thus, the Compny hd mde provision for impirment loss of Nmrup-I (Ammoni-I) plnt mounting to r 2, lcs during the finncil yer During finncil yer , n in-house Technicl Committee of the compny identified tht equipments nd spres of Nmrup I plnt were 154

157 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ds midj.kks vksj vfrfjdr iqtksz dk iz;ksx fd;k x;k Fkk ysfdu mudh igys x.kuk ugh dh xbz Fkh tks yk[k #i, Fkh ¼iw thxr HkMkjks es ls yk[k #i, lfgr½a iwthdj.k dh rkjh[k dh ds :i es igpku dh xbz Fkh vksj rnuqlkj jkf'k dks iw thñr fd;k x;k Fkk vksj fu;ekuqlkj ewy; gzkl fd;k x;k FkkA bl iw thdj.k dks ns[krs gq, diuh us forrh; o"kz 2009&10 ds nksjku vuqekfur vk/kkj ij yk[k #i, ¼ yk[k #i, dk 70%½ ds gkfu izko/kku dks iqu% ntz fd;k x;k gsa 5- diuh vf/kfu;e] 1956 ds vuqlkj l;= vksj e'khujh ¼iqu#)kj½ ds ewy; gzkl ls lcf/kr ys[kkdu izfø;k es ifjorzu dk izhkko 5-28% dh rqyuk es 6-33% dh nj ls gqvk gs tks yk[k #i, ¼fiNys o"kz yk[k #i,½ csbrk gs rfkk o"kz ds vr rd mldk lp;h izhkko 4] yk[k #i, ¼fiNys o"kz 3] yk[k #i,½ gsa ;g ifjorzu,qvkbzlhlh ewy;&fu/kkzj.k uhfr rfkk o"kz 2002&03 ds nksjku ljdkjh ys[kk&ijh{kk ds lq>koks ds vuqlkj ykxw fd;k x;k gsa used in Nmrup II nd III plnt during revmp, but were not ccounted for erlier to the extent of r lcs (including r lcs out of cpitl stores.) The dte of cpitlistion ws identified s nd ccordingly the mount ws cpitlised nd deprecition chrged s per rules. In view of this cpitlistion, the compny hs written bck the impirment provision to the extent of r lcs (70% of r lcs) on the estimted bsis during finncil yer The effect of chnge in ccounting tretment with regrd to chrging deprecition on Plnt & Mchinery 6.33% s ginst 5.28% s per the Compnies Act, 1956 hs been worked out to be r lcs for the yer (previous yer r lcs) nd the cumultive effect thereof up to the yer end is r 4, lcs (Previous yer r 3, lcs). The chnge is effected in view of FICC Pricing Policy nd s per the suggestions of the Govt. Audit during

158 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-9 % nh?kkzof/k _.k vksj vfxze d½ iwth vfxze jf{kr] fopkjkfkz olrq vjf{kr] fopkjkfkz olrq lfnx/k?kvk% lfnx/k vfxzeks ds fy, izko/kku NOTE 2.9 : LONG TERM LOAN AND ADVANCES ) Cpitl Advnces Secured, considered good - - Unsecured, considered good Doubtful Less: Provision for doubtful dvnces (26.63) (25.61) [k½ etnwjh l'kks/ku 2007 ds vuqeku es dezpkjh vfxze vjf{kr] fopkjkfkz olrq ;ksx ¼d$[k½ b) Employee Advnces in nticiption of wge revision of 2007 Unsecured, considered good Totl (+b) fvii.kh 2-10 % vu; xsj orzeku ifjlifrr;k vu; cv~vs [kkrs es u Mkyk x;k vklfkfxr jktlo O;; ;ksx o"kz ds nksjku yk[k #i, ¼fiNys o"kz ^'kwu;^½ dh mrizsjd jkf'k dh ykxr dks vkiwfrzdrkz }kjk izekf.kr vuqlkj mrizsjd dh vk;q ds vk/kkj ij x.kuk dh xbz gsa rnuqlkj] mrizsjd dh 'ks"k vk;q ls lcf/kr yk[k #i, ¼fiNys o"kz yk[k #i,½ dh ykxr dh ckn ds o"kksz es cv~vs [kkrs es Mkys tkus okys vklfkfxr jktlo [kpz ds vuqlkj x.kuk dh xbz gsa NOTE 2.10 : OTHER NON CURRENT ASSETS Others Deferred Revenue expenditures not written off Totl The cost of ctlyst mounting to R lcs dded during the yer (previous yer R nil)hve since been ccounted for on the bsis of life of ctlyst s certified by the supplier. Accordingly, the cost relted to remining life of the ctlyst mounting to R (previous yer R ) lcs hs been ccounted for s deferred revenue expenditure to be written off in subsequent yers. 156

159 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-11 % eky lwph 1- veksfu;k ds {ks= es py jgk dk;z ¼vuqekfur ykxr ;k fuoy izkfir ewy; ls de ewy; ij½ 2- rs;kj olrq, ¼O;kikj ;wfj;k dh izkfir ds vykok½ ¼vuqekfur ykxr ;k fuoy izkfir ewy; ls de ewy; ij½ ftles ykxw izfr/kkj.k ewy; jktlgk;rk ds rro vksj HkkM+k jktlgk;rk 'kkfey gsa tgk HkkM+k O;; jktlgk;rk ls vf/kd gs ¼ekxZLFk LVkWd es 'kkfey gs½ 3- LVkWd&bu&VªsM ¼O;kikj ds fy, izkir½ ¼ykxr ;k fuoy izkfir ewy; ls de ewy; ij½ 4- vu; [kk kuuks dk LVkWd isfdx lkefxz;ks dk LVkWd fujh{k.k ds v/khu HkMkj vksj vfrfjdr iqtsz ekxzlfk es HkMkj ¼ykxr ;k fuoy izki; ewy; ls de ewy; ij½ 5- HkMkj vksj vfrfjdr iqts± ¼ykxr ij½?kvk % d½ iqjkusiu ds fy, izko/kku [k½ deh ds fy, izko/kku NOTE 2.11 : INVENTORIES 1. Work in Progress of Ammoni (Vlued t lower of Estimted Cost or Net Relisble Vlue) 2. Finished goods (other thn those cquired for Trding Ure) (Vlued t lower of Estimted Cost or Net Relisble vlue including Elements of Retention Price Subsidy pplicble & Freight Subsidy. Where Freight expenses re more thn the Subsidy (includes in trnsit Stocks) 3. Stock-in-trde (cquired for Trding) (Vlued t lower of cost or Net Relisble Vlue) 4. Others Stock of Food Grins Stock of Pcking Mterils Stores & Spres under inspection Stores in Trnsit (Vlued t lower of cost or Net Relisble Vlue) Stores nd spres (At cost) 4, , Less : ) Provision for obsolescence (962.46) (962.80) b) Provision for shortge (30.67) (30.67) 3, , ;ksx Totl 3, , forrkh; o"kz 2010&11 ds nksjku rs;kj olrq eè;ofrz;ks rfkk isfdx lkefxz;ks ¼,pMhihbZ csx½ dk oklrfod lr;kiu fd;k x;k vksj ikbz xbz dfe;ks@{kfr dks [kkrks es mfpr izdkj ls ntz fd;k x;k gsa cgh fjdkmksz lfgr HkMkjks vksj vfrfjdr iqtksz ds HkkSfrd lr;kiu ds nksjku vfu;ferrk, ikbz xbz Fkh ftlds fy, diuh us forrh; o"kz 2010&11 ds nksjku yk[k #i, miyc/k djk, gsa 6. Physicl verifiction of Finished Goods Intermediries, nd pcking Mterils (HDPE Bgs) hve been crried out during the finncil yer nd discrepncies/ dmges found hve been properly delt with in the ccounts. Discrepncies were noticed during physicl verifiction of stores nd Spres with book records ginst which the compny hs provided R lcs during the finncil yer

160 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-12 % O;kikj izki; Hkqxrku ds fy, ns; rkjh[k ls N% ekg ls vf/kd vof/k ds fy, cdk;k izki; O;kikj jf{kr] fopkjkfkz olrqq vjf{kr] fopkjkfkz olrqq lfnx/k jkf'k?kvk% lfnx/k O;kikj izki; ds fy, izko/kku vu; O;kikj izki; jf{kr] fopkjkfkz olrqq vjf{kr] fopkjkfkz olrqq lfnx/k jkf'k?kvk% lfnx/k O;kikj izki; ds fy, izko/kku NOTE 2.12 : TRADE RECEIVABLES Trde receivbles outstnding for period exceeding six months from the dte they were due for pyment Secured, considered good - - Unsecured, considered good 1, Doubtful - - 1, Less: Provision for doubtful trde receivbles - - 1, Other Trde receivbles Secured, considered good - - Unsecured, considered good 9, , Doubtful - - 9, , Less: Provision for doubtful trde receivbles - - 9, , ;ksx Totl 10, , fvii.kh 2-13 % udn vksj udn led{k d udn vksj udn led{k ¼d½ gkfk es udnh ¼[k½ gkfk es psd] Mªk V ;ksx ¼d½ [k vu; csd cdk;k ¼i½ ¼ii½ orzeku ys[kk es vkof/kd tek jkf'k es ¼rhu ekg ;k de dh ifjidork okys½ ¼iii½ vkof/kd tek jkf'k es ¼ckjg ekg ;k de dh ifjidork okys½ ¼iv½ m/kkj] xkjvh vksj vu; opuc)rkvks dh rqyuk es ekftzu /kujkf'k ;k lqj{kk ds :i es j[kh xbz cdk;k jkf'k ;ksx ¼[k½ ;ksx ¼d $ [k½ NOTE 2.13 : CASH AND CASH EQUIVALENTS A B Csh nd Csh Equivlent () Csh on hnd (b) Cheques, drfts on hnd Totl (A) Other Bnk Blnces (i) In Current Accounts 1, (ii) In Term deposit ccounts 7, , (Hving mturity of three months or less) (iii) In Term deposit ccounts 12, , (Hving mturity of twelve months or less) (iv) Blnces held s mrgin money or , security ginst borrowings, gurntees nd other commitments Totl (B) 23, , Totl (A + B) 23, ,

161 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-14 % vyikof/k _.k vksj vfxze vjf{kr] fopkjkfkz olrq dezpkfj;ks ¼vU;½ dks _.k vksj vfxze Bsdsnkjks dks vfxze mrikn vksj ljdkjh izkf/kdkfj;ks ds ikl tek jkf'k vkiwfrzdrkzvks dks vfxze vu; vfxze vu; izki; vjf{kr] fopkjkfkz lfnx/k jkf'k vu; izki;?kvk% lfnx/k jkf'k ds fy, izko/kku vkiwfrzdrkzvks dks lfnx/k jkf'k dk vfxze?kvk% lfnx/k _.k vksj vfxze ds fy, izko/kku iwoz iznrrk O;; ;ksx vu; izki;ks es izkir fdjk, dh rqyuk es ns; jkf'k 'kkfey gsa izc/ku ch,l,u,y] iqfyl fohkkx izkfèkdkfj;ks] ljdkjh LokLF; fohkkx vksj vu; O;fDr;ks tslh ikfvz;ks ls ckrphr djds izki; fdjk, dks fu;fer djus ds fy, vko';d dkjzokbz dj jgk gsa mi;qzdr izfø;k ds Hkkx ds :i es dqn ikfvz;ks ls ns;rk, izkir gks xbz gsa blds vykok] nksf"k;ks dks psrkouh i= Hkh tkjh fd, x, gsa NOTE 2.14 : SHORT TERM LOANS AND ADVANCES Unsecured, considered good Lons nd dvnces to employees (other) Advnce to contrctors Deposit with Excise & Govt. Authorities Advnce to suppliers Other Advnces Other Receivble Unsecured, considered doubtful Other Receivble Less: Provision for doubtful (53.10) (52.35) Doubtful dvnces to suppliers Less: Provision for doubtful lons nd dvnces (23.68) (19.91) Prepid expenses Totl Others receivble includes mount due ginst rent receivble.the mngement is tking necessry ction to regulrize the rent receivbles, by clling on the prties like BSNL, Police Deprtment uthorities, Govt. helth deprtment nd other individuls.dues from some of the prties hve been received s prt of bove process. Moreover, wrning letters hve lso been issued to the defulters. fvii.kh 2-15 % vu; orzeku ifjlifrrk;k lzksr tek jkf'k ij izksn~hkwr C;kt ;ksx NOTE 2.15 : OTHER CURRENT ASSETS Accruls Interest ccrued on deposits Totl

162 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-16 % izpkyuks ls jktlo d- fofufezr mriknks dh fcøh ;wfj;k tso mozjd Ñfe [kkn ^d^ dk ;ksx [k- O;kikj olrqvks dh fcøh cht,evksih dhvuk'kd,l,lih ^[k^ dk ;ksx ¼d$[k½ dk ;ksx izkir@olwyh ;ksx; jktlgk;rk NOTE 2.16 : REVENUE FROM OPERATIONS A. Sle of Mnufctured Products Ure 19, , Bio Fertilizer Vermicompost Totl of 'A' 19, , B. Sle of Trding Goods Seeds MOP 2, Pesticides SSP Totl of 'B' 3, , Totl of (A+B) 23, , Subsidy Received/Recoverble 17, , , ,113.29?kVk mrikn 'kqyd izpkyuks ls jktlo Less Excise Duty Revenue from Opertions 40, , x yk[k #i, ¼fiNys o"kz 22] yk[k #i,½ dh izkir@izki; jktlgk;rk dks ykhk vksj gkfu es tksm+k x;k gs ftles finys o"kksz ls lcf/kr 4] yk[k #i,,qvkbzlhlh }kjk olwyh xbz@vyi Hkqxrku dh xbz jkf'k 'kkfey gsa?k- mozjd m ksx leuo; lfefr ¼,QvkbZlhlh½ ls vf/klwpuk tkjh gksus rd 2] yk[k #i, ¼fiNys o"kz 1] yk[k #i,½ ds c<+s gq, izki; ewy; jktlgk;rk ls lcf/kr lek;kstu dh x.kuk Hkkjr ljdkj }kjk tkjh fn'kkfunsz'kks] uhfr;ks] vuqns'kks vksj Li"Vhdj.k dks /;ku es j[krs gq, izksn~hkwr vk/kkj ij dh xbz gsa C. Subsidy received / receivble of R 17, lcs (previous yer R 22, lcs) credited to profit & loss ccount includes R N I L lcs (previous yer R 4, lcs) being recovery mde/mount short pid by FICC pertining to the erlier yers. D. Pending notifiction from Fertilizer Industry Coordintion Committee (FICC), the djustment relting to escltion price subsidy receivble mounting to R 2, lcs (previous yer R 1, lcs) hs been ccounted for on ccrul bsis tking in to ccount the guidelines, policies, instructions nd clrifictions issued by the Govt. of Indi. 160

163 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-17 % vu; vk; d- C;kt vk; i½ vyikof/k tek jkf'k ij C;kt ¼724]615 #i, ds VhMh,l dh dvksrh finys o"kz 2]479]348 #i,½ ii½ VhMh,l dh olwyh ij C;kt iii½ vu;ks ij C;kt NOTE 2.17 : OTHER INCOME A. Interest income i) Interest on short term deposit 1, (TDS deducted R 724,615 Previous yer R 2,479,348) ii) Interest on refund of TDS iii) Interest on others , [k- dckm+ vksj 'ks"k lkefxz;ks dh fcdh x- dezpkfj;ks ls ykblsl 'kqyd] edku fdjk;k] ikuh ds izhkkjks vkfn dh olwyh?k- izkir deh'ku M- fu;r ifjlifrr;ks dh fcøh ij ykhk p- izko/kku dh vc vko';drk ugh N- ;wfj;k csxks dh ykxr dh olwyh t- vu; ;ksx B. Sle of Scrp & Slvged mterils C. Recovery of Licence fee, house rent from employees wter chrges from employees etc D. Commission received E. Profit on sle of Fixed Assets F. Provision no longer required G. Recovery of Cost of Bgs Ure H. Others Totl 2, , >- ikuh vksj fctyh izhkkjks ¼fiNys o"kz yk[k #i,½ ds dkj.k fdjk, ls izkir yk[k #i, lfgr fdjk, dh olwyha «k- vu; lzksrks ls izkir vk; es,ih,y dks ty dh fcøh yk[k #i, ¼fiNys o"kz 7-04 yk[k #i,½a V- dk'rdkjh vf/kfu;e vksj fu;eks ds vrxzr vfèkdkjks dks cpkus ds fy, nks"kh dk'rdkjks ds f[kykq fdjk, fcy tkjh fd, x, gsa rfkkfi] ^jktlo eku;rk^ ij ys[kkdu ekud 9 ds ckn yk[k #i, ¼37-91 yk[k #i,½ ds cdk;k fdjk, dh rqyuk es 7-75 yk[k #i, ¼fiNys o"kz 7-00 yk[k #i,½ dk izko/kku j[kk x;k gsa I. Recovery of rent includes R lcs from tennt on ccount of wter & electricity chrges (pervious yer R lcs). J. Income from other sources includes sle of wter to APL R lcs (previous yer R 7.04 lcs). K. In order to protect rights under Tenncy Act nd Rules, rentl bills hve been rised ginst the defulting tennts. However, following Accounting Stndrd 9 on "Revenue Recognition), R 7.75 lcs (Previous yer R 7.00 lcs) provision hs been kept ginst rrer rent of R lcs (R lcs). 161

164 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-18 % mihkksx dh xbz lkexzh dh ykxr izkñfrd xsl izkjfhkd LVkWd tek% [kjhn izkjfhkd LVkWd vksj [kjhn dk ;ksx [kir l;= - II l;= - III [kir dk ;ksx vfre LVkWd NOTE 2.18 : COST OF MATERIAL CONSUMED NATURAL GAS Opening stock - - Add: Purchses 6, , Totl of Opening Stock nd Purchse 6, , CONSUMPTION Plnt - II 3, , Plnt - III 3, , Totl of Consumption 6, , Closing Stock - - fvii.kh 2-19 % LVkWd&bu&VªsM dh [kjhn xsgw ds chtks dh [kjhn pkoy ds chtks dh [kjhn lfct;ks ds chtks dh [kjhn,evksih dh [kjhn dhvuk'kdks dh [kjhn,l,lih dh [kjhn vu; enks dh [kjhn ;ksx NOTE 2.19 : PURCHASE OF STOCK - IN - TRADE Purchse of Whet Seeds Purchse of Rice Seeds Purchse of Vegetble Seeds Purchse of MOP 2, Purchse of Presticides Purchse of SSP Purchse of Other items Totl 3, ,

165 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-20 % rs;kj olrqvks] py jgs dk;z vksj O;kikj olrqvks dh eky lwph es ifjorzu o"kz ds vr es eky&lwph d fofufezr olrqvks dk LVkWd ;wfj;k e/;ofrz;k@v)z&rs;kj olrq, tso mozjdks dk LVkWd [k O;kikj] olrqvks dk LVkWd dhvuk'kdks dk LVkWd,l,lih dk LVkWd lcth ds chtks dk LVkWd ;ksx o"kz ds 'kq: es eky lwph% d fofufezr olrqvks dk LVkWd ;wfj;k e/;ofrz;ks@v)z&rs;kj olrq, tso mozjdks dk LVkWd Ñfe [kkn dk LVkWd [k O;kikj olrqvks dk LVkWd dhvuk'kdks dk LVkWd,l,lih dk LVkWd lcth ds chtks dk LVkWd ;ksx LVkWd es fuoy ¼o`f)½@deh NOTE 2.20 : CHANGES IN INVENTORY OF FINISHED GOODS, WORK IN PROGRESS AND TRADING GOODS A B A B Inventories t the end of the yer Stock of Mnufctured goods Ure Intermediries / Semifinished goods Stock of Biofertilizers Stock of Trding goods Stock of Pesticides Stock of SSP Stock of Vegetble Seeds Totl Inventories t the beginning of the yer: Stock of Mnufctured goods Ure Intermedieries / Semifinished goods Stock of Biofertilizers Stock of Vermicompost Stock of Trding goods Stock of Pesticides Stock of SSP Stock of Vegetble Seeds Totl Net (Increse) / Decrese in stock (248.37) fvii.kh 2-21 % dezpkjh ykhk O;; osru vksj etnwjh Hkfo"; vksj vu; fuf/k;ks es v'knku LVkWQ dy;k.k O;; NOTE 2.21 : EMPLOYEES BENEFIT EXPENSES Slries nd wges 3, , Contributions to Provident nd other funds Stff welfre expenses , ,

166 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-22 % forrh; ykxr C;kt O;;% d½ Hkkjr ljdkj ls fy, x, vjf{kr _.k ij C;kt i½ lkeku; C;kt ii½ nm C;kt [k½ ohvkj,l Hkqxrku ds fy, chvksvkbz ls fy, x, jf{kr _.k ij C;kt ;ksx NOTE 2.22 : FINANCE COST Interest expense: ) Interest on Unsecured lon from GOI i) Norml Interest 6, , ii) Penl Interest 1, , b) Interest on Secured lon from BOI for VRS pyment Totl 8, ,

167 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-23 % vu; O;; HkMkjks vksj vfrfjdr iqtksz dh [kir LVkWd ij mrikn 'kqyd isfdx lkefxz;ks dh [kir fo qr vksj bz/ku iv~vk fdjk;k lfgr fdjk;k ejeer vksj vuqj{k.k & Hkou ejeer vksj vuqj{k.k & e'khujh ejjer vksj vuqj{k.k & vu; chek njs vksj dj ¼01 yk[k #i, ds lifrr dj lfgr] finyk o"kz 'kwu;½ lpkj O;; ;k=k vksj okgu eqnz.k vksj ys[ku&lkexzh HkkM+k vksj izs"k.k ¼gSMfyx½ fcøh deh'ku O;olk; lo/kzu nku vksj v'knku fof/k vksj O;kolkf;d 'kqyd ys[kk&ijh{kdks dkss Hkqxrku QSDVjh ds vnj lqkbz dk;z QSDVjh ds fy, fofo/k [kpz lqj{kk O;; ¼lhvkbZ,l,Q½ funs'kd O;; lfnx/k _.k ds fy, izko/kku minku ds fy, izko/kku NqV~Vh udn Hkqxrku ds fy, izko/kku lfnx/k _.k ¼fcØh½ ds fy, izko/kku iqjkuh lkexzh vksj HkMkjks vksj vfrfjdr iqtksz dh deh cv~vs [kkrs es Mkyk x;k vklfkfxr jktlo O;; fofo/k vkdfled etnwjh Vkmuf'ki fofo/k iz'kklu O;; ;ksx NOTE 2.23 : OTHER EXPENSES Consumption of Stores nd Spre Prts Excise Duty on Stock Consumption of Pcking Mterils Power nd Fuel 16, , Rent including Lese Rentls Repirs nd Mintennce - Buildings Repirs nd Mintennce - Mchinery 1, Repirs nd Mintennce - Others Insurnce Rtes nd txes (incl Welth Tx R 01 lcs Previous Yer nil) Communiction Expenses Trvelling nd Conveynce Printing nd Sttionery Freight nd forwrding (Hndling) 2, , Sles Commission Business promotion Dontions nd Contributions Legl nd professionl fee Pyments to uditors Clening work inside Fctory Misc. Expenses for fctory Security expenses (CISF) Director expenses Provision for doubtful debts Provision for Grtuity , Provision for Leve Encshment Provision for doubtful debts (sles) Provision for obsolescence & shortge of stores & spres (0.34) Deferred revenue expenditure written off Misc. Csul lbour township Misc. Administrtion expenses Totl 24, ,

168 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-23 % vu; O;; tkjh--- 1 lcf/kr ikvhz [kqyklk % Hkkjr ds pkvzmz,dkmvsv llfkku }kjk tkjh ^lcf/kr ikvhz [kqykls^ ij ys[kkdu ekud 18 }kjk visf{kr vuqlkj lcfèkr ikvhz [kqyklk uhps fn;k x;k gs% eq[; izc/ku dkfezd% ¼1½ Jh vkj- flg] v/;{k,o izc/k funs'kd ¼2½ Jh,u-ds- lkgk] funs'kd ¼mRiknu½@lh,M,eMh lcf/kr ikfvz;ks ds lkfk ysunsu % eq[; izc/ku dkfezdks dks ikfjjfed eq[; izc/ku dkfezdks dks ns; ikfjjfed dh ns;rk funs'kdks dk ikfjjfed % osru vksj HkRrs Hkfo"; fuf/k v'knku ;ksx % blds vykok] funs'kdks ds ;k=k O;; ij 5-31 yk[k #i, ¼7-23 yk[k #i,½ vksj fpfdrlk O;; ij 0-21 yk[k #i, ¼fiNys o"kz 0-11 yk[k #i,½ dh jkf'k [kpz dh xbz FkhA 2 ys[kk&ijh{kdks dk ikfjjfed % 1- lkfof/kd ys[kk&ijh{kd d½ ys[kk&ijh{kd ds :i es [k½ lykgdkj ds :i es ;k fueufyf[kr ds lc/k es fdlh vu; gsfl;r ls i½ djk/kku ekeys ii½ diuh fof/k ekeys iii½ izc/ku lsok, x½ vu; fdlh <x ls i½ dj ys[kk&ijh{kd ds :i es ii½ ;k=k dh izfriwfrz vksj t:jr ls vf/kd O;; 1 dk ;ksx % 2- vu; ys[kk&ijh{kd i½ dj ys[kk&ijh{kk 'kqyd ii½ ;k=k O;; lfgr vu;ks dks Hkqxrku 2 dk ;ksx % ;ksx ¼1$2½ % NOTE 2.23 : OTHER EXPENSES Contd. 1 Relted Prty Disclosures : Relted prty disclosures s required by Accounting Stndrd 18 on "Relted Prty Disclosures" issued by the Institute of Chrtered Accountnts of Indi, re given herein below : Key Mngement Personnel: (1) Shri R. Singh, Chirmn & Mnging Director (2) Shri N. K Sh, Director (Production) / C&MD Trnsctions with relted Prties : Remunertion to Key Mngement personnel Libility for remunertion pyble to Key Mngement Personnel Directors Remunertion : Slries & Allownces Provident Fund Contribution Totl : In ddition, sum of R 5.31 lcs (Previous yer R 7.23 lcs) ginst trvelling expenses nd R 0.21 lcs (Previous yer R 0.11 lcs) towrds medicl expenses ws incurred for Directors 2 Auditors Remunertion : 1. Sttutory Auditors ) As Auditor b) As dvisor or in ny other cpcity in respect of i) Txtion mtter - - ii) Compny Lw mtters - - iii) Mngement Services - - c) In ny other mnner i) As Tx Auditor ii) Reimbursment of trvelling nd out of pocket expenses Totl of 1 : Other Auditors i) Tx Audit Fee - - ii) Pid to others including trvelling expenses Totl of 2 : Totl (1+2) :

169 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-24 % iwoz vof/k ens o"kz ds nksjku tek jkf'k ¼&½ mihkksx dh xbz lkexzh Mhvkjihih ejeer osru vksj etnwjh Mhvkjihih izkñfrd xsl ewy; gzkl fofo/k O;; Hkkjr ljdkj ds ).k ij C;kt finyh vof/k ds foi.ku ls lcf/kr Mhvkj izfr/kkj.k ewy; jktlgk;rk HkkM+k jktlgk;rk HkkM+k vksj gsmfyx Mhvkjihih HkMkj vksj vfrfjdr iqts± Bsdsnkj dk;zdrkzvks dks Hkqxrku Bsdsnkj dkexkjks dks Mhvkjihih cksul ys[kk&ijh{kk O;;,QchVh finyh vof/k ;ksx o"kz ds nksjku tek jkf'k ¼$½ mihkksx dh xbz lkexzh lhvkjihih ejeer ewy; gzkl izkir chek nkos izfr/kkj.k ewy; vksj HkkM+k jktlgk;rk vu; vk; ds fy, lhvkjihih lhvkjihih fcøh lhvkjihih izkñfrd xsl lhvkjihih dks iqu% fy[kk x;k izkjfhkd O;; uke:i&4 lhvkjihih foi.ku lhvkjihih mrikn 'kqyd ;ksx fuoy ¼$½@¼&½ NOTE 2.24 : PRIOR PERIOD ITEMS DEBIT DURING THE YEAR (-) Mteril consumed DRPP Repirs Slries & Wges DRPP Nturl Gs Deprecition Misc. Expenses Interest on GoI Lon 1, Dr. relting to pst period Mktg Retention price subsidy 1, Freight Subsidy Freight & Hndling DRPP Stores & Spres Pyment to Contrctors Workers DRPP Bonus to Contrctor Workers Audit Expenses FBT pst period TOTAL 4, , CREDIT DURING THE YEAR (+) Mteril consumed CRPP Repirs Deprecition Insurnce Clims received Retention Price & Freight Subsidy CRPP for other income CRPP Sles CRPP Nturl Gs CRPP Written bck Preliminery Expenses Nmrup - IV CRPP Mrketing CRPP Excise Duty TOTAL NET DEBIT/CREDIT / (+)/(-) 4,

170 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fooj.k forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) ¼#- yk[kks es½ (R in Lcs) P A R T I C U L A R S MARCH 31, MARCH 31, fvii.kh 2-25 % vklfkfxr dj ifjlifrr@ ns;rk dh x.kuk diuh ds uksv&a dh ys[kkdu uhfr l-,u rfkk Hkkjrh; pkvzmz,dkmvsv llfkku }kjk tkjh ^vk; ij djks ds fy, ys[kkdu^ lc/kh ys[kkdu ekud 22 ds vuqlkj foosdleer mik; ds :i es o"kz ds vr es ys[kkvks es eq[;r% 'kkfey u fd, x, ewy; gzkl vksj vxzsuhr dj;ksx; gkfu;ks ls mriuu vklfkfxr dj ifjlifrr dks eku;rk ugh nh xbz gsa NOTE 2.25 : CALCULATION OF DEFERRED TAX ASSET/LIABILITY Yer end deferred tx sset minly rising out of unbsorbed tx deprecition nd crried forwrd txble losses hs not been recoginzed in the ccounts s mesure of prudence s per Accounting Policy No. N of note - 1 of the compny nd lso the Accounting Stndrd 22 on "Accounting for Txes on Income" issued by The Institute of Chrtered Accountnts of Indi. fvii.kh 2-26 % izfr 'ks;j vk; d½ o"kz ds 'kq: es bfdovh 'ks;jks dh l[;k o"kz ds vr es bfdovh 'ks;jks dh l[;k o"kz ds nksjku cdk;k bfdovh 'ks;jks dh Hkkfjr vkslr l[;k izr;sd bfdovh 'ks;j dk vfdr ewy; [k½ o"kz ds fy, bfdovh 'ks;j /kkjdks ds fy, fuf'pr dh xbz fuoy gkfu ¼vlk/kkj.k enks ls igys iwoz vof/k lek;kstu½ o"kz ds fy, bfdovh 'ks;j /kkjdks ds fy, fuf'pr dh xbz fuoy gkfu ¼iwoZ vof/k lek;kstu ds ckn vksj vlk/kkj.k enks ds ckn½ ¼#i, yk[k es½ x½ vlk/kkj.k enks ¼#i,@'ks;j½ ls iwoz dj ds ckn ykhk dk vk/kkj vksj U;wuhdj.k?k½ dj vksj vlk/kkj.k enks ¼#i,@'ks;j½ ds ckn ykhk dk vk/kkj vksj U;wuhdj.k NOTE 2.26 : EARNING PER SHARE ) Number of Equity Shres t the beginning of the yer 3,658,324 3,658,324 Number of Equity Shres t the end of the yer 3,658,324 3,658,324 Weighted verge number of Equity Shres outstnding during the yer 3,658,324 3,658,324 Fce Vlue of ech Equity Shre 1,000 1,000 b) Net Loss for the yer ttributble to Equity Shre Holders (fter Prior Period Adjustments but before Exceptionl items) (R in lcs) (12,881.44) (8,509.33) Net Loss for the yer ttributble to Equity Shre Holders (fter Prior Period Adjustments nd Exceptionl items) (R in lcs) (12,881.44) (8,509.33) c) Bsis nd Diluted on profit fter tx before Exceptionl items (R/shre) d) Bsis nd Diluted on profit fter tx nd Exceptionl items (R/shre)

171 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 2-27 % vkdfled nsunkfj;k ¼yk[k #i, es½ forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) NOTE 2.27 : CONTINGENT LIABILITY (R in lcs) d½ diuh ij nkos] ftugs _.k ugh ekuk x;k gs% i½ fy, x, lsok dj ;k ykxr ds vf/kd c<+us vkfn ds fy, iqu#)kj ifj;kstuk ds vrxzr ikfvz;ks }kjk fd, x, fofhkuu nkos ugh fn, x, Fks D;ksfd lcf/kr dk;z vkns'kks es bl lc/k es dksbz fof'k"v fu/kkzj.k ugh fd;k x;k FkkA ii½ esllz izksxfr Jfed ckfguh] uke:i dk lsok dj nkok ugh fn;k x;k gs D;ksfd bldk dk;z vkns'k es dksbz izko/kku fd;k x;k gsa iii½ lhvkbz,llq dks foyc ls fn, x, Hkqxrku dk C;kt iv½ izkñfrd xsl dh vkiwfrz ds fy, esllz vkw;y bfm;k fyfevsm] nqfy;ktku }kjk nkok fd, x, foyfcr Hkqxrku ij C;kt v½ o"kz 2008&09 ds fy, okbz,ethvks ek=k vksj oklrfod mbku ek=k ds vrj ds fy, esllz vkw;y bfm;k fyfevsm] nqfy;ktku }kjk nkok dh xbz jkf'k ;ksx [k½ fueufyf[kr ds i{k es tkjh csd xkjvh i½,u-,q- jsyos] ekfyxko ii½ vle jkt; QfVZykbtlZ,M dsfedyl fyfeiii½,q,,m lh,vks],u,q jsyos] ekfyxko] xqokgkvh ;ksx x½ _.k&i=ks dh mi;ksx u dh xbz jkf'k?k½ iwth [kkrs es fu"ikfnr dh tkus okyh lfonk dh vuqekfur jkf'k ) Clims ginst the Compny not cknowledged s debts: i) Vrious clims by the prties under Revmp Project towrds Service Tx Chrged or Cost Overrun etc. hve not been recognized since no specific stipultion to this effect ws vilble in the relted Work orders. 4, , ii) Service Tx clim of M/s. Progti Shrmik Bhini, Nmrup not cknowledge being not provided in Work Order iii) Interest on delyed pyment climed iv) by CISF Interest on delyed pyment climed by M/s Oil Indi Limited, Dulijn for supply of Nturl gs v) Amount climed by M/s Oil Indi Ltd, Dulijn towrds difference of YMGO quntity nd ctul off tke quntity for the yer , TOTAL 4, , b) Bnk Gurntee issued in fvor of : i) N.F. Rilwy, Mligon ii) Assm Stte Fertilizers & Chemicl Ltd iii) FA & CAO, NF Rilwy, Mligon, Guwhti TOTAL c) Unutilized mount of Letters of Credit , d) Estimted mount of contrct remining to be executed on Cpitl Account 2, , fvii.kh 2-28 % [k.m lwpuk diuh eq[; :i ls ;wfj;k dk mriknu djrh gs vksj mldh fcøh djrh gs vksj blfy, ;g ldy O;kikj [k.m gsa blds vykok] diuh Hkkjr es,dy vkffkzd ifjos'k es vius mrikn miyc/k djk jgh gs vksj csp jgh gs vfkkzr~ ;g,dy HkkSxksfyd [k.m gsa blfy, dksbz izdvhdj.k ugh fd;k x;k gsa NOTE 2.28 : SEGMENT REPORTING The Compny mnufctures nd dels primrily in ure nd s such there is single business segment. Further, the compny is engged in providing nd selling its products in single economic environment in Indi i.e. there is single geogrphicl segment. Hence, no further disclosures re mde. 169

172 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fvii.kh 2-29 % o"kz 2011&12 ds fy, vfrfjdr lwpuk vk;kr ds ewy;] fons'kh eqnzk es O;;] Hk.Mkj vksj vfrfjdr iqtksz dh [kir rfkk vu; lcf/kr fooj.kks ds lc/k es vfrfjdr lwpuk uhps nh xbz gs% ¼yk[k #i, es½ Ø- fooj.k l- ¼1½ lhvkbz,q vk/kkj ij x.kuk fd, x, vk;kr dk ewy;% ¼d½ dpph lkexzh ¼[k½ iwthxr olrq, ¼x½ midj.k vksj vfrfjdr iqts± ¼2½ fons'kh eqnzk es O;;% ¼d½ mriknks dh [kjhn ¼[k½ tkudkjh ¼x½ O;kolkf;d ijke'khz 'kqyd ¼?k½ vu; lkexzh ¼;k=k½ ¼3½ mihkkst; jlk;u vksj mrizsjd lfgr dpph lkefxz;ks] Hk.Mkj.k vksj vfrfjdr iqtksz rfkk?kvdks dk ewy;% ¼yk[k #i, es½ forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) NOTE 2.29 : ADDITIONAL INFORMATION FOR THE YEAR Additionl informtion in regrd to vlue of Imports, Expenditure in Foreign Currency, Stores & Spres consumption, nd other relted detils re furnished s under : (R in lcs) Sl Prticulrs As on As on No (1) Vlue of Imports clculted on CIF bsis : () Rw Mterils - - (b) Cpitl Goods 2, (c) Components & Spre Prts (2) Expenditure in Foreign Currency : () Purchse of Products - - (b) Know-how - - (c) Professionl Consultncy Fees (d) Other Mterils (Trvelling) - - (3) Vlue of Rw Mterils, Stores & Spre Prts nd Components including Chemicls & Ctlysts consumed : (R in lcs) As on % As on % ¼d½ vk;kfrr ¼[k½ Lons'kh () Imported 1, % % (b) Indigenous 11, % 9, % 13, % 9, % ¼4½ fons'kh eqnzk es vk; ¼#i, yk[k es½ ¼5½ vuql/kku vksj fodkl ¼#i, yk[k es½ ¼d½ jktlo O;; ¼[k½ iwth O;; (4) Erning in Foreign Currency - - (R in Lcs) (5) Reserch & Development (R in Lcs) () Revenue Expenditure - - (b) Cpitl Expenditure

173 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fviik.kh 2-30% forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) diuh dh 31 ekpz] 2012 dks lekir o"kz ds rqyu&i=] ykhk vksj gkfu fooj.k rfkk udn izokg fooj.k rfkk fviif.k;ks ¼lkewfgd :i ls ^forrh; fooj.k^½ dks 30 vxlr] 2012 dks diuh ds funs'kd emy dh 63oh csbd es vuqeksfnr fd;k x;k Fkk vksj mls lkfofèkd ys[kk&ijh{kdks dks ml ij viuh fjiksvz nsus ds fy, Hkstk x;k Fkk] ftugksus 30 vxlr] 2012 dks viuh ys[kk&ijh{kd fjiksvz izlrqr dj nh FkhA blds ckn] ;g ik;k x;k fd vuqeksfnr forrh; fooj.kks es es vkdm+ks ds ifjorzu ds dkj.k dqn Vkbi lcèkh v'kqf);k iw.kkzfdr vrj Fkk] ftldk vuqeksfnr ys[kkvks ij dksbz izhkko ugh im+k FkkA blds vykok] iwoz o"kz ds fy, vuqiwjd ys[kk&ijh{kk ds nksjku okf.kft;d ys[kk&ijh{kk ds izèkku funs'kd dks fn, x, opui= ds vuqlkj diuh us HkMkjks vksj vfrfjdr iqtksz ¼vpy½ ds 65% iqjkus izko/kku ds lcèk es egroiw.kz ys[kkdu uhfr vksj iwth [kkrs es fu"ikfnr dh tkus okyh lfonkvks ds lc/k es vkdfled ns;rk dk [kqyklk fd;k x;k gsa diuh us mi;qdr vf/k'ks"k lq/kkj djds mi;qzdr vuqlkj vius forrh; fooj.kks es l'kks/ku fd;k gsa 30 vxlr] 2012 dks vuqeksfnr forrh; fooj.k rfkk ys[kk&ijh{kd dh lel[;d fjiksvz fu;=d,o egkys[kk ijh{kd rfkk vu; ljdkjh fohkkxks dks Hksth xbz FkhA forrh; fooj.kks ds l'kks/ku ds ckn iwoz forrh; fooj.kks ds izkirdrkzvks dks ifjorzuks ds ckjs es lwfpr fd;k tk,xk rfkk l'kksf/kr forrh; fooj.k vksj ml ij ys[kk&ijh{kd dh fjiksvz Hksth tk,xha NOTE 2.30 : The Blnce Sheet, Sttement of Profit & Loss nd Csh Flow Sttements s t nd for the yer ended 31st Mrch, 2012 of the compny long with notes (collectively 'the finncil sttements') were pproved in the 63rd meeting of bord of directors of the compny on 30th August,2012 nd were sent to Sttutory Auditors for their report thereon, who hd submitted their Auditor's Report on the 30th August, Subsequent thereto, it ws observed tht certin typogrphicl errors nd /or rounding off differences due to convergence of rupee figures in Rs./lkh hve crept in the pproved finncil sttements, which hd no impct on the pproved ccounts. Further, in line with the undertking given by the compny to Principl Director of Commercil Audit in course of supplementry udit for the preceding yer, the compny hs mde disclosure in Significnt Accounting Policy relting to provision of 65% obsolescence of stores & spres (non moving) nd disclosure of contingent libility relting to contrcts remining to be executed on cpitl ccount. The compny hs, mended their finncil sttements s bove by mking suitble insertions nd/or rectifictions. The finncil sttements pproved on 30th August, 2012 with uditor's report thereon of even dte hd been sent to C & AG nd other Government Deprtments. Subsequent to revision of finncil sttements, the recipients of erlier finncil sttements would be informed of chnges nd would be sent the revised finncil sttements with uditor's report thereon. 171

174 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm forrh; fooj.kks ds Hkkx ds :i es fviif.k;k ¼tkjh---½ NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTD.) fviik.kh 2-31 % finys o"kz dh rqyuk d½ [k½ x½ vkdm+ks dks fudvre yk[k #i, rd iw.kkzfdr fd;k x;k gs] vu;fkk tgk myys[k fd;k x;k gksa finys o"kz ds vkdm+ks dks dks"bd es n'kkz;k x;k gs] vu;fkk tgk myys[k fd;k x;k gksa finys o"kz ds vkdm+ks dks tgk&dgh vko';d Fkk iqu% O;ofLFkr@ iqulzewg@iqu% myys[k fd;k x;k gs] rkfd mudh orzeku o"kz ds vkdm+ks ls rqyuk dh tk ldsa finys o"kz ds vkdm+ks dks dks"bd es n'kkz;k x;k gs tc rd fd vu;fkk,slk myyks[k u fd;k x;k gksa cksmz ds fy, vksj mudh vksj ls NOTE 2.31 : PREVIOUS YEARS COMPARISON ) Figures hve been rounded off to the nerest lcs of rupees except where otherwise stted. b) Previous yer's figures hve been shown in brckets unless otherwise stted. c) Previous yer's figures hve been regrouped, rerrnged nd reclssified, wherever necessry. Amounts nd other disclosures for the preceding yer re included s n integrl prt of the current yer finncil sttement nd re to be red in reltion to the mounts nd other disclosure relting to the current yer. For nd on behlf of the Bord g0@& g0@& g0@& ¼vkj-ds- xqirk½ ¼lh-oh- Ñ".kk½ ¼,u-ds- lkgk½ diuh lfpo funs'kd funs'kd ¼mRiknu½@ v/;{k vksj izc/k funs'kd Sd/- Sd/- Sd/- (R.K.Gupt) (C.V. Krishn) (N.K. Sh) Compny Secretry Director Director (Production)/ Chirmn & Mnging Director lel[;d rkjh[k dh gekjh fjiksvz ds vuqlkj In terms of our report of even dte Ñrs th- pks/kjh,m,lksfl,v~l lunh ys[kkdkj QeZ ith- l- % bZ For G. Choudhury & Assocites Chrtered Accountnts Firm Regn. No E g0@& ¼xksiky pks/kjh½ ikvzuj lnl;rk l Gopl Choudhury PARTNER Membership No LFkku % ubz fnyyh fnukd % 24 flrcj] 2012 Plce : New Delhi Dte : September 24,

175 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm fu"iknu,d utj es PERFOMANCE AT A GLANCE ¼#- yk[kks es½ (R in Lcs) Ø-l- fooj.k S.No. Prticulr fcøh SALES lcflmh Subsidy ;ksx ¼1$2½ TOTAL (1+2) vu; vk; Other income LVkWd % o`f) ¼$½ deh ¼&½ Stock: ccretion(+)decretion(-) 6 dqy vk; TOTAL INCOME dpph lkexzh ¼QhM LVkWd½ isfdx lkexzh vkfn Rw mterils (Feed Stock) pcking mterils etc. 8 osru vksj HkRrs Slries & Allownces 9 ejeer vksj vuqj{k.k Repirs & Mintennce 10 fo qr vksj b±èku Power & Fuel 11 vu; mriknu O;; Other Mnufcturing Expences 12 ;ksx O;; TOTAL EXPENDITURE ldy ykhk ¼6&12½ Gross Mrgin(6-12) 14 C;kt vksj foùk Interest & Finncil chrges 15 ewy;gzkl Deprecition dj iwoz ykhk Profit before txtion dj ds fy, izkoèkku Provision for txtion 18 vlkèkkj.k vk; Exceptionl items fuoy ykhk@gkfu NET PROFIT/LOSS 20 fuos'k es vrj.k HkRrk vkjf{kr Trnsfer to invesment Allownce Reserve 173

176 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 21 fuos'k ls vrj.k HkRrk vkjf{kr Trnsfer from invesment Allownce Reserve 22 ykhkk'k ds fy, izkoèkku Provision for dividend 23 izlrkfor ykhkk'k ij fuxfer dj Corporte tx on propose dividend 24 fuoy CykWd Net block py jgs iwthxr dk;z Cpitl work in progress 26 orzeku ifjleifrr;k ] _.k vksj vfxze Current ssets, Lon & Advnce 27 orzeku ns;rk, vksj izkoèkku Current Libilities & Provision 28 fuos'k Invesments fofoèk O;; ¼cV~Vs [kkrs ;k lek;ksftr u fd, x, dh lhek rd½ Misc. expenditure (To the extent not written off or djusted) 30 lfpr gkfu Accumulted Losses 31 dqy mi;ksfxrk Totl Utilistion 32 dk;z'khy iw th ¼26&27½ WORKING CAPITAL (26-27) 33 nh?kz vofèk _.k Long Term Borrowings 34 vyi dkfyd _.k Short Term Borrowings 35 'ks;j iw th Shre Cpitl vklfkfxr dj ns;rk Deferred Tx Libility 37 vkjf{kr vksj vfèk'ks"k Reserve & Surplus 38 dqy lzksr Totl Sources fuoy ewy; ¼35$30½ NET WORTH (35+30) 40 fu;ksftr iw th ¼24$32½ Cpitl Employed (24+32) 41 rs;kj eky Finished Goods

177 czãiq= osyh QfVZykbt+j dkwikszjs'ku fyfevsm 42 dk;z izxfr Work Progress O;kikfjd olrq, Trding Goods LVkslZ vksj Lis;lZ Stores & Spres etc. 45 fofoèk ysunkj Sundry Debtors udn vksj csd 'ks"k Csh & Bnk Blnce 47 vu; orzeku ifjleifrr;k Other Current Assets 48 _.k vksj vfxze Lons & Advnces 49 ;ksx ¼41 ls 47½ Totl (41 to 47) 50?kVk, % orzeku ns;rk, Less: Current Libilities 51 izkoèkku Provisions ;ksx ¼50$51½ Totl (50+51) 53 fuoy dk;z'khy iw th ¼48&51½ NET WORKING CAPITA(48-51) 54 ldy vkrfjd lzksr ¼15$19½ Gross Internl Resources (15+19) 55 llfkkfir ldy vkrfjd llkèku Cumltive Gross Internl Resources 56 llfkkfir {kerk ¼,u½ INSTALLED CAPACITY (N) ;wfj;k ¼eh-Vu½ Ure (MT) ;ksx Totl mriknu ¼,u½ PRODUCTION (N) ;wfj;k ¼eh-Vu½ Ure (MT) ;ksx Totl {kerk mi;ksfxrk (%) ;wfj;k Cpcity Utilistion (%) UREA 59 fcøh dh ek=k ¼eh-Vu½ SALES QUANTITY (MT) ;wfj;k Ure ;ksx Totl

178

179 Shri N.K. Sh Director (Production) & CMD Addl. Chrge delivering the Speech on the occsion of Fire Service Dy Jh,u- ds- lkgk] funs'kd ¼mRiknu½,o v/;{k&lg izc/k funs'kd vfrfjdr izhkkj] vfxu lsok fnol ij Hkk"k.k nsrs gq, Mrs. Key Sh, President Ldies Club Distributing Fruits to Ptents of BVFCL Hospitl, Nmrup on the Eve of Republic Dy efgyk Dyc dh v/;{kk Jherh ds;k lkgk] choh,qlh,y vlirky] uke:i ds ejhtks dks x.kr= fnol ds volj ij Qy forj.k djrh gqbz

180 ch oh,iq lh czãiq=k osyh iqfvzykbtk+j dkwikszjs'ku fyfevsm