7. fy 2010-11

Karnataka Power Transmission Corporation Limited

2Karnataka Power Transmission Corporation Limited, Annual Report 2010-11

Table of Contents

1. Director’s Report .............................................. 4

2. Comments of the C & AG of India ................... 36

3. Auditor’s Report and Replies .......................... 37

4. Balance Sheet ................................................... 68

5. Profi t & Loss Account ...................................... 70

6. Schedules ......................................................... 72

3 Karnataka Power Transmission Corporation Limited, Annual Report 2010-11

BOARD OF DIRECTORS

List of Directors (As on the date of AGM)

Sl. No. Name Particulars

1 Kum. Shobha Karandlaje Chairperson, KPTCL

2 Sri P. Ravikumar Managing Director

3 Smt. Shamim Banu M. Director

4 Sri. K. Jothiramalingam Director

5 Sri. Yogendra Tripathi Director

6 Sri. L.V. Nagarajan Director

7 Sri. I.S.N. Prasad Director

8 Sri. N.C. Muniyappa Director

9 Sri. P. Manivannan Director

10 Dr. Aditi Raja Director (Finance)

11 Sri. S. Pratap Kumar Director (Transmission)

12 Sri. Yashavanth V Director (Adm & HR)

13 Sri. S. Shivamallu Director

14 Sri. L. Ravi Director

15 Sri. M. Nagaraju Director

COMPANY SECRETARY

Sri. R. Sridhara

FINANCIAL ADVISER

Sri. K.R. Jayaprakash

STATUTORY AUDITORS

M/s. Rao and Swami

Bangalore

COST AUDITORS

M/s KPR & Associates

Bangalore


DIRECTORS’ REPORT

Dear Members,

The Board of Directors of Karnataka Power Transmission Corporation Limited (KPTCL)

have immense pleasure in presenting the 12th Annual Report for the year 2010-11 and the

Audited Accounts of the Company for the year ended March 31st 2011.

HIGHLIGHTS

• KPTCL is one of the best Transmission utility in Country having least transmission

loss of 3.82 %

• Total Transformation capacity available in the KPTCL network is 44463 MVA

• KPTCL has a robust network with total transmission capacity of 14000 MW

• Total Energy Handled in the Grid during 2010-11 is 46903 MU

• KERC has awarded incentive to KPTCL for having System reliability of 99.70%

• KPTCL is the fi rst utility in the country to have SCADA in all Sub-Stations. First step

towards Smart grid.

• Total number of existing Sub-Stations in the State is 945

• Total length of Transmission Line existing is 29630 Ckms

• During the year 2010-11 State had recorded maximum Peak Demand of 7815

MWs

• In order to strengthen the grid and to evacuate new Generation planned in 12th Plan,

KPTCL has planned to establish 338 New Sub-Stations at total capital investment of

Rs 12,000 Crores.

• Two 765 kV Sub-Stations at Raichur and Tumkur are proposed to be established

during 12th plan period.

• Seven Gas insulated Sub-stations planned for Bangalore city.

• Bangalore is only city in the country to have 400kV, 220kV and 66kV GIS sub-stations

in the Country.


ENERGY & DEMAND FORECAST:

Energy and Demand Forecast as per 17th EPS for the State of Karnataka is as

follows:

Year Energy in MUs Demand in MWs

2011-12 53540 8826

2012-13 58016 9551

2013-14 62866 10335

2014-15 68122 11183

2015-16 73817 12101

2016-17 79988 13095


TRANSMISSION LOSS:

6.89

4.87

4.184.33

4.70

4.37

4.30

4.20

3.82

0

1

2

3

4

5

6

7

8

2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11

(in

%)

FINANCIAL POSITION

The Financial Position of the Company for the three Years ending 31st March 2011 is as

follows: -

(Rs. In Lakhs)

Sl.

No.Particulars 2008-09 2009-10 2010-11

Liabilities

a)Paid Up Capital (Including Share

Deposit)103326.64 117532.25 157532.25

b) Reserves & Surplus 30888.24 34593.18 42213.82

c) Borrowings

Government of Karnataka 831.70 772.29 712.89

Public Bonds 303.00 0.00 0.00

Private Bonds 0.00 0.00 0.00

Financial Institutions 446219.93 519104.01 549953.76

Cash Credit from Banks 0.00 0.00 0.00

Other Funds 31809.41 34122.82 37491.00


d)Current Liabilities & Provisions

(including Interest Accrued & Due)461794.43 421886.09 434130.46

Total 1075173.35 1128010.64 1222034.18

Assets

e) Gross Block 688431.18 780859.28 902550.99

f) Less Depreciation 197715.00 230591.43 269601.34

g) Net Block 490716.18 550267.85 632949.65

h) Capital Work in Progress 159804.26 292222.93 259129.42

I) Current Assets, Loans & Advances 423323.87 283801.41 328225.00

j) Miscellaneous Expenditure 1329.04 1718.45 1730.11

Total 1075173.35 1128010.64 1222034.18

Capital Employed 612049.88 704406.10 786173.61

Net Worth 132885.84 150406.98 198015.96

Note:

1. Capital Employed represents Net Fixed Assets including Capital work in progress

plus working capital

2. Net Worth represents paid up capital plus Reserves & Surplus less Intangible

Assets

Working Results

The working results of the Company for the three years ending 31st March 2011 are as

follows:

Sl.

No.Particulars 2008-09 2009-10 2010-11

I) Profi t (+) / Loss (-) for the year 3543.05 1626.99 1886.51

ii) Prior Period Adjustments -1267.56 -1030.64 -1723.03

iii) Profi t (+) / Loss (-) before Tax 2275.49 596.35 163.48

iv) Tax Provision 874.10 -251.57 76.56

v) Profi t (+) / Loss (-) after Tax 1401.39 847.92 86.92

vi) Percentage of Profi t before tax to:

a) Sales 2.85 0.64 0.13

b) Gross Fixed Assets 0.33 0.08 0.02

c) Capital Employed 0.37 0.08 0.02

Sl.

No.Particulars 2008-09 2009-10 2010-11


vii) Percentage of Profi t after tax to:

a) Net Worth 1.05 0.56 0.04

b) Equity Capital 1.36 0.72 0.06

c) Capital Employed 0.23 0.12 0.01

CAPACITY ADDITION PROGRAMME BY KPTCL:

Voltage Class 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

765 kV - - 1 1 - -

400 kV - - 1 2 - -

220 kV 6 3 10 12 8 1

110 kV 25 15 30 40 24 10

66 kV 20 13 29 45 26 16

Total 51 31 71 100 58 27

Transmission

Capacity in

MWs

15200 16220 16820 18520 20560 21920

Sl.

No.Particulars 2008-09 2009-10 2010-11


DETAILS OF NEW STATIONS AND TRANSMISSION LINES COMMISSIONED AND

AUGMENTATION WORKS CARRIED OUT DURING 2010-11

KPTCL, being the State Transmission Utility has been planning to put in place the best

System. KPTCL has planned construction of several new stations and augmenting the existing

sub-stations during the next couple of years. Year on year, in addition to augmentation, several

new stations and lines are commissioned. Following list gives details for the current year on

this count:

a. Zone-wise Details of New Substations Commissioned during the year under report

are as follows:

Sl.

No.District Station Name

MVA

added

Total

MVA

Voltage

Class in KV

Date of

Commission

Bangalore Transmission Zone

1 B’lore Urban Sir_MV_Layout 2 X 31.5 63.00 66/11 05-05-2010

2 B’lore Urban

Anand Rao_Circle

(One Transformer

commissioned)

2 X 150 150.00 220/66 28-05-2010

3 Ramanagara Chikkagangawadi 1 X 8 8.00 66/11 20-07-2010

4 B’lore Rural

Apparel park KIADB

(One Transformer

commissioned)

2 X 20 20.00 66/11 23-07-2010

5 B’lore Rural Thyamagondlu 2 X 8 16.00 66/11 28-07-2010

6 B’lore Rural

T_Begur (One

Transformer

commissioned)

1 X 12.5

1 X 88.00 66/11 30-07-2010

7 Bangalore Urban Suryanagar_KHB 1 X 20 20.00 66/11 30-09-2010

8 Bangalore UrbanBrigade Gateway_

station (DCW)2X20 40.00 66/11 15-10-2010

9 B’lore Urban REMCO (GIS) 2X31.5 63.00 66/11 03-12-2010

10 B’lore Urban East Division Compound2X150

2X31.5363.00 220/66 20-12-2010

11 Ramanagara Gudemaranahalli 2X8 16.00 66/11 20-01-2011

12 Bangalore Urban Abbigere 2X12.5 25.00 66/11 24-03-2011

Bagalkot Transmission Zone

13 Belgaum Ghataprabha2X100

1X10210.00

220/110

110/1103-12-2010

14 Bijapur Babeleshwar 1X10 10.00 110/11 18-02-2011

15 Bagalokot Kudala sangama 1X10 10.00 110/11 18-03-2011


16 Belgaum MK_Hubli2X100

1X10110.00

220/100

110/1125-11-2010

Gulbarga Transmission Zone

17 Bellary Banavikal 1 X 8 8.00 66/11 19-07-2010

18 Bellary Choranur 2 X 8 16.00 66/11 18-08-2010

19 Koppal Hiregonnagar1X10

1X1020.00

110/11

110/3316-12-2010

20 Raichur Dadesugur 2X10 20.00 110/11 31-03-2011

Hassan Transmission Zone

21 Shimoga Essur_SMG 1X10 10.00 110/11 28-01-2011

22 Shimoga Mallapura 1X8 8.00 66/11 25-03-2011

Mysore Transmission Zone

23 Kodagu Suntikoppa 1 X 12.5 12.50 66/33 11-05-2010

24 Mysore Sindhuvallipura 1 X 8 8.00 66/11 26-05-2010

25 Kodagu Madikeri 1 X 12.5 12.50 66/33 03-06-2010

26 Mandya Mahadeshwarapura 1 X 8 8.00 66/11 23-07-2010

27 Mandya Bannangadi 1 X 8 8.00 66/11 13-08-2010

28 Chamarajanagar Terakanambi 2 X 8 16.00 66/11 23-08-2010

29 Mysore Vajamangala2X75

1X20170.00

220/66

66/1112-11-2010

30 Mandya Adichunchanagiri 1X8 8.00 66/11 25-11-2010

31 Mysore Jyothinagar 2X12.5 25.00 66/11 11-03-2011

32 Kodagu Kushalnagar2X100

1X12.5212.50 220/66 26-03-2011

Tumkur Transmission Zone

33 Tumkur Heggere 1 X 6.3 6.30 66/11 13-05-2010

34 Tumkur Thimmasandra 2X8 16.00 66/11 19-01-2011

35 Davanagere Obajjihalli 1X8 8.00 66/11 09-02-2011

36 Tumkur Baktharahalli 1X8 8.00 66/11 31-03-2011

Sl.

No.District Station Name

MVA

added

Total

MVA

Voltage

Class in KV

Date of

Commission


b. Zone-wise details of Transmission Lines Commissioned during the year under

report are as follows:

Sl.

No. Particulars District

Length

of line in

CKMs.

Date of


1

Construction of 66 KV UG cable from

proposed Kengeri Satellite town S/S at

Sir_MV_Layout S/S

B’lore

Urban66 KV 3.73 05-05-2010

2

220 KV 1000 Sqmm single core UG

cable from Anandrao Circle to R/s NRS

at Anand Rao Circle S/S

B’lore

Urban220 KV 4.116 28-05-2010

366 KV 1000 Sqmm UG Cable line from

Peenya 220 KV Stn. at Peenya S/S

B’lore

Urban66 KV 10.20 01-06-2010

466 KV UG cable from 220 KV A Station to A

station at Ananda Rao Circle_Evacuation S/S

B’lore

Urban66 KV 1.20 09-07-2010

566 KV SC line on DC towers from Jalamangala

with a TB at Chikkagangawadi S/S66 KV 3.92 20-07-2010

6Cnstruction of 66 KV LILO line from D.B.Pura

KIADB SC line to proposed Apparel Park S/S

B’lore

Rural66 KV 0.05 23-07-2010

7

66 KV SC line on DC towers from

Nelamangala- Dobbaspet line at

Thyamagondlu S/S

B’lore

Rural66 KV 5.24 28-07-2010

866 KV tap line from Nelamangala-

Dobbaspet SC line at T-Begur S/S

B’lore

Rural66 KV 1.00 30-07-2010

9

Construction of 66 KV LILO line

from 66 KV Yerandanahalli _Anekal

DC line to 66/11 KV S/S Suryanagar.

B’lore

Urban66 KV 2.10 30-09-2010

10 66 kV LILO UG Cabel from NRS to

Brigade Gateway Station

B’lore

Urban66 KV 3.20 15-10-2010

11

Construction of 220 KV line from Anand

Rao Circle to EDC (4.02kms), EDC to

Nimhans (4.93 kms) and HAL to East Division

Compound 7.90 kms

B’lore

Urban220 KV 11.550 20-12-2010

12

66 KV 1000Sq mm XLPE cable UG cable

(2 Kms) from Vrushabavathi S/S to GIS S/S

(REMCO Line)

B’lore

Urban66 KV 2.00 03-12-2010


13

Running 66 kv, 630 sq mm. UG cable from

cable terminating structure NH7 to proposed

Attibele S/S

B’lore

Urban66 KV 4.70 31-12-2010

14 66 kV tap line from Anchepalya-magadi line Ramanagara 66 KV 12.10 20-01-2011

15

Construction of 66 kv LILO line from one of

the Peenya D>G Plant 66 kv 3&4 DC line for

a distance of 0.025 kms (Abbigere)

B’lore

Urban66 KV 0.03 24-03-2011

Bagalkot Transmission Zone

16

i) Construction of 220 KV MC & DC line

passing through KIADB land in front of

Narendra 220 KV Station

ii) 220 KV DC towers passing through KIADB

land infront of 220 KV Narendra Station

Dharwad 220 KV 2.386 09-06-2010

17110 KV DC towers passing through KIADB

land in front of 220 KV Narendra StationDharwad 110 KV 1.507 09-06-2010

18Construction of 220 kV DC line from

400kV Narendra S/S to MK Hubli StationBelgaum 220 KV 34.334 25-11-2010


400kV Narendra S/S to Ghataprabha S/SBelgaum 220 KV 190.638 03-12-2010

20

110 kV link line from 220 kV S/s Ghataprabha

to Mudalagi S/s Ckt 1 and ckt 2 to Gokak line

3.759 kms, (& 3.68 kms)

Belgaum 110 KV 7.430 20-01-2011

21Construction of 110 KV line with TB

(Bableshwar line)Bijapur 110 KV 13.458 18-02-2011

22Construction of 110 KV DC line to Renebennur

220 KV station to Guttal 110 KV stationHaveri 110 KV 60.058 18-02-2011

23110 KV SC line on DC towers

from 110 KV Mache S/S 6.495 kms Belgaum 110 KV 6.495 21-02-2011

24Running 110 kv UG cable betn Tower no 4&5

of Mache to Udyambag (0.705 km)Belgaum 110 KV 0.705 21-02-2011

25Construction of 110 kv line (4.624 kms)

(Kudala sangamma)Bagalkot 110 KV 4.620 18-03-2011


26 66 KV DC line with TB at Banavikal Bellary 66 KV 17.50 19-07-2010

27 66 KV SC line from Kudligi - Chornur S/S Bellary 66 KV 17.92 18-08-2010


28

110 KV SC line from proposed

Hanumasagar S/s, 13.38 kms with 110 KV

Terminal Bays

Koppal 110 KV 13.390 16-12-2010

29110 kv LILO line from Sindhanur-

Shiraguppa line (Dadesugur)Raichur 110 KV 1.869 31-03-2011


30

Construction of balance stretch of 220 KV DC

line between limits of Hulical ridge and Varahi

switch yard at Varahi S/S

Shimoga 220 KV 8.900 18-05-2010

31110 kV SC tap line on DC towers

tapping from Shiralkoppa-Shikaripura line Shimoga 110 KV 7.600 28-01-2011

3266 kV SC line from Davanagere-Shimoga

line-1 (Mallapura)Shimoga 66 KV 7.68 25-03-2011


3366 KV DC line from Kushalnagar to Madikeri

with a SC LILO at Suntikoppa S/SKodagu 66 KV 18.50 11-05-2010

34

Construction of 66 KV SC tap line on DC

towers from Nanjangur-Begur-Gundlupet line

at Sindhuvallipura S/S

Mysore 66 KV 0.045 26-05-2010

3566 KV DC line from Kushalnagar to Madikeri

with a SC LILO at Suntikoppa in Madikeri S/SKodagu 66 KV 9.00 03-06-2010

36LILO arrangement to proposed Bherya

Station & Construction of TB at Bherya S/SMysore 66 KV 0.042 04-06-2010

37

66 KV DC line from Vajamangala to M-1 line

towards FTS at Vajamangala_Evacuation_

Line1

Mysore 66 KV 0.12 22-07-2010

38


towards SFC at Vajamangala_Evacuation_

Line2

Mysore 66 KV 0.15 22-07-2010

39


towards FTS at Vajamangala_Evacuation_

Line3

Mysore 66 KV 0.14 22-07-2010

40


towards SFC at Vajamangala_Evacuation_

Line4

Mysore 66 KV 0.17 22-07-2010


4166 KV SC line on DC towers from Tubinakere-

Melukote line at Mahadeshwarapura S/SMandya 66 KV 8.47 23-07-2010

4266 KV SC tap line on DC towers from

Pandavapura-KR Pet line at Bannangadi S/SMandya 66 KV 8.40 13-08-2010

43

66 KV SC Tap line on DC towers from

chamarajnagar - Gundlupet line to

Terakanambi 66/11KV S/S.

Chamaraja

nagar66 KV 5.35 23-08-2010

4466 Kv SC tap line on DC tower from

66 kV Anchepalya-BG Nagar Mandya 66 KV 7.90 25-11-2010

45

66 KV LILO line-18.259 kms b)66KV SC

line on DC towers 35.341 Kms with TB at

Santhebachahalli & Jakkanahali

Mandya 66 KV 53.60 26-11-2010

46

Construction of 220 kV LILO line from

Hootagalli-TK Halli SC line to Vajamangala

Station

Mysore 220 KV 1.40 12-11-2010

47Construction 66 kv line from FTS-SFC line

0.2 km (Jyothinagar)Mysore 66 KV 0.20 11-03-2011

48Construction of 220 kv line from

Basthipura to KushalnagarKodagu 220 KV 76.18 26-03-2011

49 Conversion of S/C to D/C line (Begur line)Chamaraja

nagar66 KV 0.49 31-03-2011


5066 KV LILO line from Anchepalya-

Mallasandra SC line at Heggere S/STumkur 66 KV 0.40 13-05-2010


Challakere S/S to Tallak Tap point.Chitradurga 66 KV 14.76 04-11-2010

52

Construction of 66 KV LILO line from

existing 66 KV Hebbur-Melekote SC line to

proposed S/S

Tumkur 66 KV 0.05 19-01-2011

5366 kV SC lin on DC towers from DVG

harapanahalli line Davanagere 66 KV 5.07 09-02-2011

54

110 kV DC line from proposed 220/110 kv

Nittur S/s to link existing KG Temple line for a

distance of 14.846 kms

Tumkur 110 KV 14.85 29-03-2011

5566 kv SC line from existing 66 kv Anchepalya

Hebbur CKT - 12.27 kms (Bhaktarahalli)Tumkur 66 KV 2.27 31-03-2011


c) Zone-wise details of AUGMENTATION OF STATIONS during the year under

report are as follows:

Sl.

No.Name District

Voltage

ClassCapacity

MVA

Added

Date of

Commission


1 Brindavan B’lore Urban 66 KV

Additional 3rd 1 X 20

MVA Transformer,

with TB at SRS Peenya

20.00 01-06-2010

2 YerendanahalliBangalore

Urban66 KV

Replacement of 2x20

MVA by 2x31.5 MVA,

66/11 Kv Transformer

23.00 06-02-2011

3 GokulaBangalore

Urban66 KV

Replacement of

2X12.5 MVA, 66/11

KV Trs. By 2x20 MVA

Transformer

15.00 24-02-2011

4 Nangli Kolar 66 KV

Replacement of

1x12.5 MVA by 1x20

MVA Transformer

7.50 10-03-2011

5 Srinivasapura Kolar 66 KV

Replacement of 12.5

MVA by 20 MVA

Transformer

7.50 25-03-2011

6 Tayalur Kolar 66 KV

Replacement of 6.3

MVA by 12.5 MVA

Transformer

6.20 28-03-2011

7 Sidlagatta C.B.Pura 66 KV

Replacement of 12.5

MVA by 20 MVA

Transformer

7.50 30-03-2011

Baglkot Transmission Zone

8 Gadag Gadag 110 KV

Replacement of 2 X 10

MVA Transformers

by 2 X 20 MVA

Transformers

10.00 22-06-2010

9 PH-Compound Dharwad 110 KVAdditional 1 X 10

MVA Transformer10.00 31-08-2010

10 Ainapur Belgaum 110 KV

Replacement of 1 X

10 MVA Transformer

by 1 X 20 MVA

Transformer

10.00 29-09-2010


11 H Hidkal Belgaum 110 KVAdditional 1X10 MVA

Transformer10.00 28-09-2010

12 HaliyalUttara

Kannada110 KV

Additional 1X10 MVA



13 HB_Halli Bellary 66 KV

Replacement of 1 X

8 MVA Transformer

by 1 X 12.5 MVA

Transformer

4.50 14-06-2010

14 Valkamdinni Raichur 110 KVAdditional 1X10 MVA


15Manna-Ek-

KhelliBidar 110 KV

Providing additional

1x10 MVA Transformer10.00 25-03-2011

16 Gulbarga west Gulbarga 110 KVProviding additional

1x10 MVA Transformer10.00 25-03-2011

17 Shorapur Yadgir 110 KV

Replacement of 1x10

MVA by 1x20 MV

Transformer

10.00 29-03-2011

18Shorapur_

aug_1Yadgir 110 KV

Additional 1X10 MVA



19 Manipal Udupi 110 KV

Replacement of 2 X

10 MVA Transformers

by 2 X 20 MVA

Transformers

20.00 29-04-2010

20 Talaguppa Shimoga 400 KVProviding 3rd 315

MVA transformer315.00 05-05-2010

21 Shivani Chickmagalur 110 KVAdditional 1 X 10


22 Bharangi Shimoga 110 KVAdditional 1 X 10


23 Muthinakoppa Chickmagalur 110 KVAdditional 1 X 10


24 Bhadravathi 2 Shimoga 110 KV

Replacement of 1x10

MVA by 1x20 MV

Transformer

10.00 30-10-2010



25 Halagur Mandya 66 KVAdditional 1 X 8 MVA


26 Chikkamandya Mandya 66 KVAdditional 1 X 8 MVA


27 HanurChamaraja

nagar66 KV

Replacement of 8

MVA by 12.5 MVA

66/11 kv Transformer

4.50 31-03-2011


28 Venkatapura Tumkur 66 KVAdditional 1 X 8 MVA


29 Handanakere Tumkur 110 KVAdditional 1 X 10


ABSTRACT OF MAJOR WORKS PROGRESS UPTO THE END OF

MARCH - 2011 [2010-11]

(a) NEW STATIONS COMMISSIONED :

Sl.

No.Voltage Class

Progress upto the end of

March 2011

Nos. MVA

1 400 KV - -

2 220 KV 6 1215.50

3 110 KV 5 70.00

4 66 KV 25 447.30

TOTAL 36 1732.80

(b) AUGMENTATION OF STATIONS :

Sl.

No.Voltage Class

Progress upto the end of March.2011

Nos. MVA

1 400 KV 1 315.00

2 220 KV - -

3 110 KV 16 170.00

4 66 KV 12 119.70

TOTAL 29 604.70


(c) TRANSMISSION LINES COMMISSIONED:-

Sl.

No.Voltage Class

Progress upto the end of March.2011

Nos. CKMs.

1 400 KV - -

2 220 KV 8 329.50

3 110 KV 11 131.98

4 66 KV 36 227.69

TOTAL 55 689.17

LOAD DISPATCH

The State Load Dispatch Centre is the nerve centre for the planning, operation,

monitoring and control of power system. Essential activities of Load Dispatch are :

(a) Pre-dispatching activities including scheduling of generation and operational

planning.

(b) Real time dispatch.

(c) Continuous monitoring for the healthiness of the system.

(d) Taking appropriate preventive as well as corrective action to deal with the system

emergencies


(e) Post-dispatch activities relating to system performance for effi cient operation of the

power system

The State Load Dispatch centre has to closely monitor the control of the frequency,

voltage, tie line fl ows, economic generation, switching operations etc. to achieve maximum

security and effi ciency.

TENDERING AND PROCUREMENT

During the year 2010-11, KPTCL has procured various equipments like, Power

Transformers, switchgears, Circuit Breakers, Current Transformers, Isolators, Potential

Transformers CVTs, Insulators, Transformer oil required for augmenting the installed capacities

in sub stations, besides other associated equipment like Battery Chargers, Battery Sets for

replacement of deteriorated batteries in stations.

In addition to this, testing and measuring equipments like fl ash point apparatus, on

line DC Earth fault locators, Interface tension meter, transformer winding resistance meter

etc., required for meeting day to day needs of Relay Testing and R&D Wings has also been

procured.

Further, 11 KV Switchgears especially required for implementation of ‘Niranthara Jyothi’

Schemes in ESCOM’s for putting up independent and dedicated 11 KV feeders for catering

the loads of both lighting and motive power installations of the villages on 24 hrs basis, were

also procured.

Further during the year 2010-11 KPTCL has awarded many works related to construction

of new stations and lines of 66 KV, 110KV, 220 KV and 400KV voltage class covering 46 stations

and 769.77 Kms of 66/110/220 KV Over Head including UG cable lines on total turnkey basis

of the order of Rs.69514.45 lakhs.

Amongst the works awarded above, the specialized works included are :

Establishing 220KV GIS Sub-Station at EPIP and 66/11KV GIS Station at kanteerava a)

stadium.

Providing additional 400KV, 500MVA Transformers at 400KV Nelamangala and b)

Hoody Stations.

Providing 400KV 63MVAR Bus reactors at 400KV Guttur, Talaguppa, Nelamangala c)

and Hoody stations.


Laying of 66KV 1000 sqmm UG cable in Bangalore city from d)

Vishwabharathi School to 66KV/11KV Station1)

220KV A Station to 66/11KV Kanteerava Stadium2)

66/11KV BMTC to 66/11KV National College3)

220KV Nimhans Station to 66/11KV Jayanagar Station4)

220KV EPIP GIS station to 66/11KV Kadugodi5)

220KV Vikas Tech Park to 66/11KV Devarabesanahalli and Cessna Park 6)

station.

Following is an abstract of Award of works & Procurment during the fi nancial year 2010-11.

1.WORKS:-

Procurement of works during the year 2010-11

No. of Tenders fl oatedAmount in

Rs. LakhsWorks involving

110KV and below works 54 54434.37

66KV GIS Station – 2 Nos.

66KV Air insulated Stations – 16Nos.

66 O.H. Lines – 95.1 Kms.

66KV UG cable-33.46 kms.

66KV TBs – 3 Nos.

110KV Air insulated Stations-19 Nos.

110KV OH Lines – 311.33Kms.

110KV UG cable -5.75 kms.

110KV TBs – 11 Nos.

220KV & above works 7 33111.36

400KV 500MVA Additional Transformers – 2 Nos.

220KV Air insulated Stations -2Nos.

220KV GIS station – 1 No.

220KV R&M Works – 1 Nos.

220KV O.H Lines –35.17 Kms.

66KV O.H Lines –29.79 Kms.

66KV TBs –1 No.


No. of Tenders awardedAmount in


110KV and below works 57 39560.88

66KV GIS Station – 1 No.

66KV Air Insulated Stations – 20Nos.

66KV O.H. Lines – 323.12 Kms.

110kv Air insulated Stations – 21 Nos.

110KV O.H. Lines – 334.813 Kms.

66KV UG cable 32.45 Kms.

66KV TB -1No

110KV TBs. – 17 Nos.

220KV & above works 10 29953.57

400KV 500MVA Additional Transformers – 2 Nos.

400KV Reactors-4Nos.

220KV Air insulated Stations – 3 Nos.

220KV GIS station- 1 No

220KV O.H. Lines – 49.597 Kms.

66 KV O.H. Lines – 29.79 kms.

220KV R&M Works-1 No.

66 KV TBs. – 1 Nos.

2. GOODS:-

Procurement of Goods during the year 2010-11

DescriptionsAmount in


Power Transformers, Circuit Breakers,

Current Transformers, Battery Sets,

Battery Chargers, Testing Equipments,

11 KV Switchgears, Isolators, PTs,

CVTs Insulators, Transformer oil,

fl ash point apparatus, online DC earth

fault locator, Interface tension meter

Transformer winding resistance meter,

Toshiba E Studio 305 Digit copier

ext.,and Vehicles.

8092.43 Station capacity augmentation,

replacements and testing and

measuring activities etc.,


The total cost towards procurement of works, goods and services during the

year 2010-2011 is Rs.77606.89 lakhs.

FOREST WING

During the year 2010-11, State Government Orders were issued for handing over

the corridor in forest areas for fi ve Transmission lines viz., 1) Basthipur to Kushalanagar

2) Kushalanagar to Periyapatna 3) Puttur to Karaya 4) Kundapura to Navunda 5) Substation

at Magadi. During the year, Ministry of environment and forests of Government of India issued

Stage-II approval to Malur-Somanahalli Transmission line and in principle approval (stage-I)

has also been accorded for three Transmission lines viz., 1) Vajramatti to Manthur, 2) Hassan

to Melagodu and 3) Hassan to Nandikur.

CIVIL

During the year under report a sum of Rs.1663.00 lakhs have been spent as civil works

and Rs. 1802.00 Lakhs have been spent as Revenue Expenditure on civil works. A sum of

Rs. 128.00 lakhs have been spent during the year for construction of KPTCL Training Institute

at Hoody Bangalore.

RELAY AND TESTING:

Total Nos of stations existing under each RT Circle at the end of FY 2010-11 are as

follows:

RT Circle 400kV 220kV 110kV 66kV Total

RT Circle,Bangalore 3 36 22 326 387

RT Circle,Hassan 1 18 58 171 248

RT Circle,Hubli -- 23 151 1 175

RT Circle,Gulbarga -- 13 83 20 116

Total 4 90 314 518 927

Pre-commissioning tests of new stations conducted during the Year 2010-11

RT Cirle Stations commissioned

400kV 220 kV 110kV 66kV

New Bays

commissioned

New IPP

commissioned

RT Circle, Bangalore -- 2 -- 17 28 1

RT Circle,Hassan -- 2 1 9 29 5

RT Circle,Hubli -- 3 3 -- 13 2

RT Circle,Gulbarga -- -- 2 2 2 1

Total -- 7 6 28 72 9


41Ø numbers of new Stations commissioned during the year 2010-11.

Testing and commissioning of Ø 9 new IPP installations were carried out during

the year.

Testing and commissioning works of Ø 72 numbers of new Bays of different voltage

classes were carried out in existing Stations.

Details of Testing and Commissioning works related to enhancement of

station capacity by augmentation works, adding additional transformers in existing

stations, repairs of faulty transformers carried out either through external agency or

departmentally.

Name of the

RT CirleEnhancement

Additional

Transformer

commissioned

Transformers

repaired during

the year

No. of major

Breakdowns

attended

Bangalore 9 -- 7 180

Hassan 5 6 2 279

Hubli 1 4 5 397

Gulbarga 4 3 3 53

Total 19 13 17 909

Details of periodical calibration works carried out by the RT Divisions of various RT

circles for the year 2010-11.

RT Cirle Relays Meters IPP installations EHT consumers

RT Circle, Bangalore 21432 5187 31 47

RT Circle, Hassan 9913 2476 47 32

RT Circle, Hubli 7835 1962 33 12

RT Circle, Gulbarga 4035 583 36 23

Total 43215 10208 147 114

Details of capacitance, Tan test conducted by the RT Divisions of various RT circles for

the year 2010-11

RT Cirle Current Transformer CVT Bushings Transformer Windings

RT Circle, Bangalore 64 8 295 82

RT Circle,Hassan 196 6 608 185

RT Circle,Hubli -- -- 17 4

RT Circle,Gulbarga -- -- 12 8

Total 260 14 932 279


Details of power transformers repaired during the year 2010-11

Sl.

No

Power

Transformer

failed at

Voltage

class in KV

Capacity

in MVAMake

Repaired

byRemarks

I RT Circle, Bangalore

166/11kV Amara

Jyothi66/11 20 BBL

M/s BBL,

Mumbai

Commissioned at

Apparel Park

2220/66kV

Hoody 66/11 31.5

BBL,

4934/7

M/s BBL,

Mubai

Commissioned at

Sarakki MUSS

3 220kV Honnali 220/66 100 CGLM/s KK

Rao

Commissioned at

Anchepalya Station

4220/66/11kV

SRS, Peenya220/66/11 150 CGL CGL

Repaired by fi rm and

the transformer is un

loaded at Peenya

Station

566/11kV Punab

Gatta66/11 12.5 EMCO M/s EMCO

Allotted to Mallasandra

MUSS

6220/66/11kV

SRS, Peenya220/66/11 100 CGL M/s ABB

Commissioned at

220kV Davanagere

Station

7220/66/11kV

Hoody66/11 31.5 Victory

M/s

Victory

Commissioned at

Hoody Station

II RT Circle, Hassan

1 Banavara 110/11 20 Indotech Departmentally

Repaired at station

and diverted to

110/11kV MUSS,

Badhravathi

4 Belagola 66/11 12.5 RIMA M/s RIMA

Repaired and

commissioned at

Belagola

III RT Circle, Hubli

1 110KV Ugar 110/33-11 20MVA NGEF DepartmentallyCommissioned at

110KV S/s Savalgi

2 110KV Ron 110/11 10MVA Voltamp DepartmentallyAllotted to 110KV S/s

Navanagar

3 110KV Kudachi 110/33-11 10MVA NGEF DepartmentallyAllotted to 220KV R/s

Sirsi [Else]


4 110KV H- Hidkal 110/33-11 20MVA NGEF

M/s KK Rao

Engineering

Works,

Hyderabad

Commissioned at

110KV S/s Athani

5 110KV Moratagi 110/33 10MVA GEC Departmentally Allotted to 110KV S/s

Gopanakoppa, Hubli

IV RT Circle,Gulbarga

1 110kV Aland 110/33 10MVA APEX

M/s KK Rao

Engineering

Works,

Hyderabad

Commissioned at

110kV Alanad

2 110kV Yadgir 110/11 10MVA APEX

M/s KK Rao

Engineering

Works,

Hyderabad

Commissioned at

110kv Manna-E-Kheli

3220kV

Humanabad110/11 10MVA APEX

M/s KK Rao

Engineering

Works,

Hyderabad

Commissioned at

110kV Gulbarga West

REGULATORY AFFAIRS

Transmission Tariff1. : KPTCL fi led Transmission Tariff application for the second

MYT period i.e from FY 2010-11 to 2012-13 on 13.08.2010.

Commission issued Transmission Tariff Order on 07.12.2010, approving the 2.

Transmission charges for the Years 2010-11, 2011-12 and 2012-13 as under

Amt in Rs. Crs

Particulars 2010-11 2011-12 2012-13

ARR Filed 1617.39 1956.27 2381.20

ARR Approved 1328.19 1542.14 1769.76

Transmission Tariff Rs/Mw /month 95646 95356 103262

The above transmission tariff for 2010-11 is effective from 01.01.2011

KPTCL furnished views/ comments on the Draft Regulation on Power procurement 3.

from Renewable Energy Sources and Renewable energy Certifi cate frame work.

KERC has issued the fi nal regulation on the subject matter on 16th March 2011.

Based on the above regulation, KERC also notifi ed, SLDC as the State Agency

for Accreditation of Renewable Energy Generators for the purpose of Renewable

Energy Certifi cates.


Petitions:4. 49 petitions and 13 review petitions were fi led before KERC during

FY 2010-11, out of which 45 petitions and 11 review petitions were fi nalised and

orders were passed during 2010-11.

HUMAN RESOURCES AND DEVELOPMENT

In the emerging power sector scenario, it is utmost necessary to equip the human

capital to face the challenges of today & tomorrow. All endeavors have been made for

developing human resources, so as to ensure contribution from one & all for organizational

development through various Training Programmes. Large numbers of need based training

programmes have been arranged successfully. For specialized and focused programmes,

offi cers / employees were deputed for training in various reputed institutions.

Important Administrative orders issued during 2010-11 are as follows:

Appointments in 270 cases under compassionate grounds under Group ‘C’ and ‘D’ 1.

were issued in KPTCL/ ESCOMs during the year 2010-2011.

1392 Probationary Mazdoors working in KPTCL/ESCOMs were converted as 2.

Junior Lineman by creation of Supernumerary posts vide Order No: KPTCL/

B16/ 4313/2005-06 dated: 21.06.2010, 28.06.2010, 09.07.2010, 02.08.2010,

03.08.2010, 21.09.2010 & 02.11.2010.

Order No. KPTCL/B5(c)/721/vol2/2010-11 dated: 06.12.2010 according approval 3.

for sanction of compensation of a lump sum amount of Rs. 5.00 lakh as ex-gratia

as one time fi nancial benefi t to the dependent of Probationary Mazdoor who dies

due to electrical accident while on duty w.e.f. 01.04.2010.


Appointment orders were issued to selected candidates for 532 posts of Assistant 4.

Engineer (Elec.) during June 2010 and for 581 Junior Engineer (El) during

September 2010 & for 17 posts of Assistant Accounts Offi cer during February 2011

& who were recruited against Employment Notifi cation No. KPTCL/B16/3439/08-

09 dated: 26.08.2009.

Order No. KPTCL/B16/B59/9792/09-10 dated: 22.09.2010 where in approval was 5.

accorded for grant of two advance increments to such of those directly recruited

Assistant Executive Engineer/Assistant Engineer who acquires/acquired Post

Graduation/Doctorate degrees in fi eld of Engineering after joining the service and

to those recruited as AAO who acquires/acquired Doctorate degrees in the fi eld of

Finance or Accounts after joining the service in KPTCL/ ESCOMs.

Order No. KPTCL/B16/3593/98-99 dated: 03.02.2011 enhancing the ceiling limit of 6.

Retirement Gratuity/Death Gratuity Payable on retirement/death of an employee

from Rs. 3.50 lakh to Rs. 10.00 lakh to those of the employees who cease to be in

service on account of retirement/death on or after 24.05.2010.

Order No. KPTCL/B16/4682/06-07 dated: 26.02.2011 enhancing the monthly 7.

remuneration payable to physically challenged Revenue Assistants (working

on contract basis) for those with B.A/B.sc/B.com/L.L.B qualifi cation from

Rs. 3500/- p.m to Rs. 4500/- p.m and for those with S.S.L.C qualifi cation from Rs.

2500/- to Rs. 3500/- p.m.

CORPORATE GOVERNANCE

KPTCL believes transparency, responsibility, accountability and fairness in all aspects

of its operations.

Board of KPTCL believes and supports Corporate Governance Practices ensuring

observance of best practices in all its dealings.

As on 31st March 2011, the Board of Directors comprised of 15 members. All the

Directors take active part in the proceedings of Board and Sub- Committee meetings which

add value to the decision making process.

Board Meetings:

The Governance process in the company includes an effective post- meeting follow-

up, review and reporting process for action taken/pending on decisions of the Board, Board

Sub-committees.


The meetings of the Board of Directors are scheduled in advance for which notice is

given to each Director in writing. The Agenda and other relevant notes are circulated to the

Directors well in advance. During 2010-11, a total number of Three Board meetings took

place.

Board Sub-Committees:

The Sub-Committees of the Board were constituted not only to give more focused

attention on important issues but also to expedite decisions on such issues. The Board has

delegated certain specifi c powers to some of the Sub-committees towards speeding up

decisions.

Central Purchases Committee:1.

Central purchases Committee was formed to consider all cases of purchases whether

for Transmission Zone, Projects or award of Station/Line Works or any other works and all

matters relating to purchases which are beyond the powers delegated to the Chief Engineers,

Electricity and within a fi nancial implication of Rs. 20 Crores.

The composition of the Central Purchases Committee is as follows:

Managing Director, KPTCL Chairman of the Sub-Committee

Director (Finance), KPTCL Member

Director(Transmission), KPTCL Member

Company Secretary, KPTCL Convener

The concerned Chief Engineers will be the Coordinating Offi cers.

During the year, CPC meetings were held as follows:

Sl

No.Held on Name of the Meeting

1 Combined Central Purchases

Committee Meeting of KPTCL held

on 2nd, 3rd, 5th and 6th July 2010.

1091. th Tendering & Procurement

912. st Transmission Zone, Bangalore

573. th Transmission Zone, Mysore

524. nd Transmission Zone, Bagalkote

345. th Transmission Zone, Gulbarga

256. th Transmission Zone, Hassan

257. th Transmission Zone, Tumkur


2 Central Purchases Committee 1. 110th Tendering and Procurement

Meeting of 110th T&P KPTCL held

on 9th September 2010


Committee Meeting of KPTCL

held on 12th October 12010 and

adjourned to 27th November 2010,

2nd December 2010, 8th December

2010 and 24th December 2010.


922. nd Transmission Zone, Bangalore


534. rd Transmission Zone, Bagalkote






on Tuesday the 18th January 2011

and Wednesday the 19th January

2011.


932. rd Transmission Zone, Bangalore


544. th Transmission Zone, Bagalkote




5 Central Purchases Committee Meeting of 113th Tendering & Procurement, KPTCL

held on 14th February 2011 and adjourned to 21st February 2011.



on 9th March 2011 and adjourned

to 22nd March 2011.

941. th Transmission Zone, Bangalore


553. th Transmission Zone, Bagalkote






on 28th and 29th March 2011.


952. th Transmission Zone, Bangalore

613. st Transmission Zone, Mysore





Borrowings Sub Committee:2.

The Borrowings Sub-Committee has been delegated powers to borrow Long Term

Loans from Banks/Financial Institutions on behalf of the Board from time to time.

The sub-committee consists of the following members:

Principal Secretary to Govt., Energy Department, GoK1.

Principal Secretary to Govt., Finance Department, GoK2.

Managing Director, KPTCL3.

Director (Finance), KPTCL4.

During the year under report, the Borrowing Sub-Committee held the following meetings:

Sl.

No.For Availing Finance from

Amount

Rs. in CroresHeld on

1 M/s. Bank of India, K.G. Road Branch Rs. 300.00 Crores 08-06-2010

2 M/s. Indian Bank, K.G.Road Branch, Bangalore Rs. 200.00 Crores 03-09-2010

3 M/s. Vijaya Bank, K.G.Road Branch, Bangalore Rs. 564.00 Crores 16.09.2010

4M/s. Corporation Bank, M/s. Panjab & Sind Bank

& M/s. Canara Bank

Rs.200.00 Crores,

Rs. 100.00

Crores & Rs.

500.00 Crores

respectively.

25.10.2010

5 M/s. Vijaya Bank, K.G.Road Branch, Bangalore Rs. 300 Crores 22.02.2011

3. Audit Committee:

In accordance with the new section 292(A) of Companies Act, 1956, KPTCL has

constituted an Audit Committee in the interest of good corporate governance.

The composition of the Audit Committee is as follows:

1 Principal Secretary, GoK, Energy Dept. (By name) Chairman/Chairperson

2 Principal Secretary, GoK, Finance Dept.(By name) Member

3 Sri P. Manivannan, Director, KPTCL Member

4 Director (Transmission), KPTCL. (By name) Member

Company Secretary, KPTCL Convener


During the year under report, the Audit Committee held its meeting on 06.09.2010.

Audit Committee considers and recommends the fi nancial results to the Board.

Statutory Auditors are invited to attend the meeting. The committee also invites the Director

(Finance), Financial Adviser (Accounts & Resources) and Financial Adviser (Internal Audit) to

be present at the meeting.

SPORTS:

KPTCL Sports Organisation has completed Inter Company Sports activities for the

year 2010-11 by conducting all the events at 5 (Five) Centers namely at Bellary, Mysore,

Davangere, Hubli and Shimoga. This year Five disciplines were included such as Billiards,

Hockey, Yoga, Swimming and Throwball in the Inter-Company tournaments.

Our Teams participated in the AIESCB Tournaments in the following events:

Men Section :- Bodybuilding, Powerlifting, Athletics, Volleyball, Hockey

INTERNATIONAL LEVEL PARTICIPATION & ACHIEVEMENTS

BODYBUILDING: ► Sri Roshan Ferrao, Body Builder of MESCOM, Represented India

in the Asia Pecifi c Fitness Championship-2010 held at Roratunga,

Cook Island, New Zealand during Aug.2010 and secured Gold medl

& also got “Mr. Asia Pacifi c-2010” Title.

► Sri G.S. Ananda Krishna, Sports Offi cer represented India as a

Team Manager in the Asia Pecifi c Fitness Championship-2010 held at

Roratunga, Cook Island, New Zealand during Aug.2010.

► Sri Roshan Ferrao, Body Builder of MESCOM, represented India in

the WEBBA Championship-2010 held at Germany during Dec.2010.

NATIONAL LEVEL PARTICIPATION & ACHIEVEMENTS

BODYBUILDING: ► Our Team secured Over-all Championship FIRST place in the

37th AIESCB Tournament held at Jabalpur (M.P.)

► Sri Roshan Ferrao, Body Builder, got “VIDHYUTH SHREE” Title

for the 7TH TIME IN SUCCESSION.

POWERLIFTING: ► Our Team secured for the fi rst time Over-all Championship Second

place in the 37th AIESCB Tournament held at Jabalpur (M.P.)


KABADDI : ► Sri A. Kiran, KPTCL represented Karnataka in the Kabaddi National

Championships held at Chennai (T.N.)

► Sri A. Kiran, KPTCL represented Karnataka in the Kabaddi National

Super Leaque Championships.

CRICKET : ► KPTCL Sports Organisation Cricket Team retained for the year

2010-11 in KSCA League matches in Group-II Division-1.

BILLIARDS : ► Sri D. Rajkumar, KPTCL – Participated in Various National

Championships and State Ranking Tournaments and secured

places.

WOMEN SPORTS

TENNIKOIT : Smt. Nanda, Smt. Poornima and Smt. Gowramma represented

Karnataka State team and participated in the 35th Senior National

Championship-2010 held at Chennai (T.N.).

The Management of KPTCL is encouraging for promotion of Sports in the organisation.

All the Sports persons are taking lot of interest in participation in the International, National

and State level tournaments, through which they brought laurels to our organisation.

The Sports Section is taking keen interest in bringing awareness and importance of

Sports, Cultural activities and health consciousness among the employees and offi cers for

executing their day-to-day work in effective and effi cient manner.

STATUTORY AUDITORS

C & AG of India have appointed M/s. Rao & Swami, Bangalore as Statutory Auditors for

auditing the Accounts of KPTCL for the Financial Year 2010-2011.

COST AUDITORS

Ministry of Corporate Affairs, Govt. of India have approved appointment of M/s KPR &

Associates as Cost Auditors for auditing the cost accounts of KPTCL for the Financial Year

2010-2011.

PARTICULARS OF EMPLOYEES UNDER SECTION 217(2A)

The information under section 217(2A) of Companies Act, 1956 read with Company

(Particulars of Employees) Rules, 1976 may be taken as NIL.


DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 217(2A) of the Companies Act, 1956 with

respect of Directors’ Responsibility Statement, it is hereby confi rmed that:

In the preparation of the annual accounts, the applicable accounting standards 1.

have been followed along with proper explanation relating to material departures;

Accounting policies have been selected and applied consistently and judgments 2.

and estimates are made that are reasonable and prudent so as to give a true and

fair view of the state of affairs of the company at the end of the fi nancial year and

of the profi t or loss of the company for that period;

Proper and suffi cient care has been taken for the maintenance of adequate 3.

accounting records in accordance with the provisions of the Act for safeguarding

the assets of the company and for preventing and detecting frauds and other

irregularities; and

Annual accounts have been prepared on a going concern basis.4.


ACKNOWLEDGEMENTS

The Board of Directors would like to place on record its appreciation for all the support

and guidance extended by the Government of Karnataka, Government of India, Karnataka

Electricity Regulatory Commission, Central Electricity Authority, Central Electricity Regulatory

Commission, Power Finance Corporation Ltd., Rural Electrifi cation Corporation, Karnataka

Renewable Energy Development Ltd., Commercial Banks & other fi nancial institutions, Ministry

of Corporate Affairs, Registrar of Companies and the General Public for their co-operation

and active support to KPTCL.

The Board of Directors would also like to place on record its appreciation for the untiring

efforts and contributions made by the employees at all levels to ensure that the company

continues to grow and excel.

For & on behalf of the Board

Sd/-

CHAIRPERSON


BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE

(Pursuant to part IV of schedule - VI of the Company Act-1956)

Registration details

Registration No. 25521 State Code 8

Balance Sheet date 31.03.2011

Capital Raised during the year (Amount in Rs.thousands)

Public Issue Nil Right Issue Nil

Bonds Issue Nil Private placement Nil

Position of mobilization & deployment of Funds (Amount in Rs.thousands)

Total Liabilities 78790373 Total assets 78790373

Sources of Funds (Amount in Rs.thousands)

Paid up Capital 6903225 Secured Loan 49701610

Share deposit 8850000 UnSecured Loans 5365055

Reserves & Surplus 4221382 Other Funds 3749101

Application of Funds (Amount in Rs.Thousands)

Net Fixed Assets 63294965 Investments Nil

CWIP 25912943 Misc.Exp. 18477

Net current Assets -10436012

Performance of Company (Amount in Rs.thousands)

Turnover 14548415 Total Expenditure 14532067

Profi t before Tax 16348 Profi t after Tax 8693

Earnings per share in Rs. 1.26 Dividend rate % Nil

Name of three principal / services of Company

Item code No. Nil

Product description Transmission of Electricity

For Rao & Swami Sd/-

Chartered Accountants (K.R.JAYAPRAKASH)

Financial Adviser(A&R)

Sd/- Sd/- Sd/- Sd/-

(N.RAMESH) ( R.SRIDHARA) (ADITI RAJA) (P.RAVIKUMAR)

Partner Company Secretary Director (Finance) Managing Director

Membership No.16153

Place: Bangalore

Date: 5th September 2011


COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL

OF INDIA UNDER SECTION 619(4) OF THE COMPANIES ACT, 1956

ON THE ACCOUNTS OF KARNATAKA POWER TRANSMISSION

CORPORATION LIMITED, BANGALORE, FOR THE YEAR ENDED

31st MARCH 2011.

The preparation of fi nancial statement of Karnataka Power Transmission Corporation

Limited, Bangalore, for the year ended 31st March 2011 in accordance with the fi nancial

reporting framework prescribed under Companies Act, 1956 is the responsibility of the

management of the Company. The statutory auditors appointed by the Comptroller and

Auditor General of India under Section 619(2) of the Companies Act, 1956 are responsible

for expressing opinion on these fi nancial statements under section 227 of the Companies Act,

1956 based on independent audit in accordance with the auditing and assurance standards

prescribed by their professional body the Institute of Chartered Accountants of India. This is

stated to have been done by them vide their Audit Report dated 5th September 2011.

I, on behalf of the Comptroller and Auditor General of India, have conducted a supplementary

audit, under section 619(3)(b) of the Companies Act, 1956, of the fi nancial statements of

“Karnataka Power Transmission Corporation Limited, Bangalore” for the year ended

31st March 2011. This supplementary audit has been carried out independently without

access to the working papers of the statutory auditors and is limited primarily to inquiries of

the statutory auditors and company personnel and a selective examination of some of the

accounting records. On the basis of my audit nothing signifi cant has come to my knowledge

which would give rise to any comment upon or supplement to Statutory Auditors’ report under

section 619(4) of the Companies Act, 1956.

For and on behalf of the

Comptroller & Auditor General of India

Sd/-

(D.J. BHADRA)

PR. ACCOUNTANT GENERAL

(CIVIL & COMMERCIAL AUDIT)

KARNATAKA, BANGALORE

BANGALORE

Dated: 24 September 2011


Rao & Swami, No. 2/1, Connaught Road

Chartered Accountants Bangalore - 560 052

Fax : 91(080) - 22260230

AUDITORS’ REPORT

TO THE MEMBERS OF KARNATAKA POWER TRANSMISSION

CORPORATION LIMITED

We have audited the attached Balance Sheet of Karnataka Power Transmission

Corporation Limited (“the Corporation”), as at 31st March 2011, the Profi t and Loss Account

and also the Cash Flow Statement for the year ended on that date, annexed thereto. These

fi nancial statements are the responsibility of the Corporation’s Management. Our responsibility

is to express an opinion on these fi nancial statements based on our audit.

The Corporation is governed by the provisions of The Electricity Act, 2003 read

with the related rules and regulations. The application of the said Act is in consonance with

the provisions of Section 616(c) of The Companies Act, 1956 (“the Act”). Accordingly, the

Corporation has compiled the accounts, adopting the principles and policies as enunciated in

the Electricity Supply Annual Accounts Rules, 1985 (“ESAAR”).

We have conducted our audit in accordance with Auditing Standards generally 1.

accepted in India. Those Standards require that we plan and perform the audit

to obtain reasonable assurance about whether the fi nancial statements are free

of material misstatement. An audit includes examining, on a test basis, evidence

supporting the amounts and disclosures in the fi nancial statements. An audit

also includes assessing the accounting principles used and signifi cant estimates

made by the Management, as well as evaluating the overall fi nancial statements

presentation. We believe that our audit provides a reasonable basis for our

opinion.

Our Notes on Accounts are detailed in Annexure 12.

3. As required by the Companies (Auditor’s Report) Order, 2003 issued by the Central

Government of India in terms of section 227(4A) of the Companies Act, 1956, we


enclose in Annexure II a statement on the matters specifi ed in paragraphs 4 and

5 of the said Order.

4. Further to our comments in Annexure II referred to in paragraph 3 and subject

to our comments in Annexure I referred to in paragraph 2 above, we report that:

We have obtained all the information and explanations, which to the best of (i)

our knowledge and belief were necessary for the purpose of our audit;

In our opinion, proper books of accounts as required by law have been kept (ii)

by the Corporation so far as appears from our examination of those books;

The Balance Sheet, Profi t & Loss Account and the Cash Flow Statement (iii)

dealt with by this report are in agreement with the books of account;

In our opinion, the Balance Sheet, Profi t & Loss Account and the Cash Flow (iv)

Statement dealt with by this report comply with the accounting standards

referred to in sub-section (3C) of section 211 of the Companies Act, 1956,

to the extent they are not inconsistent with the provisions of ESAAR,1985

adopted by the Corporation, except as stated in Note 1 in Annexure I to this

report.

In our opinion and to the best of our information and according to the (v)

explanations given to us, subject to the effect on the fi nancial statements of

the matters referred to in Annexure I to this report, to the extent ascertainable,

as detailed in Note 4 therein (viz disclosed profi t before tax of Rs.163.48

lakh would have resulted in loss of Rs.15,011.79 lakh), the said accounts

read together with accounting policies and notes forming the parts thereof,

give the information required by the Companies Act, 1956, in the manner

so required and give a true and fair view in conformity with the accounting

principles generally accepted in India:

in the case of the Balance Sheet, of the state of affairs of the Corporation (i)

as at March 31st 2011.


in the case of the Profi t and Loss Account, of the profi t for the year (ii)

ended on that date;

in the case of the Cash Flow Statement, of the cash fl ows for the year (iii)

ended on that date;

5. The Corporation being a Government Company, the provision of Section 274(1)

(g) of the Companies Act ,1956 regarding disqualifi cation of Directors do not

apply in terms of Notifi cation No.GSR 829(E) dt.21.10.2003.

For RAO & SWAMI

CHARTERED ACCOUNTANTS

FRN : 003105S

Sd/-

(N.RAMESH)

PARTNER

Membership No: 016153

Place: Bangalore



ANNEXURE I TO THE AUDITORS’ REPORT

Our Notes on Accounts

(Referred to in Paragraph 2 of our report of even date to the members of Karnataka

Power Transmission Corporation Limited. on the fi nancial statements for the year

ended 31st March, 2011)

Non compliance of the Balance Sheet, Profi t & Loss Account and the Cash 1.

Flow Statement dealt with by this report with the provisions of ESAAR, 1985

and/or Accounting Standards referred to in subsection 3C of Section 211 of the

Companies Act, 1956 (to the extent they are not inconsistent with the provisions

of ESAAR 1985), observed by us are listed hereunder

1.1 a) Valuation in respect of certain inventories not held for consumption like scrap

and nonmoving / surplus items, made at standard rate or cost instead of lower

of cost or net realizable value as per Accounting Standard (AS) 2 on “Valuation

of Inventories” (there being no specifi c provision in ESAAR 1985), the effect of

which is not ascertainable in the absence of details.

b) Loss on shortage in material stock has not been provided for in the period in

which the shortage was observed, as required by para 2.20 (12) in Annexure V

to ESAAR 1985, but taken under Stores and Spares (Schedule 10) as ‘Stock

shortage pending investigation’. Hence Stores and Spares and profi t for the year

is over stated by Rs.64.84 lakhs.

1.2 Non inclusion of amount of Rs.10,209.37 lakhs relating to amount stated to

have been claimed from ESCOMs towards differential cost of power purchased

prior to 09.06.2005, relating to the years 2007-08 to 2009-10 (referred to in our

Note 1.4 (ii) hereunder) in Prior period credits / (charges) – Schedule 29 but

including it in Miscellaneous Recoveries ( under Other Income – Schedule 18),

which is not in conformity with Accounting Standard (AS) 5 on “Net profi t for the

period, Prior period items and Changes in Accounting Policies”. Hence profi t for

the period and Prior period charges (net) are overstated by Rs.10,209.37 lakhs,

subject to our Note 1.4 (ii) hereunder.


1.3 a) Non charging of depreciation on assets aggregating to Rs.1,551.74 lakhs

removed for repairs ( included in Advance Suppliers and Contractors under

Loans and Advances - Schedule 12), as stated in Accounting policy 4.8 (schedule

30) and in Note 9 on Accounts (Schedule- 31) which is not in conformity with

Accounting Standard (AS) 6 on “Depreciation Accounting” as also ESAAR 1985.

(In terms of para 2.60 in Annexure III thereto, depreciation charge on assets

shall cease from the year following the year in which the asset permanently

ceases to be used and removal for repairs does not fall within this category.)

b) Charging depreciation on assets constructed on leasehold land at normal rate,

as stated in Accounting Policy 4.7 (Schedule 30), which is also not in conformity

with Accounting Standard (AS) 6 on “Depreciation Accounting” (and there being

no specifi c provisions in ESAAR, 1985)

The effect of (a) and (b) above are not ascertainable in the absence of necessary

details.

1.4 Recognition of following as income despite signifi cant uncertainty in realisation

and hence is not in conformity with Accounting Standard (AS) 9 on “Revenue

Recognition”

Rs.269.25 lakh being delayed payment charges from Hukkeri Electricity i)

Co op. Society, (grouped under Revenue from Transmission Charges –

Schedule 30) not accepted / paid by the said Society.

Rs.10,324.74 lakh being differential cost, in respect of power purchased ii)

prior to 09.06.2005 (accounted as purchases by the Corporation during the

fi nancial years 2008.09 to 2010.11 of which Rs.10,209.37 lakh relates to

2007.08 to 2009.10) stated to have been claimed by way of letter to ESCOMs

based on Tariff Orders. The amount now recognized as income (included

in Other Income- Miscellaneous Recoveries – Schedule 18) though such

claims aggregating Rs.9392.46 lakh relating to 2007-08. and 2008-09 were

earlier made during 2009.10 and Rs.816.91 lakh for 2009-10 made during

2010-11 have not been accepted / paid by ESCOMs. Further such claim for

2010.11 for Rs.115.37 lakh is yet to be made.


Consequently, profi t for the year is overstated by Rs.10,593.99 lakh and Sundry

Debtors and Other Assets overstated by Rs.269.25 lakh and Rs.10,324.74 lakh

respectively.

1.5 Capitalisation of expenditure on replacement of asset or part of assets with

independent existence as stated in Accounting Policy 3.5 (Schedule 30), without

withdrawing cost and depreciation of old replaced asset in terms of para 2.30

of Annexure III to ESAAR, 1985, the effect of which is not ascertainable in the

absence of details.

1.6 a) Provision for long term employee benefi t like pension, gratuity and leave

encashment being made on adhoc basis as stated in Note 16 on Accounts

(Schedule 31), without ascertaining incremental liability based on actuarial

valuation using Projected Unit Credit method, which is not in conformity with

Accounting Standard (AS) 15 on “Employee Benefi ts”, the effect of which could

not be ascertained in the absence of actuarial valuation report as at 31st March

2010 and 31st March 2011.

b) Additional disclosure required to be made in terms of the said Accounting

Standard has also not been made.

1.7 Non ascertainment and non provision for anticipated loss arising from the

obsolescence of capital assets in service and of capital spares as also stores

in stock and assets under construction in terms of para 1.32 in and para 4.5

in Annexure V to ESAAR, 1985 - consequential effect on the accounts not

ascertainable.

1.8 Non disclosure of following matters as required under ESAAR, 1985

Not having obtained insurance of its assets with an outside insurer (para a)

4.6in Annexure V)

Contingent liability on account of claims by Suppliers towards cost b)

escalation (price / quantity / foreign exchange rate fl uctuation) (para 4.12 in

Annexure V)


1.9 Non disclosure of movement of provision in terms of Accounting Standard (AS)

29 on “Provisions, Contingent liabilities and contingent assets” (Para 66).

Attention is drawn to following Notes on Accounts (Schedule 31) consequential 2.

effect of which could not be ascertained

Note 1 regarding Contingent liabilities not provided for: Claims against a)

the Corporation not acknowledged as debt – others Rs.1846 lakh, which

includes

Rs.853 lakh relating to amount awarded by West Bengal Industries i.

Facilitation Council, Kolkata on 31.01.2002, representing Rs.172 lakh

on account of outstanding amount for goods supplied by small scale

industries (through NSIC) and Rs.681 lakh interest on delayed payment

under Small Scale and Auxiliary Industrial Undertaking Act, 1993. The

Corporation’s writ petition has been dismissed by the Honourable High

Court of Karnantaka during the year and we are informed that matter

has since been taken up before the Hon’ble Supreme Court. Pending

decision of Hon’ble Supreme Court and as the relevant records are not

readily available, liabilities if any could not be ascertained.

Rs.121.88 lakh pertaining to award of interest to three suppliers under ii.

the MSME Development Act, 2006 by the Rajasthan Industry Facilitation

Council in respect of which the Corporation has fi led an arbitration suit at

Bangalore and matter is pending.

Note 10 regarding Rs.112.50 lakh demanded by lessor for transfer of title over b)

the assets not provided for in the accounts as negotiation to terminate the

lease agreement and repossession of assets are stated to be in progress.

Note 11 regarding non obtention of confi rmation of balance in respect of c)

balances under Loans and Advances, Other Assets and Current Liabilities.

Note 12 regarding Receivables from and Payable to ESCOMs (aggregating d)

to Rs.14,805 lakh and Rs.11,864 lakh respectively) being subject to

reconciliation and confi rmation.


Note 13 regarding un reconciled net credit balances of Rs.3,018.87 lakh e)

(Debit Rs.28,200.41crore and credit Rs.28,230.60 crore) under Inter Unit

Accounts, which include several old transactions. The net credit balance of

Rs.3,018.87 lakh has been grouped under Other Assets.

Note 14 regarding non provision towards un paid property tax / land cess – f)

amount not ascertained.

Note 21 regarding non disclosure of dues to MSMEs and non provision g)

of interest payable ( amount not ascertained) under MSME Development

Act, 2006 for reasons stated therein. However your attention is drawn to

para (a)(ii) above in respect of interest awarded to three MSMEs by the

Rajasthan Industry Facilitation Council.

Our other observation / comments on the accounts are as under3.

3.1 Equity infusion of Rs. 88500 lakh made during 2008-09 to 2010-11 by Government

of Karnataka (shown as Share Deposit – Schedule 1A) and the utilization thereof

is subject to certain terms viz. the Corporation is required among others to prepare

the design and monitoring framework for each project with investments above

Rs.5 crore (of respective fi nancial years during which funds were released) as

per Government guidelines dated 01.08.2008 and in respect of funds of Rs.200

crores released on 31.03.2011 also to take Cabinet approval for the works to

be taken up by leveraging the equity infusion as per monitoring / measurable

parameters and as per pre determined time schedule. The Corporation is yet to

comply with terms of capital infusion and the funds already utilized (amount not

ascertainable) is subject to ratifi cation by Government of Karnataka.

3.2 a) Capital Work in Progress (Schedule 7), includes capitalization of interest

of about Rs.350 lakh (to the extent ascertainable) in respect of works already

commissioned. Consequently profi t for the year is higher by Rs.350 lakh.

b) Deferred Costs Rs.184.78 lakh (Schedule 7B) includes Rs.86.98 lakh

erroneously written off during previous year and hence reinstated during

the year.


3.3 Unsecured Advance to Suppliers and Contractors, Rs.11,635.69 lakh (grouped

under Loans and Advances- Schedule 13) includes refund of penalty / liquidated

damages recovered from running bills and which is proposed to be recovered out

of retention bills, pending ratifi cation by the Board of Directors. Further, extent of

amount that can be recovered cannot be ascertained at this stage.

3.4 Other Assets- Amount recoverable from employees Es.469.59 lakh (Schedule

14) include Rs.129.66 lakh relating to shortages etc. proposed to be recovered

(including from terminal benefi ts and / or from pension/ family pension). In

the absence of details of eligible terminal benefi t / pension / family pension

amount required to be provided towards irrecoverable balance could not be

ascertained.

3.5 a) The Corporation has been only providing for bonus to eligible employees for

the year to the extent of minimum bonus, without ascertaining allocable surplus

and set on available., as per Payment of Bonus Act. Consequently additional

liability under the said Act could not be ascertained.

b) No provision in the account has been made for Rs.89.44 lakh being

Corporation’s share of additional capital expenditure under United Load Dispatch

and Communication (ULDC) Scheme for the period 01.04.2004 to 31.03.2009,

claimed by PGCIL in terms of CERC order dated 18.03.2011. Consequently,

Current Liabilities is understated and profi t for the year is overstated by Rs.89.44

lakh.

c) Sundry Creditors for purchase of power Rs.1,58,892 lakh (Schedule 15)

represents balance amount payable relating to purchase made up to 09.06.2005

(substantial portion of it outstanding for over three years) together with interest

of Rs.10,821 lakh per annum provided only in respect of principal amount due

to KPCL . In the absence of necessary details and confi rmation of balance, we

are unable to ascertain either the existence of liability or the additional liability

the Corporation may have to bear.

3.6 a) Adjustment pending renotifi cation by GOK Rs.4323.95 lakh (grouped under

Current Liability – Schedule 15-I) represents adjustments made after fi nal


notifi cation dt. 07.10.2004 (of Opening Balance Sheet of the Corporation as at

01.06.2002) pertaining to period prior to 01.06.2002 and having effect on the

networth of the Corporation as at .01.06.2002. The Corporation has on 26.02.2010

sought approval of Energy Department for transfer of Rs.4294.39 lakh as at

31.03.2009 to Share Capital Account, in terms of authorization accorded vide

GO dated 07.10.2004. The Corporation is yet to seek such approval for Rs.29.56

lakh credited to the account during the year

b) During the year, certain difference between general ledger balance and sub

ledger balances and / or balances without details aggregating to Rs.4077 lakh

(to the extent ascertained) has been taken as income for the year included in

Other Income - Other recoveries – Schedule18), though the same has the effect

on the networth as on 01.06.2002. Consequently, profi t for the year is overstated

by Rs.4077 lakh and “Adjustment pending renotifi cation by GOK” understated by

the like amount.

c) Further, the amount now disclosed in the accounts is also subject to the effect

of auditor’s qualifi cation on the accounts for 2009-10 and earlier years.

3.7 Other Income – Other recoveries also include penalty / liquidated damages relating

to Capital Works (amount not readily ascertainable). In light of the Corporation

capitalizing extra cost (including interest) on account of re-tendering, such

penalty/ liquidated damages, in our opinion, are not in the nature of “income”

referred to in ESAAR, 1985 (para2.15 an Annexure III) but are in the nature of

receipts in mitigation of extra cost incurred on account of delay and hence to be

adjusted against cost of corresponding asset, as per the opinion of the Expert

Advisory Committee of ICAI. In the absence of necessary details, consequential

effect on the accounts could not be ascertained.

3.8 Miscellaneous losses and Write off Rs.111.52 lakh (grouped under Other

Expenses – Schedule 23) include loss of Rs.41.32 lakh on account of alleged

theft of lines, written off pending ratifi cation by the Board.

3.9 Contingent Liabilities not provided for (Note 1 on Accounts – Schedule 31) does

not include following claims to the (extent ascertainable) made in terms of CERC


order dated 18.03.2011 and 17.03.2011 and which are required to be collected

from ESCOMs and remitted by the Corporation as per the regulation.

Claim of Rs.502.57 lakh by PGCIL towards additional capital expenditure a)

under ULDC scheme for the period 01.04.2004 to 31.03.2009.

Claim of Rs.126.53 lakh by POSCO towards SLDC fees and charges b)

(including NLDC charges) for the months of October 2010 to February 2011

and for March 2011.

The consequential effect of the above comments to the extent ascertainable is 4.

as under

(Rs. in lakhs)

Profi t before tax for the year overstated by 15,175.27

Capital Work in Progress overstated by 350.00

Stores and Spares overstated by 64.84

Sundry Debtors overstated by 269.25

Other Assets overstated by 10,324.74

Current Liabilities under stated by 4166.44

For RAO & SWAMI


FRN : 003105S

Sd/-

(N.RAMESH)

PARTNER


Place: Bangalore



ANNEXURE II TO THE AUDITORS’ REPORT

(Referred to in Paragraph 3 of our report of even date to the members of Karnataka

Power Transmission Corporation Limited. on the fi nancial statements for the year

ended 31st March, 2011)

1.

(a) The Corporation has been maintaining records showing particulars including

quantitative details of fi xed assets, except for land, assets transferred from

division to division. Details of the situation of Fixed assets has not been

mentioned in all the cases.

(b) According to information and explanation given to us,

(i) the assets/installations put to use in electricity supply and transmission

functions are considered as physically available so long as the functions

are continued to be discharged and are not subject to periodical physical

verifi cation as assets like lines run through forest area and spread over

the State.

the Corporation(ii) has a system of physical verifi cation of tools and

furniture (T&P counting) every year.

However, the procedure of physical verifi cation where conducted and details

of discrepancies found on such verifi cation have not been documented.

Further, in our opinion, the Corporation should evolve suitable system of

periodic physical verifi cation covering all types of fi xed assets, capital work

in progress (including material procured under turn key contracts), assets

not in use and deferred cost.

(c) Company has not disposed off substantial part of fi xed assets during the year

so as to affect its going concern status.

2. (a) According to the information and explanation given to us, the Corporation has

a system of physical verifi cation of inventories every year and at the time of


handing over of charge. Materials in transit have been taken as per records.

In our opinion, the frequency of verifi cation is reasonable considering the

size of the company and nature of its business.

(b) In our opinion, the procedure of physical verifi cation of inventory needs to

be properly documented, in the absence of which we are unable to express

our opinion on its reasonableness and adequacy in relation to the size of the

Corporation and its nature of business.(c) According to the information and

explanations furnished to us, the Corporation has a system of maintaining

proper records of inventory and discrepancies found or noticed on physical

verifi cation have been properly dealt in the accounts except excess of Rs.

8.74 lakh and shortage of Rs.64.87 lakh which are under investigation as

on 31st March 2011. However, in our opinion, discrepancy found on physical

verifi cation and adjustment thereof needs to be properly documented and

also maintenance of stores ledger / records needs to be strengthened.

3. (a) According to the information and explanations given to us, the Corporation has

during the year not granted any loans, secured or unsecured to companies,

fi rms and other parties covered in the register maintained under section 301

of the Companies Act, 1956. Accordingly, the provisions of clause 4 (iii)(a),

(b) (c) and (d) of the Order are not applicable.

(b) According to the information and explanations given to us, the Corporation has

during the year not taken any loans, secured or unsecured from companies,

fi rms and other parties covered in the register maintained under section 301

of the Companies Act, 1956. Accordingly, the provisions of clause 4 (iii)(e),

(f) and (g) of the Order, are not applicable.

4. According to the information and explanations furnished to us, there are

prima facie adequate internal control procedures commensurate with the

size of the Corporation and nature of its business, for purchase of inventory

and fi xed assets and for service / transmission of power except in respect of

‘Accounts Transfer’, asset categorization, accounting for completed works

and review of balances for adjustment / recovery, which in our opinion needs

to be strengthened.


5. According to information and explanation given to us, there are no transactions

made in pursuance of contracts or arrangements that need to be entered in

the register maintained under section 301 of the Companies Act, 1956.

6. The Corporation has not accepted any deposits from the public. Therefore

provisions of clause 4 (vi) of the Order are not applicable.

7. The Corporation has an internal audit division. In our opinion the system

requires to be strengthened with regard to manpower (including professionally

qualifi ed personnel), scope and extent of coverage of transactions (including

compliance of Accounting Standards, categorization of assets, review of old

balances and presence during physical verifi cation) and reporting and follow

up, in order to be commensurate with the size of the Corporation and nature

of its business.

8. The maintenance of cost records in respect of electricity / transmission of

power has been prescribed by the government under clause (d) of subsection

(1) of Section 209 of the Companies Act, 1956. However we are informed that

the Corporation does not keep separate set of registers and books for cost

records and cost statements are prepared based on the fi nancial accounting

books and records.

9. (a) Based on our examination of books of account and according to the information

and explanations given to us, in our opinion, the Corporation is regular in

depositing undisputed statutory dues with the appropriate authorities and

there were no arrears of such dues at the year end which have remained

outstanding for a period of more than six months from the date they became

payable. However as informed to us, property tax is paid and accounted as

and when demand is raised from the Revenue authorities and provisions

of service tax are not applicable to the Corporation. Further applicability

of wealth tax on motor cars and urban land has not been ascertained and

paid.

(b) According to the information and explanations furnished, there are no due of

income tax, sales tax, wealth tax, service tax, customs duty and excise duty

which have not been deposited on account of any dispute.


10. The Corporation has no accumulated losses as at March 31, 2011 and subject

to effect of qualifi cation in the audit reports, has not incurred cash loss in the

fi nancial year ended on that date or in the immediately preceding previous

year.

11. Based on our examination of books of account and according to the information

and explanations given to us, the Corporation has not defaulted in repayment

of dues to a fi nancial institution or Bank or Debenture holders.

12. According to the information and explanation given to us, the Corporation

has not granted any loans & advances on the basis of security by way of

pledge of shares, debentures and other securities. As such, provisions of

clause 4(xii) of the Order are not applicable.

13. The Corporation is not a Chit fund Corporation, Nidhi Corporation or mutual

benefi t Society. Therefore the provisions of paragraph 4(xiii) of the Order are

not applicable to the Corporation.

14. The Corporation is not dealing or trading in shares, securities, debentures and

other investment and as such clause 4(xiv) of the Order is not applicable.

15. According to the information and explanation given to us the Corporation

has not given guarantees for loan taken by others from banks or fi nancial

institutions.

16. According to the information and explanations given to us, though the loan

funds and utilization thereof cannot be matched one to one as the funds

are pooled, on an overall basis, the term loans have been applied or in the

process of being applied for the purposes for which they were obtained.

17. According to the Cash fl ow statement and other records examined by us and

according to the information and explanation given to us, on an overall basis,

funds raised on short term basis have prima facie, not been used during

the year for long term investment other than temporary deployment pending

receipt of long term loans.


18. The Corporation has not made any preferential allotment of shares to parties

and companies covered in the register maintained under section 301 of the

Act.

19. The Corporation has not issued any debentures; accordingly the provisions

of clause 4(xix) of the Order are not applicable.

20. The Corporation has not raised money by public issue, as such provisions of

clause 4(xx) of the Order are not applicable.

21. According to the information and explanation given to us and to the best of

our knowledge and belief, no fraud on or by the Corporation has been noticed

or reported during the year under audit. In respect of departmental enquiry

initiated against a few employees relating to alleged serious irregularities,

we are informed that the same are not in the nature of fraud and / or its

nature can be determined only on completion of enquiry.

For RAO & SWAMI


FRN : 003105S

Sd/-

(N.RAMESH)

PARTNER


Place: Bangalore



ADDENDUM TO DIRECTORS’ REPORT FOR

THE YEAR ENDED 31ST MARCH 2011

FOLLOWING REMARKS ARE OFFERED ON THE OBSERVATION / COMMENTS

OF THE STATUTORY AUDITOR ON THE ACCOUNTS FOR 2010-11

Sl.

No.

Observation of Statutory

AuditorsManagement’s Reply

1 Non compliance of the Balance

Sheet, Profi t & Loss Account and

the Cash Flow Statement dealt with

by this report with the provisions of

ESAAR, 1985 and / or Accounting

Standards referred to in subsection

3 of Section 211 of the Companies

Act, 1956 (to the extent they are

not inconsistent with the provisions

of ESAAR 1985), observed by us

are listed hereunder

1.1 a) Valuation in respect of certain

inventories not held for consumption

like scrap and nonmoving / surplus

items, made at standard rate or

cost instead of lower of cost or net

realizable value as per Accounting

Standard (AS) 2 on “Valuation of

Inventories” (there being no specifi c

provision in ESAAR 1985), the

effect of which is not ascertainable

in the absence of details.

The action taken is as per para 2.20 of Annexure

V of Electricity (Supply) Annual Accounts

Rules, 1985 (ESAAR) issued under Sec. 69(1)

of the Electricity (Supply) Act, 1948. With the

promulgation of Electricity Act, 2003, the Act of

1948 was repealed while the ESAAR has been

saved by virtue of Sec. 185 of the new Act of

2003. As such, the provisions of ESAAR are still

applicable.

b)Loss on shortage in material

stock has not been provided

for in the period in which

the shortage was observed,

as required by para 2.20 (12) in

Annexure V to ESAAR 1985, but

taken under Stores and Spares

(Schedule 10) as ‘Stock shortage

pending investigation’. Hence

Stores and Spares and profi t for

the year is over stated by Rs.64.84

lakhs.

As per the procedure followed by KPTCL and as

per the provisions of Electricity Supply Annual

Accounts Rules, 1985 (ESAAR 1985), the

stock shortages found on physical verifi cation

are initially accounted under “Stock Shortage

Pending Investigation”. On the outcome of the

departmental enquiry, the responsibility is fi xed

on the concerned and action taken to recover

the amount. If the responsibility cannot be fi xed

on any one, the amount will be written off in

the books of accounts. In the instant case, the

Audit has considered the entire amount of stock

shortage pending investigation as loss and

quantifi ed it in the Audit Report. This position is

not in accordance with normal practice followed

hitherto.


1.2 Non inclusion of amount of

Rs.10,209.37 lakhs relating to

amount stated to have been

claimed from ESCOMs towards

differential cost of power purchased

prior to 09.06.2005, relating to

2007-08 to 2009-10 referred

to in our Note 1.4 hereunder in

Prior period credits / (charges)–

Schedule 29 but including it in

Miscellaneous Recoveries ( under

Other Income – Schedule 18), which

is not in conformity with Accounting

Standard (AS) 5 on “Net profi t for

the period, Prior period items and

Changes in Accounting Policies”.

Hence profi t for the period and Prior

period change (net) are overstated

by Rs.10,209.37 lakhs, subject to

our Note 1.4 hereunder.

In the P&L Account of KPTCL, Prior period

credits/charges is shown above the line. As

such, there is no impact on Profi t for the period

& Prior period charges(Net)(Refer reply to 1.4(ii)

also)

1.3 a) Non charging of depreciation on

assets aggregating Rs.1,551.74

lakhs removed for repairs

(included in Advance Suppliers

and Contractors under Loans and

Advances - Schedule 12), as

stated in Accounting policy 4.8 and

in Note 9 on Accounts (Schedule-

31) which is not in conformity with

Accounting Standard (AS) 6 on

“Depreciation Accounting” as also

ESAAR 1985. (In terms of para 2.60

in Annexure III thereto, depreciation

charge on assets shall cease from

the year following the year in which

the asset permanently ceases to be

used and removal for repairs does

not fall within this category.)

Factual- owing to huge number of equipments

given to repairs, it is not practically feasible

to keep track of each equipment for providing

Depreciation.

Sl.

No.




b) Charging depreciation on

assets constructed on leasehold

land at normal rate, as stated in

Accounting Policy 4.7 (Schedule

30), which is also not in conformity

with Accounting Standard (AS) - 6

on “Depreciation Accounting” (and

there being no specifi c provisions

in ESAAR, 1985)

The effect of (a) and (b) above are

not ascertainable in the absence of

necessary details.

Attention is invited to Para 3.3 of AS-6 which

reads as follows “ useful life is either(i) the

period over which a depreciable asset is

expected to be used by the enterprise or (ii) the

number of production or similar Units expected

to be obtained from the use of the asset by the

enterprise

Para 13 reads as follows: - “The statute

governing an enterprise may provide the

basis for computation of the depreciation. For

Example, the Companies Act, 1956 lays down

the rates of depreciation in respect of various

assets. Where the management’s estimate of

the useful life of an asset of the enterprise is

shorter than that envisaged under the provisions

of the relevant statute, the depreciation provision

is appropriately computed by applying the higher

rate. If the management’s estimate of the useful

life of the asset is longer than that envisaged

under the statute, depreciation rate lower than

that envisaged by statute can be applied only in

accordance with requirements of the statute.

From the above, it can be inferred that the

adoption of correct rates of depreciation is left

to the decision of the management. In the

instant case, KPTCL has decided to follow the

depreciation at the regular rates applicable to

the buildings on leasehold land. Further, it may

please be noted that KPTCL is holding Land

under lease (which is subject to renewal ) and

has no other asset under lease.

1.4 Recognition of following as income

despite signifi cant uncertainty in

collectability is not in confi rmity

with Accounting Standard (AS) - 9

on “Revenue Recognition”

Sl.

No.




i) Rs.269.25 lakh being delayed

payment charges from Hukkeri

Electricity Co op. Society, not

accepted / paid by the said

Society.

The billing of Hukkeri Society comprising of

transmission charges and bulk power supply

charges commenced from June-2002. As the

Society was an HT installation at Ghataprabha

Division, HESCOM, where the HT agreement

has been executed with interest clause and

action has been taken by KPTCL accordingly.

ii)Rs.10,324.74 lakh being

differential cost of power purchased

prior to 09.06.2005 accounted

as purchases by the Corporation

during the fi nancial years 2008.09

to 2010.11(including Rs.10,209.37

lakh relating to 2007.08 to 2009.10)

stated to have been claimed by

way of letter to ESCOMs based

on Tariff Orders. The amount now

recognized as income includes such

claims aggregating Rs.9392.46

lakh relating to 2007-08. and

2008-09 made during 2009.10 but

not accepted / paid by ESCOMs.

Further such claim for 2010.11 for

Rs.115.37 lakh is yet to be made.

Consequently, profi t for the year is

overstated by Rs.10,593.99 lakh

and Sundry Debtors and Other

Assets overstated by Rs.269.25

lakh and Rs.10,234.74 lakh

respectively.

ii) The issue pertains to claiming of power

purchase expenditure pertaining to the period

prior to 10-6-2005, the claims of which have been

paid / accounted in 2007-08, 2008-09, 2009-10

and 2010-11. KERC in its Tariff Order 2009 and

2010 has authorized KPTCL to claim the power

purchase expenditure from ESCOMS and this

expenditure has not been reckoned by KERC

for fi xation of Tariff. Relevant extracts of Tariff

Order issued by Hon’ble KERC are enclosed

as Annexure 1. Thus the ESCOMS have to pay

this amount to KPTCL in accordance with the

Tariff Order of Karnataka Electricity Regulatory

Commission. The Karnataka Electricity

Regulatory Commission is a Regulatory body

and the ESCOMs have to follow Directions of

Karnataka Electricity Regulatory Commission.

Further, GOK vide letter dated 23/09/2011

has undertaken to pay the amount in case the

ESCOMs do not pay the same.

1.5 Capitalisation of expenditure on

replacement of asset or part of

assets with independent existence

as stated in Accounting Policy 3.5

(Schedule 30), without withdrawing

cost and depreciation of old

replaced asset in terms of para 2.36

of Annexure III to ESAAR, 1985, the

effect of which is not ascertainable

in the absence of details.

Attention is invited to Para 3.5 of Signifi cant

Accounting Policies wherein it is stated that

Original cost and Accumulated Depreciation on

replaced Assets are removed from Accounts.

The same is followed accordingly.

Sl.

No.




1.6 a) Provision for long term employee

benefi t like pension, gratuity and

leave encashment being made on

adhoc basis as stated in Note 16

on Accounts (Schedule 31), without

ascertaining incremental liability

based on actuarial valuation using

Projected Unit Credit method,

which is not in conformity with

Accounting Standard (AS) -15 on

“Employee Benefi ts”, the effect of

which could not be ascertained in

the absence of actuarial valuation

report as at 31st March 2010 and

31st March 2011.

b) Additional disclosure required

to be made in terms of the said

Accounting Standard has also not

been made.

a) & b)The responsibility of discharging the

terminal benefi ts of the retired employees rests

with the Pension & Gratuity Trust. As such, the

issue will be pursued with P&G Trust during

2011-12.

1.7 Non ascertainment & Non provision

for anticipated loss arising from the

obsolescence of capital assets in

service and of capital spares as

also stores in stock and assets

under construction in terms of para

1.32 and para 4.5 in Annexure V to

ESAAR, 1985 and consequential

effect on the accounts not

ascertainable.

KPTCL is providing for all types losses that can

be expected.

1.8 Non disclosure of following matters

as required under ESSAR, 1985

a)The Corporation has not got its

assets insured with an outside

insurer (para 4.6in Annexure V)

Factual

Contingent liability on account of

claims by Suppliers towards cost

escalation (price / quantity / foreign

exchange rate fl uctuation)

Not quantifi able unless bills are preferred.

Sl.

No.




1.9 Non disclosure of movement of

provision in terms of Accounting

Standard (AS)-29 on “Provisions,

Contingent liabilities and contingent

assets” (Para 66).

No comments

2 Attention is drawn to following

Notes on Accounts (Schedule 31)

consequential effect of which could

not be ascertained except as stated

in our Note 2(a).

a) Note 1 regarding Contingent

liabilities not provided for: Claims

against the Corporation not

acknowledged as debt – others

Rs.1846 lakh, which includes

i) Rs.853 lakh relating to amount

awarded by West Bengal Industries

Facilitation Council, Kolkata on

31.01.2002, representing Rs.172

lakh on account of outstanding

amount for goods supplied by small

scale industries (through NSIC)

and Rs.681 lakh interest on delayed

payment under Small Scale and

Auxiliary Industrial Undertaking

Act, 1993. The Corporation’s writ

petition has been dismissed by

the Honourable High Court of

Karnantaka during the year and we

are informed that matter has since

been taken up before the Hon’ble

Supreme Court. Pending decision

of Hon’ble Supreme Court and as

the relevant records are not readily

available, liabilities if any could not

be ascertained.

i)In the SLP fi led by KPTCL before the Hon’ble

Supreme Court, Principal amount along with

the Interest has been contested. As such,

showing the entire amount of Rs.853 lakh under

contingent liabilities is in order. Further all the

relevant records are available for verifi cation by

Audit.

Sl.

No.




ii) Rs.121.88 lakh pertaining to

award of interest to three suppliers

under the MSME Development Act,

2006 by the Rajasthan Industry

Facilitation Council in respect of

which the Corporation has fi led an

arbitration suit at Bangalore and

matter is pending.

ii)Factual

b) Note 10 regarding Rs.112.50 lakh

demanded by lessor for transfer of

title over the assets not provided

for in the accounts as negotiation to

terminate the lease agreement and

repossession of assets are stated

to be in progress.

b)Factual

c) Note 11 regarding non obtention

of confi rmation of balance in

respect of balances under Loans

and Advances, Other Assets and

Current Liabilities.

c)KPTCL is transacting with large number of

suppliers / contractors through out the state.

Hitherto, suppliers / Contractors have not

raised any objections for the amounts shown in

Accounts

d) Note 12 regarding Receivables

from and Payable to ESCOMs

(aggregating to Rs.14,805 lakh

and Rs.11,864 lakh respectively)

being subject to reconciliation and

confi rmation.

Factual

e) Note 13 regarding un reconciled

net credit balances of Rs.3,018.87

lakh (Debit Rs.28,200.41crore and

credit Rs.28,230.60 crore) under

Inter Unit Accounts, which include

several old transactions. The net

credit balance of Rs.3,018.87 lakh

has been grouped under Other

Assets.

Factual

Sl.

No.




f) Note 14 regarding non provision

towards un paid property tax / land

cess – amount not ascertained.

Property Tax is being paid/necessary provisions

in the Accounts have been made on receipt of

demand Notices or on estimates obtained from

the concerned Authorities.

g) Note 21 regarding non

disclosure of dues to MSMEs and

non provision of interest payable

( amount not ascertained) under

MSME Development Act, 2006 for

reasons stated therein. However

your attention is drawn to para

(a)(ii) above in respect of interest

awarded to three MSMEs by the

Rajasthan Industry Facilitation

Council.

The Company has not received information from

suppliers regarding their status under Micro,

Small & Medium enterprises Development Act,

2006.

3. Our other observation / comments

on the accounts are as under

3.1 Equity infusion of Rs. 88500.00

lakh made during 2008-09 to 2010-

11 by Government of Karnataka

and the utilization thereof is

subject to certain terms viz. the

Corporation is required among

others to prepare the design and

monitoring framework for each

project (of respective fi nancial

years during which funds were

released) with investments above

Rs.5 crore as per Government

guidelines dated 01.08.2008 and in

respect of funds of Rs.200 crores

released on 31.03.2011 also to

take Cabinet approval for the works

to be taken up by leveraging the

equity infusion as per monitoring /

unreasonable parameters and as

per pre determined time schedule.

The Corporation is yet to comply

with terms of capital infusion and

the funds already utilized (amount

not ascertainable is subject to

ratifi cation by GoK)

Factual

Sl.

No.




3.2 a) Capital Work in Progress,

includes capitalization of interest

of about Rs.350 lakh (to the

extent ascertainable) in respect

of works already commissioned.

Consequently profi t for the year is

higher by Rs.350 lakh.

This is due to excess capitalization of Interest

on borrowings in respect of 110KV MC Line

from Jog – Sagar and 110 KV SC Line between

Varahi – Kemar and Kemar – Kavoor .The

interest capitalization has been reworked by

APR Section and actual interest as per working

works out to Rs.212 Lakhs.

b) Deferred Costs Rs.184.78 lakh

(Sch-7B) includes Rs.86.98 lakh

erroneously written off during

previous year and hence reinstated

during the year.

Works for which preliminary expenses towards

survey & investigation was incurred, have been

takenup for execution. As such, the amount has

been reinstated.

3.3 Unsecured Advance to Suppliers

and Contractors, Rs.11,635.69

lakh (grouped under Loans and

Advances- Schedule 13) includes

refund of penalty / liquidated

damages recovered from running

bills and which is proposed to be

recovered out of retention bills,

pending ratifi cation by the Board of

Directors. Further, extent of amount

that can be recovered cannot be

ascertained at this stage.

Amount is recoverable out of the retention

money

3.4 Other Assets- Amount recoverable

from employees Es.469.59 lakh

(Schedule 14) include Rs.129.66

lakh relating to shortages etc.

proposed to be recovered (including

from terminal benefi ts and / or

from pension/ family pension). In

the absence of details of eligible

terminal benefi t / pension / family

pension amount required to be

provided towards irrecoverable

balance could not be ascertained.

The amount is recoverable out of the Terminal

benefi ts of the retired employees.

Sl.

No.




3.5 a)The Corporation has been only

providing for bonus to eligible

employees for the year to the

extent of minimum bonus, without

ascertaining allocable surplus and

set on available., as per Payment of

Bonus Act. Consequently additional

liability under the said Act could not

be ascertained.

As the minimum Bonus is being paid there is

no additional liability in this regard

b) No provision in the account has

been made for Rs.89.44 lakh being

Corporation’s share of additional

capital expenditure under United

Load Dispatch and Communication

(ULDC) Scheme for the period

01.04.2004 to 31.03.2009, claimed

by PGCIL in terms of CERC order

dated 18.03.2011. Consequently,

Current Liabilities is understated

and profi t for the year is overstated

by Rs.89.44 lakh.

Claims in respect of PGCIL is to be met by

ESCOMS only and not by KPTCL.

c) Sundry Creditors for purchase of

power Rs.1,58,892 lakh (Schedule

15) represents balance amount

payable relating to purchase made

up to 09.06.2005 (substantial

portion of it outstanding for over

three years) together with interest of

Rs.10,821 lakh per annum provided

only in respect of principal amount

due to KPCL . In the absence of

necessary details and confi rmation

of balance, we are unable to

ascertain either the existence of

liability or the additional liability the

Corporation may have to bear.

Facual.

Sl.

No.




3.6 a) Adjustment pending renotifi cation

by GOK Rs.4323.95 lakh (grouped

under Current Liability – Schedule

15-I) represents adjustments made

after fi nal notifi cation dt. 07.10.2004

(of Opening Balance Sheet of the

Corporation as at 01.06.2002)

pertaining to period prior to

01.06.2002 and having effect on

the networth of the Corporation as

at 01.06.2002. The Corporation has

on 26.02.2010 sought approval of

Energy Department for transfer of

Rs.4294.39 lakh as at 31.03.2009

to Share Capital Account, in terms

of authorization accorded vide GO

dated 07.10.2004. The Corporation

is yet to seek such approval for

Rs.29.56 lakh credited to the

account during the year

Facual

b) During the year, certain

difference between general ledger

balance and sub ledger balances

and / or balances without details

aggregating to Rs.4077 lakh (to the

extent ascertained) has been taken

as income for the year included in

Other Income - Other recoveries

– Schedule18), though the same

has the effect on the networth as

on 01.06.2002. Consequently,

profi t for the year is overstated

by Rs.4077 lakh and “Adjustment

pending renotifi cation by GOK”

understated by the like amount.

The undischarged liabilities of very old period for

which details are not available are continued in

the books of accounts of KPTCL. Such liabilities

existed in MWD, South Division, MWD, Kolar

and APR Section have been written back during

the year amounting to Rs.4166.44 Lakhs as was

done in earlier years. Hence, Audit is requested

to accept this accounting treatment.

Sl.

No.




c) Further, the amount now

disclosed in the accounts is also

subject to the effect of auditor’s

qualifi cation on the accounts for

2009-10 and earlier years.

3.7 Other Income – Other recoveries

also include penalty / liquidated

damages relating to Capital Works

(amount not readily ascertainable).

In light of the Corporation

capitalizing extra cost (including

interest) on account of re-tendering

, such penalty/ liquidated damages,

in our opinion, are not in the nature

of “income” referred to in ESAAR,

1985 (para2.15 an Annexure III)

but are in the nature of receipts

in mitigation of extra cost incurred

on account of delay and hence

to be adjusted against cost of

corresponding asset, as per the

opinion of the Expert Advisory

Committee of ICAI. In the absence

of necessary details, consequential

effect on the accounts could not be

ascertained.

Action taken is as per the Electricity Act 1985

3.8 Miscellaneous losses and Write

off Rs.111.52 lakh (grouped under

Other Expenses – Schedule 23)

include loss of Rs.41.32 lakh on

account of alleged theft of lines,

written off pending ratifi cation by

the Board.

Factual

Sl.

No.




3.9 Contingent Liabilities not provided

for (Note 1 on Accounts – Schedule

31) does not include following

claims to the (extent ascertainable)

made in terms of CERC order dated

18.03.2011 and 17.03.2011 and

which are required to be collected

from ESCOMs and remitted by the

Corporation as per the regulation.

a) Claim of Rs.502.57 lakh by

PGCIL towards additional capital

expenditure under ULDC scheme

for the period 01.04.2004 to

31.03.2009.

KPTCL is not a party to the transaction

b) Claim of Rs.126.53 lakh by

POSCO towards SLDC fees

and charges (including NLDC

charges) for the months of October

2010 to February 2011 and for

March 2011.

KPTCL is not a party to the transaction

4 The consequential effect of the

above comments to the extent

ascertainable is as under

(Rs. in lakhs)

Profi t before tax for the

year overstated by 15,175.27

Capital Work in Progress

overstated by 350.00

Stores and Spares

overstated by 64.84

Sundry Debtors

overstated by 269.25

Other Assets

overstated by 10,324.74

Current Liabilities

under stated by 4166.44

Item 1: Capital works in progress overstated by

– Rs.350 Lakhs

This is due to excess capitalization of Interest

on borrowings in respect of 110KV MC Line from

Jog – Sagar and 110 KV SC Line between Varahi

– Kemar and Kemar – Kavoor. It was replied

during Audit that the details will be verifi ed and

necessary action taken during 2011-12. The

interest capitalization has been reworked by

APR Section and actual interest as per working

works out to Rs.212 Lakhs.

Sl.

No.




Item 2: Stores & Spares overstated by –

Rs.64.84 Lakhs

As per the procedure followed by KPTCL and as

per the provisions of Electricity Supply Annual

Accounts Rules, 1985 (ESAAR 1985), the

stock shortages found on physical verifi cation

are initially accounted under “Stock Shortage

Pending Investigation”. On the outcome of the

departmental enquiry, the responsibility is fi xed

on the concerned and action taken to recover

the amount. If the responsibility cannot be fi xed

on any one, lateron the amount will be written

off in the books of accounts. In the instant case,

the Audit has considered the entire amount of

stock shortage pending investigation as loss and

quantifi ed it in the Audit Report. This position is

not in accordance with normal practice followed

hitherto.

Item 3: Sundry Debtors Overstated by -

Rs.269.25 Lakhs The issue pertains to claiming

of interest on belated payment of dues by

Hukkeri Co-operative Society. The correct

amount is Rs.262.95 lakhs as against Rs.269.25

Lakhs quanitifed by the Audit. Recovery is being

persued by Transmission Billing Centre of

KPTCL, Bangalore.

Item 4: Other Assets Overstated by –

Rs.10334.74 Lakhs

The issue pertains to claiming of power purchase

expenditure pertaing to the period prior to 10-

6-2005, the claims of which have been paid /

accounted in 2007-08, 2008-09, 2009-10 and

2010-11. KERC in its Tariff Order 2009 and

2010 has authorized KPTCL to claim the power

purchase expenditure from ESCOMS and this

expenditure has not been reckoned by KERC

Sl.

No.




for fi xation of Tariff. Relevant extracts of Tariff

Order issued by Hon’ble KERC are enclosed

as Annexure 1. Thus the ESCOMS have to pay

this amount to KPTCL in accordance with the

Tariff Order of Karnataka Electricity Regulatory

Commission. The Karnataka Electricity

Regulatory Commission is a Regulatory body

and the ESCOMs have to follow Directions of

Karnataka Electricity Regulatory Commission.

Item 5: Current Liabilities Understated by –

Rs.4166.44 Lakhs The undischarged liabilities

of very old period for which details are not

available are continued in the books of accounts

of KPTCL. Such liabilities existed in MWD, South

Division, MWD, Kolar and APR Section have

been written back during the year amounting to

Rs.4166.44 Lakhs as was done in earlier years.

Sl.

No.




BALANCE SHEET AS AT MARCH 31ST 2011

(Amount in Rs.)

Sl.

No.Particulars

SCH

NO

A/c

CodeAs at 31-03-2011 As at 31-03-2010

I SOURCES OF FUNDS :-

1

2

3

4

Share holders Funds

Share Capital

Share Deposit

Reserves and

Surplus

Loans Funds

Secured Loans

Unsecured Loans

Other Funds

Service Line and

Security Deposits

Deferred Tax Liability

1

1A

2

3

4

5

5A

52.301

52.302

55 to 58

51 to 54

52 & 54

47 & 48

46.802

690 32 25 000

885 00 00 000

422 13 82 406

4970 16 09 619

536 50 55 525

100 62 02 258

274 28 98 876

1997 46 07 406

5506 66 65 144

100 62 02 258

274 28 98 876

690 32 25 000

485 00 00 000

345 93 18 405

5182 05 99 068

16 70 31 628

66 93 82 580

274 28 98 876

1521 25 43 405

5198 76 30 696

66 93 82 580

274 28 98 876

TOTAL 7879 03 73 684 7061 24 55 557

II APPLICATION OF

FUNDS :-

1

2

3

Fixed Assets

(a) Gross Block

(b) Less: Depreciation

(c) Net Block

(d) Capital Work in

Progress

(e) Asset not in use

(f) Deferred Costs

Investments

Current Assets,

Loans and

Advances

(a) Interest accrued

on Inv. & Deposits

(b) Stores & Spares

(c) Sundry Debtors

(d) Cash and Bank

balances

6

7

7A

7B

8

9

10

11

12

10 & 12

14 & 15

16

17

22

23&28.1

20 & 24

9025 50 99 487

-2696 01 34 331

6329 49 65 156

2591 29 42 769

15 45 34 216

1 84 77 566

2608 59 54 551

NIL

Nil

106 08 75 689

244 97 75 788

393 04 24 985

8938 09 19 707

7808 59 28 283

-2305 91 43 330

5502 67 84 953

2922 22 92 884

17 18 45 508

0

2939 41 38 392

Nil

Nil

101 14 03 999

264 08 63 520

163 77 23 372

8442 09 23 345


(e) Loans and

Advances

(f) Other Assets

Less:

Current Liabilities &

Provisions

Net Current Assets

13

14

15

25 to 27

& 28

28.4 to

28.9 & 31

to 37

40 to 55

161 47 72 223

2376 66 51 443

3282 25 00 128

4341 30 46 151

-1059 05 46 023

59 08 57 438

2249 92 93 138

2838 01 41 467

4218 86 09 255

-1380 84 67 788

TOTAL 7879 03 73 684 7061 24 55 557

Signifi cant Accounting 30

Polices

Notes to Accounts form 31

part of the Balance sheet

Sd/-

(K.R.JAYAPRAKASH)


Sd/- Sd/- Sd/-

(R.SRIDHARA) (ADITI RAJA) (P.RAVIKUMAR )

Company Secretary Director (Finance) Managing Director

As per our report of even date

For Rao & Swami

Chartered Accountants

Sd/-

(N.Ramesh)

Partner

Place: Bangalore Membership No.16153

Date : 5-9-2011

Sl.

No.Particulars

SCH

NO

A/c

CodeAs at 31-03-2011 As at 31-03-2010

BALANCE SHEET AS AT MARCH 31ST 2011

(Amount in Rs.)


PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2011

(Amount in Rs.)

Sl.

No.Particulars

SCH

NO

A/c

Code

Current Year

2010-11

Previous Year

2009-10

I INCOME

1Revenue from Transmission

of Power16 61 1215 22 21 607 925 55 25 907

2 Revenue Subsidies & Grants 17 63

3 Other Income 18 62 239 61 93 405 306 33 37 362

TOTAL 1454 84 15 012 1231 88 63 269

II EXPENDITURE

1Purchase of Power (Prior to

10-06-2005)19 70 1 15 36 701 8 16 90 987

2 Repairs and Maintenance 20 74 71 01 97 015 66 66 57 274

3 Employee Costs 21 75 410 56 80 079 246 72 12 128

4Administrative and Other

Expenses22 76 34 76 15 235 40 34 52 788

5 Other Expenses 23 77 & 79 1 72 80 340 36 64 33 499

SUB-TOTAL 519 23 09 370 398 54 46 676

6 Less: Expenses Capitalised 2474.9,75.9

& 76.927 57 32 288 25 20 21 512

TOTAL 491 65 77 082 373 34 25 164

IIIPROFIT BEFORE

DEPRECIATION AND INTEREST 963 18 37 930 858 54 38 105

1 Less:Depreciation (Net) 25 77 406 98 89 291 358 57 07 381

IVPROFIT BEFORE INTEREST

AND TAXES 556 19 48 639 499 97 30 724

1 Less : Interest and other Bank

Charges (Net)

26 78 & 80 537 32 96 889 483 70 31 089

2 Add / Less: Net amount of Extra

ordinary items

28

3 Add/(Less) : Prior period credits/

(charges)

29 65 & 83 -17 23 03 260 -10 30 63 697

V PROFIT BEFORE TAX 1 63 48 490 5 96 35 938

1 Provision for Taxation - Current

Tax

27 81.1 31 79 781 1 10 00 000

2 Fringe Benefi t Tax 81.101


Sl.

No.Particulars

SCH

NO

A/c

Code

Current Year

2010-11

Previous Year

2009-10

3 Deferred Tax 81.201

4 Excess Provision for Income

Tax- Previous years

65.500 44 76 140 -3 61 56 959

VI NET PROFIT AFTER TAXATION 86 92 569 8 47 92 897

Balance of profi t brought over

from Previous years 178 67 97 734 170 20 04 837

VII APPROPRIATIONS

Balance Carried to Balance Sheet 179 54 90 303 178 67 97 734

Signifi cant Accounting Polices

Notes to Accounts form part of the

Profi t and Loss Account

30

31

Sd/-

(K.R.JAYAPRAKASH)


Sd/- Sd/- Sd/-




For Rao & Swami


Sd/-

(N.Ramesh)

Partner

Place: Bangalore Membership No.16153

Date : 5-9-2011

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2011

(Amount in Rs.)


SCHEDULE: 01 SHARE CAPITAL

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

1 Authorised Capital

1,00,00,000 Equity shares

of Rs. 1000/- each 1000 00 00 000 1000 00 00 000

2Issued, Subscribed and

Paid up

(6903225 Shares of

Rs1000/- each. Of the

above shares, 6903218

shares are alloted as fully

paid-up pursuant to a

contract without payaments

being received in cash) 52.301 690 32 25 000 690 32 25 000

690 32 25 000 690 32 25 000

TOTAL 690 32 25 000 690 32 25 000

SCHEDULE: 1A SHARE DEPOSIT

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Share Deposit

(Received from

GOK Pending

Allotment)

52.302 &

52.303885 00 00 000 485 00 00 000

TOTAL 885 00 00 000 485 00 00 000


SCHEDULE: 02 RESERVES AND SURPLUS

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Capital Reserve 56.2 2 39 23 665 2 39 23 665

Other Reserve

Reserve for

Materials Cost

Variance

56.610 6 74 593

Surplus in Profi t and

Loss Account58 179 54 90 303 178 67 97 734

Contributions,

grants and

subsidies towards

cost of Capital

assets :-

Contribution towards

cost of capital assets55.1 219 06 18 846 143 79 22 007

Special Grant

received from GOK

towards Floods relief

works

55.309 10 00 00 000 10 00 00 000

Special Grant

towards Capital

Works

55.500 11 06 74 999 11 06 74 999

TOTAL 422 13 82 406 345 93 18 405


SCHEDULE: 03 SECURED LOANS

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 AS at 31-03-2010

Loans From Financial

Institutions

Loans from REC

(Guaranteed by State

Govt. and Escrow)

53.300 16 63 44 547 30 22 27 170

Short term Loans

obtained from

Commercial Banks /

Financial Institutions

53.324 1100 00 00 000

Loans obtained

from UCO Bank

(Hypothication of Plant

and machinery)

53.325 503 00 00 000 503 00 00 000

Loans obtained

from Vijaya Bank

(Hypothication of assets)

53.330 1025 41 73 003 354 39 03 694

Loans obtained from

South Indian Bank


53.345 87 50 00 000

Loan drawn from

Punjab National

Bank (Guaranteed by

default Escrow and

Hypothication of Assets)

53.346 224 25 00 000 258 75 00 000

Loan drawn from Oriental

Bank of Commerce


53.347 67 50 00 000 77 50 00 000

Loan drawn from

Corporation Bank


53.353 222 50 00 000 132 50 00 000

Loan drawn from

Bank of Maharastra


53.354 145 00 00 000 165 00 00 000

Loan from Bank Of India

(Hypothication of assets)53.355 411 04 00 000 155 52 00 000


SCHEDULE: 03 SECURED LOANS (Continued…)

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Loans drawn from

Bank of Baroda

(Hypothecation of

Assets)

53.356 150 00 00 002 183 33 33 334

Loan drawn from Indian

Bank (Hypothication of

assets)

53.357 300 00 00 000 100 00 00 000

Loan drawn from Bank of

Rajasthan (Hypothication

of assets)

53.358 100 00 00 000 100 00 00 000

Loan drawn from

Punjab & Sindh Bank


53.359 35 00 00 000

Loan drawn from Canara

Bank (Hypothication of

assets)

53.360 500 00 00 000

Loans drawn from HDFC

(Title deed)53.900 21 63 941 51 05 850

Loans drawn from Power

Finance Corporation Ltd.,

(Guaranteed by GOK

and Mortgage of assets)

53.960 1269 60 28 126 4970 16 09 619 1933 83 29 020 5182 05 99 068

Borrowings for working

capital :

Principal & Interest

Accrued and Due

51.1 &

51.2

TOTAL 4970 16 09 619 5182 05 99 068

Repayable in next 12 months 443 47 33 055 1469 57 69 825

Note : Short term loans hitherto inadvertently shown in Schedule -3 is now correctly shown in

Schedule-4


SCHEDULE: 04 UNSECURED LOANS

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Loans from REC -

Rationalised REC-Loans

(Guaranteed by GOK)

53.302 79 37 339 79 37 339 1 30 01 132 1 30 01 132

Short term Loans obtained

from Commercial Banks /

Financial Institutions

53.324 522 00 00 000 522 00 00 000

APDRP - REC Loan

Account53.336 6 58 29 525 6 58 29 525 7 68 01 113 7 68 01 113

FUNDS FROM STATE

GOVT.

State Govt. loans 54.200 7 12 88 661 7 12 88 661 7 72 29 383 7 72 29 383

TOTAL 536 50 55 525 16 70 31 628

Repayable within next 12 months/Conversion/ Roll over 524 11 56 465 2 19 76 102

Note : Short term loans hitherto shown in Schedule -3 is now shown in Schedule-4


SCHEDULE: 05 DEPOSIT CONTRIBUTION WORKS AND SECURITY DEPOSITS

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Deposit Contribution

works47.3 100 62 02 258 66 93 82 580

TOTAL 100 62 02 258 66 93 82 580

SCHEDULE: 5A DEFERRED TAX LIABILITY

(Amount in Rs.)

Sl.

No.Particulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Deferred Tax Liability 46.802 274 28 98 876 274 28 98 876

TOTAL 274 28 98 876 274 28 98 876


SC

HE

DU

LE

: 6 F

IXE

D A

SS

ET

S A

ND

AC

CU

MU

LA

TE

D D

EP

RE

CIA

TIO

N

(Am

ou

nt

in R

s.)

Gro

ss B

lock

Dep

recia

tio

nN

et

Blo

ck

Asset

Gro

up

A/c

Co

de

As a

t

01/0

4/2

010

Ad

dit

ion

sD

ed

uc

tio

ns/

Ad

jus

tme

nts

As a

t

31/0

3/2

011

A/c

Co

de

As a

t

01/0

4/2

010

Ad

dit

ion

sD

edu

ctio

ns/

Ad

just

men

ts

As a

t

31/0

3/2

011

As a

t

01/0

4/2

010

As a

t

31/0

3/2

011

Land &

Rig

hts

10.1

113

92

98

41

724

47

53 6

38 6

0 85

826

139

01 3

7 88

11

2.1

113

92

98

41

713

9 01

37

881

Land h

eld

under

Lease

10.1

034

43

84

79

4

- 9

15 0

214

34 6

9 77

3

4

43

84

79

44

34

69

77

3

Build

ings

10.2

30

5 8

3 7

8 4

55

52 4

8 81

738

1 99

95

279

360

32 5

5 47

21

2.2

68

79

13

12

01

0 8

9 3

4 7

61

40

03

35

1 8

0 0

8 5

1 2

32

237

04 6

5 33

528

0 24

04

240

Hydra

ulic

Work

s10.3

28

77

33

84

76

75 0

8 01

3 1

2 49

728

35 6

4 91

588

12

.3 3

50

57

75

41

67

22

45

6 2

09

78

6 5

19

89

99

62

5 2

6 7

6 0

93

30

45

01

59

2

Oth

er

Civ

il

Work

s10.4

29

07

30

94

93

38 7

7 76

0 7

33

246

32 5

3 41

955

12

.4 3

58

37

81

71

03

59

67

8 4

00

23

8 4

65

97

73

32

5 4

8 9

3 1

32

27

87

44

22

2

Pla

nt &

Machin

ery

10.5

4665

56

69 7

4166

2 43

58

371

-46

93 5

5 73

552

81 0

6 72

377

12

.513

63

28 0

9 00

525

4 07

43

825

-25

63 7

4 63

915

91

71 7

8 19

133

02 2

8 60

736

3689

34

94 1

86

Lin

es C

able

Netw

ork

s10.6

2640

56

60 0

2153

5 69

11

412

-25

16 0

1 75

631

51 0

9 69

677

12

.68

56 2

2 84

646

153

14 7

5 04

7-5

98

85 7

1010

03

38 7

3 98

317

84 3

3 75

375

2147

70

95 6

94

Vehic

les

10.7

7 0

5 1

7 1

20

13

97 9

08-

43 8

2 78

46

75 3

2 24

41

2.7

5 4

3 1

8 5

42

16

91

01

4-

39

77

68

9 5

20

31

86

71

61

98

57

81

55

00

37

7

Furn

iture

&

Fix

ture

s10.8

10

13

67

99

82

15 5

7 39

0-

90 1

9 04

211

39

06 3

461

2.8

3 4

0 8

9 5

50

72

10

61

2-

8 8

5 2

13

4 0

4 1

4 9

49

6 7

2 7

8 4

48

7 3

4 9

1 3

97

Offi c

e

Equip

ments

10.9

3 0

9 5

7 9

33

32

72 8

78-

9 08

637

3 33

22

174

12

.9 1

68

32

89

6 1

2 5

7 6

62

- 8

94

17

8 1

71

96

38

01

41

25

03

71

61

25

79

4

Softw

are

for

Inte

rnal U

se

18.1

01 1

2 2

9 0

08

-

12 2

9 00

8

12.8

01

12

29

00

8

To

tal

7

80

8 5

9 2

8 2

83

1287

85

19 1

08-7

0 93

47

904

9025

50

99 4

87

2305

91

43 3

3042

1 83

95

055

-31

74 0

4 05

426

96 0

1 34

331

5502

67

84 9

5363

29 4

9 65

156

Pre

vio

us

Year

fi g

ure

s

6

88

4 3

1 1

8 0

30

976

16 2

1 40

6-5

1 88

11

153

7808

59

28 2

83

1977

14

99 7

2036

8 52

03

005

-39

75 5

9 39

523

05 9

1 43

330

4907

16

18 3

1055

02 6

7 84

953


SCHEDULE: 07 CAPITAL WORKS IN PROGRESS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Capital Work in

Progress14 1771 65 36 285 1931 47 73 219

Sub Total 1771 65 36 285 1931 47 73 219

Revenue expenses

pending allocation

over Capital Works

15.201

to

15.206

7 51 483 5 88 191

Sub Total 7 51 483 5 88 191

Turnkey

Contractors Control

Account

26.605 819 56 55 001 990 69 31 474

Sub Total 819 56 55 001 990 69 31 474

TOTAL 2591 29 42 769 2922 22 92 884


SCHEDULE: 07A ASSETS NOT IN USE

(Amount in Rs.)

Sl.

NoParticulars A/c Code As at 31-03-2011 As at 31-03-2010

WDV of Obsolete /

Scrapped Assets16.1 6 01 23 460 6 41 02 111

WDV of Faulty / Disman-

tled Assets16.2 9 44 10 756 10 77 43 397

Sub Total 15 45 34 216 17 18 45 508

TOTAL 15 45 34 216 17 18 45 508


SCHEDULE: 7B DEFERRED COSTS

(Amount in Rs.)

Sl.

NoParticulars A/c Code As at 31-03-2011 As at 31-03-2010

Preliminary expenditure on

survey / feasability studies of

projects not yet sanctioned

17.301 184 77 566

TOTAL 184 77 566


SCHEDULE: 08 INVESTMENTS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

1 Investments:

Quoted

Un Quoted

Investments in Subsidiaries 20.3 Nil Nil

Investments in Partnership /

Joint Ventures20.4 Nil Nil

TOTAL Nil Nil


SCHEDULE: 09 INTEREST ACCRUED ON INVESTMENTS AND DEPOSITS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

TOTAL Nil Nil


SCHEDULE - 10 STORES AND SPARES

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Materials Stock

Account

Materials Stock Account 22.610 105 48 87 361 101 18 56 412

Materials in Transit

Account22.680 3 75 677 1 10 627

Sub-Total 105 52 63 038 101 19 67 039

Materials stock

Excess / Shortage

Pending Investigation

Stock Excess pending

Investigation22.810 - 2 89 398 - 6 72 840

Stock Shortage pending

investigation22.820 59 02 049 1 09 800

Sub-Total 56 12 651 - 5 63 040

TOTAL 106 08 75 689 101 14 03 999


SCHEDULE:11 SUNDRY DEBTORS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

(Un-secured and considered

good)

Sundry Debtors for

Transmission Charges

BESCOM 23.101 22 75 44 367 43 01 74 384

MESCOM 23.102 16 80 49 810 29 07 58 856

HESCOM 23.103 107 34 99 604 74 19 63 561

GESCOM 23.104 24 90 62 447 27 56 96 714

CESCO 23.107 62 60 17 125 69 42 23 605

Sundry Debtors for Transmission

charges- Hukkeri Co-op Soceity23.109 2 27 354 14 42 25 146

Sundry Debtors for sale of

Power – Inter State23.6 26 38 440

Sundry debtors - Delayed

payment charges23.7 2 62 95 131

Sub-Total 237 33 34 278 257 70 42 266

Less :

Provision for withdrawal of

Revenue demand23.8 - 92 35 580 -92 35 580

- 92 35 580 - 92 35 580

Net Receivables against

Supply of Power

Sundry Debtors - Others

28.101

to

28.109,

28.111

to

28.124

8 56 77 090 8 56 77 090 7 30 56 834 7 30 56 834

TOTAL 244 97 75 788 264 08 63 520

Annexure to Schedule 11 - Sundry Debtors

(Rs. in Crores)

1) Over 6 months old Nil

2) Others 244.98


SCHEDULE 12 : CASH AND BANK BALANCES

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Fixed Deposits with

Bank20.2 30 70 55 277 30 70 55 277 28 38 20 445 28 38 20 445

Cash Accounts

Cash on Hand 24.110 4 79 839 3 28 909

Postage stamps on

hand24.120 1 28 522 1 53 949

Sub-Total 6 08 361 4 82 858

Cash Imprest with

Staff – Accounts

Imprest 24.210 21 90 500 21 90 500 18 69 500 18 69 500

Collecting Bank

Accounts 24.3 6 66 60 598 6 66 60 598 1 64 39 584 1 64 39 584

Disbursement Bank

Account

Disbursement Bank

Account - State Bank of

Mysore

24.401 26 02 59 820 18 70 37 216

Disbursement Bank


India

24.402+

24.7305 87 21 899 5 29 63 580

Disbursement Bank


Hyderabad

24.403+

24.7402 92 71 745 4 53 481

Disbursement Bank

Account - Canara Bank

24.404+

24.7501 11 16 537 33 05 950

Disbursement Bank

Account - Syndicate

Bank

24.405+

24.7601 16 88 666 23 81 63 705

Disbursement Bank

Account - Punjab

National Bank

24.408 31 416 31 416

Disbursement Bank

Account - Vijaya Bank

24.409+

24.711 +

24.712

315 69 23 929 27 95 517


SCHEDULE 12 : CASH AND BANK BALANCES (Continued ….)

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Disbursement Bank

Account - Bank of

Baroda

24.420+

24.781+

24.417

77 98 833 10 12 47 649

Disbursement Bank

Account - Bank of

Maharastra

24.705 26 12 253

Disbursement Bank

Account - ICICI Bank

24.422,

24.803,

24.801

32 222 32 222

Disbursement Bank

Account - Bank of India

24.423+

24.810 29 11 165 10 00 00 000

Disbursement Bank

Account - Corporation

Bank

24.424+

24.820 1 08 314 10 01 34 916

Disbursement Bank

Account - HDFC Bank24.830 5 06 577 16 17 226

Govt. Treasury 24.850 81 976 81 976

Disbursement Bank

Account - Indian Bank24.860 6 19 784 10 11 29 751

Disbursement Bank

Account- Bank of

Rajasthan

24.870&

24.876 1 01 618 1 01 728

Disbursement Bank

Account- Uco Bank 24.880 38 57 171

Disbursement Bank

Account- Punjab and

Sind Bank

24.890 69 36 036 10 00 00 000

Disbursement Bank

Accounts24.4 355 35 79 961 355 35 79 961 98 90 96 333 98 90 96 333

Remittance to Head

Offi ce -Transit Account24.5 3 30 288 3 30 288 6 89 72 587 6 89 72 587

Transfers from Head

Offi ce In Transit

Account

24.6 27 70 42 065 27 70 42 065

TOTAL 393 04 24 985 163 77 23 372


SCHEDULE 13 : LOANS AND ADVANCES

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Advances Recoverable

in cash or in kind or for

value to be received

A)Advance Income Tax and

Tax deductions at source

27.4 &

28.82141 62 77 283 38 39 31 782

41 62 77 283 38 39 31 782

B) Secured Advance

Advances to Staff -

Interest Bearing

27.101

to

27.106

55 37 557 95 58 398

Advances to Staff -

Interest Free

27.201

to

27.210

2 93 88 209 2 35 01 680

3 49 25 766 3 30 60 078

C) Unsecured Advance

I) Considered Good

Suppliers and Contractors25 &

2640 14 74 199 17 38 65 578

Advances to Contractors 28.411 76 20 94 975 116 35 69 174 17 38 65 578

TOTAL 161 47 72 223 59 08 57 438


SCHEDULE 14 : OTHER ASSETS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Income Accrued but

not Due28.3 1 67 37 021 52 38 777

Amounts

Recoverable from

Employees

28.4 4 69 58 764 4 83 78 246

Subsidy / Grants

receivable from

GOK

28.620 1398 42 11 876 1399 70 33 458

Claims for Loss /

Damage to Capital

Assets

28.74 2 82 478 2 05 606

Other Receivables -

BESCOM

28.8 &

28.9,

28.125

63 61 40 531 5 76 14 271

Other Receivables -

MESCOM

28.8 &

28.9,

28.126

20 30 87 490 10 01 36 208

Other Receivables -

HESCOM

28.8 &

28.9,

28.12729 19 23 768 3 72 83 661

Other Receivables -

GESCOM

28.8 &

28.9,

28.12824 34 63 187 7 53 51 344

Other Receivables -

CESCO

28.9

10 59 10 360 19 61 043

Receivables -

P & G Trust

28.907

15 43 25 117

Other Receivables 28.8 &

28.9 97 66 10 734 83 43 37 709

UI Charges

pertaining to Intra

state ABT

28.976

to

28.980

117 33 98 431 117 33 98 431

Prepaid Expenses 28.820

1 63 74 691 1 64 43 650


SCHEDULE 14 : OTHER ASSETS (Continued ….)

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Deposits

28.930

to

28.937

49 10 57 620 54 50 95 440

Regulatory

Asset-Receivable

towards additional

fi xed cost of

TBPCL from

ESCOMS

28.968

to

28.973

543 84 00 000 543 84 00 000

Balance of Banked

Energy as at Year

end

29.101 6 085

Inter Unit Accounts 31 to 37 -30 18 87 184 -61 11 10 123

Pooled Loan

Account53.999 28 96 56 559 77 95 19 332

2376 66 51 443 2249 92 93 138

TOTAL 2376 66 51 443 2249 92 93 138


SCHEDULE 15 : CURRENT LIABILITIES & PROVISIONS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

I LIABILITIES

Sundry Creditors for

purchase of power

Tamilnadu Electricity Board 41.101 26 44 50 757 26 44 50 757

Andhra Pradesh

Transmission Corp.41.104 3 85 04 127 3 85 04 127

Karnataka Power

Corporation Ltd.41.108 1507 15 55 675 1398 94 34 305

Visvesvaraya Vidyuth

Nigama Limited41.109 27 28 35 035 27 28 35 035

P.G.C.I.L. 41.113 88 54 274 1 68 32 219

JTPCL 41.125 9 97 40 936 9 97 40 936

Royalaseema Alkalies 41.129 2 23 50 948 2 23 50 948

Tata Company Ltd. 41.131 1 90 96 055 1 90 96 055

Thanneerbhavi Co. Ltd. 41.133 43 69 663 43 69 663

Chathisghar State

Electricity Board41.156 83 32 195 83 32 195

Mysore Paper Mills Ltd 41.301 7 74 93 528 7 74 93 528

Provision for Liability for

Purchase of Power41.500 15 83 806 15 83 806

Provision for Liability for

Unutilized Balance of

Banked Energy as at the

Year end

41.600 6 085

Sub-Total 1588 91 66 999 1481 50 29 659

Liability for Suppliers/

Works42 106 73 38 011 106 73 38 011 240 82 54 586 240 82 54 586

Payables - BESCOM 42 69 32 83 730 69 99 29 573

Payables - MESCOM 42 9 08 42 685 9 08 42 685

Payables - HESCOM 42 26 91 82 147 26 88 31 283

Payables - GESCOM 42 3 72 53 609 3 75 68 477

Payables - CESCO 42 9 57 93 516 9 57 93 516

118 63 55 687 119 29 65 534

Provision for Pension and

Gratuity payable to P&G

Trust

44.122,

44.274,

44.275

74 64 23 851 23 19 45 375


SCHEDULE 15 : CURRENT LIABILITIES & PROVISIONS (Continued ….)

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Transmission charges

collected pending

Refi xation of Tariff-

Hukkeri

46.989 1 26 18 427 1 26 18 427

Transmission charges

collected pending

Refi xation of Tariff-

ESCOMS

46.984

to

46.988

261 17 65 715 261 17 65 715

Payables - ESCOMS 42 & 46 40 89 82 357 9 77 01 111

Sub Total 377 97 90 350 295 40 30 628

Staff Related Liabilities

Unpaid Salaries 44.210 77 535 1 22 870

Unpaid Bonus 44.220 26 289 38 233

Salary payable44.310 &

44.311 20 95 023 12 71 536

Bonus payable 44.320 58 08 519 99 30 428

Ex-gratia payable 44.330 2 96 23 184 2 33 64 748

Sub Total 3 76 30 550 3 47 27 815

Other Liabilities and

Provisions

Security Deposits in

cash from Suppliers/

Contractors

46.101 54 53 86 662 68 53 56 253

KPTCL Pensioners/

Family Pensioners Family

Benefi t/ Security Fund

46.103 4 56 63 742 2 75 66 873

Retention Money - Bill

amount retained as per

terms of P.O / Turnkey

Contract

46.104 483 32 41 454 532 57 91 610

Funds received from

Resources Section,

KPTCL to SLDC

46.108 31 60 71 135 15 14 94 237

Penalty recovered

pending decision for

refund

46.109 346 10 27 001 279 68 55 028

Encashment of Bank

Gaurantee pending

decision for adjustment to

Capital works

56.202 2 54 48 076 3 64 04 008


SCHEDULE 15 : CURRENT LIABILITIES & PROVISIONS (Continued ….)

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeAs at 31-03-2011 As at 31-03-2010

Electricity Tax and

Other levies payable to

Government

46.300 5 40 140

Liability for Expenses

46.410

to

46.470

96 85 78 614 52 44 60 254

Cheques issued in transit24.7 &

24.8 104 22 62 997

Interest accrued but not

due on borrowings46.710 33 47 98 948 47 67 01 608

Sundry Liabilities 46.9 203 11 52 990 34 82 88 400

UI Charges payable- Intra

state ABT

46.990

to

46.994

117 33 98 431 117 33 98 431

Security Deposit from

Employees46.920 52 800 48 500

Miscellaneous Deposit 46.966 50 40 79 663 44 80 25 898

Additional Fixed cost

of TBPCL recoverable

from ESCOMS pending

adjustment to subsidy

46.983 543 84 00 000 543 84 00 000

Loans of KPTCL parked

with GOK53.998 28 96 56 559 77 95 19 332

Adjustments pending re-

notifi cation by GOK

52.304

to

52.309

43 23 94 689 42 94 38 843

Sub-Total 2039 98 90 904 1968 40 12 272

II Provisions

Provision for Leave

encashment and Family

Benefi t Fund

44.130,

44.140 to

44.142

67 66 68 633 69 32 65 185

Provision for Income-Tax 46.800 35 95 19 017 35 63 39 241

Provision for FBT 46.801 1 66 86 000 4 99 84 335

Sub-Total 105 28 73 650 109 95 88 761

TOTAL 4341 30 46 151 4218 86 09 255


SCHEDULE: 16 REVENUE FROM TRANSMISSION OF POWER

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeCurent Year 2010-11 Previous Year 2009-10

Transmission

Charges :

BESCOM 61.211 595 09 68 264 446 47 04 925

MESCOM 61.212 96 85 64 358 69 57 03 839

HESCOM 61.213 236 89 75 154 169 31 23 796

GESCOM 61.214 136 83 18 528 112 96 64 605

CESC 61.217 113 70 74 166 86 78 41 338

Open Access

Customers61.218 22 95 10 720 26 12 63 959

Hukkeri Co-op

Soceity61.219 5 27 08 846 3 86 94 607

Sub - total 1207 61 20 036 915 09 97 069

Wheeling charges

recoveries61.8 5 00 24 751 5 00 24 751 7 00 96 779 7 00 96 779

Delayed payment

charges from Hukkeri

Electricity Co-op

Soceity

61.915 2 62 95 130 4 22 68 031

Sub - total 2 62 95 130 4 22 68 031

Less: Withdrawal of

Revenue Demand83.830 - 2 18 310 - 2 18 310 -78 35 972 -78 35 972

TOTAL 1215 22 21 607 925 55 25 907


SCHEDULE: 17 REVENUE SUBSIDIES AND GRANTS

(Amount in Rs.)

Sl.

NoParticulars

A/c

CodeCurrent Year 2010-11 Previous Year 2009-10

i) R.E. Subsidies 63.110

ii)Grant-in aid for Survey and

Investigation63.130

iii) Grant for HKDP Works 63.140

iv)Assistance for special

component plan63.141

v) Assistance for Tribal sub-plan 63.142

TOTAL Nil Nil


SCHEDULE: 18 OTHER INCOME

(Amount in Rs.)

Sl.

NoParticulars

A/c


Interest on Staff Loans

and Advances

62.210

to

62.214

1 31 05 180 1 31 05 180 96 76 673 96 76 673

Other income -

Interest

Interest on securities 62.221 600 600

Interest on Bank Fixed

Deposits62.222 3 22 45 329 2 97 58 078

Interest from Banks 62.270 68 555 38 549

Sub-Total 3 23 14 484 2 97 97 227

Other Income

Profi t on sale of stores 62.330 1 35 01 025 2 01 55 922

Sale of scrap 62.340 8 79 62 032 2 61 17 623

Other Miscellaneous

receipts 62.360 1 77 76 080 1 95 12 563

Reactive Energy

Charges demanded

on IPPs

62.361 1 41 566

Revenue from IPPs

for excess drawal of

Energy from KPTCL’s

Grid

62.362 6 97 672 4 943

Open access

Processing fee62.363 40 48 960 44 96 000

Gain on Sale of Assets 62.400 86 81 855

Sub-Total 12 41 27 335 7 89 68 906

Miscellaneous

Receipts

Rental from Staff

Quarters62.901 4 77 45 887 4 72 04 077

Rental from others 62.902 7 13 454 7 64 523

Excess found on

physical verifi cation of

Cash

62.904 703


SCHEDULE: 18 OTHER INCOME (Continued ....)

(Amount in Rs.)

Sl.

NoParticulars

A/c


Excess found on

physical verifi cation of

Materials Stock

62.905 4 74 020 10 09 988

Supervision Charges 62.907 7 83 31 919 6 89 51 361

Miscellaneous

Recoveries62.917 202 33 29 165 36 18 71 927

Incentives received 62.918 2 35 035 4 65 314

Rental from BESCOM 62.925 4 25 85 727 3 69 78 697

Rental from MESCOM 62.926 55 74 232 54 50 767

Rental from HESCOM 62.927 42 23 488 52 04 626

Rental from GESCOM 62.928 37 60 171 39 58 304

Rental from CESC 62.929 68 20 906 58 76 587

Excess provision in

earlier years no longer

required

62.923 12 34 30 270 245 23 17 182

Sub-Total 233 72 24 274 299 00 54 056

Less : Withdrawal of

Miscellaneous Income83.834 -11 05 77 868 -11 05 77 868 -4 51 59 500 -4 51 59 500

TOTAL 239 61 93 405 306 33 37 362


SCHEDULE: 19 PURCHASE OF POWER

(Amount in Rs.)

Sl.

NoParticulars

A/c


Purchase of Power *

Tamilnadu Electricity Board 70.101 24 36 589 39 05 811

National Thermal Power

Corporation - RSTP70.110 96 97 855

Transmission charges to

Power Grid Corporation of

India Ltd.,

70.113 91 00 112 4 80 73 616

Bhagya Nagar solvent

extractions Ltd.(5.4 MW)70.219 25 48 255

Poweronicks Ltd.(5.4 MW) 70.256 1 74 65 450

Sub Total 1 15 36 701 8 16 90 987

TOTAL 1 15 36 701 8 16 90 987

Note- *The Expenditure Booked during the year pertain to the Power Purchased prior to

9/06/2005 the rate of which has been revised during the year with retrospective

effect


SCHEDULE: 20 REPAIRS AND MAINTENANCE

(Amount in Rs.)

Sl.

NoParticulars

A/c


Plant and Machinery 74.1 48 80 89 989 45 08 58 608

Buildings 74.2 15 25 88 317 13 09 04 016

Civil Works 74.3 2 44 52 787 1 65 64 957

Lines, Cable Net Work

Etc.74.5 7 53 38 370 7 38 34 949

Vehicles 74.6 45 05 933 54 34 075

Furniture and Fixtures 74.7 1 55 579 72 364

Offi ce Equipments 74.8 29 45 572 29 71 105

Sub Total 74 80 76 547 68 06 40 074

Less : Expenses shared

by ESCOMS74.910 -3 78 79 532 -1 39 82 800

TOTAL 71 01 97 015 66 66 57 274


SCHEDULE: 21 EMPLOYEE COST

(Amount in Rs.)

Sl.

NoParticulars

A/c


Salaries 75.1 123 13 20 849 86 54 83 043

Dearness Pay

75.180

to

75.185

72 69 29 616 59 18 74 355

Over Time 75.2 4 38 84 374 4 45 04 119

Dearness Allowance 75.3 106 48 51 045 55 67 19 568

Other Allowances 75.4 30 75 12 899 21 32 60 343

Bonus & Exgratia 75.5 4 37 98 325 3 52 22 487

Sub-Total 341 82 97 108 230 70 63 915

Medical Expenses

reimbursement75.611 3 46 78 201 3 34 59 026

Leave travel assistance 75.612 34 716

Earned leave

encashment75.617 13 40 06 595 9 60 66 499

Payment under

workmens

compensation Act

75.629 9 82 505

Payment to helpers/

employees of Monsoon

gang

75.630 1 23 20 116 1 63 43 284

Sub-Total 18 20 22 133 14 58 68 809

Staff Welfare expenses 75.7 1 81 44 544 1 77 43 520

Terminal Benefi ts 75.8 8 10 51 149 6 58 33 747

KPTCL Contribution to

P&G Trust

75.830

&

75.840

48 16 17 373 14 19 644

Sub-Total 58 08 13 066 8 49 96 911

Less : Expenses

shared by ESCOMS75.910 -7 54 52 228 -7 54 52 228 -7 07 17 507 -7 07 17 507

TOTAL 410 56 80 079 246 72 12 128


SCHEDULE: 22 ADMINISTRATION AND GENERAL EXPENSES

(Amount in Rs.)

Sl.

NoParticulars

A/c


Administration

Expenses

1 Rent 76.101 56 67 926 62 84 836

2 Rates & Taxes 76.102 1 49 31 001 4 70 60 661

3 Expenses incurred

towards security

arrangements

76.103 1 98 06 375 1 70 56 623

4 Insurance 76.104 +

76.105 +

76.106

38 652 1 37 457

5 Pagers cellular phones

E-mail, Telephone, Trunk

call, Telegrams and Telex

Charges

76.111 +

76.112

2 11 07 310 3 21 88 851

6 Postage 76.113,

76.114

1 36 87 580 1 40 60 405

7 Air net, Internet &

Broadband Charges

76.116 1 99 98 937 12 45 811

8 Legal Charges 76.121 87 88 722 76 73 512

9 Audit Fees includes

Statutory Audit Fee + Tax

Audit Fee Rs.800000

Cost Audit Fee-

Rs. 75000

76.122 13 79 950 6 75 702

10 Consultancy charges 76.123 13 91 416 11 28 669

11 Technical Fees 76.124 44 500

12 Other Professional

Charges

76.125 +

76.126 +

76.127 +

76.128 +

76.129

3 95 16 979 3 87 31 939


SCHEDULE: 22 ADMINISTRATION AND GENERAL EXPENSES (Continued …)

(Amount in Rs.)

Sl.

NoParticulars A/c Code Current Year 2010-11 Previous Year 2009-10

13 Conveyance & Travel

expenses

76.131 To

76.135 &

76.137 to

76.139

11 47 67 044 10 49 80 019

14 Vehicle running

expenses

76.136 2 73 79 923 2 44 48 773

Sub - Total 28 85 06 315 29 56 73 258

OTHER EXPENSES

15 Fees & Subscriptions 76.151 1 49 19 903 1 35 23 089

16 Books, periodicals

and dairies

76.152 3 77 528 3 21 308

17 Printing & Stationery 76.153 1 09 25 078 1 15 53 628

18 Advertisement

Expenses

76.155 2 18 37 058 1 74 78 810

19 Computer stationary

and fl oppies

76.156 28 73 298 29 10 433

20 Contributions 76.157 3 13 65 000

21 Electricity Charges 76.158 2 98 80 817 2 97 87 958

22 Water Charges 76.160 29 14 198 41 03 818

23 Entertainment 76.162 1 76 371 3 39 879

24 Contributions to

Workers wellfare cess

76.166 16 42 273

25 Miscellaneous

expenses

76.190 +

76.191+

76.192

1 06 77 876 1 02 70 338

26 Freight & other

material related

expenses

76.201 To

76.282

52 25 000 14 50 930

Sub - Total 9 98 07 127 12 47 47 464

Less : Expenses

shared by ESCOMS

76.910 -4 06 98 207 -4 06 98 207 -1 69 67 934 -1 69 67 934

TOTAL 34 76 15 235 40 34 52 788


SCHEDULE: 23 OTHER EXPENSES

(Amount in Rs.)

Sl.

NoParticulars

A/c


Asset Decommissioning

Costs77.5 25 05 972 40 11 009

Small & Low value items

Written off77.600 2 00 899 50 136

Computer software 77.611 12 79 736 85 767

Losses relating to Fixed

Assets77.7 18 29 982 26 24 380

Material Cost Variance 79.110 17 43 046

Research & Development

Expenses79.2 3 11 349 13 11 752

Bad & Doubtful Debts Written

off / provided for79.4 19 39 838

Miscellaneous losses and

Write offs

79.5 &

79.71 11 52 402 35 46 67 571

TOTAL 1 72 80 340 36 64 33 499


SCHEDULE: 24 OTHER EXPENSES CAPITALISED

(Amount in Rs.)

Sl.

NoParticulars

A/c


Repairs and

Maintenance 74.900 11 07 480 13 06 971

Employee costs 75.900 23 77 54 000 21 59 47 616

Administration and

other expenses 76.900 3 68 70 808 3 47 66 925

TOTAL 27 57 32 288 25 20 21 512


SCHEDULE: 25 DEPRECIATION

(Amount in Rs.)

Sl.

NoParticulars

A/c


Amortisation of Lease

Hold Assets77.110 9 25 641 60 76 535

Depreciation on

Buildings77.120 10 89 34 761 9 46 96 972

Depreciation on

Hydraulic Works77.130 1 67 22 456 1 35 62 838

Depreciation on Civil

Works77.140 1 03 59 678 91 67 167

Depreciation on Plant

and Machinery

77.150+

77.151245 77 04 520 219 58 60 326

Depreciation on lines,

cable, network etc.,

77.160+

77.161146 70 48 590 125 71 91 461

Depreciation on

Vehicles

77.170+

77.171 16 91 014 16 00 163

Depreciation on

furniture, fi xtures

77.180+

77.181 72 10 612 55 27 983

Depreciation on Offi ce

equipments

77.190+

77.191 12 57 663 15 20 152

Depreciation on

Intangible Assets77.801 27 07 572

Sub-Total 407 18 54 935 358 79 11 169

Less : Depreciation

Capitalised77.900 - 19 65 644 - 22 03 788

TOTAL 406 98 89 291 358 57 07 381


SCHEDULE: 26 INTEREST AND OTHER CHARGES

(Amount in Rs.)

Sl.

NoParticulars

A/c


Interest on Bonds 78.2 18 90 222

Interest on Loan from

REC78.540 3 46 37 059 4 79 47 852

Interest on

Rationalised REC

Loans

78.541 9 90 963 15 60 096

Interest on APDP

works78.544 83 59 826 95 64 562

Interest on Short term

Loan obtained from

Commercial Banks/

Financial institutions

78.563 65 79 55 841 68 25 70 929

Interest on Loans

from UCO Bank78.564 47 52 26 615 1 90 53 513

Interest on Loans

from Vijaya Bank78.569 63 45 20 244 35 13 13 604

Interest on Loans

drawn from South

Indian Bank

78.573 5 91 18 920 9 16 93 797

Interest on Loans

drawn from PNB78.574 20 19 01 837 20 95 47 990

Interest on Loans

drawn from OBC78.575 6 52 73 030 8 07 96 901

Interest on Loans

drawn from

Corporation Bank

78.576 17 28 41 604 9 91 12 750

Interest on Loans

drawn from Bank of

Maharastra

78.577 14 24 92 344 11 07 22 337

Interest on Loans

drawn from Bank of

India

78.578 32 49 87 344 16 28 60 448

Interest on loan from

Bank of Baroda78.579 16 14 70 018 17 77 48 684


HDFC78.582 4 26 169 8 08 615


SCHEDULE: 26 INTEREST AND OTHER CHARGES (Continued ….)

(Amount in Rs.)

Sl.

NoParticulars

A/c



PFC78.584 188 73 46 160 239 66 84 882

Interest on Capital

Liability78.590 1 83 969

Interest on delayed

compensation78.101 3 14 32 209


Indian Bank78.591 17 54 87 972 9 62 22 435


Bank of Rajasthan78.592 9 99 90 696 9 99 77 413


Punjab and Sindh

Bank

78.593 82 69 684


Canara Bank78.594 4 94 65 444

Interest on

Borrowings for

Working Capital

78.7 2 243 2 41 121

Other Interest and

Finance Charges

78.820

To

78.890

41 03 656 58 88 734

Interest on belated

payment for power

purchase

80.102

to

80.293

108 21 21 370 109 04 01 229

Sub-Total 624 71 73 008 576 80 40 323

Less : Interest and

fi nance charges

capitalised

78.9 -87 38 76 119 -93 10 09 234

TOTAL 537 32 96 889 483 70 31 089


SCHEDULE: 27 PROVISION FOR TAXATION

(Amount in Rs.)

Sl.

NoParticulars

A/c


Income Tax - Current

year81.100 31 79 781 31 79 781 1 10 00 000 1 10 00 000

Fringe Benefi t Tax 81.101 - 54 01 708 - 54 01 708

Short Provision for

Income Tax - Previous

Year

83.810 44 76 140 44 76 140

Excess Provision for

Income Tax - Previous

Year

65.500 -3 07 55 251 -3 07 55 251

Deferred Tax 81.201

TOTAL 76 55 921 -2 51 56 959


SCHEDULE: 28 EXTRAORDINARY ITEMS

(Amount in Rs.)

Sl.

NoParticulars

A/c


Extraordinary Credits

(including susidies against

loss on account of fl ood, fi re,

cyclone, etc.,)

63.200

TOTAL Nil Nil

Less Extraordinary debits

(Losses on account of fl ood,

cyclone, fi re etc.)

79.8

TOTAL Nil Nil

Net extraordinary items


SCHEDULE: 29 PRIOR PERIOD (CREDITS) / CHARGES

(Amount in Rs.)

Sl.

NoParticulars

A/c


A)Income relating to

previous years :

Excess provision for

Depreciation in prior

periods

65.600 5 05 01 086 4 91 64 090

Other Excess provision in

prior periods65.800 77 290 3 30 918

Other Income relating to

prior periods65.900 41 870 39 74 347

Sub - Total 5 06 20 246 5 34 69 355

B)Prior Period Expenses /

losses :

Operating Expenses of

previous years83.300 77 957 7 785

Employee costs relating to

previous years83.500 2 92 999 22 849

Depreciation under

provided in previous years83.600 22 23 16 285 15 63 78 758

Administrative Expenses -

previous years

83.820,

83.8219 112 0

Other Expenses relating to

prior periods83.850 2 27 153 1 23 660

Sub - Total 22 29 23 506 15 65 33 052

Net Prior Period credits/

(charges) (A-B) -17 23 03 260 -10 30 63 697


Schedule – 30

SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation1.

Financial statements have been prepared under historical cost convention on a 1.1.

going concern and accrual basis except for accounting on cash basis for Grants

and Subsidies from the Government; and comply materially with the mandatory

Accounting Standards issued by The Institute of Chartered Accountants of India

(ICAI), Generally Accepted Accounting Principles (GAAP), Provisions of the

Electricity Act, 2003 and Electricity (Supply) Annual Accounts Rules (ESAAR),

1985 and relevant provisions of the Companies Act, 1956 to the extent that they

are not inconsistent with the provisions of Electricity Act, 2003 and Electricity

(Supply) Annual Accounts Rules (ESAAR), 1985.

Revenue Recognition2.

Revenue from Transmission &, Wheeling is recognized on accrual basis at 2.1.

the tariff as notifi ed by Karnataka Electricity Regulatory Commission (KERC)

from time to time in its Multi Year Tariff (MYT) which is arrived on the basis of

estimated Return on Equity and relevant aspects. Revenue from Other Sources

is also accounted on accrual basis.

Fixed Assets 3.

Fixed assets are stated at cost including expenses related to acquisition, 3.1.

construction and installation less accumulated depreciation and impairment

loss.

Establishment and other administration expenditure of Works Circles and Major 3.2.

Works Divisions are allocated to the capital works handled by the respective

Divisions and form part of the cost of assets.

Assets put up by third parties, which vest in the Corporation under Regulation 3.3.

for Condition of Supply of Electricity issued by the KERC, are incorporated in

the books at the cost estimate approved by the Corporation in the absence of

actual cost.

Land cost includes acquisition cost, including enhanced compensation paid as 3.4.

awarded by the Courts, Compensation paid for afforestation and social forestry

for the project affected local people/families.


Expenditure on replacement of assets/part of asset with independent existence 3.5.

are capitalised irrespective of the cost. The Original Cost and Accumulated

Depreciation thereon in respect of replaced assets are removed from

Accounts.

Depreciation4.

Depreciation is calculated on straight line method:4.1.

at the rates notifi ed by CERC from time to time;i.

in respect of assets for which rates are not specifi ed in the Electricity ii.

Supply Act, 2003, at the rates specifi ed under Schedule XIV of the Companies

Act, 1956.

Assets are depreciated to the extent of 90% of the cost of the asset and 10% is 4.2.

retained as residual value.

For additions to assets from 1.4.2007, depreciation is provided from the beginning 4.3.

of the month of addition. For additions to assets up to 31.3.2007, depreciation

has been provided from the year succeeding the year of addition.

Depreciation is charged upto the previous month in which asset is discarded/4.4.

dismantled.

Individual assets costing up to Rs. 500 are fully depreciated in the year in which 4.5.

they are put to use.

Where the carrying amount of any fi xed asset has undergone a change in 4.6.

accordance with the policy for foreign currency transactions, depreciation on

the unamortized depreciable asset is spread over the useful life of the asset.

Depreciation on structures and other assets put up on leasehold properties are 4.7.

depreciated at normal rates without linking it to the lease period.

Depreciation is not charged on transformers and other assets issued for repairs. 4.8.

Depreciation charge is resumed after the asset is put back to use after repairs.

Depreciation on deposit contribution, consumer built and grant assets are 4.9.

charged to revenue and not set off against capital reserve.


Accounting for Grants 5.

Capital grants/grants related to specifi c assets are shown under Capital Reserve 5.1.

and not reduced from the cost of the asset.

Revenue and untied grants are treated as income.5.2.

Reserves & Surplus6.

Capital Reserve 6.1.

Deposit Contribution Works6.1.1.

Works executed/assets created out of contributions received from the third i.

parties vest in the Corporation under Regulation for Condition of Supply of

Electricity by the KERC, and they are incorporated as asset in the books at

the full value without reducing the contribution from the cost of the asset.

Contributions received from third parties towards works/assets are treated ii.

as capital reserve.

Investments7.

Long term investments are carried at cost. Provision is made for diminution, 7.1.

other than temporary, in the value of such investments.

Current investments are valued at lower of cost and fair market value.7.2.

Valuation of Inventories8.

Fast moving Stores and spares are valued at standard rates, determined by the 8.1.

Corporation from time to time, in respect of items for which standard rates are

fi xed. Other items are valued at lower of cost, determined on weighted average

method, or net realizable value. The difference between actual cost and the

Standard rate is debited to credited to Material Cost Variance Account, as the

case may be. The balance under this account is transferred to Material Cost

Variance Reserve. The debit balance under Material Cost Variance Reserve is

debited to P&L Account.

Borrowing Costs9.

Borrowing costs attributable to the construction/acquisition of qualifying assets 9.1.

are capitalized as a part of the cost of such assets. A qualifying asset is one that

necessarily takes substantial time to get ready for intended use.


Non specifi c borrowing costs for acquisition of qualifying assets are apportioned 9.2.

to individual assets in the ratio of expenditure on assets to such borrowing costs,

quantum of borrowing costs being determined on the basis of weighted average

cost of the borrowings outstanding during the period. Other borrowing costs are

recognized in the period which they are incurred.

Employee Benefi ts10.

Expenditure towards Gratuity, Pension and Leave Encashment is provided on 10.1.

the basis of actuarial valuation at the end of each fi nancial year in conformity with

the revised Accounting Standard - 15. Actuarial gains or losses are recognized

in the Profi t and Loss account.

Accounting for Taxes on Income11.

Provision for Current Tax is made in accordance with the provisions of the 11.1.

Income Tax Act, 1961.

Deferred tax on account of timing difference between taxable and accounting 11.2.

income is provided using the tax rates and tax laws enacted or substantially

enacted by the Balance Sheet date.

Deferred Tax is recognized, being the difference between taxable income and 11.3.

accounting income that originate in one period and are capable of reversal in

one or more subsequent periods. Deferred tax assets are recognized, if there is

virtual certainty of realization of such assets.

Foreign Currency Transactions12.

Foreign currency transactions are initially recorded at the exchange rate 12.1.

prevailing on the date of the transaction.

Foreign Currency monetary assets and liabilities are translated at the year 12.2.

end exchange rates. Exchange differences related to liabilities for acquisition

of fi xed assets from outside India are adjusted in the carrying cost of assets.

Exchange differences arising on other transactions are recognized as income

or expenditure in the year in which it arises.

Impairment of Assets13.

Carrying amount of assets is reviewed at each balance sheet date to determine 13.1.

whether there is any impairment.


An impairment loss is recognized, whenever the carrying amount of such assets 13.2.

exceed the recoverable amount. Reversal of impairment loss is recognized as

income in the profi t and loss account.

Amortization of Intangible Assets14.

Cost of software purchased is recognized as intangible asset and amortized on 14.1.

straight line method over a period of three years, commencing from the year of

purchase.

Amortisation of lease assets 15.

Lease payments made upfront in respect of leased assets are amortized in 15.1.

equal installments over the lease period of the asset.

Annual lease rent payments are charged to revenue.15.2.

Cost of improvements made to leased assets is amortized in equal installments 15.3.

over remaining lease period of the asset.


Schedule – 31

NOTES ON ACCOUNTS

General

Previous year fi gures have been regrouped / recast wherever necessary

Paisa has been rounded off to the nearest rupee.

Balances of Sundry Debtors, Sundry Creditors, Advances to suppliers are subject to

confi rmation and reconciliation, wherever required.

Contingent Liabilities not provided for in the Accounts:1.

(Rs. In Crores)

Sl.

No.Particulars

Current

Year

Previous

Year

(i) Claims against the company not acknowledged as debts:

Claims in respect of Land Acquisition Cases 0.68 2.05

Income Tax Demand pending before Appellate authorities 0 61.39

Others 18.46 17.34

(ii) Estimated Amount of capital contracts remaining to be

executed and not provided for 3631.39 3834.52

Value of Imports calculated on CIF basis:2.

(Rs. In Crores)

Sl. No. Particulars Current Year Previous Year

i Raw materials, spare parts and capital goods NIL NIL

ii Capital goods NIL NIL

Expenditure in foreign currency:3.

Sl. No. Particulars Current Year Previous Year

i Expenditure in foreign currency on account of

Travelling*

*Represents amount reimbursed to

employees for foreign travel

Rs.14,95,982/- Rs.36,958/-

Value of indigenous and imported stores Spares and components consumed:4.

Sl.No. Particulars Current Year Previous Year

i. Indigenous Materials Not ascertainable Not ascertainable

ii Imported Materials Not ascertainable Not ascertainable


Quantitative details of Transmission and Loss of Energy:5.

(In MUs)

Sl.

No.Particulars

Current Year

(Provisional)

Previous

Year

1 Total Energy handled 50516.39 47783.55

2 Total Energy Transmitted 50516.39 47783.55

3 Transmission Loss in respect of Energy Transmitted 2219.34 2007.67

4Net Transmission to ESCOMS & Hukkeri society

during the year (2-3)48297.13 45775.88

5Total units accounted as Transmitted to ESCOMS &

Hukkeri society during the year * 48297.13 45775.88

6 Total Transmission loss 2219.34 2007.67

7Percentage of Transmission Loss on handled Energy

(vii / i. X 100)4.39% 4.20%

* includes 2807.923 Mus (Previous Year 4002.530 Mus ) of energy in respect of Bilateral

& Open Access and Wheeled Energy

6. Fixed Assets

(a) Land and Title Deeds

Corporation is in possession of lands aggregating 6712 Acres 13 Guntas consisting

of 6161 A 16 G under full ownership, 173 A 13 G of Forest land and 377 A 24 G of Government

& Private Lands on lease.

Further, process of updating the land records including title is in progress.

7. Land and Buildings

Land and Buildings (including Powerhouses) but excluding installations have been

accounted on the basis of Balance Sheet Restructuring Program issued by the Government

of Karnataka. Formalities for transfer of title of certain assets in favor of the Corporation are

pending.

8. Sale of Land to PGCIL:

Corporation has received Rs. 5.47 Crores from Power Grid Corporation of India

Ltd., towards 64 acres of land at Narendra, Dharwad, which is held under Deposit. Pending


execution of sale deed, possession of land is handed over to PGCIL. Required accounting

adjustments would be carried out on execution of sale deed.

9. Assets Not in Use

Corporation has identifi ed assets “Not in Use” aggregating Rs 9,38,51,250 on which

depreciation has been claimed at normal rates.

Transformers with book value of Rs 15,51,74,914 sent for repairs have been withdrawn

from the gross block and grouped under Loans & Advances. No depreciation is charged on

such assets during the period of repair.

10. Leased Assets

On expiry of the lease period of assets obtained on lease from IDBI, negotiations are

still in progress to terminate the lease agreement and for repossession of the assets. Lessor

has demanded Rs 1,12,50,000 for transferring title over the assets.

11. Confi rmation of balances

Confi rmation of balances have not been obtained for the balances under secured &

unsecured loans and other current assets & current liabilities other than Bank balances.

12. Balance with ESCOMS

Receivables and Payables in the names of ESCOMs (otherthan relating to S.Drs for

Transmission of Power), as detailed below, are subject to reconciliation and confi rmation:

(Rs. In Crores)

Name of the ESCOM Receivable Payable

BESCOM 63.61 69.33

MESCOM 20.31 9.08

HESCOM 29.19 26.92

GESCOM 24.35 3.73

CESCOM 10.59 9.58

13. Inter Unit Accounts(IUA)

Unreconciled net credit balance under IUA is Rs 30,18,87,184 (Previous Year

Rs 61,11,10,123) as at 31.03.2011. This includes several old transactions pending reconciliation/

clearance.


14. Property Tax /Land Cess

Provision has not been made towards Property Tax including vacant lands and same

shall be accounted, as and when payment is made. Impact on fi nancial statements is not

ascertainable.

15. Income Tax

Company has already provided Deferred Tax Liability to an extent of Rs.274.29 crores

upto previous year 2007-08. The Company is of the view that the DTL provided is suffi cient

and hence not provided during the current year.

16. Employee Benefi ts:

Leave Encashment

Actuarial valuation as at 31.3.2011 has not been got done to ascertain the accumulated

future liability towards leave encashment to employees. However, based on the average outgo

on leave encashment for the last three years, provision is made in the year, which is not in

conformity with AS 15.

Pension and Gratuity

As per Accounting Policy relating to Employee Benefi ts, liability for pension and gratuity

contribution up to 31.5.2002 is met by the Government of Karnataka and liability arising from

1.6.2002, is met by the Corporation by contribution to the Trust, based on Actuarial valuation.

Incremental liability for the year has not been ascertained on the basis of actuarial

valuation conducted as at 31.3.2011 and provided for in the accounts, which is not in conformity

with AS 15.

Revision of Pay:-

The Board has approved for revision of pay of employees of KPTCL at 25% with

effect from 1-4-2010. An amount of Rs. 45.78 Crores has been provided in the Accounts for

2010-11, pending approval of the Government.

17. Segment Reporting

As the Corporation is engaged only in the business of power transmission within the

state of Karnataka, there are no reportable segments as per AS-17 on “Segment Reporting”.


18. Related party Disclosures

Related Party Transactions:

Key Managerial Personnel – As per Notifi cation issued by GoK.

Sl.No. Name Designation

1 Smt. G. Latha Krishna Rao Managing Director

2 Dr. Aditi Raja Director (Finance)

3 Sri. S. Pratap Kumar Director (Technical)

4 Sri. Shivayogi C. Kalasad (Upto 3-11-2010) Director (Admn & H R)

5 Sri. V. Yashwanth (From 22-11-2010) Director (Admn & H R)

Managerial remuneration paid or payable to Key Managerial Personnel:

(Amount in Rs.)

Sl.No. Particulars Current Year Previous Year

i. Salary and Allowance 40,65,186 35,13,123

ii Exgratia 14,000 11,215

iii Medical Expenses 3,66,089 14,655

TOTAL 44,45,275 35,38,993

19. Exgratia

Exgratia paid to employees in lieu of Bonus for the years 2000-01 to 2009-10 is subject

to post facto approval/ratifi cation of the Government of Karnataka.

20. Penalty Recovered:

Recoveries from Suppliers / Contractors, including amounts recovered by way of

encashment of Bank Guarantees, for delay in supply / execution of work is retained in “Penalty

Recovered pending decision for Refund” under Current Liabilities. Upon resolution of the

dispute, the amount in excess of the Refund made to the Suppliers / Contractors, if any, is

suitably adjusted.

21.Others

The Company has not received intimation from “Suppliers” regarding their status under

Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any,

relating amount unpaid as at the year end together with interest paid / payable as required

under the said Act, has not been given.

Signatories to Schedule 1 to 31. Sd/-

(K.R.JAYAPRAKASH)


Sd/- Sd/- Sd/-




For Rao & Swami


Sd/-

(N.Ramesh)

Place: Bangalore Partner

Date : 5-9-2011 Membership No.16153


Cash Flow Statement Annexed to the Balance Sheet for the period April 2010 - March 2011

Particulars Amount in Rs Amount in Rs

A CASH FLOW FROM OPERATING ACTIVITIES:

Net Profi t before tax as per Profi t & Loss Account 1 63 48 490

Adjustments for :

Depreciation (net) 406 98 89 291

Finance and Other Charges 537 32 96 889

Interest on Investment -3 23 14 484

Other Income -230 49 09 790

Income Tax - 76 55 921

Contributions, grants & subsidies towards cost of capital assets 75 26 96 839

Prior period and Extraordinary items 17 23 03 260

Operating Profi t before working capital changes 803 96 54 575

Adjustments for :

Changes in Stores & spares -4 94 71 690

Assets not in use 1 73 11 292

Changes in Sundry Debtors 19 10 87 732

Changes in Loans & Advances -102 39 14 785

Changes in Other Receivables -126 73 58 305

Changes in Current liabilities & provisions 122 44 36 896

Operating Profi t after working capital changes 713 17 45 714

Prior period and Extraordinary items -17 23 03 260

Deferred Expenditure -1 84 77 566

Misc Expenditure

Net cash infl ow from Operating Activities 694 09 64 888

B CASH FLOW FROM INVESTMENT ACTIVITIES

Changes in Fixed Assets (Net of Assets sales and losses) -1233 80 69 494

Changes in Capital Work in Progress 330 93 50 115 Interest on Investment 3 23 14 484

Net cash infl ow from Investment Activities -899 64 04 896

C CASH FLOW FROM FINANCING ACTIVITIES:

Changes in Share Capital/ Share Deposits 400 00 00 000

Changes in Secured Loans -211 89 89 449

Changes in Unsecured Loans 519 80 23 898 Changes in Capital Reserves

Changes in Material cost variance Reserves 6 74 593

Changes in Deposit Contribution works 33 68 19 678

Changes in Deferred Tax Liability

Other Income 230 49 09 790

Finance and other Charges -537 32 96 889

Net Cash used in fi nancing activities 434 81 41 621

Net Change in Cash and Cash equivalents (A+B+C) 229 27 01 613

Add:Opening Cash and Cash Equivalents as on 1.4.2010 163 77 23 372

Closing Cash and Cash Equivalents as on 31.3.2011 393 04 24 985

Subject to our comment in our report of even date

For Rao & Swamy

Chartered AccountantsSd/-

(K.R.JAYAPRAKASH)


Sd/- Sd/- Sd/- Sd/-

(N.Ramesh) (R.SRIDHARA) (ADITI RAJA) (P.RAVIKUMAR)

Partner Company Secretary Director (Finance) Managing Director

Membership No.16153

Place: Bangalore

Date : 5th September 2011


STATEMENT SHOWING SECTOR WISE CAPITAL EXPENDITURE FOR 2010-11

WITH AND WITHOUT RELEASED ASSETS ISSUED TO CAPITAL WORKS

CWIP (Amount in Rupees)

Account

Code

Brief Description of the

Project

Capital

Expenditure

Allocation

(Sectorwise)

(in crores

Capital

Expenditure

during the year

2010-11

Released

Assets issued

to works

during

2010-11

Net Capital

Expenditure for

the year 2010-

11 (deducting

Released

Assets issued to

Works)

TRANSMISSION LINES AND SUB STATIONS WITH ATTACHED CIVIL WORKS

14.110 Transmission lines (GP) 175 26 92 982 43 44 734 174 83 48 248

14.113 Transmission lines(PFC) 294 84 28 359 15 669 294 84 12 690

14.116 Transmission lines (Non-Plan) 39 76 304 39 76 304

14.120 Step Down Station (GP) 215 50 46 371 8 65 48 680 206 84 97 691

14.123 Step Down Station(PFC) 77 91 94 230 20 59 464 77 71 34 767

14.124 Step Down Station (ADB) 55 02 955 55 02 955

14.126Step Down Station

(Non-Plan) 14 62 51 919 98 90 121 13 63 61 798

Sub Total 1088.28 779 10 93 120 10 28 58 668 768 82 34 452

CAPACITOR INSTALLATIONS

14.165 Installation of Capacitors (GP) 8 41 474 8 41 474

Sub Total 1.63 8 41 474 8 41 474

LOAD DESPATCH AND

COMMUNICATION

14.130Load Despatch &

Communication32 45 71 906 32 45 71 906

Sub Total 94.00 32 45 71 906 32 45 71 906

EXTENSION AND

IMPROVEMENTS

14.150

Transmission lines+

Transformers etc-

Improvements (GP)

45 63 79 795 3 44 47 260 42 19 32 535

14.151

Transmission lines+

Transformers etc-

Improvements (Non Plan)

5 097 5 097

Sub Total 68.87 45 63 84 892 3 44 47 260 42 19 37 632


CWIP (Amount in Rupees)

Account

Code

Brief Description of the

Project

Capital

Expenditure

Allocation

(Sectorwise)

(in crores

Capital

Expenditure

during the year

2010-11

Released

Assets issued

to works

during

2010-11

Net Capital

Expenditure for

the year 2010-

11 (deducting

Released

Assets issued to

Works)

PROVIDING NEW TRANSFORMERS IN PLACE OF FAULTY/FAILED DISTRIBUTION

TRANSFORMER

14.170

Replacement of Distribution

transformer with similar

capacities

3 15 00 373 2 76 78 788 38 21 585

Sub Total 4.21 3 15 00 373 2 76 78 788 38 21 585

RURAL ELECTRIFICATION

14.200

REC Plan Schemes-IP:IE

Scheme of Driniking Water

Supply

243 84 95 271 243 84 95 271

14.240 System Improvement-REC 5 10 086 5 10 086

Sub Total 337.48 243 90 05 357 243 90 05 357

OTHERS

14.502 Buildings 21 88 73 545 21 88 73 545

14.708 Furniture & Fixtures 10 55 437 10 55 437

14.809 Offi ce Equipement 3 13 97 381 12 708 3 13 84 673

14.810 Tools & Tackles 3 01 86 502 1 52 329 3 00 34 173

14.811 Mobile Phones/Cellular Phones 8 06 054 5 990 8 00 064

14.910Survey and Investigation

expenses on projects19 04 817 19 04 817

Sub Total 97.92 28 42 23 735 1 71 027 28 40 52 708

TOTAL-A 1692.39 1132 76 20 858 16 51 55 743 1116 24 65 115

Less: Amount initially

accounted by one accounting

unit as Capital Expenditure

and on transferred to another

accouting unit same accounted

as Capital Expenditure

21 55 38 841 21 55 38 841

TOTAL-B 21 55 38 841 21 55 38 841

NET CAPITAL EXPENDITURE 1111 20 82 017 16 51 55 743 1094 69 26 275

STATEMENT SHOWING SECTOR WISE CAPITAL EXPENDITURE FOR 2010-11

WITH AND WITHOUT RELEASED ASSETS ISSUED TO CAPITAL WORKS


STATEMENT SHOWING THE DETAILS OF BORROWING

FOR THE FINANCIAL YEAR 2010-11

A/c

CodeName of the Institution

OB as on

01/04/2010Receipts Repayments

CB as on

31/03/2011

1 2 3 4 5 6

53.300 REC 302227170 135882623 166344547

53.324 Short term Loans 11000000000 5780000000 5220000000

53.325 UCO Bank 5030000000 5030000000

53.330 Vijaya Bank 3543903694 6780590309 70321000 10254173003

53.336 APDRP-REC 76801113 10971588 65829525

53.900 HDFC 5105850 2941909 2163941

53.960 PFC 19338329020 6642300894 12696028126

53.302 REC-Rationalised loans 13001132 5063793 7937339

53.345 South Indian Bank 875000000 875000000

53.346 Punjab National Bank 2587500000 345000000 2242500000

53.347 Oriental Bank of Commerce 775000000 100000000 675000000

53.353 Corporation Bank 1325000000 2000000000 1100000000 2225000000

53.354 Bank of Maharastra 1650000000 200000000 1450000000

53.355 Bank of India 1555200000 3000000000 444800000 4110400000

53.356 Bank of Baroda 1833333334 333333332 1500000002

53.357 Indian Bank 1000000000 2000000000 3000000000

53.358 Bank of Rajasthan 1000000000 1000000000

53.359 Punjab & Sind Bank 350000000 350000000

53.360 Canara Bank 5000000000 5000000000

54.200 State Government Loans 77229383 5940722 71288661

TOTAL 51987630696 19130590309 16051555861 55066665144


DCB STATEMENT FOR THE YEAR 2010-11

(Energy Supplied in MUs & Amount in Rupees)

ESCOM

Energy

Supplied

(in MUs)

Opening

Balance

Transmission

Charges

(Current year

Demand)

GrandTotal

(OB+Current

Year)

Collection & Closing

Balance

BESCOM 21899.04 430174384 5950982053 6381156437 6153612069 227544368

MESCOM 3591.63 290758856 968564941 1259323797 1091273987 168049810

HESCOM 8527.27 741963561 2369002653 3110966214 2037466610 1073499604

GESCOM 6099.98 275696714 1368318528 1644015242 1394952795 249062447

CESCO 4702.96 694223605 1137074166 1831297771 1205280646 626017125

HUKKERI 190.94 144225146 52708846 196933992 196706638 227354

INTER STATE 1757702 18628688 20386390 17303923 3082467

DELAYED

PAYMENT

CHARGES

214911825 26295130 241206955 214911825 26295130

OTHERS

(Including

open Access

Customers)

WITHDRAWAL -9235580 -9235580 -9235580

Grand Total 45011.82 2784476213 11891575005 14676051218 12311508493 2364542725


KARNATAKA POWER TRANSMISSION CORPORATION LIMITED, BANGALORE

CORRIGENDUMTO

AUDITORS’ REPORT DATED 05.09.2011

Reference Appearing as Read as

1. Audit Report

- Para 4 (v)

- 6th line Rs.15,011.79 lakh Rs. 15,005.49 lakh

2. Annexure I

- Para 1.3 (a)

- Third line - Schedule 12 - Schedule 13

- Para 1.4

- First line i) Rs.269.25 lakh i) Rs.262.95 lakh

- 16th line Rs.10,593.99 lakh Rs.10,587.69 lakh

- 17th line Rs.269.25 lakh Rs.262.95 lakh

- Para 1.7

- Third line Para 1.32 in Para 1.32

- Para 3.1

- Fouth line among others amongst others

- Para 3.3

- Third line damages recovered damages of

Rs.7,619.91 lakh recovered

- Para 3.4

- First line Es.469.59 lakh Rs.469.59 lakh

- Para 3.8

- Second line Rs.41.32 lakh Rs.41.37 lakh

- Para 4

- Third line Rs.15,175.27 lakh Rs.15,168.97 lakh

- 6th line Rs.269.25 lakh Rs.262.95 lakh

3. Annexure II

- Para 2 (b)

- 4th line business (c) business

- 5th line According to (c) According to

For Rao & Swami


Sd/-

(N.Ramesh)

Place: Bangalore Partner

Date : 29-9-2011 Membership No.16153

Govt. Press. Vikasa Soudha Unit, Bangalore. W.D. 86 /P5

7. fy 2010-11

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