ANNUAL REPORT 2009 -10 - Idcoenglish.idco.in/2017/Portals/0/PDF/IDCO AR 2009-10.pdf ·...

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ANNUAL REPORT 2 0 02 0 02 0 02 0 02 0 0 9 9 9 9 9 ----- 1010101010

BOARD OF DIRECTORS OF IDCO

0. Chairman-Cum-Managing Director, IDCO ............................................................ Chairman

1. Principal-Secretary to Govt, ................................................................................ Director

Industries Department, Bhubaneswar

2. Secretary to Government .................................................................................... Director

Revenue and Disaster Management Department, Bhubaneswar

3. Director, Institutional Finance & Ex-officio

Addl. Secretary to Government, .......................................................................... Director

Finance Department, Bhubaneswar

4. Chairman-Cum-Managing Director ...................................................................... Director

IDC Ltd., Bhubaneswar

5. Managing Director, .............................................................................................. Director

OPTCL, Bhubaneswar

6. Chairman-Cum-Managing Director ...................................................................... Director

IPICOL, Bhubaneswar

7. Managing Director, .............................................................................................. Director

OSFC, Cuttack

8. Director of Industries, Orissa, Cuttack ................................................................ Director

9. Managing Director, Orissa Small Industries ........................................................ Director

Corporation Ltd., Cuttack

10. Chief Engineer, PH (Urban), Orissa, Bhubaneswar ............................................. Director

11. Chairman, CII, Orissa Branch, Bhubaneswar. ..................................................... Director

12. President, Utkal Chamber of Commerce & Industry, ........................................... Director

Cuttack

13. President, OYEA Cuttack ................................................................................... Director

14. President, OSSIA, Cuttack ................................................................................. Director

AUDITORS GRC & Associates

Chartered Accountants

BANKERS State Bank of India

United Bank of India

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ACTIVITIES REPORT FOR THE YEAR 2009 - 10

INTRODUCTION

Orissa Industrial Infrastructure Development Corporation (IDCO) has been established in the year 1981 with the

specific objective of creating infrastructure facilities in the identified Industrial Estate/Areas for rapid and orderly

establishment and growth of industries, trade and commerce. Consistent with this objective, IDCO has established/

managed 86 Industrial Estates / Areas all over the State. Besides, acquisition and allotment of land to the

industries in medium and large sector, assisting them in infrastructure development has been another prime

function of this corporation. In addition to the above works, it takes up various construction activities entrusted by

State and Central Government Departments and their corporations on agency or contract basis. It provides

escort services to investors/developers for implementation of mega projects in the State in the infrastructure

sector.

This ISO 9001 & ISO 14001 certified Corporation has achieved the unique distinction of being the only State level

organization to be conferred the 'Golden Peacock' award by the Institute of Directors, New Delhi for adopting and

maintaining quality management standards in all its operations

ACTIVITIES

The Corporation is engaged in industrial infrastructure development work for rapid industrialization in the State.

The achievements of IDCO in different areas are noted below:

Industrial Estates and Industrial Areas

IDCO has already developed 86 Industrial Estates/ Areas in different strategic locations. The cumulative position

of construction/development and allotment of sheds/land in different Industrial Estates up to the year 2009-10 is

as under:

No. of IEs/IAs : 86 Nos.

Gross area of IEs/ IAs : 8245.872 Acres

Built up sheds : 1542

Sheds allotted, occupied and utilized otherwise : 1491

Sheds available for allotment : Nil

Land allotted : 4410.169 Acres

Net saleable developed land available for allotment : 1647.637 Acres

Over 3,653 Industries, mostly in SSI sector have been allotted with plots/ sheds in these Estates.

During this year 165 units have been allotted with land & shed in IEs. The cost realized towards sale of plots is

Rs. 2533.96 lakh and Rs. 94.23 lakh received towards sale of shed/shops.

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PROJECTS UNDER CENTRALLY SPONSORED PLAN SCHEME

IDCO has also been entrusted with the responsibility of implementing various centrally sponsored infrastructure

projects under Industrial Growth Centre, Integrated Infrastructural Development (IID) Centre, Urban Haat, Projects

under ASIDE schemes for promotion of small, medium and export oriented industries in the State.

The following projects are under execution:

Growth Centre - Kalinganagar, Jharsuguda & Kesinga.

IID Centre - Khurda & Somnathpur (Balasore)

Urban Haat - Konark & Puri

Food Processing Park, Khurda

At Jharsuguda Growth centre, Phase - III development works at site-I have been planned over Ac. 150 of land with

an estimated cost of Rs. 410 lakh. Acquisition of Ac. 135.44 is at advanced stage of completion at Jharsuguda.

For road development work at Bolangir Growth Centre site, tender is under finalization.

Development works of IID Centres at Khurda and Somnathpur have made substantial progress. Allotment of land

at the two centres is in progress. Besides, development works in the Food Processing Park, Khurda along with

allotment of land are in progress (Allotment of land is in progress.)

Urban Haat at Puri has been completed with an expenditure of Rs. 303.62 lakh and inaugurated by Her Excellency,

the President of India on 09.12.2009. This project aims at providing direct marketing access to the artisans,

weavers, craftsmen etc. by eliminating middlemen. The Haat has been designed keeping in mind, the ethnic

cultural heritage of the state.

INFRASTRUCTURE PROJECTS UNDER PPP MODE

Development of Special Economic Zones :

Establishment of 11 SEZs has been approved by Govt. of India for our state out of which 4 projects have

been notified. Infocity SEZ of IDCO at Chandaka (Bhubaneswar) is in operation. A Sector Specific SEZ for

IT/ITES/BPO industries near Bhubaneswar (Info Valley) of IDCO is being developed over 320 acres of land

alongwith an Integrated Township over 180 acres of land. Construction of boundary wall, approach road to

this project is in progress. M/s. IL&FS has been engaged for preparation of project proposal and Master

Plan for the same. Infosys is being actively considered as the anchor tenant for this SEZ.

IT & Commercial Complex, Rourkela :

Objective is to provide quality built-up space for IT/ITES, Corporate offices, social infrastructure such as

retail & shopping, entertainment & leisure etc. About 3.0 lakh sft of built-up space over 3.12 acres of land

in Civil Township at Rourkela has been planned. M/s Forum Projects Pvt. Ltd has emerged as Preferred

Bidder after open competitive bidding process. Govt. approval has already been obtained. LOI has already

been issued to the preferred bidder. The Lease-cum-Development Agreement has been signed on 06.11.2009.

Bio-Pharma IT Park :

To develop Orissa as a hub of research, development and innovation in the fields of Bio - IT and Bio Pharma

related areas, a dedicated Park has been planned for development. Ac. 63.229 acres land at Andharua

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near Bhubaneswar is under transfer to IDCO. M/s. Bharat Biotech International Limited has been selected

as preferred bidder after open competitive bidding process. An SPV namely M/s Konark Knowledge Park

has been formed for implementation of the project.

Petroleum, Chemical and Petrochemical Investment Region (PCPIR) :

An SPV namely M/s Paradeep Investment Region Development Limited has been formed for development

petroleum & petrochemical industries at Paradeep region. Indian Oil Corporation Ltd. and Paradeep Port

Trust have agreed to join the SPV. The former will be the anchor industry. M/s IL&FS, the consultant have

submitted the PCPIR Project Report to Govt. of India which is under active consideration for approval.

Dhamara Industrial Township

The Board of Directors of IDCO in its meeting held on 20.09.2008 decided for development of a township at

Dhamra to provide support to ancillary and downstream industries likely to come-up near the port. Over

10,000 acres land has been identified and detailed survey is in progress. Preparation of techno-feasibility

study is under progress by IL&FS.

World Trade Centre

A World Trade Center (WTC) at Bhubaneswar to promote global networking and give international visibility

to the industrial potential of the State has been planned. Industries Department has been requested to

facilitate identification and transfer of suitable Government land in and around Bhubaneswar for establishment

of the World Trade Center. Rs. 12 crore ASIDE funds have been allocated for development of the project.

Industrial Infrastructure Up-gradation Scheme (IIUS)

Under the scheme, the proposal for development of Plastic, Polymer & Allied Cluster at Balasore has got

the approval of Govt. of India during November,09. The SPV namely NOCCI Balsore Infrastructure Company

Ltd. has been formed. Govt. of India have released the 1st. Installment of Rs. 17.48 crore for infrastructure

development works.

Inland Container Depot (ICD)

Industries Department has identified 6 locations i.e. Rourkela, Jharsuguda, Kalinganagar, Anugul, Bhadrak

and Rayagada. Since CONCOR is interested to set-up ICDs at Jahrsuguda & Kalinaganagar, it is decided

to develop ICDs in balance 4 locations through private sector Developers. IDCO has identified 30-40 acres

of suitable Government land in these locations. IL&FS Team has evaluated the suitability of sites and the

identified land is under the process of acquisition/ transfer.

LAND ACQUISITION

IDCO is the 'NODAL AGENCY' for identifying and acquiring land both from Government and private parties

at strategic locations. The land so acquired is allotted for industrial as well as infrastructure projects.

During 2009 - 10, Ac. 4736.39 of land has been allotted to 28 industrial units. Some of the major industrial

units allotted land during the year is as follows:

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CONSTRUCTION WORK

14 nos of new works have been awarded to IDCO during 2009 - 10 for an estimated cost of Rs. 5856 lakh.

Some of the major works awarded are as follows :

SL No Name of the Project Location Area allotted in Ac.

1 2 3 4

1 M/s. Jindal Steel & Power Ltd Kerajang & Chhendipada, Angul 1165.41

2 M/s. Monnet Ispat & Energy Ltd Chhendipada,Angul 131.82

3 M/s. Utkal Coal Ltd. Chhendipada,Angul 816.86

4 M/s TATA Power Company Limited Naraj, Marthapur,Cuttack 780.084

5 M/s Lanco Solar Private Limited Ramdaspur, Cuttack 104.66

6 M/s. GMR Kamalanga Energy Kamalanga, Dhenkanal 864.915

Limited

7 M/s. Vedanta Aluminium Limited, Bhurkamunda,Jharsuguda 111.05

Smelter , Jharsuguda

8 M/s. Hindalco Industries Hirakud,Sambalpur 210.74

Limited (Aditya)

9 M/s. Bhushan Power & Steel Jamukani village in Sundergarh 409.11

Limited

Sl. No. Name of the Work Value of work

(Rs. in lakh)

1. Const. of new Govt. Polytechnic at Balasore : 790.43

2. Const. of new Govt. Polytechnic at Ragadi(Jajpur) : 816.06

3. Const. of new Govt. Polytechnic at Bolangir : 795.60

4. Const. of new Govt. Polytechnic at Paralakhemundi(Gajapati) : 812.44

5. Const. of Convention centre for Revenshaw university,Cuttack : 395.40

6. Renovation of Kanika Library : 100.00

7. Const. of Laboratory Building of State Pollution control Board : 850.00

8. Construction of ST Hostel Building in the campus of : 130.22

Indira Gandhi Girls Hostel,unit - IX,Bhubaneswar

9. Construction of ST Hostel Building in the campus of : 279.43

B.J.B. college, Bhubaneswar

10. Odiya Bhasa Pratisthan,Bhubaneswar : 100.00

11. Construct ion of Orissa Bigyan Academy : 300.00

12. Furnishing works of NIFT : 300.00

13. Const. of Design Cell Building of SIDAC : 131.93

14. Const. of Auditorium Building of OFDC : 54.90

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TURNOVER & PROFITABILITY :

During the year under report, the Corporation achieved turnover of Rs.62,525.66 lakh and earned net surplus of

Rs.6334.60 lakh after providing depreciation. The cumulative surplus of the Corporation stood at Rs.34,221.35

lakh at the close of the financial year under report. The details of the turnover of the Corporation for the year 2009-

10 are as follow :

Sl. No Particulars 2009-10(Rs.in lakh)

A. Contract Receipts 24.95

B. Deposit Works 10966.08

C. Land Acquisitions 47152.40

D. Own Works 3689.47

E. Repair & Maintenance Works 692.76

Total 62525.66

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ANNEXURE – 1

REFERRED TO IN PARAGRAPH 1 AND FORMING PART OFAUDITOR'S REPORT OF EVEN DATE

1. APPLICABILITY OF ACCOUNTING STANDARDS

The Corporation has not adopted the applicable Accounting Standards issued by ICAI.

As per the ICAI , Accounting Standards are applicable to all corners preparing financial statements irrespective

of whether specific provisions exist in the statues under which they operate to show True & Fair view of the

State of Affairs.

In our Opinion , relevant Accounting Standards are required to he followed for showing True & Fair view of the

state of Affairs of the Corporation.

2. ACCOUNTING POLICY

Section 27(1) of the OlIDC Act.1980 read with from D under Rules 25 (1) of the OlIDC Rules, 1981, makes it

incumbent upon the corporation to disclose specific information in the financial statements

The corporation has changed the accounting system from accrual to cash w.e. f 01.04.1996 (after amendment

of section 145 of the income tax act 1961 allowing an assessed to follow either cash or accrual system of

accounting) and the same are being following consistently without complying with from (D) disclosure

requirements as referred to above.

3. FIXED ASSETS

a. The Corporation has not maintained proper records showing the full particulars including quantitative details

and situation of Fixed Assets.

b. Fixed Assets have not been physically verified by the corporation during the year under audit. The corporation

has not any program for verification of Fixed Assets

c. The corporation has not taken steps for complying the Accounting Standard - 28 with regard to impairement

of fixed assets.

4. INFRASTRUCTURE EXPENDITURE

a. Capital Expenditure has been overstated to the tune of Rs.1504.64 crore on account of land for projects

(private land for industries) acquisitioned even if the same has been already handed over to industries.

b. Idle Investment of Rs.52.08 crore on account construction work in progress out of own fund which is pending

since long & the present status which has not been ascertained.

5. CAPITAL EXPENDITURE

Fixed Assets is understated & depreciation short charged due to non capitalization of fixed assets which

have been completed out of construction work in progress out of own fund amounting to Rs.24.0S crore & out

of subsidy fund amounting to Rs.143.03 crore .

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6. ANALYSIS OF CURRENT ASSETS

Age wise analysis of curren assets like receivables towards Insurance Claim, Misc. Deduction, Advance to

suppliers & contractors, loan to others, mise advance, mise deposit,' security deposit & EMD has not been

carried out and impact of which arising out of such analysis has not been ascertained.

7. RECONCILATION OF GL WITH SUBSIDIARY LEDGERS

The both the assets & liabilities are overstated to the extent of unreconciled balances lying due to unreconcilation

of General Ledger & Subsidiary Ledgers.

8. RECEIVABLES

Income Tax refundable amounting to Rs.5.56 crores is overstated due to non adjustment of dues on account

of Income tax assessment orders of earlier years.

9. REVENUE RECOGNISATION

Income of the corporation is overstated & current liabilities is understated to the extent of recognisation of

revenue on account of administrative charges received for land acquisition against which the land has not

been delivered to the clients the amount of which has not been ascertained.

10. LACK OF ADEQUATE DISCLOSURE AS PER THE IDEO RULES.1981

It is noticed that while preparing the Annual Report, Rules No 26(2) of the IDCO Rules, 1981 is not complied

fully so as to make the disclosure more qualitative.

11. INTERNAL CONTROL SYSTEM & INTERNAL AUDIT

In our Opinion & according to the information & explanation given to us. Internal control procedure in respect

of computer related records generated from the computer system is not adequate to ensure effective &

efficient generation of data with integrity for use by the Organisation. System Audit is necessary to check

input and output Controls, Data integrity, System effectiveness, System efficient and Asset Safeguarding.

Internal audit system is also not commensurate with size & nature of business of corporation. Scope of the

internal audit must be enhanced to cover all the transactions of the corporation.

12. CONTINGENT LIABILITIES

Corporation has not estimated contingent liabilities for disclosure of as a note to Balance Sheet even if there

are many legal cases pending for disposal at different stages.

FOR GRC & AssociatesCHARTERED ACCOUNTANTS

Bhubaneswar

Date : 08.10.2010

Sd/-(A. MOHAPATRA)

PARTNER

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COMPLIANCE TO AUDITOR’S REPORT ON IDCO ACCOUNTS FOR THE FINANCIALYEAR 2009-10

1. APPLICABILITY OF ACCOUNTING STANDARDS

IDCO is a statutory corporation constituted by virtue of OIIDC Act,1980 and is not a company formed underCompanies Act, 1956. Being a statutory corporation the prescribed accounting standards are possibly notmandatory for IDCO under any statute. However all relevant accounting information provided to the StatutoryAuditor depict the true and fair view of the State of Affairs of the Corporation.

2. ACCOUNTING POLICY

IDCO’s Balance Sheet format including Receipt and Payment Account format prescribed u/s 27(1) of OIIDCAct 1980 read with form D under Rule 25 (3) of OIIDC Rules,1981 shows accrual system of accounting.Under this rule, since inception IDCO followed Accrual System of Accounting up to 1996. In the year 1996,IDCO adopted cash system of accounting which was a requisite to get tax exemption under 12 AA of IT Act.Under this Act IDCO was registered as a Charitable Trust. We got tax exemption up to 2007-08. Subsequentlysaid section under which we were enjoying tax exemption was abolished in the year 2008-09. Till now weare following the cash system of accounting which is accepted by IT Authority. We have not taken steps tochange over again to accrual system.

3. FIXED ASSETS

Fixed Assets Registers are maintained in all Divisions and different wings of Head Office such as MIS wingis maintaining Fixed Assets Registers for computer hard wares , H.K. section is maintaining F/A register foroffice equipments and Maintenance wing is maintaining F.A. register for vehicles and other assets. Howeveras desired by our Statutory Auditor, we will maintain corporate F/A register from 2010-11. Moreover stepswill be taken to conduct regular verification of Fixed Assets. Regarding compliance of Accounting standard-28, this may be mentioned that as per the existing policy of the corporation whenever the situation arises forsale of old and obsolete assets, a committee is formed to decide the matter. Further the valuers are alsoappointed to determine the present value of assets proposed for sale and provide the necessary information/figures to the committee for taking the decision.

4. INFRASTRUCTURE EXPENDITURE

a) In case of land acquisition of Private land, primarily the land is leased in favour of IDCO and then it is sub-leased to private parties. So we are showing this in our accounts ( both receipts and expenditure).

b) IDCO has temporarily stopped expenditure on Aluminium park, Khurda. There was no expenditure oncompound walls over IDCO land, STP-Balasore , Rehabilitation Colony-Mantira and IT & Corporate Towerwith ICE Mall during 2009-10.Except Aluminium Park, Khurda all works are on going works. So cumulativeexpenditure on these works can not be treated as idle investment.

5. CAPITAL EXPENDITURE

As per Form ‘D’ prescribed in the rules, we have to show both capital expenditure and infrastructure receiptsagainst sale of plot and shed in Indl. Estates in our Balance sheet. In the same line, we are treatingexpenditure on Growth Centre, Integrated Infrastructure Development Centres (IIDs) and Food Park etc.There is no rule to treat them as fixed assets in our system. Those works are still continuing and not yetfully completed.

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6. The corporation was initially using the visual fox pro accounting package and subsequently oracle packagewas adopted from the F.Y 2003-04.The problem has emerged due to difficulties in merger of data of both thesoftware packages. Now the merger work has been assigned to a software firm. Once the same is sortedout year wise analysis report can be derived from the system.

7. Reconciliation of G/L with S/L can be possible only after the sub ledger merger work is over.

8. The Income –Tax assessment of the corporation is complete up to the assessment year 2007-08. Theassessment for the assessment years 2008-09, 2009-10 and 2010-11 are presently going on and after theassessments are complete, the corporation shall get refund for the said assessment years. So the incometax refundable amount as pointed out by the Statutory Auditor will be adjusted gradually after completion ofAssessments.

9. As we have adopted cash system of accounting, the administrative charges on land acquisition is treatedas revenue income in the year in which it is being received even if the L.A. process is continued in subsequentyears. In this connection we have sought information from land section in respect of parties for whom L.A.process is not completed, so that we will treat their deposit funds towards administrative charges asadvance. This act will minimize our tax burden and comply auditor’s remarks.

10. We are printing Director’s Report/Activities Report in each & every year in our Annual Report. However,during the period of audit, it was not possible to furnish the same.

11. At present there is no provision of system audit in IDCO. However we operate under Oracle based RemoteDesk Top package which is an on line package. At the end of every year overall data accuracy of differentdivisions is checked. Chartered Accountant firms are appointed to check computerized records of eachdivision. In case of any defect found, matters are being sorted out by our system supporter. However formore effective control our own internal audit wing is to be strengthened.

12. Statutory Auditor wanted to know the financial implication of different judicial cases in case IDCO loses thesuits. In this connection our Law wing opined that at present there is no such case pending in the HighCourt which has a direct financial involvement.

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M/s GRC & Associates,Chartered Accountants,Plot No.722, 1st floor, Saheednagar,Bhubaneswar-7

AUDITOR’S REPORT

We have audited the attached Balance Sheet of ORISSA INDUSTRIAL INFRASTRUCTURE DEVELOPMENTCORPORATION, as at 31st March, 2010 and the Income and Expenditure account of the corporation for the yearended on that date annexed thereto. These financial statements are the responsibility of the corporation’smanagement. Our responsibility is to express an opinion on these financial statement based on our audit.

We have conducted our audit in accordance with the auditing standards generally accepted in India. Thosestandards required that we plan and perform the audit to obtain a reasonable assurance about whether the financialstatements are free of material misstatement. An audit includes examining, on a test basis, evidence supportingthe amounts and disclosure in the financial statement. An audit also includes assessing the accounts principlesused and significant estimates made by the management, as well as evaluating the over all financial statementpresentation. We believe that our audit provides a reasonable basis for our opinion.

Arising out of such audit, we enclose in Annexure-1, Our various observations which can have significant impact incase of figures disclosed related to overall state of Affairs of the Balance sheet as at 31.03.2010 and those relatedto income, expenditure as well as surplus of Income and Expenditure Account for the year ended on that date, theeffect whereof are not ascertainable as of date.

Further to our comments under Annexure-1 referred under above para-1, we report that:

a. We have obtained all the information and explanations, which is to the best of our knowledge and beliefwere necessary for the purpose of our audit:

b. In our opinion, proper books of accounts as required have been kept by the Corporation, so far as appearsfrom our examination of those books;

c. The Balance Sheet and the Income and Expenditure account dealt with by this report are in agreement withthe books of account.

d. Subject to our observations under aforesaid para-1, in our opinion and to the best of our information andaccording to the explanations given to us the said accounts read together with other notes thereon appearingin Schedule 23 give the information required by the Orissa industrial infrastructure development corporationAct, 1980 in the manner so required by the said act and give a true and fair view in conformity with theaccounting principles generally accepted in India.

I. In Case of the Balance Sheet, the State of Affairs of the Corporation as at 31st March, 2010; and

II. In case of the income and Expenditure Account, of the Surplus of the Corporation for the year ended onthat date.

Place : Bhubaneswar For G R C & Associates Date : 08.10.2010 Chartered Accountants.

Sd/-(CA A. Mohapatra)

(Partner)

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Sd/-

Bhubaneswar, (Sri S.P.Tripathy)

the 8th Oct.2010 Chief General Manager (Finance)

B A L A N C E S H E E T

PREVIOUS YEAR LIABILITIES SCH CURRENT YEAR

Rs. Rs.

RESERVE & SURPLUS

1,072,769,000.00 Infrastructure Development Fund 1,072,769,000.00

- Add: transferred During CurrentYear - 1,072,769,000.00

INCOME & EXPENDITURE A/C

1,110,169,326.21 Net Surplus as per last Balance Sheet 1,765,532,719.71

Less: Last year Income Tax paid in Current Year 49,626,606.00

655,363,393.50 Add: Net Surplus During Current Year 633,460,175.32

1,765,532,719.71 2,349,366,289.03

2,838,301,719.71 3,422,135,289.03

RECEIPT ON CAPITAL ACCOUNTS

17,863,847,625.00 Infrastructure Receipts 12 21,698,836,648.65

LOANS

5,000,000.00 Other Loans 13 5,000,000.00 5,000,000.00

5,000,000.00

DEPOSITS

35,250,000.00 Grant/Subsidies received(Revenue) 14 15,250,000.00

1,184,837,600.00 Grant/Subsidies received(Capital) 15 1,094,621,580.00

1,220,087,600.00 1,109,871,580.00

CURRENT LIABILITIES & PROVISIONS

On account of

1,388,650,971.51 Deposits from clients 16 1,818,637,146.85

- -

43,326,625.61 Establishment & Others 45,203,668.61

152,350,334.92 Retention Money 178,299,455.92

1,584,327,932.04 2,042,140,271.38

23,511,564,876.75 TOTAL 28,277,983,789.06

Accounting policies and Notes on Accounts 23

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AS AT MARCH 31ST, 2010

Schedules 1 to 23 form an integral part of the Accounts As per our report of even date For GRC & Associates

Chartered Accountants Sd/- Sd/- (Sri Priyabrata Patanaik ) (CA A.Mohapatra)Chairman-cum-Managing Director Partner

PREVIOUS YEAR ASSETS SCH CURRENT YEAR

Rs. Rs.

FIXED ASSETS

1,088,498,874.56 At cost 1 1,349,053,000.85

513,900,805.19 Less Depreciation to date 661,234,876.32

574,598,069.37 687,818,124.53

INFRASTRUCTURE EXPENDITURE

93,551,365.29 Buildings -

399,963,380.01 Development Of Industrial Areas 2 358,944,057.93

165,149,286.77 Construction Of Industrial Sheds 3 165,149,286.77

14,217,541,991.60 Capital exp.for land acquisition. 5 18,200,686,632.60

507,404,259.93 Construction Work in Progress 4 520,757,076.93

15,383,610,283.60 19,245,537,054.23

CAPITAL EXPENDITURE :

12,865,000.00 Lease Hold Land from Govt Of Orissa 16,345,559.00

2,334,823.50 Free Hold Land 2,334,823.50

121,756,686.00 Construction Work in Progress 240,458,698.00

(Out of own fund)

1,363,588,915.12 Construction Work in Progress 1,430,282,233.47

(From grants & subsidy)

1,500,545,424.62 1,689,421,313.97

2,001,600.00 INVESTMENTS 2,001,600.00

CURRENT ASSETS, LOANS AND ADVANCES:

CURRENT ASSETS:

1,331,664.39 Store Materials 1,197,852.39

21,024,666.38 Receivables 6 76,464,263.37

5,689,875,415.06 Cash & Bank Balances 7 5,951,858,280.31

5,712,231,745.83 6,029,520,396.07

LOANS AND ADVANCES

150,158,961.72 Advance to Suppliers & Contractors 8 127,106,659.72

18,917,133.28 Misc. Advances Recoverable In Cash or Kind 9 19,993,022.28

29,325,105.13 Advance To Staff Members 10 28,031,966.52

140,176,553.20 Sundry Advances including Other Deposit 11 448,553,651.74

338,577,753.33 623,685,300.26

23,511,564,876.75 TOTAL 28,277,983,789.06

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INCOME AND EXPENDITURE ACCOUNT

Sd/-

Bhubaneswar, (Sri S.P.Tripathy)

the 8th Oct.2010 Chief General Manager (Finance)

PREVIOUS YEAR EXEPENDITURE SCH CURRENT YEARRs. Rs.

180,704,024.50 Establishment Expenses 17 321,542,927.60

89,270,401.24 Administrative Expenses 18 83,898,990.15

269,974,425.74 405,441,917.75

81,082,339.88 Infrastructure Maintenance Expenses 19 93,631,155.90

6,976,278.84 Contract Work Expenses 16,358,237.00

65,523,369.00 Work Expenses 20 28,488,340.00

100,843.00 Audit Fees & Expenses 21,736.00

72,792,486.00 Depreciation 149,566,479.82

898,763,393.50 Gross surplus 959,642,743.32

1,395,213,135.96 TOTAL 1,653,150,609.79

243,400,000.00 Less: Income Tax prov. For Current Year 326,182,568.00

- (i)Transferred to 'Infrastructure Development Fund' -

655,363,393.50 (ii) Net Surplus transferred to Balance Sheet 633,460,175.32

898,763,393.50 TOTAL 959,642,743.32

Accounting policies and Notes on Accounts 23

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FOR THE YEAR ENDED ON MARCH 31ST, 2010.

Schedules 1 to 23 form an integral part of the AccountsAs per our report of even dateFor GRC & Associates

Chartered Accountants Sd/- Sd/-( Sri Priyabrata Patanaik ) (CA A.Mohapatra)Chairman-cum-Managing Director Partner

PREVIOUS YEAR INCOME SCH CURRENT YEARRs. Rs.

99,542,014.24 Income from works 21 109,586,341.00

711,519,198.72 Income from I/Es & Admn.Ch. 22 912,464,592.55

584,151,923.00 Other Income 631,099,676.24

1,395,213,135.96 TOTAL 1,653,150,609.79

898,763,393.50 Gross surplus 959,642,743.32

898,763,393.50 TOTAL 959,642,743.32

16

SCHEDULE-1: FIXED ASSETS SCHEDULE FORMING PART OF

INFRASTRUCTURE ASSETS

1 Industrial Roads 118,348,604.93 145,322,518.00 - 263,671,122.93

2 Water Works 118,335,284.00 - 118,335,284.00

3 Electrical Installations 49,018,849.00 11,609,258.00 - 60,628,107.00

4 Infra Buildings-Tower 2000 72,767,893.00 242,182.00 73,010,075.00

5 Infra Buildings-Infocity 146,108,944.92 32,388.00 146,141,332.92

6 Infra Buildings-Fortune Tower 314,444,593.22 93,657,805.29 408,102,398.51

TOTAL 819,024,169.07 250,864,151.29 - 1,069,888,320.36

GENERAL ASSETS

1 W/S system at Duburi,Jajpur 75,623,953.05 252,211.00 75,876,164.05

2 Administrative Building 60,407,841.00 8,274,098.00 68,681,939.00

3 Other Office Buildings 16,776,045.26 16,776,045.26

4 Residential Houses 24,180,734.72 642,639.00 24,823,373.72

5 Plant and Machineries 18,786,075.33 110,400.00 18,675,675.33

6 Motor vehicles - -

a. Jeeps 2,281,988.27 2,450,208.00 1,061,112.00 3,671,084.27

b. Cars 10,055,110.47 965,000.00 9,090,110.47

c. Trekkers 246,850.47 246,850.47

d. Trucks 1,308,811.61 1,308,811.61

e. Bus 1,943,701.15 1,943,701.15

7 Tractors and Trailers 164,114.88 164,114.88

8 Water Tankers 50,104.63 50,104.63

9 Furnitures and Fixtures 3,458,928.09 72,027.00 3,530,955.09

10 Office Equipments 5,944,389.36 1,994.00 5,946,383.36

11 Club Equipments 61,961.50 61,961.50

12 Survey Equipments 189,949.69 189,949.69

13 Laboratory Equipments 663,991.96 663,991.96

14 Electrical Equipments 7,653,389.06 197,372.00 7,850,761.06

15 Electronics Equipments 509,533.00 1,600.00 511,133.00

16 Tools and Implements 1,054,106.59 370.00 1,054,476.59

17 Computers and Peripherals 26,503,224.10 157,611.00 26,660,835.10

18 Cameras 5,362,707.00 13,595.00 5,376,302.00

19 Cycles 37,240.70 37,240.70

20 Weed Cutting Boat 5,650,949.00 5,650,949.00

21 Books & Library 68,482.00 13,889.00 82,371.00

22 Motor Cycles 490,522.60 251,127.00 239,395.60

TOTAL 269,474,705.49 12,077,614.00 2,387,639.00 279,164,680.49

GRAND TOTAL 1,088,498,874.56 262,941,765.29 2,387,639.00 1,349,053,000.85

Previous year's figures 1,015,010,058.23 73,523,346.33 34,530.00 1,088,498,874.56

SL. DESCRIPTION GROSS VALUENO. Cost as at Addition Deductions Total Cost

1.4.2009 during the during the as at(Rs.) year (Rs.) year (Rs.) 31.3.2010 (Rs.)

17

BALANCE SHEET AS AT MARCH 31ST, 2010

49,738,130.20 19,260,204.00 68,998,334.20 194672788.73 68610474.73

96,332,762.18 22,002,521.82 118,335,284.00 0.00 22002521.82

33,414,239.38 3,715,739.00 37,129,978.38 23498128.62 15604609.62

28,579,186.00 4,431,118.00 33,010,304.00 39999771.00 44188707.00

50,227,358.00 9,591,398.00 59,818,756.00 86322576.92 95881586.92

105,250,850.00 30,285,155.00 135,536,005.00 272566393.51 209193743.22

363,542,525.76 89,286,135.82 - 452,828,661.58 617,059,658.78 455,481,643.31

-

- - -

25,255,899.00 50,494,160.00 75,750,059.00 126105.05 50368054.05

26,487,802.05 3,925,631.00 30,413,433.05 38268505.95 33920038.95

13,835,013.28 294,104.00 14,129,117.28 2646927.98 2941031.98

10,013,831.64 724,412.00 10,738,243.64 14085130.08 14166903.08

10,512,259.74 1,241,073.00 105,994.35 11,647,338.39 7028336.94 8273815.59

- 0.00 0.00

1,164,777.69 351,348.00 987,409.96 528,715.73 3142368.54 1117210.58

7,215,330.64 425,967.00 889,901.59 6,751,396.05 2338714.42 2839779.83

246,543.29 47.00 246,590.29 260.18 307.18

1,306,541.74 341.00 1,306,882.74 1928.87 2269.87

1,943,701.15 1,943,701.15 0.00 0.00

164,089.19 4.00 164,093.19 21.69 25.69

50,081.81 10.00 50,091.81 12.82 22.82

2,570,482.79 94,060.00 2,664,542.79 866412.30 888445.30

5,455,096.06 73,694.00 5,528,790.06 417593.30 489293.30

43,564.85 2,760.00 46,324.85 15636.65 18396.65

185,553.31 660.00 186,213.31 3736.38 4396.38

626,381.69 5,642.00 632,023.69 31968.27 37610.27

7,652,004.91 156,545.00 7,808,549.91 42211.15 1384.15

494,355.45 5,034.00 499,389.45 11743.55 15177.55

1,003,502.33 7,647.00 1,011,149.33 43327.26 50604.26

22,576,926.64 2,450,175.00 25,027,101.64 1633733.46 3926297.46

5,357,949.61 5,506.00 5,363,455.61 12846.39 4757.39

31,810.93 815.00 32,625.93 4614.77 5429.77

5,650,949.00 5,650,949.00 0.00 0.00

50,040.00 16,699.00 66,739.00 15632.00 18442.00

463,790.64 4,010.00 249,102.79 218,697.85 20697.75 26731.96

150,358,279.43 60,280,344.00 2,232,408.69 208,406,214.74 70,758,465.75 119,116,426.06

513,900,805.19 149,566,479.82 2,232,408.69 661,234,876.32 687,818,124.53 574,598,069.37

441,142,150.55 72,792,486.00 33,831.36 513,900,805.19 574,598,069.37 573,867,907.68

DEPRECIATION WRITTEN DOWN VALUEAs at 1.4.2009 For the year Adjustment Total as at As at As at

(Rs.) (Rs.) during the year 31.3.10 31.3.2010 31.3.2009 (Rs.) (Rs.) (Rs.) (Rs.)

18

SCH-4: CONSTRUCTION WORK-IN-PROGRESS (OUT OF OWN FUNDS)

1,644,845.93 501018 Alluminium Park, Khurda 1,644,845.93

117,452,376.00 501025 Kalinga Nagar Infra Dev.work 120,288,457.00

1,921,160.00 501026 Info Park Compound Wall 1,921,160.00

339,513,616.00 501031 2nd IT Park(Knowledge Park) 345,736,948.00

3,588,772.00 501036 Improvement of IDCO Exibition Ground 5,960,276.00

6,223,735.00 501037 Aluminiumpark,Angul, JV with Nalco 6,491,135.00

1,247,200.00 501038 Exp. on IIU Scheme 2,901,700.00

1,685,400.00 501039 Projects th. PPP Mode 1,685,400.00

2,000.00 501040 Rehabilitation Colony,Mantira,Duburi 2,000.00

33,672,521.00 403005 IT & Corporate Tower with ICE MALL 33,672,521.00

452,634.00 401014 STP, Balasore 452,634.00

507,404,259.93 Total 520,757,076.93

PREVIOUS YEAR CODE PARTICULARS CURRENT YEAR

Sl.No. Description Expenditure up to theend of previous year (Rs.)

SCHEDULE - 3 : CAPITAL EXPENDITURE TOWARDS CONSTRUCTION OF INDUSTRIAL ESTATES

1 Development Expenditure 165,149,286.77

Total 165,149,286.77

Sl.No. Description Expenditure up to theend of previous year (Rs.)

SCHEDULE - 2 : CAPITAL EXPENDITURE TOWARDS DEVELOPMENT OF INDUSTRIAL ESTATES

1 Development Expenditure 399,963,380.01

Total 399,963,380.01

19


- 165,149,286.77 - 165,149,286.77

- 165,149,286.77 - 165,149,286.77

Expenditure Total Deductions Netduring the year (Rs.) Expenditure (Rs.) ( written back) (Rs.) (Rs.)


44,834,436.92 444,797,816.93 85,853,759.00 358,944,057.93

44,834,436.92 444,797,816.93 85,853,759.00 358,944,057.93

Expenditure Total Deductions Netduring the year (Rs.) Expenditure (Rs.) ( written back) (Rs.) (Rs.)

20


(Rs.) (Rs.)

SCHEDULE - 5 : CAPITAL EXP. FR. LAND ACQUISATION

883,168,418.00 502003 LA for Duburi.-Steel Complex 1,013,127,896.00

1,050,892,548.00 502004 LA for projects(Govt Land.-for Industries) 1,240,214,929.00

141,880.00 502006 LA EXP. FOR PCPIR PROJECT, PARADIP 141,880.00

210,546,447.00 502007 LA EXP. FOR LAND BANK 812,762,897.00

87,282,455.00 502001 LA EXP. for projects-govt. 87,282,455.00

11,985,510,243.60 502002 LA for projects(Private Land.-for Industries) 15,046,329,370.60

502005 Exp. On Infrastructure Dev. Of land 9,035.00

502008 Exp. For logistic support-POSCO LA work 818,170.00

14,217,541,991.60 TOTAL 18,200,686,632.60


(Rs.) (Rs.)

SCHEDULE - 6 : RECEIVABLES

16,422,990.59 304015 OSIC adjustment account 16,422,990.59

201,516.47 304014 IPICOL adjustment account -

12,070.71 305012 Insurance Claim Receivable 12,070.71

55,644,113.46 512004 Income tax ded at source(Refundable) 55,644,113.46

4,388,088.61 512003 Misc. deduction 4,385,088.61

76,668,779.84 TOTAL 76,464,263.37


(Rs.) (Rs.)

SCHEDULE - 7 : CASH AND BANK BALANCES

177,289.10 Cash in hand 297,581.95

3,070,995.50 504021 Cash in Transit. 15,784,347.21

5,278,378,198.40 Cash at Bank in STD A/C. 5,221,730,510.02

396,922,071.12 In Current A/C.(Including CLTD A/C with 597,695,347.24

SBI,IDCO TOWER BR.)

11,326,860.94 In Savings Bank A/C. 116,350,493.89

5,689,875,415.06 TOTAL 5,951,858,280.31

21


(Rs.) (Rs.)

SCHEDULE - 9 : MISC.ADV. RECOVERABLE IN CASH OR KIND

7,230,604.00 508003 Loans to others. 7,249,993.00

11,686,529.28 513018 Misc. Advance. 12,743,029.28

18,917,133.28 TOTAL 19,993,022.28


(Rs.) (Rs.)

SCHEDULE - 8 : ADVANCE TO SUPPLIERS AND CONTRACTORS

24,412,014.39 514002 Adv. to Suppliers for other purchase 25,078,085.39

514005

125,746,947.33 514004 Advance to Contractors. 102,028,574.33

150,158,961.72 TOTAL 127,106,659.72


(Rs.) (Rs.)

SCHEDULE - 10 : ADVANCE TO STAFF

736,363.54 513001 Advance to employees salary 1,609,660.54

1,485,420.76 513003 Adv. to employees travelling 1,464,344.86

817,976.77 513004 Adv. to employees festival 516,576.77

18,267.18 513005 Adv. to employees LTC 13,167.18

1,685,142.17 513006 Adv. to employees Medical 1,307,307.17

2,776,674.24 513009 Adv. to emp. S & M.Cycle 3,017,854.24

1,788,004.61 513008 Adv. to employees Car 2,089,633.61

2,551,239.65 513015 Staff Advance 2,803,593.41

1,737,896.51 513016 Works Advance. 1,770,901.01

49,859.05 513002 Adv. to employees Wages 49,859.05

8,961,676.10 513011 House Building Advance 7,528,052.10

4,302.00 513014 Adv. to employees Others 4,302.00

5,226,312.05 513010 Adv. to employees-Computer 4,280,385.05

30,683.50 513012 Adv. to employees-Cyclone. 31,433.50

272,090.00 513013 Spl. HB Advance 273,471.03

1,183,197.00 513007 Deposit of leave salary 1,271,425.00

29,325,105.13 TOTAL 28,031,966.52

22


(Rs.) (Rs.)

SCHEDULE - 12 : RCPT. ON CAPITAL ACCOUNT - INFRA. RCPTS

1,540,965.03 302007 Deposits from Industrialist 1,540,965.03

9,450,740.64 301017 Premium Price for Plots 9,450,740.64

47,373,981.91 301004 H.P.Instalment Receipt (Plot) 48,008,148.02

155,179,630.79 301005 H.P.Instalment receipt (sheds) 166,016,121.85

414,403.00 301006 H.P.Instalment receipt (shops) 789,713.00

269,665,585.09 301002 Premium Price for outright sale of sheds 287,071,005.09

14,526,649.29 301018 Prem. price for sheds 14,526,649.29

8,206,960.30 301019 Capital Profit on sale of assets 8,235,660.30

2,090,106,721.58 301001 Prem. price for outright sale of land 2,393,597,410.06

959,518.50 301011 Deposit for reservation charges of land 959,518.50

55,718,173.00 302001 Dep. For LA Projects-Govt. 61,342,173.00

1,054,608,988.00 302006 Dep. For LA Projects-(Govt. Land) fr. Industries 1,230,991,398.00

1,515,341.80 301003 Prem. price for outright sale of shops. 1,546,326.80

1,748,777,534.00 302003 Dep. For LA Projects-Steel Complex 1,751,183,334.00

12,209,290,496.07 302002 Capital Receipts - Industrialists(pvt.Land) 15,556,994,692.07

33,670,368.00 301013 EPIP Projects(Receipts- pvt. parties) 33,670,368.00

141,344,554.00 301010 OR sale of space in Fortune tower 132,912,425.00

17,842,350,611.00 TOTAL 21,698,836,648.65


(Rs.) (Rs.)

SCHEDULE - 11 : SUNDRY ADV. INCLUDING OTHER DEPOSITS

5,997,016.90 511001 Misc. deposits 5,997,016.90128,522.00 511004 Dpst.of Invmnt. subsidy for outright sale of sheds. 128,522.00

21,110,875.14 511002 Security deposit 22,139,815.1452,680,187.70 511003 EMD 47,600,187.70

512001 Income tax deducted at source(current Yr.) 41,501,125.00Adv. tax paid against Fringe-Benefit and

514009 Income -Tax 326,571,147.004,615,838.00 512002 ST deducted at source. 4,615,838.00

84,532,439.74 TOTAL 448,553,651.74

23


(Rs.) (Rs.)

SCHEDULE - 14 : GRANT/ SUBSIDIES RECEIVED (REVENUE GRANT)

15,250,000.00 203012 Govt. of Orissa ,Indl. Maint. Grant. 15,250,000.00

15,250,000.00 TOTAL 15,250,000.00


(Rs.) (Rs.)

SCHEDULE - 13 : OTHER LOANS

5,000,000.00 205001 OMAD Fund 5,000,000.00

5,000,000.00 TOTAL 5,000,000.00


(Rs.) (Rs.)

SCHEDULE - 15 : GRANT/ SUBSIDIES RECEIVED (CAPITAL GRANT)

500,000.00 203007 Govt. of Orissa ,Ind. Dept. for W/S works. 500,000.00606,000.00 203013 Govt. of Orissa,Rev.Dept. for Central Tool Room 606,000.00

& training Centre (CTTC)357,023,000.00 203011 Grants fm Govt. of India under Assitance to 357,023,000.00

States for Developing Export Infrastructure andAllied Activities for involvement of States inExport Effort(ASIDE)-Relating to IDCO only

40,000,000.00 203002 Govt. of India subsidy under No Industry Dist(NID) 40,000,000.00132,800,000.00 203003 Grants fm Govt. of India for Export 132,800,000.00

Promotion Industrial Park(EPIP)207,200,000.00 203004 Subsidy fm Govt. of India for Growth Centre 207,200,000.0029,868,000.00 203005 Grants fm Govt. of India for Integrated 33,241,000.00

Infrastructure Development Centre(IID)5,000,000.00 203009 Grants fm Govt. of Orissa for Integrated 5,000,000.00

Infrastructure Development Centre(IID)109,486,000.00 203006 Subsidy fm Govt. of Orissa for Growth Centre 109,486,000.0020,000,000.00 203014 Grants fm GOI, Food Processing, Khurda 20,000,000.007,500,000.00 203015 Grants Fm. Govt. of India fr. EPIP-Circular 7,500,000.00

Infrastructure Balance(CIB) Scheme108,000,000.00 203008 Grants from Govt.(STA ,PURI) 110,500,000.00

203010 Central Assistance for Urban Haat Project 4,500,000.00203017 Subsidy from Govt. of Orissa for ITIR,BBSR 779,580.00203018 Grant from GOI-MEGA Food Park in Orissa 19,199,000.00203019 Grant from GOO-External Linkage to SEZ 20,000,000.00

20,000,000.00 203021 Grant from GOO-New Ies for downstream Industries 20,000,000.00203022 Grant from GOO-Urban Haat Project 6,287,000.00

1,037,983,000.00 TOTAL 1,094,621,580.00

24


(Rs.) (Rs.)

SCHEDULE - 16 : DEPOSITS FROM CLIENTS

251,500,000.00 302009 Adv. against IDCO Adm. Ch 205,400,205.00

4,028,121.00 304024 Adv. against works 4,028,121.00

762,541,849.62 303001 Agency deposit -others 601,145,324.37

to 303004

163,454,600.00 203011 Liability towards ASIDE Grants-Other than IDCO 242,177,000.00

32,057,616.21 304001 EMD from Contractors 28,110,773.21

88,294,388.74 304003 S.D.from Contactor 121,896,159.74

184,888.13 304005 Other Deposit from Contractor 184,888.13

3,185,050.03 304002 EMD from suppliers 3,097,950.03

1,017,707.23 304004 S.D. from suppliers 1,278,208.23

1,241,807.50 301007 Deposit for rent of sheds 1,259,717.50

3,400,000.00 203016 IPICOL -

33,344,087.73 301009 Misc. deposit 33,498,018.73

76,400.00 304023 Deposit for regn.fees for housing scheme 76,400.00

46,309,874.90 301008 S.D. for Water Supply 32,896,066.90

13,114,011.37 304012 S.D.for others 13,039,624.37

23,060,117.00 304021 S.D. from Buildings 27,930,219.00

173,234.00 305005 Group Savings Linked Insurance(GSLI) claims 194,043.00

353,000.00 301012 Deposit for shop 353,000.00

774,062.05 304009 Service Tax claim/payment 949,577.64

70,445,122.00 302004 Land Acquisition Officer(LAO) Admin. Charges 105,528,237.00

29,959,680.00 301016 Other dep. For L.A 20,644,077.00

& 302005

45,355,303.00 304026 IIUS COMPONENT RCPTS/PMNTS (STEEL COMPLEX) 45,635,303.00

2,885,000.00 304018 Mobilisation Adv. Received 2,885,000.00

37,687.00 308001 EDLI Benefit A/C(RCPT/PMNT) 37,687.00

308003 Prov. For Income -Tax for Current Year 326,182,568.00

208,978.00 308002 Time Barred Cheques(Stale Cheques) 208,978.00

1,577,002,585.51 TOTAL 1,818,637,146.85

25


(Rs.) (Rs.)

SCHEDULE - 17 : ESTABLISHMENT EXPENSES

135,742,279.00 701001 Salaries and Allowances 223,031,995.60

1,966,725.00 701002 Wages 1,234,252.00

10,420.00 701004 Leave travel concession -

1,915,952.00 701006 Uniform and clothes 4,015,605.00

7,613,918.00 701007 Employers Contribution to PF 16,145,442.00

5,180,000.00 701008 Group gratuity cum LIP 46,065,200.00

621,909.00 701009 Leave Salary and pension contribn. 663,780.00

2,469,796.00 701010 Reimbursement of conveyance exp. 2,500,774.00

536,832.00 701011 Reimbursement of servant expenses 1,000,629.00

2,521,976.00 701012 Incentive to employees 2,022,197.00

4,642,635.00 701013 Bonus to Employees 4,425,102.00

10,026,691.00 701024 Ex-gratia to Employees 12,930,793.00

516,976.00 702010 House rent 406,791.00

859,176.00 701005(3) Medical expenses 1,319,496.00

5,004,889.00 701019 Employer's contribution to Pension Fund 5,204,600.00

594,613.00 701021 Payment on account of VRS -

7,261.00 701022 Contribution fr Welfare Fund 48,187.00

471,976.50 701016(5) Admn & insp ch.on P.F,F.P.F, E.D.L.I 528,084.00

180,704,024.50 TOTAL 321,542,927.60

26


(Rs.) (Rs.)

SCHEDULE - 18 : ADMINISTRATIVE EXPENSES

3,200.00 701020 Accident Death compensation 6,400.00

2,653,008.00 702001 Travelling and conveyance 2,621,668.00

702047 Travelling and conveyance(Foreigh Tours) 53,857.00

1,996,053.00 702002 Advertisement and publicity 2,986,753.00

2,496,006.55 702003 Printing and stationery 2,006,811.50

1,547,904.81 702004 Telephone and telexe charges 1,664,737.37

456,461.17 702033 Internet & E-Mail expenses 276,470.00

438,343.90 702007 Vehicle repairs 392,455.00

4,875,503.60 702006 Vehicle Maintenance 4,608,510.65

106,389.00 702008 Vehicle insurance 207,519.00

10,133,936.00 702038 Municipal fees 3,144,654.00

21,108.00 702011(2) Rent,rates and taxes 124,410.00

457,197.00 702042 Insurance charges 382,853.00

75,167.00 702017 News papers and peridicals 68,137.00

206,445.00 702005 Postage and telegrams 737,522.00

17,601,545.76 702027 Repairs and maintenance of Adm.Bldg. 18,057,934.75

27,987.00 701014 Staff Welfare Expenses 506,429.00

354,603.00 702028 Repairs and mainrenance-others 206,084.00

263,454.78 702012 Bank charges 231,719.57

30,761,250.00 702014 Donation & Subscription 30,285,200.00

702015

957,077.00 702019 Legal expenses 443,410.00

4,500.00 702021 Directors' sitting fees 4,000.00

101,299.00 702024 Membership fees 52,678.00

3,757,853.00 702025(11) General expenses 6,944,859.00

1,414,315.00 702041 Miscellaneous fees 1,283,098.00

80,627.00 702032 Computerisation charges 1,595,767.00

1,126,492.00 702034 Computer consumables 2,033,870.00

4,579,017.67 702030 Rprs and maint. of staff quarters 2,929,456.31

51,510.00 702031 Rprs and maint. of other assets 41,727.00

13,260.00 706005 Profession Tax paid -

922,036.00 706006 Fringe benefit Tax -

1,786,851.00 702043 Expenditure on Exibition -

89,270,401.24 TOTAL 83,898,990.15

27


(Rs.) (Rs.)

SCHEDULE - 19 : INFRASTRUCTURE MAINT. EXPENCES

18,043,278.38 702037(3) Electricity charges 13,609,229.90

605004

12,798,908.00 705006 Water charges 10,017,272.00

708004

37,717.00 702026 Gardening and horticulture 24,551.00

- 704001 Decreetal dues paid 704,507.00

7,483.00 707002 Intt. On delayed payments -

1,667,861.00 703003 R/M-Water supply System in I/Es 127,950.00

48,527,092.50 703002(3) Repairs and maintenance-sheds 69,147,646.00

81,082,339.88 TOTAL 93,631,155.90


(Rs.) (Rs.)

SCHEDULE - 20 : WORKS EXPENSES

2,273,586.00 702029 Rprs.& Maint. of Plant and Machinery 2,071,005.50

51,000,000.00 705014 INFRA GRANT TO JCDL -

7,993,515.00 705004 Design and Consultancy Charges 20,799,592.00

39,641.00 705007 Misc. Exp. For works 64,321.00

500.00 705001 Purchase of Tender Paper 3,342.00

63,446.00 705003 Storage Incidental Charges 22,928.00

28,131.00 705008 Laboratory Expenses 108,906.00

2,295,984.00 702009 Hire Charges Paid 2,694,116.50

3,463.00 705013 OHSDP PACKAGE-5 -

1,825,103.00 703006 R&M of Urban Haat 2,724,129.00

65,523,369.00 TOTAL 28,488,340.00

28


(Rs.) (Rs.)

SCHEDULE - 21 : INCOME FROM WORKS

85,168,006.00 603004 Supervision Charges Realised 104,846,274.00

558,843.00 603001(6) Works Income 301,971.00

102.24 603007 Storage charges realised -

86,500.00 606014 Reg. Fees from Vendors 226,000.00

1,647,174.00 601011 Income from Ekamra Haat 1,716,969.00

12,081,389.00 603002 Contract work Recepts-Const.works 2,495,127.00

99,542,014.24 TOTAL 109,586,341.00


(Rs.) (Rs.)

SCHEDULE - 22 : INCOME FROM INDUSTRIAL ESTATES

956,399.00 601001 Rent Received on I/es 5,642,049.50

3,287,162.11 601002 Interest received on plots 2,528,048.53

601012

3,822,491.59 601003 Interst receipt on sheds 7,421,501.50

601014

4,251,162.00 601005 Processing Fees 8,423,246.00

17,640,721.95 601008 Transfer fees Realised 22,432,289.63

263,209.00 601015 Occupation Ch. Realised from IEs 3,194,865.00

34,751,241.22 601010 Water Charges Realised fm IE's 72,196,798.81

3,042.00 605002 Water Charges Realised fm Buildings -

12,397,615.00 605003 Water Charges Realised fm Tenants 445,136.00

203,372.00 606001 Water Charges Realised fm Staff Qtrs 197,008.00

17,368,269.09 601009 Ground Rent Collection 15,468,008.49

13,021,468.54 601013 Cess Collections 11,879,890.30

573,837,685.00 602001 Administration Charges Realised(LA) 732,095,022.00

261,581.00 604004 Intt. Receipts on land(Duburi Steel complex) -

10,236,022.00 605006 Maintenance Charges Realised 9,475,782.00

19,217,757.22 601007 Infrastructure Maintenance Charges 21,064,946.79

711,519,198.72 TOTAL 912,464,592.55

29

ISO 9001 & 14001 CORPORATION

SCHEDULE-23: NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR 2009-10

1. The accounts of the Corporation have been prepared on the historical cost basis. The Corporation has

adopted cash system of accounting w.e.f Dt.01/04/1996 which was approved by the Board of Directors of

IDCO in their 40th meeting held on Dt.25/06/1996.

2. In accordance with the rules of OIIDC Act, the excess of Assets over liabilities transferred from OSIC to the

Corporation amounting to Rs.164.23 lakh is to be treated as subsidy/grant from Govt. of Orissa. Accordingly

Corporation moved to the Govt. of Orissa to confirm such excess value, as subsidy/grant to the Corporation.

3. From F.Y 2003-04 depreciation have been charged uniformly on Written down value method on all assets at

the rates prescribed under Income Tax Act.

4. The Corporation is in process of reconciliation/adjustment of various old outstanding balances on account

of advances/liabilities.

5. The figures of previous year have been regrouped and rearranged wherever necessary to make them comparable

with those of the current year.

As per our report of even date

for GRC & Associates

Chartered Accountants

Sd/- Sd/- Sd/-

(Sri S.P.Tripathy) (Sri Priyabrata Patnaik) (CA A.Mohapatra)

Chief General Manager (Finance) Chairman-cum-Managing Director Partner

Bhubaneswar,

The 8th day of October, 2010

30

CONTCONTCONTCONTCONTAAAAACT FOR BCT FOR BCT FOR BCT FOR BCT FOR BUSINESS PRUSINESS PRUSINESS PRUSINESS PRUSINESS PROPOSALSOPOSALSOPOSALSOPOSALSOPOSALSChairman-cum-Managing Director, IDCO Towers, Bhubaneswar - 751 022

Ph : 0674-2542784 (O), 0674-2536677 (R), E-mail:[email protected]

CORPORATE OFFICE, IDCO TOWERS

R.K. Agarwal, CGM (Civil) IDCO, Bhubaneswar, Ph : 0674-2542008(O), 2535787(R), E-mail:[email protected]

G.R. Das, Consultant (P&A) & Land, IDCO, Bhubaneswar, Ph : 0674-2542248(O), 2361474(R), E-mail:[email protected]

S.P. Tripathy, CGM (Finance), IDCO, Bhubaneswar, 0674-2541504, 9437253010 (M), E-mail:[email protected]

Pramod Ch. Pradhan, CGM(ID), IDCO, Bhubaneswar, Ph : 0674-2546894 (R). E-mail:[email protected]

G.C. Mangual, CGM (P & C) IDCO, Bhubaneswar, Phone-0674-2542465

Sudeep Nayak, CGM (Env), IDCO, Bhubaneswar, 9437091671-2541525 (O)

G. Panda, Consultant (P&C), IDCO, Bhubaneswar, Ph : 0674-2540820 (O), 2361818 (R), E-mail:p&[email protected]

M.K. Mishra, Mgr (Civil) & MR, IDCO, Bhubaneswar, 9437092229

DIVISION OFFICE

Abakash Mishra, Maintenance Division, IDCO, Ph : 0674-2580625, 2586685

S. Baral, BCD-I, IDCO, Bhubaneswar, Ph : 0674-2543886(O), E-mail:[email protected]

Bibhukishore Mohanty, BCD-II, IDCO, Bhubaneswar, Ph : 0674-2543891 (O), E-mail:[email protected]

B. Swain, Electrical Division, IDCO, Bhubaneswar, Ph : 0674-2542766(O), 2517397(R), E-mail:[email protected]

S.K. Dash, Water Supply Division, IDCO Bhubaneswar, Ph: 0674-2543820(O), 2350809(R),

E-mail:[email protected]

R.K. Mohapatra, Cuttack Division, IDCO, I.E. Jagatpur, Ph: 0671-2491716(O), E-mail:[email protected]

B.B. Dhal, Jajpur Road Division, IDCO, At/Po : Dala, Jajpur Road, Dist. Jajpur, Ph:06726-224206

M.N. Mohanta, Balasore Division, IDCO, I.E. Anganagadia, Ph : 06782-262623(O), E-mail:[email protected]

N.K. Sahoo, Berhampur Division, IDCO, I.E. Berhampur, Ph: 0680-2290923(O), 2291279, E-mail:[email protected]

B.N. Barik, Angul Division, IDCO, Angul Industrial Estate, Angul, Ph:06764-236497

P. Nayak, Jharsuguda Division, IDCO, I.E., Ph: 6645272908(O), E-mail:[email protected]

A.K. Mishra, Rourkela Division, IDCO, 15 Civil Township Area - 7&8, Ph:2401525(O), E-mail:[email protected]

R.K. Nayak, Sunabeda Division, IDCO, 4R-1/1, A.E.F. Colony, Ph : 220211(O), E-mail:[email protected]

G.S. Nayak, Bolangir Division, IDCO, Ph : 06652-232405(O), E-mail:[email protected]

B.K. Samantray, Ekamrahat Division, IDCO, Unit-3, Exhibition Ground, Bhubaneswar, Ph : 0674-2393169

S.K. Jena, GA Qrs Division, IDCO, Bhubaneswar, Ph : 0674-2743030 (O)

S.K. Nayak, Keonjhar Division, 9338495431 (M)

S.C. Khuntia, IIT Division, 9437541405 (M)

P.K. Swain, Water Supply Division-II, IDCO Bhubaneswar, Ph. 0674-2744890

ANNUAL REPORT 2009 -10 - Idcoenglish.idco.in/2017/Portals/0/PDF/IDCO AR 2009-10.pdf ·...

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