Annual Report 2010-2011 - Gammon India

33. The balance with The Freyssinet Prestressed Concrete Company Limited is as per books of accounts and subject to reconciliation.
34. Cash & Bank balances include ` 2.00 Crores (Previous Year ` 2.13 Crores) with bank branches in foreign countries relating to certain foreign
projects which are not readily available for use by the Company and are subject to exchange control regulation of the respective countries.
The Fixed Deposit related interest and principal account as at the year-end are as per ledger and are subject to reconciliation, which is under
progress.
Balances in Foreign Bank Accounts are as per ledger and in case of some of the banks are subject to reconciliation. Details of balances with
Non Scheduled Banks are as follows:
(` in Crores)
Sr. No. Name of the Bank As on
31.03.2011
As on
31.03.2010
Maximum O/s
2010-2011
Maximum O/s
2009-2010
1. Affairs of the USSR 1.83 1.83 1.83 1.83
2. Rafidian Bank, Baghdad 0.06 0.06 0.06 0.06
3. Uco Bank London 0.08 0.08 0.08 0.08
4. Uco Bank US$ 0.02 0.02 0.02 0.02
5. Nepal Arab Bank US$ 0.01 0.01 0.01 0.01
6. Standard Chartered Bank, Bangladesh — 0.01 — 0.01
7. HSBC, Abudhabi — 0.12 — 0.12
8. BNA – Algeria – 65/88 0.02 0.45 1.01 3.26
9. BNA – Algeria – 83/34 0.15 2.83 1.26 1.66
10. BNP Paribas CEDAC 0.04 0.07 0.04 5.93
11. BNA001-00602-0209-89/ G203 0.28 — 1.99 —
12. BNA001-00602-0209-89/G202 0.18 — 3.91 —
13. Barclays Bank – Italy 0.04 — 0.04 —
TOTAL 2.71 5.48 10.25 12.98
35. During the F.Y. 2010-2011, search action was initiated against the Company u/s 132 of the Income Tax Act, On a prudent basis an additional tax
provision of ` 17 Crores have been made in accounts of F.Y. 2009-2010.
36. Joint Venture:
(a) Details of Joint Ventures entered into by the Company:
Sr. No. Name of Joint Venture Description of Interest % of involvement
1. Gammon Srinivas Jointly Controlled Operation 80.00%
2. BBJ GIL Jointly Controlled Operation 30.50%
3. JAGER GIL Jointly Controlled Operation 50.00%
4. Jaeger Gammon Jointly Controlled Operation 50.00%
5. Patel Gammon Jointly Controlled Operation 49.00%
6. Gammon Patel Jointly Controlled Operation 50.00%
7. Hyundai Gammon Jointly Controlled Operation 49.00%
8. Jaeger Gammon Jointly Controlled Operation 50.00%
9. Gammon BBJ Jointly Controlled Operation 50.00%
10. BBJ Gammon Jointly Controlled Operation 49.00%
11. Gammon Technofab (Transmission & Distribution of Electricity
& Water)
Jointly Controlled Operation 70.00%
12. Gammon Limak (Vishnugod Pipalnote HEPP) Jointly Controlled Operation 51.00%
13. Gammon Tensacuai Jointly Controlled Operation 80.00%
14. Gammon Construtora Tensacuai Jointly Controlled Operation 60.00%
15. Lencon Gammon Jointly Controlled Operation 51.00%
16. Aydeniz Gammon Jointly Controlled Operation 30.00%
17. Gammon Aydinar (Rammam) Jointly Controlled Operation 50.00%
18. GIL Simplex (Khongsang Imphal) Jointly Controlled Operation 51.00%
19. GIL Simplex (Dholakal Tupul) Jointly Controlled Operation 51.00%
20. GIL Marti (Civil Work Sainj HEP) Jointly Controlled Operation 51.00%
21. GIL KCT (Rupiasagar Kasiabara HEP) Jointly Controlled Operation 67.00%
A NNUAL R EPORT I 2010/11
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