annual report 2011-12 - Heavy Engineering Corporation Limited

43
ANNUAL REPORT 2011-12
C. Status of Revival Package : Agreed to amongst DHI,GOI, Govt. of Jharkhand and HEC Ltd.
Revival Package approved by
CCEA
1 Not specifically mentioned
as to the waival of electricity
dues. But Jharkhand Govt's
proposal for waiver of ` 500
Crores against electricity dues
was approved.
2 Waiver of PHED dues of `
31.03 Crores
3 Waiver of Sales Tax dues of `
25.51 Crores
4 To authorize HEC to receive
` 250 Crores from Govt.
of Jharkhand with no future
commitment for transfer of any
more land or building.
5 To allow HEC to accept the
proposal of Govt. of Jharkhand
to transfer 2342 acres of
land. This includes 85 acres
of appurtenant land to the
building.
6 To allow HEC to accept transfer
of 17 buildings and 1155
residential quarters along
with land appurtenant there
to valuing ` 142.23 Crores
to GOJ.
As per Affidavit filed by Govt.
of Jharkhand and approval of
Hon'ble High Court of Jharkhand.
Waival of electricity dues of `
306.37 crores and delayed payment
surcharge up to the date of Final
settlement by JSEB after approval of
Hon’ble High Court of Jharkhand.
Waival of PHED dues ` 32.65 crores
as on 31.03.2007.
The GOJ agreed that payment of
` 25.51 Crores by HEC will be
treated as full and final settlement
of all commercial Tax liability upto
31.03.2007 including penalty / penal
interest for delayed payment etc. to
which the assessment of CT liability
pertains to. Any liability separate
from it and discovered subsequently
will be treated as per relevant law/
guidelines.
Grant of ` 275.51 crores including `
25.51 crores mentioned in Sl.No. '3'
above.
HEC to surrender 2342 acres of land
to Govt. of Jharkhand.
HEC to surrender 17 nos. Non
residential Building and 1148
residential quarters to Govt. of
Jharkhand.
Amount to be
Waived / Adjusted
/ Received
` 969.85 Crores
total amount to be
waived / Adjusted.
` 32.65 crores
(Waiver)
1) ` 25.51 crores to
be paid by GOJ
2)The company is
to deposit ` 25.51
crores with GOJ
Amount Waived /
Adjusted / Received
Waived ` 853.42 Crores
(Electricity dues of `
306.37 Crores and DPS
of ` 547.05 Crores upto
31.08.2008)
` in Crore
Balance amount
to be Waived /
Adjusted / Received
` 116.42 Crores
against DPS from
01.09.2008 to
31.03.2010 yet to be
waived.
0.00 ` 32.65 crores
(Waiver)
1) ` 25.51 crores 1) NIL
2) ` 25.51 Crores
deposited by HEC towards
Commercial Taxes.
2) NIL
3) Order of waiver 3) Order not issued 3) Order for waiver
all Commercial
of all dues upto
tax liability up to
31.03.07 by Govt.
31.03.2007 is to be
issued by GOJ.
of Jharkhand is still
awaited.
` 275.51 crores ` 164.21 crores ` 111.30 crores
Possession of 1902.64 acres of land had been handed over to GOJ for
which Deed of Conveyance is yet to be executed. Balance 354.25 acres
of land is to be handed over after removal of encroachment.
17 Nos. of Non Residential Buildings , 1148 Nos. of Residential Buildings
and 85.11 acres of appurtenant land were already under possession of
GOJ on rent upto 31.03.2009 and had been handed over to Government
of Jharkhand. Registration of Buildings are yet to be executed.
The above package has not been accounted for due to non implementation of package in full by Govt. of Jharkhand and also non completion of
registration of Buildings and deed of conveyance for land. Accordingly the amount received from Govt. of Jharkhand has been kept as advance.
2. The prayer of HEC Limited to the Chairman of Central Board of Trustees, Employees Provident Fund Organisation, for waiver of damages amounting
to ` 95.02 crore for the period from 03/76 to 09/99 levied by Regional Provident Commissioner, Ranchi, has been rejected vide letter dated