File_2012_Document1

130 Jindal Steel & Power Limited Business Leadership Sustainable Operations Excellent Governance Robust FinancialsStandaloneAnnual Report 2011-12131NOTES to the financial statements as at and for the year ended 31st March, 2012 NOTES to the financial statements as at and for the year ended 31st March, 2012As at31st March, 2012(` in Crore)As at31st March, 20118 SHORT-TERM BORROWINGSa) Secured short-term borrowingsFrom BanksCash Credit from Banks 447.63 151.83Other Loans - 266.20447.63 418.03Secured Short-term borrowings 447.63 418.03Cash credit from BanksSecured by hypothecation by way of first charge on stocks of finished goods, raw materials, work in process, stores and spares andbook debts and second charge in respect of other movable and immovable assets. The cash credit is repayable on demand.b) Unsecured short-term borrowingsi) From BanksShort Term loans 477.21 795.82Other Loans 2,467.14 1,349.582,944.35 2,145.40ii) Loans and advances from related partiesInter Corporate Deposits (from subsidiary) {Note no. -36(b)} 2,486.56 1,518.562,486.56 1,518.56Unsecured Short term borrowings 5,430.91 3,663.96Total Short Term Borrowings 5,878.54 4,081.99As at31st March, 2012(` in Crore)As at31st March, 20119 TRADE PAYABLESTrade Payables 998.31 709.00Total Trade Payables 998.31 709.00The Company has so far not received information from vendors regarding their status under the Micro, Small and Medium Enterprises(Development) Act, 2006 and hence disclosure relating to amounts unpaid as at the year-end together with interest paid / payableunder this Act have not been given.As at31st March, 2012(` in Crore)As at31st March, 201110 OTHER CURRENT LIABILITIESa) Current maturities of long term debts 1,341.86 669.21b) Interest accrued but not due on borrowings 45.84 37.46c) Investor Education & Protection Fund*Unpaid dividend 16.50 14.18Unpaid matured deposits and interest accrued 1.55 1.17d) Other Payables**Statutory dues 472.01 384.88Advance from customer and others 289.73 170.20Security deposits and advances 13.01 12.77Creditors for capital expenditure 936.00 903.50Outstanding liabilities for expenses 501.47 405.33Others 43.56 33.43Total Other Current Liabilities 3,661.53 2,632.13Total Other Current Liabilities 3,661.53 2,632.13*There is no amount due and outstanding to be credited to Investor Education and Protection Fund**In accordance with Accounting Standard (AS-29) ‘Provisions, Contingent Liabilities and Contingent Assets’ and based on managementassessment, the Company had made a provision for contingencies on account of duties and taxes payable under various laws. At thebeginning of the financial year, there was an outstanding provision of ` 156.02 crore (Previous year ` 156.02 crore) included in ‘OtherPayables’ with no provision/utilisation, at the end of the financial year, there is an outstanding provision of ` 156.02 crore (Previousyear ` 156.02 crore).11 SHORT TERM PROVISIONSa) Provision for Employee benefitsAs at31st March, 2012(` in Crore)As at31st March, 2011Leave Encashment 50.21 36.98b) Other Provisions50.21 36.98Provision For Taxation-Income Tax 2,248.87 1,705.99Provision For Taxation-Wealth Tax 0.81 0.82Proposed Dividend 149.57 140.29Corporate Tax On Dividend 3.17 3.772,402.42 1,850.87Total Short Term Provisions 2,452.63 1,887.85