File_2012_Document1

152 Jindal Steel & Power Limited Business Leadership Sustainable Operations Excellent Governance Robust FinancialsStandaloneAnnual Report 2011-12153NOTES 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, 2012B. Transactions with Related PartiesDescriptionSubsidiary, Step downSubsidiaries, Associatesand Joint venturesCurrentYearPreviousYearKey ManagementPersonnelCurrentYearPreviousYear(` in Crore)Enterprises controlledby Key Managementpersonnel and theirrelativesCurrentYearPreviousYearPurchase of Goods/Services 1648.33 467.81 - - 37.50 23.33Sales of Goods (incl. capital goods) 441.98 344.07 - - 1062.77 954.52Rendering Of Services 6.49 28.35 - - 2.89 3.30Sale Of Investments - - - - - -Investment in Equity Shares/307.93 142.80 - - - -preference sharesAdvance against share Application 100.73 25.47 - - - -moneyOther Advances given/(taken) 47.82 - 0.69 0.18 (18.42) 27.73Security Deposit Given - - - - 50.00 -Rent and other expenses Paid - - - 0.02 - -Interest received/(paid){net} (158.59) (31.38) - - 39.38 29.30Dividend received/(paid) 130.06 117.05 - - - -Remuneration* - - 80.12 77.94 - -Lease rent received - - - - 3.00 3.00Hire charges paid - - - - 27.38 22.09Guarantees/Corporate guarantees (143.31) (3159.62) - - - -obtained/(given)Inter-corporate deposits given 208.15 295.52 - - 8.64 -Inter Corporate deposits Repaid/ (187.50) - - - (33.04) -AdjustedInter Corporate deposits written off (51.30) - - - - -Inter-corporate deposits taken 1688.00 836.00 - - - -Inter-corporate deposits refunded 720.00 516.00 - - - -Outstanding Balance at the year endInvestment in Equity shares 1371.77 1179.42 - - - -Guarantees Outstanding 3189.65 3231.37 - - 16.66 16.66Inter Corporate Deposits Taken 2486.56 1518.56 - - - -Advance from customer & Others - 8.82 - - - 0.44Loans and Advances (including 1192.61 1223.88 0.69 0.18 487.39 461.23Interest)Advance against Share Application 97.04 63.78 - - - -moneyDebtors – Dr. Balance 16.57 74.71 - - 119.22 28.98Creditors – Dr. Balance 28.88 4.82 - - 7.04 23.22Cr. Balance 132.09 75.28 - - 2.25 0.68* Related Party remuneration includes ` 0.24 crore (previous year ` 0.18 crore) paid to relative of Key managementpersonnel.Disclosure in respect of Material Related party transactions during the year1 Material transactions with Subsidiaries, Step Down Subsidiaries and AssociatesName of RelatedPartyJindalPowerLimitedJindalMinerals& MetalsAfricaLimitedJindal Steel& power(Mauritius)LimitedJindalSteelBoliviaShadeedIron &Steel,OmanNalwaSteel &PowerLimitedJindalMiningSA (Pty)LimitedRelationship Year Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate SubsidiaryPurchase of Goods/ 2011-12 238.75 - - - 868.37 396.83 139.81Services2010-11 243.65 - - - - 128.85 95.31Sale of Goods 2011-12 63.65 - - - 12.69 361.91 1.672010-11 70.99 - - - 21.44 251.64 -Rendering of services 2011-12 6.09 - - - - - -2010-11 28.35 - - - - - -Investment of Equity 2011-12 - - 152.47 67.46 - - -2010-11 - - - 142.10Investment in2011-12 - 87.97 - - - - -Preference Shares 2010-11 - - - - - - -Advance against 2011-12 - - - 81.34 - - -share application 2010-11 - - - 6.73moneyOther advances given 2011-12 - - - - - 47.50 -2010-11 - - - - - -Interest received 2011-12 - - 63.29 - - - -2010-11 4.88 68.02Interest paid 2011-12 222.35 - - - - - -2010-11 104.40Dividend Received 2011-12 130.06 - - - - - -2010-11 117.05Corporate guarantee/ 2011-12 - - 25.58 99.31 - - 18.42Guarantee obtained/ 2010-11 - - 2344.13 - 808.17 - -(given)Inter-corporate 2011-12 - - 200.49 - - - -deposits given 2010-11 - 5.92 289.03Inter-corporate 2011-12 - (88.05) (99.45) - - - -deposits repaid/ 2010-11 - - - - - - -adjustedInter-corporate 2011-12 - - (51.30) - - - -deposits written off 2010-11 - - - - - - -Inter-corporate 2011-12 1688.00 - - - - - -deposits taken 2010-11 836.00Inter-corporatedeposits refunded2011-122010-11720.00516.00- - - - - -