File_2012_Document1

186 Jindal Steel & Power LimitedBusiness Leadership Sustainable Operations Excellent Governance Robust FinancialsAnnual Report 2011-12187ConsolidatedNOTES to the consolidated financial statements as at and for the year ended 31st March, 2012 NOTES to the consolidated 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.As at31st March, 2012(` in Crore)As at31st March, 2011b) Unsecured Short-term borrowingsi) Debentures 1,000.00 -Redeemable Non Convertible Debentures 1,000.00 -ii) From BanksShort Term loans 654.54 4,158.37Other Loans 2,467.14 1,349.583,121.68 5,507.95DebenturesUnsecured Short term borrowings 4,121.68 5,507.95Total Short Term Borrowings 4,569.31 5,925.98The following unsecured redeemable non convertible debentures are privately placed and are redeemable at Par at the end of 2 yearsfrom the respective date of allotment. The call / Put option can be exercised by the either party after six months from the respectivedate of allotments.a) 3500 nos. 10.25% Non Convertibe debentures of ` 1,000,000 each (date of allotment 21st October, 2011)b) 3750 nos. 10.70% Non Convertibe debentures of ` 1,000,000 each (date of allotment 30th January, 2012)c) 1500 nos. 10.55% Non Convertibe debentures of ` 1,000,000 each (date of allotment 17th February, 2012)d) 1250 nos. 10.55% Non Convertibe debentures of ` 1,000,000 each (date of allotment 24th February, 2012)As at31st March, 2012(` in Crore)As at31st March, 20119 TRADE PAYABLESTrade Payables 1,251.36 933.55Total Trade Payables 1,251.36 933.55As 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 74.43 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 515.93 393.98Advance from customer and others 290.07 161.50Security deposits and advances 13.01 12.77Creditors for capital expenditure 1,016.14 1,192.93Outstanding liabilities for expenses 501.47 405.33Others 339.20 366.464,110.16 3,254.99Total Other Current Liabilities 4,110.16 3,254.99*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).As at31st March, 2012(` in Crore)As at31st March, 201111 SHORT TERM PROVISIONSa) Provision for Employee benefitsLeave Encashment 52.63 37.1452.63 37.14b) Other ProvisionsProvision For Taxation-Income Tax 3,905.15 2,904.77Provision For Taxation-Wealth Tax 0.81 0.82Proposed Dividend 149.57 140.29Corporate Tax On Dividend 3.17 3.774,058.70 3,049.65Total Short Term Provisions 4,111.33 3,086.79