| 1. RELATED PARTY DISCLOSURE
Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
(A) List of Related Parties
(i) Holding Company
Hindalco Industries Limited
(ii) Subsidiaries Company
Aditya Birla Chemicals (Belgium) BVBA
(iii) Fellow Subsidiaries Company
Utkal Alumina International Limited
Renuka Investment and Finance Limited
(iv) Key Managerial Personnel
Mr. K.C. Jhanwar (Managing Director)
(iv) Significant Influence
Tanfac Industries Ltd.
B.2 Power (electricity) purchase as well as sale (supply) to UPPCL &
JSEB has been accounted for in the accounts as sale/purchase of power.
B.3 In the opinion of the management, Current Assets, Loan and
Advances would realize, at least, at the value stated in the Balance
Sheet, in the normal course of business.
B.4 Stores & Spares consumed includes replacement of Spare parts of
Plant & Machinery, as per consistent policy followed by the company.
B.5 Statutory dues include Rs.1025.00 Lacs (Previous Year Rs. 879.36
Lacs) towards liability made under Entry Tax of Goods Act, 2007 (UP)
which is disputed.
B.6 The depreciation expense charged for the year ended March, 31 2015
is lower by Rs 2537.82 Lacs arising out of difference in useful lives
of fixed assets as per Schedule XIV of Companies Act 1956 Act and
Schedule II of Companies Act, 2013.
B.7 The Company has a process whereby periodically all long term
contracts are assessed for material foreseeable losses. At the year
end, the Company has reviewed and ensured that adequate provision as
required under any law / accounting standards for material foreseeable
losses on such long term contracts has been made in the books of
account. The Company did not have any derivative contracts as at
balance sheet date
B.8 Figures of previous year have been regrouped / rearranged wherever
necessary
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