CITY AND INDuSTR:AL DEVELOpMEN MAHARASHTRA LIM:TED ( A Govt of M ah ara shr ra (Jndcrtakinl:) RECD OFFiCE: “ NIRMAL≒ 2“noor,Nattman Point Mumbai-400024 E ma卜 cscDddco maharashtra qov h VVebs te cidco maharashtra gov in CiN:U99999MH1970SCC014574 CIDCO/CSD/43AdJ ACM/2015/2020 To HEAD OFF:CE: CIDCO Bhavan,CBD Bda NavI Mumbal-400614 Phone i 22-67918123′ 8564 Faxi 22-67918194 23 11 2015 NoUce of Cty under : NOTIQ』 NOTECE‐ ADJOURNED 43d ACMイ FY 20■ 2‐ 13) is hereby given that the 43商 (Forけ Third)AdJoumed Annual cener And lndust"a:Development corporauon oF Maharas l be held as 〕 (2ヽ Iい 「 Day Tuesday Date 1'December 2015 ■me 02 45 P M Venue 'Nirmal', 2"d Floor, Nariman Point, Mumbai-400 021. S『 No. ame of the Shar€holdeE 1 Shri shriram Yadav, Jt. S€cretary, UDan Devetopflent DepadnenL Govemment or anala$Ea. (R€pr€seniathE of c.vemor of ahardEhtr - hok ing 194993 siaE) 2 shn s ddharan Salmath.]t sec etary/Uiban Dae opment are) 3 Shn G,A, tokhande, Depoty s€cretary, Urban DeEiopm€n DepartnEnt, Gor€mmert of r"laharashEa. (holding I shre). 4 stm tnhnd Xulkimi, Under s€detary, Llrban OewtoprEnt Ocparun€n! GoEmm€rt of r.laharashtB. (hording r sharc). C υ shn s.nFy Banao Under sEetary, Ulban oev€loorEr Depa.ullen! GoEmtEt or I{ahaEshEa. (holdins I sharc). 6 Snri i4.M. P.til, Uft,er SeoEt ry Urb6n DelEloprEnr D€palunen! covemm€nt of Hahardlba. (tErding r shae). ア Sh sam.dhan Kha*ile, oesk Officer, Urban De!€topmat Depadnent, GoEmment or Mahardtra. (tEtding 1 sharc). 8 sha vinayak S Chavan′ Deま mceL urban Development Deprtmenl Maha‐ tra (hO ding l● 81e) 9 staMory AuditoE i M/s. Kait.shchand Jan & co. eu^.a t ft f1-,r 10 sec'et-and Aud,rd! - Al I [email protected]C-\ou*h) &Co ぜ 才 ・ 4´ イ )919CO
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CITY AND INDuSTR:AL DEVELOpMENT CORPORAT10N OFMAHARASHTRA LIM:TED( A Govt of M ah ara shr ra (Jndcrtakinl:)
RECD OFFiCE:“NIRMAL≒ 2“ noor,Nattman PointMumbai-400024E ma卜 cscDddco maharashtra qov hVVebs te cidco maharashtra gov in
CiN:U99999MH1970SCC014574
CIDCO/CSD/43AdJ ACM/2015/2020
To
HEAD OFF:CE:CIDCO Bhavan,CBD BdapurNavI Mumbal-400614Phone i 22-67918123′8564Faxi 22-67918194
23 11 2015
NoUceof Ctyunder :
NOTIQ』
NOTECE‐ ADJOURNED 43d ACMイ FY 20■ 2‐13)
is hereby given that the 43商 (Forけ Third)AdJoumed Annual ceneral MeetlngAnd lndust"a:Development corporauon oF Maharashtra Limited w‖ l be held as
8 sha vinayak S Chavan′ Deま mceL urban Development Deprtmenl GoVemment ofMaha‐ tra (hO ding l● 81e)
9 staMory AuditoE i M/s. Kait.shchand Jan & co. eu^.a t ft f1-,r10 sec'et-and Aud,rd! - Al I [email protected] C-\ou*h) &Co
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OORDI ARY BUSIT{ESS:
To receive and adopt the audited accounts for the year ended on 31s lYarch, 2013
and the Director and Audito/s Report thereon to the Shareholders together with the
comments of the Comptroller & Auditor General of India on the Auditors' Report for the
year ended on 31st March, 2013.
For Oty&Industttal DevelopmentCorporabon oF Maharashtra umited′
l,4umbaiDated: 23.11. 2015
Note: 1. NIGT 11 attached. [Prory Form]
2. A Member entitled to attend and vote is entitled to appoint a Proxy toattend and vote instead of himself and the Proxy need not be memberof the Company. A Blank Proxy from is enclosed which, if used, shouldbe deposited with the Company, duly executed, not later than ,18 hours
before @mmencement of the Annual General Meeting.
copy fomarded to:l ShH SanJay Bhaua′ IAS′ VC&ME2 Smt V Radha′ IAS,]t MD′ CID03 Shtt RaJendra Chavan′ IAS′ Jt Mant
4 ShriU P S Madan′ IAS′ Comm ss ol5 0「 N un Kareeら IAS′ PS(UD l),U6 Smt Manieesha Patankar‐ Mhaisk7 Shl TanaJi Satre′ IAS′ Div siona CI
E-nlailld:Signdturc: .. ...... ..., or iailin8 hirn
E mail Itlr
Signaturc:...... ......* -17o,' p"^v tu attend and votc (rn a Poll) for nlc/trs .nd on ny/ourbehalf at the -"" "" i\nnQlg.""ijr -"iti"gl Iixtraorditrary generalmeting oi the.onrPanv, k) be hcld on-thc. ' ' ' dav ofAt ' '
L,..7p.n' "t .1... .. .... tproi"t and at any a(liotrrn'n.nt thcr(tf ii resP{t ofsuch resolutions as are
1
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3
Siglled this day of 20
Signature olshireholtterSignature of Prory hol(tcr(s)
N;tcr This roln of proxy in ordcr to be cffe(tivc should be dulv 'omPleted
and-d€Positcd at thc
Registered Offi.e of the dompany, not less than 48 hours before tlre comnrencement of the Meetin8
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D:RECTORS'REPORT
FOR THE sHAREHoLDERS FOR THE YEAR ENOED 31sr March,2013
Your Direclo6 have rmmense pleasure in presenting the 43rt Annual Report on the
operalions and achievements of the Corporatron, together with Audited Accounts for
the year ended 31': March 20'13
You will be happy to know that your Company continues to maintain its position as
lndia s PremrerTown Plannrng and Development Authority.
We feel proud to menlron that the Natronal Geographic Channel has rated the Navi
Mumbai City as one ol the 6 Super Cities oI the world and as per the Channel, Navi
Mumbai has the unique dlstinction of being lndia's only well planned city in terms oi
inftastructure- construction development and transport
Our Corporation has been appoinled as a 'New Town Oevelopment Authority" for
developing the "Navi Mu.nbai Area" u/s 113 (3A) oflhe Maharashka Regional and
Town Planning Act of 1966, (i.e. MRTP Act), and as "Special Planning Authoriiy'for
other notmed arsas u/s 40 (1) (b) read with section 113( 3A) of MRTP Act, for
carrying out iis activities as 'New Town Development Authoritv' and "Special
Plannrng Authority" as per the provision ol section 113 (3A) and 40 (1) (b) read with
section 113 (3A) and various Government Resolutions (GR's) and Notification issued
by the Government of Maharashtra as an agent of the State Government.
Navr Mumbai Project is being developed by CIDCO lor and on behall ol the
Governrnent of Maharashtra vide its resolution No. (G.R.No.) IDL 5770/lND I dated
Surplus (Oeiciu after lnieresl Depaeciation & lncometax
Aard: B€lance brought fort rard from last year
Balance Car,ied to Batance Sheet
5
0
5
0
0
5
207
一〇
〇
6
0
0
5
202
212 207
(
)
The Enandal p€atorman@ as stated above reveals lhat after meeting all expens€s, theRevenue Account shorys a net surplus ol Rs.5 takh for the year.
l: g**flon: ncome was exempl lrom payment of tncome Tax pursuant to theprovrsrclrs ot sjection '10(20A) ol he lncome Tax Acl, 196j. This Section has been withdrawflDy lne trnance Act,2002. thereby subjecting the income of the Corporation lo be taxed underthe provisions of the ln@me Tax Act.
The |TAT, Mumbai Bench .c.vide order in tTA No. 29BgM/2012 daied 08/08/2012 for lheAssessment Y6ar 2005-07 and The ITAT, I\rumbai vide orO"i,n ffn f.fo. -+alAlqfZg
g43E3/Mum/2!13. dated 18t12J20i4 fot the Assessment year 2OO3-04, ZOOa-OS a'ZbOS,OOl3l:-,!:ld lal li.r.e C9?gration being an agent of the covernmenr or lliaharashrra unc,er heg:lt:i.:t s€cton 113.(3A) and sec0on 40 (1) (b) read wiih secrion jt3 (3A) of iheManarasdra Regional and Tovrn planning Act 1966 is hable to lncome Tax onty in respeci ot
^gency Remuneration received from the Government of Maharashlra aner'deduction. ofexpanses IncuBed forthe purpose of earning such tncome.
The iTAT ttrther held that
l There s no business aclvity of Corporalon On ils Own
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撫器覧ぶ『躍ィ,t殿『 1:滞哄瑞鵠:ntth:『 :nfan agent Ofthe Government ort1le、 Иaharashtra
ln view of this, no provrsion has been made towerds lncome Tax for ihe year on the surptugl^
t'j:: I:yl" srmrariy' -o provrs.cr has oeer naoe on re surptLs or (avr Murbar p.crectd-5- r!:e (orporaaon is ?ctrng as;n Agent or ihe Governmenr of Maharashlr6 The edirrerecelpls have been credtted to the prore.r Account as recovery oi cost anair. n"t ireateq
"srevenue in the Boo(s of Acco.ints o, rh; Co.ooranon
are on behall of
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CAP]TAL
Sin@ the lasr Annual Generat M6eting, the capital structure of the CorpoEtion remaineduncnang€d standing at Rs 3,95.00,000 divUed into 3,95,000 Equity Shares ot Rs. 1OO eachtuXy pai, up.
INVESTf,ENTS
Long brm inv€stnent in Equity Shares amounting to Rs. gO0 Lakh and Rs. 5OO Lakh wasmaoo Ou,lng tie yea. 2003-0,1 in t s. Mumbai_JNpT port Road Company Lrd. and l\4,/s.
ll"JFlTIElry, P:y9rolm9!r 99 Ltd., respectively. rurtrer, an amolnr 6r i". zoozqse:-:jn_:11!:el iryesred rn Equity Shares of M/s. Navi Mumbai Speciat Economic Zone pvi.
-Lto. uI2012-13. During lhe year 200+10 Corporation made invesiment of Rs. 2.OO takh, Fs.40o bth and Rs.2.55 takh in VRSCCL. BRSCCL *O l,tirrit"ra.m C",p"iat,i" t-tO.Respeclively.
As F. the-Fovisions cmtained in the Artictes of Associa6on of he Corporation, the loltowinglrtre-the Oirectors on the Board of the co.porarion ouring hi yiar ior':-[ ii "ppoirt"o
uvthe Govt oI Maharashua ftom time to time. Non" or tt" Oir.""toi" i"qri,"i ,*irg [ii;Lti""DIRECTOR'S ATTENDANCE
Ouring- the Year 2012-2013, Fourteen (14) Board Meetings were hetd. The detaits of theBoard Meelings attended by the Directors dunng the year 2O-t2-2013 are a. ,ra"i- -
D:REC70RS
L
0
S
N
Name otEiEEor- Period of eppotntmem- M6atings
Attended
Me6tings
HeldFronr To
1 Shn Pramod Hinourao 29-03-2011 Onwards 3^ 14
2 shn T v satre 25‐03-2010 22-05‐2013 12 143 Shn T. C. Benjamjn 06-06‐2007 08116‐ 2012 2 44. Shl M K Shnvas● va 27-06‐2000 Onwards 10 145. shn s s sandhu 04-04‐2008 180812012 2 26 Shl V S Nahata 09Ю8‐2012 31‐052013 4 117 Shn L Radhaklshnan 23-42‐ 2010 13‐ 05‐2013 0 14 )
The Board rs pieased to ptace on.ecord the valuablementioned Orrectors tn rnanagement oi lhe CorDoraiion
guidance recerved from the abqve-
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REViEW OF OPERAT10NS
NAVI XU EAI PROJECT
UtiE tE F, ue tEt€ 6 .-".", t s.d€d [+ dr qddirrs b med iEee*E dsrEd br oJr hoGes ardrwEqqrsEeslFtsdxfi deq*grudrhitrdrItrBHi,s
RECEPTS
The tnancial year fumed in yet another buoyant revenue performance, due to etfectivemarkeling strategy, brand iDage enhancemsnt and further advances in reslructunng of therevenue co{lection processes. qOCO tE cor huc.6ty nEinEh€d its EynFo dHer gort! in tsrrE deFqrrE m.a4 &\,EbprEf pqE6 ad rEvEnE geng.dir 6 cqdd be u,hessed fsn UE
Oqlilrg the financial year, maftedng reven.Je was Rs.1567.j1 crore as against the budgettergat o, Rs2142.89 crorB, establishing 73_25% performance. Totat marketing collection onaeount of sare oI plots, construclrd apa,tments and shops was to he tune ot Rs. 1561.51Crore and Rs. 5.60 Crore respectiv€ly.
LOANS
WIth recou.se to selt- financing housing schemes, we have brought down our borrowings tolhe bare minrmum during the last five years. Ouring the year under review, Corporation didnot draw any term toan from banks o, fnancial institutions.
LOANS OUTSTANDING
yJe have been fairly successfut in rcducing the commiled liabtrty of the Ccrporalion onac@unt of repayment of debts and the corresponding interest burcien. lt may be noted lhatUe total outstanding bonowing of the Corporation that was Rs.129O crore as on 3j, March2000 is reduced b Rs. 1E.88 crore as on 3.t _03.20i 3. This evinc6s that we have repaict debtsto the fune ol Rs. 1271.12 c.rore during lhis peflod.
The year-wise outstanding loan balence since March 2OOO are su,nmarized below:
Sevaral cost effective mBasures were adopted on the expendrture front. Our prudqntand Gsponsible approach has broughi a sea-change in the funclional areas andresulted in substantial improvemenl in the financial perlormance of the Corporatiqn.Total capital expenditure incurred dudng the year was of the order of ns. gZa-ZScrorc. We ha\re crsated infEstuctural assets in Ghansoli, Kharghar, Kamothe, UIW€and Nq Panvel that will p.ovids better revenues in the next ive yBars. We havemanaged all ou, operations wihout additional bonowing. A special t-hrust is given todevelofment of ir rastructure in 12.5% Scheme area to-faciliiate clearing oi Lacnogin allotnent of '12.5% ptots.
Adodir of econdnic measures is reso €d to, wherever possibte, for the judicious conlrolcf tE_eloendihre boft on_ caftiEt and revenue to"f ff,i" n"f L"rftlJ in signinc?nfmprot erE rt in frErcjal perlbmance of tE Corporation during he last 6 years.
l: --lf:TitYe,l-rsd dudng the year r^,as of the order o, Rs.125O crore asagansi the Budget Taeet of Rs. 3.156 Crore. CTDCO has att atong mahiain;o strictconlror over the expendature ort administration guch as printing, dr"tionu*, v"ni"r"Running Enpenses and other adminrstrltive "rp"n""".
rt'a i""-,""ii,"d ,nrosubslantial rEduction in over a administrative expenOltuie oi iie C"rp.,"iO" o*.gthe last yedr.
Hon'ble High Courfs grdels in respect of conservation and,eiuvenaflon ofangrovcs
ln the Writ Petition No. 3246 ol 2OM fited by the Bombay Environmental Actionf.:TlL11gl "T. "rh_-6
ror prorection of mansroves, HJ.lr" ijigi'c;i, ," ,h":11":p::::o on 6rh ocrober 200s, inrer atia, ha; directed t ri t
"i" ,n"rr'1" tourrreeze on the destrudion and drnind of mangroves "na
,"g"diu." j o*;,";"nip ofland. att constuction tating place witiin 50 m"t"," on "ti"ioi"
oi Ji.""nr"r". "0",,
be fodtftrith stopped. The Chief secretary, _c,
overnment of uattaiasfr*i""oro,ngfydirec*ed €[ Municipal bodies, induding C|OCO, fo. "".prfor" i.-pf"m"i i"i o, ,n"Hon'He High court orders. tmotemeriation
"r ir,."" ori"r" "ir"i";l;;"il; ,"",of th€ det/elopment works, that were rn progress during lhe year 2OO8O9 and.assucfi io further progress could be made in execution of those works
Ihe Government of MaharashLa has. appojnted CTDCO as the ,New Tqrvn
H;sff ll"i#"dfl ;",H"1:1",:fl:ilr;;1";;;";',:i"'iiilon.,"C^IDCO approached Hon,ble Court to seek permission to c€rry out these works andremove the mangroves wherever felt as necessary from the technical requtrement,s?9lnl.,9f vrew, Hon bte High Coun approved zZ't"r. oi ti.," r"it" "Jn"r,"l"nMcond(ions but for the others finat aoorovai a;;-"",-," ;:-;-::,.:-l: .:"]Y -T1
.AurnonlEs. . . /at are yet to be recetved from the Competpnt
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PHYSICAL REV:EW
l HOuSiNC SECTOR
Sa:00,HOuses
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魃 ボ山 24653
3623034423261061636692
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123640
ln additiri to ttese hous€s, atout g6E nrnc. or houses ror lr6Jf";r;;;:|:.:: l*ses.ror E\',s catesorv. abour 2622
or houses ro. HrG ca.s;;;-";;';**i#:TJT#'f":"jrr:1":J::1".#::are und€r constructjon- Oelails of housing proJects are elaborated below:
al Seawoods phas6,ll Schome in Se9tor 54, 56 & 58 (part) at N.rulThe demand regisFaton ,or this h,n-r" o.u, eia-
-n;;":;;::t]"s scheme $ras c4,ied oul ro. Higher
u,'*n"""0,Jil;i:'"*"#'":Hi:.",1lll:IilljiT:;ilfi i":,"1;;apart nenb having builtrp areas rar
c'o;ect rr"s arriJJliiuii ffi";']n'n' o"t*"en 1275 sq rt to 2760 sq.rl The
modem security and comrrn,"",,on llni^T"0. "levators landscaped gardens
or, "r,o"n" "ondnil;;:E.-
svsrem and piped gas supplv, etc The workero;eo rto. at ure otar".;;.:;:':"^::i:ed to M/s' rvRcL rnrrastructure E
b) tuass Housing Schem€ in Sector_16 A 17 at Kha.gharCTOCO has undertraken mass housinunder g scheme jn sector-16 & 17, Kharghar as
Sr. Type~`
満 ξ ¬ 6斎 Tnti JttrettI一三 面
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_TOTAL_ iソ:
(H-1 (5+4)(H.2 {S+4)l(H.3 (5+7)
KH-4 (S,7)
28o5
40,2
56 62
95 7,
1750281
20,5008
26951 12
50,6!128
_迦字
624
512
476
532
2144
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The contract lor KH-.t E KH-2 type tenements ls awarded to M/s. B G ShirkeCIP-L_ Ior-Rs.5693.24 lakh at Rs 1376/sq.ft. of B.U.area ,"d". B-RX;;;;ot.l5/l t2007 based on lhe conbactor,s own design with prefab.icaled structuralektnents. On-site & off-sib devetopment works for KH-1 & KH_2 tvDe tenemenisamountng to Rs.401.39 Lakh and Rs 90.43 L"*n fo. ,"o"in",,oi *on" i" li"oawa.ded b M,rs. B.G. Shirk€ CTPL.
_Ihe co.lu'act to,I KH.3 E KH-a type tenements ha9 also been awarded to M/s.
B.G-. Shirke CTPL for Rs.i2202..18 takh on weighted average rate of Rs.llS5 perSq.t of bufi up area vide B.R No.9Z7O dtd.1Ut2l2007 for Rs.t22.03 crore. On.site development works of Rs.997.04 Lakh for KH_l & KH]V type tenem;and off-site development works of Rs.3gO.73 takh for Ihe KH_IV in "u"tor-fi
iaabo awarded to the sarn6 agency
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Navl ltlumbai Urhan Haat
CIDCO Urban Haat is situaled on lhe ht o(seciotr ll cBD *";;;;;';; ;" ; f) ;r# ::: ff,:,,Jjx:H"Jj:1'TJwithin the urban Haat is 5675 E_ Mt. and 4295 Sq_ ,espectire-1y.
-- - .- . -.-- q,e!
There are five (5) clusters each havho ten tlol crar.r.< /r^, v.^eacr slar) a ;;;,;";il']}:1,ert
(10) stakks (10'X2o = 2oo sq I areas ot
onnr,ne *,t",. ro,nt",-n;;ffi ; #,j,::1 flfr :ll:i::ij11 j:i:5":, J::urban Haai provides 24 x 7 suppty of bou wate, "no
:3 "ora"l* many peopte ,rom al parts or lno,". m"inlnuni-"; ;;; ,'ffi";;Uftan Haal is around Rs.l(m Lacs.
Irov€topment of plots by M/s. NMSEZ
Il:-Tr:"l lUs.Navi i,lurnbai SEZ pvt. Lrd has been teaseJ 1842uronagn, Kalamboli. & Ulwe Nodes The work ts in progress. Howeverhas ,ailed to achieve $e stpulated Developmentat Milestones.
Consequenl upon the declaratron of IVahara'PP'osched crDco ond
"^rr""."0 ,n", o"lll'.1 lndusrra oolcv' 2003, the co'npanv
,re to take benetrt of rhe new potrcy, whrch
Fovdes Exlt route for non-operatjng SEZ s in lltaharashtra and get the SEZ denoqfiedand convert it into'lntegrated lndusuiat Area (llA),as per the pohcy provision GoM isrequested for necessary directives in lhe matter. ir./s CRISIL were appointed to sludyand advise on l,.ay iorlxlad to CIOCO on proposed switchover lrom SEZ to llA.
4) Allotment of tand und.r i2.O% Schsme
Developmeht of physicat inft,astructure fo. the tand €amarked lor 12.5% scheme andspeedy allounent hereof b pAps is given top priority. So lar, CIOCO has aliotted landadn€8su.ing 755.32 Ha b project Affected persons upto Ma.ch 20.13, major portron o,0lat th.ough computer draw. This has benefited around 36117 Beneficiaries. Ouring theyear 2012-13, CIOCO has alotted ptots tota y admeasunng 35.46 Ha of area. Thea[otrnent procedure was sinplihed during t}le yeat 2012_13 The area-wise bookletsrrere prepared, giving hyout ptan3 and site to be allotted to each pAp after drawat otlots lnf-asuucture facilities qlat are provided to area allotted under 12.S% schemEareat par with the nodal inft'asfu.t e. tnfrastructure Devetopmenf Cha€es @ Rs. 1(,oOper Sq.n. are being cha.ged to the ptot owners io, upgiading the infGstructure. iofatexpendituae incun?d on infraslrucfure wo.ks lor area under 12.59; Scheme. during theyear. was Rs. 125.29 cro{e.
4
2
3
6
5
0
1
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SALE OF UNSOLD CoMMERCiAL PREMIsES
Shops and omce Blocks at Ranway statiOns
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5) sOda:Fadhty Plots
Most of reputed and reflowned educaLional lnstifutions have been allofled plots tn NaviMumbai. Upto lr,larch 20,|3, CIDCO has aflonsed S41 ptots ro various institutions trkeeducational lnstiMions, religious. socialwelfare purposes, etc During the year 2012_13, CIDCO has allotted 30 ptots to various socjat facitities uses & area a otted is 41968Sq. Mtr. ln varicus nodes jn Navi Mumbai. The detaits ot the ptots a otted durjng theyeat 2012-13 is given as bglow and totat revenue eamed from this altotment wasRs'37.06 Crores.
SL N● us● ●f PI.●
l Hostel
・2 sOcbl Facliles
3 EducatiOnal
4 P。 lce Dept
5 RengiOus
Total
TOtal Number of PI● ts
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income generarion and arciflary activities rn these commerciar conprexes. The reviseo
1!*n. *,lc, has brought in gooc, resutts and number of -iofa p."-i""" [i"disposed lhe Corporation, during the year has atso tried to find out the meanl bdi6pGe remaining unsold prernis€s and a deqsion was taken to 0|."",0"-,if,p ",Sanpada Station Comptex whicn woutd hetp m disposing the ,nsoio p,emisei at
second and hird f,oor. Eio.ts are constan y made to dispos; the unsold pr"ria"". - -
ylr.I", f:.:.Tr" has been an impressive economic growth and the rares haveDeen nfi€d to get the marimum revenue rn tune wdh the rllarket. On revenue tront, tteCorpdation has realized r6venue ol Rs O.iJuiragar. Nerul and llp- vashi
'2 crore for station complexes at sanpida'
Nodal lhtrastructurg
t}ldnS Ulo ye€r th€ Co.porati@ has incured an expenditure ol Rs_ 263.39 crorr€riot s infi'astrucfu,e nodes as summaazed bel )w:
SL No Nodo TO●lE,penditure
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4
‘0
6
9
11
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Ikffi [Hr,]!ffi sSHiilii",ilil!il"J?I"#iifi ,fl""?"#i]:,ndep€niientWb harG contibubd tle capitat cost of Rs 47 crores (Being the proportionab cost forffi #Jffi
珊 情瀞審誓暫|[爆lil;I爆]|』潟il務i磐請i::Tlre totat pay6e61 626e to KIDC by ctDCOas bebw iυし。yC'pcO under he direren heaos ml da峰
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CIDCO has taken up ihe work ol RoB near Katambolr Warehousing Comptex lnisROB w sstablish connectivity lo the proposed SEZ and also shalt be the seqondec€ss b fl6 Taloia tndustsiat area. The estimated cost of the ROB is Rs. 59.1O Crqres.Thb ROB will replaca tte €xisting levet crossing gate no. 14 at KM61,tl O-1 i _
RAILWAY PROJECTS
The subub€n nEBs Fansit commuter rait system is designed as integrated raatwaystalioDqtm-comhercial comptexes. The comprehensive R;ilway NeMo;k devised byCIOCO ,or Navi Mumbai co{np.ises of six Rail Conidors. liese are unfiue naitP(iecG in lndia. where 67% of lhe cost is sharoO Uy CTOCO ana SSZ Oy AaitJay+
al Thane.Turbhe-Vashi.llerul Rail Corridorprojgct
Th€ fiIst phse i.e. TharF. Vashi was commissioned on Og,l 1.2OO,t wiUr tour sta{onsnalrtdy Aleli charlsof, Koparkhaime E Tu6he. The rvarl of second phasg i.e. Tuibhe- Nen-d was compl€ted on 09.01.2009. The Rabale station was commissioned in 2009.Thelotal prqe{i co6t as originally approved and in pRs is Rs. 403.39 c.ores agreed tobe shared in 67:33 ,atio botween.CtDco & Central Raitway respectively for frJ prolecto, Thane - Turbhe.Nerut-Vashi Raityay project (TTNV) ioniOor. funner rte prqectcosl is revised to Rs. 574.36 crores. (C|OCO Share _ Rs.3M.82 Crores & C RaitwayShaIe - Rs 189 54 CDres) as per approvat of Board vide resolution no. 10933 dated28.11.2()13. The Totat erponditure of CTOCO share upto March 2013 is Rs 2909A.Caores_
bl BoLpur+anvel Doubte Line prqect
Belapur-Panvel doubte line \ras commissloned on 14.04.2000 with bare mintmumfacdilies. Then after. he work ofdevelopment of Kharghar, panvel & Khancleshwar.wastaken up. lhe devetognent wo of Kharghar reiL/ay Station r"" iornJ"no *1206.20Ot, l$andeshwar raih/ay station was compteted with on Dec.ZooO'i panvelraiirrsy station was compteted on 30.092007. on 28.07 2oog M"r"",;;"; ,;;;;sEdon y.s conmissioned with bare minimum facitties_ pan devetopmenr
"if"riq.;arEa is completed panvel. Khandeshwar & Mansa.ovar railway stiatron. Th"; ;p-G;prwlebn oJ Rs.279.53 crores agreed to be shared in 67.33 rario betw"uicrocoi"nJrrarU:ay respeatNety ior the projoct of Belapur _ panvet ctoubte line. Therp isexponditure of Rs. 159.40 Crore for the ty.2012-13 anO totat i*peiOitu,e ot ns.285.04 c.ores upto March 2Oi3 on this project.
c)Ne l€olapur-Uran Cornmute. Rallway LlneThe construction lvork on this line connecting Nerulwith Uran akeady been ta(en upThe toiat revised project cost rs Rs 1Bt4.4B Crores and ( is sharing by CfOCO anairffP (Railways) in 6? 33 propo.tion which works olt to Rs.121S 70 Crores andr Rs.598.78 Crores respectively The expendrlure incurred by CIDCO & MTp (Rail,lays)togelherup to 31 3.2013is Rs230.69 Crores. Expenditure of Rs 158.44 crores andRs.72.25 Crores have oeen incufted by CTOCO and I\,tTp Rsrtu,ays durins 2012.2013respectivery. The iotarc€sh deposr.d bv croco upto Ararch 2013 is Rs 58.20 crore.
? 131
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dl
The■●rk Olぃ、∞市dor was a shnd ЫⅢ due o nOn‐ acquに
“
。n of bnd and qhe「problens cIDCO has ctlrn口
eled Construc」 on Or2 ROBs at D子 Onagin a seaw∞ ds andomer mrk Ofbalance tt ROos near MsE日
(GTPS)Dronagin and near uran RalwayS●lon are m prOgress¬ ere L budgel pro゛●On o′ Rs 2000 Lcs fOr hese¨ ROB.s10r2015‐ 16C10co has anfded"rk Of∞
nsmc10n Or sea■ OOd stauOn 10 L&T Lidunder Megac● PrOled and Phase― l wOrk is lkdy tO be com口 ●led by March 2016Thc ls budget provlsIOn Or Rs15∞
lacs in ule yOar 201415 for∞ nsШ面¨ 。1S― ds Rahay slabon ki鋼er propOsed lo cOnstrucl fOur ralway sla‖
ons vi2Sagamngam.Targhan B.mandongan and Kharkopar under nist phase The award Or
workヽ cOrn口 eted There is budget provisiOn Of Rs 5 0o lacs fOr ule year 2015‐16 fo「
OonsulLncy wOrk Orthese statiOns
~OOdO R」 晩 y stauOn
910
t$eko proiccts
N.vl Xumbal otro R.il prolect:
ffir;'JB:"frt* rs implementins ih6 Navi Mumbai Metro Rair project in Navi Mumbai
a2l Strtions Woft (il Nos.l: Awarded in Two packages having totat Cont act Cott ofRs. 321 Crs.
Agency - The Consortjum of San ose-Irahavir_ SupremeSlatus- Th6 riork iB in D{oor6ss.ll Orpot Clvll Wo.ll. .t ial-oJr: The awa.ded vatue of wo* is Rs. 1 32 Crs.A!enc]t. llE Consortium oit /s. J.Kumar -CRTGSbhIs- The vuork is in Drooress_a, sy3t ma Work Rail sv;iems .l"$ffi
;rur-r#i.r##ffi$ff :fr *"[if JI*itrifitSbtus- The financial tids rrf the lechnrcally substantive bids were opened on24.01.2014. The towest bid is submitted tv l"r"Ci Co"""Am i"l,iollor'tr, orAnsardo srs spA _ csR z*,rr,o, r_*6.oti,itfiil iili; Ii.i p,oj"",.Limiw. The rropGat for *"d,ol.*ot nas approved.vi# e.ti..il-o. j,i(ios qrt"o26rc2/2014. The pIoces.s of award of wgrk is in p[gresg.
. --
q Oporation an,t Ualnte'|arlc. :Foa Operation and Maialtenance o, he Metro it is proposed lo form a Special purpos€Vehide (Sp\4 in due couGe of time.
Ftrancial proposelg:
Linc.l: Belapur to pendharThe Revised prc,ied Co6l is Rs.2i11 51 Crores
Line.2: Khandeshwa, tro Taloia MIDCAs per DpR the Esbmated proJect Cost wi be Rs.15O9 OO Crores
lo iune 2oo5' rhe varidation perrod otJ yeals penod i.e. up to June 2OO8
Again in continuacon, the cedificatrcwas g.a.red certincario" *.;;;;;il,T;r;1'jiJ:: :.j:: :3?l
roos and c{Dco
t{ow ma;ntaining the continuitv of certrtication, the recertilicatron under ISO 9OO12OO8|s granted to Ehg:neering Departmenr- Mass Horo"n ,.i"". _i"i. t "# ;;i" ,*
b) T,aining to Ehginee6 6, cenerat Stat,As part of conhnuing impiovement in efttcrency c,f engrneerng stafl. we depute ourengrneers (o orrf€renr wo.kshcps/ sem,nars/;;,;" :,:^::._:: -':1r.
The Corporation is consiandy involved In lmplemgnling innovations and technologidal
advancem€nt to improve its working syBtqm, upgrade knowledge and skills of the
Engineering and achieve thg economy in cost at both design and execution stage' Tho
m€a$fes propos€d during cunent financial year alg a5 follows:-
r) Struc-tlral Doslgn
We have pu.chased 2 Softvrares - STAAO RCDC and STMD Planwin in additionito
the existing STMO Pro and STMD Foundatjon Softwares. We are using lhese
sot\ ares for strucfuraland vanous type of structures.
Dosign Circle have conducted 5 days Faining programme in Basic Analysis & Oesign
Structure by Prol V. L. ShEh. We have conducted.4 dayg training program in STAADPro SoRrIarg fu. Uta Design Engineers.
b) lnfraltruclurcDeslgn
For Hydraulic des(ln of storm drains channels, we are using Bentley Soft\,vare.
Even though the revised design norms for slorm water disposal system was preparecl
and proof checked by llT, we have decded to adopt the earlier norms (NATU
Committee Repon) which is on saf€r side.
c) Wetersupply t Seworago Oesign6
For water supply ll sewerage DesErs we are using Bently Software by customizrng the needas per norms E CPHEEO Manuals.
ISO 9OO2 Cartification
CIOCO s Railway Project Oepanment has been able to get tSO 9OO2 Certificatrcn. Wehave alsc been abte to obtain of tSO 9OO1-2OOO Cenification lor Mass HorisingProjects. The coniractors are also encouraged to have ISO certification and two ofourconbactoE have received the ISO cartification.
;
cultural Events I
iln order tQ give 'Cultural Face' to the city of Navi l\rumbai as also to enhance the brand rrhageol CIOCO as'Ctiltural Carelake/. cultural events are organized by the Corporation sincd tastfouryeac I
Annual Social Cathering
Annual Social Gathering of the Corporation was celebraled during the yeir tofacilitate platform for employees, otficers of the Corporation and th;ir fa;iti+s toshowcase their talents tn diverse fields of sports and cultural activities lt pro{idedopportun y to employees and officers to come togeiher, share therr rdeas andexchange thei. vrews
91(
αHighlights ot CIDCO Navi Mumbai Fsstivals
CIDCO for the two consecutive years 2OOB-09 and 2OO9-10 had. successfullyorgEnised Navi Mumbai Festival which had got a huge response kom the peopte.Navi MumbaikaG ac{ivety participated throughout Ge festival and w6r€ hiohtymesmerized. The festival was pleasing not only for Navi Mumbaikars but abJforMumbaika,s Many school and collegg students from Mumbai and Navi Mumbaiactively involvo themselves in the festival.
I". t"P"l wes apptauded by many noteworthy and renowned personalities. TheFesuval was an attraction to th€ NGOS and Social Organisations too. Many sQcialoEanisatjons have participated and admired the festi;al. l\rany social ir.l,"
"noau.al€ness campaigns have baen oroanised which gained attention of many peopte.CIDCO Navi ttumbai Festivat is i truge ptatform for the aspiring youths forshorcasing their s*ils snd tatents. The-Navi Mumbai F.Jr"t-; ;t iJo ,e"*:rltu.rdl rosranmes and grand musicat shows but a r"r",v "ilrr.ii
j"., .i",i.e\€ntB. dmic dances, educational r,vorkshop" "no ""rin.rsioi
Jra.Irf-" "i"lOn the same lines. to promote the cultural activities and brng whole NaviMumbaika6 together and to showcase unity, NMMC (Navi Mumlai MrJniqpalcoeorauon) also organises various festivaf" "no "f,ow"
to iighi,gii iia ii"iirro,ti""a-nd,culturat of the c y. By organising these festivals. we try 6 pr"."r" ii" *f,lra<rrtion and cutture. cIDCO has atways been a care taker of irld;;;;;;;." *has developed many centers to keep the tradition intact. - --.---*"*'
CIDCO has buitt special places for social gathering in different nodes ot NaviMumbai. CIDCO Urban Haat at Belapur, is one cf the place wherein culturalproglams and exhib[ions take ptace throughout tfre year. fi n""-'i" "rr",or.amphtthealre wherein one
"an ea"ji, o,
Tt e amptritrearre il a;;.;;;#:"1g""ise shows and events on regular intervals
lly-l,:**r".ooffi I*;JH,""":l"j'""llilil!Ti;i"Bl:,:?,;,"111renowned place that CIDCO has buitt is rhe C"ntr"r ei f
"t XiiAI.,", *,jn"," "",equrpped with water spods. cricket & Football grounds, Sp"n. iiri.lo.oi,li*"r.
匙肥:T器鮮ねken up new Mass HouЫ ng ttheme■nsmO● 6 and 17 The
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New Mass Housing scheme,`uNNATI(uL‐1こ uLJI TYPE)'in SectOr 19A at uiwe
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敵4. PHYSICAL PROGRESS
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6. PRESENT sTATuS
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Navl Uumbai lntorn.tionat Airport (NMIA) pROJECT
1.9 FAC.KGROUNO: MuEbai being the financiat and commerciat Capitat of tndia, requiresavislio facilities of the hohest o.d6r. presan{y Mumbai airport is handting about 30 l\tppAlM ior'i Passengers perArrnum) and is experiendng severe consbainls in "-rgr"ntin;
thu "ir,la[d and city sire facjmbs b meet the tutuie orowth r. r-,.r n--.",r r^.i,.;; -'-
rapidry and the rorecas,"d .i. ;; r; ";;".,:;f;JjJf."lff TJlfl iffi "f;Tl:this anticiFat6d air bavd demand. the Ministry ot Civit Aviation 1MoCll gniteO ,in prinopte,app.oval br [le developm€nt of a Greenlietd airpon at Navi VrrU"i]fr,e l"ri'tuturuaiAirpon.is prop6s"6 1o 6. devetoped through pubtic-privale participation (rr"iO, ."n,"n-r,
"Sp€.jalPurpose Company (SpC) with equity contnbution lrom CIOCO
3o4PPROVALS: Major project approvats/ctearances,_namety from Mnistry of Cjvil Avration,
il:.T_1.= *araoc€ rrom uoer. oerence cilara# ";;
;;;:'"; ;;i;" .,r"S●9e l Fon 3earance and Ⅷ 旧l陽 αeannce have b● en ob●ined Recen」 ソH。1'Ы eMunba H19h cOu"has p―
ted ule dearance or mangrOves h me Aけ pOn area
■O PRQjECT DETA疇:
3 1 Loca●On:The prOpOsed AirpOrtis situated Or Naronai Highway No 48 nea「Panvel inhe geOg"hlcal Centre Of Navi Mumbai and at a distance o,apprOx 35 km from me existing
驚鮮場経群WIL蝋霧iW鶏路y鼎躙
3 2 Salient Features:The Navi MumbailnternatiOn31 AlrpOrt is Iocated in cOre area Of l160
1nd independent runways 10r simultaneous and
taxiway On either side ofrunways The airreld is
CraFt,ke A380′ B747-8 and cOmples w“ h lcAO)" is expecled 10 caler to lo MPPA n frst
,25 MPPA by 2020 45 MPPA by 2025 andubmate y60 MPPA bソ 2030
癬劉舗端欄]暫∫I礁Ⅶ潔『:liI確認燿:l輝乳[1]V]絆 !:boⅢ 20%Mh Hybnd副
悪蝙識1測構欄淵静淵懇離脚nveshnenttO MMR
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ailoIt business support areas and he development ol otf_site physicat inftastructure rn rgrmsof r@ds, interchanges. utitities etc.
4.1 Land RoquirEmenU Totat prgied area is 226E Ha. Comprising of the Core airpod ar€a, Rt R_sit€s, Mangrove Park, Supponing and anciltary activibes hr the airpon. Out of this, 67jHa. PrNate land to be acquiaed and 25 Ha. Govt. land to be transfened. The core airpon areab be asarded to the Concessonaire is 1160 Ha. of $,hich presendy, 8S3 Ha (74%) is inT=*, 15 Ha (t96) tand bebnging to olher Govt. Departnents is being translerred tocltrco and 292 Ha. (25%r ot private rand is in process of acquisition. Notifications unoerLand Acquisihon A.i hav6 been issued. tt is proposed to acqui.e tand by Consent Award. Thep.oPcsed model for acquisition of private land is to alot developed plot of land in eu ofnonetrary corDpensation in a modem township.pushpak Naga/ being devetoled near theaiapot
A High levsl me€ring betweel| Hon.bte Chi€f Minister, GoM and Ropresentatives of tho Aifporryed At\rcted perso.ls was h€td on i lh Nov 2013 and Land acq;isitj; ,"orl" r*, e" *a R poliry enttd,'Enb prepared by crDco have been disclssed in detair and pAps haveagreed lor he same. Funher steps io carrying out loinl measurements and surveys forvaaious entitlern€nls will be commenced immediately.
4.2 Resettlement & Rehbiltation (R&R): A pretiminary estimate rndicates thatapproximately 3500 househotds wil have to be re_tocated due to airpon project. CIOCO hasprepared the Oraft R&R poticy in tine wilh Central and State GovL poticies anU tras Oeendisorss€d with pAps lnitial work on devejopment ol two R & R sites in ti," ,i*ity of ui,pol.thas commenced
4.3 Shifting ot EHW Lines: EHVT tines belongrng to M/s. Tata power and M/s. TVSETCL arepassing ihrcugh airport area and require shifting. l\tsETCL has carfied out teasiUi j survqy ofoptirhized arignment. The DGCA recentry approved the shifting of EHw rines by overheao,nehod away hom arrport area. MSETCL is submitting detaibd;rojed repon "fong
;itn f"nous€ details and implementration plan will be worked out in consultation with both-the p?wercompanies.
Additional Afiidav( fited at Hon.bte High _Court _ Hearing heto on 29th Oct 2Ot3 andpermission granied to ctoco fo, removai of mangroves frori the airport;;;d;;
,.
4.5 Compllanca of Envhohment & CRZ-clearance _ MoEF; Navt Mumbai Airport projectwas discussed at tu[ renglh by EAc, MoEF and granted rhe Environment and cR.2 crearqnce(EC)in November, 20lO. The EC stiputated various specific conditions for comptiance dqringconsEucton and operahon of Airport. Accordingiy, CIOCO is complying with lhe va4ousconditions of EC at appropriate stages ot proleot.
:':;lla:fl iLjl s o : pri,ne consurtant r\r/s Lou,s Bqrsers'eup. usA (LBG) has revised the Nlasier Flan documents based on oDseryaiions otSteering Committee (SC), tVoCA, Ml and CTOCO Oraft OetaiJed ,rr""r*"0* 1O-OO;1""0
l
? lsc\s
draft Busi.Ess plan have been submitted. Dco,rsufiant which is being examined.
lraft Business plan have been submitted by Prime
iiooA has issued off@ order inrmpremenerion iomi; ;ffi ;",X"": ;:nffi yfl
JT,' ]"3:,# ,Iff ;ili-nnclpat s€creraries from uD. Financ€ E Avhtjon o.ri"i*r, ,o,"iJ'ja'*# o, ",o"o.
Jt SeEreta,y, irocA and Chainnan. Ml€s.representatives froun Gol, as membgrg the termso, reftrencs inctude th€ prepalationdoq'.nE rrs b. finar;;;;;.:1 all proiec't documents including bid E hansactionmarerecommenaati#o-;":Li""lTJ,"!ili;"""":.iT;:.r,il:l"" the b,d process and
Six m€etngs of pMtC have be€n h!oo*r*n ,' r" i.,-o il ffi;::: l]' t:te' expeditine the various pro,ect acrivities.
c€obat c )vt * ,r*n' i-*Iufnl and oth€r bidding documenls for submission ta he
ffi *ffi ffi fl,;jfl*:H$ii*i:Hri:"i,,rjl[il"#Jil'J:'-flffffiTffi i: i::':: :l,e sub comm*tee was presented roapproved. Finat
^to o.rirh*o
"i"llld
!n 2f Nov 2013 and discussed in aeta,t anoapprolrat. -"- -PProved by PMIC has teen submitted to MoCA for
ffi',flH'-Tj[l;'#jit:"l]l.,"fpur - urah rine, rhe station was compr,:redcorHo.. rt is p."*;;;#;:j9* *]' minimum facilities on Mankhurd - Parverexpbna&xl. rh€ seawoods aailway butioffisp#1r,L:r- coriplex bv commQ.ciat
. Oe\relcpmeot of Railway Statton including platforms. Raitway Offces
. Commuter ladlilies like parkng, Rrckshaw Stand elc.. Uevelopment of electic suEstation. 10m wije and 2m in deep RCC :l:,:_ !:*n for high tensron EHV (220 KV) powert anvnlssron hne jn the power @r
wrde road on soulh side 'rdor along the boundary ol the plor towards 30 0
Wft this hckdrop. CIOCO is envon an a'ea of 16.5 Ha wrth , li'il! i?
o:'-"t"P the seawoods Reihrav statronpotentiar aeveropir-eni i, ,i.ol i"I"^'tf 'o'1
de(ROBS on Nsrul - Ur.n Rall corddorCIDCO has pDposed 3 ROgs on N6rul- Uran rarl conidor as foltows.i) At Seawoods at chainage 35\9. The estimated cosl of the same is Rs.3O
crore
ii) Near MSEB - GTPS at Ch.ig8t7.s The eslmaled oOst Ofthe ROB s Rs 39' crole.iii) ttear UIr|n |ailu.ay shtion
ROB b Rs.39 clo.€-at Chainage 21015 The estimated cost of the
l{.vl lumbai N.tuE park (NMNP)NMNP spreads over an area of 2OOO Ha across nodes from Kharghar to Nerul. The!!": "* 1t
conceptuar stase. Bombay r,,iarurar i"try i_"i, i,jilrir i* n"*appointed for studyins ths u*l]=,o or u," ""iJ "rL" ""i''"E oi'J,, ,*r."Mra!t6. phns for NMNps devebpment. BNHS has recenty submitted lheirot servatons on bio diErsltv survey.in N"t
_r" p.*. A.J oith jtl. il;i; gil:
^ Ines, CIOCO p,opc.s b p,Epare a Masbr plan,or t,le NMHP.co.ltat park .t Kharghar
^o",X "rr."ilr"", *li,i, ar*r.amphitheater and insbument parks and o,r,", *"r" j,u"r',o ,ni,"""." Ii"r, 0r"""
The Sector . 23 of Cent!.at parkp"a.,,i,0,",." pr"y-]^"],i,ilff1,t: ;:,liilr;,i#"#;i^T::.:,H:ff ::Food plazas, Toitei gbcks. Ahusp".-i,s
"p"*". ;;;;; ;#:ff".l:i"*,H1 i::l;yJi:::.: ili::::"""I:mposing €nlrance buitdins lvith exrrrulion rrair erl ril';; ;; ;;;::,g"". ,"carer to plying of nonpoltrrting vehicles within th" p"* 5ni prou,"i""" "1""i,.ao
,"0,ror music sFtem, DA system, tjghung system, CCW. AMC ""j L""r".,Vp*,ffi:+; *" toraly computerized t.,ig";on .y"t"i,,ll;;"-,t;"";":i;,""w"n"The Sector 24 & 25 par of CentrEhertErium. conseryatory. ,o* o,i' ""3 font'tts of water bodies' parh ways, vinualpa.king sDace etc
lza' Toilets' miniature fod maps. club house and
l^/brlt ol sng66ce 6Ll,ld;ng is also nwetl as surrounarng r.lii't''s* 'ow con,pleted" The residents of Kharohar node aswqereirds njoying this facility to lhe great extenr iarticutars at
Valley park
ihe parstk hrlls on the East. West ;arouncr 50 hectares tnd Nodh form a valley in SectoGg, spreadrng pver
Valley paik wa5 1n5irgr,a1a6 .. ,,ruay. Natural sources 'n
va ev ,,,I?l-',09u :n ti" o"'asron or wonc Erv,onrnelr
and integraled with road nd$/erk ol Ulwe Ngde. The preparation o, detarled prolectreport is in prog.6ss by iius Frischrhann prabh,J (t) pvt Ltd
1. Techno+conomic Fsaslbflity Study for lnterch.nges at Gavhan phata & Ka.alPhat neer JNPT
Th6 Tecino-Economic Fea6ibility Study for interchangeg at Aamra Ma.O with NH-{Bat Gavhan phaE ard NH-48 with SH_S4 near Karat ihata is being do;e by CTOCOthrolgh-consuttam Thls suldy is deposit wbrk from Mumbai-JNpT iort noj Co. f_to.(MJPRCL). MJPRCL is SpV fomed by NHA|. JNPT with CTOCO The cosl of str.rfy isRs..2'1-96 lakh and s€me is deposited wtth CTDCO by MJPRCL. fiiit ,eports ofstudy is submitted by cdrsultants. MJpRcL has appro;ed for the imptemeiltiqn orinterchanges and turltler approvat by NHAI Board is awatted. if,"
"oaf ofhlercrEnges is Rs.37S crgrE6 and it is proposed b fnat the project throuqh MJPRCLwith appropriato financiat modet ro be detiberared among th; a;t;;*-Jr",
- rrpg",Provisbn fo. the consuudioo of int€rchanges is made uioer ure treao ;Devetoprpent
of TiEnspod hft,€studt rd.
CIOCO Exhibition Cents, Vashi
CIDCO has danned .CIDCO Erhibition Cenfe, for consfucllon in Sector 3OA at Vashi,
:::^!,I-":1"': I:og of art, prestrsious prqect undenaken iv irolo *n,"n "p.oposed as'Green Buitding. c€rtifed by tndian Green AuiBing Co!,ocrt'0cgiJ -wiii
LfeOcriteria. The Exhib'rjon CehEe is targeted at meeting rhe sharfu of qu;tity ;;i;on andbusmoss bcitities in the Mumbai me;opotrtan region, ano worrio atso oein" r*rrli ,."r"for GGerVEco conterences and permanent green awareness gallery.
Sali.na Features ot paolact:
. [1La Ef,rpl cente (approx.2,,s62 sqm.), Bushess Cenr.e lapptox 7.sg7sq.m.), Ancilary Btock (approx. 7go sq.m.) and.F""t g;rn i;;fi.;;d;;:i' The Ejftibition Cente indudes h/o targe^exhrbition ha s (S,OOO sqm. approxi). apubtic hal (2,600 sq.m. approx.) and ; cenr,?t i"rr. ii"'I:Lr"r Er.i"E55,c"rn"lndudes a 7s0 seab Auditorium ent ance foyer,
"onte,"n""-"e-nti",f ,Oii-.i-r, ,o,and a hrge mutfipumos€ hal wiih pantry ra6lriti,. in" n"Jr"rl,
''ei;;"ljilr"rl""u o,administsarion. ptaza and mainlenance offi;es. fo6d ;;d. ;;;: ;;;p"";,;";"rrgspace br socialfuncttons and other amenities
. A Bn:dge coonecting the Exhibiton and Business centers acrbss he road.
. Pa*ing provision for 4SO cars
. Total proJect Cost Rs. 170.49 crores.
Gram Vikas Bhavan:
鵬群f譜‖罫1期値酎驀]∬[
(RD&WCD,Govミ 。「plot alo【 ted to them at
The buldng s G卜 5
?l c1
4rlstorey RCC sbucture wi$ superior specification lor nterior work The buitding has anaudiiorium for the sining cEpacity of SOO persons. The tvinistry has retaineJ CIDCOas Projed iranagement Consultant for the said project and the revised cost uptoMard! 20't 3 6 Rs. i9.36 crores.
Agri Koli Cuttrral Bhavan:
The maiy part of hg land which was originalty owned by Agri & Koh Community, wasacquircd by the Govemment and vested to CIDCO tor dev;pment of Navi Mumbai ttis essentiat to preserve h6 ancient culure ol the Agn and Koli communities as theyhold a sepsrated idertity and theretore it was decided to consrruct a struct,rre roro4anizng their Grltural and other events. _
AgriKoli Sans*rulik Bhavan was compteted on 25.01.201j and the same,wasinaugurated by the Hon.bt6 Chi6f Minister, Govemmgnt of Maharasfrtra me p.qjecf
*J:..i" -22_60 Crorqs. Agri Koti Sanskrutik Bhavan conr ists of 550' #;;Arrolo.run. a 10fl, seats muttipurposa halt on 2d FlooI and a propeed lirge
museum with libra.y fac ities.
The citizens of Mumbai and Navi Mumbai are overwhetmingty looking this venug fortheir q,tturat and other ovents as the Agri Koli sanskrutik dr,ur"n i"'J,i rn"jnoin"oby CIDCO and also it is very much economical.
NEIV TOU'I{ PROJECTS
CIDCO continued its vadous devetopment aclivties in its other New Town projecls atNew Aurangabad, New Nashik, New Nanded, Waluj, l.lagpur, Vas"i-Vir.", Srb-;;;;;and sindhudu.g Headquarter Township at oros. crDco rras so rar constructeo211.'16 tenements at New Aurangabad, 24s69 at New Nashtk, 972 ,"ii.uno u,Wsluj and 7,984 tenements at New Nanded. Out of the totat irr*" *""ir*"d,about 90% are meant for EWS & LtG categories anO were nnancea iy HUJC-O'The New Aurangabad project is nearing completion. The Government has ak€adyapproved the handing ove. of CTOCO SeNicos to Aurangabad Municipaf Corporatronvide G R. No. Aconogsrsg/cR 16sryo to dared 16ioi/2001. , *J*.g ii,n,,hathe Standing Committee of the Aurangabad Municipat Corporation
"S; i; ;;ove. the CIOCO'S Mainlenance seivrces in notified areas. The Boai of Oirectorsvide Resolution No 93gO dated. 10/02/06 appraved the Vansler of "eJ""s
toAjrangabad Munrcipat Corporarion we.f. lst April, 2006 The ar*rn""i ".*"effecl w€s executed betwe6n CIOCO and Aurangabad Municjpat C;rpr;il;; ;";;March, 2006. Atso services were handed over dAuiangabad lt,r",;i;;i;;;p";;;;Fro.n 1 st Apdt. 2006.
RecenIty, as per the directives rssued by the Got4. CIOCO has devetoped the state ofihe art Auditorium on plot No.3, N-5, CIDCO, t,tew A,rr"ngaU"O, "i;l;,;, .d;;approxrmatery Rs.26 crorGs havrno a government grant in ard oi Rs 4 crcres. There
::: y,arlety of performing spaces rangrng ,rom large audrtorjums for cc.,r,"r",", ,,"r",smaller auditoriums ior experirl.ental gror,ps and "or" "roltonr_"
fo-,-".ullt",nlanguage groups. Aurangabad is an integral part cf tts tral liofl a^O C|E)CO nr"proposed a state_of-the-art auditorium as an attempt to keep this tradilion uur". ,
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Q(3The auditorium is buitt on a hrge plot of 7g32 sq.mt. and having built up area of 5342sq.mt with a.apqcity to house over 12OO viewers in two ti€rs. tt has a mutti purposeha' with a capacity of 250 peopres. rt arso has a huge exhruiton area it sro sq.mt.and a free sbnding grand sEircas€. The cBntraily;ir conditaoned audrtodum Snattboast o, state-ol-the-ad acoustiqr and tightrng facilities. The contemporary eEvationof the audibrium is decorated with gtass cunain watrs ano cranite i,;ctJiiing. gncecompleted tlis auditodum is erpected b be a maJor hub for various thear.e andoftrl-at adivities in 8nd arqund the city otAurang.O"i. n.
"roitonrii",l,"o o""ninauguiated at th6 ausptciorrs hand of the c.M.:Gofrr, o" Zrii iooa "no
-,f,"
""ruhas atso b€sn opGned to the residents of the tow""hip fo, ,;ior; ;;:-r;"".RESTRUCTURING OF WALUJ PROJECT
Recenuy CTDCO focus€d on restructurlng the project by including only the polentala.ea oearby growth cehtre by ,oo% hnd acquisition m;hod, t ","iy
,art iar,ng r,"proiecN area to a ,rery tindbd size. h this trght, "
OemanA straflr"it ir"rnng ,,q" ,"visuatized and ttle same wil r. """i"0
ort a*hg rJ*ar i, i" I"ijL"* "co.tsu[ants. Bahnce area w l be denotified.
All the New Town projects, taken up by CTOCO ,n 70,s, are atmost nearing fhecornptetion. tn order to sustain the adminisration ,* "iol,"nr""i-.".i, n o ,"n.Ec.ssary lo have f6 mo* a.eas for develdpment, wtr,* snart oe se*_li-trrcient anocohmand economic teasibirity. rn accordance with the Governmenr oirect,res tneNew Nanded proiect has been handed over ,o ,""0"J ,rr"",p"i C-o#",,on inNovemtEr 2005. Sm ady New Aurangabad prqect wss handed or", a1lr""g"o"oMunbpal Coeoiation o|l 2oth February 2006 at the hands ot Hon.bte Minister, Shn.Rarosh Tope for haintenance of seMces
VASAI.VIRAR
crDco tuncrioning as speciar prannrng Authority of vasai-virar sub Reaion from'l4th May 1990 as per Maharashtra Govlrnmen, o,az"n" ,i"r'o1*"o."Xi.o"o,Th6 Govemment of Maharashua vide Notiftcation No fpsh2[gl24?gl1NO26Z10/UD 12 datd Ozto 2oll eithdraw CrOCO
". ip"""i "i-r"n
ir*Orr,ffi';;t*-t "'o ^egion
and transfBrred th" *,r"r. ,o ,""", ,,,.Jr'iiti J'unicipar
As per B.R. No. 10375 dt. O1.O8.2O.|O and as per directlves of pS to UD dt.21-1O.2O1O, Corporaton has is-sued cheque of Rs.t8t Crores ro-V""Ii iir"|. CityMunacjpal corporatrcn cn 1st Noveftber 20to (cnuquu to.szlszs jrr*-,iln "r";"0
nSind Bank. Vashi B.anch).
AWAROS AND RECOGNINON
CIDCO has devetoped the planned crtv cbeside rnane il-;;;;"i":;""i ?
or Navr Jvtumbai in the rltarine Crsy area
achrevem€nr ,"0r" o.in"o a"o' *, o".a'""onn't'on ol crDcos cori'nenoaDle
prannins I eid,",,",";; ;;;;;';". ;ffi .: ;'3::l:.:::1":':"il:,,""::i:::Eesdes thrs CTOCO was awar.oed p,rite tvt.n.ster s i\atrclat A\i,aro ",
e)a" O".a ,"!rban planning and design {llnd) in the jmp emented category for Api\4C project.
Dudng 0|e year 2U)g.10. CTDCO acquired 2S5O equiry ahares ot RS.1OO/- each,tu ypaid up amounting to Rs.2.55,000/- in the Mahatourism Corporation Limited.
A statement in ac.ordance wih $e provisions ol section 212 ol the Companies ActShares neb by City and lndustial Oevelopment Corporation of Maharashtra Lhitedin iE subuiary t&s. ibhatourism CoDoration Limited as at 31st March 2013.
As at
31′ 03′2013Rs
2.:i5000
34703/2112
Rs
2.55,Op0
3
2
1 ,'loaE of the emptoyees of your Company was drawing aggregale remL,neration ofmo.e than Rs. 24,00,000,/- per annum, having been emptoyed throughdul he periodunder revbw or aggrcgale remuneration ol more than Rs_ 2.OO,OOO per monthhaving been employed for part of the perjod under review €s required under theprolrbim of Seclior 217(2A) of the Companies Act, 1956 read with Compqnies(Particulars ol Emptoyees) Rules, 1975. as amended in i99O and hence theinformation thereto in NIL_
Statement are attached herewilh as Annexure-t and lt, containing clanfication onCoanments o, SEtutoay Ai.dttor and Comments ol the Comptro er and AuiitorGeneral of lndia on he Annuat Accounts o, the Corporahon ,o, in" y"ar.
"no"O-,iiu,Marcjl 2013. as required to be declared for the infomalion of the Board In Dursuant tolhe provisions of Section 217(3) of the Companies Act. i956. ,
-lnlbrmalion pursuant to Section 217(i) (e) of the Companies Act, i956 read witi th6uomp€nles (Disclosure of particulars rn the Report of Board ol Olrectorsl Rftes,1988. regarding Energy ConseNation and Technotogy Absorption, Oeing notapplicable to trre ',vorking of he Corpora[on, is NtL. tnt;;mation i"g"rding fi
"ig;Earnings t Outgo is disctosed in the Notes fohing part of the Acccunts
HUII{AN RESOURCES
Youa Company has alwayg recognlzed the vital role of Human Resource! inachieving organizationalexcellence. Emphasis was given lo contrnuous learnino andt,p gradalron of sklrs at all evets lo e'noo!!e. the e.rployees rc ,c,t a n tecr,rologipal.lcompettive in order to detiver hrgh quatrty and coasrsteni resuttsThe Compani's annual traiiing caendar was frameC v-ri(tr this objeotive and thetraining was impaned to the cross sechon ol the employees.
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Em"yeeS¬にlfare oonbnued lo receル e locused anen10n。 けOur cOmpany Severawe latt schemes and poloes,whth woutt bonen he em口 。yeeS and mdr● m1les,were conunued o be m● emented throughout lhe year The benens undei lheschernes were penOdicaly reviewed and upgraded to meetlhe requirements ,
The nanpoTrstrengm ofyOur cOmpany as On 31-03‐ 2013 was 1338
ReLOons輌h EmA●yees at a‖ ule COmpany lc ca“ ons∞nunued tO be hamoniOusand cOrdiJ dunnglhe yean
AUDlrORS
躍 :網⑮ 」li蘇柵 棚 嶺魃 ly織
驚:織′趙 譜ぜ訛智酬県:℃嘗刷脇ぶ喫鷺もよ曲
紳灘嶽麗鸞齢聾‖織t and Observat ons therein are noted
OIRECTORS'RESPONSiB!uw sTATEMENT
As slpulaled yOur Dileclors amm their cOmmllment to the DirectOrs'Responsiblity
Statement as below
The D"em、 stale ulat
i ln preparanOn oi the Annual Accounls yOur cOmpany has 10‖。wed the appl■ ble
acoOunting standards wth pЮ per explanatiOns relating i。 [natenal departures
2 The Dlrec10rs have selected such accOunting p。lcies and applied them cOnsistently
and made,udOments and esumates that are reasonable and prudent so as to 91ve a
me and lalr vlew or ule state Of arairs Or yOur company as at 31 March 2013 and OF
ule pront Or!。ss 10「 ule pelod
a 、e Dred。にhave lattn p∞
"rmd滞器話∴f梶冨1::ilξtta憲態a… nln9_rds in axodance withsareguarding the assets Of your Company and fOr prevenung and detecung freuds
and Otheriregulantes
4 The annua! accOunls Of yOu「 Company have been prepared on a going conoernbasls
ACKNOWLEDGEMENT
Your Direc10rs wish to acknowled9e the cOntinued suppOrt and 9uldance received
from he dnに rent Departments oF the Government of Maharashira more parlicЧlarty
U「ban Developrnent Department and take this OppOrtun ty tO exO「ess the r thanks 10
the omcers and emp10yees in the U「ban oeve10pment FInance, Industry and otherDepartments OF the COvernment Of Maharashtra, MMRDA M nster c v‖
Av alionMln ster Of Ra,ways lnternalonel A「 pca Au:holty NMsEZ 卜uDCO and othe「hsu● IPns fOrい。「hdp and cc_Opttaけ on
D rectofs also thank a‖ the bankers Ofthe cO「 porat on f。「 the resOurces,seryicesi andsupPOn exteЛ 。じ。by● em D rectors a so thank the ComptrOler and Aud“
or Celeral
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oflndb,Accountant Ceneral(Maharashtra)and hb StaF hternd Audn R「 ms,fOr the
services. assislance. h€lp and c9-operation rendered by them
For and on bEhalf ol he Board of Dtre{tors
Your Directors also thanks the emptoyees at all levels, who, thro'Jgh their dedicdtion,c@peEtion, suppo( and smart work, have enabted the Company to achieve hpidgro\rJo!
I would like b ha,lk e.ch member of the 8oa.d for h€ir valuabte contribution.
T}|e Co.poratirn l@l€ brlla d io burtding on this progress to create the best posiibleCity Oevelopme at Navi Mumbai and continue to cJ6ate jobs, generate investtnenland atf'act poople b the City of Navi Mumbai. lt is with your resources that wq areable to build a b€ter tuture. We are thankfut to everyone thal has suppodeq oureflorB to create and preserv€ the City of Navi lrumba & New Towns_
Place i Mumbai
Date:
Chairman
,\'..^^.\-\""c.hM,J
?lt10)i\
Aniorute I
Ar per requirem€nt otsoc on 2tZ(3) o, Companiog Act. ,t956
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.JqIPIANATON TO NTE COIIITI'E}ITS OF THE AUDITORS REPORTON THE ACCOUNTS OFCORFORANON FOR THE YEAR ENOEO 3ISI MARCi2O'i'-_- -
a. - - Change kr ilehod ofAccountrng6.t.a:
Citl_E-hdr6Eial Devetopjnent CorpoJ_ation ot Maha.a6htra Limited(Ctoeo) wasmcorDo.abd o.r lTth March tszofhe Govemmi;i "i friln".irnfr, ,io"Governn€flt resotdid, {GR) ru" roi izidrir.r'o_i'-iatj'iitri'ira"rch,t szoehtsusted CIOCO to act as an aggnt of Govehment of MaharashtB for- developnent of rrans,Thana ana iran+Harooui arel jn .irr"i,,-r"rr", "no
The Go\remment ot Msharas,hua- vide Govemment Resotution (GR) No. CjD_2022-1, daed 2,rut hn ,t..1nz. i"*"0-n"iiirif .ri.iii#J;,"
riil,*raoon o,ctoco. .,/rs De, he insructi;ns in tr,. en. cioEci
"lorii..Jnil#ke alr 0,edevel@me work_ omvid.uirfr*]",a"j"i",#i|.i.[i:]-tiTri.i,ftr, J:i:T?f#fi "[,:iti,,::behirf o, b6 Govemment. dtoco ** g,r", p;;i-r", l].pol.""o, *" ,."aacquied by the Govemmenr ana to incui eipeoiii..]'"i"oJr.#ii"_"", ,ro* ortof.sal6 pror€eds of land. Ine proceeds which are to be recovered from sale of-. laod acqqired by the covernment are p"yaUru to p," C-or"rni"ni]# aorr"tirgl"jfrrry* expenditures, _ _admi;js[rative
- ",pJ"jiri".
,,.".i.J,
"g"""v6 l.c . remunemlbn restsicied to Rs. s,oo,oooi per ye61
- -- -..--- -,,.
CIOCO was apooinled as Specral Town ptanning Authority/Oeve{opmentAuthority for rhe towns 6f New Aurangabad; ru"* r.ri"ii] t"i, l""i"i""t". ty ,n"covemment of Maharashrra rn.exei",s" or p.*"ii-"J"roi"jiv'""iu.r"" tol orsub-secibn (1) or secron loor ue [latra-raln* 'i"-g,""-"iilo"iJ,rr.,l
"o*rgAcl, 19616. As 9er orovisions of section_l t 3 (&\1 ot ure -tvtatrarisnlri -Cegronat
anOTorn Phnning lci, 1966. ttre Specrat Town ptann,ng Authonty has to ;ork as anagont ot the Stale Governmeit6.1.d
It |s observed that there ii no,difference in the status of CIDCO berng thg ,Agentot covernment of' Mahareshtr.a,
ui''**;**i+#1,;,fl ",[:ff i,[.",,;i;]tJ;IT;"i:,"ffi:",:Exptanation : Noted for compliance.
FTネ鶏氣1菖榊斃
617
618
Exptanarion : n"t.o i"l. ii]r"plrlli"l
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ExplanatiOn:Noted fOr cOmplance l
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625
626
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depanment has raiied demand of Rs. 4.03,282, tor tate sr.rbmrssion iot rerrrrnswhich has nol been provided ln the accounts.
;Erpl.na[on : Noted lor clmptiance
Cunent Arssti Loans & Advances and Cunent Liabihties & provisions 6f proiectsundertaken m behalf ot govemment are tncluded ln Loans & Advdnces'andliabilities & Provisions respectively rn the accounts ofthe Company.Erplanaton : Thb being statement of fact calls for no commenl.
'
Clafits recorcrable froan contractoE have been included under sundd DebtorsExphn.Uon : Thig being statement of fact ca s tor no comment.
C,orpo.auon has not complEd with Accounting Standard referred to in Sub-.secton(3u) ot s€ciir.t 2'11 of thg Companies Act. 1956 nor quantified thdlimoact otdevEton of Accounting standards on financial statements and had atso notspooned the r€asons Ibr deviahon. ConsequenUy. we are not able to oLandfv lheimpad of non comptiance ot auove ficountns sunoaiai on'-u{-in:in"i.]statetnenb o, B16 Comp:my for he year ended 31r liarch 2013 I -3:,;J$,: LT "*cration
To the Members ot CITY AND INDUSTRIAL DEVELOPMENT CORpORATION OFMAHARASHTRA LIMITED
Report on the Financial Statements
1. We have audited the accompanying financial statements of CITY AND INDUSTRIALDEVELOPI4ENT CORPOMTION OF MAHARASHTRA LI14ITED, which comprise theBalance Sheet as at 31'r March 2013, Statement of profit and Loss and Cash FlowStatement for the year then ended, and a summary oF significant accounting policiesand other explanatory information, which we have signed under reference to thjsreport.
Management's Responsibility for the Financial Statements
2. The Company's lYanagement is responsible for the preparatjon of these ftnancialstatements that grve a true and fair view of the financial posrtion, financialperformance and cash flows of the Company in accordance with the AccountrngStandards referred to in sub-section (3C) of section 211 of'the Companies Act, 1958,of India. This responsibility includes the design, implementatton and maintenance ofinternal control relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement,whether due to fraud or error.
Auditors' Responsibility
3 Our responsibility is to express an opinion on these financial statements based on ouraudit. We conducled our audit in accordance with the SLandards on Auditing rssued bythe Institute of Chartered Accountants of India. Those Standards require that wecomply with ethical requirements and plan and Derform the audtt to obtain reasonableassurance about whether the financial statements are Free From materialmlsstatement,
An audit involves performrng procedures Lo obtatn audrt evidence, abouL the amountsand disclosures in the financial statements. The procedures selected depend on theauditors' judgment, including the assessment of the risks of rnaterial misstatement oFthe financial statements, whether due to fraud or error. ln making those riskassessments, the auditors consider rnternal control relevant to the Company'spreparation and fair presentation of the financral statements in order to design auditprocedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the entity's internal control. An audiLalso includes evaluating the appropflateness oF accounting poiicies used and thereasonableness of the accounting estimates made by 14anagement, as well asevaluating the overall presentation of the financial statements.
We believe that the audit evrdences we have obtained are sufficlent and appropriate toprovide a basis for our audif oplnion, subject to para 6 and t herein below.
INDEPENDENT AUDITORS' REPORTTO thE MEMbETS OI CTTY A D INDUSTRIAL OEVEIOPMENT CORPORATIOX OF MAHAFAS}ITRA LIMITEDReport on the Financial Statements
6. Attention is drawn to the following:
6.1 Change in Method of Accounting:
6.1.a. Aty & Industial Developfient Corporation of Maharcshtra Lihited(CIOCO)was incorporated on 17th March 797O.The Government of Maharashtrc videGovernment resolution (GR) No.IDL 5770/IND-I dated 18th March,1970entrusted clDco to act as an agent of Government of Maharashtra fordevelopment of frans-Thana and Trans-Hatbour area in Uran, panvel andThane Tehsil with a view to secure the objective of decongesting industriesand other concentrations in Bombay and with a view generally to rcsolve theproblems of urban congestion in the Bombay city.
6.1.b. The Government of Maharashtra vide Government Resolution (cR) No. CID-2072-U dated 24th )anuary, 1972 issued financing instructions for operationol CIDCO. As per the instructrcns in the GR, CIDCO shoutd undertake all thedevelophent workt provide social and phygcal infftstructure to attain theobjedives laid down in (GR) N,.IDL 5770/IND-I dated l9th March, 1970 onbehaff of the Government. CIDCO was given power to dispose of the landacqutred by the Government and to incor expenditures oo developfient workout of sale proceeds of land. The proceeds which are to be recovered frcfisale of land acquired by the Government are payable to the Governmentafter acljusting development expentlitures, administative expenditures andagency remuneration restricted to Rs. 5,0O,O00/- per yeat.
6.1.c. CIDCO was appointed as Special Town Planninq Authority/OevelopmentAuthority for the towns of New Aurangabad, New Nasik, New Nanded etc. bythe Governheot of Maharashtra in exercise of powers confefted by clause(b) of sub-section (1) of section 40 of the Maharashta Regionat and TownPlanning Act, 7966. As per provisions of section 113 (3A) of the MaharashhaRegional and Town Planning Act, 1966, the Special Town Planning Authotityhas to work as an agent of the State Government.
6.1.d. It is obseNed that there is no difference in the status of CIOCO being the'Agent of Governfient of Maharashtra' either in Navi Mumbai or New lownsof Aurangabad, Nashik, Nanded, Vasai Virar and oth$ New Towns Projects.It 6 further obsetyed that CIDCO being a New Town Development Authorityfor Navi Mumbai or Special lown Planning Authonty for New Towns ofAuranqabad, Nashik, Nanded etc. makes no difference ih the status of CIDCOas the agent of Governfient of Maharashtra fot Navi Mumbai and all otherNew Towns and accordingly, the surplus / defiat either retlected instatement of Profit & Loss or in the Prolect Accounts, belongs to sovernmentof Maharashtra.
6.1.e. In the above back ground CIDCO started prepaflng Project account for NewNashik, New Nanded, New Aurangabad, OROS, Nagpur, Tarapur, Mhaismalfrom the year 2012-13 as against the Profit ancl Loss account those wereprepared till the year 2011-12. The effect of the same is given in Point No.23 of Note-21 of the Balance Sheet.
6.1.f. Accounting poltcy for valuation of inventory, tnternal interest anal head officeoverheads are discontinued lrom the financial year 2O12-1i. The effect of
.... Pate 2 of8
INDEPENDENT AUDITORS' REPORTTO the MembeTs of CITY AND tNoUsTRTAL DEVE!oPi,IE'{T coRPoR]ATIoIT oF TqAIIARASHIi,A LIiIITEDReport on the Financial Statements
change in the accounting policy ts given in point No. 23 of Note-21 of theBalance Sheet.
6.2 The Government of Maharashtra vide its order dated 01,01,2005 appointed Dr.D. K. Sankaran, Additional Chief Secretary, ptanning Department, to conductdiscrete inquiry tn the alfairs of the Company for the pertod 26.05.2003 to28.12.2004, particula y to look into the allotment of tands made contrary to theestablishment rules, regulations and conventions. Dr. D. K. Sankaran hassubmitted his report. The copy of the said report has not been made ava ablefor our review.
6.3 The Government of Maharashtra has appointed Nandlal Comfiittee to enquireinto the allotment of plots of land to prathfiesh Co-operative Housing Society(proposed) and the committee has submjtted its report. The copy ol tahe reporthas not been made available for our review
6.4 In absence of proper records of properties let out and Rent Agreements,correctness of accountng ol rent could not be ascertained in Navi MumbaiProject account.
6.5 The receipts pertaining to Navi Mufibai project A/C by way of commission @1o/oon payfients made to the covernfient towards labour cess tiability has not beenaccountecl in the Stores departfient for the Fy 2012-13 and in case of Transporta-nd comfiunication (T&C) depaftment, the same is peoding for booking since Fy2010-11. However, the conmission pertaining to T&C Aepartment has beenaccounted durinq the financial year 2014-15 in the T&C department.
6.6 In absence of information and necessary supporting docufients regardngaccountinq of Railway Surcharge, we are unable to verify ahd comment oncorrectness of the Surcharge recetved and receivable in respeci ot sale ofTlckets, Coupons and Smaft Card from Central Railway and Westem Railway.
6.7 As repofted by the auditor of Aurangabad unit, in respect of transfer chargeslthe head office has increased the transfer charges by 1oo/o lor Fy 2O12_1j ascompared to the previous year. Board approval for the same iS obtained on 28-08-2013. Thus the transfer charges recovered for the Fy 2012-13 are rccoveredat old rates. In the case of Navi Mufibai project account, inspite of our requestto provide documents for our sample verification relating to transfer chargescollected, most of the documents have not been made available. In absenc' ofsuch records, we are unable to cornfient on proper accounting of transfercharges received.
6.8 As reported by the Aurangabad lJnit, CIDCO has not taken any efforts for sate ofShops, stalls in the secto. N-11 (Mutton Harket) and is shown under unsoldshop and stall from last many years_
6.9 There is no sale of Shops/Stalts in Nashik, Nanded and Mhaismal branchesduring the year. Further, thete is no sale of compteted tenements underdifferent housing schemes dunng the year in Aurangabad, Nashik and Nanded.
6.10 Attention E tnvited to Note no.3,4 and 5 of Note-21 regarding non-reconciliation of accounts under current assets and current liabiiities and non
.... PaEe 3 of8
(l
INDEPENDENT AUDITORS' REPORTTo the IYembeTs of CITY AND INDUSTRIA! DEVELoPMENT coRPoIIATIoN oF MAHARASHTnA LTHITEDRepo.t on the Financial Statements
adlustment of advances under Loans and Advance and noo recovery of advancesgtven in eaflier years.
6.11 No provison has been made in respect of items mentioned in point No. 2.1, 2.2,2.3, 2.4, 2,5, 2.6,6,9.1,9,2, 9.3, 9.4,9.5, 1j.1 and 14.1 of Note-21.
6.12 No Provison for Gratuity liability if any, has been made lor workers on contractbasis. The management has informed that slnce no claim has been receivedfrom the contractors, no provision has been hade and the amount is notascertainable.
6.13 Loss of Rs. 14.55 Lacs has not been accounted being the cost of two teoementsgiven to enployees of IRCON which vtas to be evicted by the Company. Asinfomed, the Company has neither got evicted the tenements nor has en-cashed the bank guarantee of Rs. 14.55 Lacs issued by IRCON to the Companyfor cost of tenements.
6.14 As stated in point no. 14.2 of Note - 27, no provision has been made in respectof additional liability, if any, which may arise for the cost of land acquired forMhaistual Project.
6.15 No provision has been made lor Incofie tax liability lor the yeat. Income taxassessfieots are completed up to assessfient year 2006-07,
6.16 Loan taken from Goverhment-B,lJ.D.p is showing a balance of Rs. 1,1g,2o,gggin the books as on 31st March, 2013 as against Rs. 7,30,21,226 shown in therepayment schedule resulting io a difference of Rs. 11,00,327. As informed tous, the said amount has beeo adJusted in the subsequent payments.
6.17 As per the CIDCO policy, ceiain percentage of the contractors bills are coltectealby way of Creche fund for the welfate of labour and their famity. The amount socollected is shown in the liability and at the time of utitization of such fund, theCreche fund account has been alebited. The fund so co ected, which is morethan 5 years old, is transferred to the project Accounts as receipt. Onexamtnation of the books, it is obgerved that only a small portion of the funcl isutilized for the benefit ol the labour and their families and balance fund which ismore than 5 years is being translerred to Ptoject Accounts as receipt.
6.18 A) Party and age wise details of the amounts received towards Registratioocharges/EMD and Buyers contnbution for booking of plots, Shops, Tenementswere not provided for our verificatrcn.
B) Receipts from Sale of Tenetuentst Plots and Shops has been accounted forbased on the information provided by the Marketing Department of theCompany. However, subsidiary books and othet records of the Ma*etingDepartment are subject to reconciliation with control accounts.
C) As per books of accounts of the Corporation Rs 950.75 crores, 2,724.38crorest 1,181.78 crores and 15.34 crores are shown to have been received asDeposits from buyers against sale of plots, Tenements, shop and othersrespectively upto 31't March, 2Ol3- Most of the amounts were long outstanding,In absence of proper records showing party wise and age wise details of depositsreceived and accounting of sales il any, io the books of accounts, we are unable
.. Page 4 of8
INDEPENDENT AUDITORS' REPORTTO the MEMbETS Of CTTY iO TITDUSTRIAL OEVELOPlltENT CORPORATIOI{ OF TiAHARASIITM LIllrTEOReport on the Financtal Statements
to quantlfy the impact / consequential effect of the same in the financialstatements.
6.19 We have obsetyed that the VAT liability arising on the sale of tender formsduring the year has not been provided in the books of accounts and the safiehas not paid to the government. In absence of details of sate of tender lormduring the year, we are unable to quantify the VAT payable.
6.20 No amounts have been recovered against advances given to various socialiostitutions amount[ng to Rs. 5,87,22,350 as on 31st March, 2013 by EstateDepartment.
6.21 The agreements pertaining to MTp raitways Katwa - Turbhe, Belapur - lJran -Nerul, Mankhurd - Belapur and Thane - Turbhe prcjects were not provided forour verif[cation. In absence of relevant docufients and agreements, we areunable to verify and comment upon correctness of expenditure accounted-
6.22 Confirfiations have not been obtained for Sundry Debtors, Loans & advances.Management is unable to quantify the impact of the above. In view of the abovewe are unable to quantify the impact if any on the finaociat statements for theyear ended on 31st March, 2013.
6.2j Quantitative details fot additional informat@n for Navi Munbai prcject were notmade available.
6.24 The Company has not malntained Fixed Assets register except for New NashikUnit. Hence we are unable to comment upon excess /short deprcciation(including accufiulated depreciation) provided in accounts and its impact, if any,on the financial statements for the year ended 31st March, 2013.
6.25 The relevant information and documentations regarding process for altothent ofPlots, Shops, tenements etc. were not prowded for our verificatiol.
6.26 Sundry Debtors include Rs. 10,964.30 Lacs recoverable from Navi MumbaiMunicipal Corporation(Nqvc) n tefins of agreenent dated 31th Novetuber,2007 between CIDCO and NMMC (Water Suppty Infrastructure). In abseoceof infortuation about the compliahce of terms and conditions of the saidagreehent, we are unable to comment upon the status of final recovery of thesatd afiount.
6.27 As reported by the auditor of Aurangabad unit, the unft of the Cotporat@n hasfiled quarterly TDS returns for the year 2012-13 after due date. The incofie taxdepartment has raised demand of Rs. 4,03,292/- for late submisson of returnse,thich has not been provided in the accouots.
6.28 Current Assets, Loans & Advances and Current Liabilities & provisions of ptojectsundertaken on behall of government are Included in Loans & Advances andliabltties & Provisions respectively in the accounts of the Cotupany.
6.29 Claims recoverabte from contractots have been nctuded unater sundry Debtors.
.... Page 5 of8
INDEPENDENT AUDITORS' REPORTTO thc MEMbETS Of CITY AND IIIDUSTRIAL DEVELOPITIEI{T CORPORATTOI{ OF I{AHAIIASHTRA LTMTTEDReport on the Ftnancial Statements
Opinion
7. In our opinion, and to the best of our informatton and according to the explanationsgiven to us, the accompanying flnancial statements give the information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in lndra srrb]ect to para 6 and 9 of this report:
(a) in the case of the Balance Sheet, oF the state of affairs of the Company as at 314March 2013;
(b) in the case of the Statement of Profit and Loss, of the proFit for the year ended onthat date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the year ended on thatdate,
Report on Other Legal and Regulatory Requirements
8. As required by 'the Companies (Auditor's Report) Order, 2003, as amended by 'theCompanies (Auditor's Report) (Amendment) Ordet,2OO4, issued by the CentralGovernment of India in Lerms of sub-section (4A) of sectron 227 of the Act (hereinafterreferred to as the "Order"), and on the basis of such checks of the books and recora,s ofthe Company as we considered appropriate and accordtng to the information andexplanatrons given to us, we give in the Annexure a statement on the matters specifiedin paragraphs 5 and 6 of the Order,
9. As required by sect'on 227(3) ofthe Act, we report that:
(a) We have obtained all the information and explanations which, to the best of ourknowledge and beliet were necessary for fhe purpose of our audit;
(b) In our opinron, proper books of accounts as required by law have been kept by theCompany so far as appears from our examrnations of those books except the itemsreferred to in Accounting Policy no. 5.4 of Note I ol notes to accounts which areaccounted for on cash basis instead of on accrual basis as required under section209 of the Companies AcL 1956.
(c) We have not carried out audit of financial statements of the New Aurangabad, NewNashik and New Nanded branches of the Company. These financial statementshave been audited by other Eranch auditors appointed by the Comptroller andAuditor General oF lndia whose reports have been furnished to us. we have placedreliance on the said reports and have suitably dealt with the same For the purposeof our oDinion on the overall flnancial statements of the Company.
(d) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealtwith by thrs Report are in agreement wrth the books of account.
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INDEPENDENT AUDITORS' REPORTTo the MembeTs of CTTY AND InoUSTRtAL DEVEIoPMEI{T coRPoRATIoIt oF MAHARASIiTRA ltMrTEDReport on the Flnanclal Statements
(e) In our opinron, the Balance Sheet, Statement of Profit and Loss, and Cash FlowStatement dealt with by this report comply with the Accounting Standards referredto in sub-sectron (3C) of section 211 of the Act except
DepreciationAccounting
Accounting for depreciation is not tn accordancewith AS - 6 (Exce[rt in case of Nashik lJnit). ]nabsence ol required information we are unable tocomment on the Compliance of AS - 6-
Sale/Revenue in Project accounts from sate ofPlots/shops/ Tenefients E oot in accordance withA5-9. Also refer Point No.5 of Note 1.
ハS‐ 10 Accounting forfixed Assets
Policy of company regaraing detitng UaviMumbai Project Account lor certain assetspurchased/acquired for Navi Mumbai projectinstead of Fixed asset is not in accordance wfthAS-10.
The cofipany is not maintaining item wisequantitative details of Fixed Assets andaccumulatec! depreciation reflected jn Note no.-70 ol financial statements.
In the case of sale of Fixed Assets, the sale priceof the assets sold has beeo reduced from cost ofassets instead ol reducing the orighal cost ofassets sold ffofi the gross block of respectiveassets and total depreciation charged till date ofsa le from accu mulated depreciation.
Employee Benefits Disclosure with regarcts to any short termemployee benefit plans/post efi ployment benefi tplaos/termination benefit plans and or otherLong term benefit plans are not made asrequired by AS 15.
Also, no Provision for Gratuity liability has beenmade for workers on contract basis_
Consoltdated
Statefients
Company has netther prepared ConsolidatedFinancial Statement of its subsidiary nordisclosed reason for non consolictation of financialstatements of its subsidlary as required by AS -21.
Company has not disclosed inforfiation asrequired by Accounting standard. In absence ofinformation, we are unable to comment upon the
..-. Page 7 ol 8
4S‐ 1,
INDEPENDENT AUDITORS'REPORTTo the Members of u,,AND IIIDuSrRIAL DEVELOPMENT CORpoR^■ Ol1 0F“ A"^RASHTltA LI"ITEDReport on the Financial Statements
Accounting Standards cofifienE
compliance of AS - 28.
29ASContingent
continqent assets
In absence of full disclosures regardingcontingent liabilitles and assets, we are unable tocomment on cohpliance of AS - 29.
The Management has oot quantified the impact of deviation of Accountingstandards stated above on financial statements and has also not speofed thereasons for deviation. Consequently, we are not able to quaotify the ifipact of noncompliance of above Accounting Standards on the financial statements of theCompany for the year ended 31st March 2013.
For κailash Chand JainChartered AccountaFRN:112318W
Place: MumbaiDatet 27.O4.2015
M.No 017134
... Pate 8of8
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Annexure to the Auditors'Report(Referred to in Paragraph - 8 of our report of even date)
Re: Clty & Industrial Devetopment Corporation of Haharashtra Ltd,
(a) In our opinron the Corporation has not maintained proper records showing fullparticulars including, quantitative details and situation of fixed assets exceptfor New Nashik and New Nanded. Further as reported tn point Nos. 4 & 5 ofNote 5(1), the Corporation has not maintained any records of Fixed Assets ofNavi 14umbai Project Account.
(b) The Corporation has not carried out physical verification of Fixed Assets exceptat New Nashik, New Nanded and Aurangabad. The physical verificationconducted at New Nashik, New Nanded and Aurangabad has not revealed anymaterial discrepancies. In our opinion, in case of Navi MLlmbai and other unitsof New Towns the physical venficatron is not adeguate having regard to thesize of the Corporation and nature of its assets.
(c) As rnformed no substantial part of fixed assets has been disposed off by theCorporation during the year so as to affect the going concern assumption.
During the year the Corporation has transferred all inventories to respectiveprolect account as compared to last year in which same has been disclosedunder the head current assets as inventories, as the Corporation is acting asan agent of the Government of Maharashtra for city & industrial development.Hence (a), (b) &(c) of para ii of CARO are not applicabte.
In our opinion and according to information and explanations given to us, theCorporafion has nelther gr6nted nor taken any loans, secured or unsecured to/ from Companies, firms or other parties covered in the register majntainedunder section 301 of the Act. Hence, the provtsions of clauses 4(iii) of theOrder are not applicable to the Corporation,
In our opinion and accordtng to the information and explanations given to us,the internal control system for purchase of inventory and fiied assets,accounhng of sale of plots, tenements, shops etc need to be substantiallystrengthened to make it commensurate with the size of the Corporation andnature of its activity .
According to the informaLion and explanations qiven to us, we are of theopinion that, there are no transactions made in pursuance of contracts orarrangements that need to be entered into the reglster maintained underSection 301 of the Companies Act, 1956. Hence, the provisions of clauses 4(v)of the Order are not applicable to the Corporation.
The Corporation has not accepted any deposits from the public. Hence, theprovisions of Sec. 58A and 58AA of the Companies Act, 1956 and Companres(Acceptance of Deposits) Rules are not appticable to the Corpo;ation.Therefore. provisions of clause 4(vi) of the Order are not applicabte to theCorporation.
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Vll In our opinion Internal Audit System is not commensurate with the size ofCorporation and the nature of its activity. The corporatjon is havinq In_-houseInternal Audit department at Navi Mumbai, New town and separaie Internalaudit is being done by an independent charierea accountant oriy in L,it, ofNavi Mumbai and Nasik Branch. However there is no regular ini"-"f uuOitsystem prevailing in the units of the corporation and InGrnal aLldit reoorts(exc€pt 3 units of Navr Mumbai) were also not rnua"
- uruifuli"' foi ourvenltcatron_
In our opinion and according to the information and explanations glven to us,maintenance of Cost Records has not been p.es..lbed by ti"- C""ta"lGovernment For the activities of the corporation unaer section'zob 1rfio1 ofthe Companies Act 1956. Therefore provisions of ctause 4(,ri;t;f r;; b;;; "."nor apptlcabte to the Corporation.
AccoJdrng to the information and explanations given to us and the records ofrne, Lorporatton examined by us, in our optnion, except for dues in resDect of::::-r-.T-"1,19":q cases, the Corporation is generafiy regutar in deposttingunorspute,o- statutory dues, rncluding provident fund, inveitor education andprotection fund, employees,state rnsurance, income tax, sales tai, ;;;id a.r,service tax, customs duty, excise duty and other mate;iai ;i"art";-d;;;
",applicable, with the appropriate authofltres.
fhe extent of the arrears of statutory dues outstanding as at 31.t March 2013,for a period of more than six monthi r.o- tte aate trieiU-ec.'-" r"r"l[-"."as follows:
V]1:
(a)
り
´
Name of theStatute
Nature ofDues
Amount(Rs.)
Period towhich
the duesralate
Date ofPayment
Maharashtra vaitleAdded Tax Act,2002
VAT 1′ 900 2011-12 28032014
Employees Statalnsurance Act (asreported by BranchAuditor ofAuranqabad Unit)
ESIC 6′ 69′ 00o EarlierYears
unpald T‖ |
date
:Te`Xは ′
蒻24,360 Earlier
YearsVadousdates
Income Tax Act ′1961
TDS On
Paymenf toContractors
45′ 950 EarlierYears
unpald■ ‖
date
Income Tax Act1961
IDS onsalary
91′ 010 2012-13 Unpald T口 |
dateProFessional TaxAct
ProfessionalTax
20,674 2012-13 Unpald T口 |
dateNon Agricultural NonAgriculturalCess
84′ 097 2011-12 Variousdates
m ess
N
C
A9ricultural NonAgricultural
2′ 57′ 764 2011-12 Unpaid T‖
date
Service Tax Act ServicdTix マ,狙′245 2012-13 Unpald T‖ I
date
Work Contract Tax VVo「k
Contract Tax46,094 Earller
yearsVariousdates
General ProvidentFund
ProvidentFu nd
23′ 195 Earlleryears
Unpaid TIlldate
The Corporation is not collecting Tax Coltected at Source (TCS) on the payand park charges collected from the contractor.
TDS has not been deducted on all payments made to employees, who areemployed on contract basis wjth the Corporation.
VAT collected on sale of Tender forms has not been paid to the concernec,authorities.
Service tax liability of Rs 9,642/- has not been paid by the CorDoration onhire charges of vehicles incurred at Naqpur Unit,
As reported by the Branch Arrditor of New Nanded unit, it is observed that,under account Code No. 232100 an amount of Rs. 43;07,868 is depositedwith the PF authoritjes by debit under the account A.p.p (EpF), (Advance toprivate party). It is stated that the amount is deposrted in ttre matter of casefor the period year 1990 to October 2OOS.The iard amount is deDosited onaccount of PF payable For the labours engaged by the contractors of the unttearlier for which notice under Section ,A were issued to the Corporation.Thus, the amount paid is on behalF of contractors for aefautl if anycommrtted by the conLractor whose bils might have been setfled. Thecontractors are not yet identified and proceedings for recovery have not yetbeen initiated. It is stated that the matter is suO.;uaice 6efo.e tte pfauthorities, no further details are subm,tted to ve.tfy and comment on theeffect of the financial statement and probable contingent tiability,
(b) According to the inFormation and explanations gtven to us and basec, onrecords produced before us, dues of service tax ind value added t;x, whichhave not.been deposited wjth appropriate authorities on account of a dispute,are as follows:
Name orthe
Statute
Natureof Dues
Amount(Rs.)
Period towhich the
Duesrelate
Forum wheredispute ispendlng
Service Tax ServrceTaxDemand
1′ 36.56′ 00′ 263 01062007to
31032012
Submission ismade toCommissioner ofService Tax.
Service Tax ServiceTaxDemand
95′ 48′ 81′ 928 01042012to
31032013
Submrsslon ismade toCommissioner ofService Tax.
Demand
892′ 14,51′ 99o F Y 2006-07 Appeal nled withCIT(A)
X The CorpOration does nOt have any accumulated iosses as at the end Of theyear lt has nOt incurred a cash iOss during the financial year cOvered by the
audit
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Based On Our examination OF documents and records and accOrding tO the
mR認 酬 常TT皓:l薄1鍛彙誉器debentures and Other secur ties and ti
the Order are not applicable tO the Col
ln our Opin10n the c。「pOration is nOt a chit Fund or a nidhi/1nutual benent
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XXl I:Idlig t" information and exptanations given to us and based on ourexamrnation of books and records of the Corpo-ration .",.i"J ortJn=:u'.-.oiOuna"with the generally accepted auditing practices in rnOia, we trive neiiir-e-.'.o,,,eacross any instances of fraud on or by the Corporat;on, noi ,""-iruJ" a""ninformed of srrch cases by the management of the Corporation du.ing theyear.
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COMME,NTS OT TIIE COMPTROLLER AND AUDITOR GENERAL OF INDIAt lrDER SECTION 619(1) OF TIIE COMPAI{IES ACT, 1956 ON THE ACCOUNTS OFCITY & INDUSTRIAL DEVELOPMENT COR}ORATION OF MAHARASHTRALIMITED, MIJMBAI FOR TIIE YEAR ENDED 3I MARCH 20T3.
The preparation of linancial statements of City & Industrial Developmetrt
Corporation of Mrhrrrsbara LiEitcd, MuEbsi for the year ended 3l March 2013 in
accordance with the financial reporting fi-amework prescrib€d under the Companies Act, 1956 is
the rcsponsibility of the managemert of the company. The Shtutory Audrtors appointed by the
Compholler and Auditor General of krdia under Section 619(2) of the Companies Act, 1956 are
responsible for expressing opinion oo these financial statements under Section 227 of the
Compani€s Act, 1956 based ou independent audit in accordance with the Auditing and
Assurece Staldards prcscribed by their prol'essional body-toe irBliture of Cha:tered
Accoutanis oflndia. This is stated to have been done by them vide their Audit Reports dated 27
April20l5.
I, on behalf of the Comptroller and Auditor General of lndia, have conducted a
supplementary audit under Section 619(3)(b)of the Companies Act, 1956 of the financial
statemeDts of City & lndNarial Deyelopment Corporatioo of Mrh.rashtra Limitcd,
Mumbai for the year ended 31 March 2013. This supplementary audit has been carried out
independendy without access to dre working papers of the Statutory Auditors and is limited
primarity to inquiries of the Statutory Audiors and Company personnel and a selective
examination of some of the accounting rccords. On the basis ofmy audit nothing significant has
come to my knowledge which would give rise to any comment upon or supplement to Statutory
Auditon' report under Section 6 I 9(4) of the Companies Act, I 955.
For and on behalfofthe ofThe Comptroller and Auditor General oflndia
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Place: MumbaiDate:
PRINCIPAL ACCOUNTANT CENERAL(AUDIT)‐ III
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CITY&INDUSTRIAL DEVELOPMENTCORPORAT10N OF MAHARASHTRA LTD.
Pn(ip.l AccounuE atu DEt6u€ poti.6Not6 rdmr.8 p.n orlcouBfb(.i..le(.d ro above torm an lnt<.ar p.( o, rhe Batance sh4r
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ParingM No 0171,4P ac● ′山mbaDate :2,Aprt 2015
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3,5∞21200
1 58〕 ,,27445 ]5
35227 38
:0,821 18
26016,057,〕
3950020700
1,3900,782,7,7 44
5375,,6982,622 ,670o
6553
lE,il r,raa.o115,30
01,156"7,6.3252,
1 5876241'i513
1 =0'64882
21 479 1〕
".9464616 47]06
, 952o,62 466 11
'87 142 0,712,,2, 129 22
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:,∞: 75,20 820“Ю ll
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city a lndustHal Devetopment cOrpOration Of,Aaharashtra Ltd
Statement of proflt and Loss ror the year ended 31st March,2o13
tor and on behatfot the Board of Dir€ctors
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2012 2013
Rs in La(s
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Principn I AccountinS and Dhtosure policies INotes rorming Part of Accounts 21Notes rererred to above form an integral part oI rhe Statemenr of profit 6 Loss
、ヽ、、、硫 1ミ:指Chief Accounrs Officer
piRECTORS
0rrector
FRN 1 112318W
$sJoint Managi.g
のレクSanjay thalra
Oirector
Dr. Nitin (areerDlrecror
1:早:];:f]早学」ainPartner
詭譜il]諮Date:27 Ap● 12015
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Revenue f rom operatlons
Total Revenue (t + I)
Employee benef its expense
Totdl exp€nse3
Profit/ (Loss) b€fore exceptionat.nd extraordinaryitems and t.x (tll-tv)
Exceptional, Extra Ordinary ttemslncome Tax for the yearProflt /(Loss) fo. th. year .fter T.x (v-Vt-V[)Earning! per equiry share:8a!ic & Diluted 20
500 5 00
500 500
50o 500
500 500
1 27 1 27
昴Dkector
As per our attached Report ot Even DareM/s lGilash Chand Jain & Co.Chartered Accountants
Neeral
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Director
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20122013
lor.nd on b.h.tf otthe Bo.rd ot D,r*to6
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Chpr A.cou.ts OltrcE ampany S<retaryV Radha
Joint Mana91■ 901はtor
…U P S Madan
D,recto,
As pe, our a(.ched Repo( of E6. Datefi/s Xarlash Chand.Jaln 6 Co.
FRN 1 112318W
椰 anPariner
M110017134Ptace:Momb。
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Date:27 Ap■12015
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Cash Flow Stateme
A CASTI FLOW FIOM OPERATING ACTIVITTES
Op.r.tlng Profft b.ior. Worktng (.Dtr.t Ch.naes
D*rease/(r.creasel rn Long term Loan, and AdvancesDerease/(r.creaset h orher Ne co emafBDe.eae/(hcrea*) rn hvenron6D<.ease/0ncrR5e) rn R<elvabrsD<reae/(lrcre@)'tr Shon Tem toans 6 Advanc6D€cre&/(tn<rea*) m orher curnt AFtsln(ea*/ (Decrea*) r pay.bt6ln(ea*4D€(ea*) h oth6 cqrar Liabjlftte5lncrea*/{De<rease) h Other Long Term Liablttisln.reaF/ {Dkrea*) in Sho( Term p,ovisions
h tss.l.d fion oper. oE
C.rh ttd rroh Op€r. na *tMll6
]‖躙∫品糎『
Ⅳm6
c.eh usd lh tnvestin, ..tlvl .,
(21,38,
(7355411 95205
1,309 ,2
(8748,)(1278591)383842
'04990144′ ,768717ω )
CASH FtOw FROM FINANCING ACrlVIT[〔s
i:::;旧 :『 11:■↑脚酬増N€r (.sh u*d in fin.n.rt activiii.,
(15,639 87)
(1,433 17
22 30
(3,202'31.1537,
(1,548
(2.022
].'063547.Ooo 69
140,50454
140.54954
2,,3520,
(306 5,
2'545'4
(“7 52)
,97452)
{16521)
1064204Calh and Casn equ'valots a, ar Ot.Oa.jlcash and cash equNalents a5 at 11,ot.1l
53,,1428,756,82527
569,714 53
587,142 8,
Cath A C.rh .qutv.t.nE a. 3r.ted756825 27
537 :42 3'
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500 500500 う OO
232306:
074(〕n441
5 32
`,70531
28,2〕 5 61
23.235 6:
(37270)
,8, 142 6,
756.3252,
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2012.2011
NOTE . 1
PRINCIPAL ACCOUNTING POLICIES AND DISCLOSURE
1. Basis of Preparation of Flnancial Statements :
l1::::",.-11:,"llp are.prepared under the historicat cost convention, ondccruar Dasts, on the basis of going concern so as to comply in att materialaspects with appticable accounting principtes in fnaiu, tf," lilJrnilru standardsand retevant suidance notes issuei uv ttri r*tiiri" oi ir'i,iii!'i'i..lr","no orlndia and the relevant provisions of the Comp;;,.* nc-t, i9i;:''-- ^*"2. Flxed Assets:
Fixed assets are stated at their original cosa of acquisitlon lnctuding pre-operational expenses inctuding borrowiig cost. Fixed "irJi "i"
,r,o*i'"i ."" ""tof accumulated depreciation.
capitar work in progress is stated at the amounts incurred upto the date ofBatance sheet.
3. Depreciation:Depreciation on fixed assets has been_ charged as per the straight-tjne method inaccordance with section 20s (2) tur or *re c-o.pa"ies ll,i, iiiil ij.ollJ""on n",been charged at otd rates on aisets acquired p.:lot to O2lr}lt19g7 and at theprescribed rates in schedule xtv of.the cir.pini"i a.il ir-6ilr'
"il"ij'".qr,r"oonuor after 02/04/1987 on pro.rata u"ri, rro,i ir,.i"i","i'*iil'n iriJi.rr", i, prt
Depreciation has been chareed at revjse^d rates in schedule XIV of the CompanEsAct, 1956 with effect froir o1lo4.t 1993 rn accordance with the Circular No.1tt2t92.cL.v, circular No.14let aatea zonzr rsgi," i"r.l. iy 'li"-i,air*t.y *Law, Jusrice & company Affairs, oepartment il-f iom-j;;;;";i. .- -'
investments:
t and ProvisiOn for diminutiOn in value is
「ary,in the vatue Of such investment ror
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Rec● DtS rehted tO Proiect Account
4
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5.1.5a(e of ptots is recorded on the basis of attotment lettersentire constderation.
――
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日
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2012-2013
5.2.5ate of tenements, shops and social structures is recorded on receipt ofentire consideration and handing over of possession.
5.3.Entire Consideration mentioned in 5.1 and 5.2 denotes initiat payment &buyer's contribution and toans raied on behatf ot buyers for tire'balanceamount / amount payable in instatlments.
5.4.The Corporation has continued the poticy of accounting on cash basis asagainst accrual basis as required by amended secti;n 209(3) of theLompanies Act, '1956 in respect of the fouowing:
a. lnterest on delayed payment of jnstattments / premium payable byAttottees, except on toans given against sate ot tenements, shops and- other stnrctures, sewice chirges due from apartments at Nivi frfumbai,New Towns and Water Chargei Recoverable it Na"iUr.Uai. '
b. Lease rent / premium from ptot-hotders.
c. lnterest on loans granted to employees under various schemes.
d. Additionat Lease Premium, Service Charges and penal Chargesrecoverable from ptot-hotders under the Maiarashtra Reeionai TownPtanning_ Act against non-development of ptor *itnm if,i liirrr.t.aperiod of 3 years from the date of allotmenr-
e. Leave salary and pension aontribution payable to Government foremptoyees on deputation to the Corporation.
f. Claims. against the Corporation in respect of contracts/supplies andother Agencies.
Foreign Currency Transactions:
Transactions denominated in foreion currencies are recorded at the exchangerate prevailing on the date of transa:ction.
Employee Retlrement Benefits:
!!!:rhfla of earned leave, casual leave and education a owances areaccounted on payment basis. For trabitiry of graruity; toticy;. ,"[""'ir". Lir"lnsurance Corporation and the premium is-paid'.i"'i^J U"*'ri '".ar.i"tvaluation-
BorroMng Costs :
6
7
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8
:u::]::...T::,,1,jr*y-b!"-:111. acquisition or construction of quarifyinsTtttiJl:31ド I■lTP攣J:heC9S161sⅢ「Ъtttξ「ra品うhξはどi;も‖:tha necess話 しぬkessubilll:1子 |:滸葛詰き'さ
よ葛毒t電
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響∝h:rい[r“ ng COSts ae charged b revenue
お う
L etry:2012-2013
9. lmpairment of Asets :The company assesses at each batance sheet date whether there is anv indication:lll_:l^-":=^, 11y be impaired. tf any such inai."tion
'"iirtr, u,L .orp"nv
esumates the recoverabte amount of asset. lf such recoverable amount of assetor the recoverable amount of the cash generating unit to *niif, tt" "r*t O"tong,is tess than its carrying amount, the carrying amount is
-.eauceO to itsrecoverable amount and the reduction is treaiedas an lmpairment ils anO is
I::oS.1"99 in the statement of profit and toss. rf at tte Uarairie ineei date there]t^]:._"1:::r,T
that a previously assessed impairment loss no longer exists, therecoverabte amount is reassessed and the asset is reftected at ihe reassessedvalue.
{,10. Arnount of rent recoverable from S€hool Buitdings teased to Zilla parishads iscomputed at 7.5% on the capital cost
"r.e-,tifi"J-Uy-1n""iuUji. worf,sDepartment and in rhe absence of such a certificate on .upil"i.ori Ii p", ooor,or at specific rate approved by the lGnagement.
ll'contractors / supptie-rs' bilts are accounted for on the receipts thereof titt thecutoff date i. e. 3os June of subsequent y""r. aar"ri"i i, -iiij.,or, ,."adjusted onty at the time of payment oi running accouni Uiiti. -- -" -
'l2.Grants received from government,for specific project / purpose is adjusted tothe cost on comptetion of project / purpose expenses.
l3.Partial consideration received in respect of sale of Tenement, Shops and Sociatstructures appears under the head ,cjtt"i ronc i"i, l;b"ir,d;;. "-r' "
l4.Company has rectassified/regrouped the previor.rs year figures to confirm to thisyear's classif i(ation-
'l5.Cash Flow Statement
cash Frow statement has been prepared in accordance with the indirect methodprescribed in Accounting standard.3 "cash Frill;iem;ntli''*rr"eiina"r. tt "Lompanies (Accounting Standard) Rules, 2006.
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… … …¨ ¨ ¨ 中 _‐ ¨ ロ ロ ‐ ¨ ¨ 由 ‐ ‐ ¨ ― _
L 9,p.9
2012-2011
:
NOTE2-ShareCapitata) Particulars of Authorlsed, lssued, Subscribed and Paid up Share Capital
Entire Share Capital
b) Reconciliation
L held by Govemment Orぬ harasht話 and iも Nolninees
of Shares
C)Sharehoidlng Pattern‐ Detalis Of shareholders hOldng mOre than 5%
…
Ompany are as under:
“
、
Authorised
5,0O,0m Equiry Shares of k. lm ee.h
l5sucd
Equity Shares of fu. tmeach
Subscrlbed & patd up
Equity Shares of Rs. tOO each fuuy paid
Total
5′ Oo,o00 51Xl∞ 5,∞ ,α
"5∞ ∞
3,95,α
"
3,95,000
39500
39500
3,95,000
3,95,000
39500
39500
Entire
――
― 一 ― ― ― ― ― ― ― ― ―
¨ ¨― ―
¨ ― ― ‐
… … … … …… …
‐ ‐ ¨ ‐ ‥ ‐ ‐ ‐ ‐ 由 由 ¨ ¨ ‐ ‐ ‐ ‐ ¨ ‐
… …
¨ ¨ ¨ ‐ ¨ ¨ 占
…
__¨ ¨ _
`o croco2012‐ 2013
R― es e Surplus
Balance as per last Balance Sheet
Net p「。rit′ (Loss)For the year
Total
NOTE3-Reseryes&
Rerer Note 21
NOTES :
I Interest free loan of RS.4OO Lacs sanctioned by the Govemment of iilaharashtra for Vasai-VirarProiect for which terms of repayment are yet to be finalised.
2 M.U.D.P Loan of R5. 8.42 Lacs (previous year 120.81 Lacs) : 55* repayabte to the Government ofilaharashtra and 45X to llltRDA. Reparable in Halt yearty tnstattmants
3 Loan from A l,tRDA under i egacity Scheme @ 3% : Repayable rn Half yearty tnstaltment
4 Loan from Mi RDA under Megacity Scheme @ 6% : Repayable in Half yearty Insta[ment5 Refer Note 1 & 2i.
a)OOVERNMENT OF MAHARASHTRA AND“ υDPb)GCIVERNMENT oF MAHARASIFrRA‐ VASAI VIRAR
Navi Mlmbai Pror€.t is behg devetaP€d by th€ corporarion for and oo behalf of the Govemmenr of Maharashrravlde its Resotution No.Ct0.2O72-U dated ltrh January, t974 and No.CtD-20E4-1320- l O1 .84/ UD-4 of GeneralMministratim Department and lJrban Devetopmenr Deparrmmt respedively of ttle Governm€nt or raaharashrra.
Land adneasunng 20,'m5.2(20,'{05.r) He<tares has been handed over by the covernmenL of Maharashva to theCoQoration for the purf,ose of development oI Navi Mumbai proiect includ,ng 5,289.a0 (5,289.aO) Hectares ofGovernment tand. The paymeni amqntinS to Rs. 351.90 Cro.e (previor,s ye.r Fs. 351.90 Crore) made by theGoyemment of ilaharashtra for land admeasuring 14,461.m (14,,151.00 ) He(tares has nor been reflectert tn theacccrnts of tj)e Corp6ratim as tlle Corpora on is .te!€loping Navi ltumbai pror€d on behalf of Govem n€rr .,
lo additlon to ttE Excess of Receipt over Expendlture of Rs. 1,95,52.7t Lacs (previous year Rs. 2,!5,619.21Lacs), d€posltreceived fron projFcriv€ buye6 or renemenrs/srrcF/plots is Rs. ;,67,221.9,t tacs (previous yearRs. 4,49,/04.07 Lacs).
Expendrture on Navi Mumbai pmje.r irrtudE cost ot frxed assets (sateabl€ n.ucture) orher than rixed arrersincluded in Note 10.
The Company hai not mainrained prop€r records ,lrcwiry full pankutaG mctuding, quantitative detaits andsltuation of fix€d arsets.
Exces Proyisioo WriR€n off inctudej rho.t reversaL of provirions relat€d ro water Charges Recoverable, DpCReroverable and Service Charges Recoverable of earlier years.
Refer ilote l E2l
t`rノ
とめ́
`,g7aco2012‐2013
NOTE 5(1)(A)
NAVI UATBAI PROJECT OVER}IEADs
to and Provrrion for Emptoyees
and Maintenence
a)For Bullding
b)Fo「 others
11,60656
5,33707
1,01865
14,02657
1,01557
222 33
10,35087
4,28565
70283
8.31644
1,“ 1 53
21011
26,5274333,226.75lnterGt Recetved (B)
56,78201
30.25531Add:a)Atl∝ atiOn Of●verheads frOm New Townsat 0 5%of their Capitat Cxpenditure du■ ng theyear
b)Alt∝ at10n of overheads frOm NMSEZ at
1%。l the ca● ta Expendlture du■ ng the year
325
009
…
Nae■ 1》 44,05398 30,25872
`ヽ '
Rs. ln Lacs
PAY“ENT TO AND PROviS10N FOR ttPLoYEES‐ NAVl“u“BAl
7,34764mn...snt.. as on 3rst l{.r(h 2otl 7,25744 7.33508
イ)幣q20122013
| `
NOTE 5(4)
VハSA]‐VIRAR PRQIECT ACCOuNT‐ NEW
NOrE 5(5)
TARAPUR PROJECT ACCouNT
EXPENDrruRE DURING THE YEAR
Physicat lnfrastructure
Repaiら 亀Maintenance
EstabliҬ t Expenxs
Administnt"e Expenses
lnterei paid
RECEIPT! DI'RING THE YEItr
Addhlon l Lea* prenium
Recejpts Peatahng to poJect
tevelopflrrt Charges
4 83
001
362
062
4589
213
435
Ex.es ot R€.eipt over Exp€ndirurc for rhe year
E cess of R*€ipr der Expenditure b/f frcm rhe pBious yea.0," to co'*n,'*nt
"r r.h",.,r,tIiE rGEIr,-i6r r
EXPEND[TuRE DuRING THE YEAR
Purchase Or water
Repai、 c Maintenance
Establinmnt hpens
Adminittrauve bpentts
Changes in lnventory
interest Pald
Depreciation
791
343
2 83
024
1 93
00,
123,
5`2
521
001
4 76
001
RECEIPT5 DURII{G THE YEAR
SeM.e Charges
Additlonat Lea- premlum
t1.72 | e.ut25,1 703
10.67 | o.o9
tx.ess oi Re.eipt over Expendirure for the yearEx.ess of Receipr over Expenditure b/f from !h€ previous year
―― 一―――――――――――――――――‐‐¨¨¨¨¨¨‐¨………
ⅢⅡ■ⅡⅢⅡⅡⅡⅡⅡⅡ■■
“
■ⅡⅢⅢⅢ…ⅡⅡⅡⅡ■
"由■中ⅢⅢⅢⅢⅢ■
` =■■ビN`五十
NOTE 5(6)
AURANGABAD,“ HASMAL PROJECT ACCOuNT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
`)・
oでo
2012‐ 2013
35881
316
1053
112
002
775
147
2334
4.15523
11815
106 56
1,614 15
0ω
019
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,★
1
2
3
4
5
6
7
3
,
10
11
12
,3
14
15
,`
17
18
EXPENOITURE DURING THE YEAR
lnvestlgatlon and pretihinary Works
L.nd & Area Development
warer Suppty & Sewerage
EstablBhm€nt &penr€3Adminisrative & Other Expenres
llvl ltumbai (rerheadr CharEed
R.p.iR & l{atnrenan€e &pensc.
Prlor Pe.iod Expenditure
Damage & ons€rvisable rto.kProvision for Doubrut Oebrs
BuiLdinE
1 27
'347
004
52421
16'08
0'3
4667
786
276
1,05776
9252
036
975 15
028
0361420
531
307
11 98
43074
15555
075
018
2441
96●
RECEIPTS DURING THE YEAR
sale of Shops & Stau5
S€Mte Charges
tdmlnistrative CharSes
Development Charges
Mdihonal Leas€ premium
Mlscellaneous Receipts
E!(ers Provisioos / Deposii Writren BackProlit on saLe ot Fixed AseB
073
001
703
2 19
8 14
22885
92,1
10301
11643
025
E(cess of Re(eipr o\€r Expenditure for the yearExcese ot Recerpr ,vcr Frpendtture b/t from the previoG yeiro,.c to co,em-ont or irai,arastrt,iiinll-st,rG,cl-zoii
Ac€ss of Receipr over Erpendnure fo. the yearExcess of R€Eeipt ovEr Expendture b/f frorn ihe previDu, year
(26754)
34989Due to cOvternment Or‐harashtra as On 315t hrCh 2013
1ヽ,■タノ
―
―
イ)・7Dc9
2012‐ 2013
NOTE 6・ Short Term
Secured
Loans repayable on demand
from bankr (Secured againsr pledge of Fixed Deposit
lrns€<ured
) Governhent of Maharashtra and M.u.D.p.) Loan from
^{A{RDA under EGACITY SCHEIIE Gt 3X
C)10an from“
“
RDA under MEGACITY SCHEME o 6%
TOtal
2
3
4
I'i.U.o.P. Loan of Rs. 110.79 tncs (previous yea( tg1.2B Lacs): SsX repafabte to the Goyemment of'$aiarashtraand 45X to t,llRDA. Repayabte in Half yearly tnstaltmsltLoan irom ilrruoA under j$€gacity kheme O lt : Repay;ble in Hat, yearty lnstaltmentLoan from MI{RDA under i,tegacity Scheme O 6X : Repayabte jn Hatf yearl; hstaltmen;ReferNotel&21.
b. OthertCompleted ConstructionlJnsold Jenemmt & lJnsotd Cohmercial Structure
l Trade Receivable inctudes an amount of Rs. 12,052.22 Lacs (Rs. 12,121.29 Lacs) being ctaims recoverablefrom various Contractors and others.
2 Payments made to MWSSB, SEB, Speciat Land Acquisitlcn Officer, Supplier, Contractors, Employee erc. forwater & Electricity Charge5, Advances for Land Acquisttion, etc. are ,ubJe€t to reconciliation and
3 ctaims RecoverabLe from HuDco inctudes disputed rnterest of Rs. 7.30 tacs (Rs.7.i0 Lacs) & Fine & forfertureRecoverabte of R5. 4.20 Lacs (Rs.4.20 Lacs).
4 ctaims Re.overabte include an amount of Rs.238.15 La6 rRs.238.rj Lacs) due {rom xadic * ac.o-uti ottransfer ot Assets. Ihe same has not beeo contirmed by Nt l,tc. :: I , ,-_,
- :j5 Refer point no. 3.3 & 4 of Note zl.
\' r' \ t t ':
&@'
Note 15‐ Trade Recelvables
rade receivabtes outstanding for a period less than simonths kom the date they are due for paymentUns€cured, consjdered good
Less: Provisrcn for doubtful debts
receivables outstandlng for a period excee<,ing simOnthSfronthedatetheyaredueforpaⅢ ent 1 60,20778
unsecured,considered goOd
Less: Provrrion for doubrful debts2,95714
3,90635 3,94144
3,90635 3,94144
59,53409
1,lX9 42
58,52467
`)“
re2012‐ 2013
'16 - Cash and cash
a Balances v"th banks
Scheduled Banks
ln Current Ac(ounts
in F,xed DepOsits
in Flxed Denosits sDR
Ncln Scheduled Banks
in Current AccOunts
:nF破ed OepOsits
Cheques, drafts on hand
7,53561
7,4',2∞ 18
252 7,56,73838
3,554 81
5,81,34287
2,141 23 5,87.03891
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20122013
NOTE 16 Continued
Balances yath Non Scheduled Banks
イThe Nanded Dist間 ct
2 Rerer Note l Ft 21
Central CO‐ op Bank,Nanded is under liquidatiOn(Reror Point No 2 5 of Note 21)
NoTE 17‐ shcrt Term Loans Cハ d■anc“
”ヽ、
‐,ソ´ヽ■シ´
・^
ン一一
:N CuRRENT ACCouNT:
酬霞d‖鳩:Ttt C°"District Central Co-op.
nk Ltd ,A/cNo o2
'甲
d ●Stnct central cO‐ OpBank ttd,New Panvet
IN FIXED DEPOS「:
譜肥dl譜胤Centd C・
"
774
222
262
774
222
454
774
222
1216
774
222
7333
774 1 774
222 1 222
027 1 07,
2.16 | 2.t5
l Staff Advanc“
unsecured cmsldered goOd
l Prepaid Expen螂
2. Eoployees Contribution to CpF3. Other Mvances
19038
1 '3
1,29〕 54
41 60
31456637
緊一八〇
1'9w22012-2013
lqTE 18 - Other Current A!s€t5
tnterest Acc'ued but not dGiiEGliEher lnterest Accrued and doe
4't,910.
!9!e 19 - Revenue trom opa.adon
Note 20 - Earntng Fer Share
t (Rs- in Lacs)
Shted Average numb€. of equity shares used forcomputing Earnin8 per Share (Basic & Diluted)Earning Per Share (Basrc and Dituted) (Rs.)
Face value per share (tu.)
5.00
3,95,000
1.27
r m,00
5.00
1,95,000
1.27
100.00
NOTE‐ 21
`.●
‐●
20122013
(に in l‐・・)
1 tn tre optnton ot tne aoaa,GiEffi aniAdvances .re appronmately of rhe vaLu€ stated. itreaLired in the o.dinary cou.se of brEnEs3. Also, rh€prorsionr ror depre€iarion and au known tiabilitiesare adeqGte and not in excess oI arbunt (onsidered
or wa(er (narges rrom ptots andreneri€nrs hotdefi as appea.tng as per b@ts oriccounts of New Nancted. h the opinion of theftlnacemnl n. 16(( i rnir-r^.r-i
`364513956
5 An
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3
31
32
33
4,30567
―
3,631 32
223658
3,91M28
L01,97766269カ
1 63,7228467
1.416024 No adjustma;i;;;F;-;;;;-; : .1
];■:[usted h Annexure 2 orth卜ぃ。
2)L:ab,tities 3,202o81,642 65
52023814965 som adva.ces c6;;;-; . ;;.: -;:---i=J
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0,D1023 5 865 3, 1'35717_
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`,9__201220,3
in Ls)
r,ances to rr ueinfiEGEi;iiifriE,
『器器鵠 tt『 盤朧]ly鷺
wnich are included uMer Lcns and AdydrEes.
柵 “Ъ島ど孟よ1鳳t日蹴 i∬a{
No depre(rarion has b€€an ;hfite;;-hed-;GGh the Na■
“
un“ i
Laanr .na ftvences -ncr,,ac-aa,iid-gi,; in
sum of tu.6.62 rar,h was gE"teo_lo rrsE8 r.n-
1983 84 for Ю rk OF Sh,rting the pOwer
the Raltw,une L ad,¨ has
郷 k需(熙糊。胤 :なこ∴Gharsoti. Itle .drustment of saiC aOnrre ias ,rot
&rcunr or Rs. 7o-m r"akE-wa;iiE;G'TwD.
芸TⅧ %f器島7t胤出まき・押tl)mΨttS品1雪測「Tdf撃
摯tl':R The.me、 nOt yet adust島 橋「1″:I:
ツキ1響蔵:乱常1罵雷L品署『
洲
hterest,Guarantee Fees and hddental ExttI:こ 品i
:- SL,rch.rge Re.eived tifi date.et Arnounr dre from Fni
F°Trit聖1・m』l翼繋]ire[錦:」ti′y
柩 '等罪NttL:か
憮i漱Ψtt mf7淵sfttt鴇
lW聖侃れ肥蹴 樫贈潔画ls.Los€d in Note fi lr- cr.*m 1n".r,...i.
鵠罫肥∫7畔織:鵠i需:融
,C‐「Ъ謄匙よh:話°T。1温潜肥31話a詐 鵡 器嗜f雪藷鶯メ糧ギ]:ド‖常1蹴蝸語ヤ″i]器
t留
:贈増堵出」:了語膏CI肌
[
い 、
53 583 21
36366,317246
53,583 2,
θ
Balanc€s outstanding at rhe;nd;f rhe ye". rra,. noiconliftred in r6p€rt of Loanr 6
R€(overable or Payabt€ ro contractorsi advafEes rc10rs“ SEB,N"MC,ぃ RDC,MsRTC,MPc BDarO.
lfP性“い
S3."DC,Pwo,ONGC.肛 Nし,N■ EZ,
, sundry Debtors, Depostr from Bu)€rs andin caF OrNa■
“
」m“ i
14,483 32
50267
12,9167850267
tive recoror rn respect oi!6ffiEl.luireo-constructd/ sold are mainiatned / recon€iled
驚肥鳳盤Fぉ熙 肌翠閣Prole.t, Durtng the (ourse of a.qulsition
器erlsⅢ霊淵laV宙:肥t静ギ1躍
馨踏°3ttt°wi肝∬
t犠盤 電‖
11・1,ur elヽ轟l:°期∫11胤記iTRどitS jUd8-t in the year 1994, enhanced
ギ践器rlぶ霊∴認d品 糀退tTl露 11L譜胤温i認患,‰fttnd“
。Ю■“∽Sdiだ
"t he'乱
絶常=驚
Ъ器捏瑠∬]:胃1
蜀i糧∬新紺盤熙驚露需l]埠卍10 12% under,3=,On 23‐ 1(A)oi the LandAct, 1E94. Lcordtngly, Co.poration rmlpayrnenr of Rr. tE.E8 crore h rhe High coun
mttta錦常l牌温lf腑懸譜LttlF脱濯蹴
而S'd` いe HOrln view of rhe judgrEnr dnd the order or the Hon.bre
Ⅷ細 :詰喘器ご器r糧熙鳳1∬Ⅷ淵:彗胤11鷹:lCどΨ認選讐認M、n需調‖,輌
n htrest h5“ t been
瘍 ]
器肝“ωmt` prepa“ ●a口面[1「高
…̈踊Ⅷ歳盪
イ.“o“
201220,3
(ItS in tacs)
1, 1
anEtrlt of Rr.23,75, 1 is shown as tnrerestReceTvable FЮ n Shahu Shiに han sanstha for eartler
whlch is not recovcred rince tory and ti is notpЮper tO recogni2e interett as a lncOme in prOleCt
account As pe「 B R No 9980 dated lo′ 10′ 2008 suchterest on tare paynEnt/ non paFEnt i5 waived by
board. Howeve. govt. approvat fo. rhe sahe isnot yet obtained. Thus rhere is revenue toss of
Land adnEasuring 217 aErer unt rO C,,,,tr,u, r"i-di&. rhanded over by rhe Govemment of l/tahara3htra
to the Corporarion lree of cosr in 1973.74. Howeve,,pursuanc€ to Govemmr Resotutioo No. LND/′2822 CR‐ 663′ 5 or 9th ApHl ,980,
■■静諾鷺瀾:濡 ]脱乳臆よ鵠駅〕irG‖lis菖品二sTT縫Govemment at pr_nt narket vatue, tO be“ xedthe Coltecror, New Aurang.bad. pend
::肥思:Ъttstta蹂 胤讐ぼ城ヵA.re has been rnade in the a..ounts_ No addiliabitity ls exp€.ted by th€ CorpoEtioo. Th€ land 13 inthe poslerilon of (orporation and under developmenrthough tt'e lqal oMerjhip has not yet tranrte[ed ro
are various advan€es/deposits outstanOing at-unit levet since tong tim and no ccnsi&rable
躙野単淵HI躙おびh日もth詢成tnur` the requiret information,,as underiA DLd“ ur● ●f hterestin the■ int ventur“(」。intり contr● [ied En● ue,)
B clDco's th'G h t$ts,li"6llhret,trcorn ,e,e.n-!,cntrntenr rabira6 ind .pttir Gmh..renr! or Jorniry conrror.d Enritr6:
hnt P.rnn.t.nd i.tared plnrB
l.lm. ot R.t.t.d p.nter
ヽに一‐
Name
塾J Pttr酬 由鹿
一
2
n lamBwtth iletat.d panbr
31st March 201 3tttn rch 2ot2unsEuredLon Van vrar
hts6t A.c.Ed on Lcn to
…
198∞Araharturism Corpo.arion Linited ( Ct)]
G@rnrenr ot M.harasht.a
NaⅥ MJmbaiSEZ Pvt ,lSt ibrch 2012
,,31,,14 3,
4 t gp'*2012.2013
22. The Corporation,s income was exempt from payment of lncome Tax pursuant tothe provisions of Section 10(2OA) of the lncome Tax Act, 1961. This Section has beenwithdrawn by the Finance Act, 2002, thereby subjecting the income of theCorporation to be taxed under the provisions of the lncome Tax Act.
The ITAT, Mumbai Bench ,C,vide order in tTA No. 2965/M/2012 dated 08/08/2012for the Assessment year 2006-07 and The lr,AT, Mumbai vide order in ITA No.41781,379 e. 43,83tttumlac13 dated 1Bt1ZtZO14 for the Assessment year 2003_04,20fi-05 & 2005-06 have hetd that the Co.poration being an agent of theGovernment of Maharashtra under the provision of section ,l13 (jA) and section 40(1) (b) read with section ,l13 (3A) of the [iaharashtra Regionat and Town ptanningAct '1966 is liabte to lncome Tax onty in respect of Agency Remuneration receivedfrom the Government of r{aharashtra after deduction of expenses incurred for thepurpose of earning such income.
The ITAT further held that:
'1. There is no business actiyity of Corporation on its own.
2. ALI expenses incurred by the Corporation whether capital or revenue, are onbehatf of the Government of retaharashtra.
Honorable Bombay Hieh court in writ petition No. 1211 0f 2009 in the case ofPercivat Joseph pareira v/s The speciat Land acquisition offrce!. and cthers held thatCorporation is an agent of the Government of the Maharashtra.
ln view of this, no provision has beensurprus in New rowns; sim*arry
"" r,:;:::TH":'il:JllTj:ffi:,;ll:Mumbai project as the corporation is acting as an agent of the Government ofMaharashtra. l-he entire receipts have been credited to the projecr. Accouni.6:;:.recovery of cost and are not treated as revenue in the Books or a..ornt, eibffiFrr.)z.corporation. --- -'(?1."" ,l_l
") :.,jy,1 llll:ltli"L Devetopment Corporation of rrtaharashtra Limited (ctDco)was rncorporated on 17- r arch 1970. The Government of , aharashtra videGovernment._Re_sotution (GR) No.lDL 5ZOltND-t aaieO fgttr f$aictr, tsZOentrusted CIDCO to act as an agent of Government of t*atrarainVa fordevetopment of Trans -Thana and lrans-Harbour u."", in uii=n,-p-an""t
"naThane Tehsil with a view to secure rhe ob;ective oi Oecone"riii.,a inorrtriu.and other concentrations in Bombay and *iir, "
,i"* g"n"-r"iiv io?esotve ttreprobtems of urban congestion in Bombay City.
b) Ifr!-Gor"rn."nt of r,iaharashtra vide Government Resolution (GRt No. CID _2072-u dated 24th January, i972 issued finan:ini ;;i;;;onl riiiperation orLruLU. As per the instructions in the GR, CIDCO shoutd undertake att thedevelopment work, provide so(iat and pr,vs;cat inriaitir.t-*J'ioluit"in tn"objectives taid down in (GR) No.tDL srzoirilo-i a"t"J iin- ir"i-.r,:'rguo o,behatf of rhe covernment. ttoco *", sir"" p"*"i io diipol-oi,,t" t"naacquired by the Government and to incu; expenditrr"i on O'"rlfoir.nt *ortout of sate proceeds of tand. The proceeds whi.f, l. a U. ii.,ir"ruo fr".sale of land acquired by the Government are payable to the Government afteradjusting devetopment expenditures, admini;tr;tive expenaitr.", una ug"n.yremuneration restricted to Rs. 5,OO,0OO/- per year.
c) CIDCO was apDointed as SDeciat Town planning Authority/DevetopmentAuthority for the new towns of t"* lurungal"al li"",, i"rji, ,ilivIr.,"""o"a ",.by the Government of tiaharashtra. in e-xer-cise or p"r"ii-l_i"'rrJiv .t"r*(b) of sub-section (1) of section lo or trre r,raiiaiasrriii
-n.gi";.i";a r"lv,Ptanning Act, 1966. As per provrsrcns ot section 113 (3A) of the aharashtraRegional and Town ptan;ing Act,.1965, the Speciat To-wi
-pt-iiniirthorttyhas to work as an agent of the State Government.
d, Th€ C&AG appointed Statutory Auditors have observed that there ts nodifference in the status of irDco beins th; tAs;;;;i';ilri'rient orI'laharashtra' either in Navi Mumbai or New Towns"of auiarg"l"j,'il"rf,it,Nanded, vasai-virar and other New Towni pr"di;.- fr; ;iiff'aoro,n,"ostatutory Auditors have observed tnat wrreie- iiocij
-o-T-r"-#' ,o*nDevetopmsirl Authority for Navi Mumbai o, speciat ioi-n p;n;in;;;thority
l9r N:y royll_ol.Auransabad, nasrr*, NanJiJ eii. ;;;.r'il'l;;f;;." ,":S:,"": "j crDco as the agent of Government ,in"i,".#iil iiii]fco i,the agent of Government of tr{aharashtra ro, Nu"i rllr_tuiunaiit o',i"l- *"*I:y1_:lo gc:grdlncly, the surprus / deficit eithei ,"ii"ii"i i" pr"-rila 1""account or irr the project Account, hclongs to Govcrr"ori o-f frhrr#tiu. , ;.",,,independent opinion-on zz r ozj iorii.- ii hir?l,"iii""j",t'j[tr
――
―
Let**zo12-2013
prepare Project Account for all the projects i.e. Aurangabad, Nashik, Nanded,Watuj, ahismat, Jatna, Latur, Nagpur etc. on the same lines as that of NaviMumbai Prorect, since CIDCO is acting as an agent of Govt, of Maharashtra,,. ltfs approved in the Board on 26I0UZO14 atong with Annual Accounts for thefinanciat year 2011-12.
ln the above back ground, ,yianagement is of optnion that to prepare separateproject accounts for each projects. Upto financiat year Zott-l2, CTDCO rspreparing Profit and Loss Account of New Nashik, New Nanded, NewAurangabad, OROS, Nagpur, Tarapur, Mhajsmal Branch but from the fi;anciatyear 20'12-13 Project account is prepared for each of these. Due to this,
1. Credit Balances shry{n in Reserve and Surptus amountinc of Rs.1.41.56.64.186 as reflected in Batance Sheet upto financiat year-2011_iZOut of which net Credit Batance of Rs.1 .45.1i0.67.545 is ionstaerea asopening batance of Aurangabad, Nashik, Nanded, Niq; Taraour proiectaccounts and Debit Batance of gf6__lLQLj5g is ad]isted in ttavt rrlumUaiProject account for the finaniiaifiii-r ended 3iL M;;tr zoi j. ir.o,tBatance of Bs.?.07,00.000 is considered as opening Uatini. J {ere*e ASurptus of the Corporation.
2. lnventory amounting of Rs.19.52,04.g91 is transferred to resoectiveProject accounts during the financial year ended 31'r March 20.13.
Previous year figures are regrouped and rearranged whenever considerednecessary,
Effects of Changes ln Accounting pollcy
Considering . a-bove, accounting poticy for vafuation of inventory. internalrnrerest and Head office overhead is dis€ontinued from the fininciat year
2012-13-
lf the-same accounting policy is fouowed by the company during the financiatyear 2012-13 as followed in the financiai year 26t,t1fi, th; bala;c;;- ofrespective account head as on 31st Atarch 201j wouiO be as under;-