1 Contingent Liabilities & Commitments
 
 i) The amount remaining to be executed on capital account not provided
 for is Rs. 2452.16 crores (Rs. 1926.84 crores).  The amount remaining
 to be executed on revenue account not provided for is Rs. 11587.51
 crores (Rs. 10506.38 crores).
 
 ii) Claims against the company not acknowledged as debt are Rs.
 16523.41 crores (Rs. 12694.14crores).
 
 iii) Outstanding letters of credit amounted to Rs. 253.09 crores (Rs.
 310.70 crores).
 
 iv) The Company has given counter-guarantee to Government of India for
 loans obtained from JBIC & IBRD Banks and on lent to its Subsidiaries.
 The outstanding balance as on 31.03.2013 stood at Rs. 550.43 crores
 (Rs. 720.10 crores) and Rs. 585.80 crores (Rs. 642.62 crores)
 respectively.
 
 Further, the Company has also given guarantee for loans obtained by
 subsidiaries from Export Development Bank of Canada (EDC) and Liebherr
 France the outstanding balance of which as on 31.03.2013 stood at Rs.
 160.35 crores (Rs. 155.63 crores) and Rs. 8.72 crores (Rs. 9.03 crores)
 respectively.
 
 v) Outstanding Deferred Payment Guarantee issued by banks amounted to
 Rs. 23.36 crores (Rs. 4.42 crores).
 
 2 Basis of Preparation of Financial Statements
 
 i) The financial statements of the subsidiaries used in the
 consolidation are drawn up to the same reporting date as that of the
 Parent Company, i.e. year ending 31st March, 2013.
 
 ii) The financial statements have been prepared under the historical
 cost convention and on the accrual basis of accounting. The accounts of
 the subsidiaries have been prepared in accordance with the Accounting
 Standards issued by the Institute of Chartered Accountants of India and
 on the basis of accounting principles generally accepted in India.
 
 iii) The financial statements have been prepared in line with the
 requirements of Revised Schedule-VI of Companies Act, 1956 as
 introduced by the Ministry of Corporate Affairs from financial year
 ended on 31st March 2012.  Accordingly, assets and liabilities are
 classified between current and non-current considering 12 months period
 as operating cycle. The adoption of Revised Schedule- VI does not
 impact recognition and measurement principles followed for preparation
 of consolidated financial statements. However, it has sufficient impact
 on presentation and disclosures made in the financial statements.
 Consequently, the company has re-classified previous years figures
 to conform to this years classification.
 
 3 Principles of Consolidation and Financial Reporting of Interest in
 Joint Venture and Overseas Subsidiary.
 
 i) The consolidated financial statements relate to Coal India Limited,
 its wholly owned subsidiary companies, namely Eastern Coalfields
 Limited (ECL), Bharat Coking Coal Limited (BCCL), Central Coalfields
 Limited (CCL), Northern Coalfields Limited (NCL), Western Coalfields
 Limited (WCL), South Eastern Coalfields Limited (SECL), Mahanadi
 Coalfields Limited (MCL), Central Mine Planning & Design Institute
 Limited (CMPDIL) & Coal India Africana Limitada (Overseas Subsidiary),
 proportionate stake in International Coal Venture Pvt. Limited (ICVL)
 and CIL- NTPC Urja Pvt. Ltd.
 
 ii) The financial statements of MCL has been consolidated with its
 three subsidiary companies - MNH Shakti Limited, MJSJ Coal Limited and
 Mahanadi Basin Power Limited.
 
 iii) The financial statements of the company and its subsidiary
 companies are combined on a line-by-line basis adding together the book
 values of like items of assets, liabilities, income and expenses, after
 fully eliminating intra-group balances and intra-group transactions
 resulting in unrealised profits or losses in accordance with Accounting
 Standard- 21  Consolidated Financial Statements issued by the
 Institute of Chartered Accountants of India. However the
 non-recognition of interest in holding companys accounts from one of
 its subsidiaries ( as per Accounting Standard-9 ) has been ignored in
 such consolidation
 
 iv) Significant Accounting Policies and Notes to these Consolidated
 Financial Statements are intended to serve as a means of informative
 disclosure and a guide for better understanding the consolidated
 position of the companies.  Recognizing this purpose, the Company has
 disclosed only such Policies and Notes from individual financial
 statements, which fairly present the needed disclosure.
 
 v) CIL has entered into a Memorandum of Understanding (vide approval
 from its Board in 237th meeting held on 24th November, 2007) regarding
 formation of Special Purpose Vehicle (SPV) through joint venture
 involving CIL/ SAIL/RINL/NTPC & NMDC for acquisition of coking coal
 properties abroad. The formation of the SPV had been approved by the
 Cabinet, Govt. of India, vide its approval dated 8th November, 2007.The
 aforesaid SPV viz.  International Coal Ventures Pvt. Ltd. has been
 formed by incorporation under Companies Act, 1956 on 20th May: 2009
 with an authorised capital of Rs. 1.00 crores and paid up capital of
 Rs. 0.70 crores. The authorised Capital and paid up Capital as on
 31.03.2013 stood at Rs. 1110.00 crores and Rs. 9.80 crores
 respectively. Out of above paid up capital, Coal India Ltd. is owning
 2/7th share i.e. worth Rs. 2.80 crores face value of equity shares.
 
 vi) The consolidated financial statements include the interest of the
 company in the above joint venture (International Coal Ventures Pvt.
 Ltd.) which has been accounted for using the proportionate
 consolidation method of accounting and reporting whereby the
 companys share of each asset, liability of a jointly controlled
 entity has been considered.  Such accounting has been carried out
 considering the latest available un-audited financial statements as on
 31.03.2013.
 
 vii) CIL NTPC Urja Pvt. Ltd., a 50 : 50 Joint Venture Company was
 formed on 27th April2010 between CIL & NTPC and CIL has invested Rs.
 0.02 crores as on 31.03.2013. The un-audited Accounts of the above
 joint venture company upto the year ended 31.03.2013 has been
 considered in consolidation.
 
 viii) On incorporation of subsidiaries on the basis of joint venture
 agreement as per directives from the Ministry of Coal, Mahanadi
 Coalfields Ltd has deposited money / transferred debits for capital and
 other expenditure.
 
 ix) In terms of Memorandum of Understanding (MOU) signed on 03.11.2012
 between South Eastern Coalfields Limited (SECL), IRCON International
 Limited (IRCON) and the Government of Chhattisgarh (GoCG) for
 establishment of two Railway Corridors viz., East Corridor and East
 West Corridor, two(2) Subsidiary Companies of SECL have been
 Incorporated under the Companies Act,1956 viz., M/s Chhattisgarh East
 Railway Limited (CERL) incorporated on 12.03.2013 and M/s. Chhattisgarh
 East-West Railway Limited (CEWRL) incorporated on 25.03.2013 with an
 Authorised Capital of Rs. 5.00 Crores each.
 
 x) Investment in Subsidiary (Overseas)
 
 Coal India Ltd., formed a 100% owned subsidiary in Republic of
 Mozambique, named Coal India Africana Limitada. The initial paid
 up capital on such formation (known as Quota Capital) was Rs.
 0.01 Crores (USD 1000), The un-audited Accounts of the above subsidiary
 company upto the year ended 31.03.2013 has been considered in
 consolidation.
 
 4 Provision for Employee Benefits
 
 The year-end liability of certain other employee benefits like
 Gratuity, Earned Leave, Life Cover Scheme, Settlement Allowance, Group
 Personal Accident Insurance Scheme, Leave Travel Concession, Medical
 Benefits for Retired Executives, Compensation to dependants incase of
 mine accidental death are valued on actuarial basis. Total liability as
 on 31.03.2013 based on valuation made by the Actuary, details of which
 are mentioned below is Rs. 17403.60 crores.
 
 5 In BCCL expenditure of erstwhile Kustore Area (now merged with PB
 Area) is under investigation by different authorities. Bills lying
 amounting to Rs. 24.44 crores has been considered as Contingent
 Liabilities due to pending decision,
 
 6 Eastern Coalfields Limited and Bharat Coking Coal Limited
 
 ECL had become sick and were referred to BIFR under Sick Industrial
 Company (Special Provisions) Act, 1985, The revival plan/ scheme of ECL
 had already been approved by BIFR and thereafter vetted by the
 concerned ministry
 
 During the year further investment in 5% redeemable cumulative
 preference share in BCCL (redeemable at par compulsorily after seven
 years from the date of issue or after five years at the option of CIL)
 was made by way of conversion of past loan to BCCL of Rs. 1083.00 crore
 and current account balance (receivable from BCCL) of Rs. 1456 crore.
 By giving effect to the above issuance of the Preference Shares by BCCL
 to CIL, CIL no longer remained a creditor of BCCL with respect to these
 funds. Based on this mutually agreed mechanism between BCCL and CIL,
 the waiver of the funds by CIL, as required by the Scheme, was
 implemented by converting such funds into subscription monies for
 issuance of the Preference Shares to CIL,
 
 On the basis of waivers (of past loan of Rs. 1083 crore and current
 account balance of Rs. 1456.00 crore) by CIL, under the scheme, BCCL
 reported positive net worth. As part of the ongoing proceedings before
 the Honble Board, on February, 14, 2013, the Honble Board
 concluded in its order that BCCL had ceased to be a sick industry
 company in terms of the Sick Industrial Companies (Special Provisions)
 Act,1985 (SICA), and directed inter-alia that provisions of the
 sanctioned scheme, if any would be implemented by all concerned.
 
 The implementation of the revival scheme in ECL will substantially
 improve the financial position of the company.
 
 7 Discontinuing Operation
 
 i) CBE Plant, Bhandra - Western Coalfields Limited:
 
 The Plant used to manufacture Nitro-Glycerine based Permitted
 Explosives used in the underground mines of the Company till its
 closure on 28.04.2003. Consequent upon decision of the Government of
 India to discontinue/ban production of NG-based explosives in the
 country and its adoption by the Board of Ordnance Factories of India,
 the Jt. Venture partner of the Plant, the Plant was closed on and from
 28.04.2003.
 
 CIL had given its approval for disposal of the Plant and the Company in
 its 197th Board Meeting held on 19.04.2006 had approved the disposal of
 P&M by tendering/e-auction and accordingly the P&M along with related
 stores & spares have been disposed off during 2006-07 by auction
 through MSTC. The Net Block of assets pending disposal is Rs. 0.08
 crores. The liability towards Overheads after closure of the Plant till
 31.03.2013 for maintenance and upkeep of the Plant is Rs. 0.40 crores.
 
 The revenue expenses incurred during the current year is Nil (Previous
 Year Nil). Since the Plant works on No- Profit-No-Loss basis, all
 expenses are passed on to the Areas. Hence there is no question of
 profit/loss. There is no cash outflow attributable to operating,
 investing and financing of discontinuance (Previous Year Nil).
 
 ii) DFD Plant, Hinganghat, Western Coalfields Limited:
 
 The Plant used to manufacture Coal Briquettes from raw coal for
 domestic fuel purposes till its closure in 1994.  Consequent upon
 non-viability of the Plant as per the decision of the Board of the
 Company, the Plant was closed in 1994.
 
 The disposal of the Plant is under process and the exact date of
 completion of discontinuance is not determinable as of now. The Net
 Block of assets pending disposal is Rs. 0.03 crores and the liability
 towards Municipal Taxes is Rs. 0.04 crores. The Company has applied to
 the Hinganghat Nagar Palika for waiver of the Municipal Taxes for the
 past four years on the ground that the Plant is no more in operation.
 The revenue expenses incurred during the current year is Rs. 0.01
 crores (Previous Year Rs. 0.01 crores). Since the Plant is inoperative
 for the past ten years and the final disposal of the Plant is yet to be
 done, there is no question of profit/loss. There is no cash outflow
 attributable to operating, investing and financing of discontinuance.
 
 8 Bharat Coking Coal Limited has received grant under various SSRC/
 EMSC (now included in Master Plan) and R&D Schemes upto 31.03.2013. The
 Company has received Master Plan and R&D Grants upto 31.03.2013 for Rs.
 315.79 crores, and Rs. 1.75 crores respectively. Total expenditure
 incurred against these are as follows:
 
 9 Medical expenses for retired employees (Note-25) of Rs. 285.22
 Crores (Rs. 29.08Crores) includes the actuarial valuation of enhanced
 medical benefits scheme (as per Order No - CIL/C-5A(PC)/CPRMSE/207
 dated 28.12.2012) covering retired employees on and from 01.01.2007.
 
 10 Use of Estimate:
 
 In preparing the financial statements in conformity with Accounting
 Principles generally accepted in India, Management is required to make
 estimates and assumptions that effect the reported amounts of assets
 and liabilities and the disclosures of contingent liability as at the
 date of financial statements and the amount of revenue and expenses
 during the reported period. Actual results would differ from those
 estimates. Any revision to such estimate is recognized in the period
 the same is determined.
 
 11 The Company is primarily engaged in a single segment business of
 Production and sale of Coal. The income from interest and other income
 is less than 10% of the total revenue, hence no separate segment is
 recognized for the same.
 
 12 Figures in the parentheses relates to the previous year.
 
 13 Previous years figures have been regrouped and rearranged wherever
 considered necessary.
 
 14 Note-1 to 19 form part of the Balance Sheet as at 31st March, 2013
 and 20 to 32 form part of Statement of Profit & Loss for the year ended
 on that date. Note-33 represents Significant Accounting Policies and
 Note-34 represents additional notes on the Accounts.