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KSK Energy Ventures
BSE: 532997|NSE: KSK|ISIN: INE143H01015|SECTOR: Power - Generation/Distribution
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Explore KSK Energy Vent connections « Mar 10
Notes to Accounts Year End : Mar '11
1.  CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS
 
 1) Contingent liabilities
 
 Particulars                                     As at March 31
 
                                            2011         2010
 
 Bank guarantees / Letter of credits 
 outstanding                            3,837.54     5,075.90
 
 Corporate guarantees                  10,719.50     5,780.42
 
 2.  OPERATING LEASES
 
 The Company has entered in to certain operating lease agreements. An
 amount of Rs 15.76 (March 31, 2010: Rs.  12.85) paid under such
 agreements has been disclosed as Rent under Administration and
 operating expenses in the Profit and Loss account.
 
 3.  As at March 31, 2011 there are no amounts including interest
 payable to Micro, Small and Medium enterprises as defined under Micro,
 Small and Medium Enterprises Development Act, 2006, based on the
 information available with the Company.
 
 4.  EMPLOYEE BENEFIT PLANS
 
 The Company has a defined benefit gratuity plan. Every employee who has
 completed five years or more of service gets a gratuity on departure at
 15 days salary (last drawn salary) for each completed year of service.
 The scheme is funded with an insurance company in the form of a
 qualifying insurance policy.
 
 5.  RELATED PARTY DISCLOSURES
 
 i) Parties where control exists
 
 Name of the party Relationship
 
 1.  KSK Power Ventur plc Step-up Holding company
 
 2.  KSK Energy Limited, Mauritius Holding company
 
 3.  KSK Electricity Financing India Private Limited Subsidiary company
 
 4.  J R Power Gen Private Limited Subsidiary company
 
 5.  KSK Dibbin Hydro Power Private Limited Subsidiary company
 
 6.  Kameng Dam Hydro Power Private Limited Subsidiary company
 
 7.  KSK Narmada Power Company Private Limited Subsidiary company
 
 8.  KSK Wind Energy Private Limited ( formerly Bahur Power
 
 Company Private Limited) Subsidiary company
 
 9.  KSK Vidarbha Power Company Private Limited Subsidiary company
 
 10.  Sai Maithili Power Company Private Limited Subsidiary company
 
 11.  KSK Wardha Infrastructure Private Limited ( formerly KSK
 Technology
 
 Ventures Private Limited) Subsidiary company
 
 12.  KSK Mahanadi Power Company Limited Subsidiary company
 
 13.  KSK Upper Subansiri Hydro Energy Private Limited Subsidiary
 company
 
 14.  KSK Dinchang Power Company Private Limited Subsidiary company
 
 15.  KSK Jameri Hydro Power Private Limited Subsidiary company
 
 16.  Tila Karnali Hydro Electric Company Private Limited Subsidiary
 company
 
 17.  Sai Regency Power Corporation Private Limited Step-down subsidiary
 
 18.  VS Lignite Power Private Limited Step-down subsidiary
 
 19.  Wardha Power Company Limited Step-down subsidiary
 
 20.  Arasmeta Captive Power Company Private Limited Step-down
 subsidiary
 
 21.  Field Mining and Ispats Limited Step-down subsidiary
 
 ii) Parties where significant influence exists and where the
 transactions have taken place during the year Name of the party
 Relationship
 
 1.  Sitapuram Power Limited Joint venture
 
 2.  S N Nirman Infra Projects Private Limited Fellow subsidiary
 
 3.  KSK Water Infrastructures Private Limited Fellow subsidiary
 
 iii) Key Management Personnel Name of the party Relationship
 
 1.  S. Kishore Whole-time Director
 
 2.  K .A .Sastry Whole-time Director
 
 3.  K .B .Raju Director
 
 6.  SEGMENT REPORTING
 
 The Segment report has been prepared in accordance with the Accounting
 Standard 17 Segment Reporting. There is only one geographical segment
 as all the business and operations of the Company are carried out in
 India.
 
 For the purpose of business segments, the Company is engaged in two
 segments, viz., Project development and power generation.
 
 7. In the opinion of the Board of Directors, sundry debtors, loans and
 advances as at March 31, 2011 stated would be realized in the ordinary
 course of the Company''s business are expected to produce at least the
 amount at which they are stated in the Balance Sheet.
 
 8.  Additional information pursuant to the provisions of Paragraphs 3
 and 4 of Part II of Schedule VI of the Companies Act, 1956 - to the
 extent Not Applicable or Nil has not been furnished.
 
 9.  Demerger of undertaking of Wardha Power Company Limited under
 Scheme of Arrangement under section 391 to 394 read with sections 100
 to 103 of the Companies Act, 1956.
 
 A scheme of arrangement (hereinafter referred to as Scheme) between the
 Wardha Power Company Limited (Transferor Company) and KSK Mahanadi
 Power Company Limited (Transferee Company) and its respective lenders
 and shareholders was approved by the Honorable High Court of Andhra
 Pradesh vide its order dated February 26, 2010. The scheme, amongst
 others, provided demerger of 3600 MW power generating facility at
 Nariyara, Janjgir- Champa District, in the State of Chhattisgarh
 (hereinafter referred to as Demerged Undertaking) on a going-concern
 basis with all its assets and liabilities as defined in the scheme. The
 appointed date for demerger is 1 August, 2009. The scheme has become
 effective from March 31, 2010 and demerged undertaking stands
 transferred to and vest in as a going- concern to transferee company at
 its book values.
 
 10.  The Company has issued 100 million 8% Compulsorily Redeemable
 Preference Shares of Rs 10/- each amounting to Rs. 1,000 to L&T
 Infrastructure Finance Company Limited on October 1, 2010.
 
 11.  Previous year figures have been regrouped / reclassified wherever
 necessary to conform to the current year''s classification.
 
 
 
 
 
 
 
 
 
 
 
Source : Dion Global Solutions Limited
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