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12th
ANNUAL ACCOUNTS FOR THE YEAR
2016-17
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED
INDEX
Sl. No Particulars Page No.
1. Board of Directors
2. 12th AGM Notice
3. Notes
4. Form of Proxy
5. Company Profile
6. Directors Report
7. Addendum to Directors Report
8. Auditors` Report
9. Secretarial Audit Report
10. Comments of C&AG on the Annual Accounts
11. Balance Sheet
12. Statement of Profit & Loss
13. Cash Flow Statement
14. Notes 1 to 36
15. Vital Statistics
16. Subsidy Statement
i
BOARD OF DIRECTORS
List of Directors (as on the date of AGM)
Shriyuths,
1. Sri. Dr. Rajaneesh Goel IAS Chairman
2. Sri. D. Kiran, IRS Managing Director
3. Sri. K.T. Mahanthappa Director Technical
4. Sri. S. Ziyaullah IAS Director
5. Sri. D. Randeep IAS Director
6. Sri. Pavankumar Malapati IAS Director
7. Sri. H. Nagesh Director
8. Sri. T.R. Ramakrishnaiah Director
9. Kum. Charulatha Somal IAS Director
10. Sri. M. Pratap Director
11. Sri. A. N. Jayaraj Director
12. Sri. Arif khan Director
13. Sri. D. Siddaraju Director
14. Sri. D. Gopal Director
15. Sri. Huchegowda Director
16. Sri. Swamygowda Director
17. Smt. Latha Jayanna Director
18. Smt. B.K. Chandrakala Director
19. Sri. Madanamurali Director
20. Sri. C.K. Suresh Director
21. Sri. A. Shivanna Chief Financial Officer
22. Sri. K. T. Hiriyanna, FCS, Authorised signatory Convener
COMPANY SECRETARY
K.T. Hiriyanna
REGISTERED OFFICE
No. 29, Vijayanagar 2nd Stage,
Hinkal, Mysuru - 560017
website: www.cescmysore.org
CORPORATE IDENTITY NUMBER (CIN)
CIN: U40109 KA2004 SGC 035177
ii
BANKERS
1. Syndicate Bank
2. State Bank of Mysore
3. Vijaya Bank
4. Canara Bank
5. Corporation Bank
6. Kotak Mahindra Bank
7. ICICI Bank
STATUTORY AUDITORS
M/s Ganesan & Co., Bengaluru
COST AUDITORS
M/s NS & Associates, Bengaluru
iii
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED (Government of Karnataka undertaking)
(CIN: U40109KA2004SGC035177) Registered Office : Corporate Office, # 29, Vijayanagara 2nd stage,
Hinkal, Mysuru – 570 017. Telephone No.: 0821-2417101-10, Fax No.: 0821-2417105
Website: www.cescmysore.org , Email: cfo@cescmysore.org , authorsedcscesc@gmail.com
No. CESC/AS/AGM/2017-18/F-10/536-567 Date: 22.09.2017
Encl : 1) Blank Shorter Consent Notice. 2) Blank Proxy Form.
NOTICE
NOTICE is hereby given that the 12th Annual General Meeting of the Members of the
Chamundeshwari Electricity Supply Corporation Ltd will be held on Tuesday the 26th
September 2017 at 3.00 PM at the registered office of the Corporation, Mysuru to transact
the following business:
ORDINARY BUSINESS:
Item No.1: Consideration of financial statements (including CFS), and the reports of
the Board of Directors and Auditors.
To receive, consider and adopt the financial statement of the Company for the year
ended, 31st March 2017 including the audited Balance Sheet as at 31st March 2017, the
statement of Profit & Loss for the year ended on that date and report of the Board of
Directors (the Board) and Auditors report together with the comments received from the
Comptroller & Auditor General of India under Section 146 (6) of the Companies Act, 2013.
Item No.2: To declare a dividend on equity shares / any other decision if thought fit as
per section 123 of Companies Act 2013.
Item No.3 (a): To consider appointment of Statutory Auditors and to fix their
remuneration.
Item No.3 (b): To consider appointment of Cost Auditors appointed by the Board
pursuant to section 148 (3) of Companies Act 2013 read with relevant rules
thereunder.
By Order of the Board,
for Chamundeshwari Electricity Supply
Corporation Limited
Sd/-
(K. T. HIRIYANNA)
Authorized Signatory
iv
To :
1) All the Members (Shareholders) - by name
2) All the Directors - by name
3) The Statutory Auditors - by name
NOTES:
1) A member entitled to attend and vote at the Annual General Meeting is entitled to
appoint a proxy to attend and vote instead of himself and the proxy need not be a
member of the Company (Proxy Form Enclosed).
2) The Company being a Government Company, the Comptroller & Auditors General of
India will appoint the Auditors of the Company for the Year 2016-17 under
section 139 (5) of the Companies Act 2013.
3) The Company being a Govt. Company, the aspect of declaration of dividend will be in
accordance with the recommendation of the Board, decisions of shareholders as
deem fit and in accordance with the provisions of Companies Act, 2013.
4) The Consent for holding the meeting at shorter notice is enclosed. This may be
retransmitted to the Company.
v
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED (Government of Karnataka undertaking)
(CIN: U40109KA2004SGC035177) Registered Office : Corporate Office, # 29, Vijayanagara 2nd stage,
Hinkal, Mysuru – 570 017. Telephone No.: 0821-2417101-10, Fax No.: 0821-2417105
Website: www.cescmysore.org , Email: cfo@cescmysore.org , authorsedcscesc@gmail.com
NOTES
1. A member entitled to attend and vote at the Annual General Meeting is entitled to
appoint a proxy to attend and vote instead of himself and the proxy need not be a
member of the Company.
2. The Company being a Government Company, the Comptroller & Auditors General of
India has appointed the Auditors of the Company for the Year 2016-17 under section
139(5) of the Companies Act 2013 vide appointment order No.CA V/COY/KARNATAKA,
CESCL(1)/978 Dated 11.08.2016.
3. The Company being a Govt. Company, the aspect of declaration of dividend will be in
accordance with the recommendation of the Board, decisions of Shareholders as deem
fit and in accordance with the provision of Companies Act, 2013.
By Order of the Board,
For Chamundeshwari Electricity Supply
Corporation Limited
Sd/-
Place : Mysuru (K. T. HIRIYANNA)
Date : 22.09.2017 Company Secretary
To :
1) All the Members (Shareholders) - by name
2) All the Directors - by name
3) The Statutory Auditors - by name
vi
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED
(Government of Karnataka undertaking)
(CIN: U40109KA2004SGC035177)
FORM OF PROXY
I/We ................................................................................................................ being a member
/ members of the above mentioned Company hereby appoint .............................. as my / our
proxy to vote for me / us on my / our behalf at the 12th Annual General Meeting to be held on
26.09.2017 the ........................................................ and at any adjournment thereof.
Signed this ............................................... day of September, 2017.
Signature
[Shareholder]
Note :
1) This instrument of proxy shall be deposited at the Regd. Office of the Company not
less than 48 (Forty Eight) hours before the time of holding the aforesaid meeting.
2) A Proxy need not be a member of the Company.
vii
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED
PROFILE OF CESC
Chamundeshwari Electricity Supply Corporation Limited (CESC) with its
Headquarters at Mysore, is a Company incorporated under the Company’s Act – 1956 vide
GO No. EN 98 PSR 2004 Bangalore dated 19th Aug 2004 duly bifurcating MESCOM in
respect of retail supply of electric power for four districts in the State of Karnataka, viz.,
Mysore, Mandya, Chamarajanagar and Hassan. The District of Madikeri was included in the
jurisdiction of CESC as per GOK order dated EN 95 PSR 2005 dated 29.03.06 with effect
from 01.04.2006.
The Company’s capital is fully owned by GOK and its Board of Directors are
nominated by the Government. The operational area of the Company covers a contiguous
area of 27772.82 sq. kms, and serving a population of more than 81.55 Lakhs.
CESC has commenced functioning as Electricity Distribution Company from
01.06.2005. By virtue of Transfer Scheme Rules made under Karnataka Electricity Reforms
Act. 1999, distribution system of 33 KV and below along with specified lines, posts and
personnel have been transferred to the company from the MESCOM.
THE ADMINISTRATIVE AND OPERATIONAL STRUCTURE
The Chamundeshwari Electricity Supply Corporation has 17 numbers of
O & M Divisions, 61 Sub-Divisions and 260 O&M Units.
A. The Divisions of N.R. Mohalla, V.V. Mohalla Mysore, Nanjangudu, Hunsur
comes under the Administrative control of Mysore O & M Circle with Head-
quarters at Mysore.
B. The Divisions of Madikeri, Chamarajanagar, and Kollegal comes under the
Administrative control of Chamarajanagara-Kodagu Circle with Head-quarters at
Mysore.
C. The Divisions of Mandya, Maddur, Pandavapura, Nagamangala and K R Pete
comes under the Administrative control of Mandya circle, with Headquarters at
Mandya.
D. The Divisions of Hassan, Channarayapatna, Arasikere, Holenarasipura and
Sakleshpura comes under the Administrative control of Hassan Circle with
Headquarters at Hassan.
E. The Company has O & M Zone headed by Chief Engineer located at Mysore.
The O & M Zone with Headquarters at Mysore has the Administrative Control of
all the four O & M circles of Mysore, Chamarajanagara-Kodagu, Mandya and
Hassan.
viii
All the Sections, Sub-Divisions, Divisions and Circles as well as O & M Zone works
under the administrative control of the Corporate Office headed by the Managing Director.
He is assisted by the Director (T) and the Chief Financial Officer.
The Company is dedicated to the business of power distribution, has initiated a
number of actions on several fronts. Strategy is being devised to control the distribution
losses by strengthening the energy audit system. Further, all efforts are being made to
meter every installation in the distribution system, despite hostility by a section of
Consumers averse to fixing of meters to their installations.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
1
DIRECTOR’S REPORT FOR FINANCIAL YEAR 2016-17
Dear Members,
1. The Board of Directors have pleasure in presenting the 12th Annual Report of
business and operations of the Corporation, for the year ended 31st March 2017.
2. The Corporation has successfully completed the Twelth year in the business of
distribution of electricity. The Corporation is having its registered Office at Mysore
City with its jurisdiction comprising the districts of Mysore, Hassan, Mandya,
Chamarajanagar and Kodagu.
3. At a glance the Status of the Company as on 31st March 2017 is as follows:
Area of distribution and Supply (Sq.Km.) 27772.82
District 05
Total Population (as per census 2011) 8155369
Number of sub stations 220 KV, 110 KV, 66 KV ( of KPTCL) 204
Number of 33 KV sub stations 05
Number of Distribution Transformers 106280
Length of LT Lines (in CKMs) 81572.83
Length of 11 KV lines ( in CKMs) 51453.92
Length of 33 KV lines (in CKMs) 120.45
4. FINANCIAL PERFORMANCE
Particulars For the year ended
31.3.2017 (` in crs)
For the year ended
31.3.2016 (` in crs)
Income
Revenue from sale of power 3479.03 2775.83
Other income 211.32 215.23
Total income 3690.35 2991.06
Expenditure
Purchase of Power 3266.90 2717.75
Employee Benefit Expense 315.41 327.65
Finance Costs 197.20 150.30
Depreciation 147.57 117.45
Other Expenses 234.06 119.47
Total expenditure 4161.14 3432.63
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
2
Particulars For the year ended
31.3.2017 (` in crs)
For the year ended
31.3.2016 (` in crs)
Less Regulatory Income 517.99 464.46
Provision for Taxation 25.75 14.97
Net Profit/Loss 21.44 7.92
5. DIVIDEND
The Board has not proposed any dividend for the financial year ended
31st March 2017.
6. CUSTOMER BASE
The Corporation as on 31st March 2016 had a consumer base of 2850039 Nos.
With the addition of 114841 Nos. new consumers during the year, the number of
consumers as at the end of the year March 2017 is 2964880 Nos.
Tariff Description Total 2016-17 Total 2015-16
LT -1 BJ/KJ 496789 497094
LT-2 (a&b) Lighting & AEH 1775815 1701751
LT-3 Comm. Lighting 226005 214783
LT-4 IP Set 345783 324144
LT-5 LT Industrial 38835 37238
LT-6a (1) Water Supply - VPs / TPs/CMC/TMC 24228 22415
LT-6a (2) Public Lighting - VPs / TPs/CMC/TMC 21194 20132
LT-7 Temporary Supply 34307 30649
LT TOTAL 2962956 2848206
HT-1 Water Supply 125 121
HT-2a HT Industrial 876 845
HT-2b Commercial 566 540
HT-2c Hospital & Educational Institutions 237 214
HT-3a Lift Irrigation 88 81
HT-3b Agricultural / Horticultural Forms 2 2
HT-4 Residential Apartments 12 16
HT-5 Temporary Supply 18 14
HT TOTAL 1924 1833
LT + HT TOTAL 2964880 2850039
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
3
Review of Balance Sheet and Profit and Loss Account for the year
ending March 31st 2017
(` in lakhs)
Sl. No. Particulars 31.03.2017 31.03.2016
I Sources of funds
A Share Capital 50856.54 50856.54
B Reserves & Surplus 6395.50 -3510.81
C Share Deposit (pending allotment) 15229.00 1400.00
D Share holders’ fund (A to C) 72481.04 48745.74
1 Non Current Liabilities
(a) Long Term borrowings 100404.03 85330.24
(b) Deferred Tax Liabilities(Net) 9074.61 7169.05
(c) Other long term liabilities 61837.94 55861.14
(d) Long term provisions 0.00 0.00
Sub-total 171316.58 148360.43
2 Current liabilities
(a) Short term borrowings 24013.03 4157.85
(b) Trade Payables
Dues to MSME’s 0.00 0.00
Dues to Other’s 286800.53 231553.78
(c) Other Current liabilities 99120.36 92320.43
(d) Short-term provisions 588.99 0.00
Sub-Total 410522.91 328032.05
TOTAL EQUITY & LIABILITIES 654320.53 525138.22
II Assets
1 Non-Current assets
(a) Fixed Assets
(i) Tangible Assets 229200.49 188993.53
(ii) Intangible assets 515.17 3.31
(iii) Capital work in progress 26019.02 26174.35
(iv) Intangible assets under development 351.20 0.00
(b) Non-Current investments 251.00 251.00
(c) Long term loans and advances 0.00 4.69
(d) Other non-current assets 122017.83 52395.08
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
4
Sl. No. Particulars 31.03.2017 31.03.2016
Sub Total 378354.71 267821.95
2. Current assets
(a) Current Investments 0.00 0.00
(b) Inventories 5081.52 6831.39
(c) Trade receivables 216031.85 181241.76
(d) Cash and Bank Balances 16728.92 19178.99
(e) Short-term loans and advances 6728.46 12737.14
(f) Other current assets 31395.06 37326.99
Sub-Total 275965.82 257316.27
TOTAL ASSETS 654320.53 525138.22
Share holders Funds:- Compared to previous FY16, the fund has increased
by ` 23735.30 lakhs
ABSTRACT ` In lakhs
Sl.No Particulars FY16-17 FY15-16 Difference
1 Share Capital 50856.54 50856.54 0.00
2 Reserves Surplus 6395.50 -3510.81 9906.30
3 Share Deposit 15229.00 1400.00 13829.00
4 Netoff 4= (1+2+3) 72481.04 48745.74 23735.30
Share Capital: During the year there is no increase in Share Capital.
Reserves and surplus has increased to an extent of ` 9906.30 lakhs due to
Sl.No Particulars ` in lakhs
A Current year Loss / Profit 2144.37
B Consumers contribution towards cost of Capital Assets 15684.61
C Proposed for Net worth Adjustment (3401)
D Less Reversal of Depreciation as per AS-12 4521.68
Difference (A+B-C-D) 9906.30
Share Deposit has increased by ` 13829 lakhs due to infusion of equity during
the Current Year by GOK as Equity investment towards SDP ` 1080 lakhs,
SCSP & TSP ` 3249 lakhs, DTC Metering ` 3000 lakhs & Capex works
` 6500 lakhs.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
5
Long term borrowings: It is increased by ` 15073.79 lakhs. Is due to
withdrawal of balance loan towards NJY Phase-2 projects around ` 9358 lakhs
and for NJY Phase-1 around ` 613 lakhs and additional borrowings towards
CAPEX works around ` 5000 lakhs. The loan details are depicted in Note-4.7.
Deferred Tax Liability(Net) has increased by ` 1905.56 lakhs over the
previous year (The timing difference of depreciation rates between Companies
Act & Income Tax Act)
Other Long Term Liabilities: It is increased by ` 5976.79 lakhs (Net). During
the Year the Initial / Additional Security deposits have been collected to the
extent of ` 5143.97 lakhs and MSD to the extent of ` 23.90 lakhs. The retention
money and Security Deposit from the Contractors amounting to ` 857.65 lakhs
has increased.
Short Term Borrowings: There is an increase in the short term borrowings to
the extent of ` 19855.18 lakhs due to additional borrowing of ` 10000 lakhs
from REC and enhancement of OD by ` 15000 lakhs (From 5000 lakhs to
20000 lakhs) from SBI and utilized towards payment of purchase bills. And loan
repaid during the year is ` 5144.81 lakhs.
Trade Payables: The trade payables have been increased by ` 55246.76
lakhs (net). The case to case increase / decrease in Trade Payables is
depicted in Note-9.
Other Current Liabilities: It has been increased to the extent of ` 6799.93
lakhs, is due to increase in debt service to an extent of ` 3669.12 lakhs,
Interest accrued on borrowings ` 26.46 lakhs, Increase in Retension money
around ` 1933.80 lakhs. The A/c code wise increase / decrease in other
current liabilities is depicted in Note-10.
Short-term provision: It is increased by ` 588.99 lakhs due to provision made
for current year taxes.
Tangible Assets: It has been increased by ` 40206.96 lakhs (Net) due to
categorization of Capital Works during the Year.
Intangible Assets: It has been increased by ` 511.86 lakhs (Net) due to
categorization of software during the Year.
Capital Work in progress: It is decreased by ` 155.32 lakhs. Due to
capitalization of completed works.
Other Non-Current Assets: It is increased by ` 69622.75 lakhs is mainly due
to creation of Regulatory Asset to an extent of ` 63840 lakhs and in FY-16 the
company had accounted ` 51798 lakhs as regulatory asset. In FY-17 the
Company has accounted ` 63840 lakhs as additional regulatory asset by
computing the provisional gap expected to be considered by KERC for
inclusion in the tariff revision during 2017-18 and a sum of ` 12041 lakhs of
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
6
regulatory assets which was already created in FY-16 is reversed by retaining
` 34405 lakhs since the same will be recovered in FY-17-18. The total
regulatory asset accounted under Non-Current Assets is ` 98244 lakhs. The
case to case increase / decrease in Non-Current Assets is depicted in Note-19.
Inventories: It is decreased by ` 1749.87 lakhs compared to previous year.
Trade receivables: It is increased by ` 34790.09 lakhs.
a) As per GOK order No. EN 67 PSR 2017 Bangalore dated 31.07.2017 an
amount of ` 9069 lakhs towards old past RE subsidy dues to be transferred
from KPTCL as receivable from GOK against past power purchase dues
payables to KPTCL.
b) Subsidy receivable from GOK towards free supply to BJ / KJ and IP sets
balance to an extent of ` 30579.24 lakhs. The increase / decrease in trade
receivables is depicted in Note-22.
Short term Loans and Advances: It is decreased by ` 6008.67 lakhs mainly
due to adjustment of advance amount paid to contractors / suppliers towards
their final bills.
Other Current Assets: It has been decreased by ` 5931.93 lakhs mainly due
to decrease in receivables towards Energy Balancing cost from HESCOM of
` 3100.44 lakhs & from GESCOM of ` 3154.01 lakhs and recovery of
Regulatory Assets of ` 12041 lakhs.
Ratios
Sl. No. Particulars 31.3.2017 31.3.2016
1 Debt: Equity Ratio
(Long Term Borrowings : Equity) 1.52:1 1.63:1
Analysis of Profit and Loss Account (` in lakhs)
Sl.
No. Particulars 31.03.17 31.03.16
Increase/
decrease
Variance
in (%)
A Income
1 Revenue from operations
(Distribution of Power) 347902.86 277583.11 70319.76 25.33
2 Other Income 21132.44 21523.42 -390.98 -1.82
Total Revenue 369035.30 299106.53 69928.78 23.38
B Expenses
1 Purchase of power 326690.70 271774.60 54916.10 20.21
2 Employee Benefits Expense 31541.01 32765.04 -1224.04 -3.74
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
7
Sl.
No. Particulars 31.03.17 31.03.16
Increase/
decrease
Variance
in (%)
3 Finance Costs 19720.03 15030.15 4689.88 31.20
4 Depreciations and amortization
expenses 14757.07 11745.83 3011.24 25.64
5 Other Expenses 23406.14 11947.37 11458.77 95.91
Total Expenses 416114.95 343263.00 72851.95 21.22
C Profit before tax -47079.65 -44156.47
D Regulatory Income / Expenses 51798.60 46446.00 5352.60 11.52
E Tax Expense
Deferred Tax 1905.56 1497.25
Income Tax 669.02 0.00
F Profit after Tax 2144.37 792.28
Total Revenue has increased by 25.33% (` 70319.76 Lakhs) over the
previous year due to increase in sale of units to the extent of 855.05 MU’s and
increase in the installations 114841 & due to revision of tariff.
Other Income has decreased by 1.82% (` 390.98 lakhs) over the previous
year is mainly due to withdrawal interest claimed on RLB dues to an extent of
` 4709.05 lakhs due to securitization of RLB dues.
Power purchase cost has been increased by 20.21% (` 54916.10 lakhs) over
the previous year is due to increase in purchase of energy to an extent of
1099.99 Mus as a result of increase in allocation of CGS energy, increase in
purchase from IEX, Increase in Transmission Charges of KPTCL & PGCIL &
Overdrawal of Energy to an extent of 733.64 Mus which resulted in increase of
Power Purchase Cost to an extent of ` 29440.58 lakhs.
Employee cost has decreased by 3.74% (` 1224.04 lakhs) over the previous
year.
Finance Charges has increased by 31.20% (` 4689.88 lakhs) over the
previous year is due to the payment of interest to commercial banks on debt.
Depreciation and amortization expenses have increased by 25.64%
(` 3011.24 lakhs) due to increase in Capitalization of assets.
Other expenses has increased by 95.91% (` 11458.77 lakhs) over the
previous year due to write-off of interest on RLB dues to an extent of
` 4709.05 lakhs as per GOK order dated 31.03.2017, Short provision for power
purchase to an extent of ` 697.31 lakhs & other expenses relating to prior
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
8
period to an extent of ` 3200 lakhs. The increase / decrease in other expenses
is depicted in Note-22.
Deferred Tax has increased by 27.27% (` 408.31 lakhs) over the previous
year (The timing difference of depreciation rates between Companies Act &
Income Tax Act)
Current Year income tax liability of ` 669.02 lakhs has been accounted.
Regulatory Asset The Company is engaged in operation of Supply of
Electricity to the consumers covered under its jurisdiction. The rates are
regulated by the Honb’le Karnataka Electricity Regulatory Commission (KERC).
As per section 62 of Electricity Act 2003, the CESC is filing tariff application
yearly with Regulatory Commission for determination of tariff. The Regulatory
Commission determines the tariff as per procedures laid in section 64 of
Electricity Act 2003. The Company collects tariff from consumers as approved
in the tariff order issued by the Regulatory Commission. The Honb’le KERC
through its Tariff orders allow recovery of deficits in subsequent periods
besides through truing up orders. In this back ground, the Company has
accounted the regulatory asset of ` 517.99 Crs being recognition of ` 638.40
Crs of additional regulatory asset computed towards the provisional gap
expected to be considered by KERC for recovery in subsequent years and
reversal of ` 120.41 Crs created in FY16. Thus the regulatory Assets as on
31.03.2017 is as follows:
Non Current Asset - ` 982.44 Crs (Previous Year : ` 344.05 Crs)
Other Current Asset - ` Nil (Previous Year : ` 120.41 Crs)
Corporation has incurred Net Profit to an extent of ` 2144.37 lakhs.
7. Power Purchase
During the year 2016-17, the power purchase is 7544.85 MU at a total cost of
`3266.90 Crs. Total energy available for sale is 7204.35 MU. Total sales during
the year was 6260.28 MU. Remaining 944.07 MU was attributable to system
loss.
8. Power Purchase details
A) CESC is purchasing power from generators as per GOK order No.EN 131
PSR 2003 dated 10.05.2005. The power is procured from the following sources
during FY16-17.
a) Central Generating Stations like NTPC, NLC, NPCIL
b) State owned generating stations of KPCL-Hydel & Thermal.
c) Major Independent Power Producer - UPCL
d) Independent power producers from non-conventional sources like wind, Solar
& Mini hydel.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
9
B) The GOK issues order allocating share to each ESCOM’s for payment purpose
and also power allocation. The energy allocation to CESC for FY16-17 as per
order dated 18.03.2016 is as given below ( EN 22 PSR 2016 B’lore)
Sl
No. Source % Share of allocation
Avg.Power
Purchase Cost
in paise / Kwh
1 (a) KPCL Hydel: 22.723% & 11.0531% 95
(b) KPCL Thermal 4.5462% & 11.0531% 478
RTPS 1 to 7 4.5462% 427
RTPS VIII 11.0531% 467
BTPS Unit I 11.0531% 629
BTPS Unit II 11.0531% 541
(c) KPC Diesel Plant
2. Central Generating Stations:
(a) NTPC 11.0531% 338
(b) NLC 11.0531% 429
(c) Kaiga 11.0531% 321
(d) MAPS 11.0531% 218
3. Major IPPs
Udupi Power Company Ltd. 11.0531% 449
4. Minor IPPs (NCE Projects)- Co gen 445
Biomass No allocation, Exclusive
Purchase
489
Mini Hydel No allocation, Exclusive
Purchase
336
Wind No allocation, Exclusive
Purchase
352
UI 269
Medium Term 11.0531% 431
Short Term 11.0531% & 12.5% 405
Sec11 502
Solar Roof Top Exclusive Purchase 980
The above allocation is applicable from 01.04.2016 to 31.03.2017.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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C). Comparison of source wise power purchase cost during FY17 & FY16:
Source
2016-17 2015-16
Energy
(MU)
Cost
` (lakhs)
Average /
unit
Energy
(MU)
Cost
` (lakhs)
Average/
unit
KPCL-Hydel 1047.85 9964.60 0.95 1030.89 11481.99 1.114
KPCL-Thermal 1269.42 60648.92 4.78 1313.98 59348.84 4.517
CGS 2472.78 88481.52 3.58 1601.00 48877.04 3.053
IPPS 818.85 36790.75 4.49 991.82 41635.83 4.198
NCE 450.43 17841.78 3.96 457.23 15811.46 3.458
Medium & Short term
power purchase 418.44 17941.28 4.29 480.05 24898.21 5.187
Peak Power (IEX) 93.84 2871.72 3.06 0.57 25.96 4.562
Bundled Power 67.85 3136.40 4.62 67.39 2883.98 4.280
Captive Power 0.00 0.00 0.00 0.00 0.00 0.00
KPTCL Transmission
Charges 34650.33 0.00 30542.22 0.00
PGCIL Transmission
Charges 15511.27 0.00 10481.91 0.00
UI Charges & Other
Expenses 170.32 9031.42 5.30 471.36 23446.94 4.974
SLDC Charges 240.00 0.00 215.72 0.00
Solar Roof Top 1.43 140.13 9.80 0.04 3.74 9.752
Total 6811.21 297250.12 4.364 6414.32 269653.85 4.204
Energy Balancing
adjustment 733.64 29440.58 4.01 30.54 2120.75 6.945
Sub Total 733.64 29440.58 4.01 30.54 2120.75 6.945
Energy balancing
adjustment of previous
years due to change in
quantity & rate
0.00 0.00 0.00 0.00 0.00 0.00
Net Energy & Amount 7544.85 326690.70 4.329 6444.86 271774.60 4.217
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
11
D) Transmission Charges:
CESC is making payment of transmission charges to KPTCL and PGCIL.
The Transmission Charges being paid to KPTCL is on MW basis as approved by
KERC and for PGCIL as approved by CERC.
9. An overview of the performance of CESC is as under:
Sl
No Particulars Measure 2016-17 2015-16 2014-15 2013-14 2012-13
1. Total Lines & TCs added:
a. DTCs erected Nos. 12022 10172 10057 10829 6004
b. 11 KV HT lines RKms 4472.58 4323.80 5164.98 4514.02 1726.42
c. LT lines RKms 2195.03 4260.55 1842.36 1800.56 1082.26
d. Reconductring of HT Lines RKms 165.10 266.45 173.70 167.52 35.73
e. Reconductring of LT Lines RKms - - - - -
2. DTC Failures % 9.26 10.76 12.33 11.24 12.84
3 RE Works:
a. Electrification of Hamlets
(DDG) Nos. 3 0 0 0 330
b. Electrification of
Basthies/JCs/Tandas Nos. 0 0 0 0 356
c. Electrification of Tribal
Colonies Nos. 0 0 0 0 1
d. Electrification of
Un-electrified villages Nos. 2 0 0 0 0
4 Servicing of
a Drinking WSS Nos. 1473 748 1310 2856 1398
b. Ganga Kalyana Schemes Nos. 3020 2049 1808 3455 1878
5 IP Sets Serviced
a. New IP Sets Nos. 18382 7131 14666 1534 1602
b. Regularization of
Unauthorized IP sets Nos. 3331 2887 4969 19964 6723
6 BJ/KJ installations serviced Nos. 0 0 657 2464 4269
7 Total Energy Purchased MU 7544.85 6444.86 6299.35 6229.97 6149.75
8 Total Energy @ Interface
Point MU 7204.35 6256.07 6084.89 5995.61 5857.84
9 Total Energy Sales MU 6260.28 5405.23 5240.07 5112.33 4974.93
10 Distribution loss % 13.10 13.60 13.88 14.73 15.07
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
12
PERFORMANCE OF PROJECTS
“Development & deployment of web based Feeder wise Data Analysis and
Outage Management along with support and maintenance for a period of one year in
CESC”
1.0 Scope of work:
(a) Feeder wise Data Analysis
1. SCADA System is installed covering the entire power system of Karnataka up
to the 11KV feeder level and all the major generation units. This data is
collected at the time interval of ten seconds and stored at the time interval of
every minute in oracle database. An application that will help in analyzing the
raw data being collected by the SCADA system for 11KV feeders and major
generation assets.
2. Application is able to read raw data stored on a server in oracle database and
able to support the following reporting functions
(i) Historical Reports –
1) Duration of time a feeder has been shutdown in a given time interval.
2) Number of interruptions suffered by each feeder in a given time interval.
3) Comparative analysis on performance of feeders in different division,
districts.
4) Total, average and peak load on each feeder.
5) Report the worst performing feeders in each zone, division.
6) Report the total energy generation by each source during a given time
interval.
7) Report the generation mix during a given time interval.
(ii) Current System Status Reports-
1) Actual demand vs scheduled and forecasted demand.
2) Actual wind and solar power vs forecasted power.
3) Current outages on the feeders.
3. All the reports have the options to be exported as CSV files.
4. The application supports automated daily report generation and sending them
through email.
(b) Outage Management
1. Application that will support the process of 11KV feeder shutdown during the
event of unscheduled outage. Unscheduled outage can result because of the
loss of a generating units or a loss of a major transmission element.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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2. The State Load Dispatch Centre (SLDC) is the central body responsible for
balancing the load and supply in the grid. During such event, SLDC is informed
about the shortfall in the generation, and the required load relief for the balance
of the grid. SLDC then asks each distribution company in the state to curtail the
load by shutting down the 11KV feeders, enough to meet the required load
relief.
3. SCADA system is installed covering the entire power system of Karnataka up to
the 11KV feeder level. This data is collected at the time interval of ten seconds
and stored at the time interval of every minute. Looking at the history of outages
of feeder that include the outage duration and the number of interruptions, the
applications makes the selection of the feeders, so that all feeders over the time
have suffered the same duration of outage, as well as the number of
interruptions suffered by each feeder.
4. Also during such event, a close coordination is required between State Load
Dispatch Centre and Distribution Control Centre at CESC, to select and
shutdown the feeders to provide a load relief required for the grid stability and
also for the adherence to the grid code.
5. The application is capable to cover all the feeders in CESC area.
i) Through the interface exposed to CESC, they can access the protocol and
modify the priority listing and logic used in the indiscriminate selection of the
11KV feeders to shut down.
ii) The program gives the quantum of load to be shed by CESC by keeping in
mind the present quantum of over drawl/underdrawl which will be intimated
to SLDC about the shut down of selected feeders.
iii) Communication to relevant stakeholders through SMS & E-mail.
iv) CESC is able to access historic information on the total outage duration,
and the number of interruption, on each 11KV feeders in their distribution
area.
v) The generation of reports as required by CESC from time to time.
vi) The application software designed is compatible for third party software
integration like TRM, PGRS and other relevant system at CESC.
Rural Feeder monitoring through National Power Portal (NPP)
Ministry of Power, Government of India has decided to bring data from 11KV Rural
feeders to National Power Portal to know the availability and quality of Power supply in Rural
areas. As a pilot project, it has been decided that the data from the states including
Karnataka where data is already being captured at central location(SCADA) may be
immediately brought to National Power Portal.
In order to achieve the same the Master Data is furnished to NIC and after
acceptance the Transaction data during the month is also pushed to NPP.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Implementation of Outage Management System(Urja-Mitra) in CESC
Urja-Mitra provides a web and app enabled platform, establishing links between call
centres, CESC field staff and CESC consumers for facilitation of outage dissemination
information of all consumers through SMS and data.
Urja-Mitra is a single platform developed by REC to disseminate all types of Outages
in both Urban and Rural areas.
CESC has implemented Urja-Mitra and scheduled outages are being broadcasted
through this portal.
Public Grievance Redress System (PGRS) in CESC
The consumers of CESC can register electricity complaints 24X7 by reaching CESC
Helpline “1912”.
Web based PGRS (Public Grievance Redress system) Software is installed
succesfully and working satisfactorily enabling fast complaint registration and
redressal at customer care center from 22.09.2015.
The website address is http://www.cescmysorepgrs.com. Provision of consumer
complaints registration through various sources like; helpline, SMS, Email, Web and
Retrieving of consumer history is there in the software.
A complaint received at customer care center will be registered immediately in the
software and system generated docket numbers are intimated simultaneously to
consumers and to the concerned sub divisional officer/ section officer or local
service station automatically via SMS to their mobile numbers.
Once the complaint is resolved, the status of complaint will be updated by
concerned sub divisional officer/ section officer / local service station or customer
care executive, on confirmation from the complaint and the docket will be closed.
The consumers can also track the status of their complaint through online.
CESC Helpline “1912” is made toll free from 6-7-2016.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Ag-DSM programme:
1337 Nos of IP sets of Malavalli Taluk were replaced by Energy Efficient Pump sets
(EEP) in March 2015. The energy savings achieved from this project is around 37%. The
energy savings is calculated on the basis of difference of energy consumed by old pumps
and after installation of Energy Efficient Pumps for the same amount of water output. The bill
for the savings is computed on monthly basis with 6 hours operation of pump sets /day for
10 months in a year. The savings is shared on mutually agreed basis of 90% to EESL and
10% to CESC at the KERC determined rate from time to time.
Energy Savings:
Sl
No
DPR Cost
` in lakhs Year
Energy Consumption
in Units
Annual Energy
Savings in
KWH
%
Savings Before After
1
454.99
2015-16 (After
implementation) 15359796 9691308 5668488 36.9
2
2016-17 (After 1st
Measurement &
Verification)
15359796 9807230 5552566 36.15
AgDSM in Malavalli
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
16
Unnat Jyothi by Affordable LEDs for All (UJALA) (DELP):
Chamundeshwari Electricity Supply Corporation Ltd (CESC) is implementing Unnat
Jyothi by Affordable LEDs for All (UJALA) popularly known as ‘‘Hosa Belaku’’ to provide high
quality 9W LED bulbs at an affordable rate to consumers. Energy Department, Government
of Karnataka has designated Energy Efficiency Services Limited (EESL), a public sector
entity under the administrative control of Ministry of Power as implementing agency for
UJALA in the state. The programme was launched on 11.12.2015 in Mysore by Hon’ble
Chief Minister of Karnataka.
Under this scheme, 9W LED bulbs are being provided to domestic consumers of
CESC at an affordable rate i.e @ ` 70/- per bulb.
Further the LED bulbs carry a technical warranty for 3 years against any defects.
The market price of these bulbs is between ` 150 - 200. The replacement would benefit
consumers between ` 120 - 200 (based on whether CFL or incandescent bulb is replaced)
every year. Therefore the simple payback of the cost of LED bulbs, at ` 70/- for the
consumers will be 7-8 months through saving in electricity bills.
Around 64 lakh LED bulbs of 9W capacity are being planned to distribute through M/s
EESL each at cost of ` 70/- only to consumers. This will have an annual energy savings of
126 MU.
Energy Savings is as follows:
Sl.
No Particulars Unit
As per
Survey
As per Actual
Distribution
1 Number of LEDs bulbs Nos 6360934 3063223
2
Average Wattage of 60W ICL and 14W
CFL (Assumed penetration in the ratio of
30%:70% of ICLs:CFLs)
Watt 27.8 27.8
3 Wattage of LED Watt 9 9
4 Power saving Watt 18.8 18.8
5 Hours of Usage Hrs/day 3.5 3.5
6 Operating days per year Days/year 300 300
7 Energy saved per LED per Day kWh 0.0658 0.0658
8 Energy saved per LED per year kWh 19.74 19.74
9 Total Energy saved per year Million kWh 125.56 60.47
10 Total annual savings in power purchase
cost (` 4.31 per kWh) ` Cr. 54.12 26.06
11 Potential reductions in peak load (apx) MW 119.00 58.00
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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UJALA Programme launching at Mysore
Transformer Testing Centers at CESC:
A committee was formed for standardizing the common distribution transformers
technical specifications for Energy efficiency level-1 3 Star rated transformers in all
ESCOMs and the committee deliberated the various points and has come up with 30 point
technical specification list to be adopted uniformly in all ESCOMs. Energy Department, GoK
has instructed all ESCOMs for implementation of this committee report for all future
procurements.
As per the Govt Order dated 05.10.2015, 4no’s Transformer Testing Centers have
been established by providing new technological sophisticated testing equipment’s to carry
out the testing of transformers at Mysore, CH Nagar, Mandya and Hassan Circle
jurisdictions. CESC has invested ` 33.0 lakhs for establishing each test center. As on
June-17 3591 No’s of transformers are tested in the testing centers. CESC has placed
purchase order on 27.02.2017 to establish Transformer testing centers at another 11
Divisions at a total Cost of ` 2.64 crores. The instructions have been given for compulsory
testing of transformers for the transformers procured for TTK works/Company
purchase/Repaired DTC’s in future.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Transformer testing center at Mandya
I. ON-GOING WORKS
1. Smart Grid Pilot Project:
Smart Grid is an initiation of Ministry of Power, Govt. of India for establishing Smart
Grid in India for increasing power availability, reducing AT&C losses and optimal utilization of
resources for sustainable growth.
In order to develop Smart Grid in India MoP has taken up pilot Smart Grid projects as
suggested by India Smart Grid Task Force. MoP has selected 14 Pilots from the different
state utilities, CESC is one among 14 pilots selected for implementation Smart Grid Pilot
Project.
Smart Grid enables,
• Highly Flexible, Efficient, Optimized Operations
• Full support for market based Demand Side Management
• Integration of alternate Generation and Distributed Energy resources
• New Products, Markets and Services
• Quality Power
• Optimum Asset Utilization and Operations efficiency
• Resilience against to system disturbances and calamities.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Pilot Area: V V Mohalla Sub-division:
Area of implementation V.V.Mohalla, Metagally, Hebbal, Vijaya Nagara,
Hootagally and Ilawala consists of 14 no of
11KV Feeders of V.V.Mohalla Division of
Mysore City
Date of Award for System Integrator 30-04-2014, M/s Enzen Global Solutions,
Bengaluru
Total approved cost (` in Cr.) 32.59
GoI contribution (@ 50 % ` in Cr.): 16.30
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Consumer type Consumers Consumption %
LT1-Bhagya Jyoti 538 0.1%
LT2-Domestic 19653 15.0%
LT3-Commercial 2410 5.0%
LT4-Agri - IP 580 2.8%
LT5-Industrial 677 11.7%
LT6-Street Light 316 2.5%
LT-7 Temporary 233 0.4%
HT 125 62.6%
Total 24532 100%
Status as at the end of March-2017:
• “Hardware design, Network configuration & test procedures” and “Software
solution, Functional specifications, data flow exchange” is approved.
• Smart Grid Control Center is established with all server hardware and software.
• 18750 Single phase meters are supplied and 18050 are installed.
• Three Phase meters work is under progress.
• 190 TMU are supplied and 160 are installed and communiciation is achieved.
The project to be expected to complete in September – 2017.
2. Niranthara Jyothi Yojana (NJY):
Niranthara Jyothi Yojana a prestigious flagship scheme of Government of Karnataka
being implemented in CESC under Two Phases, for providing continuous power supply to
non-agricultural loads in rural areas. The project is being implemented in 24 taluks in CESC
Jurisdiction, through construction of new 11KV feeders and providing distribution
transformers for segregation of non-agricultural loads & agricultural loads in rural areas.
NJY Phase-1 is being implemented in 10 taluks on partial turnkey basis at an
estimated cost of ` 248 crores with a proposal for construction of 161 feeders covering 3358
Nos of villages.
Out of 161 Nos. of feeders. 26 Nos. feeders works are proposed to be short closed
as per the 45th Board meeting resolution. DWAs are issued to takeup these feeder works
under Deen Dayal Upadhyay Gram Jyothi Yojana (DDUGJY) Scheme.
NJY Phase-2 is being implemented in 14 taluks on Total turnkey basis and works are
awarded at DWA cost of ` 500 crores with a proposal for construction of 235 feeders
covering 3440 Nos of villages.
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Status as at the end of March-2017:
NJY Phase-1: Out of 135 feeders 130 Nos of feeder works are completed, work is
under progress in 5 feeders and is expected to complete by Sep-2017.
NJY Phase-2: Out of 235 feeders proposed 211 Nos of feeder works are completed
and work is under progress in 14 feeders. Balance 10 Nos feeders works are to be taken up
and is expected to complete by Sept-2017.
3. Restructured Accelerated Power Development And Reforms Programme
(R-APDRP):
Even after implementing APDRP scheme the absolute level of losses were still at a
higher level and needed further efforts for achieving lower loss levels. Also reliable &
verifiable baseline data for revenue & energy were required for verifying exact AT&C losses
in an area and further detection of commercial and technical loss pockets.
In order to achieve the above objective, the need for adoption of integrated IT system
by utilities was recognized and hence, MOP, GOI launched Restructured APDRP
(R-APDRP) in July 2008 as a central sector scheme for XI Plan.
Covers 12 towns viz., Mysore, Nanjangud, KR Nagar, Hunsur, Chamarajanagar,
Kollegala, Madikeri, Malavalli, Hassan, Arasikere, CR Patna, Mandya.
The intension of the project was to attain and maintain the AT&C loss level for all
12 Towns at less than 15%. The AT&C loss report are generated automatically through
system at different levels of Administrative hierarchy which are getting monitored and
improved on a monthly basis.
IT implementing agency along with ESCOM’s and IT consultants are working
together for resolution of all major issues related to the IT modules faced by end user
through a systematic IT process framework and make the project a success.
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Part-A:
Establishment of IT enabled system for achieving reliable & verifiable baseline data
system. The work has been awarded to M/s. Infosys Technologies Ltd., Bengaluru as IT
implementing Agency with a cost of `32.51 Crs.
Role of ITIA (Infosys):
The Part A scheme has 17 major modules followed by IT Hardware with an
implementation of Data Centre (DC) and Data Recovery Centre (DR) situated at Bengaluru
(DC) and Chennai (DR).
The Major modules as part of R-APDRP Scheme are
• Web Self Service
• System Security Requirement
• Management Information System
• New Connection
• Collections
• Development of Commercial DB of Consumers
• Disconnection & Dismantling
• GIS based customer indexing and asset mapping
• Identity and Access Management system
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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• Billing
• GIS based integrated network analysis module
• Asset Management
• Maintenance management
• Meter Data Acquisition
• Energy Audit
• Metering
• Centralized Customer Care
All the modules are deployed on Production Server and are in use from the date of
full Stack roll out for respective 12 towns. Dedicated Track leads are allotted to look in to the
progress, usage and resolution of issues for all 12 towns by using IT applications.
As there are 5 ESCOM’s in Karnataka State, to make common decision BESCOM
has been chosen as the Nodal office where respective Track-leads of each module
co-ordinate and keep informed about the new changes and issue to be resolved and
incorporated.
Status as at the end of March-2017:
All 12 Towns has been declared Go-live with Full stack application. Network
connectivity and office infrastructure has been completed in all towns.
1912 Helpline number for customer complaints /services has been implemented in all
ESCOM’s and are functioning to the expectations.
Provision of Online Payments of electricity bills and logging of customer services like
New Connection, Name Change, Power Cuts, Power Problems, Faults etc., are made
available through online portal (www.cescmysore.in/www.cescmysore.org) for all 12 towns.
This would improve the facilities and quality of services provided to customers.
The Third party inspection by M/s PGCIL for CESC is completed on 15/07/2017 and
reports for the same also submitted. The entire project related activities in all aspects would
be completed within Sept-2017.
Part-B:
Part-B deals with regular distribution system strengthening & up gradation Projects.
The focus for Part-B shall be loss reduction on sustainable basis. Projects Cost: ` 221.10
Crs. The Activities covered is as follows:
Strengthening of electrical distribution network
Replacement of Single phase electro-mechanical by electro-static consumer meters.
Replacement of Three phase electro-mechanical by electro-static consumer meters.
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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Status as at the end of March-2017:
In all towns consumer meter replacement works have been completed and
strengthening of electrical distribution work is completed in 10 towns (Nanjangud,
KR Nagar, Hunsur, Mandya, Malavalli, Chamarajanagar, Kollegala, Hassan, Arasikere and
CR Patna). The work of Strengthening of electrical distribution network in 2 towns
(Mysore and Madikeri) were short closed due to non-completion by the agencies, the
balance works were retendered and work awards was issued. The works are under progress
and the work will be completed within Sept-2017.
4. Rajiv Gandhi Grameena Vidyuth Yojane - XII Plan (RGGVY-XII):
RGGVY 12th plan is being implemented in CESC with scope of work to complete
spillover works of projects sanctioned in X & XI Plan. Electrification of un-electrified / partially
electrified habitations of population 100 & above associated with main villages which are not
covered under RGGVY X & XI Plan.
Access to electricity to all Households (including BPL Households) in the above
Villages / Habitations.
Out of 5 districts in CESC, RGGVY works sanctioned under 12th plan to Mysuru
Mandya district are awarded & works are under progress. RGGVY works in other 3 districts
of Hassan Chamarajanagar and Kodagu districts are not sanctioned by MOP.
District Mysuru Mandya
Sanctioned Cost ` 18.84 Crs ` 12.48 Crs
Habitations covered 1624 Nos. 1610 Nos.
Status as at the end of March-2017:
For Mysuru district works, LOA is issued on 15.11.2014 and DWA is issued on
29.12.2014 to L1 bidder M/S Shreeshwar Electricals Private Ltd., Dharwad. Work is under
progress.
2339 BPL House Holds are electrified out of 25,098 BPL HHs in Mysuru and Mandya
districts.
Time Schedule for completion of the Projects is 24 Months from the date of LOA.
Further extention of time period to complete the works is given upto Sept-2017 by M/s REC.
5. DTC Thread through Metering:
For Energy Audit purpose the tenders were invited for 14000 nos. of Supply,
Installation, Commissioning and Maintenance of Composite Thread through Type Meter of
Class 1.0 having AMR compliant with associated CT’s, Modem and other materials for DTC
metering works under competitive bidding on Supply, Erection and 5 years of Maintenance
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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basis for Mysore City Circle, O&M Circle Mysore, Mandya and Hassan on par with
BESCOM.
Further, after processing of tenders M/s Asian Fab Tech Limited, Bengaluru-58 in
joint venture with M/s. Secure Meters is selected as L1 bidder and Detailed work awards
were issued on 23.02.2015.
Sl No. Circle Completion period No. of meters Total cost in `
1 O&M, Hassan 9 months 7000 31,95,65,560
2 O&M, Mandya 6 months 1500 6,84,82,870
3 O&M, Mysore 9 months 3500 15,97,85,237
4 Works, Mysore 9 months 2000 9,13,11,534
Total
14000 63,91,45,201
Status as at the end of March-2017:
14000 Nos. of Thread through meters are supplied. work is completed in 2 circles.
Work is under progress in remaining 2 circles.
6. Shifting of consumer meters from inside to outside the premises and fixing of
SMC Box
Work has been awarded for Supply, installation, and commissioning of SMC Boxes
by Shifting of existing Single Phase Energy meter position from inside to outside the
consumer premises & to accessible point outside the premises with facilitating SMC Box with
meter & accessories in RSD-1 & RSD-2, Hassan on total turnkey basis to
M/s. RMC Switchgear Limited, Jaipur- 17, Completion period : 4 months (upto
26.06.2015).
Activity-1: Supply, installation and commissioning of 33,400 Metering Box, Shifting of
existing single phase Energy meter from inside to outside the premises and facilitating the
SMC Box to the meter at accessible point for easy meter reading.
Activity-2: Supply, installation and commissioning of 30,615 Metering Box, facilitating
the SMC Box to the existing single phase Energy meters at outside the premises.
Status as at the end of March-2017:
Activity-1 Activity-2 Total
33400 22598 55998
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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II. NEW WORKS TAKEN-UP:
1. De-centralized Distributed Generation (DDG):
Ministry of power, Government of India has formulated decentralized Distributed
Generation (DDG) under DDUGJY ( Erstwhile scheme under XII plan RGGVY scheme)
for providing electricity to remote villages / habitations coming under forest area where
electricity grid connectivity is not feasible and cost effective.
The object of this scheme is to provide house lighting, street lights and drinking water
supply connections through solar power plants for attaining goal of providing access to
electricity to all households as per National Electricity policy. CESC has identified and
prepared DPR for Off Grid Electrification of 66 un-electrified habitations including 6 UE
Villages covering 2772 BPL Households.
REC earlier Sanctioned Amount : ` 12.61 Crores
REC Revised Sanctioned Amount : ` 19.62 Crores
Project cost awarded : ` 20.74 Crores
25 nos. projects for electrification of 29 hamlets based on Solar PV technology:
Sl.
No. District Taluk
Total
Hamlets BPL HH Street lights
1 Madikeri Virajpete 7 357 105
2 Mysore HD Kote-Periyapatna 11 480 149
3 Chamarajanagar Chamarajanagar 3 156 35
4 Chamarajanagar Kollegala 8 546 155
Total 29 1539 444
Status as at the end of March-2017:
First Phase
Under this 29 habitations including 04 Nos. of UE villages through Off-Grid
(Micro grid) PV Solar System covering 1539 BPL Households were awarded in 4 packages
on M/s Navya Technologies, Mumbai and M/s Sunedison, Chennai for ` 20.74 Crores on
16.11.2015 and 02.01.2016 for a time line of 12 Months.
Four Nos of Hamlets commissioned covering 197 HHs and work is under progress in
one UE village and 3 hamlets and for remaining 21 hamlets forest clearance from additional
Director General of Forest (Wild life) Ministry of Environment & forest, Wildlife Division New
Delhi from under secretary to Government, Forest, Ecology and Environment Department on
24.08.2016.
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Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
27
12 Nos of Habitations (including 2 UE villages) covering 829 HHs were sanctioned by
MoP, REC, which were awarded to M/s Deepa Solar System Pvt. Bangalore for ` 6.99
Crores on 21.01.2017 with time line of 4 months including 25 Hamlets covering 404 Hamlets
(Proposed yet to be sanctioned by REC) through Stand Alone Solar PV Module Rooftop
System.
Two Nos of UE Villages are completed and commissioned electrifying 13 HHs.
2. Integrated Power Development Scheme (IPDS)
Integrated Power Development Scheme (IPDS) is being implemented in Mysore,
Chamarajanagar-Kodagu, Mandya and Hassan circles covering total 33 statutory Towns in
the jurisdiction of CESC.
The main objectives of the project are;
i. Providing reliable and quality power supply in an efficient manner in urban areas.
ii. Efficient management of Distribution sector in urban areas.
iii. AT & C loss reduction as per trajectory finalized by MOP.
iv. Ministry of Power, GOI has sanctioned the IPDS works vide Ltr No: 26/1/2014-
APDRP Dtd: 03.12.2014 under Central Government Scheme, DPR cost of `170.03
Crores.
Approved DPR Cost: ` 170.03 Crores covering 33 towns viz., Mysuru, Nanjangud,
T.Narasipura, Bannur, Hunsur, K.R.Nagara, Periyapatna, H.D.Kote, Saraguru,
Chamarajanagara, Kollegala, Gundlupet, Hanuru, Yalanduru, Madikeri, Somavarapet,
Virajpet, Kushalnagar, Mandya, Maddur, Malavalli, Pandavapura, Srirangapatna,
Krishnarajpet, Nagamangala, Hassan, Arsikere, Channarayapatna, Alur, Belur, S.K. Pura,
H.N. Pura & Arakalagud.
Status as at the end of March-2017:
The Detailed Work Awards (DWA) are issued for three circles for execution of works
except metering activities. For metering activity tender is invited and will be awarded after
approval of Board.
The details of DWA issued for strengthening of distribution system are as follows
Circle Contractor Name for
strengthening works
DWA No.:
IPDS DWA date
DWA Amount
in ` Crores
Mysuru M/s Sangamitra constructions,
AP 1 & 2 13.02.2017 35.74
Mandya M/s Skilltech Engineers &
Contractors Pvt Ltd., Mysore 5 & 6 09.03.2017 37.94
Hassan M/s Pavani Controls & Panels
Ltd., Hyderabad 3 & 4 28.02.2017 28.52
Total 102.20
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Detailed Work Award for Chamarajanagar-Kodagu circle amounting to ` 39.08
Crores will be issued after declaration of bi-election results.
Further to this works of providing solar roof top on Government buildings
under IPDS is awarded as detailed below;
Circle Contractor Name for
strengthening works DWA No.: DWA date
DWA Amount
in ` Crores
Mysuru M/s Naviya Technologies, Mumbai CYS-1367 09.03.2017 15.14
3. Deen Dayal Upadyay Grameena Jyothi Yojane (DDUGJY):
Govt. of India has launched Deen Dayal Upadyay Grameena Jyothi Yojane for the
rural areas with the following activities :
Separation of agriculture and non-agriculture feeders.
Strengthening and augmentation of sub-transmission and distribution.
Metering
Rural electrification (including SAGY- Sansad Adarsh Grameena Yojana)
As per guidelines issued by Ministry of Power, Government of India Need
Assessment Document (NAD) was submitted to M/s REC through Energy Department
Government of Karnataka. NAD are given for 5 districts of Mysuru, Mandya,
Chamarajanagar, Kodagu & Hassan amounting to ` 2859 Crores. Subsequently, DPR’s
were submitted for ` 567.26 crores, out of which project cost is sanctioned for ` 278.89
Crores.
The details of District wise and activity wise amount is as detailed below:
(` in Cr.)
District SAGY Access
to RHHs
Feeder
Separation
System
Strengthening Metering
Total
cost
PMA
charges
Total cost
including PMA
Mysuru 2.83 3.30 27.59 0.71 25.50 59.93 0.30 60.23
Kodagu 0.00 6.00 5.62 1.00 3.50 16.12 0.08 16.20
Chamaraja
Nagar 0.00 6.00 20.55 1.01 22.28 49.84 0.25 50.09
Mandya 0.00 3.25 44.51 0.75 34.48 82.99 0.41 83.40
Hassan 0.59 10.96 25.07 2.59 30.80 70.01 0.35 70.36
Total 3.42 29.51 123.34 6.06 116.56 278.89 1.39 280.29
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The details of work proposed under SAGY is as detailed below:
MP
Constituency
Name of Hon’ble
Member of
Parliament
Name of SAGY
Gram Panchayat
selected by MP
No. of
villages
Amount required
for Electrification
works in SAGY
villages in ` lakhs
Mysuru & Kodagu Sri.Pratap Simha Karimuddanahally 11 83.66
Chamarajanagar Sri.R.Dhruvanarayan DB Kuppe 27 199.77
Hassan Sri.HD Devegowda Chennangihalli
& Kabballi 30 59.04
Total 68 342.47
Status as at the end of March-2017:
The Detailed Work Awards (DWA) are issued for execution of works except metering
activities. For metering activity tender is invited and will be awarded after approval of Board.
The details of DWA issued are as follows:
District Contractor Name DWA No.:
DDUGJY DWA date
DWA Amount
in ` Crores
Mysuru M/s Bajaj Electricals Ltd., Mumbai 01 & 02 13.02.2017 38.89
Kodagu M/s TV Subbaiah, Hubli 09 & 10 13.03.2017 13.89
Chamaraj
Nagar
M/s Pavani Controls & Panels Ltd.,
Hyderabad 03 & 04 28.02.2017 29.20
Mandya M/s Skilltech Engineers &
Contractors Pvt Ltd., Mysore 07 & 08 09.03.2017 58.55
Hassan M/s Bajaj Electricals Ltd., Mumbai 05 & 06 02.03.2017 41.18
Total 181.71
Vigilance activities:
i) CESC Vigilance Police Stations are located at Mysore, Mandya, Chamarajanagar,
Hassan and Madikeri. Superintendent of Police is incharge of police wing and
Executive Engineer (El) is leading the Technical wing of the Vigilance. The
activities of the vigilance wing are as follows.
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ii) During the financial year 2016-17 the Vigilance Wing had achieved the following
performance:-
Sl.No. Particulars 2016-17 2015-16
1 No. of Installations inspected 8979 19440
2 No of Cognizable cases booked 715 862
3 BBC raised in Cognizable cases in ` lakhs 111.64 157.73
4 BBC collected in Cognizable cases in ` lakhs (including
opening balance)
96.57 141.51
5 Balance (3-4) 15.07 16.22
6 Compounding Charges levied in ` lakhs 29.45 52.69
7 Compounding charges collected in ` lakhs 27.86 48.85
8 Balance (6-7) 1.59 3.84
9 No of miscellaneous cases booked 337 33
10 BBC raised in Miscellaneous cases in ` lakhs 360.12 10.83
11 BBC collected in Misc. Cases in ` lakhs 147.82 1.09
12 Balance (10-11) 212.29 9.74
13 Total BBC raised in Cognizable, Miscellaneous &
Compounding levied in ` lakhs
501.21 221.26
14 Total BBC collected in Cognizable, Miscellaneous &
Compounding in ` lakhs
272.25 191.45
15 Units pilfered in Cognizable cases 1064482 1532501
16 Units pilfered in Miscellaneous cases 3249706 74982
Mass raids / Surprise raids are being conducted at various places in the jurisdiction of
CESC in consultation with the Circle / Division level field Officers. However, as per
Electricity Act, 2003 there is an ambiguity in respect of registering theft cases by
vigilance wing. This issue is being pursued with Government.
Vendor approval:
The approval issued to those who are manufacturing electrical materials/equipments as
per IS/CESC specification. To ensure the quality of the materials supplied to CESC, it is
necessary to ascertain the worthiness of the suppliers. To bring in more transparency,
expertise and quality, the vendor analysis/assessment and inspection has been
12th
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entrusted to CPRI, Bangalore. Total 125 firms got vendor approval from CESC.
Approved vendor list is made available in CESC web site www.cescmysore.org
Details of Power Purchase Agreements from Renewable Energy Generators
CESC Mysore was having 96 power purchase agreement with Renewable Energy
Generators at the end of year 2015-16.
The total power purchase agreement with Renewable Energy Generators at the end of
year 2016-17 is as given below;
PPAs As on 31.3.2017 As on 31.3.2016
Remarks Nos MW Nos MW
Wind 51 121.25 51 121.25
Mini Hydel 20 122.50 20 122.50 01 to be commissioned
Cogen 4 65.22 03 47.22 02 to be commissioned
Cogen (Medium Term) 27 53.21 - -
Biomass 2 15.6 03 17.60 01 Terminated
Solar PV 16 233 07 88.00 09 To be commissioned
01 case pending in APTEL
Agricultural Land
Owners Solar Projects 12 27 12 27 5 to be commissioned
Further, 120 number of Solar Roof Top projects are commissioned during 2016-17 with
a Cumulative Capacity of 3.76 MW & Net export of 1.432 MU to CESC during 16-17.
CESC Mysore has been allotted 11.6% of Solar power from 2000 MW Pavagada Solar
Park & 11.06% from 970 MW solar projects under VGF scheme.
CESC Mysore has to fulfill renewable power purchase obligation as per KERC orders.
The details of the obligations fulfilled by CESC Mysore is as follows;
Non Solar RPO
Sl No Particulars FY 16-17 FY 15-16
1 Total Power Purchase Quantum in MU 7544.85 6444.86
2 Non Solar Renewable Energy Purchased under
PPA in MU 406.724 457.55
3 Non Solar renewable energy purchased under
Short term / Medium term in MU 72.388 266.18
4 Solar energy purchased in excess of RPO 1.677 -
5 Non Solar RPO Complied in % 6.37% 11.23%
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Sl No Particulars FY 16-17 FY 15-16
(Out of 11%) (Out of 10%)
Solar RPO
Sl No Particulars FY 16-17 FY 15-16
1 Total Power Purchase Quantum in MU 7544.85 6444.86
2 Solar Renewable Energy Purchased under PPA in
MU 56.831 25.26
3 Solar energy from SRTPV installations. 1.432 0.04
4 Solar RPO Complie d in % 0.772%
(out of 0.75%)
0.39%
(out of 0.25%)
5
Solar renewable energy purchased under PPA in
MU & SRTPV solar energy restricted to RPO
requirement
56.586 -
6 Solar energy purchased in excess of RPO
considered for Non-Solar RPO 1.677 -
Accidents for the year 2016-17
Sl.
No. Name of the Division
Departmental Non-Departmental Animal
Fatal Non-Fatal Fatal Non-Fatal
MYSORE O&M CIRCLE
1 N.R.Mohalla 0 3 4 0 2
2 V.V.Mohalla 0 1 0 0 1
3 Nanjangudu 0 1 4 0 3
4 Hunsur 1 1 5 2 9
Circle Total 1 6 13 2 15
CHAMRAJNAGARA & KODAGU CIRCLE
5 Chamarajanagar 0 1 4 0 4
6 Kollegala 0 0 4 0 2
7 Madikeri 0 2 8 4 11
Circle Total 0 3 16 4 17
HASSAN CIRCLE
8 Hassan 0 2 3 2 16
9 Sakleshpura 0 0 2 3 0
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Sl.
No. Name of the Division
Departmental Non-Departmental Animal
Fatal Non-Fatal Fatal Non-Fatal
10 C.R. Patana 0 0 0 0 0
11 Arsikere 0 0 1 1 2
12 Holenarasipura 0 3 2 1 6
Circle Total 0 5 8 7 24
MANDYA CIRCLE
13 Mandya 2 0 4 1 0
14 Maddur 0 1 5 1 4
15 Pandavapura 0 1 7 0 3
16 Nagamangala 0 0 1 0 0
Circle Total 2 2 17 2 7
GRAND TOTAL 3 16 54 15 63
CORPORATE GOVERNANCE
The Board of CESC believes and supports Corporate Governance practices of a high
standard, ensuring observance of these principles in all its dealings. All the Directors
take active part in the proceedings of Board and Sub-Committee meetings which add
value in the decision making process. The non functional directors receive sitting fees
for Board / Sub-committee meetings attended by them.
a) The meetings of the Board of Directors are scheduled in advance for which
notice is given to each Director in writing. The agenda and other relevant notes
are circulated to the Directors in advance.
Following are the Directors / KMP’s of CESC as on the date of AGM:
1. Sri. Dr. Rajaneesh Goel IAS Chairman
2. Sri. D. Kiran, IRS Managing Director
3. Sri. K.T. Mahanthappa Director Technical
4. Sri. S. Ziyaullah IAS Director
5. Sri. D. Randeep IAS Director
6. Sri. Pavankumar Malapati IAS Director
7. Sri. H. Nagesh Director
8. Sri. T.R. Ramakrishnaiah Director
9. Kum. Charulatha Somal IAS Director
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10. Sri. M. Pratap Director
11. Sri. A. N. Jayaraj Director
12. Sri. Arif khan Director
13. Sri. D. Siddaraju Director
14. Sri. D. Gopal Director
15. Sri. Huchegowda Director
16. Sri. Swamygowda Director
17. Smt. Latha Jayanna Director
18. Smt. B.K. Chandra kala Director
19. Sri. Madanamurali Director
20. Sri. C.K. Suresh Director
21. Sri. A. Shivanna Chief Financial Officer
22. Sri. K. T. Hiriyanna, FCS, Authorised signatory Convener
During 2016-17, 6 Board meetings took place as detailed below:
Sl.No Meeting No. Held on
1 57th 04.07.2016
2 58th 16.07.2016
3 59th 20.08.2016
4 60th 17.09.2016
5 61st 26.09.2016
6 62nd 17.01.2017
b) Board Sub Committees
The Sub-Committees of the Board were constituted to give more focused attention
on important issues.
1. Purchase Committee
Purchase Committee was formed to consider all cases of purchases whether
for Projects or award of Station / Line works or any other works and all matters
relating to such purchases as per prevailing delegation of financial powers.
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The composition of the purchase committee as on date of AGM is as below
1 Sri. D. Kiran, IRS, Managing Director Chairman
2 Sri. K.T. Mahanthappa, Director (Technical) Member
3 Sri. M. Pratap, Director Member Member
4 Sri. K. T. Hiriyanna, FCS, Authorised signatory Convener
During 2016-17, 6 Purchase Committee took place as detailed below:
Sl.No Meeting No. Held on
1 77th 06.04.2016
2 78th 08.07.2016
3 79th 27.08.2016
4 80th 14.11.2016
5 81st 23.12.2016
6 82nd 04.03.2017
2. Audit Committee
The composition of the Audit committee as on date of AGM is as below
1 Sri. H. Nagesh Chairman
2 Sri. K.T. Mahanthappa Member
3 Sri. Pavankumar Malapati IAS Member
4 Sri. M. Pratap Member
5 Sri. K. T. Hiriyanna,FCS, Authorised signatory Convener
Audit Committee considers and recommends the financial results to the Board.
Statutory Auditors are invited to attend the meeting. The committee also invites the
Chief Financial Officer and Chief General Manager (I/A) to be present at the
meeting.
Audit Committee has adequate powers and terms of reference to play an effective
role as mentioned in Companies Act which includes:
1. Discussions with the Auditors periodically about Internal Control System and the
scope of audit including observations of the Auditors.
2. Review of the Annual Financial statements before submission to the Board.
3. Ensure compliance of internal control systems.
4. Investigation into any of the matters as may be referred to by the Board.
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5. Financial and Risk Management Policies and Fraud and Fraudulent Risks.
6. Review of annual capital, revenue and store budgets before being placed before
the Board for approval.
7. Review of programmes of finalization of annual accounts for timely completion
of audit and approvals.
8. Review of adequacy of internal controls to review reports on inventory,
completion reports of capital works, standards and specifications wherever
applicable.
9. Review of Internal Audit paras.
10. Review of AG Audit paras.
11. Review of disciplinary cases.
12. Review of Vigilance activities, MRT, TAQC Wings and write offs.
13. Review of power purchase costs.
14. Review of borrowings.
15. Discussions with Statutory Auditors and cost Auditors regarding their reports.
16. Any other matters as may be referred to by the Board.
During 2016-17, Audit Committee took place as detailed below:
Sl.No Meeting No. Held on
1. 15th 08.07.2016
2. 16th 17.01.2017
3. CSR Committee:
Corporate Social Responsibility Committee has been formed in accordance with
section 135 of the Companies Act 2013 and the Companies (Corporate social
Responsibility) Rules, 2014 notified by the Ministry of Corporate Affairs, Government of
India.
The composition of the CSR committee as on date of AGM is as below
1 Sri. H. Nagesh Chairman
2 Sri. K.T Mahanthappa Member
4 Sri. M. Pratap Member
5 Sri. K. T. Hiriyanna, FCS, Authorised signatory Convener
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Personnel Details
A. The working strength of the employees as on 31.03.2017 is placed category-wise
as under:-
Cadres
Total working strength of employees
as on 31.03.2017
S W V
A-Grade (Regular Employees) 252 231 21
A-Grade (Deputation Employees) 16 11 5
A-Total 268 242 26
B-Grade (Regular Employees) 272 201 71
B-Grade (Deputation Employees) - - -
B-Total 272 201 71
C-Grade (Regular Employees) 3312 1997 1315
C-Grade (Deputation Employees) 41 34 7
C-Total 3353 2031 1322
D-Grade (Regular Employees) 6532 3018 3514
Company Total 10425 5492 4933
B. Training and Development Programmes during the year 2016-17
To inculcate the requisite work-culture and to develop the orientation and skill
essential for today’s advancing technology and operating environment, sufficient
and constant both external and internal training programmes are being imparted to
the rank and file employees of the Company.
a) Also training on Tax, Safety, Laws and customer relationship etc., have
been given to the employees for the enrichment of their knowledge and
betterment of their attitudes and behavior.
b) During the year 2016-17 the company has organized several Internal
Training Programmes and deputed the regular working staff of the Company
to various external training programme.
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The details of Training Programmes for FY 2016-17
Internal Training Programme
Sl No Cadre Nos ` in lakhs
1 Engineers 31
4.91 2 Accounts 2
3 C&D Employees 375
REC Training Programme for C & D employees (reimbursed by REC) 2553 25.91
Total Training expenditure 41.37
No. of participants 3090
Training Man hours 399.40
Training Man days 3615
Expenditure per participants per day (in `) 1338.00
C. National Training Programme for C&D Employees during FY 2016-17
REC-CESC have jointly sponsored 45 batches of training Programme under Variant
01 to 07 for the year 2016-17 to the C&D employees of CESC.
Communication Activities:
1. Instruction given to MCC for providing timer switches for street light and
requested to arrange for switching ON & OFF the street light at 6.30 PM to 5.30
AM of close to darkness & close to day light whichever is later. And to restrict the
excess usage of power to sign boards, hoardings, parks etc.
2. Action has been taken to give wide publicity for Govt. Schemes like regularization
of unauthorized pumpsets through newspapers, pamphlets, banners, broachers
etc.
3. Consumer Grievance Meetings, Janasamparka Sabhas have been conducted in
all the sub-divisions to solve the public grievances.
4. Soujanya Counters have been opened in all the sub-divisions to resolve the
problems of consumers.
5. Vidyut Adalath is being regularly conducted under the Chairmanship of Deputy
Commissioners.
6. Mass awareness programme is being conducted to pay the arrears regularly and
allow fixing the meter to Bhagyajyothi and Irrigation Pumpset categories on
electricity.
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7. Regular meetings with MPs & MLAs have been convened to solve public
grievances.
8. In the Company’s website energy consumption details are made available.
9. CESC has launched official website www.cescmysore.org on 15.08.2011 where
consumer can view all the information about the organization which provides
Tariff details, profile, statistics, ongoing projects tenders details, News & events,
all employees contact details along with following facility.
a. Consumer can register online complaint through feedback forms and
resolve the issues with respect to power supply interruption.
b. Can know the daily load availability and status of power supply &
consumption.
c. Other services like safety measures, consumption calculator.
10. CESC has provided ATP(Any time payment) facility to pay bill through ATP any
time in a day/ Any where payment facility through ATP has aslo been
introduced.
11. Customer chart showing details regarding payment details for availing power
supply under different tariff is available on website.
12. Applications for availing power supply under different category are available on
website.
13. CESC Customer care center launched under RAPDRP project where
consumers can call Contact Number 1912 to register their Electricity related
complaints. IVRS facility provided for consumers to know their complaint status
etc. Full fledged Staff & man power provided along 15 PC’, IP Phones & Server.
Etc to resolve the complaints within the stipulated time.
Particulars are as per Companies (particulars of employees) Rules, 1975 and as
amended:
None of the employees of the Company was in receipt of remuneration amounting to
` 60,00,000/- and above per annum or at the rate of ` 5,00,000/- and above per month
during the financial year under review.
Auditors:
The Comptroller & Auditor General of India had appointed M/s Ganesan & Co.,
Chartered Accountants, Bangalore as Statutory Auditors for the financial year 2016-17. The
audit team visited all accounting units, verified the records, obtained explanations and
finalized the audit work. Their report is enclosed and an addendum containing management
reply to their observation forms part of this report.
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M/s N.S and Associates, Cost Accountants, Bangalore are the Cost Auditors
appointed for conducting cost audit for the Financial year 2016-17.
M/s TSDJ & Associates are appointed for conducting secretarial audit for
FY16-17. Their report is also enclosed.
Review by the Comptroller & Auditor General
Comments on working results of the Corporation by the Comptroller and Auditor
General of India, forming part of this is appended to the annual report.
Directors’ Responsibility Statement:
Pursuant to Section 134(3)(c) of the Companies Act, 2013, the Directors wish to
state that to the best of their knowledge:
i) In the preparation of the annual accounts, the applicable accounting standards
had been followed along with proper explanation relating to material
departures;
ii) Accounting policies have been selected and applied consistently and made
judgements and estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the Corporation at the end of the
financial year and of the profit or loss of the Corporation for that period;
iii) Proper and sufficient care has been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act,
2013 for safeguarding the assets of the Corporation and for preventing and
detecting fraud and other irregularities; and
iv) Annual accounts have been prepared for the financial year ended March 31,
2017 on a going concern basis.
v) Internal controls have been laid down to be followed by the Corporation and
such internal controls are adequate and were operating effectively.
vi) Systems to ensure compliance with the provisions of all applicable laws are in
place and were adequate and operating effectively.
GENERAL
The Board would like to place on record its appreciation of:
The Government of Karnataka, the Government of India, Central Electricity
Authority, Comptroller &Auditor General of India, Karnataka Electricity Regulatory
Commission, Central Electricity Regulatory Commission for their assistance,
guidance and co-operation.
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Financing agencies such as Rural Electrification Corporation, Power Finance
Corporation, and Syndicate Bank, State Bank of Mysore, Canara Bank and other
Commercial Banks for their financial support.
The media for publicity and creating awareness among public.
The statutory/cost/secretarial auditors for their guidance and support.
All the agencies associated with the computerization of billing.
Employees’ Unions and Associations for their co-operation and collective
participation.
The Board also would like to place on record its appreciation of the dedicated
services rendered by the employees of the Corporation.
Sd/-
(Dr. Rajaneesh Goel)
Chairman
Date : 21.09.2017
Place: Mysuru
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INFORMATION PURSUANT TO THE COMPANIES (DISCLOSURE OF
PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988
FORM B
I) Research and Development (R&D)
Expenditure on R&D .. NIL
II) Energy conservation, technology absorption, adaptation and innovation
Not applicable.
In case of imported technology (imported during the last five years reckoned from the
beginning of the financial year), following information may be furnished:
Technology imported .. NIL
Year of import .. Does not arise
Has the technology been fully absorbed .. Does not arise
If not fully absorbed, areas where this has .. Does not arise
Not taken place, reasons therefore and
Future plan of action
III) Foreign Exchange:
a) Foreign exchange earnings ... Nil
b) Foreign exchange outgo ... Nil
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ADDENDUM TO DIRECTOR’S REPORT
Management replies to the observations / comments of
A) The statutory Auditors on the accounts
B) Secretarial Auditors on compliances of the applicable statutory provisions of
company for the year 2016-17 are as follows:
Sl.No Observations of Statutory Auditors Reply of the Management
a) Non-compliance of Accounting
Standard 2 on Inventories:
Inventories are valued at cost or Standard
rate. In respect of certain items of
inventories carried since the close of the
previous year, standard rate has been
adopted and in respect of receipts during
the year weighted average of the opening
standard rate and current year cost of such
inventories has been applied. The effect of
the above result in misstatement in the
valuation of inventories carried in the
balance sheet and the consequential effect
in the Statement of Profit and Loss account
is not ascertainable.
AS-2 has been implemented from
1st April, 2016 and onwards
i) Value of materials which
constitute the Opening Balance for
2016-17 (i.e., as on 1st April,
2016) will be retained at the value
existed in the books of Accounts
as at the end of 31/03/2016.
ii) According to modified Accounting
Policy, all Materials at the time of
purchase are to be valued at
Purchase cost instead of Standard
Rates prescribed in Schedule of
Rates Book.
iii) Material issues are to be valued at
Weighted Average Rate
applicable to the closing stock
before such issue.
Upto March-2016 inventories are
valued at standard rates and the
difference between the purchase
price and standard rates are booked
under Material cost variance account.
From 01.04.2016 no amount is
booked under material cost variance
A/c due to implementation of AS-2.
Hence consequential effect in the
Statement of Profit and Loss account
is not ascertainable.
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Sl.No Observations of Statutory Auditors Reply of the Management
b) Non-compliance of Accounting Standard
10 on Property, Plant and Equipment
and Accounting Standard 16 Accounting
for Borrowing Costs:
(i) Substantial delays (spanning even more
than one accounting period) in
capitalization and non-capitalization of
assets put to use included in capital
work in progress have been observed.
These result in understatement of fixed
assets and depreciation charged.
Instruction have been issued to
accounting units that there should be
no delay in capitalization of assets
(i.e. Assets put to use).
(ii) Depreciation on any adjustments to the
historical cost of the fixed assets is not
charged prospectively over the residual
life of the asset and is charged
prospectively considering as though
such adjustments are new assets.
Company is following the same
procedure since inception.
(iii) In respect of assets retired from active
use and in respect of faulty / dismantled
assets which are capable of being
reconditioned and reusable in the near
future, the Company derecognises such
items from the fixed assets at their
carrying cost and classifies them as
other current assets under the head
‘written down value of Faulty /
Dismantled assets’ till such assets are
classified as held for disposal as scrap
or for reuse. In the absence of an
updated fixed assets register containing
details relating to cost, accumulated
depreciation and carrying amount of the
individual assets, it is observed that
there is no uniformity in determining the
carrying amount of an asset retired from
active use. When such assets are
reused, the reconditioned assets are
capitalized again at the carrying cost of
The facts will be submitted to expert
committee and after obtaining their
suggestions/comments; necessary
action will be taken accordingly.
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45
Sl.No Observations of Statutory Auditors Reply of the Management
the original asset at which they were
transferred to other current assets
initially. Further, depreciation has not
been charged on such assets since
derecognition and until capitalized
again. This method is not in line with the
accounting standard AS 10 and results
in misstatement of carrying amount of
fixed assets and depreciation charge for
the capitalization of the asset for the
second and subsequent time,
considering the policy of charging
depreciation on SLM basis and
non-charging of appropriate
depreciation on ‘written down value of
Faulty / Dismantled assets’ .
(iv) Application of standard rates instead of
cost for the materials held in stock as
on 01.04.2016 and capitalized in project
assets.
Value of materials which constitute
the Opening Balance for 2016-17
(i.e., as on 1st April, 2016) will be
retained at the value existed in the
books of Accounts as at the end of
31/03/2016.
(v) Due to undue delay in capitalization of
project assets spanning over several
financial years for want of completion
certificates, the interest that had been
capitalized and held under capital work
in progress in earlier years towards
borrowing cost on qualifying assets for
the period beyond their actual date of
commissioning had not been charged to
revenue by reversing from Capital work
in progress resulting in misstatement of
carrying amount of fixed assets,
depreciation charge and finance costs.
Necessary action will be taken during
FY18.
(vi) The cumulative effect of the above on
depreciation charged and carrying
amount of fixed assets / current assets
Factual.
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Sl.No Observations of Statutory Auditors Reply of the Management
and current liabilities in the financial
statements is presently not quantifiable.
c) Non-compliance of Accounting Standard
12 on Accounting for Government
grants:
In the absence of the date of capitalization
of respective individual assets for which
capital grants had been utilized, the
company has estimated and accounted
“Depreciation withdrawn from contribution /
subsidies as per AS-12” under
“miscellaneous receipts” in the statement of
Profit and Loss account over the useful life
of such assets without considering the
quantum of unutilized grants and hence we
are unable to comment on the
appropriateness of such amount
recognized and the balance of such
deferred grants under reserves and
surplus.
Factual.
d)
Non-compliance of Accounting Standard
15 on Retirement Benefits:
Non-provision for liability on leave
encashment benefits and family benefit
fund based on actuarial valuation. The
impact of the above on the financial
statements is presently not quantifiable.
Factual.
e) Non-compliance of Accounting Standard
22 on Accounting for Taxes on Income:
Recognizing deferred tax liabilities on the
tax effect of timing difference of
depreciation alone and without considering
timing differences relating to accumulated
losses and other differences is not in
consonance with the accounting standards.
The impact of the above on the financial
statements is presently not quantifiable.
Provision has been made only on the
timing difference of Depreciation, as
advised by Company’s Income Tax
consultant and it is brought out in
Note No. 5.2 of Annual Accounts.
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Sl.No Observations of Statutory Auditors Reply of the Management
f) Non-compliance of Accounting Standard
28 on Impairment of Asset:
The Company has not assessed at the
Balance Sheet date the existence of
impairment, if any, of its assets, including
assets retired from active use and assets
scrapped and consequently we are unable
to comment on the existence of impairment
loss.
Factual
g)
The cumulative effect of the non-
compliance of the above and other
qualifications in the para below on the
Earnings per share vide Accounting
standard 20 is not quantifiable since
adequate information is not presently
available with the Company to quantify the
financial impact on non-compliance of
these Accounting Standards.
Factual
Further to the above,
a. The company had not accounted
interest payable on KPCL outstanding
amounting to `275.65 crores which was
hitherto accounted upto 31.03.2014 as
referred in Note No. 34.9.2 to the notes
to the accounts, which is not in
accordance with the generally accepted
accounting practice.
Factual.
b. Interest on power supply for IP
consumers (10 HP & below) have
remained unrecovered from the
Government and an amount of `371.97
crores is due as on 31.03.2017. The
Company had not charged interest
during the year. Recoverability of
outstanding interest charged and lying in
the IP sets consumers account under
receivables is doubtful of recovery.
The matter has already been brought
to the notice of Government of
Karnataka regarding the dues from IP
consumers outstanding as on
31.07.2008 which has remained
unrecovered. Until the final decision
of GOK regarding the clearance of the
said dues the same will be continued
under trade receivables.
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Sl.No Observations of Statutory Auditors Reply of the Management
Accordingly the trade receivable is
overstated and the profit is overstated to
the effect of `371.97crores.
c. Accounting for accessories /
components items forming part of the
released transformers, i.e., oil and coil
items (based on schedule of rates) under
other current assets and correspondingly
crediting the miscellaneous receipts
account at the time of withdrawal from
the fixed assets instead of the carrying
amount of the released asset is not in
consonance with the generally accepted
accounting principles, resulting in
overstatement of current assets and
overstatement of profits.
The procedure is followed since
inception. During FY15-16 onwards
the procedure of buy-back system is
introduced the question of accounting
for accessories/components will not
arise.
d. Balances in trade receivables, trade
payables, sundry creditors, dues of
KPCL and other ESCOMs, deposit
accounts, loans and advances are
subject to confirmation / reconciliation.
The effect of adjustments to be
recognised on such reconciliation is
presently not ascertainable.
Schedule is being maintained at all
accounting units. Action has been
taken to clear the old balances by
reviewing each item at the accounting
unit.
e. Reconciliation of inter unit accounts
amounting to `236.51crores (credit)
shown under Other Current Liabilities is
under progress.The effect of
adjustments in the financial statements
on account of non-reconciliation of inter
unit account is presently not
ascertainable / quantifiable.
Under IUA A/c, in the opening
balance sheet of the company itself
`224.77 crores has been transferred
from MESCOM under IUA head. The
matter has been taken up with
MESCOM and GOK. This balance
has to be adjusted only by
restructuring the opening balance
sheet.
For remaining amount reconciliation is
under process.
f. Pending reconciliation of balance of
trade receivables as per general ledger
Reconciliation is under process.
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Sl.No Observations of Statutory Auditors Reply of the Management
and subsidiary ledger and the delay of a
few days in the updation of collections in
the areas covered under Restructured
Accelerated Power Development &
Reforms Programme (RAPDRP), we are
not able to comment on the correctness
of the balances and their age-wise
classification.
g. Pending reconciliation of security
deposits from customers as per general
ledger and subsidiary ledger, we are not
able to comment on the correctness of
the interest recognised on such deposits.
Reconciliation is under process.
h. No provision for old receivables (relating
to shortage in inventories pending
investigation) that are doubtful of
recovery has been made resulting in
overstatement of other current assets
and overstatement of profits.
The procedure is followed since
inception, any how the matter will be
examined in FY 2017-18.
i. Non-ascertainment and non-provision of
wealth tax liability of the company upto
31.03.2015 resulting in overstatement of
profits.
Factual.
j. Non-disclosure of capital and other
commitments at the year end prescribed
under Schedule III to the Companies
Act, 2013.
Factual.
k. The recognition and measurement of
regulatory assets to the extent of
uncertainty in realisability of such assets
amounting to `982.44 crores which are
not in accordance with the generally
accepted accounting principles and
practices resulting in overstatement of
the assets and reserves and surplus by
`982.44 crores and profits for the year
by `517.99 crores.
The Company is engaged in
operation of Supply of Electricity to
the consumers covered under its
jurisdiction. The rates are regulated
by the Honb’le Karnataka Electricity
Regulatory Commission (KERC).
As per section 62 of Electricity Act
2003, the CESC is filing tariff
application yearly with Regulatory
Commission for determination of
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50
Sl.No Observations of Statutory Auditors Reply of the Management
tariff. The Regulatory Commission
determines the tariff as per
procedures laid in section 64 of
Electricity Act 2003.The Company
collects tariff from consumers as
approved in the tariff order issued
by the Regulatory Commission. The
Honb’le KERC through its Tariff
orders allow recovery of deficits in
subsequent periods besides through
truing up orders. In this back
ground, the Company has
accounted the regulatory asset of
`517.99 Crs being recognition of
`638.40 Crs of additional regulatory
asset computed towards the
provisional gap expected to be
considered by KERC for recovery in
subsequent years and reversal of
`120.41 Crs created in FY16. Thus
the regulatory Assets as on
31.03.2017 is as follows:
Non Current Asset - `982.44 crs
(Previous year : `344.05 crs)
Other Current Asset- ` Nil
(Previous year : `120.41 crs)
l. Through an order, The Government of
Karnataka had directed the accounting
of receivable towards subsidy and
payable towards power cost and interest
payable thereon transferred from KPTCL
with a net debit effect of `34.01 Cr
treated as “proposed adjustment to net
worth account” grouped under reserves
and surplus. Further, the amount of
`42.98 Cr accounted as interest payable
has been written back and grouped
under “Miscellaneous receipts” based on
The accounting treatment is given
as per the orders of GOK.
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51
Sl.No Observations of Statutory Auditors Reply of the Management
the said order. The accounting treatment
communicated through a single order for
recognition of the net liability with a
corresponding effect in “proposed
adjustment to net worth account” and a
write back of a portion of such liability
separately is not in accordance with the
generally accepted accounting principles
and practices.
B. Observations of Secretarial Auditors Reply of the Management
1. The Company has not amended the Articles
of Association in line with the new Companies
Act, 2013; it is suggested to amend the same.
Noted.
2. The Company has not appointed a Company
Secretary, who is also regarded as KMP
under the Companies Act, 2013. However, it
was observed that company has made on
effort in securing the services of Practicing
Company Secretary on contract basis.
Factual. Continuous efforts are
being made to appoint a company
secretary but suitable candidate
has not applied.
Place: Mysuru Sd/-
Date:26.09.2017 (Dr. Rajaneesh Goel)
Chairman
12th
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52
AUDITOR’S REPORT
INDEPENDENT AUDITOR’S REPORT
To the Members of Chamundeshwari Electricity Supply Corporation Limited
This report supersedes our original report dated 11.08.2017. Pursuant to the
observations made by Comptroller and Auditor General of India under section 143(6)(a) of
the Companies Act, 2013 the accounts approved by the Board of Directors on 11.08.2017
have been revised to incorporate the observations made by the Comptroller and Auditor
General of India on the financial statements and books of account of the company. The
impact of the revision in the accounts of the company is stated in note 36 to the accounts.
Our audit procedure on events subsequent to the date of the original report is restricted
solely to the amendments made vide note 36 to notes forming part of accounts.
Report on the Financial Statements
We have audited the accompanying financial statements of Chamundeshwari
Electricity Supply Corporation Limited (“the Company”), which comprise the Balance Sheet
as at March 31, 2017, and the Statement of Profit and Loss and Cash Flow Statement for
the year then ended, and a summary of significant accounting policies and other explanatory
information.
Management’s Responsibility for the Financial Statements
The Company’s Board of Directors is responsible for the matters stated in
section 134(5) of the Companies Act 2013 (“the Act”) with respect to the preparation of these
financial statements that give a true and fair view of the financial position, financial
performance and cash flows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards specified under section 133
of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility
also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls that were operating
effectively for ensuring the accuracy and completeness of the accounting records, relevant
to the preparation and presentation of the financial statements that give a true and fair view
and are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on
our audit. We have taken into account the provisions of the Act, the accounting and auditing
12th
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53
standards and matters which are required to be included in the audit report under the
provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified
under section 143(10) of the Act. Those Standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts
and disclosures in the financial statements. The procedures selected depend on the
auditor’s judgment, including the assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the Company’s preparation of the financial
statements that give a true and fair view in order to design audit procedures that are
appropriate in the circumstances,. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of the accounting estimates made by the
Company’s Directors, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our qualified audit opinion on the financial statements.
Basis for Qualified Opinion
In our opinion, the Balance Sheet, the Statement of profit and Loss Account and the
Cash Flow Statement dealt with by this report comply with the Accounting Standards
specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014 to the extent applicable subject to the following:
a) Non-compliance of Accounting Standard 2 on Inventories:
Inventories are valued at cost or Standard rate. In respect of certain items of
inventories carried since the close of the pervious year, standard rate has been
adopted and in respect of receipts during the year weighted average of the opening
standard rate and current year cost of such inventories has been applied. The effect
of the above result in misstatement in the valuation of inventories carried in the
balance sheet and the consequential effect in the Statement of Profit and Loss
account is not ascertainable.
b) Non-compliance of Accounting Standard 10 on Property, Plant and Equipment and
Accounting Standard 16 Accounting for Borrowing Costs:
(i) Substantial delays (spanning even more than one accounting period) in
capitalisation and non-capitalisation of assets put to use included in capital work
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
54
in progress have been observed. These result in understatement of fixed assets
and depreciation charged.
(ii) Depreciation on any adjustments to the historical cost of the fixed assets is not
charged prospectively over the residual life of the asset and is charged
prospectively considering as though such adjustments are new assets.
(iii) In respect of assets retired from active use and in respect of faulty / dismantled
assets which are capable of being reconditioned and reusable in the near future,
the Company derecognises such items from the fixed assets at their carrying
cost and classifies them as other current assets under the head ‘written down
value of Faulty / Dismantled assets’ till such assets are classified as held for
disposal as scrap or for reuse. In the absence of an updated fixed assets register
containing details relating to cost, accumulated depreciation and carrying amount
of the individual assets, it is observed that there is no uniformity in determining
the carrying amount of an asset retired from active use. When such assets are
reused, the reconditioned assets are capitalized again at the carrying cost of the
original asset at which they were transferred to other current assets initially.
Further, depreciation has not been charged on such assets since derecognition
and until capitalized again. This method is not in line with the accounting
standard AS 10 and results in misstatement of carrying amount of fixed assets
and depreciation charge for the capitalization of the asset for the second and
subsequent time, considering the policy of charging depreciation on SLM basis
and non-charging of appropriate depreciation on ‘written down value of Faulty /
Dismantled assets’ .
(iv) Application of standard rates instead of cost for the materials held in stock as on
01.04.2016 and capitalized in project assets.
(v) Due to undue delay in capitalization of project assets spanning over several
financial years for want of completion certificates, the interest that had been
capitalized and held under capital work in progress in earlier years towards
borrowing cost on qualifying assets for the period beyond their actual date of
commissioning had not been charged to revenue by reversing from Capital work
in progress resulting in misstatement of carrying amount of fixed assets,
depreciation charge and finance costs.
(vi) The cumulative effect of the above on depreciation charged and carrying amount
of fixed assets / current assets and current liabilities in the financial statements is
presently not quantifiable.
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
55
c) Non-compliance of Accounting Standard 12 on Accounting for Government grants:
In the absence of the date of capitalization of respective individual assets for which
capital grants had been utilized, the company has estimated and accounted
“Depreciation withdrawn from contribution / subsidies as per AS -12” under
“miscellaneous receipts” in the statement of Profit and Loss account over the useful
life of such assets without considering the quantum of unutilized grants and hence
we are unable to comment on the appropriateness of such amount recognized and
the balance of such deferred grants under reserves and surplus.
d) Non-compliance of Accounting Standard 15 on Retirement Benefits:
Non-provision for liability on leave encashment benefits and family benefit fund based
on actuarial valuation. The impact of the above on the financial statements is
presently not quantifiable.
e) Non-compliance of Accounting Standard 22 on Accounting for Taxes on Income:
Recognizing deferred tax liabilities on the tax effect of timing difference of
depreciation alone and without considering timing differences relating to accumulated
losses and other differences is not in consonance with the accounting standards. The
impact of the above on the financial statements is presently not quantifiable.
f) Non-compliance of Accounting Standard 28 on Impairment of Asset:
The Company has not assessed at the Balance Sheet date the existence of
impairment, if any, of its assets, including assets retired from active use and assets
scrapped and consequently we are unable to comment on the existence of
impairment loss.
g) The cumulative effect of the non-compliance of the above and other qualifications in
the para below on the Earnings per share vide Accounting standard 20 is not
quantifiable since adequate information is not presently available with the Company
to quantify the financial impact on non-compliance of these Accounting Standards.
Further to the above,
a. The company had not accounted interest payable on KPCL outstanding amounting to
`275.65 crores which was hitherto accounted upto 31.03.2014 as referred in Note No.
34.9.2 to the notes to the accounts, which is not in accordance with the generally
accepted accounting practice.
b. Interest on power supply for IP consumers (10 HP & below) have remained
unrecovered from the Government and an amount of `371.97crores is due as on
31.03.2017. The Company had not charged interest during the year. Recoverability
of outstanding interest charged and lying in the IP sets consumers account under
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
56
receivables is doubtful of recovery. Accordingly the trade receivable is overstated
and the profit is overstated to the effect of `371.97crores.
c. Accounting for accessories / components items forming part of the released
transformers, i.e., oil and coil items (based on schedule of rates) under other current
assets and correspondingly crediting the miscellaneous receipts account at the time
of withdrawal from the fixed assets instead of the carrying amount of the released
asset is not in consonance with the generally accepted accounting principles,
resulting in overstatement of current assets and overstatement of profits.
d. Balances in trade receivables, trade payables, sundry creditors, dues of KPCL and
other ESCOMs, deposit accounts, loans and advances are subject to confirmation /
reconciliation. The effect of adjustments to be recognised on such reconciliation is
presently not ascertainable.
e. Reconciliation of inter unit accounts amounting to ` 236.51 crores (credit) shown
under Other current Liabilities is under progress. The effect of adjustments in the
financial statements on account of non-reconciliation of inter unit account is presently
not ascertainable / quantifiable.
f. Pending reconciliation of balance of trade receivables as per general ledger and
subsidiary ledger and the delay of a few days in the updation of collections in the
areas covered under Restructured Accelerated Power Development & Reforms
Programme (RAPDRP), we are not able to comment on the correctness of the
balances and their age-wise classification.
g. Pending reconciliation of security deposits from customers as per general ledger and
subsidiary ledger, we are not able to comment on the correctness of the interest
recognised on such deposits.
h. No provision for old receivables (relating to shortage in inventories pending
investigation) that are doubtful of recovery has been made resulting in overstatement
of other current assets and overstatement of profits.
i. Non-ascertainment and non-provision of wealth tax liability of the company upto
31.03.2015 resulting in overstatement of profits.
j. Non-disclosure of capital and other commitments at the year end prescribed under
Schedule III to the Companies Act, 2013.
k. The recognition and measurement of regulatory assets to the extent of uncertainty in
realisability of such assets amounting to ` 982.44 crores which are not in accordance
with the generally accepted accounting principles and practices resulting in
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
57
overstatement of the assets and reserves and surplus by `982.44 crores and profits
for the year by `517.99 crores.
l. Through an order, The Government of Karnataka had directed the accounting of
receivable towards subsidy and payable towards power cost and interest payable
thereon transferred from KPTCL with a net debit effect of ` 34.01 Cr treated as
“proposed adjustment to net worth account” grouped under reserves and surplus.
Further, the amount of ` 42.98 Cr accounted as interest payable has been written
back and grouped under “Miscellaneous receipts” based on the said order. The
accounting treatment communicated through a single order for recognition of the net
liability with a corresponding effect in “proposed adjustment to net worth account”
and a write back of a portion of such liability separately is not in accordance with the
generally accepted accounting principles and practices.
Qualified Opinion
In our opinion and to the best of our information and according to the explanations
given to us except for the effects of the matters described in the Basis for Qualified Opinion
paragraph, the financial statements give the information required by the Act in the manner so
required and give a true and fair view in conformity with the accounting principles generally
accepted in India of the state of affairs of the Company as at 31st March, 2017, and its profits
and its cash flows for the year ended on that date.
Emphasis of matter
We draw attention to the following matters explained in the Notes to the financial
statements:
Title deeds of certain immovable properties are not in the name of the company –
Refer Note No.13.3.5 of Notes to accounts.
Our opinion is not qualified in respect of these matters.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies Auditor’s Report Order, 2016 (“the Order”) issued by
the Central Government of India in terms of sub-section 11 of Section 143 of the Act,
we given in Annexure-A a statement on the matters specified in paragraphs 3 and 4
of the Order.
2. As required by section 143 (3) of the Act, we report that:
a. We have sought and, except for the possible effects of the matter described in the
Basis for Qualified Opinion paragraph above, obtained all the information and
explanations which to the best of our knowledge and belief were necessary for the
purpose of our audit;
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b. Except for the possible effects of the matter described in the Basis for Qualified
Opinion paragraph above, in our opinion proper books of account as required by law
have been kept by the Company;
c. The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt
with by this Report are in agreement with the books of account;
d. Except for the matters described in the Basis for Qualified Opinion paragraph above,
the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply
with the Accounting Standards specified under section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2013;
e. In terms of notification issued in G.S.R. 463(E) dated 05.06.2015 under clauses (a)
and (b) of sub-section (1) of Section 462 and in pursuance of sub-section (2) of the
said Section of the Companies Act, 2013 (18 of 2013), the provisions of sub-section
(2) of section 164 of the Act, do not apply to a Government company and accordingly
the question of reporting on the disqualification of appointment of Directors does not
arise;
f. The qualification relating to the maintenance of accounts and other matters
connected therewith are as stated in the Basis for Qualified Opinion paragraph
above;
g. With respect to the adequacy of the internal financial controls over financial reporting
of the Company and the operating effectiveness of such controls, refer to our
separate report in “Annexure B”;
h. With respect to the other matters to be included in the Auditor’s Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and
to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations on its financial
position in its financial statements – Refer Note No.34.9 to the Notes on Accounts;
ii. The Company did not have any long term contracts including derivative contracts
for which there were any material foreseeable losses;
iii. There were no amounts which were required to be transferred, to the Investor
Education and Protection Fund by the Company.
iv. The Company has provided requisite disclosures in the financial statements as to
holdings as well as dealings in Specified Bank Notes during the period from 8th
November, 2016 to 30th December, 2016. However, we are unable to obtain
sufficient and appropriate audit evidence to report on whether the disclosures are
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59
in accordance with books of account maintained by the Company and as
produced to us by the Management – Refer Note 34.9.7
3. In compliance to the directions under section 143(5), we report as hereunder:
A. Matters relating to directions:
1. According to the information and explanations provided to us, the company has not
been selected for disinvestment.
2. During the year, there is waiver/write off of debts being arrears relating to long
disconnected installations amounting to ` 1.12 crores in the absence of any scope for
recovery, as explained to us.
3. Proper records are maintained for inventories lying with third parties by the company.
According to the information and explanations given to us, the company has not
received any assets as gift/grant from Government or other authorities cases.
4. The age-wise details of pending legal cases is as hereunder:
Particulars Upto 1 Year 1 Year to 3 Years More than 3 years Total
Revenue 18 4 17 39
Others 50 106 79 235
As explained to us, the proceedings of the above cases are under progress at the
courts and there are no specific reasons attributable to such pendency and there
exists a reasonable mechanism for ensuring effectiveness of expenditure
incurred in respect of legal cases.
5. Additional Company Specific Direction:
i. Considering the size of the company and the volume of operations of the company,
the system of billing and collection of revenue is considered to be reasonably
efficient. Delay of a few days in the updation of collections in the areas cover under
Restructured Accelerated Power Development & Reforms Programme (RAPDRP) is
noticed. Tamper proof meters have not been installed for all consumers. As informed
to us, for all HT lines in RAPDRP area, Automated Meter Reading (AMR) systems
have been installed and in other areas, the installation of such meters is in progress
and in respect of LT lines, AMRs have not been installed. The accuracy of the billing
is ensured through periodic test check undertaken by HT and LT rating staff.
ii. Reconciliation of receivables / payables is being generally done periodically with
generation companies having power purchase agreements with the company,
distribution companies and transmission companies. The reconciliation with other
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
60
generators has not been undertaken. The year end balances are subject to
reconciliation.
iii. The Fuel and Power Purchase Adjustment Cost (FPPCA) approved by KERC has
been demanded and recovered from the consumers and accounted by the company.
iv. During the year ended 31st March 2017 no tariff roll back subsidies have been
allowed, as informed to us.
v. Only operations relating to billing and collection from consumers have been
computerized. Adequate practices are in place for ensuring data security, as
explained to us but the company does not have any formal documented IT security
policy for data / software / hardware.
FOR GANESAN AND COMPANY
CHARTERED ACCOUNTANTS
FIRM REGN NO. 000859S
Sd/-
G.HARI GOVIND
PARTNER.
M.NO.206563
Place : Mysuru
Date : 21.09.2017
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
61
Annexure-A to Independent Auditor’s Report
(Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’
section of our report of even date to the members of Chamundeshwari Electricity Supply
Corporation Limited for the year ended March 31, 2017)
1) (a) The records maintained by the company with respect to fixed assets do not have the
details with respect to quantity and situation of fixed assets. The company has
informed us that it is in the process of updating its records with respect to the
original cost of all assets and depreciation up to date.
(b) According to the information and explanations given to us, the management has
physically verified certain fixed assets during the year under a programme for
periodic verification of fixed assets which is found to be reasonable. As explained to
us, no material discrepancy between physical count and fixed assets’ records was
noticed and the same has been properly dealt with in the accounts.
(c) Title deeds of immovable properties are in the name of the company except in the
following cases:
Sl.
No.
Name of Division
where accounted Details of Immovable property Asset in the name of
1 NR Mohalla
Kadakola LM Camp KEB
2 Ayyarahally LM Camp KEB
3
Nanjanagudu
Hullahally LM Camp KEB
4 Muguru LM Camp No title deeds available
5 Bettahally LM Camp KEB
6
Hunsur
Hunsur Sub-division KEB
7 Kattemalalavadi KEB
8 Periyapatna Sub-division KEB
9 K.R.Nagar Collection Center KEB
10 Basavarajapura Camp No documents available
11 Saraguru Section office KEB
12 Saraguru quarters colony KEB
13
Chamarajanagara
Harave MUSS KEB
14 Chandakavadi Section office
33Kv MUSS KEB
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62
Sl.
No.
Name of Division
where accounted Details of Immovable property Asset in the name of
15 Kollegala
Male mahadeshwara Hills LM
Camp KEB
16 Kinakanahally LM Camp No title deeds available
17
Madikeri
Shanthinikethan KEB
18 MUSS Colony, Madikeri MUSS
19 Madikeri Sub-division office Chairman, Indian
Corporation & Indian Union
20 Somawarpete Section office Govt property
21 Hanagalu Shettally KEB
22 Koodige Govt.
23 Shrimangala Section office KEB
24 Virajapete Section office MUSS
25 Mandya
Tubinakere LM Camp KEB
26 Hulikere LM Camp In the name of Govt. school
27 Maddur
Ravani LM Camp KEB
28 Kiragavalu Section office KEB
29 Pandavapura
Hangarahally LM Camp KPTCL
30 Bidarahally LM Camp KEB
31 Hassan
Old Electricity Colony(OEC) KEB
32 Dudda Section office KPTCL
33 Holenarasipura
Hally Mysore KEB
34 Bachenahally Land is not available
2) We are informed that the physical verification of inventories has been carried out once
in a year by the management. In the absence of adequate records of physical
verification of inventories, we are unable to comment, whether the procedures of
physical verification of inventories followed by the management are reasonable and
adequate in relation to the size of the company and the nature of its business.
The discrepancies arising out of physical verification are yet to be adjusted in the
inventory.
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3) The company has not granted any loans, secured or unsecured to companies, firms,
Limited Liability Partnerships or other parties covered in the register maintained under
section 189 of the Companies Act, 2013 and accordingly, reporting in clauses (iii)(a),
(iii)(b) and (iii)(c) of paragraph 3 of the Order is not applicable to the Company.
4) According to the information and explanations given to us, the company has not given
any loans, guarantees or security or made any investments during the year attracting
the provisions of Sec. 185 or Sec. 186 of the Companies Act, 2013 and accordingly,
reporting in clauses (iv) of paragraph 3 of the Order is not applicable to the Company.
5) According to the information and explanation provided to us, the company has not
accepted deposits from the public except in respect of share application money from
Government of Karnataka pending allotment for a period beyond 60 days which are
covered under the directives issued by the Reserve Bank of India and the provisions of
Section 73 to 76 or any other relevant provisions of the Act and the rules framed there
under and accordingly, the company has complied with the said provisions expect in
respect of shares application money pending allotment tantamounting to deposits.
6) We have broadly reviewed the books of accounts made and maintained by the
company pursuant to the rules made by the Central Government for the maintenance of
Cost records under section 148(1) of the Act, and are of the opinion that prima facie, the
prescribed accounts and records have been made and maintained. We have, however,
not made a detailed examination of the records with a view to determining whether they
are accurate or complete.
7) (a) The company has been generally regular in depositing with appropriate authorities
undisputed statutory dues including provident fund, investor education protection fund,
employees’ state insurance, income tax, sales tax, service tax, duty of customs, duty of
excise, value added tax, cess and other material statutory dues applicable to it with the
appropriate authorities during the year. There were no undisputed amounts payable in
respect of the aforesaid statutory dues outstanding as of 31st March 2017 for a period of
more than six months from the date they became payable.
(b) According to the records of the company, there are no dues of income tax / sales
tax/ duty of customs / duty of excise / value added tax which have not been deposited
on account of any dispute except in respect of service tax dues as under:
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64
Sl.
No.
Name of the
statute
Forum where the dispute is
pending
Amount (In
` Lakhs)
Period to which
it relates
1. The Finance Act,
1994 (Service Tax)
Customs, Excise and Service Tax
Appellate Tribunal, Bengaluru 45.29
January 2005 –
March 2009
2. The Finance Act,
1994 (Service Tax)
Customs, Excise and Service Tax
Appellate Tribunal, Bengaluru 15.33
April 2009 –
September 2009
3. The Finance Act,
1994 (Service Tax)
Customs, Excise and Service Tax
Appellate Tribunal, Bengaluru 10.12
October 2009 –
March 2010
4. The Finance Act,
1994 (Service Tax)
Customs, Excise and Service Tax
Appellate Tribunal, Bengaluru 3.39
October 2010 –
March 2011
5. The Finance Act,
1994 (Service Tax)
Customs, Excise and Service Tax
Appellate Tribunal, Bengaluru 30.59
April 2011 –
September 2011
6. The Finance Act,
1994 (Service Tax)
Customs, Excise and Service Tax
Appellate Tribunal, Bengaluru 10.81
October 2011 –
March 2012
7. The Finance Act,
1994 (Service Tax)
The Commissioner of Central
Excise (Appeals) 4.14
April 2012 –
June 2012
8. The Finance Act,
1994 (Service Tax)
The Commissioner of Central
Excise (Appeals) 8.75
July 2012 –
March 2013
8) In our opinion and according to the explanations given to us, the company has not
defaulted in repayment of loans or borrowings to a financial institution, bank or
government and the company did not have any dues to debenture-holders during the
year.
9) According to the information and explanations given to us, the term loans obtained by
the company have been applied for the purpose for which they were raised and the
company had not raised moneys by way of initial public offer or further public offer
(including debt instruments) during the year.
10) According to the information and explanations given to us, no fraud on or by the
company has been noticed or reported during the course of our audit except in respect
of: (a)Theft of electricity reported by the vigilance department for 715 cases involving
an amount of ` 111.64 lakhs. Out of this ` 96.57 lakhs have been collected upto
31.03.2017 and (b) Misappropriation of cash amounting to ` 4.46 lacs by an employee
during the year detected and recovered subsequent to 31.03.2017.
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11) The company, being a government company, provisions of section 197 relating to
managerial remuneration are not applicable to the company and hence clause (xi) of
paragraph 3 of the Order is not applicable to the Company.
12) According to the information and explanations given to us, the company is not a Nidhi
company and hence clause (xii) of paragraph 3 of the Order is not applicable to the
Company.
13) According to the information and explanations given to us, the company has not
entered into any transactions with related parties and hence reporting under clause
(xiii) of paragraph 3 of the Order is not applicable to the Company.
14) According to the information and explanations given to us, the further issue of shares
are neither private placement nor preferential allotment by the company and the
company has not allotted issued any debentures and hence reporting under clause
(xiv) of paragraph 3 of the Order is not applicable to the Company.
15) According to the information and explanations given to us, the company has not
entered into any non-cash transactions with directors or persons connected with and
hence reporting under clause (xv) of paragraph 3 of the Order is not applicable to the
Company.
16) According to the information and explanations given to us, the company is not required
to be registered under section 45-IA of the Reserve Bank of India Act, 1934.
FOR GANESAN AND COMPANY
CHARTERED ACCOUNTANTS
FIRM REGN NO. 000859S
Sd/-
G. HARI GOVIND
PARTNER.
M.NO.206563
Place : Mysuru
Date : 21.09.2017
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
66
ANNEXURE-B TO INDEPENDENT AUDITOR’S REPORT
(Referred to in paragraph 2 (g) under ‘Report on Other Legal and Regulatory
Requirements’ section of our report of even date)
Report on the Internal Financial Controls Over Financial Reporting under
Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (‘the Act’)
We have audited the internal financial controls over financial reporting of
Chamundeshwari Electricity Supply Corporation Limited (‘the Company’) as at
March 31, 2017 in conjunction with our audit of the financial statements of the Company for
the year ended and as on that date.
Management’s Responsibility for Internal Financial Controls
The Board of Directors of the Company are responsible for establishing and
maintaining internal financial controls based on the internal control over financial reporting
criteria established by the Company considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
issued by the Institute of Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal financial controls that were
operating effectively for ensuring the orderly and efficient conduct of its business, including
adherence to the respective company’s policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy and completeness of the
accounting records, and the timely preparation of reliable financial information, as required
under the Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s internal financial
controls over financial reporting based on our audit. We conducted our audit in accordance
with the Standards on Auditing prescribed under Section 143(10) of the Act and the
Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the
“Guidance Note”), to the extent applicable to an audit of internal financial controls over
financial reporting. Those Standards and the Guidance Note require that we comply with the
ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether adequate internal financial controls over financial reporting was established and
maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the
adequacy of the internal financial controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over financial reporting includes
obtaining an understanding of internal financial controls over financial reporting, assessing
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67
the risk that a material weakness exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. The procedures selected
depend on the auditors’ judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the Company’s internal financial controls system
over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company’s internal financial control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A company’s internal financial control over financial
reporting includes those policies and procedures that
(1) Pertain to the maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the company;
(2) Provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are
being made only in accordance with authorisations of management and directors
of the company; and
(3) Provide reasonable assurance regarding prevention or timely detection of
unauthorised acquisition, use, or disposition of the company’s assets that could
have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial
reporting, including the possibility of collusion or improper management override of controls,
material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls over financial reporting to
future periods are subject to the risk that the internal financial control over financial reporting
may become inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
Qualified Opinion
According to the information and explanations given to us and based on our audit,
the following deficiencies in design / design and operation of controls resulting in significant
deficiencies and material weaknesses have been identified as at March 31, 2017:
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Inadequate design of internal control over the preparation of the financial statements
being audited and failure of the information and communication component of
internal control to provide complete and accurate output because of deficiencies in
timeliness, completeness, or accuracy, for timely identification and accounting of
liabilities and assets (including capitalisation for want of completion reports in
respect of completed works) resulting in prior period adjustments in the financial
statements.
Deficient implementation of internal controls as employees who lack training to fulfil
their assigned functions are noticed and some employees responsible for the
accounting and reporting function lack the skills and knowledge to apply generally
accepted accounting principles in recording the entity’s financial transactions.
Inadequate design / design and implementation of controls resulting in misstatement
unidentified by entity’s internal controls and involving estimations and judgements
resulting in material corrections / rectifications in the financial statements based on
audit.
Inadequate documentation of the components of internal control and inadequate
design of monitoring controls used to assess the design and operating effectiveness
of the entity’s internal control over time as no documentary evidences have been
furnished to us for any testing conducted by the management during the year of the
implemented internal financial controls to ensure their operational effectiveness
The absence of an internal process to report deficiencies in internal control to
management on a timely basis as significant delay in completion of internal audit
and reporting by the internal audit department at some divisions were noticed.
Non-updation of the accounts manual adopted / followed and laying down
comprehensive procedures for accounting (including identification of non-routine
and non-systematic transactions) and that are to be complied at the units and
divisions resulting in non-adherence of uniform accounting across the divisions /
units of the company.
Inadequate design / design and implementation of controls and procedures to
ensure adherence to appropriate selection of policy and their implementation to
comply with the mandatory accounting standards / generally accepted accounting
principles having a material impact on the financial statements and indicating a likely
ineffective oversight of entity’s financial reporting and internal control by those
charged with governance:
o Accounting Standard 2 on valuation of Inventories due to application / adoption
of standard rates in valuing certain inventory.
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o Accounting Standard 10 on Property, Plant and Equipment and Accounting
Standard 16 Accounting for Borrowing Costs having an effect on depreciation
charged and carrying amount of fixed assets in the financial statements due to:
Substantial delays (spanning even more than one accounting period) in
capitalisation and non-capitalisation of assets put to use included in capital work in
progress have been observed.
Depreciation on any adjustments to the historical cost of the fixed assets is not
charged prospectively over the residual life of the asset and is charged prospectively
considering as though such adjustments are new assets.
Derecognition of certain assets meant for reuse which temporarily dismantled and
non-charging of depreciation during the period between derecognition and
capitalization of re-conditioned assets. Capitalisation of reconditioned assets at the
carrying cost of the original asset (at which such assets were transferred to current
asset) when retired from active use initially.
Application of standard rates in respect of materials capitalized in project assets.
o Non-compliance of Accounting Standard 12 on Accounting for Government
grants due to inapproprate estimation and accounting of “Depreication
withdrawn from contribution/subsidy as per AS 12”.
o Non-compliance of Accounting Standard 15 on Retirement Benefits due to:
Non-provision for liability on leave encashment benefits and family benefit fund
based on actuarial valuation.
o Non-compliance of Accounting Standard 22 on Accounting for Taxes on Income
due to:
Recognition deferred tax liabilities on the tax effect of timing difference of
depreciation alone and without considering timing differences relating to
accumulated losses and other differences.
o Non-compliance of Accounting Standard 28 on Impairment of Asset due to:
Non-assessment at the Balance Sheet date of the existence of any impairment of its
assets (especially assets retired from active use / scrapped).
o Absence of a mechanism to ascertain the individual / cumulative effect of
non-compliance with accounting standards / generally accepted accounting
principles on the state of affairs and results of the company.
Inadequate design of internal control over a significant account or process due to
the following:
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o Accounting for accessories / components items forming part of the released
transformers, i.e., oil and coil items (based on schedule of rates) under other
current assets and correspondingly crediting the miscellaneous receipts account
at the time of withdrawal from the fixed assets instead of the carrying amount of
the released asset.
o Delay in reconciliation of significant and material account balances (say within a
quarter) for appropriate accounting of any adjustments that may be required.
o Recognition and measurement of regulatory assets to the extent of uncertainty
in realisability of such assets.
A ‘material weakness’ is a deficiency, or a combination of deficiencies, in internal
financial control over financial reporting, such that there is a reasonable possibility that a
material misstatement of the company's annual or interim financial statements will not be
prevented or detected on a timely basis.
In our opinion, except for the effects / possible effects of the material weaknesses
described above on the achievement of the objectives of the control criteria, the Company
has, in all material respects, maintained adequate internal financial controls over financial
reporting as of March 31, 2017, based on “the internal control over financial reporting criteria
established by the Company considering the essential components of internal control stated
in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued
by the Institute of Chartered Accountants of India”, and the Company’s internal financial
controls over financial reporting were operating effectively as of March 31, 2017.
We have considered the material weaknesses identified and reported above in
determining the nature, timing, and extent of audit tests applied in our audit of the March 31,
2017 financial statements of the Company, and these material weaknesses do not affect our
opinion on the standalone financial statements of the Company.
FOR GANESAN AND COMPANY
CHARTERED ACCOUNTANTS
FIRM REGN NO. 000859S
Sd/-
G.HARI GOVIND
PARTNER.
M.NO.206563
Place : Mysuru
Date : 21.09.2017
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
71
Form No. MR-3
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies
(Appointment and Remuneration Personnel) Rules, 2014]
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 2016-17
To
The Members,
M/s. Chamundeshwari Electricity Supply Corporation Limited
No. 29, Vijayanagara 2nd stage,
Hinakal, Mysuru 570017
We have conducted the Secretarial Audit of the compliance of applicable statutory
provisions and the adherence to good corporate practices by M/s. Chamundeshwari
Electricity Supply Corporation Limited, (Hereinafter called the company). Secretarial
Audit was conducted in a manner that provided us a reasonable basis for evaluating the
corporate conducts/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and
returns filed and other records maintained by the Company and also the information
provided by the Company, its officers, agents and authorized representatives during the
conduct of secretarial audit, we hereby report that in our opinion, the company has, during
the audit period covering the financial year ended on 31st March 2017 complied with the
statutory provisions listed hereunder and also that the Company has proper Board-
processes and compliance-mechanism in place to the extent, in the manner and subject to
the reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns filed and
other records maintained by M/s. Chamundeshwari Electricity Supply Corporation
Limited (“the Company”) for the financial year ended on 31st March 2017 according to the
provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made there under;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made
there under;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there
under;
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72
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made
there under to the extent of Foreign Direct Investment, Overseas Direct
Investment and External Commercial Borrowings;
(v) The following Regulations and Guidelines prescribed under the Securities and
Exchange Board of India Act, 1992 (‘SEBI Act’):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of
Shares and Takeovers) Regulations, 2011;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 1992;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2009;
(d) The Securities and Exchange Board of India (Employee Stock Option
Scheme and Employee Stock Purchase Scheme) Guidelines, 1999;
(e) The Securities and Exchange Board of India (Issue and Listing of Debt
Securities) Regulations, 2008;
(f) The Securities and Exchange Board of India (Registrars to an Issue and
Share Transfer Agents) Regulations, 1993 regarding the Companies Act and
dealing with client;
(g) The Securities and Exchange Board of India (Delisting of Equity Shares)
Regulations, 2009; and
(h) The Securities and Exchange Board of India (Buyback of Securities)
Regulations, 1998;
We have also examined compliance with the applicable clauses of the following:
(I) Secretarial Standards with respect to Meetings of Board of Directors (SS-1)
and General Meetings (SS-2) issued by The Institute of Company
Secretaries of India (effective from 1st July, 2015)
Our scope of Audit is restricted to compliances under the Companies Act, 2013 and
rules made there under and other Acts, as specified above, which are applicable to the
company.
The provisions of Clause (ii), (iii). (iv) and Clause (V) are not applicable for this
company.
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Company Law:
Matter for Emphasis:
1. The Company has not amended the Articles of Association in line with the new
Companies Act, 2013; it is suggested to amend the same.
2. The Company has not appointed a Company Secretary, who is also regarded as
KMP under the Companies Act, 2013. However, it was observed that company
has made an effort in securing the services of Practicing Company Secretary on
contract basis.
Labour Law:
1. All the premises and establishment have been registered with the appropriate
authorities.
2. The company has not employed any child labour/Bonded labour in any of its
establishments.
3. The company is ensuring the compliance of PF to the employees.
VAT Act
1. The Company has complied with procedures of VAT Act; the payment has been
made accordingly within stipulated time.
We further report that:
The Board of Directors of the Company is duly constituted being nominees of the
Government, The Company has independent Directors. The changes in the composition of
the Board of Directors that took place during the period under review were carried out in
Compliance with the provisions of the Act.
Adequate notice is given to all directors to schedule the Board Meetings, agenda and
detailed notes on agenda were sent at least seven days in advance, and a system exists for
seeking and obtaining further information and clarifications on the agenda items before the
meeting and for meaningful participation at the meeting.
We further report that there are adequate systems and processes in the company
commensurate with the size and operations of the company to monitor and ensure
compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period the Company has-
1. Not issued Public/Right/Preferential issue of shares / debentures/sweat equity,
etc.
2. No Redemption / buy-back of securities
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3. No Major decisions taken by the members in pursuance to section 180 of the
Companies Act, 2013
4. No Merger / amalgamation / reconstruction, etc.
5. No Foreign technical collaborations.
TSDJ & Associates
Company Secretaries
Sd/-
Sheela Arvind Partner
Membership No: 32648 CP No: ACS 11992
FRN No.P2015KR043500
Place: Bengaluru
Date: 20/09/2017
This report is to be read with our letter of even date which is annexed as Annexure A and
forms an integral part of this report.
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
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“Annexure A”
To
The Members,
M/s. Chamundeshwari Electricity Supply Corporation Limited
No. 29, Vijayanagara 2nd stage,
Hinakal, Mysuru 570017
Our report of even date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the
company. Our responsibility is to express an opinion on these secretarial records based
on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain
reasonable assurance about the correctness of the contents of the Secretarial records.
The verification was done on test basis to ensure the correct facts are reflected in
secretarial records. We believe that the process and practices, we followed provide a
reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and books
of accounts of the Company.
4. Whenever required, we have obtained the Management representation about the
compliance of laws, rules and regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable laws, rules,
regulations, standards is the responsibility of the management. Our examination was
limited to the verification of procedures on test basis.
6. The Secretarial Audit report is neither as assurance as to the future viability of the
Company nor of the efficacy or effectiveness with which the management has conducted
the affairs of the Company.
TSDJ & Associates
Company Secretaries
Sd/-
Sheela Arvind Membership No: 32648
CP No: ACS 11992 FRN No.P2015KR043500
Place: Bengaluru
Date: 20/09/2017
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
76
ANNEXURE – 2 – VAT ACT
Vat 100 Filling Details
Sl.
No Month Return Ref No Due Date Date of Filling
Date of
Payment Remarks
1 Apr-16 3531189970
3745919377 20/05/2016
20/05/2016
27/10/2016
19/05/2016
20/07/2016 NA
2 May-16 3529704956
3886400917 20/06/2016
20/06/2016
30/11/2016 20/07/2016 NA
3 June-16 3611284607
3816869397 20/07/2016
20/07/2016
26/12/2016
20/07/2016
20/08/2016 NA
4 July-16
3689793059
3754360841
3966587122
20/08/2016
20/08/2016
29/09/2016
30/01/2017
20/08/2016
19/11/2016 NA
5 Aug-16 3703234539
4034046972 20/09/2016
20/09/2016
28/02/2017 20/09/2016 NA
6 Sep-16
3772762110
3706920261
4073379283
20/10/2016
20/10/2016
27/10/2016
20/03/2017
20/10/2016
20/12/2016
19/11/2016
NA
7 Oct-16 3892215220 20/11/2016 19/11/2016 19/11/2016 NA
8 Nov-16 3895762911
4265029611 20/12/2016
20/12/2016
26/05/2017
20/12/2016
20/01/2017 NA
9 Dec-16 3902468131
4221528380 20/01/2017
20/01/2017
28/06/2017 20/01/2017 NA
10 Jan-17 3921925023
4347079421 20/02/2017
20/02/2017
31/07/2017 17/02/2017 NA
11 Feb-17 4081374963
4392178505 20/03/2017
20/03/2017
31/08/2017 20/03/2017 NA
12 Mar-17 41500051747 20/04/2017 20/04/2017 18/04/2017 NA
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
77
Annexure 1: Company Information
Sl.No. Particulars
1. Name of the Company M/s.CHAMUNDESHWARI ELECTRICITY
SUPPLY CORPORATION LIMITED
2. CIN No. of the Company U40109KA2004SGC035177
3. Date of Incorporation 06/12/2004
4. Authorized Share Capital 750,00,00,000
5. Subscribed Share Capital 5,08,56,54,340
6. Paid Up Share Capital 5,08,56,54,340
7. Registered Office Address No. 29, Vijayanagara 2nd stage, Hinakal,
Mysuru 570017
2: Changes in Capital Structure during 01/04/2016 to 31/03/2017.
CAPITAL STRUCTURE (In `)
Particulars
As on
01/04/2016
Add: increase
in capital (if
any)
Less:
reduction in
capital (if any)
Date of
passing
Resolution
Capital as on
31/03/2017
Authorized
Capital
6,000,000,000 1,500,000,000 - 17/01/2017 750,00,00,000
Equity 60,00,00,000 15,00,00,000 - 17/01/2017 75,00,00,000
Unclassified - - - - -
Issued Capital 508,56,54,340 - - - 508,56,54,340
Subscribed
Capital
508,56,54,340 - - - 508,56,54,340
Paid-up Capital 508,56,54,340 - - - 508,56,54,340
Public Issue - - Not Applicable - -
Rights Issue - - Not Applicable - -
Bonus Issue - - Not Applicable - -
Private
Placement/
- - Not Applicable - -
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
78
CAPITAL STRUCTURE (In `)
Particulars
As on
01/04/2016
Add: increase
in capital (if
any)
Less:
reduction in
capital (if any)
Date of
passing
Resolution
Capital as on
31/03/2017
Preferential
Allotment (other
than conversion)
Private
Placement/
Preferential
Allotment
(arising out of
conversion)
- - Not Applicable - -
Allotment of
shares pursuant
to ESOP
- - Not Applicable - -
Allotment
consequent to
Scheme of
Arrangement/
Merger/
Amalgamation
etc.
- - Not Applicable - -
Buy back of
shares
- Not Applicable - - -
Reduction of
Capital
- Not Applicable - - -
Share Forfeited - - - - -
1. The Company has enhanced the Authorised Capital from ` 600,00,00,000 to
` 750,00,00,000 in the Extra Ordinary General meeting held on 17/01/2017.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
79
3: Directors & KMP (Existing and any change made between 01/04/2016 to 31/03/2017)
Sl.
No. Name & Designation Address
Date of
Appointment
Date of
Cessation
1
Poondla Ravi Kumar
director
DIN : 02285126
No. 373,12th Cross, 5main,
Hig Colony, New Bel Road,
Bangalore, 560094 Karnataka
10/02/2014
10/03/2017
2
Kiran Doddappa
Managing director
DIN : 06849060
#1620, 6th A Main,,
Ramakrishna Nagar, Mysore,
570022, Karnataka
10/01/2014 -
3
Munivenkatappa Nagaraja
Director
DIN: 02893520
29/1, 2nd Cross,
Kanakanapalya 4th Block,
Jayanagar, Bangalore BBMP,
560011, Karnataka
08/10/2009 -
4
Shikha Chandramohan
Director
DIN: 06447295
A.T.I, Lalitha Mahal Road,
Mysore, 570011, Karnataka 21/08/2013 07/04/2016
5
Sumanth Shankar Rao
Independent Director
DIN: 00349212
No. 234, 6th Main, Jayanagar
4th Block, Bangalore, 560011,
Karnataka
06/09/2013 01/12/2016
6
Alana Shivanna
CFO ( KMP)
PAN: ARAPS5683G
No. 570, First Main, Kuvempu
Road, Bogadi Village, Mysore,
570026, Karnataka
01/12/2014 -
7
Pratap Maneiah
Director
DIN: 07089349
No. 73 6th main, 2nd stage, E
Block, Rajaji Nagar,
Bangalore, 560010, Karnataka
12/12/2014 -
8
T H Mohan Kumar
Director
DIN: 07171390
#237, 67th Cross, 5th Block,
Rajajinagar, Bengaluru,
560010, Karnataka, India
17/01/2015 07/04/2016
9
Sindhu B
Director
DIN: 07169103
720,11th Main, T K Layout,4th
Stage, Mysore, 570009,
Karnataka
02/03/2015 31/12/2016
10
Alenahalli Ningegowda
Jayaraj
Director
DIN: 07178623
32 1st Cross 6th Main
Sarvabouma Nagar
Chikkallasa, Bangalore South
Subramanyapura Bangalore
South, Bangalore, 560061
07/04/2015 -
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
80
Sl.
No. Name & Designation Address
Date of
Appointment
Date of
Cessation
11
Narayanappa Lakshmana
Director
DIN: 06724550
399, 4th Crs, 4th Mn, Hebbal,
Kempapura, Coffee Board
Layout, Bangalore, 560024,
Karnataka
17/06/2015 17/08/2016
12
Arif Khan
Director
DIN : 07540019
#61 AP Road, Pension
Mohalla, Hassan,
Karnataka, 573201
09/06/2016 -
13
Dasabhovi Gopal
Director
DIN : 07544671
S/O Late Dasabhovi
#110,2nd Cross, Raghavendra
Nagar, Mysore, Karnataka
570011
15/06/2016 -
14
Huchegowda
Director
DIN : 07532198
Sannenahalli,
Sagathavalli Hassan
Karnataka, 573116
31/05/2016 -
15
Swamy Gowda
Director
DIN : 07532258
212, 25th Cross,
Kuvempunagar, Hassan,
Karnataka 573201
-
16
Kasturaiah Govindraju
Independent Director
DIN: 06754470
#758, 8th main, 3rd stage
4th block, Basaveswaranagar
Bangalore Karnataka, 560079
07/05/2016 24/09/2016
17
Ajay Nagabhushan
Director
DIN: 02714891
CEO Quarters, Narayanpur
Near TV Tower, Haliyal Road
Dharwad, Karnataka,580008
07/05/2016 12/09/2016
18
K T Mahantappa
Director
DIN : 06981574
Quarter Number 1, New
Electric Colony, Kotitopu
Road, Tumkur, Karnataka,
572102
17/08/2016 -
19
Doddaiah Siddaraju
Director
DIN : 07585636
4-24, Kollegal-11, Kollegal
Karnataka, 571440 08/08/2016 -
20
Charulata Somal
Director
DIN : 07540067
G-30 Hyderabad Estate
L.D. Rupar3el Marg
Mumbai, Maharashtra
400006
03/08/2016 -
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
81
Sl.
No. Name & Designation Address
Date of
Appointment
Date of
Cessation
21
Shivakumar D K
Director
DIN : 02021885
# 602/A5, 18th Cross, Upper
Palace Orchards,
Sadashivanagar, Malleswaram
Bangalore Karnataka 560080
24/09/2016 10/03/2017
22
Hanumappa Nagesh
Director
DIN: 02309417
#001, No.15, Cornwell Road
Langford Town, Bg-25
Bangalore, Karnataka
560025
01/12/2016 -
23
Pavan Kumar Malapati
Director
DIN : 07793505
No. 3/1, Mustur,
Bathalapalli, Anantapur
Andhra Pradesh 515001
31/12/2016 -
24
Rajneesh Goel
Director
DIN : 02019133
Managing Director, KSIIDC,
Khanija Bhavan, 4th Floor, 49,
Race Course Road,
Bangalore, Karnataka 560001
10/03/2017 -
25
Chandrakala B K
Director
DIN : 07536471
Belagavally Estate,
Bikkode(Venktipete), Hassan,
Karnataka 573215
06/06/2016 -
26
Madan Murali
Director
DIN : 07532253
17B Nanjappa Bld
Opp Taluk Off Bsk
Shakambarinagar K K Pura
RD, Bangalore, Karnataka
560070
31/05/2016 -
27
Latha Jayanna
Director
DIN : 07540068
#230-2, Alur Chamarajanagar
TQ,Karnataka, 571113 09/06/2016 -
28
C K Suresh
Director
DIN : 07532257
20, A Cholenahalli,
D G Halli, C R Patna Hassan
Dist, Karnataka, 573220
31/05/2016 -
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
82
4: List of Share Holding pattern as on AGM Date 26/09/2016
Sl.
No Name of the Shareholders
No. of
Shares held
Nominal Value
of the Shares
held (in )
Percentage
Shareholding
( % )
1
Governor of Karnataka represented
by: P. Ravikumar (as Nominee of GOK)
Addl. Chief Secretary,
Energy Department , Govt. of Karnataka
No.236, Vikasa Soudha
Bangalore-560001
50,85,65,428 10 99.9999988
2
ISN Prasad
Principal Secretary
Finance Department Govt. of
Karnataka, Vidhana Sauda,
Bangalore-560 001
(as Nominee of GoK)
1 10 0.000000196
3
D Kiran, IRS
Managing Director - CESC
No. 927 LJ Avenue Commercial
Complex, New Kantharaj Urs Rd
Saraswathipuram, Mysore-570 016
(as Nominee of GoK)
1 10 0.000000196
4
S. Sumanth
Director (Technical) - CESC
No. 927 LJ Avenue Commercial
Complex, New Kantharaj Urs Rd
Saraswathipuram, Mysore-570 016
(as Nominee of GoK)
1 10 0.000000196
5
K T Mahantappa
Director (Technical) - CESC
No. 927 LJ Avenue Commercial
Complex, New Kantharaj Urs Rd
Saraswathipuram, Mysore-570 016
(as Nominee of GoK)
1 10 0.000000196
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
83
4: List of Share Holding pattern as on AGM Date 26/09/2016
Sl.
No Name of the Shareholders
No. of
Shares held
Nominal Value
of the Shares
held (in )
Percentage
Shareholding
( % )
6
M Pratap
Chief Engineer, Transmission zone,
KPTCL, FTS compound, NR Mohalla,
Mysore, (as Nominee of GoK)
1 10 0.000000196
7
R Balasubramanian
Executive Director (CA) & Company
Secretary, KPC Ltd., RC Road
Bangalore-560 001
(as Nominee of GoK)
1 10 0.000000196
Total 50,85,65,434 10 100
5: Transfers during the Year:
Sl.
No.
Date of
Transfer Transferor’s Name
Folio
No.
Transferee’s
Name
Folio
No.
No. Of
Shares
1 25/06/2016 C. Shikha 32 S. Sumanth 39 01
2 25/08/2016 N.Lakshman 38 K T Mahantappa 40 01
3 17/01/2017 S.Sumanth 35 H Nagesh 41 01
4 17/01/2017 R. Balasubramanian 27 K T Hiriyanna 42 01
Note: 1. Sri. S. Sumanth and Sri. R.Balasubramanian were shareholders as on Annual
General Meeting dated 26th September 2016 and consecutively their shares were
transferred to Sri. Nagesh and Sri. K T Hiriyanna as on 17th January 2017 as reflected
above.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
84
6: Forms, Returns filed by the company between 01/04/2016 to 31/03/2017.
Forms and Returns filed by the Company pursuant to the provisions of the Companies Act, 2013 read with
the Rules/ Regulations made there under
Financial Year 2016 – 17
Sl.
No.
Form
No.
Section &
Rule
Applicable
Particulars
of Filing
Date of
Filing
Whether
filed within
the
prescribed
time
In case of delay,
whether
prescribed
procedure
followed and
additional fees
paid
SRN Status
1 Form ADT-1 Section 139 Auditors
Appointment 26/10/2016 No
Yes With Additional
Fees (600+3600) G17607201 Filed
2 Form CHG-1 Section 77
Creation with Rural
Electrification
Corporation Limited
20/09/2016 Yes - G11868676 Filed
3 Form CHG-1 Section 77 Creation with State
Bank of Mysore 07/10/2016 NO
Yes Additional
Fees (600+1200) G13872635 Filed
4. Form CHG-1 Section 77 Creation with State
Bank of Mysore 16/05/2016 YES -
G03367356 Filed
5. Form CRA-4 Section148 Cost auditor report 26/10/2016 Yes - G17893785 Filed
6 Form DIR-12 Section 168
& 170
Sri. Ajay
Nagabhushan 05/11/2016 No
Yes with additional
fees (600+6000) G19972777 Filed
7 Form DIR-12 Section 168
& 170
Sri. Ajay
Nagabhushan 07/11/2016 No
Yes with additional
fees (600+1200) G20176921 Filed
8 Form DIR-12 Section 168
& 170
1. Sri. Arif khan
2. Sri. Dasabhovi
Gopal
3. Sri. Huchegowda
4. Sri. Swamy
Gowda
29/08/2016
No
Yes with additional
fees
(600+2400)
G10125623
Filed
9 Form DIR-12 Section 168
& 170
1. Sri. Shikha
Chandramohan
2. Sri. Thamenahalli
Hanumantharaya
ppa Mohankumar
30/08/2016 No
Yes with additional
fees (600+6000)
G10215994 Filed
10 Form DIR-12 Section 168
& 170
Sri. Shivakumar
Kempegowda
Doddahalahalli
10/11/2016 No
Yes with additional
fees (600+1200)
G21121603 Filed
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
85
Sl.
No.
Form
No.
Section &
Rule
Applicable
Particulars
of Filing
Date of
Filing
Whether
filed within
the
prescribed
time
In case of delay,
whether
prescribed
procedure
followed and
additional fees
paid
SRN Status
11 Form DIR-12 Section 168
& 170
Sri. Kasturaiah
Govindraju 04/11/2016 No
Yes with additional
fees (600+6000) G19795830 Filed
12 Form DIR-12 Section 168
& 170
1. Sri.Narayanapp
a Lakshmana
2. Sri. Kukkawada
Totadabasappa
Mahantappa
3. Sri. Doddaiah
Siddaraju
10/11/2016 No Yes with additional
fees (600+3600) G21071469 Filed
13 Form MGT 14 Section 117 56th BM 10/05/2016 YES - G02991420 Filed
14 Form MGT 14 Section 117 56th BM 10/05/2016 yes - G02983765 Filed
15 Form MGT 14 Section 117 59th BM 19/09/2016 No Yes with additional
fees (600+1200) G11768652 Filed
16 Form MGT 14 Section 117 49th BM 10/05/2016 Yes - G02994275 Filed
17 Form PAS 3 Section 39 56th BM 22/06/2016 Yes - G05805486 Filed
18 Form SH 7 Section 64
Enhancement
Of Authorised
share capital
13/05/2016 Yes - G03241775 Filed
19 Form AOC-4 Section 134
Balance Sheet &
Profit & Loss
account
07/12/2016 NO Yes Additional
Fees (600+2400) G28574663 Filed
20 Form MGT-7 Section 92 Annual Return 25/11/2016 Yes - G24938789 Filed
21 Form CHG-1 Section 77
Creation with Rural
Electrification
Corporation Limited
17/04/2017 YES - G41118753 Filed
22 Form CHG-1 Section 77
Creation with Rural
Electrification
Corporation Limited
30/03/2017 Yes - G39552245 Filed
23 Form SH 7 Section 64
Enhancement
Of Authorised
capital
22/03/2017 No
Yes with additional
fees
(600+19)
G38826509 Filed
24 Form MGT
14 Section 117 62nd BM 24/03/2017 NO
Yes with additional
fees
(600+2400)
G39042619 Filed
25 Form CHG-1 Section 77 Creation with Rural 30/03/2017 Yes - G39552435 Filed
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
86
Sl.
No.
Form
No.
Section &
Rule
Applicable
Particulars
of Filing
Date of
Filing
Whether
filed within
the
prescribed
time
In case of delay,
whether
prescribed
procedure
followed and
additional fees
paid
SRN Status
Electrification
Corporation Limited
26 Form CHG-1 Section 77 Creation with
Syndicate Bank 03/04/2017 Yes - G39935713 Filed
7: Board Meeting Minutes
MINUTES
Board Meeting
Date of
Meeting
Gap
Between
the two
Board
Meetings
Has the
notice
been
served
on time
Place of
Meeting
Total No. of
Directors on
the Board on
date of
Meeting
Leave of
Absence
Granted
to
Director
Total No.
of
Directors
Present
Chairman of the
Meeting
04/07/2016 95 Days Yes Vikasa
Souda 20 3 17 Sri. P.Ravikumar
16/07/2016 11 Days Yes Registered
Office 20 5 15 Sri. P.Ravikumar
20/08/2016 34 Days Yes Registered
Office 20 5 15 Sri. P.Ravikumar
17/09/2016 27 Days Yes Registered
Office 20 6 14 Sri.P.Ravikumar
26/09/2016 8 Days Yes Registered
Office 20 4 16 Sri. D.K. Shivakumar
17/01/2017 112 Days Yes
Kaveri
Bhavan,
KPTCL
20 4 16 Sri. D.K. Shivakumar
Note: 1. Smt.B.Sindhu and Sri. Ajay Nagabhushan Directors has not attended any Board
Meeting during their tenure of Directorship.
8. Purchase Committee meeting details:
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
87
The Company has constituted the Purchase Committee comprising 3 Members i.e.,
Sri. D. Kiran (Chairman), Sri. N. Lakshmana, Sri. M Pratap. Shri. Lakshmana transferred
with effect from 17th August 2016 and Shri. K.T.Mahantappa was appointed in his place.
The Company has Conducted 6 (Six) Purchase Committee meeting during the year 2016-
17, i.e. on 06.04.2016, 08.07.2016, 27.08.2016, 14.11.2016, 23.12.2016 and 04.03.2017 at
the registered office of the Company.
9. Audit Committee Meeting Details:
The Company has constituted the Audit committee meeting comprising 4
Directors, i.e, Sri. H.Nagesh, Sri. K.T. Mahantappa, Sri. M.Pratap, Sri. Pavan Kumar
Malapati The Company has conducted 2 (Two) Audit Committee meeting during the Year
2016-17 i.e on 08.07.2016 and 17.01.2017
10: Annual/Extra Ordinary General Meeting Minutes
Date of
Meeting
Date of
serving the
Notice
Place of
Meeting
No. of
Members
Attended
the
Meeting
No. of
Proxy
attended
the
Meeting
Chairman of the
Meeting
26/09/2016
AGM
(Conducted at
Shorter Notice)
24/09/2016 Registered
Office
7
-
Shri. D.K.Shivakumar
Chairman & Governor’s
representative
EGM
(Conducted at
Shorter Notice)
17/01/2017
KPTCL,
Cauvery
Bhavan
6
-
Shri. D.K.Shivakumar
Chairman & Governor’s
representative
Note: 1. Sri.H.Nagesh was granted Leave of Absence from attending EGM.
10: Details Regarding Office of Place of Profit:
CESCOM being a government company, the above provision is not applicable. All
the directors are Government representative, there is no interest being government
nominees.
11: KEY MANAGERIAL PERSONNEL
Name of Person /PAN: KIRAN DODDAPPA
Qualification: IRS Officer
Age : 38 Years
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
88
Designation: Managing Director
Date of Appointment: 01/12/2014
Remuneration as per last Salary drawn: Rs.13,47,895 (as per Schedule V)
Date of filing of MGT-14 and DIR12 and SRN: Filed DIR 12 Vide SRN C02784114
No. of shares held: 01
12: Creation of Charge.
Sl.
No. Charge ID
Date of
Charge
Creation/
Modification
Charge
amount
secured
Charge Holder Address
Service
Request
Number
(SRN)
1 100090065 30/03/2017 100,00,00,000
Rural
Electrification
Corporation
Limited
1/5 Halasuru
Road Bangalore
560042
G41118753
2 100092096 30/03/2017 250,00,00,000 Bank of India
#15, Vectra
House, 3rd Floor,
1st Main Road,
6th Cross,
Gandhinagar,
Bengaluru KA
560009I
G41833310
3 100086443 16/03/2017 22,87,32,000
Rural
Electrification
Corporation
Limited
1/5, Halasuru
Road, Bangalore
KA560042
G39552245
4 100086445 16/03/2017 100,00,00,000
Rural
Electrification
Corporation
Limited
1/5 Halasuru
Road Bangalore
KA 560042
G39552435
5 100087361 10/03/2017 175,00,00,000 Syndicate
Bank
Kuvempunagar
Branch New
Kantharaja Urs
Road Mysore KA
570023
G39552435
6 100049975 25/08/2016 100,00,00,000 Rural
Electrification
Core 4scope
Complex 7 Lodi
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
89
Sl.
No. Charge ID
Date of
Charge
Creation/
Modification
Charge
amount
secured
Charge Holder Address
Service
Request
Number
(SRN)
Corporation
Limited
Road New Delhi
110003
G11868676
13: CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Company has formed the CSR Committee with effect from 4th July 2016. The
Members of the CSR Committee are Sri. H. Nagesh (Chairman), Sri. K T Mahantappa and
Sri. M.Pratap. The Company is yet to execute selected projects on Corporate Social
Responsibility.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
90
COMMENTS OF THE COMPTROLLER AND AUDITOR GENRAL OF INDIA
UNDER SECTION 143(6) (b) OF THE COMPANIES ACT, 2013 ON THE
FINANCIAL STATEMENTS OF CHAMUNDESHWARI ELECTRICITY SUPPLY
CORPORATION LIMITED, MYSORE FOR THE YEAR ENDED 31 MARCH 2017.
The preparation of financial statements of Chamundeshwari Electricity Supply
Corporation Limited, Mysore for the year ended 31 March 2017 in accordance with the
financial reporting framework prescribed under the Companies Act, 2013 is the responsibility
of the management of the company. The statutory auditor appointed by the Comptroller and
Auditor General of India under section 139 (5) or 139(7) of the Act is responsible for
expressing opinion on the financial statements under section 143 of the Act based on
independent audit in accordance with the standards on auditing prescribed under
section 143(10) of the Act. This is stated to have been done by them vide their Audit Report
dated 21.09.2017.
I, on behalf of the Comptroller and Auditor General of India, have conducted a
supplementary audit under section 143(6) (a) of the Act of the financial statements of
Chamundeshwari Electricity Supply Corporation Limited, Mysuru for the year ended
31 March 2017 .This supplementary audit has been carried out independently without
access to the working papers of the statutory auditors and is limited primarily to inquiries of
the statutory auditors and company personnel and a selective examination of some of the
accounting records. In view of the revisions made in the financial statements by the
management, as a result of my audit observations highlighted during supplementary audit as
indicated in the Note No. 36 of the financial statements, I have no further comments to offer
upon or supplement to the statutory auditors’ report under section 143(6)(b) of the Act.
For and on behalf of the
Comptroller and Auditor General of India
Sd/-
(BIJIT KUMAR MUKHERJEE)
ACCOUNTANT GENERAL
(ECONOMIC & REVENUE SECTOR AUDIT)
KARNATAKA,BENGALURU
Bengaluru
Date:- 21.09.2017
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
91
BALANCE SHEET AS AT 31st MARCH 2017
(Amount ` in Lakhs)
SL. NO.
PARTICULARS NOTE
NO
AS AT THE END OF CURRENT
REPORTING PERIOD 31.3.2017
AS AT THE END OF PREVIOUS
REPORTING PERIOD 31.3.2016
I EQUITY AND LIABILITIES
(1) Shareholder's Funds
a) Share Capital 1 50856.54
50856.54
b) Reserves and Surplus 2 6395.50
-3510.81
(2) Share Application Money Pending Allotment
3 15229.00
1400.00
Sub-Total
72481.04
48745.74
(3) Non-Current Liabilities
a) Long-term borrowings 4 100404.03
85330.24
b) Deferred Tax Liabilities(Net)
5 9074.61
7169.05
c) Other long term liabilities
6 61837.94
55861.14
d) Long-term Provisions 7 0.00
0.00
Sub-Total
171316.58
148360.43
(4) Current Liabilities
a) Short-term borrowings 8 24013.03
4157.85
b) Trade payables
Dues to MSMEs
0.00
0.00
Due to others 9 286800.53
231553.78
c) Other current liabilities 10 99120.36
92320.43
d) Short-term provisions 11 588.99
0.00
Sub-Total
410522.91
328032.05
TOTAL
654320.53
525138.22
II Assets
1 Non-Current assets
(a) Fixed assets
(i) Tangible Assets 12 229200.49
188993.53
(ii) Intangible assets 13 515.17
3.31
(iii) Capital work-in-progress
14 26019.02
26174.35
(iv) Intangible assets under development
15 351.20
0.00
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
92
SL. NO.
PARTICULARS NOTE
NO
AS AT THE END OF CURRENT
REPORTING PERIOD 31.3.2017
AS AT THE END OF PREVIOUS
REPORTING PERIOD 31.3.2016
(b) Non-Current investments
16 251.00
251.00
( c) Deferred tax assets (net) 17 0.00
0.00
(d) Long term loans and advances
18 0.00
4.69
(e) Other non-current assets
19 122017.83
52395.08
Sub-Total
378354.71
267821.95
2 Current assets
(a) Current Investments 20 0.00
0.00
(b) Inventories 21 5081.52
6831.39
(c ) Trade receivables 22 216031.85
181241.76
(d) Cash and bank Balances
23 16728.92
19178.99
(e) Short-term loans and advances
24 6728.46
12737.14
(f) Other current assets 25 31395.06
37326.99
Sub-Total
275965.82
257316.27
TOTAL
654320.53
525138.22
Significant Accounting policies, Notes on Accounts form integral part of these financial statements
Sd/- Sd/- Sd/-
(A.Shivanna) (K.T. Mahanthappa) (D.Kiran)
Chief Financial Officer Director (Technical) Managing Director
PLACE: MYSURU
DATE : 21.09.2017
In terms of our report of
Even date attached herewith
For Ganesan & Company
Chartered Accountants
Sd/-
(G.HARIGOVIND)
Partner
Membership No: 206563
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
93
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31.03.2017
(Amount ` in Lakhs)
SL. NO. PARTICULARS
NOTE NO.
CURRENT YEAR
2016-17
PREVIOUS YEAR
2015-16
I Revenue from operations (Distribution of Power) 26 347902.86 277583.10
II Other Income 27 21132.44 21523.42
III Total Revenue (I+II)
369035.30 299106.52
IV Expenses
Purchase of Power 28 326690.70 271774.60
Employee Benefits Expense 29 31541.01 32765.04
Finance Costs 30 19720.03 15030.15
Depreciation and amortization expenses 31 14757.07 11745.83
Other Expenses 32 23406.14 11947.37
Total Expenses
416114.95 343263.00
V PROFIT BEFORE TAX & RATE REGULATED ACTIVITIES (III-IV)
-47079.65 -44156.47
VI Less Regulatory Income / Expenses 33 51798.60 46446.00
VII Extraordinary Items
VII PROFIT BEFORE TAX (V-VI)
4718.95 2289.53
VIII TAX EXPENSE
Provision for Taxation - Current Tax
34
669.02 0.00
Short Provision for Income Tax- Previous years 0.00 0.00
Deferred Tax Asset / Liability 1905.56 1497.25
IX Profit / (Loss) from the period from continuing operations (VII-VIII)
2144.37 792.28
X Profit / (Loss) from discontinuing operations
XI Tax expense of discontinuing operations
0.00 0.00
XII Profit / (Loss) from discontinuing operations (after Taxes)
XIII Profit / (Loss) for the period (IX +/- XII)
2144.37 792.28
XIV Earning per equity share (in `)
0.66 0.24
Basic and diluted
Significant Accounting policies, Notes on accounts form integral part of these financial statement.
Sd/- Sd/- Sd/- (A.Shivanna) (K.T. Mahanthappa) (D.Kiran) Chief Financial Officer Director (Technical) Managing Director PLACE: MYSURU DATE : 21.09.2017
In terms of our report of even date attached herewith
For Ganesan & Company Chartered Accountants
Sd/-
(G.HARIGOVIND) Partner
Membership No: 206563
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
94
CASH FLOW STATEMENT FOR THE YEAR 2016-17
(Amount ` in Lakhs)
Particulars Current Year 2016-17 Previous Year 2015-16
A. Cash Flow from Operating activities
Profit before taxation 4718.95
2289.54
4718.95
2289.54 ADD : Adjustments for
Depreciation 15829.05
12870.44
Interest & Finance Charges 19720.03
15030.15
Income tax/Deferred Tax -2574.58 32974.51 -1497.25 26403.35 Operating Profit before Working Capital Changes
37693.46
28692.88
Adjustments for
Trade receivables -25721.09
51672.72
Other Receivables -58138.58
-53317.37
Loans,deposits & Advances (Non trade) -283.42
-93.45
Trade/Current payables 45295.36
3684.40
Reserve for Material cost variance
-4051.56
Inventories -520.07
-2601.37
Other bank balance 728.08 -38639.73 137.54 -4569.10 Cash generated from Operations
-946.27
24123.78
Less Net Income tax (paid)/refunds 35.34 35.34
25.46 Net Cash from operating activities (Total of 'A')
-910.94
24149.25
B. Cash Flow from Investing Activities
Purchase/Acquisition of fixed Assets (Net) -54277.94
-58045.96
Capital Works in Progress -195.88
13977.77
Capital Advances 5922.85
3885.26
Net Cash from Investing activities (Total of 'B')
-48550.96
-40182.94 C. Cash Flow from Financing Activities
Proceeds from Borrowings 74964.55
45398.53
Repayments of borrowings -36366.46
-22452.58
Shares Pending allotment 13829.00
12773.04
Contribution, grant and Subsidy towards Capital assets
11162.93
2658.30
Service Line & Security Deposits 1075.22
1226.01
Interest & Finance Charges -16925.33
-13661.89
Net Cash Flow from Financing Activities (Total of 'C')
47739.91
25941.41
(Increase)/(Decrease) in Cash & Cash Equivalents
-1721.99
9907.72
Add : Cash and Cash equivalents as at the commencement of the Period
18325.66
8417.94
Cash and Cash Equivalents as at the end of the Period
16603.67
18325.66
Notes: 1.The above statement has been prepared in indirect method as per AS-3 2. Cash and Cash equivalent refer note 23 of the financial statement
Sd/-
(A.Shivanna) Chief Financial Officer
Sd/- (K.T. Mahanthappa)
Director (T)
Sd/- (D.Kiran)
Managing Director
PLACE: MYSURU
DATE : 21.09.2017
In terms of our report of even date attached herewith For Ganesan and Company
Chartered Accountants
Sd/- (G.HARIGOVIND)
Partner Membership No 206563
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
95
NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31.3.2017
NOTE: 01 SHARE CAPITAL
(`in Lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
1.1
Authorised Capital
75,00,00,000 Equity shares
of `10/- each
75000.00
60000.00
1.2
Issued, Subscribed and
Paid up Equity Share Capital
50,85,65,434 Equity Shares
of `10/- each)
52.3017 50,856.54
50,856.54
50,856.54
50,856.54
TOTAL
50,856.54
50,856.54
1.3
Company is having one Share each in the name of 6 Directors and remaining
shares are held in the name of his Excellency Governor of Karnataka.
1.4 The reconciliation of the No. of Equity shares outstanding is set out below:
Particulars As at 31.3.2017 As at 31.3.2016
No. of Equity Shares at the beginning of the year 508565434 325515034
Add: No. of Equity shares issued during the year 0 183050400
Less: No of Equity Shares cancelled on buy
back during the year 0 0
No of Equity Shares at the end of the Year 508565434 508565434
Based on order of GOK dated 10.09.2015, Capital grants of ` 66,36,04,000/- Received from
GOK since 2011-12 have been converted into equity during the year 2015-16.
1.5 Details of Authorised Share Capital (` in Lakhs)
Sl.
No. Year
Authorised
Share Capital Reference
1 2005-06 500.00
Memorandum of Association
1st BM held on 26th March, 2005 at 3.00 PM at the Board
Room, KPTCL, 1st Floor Kaveri Bhavan, Bangalore
2 2006-07 1,500.00
Extraordinary General Meeting of the Shareholders of the
Company held on 13th May 2005 at 4.30 P.M. at Board
Room Kaveri Bhavan, Bangalore
3 2007-08 15,000.00
15th BM held on 17th Septemeber,2007 at 5.00 PM at
the Board Room, KPTCL, Kaveri Bhavan, Bangalore
2nd AGM held on 11th October 2007 at 1.15 PM at the
Registered Office of the Company, Mysore
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
96
1.5 Details of Authorised Share Capital (` in Lakhs)
Sl.
No. Year
Authorised
Share Capital Reference
4 2008-09 15,000.00 _
5 2009-10 15,000.00 _
6 2010-11 25,000.00
28th BM held on 31st March,2010 at DSM Conference
Hall, BESCOM, KR Circle, Bangalore
Extraordinary General Meeting of the Shareholders of the
Company held on 9th August 2010 at 11.30 A.M. at Room
No.222, II Floor, Vikasa Soudha, Bangalore
7 2011-12 25,000.00 -
8 2012-13 30,000.00 35th BM held on 17th November,2011 at 11.00 A.M. at
Room No. 222, Vikasa Soudha, Bangalore
9 2013-14 45,000.00 8th AGM on 16th December,2013 at 4.30 P.M at
Registered Office, CESC, Mysore
10 2015-16 60,000.00
Extraordinary General Meeting of the Shareholders of the
Company held on Wednesday the 30th March 2016 at
11.15 A.M. at the Room No. 222, Vikasa Soudha,
Bangalore
11 2016-17 75,000.00
Extraordinary General Meeting of the Shareholders of the
Company held on Tuesday the 17th January 2017 at 6.00
P.M. at Conference Hall, KPTCL. Kaveri Bhavan,
Bengaluru-560009.
Terms and rights attached to equity shares
The company has only one class of equity shares having a par value of `10 per share.
Each holder of equity shares is entitled to one vote per share. In the event of liquidation of
the company, the holders of equity shares will be entitled to receive the assets of the
company, in proportion to the number of equity shares held by the shareholders.
1.6 Details of Share Holding of More than 5% (` in Lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
Number of
Shares
Percen
tage
Number of
Shares
Percen
tage
1 Hon’ble Governor,
State of Karnataka 508565428 99.99 508565428 99.99
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
97
NOTE: 02 RESERVES AND SURPLUS (` in Lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
2.1
Capital Reserve: 56.2 239.17 239.17 239.17 239.17
As per Last Balance
Sheet
Add: Additions during
the year
Less: Utilised during
the year
2.2
Others
Proposed adjustment to
networth Account 52.3047 (3,401.01) (3,401.00) 0.00 -
2.3
Profit and Loss
Account (Surplus)
As per Last Balance
Sheet 58.2007 (63,426.58)
(64,218.86)
Add: Additions during
the year P &L A/c 2,144.37
792.28
(61,282.21)
(63,426.58)
2.4
Contribution,grants
and subsidies towards
cost of Capital assets
2.4.1
Consumers
Contributions towards
cost of Capital assets
55.1007
to
55.1167
68,222.20
55,536.13
2.4.2 REC-RGGVY Scheme
subsidy A/C 55.2037 16,447.16
16,559.81
2.4.3 Grant towards cost of
capital assets - IPDS 55.3037 1,028.00
2.4.4
Grant towards cost of
capital assets -
DDUGJY
55.3047 1,673.05
2.4.5 Special Grant Towards
Capital works (GOK)
55.3007+
55.5007+
55.3017+
6,109.69
5,699.55
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
98
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
55.2007+
55.3027
Total Grants,
Contribution & Subsidy 93,480.09
77,795.49
2.4.6 Less Reversal of
Depreciation 55.9607 22,640.56 70,839.54 18,118.88 59,676.60
TOTAL
6,395.50
(3,510.81)
Pursuant to GOK order No EN 67 PSR 2017 Banagalore Dated 31.07.2017, for
transfer of outstanding power purchase cost of ` 888.89 crores, interest of ` 467.52 crores
relating to M/s. KPCL in the books of M/s. KPTCL along with subsidy of ` 986.50 crores
receivable from Government by M/s. KPTCL for the period prior to 9th June 2005 to
ESCOMs, 9.1933% of the total share of all ESCOMs was allocated to CESC towards
subsidy dues of KPTCL and Power Purchase dues including interest of KPCL. Vide the
above Order, the Company has accounted ` 90.69 Crores subsidy to be received as
Receivable from GoK, ` 81.72 Crs as Power Purchase dues of M/s. KPCL and ` 42.98 Crs
as interest on Power Purchase dues payable to M/s. KPCL during the financial year 2016-
17. Further, the Order has also directed write back the interest to account the difference in
receivables and payables resulting from the above transaction under ‘Proposed Adjustment
to Net Worth Account’, which have also been complied.
NOTE: 03 SHARE DEPOSIT(SHARES PENDING ALLOTMENT) (` in Lakhs)
Sl.No Particulars Account
Code As At 31.3.2017 As At 31.3. 2016
3.1 Share Deposit from
GOK Pending Allotment 52.3037 15,229.00
1400.00
TOTAL
15,229.00
1,400.00
3.2
Share Deposit Pending allotment
GoK in its order no: EN58 PSR 2013 Bangalore dated 23.09.2013 has accorded
approval for Equitable Distribution of ` 70.00 Crs paid towards 50% of the cost of
power block of Jurala Hydro Electric Project among Electricity Supply Companies.
The amount was paid by PCKL to Andra Pradesh Power Generation Corporation
Ltd on behalf of ESCOMs. The share of CESC amounting to ` 14.00 Crs is
accounted as Share deposit received from GoK.
Pending allotment of shares by the company the following amounts received from
GoK towards equity are held under share deposit (Share pending allotment)
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
99
Equtiy received details
3.3 EN 27 PSR 2016 Bangalore, Dated, 31.05.2016 `30.00 Crs
3.4 EN 10 PSR 2016 Bangalore, Dated, 27.06.2016 `2.70 Crs
3.5 EN 27 PSR 2016 Bangalore, Dated, 31.08.2016 `20.00 Crs
3.6 EN 23 PSR 2016 Bangalore, Dated, 01.09.2016 `16.25 Crs
3.7 EN 10 PSR 2016 Bangalore, Dated, 17.09.2016 `2.70 Crs
3.8 EN 27 PSR 2016 Bangalore, Dated, 07.12.2016 `20.00 Crs
3.9 EN 10 PSR 2016 Bangalore, Dated, 24.12.2016 `2.70 Crs
4.0 EN 23 PSR 2016 Bangalore, Dated, 24.12.2016 `8.13 Crs
4.1 EN 10 PSR 2016 Bangalore, Dated, 31.01.2017 `2.70 Crs
4.2 EN 23 PSR 2016 Bangalore, Dated, 03.02.2017 `8.11 Crs
4.3 EN 27 PSR 2016 Bangalore, Dated, 09.02.2017 `25.00 Crs
NON CURRENT LIABILITIES:
NOTE: 04 LONG TERM BORROWINGS (` in Lakhs)
Sl.No Particulars Account
Code As At 31.3.2017 As At 31.3. 2016
4.1 TERM LOANS
4.1.1 SECURED LOANS
4.1.1.1 From Commercial Banks 53.5077 4717.82
7067.79
4.1.1.2 From Syndicate Bank CAPEX 53.5037 6250.00
7916.67
4.1.1.3 From Syndicate Bank CAPEX 53.5007 11395.79
5060.00
4.1.1.4 From SBM Bank Short Term
Loan PP Dues 53.5047
5265.98 4996.00
4.1.1.5 From Syndicate Bank Short
Term Loan 53.5067
0.00 5550.92
4.1.1.6 From PFC R-APDRP
Part A and Part B GOI Loan 53.9617
4357.37 4357.37
4.1.1.7 From PFC R-APDRP
Part B Counter part 53.5097 4085.41
4120.87
4.1.1.8 From REC NJY Phase 1&2
project 53.5107 41796.17
36606.37
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
100
4.1.1.9 From REC CAPEX FY 13-14 53.3007 4199.30
4199.30
4.1.1.10 From REC Medium Term Loan 53.5057 0.00
3055.56
4.1.1.11 From REC (Medium Term) 53.5117 13333.33
0.00
4.1.1.12 From Bank of India (Capex) 53.5127 0.00
0.00
4.1.1.13 From Syndicate Bank - UNIP
(Long Term) 53.5137 3000.00
0.00
Sub-Total
98401.17 82930.84
4.1.2 UN-SECURED LOANS
4.1.2.1 From Banks
4.1.2.2 From GOK Energisation of IP 53.9777 -
0.00
4.1.2.3 From GOK APDRP loan 53.3047 1072.64
1287.27
4.1.2.4 From REC APDRP 53.3057 140.26
140.26
4.1.2.5 From REC RGGVY 53.9677 789.97
971.87
Sub-Total
2002.86
2399.40
TOTAL
100404.03 85330.24
4.2
At the time of unbundling of transmission and distribution activities and
formation of Electricity Distribution Companies, the Government of Karnataka
has transferred certain loans taken by M/s KPTCL to the Company as part of
transfer of assets and liabilities. The interest Payment as intimated by KPTCL
has been charged off in the books of accounts since the assets have been
commissioned.
4.3 The loan balances between KPTCL and Company is subject to reconciliation
and Confirmation
4.4
4.5
4.6
The details of the loan with the terms and conditions that are transferred to
CESC from KPTCL, are yet to be received, except the loans directly borrowed
by the Corporation.
The repayments towards principal and interest as noted above routed through
KPTCL, the interest on such loans are also accounted based on intimation by
KPTCL
PFC R-APDRP Part A & B GOI loans are eligible for conversion into grants
under the terms of sanction our achievement of stipulated target. The period for
achievement of target is not over.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
101
4.7 Reconciliation of loan Balances (` in Lakhs)
Sl.
No.
Name of the Bank/
Financial Institution
A/c
Code
Charge
Creation ID
& Date
Tenure
of
Loan
No. of
installments
Repayment
Terms
Rate of
Interest as on
31.3.2017 (In
%)
Opening
Balance as
on
01.04.2016
Loans
Drawn
During
2016-17
Total
Loans
2016-17
Repayment
of Loan
during
2016-17
Loan
Balance as
on 31.3.2017
I Term Loan Secured
A Loans from -Commercial Banks
1
Synd Bank-Capex
(Secured by
Hypothecation against
Created Assets)
53.5007 10615318 /
29.12.2015 2+5
60 Monthly
installments
Monthly
Repayment &
Last installment
due on 12/2022
10.60 5060.00 6835.79 11895.79 0.00 11895.79
2
SBM- PP dues.
(Secured by Receivables
against CESC Revenue)
53.5047 100026108 /
31.03.2016 3
36 Monthly
installments
Monthly
Repayment &
Last installment
due on 03/2019
10.90 2900.00 7100.00 10000.00 3058.00 6942.00
3
SBM- PP dues.
(Secured by Receivables
against CESC Revenue)
53.5047 10593179 /
21.09.2015 3
36 Monthly
installments
Monthly
Repayment &
Last installment
due on 09/2018
11.30 8332.00 0.00 8332.00 3336.02 4995.98
4
SBM-UNIP
(Secured by Created
Assets)
53.5077 10332143 /
16.01.2012 3+6
72 Monthly
installments
Monthly
Repayment &
Last installment
due on 01/2021
12.65 8053.84 0.00 8053.84 1668.02 6385.82
5 SBM-Capex programme.
(Secured by 53.5077 10242976 / 2+5 60 Monthly
Monthly
Repayment & 11.65 2085.95 0.00 2085.95 1404.00 681.95
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
102
4.7 Reconciliation of loan Balances (` in Lakhs)
Sl.
No.
Name of the Bank/
Financial Institution
A/c
Code
Charge
Creation ID
& Date
Tenure
of
Loan
No. of
installments
Repayment
Terms
Rate of
Interest as on
31.3.2017 (In
%)
Opening
Balance as
on
01.04.2016
Loans
Drawn
During
2016-17
Total
Loans
2016-17
Repayment
of Loan
during
2016-17
Loan
Balance as
on 31.3.2017
Hypothetication against
Created Assets)
13.09.2010 installments Last installment
due on 09/2017
6
Canara Bank-Capex
(Secured by
Hypothetication against
Created Assets)
53.5077 10171461 /
29.06.2011 7
Quarterly (May, Aug, Nov and
Feb of Every year) & Last
installments due on 06/2018
11.9 694.26 0.00 694.26 694.26 0.00
7
Synd Bank-PP dues.
(Secured by Receivables
by Chamundipuram Sub-
division Revenue)
53.5077 10496189 /
29.03.2014 3
36 Monthly
installments
Monthly
Repayment &
Last installment
due on 03/2017
11.35 7017.86 0.00 7017.86 7017.86 0.00
8
Synd Bank-Capex
(Secured by
Hypothetication against
Created Assets)
53.5037 10545237 /
31.12.2014 1+6
72 Monthly
installments
Monthly
Repayment &
Last installment
due on 12/2021
11.35 9583.33 0.00 9583.33 1666.67 7916.67
9
Synd Bank-PP dues
(Secured against Tariff
Subsidy Released by
GOK)
53.5067 10564836 /
31.03.2015 3
35 Monthly
installments
Monthly
Repayment &
Last installment
due on 03/2018
11.35 11101.84 0.00 11101.84 6013.50 5088.34
10
SBM-Over Draft.
(Secured by Receivables
from State Bank of
50.2107
Modified
10445357 /
23.05.2015
Overdraft Account 11.35 4157.85 15688.52 19846.37 0.00 19846.37
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
103
4.7 Reconciliation of loan Balances (` in Lakhs)
Sl.
No.
Name of the Bank/
Financial Institution
A/c
Code
Charge
Creation ID
& Date
Tenure
of
Loan
No. of
installments
Repayment
Terms
Rate of
Interest as on
31.3.2017 (In
%)
Opening
Balance as
on
01.04.2016
Loans
Drawn
During
2016-17
Total
Loans
2016-17
Repayment
of Loan
during
2016-17
Loan
Balance as
on 31.3.2017
Mysore)
11
Syndicate Bank Term
Loan - For
Regularisation of UNIP
53.5137
2+5 60 Monthly
installments
Monthly
Repayment &
Last installment
due on 03/2024
9.75 0.00 3000.00 3000.00 0.00 3000.00
12 Bank of India Term
Loan - CAPEX 53.5127
3+7
84 Monthly
installments
Monthly
Repayment & Last
installment due on
03/2027 & 3 Year
Moratorium
9.75 0.00 2000.00 2000.00 0.00 2000.00
B Loans from Other Financial Institutions
1
GoI-Though M/s PFC-
R-APDRP Part-A
(Secured by
Hypothecation against
Created Assets)
53.9617 10265935/
20.12.2010 10
10 Annual
Installments
Annually
(Between June &
March) & Loan
Closed on
12/2020
9.00 1663.97 0.00 1663.97 0.00 1663.97
2
GoI-Though M/s PFC-
R-APDRP Part-B
(Secured by
Hypothecation against
53.9617 10265936/
20.12.2010 20
10 Annual
Installments
Monthly
Repayment Bases
(From June to
March of Every
9.00 2693.40 0.00 2693.40 0.00 2693.40
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
104
4.7 Reconciliation of loan Balances (` in Lakhs)
Sl.
No.
Name of the Bank/
Financial Institution
A/c
Code
Charge
Creation ID
& Date
Tenure
of
Loan
No. of
installments
Repayment
Terms
Rate of
Interest as on
31.3.2017 (In
%)
Opening
Balance as
on
01.04.2016
Loans
Drawn
During
2016-17
Total
Loans
2016-17
Repayment
of Loan
during
2016-17
Loan
Balance as
on 31.3.2017
Created Assets) Year) & Loan
Closed on 12/2030
3
M/s PFC-R-APDRP
Part-B Counter Part
Loan ( Secured by
Created Assets+10% of
Existing Assets of
Hunsur Division
53.5097 10406889/
4.2.2013 5+10
10 Annual
Installments
Principal and
Interest Quarterly
& Last Installment
due on 02/2028
12.00 &
10.75 4479.20 369.00 4848.20 373.71 4474.49
4
M/s REC- NJY Phase-1
Project. (Secured by
Hypothecation against
Created Assets)
53.5107 10401139/
5.1.2013 3+10
10 Annual
Installments
Principal Annually
Interest Quarterly
& Last Installment
due on 01/2026
11.50 &
12.25 &
11.00
6232.46 613.70 6846.16 684.62 6161.54
5
M/s REC- NJY Phase-2
Project. (Secured by
Created Assets)
53.5107
10445166/
2.8.2013,
10467307/
2.12.2013,
10490841/
17.3.2014,
10554852/
17.2.2015
3+10 10 Annual
Installments
Principal Annually
Interest Quarterly
& Last Installment
due on 02/2028
11.50 &
12.00 &
12.25
30997.16 9357.55 40354.72 0.00 40354.72
6 M/s REC- Capex 53.3007 10518409/ 2+5 10 Annual Principal Annually 12.00 &12.25 4199.30
4199.30 0.00 4199.30
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
105
4.7 Reconciliation of loan Balances (` in Lakhs)
Sl.
No.
Name of the Bank/
Financial Institution
A/c
Code
Charge
Creation ID
& Date
Tenure
of
Loan
No. of
installments
Repayment
Terms
Rate of
Interest as on
31.3.2017 (In
%)
Opening
Balance as
on
01.04.2016
Loans
Drawn
During
2016-17
Total
Loans
2016-17
Repayment
of Loan
during
2016-17
Loan
Balance as
on 31.3.2017
Programme. (Secured by
Created Assets)
11.8.2014 Installments Interest Quarterly
& Last Installment
due on 08/2021
7
M/s REC- Assets
Hypothicated of Hunsur
Division to the extent of
Loan
53.5057 10554858/
16.2.2015 3
36 Monthly
installments
Monthly
Repayment Bases
& Last installment
due on 02/2018
12.75 6388.89
6388.89 3333.33 3055.56
8 M/s REC - Short Term
Loan for PP Dues (New) 53.3017
1
12 Monthly
installments
Monthly
Repayment Bases
& Last installment
due on 08/2017
12.00 0.00 10000.00 10000.00 5833.33 4166.67
9
M/s REC - Medium Term
Loan for PP Dues (New)
21.03.2017
53.5117
3 36 Monthly
installments
Monthly
Repayment Bases
& Loan Closed on
03/2020
12.00 0.00 10000.00 10000.00 0.00 10000.00
10
M/s REC - Medium Term
Loan for PP Dues (new)
31.03.2017
53.5117
3 36 Monthly
installments
Monthly
Repayment Bases
& Last installment
due on 03/2020
12.00 0.00 10000.00 10000.00 0.00 10000.00
Total Secured Loan
115641.32 74964.56 190605.87 35083.32 155522.55
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
106
4.7 Reconciliation of loan Balances (` in Lakhs)
Sl.
No.
Name of the Bank/
Financial Institution
A/c
Code
Charge
Creation ID
& Date
Tenure
of
Loan
No. of
installments
Repayment
Terms
Rate of
Interest as on
31.3.2017 (In
%)
Opening
Balance as
on
01.04.2016
Loans
Drawn
During
2016-17
Total
Loans
2016-17
Repayment
of Loan
during
2016-17
Loan
Balance as
on 31.3.2017
II Un-Secured Loan
1 GoK-Transferred from
KPTCL 53.9777 10
Annually
Repayment
(April)
Annually (April) 11.00 23.30
23.30 23.30 0.00
2 GoK- APDRP 53.3047 20
Annually
Repayment
(March)
Annually (March)
& Loan Closed 11.50 1501.80
1501.80 214.63 1287.17
3 M/s REC- APDRP-
Works 53.3057 10 Quarterly
Principal and
Interest Quarterly 8.5 - 10 1003.57
1003.57 863.31 140.26
4 M/s REC- RGGVY
Projects 53.9677 15
10 Annual
Installments
Principal Annually
Interest Quarterly
10.75, 11.50
& 11.25 1153.77
1153.77 181.90 971.87
Total Un-Secured Loan
3682.44 0.00 3682.44 1283.14 2399.30
Total - Secured & Un-Secured Loan
119323.76 74964.56 194288.31 36366.46 157921.85
Term Loan due for repayment in next year
(Shown as current Liabilities in Note:10)
29835.67
33504.78
Short Term Loan due for repayment in next
year (Shown as current Liabilities in Note:8)
4157.85
24013.03
Net Long Term Loan (Note-4)
85330.24
100404.03
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
107
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
108
NOTE: 05 DEFERRED TAX LIABILITIES (NET) (`in Lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
5.1 Deferred Tax Liability /
Assets (Net) 46.8027 9074.61
7169.05
TOTAL
9074.61
7169.05
5.2 Considering the future earning capacity and other relevant considerations and as a
matter of prudence DTA on carry forward of losses is not considered.
NOTE: 06 OTHER LONG TERM LIABILITIES (` in Lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
6.1 Others
6.1.1 Security Deposits from
Consumers
6.1.2 Meter Security Deposits 47.6017 to
47.6047 2632.63
2608.73
6.1.3 Initial/Additional Security
Deposits
48.1017 to
48.1037 49482.88
44338.91
Sub-Total
52115.50
46947.64
6.2 KPCL, KPTCL & Other
ESCOMs
6.2.1 KPTCL/VVNL 42.2147+
42.2247+
42.2297+
42.2197+
42.2037+
42.2127
1502.78
1505.28
6.2.2 BESCOM 42.2157+
42.2257+
42.2207
63.71
63.76
6.2.3 MESCOM 42.7657+
42.8787+
42.2167
28.73
28.73
Sub-Total
1595.22
1597.77
6.3 Staff related Liabilities
6.3.1 Security Deposit from
employees
46.9207 1.00
1.17
6.3.2 Provision for Earned
leave encashment
44.1307 0.76
0.76
Sub-Total
1.76
1.93
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
109
NOTE: 06 OTHER LONG TERM LIABILITIES (` in Lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
6.4 Liability to Suppliers
and Contractors
6.4.1 Security Deposits from
Suppliers/ Contractors
46.1017,
46.1027 1941.73
1299.59
6.4.2 Retention Money 46.1047 5848.48
5632.97
6.4.3 Penalty recovered from
supplier / contractor
46.1097 0.00
0.00
Sub-Total
7790.21
6932.56
6.5 Payables to GOK
6.6 BRP-11 recoveries 46.2067 298.03
298.03
Sub-Total
298.03
298.03
6.7 Others
6.7.1 Miscellaneous deposits 46.9667 37.22
83.21
Sub-Total
37.22
83.21
TOTAL
61837.94
55861.14
6.8 The balance of consumers security deposit held as per accounts and consumers
ledger accounts are subject to reconciliation.
6.9 Transaction with KPTCL / ESCOMs are accounted as payables are subject to
confirmation and reconciliation.
NOTE: 07 LONG TERM PROVISIONS (` In lakhs)
Sl. No. Particulars Account Code As At 31.3.2017 As At 31.3.2016
7.1 Provision
7.1.1 Provision For IT / FBT 46.8017,
46.8007 -
-
TOTAL
0.00
0.00
CURRENT LIABILITIES
NOTE: 08 SHORT TERM BORROWINGS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
8.1 Bank Overdraft
8.1.1 Secured by Receivables
8.1.2 State Bank of Mysore-OD 50.2107 19846.37
4157.85
8.1.3 From REC-Shortterm loan
` 100 Crs 53.3017 4166.67
TOTAL
24013.03
4157.85
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
110
NOTE: 09 TRADE PAYABLES (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
9.1 Liability For Purchase
Of Power
9.1.1 M/s KPCL 41.1087 114859.09
97179.93
9.1.2 M/s NTPC – RSTPS STG
I & II 41.1107 2602.32
756.71
9.1.3 M/s NTPC – RSTPS –
STG III 41.1117 524.70
236.18
9.1.4 M/s NTPC Talcher STG II 41.1127 1726.25
537.64
9.1.5 M/s MAPS 41.1137 103.76
-
9.1.6 M/s NLC - TPS I EXPN 41.1147 769.10
246.83
9.1.7 M/s NLC - TS II 41.1157 2333.10
610.93
9.1.8 M/s PGCIL -UI Pool
Account 41.1167 1537.05
1590.10
9.1.9 M/s Kaiga 41.1177 1818.04
4.05
9.1.10 M/s GMR ENERGY Ltd. 41.1187 -
-
9.1.11 M/s JSW PTCL 41.1217 3653.09
212.68
9.1.12 M/s Coromandel Sugars
Ltd 41.1237 13.09
136.71
9.1.13 M/s Hemavathi Power &
Light PVT. Ltd - II (HRB) 41.1337 2.52
-
9.1.14 M/s Sri Chamundeshwari
Sugars Ltd 41.1377 12.90
-
9.1.15 M/s KPTCL Transmission
Charges 41.1397 5549.67
3060.77
9.1.16 M/s PGCIL Transmission
Charges 41.1407 2961.73
1221.57
9.1.17 M/s SLDC - O & M
Expenses 41.1427 692.56
672.78
9.1.18 M/s SPPCC - O & M
Expenses 41.1437 51.25
-
9.1.19 M/s TBHE 41.1457 33.87
-
9.1.20 Energy Balance A/C -
BESCOM 41.1467 14356.95
4108.65
9.1.21 Energy Balance A/C -
MESCOM 41.1477 2256.88
2575.17
9.1.22 M/s PTC India Ltd 41.1607 2585.03
289.71
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
111
NOTE: 09 TRADE PAYABLES (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
9.1.23 M/s Lanco Utility Ltd
(Open Access) 41.1617 289.29
289.29
9.1.24 M/s Sapthagiri Distilleries
Pvt Ltd 41.1717 18.02
-
9.1.25 M/s The Chennai Silks 41.1757 -
13.94
9.1.26 M/s Happy Valley
Developers 41.1797 4.00
1.69
9.1.27 M/s Rathnagiri Impex Pvt
Ltd 41.1817 3.94
-
9.1.28 M/s Atria Brindavan
Power Ltd-2 MHS 41.1977 0.80
-
9.1.29 Provision for liability for
purchase of power 41.2007 103113.01
100906.40
9.1.30 M/s NTPC VVNL (IPP) 41.4017 148.69
-
9.1.31 M/s Friends Salt Works &
Allied Industries GP-16 41.4107 0.82
-
9.1.32 M/s Durga Agencies, GP-
19 41.4147 5.68
18.64
9.1.33 M/s UPCL 41.4187 6323.13
1901.66
9.1.34 M/s NTPC Simhadri
Thermal Power Station 41.4257 1170.47
471.35
9.1.35 M/s TATA power trading
company ltd (M/s TPTCL) 41.4267 5.40
1154.94
9.1.36 M/s Non PPA power
Generators 41.4307 71.80
39.21
9.1.37 M/s BMM ISPAT ltd., 41.4357 200.00
829.81
9.1.38 M/s NSL Sugars
(Tungabhadra) Ltd., 41.4387 40.33
89.63
9.1.39 M/s Vijayanagara Sugars 41.4407 8.00
-
9.1.40
M/s NTPC Tamilnadu
Energy Company Ltd
(Vallur TPS)
41.4417 1562.98
-
9.1.41 M/s Sathish Sugars Ltd., 41.4477 -
111.34
9.1.42 M/s Sai Nireeha Power
Project Pvt Ltd. 41.4497 6.83
0.39
12th
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112
NOTE: 09 TRADE PAYABLES (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
9.1.43 M/s Kudankulam Nuclear
Power Project 41.4517 653.20
64.81
9.1.44 M/s NTPC-VVNL (Solar) 41.4527 557.21
-
9.1.45 M/s Priyadarshni Jurala
Hydro Electric Scheme) 41.4537 108.61
513.64
9.1.46 M/s Athani Sugars Ltd 41.4547 -
135.85
9.1.47 M/s Nirani Sugars Ltd 41.4557 48.80
126.56
9.1.48 M/s NLC - TPS II Exp 41.4577 625.74
24.93
9.1.49 M/s NLC Tamilnadu
Power Ltd 41.4587 1813.59
-
9.1.50
M/s Madhav Solar
(Karnataka) Pvt. Ltd
(Project-1)
41.4607 59.94
58.81
9.1.51
M/s Madhav Solar
(Karnataka) Pvt. Ltd
(Project-2)
41.4617 62.34
61.01
9.1.52 M/s Mittal Prosessors Pvt
Ltd 41.4627 102.58
351.68
9.1.53 M/s Balkeshwara Sugars
Ltd 41.4637 8.66
43.23
9.1.54 Purchase of power from
IPPs under section 11 41.4647 1747.63
5790.30
9.1.55 M/s Damodar Valley
Corporation 41.4657 3424.67
-
9.1.56 M/s Emami Power Limited
(Solar) 41.4667 126.45
-
9.1.57 M/s Chikku Energy Private
ltd (Solar) 41.4677 45.06
-
9.1.58 M/s CBM Enterprises
(Solar) 41.4687 45.21
-
9.1.59
M/s Maharastra State
Electricity Distribution
Company Ltd
41.4697 1238.91
-
9.1.60 M/s Core Green Sugar &
Fuels Pvt Ltd 41.4707 14.67
-
9.1.61 M/s E.I.D Parry (India) Ltd 41.4717 38.62
-
12th
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113
NOTE: 09 TRADE PAYABLES (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
9.1.62 M/s GEM Sugar Ltd 41.4737 43.32
-
9.1.63 M/s Godavari Bio
Refineries Ltd 41.4747 99.96
-
9.1.64 M/s Jamkhandi Sugars
Ltd 41.4757 59.87
-
9.1.65 M/s KPR Sugar Mills Pvt
Ltd 41.4767 34.90
-
9.1.66 M/s Manali Sugars 41.4777 1.52
-
9.1.67 M/s Shiraguppi Sugar
Works Ltd 41.4787 7.31
-
9.1.68 M/s Sri Prabhulineshwar
Sugars & Chemicals 41.4797 38.42
-
9.1.69 M/s Shivashakthi Sugars
Ltd 41.4807 38.05
-
9.1.70 M/s Shree Renuka Sugars
Ltd 41.4817 19.12
-
9.1.71 M/s Soubhagyalakxmi
Sugars Ltd 41.4827 3.91
-
9.1.72 M/s Saketh Solar Energy
LLp Ltd (Solar) 41.4837 38.16
-
9.1.73 M/s Gorich Energy Pvt Ltd
(Solar) 41.4847 15.11
-
9.1.74 M/s A.V. Anjaneya Prasad
(Solar) 41.4857 9.21
-
9.1.75 M/s SLDC, KPTCL
(Congestion Charges) 41.4937 2.62
-
9.1.76
Liability for Purchase of
Power from Solar Roof
Top
41.5007 3.99
0.96
9.1.77 Payable to BESCOM -
Power Purchase 42.2907 4240.04
5106.29
9.1.78 Payable to MESCOM-
Power Purchase 42.2917 7.00
7.00
TOTAL
286800.53 231553.78
9.2 Balances in respect of Trade Payables are subjected to confirmation
9.3 Dues to MSME :- Nil
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
114
NOTE 10: OTHER CURRENT LIABILITIES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
10.1 Current Maturities of
Long Term Debts
10.1.1
Term Loan Installment
due for repayment within
One year
10.1.1.1
Loans installment due to
Commercial Banks 53.5077 2349.95
3766.26
10.1.1.2 Loans installment due GOK
Loan Energisation of IP 53.9777 -
23.30
10.1.1.3 From REC - Shorterm loan
`100 Crs 53.3017 -
-
10.1.1.4 Loans installment due to
GOK APDRP 53.3047 214.53
214.53
10.1.1.5 Loans installment due to
REC APDRP 53.3057 0.00
863.31
10.1.1.6 Loan installment due to
REC RGGVY 53.9677 181.90
181.90
10.1.1.7 Loan from Syndicate Bank 53.5007 500.00
0.00
10.1.1.8
Loan installment due to
PFC (APDRP) Part B
Counter Part Loan
53.5097 389.09
358.34
10.1.1.9
Loan installement due to
PFC (APDRP) Part B
Counter part loan
53.9617 0.00
0.00
10.1.1.10 Loan Installement due to
REC NJY Loan 53.5107 4720.09
623.25
10.1.1.11
Loan Installement due to
Syndicate Bank for CAPEX
FY 14-15
53.5037 1666.67
1666.67
10.1.1.12 From SBM Bank Short
Term Loan - PP Dues 53.5047 3336.00
2900.00
10.1.1.13 From SBM Bank Short
Term Loan - PP Dues 53.5047 3336.00
3336.00
10.1.1.14 REC (M.T.L) 53.5057 3055.56
3333.33
10.1.1.15 State Bank of Mysore
(S.T.L) 53.5067 5088.34
5550.92
10.1.1.16 Syndicate Bank (S.T.L) 53.5077 0.00
7017.86
10.1.1.17 From REC (Short Term) 53.5117 6666.67
0.00
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
115
NOTE 10: OTHER CURRENT LIABILITIES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
10.1.1.18 From Bank of India
(Capex) 53.5127 2000.00
0.00
Sub-Total
33504.78
29835.67
10.2 Interest Accrued but not
due on Borrowings
10.2.1
Interest Accrued but not
due on Borrowings 46.7107 2802.49 2802.49 2776.03 2776.03
10.3 Other Payables
10.3.1 Liability for supply of
Materials 42.1017 2269.07
2863.64
10.3.2 Sundry creditors/Control
Account 42.2017 1374.77
1268.43
10.3.3 Liability for supply of
materials 42.3017 -
-
10.3.4 Contractors Control
Account
42.4017
42.7017 7837.72
6993.16
10.3.5 Liability to Contractors 42.5017 591.97
624.73
Sub-Total
12073.54
11749.95
10.4 Statutory Dues
10.4.1
Income tax deducted at
source on payment to
Contractors
46.9247 104.99
152.17
10.4.2
Sales tax deducted at
source and payable to
department
46.9277 22.70
186.63
10.4.3 Sales tax payable 46.9267+
46.9517 2.15
(1.24)
10.4.4 Service Tax 46.9217 12.47
70.47
10.4.5 Amount recoverable from
Salaries of Corpn. Emp 46.9287 0.60
6.47
10.4.6
Swachh Bharath Cess
0.5% on value of services&
Krishi Kalyan CESS 0.5%
on value of services
46.9297 1.13
2.45
10.4.7
Amount Deducted from
Contractors PF ESI and
cess
46.9307+
46.9317+
46.9327
1.18
3.96
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
116
NOTE 10: OTHER CURRENT LIABILITIES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
10.4.8
Building or other
construction workers
welfare fund
46.9427+
46.6427 1.88
8.19
10.4.9 Duty & Taxes Payable to
GoK., 46.4707 0.38
0.68
Sub-Total
147.47
429.77
10.5 Employee related
liabilities
10.5.1 Liability towards Pension &
Gratuity Trust
44.1107+
44.1207+
44.1227
2255.80
2262.58
10.5.2 Liability towards FBF
44.1417+
44.1427+
44.1437
708.66
675.72
10.5.3
Liability towards
contribution to Newly
defined Contributory
Pension scheme
44.1507 6.60
1.32
10.5.4
Pension and Leave
contribution from employees
for counting their past
service in other dept., &
payable to P & G Trust
44.2757 0.03
0.03
10.5.5 Unpaid Salaries 44.2107 0.03
0.18
10.5.6 Unpaid Bonus 44.2207 0.10
0.06
10.5.7 Salary Payable 44.3107 346.56
26.19
10.5.8 Bonus Payable 44.3207 62.04
57.04
10.5.9 Ex-gratia Payable 44.3307 331.34
492.64
10.5.10 Sundry expenses 46.4107 100.28
93.10
10.5.11 For T.A to Contract
employees 46.4117 1.00
0.50
Sub-Total
3812.43
3609.35
10.6 Payables to GOK
10.6.1 Electricity Tax(yet to be
collected from consumers) 46.3007 4486.62
3933.89
10.6.2 Compounding Fee 46.3017 0.61
3.28
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NOTE 10: OTHER CURRENT LIABILITIES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
10.6.3 Inspection Charges
payable to Govt. 46.4407 0.12
0.11
10.6.4 Royalty payable to Govt. 46.4507 0.66
1.12
Sub-Total
4488.01
3938.40
10.7 Payables to Consumers
10.7.1 Interest on ISD/ASD 48.3407 3627.73
3482.06
10.7.2 Interest on MSD 48.3507 183.29
325.64
Sub-Total
3811.02
3807.71
10.8 Others
10.8.1 Security Deposits in cash
from Suppliers/ Contractors
46.1017+
46.1027 655.84
264.37
10.8.2 Retention Money 46.1047 4787.40
2853.60
10.8.3 Penalty recovered, pending
decision for refund 46.1097 231.66
97.43
10.8.4 Liability for expenses 46.4307 2175.98
2684.32
10.8.5 Stale Cheques 46.9107 12.77
14.56
10.8.6 Advance received for sale
of store scrap etc., 46.9227 99.96
4.02
10.8.7 CFL Lamps issued under
BELAKU YOJANE 47.5007 276.83
234.68
10.8.8 Contributory Pension
scheme
46.9537
46.9527 201.56
113.14
10.8.9
Amount recoverable from
employee payable to
Employee Welfare Fund
46.9547 65.68
64.82
10.8.10
Employees PF and
Departmental Share of PF
Payable Account
46.9577 1.77
1.75
10.8.11
Excess Credit afforded by
Bank pending
reconciliation-SBM
46.9717 82.99
11.53
10.8.12
Excess Credit afforded by
Bank pending
reconciliation-Canara Bank
46.9747 6.06
0.15
10.8.13 Flood Relief fund 47.9787 0.01
0.01
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118
NOTE 10: OTHER CURRENT LIABILITIES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
10.8.14 Electrification/ Service
Connection
47.3017
to
47.3047
457.50
432.22
10.8.15
Amount payable to other
departments against DCW
works
47.3
series 4783.54
3994.84
10.8.16 Revenue Suspense 47.6077 692.63
564.82
10.8.17 Revenue collection
pending classification 47.6097 143.87
0.00
10.8.18 Stock Excess pending
investigation 22.8207 3.40
3.40
10.8.19 Receivable others - Belaku
Yojane 28.8847 17.76
25.61
10.8.20
Advance Paid to SPPCC
towards UI Charges
(Unscheduled interchange
charges)
28.9457 -
-
10.8.21 Sundry debtors for other
Misc income 28.1057 130.99
1154.00
10.8.22 Amount recoverable from
Ex-employees 28.4027 1.59
1.90
10.8.23 Claims for loss / damage to
capital assets - suppliers 28.7457 -
0.92
10.8.24 Inter Unit Accounts(Net) 31 to 37 23650.83 23651.45
Sub-Total
38480.62
36173.55
TOTAL
99120.36
92320.43
10.9 A sum of ` 224.77 crores were included in IUA balances which was transferred
from MESCOM in opening Balance Sheet.
10.10 Some of the issues accounted, which requires GOK approval for altering the
networth transfers. All efforts will be made to clear the accounting entry duly
consulting MESCOM and KPTCL since triangular transfers are involved.
NOTE: 11 SHORT TERM PROVISIONS (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
11.1 Provision for Income Tax 46.8017 588.99 -
TOTAL
588.99
-
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119
NOTE 12: TANGIBLE A S S E T S
(` in Lakhs)
Gross Block Depreciation Net Block
Assest Group A/C
Head As at
31-03-2016 Additions Deductions
As at 31-03-2017
As at 31-03-2016
Additions Deductions As at
31-03-2017 As at
31-03-2016 As at
31-03-2017
Land-Free hold 10.1 245.12 95.94 0.00 341.06 0.00 0.00 0.00 0.00 245.12 341.06
Land Held Under Lease
10.1 40.32 0.00 0.00 40.32 8.62 1.32 0.00 9.94 31.70 30.38
Buildings 10.2 7053.80 786.70 0.00 7840.50 1318.28 259.74 0.00 1578.01 5735.52 6262.49
Hydraulic Works 10.3 193.01 51.35 0.00 244.36 61.31 12.91 0.00 74.22 131.70 170.14
Other Civil Works 10.4 71.67 25.75 0.00 97.41 19.30 2.88 -0.02 22.20 52.37 75.21
Plant & Machinery 10.5 56173.51 19363.32 6945.64 68591.19 8110.45 3769.01 1015.81 10863.66 48063.06 57727.53
Computers 10.5 1342.56 315.21 184.74 1473.02 681.73 223.56 89.51 815.78 660.83 657.24
Lines Cable Networks
10.6 192678.69 40762.23 1620.29 231820.62 59737.39 11177.87 1149.17 69766.09 132941.29 162054.53
Vehicles 10.7 437.75 0.00 4.93 432.82 322.18 14.27 4.43 332.01 115.57 100.81
Furniture & Fixtures
10.8 422.69 805.43 37.26 1190.86 206.82 27.48 13.23 221.07 215.87 969.79
Office Equipements
10.9 956.35 112.73 47.36 1021.72 155.85 64.65 10.08 210.42 800.50 811.30
Tangible Assets Total 2016-17
259615.45 62318.65 8840.21 313093.89 70621.92 15553.69 2282.22 83893.40 188993.53 229200.49
Tangible Assets Total 2015-16
201569.49 67373.56 9327.60 259615.45 60190.08 12830.75 2398.90 70621.92 141379.42 188993.53
NOTE 13: INTABGIBLE A S S E T S
Intangible Assets (Software) 16-17
18.10 216.81 800.51 1.01 1016.31 213.50 287.64 0.00 501.14 3.31 515.17
Intangible Assets (Software) 15-16
18.10 216.81 0.00 0.00 216.81 213.50 0.00 0.00 213.50 3.31 3.31
Note:- The fixed assets are capitalised on receipt of Commissioning reports from the designated authority concerned of the company and the depreciation is charged from the date of Commissioning in the books of accounts.
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120
13.1 METHOD OF ACCOUNTING
13.2 The Financial statements are prepared under Historical Cost convention, in
accordance with the provisions of the Companies Act 2013, and also as per the
provisions of Electricity (Supply) Act 1948, / Electricity Act 2003, in cases of
inconsistency with the Companies Act 2013.
13.3 FIXED ASSETS
13.3.1 Fixed assets acquired / constructed are valued at actual cost of
acquisition / construction or at standard rate as the case may be, during the
current year.
13.3.2 Assets transferred by M/s. Karnataka Power Transmission Corporation Ltd,
(KPTCL) at the time of transfer of Assets ` 566.77 Cr have been stated at the
cost of transfer indicated by KPTCL in document.
13.3.3 In respect of Assets shared with KPTCL, the ownership and title vests with
KPTCL and as such, they are not reflected in the books of accounts of the
Corporation. But the share of maintenance expenditure in respect of such
assets is charged to Profit & Loss account and the accounts system was not
enabled to monitor the same.
13.3.4 Grants / subsidies received from the government or other authorities towards
capital expenditure as well as consumers contribution to capital works are
treated initially as capital reserve and subsequently adjusted as income in the
same proportion as the depreciation written off on the assets acquired out of the
grants.
13.3.5 The Corporation is in the process of transferring the titles of immovable assets
that was transferred by KPTCL. Out of 182 Properties, 148 Nos have been
transferred in the name of CESC for remaining 34 properties details annexed.
13.3.6 The Transformers released during the year are removed from assets account
only when they are sent to stores.
13.3.7 The Fixed Assets are accounted as per Government of Karnataka Notification
No. EN 08 PSR 2005 dated 05.06.2006 and EN/08/PSR/2005/11.05.2007
containing the intimation of Cost of assets and accumulated depreciation.
Further depreciation has been provided on such assets as per CERC
guidelines.
13.3.8 As per arms length agreement between KPTCL and the Corporation, certain
Facilities and buildings owned either by KPTCL or by the Corporation is being
utilized by both. The income and expenditure has not been recognized and
provided for in respect of such shared assets.
13.3.9 The Corporation accounts,
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13.3.10 The released assets at written down value and such assets when issued for
Capital works are categorized on completion of such works and in usable
condition at written down value, and
13.3.11 The released assets that are not in usable condition treated as obsolete assets
at written down value and included in other current assets.
13.3.12 Insuring fixed Assets:-
Providing insurance on fixed assets involves huge expenditure and it is not
economical, therefore fixed assets have not been insured.
Sl.
No.
Name of Division
where accounted
Details of Immovable
property
Asset in the
name of
1 N.R.Mohalla, Mysore
Kadakola LM Camp KEB
2 Ayyarahally LM Camp KEB
3
Nanjanagudu
Hullahally LM Camp KEB
4 Muguru LM Camp No title deeds
available
5 Bettahally LM Camp KEB
6
Hunsur
Hunsur Sub-division KEB
7 Kattemalalavadi KEB
8 Periyapatna Sub-division KEB
9 K R Nagar Collection Center KEB
10 Basavarajapura Camp No documents
available
11 Saraguru Section Office KEB
12 Saraguru quarters colony KEB
13
Chamarajanagara
Harave MUSS KEB
14 Chandakavadi Section office
33kv MUSS
KEB
15
Kollegala
Malemahadeshwara Hills LM
Camp
KEB
16 Kinakanahally LM Camp No title deeds
available
17
Madikeri
Shanthinikethan KEB
18 MUSS Colony, Madikeri MUSS
19 Madikeri Sub-division Office Chairman,
Indian
Corporation &
Indian Union
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122
20 Somawarapete Section office Govt Property
21 Hanagalu Shettally KEB
22 Koodige Govt.
23 Shrimangala Section office KEB
24 Virajapete Section office MUSS
25
Mandya
Tubinakere LM Camp KEB
26 Hulikere LM Camp In the name of
Govt. School
27 Maddur
Ravani LM Camp KEB
28 Kiragavalu Section office KEB
29 Pandavapura
Hangarahally LM Camp KPTCL
30 Bidarahally LM Camp KEB
31 Hassan
Old Electricity Colony (OEC) KEB
32 Dudda Section office KPTCL
33
Holenarasipura
Hally Mysore KEB
34 Bachenahally Land is not
available
NOTE: 14 CAPITAL WORKS IN PROGRESS
(` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
14.1 Capital Works in
Progress
14
Series 15615.21
16690.19
14.2 Provision for Completed
works
15
Series 1225.06
658.05
14.3 Turnkey Contractors
Control Account 26.6057 9178.75
8826.11
TOTAL
26019.02
26174.35
NOTE: 15 INTANGIBLE ASSETS UNDER DEVELOPMENT (` In lakhs)
Sl. No. Particulars Account
Code As At 31.3.2017 As At 31.3.2016
15 CWIP-MMS 14.1727 351.20 0.00
TOTAL
351.20
0.00
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123
NOTE: 16 NON-CURRENT INVESTMENTS (` In lakhs)
Sl. No Particulars Account
Code As At 31.3.2017
As At
31.3.2016
16.1 Investments:-
16.1.1 Long Term Investments-
(Un-Quoted at cost :- Trade
16.1.1.1 Investment in Equity
Instrument
Investment in share capital of
Power Company of
Karnataka Limited (25100
eq.sh. of ` 1000 each)
20.2717,
27.8117
251.00 251.00 251.00 251.00
TOTAL 251.00 251.00
NOTE: 17 - DEFERRED TAX ASSETS (NET) (` In lakhs)
Sl.
No Particulars Account Code As At 31.3.2017 As At 31.3.2016
17.1 Deffered Tax Asset 28.9507 NIL
TOTAL - NIL
NOTE: 18 LONG TERM LOANS AND ADVANCES (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
Secured, considred good
18.1
Advance / seed capital
amount paid to Power
Company of Karnataka
limited
27.8017 -
4.69
TOTAL
0.00
4.69
NOTE: 19 -OTHER NON CURRENT ASSETS
(` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
Secured, considred
good
19.1
Receivables from KPCL,
KPTCL and Other
ESCOMs
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NOTE: 19 -OTHER NON CURRENT ASSETS
(` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
19.1.1 KPTCL / VVNL
28.8267+
28.8317+
28.8367+
28.8417+
28.8817+
28.8487
3874.37
3575.21
19.1.2 MESCOM
28.8437+
28.8287+
28.7656+
28.7657+
28.8787
1900.35
1900.35
19.1.3 HESCOM 28.8397+
28.8837 720.19
720.19
19.1.4 BESCOM
28.8277+
28.8377+
28.8427+
28.8827
8.01
8.07
Sub-Total
6502.93
6203.82
19.2 Other Receivables
19.2.1 Income tax / FBT 28.8216+
28.8217 67.22
19.2.2 Deposit With Railways 28.9337 1.01
1.01
19.2.3 Deposit with Others 28.9357 2893.29
2519.35
19.2.4 Claims for loss / Damage
to materials - others 28.7297 0.29
4.71
19.2.5 Claims for loss / Damage
to capital assets - others 28.7497 10.22
6.77
19.2.6 Regulatory Asset -
KERC 28.9817 98244.60
34405.00
19.2.7 Ganga Kalyana Scheme
Deposit receivable 47.3077 64.40
63.99
19.2.8
GK Scheme Deposit
received for Backward
Classes
47.3087 3107.03
2106.04
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NOTE: 19 -OTHER NON CURRENT ASSETS
(` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
19.2.9 GK Scheme Deposit
receivable from KMDC 47.3097 880.72
594.73
19.2.10
GK Scheme Deposit
receivable from
Karnataka State SC/ST
47.3107 4731.19
2536.94
19.2.11 RGRHLL / Ashraya /
Ambedkar Scheme 47.3157 156.52
134.57
19.2.12 Energisation of Rural WS
Scheme under RDPR 47.3167 1118.79
967.85
19.2.13
Deposit contribution
works deposit received
from Government under
SCSP
47.3177 1578.20
1331.49
19.2.14
Deposit contribution
works deposit received
from Government under
SDP
47.3187 1871.49
838.46
19.2.15
Deposit contribution
works deposit received
from Govt. under TSP
47.3197 402.22
356.93
19.2.16
GK Scheme deposit
received for Backward
Classes
47.3577 5.19
2.58
19.2.17 CFL Lamps Received for
BELAKU YOJANE 47.4007 287.94
253.63
19.2.18
Deposit Contribution
works deposit received
from government under
Roof Top Grid Connected
Solar Photovoltaic system
47.7007 161.80
Sub-Total
115514.90
46191.26
TOTAL
122017.83
52395.08
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19.3 Under A/c 28.9187, the regulatory asset recognized on amounts allowed in tariff
order of subsequent period and towards the provisional gap expected to be
considered by KERC for recovery in subsequent years as on 31.03.2017 is as
follows:
Non Current Asset - `982.44 Crs (Previous year : `344.05 Crs)
Other Current Asset - Nil (Previous year : `120.41 Crs)
19.4 Transaction with KPTCL / ESCOMs are accounted as receivables are subject to
confirmation and reconciliation
NOTE: 20 CURRENT INVESTMENTS
(` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
20.1 Current investments NIL
TOTAL - -
NOTE: 21 INVENTORIES, STORES AND SPARES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
21.1 Materials Stock Account
21.1.1 Materials Stock Account 22.6107 4965.36
6704.53
21.1.2 Material imprest Account 22.6417 3.48
3.48
21.1.3 Materials pending
inspection 22.6607 -
-
21.1.4 Other Materials Account
22.6807+
22.7207+
22.7307+
22.7317+
22.7607
6.22
16.92
21.1.5 Stock Shortage pending
investigation 22.8207 106.45
106.45
Sub Total
5081.52
6831.39
TOTAL
5081.52
6831.39
21.2 (a) Upto 2016, inventories are valued at Standard Rate, which is determined by
Corporation from time to time based on previous purchase price and prevailing
market rates (published as O & M Schedule of Rates). The difference in actual
cost of material received and standard issue rate represents “Material cost
12th
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127
Variance”. At the end of the year debit balance if any, under “Material Cost
Variance” is charged to Profit & Loss A/c and credit balance if any is transferred to
reserve called Reserve from Material Cost Variance”. With implementation of AS-2
from 01.04.2016 the balance under Material cost variance reserve account has
been transferred to income account.
21.2(b) Inventories - Stores and spares are valued at lower of cost determined on weighted
average basis and net realizable value wherever applicable. Net Realizable value is
the estimated selling price less estimated costs necessary to make sale.
21.2(c) In respect of the materials identified as scrap / obsolete by the competent authorities,
the value of such materials shall be accounted at scrap rate or reduced by 90% of
the existing value and 10% value shall be retained as the value of scrap / obsolete
materials till its disposal.
NOTE: 22 TRADE RECEIVABLES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
22.1 TRADE RECEIVABLES
22.1.1 For sale of Power-LT,
HT & Others 23.1 50031.97
80549.06
22.1.2 For sale of Power-HT &
Others 23.2 4943.43
5496.06
22.1.3 For sale of Power-Fuel
Adjustment Cost 23.2917 358.07
394.17
22.1.4 For sale of Power-
Electricity Tax
23.3017,
23.3027 4099.23
4271.81
22.1.5 Unbilled Revenue 23.4 19035.78
17487.44
22.1.6 Misc Receipts from
Consumer 23.7 39245.59
60581.04
22.1.7
Subsidy receivable from
GOK towards BJ / KJ
waiver amount and
additional subsidy
28.6257 21943.88
12874.88
22.1.8 Subsidy receivable from
GOK towards BJ / KJ 28.6267 250.53
0.00
22.1.9
Amount receivable from
State Govt. towards free
supply of Power to IP
sets up to 10HP
28.6277 30328.71
5439.89
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128
NOTE: 22 TRADE RECEIVABLES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
22.1.10 Receivable from PCKL 28.9197 51630.83 221868.03
187094.35
Less:
22.1.11 Provision for withdrawal
of Revenue Demand 23.8 137.80
157.97
22.1.12
Provision for Doubtful
Dues from consumers
(Credit Account)
23.9 5698.38 5836.18 5694.61 5852.59
Net Receivables against
Supply of Power 216031.85
181241.76
TOTAL
216031.85
181241.76
22.2
Outstanding for less than
6 months & considered
good
125017.18
104836.43
22.3
Outstanding for more
than 6 months &
considered good
96850.85
82257.92
22.4 As per KERC Bangalore, Notification No: D/07/7 Dated 01.10.2007, KERC
(Security Deposit) Regulations, 2007 Notified in Karnataka Gazette Dated
11.10.2007, Company is collecting additional security deposit collected till
deposit held at credit falls short of average bill amount corresponding to
2 Months (2MMD) and at the end of FY-16 the company is having
` 52115.50 lakhs (PY ` 46947.64) as Security Deposit. The receivables to the
extent of `5698.38 lakhs (PY ` 5694.61) is considered as bad & doubtfull debts
& provided for in accounts. The balance Trade receivables can be recovered by
enforcing rule of Disconnection, for the disconnected installations, by enforcing
Recoveries of Dues Act- 1976- treating the arrears as Arrears of Land Revenue,
wherever applicable.
22.5 In the account head 23.9, i.e. Provisions for bad & doubtful debts a sum of
` 3235 lakhs is also continued which is transferred from MESCOM.
22.6 Trade receivable includes the arrears of IP consumers below 10HP prior to
31.07.2008 is as below
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(` in lakhs)
Particulars Principal Interest Total
Closing Balance as on 31.07.2008 33158 10478 43636
Closing Balance as on 31.03.2017 31126 37197 68323
No Interest has been recognized on dues of IP sets consumers below 10HP
from the year 2014-15
22.7 Pursuant to the scheme of securitization of receivables from Gram Panchayat
vide GOK order no EN 3 PSR 2016/P-3 Dated 31.03.2017 in favour of M/s
Power Corporation of Karnataka limited (PCKL) in respect of all ESCOMs, the
Company had initiated action to transfer its debts outstanding from Gram
Panchayats as at 31st March 2015 amounting to ` 516.31 Crores. Since the
debts to be assigned / transferred in favour of M/s. PCKL are to be
unencumbered, the Company had taken steps to release the encumbrance with
their lenders and upon release of such encumbrance the debts will be assigned
and transferred to M/s. PCKL in the ensuring year. Pending completion of
formalities relating to encumbrance the debts owned by Gram Panchayats are
shown under A/c head 28.9197 i.e Receivable from M/s. PCKL. Further, in
compliance with the GOK Order, the interest charged on these receivables for
the year 2015-16 amounting to `47.09 crores is written off and interest has not
been charged during the year 2016-17.
NOTE: 23 CASH AND BANK BALANCES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
23.1 Balances with Banks
23.1.1 Collecting Bank Accounts
(Non-Operative) 24.3 786.04 786.04 815.18 815.18
23.1.2 Disbursement Bank Account
(Operative)
23.1.3
Disbursement Bank (Operative)
Account - State Bank of Mysore
(E-A/C)
24.4117 15.44
121.28
23.1.4
Disbursement Bank (Operative)
Account - State Bank of Mysore
(CA-P&G Trust A/C)
24.4117 0.13
177.55
23.1.5 Disbursement Bank (Operative)
Account - State Bank of Mysore 24.4117 3191.04
970.32
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NOTE: 23 CASH AND BANK BALANCES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
23.1.6 Disbursement Bank (Operative)
Account - Canara Bank 24.4147 148.43
102.80
23.1.7
Disbursement Bank (Operative)
Account - SBM (D.S.R.A) A/c
(7156)
24.4117 0.09
0.00
23.1.8
Disbursement Bank (Operative)
Account - SBM (I.P.D.S) A/c
(64186438626)
24.4117 1016.23
0.00
23.1.9
Disbursement Bank (Operative)
Account - SBM (DDUGJY) A/c
(64186437178)
24.4117 1673.04
0.00
23.1.10
Disbursement Bank (Operative)
Account - Canara Bank (F.D) -
665
21.4147 9.30
0.00
23.1.11 Disbursement Bank (Operative)
Account - Syndicate Bank 24.4157 2184.43
9.56
23.1.12
Disbursement Bank (Operative)
Account - Syndicate Bank (A/c
No 1991) (CLTD)
24.4157 0.02
0.00
23.1.13
Disbursement Bank (Operative)
Account - Bank of India A/c No:
844920110000073)
24.4217 59.10
0.00
23.1.14 Disbursement Bank (Operative)
Account - Vijaya Bank 24.4097 872.25
879.78
23.1.15
Disbursement Bank (Operative)
Account - Vijaya Bank (F.D)-
854
24.4097 0.94
0.00
23.1.16 Disbursement Bank (Operative)
Account - Vijaya Bank-211 24.4097 2.13
0.00
23.1.17 Disbursement Bank (Operative)
Account - State Bank of Mysore 24.4017 1542.89
101.30
23.1.18 Disbursement Bank (Operative)
Account - Canara Bank 24.4047 15.10
1.49
23.1.19 Disbursement Bank (Operative)
Account - Syndicate Bank 24.4057 6.88
13.37
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131
NOTE: 23 CASH AND BANK BALANCES (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
23.1.20 Disbursement Bank (Operative)
Account - Corporation Bank 24.4307 -
0.53
23.1.21
Disbursement Bank -
(Operative) Account - IDBI
BANK
24.4317 0.23
15.78
23.1.22
Disbursement Bank -
(Operative) Account - IDBI
BANK - 34539
24.4317 353.73
0.00
23.1.23
Disbursement Bank -
(Operative) Account -
CORPORATION BANK
24.4327 299.58
77.25
23.1.24 Disbursement Bank Account
Axis Bank Limited 24.4337 7.33
44.61
23.1.25 Disbursement Bank Account
ICICI Bank (A/c No 11056) 24.4347 10.72
0.61
Sub-Total
11409.03
2516.22
23.2.1 Cash on Hand 24.1107 143.46
579.19
23.2.2 Cheques / drafts on hand 24.1107 1863.28
164.89
23.3 Imprest with staff 24.2107 5.67 2012.40 5.38 749.46
23.4 Others
23.4.1 Postage stamps on hand 24.1207 1.24
1.11
23.4.2 Remittance to Head Office-
Transit Account 24.5017 24.20
2.71
23.4.3 Transfers from Head Office in
Transit Accounts
24.6
series 860.14 885.59 10806.20 10810.03
23.5 Fixed deposits in Banks
23.5.1 Short term deposits
23.5.2 Cash and Cash Equivalent
(Short term deposits) 20.2807 1510.61 16603.67 3434.77 18325.66
Other Bank Balances
Deposits provided as margin
money for letter of credit 20.2807 125.26 125.26 853.34 853.34
TOTAL
16728.92 19178.99
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132
(` In Lakhs)
Deposit FY17 FY16
Maturity less than 3 months 14.38 159.00
Maturity :- 3 months to 12 months 1621.48 4129.11
Maturity :- more than 12 months 0.00 0.00
Total 1635.86 4288.11
# Entry passed for IP / BJ & KJ subsidy ordered by GOK to an extent of `10775 lakhs during
March-2016.
NOTE: 24 SHORT TERM LOANS AND ADVANCES
(` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
24.1 Capital Advance
Un-secured
considered good
24.1.1 Advance to Suppliers
and Contractors
24.1.1.1 Advances to Suppliers 25.5017 0.00
132.86
24.1.1.2 Advances to
Contractors
26.6027
26.6037 6590.85
12380.83
Sub-Total
6590.85
12513.69
24.2 Other Loans and
Advances
24.2.1 Un-Secured
considered good
24.2.2.1
Loans and advance
to Staff-Interest
bearing
24.2.2.2 Advance of Pay 27.2017 0.00
0.00
24.2.2.3 Travel advance 27.2027 1.53
3.43
24.2.2.4 Festival advance 27.2037 70.47
52.95
24.2.2.5 Medical advance 27.2047 43.49
37.58
24.2.2.6 Advance to staff
against expenses 27.2057 21.91
114.29
24.2.2.7 Other Loans and
Advances 27.8007 0.20
15.20
Sub-Total
137.62
223.44
TOTAL
6728.46
12737.14
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133
NOTE: 25 OTHER CURRENT ASSETS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
25.1 Sale of Store 28.1037 &
28.1047 0.00
0.26
25.2
Income accrued and dues
others (Bank Deposits &
rebate on power purchase)
28.3907 619.59
194.28
25.3 Recoverable from GOK
25.3.1 Revenue Subsidy/Grant
receivable
28.6107 &
28.6117 1862.73
1862.73
Sub-Total
2482.32
2057.27
25.4 Recoverable from Employees
25.4.1 Penalties recoverable from
GAM-K 28.1067 0.00
0.00
25.4.2 Amount recoverable from
Employees 28.4017 151.54
6.09
25.4.3 Amount recoverable from
Ex-employees 28.4027 0.00
0.00
25.4.4 Cash found short due to theft
etc., pending Investigation 28.4037 0.24
0.24
25.4.5 Material drawn by Executive
Sub-Ordinates 28.4047 3.36
3.36
25.4.6 Amount recoverable from
employees-material related 28.4097 137.13
61.88
Sub-Total
292.27
71.57
25.5 Others
25.5.1 Receivable others - Belaku
Yojane 28.1057 0.00
0.00
25.5.2 GOK Department 28.1107 74.18
165.58
25.5.3
Sundry debtors - deposit from
contribution works dasara
festival
28.1217 0.00
0.00
25.5.4 Expenses recoverable from
Suppliers 28.8107 71.20
38.11
25.5.5 Prepaid Expenses 28.8207 173.18
8.82
25.5.6 Advance Tax Paid (TDS) 28.8217 0.00
0.00
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134
NOTE: 25 OTHER CURRENT ASSETS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
25.5.7 Receivables others 28.8987 81.95
116.26
25.5.8 Regulatory Asset - KERC 28.9187 0.00
12041.00
25.5.9 Securities from suppliers 28.9307 0.00
0.00
25.5.10 Amount receivable from P&G
Trust 28.9077 25.21
3.81
25.5.11 Receivable from beneficieries
of Solar Lanterns 28.1257 11.54
5.30
25.5.12 Provisional bill paid to NTPC
rebate scheme 28.9497 0.00
0.00
25.5.13 Amount Receivable in cash
from BESCOM 28.8827 12082.00
0.00
25.5.14 Receivable from BESCOM -
Power Purchase 28.8907 0.00
0.00
25.5.15 Receivable from MESCOM -
Power Purchase 28.8917 0.00
0.00
25.5.16 Receivable from HESCOM-
Power Purchase 28.8927 149.00
149.00
25.5.17 Receivable from GESCOM-
Power Purchase 28.8937 2162.00
2162.00
25.5.18
Transformers/meters
etc.,Issued to Contractors /
Suppliers for repairs
26.6047 890.07
1228.56
25.5.19
Transformers/meters etc.
issued to repairs for Board
Personnel
27.2107 111.71
184.54
25.5.20 Receivable from PCKL 28.9197 0.00
0.00
25.5.21
Advance Paid to SPPCC
towards UI Charges
(Unsheduled Interchange
Charges)
28.9457 0.00
0.00
25.5.22 Written down value (WDV) of
obsolete/Scrapped assets.
16.1
Series 814.85
757.54
25.5.23 Written down value (WDV) of
Faulty/Dismantled Assets
16.2
Series 2003.58
1753.08
25.5.24 M/s MAPS 41.1137 0.00
0.00
25.5.25 M/s EDCL 41.1287 0.00
8.38
25.5.26 M/s Vijayalakshmi Hydro 41.1297 0.19
0.00
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135
NOTE: 25 OTHER CURRENT ASSETS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
25.5.27 M/s Hemavathi Power & Light
Pvt. Ltd.,-1 (HLBC) 41.1327 0.00
16.30
25.5.28 M/s Hemavathi Power & Light
Pvt. Ltd.,-11 (HRB) 41.1337 0.00
5.51
25.5.29 M/s Trishul Power Pvt Ltd 41.1347 0.02
0.00
25.5.30 Energy Balance A/C -
HESCOM 41.1487 4575.03
7675.47
25.5.31 Energy Balance A/C -
GESCOM 41.1497 5220.79
8374.80
25.5.32 M/s Venika Green Power 41.1627 0.00
3.36
25.5.33 M/s BPCL (Manjadka) 41.1927 0.30
0.00
25.5.34
For Purchase of power High
cost power procured by PCKL
on behalf of CESC
41.2677 58.88
321.36
25.5.35 For purchase of power from
M/S POSOCO-SRLDC 41.4277 43.61
2.63
25.5.36 M/s Avon GP-09 41.4057 0.00
46.97
25.5.37 M/s Savitha Chemicals - H26 41.4067 0.00
50.24
25.5.38 M/s Savitha Chemicals - H32 41.4077 0.00
52.59
25.5.39 M/s Sai Nireeha Power
Project Pvt.Ltd., 41.4497 0.00
0.00
25.5.40 M/s Athani Sugars Ltd., 41.4547 7.42
0.00
25.5.41 M/s SLDC, KPTCL (Reactive
Energy Charges) 41.4947 13.58
0.00
25.5.42 M/s PCKL (Reactive Energy
Charges - Inter State) 41.4957 39.36
0.00
25.5.43 M/s Flax Hydro Energy
Pvt.Ltd., 41.4507 0.00
1.87
25.5.44 IT deducted at source on
other payments 46.9257 10.83
0.00
25.5.45 Excess Credit afforded by Bank
pending reconciliation-SBM 46.9717 0.00
0.00
25.5.46 Salary Payable 44.3107 0.00
0.00
25.5.47
Excess Credit afforded by
Bank pending reconciliation -
SBM
46.9747 0.00
0.00
25.5.48 Revenue Suspense 47.6077 0.00
0.00
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136
NOTE: 25 OTHER CURRENT ASSETS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
25.5.49 Revenue Collection pending
classification 47.6097 0.00
25.08
Sub-Total
28620.47
35198.16
TOTAL
31395.06
37326.99
25.5.50 Under A/c 28.9187 the Regulatory Asset recognized on amounts allowed in tariff
order of subsequent period and towards the provisional gap expected to be
considered by KERC for recovery in subsequent years as on 31.03.2017 is as
follows:
Non Current Asset - ` 982.44 Crs (Previous Year : ` 344.05 Crs)
Other Current Asset - ` Nil (Previous Year : ` 120.41 Crs)
25.5.51 The GOK vide order No. EN 34 PSR 2008 Dated 19.08.2010 has ordered to
refund the amount paid by the framers during the period from 01.04.2001 to
31.03.2003 to them and the same is implemented by CESC. An amount of
` 18.63 Crs is shown as receivable from GOK under A/c code 28.6117.
NOTE: 26 REVENUE FROM OPERATIONS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
26.1 Revenue from
Operations
26.1.1 REVENUE FROM
SALE OF POWER-LT
26.1.1.1 Bhagya jyothi/ Kutira
Jyothi above 18 Units 61.1017 2736.10
2297.23
26.1.1.2
Bhagya jyothi/ Kutira
Jyothi Tariff Subsidy
upto 18 Units
61.6267 2389.53
2381.56
26.1.1.3
Domestic combined
lighting, heating and
motive power LT 2a(i)
61.1027 29947.22
25762.83
26.1.1.4
Domestic combined
lighting, heating and
motive power LT 2a(ii)
61.1037 13781.36
11335.88
26.1.1.5
Private, Professional
and other private
educational institutions
& Hospitals LT2 b(i)
61.1117 476.77
404.41
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137
NOTE: 26 REVENUE FROM OPERATIONS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
26.1.1.6
Private, Professional
and other private
educational institutions
& Hospitals LT2 b(ii)
61.1127 210.54
177.40
26.1.1.7 Comml. Ltg.Htg. &
motive power LT3(i) 61.1157 17813.41
16240.47
26.1.1.8 Comml. Ltg.Htg. &
motive power LT3(ii) 61.1167 5950.57
5199.76
26.1.1.9
Revenue from sale of
power - Applicable to
KPTCL 33 KV, 66 KV, &
above stations
installation consumption
(Auxillary Consumption)
61.1177 198.57
201.24
26.1.1.10 Irrigation Pumpsets
(below 10 HP) -LT4a 61.1187 2561.23
1456.60
26.1.1.11
Subsidy receivable for
free Power supply to IP
Set below 10HP
61.6277 152443.82 101796.44
26.1.1.12
Private Horticulture
Nurseries,Coffee, &
Tea Plantations above
10HP LT4C(ii)
61.1207 269.12
212.64
26.1.1.13
Irrigation Pump sets
(above 10HP)/ Water
Lifting LT-4(b)
61.1217 56.48
39.87
26.1.1.14
Private Horiticultural
Nurseries, Coffee, &
Tea Plantations LT4 C(i)
61.1287 388.46
191.42
26.1.1.15
Installations motive
powers with 5.H.P and
below LT5(a)(i)
61.1297 310.87
207.69
26.1.1.16
Installations motive
powers with above
5HP & Below 40 HP
LT5(a)(ii)
61.1307 1168.51
1066.06
26.1.1.17
Installations motive
powers with above 40
HP & below 67 HP
LT5(a)(iii)
61.1317 1726.08
1637.84
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138
NOTE: 26 REVENUE FROM OPERATIONS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
26.1.1.18
Installations motive
powers with above 67
HP LT5 (a)(iv)
61.1337 156.77
163.68
26.1.1.19
Installations motive
powers with 5 HP &
below LT5(b)(i)
61.1347 693.53
601.89
26.1.1.20
Installations motive
powers with above
5 HP & below 40 HP
LT5 b(ii)
61.1357 2987.27
2659.16
26.1.1.21
Installations motive
powers with above
40 HP & below 67 HP
LT5 b(iii)
61.1367 2378.66
2334.40
26.1.1.22
Installations motive
powers with above 67
HP LT5 b(iv)
61.1377 221.56
250.68
26.1.1.23 Water Supply – RLB,
ULB & Others LT6(a) 61.1407 10758.41
6315.51
26.1.1.24 Public Lighting - RLB,
ULB & Others LT-6(b) 61.1417 6695.16
5790.45
26.1.1.25
Temporary Power
Supply Non commerical
lights and fans and
other small appliances
LT-7(a)
61.1457 2119.43
1710.71
26.1.1.26
Applicable to hoardings
& Advertisement
boards, Bus shelters etc
power supply on
permanent connection
basis sanctioned load
containing less than 67
HP LT7 (b)
61.1467 6.37
6.46
Sub-Total
258445.82
190442.29
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139
NOTE: 26 REVENUE FROM OPERATIONS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
26.1.2 Revenue from Sale of
Power -HT
26.1.2.1
Public Water Supply &
Sewerage Pumping
HT-1
61.2507 20474.06
18894.21
26.1.2.2
Industrial, Non Industrial
& Commercial purposes
& Railway Traction
HT-2(a)
61.2554,
61.2557 48909.92
50933.43
26.1.2.3 Commercial HT-2(b) 61.2567 10754.78
9244.02
26.1.2.4
Governement
Hospitals, Hospitals
run by Charitable
Institutions, ESI
Hospitals, Universities,
Educational institutions
etc., HT-2 C (i)
61.2837 2195.54
1855.89
26.1.2.5
Educational institutions
and Hospitals (other
than those covered
under HT-2 C (i)) -
HT-2 C(ii)
61.2847 1348.52
1357.97
26.1.2.6
Lift irrigation Schemes/
Lift irrigation societies
under Govt.
Department/ Govt
owned Corporations
HT-3 (a) (i)
61.2604,
61.2607 1923.25
1865.61
26.1.2.7
Private LI Schemes and
Lift Irrigation societies
other than those
covered under HT-3(b)
61.2617,
61.2627
12.30
3.45
26.1.2.8
Residential apartments
and colonies availing
power supply
independently HT-4
61.2807 235.04
303.17
26.1.2.9 Revenue from sale of
power – HT5 61.2707 1094.25
357.14
Sub-Total
86947.65
84814.89
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NOTE: 26 REVENUE FROM OPERATIONS (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
26.2 Less: Withdrawal of
Revenue Demand
83.8337+
83.8307+
83.8317+
83.8327+
83.8347
93.49 93.49 174.41 174.41
26.3 OTHER REVENUE
FROM OPERATIONS
26.3.1 Wheeling charges
26.3.2
Miscellaneous
Charges from
Consumers
26.3.2.1 Reconnection Fee
D & R
61.9027+
61.9017 75.37
37.07
26.3.2.2 Service Connection
(Supervision Charges) 61.9047 867.18
698.41
26.3.2.3 Miscellaneous Charges
from Consumers 61.9067 285.49
218.76
26.3.2.4 Cross subsidy Charges 61.2907 982.65
525.72
26.3.2.5 Fuel Cost Adjustment
Charges 61.2917 389.71
1015.55
26.3.2.6
Registration fee towards
SRTPV connection
(Solar roof top system)
61.9077 0.60
2.29
26.3.2.7
Facilitation fee towards
SRTPV connection
(Soalr roff top system)
61.9087 1.89
2.53
26.3.2.8 SRTPV application
fees 61.9177 -
0.01
Sub-Total
2602.89
2500.34
TOTAL
347902.86 277583.10
26.4 Particulars 2017 2016 Difference % Increase
Sales In (MU) 6260.28 5405.23 855.05 15.82
Revenue in lakhs 347902.86 277583.10 70319.76 25.33
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141
26.5 All Income and Expenditure having a material bearing on the financial
Statements are recognized on accrual basis.
26.5.1 Revenue Recognition.
26.5.1.1 Revenue from sale of energy is accounted on accrual basis.
26.5.1.2 The sale of energy is as per the tariff fixed by the Karnataka Electricity
Regulatory Commission (KERC).
26.5.1.3 Revenue for the year is also adjusted by estimating un-billed revenue of
previous year and current year.
26.6 Total Revenue from sale of energy during 2016-17 includes ` 19035.78 Lakhs
in respect of revenue accrued but pending billing at the year end. The same
was ` 17487.44 Lakhs for the previous year 2015-16.
26.7 During the year the amount to be received from the GOK as subsidy towards
free power supply to IP set consumer having connected load of upto and
inclusive of 10 HP and free power supply to BJ/KJ consumers with consumption
upto 18 units on actual basis is ` 152443.82 (PY ` 101796.44) lakhs and
` 2389.53 (PY ` 2381.56) lakhs respectively. Out of the said receivable, an
amount of ` 127555.00 (PY ` 147364.13) lakhs and ` 2139.00 (PY ` 3858.87)
lakhs has been released for IP set and BJ/KJ installations respectively as per
KERC Tariff Order. The balance amount is accounted as receivable from GOK.
26.8 The Corporation follows the method of recognizing the Revenue surplus
(Net Profit after tax) for the year as per CERC guidelines, at a benchmark rate
of 15.5% ROE.
26.9
26.10
The Government of Karnataka in its Order No. EN 48 PSR 2006 Bangalore,
Dated 13.06.2007 has approved to account R.E Subsidy as Tariff Subsidy by
ESCOMs in the books of accounts for Financial Year 2006-07 onwards and the
same has been accounted accordingly during this year.
Under A/c 61.9187, the Regulatory Assets of ` 517.99 Crs (PY ` 464.46 Crs)
includes, ` Nil (PY ` 120.41 Crs as allowed by the commission in its Tariff
Order) and additional regulatory asset to the extent of ` 638.40 Crs (PY
` 344.05 Crs) computed towards the provisional gap expected to be considered
by KERC for inclusion in the tariff revision of future years net of reversal of
` 120.41 Crs (PY Nil) created in FY 16.
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142
NOTE: 27 OTHER INCOME (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
27.1 Interest Income
27.1.1 From Consumers
27.1.1.1 Delayed Payment Charges
from Consumers 61.9057 3973.99
8039.97
27.1.2 From Others
27.1.2.1 Interest on Bank Short term
Deposits
62.2227+
62.2607 367.22
176.21
27.1.2.2 Interest from Bank SB A/c 62.2707 0.25
-
Sub-Total
4341.46
8216.18
27.2 Dividend Income
27.3 Net Gain/Loss on Sale of
Investments
27.4 Other Non-Trading Income
27.4.1 Profit on sale of Stores 62.3307 2.32
1.49
27.4.2 Sale of Scrap
62.3407+
62.4007+
62.4107
16.66
26.76
27.4.3 Other Miscellaneous
receipts from Trading 62.3607 5.66
9.75
Sub-Total
24.63
38.00
27.5 Miscellaneous Receipts
27.5.1 Income accrued on account
of energy savings 62.2657 28.14
26.19
27.5.2 Rental from Staff Quarters 62.9017 199.18
201.90
27.5.3 Rental From others 62.9027 5.70
3.07
27.5.4
Excess found on Physical
verification of Materials
Stock, Fixed asset and
Cash.
62.9047+
62.9057 5.51
1.31
27.5.5 Rebate- for collection of
Electricity Tax 62.9167 54.36
43.64
27.5.6 Miscellaneous Recoveries 62.9177+
62.9178 3160.82
6100.07
27.5.7 Incentives received 62.9187 387.78
1361.21
27.5.8 Supervision Charges 62.9077 241.79
0.00
27.5.9 One Time maintenance 62.9087 3.69
0.00
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NOTE: 27 OTHER INCOME (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
cost for New Layouts
27.5.10
Depreciation withdrawn
from Contribution /
subsidies as per AS-12
62.9607 4521.68
2556.88
27.5.11 Write back of Interest 62.2807 4298.00
-
Sub-Total
12906.65
10294.28
27.6 Income relating to
previous Years:
27.6.1 Receipts from consumers
relating to prior periods 65.2007 1474.39
976.10
27.6.2 Excess provision for IT 65.5007 -
0.03
27.6.3 Excess provision for
Depreciation in Prior Periods 65.6007 140.71
85.71
27.6.4
Excess provision for interest
and finance charges in Prior
periods
65.7007 154.22
181.59
27.6.5 Other Excess provision in
Prior Periods 65.8007 1273.79
1398.47
27.6.6 Other income relating to
prior periods 65.9007 816.57
333.08
Sub-Total
3859.69
2974.97
TOTAL
21132.44
21523.42
27.7
As per the Government Order No.EN O6 PSR 2009 Bangalore, Dated 22.2.2010
the rebate payable to the Electricity Distribution Compaines for collection of
Electricity Tax from Consumers and its remittance to Govt. is revised from 1.5 %
to 0.5% with effect from 01.01.2010
27.8
27.9
27.10
27.11
The Other income for 2016-17 of ` 21132.44 (PY ` 21523.42) lakhs includes the
Delayed Payment Charges from Consumers of ` 3973.99 (PY ` 8039.97) lakhs.
Accounting of Auxiliary consumption of KPTCL 33 KV, 66 KV & above station
consumption period from 2005-06 to 2016-17 is calculated based on State
Average Power Purchase Cost as per KERC Order dated for OP No.83/2016.
With implementation of AS-2 from 1.04.2016 the balance under Material cost
variance reserve account has been transferred to income account.
In accordance with the CERC Regulations and to fulfill the AS-12 Depreciation
on assets acquired out of the Grants, subsidy & Consumer contribution has been
withdrawn to an extent of ` 4521.68 Lakhs (PY ` 2556.88 lakhs).
12th
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144
NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1 Purchase of Power
28.1.1 M/s KSEB 70.1027 55.04
50.38
28.1.2 M/s KPCL 70.1087 70236.85
70830.84
28.1.3 M/s NTPC-RSTPS STG
I &II 70.1107 11037.73
9051.72
28.1.4 M/s NTPC - RSTPS
STG.III 70.1117 2888.37
2747.94
28.1.5 M/s. NTPC -Talcher
STG.II 70.1127 7445.35
5934.70
28.1.6 M/s. MAPS 70.1137 546.54
468.13
28.1.7 M/s. NLC - TPS I 70.1147 3929.85
2882.88
28.1.8 M/s. NLC - TS II 70.1157 12408.53
6602.21
28.1.9 M/s PGCIL - SREB UI
Pool Account 70.1167 1680.72
2024.81
28.1.10 M/s. KAIGA 70.1177 6730.64
6774.27
28.1.11 M/s.JSW PTCL 70.1217 8324.31
13958.52
28.1.12 M/s South India Paper
Mills 70.1227 358.59
216.63
28.1.13 M/s ICL Coromandel
Sugars Ltd. 70.1237 106.22
1062.33
28.1.14 M/s Bannari Amman
Sugar Ltd-I 70.1247 1166.85
621.69
28.1.15 M/s Bhourka
(Madhavamantri) 70.1267 421.74
761.85
28.1.16 M/s Bhourka
(Mandagere) 70.1277 93.52
116.35
28.1.17 M/s EDCL 70.1287 559.96
579.50
28.1.18 M/s Vijayalakshmi Hydro 70.1297 21.08
109.03
28.1.19 M/s Atria Power
(Brindavan) 70.1307 10.63
742.19
28.1.20 M/s Bhoruka Power
Corporation Ltd. 70.1317 113.80
118.32
28.1.21 M/s Hemavathi Power &
Light Pvt. Ltd. -I (HLBC) 70.1327 359.23
687.28
28.1.22 M/s Hemavathi Power & 70.1337 522.19
301.40
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NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
Light Pvt. Ltd. -II (HRB)
28.1.23 M/s Trishul Power Pvt.
Ltd. 70.1347 72.91
127.98
28.1.24 M/s Chamundeshwari
Sugars Ltd 70.1377 39.34
0.00
28.1.25 M/s. Bhoruka Power
Corporation Ltd. 70.1387 631.17
935.43
28.1.26 M/s KPTCL
Transmission Charges 70.1397 34650.33
30542.22
28.1.27 M/s PGCIL
Transmission Charges 70.1407 15511.27
10481.91
28.1.28 M/s SLDC- O&M
Expenses 70.1427 240.00
215.72
28.1.29 M/s SPPCC O & M
Expenses 70.1437 81.92
86.63
28.1.30 M/s TBHE 70.1457 0.00
99.54
28.1.31 Energy Balance A/C-
BESCOM 70.1467 19525.30
8188.36
28.1.32 Energy Balance A/C-
MESCOM 70.1477 3675.35
(99.07)
28.1.33 Energy Balance A/C-
HESCOM 70.1487 3074.64
(6277.47)
28.1.34 Energy Balance A/C-
GESCOM 70.1497 3165.28
308.93
28.1.35 M/s PTC India Ltd. 70.1607 3691.67
830.64
28.1.36
M/s Lanco Electric Utility
Co. (Open Access
Charges)
70.1617 2363.35
441.39
28.1.37 M/s Venika green power 70.1627 -
(0.24)
28.1.38 M/s EDCL (wind) 70.1647 111.46
100.16
28.1.39 M/s Keerthi IND 70.1657 105.81
95.79
28.1.40 M/s Renaissance
Holding (27&28) 70.1667 218.25
196.23
28.1.41 M/s Renaissance
Holding (33&35) 70.1677 222.50
200.33
28.1.42 M/s Nutech associates 70.1687 127.02
119.74
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146
NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1.43 M/s Senthil Energy Pvt
Ltd 70.1697 113.61
99.91
28.1.44 M/s Qube energy
Projects Pvt Ltd. 70.1707 120.32
103.65
28.1.45 M/s Sapthagiri
Distilleries 70.1717 232.74
210.05
28.1.46 M/s Savitha Oil
Technologies Ltd. (H.05) 70.1727 256.60
218.69
28.1.47 M/s Kuminex Minerals
Pvt.Ltd. 70.1737 265.34
225.61
28.1.48 M/s NVR Vidyut Pvt Ltd
(H.36- 38) 70.1747 276.82
225.42
28.1.49 M/s The Chennai Silks 70.1757 142.05
103.62
28.1.50 M/s NVR Vidyut Pvt Ltd
(H.40) 70.1767 80.23
69.40
28.1.51 M/s Mukund Kamath.S 70.1777 70.97
61.77
28.1.52 M/s NVR Vidyut Pvt Ltd
(H.43) 70.1787 86.25
72.13
28.1.53 M/s Happy valley
Developers 70.1797 66.04
49.59
28.1.54 M/s Emkay taps &
Cutting Tools .Pvt. Ltd. 70.1807 65.53
57.30
28.1.55 M/s Rathnagiri Impex.
Pvt, Ltd 70.1817 56.29
42.46
28.1.56 M/s Ramco Industries 70.1827 93.71
102.37
28.1.57 M/s Ushdev Engitech
Ltd. (H-14) 70.1837 93.42
75.99
28.1.58 M/s Ushdev Engitech
Ltd. (H-15) 70.1847 102.50
92.64
28.1.59 M/s Ushdev Engitech
Ltd. (H-16) 70.1857 122.27
109.43
28.1.60 M/s Ushdev Engitech
Ltd. (H-17) 70.1867 128.61
116.49
28.1.61 M/s Ushdev Engitech
Ltd. (H-18) 70.1877 123.31
111.18
28.1.62 M/s Ramabhen Ukabhai
(H-19) 70.1887 106.72
104.06
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147
NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1.63 M/s Limbavali Power
Private Ltd. 70.1897 204.58
760.68
28.1.64
LC Charges/ Other Bank
Commission Paid For
Purchase Of Power
70.1917 171.49
107.02
28.1.65 M/s BPCL (Manjadka) 70.1927 320.51
361.73
28.1.66 M/s Simran Wind
Projects H-29 70.1947 74.19
66.55
28.1.67 M/s Simran Wind
Project H-34 70.1957 92.88
84.64
28.1.68 M/s Atria Brindavan (4
Mega Watt) Ltd 70.1977 154.11
420.93
28.1.69 M/s High cost energy
suppliers 70.2677 2871.73
25.96
28.1.70 M/s NTPC VVNL (IPP) 70.4017 165.95
0.00
28.1.71 M/s BVSR-11 70.4027 96.23
82.09
28.1.72 M/s BVSR-12 70.4037 89.25
77.73
28.1.73 M/s Avon GP-08 70.4047 104.60
89.70
28.1.74 M/s Avon GP-09 70.4057 95.47
69.78
28.1.75 M/s Savitha Oil
Technologies H26 70.4067 101.69
95.12
28.1.76 M/s Savitha Oil
Technologies H32 70.4077 90.62
85.97
28.1.77 M/s Savitha Oil
Technologies H39 70.4087 89.02
75.57
28.1.78 M/s Friends Salt GP-14 70.4097 77.94
63.83
28.1.79 M/s Frineds Salt GP-16 70.4107 97.32
79.24
28.1.80 M/s Friends Salt GP-20 70.4117 87.89
68.64
28.1.81 M/s Sree Minerals 70.4127 91.87
70.56
28.1.82 M/s Durga Agencies,
GP-18 70.4137 96.62
80.05
28.1.83 M/s Durga Agencies,
GP-19 70.4147 92.51
72.22
28.1.84 M/s Eastmen
International Ltd 70.4157 308.12
237.72
28.1.85 M/s Mysore mercetaile
Co Ltd 70.4167 113.21
126.28
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148
NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1.86 M/s Nagarjun Hydro
Energy Ltd 70.4177 1126.54
1020.68
28.1.87 M/s UPCL 70.4187 36790.75
41635.83
28.1.88 M/s Hindustan Zinc Ltd
(GP 02,03,04) 70.4207 280.46
228.82
28.1.89 M/s Hindustan Zinc Ltd
(GP-17) 70.4217 104.05
86.84
28.1.90 M/s Hindustan Zinc Ltd
(GP-23,24) 70.4227 215.52
181.22
28.1.91 M/s Hindustan Zinc Ltd
(GP-28,31) 70.4237 350.88
288.68
28.1.92 M/s NTPC-Simhadri
Thermal Power station 70.4257 8976.03
6305.85
28.1.93
M/s Tata power Trading
Company Ltd (M/S
TPCL)
70.4267 804.09
3013.37
28.1.94 M/s POSOCO-SRLDC 70.4277 35.12
32.43
28.1.95 M/s GAIL (India) Ltd
(MG-01 to MG-06) 70.4287 620.76
495.90
28.1.96 M/s GAIL (India) Ltd
(MG-07 to MG-13) 70.4297 649.52
528.81
28.1.97 Non PPA Power
Generators 70.4307 1.19 11.07
28.1.98 M/s GAIL (India) Ltd
(MG-14 to MG-15) 70.4317 205.78
170.56
28.1.99 M/s GAIL (India) Ltd
(MG-16 to MG-17) 70.4327 167.49
138.15
28.1.100 M/s Arvind V Joshi & Co. 70.4337 88.51
70.04
28.1.101 M/s Pearlite lineres Pvt
Ltd 70.4347 106.29
85.79
28.1.102 M/s BMM ISPAT Ltd 70.4357 822.03
3902.24
28.1.103 M/s Gujarat Urja Vikas
Nigama ltd 70.4367 -
-
28.1.104 M/s Harekrishna
Metallics 70.4377 -
36.17
28.1.105 M/s NSL Sugars
(Tungabhadra) Ltd 70.4387 149.64
376.30
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NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1.106 M/s Vijayanagar Sugars
Pvt Ltd 70.4407 9.57
0.00
28.1.107 M/s NTPC Tamilnadu
Energy Pvt Ltd 70.4417 5156.77
2677.75
28.1.108 M/s Dhruvadesh
Metasteel Pvt Ltd., 70.4427
0.00 49.41
28.1.109 M/s Essar Power MP
Ltd., 70.4437 0.00 0.00
28.1.110 M/s Global Energy Pvt.
Ltd., 70.4447 0.00 267.52
28.1.111 M/s Ideal Energy Project
Ltd., 70.4457 0.00 83.08
28.1.112 M/s Reliance Energy
Trading Ltd., 70.4467 0.00 0.00
28.1.113 M/s Satish Sugars Ltd., 70.4477 65.09 385.21
28.1.114 M/s Tangedco Ltd., 70.4487 3.83 3.86
28.1.115 M/s Sai Nireeha Power
Project Pvt Ltd. 70.4497 172.25 82.47
28.1.116 M/s Flax Hydro Energy
Pvt Ltd., 70.4507 3.31 20.75
28.1.117 M/s Kudankulam Nuclear
Power Project 70.4517 6589.84 1833.09
28.1.118 M/s NTPC-VVNL(Solar) 70.4527 3136.40 2883.98
28.1.119 M/s Priyadarshni Jurala
Hydro Electric Scheme 70.4537 651.64 663.34
28.1.120 M/s Athani Sugars Ltd. 70.4547 9.90 431.89
28.1.121 M/s Nirani Sugars Ltd. 70.4557 90.67 281.86
28.1.122 M/s GMR Energy
Trading Ltd. 70.4567 0.00 85.20
28.1.123 M/s NLC-TPS II Exp 70.4577 1936.68 803.62
28.1.124 M/s NLC Tamil Nadu
Power Ltd. 70.4587 6625.36 2794.88
28.1.125 Renewable Energy
Certificate for Solar RPO
Deficiency
70.4597 0.00 0.00
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150
NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1.126 M/s Madhav solar
(Karnataka) Pvt. Ltd
(Project-1)
70.4607 643.46 433.31
28.1.127 M/s Madhav solar
(Karnataka) Pvt. Ltd
(Project-2)
70.4617 683.16 443.44
28.1.128 M/s Mittal Processors
Pvt. Ltd 70.4627 247.75 1097.28
28.1.129 M/s Balkeshwara
Sugars. Ltd 70.4637 12.61 99.53
28.1.130 M/s IPP’s under section
11 70.4647 4005.42 16813.63
28.1.131 M/s Damodar Valley
Corporation. 70.4657 14209.83 2182.11
28.1.132 M/s Emami power
Limited (Solar) 70.4667 1413.39 53.97
28.1.133 M/s Chikku Energy
Private Ltd (Solar) 70.4677 212.82 0.00
28.1.134 M/s CBM Enterprises
(Solar) 70.4687 179.08 0.00
28.1.135 M/s Maharashtra State
Electricity Distribution
Company Ltd
70.4697 2715.06 0.00
28.1.136 M/s Core Green Sugar
and Fuels Pvt Ltd 70.4707 20.27 0.00
28.1.137 M/s E.I.D Parry (India)
Ltd 70.4717 137.56 0.00
28.1.138 M/s GEM Sugars Ltd 70.4737 69.77 0.00
28.1.139 M/s Godavari Bio
Refineries Ltd 70.4747 149.31 0.00
28.1.140 M/s Jamkhandi Sugars
Ltd 70.4757 85.21 0.00
28.1.141 M/s KPR Sugar Mills Pvt
Ltd 70.4767 49.67 0.00
28.1.142 M/s Manali Sugars Ltd 70.4777 2.21 0.00
28.1.143 M/s Shiraguppi Sugar
works Ltd 70.4787 50.06 0.00
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151
NOTE: 28 PURCHASE OF POWER (` In lakhs)
Sl.
No. Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
28.1.144 M/s Shri
Prabhulineshwar Sugars
& Chemicals
70.4797 48.16 0.00
28.1.145 M/s Shivashakthi Sugars
Ltd 70.4807 54.16 0.00
28.1.146 M/s Shree Renuka
Sugars Ltd 70.4817 121.32 0.00
28.1.147 M/s Soubhagyalakxmi
Sugars Ltd 70.4827 5.92 0.00
28.1.148 M/s Saketh Solar Energy
LLP (Solar) 70.4837 133.72 0.00
28.1.149 M/s Gorich Energy Pvt
Ltd (Solar) 70.4847 45.88 0.00
28.1.150 M/s A.V Anjaneya
Prasad (Solar) 70.4857 35.91 0.00
28.1.151 M/s Solar roof top
consumer 70.5007 140.13 3.74
28.1.152 M/s Azure Sunrise Pvt
Ltd (Solar) 70.4897 45.66 0.00
28.1.153 M/s Tanivi Solar Pvt Ltd
(Solar) 70.4907 29.75 0.00
28.1.154 M/s Raygen Power Pvt
Ltd (Solar) 70.4917 22.74 0.00
28.1.155 M/s Raichur Power
Corporation Ltd
(Yermarus TPS)
70.4927 376.68 0.00
28.1.156 M/s SLDC, KPTCL
(Congestion Charges) 70.4937 (0.70) 0.00
28.1.157 M/s SLDC, KPTCL
(Reactive Energy
Charges
70.4947 (11.87) 0.00
28.1.158 M/s SLDC, KPTCL
(Reactive Energy
Charges - Inter State)
70.4957 (5.71) 0.00
TOTAL
326690.70
271774.60
28.2 The Power Purchase cost is recognized based on the Government of Karnataka
Order No. EN 131 PSR 2003 Dated 10th May 2005 for accounting the cost of
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152
power based on the billings made by Power Generators Pool allocated to
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED,
MYSORE by the Government of Karnataka.
28.3
28.4
The KERC in its Tariff Order-2009 has determined the transmission charges
based on the installed generation capacity of the state.
The final energy balancing result is awaited from LDC as on the date of
preparation of accounts. However, the energy balancing result arrived at joint
reconciliation meeting held among the ESCOMs have been incorporated in the
accounts.
28.5 Particulars 2017 2016 Difference % Increase
Power Purchased In (MU) 7544.85 6444.86 1099.99 17.07
Power Purchase Cost in
lakhs 326690.70 271774.60 54916.10 20.21
28.6 Power Purchase costs and adjustments therefor, if any, required have not been
accounted by the company wherever claims have not been received from the
respective generators or power traders.
28.7 Pending finality of decision by PCKL, ESCOMs and UPCL at their meetings for
resolving issues relating to the billing of UPCL power plant for earlier years, no
adjustments to power purchase cost has been considered necessary in the financial
statement for the year, as a matter of prudence.
28.8 M/s KPCL, has preferred a claim of ` 15.91 Crs as supplementary capacity charges
for the period from 2008-09 to 2015-16. The claim materially differs from the amount
determined by the company based on details available at our end and the same has
been communicated to M/s KPCL. Pending clarification relating to their working
which is required for ascertaining its corrections, the claim raised by KPCL has not
been accounted in FY 2016-17 and treated as contingent liability.
NOTE: 29 EMPLOYEE COSTS (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
29.1 Salaries and Wages
29.1.1 Salaries 75.1
Series 15312.85
15770.76
29.1.2 Over Time 75.2 " 277.40
327.02
29.1.3 Dearness Allowance 75.3 " 5668.91
5035.05
29.1.4 Other Allowance 75.4 " 2215.92
2332.08
29.1.5 Bonus 75.5 " 393.38
546.43
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NOTE: 29 EMPLOYEE COSTS (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
Sub Total
23868.46
24011.34
29.2.1 Medical Expenses
reimbursement 75.6117 198.01
231.78
29.2.2 Leave travel assistance 75.6127 0.24
0.41
29.2.3 Earned leave
encashment
75.6176+
75.6177+
75.6167
1093.85
1169.92
29.2.4
Earned leave
encashment - retired
employees
75.6187 643.29
586.96
29.2.5
Payment to helpers /
employees of Monsoon
Gang
75.6297,
75.6307 69.95
40.63
Sub Total
2005.34
2029.70
29.3 Staff Welfare expenses 75.7 Series 188.47
293.47
29.4 Terminal Benefits
75.8107+
75.8407+
75.8307+
75.8607+
75.8807+
75.8907+
75.8317+
75.8707
5478.74
6430.54
Sub Total
5667.21
6724.01
29.5 Less : Employees Cost
Capitalized 75.9007 -
- -
TOTAL
31541.01
32765.04
29.6.1 Employment Benefits:
29.6.2.1 The Company makes contribution for Pension and Gratuity to KPTCL / ESCOM's
Pension and Gratutiy Trust based upon the acturial valuation of the Trust. For
employees who have joined the Company on or after 01.04.2006 the penison plan
is according to New Defined Contributary Pension Scheme.
29.6.2.2 As per ‘KPTCL and ESCOM’s Pension & Gratuity Trusts’ Order No.
KEPGT/KC0123/P7/2015-16/ CYS-58 BANGALORE Dated 23rd Feb 2016. the
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Monthly Contribution rates towards Pension and Gratuity are as below.
From To
Pension Contribution
on Basic Pay +
Dearness Allowance
Gratuity Contribution
on Basic Pay +
Dearness Pay
01.04.2013 31.03.2014 32.01% 6.03%
01.04.2014
Onwards
Until further
orders
33.02% 6.06%
29.6.2.3 The contribution is being paid to the P&G Trust based on the actuarial valuation
as intimated by the Trust from time to time.
29.6.2.4 Leave encashment & family benefit fund is on cash basis, payable as per
company’s rules.
29.6.3 Subsidized Lighting Benefits to Employees:
Difference between power purchase cost and subsidized rate on free lighting
provided to the employees of KPTCL including employees on deputation to
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED,
MYSORE in the service area of the Corporation is recognized as expenditure in
the books of the company. However the same is treated as perquisites to the
concerned employees while assessing taxable Income of such employees.
29.6.4 Managerial Remuneration
(`in lakhs)
Expenses
Managing Director Director (T)
2016-17 2015-16 2016-17 2015-16
Salaries 9.98 8.37 16.07 11.72
Ex-gratia 0.11 0.01 0.05 0.04
Travelling Expenses 2.97 2.82 0.73 1.55
House Rent 5.29 5.02 0.00 0.00
Total 18.35 16.22 16.85 13.31
NOTE: 30 FINANCIAL COSTS-INTEREST AND OTHER BANK CHARGES
(` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
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30.1 Interest Expenses
30.1.1 Interest on Other Loans/
Deferred Credits
30.1.2 Interest on Over draft
SBM 78.5007 524.72
221.96
30.1.3 Interest on Loan from
REC
78.5407+
78.5417+
78.5107
5571.56
4623.01
30.1.4 Interest on Loan from
REC (Short Term) 78.5117 39.45
0.00
30.1.5 Interest on Loan from
Bank of India (Capex) 78.5127 0.00
0.00
30.1.6
Interest on Loan from
Syndicate Bank - UNIP
(Long Term)
78.5137 7.21
0.00
30.1.7 Interest on APDRP Loan
from REC 78.5447 7.89
89.87
30.1.8 Interest on Loan from
Commercial Banks 78.5607 7244.97
6654.25
30.1.9 Interest on APDRP Loan
from GOK 78.5617 162.09
185.24
30.1.10 Interest on Loan from
PFC
78.5847
78.5097 541.10
614.64
30.1.11
Interest on Loan from
GOK-Energisation of
Irrigation Wells
78.5917 0.00
2.56
30.1.12 Interest on PFC Loan for
RAPDRP 78.5978 213.32
0.00
30.1.13 Interest on consumer
Deposits 78.6 3811.02
3807.71
30.1.14
Interest on belated
payments
(Power purchase)
80.1087 to
80.2667 2764.93
705.21
30.1.15 Guarantee Commission to
GOK 78.8687 0.00
0.00
30.1.16 Other interest and
Finance Charges
78.8817+
78.8837+
78.8617+
78.8677+
78.8647+
78.8827+
78.8967
115.30
47.48
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Sub Total 21003.55 16951.94
30.2
Less:Interest and
Finance charges
Capitalized
78.9 1283.52 1283.52 1921.78 1921.78
Total Finance Costs
19720.03
15030.15
NOTE: 31 DEPRECIATION AND AMORTIZATION EXPENSES (NET) (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
31.1 Depreciation on Fixed
Assets
31.1.1 Amortisation of Lease Hold
Land 77.1107 1.32
1.32
31.1.2 Depreciation on Buildings 77.1206+
77.1207 253.10
226.28
31.1.3 Depreciation on Hydraulic
Works 77.1307 11.70
9.50
31.1.4 Depreciation on Civil works 77.1406+
77.1407 2.89
2.38
31.1.5 Depreciation on Plant and
Machinery
77.1504+
77.1506+
77.1507
3604.47
2919.36
31.1.6 Depreciation on lines,cable,
network etc., 77.1607 10571.48
8459.66
31.1.7 Depreciation on Vehicles 77.1707 8.41
9.12
31.1.8 Depreciation on furniture,
fixtures 77.1807 27.48
19.27
31.1.9 Depreciation on Office
equipments 77.1907 71.04
38.77
31.1.10 Depreciation on intangible
Asset-Software
77.1917+
77.1918 205.17
0.00
Total
14757.07
11685.65
31.2 Depreciation on Released
Assets
31.2.1
Depreciation on Released
Good Asset- Plant and
Machinery
77.1517 0.00
57.71
31.2.2 Depreciation on Released
Good Asset- lines, Cable, 77.1617 0.00
2.46
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NOTE: 31 DEPRECIATION AND AMORTIZATION EXPENSES (NET) (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3.2016
network etc
Sub-Total
0.00
60.18
Depreciation (Net)
14757.07
11745.83
31.3 The revised rate of Depreciation stated in Annexure-1 as per notification by
CERC vide Notification No.L-7/145 (160)/2008- CERC dated 19th January 2009
has been adopted with effect from 01.04.2009.
31.4 Depreciation is calculated annually based on straigt line method over the useful
life of the asset under historical cost.
31.5 Depreciation on all assets is provided up to 90% of the original cost. Residual
value of 10% is maintained in the books except for intangible assets 100%
Depreciation is charged.
31.6 Plant and Machinery costing `500/- or less individually are written off fully in the
year in which they are installed and put to use.
31.7 Depreciation is charged from the first year of operation. In case of operation of the
assets for part of the year, depreciation is charged on Prorata basis.
31.8 In respect of released assets depreciation is charged up to the date of dismantling
and not for the whole year as was done in the earlier years.
31.9 Rates of Depreciation are not in conformity with the rates prescribed in
Schedule II, of the Company’s Act 2013, but followed the CERC Regulations.
NOTE: 32 OTHER EXPENSES (` In lakhs)
Sl.
No Particulars
Account
Code As at 31.3.2017 As at 31.3.2016
32.1 Repairs
32.1.1 Plant and Machinery 74.1 Series 2585.82 2234.08
32.1.2 Buildings 74.2 " 223.15
117.70
32.1.3 Civil Works 74.3 " 173.94
134.63
32.1.4 Lines, Cables Net Work Etc., 74.5 " 1275.76
1418.37
32.1.5 Vehicles 74.6 " 15.28
14.68
32.1.6 Furnitures and Fixtures 74.7 " 0.04
0.00
32.1.7 Office Equipments 74.8 " 2.85
4.94
Sub-Total
4276.83
3924.40
32.2 A & G Expenses
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NOTE: 32 OTHER EXPENSES (` In lakhs)
Sl.
No Particulars
Account
Code As at 31.3.2017 As at 31.3.2016
32.2.1 Rent, Rates & Taxes 76.1017 &
76.1027 161.67
170.50
32.2.2
Service tax-payment to Central
Excise Customs and Service
Tax Department
76.1087 84.03
100.68
32.2.3
Pagers cellular phones E-mail,
Telephone, Trunk call,
Telegrams and Telex Charges
76.1117 &
76.1127
76.1177
213.13
137.44
32.2.4 Postage 76.1137 &
76.1147 11.37
12.35
32.2.5 Revenue Receipt Stamps
/Computer billing
76.1157+
76.1167 1029.02
631.87
32.2.6 Legal Charges 76.1217 37.81
15.29
32.2.7
Audit Fee includes
Statutory Audit fees `4,25,000
and Tax Audit Fee `1,25,000/-
76.1227 7.78
5.73
32.2.8 Consultancy Charges 76.1237 15.01
36.95
32.2.9 Other Professional Charges 76.1257 to
76.1307 3620.33
2027.34
32.2.10 Conveyance & Travel
expenses
76.1317 to
76.1397+
76.1327
1114.88
965.69
Sub-Total
6295.02
4103.83
32.3 OTHER EXPENSES
32.3.1 Fees & Subscriprtion 76.1517&
76.1507 126.61
104.52
32.3.2 Books periodicals and dairies 76.1527 13.39
24.24
32.3.3 Printing & Stationery 76.1537 109.50
100.11
32.3.4 Factory License Fees 76.1547 -
-
32.3.5 Advertisement Expenses 76.1557 23.44
61.00
32.3.6 Computer stationary and
floppies 76.1567 15.91
10.30
32.3.7 Contributions 76.1577 8.09
81.44
32.3.8 Electricity Charges 76.1587 107.61
97.31
32.3.9 Administrative and General
Expenses related to KPTCL / 76.1597 15.55
99.15
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NOTE: 32 OTHER EXPENSES (` In lakhs)
Sl.
No Particulars
Account
Code As at 31.3.2017 As at 31.3.2016
ESCOMS Pension & Gratuity
Trust
32.3.10 Water Charges 76.1607 2.53
14.80
32.3.11 Expenditure related to EESL
for energy savings 76.1657 306.60
292.69
32.3.12 Expenses towards consumer
relation / education 76.1707 12.99
7.43
32.3.13 Entertainment, secret service
grant
76.1627+
76.1837+
76.1647
0.00
0.00
32.3.14 Maintenance Charges of
DTLMS 76.1717 0.00
0.00
32.3.15 Revenue Expenditure incurred
on Software 76.1917 96.03
0.00
32.3.16 Transaction charges paid to
revenue collecting agencies 76.1957 0.00
6.38
32.3.17
Transaction charges paid to
revenue collecting agency
(Mobile one)
76.1967 17.57
9.96
32.3.18 Miscellaneous expenses 76.1907+
76.7627 113.73
88.28
32.3.19 Freight & other Material related
expenses
76.2017+
76.2107 to
76.2707
15.70
25.56
32.3.20 Vehicle running expenses
(store) 76.2407 16.97
17.50
32.3.21 Advertisement of Tenders,
Notices & Others 76.2607 30.06
13.59
Sub-Total
1032.29
1054.27
32.4 Other Debits
32.4.1 Assets Decommissioning
Costs 77.5507 76.57
78.21
32.4.2 Small & Low Value items
Written Off 77.6107 0.38
10.96
32.4.3 Losses Relating to Scraped
Assets 77.7 series 168.86
38.84
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NOTE: 32 OTHER EXPENSES (` In lakhs)
Sl.
No Particulars
Account
Code As at 31.3.2017 As at 31.3.2016
32.4.4 Material Cost Variance 79.1107 0.00
0.00
32.4.5 Bad & Doubtful Debts Written
off
79.4107+
79.4207 112.17
63.96
32.4.6
Provision for Bad & Doubtful
Debts provided for dues from
consumers
79.4607 311.05
126.37
32.4.7 Bad & Doubtful Debts Provided
for others 79.4807 189.73
45.93
32.4.8 Miscellaneous losses and
Write offs 79.5 Series 4878.20
114.51
Sub-Total
5736.96
478.79
32.5 Prior Period Expenses/
Losses:
32.5.1 Short Provision for Power
Purchase 83.1007 967.01
269.71
32.5.2 Operating Expenses of
previous years 83.3007 7.13
12.38
32.5.3 Employee costs relating to
previous years 83.5007 123.42
94.61
32.5.4 Depreciation under provided in
previous years 83.6007 1071.98
1124.61
32.5.5
Interest and other Finance
charges relating to previous
years
83.7007+
83.8007 28.29
106.03
32.5.6 Administrative Expenses -
Previous Year 83.8207 134.27
160.33
32.5.7 Materials related expenses -
Previous Year 83.8407 87.57
124.00
32.5.8 Other Expenses relating to
prior periods 83.8507 3645.35
494.43
Sub-Total
6065.03
2386.09
TOTAL
23406.14 11947.37
32.6 Rent recovered from employees is accounted as income. Likewise the HRA paid
to the emloyees is accounted as expenditure. HRA paid to employees is treated as
perquisites to the concerned, while assessing the I.T recoverable from the said
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employees.
32.7 Provision for bad and doubtful debts is made in the accounting Divisions at 4% (as
per para 4.2 of Annexure V of ESAAR, 1985) on the net balance of Sundry Debtors
for sale of power outstanding as at the end of the year till 2009-10.
32.7.1
32.7.2
During 2010-11, Policy has been changed as per specially constituted committee
recommendation, the provision for bad and doubtful debts has been provided in the
following manner.
To treat the quantum of actual arrears outstanding under permanently
disconnected installations under LT1 (BJ installations consuming more than
18 units), LT2, LT3, LT5 and HT tariff, wherever action has been taken under
“Recovery of dues Act”, as the provision for Bad and doubtful of recovery.
32.7.3 Not to consider the dues of IP (irrespective of disconnection), water supply &
streetlight dues as bad and doubtful of recovery.
32.8 Disclosure of transactions with Related parties as required by the
Accounting Standard-18
32.8.1
33.2
In view of paragraph 9 of AS18, no disclosure is required as regards related party
relationships with other state-controlled enterprises and transactions with such
enterprises.
Other disclosures as required under AS-18 refer note No.29.6.4
NOTE: 33 Regulatory Income / Expenses (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
33.1 Regulatory Income
33.1.1
Income on account
of Regulatory Assets
/ Truing up subsidy
61.9187 51798.60
46446.00
TOTAL
51798.60
46446.00
The Company is engaged in operation of Supply of Electricity to the
consumers covered under its jurisdiction. The rates are regulated by the
Honb’le Karnataka Electricity Regulatory Commission (KERC).
As per section 62 of Electricity Act 2003, the CESC is filing tariff application
yearly with Regulatory Commission for determination of tariff. The Regulatory
Commission determines the tariff as per procedures laid in section 64 of
Electricity Act 2003. The Company collects tariff from consumers as approved
in the tariff order issued by the Regulatory Commission.The Honb’le KERC
through its Tariff Orders allow recovery of defeicits in subsequent periods
besides through truing up orders. In this back ground, the Company has
accounted the regulatory asset of ` 517.99 Crs being recognition of ` 638.40
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162
Crs of additional regulatory asset computed towards the provisional gap
expected to be considered by KERC for recovery in subsequent years and
reversal of ` 120.41 Crs created in FY16. Thus the regulatory Assets as on
31.03.2017 is as follows:
Non Current Asset - ` 982.44 Crs (PY ` 344.05 Crs)
Other Current Asset - ` Nil (PY ` 120.41 Crs)
NOTE: 34 TAX EXPENESES (` In lakhs)
Sl.
No Particulars
Account
Code As At 31.3.2017 As At 31.3. 2016
34.1 Tax Expenses
34.1.1 Current Tax 81.1017 669.02
0.00
34.1.2 Deferred Tax 81.1027 1905.56
1497.25
34.1.3 Short Provision for IT 83.8107 0.00
0.00
TOTAL
2574.58
1497.25
34.2
34.2.1
Segment Reporting
34.2. The Corporation operates only in one sector viz., Distribution of Electricity.
Accordingly accounts are compiled for this sector. Hence Segmental reporting is
not applicable to the Corporation. The company neither has more than one
business segment nor more than one geographical segment hence segment
reporting as required under AS-17 is not applicable for the company.
34.3 Amounts due to Small and Medium Enterprises as required under the Micro,
Small & Medium Enterprises Development Act, 2006 are not ascertained in the
absence of ready related information. The company has not received any
confirmations from the registered suppliers as of date, in respect of whom
disclosures are required to be made under the said Act.
34.4 Providing insurance on fixed assets involves huge expenditure and it is not
economical, therefore fixed assets have not been insured.
34.5 Previous year’s figures have been regrouped, reclassified and re-arranged
wherever necessary.
34.6
34.7
Foreign exchange earnings: NIL(PY Nil)
Foreign exchange expenses: NIL(PY Nil)
Value of Imports on CIF basis: NIL
34.8 Earnings per Share
PARTICULARS As at 31.3.2017 As at 31.3.2016
Net Profit / Loss after tax (In lakhs) (A) 2144.37 792.28
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Weighted Average number of shares
outstanding during the year for Basic and
Diluted EPS (B)
508565434.00 326515309.00
Basic and Diluted Earnings per Share
A/B in (`) 0.66 0.24
34.9 Contingent Liabilities:
34.9.1
The KPTCL vide its circular letter.No. FA (A&R)/C (AP&A)/DC (A&C)/
AAO-1/CYS-104/Dt.15.03.2007 has communicated to CESC that to create the
additional fixed cost paid by the KPTCL for supply of power by Thannir Bhavi
Power Corporation Limited (TBPCL) as Regulatory Assets & Liabilities. The
Amount is to be passed on to the consumers through tariff approval from KERC
and the amount collected from the consumers is to be passed on to KPTCL. The
Hon'ble KERC is yet to approve this matter. In view of the above facts, the
company has treated this as contingent and thus not recognized the Regulatory
Assets and Liabilities of ` 51.39 Crore in the books of accounts.
34.9.2
34.9.3
Interest claimed by KPCL on belated payments is under dispute and hence the
same is not provided. As Per KPC the Interest Payable by CESC for the year
2014-15 is ` 20599.38 lakhs and as per CESC amount was ` 13570.19 lakhs.
Further, for FY 15-16 Interest as per KPC is ` 20440.27 lakhs (after accounting
` 683.41 lakhs) and as per CESC the interest is ` 13995.16 lakhs (after
accounting ` 683.41 lakhs) and this interest is treated it as contingent liability.
Since, KPCL has not furnished the final interest figures for the FY17, for the
outstanding dues for current FY 2016-17, interest has been provisionally
accounted as ` 724.75 Lakhs. This is subject to revision upon the receipt of the
final bill from KPCL for FY 2016-17.
PCKL vide letter no. PCKL/A 12/331/2010-11/5289-99 Dated 26.02.2015,
addressed to UPCL has stated that the infirm power payments to UPCL were not
admitted as the same was not considered in the final order of CERC. Hence the
infirm energy charges accounted has been withdrawn from the accounts during
current year. As per PCKL the determination of tariff, including infirm energy
charges of UPCL is still pending in APTEL vide RP No. 19/2015 and Appeal No.
108/2014.
In the light of the above, the infirm energy charges of UPCL, amounting to
` 141360618.00 has been shown as contingent liability.
Further during 2015-16 fixed charges amounting to ` 6,39,16,688/- has not been
admitted by CESC since M/s UPCL has claimed the fixed charges for 342.66 days
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164
34.9.4
34.9.5
Others
34.9.6
instead of 366 days sighting the remaining 23.34 days as force-majeure event.
The admissibility of force-majeure event claimed by UPCL has not been decided
by PCKL. Further pending outcome of any truing up petition filed by UPCL with
CERC, the amount of ` 6,39,16,688/- is kept as contingent liability.
The Hon’ble KERC in its Suo Motto Order’s Dated 31.03.2016 has ordered to
collect ` 3.40 instead of ` 3.70 per unit in respect of M/s Savitha Oil Technologies
Ltd & Avon Cycles Ltd duly taking into considered the date of Commission.
Further, the orders of Hon’ble KERC orders has been challenged by the
Generators before the “Hon’ble APTEL” and stayed the orders of KERC,
Consequent to this the amount involved in ` 1.71 Crs and this amount is treated
as Contingent Liability.
M/s KPCL has preferred a claim of ` 15.91 Crs as supplementary capacity
charges for the period from 2008-09 to 2015-16. The claim materially differs from
the amount determined by the company based on details available at our end and
the same has been communicated to M/s KPCL. Pending clarifications relating to
their working which is required for ascertaining its correctness, the claim raised by
KPCL has not been accounted in FY 2016-17 and treated as contingent Liability.
Claims against Company not acknowledge as debt
Sl.No Particulars No. Amount in `
1 Revenue
(a) Court cases
Up to 1 Year 3 394994.00
1 Year to 3 Year 2 102426.00
More than 3 Years 1 98509.00
Total 6 595929.00
(b) Appeals
Up to 1 Year 15 842865.00
1 Year to 3 Year 2 1759792.00
More than 3 Years 16 3853339.00
Total 33 6455996.00
2 Service Tax
8
4078987.00
Interest 5129867.00
Penalty 3633197.00
3 Legal cases (Other than
12th
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165
34.9.7
revenue cases)
Up to 1 Year 50 9129580.00
1 Year to 3 Year 106 33098583.00
More than 3 Years 79 19883056.00
Total 235 62111219.00
4 Income tax (TDS Default) 4267589.45
Total 86272784.45
Details of specified Bank Notes (SBN) held and transacted during the period
from 8th November, 2016 to 30th December, 2016 is provided in the Table
below:-
Particulars SBNs Other Denomination
notes Total
No’s Amount in ` No’s Amount in ` No’s Amount in `
Closing cash
in hand as
on
08.11.2016
12491.00 7205500.00 18663.00 1946947.00 31154.00 9152447.00
(+) Permitted
receipts -
Receipts
against dues
on Electricity
Consumption
being utility
bill in nature
920036.00 546712400.00 2056882.00 582342045.00 2976918.00 1129054445.00
(-) Permitted
Payments 0.00 0.00 0.00 0.00 0.00 0.00
(-) Amount
deposited in
Banks
932527.00 553917900.00 2019717.00 574058408.00 2952244.00 1127976308.00
Closing cash
in hand as on
30.12.2016
0.00 0.00 55828.00 10230584.00 55828.00 10230584.00
The above data have been complied by the Management and relied upon by the
Auditors.
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Note 35:
SIGNIFICANT ACCOUNTING POLICIES
For the Period ended 31.03.2017
1. Basis for Preparation of financial statements:
The financial statements of the company have been prepared in accordance with
the Generally Accepted Accounting Principles in India (Indian GAAP). The Company
has prepared these financial statements to comply in all material respects with the
accounting principles generally accepted in India, including the Accounting Standards
notified under the Companies Act, 2013. The financial statements have been
prepared on an accrual basis and under the historical cost convention and have been
prepared on the basis of going concern concept and under the historical cost
convention. The accounting policies adopted in the preparation of financial statements
are consistent with those of previous year.
The Company is a distribution licensee under Section 14 of the Electricity Act, 2003.
The provisions of the Electricity Act, 2003 read with the rules made there under
prevails wherever the same are inconsistent with the provisions of the Companies
Act, 2013 in terms of Section 174 of the Electricity Act, 2003. Further, in certain areas
where different accounting treatment has been prescribed under GAAP and Electricity
(Supply) (Annual Accounts) Rules 1985 (ESAAR,1985) for an item of income /
expenditure or Asset / Liability, the accounting treatment prescribed under ESAAR
1985 has been adopted as per Section 174 of the Electricity Act, 2003. Further,
assets and liabilities created under applicable electricity laws continue to be depicted
under appropriate heads in the Balance Sheet.
2. Use of Estimates:
In the preparation of the Financial Statements, the Company has made estimates
and assumptions that affect the reported amounts of assets and liabilities on the date
of the financial statements and the reported amounts of revenues and expenses
during the reported period to conform with the generally accepted accounting
principles. Differences between actual results and estimates are recognized in the
period in which results are known / materialized.
3. FIXED ASSETS:
a) Fixed assets acquired / constructed are valued at actual cost of acquisition /
construction or at standard rate as the case may be, during the current year.
b) Assets transferred by M/s. Karnataka Power Transmission Corporation Ltd, (KPTCL)
at the time of transfer of Assets ` 566.77 Cr have been stated at the cost of transfer
indicated by KPTCL in document.
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c) In respect of Assets shared with KPTCL, the ownership and title vests with KPTCL
and as such, they are not reflected in the books of accounts of the Corporation. But
the share of maintenance expenditure in respect of such assets is charged to Profit &
Loss account and the accounts system was not enabled to monitor the same.
d) Contribution, Grants and Subsidies towards cost of capital assets have not been
reduced from the cost of assets but have been treated as “Capital Reserve”. The
depreciation pertaining to such fixed assets is withdrawn from the grants for
implementing AS-12.
4. DEPRECIATION:
a) The revised rate of Depreciation stated in Annexure-1 as per notification by
CERC vide Notification No.L-7/145 (160)/2008- CERC Dated 19th January 2009
has been adopted with effect from 01.04.2009.
b) Depreciation is calculated annually based on straight-line method over the useful
life of the asset under historical cost.
c) Depreciation on all assets is provided up to 90% of the original cost. Residual
value of 10% is maintained in the books.
d) Plant and Machinery costing ` 500/- or less individually are written off fully in the
year in which they are installed and put to use.
e) Depreciation is charged from the first year of operation. In case of operation of
the assets for part of the year, depreciation is charged on Prorata basis.
f) In respect of released assets depreciation is charged up to the date of
dismantling and not for the whole year as was done in the earlier years.
g) Rates of Depreciation are not in conformity with the rates prescribed in
Schedule II, of the Companies Act 2013, but followed the CERC Regulations.
5. CAPITAL WORKS IN PROGRESS:
a. Materials issued to Capital Works In Progress are valued at standard rate as
per O & M Schedule of rates for the year. O&M Rates are revised annually.
b. Expenses allocable as Capital Expenditure and incurred by Divisions / Circles /
Zones and Administrative Offices are not capitalized, since the costing methods
and procedures are not fully evolved yet.
c. Interest on borrowing cost is capitalized on the specific projects which take
substantial period of time to get ready for intended use.
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168
6. INVENTORY:
Inventories - Stores and Spares are valued at lower of cost determined on
weighted average basis and net realizable value wherever applicable. Net
Realizable value is the estimated selling price less estimated costs necessary
to make sale.
7. RECOGNITION OF REVENUE SURPLUS:
The Corporation follows the method of recognizing the Revenue surplus (Net Profit
after tax) for the year as per CERC guidelines, at a benchmark of 15.5% ROE.
8. RETIREMENT BENEFITS:
a) Pension & Gratuity are provided based on the rates prescribed by ‘KPTCL &
ESCOMs Pension & Gratuity Trusts’. As per ‘KPTCL and ESCOM’s Pension &
Gratuity Trusts’ Order No. KEPGT/KCO123/P7/2015-16/Cys-58 BANGALORE
Dated 23rd FEB-2016. The Monthly Contribution rates towards Pension and
Gratuity are as below.
Employee
Benefit
From To Rate On
Pension 01.04.2013 31.03.2014 32.01% Basic pay +
D.P and DA 01.04.2014 onwards Until further orders 33.02%
Gratuity 01.04.2013 31.03.2014 6.03% Basic pay +
D.P 01.04.2014 onwards Until further orders 6.06%
b) Leave encashment & family benefit fund is provided based on the cash Basis,
payable as per company’s rules.
9. REVENUE RECOGNITION:
a) Revenue from sale of energy is accounted on accrual basis.
b) The sale of energy is as per the tariff fixed by the Karnataka Electricity
Regulatory Commission (KERC).
c) Revenue for the year is also adjusted by estimating un-billed revenue of
previous year and current year.
d) Regulatory asset is recognized in the accounts considering the approved KERC
orders and expected truing up orders / benefits based on similar precedents
confirming certainty of realisability of such asset.
12th
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169
10. PROVISIONS FOR BAD & DOUBTFUL DEBTS:
Provision for bad and doubtful debts is made in the accounting Divisions at 4 %
( as per para 4.2 of Annexure V of ESAAR, 1985) on the net balance of Sundry
Debtors for sale of power outstanding as at the end of the year till FY2009-10.
From 2010-11 Policy has been changed as per specially constituted committee
recommendation, the provision for bad and doubtful debts has been provided in the
following manner.
a. To treat the quantum of actual arrears outstanding under permanently
disconnected installations under LT1 (BJ installations consuming more than
18 units), LT2, LT3, LT5 and HT tariff, wherever action has been taken under
“Recovery of dues Act”, as the provision for Bad and doubtful of recovery.
b. Not to consider the dues of IP (irrespective of disconnection), water supply &
streetlight dues as bad and doubtful of recovery.
11. ACCOUNTING OF GRANTS:
a) Grants received for capital expenditure are included in Capital Reserves.
b) Contributions received from customers for capital expenditure are included in
capital reserve.
c) Other Revenue grants are credited to the Profit & Loss Account.
12. POWER PURCHASE:
a) The Power Purchase cost is initially recognized based on the Government of
Karnataka Order No. EN 131 PSR 2003 Dated 10th May 2005 for accounting the
cost of power based on the billings made by Power Generators Pool allocated to
CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED,
MYSORE by the Government of Karnataka. The variation between the power
allocations by Govt. of Karnataka and the actual power is being reconciled
through energy balancing which is carried out every year and adjustments to the
power purchase cost at KERC approved rate is accounted every year based on
such reconciliation.
b) The KERC in its Tariff Orders determines the transmission charges based on the
installed generation capacity of the state.
13. Borrowing Cost:
Borrowing cost attributable to the acquisition, construction or production of
qualifying assets are added to the cost of those assets up to the date when the
assets are ready for intended use.
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170
14. Earnings per Share:
Basic earnings per share are calculated by dividing the net profit for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period.
For the purpose of calculating diluted earnings per share, the net profit for the
period attributable to equity shareholders and the weighted average number of
shares outstanding during the period are adjusted for the effects of all dilutive
potential equity share if any.
15. Accounting for Taxes on Income:
Tax expense comprises of current and deferred tax, Current income tax is
measured expected to be paid to the tax authorities in accordance with the Income-
tax Act, 1961. Deferred income taxes reflects the net impact of current year timing
differences between taxable income and accounting income for the year and reversal
of timing differences of earlier years.
Deferred tax is measured based on the tax rates and the tax laws enacted or
substantively enacted at the Balance Sheet date. Deferred tax assets and deferred
tax liabilities are offset, if a legally enforceable right exists to set off current tax assets
against current tax liabilities and the deferred tax assets and deferred tax liabilities
relate to the taxes on income levied by same governing taxation laws. Deferred tax
assets are recognized only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such deferred tax
assets can be realised. In situations where the Company has unabsorbed
depreciation or carry forward tax losses, all deferred tax assets are recognised only if
there is virtual certainty supported by convincing evidence that they can be realised
against future taxable profits.
At each Balance Sheet date the Company re-assesses unrecognized deferred
tax asset. The Company recognises all unrecognized deferred tax assets to the
extent that it has become reasonably certain or virtually certain, as the case may be,
that sufficient future taxable income will be available against which such deferred tax
assets can be realized.
Note No. 36 Effect on Accounts:
Pursuant to the observations made by the Comptroller and Auditor General of
India under Sec. 143(6)(a) of the Companies Act 2013 on the accounts of the
company that were approved by the Board of Directors and subject to Statutory Audit
on 11.08.2017, the accounts have been revised with the following impact.
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
171
(` in Lakhs)
Particulars Prior to
AG’s Audit
After
Supplementary
Audit by AG
Increased(+)/
Decreased(-)
Impact on Profit / loss 2144.37 2144.37 0.00
Impact on Reserves and surplus 6395.50 6395.50 0.00
Trade Payables 284975.94 286800.53 1824.60(+)
Total liabilities 291371.44 293196.03 1824.60(+)
Other Non-Current assets 120193.23 122017.83 1824.60(+)
Total Assets 120193.23 122017.83 1824.60(+)
Sd/- Sd/- Sd/-
(A.Shivanna) (K.T. Mahanthappa) (D.Kiran)
Chief Financial Officer Director (T) Managing Director
PLACE: MYSURU
DATE: 21.09.2017
In terms of our report of
even date attached herewith
For Ganesan and Company
Chartered Accountants
Sd/-
(G.HARIGOVIND)
Partner
Membership No 206563
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
172
Revenue Demand
Category 2015-16 2016-17
` in Lakhs % ` in Lakhs %
LT-1 4695.09 1.66 5093.78 1.45
LT-2 37797.23 13.36 44092.46 12.51
LT-3 21456.92 7.58 23574.93 6.69
LT-4 102236.96 36.14 153128.09 43.45
LT-5 8932.38 3.16 9640.00 2.74
WS-LT-6
St.lt 12097.21 4.28 17253.94 4.90
LT-7 1710.18 0.60 2119.28 0.60
HT-1 18986.28 6.71 20406.74 5.79
HT-2 63378.52 22.40 63392.58 17.99
HT Others 2554.33 0.90 3271.48 0.93
Misc 9073.60 3.21 10451.78 2.97
Total 282918.70 100.00 352425.06 100.00
Revenue Collection
Category 2015-16 2016-17
` in Lakhs % ` in Lakhs %
LT-1 3124.10 1.09 3297.09 0.83
LT-2 37497.12 13.04 42943.30 10.86
LT-3 21508.88 7.48 23490.92 5.94
LT-4 102502.35 35.65 153339.19 38.78
LT-5 8976.73 3.12 9525.75 2.41
WS-LT-6
St.lt 13782.41 4.79 50545.00 12.78
LT-7 1754.14 0.61 2255.91 0.57
HT-1 23092.86 8.03 22455.79 5.68
HT-2 63455.47 22.07 62293.53 15.75
HT Others 2693.77 0.94 2941.34 0.74
Misc 9109.44 3.17 22369.12 5.66
Total 287497.28 100.00 395456.94 100.00
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
173
CLOSING BALANCE
Category 2015-16 2016-17
` in Lakhs % ` in Lakhs %
LT-1 2487.45 1.70 4284.14 4.12
LT-2 6610.00 4.53 7759.16 7.46
LT-3 403.33 0.28 487.33 0.47
LT-4 32686.02 22.39 32474.91 31.23
LT-5 566.59 0.39 680.84 0.65
LT-6
WS/St.lt
38924.88 26.67 5633.82 5.42
LT-7 -858.71 -0.59 -995.34 -0.96
HT-1 3668.17 2.51 1619.12 1.56
HT-2 578.83 0.40 2439.31 2.35
HT Others 515.85 0.35 950.04 0.91
TOTAL 85582.41 58.63 55333.33 53.21
Misc 60376.56 41.37 48663.71 46.79
Grand
Total
145958.97 100.00 103997.04 100.00
Collection Efficiency (in %)
Category 2015-16 2016-17
LT-1 66.54 64.73
LT-2 99.21 97.39
LT-3 100.24 99.64
LT-4 100.26 100.14
LT-5 100.50 98.81
WS-LT-6 St.lt 113.93 292.95
LT-7 102.57 106.45
HT-1 121.63 110.04
HT-2 100.12 98.87
HT Others 105.46 89.91
Misc Interest 100.40 214.02
Total 101.62 113.89
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
174
Sales - Mus
Category 2015-16 2016.17
Sales % Sales %
LT-1 102.75 1.90 102.19 1.63
LT-2 897.60 16.61 951.83 15.20
LT-3 259.57 4.80 274.45 4.38
LT-4 2319.58 42.91 3161.70 50.50
LT-5 136.56 2.53 140.59 2.25
LT-6
Ws&Stl.) 262.86 4.86 323.74 5.17
LT-7 12.95 0.24 14.32 0.23
HT 1413.37 26.15 1291.46 20.63
Total 5405.24 100.00 6260.28 100.00
Customer Base
Category
2015-16 2016-17
Installations
In Nos. %
Installations
In Nos. %
LT-1 497094 17.44 496789 16.76
LT-2 1701751 59.71 1775815 59.90
LT-3 214783 7.54 226005 7.62
LT-4 324144 11.37 345783 11.66
LT-5 37238 1.31 38835 1.31
WS-LT-6
St.lt 42547 1.49 45422 1.53
LT-7 30649 1.08 34307 1.16
HT 1833 0.06 1924 0.06
Total 2850039 100 2964880 100
Closing Balance
` in lakhs
Particulars Principal Interest Total
Closing Balance
as on 31.07.2008 33158.00 10478.00 43636.00
Closing Balance
as on 31.03.2017 31126.25 37196.71 68322.97
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
175
Statement showing the details of Capital Work in Progress for FY 2016-17 (Amount in `)
A/c
Head A/C Description
Opening Balance
as on 1.4.2016
Should tally with
MF-2016
CWIP
Incurred
OB+CWIP
Incurred
CWIP
Catogarized
Closing Balance
31.3.2017
Should tally
with MF-2017
14.1407 Lines transformers etc- extension(GP) 16105941.84 35051558.47 51157500.31 33564281.31 17593219.00
14.1437 11KV and below distribution works under
APDP works -402486.00 4019499.00 3617013.00 0.00 3617013.00
14.1438 11KV and below distribution works under
R- APDRP works 662631.00 0.00 662631.00 0.00 662631.00
14.1447 CWIP-RGGVY Works 5725921.00 5997569.00 11723490.00 507086.00 11216404.00
14.1457 R APDRP works 147783444.00 6860034.37 154643478.37 4316591.00 150326887.37
14.1458
CWIP-11KV & below distribution works
under R-APDRP works (IT
Implementation) - Part A
162233277.85 67613967.12 229847244.97 4526918.07 225320326.90
14.1468
CWIP-11KV & below distribution works
under R-APDRP works (System
Improvements)-Part B
377355869.00 670707192.68 1048063061.68 -73658.00 1048136719.68
14.1489 CWIP Incurred under Smart Grid Project 0.00 72933525.00 72933525.00 0.00 72933525.00
14.1506 CWIP - Transmission Lines -
Transformers etc. Improvements (GP) 0.00 116497.00 116497.00 63072.00 53425.00
14.1507 Lines transformers etc improvements-
(GP) 232803447.12 691287879.48 924091326.60 645856466.16 278234860.44
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
176
Statement showing the details of Capital Work in Progress for FY 2016-17 (Amount in `)
A/c
Head A/C Description
Opening Balance
as on 1.4.2016
Should tally with
MF-2016
CWIP
Incurred
OB+CWIP
Incurred
CWIP
Catogarized
Closing Balance
31.3.2017
Should tally
with MF-2017
14.1527 CWIP-Providing 25 kva transformer to IP
sets Under Self Execution Project. 9412581.00 36353204.24 45765785.24 25972681.07 19793104.17
14.1607 Reduction of losses in lines 230958523.75 203950286.95 434908810.70 261824918.41 173083892.29
14.1707 Transformers by similar capacities 86843241.18 577628830.07 664472071.25 574664294.71 89807776.54
14.1717 CWIP - DTLMS 0.00 44185172.00 44185172.00 43318877.00 866295.00
14.1727 CWIP - MMS 0.00 35120000.00 35120000.00 0.00 35120000.00
14.2207 SPA schemes 2518074.48 19147.00 2537221.48 55685.00 2481536.48
14.2507 Nirantara Jyothi Scheme(NJY) 610128566.20 1270081852.33 1880210418.53 1529680009.46 350530409.07
14.3007 Village electrification (GP) 570331.09 0.00 570331.09 0.00 570331.09
14.3207 Power supply to IP sets (GP) 14421797.84 135569671.42 149991469.26 124776535.08 25214934.18
14.3257 IP sets under own your transformer
scheme 464501.87 0.00 464501.87 0.00 464501.87
14.3267 IP sets serviced under OYT scheme
(Un-Authorised) 31016962.74 956713466.58 987730429.32 947350325.30 40380104.02
14.3517 Meter Existing of BJ Installations 172512.00 0.00 172512.00 0.00 172512.00
14.3767 CWIP Draught Relief Works 38308.00 0.00 38308.00 0.00 38308.00
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
177
Statement showing the details of Capital Work in Progress for FY 2016-17 (Amount in `)
A/c
Head A/C Description
Opening Balance
as on 1.4.2016
Should tally with
MF-2016
CWIP
Incurred
OB+CWIP
Incurred
CWIP
Catogarized
Closing Balance
31.3.2017
Should tally
with MF-2017
14.3907
CWIP expenditure incurred under
Integrated Power Development Scheme
(IPDS)
0.00 4083444.00 4083444.00 0.00 4083444.00
14.3917
CWIP expenditure incurred under
Deendayal Upadhyaya Gram Jyothi
Yojana (DDUGJY)
0.00 42923470.00 42923470.00 0.00 42923470.00
14.4007 Service connections 143072854.86 474638277.65 617711132.51 486032906.39 131678226.12
14.4017 Metering of IP sets 1098187.00 64455.00 1162642.00 0.00 1162642.00
14.5027 Buildings 38130928.90 89117794.00 127248722.90 87215882.00 40032840.90
14.7087 Furniture and fixtures 7700.00 4369464.48 4377164.48 4273892.48 103272.00
14.7088 Furniture and fixtures - RAPDRP 920064.00 -22272.00 897792.00 897792.00 0.00
14.8097 Office equipments 13231318.28 34414787.12 47646105.40 45415938.56 2230166.84
14.8098 Office equipments - RAPDRP 2432295.07 371481.58 2803776.65 2803776.65 0.00
14.8107 Tools and tackles 3466613.23 16776251.42 20242864.65 15834094.33 4408770.32
14.8117 Mobile Phones 0.00 990577.00 990577.00 990577.00 0.00
14.9107 CWIP - Survey and Investigation
Expenses on Projects 3475000.00 -3475000.00 0.00 0.00 0.00
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
178
Statement showing the details of Capital Work in Progress for FY 2016-17 (Amount in `)
A/c
Head A/C Description
Opening Balance
as on 1.4.2016
Should tally with
MF-2016
CWIP
Incurred
OB+CWIP
Incurred
CWIP
Catogarized
Closing Balance
31.3.2017
Should tally
with MF-2017
14.9458
Capital Expenditure categorized R-
APDRP-11KV & below Distribution works
(IT implementation Part A
-156426760.87 10418148.20 -146008612.67 62440192.30 -208448804.97
14.9468
Capital Expenditure categorized
R-APDRP-11KV & below Distribution work
(System Improvements -Part B
-309202181.00 -235452989.00 -544655170.00 319398844.68 -864054014.68
14.9489 Capital Expenditure Categorised under
Smart Grid Project. 0.00 0.00 0.00 67343091.00 -67343091.00
14.9917
CWIP expenditure incurred under
Deendayal Upadhyaya Gram Jyothi
Yojana (DDUGJY)
0.00 0.00 0.00 36754527.00 -36754527.00
Total A 1669019465.43 5253427242.16 6922446707.59 5325805596.96 1596641110.63
B = 55.1007 Total 0.00 0.00 0.00 967076050.87 0.00
Grand Total 1669019465.43 5253427242.16 6922446707.59 6292881647.83 1596641110.63
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
179
Statement of Material Stock Account A/c 22.6107
(` in lakhs)
Sl.
No.
A/c
Code Account Head 2016-17 2015-16
A. 22.6107 Opening Stock 6704.53 6515.38
B RECEIPTS
1 22.2107 Material Purchases 7047.67 14157.96
2 22.3607 Material returned by Contractors 22.45 44.90
3 22.3707 Accessories (Other than Main Assets returned
on dismantling of assets) 166.80 123.58
4 22.4107 Material transferred inwards 1815.30 1758.74
5 22.4117 Material received from VVNL 0.00 0.00
6 22.4127 Material received from KPTCL / Other ESCOMS 0.00 3.29
7 22.4607 Material Manufactured inwards 0.00 0.00
8 22.4617 Fabricated materials returned 0.00 0.00
9 22.5107 Material Stock Adj. A/c (Dr.) 4.45 2.53
10 22.7317 Cost of Material & Labour in TPs works 0.00 0.00
TOTAL RECEIPTS 9056.67 16091.00
C OPENING STOCK + RECEIPTS 15761.20 22606.37
D I S S U E S
1 22.3107 Material issued capital 6747.84 10985.30
2 22.3117 Material issued (Imprest) 0.00 0.00
3 22.3207 Material issues (O&M) 2101.82 3006.13
4 22.3407 Material issued to Contractors 81.44 0.00
5 22.3607 Material returned by Contractors 34.97 0.00
6 22.4207 Material transferred outward 1815.34 1757.18
7 22.4217 Material transferred to VVNL 0.00 0.00
8 22.4227 Material transferred to KPTCL / Other ESCOMS 0.87 0.00
9 22.5107 Material Stock adjustment A/c (Cr.) 13.57 0.00
10 22.7607 obsolete materials in stock 0.00 73.66
TOTAL ISSUES 10795.84 15914.94
E 22.6107 CLOSING BALANCE OF STOCK (C-D) 4965.36 6704.53
12th
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Chamundeshwari Electricity Supply Corporation Limited, Mysuru
180
Average Realization Rate From Sale Of Power 2016-17
(Amount in `)
Account Head-LT Category Tariff
Account Code No.of
Consu
mers
Units Sold Average
Realisation
Rate Per
Unit (`)
Opening Revenue
Demand as per
DCB
Add: Net
provision for
Unbilled
Revenue
Less:
Provision for
Withdrawal
of Revenue
Revenue
Demand as
per Accounts
Collection for
the Year 16-17
Closing
Balance Demand
Series
Closing
Balance
Series
Units
(MU)
% of
Units
Sold
balance as on
01.04.2016
BJ/KJ-Tariff subsidy LT-1 61.6267 28.6267 367500 35.19 0.56 6.79 0.00 238952864.46 0.00 0.00 238952864.46 238952864.46 0.00
BJ/KJ LT-1 61.1017 23.1017 129289 66.99 1.07 4.08 266604028.65 269598637.53 4072371.21 60887.00 273610121.74 90001556.41 450212593.98
Dom.Ltg, Non-Dom, Non-Com Ltg &
Govt. Hospital Ltd, Dom Combined
Ltg.(Aeh), Non-Dom, Non-Coml. Comb.
Ltg. & Htg. Motive Power, & Govt.
Hospitals for Handicapped Orphans,
aged & Institute & Pvt. Professional &
Other Pvt.Edu.Inst.
LT-2
a & b
61.1027
61.1037
61.1117
61.1127
23.1027
23.1037
23.1117
23.1127
1775815 951.83 15.20 4.67 810105470.92 4397172969.40 44518945.27 101923.00 4441589991.67 4283173751.69 968521710.89
Comml.Ltg. Heating & Motive Power LT-3 61.1157
61.1167
23.1157
23.1167 226005 274.45 4.384 8.66 124911118.47 2353789158.02 22698464.30 89618.00 2376398004.31 2346021512.64 155287610.14
Irrigation pumpsets, Lift Irrigation
Schemes/ Societies(upto & inclusive of
10HP)
LT-4a 61.1187
61.6277 23.1187 338682 3143.13 50.207 4.87 3774627739.55 15242489264.68 49755961.28 -201706.60 15292446932.56 15244194930.47 3822879741.64
Irrigation pumpsets, Lift Irrigation
Schemes/ Societies(Above 10HP) LT-4b 61.1217 23.1217 195 1.02 0.016 5.56 21439304.21 5765189.97 -131035.24 -13663.00 5647817.73 5783707.49 21303414.45
Private Horticultural Nuirseries, Coffee,
Tea, Coconut & Arecanut Plantations LT-4c
61.1207
61.1287
23.1207
23.1287 6906 17.56 0.281 3.74 102983801.04 64318829.32 802936.56 -636258.10 65758023.98 43849954.77 124891870.25
Industrial, Non-Industrial Htf. & Motive
Power Including Lighting
LT -5 a
to d
61.1297
61.1307
61.1317
61.1337
23.1297
23.1307
23.1317
23.1337
38835 140.59 2.246 6.86 95370644.36 962142407.34 2182708.01 0.00 964325115.35 950585811.58 109109948.13
Water Supply-Sewarage Pumping-
VP/TP & Others LT-6a 61.1407 23.1407 24228 220.22 3.518 4.89 2647798083.63 1059441388.03 16400101.59 0.00 1075841489.61 3356718905.64 366920667.60
Public Lighting- VP/TP & Others LT-6b 61.1417 23.1417 21194 103.51 1.653 6.47 1292391307.55 661979571.36 7536607.75 0.00 669516179.10 1694368017.99 267539468.67
Temporary Power Supply LT-7 61.1457 23.1457 34307 14.32 0.229 14.84 -77324507.85 211756660.48 823670.82 0.00 212580331.31 225469651.55 -90213828.09
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181
Account Head-LT Category Tariff
Account Code No.of
Consu
mers
Units Sold Average
Realisation
Rate Per
Unit (`)
Opening Revenue
Demand as per
DCB
Add: Net
provision for
Unbilled
Revenue
Less:
Provision for
Withdrawal
of Revenue
Revenue
Demand as
per Accounts
Collection for
the Year 16-17
Closing
Balance Demand
Series
Closing
Balance
Series
Units
(MU)
% of
Units
Sold
balance as on
01.04.2016
BRP II arrears recovered from
Permanantly disconnected consumers 61.1527
0.000 0.00 0.00
0.00
0.00
TOTAL OF LT
2962956 4968.82 79.371 5.16 9058906990.52 25467406940.60 148660731.54 -599199.70 25616666871.83 28479120664.69 6196453197.66
Public Water Supply & Sewarage
pumping HT-1 61.2507 23.2507 125 418.24 6.681 4.90 527758417.39 2035432128.92 11973583.70 0.00 2047405712.61 2239079815.63 336084314.38
0.00 0.00 0.00
0.00 0.00 0.00
Industrial, Non-Industrial, Non-
Commercial & Railway Traction HT-2a 61.2557 23.2557 876 634.73 10.139 7.71 564180493.95 4914434052.86 -23442154.97 0.00 4890991897.88 4822760675.80 632411716.03
Commercial HT-2b 61.2507 23.2567 566 117.24 1.873 9.17 86249980.26 1062854638.66 12623196.53 0.00 1075477835.19 1048299475.03 113428340.43
Hospital & Educational Institutions HT-2c 61.2547 23.2837
23.2847 237 48.07 0.768 7.37 37411219.57 351256045.85 3149804.52 0.00 354405850.37 342956158.61 48860911.33
Irrigation & Agricultureal Farms, Private
Horticultural Nurseries, Coffee & Tea &
Arecanut Plantations.
HT-3
a&b 61.2557
23.2607
23.2627 90 66.02 1.055 2.93 62761906.87 195166573.00 -1547452.61 64281.00 193554839.38 159851785.49 96464960.76
Residential Apartments & Hospitals. HT-4 61.2567 23.2807 12 3.73 0.060 6.28 4383334.29 23169291.88 289214.74 0.00 23458506.62 24009421.41 3832419.50
Sundry Debrs for Sale of power- HT-5
Temporary Supply HT-5
61.2837
61.2847 23.2707 18 3.42 0.055 31.95 8670134.24 108141651.81 1283296.30 0.00 109424948.11 109021535.34 9073547.01
TOTAL OF HT
61.2607
61.2627 1924 1291.46 20.629 6.73 1291415486.57 8690454382.98 4329488.19 64281.00 8694719590.17 8745978867.30 1240156209.44
TOTAL OF (LT+HT)
61.2807
2964880 6260.28 100.000 5.48 10350322477.09 34157861323.57 152990219.73 -534918.70 34311386462.00 37225099531.99 7436609407.10
FAC
61.2707 23.2917
39416610.06 38925548.34 4324637.00
43250185.34 45166779.28 37500016.12
Cross Subsidy
0.00 98265250.54 0.00 0.00 98265250.54 98265250.54 0.00
Misc. Receipts From Consumer (Other
than Interest) 0.00 150753141.58 0.00 0.00 150753141.58 150753141.58 0.00
Less: Provision for Withdrawal of
revenue Demand 61.2917 23.8
15797455.51 0.00 0.00 2017935.84 -2017935.84 0.00 13779519.67
Less: Provision for Doubtful Dues from
Consumers 23.9
569461361.20 0.00 0.00 323123220.48 -323123220.48 0.00 246338140.72
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
182
Account Head-LT Category Tariff
Account Code No.of
Consu
mers
Units Sold Average
Realisation
Rate Per
Unit (`)
Opening Revenue
Demand as per
DCB
Add: Net
provision for
Unbilled
Revenue
Less:
Provision for
Withdrawal
of Revenue
Revenue
Demand as
per Accounts
Collection for
the Year 16-17
Closing
Balance Demand
Series
Closing
Balance
Series
Units
(MU)
% of
Units
Sold
balance as on
01.04.2016
Subsidy receivable from GOK towards
BJ/KJ waiver amount and additional
subsidy & Additional Tariff Subsidy
amount receivable from GOK (126.69
Crs)
61.2507 28.6257
1287488395.79 0.00 906900000.00 0.00 906900000.00 0.00 2194388395.79
Subsidy receivable from GOK towards
BJ/KJ 61.2547 28.6267
0.00 238952864.46 0.00 0.00 238952864.46 213900000.00 25052864.46
Subsidy receivable from State Govt.
towards free supply of power to IP Sets
upto 10HP
61.2557 28.6277
543988826.10 15244382114.97 0.00 0.00 15244382114.97 12755500000.00 3032870941.07
LT+HT+MISC
61.2567
2964880 6260.28 100.000 5.48 10389739087.15 34445805264.03 157314856.73 -534918.70 34603655039.46 37519284703.38 7474109423.23
Misc. Receipts From Consumer
(Interest)
61.2607
61.2627 23.7007
5968045593.35 398340053.33 0.00 0.00 398340053.33 2441826489.48 3924559157.20
Sundry Debtors for electricity Tax
46.3007 23.3017
23.3027 431111874.52 1194507611.02 0.00 0.00 1194507611.02 1160423502.56 465195982.99
12th
Annual Report 2016-17
Chamundeshwari Electricity Supply Corporation Limited, Mysuru
183
IP-Set & BJ/KJ Subsidy Statement for 2016-17
` In Lakhs
Sl.
No. Particulars
No. of Installations Consumption (In Mu) Opening
Balance
(As on
01.04.2016)
Demand Subsidy
Released
by GoK for
2016-17
Closing
balance
as on
31.03.2017
Metered Un -
Metered Total Metered
Un -
Metered Total Metered
Un -
Metered Total
1 IP-Set ( Upto 10 HP) 13074 322816 335890 70.96 3072.17 3143.13 5439.89 3429.42 149014.40 152443.82 127555.00 30328.71
2 BJ/KJ ( UP to 18 units
PM) 343172 0.00 343172 35.19 0.00 35.19 0.00 2389.53 0.00 2389.53 2139.00 250.53
3 BJ/KJ waiver subsidy 205.88
205.88
4
Gap to be paid by GOK
for FY 2012-13 as per
KERC truing -up Order
12669.00 12669.00
5
Additional Subsidy to be
received as per
Government order No.En
67 PSR 2017 Bangalore
Dated 31.07.2017
9069.00 9069.00
Total 356246 322816 679062 106.15 3072.17 3178.32 27383.77 5818.95 149014.40 154833.35 129694.00 52523.12
Note:- In addition to the above, the amount of ` 1862.73 lakhs refunded in respect of IP set payment made by farmers from 01.04.2001 to 31.03.2003 is
yet to be receivable from GoK
Govt. Press, Vikasa Soudha Unit, Bengaluru. W.D. 173 / P5
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