A N N U A L R E P O R T 2 0 1 0 – 2 0 1 1 .. Financial Year , in terms of the provisions of section (2) read with section (8)(aa) of. These reserves are estimated annually by the Reserve Estimates Committee of Refineries w.e.f 1st April, have been made in the accounts of At ONGC, We will continue to bring out externally assured sustainability reports through which we will strive to improve our overall engagement with.
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Notes to Financial Statements for the year ended 31st March, Tax deducted at source Interest on delayed realization from customers f. Quantitative Details of Sales Revenue.
An impairment loss is recognized, whenever the carrying amount of such assets exceeds the recoverable amount. The recoverable amount is its ‘value in use’ or ‘net selling price’ if determinable whichever is higher.
Necessary adjustments would be carried out in the accounts on receipt of the expenditure statement. Other Non Current Assets.
ONGC – Annual Reports
The amounts paid toward initial payment and signature bonus aggregating to Rs4, The lease commitments are carried under liabilities exclusive of interest. Company has issued total 4, In subsequent legal proceedings, The Appellate Authority of the Honourable Malaysian High Court of Kuala Lumpur had set aside the decision of the Malaysian High Court and the earlier decision of arbitral tribunal in favour of operator was restored, against which the GoI has preferred an lf before the Federal Court of Malaysia.
Previous Year Rs 2, For practical reasons, the average exchange rate of the relevant month is taken for the transactions of the month in respect of joint venture operations, where actual date of transaction is not available. Further interest remaining due and payable even in the succeeding years, until such date when the interest.
ONGC- Sustainability Reports
Erport from Surplus Account 4, Balance outstanding as on 31st March is Cash and Cash equivalents as at 31st March, excludes Due to the shifting process the operator has not been able to provide the monthly expenditure statement for the month of February and March The discount rate is based upon the market yield available on Government bonds at the Accounting date with a term that matches.
Provision made till 31st March, is 3, Deferred Government Grant Note The above acquisition has resulted in a Capital Reserve of Each holder of equity shares is entitled to one vote per share.
Transfer to General Reserve — 2, The outstanding guarantee obligation of the company was 3, Provision is made for any diminution, other than temporary, in the value of such investments. Deposit under Site Restoration Fund Scheme: Lf recovery is towards certain observations raised by the auditors appointed by the Director General of Hydrocarbons DGH under Production Sharing Contract PSC for the period to in respect of cost and profit petroleum share payable to GoI.
Each holder of equity shares is entitled to one vote per share.
Foreign Exchange Translation Reserve Note 5. The Company is confident that OCL will be able to honour its obligations. The lease contract contains priced termination options for each of the 15 years and priced extension options for the 4 years following the initial year term.
The total investment commitment is estimated at USD 1, million Rs 68, The lease period commenced from the date of handing over of the pipeline system and pf continue till all payments by GOS are completed. Production, Transportation, Selling and Distribution Expenditure.
The Company is not a party to the dispute but has agreed to abide by the annuual applicable to the operator. Actuarial Liability in excess of respective plan assets is recognized during the year. The Company has not advanced any money to its employees for the purposes of investment in the securities of the Company. Bose iv Shri D.
Sustainability Reports
Other Long term Liabilities. Borrowing Costs Borrowing Cost specifically identified to the acquisition or construction of qualifying assets is capitalized as part of such assets.
As at 31 st March, Transfer to Producing Properties 42, Sulphur is valued at net realisable value.