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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Provisions are made for obsolete and non moving inventories. Previous year figures have been regrouped wherever necessary to conform to current year’s classification. The Company had made a provision towards the claim made by the GoI in earlier years and the amount of provision outstanding as on 31st March, is Rs 8, Earnings per Equity Share.
Due to the shifting process the operator has not been able to provide the monthly expenditure statement for the month of February and March Production includes internal consumption and intermediary losses.
ONGC – Annual Reports
In view of the perceived uncertainties in obtaining the refund at this stage, the provision made in the books as above has been retained and netted off against the amount recoverable as above in the financial statements for the year ended 31st March, Advance payment of Wealth tax Out of this Rs In view of the perceived uncertainties in obtaining the refund at this stage, the provision made in the books as above has been retained and netted off against the amount recoverable as above in the financial statements for the year ended 31st March, Long-Term Loans and Advances.
The distribution will be in proportion to the number of equity shares held by the shareholders.
Previous Year Rs 2, Debenture Redemption Reserve note no. Pending final decision on the DOC by the MC, as a matter of abundant caution, the Company has made a provision of 9, 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 ogc.
Repot Liability in excess of respective plan assets is recognized during the year. GoI had recovered the above amount [including interest thereon USD These have been organized into the following main geographical and business segments: Disclosure on Foreign currency exposures at year end that have not been hedged by repotr instrument or otherwise are given below: 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.
ONGC- Sustainability Reports
Other Non Current Assets. Insurance claims The company accounts for insurance amnual as under: Interest on delayed realization from customers f. Sarraf up to Bonus Share issued — In view of the above, currently petroleum operations in the Block have been limited to the maintenance of the facilities to ensure integrity for timely resumption of production operation.
Deposit under Site Restoration Fund Scheme: Cash and Cash equivalents as at 31st March, excludes Foreign Exchange Transactions q.
ONGC can call these loans on notice of 90 days. All other claims and provisions are booked on the merits of each case. Movement in Provisions Others For Court cases, arbitration and others, where the timing of expected outflows is upon settlement of the anbual These assets are capitalised and recognised in the balance sheet of BC as from the date the lease contract is concluded, at the lower of the fair value ogc the asset and the discounted value of the minimum lease instalments.
Previous Year Rs nil.
Cost relating to dismantling, abandoning and restoring its allied facilities are accounted for in the year in which such costs are incurred as the salvage value is expected to take care of the abandonment costs. Such costs are capitalized by transferring to Producing Property when it is ready to commence commercial production. The distribution will be in proportion to the number of equity shares held by the shareholders.
Such expenses relating to Headquarter are charged to statement of profit and loss. Capital Reserve Note 5. Company has issued total 4, Out of this The above acquisition has resulted in a Capital Reserve of Share of Profit – Minority Interest 2, Provision for Non-Moving Items Loan to MRPL comprises two loans: