By Himanshu V. Kishnadwala
Chartered Accountant
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NHPC Ltd. (31-3-2011)
From Notes to Accounts
33. Subsequent to the approval of accounts for the year ended 31st March, 2011 by the Board of directors on 27th May, 2011, the members of the Board has recommended dividend @ Rs.0.60 per share [subject to rounding off to nearest Rupee in terms of Rule 23 of Companies (Central Government’s) General Rules & Forms, 1956] on the paid-up equity capital of the Company (as per Balance Sheet as at 31st March 2011) for the year ended as at 31st March 2011 in the meeting held on 30-6-2011. Accordingly the Company has reopened and revised its earlier finalised audited account for the year ended 31st March 2011 and a provision for dividend amounting to Rs.738.04 crore (subject to rounding off) @ 6% on the paid up equity capital amounting to Rs.12300.74 crore (divided into 1230,07,42,773 equity shares of Rs.10 each fully paid-up) and dividend distribution tax thereon, has been made.
From Auditors Report
1. We have audited the attached revised Balance Sheet of M/s. NHPC Limited as at March 31, 2011 and the revised Profit & Loss account, revised Statement of expenditure during construction and revised Cash Flow Statement of the Company for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
2. Reference is invited to Auditors’ Report dated 27-5-2011 given by us on the Financial Statements of NHPC Limited for the financial year ended as at 31-3-2011.
3. The Company has amended its aforesaid financial statements covered by the abovereferred Auditor’s Report so as to incorporate the provision for dividend and dividend distribution tax thereon in the books, which has been recommended by the Board of NHPC Limited. Accordingly, the Balance Sheet as at 31-3-2011 and Profit & Loss Account for the period ended on even date, audited by us (covered by our above-referred Auditors Report) has been amended by the Company (refer Note No. 33 of Schedule 24).
