SRN Associates 4 Chartered Accountants, SRN Towers, 200%, "Cross Street, Sengunthdpuram, Karur ~ 639002, Khicha & Prabhu Kesavan Chartered Accountants, No.530, Vysial Street, 2nd Floor, ‘Above Syndicate Bank, Coimbatore — 600 O10. G Balu Associates LLP Chartered Accountants, No.125, Jani Buildings, Royapettah High Road, Mylapore, Chennal-€00 068. M.Thomas & Co., Chartered Accountants, No.14 Visuvasaput Stret, Gnanaalivapuram, Madural -625 016, TAMIL NADU GENERATION AND DISTRIBUTION CORPORATION LIMITED INDEPENDENT AUDITOR’S REPORT To the Members of Tamil Nadu Generation and Distrib ion Company Limited Report on the Audit of the Standalone Financial Statements Adverse Opinion: We have audited the accompanying standalone financial statements of TAMMLNADU GENERATION AND DISTRIBUTION COMPANY Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2020, the Statement of Profit and Loss, the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date, and notes to standalone financial statements, including a summary of the significant accounting policies and other explanatory information (hereinafter referred to as “the standalone financial statements"). iit our opinion and to the best of our information and according to the explanations given to us, because of te significance of matter discussed in the Basis of Adverse Opinion section of our report, the aforesaid standalone financial sintements do not give a true and fair view in conformity with accounting principles generally accepted in India and also do not give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and are not in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Stardards) Rides, 2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of aftirs of the Company as at March, 31, 2020, the loss and its cash flows for the year ended on that date,SRN Associa! 33 8 Chartered Accountants, 2 Towers, 208, ‘Cross Street, Sengun: af uram, Kerur- 638.002, Khicha & Prat hu Kesavan Chartered Accountants | 2.9, Wysial Staal, 2nd Floor, ‘Above Syndicate Bank, inibatore - 600010. Basis for Adverse pinion: G Balu Associates LLP Chanter Accountants, No.123, Jammi Buildings, Royspetah High Rose, Mylapore, Chenna-600 004, M.Thomas & Co., Chartered Accountants, No.{é Visuvesapuri 4* Street, Gnanaclivupuram, Madural 625 016, Deviations from] escribed Accounting Standards, Conventions and Principles: 1. The Indian 4:counting Standards (Ind AS) are applicable to the company. TANGEDC } has not maintained its books of accounts as per the Indian Accounting statements Standards and not prepared the accompanying, financial Laccordance with Ind AS prescribed under Section 133 of the Act, 2013. The ¢ niequential mention of Accounting Standards in the Significant Accounting %olicies and Notes on Accounts also contravenes the said section 133. 2. The valuati- n of Inventories other than coal is not in accordance with AS-2 (Refer SAP c.2) 3. The write ‘ack of excess provision of preceding y:ax/s amounting to Rs,1094.13 ( -ores have been treated as Prior period Income (Refer SAP No.4) 4. TANGEDC: | has not reconciled and impacted its books of accounts for the differences | stween the value of Security Deposits as per Billing Software and books of acc wunts. 5. TANGEDC: ‘s books of accounts are not reconciled/ma:ched to the reported values of ” smnover/Input Tax Credit availed under the GST Act. The quantum is. o: ascertainable as also the corresponding liability if any. 6 The collecti ms from consumers through online payinent gateways are deposited i to designated bank accounts, ‘The desigrated bank accounts report an e e3s collection of Rs.2.34 Crores over the collections zeported by the online p: rtal of the company. 7. (a) TANGE CO collects moneys from its consumers against cost of infrastructu: and other works done on behalf of she consumers, Such moneys ate nutially credited to Deposit Account and on completion of the works, tran utributions in an independent entity. The Company has not provided a uity payable to its employees after getting Actuarial Valuation, 13. The capital ation of borrowing cost to the tune of Rs.1382.41 Crores is not in accordance wth the measurement principles contained in AS-16 (Refer Note No.12) Sinc te borrowings are not related to qualifying assets created 14 {a) TANGE ‘CO has not reconciled its books balances with those of TNEB Ltd and TANT. ANSCO. There are material differences as between the books of both the en’ ties and TANGEDCO as observed from a perusal of the available account sta’ ments of other entities. (&) Other Icte No. 6 an amount of Rs119.92 crores (Debit) are the unreconcile. difference in balances of various inter-vnit accounts that are shown unde Current Liabilities. 15, Amounts @ vanced to a State Public Sector Undertaking, Poompuhar Shipping Co poration has not been confirmed by the said PSU. 16. AS-21 isnot o.nplied with ‘17. The assets ar not shown in carrying cost as per AS -23 & AS-27 18 TANGEDCC as not assessed and therefore has not factored in the accompanyb 3 financial statements the impairment of its Property, Plant & Equipment « «i Other Financial Assets including investments in Subsidiaries and Joint Ve: ures. 19.The compan is not maintaining a list of vendors whe are categorised as MOME and r_ystered under MSMED Act, 2005. Consequently, the provisions CEMSMED / 1 is not applied to any of the transactions including settlement of dues wir in the time limits prescribed under that Act and also peyment/ pre: ision ofrig SRN Associates G Balu Associates LLP Chartered Accountants, SAN Towers, 2081, ‘Chastered Accountants, No.123, Jami Buildings, 4" Cross Street, Seagunthapucam, Karur - 638 002. Royapettsh High Road, Mylapore, Chennal-600 004. Khicha & Prabhu Kesavan M.Thomas. & Co., Chartorad Accountants, Mo.530, Vysial Street, 2nd Floor, Chartered Accountants, No.4 Visuvasapuri 4* Street, Above Syndicate Bank, Coimbatore ~ 600910. Gnanaoiivupuram, Madurai - 625 016, of overdue and interest payable are not ascertainable in the absence of adequate date. 20, The Sundry Deblors-Receivables are not classified according to their tenure of outstanding, in accordance with Schedule II of the Companies Act, 2013. Non-Provision of Liabilities /Non-charging to Profit & Loss Account 21. TANGEDCO has neither quantified nor recognised the following liabilities and provided for the same in the accompanying financial statements: i. Gratuity - The quantification of the accrued liability has not been made by thecompany. i, Impact of Frauds and Embezzlements detected in preceding years quantified at Rs.2.66 crores. i, Interest claim of the parties for the delayed settlement of dues towards Power Purchase ~ Surcharge ~ Rs.4745.62 Crores. iv. Water Cess payable to TN Pollution Control Board up to 31.03.2020 Rs.686:39 Crores. 2. Lease rent payable to TN Forest department - Rs.563.48 Crores. vi. Coal Shortage valued at Rs.330.35 crores. vii, Other Note No.1$ Dues from Puducherry Government amounting to Rs 331.59 crores (Net). viii, Other Note No.t7 (b) E-Tax amounting to Rs.98.38 crores. iz, Other Note No.25 - Non-moving / obsolete stores values at Rs.48.37 crores. x. Liability for default in semittance and delayed remittance of Tax Deduction liabilities under the Income Tax Act, 1961 - Rs.9.15 Crores. xi, Other Note No.20, TANGEDCO’ has made claims with NCLT regarding contract awarded to Lanco Infraiech which was terminated due to non- performance. This Company is in the process of winding up and TANGEDCO made its claim to NCLT, Hyderabad Bench for Rs1882.03 crores. NCLTad SRN Associa es G Balu Associates LLP Charter Accountants, 53N Towers, 208, Chartered Accountants, No.123, Jamin Buildings, ‘1 Cross Street, Sengur vepuram, Karur - 639 002. ‘Royapettah High Road, Mylapore, Chennai-600 004. Khicha & Pra shu Kesavan M.Thomas & Co., Chartered Accountants. fo 530, Vysial Street, 2nd Floor, Chartered Accountants, No.44 Visuvasapuri 4" Street, Above Syndicate Bank, ci nbatore - 600 019, Gnanaclivupuram, Mad srai - €25 018. ‘book of accounts, balance of claims has to be provided in the books of accounts by fh Company. xi, ‘TA? SEDCO has to enter into 2 Lease Agreement with its Parent Com >cny TNEB Ltd for use of its land and building at free of cost. xiii, Vari us issues are still pending before CIGAT, Excise Authority and Serv :e Tax Authority the current status of the issues’ has to be revic ved and necessary actions to be taken to resolve the issues. 2. Other Note No.8, The Company has not arrived at Regulatory Assets for the financial ye + 2018-19 and 2019-20 and has not amortized regulatory assets, 23.A) For bot Direct and Indirect tax consultancies professionally qualified firm/s cf 0 wute should be empanelled once in three year, 3) Concurn ut audit assignment should be done for all EDC’s and Generation Circles out of the empanelled professionally qualified firm/s of Chartered Aceeantant ©) Concurr ni: audit assignment should be done for Coal Section, Central Payments ai d Revenue Section in Head Oifice/ Corporate Office. Contravent: 1 of Companies Act: 1. T. NGEDCO has defnulied in Corporate Goverrisnce by not appointing «ar 'ndependentt Director in its Bourd and consequential non-compliance as re: «ds composition of Audit Commitize and CSR Committee 2 1 e- Note No.5 - TANGEDCO has net prevared and annexed a Ch ssnldated: Financial Statement of its accounts with other applicable ent tiss-Udangudi Power Corporation, NTPC Trmiinndu Energy Co spany Led, (NTECL) and NLC Tamtitnadte Power Lid. (NTPL) We conducted our udst of the standalone financial statements in accordance with the Standards on . uditing (GAs) specified under section 143(10) of the Act. Our responsibilities wn. er those Standards are further described in the Auditor's Responsibilities for th Autit of JSRN Associates 83 Balu Associates LLP ‘Chartered Accountants, SRN Towers, 208, Chartered Accountans,No.123, Jame Bullngs, 4" Gross Street, Sengunthapuram, Karur ~ 639 002. Royapetiah High Road, Mylapore, Cherinal-£00 004. Khicha & Prabhu Kesavan M.Thomas & Co., Chartered Accountants, No.530, Vysial Street, 2nd Floor, Chartered Accountants, No.14 Visuvasapuri 4” Street, Above Syndicate Bank, Coimbatore ~ 600 010, Gnanaotivupuram, Madural - 625 016, We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of india (ICAD, together with the independence requirements that are relevant to our audit of the standalone financial statements under the provisions of the Companies Act, 2013, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our adverse opinion, Emphasis of Matter The Company has accumulated loss amounting to Rs.99,860.32 crores. Howener, the accéripanying financial statements have been prepared assuming that the Company will continue as a going concern since the company is carrying on its business operations. Key Audit Matters Except for the matters described in the Basis for Adverse Opinion section we have determined that there are no other key audit matters to communicate in our report. Information Other than the Standalone Financial Statements and Auditor's Report ‘Thereon ‘The Company's Board of Directors is responsible for other inforrhation. The other information comprises the information included in the Management Discussion and Analysis, Board’s Report including Annexure to Board’s Report, . business Responsibility Report, Corporate Governance and Shareholder’s Information, but does not include the Standalone Financial Statements and our Auditor's Report thereon, ur opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.SRN Associe es 8G Balu Associates LLP Chartered Accountants 3FN Towers, 20B/1, ‘Chartered Accountants, No.123, Jammi Buildings, $M Cross Stet, Sergu: ‘epuram, Karur 699 002 Royapettah High Road, Mylapore, Chenna-600 O04. Khicha & Pre shu Kesavan M.Thomas & Co., Chartered Accountants lo 530, Vysial Street, 2ndFloor, Chartered Accountants, ‘No.14 Visuvasapurl 4” Street, ‘Above Syndicate Bagh, sinbalore~ $00 O10. ‘Gnanaotvupuram, Mad ci = 625 018, In connection vita our audit of the standalone financial statements, our ty is & mad the other information and, in doing s0, consider whether the other information s materially inconsistent with the standalone financial statements oF our knowledg obtained in the audit or otherwise appears to be materially misstated. responsi If, based on the "ork we have performed, we conclude thet there is 4 material misstatement of tl s other information; we are required to report that fact. We have nothing to report i this regard, Responsibilities « ' Management and Those Charged with Governance for the Standalone Finan ai Statements The Company's B. ud of Directors is responsible for the matters stated in section 1346) of the Com anies Act, 2013 ("the Act”) with respect to the preparation of these standalone fi aacial statements that give a true and fair view of the financial Position, financial _2rformance, total comprehensive income, changes in equity and cash flows of the « onpany in accordance with the Ind AS and other accounting Principles generally aucepted in India, including the accounting Standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accountit 5 records in accordance with the provisions of the Act for safeguarding of the isscts of the Company and for preventing and detecting frauds and other imegulani es; selection and application of appropriate accounting policies; making judgments irc estimates that are reasonable and prudent; and design, implementation anc: maintenance of adequate internal financial controls, that were operating effectivels for ensuring the accuracy and completeness of the accounting records, televant to the preparation and presentation of the scandlone financial statement that give irue and fair view and are free from material misstatement, whether due to frauc 0° error, In preparing the + andalone financial statements, the Board of Directors is responsible for asse: ing theas SRN Associates G Balu Associates LLP Chartered Accountants, SRN Towors, 208/1, ‘Chartered Accountants, No.123, Jammi Buildings, ‘Cross Steet, Sengunthapuram, Kerur~ 639002. Royapetiah High Road, Myapore, Chennai-609 004. Khicha & Prabhu Kesavan M.Thomas & Co., ‘Chartered Accountants, No.S30, Vysial Street, 2nd Floor, Charred Accountants, No.14 Visuvasapuri 4° Steet, ‘Above Syndicate Bank, Coimbatore ~ 660 010. Gnanaolivupuram, Madurai ~ 625 016. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are responsible for overseeing the Company's financial reporting process. Auditor's Responsibilities for the Audit of the Standalone Financial Statements Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a iwhole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures - responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)i) of the Companies Act, 2023, weSRN Associate 3 & Balu Associates LLP Chartered Accountant, SF) Towers, 20811, Ciiatered Accountants, No.123, Jami Buildings, ‘4 Gross Stroet, Sengurths, ram, Karur ~ 638 002. Royapetiah High Road, Mylapore, Chennai-800 004 Khicha & Prabl u Kesavan M.Thomas & Co., Chartered Accountants, Ne_ Si, Wysial ret, 2nd Flor, Chartered Accountants Ho.14 Vsuvasapur 4" Street, Above Syndicate Bank, Co. bstore 800 010 Gnanzolivapuram, Madura €25 046, whether the compa y has adequate internal financial controls system in place and the operating effecti_eress of such controls. + Evaluate the app: spriateness of accounting policies used and the reasonableness of accounting estim. e3 and related disclosures made by management. * Conclude on the : »propriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists re afed to events or conditions that may cast significant doubt on the Company's abil 7 to continue as a going concern, If we conclude that a material uncertainty exists, v 2 are required to draw attention in our auditor's report to the related disclosures i ihe standalone financial statements or, if such disclosures are inadequate, to modi 7 our opinion. Our conclusions are based on the audit evidence obtained up to the d te of our auditor's report. However, future events or conditions may cause the Comy try to cease to continue as a going concern + Evaluate the overe | sresentation, structure and content of the standalone financial statements, includin, tae disclosures, and whether the financial statements represent the underlying trans ctions and events in a manner that achieves fair presentation. Materiality is the me sr itude of misstatements in the standalone financial statements that, individually or n aggregate, makes it probable that the ecoriomic decisions of a reasonably knowled eable user of the financial statements may be influenced. We consider quantitativ: materiality and qualitative factors in () planning the scope of our audit work and n evaluating the results of our work; and (ii) to evaluate the effect of any identific 1 misstatements in the financial statements. We communicate v. th those charged with governance regacding, among other matters, the plannec s:ope and timing of the audit and significant audit findings, including any signif: ant deficiencies in internal control that we ‘dentify during ourSRN Associates 37 G Balu Associates LLP (Chartered Accountants, SRN Towers, 208M, Ccharterad Accountants, No.123, Jami Buildings, 4 Cross Street, Sengunthapuram, Karur - 639 002. Royapettah High Road, Mylapore, Chennai-600 004, Khicha & Prabhu Kesavan M.Thomas & Co., ‘Chartered Accountants, No.830, Vysial Street, 2nd Floor, Chartered Accountants, No.14 Viswwasapuri 4* Streat,, Above Syndicate Bank, Coimbatore - 600 010. Gnanaolivupuram, Madurai ~ 625 016. We also provide those charged with governance with a statement that we have complied with ‘relevant ethical requirements regarding independence, and to ‘communicate with them all ielationships and other matters that may reasonably be ‘thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor’s Report) Order, 2086 ("the Order”), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give “Annexure B” a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. 2. As required by Section 143(3) of the Act, based on our audit we report that: We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. (a) In our opinion, proper books of account as requized by law have been kept by the Company so far as it appears from our examination of those books. (©) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account. (©) In our opinion, the aforesaid standalone financial statements comply with theSRN Associate 28 G Balu Associates LLP Ccartored Accountant, SR* Towers, 206", CChartared Accountants, No.123, Jammi Buildings, Cross Street, Sengurtha: wn. Karur 639 902, Royapettah High Road, Myizpore, Ghannal-600 008, Khicha & Prabl 1 Kesavan M.Thomas & Co., Chartered Accountants,No. 50 Wysial Stret, 2nd Floor, _Charlered Accountants, No 14 Visuvasapurid* Street, ‘Above Syndicate Back, Coit 2atore 60000 Gnanzolivupuram, Madurai - 625 016, Companies (Accgur s\ Rules, 2014 except those observed abcve in the basis of forming adverse opi ion (@) On the basis of t/ 2 written xepresentations received from the directors as on 31st March, 2020 taken \ n record by the Board of Directors, none of the directors is disqualified as on 3 st March, 2020 from being appointed as a clirector in terms of Section 164 (2) of the zt (e) With respect to he adequacy of the internal financial controls over financial reporting of the Cor pany and the operating effectiveness of such controls, refer to our separate Report n “Annexure A”, Our report expresses @ Modified Opinion on the adequacy and operating effectiveness of the Company's internal financial controls over financi 1. (f) With respect to ot ser matters to be included in the Auditor's Report in accordance with the requiremer + nf section 197(16) of the Act, as amended. In our opinion and - | the best of our information and according to the explanations given tous, the rem aeration paid by the Company to its directors during the year is in accordance with t © provisions of section 197 of the Act. (g) With respect to the other matters to be included in the Auditor's Report in accordance with Rui "1 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the fst of our information and according to the explanations given. tous: i. The Company ha tisclosed the impact of pending litigations on its financial position in its stands: one financial statements ~ Refer Note 13,19, 20 and 36 ii, The Company h 5 not assessed any material foreseeable losses on long-term contracts including _e-ivative contracts and therefore has not made any provision there for, as requsrec’ under the applicable law or accounting standards. ii, There are no am Protection Fund by tSRN Associates Chartered Accountants, SRN Tower, 208), ‘Cross Set, Senguntnapuram, Karur ~639 002. Khicha & Prabhu Kesavan Chartered Accountant, No.53, Yysiat Street, 2nd Floor, Above Syndicate Bank, Coimbatore ~ 600 010, 4G Balu Associates LLP + Chartered Accountants, No.123, Jammi Bulldings, Royapettah High Road, Mylapore, Chennai-600 004, M. Thomas & Co., ‘Chartered Accountants, No.14 Visuvasapurl 4” Street, Gnanaolivupuram, Madurai ~ 625 016, 3. “Annexure C” to this report carries our responses to the directions and sub- directions of the Comptroller & Auditor General of India issued under Section 143(6) of the Companies Act, 2013. FOR SRN ASSOCIATES Chattered Accountants Firm No.0058435, yr a Partner (CA V.R. SRIDHARAN M.No.200586 UDIN: 212003864AAAAA7291 FOR M.THOMAS & CO Chartered Accountants Firm No.0084088 Partner-(CA FRANCIS V)_ M.No.020983, UDIN:21020983AA AAANTIS$ | Xs | Place: Chennai Date:13.01.2021 FOR KITCHA & PRABUKESAVAN Chartered Accountants Finn No.0501085 A ooo Partner-{CA S. MANIVANNAN) M.No.21633, UDIN: 212016334 AAAAB1300 FOR G BALU ASSOCIATES LLP Chartered Accountants Firm No.0003765/5200073 peer RAJA GOPALAN. 5) M.No.217187 UDIN: 21217187AAAAAGB673SRN Associates ® 6 Balu Associates LLP Chartered Accountants, SRNT ors, 20811, Chartered Accountants, No.123, Jammi Buildings, +Cross Street, Sengunthapur m. Karur ~ 639 002. Royspettah High Road, Mylapore, Chennt-820 004. Khicha & Prabhu Kesavan M.Thomas & Co., ‘Chartered Accountants, No.3! Vysial Street, 2nd Floor, Chartered Accountants, No.1 Visuvasapuri £* Strect, ‘Avove Syndicate Bank, Coimt ore ~ 600 010. SGrangolivapuram, Madurai ~€25 016. ANNEXURE A TOT! E INDEPENDENT AUDITORS‘ REPORT (Referred to in pans raph 1) under ‘Report on Other Legal and Regulatory Requirements’ sectior: of our report to the Members of even date Report on the Interne Financial Controls Over Financial Reposting under Clause (i) ‘of Subsection 3 of Sec: on 143 of the Companies Act, 2013("the Act”) We have audited - i internal financial controls over financial reposting of TAMILNADU GEN! RATION and DISTRIBUTION COMPANY LIMITED as of March 31, 2020 in co. junction with our audit of the standalone financial statements of the Company for ‘| ¢ year ended on that date. Management's Resp: nsibility for the Standalone Financial Statements ‘The Company's Boa’ { of Directors is responsible for establishing, and maintaining internal financial ce trols based on the internal control over financial reporting criteria established b- tae Compaay considering the essential com ponents of internal contro] stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting sed by the Institute of Chartered Accountants of India These responsibilities inch i the design, implementation and maintenance of adequate internal financial c¢ ols that were operating effectively for ensuring the orderly and efficient conduc of its business, the safeguarding of its assets, the prevention and detection of frat ds and errors, the accuracy and completeness of the accounting records, and the ts ey preparation of reliable financial inforrvation, as required under the Gompanie Act, 2013. Auditor's Responsil ility Our responsibility § to express an opinion on the internal fixancial controls over on our audit. We conducted our audit inSRN Associates 31 G Balu Associates LLP Chartered Accountants, SRN Towers, 208M, Chartered Accountants, No.123, Jarami Buildings, 4" CrOsé Street, Sengunthapuram, Karur ~ 639 002, Royapetiah High Road, Mytapore, Chennai-600 004, Khicha & Prabhu Kesavan M.Thomas & Co., Chartered Accountants, No.530, Vyslal Street, nd Floor, Chartered Accountants, No.14 Visuvasapuri * Street, Above Syndicate Bank, Coimbatore ~ 690 010, Gnanaolivupuram, Madurai ~ 625 046. accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “the Guidance Note”) issued by the Institute of Chartered Accountants of India (ICAI) and the Standards on Auditing prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with 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 interna! financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of intérnal financial controls over financial reporting assessing 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 auditor's judgement, 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 récords that, in reasonable detail, accurately and fairly xeflect the transactions and dispositions of the assets of the company; (2) provide reasonableSRN Associates CChatored Accountants, SN ‘Cross Steet, Sengunihape Khicha & Prabhu. Chartered Accountants, No.5. Above Syndicate Bank, Coin financial statements 5 and that receipts ar accordance with auth: @) provide reasonat unauthorized acquisit material effect on the ! Inherent Limitations Because of the inhes reporting, including € controls, material m detected. Also, projec financial reporting to controls over financi. conditions, or that th deteriorate. Adverse Opinion In our Opinion, to # given to us, the Comp financial reporting an not operating effectiv financial reporting c1 components of intern Financial Controls O- Accountants of India” 3G Balu Associates LLP vrs, 2081 Chartered Accountants, No 12, an Bung sm, Karur ~ 639 002. Royepettah High Road, Mylapore, Chennai-600 (04, Kesavan M.Thomas & Co., \vysial Street, 2nd Floor, Chartarad Accountants, No 14 Visuvasapuri 4* Street, tor =600018, Gnanastvupuram, Maeva - 28016. accordance with generally accepted accounting principles, 1 expenditure of the company are beirg made only in ‘izations of management and directions o! the company; and e assurance regarding prevention or timely detection of ory use or disposition of the company’s assets that could have nancial statements. f Internal Financial Controls - nt limitations of internél financial controls over financial 2 sossibility of collusion or impropér management override of statements due to error or fraud may occur and not be ons of any evaluation of the internal financial controls over siure periods are subject to the risk thet the internal financial ceporting may become inadequate becavse of changes in degree of compliance with the policies o- procedures may best of our information and according tc the explanations ny does not have an adequate internal financial contzols over such internal financial controls over financial reporting were ly as at March 31, 2020, based on “the internal control over vecia established by the Company considering the essential | controls stated in the Guidance Note on Audit of Internal x Financial Reporting issued by the Institute of CharteredSRN Associates 33 G Balu Associates LLP ‘Chartered Accountants, SRN Towors, 2084, Chartered Accountants, No.123, Jammi Buildings, 1" Cross Street, Sengunthapuram, Karur - 639.002. Royapetiah High Road, Mylapore, Chennal-GO0 004, Khicha & Prabhu Kesavan M.Thomas & Co., Chartered Accountants, No.530, Vysiel Street, 2nd Floor, Chartered | Accountants, No.14 Visuvasapuri 4 Strect, Above Syndicate Bank, Coimbatore - 609.040. Gnanaolivupurama, Madurai - 625016. Basis of Adverse Opinion a) Ineffective supervision over the company’s internal financial controls over financial reporting by those charged with governance. b) The company does not have an internal audit system commensurate with the ‘nature and size of its operations thereby impeding timely detection of errors, defects and frauds. <) The company’s internal control system with regard to its Fixed Assets is deficient in the areas of time of capitalization, cost capitalized and physical verification and consequent identification of losses, damages and impairment. ¢) The company has no data of its investments, their nature, purpose and the health of such investments indicating lack of effective controls. ©) The company does not have any system to translate a transaction into an accounting entry to ensure that the accounting as well as financial reporting is in accordance with generally accepted accounting standards, practices and principles. 1) Material deficiencies have been identified between the reported balances as per books of the company and its group entities, 8) Lack of integration of processes between various functions such as revenue billing, payroll processing, material accounting, coal accounting, online collections with the company’s book-keeping results in human intervention for which the internal controls are deficient and such deficiency is pervasive and persistent. 2) The value of differences as stated in the Basis for Adverse Opinion Section Clause 6 would indicate the depth of deficiency in ternal financial controlSRN Associates Chartered Accountants, SRN ‘4"Cross Steet, Sengunthapt Khicha & Prabht. (Chartered Accountants, No.5 ‘Above Syndicate Bank, Colm: i) The company’s resulting in exe )) There was no systems by the Act, 2013. K) We have not €: units 1) We have not liabilities for pe m) As per Sectio: Companies (A qualified perso Company. 1) As per Section appoint a full ‘Company. Material weakness’ i financial control over that a material missta be prevented or detect In our opinion, becau: above on the achie ‘Company has not mai financial reporting as We have considered determining the natur standalone financial st. weakness/es have atfe G Balu Associates LLP ‘Charteraé Accountants, Ne.123, Jami Buitings, Royapattah High Road, Mylapore, Chennal-600 004. Kesavan M.Thomas & Co., : Wysial Steet, 2nd Flor, Chartered Accountants, No-14 Viswvasapult &* Steet, tere —600010, Gnanaolivupuram, Madurai ~ 625018, supervision and control over the online collections is deficient + collections reported by banks. valuation of internal financial controls and risk management sempany as required by section 177(4) (vii) of the Companies 1 provided with balance confirmation frem Co-Generation zen provided with balance confirmation from Creditors or iments. {38 of the Companies Act, 2013 read with Rule 13 of counts) Rules, 2014 the company is requized to appoint al es an Internal Auditor to conduct the Internal Audit of the 103 of the Companies Act, 2013 the Company is required to time Company Secretary which is not complied by the @ deficiency, or a combination of deficiencies, in internal irancial reporting, stich that there is a reesonable possibility srtent of the company’s annual financial statements will not dona timely basis. of the collective effect of the material wea‘cnesses described ement of the objectives of the control criteria, the teined adequate and effective internal finarcial controls over March 31, 2020, he material weaknesses identified and reported above in timing, and extent of audit tests applied in cur audit of the cements of the Company as at March 31, 2020. These material i f the eer eatSRN Associates 28 G Balu Associates LLP ‘Chartered Accountants, SRN Towers, 208/1, Chartered Accountants, No.123, Jammi Buildings, Cross Steet, Sengunthapuram, Karur 639062, Royapetah High Road, Mylapore, Chenna-£00 004, Khicha & Prabhu Kesavan M.Thomas & Co., ‘Chartered Accountants, No.530, Vysial Street, 2nd Floor, Chartered Accountants, No.t4 Visuvasapuri 4° Street, ‘Above Syicate Bank, Coimbatore ~ 600 010. Gnanaolivupuram, Madurai ~ 625 016, Company and we have issued an adverse opinion on the standalone financial statements. FOR SRN ASSOCIATES. FOR KITCHA & PRABU KESAVAN Chartered Accountants Chartered Accountants Firm No.0058438, Firm No.050108S u Gopor” 4 ace Partner -(CA V.R. SRIDHARAN), M.No, 200386 UDIN: 21200386AAAAAA7291 FOR M.THOMAS & CO FOR G BALU ASSOCIATES LLP Chartered Accountants Chartered Accountants Firm No.0044085 Firm No.0003765/5200073 Partner{CA FRANCIS V) M.No.020983 M.No.217187 UDIN: 21217187AAAAAGRG73 Place: Chennai Date:13.01.2021SRN Associates ‘Chartered Accountants, SRN Cross Straet, Sangunthag, Khicha & Prabh Chartered Accountants, No.5 Above Syrdicate Bank, Coim ANNEXURE B TOT Referred to in par Requirements’ sectior ‘Tamilnadu Generatic La) The Compan; quantitative det ») As per info verification offi ) The Compan properties whic immovable prop ils absolute poss H. The company ce including coal ¢ ‘out in books ane: I, In respect of I register maint: to the explans secured or un other parties Companies A applicable. TV. Inour opinion the company 1 Act, in respect 3 G Balu Associates LLP overs, 208, ‘Chartered Accountants, No.123, Jame! Buildings, ary, Kanur ~ 639 092, Royapetiah High Road, Hylapore, Chennal-600 004, Kesavan M.Thomas & Co., 4: iysiel Suet, 2nd Floor, Chartered Accountants, No. 14 Vswvasapur 4 Siret, ore ~ 600 040. : Gnanaolivupuram, Madurai - 625 016. US INDEPENDENT AUDITORS’ REPORT yaph 2 under ‘Report on Other Legal and Regulatory of independent Audit Report of even date to the Members of é Distribution Corporation Limited is not maintaining proper records showing full particulars including 1s and situation of all its Fived Assets uation furnished, during the year under awit, proper physical +4 assets of the Company has not been curried cx.t. is unable to produce documents of Tille for some of its immoonble are carried as Fixed Assets in its books, It is informed that alt ‘ies that are carried as Fixed Assets in the boo's of accounts are itt ssion and enjoyment. rizs out physical verification of stocks of inventories of raw material annual basis, The impact of such physical verification is not carried ‘nansacted afler proper investigation into the reason for variance. ans, secured or unsecured, granted to the parties covered in nad under section 189 of the Companies Act, 2013: According ions given to us, the company has not granted any loans, cured to companies, firms, Limited Liabilty Parmerships or rvered in the register maintained under Section 189 of the , 2013; and therefore paragraph 3(iii) of the Order is not ind according to the information and explanations given to us, \s complied with the provisions of section 185 and 186 of the £ loans, Investments, guarantees and security made.SRN Associates 7G Balu Associates LLP ‘Chartered Accountants, SRN Towers, 208, Chartered Accountants, Mo.123, Jami Buildings, ‘1 Cross Street, Sengunthapuram, Karur ~639 002. Royapettah High Road, Mylapore, Chennal-600 004, Khicha & Prabhu Kesavan M.Thomas & Co., ‘Chatorod Accountants, No.530, Wysial Street, 2nd Floor, Chartered Accountant, No.14 Visuvasapurt 4 Steet, Above Syntileate Bank, Coimbatore ~ 600 010. ‘Gnanzolivupuram, Madurai - 625 016. V. In our opinion and according to the information and explanations given to us, Vi. the company has not accepted, raised or renewed any deposits from the public; and therefore paragraph 3(v) of the Order is not applicable. We have broadly reviewed the cost records maintained by the company specified by the Central Government under sub section (1) of the section 148 of the Companies Act, 2013, in respect of the company and we ate of the opinion that prima facie the prescribed records have been made and maintained. a) According to the information and explanations given to us and as per records of the company, the company is generally regular in depositing with appropriate authorities undisputed statutory dues including income-tax and other statutory dues applicable to it with the appropriate authorities except: ALE-Tax admitted as a liability by the Company to the extent of Rs.93.38 Crores. © B. There is an undisputed demand of Rs.9.15Crores towards non-remittance/ delayed remittance of TDS under Income Tax Act, 1961 and consequential Interest, Fees and Penalty, C. Details of disputed Income Tax and other statutory dues pertaining to the ‘Company and erstwhile TNEB before demerger is as under: (i) Demands under the Income Tax Act, 1961 ‘Assessment | Financial Status of Assessment Order Total ‘Year TNEB | Year Demand (Rs. In Crores) 2005-06 2006-07 & | 2004-05 & | Commissioner (Appeals) has issued an order on | 19.55 2005-06 | 22.04.2016 partially allowing TNEB's Appeal, For the disallowance TANGEDCO has preferred an appeal before the Income Tax Appellate Tribunal,& G Balu Associates LU Pp SRN Associates Chartered Accountants, SRN: vers 208, Chartered Accountants, No,128, Jami Buildings, ‘Cross Stet, Sengumhapur n, Karut 629,002, Royapetiah High Road, Mylapere, Chennai-600 004, Khicha & Prabhu Kesavan M.Thomas & Co., Chartered Accountants, No.53\ Wal Steet, 2nd Floor, Chartered Accountants, No.14Visuvasapuri 4” Sree, ‘Above Syndicate Bank, Coimb ore 600010. Ghanaolivupuram, Madura ~ 625 046. WOEDT to | DHE to Commissioner (Appeals) has issued an order on] 8606.03 2013-14 [2012-13 (05.08.2018 partially allowing TNEB‘s Appeal. For the disallowance TANGEDCO has prefersed an appeal before the Income Tax Appellate Tribunal, 212-13 | 2017-12 634.80 (u/s.263) 31.01.2019 partially allowing TNEB's Appeal. For tre disallowance TANGEDCO has preferred an appeal before the Income Tax Appellate Tribural, Chennai, WEIS [21314 Cainprissioner (Appeals) has issued an order on [30737 21.01.2019 partially allowing TNEB's Appeal. For the disallowance TANGEDCO has preferred an ‘appeal before the Income Tax Appellate “vibunal, Chennai. ‘2015-16 WEIS “ANGEDCO has appealed before the CIT [1891.88 (Appeals), Chennai against the Assessment order dt 30.12.2018 2016-17 Wis16 ,TANGEDCO has appealed before che CIT] 2281.40 (Appeals), Chennai against the Assessment order dt. 30.12.2018 213 (a7 | 21011 [TANGEDCO has appealed before the CIT) 595.99 8.147) “Appeals), Chennai against the Assessment order at. 30,12.2018, The Commissioner of Inceme Tax (Appeals) has issued an order dt, 11.07.2019. TANGEDCO is yet to prefer an appeal (i) Service Ta: oa disposal of fly ash to the extent of Rs.2.15 crores is disputed in appeal t fore CESTAT,SRN Associates * G Balu Associates LLP ‘Chartered Accountants, RN Towers, 2088, ‘Chartered Accountants, No-123, Jammi Buitings, 4* Cross Stroet, Sengunthapurarm, Karur ~ 639 002. Royapetiah High Road, Mylapare, Chennai-800 004, Khicha & Prabhu Kesavan M.Thomas & Co., Chartered Accountants, No.530, Vysial Street, 2nd Floor, Chartered Accountants, No.14 Visuvasapuri 4” Street, ‘bore Syndicate Bank, Coimbatore - 600010, ‘Gnanaolivypuram, Madura ~ 625 016. Vil xi, xl. Gi) CEGAT deposit of Rs, 0.35 crores from 1991 onwards is kept pending for refund from Central Excise Department without proper follow up. The company has not defaulted in repayment of loans and borrowings to Financial Institutions, banks, or dues to debenture holders except for an amount of Rs.58.23 corers of Principal and Rs.237.58 crores of interest are overdive on RAPDRP Loans payable to Government of India, In ow: opinion and according to the information and explanations given to us, the company has not made any public offer of its capital, during the year. The Company has obtained Term Loans and utilized the same for the purposes for which they were raised. According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit. In view of exemption give vide notification no. GSR. 463(E) dated June 5, 2015, issued by the Ministry of Corporate Affairs, Provision of section 197 read with schedule V of the act regarding managerial remuneration are not applicable to the company. Accordingly, paragraph 3(xi) of the Order is not applicable to the Company. In our opinion, the company is not a Nidhi Company. Therefore, the provisions of clause 3(xii) of the order are not applicable fo the company and hence not commented upon. According to the information and explanations given to us and on the basis of examination of the books of accounts and records we report that the transactions with related parties are in compliance with the provisions of Sections 177 & 188 of the Companies Act, 2013 as applicable and the details have been disclosed in the financials statement as required by the applicable ied in the Audit Report.- Ao SRN Associate 5 Chartered Accountants, SF! | Towers, 2081, ‘Cross Street, Sengunths: rary, Kerur~ 638002, G Balu Associates LLP Chartered Accountants, Ho.23, Jami Bulldings, Royapetish igh Road, Mylapore, Chenn-600 006, Khicha & Prabi u Kesavan M.Thomas & Co., ‘Chartered Accountants, M130, ysial tet, 2nd Floor, Ghartored Accountants, No.t4 isuvasepur Stet, ‘Above Syndicate Bank, Ce stator 600 010. ‘Gnanaolivupuram, Madural ~ 625 016, XIV, According t« the information and explanation given to us and based on our examination f the records of the company, TANGEDC1) has made allotment of Rs.278.98 ores shares to the Government of Tamil Nadu during the year. XV. According te the information and explanations given to us and on the basis of examination »f the books of accounts and records we resort that the company has not ente eid into any nou-cash transaction with any Director or persons connected + ith him, Accordingly, paragraph 3(XV) of the order is not applicable. The compa y is not required to be registered under Section 451A of the Reserve Bar < of India Act, 1934 and accordingly, the provisions of clause 3(xvi) of the I:der are not applicable to the Company. FOR SRN ASSOCIA’ Chartered Accountan jm No,0058435 Bit et 7) Partner-(CA V.R. SRI SLARAN) M.No.200385 UDIN: 21200386AAA AA7291 FOR M.THOMAS & Chartered Accountan + Firm No.0044088, Over’ ss Place: Chennai Date:13.01.2021 FOR KITCHA & PRABU KESAVAN Chartered Accountants Firm No.0501085 UDIN: 2101633 AAAAABIS05 FOR G BALU ASSOCIATES LLP Chatered Accountants Firm No.0003768/S200073 Ayoure"| Partner{CA RAJA GOPALAN. B) MNo.217187 UDIN: 21217187, AAAACSO7SSRN Associates Al Chartered Accountants, SRN Towers, 2081, ‘17 Gross Stet, Sengunthapuram, Karur ~ 638 002, Khicha & Prabhu Kesavan ‘Chartered Accountants, No.530, Vysial Street, 2nd Floor, Above Syndicate Bank, Coimbatore - 600 010 G Balu Associates LLP Chartered Accountants, Ho123, Jammi Buildings, Royapettah high oa, Mylapore. Chennal-st0 004, M.Thomas & Co., ‘Chartered Accountants, No.14 Visuvasapuri 4° Street, Gnanaolivupurem, adurai ~ 625 016. ANNEXURE CTO THE INDEPENDENT AUDITORS’ REPORT Referred. to in paragraph 3 under ‘Report on Other Legal and Regulatory Requirements’ section of Independent. Audit Report of even date to the Members of Tamil Nadu Generation & Distribution Corporation Limited Directions/Sub-directions issued under Section 143 (5) of the Companies Act, 2013 S.No. Sub-Directions Audit Remarks In respect. of Tuticorin Thermal Power Station, Mettur Thermal Power Station, North Chennai Power Station and Ennore ‘Thermal Power Station, compliance of the various Pollution Control Acts and the impact thereon including utilisation and disposal of ash and the policy of the company in this regard may be checked and commented upon. Ennore Thermal Power Station has been decommissioned with effect from 31.03.2017 as per _ information furnished, Does the company have a proper system for reconciliation of quantity /quality of coal ordered and received and whether the grade of coal, moisture content and demurrage charges paid are recorded in the books of account? The company has a system of reconciliation of quantity or quality of Coal ordered and received. The grade of Coal and demurrage charges paid are recorded in the books of accounts. moisture content ‘How much share of fee power was due to the State Government and whether the same AS per the information furnished, there is no agreement in this regard sity KC ey, eSRN Associates: 4 G Balu Associates LLP overs, 2081, Chartered Accountants, Na.123, lami Buildings, an, Karur~ 638 002, Royapettah High Road, Mylanore, Chanaai-809 004. Kesavan M.Thomas & Co., Chartered Accountants, No.5: ), vysial Street, 2nd Floor, Charfered Accountants, No.‘ 4 Visuvasapurl 4” Street, ‘Above Syndicate Bank, Coim ste ~ 600610, ranaolivuporam, Madurai ~€25 16, depicted in the ac: xinis as per accepted with the State Government. accounting norm, Report on the billing and colle company tion of revenue on racy of the system of| Discrepancies were observed between the | the books of accounts and_ billing software (both LT and HT) due to absence of proper integration with. respect to Security Deposit and the Interest thereon Whether the rec and payables be TANTRANSCO } reasons for diff examined. neiliation of receivables|Has not been completed and is ween TANGEDCO and | pending since its inception. as been completed? The tence if any may be Whether proper unutilized bank. completed? The re any is examined. ° of the prior peric year which relat yespect of pure examined. Provisioning towards} Yes, proper provisioning made d energy has _ been | towards unutilized banking energy. sons for difference if any, arther, proper accounting, | expenses in the current ay to previous year in use of power may be Tt may be verifie Variance (MCV) in progress for been charged to fi work in progress f+ “Whether Materials Cost) Materials Cost” Variance (MCV) ating to capital items has | relating to capital items has been ced assets / capital work j charged to Reserve for MCV and not npleted works / capital | to Fixed Assets.SRN Associates 43 Chartered Accountants, SRN Towers, 208, ‘cross Stet, Sengunthapuram, Karur 629 002. Khicha & Prabhu Kesavan Chartered Accountants, No-3, Ysa leet, 2nd Floor, Above Syleale Bank, Coimbalor~ 60000. G Balu Associates LLP Chartered Accountants, No.123, Jani Builings, -Royapettsh High Road, Mylapore, Chermal-600 {i04. M.Thomas & Co., ‘Chartered Accountants, No.14 Visuvasapuri 4” Street, ‘Gnanaolivapuram, Madurai ~ £25 016. Whether the Provisions of the Electricity Supply Annual Accounts Rules, 1985 on retirement, scraping, obsolescence of an asset, the cost of the asset and accumulated epreciation on it, etc. has been compiled by TANGEDCO for the year 2019-20. We report that based on our audit and information and explanations given to us there have been no scraping or retirement of assets during the year procedures according to under audit, Such events are to be transacted. as per Companies Act, 2013. it may be verified whether there is any difference between the actual amount of prior period income and booked amount. In respect of Sundry Debtors for Inter-state Sale of Power, Confirmation of Debtors may be obtained. There is no difference between the actual amount of prior period income and the accounted amount. The Company has uot obtained confirmation of balances from the Sundry Debtors. 10 Whether the Company has system in place to process ail the accounting transactions: through IT system? If yes, the implications of processing of accounting transactions outside IT system on the integrity of the accounts along with the _ financial implications, if any may be stated. ‘The Company's accounting system does not ensure that all the accounting transactions are processed through the JT system, ‘There are standalone systems for each function such as payroll, coal accounting not online collections, These are integrated with the accounting system meaning, there is human intervention when the independent functions are translated ete, outputs of these system. Such}SRN Associates 4 G Balu Associates LLP Chartered Accountants, SRN ove, 2061, Chartered Accountants, Ho.123, Jara’ Builings, 4Cross Street, Sengunthapt. ans, Karur ~ 639 002. Royapettah igh Road, Mylapore, Chennai-600 004, Khicha & Prabhi Kesavan M.Thomas & Co., ‘Chartered Accountants, No.5’ |, Vysial Street, 2nd Floor, Chartered Accountants, No 14 Visuvasapuri 4* Strat, Above Syndicate Bank, Coim! store ~ 600 010, Gnanaolivupuram, Madurai ~ 525 046. conversion weakens the integrity of the accounting. system and consequently weakens the financial reporting framework. i ‘Whether there is any restructuring of an] There has been no restructuring of an existing loan or c ces of waive/write off of | existing Ioan or waiver/write off that debis/loans/inte: s: etc, made by a lender | happened during the financial year to the company due to the company’s | The company is communicating with inability to repa the loan? If yes, the] Government of India for rescheduling financial impact r: xy" be stated. of the RAPDRP loans. The Government i 2 Whether funds Teceived/receivable for |The fund received from Central end vet to respond. specific schem; “from Central/State | State Governments for specified agencies were y: overly accounted for / | schemes are apparently used for the utilized as per its term and conditions? List | purposes for which they are received. the cases of devia! 01 B Temay be verified vaether the compliance of |The company is still following old Companies Act, 2013 and accordingly | Accounting Standards instead of ind applicability of e counting framework and| AS that is specified under Section 133 Ind AS has be n followed up by the| of the Companies Act; 2013. Company. ors Tt may be verifie: whether the fixed assets | Fixed Asset Register is, not maintained, registers were . aintained properly and| properly. The company has not doe updated as on ¢ te, Further, the physical | any physical verification of fixed verification of ssets was done as on| assets. 31.08.2020 ot rege u interval. 15 In_respect_of_E si Eys, aSRN Associates Chartered Accountants, SRK Towers, 208/, 4M Cross Street, Sengunthapuram, Karur ~ 639 002. Khicha & Prabhu Kesavan Chartered Accountants, No.530, Vysial Street, 2nd Floor, ‘Above Syndicate Bank, Coimbatore ~ 600010. 45 & Balu Associates LLP Chartered Accountants, No:123, Jari Buildings, Royapettah High Road, Mylapore, Chennai-600 004, M.Thomas & Co., Chartered Accountants, No:1é Visuvasapuri&* Stet, ‘Gnanaolivupuram, Madurai ~ 625 016, system for accounting of General Provident Fund and Contributory Pension Scheme may be verified General Provident Fund and Pension Scheme. A matching contribution is made for Contributory Pension Scheme. FOR SRN ASSOCIATES FOR KITCHA & PRABU KESAVAN Chartered Accountants Chartered Accountants Firm No.0058435, Firm No.05m1085, dane Partner {CA V.R. SRIDHARAN) M.No.200386 UDIN: 21200386AAAAAAT7I91 M.No.201633 - UDIN: 21201633444AA8 1300 semsezvonas aco sowcanuwasoaaresun romeo rononauy asso Firm No.004408S Firm No,0003765/S200073 Ox A sumek vane Qo we M.No.020983 UDIN: 2IOOSSAAAAANTISG2" ‘M.No217187 UDIN: 21217187AAAAAGS673AB MANAGEMENT REPL " ANNUAL ACCOUNTS “OR THE YEAR 2019-20 (0 COMMENTS OF THE STATUTORY AUDITORS ON THE - Ref | _ Comment ; of the Statutory Auditors Management Reply accounts as per. the ‘The conseq: 2ntial and Notes 0} said section 1 3. 1 TTANGEDCO t 1s not maintained its books off The Indian Accounting| prescribed under companies Act Is’ Standards an’ riot prepared the accompanying adopted, from FY 2018-19. onwards financial state nents in accordance with Ind AS|subsequent to the opinion from prescribed ur er Section 133 of the Act, 2013.|C&AG. mention. of Accounting|TANGEDCO adopts the accounting] Standards in 7¢ Significant Accounting Policies|policies as conventionally followed Accounts also contravenes the|as per Electricity Annual Accounts] accounting —_ framework Rules, 1985. . [Appropriate . steps _ has _ been! initiated to comply with the IND-AS from FY 2020-21 onwards. | [2 he voluatior of inventories other than coal is The. veluation of closing stock of, 1 |not in accord: we with AS-2 (Refer SAP No.2) materials is based on the latest| purchase orders issued to lowest Quoting suppliers. AS such, the! purchase rate is lesser than market, price. Any direct expenses invoived! on purchase of materials are booked separately in the relevant laccount heads: . Appropriate steps has been initiated to comply. with] No.4) 3 the write ba’ < of excess provision of preceding Under the Electricity Supply Annual jyear/s amou iting to Rs.1091.65 Crores have|Accounts \ been treated 3¢ Prier period Income (Refer SAP| provision of expenses is given: Rules, the “excess| accountng treatment as per| accounting policy. 4 |TANGEDCO. Software are books of accounts. = not reconciled and impacted its] Efforts has been taken to reconcile books of acc ints for the differences between the differences the value 0 Security Deposits as per. Billing|software and between Billing) Records on] consumers which will be sorted out| in 2020-21. I IGST Act. Tr also the corr onding liability if any. 5 HTANGEDCOs 9c0ks of accounts are _not|In view of the persistent changes in I reconciled/m it:had to the reported values of|GST ‘Tumover/inj st Tax Credit availed under thelincompatibiity, applicability of GST! quantum is not ascertainable asjon power sector services, frequent} provisions, GST — Porial| [AAR_rufings, manual system _ offaccounting, etc., reconciliation of| GST related transactions is yet to’ be finalised. ‘The collections from consemers through online payment gateways are deposited. ito designated bank accounts. The designated bank accounts report-an excess collection of| 5.2.34 Crores over the collections reported by the online portal of the company. Amidst huge volume .of ontine collection transactions, mismatch of| collections details between 45 modes-of collections and company| Books are under meticulous follow- up with respective bankers which ‘is under reconciliation process. (a) TANGEDCO collects moneys from its consumers against cost of infrastructure and ‘other works done on behalf of the consumers. ‘Such moneys are initially credited to Deposit Account and on completion of the works, wansferred to Reserve Account. The} corresponding expenditure (s treated as Fixed [Assets and gets depreciated accordingly. This is not in accordance with accepted accounting principles. ‘Considering the nature of creation! JoF fixed assets in power sector through. =a. non-refundable] contribution from consumers as per the Supply code notified by Honble TNERC. Such treatment as reserve, is conventionally followed: as_an| j2ccounting policy of the company. ‘The work-in-progress. as reported _by| Management includes the amount of work that| relates to works undertaken by TANGEDCO for} jand on behalf of its consumers. There are long pending works which have actually been| ‘completed and commissioned as per the documentation but yet to be capitalised in books of accounts. In the absence of adequate| documentation for capitalisation of the amount in the financial statements, we are unable to ‘quantity the difference and express an opinion ‘on the Capital work in progress disclosed in the financial statements. Huge ‘volume of such transactions in Distribution functions are being carried out and special drive to close the work orders is initiated for prompt capitalisation, once the) werk is completed and put into use, ‘All the work orders are properly documented viz., sanctions, estimates, record of transactions,| closure of work orders, account. Closures, etc. Moreover, system ‘integration of such work orders Jaccounting is also implemented in the company, (Capitalization of revenue expenditure on closed lwork orders charged by Circles varies from 27% to 40% as against 25% or 26% percent as stipulated by Head Office. This results in higher capitalization and higher depreciation need to) be rectified, Due to involvement of manual ljournalisation some circles would erroneously capitalise higher quantum. This issue would be| sorted out in FY 2020-21. (a) The cost of capitalisation and recognition of| Compliance of IND AS would be| replacement of Property, Plant & Equipment] made in 2020-21 onwards.4G fand the char ing of depreciation thereon is not in accordane: with the prescription contained in AS-10. Property, Ple: it & Equipment includes Land at} various piace + for which TANGEDCO does not hold proper ite document, We are unable to identify the ms as well as the corresponding} values, in the absence of adequate documentatir >. All the ttle deeds of lands procured: by TANGEDCO are intact and furnished to Audit. In case of tands| possessed by TANGEDCO from the formation of “Electricity Board| ‘through transfers from] Government, documentary trails| will be created duly approaching! the Government. The. measur iment basis in respect of self) Jconstructed ; sets is based on adhoc formulae. fin the abse c2 of details, we are unable to [comment on the rational basis of the formulae as indicated 1 SAP No.7 Considering the nature of self- constructed assets in power sector, 25% on value of assets being portior of revenue expenses viz., employees cost, administration| Jexpenses, depreciation is apportioried with capital work inj progress. This measurement is| conventionally «followed as~ an) accounting policy. 10 ‘The Assets": ‘cated out of Goverment grants are not sown as separate line items. Government grants should be shown under, Reserves af. | Surplus instead of Non-Current) Liabilities ure Schedule ITE of the Companies} Act, 2013 This wil be complied with as per| IND AS from 2020-21 onwards oT Diminution lue of investments if any in subsidiaries, Joint ventures and Associates is| not accounts | n the books of accounts. This wil be complied ‘with a5 per! IND AS from 2020-21 onwards 12 TANGEDCO Joes not comply with Provident Fund arid scellaneous Provisions Act, 1952. “The compar + has not invested the employee| contribution: t2 various terminal benefit funds such as Farr y Benefit Funds, General Provident fund, Contri! usory Pension Scheme along with Companys natching contributions in an} independent entity. The Company has not provided Gri uity payable to its employees after getting Actu; riat Valuation. Since the company has not finalised its Employees Transfer stheme| under Restructuring of erstwhile ‘TNEB and adopting the pension! [schemes notified by Government, existing system ‘of maintaining funds with “TANGEDCO is being adopted.4A 13 The capitalisation of borrowing cost to the tune| of Rs.1382.41 Crores is not in accordance with ‘the measurement principles contained in AS-16 (Refer Note No.12) Since the borrowings ere ‘ot related to qualifying assets created. Since inception of the company and] [considering the continuous nature! lof creation of fixed assets in power: sector, the absorption of interest during construction (IDC) stage on capital work in progress is conventionally followed as“ ani jaccounting. policy. The total IDC booked is Rs.2865:33crore_ which includes interest of Rs.482.91 Crores on loans exclusively availed for the capacity addition of projects: lunder execution in the company. (2) TANGEDCO has not reconciled its books| balances with thosé of TNEB Ltd and [TANTRANSCO, There are material differences| jas between the books of both the entities and TANGEDCO as observed from 2 perusal of the available account statements of other entities. ‘There are mismatch ‘of booking of transactions ‘between such related companies which are under; reconciliation. (b) Other Note No. 6 an amount of (-)Rs.119.92 ‘crores (Debit) are the unreconiled difference in balances of various inter-unit accounts that are| shown under Current Liabilities. [The process of reconciliation is| consistently carried out by all the! account rendering units, by which the differences are being further' narrowed down. Amounts advanced to a State Public Sector) Undertaking, Poompuhar Shipping Corporation has not been confirmed by the said PSU. Reconciliation of both company! accounts are under process. 16 |AS-21 is not Complied with. This will be complied with as per| IND AS from 2020-21 onwards 7 [The Assets are not shown in carrying cost as per AS-23 and AS-27. ‘This will be complied with as per IND AS from 2020-21 onwards 18 [TANGEDCO has not assessed and therefore has not factored in the accompanying financial [statements the impairment of its Property, Plant, & Equipment and Other Financial Assets induding investments in Subsidiaries and Joint Ventures, This will be complied with as per! IND AS from 2020-21 onwards 19 1. The company is not maintaining a list of| lvendors who are categorised as MSME and registered under MSMED Act, 2006. [The data on suppliers as required! Junder MSME Act would be complied with from 2020-21 onwards. [Consequently, the provisions of MSMED Act is40 not applied t settlement prescribed Payment/pro delayed seth interest paye absence of a any of the transactions lacluding dues within the time limits: ander that Act and also. sion of prescribed interest for nents. The value of overdues and we are not ascertainable in the uate date. 20 The Sundn; classified a Joutstanding, the Compani Debtors-Receivables are not cording to their tenure of! 1 accordance with Schedule HT of \ct, 2013. Tn house package is under rectification process and will be set right in FY 2020-21. Non-Provision of Li bilities/Non-charging to Profit & Loss Account 24. TANGEDCO hi for the same in the ac i neither quantified nor recognised ‘ompanying financial statements: the following fiabilities and provided; i) JGratuity- Th liability has 1 ‘quantification .of the accrued t been made by the company. ‘Actuarial valuation work is being carried out, the effect of which will bbe brought into books, as per IND’ AS-19. ii) Impact of Fr in preceding ud5 and Embezzlements detected 2urs quantified at Rs.2.66 crores. 'As 2 company policy, the recovery of dues towards embazzlements / thefts are fixed with the concerned staff in charge and civil / criminal proceedings are being taken to) recover the loss, if any and duly’ disclosed in notes. Appropriate civil / criminal case is. pending against the concerned staff. ii) Interest. clair settlement © ‘Surcharge Re: “of the parties for the delayed! dues towards Power Purchasel 4694.39 Crores, Negotiation with the parties) concerned are in process for| jwaiver/reduction of such. interest, and thus, not provided in the books ‘of account. . iv) ‘Water. Cess Board up to! sayable to TN Pollution Control {.03.2020 Rs.686,39 Croves. Proposal seeking exemption from water cess is under active] consideration with Central Pollution Control Board. vy Lease rent | Rs.563.48 Cr wable to TN Forest department res Negotiation is being conducted’ to reassess the quantum of arrears of lease rent, with Forest Department / GOTN,Be vi) [Coat Shortage valued at Rs.330.55 crores. (On the outcome of negotiations| ‘with coal suppliers on the shortages! and after investigations by- the| ‘company, the shortage will - be! charged to revenue account. Till such time, the same will be! retained under coal shortage ending investigation. vil) JOther Note No.19 Dues from Puducherry| Government amounting to Rs.331.59 crores| (Net). Negotiation — with Puducherry! Government is under process for| early realisation of dues. vii) Other Note No.17(b) E-Tax amounting to| Rs.93.38 crores. |TANGEDCO Is playing the role of| ‘Collection Agent to'GOTN.for E.Tax. JAS the E-Tax is under. recovery’ process through couit proceedings, the dues need not be provided in| books till final outcome arrived. bx) Other Note No.25 Non-moving / obsolete’ stores values at Rs.48.37 crores. The Obsolete and _non-moving items will be auctioned as a regular process, and relevant profit or loss ‘on sale will be brought into revenue account, only after auction process lover. x) Liability for default in remittance and delayed remittance of Tax Deduction liabilities under the, ‘Income Tax Act, 1961 - Rs.9.66 Crores, TDS defaults in several TANS! maintained by circles are’ being rectified through special drive and Jgradually. reduced. Admissibie| libilties are settled by remittance by circles. and accounted accordingly. | xi) Other Note No.20, TANGEDCO has made claims jwith NCLT regarding contract awarded to Lanco Infratech which was terminated due to non- performance. This Company is in the process of| winding up and TANGEDCO made its claim to| NCLT, Hyderabad Bench for Rs. 1882.03 crores. NCLT approved daims only up to Rs.708.38; crores which were recognized in the books of| accounts, balance of claims has to be provided| in the books of accounts, by the Company. ‘Since appeal against NCLT order is proposed with NCLAT, the remaining claims will not be provided in the accounts, tit final verdict obtained. vil) [TANGEDCO has to enter into a Lease| Appropriate arrangement willbe8a Agreement wh its Parent Company TNEB Ltd for use of its ind and building at free of cost. initiated to enter into a. lease agreement with TNES Ltd. xii) Various issue are still pending before CIGAT, Excise Autho: ty and Service Tax Authority the current statu: cf the issues has to be reviewed ‘and necessa * actions to be taken to resolve: the issues. [Appropriate legal process will be’ adhered to sort out such service tax issues, JOther Notes No.38, The Company has not ‘arrived at Ri gulatory Assets for the finandal year 2018") and 2019-20 and has not! amortized rer slatory assets. The true. up petition for the control period of FY 2016-17 to FY 2018-19) [will be filed Hon'ble TNERC along ‘with ARR and Tariff Petition for the| period FY 2019-20 to FY 2022-23. On approval of the Commission, Regulatory Assets will be: brought into account. A) For bith Direct and Indirect _ tax| consultancie: Professionally qualified firm/s of repute shot 1 be empanelled once in three, year. 8) Concurrer : audit assignment should be done for all EDC's and Generation Circles out of the Chartered Ac :cuntants. ©) Concurre’ t audit assignment should be done} jempanelled >tofessionally qualified firm/s. of A. It is proposed to engae external: CA firms through Tender under Quality and Cost Based ‘Selection method. (QCBS) B. Concurrent audit dption will be! explored considering ——_—the| requirement of the compariy. Ic. Concurrent audit option will be! for Coal ‘ection, Central Payments andjexplored considering the| Revenue Si clion in Head Office/Corporate| require nent of the company, Office, _ | [Contravention of ¢ smpanies Act: _ 1. |TANGEDCO 2s defaulted in Corporate|The proposal to appoint Director in ts Board and consequential non- Committee : 1d CSR Committee. Governance 3y not appointing an Independent] compliance 3s regards composition of Audit Independent Director’ isin consideration of Government. On appointment of Independent| Director by the company, the Reconstitution of Audit committee and CSR would be done. (Other Note Ic.35-TANGEDCO has not prepared and anne ed 2 Consolidated ‘Statement « Financial ts accounts with other applicable| entities - |. fenguai Power Corporation, NTPC} [Udangudi Power Corporation Ltd is| under “nerger process and the legal formalities are going on. Thus the| financials of _UPCL is _notyRB Tamilnadu Energy Company Ltd., (NTECL) and] ‘NLC Tamilnadu Power Ltd., (NTPL) consolidated. Joint Venture companies- NTECL| and. NTPL- are maintain their books of accounts as per the Indian |Accounting Standards:---- Since) TANGEDCO has not prepared the) financial statements in accordance with Ind” AS, the consolidated! financial statement’ of » accounts; could not be prepared. ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT Paragraph 2- ‘Report on other Legal and Regulatory Requirements‘ I ay The Company is not maintaining proper records| showing full particulars including quantitative details and situation of al its Fixed Assets, Fixed assets registers. creation is lunder progress, by duly engaging consultant =“ through. © ADB assistance -However, effective control is in force against any loss, damage, or misappropriation, to safeguard assets of the company. b) ‘As per information furnished, during the year| under audit, proper physical verification of fixed assets of the Company has not been carried ‘out, ‘Though physical verification is not| done, effective control is in force! against any loss, damage, or misappropriation, to safeguard) assets of the company. [The Company is unable to produce documents; lof Title for some of its immovable properties which are catried as Fixed Assets in its books, It is informed that all immovable properties that jare cartied as Fixed Assets in the books of} Jaccounts are. in Its absolute possession and! enjoyment, All the title deeds of lands procured by TANGEDCO are intact and) furnished to Audit. In case of lands| possessed by TANGEDCO from the} ‘formation of Electricity Board {through transfers from| JGovernment, | documentary « trails will be created with support of| Government. The company carries out physical verification of| stocks of inventories of raw material including jcoal on annual basis. The impact’ of such physical verification is not carried out in books; Jand transacted after proper investigation into the reason for variance. The physical verification of Inventories are being conducted on] all the stores duly carried out by an] exclusive stores wing, Based on! the report any excess / short were| also taken care in the books of| accounts by the circles.ny Vit Comments on rot remittance of few statutory issues (A). the extent of | s.93.38 Crores. E-Tax admitte: | as @ liability by the Company tol FTANGEDCO is playing the role of, Collection Agent to GOTN for E.Tax. ‘As the E-Tax is under recovery’ process through court proceedings, provision need not be made. (B). Crores to rerds and consequé ttia! Interest, Fees and Penalty. ‘There is an undisputed demand of Rs.9.15 non-remittance/delayed| remittance of IDS under Income Tax Act, 1961 TOS defaults in several TANs: maintained by circles are being rectified through special drive and gradually reduced. oo 2004-05 to 2/ 15-16) Demands ur Jer IT act pertaining to the TTANGEDCO nd erstwhile TNEB periods (FY ‘There are disallowance in IT assessment of previous years, for} which TANGEDCO has preferred! appeai with ITAT. (a) |CESTAT. Service Tax + 7 disposal of fly ash to the extent of R5.2.15 ¢ mes is disputed in appeal before Since the issue is under dispute and appeal In CESTAT, the same has been shown under contingent liability. i) onwards is kept pending for refund from Central Exc se Department without proper} follow up. CEGAT depe it of Rs. 0.35 crores from 1991 Appropriate legal process will be undertaken to sort out the issue VIII The compan’ has not defaulted in repayment of loans and E: rrowings to Financial Institutions, banks, ar di. 2s to debenture holders except for: an amount f Rs.58.23 crores of Principal and Rs.237.58 ¢ ores of Interest are overdue on RAPDRP Loz’ 1s payable to Government of India. not be complied TANGEDCO. As such, outstanding. Consequent to the court tigation, lin the RAPDRP scheme projects, the time line for such scheme could with by| Interest and) Principal repayment on the loans isoF ‘TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED BALANCE SHEET AS AT 31ST MARCH 2020 (Rs. In Crores) PARTICULARS norewo| yas 2090 angpenaoiy JASsers 4|NON CURRENT ASSETS te) Property, Plant and Equipment ata) 59,085.70 59,198.44 kv) capital Work in Progress tb) 27,259.11 19,70827 cj other intangible Assets 100) 013 033 {a) Financial assets {Investments 2@) 1,937.66 1938.37 (W) Others 2b) 2,172.08 1430.88 ke) Deferred Tax Assets (Net) 3 - : (f Other Non-Current Assets 4 730.87 135.30 2lcuRRENT ASSETS (2) Inventories 5 3,261.94 2,550.95 \b) Financial Assets (0 Trade Receivables 5(2) 10,169.49 9918.79 (i) Cash and Cash Equivalents | 6(0) 2198.61 1,239.09 (iy Omners 6) 38,367.04 34243.78 () Current Tax Assets (Net) 7 ag, 30.36 (2) Other Current Assets 8 1,234.36 1,264.26 Lo TOTAL ASSETS| 1,46,429.12 1,31,634.61 [EQUITY AND LIABILITIES alequery \a) Equity Share Capital 3a) 20,057.87 19,778.89 (0) Other Equity 4b) -78214.10 $8,499.05 Liaprurraes : 2\NON-CURRENT LIABILITIES a) Financial Lables (0 Borrowings ofa) 41,07,820.42 106,100.32, (1) Other Finencial arate 30(0) - : |) Provisions u : - tc) Deferred Tax Lability (Net) 2 - - Other Non-cutrent Liaities 3 1420.05 859.22AB oe. TAMILN?, 1U GENERATION AND DISTRIBUTION CORPORATION LIMITED __BALANCE SHEET AS AT 31ST MARCH 2020 _ i (Gata Crores)] \ [AMOUNT AS ON ‘AMOUNT AS ON PARTICUL' 's NoTENO QUNT AS ON OUNT AS ON SICURRENT ABILITE: ay Financial Uabites () Borcowings 14(8) 16,075.26 7,338.00 {iy Trace Payabies 1) 52,964.18 43,715.92 ) Ole vtancal soites | tate 20078 7 (0) Other Current abi = 15 23,538.47 20,087.58 () Provisions 16 956.22 906.16 (8) Corent Tax Labi (We) v - . frovat equrry AND 446,420.12 1,31,634.61 Se tomparyns Vee. Ue Mal SARE K. MALARVIZHE SURESHKUMAR ™ | PANKALICIMAR BANSAL ONEF Fug con” ERY comma seceTAR( opr egucGPreCTOR/ CAmHaN NAAN NERA ra DIRECTOR ‘SUBJECT TO OUR REPORT OF EVEN DATE FOR SRN, SSOCIATES. FOR KHICHA & PRABU KESAVAN Charterec wxountants ‘Chartered Aconuntants. Firm N° 0058435 Firm No.9501085 Leki (CAV.R. SR DARAN) (CASmaNzvannany Pe mat Partner Me 01386 weno. 201593 FOR M.TH IMAS & €O FOR G BALL ASSOCIATES LLP Chartered muntants Chartered Accountants Firm N oos0as Fm No. 0003735 (5200073 Wy, A os . ao (CARRE ICIS v) {CA RAIA GOPALAN. 8) Pe Partner Me 0217187 tice crane | MESita ffa4 od ‘TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED [PROFIT AND LOSS STATEMENT AS AT 31ST MARCH 2070. Teme NOTE] FOR THEYEAR ENED | FORTHE VEARENDED PARTICULARS No 31.03.2020 31.03.2019 CONTINUING OPERATIONS event Opens 6 3679539 $4985.03 ots income 1 38171 era. Total nevenvel wa77.10 3686.73 SrPENSES (a) Cos of Powe Furcnase 2» 27,195.89 sires (cost of Power Generation 2 267-4 39170 (erp ayce eet peas 2 2997.38 e057 (d} Finance Costs B 9,356.48 | 8,248.15 (6) Depeision an amoriaton exp | 24 2765.7 i627 (9 oer epenses 2 1976 feet jaa Taz 74a035 PROFIT / (LOSS) BEFORE TAK 11,984.93 a26na8 aK ENPENSE (ey cree Tax % - (b) Deferred Tax Uw - 7 FROn coNeenU ING OPERATIONS 33,964.93 62544 gee Te naa Re =| Sune wk f Beli Whee rar pace ran ACG ce mane eOER sme SSETA ne ne ome coe mace oocree FOR SRN ASSOCIATES: FOR KHICHA & PRABU KESAVAN Charred Acrountats Charter pecounarts Per i. 00S0835, iy Ne. O301085 Egpadt on D [ow or (CA V.RSRIDHARAN) (CASMANIVANNAN) arte etre ene 200365 mene 201633 FOR M.xHOMAS 8 CO FOR ¢ BALU ASSOCIATES UL? Gres Acourtaats Groner Pr NogOMOES 4, si He oO03765/S200073 it ee, a (XSi cahancornal verre 3) rine no 707 2: Chena ' 13.01.2021 Lgo C TRATLNADL SENERATION AND DISTRIBUTION CORPORATION LIMITED — ‘CASHFL! W STATEMENT FOR THE YEAR ENDED 34st MARCH 2020 eee (Ren Crore] Particular ‘As at 31 March 2020 ‘Asat 1 March 2019 \casn FLOW FROM OPERATIN i ACTIVITIES. Inet prot before tax aie 33] "26a [Depreciation 2,765.17 | 1637, terest ere “45807 206.67 locker income 7524.25 6387.28 terest paid = 247i! 5,212.34 ee profit before work 1g capital changes “8,737.38 | 2,588.65 JPovement in woring capital, ID lincrease / Decrease in nventorie 770.98 “aT36 norease / Decrease in Trade rec bles 250.70 “888.82 [increase / Decrease n Others 403.261 = 32473 [increase / Decrease in Current x. AS3et 082 0.00, increase Decrease in Other Gu er ASSetS 29.88 "3859 increase / Decrease in Boron 5 8737.27 1,763.68 rcreese / Decrease In Trade pa’ is 9,248.25 6,058.68 [Increase / Decrease i Other Fr cial Hates 1113.19] 9640 [increase / Decrease in Other Ci et ables 2,790.89 3,375.93 lincrease / Decrease in Provision) __ 50.05 129.05 Icash generated/used in ope ions 3,126.40 "2485 ax paid - ~ = INet cash from operating act ities (A) 3,126.40) 2888 [CASH FLOW FROM INVESTI' G ACTIVITIES Fong Asset Net S58 Bia6i.80 few net 755A 392542} purchase of irtangibe Asset : 0.02 [sae of Fixed Asset : lovestments oni) 3655 fother investments Le 100.09 {Other Non current assets 595.57 255.97, liners Income 35807 206.67 fother income 5,387.28 Net cash trom investing ac i 357799 [CASH FLOW FROM FINANC: [Borcowings 1,720.10 TO,501.64 ‘Non current fables : 570.84 226.11 Fair 278.8, T1164 her eau 3.19898 Fie 23 rest paid 324471] “51234 [Net cach from financing ac “BATS 81 | 5,601.68]a TAMTLNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED. ‘CASH FLOW STATEMENT FOR THE YEAR ENDED 3ist MARCH 2020 =| ‘As at 31 March 2020 ‘As at 31 March 2019 Particulars it Terence [derenseTh ash and cash lequivalent (AtB

You might also like

• The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life

  

  From Everand

  The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life

  Mark Manson

  Rating: 4 out of 5 stars

  4/5 (5825)
• The Gifts of Imperfection: Let Go of Who You Think You're Supposed to Be and Embrace Who You Are

  

  From Everand

  The Gifts of Imperfection: Let Go of Who You Think You're Supposed to Be and Embrace Who You Are

  Brene Brown

  Rating: 4 out of 5 stars

  4/5 (1093)
• Never Split the Difference: Negotiating As If Your Life Depended On It

  

  From Everand

  Never Split the Difference: Negotiating As If Your Life Depended On It

  Chris Voss

  Rating: 4.5 out of 5 stars

  4.5/5 (852)
• • Magazines
  • Podcasts
  • Sheet music
• Principles: Life and Work

  

  From Everand

  Principles: Life and Work

  Ray Dalio

  Rating: 4 out of 5 stars

  4/5 (612)
• The Glass Castle: A Memoir

  

  From Everand

  The Glass Castle: A Memoir

  Jeannette Walls

  Rating: 4.5 out of 5 stars

  4.5/5 (1720)
• Grit: The Power of Passion and Perseverance

  

  From Everand

  Grit: The Power of Passion and Perseverance

  Angela Duckworth

  Rating: 4 out of 5 stars

  4/5 (590)
• Sing, Unburied, Sing: A Novel

  

  From Everand

  Sing, Unburied, Sing: A Novel

  Jesmyn Ward

  Rating: 4 out of 5 stars

  4/5 (1194)
• Hidden Figures: The American Dream and the Untold Story of the Black Women Mathematicians Who Helped Win the Space Race

  

  From Everand

  Hidden Figures: The American Dream and the Untold Story of the Black Women Mathematicians Who Helped Win the Space Race

  Margot Lee Shetterly

  Rating: 4 out of 5 stars

  4/5 (903)
• Shoe Dog: A Memoir by the Creator of Nike

  

  From Everand

  Shoe Dog: A Memoir by the Creator of Nike

  Phil Knight

  Rating: 4.5 out of 5 stars

  4.5/5 (541)
• The Perks of Being a Wallflower

  

  From Everand

  The Perks of Being a Wallflower

  Stephen Chbosky

  Rating: 4.5 out of 5 stars

  4.5/5 (2105)
• The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers

  

  From Everand

  The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers

  Ben Horowitz

  Rating: 4.5 out of 5 stars

  4.5/5 (349)
• Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

  

  From Everand

  Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

  Ashlee Vance

  Rating: 4.5 out of 5 stars

  4.5/5 (474)
• Bad Feminist: Essays

  

  From Everand

  Bad Feminist: Essays

  Roxane Gay

  Rating: 4 out of 5 stars

  4/5 (1029)
• The Outsider: A Novel

  

  From Everand

  The Outsider: A Novel

  Stephen King

  Rating: 4 out of 5 stars

  4/5 (1871)
• Her Body and Other Parties: Stories

  

  From Everand

  Her Body and Other Parties: Stories

  Carmen Maria Machado

  Rating: 4 out of 5 stars

  4/5 (823)
• The Sympathizer: A Novel (Pulitzer Prize for Fiction)

  

  From Everand

  The Sympathizer: A Novel (Pulitzer Prize for Fiction)

  Viet Thanh Nguyen

  Rating: 4.5 out of 5 stars

  4.5/5 (122)
• The Emperor of All Maladies: A Biography of Cancer

  

  From Everand

  The Emperor of All Maladies: A Biography of Cancer

  Siddhartha Mukherjee

  Rating: 4.5 out of 5 stars

  4.5/5 (271)
• Angela's Ashes: A Memoir

  

  From Everand

  Angela's Ashes: A Memoir

  Frank McCourt

  Rating: 4.5 out of 5 stars

  4.5/5 (443)
• Brooklyn: A Novel

  

  From Everand

  Brooklyn: A Novel

  Colm Tóibín

  Rating: 3.5 out of 5 stars

  3.5/5 (1948)
• The Little Book of Hygge: Danish Secrets to Happy Living

  

  From Everand

  The Little Book of Hygge: Danish Secrets to Happy Living

  Meik Wiking

  Rating: 3.5 out of 5 stars

  3.5/5 (403)
• A Man Called Ove: A Novel

  

  From Everand

  A Man Called Ove: A Novel

  Fredrik Backman

  Rating: 4.5 out of 5 stars

  4.5/5 (4772)
• The World Is Flat 3.0: A Brief History of the Twenty-first Century

  

  From Everand

  The World Is Flat 3.0: A Brief History of the Twenty-first Century

  Thomas L. Friedman

  Rating: 3.5 out of 5 stars

  3.5/5 (2259)
• Steve Jobs

  

  From Everand

  Steve Jobs

  Walter Isaacson

  Rating: 4.5 out of 5 stars

  4.5/5 (809)
• The Art of Racing in the Rain: A Novel

  

  From Everand

  The Art of Racing in the Rain: A Novel

  Garth Stein

  Rating: 4 out of 5 stars

  4/5 (4208)
• The Yellow House: A Memoir (2019 National Book Award Winner)

  

  From Everand

  The Yellow House: A Memoir (2019 National Book Award Winner)

  Sarah M. Broom

  Rating: 4 out of 5 stars

  4/5 (98)
• Devil in the Grove: Thurgood Marshall, the Groveland Boys, and the Dawn of a New America

  

  From Everand

  Devil in the Grove: Thurgood Marshall, the Groveland Boys, and the Dawn of a New America

  Gilbert King

  Rating: 4.5 out of 5 stars

  4.5/5 (266)
• A Tree Grows in Brooklyn

  

  From Everand

  A Tree Grows in Brooklyn

  Betty Smith

  Rating: 4.5 out of 5 stars

  4.5/5 (1930)
• Yes Please

  

  From Everand

  Yes Please

  Amy Poehler

  Rating: 4 out of 5 stars

  4/5 (1903)
• A Heartbreaking Work Of Staggering Genius: A Memoir Based on a True Story

  

  From Everand

  A Heartbreaking Work Of Staggering Genius: A Memoir Based on a True Story

  Dave Eggers

  Rating: 3.5 out of 5 stars

  3.5/5 (231)
• Team of Rivals: The Political Genius of Abraham Lincoln

  

  From Everand

  Team of Rivals: The Political Genius of Abraham Lincoln

  Doris Kearns Goodwin

  Rating: 4.5 out of 5 stars

  4.5/5 (234)
• The Woman in Cabin 10

  

  From Everand

  The Woman in Cabin 10

  Ruth Ware

  Rating: 3.5 out of 5 stars

  3.5/5 (2526)
• Wolf Hall: A Novel

  

  From Everand

  Wolf Hall: A Novel

  Hilary Mantel

  Rating: 4 out of 5 stars

  4/5 (3973)
• Fear: Trump in the White House

  

  From Everand

  Fear: Trump in the White House

  Bob Woodward

  Rating: 3.5 out of 5 stars

  3.5/5 (738)
• John Adams

  

  From Everand

  John Adams

  David McCullough

  Rating: 4.5 out of 5 stars

  4.5/5 (2409)
• On Fire: The (Burning) Case for a Green New Deal

  

  From Everand

  On Fire: The (Burning) Case for a Green New Deal

  Naomi Klein

  Rating: 4 out of 5 stars

  4/5 (74)
• The Light Between Oceans: A Novel

  

  From Everand

  The Light Between Oceans: A Novel

  M.L. Stedman

  Rating: 4.5 out of 5 stars

  4.5/5 (789)
• Manhattan Beach: A Novel

  

  From Everand

  Manhattan Beach: A Novel

  Jennifer Egan

  Rating: 3.5 out of 5 stars

  3.5/5 (880)
• The Constant Gardener: A Novel

  

  From Everand

  The Constant Gardener: A Novel

  John Le Carré

  Rating: 3.5 out of 5 stars

  3.5/5 (104)
• The Unwinding: An Inner History of the New America

  

  From Everand

  The Unwinding: An Inner History of the New America

  George Packer

  Rating: 4 out of 5 stars

  4/5 (45)
• Rise of ISIS: A Threat We Can't Ignore

  

  From Everand

  Rise of ISIS: A Threat We Can't Ignore

  Jay Sekulow

  Rating: 3.5 out of 5 stars

  3.5/5 (137)
• Little Women

  

  From Everand

  Little Women

  Louisa May Alcott

  Rating: 4 out of 5 stars

  4/5 (105)
• List of Share Holders, Debenture Holders - 28112022

  

  Document1 page

  List of Share Holders, Debenture Holders - 28112022

  raj oberoi

  No ratings yet
• Resignation Letter-07082020

  

  Document1 page

  Resignation Letter-07082020

  raj oberoi

  No ratings yet
• Certificate of Satisfaction of Charge-20211222

  

  Document1 page

  Certificate of Satisfaction of Charge-20211222

  raj oberoi

  No ratings yet
• Financial Documents of Tamilnadu State Power Generation Company

  

  Document126 pages

  Financial Documents of Tamilnadu State Power Generation Company

  raj oberoi

  No ratings yet
• Financial Documents of Tamilnadu State Power Generation Company

  

  Document102 pages

  Financial Documents of Tamilnadu State Power Generation Company

  raj oberoi

  No ratings yet
• Financial Documents of Tamilnadu State Power Generation Company

  

  Document88 pages

  Financial Documents of Tamilnadu State Power Generation Company

  raj oberoi

  No ratings yet