TABLE OF CONTENTS
Commercial Audit Report
2001-02
Chapter/ Section/ Para No. |
SUBJECT |
Page(s) |
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Preface |
ix
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xi-xvi |
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CHAPTER 1 |
OVER VIEW OF GOVERNMENT COMPANIES AND STATUTORY CORPORATIONS |
1-20 |
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1.1 |
Introduction |
1 |
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1.2 |
Working Public Sector Undertakings (PSUs) |
2 |
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1.3 |
Non working PSUs |
9 |
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1.4 |
Status
of placement of Separate Audit Reports of Statutory Corporations in
Legislature |
12 |
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1.5 |
Disinvestment,
Privatisation and Restructuring of Public Sector Undertakings |
12 |
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1.6 |
Results
of audit by Comptroller and Auditor General of India |
14 |
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1.7 |
Recommendations for closure of PSUs |
16 |
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1.8 |
Response
to Inspection Reports, Draft paras and reviews |
17 |
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1.9 |
Position
of discussion of Audit Reports (Commercial) by the Committee on Public
Undertakings (COPU) |
17 |
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1.10 |
619-B Companies |
18 |
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1.11 |
Reforms in Power Sector |
18 |
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CHAPTER 2 |
REVIEWS RELATING TO GOVERNMENT COMPANIES |
21-103 |
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The Singareni Collieries Company Limited |
21-63 |
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Highlights |
21 |
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2A.1 |
Introduction |
23 |
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2A.2 |
Organisational set-up |
23 |
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2A.3 |
Scope of Audit |
23 |
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2A.4 |
Capital Structure and Borrowings |
24 |
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2A.5 |
Financial Position and Working Results |
24 |
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2A.6 |
Financial Restructuring Package |
24 |
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2A.7 |
Project formulation and Status |
26 |
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2A.8 |
Production Performance |
33 |
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2A.9 |
Plant and Machinery utilisation |
39 |
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2A.10 |
Overburden removal |
42 |
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2A.11 |
Manpower utilisation |
45 |
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2A.12 |
Pricing Policy |
45 |
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2A.13 |
Fuel Supply Agreements |
47 |
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2A.14 |
Credit Control |
48 |
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2A.15 |
Cash Management |
50 |
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2A.16 |
Unfruitful investment in sick company |
52 |
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2A.17 |
Material Management and Inventory Control |
52 |
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2A.18 |
Risk Management |
54 |
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2A.19 |
Welfare Expenditure |
56 |
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2A.20 |
Internal Control and Management Information System |
57 |
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2A.21 |
Estate Management and Town ship |
58 |
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2A.22 |
Other Topics of Interest |
61 |
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Conclusion |
62 |
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Andhra Pradesh State Seeds Development Corporation Limited |
64-88 |
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Highlights |
64 |
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2B.1 |
Introduction |
66 |
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2B.2 |
Organisational set up |
66 |
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2B.3 |
Scope of Audit |
66 |
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2B.4 |
Capital structure and borrowings |
67 |
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2B.5 |
Financial position and working results |
67 |
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2B.6 |
Production performance |
67 |
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2B.7 |
Seed farm at Nagalapuram |
75 |
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2B.8 |
Quality
Control |
76 |
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2B.9 |
Processing and storage facilities |
77 |
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2B.10 |
Sales performance |
79 |
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2B.11 |
Sundry
Debtors |
84 |
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2B.12 |
Subsidy |
84 |
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2B.13 |
Internal
Audit |
86 |
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2B.14 |
Management information system |
86 |
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Conclusion |
87 |
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Section 2C |
400 KV Transmission Scheme for evacuation of Power from Srisailam Left Bank Hydroelectric Power Station relating to Transmission Corporation of Andhra Pradesh Limited |
89-104 |
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Highlights |
89 |
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2C.1 |
Introduction |
90 |
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2C.2 |
Scheme profile |
90 |
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2C.3 |
Organisational set up |
91 |
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2C.4 |
Scope of Audit |
92 |
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2C.5 |
Techno-economic
Approval |
92 |
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2C.6 |
Funding arrangements |
93 |
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2C.7 |
Scheme Planning and Execution |
94 |
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2C.8 |
Procurement of material |
96 |
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2C.9 |
System failures |
99 |
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2C.10 |
Civil works |
100 |
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2C.11 |
Price adjustment payments |
100 |
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2C.12 |
Time over run |
102 |
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2C.13 |
Cost over run |
102 |
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2C.14 |
Non-achievements of objectives |
102 |
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Conclusion |
103 |
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CHAPTER 3 |
MISCELLANEOUS TOPICS OF INTEREST |
105-127 |
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Section 3A |
Government Companies |
105-118 |
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3A.1 |
Andhra Pradesh State Civil Supplies Corporation Limited |
105 |
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3A.1.1 |
Loss in procurement and storage of onions |
105 |
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3A.2 |
Andhra Pradesh State Housing Corporation Limited |
106-109 |
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3A.2.1 |
Loss due to non-discharge of high cost debt |
106 |
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3A.2.2 |
Non-utilisation of subsidy for the intended
purpose |
107 |
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3A.2.3 |
Non-extension of central subsidy to the targeted
group |
108 |
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3A.3 |
Andhra Pradesh Mineral Development Corporation Limited |
109-110 |
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3A.3.1 |
Non-recovery of cost of removal of ore dumps |
109 |
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3A.4 |
The Nizam Sugars Limited |
111-112 |
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3A.4.1 |
Non-rectification of
tripping mechanism during overhaul |
111 |
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3A.4.2 |
Excess payment of notice period salary |
112 |
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3A.5 |
Andhra Pradesh Power Generation Corporation Limited |
113-114 |
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3A.5.1 |
Avoidable expenditure |
113 |
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3A.5.2 |
Excess procurement of power cables |
114 |
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3A.6 |
Andhra Pradesh Power Finance Corporation Limited |
115 |
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3A.6.1 |
Avoidable expenditure on registration fee |
115 |
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3A.7 |
Andhra Pradesh State Trading Corporation Limited |
116-118 |
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3A.7.1 |
Extension of undue favour by releasing bank
guarantee |
116 |
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3A.7.2 |
Avoidable loss on hire purchase scheme |
117 |
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3B |
Statutory Corporations |
118-126 |
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3B.1 |
Andhra Pradesh State Financial Corporation |
118-122 |
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3B.1.1 |
Loss of Interest due to change in
accounting policy |
118 |
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3B.1.2 |
Loss in one time settlement of a loan |
119 |
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3B.1.3 |
Loss on disposal of seized assets |
120 |
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3B.1.4 |
Acceptance of collateral security
without hypothecation of title deeds |
121 |
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3B.2 |
Andhra Pradesh State Road Transport Corporation |
122-126 |
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3B.2.1 |
Construction of Mandal bus stations |
122 |
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3B.2.2 |
Construction of Bus bhavan |
124 |
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3B.2.3 |
Construction of Kalyanamandapam |
125 |
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3B2.4 |
Operation of Mayuri Air-conditioned Sleeper
coaches |
126 |
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ANNEXURES |
129-168 |
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Annexure
1 |
Statement showing particulars of up-to-date paid-up
capital, budgetary outgo, loans given out of budget and loans outstanding as
on 31 March 2002 in respect of Government Companies and Statutory
Corporations |
129-134 |
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Annexure
2 |
Summarised financial results of Government
companies and Statutory corporations for the latest year for which accounts were finalised |
135-142 |
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Annexure
3 |
Statement showing subsidy received, guarantees
received, waiver of dues, loans on which moratorium allowed and loans
converted into equity during the year and subsidy receivable and guarantees
outstanding at the end of March 2002 |
143-145 |
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Annexure 4 |
Statement showing financial position of Statutory
corporations |
146-148 |
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Annexure
5 |
Statement showing working results of Statutory
corporations |
149-151 |
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Annexure
6 |
Statement showing
operational performance of Statutory corporations |
152-154 |
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Annexure
7 |
Statement showing
department-wise break-up of outstanding Inspection Reports (IRs) |
155 |
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Annexure
8 |
Statement showing the department-wise draft
paragraphs/reviews replies to which are awaited |
156 |
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Annexure
9 |
Statement showing paid-up capital, investment and
summarised working results of 619-B companies as per their latest finalised
accounts |
157 |
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Annexure
10 |
Status of implementation of reform programme
against each commitment made in the Memorandum of Understanding |
158 |
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Annexure
11 |
Tariff fixed by APERC for DISCOMS to charge from
end consumers |
159 |
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Annexure
12 |
Statement showing the financial position of the
Singareni Collieries Company Limited for the five years ending 31 March 2002 |
160 |
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Annexure
13 |
Statement showing the working results of the
Singareni Collieries Company Limited for the five years ending 31 March 2002 |
161 |
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Annexure
14 |
Statement showing target and actual coal
production achieved by the Singareni Collieries Company Limited during the
last five years ending 31 March 2002 |
162 |
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Annexure
15 |
Statement showing the area wise details of break
even production of coal being more than the targeted production of the
Singareni Collieries Company Limited for the five years ending 31 March 2002 |
163 |
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Annexure
16 |
Financial
position of A.P. State Seeds Development Corporation Limited for five years
ending 2001-02 |
164 |
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Annexure
17 |
Working results of A.P. State Seeds Development
Corporation Limited for five years ending
2001-02 |
165 |
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Annexure
18 |
Statement showing the details of Targets and
achievements of Certified/Labelled and Foundation seed of paddy in last 5
years from 1997-98 to 2001-2002 |
166 |
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Annexure
19 |
Statement showing the details of
Targets and Achievements, seed transferred to other units and seed condemned
in respect of 6 units, in the last 5 years ending 2001-2002 |
167 |
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Annexure
20 |
Statement showing Total Sales, Sales
through Dealers and Company’s own outlets |
168 |
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Annexure
21 |
Statement showing the details of original ordered
quantities/values and subsequent revisions |
169 |
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