Annual Report & Accounts 2012-13

Powering West Bengal
ANNUAL REPORT & ACCOUNTS

2012-13
WEST BENGAL STATE ELECTRICITY DISTRIBUTION

COMPANY LIMITED
(A Government of West Bengal Enterprise)
Registered Office :
Vidyut Bhavan, Sector-II, Block-DJ, Bidhannagar,
Kolkata-700 091
WEST BENGAL STATE ELECTRICITY

DISTRIBUTION COMPANY LIMITED
BOARD OF DIRECTORS
EXECUTIVE DIRECTORS
NON-EXECUTIVE DIRECTORS
Narayan Swaroop Nigam, IAS
Malay Kumar De, IAS
Chairman & Managing Director
Anirban Guha
Hari Krishna Dwivedi, IAS
Director (RT & IT)
Kalyan Kumar Ghosh
Proshanto Banerjee
Director (Finance)
Debidas Datta
Sunil Mitra
Director (Generation)
Tapan Kanti Rudra
Rajat Kumar Majumder
Director (HR)
Ranjit Kumar Majumder
Tapan Kumar Majumdar
Director (Distribution)
COMPANY SECRETARY
P.K.Banerjee
STATUTORY AUDITORS
Mookherjee, Biswas & Pathak, Chartered Accountants
5 & 6, Fancy Lane, 5th Floor,
Kolkata - 700 001
COST AUDITOR
BCD & Associates,
Cost Accountants,
382, Jodhpur Park, Flat 4A, Kolkata - 700 068
BANKERS
State Bank of India
Punjab National Bank
Uco Bank
United Bank of India
REGISTERED OFFICE
Vidyut Bhavan,Sector II, Block-DJ,
Bidhannagar, Kolkata - 700 091
Wesbsite : www.wbsedcl.in

Contents
Sl.
No.
Subject
Page
Chairmans Message
1-3
Notice Convening 6th Annual General Meeting
Directors Report
Annexure to Directors Report
20-22
Management Discussion and Analysis
23-43
Report on Corporate Governance
44-57
Comments of the Statutory Auditors and the

Managements reply thereon
58-64
Comments of C&AG
65-66
Compliance Certificate
10
Independent Auditors Report
68-77
11
Statement of Technical Particulars
78-80
12
Category wise sales in MU & No. of Consumers as on 31.03.2013
81
13
Balance Sheet
82
14
Statement of Profit and Loss
83
15
Cash Flow Statement
84
16
Significant Accounting Policies
85-91
17
Notes on Financial Statement
92-130
5
6-19
67
ANNUAL REPORT & ACCOUNTS 2012-2013

Vidyut Bhavan, Sector II, Block DJ, Bidhannagar, Kolkata-700 091
CHAIRMANS MESSAGE
Dear Shareholders,
Welcome to 6th Annual General Meeting of the Company.
Awards and Recognition
In a first of its kind, the grading exercise of distribution utilities was undertaken by
rating agencies viz; ICRA and CARE along with the nodal agency, the Power Finance
Corporation Limited. The Ministry of Power released integrated ratings report of State
Discoms in March, 2013. It covered 39 Discoms in 20 states. It is extremely gratifying
to inform you that your Company achieved second highest rating and was praised for
its low dependence on the State Government for subsidy support.
Financial Performance
Your Company continued to register sustainable growth and performance during the
financial year 2012-13.The total operating income of your Company for the financial
year 2012-13 increased by 23.68 % to
17417.10 crores from
14082.30 crores for
the previous year. The post tax profit increased by 11.21 % to
73.48 crores for the previous year.
81.72 crores from
Hydro Electric and Pumped Storage Schemes

In keeping with the renewed focus on developing the Countrys hydro power potential,
your Company has placed greater impetus on hydro electric and pumped storage
proposals in the 12th and 13th Plan Period. It has been estimated that there is a
potential of conventional hydro power including canal falls up to 1500 MW and Pumped
Storage type Hydro up to 4800 MW. Detailed survey have already been launched and
Detailed Project Report (DPR) of Turga Pumped Storage Project (1000 MW) and Bandu
Pumped Storage Project (900 MW) in Purulia are under preparation. In the Darjeeling
District DPR preparation activities are in the final stages of completion for Teesta
Intermediate Stage and Teesta Low Dam Project. The two projects shall have a
combined capacity of 165 MW.
1
Rural Electrification
There are 37960 numbers of inhabited mouzas in West Bengal. Electrification
programme of 3930 mouzas containing BPL households were taken up under RGGVY
(10th Plan).In the 11th plan, 24,784 mouzas in 14 Districts of West Bengal are being
energized with nearly 23 lakh BPL connection under RGGVY programme. Your
Company is developing infrastructure for electrification programme in 10 Districts.
For the remaining 4 Districts, the implementing Agencies are CPSUs. The targeted
work of installation of infrastructure by WBSEDCL is almost complete except in the
Districts of Coochbehar, South 24 Parganas and Birbhum. The work is being expedited
and it is expected that all the pending energisation work would be completed within
the financial year 2013-14.
Under WBREP State Scheme, electrification of 8021 mouzas in 4 Districts of West
Bengal has been targeted to provide around 6 lakh BPL connections. The work of
installation of infrastructure is almost complete barring some Mouzas. Pending
energisation work would be completed within the financial year 2013-14.
The work under the scheme Sarba Griha Deep Prakalpa popularly known as Sabar
Ghare Alo is continuing in full swing from Special Backward Region Grant Fund
(BRGF). The scheme covers 28,214 inhabited mouzas of 11 backward Districts
especially for BPL as well as APL households, Commercial and Industrial
establishments.
Your Company has also taken up electrification work in 39 mouzas under Mathurapur,
Kultali, Gosaba and Pathar Pratima Block in Sunderban areas. Out of these 39 mouzas,
energisation has been completed in 13 mouzas. Installation of infrastructure in another
17 mouzas has been completed where mobilization of consumers and energisation is
in hand.
Under Integrated Costal Zonal Management (ICZM) Project, your Company has taken
up electrification work in 42 mouzas at Sagar Island with 100% grant (90% from
World Bank and 10% from Govt. of India). The entire work is expected to be completed
by the end of the financial year 2013-14.
Distribution reforms
Presently, power distribution is being maintained through approximately 12,000 Km
of 33KV feeders, over 1,35,000 Km 11KV network covering 455 nos. 33/11 KV substations having power transformer capacity of 6404 MVA. Over 1,25,00,000 consumers
are being served through 164596 nos. of distribution transformers with aggregate
capacity over 7814 MVA. The LT network length is over 2,00,000 circuit Km.
2
Creation of new infrastructure for reaching 100% households and associated

upgradation of existing system is being made through different Government funded
projects like R-APDRP, RGGVY, WBREP, SDB, BRGF, NEF etc. apart from various
Company funded projects.
R-APDRP Project
For reducing aggregate technical and commercial losses to 15%, the Company is
implementing a Union Government programme titled R-APDRP- Part A in 61 towns
under its licensed area. Power Finance Corporation of India is the nodal agency of the
programme.
It is heartening to inform you that your Company is the first among the utilities to
complete implementation of R-APDRP Part-A programme in all the 61 towns in June,
2013.
At present, R-APDRP covers only towns and cities with a population of over 30,000.
To maintain uniformity in operation, your Company is taking additional measures to
implement the same programme in other areas of West Bengal.
Looking Ahead
The power sector will continue to provide one of the biggest avenues to make significant
contribution towards the development of our countrys infrastructure. Your Company
will make all efforts and harness all resources to ensure sustainable growth and surge
ahead to attain still better heights of performance.
I would like to express my thanks and appreciation to my esteemed colleagues on the
Board and to all employees of WBSEDCL for their support and guidance and to all our
stakeholders for reposing continued confidence in the performance of the Company.
Yours Sincerely,
(Narayan Swaroop Nigam)

Chairman and Managing Director
West Bengal State Electricity Distribution Company Limited

Vidyut Bhavan, Sector II, Block DJ, Bidhannagar, Kolkata-700 091
NOTICE OF 6TH ANNUAL GENERAL MEETING

NOTICE is hereby given that the 6th Annual General Meeting of the Members of
West Bengal State Electricity Distribution Company Limited will be held at
the Registered office of the Company at Vidyut Bhavan, 7th Floor (Conference room)
Sector II, Block DJ, Bidhannagar, Kolkata-700 091 on Monday, the 23rd September,
2013 at 4 p.m. for the transaction of the following businesses:
ORDINARY BUSINESS
1.
To receive, consider and adopt the Annual Accounts of the Company for the
financial year ended 31st March, 2013, the Balance Sheet as at that date and the
Reports of the Directors and Auditors thereon.
2.
To fix remuneration of the Statutory Auditor of the Company to be appointed by

the Comptroller and Auditor General of India for auditing the annual accounts
of the Company for the year 2013-2014.
NOTES:
1)
A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS

ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF
HIMSELF AND A PROXY NEED NOT BE A MEMBER. PROXIES IN ORDER
TO BE VALID AND EFFECTIVE MUST BE DELIVERED AT THE
REGISTERED OFFICE OF THE COMPANY NOT LATER THAN FORTYEIGHT HOURS BEFORE THE COMMENCEMENT OF THE MEETING.
2)
In pursuance of Section 619(2) of the Companies Act, 1956(the Act), the Statutory
Auditors of a Government Company is appointed by the Comptroller and Auditor
General of India. Further, under Section 224(8) (aa) of the Act, the remuneration
of the Statutory Auditors of a Government Company shall be fixed by the Company
in a General Meeting or in such manner as the Company may in General Meeting
determine. Accordingly, the Resolution authorizing the Board of Directors of the
Company to fix the remuneration of the Statutory Auditors of the Company to be
appointed by the Comptroller and Auditor General of India for the year 20132014 is proposed for approval of the Shareholders.
Dated : 24.08.13
Registered Office:
Vidyut Bhavan,
Sector-II, Block- DJ,
Bidhannagar,
Kolkata-700 091.
By Order of the Board
(P.K.Banerjee)
Company Secretary
5
Directors Report
The Directors have pleasure in presenting their Sixth Annual Report together with
audited accounts of the Company for the financial year ended 31st March, 2013.
Performance Highlights:
Particulars
2011-12
(MU)
2012-13
(MU)
Sales
22201.275
25069.245
Purchase
30794.481
34111.650
1180.735
1250.298
Generation including PPSP

(Net of Auxiliary consumption)
Financial Review:
The summary of financial results of the Company for the year ended 31st March, 2013
is given below:
Particulars
2011-12
In Crore
2012-13
In Crore
12096.21
16763.89
2076.64
735.96
14172.85
17499.85
102.63
108.36
Income Tax
29.15
26.64
Profit after tax
73.48
81.72
Total Revenue Income

Regulatory Income
Total Income
Profit before tax
Ratios:
Particulars
2011-12
2012-13
Debt Equity Ratio
2.10
2.29
Current Ratio
1.41
0.99
Quick Ratio
1.32
0.93
Assets Turn Over Ratio
1.21
1.53
Interest Coverage Ratio
1.68
1.63
Debt Service Coverage Ratio
1.26
1.32
Stock Turn Over Ratio
3.65
3.27
Return on capital employed (%)
2.73
2.91
Return on Net Worth (%)
1.38
1.43
531654
570806
Net Worth (
In lakhs)
Share capital:
The authorized share capital of the Company was 4050 crores. The paid up share
capital of the Company as on 31.03.13 was 2256.74 crores. Entire share capital of
the Company is subscribed by the Governor of West Bengal and His nominees.
Deposits:
During the year, your Company did not accept any deposits from the public under
section 58A of the Companies Act, 1956.
Internal control systems and their adequacy :
WBSEDCL has a well established internal control system, which is commensurate
with the size and nature of its business and complexity of its operations. The company
strives to maintain a dynamic system of internal controls and procedures. The
Governance and compliance processes of the Company which includes the review of
internal control over financial reporting ensures that all the assets of the Company
are safeguarded and protected against loss and that all the transactions are properly
authorized, recorded and reported. An independent Internal Audit function at the
corporate level carries out risk focused audits across all businesses, enabling
identification of areas where risk management process may need to be improved. Audits
are led by professionally qualified Audit Managers and supported by experienced
personnel drawn from across the organization. The Management duly considers and
takes appropriate action on the recommendations made by the Statutory Auditors,
Internal Auditors and the independent Audit Committee of the Board of Directors.
Audit results are used by the management to create detailed action plans, where the
business has not yet achieved full compliance with the requirements. Key findings are
reported to senior management & summary reports are considered by the Audit
Committee of the Board.
Right to Information Act 2005(RTI) :
The Company has put in place RTI machinery for effective implementation of the
provisions of the RTI Act, 2005. Public Information Officer (PIO) has been designated
to dispose of the requests for information sought under RTI Act, 2005. An Appellate
Authority has been designated at Head Office to deal with the appeals received under
RTI Act, 2005.
Disclosures:
All related party transactions during the financial year ended 31st March, 2013 were
in the ordinary course of business and on arms length basis.
13
There was no materially significant related party transaction which may have potential
conflict with the interests of the Company at large.
New Town Electric Supply Company Limited (NTESL):
NTESL is a franchisee of erstwhile WBSEB (now WBSEDCL) for distribution of
electricity at New Town. The Company is an equity partner in NTESL with 50%
shareholding agreement. West Bengal Housing Infrastructure Development
Corporation Limited (WB HIDCO) is the other equity partner of remaining 50%.
The total equity participation of the Company in NTESL is
4.93 crores.
West Bengal Green Energy Development Corporation Limited (WBGEDCL):

The Company is an equity partner in WBGEDCL. The participation of the Company
in WBGEDCL is 35% of the Paid up Capital equivalent to 1.75 crores.
Power Exchange India Limited (PXIL):
The Company has executed a Share Transfer and Shareholders Agreement with
National Stock Exchange of India Limited, National Commodity & Derivatives
Exchange Limited and Power Exchange India Limited under which investment of a
sum of 4.00 crores has been made in PXIL.
Directors Responsibility Statement:
As required under Section 217(2AA) of the Companies Act, 1956, your Directors confirm
having:
a) followed in the preparation of the Annual Accounts, the applicable accounting
standards with proper explanation relating to material departures if any.
b) selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true
and fair view of the state of affairs of your Company at the end of the financial
year and of the profit of your Company for that period.
c) taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 1956 for
safeguarding the assets of your Company and for preventing and detecting
fraud and other irregularities; and
d) prepared the Annual Accounts on a going concern basis.
Compliance of Applicable Laws:
Your Company also maintains a proper system in place to ensure compliance of all
laws applicable to the Company. It follows the comply or explain principle.
14
Energy Conservation, Technology Absorption and Foreign Exchange Earning

and Outgo:
As your Company is not categorized as Scheduled Industry, particulars in respect of
Form A pursuant to Rule 2 of the Companies (Disclosure of Particulars in the Report
of the Board of Directors) Rules, 1988 are not required to be furnished. However, the
details in respect of form B pursuant to Rule 2 are furnished in Annexure-I.
During the financial year the Company incurred expenditure in foreign currency for
consultancy services and repair and maintenance of Purulia Pumped Storage Project
for
13.09 crore.
Key achievements:
During the current financial year your
Company has achieved the following benchmarks:
1.
Adjudged 3 rd best power utility organized by Tech India for outstanding

achievement in power sector reforms and customer service.
2.
Ranked 2nd among 20 states in Indias power distribution sector. A rating was
awarded to WBSEDCL for its high operational and financial performance.The
rating exercise was co-ordinated by the Power Finance Corporation under the
aegis of Ministry of Power and was executed by ICRA and CARE.
3.
Indian Chamber of Commerce has conferred third Best Utility award to

WBSEDCL in its 6th energy summit.
4.
Crossed the benchmark of 125 lakh customer base. 97 lakhs were rural consumers
and 28 lakhs were urban consumers.
5.
Additions of 419 km 33 kv line, 22088 km 11 kv line, 22502 km LT line. Erection

of 10 nos. 33/11kv sub-station evacuating 112 MVA power and Augmentation of
33/11 kv Sub-Station evacuating 201 MVA power were completed.
Particulars of Employees under Section 217(2A) of the Companies Act, 1956:

No employee of the Company is covered under section 217(2A) of the Companies Act,
1956 read with Companies (Particulars of employees) Rules, 1975 and the information
required to be furnished under the above Rules may be treated as Nil.
Management Discussion and Analysis:
The Annual Report also contains a separate section on the Management Discussion
and Analysis which forms part of this Report.
15
Corporate Governance:
Corporate Governance is a set of systems and practices to ensure that the affairs of
the Company are being managed in a way which ensures accountability, transparency
and fairness in all its transactions in the widest sense and meet its Stakeholders
aspirations and societal expectations. Your Company believes in maintaining the
highest standards of Corporate Governance and it is the Companys constant endeavour
to adopt the best Corporate Governance practices. Your Company has taken several
initiatives towards maintaining the highest standards of Governance and these include:
Independent Board
One third of the total number of Directors is Independent. The Audit Committee,
HRD and Remuneration Committee comprise majority of Independent Directors. The
Company has defined guidelines for the meetings of the various Board Committees.
The decision making process at the Board or Board Committees has been systemized
in an informed and efficient manner.
The Board critically evaluates the strategic direction of the Company, management
policies and their effectiveness. The agenda for Board include strategic review from
each of the Board Committees, a detailed analysis and review of annual strategic and
operating plans and capital allocation and Budgets. Additionally, the Board reviews
financial reports from Director (Finance) and other reports from each of the HODs.
Frequent and detailed interaction sets the agenda and provides the strategic roadmap
for the future growth of the Company.
A separate section of Corporate Governance forms part of this Report.
Agreement with M/s S.P. Global Solution Pte. Ltd., Singapore:
The Company has entered in to a technical consultancy agreement with M/s S.P. Global
Solution Pte. Ltd, Singapore. They continue to provide consultancy services in the
field of Network Planning Philosophy & Design Procedure, Management of Network
by Condition Monitoring and implementation of SCADA system.
Consumer profile:
In 2012-13, the Company served approximately 125 lakh consumers and its total power
consumption stood at 20534.076 MU. In terms of the category wise sales mix, the
domestic category of consumers accounted for 35.18%, share of agricultural consumers
was 6.06%, commercial category had a share of 14.93 %, the industrial consumers
accounted for 35.37% while others comprising of Traction, Street Lighting, Cold Storage,
P.W.W. and Jharkhand SEB accounted for 8.46%.
The total number of centralised and decentralized bulk consumers as on 31.03.13 was 3677.
16
IT initiatives:
The Company is presently implementing the following IT initiatives:
i)
ii)
iii)
iv)
Implementation of R-APDRP
Enterprise Resource Planning(ERP)
Spot Billing
Smart Grid
ERP:
As a part of ongoing capacity building programme, the company has decided to
implement Enterprise Resource Planning in a number of functional areas across
headquarter and field offices located all over West Bengal. The functional areas to be
covered under ERP are: Finance Accounting & Controlling, Human Resource
Management, Plant Management, Procurement and Material Management, Project
Planning and Project Management. AS IS STUDY is already completed and TO BE
STUDY is completed. Business Solution Design Simulation process is in progress.
Prepaid Metering:
At present, 4(four) customer care centres at Bidhannagar & New Town area, have
been brought under this scheme. As on 31.03.13 total 10160 nos. (1411 nos. of meters
for Bidhannagar & 8749 nos. of meters for New Town) of pre-paid meters have been
installed covering Bidhannagar-I,Bidhannagar-II, Bidhannagar-III & New Town
Electric Supply Company Ltd. Both single phase (4847 nos.) & three phase
connections(5313 nos.) have been provided. Two vending stations have been established
where consumers are able to produce the recharge coupons, one at Vidyut Bhavan &
another at New Town Electric Supply Company Ltd. On an average 12 lacs (approx.)
of recharge coupons are purchased per month.
Smart Grid:
The Company is in the process of implementation of pilot project of Smart Meters with
AMI facility in Siliguri Town under Smart Grid initiative of Indian Smart Grid Task
Force. In the pilot project, the Company has opted for monitoring and delivering power
through smart grid mechanism.
Staff Welfare:
Several steps were taken in the area of staff welfare during the year. The Company
had taken up a number of initiatives for ensuring better health of the employees and
their dependants by way of inclusion of renowned and reputed medical institutes in
its approved list of hospitals and conducting health check up camps and health
awareness programme.
17
The Company through its Staff Recreation Clubs participated in local and national
level sports events and cultural competitions as well as conducted annual sports. The
Company provides Canteen subsidy at various units for the welfare of the employees.
Industrial Relations:
The Company maintained healthy, cordial and harmonious relations at all levels.
Directors:
Shri Narayan Swaroop Nigam,IAS took charge of Chairman and Managing Director
of the Company w.e.f 13.08.13 in place of Shri Rajesh Pandey. The Board welcomes
Shri Nigam.
Shri Tapan Kumar Majumdar joined as Independent Director of the Company w.e.f
13.03.2013.The Board welcomes Shri Majumdar.
Shri Abhijit Bose, Director (Distribution), resigned from the Board w.e.f 14.11.12.
Shri S.N.Menon, Independent Director ceased to be a member of the Board w.e.f
13.03.2013. The Board expresses its sincere appreciation for the services rendered by
Shri Rajesh Pandey, Shri Bose and Shri Menon during their tenure as Directors of the
Company.
Statutory Auditors:
M/s Mookherjee, Biswas & Pathak, Chartered Accountants, Kolkata, were appointed
as statutory auditors of your Company for the financial year 2012-2013 by the
Comptroller and Auditor General of India. The Statutory Auditors have audited the
accounts of the Company for the year ended 31st March, 2013. Accordingly, the following
documents are annexed to this report :
a)
Audited accounts and Cash Flow Statement of the Company for the year ended
31st March, 2013.
b)
Auditors Report on the Audited Accounts of the Company for the year ended 31st
March, 2013.
c)
Comments of the Statutory Auditors and the Managements reply thereon.
d)
Comments of Comptroller and Auditor General of India.
e)
Statement of Technical particulars and Category wise Sales in MU and number of

consumers as on 31.03.2013.
Cost Auditor:
M/s BCD & Associates, Cost Accountants, 382, Jodhpur Park, Flat-4A, Kolkata-700068,
were appointed to conduct the audit of the cost accounting records of the Company for
18
the year 2012-13. The Cost Audit Report for the year 2011-12 was filed with the Ministry
of Corporate Affairs on 30.09.2012.
Secretarial Audit:
During the year Secretarial Audit was conducted by M/s S.K. Agrawal & Co., Chartered
Accountants, 4A, Council House Street, Kolkata 700001.
Acknowledgement:
Your Directors would like to express their appreciation for the assistance and cooperation received from Government of West Bengal, particularly the Department of
Power and Non-conventional Energy Sources, Ministry of Power, Govt. of India, West
Bengal State Electricity Regulatory Commission, Central Electricity Regulatory
Commission, PFCL, RECL, Banks and other Financial Institutions, Customers,
Vendors, Contractors and Consultants during the year under review.
Your Directors wish to place on record their deep sense of appreciation for the committed
services by the Executives, Staff and Workers of the Company.
Your Directors also thank the Statutory Auditors M/s Mookherjee, Biswas & Pathak,
Chartered Accountants, M/s BCD & Associates, Cost Auditors and the Comptroller
and Auditor General of India for their valued cooperation.
Date: 24.08.13
On behalf of the Board
Vidyut Bhavan,
Sector-II, Block - DJ
Bidhannagar,
Kolkata-700 091

19
Annexure I
Form B
Form for disclosure of particulars with respect to absorption
Research and development (R&D):
1.
Specific areas in which R&D carried out by the Company :

a. WBSEDCL in true sense did not take any R&D activity but took assistance
from National Productivity Council (NPC) towards preparing the base line
data, documents for assessment and study of Energy Consumption potential
particularly in 4 (four) sectors namely; Agriculture Pump Sets, Municipal Water
Works & Lighting Services, SME Clusters and Commercial Buildings in West
Bengal under the guidelines of BEE. On the basis of that study the following
action has been taken up by WBSEDCL as SDA (State Designated Agency)
through BEE fund.
(i)
Sector Specific Annual Energy Saving Plan and Establishment of

Revolving Investment Fund have been taken in following 2 (two) sectors.
1.
Commercial Buildings Sector including Government Buildings.
2.
Municipality Sector
One Contract Agreement between WBSEDCL and Energy Efficiency
Service Limited (EESL) has been made on 02/12/2011 for Preparation
of Sector Specific Annual Energy Saving Plan. Data collection has
already been done for 37 Commercial buildings out of 55 nos. and 12
nos. Municipal building out of 45 nos. of Sampled Buildings.
(ii) LOA placed for Policy preparation and DPR (Detailed Project Report)
preparation for 20 (twenty) industries including SMEs (Small & Medium
Enterprises) and Large Industries in the State on the following:
a)
National Productivity Council (NPC) for Rice, Tea, Cement and Jute
Sector and
b)
Indian Institute of Social Welfare and Business Management

(IISWBM) for Steel Rerolling and Sponge Iron Sector.
(iii) A number of awareness programmes were conducted on Energy

Conservation, such as
a.
Awareness Campaign among Tea Sector conducted at Siliguri on 18th

May, 2012 with over whelming response through Petroleum
Conservation Research Association (PCRA).
20
b.
Awareness Campaign on PAT (Perform Achieve and Trade)

Programme has been conducted at Kolkata on 12th July, 2012 along
with participation from BEE.
c.
Training programme for Designated Consumers, Energy Managers

and Energy Auditors as per Annual Action Plan through NPC.
d.
The Workshop on Energy Conservation measures in Commercial

Building (Connected load > 100KVA) has been conducted in
consultation with National Productivity Council (BEE nominated
Consultant) on 7th December, 2012 through NPC.
2.
Benefit derived as result of the above R&D: not yet derived
3.
Future plan of action: As mentioned above
4.
Expenditure of R&D: Does not arise

a. Capital
b. Recurring
c. Total
d. Total R&D EXPENDITURE as a percentage of total turnover
Technology absorption, adaptation and innovation:

1.
Efforts, in brief, made towards technology absorption, adaption and innovation :

a. Investment Grade Energy Audit (IGEA) for 32 (thirty two) nos. of Govt.
Buildings was completed and Final Report was submitted. Implementation of
Energy Audit at SBI Samriddhi Bhawan, Kolkata will be taken up after
completion of DPR for the year 2012-13.
b. Pilot LED (Light Emitting Diode) based Street Lighting Projects at Kolkata
Municipal Corporation (KMC) area has been completed.
c.
Project of LED village campaign at Dandirhat under Basirhat (Dist.) Division,

24 Parganas (North) in place of existing Incandescent Bulbs (ILBs) in the
total 200 nos. households by 2 nos. 5 Watt LED Bulbs and 50 Nos. Street
Lights by 24 Watt LED Street Lights. Work has been completed by 30th March,
2012.
d. Promotion of new technology of lighting by using Light Emitting Diode (LED)

Lamp, at Arambag 400/220/132/33 KV Sub-Station has been completed by 8th
August, 2012.
e. LED Street Light Project at Municipalities (namely, Dinhata, Jalpaiguri,
Coochbehar, Siliguri and Darjeeling District).
21
Physical verification of existing and future provisions has been conducted at

Darjeeling, Siliguri, Jalpaiguri, Coochbehar and Dinhata Municipalities.
Technical formalities such as EoI/Tender will be floated shortly.
f.
LED Village Campaign at Bakkhali Sea Shore under Namkhana Municipality.

Physical verification of existing and future provisions has been conducted at
Bakkhali Sea Shore. Technical formalities such as EoI/Tender will be floated
shortly.
g. Toll free telephone no. in each five zone & one IVRS (single no. for all consumer)
have been introduced for call docketing of power cuts or any problem.
h. Theft information may be docketed through one toll free telephone number.
i.
Bill down loading and e-payment facility through net banking has been
introduced to consumer of 123 CCC (through SAP) and will be introduced in
rest of the CCCs in the next 2 years.
j.
Call docketing through Companys official website for power failure or any
other complaint have been introduced.
k. Name, address, telephone no., e-mail id of Grievance Redressal Officers of

different districts is published in official website of the Company. Grievance
petition are also received directly through given e-mail.
l.
Spot billing is in operation in 224 CCCs.
m. Other payment gateway like Kiosk/SREI (Tathya Mitra)/ ECS are in operation.
n. Payment through Debit/ Credit card will be implemented shortly.
o. Customer satisfaction Survey through M/s Frost & Sullivan (India) Pvt. Ltd.
has been started from January 2013 and it will be continued for consecutive 3
years for obtaining Customer Satisfaction Index.
p. Spot billing would be introduced in another 63 CCCs in the near future.
2.
Benefit derived as a result of the above efforts, e.g product improvement, cost
reduction, product development, import substitution etc. :
a. Impact assessment study will be done after completing the above mentioned
job by adoption of new technology of lighting with Light Emitting Diode (LED)
Lamp. WBSEDCL will reduce energy consumption and system demand and
thus more consumers can be given connection by WBSEDCL.
Dated: 24.08.13

22
Management Discussion and Analysis

Forward-Looking Statements:
This Report contains forward-looking statements that involve risks and uncertainties.
Actual results, performance or achievements could differ materially from those
expressed or implied in such forward-looking statements. This Report should be read
in conjunction with the financial statements included herein and the notes thereto.
General overview of the Economy:
In the financial year 2012-13, the global economy improved slowly and did not recover
to the extent as was anticipated at the beginning of the year. Recession due to high
rate of unemployment, banking fragility, fiscal tightening and sluggish growth was
experienced in several European Countries. The US economy improved marginally,
driven mainly by housing and the consumer sectors, though the capital investments
remained sluggish. China experienced considerably slower growth. In India, economic
growth rate slipped to around 5% for the 2012-13 fiscal year compared with 6.2% in
the previous fiscal. The Indian economy faced the challenge of deceleration growth,
high inflation and fiscal deficit.
India's recent slowdown is partly rooted in external causes whereas domestic causes
are also important. The slowdown in the rate of growth of services in 2011-12 was at
8.2 percent, and in 2012-13 to 6.6 percent, contributed significantly to slowdown in
the overall growth of the economy, while some slowdown could also be attributed to
the lower growth in agriculture and industrial activities. But despite the slowdown,
the services sector has shown more resilience to worsening external conditions than
agriculture and industry.
However, it appears that in 2013-14 there would be gradual turnaround and estimated
growth rate in the fiscal would be in the region of over 6%.
Industry Structure and Developments:
The All India aggregate installed capacity of electric power generating stations under
various utilities as on 31.07.2012 was 2,06,456 MW comprising 39,291 MW of hydro,
1,37,386 MW of thermal, 4,780 MW of nuclear and 24,998 MW Renewable Energy
Sources (RES).
There is an overall shortage of power in the country both in terms of energy deficit and
peak shortage. Large number of power projects (XI and XII five year plans) is under
construction to overcome the power shortages and meet the growing energy
requirements in the country. The Eleventh Plan added 55,000 MW of generation
23
capacity which was more than twice the capacity added in the Tenth Plan. The Twelfth
Plan aims to add another 88,000 MW which means adding 17,500 MW per annum
over five years.
The capacity addition target for the year 2012-13 was set at 16,500 MW. As against it,
a capacity of 20,500 MW has been added in the financial year 2012-13. During 201314 a capacity addition of 18,432 MW comprising 15,234 MW of thermal, 1,198 MW of
Hydro and 2,000 MW of Nuclear power stations has been considered.
Key implementation challenges for India's electricity sector include ensuring
availability of fuel quantities and qualities, environmental clearances at State and
Central Government level, open access constraints, transmission constraints and high
Aggregate Technical & Commercial (AT & C) losses etc. in the country.
Since the formulation of Electricity Act, 2003, Government of India (GoI) has been
taking several initiatives and announced various regulations to strengthen the sector.
Significant GoI initiatives in recent times include Mega / Ultra Mega Power Generation
projects, Re structured Accelerated Power Development Reform Programme
(APDRP2), National Electricity Fund, etc.
The above continued initiatives of GoI would contribute significantly towards
strengthening the Electricity sector.
HR Activities:
Development of Human Capital to the fullest potential is one of the key areas towards
sustenance and development of the Company and the HR activities of the Company
are geared towards this objective. A committed & qualified workforce can meet any
challenge and push forward the agenda of the Company. The primary initiatives during
2012-13 are briefly described under the sub-heads:
A.
Manpower Planning / Recruitment
B.
Training of Officials
C.
Safety Issues
D.
Statutory Compliances
E.
Welfare Initiatives
F.
Corporate Social Responsibilities
G.
Vigilance Activities
H.
Health Issues
I.
Other Issues
24
A.
Manpower Planning / Recruitment:
Manpower Planning is a significant part for the growth of the Company. Proper
Succession Planning, timely action to fill up vacancies through promotion / direct
recruitment and meeting requirement for any new field of activity and optimalisation
of Human Resources has been the basic function area. Lowering of average age of the
workforce has been a significant objective. New recruitments made against existing
vacancies during the financial year have been 1348 (all classes taken together) (From
Campus Interview/Open market). Timely promotions to both technical & managerial
cadres have been duly effected.
Total manpower as on 31.03.2013 was 16940 (In addition 1687 employees are on
deputation to WBSETCL). Existing vacancies at the end of the year is near 2294.
About 1890 employees would retire during the Calendar year 2013. Women employees
in the Company during 2011-12 & 2012-13 have been just over 10%. 400 Appointments
under deceased dependent category have been made during the year.
B.
Training and Human Resource Development:
The principal objective of the Company has been to transform WBSEDCL through a
performance driven culture. The Company has continued to invest in and improve its
managerial and technical capabilities through the internal development of its own
employees.
To bridge functional skill gaps and to identify employees for focused learning in line
with the current and future needs of the Company and to update & upgrade technical
& management skills duly, various in-house training programmes were designed after
assessing training needs. Nominations were made during the year under review for
outside (Home & Abroad) training programmes. Our primary Training Partners are
CPRI Bangalore, NPTI Durgapur, CESC, SGPS Singapore, CIRE, ASCI, IIM Kolkata,
IIT Kharagpur, APTECH, WEBEL, XISS Ranchi etc.
During the year 2012-13 various training was imparted to 4394 officials out of target
of 4700 officials covering 93.5% of the target. The number of officials imparted training
during the year comprised about 26% of total existing officials/personnel in the
Company.
There are presently four Training Institutes through which training is imparted inhouse:
1. Corporate Institute at Vidyut Bhavan, Kolkata
2. EETI at Tribeni, Hooghly
3. Kalyani Junior Training Institute at Kalyani, Nadia
4. EETI at Rajarhat, Kolkata
25
The following Electrical Training Institutes (EETIs) are expected to function shortly:
1. Baharampore
2. Kharagpur
3. Bardhaman
4. Coochbehar
Expected to start functioning in the next financial year.
More Training Institutes viz. EETIs throughout the State might be established to
cater to the needs of the employees posted within five Distribution Zones. Besides, a
Management Training Institute at New Town, Kolkata will be set up for imparting
Training and Development Programme in respect of management personnel. All such
Institutes will have a Principal and staff set up with Class room, Hostel, Library,
Dining facilities and other necessary logistical supports.
A training policy has been formulated which ensures 7 days training to be imparted to
all the employees of the organization within a block of 2 years.
Publication of Training Calendar at the start of the financial year is a regular feature
of the Company. During 2012-13 a Training Bulletin (a quarterly publication) to
ventilate training feedback & training related issues has been introduced.
In addition, training was also organised for employees of other organisations. 240
employees nominated by WBPDCL were imparted training during 2012-13.
Another important feature has been the TQM (Total Quality Management) Initiatives.
During the year, 100 Customer Care Centres have been covered by way of formation
of Quality Circles. The activities were primarily on reduction of AT&C Loss,
Enhancement of Customer Care & Customer Satisfaction, Safety measures etc.
C.
Safety Initiatives:
Besides reduction of AT&C Loss and ensuring Consumer Satisfaction, ensuring safety
is also one of the highest priority issues for the Company. The Company had introduced
a Safety Management System for compliance of requirements of Safety Regulations &
Provisions. Policy functions formulated in respect of Health & Safety are being executed
with all out effort. Safety manual has been put in place which broadly lays down
scientific safety management for construction, operation and maintenance of electrical
plants and lines. Safety Films have been prepared and utilized for awareness building/
education.
Safety is considered as an integral part of work process to ensure safety for employees
and contractor labour as well as general public. Safety training and awareness
programmes are being conducted through Electrical Employees Training Institutes in
regular manner. Contractor labourers are also being brought under safety training
26
with all facilities. Special seminars, workshops have been organized for Public Safety
awareness.
For further awareness building campaign, posters have been displayed at Customer
Care Centers, use of National and Local Electronic Media for awareness building is
being considered. Special publicity campaign is also being formulated.
Fast track action has been introduced and policy has been adopted against noncompliance of safety regulations at work sites to achieve Zero Accident / accident free
organization.
With all the concerted & collective efforts, there has been a 20% reduction of fatal
victims with overall 10% reduction in incidence of accidents in 2012-13 compared to
2011-12.
Performance of officials in the field of Safety have been made part of Performance
Appraisal Report and in cases of lapses Departmental proceedings are initiated.
Recognition of extra-ordinary service in the field of Safety by way of Prizes is also
being considered.
Other initiatives have been -
D.
A Disaster Mitigation Plan has been prepared.
Mock Drills for Fire Fighting at Corporate Office held.
Security Guards placed at different installations (Stores/Sub-Stations/CCCs/

other offices).
Statutory Compliance:
All out concerted and collective effort is ensured for observance of Statutory Compliances
in the Company in its every Wing.
A Data Bank of all relevant particulars of contractors and contract labour is being
developed for proper monitoring of Statutory Compliance for effective contract labour
management. Appropriate administrative action is initiated promptly for any noncompliance detected.
E.
Welfare Initiatives:
Various Welfare initiatives for the Company employees have been put in place during
the year.
These were:
l
Action related to Introduction of Farewell Gift to Company officials on

superannuation w.e.f. 01.04.2013.
27

l
Action related to Introduction of Medical Insurance Coverage for retired

employees of the Company.
Actions related to revision of CSR Policy of the Company.
Introduction of Holiday Home at Digha. Continuation of Holiday Home at

Haridwar, Mumbai, Vellore.
The Company through its Staff Recreation Clubs participated in local and
national level sports events and cultural competitions as well as conducted
annual sports.
The Company provides Canteen subsidy at various units for the welfare of the
employees.
The Company undertook several steps in the area of staff welfare during the year.
F.
Corporate Social Responsibilities:
The Company provided grant under CSR Scheme on various social causes viz. providing
new service connection at the residence of poor and meritorious students, shifting of
HTOH line from the premises of Schools, Hospitals etc., providing exercise books,
pencils, erasers etc. to the poor students of interior villages, construction of school
buildings etc.
In addition, financial package was allowed to 51 nos. of land losers of Rammam HEP
and financial help was extended to the GTA towards development of tourism, providing
water supply to some surrounding villages and other developmental works. Break up
of grant sanctioned was as under:
a.
4.08 crore for 51 land losers @
b.
1.00 crore for proposed water supply scheme
c.
2.00 crore for proposed tourism & school building
8 lakhs per head
The CSR Policy is being revised through a Committee. The revised CSR Policy is
proposed to be effected during the next financial year.
Mandatory Corporate Social Responsibility Activity:
1.
Offering employment opportunity to persons who are physically challenged

(suffering from various disabilities such as visual, orthopedic disability etc.) in
compliance with various mandatory guidelines issued by the Government from
time to time.
2.
Providing necessary measures of social security to women employees of the

Company in terms of allowing maternity benefits/Child Care Leave as applicable
28
under various statutory provisions or as may be decided by the Company from

time to time.
3.
Offering necessary social security benefits to the employees of the Company in the
form of benefits under Contributory Provident Fund Scheme, payment of gratuity
etc. as may be applicable from time to time under various statutory provisions or
otherwise under the Companys policy.
4.
Offering necessary facilities to the employees and their dependent family members
in the area of health and medical facilities as is outlined in various policies of the
Company.
5.
Offering employment opportunity to members of Scheduled Caste, Scheduled

Tribes, other Backward Classes, in conformity with various guidelines of the
Government as may be applicable from time to time.
6.
Providing crop compensation to the Project affected people of Little Rangit Hydro
Electric Plant.
G.
Vigilance:
Vigilance Department of the Company plays the role of watch dog so as to ensure that
the laid down systems and procedures are not tampered with for any personal gain or
benefit. It deals with cases relating to the dereliction of duties, malpractices and corrupt
practices involving moral turpitude, defalcation of cash, misappropriation of stores,
forgery of documents, false claim, theft of electricity, acceptance of illegal gratification
etc. It also acts as office of the Board Committee for consideration of Appeals and
processes the appeal petitions submitted by the individual appellant. The declaration
of assets in respect of class-I & II officers of the Company are maintained by this
department.
Corporate Vigilance department sporadically undertakes anti-corruption drives by
laying traps to catch the miscreants particularly the employees or officers of the
Company red handed while accepting illegal gratification in cash or kind. It also
undertakes consumer survey seeking their opinion in respect of the services rendered
by the employees, as a measure of preventive vigilance.
It believes in the principle of natural justice and punishing the guilty. During 201213, punishment was imposed on 56 officials (Class-I: 8, Class-II: 10, Class-III: 32,
Class-IV: 6) against proceedings involving 58 employees.
H.
Health:
Managing health and safety is an integrated and systematic approach. The Company
is continuously endeavoring to provide safe and hygienic working conditions for its
29
employees as well as contractual workers by establishing safety goals, demanding

accountability for safety performance so that it can be converted into accident free
Company. To ensure a healthy Company, health of each individual employee is to be
ensured. For this, the Company strives to:
v Make arrangements to provide medical facilities to its employees at different
work places.
v Reimbursement of expenses incurred by an employee for securing medical
services available at super specialty hospitals and nursing Homes for disease
of critical nature for the employee and his/her family members.
v Health check up at an interval of three years after an employee attains the
age of 40 years.
v Grant of solatium to an employee/Contractor/General Public who falls victim
of an accident while working on the system etc.
v To provide cost of medical insurance/ESI premium to service providers as
statutorily required.
v To encourage its employees to practice safe health & culture, undertake
promotional activities including games and sports, organizing special seminars
etc. for maintaining good standard of health for its employees.
v During 2012-13, 11 (Eleven) Medical Board were organized for 62 employees.
Patients attended in Medical Unit were 7352 in numbers.
Medical Reimbursement made
Medical Advance made =
8.43 Crore. Employees/Ward covered = 1908
6.70 Crore. Employees/wards covered approx.600)
v Introduction of feedback mechanism to judge quality of service provided by

approved Hospitals / Nursing Homes / Institutes.
v Particulars of dependants of the employees have been captured through a
customised software package to facilitate reimbursement of medical expenses.
v A breast cancer awareness programme for Women employees was organised.
I.
Other HR Activities:
v Company took part in Pragati Utsav-2012, IITF 2012, Bengal Builds 2012,
Infocom 2012, India Power Awards 2012, Bengal Leads 2012 etc.
v Organized Tableau on Republic Day & Independence Day.
v Printing of in house journal titled Vidyut Barta Monthly, publication of Yearly
Corporate Plan; Positive News Coverage during the year 445.
30
v Payment of ex-gratia grant to the pensioners / family pensioners.

v Payment of ex-gratia grant/festival advance to the employees.
v Revision of daily rate of wages of Part Time Sweepers (PTS) & Security Guards.
v Conducting Prize Giving Ceremony for appreciating excellent performance in
2012-13 by wards of employees.
v Observed 150th Birth Anniversary of Rabindranath Tagore/Celebrated the
150th Birth Anniversary of Swami Vivekananda/Observed International
Women's Day.
v Winning Championship of Veterans Football Tournament-2013.
v Felicitated winning team members of 38th All India Electricity Football
Tournament.
v Designated State Public Information Officers and First Stage Appellate
authorities, at the District Level.
v Endeavour has been taken for review and rationalization of House Rent
Allowance for occupation of departmental quarters by the employees posted at
Project Site Offices etc.
v Re-constitution of Board of Trustees of WBSEB Employees Contributory
Provident fund.
v Introduction of usage of ID and password to access employee information under
web portal of WBSEDCL.
v Revision of Electricity Allowance for the employees.
v Schedule of Delegation of Power has been modified.
v Validity of MOU between WBSEDCL and UBI to facilitate the employee
towards drawal of housing loan under tie-up arrangement is extended upto
November, 2017.
v Standing Committee for processing of queries/clarifications relating to
interpretation and implementation of provisions of ROPA-2009 has been
reconstituted.
v Provision of Hill Compensatory Allowance and Winter Allowance has been
segregated and rationalized.
Development of KPI and scorecard:
Performance monitoring system is being developed based on balanced scorecard
approach. Key Performance Indicators (KPI) have been developed for each of the levels,
31
namely Corporate, Directorate, Departments and finalization of the KPIs for the field
level units is under process.
Policy formulation:
During the year under review the following policies/guidelines were framed:
i)
Modification of accounting policy on revenue recognition and formation of

policy on transaction in foreign currency
ii)
Hedging Policy
iii)
Guidelines for recruitment of sports persons
iv)
Amendment of policy on waiver of AMGR and LPSC
v)
Amendment of Holiday Listing and Purchase policy and General Conditions

of Contract
vi)
Modified policy on realization of Security Deposit from Central and State

Govt. Departments for all categories of consumers
vii) Scheme for Farewell Gift to the retired employees

viii) Accounting policy on Physical Verification of Fixed Assets
ix)
Accounting policy for Swapping of Power
x)
Risk based Internal Auditing planning process policy
Strengths and Opportunities:

l
Scope of considerable growth of Hydel Power and Non-Conventional Power
Reduction of AT&C Loss and improvement in Distribution system and collection

efficiency
Diversification and strategic tie-up
Human Resource Development practices
Operational capabilities and practices
Threats:
l
Sharp increase in power purchase cost due to hike in fuel prices
Time gap of recovery of cost through tariff
Accumulation of Regulatory Assets
Loss in trading opportunity

32

l
Threat of Open Access
Changes in regulatory requirement and compliance thereof
Distribution System:
Development of power infrastructure
To meet the growing demand of power, distribution infrastructure was strengthened
for supply of quality power to the consumers during the financial year under review
by:
i)
Laying of 419 km 33 kv line
ii)
Laying of 22088 km 11 kv line
iii)
Laying of 22502 km LT line
iv)
Erection of 10 nos. 33/11kv sub-station evacuating 112 MVA power
v)
Augmentation of 33/11 kv Sub-Station evacuating 201 MVA power
Strengthening of Distribution System

For further strengthening of distribution infrastructure, the following addition from
operation and maintenance is envisaged in the year 2013-14:
i)
Laying of new 440 km of 33 kv line
ii)
Laying of new 2500 km of 11 kv line
iii)
Laying of new 2500 km of LT line
iv)
Erection of 15 nos. of new 33/11 kv Sub-Stations evacuating 209 MVA power
v)
Augmentation of 33/11kv Sub-Stations evacuating 250 MVA power
Mobile Maintenance Unit

Mobile Maintenance Units have been engaged for quick restoration of power supply in
case of interruption/breakdown in the system.
Condition Monitoring for preventive maintenance
The Condition Monitoring Team at Head Quarter has conducted inspection of 146
nos. of 33/11 kv Sub-Stations in the years 2011-12 and 2012-13 and advised for different
preventive measures to avoid breakdown/interruptions. Further monitoring of 100
nos. of 33/11 kv Sub-Stations have been planned in the year 2013-14.Other than Head
Quarter, Condition Monitoring Units have started functioning in Siliguri and Kolkata
Zones.
33
Transformer Transaction Management System

For preservation of detailed records of all distribution transformers and to capture
their transactions,Transformer Transaction Management System software has been
developed by M/s PwC Pvt.Ltd. The system has already started functioning.
Testing of CTs and PTs
To eliminate dependency and for the purpose of expediting testing, facility for testing
of CTs and PTs of different ratings has been established at Distribution Testing
Department.
Development of new software
Consultancy services of IIT, Kharagpur has been sought for development of software to:
i)
Study of voltage regulation at any point in the power system
ii)
Compute technical losses in the lines
iii)
Decide the time and the probable location of erection of new 33/11kv substation
iv)
Ascertain the time of erection of distribution transformer.
RGGVY :
The Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) is a Government of India
funded Project. It covers 14 Districts of West Bengal and the executing agencies are
WBSEDCL and Central Public Sector Undertakings (CPSUs). WBSEDCL is entrusted
with ten projects in the district of Coochbihar, Darjeeling(SMP), Dakshin Dinajpur,
Malda, Nadia, Hooghly, Howrah, Birbhum, Burdwan and South 24 Parganas. The
district of Uttar Dinajpur, Murshidabad, Paschim Medinipur (only Kaharagpur Block(I & II), Paschim Medinipur(other than Kharagpur Block) and Purulia have been
entrusted to CPSU viz; NTPC, PGCIL and NHPC are functioning as the implementing
agency in this project. In this project, BPL connection to be effected would be around
23.23 lakh. REC has accepted proposal for extension of the RGGVY 11th plan upto
30.09.13. 88.64% BPL service has been completed up to 31.03.13.
West Bengal Rural Household Electrification Programme under WBREP:
The State of West Bengal has undertaken Rural Electrification work in the four districts
with its own fund in the districts of Jalpaiguri, North 24-Parganas, Purba Medinipur
and Bankura. The target of the project was to cover 6.07 Lakh households. 8021 villages
will be electrified under this project. Under WBREP 86.86% BPL service has been
completed up to 30.03.13.Entire job is expected to be completed within 30.09.2013.
34
West Bengal Rural Household Electrification Programme (Supplementary):

Govt. of West Bengal has sanctioned a fund of 350 Crores for both West Bengal
Rural Household Electrification Programme (Supplementary) and West Bengal
Household Electrification Programme (Balance). To cover habitations with a population
less than 100, one supplementary scheme has been taken up at a cost of 126.33
Crores. Through this project 2802 villages and 1.11 lakh BPL service connections will
be covered. The job under WBREP is expected to be completed by 30.09.13. Up to
31.03.13 progressive achievement of 43.24% BPL service has been completed.
Rural Electricity Distribution Backbone Scheme (REDB-I & II):
To cope up with rapid and enormous rural electrification work in West Bengal, it is
expected that 30 lakh (approx) household will be electrified. To provide uninterrupted
and quality power to the consumers, 43 nos. of new 33/11 KV Sub-stations (34 under
REDB-I & II and 9 nos. under RGGVY XITH Plan) are to be installed with augmentation
of capacity of 28 nos. existing 33/11 KV Sub-stations. WBSEDCL has provided fund
from its own source for 34 nos. new 33/11 KV Sub-Stations and for augmentation of 28
Nos. existing 33/11 KV Sub-Stations, so that work at all District could start
simultaneously without any discrimination. Augmentation of 28 nos. existing 33/11
KV Sub-Stations has been completed. 5 nos. 33/11 KV Sub-Stations have been
commissioned and 19 nos. 33/11 KV Sub-Stations will be commissioned within
December, 2013. Possession of land for balance 19 nos.of sub-stations is in different
stages.
Sundarban Development Works:
Sundarban is a virtually undaunted vast area and grid power supply is not available
there. The area comprises 13 Blocks in South 24 Parganas and 6 Blocks in North 24
Parganas district where rural electrification work is in progress under the WBREP.
Infrastructure development in the remote area of Sundarban has become very difficult.
Transportation of pole to the working place has been a task job as these are to be
transported through country boats for presence of several rivers in the area. At few
places, power is supplied through experimental non-conventional power (Solar Cell).
It supplies few watts of electricity for a very short time and is very unreliable. Total 39
Nos. mouzas are to be electrified in Gosaba Island, Pathar Pratima Block. Estimated
cost of WBSEDCLs scheme is 28 Crores.
Sagar Island
In Sagar Island, power had been supplied for about 4 hours in the evening by diesel
generator set. Supply from grid power had been established from September, 2011
35
and round the clock power is now supplied at Sagar Islands. At present 1241 nos.
domestic, 1908 nos. commercial, 16 nos. industrial, 5 nos. short time irrigation, 1 no.
P.U and 1 no. educational consumers are getting power in Sagar Island. WBSEDCL
has formulated scheme for electrification of 42 villages in Sagar Island. One project is
being processed for implementation with the fund assistance of 35 Crores from World
Bank through Integrated Coastal Zonal Management.
Special Backward Region Grant Fund (BRGF):
In the 10th Plan, Mouza Electrification Programme was taken up under Rajeev
Gandhi Grameen Vidyutikaran Yojana (RGGVY) in a massive scale. In the 11th
Plan too under the same scheme and also under West Bengal Rural Electrification
Programme (WBREP), intensification Programme was taken up. This could provide
only electrification for about 55% of the total rural households. The poor coverage
of electrification in the State was identified by the State Government as one of
the major area for policy intervention. While per capita electricity consumption
is 550 units for the State of West Bengal; the average consumption in the eleven
backward districts of the State is only about 168 units. The coverage of households
in these districts is also comparatively poor. Against the state coverage of 55%,
the coverage in these 11 districts is only about 42%.The State Govt. has identified
universal electrification of households as a topmost priority. Therefore, a new
Project titled Sarba Griha Deep Prakalpa (Sabar Ghare Alo) was prepared for
providing 100% electrification in the eleven identified backward districts of West
Bengal namely Dakshin Dinajpur, Malda, Murshidabad, Birbhum, South 24
Parganas, Uttar Dinajpur, Purulia, Paschim Medinipur, Jalpaiguri, Purba
Medinipur and Bankura.
The said project report was submitted by the Company to the Planning
Commission through Government of West Bengal. The Empowered Committee
headed by Member Secretary, Planning Commission approved the proposal of
Power Project with an estimated cost of
2511.10 Crores as Central Assistance
to the State Government for power projects under special plan for West Bengal
under BRGF. During the financial year 2012-13, an amount of
620 Crores has
been sanctioned for this purpose. Up to 31.03.13, progressive achievement of
14.97% has been reached.
National Electricity Fund (interest subsidy) Scheme [NEF]
In order to strengthen Distribution Network and to facilitate quality power supply to
the Consumers, Schemes have been framed for six projects under National Electricity
Fund (interest subsidy) Scheme [NEF] of GOI. Under the Scheme, the financial
assistance at subsidized rate of interest for six projects which were not covered under
36
R-APDRP & RGGVY will be available from RECL, the Nodal Agency appointed by the
MOP, GOI for operation of the Scheme.
The Company has taken on hand execution of such 6(six) projects in the state of West
Bengal at a total scheme cost of 1040.11 crore. The project completion time will be
3 years from the date of sanction.
The estimated benefits from the projects are:
1)
Enhancement & strengthening of Distribution Network.
2)
Outage of Power supply will be reduced with increase in revenue earning.
3)
It will be possible to give better customer service.
4)
Considerable savings in view of reduction of Technical losses.
Implementation of R-APDRP Project:

The R-APDRP is a Union Government initiative aimed at reducing aggregate technical
and commercial losses across state-owned distribution utilities to 15%.The programme
is being implemented across two broad segments, focusing in IT implementation(Part
A) and system strengthening(Part B).Power Finance Corporation of India is the nodal
agency of the programme.
The Company is implementing a project under R-APDRP (Part A) in 61 towns under
licensed area of the Company. The Project scope is preparation of baseline date for
project area covering consumer indexing, GIS mapping, metering of distribution
transformers and feeders, automatic data logging of all DTRs and feeders below 33KV.
This IT initiative also includes adoption of IT enabled consumer service centre etc.
Under this project centralized data centre has been established at Bidhannagar,
Kolkata and the disaster recovery centre has been established at Berhampore
respectively. Under this programme, a major part of the initiatives has already been
rolled out. 53 nos. of towns under R-APDRP Part-A were made go-live by 31.03.2013
and all 61 towns were made go live by 8.6.2013. WBSEDCL is the first among the
utilities implementing R-APDRP Part-A programme, to complete the go live of all its
R-APDRP Part-A towns.
At present, R-APDRP covers only towns and cities with a population of over 30,000.
To maintain uniformity in operation, the Company is taking additional measures to
implement the same programme in other areas of West Bengal.
Spot Billing:
During the year spot billing system has been implemented for 224 Customer Care
Centres. The spot billing will be rolled out in another 63 Customer Care Centres in
2013-14.
37
Online Payment of Electricity Bills through Web Portal:

E-payment solution has been introduced in the Company to provide better consumer
service in respect of bill payment through internet by the L&MV consumers. The
consumers are able to pay their electricity bills at any time at their convenience in the
web portal of the Company. The electricity bills can be paid through the following
payment modes:
i)
Credit Card
ii)
Debit Card
iii)
Internet enabled Bank Account
The online payments are processed through secured payment gateways to protect the
information.
Video Conferencing:
The Company has implemented Video Conferencing facility between its Corporate
Head Quarter and Zonal Manager Offices, Regional Managers Offices and Divisional
Managers offices for better monitoring and visibility of business processes.
Hydel Wing:
A.
Running Power Stations:

Installed capacity (MW)
1076.548 MW
1. Purulia Pumped Storage Project
- 4 225 MW ( 900 MW )
2. Teesta Canal Fall Hydel Project
- 3 3 7.5 MW (67.5 MW)
3. Rammam Hydel Project, Stage-I
- 4 12.75 MW (51 MW)
4. Jaldhaka Hydel Project, Stage-I
- 4 9 MW (36MW)
5. Jaldhaka Hydel Project, Stage-II
- 2 4 MW (8 MW)
6. Massanjore Hydel Project
- 2 2 MW (4 MW)
7. Other Small Hydel Projects

(i)
- 2 1 MW (2 MW)
Rinchington Hydel Project
- 2 1 MW (2 MW)
(ii) Little Rangit Hydel Project
(iii) Mungpoo Kalikhola Hydel Project - 3 1 MW (3 MW)

(iv) Sidrapong Hydel Project
- 3 0.2 MW ( 0.6 MW)
(v) Fazi Hydel Project
- (2 .4 + 1 .448 + 1 1.2) MW
= 2.448 MW
38
B.
Generation Achieved against Target :
During 2012-13 Rammam Hydel Project Stage-II crossed the annual generation target
(as set by CEA) by 6.56%. The Small Hydel Power Stations in Darjeeling district
suffered a setback due to severe earthquake in 2011-12. However,the overall total
generation from all the Hydel units in 2012-13 increased by 8.98 % than 2011-12.
The repairing work of Mahananda Main Canal has been started by the Teesta Barrage
Project Authority, I&WD to accelerate the Generation in Teesta Canal Fall HEP which
is likely to be completed in the financial year 2013-14. The part of the required fund is
being provided by WBSEDCL.
Generation at a glance :
Name of the Power Stations
Generation figure for 2012-13

Target fixed by CEA
Achieved
209 MU
222.714 MU
Stage-I (4x9 MW)
160 MU
117.762 MU
Stage-II (2x4 MW)
capacities are less
Under shutdown
than 25 MW
12.549 MU
Rammam HP, Stage-II

(4 x 12.75 MW)
Jaldhaka HP
Small HP
PS-I (3x7.5 MW)
Teesta Canal Fall HP
PS-II (3x7.5 MW)
Do
PS-III (3x7.5 MW)

Massanjore HP (2 x 2 MW)
109.539 MU
Do
Total
C.
3.482 MU
466.046 MU
Implementation activities of different on-going Project:
The R&M and Augmentation work at Jaldhaka Hydel Project (Stage-I) has been
completed. One 9 MW capacity new unit has been installed and commissioned. The
renovated & modernized units of JHP, Stage-I are also running steadily.
The entire work of Lodhama Interconnection Scheme under RHP Stage-II was
completed in the month of January 2012. The scheme has been formally commissioned
by the Honble Chief Minister of West Bengal on 29.01.2013.
Present status of different schemes:l
Work of Lodhama Interconnection Scheme under RHP, St.-II has been

completed.
39

l
Work of Jaldhaka Augmentation Scheme (1 x 9 MW) completed. The Unit is

running satisfactorily.
Renovation and Modernisation work of Jaldhaka Hydel Project Stage-I

(3 x 9 MW). Work has been completed (except SCADA). All the units are
running satisfactorily.
Rammam Intermediate Stage Hydel Project (2 x 6 MW)-
i)
Design & Engineering work is in progress.
ii)
Acquisition of land is in process.
Pedong Small Hydel Project (2 x 1.5 MW)i)
Design & Engineering work is in progress.
ii) Acquisition of land is in process.

l
Refurbishment of 2X4 MW Jaldhaka Hydel Project, Stage-II(i)
D.
Refurbishment work of both the Units are in the final stages of

completion. Commissioning of one Unit is expected by September, 2013
and the other unit by March, 2014.
Ongoing Survey and Investigation Activities for New Hydel Projects :
To enhance the Hydro power / Pumped Storage generation capacity in West Bengal
during the 12th and 13th plan period, the following projects have been taken up for
detailed Survey and Investigation activities.
Status of Detailed Survey and Investigation (DSI) activities:Estimated
Capacity
in MW
Sl.
No.
Hydel / Pumped
Storage Project
1.
Teesta
Intermediate
Stage HEP
84
2.
TLDP- I & II
(combined) HEP
81
3.
TLDP V HEP
80
River/
Location
Teesta river,
Darjeeling
Present activities /
Future programme
l Detailed investigation completed
l Preparation of Detailed Project
Report (DPR) is in finalization

stage
Bari Rangit
l Detailed investigation is in
river, Darjeeling
completion stage
l Preparation of Detailed Project
Report (DPR) is in finalization
stage
Teesta river,
Darjeeling
l Pre-Feasibility Report (PFR)
completed
l 1st Stage TOR clearance by
MOEF is awaiting.
40

Estimated
Capacity
in MW
Sl.
No.
Hydel / Pumped
Storage Project
4.
Rammam
Stage-I
HEP
56
5.
Turga Pumped
Storage Project
1000
Present activities /
River/
Location
Future programme
Rammam river, l Prefeasibility Report completed

Darjeeling
l Detailed
Geo-technical
investigation completed
l DPR is under preparation
Turga nala,
Purulia
l Detailed Survey & Investigation
activities have been taken.
l Local Consultant has been
engaged for preparation of

Detailed Project Report.
l Bidding process is on for
engagement
of
Foreign
Consultant for preparation of the
DPR in association with Local
Consultant
6.
Bandhunala PSP
900
7.
Rammam
Ultimate Stage
24
8.
Farakka Barrage
HEP
125
E.
Bandhu nala,
Purulia
PFR completed
Rammam &
Draft PFR is under review
Little Rangit
river, Darjeeling
Ganga River/
Murshidabad
PFR is (Desk-top Study) under

preparation
Purulia Pumped Storage Project :
900 MW (4x225 MW) Purulia Pumped Storage Project was developed at Ayodhya hills
in the district of Purulia with financial assistance of the Japan International
Cooperation Agency (JICA, erstwhile OECF and JBIC), Japan. The main Project
activities were started in March 2002 & completed within the Target Schedule of 31
December 2007. All the 4 (four) units were put on commercial operation within 20072008.
Progress & Achievements during 2012-13:
Total Generation achieved = 797.495 MU
Average Cycle Efficiency achieved = 78.22%
Average Plant availability factor achieved = 92.77%
Power Trading And Regulatory :

Power Trading and Regulatory has been classified into the following functions:a)
Power Trading
41
b)
Inter utility sale of Power
c)
Swap of power through banking
d)
Bulk power purchase from Generators / Traders
e)
All regulatory matters including tariff
f)
Work of Area Load Despatch Centre
Power Trading :
During the financial year 2012-13 the Company traded/exported surplus energy outside
State /Region to the tune of 1344.333 MU and revenue earned from trading was
509.74 Crore.
Inter utility sale of Power :
During the financial year 2012-13 the Company sold energy to inter utilities (i.e.
CESC,DPL,DPSCL & Govt. of Sikkim) to the tune of 2089.22 MU and revenue earned
from such sale was 1126.62 Crore.
Sale of power in UI mode:
During the financial year 2012-13 the Company sold power through UI mode to the
tune of 379.626 MU and revenue earned from such sale was 75.55 Crore.
SWAP of power through banking :
During off-peak hours the Company mostly has surplus energy. But for a certain period
there remains a deficit of power. Not only during peak period but also during normal
period in summer season there is mismatch between generation availability and
demand. Apart from that the situation becomes more difficult due to coal shortage,
water scarcity and non-availability of power from State Sector and Central Sector to
the extent of its full share. To mitigate the deficit during such situations the Company
has decided to go for energy banking through SWAP of power in a reasonable manner
or otherwise deficit of power would be mitigated through short term purchase of power
which would ultimately increase the overall power purchase cost.
During the financial year 2012-13 the Company has banked power through Swap to
the tune of 1089.009 MU.
During the financial year 2012-13 the Company has drawn 1263.604 MU power through
swap.
Bulk power purchase from Generators / Traders :
To supplement its own generation, the Company had imported bulk quantum of power
42
from Central Sector and State Sector Generating Utilities through long term agreement.
The Company also imported some quantum of power from non-conventional energy
sources to meet its renewable purchase obligation. Besides above, the Company also
purchased some quantum of power from different electricity traders/ power exchanges
to meet the power shortage in the system.
Total quantum of energy imported by the Company during 2012-13 was 33554.455
MU.
Besides above the Company also drew power through UI mode to the tune of 549.532
MU.
Regulatory :
Performance/Achievement during 2012-13:
1)
Application for FPPCA for the year 2011-12 was submitted.
2)
Application for Annual Performance Review (APR) for the year 2011-12 was
submitted.
Utilisation of Non-Conventional Energy Sources:

Energy purchased by the Company from different non-conventional sources:
Sl. No.
Type
No. of
Generator
Contract
Quantum (MW)
Energy
Supplied (MU)
2012-13
2012-13
2012-13
Mini Hydel
6.00
17.504
Bio-mass
14.40
0.00
Co- generation
121.10
439.586
Wind
2.00
1.116
TOTAL
13
143.50
458.206
43
Report on Corporate Governance:

The Company is committed to ensuring sound corporate practices based on
transparency, fairness, professionalism and accountability for building confidence
among all its stakeholders for achieving sustainable growth and profitability.
As part of good governance initiatives, all statutory and other significant and material
information are placed before the Board/ Board committees to enable it to discharge
its responsibility pertaining to strategic supervision of the Company as trustees of the
shareholders.
A brief report on Corporate Governance is given below:
Board of Directors (Board)
Composition of the Board:
The WBSEDCL Board is a balanced Board, comprising Executive and Non- Executive
Directors. The Non-Executive Directors include independent professionals along with
Government Nominee Directors.
The composition of the Board of Directors during the financial year 2012-13 was as
follows:
Executive Directors
Name
Designation
Remarks
Shri Rajesh Pandey
Chairman & Managing

Director
Shri Anirban Guha
Director (RT & IT)
Shri Kalyan Kumar Ghosh
Director (Finance)
Shri Debidas Datta
Director(Generation)
Shri Tapan Kanti Rudra
Director (HR)
Joined on 04.07.2012
Shri Abhijit Bose
Ceased on14.11.2012
Smt Saswati Banerjee
Director (HR)
Ceased on 30.04.2012
Non- Executive Directors

Name
Shri Malay Kumar De
Designation
Government Nominee
Director
44
Remarks
Name
Designation
Remarks
Shri Hari Krishna Dwivedi
Government Nominee
Director
Shri Proshanto Banerjee
Independent Director
Shri Sunil Mitra
Shri Rajat Kumar Majumder
Shri S.N.Menon
Ceased on 13.03.13
Shri Tapan Kumar Majumdar
Joined on 13.03.13
Chairman
The Chairman & Managing Director is the Chief Executive of the Company. His primary
role is to provide leadership to the Board for realizing Company goals. He keeps the
Board informed on all matters of importance.
He presides over General Meetings of Shareholders.
Executive Director
The Executive Directors contribute to the strategic management of the Companys
businesses within Board approved directions/framework. As Directors are accountable
to the Board for Business/Corporate functions, they assume overall responsibility for
its strategic management, including its governance processes and top management
effectiveness.
Details of Board Meetings during the financial year
During the financial year 2012-13, eight Board Meetings were held as follows:
Sl. No.
Date
Board Strength
No. of Directors present
1.
05.04.12
12
10
2.
11.05.12
11
3.
07.06.12
11
4.
29.06.12
11
5.
25.09.12
12
6.
10.11.12
12
7.
21.12.12
11
8.
18.03.13
11
10
45
The maximum time gap between two meetings was less than four months. The Board
has complete access to all the relevant information within the Company.
General Body meetings
Details of General meetings held since last Report is as under:
Meeting
Date
5th Annual General Meeting
25.09.2012
Attendance at Board Meetings and Annual General Meeting (AGM), during the year
2012-2013 is tabled below:
Director
Board Meetings
Held
Attended
Attendance
Other
at last
Directorship
during
AGM
the
held on
tenure
25.09.12
Shri Rajesh Pandey
Yes
Shri Malay Kumar De
Yes
Nil
No
Shri S.N. Menon
Nil
No
N.A.
Remarks
Ceased on
13.03.2013
Shri Proshanto Banerjee
No
Shri Sunil Mitra
Yes
Shri Rajat Kumar Majumder
Yes
Shri Anirban Guha
Yes
Shri Kalyan Kumar Ghosh
Yes
Shri Abhijit Bose
Yes
N.A.
Ceased on
14.11.2012
Shri Debidas Datta
Yes
Smt. Saswati Banerjee
No
N.A.
Ceased on
30.04.2012
Yes
Nil
Joined on
04.07.2012
Shri Tapan Kumar Majumdar
No
Nil
Joined on
13.03.2013
46
Board Agenda
Meetings are governed by a structured agenda. The Board members, in consultation
with the Chairman, may bring up any matter for the consideration of the Board. All
major agenda items are backed by comprehensive background information to enable
the Board to take informed decisions.
Post-meeting follow-up system
The Governance process in the Company include an effective post- meeting follow-up,
review and reporting process for action taken/ pending on decisions of the Board, Board
committees.
The Committees of the Board
Currently there are seven Board Committees the Audit Committee, HRD &
Remuneration Committee, Project Appraisal and Monitoring Committee, Contract/
Purchases and Procurement etc. Committee, Committee for Recruitment, Appointment
and Promotion in respect of Class-I post, Committee for consideration of appeals against
the punishment order passed by the Disciplinary Authority and Revenue Protection
Committee.
The terms of reference of the Board Committees are determined by the Board from
time to time. Meetings of each Board Committee are convened by the Company
Secretary under the direction of the Chairman of the respective Committees.
Signed minutes of the Board Committee Meetings are placed for the information of
the Board. The matters which required Boards attention/approval are generally placed
in the form of notes to the Board.
Audit Committee
The composition of the Audit Committee during 2012-13 was as follows:
Sl.
No.
Name of Director
Designation
Position in the
Committee
Remarks
Chairman
Ceased as Chairman
on 13.03.2013
1.
Shri S.N.Menon
2.
Shri Malay Kumar Government

De
Nominee Director
Member
3.
Shri Sunil Mitra
Member
4.
Shri Rajat Kumar

Majumder
Member
5.
Shri Proshanto
Banerjee
Member
6.
Shri Hari Krishna

Dwivedi
Government
Nominee Director
Member
Joined as Member
on 11.05.2012
*Shri Sunil Mitra was appointed as Chairman of Audit Committee on 11.05.2013.

47
Chairman and Managing Director, Director (Finance), General Manager (F&A) in

charge of Internal Audit are standing invitees in the Audit Committee Meetings.
Meetings and Attendance:
During the financial year ended 31st March 2013, five Meetings of the Audit Committee
were held on 11.05.12, 29.06.12, 25.09.12, 10.11.12 and 18.03.13.
Meetings attended by individual members during the year 2012-13 are detailed below:
Name of Director, Designation
Position in
the Committee
Shri S.N.Menon,
No. of
meetings
held during
his tenure
Meetings
attended
Chairman
Nil
Shri Malay Kumar De,

Government Nominee Director
Member
Shri Sunil Mitra,

Member
Shri Rajat Kumar Majumder,

Member
Shri Proshanto Banerjee,

Member

Member
Nil
HRD &Remuneration Committee

The Remuneration Committee of the Board, under nomenclature of HRD &
Remuneration Committee, inter-alia recommends to the Board the compensation terms
of Executive Directors, senior level management as well as the employees of the
Company. The Committee also frames Policies and oversees all aspects of Human
Resources Development including implementation of best HRD practices on various
human resource related matters.
The composition of the HRD and Remuneration Committee during 2012-13 was as
follows:
Sl.
No.
1.
Name of Director
Shri Proshanto
Banerjee
Designation
Position in the
Committee
Chairman
48
Remarks

Sl.
No.
2.
3.
4.
Name of Director
Designation
Shri Rajesh
Chairman and
Pandey
Managing Director
Shri Malay
Govt. Nominee
Kumar De
Director
Shri Tapan
Director (HR)
Position in the
Committee
Remarks
Member
Member
Member
Kanti Rudra
Joined as member
on 25.09.12
5.
Shri Sunil Mitra
Member
6.
Shri Rajat Kumar
Member
Shri Kalyan
Director (Finance & HR)
Member
Kumar Ghosh
(1 meeting)
Majumder
7.
Director (Finance)
(3 meetings)
8.
Shri Anirban
Director (RT&IT)
Member
Guha
Joined as member
on 14.01.13

During the financial year ended 31st March 2013, four meetings of the HRD and
Remuneration Committee were held on 28.06.12, 25.09.12, 10.11.12 and 14.01.13.

Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended
Chairman
Shri Rajesh Pandey,

Member

Member
Shri Sunil Mitra,

Member
49
Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended

Member
Shri Kalyan Kumar Ghosh,

Director (Finance)
Member

Director(HR)
Member
Shri Anirban Guha

Director (RT&IT)
Member
Project Appraisal and Monitoring Committee

Every project requiring administrative approval is routed through Project Appraisal
and Monitoring Committee constituted by the Board. The Committee is empowered to
accord administrative approval of project cost up to
50 crores. Project cost exceeding
50 crores is routed through the Committee to the Board for approval. Periodical
monitoring of the approved projects are being made by the Committee and necessary
policies/ guidelines relating to project proposals are being framed by the Committee
from time to time.
The composition of Project Appraisal and Monitoring Committee during 2012-13 was
as follows:
Sl.
No.
1.
2.
3.
Name of Director
Designation
Position in the
Committee
Shri Rajesh
Chairman and
Pandey
Managing Director
Shri Malay
Government Nominee
Kumar De
Director
Shri Proshanto
Member
Member
Remarks
Chairman
Member
Banerjee
4.
Shri S.N. Menon
Ceased as Member
on 13.03.13
5.
Shri Anirban
Director (RT & IT)
Guha
50
Member

Sl.
No.
6.
Name of Director
Shri Kalyan
Designation
Position in the
Committee
Director (Finance)
Member
Member
Remarks
Kumar Ghosh
7.
Shri Abhijit Bose
Ceased as Member
on 14.11.2012
8.
Shri Debidas
Member
Datta

During the financial year ended 31st March 2013 two meetings of the Project Appraisal
and Monitoring Committee were held on 05.04.12 and 24.09.12.
Shri Rajesh Pandey,

Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended
Chairman

Member

Member
Shri S.N.Menon,
Member
Nil
Shri Anirban Guha,

Director (RT& IT)
Member

Director (Finance)
Member
Shri Abhijit Bose,

Member
Shri Debidas Datta

Member
51
Contract / Purchases and Procurement etc. Committee

Every purchase/procurement proposal is routed through this Committee. The
Committee is empowered to accord approval of proposal up to
Purchase and Procurement proposals exceeding
50 crores. Contract/
50 crores are routed through the
Committee to the Board for approval.

The composition of Contract / Purchases and Procurement etc. Committee during 201213 was as follows:
Sl.
Name of Director
Designation
No.
1.
2.
3.
Position in the
Remarks
Committee
Shri Rajesh
Chairman and
Chairman
Pandey,
Managing Director
Shri Malay
Government
Kumar De
Nominee Director
Shri S.N. Menon
Member
Member
Ceased as Member
on 13.03.13
4.
Shri Kalyan
Director (Finance)
Member
Director(Distribution)
Member
Kumar Ghosh
5.
Shri Abhijit Bose
Ceased as Member
on 14.11.2012
6.
Shri Anirban
Director (RT & IT)
Member
Member
Member
Guha
7.
Shri Debidas
Datta
8.
Shri Sunil Mitra

During the financial year ended 31st March 2013 seven Meetings of the Contract /
Purchases and Procurement etc. Committee was held on 05.04.12, 07.06.12, 24.07.12,
24.09.12, 10.11.12, 21.12.12 and 18.03.13.
52
Shri Rajesh Pandey,

Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended
Chairman

Member
Shri S.N. Menon,

Member
Nil

Director(Finance)
Member
Shri Abhijit Bose,

Member
Shri Anirban Guha,

Director (RT & IT)
Member
Shri Debidas Datta,

Member
Shri Sunil Mitra,

Member
Recruitment, Appointment and Promotion Committee in respect of Class I

posts
Every Recruitment, Appointment and Promotion in respect of Class I posts is made by
the Committee.
The current composition of Recruitment, Appointment and Promotion Committee in
respect of Class I posts are as follows:
Sl.
No.
1.
2.
Name of Director
Designation
Shri Rajesh
Chairman and
Pandey
Managing Director
Smt.Saswati
Director (HR)
Position in the
Committee
Remarks
Chairman
Member
Banerjee
Ceased as member
on 30.04.12
53

Sl.
No.
3.
Name of Director
Shri Proshanto
Designation
Position in the
Committee
Member
Director(RT&IT)
Member
Director(Finance)
Member
Member
Remarks
Banerjee
(for direct recruitment of Class I
posts only)
4.
Shri Anirban
Guha
5.
Shri Kalyan
Kumar Ghosh
6.
Shri Abhijit Bose
Ceased as Member
on 14.11.2012
7.
Shri Rajat Kumar
Member
Director(Generation)
Member
Director (HR)
Member
Majumder
8.
Shri Debidas
Datta
9.
Shri Tapan
Kanti Rudra
Joined as Member
on 23.07.2012

During the financial year ended 31 st March 2013 11(eleven) meetings of the
Recruitment, Appointment and Promotion Committee were held on 28.04.12, 16.05.12,
23.07.12, 08.08.12, 13.08.12, 14.08.12, 29.09.12, 29.11.12, 05.12.12, 12.02.13 and
20.03.13.
Shri Rajesh Pandey,

Smt. Saswati Banerjee,
Director (HR)
Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended
Chairman
11
11
Member
54
Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended

(for direct recruitment of Class-I
posts only)
Member
Shri Anirban Guha,

Director (RT&IT)
Member
11

Director (Finance)
Member
11
11
Shri Abhijit Bose,

Member

Member
11
10
Shri Debidas Datta,

Member
11

Director (HR)
Member
Committee for consideration of Appeals against punishment orders passed

by Disciplinary Authority
The composition of the Committee during 2012-13 was as follows:
Sl.
No.
1.
2.
Name of Director
Designation
Position in the
Committee
Shri Rajesh
Chairman and
Pandey
Managing Director
Shri Anirban
Director (RT&IT)
Member
Member
Remarks
Chairman
Guha
3.
Shri Abhijit Bose
Ceased as Member
on 14.11.2012
4.
Shri Debidas
Datta
Member
Joined as Member
on 21.12.2012
55

During the financial year ended 31st March, 2013 only one meeting of the Committee
was held on 17.10.12.
Shri Rajesh Pandey,

Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended
Chairman
Shri Anirban Guha,

Director (RT&IT)
Member
Nil
Shri Abhijit Bose,

Member
Shri Debidas Datta,

Member
Nil
Nil
Committee for Revenue Protection

The composition of the Committee during 2012-13 was as follows:
Sl.
No.
Name of Director
Designation
Position in the
Committee
1.
Shri Rajat
Kumar Majumder
Chairman
2.
Shri Rajesh
Pandey
Chairman and
Managing Director
Member
3.
Shri Sunil Mitra
Member
4.
Shri Anirban
Guha
Director (RT&IT)
Member
5.
Shri Abhijit Bose
Member
6.
Shri Kalyan
Kumar Ghosh
Director (Finance)
Member
Shri Tapan
Kanti Rudra
Director (HR)
Member
56
Remarks
Ceased as Member
on 14.11.2012
Joined as Member
on 09.03.2013

Meetings and Attendance :
During the financial year ended 31st March, 2013 only four meetings of the Committee
were held on 27.06.12, 24.07.12, 20.12.12 and 09.03.13.

Position in
the Committee
No. of
meetings
held during
his tenure
Meetings
attended
Chairman
Shri Rajesh Pandey,

Member
Shri Sunil Mitra,

Member
Shri Anirban Guha,

Director (RT&IT)
Member
Shri Abhijit Bose,

Member

Director (Finance)
Member
Shri Tapan Kanti Rudra,

Director (HR)
Member
Nil
Shareholders rights:
The half yearly financial results of the Company are published in newspapers on an
all India basis. Significant events are posted in the Companys Website www.wbsedcl.in.
The complete annual report is sent to every shareholder of the Company.
Audit Qualifications:
It is always the Companys endeavour to present unqualified financial statements.
However audit qualifications in the Companys financial statements for the year ended
31st March, 2013 and Managements response thereto are placed separately in the
Directors Report.
57
Comments of the Statutory Auditors and the Managements reply thereon

Audit Observations
Reply
Basis for Qualified Opinion

4(a) The opening assets and liabilities
of WBSEDCL as on 01.04.2007 have
been taken into account without
verification and as to the
realisability or otherwise of the
full value of Assets as stated.
The Assets and Liabilities of

WBSEDCL, the restructured Company
formed by unbundling WBSEB, were
considered as on 01.04.2007 in
accordance with the final transfer
scheme vide notification no:12-PO/O/
III/3R-29/2006 dated: 25.01.2007 and
notification no:313-PO/O/III/3R-29/
2006 dated: 19.09.2008 as revested by
the Govt. of West Bengal to the
Company.
4(b) During the year the Company has Capitalization of overhead expenses
capitalised Revenue Expenditure has been done as per the Accounting
incurred on account of Operating Policy of the Company.
Expenses, amounting to
308
Lakhs and Employee Benefits of
18417 Lakhs to Capital Work in
Progress as per Accounting Policy
of the Company and not on an
actual basis which is not in
compliance with Accounting
Standard 10 of Accounting
Standard Rules (2006).
4(c) Title deeds /Possession certificates This has adequately been explained in
of Land & Land rights have not note 11.8 of the accounts. The
produced to us for our verification. Company acquires / takes possession
The Company owns both Leased of land for different purposes mainly
as well as Freehold Land. through Govt. Acquisition of land
However, separate classification through Govt. are of two types, viz.
of cost of Land between Leasehold private land acquired by Govt. under
and Freehold has not been Land Acquisition Act & acquisition /
worked
out
and
hence possession of vested land through Govt.
amortization / depreciation on and handed over to the Company
leasehold land has not been (WBSEDCL). As per Act, in both the
58
provided for in the accounts cases execution of Deed is necessary.

amount unascertained(Refer to But in practice, it takes lot of time. But
note no 11.8).
in each case, the acquisition/possession
is firmly supported by the following
documents :
a) Possession Certificate issued by
the Govt.
b) Notification/declaration in Govt.
Gazette.
c) Receipt against payment of
consideration.
4(d) No confirmation is received for
loan
taken
from
Rural
Electrification Corporation
Limited (RECL) by West Bengal
Rural Energy Development
Corporation Limited which is
amalgamated with WBSEDCL. As
per practice, no provision is made
in respect of Interest on RECL
Loan taken by WBREDC Limited
in the absence of any stipulation
from the State Government.(Refer
to note no 25.2)
Effects of the above Qualified
Opinion on the profitability of the
Company is not ascertainable at
present.
Due to amalgamation, RECL loan

drawn by the erstwhile WBREDCL has
been considered in the accounts based
on the audited accounts of WBREDCL
as on 31.03.2011.The matter has been
taken up with the Govt. of West Bengal
for early settlement of the Issue.
6(a) Note no. 21(c) & 21.12 relating to the

amount realizable through Regulatory
Mechanism of
209050 lakhs has
been credited to a statement of Profit
or Loss even though relevant orders
have not been received from
Regulatory Authorities on the
presumption that favorable orders for
the full amount will be forthcoming.
In the event of any variation in the
Income Receivable through Regulatory

Mechanism in respect of additional cost
incurred for purchase of power,
transmission charges and fixed cost
during the period over and above cost
allowed in prevailing tariff order is
recognized based on the applicable
available regulations of Regulatory
Authority. It is expected that the future
economic benefits associated with this
59
orders of WBERC adjustment of net will flow to the Company as a result of

profits and regulatory assets may be expected orders of the Regulator under
necessitated to the extent of such the applicable regulatory framework.
variation.
6(b)
Regulatory Assets at the end of year

2012-2013 is 613265 lakhs(Refer to
note no. 20.2) which includes 6066
lakhs as recoverable (excess of
liabilities over assets)as a result
of takeover of the Singur Haripal
Electric Co-operative Society Ltd.
(SHRELCOP).
Application was made on 01-06-2010
to WBERC to allow the above loss in
the tariff which is still pending. In the
event of any variation in the orders of
WBERC adjustment of net profits and
regulatory assets may be required to
the extent of such variation.
Assets and Liabilities of SHRELCOP

relating to its electricity business were
incorporated in the accounts of
WBSEDCL as per direction in the
order no: NIL Dated: 28.02.2008 of the
WBERC. In that order it was
principally admitted by the Honble
Commission to allow WBSEDCL to
recover through future tariff the
quantum of excess liability over the
assets of the SHRELCOP as on
28.02.2008. Based on this order the
excess of liability over the assets of
SHRELCOP of
6065.63 lakhs was
considered as Income Through
Regulatory Mechanism in the accounts
of 2009-10. Subsequently necessary
information as required by WBERC
has been provided. The order is
expected.
6(c)
Unscheduled Interchange UI
Receivable includes
61 lakhs for
interest on delayed receipt of UI
charges. Realization of the interest
depends upon the direction of the
appropriate authority. (Refer to note
no. 20.1).
This has been adequately explained in

note 20.1 of the accounts. Claim has
been lodged with State Load Despatch
Center (SLDC). Necessary actions and
persuasions are initiated on to realize
the dues.
6(d)
Note No 1.4 in Other Disclosure Necessary effect will be made in the

relating to Contingent Liability accounts upon receipt of the final order
includes 6039 Lakhs for Electricity from the Govt. of West Bengal.
Duty including interest payable to
Govt. Of West Bengal for the
Financial Year 2003-04 to 2006-07
60
6(d) which was accumulated during the

regime of WBSEB prior to
incorporation of WBSEDCL and the
said liability was not considered in the
restructured Balance Sheet of
WBSEDCL during the regime of
WBSEB through the Transfer Scheme
of Govt. of West Bengal.
6(e) The debtors balance consists of Provision on doubt full debtors has
provision for unbilled revenue of been done as per the Accounting Policy
171412 Lakhs being the sales of the Company.
revenue for the consumption month of
March2013 / last Quarter and also
182443 lakhs
accrued arrear of
demand for which will be raised in
subsequent year/years. (Refer to note
no. 14 & 17).
The Debtors balances, which are
outstanding for more than three years,
for Government Consumers is 5495
Lakhs and outstanding for more than
one year for Non-Government
Consumers is 11044 Lakhs. However
the Company has made a provision of
50% on above, as per their policy.
6(f) Balance confirmations sought by the Necessary provisions have been made
management from the parties but as per Accounting Policy of the
adequate response has not been Company.
received from the parties in case of
Sundry Debtors, Sundry Creditors,
Advances, Deposits and Receivable on
account of Swap of Power as on
31.03.13.
In some cases details are not available
in case of Capital Work In Progress,
Debtors, Advances & Deposits which
are outstanding over three years.
61
6(g) Non availability of balance

confirmations
certificates
of
Unsecured Loan from Govt. of West
Bengal.
Further, there is a difference of 20
Lakhs in the account of Rural
Electrification Corporation Ltd. in
Long Term Unsecured loan.
Request for confirmation of balances

has been asked from the Govt. of West
Bengal but the same has not yet
received.
REC authority confirmed only the
principal amount of loan balance while
in the books of WBSEDCL the amount
is not agreed since the loan of REC has
been accounted for under composite
head as per restructured package
including both principal and interest.
6(h) Excess payment made by the Regarding refund of excess payment to

Company of
9 Lakhs for purchase Govt., claim has been lodged and
of Land at Bhupatinagar and no reminders issued.
refund of such excess amount paid has
been received by the Company till date
although the possession of Land of
1.93 acres has been taken by the
Company.
6(i) Note no. 18.3 relating to bank drafts
of 51 lakhs sent for revalidation of
date but till date of the audit no draft
has been returned after revalidation.
62
Necessary correspondence has been

made with the concerned banks and
response from banks stating
consideration of the matter has been
received.
Comments on Annexure A to the Independent Auditors Report

Audit Observations
Reply
(IV) In our opinion and according to the
information and explanations given to

us, the internal control procedures
needs to be further strengthened
commensurate with the size of the
Company and nature of its
business for the purchase of
inventory, fixed assets and for the
sale of electricity and services.
Further, on the basis of our
examination of Books/ Records and the
us, we have neither come across nor we
have been informed of any instance of
major weakness in the internal control
system except those pointed out in
the Internal Auditors Reports.
(VII) The Company has appointed during
the year Chartered Accountants Firms

/Cost Accountant firms for internal
audit in addition to having its own
Internal Audit Department. Out of
the 91 accounting units, 464
customer care centres, 90 Store
units and 53 other units only 56
accounting units, 141 customer
care centres, 46 store units and 27
other units have been audited. It
was also observed that in most
cases of the Internal Audit
Reports pertains to the period upto December, 2012.
The Company has internal control

procedure in the activities of purchase
of inventories, fixed asset and sale of
electricity and services. More number
of outsourced Audit Firm have been
engaged for the maximum coverage of
various location of the Company under
the purview of Internal Audit for
further strengthening the Internal
Control System.
The scope of Internal Audit had been

significantly widened during the
financial year 2012-13. The Internal
Audit of units were carried out
throughout the financial year and
mostly resolved by the year end. The
scope of Internal Audit is continuously
being reviewed to strengthen further.
More number of outsourced Audit Firm
have been engaged for the maximum
coverage of various location of the
Company under the purview of
Internal Audit. Action has been taken
to strengthen Internal Audit in the
areas of Technical and IT Operations.
Strict monitoring has been introduced

explanation given to us and for avoiding any such delay in
(IX)(a) According to the information and
63
according to the books and depositing statutory dues.

records as produced before us and
examined by us, in our opinion,
the Company is generally regular
in
depositing
undisputed
statutory
dues
including
Provident Fund, Income Tax,
Sales Tax, Excise Duty, Service
Tax, Cess and other statutory dues
with appropriate authority for the
year, though there have been
delays in deposits in respect of
some units. There may arise
liability of penal interest and
penalty for delayed payment of
Statutory dues amount
unascertained.
(IX)(b) As at 31st March, 2013 according to the
Being disputed the same has been

records of the Company and the considered as contingent liability.
us by the Management, the following
are the particulars of dues on account
6202
of Sales Tax amounting to
Lakhs, Service Tax
53 lakhs
Municipal Tax amounting to
118
Lakhs which are unpaid on account of
dispute.
(XXI) According to the information and
explanations given to us, no major

fraud on or by the Company has been
noticed or reported during the year.
The total value of assets lost due
to fraud was 5 Lakhs during the
year 2012-13. Provision for the
aforesaid loss amounting to
5
Lakhs on account of fraud has
been made in the accounts for the
year.
64
There is well defined system and

procedure in the Company for
prevention of fraud. However in spite
of that the total value involved in fraud
cases as reported were not material as
compared to the total value of Assets.
All the cases are under investigation.
65
66
67
Mookherjee Biswas & Pathak

Chartered Accountants
5 & 6 Fancy Lane, Kolkata - 700 001

Phone : 2248 1733, 2231 8869, 2243 8542, 2242 1789
Fax : (033) 2248 0080
Website : www.mbpkol.com
E-mail : mbpkol@vsnl.net
INDEPENDENT AUDITORS REPORT

To the Members of West Bengal State Electricity Distribution Company
Limited
1.
Report on the Financial Statements
We have audited the accompanying financial statements of WEST BENGAL STATE

ELECTRICITY DISTRIBUTION COMPANY LIMITED (WBSEDCL) (the Company)
which comprise the Balance Sheet as at March 31, 2013, the Statement of Profit and
Loss and the Cash Flow Statement for the year then ended, and a summary of
significant accounting policies and other explanatory information.
2.
Managements Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that give
a true and fair view of the financial position, financial performance and cash flows of
the Company in accordance with the Accounting Standards referred to in sub-section
(3C) of section 211 of the Companies Act, 1956 (the Act). This responsibility includes
the design, implementation and maintenance of internal control relevant to the
preparation and presentation of the financial statements that give a true and fair
view and are free from material misstatement, whether due to fraud or error.
3.
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our

audit. We conducted our audit in accordance with the Standards on Auditing issued
by the Institute of Chartered Accountants of India. Those Standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts
and disclosures in the financial statements. The procedures selected depend on the
auditors judgment, including the assessment of the risks of material misstatement of
the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Companys
preparation and fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of the accounting
68

estimates made by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for out audit opinion.
4.
Basis for Qualified Opinion

a)
In Exercise of the power vested under Sub-Section (4) of Section

131 of the Electricity Act, 2003, the Govt. of West Bengal unbundled
the West Bengal State Electricity Board (WBSEB) into two
Companies namely WBSEDCL & WBSETCL with effect from
01.04.2007 (Refer to note number 1(b) of Notes on Financial
Statement for the year ended 31st March, 2013). In accordance with
the above scheme, the opening assets and liabilities of WBSEDCL
as on 01.04.2007 have been taken into account without verification
and as to the realisability or otherwise of the full value of Assets as
stated.
b)
During the year the Company has capitalised Revenue Expenditure

incurred on account of Operating Expenses, amounting to
308
Lakhs and Employee Benefits of 18417 Lakhs to Capital Work in
Progress as per Accounting Policy of the Company and not on an
actual basis which is not in compliance with Accounting Standard
10 of Accounting Standard Rules (2006).
c)
Title deeds / Possession certificates of land and land rights have

not been produced to us for our verification.
The Company owns both Leased as well as Freehold Land. However,
separate classification of cost of Land between Leasehold and
Freehold has not been worked out and hence amortization /
depreciation on leasehold land has not been provided for in the
accounts - amount unascertained (Refer to note no 11.8).
d)
No confirmation is received for loan taken from Rural Electrification

Corporation Limited (RECL) by West Bengal Rural Energy
Development Corporation Limited which is amalgamated with
WBSEDCL. As per practice, no provision is made in respect of Interest
on RECL Loan taken by WBREDC Limited in the absence of any
stipulation from the State Government. (Refer to note no 25.2).
Effects of the above Qualified Opinion on the profitability of the
Company is not ascertainable at present.
5.
Qualified Opinion
In our opinion and to the best of our information and according to the
69

explanations given to us, except for the effects of the matter described in the
paragraph for Basis for Qualified opinion, the financial statements give the
information required by the Act in the manner so required and give a true
and fair view in conformity with the accounting principles generally accepted
in India :
6.
a)
in the case of the Balance sheet, of the state of affairs of the Company
as at March 31, 2013
b)
in the case of the Statement of Profit and Loss, of the profit for the
year ended on that date; and
c)
in the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Emphasis of matter
Without qualifying our opinion we draw attention to the following Notes to the financial
statements :
a)
Note no. 21(c) & 21.12 relating to the amount realizable through Regulatory
Mechanism of
209050 lakhs has been credited to a statement of Profit or
Loss even though relevant orders have not been received from Regulatory
Authorities on the presumption that favourable orders for the full amount
will be forthcoming. In the event of any variation in the orders of WBERC
adjustment of net profits and regulatory assets may be necessitated to the
extent of such variation.
b)
Regulatory Assets at the end of year 2012-2013 is 613265 lakhs (Refer to

note no. 20.2) which includes 6066 lakhs as recoverable (excess of liabilities
over assets) as a result of takeover of the Singur Haripal Electric Co-operative
Society Ltd (SHRELCOP).
Application was made on 01-06-2010 to WBERC to allow the above loss in
the tariff which is still pending. In the event of any variation in the orders
of WBERC adjustment of net profits and regulatory assets may be required
to the extent of such variation.
c)
Unscheduled Interchange UI Receivable includes 61 lakhs for interest on

delayed receipt of UI charges. Realization of the interest depends upon the
direction of the appropriate authority. (Refer to note no. 20.1)
d)
Note No. 1.4 in Other Disclosure relating to Contingent Liability includes

6039 Lakhs for Electricity Duty including interest payable to Govt. Of
West Bengal for the Financial Year 2003-04 to 2006-07 which was
accumulated during the regime of WBSEB prior to incorporation of
WBSEDCL and the said liability was not considered in the restructured
70

Balance Sheet of WBSEDCL during the regime of WBSEB through the
transfer scheme of Govt. of West Bengal.
e)
The debtors balance consists of provision for unbilled revenue of 171412

Lakhs being the sales revenue for the consumption month of March 2013 /
last Quarter and also accrued arrear of 182443 lakhs demand for which
will be raised in subsequent year / years. (Refer to note no. 14 & 17)
The Debtors balance, which are outstanding for more than three years, for
Government Consumers is 5495 Lakhs and outstanding for more than
one year for Non-Government Consumers is 11044 Lakhs. However the
Company has made a provision of 50% on above, as per their policy.
f)
Balance confirmations sought by the management from the parties but

adequate response has not been received from the parties in case of Sundry
Debtors, Sundry Creditors, Advances, Deposits and receivable on account
of Swap of Power as on 31.03.2013.
In some cases details are not available in case of Capital Work In Progress,
Debtors, Advances & Deposits which are outstanding over three years.
g)
Non availability of balance confirmations certificates of Unsecured Loan

from Govt. of West Bengal.
Further, there is a difference of
20 Lakhs in the account of Rural
Electrification Corporation Ltd. in Long Term Unsecured loan.
h)
Excess payment made by the Company of 9 Lakhs for purchase of Land

at Bhupatinagar and no refund of such excess amount paid has been received
by the Company till date although the possession of Land of 1.93 acres has
been taken by the Company.
i)
Note no. 18.3 relating to bank drafts of 51 lakhs sent for revalidation of
date but till date of the audit no draft has been returned after revalidation.
7.
Report on Other Legal and Regulatory Requirements
i)
As required by the Companies (Auditors Report) order, 2003 issued by the Central
Government of India in terms of sub-section (4A) of Section 227 of the Companies
Act, 1956, we enclose in the Annexure A a statement on the matters specified in
paragraph 4 and 5 of the said order.
ii)
As required by section 227(3) of the Act, we report that:

a)
We have obtained all the information and explanations which to the best of
knowledge and belief were necessary for the purpose of our audit except for
the matter described in the basis for qualified opinion paragraph.
71

b)
In our opinion proper books of account as required by law have been kept by
the Company so far as appears from our examination of those books and
proper returns adequate for the purposes of our audit have been received
from units not visited by us.
c)
The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement
dealt with by this Report are in agreement with the books of account and
with the returns received from units not visited by us.
d)
Except for the possible effects of the matter described in the Basis
for Qualified Opinion paragraph, in our opinion, the Balance Sheet,
Statement of Profit and Loss and Cash Flow Statement comply with
the accounting standards referred to in sub-section (3C) of section
211 of the Act;
e)
The provisions of section 274(1) (g) of the Companies Act, 1956 do not apply
to the Company being a Government Company, in terms of notification no
GSR 829 (E) dt. 21.10.2003 issued by the Central Government.
For
FRN No 301138E
(S. P. Mukherjee)
Partner
Membership No. 10807
Place : Kolkata
Date : 14 June, 2013
72

ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT
Referred to in Paragraph i under the heading Report on Other Legal and
Regulatory Requirements of our report of even date.
(I)
(a)
The company has maintained proper records showing full particulars of its
Fixed Assets including quantitative details on the basis of available
information.
(b)
We are informed that physical verification of Fixed Assets have been

conducted by the management and the said verification work has been
completed as on 31st March, 2013 and no material discrepancies were noticed
on such verification.
(c)
As per information & explanations given to us, the company has not disposed
off substantial fixed assets during the year.
(II) (a)
As per the information and explanations given to us, the stocks of stores &
spares are reported to have been physically verified during the year by the
management. The frequency of verification appears to be adequate.
(b)
In our opinion and according to the information and explanations given to

us, physical verification of stores has been conducted by the management.
We are informed that the stores of high inventory holding were verified in
the presence of independent verifier from Chartered Accountant & Cost
Accountant Firms. We are informed that physical verification is being
reconciled with the detailed inventory records and the consequential
adjustment made in the accounts after the process of reconciliation is
completed.
(c)
On the basis of the information & explanations given to us by the

Management on which we have relied, the company has maintained records
of inventory and the discrepancies noticed on physical verification of
inventories as compared to book records were not material.
(III) (a)
According to the information and explanation given to us, the Company has
not granted any loan, secured or unsecured, to Companies, Firms, or other
parties listed in the register maintained under Section 301 of the Companies
Act, 1956. As the company has not granted any loans, secured or unsecured,
to parties listed in the register maintained under Section 301 of the
73

Companies Act, 1956, paragraphs (iii) (b) (c) and (d) of the Order are not
applicable.
(b)
The company has not taken any loans, secured and unsecured loan from
companies, firms or other parties listed in the register maintained under
section 301 of the Companies Act, 1956. As the company has not taken any
loans, secured or unsecured from parties listed in the register maintained
under section 301 of the Companies Act, 1956, paragraphs (iii) (f) and (g) of
the order are not applicable.
(IV) In our opinion and according to the information and explanations given to us, the
internal control procedures needs to be further strengthened commensurate
with the size of the Company and nature of its business for the purchase
of inventory, fixed assets and for the sale of electricity and services.
Further, on the basis of our examination of Books/Records and the information
and explanations given to us, we have neither come across nor we have been
informed of any instance of major weakness in the internal control system except
those pointed out in the Internal Auditors Reports.
(V) (a)
According to the information and explanations given to us by the

Management on which we have relied, there are no contracts or arrangement
that need to be entered into the register maintained under Section 301 of
the Companies Act, 1956.
(b)
In our opinion and according to the information and explanations given to

us, as ther are no transactions that need to be entered into the register
maintained under Section 301 of the Companies Act, 1956, paragraph (v)
(b) of the Order is not applicable.
(VI) According to the information and explanation given to us, the Company has not
accepted any deposit from the public. Therefore, the provisions of Clause (vi) of
Paragraph 4 of the order are not applicable to the Company.
(VII) The company has appointed during the year Chartered Accountants Firm / Cost
Accountant Firms for internal audit in addition to having its own Internal Audit
Department. Out of the 91 accounting units, 464 customer care centres,
90 Store units and 53 other units only 56 accounting units, 141 customer
care centres, 46 store units and 27 other units have been audited. It was
also observed that in most cases of the Internal Audit Reports pertains
to the period up-to December, 2012.
74

(VIII) We have broadly reviewed the Books of Account maintained by the Company
pursuant to the rules made by the Central Government, the maintenance of cost
records has been prescribed under Section 209(1) (d) of the Companies Act, 1956
& are of the opinion that prima facie the prescribed accounts and records have
been made and maintained. We have not, however, made a detailed examination
of the records with a view to determining whether they are accurate or complete.
(IX) (a)
According to the information and explanation given to us and

according to the books and records as produced before us and
examined by us, in our opinion, the company is generally regular
in depositing undisputed statutory dues including Provident Fund,
Income Tax, Sales Tax, Excise Duty, Service Tax, Cess and other
statutory dues with appropriate authority for the year, though there
have been delays in deposits in respect of some units. There may
arise liability of penal interest and penalty for delayed payment of
Statutory dues - amount unascertained.
(b)
As at 31st March, 2013 according to the records of the company and the
information and explanations given to us by the Management, the following
are the particulars of dues on account of Sales Tax amounting to 6202
Lakhs, Service Tax 53 Lakhs Municipal Tax amounting to 118 Lakhs
which are unpaid on account to dispute.
Sl.
No.
Name of the
Statute
Nature of dues
(
Amount
in lakhs)
Period to
which the
amount relates
Forum where
dispute is pending
1.
West Bengal Sales Demand relating to

Tax Act, 1994
Sales Tax on (a) Meter
Rental (b) Meter Box
Charges & allied
matters
1897
Various
years from
1993-2004
W.B. Commercial Taxes

Appellate & Revisional Board,
Kolkata
2.
The West Bengal Demand relating to

Sales Tax Act, 1994 Sales Tax on (a) Meter
Charges & allied
matters
792
Various
years from
1987-2000
Honble
W.B.
Tribunal, Kolkata
3.

Charges & allied
matters
1264
Various
years from
1991-95
Ld. ACCT
4.

Charges & allied
matters
276
1995-96
75
Ld. DCCT, PG Circle
Taxation

Sl.
No.
Name of the
Statute
Nature of dues
(
Amount
in lakhs)
Period to
which the
amount relates
Forum where
dispute is pending
5.

Value Added Rules, Sales Tax on (a) Meter
2005
Charges & allied
matters
1961
Various
years from
2004-05 to
2007-08

Appellate & Revisional Board.
6.
The West Bengal Printing Stationary

Value Added Rules, and Others
2005
12
2008-09

Appellate & Revisional Board.
7.
Service Tax
53 plus
Penalty &
Interest
2007-2008
To
2010-2011
Honble Customs, Excise &

Service Tax Appellate Tribunal.
8.
Municipal Tax
118
TOTAL
6373
Rental Income
Different Municipalities.
(X)
The Company has accumulated losses of 16083 Lakhs at the end of the
financial year, however it has not incurred cash losses during the financial
year under report and in the immediately preceding financial year.
(XI)
According to the records of the Company examined by us and the information

and explanations given to us, the company during the year, has not defaulted
in repayment of dues to financial institutions, banks, or debenture.
(XII)
According to the information and explanations given to us, the company has
not granted any loan and advances on the basis of security by way of pledge of
shares.
(XIII) The provision of any special statute applicable to Chit Fund/Nidhi/Mutual

Benefit Fund/Societies are not applicable to the Company.
(XIV)
In our opinion and according to the information and explanations given to us,
the Company is not a dealer or trader in securities.
(XV)
According to the information and explanations given to us, the Company has
given a Bank Guarantee of 456 Lakhs in favour of Power Finance Corporation
Ltd. for loan of
880 Lakhs obtained by West Bengal Green Energy
Development Corporation Ltd. - a Joint Venture Company.
(XVI)
Accordin to the information & explanations given to us on which we have

relied the Term Loan taken by the Company have been applied for the purpose
for which they were obtained.
(XVII) According to the information and explanation given to us, the company has
76

raised short-term fund from Banks and Financial Institutions and has not
used such fund for long-term investments.
(XVIII) The Company has not made any preferential allotment of shares during the
year.
(XIX)
During the year 2012-2013 no Non Convertible Redeemable Secured bonds

was issued. Bonds issued in earlier years is secured against the Fixed Assets
of the company. Charge has been duly recorded in the office of the Registrar of
Companies, West Bengal. These securities are listed with Bombay Stock
Exchange in Wholesale Debt Market. Adequate Debenture Redemption Reserve
has been created during the year as required under section 117C of the
Companies Act, 1956.
(XX)
The Company has not raised any money by public issue during the year.
(XXI)
According to the information and explanations given to us, no major fraud on

or by the Company has been noticed or reported during the year. The total
value of assets lost due to fraud was 5 Lakhs during the year 201213. Provision for the aforesaid loss amounting to 5 Lakhs on account
of fraud has been made in the accounts for the year.
For
FRN No 301138E
(S. P. Mukherjee)
Partner
Membership No. 10807
Date : 14 June, 2013
Place : Kolkata
77
STATEMENT OF TECHNICAL PARTICULARS

Sl.
No.
1.0
2.0
3.0
4.0
5.0
6.0
7.0
7.1
7.2
7.3
7.4
2012-2013
Particulars
Installed Generating Capacity at the year end (MW)
(a) Hydel (Excluding PPSP)
(b) Diesel
(c) PPSP
Total :
176.550
0.820
900.000
1077.370
168.710
0.820
900.000
1069.530
Total :
467.171
0.000
797.495
1264.666
427.558
0.469
766.413
1194.440
Total :
4.798
0.000
9.570
14.368
4.508
0.000
9.197
13.705
462.373
0.000
787.925
1250.298
1233.591
16.707
1250.298
423.050
0.469
757.216
1180.735
1161.598
19.137
1180.735
3763.574
626.568
564.312
1185.793
988.331
7128.578
2891.491
702.586
621.194
1303.062
55.956
5574.289
20979.941
93.073
21073.014
21241.570
56.663
21298.233
194.358
321.256
77.509
1.871
13.840
202.506
44.070
0.000
1263.604
2119.014
170.878
458.531
137.605
0.000
0.000
278.144
27.105
1.350
1209.541
2283.154
63.144
6.703
10.801
61.888
5.547
10.922
Generation in MKWH
(b) Diesel
(c) PPSP
Auxiliary Consumption (MKWH)
(b) Diesel
(c) PPSP
Net Generation in MKWH(2-3)
(b) Diesel
(c) PPSP
Total :
Energy Injected to WBSETCL System from Power Generation
Energy Injected to WBSEDCL System from Power Generation
Total Generation:
Energy Injected to WBSETCL System from Power Purchase
Central Sectors (MKWH)
NTPC
NHPC (Rangit +Teesta V)
PTC (Chukha & Kurichhu)
PTC (Tala HEP)
DVC Grid Supply
Sub total
State Sectors (MKWH)
WBPDCL
DPL(220/132KV)
Sub total
Short Term (MKWH)
NVVN
PTC
TPTCL
MPPL
DVC
Indian Power Exchange Limited
Power Exchange of India Limited
RPG Power trading Co. Ltd
Swap Power (in)
Sub total
Private Sectors(MKWH)
Electrosteel
Neora Hydro
Nippon Power
78
2011-2012

Sl.
No.
7.4
8.0
8.1
8.2
8.3
8.4
9.0
10.0
11.0
12.0
13.0
14.0
15.0
16.0
17.0
2012-2013
Particulars
Kamahatty Biomass
Tata Power (Hooghly Met Coke)
Shree Renuka Sugar
Ramsarup Loha Udyog
Amrit Bio
Himadri Chemical
Reshmi Cement
Ennore Coke
Bengal Energy Limited
PTC ( J & K)
TPTCL (Mithon Right Bank)
TPTCL (Naptha Jhakri)
Sub-Total
Total (7.1+7.2+7.3+7.4)
Energy Injected to WBSEDCL System from Power Purchase
Central Sectors (MKWH)
DVC (Radial Mode)
Govt. of Sikkim
Sub-Total
State Sectors (MKWH)
DPL (Radial Mode)
Sub-Total
Private Sectors(MKWH)
DPSC
CESC (Radial Mode)
Sub-Total
Non Conventional Source of Energy
WBREDA (Frajergang)
Sub-Total
Total (8.1+8.2+8.3+8.4)
Power Draw under UI mode (UI IN)
Total Power Purchase (7+8+9)
Grid Loss(Inter State Grid)
Gross Energy Available WBSETCL System (5+7+9-11)
Transmission Loss in WBSETCL System (MU)
Transmission Loss in WBSETCL System as a % of (13/12*100)
Gross Energy Available at WBSEDCL boundary from
WBSETCL System(12-13)
Energy Outgo from WBSETCL System
Sale to person other than licensee & consumer including
Transmission loss
Sale to Sikkim
Bulk Supply to Licensee from WBSEDCL System (CESC,DPL)
Pumping Power to PPSP including Transmission & Transformation
loss
Swap Power (out) including Transmission loss
Energy Outgo under UI mode (UI OUT) including
Transmission loss
Transmission Loss for sale to Sikkim & licensee at EHV
Total
Net Energy available at WBSEDCL boundary from WBSETCL
System(15-16)
79
2011-2012
0.000
167.445
49.741
0.000
0.000
27.494
3.344
4.036
124.482
975.011
745.572
227.863
2405.636
32726.242
3.830
152.190
20.234
0.000
4.289
10.847
34.718
1.647
1.135
0.000
0.000
0.000
307.247
29462.923
497.356
0.081
497.437
497.772
0.100
497.872
84.791
84.791
92.656
92.656
204.026
48.506
252.532
196.127
46.821
242.948
1.116
1.116
835.876
549.532
34111.650
287.008
34222.357
1197.514
3.50
0.422
0.422
833.898
497.660
30794.481
196.582
30925.599
1113.281
3.60
33024.843
29812.318
1393.091
645.317
47.114
1786.239
48.660
1069.250
1122.172
1244.223
1141.571
1402.807
393.395
784.501
66.495
5950.077
41.748
5236.506
27074.766
24575.812

Sl.
No.
18.0
19.0
20.0
21.0
21.1
21.2
21.3
21.4
21.5
23.0
24.0
2012-2013
Particulars
Energy Injected directly to WBSEDCL System(6+8)
Energy Received for Wheeling at 33 KV
Total Energy available in WBSEDCL System(17+18+19)
Total Utilisation(MKWH)
Bulk Supply to Licensee from Dist. System (DPSC)
Sale to WBSEDCL own Consumer
Centralised Bulk
De-Centralised Bulk
L&MV
Sub-Total
Units Wheeled
Additional unit allowed for wheeling
Utilized in own premises of WBSEDCL
Total (21.1+21.2+21.3+21.4+21.5)
Distribution Loss(MU) (20-21)
Distribution Loss as percentage
80
2011-2012
852.583
10.518
27937.867
853.035
12.657
25441.504
255.867
267.871
8494.469
8170.977
12039.607
20534.076
9.739
0.779
42.000
20842.461
7095.406
25.40
10619.626
18790.603
11.720
0.938
40.000
19111.132
6330.372
24.88
Category wise Sales in MU & No. of Consumers as on 31.03.2013

MU SOLD
Sub Category
Category
Domestic & Lok deep
L & MV
(including
HV & EHV
(Including NTESC,
NTESC) Manual Bill
& Pre-paid
Consumer)
NO. OF CONSUMERS
Grand
Total
L & MV
(including
HV & EHV
(Including NTESC,
NTESC) Manual Bill
& Pre-paid
Consumer)
Grand
Total
21.148
7203.160
7224.308
59
10787452
10787511
Commercial
810.395
2016.143
2826.538
489
1030149
1030638
Public Utility
104.168
25.252
129.420
145
4507
4652
3.470
0.000
3.470
15
15
23.404
0.363
23.767
49
57
106
3.408
1.454
4.862
29
447
476
33.213
5.233
38.446
42
2112
2154
1.083
0.003
1.086
0.097
0.000
0.097
Short term
0.004
7.424
7.428
4755
4756
Temporary
0.000
29.993
29.993
791
791
979.242
2085.865
3065.107
774
1042823
1043597
0.061
1245.438
1245.499
162635
162636
175.991
175.991
8217
8217
6055.267
1208.475
7263.742
2127
85403
87530
145.515
120.678
266.193
203
5995
6198
Cold Storage
347.983
0.000
347.983
490
490
Traction
945.253
0.000
945.253
22
22
0.000
0.000
0.000
8494.469 12039.607 20534.076
3677
12092525
12096202
Sports Complex
Pvt. Educational
Institute
Commercial
Plantation
Commercial &
others
Construction
Emergency supply
Common service
for Industrial
Estate
Total
Commercial
Irrigation
Public Lighting
Industrial
Public water works & Sewarage
Pumping
Outside State (JSEB)

Sub-total (A)
Other Licensee
CESC
1575.453
1575.453
DPSC
255.867
255.867
DPL
210.786
210.786
47.114
47.114
Sikkim
Sub-total (B)
( C) Sale to person other than
2089.22
2089.22
1344.333
1344.333
1101.616
1101.616
13029.638 12039.607 25069.245
3684
12092525
12096209
Licensee and consumer

( D) Swap Out
TOTAL (A+B+C+D)
81

WEST BENGAL STATE ELECTRICITY DISTRIBUTION COMPANY LIMITED
Balance Sheet as at 31 st March 2013
Particulars
I. EQUITY AND LIABILITIES
1. Shareholders funds
(a) Share capital
(b) Reserves and surplus
Sub-Total
2. Share application money pending allotment
Sub-Total
3. Non-current liabilities
(a) Long-term borrowings
(b) Defered tax liabilities (Net)
(c) Other long term liabilities
(d) Long-term provisions
Sub-Total
4. Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
Sub-Total
Total
II. ASSETS
Non-current Assets
1. (a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangibe assets under development
Sub-Total
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets
Sub-Total
2. Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables (including Unbilled Revenue)
(d) Cash and Bank Balances
(e) Short-term loans and advances
(f) Other current assets
Sub-Total
Total
Notes on Financial Statements
In term of our Report of even date
For Mookherjee Biswas & Pathak
CHARTERED ACCOUNTANTS
FRN. 301138 E
(S. P. Mukherjee)
Partner, Membership No. 10807
Place : Kolkata
Date : 14th June, 2013
( K.K.Ghosh)
Director (Finance)
Date : 14th June, 2013 82
As at 31st
As at 31st
March 2013
March 2012
( in lakhs)
Note No
(1A)
(2)
225674
345132
570806
0
0
255840
275814
531654
0
0
(3)
(4)
(5)
(6)
609754
0
675147
21663
1306564
564459
0
535531
17745
1117735
(7)
(8)
(9)
(10)
271977
289107
97160
258357
916601
2793971
129041
165297
85760
249066
629164
2278553
1079996
0
218670
0
1298666
1190
0
53587
534696
589473
962574
0
192172
0
1154746
801
0
30298
208714
239813
0
57005
449162
130938
7686
261041
905832
2793971
0
50820
309482
130704
15247
377741
883994
2278553
(11)
(12)
(4)
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(20)
1 to 31
For and on behalf of the Board
(P.K.Banerjee)
Company Secretary
(Rajesh Pandey)

Statement of Profit and Loss for the year ended 31 st March 2013
Particulars
1.
2012-2013
Note No
( in lakhs)
1741710
1408230
8275
9055
1749985
1417285
(21)
(22)
(a) Revenue from operations

(b) Other income
Total Revenue
Expenses
(a) Purchases of Power & Transmission Charges
(b) Employee benefits expenses
(c) Finance costs
(d) Depreciation
(e) Other expenses
Total Expenses
3. Profit before exceptional and extraordinary items
and Tax (1-2)
4. Exceptional items
5. Profit before extraordinary items and Tax (3 - 4)
6. Extraordinary items
7. Profit (+) / Loss (-) before Tax (5 - 6)
8. Tax expenses :
(a) Current tax
(b) Deferred tax
Sub-Total
9. Net Profit (+) / Loss (-) for the period (7-8)
10 each
10. Earning per equity share of face value of
(a) Basic and diluted EPS before Extraordinary items - (in )
(b) Basic and diluted EPS after Extraordinary items - (in )
2011-2012
2.

Notes on Financial Statements
FRN. 301138 E
(S. P. Mukherjee)
Place : Kolkata
(23)
(24)
(25)
(26)
(27)
1449530
96125
81271
39622
72601
1739149
1156768
90823
68724
34138
56569
1407022
10836
10263
0
10836
0
10836
0
10263
0
10263
2664
0
2664
8172
2915
0
2915
7348
0.36
0.36
0.29
0.29
(28)
1 to 31
( K.K.Ghosh)
Director (Finance)
(P.K.Banerjee)
Company Secretary
83
(Rajesh Pandey)

Cash Flow Statement for the year ended 31 st March 2013
2012-2013
Particulars
2011-2012
( in lakhs)
A. CASH FLOW FROM OPERATING ACTIVITIES :
Net Profit/(Loss) Before Taxation & Extraordinary items
Adjustment For :
Depreciation
Interest & Financial Charges
Bad Debts & Provision
Interest/Dividend etc. Income
Sub-Total
Operating Profit Before Working Capital Change
Adjustment For :
Stores & Spares
Sundry Debtors
Other Current Assets
Loan & Advances
Current Liabilities & Provision, etc
Sub-Total
NET CASH FROM OPERATING ACTIVITIES (A)
B. CASH FLOW FROM INVESTING ACTIVITIES
Decrease (Increase) in Fixed Asets
Decrease (Increase) in Work in Progress
(Increase)/Decrease in Investments
Interest/Dividend Income
NET CASH GENERATED FROM INVESTING ACTIVITIES (B)
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from Borrowing (Net)
Proceeds from Share Capital
Proceeds from Consumers contribution & capital subsidy
(Reserve & Surplus)
Interest & Financial Charges
NET CASH GENERATED FROM FINANCING ACTIVITIES (C)
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS
(A+B+C)
CASH & CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
CASH & CASH EQUIVALENTS AT THE END OF THE YEAR
10836
10263
40881
81271
7029
(4332)
135685
35789
68724
4580
(4279)
115077
6185
141206
209281
15728
(288035)
84365
51320
16718
150895
222606
(3339)
(286207)
100673
14404
(166064)
(26498)
(7388)
3925
(196025)
(169898)
(39575)
(48113)
4059
(253527)
188231
(30166)
175507
0
61146
118484
(81271)
137940
(68724)
225267
(6765)
(13856)
73583
66818
87439
73583
Notes :
a)
The Cash Flow Statement has been prepared under the indirect method as given in the Accounting Standard
on Cash Flow Statement (AS-3) as per The Companies (Accounting Standards) Rules, 2006.
b)
Previous years figures have been regrouped/rearranged wherever necessary.
This is the Cash flow Statement referred

to our report of even date
FRN. 301138 E
(S. P. Mukherjee)
Place : Kolkata
( K.K.Ghosh)
Director (Finance)
Date : 14th June, 2013 84
(P.K.Banerjee)
Company Secretary
(Rajesh Pandey)
SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PREPARATION OF FINANCIAL STATEMENTS
GENERAL
The financial statements are prepared under the historical cost convention and in
accordance with Generally Accepted Accounting Principles and applicable Accounting
Standards in India. The financial statements, by and large, adhere to the relevant
provisions of the Companies Act, 1956. As a matter of prudence, Cash basis accounting
have been adopted for Rent Receipt, Interest income on staff advances, License fees,
Municipal and Vehicle Taxes, Membership & Subscriptions, AMC of office equipments
and Revenue Income on Delayed Payment Surcharges/Reconnection Fees, Prepaid
metering and grants.
1.
Accounting Convention
These financial statements have been prepared to comply in all material aspects with
the applicable accounting principles in India, including Accounting Standards notified
u/s 211(3C) of the Companies Act, 1956 and the relevant provisions of the Companies
Act, 1956 and the Regulations under the Electricity Act, 2003, to the extent applicable.
A summary of important accounting policies which have been applied consistently are
set out below.
2.
Capital Expenditure and Fixed Assets

2.1
Fixed assets shall be broadly classified under the following categories as

applicable to the company.
GENERATION ASSETS
DISTRIBUTION ASSETS
METERING ASSETS
OTHER ASSETS
Similarly, Capital Works In Progress accounts shall also be classified under
the above four broad heads.
2.2
Assets are stated at original (historical) cost of acquisition including freight,

insurance, duties, taxes and other incidental expenses incurred to bring the
assets to use.
2.3
Fixed Asset is accounted for through capital works in progress account and
transferred to the appropriate fixed asset account when the assets are put
to use on commissioning.
2.4
In case of commissioned assets, where final settlement of bills with contractor

85
is yet to be effected, capitalization is done, subject to necessary adjustment

in the year of final settlement.
2.5
Spare units/service units as when procured are capitalized and depreciation

is charged.
2.6
Insurance spares which can be used only in connection with an item of fixed
assets and whose use is expected to be irregular are capitalized and
depreciated over the residual useful life of the related plant & machinery.
2.7
Any cost for addition or improvement to fixed assets that results in increasing
the utilities or capacity or life of the assets shall be capitalized and included
in the cost of assets.
2.8
Expenditure on replacement of any part (one time expenses) costing more

than 10% of cost of such assets subject to a minimum of
500000/-shall be
treated as capital expenditure and thus capitalized except repair cost of
transformers.
2.9
The trial run expenses for Generation Assets during capitalisable period
shall be capitalised after netting off revenue earned from sale of power (infirm
power).
2.10 Capital expenses of assets not owned by company shall be reflected as distinct
item in capital works in progress till the period of completion and thereafter
under fixed assets.
2.11 Any fixed assets acquired/received free of cost shall be recorded at nominal
value at
1/-.
2.12 In respect of works executed through on contract basis (turnkey project),
completion method of accounting is adopted.
2.13 The assets costing
5000/- or less individually are depreciated at 100% in
the year they are put to use.
2.14 For impairment of assets, if carrying amount of fixed assets exceeds the
recoverable amount on the reporting date, the carrying amount is to be
reduced to the recoverable amount by charging under Profit & Loss Account.
2.15 Physical Verification of Fixed Assets shall be done departmentaly on yearly
basis with conductance of Physical Verification of Fixed Assets by an External
Agency once in every three years.
3.
Capital Grants and Consumers Contribution for Assets

3.1
Consumers contribution, grants and subsidies received towards cost of capital

assets are treated as capital receipts.
3.2
Such capital receipt for specific depreciable assets are shown under Reserve
and Surplus. On commissioning of such assets the related balance under
86
Reserve and Surplus is amortised for the amount of depreciation charged

in respect of Fixed Assets constructed from such fund.
4.
Borrowing Costs
The borrowing cost (including Bond Issue expenses, interest, Front End Fee, etc)
directly related particular project under construction is capitalized. On
commissioning of the assets the cost is charged to revenue account. Other borrowing
cost is capitalized as per policy approved by the Board of Directors.
5.
Treatment of Expenditure During Construction

Indirect Expenses capitalized are allocated to various Capital Works in Progress
Account in the ratio of balances under such account.
6.
Accounting of Construction Contracts

In respect of works executed through on contract basis, completion method of
accounting is adopted.
7.
Accounting of Software Costs

Cost of computer software recognized as intangible is amortised on straight line
method over a period of five years.
8.
Treatment of Claims
Claims by Contractors / Suppliers on the Company for liquidated damage,
escalation, bonus and revision in rates which are not specifically covered under
respective contracts are taken into account on acceptance.
9.
Depreciation
9.1
Depreciation is provided on straight line method at the rates and norms

specified in the Regulations notified by the West Bengal Electricity
Regularity Commission, a statutory authority constituted under the
Electricity Act, 2003. However, such rates are different from the rates
specified in the Companies Act, 1956. Ministry of Power has issued Tariff
Policy which provides that the rates of depreciation notified by the CERC or
State Regularity Commissions would be applicable for the purpose of tariffs
as well as accounting. No depreciation is charged for the freehold land as
well as the land acquired on perpetual lease and does not have a limited
useful life.
9.2
Depreciation is not being provided once the Assets come down to 10% of the
residual Value.
87
10. Foreign Currency Transaction

10.1 Transactions denominated in foreign currencies are recognized at the
exchange rate prevailing on the date of transaction or that approximates
the actual rate at the date of transaction.
10.2 Exchange difference arising on the settlement of transaction due to difference
of rates at which they were initially recognized during the period, or reported
in previous financial statements, are to be recognized as income or as
expenses in the period in which they arise.
10.3 Moneytary items denominated in foreign currencies at the year end are
restated at year end rates.
11. Valuation of Investment
11.1. Short Term Investments are valued at lower of cost and fair value.
11.2 Long term investments are carried on costs. Provision for diminution in the
value of long term investment is made only if such a decline is other than
temporary in the opinion of the management.
12. Revenue/Expenditure Recognition
12.1 The Revenue from Sale of Power as well as Purchase of Power expenses are
accounted for on accrual basis. At the year end, the provisions are made if
no bills are received or raised till date of closing of the respective financial
year.
12.2 Revenue income and expenditures are recognized as and when accrued by
written communication from any Regulatory or Statutory authority, unless
the same is under litigation or process of litigation. Further Income
Receivable through Regulatory Mechanism in respect of additional cost
incurred during the period over and above cost allowed in prevailing tariff
order is recognized based on the applicable available orders and regulations
of Regulatory Authorities.
12.3 Income Realizable Through Regulatory Mechanism is to be recognized when
it is probable that the future economic benefits associated with it will flow
to the company as a result of the actual or expected actions of the regulator
under the applicable regulatory framework and the amount can be measured
reliably.
12.4 Bilateral contracts between two utilities for exchange of power by purchase
and sale (or vice versa) of quantities of energy as per contract (SWAP) are
88
accounted for by average pool cost of power purchase per unit (kwh) excluding
transmission charges for the year. Energy balances against SWAP contracts
not settled during the same financial year are accounted for on the basis of
approved accounting policy of the Company.
12.5 The tariff rate of sale/purchase of power under jurisdiction of CERC/WBERC
is recognised as ordered by the Regulators.
12.6 Sale of electricity does not include Electricity Duty as the same is not the
income of the company. Electricity Duty payable to Govt. of West Bengal is
accounted for on the amount of Electricity Duty collected during the year.
12.7 Bad and doubtful debts are provided in the accounts based on the policy
framed by the management. Debts, which are bad and not realisable, are
written off at the end of each year. In case of billing against theft of power,
penalty portion is separated from energy charges and on which electricity
duty is not charged.
12.8 Policy had been framed for any waiver, rectification, adjustments of Annual
Minimum Guaranteed Revenue (AMGR) & Late Payment Surcharge (LPSC)
with specific delegated financial powers for such approval. As per such
approval, necessary accounting shall be made in Debtors Account.
13. Material Accounting
13.1 All costs incurred to bring the materials and to its present form (i.e. location
and condition) are included in the material cost.
13.2 Consumption accounting is done immediately on issue of materials from
stores other than advance to contractors, in which case it is based on the
details of consumption filed by the Contractors.
13.3 All Store items are issued at running weighted average issue rates prevailed
in the accounting units.
13.4 Stock for construction Projects is treated as Capital Stores and for O&M
purchase as operational stores.
13.5 Provisions for liability is created in respect of all accepted purchase materials,
irrespective of suppliers bills received or not.
13.6 At the end of the year the closing stock is valued at cost or net realizable
value whichever is lower.
13.7 Write off/write in of stock arising out of physical verification and/or otherwise
is accounted for only on approval of the appropriate authority.
89
13.8 Unutilised materials issued at site, the ownership of which lies with the
Company are added as the part of the inventory at the year end.
13.9 Provision for slow moving, non-moving, obsolete and scrap materials are
considered on the basis of policy framed by the management.
14. Employee Benefits
14.1 Employee Benefits include benefits provided to employee or their spouses,
Children and other dependents and may be settled by payments made either
directly to the employees, spouses, children or other dependents or to their
legal heirs or nominees or to others such as Trusts, Insurance Company.
14.2 An employee may provide service at a full time, part time, casual or
temporary basis. Employee includes full time Directors and other
Management Personnel.
14.3 All the major personnel costs e.g. Salaries, wages, Bonus, Companys
Contribution to PF and FPS etc. shall be accounted for on accrual basis
without any actuarial valuation.
14.4 Terminal Benefits like Gratuity, Pension, Leave Encashment etc. shall be
accounted for on accrual basis using actuarial valuation.
14.5 Personal costs like Overtime, Medical Reimbursement will be accounted for
on accrual basis.
14.6 Employee cost shall be capitalized on the basis of policy framed by the
management.
15. Deferred Revenue Expenditure
15.1 Swapping charges for restructuring of borrowing cost will be amortised.
16. Other Accounting Area
16.1 All prior period Income and Expenditure crystallised during the year has
been shown under Current Years Account.
16.2 The nature of contingent liability has been disclosed in the Notes to
Accounts.
16.3 The provisions are recognised when the company has a present legal and
constructive observation as a result of the past events for which it is probable
that an outflow of economic benefits will be required to settle obligation and
a reliable estimate can be made for the amount of the obligation.
90
17. Use of Estimates

The preparation of Financial Statements requires estimates and assumptions to
be made that affect the reported amount of assets and liabilities on the date of the
Financial Statements and the reported amount of revenues and expenses during
the reporting period. Difference between the actual results and estimates are
recognised in the period in which the results are known /materialised.
18. Segmental Reporting
Since the Company has only one integrated business, i.e. Generation & Distribution
of power, it has no reportable segment under AS 17.
19. Provision for current and Deferred Tax
The provision for current tax is made after taking into consideration benefits
admissible under the provisions of the Income Tax Act, 1961. Deferred tax resulting
from Timing differences between the taxable and accounting income is accounted
for using tax rate and laws that are enacted or substantively enacted as on the
Balance Sheet date. The deferred tax asset is recognized and carried forward only
to the extent that there is a reasonable/virtual certainty that the assets will be
realized in future.
91

(WBSEDCL)
NOTES ON FINANCIAL STATEMENT FOR THE YEAR
ENDED 31 ST MARCH , 2013
1
a)
WBSEDCL was incorporated under Companies Act, 1956 on 16.02.2007.

The company received on 21.03.2007 the Certificate for Commencement of
Business issued by the Registrar of Companies, West Bengal. The Company
is a Government Company within the meaning of Section 617 of the
Companies Act, 1956 and entire paid up Share Capital is held by the
Government of West Bengal and its nominees. The Company is engaged in
the Business of Distribution of Electricity and insignificant generation of
Hydro-Electricity and hence segment reporting is not required.
b)
The detailed break up order of balance as revested by Govt. of West Bengal

vide No. 12-PO/O/III/3R-29/2006 dated 25.01.2007 read with 313-PO/O/III/
3R-29/2006 dated 19.09.2008 under final transfer scheme has not been issued
till date. The detailed accounting was made on the basis of recommendation
of PricewaterhouseCoopers (PWC), the consultant of Govt. of West Bengal
on Power Sector Reform of West Bengal.
c)
The Company finalised the financial statements of 2012-13 for the 6th year
of its business.
d)
Amount of assets and liabilities was rounded off to the nearest lakhs of
rupees in the Balance Sheet, Profit & Loss Account, Cash Flow Statement
and Notes.
e)
Previous year figures was regrouped and re-arranged wherever considered

necessary.
NOTE No. - 1A : Share Capital

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
A. Authorised
4050000000 Equity Share of 10 each
B. Issued Subscribed and Paid up :
Equity Share Capital from State Government :
2256739863 Equity Share (2558399863 Nos Previous
year) of 10 ech fully paid up
Issued for consideration other than cash
Total
92
405000
405000
225674
225674
255840
255840
Reconciliation of the shares outstanding at the beginning and at the end

of the reporting period
Particulars
As on 31st March 2013

Number of
shares
Opening and Closing Balances
2256739863
Amount
in lakhs)
225674

Number of
shares
2558399863
Amount
in lakhs)
255840
Details of shareholders holding more than 5% shares in the Company

Particulars
Governor of West Bengal
Number of
shares
% of
holding
Number of
shares
% of
holding
2256739863
100
2558399863
100
1.1
At the time of formation of the Company 50000 nos. of Equity share of

10/- each was allotted to various persons being the signatories of the
Memorandum of Association of the company. However, the beneficial interest
for all the shares are lying with the Government of West Bengal, more
specifically with the Governor of West Bengal. The names of the first
shareholders are available in the Memorandum and Article of Association
issued by the Company.
1.2
In pursuance to the order dated 14th January 2011 of the Governor of West
Bengal, directing the Company to reduce the Equity Share Capital by
30166 lakhs with subsequent increase in power purchase liability of West
Bengal Power Development Corporation Ltd., the Company submitted
application before the Ministry of Corporate Affairs, Government of India,
for approval of reduction of share capital and the same was approved on
30/07/2012. Appropriate effect of the same has been considered in the
accounts of 2012-2013.
93
NOTE No. - 2 : Reserves & Surplus

As on 31st
As on 31st
March 2012
March 2013
( in lakhs)
Particulars
A. Fund for Unforseen Exigencies

Opening Balance
15298
(+) Current Year Transfer
1189
(-) Written Back in Current Year
0
Closing Balance
16487
B. Debenture Redemption Fund
Opening Balance
2536
1834
0
Closing Balance
4370
C. Subsidies & Grants towards Cost of Capital Assets
Opening Balance
176760
50418
4914
Closing Balance
222264
D. Consumers Contributions towards Capital Assets
Opening Balance
102452
18490
2848
Closing Balance
118094
E. Surplus
Opening Balance
(21232)
(+) Net Profit / (Net Loss) For the current year
8172
(+) Transfer of Net Profit / (Net Loss) for WBREDCL
0
(+) Transfer from Reserves
0
(-) Proposed Dividends
0
(-) Interim Devidends
0
(-) Transfer to Reserves
3023
Closing Balance
(16083)
Total (A + B + C + D + E)
345132
Note :
1. Reserve specifically represented by earmarked investments shall be termed as a fund
2. Debit balance of P & L shall be shown as negative figure under surplus instead of presenting on
side
11330
3968
0
15298
834
1702
0
2536
74853
103396
1489
176760
81643
22434
1625
102452
(21593)
7348
(1317)
0
0
0
5670
(21232)
275814
the asset
2.1
During the year an amount of

18490 lakhs was transferred to reserve
due to Completion of asset constructed out of consumers contribution for
service connection.
2.2
During the year an amount of

50418 lakhs was transferred to reserve
due to completion of asset constructed out of fund received from Government
and local bodies for construction of capital assets and grant received from
Govt. during the financial year 2012-13.
2.3
Interest on fixed Deposit invested against Fund for Unforeseen exigencies

created up-to 2011-2012 amounting to 1189 lakhs was added to such reserve.
94
2.4
During the financial year 2012-13 an amount of 1668 lakhs was transferred
to Debenture Redemption Fund as per provisions of the Companies Act 1956.
2.5
Interest on fixed Deposit invested against Debenture Redemption Fund

created up-to 2011-2012 amounting to 166 lakhs was added to such reserve.
NOTE No. - 3 : Long Term Borrowings

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
A. Secured
i)
Loan from Power Finance Corporation Limited A/c RAPDRP
ii) Loan from Rural Electrification Corporation Limited
iii) Term Loan from Bank
Term Loan from Punjab National Bank
Mid-Term loan from Canara Bank
iv) 9.34% Non Convertible Redeemble Bond 2025
(Secured by hypothecation of Fixed Assets)
(Redeemable at par at the end of 15th year)
v) 10.85% Non Convertible Redeemble Bond 2026
(Secured by hypothecation of Fixed Assets)
(Redeemable at par at the end of 15th year)
Sub-Total
B. Unsecured
i)
Loan from State Govt.
ii) Loan from State Govt. (Taken over from WBREDCL)
iii) Loan from Power Finance Corporation (Against Govt. Guarantee)
iv) Loan from Rural Electrification Corporation (Against Govt. Guarantee)
v) Loan from Rural Electrification Corporation (Taken over from WBREDCL)
Bonds :
vi) 8.5% Pension Trust Bonds 2016 (Against Govt. Guarantee)
(Redeemable in 5 Equal Instalments after a 10 year moratorium
period on repayments. Moreover, the Company has a call option
to redeem the Bonds in whole or part any time before maturity)
vii) 8.5% WBSEB Power Bonds Series 1/2018
(Taxable, Unsecured, Non Convertible, Redeemble Bonds)
(The principal Amount will be repaid in 60 quarterly instalments
from 01.04.2003 @ 5 lakhs per instrument in respect of 117 Bonds
with face value of 3 crore each & 2.06 lakhs for first instalments
& 1.66 lakhs for remaining 59 instalments in respect of 1(one)
Bond with face value of 1 crore)
viii) Interest Accrued & Due - 8.5% Pension Trust Bonds 2016 (Against
Govt. Guarantee)
Sub-Total
Sub-Total (A + B)
C. Less :- Current maturities of long term borrowings transferred to other
Current liabilities (Refer Note 9)
Total (A + B - C)
23178
87096
17591
33873
1235
10000
50000
3500
0
50000
50000
50000
221509
154965
198579
11033
3820
25274
10323
209204
10738
5336
27398
10323
153000
153000
11147
13493
13005
13005
426181
647690
442497
597462
37936
609754
33002
564459
3.1
Debt servicing of loans and borrowing were made within time for actual
amount accrued and due.
3.2
8.5 % Pension Trust Bonds 2016 has been guaranteed under Govt. Guarantee.
95
3.3 DETAILS OF LOAN TAKEN FROM POWER FINANCE CORPORATION LTD

Sl.
No.
Security
Rate
of
Interest
(%)
Govt. Guaranted
14.10
Govt. Guaranted
7.75 - 8.75
Govt. Guaranted
9.00 - 10.75
Govt. Guaranted
9.00 - 10.75
Govt. Guaranted
12.35
Govt. Guaranted
12.35
Govt. Guaranted
12.35
10
11
Hypothecation of all borrowers newly

financial assets. Hypothecation of
existing assets comprising plant &
machinery and also lines & cable
networks in Arambag Town and M3
33/11 KV substation in Bidhannagar
Town in the state of West Bengal for
Rs. 164.37 crores.
The whole of the movable Assets,
present & future pertaining to newly
financed Assets created / to be created
under RAPDRP, Part-B under 23
town projects as well as existing
movable assets (Overhead lines)
created at RE-projects, Berhampore,
Murshidabad in West Bengal
The whole of the movable Assets,
present & future pertaining to newly
financed Assets created / to be created
under RAPDRP, Part-B under 22
town projects as well as existing
movable assets (Overhead lines)
created at RE-projects, Berhampore,
Murshidabad in West Bengal
Movables and stocks to be created
i.r.o. the project including out of loan
from PFC Ltd. in various circles of
WBSEDCL as listed in Schedule II
of the Bulk Hypothecation
Agreement and existing R.E. Assets
comprising of Switchgear - 400 K.V.
in South Parganas R.E. Project.
from PFC Ltd. in various circles of
WBSEDCL as listed in Schedule II of
the Bulk Hypothecation Agreement
and existing R.E. Assets comprising
of overhead lines and PILC UG cables
in South Paraganas R.E. Project.
Tenure
Outstanding
Last
(Incl.
Moratorium Repayment Balance As
moratorium
on 31.03.13
Period
(Year)
period)
( in lakhs)
13 Years
3 Years
2016-17
707
12 Years &
9 months
14 Years
2 Years &
9 months
4 Years
2018-19
446
2015-16
646
12 Years 6
months
11 Years &
3 months
11 Years &
3 months
11 Years &
3 months
2 Years
6 months
1 Years
3 months
1 Years
3 months
1 Years
3 months
2014-15
533
2015-16
341
2015-16
558
2015-16
589
9.00
10 Years
3 Years
2019-20
12062
9.00
20 Years
5 Years
2030-31
4243
9.00
20 Years
5 Years
2030-31
3962
9.00
20 Years
5 Years
2032-33
1923
9.00
10 Years
3 Years
2022-23
988
Total
26998
96
3.4
Total value of secured, redeemable, non-convertible bonds issued by the

company on private placement basis stood at 100000 lacs. These securities
are listed with Bombay Stock Exchange in Wholesale Debt Market. Adequate
Debenture Redemption Reserve has been created during the period as
required under Section 117C of the Companies Act, 1956.
3.5
As per terms & condition of R-APDRP Part A Loan received from Govt of
India through the nodal agency Power Finance Corporation Limited (PFC)
the entire amount of loan will be converted to grant depending upon the
fulfillment of the terms & condition of the loan. Regarding RAPDRP Part B
loan 50% will be considered as loan and balance will be converted to grant
depending upon the fulfillment of the terms & condition of the loan
agreement. Fund so far received till the end of the financial year 2012-13
has been accounted for as loan and interest has been provided in the accounts
accordingly.
3.6 DETAILS OF LOAN SANCTIONED FROM RURAL ELECTRIFICATION

CORPORATION LTD. AS ON 31.03.2013
Rate
of
Interest
(%)
Outstanding
Tenure
Last
(Incl.
on 31.03.13
moratorium
Period
(Year)
( in lakhs)
period)
Sl.
No.
Security
8.75 - 14.00
141
8.75 - 14.00
95
8.75 - 14.00
78
Exclusive
first
charge
by
Hypothecation of movable properties
including movable machinery,
equipment machinery, machinery
spares, tools, implements &
accessories installed and its stock of
materials and equipment covering 8
towns-Krishnanagar, Santipur,
Nabadwip, Jalpaiguri, Burdwan,
Jamuria, Kulti, Raniganj of Nadia,
Jalpaiguri & Burdwan Circles of
Nadia, Jalpaiguri & Burdwan district
in the state of W.B. to cover the
amount of loan, interest, penal
interest & other charges.
Exclusive first charge by Hypothecation
of movable properties including
movable machinery, equipment,
machinery, machinery spares, tools,
implements & accessories installed
and its stock of materials &
equipment of Haldia, Burdwan-II,
Jalpaiguri-II, Asansol, Siliguri, GIS
Mapping in supply stations &
Augmentation of DCCs adequate to
cover the amount of loan, interest,
penal interest and other charges.
8.75 - 14.00
13 Years
3 Years
2018-19
375
8.75 - 12.00
355
8.75 - 14.00
83
8.75 - 14.00
114
8.75 - 14.00
70
10.00 - 12.00
403
10.75 - 12.00
338
10.00 - 12.00
1690
10.00 - 14.00
10.00 - 14.00
285
13 Years
3 Years
2019-20
11.00 - 14.00
8.00 - 14.00
97
814
123
2017-18
124
Sl.
No.
Security
Hypothecation of all future movable assets
and stores items to be created out of the
loan to be utilized for improvement of its
existing system by installation of HT shunt
capacitor banking 83 nos 33/11 kv sub
stations catering four Zones viz, Kolkata,
Burdwan, Berhampore and Midnapore in
the state of W.B
Rate
of
Interest
(%)
10.75-12.25
Tenure
Outstanding
Last
(Incl.
moratorium
on 31.03.13
Period
(Year)
period)
( in lakhs)
13 Years
3 Years
2021-22
1333
Hypothecation of all future movable

assets and stores items to be created
out of the loan amount to be utilised
for renovation & modernisation
(R&M) of 27 MW (3 X9MW) of
Jhaldhaka Hydro-Electricity power
plant at Darjeeling District within
the state of West Bengal .
10.75-12.25 13 Years &

8 months
44 months
2023-24
5981
First charge by Hypothecation of

movables properties including
movable machinery, equipment,
machinery, machinery spares, tools,
implements and accessories installed
and its stock of materials and
equipment of Jaldhaka HydroElectric power plant by 9MW (1X
9MW)unit at Darjeeling District
within the state of W.B.adequate to
cover the amount of loan, interest,
penal interest and other charges.
10.75-12.25 12 Years &

5 months
29 months
2023-24
1727
10.54 - 11.05
2025-26
788
10.54 - 11.05
2025-26
4028
10.54 - 10.80
2025-26
3486
10.54 - 11.49
2024-25
1614
10.54 - 10.80
2025-26
1657
10.54 - 11.49
2024-25
590
2024-25
168
10.54 - 11.49
2024-25
63
10.54 - 11.49
2024-25
119
10.54 - 11.49
2024-25
526
10.53 - 11.05
2024-25
4891
10.54 - 11.05
2024-25
9956
12.00 - 12.25
2024-25
7823
10.54 - 11.05
2024-25
6469
12.25
2024-25
8320
First charge by hypothecation of all

the future movable properties like
Lightning Arrester, AC 3 Phase 2
Wire Solid State (Static) Meter,
ACSR
DOG/WOLF/Squirrel
Conductor, ACSR & AA Conductor,
33KV XLPE Cable, 33/11 KV, 10
MVA & 6.3 MVA Transformers,
Switchgear with VCB, 11 KV, 3 PH,
200A O/D Type Isolator, 11KV &
33KV Pin & Disc Insulator, LT & HT
Areal Bunched Cable, AC Single
Phase 2 Wire Solid State (Static)
Meter to be installed in various
districts of West Bengal
10.54 - 11.49
98
13 Years
2 Years
Sl.
No.
Security
Rate
of
Interest
(%)
Tenure
Outstanding
Last
(Incl.
moratorium
on 31.03.13
Period
(Year)
period)
( in lakhs)

from RECL in various circles of 11.50 - 11.75
WBSEDCL as listed in Schedule IV
of the Bulk Hypothecation
Agreement.
15 Years
5 Years
2027-28
3599
2027-28
2021
2027-28
962
2027-28
400
2027-28
854
2027-28
2578
2027-28
352
2027-28
471
2027-28
1762
2027-28
2029
2027-28
853
2027-28
780
2027-28
999
2027-28
1221
2027-28
484
2027-28
530
2027-28
2575
2022-23
25274
Total
112370
3.7 DETAILS OF OTHER LOANS & BONDS AS ON 31.03.2013

( in lakhs)
Sl.
No.
Name
Punjab National
Bank
Security
All the tangible movable

machinery and plant of the
Company together with spares,
tools and accessories and other
movable both present & future,
relating to the project undertaken
with loan for metering of 1 lakh
un-metered submersible tube
wells.
99
Rate
of
Interest
(%)
Tenure
(Incl.
moratorium
period)
Moratorium
Period
Last
Repayment
(Year)
Outstanding
Balance
As on
31.03.13
11.75 12.00
6 Years
2013-14
1235

( in lakhs)
Sl.
No.
Name
Capital Bond
Series - I
Capital Bond
Series - II
Capital Bond
Series - III
8.5% WBSEB
Power Bond
Series 1/2018
Canara Bank Medium Term

Loan
Rate
of
Interest
(%)
Security
Plant & Machinery at Purulia

Pump Storage Project of the value
of Rs. 3647033778/Movable assets (Plant &
Machinery) at Purulia Pumped
Storage Project.
Existing Plant & Machinery,
Distribution Transformer, Power
Transformer, Switchgear, Battery
& Other Equipments and Lines,
Cables & Network of Kolkata &
Midnapore Zone.
Tenure
Morato(Incl.
rium
moratoPeriod
rium
period)
Last
Repay
ment
(Year)
Outstanding
Balance
As on
31.03.13
9.34
15 Years
2024-25
25000
9.34
15 Years
2024-25
25000
10.85
15 Years
2025-26
50000
8.50
2017-18
11147
On paripassu first charge based

on Receivables of Low & Medium
Voltage consumer of Berhampore
and Burdwan Zone.
12.25
3 Years 3 months
2015-16
3 months
10000
Total
122382
NOTE No. : 4 - Deferred Tax Liability (NET)

Particulars
A) Deferred tax liability (net)
B) Deferred tax Assets (net)
Total (A - B)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
0
0
0
0
0
0
NOTE No. : 5 - Other Long Term Liabilities

Sl.
No.
A)
B)
i)
ii)
iii)
iv)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
TRADE PAYABLES
Liability for Purchase of Power
Others
Security Deposit/advance from Consumers
Liability for Capital Supplies / Works
Deposit from consumer for Electrification
Retention Money deducted from Contractor/Suppliers
Sub-Total
Total (A + B)
5.1
180249
142377
173670
138324
151500
31404
494898
675147
144309
124186
93384
31275
393154
535531
Value of assets of
27005 lakhs constructed by CPSU under RGGVY
Scheme was considered in the accounts of 2012-13. In absence of specific
consideration the same was balanced by crediting Liabilities for Capital
Works.
100
5.2
The liability on account of power purchase of 180249 lakhs payable to

WBPDCL in instalments from the financial year 2014-15 & onwards.
NOTE No. : 6 - Long Term Provisions

Sl.
No.
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
A)
i)
ii)
iii)
iv)
v)
PROVISION FOR EMPLOYEE BENEFITS

Superannuation (unfunded)
Gratuity (unfunded)
Leave Encashment (unfunded)
ESOP / ESOS
Leave Travel Assistance (unfunded)
B)
OTHERS
Sub-Total
Total (A + B)
6.1
0
0
20801
0
862
21663
0
21663
0
0
16809
0
936
17745
0
17745
Long Term provision includes provision for Unfunded Terminal Benefit as

segregated in the Actuarial Valuation report.
NOTE No. : 7 - Short Term Borrowings

Sl.
No.
A)
i)
ii)
iii)
iv)
v)
vi)
B)
i)
ii)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
SECURED
Short-Term loan from UCO Bank
Short-Term loan from Central Bank of India
Short-Term loan from Allahabad Bank
Short-Term loan from Syndicate Bank
Short-Term loan from Andhra Bank
Cash Credit Account
(a) Punjab National Bank
(b) Dena Bank
(c) Indian Overseas Bank
(d) ICICI Bank
(e) UCO Bank
(f) Allahabad Bank
(g) UBI Bank
(h) Canara Bank
6435
0
14850
1885
2700
8550
4127
0
0
0
Sub-Total
19805
19955
19984
9612
7122
45293
49517
9819
206977
19928
18616
18611
8485
13065
15679
5186
0
112248
Sub-Total
Total (A + B)
50000
15000
65000
271977
10793
6000
16793
129041
UNSECURED
Loan from Power Finance Corporation
Loan from Rural Electrification Corporation
7.1
Short term loans include those loans which are re-payable within one year.
101
7.2 DETAILS OF OTHER SHORT TERM LOANS AS ON 31.03.2013

( in lakhs)
1
PFCL - STL
RECL - STL
UCO - STL
OH lines on ABC / Other

Conductor including Fittings i.r.o.
RE projects of Raiganj, Burdwan
& Siliguri (For Rs. 250 Crore).
Plant & machinery, lines, Cables
and network i.r.o. Different RE
projects.
12.75
1 Year
6 Months 2013-14
50000
12.75
1 Year
6 Months 2013-14
15000
Lien of FDRs of Rs. 71.50 crore
9.40-10.55
2013-14
6435
Syndicate - STL
10.05
2013-14
1885
Andhra Bank - STL
Lien of FDRs of Rs. 30 crore
9.50
2013-14
2700
Allahabad Bank - STL
10.35-10.85
2013-14
14850
PNB - Cash Credit
L & MV Consumers limited to

Rs. 270 crores
11.00
19805
Book Debts of Decentralised Bulk

consumers and exclusive stock of
Divisional stores to the extent of
Rs. 300 crores only
11.05
19956
Cash
Exclusive charge on Book Debts

less than 6 months of low and
medium volt consumers of the
Company of Midnapore Zone as
per Annexure I of Deed of
Hypothecation.
11.25
9612
10
IOB - Cash Credit
Exclusive charge on Book Debts

less than 6 months of L & MV
consumers of Siliguri Zone of
WBSEDCL to the extent of Rs.
250 crore.
11.00
19984
11
UCO - Cash Credit
10.55
7122
12
Allahabad Bank Cash Credit
9.75-10.50
15453
11.20
29840
11.90
49517
12.25
9819
Dena Bank - Cash

Credit
ICICI
Credit
13
Allahabad Bank Cash Credit
14
UBI
Cash
Credit / LC cum
L.G.
15
Canara Bank Cash Credit
(1) Exclusive Charge on stock &

Receivables of L & MV Consumers
of Kolkata zone of the Company,
Both present and Future.
(2) Charge on current assets of the
company to the extent of limit
sanctioned.
(1) Exclusive Charge on stock &
Receivables of L & MV Consumers
from specific zone (Berhampore
and Burdwan Zone).
(2) Stocks of consumable and
Capital Goods at regional stores.
(3) Charge on current assets of the
company to the extent of limit
sanctioned.
On paripassu first charge based
on Receivables of Low & Medium
Voltage consumer of Berhampore
and Burdwan Zone.
Total
271977
102
NOTE No. : 8 - Trade Payables

Particulars
Liability for Purchase of Power
Liability for Transmission of Power-PGCIL
Liability for Transmission of Power-WBSETCL
UI Charges payable
Total
8.1
8.2
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
267883
153334
2199
7029
18291
4934
734
0
289107
165297
Total trade payable including non-current trade payable as mentioned in

Note-5 of the Company on account of purchase of power as at the end of the
448132 lakhs which includes arrear power purchase liability of
year was
WBPDCL of
272483 lakhs payable to WBPDCL in monthly instalments.
The company has no outstanding dues to any power-purchasing agency
except nominal amount under dispute. This liability has been accrued due
to accounting of purchase of power on consumption month basis though bill
received in subsequent year.
NOTE No. : 9 - Other Current Liabilities

Sl.
No.
A)
i)
ii)
iii)
iv)
v)
vi)
vii)
viii)
ix)
B)
C)
i)
ii)
iii)
iv)
v)
vi)
vii)
viii)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
Current maturities of long Term Debt (Refer Note 3)
SECURED
Loan from Power Finance Corporation Limited A/c RAPDRP
Loan from Rural Electrification Coporation Limited
Term Loan from Bank - Punjab National Bank
Mid-Term Loan from Canara Bank
UNSECURED
Loan from State Govt.
Loan from Power Finance Corporation (against Govt. Guarantee)
Loan from Rural Electrification Corporation (against Govt. Guarantee)
Bonds :
8.5% WBSEB Power Bonds Series 1/2018
Interest Accrued & Due - 8.5% Pension Trust Boands 2016 (Against
Govt. Guarantee)
Sub-Total
Interest accrued but not due on borrowings
Other payables
Earnest Money Deposit from Contractors
Security Deposits from Contractors
Liability for O & M Supplies / Works
Liability for Capital and O & M Supplies --- Small and Medium
Enterprise
P F Money of Trustees Received for Distribution
Electricity Duty Payable to Government A/c
Electricity Duty Control A/c (ED to be paid to Govt. after
recovery from consumer)
Payable to WBSETCL
Sub-Total
Total (A + B + C)
103
1754
1689
1235
2499
0
913
2471
0
11768
1515
2124
10627
1515
2124
2347
2347
13005
13005
37936
17063
33002
15795
1386
4580
4600
1156
3100
7309
1539
581
14169
1162
331
11728
13396
10098
1910
42161
97160
2079
36963
85760
9.1
Electricity Duty payable to Govt becomes due after 60 days from the end of
the month of collection from consumers.
9.2
The company is not liable to pay electricity duty amounting
13396 lakhs
for which demand was raised but collection will be made in subsequent
year and hence the amount kept under a separate head.
NOTE No. : 10 - Short Term Provisions

Sl.
No.
A)
i)
B)
i)
ii)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
PROVISION FOR EMPLOYEE BENEFITS
Staff Related Liabilities & Provisions
OTHERS
Liability for Expenses
Other Liability & Provisions
Sub-Total
Total (A + B)
219576
208206
14644
24137
38781
258357
9890
30970
40860
249066
10.1 Short Term Provisions includes Staff related liability for Terminal Benefit
of
210125 lakhs, Salary of March 2013 of
2948 lakhs, & other
6503
lakhs.
10.2 Staff related liability for un-funded Terminal Benefit of
appears under Long Term Provisions (Note-6).
104
21663 lakhs
105
C)
B)
A)
0
0
4805
6
1357010
Previous Year
192172
1566503
Sub-Total (C)
Grand Total (A+B+C)
15558
147877
28737
0
0
1374331
169841
166066
0
0
166066
23292
23292
71447
77997
71
1842
2272
484
8218
127579
0
303
2005
142774
(3)
1739
5039
43037
175875
11226
206938
835899
166
2407
15747
1296334
(2)
0
0
0
0
0
3
0
0
0
3
(57)
0
0
(1)
(1)
(4)
Deductions
As at
Additions
/ Adjust01.04.20012
ments)
1374331
1540395
0
0
1540395
101290
4806
94739
1739
5110
44879
178147
11710
215156
963475
166
2710
17752
1439105
(5) = (2+3-4)
As at
31.03.2013
Gross Block ( in lakhs)
Intangible Assets
Sub-Total (B)
Capital Work in Progress
Generation
Distribution
Others
Sub-Total (A)
Sub-Total
(1)
Tangible Assets :
Land & Land Rights
Buildings
Hydraulic Works
Other Civil Works
Plant & Machinery
Lines, Cable Network
Vehicles
Furniture and Fixtures
Office Equipments
Sub-Total
Capital Expenditure
Resulting in an Asset not
Belonging to the Company
Spare Units / Service Units
Capital Spares at
Generating Stations
Assets taken over from
Licensees
Particulars
NOTE No. : 11 - Fixed Assets

Net Block ( in lakhs)
372811
411757
0
0
411757
31420
531
29150
1739
0
13123
20979
3625
52526
280720
149
978
8237
380337
(6)
38904
48954
0
0
48954
5266
124
5142
0
898
3719
221
7632
30482
0
133
603
43688
(7)
(42)
312
0
0
312
0
(4)
0
0
273
23
0
20
0
312
(8)
411757
460399
0
0
460399
36686
655
34292
1739
0
14025
24698
3846
59885
311179
149
1091
8840
423713
1154746
1298666
218670
17569
164267
36834
0
0
1079996
64604
4151
60447
5110
30854
153449
7864
155271
652296
17
1619
8912
1015392
984219
1154746
192172
15558
147877
28737
0
0
962574
46577
4274
42297
5039
29914
154896
7601
154412
555179
17
1429
7510
915997
(9) = (6+7-8) (10) = (5 - 9) (11) = (2 - 6)
Deductions
At the
As at
As at
At the end
Additions / Adjustbeginning
01.04.2012
31.03.2013 of the year
ments)
of the year
Depreciation ( in lakhs)
11.1 The amount of depreciation(after adjustment) charged during the year

amounts to
48642 lakhs (including prior period amount of 1259 lakhs).
An amount of
7761 lakhs being the amortized value of Reserve Account
(Capital Grant and Subsidies) was reduced from the total depreciation of
the year calculated for the depreciation amount of Fixed Assets constructed
out of such Reserve.
11.2 SECTOR WISE CAPITAL WORK IN PROGESS
Particulars
As on
01.04.2012
Net
Additions
(1)
(2)
(3)
( in lakhs)
CapitalizedNet
As on
Deductions / (Transfer to
31.03.2013
Adjustment Fixed Assets)
(4)
(5)
(6) = (2+3-4-5)
Capital Works-in-Progress
GENERATION
15558
4113
2102
17569
DISTRIBUTION
147877
108155
91765
164267
OTHERS
28737
33224
25127
36834
Grand Total
192172
145492
118994
218670
Previous Year
152577
163137
123542
192172
11.3 This year an amount of
19 lakhs (previous year
15 lakhs) booked under
fixed assets account of small and low value items was depreciated for full
value and charged to Profit and Loss Account of 2012-13.
11.4 Depreciation rate was considered as allowed by WBERC in its tariff
regulation. Ministry of Power, Govt. of India (GOI) and Ministry of Corporate
Affairs (MCA), GOI were approached through Govt. of West Bengal for
concurrence. The approval of MCA was issued on 31.05.2011.
11.5 Distribution, Metering and other Generation assets capitalized during the
year was
123542 lakhs). Fixed Asset of
26364 lakhs) constructed by the Central
Public Sector Undertakings (CPSU) under Rajiv Gandhi Gramin Vidyutyan

Yoyona (RGGVY) scheme was incorporated in the accounts. Pending order
from Govt. of West Bengal regarding consideration of taking over the value
of assets constructed by CPSUs the same was balanced by crediting capital
liability account.
11.6 During the financial year 2012-13 total value of assets of
(previous year
5931 lakhs
2531 lakhs) as constructed and put into operations by
New Town Electric Supply Company Limited (NTESC) was received from
NTESC and considered by capitalization.
106
11.7 Total pending order from Govt. of West Bengal regarding consideration of
taking over value of assets stands to
130493 lakhs (Previous year
103488 lakhs) which is lying in Capital liability account.

11.8 Cost of land includes leasehold as well as freehold land. However, separate
classification of cost of land could not be worked out. The leasehold land
owned by the company was 137.12 acres (previous year 135.37 acres) as per
available records. No depreciation was charged on such land since the land
was acquired on perpetual basis without any specific life span.
11.9 All capital costs including purchase of fixed assets are initially booked under
CWIP Account. The amount of CWIP balances as on 31.03.2013
lakhs (previous year
218670
192172 lakhs) includes the interest and other
overheads capitalized during 2012-13.

11.10 Rajiv Gandhi Gramin Vidyutyan Yoyona (RGGVY)- The scheme launched
by Govt. of India for 100% electrification in rural area was also mostly
implemented in West Bengal for which the brief particulars under 10th
plan scheme and 11th plan scheme are stated below.
Particulars
Amount in
lakhs
(10th Plan)
Amount in
lakhs
(11th Plan)
Fund received during Plan Period

Interest accrued on idle fund
Total Fund (1+2)
Capital Expenditure including advance
4319
0
4319
5515
99163
116
99279
92363
Sl.
No.
1
2
3
4
11.11 Backward Region Grant Fund (BRGF)- New scheme launched by Govt. of
India for electrification in West Bengal for which the brief particulars are
stated below.
Sl.
No.
1
2
3
4
Particulars
Fund received during Plan Period
Interest accrued on idle fund
Total Fund (1+2)
Capital Expenditure including advance
107
Amount in
lakhs
83703
243
83946
44953
NOTE No. : 12 - Non Current Investment

As on
01.04.2012
Particulars
A)
Trade Investment (in joint

Venture Companies)
New Town Electric Supply Co. Ltd.
(Unquoted)
(49323 Equity Shares of 1000 Each
fully paid up)
i)
ii)
West Bengal Green Energy Development Corporation Ltd (Unquoted)

(1750002 Equity shares of 10 Each
fully paid up out of which 2 No of
Share of 10 each fully paid-up
received free of cost)
Sub-Total
Sale of
investment/ Adjustment
Redemtion of
Debentures
(Amount in lakhs)
Additions
As on
31.03.2013
255
239
494
175
175
430
239
669
400
B)
Other Investment
i)
Investment in Shares of Power

Exchange India Ltd
(4000000 Equity Shares of 10 Each
fully paid up)
250
150
ii)
Other Investment
121
121
371
150
521
Total (A + B)
801
389
1190
Previous Year
1817
1016
801
Sub-Total
12.1 The Govt. of West Bengal revested Other Investments amounting to
121
lakhs as appearing in note-12 as on 31.03.2013 through Final Transfer

scheme as investment in Govt. Securities. However, since no confirmation
from Govt. of West Bengal was received on such balance and no paper in
support of investment was available, entire amount was provided under
Profit & Loss Account of WBSEDCL during the year 2008-2009.
12.2 During the financial year 2012-13 a fresh investment of
239 lakhs and
150 lakhs have been made in the Equity shares of New Town Electric
Supply Co. Ltd & Power Exchange India Ltd respectively.
12.3 The investments are carried at cost.
12.4
Sl.
No.
Particulars
Aggregate amount of Unquoted investments
Aggregate amount of quoted investments & market value there of
108
Amount in
lakhs
1190
0
NOTE No. : 13 - Long Term Loans and Advances

Sl.
No.
A)
B)
C)
D)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
Capital Advances
Secured, considered good
Unsecured, considered good
Doubtful
Less : Provision for doubtful advances
Sub Total
48476
0
0
0
48476
24977
0
0
0
24977
Sub Total
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
222
0
0
0
222
175
175
4936
4924
53587
30298
Security Deposits
Doubtful
Less : Provision for doubtful deposits
Loans and advances to related parties
Doubtful
Less : Provision for doubtful deposits
Sub Total
Others
Commitment Advance
Advance Income Tax & TDS ( 11695 net of Provision for taxation
of 6759 lakhs : Previous year 11348 lakhs net of provision for
taxation of 6424 lakhs)
Total (A + B + C + D)
13.1 Long term loans and advances of 48476 lakhs as on 31.03.2013 considered
good and fully realizable from the Contractors/Suppliers. As a result, no
provision on doubtful advances has been considered in the accounts. This
has been done as per the policy approved by the Board of Directors.
13.2 Long term loans and advances include a sum of
120 lakhs paid to
Ghogarpalli Integrated Power Company Ltd and
55 lakhs to Tatiya
Andhta Power Projects as commitment advance against allocation of power
to WBSEDCL.
NOTE No. : 14 - Other non-current assets
Sl.
No.
A)
B)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
Long Term Trade Receivables
Accrued Arrear for sale of Power (Arrear for 2011-2012 & 2012-2013
as per Tariff order)
Others
Regulatory Assets
Total (A + B)
109
146418
388278
208714
534696
208714
14.1 As per terms and conditions of the Tariff orders for the financial year 201112 and 2012-13 issued by WBERC on 01.12.2012 arrear recoverable from
consumers from the financial year 2014-15 and onwards comes to
146418
lakhs.
14.2 The amount of
388278 lakhs is realizable from regulatory mechanism

from the financial year 2014-15 & onwards.
NOTE No. : 15 - Current Investment

Sl.
No.
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
0
0
Particulars
Total
NOTE No. : 16 - Inventories

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
Stores & Spares
Stock of Materials
Materials in Transit
Materials Stock Excess / Shortage Pending Investigation
Total
56244
415
346
50461
275
84
57005
50820
16.1 In all stores, the physical verification of Stock was conducted during the
period.
16.2 Verification of the entire inventory holding stores was conducted in presence
of independent verifier, engaged from Chartered Accountant & Cost
Accountant Firms.
16.3 Total Provision as on 31.03.2013 for non-moving, slow moving, obsolete and
scraps inventories of
695 lakhs has been considered in the accounts based
on the Policy for provisioning as approved by the Board of Directors.
16.4 Valuation of closing stock of Stores was at cost being lower than the Net
Realizable Value.
110
2012-2013
111
220059
8269
0
228328
171412
36025
1
435766
11231
1918
247
13396
0
0
0
13396
ED
114089
11764
8546
134399
in lakhs)
231290
10187
247
241724
171412
36025
1
449162
Total
0
5882
8546
14428
114089
5882
0
119971
115920
63487
6
299384
Dues
Dues Allowance (After
for Bad
other
Allowance
and
Than ED
for Bad &
Doubtful
Doubtful
Debt
Debt
2011-2012
8927
919
252
10098
0
0
0
10098
ED
123016
6801
252
130069
115920
63487
6
309482
Total
17.4 The Debtors balance more than 3 years is

8876 lakhs. The same has been considered at the time of making
provision for bad and doubtful debt as per policy approved by the Board of Directors. Total Provision of 15954
lakhs as on 31.03.2013 for bad and doubtful debt has been considered in the accounts based on the Policy for
provisioning as approved by the Board of Directors.
17.5 Due to tariff order of WBERC for the year 2011-12 & 2012-13 published on 01st December 2012 an arrear revenue
was accrued for the period from April 2011 to Dec 2012. Unbilled portion (to be billed during 2013-14) of such
revenue of
36025 lakhs ( .146418 lakhs to be billed from the financial year 2014-15 and onwards (as per note
14)) has been considered in the accounts.
17.3 The debtors balance consists of provision for unbilled revenue of

171412 lakhs being the amount related to
consumption not billed within March, 2013 but demand raised in subsequent year.
17.1 Aggregate amount of Trade Receivables outstanding for a period exceeding six months from the date they are due
for payment is
21167 lakhs.
17.2 The outstanding debtors balance on account of sale of power including Electricity Duty at the end of the year
stands at
257678 lakhs excluding Provision for Unbilled Revenue & allowance for Bad & doubtful debt.
0
8270
7684
15954
Dues
Allowance
Dues
(After
for Bad
other
Allowance
and
Than ED
for Bad &
Doubtful
Doubtful
Debt
Debt
Sundry Debtors for Sale of Power

Secured, Considered Good
220059
Unsecured, considered Good
16539
Doubtful (Net of Security Deposit Forfeited)
7684
Sub-Total
244282
B) Provision fo Unbilled Revenue (ED excluded)
C) Accrued Arrear
D) Receivable for Transformer Hire Charges
Note : ED denotes Electricity Duty
A)
Particulars
NOTE No. : 17 - Trade receivables (including Unbilled Revenue)
NOTE No. : 18 - Cash and Bank Balance

Sl.
No.
A)
i)
ii)
iii)
iv)
v)
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
Cash & Cash Equivaents
Balances with Banks
With Current Account
Bank Deposits with original maturity upto 3 months
Remittance-in-Transit
Cheque, Draft in hand
Cash in hand
Cash imprest with Staff
Sub Total
B)
i)
ii)
iii)
Other Bank Balance

Fixed Deposits with Banks
Fixed Deposit with Bank for Investment against
Reserve for Unforeseen Exigencies
Fixed Deposit with Bank for Investment against
Debenture Redemption Reserve
Sub Total
Total (A + B)
30303
31000
346
3083
1929
157
66818
55517
9260
507
7988
167
144
73583
49062
44615
12441
11672
2617
834
64120
130938
57121
130704
18.1 Total credit in Bank held under default Escrow mechanism is
16517 lakhs.
18.2 Fixed deposits are mainly related to unutilized fund of Rajiv Gandhi Gramin
Vidyut Yajona (RGGVY), Backward Region Grant Fund (BRGF), Revised
Accelerated Power Development Reforms Program (R-APDRP) etc. received
for utilization for project work.
18.3 Bank balance includes cheque/drafts of
51 lakhs received as examination

fees collected for the purpose of recruitment but remains un-credited for
more than three months. The matter has been taken up with the bank
authorities for re-validation of the date.
18.4 Out of total Fixed Deposit with Bank of

53875 lakhs), following Short term loan & Letter of credit facility availed
under lien:Sl.
No.
1
2
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
54251
46384
4520
4740
Particulars
Fixed Deposit with Bank under lien for short Term loan
Fixed Deposit with Bank under lien for default Letter of Credit
Total
112
58771
51124
NOTE No. : 19 - Short-term loans and advances

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
-
Particulars
A)
B)
Advances to related parties

Other Advances
Unsecured, Considered good
Short-term loans and advances
Miscellaneous Loans and Advances
Loans and Advances to Staff-Interest free
Loans and Advances to Staff-Interest bearing
Total (A + B)
6113
813
753
7
9935
4710
593
9
7686
15247
19.1 The short term loans and Advances balance of 7686 lakhs as on 31.03.2013
considered good and fully realizable from the Contractors/Suppliers,
Employees etc. As a result, no provision on doubtful advances has been
considered in the accounts. This has been done as per the policy approved
by the Board of Directors.
NOTE No. : 20 - Other Current Assets
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
A)
B)
C)
Receivable towards claims & services Rendered

--- Considered good
Sundry Receivables
Incentives, UI Charges & Revenue Subsidy/Grant Receivables
Amount receivables from Employees / Ex-employees
Claims & Commission Receivables
Income Accrued on Fixed Deposit but not due
Others
Deposits with Various Statutory Authority
Regulatory Assets
Receivable from WBSETCL
Receivable on account of Swaping of Power
Total (A + B + C)
6066
315
0
0
1571
4582
9755
1
1228
2543
802
224987
2
27298
807
330955
199
27671
261041
377741
20.1 Other current assets include prepaid expenses of 1737 lakhs, Unscheduled
interchange (UI) receivable
223 lakhs includes
61 lakhs as interest
for delayed received of UI charges. Realization of the interest depends upon
direction of appropriate authority.
20.2 Total amount of regulatory assets as at the end of the financial year 201213 comes to
613265 as mentioned in Note no-14 & 20. During the year an
amount of
135454 lakhs has been adjusted being the previous regulatory
assets passed through tariff for the year 11-12,12-13 & FPPCA and APR
order for the year 2009-10, 10-11.New addition of regulatory assets of
209050 lakhs has been made during the financial year 2012-13.
113
NOTE No. : 21 - Revenue From Operation

2012-2013
Particulars
(
A)
Earning from sale of electricity

Sale to Trader
Sale to Bulk Supply Licensee
Sale to Govt. of Sikkim
Sub-Total (i)
Other Consumers :
L&MV Consumers (ED EXCLUDED)
Domestic
Commercial
Irrigation
Short term Supply
Public Utility/Specified Institutions/Public Bodies
Cottage Industry, Artisan, Weavers not run by electricity as motive power
Poultry, Horticulture, Food processing, etc.
Public Water works
Industries
Street Lighting
Private Educational Institution and Hospitals
Bulk Supply at Single Point
Commercial (B-ID)
Industrial (B-ID)
L & MV Consumers not covered above
Sub-Total (ii)
HV and EHV Consumers (ED EXCLUDED)
Public Utility
Industries
Community Irrigation
Commercial Plantation
Short Term Supply
Commercial
Domestic
Public Water Works and Sewerage
Sport Complex
Cold Storage
Emergency Supply
Construction Power
Bulk Supply at Single Point
Traction Load for transport system
Sub-Total (iii)
Recovery for Theft of Power/Malpractices
Adjustment for Past Billing (for 2010-11)
Arrear for 2011-2012 as per Tariff order
Sub-Total (iv)
Swap Out of Power
Swap out of Power during 2012-13 which will be return back in future year
Swap out of Power during 2012-13 out of Swap in of Power during 2012-13
Swap of Power during 2011-12 which will be return back in future year
Swap of Power during 2011-12 out of Swap of Power during 2011-12
Swap of Power during 2011-12 out of Swap of Power during 2010-11
Sub-Total (v)
Other Consumers Total
(vi) = (ii+iii+iv+v)
Gross Revenue from Sale of Power (i+vi)
Less: PF Rebate less penalty
Less: LF Rebate less penalty
Less: Rebate for Supply at High Voltage
Less: Other Specified Rebate
Add: Minimum Charge
Add: Exces drawal charges
Less: Power Interruption Charges (Rebate on Fixed Charges due to non
availability of Power)
Less: Rebate on timely payment
Less: Charges for Export of Power
Sub-Total
114
2011-2012
in lakhs)
51025
112091
571
163687
19631
61813
691
82135
347916
133956
41380
805
2852
198
2530
17505
62170
7838
88
4
8107
23341
1029
649719
293709
112173
34052
14
1114
113
109
6756
56724
7069
22
2
1864
5919
41
519681
7621
463399
4
409
6
68928
1872
10348
234
21691
185
2570
229
69163
646659
114
0
180418
180532
5343
352010
1
219
3
52820
821
8031
215
17623
71
1726
163
58764
497810
216
46909
0
47125
28064
10338
0
0
0
38402
1515312
1678999
12885
14017
3999
5
3475
493
0
0
27671
9234
1766
38671
1103287
1185422
7405
10793
4941
7
2828
1177
10
23802
3962
1624297
17630
1546
1147095
(B) Other Operating Revenue

Particulars
Delayed Payment Charges from Customers
Unscheduled interchange (UI) Receivable
Meter Rent and Other Charges
Rebate for timely payment of Power Purchase/Transmission Charges Bill
Reconnection/Disconnection fees
Other misc. charges from service to consumers premises
Sub-total
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
7528
3983
7574
26260
17378
12953
9241
8514
2052
1375
44
386
43817
53471
(C) Amount Realisable Through Regulatory Mechanism

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
209050
276022
135454
68358
Particulars
Amount Realizable through Tariff & APR
Less : Crystallision of Regulatory Assets
Sub-total
73596
207664
Total (A + B + C)
1741710
1408230
21.1 The Revenue income from Sale of Power is accounted for on consumption
month basis for the period from April 12 to March 13. The amount related
to consumption not billed within 31st March 13 was taken into Revenue
from Sale of Power Account as provision for Unbilled Revenue.
21.2 The rate of Tariff applied to raise the demands was the rate as fixed by
West Bengal Electricity Regularity Commission (WBERC) along with
Monthly Variable Cost Adjustment (MVCA) where ever applicable as per
rules of WBERC.
21.3 During the financial year balance of SWAP out of Power to different utilities
outside the State was considered as income on the basis of average purchase
cost of Power excluding Transmission Charges.
21.4 The amount of Electricity Duty claimed for recovery on behalf of Govt. of
West Bengal during the year 2012-13 was excluded from Revenue from Sale
of Power.
21.5 This year no revenue subsidy/grant was received by the company. However
as per Tariff order of WBERC subsidy was allowed to the consumer by the
Govt. of West Bengal through energy bills of WBSEDCL which had been
compensated by the State Govt.
21.6 Rebate for timely payment of Power purchase/Transmission charges includes
7004 lakhs on Purchase of Power, 675 lakhs for Central Transmission
charges &
1562 lakhs for State Transmission charges.
115
21.7 Meter Rent & other charges include Transformer & other operators hiring
Charges on which Service Tax of
19 lakhs was collected.
21.8 Income receivable on account of Unscheduled Interchange (UI) has been
considered in the accounts based on weekly settlement period of State Load
Despatch Center (SLDC).
21.10 A sum of
238057 lakhs has been considered as per Regulation in the
accounts of 2012-13 as Income Receivable through Regulatory Mechanism
on account of Fuel & Power Purchase Cost Adjustment (FPPCA) and Annual
Performance Review (APR) for the financial year 2012-13 for which necessary
petition will be submitted to the WBERC in due course.
21.11 A sum of
135454 lakhs of Regulatory Assets created in the year prior to

2012-13 has been released by the WBERC in the Tariff Order for the financial
year 2011-12, 2012-13 and Fuel & Power Purchase Cost Adjustment (FPPCA)
and Annual Performance Review (APR) for the financial year 2009-10, 201011. As the said amount has already been considered as income realizable
from regulatory mechanism in the accounts prior to the financial year 201213, it has been deducted from Income Receivable through Regulatory
Mechanism and considered in the accounts of 2012-13.
21.12 Petition for Fuel & Power Purchase Cost Adjustment (FPPCA) and Annual
Performance Review (APR) for the financial year 2011-12 has already been
filed before the WBERC for consideration. As some portions of the petitions
have already been considered in the accounts of 2011-12, after adjustment
of the amount already considered with the amount claimed in the petition
excepting the amount of carrying cost on conservative basis, a net regulatory
liability of
29007 lakhs has been considered in the accounts of 2012-13.
The Receivable through Regulatory Mechanism considered in the financial
year 2012-13 has been accounted for in the aforesaid result though the
relevant orders for FPPCA and APR for the financial year 2011-12 and 201213 have not been received from the Regulatory Authority. It is presumed
that favorable orders for the full amount will be available. In the event of
any variation in the orders of WBERC, adjustment of net profits and
regulatory assets may be necessitated to the extent of such variation.
116
NOTE No. : 22 - Other Income

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
Particulars
A)
B)
C)
Interest Income
Interest on Staff Loan & Advances
Interest on Loans & Advances to Licensees
Interest from Bank on Fixed Deposits
Dividend Income
Other non-operating Income
Income from Sale of Scrap
Consulting Income
ED Commission
Interset from Income Tax Authority
Fine/Penalty imposed on a/c of theft of Power
Tender Paper
Rental from Staff Quarters
Rental from Contractors
Rental from Others
Penalty deducted from Contractor/Supplier
Other misc. income
Incentive for timely payment of Loan
Excess Provision for foreign Exchange Fluctuation Written Back
Total (A+B+C)
187
49
3851
25
116
55
3979
25
1177
25
777
57
110
220
214
17
43
1110
366
47
0
8275
1075
5
556
0
18
104
223
16
52
653
2122
54
2
9055
22.1 During the year 2012-13, an amount of

25 lakhs received from New Town
Electric Supply Co. Ltd (NTESC) as dividend against investment in equity
shares of
255 lakhs.
22.2 Interest Income from Bank Fixed Deposit of
3851 lakhs includes
1189
lakhs for Interest Income on Investment of Reserve for Unforeseen
Exigencies, 166 lakhs for Interest Income on investment of Debenture
Redemption reserve,
984 lakhs for Interest on investment of unutilized
fund of RAPDRP.
22.3 State Vat collected of
47lakhs on Income from sale of scrap.
117
NOTE No. : 23 - Purchase of Power & Transmission Charges

2012-2013
Particulars
(
A)
i)
ii)
iii)
iv)
v)
vi)
Purchase of Power From Different Sources

Central Sectors
Damodar Valley Corporation
DVC (Arrear dues)
Govt. of Sikkim
National Thermal Power Corporation Limited
NTPC Limited (Arrear dues)
National Hydro Power Corporation Limited
NHPC Limited (Arrear dues)
Power Trading Corporation Limited
Sub-Total
68104
521
4
141299
3400
17101
4341
33053
267823
21987
3109
4
119594
5499
16608
13470
34203
214474
Sub-Total
6167
865
712604
145704
865340
4896
0
555096
176690
736682
Sub-Total
11160
57394
13222
39999
0
121775
10859
23234
12344
7204
56
53697
Sub-Total
10165
2
2212
1598
241
389
3115
0
1716
0
169
820
14
95
85
3535
77
24233
10355
0
2324
1566
200
393
2831
128
631
144
0
312
0
923
35
30
0
19872
Sub-Total
39
39
14
14
10338
27671
766
0
0
38775
9037
1327022
0
0
0
9234
22035
31269
12277
1068285
28885
1365
83749
5316
9
119726
15
2767
1449530
17997
2600
67284
0
186
88469
15
0
1156768
State Sectors
Durgapur Projects Limited
Durgapur Projects Limited (Arrear dues)
West Bengal Power Development Corporation
WBPDCL (Arrear dues)
Short Term
NVVN LTD
Power Exchange
Tata Power Trading Company Ltd
RPG Power Trading Company Ltd
Private Sectors
Dishergarh Power Supply Company Limited
Dishergarh Power Supply Company Limited (Arrear dues)
C.E.S.C
ELECTO STEEL
NEORA HYDRO LIMITED
Nippon Power Limited
Tata Power Company Ltd
Kamarhatty Power Ltd
Shree Renuka Sugars Ltd
Amrit Bio Energy & Industries Ltd
Amrit Bio Energy & Industries Ltd (Arrear Dues)
Himadri Chemicals & Industries Ltd
Himadri Chemicals & Industries Ltd (Arrear Dues)
Rashmi Cement Ltd
Ennore Coke Ltd
Bengal Energy Limited
Mittal Processors Pvt Ltd
Non Conventional Source of Energy
WEBRADA
Swap - in Power
Swap -in of Power during
Swap- in of Power during
Swap -in of Power during
2012-13 out
2012-13 out
2012-13
2011-12 out
2011-12 out
of Swapping of Power during 2012-13

Sub-Total
UI Charges payable
(B)
(C)
(D)
Sum-Total (A)
Transmission Charges From Different Sources
Power Grid Corporation India Limited
PGCIL (Arrear dues)
West Bengal State Electricity Transmission Company Limited
West Bengal State Electricity Transmission Company Limited (Arrear dues)
Power System operation corporation Ltd 402 402 PSOC Ltd (Arrear dues)
Sum-Total (B)
ERPC Charges
SLDC Charges
TOTAL (A+B+C+D)
118
2011-2012
in lakhs)
23.1 Power Purchase expenditure accounting was made on consumption month

basis.
23.2 Such cost was 83% of total cost. The average purchase of power cost is 377
paise per kwh (including transmission charges) for the current financial
year.
23.3 The power purchase cost includes transmission charges of
119726 lakhs,
paid/payable to WBSETCL 89065 lakhs and Power Grid Corporation India
Ltd
30250 lakhs and others
411 lakhs respectively.
23.4 SWAP-IN in from different utilities outside the State was considered in the
accounts and the same was included in the Power Purchase Cost on the
basis of average cost of Power purchase excluding transmission charges for
the current financial year.
23.5 Break up of power purchase Agency where purchase made from different
power plant/sources under the agencies:2012-2013
Particulars
(
National Thermal Power Corporation Limited
Farakka
Kahelgaon
Talcher
in lakhs)
Sub-Total
126637
52
18010
144699
109225
1524
14344
125093
Sub-Total
20425
44755
65180
22561
2535
25096
Sub-Total
70985
105244
264900
297123
120056
858308
45291
97136
171053
235979
182326
731785
Sub-Total
7857
1243
23953
33053
8677
1425
24100
34202
Sub-Total
16203
5239
21442
24558
5519
30077
Damodar Valley Corporation

Radial
Grid
West Bengal Power Development Corporation
BTPS
STPS
KTPS
BKTPS
SGTPS
Chukha
Kurichu
Tala
National Hydro Power Corporation Limited
Teesta-V
Rangit
119
2011-2012
NOTE No. : 24 - Employees Benefit Expenses

2012-2013
Particulars
Salaries
Overtime
Dearness Allowance
Other Allowance
Bonus
Other Staff Cost
Staff Welfare Expenses
Employee Terminal Benefits
Service Tax on Staff welfare Expenses
Sub-Total
Less: Employees Cost Capitalised
Total
2011-2012
( in lakhs)
31729
33860
1259
1264
23445
19454
9128
8911
1373
1223
3099
3149
1637
879
42860
40890
12
0
114542
109630
18417
18807
96125
90823
24.1 During the financial year Contribution to Provident Fund for

(Previous Year
1011 lakhs).
1352 lakhs
24.2 Terminal Benefits (Disclosure Required under Revised AS-15)

The employees Pension Fund Scheme (employees opted for death cum
retirement benefit), Gratuity fund (all employees) managed by Pension
Trustee and Gratuity Trustee are Defined Benefit Plan. Obligations for leave
encashment on retirement and leave travel assistance are unfunded and
the payment of such benefit is made by the Company. All obligations i.e.
Pension, Gratuity, Leave Encashment and Leave Travel Assistance are
recognized on the basis of actuary valuation.
24.3 As per Actural valuation report under Accounting Standard 15 (R 2005), of
the CPF Trust Fund, no liability is due by the company to the CPF Trust
Fund as on 31.03.2013.
Actuarial valuation of Pension, Gratuity and Leave Encashment Benefit as
on 31.03.2013.
Table 7:
Actuarial assumptions
Mortality Table
Superannuation Age
Early retirement & disablement
Discount rate
Inflation rate
Return on Asset
120
: LICI 1994-96
: 60
: 10 per thousand p.a.
6 above age 45
3 between 29 and 45
1 below age 29
: 8.0
: 6.0
: 8.0
Remaining working life
: 9.0 (in case of Pension)

11.0 (in case of Gratuity & Leave
Encashment)
Formula used
: Projected unit credit method
The above assumptions are applicable for Pension, Gratuity, Leave Travel
Assistance and Leave Encashment.
Table 1
Table showing changes in present value of obligations as at 31.03.2013
Particulars
Pension
(funded)
( in lakhs)
Gratuity
(funded)
( in lakhs)
Leave
Encashment
(unfunded)
( in lakhs)
541712
0
41863
0
56629
0
0
36844
(39650)
563711
61819
0
4452
0
2480
0
0
1235
4128
60529
17806
0
951
0
1529
0
0
11832
18711
27165
Present value of obligation at beginning of year

Acquisition Adjustment
Interest Cost
Past Service Cost
Current Service Cost
Curtailment Cost
Settlement Cost
Benefits Paid
Actuarial gain/(loss) on obligations
Present Value of Obligation at the end of Year
Table 2
Table showing changes in fair value of Plan Assets as at 31.03.2013
Particulars
Pension
(funded)
( in lakhs)
Gratuity
(funded)
( in lakhs)
391297
0
31304
7239
36844
7846
400842
22458
0
1797
9905
12649
304
22115
Pension
(funded)
( in lakhs)
Gratuity
(funded)
( in lakhs)
563711
400842
(162869)
0
(162869)
60529
22115
(38414)
0
(38414)
Fair Value of Plan Asset at Beginning of year

Acquisition Adjustment
Expected Return on Plan Asset
Contributions
Benefits Paid
Actuarial gain/(loss) on Plan Asset
Fair Value of Plan Asset at End of year
Leave
Encashment
(unfunded)
( in lakhs)
Not
applicable as
Scheme is
unfunded
0
Table 3
Table showing Funded Status as at 31.03.2013
Particulars
Present Value of Obligation at end of year

Fair Value of Plan Asset at End Year
Funded Status
Unrecognised actuarial gain/loss at end of the year
Net Asset (Liability) recognised in Balance Sheet
121
Leave
Encashment
(unfunded)
( in lakhs)
Not
applicable as
Scheme is
unfunded
Table 4
Table showing Expenses Recognised in Statment of Profit/Loss as at 31.03.2013
Particulars
Current Service Cost

Past Service Cost
Interest Cost
Expected Return on Plan Asset
Curtailment Cost
Settlement Cost
Actuarial gain/(loss) Recognised in the year
Expenses Recognised in Statement of Profit/Loss
Pension
(funded)
( in lakhs)
Gratuity
(funded)
( in lakhs)
Leave
Encashment
(unfunded)
( in lakhs)
56629
0
41863
31304
0
0
(47496)
19693
2480
0
4452
1797
0
0
3824
8958
1529
0
951
0
0
0
18711
21192
24.4 Liability on account of Leave Travel Assistance (unfunded) as at 31.03.2013 has been
shown by the actuary as
1872 lakhs (excludes payment made during 2012-13).
24.5 As per final transfer scheme all obligations in respect of pension and other
retirement benefits including provident fund who have retired from service of
the company before the effective date of transfer shall be discharged by Trustees.
24.6 Employee cost was capitalized as per the policy approved by the Board of Directors.
NOTE No. : 25 - Finance Cost
2012-2013
2011-2012
( in lakhs)
Particulars
A)
(I)
Interest Expenses
Interest on Capital Loans
Interest on State Government Loan
Interest on other Loans :
Interest on Loan from Commercial Bank
Interest on Loan from REC Ltd.
Interest on Loan from PFC Ltd.
Interest on Capital Bond
Interest on Public Bond
Less : Interest Capitalised
18074
18673
279
10753
2360
10086
1072
3407
39217
565
5489
1961
8354
1272
888
35426
1444
2068
1582
1088
1708
538
Sub- Total (A)
16972
22066
13005
6271
80559
7252
10586
13005
9147
68164
Sub- Total (B)

Total (A+B)
138
574
0
712
81271
174
361
25
560
68724
Sub- total
(II) Interest on Working Capital Loans
Interest on Short Term Loan
Interest on Loan from Commercial Bank
Interest on Loan from PFC Ltd.
Interest on Loan from REC Ltd.
Interest on Bank Over Draft
Interest on Over Draft from Commercial Bank
Sub- total
(III) Interest on Pension Trust Bond
(IV) Interest on Consumer Security Deposits
B)
Other Finance Costs

Government Guarantee Fees
Bank Charges
Stamp Duty for Issue of Capital Bond
122
25.1 Interest on loan was capitalized as per the policy approved by the Board of
Directors.
25.2 In absence of any stipulated rate no provision has been made in respect of
interest on REC loan considered in the accounts due to amalgamation of
WBREDCL.
25.3 Total interest capitalized during the year was
Assets.
3407 lakhs on qualifying
NOTE No. : 26 - Depreciation

As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
39603
34123
19
15
Particulars
Depreciation
Small & Low Value items written off
Total
39622
34138
26.1 Total Depreciation of
39622 and prior period depreciation of

1259
lakhs (as per note 27) arrived after adjustment of amortization of Reserve of
7761 lakhs (as per note 2). Thus total Depreciation accounted in the
current financial year of
48642 lakhs (as per note 11).
NOTE No. : 27 - Other Expenses

2012-2013
2011-2012
( in lakhs)
Particulars
A)
B)
Generation of Power :
Lubricant and Consumable Stores
Diesel Oil
Station Supplies
Sub- total (A)
Outsourced Jobs :
Data Warehousing
Meter Reading
Sub-Station Maintenance
Generating Station Maintenance
Franchisee
Bill Distribution
Line Maintenance
Collection Franchisee
Security Expenses
Call Center Expenses in line with ZRC & CRC as per SOP regulation
Back office Job
Communication Systems ( Lease Rental)
Mobile Maintenance Service
Complain Management Mechanism
Service Tax on Outsourced Activity
Sub- total (B)
123
6
0
0
6
6
67
1
74
80
3658
2777
787
457
1077
7674
1086
3990
1552
408
1666
2018
380
962
28572
9
3341
1223
531
253
1182
5229
275
2288
1342
141
692
1838
0
553
18897

2012-2013
2011-2012
( in lakhs)
Particulars
C)
Repair & Maintenance Expenses :

Plant & Machinery
Buildings
Civil Works
Hydraulic Works
Lines, Cables, Net Work etc.
Vehicles 4 4 Furniture & Fixtures
Office Equipments
Service Tax on Repair & Maintenance Expenses
Less: Capitalized
Sub- total (C)
D)
E)
Administrative & General Expenses :

Rent, Rates, Taxes
Insurance
Telephone, Postage,Telegram & Telex Charges
Legal Charges
Audit Fees
Consultancy Charges
Technical Fees
Training Expenses
Conveyance & Travel
Fees & Subscriptions
Books & Periodicals
Printing & Stationary
Advertisements
Water Charges
Part Time Employee Charges
Entertainments
Hospitality - Food and Beverage
Miscellaneous Expenses
License Fees
Incidental expenses related to stores
Director Sitting Fees
Power Exchange Charges
Expenditure for Sale of Scrap
Expenditure on social Responsibility
Service Tax on Administrative & General Expenses
Less: Administration and General Expenses Capitalised
Sub- total (D)
Other Debits :
Bad Debts Written off-Dues from Customers
Compensation to Power Traders
Compensation Injuries on Death/Damages- Staff
Compensation Injuries on Death/Damages- Outsiders
Compensation to Consumers- Order of Commission
Loss on Obsolete Stores etc. in Stores
Provision for slow,Non-moving Store items
Provision for Bad & Doubt-ful Debt
Other Provision
Sub- total (E)
124
6002
593
454
448
15864
85
361
102
23913
9
23904
5145
488
479
411
14375
81
204
0
21187
2
21185
947
370
656
300
165
668
1329
594
3400
119
5
1312
591
17
629
2
56
74
130
714
5
204
0
11
1314
13612
299
13313
863
88
738
251
178
1412
1463
375
3115
591
6
950
747
14
546
8
35
88
197
637
3
31
15
43
732
3126
314
12812
227
353
24
154
346
62
695
1526
303
4
0
32
189
94
77
387
1210
192
3690
2185

2012-2013
2011-2012
( in lakhs)
Particulars
F)
Net Prior period Income/(expenditure) :

Prior Period Incomes
Interest income for prior period
Other Income relating to prior period
Excess provision written Back
Total Credits (a)
22
62
0
84
363
65
129
557
Total Debits (b)

Sub- total (F)
Total (A+B+C+D+E+F)
1785
156
1259
3200
(3116)
72601
37
285
1651
1973
(1416)
56569
Prior Period Expenses/Losses

Operating Expenses of previous years
Employees Costs relating to Previous years
Depreciation unprovided in Previous Years
27.1 The expenditure under Outsourcing job was

28572 lakhs during the year
2012-2013.The details of the expenses are narrated below:Break up of Outstanding Expenses
Sl.
No.
Excluding
Manpower
Particulars
Manpower
related
(
A)
B)
C)
D)
E)
Administrative & General Expenses :

Call Center (ZCC/CRC) as per SOP regulation
Security Expenses
Data Warehousing
Repair & Maintenance Expenses :
Line Maintenance
Substation Maintenance
Mobile Maintenance Service (MCSU as per SOP Regulation
Operational Services :
Bill Distribution
Collection Franchises
Franchises
Meter Reading
Management Services :
Back Office Job
Sub-Total
Others :
Maintenance of Generating Station
Communication Systems (Lease Rental)
Complain Management Mechanism
Service Tax
Sub-Total
Total
in lakhs)
0
584
80
1552
3406
0
1552
3990
80
2665
1009
0
5009
1768
2018
7674
2777
2018
216
1086
457
512
861
0
0
3146
1077
1086
457
3658
408
7017
0
17760
408
24777
787
1666
380
962
3792
28572
27.2 Repair & maintenance Cost was

23904 lakhs. The activity wise such
costs are - for Generation
2228 lakhs, for Distribution and Metering
21375 lakhs & for others
301 lakhs.
125
27.3 Rent, Rate & Taxes includes

and Taxes.
27.4 The administrative cost of
849 lakhs for Rent &
98 lakhs for Rate
299 lakhs of Construction units was capitalized.
27.5 The expenditure on training was incurred for the year 2012-13 for an amount
594 lakhs.
of
27.6 During the year company spent

43 lakhs)
towards Corporate Social Responsibility (CSR) activity. Board of the
Directors of the company has approved expenditure on Corporate Social
Responsibility (CSR) activity of
300 lakhs which will be accounted for as
and when spent/incurred.
27.7 Payment to Auditors as:

Sl.
No.
1
2
3
2012-2013
2011-2012
( in lakhs)
Particulars
Payment to Statutory Auditor :Statutory Aduit Fee
Tax Audit Fee
Cetification Fees
Sub-Total
Cost Audit Fee
Internal Audit Fees
Total
15.50
0.50
1.85
17.85
1.75
145.40
165.00
15.00
0.45
2.76
18.21
1.75
101.00
120.96
The above fees are excluding Service Taxes and out of pocket expenses.
27.8 Operating expenses of previous year includes
expenses.
27.9 Other Debit includes
1778 lakhs for Interest
2524 lakhs on account of various provisions.
27.10 Total value of assets/materials lost due to theft, burglary, fraud etc. was
25 lakhs and the entire amount was provided in the accounts of 2012-13.
NOTE No. : 28 - Tax Expenses
As on 31st
As on 31st
March 2013
March 2012
( in lakhs)
2664
2915
Particulars
Provision of Income Tax
Total
2664
2915
28.1 The Income Tax Assessment of the company has been completed for the
Assessment year 2010-2011 and there are no legitimate demands
outstanding against the company as on 31.03.2013.
28.2 According to the Govt. of West Bengal Order No. 179/PO/O/3R-29/2006 dated
14.06.2007 all Direct and Indirect Taxes assessments, appeal cases filed
126
and pending before the respective tax authorities, High Court or Supreme
Court against WBSEB as on 31.03.2007 have been assigned to WBSEDCL.
28.3 WBSEDCL and WBSETCL being the restructured companies under
Electricity Act, 2003 carry forward business loss and unabsorbed depreciation
of WBSEB as allowed by the Income Tax Authority to WBSEB shared
between the WBSEDCL and WBSETCL on the basis of Net Fixed Assets of
the Companies.
28.4 The Company being a company providing electricity services is eligible to
claim deduction under Section 80 IA of the Income Tax Act, 1961 with respect
to 100% of the Profit and gains derived from its business for 10 consecutive
years within first 15 years of operation (referred to as the tax holiday period).
28.5 The Company is liable to pay MAT as there is book profit in its books of
accounts. Provision for Income Tax of
2664 lakhs has been made in the
accounts on account of MAT.
28.6 There is no net deferred tax liability of the company for the financial year
2012-13.
29.
Expenditure in Foreign Currency
29.1 During the financial year company incurred expenditure in foreign currency
for consultancy services & Maintenance job of Purulia Pumped Storage
1309 lakhs. Expenditure for the previous financial year (2011project for
2012) was
1005 lakhs.
29.2 During the financial year 2012-13 an amount of
346 lakhs has been
considered in the accounts as fluctuation of foreign exchange rate and
adjusted with Fixed assets as per AS-11.
29.3 Earning in Foreign Currency during the financial year is Nil (previous
year Nil)
30.
Sl.
No.
i)
ii)
iii)
iv)
Earning per share

2012-2013
2011-2012
( in lakhs)
Particulars
Net Profit after tax as per Statement of Profit & Loss attributable to
Equity Share holders
Weighted average number of Equity Shares used as denominator for
Calculating EPS (Number in lakhs)
Face Value of Share in ( )
Basic & Diluted Earning per share ( )
127
8172
7348
22567
25584
10
0.36
10
0.29

31. Related Party Disclosures as required by Accounting Standard 18 (AS-18) :
1.
Joint Ventures (where transactions have taken place during the year)
New Town Electric Supply Co. Ltd.
West Bengal Green Energy Development Corporation Ltd.
2.
Key Management Personnel

Name
Designation
Period of Tenure
Sri R. Pandey
Chairman and Managing

Director
From 01.04.2012 to
31.03.2013.
Sri A. Guha
Director (R&T & IT)
From 01.04.2012 to
31.03.2013.
Smt. Saswati Banerjee
Director (HR)
From 01.04.2012 to
30.04.2012.
Sri T. K. Rudra
Director (HR)
From 04.07.2012 to
31.03.2013.
Sri K. K. Ghosh
Director (Finance)
From 01.04.2012 to
31.03.2013.
Sri A. Bose
From 01.04.2012 to
14.11.2012.
Sri Debidas Datta
From 01.04.2012 to
31.03.2013.
3.
Details of Transaction :
( in lakhs)
Nature of Transaction
Remuneration under meaning of Companys Act, 1956
Independent Directors-Fees
Equity Contribution
Dividend Income Received
Assets Received
Advances
Key
Management
Perosnal
Joint
Venture
83
5
-----------------
---239
25
---------
Company being a wholly state owned enterprise, no disclosure as regards to

related party relationship with other state controlled enterprises and
transaction with such enterprises has been made.
128
Disclosure of the Company.s Interest in Joint Venture companies as required

by Accounting Standard 27 (AS-27):
Name of the Company
Description of Interest
% of Interest
New Town Electric Supply Co. Ltd
Core business
50%
West Bengal Green Energy

Development Corporation Ltd
Core business
35%
Other disclosure under Companies Act, 1956

1.1
Total payable amount due to Small Scale Industrial Undertakings (SSI) as

could be identified for over 30 days was for
1539 lakhs.( Previous year
1022 lakhs)
1.2
Some of the required particulars as required under AS-27 could not be

furnished in absence of Audited accounts of Joint Venture Companies.
1.3
According to the management there is no indication of Impairment which

requires re-estimating the recoverable amount of Assets.
1.4
Contingent Liability & Commitments (
In lakhs)
As at 31 March 2013
Sl.
No.
Particulars
(A)
Contingent Liabilities
(i)
Claim against the company not

acknowledged as debts
(B)
Guarantees
(i)
Amount
( in
lakhs)
Remarks
As at 31 March 2012
Amount
( in
lakhs)
81
Interest for Delay

Payment
93
Guarantees to Banks & Financial

Institutions against Letter of Credit
35433
Against Default of
payment
33689
(ii)
Guarantees to PFC on behalf of West

Bengal Green Energy development
corporation Ltd
456
Against Default of
payment
---
(C)
Commitments
(i)
Estimated amount of Contracts

remaining to be executed on capital
account & not provided for
59976
129
Remarks
---
Against Default of
payment
---
50386

As at 31 March 2013
Sl.
No.
(D)
Amount
( in
lakhs)
Particulars
As at 31 March 2012
Amount
( in
lakhs)
Remarks
Remarks
Other Commitments
375
Disputed addition of
Income for the AY2001-02, 2003-04
and 2004-05.
375
Disputed addition of
Income for the AY2001-02, 2003-04
and 2004-05.
6256
Meter Rent, Rental

Income under subjudice, etc.
6275
Meter Rent under

sub-judice, etc.
i)
Income Tax Demand of erstwhile West

Bengal Rural Energy Development
Corporation Limited.
ii)
Sales Tax /VAT/Service Tax
iii)
Municipal Tax
iv)
Contractor Claim under arbitration
1668
Disputed/subjudiced
9000
v)
Misc Court Cases
1042
Billing Dispute &

others
662
vi)
Electricity Duty
6039
Disputed
vii)
UBI Mayukh Bhavan Branch
20
Attached as per
direction of the
court. The matter is
sub-judice
20
Attached as per
direction of the
court. The matter is
sub-judice
viii) Amount deposited as per court order
71
The matter is subjudice
62
The matter is subjudice
118

FRN. 301138 E
(S. P. Mukherjee)
Place : Kolkata
Disputed claims
of different
Municipality
116
6039
Disputed claims
of different
Municipality
Disputed/subjudiced
Billing Dispute
Disputed
( K.K.Ghosh)
Director (Finance)
(P.K.Banerjee)
Company Secretary
130
(Rajesh Pandey)

Annual Report &amp; Accounts 2012-13

Enviado por

Dados do documento

Direitos autorais

Formatos disponíveis

Compartilhar este documento

Compartilhar ou incorporar documento

Opções de compartilhamento

Você considera este documento útil?

Este conteúdo é inapropriado?

Direitos autorais:

Formatos disponíveis

Annual Report &amp; Accounts 2012-13

Enviado por

Direitos autorais:

Formatos disponíveis

Powering West Bengal

ANNUAL REPORT & ACCOUNTS

WEST BENGAL STATE ELECTRICITY DISTRIBUTION

WEST BENGAL STATE ELECTRICITY

Narayan Swaroop Nigam, IAS

Malay Kumar De, IAS

Chairman & Managing Director

Hari Krishna Dwivedi, IAS

Director (RT & IT)

Kalyan Kumar Ghosh

Tapan Kanti Rudra

Rajat Kumar Majumder

Ranjit Kumar Majumder

Tapan Kumar Majumdar

WEST BENGAL STATE ELECTRICITY

Notice Convening 6th Annual General Meeting

Annexure to Directors Report

Management Discussion and Analysis

Report on Corporate Governance

Comments of the Statutory Auditors and the

Independent Auditors Report

Statement of Technical Particulars

Category wise sales in MU & No. of Consumers as on 31.03.2013

Statement of Profit and Loss

Cash Flow Statement

Significant Accounting Policies

Notes on Financial Statement

ANNUAL REPORT & ACCOUNTS 2012-2013

WEST BENGAL STATE ELECTRICITY

81.72 crores from

Hydro Electric and Pumped Storage Schemes

ANNUAL REPORT & ACCOUNTS 2012-2013

ANNUAL REPORT & ACCOUNTS 2012-2013

Creation of new infrastructure for reaching 100% households and associated

(Narayan Swaroop Nigam)

ANNUAL REPORT & ACCOUNTS 2012-2013

West Bengal State Electricity Distribution Company Limited

NOTICE OF 6TH ANNUAL GENERAL MEETING

To fix remuneration of the Statutory Auditor of the Company to be appointed by

A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS

By Order of the Board

ANNUAL REPORT & ACCOUNTS 2012-2013

Generation including PPSP

Profit after tax

Total Revenue Income

Debt Equity Ratio

Assets Turn Over Ratio

Interest Coverage Ratio

Debt Service Coverage Ratio

Stock Turn Over Ratio

Return on capital employed (%)

Return on Net Worth (%)

ANNUAL REPORT & ACCOUNTS 2012-2013

ANNUAL REPORT & ACCOUNTS 2012-2013

West Bengal Green Energy Development Corporation Limited (WBGEDCL):

ANNUAL REPORT & ACCOUNTS 2012-2013

Energy Conservation, Technology Absorption and Foreign Exchange Earning

Adjudged 3 rd best power utility organized by Tech India for outstanding

Indian Chamber of Commerce has conferred third Best Utility award to

Additions of 419 km 33 kv line, 22088 km 11 kv line, 22502 km LT line. Erection

Particulars of Employees under Section 217(2A) of the Companies Act, 1956:

ANNUAL REPORT & ACCOUNTS 2012-2013

ANNUAL REPORT & ACCOUNTS 2012-2013

ANNUAL REPORT & ACCOUNTS 2012-2013

Annual Report & Accounts 2012-13

Annual Report & Accounts 2012-13