Full Text
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
No. 464] NEW DELHI, FRIDAY, JUNE 30, 2023/ASHADHA 9, 194 5
CG-MH-E-04072023-246980
31.03.2023 31.03.2022
`
प ूंजी .............................. ……………………… .…....'क' - -
अन्य फंड का आकार 1,02,671.32 98,253.73
अन्य फूंड.......................... ……………………… ..'घ' 1,50,138.73 1,46,846.96
कुल देयताएूं 4,66,358.03 5,00,067.35
क्षिवेश .......................... …………………… .…..'ङ' 2,89,544.87 3,03,321.77
जमाराक्षशयाूं .....………………………………………… ....'च' 13,477.03 11,792.19
चाल आस्तियाूं .......……………………… ..……… .'छ' 11,124.76 35,836.72
अचल आस्तियाूं ......................... …………………… ...….'ज' 2,072.64 2,269.71
अन्य फूंड की आस्तियाूं ………… ..…….………… 'झ' 1,50,138.73 1,46,846.96
कुल आस्तियाूं 4,66,358.03 5,00,067.35
लाभांश 1,24,881.34 1,10,711.07
ब्याज 4,065.16 3,180.46
अन्य आय 1,534.97 1,285.43
उप य ग(क) 5,09,743.04 5,03,226.46
उप य ग (ख) 352.01 2,593.92
य ग (क-ख) 5,09,391.03 5,00,632.54
कायातलय व्यय 923.28 925.13
प्रचार व्यय 0.85 0.31
एएमसी का शुल्क 919.69 1,059.70
उप य ग (क) 3,116.20 3,224.64
उप य ग (ख) - 710.25
य ग (क)+(ख) 3,116.20 3,934.89
य ग 5,06,274.68 4,96,697.32
य ग 5,06,274.68 4,96,697.32
31.03.2023 31.03.2022
बॉण्ड पूंजी - -
य ग - -
य ग (2,79,463.84) (2,79,463.84)
31.03.2023 31.03.2022
उप य ग (क) 4,25,478.38 4,31,678.87
कुल य ग 1,47,303.14 1,53,574.79
टवटवद लेनदार 4,569.53 33,574.07
य ग (क) 1,21,089.12 1,51,592.82
य ग (ख) 47,827.04 48,052.78
31.03.2023 31.03.2022
फंड का उपयोग 16.54 26.40
फूंड का आकार - उप य ग (क) 58,207.26 55,166.93
टवटवध लेनदार - -
उप य ग (ख) - -
कुल य ग 'ग' = (क+ख) 58,207.26 55,166.93
फंड का उपयोग 86.65 63.24
फूंड का आकार - उप य ग (क) 44,464.06 43,086.80
टवटवध लेनदार 2,319.67 1,777.77
उप य ग (ख) 47,467.41 48,593.23
य ग 'ख' = (क+ख) 91,931.47 91,680.03
ज़मीन पूित स्वाटमत्व 24.04 0.00 0.00 24.04 0.00 0.00 0.00 0.00 0.00 0.00 24.04 24.04
भवन 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
स्वाटमत्व वाले पररसर 7993.91 0.00 370.18 7623.73 5776.98 290.69 40.19 67.82 108.01 5594.30 2029.43 2216.93
कायातलय उपकरि 80.91 0.00 0.00 80.91 54.15 0.00 8.92 0.00 8.92 63.07 17.85 26.76
कंप्यूिर 4.90 0.00 0.00 4.90 2.91 0.00 0.66 0.00 0.66 3.57 1.33 1.99
य ग 8103.76 0.00 370.18 7733.58 5834.04 290.69 49.77 67.82 117.59 5660.94 2072.64 2269.71
31.03.2023 31.03.2022
इस्तक्विी शेयर - -
लागत पर क्षिवेश उप य ग (क) 56,175.31 54,421.28
टवटवध देनदार 2,031.95 745.65
उप य ग (ख ) 2,031.95 745.65
कुल य ग ग = (क+ख) 58,207.26 55,166.93
इस्तक्विी शेयर 4.19 4.21
टमयादी ऋि - -
लागत पर क्षिवेश उप य ग (क) 45,614.40 44,495.60
टवटवध देनदार 42,735.47 43,472.85
उप य ग (ख ) 46,317.07 47,184.43
कुल य ग घ = (क+ख) 91,931.47 91,680.03
एजक्सस बैंक 46534903 843.956 3890.11 131.67 3758.44
क ल 3890.11 131.67 3758.44
ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
NOTIFICATION
Mumbai , the 23rd June, 2023
Reference: UTI/HD/DOFA/SUUTI -Gazette/2023 -24.—The Balance Sheets and Revenue Accounts
together with Auditor’s Report for various schemes of Administrator of the Specified Undertaking of the Unit Trust
of India for the year ended 31st March 2023 are published in terms of Section 21(4) of the Unit Trust of India
(Transf er of Undertaking and Repeal) Act, 2002.
INDEPENDENT AUDITOR’S REPORT
To
The Administrator,
Specified Undertaking of Unit Trust of India (SUUTI),
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
OPINION
We have audited the accompanying financial statements of Specified Undertaking of Unit Trust of India (SUUTI),
which comprise the Balance Sheet as at March 31, 2023, the Revenue Account for the year then ended and notes to
the financial statements, including a summary of the significant accounting policies a nd other explanatory
information.
In our opinion, the aforesaid financial statements give a true and fair view of the state of affairs of SUUTI as at March
31, 2023 and its revenue account for the year ended on that date in accordance with the Accounting S tandards issued
by the Institute of Chartered Accountants of India (ICAI).
BASIS FOR OPINION
We conducted our audit in accordance with the Standards on Auditing (SAs) issued by ICAI. Our responsibilities
under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements
section of our report. We are independent of SUUTI in accordance with the Code of Ethics issued by ICAI and we
have fulfilled our other ethical responsibilities in accordance with the Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
RESPONSIBILITIES OF MANAGEMENT FOR THE FINANCIAL STATEMENTS
Management is responsible for the preparation of these financial s tatements that give a true and fair view of the
financial position, financial performance of SUUTI in accordance with the accounting principles generally accepted in
India, including the Accounting standards applicable to Non Corporate entities issued by I nstitute of Chartered
Accountants of India. This responsibility also includes maintenance of adequate accounting records in accordance
with the provisions of The Unit Trust of India (Transfer of Undertaking and Repeal) Act 2002 (“the Act”) for
safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies, making judgements and estimates that are reasonable and prudent;
and design, implementation and ma intenance of adequate internal financial controls, that were operating effectively
for ensuring the accuracy and completeness of the accounting records, 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.
The Management is responsible in preparing the financial statements on a going concern basis. In preparing the
financial statements, Management is responsible for assessing the SUUTI’ s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the
Management either intends to liquidate SUUTI or to cease operations, or has no realistic altern ative but to do so.
The Management is also responsible for overseeing SUUTI’s financial reporting process.
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
1. Our objectives are to obtain reasonable assurance about whether the financial st atements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accorda nce with SAs will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of u sers taken on the basis of these financial statements.
2. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
entity’s internal control.
• Evaluate the appropriateness of accounting policies used and t he reasonableness of accounting estimates and
related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exi sts related to events or conditions that may cast
significant doubt on the SUUTI’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosur es in the
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may
cause the SUUTI to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that achieve s
fair presentation.
We communicate with those charged with governance regarding, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our
audit.
We al so provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our indepe ndence, and where applicable, related safeguards.
REPORT ON OTHER MATTERS
We further report that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purpose of our audit;
b) In our opinion proper books of accounts as required by the Act, have been kept so far as it appears from our
examination of those books;
c) The balance sheet, the revenue account dealt with by this report are in agreement with the books of account;
and
d) In our opinion, the aforesaid financial statements comply with the Accounting Standards applicable to non -
corporate entities issued by the Institute of Chartered Accountants of India.
For Chandabhoy & Jassoobhoy
Chartered Accountants
Firm Registration No. 101647 W
Dhwani Gala
Partner
Membership No. 139690
UDIN: 23139690BGYSPH1637
Mumbai
Date: 25.04.2023
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA
SIGNIFICANT ACCOUNTING POLICIES
A. Income Recognition:
I. Dividend income is recognized on the following basis:
a. In respe ct of listed equity shares, dividend income is accrued on the “ex -dividend” date.
b. In respect of unlisted equity shares, dividend income is accrued on date of declaration.
c. In respect of preference shares, dividend income is accrued on the date of receipt.
II. Interest on debenture and other fixed income investments is recognized as income on accrual basis.
III. Profit or loss on sale of investments is recognized on the trade dates on the basis of weighted average cost.
IV. Unit Scheme 1964 Bonds, which owns the fixed ass ets, recovers service charges on mutually agreed basis
approved by the Board of Advisors, from UTI AMC Ltd. For the usage of the said assets.
B. Unit Premium Reserve:
In respect of US64, where units are repurchased at a premium over the face value under the s pecial package
announced by Government of India, the premium is charged to Unit Premium Reserve. Wherever US 64 units
are repurchased under the net asset value (NAV) related prices, the discount is credited to unit premium reserve.
C. Expenses:
These are ac counted for on accrual basis.
D. Investments
i. Investments are stated at cost or written down cost.
ii. Purchase and Sale of Securities in Secondary market are accounted on trade dates.
iii. The cost of investment includes brokerage, service tax, stamp charges and other taxes.
iv. Subscription in primary market is accounted as Investments, upon allotment.
v. Right entitlements are recognized as Investment on “ex -right” dates.
vi. Bonus entitlements are recognized as Investment on “ex -bonus” dates.
vii. Investments in debenture/bonds, lo ans and deposits are treated and disclosed as current assets from the
redemption/due date.
E. Valuation for Performing Investments
I. Equity and Equity related Securities:
a. Traded Securities
When a security is traded on any stock exchange within a period of 30 d ays (including the valuation
date) and the aggregate volume of trade during such period is more than 50,000 or if the trade value
is greater than Rs. 5,00,000 the security is treated as traded security. These are valued at the closing
prices on BSE in abs ence of which closing price of NSE is taken.
b. Non traded/Thinly traded/Unlisted securities
Investments in securities, which have not been traded on any stock exchange/Thinly traded/Unlisted
securities are stated at fair value as detailed below.
Based on t he latest available Balance Sheet, net worth shall be calculated as follows:
Share Capital
Plus : Reserves (excluding revaluation reserve)
Less : Miscellaneous expenditure
Less : Intangible Assets (in case of unlisted securities)
Less : P & L Accounts (Deb it balance)
The resultant figure is the Net Worth of the Company, which when divided by the number of shares
outstanding gives the net worth per share.
Capitalized earning price will be arrived at by multiplying the earnings per share with the
discounted i ndustry P/E ratio. Average capitalization rate (P/E ratio) for the industry shall be
discounted by 75%. The value as per the net worth value per share and capital earning value
calculated as above shall be averaged and further discounted by 10% for illiqui dity so as to arrive at
the fair value. In case of unlisted equity shares the discount factor will be 15% instead of 10%.
In case, the Earnings per share (EPS) is -ve, EPS value for the year shall be taken as zero for
arriving at capitalized earning. In case latest balance sheet is not available within 6 months from the
close of the year, the shares of such companies shall be valued to zero. If the net worth of the
company is -ve the shares would be marked down to zero.
II. Debentures, bonds, term loans and transferable notes – Debt Securities:
a. Traded Securities:
Investment in debentures and bonds are valued at the closing market rate as on the date of valuation
and in its absence, at the latest quote available during a period of fifteen days prior to the va luation
date provided there is an individual trade in that security in marketable lot (presently Rs. 5 Crore) on
the Principal Stock Exchange or any other Stock Exchange.
b. Non-traded/Thinly traded securities:
Investment in non traded/thinly traded securit ies is valued as under :
i) Rated Debt Securities:
Debt securities with residual maturity of greater than 60 days:
Investment in securities with residual maturity period of greater than 60 days are valued at
the average of prices provided by CRISIL and ICRA.
Debt securities with residual maturity of up to 60 days:
Investment in debt securities with residual maturity of up to 60 days are valued as on the
valuation date on the basis of amortization.
Debt security with put/call options:
Securities with call optio ns are valued at the worst (lowest) of the call and securities with
put options are valued at best (highest) of the put. Securities with both put and call options
on the day are deemed to mature on the put/call day and are valued accordingly.
Fully / Partl y / Optionally Fully Convertible Debentures:
i. Convertible portion of debentures, where the terms of conversion are available, is
valued as equity at the closing market price or fair value applicable for, traded and
thinly/non traded equity respectively less a discount of 10% towards liquidity.
ii. Non Convertible portion of Convertible debentures and the entire amount of
convertible debentures where the terms of conversion are not available, are valued
as per the norms applicable for non -convertible debentures a s per para E(II)
ii) Unrated / Non Investment grade Debt Securities:
Investments in unrated/non investment grade debt securities are valued at a discount of 25
percent to face value while deep discount bonds are valued at a discount of 25 percent to
carrying c ost.
III. Unquoted warrants:
Unquoted warrants are valued at the market rate of the underlying equity shares discounted for dividend
element, if any, and reduced by the exercise price payable. In cases where the exercise price payable is
higher than the value so derived, the value of warrants is taken as nil and where the exercise price is not
available or the underlying equity is non traded/unlisted, such warrants are valued at cost.
IV. Rights entitlements:
Rights entitlements for the shares are valued at the mar ket price of the share, reduced by the exercise
price payable, further discounted for dividend element, whenever applicable.
V. Money Market Instruments:
Investments in Money Market Instruments are valued at cost plus accrued interest up to the valuation
date.
VI. Unquoted / thinly traded Preference shares”
i. In the absence of rating for Preference share, the ratings available for the debt instruments of a
company is used for valuation.
ii. ‘Unrated’ and ‘Below investment grade’, preference shares are valued at a discou nt of 25% to the
face value.
iii. The cumulative convertible preference shares are valued as per the norms applicable for valuation of
fully convertible debentures. If the details of conversion are not available, they are considered
as ordinary preference shar es and are valued accordingly.
iv. In case, dividend on preference is not received within 90 days, a discount of 15% is applied in the
valuation. If the arrears continue for more than 1 year, the discount applied is 20%/
v. If the redemption value is not receive d within 90 days, 100% provision of the redemption receivable
is made. If the redemption is in parts and proceeds are not received within 90 days, in addition
to the provision for redemption receivable, the discount as given above is applied on the
balanc e.
vi. If there exists provision against a preference share and any other asset issued by the company is
NPA such preference shares are valued at zero.
VII. Mutual Fund Units:
Mutual Fund Units listed and traded are valued at the closing traded price as on the val uation date.
Unlisted MF Units and listed but not traded MF Units are valued at the Net Asset Value (NAV) as on the
valuation date.
VIII. Corporate Action:
Corporate actions such as merger, demerger are referred to the Valuation Committee to discover the
prices of such securities.
F. Depreciation and Provision:
I. Depreciation in the value of investments:
The value of investments as computed in accordance with norms above is compared to the cost of such
investments and the resultant depreciation in the value of all se curities, if any, is fully provided in the
books. However, considering the prudent accounting policy, the appreciation in the value of securities is
not considered as income in the books of accounts.
II. Provisions for non performing asset: (NPA)
i. Provision is made in respect of outstanding interest income of the period prior to the date on which
asset is classified as non -performing (NPA). An “asset” is classified as non -performing, if the
interest and/or principal amount have not been received or remained ou tstanding for one
quarter, i.e. 90 days or more from the day such income/installment has fallen due. The interest
and investment provision is made from the date the asset is classified as NPA.
ii. Provision for NPA is charged to Revenue Account
iii. Provision made as above is written back on receipt of dues, in phased manner.
iv. Provision is made in respect of dividend, where it remains outstanding for more than 120 days from
the ex -dividend date.
G. Inter scheme transactions (ISTs):
Traded equity shares : ISTs of traded securities are effected at the intra -day (spot price) as on the IST date and in
its absence, at the latest closing market price available during the last 30 days.
H. Custodian:
Stock Holding Corporation of India (SHCIL) provides custodial services and their fees are accounted for on
accrual basis.
I. Fixed Assets:
i. Fixed Assets are stated at historical cost less accumulated depreciation, except in respect of land, buildings,
premises and building improvements which are stated at revalued cost less accumulated dep reciation. In
the event of revaluation, the resultant surplus on revaluation is shown as revaluation reserve.
Depreciation on the appreciated amount on account of revaluation is charged to Revaluation Reserve.
ii. Depreciation is provided on the written down value method at the under mentioned rates except on those
assets held for less than six months in the accounting year, where depreciation is provided at half the said
rates: -
Building and ownership premises 5%
Furniture and Fixtures 10%
Office equip ments, Building Improvements,
Software, computers & Motor Vehicles 33.33%
Leasehold land and premises are amortised equally over the period of lease.
iii. Building improvements in leased premises are depreciated at 33.33% in case the lease period exceeds eigh t
years. However, in case the lease period does not exceed eight years, the same is amortised over the period
of lease and in case the lease is not renewed within the period of eight years, the balance unamortised amount
is charged in the last year of lea se.
iv. Fixed assets, which are installed and put to use, pending final settlement of liabilities are stated on an
estimated basis. On final settlement depreciation is adjusted, from the date the asset is put to us.
v. On sale of Fixed Assets, the profit/loss ar rived at after reducing the written down value of cost and
appreciation of fixed asset on revaluation has been accounted in the Revenue account. The balance
outstanding in revaluation reserve for assets sold has been transferred to General Reserve.
J. Reserv e Funds:
In accordance with the provisions of Section 25 B (1) of the erstwhile Unit Trust of India Act, 1963, the two
Funds namely Asset Reconstruction Fund and Staff Welfare Fund, established through contribution from the
Development Reserve Fund, though belonging to the SUUTI, are accounted under the Unit Scheme 1964 Bonds
as a matter of administrative convenience.
Rupees in Lakhs
31.03.2023 31.03.2022
`
CAPITAL..............................……………………….…....'A' - -
RESERVES AND SURPLUS.................……………....'B' 1,47,303.14 1,53,574.79
CURRENT LIABILITIES AND PROVISIONS...……….'C' 1,68,916.16 1,99,645.60
SIZE OF OTHER FUNDS 1,02,671.32 98,253.73
CURRENT LIABILITIES AND PROVISIONS OF OTHER FUNDS 47,467.41 48,593.23
OTHER FUNDS..........................………………………..'D' 1,50,138.73 1,46,846.96
TOTAL LIABILITIES 4,66,358.03 5,00,067.35
ASSETS
INVESTMENTS..........................…………………….…..'E' 2,89,544.87 3,03,321.77
DEPOSITS .....…………………………………………....'F' 13,477.03 11,792.19
CURRENT ASSETS.......………………………..……….'G' 11,124.76 35,836.72
FIXED ASSETS.........................……………………...….'H' 2,072.64 2,269.71
ASSETS OF OTHER FUNDS…………..…….…………'I' 1,50,138.73 1,46,846.96
TOTAL ASSETS 4,66,358.03 5,00,067.35
NOTES TO ACCOUNTS………………………………...'M'
Statement of Significant Accounting Policies forms an integral part of the Accounts.
For and on behalf of
CHANDABHOY & JASSOOBHOY
Chartered Accountants
Firm Registration No. 101647W
DHWANI GALA SUROJIT SAHA VASANTHA GOVINDAN
Partner Chief Finance Officer Chief Executive Officer
ICAI Membership No. A139690
Mumbai
Dated : 25th April, 2023As per our attached report of even dateADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
BALANCE SHEET AS AT 31ST MARCH, 2023
SUUTI
Rupees in Lakhs
CURRENT PREVIOUS
YEAR YEAR
INCOME
DIVIDEND 1,24,881.34 1,10,711.07
INTEREST 4,065.16 3,180.46
PROFIT ON SALE/REDEMPTION OF INVESTMENT OTHER THAN IST 3,78,967.60 3,84,239.78
OTHER INCOME 1,534.97 1,285.43
PRIOR PERIOD INCOME (NET) 10.67 169.99
PROVISION FOR DOUBTFUL INCOME PR YR WRITTEN BACK 0.73 -
PROVISION FOR DOUBTFUL INVESTMENT& DEPOSITS WRITTEN BACK 282.57 3,639.73
SUB TOTAL (A) 5,09,743.04 5,03,226.46
LESS:PROVISION FOR DOUBTFUL INCOME 57.49 49.88
LESS:DOUBTFUL INVESTMENT& DEPOSITS WRITTEN OFF 294.52 2,544.04
SUB TOTAL (B) 352.01 2,593.92
TOTAL (A-B) 5,09,391.03 5,00,632.54
EXPENDITURE
OFFICE EXPENSES 923.28 925.13
PUBLICITY EXPENSES 0.85 0.31
CUSTODIAL,REGISTRAR & BANK CHGS 1,210.55 1,165.79
AUDITORS' FEES 12.06 13.53
AMC FEES 919.69 1,059.70
DEPRECIATION ON FIXED ASSETS 49.77 60.18
SUB TOTAL (A) 3,116.20 3,224.64
ADD: LOSS ON SALE/REDEMPTION OF INVESTMENT OTHER THAN IST - 710.25
SUB TOTAL (B) - 710.25
TOTAL (A)+(B) 3,116.20 3,934.89
EXCESS OF INCOME OVER EXPENDITURE 5,06,274.83 4,96,697.65
TOTAL 5,09,391.03 5,00,632.54 ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
REVENUE ACCOUNTS FOR THE PERIOD 1ST APRIL, 2022 TO 31ST MARCH, 2023
SUUTI
Rupees in Lakhs
CURRENT PREVIOUS
YEAR YEAR
REVENUE APPROPRIATION ACCOUNT
EXCESS OF INCOME OVER EXPENDITURE 5,06,274.83 4,96,697.65
LESS : PREMIUM ON MATURITY - REDEMPTION (0.15) (0.33)
TOTAL 5,06,274.68 4,96,697.32
BALANCE TRANSFERRED TO GENERAL RESERVE 5,06,274.68 4,96,697.32
TOTAL 5,06,274.68 4,96,697.32
Statement of Significant Accounting Policies forms an integral part of the Accounts.
For and on behalf of
CHANDABHOY & JASSOOBHOY
Chartered Accountants
Firm Registration No. 101647W
DHWANI GALA SUROJIT SAHA VASANTHA GOVINDAN
Partner Chief Finance Officer Chief Executive Officer
ICAI Membership No. A 139690
Mumbai
Dated : 25th April, 2023As per our attached report of even dateSUUTIADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
REVENUE APPROPRIATION ACCOUNTS FOR THE PERIOD 1ST APRIL, 2022 TO 31ST MARCH, 2023
Rupees in Lakhs
31.03.2023 31.03.2022
SCHEDULE 'A'
CAPITAL
BOND CAPITAL - -
TOTAL - -
SCHEDULE 'B'
RESERVES AND SURPLUS
UNIT PREMIUM RESERVE
BALANCE AS PER THE LAST BALANCE SHEET(UPR) (2,79,463.84) (2,79,463.84)
PREMIUM COLLECTED/(PAID) DURING THE YEAR(NET) - -
TOTAL (2,79,463.84) (2,79,463.84)
FIXED ASSETS REVALUATION RESERVE
BALANCE AS PER LAST B.SHEET(REVALUATION RESERVE) 1,359.76 1,513.52
LESS: TRANSFERRED TO DEPRECIATION ON FIXED ASSETS 67.82 74.01
LESS: TRANSFERRED TO GENERAL RESERVE 3.34 79.75
TOTAL 1,288.60 1,359.76 SCHEDULES ANNEXED T O AND FORMING PART OF T HE ACCOUNT S FOR T HE YEAR ENDED 31ST MARCH, 2023
SUUTIADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
Rupees in Lakhs
31.03.2023 31.03.2022
SCHEDULE 'B' (Contd.)
GENERAL RESERVE
GENERAL RESERVE ON UNIT CAPITAL
BALANCE AS PER LAST BALANCE SHEET. 4,31,678.87 4,45,035.36
TRANSFERRED FROM REVENUE APPROPRIATION ACCOUNT 5,06,274.68 4,96,697.32
TRANSFERRED FROM FIXED ASSET REVALUATION RESERVE 3.34 79.75
REMITTANCE TO GOI (5,12,478.51) (5,10,133.56)
SUB TOTAL (a) 4,25,478.38 4,31,678.87
GRAND TOTAL 1,47,303.14 1,53,574.79
SCHEDULE 'C'
CURRENT LIABILITIES AND PROVISIONS
CURRENT LIABILITIES
SUNDRY CREDITORS 4,569.53 33,574.07
APPLICATION MONEY PENDING 20.43 20.46
UNCLAIMED INCOME/INTEREST DISTRIBUTION 1,16,499.16 1,17,998.29
TOTAL (A) 1,21,089.12 1,51,592.82
PROVISIONS
PROVISION FOR DOUBTFUL INCOME 867.25 810.49
PROVISION FOR DOUBTFUL INVESTMENTS & DEPOSITS 45,684.94 45,967.51
PROVISION FOR RECEIVABLES 1,274.85 1,274.78
TOTAL (B) 47,827.04 48,052.78
TOTAL (A)+(B) 1,68,916.16 1,99,645.60 ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
SCHEDULES ANNEXED T O AND FORMING PART OF T HE ACCOUNT S FOR T HE YEAR ENDED 31ST MARCH, 2023(CONT D.)
SUUTI
Rupees in Lakhs
31.03.2023 31.03.2022
SCHEDULE 'D'
OTHER FUNDS
(A)STAFF WELFARE FUND (SWF)
BALANCE AS PER LAST BALANCE SHEET 55,166.93 53,146.74
INCOME/INTEREST RECEIVED DURING THE YEAR 3,056.87 2,046.59
UTILISATION OF FUND 16.54 26.40
SIZE OF THE FUND - SUB TOTAL (a) 58,207.26 55,166.93
CURRENT LIABILITIES & PROVISIONS
SUNDRY CREDITORS - -
SUB TOTAL (b) - -
TOTAL 'A' = (a+b) 58,207.26 55,166.93
(B) ASSET RECONSTRUCTION FUND (ARF)
BALANCE AS PER LAST BALANCE SHEET 43,086.80 41,815.35
INCOME/INTEREST RECEIVED DURING THE YEAR 1,463.91 1,334.69
UTILISATION OF FUND 86.65 63.24
SIZE OF THE FUND -SUB TOTAL (a) 44,464.06 43,086.80
CURRENT LIABILITIES & PROVISIONS
SUNDRY CREDITORS 2,319.67 1,777.77
PROVISION FOR DOUBTFUL INCOME 3,581.60 3,711.58
PROVISION FOR DOUBTFUL INVESTMENTS & DEPOSITS 41,566.14 43,103.88
SUB TOTAL (b) 47,467.41 48,593.23
TOTAL 'B' = (a+b) 91,931.47 91,680.03
SIZE OF OTHER FUNDS - TOTAL I 1,02,671.32 98,253.73
CURRENT LIAB. & PROVN. OF OTHER FUNDS-TOTAL II 47,467.41 48,593.23
OTHER FUNDS TOTAL (A+B) 1,50,138.73 1,46,846.96 SCHEDULES ANNEXED T O AND FORMING PART OF T HE ACCOUNT S FOR T HE YEAR ENDED 31ST MARCH, 2023 (CONT D.)
SUUTIADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
Rupees in Lakhs
31.03.2023 31.03.2022
SCHEDULE 'E'
INVESTMENTS
DEBENTURES AND BONDS 0.01 0.01
PREFERENCE SHARES 686.79 686.79
EQUITY SHARES 2,56,459.21 2,70,236.11
MUTUAL FUND UNITS 32,398.86 32,398.86
TOTAL 2,89,544.87 3,03,321.77
QUOTED (AT COST) 2,10,206.24 2,23,441.68
UNQUOTED (AT COST) 79,338.64 79,880.10
'A' 2,89,544.88 3,03,321.78
QUOTED (MARKET VALUE) 37,43,762.37 28,04,557.19
UNQUOTED (AT VALUATION) 2,77,682.34 2,15,218.98
'B' 40,21,444.71 30,19,776.17
APPRECIATION/(DEPRECIATION) IN VALUE OF INVESTMENT
TOTAL ('B' - 'A') 37,31,899.83 27,16,454.39
SCHEDULE 'F'
DEPOSITS
OTHER DEPOSITS/DEPOSITS WITH BANKS 13,477.03 11,792.19
TOTAL 13,477.03 11,792.19
SCHEDULE 'G'
CURRENT ASSETS
BALANCE WITH BANKS IN CURRENT ACCOUNTS 95.19 86.37
SUNDRY DEBTORS 9,878.59 34,771.07
OUTSTANDING AND ACCRUED INCOME 1,133.14 961.44
ADVANCES,DEPOSITS ETC 17.84 17.84
TOTAL 11,124.76 35,836.72 SCHEDULES ANNEXED T O AND FORMING PART OF T HE ACCOUNT S FOR T HE YEAR ENDED 31ST MARCH, 2023 (CONT D.)ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
SUUTI
U S 64 BONDS
SCHEDULE ' H '
FIXED ASSETS
(RUPEES IN LAKHS)
AS ON 31ST ADDITIONS/ DEDUCTIONS/ TOTAL AS ON AS ON 31ST DEDUCTIONS/ DEP. ON COST FOR DEPRE ON REVALUED TOTAL DEPRE TOTAL AS ON AS ON 31ST AS ON 31ST
MARCH, 2022 ADJUSTMENTS ADJUSTMENTS 31.03.2023 MARCH, 2022 ADJUSTMENTS 01.04.2022 to 31.03.2023 COST TRF FROM
REVAL RESERVE
(01.04.22 TO 31.03.23)01.04.22 TO
31.03.2331.03.2023 MARCH, 2023 MARCH, 2022
LAND (FREEHOLD) 24.04 0.00 0.00 24.04 0.00 0.00 0.00 0.00 0.00 0.00 24.04 24.04
BUILDINGS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
OWNERSHIP PREMISES 7993.91 0.00 370.18 7623.73 5776.98 290.69 40.19 67.82 108.01 5594.30 2029.43 2216.93
OFFICE EQUIPMENTS 80.91 0.00 0.00 80.91 54.15 0.00 8.92 0.00 8.92 63.07 17.85 26.76
COMPUTERS 4.90 0.00 0.00 4.90 2.91 0.00 0.66 0.00 0.66 3.57 1.33 1.99
TOTAL 8103.76 0.00 370.18 7733.58 5834.04 290.69 49.77 67.82 117.59 5660.94 2072.64 2269.71
Page 8 of 9 ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
SCHEDULE ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2023 (CONTD… ..)
GROSS BLOCK AT COST DEPRECIATION NET BLOCK
Rupees in Lakhs
31.03.2023 31.03.2022
SCHEDULE 'I'
ASSETS OF OTHER FUNDS
(A) ASSETS OF STAFF WELFARE FUND (SWF)
EQUITY SHARES - -
MUTUAL FUND UNITS 1,487.81 1,487.81
OTHER DEPOSITS/DEPOSITS WITH BANKS 54,687.50 52,933.47
INVESTMENT AT COST SUB TOTAL (a) 56,175.31 54,421.28
CURRENT ASSETS
SUNDRY DEBTORS 2,031.95 745.65
SUB TOTAL ( b ) 2,031.95 745.65
TOTAL A = (a+b) 58,207.26 55,166.93
(B) ASSETS OF ASSET RECONSTRUCTION FUND (ARF)
DEBENTURES AND BONDS - -
EQUITY SHARES 4.19 4.21
MUTUAL FUND UNITS 18,000.00 18,000.00
TERM LOANS - -
OTHER DEPOSITS/DEPOSITS WITH BANKS 27,610.21 26,491.39
INVESTMENT AT COST SUB TOTAL (a) 45,614.40 44,495.60
CURRENT ASSETS
OUTSTANDING AND ACCRUED INCOME 3,581.60 3,711.58
SUNDRY DEBTORS 42,735.47 43,472.85
SUB TOTAL ( b ) 46,317.07 47,184.43
TOTAL B = (a+b) 91,931.47 91,680.03
ASSETS OF OTHER FUNDS TOTAL (A+B) 1,50,138.73 1,46,846.96 SCHEDULES ANNEXED T O AND FORMING PART OF T HE ACCOUNT S FOR T HE YEAR ENDED 31ST MARCH, 2023 (CONT D.)ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA
SUUTI
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA
NOTES FORMING PART OF ACCOUNTS FOR THE YEAR ENDED 31STMARCH, 2023
Sched ule “M”
1. The Unit Trust of India Act, 1963 has been repealed by Government of India viz. “The Unit Trust of India
(Transfer of Undertaking and Repeal) Act, 2002”. In exercise of the powers conferred under the Repeal Act,
the Central Government vide its not ification dated 15th January 2003 had notified 1st February 2003 as the
“Appointed day” for the purpose of transfer and vesting the undertaking of the erstwhile UTI into two entities
viz Specified Undertaking of Unit Trust of India (SUUTI) and UTI Mutual F und. These financial statements
are drawn up for SUUTI, pursuant to the said Repeal Act.
2. During the year the equity shares of Axis Bank weresold as per the details given below. An amount of Rs.
3758.44 crore has been booked as profit on sale of these sh ares. The acquisition cost of these equity shares
have been taken as weightage average cost.
Rs. In crores
Security No. of shares Selling price
(Per unit) Sale value Purchase
value Profit
Axis Bank 46534903 843.956 3890.11 131.67 3758.44
TOTAL 3890.11 131.67 3758.44
3. The reconciliation of our Books of Accounts with the custodian (SHCIL) has revealed the following
differences: -
Sr.
No. Asset class Difference (Rs. In
crores) Reason
1. Equity Shares 4.63 (cost) Sale effected in books but share s not released as
buyer’s demat accounts are blocked/NCLT order
pending
2. Preference
Shares 0.05 (cost) Companies are not responding/are under liquidation
3. Debentures and
Bonds 136.60 (Face Value) Details Amount
Legal action taken for recovery of
dues 77.92
Confirmation/letter evidencing
servicing of dues from Company
available 0.65
Security not issued subsequent to
restructuring 24.67
Sick/Liquidated companies 33.36
All the above investments (Debentures and Preference Shares ) are NPAs and are fully provided in books. All
the Equity shares which are not available in custody are also fully provided in books .
4. Investments include:
i) Unsecured advances and loans extended from time to time as provided under sub section (3) of section
19 of the erstwh ile UTI Act 1963;
ii) Equities and debts where the certificates are yet to be issued by the companies;
iii) Debt exposure in respect of which security creation is in process.
5. Following are the companies where SUUTI has substantial holding.
Name of the Company % hol ding of SUUTI
UTI Infrastructure Technology and Services Ltd. 100%
6. The work relating to management and maintenance of property belonging toSUUTI and related matters has
been outsourced to UTI Infrastructure Technology and Services Limited (Company). The company has
entered into formal agreement with SUUTI on 13 -09-2021 relating to the scope of work and related service,
which is valid up to 31stMarch, 2023.
a. The work relating to sale/documentation/legal cases for properties situated at Nagpur, Nashik, Raj kot,
Bhopal, Ghatkopar, Maker Kundan Garden, Bandra Reclamation Mumbai, Banjara Hills – Hyderabad
and Gurgaon under the ownership/possession of SUUTI is a continuous process and is being carried out.
b. SUUTI has given the flats at Maker Kundan Garden and Ban dra Reclamation – Mumbai on Leave and
License to various Organisations. Formal agreement has been entered with EXIM, LIC, SEBI, UTI
RSL and UTI AMC.
7. Contingent liability not provided for cases pending with Consumer Forum amounts to Rs. 1.37 crore (Previo us
year Rs. 1.91 crore).
8. The previous year figures are regrouped/reclassified wherever necessary.
SUROJIT SAHA VASANTHA GOVINDAN
Chief Finance Officer Chief Executive Off icer
[ADVT. -III/4/Exty./245/2023 -24]
For and on behalf of
Chandabhoy&Jassoobhoy
Chartered Accountants
Firm Registration No: 101647W
Dhwani Gala
Partner
Membership No: A 139690
MUMBAI
DATED: 25th April, 2023
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