? IOOIOI ? \ 00 .$ '.,I J.S. UBEROI & CO. Chartered Accountants 2, "Sat-Pratap"' Bezonbagh, Kamptee Road, Nagpur-440 004 Tel : (0712) 2630560, Fax : 2652354 E-mail : msjsu@jsuberoi.com To, Chief General Manager (Finance), MSPGCL, Mumbai Reference: Ref. No. CGM{Fin)/WB R&M 17-18/Audit/11585 dt. 03.10.2018 Subject: Submission of Report for the R&M Project of MSPGCL funded by World Bank for the FY 2017-18 and extended period upto 29.09.2018.. - 1 i - I cl . Sir, With reference to above please find attached herewith Report on R&M Projects of MSPGCL funded by the World Bank for the FY 2017-18 and extended period upto 29.09.2018 for your kind reference. Kindly acknowledge receipt of same. Thanking You. Yours Faithfully CA Manmohan Singh Renu Partner Place:- Nagpur Date :- 20/01/2019 Branches at : Nagpur, Amravati Web Site : www.jsuberoi.com J.S. UBEROI & CO. Chartered Accountants 2, "Sat-Pratap"' Bezonbagh, Kamptee Road, Nagpur-440 004 Tel : (0712) 2630560, Fax : 2652354 E-mail : msjsu@jsuberoi.com To, Chief Engineer (P&P), MSPGCL, Prakash Gad Mumbai. Sir, We have completed the Audit of Projected Financial Statements of Energy Efficient Renovation and Modernisation at Koradi Unit 6, Chandrapur Unit 1 & 2, Bhusaval Unit 2 and Parli Unit 3 projects of Mahagenco, financed under World Bank Loan No. 7687 - IN and GEF Grant No. 094676- IN. We have received all the information that was necessary for the purpose of our Audit. The records and documents pertaining to the expenditure incurred as reflected in the Projected Financial Statements, were sufficient: to form the opinion on its fairness. We do not suggest any improvement or modification in maintenance of records. We feel that the internal controls, required to ensure that the expenditure is incurred as per the directions of the Bank, are in place. Sincerely, For, M/s. J.S. Uberoi & Co. Partner Place:- Nagpur Date :- 20/01/2019 Branches at : Nagpur, Amravati Web Site : www.jsuberoi.com J.S. UBEROI & CO. Chartered Accountants 2, "Sat-Pratap" Bezonbagh, Kamptee Road, Nagpur-440 004 Tel : (0712) 2630560, Fax : 2652354 E-mail : msjsu@jsuberoi.com AUDIT REPORT We have audited the accompanying financial statements, including the Statements of Expenditure based on Interim Unaudited Financial Reports for the Energy Efficient Renovation & Modernization schemes at Koradi Unit 6, Chandrapur Unit 1 & 2, Bhusawal Unit 2 and Parli Unit 3 projects of Mahagenco (financed under the World Bank Loan No.7687-IN and GEF Grant No. TF 094676 - IN) as of 31st March, 2018 and further extended period upto 29th September 2018. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Accounting Standards issued by Institute of Chartered Accountants of India, and World Bank guidelines. Those Standards and / or World Bank guidelines require that we plan and perform audit to obtain reasonable assurance about whether financial statements are free of material misstatement. An audit includes examining, on test basis, evidence supporting the amount and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides the reasonable basis for our opinion. In our opinion, the financial statements give a true and fair view of the Sources and Application of Funds for Energy Efficient Renovation & Modernization schemes at Koradi Unit 6, Chandrapur Unit 1 & 2, Bhusawal Unit 2 and Parli Unit 3 projects of Mahagenco for the period 31st March, 2018 and further extended period upto zs" September 2018 in accordance with Accounting Standards Contd .... 2 .... Branches at : Nagpur, Amravati Web Site : www.jsuberoi.com .... 2 .... We further report that, (a)The funds provided under the Credit (Loan No. 7687 - IN and GEF Grant No.TF 094676-IN) have been utilized for the purposes for which they were provided. (b)The Interim Unaudited Financial Reports submitted could be fairly relied upon to support the applications for withdrawals in accordance with the requirements specified in the Credit Agreement; and (c) The financial statements of the Special Account give a true and fair view of the financial position with respect to Statements of Expenditure, as adequate supporting documents have been maintained to support the claim to World Bank for reimbursement of expenditure incurred. Thanking You, Yours faithfully, For M/s. l.S. Uberoi & ce., Chartered Accountants, c, \)eER01 :n 11. :>1ci Claim of ABB India Ltd material (R&M) WA-216,217, 244,277,283, 2017-18 & TF094676 Grant 8,034.30 286,289,299, 2018-19 100 II. 106 GDVC Feeder, prov of 7687-IN WA-223,229 2018-19 IBRD Loan 758.28 Claim of Amol Koradi TPS U-6 Control Panel, H.T. Electronics & Electricals (R&M) protection relay etc TF094676 WA-289,296 2018-19 Grant 176.93 WA-161, 166, 179, 185, 211, Koradi TPS U-6 7687-IN 212, 216, 218, 2017-18 & IBRD Loan 902,270.48 Progressive payment (R&M) 221, 223, 224, 2018-19 towards supply of 234 to 36, 238 Claims of Bharat Heavy R. ')41 component of the said Electricals Ltd WA-215, 220, project as per Contract 238, 245, 276, Agreement Koradi TPS U-6 TF094676 277,282,284, 2017-18 & Grant 210,529.78 (R&M) 287, 289, 293, 2018-19 301 to 03, 305 R. ~nR Refurbishment of WA-212, 229 & 2017-18 & 7687-IN IBRD Loan 20,505.94 Claim of BMH Centralised AC Plant Koradi TPS U-6 231 2018-19 Technologies System & Supply & (R&M) WA-277, 296 & 2017-18 & instalation of fall TF094676 Grant 4,784.72 298 2018-19 rPilinn nf rrmtr-nl rnnm Errection & 7687-IN WA-240 27-Sep-18 IBRD Loan 1,088.16 Claim of CALWIN commissioning incl. Koradi TPS U-6 Engineers supply of degasser air (R&M) blower for WTP TF094676 WA-307 27-Sep-18 Grant 253.90 Chemical Resistance 7687-IN WA-240 27-Sep-18 IBRD Loan 2,044.99 Claim of CHETAN Koradi TPS U-6 coating Henkel Loctite Enterprises (R&M) Make TF094676 WA-307 27-Sep-18 Grant 477.16 Procurement of online 7687-IN WA-240 27-Sep-18 IBRD Loan 121. 78 Claim of FORBES Koradi TPS U-6 conductivity and ph MARSHAL P. LTD (R&M) analyser for DM TF094676 WA'307 27-Sep-18 Grant 28.41 Dismentaling & 7687-IN WA-229 2-Aug-18 IBRD Loan 342.43 Claim of K. Y. servicing of KGV, Koradi TPS U-6 BHOSKAR errection of cylinder (R&M) operated KGV TF094676 WA-296 31-Jul-18 Grant 79.90 Work of dismentaling & servicing of feeder 7687-IN WA-229 2-Aug-18 IBRD Loan 345.77 Claim of Kunal Koradi TPS U-6 Construction ejector and allied (R&M) material and its TF094676 WA-296 31-Jul-18 Grant 80.68 transoortation ~- a 0· C? I-; 1c N~GPUR ;l r:: q Q) _,. ~ #t te,-ed~o - Grant/ Withdrawal Date of Name of the Party Particulars TPS Contract No. Amount Amount ln;,n Nn Nn ,olo;,co 7687-IN WA-203 20-Feb-18 !BRO Loan 355.43 Claim of Mahendra D. Construction of ESP Koradi TPS U-6 Maid control room (R&M) TF094676 WA-267 20-Feb-18 Grant 82.93 Expenditure on LDO / 7687-IN WA-240 27-Sep-18 IBRD Loan 36,787.56 FO on U-6 during Koradi TPS U-6 Claim of MSPGCL period 28 Dec, 2017 to (R&M) 29 March, 2018 TF094676 WA-307 27-Sep-18 Grant 8,583.76 Errection and commissioning of ESP 7687-IN WA-223 &229 2018-19 !BRO Loan 443.31 Claim of Narayani transformers & 9 Koradi TPS U-6 Electrical & Mechanical replacement of rubber (R&M) Industries bellows along the bus TF094676 WA-289 &296 2018-19 Grant 103.44 duct Procurement of Plant, WA-223, 229 & Design, Supply for Fire 7687-IN 2018-19 IBRD Loan 4,944.07 Claim of Nitin Fire 230 Detection, Protection & Koradi TPS U-6 Protection Industries Inert Gas System (R&M) Ltd Pacakge of EE R&M of TF094676 WA-289 &296 2018-19 Grant 1,153.62 Koradi U-6 WA-160, 164, 165, 177, 178, 2017-18 & 7687-JN 183, 203, 210, IBRD Loan 143,151.24 2018-19 Claim of Hamon Progress payment 212, 215, 222, Koradi TPS U-6 223. 226 & 237 Shriram Cottrell Pvt. towards Contract as (R&M) WA-214, 218, Ltd per Terms of Contract 219, 235, 237, 2017-18 & TF094676 243, 267, 275, Grant 33,401.96 2018-19 277, 281, 288, 289. 292 & 304 carrying out Misc. Civil works for 7687-IN WA-203 20-Feb-18 !BRO Loan 101.99 transportation, Claim of Om Sai excavation for Koradi TPS U-6 Constructions roadways in earth, (R&M) supplying rubble, TF094676 WA-267 20-Feb-18 Grant 23.80 rubble soling, suoolvino murum. MS Panel with powder 30.74 7687-IN WA-229 2-Aug-18 !BRO Loan Claim of S.N. Sales coating gry colour with Koradi TPS U-6 Corporation 400 AMP MCCB, (R&M) TF094676 WA-296 31-Jul-18 Grant 7.17 DC,250 V Make HT/ LT Boards/ Panel 7687-IN WA-212 22-Mar-18 !BRO Loan 16.99 Claim of Shree Sai Koradi TPS U-6 cleaning U#6 KTPS Enterprises (R&M) Koradi TF094676 WA-277 22-Mar-18 Grant 3.97 7687-IN WA-212 22-Mar-18 IBRD Loan 125.19 Supply of 3 Bus Duct Koradi TPS U-6 Claim of SIDDHI SEALS Rubber Bellows 6.6 Kv (R&M) TF094676 WA-277 22-Mar-18 Grant 29.21 Procurement of acid 7687-JN WA-240 27-Sep-18 !BRO Loan 194.04 Claim of SUJIT pump and alkali pump Koradi TPS U-6 Engineering alongwith Motor for (R&M) TF094676 WA-307 27-Sep-18 Grant 45.28 WTP-II. KTPS WA-177, 219, Design & supply of 2017-18 & 7687-JN 223, 225, 229 !BRO Loan 34,213.40 equipments for ash 2018-19 Claim of The Indure Koradi TPS U-6 &242 handling system Pvt Ltd (R&M) WA-235, 285, package of EE R&M & 2017·18 & TF094676 289, 291, 296 Grant 7,983.13 LE of Koradi U-6 2018-19 &309 Providing & applying of 7687-IN WA-240 27-Sep-18 !BRO Loan 873.99 Claim of VARUNA Rubber liling of DM Koradi TPS U-6 Grant/ Withdrawal Date of Name of the Party Particulars TPS Contract No. Amount Amount ln2n Nn Nn release Industries Streams at WTP-11 (R&M) 1F094676 WA-307 27-Sep-18 Grant 203.93 Koradi Procurement of DM 7687-IN WA-240 27-Sep-18 IBRD Loan 631.28 Claim of WRT Sales & Inlet Pump & Koradi TPS U-6 Services Pvt Ltd Trabnsfer Pump for (R&M) 1F094676 WA-307 27-Sep-18 Grant 147.30 WTP at KTPS, Koradi Claim of Energo Payment against Bhusawal TPS Engineering Projects completion and 1F094676 WA-290 21-Jun-18 Contract 4 1,718.46 U-2 Ltd aooroval of DPR (EA& DD) Consultancy services for Health assessment of Coal Bunker Contract 1 Claim of Structwell Koradi TPS U-6 Structure of Koradi U-6 1F094676 WA-266 21-Jun-18 (lmplementat 1,927.22 Designers & Consultant (R&M) and Structural Stability ion Support) of existing foundation of ash hopper Progress payments Claim of Tata towards consultancy Contract 1 Consulting Engineers Koradi TPS u-s 1F094676 WA-172 & 193 2016-17 (lmplementat 3,097.28 services for (R&M) Ltd Implementation ion Support) ~11nn"rt Progress payments Claim of Tata towards consultancy Koradi TPS U-6 Contract 2 Consulting Engineers 1F094676 WA-172 & 193 2016-17 31,731.03 services for quality (R&M) (Quality Ltd ;:is.c:;11r.-=inr.P. Assurance) Bank Fund claimed during the current year 1,498 469.047 I I Total Bank Fund claimed upto the current year and further period (as on 29.09.2018) Total Amount 3,714,629.91 I I l I I 80 Note - Date for final submission ·' · World Bank were 29.09.2018, however value date for disbursement in some cases is upto 4th Oct, 2018. For, M/s. J.S.Uberoi & I 'a!1, . Chartered Accountan~ -; • ) FRN: 1111~"'- 1r la ~ Cl §' ~6/ Partner 1<,j,).. CA Manmohan Singh Renu tered ~ r,.c:,e,cf>. ~ Chief Engineer (P&P} Ch~~, M.No: 156108 Chief Engineer(: & P)Chief General Manager (F" ) MSPGCL MUMBAI . SJ.,,-' - mance Place: Nagpur , l\:1tir,ar;:shtra State Power Generation Co. Ltd Date: 20.01.2019 n ' rrakashgad, Bandra (East), Mumbai - 400 051. MAHARA SHTRA STATE POWER GENERATION COMPANY LIMITED Name of the Project - EE R & M Schemes of Maharashtra State Power Generation Co. Ltd. Loan No. - 7687-IN / Grant No. - TF 094676 Schedules to the report - Reconciliation of Claims to Application of Fund for year ended 31.3.18 and futher upto 29.09.2018 Schedule III Ineligible Expenditure (Amt in '000) Name of Partv Particulars TPS Source Amount Koradi U-6 From Internal Claims of ABB India Ltd supply of electrical material 10,680.20 (R&M) Sources GDVC Feeder, provision of Claims of Amol Electronics & Koradi U-6 From Internal Control Panel, H.T. protection 328.59 Electricals (R&M) Sources relay replacement, etc Progressive payment towards Claims of Bharat Heavy supply of component of the Koradi U-6 From Internal 147,957.19 Electricals Ltd said project as per Contract (R&M) Sources Agreement Refurbishment of Centralised AC Plant System & Supply & Koradi U-6 From Internal Claims of BMH Technologies 8,885.91 instalation of fall ceiling of (R&M) Sources rnntrnl rnnm Errection & commissioning incl. Koradi U-6 From Internal Claims of CALWIN Engineers supply of degasser air blower 471.54 (R&M) Sources for WTP Claims of CH ETAN Chemical Resistance coating Koradi U-6 From Internal 886.16 ENTERPRISES Henkel Loctite Make (R&M) Sources Claims of FORBES MARSHAL Procurement of online Koradi U-6 From Internal conductivity and ph analyser 52.77 P. LTD {R&M) Sources fnr l'IM Dismentaling & servicing of Koradi U-6 From Internal Claims of K. Y. Bhaskar KGV, errection of cylinder 148.39 (R&M) Sources operated KGV Work of dismentaling & servicing of feeder ejector and Koradi U-6 From Internal Claims of Kunal Construction 149.84 allied material and its (R&M) Sources -•1 .... 1n 11 -•11 11 Construction of ESP control Koradi U-6 From Internal Claims of Mahendra D. Maid 154.02 room (R&M) Sources Expenditure on LDO / FO on U- Koradi U-6 From Internal Claims of MSPGCL 6 during period 28 Dec, 2017 15,941.27 {R&M) Sources to 29 March, 2018 Errection and commissioning of Claim of Narayani Electrical ESP transformers & 9 Koradi U-6 From Internal 192.10 & Mechanical Industries replacement of rubber bellows (R&M) Sources l;ilnnn thi:> bue rl11rt Procurement of Plant, Design, Supply for Fire Detection, Claim of Nitin Fire Protection Koradi U-6 From Internal Protection & Inert Gas System 2,142.43 Industries Ltd (R&M) Sources Pacakge of EE ~&M of Koradi U 6 /.p,ER n-;--,. I*IB) ...,. CJ<;>) .,... NAGPUR .* ~'l•Q' Acea-)~ :.:::-- 0 -eJ ,f Name of Partv Particulars TPS Source Amount Claims of Hamon Shriram towards Dismantling of Main Koradi U-6 From Internal 44,905.96 Cottrell Pvt. Ltd Cooling Tower (R&M) Sources carrying out Misc. Civil works for transportation, excavation Claim of Om Sai for roadways in earth, Koradi U-6 From Internal 44.20 Constructions supplying rubble, rubble soling, (R&M) Sources supplying murum, fixing in position gate MS Panel with powder coating Claim of S.N. Sales Koradi U-6 From Internal gry colour with 400 AMP MCCB, 13.32 Corporation (R&M) Sources DC,250 V Make Claim of Shree Sai HT / LT Boards / Panel cleaning Koradi U-6 From Internal 7.36 Enterprises U#6 KTPS Koradi (R&M) Sources Supply of 3 Bus Duct Rubber Koradi U-6 From Internal Claim of SIDDHI SEALS 54.25 Bellows 6.6 Kv (R&M) Sources Procurement of acid pump and Koradi U-6 From Internal Claim of SUJIT Engineering alkali pump alongwith Motor for 84.09 (R&M) Sources WTP-11, KTPS 10% Advance towards Ash Koradi U-6 From Internal Claims of The Indure Pvt. Ltd 8,848.28 Handling System Package (R&M) Sources Providing & applying of Rubber Koradi U-6 From Internal Claim of VARUNA Industries liling of DM Streams at WTP-11 378.73 (R&M) Sources Koradi Procurement of OM Inlet Pump Claim of WRT Sales & Koradi U-6 From Internal & Trabnsfer Pump for WTP at 273.55 Services Pvt Ltd (R&M) Sources KTPS, Koradi 210MW TOTAL 242,600.125 a n.=IJ~~lffii e) Partner M.No: 156108 Chief General Manager (Finance) ',. l l Maharashtra 0tate " Power Generation Co. Ltd. Prakashgad, Bandra (East), Mumbai - 400 051. '· MAHARAS HTRA STATE POWER GENERATION COMPANY LIMITED Name of the Project - EE R & M Schemes of Maharashtra State Power Generation Co. Ltd. Loan No. - 7687-IN / Grant No. - TF 094676 Schedules to the report - Reconciliation of Claims to Application of Fund for year ended 31.3.18 and futher upto 29.09.2018 Schedule IV Expenditure not claimed yet (Amt in '000) \. Name of Partv Particulars TPS Source Amount ~ ----- NIL ....__ TOTAL --------- ----- r-------..--... - For, M/s. J.S.Uberoi & Co., Chartered Accountants, FRN: 111107W .;-. _li<9. ~<>/~- .-----. ~ CA Manmohan Si Partn~r M.No. 156108 <4BO . .., t..lA,GPU * ,.. B.@nU ~ R · iJ Ir Chief Engineer (P&P) Chief Engineffi (P & P) A&ePGCl MUM8kl. 51 MQ ' Ch~ (Finance) Chief General Manager (Finance) Mal·,arasht:·a St.de Power Generation Co. Ltd . Place: Nagpur ~ Date: 20.01.201 ~....,, J Prakashgad, Bandra (East), ,'> Mumbai · 400 051. &red AcC0 Reconciliation for the year 2017-18 and upto 29.09.2018 (Rs. In '000) S.No. t; Particulars IBRD GEF Total Year to date Cummulatlve to date Year to date Cummulatlve to date Year to date Cummulatlve to date A AMOUNT OF REPORTED EXPENDITURE i Total project Expenditures as per PFS 1,426,379.90 3,962,408.09 314,689.27 777,658.97 1,741,069.17 4,740,067.06 ii Less: In-eligible expenditure 242,600.13 1,013,560.20 - - 242,600.13 1,013,560.20 iii Net project expenditure as per PFS (i-ii) 1,183,779.78 2,948,847.89 314,689.27 777,658.97 1,498,469.05 3,726,506.86 iv Net reimbursable from World BanK * 1,183,779.78 2,948,847.89 314,689.27 777,658.97 1,498,469.05 3,726,506.86 v Reimbursable expenditures as reported in IUFRs ** 1,183,779.78 2,948,847.89 314,689.27 777,658.97 1,498,469.05 3,726,506.86 B DIFFERENCE (iv-v) - - - - - - C AMOUNT OF WB FUNDS RECEIVED vi Total funds received from the Bank as per PFS 1,183,779.78 2,939,217.93 314,689.27 775,411.98 1,498,469.05 3,714,629.91 vii Total Funds disbursed as per the World Bank*** 1,183,779.78 2,939,217.93 314,689.27 775,411.98 1,498,469.05 3,7:J..4,629.91 D DIFFERENCE (vi-vii) - - - - - - E (EXCESS)/ SHORT CLAIM, if any (v-vii) - 9,629.96 - 2,246.99 - 11,876.95 Notes: * After application of Eligible% for IBRD/ GEF disbursement to 'Net project expenditure as per PFS'. ** The World Bank share as reported in the IUFRs submitted to the Bank *** Source: Applications for reimbursements (Client Connection). Application wiase detail should be shared by way of seprate note. **** Direct Payments made should be indicated seprately by way of a detailed note. For, M/s. J.S.Uberoi & Co. ~ CA Manmohan Sing Chief Gene~ er {Fiil ance) Chief Engineer (P&P) Partner MSPGCL MSPGCL M.No: 156108 Chief General Manager (Finance) Chief Engrne8' (P & P) Maharashtra State Power Generation Co. Ltd. MSPGCL, MUMBAI - 51 Place:- Nagpur Prakashgad, Bandra (East), Date:- 20.01.2019 Mnmbai - 400 051.