Section 19 in The Food Corporations Rules, 1965

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Union of India - Section

Section 19 in The Food Corporations Rules, 1965

19. [ Annual statement of accounts and balance sheet. [Substituted by Notification No. G.S.R. 1133(E), dated 2.12.2016 (w.e.f. 13.1.1965)]

(1)The annual statement of accounts containing balance sheet in Form 'A', statement of profit and loss, account in Form 'B' and cash flow statement in Form 'C' shall be prepared by the Corporation.

(2)The annual statement of accounts of the Corporation shall be prepared by following the mandatory accounting standards of the Institute of Chartered Accountants of India established under section 3 of the Chartered Accountants of India Act, 1949 (38 of 1949) and any deviation from such accounting standards shall be disclosed as per the provisions of schedule III of the Companies Act, 2013 (18 of 2013);]

19. [ Investment of funds in shares an securities] [Inserted vide notification No. GSR 156 dated 28.1.1966].- The Corporation may also invest its funds in the purchase of(i) Securities of the Central or any State Government;(ii) [ Shares of State-owned or state-aided undertakings engaged in the processing of foodgrains and other foodstuff and share of any other public or private undertakings, with the period approval of the Central Government.] [Inserted vide notification No. GSR 1576 dated 6.10.1966]

[Form A] [Substituted by Notification No. G.S.R. 1133(E), dated 2.12.2016 (w.e.f. 13.1.1965)](See rule 19)Balance Sheet as at 31st March(Rs. in Lakh)

SI. No.	Particulars	Note No.	Figures as at the end of current reporting period	Figures as at the end of previous reportingperiod
(1)	(2)	(3)	(4)	(5)
I.	Equity and Liabilities
A	Shareholders' funds(a) Share capital(b) Reserve and surplus(c) Money received against share warrants
B	Share application money pending allotment
C	Non-current liabilities(a) Long-term borrowings(b) Deferred tax liabilities (Net)(c) Other long term liabilities(d) Long term provisions
D	Current Liabilities(a) Short-term borrowings(b) Trade payables(c) Other current liabilities(d) Short-term provisions
	TOTAL (A + B + C + D)
II.	Assets
E	Non-current Assets
	(a) Fixed assets(i) Tangible assets(ii) Intangible assets(iii) Capital work-in-progress(iv) Intangible assets underDevelopment(b) Non-current investments(c) Deferred tax assets (net)(d) Long-term loans and advances(e) Other non-current assets
F	Current Assets
	(a) Current investments(b) Inventories(c) Trade receivables(d) Cash and cash equivalents(e) Short-term loans and advances(f) Other current assets
	Total (E + F)
	Significant accounting policies
	General Notes

[Form 'B'] [Substituted by Notification No. G.S.R. 1133(E), dated 2.12.2016 (w.e.f. 13.1.1965)](See rule 19(1))Statement of Profit and Loss Account for the year ended 31st March(Rs. in Lakh)

Sl. No.	Particulars	Note No.	Current Year	Previous Year
(1)	(2)	(3)	(4)	(5)
A.	Income
1.	Revenue
	(a) Sale	1
	(b) Subsidy on Foodgrains	2
	(c) Other Receipts	3
2.	Other Income	4
3.	Accretion/ (Decretion) in Inventories	5
	Total (A)
B.	Expenditure:
1.	Purchase	6
2.	Milling Charges
3.	Freight	7
4.	Storage Cost	8
5.	Handling Expenses	9
6.	Employees Remuneration and benefits Other expenses	10
7.	Depreciation and Amortisation on :
8.	(a) Fixed Assets
	(b) Intangible Assets
9.	Interest	11
10.	Income/(Expense) pertaining to prior Years (Net)	12
	Total (B)
11.	Excess of Income over Expenditure(A-B)

12.	Profit/(loss) before tax
	Less: provision for Tax
	(a) Current Tax
	(b) Deferred Tax
	(c) Tax pertaining to Earlier Years
13.	Profit after Tax/(Loss) carried down to profit and LossAppropriation Account
	Less: Transfer to Reserve Fund under section 33(1) of theFood Corporation's Act, 1964
	Less: Balance of Net profit transferred to Reserve Fund undersection 33(2) of the Food Corporation's Act, 1964
	carried to the Balance Sheet.

[Form 'C'] [Substituted by Notification No. G.S.R. 1133(E), dated 2.12.2016 (w.e.f. 13.1.1965)][See rule 19(1)]Cash Flow Statement for the year ended 31st March...(Rs. in Lakh)

Sl. No.	Particular	Current year	Previous year
(1)	(2)	(3)	(4)
I	Cash Flow From Operating Activities
	Net profit/(loss) before taxation
	Adjustments for:-
	Depreciation
	Amortisation
	Interest expense
	Debts written off
	Foreign exchange variance
	Deferred Revenue Expenditure written off
	Allowances for Bad and Doubtful Debt, Loans and Advances,Deposits and other Claim Receivable
	Loss/ (Profit) on sale of Asset
	Interest income
	Foreign exchange variance
	Operating profit before working capital changes in:-
	Reserve and Surplus
	Trade Payable
	Deposits Repayable
	Interest Payable
	Other Payable
	Long term loans and advances, Deposits and Other Claim
	Receivables
	Inventories
	Trade Receivable
	Short Terms Loans and Advances
	Sugar Price Equalisation Fund
	Miscellaneous Expenditure (To the extent not written off oradjusted)
	Advance Payment of Income Tax
	Net Cash generated from operating activities (A)
II	Cash Flow From Investing Activities:
	Sale of Fixed Assets
	Purchase of Fixed Assets
	Net Cash used in Investing activities (B)
III	Cash Flow From Financing Activities:
	Capital subscribed by Government of India(GOI)
	Long term borrowing through GOI
	Loans and advances from Banks
	Interest Expense
	Net cash used in financing activities (C)
IV	Net Increase in cash and cash equivalents (D) = (A+B+C)
	Add: Cash and cash equivalents at the beginning of the year.
V	Cash and cash equivalents at the end of the year.

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Union of India - Section

Section 19 in The Food Corporations Rules, 1965

19. [ Annual statement of accounts and balance sheet. [Substituted by Notification No. G.S.R. 1133(E), dated 2.12.2016 (w.e.f. 13.1.1965)]