Annual Report 2010-11

UU,U -}xyw
MECON LIMITED, RANCHI - 834002

QUALITY POLICY
TO FUNCTION
AS
CUSTOMER FOCUSSED
ORGANIZATION,
PROVIDING
GLOBALLY COMPETITIVE VALUE ADDED
CONSULTANCY, ENGINEERING,
TURN-KEY EXECUTION
AND
PROJECT MANAGEMENT SERVICES.
MECON LIMITED
BOARD OF DIRECTORS
SHRI A. K. GHOSH
Chairman-cum-Managing Director
SHRI K. K. MEHROTRA
Director (Engineering)
SHRI J. MATHEW
Director (Projects)
SHRI S. MACHENDRA NATHAN, IAS
Director
SHRI U. P. SINGH, IAS
Director
SHRI GANATANTRA OJHA
Director
SHRI MULKH RAJ PASRIJA
Director
SHRI B. RAMESH KUMAR
Director
PARTICULARS Page Noo.
BOARD OF DIRRECTOORS 66
DIRECTOR R R RS REPORT 7777
PARTI TICU C LARS WITH RESPECT TO TECHNOLOGY AB ABSO SORP RPTI TION ON 28
MA MMM NAGEMENT DISCUSSION & ANALYSI SI SI S S S SS RRRRREP EP EPOR OR ORRTTTT 33
REPORT ON CORRPO P RATE GOVER ERNA NANC NCEE 40
STATUTORYYYY AUD UD UD UDIT IT IT ITOR OR OR O S S SS RRRREP EP EP E OR OR OR ORT T TT FO FO FO FOR R R TH TH TH T E EE FINAN AN NCCIAAL AL AL YYYYEA EA EA EAR R RRR 20 20 2010 10---11 43
CCOMMMENTS S OOF F TH THEE CCOOMMPT PTRO ROLLER && AUDITOR OR GGEN ENER ERAL AL OOF F IIND NDIA 447
BA BA BALA LA A LANC NC NCCE E E SSSSHE HE HE HEET ET ET T AAAASS S S AT AT AT ATT 3 3331. 1. 1.03 03 03 2 .2 .201 01 01111 48
PPRO ROFI FIT T & & LOS OSS AACC CCOU OUNT NT FFOOR THE YEAR ENDEED 31 31.0 03. 3.2011 11 4499
CCCCAAAS A H FFFFLLLO L W WWW STAAAATE TE TEEMMEN NNNT T (((((IIIINND N IRECT ME METHOD D)) 55550
SSCH C ED EDUL U ES 5511
PPAR AR AR ART TIV IV VV OF V SSCH CH CHED EDDDUL ULL ULE E EE VI VI VI V ( ((BBALAAA L NC NC NCC NCE E EEE SSSHE E HEET ET EET AB AB ABST TRA RA RACT CT CT AAND ND NN
CCOOOOMMMMPA PA PA PANY NY NY NYS S GGGGEN EN E EERRAAAL B BUS USSSSIN IN I ES ES ESS SSS PPPRO RO RO RO R FFILE)))
66444
ACCOUUNTINNG G PPOL OLICCY Y AN AND D NOT TES ES TO O TH THE E AACC COUNTTSS 65
BUSINESS SEGMEN NT REPORT & NOTES THERETO 78
CONTENTS
38
TH
ANNUAL REPORT 2010-11
A HOUSE OF ENGI NEERI NG EXCELLENCE . . .AI MI NG BEYOND
6
B OAR D OF DI R E C T OR S

ChairmancumManaging Director
Shri L.R. Singh (upto 30.09.2010)
Shri A.K.Ghosh (w.e.f. 01.10.2010)
Directors
Shri A.K.Ghosh, Director (Commercial)
Shri K.K.Mehrotra, Director (Engineering)
Shri J.Mathew, Director (Projects) (w.e.f. 26.05.2010)
Shri U.P.Singh, IAS, Director
Shri S. Machendra Nathan, IAS, Director (w.e.f. 14.06.2010)
Shri G. Ojha, Director (w.e.f. 20.01.2011)
Shri M.K.Pasrija, Director (w.e.f. 25.01.2011)
Shri B. Ramesh Kumar, Director (w.e.f 31.01.2011)
Company Secretary
Ravi Bambha
General Manager (Finance)
Shri S. Chattopadhyay
Auditors
M/s N.K.D & Co.
Chartered Accountants,
2nd Floor, Radha Gouri
Goushala Chowk,
North Market, Upper Bazar,
Ranchi-834001(Jharkhand)
Bankers
State Bank of India
Union Bank of India
Indian Overseas Bank
IndusInd Bank
ICICI Bank
Axis Bank
HDFC Bank
Canara Bank
United Bank of India
Bank of India
38
TH
7
SESA Goa, a Vedahta Group Compahy
have placed an order on us for upgradation/
modernization of their existing MBF-1
from present volume of 173 m
3
to 290 m
3

useful volume with mihor modihcatioh
of existing civil foundation. All the basic
engineering work is completed and
detailed engineering work is likely to be
completed by June, 2011.
Usha Martih lhdustries, Jamshedpur has
placed an order on MECON for design,
engineering, consultancy & supply of
critical equipment for their hot stove
complex for their existing MBF-1. Basic
engineering for the complex is already
completed and remaining detailed
engineering is expected to be completed
by 15th June, 2011.
Major work like BF ahd stove fouhdatioh is
undergoing at site of SAIL/BSP for BF#8.
The progress of engineering & order
placement are on schedule.
JSW Steel Ltd. ehtrusted us for ihstallatioh
of yet another Blast Furnace of 4019 m
3

for their capacity expansion up to 10
Mtpa stage. The blast furnace technology
& critical proprietary equipment is
sourced from SVAl, UK ahd the balahce
engineering & consultancy services have
been provided by MECON. The blast
furnace is provided with state-of-the-
art design for campaign life of 15 years
8 more. Ehergy efhcieht waste heat
DIRECTORS REPORT FOR THE FINANCIAL YEAR 2010-2011
The Members,
Your Directors have the pleasure in presenting
38th Annual Report on the operations of the
Company and the Statements of Accounts for the
Financial Year ended on 31st March, 2011.
The Report of the Statutory Auditors and the
Comments on the Accounts of the Company by
the Comptroller and Auditor General of India are
annexed to this Report.
1.0 PERFORMANCE HIGHLIGHTS
It is heartening to note that your Company
has made all round improvement in its
performahce durihg the curreht hhahcial
year. In addition to substantial improvement
ih the hhahcial performahce, the Compahy
has booked large value orders during the
year. Major prestigious projects of national
importance completed / under progress
during the year include:
NMDC Limited, Hyderabad ehtrusted
MECON for the single largest consultancy
contract ever taken by MECON for setting-
up of a 3.0 Mtpa Integrated Steel Plant at
Nagarnar, Chhattisgarh. Order for 1 No.
460m
2
Sinter Plant has been placed and
site activities for site labeling, boundary
work & other infrastructure facilities are
going on.
262 m
3
Blast Furnace plant ordered by
SLR Metaliks is nearing completion and
is targeted for cold trial & commissioning
in third quarter of 2011. This Mini Blast
Furnace (MBF) will be a state-of-the-
art facility with latest cooling/refractory
system and Pulverised Coal Injection (PCI)
system and is expected to give a long
campaign life with high production rate.
262 m
3
Blast Furhace of Jihdal SAW is
at advanced stage of erection. This Mini
Blast Furnace (MBF) will be a state-of-the-
art facility with latest cooling/refractory
system and Pulverised Coal Injection (PCI)
system and is expected to give a long
campaign life with high production rate.
38
TH
8
recovery & pollution control equipment
such as top gas pressure recovery turbine
(TFT) ahd VVVF drives, bag hlter based
de-dusting system for cast house & stock
house, closed circuit water cooling, AGS
type gas cleaning system, etc. have been
envisaged. Pulverized coal injection
system upto 200 kg/thm is also envisaged
in the plant and the Blast Furnace
construction is in full swing. The cold trial
& commissioning activity of this giant BF
has started and the furnace is likely to be
blown-in by June 2011.
The erectioh work at SAlL/lSF, Burhpur
is in full swing for their 4060 m
3
Blast
Furnace Plant. All critical concreting
work, technological shell along with Top
equipments erection are completed. The
BF unit shall be ready for blown-in by end
of November, 2011. The sinter plant of
SAIL/ISP is ready for commissioning.
Cohcretihg work for all importaht
foundations of blast furnace proper,
stoves and dust catcher have been
completed for Blast Furnace#5 (4060 m
3
)
of SAIL/RSP, Rourkela. The blast furnace
shell erection is in progress. All major
orders for blast furnace package has been
placed. Erection work is in full swing. The
BF is scheduled for commissioning by
end of 2011.
Excavatioh work for 4019 m
3
Blast
Furnace foundation for Jindal Steel &
Power Ltd., Patratu has already started.
All major techhical specihcatiohs are
already issued.
1681 m
3
Blast Furnace plant of Bhushan
Steel Ltd. has been successfully
commissioned in May, 2010. This is a
state-of-art blast furnace. Two similar
BFs have already been commissioned
by MECON, ohe at JSW ahd ahother at
JSPL.
JAl Balaji had assighed us for detailed
engineering & consultancy services
for ductile iron pipe plant of 2,50,000
tpa capacity at their existing plant
premises in Durgapur. The plant has
been commissioned in April, 2010 and is
running at rated capacity.
With the commissiohihg of this plaht,
MECON has so far commissioned three
ductile iron pipe plants including Jindal
Saw at Bhuj and Tata Metaliks Ltd. at
Kharagpur.
Jihdal Steel 8 Fower Ltd. has ehtrusted us
with design, engineering & consultancy
services for a 1.5 Mtpa integrated steel
plant as part of Step-1 of Phase-I 6.0 Mtpa
of the project at Angul, Orissa based on
DR-EAF route. The plant utilizes synthesis
gas (syhgas) from coal gasiher, a hrst of
its kind in the world, for production of
sponge iron using time tested and proven
Kobe Steels Midrex technology. The coal
gasihcatioh techhology has beeh sourced
sponge iron using time tested and proven
Kobe Steels Midrex technology. The coal
ga g sihcatioh techhology gy has beeh sourced
38
TH
9
from Lurgi Sasol, South Africa. The plant
shall also utilize hot DRI for direct charging
into EAF using Aumunds inert gas sealed
metallic conveyor. The plant shall also
geherate about 10 MW power from high
pressure syngas using a turbo-expander
in the DR Plant. At present the plant
construction is in full swing at Angul site
and units will be commissioned shortly in
phased manner. JSPL has also decided
to go ahead with full implementation of
Phase-I of the project of 6.0 Mtpa capacity.
The basic 8 detailed ehgiheerihg of 1 x
360 m
2
Sinter Plant for SAIL/BSP, Bhilai
is in full swing. The engineering for the
sinter plant is scheduled to be completed
in February, 2012. The erection work
has started at site and 926 nos. of piling
has been completed in sinter machine
& cooler area. Concreting work has also
started and 690 m
3
of concreting has been
completed.
The ehgiheerihg activities for 1 x 360 m
2

Sinter Plant of SAIL/RSP, Rourkela have
been completed. The erection works is
also nearing completion. The plant is
expected to be ready for commissioning
by June, 2011.
The 2 x 204 m
2
Sinter Plant of SAIL/ISP,
Burnpur for which detailed engineering
& consultancy services are being
provided by MECON is scheduled to
be commissioned shortly. The erection
activities have been completed and PAT/
PAC activities are nearing completion.
Detailed ehgiheerihg activities for 1 x 90
m
2
Sinter Plant of Monnet Ispat Ltd. is in
full swing. Civil & structural drawings for
all major uhits have beeh issued. Vehdor
drawing approval is in progress. Erection
works at site is also in advanced stage.
Detailed ehgiheerihg 8 cohsultahcy
services for 3.85 Mtpa Pellet Plant at
Bhushan Steel Ltd., Rengali is under
progress. Techhical specihcatioh for lohg
delivery items has been issued. Structural
& civil foundation drawings of pelletising
building have been issued to site for
erection. Engineering for indurating
building is in progress.
The draft Detailed Froject Feport (DFF)
for the proposed 4.0 Mtpa Pellet Plant at
Bolani ore mines of SAIL/RMD has been
submitted. Presently discussions are
going on with SAIL/RMD and the report is
uhder hhalizatioh.
services for 1.2 Mtpa Pellet Plant near
Hospet for MSPL Ltd. has been completed
successfully. Iron ore grinding circuit and
hltratioh circuit were commissiohed oh
27.02.2011 ahd hlter cake produced was
stored ih the emergehcy hlter cake storage
area. The Balance circuit from concentrate
to pellet making was commissioned on
20.03.2011.
JSW Ltd., Torahagallu ehtrusted MECON
for expansion of steel making capacity
from 7.0 Mtpa to 10 Mtpa. The facilities
comprising of 2x175T BOF, 2x175T LF, 2x1
strand slab caster and other associated
facilities have been commissioned
between December 2010 to March
2011. MECONs services for the project
has been commended by the client and
the plant has now gone into commercial
production at full capacity.
services for 1.6 Mtpa capacity Hot Strip
Mill for JSL, Duburi, Orissa has been
successfully commissioned. The product
mix comprises of hot rolled coils of 1.6mm
to 12.7mm thickness of 200,300 and 400
grade series stainless steel.
services for Pellet Plant Complex at Jajpur
Road for Brahmani River Pellets Ltd.,
has gone into trial run and is about to be
commissioned.
38
TH
10
lhstallatioh of Fig Castihg Machihe (FCM)
at BF Unit of KIOCL Ltd., Mangalore has
been successfully completed.
Cohsultahcy services for implemehtatioh
of DCS Stage-l (3x210 MW)-TS-ll for
Neyveli Lignite Corporation Ltd., has been
successfully completed and the system is
commissioned.
The re-built Coke Oveh Battery No. 10 of
SAIL/ISP, Burnpur has been successfully
commissioned by us on 13th August
2010. Your company had provided
the complete design, engineering and
consultancy alongwith project monitoring
services for the project.
The re-built Coke Oveh Battery No. 1 of
SAIL/BSL, Bokaro is under heating-up and
is expected to be commissioned in June
2011. The project is being executed by us
on EPC basis.
Fe-buildihg of Coke Oveh Battery No. 2 at
SAIL/BSL, Bokaro is under execution and
will be commissiohed ih curreht hhahcial
year. We are executihg the project oh
EPC basis.
New Coke Oveh Battery No. 6 at SAlL/
RSP, Rourkela is under execution and
will be commissiohed ih curreht hhahcial
year. MECON is executing the project on
EPC basis.
Fehovatioh ahd Moderhizatioh of
Jaldhaka Hydroelectric Project Stage-I
3x9 MW ih Darjeelihg for West Behgal
State Electricity Distribution Co. Ltd.
has been completed and commissioned
successfully and synchronized with the
grid and loaded upto full capacity (Unit-
2 on 31st July 2010 and Unit-3 on 11th
March 2011).
Your Company has been steadily progressing
ih the diversihed held of Oil 8 Gas ahd has
been providing Project Management &
Consultancy Services to various PSUs, Joint
Vehture compahies as well as private sector
clients in the area of Natural Gas Pipeline
networks, CNG & City Gas Projects, storage
terminals for petroleum products and
commercialization of Coal Bed Methane. The
major assignments carried out during the
year are :
Successfully charged ahd commissiohed
10 x 60 km LPG Pipeline from IOCL
Kandla to Samakhiali for GAIL including
commissioning of terminals with pumping
facilities.
Successfully charged ahd commissiohed
12 x 8 Km Last Mile connectivity to
Reliance Terminal for GAIL.
Successfully completed TEFF for
12/18/20 x 450 Km Iron Ore Slurry
Pipeline for NMDC, Hyderabad.
Site cohstructioh activity of 16" x 64 Km,
8 x 16 Km & 24 x 84 Km Natural Gas
Pipeline from Saharanpur to Haridwar &
Ludhiana to Jallandhar has started.
Site cohstructioh activity for 18" x 70
Km Natural Gas pipeline from Mehsana
Palanpur for GSPL, Gandhinagar has
started.
Site cohstructioh activity of 30"/18" x
30 Km Natural Gas pipeline from Kochi-
Koottanad-Bangalore-Mangalore Pipeline
(PH-I) along a very challenging alignment
has commenced.
38
TH
11
Site cohstructioh activity for 12" x 100
Km Natural Gas pipeline from Karanpur-
Muradabad and Kashipur-Rudrapur
Pipeline has commenced.
Site cohstructioh activity of 8" x 15 Km
(2 nos. parallel) product pipeline from
Bahadurgarh- Tikrikalam for HPCL has
commenced.
Erectioh activity of HFSG Froject at
Vaghodia for GAlL has commehced.
Prepared and submitted FRs/DFRs for CNG &
CGD Projects for various cities and clients as
follows:
City Gas Distributioh Networks for
Jallandhar & Ludhiana for BPCL, Mumbai
Up-datioh of DFF for Jamhagar
Geographical Area (GA) for GAIL Gas Ltd.
City Gas Distributioh Networks for
Ernakulam District for BPCL, Mumbai.
Khammam, Nalgohda ahd Fahgareddy-
Medak GAs for APGIC Hyderabad.
Your Company is also providing services
to the Defence Sector. Some of the major
defence projects completed / under progress
are:
Ehgiheerihg for Fhase-l activities for
modernization of Central Ordnance
Depot, Agra for Ministry of Defence, Govt.
of India has been completed successfully.
Major orders for Phase-I have been placed
and construction is under progress.
Engineering for Phase-II is in progress.
Ehgiheerihg for Fhase-l activities for
modernization of Central Ordnance Depot,
Jabalpur for Ministry of Defence, Govt. of
India has been completed successfully.
Major orders for Phase-I have been placed
and construction is under progress.
Engineering for Phase-II is in progress.
Draft Detailed Froject Feport for
modernization of 5 nos. Regional
Ordnance Depots for DGOS, Ministry of
Defence (Army), New Delhi have been
prepared and submitted.
Your Company is serving a large number
of clients in the Public and Private Sector.
Some of the major clients in Public Sector
ihclude NMDC, SAlL, VSF, KlOCL, VFT, GAlL,
lOCL, BFCL, FNGFB, MFFL, TVNL, WBSEB,
WBFDCL, WBSEDCL, CMWSSB, HFCL, UClL,
HPGCL, CPCB, KPCL, HCL, HZL, KPT, GGL, IGL,
TNGCL, DVC, MSTC, NTFC, NMFT, lDCOL,
IREL, BARC, besides Ministry of Power,
Govt. of India, the State Electricity Boards in
Jharkhahd, West Behgal, Delhi, Chhatisgarh,
Rajasthan, Tamil Nadu, Uttaranchal, Uttar
Fradesh etc. BFFL, ESSAF, JSWL, JSL, BlL,
BGL, MNGL, IL&FS, ADANI, RLUL, MSPL,
IIL, ESSAR, SLR, etc. are some of the major
clients in the private sector. In addition to
above some of the major clients to whom we
have been rendering our services during this
year include, STEMCOR, SAIL-MOIL, UML,
L&T, SESA GOA, SAIL-POSCO, AHDUNIK,
TML, NINL, OMCL, OMDC, JSPL, BHUSHAN
Group, UGSL, BMM, NALCO, BPSCL, NLC,
etc. The Company is also providing services
for Defence Sector and Dept. of Science &
Technology.
Your Company has a unique opportunity
of executing a number of prestigious
assignments in the Steel Sector, which is
accepted as traditional core competence
area of the Company. In order to capitalize
on this opportunity, technologically oriented
turnkey projects are the need of the day
for your company. Your clients expect the
Company to contribute immensely in the
national steel building capacity in the next 5
to 10 years. Power is another potential area
wherein your company can play a major
role. Oil & gas is also a potential sector for
your company.
38
TH
12
2.0 BUSINESS DIVERSIFICATION
In view of the cyclic demand / investments in
the Steel Sector over the past several years,
your Compahy has diversihed ihto several
sectors of the economy especially Oil & Gas,
Power and Infrastructure. This has been
achieved by formation of distinct Strategic
Business Units in the Company.
The Company has gained substantial
experience and recognition in some of these
sectors and would like to build a strong
portfolio of services to meet the growing
demand of Clients. This would also help the
Company in adjusting to the sectoral market
uctuatiohs by alighihg itself towards the
sectors having higher opportunities in future.
Durihg this hscal year, cohsultahcy busihess
procurement from the metal sector have been
sighihcaht. lh Ehgiheerihg ahd Cohsultahcy,
the Companys order booking is 12.85%
(previous year 66.06%) in the non-metal
sectors and 87.15% (previous year 33.94%)
in metal sector. In case of supply / turnkey
projects, it is 94.19% in the non-metal sectors
and 5.81% in metal sector.
3.0 MANAGEMENT INITIATIVES
Management has taken various initiatives to
comply with the requirement of the changing
market scenario. The strategic business units
in the area of metals, oil and gas, power and
infrastructure have helped the company
to spread its wihgs ih the various helds.
Management is putting emphasis to focus on
cliehts ahd their project specihc requiremeht,
signing of MOUs / Agreement on technology
& business promotion with reputed foreign
companies for synergizing mutual strengths
and addressing the present market needs,
consortium working philosophy with leading
foreign and Indian Companies / institutions,
entering into strategic alliances, multi-skilling
of personnel for productivity improvement,
enterprise wide networking for e-working,
online work item allocation, online job
card hllihg, e-archives, project progress
monitoring, shared resources, access to
ASTM, IS and other standards online, use
of latest softwares for planning, designing
and execution, etc. were few such major
endeavors to cope-up with the business
environmental changes as well as meeting
unique requirement of present day clients.
Such initiatives have not only inculcated
cohhdehce amohg the ehgiheers but also oh
the clients project team.
Business Procured (Supply)
Sectorwise Business
Procured (Consultancy)
Metal Power
Oil & Gas Infrastructure
Business Procured (Consultancy)
38
TH
13
4.0 MOU WITH MINISTRY OF STEEL ON
PERFORMANCE
Like in the previous years, your Company
has signed an MOU with Ministry of Steel for
the Financial Year 2011-2012. The Company
achieved excellent rating in the year (2009-
10) and is likely to maintain the trend in 2010-
11 also.

ISO - 9001:2008 Certication
MECON is the hrst cohsultahcy orgahizatioh
in the country to be accredited with ISO-9001
Certihcatioh. This certihcatioh for Cohsultahcy,
Design & Engineering, Procurement of
Plant & Equipment, Construction & Project
Management Services and Execution of
Turnkey Projects was valid till January 2011.
The re-certihcatioh audit by TUV, lhdia (oh
behalf of TUV, Germahy) has beeh completed
successfully in the month of December 2010.
TUV Germahy has sihce issued a fresh lSO-
9001:2008 Certihcatioh valid upto Jahuary'
2012. Vigilahce fuhctioh of the Compahy has
also received lSO-9001:2008 certihcatioh
valid upto November, 2012.
5.0 INDIAN ASSIGNMENTS
Your company has procured following major
work orders during 2010-11:
Metals Sector
NMDC Limited, Hyderabad ehtrusted
MECON for the single largest consultancy
contract ever taken by MECON for setting-
up of a 3.0 Mtpa Integrated Steel Plant
at Nagarnar, Chhattisgarh. MECON is
providing complete design, engineering
& consultancy services for this ambitious
Greehheld project which ihcludes
procurement services, basic engineering,
detailed engineering, designers
supervision, inspection, assistance during
commissioning and other general services.
Detailed ehgiheerihg ahd cohsultahcy 8
site supervision services for 3
rd
Converter
& 4
th
Caster of FlNL/Visakhapatham Steel
Flaht, Visakhaptaham.
Detailed ehgiheerihg ahd cohsultahcy
services for 6.0 Mtpa Behehciatioh Flaht
and 3.85 Mtpa Pellet Plant at Rengali for
Bhushan Power & Steel Ltd., Kolkata.
services for 2.0 Mtpa Pellet Plant at
Rajnandgaon for Stemcor India Pvt. Ltd.,
Bhubaneswar.
services for Ferro Alloy Plant at Nandini,
Bhilai for SAIL-MOIL Ferro Alloy Pvt. Ltd.
Supply of critical items for Hot Blast Stove
of Blast Furnace # 1 of Usha Martin Ltd.,
Jamshedpur.
Owhers' Ehgiheerihg services for 5 Mtpa
Crushing and Screening Plant alongwith
a Behehciatioh Flaht for Ahdhra Fradesh
Iron Ore Co. Ltd.
services for Material Handling System for
1.5 Mtpa Steel Plant at Raigarh for Monnet
Ispat & Energy Ltd.
Freparatioh of Feport for Compoheht
Digestion and Residual Life Assessment
of all SAIL Plants for SAIL, New Delhi.
38
TH
14
Lehders' lhdepehdeht Ehgiheer services
for L&T Special Steels and Heavy Forgings
Ltd. for L&T Infrastructure Finance
Company Ltd., Mumbai.
services for 157 m
3
Blast Furnace for Sesa
Goa Ltd.
Cohsultahcy services for Motor Driveh
Blower at Power & Blowing Station for
SAIL/Bhilai Steel Plant, Bhilai.
services for Enhancement & De-
bottlenecking of the existing MBF of 215
m
3
W.V. for Tata Metaliks Ltd., Kharagpur.
Cohsultahcy services for Modihcatioh
(CAFEX Works) ih 1.0 Mtpa Steel Flaht for
JSW Steel Ltd., Salem Works.
Freparatioh of Detailed Froject Feport for
Integrated Steel Plant in Bokaro for SAIL-
FOSCO JV.
Freparatioh of TEFF ahd ElA/EMF report
for 3.0 Mtpa Fellet Flaht 8 Behehciatioh
Plant for Adhunik Metaliks Ltd.
Cohsultahcy services for modihcatioh
in the existing Secondary De-dusting
System under 1.0 Mtpa Steel Plant for
JSW Steel Ltd., Salem Works.
Tehder Appraisal Feport for Selectioh
of Technology Supplier for Coke Oven
Complex at Raigarh for Monnet Ispat and
Energy Ltd.
Selectioh of Techhology Supplier for
2.0-2.5 Mtpa Coke Oven with CDQ & By-
Product Plant for Jindal Steel & Power
Ltd., Angul
Cohsultahcy services for Hot Stove
Complex for Blast Furnace-1 for Usha
Martin Ltd., Jamshedpur.
Power Sector
Cohsultahcy services for 1 x 250 MW
Power Project at Bithnok, Rajasthan for
Neyveli Lignite Corporation, Tamilnadu.
services for Surplus Gas based Thermal
Power Plant at Jindal Steel & Power Ltd.,
Patratu.
Cohsultahcy services for preparatioh of
Bid Documents & other Allied Services
as Advisor cum Consultant for R-APDRP
(Part-B) work for 52 Towns under
WBSEDCL, Kolkata.
Detailed Project Report & other Allied
Services for 18 Towns under R-APDRP
Scheme for WBSEDCL, Kolkata.
Detailed Project Report & other Allied
Services as Advisor cum Consultant
under R-APDRP Scheme for 39 Towns for
WBSEDCL, Kolkata.
services for 2nd Phase Expansion of SPP
of NALCO, Damanjodi.
Detailed Project Report & Other Allied
Services under R-APDRP Scheme for 5
Towhs for WBSEDCL, Kolkata.
services for 2 x 120 MW Captive Fower
Plant for NALCO, Angul.
Cohsultahcy services for Additiohal Coal
Handling Plant for NALCO, Angul.
Oil & Gas Sector
Desigh, ehgiheerihg 8 supply of Behzol
Recovery and Distillation Plant (Phase-
ll) for FlNL/Visakhapatham Steel Flaht,
Visakhapatham.
Civil ehgiheerihg 8 erectioh of Behzol
Recovery and Distillation Plant (Phase-
ll) for FlNL/Visakhapatham Steel Flaht,
Visakhapatham.
38
TH
15
Froject mahagemeht 8 cohsultahcy
services for BNPL spurlines for (a)
Saharanpur - Haridwar - Dehradun /
Rishikesh Section (16x60 Km, 8x90 Km)
(b) Ludhiana - Jalandhar Section (24x80
Km) for GAIL, New Delhi.
services for Addl. Tankage, Tank Truck
Loading Bays and Infrastructure for
Mahgalore Fehheries 8 Fetrochemicals
Ltd., Mangalore.
Freparatioh of Detailed Feasibility Feport
for developing a state wide Natural Gas
Pipeline Network in Andhra Pradesh for
APGIC, Hyderabad.
services for various Expansion Projects
in and around Agartala City for Tripura
Natural Gas Co. Ltd., Agartala.
services for LFG Fump at Vijayawada for
GAIL, New Delhi.
Ehgiheerihg 8 project mahagemeht
consultancy services for CGD Network
Frojects at Hyderabad 8 Vijayawada for
Bhagyanagar Gas Ltd., Hyderabad.
Freparatioh of Detailed Feasibility Feport
for CGD Networks at Jallandhar & Ludhiana
for Bharat Petroleum Corporation Ltd.,
Mumbai.

Infrastructure Sector / Other Engineering
services for Material Handling System and
Port Handling Facility for Multipurpose
Terminal at Dahej for Adani Petronet, Dahej.
Freparatioh of Bahkable Techho-
Economic Feasibility Report for
Behehciatioh Flaht ahd Slurry Fipelihe for
NMDC Ltd., Hyderabad.
Freparatioh of Detailed Froject Feport
for Modernisation of 5 nos. Regional
Ordnance Depots for DGOS, Ministry of
Defence (Army), New Delhi.
Cohsultahcy services for Ehvirohmehtal
Monitoring for different Mines of Orissa
Mining Corporation Ltd., Bhubaneswar.
Freparatioh of Ehvirohmehtal Assessmeht
Report for FBR 1 & 2 Project for Bhartiya
Nabhikiya Vidyut Nigam Ltd.
Cohsultahcy services for regular
monitoring of 5 Clusters Mines of Orissa
Mining Corporation Ltd.
Freparatioh of ElA/EMF report for
expansion of Bellary Plant from 10 Mtpa
to 16 Mtpa for JSW Steel Flaht, Karhataka.
6.0 FOREIGN ASSIGNMENTS
Various overseas assighmehts bagged by
your company are highlighted below:
Fre-bid ehgiheerihg services for Slurry
Pipeline Project in Morocco for Dodsal
E&C Pte. Ltd., Dubai, UAE.
Freparatioh of Techho-ecohomic
Feasibility Report for 1.7 Mtpa Steel Plant
with Mihihg 8 Behehciatioh Facility for
Jindal Steel, Bolivia.
Freparatioh of study report for Techhical
38
TH
16
Audit of Sparkwest Steel, Nigeria for
Oceanic Bank, Nigeria.
Freparatioh of market survey report for
Alloy & Special Steel Flat Products in India
for Ruukki Metals, Rautaruuki, Finland.
Cohsultahcy services for pumpihg
150,000 m
3
/day of desalinated water
from Desalination Plant at Mocha to Taiz
in Yemen, for a distance of 100 Kms for
Frimex Gulf Co. (LLC), Dubai, UAE.
Large Diameter Pipe Project for Logitrade
Engineering Ltd., Nigeria.
Lime Plant for Logitrade Engineering Ltd.,
Nigeria.
7.0 FINANCIAL RESULTS
(` In Lakhs)
2010-11 2009-10
7.1 Paid-up Capital 10,313.84 10,313.84
7.2 Reserves and Surplus
(Including revaluation
reserve)
12,424.86 3,447.11
7.3 Turnover 64,137.96 60,477.53
7.4 Froht before Tax 14,092.80 12,469.44
The Reserve & Surplus as on 31st March, 2011 re-
presents revaluation reserve and committed reserve.
8.0 DIVIDEND
This year your Directors have recommended
payment of Preference Dividend of `315.00 Lakhs.
8.1 Cumulative Dividend & Tax Paid
Your company which had paid up capital of
`10,313.84 lakhs (previous year `10,313.84
lakhs) including Bonus Shares worth `40.31
lakhs, has paid cumulative dividend including
tax (Equity & Preference) of `1,722.88 lakhs
till 2009-10 and has made a provision of
`366.10 lakhs towards Preference Dividend
including dividend tax thereon in 2010-11.
The cumulative income tax to the exchequer
amounting to `16,638.42 lakhs has been paid/
provided till 2010-11.
9.0 EARNING PER EMPLOYEE
Operating Turnover per employee per year is
as follows:
10.0 FUTURE BUSINESS VISION
Your company accepts Engineering
Consultancy & Project Management
Consultancy (PMC) services as the thrust
area of business procurement and therefore
is concentrating to procure and execute
more jobs of this nature. The Company has
laid emphasis for procurement of business
in the different sectors of operation in this
area. Business procurement in the area of
38
TH
17
engineering consultancy & PMC services
was ` 125.62 Crores in previous year and
`559.01 Crores durihg this hhahcial year. lh
supply / turnkey projects it is ` 113.63 Crores
during this year. Your company has decided
to effectively utilize the costly man-hours for
high value jobs and outsource the low return
areas.
11.0 RESEARCH & DEVELOPMENT
Most people associate with the research and
development (R&D) function of a company
with the ihvehtioh of hew products. Whilst
this is very important, the development of
existihg products is of equal sighihcahce
because consumer preferences are
continually changing. The task of product
research and development is to come up with
the goods and services that meet the needs
of tomorrows customers.
R & D activities at MECON are carefully
planned to ensure that your company
maintains its competitive advantage.
Presently experimental R&D is being carried
out in Steel Sector. In recent years your
company is mostly engaged in R & D work
sponsored by different Government Bodies -
Ministry of Defence, Department of Science
and Technology, Ministry of Environment
and Forests, Ministry of Steel etc. in their
idehtihed thrust areas.
Projects Completed
3D Modeling and Numerical Simulation of
Heat Transfer of Thermoelectric Cooling /
Heating Helmet.
A 3D geometry representing the actual
thermoelectric cooling / heating helmet
created by using modeling software. This
deals with the performance prediction and
analysis of a thermoelectric cooling system
through Computational Fluid Dynamics (CFD).
The system is divided into two parts namely
cold side and hot side of thermoelectric
module (TEC). The cold side components
are blower, divergent duct, cold plate and
convergent duct whereas the hot side
components are Aluminium block, heat pipe,
hhs ahd fah. Two differeht desighs for cold
plate are considered. The cold side analysis
is performed through CFD and hot side
calculation is based on empirical formulae. A
comparative study of performance of these
designs is carried out for different types of
blowers and hot side fan combinations for
three different TEC modules, which predicts
that it is possible to get desired cooling.
On-line Monitoring of Flue Gas(es) A
Simulation Experiment
This project is concerned with the monitoring
of the emissions of air pollutants into the
atmosphere from industrial processes as
per the Environment (Protection) Rules 1986
(Seventh amendment) dated 16.11.2009
relating to :
* human health effects of pollutants
* potential damage to other aspects of the
environment (for example acid rain and
ozone generation with their consequent
effects)
* amenity issues (for example black smoke
or visibility degradation) and
* global issues such as climate change.
In this project, the basic system is designed
for mohitorihg of up to four ue gases usihg
NDIR technique. The main components in
this system are Infrared, IR, source, gas cell,
wavelehgth hlters ahd ihfrared detectors. The
ue gas is drawh through the gas cell ahd gas
concentration is measured electro optically by
its absorptioh of a specihc wavelehgth ih the
infrared region. The modulated IR is directed
through the gas cell towards the detector.
The detectors have respective optical hlters
in front of them that eliminates all light except
that the selected gas molecules can absorb.
38
TH
18
The signals from the detectors are measured
before and after the absorption of particular
gas and the concentration of each gas is
measured using Beer-Lamberts law.
In the absence of actual IR source and
detectors, emulators are designed and
fabricated. User friendly software is
developed for calibrating and monitoring the
different gas concentrations.
On-going Projects
Development of Thermoelectrically cooled /
heated helmet for industrial applications.
Project was sanctioned by SDF, Ministry of
Steel. The objective of this development
project is to provide comfort to Industrial
workers by providing head cooling when
working at elevated temperature zone.
Out of the total eleven activities for the project,
the hrst four activities have beeh completed
as per schedule. The following three activities
viz. Desigh of detailed layout, hhalizatioh of
specihcatioh ahd compohehts, procuremeht/
manufacturing action are in progress. The
remaining four activities of assembly, testing
ahd held trial of the system will be cohducted
after procurement. In brief the work is going
on satisfactorily as per schedule.
As per the statutory requirement, the quarterly
progress reports for the hrst, secohd ahd
third quarters along with fund utilization
certihcates have beeh seht to the mihistry.
Project Proposal Submitted
Development of Continuous Multi Gas
Monitor submitted to SDF, Ministry of
Steel, Govt. of India.
As desired by BSP, SAIL, Bhilai, proposal has
been submitted to SDF, Ministry of Steel on
September 2009. The objective of this project
is to develop multigas monitoring system
i.e. CO, CO2, NOx & SO2 using a single unit
as these emissions are more harmful to the
environment and society. This type of system
has got more utility in Steel plants and all
industries in general.
Infrared Camera Based Ladle condition
Monitoring submitted to SDF, Ministry of
Steel, Govt. of India.
Ladle breakout causes major accidents in
steel plants leads to equipment damage and
production loss apart from loss of human life.
The wear out of the inner refractory lining is
the main cause of the ladle breakout. Ladle
surface temperature is the reliable indicator
of the condition of the inner refractory lining.
The present project aims for automatic
detection of hot spots in the ladle with the
help of infused camera and vision algorithm.
Development of On-line Ozone Monitoring
System submitted to Ministry of
Environment and Forests, Govt. of India.
Ozone is one of the important air pollutants
at ground level ambient air and is contributed
by the interaction of Hydrocarbons, Nitric
Oxides and sunlight.
The Notihcatioh for cohtrol of Air Follutioh,
issued by MOEF in November 2009, requires
ozone monitoring, which is present in 100 g/
m
3
range. At present the ozone monitoring
equipment available in the market are
imported and are prohibitively costly.
R&D Division of MECON is requested by
Bhilai Steel Plant (BSP), SAIL to develop an on
line (continuous) ozone monitor in Ambient
Air which is portable, based oh either UV
spectroscopy or chemiluminescence.
38
TH
19
12.0 CONSERVATION OF ENERGY &
TECHNOLOGY ABSORPTION
12.1 Conservation of Energy
Coal, as energy source for ironmaking,
steelmaking and power generation is the
biggest concern of Indian Steel Industry. This
is a problem that will become more acute
in the years ahead. It has been projected
that there will be substantial growth in the
production of steel in the years to come in
India. This will result in greater dependency
on imported coal.

The steel industry is the single largest
industrial energy consumer, accounting
for about 4% of the worlds energy
consumption.
A number of energy saving measures /
technologies have been suggested by MECON
to various steel plants in India to save energy,
resulting in saving in production cost.
The energy saving measures / technologies in
various areas of steel production, suggested
are indicated below.
A. Coke making :
Coke dry quehchihg (CDO) techhology
Fecovery of the sehsible heat of coke
oven gas (COG)
Coke moisture cohtrol
B. Sinter making :
Sihter cooler exhaust gas waste heat
recovery
Sihter bed depth ihcrease (optimizatioh)
Adoptioh of variable speed drive for
exhaust fan
C. Ironmaking (through conventional blast
furnace route) :
Heat recovery from waste gas of stoves
Cold blast maih ihsulatioh
lhjectioh of auxiliary fuels ih blast furhace.
Top recovery turbihes (TFT)
D. Steelmaking and continuous casting :
Fecovery of sehsible heat of BOF gas
Utilizatioh of primary vessel (BOF / EAF)
only as melting unit and carrying out
rehhihg operatioh ih secohdary rehhihg
units
Adoptioh of cohtihuous castihg ih place
of ingot casting
Adoptioh of thih slab castihg techhology
alohg with tuhhel furhace ahd hhishihg
stand of hot strip mill
E. Rolling :
Hot chargihg of cohtihuously cast
products
Ehdless rollihg
F. Electrical :
Use of compehsatihg equipmeht
(Capacitor Bahk 8 SVC) oh primary
distribution system.
Use of ehergy efhcieht lamps (CFL, T-5) ih
ongoing projects.
Use of ehergy efhcieht exhauster drives
(LCI drives) in Sinter Plant.
Apart from the above, there are some
other energy saving technologies also in
38
TH
20
steelmaking, casting and rolling mills area.
MECON have taken into consideration the
energy saving technologies, mentioned
above, during design of various steel
plants, based on the technology available
and the prevailing practices.
12.2 TECHNOLOGY ABSORPTION
The detailed information on technology
absorption as per Form-B under the
Companies Disclosure of Particulars and
Rules, 1988 is enclosed at Annexure-I to this
Report.
13.0 FOREIGN EXCHANGE EARNINGS AND
OUTGO
Your Company has earned ` 618.08 lakhs
Foreign Exchange during the year 2010-
11. The expenditure in Foreign Exchange
remitted/actually spent during the year was
` 284.42 lakhs as per details given below:
Particulars (` in Lakhs)
Engineering Fee 111.71
Other matters (purchase of
equipment, components
foreign supervisory
services, capital goods etc.)
172.71
Total 284.42
14.0 HUMAN RESOURCE DEVELOPMENT
In todays knowledge-based business
scenario, the competitiveness of the
organizations cannot be better explained than
by its capability to treasure an ever growing
and competent workforce. MECON being an
Ehgiheerihg Cohsultahcy ahd a cohuehce
of various streams of engineering and other
techhical helds heeds a cohtihuous ehdeavor
to keep its knowledge domain abreast with
the latest technology, software and skill. To
keep our competitive edge intact, we provide
the appropriate training to all our employees
based on the training need analysis of the
individual.
HRD Division achieved the following training
hgures as compared to the target set for the
year 2010-11:
Man days of training : Target: 1190
Achieved : 1755 (in Excellent Category)
Employees imparted training during April
2010 to March 2011:
Technology Related : 562
Skill-related : 815
Soft Skill-related : 378 (Behavior & Managerial
Related)
Key activities undertaken by HRD Division in
the year 2010-11 are mentioned below :
Diversihed exterhal as well as ihterhal
training programs were organized in
addition to the Orientation program
for Management Trainees 2010.
Internal training programs like
Business Negotiation, Communication
& Presentation Skills, etc. provided
the requisite managerial input to our
employees. Technical programs like
STAAD Pro, Stru CAD, etc. helped in
updating the skills of our knowledge
workers. Training program focused on
38
TH
21
Work-life balahce was cohducted for ah
appreciable number of batches of non-
executive employees of MECON, Ranchi.
On the external training front, programs
on GRIHA- Green Building concept,
Ultrasonic Testing (UT) for Level - 1&2 &
Radio Testing (RT)for Level - 1&2 , Design
of RCC structures- specially Chimneys, etc
were organized to keep up with the latest
technology.
Some of the topics covered in In-house and External
Trainings are as follows:
In-house Programmes :
- Business Negotiation Skill
- Advanced STAAD Pro
- Stru CADD
- Internal Quality Auditing and Awareness
course on ISO 9001:2008 QMS
- Inspection Activities
- Work-life Balahce
- Auto CAD
- Communication & Presentation Skills
- Yog Vigyah Shivir
- HlV AlDS Awarehess
- Methodology for preparing TEFR
- Contract Management
External Programmes :
- Power System Scada and EMS
- Analysis & Design of Tall RCC Structures
with Special Emphasis on Chimney &
Natural Draft and Cooling Tower
- Construction Risk Management
- Solar Power
- Grouhd Water Mahagemeht 8 Faih Water
Harvestihg ahd Artihcial Fecharge
- Level -1 Training Course on Mi-Power
Software
- Heat Recovery Steam Generators
- Super Critical Boiler Design
- Transportation and Storage of Coal Ash
- Advances in Concrete Technology
- Design, Construction and Maintenance of
Roads & Highways
- Training on RT Level II
- Training on UT Level II
- Non- Destructive Testing & Evaluation
(NDE - 2010)
Our web-based framework for lihkihg
the traihihg heed, idehtihed through
Competency Mapping System (CMS) with
our Training Processing/Approval System
is now fully functional and even Delhi
ahd Bahgalore ofhces are also usihg the
latest system for approval and updation of
training data.
Uhder the roof of Khowledge Mahagemeht
System (KMS) in MECON, revamping of
the Knowledge Management Committee
and re-formulation of Knowledge
Management Communities took place.
Demonstration session was conducted
to connect more employees with our
knowledge repository in the e-archive
38
TH
22
system. The fruits of the efforts are visible
through revitalized rate of document
upload in Ranchi. The number of
documents in the e-archive system has
crossed the count of 42000.
Our ehdeavour to promote khowledge
sharing through a Quarterly Publication
named KM Bulletin has proved to be
successful. We have so far released 9
editions of the bulletin during the Financial
Year 2010-11 which are available online at
MECON Infocentre for employees.
The core part of our KM Bulletih, 'KM
Article Writihg Competitioh' has covered
various areas of MECONs activities. It is
an article writing competition among our
own employees, where they try to share
the experience and expertise gained by
MECON in particular section/sector. The
6th competition is in progress.
15.0 PERSONNEL & WELFARE
Employee strength of MECON at the end
of the year i.e., as on 31.03.2011was 1823
(including 34 Nos. MT(T)s under training as
per Apprentices (Amendment) Act, 1973 &
1986) as against last years strength of 1913.
Out of the total strength of 1823, 309 belong
to SC and 185 belong to ST categories.
16.0 INDUSTRIAL RELATIONS
Your Company focused on employee
relationship and all employee related matters
were addressed leading to greater satisfaction
of the employees. The work atmosphere
remained healthy and harmonious and
this helped the Company to achieve better
productivity. The Company continued to
have peaceful and cordial relations with
the employees and most of the issues were
settled through interactions and dialogue
with the representatives of Non-Executive
and Executive employees. Liaison with
other associated external agencies was also
maintained cordially.
17.0 ACTIVITIES / STEPS TAKEN FOR
THE WELFARE OF SC / STs IN THE
COMPANY
In addition to its corporate and business
objectives, the Company is fully aware of
its social responsibilities for development
and welfare of members of Scheduled Caste/
Scheduled Tribes Communities. The strength
and number of SC/ST candidates presently
employed in MECON are indicated below :
Category
Group
Manpower
as on
31.3.2011
No. of
SC
No. of
ST
% age
of SC
% age
of ST
A 1620 265 116 16.35 7.16
B 58 13 14 22.41 24.13
C 107 20 40 18.69 37.38
D
(excluding
safai worker)
32 8 14 25.00 43.75
D
(safai worker)
6 3 1 50.00 16.66
Total 1823 309 185 16.95 10.15
The Company has adopted adequate
measures for safeguarding their interests
and welfare, such as promotion as per
general trend, proper regard for human
rights, equality and impartiality in all
spheres of activities and providing abundant
38
TH
23
opportunities for self development through
sports, cultural, educational and recreational
facilities. Scheduled Caste/Scheduled Tribe
employees and their families residing in
Shyamali Township enjoy all the facilities
available to others.
In order to implement the Government of
India Directives and Post-based Rosters with
regard to recruitment and promotion of SCs/
STs, an SC/ST Cell has been formed with
Geheral Mahager (F8A) as Liaisoh Ofhcer. The
SC/ST Cell maintains proper record regarding
recruitment and promotion and statistics of
SC/ST employees and furnishes reports to the
Ministry of Steel on regular basis.
The Company has made consistent efforts
to accommodate SC/ST candidates in
all recruitments in MECON as well as in
promotion to the next higher grade as per
Government Directive.
18.0 CORPORATE SOCIAL RESPONSIBILITY
(CSR)
MECON is engaged in rural/community
development activities in the nearby
surroundings since 60s. In the year
1976, a dedicated group was formed
and named Community Development
Committee (CDC) and were assigned to
look after the activities of Corporate Social
Responsibility. Now, from 2010 onwards,
the CSR activities are carried out by a
separate department namely CSR Cell
and supported by other employees (CDC
committee members) on part-time basis/
as per the requirement. The CSR activities
have gone up considerably is the F.Y.
2010-11 as compared to F.Y. 2009-10.
The major developmental activities carried
out by MECON in the year 2010-11 are as
follows :
1. Under the Community education
scheme, free education was provided
to the under privileged poor children at
thirteen (13) primary education centers,
which are running in the slum areas/
backward areas/rural areas in Ranchi and
Khunti districts.
As per the requirement, these educational
centers were regularly provided with
study materials such as books, exercise
copies, pencils, erasers, black boards,
charts, chalks etc.
In addition, the poor children were
also provided with uniforms as well as
sweaters during winter season.
2. Under the Resource generation scheme,
seven (7) stitching training centers are
running in slum areas/backward areas in
and around Ranchi.
Training was imparted to the women
in stitching. At the end of the year
examihatioh was cohducted 8 certihcates
were distributed to 106 trainees.
Assistance was also provided towards
marketing of their products.
3. MECON is ruhhihg a Vocatiohal Traihihg
lhstitute (VTl), for providihg techhical/
professional education to the poor &
rural youth, who are not able to persue
higher studies. The ihstitute is afhliated
to National Institute of Open Schooling
(NIOS), New Delhi.
38
TH
24
Fresehtly, the ihstitute offers hve types
of course viz. Fadio 8 TV techhiciah,
Electrical techhiciah, Weldihg techhology,
Computer Applications and Yoga.
In the previous session (2010), a total of
twenty three (23) students in different
trades were admitted. Students appeared
for their hhal examihatioh ih the mohth
of Nov-Dec2010 and 12 students were
declared successful. In the current session
(2011), there are a total of twenty one (21)
students in different trades. The classes
have started in the month of Jan2011.
4. Under the Community health
programme, the followings areas were
covered,
General health/medicine camps (In and
around Ranchi and nearby villages &
Khunti district) 10 nos. Around 1,980
patients were covered.
HlV/AlDS awarehess program (lh ahd
around Ranchi and nearby villages
& Khunti district) 7 nos. A total of
around 320 persons participated in the
programme.
Mass inoculation of children under
Pulse Polio program
5. MECON provided techhical 8 hhahcial
assistance to St. Michaels School for the
Blind, Old Hazaribagh Road, Ranchi for
construction of a 26 bedded boys hostel.
6. Under the afforestation programme, about
975 saplings of mango, guava, litchi,
sapota, amla etc. were procured from
Horticulture & Agro Forestry Research
Programme (HARP), Palandu, Ranchi and
distributed to the villagers of tribal villages
Vil.-Fupru, Dist.-Fahchi 8 Vil.-Fai, Dist.-
Khunti.
7. MECON provided training to thirty (30)
village youths of the tribal villages Vil.-
Fai, Dist.-Khuhti 8 Vil.-Fupru, Dist.-Fahchi
in Lac cultivation at Indian Institute of
Natural Resin and Gum, Namkum, Ranchi.
For promotion of sports & games, the
village youths of Vil.-Fai, Dist.-Khuhti 8
Vil.-Fupru, Dist.-Fahchi were provided
with sports & games items.
In addition, MECON organized Rural
football tournaments in the tribal villages
Vil.-Fupru, Block-Ahgara, Dist.-Fahchi 8
Vil.-Chelahgi, Dist.-Khuhti. lh additioh,
a Rural hockey tournament was also
orgahized ih Vil.-Belagara, Marahghada,
Dist.-Khunti. Prizes were distributed
to winner as well as runner-up team
members.
8. MECON is providing water tankers for
supply of drinking water in remote areas
wherever the scarcity of water is acute,
in association with Ranchi Municipal
Corporation, Ranchi.
9. Rain water harvesting scheme was
launched at Sri Aurobindo Society,
Doranda, Ranchi.
10. Other CSR/welfare activities:
Social welfare grant/aid to Ispat
Karmachari Sahakari Upbhokta
Bhandar Ltd. A Co-operative Stores
(IKSUB Ltd.), Shyamali, Doranda,
38
TH
25
Ranchi for infrastructure development
& honorarium/wage.
Social welfare grant/aid to Ispat
Club, Shyamali, Doranda, Ranchi
for infrastructure development &
honorarium/wage.
Social welfare grant/aid to Jawaharlal
Nehru Kala Kendra, Shyamali,
Doranda, Ranchi for infrastructure
development & honorarium/wage.
Grant/aid to Jharkhand Social
Revolution & Development Society
(JSRDS) AADYA for setting up soap
mahufacturihg uhit at Vil.-Fatra Toli,
Balalong, Dist.-Ranchi.
For the 34th National Games, which
was held in Ranchi, MECON carried
out the beautihcatioh work of road,
divider, lamp post etc. from Karpoori
Thakur Chowk, Hinoo, Ranchi to
Rajendra Prassad Chowk, Doranda,
Ranchi and the roundabout of Shri
Vivekahahd Chowk.
19.0 OFFICIAL LANGUAGE POLICY (USE OF
RAJBHASHA)
Efforts by way of Training of Personnel in
Hindi and organising workshop & seminar to
ehcourage use of Hihdi ih Ofhcial work have
been undertaken and conducive atmosphere
has been created to spur use of Hindi in
Ofhcial work at Head Ofhce ahd other ofhces
of MECON.
Hindi Pakhawara was observed in MECON
at Head Ofhce as well as ih all site ofhces of
the company from 01.09.2010 to 14.09.2010.
On the occasion all employees took pledge
to increase use of Hindi in their day to day
ofhcial work. Durihg the Hihdi Fakhawara"
competitions of various nature were also
orgahised at Head Ofhce ahd other ofhces of
the Company. These include Essay, Noting/
Letter writing, Slogan, Extempore Speech,
Quiz, Debate and Poetry Recital Competitions.
A special Hindi workshop on the subject
Karyalayin Kam-Kaj Me Rajbhasha Hindi Ka
Frayog" ahd a hve day cohdehsed Trahslatioh
training programme in association with Govt.
of lhdia, Mihistry of Home, Deptt. Of Ofhcial
Language was also organized during 26-30th
July, 2010 in which over 50 participants were
given practical training in translation work.
The Farliamehtary Committee oh Ofhcial
Language (Third Sub-Committee) of the Govt.
of India, inspected the progressive use of
Hindi in the company on 19th January,2011
and held important discussions with the
Chairman-Cum-Managing Director and
Sehior Ofhcials of the Compahy to promote
use of Ofhcial Lahguage ih your Compahy.
Two nos. of Rajbhasha symposiums on
Computer per Hindi Me Kam Karne Kee
Chuhoutiyah" ahd Visva Bhashah Ke Fup
Me Hindi Ka Bhawisya were also organized
by your Company. In addition, a Hindi House
Magazine MECON BHARATI, which
provides platform for employees for creative
writihg ih techhical helds ih Hihdi is beihg
published regularly.
38
TH
26
20.0 VIGILANCE
The Vigilahce set-up of the Compahy is at
present independently functioning under
CVO, SAlL 8 MECON who is statiohed at
Delhi. Part time Executive Director is reporting
to CVO regardihg all vigilahce matters of
MECON. ED (Vigilahce) is assisted by Sectioh
lhcharge (Vigilahce) ahd the Vigilahce
Departmeht. Vigilahce activities at Fegiohal/
Site Ofhces are beihg looked after by Fart-
time Vigilahce Ofhcers who are lookihg after
vigilance matters in addition to the normal
duties allotted to them.
Emphasis is laid on preventive vigilance,
spreading awareness, surveillance and
analysis of system & procedures in detail
to ensure optimum utilization of resources,
appropriate & timely decisions, corrective
action against defaulters and transparency
and accountability in the system. A number
of suggestiohs giveh by Vigilahce for systems
improvement and curbing of wasteful
expenditures have already been implemented
and this process is continuing.
Surprise and routine checks are conducted
regularly to detect loopholes in the
system for irregularities. Complaints are
investigated promptly. Corrective measures
for administrative reforms and system
improvements are suggested. Sensitive
areas have beeh idehtihed for job rotatioh
which is being effected continually without
hamperihg the work. Various steps are beihg
taken on phase-wise basis for leveraging of
technology to increase transparency.
Your Company is pleased to inform
that Vigilahce Departmeht has its owh
Vigilahce Ouality Mahual ahd follows well-
established Quality Management System.
lSO 9001:2008 Accreditatioh from TUV
Nord India Pvt. Ltd. has been obtained by
the Vigilahce Departmeht which is valid till
26.11.2012.
MoU was signed between MECON and M/s
Transparency International India (TI) on
24.09.2007 for implementation of Integrity
Pact (IP) System. Till date MECON has
signed IP with 24 suppliers / contractors for
order value more than ` 5 crores which is
the threshold value. No problem / complaint
has been faced / received by MECON in the
implementation of Integrity Pact.
Vigilahce Awarehess Feriod was observed
from 25th October to 1st November 2010 at
Head Ofhce Fahchi alohg with Towh Admh. 8
Construction Department and Ispat Hospital
ahd at all Fegiohal / Site ofhces of MECON.
Talks, lectures, debates and interactive
sessions on various vigilance aspects
were orgahized throughout the Vigilahce
Awareness Period at Ranchi and other
ofhces ih which more thah 200 employees
participated. The various aspects covered
were - Role of vigilance and its need in
MECON ; Vigilahce aspects ih hhahcial /
commercial practices ; Technology A
tool for eradication of corruption ; Open
tehderihg system A weapoh to hght
against corruption and Preventive vigilance
& MIS.
21.0 BOARD OF DIRECTORS
Shri J.Mathew, Executive Director, has
been appointed as Director (Projects) w.e.f.
26.05.2010.
Shri S. Machendra Nathan, IAS, AS&FA,
Govt. of India, Ministry of Steel, has been
appointed as Part- time Government Director
on 14.06.2010.
Shri L.R.Singh, Chairman-cum-Managing
Director retired from the service of
the Company on attaining the age of
superannuation in the afternoon of
30.09.2010.
38
TH
27
Shri A.K.Ghosh, Director (Commercial) took
over the charge of Chairman-cum-Managing
Director from the retiring CMD on 30.09.2010.
Shri Ganatantra Ojha was appointed as Part-
time hoh-ofhcial Director by the Govt. of
India, Ministry of Steel on 12.01.2011and he
assumed charge on 20.01.2011.
Shri Mulkh Raj Pasrija was appointed as Part-
time hoh-ofhcial Director by the Govt. of
Shri B.Ramesh Kumar was appointed as
Fart-time hoh-ofhcial Director by the Govt. of
22.0 MANAGEMENT DISCUSSION &
ANALYSIS REPORT
The Management Discussion & Analysis
Report covering the performance and outlook
of the Company is enclosed vide Annexure-II.
23.0 CORPORATE GOVERNANCE
The company has complied with the
requirements of Corporate Governance. The
detail in this regard forming part of this report
is enclosed vide Annexure-III.
24.0 AUDITORS
M/s. N.K.D.&Co., Chartered Accountants,
Ranchi were appointed as Statutory Auditors
by the Comptroller & Auditor General of India
to audit the accounts of the Company for
the hhahcial year 2010-2011. They have also
been appointed as Auditors for carrying out
the audit under Section 44AB of the Income
Tax Act, 1961 for the year 2010-2011.
25.0 DIRECTORS RESPONSIBILITY
STATEMENT
Pursuant to the requirement under Section
217 (2AA) of the Companies Act, 1956
with respect to Directors Responsibility
Statemeht, it is hereby cohhrmed that:
i) In the preparation of the Annual Accounts
for the hhahcial year ehded 31st
March, 2011, the applicable accounting
standards had been followed alongwith
proper explanation relating to material
departures;
ii) The Directors had selected such
accounting policies and applied them
consistently and made judgments and
estimates that were reasonable and
prudent so as to give a true and fair view
of the state of affairs of the Company at
the ehd of the hhahcial year ahd of the
proht or loss of the Compahy for the year
under review;
iii) The Directors had taken proper and
sufhcieht care for the maihtehahce
of adequate accounting records in
accordance with the provisions of the
Companies Act, 1956 for safeguarding the
assets of the Company and for preventing
and detecting fraud and other irregularities
to the best of knowledge and abilities;
iv) The Directors had prepared the accounts
for the hhahcial year 31st March, 2011 oh
a 'goihg cohcerh' basis.
26.0 ACKNOWLEDGEMENT
Your Directors are pleased to place on record
their appreciation of the contribution of all
concerned towards the successful working of
the Company during the year. The Directors
also express their sincere and grateful
thanks to the Companys trusted clients,
suppliers, sub-contractors and other partners
& stakeholders in business for enabling it
to perform up-to the expectations of the
customers. The Company is also grateful for the
assistance provided to it from time to time by
the Ministry of Steel, Government of India and
various other Ministries, Govt. of Jharkhand
and Departments of the Central and State
Governments and Indian Embassies abroad.
For and on behalf of the
Board of Directors of
MECON LIMITED

(A. K. Ghosh)
Chairman-cum-Managing Director
Place : Ranchi
Date : 27.06.2011
38
TH
28
ANNEXURE TO DIRECTORS REPORT FOR THE YEAR 2010-2011
TECHNOLOGY lNNOVATlON
ANNEXURE - I
Form-B
Form for disclosure of particulars with respect to technology innovation .
Sl.
No.
Technology Benets derived
1. Basic design and complete know-
how for installation of coke oven
batteries (4.5m and 5 m high) from
concept to commissioning.
MECON designed coke oven batteries are already
in operation at SAIL/RSP, DSP, ISP & BSL. SAIL/
BSL Battery Nos. 1 &2 and SAIL/DSP Battery No.
2 are under implementation.
2. 7m tall 41.6 m
3
ovens. Battery No.9 & 10 at SAIL/BSP and Batteries No.
1,2,3 84 of VSF ahd ahother Battery at NlNL,
Duburi are under operation. One more battery
No.6 is under implementation at SAIL/RSP.
3. High Pressure Ammonical Liquor
Absorption System for coke oven
batteries.
MECON designed plant is under operation at
SAIL,NINL,RINL and the plant meets stringent
pollution control norms. The systems are fully
commercialized at SAIL/RSP Battery No.1 & 4,
SAIL/BSL Battery No.5 and NINL Battery No.1.
SAlL/lSF Battery No. 10 ahd VSF's Battery No.4
are operating quite well. Similar system is under
implementation at BSLs Battery No.1 & 2, DSP
Battery No.2 and RSP Battery No.6.
4. Water sealed AF Caps for pollutioh
control.
MECON designed water sealed AP caps for
pollution control is successfully functioning at
Battery No.1 & 5 at RSP, Battery No.5 at BSL, NINL
Battery No.1. ahd at VSF's Battery No.4. Similar
system is implemented at RSP Battery No. 4 & ISP
Battery No.10 and is also being implemented at
BSL Battery No. 1 & 2 , DSP Battery No.2 and RSP
Battery No. 6.
5. Laser Based Positioning System for
alignment of Coke Oven Service
Machine.
Patented vide Patent No.184585 in
the year 2001.
This is an import substitution product and had
given MECON an edge over others regarding
turnkey supply of coke oven batteries. This has
a very good market as stand alone unit also.
Two uhits were ihstalled at SAlL/FSF 8 VSF
respectively.
6. Laser Line Projection System
Patented vide Patent No. 198129 in
the year 2006.
Laser Line Projection System to align long sheet/
plate inside trimming machine is developed and
two such systems were supplied to SAIL/BSP.
38
TH
29
Sl.
No.
7. Optical Setting Device for alignment
of Entry Roller Guides.
the year 1995.
This is an import substitution product. This
equipmeht has beeh supplied to TlSCO 8 VSF.
8. Optical Setting Projector for
alighmeht of hhishihg mill guides.
This is an import substitution product. This
equipmeht was ehgiheered ahd supplied to VSF.
9. Thermoelectric Cold-chain Chest
Operated by 12V DC Vehicular
Battery.
the year 2006
Thermoelectric Cold-chain Chests developed by
MECON are suitable for use in medical and health-
care programmes for storing and/or transporting
medicine, drugs, vaccines, serum, semen and
diagnostic materials for urban as well as rural
areas.
10. Solid State Microclimate Conditioning
Unit for Defence Personnel.
the year 2005.
Solid State Microclimate Conditioning Unit
developed by MECON provides powerful solutions
to the problems presented by demanding thermal
conditions i.e. CFC free, highly reliable and easily
maintainable. This system is having a good market
potential.
11. Development of confocal microscope
for biological applications.
Because of the fast development in biotechnology,
confocal microscope possesses excellent market
potential. This pilot project for technology
demonstration was sponsored by DST and was
successfully completed in time. The project
completion report was submitted to DST.
12. Development of continuous
monitoring system to monitor
concentration of dust from stacks
using the principle of opacity
monitoring.
Fateht Applicatioh hled ih December,
2006, Vide Applicatioh No. 1394/
KOL/2006.
Continuous monitoring of stacks is becoming
essential as directed by Central Pollution Control
Board (CPCB) in their publication Corporate
Responsibilities for Environmental Protection.
MECON desighed, developed ahd held tested
opacity monitor as per CPCB guidelines.
13. Heating Gloves and Socks for
Defehce Fersohhel Workihg at very
low temperature.
Important development for Defence personnel
working at sub-zero environment. Having good
market potential in Defence Sector.
38
TH
30
Sl.
No.
14. Development of BF design for
technology upgradation/ capacity
enhancement in MBF section.
This development work has been very aggressively
adopted by the industry. SESA Goa who were
operating a 173 m
3
BF has placed order on MECON
for construction of a state of the art 260m
3
W.V.
BF utilizing its existing foundation & associated
infrastructure.
Many clients have shown keen interest in adopting
this developmental work.
15. Hot Blast Stoves for M/s Usha Martin
for their existing MBF at Tatanagar
The stoves design being provided by MECON
has pipe in pipe ceramic burner for achieving
HBT up to 1100
o
C with suitable fuel including
critical supplies such as checker support system,
technological valves & refractory bricks for dome
& ceramic burner.
16. Development and implementation of
slag detection system from converter
and caster.
(Fateht applicatioh hled vide
Application No. 1247/KOL/2009).
Based on the principle of emissivity difference
between liquid steel and slag, infrared camera
based slag detection system for caster is
developed and based on the vibration difference
betweeh owihg steel ahd slag, the slag detectioh
system for caster is developed. The project is
sponsored by Ministry of Steel and is completed
successfully.
17. Thermoelectrically heated oil hlter
for automobiles in cold region.
(Fateht applicatioh hled vide
Application No. 1429/KOL/2007)
Using thermoelectrics in conjunction with a thermal
storage device is mainly to overcome cold starting
problem in automobiles arising due to extremely
low temperature. Thermal storage device acts
like a heat reservoir and thermoelectyric modules
acting as heat pumps extract heat from the
thermal storage device ahd pump it to the hlter
thereby enabling quick starting of the automobiles
in cold environments. It has been experimentally
proved that an automobile can be started within
100 seconds using proposed device.
38
TH
31
Sl.
No.
18. Development of Continuous NOx
Monitoring System.
Fateht hled ih 2009, Vide Applicatioh
No. 1248/KOL/2009
The main objective of the project was to
indigenously develop continuous NOx monitoring
system usihg NDlF prihciple ahd to held test the
system in a running stack. It was tested in three
locations i.e. Coke Oven Battery No. 10, Power
Plant No. 1 and Plate mill area of Bhilai Steel Plant
SAIL Bhilai. Monitoring of Oxides of nitrogen in the
ue gas is essehtial to mohitor ahd cohtrol as the
emission are very harmful to the environment and
to the society. The system will help steel plants
and all industries in general. The development
work is under patenting.
19. Modern Quenching System Modern quenching system is implemented at
RSP COB No.4 and ISP COB No. 10. The system
comprises top & bottom quenching of coke in
order to control the moisture content of BF coke.
It also controls emission of solid particles with
quenching vapor.
20. Waste heat recovery system ih Sihter
Flaht No.1 8 2 of VSF, FlNL
The technology is being provided by JP Steel
Plantech, Japan and we are rendering detailed
engineering and consultancy services.
Through this waste heat recovery system,
sensible heat from coolers shall be utilized to
geherate stable power of 20.6 MW through boiler
and turbine generator. It is also environment
friendly with reduced dust emission resulting in
an effective c-credit equivalent to 117,000 t-CO2/y.
21. Basic process and mechanical design
for manufacture and installation of
gas pre-cooler for coke oven gas.
MECON has carried out complete process and
mechanical design for manufacture of gas pre-
cooler to cool oven gas from 85
0
to 23-25
0
C.
MECON designed gas pre-cooler installed under
Coke Oven Battery No.4 project is operating
successfully at RSP.
22. Basic process and mechanical design
of decanter.
MECON designed decanter with capacity of 380m
3

is working successfully at RSP installed under COB
No.4 project. The high capacity decanter can take
load of high amount of tar and liquor generated in
batteries with HPLA system.
38
TH
32
Sl.
No.
23. Benzol Recovery & Distillation Plant
at VSF.
MECON designed Benzol Recovery & Distillation
Plant to process 60,000-66,000 NM
3
/hr of coke
oveh gas is uhder cohstructioh at VSF. This will
enable extraction of crude benzol from coke oven
gas which is a valuable chemical.
24. 3D Modeling and Numerical
Simulation of Heat Transfer of
Thermoelectric Cooling/Heating
Helmet.
This theoretical simulation will help us in design,
development and manufacturing of hardware of
full system.
25. Development for Caster Slag
Detection through Imaging
Technique.
This simulation study will help us to design and
develop a simple imaging technique based slag
detection system for caster.
26. On-Line Monitoring of Flue Gas(es). This simulation study will help us to develop
complete system of on-line monitoring of four
gases simultaneously using NDIR principle.
27. Development of Thermoelectrically
cooled / heated helmet for industrial
applications.
Project was sanctioned from SDF, Ministry of
Steel.
The objective of this developmental project is to
provide comfort to Industrial workers by providing
head cooling when they work at hot zone.
38
TH
33
1.0 INTRODUCTION
MECON has effectively handled the
congenital role and has over the years,
developed core competency in providing
engineering services to Iron & Steel Industry.
As the business prospect in services industry
is directly proportional to the investments
in respective sector, the assumption of
immunity from the cyclical nature of parent
sector shall lead to a major fallacy. The brunt
endured during 1998-99 to 2003-04 owing
to downturn in Iron & Steel Industry bears
testimony to the statement.
The company has since then taken a number
of steps for speedy recovery and to eschew
the probability of any precarious de ja vu.
The compahy has diversihed its activities ih
the areas of non-ferrous, chemical plants,
Oil & Gas, Power Plants, Ports & materials
handling, Roads & Bridges and Development
of Residential Townships. The operations
have been organized under four SBUs viz
Metals, Oil & Gas, Power and Infrastructure
for efhcieht executioh of projects. The
vindication lies in the form of revenues from
the diversihed sectors ehablihg the compahy
to fend for itself during the downturn of Iron
& Steel Sector.
The company is looking forward to tap the
opportunities unleashed by the manifold
investment plans upcoming for the steel
ahd other diversihed sectors coihcidihg with
the companys line of business. Endeavor
is towards big stride to strengthen the
capabilities ih the diversihed areas while
stepping up the engineering prowess to
maintain core competency in Iron & Steel
Sector.
2.0 COMPANY MISSION
To develop into an internationally
recognized centre of excellence for
providing quality services in technical
consultancy, design & engineering, design
& supply of plant, equipment & systems and
project implementation from concept to
ANNEXURE-II
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
commissioning for industrial development
& upgradation ventures, development of
infrastructure and other service sectors.
3.0 SWOT
Strengths
Experiehce ih settihg up of projects
ih greeh / browh helds from cohcept
to commissioning on single point
responsibility basis.
Cohsultahcy, desigh ahd detailed
engineering capabilities.
Multi-disciplihary highly experiehced ahd
capable pool of engineers / technologists
in various specialized technical disciplines.
Vast data base ahd referehce materials.
Capability ih equipmeht 8 system desigh
and supply & execution.
Market recoghitioh ih core competehce
area of Metals.
Weaknesses
Will take time to cohsolidate strehgth ih
new strategic businesses.
Opportunities
Major ihvestmehts ih iroh 8 steel sector.
lhvestmehts ih diversihed sectors.
Tie-ups with other vehdors / cohtractors
for synergizing mutual strengths.
Greater cohcerh ih the couhtry for
environment and ecology.
Threats
Mushroomihg of small cohsultahcy hrms.
Trehd of settihg up ih-house cohsultahcy
outhts by cliehts.
Strihgeht hhahcial pre-qualihcatioh
criteria.
Stress for cohsortium biddihg alohg with
foreign partner in lead.
Cyclic hature of busihess ih the Metals
sector.
38
TH
34
4.0 BUSINESS OUTLOOK
General Economic Environment
The world economic recovery continues.
As a result IMF growth forecasts are nearly
unchanged since the January 2011. IMFs
World Ecohomic Outlook summarized the
following : the world economy expected to
grow at about 4.5% a year in both 2011 and
2012, but with advanced economies growing
at only 2.5% while emerging and developing
economies grow at a much higher 6.5%. In
advanced economies, the decreasing share
of oil, the disappearance of wage indexation,
ahd the ahchorihg of ihatioh expectatiohs
all combine to suggest there will be only
small effects oh growth ahd core ihatioh.
The challenge will be stronger however in
emerging and developing economies, where
the consumption share of food and fuel is
larger and the credibility of monetary policy is
ofteh weaker. lhatioh may well be higher for
some time but, forecasts suggest no major
adverse effect on growth. However, risks to
the recovery from additional disruptions to oil
supply are a concern. The recovery, however,
remains unbalanced. In most advanced
economies, output is still far below potential.
Strong growth prospects and relatively high
yields are attractihg ows ihto emergihg
markets. Sluggish activity and damaged
hhahcial systems cohtihue to depress ows
between advanced economies. Developing
Asia is expected to grow by 8.4% a year in
2011 and 2012. China is likely to grow by
9.65% in 2011 and 9.5% in 2012. Indias
growth prospects are 8.2% and 7.8% in 2011
and 2012. Commodity prices have quickly
returned to high levels, owing to structural
as well as cyclical and special factors, and
market pressures remain elevated. The key
structural change is rapid growth in emerging
and developing economies, which has lifted
and changed the pattern of commodity
consumption. At the same time, supply
responses have been slow, with production
running into sharply higher marginal costs.
The key cyclical factor was stronger than-
expected growth in demand for commodities
during the second half of 2010, which drove
up oil prices for 2011 to about $90 a barrel
1. Industrial growth measured by the growth Index Number of
Industrial Production (INIP), base 1993-94.
by early January 2011, up from the $83
a barrel expected in April 2010. Special
factors include the Organization of Petroleum
Exporting Countries (OPECs) lower than-
expected output response when prices rose
above $70$80, a price range previously
declared to be fair, which increased market
concern about supply. Another special factor
has been unrest in the Middle East and North
Africa since January 2011. For food, the main
special factor was weather-related supply
shocks.
Indian Economy
After facing the downward impact of
economic meltdown during 2008-09, the
Indian economy is on the recovery path.
Indian economy achieved a real growth
of 7.2% in 2009-10 compared to 6.8% in
2008-09. Over the past three years (2007-08
through 2009-10), the real growth of Indian
economy was 6.9% per annum. The growth
rate of 7.2% in 2009-10 has been due to good
growth performance of mining & quarrying,
manufacturing, electricity gas and water
supply, construction and the service sector.
The forecast growth rate for 2011-12, made
by the Economic Advisory Council of the
Prime Minister, is 7.5%. Industrial growth
1
has
been respectable in the recent years except
for 2008 -09 where strong effect of economic
melt-down was visible. During 2007-08, 2008-
09 and 2009-10 the growth were 8.6%, 3.2%
ahd 10.5 respectively. Withih ihdustry, the
manufacturing sector, accounting for 77%
of ihdustrial output, has showh sighihcaht
growth acceleration in the recent past except
for the bad year of 2008-09. During 2007-08,
2008-09 and 2009-10, manufacturing sector
grew by 9.2%, 3.3% and 10.9% respectively.
Among the manufacturing sector, basic metal
and alloy sector grew by 12.1% in 2007-08
and its growth sharply fell to 4.0% in 2008-09.
During 2009-10, its growth rose to 6.5%.
Moreover, Government of India has given
special thrust on the infrastructure sector
in the 12th Five Year Plan and hence, huge
investment plans are expected in sectors like
38
TH
35
power, roads, railways, ports, civil aviation,
telecommunications, irrigation, drinking
water, sanitation, storage, and warehousing.
This will help in achieving a robust and
inclusive growth in future.
The Companys business procurement and
turnover registered phenomenal growth in
recent past. However, due to world wide
slowdown in economy and its adverse
impact on the steel sector, the Companys
business procurement also declined in 2009-
10. The world economy in general and Indian
economy in particular is on recovery path.
As Indian economy bounced back in 2009-10
and this trend is likely to continue in future
with caution.
5.0. INTERNAL CONTROL SYSTEM AND
ADEQUACY THEREOF
MECON LIMITED not only has a proper and
adequate system of internal control and proper
documented procedure encompassing all
hhahcial ahd operatihg fuhctiohs but also
a history and tradition bequeathed since
inception.
These have been planned to provide
reasonable accuracy for maintenance of
proper accounting and adequate control to
monitor and to govern the companys fund,
to optimize internal resources for increasing
operatiohal efhciehcy, to secure assets from
unauthorized use and to ascertain reliance on
hhahcial ahd all other operatiohal ihformatioh.
The compahy has uhdertakeh uhihed uhtirihg
team effort to achieve the best possible state-
of-the art system.
Salient facets of the internal control systems
are :
Well dehhed delegatioh of power with
sanctioning limits for purchasing of
capital items and approving of revenue
expenditure.
Well framed policies oh capital asset
procurement.
Well plahhed budget for revehue
expenditure and continuous monitoring.
Feriodical meetihg at all fuhctiohal levels
and also at corporate level for reviewing
and achieving the targeted results.
BUSINESS PROCUREMENT
Total ` in Crore
Sl.
No.
SBU 2008-09 2009-10 2010-11 2011-12 *
Consultancy EPC Consultancy EPC Consultancy EPC Consultancy EPC
1. Metal 406.09 393.96 42.63 Nil 487.18 6.60 265 250
2. Power 42.47 54.53 18.55 Nil 31.11 Nil 30 Nil
3. Oil & Gas 56.01 Nil 46.95 Nil 19.46 107.03 40 Nil
4. Infrastructure 15.86 Nil 17.49 Nil 21.26 Nil 15 Nil
Total (`) 520.43 448.49 125.62 Nil 559.01 113.63 350.00 250.00
Grand Total (`) 968.92 125.62 672.64 600.00
* Projected/ Estimated
38
TH
36
With implemehtatioh of ohlihe ihformatioh
system starting from raising of invoices
to collection of money, the entire system
has been made more effective in terms of
furnishing factual information in shortest
possible time.
Well dehhed plah to ihvest surplus fuhd most
judicially and reporting thereof to the Apex
management regularly.
The company has an extensive
programme of carrying out internal
audits, management and financial reviews
to ensure greater efficiency, transparency
and accountability.
6.0 DISCUSSION ON FINANCIAL
PERFORMANCE WITH RESPECT TO
OPERATIONAL PERFORMANCE
During the Financial Year 2010-11, MECON
LIMITED achieved the best ever Turnover
at `64,137.96 lakhs. Turnover from
Consultancy Jobs increased to `42,323.38
lakhs, mainly due to substantial increase in
consultancy order execution for different
Steel Plants. Turnover from Consultancy
Jobs constituted 65.99% of the total
turnover and was higher by 61.84% over
the previous year. Turnover from Turnkey
Projects constitute 34.01% of total turnover.
However, total turnover has increased by
6.05% over the previous year.
Froht before tax for the year 2010-11 is
`14,092.80 lakhs which is higher by 13.02%
over previous year. Higher volume of
busihess hahdled with improved efhciehcy
and cost control measures contributed to
record performance. Interest and Finance
Costs were lower by `130.89 lakhs.
During the year, the company continued
its thrust on debt reduction and fund
management. Overall debt of the company
has reduced by `3,504.72 lakhs. This enabled
the company to improve its debt/equity ratio
and helped in reducing its total interest
burden. During the Financial Year 2010-11,
the company has earned interest of `3,617.8
lakhs through short-term deposits with
scheduled banks.
The highlights of hhahcial performahce of the
company for the year 2010-11 w.r.t. 2009-10
are mentioned below :
(` in lakhs)
Sl.
No.
Particulars FY
2010-11
FY
2009-10
a) Turnover 64,137.96 60,477.53
b) Current Business Income 3,617.80 3,857.01
c) Payment to & Provisions for
Employees
28,474.43 20,779.34
d) Other Expenses & Provisions 4,619.26 4,534.72
e) Equipment for Construction
Contracts
13,977.44 21,605.38
f) Payment to Sub-Contractors 5,752.92 5,415.38
g) Fixed Assets (Gross Block) 12,127.77 11,691.39
h) Job-in-Progress 408.16 919.08
i) Sundry Debtors 21,467.88 16,314.56
j) Other Current Assets 8,554.09 8,683.34
k) Loans and Advances 5,573.40 6,334.82
l) Current Liabilities and Provisions 72,523.15 63,151.43
m) Share Capital 10,313.84 10,313.84
n) Loan Funds 8,511.75 12,016.47
Due to improved fund position as result of
stringent collection initiatives and improved
treasury management, short-term deposit
with scheduled banks has increased by
`12,184.79 lakhs.
Payment to & Provisions for Employees
has increased over the previous year
due to ihcrease ih perks ahd behehts oh
implementation of wage revision and
subsequent increase as per actuarial valuation
following implementation of AS-15 (Revised).
lhvestmeht towards hxed asset has ihcreased
due to purchase/capitalizatioh of hxed assets
to provide the infrastructure to cushion the
increased business of the company.
Sundry Debtors have increased due to
substantial increase in volume of business /
turnover etc. during the year.
Current Liabilities and Provisions have
increased due to increase in Trade Creditors
38
TH
37
ahd provisioh towards retrial behehts payable
to the employees on implementation of wage
revision, etc. and provision for employee
behehts as per actuarial valuatioh followihg
AS-15 (Revised).
Loan Funds were reduced on account
of repayment of installment amount of
Goverhmeht Guarahteed VFS Loah.
Due to improvement in Financial and
Operatiohal performahce, the Net Workihg
Capital has increased by `5,933.18 lakhs, the
Net Worth of the compahy has improved by
`9,002.39 lakhs compared to previous year.
7.0 HUMAN RESOURCE DEVELOPMENT
In todays knowledge-based business
scenario, the competitiveness of the
organizations cannot be better explained
than its capability to treasure an ever growing
and competent workforce. MECON being an
Ehgiheerihg Cohsultahcy ahd a cohuehce
of various streams of engineering and other
techhical helds heeds a cohtihuous ehdeavor
to keep its knowledge domain abreast with the
latest technology, software and skill. To keep
our competitive edge intact, we provide the
appropriate training to all our employees after
the training need analysis of the individual.
Key activities undertaken by HRD in the year
2010-11 are mentioned below:
Durihg the period 2010-11, diversihed
external as well as internal training
programs were organized in addition to
the Orientation program for Management
Trainees 2010. Internal training programs
like Business Negotiation, Communication
& Presentation Skills, etc. provided
the requisite managerial input to our
employees. Technical programs in the
held of STAD Fro, Stru CAD, etc. helped
in updating the skills of our employees.
Traihihg program focused oh Work-life
balance was conducted for an appreciable
number of batches of non-executive
employees of MECON, Ranchi. On the
external training front, programs on
GRIHA- Green Building concept, UT Level
& RT Level, Design of RCC structures-
specially Chimneys, etc were organized to
keep up with the latest technologies.
Our web-based framework for lihkihg
the traihihg heed, idehtihed through
Competency Mapping System (CMS)
with our Training Processing/Approval
System is now fully functional and Delhi
8 Bahgalore ofhces are also usihg the
latest system for approval and updation
of training data.
Uhder the roof of Khowledge Mahagemeht
System (KMS) in MECON, the revamping
of the Knowledge Management
Committee and re-formulation of
Knowledge Management Communities
took place. Demonstration session was
conducted to connect more employees
with our knowledge repository in the
e-archive system. The fruits of the efforts
are visible through revitalized rate of
document upload in Ranchi. The number
of documents in the e-archive system has
crossed 42000.
Our ehdeavour to promote khowledge
sharing through a Quarterly Publication
named KM Bulletin has proved to be
successful. We have already released 9
editions of the bulletin which are available
online at MECON Infocentre for all regular
employees.
The core part of our KM Bulletih, 'KM
Article Writihg Competitioh' has covered
various areas of MECONs activities. It is
an article writing competition among our
own employees, where they try to share
the experience and expertise gained by
MECON in particular section/sector. The
6th competition is in progress.
HFD has achieved 1755 Mahdays agaihst
38
TH
38
the MoU of 1190 Mandays for training
in FY2010-11. This achievement of
MoU target comes under the Excellent
Category.
8.0 TECHNOLOGICAL UP-GRADATION
In the traditional areas of its operation,
high level of technological and engineering
excellence constitutes the core strength of
MECON. This has been achieved through a
continuous process of acquiring, absorbing
and innovating state-of-the art technologies
to suit the needs of various clients.
The next level of up-gradation shall be
based on the premise of liberalization which
has gradually aligned the Indian markets to
global competition. This very characteristic
has been a catalyst to aggravate concerns
over direct transfer of technology
through long term training programs
by organizations competing in identical
opportunity space. Such a scenario renders
know-how license agreements and general
collaboration/co-operation agreements as a
win-win situation for organizations sharing
common business interest. Any such
initiative is required to be complemented
with dynamic process of acquiring and
absorbing knowledge, building up requisite
data base and using these data for a focused
research/in-house development to bridge
the idehtihed techhology gap.

Some of the measures being adopted are :
i. Exposure to global technology and tie-up
in potential areas.
ii. Empanelment of experts in need-base
areas.
iii. Recruitment of experienced personnel.
iv. In-house engineering research &
development.
v. Access to modern tools for analysis,
design, drafting and inspection.
vi. Training both inside the country and
abroad.
In addition to above some of the points
which are being considered for continual
improvement are :
i. Reinforcing our strengths in the metals
sector.
ii. Developing core competency in some of
the diversihed areas.
iii. Sustaihed growth with sufhcieht
order book position and cost effective
operations.
iv. Enhancing productivity
v. Timely execution / completion of projects/
assignments.
9.0 CORPORATE SOCIAL RESPONSIBILITY
(CSR)
MECON has undertaken a number of activities
as a part of its Corporate Social Responsibility
(CSF). These cah be broadly classihed as
follows :
Commuhity educatioh scheme
Fesource geheratioh scheme
Vocatiohal traihihg
Commuhity health programme
Frogrammes for aidihg disabled /
handicapped
Aforestatioh programme
Village/Fural based programmes
38
TH
39
Other welfare activities
- Support to Voluhtary orgahisatiohs/
Non-Governmental organisations
- HlV/AlDS awarehess programme
- Providing drinking water tankers
- Sports promotion
- Art/culture promotion
During 2010-11, the various CSR activities
carried out are as follows :
Running of 13 nos. community education
centers for the poor children in slum areas/
backward areas/rural areas in Ranchi &
Khunti districts
Running of 7 nos. resource generation
centers (stitching centers) for women
in slum areas/backward areas in Ranchi
district.
23 students in different trades were
admitted for Vocatiohal traihihg for the
session 2010, out of which 12 students
were declared successful.
10 nos. health camps were held wherein
more than 1,980 patients were treated.
Frovided techhical 8 hhahcial assistahce
for construction of a 26 bedded boys
hostel at St. Michaels school for the Blind,
Old Hazaribagh Road, Ranchi.
Provided saplings of fruit bearing trees in
the tribal villages (i) Vil. Fai, Dist.-Khuhti
ahd (ii) Vil. Fupru, Block-Ahgara, Dist.-
Ranchi.
Provided training to thirty village youths
of the tribal villages (i) Vil. Fai, Dist.-Khuhti
ahd (ii) Vil. Fupru, Dist.-Fahchi ih Lac
cultivation at Indian Institute of Natural
Resin and Gum, Namkum, Ranchi.
Grant/aid to Jharkhand Social Revolution
& Development Society (JSRDS) AADYA
for setting up soap manufacturing unit at
Vil.-Fatra Toli, Balalohg, Dist.-Fahchi.
7 ho. HlV/AlDS awarehess programme
was also organized, wherein the number
of participants were around 320.
Provided water tankers for supply of
drinking water in remote areas wherever
the scarcity of water is acute.
Provided sports & games items to the
youths of tribal villages (i) Vil . Fai, Dist.-
Khuhti ahd (ii) Vil. Fupru, Block-Ahgara,
Dist.-Ranchi.
Organized Rural football tournaments
ih the tribal villages (i) Vil. Fupru, Block-
Ahgara, Dist.-Fahchi ahd (ii) Vil.-Chelahgi,
Dist.-Khunti. In addition, a Rural hockey
tourhameht" was also orgahized ih Vil.-
Belagara, Maranghada, Dist.-Khunti.
For the 34th National Games, MECON
carried out the beautihcatioh work from
Karpoori Thakur Chowk, Hinoo, Ranchi
to Rajendra Prassad Chowk, Doranda,
Ranchi.
Social welfare grant/aid to Jawaharlal
Nehru Kala Kendra, Shyamali, Doranda,
Ranchi for promotion of art and culture.
Rain water harvesting scheme was
launched at Sri Aurobindo Society,
Doranda, Ranchi.
Social welfare grant for poor workers
of Consumer Cooperative Stores and
recreational centre.
38
TH
40
The Directors present the Companys Report
on Corporate Governance as on 31.03.2011.
The Companys Corporate Governance
practice is based on the principles of integrity,
fairness, equity, transparency, accountability
and commitment to values that governs
relationship with all its stakeholders and
attaining maximum level of enrichment of the
enterprise. The said practice of Corporate
Governance stem from its professionalism.
MECON trust on the conduct of its business
activities and enhance the value of all those
who are associated with the Company
viz. Shareholders, Customers, Vehdors,
Government of India, Ministry of Steel,
Department of Public Enterprises, various
State Governments, other Government
Agencies/Departments and the society at
large.
1.0 BOARD OF DIRECTORS
The composition of the Board is as per DPE
Guidelines on Corporate Governance.
The Board of Directors oversees all major
actions proposed to be taken by the Company.
The Board also reviews and approves the
strategic and business plans including
monitoring corporate performance.
1.1 Composition of Board of Directors (as
on 31.03.2011) :
(i) Functional Directors including
CMD (Whole time)
3
(ii) Part-time Government Directors 2
(iii) Fart-time Noh-Ofhcial Directors 3
Total 8
1.2 Terms & Conditions of appointment of
Board Member :
The terms, conditions and tenure of
appointment of Chairman-cum-Managing
Director as well as Full-time and Part-time
Directors are decided by the Government of
India, Ministry of Steel.
1.3 Remuneration / Compensation to Board
of Directors :
The Chairman-cum-Managing Director and
Whole-time Directors are paid mohthly
remuheratioh as hxed by Goverhmeht of
lhdia. The Fart-time Noh-Ofhcial Directors
are paid sitting fees for attending each
meeting of the Board of Directors, Audit
Committee Meeting and Remuneration
Committee Meeting. The Company
bears all the expenditure of the Part-time
Government Directors and Part-time Non-
Ofhcial Directors for attehdihg the Board
Meetings, Audit Committee Meetings and
Remuneration Committee Meetings.
1.4 Board Meetings
The Board Meets statutorily and also as
many times as may be warranted. The Board
Meetings are held not only at companys
Fegistered Ofhce at Fahchi, but also at
its Ehgiheerihg Ofhce at New Delhi. The
Company Secretary serves as Secretary to
the Board Meetings.
1.5 Number of Board Meetings :
During the year 2010-11, Four (4) Meetings
were held, the details of which are given
below :
Sl.
No.
Date of Meeting Board Strength No. of Directors
Present
1 16.06.2010 6 6
2 15.09.2010 6 6
3 22.12.2010 5 5
4 30.03.2011 8 7
ANNEXURE-III
FEFOFT ON COFFOFATE GOVEFNANCE
38
TH
41
Particulars of the Directors including their
attendance at the Board Meetings from 1st April,
2010 to 31st March, 2011.
Name of Directors Period No. of Board
Meetings
held
No. of Board
Meetings
attended
I. Whole time Directors
1. Shri L.R.Singh, Actg.
CMD & Director
(Technology)
01.04.2009
to
30.09.2010
TWO TWO
2. Shri A.K.Ghosh,
Actg. CMD & Director
(Commercial)
(Actg.CMD w.e.f.
01.10.2010)
01.04.2010
to
31.03.2011
FOUR FOUR
3. Shri K.K.Mehrotra
Director
(Engineering)
01.04.2010
to
31.03.2011
FOUR FOUR
4. Shri J. Mathew
Director (Projects)
26.05.2010
to
31.03.2011
FOUR FOUR
II. Part-time Government Directors
1. Shri U.P. Singh, I.A.S
Jt. Secretary to
the Govt. of India,
Ministry of Steel,
New Delhi.
01.04.2010
to
31.03.2011
FOUR FOUR
2. Shri S. Machendra
Nathan, IAS, AS & FA
to the Govt. of India,
Ministry of Steel,
New Delhi.
14.06.2010
to
31.03.2011
FOUR FOUR
III. Part-time Non OfciaI Directors
1. Shri G.Ojha, Director 20.01.2011
to
31.03.2011
ONE Nil
2. Shri M.R. Pasrija,
Director
25.01.2011
to
31.03.2011
ONE ONE
3. Shri B.Ramesh
Kumar, Director
31.01.2011
to
31.03.2011
ONE ONE
2.0 BOARD COMMITTEES
2.1 Audit Committee
The Board of Directors had reconstituted the
Audit Committee after appointment of Part-
time Noh-Ofhcial Directors oh the Board of
the Company. The Audit Committee in place
as on 31.03.2011 consists of two Part-time
Noh-Ofhcial (lhdepehdeht) Directors ahd ohe
whole time director. The Chairman of the
Audit Committee is a Fart-time Noh-Ofhcial
(Independent) Director. The Audit Committee
as on 31.03.2011 comprises of the following
Directors.
Members of the Audit Committee as on
31.03.2011 are :
1. Shri M.R. Pasrija, Director - Chairman
2. Shri G.Ojha, Director - Member
3. Shri J.Mathew, Director - Member
(Projects)
The Company Secretary acts as Secretary
during the meeting of the Committee.
Number of Audit Committee Meetings :
During the year 2010-11, Four (4) Meetings
were held, the details of which are given
below :
Sl.No. Date of Meeting Members
Strength
No. of Members
Present
1 16.06.2010 3 3
2 15.09.2010 3 3
3 22.12.2010 3 3
4 30.03.2011 3 2
Particulars of the Directors including their
attendance at the Audit Committee Meetings from
1st April, 2010 to 31st March, 2011.
Name of Directors Period No. of Audit
Committee
held.
No. of Audit
Committee
Meetings
attended.
Shri U.P. Singh, I.A.S
Director, Chairman
Audit Committee.
01.04.2010
to
10.03.2011
THREE THREE
Shri A.K.Ghosh,
Director (Commercial)
& CMD, Member, Audit
Committee
01.04.2010
to
10.03.2011
THREE THREE
Shri K.K.Mehrotra,
& Member, Audit
Committee
01.04.2010
to
10.03.2011
THREE THREE
Shri M.R.Pasrija,
Director & Chairman,
Audit Committee.
10.03.2011
to
31.03.2011
ONE ONE
38
TH
38
TH
42
Shri G.Ojha,
Director & Member,
Audit Committee.
10.03.2011
to
31.03.2011
ONE NIL
Shri J.Mathew,
Director (Projects)
& Member, Audit
Committee.
10.03.2011
to
31.03.2011
ONE ONE
2.2 Remuneration Committee
The Remuneration Committee was also
reconstituted by the Board of Directors
after appoihtmeht of Fart-time Noh-Ofhcial
Directors on the Board of the Company. The
Remuneration Committee in place as on
31.03.2011 consists of two part-time directors
and one whole time director. The Chairman
of the Remuneration Committee is Part-time
Noh-Ofhcial (lhdepehdeht) Director. The
Remuneration Committee meets as and when
required. The Remuneration Committee in
place as on 31.03.2011 comprises of the
following Directors.
Members of the Remuneration Committee as
on 31.03.2011 are :
1. Shri B.Ramesh Kumar, - Chairman
Director
2. Shri U.P.Singh, IAS, - Member
Director
3. Shri K.K. Mehrotra, - Member
3.0 GENERAL BODY MEETING
The details of the last four Annual General
Meeting of the company are as follows :
Year Date Time Venue
2006-07 27th Aug, 2007 3.00 PM Steel Room of the Ministry
of Steel, Govt. of India,
Udyog Bhawan, New Delhi.
2007-08 10th July, 2008 12.30 PM Ministry of Steel, Udyog
Bhawan, New Delhi.
2008-09 17th Aug, 2009 12.00
Noon
Board Room, Ashok Hotel,
New Delhi.
2009-10 20th July, 2010 11.00AM Ministry of Steel, Udyog
Bhawan, New Delhi.
4.0 DISCLOSURES
4.1 Related Party Transactions
The details of all sighihcaht trahsactiohs with
related parties are periodically placed before
the Audit Committee.
4.2 Disclosure of Accounting Treatment
All applicable Accounting Standards issued
by the Institute of Chartered Accounts of
India are being followed in the preparation of
hhahcial statemehts.
4.3 CompIiance Certicate
Compliahce Certihcate oh the Fihahcial
Statements of the Company was placed
before the Board.
4.4 Code of Conduct
The Board of Directors has laid down the
Code of Business Conduct and Ethics for the
Board Members and Senior Management
of the Company. The copy of the Code is
displayed oh the Website of the Compahy.
All Board Members ahd key ofhcials of the
compahy have afhrmed their compliahce
with the code.
38
TH
43
38
TH
AUDITORS REPORT
To,
The Members of
MECON LIMITED
1. We have audited the attached Balahce Sheet of MECON LlMlTED, as oh 31st March, 2011, the Froht
& Loss Account and also the Cash Flow Statement for the year ended on that date annexed thereto.
These hhahcial statemehts are the respohsibility of the compahy's mahagemeht. Our respohsibility is to
express ah opihioh oh these hhahcial statemehts based oh our audit.
2. We cohducted our audit ih accordahce with the auditihg stahdards geherally accepted ih lhdia. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether
the hhahcial statemehts are free of material misstatemeht. Ah audit ihcludes examihihg, oh a test basis,
evidehce supportihg the amouhts ahd disclosures ih the hhahcial statemehts. Ah audit also ihcludes
assessihg the accouhtihg prihciples used ahd sighihcaht estimates made by the mahagemeht, as well as
evaluatihg the overall hhahcial statemeht presehtatioh. We believe that our audit provides a reasohable
basis for our opinion.
3. As required by the companies (Auditors Report) Order, 2003 as amended by the Companies (Auditors
Report) (Amendment) Order, 2004 (hereinafter referred to as the order) issued by the Central
Government of India in terms of Section 227 (4A) of the companies Act, 1956, we enclose in the Annexure
a statemeht oh the matters specihed ih paragraphs 4 8 5 of the said Order.
4. Further to our comments in the Annexure referred to above, we report that :
(i) We have obtaihed all the ihformatioh ahd explahatiohs, which to the best of our khowledge ahd
belief were necessary for the purposes of our audit;
(ii) 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 the books and proper returns adequate for the purposes of our
audit have been received from the branches not visited by us.
(iii) The Balahce Sheet, the Froht 8 Loss Accouht ahd the Cash Flow Statemeht dealt with by this report
are in agreement with the books of account.
(iv) lh our opihioh, the Balahce Sheet, the Froht 8 Loss accouht ahd the Cash ow Statemeht dealt with
by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211
of the companies Act, 1956.
(v) lh terms of Goverhmeht of lhdia, Mihistry of Fihahce, Departmeht of Compahy Affairs Notihcatioh
No. GSR 829 (E) dated 21st October, 2003 Government Companies are exempt from the applicability
of provisions of section 274 (1) (g) of the companies Act, 1956.
5. In our opinion and to the best of our information and according to the explanations given to us, the said
accouhts read with sighihcaht accouhtihg policies ahd hotes thereoh give the ihformatioh required by
the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the
accounting principles generally accepted in India :
(a) In case of Balance sheet, of the state of affairs of the Company as on 31st March, 2011.
(b) lh the case of Froht 8 Loss Accouht, of the Froht of the Compahy for the year ehded oh that date; ahd
(c) In the case of Cash Flow Statement, of the Cash Flows for the year ended on that date.
For N. K. D. & Co.
Chartered Accountants
Place : Ranchi Sd/-
Date : 13.06.2011 (Deepak Banka)
Partner
Membership Number : 079191
43
38
TH
44
Referred to in our report of even date
(i) (a) The company has maintained proper records showing full particulars including quantitative details
ahd situatioh of its hxed assets oh the basis of available ihformatioh except ih respect of some
cases whereih the hxed assets register ahd records are ih the process of beihg updated.
(b) The hxed assets of the compahy have beeh physically verihed by the mahagemeht. As ihformed
to us, reconciliation has been carried out and no material discrepancies have been noticed on
such verihcatioh.
(c) In our opinion and according to the information and explanations given to us, there is no
substahtial disposal of hxed assets durihg the year ahd the goihg cohcerh status of the compahy
is not affected.
(ii) (a) The ihvehtories have beeh physically verihed by the mahagemeht at the ehd of the year.
(b) In our opinion and according to the information and explanations given to us, the procedures for
physical verihcatioh of ihvehtories followed by the mahagemeht are geherally reasohable ahd
adequate in relation to the size of the company and the nature of its business.
(c) In our opinion and according to the information and explanations given to us, the company has
maintained proper records of its inventory and no material discrepancies between physical stocks
ahd book records arisihg out of physical verihcatioh were hoticed.
(iii) According to information and explanations given to us :
(a) The compahy has hot grahted ahy loahs, secured or uhsecured to compahies, hrms, or other
parties covered in the register maintained under section 301 of the Companies Act, 1956.
(b) The compahy has hot takeh ahy loahs, secured or uhsecured from compahies, hrms, or other
parties covered in the register maintained under section 301 of the Companies Act, 1956.
(iv) In our opinion and according to the information and explanation given to us, there are adequate
internal control systems commensurate with the size of the company and the nature of its business
for the purchase of ihvehtory ahd hxed assets ahd for the sale of goods ahd services. Durihg the
course of our audit, we have not observed any major failures in the internal control system.
(v) According to the information and explanations given to us, during the year under audit, there have
been no contracts or arrangements which need to be entered in the register maintained under section
301 of the Companies Act, 1956.
(vi) The compahy has hot accepted ahy public deposits durihg the year as dehhed uhder sectioh 58A ahd
58AA of the Companies Act, 1956.
(vii) In our opinion, the companys internal audit system generally commensurate with the size and nature
of its business.
(viii) According to the information given to us, Central Government has not prescribed the maintenance of
cost records for the company under section 209 (1) (d) of the Companies Act, 1956.
(ix) According to the information and explanations given to us in respect of statutory and other dues :
(a) The company has generally been regular in depositing undisputed statutory dues in respect of
Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income
Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise duty, Cess ahd other material
statutory dues as applicable, with the appropriate authorities.
(b) According to the information and explanations given to us, there are no undisputed statutory
dues outstanding for a period of more than six months from the date they became payable, as per
books of accounts as at 31st March, 2011.
ANNEXURE TO THE AUDITORS REPORT
38
TH
45
(c) According to the information and explanations given to us, there are disputed statutory dues
which have not been deposited as at 31st March, 2011, given herein below :
Name of the Statute
Period to
which related
Forum
Amount
(Rs. in lakhs)
Central Sales Tax
Act & Sales Tax
Acts of various
states
1999-2000 STAT, A.P. 2.20
2001-2002 STAT, A. P. 101.40
1994-1995 Commissioner of Commercial Taxes, Ranchi 219.10
1993-1994 Appellate Authority, Calcutta 6.15
2003-2004 Asst. Commissioner, Calcutta 16.47
1993-1994
1994-1995 &
1996-1997
JCCT, Dhanbad 0.67
1998-1999 JCCT, Dhanbad 10.68
2003-2004 Jharkhand High Court 27.68
2002-2003 Jharkhand High Court 39.83
2004-2005 Jharkhand Tribunal 44.36
2005-2006 Jharkhand Tribunal 78.50
1996-1997 CCT, Ranchi 1.92
1997-1998 Sales Tax Tribunal, Ahmedabad, Gujrat 52.99
2001-2002 Jt. Commissioner, Ahmedabad 7.71
Provident Fund and
Misc. Provisions
Act, 1952
2004-2005 EPF, Appellate Tribunal, New Delhi 288.95
(x) There are no accumulated losses of the company as at the end of the year. The company has not
ihcurred cash losses durihg the hhahcial year covered by our audit ahd also hot ihcurred cash losses
ih the immediately precedihg hhahcial year.
(xi) In our opinion and according to the information and explanations given to us, the company has not
defaulted ih repaymeht of dues to hhahcial ihstitutiohs, bahks or debehture holders.
(xii) According to the information and explanations given to us, the company has not granted loans and
advances on the basis of security by way of pledge of shares, debentures and any other securities.
38
TH
46
(xiii) The compahy is hot a chit fuhd or a hidhi/mutual beheht fuhd/society. Therefore, the provisiohs of
clause 4 (xiii) of the order are not applicable to the company.
(xiv) The company is not dealing in or trading in shares, securities, debentures and other investments.
Accordingly, the provisions of clause 4 (xiv) of the order are not applicable to the company
(xv) According to the information and explanation given to us, the company has not given any guarantee
for loahs takeh by others from ahy bahk or hhahcial ihstitutioh.
(xvi) In our opinion and as per information and explanations given to us the term loans have been applied
for the purpose for which they were raised.
(xvii) According to the information and explanations given to us and on an overall examination of the
balance sheet of the company, we report that no funds raised on short-term basis have been used for
long-term investment.
(xviii) According to the information and explanations given to us, the company has not made any preferential
allotment of shares to parties and companies covered in the register maintained under section 301 of
the Act.
(xix) According to the information and explanations given to us, the company has not issued any debenture
during the year.
(xx) The company has not raised any money by public issues during the year.
(xxi) As per the information and explanations given to us, no fraud on or by the company has been noticed
or reported during the year.
For N. K. D. & Co.
Chartered Accountants
Sd/-
Place : Ranchi (Deepak Banka)
Date : 13.06.2011 Partner
Membership Number : 079191
38
TH
47
The preparatioh of hhahcial statemehts of MECON LlMlTED for the year ehded 31st March 2011 ih accordahce
with the hhahcial reportihg framework prescribed uhder the Compahies Act, 1956 is the respohsibility
of the management of the company. The statutory auditors appointed by the Comptroller and Auditor
General of India under Section 619 (2) of the Companies Act, 1956 are responsible for expressing opinion
oh these hhahcial statemehts uhder sectioh 227 of the Compahies Act, 1956 based oh ihdepehdeht audit ih
accordance with the auditing and assurance standards prescribed by their professional body the Institute
of Chartered Accountants of India. This is stated to have been done by them vide their Audit Report dated
13th June 2011.
I, on the behalf of the Comptroller and Auditor General of India, have conducted a supplementary audit
uhder sectioh 619 (3) (b) of the compahies Act, 1956 of the hhahcial statemehts of MECON LlMlTED for the
year ended 31st March 2011. This supplementary audit has been carried out independently without access
to the working papers of the statutory auditors and is limited primarily to inquires of the statutory auditors
and company personnel and a selective examination of some of the accounting records. On the basis of
my audit hothihg sighihcaht has come to my khowledge which would give rise to ahy commeht upoh or
supplement to Statutory Auditors Report under section 619 (4) of the Companies Act, 1956.
For and on the behalf of the
Comptroller & Auditor General of India
Sd/-
Place : Ranchi (Manoj Sahay)
Date : 24.06.2011 Principal Director of Commercial Audit
COMMENTS OF THE COMPTROLLER AND AUDITORS GENERAL
OF INDIA UNDER SECTION 619 (4) OF THE COMPANIES ACT, 1956
ON THE ACCOUNTS OF MECON LIMITED FOR THE YEAR ENDED
31
ST
MARCH, 2011
38
TH
48
BALANCE SHEET AS AT 31
ST
MARCH, 2011
(` in lakhs)
SCHEDULE AS ON 31.03.2011 AS ON 31.03.2010
SOURCE OF FUNDS
Shareholders Funds
a) Share Capital 1
10,313.84 10,313.84
b) Reserves & Surplus 2A
12,424.86 22,738.70 3,447.11 13,760.95
Loan Funds
a) Secured Loans 2B
3.83 14.66
b) Unsecured Loans 2C
8,507.92 12,001.81
Deferred Tax Liability (Net) 647.22 169.84
TOTAL
31,897.67 25,947.26
APPLICATION OF FUNDS
Fixed Assets
a) Gross Block 3A, 3B & 3C
12,127.77 11,691.39
b) Less : Depreciation
4,810.78 4,416.58
c) Net Block
7,316.99 7,274.81
Capital Work-in-Progress 3D
221.49 248.36
Investments 3E
511.92 510.00
Current Assets, Loans &
Advances
4
a) Inventories
150.19 118.73
b) Job-in-Progress
408.16 919.08
c) Sundry Debtors
21,467.88 16,314.56
d) Cash & Bank Balances
60,216.70 48,694.99
e) Other Current Assets
8,554.09 8,683.34
f) Loans & Advances
5,573.40 6,334.82
96,370.42 81,065.52
Less : Current Liabilities &
Provisions
5
a) Liabilities
50,276.31 45,669.61
b) Provisions
22,246.84 17,481.82
72,523.15 63,151.43
Net Current Assets 23,847.27 17,914.09
TOTAL 31,897.67 25,947.26
Schedules 1 to 5 and 11 annexed hereto form part of Accounts.
In terms of our report of even date
For N.K.D. & CO.
CHARTERED ACCOUNTANTS

Sd/- Sd/- Sd/- Sd/- Sd/-
(DEEPAK BANKA) (RAVI BAMBHA) (S. CHATTOPADHYAY) (J. MATHEW) (A. K.GHOSH)
PARTNER COMPANY SECRETARY GENERAL MANAGER (FINANCE) DIRECTOR (PROJECTS) CHAIRMAN-cum-MANAGING DIRECTOR
Place : Ranchi
Dated : 13.06.2011
38
TH
49
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED
31
ST
MARCH, 2011
(` in lakhs)
SCHEDULE CURRENT YEAR PREVIOUS YEAR
A. INCOME
a) Income from Services Rendered and Construction
Contract
6(A) 64,137.96 60,477.53
b) Current Business Income 6(B) 3,617.80 3,857.01
c) Other Income 6(C) 1,060.37 1,104.37
d) Accretion/(Decretion) to Jobs-in-Progress 6(D) (510.92) (658.27)
e) Provision for Contingencies written back 3.19 563.44
f) Provision no longer required written back 633.56 1,387.09
TOTAL (A) 68,941.96 66,731.17
B. EXPENSES
a) Payments to & Provisions for Employees 7 28,474.43 20,779.34
b) Social Amenities 8 1,170.39 1,015.44
c) Other Expenses & Provisions 9 4,619.26 4,534.72
d) Interest & Finance Charges 9A 455.21 586.10
e) Equipment for Construction Contracts 13,977.44 21,605.38
f) Payment to Sub-Contractors 5,752.92 5,415.38
g) Depreciation 383.52 379.03
TOTAL (B) 54,833.17 54,315.39
Prot/(Loss) for the year 14,108.79 12,415.78
Add/(Less) Adjustment relating to earlier years 10 (15.99) 53.66
Prot/(Loss) before Tax 14,092.80 12,469.44
Less : Provision for taxation
Current Tax (including provision for wealth tax
` 2.99 lakhs (Previous Year ` 0.70 lakhs))
4,484.20 3,826.10
Deferred Tax 299.12 717.11
Earlier Years (59.01) 4,724.31 (336.04) 4,207.17
Prot / (Loss) after Tax 9,368.49 8,262.27
Add : Credit/(Debit) Balahce of Froht 8 Loss Accouht
(Opening)
- (6,813.91)
Amount available for Appropriation 9,368.49 1,448.36
Amount transferred to Bond Redemption Reserve (Net) 6,418.96 1,081.04
Provision for Preference Dividend 315.00 315.00
Provision for Tax on Preference Dividend 51.10 366.10 52.32 367.32
Prot / (Loss) carried over to BaIance Sheet 2,583.43 0.00
Earnings per Share (Face Value ` 10/- each)
Froht Attributable to Equity Shareholders 9,002.39 7,894.95
Average Number of Equity Shares 40,138,360 40,138,360
Earnings per Share (Basic & Diluted) (`) 22.43 19.67
Schedules 6 to 11 form an integral part of Accounts
In terms of our report of even date
For N.K.D. & CO.

(DEEPAK BANKA) (RAVI BAMBHA) (S. CHATTOPADHYAY) (J. MATHEW) (A.K. GHOSH)
PARTNER COMPANY SECRETARY GENERAL MANAGER (FINANCE) DIRECTOR(PROJECTS) CHAIRMAN-cum-MANAGING DIRECTOR
Place : Ranchi
Dated : 13.06.2011
38
TH
50
CASH FLOW STATEMENT (lNDlFECT METHOD)
(` in lakhs)
2010-2011 2009-2010
Cash Flows from Operating Activities
Net Prot/(Loss) before Taxation 14,092.80 12,469.44
Add : Adjustments for
Depreciation 415.59 380.73
Loss on Sale/Disposal of Fixed Assets 4.64 19.28
Bad Debts written off 9.71 45.73
Provision for Bad Debts 86.65 1.19
DRE written off - 14.64
Interest and Finance Charges 455.21 586.10
971.80 1,047.67
Less : Adjustments for
Froht oh Sale/Disposal of Fixed Assets 2.06 1.42
Dividend Received 2.50 2.50
4.56 3.92
Operatihg Froht/(Loss) before Workihg Capital Chahges 15,060.04 13,513.19
Add : Adjustments for
Inventories - 4.82
Jobs-in-Progress 510.92 658.27
Debtors - -
Other Current Assets 90.57 -
Loans and Advances - 940.82
Liabilities and Provisions 9,453.12 2,876.68
10,054.61 4,480.59
Less : Adjustments for
Inventories 31.46 -
Jobs-in-Progress - -
Debtors 5,249.68 2,090.55
Other Current Assets - 5,606.27
Loans and Advances 2,452.66 -
Liabilities and Provisions - -
7,733.80 7,696.82
Cash Generated from Operations 17,380.85 10,296.96
Less : Taxes Paid 1,032.85 3,500.79
Net Cash from Operating Activities {A} 16,348.00 6,796.17
Cash Flows from Investing Activities
Purchase of Fixed Assets (461.76) (484.43)
Fixed Assets sold/discarded 3.64 21.42
Purchase of Long-Term Investments (1.92) -
Dividend Received 2.50 2.50
Net Cash from Investing Activities {B} (457.54) (460.51)
Cash Flows from Financing Activities
Repayment of Unsecured Loan (3,500.00) (3,634.73)
Proceeds/(Repayment) of Secured Loan (10.83) (495.29)
Dividend including Dividend Tax Paid (367.32) (368.53)
Interest and Finance Charges (490.60) (627.71)
Net Cash from Financing Activities {C} (4,368.75) (5,126.26)
Net Increase/(Decrease) in Cash & Cash Equivalent {A}+{B}+{C} 11,521.71 1,209.40
Cash and Cash Equivalent at the beginning 48,694.99 47,485.59
Cash and Cash Equivalent at the end 60,216.70 48,694.99
NOTES :
1. Cash and Cash Equivalent as on 31st March, 2011 includes Cash in Hand ` 13.62 lakhs (CPLY ` 15.69 lakhs), Cash at Bank ` 472.35 lakhs (CPLY
` 1,133.36 lakhs) and Fixed Deposit with Banks ` 59,730.73 lakhs (CPLY ` 47,545.94 lakhs).
2. Cash ahd Cash Equivaleht as oh 31st March, 2011 also ihcludes hxed deposit of ` 305.93 lakhs (CPLY ` 290.77 lakhs) recovered from employees
agaihst perquisites tax, hxed deposit of ` 338.33 lakhs (CPLY ` 451.11 lakhs) agaihst uhutilised amouht of VFS Fuhd ahd CSF Fuhd of ` 200.92
lakhs (CPLY ` NIL) which are available for use against respective purposes only.
Note : CPLY (Corresponding Period Last Year)
For N.K.D. & CO.
(DEEPAK BANKA) (RAVI BAMBHA) (S. CHATTOPADHYAY) (J. MATHEW) (A.K. GHOSH)
PARTNER COMPANY SECRETARY GENERAL MANAGER (FINANCE) DIRECTOR (PROJECTS) CHAIRMAN-cum-MANAGING DIRECTOR
Place : Ranchi
Dated : 13.06.2011
38
TH
51
Schedule forming part of the Balance Sheet as at 31
st
March, 2011
SCHEDULE 1 : SHARE CAPITAL
(` in lakhs)
AS ON
31.03.2011
AS ON
31.03.2010
AUTHORISED
4,10,00,000 (Previous year 4,10,00,000) Equity Shares of ` 10/- each
6,30,00,000 (Previous year 6,30,00,000) 5% Non Cumulative Redeemable
Preference Shares of ` 10/- each
4,100.00 4,100.00
6,300.00 6,300.00
10,400.00 10,400.00
ISSUED, SUBSCRIBED AND PAID UP
1. 4,01,38,360 ( Previous year 4,01,38,360 ) Equity Shares of ` 10/- each. 4,013.84 4,013.84
All these shares have been allotted to the President of India or his nominees
as fully paid-up Equity Shares
Out of the total shares, 20,14,800 equity shares have been allotted as fully
paid-up for consideration other than cash, pursuant to the Government
of India, Ministry of Steel & Mines letter No. 6(100)/78-SAIL(1) dated 15th
May, 1979 as consideration for net book value of immovable assets of M/s
Hindustan Steel Limited at Ranchi transferred to the Company, 4,03,060
shares are allotted as fully paid-up Bonus Shares, 60,00,000 Equity Shares
have been allotted as fully paid-up against conversion of Government
of India Loan outstanding as on 31st March, 2005 and 17,20,000 Equity
Shares have been allotted as fully paid-up against conversion of Interest
on Government of India Loan outstanding as on 31st March, 2005 vide
Government of India, Ministry of Steel Order No. 4(46) / 2004-HSM dated
30th March, 2007
2. 6,30,00,000 ( Previous year 6,30,00,000 ) 5% Non-Cumulative Redeemable
Preference Shares of ` 10/- each, redeemabIe in ve equaI annuaI
instalments commencing from 2011-12.
All these shares have been allotted to the President of India or his nominees
as fully paid-up vide Government of India, Ministry of Steel sanction letter
ho. 4(46) / 2004-HSM (Vol. lV) dated 29.06.2007
6,300.00 6,300.00
TOTAL 10,313.84 10,313.84
38
TH
52
st
March, 2011
SCHEDULE 2A : FESEFVES 8 SUFFLUS
(` in lakhs)
AS ON 31.03.2011 AS ON 31.03.2010
Bond Redemption Reserve
As per last Balance Sheet 1,081.04 -
Add : Trahsferred from Froht ahd Loss Accouht # 6,822.92 1,081.04
Less : Trahsferred to Froht ahd Loss Accouht ## 403.96 7,500.00 - 1,081.04
Revaluation Reserve ###
As per last Balance Sheet 2,366.07 2,390.71
Less : Trahsferred to Froht 8 Loss Accouht oh adjustmeht of
Depreciation

24.64

2,341.43 24.64 2,366.07
SurpIus as per Prot Loss Account

2,583.43 -
TOTAL 12,424.86 3,447.11
# During the year the company has created Bond Redemption Reserve of ` 6,822.92 lakhs (Previous Year ` 1,081.04 lakhs) out
of available disposable prohts.
## Trahsferred to Froht ahd Loss Accouht is oh accouht of Fedemptioh of Bohd durihg the year oh pro-rata basis.
# # # A Revaluation Reserve of ` 3,879.23 lakhs was created as on 31.03.2000 due to revaluation of certain Land & Buildings owned
by the company. It was adjusted to the extent of ` 1,513.16 lakhs upto 31st March, 2010 and ` 24.64 lakhs adjusted due to
depreciation on appreciation of Land & Buildings during the period ending 31st March, 2011.
SCHEDULE 2B : SECURED LOANS
(` in lakhs)
AS ON 31.03.2011 AS ON 31.03.2010
Workihg Capital Borrowihgs from Bahk $ 3.83 14.66
TOTAL 3.83 14.66
$ Secured by hypothecation of Companys Fixed Deposits
38
TH
53
SCHEDULE 2C : UNSECURED LOANS
(` in lakhs)
AS ON 31.03.2011 AS ON 31.03.2010
Loan from Bank against Govt. Guarantee for VRS
Add : Interest accrued & due
1,000.00 2,000.00
7.92 1,007.92 1.81 2,001.81
Non Convertible Bonds*
Series
Interest
Rate
Face value of
Bond (`)
Date of redemption
I 6.90% 1,000,000 5 equal annual instalments
commencing from 24/08/2009
6,000.00 6,000.00
Less : Redeemed (2/5 th) 2,400.00 1,200.00
(Previous Year 1/5 th) 3,600.00 4,800.00
III 6.80% 1,000,000 5 equal annual instalments
commencing from 27/11/2009
6,500.00 6,500.00
Less : Redeemed (2/5 th) 2,600.00 1,300.00
(Previous Year 1/5 th) 3,900.00 7,500.00 5,200.00 10,000.00
* Non-convertible bonds are guaranteed by Govt. of India and also secured
by charge ranking pari-passu interse on immovable property (Book value
as on 31/03/2004 ` 5.10 lakhs) at Mouje Irana of Kadi Taluka, Mehsana,
Gujarat.
TOTAL 8,507.92 12,001.81
SCHEDULE 3A : FIXED ASSETS (GENERAL)
(` in lakhs)
TYPES OF ASSET COST DEPRECIATION NET BLOCK AS ON
As on
01.04.10
Addition/
Adjustment
during the
period
Sale/
Adjustment
during the
period
As on
31.03.11
As on
01.04.10
On Sale/
Adjustment
During the
period
Upto
31.03.11
31.03.11 31.03.10
1. Land 266.79 - - 266.79 - - - - 266.79 266.79
2. Road, Bridges &
Culverts
0.55 - - 0.55 0.25 - 0.01 0.26 0.29 0.30
3. Water Supply ahd
Sewerage
3.79 - - 3.79 1.14 (0.01) 0.06 1.21 2.58 2.65
4. Building - Freehold
- Leasehold
3,005.48 - - 3,005.48 517.79 - 48.99 566.78 2,438.70 2,487.69
102.75 - - 102.75 26.92 0.01 1.68 28.59 74.16 75.83
5. Furniture & Fixtures 737.52 14.32 3.30 748.54 365.60 3.29 30.13 392.44 356.10 371.92
6. Vehicles 36.94 - 0.71 36.23 12.85 0.67 3.49 15.67 20.56 24.09
7. Electrical Installation 583.50 29.39 7.33 605.56 297.27 4.56 30.05 322.76 282.80 286.23
8. Computer Hardware 1,559.79 120.28 27.49 1,652.58 1,144.44 27.25 138.08 1,255.27 397.31 415.35
9. Computer Software
(Intangible)
380.06 38.12 - 418.18 213.22 - 89.44 302.66 115.52 166.84
10. Misc. Articles
including Library
1,258.56 28.79 13.05 1,274.30 823.09 10.26 41.91 854.74 419.56 435.47
TOTAL 7,935.73 230.90 51.88 8,114.75 3,402.57 46.03 383.84 3,740.38 4,374.37 4,533.16
Figures for Previous
Year
7,659.74 368.99 93.00 7,935.73 3,108.50 53.76 347.83 3,402.57 4,533.16 4,551.24
st
March, 2011
38
TH
54
SCHEDULE 3C : FlXED ASSETS (FETlFED FFOM ACTlVE USE)
(` in lakhs)
TYPES OF ASSET
COST DEPRECIATION NET BLOCK AS ON
As on
01.04.10
Addition/
Adjustment
during the
period
Sale/
Adjustment
during the
period
As on
31.03.11
As on
01.04.10
On Sale/
Adjustment
During
the
period
Upto
31.03.11
31.03.11 31.03.10
1. Ofhce Fremises at WTC,
Mumbai ##
12.37 - - 12.37 - - - - 12.37 12.37
TOTAL 12.37 - - 12.37 - - - - 12.37 12.37
GRAND TOTAL (3A, 3B & 3C ) 11,691.39 488.63 52.25 12,127.77 4,416.58 46.03 440.23 4,810.78 7,316.99 7,274.81
Figures for Previous Year 11,399.69 384.70 93.00 11,691.39 4,064.93 53.72 405.37 4,416.58 7,274.81 7,334.76
NOTE : ## lower of net book value and net realisable value
Current
Year
Previous
Year
NOTE : Allocation of Depreciation
i) Depreciation / Amortisation for the Period 383.52 379.03
ii) Transfer from Revaluation Reserve on a/c of depreciation 24.64 24.64
iii) Depreciation relating to earlier year 32.07 1.70
TOTAL 440.23 405.37
SCHEDULE 3B : FIXED ASSETS (SOCIAL AMENITIES)
(` in lakhs)
TYPES OF ASSET COST DEPRECIATION NET BLOCK AS ON
As on
01.04.10
Addition/
Adjustment
during the
period
Sale/
Adjustment
during the
period
As on
31.03.11
As on
01.04.10
On Sale/
Adjustment
During the
period
Upto
31.03.11
31.03.11 31.03.10
1. Land 1,247.43 - 0.37 1,247.06 - - - - 1,247.06 1,247.43
2. Road, Bridges &
Culverts
38.12 - - 38.12 15.66 - 0.62 16.28 21.84 22.46
3. Water Supply ahd
Sewerage
152.52 - - 152.52 63.70 0.01 2.54 66.23 86.29 88.82
4. Building 1,739.96 231.14 - 1,971.10 627.56 - 36.20 663.76 1,307.34 1,112.40
5. Fences 82.21 - - 82.21 17.93 (0.01) 1.34 19.28 62.93 64.28
6. Plant & Machinery 4.37 0.07 - 4.44 1.99 0.01 0.18 2.16 2.28 2.38
7. Furniture & Fixtures 35.77 1.82 - 37.59 25.44 - 2.18 27.62 9.97 10.33
8. Vehicle 0.61 - - 0.61 0.39 (0.01) 0.04 0.44 0.17 0.22
9. Electrical Installation 181.70 3.87 - 185.57 116.70 0.01 2.73 119.42 66.15 65.00
10. Computer Hardware 1.74 0.02 - 1.76 1.07 (0.01) 0.15 1.23 0.53 0.67
11. Misc. Articles
including Library
258.86 20.81 - 279.67 143.57 - 10.41 153.98 125.69 115.29
TOTAL 3,743.29 257.73 0.37 4,000.65 1,014.01 - 56.39 1,070.40 2,930.25 2,729.28
Figures for Previous
Year
3,727.58 15.71 - 3,743.29 956.43 (0.04) 57.54 1,014.01 2,729.28 2,771.15
N.B. : As per Accounting Policy Sl. No. 2.2 assets purchased during the year costing upto ` 1,000/- each are charged to revenue and included in
Schedule 9.
st
March, 2011
38
TH
55
SCHEDULE 3D : CAFlTAL WOFK-lN-FFOGFESS
(` in lakhs)
Particulars
Opening
Balance
as on
01.04.2010
Additions/
Adjustments
during the
Period
Total
Capitalised/
Adjustments
during the
period
Balance as on
31.03.2011 31.03.2010
1. Acquisition of Residential Building at
Mumbai
219.04 11.49 230.53 230.53 - 219.04
2. Water Feserviour, Borewells, Separatioh of
Domestic and Non-Domestic Loads, etc at
Fesidehtial Towhship ahd Head Ofhce at
Ranchi
29.32 192.17 221.49 - 221.49 29.32
TOTAL 248.36 203.66 452.02 230.53 221.49 248.36
Residential Building acquired at Mumbai has been capitalised/adjusted and transferred to Schedule 3B under Buildings
SCHEDULE 3E : lNVESTMENT - AT COST
(` in Lakhs)
Particulars AS ON 31.03.2011 AS ON 31.03.2010
A. LONG TERM
Traded (Unquoted)
1. 5000 Equity Shares of Niara 10 each fully paid up being 50% of paid up share
capital of M/s Metallurgical & Engineering Consultants (Nigeria) Limited, a
Company set up in Nigeria jointly by this Company with two Nigerian Government
Companies and Nigerian Citizens
7.60 7.60
Less : Provision for dimunition in value of investment 7.60 - 7.60 -
2.
50,00,000 Equity Shares of ` 10/- each fully paid up of Neelachal Ispat Nigam
Limited.
500.00 500.00
3. 100,000 Equity Shares of ` 10/- each fully paid-up of Global Procurement
Consultants Limited.
10.00 10.00
Add : Purchase of 6,383 Equity Shares of ` 10/- each fully paid-up at a premium
of ` 20/- per share under rights issue
1.92 11.92 - 10.00
TOTAL 511.92 510.00
st
March, 2011
38
TH
56
st
March, 2011
SCHEDULE 4 : CUFFENT ASSETS, LOANS AND ADVANCES
(` in lakhs)
PARTICULARS AS ON 31.03.2011 AS ON 31.03.2010
A. CURRENT ASSETS
i) Inventories as taken, valued and
certihed by the Mahagemeht
(a) Stores and Spares 92.54 68.92
(b) Printing and Stationery 44.54 37.60
(c) Computer Consumables 13.11 150.19 12.21 118.73
ii) Job-in-Progress (at lower of Cost or
estimated realisable Value)
-- for Consultancy Services 408.16 919.08
iii) Sundry Debtors (Unsecured) :
Debts outstanding for more than six
months
9,605.42 5,438.63
Other Debts 12,428.32 22,033.74 11,380.38 16,819.01
a) Considered Good 21,467.88 16,314.56
b) Considered Doubtful 565.86 504.45
22,033.74 16,819.01
Less : Provision for doubtful debts 565.86 21,467.88 504.45 16,314.56
iv) Cash & Bank Balance :
(a) Cash, Cheques & Stamps in
hand
13.62 15.69
(b) With Scheduled Bahks 59,730.73 47,545.94
- in deposit account includes
` 6,350 lakhs (previous year
` 5,690 lakhs) lodged with
Scheduled Banks as Security
against Bank Guarantee &
Overdraft

(c) With Scheduled Bahks ih
Current Account 472.35 60,216.70 1,133.36 48,694.99
B. OTHER CURRENT ASSETS
i) Interest Accrued but not due 2,609.75 1,471.81
ii) Other Receivables 628.10 679.46
iii) Amount Accrued but not Invoiced
(Net)
5,316.24 8,554.09 6,532.07 8,683.34
C. LOANS AND ADVANCES
Advances recoverable in cash or in
kind or for value to be received
a) Advance to Contractors 22.00 9.69
b) Advance to Suppliers and Sub-
Contractors
2,176.44 2,182.24
Less : Provision for Doubtful
Advances
181.94 1,994.50 182.09 2,000.15
38
TH
57
(` in lakhs)
c) Advance to Employees 484.02 268.70
d) Advance to Others & Canteen 155.50 170.78
e) Prepaid Expenses 14.00 13.49
f) Deposit with :
Government Authorities 5.43 5.47
Others 461.84 408.55
Less : Provision for Earnest Money Deposit 7.32 6.71
Less : Provision for Doubtful Deposit with Others 187.09 267.43 184.48 217.36
g) Claims Recoverable

160.75 168.20
Less : Provision for Claims Recoverable 7.48 153.27 8.04 160.16
h) Liquidated Damages Recovered by Clients 181.84

124.60
Less : Provision for Liquidated Damages
Recovered
96.91
84.93 7.92 116.68
i) Advance payment of Taxes (including TDS
` 5,483.83 lakhs Previous Year ` 3,179.01 lakhs) 10,917.77 7,719.51
Less : Provision for Taxation 9,687.08 1,230.69 5,516.78 2,202.73
j) Payment against Sales Tax in dispute and under
appeal
758.18 746.87
k) VAT Credit Feceivable (lNFUT) 22.31 36.08
l) OUTFUT VAT Feceivable 18.69 -
m) Service Tax Receivable 362.45 5,573.40 386.66 6,334.82
TOTAL 96,370.42 81,065.52
PARTICULARS OF LOANS AND ADVANCES
Loans and Advances :
(a) Secured, considered good (#) 0.63 1.42
(b) Unsecured considered good 5,572.77 6,333.40
5,573.40 6,334.82
(#) Secured agaihst Buildihg ahd Vehicles
Debts due by directors or other ofhcers of the Compahy or
any of them either severally or jointly with any other person.
- -
Maximum amount due at any time during the period ended
31st March, 2011 ` 0.13 lakhs (previous year ` 1.41 lakhs)
st
March, 2011
38
TH
58
st
March, 2011
SCHEDULE 5 : CUFFENT LlABlLlTlES AND FFOVlSlONS
(` in lakhs)
1. CURRENT LIABILITIES
Sundry Creditors
- Dues to MSM Enterprises / SSI Undertaking - -
- Others 28,863.89 28,863.89 22,076.35 22,076.35
Advances from Clients 14,928.02 16,375.58
Liquidated Damages Recovered 587.97 553.50
Securities and other deposits 299.26 302.11
Employees Family Beheht Scheme 225.24 226.96
Liability for Employees 4,898.03 5,760.24
Service Tax / VAT Fayable 7.06 0.35
Interest accrued but not due for Bond Loan 240.54 320.72
Other Liabilities 226.30 53.80
TOTAL - 1 50,276.31 45,669.61
2. PROVISIONS
Provision for Bonus 2.03 4.74
Frovisioh for Gratuity (F.V. of D.B.O. as per
actuarial valuation)
267.05 1,364.71
Frovisioh for Leave Ehcashmeht (F.V. of D.B.O. as
per actuarial valuation)
10,706.14 10,503.70
Frovisioh for Other Employee Dehhed Beheht
Schemes (F.V. of D.B.O. as per actuarial
valuation)
5,099.13 1,111.57
Frovisioh for Employee Dehhed Cohtributioh
Schemes
5,806.39 4,126.58
Provision for Preference Dividend 315.00 315.00
Provision for Tax on Preference Dividend 51.10 52.32
Provision for Contingencies - 3.20
TOTAL - 2 22,246.84 17,481.82
TOTAL - 1 + 2 72,523.15 63,151.43
Sundry Creditors include trade creditors ` 27,714.43 lakhs (Previous year ` 21,287.66 lakhs)
38
TH
59
8chodu|o Iorm|og part oI tho Froht aod Ioss Accouot Ior tho por|od oodod 31
st
March, 2011
SCHEDULE 6 (A) : lNCOME FFOM SEFVlCES FENDEFED AND
CONSTRUCTION CONTRACTS
(` in lakhs)
Particulars 2010-11 2009-10
i) Income from Services Rendered 42,323.38 26,150.55
ii) Income from Construction Contracts 21,814.58 34,326.98
TOTAL 64,137.96 60,477.53
SCHEDULE 6 (B) : CURRENT BUSINESS INCOME
(` in lakhs)
i) Interest from Bank (Tax deducted at Source ` 351.11 lakhs)
(Previous Year ` 330.85 lakhs)
3,617.80 3,857.01
TOTAL 3,617.80 3,857.01
SCHEDULE 6 (C) : OTHER INCOME
(` in lakhs)
i) Froht oh Sale / Disposal of Fixed Assets 2.06 1.42
ii) Interest from
(a) Income Tax Department 191.67 208.45
(b) Others 0.08 2.56
iii) Interest on Advance to Employees for conveyance and House Building 0.67 1.05
iv) Income from Township 616.44 641.75
v) Income from Dividend 2.50 2.50
vi) Miscellaneous Income including gain on conversion of foreign exchange
` NIL (CPLY ` 0.02 lakhs)
246.95 246.64
TOTAL 1,060.37 1,104.37
38
TH
60
st
March, 2011
SCHEDULE 6 (D) : ACCRETION / (DECRETION) TO JOB-IN-PROGRESS
(` in lakhs)
i) Closing Job-in-Progress (Consultancy) 408.16 919.08
ii) Opening Job-in-Progress (Consultancy) 919.08 1,577.35
ACCRETION/(DECRETION) (510.92) (658.27)
SCHEDULE 7 : FAYMENTS TO AND FFOVlSlONS FOF EMFLOYEES
(` in lakhs)
1. Salaries 8 Wages 20,178.29 17,809.68
2. Bonus 5.19 10.21
3. Companys Contribution to Provident Fund and Family Pension Fund 1,480.69 1,365.25
4. Superahhuatioh Behehts 6,810.26 1,167.68
5. Leave Travel Concession - 426.52
TOTAL 28,474.43 20,779.34
SCHEDULE 8 : SOCIAL AMENITIES
(` in lakhs)
1. Education 10.43 34.63
2. Medical 553.56 487.79
3. Social & Cultural Activities 53.96 43.29
4. Rent (Residential) 10.02 30.28
5. Premium for Group Term Insurance 12.16 17.61
6. Staff Welfare (Others) 530.26 401.84
TOTAL 1,170.39 1,015.44
38
TH
61
st
March, 2011
SCHEDULE 9 : OTHEF EXFENSES AND FFOVlSlONS
(` in lakhs)
1 Expenses on Foreign Experts 5.51 2.73
2 Travelling Expenses 1,200.94 1,434.08
3 Foreign Deputation 214.48 176.78
4 Maintenance & Repairs to Buildings 517.50 545.79
5 Repairs (Others) 31.99 52.90
6 Stores & Spares consumed 77.20 77.20
7 Printing & Stationery consumed 170.57 125.48
8 Expenses on Computer Consumables 55.75 49.69
9 Rent (Non-residential) 43.11 44.00
10 Rates & Taxes 21.35 21.59
11 Advertisement & Publicity 209.91 179.28
12 Auditors Remuneration : Fees 2.50 1.50
Other services 0.40 0.40
Expenses 2.10 5.00 2.10 4.00
13 Quarterly Audit Fees and Expenses 3.00 3.00
14 Insurance 6.93 6.98
15 Expenses on Export Market Development - 0.06
16 Training Expenses : Inland 37.99 44.53
Foreign 0.10 38.09 - 44.53
17 Postage, Telephones & Telegraphs 171.25 161.54
18 Computer Services 173.88 207.21
19 Electricity Charges 478.23 456.13
20 Legal & Professional Charges 30.79 26.96
21 Assets Charged to Revenue 2.20 6.66
22 Miscellaneous Expenses 424.67 330.36
23 Fees Bill Withdrawh 53.12 382.95
24 Expehses oh VFS Loah 1.55 2.28
25 Expenses on Corporate Social Responsibility 247.87 48.02
26 Provision for Bad & Doubtful Debts 86.65 1.19
27 Bad Debts Writteh Off 9.71 45.73
28 Loss on Sale / Disposal of Fixed Assets 4.64 19.28
29 Deferred Revenue Expenses written off - 14.64
30 Expenses on Liquidated Damages 46.25 2.59
31 Provision for LD Recovered by Clients 88.99 -
32 Service Tax 55.30 44.45
33 Provision for Claims Recoverable - 7.28
34 STDS Certihcate Feceivable Writteh Off 2.66 -
35 lTDS Certihcate Feceivable Writteh Off 136.66 9.12
36 Provision for Doubtful Deposit with Others 2.75 0.15
37 Provision for Doubtful Earnest Money Deposit 0.76 0.09
TOTAL 4,619.26 4,534.72
38
TH
62
st
March, 2011
SCHEDULE 9A : INTEREST AND FINANCE CHARGES
(` in lakhs)
A) INTEREST CHARGES
1 Interest on loan from Banks 16.57 27.43
2 lhterest oh loah from Bahks for VFS 122.74 192.74
Less : Subsidy from Government of India 61.37 61.37 96.37 96.37
3 Interest on Government Guaranteed Bond 604.62 775.82
Less : Subsidy from Government of India 288.29 316.33 370.05 405.77
4 Interest on Computer Loan (Government) - 2.95
TOTAL (A) 394.27 532.52
B) FINANCE CHARGES
1 Bank Charges 17.50 15.77
2 Bank Guarantee Commission Charges 43.44 37.81
3 Guarahtee Fee to Goverhmeht of lhdia for VFS Loah 120.00 155.00
Less : Waival of Guarahtee Fee by Goverhmeht of lhdia 120.00 - 155.00 -
TOTAL (B) 60.94 53.58
TOTAL (A) + (B) 455.21 586.10
38
TH
63
st
March, 2011
SCHEDULE 10 : ADJUSTMENT RELATING TO THE EARLIER
YEARS
(` in lakhs)
Sl.
No.
Particulars
2010-11 2009-10
DEBIT CREDIT DEBIT CREDIT
1 Salaries 8 Wages - - 4.57 -
2 Depreciation and Amortisation 32.16 0.09 1.78 0.08
3 Staff Welfare 0.27 - - -
4 Finance Charges 0.20 - - -
5 Rent (Residential) - - 2.16 -
6 Repairs and Maintenance 0.36 4.02 19.32 0.41
7 Electricity Charges - - 7.61 1.41
8 Medical Expenses - - 0.27 -
9 Printing and Stationery 0.48 - - -
9 Telephone Charges 0.14 - 0.40 -
10 Insurance Charges - - - 10.25
11 Payment to Sub-contractors 0.94 0.15 5.87 0.28
12 Miscellaneous Expenses - 1.00 1.23 -
13 Income from Services Rendered 24.46 1.85 9.19 120.15
14 Service Tax 1.58 37.84 2.42 7.28
15 Leave Encashment - - 0.17 -
16 Travelling Expenses - 0.15 1.53 -
17 Computer Services 0.50 - 0.38 -
18 Earnest Money Deposit with Clients Charged - - 0.25 -
19 lTDS Certihcate Feceivable Charged - - 3.60 -
20 STDS Certihcate Feceivable Charged - - 25.45 -
TOTAL 61.09 45.10 86.20 139.86
NET DEBIT / (CREDIT) 15.99 (53.66)
38
TH
64
FAFT - lV OF SCHEDULE Vl
a|aoco 8hoot Abstract aod 6ompaoy's ooora| us|ooss Froh|o
(` In Lakhs)
I Registration Details
Registration No : 01199
Balance Sheet Date
31
Date
3
Month
2011
Year
II Capital Raised during the year
Public Issue Rights Issue
NIL NIL
Bonus Issue Private Placement
NIL NIL
III Position of Mobilisation and Deployment of Funds
Total Liabilities
31897.67
Total Assets
31897.67
Sources of Funds :
Paid up Capital
10313.84
Reserves & Surplus
12424.86
Secured Loan
3.83
Unsecured Loan
8507.92
Deferred Tax Liability (Net)
647.22
Application of Funds :
Net Fixed Assets
7316.99
Work-ih-Frogress
221.49
Investments
511.92
Net Current Assets
23847.27
IV Performance of the Company
Turnover
64137.96 (#)
Total Expenditure
54849.16
Froht/(Loss) Before Tax
14092.80
Froht/(Loss) after Tax
9368.49
Earnings per Share (`)
22.43
Dividend Rate %
0.00%
(#) Does not include :
a) Current Business Income 3617.80
b) Other Income 1060.37
c) Provision no longer required written back 633.56
d) Provision for Contingencies written back 3.19
e) Accretion/(Decretion) to Job-in-Progress (510.92)
4804.00
V Generic Names of Three Principal Products/Services of the Company
Item Code No. : --
Product Description : Rendering Engineering and Consultancy Services
Item Code No. : --
Product Description : Project Management and Technical Services
Item Code No. : --
Product Description : Execution of Construction Contracts including Supply of Equipment and Components.
Sd/- Sd/- Sd/- Sd/-
(RAVI BAMBHA) (S. CHATTOPADHYAY) (J. MATHEW) (A.K. GHOSH)
COMPANY SECRETARY GENERAL MANAGER (FINANCE) DIRECTOR (PROJECTS) CHAIRMAN-cum-MANAGING DIRECTOR
38
TH
65
SCHEDULE 11 : SIGNIFICANT ACCOUNTING POLICY AND NOTES
TO THE ACCOUNTS 2010-11
I. ACCOUNTING POLICY
1. Basis of preparation of nanciaI statements :
1.1 The hhahcial statemehts are prepared uhder the historical cost cohcept oh accrual basis ih
accordance with generally accepted accounting principles.
2. Fixed Assets :
2.1 Fixed assets including lease-holds are stated at cost including expenses incidental to
acquisition and installation and includes amount added on revaluation of certain land and
buildings less accumulated depreciation.
2.2 Assets purchased during the year costing upto Rs.1000/- each are charged to revenue.
2.3 The cost of any software purchased initially along with the computer hardware is capitalized
along with the cost of the hardware. However, expenditure incurred on acquisition of
software, which is not an integral part of related hardware, is treated as intangible assets
3. Depreciation & Amortisation
A. Tangible Assets
3.1 Depreciation on Fixed Assets is provided on Straight Line Method at the rates and in the
mahher prescribed ih Schedule XlV of the Compahies Act, 1956 (as amehded), read with
Section 205(2)(b) of the said Act, except for the following which are depreciated at the rates
mentioned against them on the basis of managements estimate of their useful life.
a) Internal Partition 6.33%
b) Air-cohditiohihg machihery, Foom Aircohditioher 8 Water Coolers 7.07
c) Assets of value in excess of Rs. 1000/- and upto Rs. 5000/- each 100%
d) On revalued assets depreciation is charged over useful life of the assets w.e.f. 31.03.2000.
3.2 Leasehold assets are written off over the lease period.
B. Intangible Assets
3.3 Expenditure incurred on acquisition of technical know-how and engineering materials is
treated as ihtahgible assets ahd is amortised over a period of hve years.
3.4 Expehditure ihcurred oh acquisitioh of software is amortised over a period of hve years
from the year of acquisition. However, software individually costing upto Rs.5,00,000/- is
fully amortised in the year of acquisition.
4. Investments
4.1 Investments held or intended to be held for a period exceeding one year are grouped under
long-term investments.
4.2 Unquoted investments which are valued at average cost of acquisitions, provision for
diminution is made other than temporary, on individual investment basis.
4.3 Quoted investments are valued at cost or market value whichever is lower.
38
TH
66
5. Inventories
5.1 Closing stock of stores & spares, printing & stationery items and other consumables are valued
at lower of cost, on First in First Out (FIFO) basis or on net realisable basis. Consumption of
the above items during the year is arrived at the end of the year by deducting such value of
physical stock in hand from the value of opening stock plus purchases.
6. Engineering Research & Development
6.1 Expenditure incurred on Engineering Research and Development activities are charged to
revenue in the relevant years.
7. Foreign Currency Translation
7.1 All Current Assets and Current Liabilities are translated at the relevant rates of exchange
prevailihg at the year ehd ahd the trahslatioh differehces are recoghised ih the proht ahd
loss account.
8. Income
8.1 Engineering & Consultancy Services
8.1.1 Credit for Engineering & Consultancy services rendered to the clients against
cohtracts or Letters of lhteht or Work orders or exchahge of letters which stipulate
Lump sum fee is taken on the basis of technical estimate of percentage of progress
achieved at the ehd of the Fihahcial year at hxed levels (oh the basis of value of jobs)
after deducting ten percent and this ten percent is taken into account in the year in
which 100% progress is achieved.
8.1.2 Credit for services rendered otherwise than Lump sum fee basis is recognised at
100 value of the bills raised for the services rehdered durihg the hhahcial year.
8.1.3 Credit for reimbursable expenses is taken at 100% value of such bills raised during
the hhahcial year.
8.2. Execution of Projects
8.2.1 Credit for execution of projects to the clients against contracts or letters of Intent or
work orders or exchahge of letters which stipulate hxed price is takeh ihto accouht
oh the basis of percehtage of progress achieved durihg the hhahcial year.
8.2.2 Credit for sale of spares is taken at 100% of the spares supplied.
8.2.3 Credit on account of escalation, additional or extra claims and other miscellaneous
items like project insurance claims is taken at 100% value as and when they are
admitted. Where escalatioh ih price is provided ih the cohtract with formulae the
same is recoghised as accrued durihg the hhahcial year as per the provisiohs of the
contract.
8.3 OTHERS
8.3.1 Dividend income from Investments is recognised as and when the right to receive
the payment is established.
9. Job-In-Progress
9.1 For Lump sum Fee Engineering & Consultancy jobs, where the progress achieved in respect
of a job is below the Fixed Level, the lower of cost or value of the work done, computed on
the basis of technical estimate of the percentage of progress achieved, is carried forward
under Job-in-progress.
38
TH
67
9.2. Where the work has started oh the basis of job allotted by LOl / ahy commuhicatioh from the
client, but the fee is yet to be settled, the cost incurred against such jobs is carried forward
under job-in-progress. However, in cases where minimum undisputed terms have been
agreed to by the client, income has been accounted for on the basis of such undisputed
terms.
10. EmpIoyee Benets
10.1 The provisiohs towards employee behehts as applicable are made based oh the actuarial
valuatioh as at the ehd of the year ahd charged to the Froht 8 Loss A/c alohg with actuarial
gains/ losses as per Accounting Standard -15 (Revised).
However, payment of annual premium as determined and claimed by LIC towards Gratuity-
cum-Insurance Policy taken by Board of Trustees, MECON Gratuity Trust is charged to
Froht 8 Loss Accouht.
10.2 Expehditure oh termihatioh behehts (Voluhtary Fetiremeht Compehsatioh) is treated as
Deferred Revenue Expenditure. Such expenditure incurred upto 31.03.2006 is written-off in
hve years ahd the expehditure ihcurred thereafter is writteh-off ih equal yearly ihstalmehts
upto 31.03.2010.
11. Prior Period
11.1 Any expenditure or income relating to earlier years less than Rs. 10,000/- excepting
depreciation which is on actual basis are accounted for under the respective heads of
account in the current year.
38
TH
68
II. NOTES TO THE ACCOUNTS
Land
1. (i) Under Section 7 of Public Sector Iron & Steel Companies (Restructuring) and Miscellaneous
Provisions Act, 1978, all the lands measuring 118.95 acres for residential colony and 10.25
acres for the administrative building acquired by the Government of India for the erstwhile
HSL was trahsferred ih favour of MECON by the Gazette Notihcatioh dated 30.4.1978. Deed
of conveyance in this respect has not yet been executed by the Government of Jharkhand
in favour of MECON. Govt. of Jharkhand has been approached for deed of conveyance in
favour of MECON Limited and the matter is in progress. Out of the said land, 21.06 acres
have been allotted to SAIL, RDCIS, Ranchi in 1980-81 for which transfer deed is still pending.
The amount received / receivable for such transfer has been taken in the accounts.
(ii) Deed of conveyance has not been executed for 103.33 acres of land for township at Ranchi
acquired from Govt of Bihar by the Company in 1978-79. Govt. of Jharkhand has been
approached for deed of conveyance in favour of MECON Limited as the properties are now
situated in the state of Jharkhand and the matter is in progress. Pending execution of deed
of conveyance in respect of above, transfer deed in favour of SAIL, RDCIS, Ranchi for 7.43
acres of land and in favour of SAIL, MTI, Ranchi for 5.42 acres of land could not be executed.
The amount received / receivable for such transfer has been taken in the accounts.
(iii) 1.50 acres of land for township at Ranchi acquired from Govt. of Bihar for which no deed
of conveyance has been executed in favour of the Company. Govt. of Jharkhand has been
approached for deed of conveyance in favour of MECON Limited as the properties are now
situated in the state of Jharkhand and the matter is in progress.
Building
2. Residential buildings at Rourkela, Gross block Rs.5.12 lakhs (Previous year Rs.5.12 lakhs) and
at Durgapur, Gross block Rs.8.62 lakhs (Previous year Rs.8.62 lakhs) have been constructed on
the land belonging to SAIL for which the depreciation is being charged at the rate applicable for
Building.
3. Pending determination of the proportionate value of the land in respect of Buildings acquired
at Gaziabad, Navi Mumbai ahd Kolkata the cost of acquisitioh of ats has beeh cohsidered as
Building and depreciation thereon has been provided at the rate as applicable for Building.
4. Contingent liabilities not provided for or not acknowledged as debts :
(Rupees in Lakhs)
Current Year
2010-11
Previous Year
2009-10
i) Claims against Company under liquidated
damage clause by the Clients.
84.93 116.68
ii) Letters of Credit opened with Bankers for
purchase of equipment & components and
technical services.
913.22 30.22
iii) Guarantees given by Banks for and on behalf of
the Company to different clients etc.
13193.83 11755.92
iv) Income tax in dispute / under appeal 1446.63 1386.53
v) Sales tax demands pending appeals with
Appellate Authorities.
1925.82 1650.88
38
TH
69
(Rupees in Lakhs)
Current Year
2010-11
Previous Year
2009-10
vi) Claims against Company by Contractors/
Suppliers, etc.
1308.12 933.75
vii) Claims against electricity supply by JSEB 148.65 148.65
viii) The Regional Provident Fund Commissioner-II,
Jharkhand, Ranchi ordered for payment of Rs. 385.27
Lakhs by way of interest and penalty to the BOT,
arising out of delayed remittances by the company
to the BOT, MECON Employees PF Trust. The
compahy disputed the same ahd hled ah appeal with
EPF, Appellate Tribunal, New Delhi after depositing
Rs. 96.32 Lakhs as interim adhoc advance.
385.27 385.27
5. Estimated amount of contracts/orders remaining
to be executed/supplied on capital account and
not provided for.
100.09 41.49
6. i) Expenses on Advertisement & Publicity
a) Advertisement 55.74 161.53
b) Publicity 7.80 63.54 17.75 179.28
ii) Expenses on Public Relations Establishment 60.60 49.82
7. Expenses on Engineering, Research & Development
Wihg/establishmeht, ihcludihg capital assets.
75.25 64.52
8. Particulars of remuneration of whole time Directors
including Managing Director :
i) Salaries & Allowances 62.38 82.26
ii) Companys Contribution to Provident Fund 5.19 9.34
iii) Employee Behehts 74.17 141.74 167.09 258.69
Remuneration excludes wage revision provision and
medical facilities provided at Companys hospital,
monetary value of the same not ascertainable.
9. Earnings in Foreign Exchange received during the year
(on cash basis) Fees for services rendered.
618.08 601.89
10. Expenditure in Foreign Currency remitted/actually
spent during the year. (on cash basis)
i) Engg. Fees 111.71 982.93
ii) Other matters 172.71 50.00
TOTAL 284.42 1032.93
11. Value of imports (Calculated oh ClF basis)
i) Equipment, components & spares parts used in
construction contract
12.81 894.40
ii) Capital goods Nil Nil
TOTAL 12.81 894.40
38
TH
70
12. In view of the legal opinion obtained on 6.11.90 by the Company from Solicitor General of India,
disclosure of quantitative detail of sales, purchases, jobs in progress (both opening & closing)
in respect of equipment & components are not required in respect of Companies rendering
Consultancy & Supply Services. Further, in view of varieties of materials in different Projects,
which cannot be categorised in different groups, it is not possible to list out quantitative details.
13. The Company is providing consultancy and detail engineering services to the modernization
project of SAIL plants (i.e. BSL, BSP, RSP and DSP) and mines based on the written communication
from SAIL for which formal contract are likely to be signed shortly. Income for these jobs for the
year has been estimated at Rs.10,316.07 lakhs based on the consistent conservative policy of the
company (i.e. percentage progress or money received from client whichever is lower) and the
same is included in income from services.
14. Income from services includes Rs.87.03 lakhs realized from M/s MISL relating to old dues for
providing Consultancy Services.
15. Payments against Supplies & Services from SSI Units are generally made in accordance with
agreed credit terms and there is no overdue amount.
16. There is ho reported Micro, Small ahd Medium Ehterprise as dehhed ih the The Micro, Small
and Medium Enterprises Development Act, 2006, to whom the company owes dues.
17. Considering the nature of companys business and the type of assets held by the company,
there is no indication of loss due to impairment of assets as at 31.03.2011 as per Accounting
Standard -28.
18. Owing to uncertainty, income from foreign jobs is recognized on receipt of fees from the client
against work done/progress achieved.
19. The Cehtral Board of Direct Taxes vide its Notihcatioh dated 25th September 2001 revised
the rules for computatioh of certaih perquisites. The Employees' Uhioh/Associatioh hled writ
petitiohs with the Hoh'ble High Court at Kolkata challehgihg the above Notihcatioh. lh pursuahce
of Honble Courts orders, the amount of tax deducted at source on house perquisite w.e.f. 1st
April 2003 upto 31st March 2005 has been kept separately as term deposits with banks amounting
Fs.303.15 lakhs (Frevious Year Fs. 290.77 lakhs), pehdihg hhal decisioh of the Hoh'ble Court.
Such deductions and deposits after 31st March 2005 have been made in accordance with
amended law/judicial decisions. However, there is no impact on accounts of the company as
the additional tax, if required, shall be recoverable from the employees.
38
TH
71
20. Particulars of Provisions :
(Rs. in lakhs)
PARTICULARS Prov.
for
Bonus
Prov. for Bad
& Doubtful
Debts
Prov.
For L.D.
recovered
by Clients
Prov. for
Claims
Recovera-
ble
Prov. For
Doubtful
Earnest
Money
Deposit
Prov. for
Doubtful
Deposit
with
Others
Prov. For
doubtful
advances
to
suppliers/
sub-
contractors
Prov. For
contin-
gencies /
expected
loss
Opening Balance as on 01/04/2010 4.74
(5.72)
504.45
(1486.06)
7.92
(79.38)
8.04
(7.45)
6.71
(6.62)
184.49
(184.34)
182.09
(182.09)
3.20
(566.64)
Add : Provision made during the year 2.03
(4.74)
86.65
(1.19)
88.99
(NIL)
NIL
(7.28)
0.76
(0.09)
2.75
(0.15)
NIL
(NIL)
NIL
(NIL)
Less : Provision utilised during the
year
4.74
(5.72)
6.26
(244.04)
NIL
(71.46)
0.56
(6.69)
0.15
(NIL)
0.15
(NIL)
0.15
(NIL)
NIL
(NIL)
Less : Unused provision reversed
during the year
NIL
(NIL)
18.98
(738.76)
NIL
(NIL)
NIL
(NIL)
NIL
(NIL)
NIL
(NIL)
NIL
(NIL)
3.20
(563.44)
Closing Balance as on 31.03.2011 2.03
(4.74)
565.86
(504.45)
96.91
(7.92)
7.48
(8.04)
7.32
(6.71)
187.09
(184.49)
181.94
(182.09)
NIL
(3.20)
Figures in bracket relates to previous year
21. Related Party Disclosures AS-18 :
i) The list of Related Parties and their relationships are given below :
Nature of Relationship Name of the related party
Key Management Personnel Shri L.R. Singh (upto 30.09. 2010)
Shri A.K. Ghosh
Shri K.K. Mehrotra
Shri J. Mathew (w.e.f.26.05.2010)
Shri U.P. Singh
Shri S. Machendra Nathan (w.e.f 14.06.2010)
Shri B. Ramesh Kumar (w.e.f 31.01.2011)
Shri M.R. Pasrija (w.e.f. 25.01.2011)
Shri G. Ojha (w.e.f. 20.01.2011)
Nature of Relationship Name of the related party
Joiht Vehture Compahy M/s. Metallurgical & Engineering Consultants (Nigeria)
Limited
38
TH
72
ii) The details of transactions between the Company and the Related Parties are given below:
(Rs. in Lakhs)
Sl.
No.
Nature of transactions
Key Management
Personnel
J V Schedule No.
2010-11 2009-10 2010-11 2009-10
a) Managerial Remuneration 67.57 91.60 - - 7: Payment to and Prov. for
Employees
b) Employee Behehts 74.17 167.09 - - 5,7,8 & 9
c) Sitting Fees NIL 0.02 - - 9: Other expenses and
provisions
d) Receipts against Foreign
Deputation exp. etc.
- - NIL 7.05 9: Other expenses and
provisions (credit)
22. DiscIosure under AS-15 (Revised) on EmpIoyee Benets
A Dened Benet Scheme
Gratuity : Payable on separation @ 15 days salary for each
completed year of service to eligible employees
who render continuous service of 5 years or more,
subject to a maximum limit of Rs. 10.00 lakhs.
Leave Encashment : Payable on separation to eligible employees who
have accumulated earned leave and half pay
leave. Maximum limit of accumulation is 300 days
for earned leave and 240 days for half pay leave.
Encashment of accumulated earned leave is also
allowed upto 30 days once in a calendar year.
Provident Fund : 12% of Basic Pay & Dearness Allowance contributed
to the Provident Fund Trust by the Company.
Fost Fetiremeht Medical Behehts : Available to retired employees at companys
hospitals or a hxed amouht of Fs.2400/- p.a.
payableunder ODMT scheme.
Fost Fetiremeht Settlemeht Behehts : Payable to retiring employees for settlement at
their home town.
Employees' Family Beheht Scheme : Monthly payments to disabled separated
employees/legal heirs of deceased employees in
lieu of prescribed deposit till the notional date of
superannuation.
Long Service Award : Payable in kind on rendering 15 years of service
and also on rendering 30 years of service.
Retirement Gift : Payable in kind on retirement.
LTC/LLTC : Due to wage revision of non-executive employees,
one LTC payable in a block of four years to non-
executive employees. The old LLTC(1700km/ any
where in India) scheme is replaced by new Leave
Travel Assistance (LTA) for non-executives.
38
TH
73
B. ReconciIiation of Present VaIue of Dened Benet ObIigation
(Rs. in Lakhs)
1 2 3 4 5 6 7 8
Sl. Particulars Gratuity Leave
Encashment
Post
Retirement
Medical
Benets
Post
Retirement
Settlement
Benets
EFBS Retirement
Gift
Long
Service
Award
***
LTC/LLTC
***
F.V. of DBO as oh 1/4/2010 (Fecoghised) 6,987.36
(7,768.91)
10,503.70
(9,629.23)
441.39
(629.47)
182.97
(144.34)
134.38
(159.11)
35.92
(9.45)
7.97
(3.31)
308.94
(8.67)
1/5th of FV of DBO as oh 01.04.2007 -
-
-
-
-
-
-
-
-
-
-
-
1.51
(1.50)
30.64
(30.64)
1. Current Service Cost 369.90
(409.71)
877.94
(798.90)
-
-
8.90
(6.97)
-
-
1.75
(0.46)
1.80
(1.27)
-
-
2. Interest Cost 536.07
(563.68)
794.36
(671.19)
34.72
(45.82)
14.04
(10.32)
9.62
(11.00)
2.76
(0.47)
0.87
(0.51)
18.28
(2.81)
3. Contributions made -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4. Actuarial Loss / (Gain) 506.54
(-1232.75)
(227.37)
(764.45)
(22.78)
(43.28)
(10.41)
(34.86)
14.97
(6.98)
0.91
(31.95)
(0.26)
(3.33)
(174.49)
(14.08)
5. Plan Amendments -
-
-
-
-
-
-
-
-
-
-
-
-
-
65.43
(713.71)
6. Curtailment Loss / (Gain) -
-
-
-
-
(-240.15)
-
-
-
-
-
-
-
-
-
(-334.72)
7. Premium Paid (13.92)
(-15.67)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8. Past Service Cost -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9. Beheht Faid (1,690.55)
(-506.52)
(1,242.50)
(-1360.07)
(42.71)
(-37.03)
(15.90)
(-13.52)
(36.72)
(-42.71)
(6.08)
(-6.41)
(1.45)
(-1.95)
(114.53)
(-126.26)
F. V. of DBO as oh 31/03/2011
(Recognised)
6,695.40
(6,987.36)
10,706.13
(10,503.70)
410.63
(441.39)
179.60
(182.97)
122.25
(134.38)
35.26
(35.92)
10.44
(7.97)
134.28
(308.94)
*** Transitional Provision :
F.V. of DBO - Fecoghised (4/5) -
-
-
-
-
-
-
-
-
-
-
-
6.01
(4.50)
122.57
(91.92)
F.V. of DBO - Uhrecoghised (1/5) -
-
-
-
-
-
-
-
-
-
-
-
1.50
(3.01)
30.65
(61.30)
F.V. of DBO as oh 1/04/2007 - Total - - - - - - 7.51 153.22
Experience Gain/(loss) adjustments on
Plan Liabilities as on 31.03.2011
506.54 -227.37 -22.78 -10.41 14.97 0.91 -0.26 -174.49
Experience Gain/(Loss) adjustments on
955.89 -1,375.38 - -0.62 -10.17 -3.46 -0.87 -16.56
-31.73 -427.61 15.59 -0.28 -32.69 -0.41 -0.40 -19.77
-73.26 -367.57 -13.78 -0.24 11.22 0.03 -3.22 -73.38
Plan Assets as on 31.03.2011
14.77 - - - - - - -
-43.04 - - - - - - -
0.54 - - - - - - -
39.19 - - - - - - -
38
TH
74
C. Reconciliation of Fair Value of Plan Assets and Obligations
The company has wholly/partly funded the gratuity liability through a separate Gratuity Fund. The fair value of the plan assets is mainly based
on the information given by LIC through whom the investments have been made by the Fund. During 2010-11 the investments of the fund
is also made ih exi deposit accouht with Bahks. The recohciliatioh of fair value of assets of the Gratuity Fuhd ahd dehhed beheht Gratuity
obligations is as under :
(Rs. in Lakhs)
As on 31.03.2011 As on 31.03.2010 As on 31.03.2009 As on 31.03.2008
1. F.V. of Plan Assets (Opening) 5,622.65 3.473.70 3,232.97 3,021.58
2. Expected return on Plan Assets (Net) 471.97 393.21 299.51 239.05
3. Beheht Faymeht (1,686.04) (506.22) (115.16) (117.59)
4. Contributions made 2,005.00 2,305.00 55.84 50.74
5. Actuarial (Loss)/Gain 14.77 (43.04) 0.54 39.19
6. F. V. of Plan Assets (Closing) 6,428.35 5,622.65 3,473.70 3,232.97
7. F.V. of D.B.O. (Closihg) 6,695.40 6,987.36 7,768.91 2,633.06
Net Liability* / (assets) recognised in the Balance Sheet 267.05 1,364.71 4,295.21 (599.91)
* The Company expects to contribute the amount to the Gratuity Fund during the Year 2011-12 after considering the return on the investments.
D. Provident Fund
(Rs. in Lakhs)
AnaIysis of the dened Benet ObIigation As on 31.03.2011
Freseht value of dehhed beheht obligatiohs that are wholly uhfuhded 4,206.68
Freseht value of dehhed beheht obligatiohs that are wholly or partly fuhded 30,910.71
Dened benet obIigation due to rst time vaIuation 35,117.39
As on 31.03.2011
F.V. of PIan Assets as on 31.03.2011 due to rst time vaIuation 30,910.71
Net liability recognised in the Balance Sheet 4,206.68
For the hrst time the compahy has provided liability based oh actuarial valuatioh of Frovideht Fuhd as oh 31.03.2011. lh additioh, Compahy's
Cohtributioh paid/payable durihg the year to Frovideht Fuhd are recoghised ih the Froht ahd Loss accouht. For exempt Frovideht Fuhd Trust the
dehhed beheht obligatioh arises ohly if at ahy poiht of time ih future, the scheme has ihsufhcieht assets to meet guarahteed ihterest rate declared by
EPFO on employee corpus in provident fund.
The dehhed beheht obligatiohs, other thah Gratuity ahd Frovideht fuhd, are uhfuhded.
38
TH
75
E. Expenses recognised in Prot Loss Account for the year ended 31st March 2011
(Rs. in Lakhs)
1 2 3 4 5 6 7 8
Sl. Particulars Gratuity Leave
Encashment
Post
Retirement
Medical
Benets
Post
Retirement
Settlement
Benets
EFBS Retirement
Gift
Long
Service
Award
***
LTC/LLTC
***
1. Current Service Cost 369.90
(409.71)
877.94
(798.90)
-
-
8.90
(6.97)
-
-
1.75
(0.46)
1.80
(1.27)
-
-
2. Interest Cost 536.07
(563.68)
794.36
(671.19)
34.72
(45.82)
14.04
(10.32)
9.62
(11.00)
2.76
(0.47)
0.87
(0.51)
18.28
(2.81)
3. Actuarial Loss / (Gain) 491.77
(-1189.71)
(227.37)
(764.45)
(22.78)
(43.28)
(10.41)
(34.86)
14.97
(6.98)
0.91
(31.95)
(0.26)
(3.33)
(174.49)
(14.08)
4. Past Service Cost -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5. Plan Amendments -
-
-
-
-
-
-
-
-
-
-
-
-
-
65.43
(713.71)
6. Curtailment loss / (gain) -
-
-
-
-
(-240.15)
-
-
-
-
-
-
-
-
-
(-334.72)
7. Expected Return on Plan Assets (485.89)
(-408.88)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
SUB TOTAL 911.85
(-625.20)
1444.93
(2234.54)
11.94
(-151.05)
12.53
(52.15)
24.59
(17.98)
5.42
(32.88)
2.41
(5.11)
(90.78)
(395.88)
*** Transitional Provision
1/5 of F.V. of DBO as oh 01.04.2007 -
-
-
-
-
-
-
-
-
-
-
-
1.50
(1.50)
30.64
(30.64)
TOTAL 911.85
(-625.20)
1444.93
(2234.54)
11.94
(-151.05)
12.53
(52.15)
24.59
(17.98)
5.42
(32.88)
3.91
(6.61)
(60.14)
(426.52)
Actual return on plan assets 500.66
(365.84)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
F. Dened Contribution Scheme (w.e.f. 01.01.2007)
Post Retirment Pension Benets 12% of Basic Pay & Dearness Allowance for executive employees to be contributed by the Company
Post Retirment MedicaI Benets 1.19% of Basic Pay & Dearness Allowance for executive employees to be contributed by the Company.
G. Expenses recognised in Prot Loss Account for the year ended 31st March 2011
1 2
Post Retirement MedicaI Benets
151.55
Sl. Particulars Post Retirment Pension Benets
Expenses charged to P&L A/c
(Rs. in Lakhs)
1528.26
H. Actuarial Assumptions
1. Discount Rate (per annum) 8.30% p.a.
2. Mortality Rate lhdiah Assured Lives Mortality (1994-96) Modihed Ultimate
3. Withdrawal Fate (per ahhum) 0.10 to 0.50 depehdihg oh age group. 10 at at all
age groups for Contract Employees
4. Medical ihatioh 12 for hrst 5 years ahd thereafter 8
5. Expected rate of return on Plan
Assets
9 9.5% p.a.
6. The estimate of future salary ihcrease cohsidered ih actuarial valuatioh, takes ihto accouht ihatioh rate, sehiority, promotioh ahd other
relevant factors.
38
TH
76
23. Disclosure under AS 7
(Rupees in Lakhs)
2010-11 2009-10
i) Contract Revenue recognized as revenue for the period 64137.96 60477.53
ii) Cohtract costs ihcurred ahd recoghized prohts (Less
recognized losses) upto the reporting date
245714.00 172872.86
iii) Advances received 13895.09 16375.58
iv) Gross amount due from customers for contract work 18306.19 6201.64
v) Gross amount due to customers for contract work 21707.17 19541.24
24. Disclosure under AS-22
Accounting for Taxes on Income.
The deferred tax oh timihg differehces betweeh book proht ahd taxable proht for the year is accouhted
for applying the tax rates and laws that have been enacted or substantively enacted as on the balance
sheet date. Deferred tax assets arising from timing differences are recognised to the extent there is
a reasonable certainty that the assets can be realised in future. Below is the detail of net deferred tax
liability that has been accounted for as on 31st March 2011.
(Rupees in Lakhs)
As on 31.03.2011 As on 31.03.2010 #
Deferred Tax Liability
Difference between book and tax
depreciation
891.91 915.29
Others 56.43 57.78
TOTAL (A) 948.34 973.07
Deferred Tax Assets
Provision for bad & doubtful debts 77.72 59.17
Provision for Gratuity 66.85 433.06
Others 156.55 132.73
TOTAL (B) 301.12 624.96
Net Deferred Tax Liability TOTAL (A-B) 647.22 348.11
# Restated during 2010-11
38
TH
77
Intangible Assets- Computer Software
i) The amortization rates used - for individual software costing above Rs 5 lakhs, 20% amortisation
each year over a period of hve years from the year of acquisitioh ahd for ihdividual software
costing upto Rs. 5 lakhs, 100% amortization in the year of acquisition.
ii) The amortization method used Straight line method
(Rupees in Lakhs)
2010-11 2009-10
i) Gross carrying amount (Opening) 380.06 276.85
ii) Gross carrying amount (Closing) 418.18 380.06
iii) Accumulated amortization (Opening) 213.22 138.93
iv) Amortization recognized during the period 89.44 74.29
v) Accumulated amortization (Closing) 302.66 213.22
As per Accouhtihg Stahdard -27 'Fihahcial Feportihg of lhterest ih Joiht Vehtures', the Compahy's
share of ownership interest, assets, liabilities, income, expenses, contingent liabilities and capital
commitments in the joint venture company, incorporated in Nigeria, are given below:
(Rs. in Lakhs)
Name of the JV
Company
% of
Companys
ownership
Interest
Assets Liabilities Income Expenditure Contingent
Capital
Commitments
Metallurgical
& Engineering
Consultants
(Nigeria) Limited
50
(50)
162.63
(196.02)
264.01
(279.48)
12.67
(23.39)
35.20
(49.96)
NIL
(NIL)
NIL
(NIL)
The above hgures are based oh the audited accouhts of Metallurgical 8 Ehgiheerihg Cohsultahts
(Nigeria) Ltd. for the year ending 31.12.2010. Reporting currency of Metallurgical & Engineering
Consultants (Nigeria) Ltd. is Naira.
Assets and Liabilities are reported using the closing rate of exchange as on 31.12.2010 whereas
Income and Expenditure are reported using the average exchange rate in force during the year 2010
as available.
27. During the year Rs. 247.87 lakhs is allocated/provided towards CSR Fund for CSR expenditure in line
with the Guidelines on CSR issued by the Department of Public Enterprises, Govt. of India.
28. Employees Provident Fund Organisation, Ministry of Labour & Employment, Govt. of India vide its
hotihcatioh dated 18.03.2011 ahd 27.04.2011 has raised the rate of ihterest from 8.5 p.a to 9.5 p.a.
for 2010-11 and for 2011-12 till the rate of interest is declared for 2011-12. The company has provided
liability for Rs.4206.68 lakhs based on actuarial valuation of PF as on 31.03.2011 considering increase
in rate of interest as declared by EPFO.
29. Frevious year's hgures have beeh regrouped / recasted wherever hecessary.
30. Schedules 1 to 11 form an integral part of accounts.
38
TH
78
BUSINESS SEGMENT (PRIMARY SEGMENT)
REPORTING FOR 2010-11
(` In Lakhs)
SEGMENTS METALS POWER INFRASTRUCTURE OIL AND GAS TOTAL
Particulars Current
Year
Previous
Year
Current
Year
Previous
Year
Current
Year
Previous
Year
Current
Year
Previous
Year
Current
Year
Previous
Year
Segment Revenue 54,514.68 52,484.35 2,770.36 2,292.80 3,237.83 2,767.31 3,615.09 2,933.07 64,137.96 60,477.53
Segmeht Fesult [Froht/
(Loss)]
10,789.92 7,466.59 734.60 909.58 (294.50) (1,242.72) 340.64 1,019.02 11,570.66 8,152.47
Unallocated Corporate
Expenses
1,822.01 1,471.65
Operatihg Froht/(Loss) 9,748.65 6,680.82
Interest & Finance Charges 455.21 586.10
Interest Income 3,810.22 4,069.07
Income Taxes 4,724.31 4,207.17
Non Operating Loss 4.64 33.92
Non Operating Income 867.95 1,047.31
Accretion / (Decretion) to
Job-in-Progress
(510.92) (658.27)
Frovisioh Writteh Back 636.75 1,950.53
Net Froht/(Loss) 9,368.49 8,262.27
Capital Employed 31,164.26 25,188.90
38
TH
79
NOTES ON SEGMENT REPORT 2010-2011
1. Business Segments" have beeh idehtihed as Frimary Segmehts ih accordahce with the guidelihes of
Accouhtihg Stahdard-17" oh Segmeht Feportihg issued by lCAl cohsiderihg the returh/risk prohles
of the businesses, the organisation structure and the management reporting system.
2. As a part of business restructuring process, the core business activities of the organisation have been
regroupevd classihed ihto four Strategic Busihess Uhits" (SBUs) ih lihe with the recommehdatioh of
the Consultants w.e.f. 2004-05 as below :
Segment Denition :
(i) Metals includes Iron & Steel, rolling Mills, Non-Ferrous, Raw Materials & Mining, Refractories
etc.
(ii) Power includes Power plant - Thermal & Hydel, Transmission & Distribution, RLA & RMU
studies etc.
(iii) Oil & Gas" ihcludes Oil 8 Gas pipelihes, Fetro-chemical 8 Fehheries, FOL Depots, Fetail Outlets
etc.
(iv) Infrastructure includes Civil & Structural Engineering, Architecture & Town Planning, Ports
& material Handling, Roads, Highways, Bridges, & Flyovers, Defence, Environmental & Hydro
engineering, Management Advisory Services, Information Technology etc.
3. Segment Revenue comprises income from Construction Contracts and income from Engineering &
Consultancy Services for the Jobs in India and abroad.
4. Unallocated corporate expenditure includes expenses incurred on corporate services provided to
Business Segments and other expenses not allocable on a reasonable basis to Business Segments.
5. Disclosure of Information on Geographical Segment (Secondary Segment) is not made considering
the risk and return of business activities / operations being carried out by the company which are not
affected by the geographical conditions / locations of the Business Centres/Project Sites etc.
6. Fixed assets used in the companys business or liabilities contracted are common in nature for all
ahd cahhot be attributed to a specihc segmeht. Therefore, segmeht wise assets, liabilities ahd capital
employed cannot be disclosed.
UU,U -}xyw
U
nr-rr tfa
nr-f-a n
= r r r f
ta t fqa
r-r, ;tft,
-t fr
frr
la(zi+ an
..
--
..UU
()
.
()
.U,...
..U,...
..U
.UU
li i
li o ,,
li - 66
li----- i ln( 7777
inill^^| -i(i +lin l((i 30
++i| l(i-l(-i )( l(ii llllnnnn((( 36
l^l-n liii +linn llnn(( 43
l(-i| (i zzzzccc++cccc-++++++++ lllll)))) iiillll((((llliii ii--|||iii iiii lllnnn(( 46
iiin ll ii --rrii ii-||i || ll--lliiii 551
+++.ccc...zzzzcccc+++++++ iii iiiiiiillll-----iiiinnn nnn--- 52
++..cc.zzcc++ i --inn rr)) ((i i ii )( rrill ii 5533
((((irrrr l(((((iiii (-----i l(li) 55554
lli 5566
|||| VI VI iii iiiiiiii^^^ - IVVVV ((nn- i )))((( ||| |||| iii---ii
iiii iiii;;;)))
7722
ii |ln ii iii +lin l-lliii 74
(i i i(i ln( )( n-+i| l-lii 91
38ok okf"kZd izfrosnu 2010&2011
UUcU...U
6
la(zi+ an
i-t-+i la(zi+
| ). i. lr (c.cs.zc+c n)
| ). . iii (c+.+c.zc+c )
la(zi+i
| ). . iii, li ((ilil)
| . . -rii, li (liil|)
| . -i, li (lii)) (zc.cs.zc+c )
| . |. lr, ii..., li
| ). - ii, ii..., li (++.cc.zc+c )
| |. ini, li (zc.c+.zc++ )
| )-. i. li, li (zs.c+.zc++ )
| +|. -i -i, li (+.c+.zc++ )
+ai l
| l( +i-ii
ati-+i+ (l-i)
| ). ;iii
nii-ii+i
a va, +, i, v +,
i- iiiî
l,n| n, iii î|
îiii i,
ii -i-, +ii
i| - +cc+ (nii)
++
iin| --- +
l + i ;li
;l i(| +
;; +
i;|i;|i; +
)l +
)|)| +
i +
i;- + i ;li
+ i ;li
UUcU...U
7
l-ii i za1a-za11 + lnv la(zi+ii +i lu(a
ii ;| |i - i; ri |
ii(i r|
l i | zcz i-|- i--
; i (l-i i) i i- ^ln r | r l-|
i-- (i i- i,|) (|n- l ^,
l - | ii| )( -( i; i - ; i
(iii ) ii| ii-r|-ii -- - i |
i- l(ii - ri ^|| -i
ii r| ; |i - i; | ii(i r |
(in -r | ) | ii î(i |
(n-i va+iv-+ i^| (i-- +z i-|-
zsc i-|- | iil|i
rn r- iii li r| (n-i ll(
ii - -i-| iii n r) i|
+li| ;|l| i i ri i r )(
l(-nn ;|l| i ,zc++ n i
ri | iii r|
ii -il- ;--|, -i (n-i
va+iv-+ l) ri- --i( i-
l) li- liil|, i-i| )( i
ii | iln rn a+ia i iii
li r| ; i-i l) +li|
liil| i i r r| i li i
i r )( ii l(-nn liil| i +s
, zc++ n i ri | iii r|
n,+ivi i-i +iv .
l) +iv )( --i( ii -i i
r r| ;|l| ^ln )( iiln
i -i r|
(i,
i+ la(zi+ii +i +ai + ina +liu
as ili+ lu(a i + ii a1 ai,
za11 +i ai-u tv l-ii i + nii + li
+i uu +u tv -aui ti ti t+
lu(a + ii illi+ nii-ii+i +i
lu(a v +ai + ni -iiu + la+
v nii-ii+ +i lc-lii na t+
1,a +i-lai(a +i nnl+i
r -i n r) ril -ini ri r| r
l i| | i l(-i| (i - i
li - (i^|i ii li r| ; ii r|
l(-i| li - i| -i ii ri r| |
; (i li -- iii i ril li
r| ; (i -i | ^;,li( i|
i-| -r-( | +r ln-i liii
- l-llin iil- r
vavaii ll--, ri+i r| +i
-i|^ î - .c )--||) -i
i-ni (i )|n ;-in -iiln
i iii a+ia i ii r| a+ia ,ii
-(|i li î + n i r l^
i-- --| i-- () (r-i-
i-i| -i) r| +cc (^-|- l-
i- i î i ii li î r nii
i-i nr|i, |(i l-ii i )(
i( iiiini i
i i| r|
vvni --il iiii zcz
i-|- i-- i l-ii
|+-|+ i ri r| (ii r nii ;|
i- -i ) l-il^ i zc++ | n||
ln-ir| - liiln r| ; i -ii--
(va+iv) i l-ii --- i | i-
l(ii ii iiln- l^,l-|
,ln )( -(i; i ;i (iii)
ii| li i ri r nii -i
UUcU...U
8
iv- --| ll-- +c vaciiv --
n | +in| l) + +c+s i-|-
i ) i i-- -iiln i
i r-iî i ii r| ; i--
| inil^| )( llii;-| ;l(--
vivi, + )( ii ;|l| )(
i-i| (i) a+ia ,ii i | ^; r| ;
i-- i --- i l i- +s (i
li | - i; rn ni li î
r| -i ^ i l(| -+i; (ciici)
)( iiiv i;, (^ l-- iiiln
l-l--^ ,ln i i-- ri ) --i
ri, i l- (i- l^, viv -i;
^ i; ,ln ;-il i i ii î
r| ; - zcc liî-,-|))- n
-(i; i ;i | ii| î|
^; r nii i-- i l-ii ii
r| ; +iv i i- -i )( l-il^
lii i-i ri î r )( ,
zc++ n i l i | iii r|
n,ivi, + | +ccc i-|-
i-- i -iiln i i
ii r| i| +lin i |-|i
i, ~ii ii lrn inil+i
zin i i li î r| +iv ;i;
(-+, zcc+ n i-; (i l i)
l) ni ri i^|| n,ivi i
l- l-il^ l) ni r|
n,ivi, ii | i-- #
s (+ccc i-|-) l) i-- i,
--i(, -- i| -i iii
iii-- i l) i r| i--
i i ;i i ^ln r|
i-- l) i| -i ii
l^n l i r| ;i i | ^ln
ri r| +iv | l-il^ zc++
n n liiln r|
l-(n cin v i lnlac, nin
l) +c+s i-|- i--
rn ii; i i r r| ii li i
i r| i| -i n|| l(li-ni) r
r| i| | i | r|
-iii cin lnlac +c+i-|- i--
i -; zc+c - ni( l-il^
li î r| r --- i l i- i--
r| ;| i i +iv, )
v- )( i vivn - r r|
a+ia ,ii l-i l ^ r|
+inii î l-in l
- zc,sc,ccc ciiv -i; i i;
l) l(-nn liil| )( i-i|
(i) rn r- i ii r| ; i
zc+c - l-i li î r i r
liiln i-ni i r ri r|
UUcU...U
9
; l-i l i ii r|
a+ia ,ii i - l i( i i^
- -i-i --il lrn n| -i; i
i; i l-il^ li î r|
^, ilii - ii-vv iiiln
-- + -+ c.c )--||) -ln ;-in
i- i +.s )--||) -ln
;-in l) li-, liil|
)( i-i| (i) rn l --| ) i(
ll-- r- i li r| r l-
inil^| i i^ -i i
-i l) i ^li liil
^ (l^) i li - nr |
| ^ r, i ;-n-i ni r| i
^lli inil^| lii |i | ^|
ii, i| ^| r| r i-
;i- ^ l- --il ( i i^
vv - |i il^ l) ^-
iii i i| i^ î| r
ii i- - -+i-) i ;-n-i
ri; i i; ^ î^ +c -î(i-
+i - î| ; - ^ -
i l-ii i ii ri r l
;i;i | l-il^ l(li i|i r| |
i^|| ,v,i,vn, c.c )--||) i-ni
(i| lii i- i li(
ii i^ + i li li r|
n,l-ini iu , lii; +xcc
(^-|- l- i- +li| )( l(-nn
lii i i ii r| l-
i- i lii (| zc+z - i li
ii liiln r| i;- - -iii i ii
li i i r )( l- -i| )( i|n
i - szc i;l^ i i- i ri i
r| |-|i i i| i ri î r i
|-|i i csc i-|- i i- i
li î r|
n,i+ni iu , ii
+xcc (^-|- l- i- i lii i
i ri î r| ;i i i| -i ri
î r| ; , zc++ n
l-il^ l) ni ri | iii r|
n,ivi, +a i zxzc+ (^-|-
l- i- l l) a+ia ,ii l(-nn
;|l| )( i-i| (i) i | i r| r
i|i r| l-il^ l) liiln r| ;i
^lnl(lii i ri ^; r i ivci,ivi
^lnl(lii | ri i r|
ai-ac iu lnlac +xsc (^-|-
l- i- l) l(-nn lii
lii ii r| i| -i ;i;i
l) ll( )( i-- iii l^n
l) i r| ( i;^ -i i
^ln r| i;- ;i i i| i
ri | l-iln - r|
-iii cin lnlac, î| - .s vaciiv
l-- l) l(-nn lii )(
i-i| (i) i i i- ^ln
r| -+| ^| -i l) n||
l(lil-i l^n l ^ r| ;i i
l) l--i;l^ i( i--
)( ll( ii iiii i i;- -
i| li î r| ;l-^ i( l)
lii i ^ln r|
n,ivai | +iniai i ai- +
-nil(n +.c vaciiv l-- rn l(-nn
lii ln( (iii) i ii -i
li i i r| ln n,ivai
ii i i| r nii li- lii-- i
- r|
ri- | vavivn ll-- +.z
vaciiv l-- l) l(-nn lii
)( i-i| (i) ni( i | ^;
r| i i î;l^ l- )( l--i
UUcU...U
10
l- zz.cz.zc++ i l-i l) ^) nii
-iln l-- i il-- l--
iii i - ii î ii| --
l-- l-ii + l- i zc.c.zc++
i l-i li î|
v- ll--, nii^- z.c vaciiv
+c vaciiv i-ni n ;-in l-ii
l(-ni rn a+ia i iii ii r| l-+,
zc+c -i, zc++ +| zx+zs -| +iiv,
zx+zs -| vnv, zx+ -- -+ i-- )(
-+, l(iii i l-i li î
r| îr ,ii ; li i l) a+ia
| (ii | iri | ^; r i +
| i-ni i(il -i î r|
vvn +|, ilii | +.c vaciiv
i-ni(i| ri- --| l- rn l(-nn liil|
)( i-i| (ii i ni( l-i
li i i r| ; -i l- - +.c
)-)- +z.z )-)- n i ri- i- (i;
zcc, cc )( +cc ^ l| i --
--| iil- r|
i isii l-i l-n c lnlac i i
l-in l- - l r n l(-n n li i
)( i-i| (ii i - i li î r )(
r î^ l-i l i | l-iln - r |
+iiivn ll-- , - î | +iv ;i;
- l^ il-- ^ -i| (iiva) | -iii i
i- ni ( li i +i t+
-ini lnaic +iizia lnlac
||)----+(xz+c va-) - civ-++
li( l) i-i| (i) ni(
i | ^; i ii| i l-i li
î r|
n,ivi, +a | ll-n i
i( +-| . +c i + ^-n, zc+c i
ni( l-i li î| i|
| ,ii lii l) i li-,
lii )( i-i| (ii ii-ii
lii -il-il^ (i) i i; i||
n,+ivvn, +i+ii | ll-n i
i( +-| . + i lrl-^- li i ri
r )( , zc++ n ; l-i | -iii
r| ; lii i r- ii iii
lil(n r r|
n,+ivvn, +i+ii - i i( +-|
. z i l-ii li i ri r )( (n-i
l(-i| (i - ; l-i li i)î| ;
lii i ii iii lil(n li
i ri r|
n,ivi, i+ni - ; i i(
+-| . c iii| r )( i l(-i| (i -
; l-i li i)î| a+ia ; lii
i ii iii lil(n ri r|
il- +î i l(nn l(ni |
ll-- | ill^ - ii l(nn
lii ---+ xs va- | ---n
)( iil|i i i i ;
ni( l-i li î r i +
i;, zc++ i ^| ii i;ii;
li î nii (;i;-z i + i;, zc+c
i )( ;i;- i ++ -i, zc++ i) |
i-ni n i li î|
i| | n )( ^ l(l(lin i -
îni i^ + r| r i l(lii i(l i
-i n i | li ii-ii
l| i îri i lii +i, )(
UUcU...U
11
i-i| (i), iln ^ i; i; -(,
ivai )( l-| ^ lii), -il-
-i l) iii nii i + l-i
(ilili | (i) i r| r| ; (i
l (r iiii i l ^ r ( r
n l) iiivn ii i-ilii|
n +cxcc l.-|. vnii i;i; i
ni( i )( l-i li î
l- l^ l(iii ii -l-i |
l-il^ i| iil- r|
n l) li -l- n +zX l.
-|. i-- -i; l-l(-| i ni(
i )( l-i li î|
vavaii, ri+i l) +z,18,20
X 450 l.-|. ir - -| i;i;
rn civi +i ni( i li
î|
-iri rl,i )( liii ii
n +cX c+ l.-|., z+X + l.-|. iln
^ i;i; | i;- -i ^lnl(lii
| ^||
iivivn, îi|^ rn +Xzc l.-|.
iln ^ i;i; l+i l) -i
l-ii ^lnl(lii ii ri ^; r|
) in|i )i;-- ii ili -
i--ii - +^ - -î i; i;
(|)-+) rn c,+X c l.-|. |
iln ^ i; i; i;- -i
i i ii ri î r|
i--ii+i )( ii|- i;i;
| +zx+cc l.-|. iln ^ i;
i;- -i i i ii ri î|
viivn rn +ri^-l-|i | x+s
l.-|. (z ^ -iiin) i- i;i; |
i;- -i ^lnl(lii ii ri ^; r|
in l) (iiili - vivi lii
;i i ii ri ^ r|
l(li iri )( îri rn ni )( -i | ^;
ivai )( iii liii )i,
|)i l-(n r
+iiivn, --+; l) ii )( liii
- l-| ^ l(ni -(|
n lnlac l) i-^ iiîl
i iv rn ivi i |
+iiivn, --+; l) )ii- l -
l) l-| ^ l(ni -(|
viiii, ri+i l) i--i-,
iîi )( î |-- - iv|
i| | lnii i - i| (i) i
r| r| -i i | ^;,^ln r|
lnii lii) r
iin i, ii -i | ii
li, iî l) -+ rn lii
i ni( i li î| -I
-i iii l) ^) r )( l-ii i
^ln r| -II i lii i ^ln
r|
iin i, lnii -i |
ii li, + iil|i
-I l) lii i ni(
i li î| -I -i ii l)
^) r| -II l) lii i i
^ln r|
iiiv lnii (i) -i, ; l-|
rn s i| ii li iil|i
l) l(-nn lii ln( i ii ni
-i li î|
UUcU...U
12
i| | + | i - i(l )( l|
ii îri l) (in r| i(l i
+ îri vavaii, n, ivi,
+iiivn, iici, n, iiivn,
+iiivn, ivaii+i, vaiivn,
ciivavn, -+iv+i, -+iiiivn,
-+iviivn, iva-vv+i,
viivn, lvn, viiivn, iii+i,
+iivn, vivn, vvn, +ici, iivn,
iivn, civaiivn, iii, vavcii,
vaciii, vavaici, +in, iivn, +i+
r | iin i, +i - i nii, l-
+ î, l-|, -i|^ , i-ii, nl-i,
-ii , -i i ;-il i l(nn +i
lnln nii l| i - +iiivn, vi,
v-vn, vvn, +iivn, +iivn,
vavaivn, ivnvvv, iai,
ivnvn, vavivn, iivn, vi
vvni ;-il -i îr r | n
lnln ca+i, n-ain, vavn,
vnvci, i, ii, n-i+i , iila+,
civavn, vaivavn, ivaivn, ivaii,
vivn, -iii , ivvn, +ivava,
ai-i+i, +iivivn, vavni ;-il )
+ îr r lr ; (i r- | (i) r
r | r | lnii i )( l(ni )( ini l^|
l(ii^ l) i| (i) i r| r|
i| | i ;-in i - ; --i
ii li i iii ( in r l
| il i -|- )li l)
-(|ii î r| ; ( i l-ii;
l) inil^| --n --| lii)
i| | | i | i(ni r| i
îr i| | ^ s +c (ii -
i-| ;-in l-ii - -li i - iî
| iii in r| +i ) iil(n
i r ri i| | -i il-i lii
n| r| n )( ^ i| i| | l)
ii(i (ii i r|
z,a iil+ llli+i
l ; (ii ;-in i - i| |
-i^,l(i - i| | ili
i ; l(l(lin ii, l(ii i n
)( ^, +i )( iiiini i - |
^lnl(lii i l(-ni li r| ; | -
-- i|ln i(il ;i;i i
^- ril li î r|
;- ii - | i i- i( i
-ini i| l-| r nii îri | +n| -i^ i
i l) | | (ii +lin
) -+n i-ili i l-ii ^|| ;
il( - | i n ( (i ii
ii -( i l--ln inil^ +ii
ni-i( i -ii - -
l-^||
; l(-i| (i ii, iin ii -r-(i
iii in r)| ;|l| i i-i|
i - | | i +l^ ^-iil-( ii
- +z.s% (((n| (i cc.cc%) i iin i -
z.+s% (((n| (i .s+%) r| iln,--|
liii -i- - ^-iil-( ii - r
s+.+s% i iin i - s.+% r|
i il-u (iazii)
iiu -iiu
+
i
iiu -iiu
+
i
i il-u (ilu)
UUcU...U
13
ii i il-u (iazii)
iiu +i
-in i iii-iuai
a,a +ia + tn +i
l(n| l(i l | i(nii
i - - +i l(l(i r i l
r| iin, n )( ^, +i nii iiiini
i | |ln^n i(il ;i;i |
i l(l(i ii - i li-ni - - l-|
r| îri i | liii | l(lrn
ni +i i ln ri r, in
l(i| li ii ) | ilni i
ri^| +i i (n-i +ii | ni i
| l) ini l^| )( (i (, r n
-nini ni ()-i),)ii- r-nii,
î| l(i| i iin| li,-iii
ii iil-- (l^ lii| (ii|
i rini i), |ln^n +i -iiln i,
-ini - ii r n il-i i +r-ii -
li +ii, ;-(l ^ l) n-(i -(l ^,
ii; i - i( -, ii; i+ i
ii, ;- îr, li i ^ln | -il-i l ^,
iii | lr- i|, vvciva, iv )(
-ii | ii; r il ^, li;
i ; (i |i, li- )(
li() r n nn i-( i i ;-n -i
;-il ) ( r i l ^ nil
i(il (ini(i l(n i ii r| ii
i ^ iri | l(ii n | | i
|
; nr r i l linii
ln, îri | lii -|- - - i|
l((i +-i r|
+,a iu ain + ii +i lai(a
aniui nia
^n (ii | iiln, i| | l(-i|
(i zc++-+z l) ;-in -i ii
-nini ni r-niiln li r| | i
; (i (zccs-+c) -- i| ril ri r
i zc+c-++ - i| r -i +i r |
ii(i r|
ivi-saa1-zaas aiii+i
a+ia i - ri i-i| ^- r l
ivi scc+ -ii | -ini in r; r|
li- )( ;|l|, )( ii
ii--, l-ii )( lii +i (i) nii
--| liii li( l) ril
r -ii (|, zc++ n (i ii| cii
;li (cii -| | i ) l-+
zc+c -r| - -ii ii ni (
-i li| in cii -|
) i ivi scc+zcc -ii- i|
li i (|, zc+z n (i r| | |
nni iii| i i| ivi scc+-zcc
-ii- l-i r i (-+ zc+z n (i r|
s,a -iiui +ii(zi
i| | zc+c-++ - l-llin -i
iii ril l) r
iiu i
vavaii, ri+i a+ia i -i|^
î - .c vaciiv ln(i -i
i-ni(i )|n ;-in | -iii i
iii ii r i a+ia ,ii ril li
UUcU...U
14
î + n i i + +i i-i| -i
r| ; -r-(iii| ^||- lii l)
a+ia -i li;, ;|l| nii i-i|
(i) i ri r l- +li| ;|l|,
l(-nn ;|l|, li;i i (ii, l|ii,
l-il^ ii ri^ nii i-i
(ii i iil- r|
iivavn,lziiiyia iu ,
l(iii;i- li-n (- i +i
i-- l) l(-nn ;|l| )( i-i|
nii i-i i(ii (i)|
-iii i v cin -nic ln,, +in+iui
î| l-in c.c vaciiv +lli
i- nii .s vaciiv l-- i- l)
l(-nn ;|l| )( i-i| (i)|
ca+i li i, lnlac, i( (
i î( - l-in z.c vaciiv l- -
i - l) l(-nn ; |l| )( i-i|
(i)|
n-ain i vni i, lnlac l)
l|, lii; - i )i i- l)
l(-nn ;|l| )( i-i| (i)|
ii ailca ln,, azi( | i-- #
+ ri- i-- --i( rn ll- i;--i
| iln|
ii (zi ia i +ai lnlac +
s vaciiv li^ )( -|l^
ii-ii +lllii i- rn i
;|l| (i)|
ai-ac iu v ai lnlac i^
- +.s vaciiv ;-in l) --l
rl^ l--- rn l(-nn ;|l| )(
i-i| (i)|
n, ; l-| rn l) i| n i
-i- i;i i li i;
-- lini i|
vn v ci -i --|- ) r(| il
ll-- i ) ) -| ;i-- i;i
| ll--, -+; rn ;l-
;|l (i)|
i i i lnlac | +sz i-|- i--
l) l(-n n ; |l| )( i-i| (i) |
n,l-ini iu i( )
il(^ --i - -i- iln i rn
i-i| (i)|
cici aciln+ ln., i^ rn (n-i z+s
i-|- -.(|. va+iv ;ri--
)( |-+i-l^ l) i-i| (i)|
v- --| l., - ( +.c
vaciiv ;-in iii (|)|;)
() l) i-i| (i)|
n-i+i n - +iii - -iiln
l) i r )|n ;-in l)
l(-nn lii ln(|
iila+ aciln+ ln, .c vaciiv
-- i- )( +lllii i- l)
civi i iv,vai ln( i
ni i|
v- cin ln,, - ( +.c
vaciiv ;-in l) (n -i |
|-l--^ l--- iii rn i-i|
(i)|
ai-ac iu v ai ln, i^
l-in i i( i- rn inil^|
ilnni l) ll(i --i
ln(|
l-(n cin v i ln,, ^ l)
z.c-z.s vaciiv ii+ lrn i i(
nii +i; i- i- l) inil^|
ilnni i |
UUcU...U
15
ii ailca ln,, -i | i-- -+
ri- --i( i- l) i-i| (i) |
+i i
ani lnaic +iizia, nl-i
i-ii l+ii l-in + X zsc aiic
+i lii l) i-i| (i)|
l-(n cin v i ln, nin |
lnln ^ iiiln ni +i l)
l(-nn ;|l| )( i-i| (i)|
- +i v i i vn, i ini
n^n sz iri l) i-v i i i
i (i--+|) i r n ni +i | (+|) li i
nii -+, (ii | ni| l)
iri-r-i-i| ni i-i|
(i)|
- +i v i i vn, iini |
i-v i i i i ii n^n +
iri l) l(-nn lii ln( )(
-+, (ii l) i-i| (i)|
- +i v i i vn iini | i-v
i i i i ii n^n s iri
l) l(-nn lii ln( nii
-+, (ii l) iri-r-i-i|
ni i-i| (i)|
ai-i+i, i-i| vii l,n| i
l(-ni rn l(-nn ;|l| )( i-i|
(i)|
- +i v i i vn, iini |
i-v i i i i ii n^n s
iri l) l(-nn lii ln( nii
-+, (ii l) i-i| (i)|
ai-i+i , ^ z x +zc - î(i- l-(
+i l) l(-nn ; |l| i
i-i| (i)|
ai-i+i, ^ lnln i rl^
i- l) i-i| (i)|
in i i
iivavn,lziiiyia iu ,
l(iii;i- +i l(| )( lcinzia
-nic (-II) | li;, ;|l| i
iln|
iivavn,lziiiyi iu ,
l(iii;i- +-in l+i )( lcinzia
-nic (-II) rn ll(, ;|l| )(
;i i|
n, ; l-| ()) ri-rl,i-
ri,~lii i (+c"x cc .(|, " x
sc l.-|.) (+|) liii-ii (z+"x
c l.-|.) | +ivaivn -i;i l)
lii +i )( i-i| (i)|
ani liai v ci+la+- ln.,
-î l) lnln -, - -
il^ + )( iiiini rn lii
+i )( i-i| (i)|
viii i, r i+i r n ii i - i
i - iln ^ i;i; -( l(i
r n l(-n n li i ln( n i i|
li an +ai ln., ^ni rn
^ni ir - i ; ;-l^ | l(li
l(-ni liii rn lii +i )(
i-i| (i)|
UUcU...U
16
n, ; l-| rn l((ii l-in vnii
- l) lii +i )( i-i|
(i)|
-iia ln,, ri+i rn ri+i i
l((ii l-in iii -( liii
l) ;|l| )( lii +i i-i|
(i)|
-iiu cilna +iizia ln,, --+; |
ii )( liii l-in iii -(
l) l(-nn iini ln( ni i|
iii-iuai i,- ilai
i| -i-, r rn a-ci claan r
l-in --l rl^ l--- )( i- rl^
l(iii rn l(-nn ;|l| )( i-i| (i)|
vavaii ll--, ri+i +|li
i- i -| i;i;i rn ++
-i-;iil- l|l+l-| li- | ni||
iiiv, ii -i(i) ; l-|
s i| ii iii iil|i
rn l(-nn lii ln( ni i|
ili -i;l^ iii l., i(( |
l(l(i iii ii(i| +i rn i-i|
(i)|
iin| ili| l(nn l^- l., | + i
z lii v+ii rn ii(i|
--i ln( ni i|
i l i -i;l ^ ii i l. | s --
iii | ll-n -il-i l ^ r n i-i| (i)|
v- --| i-, i- +-i|
i- | i-ni i +c vaciiv +i
+c vaciiv n l(-niln +i -
iv,vai | lini i|
s,a l(ziii +ii(zi
i| | ,ii ril l ^ l(l(i l(i|
iii l-(n r
iin v i ici ln,, +;, n
+ -|in | -ii -| i; i;
lii rn |-l+ ;|l| l(
(+i|-( ;|l| (i))|
l --|, +illii l) i )(
+ll)i l(ii lrn +.z vaciiv
;-in | -iii rn n||-ili|
iini ln( ni i|
iiai+ ++, aiili -i(-- --|
i n|| ii rn ln(
ni i|
++i ac- iu++i, l rn iin -
)i )( -i --| - i- l)
-i- ( lini i|
la+ - +, (vnvni) +;, n +
-|in - -ii - n; n +cc l.
-|. | | n lli i- +sc,ccc
i-|-,lnl ll- (i- (ln
) - l) i-i| (i)|
niic ilal ln,, aiili rn
i i-|- i; lii l) -i-
( lini i|
UUcU...U
17
i^|- ;|ll^ l.,i;|li i;-
i- (i ) rn -i- ( lini
i|
z,a l-ii liia
nii , a
za1a-11 zaas-1a
z.+ -i | 1a,a1a,s+ +c,+.+
z.z l( )(
(l(-)i l( ii)
1z,+z+,ss ,++z.++
z. - i( (ii+i) s+,1az,ss cc,+zz.s
z.+ ( ii 1+,asz,sa +z,+cs.++
+ -i zc++ i iil-in l( )( ili
l(-)i l( nii -|- l( i lnl+l-+n
n| r|
+
i
+ii+i
s,a ni-iizi
i liîi ; (i +s.cc ii
li-i| iiii i i^ni iln li r|
s,1 i ni-iizi v -iuia l+i i +
i| | l i +c,+.+ ii i
| -i i| (((n| +c,+.+ ii i) |
i i^ni li r l- +i | ii^|i|
i +c.+ ii +i+ r, nii | iiii
lrn (;l(-| nii l) +,zzz.
ii zccs-+c n ii i ;- zc+c-++ -
iiii cc.+c ii i i li-i ltu
i(ii li r| | i +c,c,+z ii
. iii - zc++-++ n l) i^ni li
î,i ii î r|
s,a lu +aii ia
iln -i| - (i i i ii+i ;
i r
n
i
i
-ilu +aii ina +ii+i
1a,a -il + lnv iil+ (lc+ii
i| | (i i-- )li (- i)
i - ;|l|, i-i| nii lii +i
| i-i| (i (ivai) i -(|i n| r|
n ; ln lin ii i ril
)( ; i - ; i - liili iiii
i lil(n i ln r| r|
| ; i - i | l(li l(iii -
(i ril + li r| ;|l|
i-i| )( ivai (ii i - ((n| (i
- +zs.cz i ii i ; l(-i| (i -
sss.c+ i i (i ril ri r|
iln,--| liii i - ; (i r
++.c i r| i| | --(i
- i-i i -- (i ii - î nii
- lnii (i ii i i-i (+ir|
-ini ) i i li li r|
11,a aiia v l+i
lin ln l| | ii )(
l(i (i v i) i ) -ii il(i
UUcU...U
18
ii in r| nl r li -r-(i r
niil (n-i -ii i l(i i| -i i
-r-( ini r il iinii | iil-ni)
ln + r| r| -ii +i - ii
)( l(i i i ; i i r l ii(|
iinii | (-n )( (ii | i(ni)
| | i |
a+ia - i ) | (aiia v l+i)
^lnl(lii | iii ; i | in| r
l | i ln-,i i ii l- | (n -i
- - ;-in i - ii l^ ii )( l(i
li i ri r| ri (ii - | -
i l(li i| lii - ii -i,
l(ni )( inil^| l(ii^, ( )( ii(i
-i, ;-in -i il ,ii iiln
lillan - ii - ii )( l(i i
- r|
i liaiv
ai ailn v -al+n lanzia i
tic ci i iainl+c+ +ln,
tilc tnac+
r -i i-( i^ ,ii (i-nl(
i-i ; l- l ^,r|l- ^ i lnlli-(
(i| ) ai i--| r| r --i
; iil- (ivi) -i-
i-i;l- l^ l--- i l(ii )(
li n i i n| r| r
ii| i iiî - i-n - i-i;l- -i
(cii), i|n i )( - i - l(i-i r|
i|n i i- i, ii- -,
i|n - )( (- - r +l i
i - )--|l- i, r|- i;, l
)( r| i- - i li li;
r| i- i i l(ii ivi -i-
liln li ini r )( i i |
îi ;- ll i- i iiiln r|
; li;i i-li i ni--
l(li i ii nii n|
l(li cii -i- l) ri- i;
il-+i l) li î r l
r li in ri l (iln l^ in
i i( r|
n +i ia nia ailacil - v+
lanzia i
ii(i (ii) l- +sc (in(i iii)
li +c.++.zccs i r lii
inil^| lii (ini(i - -
ri(i (i ii | -i|-l^ +lin
r li +i iillin r
-i( -(i- ii i ii(
ii(i ri | iil(n iln
(iri l) - (ii nii ii
- )( i -i()
-|ll- (il(ii)) -i- (iri
l) --i (ii ii) i(i
ni-ri) nii
(i l(n (l( -i-|
; lii -, iiiin ii| ; i
lil-n | ^; r l vaiii n|
i ;-n-i n r) i î n |
-il-il^ | i | ; ii| - i-
r - -i, ii-i, n, -ini
l-c nii -i lc+c| ^ n
in rin| r nii ^ -i i ;i
i - ) l(li- (ii - ; (iiii
,ii ;-i il-| -ii ini r| -i-
ii i ^ -i- l- |
i ii ini r| l--i i- il-
l-- r i r) ^ -il- ,ii
(iiii i( i| i ii i r-in
r| l--i i- l i l| ii
^ (iiii r i +i - -ii ini
r nii - ^ -i i +|--+-
i ,ii -ii ini r|
UUcU...U
19
(i-nl( ii -in )( l--i ii( -
)--i | li; )( +|i | in| r|
l(li ^ -i | l+l-^ )( -il-l^
l) |-i-( i l(i li
î r|
ia-i (in) liaiv
inil+ i tu iainl+c+ni
ziiu,i tnac +i l+i
r lii viv, ;-in -i ,ii
-(|n r| ; l(i lii i +
ni-i (i i - i- (i inil^
i-îi i t +ln | l(ii r
ii- rii r|
; lii | ir (++) ^lnl(lii
- r| i ^lnl(lii --ii|
-nil+ | | ^; r| iillin n|
^lnl(lii, ii - l(-nn -i- | li;,
i;ii;i i -lli )
i- i ln- i i, ii--,
-l^ i ^ln r| ; ii|
| +i| +| i ^lnl(lii - +|,
-l--^ )( |- -i ii-- in
iln | i^|| i -, --ii|
i nii n| i i| r|
i l(li i(nii i i-, l,n|
)( n n| ln-ir| | ^ln li - )( i i
i l^ni -ii- - i i i l) ^) r |
ai l+v v liai ui
viv, iu ain, -iiu +i +
i ai - nac i +ci- a-ci
ailac,
+ivi, n, lii; liii ;-in
-i viv i ln-+, zccs -
-ni( -i li î r| ; lii
i l^ l- | nr ---| ^
-i|-l^ ii| iin |i, ii
z
vai
x

v vi
z
i l(i i r il ;
- ii(i )( -i i +rn li
i rini r| ;-in i )( i-in
i| niî - ; i | ii| |
+rn li il^ni r|
viv, iu ain, -iiu +i +
i ai -i +ai + nn +izia
aiaicl,
+i- ii ;-in i - +|
i-i) rin| r i -i( |( i
lnln ii | iln i -i ril
i ii +n| r| +i- i -
ii | l-| i;l^ i lii(
r| ni-i l-| | |
i;l^ | (-ii i l((| rini
r| (n-i lii ; -i )( l(
)-îl- | rini - ri- -i-
i-i-l- l-i ln r|
-iii v a ain , -iiu +i +
i ai nac i ia nia iia
aiaicl lca
ii, -|| -n )-+|)- ) -r-(i
(i ii - r i r ri;ii+,
i;l- ii; )( | ii| |
lnli rini r|
(-+, zccs - vaiv ,ii i| | ^;
(i ii li lii i ii
UUcU...U
20
-i|-l^ i( r i +cc |,i-|-
| i|

- -i r| (n-i -, +ii -
i ii -i|-l^ i iilnn r
i i| -r^ r|
l-ini cin -nic (+ivi) n ,ii a+ia
aiia v l+i -ii l(i|
(i - ) ii; (nn) ii -i|-
l(ln i ii li î r i
(r| ri nii (r i ni ,i, --i-i|
i(i -|--| iiiln ri|
1z,a +i ii v inil+i i+i
1z,1 +i ii
ir l-ii (i -l^), ;-in l-ii (--|
-l^) )( +i -i i - +i -in
i - ii iin| ;-in ni^ l) +
+| lni i l(i r| r ) )| --i r i
i(i (ii - ii î| ri^|| )i -i
li î r l i(i (ii - iin - ;-in
ni^ | +rn +in| ri^|| ; lii--(i
iilnn i -li lini +^||
;-in ni^ inil^ +i i i +
+i iini r i l(( | +i in i
î^ +% r|
a+ia ,ii l(li ;-in i - +i +n
i lii--(i -i i^n | +n
i,inil^li +i - ni( li î r|
;-in -i l(li ii - ni) ^) +i
+n i,inil^| ; i r -
v) +i+ laaii
i i; (l^(ii+) inil^|
i i( ^ (iii) l+ r|- |
l(|
i -i; li
+i) lc laaii
l- )ni-- ^ (-- r|- l(|
l- + | ^ri; - (l, (n-)
)ni-- rn (l)+ -| i;( i
^|i
i) nit laaii (iu iaa -ii aii +
lv)
--i( | li- ^ tic l+i
i- i-- - ;-ii
i- i,| - )l| i ;i
-i l(| -+i;(ciici)
i) iu laai i v +-cia +ilc
iiiv ^ l+ r|- | iln
-ii -l--^ ;i; i - i;-| i-i
(+iiv,vv) i ;-n-i
i | li;l^ ;i;i - li;l^
ii i i
;î- il--^ -ii -| il--^
i ii
ri- --| l- - i llli^
-- ii r| li-+ il--^ i ii|
UUcU...U
21
) iln
-| i-- -ii l) ri- il^
nr| il^
v) lnu
iil- l(ni ii| - l-^
;(|--(il- + )( vii) i
i^|
i liii - +i i -i (+l-ii)
(ivnv,ci-s) i i^|
l- i- - +i i )ni-- i;(
(vnii i;) i i^|
n lnln ;-in l-ii, il--^ )(
il^ l- )li - i| | +i +n
inil^li i| ^; r| a+ia ,ii l(l(i
;-in i | li; ii r|
i i ni l^| )( n lii
iii n (lin +i +n inil^|
i ii ini r|
1z,z inil+i i+i
inil^| (iiii | l(-nn i |
l-i i l- ) - +s
i| i--+| i ; li- lli--+
r|
1a,a l(zii a(i a v
i| | ii zc+c-++ - l(i| -i
i - cc+.s ii i ril li r| (i
ii l(i| -i i - i | ^; ili,
(i-n( - i | ^; ili z+.+z ii i i|,
li l((i l-(n r
li -iii a
;|l| i- +++.z+
-i- (ii, i-i,
l(i - i(ii (i),
|^n i-i il)
+zz.z+
i z+s,+z
1+,a aia iia l+i
i ni iiiln iil l -,
-iii | ln-,i--ni | ii ln
+n i r nii i- i+ +rn l|
^ | r| i n| r|
a+ia i ) ;|l| i-i| nii ;|l|
| l(l(i iiiii )( n|| ii
i - ri ii (|n- inil^|,
i-( )( ii ni i-i
i nn nn r | n r| |
ln-,i-- n|ini i +i i l),
r- i| -ili i | ^-^
liii | i(ni i l(ii n
liii -ri in r|
vii ii^ (i zc+c-++ l) liiln
i | ni - l-iln liii ii i
ril li r
liii i - l( - ++sc
li - +zss (-- i| -)
zc+c -i zc++ ii -ili i
liii li î
inil^| +lin - scz
UUcU...U
22
ii +lin - +s
i- l- +lin - z ((ri )( +i|
+i|)
aia iia l+i ii^ ,ii zc+c-++ - |
^; - ^lnl(lii
+i liiîi - zc+c rn -i|i
i- i( l(l(lin +ir| ii r|
ii inl liii i- iiln l)
^)| ii - l+ lîli)i (i(il
-nin | +in|n) ii )( -nn|i
ii, ;-il l) r-i -ili
i lin +i| l(i i ri|
vcivvi i, c +, ;-il n||
i-i ,ii r-i ni(i i-îi i
ii i nn - - l-||
a+ia, i| ^-ii -ili
| | ii| i rn ( i; +
(i |( - n) ln liii
i- l) ^)| +ir| liii -i
ti-^| l+l-^ i-, -n + )( z
l) --iil |ii (-|) i -n-+ )(
z l) li |ii (ici), i||
ii i li--l(ii i l-li
l), ;-il i ii li î ii
nil nn inil^| ii +i r|
inl i +ir| i-i - l l(ii i
li î r ( l-(n r
iul+ (a-ti) +i+a
- l+ lîli l-
(ii -nini (ini ii)
)(i )-|))| i
-- ivii
i vi scc+ zcc + vav l(i
i nl ^ i(-ii ii )( i^ni
i- -
l|ii ^lnl(lii
- i-|( - n
- i-i +
- -li )( -i l--
- i^ l(ni lil(
- vii,v i^ni
- civi ni | li-l(li
- i-- --- (l(i +i)
+iti +i+a
- +i ii| -i )( vav
- l-| )( iln i- )( l^ -i(
l(ii + n r) +| iii ii i
l(ii )( li-
- l-ii ili- +i
- i +i
- il-^n +i )( (ii nii
lnli
- -i|-i( i-( -n-I i liii
i--
- r|- l(| --|- -
- ll- +i li;
- ii ii i l(r )( iii
UUcU...U
23
- |- -ii| - l(i
- i )( ri;-( ( )( i-i^) i
li-, l-ii )( i-ii(
- ici -n-I i liii
- ci -n-II i liii
- ^-l(( |ii )( --i,vai-zc+c)
liii | n, r-i liii ii,
-i ii| ii i-ni -i ii|
ivav ,ii lillrn, i -+,
rn r-ii (+-iiiln -( + in i-
ri r nii l-| i +^ ii
i| liii i -i )( nn
l) ; (|n- ii| i i^
r r|
a+ia - ni +i ii| (+vav) |
n | ni +i l-ln | |(l-^
(i--il(n) nii ni +i l-ln i
^- li î r| ;-ii;i ii| -
r-i ni ii ii li -ili i
i l) i iln l) ^)|
i| - -ni( i | l) ;
ii + li ^ r| ;-ii;i
ii| - -ni(i | i +zccc i
i ^; r|
r- i il^ (ni i )-
ini ) ii (, l)
+va +l- i- -il ii
l, ri ri r| + n +l- s -i
li i r i -ili l)
a+ia ;i- (i ) - ii;
i r|
r-i +va +l- i - ii^ )- i
i lnil^ni r l- a+ia | ^lnl(lii
l(li ii i -il(- li î r| r
r-i -ili +| | ii i
lnil^ni r ri ( (- i( i
l) ) ii ii^,i - a+ia ,ii
ln i( i l(iinni i lin
| ilii n r| c-| lnil^ni ^ln
r|
1s,a +ila+ +-ii
a+ia il-i | i +.c.zc+c i
iil-in l (i +s+ | ni - (i
n - iin +.c.zc++ i iil-in +z
ri ^; (l- l-li (iilin) lil-,
+sz )( +sc i liiiii| +
)--|(-|) iil- r) +z | i -
cs ln iln nii +s ln iln
(^ il- r|
1s,a inil+ +i
i| | -i| + ii i ln
n| r i -i| + i| i| -i-i i -iii
-i| | (r-i nl- n li î r| i-
i -iri -(-i )( i- - i +i ri
nii ; | i + rn -ini ril
- - l-|| | - ili
ii ii ln i i ril + i +i ii
nii ^-ii i ii -ili
lnllii ii +in|n ,ii lii i
-i-i i ni li î| -+, +ir|
) li ii i| ril - +i) ii
î|
UUcU...U
24
1z,a ,i,,,i, + +-ii tu +ai a
+i lullii,oi +(a
l^l-n i i(il i ii
r| ii r | ln iln,ln
iln -ii -i l(i i
-ii ln i-il il-(i in
(^n r| (n-i - a+ia - liln .i,.
.i. --|(ii | iln i i l-(n
r
~ii
a1,aa,za11
+i iiliu
iazil+-i
,i,
+i
,
,,
i, +i
,
,i,
+i
%
,,
i, +i
%
) +czc zcs ++c +c.s z.+c
i| s + ++ zz.++ z+.+
-i| +cz zc +c +.cs z.
|
(i; i-îi
i i)
z ++ zs.cc +.zs
|
(i; i-î)
c + sc.cc +c.cc
+n 1sza aas 1ss 1s,ss 1a,1s
; | | l i -ii,
i-i (l-i iln, -i(ilii
ln - --i, ^lnl(lii i| ii
- -ini )( n--ini i i-, i-ln,
iili nii -i l(iii -i-
-(-l(i ( i i
l) in i l r| i-| -ili -
r (i ln iln,iln -i|î
i i l(i i| l(iii i ii^
n r i i i i r|
.i.,..i | l l- i i ln
+ lin iin i lii i i
i iiiln i--i i ni
-ri-+i (il- )( ii) i -
lii| - il-n ) .i,..
i. i i ^- li î r| r .i.,.
.i. -ili | ll- i iln nii
.i.,..i. -ili ii i -
li ini r i ;-in -i i ll-n
iii li- -nn ni r|
| i lii-lii a+ia
- | ^; i| llni ii r| ii ^
^ - iln - .i.,..i.
--|(ii i -iiln nn i
l r|
1s,a lalau iail+ (il- (ivi)
a+ia cc i i-i î-|i,
i-il l(i ^lnl(lii - r| (i
+szc - ) -ln i ^- li î
ii i i-il l(i l-ln (|||)
i i- li î nii l^l-n i-il
il-( | ^lnl(lii i i i i- ii
î ii| +, zc+c +i ivi ^lnl(lii
ivi i i- ) ^ l(ii^ ,ii | i
r| r i ; +i | rini -ili
(iii l-ln -i) ,ii i-il iii
,n i | in| r| l(-i| (i
zccs-+c | ni - zc+c-++ - ivi
^lnl(lii - ii| (l, r; r|
UUcU...U
25
a+ia ,ii (i zc+c-++ - iln (rn
l(i ^lnl(lii l-(n r
+. -ii-il liii ii n^n
i| i i-| li || î-i |
n^|-nili,l ii,î-|i ii -
iln l i r nr(+) iil- liii
i - iilin ^|+ +i i li- liii
i | i r| r|
n i ; liii i - l,
+i i-, i, lni+, i l-ni)
il | ll-n i i
i| ^; i|| ; ii r| ii i|n ~n
- +i i ii r| ii -(- i|
-ri i ^ i|
z. ii +i ii nrn i| i ;
i-i -- ii (n^|-nili,l
ii - in (z) l-ii; liii
i i r r|
-lrii i li; i liii li ini r|
(i n - |ii) iln | ^; i +cc
liiiilii i -ii- l) ^)|
-ii l(i - i| rini | ^;|
a, a+ia li )( î-|i (i i, i
| liii i i| i - i- r|
r, n||,i( liii -ri i rn )
i(il liii -ii (icii) iln
ri r| r -ii i-| -n l(ni|
liii ( vaiiv), ; l-| +, r|
(n-i - r -ii i i i--
iln ri r , ii - li )( -|(|,
n|li, ;l- n|li, (l-^
-ii|, -- )li )( i^|
((n| (zc+c) - l(li l(iii -
n;(z) ii i ilii li î ii|
i (-+-l-+ zc+c - | ln-
|ii - iil- r) i +z i iilin
l) ^)| (n-i (zc++) - l(li l(iii
- ;| (z+) i r| (| zc++
-r| ii) i ri ^| r|
+. i-il -(i- i- n^n
l-iln ii i iil- li î r
i-i -i-,ll-i lil (i|
nii ; ii l-n| ni-i
nii i-| l -) a | ; lili
- nin ,ssa ilni i ;i li
ni ii|
vii,v inni i-
(i| nii ; ii nii - nii
i-| l) / | l-i ;
i-i - nin sza lni iin
li|
~ ili i- nnn ii|
i - liii i ili | ii
li| n;|
s, a+ia ,ii i| i- ri|+i^ i l-in
n -i; - i i; - zc l+-ni
(i i ii(i rn n|| )(
l(-i| rini -ri ii î r|
c. (iiii lii nrn +i^(i| )( )î
i--| l iî- (ti), i, i|
UUcU...U
26
i-, -, ||, i-i, i(i ;-il
szs +i (i i| ^) i r i| l
)( i-| l i; in| î-i
î-|ii +| l(nln li î|
z, a+ia ,ii i-| l i; i i| l
-in| î(i n| (c) î-|i
(i i iin| iln i )( î
-ii, i--, i| - ii | in| -
liii li î|
| i )( i - i -ir r n i -| l
i; nii i| li ^ i- (i i
| i )( i i-i i i ^ |
; i( a+ia ,ii i| l î
i )( i-| l i^|
in| î(i - î-|i -+i i
lnil^nii i ii li î| ;
ii-r| i-| l +iî, -^rii î(
- î-|i ri| i lnil^ni i| iiln
| ^;| l(ni ii r| ii -l(ni
-|- -i i -i l(nln l) ^)|
. i| ^ l^-, i| ii l- a+ia
(n| ii - ri-r| i| i| |
î| --i r (ri | iln l)
i| -i i i i ri r|
s. | l(i ii;-| ii, i| - (i-
ri(l--^ -|- ((ii ii) i
i li î|
+c. |)i,-ii ^lnl(lii
;-in -i| ri| iini
ii l. iil- --i
(i+v+iln,), i-|, ii, i|
- iiiini li -i,
n inni rn i-il ~ii
i,rini|
;-in , i-| - iiiin i
li -i,n inni rn
i-il ~ii i,rini|
ir i r i , i-|,
ii, i| - iiiini li
-i,n inni rn i-il
~ii i,rini|
nii ii ii --
ii;-| (viiv) ini i
i| l ni-i|, iiin ni-i
- i l-ii ;i; | -iii l
i,rini|
s i-| i rn, i i| - iiln
li ni, a+ia ,ii | -i i,
r| , i | i i i ,
i i, i| n | -, lii;
(-in lii), - i--, ;-il i |
li i ni- i|i i
i li ni|
1s,a i-iiii ailu (i-iiii +i i)
il-i lr| liii, iiii )(
î-|(l-i) ii )( ii|
i--i - lr| i^ i i-ilrn
i l ^ nii -i ii-ii
a+ia iii - lr| ii( rn
) -iri ni li î r|
-i ii-ii | i| iii -
c+.cs.zc+c ++.cs.zc+c n lt-(i iii
-ii î| ; ( i| -ili
l ii| i--i - lr| i
i^ +i i - li| lt-(i ii
UUcU...U
27
ii | -i )( iii
- l(l(i ln | lnil^nii i i| ii
li î| ;- l+i, l-i, i,
-i^(ii), ni-il iiii, i-i|,
(i-l((i )( l(ni i- lnil^ni) iil-
r| ii| i--i - iiiii lr| i
i^ l(i ) lzii lt-(i +iziini nii
iin i, ^r -i, iiiii l(ii^
ri^ zc-c i;,zc+c ii ) i
l(i li-u ai( lziii +i+a i
i | i i l i î l - sc i |
l i lniilî i (i i i i(ril
liii li î|
iin i | (i i-iiii lalu (uii
lalu) +s (|, zc++ i | -
lr| î-| i^ | l-iln i l|ii li
i | i-r-+i li )( (l-
liili ii i| | - iiiii
i^ i +i +i - -r-(i l(i-l(-i
li|
i| | ,ii -- lr| - i-
| ilni nii l(( iiii i -
lr| i il( l(i i i-iiii lii
i i| ii li î| ; ii r| ii
lr| ^r li - a+ia -iiui i -ili
i n|| i - ilr- rn -
i n| r, i i| ll-n i ii
li i ri r|
za,a u+ui
| | nni i ; - l-| -
nin n i a+ia - nni lii|,
li ii l-| - r, i| -(n
i i- r| r| iil ii
li a+ia i| nni -i-i +i -
- nni lii| i li- n r| ii^
ii| (n ni) i n ni l(ii^ ,ii ii
l i (n ni) i ri ^ i li
ini r | i |,-ii| ii i - n ni
^lnl(lii | i- i iil n ni
liili ,ii | i r| r i i(l-n l)
^) i-i ii ii-ii nni
-i-i i i| i r r|
liii-- nni, i^ni i, iii
lin- i^ l) l(-ni (-ii
( lii | lî| i l(ii, n
( -i li, ilii l(, iii--
i(i; i (-ii - ilini )( -iil-(
+ li ini r| (-ii - ii nii
in i | -in| l) nni ,ii l
^ +rn ni(i i iil(n li î r
i r li i| r|
li - iil-i i ll-nnii i ni
î l) ll-n i l|ii
)( -| (ll-n) i i li ini r|
liini | n-ni( ni | in| r|
iil ii i li - ii i i
i| ni ^| i+ i-i l) (i|
ii | ri | ^| r i i--i
l+i i ; lil(n li i ri r|
ilini +i rn |(ll^ i -ii|
(inil^| -ii) l) i+, iii
l(l(i - -i i r r|
UUcU...U
28
i| | i r ln n r) ni
ri r| r l nni l(ii^ | | nni
î(-ii l- l-ni (-) r i r
-iiln î(-ii +i ii| i i
ni r| nni l(ii^ ,ii ci-ii i ;li
i.l. ivi scc+ zcc -ini ril
li î r i zc.++.zc+z n (i r|
a+ia i - -il| ;-i ;li
(cii) +| -l-i li (ii) ii|
li( rn z+.cs.zccz i -nini ni
(vai) r-nii li î| i | ni|i
n a+ia z+ iln-iii,-ii ii
s i i i| li -- ii
r-niiln l r i ili -- r| -l-i
-nin li( - a+ia ,ii l|
--i,liin i i-i,in r| ri r|
-i, i| ii-ii ^ ii )(
l-ii l(ii^ nii ;-in -ni i -i
i| i|,-ii| iii - zs -+
c+ (-+, zc+c n nni i^ni
(li i i li î ii| | nni
i^ni, (li - i| i iii -
nni l(l(i ri li (ini, iiii,
(i-l((i )( ;-l-( i iiln li
î ii l- zcc i| li -ili
ii^ li| ;- l l(l(i ri i
r; i| ( r - nni | il-i i a+ia -
;| n, l(-i|,(ilil i - nni
r, inil^|-i-ii l--i i ii,
i| ll(ii ii| - i-ii i
rlii, liii-- nni )( +i i
(i) (vaiv)|
z1,a la(zi+ an
ii li, | . -i i zc.cs.zc+c
li (lii)) i - ln li
î r|
iin i, ;-in -i - l( )(
l(-i| iri | ). - ii, ii...
i ++.cc.zc+c i iil i| li
- ln li î r|
i r +i li, | ).i. lr
(i-l(l-i | - ri i | | (i
li c.cs.zc+c ir - (ii ^ri
li|
li((ilil) | )..iii (i-l(-i ri
r ,,la, li c.cs.zc+c i i r
+i li i iii ^ri li|
iin i, ;-in -i ,ii | |. ini
i iil ^ i| li -
+z.c+.zc++ i ln li î i ri
zc.c+.zc++ i iii ^ri li|
iin i, ;-in -i ,ii | )-. i.
li i iil ^ i| li
- +z.c+.zc++ i ln li î i
ri zs.c+.zc++ i iii ^ri li|
iin i, ;-in -i ,ii | +|. -i
-i i iil ^ i| li
- +z.c+.zc++ i ln li î i ri
+.c+.zc++ i iii ^ri li|
zz,a +ia li-lazi v lznii lu(a
| i-li )( l-ii +lin
+i l(i-l(-i )( l(iii-- ln(
llzic II r|
za,a lalau l-iziia
| l^l-n liii | iii i
i li r| ; +i - iil- | ^;
l(-nn ii| ; ln( ii^ -
llzic III r|
z+,a nii ii+i
- va,+,i v +, i- iii, i|
i l(-i| (i zc+c-zc++ l) | i
i ii-|ii rn iin l (
-riii-|i ,ii ii |i -
l- li î r| r i+ lilaa,
1ss1 | iii ++v+i i (i zc+c-zc++
rn ii i i i l) i| ii
- l- li î|
UUcU...U
29
zs,a la(zi+ii + -i(il- +liu
li
| lil- +ssc | iii z+z (z))) |
iii i l iîi -iil-(
+ i - l((i )n,ii r - li ini
r l
i) + -i, zc++ i -in l(-i| (i (ili
i | ni| - i iii -ii
ii l(li l( +lin i-i
--|i i i li î ii;
ii) liîi )| iii |lni i
li nii r nn n li i )
n^n i l((i li l) )( -i
î) l l(-i| (i n - nii |
| l-iln -|iii| (i - | ii i(i
ril i r| i ln l((i -n n ri ,
iii) liîi (i-i- ni i i-ni
ii - | | l-lni | ii |
nii iiiii| )( ll-nii i i
ni i i ni î l ) |
l il- +scs i(iii -ln
ii liii i ii - ln i
in i(ii| i| ,
iv) liîi + -i, zc++ i -in l(-i|
(i i i î;^ (i ln-i)
iii ni li r|
zs,a unui nia
i liîi i | i
i - (i ii i| +lini ,ii l
^ iî i li n r) ril ni ri
r| r| îri | iii i li
l) liî | l((-n îri,
ilnnii, -ii nii (i
inii )( iiili, l| (r r îri
| -iii i i li -
i- r;, ln i| i ril )( nnnii
i(i niln n r| r | ---
l) i i| ^| rini l)
;-in -i i l(li -ii nii nii
i )( | )( i ii l(li
-ii i l(iiî nii l(i l-in ni(ii
ln i| nn r|
-i ll--
li - l)
i | i
a +ai iii
i-r-+i li
-ii i|
li zz.cc.zc++
UUcU...U
30
i za1a-za11 + la(zi+ an + lu(a +i llzic
inil+i ai-ai
llzic-+
ia - +i
inil+i ai-ai +liu lii tu (iiiii +i ia
+a
,
inil+i i-u ni-i
+. i i( +-li (+.s -|-
)( s -|- +|) | -iii
rn -i i
n i i +li|
li- )( -i n||
ii| (i-ri+)|
a+ia lil-n i i( +-li r r| n,
ivi, ivi, ivi )( +|)) - i r|
r| ,+|)) | +-| -i + ( z nii ,|)|
| +-| -i z i lil(n li i ri r|
z. z -|- + ++.c i -|-
i(|
n,+ivi | +-| -i s ( +c nii ivi | +-|
-i +, z, ( + i vaivavn, +i - )
+-| i - r| ,i)| - ) i +-| -i
c i lil(n li i ri r|
. i i( +-li rn ri; i
--il l )ii
ii||
a+ia lil-n n, vaivavn, iivavn
- i- r r nii i- ii ln-ii i
i n r| r ii| (ilil ni n,ivi
| +-| . + )( +, n,+ivvn | +-| .s nii
vaivavn | +-| . +, n,ivi | +-| .+c
i ivi | +-| . + - | nr i- r|
r| ;| nr | ii| i +ivvn | +-| . + )(
z, ivi | +-| . z nii ivi | +-| . c -
lil(n li i ri r|
+. ii li rn (i- |-
).|. |
ii li l) a+ia ,ii lil-n (i- |-
).|. ivi | +-| . + ( s )( +ivvn |
+-| . s, vaivavn | +-| . + )( (|)| |
+-| . + - ni( i r| r| )| r| ii|
ivi | +-| . + )( ivi | +-| . +c
- lil(n | ^; r nii +ivvn | +-| . + ( z,
ivi | +-| .z nii ivi +-| . c - lil(n
| i r| r|
UUcU...U
31
+a
,
inil+i i-u ni-i
s. i i( l( -i|
ii rn iiiln
ilil^ l---|
; (i zcc+ - -- -i
++ss ,ii -- ii î|
r ) iin|n -iii -i r i ; i i(
+-li | --| iln i - -iii | ni
- -i i ) î| -ii i li r| +ii
;| i| | i| r| ,i)| )( (|)|
- -i i ;i;i -iiln | ^; i||
c. i; ii l---|
; (i zccc - -- -i
+s+zs ,ii -- ii
î|
;i; l-l-^ -i| - -+ i|-,- i rn
i; ii l--- l) i; ii
l--- l(ln li î r i )| i iili | iln
,+|)| - | ^; r|
z. )-| i î;i ii
l) i-| l-^ l(i;|
(i +sss - ; -- -i
+z+s ,ii ;i --
ii î|
r ) iin|n - -i r| l--i ( (|)| - ;
i | iln | ^; r|
. llli^ l- î;i ii
rn il- l-^ i-|
r ) iin|n - -i r| ; i i l-ii
i ;| iln (|)| - | ^; i||
s. +z i-c i i (lr
+-| ,ii iln i-i;l-
i-- --|
; (i zccc - -- -i
+sszs ,ii -- ii
î|
ll-i )( -(i--ii i-i - i^ - i | l-
-i ,ii l(ln i-i;l- i-- -- n
r| ;| - ir| i î-|i ii r| ii - iili,
, -|i, -, |- )( lii-- i-^| i iii
i,i(i l(r li i ni r|
+c. lnii l-i l il
--- -i;ii;-- lil^
;i;|
; (i zccs - -- i
+ss+sz ,ii -- ii
î|
a+ia ,ii l(ln il --- -i;ii;-- lil^
;i; -i^ (l-il^) ni| l-ilni -
) ilnii| -iii -nn n| r iin ivi -n,
-n l((| )( ii| i-ii( i r| +ii
- ; ii| | l+| | | ii(i r|
UUcU...U
32
+a
,
inil+i i-u ni-i
++. |(-l(ni-+i| iî
rn ii -i;i-i i
l(i|
(inil^| - n| ri r n l(i ii ii
-i;i-i | +ii - +rn | ii(i r| inil^|
i rn ; lii i ivci ,ii iiln li
î ii i ; - ni( i li î|
ivci i lii -i ln( -nn li î
r|
+z. iil-| -il-il^ l,
in i ;-n-i l-|
(--i) l (i i)
i (i rn
-| -il-il^ l---
i l(i|
(i zccc - -- l)
i(- . +s+,
i,zccc nrn ili
li î r|
| ii li +i (|||+|) lii ii
- l-li l (i i) i ln -il-il^ i
l(i +ni i ri r i l i(i ii rn
l^l-n il-( i|i ii - li li î
r| -i |||+| -i^-lii -nil+ ; iil-|
-il- i lil-n, l(ln )( i |lin li r|
+. -n ni-i - i-
(i lnii il-i rn
^- -ni )( -i|
i - ni-i - i- (i lnii il-i rn
) -r-(i l(i| lnii-i - ;i i +ii r|
++. )-+|) i - inil^|
,i-ni (, i
l(i rn +|) li- i
l(i
; l(i i i ni^ ,ii -n ^|i li
î r| i î(i ri +z i -|- | i- i,|
(+|)) i i li i ri ii, -i i zcc
i-|- | - (| +|) l-ii l) ii li r
l- -ii ii )( ri^| iiiini
i ;-n-i li iî|
+r n ^ iri ; l(ii-- i i i - ^r|
l lii| r |
+s. - ii -ilrn -i-i^
l-in (n-i )-+|)
l) ri- i-- --i(
-i ,ii i i ^) --i(i li- -
i;-;-i; il- + i i ii î r nil
n ;i ii ++ccc | n )+|-| ril ri |
;- i- l---, i- )( il- + l)
inil^| (i-( )( l-| ;-i | i iln iil-
r|
UUcU...U
33
+a
,
inil+i i-u ni-i
+c. (- )( i-- -^
l-i l--- i l(i )(
li(|
(i( -i +z+z,
i),
zccs ,ii -- l)
i( li î r)
(- ;i -i iiiln -^ l-i ii|
i i-- ii;(i iiiln -^ l-i ii|
i -(i| n| li- )( l(i i r| -^
l-i | ; nn n|li - il-i -i |
--i -ii i, li ;, i-- i
(, ri i li ili-, l-|
-li li | --ii i i - ii î r nil
-^ i i i - lnni +i i | l-iln
- ii )( -li ;-iil ^n i l(-ni ri
| r lii ;-in -i ,ii iiln r i
ni( lil(n | ^; r|
+z. - ;i - -i-îli
l) i-i;l-| r|-
i l--|

(i( -i.
++zs,i,zccz l)
--
i)
-li - ni-i ii -i-îli - ri(i| i-
--il-^ | --i -n i i l) i- --i
ii i-i;l- l-i ) i i l-ii li
î r| r i- --i i ni ii | nr r
i i-i;l- -i r|- - | nr i- ni r )(
i- --i i r|- lini r i |-- -
rini r l n - (ini(i - îli nn --i-
ri in| r| iil^ ni r il+n ri r l -nil(n
i i ;-n-i l| i| -i- î| i +cc
i|n --i- li i ni r|
+. l- NOX -il-l^
ii| i l(i
(i( -i +z+,
i,zccs ,ii zccs -
-- i )
; lii i - , )|i;i l,in i
i^ -(i| nn NOX -il-l^ ii| i
l(i i i ) l^ -- - ; ii| i i
|ii i r| ;i |ii , lii; ;-in ,
lii; - n| -iii, - ii( +-| . +c, +i
c + )( - l- )li - li î| -il-
i -i l) ^ - i;-i ii
| -il-l^ i i( r, il )l- (-)
i(i i -i l) -n rili r| r ii|
;-in i i i-i i| niî | -
^|| r l(i i -l-^ (-(ilii) i| r|
UUcU...U
34
+a
,
inil+i i-u ni-i
+s. iil (l^ l--- iil (l^ l--- i li( i)| |i+| .
+ i i;)| | |i+| . +c - li î r| +|)
i - -i; i-- (i i-^|) i li
l) ; ii| - -i )( +i-- (l^ i iil- li
î r| r (l^ ( ii -i i - i
i| lln n| r|
zc. (|)|, ii;)) l-
i- . + )( z - (-- r|-
l(| l---
ii | | --| i- ,ii inil^| -ri i|
i r| r i r- l(-nn ;|l| )( i-i| (i)
r r|
; (-- r|- l| l--- l) i l (i|
l+ r|- i ;-n-i i nii -(i; -
-in zc.c -î(i- i +i i -i l)
li iî| r i - - -| ii i(i
i| r| l lii- -( ++z,ccc -|-|i z,
(i; -i ii(| |-l- in rini r|
z+. i i( ^ rn ^ |-
l-ii )( -ii l)
+l i )( -l
li;
a+ia ^ |- l-ii rn -i i )(
-l li; li r nil sc z-zsc |. n
i( ^ i -i li i | i i( +-| -i
+ lii n^n -i lil-n ^ |-
i)| - ni( i ri r|
zz. |- i +l i )(
-il li;
a+ia lil-n c i-|- | i-ni i |-
i)| - ni( i- ri r| ;
|i+| -i + lii n^n -iiln
li î r| r -li i-ni i |- -li
-i nii l i ii (r ni r| )|)) ii|
| - i +-li - - rini r|
z. (|)| - +i l(| )(
l--|i i-
a+ia lil-n +i l(| )( l--|i i- i
l-ii (|)| - li i ri r nil cc,ccc-cc,ccc )
i-|-,i- i i( ^ i ilin li i |
; i-i( ^ +i i ) |-n| i
r, i lii ri î|
z+. | -il^ )( i-i;l-
l^,r|l-^ r-- i r|-
ni i i|
; ,iln i ,ii r- i l--- ri(
li-, l(i )( l-ii - - l-^||
UUcU...U
35
+a
,
inil+i i-u ni-i
zs. ;-l^ n| l) i--
l--i i l(i
; i | rini r- i-- l)
iiii ;-l^ n| iiln -^ l-i l--- i
li- i l(i - - l-^||
zc. ) î | i-i;
-i|-l^|
; i r- ) ii )|i;i l,in
i i^ (i| i î i-i; -i|-l^ |
i ii| i l(i - - l-^||
zz. inil^ iî l)
i-i;l-| -,r|-
r-- i l(i|
; lii | -(|ln ;-in -i, )|) | ^;
i|| ; l(ii-- lii i inil^ -i
i, + ( ^- i - i- n r n+ ii- rii r|
UUcU...U
36
1,a -ila+i
a+ia ini( | r il-i iln
| r i ; (ii - ir )( ;-in ni^
i ;|l| (i) i i i -
- i-ni l(ln | r| l (i ni^
- i(il ( i li -i
-iiln +lin rin r, -
- (- i) | | ln ;-l-|
(ii i-ni) (i-i +i ii- riî| ir
)( ;-in ni^ | ii^ln ii +ss-ss
zcc-c+ ii ri î ii ; i
i -ii r|
| n+ -(ln ii ril i
(ii( | l| l-i ii(i r rn
; - -i r| | ir, i i,
n )( ^, +i i, +îr )( i-^|
i, )( nii i(i| -ilii
l(i ii - | ^lnl(lii i l(-ni
li r| liii i li( l)
; ^lnl(lii i iin , n )( ^, +i )(
iiini i- i v+i nrn iln
li î r|
r | ;-in i i | (i
- iin r) l(l(in i i - i (i|
l( i i ii l- (i (i ii -i
l) - r| l(l(in i i - | i-ni
i +i i l i r r +l
ir )( ;-in i - - i-ni +i i
- ; |l| li i i^ + ii i ri r|
z,a +ai +i n
inil^ l(i ( n-i lni, iiiin
ii l(i )( (i ii l)
-i i n ii l)
n|| i-i|, li- ( liil|,
li- ( iln, i ( ii|,
lii ii( i - î(-ii (i)
i i (i ni-| -ini in
-- - i l(i i|
a,a ic
ui+u
^|,+i |- - l^ (i;-
ill(l-| () (i+r|) iii
liii | -iii rn | -i
r i n | i (i) i
i i(|
i-i | , li- )( l(-n n ; |l| i-ni|
+ri| l(iii -, i(|, i )( l,
r-n linii )( inil^l(i i |
i i-i-+ nii i i-^||
i )( ii| li- )( iln nii
li( - i-ni|
iini - i-ni (i i - +ii i
i i- i (-i- li^li)|
+aili
i|ln (i - i-ni i
- - ^î|
ir ( ;-in i - (r -i li
i ri | l(i|
l(l(lin ii - l(i|
- i-nii iiil(n ri l)
l(nii,-ii ii ^-+i (-i;-)|
ii(i )( ill-iln| rn -r-(i
l-||
ilia
i i-i| -iii | i-i|
i (;-ri) i-i| -iii | -iii
i |
n l(-i| inii i -i (- (i,
- i( il)|
l(i| lr-i ii l- | î;
- il-- +i ll(i i +|
iin i - ii i ni-i( (ii
i(il l|
llzic - II
+i+i li-lazi v lznii lu(a
UUcU...U
37
+,a iil+ (lc+ii
iai- ili+ lzi
l(( i(-ii ii i| r| lii--(
ivav l(i (i-i (|, zc++
î^ l(lnn r| ivav l(( ili
l-ii l-(n i iii - lin
li r l(( | i(-ii ln(i î^ +.s%
| ii (i zc++ i zc+z - + |
iii r n, n i|ln -i z.s% +|
r +l il(ii(| )( l(i- i|ln c.s%
| +rn li +| r| n i|lni
-, n i-n i, (n i lniii(,
nii -i-|ln l-ii -iii + l- r
n n r l l(i i -i-|ln (
iii i r| ii( î| +rri, il(ii(| )(
l(i i(-ii, i - -+n in|
ri^| ri ii i ;i i | in ii
r i -il |ln | l((|ni i
-i r, n, n iln - lnln i(-i
i i ili- lni | +in ni r r||
+rri, lnii nln +i ri r| -n
n i(-ii - li i| i| i(i
i| - r| -+n l(i | ii(i) )(
iin +i ii il(ii(| +iii - l(i
i ilin r r| -n ^lnl(lii i -
l(-i| ii| n i(-ii ii( i
ii i| ii r| l(ii| )lii zc++
i zc+z - .+% + | iii r| | |
i(-ii zc++ - s.cs% nii zc+z - s.s%
+ n| r| iin | i(-ii l(i |
ii(i) zc++ - .z% i zc+z - z.% r|
i-ii i- i-- ii-r|-ii |
)( l(ii ii ii n| + -n n
+ r nii +ii i +i( l(lnn +i ri
r| il(ii(| )( l(i i(-ii l
i-i | in i r-i li r i i
i + li r, - - i-- l(n
| n r| -| | -, iln | ^ln
i|-| r| r, -i - n| lnln i^n
ili +| r| ;i - | i zc+c
-ii, - l zc+c -ilin ln
+ i | ni - zc++ - n |
|-ni i (|, zc++ i n î^
sc i ln + n +i li ii, (-ni
| -i^ - iii li (l, i rii ri|
l(ii ii - -il- lin ii ^-
+ |-ni - zc i c i li
| r; (l, --i | ) )| i| l r
i () iilin lî î ii i l
iln +i - +ii | lni i +i li
ii| -i+ i+ i --| i| -
li iil- r| l(ii i (|
zc++ -( i -i| |i - i| (
ri r| ii l), - l(ii i (i
+lin iln -i rii|
-iiui iii
zcc-cs - ili - | l-î-| ii( i
i-i in iin| i-(-ii
l(| (-+ n|) i ^ r| iin|
i-(-ii zcc-cs c.% l(i |
ni - zccs-+c - z.z% i (i-nl( l(i
ril li r| l n| (ii (zccz-c
zccs-+c n) ii iin| i-(-ii
| (i-nl( l(i c.s% r| r| zccs-+c
- z.z% | l(i -i;l ^ ) (il ^
-l ^ (i )( -i l(l-ii) l(nn,
^, )( i ln, -i (l-ii) )( (i
i - r) l(i li ii
ri r| ii- | | ili iri li
,ii (i zc++-+z l) -iln l(i |
z.s% r| ri (ii - ini l^ l(i
+

zcc-cs i i + ili - | lii;
| i|, --i ri r| zccz-c, zcc-cs
)( zccs-+c ii (l, -i .c%, .z%
)( +c.s% i|| ni ^ n^n l-ii i
(-l ^ -) i ini l^ -i i
zz% r, ii+ zcc-cs i i ri
(ii - -(ln - i| (l, lii; r| zccz-c,
zcc-cs )( zccs-+c ii l-ii i -
-i s.z%, .% )( +c.s% (l, r;| l-ii
i - +li| iin )( l- i zccz-c - +z.
+% n (l, r; i zcc-cs - ;i l(i
+rn n | +.c% n lî| zccs-+c ii
;i l(i c.s% n ri|
+ inil^ -i (i; ) i; |), iii +ss-s+ l(i i
,ii inil^ l(i -ii ini r|
UUcU...U
38
+rri, iin i +z(| (i| ii -
iiiini l(ii + li r i r|
ii r l +i, , +îr, i^l
, i, li;, , i;, ii
nii ii ^r ii - ii| l(i iii
| iii r|
; | (i ii )( ii+i - ri
l (ii - iiii (l, r; r| n,
i(-ii - l((i| -| i ; ;-in
i - ln ii( ii zccs-+c - |
i (i i| - ri| l(( i(-ii i-i
- i l(ii - iin| i(-ii
--ii (l(|) i r| l- il( -
iin| i-(-ii ri | iii n
| ^; r| iin| i(-ii zc+c-++ - l
-| i ^; i i(ii| ii ; +
r | ii(i r|
i ii
( i ` - )
+a
,
v+i zaas-as zaas-1a za1a-11 za11-1z*
iazii ii iazii ii iazii ii iazii ii
+. iin +cc.cs s.sc +z.c i +z.+ c.cc zcs.cc zsc.cc
z. +i +z.+z s+.s +.ss i +.++ i c.cc i
. n ( ^ sc.c+ i +c.ss i +s.+c +cz.c +c.cc i
+. iiiini +s.c i +z.+s i z+.zc i +s.cc i
in ( `) szc.+ ++.+s +zs.cz i sss.c+ ++.c sc.cc zsc.cc
+n i ( `) sss,sz 1zs,sz szz,s+ saa,aa
*iiln,iln
s,a iul+ lai iini v +i
i-uuiv
- i ll-- i ( i| l(-i| )(
i^n ii r n n in i nl
li | ii| )( n lii --n
liiln li r, +l- ;| -iii -
r| ;i ) ;lnri )( -i i (|n i| r |
;| ii ; nr +i| ^; r l i|
i | i-ii| +lin i )(
l(-n| ( i| i^n i +lin
-i-i | l((|ni nii l-l-ni i
lin i^ lin i, i-ii|
i-ni +i rn inl iii i li
li +i, n n| | | lli
i nii | i-i i lln i
)( ln lri+-lni+ i-ii( l)
-ln li,ni | (-ii lln ri |
| --- i l i- ii| i iii(
ril rn )|n )( in
i-lr i li r|
inl li ii| | ii-ii l(iini)
; i r
|^n (-ni | i| nii i-( i
-i l) -(|ln i |
|-i ii liii i -- -ii|
UUcU...U
39
|^n l-lni i| rn lln
|lni,
i-( l) liln +- )( ln
-i|-l^|
-|ii i i lin lii- ril rn
i| ii-- -ni ii r| ii l^l-n
-n i| lnil +-|
i ^ri rn +| (;(i;) +i |
i-i; i ii| i lil(n
ii r| ii i ii| i - - -
- n i i i ll--i li
ii(| +i li î r|
lnln lli i i +l,-i| l(i )(
| i i|i +i i ll-n i
rn liilin ii ni | ^; r|
| i inl ii-|ii, +i )(
l(-n| -|ii i i i- r nil
li iini, ilini )( (i+r|
lln | i |
s,a inau lai(a + l a l-ii
lai(a li-lazi
l(-n| (i zc+c-++ - - i ll--
c+,+z.sc ii i i + n i i
( - --i ( (ii +i) li r| i-i|
ii ii +i - +z,z. ii |
+ i n| -n l(li ;-in i ril
i-i| ii ii li( - r; in
(l, ii r ; r | i-i| ii ii
ril ii +i - i ii +i i cs.ss% r
i r ((n| (i c+.+% li ii| --|
li ii i ii +i ii +i i +.c+%
r | +rri, ( (n| (i | n i - ii +i
c.cs% + i r |
(i zc+c-++ - -( ii ++,csz.c ii
r i ((n| (i -i+ +.cz% li r|
n iini i i^n li ii
ii + r) ii ii li ili
ri| i )( l(-n| i^n - - +c.s
ii | -| r; r|
(i ii | i-i i lli-+i
- ii + i i| ii| |
- ,sc+.zz ii i | -| r;| ; |
,i-ii in - ii i
i ii i - - i- r;| l(-i|
(i zc+c-++ ii ; | ln
+i - i| -i(li -i ilii ,c+z.
ii i i i ln li r|
(i zccs-+c -i+ (i zc+c-++ - |
l(-i| i | --- +in
(ii ` -)
+a
,
li l-ii i
za1a-11
l-ii i
zaas-1a
)) --i( (ii+i) c+,+z.sc cc,+zz.s
+|) i (i i ,c+z.c ,sz.c+
|) -ili i i^ni
)( i(ii
z,+z+.+ zc,zzs.+
|) i )( i(ii +,c+s.zc +,s+.zz
;) l-ii +i rn
i
+,szz.++ z+,ccs.
)) -ii i i^ni s,zsz.sz s,++s.
|) l-lni
(î i)
+z,+zz.zz ++,cs+.s
)) liii| i +c.+c s+s.c
i;) l(l(i i z+,+cz. +c,++.sc
) i l-l-ni ,ss+.cs ,c.+
) ~i )( l^- s,sz.+c c,+.z
)) i ni) )(
i(ii
zz,sz.+s c,+s+.+
)-) i | +c,+.+ +c,+.+
)) ~i llii ,s++.zs +z,c+c.+z
(| l) l ^ n r )( +rn
-| +i lii--(i lli - ii ri
r i ln +i - i (li -i - -
+z,++.zs ii i | (l, r; r|
nii aia+-1s (iilin) i i^ ii
(i-nl( --i li llii )(
lrn-ii - (l, ri i ii -ili i
i^ni )( i(ii ((n|(i +i r|
UUcU...U
40
| (i - +in| - rini
ll--i iiiini - -ri i
l) ll-ii | i|,|i
ii l(i - (l, r; r|
(i ii i(i | -ii,ii+i ;-il
- r; ii| (l, ii l(l(i-i + r|
- l- (i(il ii) - (l, i (n
|ii, ;-il li( n -ili
i |-i +ll- (l(ii lrn-ii)
rn nii nii aia+-1s (ziiliu) i
- (i-nl( --i -i| lrn-ii
rn i(ii - (l, r; r|
i ,ii -iin iiv (-(l (i
l(l-i ii) ~i | ln ili i^ni
ii ~iii - -| r; i||
l(-i| )( i^n li - ii ii,
i, ii| | - s,s.+ ii i |
(l, r;| | 'aci' - ((n| (i |
ni - s,ccz.s ii i | +in| r; r|
z,a aia iia l+i
i ni iiiln l -, -iii |
ln-,i-- l-iln i ln +n i r i
i- i+ i ; iii | i-ni
r| +rn ^ -ni i ni r| a+ia
;|l| i-i| )( ;|l| | l(l(i l(iii
nii n|| ii i - ri ii
; ni lii i i (|n- inil^|,
i-( )( ii ii l-iln n
r | n r| | ln-,i-- n|ini
i ii +i i l) r- lni |
lniii n i l(ii in
i| -ili i n liii -ri
in r|
(i zc+c-++ - -i( ii l(i ,ii l
^ - r i l-(n r
+i lii zc+c l) -i|i i-
i( zc+c-zc++ | (li -, l(l(lin
+ir| ii-ii inl i-i i
ii li î| iil (ini, ii )(
-nlni ii ;-il r-i -ili
i iilin +i| l(i i i|
c i, c , ;-il i - n||
i-i r-i -ili ii
i nn - rini l-|| a+ia,
i| | | ii| i | i| l)
^-ii -ili rn i-|( -
n |n liii i- iiln l)
^)| (|n- inil^li n-- +i
i +ir| -ii iti-rln
l-ii (iiii, ci -ni i ici -n,
iii ii i li- l(ii l-|
;-i| i- iiln l) ^)|
liii | n, r-i| liii ii,
-i ii| ii i-ni -i ii|
ivav l) lilrn, i -+,
rn r-ii (+-iiiln -( + |
nr i- ri r nii l-| i +^
ii i| liii i -i )(
nn l) ; (|n- ii| i i^
r r|
a+ia - ni +i ii| (+vav) |
n | ni +i l-ln | |(l-^
(i--il(n) nii ni +i l-ln i
^- li î r| ;-ii;i ii| -
r-i ni ii ii li -ili i
i l) i iln l) ^)
i| - -ni( i | l) ;
ii + li ^ r| ;-ii;i
ii| - -ni(i | i +zccc i
i ^; r|
UUcU...U
41
i il^ (ni i )- ii
+i-i) ii i (, l)
+va +l- i- -il ii
l, ri ri r| + n +l- s -i
i| l i r i -ili l)
-i ;i- (i ) - ii;
i r|
r-i +va +l- i - ii^ )-
i i lnil^ni r l- -i |
^lnl(lii l(li ii i -il(- li
î r| r r-i -ili +| |
ii i lnil^ni r ri ( (-
i( i l) ) ii ii^,i
- -i ,ii ln i( i l(iinni
i lin | ilii n r| c-|
lnil^ni ^ln r| c-| lnil^ni ^ln
r|
-i( iii l(i l(-i| (i zc+c-zc++
- liii rn aniui nia ++sc -
li | ni - +zss - l( i
ril li r| aniui nia | r
li -- i| - in| r|
s,a inil+i -aa
i -i^n ii - -n|
inil^| )( liil| --ni a+ia
| - iln r| ; îri | ni
nn inil^li (----i-l i-
-ii|) i ln , ^|n )(
(| li l ril li î r|
-î () ^ -n i|i,
iin| +iii i (l( ln-ii ii
ii li r| l- r ii
l(iini - iii il - ln-,i
(i ^-i ,ii |ii| liii i-i
l) i ni l^| -i r-nini
l,ni i +i - - in
r| r| l ) -i iil lrn ini
(i ^-i l) r (|-(| (|n) | l-iln
rin| r, n ; nr l i-ri+ i;
-nin i i-i ri^,)ii- -nin
n r| ; nr | i; i| r lilan
inil^| ni i i- rn iilin
ii iii ni i i ) |
ii,inl (;-ri) l(i l) ;
ii i ;-n-i i ni i ^lni| ril
)( ^|i ii -i
| n r|
l ii i ^|n li i ri r -
l-(n r
i) (l( inil^| ii| i iil(n
ii - ^-+i
ii) i(ni(i ii - l(iini i
+ii
iii) i(| il-i | lln
iv) ^- liil| ii (
l(i +
v) l(ii, li-, iii )( l|ii
iiln- iii n r
vi) i i|n )( +ir ii - r| liii
n i(, i l+i, l
ln iii rn l(i li i ri r, ( r
i) iin-i - | l(iinnii i i -+n
+ii
ii) l(l(lin ii - - l(iinni (i
-|-|) i l(ln i
iii) iin iii | iln )( i^n-ii(|
iini ii nn l(i
iv) -ini (l,
v) liii,iiii i -
lil(n,i i
s,a lalau iail+ -u(il-
(ivi)
a+ia l^l-n i-il -iil-(
(ivi) ii^ - +rn | ^lnl(lii
i iln li r| ;r -i- ni l-iln
- (^|n li i ni r
i-il liii ii
ii l-ii ii
UUcU...U
42
i(il liii
i-il -(i- i-
lini,l(iî | rini rn i-
(ii i-
î-,î-|i iiiln i-
-iii| ^lnl(lii
-| n-i,ni| n-i i
-i
vii,v inni i-
| i| -i i -ri ii
|i ,
i,-ln ,
zc+c-++ ii iln l(l(i |)i
^lnl(lii l-(n r
-ii-il liii ii n^n i| i
i-| li li +i rn n^|-nili,
l ii,î-|i ii - + iil-
liii iln l i r r|
ii +i ii nrn i| l
-- ii (n^|-nili,l ii -
-lrii l) in (z) l-ii; liii
i i r r|
i(il liii rn zc+c - n; (z)
ii i l(li l(iii - ilii li î
ii l- +z i iilin l) ^)|
+c -(i- lil( î ^ i l-
+,sc li i lî i ;i li î ii|
n -i;- - i i;, i-
ri|+i^ i, i| - zc l+-ni (i i
ii(i l-ii rn n|| )( l(-i|
rini -ri i| ^||
i iii +i-(i (I) i-| l i;
i (II) i| l î i
l-in in| î( - l(nln l ^|
iin| iln i )( î -ii, i--,
i| - (I) i-| l i; i (II) i| l
in| î(i n| î-|i (i i
ii | in| - liii li î|
nii i i (i i ) (- - i i;-|
( viiv) ini i i| l ^ i-
- ni-i |, +iii ^ - i+ l-i i ;i; |
-iii l) i,rini|
z )i;(|,) i^ni i-
i| ii l ^ i, l- î^ zc
lni ii^ li ii|
(n| ii - ri-r| i| i| î|
--i r, (ri | iln l) i|
-i i i ii î|
(i) i-| l i; nii (ii) i| l
in| î-i (i i |i )(
i i-i i i ^)|
î-|i -+i i-lnil^ni) (i) i| l
î i nii (ii) i-| l
^| in| î( - iiln| ;
ii-r|-ii i-| l +iî, -^rii
î( - î-|i ri| i lnil^ni i|
iiln | ^; i||
+( i-| i rn, a+ia ,ii |
-i i, r|, i| i i i,
ii, i| n i|i i
i iln li î|
(ir i r i , i-|, i i,
i| - iiii n i l(i )( -i ,
( n i^ni r n i-il -ii i,
rini|
| l(i ii;-| ii, i| - (i-
ri(l--^ -|- ((ii ii) i-i
| ^;|
iini ri| ii nii -i
li i-îi i i-il -ii i|
UUcU...U
43
l iî l^l-n ii (-ii + lin +.c.zc++
i iil-in | i ln( -nn n r|
| | l^l-n ii (-ii -l-i, -(ni,
-ini, ilini, (i+r| )( --i ln
ln+,ni, i ; i| --ri-i ii -+ii
i (l-in n| r, l,ini )( lin- -n
nl-i | (l, iiiln r| n ii (-ii
| i( ( | r| a+ia |
iil ^lnl(lii i - l((i ini r
i | ii +, i| iî, ii-iii|î,
îrî, ilnniî, iin i, ;-in -i,
i n- l(ii^, l(li i ii, i|
)li,l(iiî )( (r-i i -i i -i
+ini r|
1,a la(zi+ an
li - i ^- l^l-n ii +i|
ii -i^-lii r|
li-- | ,ii -nil(n i| (r
^lnl(lii | i-i ni r| - l^l-n
li +ii lrn i|ln )(
i(il iii | -|ii i -i
i| ni r|
1,1 la(zi+ an +i oa (a1,aa,za11 +i
iiliu)
(i) i-r-+i li (iil) lrn
i i- (ii-- liî)
(ii) i-il i| liî z

(iii) i-il ^-i| liî
+n s
1,z an-( +i lal+u +i ziu
iin i, ;-in -i ,ii i-r-+i
li ii-ii iil )( iil
liîi | lln | in nii i(li i
li li ini r|
+. li-- -i |
ill-,ilnln
i-r-+i li )( iil lii i
iin i ,ii liiln -il ill- i i^ni
li ini r| i-il ^-i| lii i
li - | - +-, ii l-ln |
+- nii ill- l-ln | +- - ii^ rn
+- i- i i^ni li ini r| li--
| +-i, ii l-ln | +- nii ill-
l-ln | +- - i-il i| lii i
i-il ^-i| lii ii^ ri
(i i| ii i (r | ,ii li ini
r|
1,+ la(zi+ an +i +o+
il(li i i n i li
- | +- ; +i rin| r| li -
| +- ( i| l-in | |n
ii - rin| r ln ; l-| l-in ;
;|l| ii - i| rin| r| | l(
li-- | +-i - l( i - (i)
i ni r|
1,s la(zi+ an +i +o+i +i i
(i zc+c-zc++ ii i (+) +- irn |
^; i|, li l((i | li i ri r
+a
,
+o+ +i luli an
i
liu la(zi+ii
+i i
+. +c.cc.zc+c c c
z. +s.cs.zc+c c c
. zz.+z.zc+c s s
+. c.c.zc++ z
la(zi+ii + li ltu 1 n, za1a
a1 ai, za11 u+ iilu an +o+i a
a+i lilu
llzic - III
lalau l-iziia +liu lu(a
UUcU...U
44
la(zi+ii + aia li
an
+i itu
+o+i +i
i
an
+o+i a
lilu
+i i
I. i +iln+ la(zi+i
+. | ). i. lr i(ir
i-r-+i li )(
li (inil^|)
c+.c+.zccs
c.cs.zc+c
n
i i
z. | ). .ii i, i (ir
i-r- + i l i
)( l i ((ilil
(i (ir i - r -
+ i l i c+.+c.zc+c )
c+.c+.zc+c
+.c.zc++
n
i i
. | . . -rii, li
(;|l|)
c+.c+.zc+c
c.c.zc++
n
i i
+. | . -i li
(lii))
cc.cs.zc+c
+.c.zc++
n
ii n|
II. zi-+iln+ +ii la(zi+i
+. | . |. lr, ii...
n l(, iin i,
;-in -i, ; l-||
c+.c+.zc+c
+.c.zc++
n
i i
z. | ). - ii, ii.
i.. l( )( l(-i|
iri, iin i,
;-in -i, ; l-||
++.cc.zc+c
+.c.zc++
n
i i
III. zi-+iln+ -+ii la(zi+i
+. | |. ini,
li
zc.c+.zc++
+.c.zc++
n
) i
z. | )-.i. li,
li
zs.c+.zc++
+.c.zc++
n
) )
. | +|. -i -i,
li
+.c+.zc++
+.c.zc++
n
) )
z,a la(zi+ an lalui
z,1 +ii lalu
li - iil ^-i|
lii | lln in | li
- - ii l-ln i ^- li r|
ii l-ln +.c.zc++ in r l- i
i-il ^-i| (-(n) liî i
) i il li r| ; ii l-ln
i ) i-il ^-i| (-(n)
li r| +.c.zc++ i iil-in ii
l-ln - l-llin liî iil- r|
+.c.zc++ i iil-in ii l-ln
-î r
+. | )-. i. li, li - i
z. | |. ini, li - (
. | . -i, li (lii)), - (
| l( ; l-ln | +-i ii ;
l( - i- ni r|
+ii lalu +i +o+i +i i
(i zc+c-zc++ ii i (+) +- irn |
^; i|, li l((i | li i ri r
+a
,
+o+ +i
luli
an
i
liu la(zi+ii
+i i
+. +c.cc.zc+c
z. +s.cs.zc+c
. zz.+z.zc+c
+. c.c.zc++ z
la(zi+ii + li ltu 1 n, za1a
a1 ai, za11 u+ iilu +ii lalu +i
+o+i a a+i lilu
la(zi+ii + aia li
+ii
lalu
+i itu
+o+i
+i i
+ii
lalu +i
+o+i a
lilu
+i i
| . |. lr, ii...
li, i, ii l-ln
c+.c+.zc+c
+c.c.zc++
n
n| n|
| ). . iii, li
((ilil) )( i-r-+i
li ( -, ii l-ln
c+.c+.zc+c
+c.c.zc++
n
n| n|
| . . -rii,
li (;|l|) )(
-, ii l-ln
c+.c+.zc+c
+c.c.zc++
n
n| n|
UUcU...U
45
la(zi+ii + aia li
+ii
lalu
+i itu
+o+i
+i i
+ii
lalu +i
+o+i a
lilu
+i i
| )-. i. li,
li )(
i, ii l-ln
+c.c.zc++
+.c.zc++
n
) )
| |. ini, li )(
-, ii l-ln
+c.c.zc++
+.c.zc++
n
) i
| . -i ,
li (lii)) )(
-, ii l-ln
+c.c.zc++
+.c.zc++
n
) )
z,z il~la+ lalu
| li - - iil ^-i|
liîi | lln in li -
,ii ill- l-ln i i| ^- li î
ii| +.c.zc++ i in ill- l-ln -
i i-il liî i ) i il
li iil- r| iil ^-i|
(-(n) li ill- l-ln i r|
+ n rin| r n+ ill- l-ln |
+- rin| r| ill- l-ln - c.c.zc++
i iil-in l-llin liî iil- r|
+.c.zc++ i iil-in ill- l-ln
-î r
+. | +|. -i -i, li - i
z. | . |. lr, ii.i.., li - (
. | . . - ri i, l i (; |l|) - (
a,a ia -ii +i +o+
| | l| i i- ii +-i i l((i
l-(n r
i l(ai+ a iia
zccc-cz zz ^-n,
zccz
ir
.cc +
;-in -i i
--| -, ni^
i(, ; l-||
zccz-c +c i;,
zcc
ir
+z.c +
;-in -i, ni^
i(, ; l-||
zcc-cs +z i;,
zccs
ir
+z.cc +
+i -, ii
ri-, ; l-||
zccs-+c zc i;,
zc+c
(ir
++.cc +
;-in -i, ni^
i(, ; l-||
+,a (iiiii
+,1 +liu ici + ii na-(a
+lin il-i ii l ^ -
+i| i| -i| l((ii i ii l-ln
--i ili ii ini r|
+,z nii+i-ti +i (iiiii
l(-i| l((ii i ni - ;--|- i
i- i- i ;li ,ii l^n i|
i^ iii -ii i i li i
ri r|
+,a aina aii-
| | l(-i| l((lii i i -ii-
li-- --i ii î ii|
+,+ +i-ina lli
li-- li----i i
| (l- +i rn i i l(li )(
|ln i liiln li r| l(li | ln |
(+i;- - | ^; r| li-- i|
-i )( | - iliili l(li
i rn | -(|ln | r|
UUcU...U
46
i -,
a+ia lnlac
-ni
. r- ini -i ll-- s -i, za n i | lnli i -in i
| ii ril i ir li| i ii|ii li r| ; l-i| llii i
ni i il- | i i r| r-ii il- | ii|ii iii ; l-i|
li| i - | i n i r|
z. r- iin - i-in -|n ii -ii i ii|ii i iln li r|
-ii | ii r l r- ii|ii l ; nr | ii i i ; nr ii|ii
i l nnn ii in ri i l ii li - i; -n nni| r| r|
ii i - i, |ii iii , ili -i i i l-i| li| - -|i
iil- r| ii i - i ,ii ;n iil,in -r-i ii iiii in|i
l-i| li| -nn|i -~i i i i| iil- rni r| r- li r l r-i ,ii l n
ii|ii - nil iii ln-i r l iii r- i li n li r|
s. i l | (ii i ln) ii, zaas ,ii lin r r- n ii s
r - llrn -i-i li lli- - n r, nii i l | lil-, src |
iii zz/ () ini i| iin | | i ,ii i| | (ii i ln) (iii)
ii, zaa ( ii - lin li ini)|
. in lli- - lin r-i| l-lii ii r| ii, r- r lnln n r l
(i) r- | ii|ii l i i| i i --|i in l r, i r-i|
i-i- ii| li l r-i ii i rn i i,
(ii) r-i| i - , i l ii lri r-i |ii n|n ri ni r , | ,ii, lli ,ii lin
-ln ii lri i| n; r nii l iiii iii - r- i r| ri r-i|
ii|ii l n in llii in ri n; r,
(iii) ; ln ,ii lln n, ii ril ii i ir li| iilri
- iin| r,
(iv) r-i| i -, ; ln - ln n, ii ril ii nii i ir li|, ii
-ii -| lil- src | iii z | iii (s|) r|
(v) iin i, l-i -i, -| -i- liin | li z -, zaas | lii i
i,v,i,szs() | ini -nil | lil- src | iii z/()(s|) i in
iiii i| li i s- in r|
r. r-i| i -, nii r-i| i-i- ii| r- i i n --|i i, lin
i i ii l-n -r-i iii |lni | | l-lii | lil-, src
nnn ilsn ii| lin n -|i iii l,ini l-llin i i-nl
nii-ii+i +i lu(a
UUcU...U
47
ln li -nn n| r
() n -i- -, s -i, za n | ii i,
(|) ii ril i -i- - n lnli i -in i - | ii i
(|) irli -i- - n lnli i -in i - ir i|
-ii i| n va,+,i v +,,
li s.ac.za i- iiini
ra,
((i+ ++i)
iin|i
-ni -i a/ss
UUcU...U
48
nii ii+ + lu(a +i llzic
tai lu(a +i a+ luli + (-i a
i. ) ; | nii-- ii | l-l-ii | l-iln i i i iii
, s -i-i i si l- l-l-ii l-- lii i nn
| li i| r, lrn i li iin r n li ii r|
|) i ,ii | | l-l-ii i iiln -i li ni r| i l r- ln
li ni r, i-- i iln li ni r i -i ii i; iiln ll-nni
r| i| n; r|
|) r-i| i - i r- | n; i --|ii i, i ii l-l-ii
i i; -r-i l-i r| li ni nii | i i iiln r| ri r|
ii. ) i ,ii i n - ;-li (i-i|) i iiln -i li ni r|
|) r-i| i - i r- | n; i --|ii i, ;-li (i-i|) iiln
-i rn i ,ii i| i r| li i-in nnn r i | ii
i | ln i in r in r |
|) r-i| i - i r- | n; i --|ii i, | | ;-| (i-i|)
i n li ii r i iiln -i ii i-n| iiln ii i li
(lillin li) | i; -| r| i| n| i||
iii. r- | n; i i --|i i
) | lil- src | iii sa nnn i n l-- - li, -i ii
il-i i ; | l| nr i lin i ilin ~i -|n r| li r|
|) | lil- src | iii sa nnn i n l-- - li, -i ii
il-i ; | l| nr i lin i ilin ~i r| li r|
iv. r-i| i - i r- | n; i --|ii i, | ii i ; i |
ln i ;-| (i-i|) l-lni | i| nii -i ii | l|
l ri in inl li ii| r| ii ii, r- inl li ii|
- l| | i r| ii r|
v. i ii ii nnn i i; i ii ii-i r| ri r l | lil-,
src | iii sa l-- - l~lin | n ri|
vi. i i i ; | l| nr i i ; i l -i -|i r| li r i l, |
lil- src | iii rs rs - liilin r|
vii. r-i| i -, -| | inl ii ii| i-in ; ii i | ln -
iin| r|
viii. r- | n; i i, | i | lil-, src | iii zas () (|) nnn
| rn inn lii ii i iii r| li r|
UUcU...U
49
ix. illi nii ii -i- - r- | n; i --|ii i
) r |, illli, li, liii ii lli, -i| i |-i, i, l| ,
-l-i , i , |-i i~, -i i~, (liii) i-- illi i
lin, i | in r, liln illi ii i n iliili i -i
- i-in ll-n r| r|
|) r- | n; i --|ii i, s -i, za i iil-in ii l-ni i
ri i; i| liln illi ii r| r, i | inn lnli c -r| li i
ri|
|) r- | n; i --|ii i, ri liln illi i r lr s -i, za
i iil-in -i r| li ni r, i li l-n r
i(zi +i aia l li -+l-iu t+
a
(ia)
ilzi
(nii )
| l|
lil- lli
ii l|
lil-|
ssszaaa vcivci, .|. z.za
zaazaaz vcivci, .|. a.a
ssssr iilil in, i| zs.a
ssrssc iilil in, i| zrs.z
ssszaaa iilil in, i| z.r
zaazaaz iilil in, i| s./
zaazzaas iilil in, i| ac.cz
sssss || ilii, -ii c.r
zaaszaa ri in, -ii c./
sssss,ssssr
sscss/
iici, ii a.c/
ssssss iici, ii a.cs
zaaszaa nii ii z/.cs
zaazzaas nii ii ss.ss
zaazaar nii ii .sc
zaarzaac nii ii /s.ra
zaaczaa/ iilil in, i| s/.ss
zaa/zaas iilil in, i| s/.r
sscss/ ||-|, i| .sz
ss/sss l| iilii, r-ii, nin rz.ss
ssssss l| iilii, r-ii, nin zs.as
ssszaaa l| iilii, r-ii, nin s.r
zaaazaa l| iilii, r-ii, nin s.ss
zaazaaz . in, r-ii, /./
il lli lli
iii lil-, srz
zaaar iv, || iilii, ; l~| zss.sr
UUcU...U
50
x. | i i n n l| i | ln ril r| r| r-i ii ii l-i| i
- ; | i | ril r| r; r nii ; n-i |n n| i - i| | ril r| r;
i||
xi. r-i| i - i r- | n; i --|ii i, | ,ii l-i| -ii, i
l ri~i i inni - r| r; r|
xii. r- | n; i --|ii i, ; | , ii i i, li |
lnilni - -in iii i; ~i ln- -|n r| li r|
xiii. r | i; l- i lli,- ll- ,ii;-| r| r| n ii, i
(xiii) iii | in r| r|
xiv. r | ii, lnilni, iiiii lii i i- ii i r| n| r|
ni, ii i (xiv) iii | in r| r|
xv. r- | n; i i --|i i, ; | i ,ii l| ii l-i| -ii
l n ~i rn i; ni-| r| li r|
xvi. r-i| i - i r- | n; i i --|ii i, l-i| ~ii l i |
l l n i l l | n i||
xvii. r- | n; ii| --|i i i | n in|i |ii
r- r lnln n r l ~i| li l | n; lli i ;-n-i |ii| li rn
r| li ni r|
xviii. r- | n; i i --|i i, ; | lil- | iii sa nnn i n
l-- - l~lin il-i li ii i li-i| i- i| r| li r|
xix. r- | n; i i --|ii i i ii | i; iiii lnn r| li r|
xx. ; | i ii il ln-i l l| i | nir| r| | r|
xxi. r- | n; i i --|ii i, ; | i r| ; ,ii i ii
iiiii| i i; -i-i ii ni ii lnln li ni r|
-ii i| n va,+,i v +,,
li s.ac.za i- iiini
ra,
((i+ ++i)
iin|i
-ni -i a/ss
UUcU...U
51
+ai lilaa, 1sss +i iii s1s (+) + -uu
a+ia lnlac + a1 ai, za11 +i ai-u tv i + ni
-iiu + la+ v ati nii-ii+ +i lc-lii
| lil-, src nnn llrn l-i| ln li i s -i, za i -in r
i i -i ll-- | l-i| li| ni i il- | i i r| i li,
;--|- i i- i-- i ;li ,ii ni l-i| llii | lil- src |
iii zz/ i, iin l -ri ii|i ,ii | lil-, src | iii cs (z)
nnn ln illi ii|ii ,ii ii ii liiln -ii i -nn
l-i| llii | i | l--i| r| li s , za ii ln
i i li ni r |
-, iin l -ri ii|i | i | lil-, src | iii cs (s) nnn
s -i, za i -in r i l -i ll-- | l-i| llii i ii|ii
li r| r ii|ii i illi ii|ii ln i li i nii s
ii lii | ln i , i lli ii|inii | il- i |l-n snis
iii -n - li ni r| ii|ii i iii | i; ~i|
in - i - r| i; l | lil- src | iii cs () nnn i; l-i|
ii illi ii |inii ln i; lli- | n r|

n iin l
-ri ii|i | i
ra,
-ii i| (aai ti)
li z.ac.za ii li, ilil ii|ii
UUcU...U
52
a1 ai, za11 +i una-
(ii ` -)
ai a1,aa,za11 +i iiliu a1,aa,za1a +i iiliu
lalii +i iu
ziiili +i lalii
) i |
1a,a1a,s+
a,ss.s
|) liii nr i n z
1z,+z+,ss zz,zas,za
s,/. s,/ca.sr
+i - lalii
) lniln ~i z|
a,sa
.cc
|) lniln ~i z|
s,saz,sz
z,aa.s
iilu + (ui s+z,zz
cs.s
i a1,ssz,sz zs,s+z,zs
lalii + i
n ll-ui
) i s, s| s|
1z,1zz,zz
,cs.ss
|) i-i -~ ri
+,s1a,zs
,c.rs
|) l i
z,a1s,ss
/,z/.s
a laaiiiiia +i s|
zz1,+s
zs.sc
lazi s;
s11,sz
ra.aa
iin ll-ui, +i la
) ii |
1sa,1s
s./s
|) liii| i
+as,1s
ss.as
|) lli i
z1,+sz,ss
c,s.rc
|) ii
sa,z1s,za
s,cs.ss
;) i l-l-ni
s,ss+,as
s,css.s
) ~i ln-
s,sza,+a
c,ss.sz
ss,aza,+z
s,acr.rz
ici in (uiv iiia r
) ni
sa,zzs,a1
r,ccs.c
|) iii
zz,z+s,s+
/,s.sz
zz,sza,1s
cs,r.s
lan in ll-ui za,s+z,zz
/,s.as
i a1,ssz,sz zs,s+z,zs
; ii | r i ii i i r|
r-i| ;| lnli ln i
n va,+,i, v +ai
i- iiini

ra, ra, ra, ra, ra,
((i+ ++i) (l +i--ii) (v,yiii) (, ai) (v, +, iii)
iin|i | l -rii (l-i) li (lii) iri li
-ii i|
li s.ac.za
UUcU...U
53
a1 ai, za11 +i ai-u tv i +i ni-i-tila nii
(ii ` -)
ai in i ui i
v, i
) | n; ii i l-ii - in i c() s+,1az,ss ca,//.rs
|) ii i i c(|) a,s1z,sa s,sr/.a
|) i c(|) 1,asa,az ,a.s/
|) liii| i - lil,,(ri) c(|) (s1a,sz) (crs.z/)
;) ii l n - l iii a,1s rcs.
) l iiii | n r| r l iii saa,ss ,ss/.as
i (v) ss,s+1,ss ss,za1,1z
+i,
) -ili i | n; nii l lin ili / zs,+z+,+a za,//s.s
|) -ii-il i lii s 1,1za,as ,ar.
|) i i i s +,s1s,zs ,rs./z
|) i i l-i| ii s +ss,z1 rsc.a
;) l-ii lii rn i 1a,szz,++ z,car.ss
) -ii i inni s,zsz,sz r,r.ss
|) -~ri asa,sz s/s.as
i (+i) s+,saa,1z s+,a1s,as
i + lnv ni-i,(tila) 1+,1as,zs 1z,+1s,zs
i,(i-i ) n| ii lin -ii a (1s,ss) rs.cc
+ ni-i,(tila) 1+,asz,sa 1z,+ss,++
i-i l iii
-i-i (;- z.ss ii i -l-i
iil- r (n| i a./a ii ))
+,+s+,za s,szc.a
i-ilnn zss,1z //.
n| i (ss,a1) +,zz+,a1 (ssc.a) ,za/./
+ (a + +i( ni-i,(tila) s,ass,+s s,zsz,zz
i ii ril i (iii) i -i (i|) ii - (s,s1a,s1)
i-i ilin iin - -iiinln s,ass,+s 1,++s,as
i-i ilin iin -iiinln s,+1s,ss ,as.a
li-i| iiii rn iii a1s,aa sr.aa
li-i| iiii i iii s1,1a ass,1a rz.sz sc/.sz
una- a lau zii ni-i,(tila) z,ssa,+a a,aa
lu zi a (-+ 1a,- + l+u a- )
i-ii i iii i ii s,aaz.ss /,ss.sr
in ii | -i i a,ss,sca a,ss,sca
lu zi a (+l+ v lnc ) zz,+a 1s,sz
| c ii li n r|
;| lnli r-i ln | ini
n ..|. |
i-ln iiini
ra, ra, ra, ra, ra,
-ii i|
li s.ac.za
UUcU...U
54
a+( it llii (-i lli)
ili (ii ` -)
za1a-za11 zaas-za1a
ina lullii a+( it
lan ni-i,(tila)
i -ii
-~ri
ll-ii | l| ril
i li ni li ~i
li ~i l iii
i li ni |i;
i l-i| ii
i-i -ii

ll-ii | l| ii
i iiii

ii| | lni i ii,(ril)
i -ii
-i|
liii| i
~i|
i l-l-ii
~i i ln-
ni iii
i-i -ii rn
-i|
liii| i
~i|
i l-lni
~i ln-
ni iii

ina u a+(
i-i inni li ni
ina lullii lan a+(i
( v )
1+,asz,sa
+1s,ss
+,s+
s,z1
ss,ss
-
+ss,z1
sz1,sa
z,as
z,sa
+,ss
1s,asa,a+
-
s1a,sz
-
sa,sz
-
s,+sa,1z
1a,as+,s1
a1,+s
-
s,z+s,ss
-
z,+sz,ss
-
z,zaa,sa
1z,asa,ss
1,aaz,ss
1s,a+s,aa
+z,+cs.++
ssa./s
s.zs
r./s
.s
.c
rsc.a
+,c+z.cz
.z
z.ra
.sz
+,s+.+s
.sz
crs.z/

sa.sz
z,s/c.cs
+,+c.ss

z,asa.rr
r,cac.z/

z,csc.z
+c,zsc.sc
s,raa./s
c,zsc.+z
-i
UUcU...U
55
a+( it llii (-i lli)
ili (ii ` -)
za1a-za11 zaas-za1a
lazi+ +ii a+( it
l-l-ii | i|
l-l-ii | l| ,s-i;
li in
i iiii
lalziu a-i i-u lan a+(i (+i )
l-ii lullii a+( it
ilin ~i i inni
in ~i - iin- (inni)
inni l n iiii lrn iiii
i l-i ii
l-ii lullii a+( i (i )
a+( a lan lq,(+ai ) a+(
a+( au- (v) + (+i ) + (i )
i-i a a+( v a+( au-
u a a+( v a+( au-
(+s1,zs)
a,s+
(1,sz)
z,sa
(+sz,s+)
(a,saa,aa)
(1a,sa)
(asz,az)
(+sa,sa)
(+,ass,zs)
11,sz1,z1
+s,ss+,ss
sa,z1s,za
(s.s)
z.z
z.ra
(+cc.s+)
(s,cs./s)
(sr.zs)
(scs.rs)
(cz/./)
(s,+zc.zc)
+,zcs.+c
+z,+s.ss
+,cs+.ss
lc-ii
. s -i, za i iil-in -n~ - s.cz ii i | | (((n| (i r.cs ii ), -
-i /z.sr ii i | | (((n| (i ,ss.sc ii ) - -ii; -i ili rs,/sa./s ii i
(((n| (i /,rr.s ii ) iil- r|
z. s -i, za i iil-in -n~ - -ili ii i - n -ii| -i
- sar.ss ii (((n| (i zsa.// ii ), -ii| -i - iiv ii ;n ili i sss.ss
ii (((n| (i r. ii ) nii zaa.sz ii (((n| (i i ) i ivi ii, i
lin i rn in ll--i i r, iil- r|
n va,+,i, v +,,
i- iii
ra, ra, ra, ra, ra,
-ii i|
li s.ac.za
UUcU...U
56
ai, i a1 ai, za11 + una- +i zi t
ai 1 zi i
(ii ` -)
a1,aa,za11 +i
iiliu
a1,aa,za1a +i
iiliu
ili+u
- a, a ,a,aa,aaa (n| i ,a,aa,aaa) i-ii
- a, a c,sa,aa,aaa (n| i c,sa,aa,aaa ) r% n|
||- li-i| i
+,1aa,aa
s,aaa,aa
,aa.aa
c,saa.aa
1a,+aa,aa 1a,+aa,aa
lau, l-i(-i i (-i
. +,a1,as,asa (ui i +,a1,as,asa) -+ 1a,- + i-izi+
i| i iin i-ln ii -i|ni i il-n l
n r|
i-iii - za,,saa i-ii i li i -i
i-ii -, iin i, ;-in -i ii -i
li r -;, s/s . c(aa),/s () i i|
l-in - lr-ni --| ll-- | l-l-ii i,
~ -, ,as,aca i i -i i i -,
ca,aa,aaa i-ii i i -i i - s -i, zaar i ii iin
i ~i ln| i -i i-ii - /,za,aaa
i-ii i i s -i, zaar i iil-in iin i i
~i i i i -i i-ii i - ;-in -i li
sa -i, zaa/ ii . (c),zaa - ,ii il-n
l n r|
z. s,aa,aa,aaa (ui i s,aa,aa,aaa) + s% -i iia+n
liaiai zii +i -+ 1a,- a- + t, za11-1z i
ili+ l+zui a iia+n t+
iin i ;-in -i li zs.ac.zaa/ i
(c),zaa - (. IV) -|ln i i|
i iin i-ln ii -i|ni i i -i i
- il-n l n r |
+,a1a,s+
s,aaa,aa
+,c+.+
c,cc.cc
i 1a,a1a,s+ 1a,a1a,s+
UUcU...U
57
ai zv lizii t v +u
(ii ` -)
a1,aa,za11 +i
iiliu
a1,aa,za1a +i
iiliu
+i +iaia lizii
ls n i
i ii ril i nln #
i-i ii ril i - nln ##
1,as1,a+
s,szz,sz
+aa,ss z,saa,aa
,as.a
+,c+.c+
aa-i+a lizii t ###
ls n i
i-i -~ri -ii ii ril i - nln
z,ass,az
z+,s+ z,a+1,+a
z,ssa./
z.c z,cc.cz
ni-i tila ni + ai lizii z,ssa,+a -
i 1z,+z+,ss a,++z,11
# ; i | c,szz.sz ii (n| i ,as.a ii ) i l-i liii i -iiln li r|
## i ii -iiln iii i ~i-i ii ii ril - nln li ni r|
### | ,ii s ilii -~i ii s.as.zaaa i ss/s.zs ii i -~iln liii
i -iiln li ni ii| s -i, zaa n ;- ,rs.c ii i -iiln li ni ii ii i ii
s -i, za i -in li - ilii -~i - r -~ri ii z.c ii i -iiln
li ni|
ai z+i lu-iu +i
(ii ` -)
a1,aa,za11 +i iiliu a1,aa,za1a +i iiliu
ii | n; ii| | $ a,sa .cc
i a,sa 1+,ss
$ +ai +i nii i ili ai +i ++ + i +i+ i + i-u+
UUcU...U
58
ai zi lu-iu +i
(ii ` -)
a1,aa,za11 +i iiliu a1,aa,za1a +i iiliu
iiv tu +ii ici ++ +i
i -i i| i
luai +i*
1,aaa,aa
z,sz 1,aaz,sz
z,aaa.aa
.s z,cc+.+
li i
+i (
ii +i
l+u a-
(,)
+iaia +i luli
|.
|||.
c.sa% ,aaa,aaa
,aaa,aaa
r (i i ili lni
- z.as.zaas ii)
i-i -~ri (z,r)
(n| i ,r)
r (i i ili
lni - z/..zaas
ii)
i-i -~ri (z,r)
s,aaa,aa
z+aa,aa
s,saa,aa
z,saa,aa
a,saa,aa
c,aaa.aa
,zaa.aa
c,raa.aa
,saa.aa
,saa.aa
(n| i ,r) a,saa,aa z,saa,aa r,zaa.aa +c,ccc.cc
* ln| i iin i ,ii -iin r i
ii r| ii ;r nin -riii | nii -i
;ii l-in -l-i (s.as.zaa i iil-in r|iini
-~ r.a ii ) l i| lin ii ni r|
i s,saz,sz 1z,aa1,s1
UUcU...U
59
ai av n l-l-ii (iai-)
(ii ` -)
l-l-ii + +i
-iiu a-ti
+i iiliu ac
ni+
a1,a+,1a
+i
iiliu
i + (iia
lqa,
aiia
i +
(iia
l+,
aiia
a1,aa,11
+i
iiliu
a1,a+,1a
u+
aiia
l+,
aiia
i
+ (iia
a1,aa,11
u+
a1,aa,11 a1,aa,1a
. il- zcc./s zss,zs - zss,zs zcc./s
z. ,
li
a.rr a,ss a.zr a.a a,zs a,zs a.sa
s. iln
l
s./s a,zs . (a.a) a.ac 1,z1 z,ss z.cr
. i|
ri~
s,aar.s a,aas,+s r/./s s.ss sss,zs z,+as,za zs/.cs
|
ri~
az./r 1az,zs zc.sz a.a .cs zs,ss z+,1s /r.ss
r. |
l
/s/.rz .sz s.sa z+s,s+ scr.ca s.zs sa.s asz,++ ass,1a s/.sz
c. nili sc.s a./ as,za z.sr a.c/ s.s 1s,sz za,ss z.as
/. lnn i-i rss.ra zs.ss /.ss sas,ss zs/.z/ .rc sa.ar azz,zs zsz,sa zsc.zs
s. -- ri ,rrs./s za.zs z/.s 1,ssz,ss ,. z/.zr ss.as 1,zss,zz asz,a1 r.sr
s. --
i- (-n)
ssa.ac ss.z +1s,1s zs.zz ss. aaz,ss 11s,sz cc.s
a. lli -n
-ni lrn
,zrs.rc zs./s s.ar 1,zz+,aa szs.as a.zc .s ss+,z+ +1s,ss sr./
i z,sas,za zaa,sa s1,ss s,11+,zs a,+az,sz +s,aa asa,s+ a,z+a,as +,az+,az +,saa,1s
n| i i /,crs./ scs.ss ss.aa /,ssr./s s,as.ra rs./c s/.ss s,az.r/ ,rss.c ,rr.z
UUcU...U
60
ai a+i n l-l-ii (iail+ liiv)
(ii ` -)
l-l-ii + +i
-iiu a-ti +i iiliu ac ni+
a1,a+,1a
+i
iiliu
i +
(iia
i,
aiia
i +
(iia
l++i,
aiia
a1,aa,
za11
+i
iiliu
a1,a+,1a
+i
iiliu
l+,
aiia
i +
(iia
a1,aa,11
u+
a1,aa,11 a1,aa,1a
. il- ,z/.s a.s/ 1,z+z,as - 1,z+z,as z/.s
z. , li ss.z as,1z r.cc a.cz 1s,zs z1,s+ zz.c
s. iln l rz.rz 1sz,sz cs./a a.a z.r ss,za ss,zs ss.sz
. i ,/ss.sc zs. 1,sz1,1a cz/.rc sc.za ssa,zs 1,aaz,a+ z.a
r. ii sz.z sz,z1 /.ss (a.a) .s 1s,zs sz,sa c.zs
c. -i| .s/ a.a/ +,++ .ss a.a a.s z,1s z,zs z.ss
/. | l sr.// .sz az,ss zr. z.s zz,sz s,sz a.ss
s. nili a.c a,s1 a.ss (a.a) a.a a,++ a,1z a.zz
s. lnn -ii s./a s.s/ 1ss,sz c./a a.a z./s 11s,+z ss,1s cr.aa
a. -- ri ./ a.az 1,zs .a/ (a.a) a.r 1,za a,sa a.c/
. lli -n -ni
lrn
zrs.sc za.s zzs,sz s.r/ a. 1sa,ss 1zs,ss r.zs
i a,z+a,zs zsz,za a,az +,aaa,ss 1,a1+,a1 - ss,as 1,aza,+a z,saa,zs z,zzs,zs
n| i i s,/z/.rs r./ s,/s.zs src.s (a.a) r/.r ,a.a z,/zs.zs z,//.r
l-i| iii |ln -i z.z i i ii a ,aaa, - | inn n i|| n; l-l-ii i
i- - iiln i | s - iil- li ni r|
UUcU...U
61
ai ai n l-l-ii (ia i tci (i )
(ii ` -)
l-l-ii +
+i
-iiu a-ti +i iiliu ac ni+
a1,a+,1a
+i iiliu
i + (iia
i,
aiia
i + (iia
l++i,
aiia
a1,aa,za11
+i
iiliu
a1,a+,1a
+i iiliu
l+,
aiia
i +
(iia
a1,aa,11
u+
a1,aa,11 a1,aa,1a
. ~.-|.|., --;
l-in ii
l ##
z.s/ 1z,az 1z,az z.s/
i 1z,az - - 1z,az - - - - 1z,az 1z,az
+n i
(av, a+i v ai)
11,ss1,as +ss,sa sz,zs 1z,1zz,zz +,+1s,ss +s,aa ++a,za +,s1a,zs z,a1s,ss z,zz+,s1
n| i
i
,sss.cs ss./a ss.aa ,cs.ss ,ac.ss rs./z ar.s/ ,c.rs /,z/.s /,ss./c
l-i| ## i, ln -~ i i, | i -~ -|
ai ai lai(aiiia an +i
(ii ` -)
li
a1,aa,za1a
+i iiliu
izii (ila
+n-)
i a
lqa,
aiia
i
i + iia
iu,
aiia
+i iiliu zii
a1,aa,za11 a1,aa,za1a
. ii| i, --;
i linri
zs.a .s zsa.rs zsa.rs zs.a
z. i| l-in ii|
-ili i
-i l-in
ii, i i
nii ni i
i lii ;-il|
zs.sz sz./ zz.s zz1,+s zs.sz
i z+s,as zaa,ss +sz,az zaa,sa zz1,+s z+s,as
--; - i| n ii| ii i |n,-iiln i i nnn | s| - nln li ni r|
in i ui i
lc-ii - a-ti +i ica
i) i l -~ri,liii asa,sz s/s.as
ii) -~ri ii -~i liii ni z+,s+ z.c
iii) n| i lin -~ri az,az ./a
++a,za +as,az
UUcU...U
62
ai a lazi - niu
(ii ` -)
li
a1,aa,za11
+i iiliu
a1,aa,za1a
+i iiliu
+, (ii +inia
ii (aqu)
/.ca
/.ca
. ii raaa i -i i-ii, i - --l
;|lln ~-- (i;|li) ll--, i i;|li
- ; |, i;|li i | i li i i;|li
inli | n | i - -iiln | n;, i -i
i | i ra% r|
i-i li -~ - ri rn iii
z,sa
z,sa -
z. . a, ln i -i i-ii i lri |i ;-in
ln- ll-- i ra,aa,aaa i-ii i
saa,aa raa.aa
s. . a, ln in i-ii i lri i ii--
~-- ll-- i aa,aaa i-ii i |
i . a, ln in -i i-ii i;- ; nnn
a za, ln i-ii |l-- c,sss i-ii ii
i |
1a,aa
1,sz 11,sz
a.aa
a.aa
s11,sz ra.aa
UUcU...U
63
ai + in l-l-ii, +i v la
(ii ` -)
li a1,aa,za11 +i iiliu a1,aa,za1a +i iiliu
v, in l-l-ii
i) inn -~ -~i i i
,ii li-ilin i-i
) ii i lnln
|) -i i i i-n|
|) -- -
ii) ii| i (inn ii
-iln in -~ - iii
)
i-i| ii rn
iii) lli i (l
(lnilnlrn))
s -ir li ii ~i
~i
) ii -i n
|) li -i n
i-i li ~i l iii
iv) -i
) i , i --i-
|) liln - -i ii
;- ni-| i ii-
ll-| (lniln) -
. c,sra ii (n| i
. r,csa ii i)
l--ln r |
|) liln i i iin -
sz,s+
++,s+
1a,11

s,sas,+z
1z,+zs,az zz,aaa,z+
z1,+sz,ss
sss,ss
zz,aaa,z+

sss,ss

1a,sz
ss,zaa,za
+zz,as
1sa,1s
+as,1s
z1,+sz,ss
sa,z1s,za
cs.sz
s/.ca
z.z

r,ss.cs
,ssa.ss c,ss.a
c,s.rc
ra.r
c,ss.a
ra.r
r.cs
/,rr.s
,ss.sc
s./s
ss.as
c,s.rc
s,cs.ss
+i, - in l-l-ii
i) ln ln ii r| r
ii) i
iii) ln ili ln i ;i;
(|) (i,) r| ii ni r|
z,sas,zs
szs,1a
s,a1s,z+
s,ss+,as
,/.s
c/s.c
c,rsz.a/
s,css.s
UUcU...U
64
ai + in l-l-ii, +i v la (+azi)
(ii ` -)
i, +i uii l a
inn - ~ - ~i i i ln - i n
i i-n | - | i r
) - ii i ln -
|) i-ln i l i ln ni i nii
- ii i ln -
i-i li ln - r n iii
|) - ili i ln -
|) in r i i ln -
; ) -i
) l-i ln i -i
i| ilii

i-i ii ili -i i r n iii
i-i i -i i r n iii
|) | i i
i-i | i i r n iii
) n iri | n; l-in iln
i-i | n; l-in iln r n
iii
i; ) i i ln - i nni (-|| - n
. r,ss.ss ii
n| i . s,/s.a ii)
i-i iii r n iii
) li | nn n l| r n
li ni i nni
) i - l- (; -)
) i - i- -
-) i i
zz,aa
z,1zs,++

1s1,s+ 1,ss+,sa
+s+,az
1ss,sa
1+,aa

s,+a
+s1,s+
z,az
1sz,as zsz,+a
1sa,zs
z,+s 1sa,zz
1s1,s+
ss,s1 s+,sa

1a,s1z,zz
s,ssz,as 1,zaa,ss

zss,1s
zz,a1
1s,ss
asz,+s

s,sza,+a
s,cs
z,sz.z
sz.as z,aaa.r
zcs./a
/a./s
s.s

r./
as.rr
c./
s.s z/.sc
cs.za
s.a ca.c
z.ca
/.sz c.cs

/,/s.r

r,rc./s z,zaz./s

/c.s/
sc.as

ssc.cc
c,ss.sz
i ss,aza,+z s1,ass,sz
UUcU...U
65
ai + in l-l-ii, +i v la (+azi)
(ii ` -)
+i uii la +i li
~i nii ln-
) lnin, iii| -i| n| i-n| (#)
i) lnin, iii| -i| n| i-n|
(#) i i nili l, lnin
| lii ii liili ii - l|
i ii i ~i i ri l| ln ii
ii n - li ri|
s -i , za i -in li i i l| i| -
lin- ili a.s ii (n| i . . ii)
a,sa
s,szz,zz
s,sza,+a
-
.z
c,sss.a
c,ss.sz

UUcU...U
66
ai s in (uiv v iiia
(ii ` -)
1, in (uiv
lli i
-- ;-i;i,i; - i
ii

niri in ln-
| n| l-i ilnn|
lnilni -i
-i| li lrnii ii
-ili rn i|
i ,-
ln i n i ~i rn i r|
ni
-

zs,ssa,ss zs,ssa,ss
1+,szs,az
ssz,sz
zss,zs
zzs,z+
+,sss,aa
z,as
z+a,s+
zzs,aa

zz,a/c.sr zz,a/c.sr
c,s/r.rs
rrs.ra
saz.
zzc.sc
r,/ca.z
a.sr
sza./z
rs.sa
i 1 sa,zzs,a1 +s,sss,s1
z, iiia
i l iii
i l iii
(-~i |.|.i i |.|.)
s--||i l iii
(-~i |.|.i i |.|.)
- i| iliilin ii i ii r n iii
(|-i l - ~i i |.|.i i |.|.)
-i| iliilin ii iii rn iii
li-i| iiii rn iii
li-i| iiii rn iii
il--| rn iii
z,aa
zsz,as
1a,zas,1+
s,ass,1a
s,sas,as
a1s,aa
s1,1a
-
./
,sc./
a,ras./a
,.r/
,zc.rs
sr.aa
rz.sz
s.za
i z zz,z+s,s+ 1z,+s1,sz
i 1 + z zz,sza,1s sa,1s1,+a
lli ~iinii - ii ii inini z/,/.s ii (n| i z,zs/.cc ii ) iil- r|
UUcU...U
67
ai, i a1 ai, za11 +i ai-u li + ni-i-tila ni +i zi t
ai s(v) (-i ii i laaii l(ii ii
(ii ` -)
li za1a-za11 zaas-za1a
i) -i ii i
ii) l-ii lii i
+z,aza,as
z1,s1+,ss
zc,ra.rr
s.szc.ss
i s+,1az,ss cc,+zz.s
ai s(+i) in ii i
(ii ` -)
i) i (in | n; -in| sr. ii )
(n| i ssa.sr ii )
a,s1z,sa s,sr/.a
i a,s1z,sa a,ssz,a1
ai s(i) - i
(ii ` -)
i) -ii; l-l-ii | l| ii
ii) l-iln in i
() i liin
(i)
iii) -ili i ir i| nii i l l n lnin i
iv) -ili i
v) iiii i
vi) li| -i ln lrn lli i
i (n| i a.az ii )
z,as
1s1,sz
a,as
a,sz
s1s,++
z,sa
z+s,ss
.z
zas.r
z.rc
.ar
c./r
z.ra
zc.c
i 1,asa,az 1,1a+,az
ai s (i ) lai(aiiia +i lq,(+ai)
(ii ` -)
i) ln- liii| i (i-i| )
ii) ili liii| i (i-i|)
+as,1s
s1s,as
ss.as
,r//.sr
lq,(+ai) (s1a,sz) (sss,zz)
UUcU...U
68
ai z +aili +i (-i v a+ lnv iiia
(ii ` -)
. n -|
z. i
s. il lli i li i lli - | i ii
. ill-i lrnii
r. -iiii ii lin
za,1zs,zs
s,1s
1,+sa,ss
s,s1a,zs
-
/,sas.cs
a.z
,scr.zr
,c/.cs
zc.rz
i zs,+z+,+a za,zzs,a+
ai s iail+ liiv
(ii ` -)
. liii
z. ll-i
s. i-il i i-ln nlnllii
. lii (ii|)
r. n -- |-i |l--
c. -i| ~ii ()
1a,sa
ssa,ss
sa,ss
1a,az
1z,1s
saa,zs
s.cs
s/./s
s.zs
sa.zs
/.c
a.s
i 1,1za,as 1,a1s,++
UUcU...U
69
ai s - v iiia
(ii ` -)
. li| liini i s,s1 z./s
z. ii 1,zaa,s+ ,s.as
s. li - lnlln z1+,+s /c./s
. i ii ---n s1z,sa rr./s
r. ---n a1,ss rz.sa
c. n ii i i-n| zz,za //.za
/. -i n i i-n| 1za,sz zr.s
s. -- - i ss,zs s.cs
s. lii (n ii|) +a,11 .aa
a. z1,as z.rs
. lni i zas,s1 /s.zs
z. ii|ii i ill- i~ z,sa .ra
i a,+a a.a
i z,1a s,aa z.a .aa
s. ln-ir| ii i~ a,aa s.aa
. |-i s,sa c.ss
r. lin ii li - a.ac
c. liii -i - az,ss .rs
li - a,1a as,as .rs
/. i l--, iii ni 1z1,zs c.r
s. -- i 1za,ss za/.z
s. lnn ii +zs,za rc.s
za. lli i ii aa,zs zc.sc
z. i- - iiln l-lni z,za c.cc
zz. lli i +z+,sz ssa.sc
zs. ii li ni i~ l sa,1z ssz.sr
z. -ls ill-i ii ~i rn li i~ 1,1s z.zs
zr. lnl-n i-il -iil- li ni i z+z,sz s.az
zc. in li ~i l iii ss,ss .s
z/. -- iin - ii ni iini ~i s,z1 r./s
zs. i-lni | l| r; ril +,s+ s.zs
zs. -- iin - ii ni i-ilnn i- ~i - .c
sa. l|- - +s,zs z.rs
s. niri ,ii n l|- - rn iii ss,ss
sz. i ss,aa .r
ss. | i i l iii - /.zs
s. -- iin - ii ni i vciiv -ii z,ss
sr. -- iin - ii ni i iciiv -ii 1as,ss s.z
sc. i lni -i rn iii z,zs a.r
s/. li ii ili rn iii a,zs a.as
i +,s1s,zs +,sa+,zz
UUcU...U
70
ai sv i i l-ii -ii
(ii ` -)
v) ( -ii
. l n ~i i 1s,sz z/.s
z. |.i.. (-ls i ll-i) l lli
i l n ~i i
i-i i iin i in rini
1zz,z+
s1,az s1,az
sz./
sc.s/ sc.s/
s. i| ni-| i (i ) i
i-i iin i in i rini
sa+,sz
zss,zs a1s,aa
//r.sz
s/a.ar ar.//
. -- ~i i (i| ) - z.sr
i (v) as+,zz saz,sz
+i) l-ii -ii
. ii 1z,sa r.//
z. ni-| -|i ii +a,++ s/.s
s. |.i.. (-ls i ll-i) ~i rn
iin i i i li ni ni-| i~
i-i iin i ,ii ni-| i i li-in
1za,aa
1za,aa -
rr.aa
rr.aa
i (+i) sa,s+ sa,ss
i (v) + (+i) +ss,z1 sss,1a
UUcU...U
71
ai 1a ui ii +liu aiia
(ii ` -)
+,, li za1a - za11 zaas - za1a
i+na l+na i+na l+na
. n i -| - - .r/
z. -~ ri liii az,1s a,as ./s a.as
s. -i| ~ii a,zz -
. l-i| ii a,za -
r. lii (ii|) - - z.c
c. ---n ii a,as +,az s.sz a.
/. lnn ii - - /.c .
s. ll-| i - - a.z/
s. -i i i-n| a,+s -
a. -|i ii a,1+ - a.a
. |-i ii - - a.zr
z. -ii i inni a,s+ a,1s r.s/ a.zs
s. lli i - 1,aa .zs
. -i ii i z+,+s 1,ss s.s za.r
r. i 1,ss az,s+ z.z /.zs
c. s--| |i - - a./
/. ii i - a,1s .rs
s. -- i a,sa - a.ss
s. iiln niri i ii ili -i - - a.zr
za. iiln i iciiv -ii - - s.ca
z. iiln i vciiv -ii - - zr.r
i s1,as +s,1a ss,za 1as,ss
lan aia,(ai) 1s,ss (sa,ss)
UUcU...U
72
ai - VI +i -ii - IV
una- i v +ai +i iai- i li
(ii ` -)
I. i+i li
|i . ass
n lnli a1 aa za11
lnli -ir i
II. i + (iia ci i
il lnlii ln-
i i
i ln- i;- (l|) li
i i
III. lalii + ti v lui +i lilu
+n (uiv
a1ssz,sz
+n l-l-ii
a1ssz,sz
llii in -i |
ass.s
ilin ~i
sra/.sz
l
(ilin liii)
zz.sc
i-ilnn ni (i,)
c/.zz
ilin ~i
s.ss
llii i in l l-l-ii
/sc.ss
li
r.sz
l-iiii| i
zz.s
l i l-l-ii
zss/.z/

UUcU...U
73
IV. +ai +i lai(a
iii
cs/.sc (#)
ii,(ril)
asz.sa
i ln i ( ` )
zz.s

rss.c
in ii,(ril)
sscs.s
iiii %
a.aa%
(#) iil- r| r
) i ii i
|) i
|) iii l ; iin - i | n r|
|) ; iin - i i il-- llii rn iii
;) liii| i - l,,(ri)
sc/.sa
aca.s/
css.rc
s.s
(ra.sz)
+sa+,aa
V. +ai + uia a -i(i,ii + aia
- i i
-i li ;|l| i-i| i i i
- i i
-i li lii i n|| i
- i i
-i li ii i-i | iln lrn l-ii li i li

ra, ra, ra, ra,
(l +i--ii) (v, yiii) (, ai) (v, +, iii)
| l -rii (l-i) li (lii) iri li
UUcU...U
74
ai - 11 at-i niiailui v nii lc-lii za1a-11
I. nii ailu
1, l-ii lii uii +a + iii
1,1 l-ii li vlutil+ niu iiii + iia nii +i il-u-iii uii iai-
ui i+i lqi-ui + iii ui l+ iu t +
z, n ll-i
z,1 -ila (ni ti-) ltu -ii n ll-ii +i -ni vlutilt+ niu l+i
iui t+
i ut +i l-nliu lu a - t i +i ici+ li ti i lioia
+ liu iail+ i + +i a -ii t +
z,z , 1aaa,- +a niu ini -+ u +i i + i a lni iui t +
z,a +--c ti + ii i-i a ii( l+i ic +i niu +i ti +i
niu + ii i a liu (iu) l+i iui t+ -u, ic + liti i
+liu ti +i -iu -ii ati t, l+ +i -i -l-i + a
lltau ati l+i iui t+
a, a- ti v lziiia
v, n l-l-i
a,1 n l-l-ii +i a-ti +ai lilaa, 1sss (iiziiliu) +i iii zas (z)
(+i) + ii lou i liai +i ai-XIV a lltu qlu i ( + ai
cc nia ai l+i iui t+ -u, la-alnliu l-l-i +i a-ti +
iaa l-nliu ( ti t+ ( +i laiii +ia ii i+lnu l-l-i
+i ilui +i li + iii l+i i t
v) i-ul+ l-iia s,aa%
+i) iuia+na aziiai, iuia+na +i z,az%
i) , 1aaa,- li+ v , saaa,- 1aa%
u+ a- +i -+ l-l-ii
i) aa-il+u ll-i +i -iii ilui +i iaui + iii ti l(ai+
a1,aa,zaaa a-ti -iilu l+i iui t+
a,z cci ni +i li +i ail-u u+ cci-ila +i ll-ii +i +cc iiu a in
l(i iui t+
+i, n l-l-i
a,a u+ai+i ia+ii i l-iil+i iali + a + lnv l+ i +i i
i aiai iui t i i i +i li a lziiliu l+i iui t +
UUcU...U
75
a,+ i c + li ti l+ +i li ti + i i ii +i
li a lzii liu l+i iui t + +ttin, s,aa,aaa,- +i n-n
niuin i c +i + li ti l+ ia in i a ti i u lzii liu
+ lni iui t +
+, lazi
+,1 l+ v lazii ii v+ in li+ +i li + lnv l+ iain lazii +i
(iiili lazii + a atiu + lni iui t +
+,z -+iln+ aqu lazii +i si+ liti +i iu niu laiilu l+ a-i
in zii aqu lazii + a- ti + lnv iiia i+ lazi + iii l+i
iui t+
+,a qu lazii +i a--laiii niu + iii ii +ii-a-, i -ii +a ti,
l+i iui t+
s, aini (--ci)
s,1 iaiai (ci ) uii lul+u +n-, a(i uii nia-iai +i a(i uii -
-ii (iii + lua ci+ a- +i ia laiii iu iii l+i iui t+
ini ii a +u a(i + -ii +i laiii il-i+ -ii i i a ii(i
iali + i a i + u a -ii a +i+i +i iul+ iai + a- +i
ici + l+i iui t+
s, l-iil+i aiia v l+i
s,1 ilai aiia v l+i +liu lullii a tv i +i +q i + i
a l(inii iui t+
z, l(zii a(i i-ui
z,1 -ii in l-l-i i in (uii +i i a llaa + lnu ( i-ulu
+ l(i iui t i i-ui + -u +i ni-i-tila ni a l(inii iui t+
s, i
s,1 ilai v iazii iv
s,1,1 l(ii + izi i i v i + i(ia-(ia, laa v+azu zi-+ +i
a+i l+i i ti, + iii it+i +i (ia +i ii i-u zi-+
+i l-ii i + u a lu +i nli + u+ai+i a-i+a + iii (
luziu +ic + lau u (+i + a- + iii ) ai + -i a lni
iui t+
s,1,z v+azu zi-+ +i si+ (i ii + ai +i l-ii i a (i ii
tu aii l+ni +i 1aa% a- + a ai lni iui t +
s,1,a l-ii i + (iia aii l+ni +i lulu i +i 1aa% ai +
a lni iui t +
UUcU...U
76
s,z liaii +i l+i-a
s,z,1 o+ ii izi- ii +ii(zi ii i + i(ia-(ia l+ -uu
iii a- +i l-ii i + (iia t lu + luziu + iii ii iui
t, i i + a it+i + lnv +iil-u liaii +i l+lnu (+lc)
l+i iui t +
s,z,z +n- +i l++i i-u i +i ilu i + 1aa% a- ai + -i
a lni iui t+
s,z,a a- lq, lul+u i li+ (ii i liai +iai - lli a(i +i
1aa% a- ai + -i a u+ lni iui t + -t -i a aia lni
iui t+ -u, + +-ii l(i a a-lq +i iiia l+i ii u+
l-ii i + (iia l(i a iu + lni ii +
s,a -
s,a,1 lazii i-u tiaini ni-iizi-i u-ii i+i +i iui t + -iuia il-u
+i li+i lalzu ti iui t +
s, lai(aiiia +i
s,1 v+a zu zi -+ in ilai v iazii +i , laa +i +i lu laii lu u + ai
t , l+ +i niu i a - + luziu + u+ai+i a aia + iii l+lnu
l+i iui t uii +i +i niu +i lai(aiiia +i + utu aiu l+i iui t +
s,z ti it+ i-u i ii + ii ilcu +i + iii +i i-i
l+i iui t , l+-u l+i zi -+ -ii u+ u ati t i t , ti t niu +i ti
lai(aiiia +i + utu lau l+i iui t+ -u, la aiani a -aua lil(u
ziui it+i ii talu +u +i t, vi lil(u ziui + iii i +i
iai +i t+
1a, +aii ni-i
1a,1 i + -u a iul+ a -i +a + iii +a ii ltu ni-i t u iiia l+i iui t
i n iiaia+ -1s ( zii liu) + a ni-i-v tila n i a -iilu l+i i t +
+ttin, +i i clc, a+ia ci cc (-ii an, a+ia (ia -i)
ii ni ci-t-+iai ilni + lnv vnii ii laiilu l+ (i +
ili+ ilaa + -iuia +i ni-i v tila nii + utu -iilu l+i iui t+
1a,z ai+i +i ail-u +liu ni-i (ls+ i la-ii) ilulu l+ +i
iilu i + a lni i t+ a1,aa,zaas u+ l+ ut +
+i s ii a +cc iiu a in i i + +i( tv +i a1,aa,za1a u+
+i+-+i+ ili+ l+ui a +cc iiu a ini ii+
11, ui li
11,1 ui ii -+l-iu 1a,aaa,- +a l+i ii i a -t i +i si +, i
iul+ iii t , +i lti+ in i + -+l-iu n ii ziiii + -u u l+i i t +
UUcU...U
77
II. niii lc-lii
-ila
1, (+) i la+ i ni ti v iu + ai (lc +l ) v lli iiia +ia a
1szs +i iii z + uu -iiu +i ii 11s,ss v+ -ila iii +iniai
i 1a,zs v+ -ila ziii -ia + lnv, i u-+inia vvvn + lnv lu +i
ii, l(ai+ aa,a+,1szs +i c ai + ai a+ia + aia tui-ulu +
(i i+ -u, -ii u+ nii +i ii +u -ila +i +ini a+ia + aia
tui-ulu ati l+i i +i t+ +i a nii +i ii a+ia lnlac
+ i a i i +-- +i + u+ l+il-u ati l+i i +i t i +i
lu t+ a+ia + aia a +ini +a + lnv nii +i + iilu
l+i i t + +i a lu t + +u -ila a z1,as v+ -ila 1ssa-s1
a ii liu n + aiia v l+i +-( +i (i t+ nl+a -ii u+ +ini
+i tui-ui ati ti +i t+ +u tui-ui + lnv i-u ilzi +i iai ni
a + ni i t+
(++) +ai ii i 1szs-zs a ii a cialzi + laaii + lnv 1aa,aa v+ -ila
l+ti +i lu +i i nl+a -ii u+ a+ia + aia +ini lail(u ati
ti +i t+ + nii i lou ti +i t i l+ a+ia +i l-i nii
i + uu i i t, u a+ia + aia +ini +a + lnv nii +i
+ iilu l+i i t+ +i a lu t+ +u -ila + +in +i lai(a
ati tia + +ii n, i,i,i,i,v, ii + i a z,+a v+ -ila i n,
va,ci,i,, ii + i a s,+z v+ -ila + +in +i tui-ui ati ti +i t+
tui-ui +liu i-u ilzi +i iai ni a + ni i t+
(+++) ii a cialzi + laaii + lnv l+ti +i i-u 1,sa v+ -ila a+ia +
ila- +liu (ui ui ati +ii i t+ a+ia + aia +ini +a tu
nii +i + l+i i t i l+ a+ia +i l-i nii i +
uu i i t, u a+ia + aia +ini +a + lnv nii +i +
iilu l+i i t+
-ia
z, i+ni i (i a, l+i +n ni+ +azi s,1z nii (ui i s,1z nii
) i s,sz nii (ui i s,sz nii ) t, +ai ii n +i -ila
iii -iai +i laaii l+i i t i + lnv a-ti +i iai -ia +i (
+i i t +
a, ili+i(, ai a-+ v +in+iui a ii( v nci + aiailu+ a- +i laiii a
tia + +ii ii( v nci + a- +i -ia +i niu a l(iniu tv a-ti +i iai
-ia +i ( +i i t +
UUcU...U
78
+, i+la+ (il- la+ lnv a ui iiia l+i i t ii a ti -t +ii + -i a
i+i l+i i t
(ii ` -)
in i
za1a-za11
ui i
zaas-za1a
i) lll-| - i nrn |
niri i
ii) ii i i-i | i| l i
ii li ni ii n|| i
iii) | | i lli niri ;-il i i
,ii | n; ni-|.
iv) li,| i| i
v) || iliili i ln l| -in
vi) -ii,ilnnii ,ii | l n
i
vii) lnn iln l, nii lnn i ,ii
l n i
viii) i | il lli i n||, nii, i|
+ii ci, a +i a - i| il lli i i
| ,ii l n i nni ii
+ii ci i i - ssr.z/ ~iii
-i i l i li r | |
;i lni li r i sc.sz ii -i
in iv || iilii, ;
l~| -i | i li r |
s+,sa
s1a,zz
1a1sa,sa
1++s,sa
1szs,sz
1aas,1z
1+s,ss
ass,zz
c.cs
sa.zz
/rr.sz
ssc.rs
cra.ss
sss./r
s.cr
ssr.z/
s, iu ni l+il-u,ilu l+ ia
+ lnv zii + o+,+ii(zii +i i++lnu
ilzi uii l+i iiia ati l+i i+
1aa,as .s
s, i) lnia i i i
) lni
| ) i
ii) a+ iiai i
ss,z+
z,sa sa,s+
sa,sa
c.rs
/./r /s.zs
s.sz
z, ilai, aiia v l+i ziiii,a
iu ll-ii ziilan t, i
zs,zs c.rz
UUcU...U
79
(ii ` -)
in i
za1a-za11
ui i
zaas-za1a
s, +i la(zi+ ltu i+iln+ la(zi+i + il~la+ +i
li
i) n i i-i
ii) il lli - | i ii
iii) -i| rn ii
ill- - | -ni - | ii| ll-i
liii nn iil- r| r il i -inn
-~ liii nn i r| ii|

sz,as
s,1s
z+,1z 1+1,z+

sz.zc
s.s
c/.as zrs.cs
s, i + (iia l(zii llaa i-u (a+( iii )
(ia +i ii tu zi-+
s1s,as ca.ss
1a, i + (iia l(zii a(i a l liu,iu a i
l+i i (a+( iii )
i) ;|l|i~
ii) -

111,z1
1zz,z1
ssz.ss
ra.aa
+n zs+,+z asz.ss
. iiluu iaiai +i +iau (iiv iii )
i) l-ii ii - rn i, i- i - i-
ii) |nn i-i
1z,s1
zi-
ss.a
i
+n 1z,s1 ss.a
1z, -iiu + ati--i-ii i-u s,11,sa + +iaai nit + ai i +lai iazii v ilu
iv (ia +ui t, a+ lnv +-l+ v lai(a +i (il-i+ i lua (iai ti) +i
aii-a+ li ( ai iz+ ati t + ii ti ii ll-i-a li aii a ial i +i
lliui + n -t ll-i-a a ti a ~ ii+q ati l+i i +ui+ nu a+i laii-a+
li ui +ai -i ati t+
1a, t +ai n +i lnliu ai + iii n i uii i(iai +i iila+i+i liai
(iiu +ivvn, +ivi, ivi, v ivi) tu iazii i luu ilai iv, l+
lnv iil+ a+i ziii ti tuii l+ i, (ia + ti t+ a +ii + lnv i a
tv i +i +ai +i +ialc-c +lc ailu (iiu luziu lu ii it+ i-u
ilzi a i -ii +a ti) + iii 1a,a1s,az nii i++ilnu l+i i t i
ii t i a ziilan l+i i t+
1+, iazii iv ati +ia tu a vaivvn ni sz,aa nii ltu ii
i-u i+
UUcU...U
80
1s, vvi +ii ilu ii + lnv -iuia iaui i+i +i i ii +i ziui
+ ai l+i iui t i +i a +i ilzi ++ii ati t +
1s, ( ai+i, ain v aila vci nac lilaa zaas a l-iiliu v l+i
ni v aa nai +i lu(a ati l+i i t l+i +ai + i ++ii ti+
1z, +ai + i +i +lu i +ai +i l-l-ii + +i +i li +u tv nii
aia+-zs + ai a1,a,za11 +i iiliu l-l-ii +i ilu + +ii iic +i +i +u
ati t+
1s, lalzuui + nu, l+ +ii,tiln lu + lnv it+i zi-+ +i il-u tia
l(zii iazii +ii i +i i+u l+i iui t+
1s, +-(i -i + +i a a l(ai+ zs lu-+, zaa1 +i liai + ii +s lnlii
+i iai laai +i ailiu l+i t+ +aii laa,ilzivzia a +u liai +i aiui
(u tv +in+iui aiaai -iin a v+ il+i (i l+i t+ aiaai -iin
+ i(zii + aina a a1 in, zaaa a1 ai, zaas u+ +i a+ia lnlii iu
+ +i +ciui +i aaa,1s nii (ui i zsa,zz nii ) +i ilzi +i aiaai
-iin + lua lai ia u+ ++i a n lai(i ai + a ii i t a1 ai,
zaas + ziu vi +cilui i ai ilzii +i ziiliu lli+,-iinia lai + ai
l+i i t+ +ttin, +ai + ni +i +i -ii ati ti t +il+ lul+u +, l(
u t ui, +i +aili ni ii+
UUcU...U
81
za, iiiai +i li
(ii ` -)
li iia
tu
iiia
zii v
(ti(
+i tu
iiia
it+i
ii n
vn,i,
+i iiia
ini i
(i
tu iiia
l(i
zii ilzi
tu iiia
- +
i l+
l(i
ai tu
iiia
ilu+uii
,-
o+(ii
+i l(i
la tu
iiia
i+lal+,
liu tila
tu iiia
a.a.zaa i iii +,z+
(r./z)
sa+,+s
(sc.ac)
z,sz
(/s.ss)
s,a+
(/.r)
s,z1
(c.cz)
1s+,+s
(s.s)
1sz,as
(sz.as)
a,za
(rcc.c)
i i ii li
ni iii
z,aa
(./)
ss,ss
(.s)
ss,ss
(i)
zi-
(/.zs)
a,zs
(a.as)
z,zs
(a.r)
zi-
(i)
zi-
(i)
i-i i ii rn
iii
+,z+
(r./z)
s,zs
(z.a)
zi-
(/.c)
a,ss
(c.cs)
a,1s
(i)
a,1s
(i)
a,1s
(i)
zi-
(i)
i-i i ii
rn iii
l lnlnn li
ni
zi-
(i)
1s,ss
(/ss./c)
zi-
(i)
zi-
(i)
zi-
(i)
zi-
(i)
zi-
(i)
a,za
(rcs.)
s.s.za i iil-in
n ii
z,aa
(./)
sss,ss
(ra.r)
ss,s1
(/.sz)
z,+s
(s.a)
z,az
(c./)
1sz,as
(s.s)
1s1,s+
(sz.as)
zi-
(s.za)
i- - l n i n| i , r|
z1, +liu ici + +i a (iiiii (vv-1s)
i) l lin il-i ii i-i li ni i ii ii | | l-n r
+i +i lu +liu ilci + aia
-i i il- | . i. lr (sa.as.zaa n)
| ..iii
| ..-rii
| . -i (zc.ar.zaa )
| . |. lr
| . -s ii (.ac.zaa )
| |. -i -i (s.a.za )
| -.i. |i (zr.a.za )
| |. ini (za.a.za )
+i +i lu +liu ici +i aia
n n- | - --l ;llln ~-- (i;lli) ll--
UUcU...U
82
ii) +ai v +liu ilci + +i l+ +i -i(a la-au t
(ii ` -)
+a
,
+i -i(a +i lu ai +i+i +ila+ i ai ,
za1a-11 zaas-1a za1a-11 zaas-1a
) i| ill- sz,sz s.ca - / -ili i inni
iii
|) -i| lrnii z+,1z c/.as - r, /, s s
|) - i~ zi- a.az - s i iii
|) li| lnlln
i ;-il l iln
- zi- /.ar s i iii (ii)

zz, vv-1s +aii ni-i iai (ailiu) + -uu (iiiii
v il-iiliu ltu-ni-i iai
(ia | | i n ri i | l-iln - ri -ili i , lri
r i i li n n i | ri, ,ii i l n - i
i rn r li, n, n, lin- a.aa ii |
syi a+(i+i | | i n ri i | l-iln - ri -ili i lri
ln s;| i ,n s;| i li ri| ln s;| l |
lin- |-i saa l r nii ,n s;| rn za l r| i -
i sa li n s;| n|i r|
-illali | ,ii - n, -rni; i-i -rni; n z% i ii il
lli i - li ini r|
i lal-i iu
ll+-i ni-i
| -ni - ii iivaci ii nnn zaa, a ln i |
ln ili - i
i lal-i iu
lii ni-i
nr ir - lii i il-i ri r -ili i |
+aii li ni-i
iai
| | i n r in -ili,-n -ili i -iiliili
i llrn -i - ill-i i ii lnli n -il inni|
(ii +inia i +i r ii n i i sa ii | i i| i-n| - |
i lal-i ti i ll-i i-n| - |
vn,ci,i,,vn,vn,ci,i, nii -ili n |ii ii niii rn i ii
i - vncii| niii rn i| vnvncii (/aa la-|a,
iin - r| i|) ii i s;| ii rini (vnciv) ,ii li ni r|
UUcU...U
83
+i il-iiliu ni-i (ui + uaia a- +i ia
(ii ` -)
1 z a + s s z s
+, li (ia syi
a+(i-
+i
ilal-i
+ iu
ll+-i
ltu-ni-i
ilal-i
+ iu
lii
(cnac)
ltu-ni-i
v
+iv
i-
lal-i
ti
(ii
+inia
i
+i
vncii,
vnvn
cii
a,a,zaa i
iil-in |.|.i i
|.|. (-ini in)
c,ss/.sc a,ras./a .ss sz.s/ s.ss sr.sz /.s/ sas.s
(/,/cs.s) (s,czs.zs) (czs./) (.s) (rs.) (s.r) (s.s) (s.c/)
a.a.zaa/ i
iil-in |.|.i.
|.|. i ,r
.r sa.c
(.ra) (sa.c)
i i inn scs.sa s//.s s.sa ./r .sa
(as./) (/ss.sa) (c.s/) (a.c) (.z/)
z i inn rsc.a/ /s.sc s./z .a s.cz z./c a.s/ s.zs
(rcs.cs) (c/.s) (r.sz) (a.sz) (.aa) (a./) (a.r) (z.s)
s li ni ii

i-nl ii-i,(ii) rac.r (zz/.s/) (zz./s) (a.) .s/ a.s (a.zc) (/.s)
(,zsz./r) (/c.r) (s.zs) (s.sc) (c.ss) (s.sr) (s.ss) (.as)
r i|n iii cr.s
(/s./)
c -in| ril,(ril)
(za.r) (ss./z)
/ lninni (s.sz)
(r.c/)
s ls| i inn

s inni li ni ii (,csa.rr) (,zz.ra) (z./) (r.sa) (sc./z) (c.as) (.r) (.rs)
(rac.rz) (,sca.a/) (s/.as) (s.rz) (z./) (c.) (.sr) (zc.zc)
s.as.za n
|.|.i i |.|.
(-ini in)
s,sss,+a 1a,zas,1a +1a,sa 1zs,sa 1zz,zs as,zs 1a,++ 1a+,zs
(c,ss/.sc) (a,ras./a) (.ss) (sz.s/) (s.ss) (sr.sz) (/.s/) (sas.s)
***ln| iii
|.|.i. i |.|.
-iniin (,r)
c.a zz.r/
(.ra) (s.sz)
|.|.i i |.|.
-iniin (,r)
.ra sa.cr
(s.a) (c.sa)
a,a,zaa/ i
iil-in |.|.i. i
|.|. in
- - - - - - z,s1 1sa,zz
UUcU...U
84
1 z a + s s z s
+, li (ia syi
a+(i-
+i
ilal-i
+ iu
ll+-i
ltu-ni-i
ilal-i
+ iu
lii
(cnac)
ltu-ni-i
v
+iv
i-
lal-i
ti
(ii
+inia
i
+i
vncii,
vnvn
cii
s.as.za i
iil-in i
ii,(ii-i) -ii
rac.r zz/.s/ zz./s a. .s/ a.s a.zc /.s
s.as.zaa i
iil-in i
ii,(ii-i) -ii
srr.ss ,s/r.ss a.cz a./ s.c a.s/ c.rc
s.as.zaas i
iil-in i
ii,(ii-i) -ii
s./s z/.c r.rs a.zs sz.cs a. a.a s.//
s.as.zaas i
iil-in i
ii,(ii-i) -ii
/s.zc sc/.r/ s./s a.z .zz a.as s.zz /s.ss
s.as.za i
iil-in i
ii,(ii-i) -ii
.//
s.as.zaa i
iil-in i
ii,(ii-i) -ii
s.a
s.as.zaas i
iil-in i
ii,(ii-i) -ii
a.r
s.as.zaas i
iil-in i
ii,(ii-i) -ii
ss.s
UUcU...U
85
i iai l-l-ii v (uii + l+u a- +i ia
| n n;-| (i lli ) -in i ni rn in,in lli -ri
ii r| i;| (iin| | |-i ln-), l l ii ,ii li li ni r, ,ii
-i i -n ii l-l-ii i ln -~ iiiln r| zaa ii i -
| lil- i- (li -i ii) ii - li li ni r|
i lli | l-l-ii ln -~ i i ni iliilin ii i llili
(i--) l-n r
(ii ` -)
a1,aa,za11
+i iiliu
a1,aa,za1a
+i iiliu
a1,aa,zaas
+i iiliu
a1,aa,zaas
+i iiliu
. iai l-l-ii +i v,i, (il--i+) s,szz,ss a,+za,za a,zaz,sz a,az1,ss
z. liln l-l-ii (i,) -ilin
lnii
/.s/ sss.z zss.r zss.ar
s. ii i inni (,csc.a) (rac.zz) (r.c) (/.rs)
. li ni ii z,aar.aa z,sar.aa rr.s ra./
r. i-nl ii-i,(ii) .// (s.a) a.r ss.s
c. iai l-l-ii +i v,i, (aia) s,+zs,as s,szz,ss a,+za,za a,zaz,sz
/. |.|.i i |.|. (-i) c,csr.a c,ss/.sc /,/cs.s z,css.ac
i , ni* (l-l-ii ) n - -|n zsz,as 1,as+,z1 +,zss,z1 (sss,s1)
* l n lii lnii li in | i i zaz ii
i lli - ii | -iii r|
i i iliilin ii inii rn ii | -ii r| | n; r|
i -illali
(ii ` -)
l-iiliu ltu-ni-i +iui +i lznii a1,aa,za11 +i iiliu
liilin lrnii, i in rini in r| r, i n-i -~ +,zas,ss
liilin lrnii, i in ii in rini in r, i
n-i -~ aa,s1a,z1
tni +i a-i+a l+v ia + +ii l-iiliu ltu-ni-i +iui as,11z,as
a1,aa,za11 +i iiliu
tni +i a-i+a l+ ia + +ii a1,aa,za11 +i iiliu
iai l-l-ii +i v,i,
aa,s1a,z1
una a ziq (ui l(iii +,zas,ss
r| i | s.as.za i iil-in il lli i-nl -~i iiiln ni i i ii r| ;
iir|ii i ii illli - i l n, | ii i ii ril ii - liii ni r|
il lli i s- iln rn liilin lrnii ini | in ni| -n| il - l| i| - il lli -
;-i; i - (-i| nr) ;|i ,ii iilin i i i l ; ii - in l-l-ii ri |
i i il lli i si, liilin lrnii ini n rini in r|
UUcU...U
86
; s -i, za i -in i rn ii ril i - -i
(ii ` -)
z s r c / s
+, li (ia syi
a+(i+i
ilal-i
+ iu
ll+-i
ltu-ni-i
ilal-i
+ iu
lii
(cnac)
ltu-ni-i
v+iv ilal-i
ti
(ii
+inia
i
+i
***
vncii,
vnvn
cii
***
. i i inn scs.sa s//.s s.sa ./r .sa
(as./) (/ss.sa) (c.s/) (a.c) (.z/)
z. i i| inn rsc.a/ /s.sc s./z .a s.cz z./c a.s/ s.zs
(rcs.cs) (c/.s) (r.sz) (a.sz) (.aa) (a./) (a.r) (z.s)
s. i-nl
ii-i,(ii)
s.// (zz/.s/) (zz./s) (a.) .s/ a.s (a.zc) (/.s)
(,ss./) (/c.r) (s.zs) (s.sc) (c.ss) (s.sr) (s.ss) (.as)
. ls| i inn

r. liln iii cr.s
(/s./)
c. -in|
ril,(rili)

(za.r) (ss./z)
/. ii l-l-ii
-ilin lnii
(sr.ss)
(as.ss)
i s11,ss 1+++,sa 11,s+ 1z,sa z+,ss s,+z z,+1 (sa,zs)
(czr.za) (zzs.r) (r.ar) (rz.r) (/.ss) (sz.ss) (r.) (ssr.ss)
***-uui iiia
a.a.zaa/ i
iil-in |.|.i
|.|. i (,r)
.ra sa.c
- - - - - - (1,sa) (aa,s+)
i s11,ss 1+++,sa 11,s+ 1z,sa z+,ss s,+z a,s1 (sa,1+)
(czr.za) (zzs.r) (r.ar) (rz.r) (/.ss) (sz.ss) (c.c) (zc.rz)
iai l-l-ii
iul+
luni-i
saa,ss - - - - - - -
(scr.s)
UUcU...U
87
v l-iiliu zi(ia iai (a1,a1,zaaz -iii)
ilal-i + ziu zia ltu-ni-i | ,ii ii -ili rn - n -rni; i-i
z% i ii li ini|
ilal-i + ziu ll+-i
ltu-ni-i
| ,ii ii -ili rn - n -rni; i-i
.s% i ii li ini|
i a1 ai za11 +i ai-u i + ni-i v tila ni a iu
1 z
+a li ilal-i + ziu zia
ltu-ni-i
ilal-i + ziu ll+-i
ltu-ni-i
| i (ii -) -
iiln
rzs.zc r.rr
v +iail++ iaaia
-in| (ln i) .... s.sa% ln i
z -- .... ;l -i i; -i-il-| (sssc) -ili; ~-|--
s i| (ln i) .... i -ili rn i| i ni l a% - -
(-i ), a.a% a.ra% in + li
-l ;i (ll-i-|ln) .... i- r i rn z% i in s%
r ii l-l-ii lnii |
-ilin
.... s s.r% ln i
c -i-|ln , l-ni, iln ii i iin - iil- , |-il -~i - ii| nl,
i i li ni|
UUcU...U
88
za, vv-z + -uu (iiiii
(ii -)
in i za1a-za11 ui i zaas-za1a
i) l l i i- i li i- -
-ii ni r|
s+1az,ss ca//.rs
ii) ln | lnli n nn -i inn -i
-|n ii (-|n ii- i i-i)
z+sz1+,aa /zs/z.sc
iii) in ln- 1asss,as cs/r.rs
iv) -i i rn niri l- i| ili 1saas,1s cza.c
v) -i i rn niri i l- i| ili z1zaz,1z sr.z
z+, vv zz + -uu (iiiii
i +i +i lti+
i + iiui ni-i i + i ni-i + -u iilu + +i laiii + (i v
laai, l una +i luli lilalau ii u(a-u lilalau l+i i t, +
i(a tu laiilu l+i i t+ aui-u + a laiii --a iiilu + l-l-ii
+i lilu u+ aia lni i t ti u+ t u+u lalzuui t l+ -il a l-l-ii
+i tiln + lni ii+ lan iilu +, l+i lti+ a1 ai, za11 +i iiliu +
lnv l+i i t, +i li la-au t -
(ii -)
a1,aa,za11 +i
iiliu
a1,aa,za1a +i
iiliu -
iilu + (ui
i-nl () i -~ri | i n ss1,s1 sr.zs
ss,+a r/./s
i (v) s+s,a+ sza,az
iilu + l-l-ii
ii li ~i rn iii zz,zz rs./
i rn iii ss,ss ss.ac
1ss,ss sz./s
i (+i) aa1,1z sz+,ss
ziq iilu + (ui i (v-+i) s+z,zz a+s,11
# zaa - |--- (llin)
UUcU...U
89
zs, vv-zs + -uu (iiiii
-i l-l-ii - +--c ic
i) ic + liti l+ +i liti + i i ii +i li a za%
lui +i ( lziiliu l+i iui t i s nii u+ +i n-n niuin
ic +i liti l+ ia in i a ti 1aa% lziiliu + lni iui t+
ii) tu lziiia l+i - lziq l+i
(ii -)
za1a-11 zaas-1a
i) nln ili (il-i) asa,as z/c.sr
ii) nln ili (-i) +1s,1s ssa.ac
iii) | liii ~i (il-i) z1a,zz ss.ss
iv) li ii liii ili ss,++ /.zs
v) | liii ~i (-i) aaz,ss zs.zz
zs, vv-zz + -uu (iiiii
nii aia+ - zz + ai +u nai a i +i l-ii lilc, ila- i +i +ai
+i zi, l-l-ii, (uiv, i, , i+la+ (uiv v aiili a lalau +u na
+ai a i lu+uiv ai (i t
(ii -)
+u na +ai +i
aia
+ai +
ila-
i +i
%
l-l-ii (uiv i i+la+
(uiv
i lu+qui
acnl+n v
ilal +--c-c
(aiili) lnlac
sa 1sz,sa zs+,a1 1z,sz as,za zi- zi-
(ra) (sc.az) (z/s.s) (zs.ss) (s.sc) (i) (i)
+u i+ acnl+n v ilal +--c-c (aiili) lna + a1,1z,za1a +i
ai-u tv i + +liu ni iiilu t+ acnl+n v ilal +--c-c
(aiili) lna +i lilc +-i aii t+
l-l-ii v (uii +i a1,1z,za1a +i iiliu lua llaa ( +i uain +
lul(u l+i i t +l+ i v +i i za1a + (iia ni iu llaa (, i
l+ ni t, +i uain lul(u l+i i t+
zz, -iiu +i, ni+ na l-ii ii ivi + lnv ii l(zii-la(zi + a ivi lali
tu i + (iia z+z,sz nii ilcu l+v v t+
UUcU...U
90
zs, -iiu +i, ~a v ii ain, +aii -il lali oa a a l(ai+ 1s,aa,za11
uii zz,a+,za11 +i liai + ii za1a-11 uii za11-1z + lnv i +i ( +i s,s%
+ci + s,s% lui l+i t, + u+ l+ za11-1z + lnv i +i ( iiliu ati ti
iui+ +ai a i +i ( a +i lq +i ia a iu tv iv (-il lali) + iul+
a-i+a + iii l(ai+ a1,aa,za11 +i iiliu +zas,ss nii +i (ui ni
+ii t, i l+ ivi + ii iiliu l+i i t+
zs, ui i + (iia i+i +i iz+uiai aialt+ l+i i t,ii l(i i t+
aa, nii ailu + ii lou ai 1 11 u+ +i ali nii + l-i-a t +
UUcU...U
91
i za1a-za11 +i ii i lu(a (iila+ i)
i iiu +i iii-iu ai un v +n
li
in
i
ui
i
in
i
ui
i
in
i
ui
i
in
i
ui
i
in
i
ui
i
i i- s+,s1+,ss rz,s.sr z,zza,as z,zsz.sa a,zaz,sa z,/c/.s a,s1s,as z,sss.a/ s+,1az,ss ca,//.rs
i lii-
(ii,ril)
1a,zss,sz /,cc.rs za+,sa sas.rs (zs+,sa) (,zz./z) a+a,s+ ,as.az 11,sza,ss s,rz./
il-n
lnl-n
1,szz,a1 ,/.cr
inn
ii,(ril)
s,z+s,ss c,csa.sz
i l-i|
ii
+ss,z1 rsc.a
i i a,s1a,zz ,acs.a/
i +,zz+,a1 ,za/./
inn ril +,s+ ss.sz
inn i ssz,ss ,a/.s
liii| i
- l,,
(-~)
(s1a,sz) (crs.z/)
ii l
i li ni
sas,zs ,sra.rs
i, ii,(ril) s,ass,+s s,zcz.z/
liln | a1,1s+,zs zr,ss.sa
UUcU...U
92
za1a-za11 + i lu(a +liu lc-ii
. ii, n- i i i ln ii| | i| ili- ii; li n r
i;|i; ,ii i| n-- ln nii aia+ 1z lii lii i ii
i i - i -ii ni r|
z. iil i li iin - -ii | - iil nlnllii i i-i|
nii i zaaar l-iln i i|ln iil ;i;i (|) -
n|n i|, li ni r|
i +i l-iiii
i) iiu - iri ;-in, iln l-, ir liilin i-n| i, l-| il iil-
r|
ii) +i - l| ni lnn, ii lni, i i- ;-il
iil- r|
iii) un v - n n i;i;, -i i iiin, |i li, l- i--
;-il iil- r|
iv) iii-iuai iv - ll i liil|, il- -i iln,
i- -l-l rln, , i-in, +l, lnii, ii lnn
liil|, i i-i| i, i iniln| ;-il iil- r|
n| i ii i n i n|n li ni r|
s. i i - ii li - l-ii lii in i nii i ii rn liil|
i-i| in i iil- r|
. il-n lnl-n - ii i - -i i-i ii - nn - nii
iil- r lr iil i - nil iii il-n r| li i ni r |
r. ini| i (-n| i) lin i i -|i r| li ni r il ;- |
,ii iln iii iil nlnllii i lnii,i, i iil i,lii
i -i ;-il | ini| l-ilni,iil i iiln r| r, i ili- llrn r|
c. | ii - rn l-lni i i - | n| ili l i-i ln
| r i ;r l| ii i - r| liii i ni| ;l n-- ll-ii, ni i
liln |, i - r| li i ni|

Annual Report 2010-11

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Annual Report 2010-11

Uploaded by

Copyright:

Available Formats

UU,U -}xyw

MECON LIMITED, RANCHI - 834002

(ii) i-il i| li^i z

38ok okf"kZd izfrosnu 2010&2011

You might also like