| What is deferred tax recognized on under Accounting Standard 22? | timing differences, being difference between taxable income and accounting income that originate in one period and are enabled for reversal in one or subsequent periods | Deferred tax is recognized, subject to consideration of prudence, on timing differences, being difference between taxable income and accounting income that originate in one period and are enabled for reversal in one or subsequent periods. 11. Provisions, Contingent Liabilities & Contingent Assets (Accounting Standard 29): Provisions are recognized only when there is present obligation as a result of past events and when a reliable estimate of the amount of obligation can be made. Contingent liability is disclosed for (i) Possible obligation which will be confirmed only by future events not wholly within the control of V.O.C Port or (ii) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle, the obligation or a reliable estimate of the amount of the obligation cannot be made. | 69 | definition | 1.000 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Deferred tax is recognized, subject to consideration of prudence, on timing differences, being difference between taxable income and accounting income that originate in one period and are enabled for reversal in one or subsequent periods. | 92 | page=92,block=2 | 0.700 | valid |
| What is the basis for determining current tax under Accounting Standard 22? | the amount of income tax determined to be payable in respect of the taxable income for a period | Employer’s contribution is being remitted to NPS Trust through NSDL under the Registration Code of the Port on monthly basis. As on Balance Sheet date 99 employees are covered under this scheme. 9. Borrowing Cost (Accounting Standard 16): Borrowing costs that are directly attributable to the acquisition and construction of assets are capitalized till the date on which the asset is commissioned. Interest on loans after capitalization is charged to Revenue account on accrual basis. at present Port has not availed any loans. 10. Taxes on Income (Accounting Standard 22): Current tax is the amount of income tax determined to be payable in respect of the taxable income for a period. | 589 | definition | 1.000 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Taxes on Income (Accounting Standard 22): Current tax is the amount of income tax determined to be payable in respect of the taxable income for a period. | 92 | page=92,block=2 | 0.700 |
| What is the envisioned purpose of Tuticorin ‘SPEEDZ’ in relation to port-led industrialization? | “Safe, Smart, Secure, Speedy & Sustainable” Development Zone | • 5 MW Ground based Solar and 2 MW Wind Power Plant Projects are nearing completion. • The Port is also working to set up a 50 MW of Wind Solar Hybrid Power Plant on PPP basis. • 6 e-cars have also been deployed and the cars are charged using solar power. • Energy Consumption has been substantially reduced by replacement of conventional lighting by LED lights throughout the Port area at a cost of ₹3.95 crores. • VOCPA is also positioning itself for transition to a Green Hydrogen Hub Port through a 3000 TPD Green Hydrogen Project and Off Shore Wind Power Project. 5. Port-led Industrialisation:- The Port-led Industrialization is vital for VOCPA, and its eco system since Port has a very limited hinterland. Tuticorin ‘SPEEDZ’ is visualized as a “Safe, Smart, Secure, Speedy & Sustainable” Development Zone. VOCPA became the first Major Port to allot 222.69 acres of land to M/s. | 751 | definition | 1.000 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Tuticorin ‘SPEEDZ’ is visualized as a “Safe, Smart, Secure, Speedy & Sustainable” Development Zone. | 8 |
| What platform enables citizens to file grievances online from any location? | Centralized Public Grievances Redress and Monitoring System (CPGRAMS) | Grievances, Ministry of Personnel, Public Grievances and Pensions, New Delhi with a copy to Ministry of Shipping, New Delhi for information, during September, 2007 for publishing in the website called Centralized Public Grievances Redress and Monitoring System (CPGRAMS). The Portal also facilitates to receive Grievances lodged online through internet by the citizens from any geographical locations. In addition to the above, Chairman and Deputy Chairman are also sparing time in week days for redressing the grievances of persons expeditiously. Apart from meeting Chairman and Deputy Chairman, the employees and Port Users meet all Heads of Department to redress their grievances pertaining to concerned Department. 11. | 201 | definition | 1.000 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Grievances, Ministry of Personnel, Public Grievances and Pensions, New Delhi with a copy to Ministry of Shipping, New Delhi for information, during September, 2007 for publishing in the website called Centralized Public Grievances Redress and Monitoring System (CPGRAMS). | 28 |
| What are Ports? | the bedrock of the economic development of a Country | 1.1 INTRODUCTION The growth of economy and social improvement of a Nation depends on the development of the Ports in the Country. Ports are the bedrock of the economic development of a Country. They act as a centre for exchange of culture, language and acts as a bridge among the Nations, by facilitating economic co-operation. | 140 | definition | 0.980 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Ports are the bedrock of the economic development of a Country. | 17 | page=17,block=3 | 0.850 | valid |
| What commenced during the trial run on November 30, 2021? | through X-ray container scanner commenced | 30.11.2021 Trial run for drive through X-ray container scanner commenced. Project Cost Rs.46.26 cr. | 31 | relationship | 0.970 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Trial run for drive through X-ray container scanner commenced. | 22 | page=22,block=2 | 0.800 | valid |
| Why are The License Fee / Lease rental income receivable which disputed? | court cases being subjudice are not accounted as income in books of accounts | ii. The License Fee / Lease rental income receivable which are disputed due to court cases being subjudice are not accounted as income in books of accounts. Similarly, the MGT dues of those parties for which the agreement has not been executed and disputed has not been accounted owing to its uncertainty. | 79 | relationship | 0.970 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | The License Fee / Lease rental income receivable which are disputed due to court cases being subjudice are not accounted as income in books of accounts. | 98 | page=98,block=2 | 0.800 | valid |
| What financial impact resulted from the doubtful recovery of the investment in Sethusamudram Corporation Ltd.? | overstatement of ‘Investments’ and understatement of ‘Provisions’ by ₹ 50 crore | 44th Administration Report 2022-23 V.O.Chidambaranar Port Authority V.O.CHIDAMBARANAR PORT AUTHORITY Action Taken Notes / Reply to Separate Audit Report for the year 2022 - 23 Sl. No Audit Comments Action Taken 3 Investments – Long term investments (schedule 4)Shares, Debentures or Bonds Equity Contributions – Sethusamudram Corp. Ltd. – ₹ 50 crores Sethusamudram Corporation Ltd. which stopped the operations from 2007 and is in the process of winding up. An amount of ₹ 50.00 crore being equity contribution in the company required to be provided for impairment of the investment in view of doubtful recovery of the invested amount. This resulted in overstatement of ‘Investments’ and understatement of ‘Provisions’ by ₹ 50 crore. The profit for the year is overstated to that extent. | 653 | relationship | 0.970 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | This resulted in overstatement of ‘Investments’ and understatement of ‘Provisions’ by ₹ 50 crore. | 120 | page=120,block=1 |
| What initiative led to the development of India's first indigenously developed VTS Software? | make in India initiative of NTCPWC, IIT Chennai | LoA issued for design, Engineering, Supply, Construction, Erection, Testing & Commissioning of 5MW (AC) Grid connected Ground based Solar PV Power Plant having 10 years lant O&M ix. 30.09. Shri Sarbananda Sonowal, Hon'ble Minister for Ports, Shipping & Waterways and Ayush, inaugurated the India’s first Indigenously developed VTS Software by make in India initiative of NTCPWC, IIT Chennai. x. 21.12. A new bunkering service was flagged off at Port for supplying bunker fuel to the ships at Anchorage. xi. 11.01. International luxury Cruise ship 'MS Amera' made her first call to VOC Port. xii. 15.03. The Port handled 36. Million Tonnes of cargo, and surpassed the target of 36 Million Tonnes, set by the Ministry of Ports, Shipping & Waterways, Government of India, 17 days ahead in the FY 2022-23. 18. | 343 | relationship | 0.970 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | Shri Sarbananda Sonowal, Hon'ble Minister for Ports, Shipping & Waterways and Ayush, inaugurated the India’s first Indigenously developed VTS Software by make in India initiative of NTCPWC, IIT Chennai. |
| What is one way ports help address food scarcity and poverty? | They also act as an elixir for solving the food scarcity and poverty alleviation. | 1. INTRODUCTION The growth of economy and social improvement of a Nation depends on the development of the Ports in the Country. Ports are the bedrock of the economic development of a Country. They act as a centre for exchange of culture, language and acts as a bridge among the Nations, by facilitating economic co-operation. They also act as an elixir for solving the food scarcity and poverty alleviation. They are the catalysts for growth and facilitates increase in foreign exchange earnings. 1. HISTORY OF TUTICORIN In Literature, the earliest mention has been made in 88 AD in Greek work "Periuplus of the Erythrean Sea". In AD 124, the earliest reference was made by Ptolemy who has observed —'Country of Kareoi, in the Kolkhic Gulf, where there is a pearl fishery, Sosikourai and Kolkhoi and emporium at the mouth of the river Solan". | 327 | relationship | 0.970 | https://www.shipmin.gov.in/sites/default/files/Administration%20Report%202022-23%20%281%29.pdf | They act as a centre for exchange of culture, language and acts as a bridge among the Nations, by facilitating economic co-operation. They also act as an elixir for solving the food scarcity and poverty alleviation. They are the catalysts for growth and facilitates increase in foreign exchange earnings. |