Fund Management Under CMS.

VIKAS PUROHIT11/MBA/086Summer internship Report submitted toGTUIts all about Imagineering.

ACKNOWLEDGEMENT

I VIKAS PUROHIT highly thankful to all persons whom are provided their precious time, knowledge and support during my summer project. This project had been a great learning experience for me and the below mentioned people were some of the few who played a significant role in making it so. I am highly obliged to Mr. DHAVAL DEKIVADIYA (Cluster FA&A) and Mr. S.K.ROY (Manager - HR) for giving me the permission to undergo training in Larsen & Toubro Ltd.

I am also thankful to Mr. DHAVAL DEKIVADIYA (FINANACE MANAGER) who helped me accomplishing my summer project.

I am also thankful to all my faculty members of AIT for imparting in us all knowledge and skills required at a work place along with the practical exposure to management world.

Yours Sincerely (Vikas Purohit)

PREFACE

This is a small project report composed while under taking SUMMER training at Larsen & Toubro Ltd.. The report consist information of the fund management under CMS system of techno park site (Baroda), how it works and how manages its daily cash management

The main aim of the training is to observe and understand the management involved in the organization and its implementation at various tasks and places. Again it is the part of our academic session of my M.B.A. Program.

Every effort has been made to avoid errors or omissions in this report. However any errors or mistakes if possibly found may be a result of instrument or human error and must be neglected and I oblige for this. The data and other materials depicted in this report is correct as far as my knowledge is concerned still chances of error persists.

Last but not least I am thankful to all the authorities of Larsen & Toubro Ltd. who offered me the chance of undertaking summer training project under their organization.

(Vikas Purohit).

EXECUTIVE SUMMARY

This is a small report on summer training project undertaken at Larsen & Toubro Ltd. At B/H Rajpath Club 9th Avenue S.G.Highway. The report is about general information and Fund management under CMS system of sites in L&T (ECC) division.

Since it is Project Based Organization at dislocated areas the daily fund monitoring and management plays a vital role. There are lots of costs saving majors available In CMS system which helps the organization (L&T) to save their financing cost over the period of time.Company Profile Larsen and Toubro is an India-based Conglomerate,with Diverse Interests Such as Construction, Hydraulic Equipment, Electrical and Electronic Power Services, Fertilizer Projects, Medical Electronics, Financial Services and Information Technology. It Generates Almost 85% of Its Revenue from The Construction Business.

History Larsen & Toubro was founded in Mumbai In 1938 By Two Danish Engineers, Henning Holck-Larsen and SorenKristian Toubro.

Beginning with the import of machinery from Europe, the company rapidly took on engineering and construction assignments of increasing sophistication. Today, the company sets Global engineering benchmarks in terms of Scale and complexity. Offices and Customers

Apart From Several Offices In India, the Company Has Offices In The USA, Europe, Middle East and Japan. The Customer Profile Of The Engineering Construction & Contracts Division of L&T Includes Samsung, Chevron, Bechtel, Kvaerner, Pirelli, Siam Michelin, Goodyear etc.

L&T ECC Division

ECC - The Construction Division Of Larsen & Toubro Limited - Is India's Largest Construction Organization. Many Of The Country's Prized Landmarks - Its Exquisite buildings, Tallest Structures, Largest Industrial Projects, Longest Flyover, Highest Viaducts - Have Been Built By ECC. Leading-Edge Capabilities Cover Every Discipline Of Construction: Civil, Mechanical, Electrical and Instrumentation. As a Division Of L&T, ECC Has The Resources To Execute Projects Of Large Magnitude and Technological Complexity In Any Part Of The World. The business of ECC Division is organized in six Business Sectors Which will primarily be Responsible for Technology Development, Business Development, International Tendering and work as Investment Centres. ECC Division's Head Quarters in Chennai, India. In India, 7 Regional Offices and over 250 project sites. In overseas It Has offices in Gulf and Other overseas Locations.

Turnkey Capabilities

ECC is equipped with the Requisite Expertise and wide-ranging Experience to Undertake Lumpsum Turnkey (LSTK) Contracts with single-source Responsibility. LSTK Assignments are Executed using state-of-the-art design tools and Project Management techniques. ECCs track Record of Projects Cover every Industrial Sector and Infrastructure Development Projects.

Managing an Entitys Resources

THEMANAGERFinancial marketValue creationDiscount Rate

Cash InflowsDebt vs. Tax FinancingEconomics of InformationDatabase ManagementData ModelingIS Planning & DevelopmentRecruitment, SelectionTraining, ProductivityPerformance AppraisalCompensationUnions & Labor RelationsCash ManagementInventory ManagementWorking Capital ManagementInvestment in Human CapitalLong-term AssetsAccounts ReceivableResource DecisionsOperatingDecisions

Human ResourcesDecisionsInvestmentDecisions

Life cycle effects,Business cycle, public events,etc.Financing DecisionsOperatingDecisionsInformation DecisionsCost of Capital

FUND MANAGEMENTA PERSPECTIVE CORPORATE FINANACE, L&T HOUSE.

The Larsen & Toubro (L&T) is one of theLargest company in the world having various divisions and sub-divisions created for different Purposes to Meet the Requirement of the Business Operations.

Every division is having two bank accounts, one for collections and second for disbursements.

In these two bank accounts all the transactions are being made including some of the special transactions.

For all the divisions l&t is having centralised managed accounts in which l&t house is the main controller body of finance.

One Current account is to be opened with Service Provider Bank at each Region which will be known as Hub account.

First we are Considering the Engineering Construction Company [ECC] as one of the Organization Division [OD] of L&T.

L&T CMS SYSTEM

L&T HOUSEDISBURSEMENT A/C

HUB ACCOUNT

COLLECTION A/C

SUB-DIVISION A/C

OD-(ECC)DISUBERSEMENT A/C

COLLECTION A/C

REGION A/C

DELHICENAIKLKATAMUMBAIA'BADB'LORH'BAD

(ALL THE REGION HAVE TWO A/C)

METRO SITEDISBURSEMENT A/CNON-METRO SITEDISBURSEMENT A/C

COLLECTION A/CCOLLECTION A/C

SITERS(LAC)

11

22

34

4 5 6 7

20

ALL THE FUND ARE TRANCFER AT THE END OF DAY IN L&T HUB ACCOUNT

O/D [ECC]

1) METRO SITEs (Citi CMS):-

Sites Which are Performing Work in the Main City Area.

The list of metropolitan cities is as under.1) Delhi2) Chennai3) Kolkata4) Mumbai5) Ahmedabad6) Bangalore7) Hyderabad

The fund requirements of Organization Division in metropolitan cities are being satisfied by Citi Bank by providing overdraft / cash credit facilities. In normal practices metropolitan cities are having their both bank accounts with Citi Bank and that of non-metropolitan cities with Axis Bank.

Among the above Metro-Politian Cities our project is based on Ahmedabad Region.

In this job the L&T O/D [ECC] is managing its Funds under CMS (cash management system).

MODALITY OF CMS OPERATION AT Techno Park site (Baroda).

Current account is to be opened with Service Provider bank at each Region which will be known as Hub Account. There will be a current bank account for each site with debit sweep facility. Bank balance at the end of the day will get Swept to the respective regions hub accountAt the end of the day balance as per bank records in all these job sites will become nil(0).region has to ensure that the sites inform on a daily basis the amount of cheques that are expected to hit the bank account.

Specimen given below 1.1

LARSEN & TOUBRO LIMITED - ECC DIVISION

ECCD - DAYWISE EXPECTED CASH FLOWS

For the week:11th June '12 to 16th June '12

Unit: ABRO

Site :Techno Park (Baroda)

Rs in Lacs

DATE/DAYACCOUNTING CENTRESAMT

11-Jun-12CREDIT (All Collections)1105

MondayDEBIT (for region / site remittances)400

DEBIT (SSC)705


TuesdayDEBIT (for region / site remittances)1

DEBIT (SSC)359


WednesdayDEBIT (for region / site remittances)150

DEBIT (SSC)120


ThursdayDEBIT (for region / site remittances)758

DEBIT (SSC)297


FridayDEBIT (for region / site remittances)20

DEBIT (SSC)360


SaturdayDEBIT (for region / site remittances)30

DEBIT (SSC)40

TOTALCREDIT (All Collections) 3,240

DEBIT (for region / site remittances) (1,360)

DEBIT (SSC) (1,880)

NET COLLN / (DISBT)0

TRANSFER OF FUNDS TO Techno Park (Baroda).

First of all the job sites will be given cheque books issued by the service provider bank which can be used for making payments directly from job sites after obtaining sanction from the concerned regional offices on a daily basis. Regional offices advice to draw their fund requirements.Since cheque books are given to job sites, regional offices will have to monitor the debit sweeps in their accounts on a daily basis and Ensure that the Same Is Within The Limit Sanctioned By Them To The Job Sites.LARSEN & TOUBRO LIMITED - ECC DIVISION

TECHNOLOGY PARK - PHASE I BARODA

Details of cheques being issued on 13.04.2012

`

BANK: CITI BANK, BARODAA/C No. 50005038

Sl. No.Cheque No.DateFavouringAmount ( Rs. )

1363101.05.12YUGADHARMA TRADERS7858

2363203.05.12SOHAM INFOTECH9123

3363305.05.12BAKSHIS SINGH MATHARU99562

4363406.05.12R M ENTERPRISE520103

5363507.05.12JOHNSON CONTROL INDIA PVT LTD2260838

6363608.05.12PYRAMID TECHNOLOGIES346871

7363709.05.12VEGL2695

8363810.05.12MAHOBAT TOURS & TRAVELS3120

9363911.05.12SHREE BALAJI FURNITURES463387

10364012.05.12FLOOR FURNISHERS4167

11364112.05.12STAR REFRIGERATION SALES & SERVICE31733

12364212.05.12TRADE LINK22193

13364313.05.12SHIVAM ENGINEERING256836

14364414.05.12RUBI CONSTRUCTION11968

15364514.05.12MADANLAL S CHAUDHARY19950

16364614.05.12MALIK ENGINEERING WORKS396108

17364714.05.12GANESHBHAI AMBALAL PARMAR17999

18364821.05.12ALLIANZ INDUSTRIAL SERVICES258288

19364922.05.12AJAY PRAJAPATI15517

20365023.05.12HARIOM CONSTRUCTION CO140656

21365124.05.12NATURAL GRANITES118423

22365225.05.12GUJARAT CEMENT CARRIERS179481

23365326.05.12AKAR ENTERPRISE158372

24365427.05.12MAYUR ENTERPRISES17500

25365528.05.12PANKAJ AMBALAL PATEL4200

26365629.05.12PRADEEP SINGH CHOONDAWAT350

TOTAL AMOUNT OF CHEQUES BEING ISSUED5367298

Working Capital Management Working capital is money required for investment in short term assets, e.g Materials (steel / cement, etc.) Spares Consumables Day-to-day expenses (overheads) Credit sales to customers etc. The way working capital moves around the business is modeled by the working capital cycle. This shows the cash coming into the business, what happens to it while the business has it and then where it goes.

Operating Cycle

Working capital is the excess of current assets over current liabilities

Fund requirements:The expenses which will be incurred for the next specified period are to be estimated so that the funds can be available at the time of job / work and can be Utilized / Expended for purchase of any Materials / Equipments.The specimen is given below 1.3

LARSEN & TOUBRO LIMITED (ECC Div) - ABRO

ABBK 3651: TECHNO PARK BARODA

WE FURNISH BELOW THE DETAILS OF FUND REQUIREMENT FOR THE MONTH OF MAY'2012

(Rupees in Lacs)

Sr. No.PARTICULARSWeek 1Week 2Week 3Week 4 Total

1 to 6 MAY'127 to 13 MAY'1214 to 20 MAY'1221 to 27 MAY'12

AWAGES:-

1.Workmen (Regular Supply) - -

2Cooks Wages etc 0.10 0.10

3Sweepers(Office/Mess) & Cleaning Materials 0.05 0.05

0.15 - - - 0.15

BSalary & Other OH Exp:-

1.OPE 0.75 0.75

2Salary & Other 12.50 12.50

3House Rent 0.70 0.70

4Hotel Bills etc - -

5TES & Medical claims - -

6Tea,Tiffin, etc 0.05 0.05

7Telephone Bill 0.10 0.10

8Xerox Expenses 0.10 0.10

9Stationery & Printing Charges 0.10 0.10

10Xerox Expenses 0.05 0.05

11Freight for o/g matls incl Household of staff 0.50 0.50

12Taxes 0.50 0.50

13Other misc. Expenses 0.50 0.50

2.15 0.05 0.65 13.00 15.85

CHired Vehicles:-

1Vehicle Hire Charges 0.25 0.25

- 0.25 - - 0.25

DSUPPLIERS

1.Diesel /Oil / Grease 0.15 0.15

2Construction Material 20.00 20.00

3Small Tools - -

4Heavy Tools - -

5Consumables 1.00 1.00

6Spares 0.10 0.10

7Repairing 0.25 0.25

ESUB CONTRACTORS :-

1Sub-Contractors 300.00 300.00 250.00 850.00

2Hired Equipment -

3Security Services 0.50 0.50

300.00 300.50 250.00 - 850.50

GRAND TOTAL :- 323.80 300.80 250.65 13.00 888.25

A.GRAND TOTAL (IN LACS) 323.80 300.80 250.65 13.00 888.25

B.LESS : PAYMENTS FROM ABRO 20.00 - - 12.50 32.50

C.NET AMOUNT REQD AT TECHNO PARK, BARODA 303.80 300.80 250.65 0.50 855.75

FUNDS ELIGIBILITY OF TECHNO PARK (BARODA).

Fund eligibility of each job will be monitored by the Regional office in the same way as head quarter Regions Eligibility i.e. by comparing the Actual Opening working capital for the year with the Month-end budgeted working capital. (Specimen Given below 1.4)

LARSEN & TOUBRO LIMITED - ECC DIVISION

TECHNOLOGY PARK - PHASE I BARODA

Workings of Funds Eligibility

IStock

Bulk Materials3

Consumables1

Small Tools1

Spares2

Heavy Tools 2

Special Items & Electrical Items110

IICash & Bank Balance3

IIIDeposits (Telephone,Elec,Etc.)1

IVO/s

Billed (Cumm.)224

Payment Recd201

Recoveries11

Net O/s.12

Cumm. Cost 230

Cost > Invoice6

Total Current Assets(+)32

IUnadjusted Mob.Advance & Plant adv4

IIUnadjusted Mat. Advance3

IIIVendor Balances as per Book

aDebit-1.25

bCredit4.25

Net Balance (b-a)3

Total Current Liabilities(-)10

Working Capital22

STATEMENT OF BANK ACCOUNTS.

All Reports and Communication including bank Statement will be sent by service provider bank on a daily basis to The Regional office of site Techno Park (Baroda) Through E-mail.The Region will get a Statement/Report of the Hub Account which will contain sites wise debit/hits for a Particular day along with the amount of Deposits Region Puts in its Books for Those Hits.

STATEMENT OF ACCOUNT NO. 0040025014 LARSEN & TOUBRO LTD (BARODA)Disbursement Account.

FROM 01-05- 2012 TO 31-05- 2012

DATEDESCRIPTIONDEBIT AMTCREDIT AMT

01.MAY 2012BALANCE BROUGHT FORWARD0.00

01.MAY 2012DEBIT INTEREST||CUST REF NO:D080000040025014||TRN REF NO:D08DS61INR 00001-49.98

01.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001008||RAVI CONSTRUCTION CO.||TRN REF NO:D084820080320002-218,335.00

01.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001089||PSL Limited||TRN REF NO:D104767080320003-8,207,538.00

01.MAY 2012STANDING INSTRUCTION||D08SISI052520001 - SWEEP||FROM AHMED IBBS A/C||40025014||TRN REF NO:D08SISI0525200018,425,922.98

01.MAY 2012BALANCE AS ON 01.FEB 20080.00

04.MAY 2012CASH CHECK||CHECK/REF.001114||cash wdl jpr||TRN REF NO:D104780080350003-50,000.00

04.MAY 2012STANDING INSTRUCTION||D08SISI052520001 - SWEEP||FROM AHMED IBBS A/C||40025014||TRN REF NO:D08SISI05252000150,000.00


05.MAY 2012HIGH VALUE CLG CHQ||WITHAWAL||CHECK/REF.001107||shree laxmi engineering||TRN REF NO:D10476708036000K-302,820.00

05.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001095||AJAY KUMAR SHUKLA||TRN REF NO:D104767080360006-104,884.00

05.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001110||PRAKASH S MORE||TRN REF NO:D104767080360005-237,328.00

05.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001094||ARVIND A SHARMA||TRN REF NO:D104767080360004-344,224.00



06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001113||hanuman

sahay choudhary||TRN REF NO:D10476508037000J-24,619.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001108||shree laxmi engg||TRN REF NO:D10476508037000G-25,579.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001106||suraj prakash yadav||TRN REF NO:D10476508037000H-45,999.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001109||tarachanra kumar||TRN REF NO:D10476508037000K-68,057.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001093||gi india security||TRN REF NO:D10476508037000I-75,202.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001102||rajesh tiwari||TRN REF NO:D10476508037000F-136,172.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001097||manish industries||TRN REF NO:D10476508037000D-341,267.00

06.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001104||sai ambey organisation||TRN REF NO:D10476508037000E-489,514.00



08.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001121||SAMPATI RAWAT||TRN REF NO:D104767080390003-3,300.00

08.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001136||INDU TANWANI||TRN REF NO:D104767080390005-4,290.00

08.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001127||KALPANA SAXENA||TRN REF NO:D104767080390004-5,100.00



09.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001137||ALOK GROVER||TRN REF NO:D104767080400006-1,685.00

09.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001123||DINESH CHAND GUPTA||TRN REF NO:D104767080400005-2,100.00

INSPECTION||SERVICES||TRN REF NO:D084820080400003-89,116.00



11.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001138||durga singh rajawat||TRN REF NO:D104767080420002-2,100.00

11.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001133||dr pc dutta||TRN REF NO:D104767080420004-4,000.00

11.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001130||priya jain||TRN REF NO:D104767080420005-4,700.00

11.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001101||TO PANJAK MITTAL||TRN REF NO:D094815080420001-26,089.00

11.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001140||PSL limited||TRN REF NO:D104767080420003-8,207,537.00



12.MAY 2012HIGH VALUE CLG CHQ||WITHAWAL||CHECK/REF.001143||arvind a sharma||TRN REF NO:D10476708043000L-198,187.00

12.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001122||pavender bindal||TRN REF NO:D104767080430004-2,100.00

12.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001141||hotel jaipur ashok||TRN REF NO:D104767080430003-9,092.00

12.MAY 2012INHOUSE CHEQUE PAID||CHECK/REF.001144||earth tech engineer &||contractors||TRN REF NO:D104778080430009-507,088.00




13.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001126||ALAK NANDA NAAGAR||TRN REF NO:D10476708044000A-3,700.00

13.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001112||RAHISAN KHAN||TRN REF NO:D10476708044000B-26,592.00



14.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001142||TATA TELESERVICES LTD||TRN REF NO:D104767080450005-23,665.00



15.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001132||dr rajendra singh||TRN REF NO:D104765080460009-4,000.00

15.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001134||col subhash chandra tyagi||TRN REF NO:D104765080460008-5,000.00

15.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001151||prachi stationers||TRN REF NO:D104765080460006-5,584.00

15.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001149||subhash general store||TRN REF NO:D104765080460007-11,867.00

15.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001153||gulab service station||TRN REF NO:D10476508046000A-82,418.00




18.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001152||hotel jaies||TRN REF NO:D104767080490001-4,510.00



19.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001150||VIJAY GRAPHIC||TRN REF NO:D104767080500006-1,100.00

19.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001096||MANGALA ENGG CONSTRUCTION||TRN REF NO:D08482008050000E-81,636.00


20.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001129||Himmat singh meena||TRN REF NO:D104767080510002-5,000.00



21.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001147||ANJALI FURNITURE CENTRE||TRN REF NO:D104767080520005-1,556.00

21.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001167||ANJALI FURNITURE CENTRE||TRN REF NO:D104767080520006-3,112.00

21.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001161||ABHISHEK INDUSTRIES||TRN REF NO:D104767080520004-47,737.00

21.MAY 2012INHOUSE CHEQUE PAID||CHECK/REF.001176||COASTAL INFRA||TRN REF NO:D10476508052000P-1,222,539.00



22.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001163||Novelty hardwares||TRN REF NO:D104767080530001-3,909.00

22.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001120||SATISH KUMAR VASISTHA||TRN REF NO:D104767080530004-4,800.00

22.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001169||ASHOKA HOLIDAYS PVT LTD||TRN REF NO:D104767080530002-5,382.00

22.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001145||HI TECH INDUSTRIAL CORP||TRN REF NO:D104767080530003-6,259.00



23.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001159||HOTEL KAN CHEN DEEP||TRN REF NO:D104767080540006-1,937.00

23.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001171||AIRTEL AC -2,258.00

23.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001177||TATA TELESERVICES LTD||TRN REF NO:D104767080540001-2,770.00

23.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001170||HOTEL JAIES||TRN REF NO:D104767080540002-5,098.00

23.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001174||RAJESH TIWARI||TRN REF NO:D104767080540004-38,193.00

23.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001111||AGARWAL TRANSPORT SERVICE||TRN REF NO:D104767080540005-56,545.00



25.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001131||SONI HOSTEL||TRN REF NO:D104767080560004-2,500.00

25.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001166||HITESH ELECTRONICS||TRN REF NO:D104767080560003-2,791.00

25.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001173||SHIVAM JAIPURI||TRN REF NO:D104767080560002-36,086.00



26.MAY 2012CASH CHECK||CHECK/REF.001181||CASH WDL JPR||TRN REF NO:D104780080570001-80,000.00

26.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001175||kab con services||TRN REF NO:D10476708057000A-5,529.00

26.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001168||subhash general store||TRN REF NO:D10476708057000B-23,384.00

26.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001156||KAMAR INFRASTRUCTURE||TRN REF NO:D016051080570012-165,743.00

26.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001172||KAMAR INFRASTRUCTURE||TRN REF NO:D016051080570011-266,010.00

26.MAY 2012STANDING INSTRUCTION||D08SISI052520001 - SWEEP||FROM AHMED IBBS A/C||40025014||TRN540,666.00



28.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001135||RAMAWATI DEVI SHARMA||TRN REF NO:D10476708059000E-2,000.00

28.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001165||JALAN WELDING & HARDWARE||STORE||TRN REF NO:D10476708059000D-6,718.00



29.MAY 2012MI CLG CHQ||WITHAWAL||CHECK/REF.001179||gulab service station||TRN REF NO:D104767080600001-60,984.00


LARSEN & TOUBRO LIMITED - TECHNO PARK (BARODA)Bank A/c No (Disbursement):- 0040025014Bank Reconciliation Statement As On 31.05.2012ParticularsAmount ( Rs.)

Balance as per Bank Book / Cash Book (478,326)

A) Cheques issued but not presented for payment

365124.05.12NATURAL GRANITES 118,423

365225.05.12GUJARAT CEMENT CARRIERS 179,481

365326.05.12AKAR ENTERPRISE 158,372

365427.05.12MAYUR ENTERPRISES 17,500

365528.05.12PANKAJ AMBALAL PATEL 4,200

365629.05.12PRADEEP SINGH CHOONDAWAT 350

Total 478,326

B) Cheques deposited but not yet cleared

-

Total-

Balance as per Bank Statement-

2) Non-METRO SITEs (Non citi CMS):-

Sites which are not performing work in the following cities are non-metro sites. Delhi Chennai Kolkata Mumbai Ahmedabad Bangalore Hyderabad

As per the directive of Management, it has been decided to expand the facility of CMS at Non-Metro sites as well.

Since with CITI Bank we are not able to cover Non-Metro sites under CMS, we have taken recourse to other banks like Axis Bank, HDFC Bank, ICICI Bank. These Banks will be known as Service Provider Bank for Non-metro sites.

Gandhidham city has been taken into account for the remaining project.

MODALITY OF CMS OPERATION AT Samakhiali Gandhidham Road Project.

Specimen given below (2.1)LARSEN & TOUBRO LIMITED - ECC DIVISION

ECCD - DAYWISE EXPECTED CASH FLOWS

For the week:1st Feb'12 to 29th Feb'12

Unit: AXIS BANK

Site :Samakhiali Gandhidham Road Project.

Rs in Lacs

DATE/DAYACCOUNTING CENTRESAMT


MondayDEBIT (for region / site remittances)1110

DEBIT (SSC)160


TuesdayDEBIT (for region / site remittances)175

DEBIT (SSC)185


WednesdayDEBIT (for region / site remittances)171

DEBIT (SSC)200


ThursdayDEBIT (for region / site remittances)297

DEBIT (SSC)758


FridayDEBIT (for region / site remittances)20

DEBIT (SSC)240


SaturdayDEBIT (for region / site remittances)30

DEBIT (SSC)5

TOTALCREDIT (All Collections) 3351

DEBIT (for region / site remittances) (1,803)

DEBIT (SSC) (1,548)

NET COLLN / (DISBT)0

TRANSFER OF FUNDS TO Samakhiali Gandhidham Road Project

First of all the job sites will be given cheque books issued by the service provider bank which can be used for making payments directly from job sites after obtaining sanction from the concerned regional offices on a daily basis. Regional offices advice to draw their fund requirements.Since cheque books are given to job sites, regional offices will have to monitor the debit sweeps in their accounts on a daily basis and Ensure that the Same Is Within The Limit Sanctioned By Them To The Job Sites.Specimen given below (2.2)LARSEN & TOUBRO LIMITED - ECC DIVISION

Details of cheques being issued on 01.02.2012 to 29.02.2012

Bkg. No.DateCheque No.Bill No.Contractor's NamePayable Amt

34201.02.121034SHARMA CONSTRUCTION12541

34303.02.12547ARJUN ENTERPRISES57835

34404.02.12895KEDIA TRANS LIFTERS PVT LTD131538

34504.02.121044BHAGVATI GENERATORS34299

34605.02.121054BHAGVATI GENERATORS34299

34705.02.121432JADEJA RAMDEVSINH J51975

34805.02.121064GAGJIBHAI RUPABHAI LUNI34148

34906.02.121074ADITYA ENTERPRISE27482

35006.02.121531NIHAL ENTERPRISES103200

35108.02.12775NIHAL ENTERPRISES199681

35208.02.12385SHAILESH KIRTILAL VORA111753

35308.02.12395BAKUL KIRTILAL VORA111750

35408.02.12405KIRTILAL HALCHAND VORA72643

35508.02.12415DEEPIKA ARVIND VORA142590

35608.02.12425KOKILA SHAILESH VORA142590

35715.02.12435JAYSHREE BAKUL VORA142590

35816.02.121352S R REFRIGERATION22775

35919.02.121363BHIKHABHAI R CHAVDA1627975

36022.02.12111SHARMA CONSTRUCTION30635

36122.02.121014DINESH PANDIT66655

36222.02.121253AZIZUR RAHMAN YUSUF71060

36322.02.12577MEGHA RAM78255

36423.02.12587BHALLA RAM CHOUDHARY34602

36524.02.12607SHIVLAL DEVARAM DANA43144

36625.02.12696PUSHPA SINDAL37234

36725.02.12865BIRBAL RAM164405

36825.02.121541MITHLESH KUMAR MISHRA44658

36927.02.121024KRISHNA TRAILOR SERVICE42140

37029.02.121551MAHAVIRSINH DEVUBHA SODHA119375

37129.02.12835MUSABHAI USMANGANI SALAR45893

Fund requirements: (Specimen given below : 2.3)

FUNDS ELIGIBILITY OF Samakhiali Gandhidham Road ProjectSpecimen given below (2.4)Workings of Funds EligibilityAmt in lacs

IStock10

Bulk Materials8

Consumables4

Small Tools2

Spares1

Heavy Tools 8

Special Items & Electrical Items336

IICash & Bank Balance5

IIIDeposits (Telephone,Elec,Etc.)1

IVO/s

Billed (Cumm.)230

Payment Recd198

Recoveries20

Net O/s.12

Cumm. Cost 258

Cost > Invoice28

Total Current Assets(+)82

IUnadjusted Mob.Advance & Plant adv28

IIUnadjusted Mat. Advance3

IIIVendor Balances as per Book

aDebit-9.25

bCredit8.25

Net Balance (b-a)(1)

Total Current Liabilities(-)30

Working Capital52

STATEMENT OF BANK ACCOUNTS.

BIBLIOGRAPHYBOOKS:- Prasanna Chandra Financial Management The Seventh edition Published by Tata McGraw-HillPublishing Company Limited.

WEB-SITES:- http:// www.larsentoubro.com

OTHERS:- Reports of Larsen & Toubro.

AHMEDABAD INSTTITUTE OF TECHNOLOGY

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Fund Management Under CMS.

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