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    Annual Report 53

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    Annual Report 53

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    of 1

    Biotechnology Industry Research Assistance Council (BIRAC)

    In addition to the above as stated in the Balance Sheet, BIRAC has also received an amount of Rs. 31.4979 crore in 3
    instalments for implementing BIPP and Bio-incubator schemes under I&M Sector.

    The second tranche of funds received are as under:


    • Rs. 15.00 crorevide DBT Sanction Order no. BT/BIRAC/01/2012 dated 19.11.2012 under I& M sector head.
    • Rs. 4.9979crorevide DBT Sanction Order no. BT/BIRAC/01/2012 dated 26.03.2013 under I& M sector head.
    • Rs. 11.50crorevide DBT Sanction Order no. BT/BIRAC/01/2012 dated 28.09.2012 under BIPP head.
    The total grant received on this account was Rs. 31.4979 crore.Out of this an amount of Rs. 16.60 crore was utilised and
    amount of Rs. 14.90 crore was carried forward to the next F. . 2012-13.
    The details of disbursement of funds under different projects are as under:

    I & M Sector Amount (Rs.)

    14/01/2013 C Camp 1,95,00,000.00


    22/02/2013 IIT Madras 4,12,60,000.00
    27/02/2013 IKP Knowledge Park 3,30,00,000.00
    06/03/2013 KIIT Bhubneshwar 1,52,18,000.00
    07/03/2013 IIT Kanpur 3,88,99,200.00
    30/03/2013 IIT Delhi 1,51,00,000.00
    30/03/2013 BIPP 15,19,000.00
    30/03/2013 BIPP (other expenditure for the scheme) 15,14,000.00
    TOTAL 16,60,10,200.00

    19. BIRAC had received Rs. 10.25 crore from Department of Biotechnology (DBT) under DBT- ellcome Trust Programme. The
    amount has been kept in a separate bank account. No disbursement was made since there was no specific direction received
    from DBT. Accordingly, the interest earned amounting Rs. 7,97,534/- has not been included in the income of the company. This
    amount would be referred in the statement of utilization to be submitted to DBT.
    20. BIRAC is registered under section 25 of the Companies Act, 1956. The company has applied for registration under
    section 12A of the Income Tax Act, 1961. The company has also sought approval under section 80G of the Income Tax Act,
    1961 for deduction in respect of donations.
    21. Registration for EPF was applied for in December 2012. The Company got the registration intimation in April, 2013.
    The Company henceforth, deposited the EPF contribution with the EPF authorities for the coverage period of June 2012
    to March, 2013.
    22. Foreign Exchange Transactions: During the current financial year the following income/expenditure has been incurred.
    A. Income: NIL
    B. Expenditure:
    (i) Foreign travel:
    (a) Directors: NIL (b) Other Employees: (One). Rs. 25,436.00 (including USD 300 and other expenses in INR)
    (ii) Database Subscription: Rs. 16,53,789.00 (USD 30,000)
    23. CIF value of import is NIL for the current financial year.
    24. Details of payment toStatutory Auditors: (Amount in Rs.)
    Audit Fees: 50,000.00
    Service Tax: 6,180.00
    Total 56,180.00
    25. This is the first financial year of the Company as it is operating from 20th March, 2012. Hence, no figures pertaining to
    previous year has been mentioned.

    Annual Report 2012-13 48

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