Orissa mineral Development ltdPresentation Transcript
THE ORISSA MINERALS DEVELOPMENT COMPANY LIMITED (OMDC)
Company History The Bird Group of Companies (BGC), under Ministry of Steel, Government of India was part of erstwhile Bird & Company Ltd, which was nationalized by the Government of India by virtue of The Bird &Company Ltd ( Acquisition and Transfer of Undertakings and other properties ) Act, 1980 ( Act No. 67 of 1980).Consequent upon such nationalization of the Undertaking, shares held by the said company in twenty-one companies specified in Schedule I to the aforesaid Act stood transferred in the name of the President of India. Based on the share holding pattern, out of the twenty-one companies, the following companies came under the administrative control of the Ministry of Steel, Government of India, and renamed as Bird Group of Companies which has head quarter at Salt Lake in Kolkata, WestBengal.
Company Profile The company was incorporated in the year 1918. Its authorised share capital is Rs.0.60 crores. Its mines are located around Barbil in Keonjhar District of Orissa. This is one of the oldest iron ore mining companies. After the company came under the Ministry of Steel, Government of India, the Government extended financial support to the company in the following areas : (a) Development of Mines (b) Clearing outstanding dues. (c) Creating facilities for sizing iron ore and (d) Replacement of old/worn out equipment and providing new equipment. For the purpose of improving the financial health of the company a number of steps had been taken since 1991-92. Apart from mining and marketing of iron ore the company spread up its activities in the field of mining and marketing of manganese ore. The company also endeavourer to rationalize manpower and through the support of the Ministry in the from grant-in-aid 479 nos. of employees of various categories were separated under V R Scheme.
The company has a joint venture in the name and style of East India Minerals Limited (EIML) with stake of 26% in it’s paid up equity share capital. The JVC was set up in the year 1992 for production of sponge grade iron ore .It started commercial production from September, 1999. It has a crushing and screening plant of one million tonne capacity. With the growing demand of iron ore financial health of JVC also improved considerably and it declared interim dividend during the year 2006-07.
List Of Director SHRI. AMRENDRA PRASAD CHOUDHARY - (EX- OFFICIO) ( DR. SATISH CHANDRA -(CHAIRMAN) SHRI UDAI PRATAP SINGH -(GOVT. NOMINEE DIRECTOR ) SHRI UMESH CHANDRA -(EX- OFFICIO ) SHRI TAPASENDRA CHATTAPADHYAY – (NOMINEE) SHRI HARSH MAHAJAN – ( NON-EXECUTIVE INDEPENDENT DIRECTOR) SHRI ASHOK VIJ - (NON-EXECUTIVE INDEPENDENT DIRECTOR) MRS. UMA MENON - (NON-EXECUTIVE INDEPENDENT DIRECTOR)