This document contains the notice and agenda for the Annual General Meeting of a power trading company.
The notice includes details about the date, time and location of the meeting. It also provides explanatory statements for items on the agenda including the appointment of new directors, re-appointment of existing directors, and appointment of the Managing Director.
The agenda includes routine items like consideration of financial statements, declaration of dividend, appointment of auditors. It also includes items relating to changes in the board of directors - appointment of new directors, re-appointment of retiring directors and appointment of the Managing Director.
- The document is the annual report of Vipul Dyechem Limited for 2014-15. It lists the board of directors, auditors, bankers, registered office details and plant locations.
- It provides notice for the annual general meeting to be held on 30th September 2015. The notice includes ordinary business such as adoption of financial statements and declaration of dividend as well as special business regarding re-appointment and revision of remuneration of directors.
- It outlines the e-voting process and cut-off date for determining members eligible to vote. Members can opt for e-voting or voting at the annual general meeting.
1. The document is the annual report for Astra Microwave Products Limited for the year 2014-15. It provides information on the company's board of directors, auditors, bankers, factories, and registrars.
2. The notice is for the 24th Annual General Meeting of Astra Microwave Products to be held on July 30, 2015. The meeting agenda includes adopting the financial statements, declaring dividends, electing directors, appointing auditors, and reappointing the Managing Director and COO.
3. Special resolutions are proposed to reappoint the Managing Director Mr. B. Malla Reddy and the COO Mr. P.A. Chitrakar for five years each and
The document provides information on the board of directors, shareholder/investor grievances committee, audit committee, remuneration/compensation committee, auditors, company secretary, bankers, registered office, plant locations, and registrar and transfer agent of Archidply Industries Limited.
It lists the members of the board of directors, committees, and details of auditors, company secretary, bankers, registered and plant offices, and registrar and transfer agent. It also provides the notice for the 17th annual general meeting to be held on September 29, 2012 to transact ordinary and special business.
The document discusses various requirements and formalities related to the appointment of directors and managing directors in companies under the Companies Act. It provides information on obtaining details from directors, differences between private and public companies, restrictions on loans and remuneration to directors, and requirements regarding appointment of managing directors and other managerial personnel.
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Compliance Overview for Private Limited Company by PCS Lalit RajputLalit Rajput
This document provides an overview of key compliance requirements for private limited companies in India. It discusses requirements around board meetings, issuing share certificates, director disclosures, annual general meetings, maintaining meeting minutes, complying with secretarial standards, approving financial statements, and preparing board reports. It also lists some event-based compliances and annual filings to the Registrar of Companies. The key requirements include holding a board meeting within 30 days of incorporation, issuing shares within 60 days, director disclosures in certain forms, and holding an AGM within 6 months of the financial year end.
This document summarizes 10 legal cases related to company directors and amalgamation. The cases discuss issues such as the removal of directors for financial mismanagement, the liability of directors for failing to file required documents, the validity of appointing additional directors to constitute a board meeting quorum, and the tax consequences of asset transfers during amalgamation. The document provides an overview of different legal issues that can arise regarding company directors and the amalgamation process.
- The document is the annual report of Regent Enterprises Limited for the financial year 2014-15.
- It provides details of the board of directors, auditors, registrar and transfer agents, contents of the annual report including notice of the annual general meeting.
- The notice of annual general meeting provides details of the date, time and venue of the meeting and lists the ordinary and special businesses to be transacted, including adoption of financial statements, appointment of directors and auditors.
- The document is the annual report of Vipul Dyechem Limited for 2014-15. It lists the board of directors, auditors, bankers, registered office details and plant locations.
- It provides notice for the annual general meeting to be held on 30th September 2015. The notice includes ordinary business such as adoption of financial statements and declaration of dividend as well as special business regarding re-appointment and revision of remuneration of directors.
- It outlines the e-voting process and cut-off date for determining members eligible to vote. Members can opt for e-voting or voting at the annual general meeting.
1. The document is the annual report for Astra Microwave Products Limited for the year 2014-15. It provides information on the company's board of directors, auditors, bankers, factories, and registrars.
2. The notice is for the 24th Annual General Meeting of Astra Microwave Products to be held on July 30, 2015. The meeting agenda includes adopting the financial statements, declaring dividends, electing directors, appointing auditors, and reappointing the Managing Director and COO.
3. Special resolutions are proposed to reappoint the Managing Director Mr. B. Malla Reddy and the COO Mr. P.A. Chitrakar for five years each and
The document provides information on the board of directors, shareholder/investor grievances committee, audit committee, remuneration/compensation committee, auditors, company secretary, bankers, registered office, plant locations, and registrar and transfer agent of Archidply Industries Limited.
It lists the members of the board of directors, committees, and details of auditors, company secretary, bankers, registered and plant offices, and registrar and transfer agent. It also provides the notice for the 17th annual general meeting to be held on September 29, 2012 to transact ordinary and special business.
The document discusses various requirements and formalities related to the appointment of directors and managing directors in companies under the Companies Act. It provides information on obtaining details from directors, differences between private and public companies, restrictions on loans and remuneration to directors, and requirements regarding appointment of managing directors and other managerial personnel.
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Best quality Plywood Manufacturers in India & Plywood Suppliers? We are India's largest Manufacturer of Plywood in Mumbai, Delhi, Chennai, Hyderabad, Pune,
Compliance Overview for Private Limited Company by PCS Lalit RajputLalit Rajput
This document provides an overview of key compliance requirements for private limited companies in India. It discusses requirements around board meetings, issuing share certificates, director disclosures, annual general meetings, maintaining meeting minutes, complying with secretarial standards, approving financial statements, and preparing board reports. It also lists some event-based compliances and annual filings to the Registrar of Companies. The key requirements include holding a board meeting within 30 days of incorporation, issuing shares within 60 days, director disclosures in certain forms, and holding an AGM within 6 months of the financial year end.
This document summarizes 10 legal cases related to company directors and amalgamation. The cases discuss issues such as the removal of directors for financial mismanagement, the liability of directors for failing to file required documents, the validity of appointing additional directors to constitute a board meeting quorum, and the tax consequences of asset transfers during amalgamation. The document provides an overview of different legal issues that can arise regarding company directors and the amalgamation process.
- The document is the annual report of Regent Enterprises Limited for the financial year 2014-15.
- It provides details of the board of directors, auditors, registrar and transfer agents, contents of the annual report including notice of the annual general meeting.
- The notice of annual general meeting provides details of the date, time and venue of the meeting and lists the ordinary and special businesses to be transacted, including adoption of financial statements, appointment of directors and auditors.
- The company reported standalone revenue of Rs. 1,199.28 lakhs for FY2013, a 7.09% decrease from the previous year. Standalone profit after tax was Rs. 34.78 lakhs, a 14.15% decrease.
- Consolidated revenue was Rs. 1,560.99 lakhs, a 2.53% decrease, while consolidated profit after tax was Rs. 38.95 lakhs, a 12.23% decrease.
- The company's wholly owned subsidiary Usha Martin Education Private Limited manages schools but plans to change its business model from running affordable schools to running high-end schools. It also plans to sell its existing school management
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The memorandum of incorporation is for The One Hundred and Three Home Owners Association NPC. It establishes the association to manage collective interests for its members regarding common property. Key details include:
- Membership is limited to owners of the 206 cluster and garage erven.
- The association has powers to collect levies from members and maintain common areas.
- Directors are appointed to manage the association and collect funds.
- General meetings allow members to vote on important issues like levies.
- Rules govern members' use of common areas and obligations to the association.
A Managing Director means a director who is entrusted with substantial powers of management by virtue of an agreement with the company or a board or shareholder resolution. A Managing Director exercises their powers subject to the control and direction of the board of directors. A Whole Time Director includes a director in whole time employment of a company and must be vested with substantial powers of management. A Manager has management of the whole or substantially the whole of a company's affairs, and can be a director or any other person, whether employed under a contract or not. A company cannot simultaneously employ a Managing Director and a Manager.
This document discusses key provisions around director disqualifications and vacations of office under the Companies Act 2013.
It outlines various scenarios that would lead to disqualification under section 164(1), such as unsound mind, insolvency, criminal convictions, and failure to obtain a director identification number. It also discusses situations that would lead to vacation of office under section 167, such as failure to file financial statements or repay deposits for over a year.
The minimum and maximum number of directors for different types of companies is also specified. For listed companies, at least one woman director must be appointed within one year. Failure to maintain the minimum number of directors could invalidate business transactions until new directors are appointed through a board or
APPOINTMENT OF MANAGING OR WHOLETIME DIRECTORCS Ashish Shah
The document provides steps to appoint and remove managing directors and whole time directors in a company.
1. It outlines convening a board meeting and general meeting, passing resolutions, filing necessary forms with the registrar of companies, and obtaining central government approval if required to appoint a managing director or whole time director.
2. For removal, it notes the appointment is a contract and removal may require compensation, and outlines providing notice and representations if removing a managing or whole time director before the end of their term.
Directors role responsibility_singapore_acraFuturebooks
We examine your rights, roles and responsibilities as a director of a Singapore private limited company.
A director is the person responsible for managing the affairs of the company and providing it with directions.
You are required to make decisions objectively, act in the best interest of the company, and be honest and diligent in carrying out your duties.
More here: http://futurebooks.asia/blog/roles-and-responsibilities-of-a-director-in-a-singapore-startup/6261
Resignation of director – A new provision: Duty of director, Board and compan...D Murali ☆
The Companies Act, 2013 introduced new provisions regarding the resignation of directors to resolve issues around the process. Under the new law, a director must resign in writing and send the notice to the company's registered office. The resignation takes effect from the date the notice is received or a later date specified. The board must note the resignation but does not need to accept it. Both the resigning director and company have duties to file notices with the Registrar within 30 days to avoid potential litigation. The new law aims to bring clarity and minimize disputes regarding a director's resignation.
The document provides information on Bengal & Assam Company Limited including:
- The Board of Directors and other key personnel of the company.
- Details on the company's bankers, auditors, registered office, and other administrative details.
- A brief overview of the company's operations as a core investment company and its outlook for the coming year.
- Key financial details including total revenue, profit, and dividend details.
This document summarizes key aspects of managerial appointments and remuneration under the Companies Act, 2013. It discusses definitions of managerial positions like MD, WTD, and manager. It outlines qualifications, approvals, and maximum tenure required for managerial appointments. It also explains limits on total managerial remuneration and sub-limits payable based on a company's net profits. Exceptions for remuneration paid to directors in a professional capacity are also summarized. Notable court judgments pertaining to managerial remuneration are briefly discussed.
Eco Recycling Limited is India's leading e-waste management company. It is the first e-waste recycling company registered with pollution control boards in India. The company caters to all e-waste related needs of producers, bulk consumers, retailers, government organizations, waste workers, and entrepreneurs. It provides e-waste recycling, reverse logistics, skill development opportunities, and business opportunities related to e-waste. The company aims to make India a responsible e-waste recycling nation by managing e-waste in an environmentally sound manner.
The document summarizes key provisions around independent directors, women directors, related party transactions, corporate social responsibility committees, and other committees under the Companies Act 2013 in India. It outlines requirements for independent directors, qualifications for independent directors, their term and appointment process. It also discusses provisions around having a woman director, defining related parties and transactions with them, and mandatory committees around corporate social responsibility, audits, nominations and remuneration, and stakeholders' relationship.
This document provides an overview of key provisions related to the appointment of managing directors, whole-time directors, and managers under the Companies Act of India. Some key points include:
1) A managing director must be a company director entrusted with substantial management powers. A whole-time director devotes their whole time to company affairs.
2) Appointments must follow certain rules, such as the appointee already being a company director. Public companies and subsidiaries of public companies require board and shareholder approval.
3) Certain large companies must have a managing/whole-time director or manager. No more than one person can be appointed as manager, while a company can have multiple managing directors
This document provides information about the requirements for directors under the Companies Act 2013 in India. It discusses the minimum and maximum number of directors allowed for different types of companies. It also summarizes the qualifications, disqualifications, duties, resignations, limits on directorships, and requirements regarding independent directors and women directors. Key points include that every company must have at least one resident director who stays in India for over 182 days, limits on the number of directorships one can hold, duties of directors to act in good faith and avoid conflicts of interest, and criteria for independent directors to qualify as independent.
This document outlines various compliance requirements and deadlines for filing forms under the Companies Act, 2013. It lists 23 different forms that must be filed for events like changes to a company's registered office, allotment of securities, annual returns, financial statements, appointment of directors, and more. The deadlines for filing these forms range from 15 days to 60 days after the relevant event occurs. Failure to meet these deadlines to file the required forms can result in penalties for the company.
The document is a notice for the annual meeting of shareholders of Fifth Third Bancorp to be held on April 15, 2008. The notice outlines 7 items of business to be addressed at the meeting including the election of board members, amendments to authorized shares and compensation plans, and the appointment of an accounting firm. It provides details on shareholder voting eligibility and instructions for attending the meeting.
Changes in appointment of managing director under the provisions of Companies...D Murali ☆
Changes in appointment of managing director under the provisions of Companies Act, 2013 - Dr S. Chandrasekaran - Article published in Business Advisor, dated November 25, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The document summarizes key amendments made by the Companies (Amendment) Act, 2017 in India. Some of the major amendments addressed difficulties in implementation of certain provisions, facilitated ease of doing business, and harmonized company law with other statutes. Specifically, it reduced the time period for name reservation from 60 to 20 days, increased the deadline for informing about a change in registered office from 15 to 30 days, and required companies to prepare consolidated financial statements including associate companies in addition to subsidiaries.
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This document provides information about an annual general meeting of Indian Oil Corporation Limited to be held on September 27, 2011. It includes an agenda with 11 items of business to be conducted. The first 5 items are ordinary business related to adopting reports, declaring dividend, and appointing directors. The remaining 6 items are special business related to appointing 5 new directors to the board. Notes are also provided about proxy voting, attendance, relevant document inspection, dividend payment details, and shareholder requests.
The document contains information about McLeod Russel India Limited's upcoming Annual General Meeting, including details about attendance, proxies, and the agenda. It provides forms for shareholders to fill out to attend the meeting and appoint a proxy if unable to attend. The forms include fields for name, address, signature and agenda items to vote on by proxy.
This document provides information about the Board of Directors and Notice for the 44th Annual General Meeting of DLF Limited.
The Notice includes Ordinary Business such as adoption of audited financial statements, declaration of dividend, appointment of directors and auditors. Special Business includes re-appointment of Mr. Kameshwar Swarup as Whole-time Director for 2 years and appointment of Ms. Savitri Devi Singh as Vice President of DCDL, a subsidiary of DLF.
The Explanatory Statement provides details of terms and conditions of re-appointment of Mr. Kameshwar Swarup as Whole-time Director including salary, perquisites, other benefits and terms of appointment.
- The company reported standalone revenue of Rs. 1,199.28 lakhs for FY2013, a 7.09% decrease from the previous year. Standalone profit after tax was Rs. 34.78 lakhs, a 14.15% decrease.
- Consolidated revenue was Rs. 1,560.99 lakhs, a 2.53% decrease, while consolidated profit after tax was Rs. 38.95 lakhs, a 12.23% decrease.
- The company's wholly owned subsidiary Usha Martin Education Private Limited manages schools but plans to change its business model from running affordable schools to running high-end schools. It also plans to sell its existing school management
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The memorandum of incorporation is for The One Hundred and Three Home Owners Association NPC. It establishes the association to manage collective interests for its members regarding common property. Key details include:
- Membership is limited to owners of the 206 cluster and garage erven.
- The association has powers to collect levies from members and maintain common areas.
- Directors are appointed to manage the association and collect funds.
- General meetings allow members to vote on important issues like levies.
- Rules govern members' use of common areas and obligations to the association.
A Managing Director means a director who is entrusted with substantial powers of management by virtue of an agreement with the company or a board or shareholder resolution. A Managing Director exercises their powers subject to the control and direction of the board of directors. A Whole Time Director includes a director in whole time employment of a company and must be vested with substantial powers of management. A Manager has management of the whole or substantially the whole of a company's affairs, and can be a director or any other person, whether employed under a contract or not. A company cannot simultaneously employ a Managing Director and a Manager.
This document discusses key provisions around director disqualifications and vacations of office under the Companies Act 2013.
It outlines various scenarios that would lead to disqualification under section 164(1), such as unsound mind, insolvency, criminal convictions, and failure to obtain a director identification number. It also discusses situations that would lead to vacation of office under section 167, such as failure to file financial statements or repay deposits for over a year.
The minimum and maximum number of directors for different types of companies is also specified. For listed companies, at least one woman director must be appointed within one year. Failure to maintain the minimum number of directors could invalidate business transactions until new directors are appointed through a board or
APPOINTMENT OF MANAGING OR WHOLETIME DIRECTORCS Ashish Shah
The document provides steps to appoint and remove managing directors and whole time directors in a company.
1. It outlines convening a board meeting and general meeting, passing resolutions, filing necessary forms with the registrar of companies, and obtaining central government approval if required to appoint a managing director or whole time director.
2. For removal, it notes the appointment is a contract and removal may require compensation, and outlines providing notice and representations if removing a managing or whole time director before the end of their term.
Directors role responsibility_singapore_acraFuturebooks
We examine your rights, roles and responsibilities as a director of a Singapore private limited company.
A director is the person responsible for managing the affairs of the company and providing it with directions.
You are required to make decisions objectively, act in the best interest of the company, and be honest and diligent in carrying out your duties.
More here: http://futurebooks.asia/blog/roles-and-responsibilities-of-a-director-in-a-singapore-startup/6261
Resignation of director – A new provision: Duty of director, Board and compan...D Murali ☆
The Companies Act, 2013 introduced new provisions regarding the resignation of directors to resolve issues around the process. Under the new law, a director must resign in writing and send the notice to the company's registered office. The resignation takes effect from the date the notice is received or a later date specified. The board must note the resignation but does not need to accept it. Both the resigning director and company have duties to file notices with the Registrar within 30 days to avoid potential litigation. The new law aims to bring clarity and minimize disputes regarding a director's resignation.
The document provides information on Bengal & Assam Company Limited including:
- The Board of Directors and other key personnel of the company.
- Details on the company's bankers, auditors, registered office, and other administrative details.
- A brief overview of the company's operations as a core investment company and its outlook for the coming year.
- Key financial details including total revenue, profit, and dividend details.
This document summarizes key aspects of managerial appointments and remuneration under the Companies Act, 2013. It discusses definitions of managerial positions like MD, WTD, and manager. It outlines qualifications, approvals, and maximum tenure required for managerial appointments. It also explains limits on total managerial remuneration and sub-limits payable based on a company's net profits. Exceptions for remuneration paid to directors in a professional capacity are also summarized. Notable court judgments pertaining to managerial remuneration are briefly discussed.
Eco Recycling Limited is India's leading e-waste management company. It is the first e-waste recycling company registered with pollution control boards in India. The company caters to all e-waste related needs of producers, bulk consumers, retailers, government organizations, waste workers, and entrepreneurs. It provides e-waste recycling, reverse logistics, skill development opportunities, and business opportunities related to e-waste. The company aims to make India a responsible e-waste recycling nation by managing e-waste in an environmentally sound manner.
The document summarizes key provisions around independent directors, women directors, related party transactions, corporate social responsibility committees, and other committees under the Companies Act 2013 in India. It outlines requirements for independent directors, qualifications for independent directors, their term and appointment process. It also discusses provisions around having a woman director, defining related parties and transactions with them, and mandatory committees around corporate social responsibility, audits, nominations and remuneration, and stakeholders' relationship.
This document provides an overview of key provisions related to the appointment of managing directors, whole-time directors, and managers under the Companies Act of India. Some key points include:
1) A managing director must be a company director entrusted with substantial management powers. A whole-time director devotes their whole time to company affairs.
2) Appointments must follow certain rules, such as the appointee already being a company director. Public companies and subsidiaries of public companies require board and shareholder approval.
3) Certain large companies must have a managing/whole-time director or manager. No more than one person can be appointed as manager, while a company can have multiple managing directors
This document provides information about the requirements for directors under the Companies Act 2013 in India. It discusses the minimum and maximum number of directors allowed for different types of companies. It also summarizes the qualifications, disqualifications, duties, resignations, limits on directorships, and requirements regarding independent directors and women directors. Key points include that every company must have at least one resident director who stays in India for over 182 days, limits on the number of directorships one can hold, duties of directors to act in good faith and avoid conflicts of interest, and criteria for independent directors to qualify as independent.
This document outlines various compliance requirements and deadlines for filing forms under the Companies Act, 2013. It lists 23 different forms that must be filed for events like changes to a company's registered office, allotment of securities, annual returns, financial statements, appointment of directors, and more. The deadlines for filing these forms range from 15 days to 60 days after the relevant event occurs. Failure to meet these deadlines to file the required forms can result in penalties for the company.
The document is a notice for the annual meeting of shareholders of Fifth Third Bancorp to be held on April 15, 2008. The notice outlines 7 items of business to be addressed at the meeting including the election of board members, amendments to authorized shares and compensation plans, and the appointment of an accounting firm. It provides details on shareholder voting eligibility and instructions for attending the meeting.
Changes in appointment of managing director under the provisions of Companies...D Murali ☆
Changes in appointment of managing director under the provisions of Companies Act, 2013 - Dr S. Chandrasekaran - Article published in Business Advisor, dated November 25, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The document summarizes key amendments made by the Companies (Amendment) Act, 2017 in India. Some of the major amendments addressed difficulties in implementation of certain provisions, facilitated ease of doing business, and harmonized company law with other statutes. Specifically, it reduced the time period for name reservation from 60 to 20 days, increased the deadline for informing about a change in registered office from 15 to 30 days, and required companies to prepare consolidated financial statements including associate companies in addition to subsidiaries.
Find the top quality plywood in Delhi by Archidply We have one of the best plywood manufacturer and supplier in India. To know more about visit at https://www.archidply.com/
This document provides information about an annual general meeting of Indian Oil Corporation Limited to be held on September 27, 2011. It includes an agenda with 11 items of business to be conducted. The first 5 items are ordinary business related to adopting reports, declaring dividend, and appointing directors. The remaining 6 items are special business related to appointing 5 new directors to the board. Notes are also provided about proxy voting, attendance, relevant document inspection, dividend payment details, and shareholder requests.
The document contains information about McLeod Russel India Limited's upcoming Annual General Meeting, including details about attendance, proxies, and the agenda. It provides forms for shareholders to fill out to attend the meeting and appoint a proxy if unable to attend. The forms include fields for name, address, signature and agenda items to vote on by proxy.
This document provides information about the Board of Directors and Notice for the 44th Annual General Meeting of DLF Limited.
The Notice includes Ordinary Business such as adoption of audited financial statements, declaration of dividend, appointment of directors and auditors. Special Business includes re-appointment of Mr. Kameshwar Swarup as Whole-time Director for 2 years and appointment of Ms. Savitri Devi Singh as Vice President of DCDL, a subsidiary of DLF.
The Explanatory Statement provides details of terms and conditions of re-appointment of Mr. Kameshwar Swarup as Whole-time Director including salary, perquisites, other benefits and terms of appointment.
Appointment and Remuneration of Managerial Personnel COMPANIES ACT, 2013Proglobalcorp India
The document discusses the appointment and remuneration of managerial personnel in companies according to the Companies Act 2013. It states that every listed company and other public company with a paid up capital of over 10 crore rupees must have whole-time key managerial personnel. It also outlines the process for filing returns of appointment of managerial roles like MD, WTD, CEO, CS, and CFO. The document then describes the roles and responsibilities of KMPs and the process for paying sitting fees to directors. It concludes by discussing remuneration of managerial personnel in listed vs non-listed companies and the conditions for paying remuneration beyond specified ceilings.
This annual report summarizes the activities of Advani Hotels & Resorts (India) Limited for the fiscal year 2009-2010. It includes information such as the notice for the annual general meeting such as dates, locations, agenda items, and notes. It also provides details on the company's board of directors, auditors, managers, and other corporate information. Financial statements for the year including the balance sheet, profit and loss account, cash flow statement and accompanying notes are presented.
The document is a prospectus for the formation of Innovation Automobile Company Limited as a public limited company. It provides details on the company name, registered office location, objectives, capital structure, board of directors, agreements signed, and bank details. Key information includes:
1) The company was incorporated on November 1, 2009 and received its Certificate of Commencement of Business on November 30, 2009.
2) The authorized capital is Rs. 500,000,000 divided into 50,000,000 shares of Rs. 10 each.
3) The objectives are to make multipurpose and luxury vehicles.
4) Two agreements were signed - with Heights Construction for building factories worth Rs.
This document summarizes the legal aspects of directors under the Companies Act 2013 in India. It discusses the minimum and maximum number of directors allowed, restrictions on directorships, appointment and removal of directors, powers and duties of directors, and requirements for women directors. It also summarizes a Supreme Court case regarding the removal of directors by the central government for involvement in fraudulent activities or not fulfilling their obligations. The court upheld the central government's power to remove directors if they form a valid opinion that circumstances exist suggesting fraudulent behavior or default by the director.
We have more than 20 years of experience in designing, advising and implementing solutions as well as providing content and services for a wide repertoire of domestic and global clients across diverse sectors.
- The document is Alembic Limited's annual report for the year 2020-21.
- It lists the company's board of directors, chief financial officer, company secretary, auditors, and other details.
- It provides notice of the 114th Annual General Meeting to be held on August 6, 2021 through video conferencing/other audio-visual means. The meeting agenda includes adoption of financial statements, declaration of dividend, and re-appointment of a retiring director.
An Overview of the Companies Amendment Act, 2017SAS Partners
The much awaited Companies (Amendment) Act, 2017 has seen the light of the day with the receipt of President’s assent on January 03, 2018. The Act is all set to address a wide number of practical difficulties which have been faced by various stakeholders.
The document summarizes key highlights of the Companies Bill 2013 that was passed by the Rajya Sabha in August 2013. Some of the key changes introduced include a uniform financial year for all companies from April to March, allowing private companies to have up to 200 members, introducing one person companies, simplifying the object clause, and expanding the types of securities governed by the bill. The bill also eases rules around buybacks, deposits, auditing and rotations, and introduces concepts like women directors and corporate social responsibility.
Ppt on incorporation of company as per new company act, 2013 (updated)Sandeep Kumar
The document outlines the key steps and requirements for incorporating a company under the Companies Act of 2013 in India. It discusses reserving a company name, drafting the memorandum and articles of association which define the company's constitution and internal management, applying for incorporation and the documents required, and receiving a certificate of incorporation. It also summarizes some of the main contents of a memorandum and articles of association such as membership, rights of members, and limitations.
This document provides notice of the 8th Annual General Meeting of Ganges Securities Limited to be held on July 18, 2022 through video conferencing. It includes the agenda items to be discussed, such as adoption of financial statements, declaration of dividend, reappointment of a director, and appointment of statutory auditors. Instructions are also provided regarding remote electronic voting prior to the AGM for shareholders of the company.
The Group reported a loss of RM3 million for the financial year, while the Company earned a profit of RM676,891. The directors recommended paying a dividend of 1% less 27% tax on ordinary shares, amounting to RM601,776. The principal activities of the Company are investment holding and provision of management services, while its subsidiaries are involved in property development, construction, and quarrying.
This document is the 17th Annual Report of SBEC Sugar Limited for the year 2011. It includes information about the Board of Directors, Auditors, Registered Office, Corporate Office, Bankers and contents of the Annual Report such as Notice of Annual General Meeting, Directors' Report, Auditors' Report, Balance Sheet, and Profit and Loss Account. It also provides details about the re-appointment of Mr. Santosh Chand Gupta as Whole Time Director (Works) of the company for a period of one year, including his salary, perquisites, and other terms.
Appointment of directors and kmp under 2013 act https _www.icsi.edu_web_modu...APS1974
The key points from the document are:
1. The Companies Act, 2013 defines key managerial personnel as the CEO, managing director, whole-time director, company secretary, and chief financial officer of a company.
2. Appointment of managing director, whole-time director or manager requires board approval, shareholder approval, and in some cases government approval. The maximum term is 5 years.
3. Companies meeting certain criteria must appoint a CEO/manager, company secretary, and chief financial officer as whole-time key managerial personnel.
This document is a notice from MRF Limited regarding their 60th Annual General Meeting to be held on August 12, 2021 through video conferencing. It provides details such as the agenda items to be discussed, including adoption of financial statements and declaration of dividend. It also provides instructions to shareholders regarding remote e-voting and participation in the AGM through video conference. Details such as cut-off date for e-voting and dates of book closure are also mentioned.
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TATA Power Annual Report for Year 2011-2013
1.
2. CONTENTS
AGM Notice 04
Director’s Report 10
Management Discussion and Analysis 14
Auditors’Report 16
Balance Sheet 20
Profit and Loss Account 21
Cash Flow Statement 22
Schedules forming part of Balance Sheet 23
3.
4.
5.
6.
7. 05AGM Notice
Notes
a) A member entitiled to attend and vote is entitiled to appoint a proxy to attend and vote instead of himself and a
proxy need not be a member.
b) Proxies, in order to be effective, must be received at the Registered Office of the Company, not less than 48 hours
before the commencement of the Annual General Meeting.
c) An Explanatory Statement pursuant to Section 173 of the Companies Act, 1956 relating to the special business to
be transacted at the Annual General Meeting is annexed hereto
d) Corporate Members intending to send their authorized representatives to attend the meeting are requested to
send a certified copy of the Board Resolution authorising their representative to attend and vote on their behalf
at the Meeting.
e) In case of joint holders attending the Meeting, only such joint holder who is higher in the order of names will be
entitled to vote.
f) All the documents referred to in the accompanying notice and explanatory statement are available for inspection
at the Registered Office of the Company on all the working days between 11:00 a.m. to 1:00 p.m. upto the date of
the Annual General Meeting.
By Order of the Board of Directors,
T. N. RAMAKRISHNAN, Company Secretary
Mumbai, 14th May 2012
Registered Office : Carnac Receiving Station, 34, Sant Tukaram Road, Carnac Bunder, Mumbai 400 009
Explanatory Statement
As required by Section 173 of the Companies Act, 1956 (the Act), the following Explanatory Statement sets out all
material facts relating to the business mentioned under Item Nos. 6, 7, 8 and 9 of the accompanying Notice dated
14.05.2012
Item Nos. 6, 7 & 8:
Mr. Sanjeev Mehra was appointed as Additional Director of the Company by the Board of Directors effective from
September 02, 2011. Mr. Ramesh Subramanyam and Mr. Arun Srivastava were appointed as Additional Directors of the
Company by the Board of Directors effective from May 07, 2012. By virtue of Section 260 of the Companies Act, 1956
Mr. Sanjeev Mehra, Mr. Ramesh Subramanyam and Mr. Arun Srivastava will hold office upto the date of the ensuing
Annual General Meeting and are eligible for appointment. The Company has received notice under Section 257 of the
Companies Act, 1956 alongwith requisite deposit from a member of the Company proposing their candidature for the
office of Director.
The Board commends your approval to the said appointment.
Mr. Sanjeev Mehra, Mr. Ramesh Subramanyam and Mr. Arun Srivastava are concerned or interested in the respective
resolution for their appointment as Directors of the Company.
Item No. 9:
The Board of Directors of the Company had by a resolution passed on 02nd September, 2011 appointed Mr. Sanjeev
Mehra as Managing Director of the company for a period of three years with effect from 2nd September 2011 to 01st
September, 2014 subject to the approval of the Members at the general meeting of the Company.
The material terms of the Agreement dated 03.02.2012 entered into by the Company with Mr. Sanjeev Mehra for the
said appointment referred to in the Resolution at Item No. 9 of the accompanying Notice are as follows:-
8.
9. 07AGM Notice
Other Terms:
1. The eligibility of the above Perquisites and Benefits will be as per Tata Power’s existing rules and regulations in
force and as amended, altered or modified from time to time.
2. Monthly and Annual Perquisites and Benefits will not be reckoned for any other benefit or remuneration or
payment whatsoever including Provident Fund contribution, Superannuation Fund contribution and Gratuity etc.
3. Consolidated Salary and Monthly and Annual Perquisites and Benefits, shall be proportionately deducted on
account of absence without leave or authorized absence on loss of pay for any reason.
4. Consolidated Salary, Perquisites and other Benefits will be payable subject to applicable taxes.
5. The Managing Director shall abide by the Tata Code of Conduct during his term.
6. Either party shall be entitled to terminate the Agreement by giving the other party not less than six months notice.
7. Mr. Sanjeev Mehra shall devote the whole of time to the business of the Company and do his utmost to advance
its interest and shall exercise all his powers subject to the superintendence and control of the Board of Directors
of the Company.
8. Mr. Sanjeev Mehra shall perform such duties and exercise such powers as may be from time to time delegated to
him by the Board of Directors of the Company.
9. Mr. Sanjeev Mehra during the currency of the Agreement shall not disclose or give information regarding the
affairs of the Company to any other person.
10. Mr. Sanjeev Mehra shall not after the termination of this agreement represent himself as being in any way
connected with or interested in the business of the Company.
11. The Company shall be entitled to terminate the Agreement in the event of Mr. Sanjeev Mehra found guilty of
misconduct or negligence in the discharge of his duties.
12. Mr. Sanjeev Mehra shall cease to be a Managing Director of the Company if he ceases, for whatever reason, to be
a Director of the Company.
Additional information required to be given alongwith a Notice calling General Meeting as per sub para (B) of para
1 of Section II of Part II of Schedule XIII of the Companies Act, 1956 is given hereunder:
I. General Information:
(1) Nature of industry Power Industry
(2) Date or expected date of The Company has been in the business for many years
commencement of
commercial production
(3) In case of new companies, Not Applicable
expected date of
commencement of activities
as per project approved by
financial institutions
appearing in the prospectus.
(4) Financial performance 2011-2012 2010-2011 2009-2010
basedon given indicators
(Rs. in lacs)
Turnover 192,670 193,205 226,578
Net profit (as computed 1,405 915 824
under section 198)
10.
11. 09AGM Notice
(2) Steps taken or proposed To increase the Volume of the Power Traded. Long term Power would
to be taken for start in FY-13
improvement
(3) Expected increase in FY-13 Mu 8000 .PAT- Rs. 15.25 Cr
productivity and profits
in measurable terms.
The Board is of the view that the appointment of Mr. Sanjeev Mehra as Managing Director will be beneficial for properly
guiding the company through its phase of leadership transition.
The Board commends the approval by the members for the appointment of Mr. Sanjeev Mehra as Managing Director
and payment of remuneration to him.
The above may be treated as an abstract of the terms of appointment and remuneration payable to Mr. Sanjeev Mehra,
as Managing Director as contained in the said notice pursuant to Section 302 of the Act.
Mr. Sanjeev Mehra is concerned or interested in the said Resolution at item no. 9 of the accompanying notice as it
relates to his own re-appointment.
The Agreement dated 03.02.2012 referred to in the Resolution at Item no. 9 of the accompanying Notice is open for
inspection by the members at the Registered Office of the Company between 11.00 a. m. to 1.00 p. m. on any working
day of the Company except Saturday and Sunday.
By Order of the Board of Directors,
T. N. RAMAKRISHNAN, Company Secretary
Mumbai, 14th May 2012
Registered Office : Carnac Receiving Station, 34, Sant Tukaram Road, Carnac Bunder, Mumbai 400 009
12.
13. 11AGM Notice
electricity per unit and higher Mus traded for BankingTransactionsThe Company has a CAGR of 36 % in terms of power
traded over the past 5 years.
In addition, to power trading business the Company also provided consultancy services for Energy Management, Coal
Supply Facilitation, Project Analysis and Clean Development Mechanism (CDM). The Company earned revenues of Rs.
4.04 crores from advisory services/consultancy business during the year.
Earnings per share (EPS) has increased to Rs 8.78 as against Rs. 5.72 in the previous year.
The Company’s short term credit facility from banks was rated as‘BBB+’by Fitch Rating Agency.
Dividend
The Directors of your Company are pleased to recommend a dividend of 20% ( Rs. 2 per share) on 1,60,00,000 Equity
Shares of Rs 10/- each for the approval of shareholders (FY11 dividend of Rs. 2 per share)
Directors
In accordance with the provisions of the Companies Act, 1956 and the Articles of Association of the Company, Mr. S
Ramakrishnan and Mr S Padmanabhan retire by rotation. Mr. S. Ramakrishnan and Mr. S. Padmanabhan being eligible
offer themselves for re-appointment.
Mr. Sanjeev Mehra was appointed as additional director of the company by the Board of Directors on September 02,
2011. Mr. Ramesh Subramanyam and Mr. Arun Srivastava were appointed as additional directors of the company on
May 07, 2012. By virtue of Section 260 of the Companies Act, 1956, they hold office upto the date of the ensuing Annual
General Meeting and are eligible for appointment. The Company has received notices under Section 257 of the
Companies Act, 1956 alongwith requisite deposit from members of the Company proposing their candidature for the
office of Director.
The Board has subject to approval of the members in the Annual General Meeting, appointed Mr. Sanjeev Mehra as
Managing Director of the Company for a period of three years from 02nd September, 2011 to 01st September, 2014.
Mr. Rajendra Mirji resigned as Manager with effect from 02nd September, 2011. Mr. Sunil Wadhwa had resigned from
the Board with effective from 30.03.2012. The Board placed on record its sincere appreciation of the valuable services
rendered by them.
None of the Directors of the Company is disqualified under section 274 (1) (g) of the Companies Act, 1956.
Auditors
Members are requested, as usual, to appoint Auditors for the current year and authorise the Board of Directors to fix
their remuneration. M/s. Deloitte Haskins & Sells (DHS), the present Auditors who retire at the conclusion of the
forthcoming Annual General Meeting are eligible for re-appointment and have expressed their willingness to be
re-appointed and have given a certificate to the effect that their re-appointment, if made, would be within the limits
prescribed under Section 224(1B) of the Act.
Disclosure Of Particulars
Particulars of Employees: Information in accordance with the provisions of Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, regarding employees is not
applicable as all the managers, executives and officers are employees of The Tata Power Co. Ltd. and are deputed to the
Company.
Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and
Outgo
The Company does not fall under any of the industries covered by the Companies (Disclosure of Particulars in the
Report of the Board of Directors) Rules, 1988. Hence, the requirements of disclosure in relation to Conservation of
Energy, Technology Absorption & Foreign Exchange Earnings and Outgo are not given.
During the year, the Company earned a Foreign Exchange of Rs. 44,99,836/- (Rs. 28,96,763/-) from Coal Supply
Facilitation business. The outgo during the year was Rs. 24,47,607/-(Rs. 21,68,996-) on account of implementation
Power Management System software platform.
14.
15. across the length and breadth of the country
We are dedicated to Empowering Businesses through
Partnerships for sourcing and supplying electricity
and beyond…
16.
17. 15Management Discussion & Analysis
Renewable Energy Certificates (REC)
The REC certificate trading on power exchanges was introduced by CERC during the current financial year and TPTCL is
one of the major players in this area. The Company provides advisory to Renewable Energy developers to guide them
through the process of issuance of the Renewable Energy Certificates (REC) and to facilitate the trading of RECs in the
Power Exchanges. Presently the RECs can be traded only on power exchanges and not directly by the trades. The
company is trading RECs from the generators and purchasing them for the obligated entities.
Advisory Services
The Company offers Consultancy Services to CPPs / IPPs on matters pertaining to power dispatch, scheduling,
evacuation, project formulation, operation and maintenance.The company also provides Energy billing and regulatory
advisory services to large power projects.The Company deploys its staff to provide end to end solution and also to train
the staff of the clients. The company provides the power trading and REC trading services to many of the Tata
companies including all divisions of Tata Power, Tata Steel and Tata Motors and TPDDL.
Outlook
Open Access enables consumers to procure power directly from various sources enabling consumer choice and
fostering competition in the supply business. This provides a unique opportunity for a Trading Company to supply
power at competitive rates to the consumers. Supply under open access is expected to be a major opportunity for the
company with the growth in participation from both the Supply and the Demand side. Opportunities for power trading
are expected to increase with the increase in merchant market with supply from IPPS.
Risk And Concerns
The financial condition of the distribution sector is a matter for deep concern and has increased counterparty risks
while the trading margins are reduced due to fierce competition. The cumulative defaults of the distribution
companies in power trading alone have been more than 3000 crs. Power traders with a parent company that has a
presence across the power value chain are more favorably placed because the parent can act as both buyer and seller
for the power trader, thus lowering the counterparty risk. Distribution companies (Discoms) prefer to shed load rather
than purchase power, resulting in lower off-take and dampened prices in the merchant market. It is a paradox in the
Indian market that consumers have to invest in generating expensive power using backup power equipment while
inexpensive power remains un-dispatched due to load shedding by Discoms. In addition, the unwillingness of Discoms
to allow for open access to their consumers in spite of the provisions in EA 2003 is acting as a barrier to further growth
and competition in the sector. The corridor congestion to southern region has constrained power flow to the region
thereby increasing the power rates in southern region.
The company enters into customized contracts with various counterparties including Discoms, Industrial Consumers,
as well as CPPs and IPPs. Timely settlement of disputes arising out of non adherence to contractual terms by
counterparties is a challenge. Clarity in jurisdiction and delay with respect to outcome of petitions filed in various
SERCs may also affect business performance.
18.
19. 17Management Discussion & Analysis
Annexure to the Auditors' Report (Referred to in paragraph 3 of our report of even date)
Having regard to the nature of the company’s business/activities, clauses (ii), (xiii), (xiv), and (xx) of CARO are not
applicable.
(i) In respect of its fixed assets:
(a) The company has maintained proper records showing full particulars, including quantitative details and
situation of the fixed assets.
(b) The fixed assets were physically verified during the year by the management in accordance with a regular
programme of verification which, in our opinion, provides for physical verification of all the fixed assets at
reasonable intervals. According to the information and explanation given to us, no material discrepancies
were noticed on such verification.
(c) During the year no fixed assets were disposed off by the company.
(ii) The company has neither granted nor taken any loans, secured or unsecured, to/from companies, firms or other
parties listed in the Register maintained under Section 301 of the Companies Act, 1956, and accordingly
paragraph 4 (iii) of CARO is not applicable.
(iii) In our opinion and according to the information and explanations given to us, having regard to the explanations
that some of the items purchased are of special nature and suitable alternative sources are not readily available
for obtaining comparable quotations, there is an adequate internal control system commensurate with the size
of the company and the nature of its business with regard to purchase of fixed assets and the sale of goods and
services. During the course of our audit, we have not observed any major weakness in such internal control
system.
(iv) According to the information and explanations given to us, the company has not entered into any contracts or
arrangement with parties, which needs to be entered in the register maintained under Section 301 of the
Companies Act, 1956.
(v) According to the information and explanations given to us, the company has not accepted any deposit from the
public to which the provisions of Sections 58A, 58AA or any other relevant provisions of the Companies Act,
1956, or the Companies (Acceptance of Deposits) Rules, 1975 apply.
(vi) In our opinion, the internal audit function carried out during the year by a firm of Chartered Accountants
appointed by the management have been commensurate with the size of the company and nature of its
business.
(vii) As informed to us by the management, the Central Government has not prescribed maintenance of cost records
for any of the product of the company pursuant to the Companies (Cost Accounting Records) Rules, 2011 under
Section 209(1)(d) of the Companies Act, 1956.
(viii) According to the information and explanations given to us in respect of statutory dues:
(a) The company has generally been regular in depositing undisputed dues, including Income-tax, Sales Tax,
Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other material statutory dues applicable to it
with the appropriate authorities.
(b) There were no undisputed amounts payable in respect of Income-tax, Wealth Tax, Custom Duty, Excise Duty,
Cess and other material statutory dues in arrears as at 31st March, 2012 for a period of more than 6 months
from the date they became payable.
(c) Details of unpaid disputed amounts payable in respect of Income-tax, Sales Tax, Wealth Tax, Service Tax,
Custom Duty, Excise Duty and Cess as at 31st March, 2012 are given below:
Name of Nature of Amount Period to which the Forum where dispute is
the statute the dues (In `) amount relates pending
Income Tax Act, 1961 Income Tax 168,273 Financial Year – 2007-08 Deputy Commissioner of Income Tax
20.
21. We are uniquely positioned to undersrand
your business needs due to our association
with our parent company which has
presence in all the segments of power
sector spanning Generation, Transmission,
Distribution, with capacities in Thermal,
hydro and Renewable energy space.
22. Balance Sheet as at 31st March, 2012
Notes 31st March 2012 31st March 2011
` `
Equity And Liabilities
Shareholders' Funds
Share Capital 3 160,000,000 160,000,000
Reserves and Surplus 4 556,248,060 452,907,054
716,248,060 612,907,054
Current Liabilities
Trade Payables (Refer Note 18) 490,209,032 1,083,071,602
Other Current Liabilities 5 121,259,330 62,316,874
Short-term Provisions 6 42,035,934 42,780,736
653,504,296 1,188,169,212
Total 1,369,752,356 1,801,076,266
Assets
Non-Current Assets
Fixed Assets
Tangible Assets 7 6,060,164 5,650,192
Intangible Assets 7 3,580,452 9,718,370
9,640,616 15,368,562
Non-current Investments 8 25,000,000 25,000,000
Deferred Tax Assets (net) 9 48,685,200 39,369,000
Long-term Loans and Advances 10 5,558,561 2,663,621
88,884,377 82,401,183
Current Assets
Trade Receivables 11 825,834,379 998,706,453
Cash and Cash Equivalents 12 357,659,254 636,689,627
Short-term Loans and Advances 13 97,374,346 83,279,003
1,280,867,979 1,718,675,083
Total 1,369,752,356 1,801,076,266
The accompanying notes are an integral part
of the financial statements.
In terms of our report attached.
For Deloitte Haskins & Sells R. A. BANGA
Chartered Accountants Partner Mumbai, 14th May, 2012.
For and on behalf of the Board
S. Ramakrishnan Sanjeev Mehra T. N. Ramakrishnan
Chairman Managing Director Secretary Mumbai, 14th May, 2012.
20 Balance Sheet as at 31st March, 2012
23. 21Profit & Loss Account for the year ended 31st March, 2012
Notes 31st March 2012 31st March 2011
` `
Revenue from Operations 14 19,267,016,269 19,320,549,052
Other Income 15 15,414,045 37,357,941
Total Revenue 19,282,430,314 19,357,906,993
Expenses
Cost of power purchased 19,187,737,193 19,289,540,460
Less : cash discount earned (281,167,298) (275,039,048)
18,906,569,895 19,014,501,412
Compensation Expenses /
(Income) (Net)
Compensation Incurred 72,959,960 236,276,804
Less: Compensation Earned (72,959,960) (223,705,604)
- 12,571,200
Finance costs 16 9,961,246 647,112
Depreciation and amortization
expense 7 7,215,673 7,209,124
Other expenses 17 160,125,283 198,454,442
Total Expenses 19,083,872,097 19,233,383,290
Profit Before Tax 198,558,217 124,523,703
Tax expenses
Current tax expense for
current year 70,000,000 63,000,000
Current tax expense relating
to prior years (2,657,789) 2,002,000
Net current tax expense 67,342,211 65,002,000
Deferred tax (9,316,200) (31,941,700)
Total Tax expense 58,026,011 33,060,300
Profit for the year 140,532,206 91,463,403
Basic and Diluted Earnings Per Share (In `)
(Face value ` 10/- per share) 8.78 5.72
The accompanying notes are an integral part of the financial statements.
In terms of our report attached.
For Deloitte Haskins & Sells R. A. BANGA
Chartered Accountants Partner Mumbai, 14th May, 2012.
For and on behalf of the Board
S. Ramakrishnan Sanjeev Mehra T. N. Ramakrishnan
Chairman Managing Director Secretary Mumbai, 14th May, 2012.
Statement of Profit and Loss
for the year ended 31st March, 2012
24. Cash Flow Statement
for the year ended 31st March, 2012
22 Cash Flow Statement for the year ended 31st March, 2012
Year ended Year ended
31st March 2012 31st March 2011
` `
A. Cash flow from operating activities
Profit before taxes 198,558,217 124,523,703
Adjustments for:
Depreciation / Amortisation 7,215,673 7,209,124
Interest expenditure 9,961,246 647,112
Interest income (15,444) -
Dividend income (15,398,601) (26,750,687)
Provision for doubtful trade
receivables and advances 27,770,819 96,389,609
Loss on fixed assets sold (net) - 434,417
29,533,693 77,929,575
Operating profit before working
capital changes 228,091,910 202,453,278
Adjustments for:
Trade receivables 150,733,705 57,130,748
Short-term loans and advances (19,727,793) (36,068,305)
Trade payables (592,862,570) (240,572,944)
Other current liabilities 58,942,456 25,798,440
(402,914,202) (193,712,061)
Cash (used in) / generated
from operations (174,822,292) 8,741,217
Taxes paid (70,858,353) (64,512,745)
Net cash used in operating
activities A (245,680,645) (55,771,528)
B. Cash flow from investing activities
Purchase of fixed assets (1,487,727) (2,252,014)
Sale of fixed assets - 325,111
Purchase of current investments (12,424,957,321) (17,614,114,986)
Sale of current investments 12,424,957,321 17,615,449,739
Interest received 15,444 -
Dividend received 15,398,601 26,750,687
13,926,318 26,158,537
Net cash from investing activities B 13,926,318 26,158,537
C. Cash flow from financing activities
Proceeds from short-term
borrowings 200,000,000 -
Repayment of short-term
borrowings (200,000,000) -
Interest paid (9,961,246) (647,112)
Dividend paid (32,000,000) (4,000,000)
Additional income-tax on
dividend paid (5,314,800) (2,515,260)
(47,276,046) (7,162,372)
Net cash used in financing activities C (47,276,046) (7,162,372)
Net decrease in cash and cash equivalents
(A+B+C) (279,030,373) (36,775,363)
Cash and cash equivalents as at
1st April, 2011, 2010 (Opening Balance) 636,689,627 673,464,990
Cash and cash equivalents as at
31st March, 2012, 2011 (Closing Balance)
(Refer Note 12) 357,659,254 636,689,627
In terms of our report attached.
For Deloitte Haskins & Sells R. A. BANGA
Chartered Accountants Partner Mumbai, 14th May, 2012.
For and on behalf of the Board
S. Ramakrishnan Sanjeev Mehra T. N. Ramakrishnan
Chairman Managing Director Secretary Mumbai, 14th May, 2012.
25. Schedules forming part of the Balance Sheet as at 31st March, 2012
23Schedules forming part of the Balance Sheet as at 31st March, 2012
31st March 2012 31st March 2012 31st March 2011 31st March 2011
Nos. ` Nos. `
Note 3 Share Capital
Authorized
Equity shares of `10/- each 20,000,000 200,000,000 20,000,000 200,000,000
6% Non cumulative Redeemable
preference shares of `10/- each 18,000,000 180,000,000 18,000,000 180,000,000
38,000,000 380,000,000 38,000,000 380,000,000
Issued, subscribed and fully paid-up
Equity shares of `10/- each fully paid 16,000,000 160,000,000 16,000,000 160,000,000
Total issued, subscribed and fully
paid-up share capital 16,000,000 160,000,000 16,000,000 160,000,000
a. Reconciliation of the shares
outstanding at the beginning and at
the end of the reporting period
Equity shares
31st March 2012 31st March 2011
Nos. ` Nos. `
At the beginning and at the end
of the period 16,000,000 160,000,000 16,000,000 160,000,000
b. Terms/rights attached to equity shares
The company has issued only one class of equity shares having a par value of ` 10/- per share. Each holder of
equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting. The Company declares and pays dividend
in Indian Rupees.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining
assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders.
During the year ended 31st March 2012, the amount of per share dividend recognized as distribution to equity
shareholders was ` 2 (31st March 2011 : ` 2).
c. Shares held by holding company
Out of equity shares issued by the company, shares held by its holding company are as below:
31st March 2012 31st March 2012 31st March 2011 31st March 2011
Nos. ` Nos. `
The Tata Power Company Limited,
the holding company
Equity shares of `10 each fully paid 16,000,000 160,000,000 16,000,000 160,000,000
d. Details of shares held by each
shareholders holding more than
5% shares
26. 24 Schedules forming part of the Balance Sheet as at 31st March, 2012
31st March 2012 31st March 2011
Nos. % holding in Nos. % holding in
the class the class
Equity shares of `10 each fully paid
The Tata Power Company Limited,
holding company 16,000,000 100% 16,000,000 100%
Note 4 Reserves and Surplus
31st March 2012 31st March 2011
` `
Securities Premium Account
Opening and closing balance 208,950,000 208,950,000
General Reserve
Opening balance 27,500,000 20,500,000
Add: Amount transferred from
Surplus in
Statement of Profit and Loss 11,000,000 7,000,000
Closing Balance 38,500,000 27,500,000
Surplus in Statement of
Profit and Loss
Opening balance 216,457,054 169,308,451
Add : Profit for the year 140,532,206 91,463,403
Less : Proposed Dividend
(amount per share ` 2
(31st March 2011 - ` 2)) 32,000,000 32,000,000
Additional Income-tax on proposed
Dividend 5,191,200 5,314,800
Transfer to General Reserve 11,000,000 7,000,000
Closing Surplus in Statement
of Profit and Loss 308,798,060 216,457,054
Total Reserves and Surplus 556,248,060 452,907,054
Note 5 Other Current Liabilities
31st March 2012 31st March 2011
` `
Advances from customers 58,945,392 17,628,811
Security deposits from customers 35,941,140 3,935,000
Statutory Liabilities
- Service Tax payable 56,542 478,950
- TDS payable 13,645,050 15,239,938
Security deposits from vendors 5,056,995 5,056,995
Other liabilities 7,614,211 19,977,180
121,259,330 62,316,874
Schedules forming part of the Balance Sheet as at 31st March, 2012
27. Schedules forming part of the Balance Sheet as at 31st March, 2012
Note 7 Fixed Assets `
Gross Block Accumulated Depreciation
Tangible Assets As at Additions Deductions As at As at For the year Deductions As at As at As at
01-04-2011 31-03-2012 01-04-2011 31-03-2012 31-03-2012 31-03-2011
Plant And Equipment 3,022,817 520,653 - 3,543,470 1,054,136 519,529 - 1,573,665 1,969,805 1,968,681
Furniture And Fixtures 2,606,261 967,074 - 3,573,335 1,214,575 186,916 - 1,401,491 2,171,844 1,391,686
Office Equipments 1,019,534 - - 1,019,534 39,445 226,208 - 265,653 753,881 980,089
Vehicles 1,527,389 - - 1,527,389 217,653 145,102 - 362,755 1,164,634 1,309,736
Total- 2011-2012 8,176,001 1,487,727 - 9,663,728 2,525,809 1,077,755 - 3,603,564 6,060,164 5,650,192
- 2010-2011 7,288,408 2,252,014 1,364,421 8,176,001 2,059,496 1,071,206 604,893 2,525,809 5,650,192
Intangible Assets As at Additions Deductions As at As at For the ye ar Deductions As at As at As at
01-04-2011 31-03-2012 01-04-2011 31-03-2012 31-03-2012 31-03-2011
Computer Software 20,459,726 - - 20,459,726 10,741,356 6,137,918 - 16,879,274 3,580,452 9,718,370
Total- 2011-2012 20,459,726 - - 20,459,726 10,741,356 6,137,918 - 16,879,274 3,580,452 9,718,370
- 2010-2011 20,459,726 - - 20,459,726 4,603,438 6,137,918 - 10,741,356 9,718,370
Gross Block Accumulated Amortisation Net Block
25Schedules forming part of the Balance Sheet as at 31st March, 2012
Note 6 Short-term Provisions
31st March 2012 31st March 2011
` `
Other Provisions
Provision for Tax (net of advance tax
` 65,155,266/- (as at 31st March, 2011
- ` 97,334,065/-)) 4,844,734 5,465,936
Proposed Equity Dividend 32,000,000 32,000,000
Provision for Tax on Proposed
Equity Dividend 5,191,200 5,314,800
42,035,934 42,780,736
42,035,934 42,780,736
28. 26 Schedules forming part of the Balance Sheet as at 31st March, 2012
Schedules forming part of the Balance Sheet as at 31st March, 2012
Note 8 Non-Current Investments
31st March 2012 31st March 2011
` `
Trade investments (valued at cost less diminution,
other than temporary, if any)
Equity Shares (Unquoted)
25,00,000 (31st March 2011 - 25,00,000) shares of ` 10
each fully paid-up in Power Exchange India Limited 25,000,000 25,000,000
25,000,000 25,000,000
Note 9 Deferred Tax Assets (Net)
31st March 2012 31st March 2011
` `
Deferred Tax Liability
Relating to fixed assets 1,056,500 2,335,400
Total 1,056,500 2,335,400
Deferred Tax Assets
Provision for doubtful trade receivables and advances 49,741,700 41,704,400
Total 49,741,700 41,704,400
Deferred Tax Assets (Net) 48,685,200 39,369,000
Note 10 Long Term Loans and Advances
31st March 2012 31st March 2011
` `
Unsecured, considered good
Advance income-tax (net of provisions
` 134,893,083/- (as at 31st March, 2011 - ` 93,464,923/-)) 5,558,561 2,663,621
5,558,561 2,663,621
Note 11 Trade Receivables
Current
31st March 2012 31st March 2011
` `
Outstanding for a period exceeding six months from
the date they are due for payment
Unsecured, considered good 126,285,034 23,956,563
Doubtful 124,441,595 98,671,668
250,726,629 122,628,231
Less : Provision for doubtful trade receivables (124,441,595) (98,671,668)
126,285,034 23,956,563
Other Receivables
Secured, considered good 9,517,542 -
Unsecured,considered good 690,031,803 974,749,890
Doubtful 17,126,554 20,758,112
716,675,899 995,508,002
Less : Provision for doubtful trade receivables (17,126,554) (20,758,112)
699,549,345 974,749,890
Total 825,834,379 998,706,453
29. 27Schedules forming part of the Balance Sheet as at 31st March, 2012
Note 12 Cash and Cash Equivalents
31st March 2012 31st March 2011
` `
Balances with banks :
In Current Accounts 357,659,254 636,689,627
357,659,254 636,689,627
Of the above, the balances that meet the definiton
of Cash and cash equivalents as per AS 3 Cash Flow
Statements 357,659,254 636,689,627
Note 13 Short-term Loans and Advances
31st March 2012 31st March 2011
` `
Security Deposits
Unsecured,considered good 80,081,604 59,535,564
Doubtful 6,500,000 -
86,581,604 59,535,564
Provision for doubtful deposits (6,500,000) -
80,081,604 59,535,564
Other Loans and Advances
Unsecured - Considered good 17,292,742 23,743,439
Doubtful 5,242,603 6,110,153
22,535,345 29,853,592
Less: Provision for doubtful advances (5,242,603) (6,110,153)
17,292,742 23,743,439
Total 97,374,346 83,279,003
Note 14 Revenue from Operations
31st March 2012 31st March 2011
` `
Revenue from Operations
Sale of products (traded goods)
Revenue from Power Supply 19,440,344,201 19,512,696,138
Less : Cash discount allowed 233,615,521 214,349,080
19,206,728,680 19,298,347,058
Sale of services
Revenue from Power Banking Sale 19,916,552 3,903,271
Income from Advisory Services 38,201,257 18,298,723
Income from other services 2,169,780 -
60,287,589 22,201,994
Total 19,267,016,269 19,320,549,052
Note 15 Other Income
31st March 2012 31st March 2011
` `
Interest Income on Income tax refund 15,444 -
Dividends from Current Investments 15,398,601 26,750,687
Liability written back - 10,607,254
15,414,045 37,357,941
Schedules forming part of the Balance Sheet as at 31st March, 2012
30. 28 Schedules forming part of the Balance Sheet as at 31st March, 2012
Note 16 Finance Costs
31st March 2012 31st March 2011
` `
Interest on Short Term Borrowings 9,132,026 123,010
Interest paid to supplier - Holding company 829,220 -
Interest on delayed payment of Advance Tax - 524,102
9,961,246 647,112
Note 17 Other Expenses
31st March 2012 31st March 2011
` `
Stores, Oil etc. consumed 122 10,602
Rent 9,428,284 7,161,997
Insurance 68,163 43,426
Repairs and maintenance
Buildings 103,581 429,260
Others 181,076 206,557
Other Operation Expenses 21,940,084 20,118,386
Cost of Services 56,695,243 38,249,412
Tata Brand Equity 11,909,941 7,743,966
Payment to auditor (Refer details below) 2,192,115 1,870,688
Loss / (Gain) on foreign currency transactions
and translation (Net) 9,104 (41,560)
Legal and professional charges 7,616,479 9,631,909
Consultants fees 16,486,572 13,057,464
Miscellaneous expenses 5,723,700 3,148,309
Provision for doubtful trade receivables and advances 27,770,819 96,389,609
Loss on fixed assets sold (net) - 434,417
160,125,283 198,454,442
Payment to the auditors comprises (inclusive of service tax):
31 March 2012 31 March 2011
` `
As auditors - statutory audit 1,348,320 1,103,000
For taxation matters 165,450 165,450
For other services 678,345 602,238
2,192,115 1,870,688
Schedules forming part of the Balance Sheet as at 31st March, 2012