Annual Report 2008-2009 - Bharat Petroleum

More documents

Recommendations

Info

Details of remuneration paid/payable to the Whole-time Directors during the financial year 2008-09 are as follows: Names of Directors Shri Ashok Sinha Chairman & Managing Director Shri S.A. Narayan* Director (Human Resources) Shri S. Radhakrishnan Director (Marketing) Shri S.K. Joshi Director (Finance) Shri R.K. Singh Director (Refineries) Shri S. Mohan Director (Human Resources) All elements of remuneration packages of the Directors. i.e. salary, benefits, bonus, pension etc. Rs. Details of fixed component and performance linked incentives Rs. 21,73,041 Fixed compensation Rs. 10,51,147 PI / PLIS Rs. 4,81,815 Recoverable advance and 6% Notional benefit on basic: Rs. 1,50,000 19,97,851 Fixed compensation Rs. 2,27,891 PI / PLIS Rs. 4,56,606 Recoverable advance and 6% Notional benefit on basic: Rs. 63,535 19,98,531 Fixed compensation Rs. 10,55,820 PI / PLIS Rs. 4,60,427 Recoverable advance and 6% Notional benefit on basic: Rs. 1,66,977 19,31,540 Fixed compensation Rs. 10,00,639 PI / PLIS Rs. 4,39,487 Recoverable advance and 6% Notional benefit on basic: Rs. 3,08,900 32,32,735 Fixed compensation Rs. 10,00,639 PI / PLIS Rs. 4,39,487 Recoverable advance and 6% Notional benefit on basic: Rs. 3,08,900 18,14,682 Fixed compensation Rs. 7,30,933 PI / PLIS Rs. 3,98,228 Recoverable advance and 6% Notional benefit on basic: Rs. 2,67,650 Other Benefits Rs. 4,90,079 12,49,819 3,15,307 1,82,514 14,83,709 4,17,871 * laid down the office of Director (Human Resources) with effect from 9.6.2008. PI : Productivity Incentive PLIS : Performance Linked Incentive Scheme Service Contracts : Five years / till extension or until further orders, whichever is earlier. It is renewable for further periods Notice period : Three months BPCL has not introduced any Stock Options Scheme. None of the Non-Executive Directors hold any share in BPCL. During the year, the Part-time (Independent) Directors received sitting fees for attending the meetings of the Board/Committees as follows: Name of Director Amount (Rs.) Shri V.D. Gupta 30,000 Shri P.C. Sen 20,000 Prof. A.H. Kalro 4,20,000 Prof. N. Venkiteswaran 3,00,000 Prof. S.K. Barua 3,30,000 Smt R. Bijapurkar 1,10,000 52 Bharat Petroleum Corporation Limited
5) Investors’ Grievance Committee The Committee, comprising Prof. A.H. Kalro, Director, and Shri S.K. Joshi, Director (Finance), monitors the Shareholders’/Investors’ complaints and redressal of their grievances. The Committee, at its meeting held on 29th January, 2009, reviewed the services rendered to the Shareholders/Investors including response to complaints/ communications and expressed its satisfaction on the performance of the Investor Relations Department of the Company. The Company Secretary acts as the Compliance Officer for matters related to investor relations. During the year, 7 complaints were received from investors through SEBI, BSE, Registrar of Companies, which were attended to and resolved on priority basis. All valid share transfer requests received during the year were duly processed and approved within the stipulated period of 30 days. There was no share transfer request in physical form pending as on 31st March, 2009. 6) Annual General Meetings during the last three years The details of these meetings are given below : 53rd Annual General Meeting 54th Annual General Meeting 55th Annual General Meeting Date and Time of the Meeting 18th December, 2006 at 10.30 a.m. 19th September, 2007 at 10.30 a.m. 22nd September, 2008 at 10.30 a.m. Venue Y.B. Chavan Auditorium, Yeshwantrao Chavan Pratishthan, General Jagannath Bhosale Marg, Mumbai-400 021 Y.B. Chavan Auditorium, Yeshwantrao Chavan Pratishthan, General Jagannath Bhosale Marg, Mumbai-400 021 Y.B. Chavan Auditorium, Yeshwantrao Chavan Pratishthan, General Jagannath Bhosale Marg, Mumbai-400 021 During the year 2008-09, in accordance with Section 192A of the Companies Act, 1956, read with Companies (Passing of Resolution by Postal Ballot) Rules, 2001, Postal Ballot Notice dated 7th July, 2008 containing Special Resolution for amendment of Object Clause of the Company’s Memorandum of Association by inclusion of certain new Objects under Section 17(1) of the Act and for commencement of new business under Section 149(2A) of the Act, was circulated to the Shareholders of the Company. The Company appointed Shri B.V. Dholakia, a Practising Company Secretary, M/s. Dholakia & Associates, Mumbai, as Scrutinizer for conducting the Postal Ballot process. Out of a total of 4042 ballots received for 250947095 number of equity shares, 539 ballots for 83173 equity shares representing 0.03% were invalid, 3446 ballots for 250856139 equity shares representing 99.97% of votes received, voted in favour of the resolution, 57 ballots for 7783 shares representing 0.00% dissented to the resolution. The Special Resolution was accordingly passed by the requisite majority. The results of the Postal Ballot were announced on 22nd August, 2008. The procedure prescribed under Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 has been followed for the Postal Ballot conducted during the year for the resolution mentioned above. No Special Resolution is proposed to be passed through postal ballot at the AGM. The Special Resolution for fixation of the remuneration of the Statutory Auditors was approved by the Shareholders at the Annual General Meeting held on 18th December, 2006. 6A) Brief Resumes of Directors seeking appointment/re-appointment 1) Prof. N. Venkiteswaran Prof. N. Venkiteswaran is a Chartered Accountant, Gold medallist in the postgraduate management accountancy examination conducted by ICAI and Graduate in Economics from Madurai (Kamaraj) University. Presently, he is a Professor in Indian Institute of Management, Ahmedabad. He has extensive experience of about 15 years in the finance, accounting and business planning functions in well known companies. He is also a Director on the Boards of Dalton Capital Advisors India P. Ltd., Asit C Mehta Investment Intermediates Ltd. and Virgo Engineers Ltd. Prof. N. Venkiteswaran was appointed as Additional Director w.e.f. 16th July, 2007, Annual Report 2008-2009 53
Page 7 and 8: management team Ms. I. Sasikala Mr.
Page 9 and 10: ) To all Members in respect of shar
Page 11 and 12: Company Performance During the year
Page 13 and 14: Limited (OOCL), is setting up a 6 M
Page 15 and 16: agitation lasted for 1 ½ days. Ext
Page 17 and 18: Bharat PetroResources Limited (BPRL
Page 19 and 20: in the Singapore market, as well as
Page 21 and 22: 2,000 1,800 1,600 PAT ROCE 9.76 12
Page 23 and 24: Annual Report 2008-2009 21
Page 25 and 26: per the provisional figures release
Page 27 and 28: BPCL has been an early mover in the
Page 29 and 30: value for BPCL. Attention is also b
Page 31 and 32: got enrolled in this initiative and
Page 33 and 34: year. An unique program on Workplac
Page 35 and 36: has been conferred the award for th
Page 37 and 38: ANNEXURE TO THE DIRECTORS‘ REPORT
Page 39 and 40: The following awards related to the
Page 41 and 42: FORM A FORM FOR DISCLOSURE OF PARTI
Page 43 and 44: FORM B FORM FOR DISCLOSURE OF PARTI
Page 45 and 46: 4) Expenditure on R&D during 2008-0
Page 47 and 48: d) Introduction of Auxiliary Firing
Page 49 and 50: Particulars of Directors including
Page 51 and 52: Names of the Directors Academic Qua
Page 53: 10) Discussing with the Statutory A
Page 57 and 58: The Chairman & Managing Director an
Page 59 and 60: Share Transfer System Distribution
Page 61 and 62: Annexure II Annexure III DISTRIBUTI
Page 63 and 64: AUDITOR’S CERTIFICATE ON CORPORAT
Page 65 and 66: Sr. No. Name Qualification Age Desi
Page 67 and 68: Sr. No. Name Qualification Age Desi
Page 69 and 70: ANNUAL STATEMENT SHOWING THE REPRES
Page 71 and 72: ANNEXURE TO THE DIRECTORS’ REPORT
Page 73 and 74: 1997-98 1996-97 1995-96 1994-95 199
Page 75 and 76: 1997-98 1996-97 1995-96 1994-95 199
Page 77 and 78: 1996-97 1995-96 1994-95 1993-94 199
Page 79 and 80: PRODUCTION (‘000 MT) 2008-09 2007
Page 81 and 82: AUDITOR’S REPORT TO THE MEMBERS O
Page 83 and 84: (v) In respect of transactions ente
Page 85 and 86: CONSOLIDATED SUMMARY Annexure 1 (Am
Page 87 and 88: PROFIT AND LOSS ACCOUNT FOR THE YEA
Page 89 and 90: SCHEDULE ‘C’ - LOAN FUNDS Secur
Page 91 and 92: SCHEDULE ‘E’ - CAPITAL WORK-IN-
Page 93 and 94: SCHEDULE ‘F’ - INVESTMENTS (CON
Page 95 and 96: SCHEDULE ‘FA’ - ADVANCE FOR INV
Page 97 and 98: SCHEDULE ‘K’ - LOANS AND ADVANC
Page 99 and 100: SCHEDULE ‘N’ - SALE OF PRODUCTS
Page 101 and 102: SCHEDULE ‘V’ - OTHER OPERATING
Page 103 and 104: SCHEDULE ‘X’ - (CONTD.) 6.1.2.
Page 105 and 106:
SCHEDULE ‘X’ - (CONTD.) B. NOTE
Page 107 and 108:
SCHEDULE ‘X’ - (CONTD.) Disclos
Page 109 and 110:
SCHEDULE ‘X’ - (CONTD.) Key Man
Page 111 and 112:
SCHEDULE ‘X’ - (CONTD.) 19) INT
Page 113 and 114:
SCHEDULE ‘X’ - (CONTD.) 22.2 Th
Page 115 and 116:
SCHEDULE ‘X’ - (CONTD.) 27) Fin
Page 117 and 118:
SCHEDULE ‘X’ - (CONTD.) 33) Pro
Page 119 and 120:
CASH FLOW STATEMENT For the year en
Page 121 and 122:
CASH FLOW STATEMENT (CONTD.) 2008 2
Page 123 and 124:
AUDITOR’S REPORT ON CONSOLIDATED
Page 125 and 126:
CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 127 and 128:
SCHEDULE ‘C’ - LOAN FUNDS (CONS
Page 129 and 130:
SCHEDULE ‘E’ - CAPITAL WORK-IN-
Page 131 and 132:
SCHEDULE ‘G’ - INVENTORIES (CON
Page 133 and 134:
SCHEDULE ‘K’ - LOANS AND ADVANC
Page 135 and 136:
SCHEDULE ‘O’ - MISCELLANEOUS IN
Page 137 and 138:
SCHEDULE ‘V’ - OTHER OPERATING
Page 139 and 140:
SCHEDULE ‘X’ - (CONSOLIDATED) (
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
CASH FLOW STATEMENT (CONSOLIDATED)
Page 157 and 158:
ANNEXURE TO THE DIRECTORS’ REPORT
show all

Annual Report 2008-2009 - Bharat Petroleum

Create successful ePaper yourself

Delete template?

Save as template?