Information Manual - Oil India Limited

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CHAPTER-III PROCEDURES FOLLOWED IN THE DECISION-MAKING PROCESS, INCLUDING CHANNELS OF SUPERVISION AND ACCOUNTABILITY The decisions making process of the Company follows the following Channel BOARD OF DIRECTORS FUNCTIONAL DIRECTORS EXECUTIVES Overall management of the Company is vested with the Board of Directors of the Company. The Board of Directors is the highest decision making body within the Company. As per the provisions of the Companies Act, 1956 certain matters require the approval of the shareholders of the Company in General Meeting. Similarly, in terms of the guidelines of Department of Public Enterprises certain matters require the approval of the Government of India. The Board of Directors is accountable to the shareholders of the Company, which is the ultimate authority of a Company. OIL being a Public Sector Enterprise (PSE), the Board of Directors of the Company is also accountable to Government of India. The powers, which are not delegated are exercised by the Board of Directors subject to the restrictions and provisions of the Companies Act, 1956. Page 5
CHAPTER-IV THE NORMS SET FOR DISCHARGE OF FUNCTIONS The Company has well defined procedures and guidelines for discharge of various functions. These are highlighted below: 1) Delegation of Powers: The officers of the Company at various levels discharge their functions & responsibilities within the powers delegated to them by the Board of Directors under Delegation of Powers. 2) Laid down Policies and Guidelines: OIL is having laid down policies and guidelines governing major activities of the Company. While discharging the functions the officers need to follow these laid down policies and guidelines. 3) Manuals OIL has procedural manuals covering all important activities viz Purchase Manual, Stores & Inventory Manual, Contract Manual, Marketing Manual, Accounts Manual and Operational Manuals. These Manuals ensure carrying of activities in a systematic and standardised manner and eliminate the scope of exercise of discretion. While discharging the functions covered by these Manuals, the officers need to follow the provisions of these Manuals. 4) Guidelines of Department of Public Enterprises OIL being a PSU follows the guidelines of Department of Public Enterprises and directives of Government of India issued from time to time. 5) Guidelines of Chief Vigilance Commission OIL being a PSU follows the guidelines of Chief Vigilance Commission (CVC). 6) Listing requirement OIL being an unlisted company is not required to comply with the provisions of listing agreement with the stock exchanges and rules and regulations of SEBI. 7) Compliance of provisions of Statutes, etc. While discharging the respective functions, officers are required to comply with the applicable provisions of Indian Constitution, Statues and Rules & Regulations. Page 6
Page 1 and 2: INFORMATION MANUAL (PURSUANT TO SEC
Page 3 and 4: CHAPTER PARTICULARS PAGE NO. CHAPTE
Page 5 and 6: Functions/Operations & duties OIL i
Page 7: CHAPTER-II POWERS & DUTIES OF OFFIC
Page 11 and 12: F) Human Resources Development i) T
Page 13 and 14: G) Documents pertaining to payment
Page 15 and 16: CHAPTER-VIII STATEMENT ON THE BOARD
Page 17 and 18: CHAPTER-IX DIRECTORY OF OFFICERS &
Page 19 and 20: TAPADAR ABDUL HANNAN HEAD - PL PROJ
Page 21 and 22: SARMAH BENOY KUMAR CHIEF ENGINEER(P
Page 23 and 24: CHAPTER- XI BUDGET ALLOCATION AND E
Page 25 and 26: CHAPTER- XIII PARTICULARS OF RECIPI
Page 27 and 28: CHAPTER-XV PARTICULARS OF FACILITIE

Information Manual - Oil India Limited

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