100th Annual Report 2006-2007 - Tata Steel

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Hundredth annual report 2006-07 Name, designation & address of Name, designation & address of Compliance Officer : Investor Relations Officer : Mr. J. C. Bham Mr. Sanjay Khattry Company Secretary Head (Financial Planning & Investor Relations) Bombay House, Bombay House, 24, Homi Mody Street, 24, Homi Mody Street, Fort, Mumbai 400 001. Fort, Mumbai 400 001. Phone : (022) 6665 7279 Phone : (022) 6665 7289 Fax : (022) 6665 7724 / 6665 7725 Fax : (022) 6665 8113 Email : cosectisco@tata.com Email : skhattry@tata.com Shareholder/Investor Complaints : Complaints pending as on 1st April, 2006 : 7 During the period 1st April, 2006 to 31st March, 2007, complaints identified and reported under Clause 41 of the Listing Agreements : 924 Complaints disposed off during the year ended 31st March, 2007 : 928 Complaints unresolved to the satisfaction of shareholders as on 31st March, 2007 : 3 No. of pending share transfers as on 31st March, 2007 : 125* *Transfers lodged in the last week of March 2007 and hence pending as on 31st March, 2007. 172 Sr. Description Nos. Total Total No. Received Replied Pending Complaints A Letters received from Statutory/Regulatory bodies 1. SEBI 34 31 3 2. DOCA — — — 3. STOCK EXCHANGES 13 13 — 4. NSDL/CDSL 10 10 — Total Nos. 57 54 3 B Legal Matters Court/Consumer Forum Matters — — — Total Nos. — — — C Dividends 1. Non-receipt of Dividend Warrants (pending recon. at the time of receipt of letters) 867 867 — 2. Fraudulent Encashment of Dividend Warrants — — — Total Nos. 867 867 — D Letters in the nature of reminders/complaints — — — Total Correspondence Statistics 924 921 3 Note : The Correspondence identified as investor complaints are letters received through Statutory / Regulatory bodies and those related to Court / Consumer forum matters, (where the Company / Registrar is involved and is accused of deficiency in service) fraudulent encashment and non-receipt of dividend amounts where reconciliation of the payment is in progress/completed after the end of the quarter.
Committees In addition to the above Committees, the Board has constituted 4 more Committees, viz. Executive Committee of the Board, the Nomination Committee, Committee of Directors and the Ethics and Compliance Committee. The terms of reference of the Executive Committee of the Board (ECOB) are to approve capital expenditure schemes and donations within the stipulated limits and to recommend to the Board, capital budgets and other major capital schemes, to consider new businesses, acquisitions, divestments, changes in organisational structure and also to periodically review the Company’s business plans and future strategies. The composition of the ECOB and details of the meetings attended by the Directors are given below : Names of Members Category No. of Meetings attended during the year 2006-07 Mr. R. N. Tata, Chairman Professional 5 Not Independent, Non-Executive Mr. Nusli N. Wadia, Member Independent, Non-Executive 2 Mr. S. M. Palia, Member -do- 5 Dr. J. J. Irani, Member Professional 5 Not Independent, Non-Executive Mr. Ishaat Hussain, Member -do- 5 Mr. B. Muthuraman, Member Not Independent, Executive 5 Dr. T. Mukherjee, Member (w.e.f. 18.5.2006) -do- 4 Mr. A. N. Singh, Member (w.e.f. 18.5.2006) -do- 4 Five ECOB Meetings were held during the year 2006-07. The dates on which the said meetings were held were as follows : 17th May, 2006 , 30th August, 2006, 21st November, 2006, 23rd November, 2006 and 20th March, 2007. The Nomination Committee has been constituted on 18th May, 2006 with the objective of identifying Independent Directors to be inducted to the Board from time to time and to take steps to refresh the constitution of the Board from time to time. The composition of the Nomination Committee is given below : Names of Members Mr. Suresh Krishna, Chairman Mr. R.N. Tata, Member Mr. Nusli N. Wadia, Member Mr. S.M. Palia, Member Category Independent, Non-Executive Professional, Not Independent, Non-Executive Independent, Non-Executive Independent, Non-Executive During the year under review, no meeting of the Nomination Committee was held. The Committee of Directors has been constituted to approve of certain routine matters such as Opening and Closing of Bank Accounts of the Company, to grant limited Powers of Attorney to the Officers of the Company, to appoint proxies to attend general meetings on behalf of the Company etc. The Members of this Committee are – Mr. R. N. Tata, (Chairman), Mr. Ishaat Hussain and Dr. J. J. Irani. The business of the Committee is transacted by passing Circular Resolutions which are placed before the Board at its next meeting. Ethics and Compliance Committee In accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992, as amended (the Regulations), the Board of Directors of the Company adopted the Tata Code of Conduct for Prevention of Insider Trading and the Code of Corporate Disclosure Practices (the Code) to be followed by Directors, Officers and other Employees. The Code is based on the principle that Directors, Officers and Employees of a Tata Company owe a fiduciary duty to, among others, the shareholders of the Company to place the interest of the shareholders above their own and conduct their personal securities transactions in a manner that does not create any conflict of interest situation. The Code also seeks to ensure timely and adequate disclosure of Price Sensitive Information to the investor community by the Company to enable them to take informed investment decisions with regard to the Company’s securities. 173
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A Century of Trust 100th Annual Rep
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Tata Steel is Asia’s first and In
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Redefining steel with world-class p
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in a manner that ring-fences the Co
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Board of Directors Mr. R. N. Tata C
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The state-of-the-art Hot Strip Mill
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Distribution of Revenue 2006 - 2007
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1907-2007 JRD Tata with Pandit Jawa
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1907-2007 Tata Steel’s state-of-t
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This photograph taken by a Tata Ste
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Profit Sharing Bonus was granted fo
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A modern swimming pool at the G Tow
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steeljunction in Kolkata - India’
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Tata Steel has introduced high-end
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Tata Structura is a new-age constru
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Shareholder interaction at an Annua
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Within three weeks of the announcem
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It was 1956. The company was faced
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Community and environment : Improvi
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A Critical Care Unit, in the 850-be
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The Tata Steel Family Initiatives F
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The Tata Steel works, mines, collie
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An aerial view of the planned indus
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The Cold Rolling Complex at Jamshed
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1933 Two new roughing and finishing
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From the early days, the Tata Steel
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Production Highlights • The best
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Aspire with T3 With the objective o
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Operational Highlights NSA increase
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was above the average total score o
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Blast furnaces at Corus’ integrat
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Corus produces strong, light steel
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Corus is British Triathlon’s main
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Review of Corporate Sustainability
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TSRDS focused on popularising repro
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Centenary Year The founder, Jamsetj
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esulting in a reduction in consumpt
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convertible preference shares and a
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expansion of crude steel making cap
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The bulk cargo berths are being des
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Corporate Governance Pursuant to Cl
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Annexure 'A' to Directors’ Report
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Form - B Form for disclosure of par
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6 am 2 pm 12 noon 10 am 8 am 8 pm 6
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Particulars of technology imported
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Management Discussion and Analysis
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of 8%. In 2006, China produced 422.
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The Company plans to achieve these
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I. Strategic Rationale for acquisit
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Steelium (India’s first branded c
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The “G” Blast Furnace in Jamshe
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Sales of manganese ore in the domes
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d) Payments and Provisions to Emplo
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m) Stores and Spare Parts and Stock
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The Company generated EVA of Rs. 2,
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Business and Operational Risk The m
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• Raising cost efficient funds fo
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Highlights 2006-07 2005-06 Rupees R
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Auditors’ Report TO THE MEMBERS O
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(b) In our opinion and having regar
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(xii) In our opinion and according
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Page 125 and 126: Cash Flow Statement for the year en
Page 127 and 128: Schedule forming part of the profit
Page 129 and 130: Schedule forming part of the balanc
Page 141 and 142: Schedules forming part of the balan
Page 143 and 144: SCHEDULE M : NOTES ON BALANCE SHEET
Page 163 and 164: Balance Sheet Abstract and Company'
Page 165 and 166: CAPITAL ACCOUNTS Financial Statisti
Page 167 and 168: Financial Ratios 2006-07 2005-06 20
Page 169 and 170: Name Category No. of Whether No. of
Page 171 and 172: the Tata Code of Conduct, which req
Page 173: Shareholding of the Directors in th
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Page 179 and 180: Market Information Market Price Dat
Page 181 and 182: Distribution of Shareholding Number
Page 183 and 184: Address for Correspondence : Tata S
Page 185 and 186: Certificate To the Members of TATA
Page 187 and 188: Statement pursuant to Section 212(8
Page 189 and 190: 4. Subject to the matters referred
Page 191 and 192: Consolidated Profit and Loss Accoun
Page 193 and 194: Consolidated Cash Flow Statement fo
Page 195 and 196: Schedule forming part of the Consol
Page 197 and 198: Schedules forming part of the Conso
Page 203 and 204: SCHEDULE N : NOTES TO THE CONSOLIDA
Page 219 and 220: The Dimna reservoir near Jamshedpur
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100th Annual Report 2006-2007 - Tata Steel

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