100th Annual Report 2006-2007 - Tata Steel

Directors’ Report 2006-07
Mr. Kumar Mangalam Birla stepped down from the Board with
effect from 14th August, 2006. The Board records its appreciation
of the contribution made by Mr. Birla during his tenure as a
Director.
Mr. P. K. Kaul, Financial Institutions’ Nominee Director passed away
on 28th February, 2007. He was a member of the Audit Committee
since 1990 and Chairman of the same between 2002 and 2006.
The Directors record their deep appreciation of the valuable
advice and counsel provided by Mr. Kaul to the Board and the
Audit Committee over a period of 17 years.
Consequent to the acquisition of Corus, the Company has global
operations across almost all the geographies. The Board of Directors,
at its meeting held on 17th May, 2007, approved the appointment
of Mr. James Leng, Mr. Philippe Varin, Mr. Jacobus Schraven and
Dr. Anthony Haywards, Directors of Corus, as Additional Directors
on the Board of the Company. Mr. James Leng has also been
designated as Deputy Chairman of the Board.
The Directors believe that the induction of the above mentioned
four Corus Directors on the Board of the Company will bring in a
rich and varied experience that would enable it to manage the
business of the enlarged size and complexity.
In accordance with the provisions of the Companies Act, 1956,
and the Company’s Articles of Association, Mr. Nusli N. Wadia,
Dr. T. Mukherjee and Mr. A.N. Singh, retire by rotation and are
eligible for re-appointment.
Energy, Technology and Foreign Exchange
Details of energy conservation and research and development
activities undertaken by the Company along with the information
in accordance with the provisions of Section 217(1)(e) of the
Companies Act, 1956, read with the Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988, are
given in Annexure ‘A’ to the Directors’ Report.
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
given in Annexure ‘B’ to the Directors’ Report.
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