Employee State Insurance Act, 1948 (“ESIA”) The ESIA requires the provision of certain benefits to employees or their beneficiaries in the event of sickness, maternity, disability or employment injury. Every factory or establishment to which the ESIA applies is required to be registered in the manner prescribed under the ESIA. Every employee, including casual and temporary employees, whether employed directly or through a contractor, who is in receipt of wages up to Rs. 6,500 per month, is entitled to be insured under the ESIA. The ESIA contemplates the payment of a contribution by the principal employer and each employee to the Employee State Insurance Corporation. Payment of Wages Act, 1936 (“PWA”) The PWA regulates the payment of wages to certain classes of employed persons and makes every employer responsible for the payment of wages to persons employed by such employer. No deductions are permitted from, nor is any fine permitted to be levied on wages earned by a person employed except as provided under the PWA. Minimum Wages Act, 1948 (“MWA”) The MWA provides for a minimum wage payable by employers to employees. Under the MWA, every employer is required to pay the minimum wage to all employees, whether for skilled, unskilled, manual or clerical work, in accordance with the minimum rates of wages that have been fixed and revised under the MWA. Workmen are to be paid for overtime at overtime rates stipulated by the appropriate government. Contravention of the provisions of this legislation may result in imprisonment up to six months or a fine up to Rs. 500 or both. Workmen’s Compensation Act, 1923 (“WCA”) The WCA makes every employer liable to pay compensation if injury, disability or death is caused to a workman (including those employed through a contractor) due to an accident arising out of or in the course of his employment. If the employer fails to pay the compensation due under the WCA within one month from the date it falls due, the commissioner may direct the employer to pay the compensation amount along with interest and impose a penalty for non-payment. Payment of Gratuity Act, 1972 (“PGA”) Under the PGA, an employee who has been in continuous service for a period of five years is eligible for gratuity upon retirement or resignation. The entitlement to gratuity in the event of superannuation or death or disablement due to accident or disease, will not be contingent on an employee having completed five years of continuous service. The maximum amount of gratuity payable must not exceed Rs. 350,000. An employee in a factory is said to be in “continuous service” for a certain period notwithstanding that his service has been interrupted during that period by sickness, accident, leave, absence without leave, lay-off, strike, lock-out or cessation of work not due to the fault to of the employee. The employee is also deemed to be in continuous service if the employee has worked (in an establishment that works for at least six days in a week) for at least 240 days in a period of 12 months or 120 days in a period of six months immediately preceding the date of reckoning. Payment of Bonus Act, 1965 (“PBA”) The PBA provides for the payment of a minimum annual bonus to all employees regardless of whether the employer has made a profit or a loss in the accounting year in which the bonus is payable. Under the PBA every employer is bound to pay to every employee, in respect of the relevant accounting year, a minimum bonus equal to 8.33% of the salary or wage earned by the employee during the accounting year or Rs. 100, whichever is higher. If the allocable surplus, as defined in the PBA, available to an employer in any accounting year exceeds the aggregate amount of minimum bonus payable to the employees, the employer is bound to pay bonuses at a higher rate which is in proportion to the salary or wage earned by the employee and the allocable surplus during the accounting year, subject to a maximum of 20% of such salary or wage. Contravention of the provisions of the PBA by a company will be punishable by imprisonment for up to six months or a fine of up to Rs. 1,000, or both, against persons in charge of, and responsible to the company for, the conduct of the business of the company at the time of contravention. Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (“EPFA”) The EPFA creates provident funds for the benefit of employees in factories and other establishments. Contributions are required to be made by employers and employees to a provident fund and pension fund established and maintained by the Government of <strong>India</strong>. 63
The employer is responsible for deducting employees’ contributions from the wages of employees and remitting the employees’ as well as its own contributions to the relevant fund. The EPFA empowers the Government of <strong>India</strong> to frame various funds such as the “Employees Provident Fund Scheme,” the “Employees Deposit-linked Insurance Scheme” and the “Employees Family Pension Scheme.” Other Laws Land Acquisition Act, 1894 (“Land Acquisition Act”) As per the provisions of the Land Acquisition Act, the central government or appropriate state government is empowered to acquire any land from private persons for ‘public purpose’ subject to payment of compensation to the persons from whom the land is so acquired. The Land Acquisition Act further prescribes the manner in which such acquisition may be made by the central government or the appropriate state government. Additionally, any person having an interest in such land has the right to object to such proposed acquisition. 64
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Yes Yes No No (Mark One) UNITED
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TABLE OF CONTENTS PAGE ITEM 4. INFO
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• Part I — Item 6. Directors, S
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Refined Copper Consumption Global c
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Indian Copper Market Background The
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The following table sets forth the
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Market Outlook Global Zinc Outlook
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Notwithstanding the rise in aluminu
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Market Outlook Global Aluminum Outl
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Consumption Although electricity ge
- Page 21 and 22: Power Trading Power trading takes p
- Page 23 and 24: In addition, we are expanding our a
- Page 25 and 26: • India’s economic growth and p
- Page 27 and 28: We utilize project monitoring and a
- Page 29 and 30: Seeking further growth and acquisit
- Page 31 and 32: Our Production Process Our copper b
- Page 33 and 34: The following map shows the locatio
- Page 35 and 36: The principal deposits in the Mt. L
- Page 37 and 38: consists of a 400,000 tpa copper sm
- Page 39 and 40: Once processed at the Tuticorin fac
- Page 41 and 42: Lead-Zinc Mines HZL sources all of
- Page 43 and 44: Principal Facilities Overview The f
- Page 45 and 46: Mines Rampura Agucha The Rampura Ag
- Page 47 and 48: The gross book value of the Rajpura
- Page 49 and 50: Summary of Mine Reserves The follow
- Page 51 and 52: The following table sets out HZL’
- Page 53 and 54: Market Share and Competition HZL is
- Page 55 and 56: Additional Supply of Alumina The ad
- Page 57 and 58: Bauxite Mines Chhattisgarh Mines Th
- Page 59 and 60: Fabrication Facility The fabricatio
- Page 61 and 62: Other Raw Materials BALCO also uses
- Page 63 and 64: 1,250,000 tpa Aluminum Smelter Veda
- Page 65 and 66: Sterlite Energy — Talwandi Sabo I
- Page 67 and 68: Call Option Over Shares in BALCO On
- Page 69 and 70: mineral development on the forest,
- Page 71: Water (Prevention and Control of Po
- Page 75 and 76: Our net sales and operating income
- Page 77 and 78: • Power. Our commercial power gen
- Page 79 and 80: Copper The net sales of our copper
- Page 81 and 82: Year Ended March 31, 2007 2008 2009
- Page 83 and 84: In addition, the Finance Act (2 of
- Page 85 and 86: Power Business We expect our future
- Page 87 and 88: Results of Operations Overview Cons
- Page 89 and 90: • Pursuant to the approval of the
- Page 91 and 92: Aluminum Net sales to external cust
- Page 93 and 94: the selling and distribution expens
- Page 95 and 96: • Aluminum production increased f
- Page 97 and 98: We currently expect capital expendi
- Page 99 and 100: Besides existing facilities, we had
- Page 101 and 102: Energy is in the process of obtaini
- Page 103 and 104: Contractual Obligations The followi
- Page 105 and 106: SFAS No. 161, “Disclosures about
- Page 107 and 108: ITEM 6. DIRECTORS, SENIOR MANAGEMEN
- Page 109 and 110: ITEM 19. EXHIBITS The following exh
- Page 111 and 112: 4.15 Rs. 7,000 million Rupee Term F
- Page 113 and 114: 4.41 Rs. 10,000 million Loan Agreem
- Page 115 and 116: Exhibit 12.3 Certification of Chief
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