URANIUM CORPORATION OF INDIA LIMITED - (UCIL).....

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ANNEXURE-II TO DIRECTORS’ REPORT TO SHAREHOLDERS Corporate Governance Your Company believes in practicing good Corporate Governance attaining maximum level of transparency, accountability and integrity in all facets of its operations and continued its efforts in this direction. Board of Directors : In terms of Section 617 of the Companies Act, 1956, <strong>UCIL</strong> is a Government Company. The entire paid up capital of the company is held by the President of India, including 3 shares held by his nominees. The Board has optimum combination of executive and non-executive Directors. The Board, as on 31.03.2007, comprised of seven Directors which included (i) three whole-time Functional Directors viz., Chairman & Managing Director, Director (Finance) & Director (Technical) and (ii) four parttime Non-Executive Directors. The Board meets at regular intervals and is responsible for the proper direction and management of the company. During the financial year ended March 2007, four meetings of the Board of Directors were held on 29.06.2006, 22.09.2006, 26.12.2006 and 09.03.2007. The composition of the Directors, their attendance at the Board Meetings and Annual General Meeting are as follows : Name & Position as on 31.03.2007 Executive Directors No. of other Directorships Shri R. Gupta, Chairman & Functional 04 04 Yes — Managing Director Shri K. R. Sivaraman Functional 04 04 NA — Director (Finance) Shri D. Acharya Functional 04 03 NA — Director (Technical) Non-Executive Directors Category Board Meetings Held during the tenure Attended Attendance at the AGM held on 22.09.2006 Shri V.P. Raja Part-time 04 03 No 02 Addl. Secy (I&M), DAE ex-officio Shri Rahul Asthana Part-time Joint Secy (Fin), DAE ex-officio 04 03 Yes 04 Shri R. M. Sinha, Director, AMD Part-time 01 — NA — (Upto 30.06.2006) Shri R.N. Jayaraj Part-time 04 02 NA 01 Chief Executive, NFC (w.e.f. 03.05.2006) Shri M.K.Mandal Part-time Chief Secretary Ex-officio 03 02 NA — Govt. of Jharkhand (w.e.f. 03.05.2006) (Upto 28.02.2007) Dr. Anjan Chaki, Director, AMD Part-time 03 03 NA — (w.e.f. 01.08.2006) 18
The remuneration of the whole-time Directors is fixed by the Government of India as the company is a Government company in terms of Section-617 of the Companies Act, 1956. As regards part-time Directors, since they are either Government officials or officials from other PSUs, they are not eligible for sitting fee for the meetings attended by them. Audit Committee : The composition of the Audit Committee as on 31.03.2007 was as follows: 1. Shri Rahul Asthana, : Chairman Joint Secretary (Finance) Department of Atomic Energy 2. Shri V. P. Raja, : Member Addl. Secretary (I&M) Department of Atomic Energy 3. Shri D. Acharya, : Member Director (Technical) Uranium Corporation of India Limited During the year, four meetings of the Committee were held on 29.06.2006, 22.09.2006, 26.12.2006 and 09.03.2007. The Committee reviewed the annual accounts of the company for the year 2006-07 and also reviewed the report of the internal auditor, statutory auditor. General Body Meetings : The Annual General Meetings/Extra-ordinary General Meetings held during last three years are given below : Year Date Time Venue 2003-04 (AGM) 29.09.2004 1300 Hours DAE, Mumbai 2004-05 (EGM) 15.07.2005 1230 Hours DAE, Mumbai 2004-05 (AGM) 30.08.2005 1230 Hours ITC Hotel, Kolkata 2005-06 (AGM) 22.09.2006 1300 Hours <strong>UCIL</strong>, Shillong 19
Page 1 and 2: URANIUM CORPORATION OF INDIA LIMITE
Page 3 and 4: BOARD OF DIRECTORS Shri R. Gupta Ch
Page 5 and 6: NOTICE Notice is hereby given that
Page 7 and 8: successfully conducted and MOEF has
Page 9 and 10: 1.2 Operating Performance :
Page 11 and 12: 1.4 MOU Performance : Performance o
Page 13 and 14: 12.0 Corporate Governance : A repor
Page 15 and 16: the company at the end of the finan
Page 17: (b) (c) (d) (e) A series of leachin
Page 21 and 22: COMPANY’S FINANCIAL POSITION Summ
Page 23 and 24: WHAT THE COMPANY EARNED AND SPENT S
Page 25 and 26: 300 281.56 295.52 250 254.97 213.97
Page 27 and 28: AUDITOR'S REPORT To, The Members of
Page 29 and 30: ANNEXURE TO THE AUDITORS' REPORT (R
Page 31 and 32: COMMENTS OF THE COMPTROLLER AND AUD
Page 33 and 34: Profit and Loss Account for the yea
Page 35 and 36: RESERVES AND SURPLUS SCHEDULE - 2 A
Page 37 and 38: ASSETS SCHEDULE - 3 D E P R E C I A
Page 39 and 40: CURRENT ASSETS, LOANS AND ADVANCES
Page 41 and 42: 1. Advances recoverable in Cash or
Page 43 and 44: CURRENT LIABILITIES AND PROVISIONS
Page 45 and 46: SCHEDULE - 10 INCREASE/(DECREASE) I
Page 47 and 48: OTHER EXPENSES SCHEDULE - 12 2006-0
Page 49 and 50: AMENITIES (INCLUDING GUEST HOUSE) o
Page 51 and 52: 6. VALUATION OF INVENTORIES : a) Me
Page 53 and 54: NOTES ON ACCOUNTS SCHEDULE - 15 1.
Page 55 and 56: 15. Deferred Tax Liability comprise
Page 57 and 58: 19. Related party disclosure : Part
Page 59 and 60: INFORMATION PURSUANT TO PART IV OF
Page 61: (Rs. in Lakh) Profit/Loss Capital L

URANIUM CORPORATION OF INDIA LIMITED - (UCIL).....

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