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Overview Performance Reviews Governance Financials105Annual Report 2010-115. DEPOSITThe Company has not accepted any deposits from the public during the year.6. PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGYABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGOThe Statement pursuant to Section 217(1)(e) of the Companies Act,1956 read with Companies (Disclosure of Particulars in the Report ofthe Board of Directors) Rules, 1988 is given in the Annexure formingpart of this Report.7. PARTICULARS OF EMPLOYEESThe total number of employees of the Company as on 31st March, 2011was 1187.Information in accordance with the provisions of Section 217(2A) of theCompanies Act, 1956, read with Companies (Particulars of Employees)Rules, 1975, as amended, forms part of this Directors’ Report. However,as per the provisions of Section 219(1)(b)(iv) of the Companies Act,1956, the Report and Accounts are being sent to all Shareholders ofthe Company excluding the Statement of Particulars of Employeesunder Section 217(2A) of the Companies Act, 1956. Any Shareholderinterested in obtaining a copy of the said Statement may write to theCompany Secretary at the Registered Office of the Company, and thesame will be sent by post.8. DIRECTORSDr. T. Mukherjee retires by rotation and being eligible, offers himself forre-appointment. The Board recommends his re-appointment.9. DIRECTORS’ RESPONSIBILITY STATEMENTPursuant to provisions of Section 217(2AA) of the Companies Act, 1956,the Directors confirm that:i) In the preparation of the annual accounts, the applicableaccounting standards have been followed along with properexplanations relating to material departures.ii) The directors have selected such accounting policies and appliedthem consistently and made judgments and estimates that arereasonable and prudent so as to give a true and fair view of thestate of affairs of the Company at the end of the financial yearand of the profit or loss of the Company for that period.iii) Proper and sufficient care has been taken for the maintenance ofadequate accounting records in accordance with the provisionsof the Act for safeguarding the assets of the Company and forpreventing and detecting fraud and other irregularities.iv) The annual accounts have been prepared on a going concern basis.9. AUDITORSMessrs. PriceWaterhouse, Chartered Accountants, Statutory Auditors ofthe Company, hold office till conclusion of the ensuing Annual GeneralMeeting and being eligible, offer themselves for re-appointment.10. AUDITORS’ REPORTThe notes to the Accounts referred to in the Auditors’ Report are selfexplanatoryand, therefore, does not call for any further comment underSection 217(3) of the Companies Act.11. SECRETARIAL AUDIT REPORTPursuant to Section 383A of the Companies Act, 1956, your Companyhas appointed Mr. Tarun Chatterjee of M/s. T. Chatterjee & Associates,Practicing Company Secretaries, to conduct Secretarial Audit of theCompany for the financial year ended March 31, 2011. The SecretarialAudit Report addressed to the Board of Directors of the Company isattached hereto as part of this report. The Secretarial Audit Reportconfirms that the Company has complied with all the applicableprovisions of the Companies Act, 1956, and all other Laws as applicableto the Company.12. ACKNOWLEDGEMENTSThe Board of Directors takes this opportunity to thank all its valuedCustomers, Principals, TIL Limited, Bankers, and the GovernmentAuthorities for their co-operation and support to the Company. TheBoard also takes this opportunity to express its sincere appreciation forthe excellent support and dedicated efforts put in by the each and everyemployee of the Company.For and on behalf of Board of DirectorsPlace : KolkataDate : 17th May, 2011.S. MazumderChairman & Managing Director