Download the Annual Report for 2010-11. - kiocl limited

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27. BOARD OF DIRECTORSAppointmenti) Shri S Machendra Nathan, IAS, Additional Secretary & Financial Adviser, Ministry ofSteel was appointed as Part time official Director W.e.f. 25-05-2010. Major Gen. (Retd.)Dr. OP Soni, VSM, Commander, Faculty of Doctrine & Tactics, School of Artillary, Deolaliis appointed as Director (Commercial) vide Order No.5(13)/2009-KDH dated 06-12-2010. He assumed charge on 01-02-2011.ii) Shri Upendra Prasad Singh, Joint Secretary, Ministry of Steel appointed as Part timeofficial Director w.e.f. 9.5.2011.iii) Shri K Subba Rao, is appointed as Director (Production & Projects) w.e.f. 9.6.2011 inpursuance to Ministry of Steel order dated 9.6.2011.CessationShri George Elias, IAS, Joint Secretary to Govt. of India, Ministry of Steel resigned from theDirectorship of the Company from 20-01-2011 consequent to his transfer from Ministryof Steel. Your Directors place on record their deep appreciation of the valuable servicesrendered/advice and guidance provided by Shri George Elias, as Director of the Companyduring his tenure as Govt. nominee on KIOCL Board and also his assistance at the Ministryon various matters.28. LISTING REQUIREMENTSI. The Company’s shares are listed on the following Stock exchanges:Bangalore Stock Exchange Limited, Madras Stock Exchange Limited,“Stock Exchange Towers”,Exchange Building,No.51, 1st Cross, J.C.Road,P.O. Box No. 183, 11 Second Line Beach,Bangalore – 560 027. Chennai – 600 001.II.III.IV.The Company has paid the Annual listing fee to each of these Stock Exchanges forthe year 2010-11.A report on the Corporate Governance is at Annexure-II.A declaration by the Chairman-cum-Managing Director regarding the Code of Conductfor the Board Members and the Senior Management of the Company is at Appendix-Ito Annexure-II.V. A Certificate from the Chairman-cum-Managing Director and the Director (Finance)regarding the Financial and Cash Flow statements is at Appendix-II to Annexure-II.46
Director's Report (Contd.)VI. A Certificate from the Auditors of the Company regarding compliance of conditionsof Corporate Governance is at Annexure-III.VII.There is no pecuniary relationship or any transactions by any of the non-executiveDirectors vis-à-vis the Company.29. STATUTORY AUDITORSPursuant to Section 619(2) of the Companies Act, 1956 the Comptroller and AuditorGeneral of India has appointed M/s ASA & Associates (earlier Murali Associates), CharteredAccountants as Statutory Auditors of the Company for the year 2010-11.30. STATUTORY AUDITORS REPORT, COMMENTS OF C & AG AND MANAGEMENTREPLYThe comments of C & AG under Section 619(4) of the Companies Act, 1956 on the accountsof the Company for the year ended 31st March 2011, the Statutory Auditors observationsand management replies thereto are annexed to the report.31. IMPLEMENTATION OF RIGHT TO INFORMATION ACT, 2005The information required to be provided to citizens under Section 4(1) (b) of theRTI Act 2005 has been posted and updated on the website of the Company,www.kioclltd.com. The information posted on the website contains general information aboutthe Company, powers and duties of the employees, information about decision making, rules,regulations, manuals and record held by KIOCL, directory of the Company’s officers, payscales, procedure for requesting additional information about the Company by citizens andassociated request formats. During the year 2010-11 the Company received and attendedto 64 requests for information under RTIA.32. ENERGY CONSERVATIONEnergy conservation day was celebrated on 14-12-2010 at plants in Mangalore. Variouscompetitions were held as a part of Energy Conservation week and prizes were distributedto the winners of various competitions conducted during the week. Electricity consumptionduring 2010-11 as compared to 2009-10 was as under:-2010-11 2009-10Consumption per tonne of Pellets production in kWh 71.02 66.92(including grinding)33. ENERGY AUDITThe Company’s operations are highly energy intensive. Keeping in view the importanceof energy conservation, a specific plan and a programme has been drawn for compulsory47
Page 3: ContentsBoard of Directors 3Notice
Page 10 and 11: EXPLANATORY STATEMENT PURSUANT TO S
Page 13: Form of ProxyKIOCL LIMITEDRegd. Fol
Page 16 and 17: Production for Asia was 897.9 milli
Page 18 and 19: PROJECTS UNDER CONSTRUCTION :In my
Page 20 and 21: 18Captive Iron Ore Mine:The Company
Page 22 and 23: Directors’ ReportDear Shareholder
Page 24 and 25: 4.3 The following table summarises
Page 26 and 27: efforts to cool down the overheatin
Page 28 and 29: Plant at Mangalore, KIOCL has to ge
Page 30 and 31: Consultant recommended that KIOCL c
Page 32 and 33: mortar manufacture. This can also b
Page 34 and 35: Other Mining /Prospecting Leases9.4
Page 36 and 37: either from the recognised Union or
Page 38 and 39: Visit of Third Sub-Committee of Par
Page 40 and 41: Former Secretary (Steel) Shri Atul
Page 42 and 43: Groups on rolls of the Company as o
Page 44 and 45: 23.4 Your Company has also nominate
Page 46 and 47: 25.3 Inspections: 7 CTE type inspec
Page 50 and 51: energy audit to quantify the target
Page 53 and 54: Annexure-IICORPORATE GOVERNANCECOMP
Page 55 and 56: is not practical to send the releva
Page 57 and 58: Corporate Governance (Contd.)c) To
Page 59 and 60: Corporate Governance (Contd.)Detail
Page 61 and 62: Corporate Governance (Contd.)(iii)
Page 63 and 64: Corporate Governance (Contd.)(xii)
Page 65 and 66: Corporate Governance (Contd.)(xx) R
Page 67 and 68: WeaknessCorporate Governance (Contd
Page 69 and 70: Corporate Governance (Contd.)local
Page 71 and 72: KIOCL Limited(Formerly Kudremukh Ir
Page 73 and 74: Annexure-IIIASA & ASSOCIATESCharter
Page 75 and 76: C. a. Confirmations of Balances hav
Page 77 and 78: Auditors' Report (Contd.)5. a. In o
Page 79 and 80: Auditors'ReportPara No.COMMENTS/OBS
Page 81 and 82: COMMENTS OF THE COMPTROLLER AND AUD
Page 83 and 84: 3.2 Depreciation in respect of Asse
Page 85 and 86: 7.2 Provision for Leave Encashment
Page 87 and 88: Profit and Loss Account for the yea
Page 89 and 90: Schedule 3FIXED ASSETSG R O S S B L
Page 91 and 92: Schedules (Contd.)Schedule 6CURRENT
Page 93 and 94: Schedules (Contd.)Schedule 7CURRENT
Page 95 and 96: Schedule 10ACCRETION/(-)DEPLETION T
Page 97 and 98: Schedules (Contd.)Schedule 14PRIOR
Page 99 and 100:
Schedules (Contd.)Schedule 16NOTES
Page 101 and 102:
5. In pursuance of the directive of
Page 103 and 104:
y the Govt of India and is binding
Page 105 and 106:
Schedules (Contd.)Year ended Year e
Page 107 and 108:
Details of measurement of present v
Page 109 and 110:
TYPE OF PLANLONG TERM COMPENSATEDAB
Page 111 and 112:
TYPE OF PLANLONG TERM COMPENSATEDAB
Page 113 and 114:
Balance Sheet Abstract and Company'
Page 115 and 116:
Cash Flow Statement for the year en
Page 117 and 118:
SEGMENT REPORTING FOR THE YEAR ENDE
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