Powers And Duties of IRFC'S Officers and Employees Business of ...

Powers And Duties ofIRFC’S Officers and EmployeesBusiness of the Company is carried out in line with objectives andactivities set out in the Memorandum & Articles of Association. Overall control is exercisedby the President of India acting through his nominees/representatives, subject to provisionsof the Companies Act, and he may issue such directives or instructions as may beconsidered necessary in regard to the conduct of business and affairs of the company. In alike manner, the President may vary and annul such directive(s) or instruction(s). Shareholdersof the company, who are nominees of the President of India, exercise control oversome aspects of the company's affairs, such as declaring dividend on the recommendationsof the BOD. Annual activities of the Company are largely determined by the mandate givenby the Ministry of Railways regarding borrowings for the year. Actual borrowing programmeis guided and monitored by BOD, with day to day operations left in the hands of MD andother executive Officer(s).Direct responsibility for performance of the company vests in the MDacting through DF and other Officers/staff. Borrowing performance is accomplished in aphased manner keeping a watch on the market conditions, and ensuring that borrowing costis kept to the minimum.Performance targets of the Company are fixed and actual performanceadjudged by a Task Force, which is an independent body functioning under the aegis ofDepartment of Public Enterprise, Govt. of India. Based on discussions with the Task Force,challenging but achievable financial parameters and targets are set out in the MOU, which issigned by the Company with the Ministry of Railways at the beginning of the year.Evaluation is done based on performance against parameters and targets in the MOU. TheCompany has obtained "Excellent" rating from the Department of Public Enterprises forseven years in succession. The Company has also received awards both from the Presidentof India and Prime Minister of India for the years 2001-02 and 2002-03 respectively forbeing among top 10 Central PSUs.Managing Director— Managing Director exercises delegated powers of BOD for managing thebusiness of the company.— As Chief Executive and member of the Board of Directors, he controlsoverall functioning of the Company.— Formulates and implements policies with the approval of the Board,wherever necessary.— As the professional head, he provides corporate leadership.

Director Finance:— He is a Board level officer. As the professional head of the Finance & AccountsDepartment, he is responsible for preparation, execution and monitoring of action plans andfor meeting annual borrowing targets and plans for investment of surpluses and reserves.He maintains liaison with banking and financial institutions, regulatory authorities,credit rating agencies, Comptroller and Auditor General of India etc. He isoverall responsible for preparation and maintenance of Company's accounts and financialstatements. He scrutinizes all financial proposals and accords approval/sanction orrecommends cases for financial/administrative approval to MD/BOD as the case may be.— Activities of IRFC are carried out in 4 Sections viz. Company Secretary's Office-cum-Bonds Section, Accounts Section, External Commercial Borrowing and AdministrationSection. Each section is headed a Senior Officer, currently in the rank of an Addl.General Manager. Brief description of their functions is as follows:General Manager (Term Loans) & Company Secretary:— He is responsible for Company Secretarial and legal work. He deals with borrowingsfrom banks/financial institutions, investment of funds, treasury management, leaseagreements with Administrative Ministry, cash budgeting, servicing and repayment ofExternal Commercial Borrowings (ECBS), Term Loans, Tax, TDS, Cash management andMemorandum of Understanding (MOU) and various statutory returns to Department of PubicEnterprises.General Manager(Bonds) :Contact :24368068 (D)EPABX : 24369766-69Fax : 24368721— He deals with fund raising from domestic market. His job profile includesopportunities from diverse sources for low cost funds, gathering market information,discussion and negotiation with prospective lenders, invitation of bids for Bonds,issuance, allotment & listing of Bonds, ensuring timey debt servicing and repaymentof principal, obtaining Ratings for Company’s Borrowing programme. He alsohandles Audit matters, RBI returns, Investor complaints, queries and grievances. Healso liaises with Registrar Office whose address is given below:Mr.M.R.V. SubrahmanyanKarvy Consultants Ltd.In IRFC - GM(B) & Co. SecyUnit: IRFC, 46, Avenue 4,Street No. 1, Banjara Hills,Hyderabad- 500 034 (A.P.)Tele No(s) (040)3320751;3320251;3312454Fax No. (0403311968; 3323049)E-Mail: mrvs@Karvy.com

His contact particulars are as under:Contact :24368070 (D)EPABX : 24369766-69Fax : 24366710General Manager(ECB) :— He deals with foreign currency commercial borrowing, export credit /supplier credit etcand Bilateral loans. He also deals with payment instruction towards multi-currency Lettersof Credits opened by Railways towards procurement of equipment. Also deals with varietiesof hedge transactions - principal only swaps, structured knock out interest rate swap,interest rate swap in both in foreign currency & INR. Off-Balance Sheet INR borrowingthrough Lease finance route, to leverage the capital adequacy requirement.— He explores the possibility to liquidate the possible future financial liability by upfrontpayment and replacing with low cost fresh market borrowing and ensure savings to theCompany.— Advance encashment from Govt. to meet the contracted payment obligation to thelenders in one of the Govt. bilateral transactions.Contact :24368069(D)EPABX : 24369766-69Fax : 24369790Group General Manager (P&A) :— Deals with administrative, personnel, training, maintenance of office building,housekeeping, security, transportation, IT, Official Language, vigilance matters etc.Contact :24368067(D)EPABX : 24369766-69Fax : 24369770Group General Manager(P&A) and General ManagersAssistants/Assistants.are assisted by Senior