Annual Report English.pmd - Indian Railway Finance Corporation Ltd.

Company to improve the quality of electronic connectivity. A website of the Company is presently underconstruction and will be launched shortly.Human Resource DevelopmentYour Company has been performing consistently well despite the constraint of total manpower strengthbeing limited to 15. While difficulties associated with such lean workforce are to an extent being overcomeby outsourcing various activities, your Company is in the process of marginally augmenting the organisationstrength to take on more challenges in the days to come.Official LanguageDuring the year under review, four quarterly meetings of the Official Language Implementation Committeewere held, and two Hindi Workshop were conducted.Your Company has progressively increased use of Hindi in accordance with the Official Language Policyof the Government. Letters received in Hindi are replied to in Hindi. Press Releases, including AdvertisementCampaigns, are published in Hindi also. Section 3 (3) of Official Language Act is invariably complied with.The Annual Report of the Company is also concurrently published in Hindi. Officers and staff possessworking knowledge of Hindi.Conservation of Energy & and Technology absorptionBeing a Finance Company, the provisions of Section 217(1) and (2-A) of the Companies Act, 1956 asamended by the Companies Amendment Act, 1988 in respect of Conservation of Energy and Technologyabsorption are not applicable to your Company.Particulars of EmployeesThere was no employee of the Company who received remuneration in excess of the limits prescribedunder Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees)Rule, 1975.Women EmployeesYour Company has a very small organisational setup, comprising 15 employees in all. Out of these, threeemployees are in the category of Senior Assistants, which include one woman employee.Meetings of the Board of DirectorsNine meetings of the Board of Directors were held during the financial year 2004-05.Board of DirectorsDuring the financial year 2004-05 and up to the date of the Report, the following Directors held office :-Smt. Vijayalakshmi ViswanathanChairpersonFrom 29-11-2002 onwardsShri S.BalachandranManaging DirectorFrom 23-2-2001 onwardsShri R.SivadasanDirectorFrom 25.9.2001 onwardsShri R.KashyapDirector FinanceFrom 31.1.2002 onwardsShri R.C.SaxenaDirector From 12.2.2002 to 30.09.2004Shri P. K. DebDirectorFrom 22.07.2003 onwards9