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14. DIRECTORS’ RESPONSIBILITY STATEMENTPursuant to provisions of Section 217(2AA) of the CompaniesAct, 1956, the Directors confirm that:i) In the preparation of the annual accounts, the applicableaccounting standards have been followed along withproper explanations relating to material departures.ii) The directors have selected such accounting policiesand applied them consistently and made judgments andestimates that are reasonable and prudent so as to givea true and fair view of the state of affairs of the Companyat the end of the financial year and of the profit or loss ofthe Company for that period.iii) Proper and sufficient care has been taken for themaintenance of adequate accounting records inaccordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing anddetecting fraud and other irregularities.iv) The annual accounts have been prepared on a goingconcern basis.15. CORPORATE SOCIAL RESPONSIBILITYCorporate Social Responsibility (CSR) is an integral part ofyour Company’s Corporate Vision. Your Company continuesin its commitment to good corporate citizenship by aiming toachieve a balance in the economic, environmental and socialresponsibility through its various social involvements.Maintaining a safe and healthy workplace is an importantnecessity at TIL, which manifests itself into regular safetyawareness trainings imparted to its workforce. Scholarshipschemes for education for children, vocational trainings foryouth, providing flood and calamity relief for the disasterstruck, medical assistance through mobile medical van aroundthe community are some examples of the ongoing endeavour.TIL Welfare Trust, provides relief in the form of education,medical and financial support to those in need and distress.Every year, on TIL Caring Day, your Company reaches out tothe under-privileged sections of the society.CSR will continue to remain one of the leading priorities atTIL through which your Company will constantly strive totouch lives and make a difference. In a small way, this is yourCompany’s contribution in alleviating India’s poverty.16. ENVIRONMENTYour Company pursues activities directly aligned withenvironmental protection and sustenance with a focus onmaking the world a better place. All products manufactured and/ or sold are fully compliant with environmental regulations.Every year during the world environment day, your Companyundertakes various initiatives towards making the worlda greener and better place to live in. Some examples ofthe activities are tree plantation across customer sites andsurrounding communities, creating awareness on environmentamong children through drawing contest, and donatingsaplings.17. AUDITORSMessrs. Price Waterhouse, Chartered Accountants, StatutoryAuditors of the Company, hold office till conclusion of theensuing Annual General Meeting and being eligible offerthemselves for re-appointment.18. AUDITORS’ REPORTThe notes to the Accounts referred to in the Auditors’ Reportare self-explanatory and, therefore, do not call for any furthercomment under Section 217(3) of the Companies Act.19. ACKNOWLEDGEMENTSThe Board wishes to record its appreciation for the continuedco-operation, support received from the valued Customers,Employees, Principals, Shareholders, Suppliers, Banks andFinancial Institutions throughout the period under review.Place : KolkataDate : 11th May, 2009.For and on behalf of theBoard of DirectorsA. MazumdarChairman