INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

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CORPORATE GOVERNANCEii)iii)iv) the directors have prepared the annual accounts on a going concern basis.SUBSIDIARY COMPANIESAditya Vikram Global Trading House Ltd.Birla Sunlife Insurance Company Ltd.Laxminarayan Investments Ltd.Rajnidhi Finance Ltd.PARTICULARS AS PER SECTION 217 OF THE COMPANIES ACT, 1956.DIRECTORS34123Your company has always taken lead and is fully committed to good corporate governance practices. Your Directors are pleased toconfirm that your company endeavors to adhere to the standards set out by the Securities And Exchange Board of India’s (SEBI) CorporateGovernance practices and accordingly has implemented all the major stipulations prescribed. Your Company’s Statutory Auditors Certificatedated 26th April, 2001 in line with Clause 49 of the Stock Exchange Listing Agreement, validates our claim. This certificate is annexed toand forms part of the Directors’ Report.As stipulated in Section 217(2AA) of Companies Act, 1956, your Directors subscribe to the “Directors Responsibility Statement” andconfirm that:i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanationrelating to material departures;the directors have selected such accounting policies and applied them consistently and made judgements and estimates that arereasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year andof the profit or loss of the company for that period;the directors have taken proper and sufficient care of the maintenance of adequate accounting records in accordance with theprovisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;In line with Section 212 of the Companies Act, 1956, the audited statements of accounts along with the report of the Board ofDirectors and the Auditors Report of the following Subsidiaries are annexed.The particulars of employees, as required under Section 217(2A) of the Companies Act, 1956, are given in a separate Annexureto this Report. This annexure, however, is not sent with the Report and Accounts to the shareholders of the Company in keeping withthe provisions of Section 219(1)(b)(iv) of the Companies Act, 1956. Those of the Shareholders who are interested in obtaining theseparticulars may please write to the Company Secretary, at the Company’s Registered Office.Information relating to the conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo, requiredunder Section 217(1)(e) of the Companies Act, 1956, is set out in a separate statement attached to this report and forms part of it.During the year, your Board has been further strengthened with the induction of two well-regarded professionals Ms. TarjaniVakil and Mr. Siddhartha Sen. Ms. Tarjani Vakil is Ex-Chairperson and Managing Director of Exim Bank and Mr. Siddhartha Sen is Ex-Group Marketing Advisor of Unilever Group of Companies in India.They fill up the causal vacancies caused by the resignation of Mr. D.S.Dahanukar and Mr. Ashwini Kumar Kanoria from the Boardof Directors of the Company. Your Directors record their sincere appreciation for the valuable services rendered by Mr. D.S.Dahanukarand Mr. Ashwini Kumar Kanoria during their tenure in the office.Mr. Kumar Mangalam Birla and Mr. B.L.Shah retire from office by rotation, and being eligible, offer themselves for reappointment.
AWARDS AND RECOGNITIONDuring the year under review, your Company was the proud recipient of the following awards and recognition.• ISO 9002 Certification by KPMG, Mumbai for providing Investor and Secretarial Services• IMAGES APPAREL AWARD for Madura Garments who were named as the “Most Admired Apparel Company of the year”.• IMAGES ORG MARG CONSUMER SURVEY AWARD for “Peter England” Shirt Brand of Madura Garments as the “Most Admired ShirtBrand of the year”.• National Safety Award bestowed upon Rayon Division by the Government of India (Ministry of Labour) for “Outstanding Performancein Industrial Safety, in achieving Lowest Average Frequency Rate”• National Energy Conservation Award – 2000, Certificate of Merit in Petro Chemicals Sector for Hi-Tech Carbon, Renukoot Division.• IQRS Level 7 Certification for Hi-Tech Carbon, Chennai, making it among the first plants in India to have won this distinction.• Top Exporter Award for the year 1999-2000 conferred upon Jayashree Insulator by the Chemicals & Allied Products Export PromotionCouncil under category Ceramics and Refractories.• Export Performance Awards from Wool & Woollen Export Promotion Council for highest Export Performance in yarn and secondhighest Export Performance in Wool Tops/ Noils conferred upon Jayashree Textiles.• The Third Best overall Export Performance Award from Synthetic & Rayons Textiles Export Promotion Council for export ofSynthetic Yarns & Fabrics to Jayashree Textiles.AUDITORSThe observations made in the Auditors’ Report are self-explanatory and therefore, do not call for any further comments underSection 217(3) of the Companies Act, 1956.Your Directors request you to appoint Auditors for the current year and fix their remuneration.APPRECIATIONYour Directors wish to acknowledge and thank the Central and State Governments and all Regulatory bodies for their supportand guidance.Your Directors thank our esteemed shareholders, customers, business associates, Financial/Investment Institutions and Commercialbanks for the faith reposed in your Company and its management.Your Directors place on record their deep appreciation of the dedication and commitment of your company’s employees. Theyhave been and continue to be instrumental to your Company’s ongoing success.For and on behalf of the BoardMumbai26th April, 2001Chairman35
Page 1 and 2: BOARD OF DIRECTORSShri Kumar Mangal
Page 3 and 4: Simultaneously, we will concentrate
Page 5 and 6: Mavoor, which were rendered unviabl
Page 7 and 8: SEGMENTAL ANALYSIS AND REVIEWThe ne
Page 9 and 10: On the upside is the structural cha
Page 11 and 12: Benefiting from the shifting focus
Page 13 and 14: • Volume Enhancement: Efforts on
Page 15 and 16: Outlook for Indian Rayon’s Insula
Page 17 and 18: Net ProfitNet Profit has gone up fr
Page 19 and 20: Birla Sunlife Insurance Company Ltd
Page 21 and 22: 1 Independent director means direct
Page 23 and 24: 5. The Board meetings should be hel
Page 25 and 26: 13. The Company should provide a br
Page 27 and 28: Social ReportBeyond Business - Reac
Page 29 and 30: Environment ReportENVIRONMENTAL PRO
Page 31 and 32: Directors’ Report to the Sharehol
Page 33: Forays Into New Business Segments a
Page 37 and 38: ii)iii)Insulator Division• Instal
Page 39 and 40: ANNEXUREForm-AForm for disclosure o
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Page 43 and 44: Profit & Loss Account for the year
Page 45 and 46: SCHEDULE ‘3’ As at 31st As at 3
Page 47 and 48: SchedulesSCHEDULE ‘6’ (Contd.)I
Page 49 and 50: SCHEDULE ‘8’ As at 31st As at 3
Page 51 and 52: SCHEDULE ‘13’ 2000-01 1999-2000
Page 53 and 54: SchedulesSCHEDULE ‘19’SIGNIFICA
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Page 57 and 58: SchedulesANNEXURE IINFORMATION PURS
Page 59 and 60: BALANCE SHEET ABSTRACT AND COMPANY
Page 61 and 62: STATEMENT PURSUANT TO SECTION 212 O
Page 63 and 64: BALANCE SHEET AT 31 DECEMBER 2000IN
Page 65 and 66: BIRLA SUN LIFE INSURANCE COMPANY LI
Page 67 and 68: REVENUE ACCOUNTFor the period 4th A
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Page 73 and 74: Tax ProvisionThe tax provision as o
Page 75 and 76: MANAGEMENT REPORTIn accordance with
Page 77 and 78: BALANCE SHEETAs at 31st March, 2001
Page 79 and 80: STATEMENT PURSUANT TO SECTION 212 O
Page 81 and 82: BALANCE SHEETAs at 31st March, 2001
Page 83 and 84: Shareholder Information1. Annual Ge
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Relative Performance: Indian Rayon
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15. Categories of Shareholding as o
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INDIAN RAYON AND INDUSTRIES LIMITED - Aditya Birla Nuvo, Ltd

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