In English - Bharat Heavy Electricals Ltd.

SUSTAINABILITY
Sustainability is an integral part of the company’s
strategy. BHEL is committed to be an Environment
friendly company in all its areas of activities, products
and service, providing safe and healthy working
environment.
In line with the company’s strategy, Environment
Improvement Projects and Community Development
Programmes are given special thrust. Some of the major
EIPs executed in the past at BHEL plants and townships
included tree plantation drives, installation of rain
harvesting plants, efficient water and energy
management, reduction in noise level, improvement in
chemical storage and handling systems etc.
The Department of Public Enterprises (DPE) has issued
guidelines on Sustainable Development on 23rd Sept.
2011. In conformance to the guidelines, a Board-Level
Committee for Corporate Social Responsibility &
Sustainable Development (BLC for CSR & SD), has
been constituted. BHEL has defined its SD policy in
keeping in view the scale & nature of activities, products
& services.
The SD projects will have thrust on the projects in the
fields of Rain water harvesting, afforestation, captive
power generation based on Solar energy, use of
renewable energy, energy efficiency & conservation and
waste disposal.
All manufacturing Units/ Regions of the company are
accredited to international standards viz. ISO-14001
certification for environmental management and
OHSAS-18001 certification for occupational health and
safety management systems.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act,
1956, it is hereby confirmed:
(i) that in the preparation of the annual accounts for
the financial year ended 31st March, 2012 the
applicable Accounting Standards have been
followed along with proper explanation relating to
material departures;
(ii) that the Directors have selected such accounting
policies and applied them consistently and made
ANNUAL REPORT 2011-12
25
judgments and estimates that were reasonable and
prudent so as to give a true and fair view of the
state of affairs of the Company as at the end of the
financial year 2011-12 and of the profit of the
company for that period;
(iii) that the Directors have taken proper and sufficient
care for the maintenance of adequate accounting
records in accordance with the provisions of the
Companies Act,1956 for safeguarding the assets
of the Company and for preventing and detecting
fraud and other irregularities;
(iv) that the Directors have prepared the annual
accounts for the financial year ended 31st March,
2012 on a ‘going concern’ basis.
CORPORATE GOVERNANCE
As per the requirements of Clause 49 of the Listing
Agreement a detailed report on Corporate Governance
together with the following is given at Annexure – III:
(i) CEO/CFO Certificate [as per Clause 49(V)] and
(ii) Certificate from the Company’s Auditors [as per
Clause 49(VII)].
OTHER DISCLOSURES
Information in accordance with the provisions of Section
217(1)(e) of the Companies Act, 1956 read with
Companies (Disclosure of Particulars in the Report of
the Board of Directors) Rules, 1988 regarding
conservation of energy, technology absorption and
foreign exchange earnings and outgo is given at
Annexure-IV.
None of the employees have drawn remuneration in
excess of the limits prescribed under section 217(2A)
of the Companies Act, 1956 read with Companies
(Particulars of employees) Rules, 1975 during the year
2011-12.
Statement pursuant to Section 212 of the Companies
Act, 1956 relating to Subsidiary Companies is given at
Annexure-V.
EVENTS OCCURRING AFTER THE BALANCE
SHEET DATE
There were no significant events occurring after the
Balance sheet date.