REC- 1-51.p65 - Rural Electrification Corporation Ltd.

RURAL ELECTRIFICATION CORPORATION LIMITED
5. Corporate Members are requested to send a duly certified copy of the Board Resolution / Power of Attorney authorizing their
representative to attend and vote on their behalf at the Annual General Meeting.
6. Members are requested to:-
a. note that copies of Annual Report will not be distributed at the Annual General Meeting and they will have to bring their
copies of Annual Report;
b. deliver duly completed and signed Attendance Slip at the entrance of the meeting venue as entry to the Auditorium will be
strictly on the basis of the Entry Slip available at the counters at the venue to be exchanged with the Attendance Slip;
c. quote their Folio / Client ID & DP ID Nos. in all correspondence;
d. note that due to security reasons brief cases, eatables and other belongings are not allowed inside the Auditorium; and
e. note that no gifts / coupons will be distributed at the Annual General Meeting.
7. Members are advised to submit their Electronic Clearing System (ECS) mandates, to enable the Company to make remittance by
means of ECS. Those holding shares in physical form may obtain and send the ECS mandate form to Registrar and Share Transfer
Agent (R & TA) of the Company i.e. Karvy Computershare Private Limited, at Plot No. 17- 24, Vittalrao Nagar, Madhapur, Hyderabad
- 500 081, India. Those holding shares in Electronic Form may obtain and send the ECS Mandate Form directly to their Depository
Participant (DP). Those who have already furnished the ECS Mandate Form to the Company /Registrar and Share Transfer Agent / DP
with complete details need not send it again.
The Members who do not wish to opt for ECS facility may please mail their bankers’ name, branch address and account number to
Karvy Computershare Private Limited, Registrar and Share Transfer Agent of the Company to enable them to print these details on
the dividend warrant.
8. Members are requested to send all correspondence concerning registration of transfers, transmissions, subdivision, consolidation of
shares or any other shares related matter and / or change in address and bank account, to Karvy Computershare Private Limited,
Registrar and Share Transfer Agent of the Company.
9. Pursuant to Section 205A read with Section 205C of the Companies Act, 1956, the dividend amounts which remain unpaid/unclaimed
for a period of seven years, are required to be transferred to the Investors Education & Protection Fund of the Central Government.
After such transfer, there remains no claim of the members whatsoever on the said amount. Therefore, members are advised to
encash their Dividend warrants immediately on receipt.
10. Pursuant to Section 619(2) of Companies Act, 1956, the Auditors of a Government Company are to be appointed or re-appointed by
the Comptroller and Auditor General (C&AG) of India and, in terms of Section 224 (8) (aa) of the Companies Act, 1956, their
remuneration shall be fixed by the company in general meeting or in such manner as the company in general meeting may determine.
In pursuance of the same, C&AG of India had appointed M/s Bansal & Co. and M/s K.G.Somani & Co., Chartered Accountants, as Joint
Statutory Auditors for the financial year 2009-10.
In the 38th Annual General Meeting (AGM) held on 27th September, 2007 the Board of Directors was authorized for fixation of annual
audit fee to the Statutory Auditors on year to year basis as and when the appointment of Statutory Auditors is notified by the C & AG
of India in pursuance of Section 224 (8) (aa) of the Companies Act, 1956. Accordingly, the Board of Directors in their 352nd Meeting
held on 1st September 2009 approved payment of remuneration of Rs. 6,25,000/- (Rupees Six Lakh Twenty Five Thousand Only) for
each of the joint Statutory Auditors plus service tax as applicable, for the financial year 2009-10. Further, the Board also approved
that in addition to the above remuneration, the Statutory Auditors may be paid such actual reasonable traveling allowance and out of
pocket expenses for outstation audit work, as may be decided by CMD/ Director (Finance).
The Auditors for the financial year 2010-11 are yet to be appointed by the C&AG of India. As a better Corporate Governance practice,
it is proposed to obtain approval of the Company in general meeting on year to year basis to fix the remuneration of Auditors from the
financial year 2010-11 onwards. Approval of the Company in general meeting is therefore requested to authorize the Board of
Directors of the Company to fix the remuneration of the Statutory Auditors/ Joint Statutory Auditors of the Company, as it deems fit,
as and when the Auditors are appointed by the C&AG of India for the financial year 2010-11.
11