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

30
Electricity Department of Manipur for third party
inspections of 24755 villages in 30 districts of 4 states
which will accrue Rs.21 crore gross income to the
company. The company has established its material
inspections wing to inspect material under RGGVY & FRP
works at manufacturers’ facilities. The company has also
taken new initiatives by empanelling 16 business
associates / agencies for taking projects in IT
implementation and consultancy.
During the year ended 31st March, 2010, third party
inspection of about 15000 villages and 990 feeders were
completed by the company. In addition to this, material
inspections of more than 45000 Distribution Transformers
were completed.
25.4 Financial Performance during 2009-10
During the year ended 31 st March, 2010, RECPDCL has
been able to generate an Income of Rs. 10.01 crore and
Profit before Tax & Profit after Tax is Rs. 1.57 crore & Rs.
1.03 crore respectively. It is worthwhile to mention that
turnover of the company has doubled this year and net
worth reached to Rs.4.18 crore against initial capital
injected by REC of Rs.0.05 crore. For the year 2008-09,
the company had declared a dividend @ 100% on par
value and for the year 2009-10 also, the Board of Directors
have proposed a dividend @ 100%.
26. DETAILS OF UNCLAIMED SHARES
The Company went for a maiden public offer of
15,61,20,000 equity shares in February, 2008, which
comprised fresh issue of 7,80,60,000 equity shares by the
Company and an offer for sale of another equal number of
shares by the President of India.
Further, the Company went for a Follow on Public Offer
of 17,17,32,000 equity shares in February, 2010 which
comprised fresh issue of 12,87,99,000 equity shares by
the Company and offer for sale of 4,29,33,000 by the
President of India.
The details of unclaimed shares as on 31 st March, 2010 is
given as under :
Sl. Particulars No. of No. of
No. cases shares
involved
IPO – 1.4.2009 to 31.3.2010
1. Aggregate number of shareholders
and the outstanding unclaimed
shares as on 1.4.2009 659 56019
2. No. of shareholders who approached
for transfer of unclaimed shares
during the year. 242 21509
3. Number of shareholders to whom
unclaimed share were transferred. 242 21509
4. Aggregate number of shareholders
and the outstanding unclaimed
shares as on 31.3.2010. 417 34510
41st ANNUAL REPORT 2009-10
Sl. Particulars No. of No. of
No. cases shares
involved
FPO – 6.3.2010 to 31.3.2010
1. Aggregate number of shareholders
and the outstanding unclaimed
shares as on 6.3.2010 205 50790
2. No. of shareholders who approached
for transfer of unclaimed shares
during the year. 119 32370
3. Number of shareholders to whom
unclaimed share were transferred. 119 32370
4. Aggregate number of shareholders
and the outstanding unclaimed
shares as on 31.3.2010. 86 18420
27. FINANCIAL STATEMENTS / DOCUMENTS UNDER
SECTION 212 OF THE COMPANIES ACT, 1956.
On an application made by the Company, the Ministry of
Corporate Affairs, Government of India, vide its letter
dated 18.5.2010 has granted exemption to your Company
from attaching the financial statements of its subsidiary
companies for the financial year 2009-10, pursuant to
Section 212(8) of the Companies Act, 1956. Accordingly,
copies of the balance sheet, profit and loss account and
reports of the board of directors and auditors of the
subsidiaries have not been attached with the balance sheet
of the Company. However, these documents will be made
available upon request by any member of the Company
interested in obtaining the same. As directed by the Central
Government, the financial data of the subsidiaries has been
furnished in the Notes on consolidated financial
statements, which forms part of the Annual Report. The
annual accounts of the Company including that of
subsidiaries will be kept for inspection by any member.
Further pursuant to Accounting Standard-21 (AS-21)
prescribed under the Companies (Accounting Standard)
Rules, 2006, Consolidated Financial Statements presented
by the Company include financial information about its
subsidiaries.
28. STATUTORY AND OTHER INFORMATION
REQUIREMENTS
Information required to be furnished as per the Companies
Act, 1956, Listing Agreement with Stock Exchanges,
Government guidelines etc. is annexed to this report as
under :-
Particulars Annexure
Management Discussion & Analysis Report I
Company’s Report on Compliance with
Corporate Governance II
Certificate on Corporate Governance issued
by the Joint Statutory Auditors of the Company III
Statement pursuant to Section 212 (1) (e) of the
Companies Act, 1956 relating to
subsidiary companies. IV