REC- 1-51.p65 - Rural Electrification Corporation Ltd.
REC- 1-51.p65 - Rural Electrification Corporation Ltd.
REC- 1-51.p65 - Rural Electrification Corporation Ltd.
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the Company are published in leading newspapers and also<br />
hosted on the website of the Company.<br />
iv. Audit Qualification: There are no audit qualifications.<br />
v. Training to Board Members: It is need based.<br />
vi. Mechanism for evaluating non-executive Board Members:<br />
No mechanism in place.<br />
vii. Whistle Blower Policy: The Company has not accepted any<br />
separate “Whistle Blower” policy. However, under the<br />
provisions of “Policy for Prevention of Frauds” adopted by<br />
the Company, a Whistle Blower mechanism is in place for<br />
detection, prevention and reporting of fraud. This policy<br />
applies to any fraud or suspected fraud involving employees<br />
as well as shareholders, consultants, vendors, lenders,<br />
borrowers, contractors, outside agencies doing business with<br />
the Company, employees of such agencies, and/or any other<br />
parties with a business relationship with the Company. All<br />
reports of fraud or suspected fraud are investigated with<br />
utmost speed by the nodal officer(s) nominated for the<br />
purpose.<br />
9. Means of Communication<br />
The Company communicates with its shareholders through<br />
its Annual Report, General Meetings and disclosures through<br />
website. All important information pertaining to the<br />
Company is also mentioned in the Annual Report for each<br />
financial year containing inter alia Audited Accounts,<br />
Directors Report, Auditors Report, Report on Corporate<br />
Governance and Non Banking Financial Companies<br />
Auditors’ Report which is circulated to the members and<br />
others entitled thereto.<br />
The Company also communicates with its institutional<br />
shareholders through investor conferences.<br />
Quarterly/Half yearly/Annual Financial Results of the<br />
Company are communicated to the Stock Exchange and<br />
published in financial and national newspapers like The<br />
Economic Times, The Times of India, Hindustan Times,<br />
Hindustan Times (Hindi), Navbharat Times, Business<br />
Standard, Mint, Financial Express, Hindu etc. These results<br />
are also made available on Company’s Website at<br />
www.recindia.nic.in.<br />
10. CEO/CFO certification<br />
As required by Clause 49 of the Listing Agreement, a<br />
Certificate duly signed by Shri P. Uma Shankar, Chairman<br />
and Managing Director and Shri H.D. Khunteta, Director<br />
(Finance) was placed before the Board of Directors in its<br />
Meeting held on 19th 11.<br />
May 2010 while consideration of the<br />
Audited Annual Accounts of the Company for the period<br />
ended 31.03.2010.<br />
General Shareholder Information<br />
(i) Annual General Meeting for 2009-10<br />
Date Time Venue<br />
8th September, 11.00 A.M. Air Force Auditorium,<br />
2010 Subroto Park, Dhaula<br />
Kuan,<br />
New Delhi- 110010<br />
41st ANNUAL REPORT 2009-10<br />
(ii) Financial Calendar for Year 2010-11:<br />
Particulars Date<br />
Accounting Period April, 1, 2010 to March, 31, 2011<br />
Unaudited Financial Announcement within 45 days<br />
Results for the first from the end of the each quarter<br />
three Quarters<br />
Fourth Quarter Results Announcement of Audited Annual<br />
Accounts within 60 days from the<br />
end of financial year<br />
AGM (next year) September 2011 (Tentative)<br />
(iii) Payment of Dividend<br />
A. Dividend for the financial year 2009-10<br />
(1) Interim Dividend Details:<br />
In pursuance of Article 104 of the Articles of Association of<br />
the Company read with Section 205 of the Companies<br />
Act,1956 and Companies (Transfer of Profits to Reserves),<br />
the Company paid an Interim Dividend of Rs.3 per Equity<br />
Share (on the face value of Rs. 10/- each) in the month of<br />
January 2010 for the financial year 2009-10.<br />
(2) Final Dividend Details:<br />
The Board of Directors in its meeting held on 19.05.2010<br />
has recommended a final dividend of Rs.3.50 per Share<br />
(on the face value of Rs.10/-each) for the year 2009-10<br />
for approval of the shareholders in the ensuing Annual<br />
General Meeting to be held on 08.09.2010.The total<br />
dividend (including interim dividend) for the financial year<br />
2009-10 will be Rs.6.50/- per share (on the face value of<br />
Rs.10/- each)<br />
B. Dividend History for the last five years<br />
Year Total Paid Total Rate of Date of<br />
–up Capital Amount Dividend Payment<br />
(Rs. in crore) of Dividend<br />
Paid (Rs. in<br />
crore)<br />
(%) (Interim & Final)<br />
2004-05 780.60 234.50 30.04% 24th February, 2005<br />
(Interim) & 29th September, 2005 (Final)<br />
2005-06 780.60 191.26 24.50% 2nd March, 2006<br />
(Interim) & 25th September, 2006 (Final)<br />
2006-07 780.60 177 22.67% 5th October, 2007 (Final)<br />
2007-08 858.66 257.60 30% 1 st October, 2008 (Final)<br />
2008-09 858.66 386.40 45% 5th March, 2009<br />
(Interim) & 25th September, 2009 (Final)<br />
(iv) Date of Book Closure<br />
The Register of Members and Share Transfer Books of the<br />
Company will remain closed from 26th August 2010 to 8th September 2010 (both days inclusive).<br />
(v) Record Date for Payment of Final Dividend<br />
The Record date for the Payment of Final Dividend for the<br />
Financial Year 2009-10 is 25 th August 2010.