Annual Report on CSR Activities Forms Part of the Directors’ Report
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1 2 3 4 CONTENTSVision & Management Bankers Board Notice Mission During the year & of Statement Auditors Directors 04 05 09 10 12 Chairman’s Operational Directors’ CSR Report R&D and Report Statement Statistics Report on Corporate Governance 13 16 33 106 114 Management Discussion CEO And CFO Statutory Auditor’s Comptroller & and Certification Report and Replies Auditor General Analysis Report of Management of India Report 119 126 128 166 Secretarial Auditor’s Balance Sheet Profit & Loss Statement of flow Report Account of Cash and Cash Equivalent 168 172 174 176 Statement of changes Corporate Significant Notes to in equity Information Accounting Balance Sheet Policy 177 178 179 199 Notes to Profit Regulation 33 of Additional Notes Other Details & Loss the SEBI on Accounts (Enclosures) Account ( ₹ In Crore) 225 239 240 270 5 Vision The vision of Bharat Coking Coal Limited (BCCL) is to produce Raw Coking Coal for fulfilling the country’s need having an organization and culture committed towards sustainable growth through best practices from mine to market. Mission The Mission of Bharat Coking Coal Limited (BCCL) is to Produce planned quantity of coal Efficiently and Economically in an Eco-friendly manner with due regard to Safety, Conservation and Quality. 6 भारत कोकिंग कोल िलिमिटेड पं.का.:-कोयला भवन कोयला नगर, धनबाद –826005 Regd. Off: Koyla Bhawan, Koyla Nagar Dhanbad – 826005 Bharat Coking Coal Limited CIN: U10101JH1972GOI000918 (A Mini Ratna Company) दूरभाष: 0326-2230190/ फ़ेक्स -0326-2230050 (A Subsidiary of Coal India Ltd.) (www.bcclweb.in) ईमेल: [email protected] बोड㔡 सििवालय/Board Secretariat Ref. No.BCCL: CS: F-AGM/2019/274 Dated: 01.07.2019 Notice of postponed AGM Members/ Directors/ Auditors including Secretarial Auditor are hereby informed that, due to unforeseen and unavoidable circumstances, the 48th Annual General Meeting of Bharat Coking Coal Limited which was scheduled to have been held on Tuesday the 2nd July, 2019, will now be held on Monday the 8th July, 2019, at 12.00 noon at Coal Bhawan, Premise No-04 MAR, Plot No-AF-III, Action Area-IA, Newtown, Rajarhat, Kolkata-700156, to consider the business mentioned in the Notice dated 27th June, 2019 which had been sent to Members/ Directors/ Auditors including Secretarial Auditor in connection with the Meeting originally scheduled to have been held on 2nd July, 2019. By Order of the Board (B.K. Parui) Company Secretary REGISTERED OFFICE: Koyla Bhawan, P.O.: Koyla Nagar, Dist.: Dhanbad Dated: 01.07.2019 7 भारत कोकिंग कोल िलिमिटेड पं.का.:-कोयला भवन कोयला नगर, धनबाद –826005 Regd. Off: Koyla Bhawan, Koyla Nagar Dhanbad – 826005 Bharat Coking Coal Limited CIN: U10101JH1972GOI000918 (A Mini Ratna Company) दूरभाष: 0326-2230190/ फ़ेक्स -0326-2230050 (A Subsidiary of Coal India Ltd.) (www.bcclweb.in) ईमेल: [email protected] वोड㔡 सििवालय / Board Secretariat Ref. No.BCCL:CS:F-AGM/2019/270 Dated: 27.06.2019 Notice Notice is hereby given to all the Shareholders, Directors and Auditors including Secretarial Auditor of Bharat Coking Coal Limited that the 48th Annual General Meeting of Bharat Coking Coal Limited will be held at its Registered Office, Koyla Bhawan, P.O. Koyla Nagar, Dhanbad on Tuesday the 2nd July, 2019 at 11.30 AM to transact the following businesses: ORDINARY BUSINESS 1) To consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2019 including the Audited Balance Sheet as at 31st March, 2019 and Statement of Profit & Loss for the year ended on that date together with the Reports of Board of Directors, Statutory Auditor and Comptroller & Auditor General of India thereon. 2) To appoint a Director in place of Shri R.S. Mahapatra, DIN No. 08035574 who retires by rotation in terms of Section 152(6) of the Companies Act 2013 and being eligible, offers himself for re- appointment. 3) To appoint a Director in place of Shri Binay Dayal, DIN No. 07367625 who retires by rotation in terms of Section 152(6) of the Companies Act 2013 and being eligible, offers himself for re- appointment. SPECIAL BUSINESS: Item No. 1. To consider and if thought fit, to pass with or without modifications, the following resolutions as Ordinary Resolution: Resolved that pursuant to the provisions of Section 148(3) of the Companies Act, 2013 read with rule 14 of the Companies (Audit and Auditors) Rules, 2014 (including any other statutory modification(s) or re-enactment thereof for the time being in force), the remuneration of Cost Auditors for the financial year 2018-19 (inclusive of out of pocket expenses) of ₹11,48,796.00 (Rupees eleven lakhs forty-eight thousand seven hundred ninety-six only) GST extra, as applicable as approved by the Board of Directors of the Company vide resolution no. 346.5F of 346th Board meeting held on 14.09.2018 be and is hereby ratified. Item No. 2. To consider and if thought fit, to pass with or without modifications, the following resolutions as Special 8 Resolution: RESOLVED THAT pursuant to the provisions of section 149, 152 and any other applicable provisions of the Companies Act, 2013 as amended by Companies (Amendment) act, 2017 and the rules made there under (including any statutory modification(s) or re-enactment thereof for the time in force) and provisions of any other guidelines issued by the concerned authority Dr. A. K. Lomas (DIN 01377523), be and is hereby reappointed as Independent Director of the Company with effect from 17.11.2018 till 16.11.2019 or until further orders, whichever is earlier, in terms of Ministry of Coal, Govt. of India letter no. 21/33/2018-BA(i) dated 17.11.2018. He is not liable to retire by rotation. RESOLVED FURTHER THAT the Board be and is hereby authorized to do all acts, deeds and things as it may in its absolute discretion deem necessary and appropriate to give effect to the above resolution. Item No. 3. To consider and if thought fit, to pass with or without modifications, the following resolutions as Special Resolution: RESOLVED THAT pursuant to the provisions of section 149, 152 and any other applicable provisions of the Companies Act, 2013 as amended by Companies (Amendment) act, 2017 and the rules made there under (including any statutory modification(s) or re-enactment thereof for the time in force) and provisions of any other guidelines issued by the concerned authority Dr. H.S. Yadav (DIN 07358451), be and is hereby reappointed as Independent Director of the Company with effect from 17.11.2018 till 16.11.2019 or until further orders, whichever is earlier, in terms of Ministry of Coal, Govt. of India letter no. 21/33/2018-BA(i) dated 17.11.2018. He is not liable to retire by rotation. RESOLVED FURTHER THAT the Board be and is hereby authorized to do all acts, deeds and things as it may in its absolute discretion deem necessary and appropriate to give effect to the above resolution. Annexure to Notice Explanatory statement pursuant to Section 102 of the Companies Act, 2013 As required by Section 102 of the Companies Act, 2013, the following explanatory statement sets out all material facts relating to the business mentioned under Item No. 1, 2 & 3 of the accompanying notice dated 27.06.2019. Item No. 1. Ratification of the remuneration of Cost Auditor appointed by the Board u/s 148 of Companies Act, 2013 The Board of Directors approved the appointment of Cost Auditors of the Company for the Financial Year 2018- 19 in its 346th meeting held on 14.09.2018. The Board also approved the remuneration (inclusive of out of pocket expenses) of the Cost Auditors for the financial year 2018-19. Pursuant to Section 148 of the Companies Act, 2013 read with Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the remuneration of the Cost Auditors recommended by the Audit Committee and approved by the Board of Directors needs to be ratified subsequently by the Shareholders. The Board of Directors approved the remuneration of Cost Auditors for ratification by the shareholders of the Company. None of the Directors, Key Managerial Personnel and their relatives are concerned or interested in the said resolution except to the extent of shares held by them in the Company. 9 Item No. 2. Re-appointment of Dr. A.K. Lomas as Independent Director on the Board of Directors of BCCL. In terms of Ministry of Coal, Govt. of India letter no. 21/33/2018-BA(i) dated 17.11.2018, Dr. A.K. Lomas (DIN 01377523) was given re-appointment as Independent Director on the Board of the Company with effect from 17.11.2018 till 16.11.2019 or until further orders, whichever is earlier. Accordingly, he was re-appointed as non- official part-time Director in 348th Board Meeting of BCCL held on 29.01.2019. The Company has received from him (i) consent in writing to act as director in Form DIR 2 pursuant to Rule 8 of companies (Appointment &Qualification of Directors) rules 2014, (ii) intimation in Form, DIR 8 in terms of Companies (appointment & Qualification of Directors) Rules 2014, to the effect that he is not disqualified under subsection (2) of Section 164 of the Companies Act, 2013. This resolution seeks the approval of the members for re-appointment of Dr. A.K. Lomas as Independent Director of the Company from 17.11.2018 till 16.11.2019 or until further orders, whichever is earlier in terms of Ministry of Coal, Govt.