1 Contents Page No. 1. Notice 2. Management 3. Bankers & Auditors
Total Page:16
File Type:pdf, Size:1020Kb
Contents Page No. 1. Notice 2. Management 3. Bankers & Auditors 4. Directors’ Report and Corporate Governance Report. 5. Comments of the Comptroller and Auditor General of India 6. Statutory Auditor’s Report and replies of Management. 7. Balance Sheet 8. Profit & Loss Account 9. Schedule to Balance Sheet 10. Schedule to Profit and Loss Account 11. Accounting Policy 12. Notes on Accounts 13. Particulars of Employee 1 BHARAT COKING COAL LIMITED (A subsidiary of coal India Ltd.) KOYLA BHAWAN, KOYLA NAGAR, DHANBAD Board Secretariat Ref.No.BCCL:CS: F-AGM/2013/ 389 Dated : 20.05.2013 NOTICE Notice is hereby given to all the Shareholders of Bharat Coking Coal Limited that the 42nd Annual General Meeting of Bharat Coking Coal Limited will be held on 27.05.2013(monday) at 11.00 AM at the Registered Office, Koyla Bhawan, P.O. Koyla Nagar, Dhanbad to transact the following businesses: ORDINARY BUSINESS 1) To receive, consider and adopt the audited Balance Sheet as at 31st March, 2013 and the Profit & Loss Account for the year ended on that date along with Auditor’s Report and Directors’ Report thereon. 2) To appoint a Director in place of Shri N. Kumar, who retires in terms of Article 34(i) (e) (iii) of the Articles of Association of the Company, and is eligible for re- appointment. 3) To appoint a Director in place of Shri Hemant Jain, who retires in terms of Article 34(i) (e) (iii) of the Articles of Association of the Company, and is eligible for re-appointment. By Order of the Board (K.N. Mukhopadhyay) G.M.(Company Secretary) REGISTERED OFFICE: Koyla Bhawan, P.O.: Koyla Nagar, Dist.: Dhanbad Dated:20.05.2013 Note: 1. Member entitled to attend and vote at the meeting is entitled to appoint a PROXY to attend and vote instead of himself and the PROXY need not be a member. A proxy form is enclosed. 2. The shareholders are requested to give their consent for calling the Annual General Meeting at a shorter notice pursuant to the provisions of Section 171(2)(i) of the Companies Act, 1956. 2 MANAGEMENT DURING THE YEAR 2012-13 CHAIRMAN-CUM-MANAGING DIRECTOR Shri T.K.Lahiry : From 01.11.2008; continuing FULL TIME DIRECTORS Shri P.E. Kachhap : Personnel ( from 11.07.2007; continuing) Shri D.C.Jha : Technical (from 27.10.2009; continuing) Shri Amitava Saha : Finance (from 02.08.2011; continuing) Shri Ashok Sarkar : Technical (from 25.08.2011; continuing) PART TIME DIRECTORS Shri N.Kumar : Director (Tech.), CIL, Kolkata (from 29.02.2012; continuing) Shri P.Soma Shekar Reddy : Director, Ministry of Coal, New Delhi (from 13.01.2012 to 11.04.2013) Shri Paul Joshep : Non-official Part-time Director (from 25.06.2011; continuing) Shri B.Ramesh Kumar : Non-official Part-time Director (from 25.06.2011 ; continuing) Dr. B.B.Biswal : Non-official Part-time Director (from 25.06.2011; continuing) Shri S.B. Ghosh Dastidar : Non-official Part-time Director (from 31.01.2012;continuing) Shri P.R. Mandal : Non-official Part-time Director (from 12.02.2013; continuing) PERMANENT INVITEES Shri G.K.Mohanty : Chief Operation Manager S.E. Railway, Kolkata (From 31.01.1012; continuing) Shri A.K.Sarkar : Secretary Mines & Geology Department Govt. of Jharkhand, Ranchi (from 30.09.2011 to 20.04.2013) 3 BANKERS & AUDITORS BANKERS State Bank of India United bank of India Bank of India Punjab National Bank UCO Bank ICICI BANK AUDITORS Statutory Auditors M/s. Anand Rungta & Co. Chartered Accountants, Patna BRANCH AUDITORS M/s. Bhartiya & Associates Chartered Accountants, Dhanbad M/s. Ahsan Anil Negi & Co. Chartered Accountants, Dhanbad M/s. Naha,Dhar,Kapur & Co. Chartered Accountants, Burdwan M/s. B. Mukharjee & Co. Chartered Accountant, Kolkata M/s. Kay & Kay & Associates Chartered Accountants, Kolkata M/s. Kadmawala & Co. Chartered Accountants, Ranchi M/s. Dutta P Kumar & Associates Chartered Accountants, Giridih M/s. R.K.Patnia & Co. Chartered Accountants, Dhanbad M/s Sanjay Rajoria & Associates Chartered Accountants, Ranchi 4 MANAGEMENT AS ON 27th May, 2013 CHAIRMAN-CUM-MANAGING DIRECTOR Shri T.K.Lahiry WHOLE TIME DIRECTORS Shri P.E. Kachhap : Director(Personnel) Shri D.C.Jha : Director (Technical) Shri Amitava Saha : Director (Finance) Shri Ashok Sarkar : Director (Technical) PART TIME DIRECTORS Shri N.Kumar : Director(Tech), CIL ,Kolkata Shri Hemant Jain : Director, Ministry of Coal, New Delhi Shri Paul Joshep : Non-official Part time Director Shri B.Ramesh Kumar : Non-official Part-time Director Dr. B.B.Biswal : Non-official Part-time Director Shri S.B. Ghosh Dastidar : Non-official Part-time Director Shri P.R. Mandal : Non-official Part-time Director PERMANENT INVITEES Shri G.K.Mohanty : Chief Operation Manager S.E. Railway, Kolkata . Shri S.K. Barnwal : Secretary, Mines & Geology Deptt. Govt. of Jharkhand, Ranchi COMPANY SECRETARY Shri K.N. Mukhopadhyay 5 DIRECTORS’ REPORT To The Shareholders Bharat Coking Coal Limited Dhanbad Sirs, I have a great pleasure in presenting to you, on behalf of the Board of Directors, the 42nd Annual Report of Bharat Coking Coal Limited along with Audited Accounts for the year ended 31st March, 2013. The Company has earned a profit of Rs.1498.80 crore against a profit of Rs. 822.36 crore for the previous year. The Audited Statement of Accounts, Auditors’ Report thereof and the comments of Comptroller & Auditor General of India are annexed to this Report. 1.0 OVERVIEW OF PERFORMANCE DURING 2012-13 1.1 Coal Production The raw Coal production during 2012-13 is 31.211MT compared to that of 30.203 MT over last year. In 2012-13, there is a growth in coal production of (+) 3.34% over the previous year. Coal production as per MOU target assuming liquidation as per programme without increasing stock is 31.00 MT. 1.2 OBR Overburden removal including re-handling achieved during the year 2012-13 was 96.251 million cubic metre compared to the target of 85.00 million cubic metre. The achievement was 113.24% of the target. Compared to the achievement of 88.763 million cubic metre in 2011-12, the growth is (+) 8.44%. 1.3 Productivity : Output per manshift (OMS) Overall output per manshift (OMS) was 2.50 tonnes against 2.20 tonnes in 2011-12. The growth is (+) 13.64%. As Per MOU: Man Productivity (Output/Manshift-Overall) (Commensurate to corresponding to production target) 2.37Te./Manshift 1.4 Wagon Loading Wagon loading in 2012-13 averaged 3094 FWs/day compared to the actual of 2941 FWs/day in 2011-12. This represents a growth of (+) 5.20 % over the previous year. 1.5 Coal Offtake Total coal offtake during 2012-13 stood at 33.041 million tonnes against 30.157 million tonnes in 2011-12 with a growth of (+) 9.56% As Per MOU: Coal Offtake commensurate with rake requirement is 31.80 Mte. 1.6 Supply of washed & direct feed coal 6 Supply of washed & direct feed coal to the steel sector was 13.73 lakh tonnes in 2012- 13 ( includes DF 0.026 MT) against 15.03 lakh tonnes in 2011-12. This represents a growth of (-) 8.65% over the previous year. This was due to low off-take of direct feed coal by steel plants. As Per MOU Washed Coal production- Coking inclusive DF & NC is 2.00Mte. 2. MANAGEMENT: a) The affairs of the Company during the period from 01.04.2012 to 31.03.2013 have been managed by the following members of the Board. 1. Shri T.K. Lahiry : From 01.11.2008 ; Continuing Chairman-cum-Mg. Director 2. Shri P. Soma Shekar Reddy : From 13.01.2012 to 11.04.2013 Director 3. Shri N. Kumar, Director : From 29.02.2012 ; Continuing 4. Shri P.E.Kachhap, Director From11.07.2007 Continuing 5. Shri D.C. Jha, Director : From 27.10.2009 ; Continuing 6. Shri Amitava Saha : From 02.08.2011 ; Continuing 7. Shri Ashok Sarkar, Director : From 25.08.2011 ; Continuing 8. Shri Paul Joseph, : From 25.06.2011 ; Continuing Independent Director 9. Shri B. Ramesh Kumar, ; From 25.06.2011 ; Continuing Independent Director 10. Dr. B.B. Biswal, : From 25.06.2011 ; Continuing Independent Director 11. Shri S.B. Ghosh Dastidar : From 31.01.2012 ; Continuing Independent Director 12. Shri P.R. Mandal : From 12.02.2013 ; Continuing Independent Director 13. Shri G.K. Mohanty : From 31.01.2012 ; Continuing Permanent Invitee 14. Shri A.K. Sarkar : From 30.09.2011 to 20.04.2013 Permanent Invitee b) Eleven Board Meetings were held during the year 2012-13. 3. PRODUCTION PERFORMANCE 3.1 Production of Raw Coal 3.1.1 During the year 2012-13 the company achieved overall coal production of 31.211million tonnes compared to the achievement of 30.203 million tonnes in the previous year. 3.1.2 Comparative figures of achievement in respect of underground and opencast production for 2012-13 and 2011-12 are shown below. : 7 (Fig. In Million Tonnes) Mines 2012-13 2011-12 Target Actual Target Actual Underground Production 4.75 3.153* 4.500 3.483 Opencast production 26.25 28.058* 25.700 26.720 Total 31.00 31.211 30.200 30.203 *UG production got affected due to stoppage and restriction of production from some of the UG mines due to safety reasons and due to non-starter of proposed mega UG Mines for 2012-13. As Per MOU: Under Ground Production of Coal = 4.75 Mte. 3.1.3 Break up of raw coal production into coking coal & non-coking coal during the year 2012-13 was as under: (Fig. in Million Tonnes) 2012-2013 2011-2012 1.