SANSCO SERVICES - Annual Reports Library Services - www.sansco.net ANNUAL REPORT ACCOUNTS "If you don't quit, don't cheat& don't run home when troub e arrives, you can on y win." GUJARAT NRE COKE LIMITED 2000 - 2001 www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net BOARD OF DIRECTORS SHRI G. L. TANDON, Padma Bhushan (Chairman Emeritus) SHRI G. L. JAGATRAMKA (Chairman) SHRIA. K. JAGATRAMKA (Mg. Director) SHRI M, G, SHAH, LA.S.Retd. (Director) SHRI S. K. AGARWAL (Director) SHRI R. K. BANKA (Director) SHRIS. R.SARKER (Nominee, IIBI) BANKERS STATE BANK OF INDIA BANKOFBARODA INDUSIND BANK LTD. AUDITORS M/S. N. C. BANERJEE & CO. KOLKATA-700013 SOLICITORS & ADVOCATES M/S. L. P. TtWARI & CO. 1B, OLD POST OFFICE STREET, KOLKATA - 700 001 REGISTERED OFFICE BASANT TOWER 1,CLYDE ROW, HASTINGS, KOLKATA - 700 022. WORKS DHARAMPUR, KHAMBHALIA JAMNAGAR. GUJARAT NICHE TECHNOLOGIES PVT. LTD. C-444, BAGREE MARKET, 71, B. R.B. B. ROAD, KOLKATA - 700 001 www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net OUR BELOVED CHAIRMAN EMERITUS LATE SHRI M. C. BHATT (1919-2001) Shri Mulshankar Chhotalal Bhatt was born in 1919 in Bhavnagar (Gujarat) and was graduated (B.A) Sanskrit (Hons.) from the Shamaldas College, Bhavnagar. In the earlier part of his career, he was working as Secretary to Dhrangadhara State Council and by virtue of his hard work, sincerity and dedication, he had the good fortune of being selected by Sardar Vallabhbhai Patel Dy. Prime Minister of India as his Personal Secretary, Whom he served with loyalty and devotion and earned his confidence and trust. Later he joined Government of India, Ministry of Finance. During his tenure in the Ministry of Finance he worked as the Chief Executive of Indian Investment Centre, New Delhi with zeal and interest and contributed a great deal in attracting foreign investment in a large measure. Elevating himself by sheer merit, he retired as Joint Secretary and Controller of Capital Issues in January 1977, dealing with efficiency, difficult subjects as FERA (1973), Foreign Investment, Technology Transfer, etc. He was awarded the prestigious All India N.V. Gadgil Society Award for exemplary services in the field of social work. To quote a few, he was a founder Member of Gujarat Education Society which established Sardar Patel Vidyalaya, New Delhi. He had promoted Shri and Smt. C.R. Bhatt Centre for Informal Education and Entrepreneurship Development for women in Bhavnagar in co-operation with well known institution Bhavnagar Stree Kelavani Mandal. He actively participated in a number of social service activities and was a good think - tank. He was also a Trustee of Sardar Vallabhbhai Memorial Trust, Ahmedabad, Shreyas Pratisthan, Saraswati Vidyamandal, etc. He had given a number of talks on Sardar Patel at many places and is quite often invited by All India Radio & Doordarshan, Ahmedabad to give talks on various aspects of Sardar Pate! as well as on economic planning, NRI investment, etc. Shri Bhatt combined in himself a unique manner, expertise of a financial expert and devotion of dedicated social worker. He was the Guiding force in steering the Company in its difficult years and we remain committed to continue on the path set by him. -GUJARAT NRE COKE LTD. www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net NOTICE Notice is hereby given that the 15th Annual General Meeting of the members of Gujarat NRE Coke Ltd. will be held at Somany Conference Hall, 15B, Hemanta Basu Sarani. 2nd Floor, Kofkata - 700 001 on Thursday, the 21st March, 2002 at 11.30 A.M. to transact the following business :- ORDINARY BUSINESS 1. To consider and adopt the Audited Balance Sheet of the Company as at 30th September,2001 and the Profit & Loss Account for the year ended on that date together with the Reports of the Auditors and Directors thereon. 2. To appoint a Director in place of Mr. G.L. Jagatramka, who retires by rotation and being eligible, offers himself for re-appointment. 3. To appoint a Director in place of Shri R.K, Banka, who retires by rotation and being eligible, offers himself for re-appointment. 4. To Declare a Dividend on Equity Shares, if any. 5. To appoint Auditors of the Company and to fix their remuneration. SPECIAL BUSINESS 6. To consider and, if thought fit, to pass, with or without modifications, the following resolution as an ordinary resolution: "Resolved that Mr, Subodh Kumar Agarwal, be and is hereby appointed as a Director of the Company, whose period of office shall be subject to retirement by rotation:' 7. To consider and, if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution : "RESOLVED that subject to provisions of sections 198, 269 and 309 read with the schedule XIII and other applicable provisions, if any, of the Companies Act, 1956, the consent of the Company be and is hereby accorded to the re-appointment of Mr. Arun Kumar Jagatramka as the Managing Director of the Company w. e. f. 28.3.2002 on remuneration and perquisites as given below with Liberty to the Board of Directors to make and/or accept any variation in the said terms and conditions within the maximum limits stipulated under the schedule XIII to the Act." "RESOLVED further that the salaries and perquisites laid down under this resolution shall be considered as the minimum remuneration payable in case of loss and/or in-adequacy of profits in any year." "RESOLVED further that Shri Arun Kumar Jagatramka, on his re-appointment as above will be designated as the Vice-Chairman cum Managing Director." REMUNERATION & PERQUISITES REMUNERATION Rs. 6,00,OOQ/- (Rupees Six Lacs) per annum with authority to the Board of Directors to increase the salary from time to time within the parameters stipulated under schedule XIII to the Act. www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net GUJARAT NRE COKE LIMITED PERQUISITES In addition to salary, he shall be entitled to perquisites like rent free furnished accomodation, gas, electricity, water and furnishings, medical re-imbursement for self and family, leave travel allowance for self and family, club fees, personal accident insurance fete, in the undenoted scale : Perquisites shall be restricted to an amount equal to Anriual Salary. a) Residential Accommodation :- (i) Free furnished residential accommodation or in case the Company hires the accommodation, then expenditure incurred by the Company on hiring the same will be subject to a limit of 60% of salary or in case no accommodation is provided, the Managing Director shall be entitled to house rent allowance @60% of the salary. (ii) In addition, the actual expenditure incurred by the Company on gas, electricity and water, but the same will be valued as per Income Tax Rules, 1 962, subject to a ceiling of 10% of the salary. b) Re-imbursement of Medical Expenses for self and family : Subject to a Maximum of 1 months salary per annum or 3 months salary for a block of 3 years. c) Leave Travel Concession for sel^ and family : Once in a year to and from any destination in India. d) Leave : One months Leave with pay for 11 months service put in. e) Club Fees : The Company will reimburse the club fees as per the applicable rules. f) Personal Accident Insurance : Premium to be paid not exceeding Rs.7500/- per annum. g) Providend Fund Contribution : As per Company's rules but subject to 10% of salary which shall not be taken into account for computation of perquisites limit. h) Gratuity : As per Company's rules and shall not be taken into consideration for computation of perquisites limit. i) Free full time use of Company's car and telephone facilities at the residence, the value of which shall not be taken into consideration for computation of perquisites limit. The overall limits of remuneration shall be subject to the ceilings stipulated under schedule XIII to the Act. By Order of the Board Place : Jamnagar A. K. Jagatramka Date : 25th January, 2002 Managing Director. www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net GUJARAT NRE COKE LIMITED NOTES: 1 AMEMBER ENTITLED TO ATTEND AND VOTE ATTHE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY. Proxies in order to be effective must be received at the Registered Office of the Company not less than 48 hours before the time of Annual General Meeting. 2 An Explanatory Statement pursuant to Section 173(2) of the Companies Act, 1956 is annexed hereto. 3 The Register of the Members and Share Transfer Books of the Company will remain closed from the 9th day of March, 2002 to the 21st day of March, 2002 (both days inclusive). 4 Members, who are holding shares in identical order of names in more than one account, are requested to intimate to the Company, the ledger folios of such accounts together with the Share Certificate(s) to enable the Company to consolidate all holdings into one account. The Share Certificates will be returned to the members after making the necessary endorsements in due course. 5 Members desiring any information on the accounts at the Annual General Meeting are requested to write to the Company atleast ten days in advance, so as to enable the Company to keep the information ready. 6 Members are requested to kindly bring their copies of the Report and Accounts to the meeting. 7 Members are requested to notify changes in their mailing address, if any.