SANSCO SERVICES - Annual Reports Library Services - www.sansco.net STEEL flUTHORITV OF IflDIR LimiTED www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net Board of Directors As on 31.07.1999 Chairman Bankers Shri Arvind Pande State Bank of India Bank of Baroda Managing Directors Canara Bank Bhilai Steel Plant Punjab National Bank Shri V Gujral United Bank of India Syndicate Bank Union Bank of India Durgapur Steel Plant Bank of India Shri S.B. Singh Indian Overseas Bank Oriental Bank of Commerce Bokaro Steel Plant Central Bank of India Shri B.K. Singh UCO Bank State Bank of Patiala Punjab & Sind Bank Rourkela Steel Plant 10 Shri A.K. Singh Allahabad Bank Jammu & Kashmir Bank Limited State Bank of Saurashtra Functional Directors 43 State Bank of Hyderabad Finance ANZ Grindlays Bank Shri V.S. Jain Bank of Maharashtra State Bank of Indore 50 Commercial China Trust Commercial Bank Shri M.K. Moitra Bank of America State Bank of Bikaner & Jaipur Projects Times Bank 53 Shri S.C.K. Patne Deutsche Bank State Bank of Mysore 62 Research & Development State Bank of Travancore Dr. S.K. Bhattacharyya Vijaya Bank Indian Bank The Karnataka Bank Ltd. 65 Operations & Raw Materials Shri S. Pandey Statutory Auditors M/s. S.R. Batliboi & Co. Imji Stock Exchanges 66 Directors Chartered Accountants Shri G.S. Garcha Shri A.M. Jung M/s. Ray & Ray liaty Compani Dr. Atul Sarma Chartered Accountants Report and Shri D. Basu M/s. Fraser & Ross ftS Dr.Y.R.K. Reddy Chartered Accountants Shri K.S. Rajendra Kumar M/s. A.K. Sabat & Co. Chartered Accountants 11 WflKfian Iron & Steel 67 Secretary M/s. S.N. Nanda & Co. Company limited Shri R.K. Garg Chartered Accountants jshtra Registered Office ismelt Limited 91 Ispat Bhawan, Lodi Road, New Delhi-110003 Phone: 4367481; Fax : 4367015 Gram: STEELINDA Internet: www.sail.co.in E-Mail: [email protected] www.reportjunction.com SANSCO SERVICES - Annual Repuils Library 8ei vices - www.saiisfu.uei Board of Directors As on 31.07.1999 Chairman Bankers Shri Arvind Pande State Bank of India Bank of Baroda NTENTS Managing Directors Canara Bank Bhilai Steel Plant Punjab National Bank Shri V. Gujral United Bank of India Syndicate Bank Union Bank of India Durgapur Steel Plant Bank of India Shri S.B. Singh Report Indian Overseas Bank Oriental Bank of Commerce Bokaro Steel Plant Central Bank of India 1CM&ar Digest Shri B.K. Singh UCO Bank State Bank of Patiala Punjab & Sind Bank Rourkela Steel Plant Annual Accounts 10 Shri A.K. Singh Allahabad Bank Jammu & Kashmir Bank Limited State Bank of Saurashtra Functional Directors fi AucJBors* Report 43 State Bank of Hyderabad Finance ANZ Grindlays Bank Shri VS. Jain Bank of Maharashtra State Bank of Indore OfC&AG 50 Commercial China Trust Commercial Bank Shri M.K. Moitra Bank of America State Bank of Bikaner & Jaipur 7 Review of Accounts Projects Times Bank byC&AG 53 Shri S.C.K. Patne Deutsche Bank State Bank of Mysore 8 Cash Flow Statement 62 Research & Development State Bank of Travancore Dr. S.K. Bhattacharyya Vijaya Bank Indian Bank The Karnataka Bank Ltd. Executives 65 Operations & Raw Materials Shri S. Pandey Statutory Auditors 10 List of Stock Exchanges 66 M/s. S.R. Batliboi & Co. Directors Chartered Accountants Shri G.S. Garcha Shri A.M. Jung M/s. Ray & Ray Subsidiary Companies' Dr. Atul Sarma Chartered Accountants Annual Report and Shri D. Basu M/s. Fraser & Ross Accounts Dr.YR.K. Reddy Chartered Accountants Shri K.S. Rajendra Kumar M/s. A.K. Sabat & Co. Chartered Accountants 11 The Indian I ron & Steel Company Limited 67 Secretary M/s. S.N. Nanda & Co. Shri R.K. Garg Chartered Accountants 12 Maharashtra Registered Office Eiektrosmett Limited 91 Ispat Bhawan, Lodi Road, New Delhi-110003 Phone: 4367481; Fax : 4367015 Gram: STEELINDA Internet: www.sail.co.in E.Mail: [email protected] www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net Notice STEEL AUTHORITY OF INDIA LIMITED REGISTERED OFFICE: ISPAT BHAWAN, LODI ROAD NEW DELHI-110003 NOTICE IS HEREBY GIVEN THAT the 27th Annual General Article 84(23) Meeting of the Members of Steel Authority of India Limited will be To effect To effect organisational restructuring held at 1030 hours on Wednesday, the 22nd September, 1999 at organisational including establishment of profit Air Force Auditorium, Subroto Park, New Delhi-110010 to transact restructuring centres, opening of offices in India and the following business: abroad, creating new activity centres 1. To receive, consider and adopt the audited Profit & Loss etc. Account for the year ended 31 st March, 1999, the Balance Article 84(24) Sheet as at that date and Directors' and Auditors' Report;; To structure To structure and implement schemes thereon. personnel schemes relating to personnel and human 2. To appoint Directors in place of those retiring. resource management, training, voluntary or compulsory retirement schemes, etc. 3. To consider and, if thought fit, to pass with or without b) "RESOLVED FURTHERTHAT approval of the Shareholders modification the following resolution as SPECIAL be and is hereby accorded to the substitution of Article 57, RESOLUTION: Article 58, Article 73(b)(viii), Article 84(12), Article 84(18)(i) a) "RESOLVEDTHAT approval of the Shareholders be and is and Article 84(19) of the Articles of Association of the hereby accorded to the renumbering of Article 20 and Article Company by the following Articles: 22 of the Articles of Association of the Company as Article Article 57 20{a) and Article 22(a) respectively and also to the Subject to the provisions of the Act, these Articles and the amendment of Articles of Association by inserting the Article extant guidelines/instructions, if any, of the Government of 20(b), Article 22(b), Article 84(21), Article 84(22), Article India in this regard, the directors shall have the power to 84(23) and Article 84(24) as follows : pass a resolution at a meeting of the Board and not by Article 20(b) circulation to raise or borrow or secure the payment of any Transfer of shares Notwithstanding any provisions sum or sums of monies for the purposes of the Company in Electronic Form contained in these articles regarding provided that the total amount borrowed at any time together certificates/transfer/transmission of with monies already borrowed by the Company (apart from shares, the provisions of Depositories temporary loans obtained from the Company's bankers in Act, 1996, as amended, shall apply for the ordinary course of the business) shall not, without the transfer done in electronic form. consent of the Company in General Meeting, exceed the aggregate of the paid-up capital of the Company and its free Article 22(b) reserves, that is to say, reserves not set apart for any specific Underwriting and The Company may, at any time, pay purpose. commission and/or brokerage to any Brokerage Article 58 person for subscribing or agreeing to Subject to the provisions of the Act and the extant guidelines/ subscribe or procuring or agreeing to instructions, if any, of the Government of India in this regard, procure subscription (whether any bonds, debentures, debenture stock or other securities absolutely or conditionally) for any may be issued at a discount, premium or otherwise and with shares, debentures or debenture any special privileges as to redemption, surrender, drawings stock or any other security of the and allotment of shares. Bonds, debentures, debenture stock Company; if the commission and/or or other securities with the right to allotment of or conversion brokerage in respect of shares shall into shares shall be issued only with consent of the Company be paid or payable out of capital, the in general meeting. statutory conditions and requirements shall be observed and complied with Article 73(b)(viii) and the amount or rate of commission Appointment in the Company or in any of its subsidiaries of and/or brokerage shall not exceed the any person, other than foreign technical personnel, who has rates prescribed by the Act. The attained the age of 60 years. commission and/or brokerage may be Article 84(12) paid or satisfied in cash or shares, To create and wind up all posts including and upto those of debentures or debenture stock of the non-Board level Directors i.e. Functional Directors who may Company. have the same pay scales as that of Board level Directors Article 64(21) but who would not be members of the Board. All To enter into Joint To enter into technology JointVentures appointments upto this level would also be in the powers of Ventures/strategic or strategic alliances. the Board and would include the power to effect internal alliance transfers and redesignation of posts. Article 84(22) Article 84(18){i) To obtain To obtain by purchase or other To authorise undertaking of works of the capital nature and technology arrangements, technology and to invite and accept tenders including variations, if any, in know-how know-how. approved estimates. www.reportjunction.com SANSCO SERVICES - Annual Reports Library Services - www.sansco.net Notice Article 84(1 9} Notes: Subject to provisions of the Act, to promote or establish 1. The relevant Explanatory Statements, pursuant to Section wholly or partly owned companies or subsidiaries and to 173(2) of the Companies Act, 1956, in respect of the establish financial joint ventures in India or abroad with the business Item Nos.3 to 6 above are annexed hereto. stipulation that the equity investment should be limited to: a) Rs.200 crores in any one project.