CHAIRMANS REPORT
IMPORTANT COMMUNICATIONS TO THE MEMBERS
A) As per the Securities and Exchange Board of India (SEBI) circular
no.CIR/MRD/DP/10/2013 dated March 21, 2013, for distribution of dividend or other cash
benefits in electronic mode of payments like National Electronic Clearing Service (NECS),
Electronic Clearing Services (ECS), RTGS and NEFT shall be used, for which registrar and
transfer agent of the Company shall be required to maintain the bank account details of
the investors.
Also as per the SEBI Circular, in case the details like MICR no., IFSC no. etc.
required for effecting electronic mode of payments are not available, physical payment
instrument i.e. dividend warrants etc., will be used and on such physical payment
instrument the bank account details of the investor shall mandatorily be printed.
Therefore, Members who have not updated their bank account particulars and are desirous
of availing the facility of National Electronic Clearing Service (NECS) for receiving
direct credit of the dividends declared in future, if any, in their Bank account are
advised to submit particulars of their bank account viz. name and address of the branch of
the bank, 9 digit MICR code of the bank and branch, type of account and the account number
along with a blank cancelled cheque:
• To the Registrar and Transfer Agents of the Company for shares held in physical
form; and
• Directly to their respective Depository Participant (DP) for shares held in
electronic form. The Registrar and Transfer Agents are required to use the data provided
only by the Depositories in case of shares held in electronic form.
B) The Ministry of Corporate Affairs has taken a "Green Initiative in the
Corporate Governance" by allowing paperless compliances by the companies and has
issued Circular No. 17/2011 dated April 21, 2011 and Circular No.18/2011 dated April 29,
2011 stating that service of notices/ documents including Annual Reports can be made by
e-mail to its members. This is also a golden opportunity for every shareholder of the
Company to contribute to this initiative of the Government. By opting to receive
communication through electronic mode you also have the benefit of receiving communication
promptly and avoiding loss in postal transit, besides helping save costs on paper and on
postage, reducing paper consumption and saving trees. To support this green initiative of
the Government in full measure, members who have not registered their e-mail addresses, so
far, are requested to register their e-mail addresses in respect of electronic holdings
with the Depository through their respective Depository Participants. Members who hold
shares in physical form are requested to inform their e-mail addresses to the
Company’s Registrar & Transfer Agents, M/s. Link Intime India Pvt. Ltd.