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Corporate Governance
107
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS
FINANCIALS (123-204)
Type
Nos.
Complaints regarding non-receipt of
dividend/interest, shares lodged for transfer
161
Complaints received from the shareholders
through SEBI and other statutory bodies
and resolved
53
Complaints redressed out of the above
212
Pending complaints as on 31.3.2012
2*
Other Queries received from shareholders
and depositors and replied
19163
All letters received from the investors are replied to and the
response time for attending to investors’ correspondence
during FY2011-12 is shown in the following table:
Number
%
Total number of correspondence
received during 2011-2012
19377
100
Replied within 1 to 4
days of receipt
12327
63.62
Replied within 5 to 7
days of receipt
2951
15.23
Replied within 8 to 15
days of receipt
3917
20.21
Replied after 15
days of receipt
(1)
85
0.44
Received in last week
of March 2012 and
replied in April 2012
97
0.50
There were 8 pending share transfers pertaining to the
Financial Year ended March 31, 2012, which were received in
last week of March 2012. Out of the total number of complaints
mentioned above, 69 complaints pertained to letters received
through Statutory/Regulatory bodies and those related to
Court/Consumer forum matters, fraudulent encashment and
non-receipt of dividend amounts.
TSR Darashaw Limited (TSRDL), the Company’s Registrar and
Transfer Agents, are also the Registrar for the Company’s Fixed
Deposits Scheme (FD). TSRDL is the focal point of contact for
investor services in order to address various FD related matters
mainly including repayment / revalidation, issue of duplicate
FD receipts / warrants, TDS certificates, change in bank details/
address and PAN corrections. In view of increase in the
correspondence, TSRDL have increased their investor interface
strength (telephone and counter departments), and have taken
other steps for rendering speedy and satisfactory services to
the FD holders.
On recommendations of the Investors’ Grievance Committee,
the Company has taken various investor friendly initiatives like
organising Shareholders’ visit to Company Works at Pune,
sending reminders to investors who have not claimed their
dues, sending nominations forms etc.
On the recommendation of the Investors‘ Grievance
Committee, a survey on Shareholders’ satisfaction was
conducted in December 2011/January 2012 to assess service
qual ity del ivery to its shareholders. 2287 shareholders
responded to the survey. Overall the Company was rated high
on all aspects with 7 out of 10 investors expressing delight-
rating a per fect ‘5’ on the 5 point scale across various
parameters measured in the survey.
Placed below are the
graphs depicting satisfaction levels on various parameters of
service/quality related to the Investor interface with the
Company.
* SEBI complaints were repliedwithin 1-15 days but the same have been reflected
as unresolved as onMarch 31, 2012, as per the condition for complete resolution
defined by SEBI.
(1)
These correspondence pertained to court caseswhich involved retrieval of case
files, cases involving retrieval of veryold records, co-ordinationwith theCompany
Advocates etc, partial documents awaited from the Investors, cases involving
registration of legal documents, executed documents received for issue of
duplicate certificates and transmission of shares without legal representation
which involved checkingof the documents, sendingnotices to Stock Exchange
and issue of duplicate certificates/transmissionof shares after approval fromthe
Company. However, all these cases have been attended towithin the statutory
limit of 30 days.
FINANCIAL HIGHLIGHTS (32-45)