Statutory Reports
Corporate Overview
69th Annual Report 2013-14
112
Financial Statements
Complaints or queries relating to the shares and/or debentures
can be forwarded to the Company’s Registrar and Transfer Agents
– M/s TSR Darashaw Pvt. Ltd. at
, whereas
complaints or queries relating to the public fixed deposits can be
forwarded to the Registrars to the Fixed Deposits Scheme – M/s TSR
Darashaw Pvt. Ltd. at
.
The status on the total number of investors’ complaints during
FY 2013-14 is as follows:
There were no pending share transfers pertaining to the Financial
Year ended March 31, 2014. Out of the total number of complaints
mentioned above, 53 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 Private Limited (TSRDPL), the Company’s Registrar
and Transfer Agents, are also the Registrar for the Company’s Fixed
Deposits Scheme (FD). TSRDPL is the focal point of contact for
investor services in order to address various FD relatedmatters 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, TSRDPL 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 Stakeholder Relationship Committee
(erstwhile 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.
OTHER COMMITTEES
The Executive Committee of the Board
reviews capital and
revenue budgets, long-term business strategies and plans, the
organizational structure of the Company, real estate and investment
transactions, allotment of shares and/or debentures, borrowing
and other routine matters. The Committee also discusses the
matters pertaining to legal cases, acquisitions and divestment, new
business forays and donations. During the year under review, three
Committee meetings were held on July 4, 2013, January 9, 2014
and March 10, 2014. The Executive Committee of Board comprises
three Independent Directors, two Non-Executive Directors and two
Executive Directors. The composition of the Executive Committee of
Board and attendance at meetings is given hereunder:
(1) These correspondence pertained to court cases which involved retrieval of case
files, cases involving retrieval of very old records, co-ordination with the Company/
Advocates etc, partial documents awaited from the Investors, cases involving reg-
istration of legal documents, executed documents received for issue of duplicate
certificates and transmission of shares without legal representation which involved
checking of the documents, sending notices to Stock Exchange and issue of dupli-
cate certificates/transmission of shares after approval from the Company. However,
all these cases have been attended to within the statutory limit of 30 days.
Composition
Meetings attended
Cyrus P Mistry (Chairman)
3
Ravi Kant
3
N N Wadia
3
N Munjee
(1)
1
S Bhargava
2
(Late) Karl Slym
(2)
2
R Pisharody
3
S B Borwankar
3
(1)
Excluding 1 meeting attended on March 10, 2014 via teleconference facility
(2)
Ceased to be a member w.e.f. January 26, 2014
Type
Nos.
Complaints regarding non-receipt of dividend,
shares lodged for transfer
76
Complaints received from the shareholders through
SEBI and other statutory bodies and resolved
45
Complaints redressed out of the above
119
Pending complaints as on 31.03.2014
2*
Other queries received from shareholders and replied 9,795
* The SEBI complaint has been replied within 4 days but the same has been reflect-
ed as unresolved as on 31.03.2014, as per the condition for complete resolution
defined by SEBI.
Number
%
Total number of correspondence received
during 2013-2014
9,916 100.00
Replied within 1 to 4 days of receipt
6,573 66.28
Replied within 5 to 7 days of receipt
1,891 19.07
Replied within 8 to 15 days of receipt
1,408 14.19
Replied after 15 days of receipt
(1)
38 0.38
Received in last week of March 2014 have
been replied in April 2014
4 0.04
All letters received from the investors are replied to and the response
time for attending to investors’ correspondence during FY2013-14 is
shown in the following table:
