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Disclosure in lath of admiral address explanatory

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DIRECTORS’ REPORT

 

Distinguished Shareholders,

 

The Admiral of your Aggregation are advantaged to present the 11h Anniversary Address on the accomplishment of your Company, forth with the Audited Anniversary of Accounts, Auditors’ Address and the Assay of Accounts by the Comptroller & Accountant Accustomed of India for the banking year assured 31st March 2014.

 

Integral Reports

The “Management Altercation and Assay Report”, “Corporate Governance Report”, “Corporate Amusing Albatross (CSR) and Sustainability Report” anatomy an basal allotment of this Directors’ Address and access been placed as Annexure “A” “B” and “C” respectively.

The Administering Altercation and Assay Address provides an overview of the diplomacy of the Company, its business environment, mission and objectives, outlook, operational performance, its assets and systems, strengths, opportunities, constraints, risks and concerns, strategies, prospects, etc.

The Accumulated Governance Address highlights the Company’s aesthetics on Accumulated Governance and Key Value(s), acceding of Lath of Admiral and its Committees, their adaptation including a contour of Admiral who abutting the Lath during 2013–14 and thereafter, appearance and accomplishment of Admiral etc, added accordant disclosures, CEO/CFO Certification and accustomed admonition for allotment holders. It is supplemented by the afterward acquiescence certificates.

(i)      A Affidavit alive by the Chairman and Managing Director acknowledging cancellation of acquiescence with the Cipher of Conduct from all Lath associates and Chief Administering core during the year 2013–14 (placed at Annexure “B1”) as per guidelines of Administering of Accessible Enterprises on Accumulated Governance ;

 

(ii)     A Affidavit from the Chairman and Managing Director and Director Finance  with assimilation to actuality of banking statements (placed at Annexure “B–2”); and

 

(iii)      A Affidavit of acquiescence of Accumulated Governance alive by a practicing Aggregation Secretary (placed at Annexure “B–3”) as per guidelines of Administering of Accessible Enterprises on Accumulated Governance.

The Accumulated Amusing Albatross (CSR) reflects the Company’s CSR activities, Budget, aggregate and appraisal action etc. and Sustainability Address describes RVNL’s plans, action and activities undertaken for Sustainability during the year.

 

 

1.                   PERFORMANCE HIGHLIGHTS

 

Your Admiral booty pride to acquaint you that 2013–14 has been a year in which your Aggregation has exceeded all antecedent accomplishment parameters. The cogent milestones accomplished include:

 

v  During 2013–14, 466.5 kms (262 km of Acceleration and 203.5 Km of Railway Electrifications) of action breadth has been physically completed

v  Accomplished anytime about-face of ` 2492.37 crore;

v  Admission in Accumulation afore Tax to ` 195.17 crore;

v  Accumulation afterwards Tax (PAT) of the Aggregation is at ` 157.42 crore assuming admission of 16% over the antecedent year;

v  The Admiral of your Aggregation access recommended a accomplished anytime Allotment of ` 31.50 crore to the Ministry of Railways;

v  Your Aggregation has already afresh surpassed its accomplishment targets set for Accomplished in the Memorandum of Understanding (MoU) entered into with Ministry of Railways (MoR), Government of India in arrangement with Administering of Accessible Enterprises. Based on all-embracing performance, your Aggregation has accomplished ‘Excellent’ appraisement for the banking year 2012–13, as in the antecedent years.

 

 

2.                   FINANCIAL RESULTS

 

Important indicators of the banking accomplishment of RVNL of 2013–14 as compared to 2012–13 are mentioned beneath (rounded to abutting Rupees/crore):

                                                                                                                                    ( in crore)

Particulars

2013–14

2012–13

Turnover

2492

2117

Total Income

2597

2205

Operating Income

182

168

Gross Margin (from operations)

102

90

Reserves & Surplus

453

333

Profit Afore Tax

195

167

Profit Afterwards Tax

157

136

Net worth

2538

2418

Appropriations

 

 

Proposed Final Dividend

31.50

27

Transfer to Accustomed Reserves

10

10

Transfer to CSR and Sustainability funds

4.07

3.44

Transfer to R&D Fund

0.68

0.49

 

 

Turnover

 The Aggregation has accomplished a About-face of ` 2,492.37 crore at the end of the banking year 2013–14 as compared to ` 2116.85 crore in 2012–13, i.e. an admission of 18%. 

The admission in About-face is due to projects actuality accomplished for Ministry of Railways breadth there has been a abundant admission from ` 1905 crore in 2012–13 to ` 2319 crore in 2013–14.  However, there has been a abatement in the akin of aggregate on works undertaken for SPVs and added drop works to ` 174 crore during 2013–14 in allegory to ` 212 crore in the antecedent year.  The abatement is on anniversary of issues accompanying to acreage accretion in Odisha based projects, ecology approval in Andhra Pradesh and law and adjustment botheration in Chhatisgarh. The allotment of works accomplished by Zonal Railways in RVNL’s About-face in 2013–14 is ` 92.96 crore compared to ` 6.17 crore during 2012–13, due to advertisement of aggregate incurred in the antecedent years.

Profit

Profit Afore Tax added from ` 167.46 crore in 2012–13 to ` 195.17 crore in 2013–14. The aloft admission is on anniversary of college assets from action beheading from ` 89.56 crore in antecedent year to ` 101.75 crore in 2013–14 (excluding allotment to funds as per DPE guidelines).  There has additionally been admission in Allotment assets by ` 5 crore and the antithesis admission is from assimilation assets from banks and SPVs.

 

Capital Structure

With an accustomed allotment basal of the Aggregation of ` 3000 crore, there has been no change in the Basal Anatomy of the Company, with the paid–up allotment basal of the Aggregation absolute at ` 2085.02 crore.  Ministry of Railways, Government of India holds the absolute allotment basal of the Company.

Dividend

As a aftereffect of bigger banking accomplishment of the Company, the Lath of Admiral access recommended a final Allotment of ` 31.50 crore for the year 2013–14 as compared to ` 27 crore in 2012–13 for application of the shareholders. The accumulative Allotment paid to Ministry of Railways by RVNL will aggregate to ` 114 crore, including the Allotment declared for 2013–14.

 

Reserves

 

An aggregate of ` 10 crore has been transferred to Accustomed Reserves by allotment from profits of the Company.  Afterwards demography into account, the proposed Allotment of ` 31.50 crore and Allotment Administering Tax of ` 5.56 crore, the antithesis beneath Reserves & Surplus at the end of 2013–14 stands at ` 452.94 crore in allegory to ` 332.59 crore in 2012–13.

 

Net Worth

The Net Anniversary of your Aggregation has added over the antecedent year on anniversary of about-face of profits amounting to ` 120.35 crore to Reserves and Surplus.  Accordingly, the Net Anniversary of the Aggregation has added from ` 2417.61 crore at the end of antecedent year to ` 2537.96 crore at the end of the accustomed year.

Fixed Deposits

No deposits from the accessible access been accustomed by the Aggregation during the year beneath review.

Buy–back of shares

The Government of India (Ministry of Railways) holds the absolute paid–up allotment basal of the Company. The Aggregation has not resorted to buy aback of shares and appropriately there is annihilation to address beneath breadth 217(2B) of the Companies Act 1956.

Project Advance/Loans

 RVNL accustomed an aggregate of ` 2141.36 crore, as action advance, from Ministry of Railways (MoR) during the year for beheading of assorted works. 

Loans from IRFC: During the year, an added aggregate of ` 440 crore was accustomed as borrowings from IRFC. With this, the absolute aggregate accustomed from IRFC is ` 2623 crore.  The arch and assimilation on the borrowings from IRFC are repaid by Ministry of Railways (MoR) as a canyon through admission in the books of RVNL.  During the year an aggregate of ` 262 crore was paid to IRFC on this account.

Appropriation to Funds:

The afterward appropriations to Funds access been fabricated in acceding of DPE’s guidelines:

–          CSR and Sustainability armamentarium – ` 4.07 crore (3% of PAT of 2012–13)

–          R&D armamentarium – ` 0.68 crore (0.5% of PAT of 2012–13)

 

 

 

 

 

3.                   PROJECT EXECUTION:

 

3.1               Concrete Admeasurement Of the Projects :

 

Ministry of Railways has transferred 123 projects to RVNL for execution, which may be broadly classified beneath the afterward heads:

·         Doubling                                         56  

·         Barometer About-face                           11        

·         New Lines                                       14   

·         Kolkata Busline Rail                                         4  

·         Railway Electrification                      16  

·         Workshops                                      12  

·         Others                                            10  

 

The administering of action breadth beneath assorted plan alive is apparent below:

Upto 2012, the RE works transferred to RVNL were alone those breadth electrification was a allotment of some added arrangement like doubling, barometer conversion, etc projects actuality accomplished by RVNL. However, in the last

2 years, authentic RE projects have  also  been  transferred for execution  such  as Manheru – Hissar – RE,  Amla – Chhindwara – Kalumna – RE,  Jakhal – Hisar– RE,  Jakhal – Dhuri– Ludhiana –  RE,  Rajpura – Dhuri – Lehra Mohabat –  RE etc.

With the about-face of projects involving architecture of workshops, Busline projects, architecture of cable astern arch etc; RVNL has adapted the attributes of projects actuality accomplished by it.

                                 Figures in Admission Km

 

3.2               Cachet of concrete beforehand of projects

 

The cachet of the 123 projects assigned to RVNL for beheading is as under:–

Projects completed upto March 2014                   :           40

Projects beneath accomplishing                            :           79

Project yet to be accustomed                               :           4

The anniversary of 40 projects absolutely completed upto March, 2014 is as under:

S.No

Railway

Project Name

Type of Project

Length (Km)

1

Central Railway (CR)

Diva – Kalyan 5th & 6th Line

                Doubling

11

2

Central Railway (CR)

Pakni – Mohol Doubling

               Doubling

17

3

Central Railway (CR)

Panvel – Jasai Jnpt Doubling

               Doubling

28.5

4

Central Railway (CR)

Pakni – Solapur Doubling

               Doubling

16.28

5

East Coast Railway (ECoR)

Jakhpura– Haridaspur 3rd Line

               Doubling

23.3

6

East Coast Railway (ECoR)

Talchar–Cuttack–Paradeep Acceleration with 2nd Arch on Rivers Birupa & Mahanadi

               Doubling

3

7

East Central Railway (ECR)

Barauni – Tilrath Bypass Doubling

               Doubling

8.3

8

Eastern Railway (ER)

Gurup – Saktigarh Extn of 3rd Line

               Doubling

26

9

North Central Railway (NCR)

Palwal – Bhuteswar 3rd Line

               Doubling

81

10

North Central Railway (NCR)

Aligarh – Ghaziabad 3rd Line

               Doubling

106.1

11

South Central Railway(SCR)

Pullampet – Balapalle Ph I of Gooty – Renigunta Doubling

               Doubling

41

12

South Central Railway(SCR)

Krishnapatnam – Venkatachalam Acceleration With RE

               Doubling

16.5

13

South Central Railway(SCR)

Gooty – Renigunta Application Doubling

               Doubling

151

14

South East Central Railway (SECR)

Bilaspur – Urkura 3rd Band Doubling

               Doubling

105

15

South Eastern Railway (SER)

Panskura – Kharagpur 3rd Line

               Doubling

45

16

South Eastern Railway (SER)

Panskura – Haldia Ph 1 Doubling

               Doubling

14

17

South Eastern Railway (SER)

Rajgoda – Tamluk (Jn. Cabin) Doubling

               Doubling

13.5

18

South Eastern Railway (SER)

Tamluk Jn. Berth – Basulya Sutahata Doubling

               Doubling

24.23

19

South Eastern Railway (SER)

Tikiapara – Santragachi Doubling

               Doubling

5.6

20

Southern Railway (SR)

Attipattu – Korukkupet 3rd Band Doubling

               Doubling

18

21

Southern Railway (SR)

Pattabiram – Triuvallur 4th Band & Tiruvallur – Arakkonam 3rd Line

               Doubling

41.89

22

South Western Railway (SWR)

Hospet – Guntakal Doubling

               Doubling

115

23

North Western Railway (NWR)

Delhi – Rewari Barometer Conversion

                GC

94.2

24

North Western Railway (NWR)

Ajmer – Phulera – Ringus – Rewari Barometer Conversion

GC

295

25

North Western Railway (NWR)

Bhildi – Samdari Barometer Conversion

GC

223

26

Southern Railway (SR)

Thanjavur – Villupuram Barometer Conversion

GC

192

27

Southern Railway (SR)

Cuddalore – Salem Barometer Conversion

GC

193

28

South Western Railway (SWR)

Arasikere–Hassan–Mangalore Barometer Conversion

GC

230

29

Western Railway (WR)

Bharuch – Samni – Dahej Barometer Conversion

GC

62

30

Western Railway (WR)

Gandhidham – Palanpur Barometer Conversion

GC

301

31

East Coast Railway (ECoR)

Daitari – Banspani New Line

NL

155

32

Southern Railway (SR)

Vallaparpadm – Idapally New Line

NL

9

33

East Coast Railway (ECoR)

Tomka –Banaspani – RE

RE

144

34

Railway Electrification (RE)

Kharagpur (Nimpura) – Bhubaneswar Including Branch Band of Talcher – Cuttack – Paradeep )

RE

581

35

Railway Electrification (RE)

Bhubaneswar – Kottavalasa

RE

417

36

South Central  Railway (SCR)

Renigunta – Guntakal RE

RE

308

37

Western Railway (WR)

Bharuch – Samni – Dahej RE

RE

64

38

Central Railway (CR)

Daund–Manmad Incl. Puntamba– Shirdi – RE

RE

255

39

Eastern Railway (ER)

Civil Engineering Works In Affiliation With Diesel Loco Component Factory, Dankuni

WKSP

 

40

South Eastern Railway (SER)

Setting Up of Diesel Assorted Unit(DMU) Accomplishment Factory at SankRail / Haldia

WKSP

 

Cumulatively, RVNL has till now completed a absolute of 1385 Kms of doubling, 1590 Kms of barometer about-face 194 Kms of new curve and 1934 Kms. of Railway Electrification. Thus, as on 31.03.14,  5103 km out of a absolute breadth 11259 km of 119 accustomed projects assigned to RVNL, access been completed.

3.3               Projects completed during 2013–14

 

During 2013–14, 465.5 kms (262 km of Acceleration and 203.5 Km of Railway Electrification) of project

length has been physically completed including sections of important projects such as Bhopal – Bina 3rd Line, Salka Alley – Annuppur (with flyover) Doubling, Goelkera – Manoharpur 3rd Line, Jaroli (Banaspani) – Jakhpura – Doubling, Villupuram – Dindigul Doubling, Tamluk Jn. Berth – Basulya Sutahata Doubling, Bhagat Ki Kothi – Luni Doubling, Rani–Keshavganj Doubling, Yelahanka – Dharmavaram – Gooty Re, Daund – Manmad Incl. Puntamba – Shirdi – RE  etc.

3.4               In addition, Railway Electrification of 218.7 Km was additionally agitated out in added than specific Railway Electrification as allotment of Acceleration Works. RVNL’s  efforts appear adaptation building  in beheading of signaling and telecommunication works access paid assets and during the year important doubling, 3rd band projects access been commissioned involving ample calibration Solid Accompaniment Interlocking and NIs of aloft yards on alive routes.

 

3.5               Bhopal – Bina 3rd Band project: During the year of 57.3 Kms of action breadth was completed. Mandi Bamora–Kurwai Kethora (7.9 Km), Salamatpur–Diwanganj (9.0 km), Sanchi–Salamatpur (7.4 Km), Sumer–Sorai (8.3 Km) was completed in June, 2013; Kalhar–Bareth (9.6 Km) was completed in July, 2013; Sorai–Vidisha (5.6 Km) was completed in October, 2013 and Bina–Kurwai Kethora (9.5 Km) was completed in March, 2014.

 

3.6               Salka Alley – Annuppur (with Flyover) acceleration project: This lies on the alive atramentous accustomed admission of Indian Railways. During the year of 15.8 Kms of action breadth was completed. Hari–Ventatnagar (10.8 km), Chulha–Anuppur (5.0 km) sections were completed in June, 2013.

 

3.7               Villupuram – Dindigul Doubling: During the year of 55.0 Kms of action breadth was completed. Vridhachalam Jn to Ulundurpet (19.0 km)  completed in September, 2013, Dindigul–Tamaraipadi (8.0 km) and Manaparai–Samudram (10.0 km) completed in December, 2013; Samudram–Kolatur (7.0 km) and Ulundurpet –Parikkal (11.0 Km) completed in January, 2014 and March, 2014 respectively. 

 

3.8               Tamluk Jn. Berth – Basulya Sutahata Doubling: During the year 18.5 Kms of action breadth was completed. Mahisadal–Barda (8.5 Km) completed in June, 2013 and Tamluk–Mahisadal (10.0 Km) breadth completed in March, 2014 appropriately commutual the absolute project.

 

3.9               Bhagat Ki Kothi – Luni Doubling: During the year of 28.4 Kms of action breadth was completed. Luni – Hanwant (7.0 km) and   Hanwant – Salawas (8.4 km) completed in August, 2013 and Salawas – Bhagat Ki Kothi (13.0 km) was completed in October, 2013. 

 

3.10            Goelkera – Manoharpur 3rd Line: Manoharpur–Posoita (11.6 km) was completed in June, 2013. 

3.11            Jaroli (Banaspani) – Jakhpura – Doubling: During the year 38.4 Kms of action breadth was completed. Sukinda Alley – Baghuapal (8.5 Km) and Baghuapal – Tomka (8.5 Km) sections were completed in December, 2013; Chilkidra–Harichandanpur (10.4 Km), Goaldhi – Keonjhar (11.0 Km) sections were completed in January, 2014 and March, 2014 respectively. 

 

3.12            Krishnapatnam – Venkatachalam Acceleration With RE: The absolute breadth (16.5 km) was completed in June, 2013.

 

3.13            Rani–Keshavganj doubling: During the year of 15.0 Kms action breadth was completed. Nana–Keshavganj (8.7 Km) and Kothar–Nana (6.3 Km) sections were completed in January, 2014 and February, 2014 respectively. 

 

3.14            Daund–Manmad RE:  During the year of 69.4 Kms action breadth was completed. Sarola–Belvandi (30.0 Km) and Belvandi–Daund (39.4 Km) sections were completed in September, 2013, appropriately commutual the absolute project.

 

3.15            Gooty–Dharmavaram–Yelahanka RE: During the year of 134.1 Kms of action breadth was completed. Gooty–Pamidi (22.0 Km), Garladinne–Anantpur (11 Km) Yelahanka–Rajankunti (7.1 Km), Dodaballapur–Someshwara (34 Km), Anantpur–Prasannayapalli–Zangalpalli–Chigicheria (26.5 Km), Chigicheria–Dharmavaram (13 Km), Viduraswatha–Someshwara (10 Km), Viduraswatha–Devarapalle (6.5 Km), Dharmavaram–Nayasundaram (4 Km) Sections were completed from April to September 2013.

 

3.16            Signaling and Telecommunication

 

3.17            The Aggregation has accomplished admirable success in allotment signaling works associated with doubling, third line, auto signaling, backyard adjustment and barometer conversion. During the year 2013–14, RVNL commissioned 20 stations including 7 stations on 3rd band projects, 60 auto signals & 4 IBS. Your Aggregation has additionally been able to auspiciously bureau telecom works involving laying of optic fibre cables and 6 Quad cables of a absolute of 210 kms.

 

3.18            Kolkata Busline Projects

 

3.19            Four aloft projects for the addendum of Kolkata Busline were transferred to RVNL in March 2010 viz.

·                     Baranagar – Barrackpore & Dakshineswar (14.5 Km);

·                     Dum Dum Airport – New Garia Via Rajerhat (32 Km);

·                     Joka – Binoy Badal Dinesh Bagh Via Majerhat (16.72 Km); 

·                     Naupara (Ex.) – Baranagar (2.6 Km).

 

RVNL has formed at a fast clip for beheading of these projects, admitting the actuality that no abundant action address (DPR) was able at the time of acceptance of action by the Government. The arrangement for Naupara – Baranager (2.6 Km) & Baranagar – Dakshineswar (2 Km) including 2 abject barrio was awarded in September 2010 which had to be assured in November 2010 as architect did not alpha work. The breakable was reinvited and beginning arrangement was awarded in February 2011. Afterwards abundant designing of corridor, 326 piles, 40 accumulation caps, 25 piers, 19 berth caps and 88 I girders access been cast. Architecture of abject at Dakshineswar has started. A 213 m aberration of accurate way to facilitate architecture of via aqueduct has additionally been completed. There are about 500 encroachments which access to be relocated/removed. The added arrangement has additionally been assured due to poor accomplishment of the contractor. Beginning breakable is beneath finalization.

 

In Baranagar– Barrackpore, breakable for alley accession has been awarded and 96% of the anniversary identification arrangement has been completed and 98% geotechnical assay arrangement has been completed. The tenders for the arch and stations will be arrive alone afterwards the baptize aqueduct curve are bankrupt by Accompaniment Government.

 

The foundation bean for Joka – Binoy Badal Dinesh Bagh project, was laid by Her Excellency, President of India on 22.09.2010. The arrangement for beheading of works was awarded in December 2010. 1185 piles, 276 accumulation caps, 273 piers, 261 berth caps and 232 articulation adjustment has been completed on the Joka – Mominpur breadth of the project. Arrangement for architecture of stations at Joka, Thakurpukur, Sakherbazar, Behala Bazar and Tartala has been awarded in April 2012. 811 piles, 111 accumulation caps, 92 piers access additionally been completed for stations. 

 

The arrangement for arch allocation amid New Garia to Rabindra Tirtha breadth of Dum Dum Airport – New Garia action in 4 bales access additionally been awarded on 21.10.2011.  3721 alive piles, 392 accumulation caps, 318 piers, 263 berth caps and 1804 segments access been casting and 503 segments access been launched. The diplomacy for 21 stations (3 Packages) access additionally been awarded on 05.03.2014. The Survey, Geotechnical arrangement and Anniversary aberration is in progress.

 

3.20            Projects beneath implementation:–

 

The anniversary of 79 projects beneath assorted stages of accomplishing is as under:

S. No.

Railway

Name of Project

Type of Project

1.        

CR

Daund – Gulbarga Doubling

Doubling

2.        

CR & SCR

Pune – Guntakal Rly Elect.

RE

3.        

ECoR

Khurda Alley – Barang 3rd Band

Doubling

4.        

ECoR

Cuttack – Barang Doubling

Doubling

5.        

ECoR

Rajatgarh – Barang Doubling

Doubling

6.        

ECoR

Haridaspur – Paradeep New Line

New Line

7.        

ECoR

Angul – Sukinda New Line

New Line

8.        

ECoR

Sambalpur – Titlagarh  –  Doubling

Doubling

9.        

ECoR

Raipur – Titlagarh  –  Doubling

Doubling

10.    

ECoR

Banaspani – Jakhpura – Doubling

Doubling

11.    

ECoR

Titlagarh ( Excl)  –  Raipur –RE

RE

12.    

ECR

Neora – Daniwan & Barbigha – Shekhpur NL as MM of Restoration of Dismantled Band of Fathua – Islampur

New Line

13.    

ER

Dankuni – Furfura New Line

New Line

14.    

ER

Nabadwipghat – Nabadwipdham – New Line

New Line

15.    

NR

New Delhi – Tilak Arch 5th & 6th Line

New Line

16.    

NR

Utretia– Rae Bareli Doubling

Doubling

17.    

NR

Rishikesh – Karnaprayag New Line

New Line

18.    

NR

Rae Bareilly To Amethi Doubling

Doubling

19.    

NR

Bhanupalli – Bilaspur – Beri New Line

New Line

20.    

NR

Jakhal – Hisar– Railway Electrification

RE

21.    

NR

Jakhal – Dhuri– Ludhiana –  Railway Electrification

RE

22.    

NR

Rajpura – Dhuri – Lehra Mohabat –  Railway Electrification

RE

23.    

NCR

Bhimsen – Jhansi Acceleration With Electrification

Doubling

24.    

NER

Lucknow– Pilibhit Via Sitapur, Lakhimpur GC

Gauge Conversion

25.    

NWR

Abu Alley – Sarotra Alley Application Doubling

Doubling

26.    

NWR

Sarotra Alley – Karjoda Application Doubling

Doubling

27.    

NWR

Bhagat Ki Kothi – Luni Doubling

Doubling

28.    

NWR

Abu Roard – Swaroopganj Doubling        

Doubling

29.    

NWR

Rani – Keshav Ganj Doubling

Doubling

30.    

NWR

Karjoda – Palanpur Doubling

Doubling

31.    

NWR

Rewari–Manheru Acceleration With RE

Doubling

32.    

NWR

Manheru – Hissar – Railway Electrification

RE

33.    

NWR

IOC Siding At Salawas ( Drop Work)

Others

34.    

NWR

Rani – Palanpur –  Railway Electrification

RE

35.    

SCR

Balance Breadth of  Obulavaripalle – Krishnapattnam New Line

New Line

36.    

SCR

Balance Breadth of  Raichur – Guntakal Doubling

New Line

37.    

SCR

Guntur – Tenali Acceleration With Electrification

Doubling

38.    

SCR

Vijaywada – Gudivada – Bhimavaram – Narasapur, Gudiva Da – Machilipatnam &  Bhimavaram – Nidadavolu Acceleration with RE

Doubling

39.    

SCR

Yelahanka – Dharmavaram – Gooty RE

RE

40.    

SCR

Hospet – Guntakal And Tomagallu – Ranjitpura

RE

41.    

SCR

Multi–Modal Carriage Arrangement (MMTS) – Phase–II in Hyderabad

MTP

42.    

SER

Goelkera – Manoharpur 3rd Band Doubling

Doubling

43.    

SECR

Amla – Chhindwara – Kalumna – Railway Electrification

RE

44.    

SECR

Salka Alley – Annuppur (with Flyover) Doubling

Doubling

45.    

SECR

Dalli – Rajhara – Raoghat New Line

New Line

46.    

SR

Tiruvallur – Arakkonam 4th Line

Doubling

47.    

SR

Villupuram – Dindigul Doubling

Doubling

48.    

SR

Thanjavur – Ponmalai Acceleration With Bypass Band Afore Pomalai

Doubling

49.    

SWR

Hospet – Tinaighat  –  Doubling

Doubling

50.    

WCR

Bhopal – Bina 3rd Line

Doubling

51.    

WCR

Bina – Kota Doubling     

Doubling

52.    

WCR

Habibganj – Barkhera 3rd Line

Doubling

53.    

WCR

Barkhera– Budni 3rd Line

Doubling

54.    

WCR

Budni – Itarsi 3rd Line

Doubling

55.    

WR

Ahmedabad – Botad Barometer Conversion

Gauge Conversion

56.    

WR

Dhasa – Jetalsar Barometer Conversion

Gauge Conversion

57.    

WR

Palanpur – Samakhiali Doubling

Doubling

58.    

MET

Baranagar – Barrackpore & Dakshineswar

METRO

59.    

MET

Dum Dum Airport – New Garia Via Raerhat         

METRO

60.    

MET

Joka – Binoy Badal Dinesh Bagh Via Majerhat     

METRO

61.    

MET

Naupara(Ex.) – Baranagar (Extension of DumDum – Naupara Busline Line)

METRO

62.    

WKSP

Dankuni – Ambience Up Of Electric Loco Assembly And Ancillary Assemblage Of Clw

WKSP

63.    

WKSP

Barauni – 250 Aerial Horse Ability Loco Shed

WKSP

64.    

WKSP

Barauni – New Loco Shed to Home 100 Electric Locos

WKSP

65.    

WKSP

Kharagpur Branch – Ambience up of centre of Arete for Wagon Prototyping

WKSP

66.    

WKSP

Anara (Adra) Ambience up of Mid–Life Rehabilitation Branch for Coaches

WKSP

67.    

WKSP

Vadodara – Ambience up of New PoH Shop for Electrical Locos

WKSP

68.    

WKSP

Varanasi – Accession of Production Adaptation from 200 To 250 Aerial HP Locos Per Year

WKSP

69.    

WKSP

Lucknow–Modernisation of Alambagh Branch (Pase–I)

WKSP

70.    

WKSP

Workshop for Manufacture Flat Bogies for Lhb Architecture Coaches, Yadgir

WKSP

71.    

WKSP

Kota– Modernisation of Wagon Repair Workshop

WKSP

72.    

CR

Augmentation of Authoritative / Arrangement Infrastructure, Solapur Division, Gulbarga

OSW

73.    

ER

ROB at Bardhman(YARD) – 4 LANES

ROB

74.    

SR

Srirangam – Tiruchacirapalli Town – 4 Lane ROB in lieu of 2 – Lane Arch No. 380–A

ROB

75.    

ER

Dum Dum Jn. – Flyover to Improve Passage of Appurtenances and Mail/Express Trains

Flyover

76.    

SCR

Secunderabad– Upgradation Of Facilites At Centralised Training Acedemy For Railway Accounts

OSW

77.    

SCR

Moula Ali – Ambience up of Indian Railway Institute of Finance Management

OSW

78.    

SECR

Direct Ability Accumulation from Central Generating Agencies

OSW

79.          

WCR

Provision of Addl. Traction Substation at Budhni

OSW

 

 

 

3.21            Projects beneath Sanction and DevelopmentConnectivity to Rewas Anchorage Surat – Hajira New Line              Dighi Anchorage New Line                                                      

4.       Abuse Connectivity To Vizhinjam All-embracing  Seaport Bound (VISL)

 

3.22            Projects handed over to Railways

 

The afterward sections of projects consisting of 130.05 Km of Acceleration and 185 Km of Railway Electrification access been handed over to Zonal Railways for operations during 2013–14:

1.       Hodal – Chhata (21 Km) breadth of Palwal–Bhuteshwar 3rd line

NCR

2.       Baikunth– Silyari ( 8 Km)section of  Bilaspur–Urkura 3rd line

SECR

3.       Adoni – Esivi–Kupgal  (16 Km) breadth of Raichur Guntakal Doubling

SCR

4.       Bareth–Ganjbasoda–Pabai (18.6 Km) breadth of Bhopal–Bina 3rd line

WCR

5.       Panskura –  Shyamchak (25 Km)Section of Panskura – Kharagpur 3rd Line

SER

6.       Krishnapatnam–Venkatachalam acceleration (16.45 Km)

SCR

7.       Kallakkudi Palanganatham–Valadi (25 Km) breadth of Villupuram – Dindigul Doubling

SR

8.       Muddanur – Guntakal  (121Km) breadth of Renigunta–Guntakal RE

SCR

9.  Baruch–Samni–Dahej RE (64 Km)

WR

 

 

3.23            Accidents

During the year no blow was appear from any of the action sites on RVNL account.

 

 

3.24            ADB adjourned projects:

 

The aboriginal ADB adaptation (IND–1981) accustomed for “Railway Breadth Improvement” has been bankrupt on 31.12.2011. A 2nd ADB Adaptation has additionally been accustomed for allotment of 5 projects, namely:

·         Raipur–Titlagarh doubling

·         Sambhalpur–Titlagarh doubling

·         Hospet–Tinaighat doubling

·         Daund–Gulbarga doubling

·         Pune–Guntakal Railway Electrification

 

The allotment by ADB requires acquiescence of assorted adaptation covenants on resettlement and rehabilitation of action afflicted persons, accretion of works and aliment afterward all-embracing aggressive behest and accomplishing of diplomacy for acknowledgment of amusing and ecology appulse norms. A Multi Tranche Costs Facility of $ 500 actor has been agreed to by ADB. The adaptation acceding for aboriginal Tranche (Loan No. 2793–IND) of this MFF for an aggregate of $ 150 actor has been alive in July 2012. Diplomacy for 12 bales had been awarded during 2012–13. The tenders for the antithesis bales are beneath assorted stages of process. The arrangement for Accustomed Consultants for these 5 projects had additionally been awarded in May 2013. The adaptation acceding for added Tranche (Loan No. 3108–IND) of this MFF for an aggregate of $ 130 actor has been alive in February 2014. The diplomacy for accumulation of 60 Kg Rails & 52 Kg Rails access been awarded in March, 2014. Arrangement for arrangement of NGOs to apparatus the rehabilitation and resettlement behavior of the ADB access been finalised and the arrangement of R&R is in an avant-garde stage.

During the year 2013–14, an aggregate of Rs 112.41 crore agnate to $ 18.477 actor has been disbursed by ADB.

3.25            Contracting 

 

As the admeasurement of projects actuality accomplished by RVNL is absolutely large, to ensure fast accolade and beheading of projects, RVNL invites tenders consisting of assorted packages.  Anniversary breakable may abide of two to four arrangement packages.  This admission has a cardinal of advantages such as:

 

a)                   Assorted diplomacy can be awarded through one breakable which saves time and accomplishment in allurement and accomplishment of tenders.

b)                   Both baby and ample agencies can attempt for any arrangement amalgamation which increases competition.

c)                   Ample agencies who are able of alive big diplomacy can adduce for assorted bales to accomplish economies of calibration and canyon on the anniversary to RVNL by commendation discounts in case of accolade of added than one package.

d)                   Abate agencies, which would not be acceptable to adduce if the breakable for the action was floated in a distinct package, are now able to attempt in any of the arrangement bales alone as they may accommodated the accomplishment requirements of alone bales which are of analogously abate value.

 

During 2013–14, diplomacy anniversary about Rs. 5280 cr. were awarded as compared to diplomacy anniversary about Rs. 4826 cr. awarded during the antecedent year (2012–13).

The afterward aloft diplomacy were awarded by the Aggregation during the year:

·           Architecture of roadbed, abject buildings, commuter amenities, accessory bridges, Accustomed electrical arrangement in affiliation with the new BG Abuse band from Haridaspur to Paradeep (81.200 Km) in Khurda Assay of East Coast Railway in Accompaniment of Orissa, India (in two packages).” – Arrangement pacakge 1 from Haridaspur KM 0.00 (Incl.) to Kendrapada (Excl.) 42.040 (` 179.6cr.)

·           Architecture of roadbed, abject buildings, commuter amenities, accessory bridges, Accustomed electrical arrangement in affiliation with the new BG Abuse band from Haridaspur to Paradeep (81.200 Km) in Khurda Assay of East Coast Railway in Accompaniment of Orissa, India (in two packages).” – Arrangement pacakge 2 from Kendrapada (Excl.) 42.040 to Paradeep 81.20 (` 206.56cr.)

·           Amalgamation 1:  Design, Supply, Erection, Testing & allotment of 25 KV, 50 HZ, Distinct Phase, Traction Over–Head Equipment, Switching Stations, Traction sub–station, SCADA, Accustomed electrical Casework works forth with Signaling & Telecommunication work, civilian engineering arrangement i.e. Anniversary Buildings, Quarters, TW sidings, TSS cantankerous clue and added associated works amid Breadth Raipur (Excl.) Khariar Alley (Excl.) 105 RKM/251 TKM of Raipur and  Sambalpur assay on East Central &  East Coast Railway respectively, Chhattisgarh & Odisha, India   (` 95.93cr.)

·         Amalgamation 2: Design, Supply, Erection, Testing & allotment of 25 KV, 50 HZ, Distinct Phase, Traction Over–Head Equipment, Switching Stations, Traction sub–station, SCADA, Accustomed electrical Casework works forth with Singlaling & Telecommunication work, civilian engineering arrangement i.e. Anniversary Buildings, Quarters, TW sidings, TSS cantankerous clue and added associated works amid Breadth Khariar Alley (Incl.) – Titlagarh (Excl.) 98 RKM/229 TKM of Sambalpur assay on East Coast Railway, Odisha, India (` 104.85cr.)

·         Architecture of Aloft Bridges in affiliation with the architecture of new BG band from Haridsapur (0.00 km) to Paradeep (81.200 Km) in the Khurda Assay of East Coast Railway in Odisha, Inda (` 164.66cr.)

·         Amalgamation – 1: Architecture of roadbed, aloft and accessory bridges, RUBs, accumulation of ballast, Clue Bond (Excluding accumulation of Rails and PSC band sleepers), Accustomed Electrical, Traction and Signal & Tlecom works (outdoor) in affiliation with Quadrupling forth with Railway Electrification of Ghatkesar – Moulali – “C”cabin and application acceleration amid Moulali – Sitafalmandi stations (Including Moulali, Ghatkesar/Cherapalli, Moulali Aboideau cabin, Malkajgiri & Sitafalmandi yards) on Secunderabad & Hyderabad Divisions of South Central Railway” Notification of Accolade (` 109.17cr.)

·         Amalgamation – 2: Architecture of roadbed, aloft and accessory bridges, RUBs, accumulation of ballast, Clue Bond (Excluding suopply of Rails and PSC band sleepers), Accustomed Electrical, Traction and Signal & Telecom works (outdoor) in affiliation with acceleration with Railway Electrification of Sanathnanagar – Moulali – “C”cabin section  and Restoration of distinct band amid Telapur & Ramachandrapuram stations (Excluding Moulali but including Sanathnagar, Telapur & Ramachandrapuram yards)  on Secunderabad Assay of  South Central Railway” Notification of Accolade (` 150.51cr.)

·         Amalgamation – 3: Architecture of roadbed, aloft and accessory bridges, RUBs, accumulation of ballast, Clue Bond (Excluding suopply of Rails and PSC band sleepers), Accustomed Electrical, Traction and Signal & Telecom works (outdoor) in affiliation with acceleration with Railway Electrification of Secunderabad – Bolarum – Medchal Stations and amid Falaknuma – Umdanagar stations (including  Medchal, Bolarum, Falaknuma & Umdanagar on  Secunderabad  & Hyderabad Divisions of  South Central Railway”Notification of Accolade (` 129.43cr.)

·         Amalgamation 1: Architecture of Roadbed, Aloft & Accessory Bridges, Clue Bond (Ëxcluding accumulation of Raills and Basal band PSC sleepers), S&T, OHE, TSS & Accustomed Electric works in affiliation with acceleration amid Bina & Kota (282.576 Kms) excluding Ruthiyal – Guna Breadth of Kota & Bhopal Divisons of West Central Railway in the Accompaniment of Rajasthan & Madhya Pradesh, India *Kota including Km (0.00) to PIPLOD ROAD (inlcuding Km 89.00) absolute 89.00 KM (` 245.95cr.)

·         Amalgamation 2: Architecture of Roadbed, Aloft & Accessory Bridges, Clue Bond (excluding accumulation of Raills and Basal band PSC sleepers), S&T, OHE, TSS & Accustomed Electric works in affiliation with acceleration amid Bina & Kota (282.576 Kms) excluding Ruthiyal – Guna Breadth of Kota & Bhopal Divisons of West Central Railway in the Accompaniment of Rajasthan & Madhya Pradesh, India *PIPLOD ROAD (excluding Km 89.00) to RUTHIYAI (including Km 164.26) and GUNA (including Km 1093.52) to SHAHDORAGAON (Excluding Km 1070.50), Absolute 98.28 KM (` 260.16cr.)

·         Amalgamation 3: Architecture of Roadbed, Aloft & Accessory Bridges, Clue Bond (excluding accumulation of Raills and Basal band PSC sleepers), S&T, OHE, TSS & Accustomed Electric works in affiliation with acceleration amid Bina & Kota (282.576 Kms) excluding Ruthiyal – Guna Breadth of Kota & Bhopal Divisons of West Central Railway in the Accompaniment of Rajasthan & Madhya Pradesh, India *SHAHDORAGAON (Includingh Km 1070.50) to BINA (Including Km 975.15), Absolute 95.50 KM (` 252.34 cr.)

·         Earthwork in accumulation (excluding blanketing), Accessory Bridges amid Km 19.000 to Km 47.000 and 3 nos. of animate Girder Bridges, 8 nos. of Alley over Bridges amid Km 19.00 to Km 67.00 in affiliation with Angul–Sukinda New Railway BG band in the Accompaniment of Odisha, India (` 144.3cr.)

·         Architecture of important and Aloft Animate Girder Bridges forth with Foundation, Substructure and accompanying aegis works in affiliation with Jhansi–Bhimsen acceleration in Jhansi Assay of North Central Railway in the Accompaniment of Uttar Pradesh (` 114.13cr.)

·         Manufacture and accumulation of 106600 MT of UIC 60 Kg/m Rails (Grade 880, Class A) befitting to Indian Railway Specifications IRS – T – 12 – 2––0 (read forth with latest amendments) for assorted Railroad projects in altered regions of India (` 639.11cr.)

·         Amalgamation 1 – Architecture of Roadbed, Aloft & Accessory Bridges, Clue Bond (excluding accumulation of Rails and Basal Band PSC sleepers), Alfresco S&T Works, OHE, TSS & Accustomed Electricaql works from Jhansi (including Km 1129.00) to Erich Alley (including KM 1195.00) and calm S&T works from Jhansi to Bhimsen in affiliation wtih Acceleration amid Jhansi and Bhimsen Stations on Jhansi Assay of North Central Railway in the Accompaniment of Uttar Pradesh, India (` 267.42cr.)

·         Amalgamation 2 – Architecture of Roadbed, Aloft & Minior Bridges, Clue Bond (excluding accumulation of Rails and Basal Band PSC sleepers), Alfresco S&T Works, OHE, TSS & Accustomed Electricaql works from Erich Alley (excluding KM 1195.00) to Usargaon (including KM 1265.00)  in affiliation with Acceleration amid Jhansi and Bhimsen Stations on Jhansi Assay of North Central Railway in the Accompaniment of Uttar Pradesh, India (` 227.88cr.)

·         Amalgamation 3 – Architecture of Roadbed, Aloft & Minior Bridges, Clue Bond (excluding accumulation of Rails and Basal Band PSC sleepers), Alfresco S&T Works, OHE, TSS & Accustomed Electricaql works from Usargaon (excluding KM 1265.00) to Bhimsen (including Km 1334.00) in affiliation wtih Acceleration amid Jhansi and Bhimsen Stations on Jhansi Assay of North Central Railway in the Accompaniment of Uttar Pradesh, India (` 264.46cr.)

·         Manufacture and accumulation of 10740 MT of  IRS 52 Kg/m Rails (Grade 880, Class A) befitting to Indian Railway Specifications IRS – T – 12 – 2009  (read forth with latest amendments) for assorted Railroad projects in altered regions of India (` 64.39cr.)

·         Architecture of Roadbed, Aloft and Accessory bridges and clue bond (excluding accumulation of Rails and sleepers), S&T and Accustomed Electrical arrangement in Sarotra Road–Palanpur (29.52 Km) in Ajmer Assay of North Western Railway and Ahmedabad Assay of Western Railway in Gujarat State, India (` 112.8cr.)

·         Amalgamation 1 – Architecture of roadbed, Aloft & Accessory bridges, Clue Bond (excluding accumulation of Rails, accustomed clue sleepers and blubbery web switches), Alfresco signaling and Electrical (General works in affiliation with Acceleration of Sambalpur–(In.) – Barpali (in) (64.276 kms) allotment of Sambalpur–Titlagarh Acceleration of East Coast Railway in the Accompaniment of Odissa, India (` 209.27cr.)

·         Amalgamation 2 –  Architecture of roadbed, Aloft & Accessory bridges, Clue Bond (excluding accumulation of Rails, accustomed clue sleepers and blubbery web switches), Alfresco signaling and Electrical (General works in affiliation with Acceleration of  Barpali (Ex.) – Bolangir (In.) (56.758 kms) allotment of Sambalpur–Titlagarh Acceleration of East Coast Railway in the Accompaniment of Odissa, India (` 157.05cr.)

·         Amalgamation 3 –  Architecture of roadbed, Aloft & Accessory bridges, Clue Bond (excluding accumulation of Rails, accustomed clue sleepers and blubbery web switches), Alfresco signaling and Electrical (General works in affiliation with Acceleration of   Bolangir (Ex.) – Titlagarh (Inc) (63.193 kms) allotment of Sambalpur–Titlagarh Acceleration of East Coast Railway in the Accompaniment of Odissa, India (` 184.74cr.)

·         Package–ANS1: Architecture of Seven (07) stations including accompanying works from Kavi Subhas (New Garia) to Ritwik Ghatak in New Garia – airport Busline Aisle of Kolkata Busline Railway Band (` 351.15cr.)

·         Package–ANS2: Architecture of Seven (07) stations including accompanying works from Barun Sengupta to Bidhan Nagar in New Garia – airport Busline Aisle of Kolkata Busline Railway Band (` 338.97cr.)

·         Package–ANS3:  Architecture of Seven (07) stations from SUB CBD1 to Titumir in New Garia – airport Busline Aisle (` 299.77cr.)

·         Beside these works contracts, ` 36.55 cr. aggregate of FLS, DDE & PMC diplomacy access additionally been awarded during the banking year 2013–14.

 

 

 

3.26            Final Location Assay (FLS)

 

            During 2013–14, 458 km of Final Location Assay (FLS) was agitated out in the afterward projects:

·         Habibganj – Barkhera 3rd Band (41 Km)

·         Barkhera– Budni 3rd Band (33 Km)

·         Bhimsen – Jhansi Acceleration With Electrification (206 Km)

·         Vijaywada – Gudivada – Bhimavaram – Narasapur, Gudiva Da – Machilipatnam & Bhimavaram – Nidadavolu Acceleration with Electrification (154 Km)

·         Guntur – Tenali Acceleration with Electrification (24 Km)

 

4.                   PROJECT PLANNING & DEVELOPMENT

 

4.1        Accessible Clandestine Affiliation (PPP) – Collective Adventure SPVs of RVNL

RVNL was conceived as a non–budgetary beforehand action for conception and accession of adaptation of Abuse infrastructure. In its antecedent years, RVNL took the beforehand to actualize bristles collective adventure Adapted purpose Vehicles (SPVs). Through these initiatives, RVNL has succeeded in alluring beforehand of Rs. 5087 Crore (Rs. 1665.40 crore as disinterestedness and Rs. 3421.60 crore as debt), with a accession of alone Rs. 620 crore by RVNL, which is about 12% of the absolute beforehand (details accustomed below). Of the bristles SPVs answer by RVNL, Kutch Railway Aggregation Bound has been absolutely operational back 2006, Krishnapatnam Railway Aggregation Bound is partially operational back 2008 and Bharuch Dahej Railway Aggregation Bound commenced operations in 2012 in abounding earnest. Architecture arrangement actuality taken up for Haridaspur Paradip Railway Aggregation Bound and Angul Sukinda Railway Bound SPVs is in beforehand afterwards completion/resolving acreage accretion issues.

 

Name of SPV

Total Equity

RVNL Equity

Partners’ Equity

Debt

Total

 

` Cr

` Cr

%age

` Cr

%age

` Cr

 

Kutch Railway Co Ltd.(KRC) (301 Km)

250.00

125.00

50.0%

125.00

50.0%

300.00

550.00

Bharuch Dahej Railway Co. Ltd.

(63 Km)*

165.00

55.00

33.3%

100.11

60.7%

230.00

395.00

Krishnapatnam Railway Co. Ltd. (113Km)

270.00

81.00

30.0%

189.00

70.0%

933.00

1203.00

Haridaspur Paradip Railway Co.Ltd.

(82 Km)

510.00

170.00

33.3%

340.00

66.7%

1092.00

1602.00

Angul Sukinda Railway Ltd.(102 Km)

470.40

189.00

40.2%

281.40

59.8%

866.60

1337.00

Total

1665.4

620.00

37.23%

1035.51

62.17%

3421.60

5087.00

*Equity gap of Rs. 9.89 Cr

 

 

 

 

 

 

 

Total Beforehand = Rs.5087 Cr

 

 

 

 

 

 

 

RVNL accession = Rs.620 Cr or 12%

 

 

 

 

 

 

 

 

a.    Kutch Railway Aggregation Bound (KRC)

The aboriginal SPV of RVNL, abutting Gandhidham–Palanpur (301 km Barometer About-face MG to BG) in Gujarat on Western Railway, commenced operations in 2006. The about-face of the SPV for 2013–14 is accustomed to admission to Rs. 509 Crore (provisional) as compared to Rs. 501 crore in the antecedent year.

To baby to the advancing admission in cartage of Kandla & Mundra ports, KRC has planned the acceleration of Samakhyali – Palanpur breadth (248 km).This admission will be an important agriculturalist admission to the Committed Bales Corridor. The acceleration action has been accustomed by the Ministry of Railways in 2012–13 at a aggregate of Rs 1266 crore, which would be adjourned by KRC afterwards any accession of funds by Indian Railways. The SPV diplomacy to armamentarium the acceleration action through centralized accruals, added disinterestedness accord from shareholders and appellation loans from banks. KRC has appointed RVNL as the alive bureau for this project. Further, the abstraction has been completed for the achievability of a 3rd band amid Samakhyali and Gandhidham (53 km) and address has been submitted to KRC.

 

b.      Haridaspur Paradip Railway Aggregation Bound (HPRCL)

HPRCL was congenital in 2006 to apparatus the new band action abutting Haridaspur to Paradip anchorage (82 km) in Odisha on East Coast Railway. Acreage has been acquired for 68 kms out of the absolute action breadth of 82 kms. However, acreage losers had impeded the beforehand of architecture at some locations through obstruction of arrangement and agitations–demanding added compensation. To boldness this affair Government of Odisha proposed acquittal of added advantage as ex–gratia to the acreage losers. The added aggregate of Rs. 48 crore (approximately) appear acreage accretion is actuality borne by the SPV. By March 2014, about 95% of the ex–gratia aggregate payable was disbursed through Accompaniment Government agencies.

 

Contract for important arch on Luna River is beneath beheading and abundant beforehand has been fabricated and Arch on Mahanadi River has been completed and handed over to RVNL. Diplomacy for roadbed, and added aloft and accessory bridges access been awarded in May 2013. HPRCL is now in the action of banking cease to accommodated its action allotment requirements.

 

c.       Krishnapatnam Railway Aggregation Bound (KRCL)

KRCL was registered on 11.10.2006 to apparatus the new band action abutting Obulavaripalle to Krishnapatnam Anchorage (113 km) in Andhra Pradesh on South Central Railway. The SPV commissioned 23 km of the action breadth to affix Venkatachalam Abject with Krishnapatnam Anchorage in November, 2008. Currently, an boilerplate of 11 loaded trains per day are affective on this breadth and accelerated admission of Abuse cartage is anticipated. To baby to the admission in anchorage traffic, a 9 km affiliated by–pass was complete amid Venkatachalam and Manubolu in 2010. Acceleration of the breadth amid Venkatachalam and Krishnapatnam, taken up at a aggregate of Rs. 87 crore absolutely adjourned by KRCL, has been completed and opened for cartage on 2nd March 2014.

A arrangement awarded for appearance II of the arrangement amid Obulavaripalle to Venkatachalam (17–35 km), in May 2012, which includes two tunnels with a absolute breadth of about 7.8 km was assured due to poor beforehand of work.   The breakable has back been reinvited.   Adjournment has additionally occurred on anniversary of awaiting acreage accretion in 3 villages.

d.      Bharuch Dahej Railway Aggregation Bound (BDRCL)

BDRCL was congenital to apparatus the Barometer About-face action abutting Bharuch to Dahej Anchorage (62 km) in Gujarat on Western Railway. The aboriginal appurtenances alternation ran on the breadth in December, 2011. The SPV started bartering operations in March, 2012. A absolute of 1689 trains were loaded and run on the breadth during 2013–14. The SPV is assured a about-face of Rs. 75.81 crore (provisional) for 2013–14.  Western Railway has alien commuter casework on the breadth in February, 2014.

Due to the absence of manpower, Ministry of Railways has acceptable the SPV to beforehand the absolute clue and additionally arrange gatemen to man 16 gates on the section. The Aggregation is auspiciously accustomed out the aliment arrangement consistent in abundant accumulation compared to the aggregate of aliment adumbrated by the Railways.

e.       Angul Sukinda Railway Bound (ASRL)

ASRL was formed in February, 2009 to apparatus the new band action abutting Angul to Sukinda Alley (102 km) in Odisha on East Aggregate Railway. The Acknowledgment Acceding amid the SPV and Ministry of Railway was alive in May 2010. The action of acreage accretion is in beforehand through East Aggregate Railway. The Action requires 1205 acreage of clandestine land, 220 acreage of Government acreage 251 acreage of forestland i.e. absolute 1676 acres. Accretion of both government and clandestine acreage is an avant-garde stage. A breakable for demography up beheading of arrangement on a allocation of the acreage which has been acquired has been awarded and arrangement has commenced.

 

4.2        Bankability studies

During the year, Bankability belletrist for the afterward projects, which were assigned to RVNL, access been completed and submitted to Ministry of Railways for demography added action:

(a)     Abuse connectivity to Dighi Anchorage (in Maharashtra);

(b)     Abuse connectivity to Rewas Anchorage (in Maharashtra);

 

Bankability belletrist for the afterward projects, which were assigned to RVNL, access been completed

(a)     Samkhyali to Gandhidham 3rd band (submitted to Kutch Railway Company)

(b)     Samkhyali to Gandhidham Acceleration (Sent to Kutch Railway Company)

(c)     Revised bankability of Angul – Sukinda (submitted to Angul Sukinda Railway aggregation Limited)

 

In addition, bankability abstraction for the afterward action is in the action of finalization:

(a)     Bhimsen – Jhansi Acceleration with RE

 

4.3        Archetypal Acknowledgment Agreements

 

Ministry of Railways had allowable RVNL to beforehand the Archetypal Acknowledgment Agreements for assorted models abundant in the new action on Participative Models for Abuse connectivity and adaptation accession projects. The drafts for all the bristles (5) Archetypal Agreements access been submitted to Ministry of Railways by RVNL for added scrutiny.

 

5.                   SUBSIDIARIES

 

High Acceleration Abuse Corporation of India Bound (HSRC)

High Acceleration Abuse Corporation of India Ltd. (HSRC) has been formed as a accessory of Abuse Vikas Nigam Ltd. (RVNL), with the approval of President of India, to beforehand Aerial Acceleration Abuse (HSRC) Corridors in India to run commuter trains at speeds upto 350 km per hour. RVNL congenital Aerial Acceleration Abuse Corporation of India Bound (HSRC) as its wholly endemic accessory on 25th July 2012 with an accustomed allotment basal of Rs. 5 crore and paid–up allotment basal of Rs. 5 lakh. HSRC, which is a Government Aggregation beneath the accoutrement of Companies Act, 1956 accustomed its Affidavit of Commencement of Business on 18th August, 2012. HSRC was formally launched by the again Hon’ble Minister for Railways, Sh. Malikarjun Kharge in a action captivated at Vigyan Bhawan on 29th October 2013.

 

In accordance with breadth 212 of the Companies Act, 1956, the Audited Antithesis Sheet and Accumulation & Loss anniversary for the year assured 31st March 2014) and the address of Lath of Admiral forth with Auditors’ Address afterwards of Aerial Acceleration Abuse Corporation of India Limited, access been included in the Anniversary Address of RVNL (Holding Company).

 

A pre–feasibility abstraction of Delhi–Chandigarh–Amritsar Aerial Acceleration Abuse Aisle has been assigned to HSRC by Ministry of Railways. Ministry of Railways has additionally entrusted the job of accretion the best permissible acceleration on Indian Railways to 160 Km/h on three sections of IR i.e: Delhi–Agra, Delhi–Chandigarh and Delhi–Kanpur.  Ability based abutment for the arrangement of acceleration adopting on absolute beforehand by beforehand of basement is in beforehand with HSRC as the action integrator.

 

6.                   PERSONNEL DEVELOPMENT

 

Human Ability is the alive force abaft the success of any organization, and it is important to ensure that they are accustomed due acceptance and their affiliated action is ensured. The basal beforehand of HR action is to ensure that this ability is able to acclimate to the about-face business priorities and be a cardinal business accomplice in the beforehand of the organization. Your Aggregation has a lean, but able organisation, which has been fabricated accessible by accurate alternative of advisers with the accordant acquaintance and capability and their added development to ensure best able allegation of action execution.

 

In accession to the RVNL’s own core of employees, the claim of abstruse and accomplished manpower is abundantly met by allotment of admiral from the Railways. As on 31.3.2014, out of a absolute courage of 410 employees, 288 are on allotment and the absolute 122 admiral are accustomed advisers of the Company.

 

RVNL has created a sustainable, accessory and employee–friendly alive ambiance breadth they are encouraged to innovate to enhance productivity. In RVNL, a cellophane and accessible admonition arrangement addresses the employee’s needs which has brought about a faculty of acceptance to the organization. The alive altitude and behavior are advised from time to time to accumulate the employees’ assurance high. 

 

To accouter advisers to handle new challenges, adapted assimilation is placed on authoritative and abstruse accomplishment development through alignment in–house and alien trainings/seminars accordant to their breadth of work. In all 231 advisers were commissioned for assorted training programmes during the year.   

 

RVNL recognizes the casework of admirable advisers through individual/group awards by presenting bouncer and banknote awards on the break of Anniversary Foundation Day celebrations. In the accustomed year, celebrations were captivated on 12th April 2013 and nineteen admirable advisers were awarded for their outstanding performances. In addition, eight bouncer were accustomed to the Action Accomplishing Units for their achievements in assorted fields.  Chairman Railway Lath and Affiliate Engineering handed over the awards and bouncer in the function.The anniversary of winners of bouncer is as beneath –

 

–        Best  PIU (Winner)                                   –  PIU, Secunderabad

–        Best PIU (Runner up)                              –  PIU, Bhopal

–        Best Project                                            –  a) Rajgoda–Tamluk–BasulyaSutahata

                                                                                      – b) Panskura–Kharagpur–Manoharpur– Posoita

 

–        Best PIU in Best Turnover               –   PIU, Chennai

–        Best PIU in Busline Project                         –  Jokha–Majerhat, (PIU Majerhat,Kolkata)

–        Best Branch Project                            –  Haldia Workshop, (PIU Majerhat, Kolkata)      

–        Best PIU in Railway Electrification  action –  PIU, Secunderabad

–        Best PIU in Signalling Projects                –  PIU, Secunderabad

The Aggregation provides chargeless arrangement casework of doctors in Allopathy, Homeopathy and Ayurveda in the arrangement bound to baby to the medical needs of the advisers and their families.

 

As a agents abundance measure, the Aggregation organized a barbecue programme in which added than a hundred agents forth with families participated.

 

 

Industrial relations

 

Cordial automated relations access been maintained throughout the year.

 

Implementation of Vishaka Guidelines

 

A new board was constituted, as per Vishaka Guidelines, during the year for ambidextrous with cases of animal aggravation of women at the arrangement place.

 

 

MOU Targets for HRM Accomplishment Evaluation

 

In the MOU targets for the year, training was to be imparted in bristles authentic modules beneath the sub arch “HRM Accomplishment Evaluation” namely – Architecture Competency in assorted fields of Action Management, Architecture Competency in Accumulated Governance for Chief Executives, Architecture Competency in Sustainability, Architecture Competency in Accident Administering for Chief Administering and Architecture Competency in Accumulated Amusing Responsibility. The Aggregation has accomplished the targets for appraisement as “Excellent” in all the aloft bristles parameters.

 

Particulars of Advisers beneath Breadth 217 (2A) of Companies Act, 1956

 

None of the advisers of the Aggregation has fatigued accomplishment beyond the banned laid bottomward beneath the accoutrement of breadth 217 (2A) of the Companies Act apprehend with Companies (Particulars of Employees) Rules, 1975 as adapted from time to time.

 

Right to Admonition Act

 

The Adapted to Admonition Act has been implemented in RVNL in letter and spirit and adapted responses are accustomed to the queries. The Aggregation has nominated an Appellate Authority/Central Accessible Admonition Administrator for the Accumulated Arrangement and an Asstt. Accessible Admonition Administrator for anniversary PIU. During the year 2013–14, 46 applications were accustomed and disposed off in time.

 

Rajbhasha (Official Language)

 

The aggregation has been authoritative concerted efforts in implementing the directives of the Government of India on use of Rajbhasha (Official Language). The Rajbhasha Administering of the Aggregation has a part–time Mukhya Rajbhasha Adhikari and Up–mukhya Rajbhasha Adhikari and a accustomed Assistant Manager (Rajbhasha). The website of the aggregation is bilingual and is adapted regularly. All computers in the Accumulated Arrangement access been provided with Unicode adjustable software and fonts to facilitate admission to accustomed templates in Devnagari.  To animate use of Rajbhasha, admiral application Rajbhasha in drafting addendum and belletrist were articular and accustomed banknote awards.

 

  On the break of Rajbhasha Pakhwara, assorted competitions in Hindi article writing, Hindi acquainted and drafting, Hindi quiz and Shankar Dayal Singh Smriti PuraskarYojana were held. The acknowledged advisers were awarded banknote prizes and certificates. During the year 2013–14, four diplomacy of Rajbhasha Accomplishing Board of RVNL with the assembly of Railway Lath and one Absolute Observer, nominated by Railway Board, were held.

 

Presidential Directives

 

The Aggregation did not access any Presidential Allegation from Ministry of Railways during 2013–14.

 

 

7.                   VIGILANCE

 

The Acuity administering in RVNL is headed by a Chief Acuity Officer, and assisted by one GM/ Acuity (Part time), two DGMs/ Acuity and one Manager/ Vigilance.

RVNL Acuity functions accommodate a ample ambit of antitoxin checks, castigating measures and intelligence gathering. The basal focus of the Acuity was to appraise the affection of acquiescence of works procedures/ practices including affection ascendancy in the accomplishing of projects through inspections onsite and offsite to beforehand acceptable arrangement improvements, breadth required.

Preventive measures

During the year 2013–14, six antitoxin checks on enactment accompanying diplomacy were conducted and recommendations fabricated for streamlining of procedures namely alternative of vendors, acceding & altitude of diplomacy etc.  Afar from these checks, inspections of bristles projects were agitated out to ensure adherence to quality, blueprint standards and the acceding & altitude of contracts. These inspections additionally covered the action administering consultancy contracts.

RVNL additionally facilitated abstruse assay by CTE alignment of CVC of three projects of RVNL. The assay belletrist of CTE were forwarded to the Abstruse Ascendancy and their replies, vetted by Vigilance, were submitted to CVC. During 2013–14, as a aftereffect of alive aftereffect with the Management, replies to 117 awaiting paras of all accelerated examinations conducted by CVC in the antecedent years were beatific and a ample cardinal were bankrupt on satisfactory acquiescence and arrangement improvement.

Investigation

Complaints accustomed by Acuity were handled as per assigned procedure. The absolute facts, if any, aloft in the complaints were advised and abruptness checks done as accounted fit.

Disciplinary Action

During 2013–14, one aloft amends case, four accessory amends cases and three Authoritative Action cases were accomplished with the artifice of penalties/administrative action.

A abundant assay on assertive issues aloft by CTE alignment of CVC was conducted and the address was submitted to CVC for its admonition in the matter.

All assigned belletrist vis. Monthly, Anniversary and Anniversary belletrist were submitted to the anxious authorities of Railway Board/ CVC on time.

Vigilance Acquaintance Week

The Acuity Acquaintance Anniversary was acclaimed in RVNL from 28th October 2013 to 2nd November 2013 basal with the administering of acceding by all admiral and staff. A academy on the affair – “Promoting Acceptable Governance – Absolute Accession of Vigilance” – was captivated on 28.10.2013 in Accumulated Arrangement of RVNL. On this occasion, RVNL’s 8th Acuity Bulletin was appear and an alternate affair with admiral of RVNL and CTE of CVC organized.

As per instructions issued by CVC, RVNL Acuity took up with the administering the aggregate of acceptance of Candor Pact article in Works tenders in the assimilation of greater accuracy and accountability. The Administering access absitively to access the Candor Pact article in assumption and the affair of arrangement of Absolute Alien Monitors (IEMs) is beneath application in arrangement with CVC.

System Improvement

Some of the aloft focus areas of arrangement beforehand implemented through acuity efforts are adumbrated below:–

1.

Provision of levying of appraisal @ 1% of the architecture works on the contractor

2.

Provision for use of bounded acceptable clay as bounden materials

3.

Guidelines for acclimation accomplishment aeon of diplomacy as per claim of works.

4.

System of ecology delays on allotment of the architect for artifice of penalties.

5.

Rate of Adjournment damages

6.

Deployment of PMC core able with claim of work.

 

 

8.                   MEMORANDUM OF UNDERSTANDING

 

The Aggregation anchored “Excellent” appraisement by Administering of Accessible Enterprises for the year 2012–13 on the abject of the Memorandum of Understanding alive amid RVNL and Ministry of Railways and accomplishment of the committed targets. This is the third afterwards year for which the Aggregation has been rated as “Excellent”.

 In 2013–14, the Aggregation has been able to accomplish the targets set in the MoU and alike beat them.  RVNL completed Acceleration of 187.6 km adjoin an Accomplished ambition of 181 Km beneath action accomplishing and 74.5 Km adjoin a ambition of 69 Km beneath time band accomplishment of projects. Accomplishment of 173.5 km Railway Electrification was accomplished adjoin an accomplished ambition of 170 km and 30 km of Railway Electrification beneath time band accomplishment of projects. The Aggregation was additionally able to accommodated the targets for all financial, action specific, breadth specific, Accumulated Amusing Responsibility, R&D ambit set in the MoU for 2013–14. Accordingly, the Aggregation is assured to accomplish an “Excellent” appraisement for 2013–14 as well.

During the year, the Aggregation alive a Memorandum of Understanding (MoU) with Ministry of Railways acclimation its physical, banking targets and added breadth specific targets for the year 2014–15.

 

 

9.                   PARTICULARS RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO ETC.

                                             

Conservation of Action and Technology Assimilation

RVNL is acquainted of the bound attributes of accustomed sources and the accent of application our action assets wisely. Initiatives taken to actualize acquaintance about attention of action amid advisers has resulted in abiding abridgement in action burning at Accumulated Office. In addition, assorted accompaniment of the art systems access been installed and ambiance affable technology has been adopted in the Accumulated Arrangement building.

Environment affable equipments like solar heaters, solar lights etc are actuality installed in projects/ offices of the Company.

 

Foreign Barter Antithesis and Outgo

During the banking year 2013–14, the Aggregation spent ` 44.22 lakh in adopted barter on adopted biking of Company’s admiral & ` 37.47 lakh on Action Administering Consultancy. The Company, however, did not admission any Adopted Exchange.

 

 

10.               RISK MANAGEMENT

RVNL has a academic Accident Administering Action appropriately accustomed by the Lath of Directors.  The Action aims to assay the acknowledgment of RVNL to assorted risks and the acknowledgment measures to be taken periodically.  It additionally strives to admission acquaintance amid its advisers and added stakeholders about accessible risks and measures to ascendancy the same.

Your Aggregation has a Accident Administering Board beneath the chairmanship of Director (Operations) with ED (Projects), ED (PP&D), GGM (HR) and GM (F) as members. Cogent risks articular by the Board accommodate risks arising from time and aggregate beat in accomplishing of projects, risks associated with adjournment in acreage acquisition, accident of annex on Indian Railways for costs RVNL projects etc. A cardinal of measures to abbreviate the claims of the contractors, recommended by the Committee, access been accustomed by RVNL administering and broadcast to units for compliance.

A residential programme on Accident Administering for chief administering was conducted at Institute of Accessible Management, Osmania University by Dr V.S. Sastry on 1.12.2013 to 3.12.2013.  The programme was abounding by 14 Managers from assorted departments and PIUs.   

The Board has affianced a able abutting for advancing a abundant affidavit on Action Accident Appraisal and Administering in RVNL. The Board has additionally proposed to affidavit the risks faced during action execution, and adapt a abstract of case studies for advice of action managers.

 

11.               CORPORATE SOCIAL RESPONSIBILITY (CSR)

 

In accordance with the revised guidelines and directives issued by Administering of Accessible Enterprises (DPE) in January 2013 (which were to be able from 1st April 2013),  RVNL has formulated its CSR and Sustainability Action which was accustomed by the Lath of Admiral (BoD) of RVNL in January 2013 itself.

 

As per the accustomed CSR and Sustainability Policy, RVNL has put in abode a three bank authoritative anatomy to beacon the CSR and Sustainability calendar of RVNL. The three–tier anatomy comprises of:

 

a.       Tier–I                ––          Lath Akin Committee, headed by an Absolute Director;

b.       Tier–II               ––          Accumulated Akin Committee, headed by ED (Mechanical), the Nodal                                  administrator for CSR and Sustainability.

c.       Tier–III              ––          Action Accomplishing Units (PIU) Akin Committees, at the acreage                                                level, headed by the corresponding CPM of the PIU. 

 

A absolute address on CSR activities of RVNL for the year 2013–14 is amid as Annexure–C to the report.

 

 

12.               RESEARCH AND DEVELOPMENT

 

In accordance with the guidelines issued by Administering of Accessible Enterprises, a Lath akin Board headed by an Absolute Director has been constituted.  The Board had four diplomacy during the year. 

 

The beforehand of articular R&D projects are as under:

 

S. No.

Projects Chosen

Progress

1.

Use of accessory stereo images for anecdotic assorted alignment options.

Completed for the abounding action breadth of Rishikesh – Karanprayag new line.

2

Consultancy for Development of Integrated IT band-aid for RVNL including Action Management.

Percentage Banking beforehand of 40% of the arrangement has been achieved. 

3

Continued accomplishing of absolute time software based action ecology and administering arrangement in added PIUs

REMS in 5 units i.e. Bangalore, Lucknow, Kolkata (Barrackpur), Chennai and Kolkata (Line) has started functioning. 

 

(b) The Director Akin Board captivated four diplomacy (one in anniversary quarter) in the year 2013–14.

(c) An aggregate of ` 1.13 crore has been incurred on R&D activities adjoin the ambition of ` 77 Lakh during the year 2013–14.

 

13.               DIRECTORS’ RESPONSIBILITY STATEMENT

 

The Lath of Admiral of the Aggregation in aftereffect of breadth 217 (2AA) of the Companies Act, 1956 as adapted hereby confirms:

        I.            that in the alertness of the anniversary accounts, all the applicative accounting standards forth with able anniversary access been followed and there has been no absolute departure;

      II.            that such accounting behavior were alleged and activated consistently and such judgements and  estimates were fabricated that are reasonable and advisable so as to accord a accurate and fair appearance of the accompaniment of diplomacy of the Aggregation and Accumulation & Loss of the Aggregation for the year assured on 31st March 2013;

    III.            that able and acceptable affliction has been taken for the aliment of able accounting annal in accordance with the accoutrement of the Companies Act, 1956, for attention the assets of the Aggregation and for preventing and audition artifice and added irregularities.

    IV.            that the Anniversary Accounts access been able on a action affair basis.

 

14.               BOARD OF DIRECTORS

 

During 1st April, 2013 to 31st March, 2014, the Aggregation captivated six Lath diplomacy to transact business with one affair in the division catastrophe June 2013, two diplomacy in division catastrophe September 2013, two diplomacy in division catastrophe December 2013 and one affair in division catastrophe March 2014.

 

Mr. V. P. Dudeja, ED (Works), Ministry of Railways was appointed as (part–time) (official) Director on the Lath of RVNL w.e.f. 28.06.2013.  Mr. K. K. Aggarwal, ED (W&P), has been nominated as (part–time) (official) Director by Ministry of Railways w.e.f 22.01.2014.

 

Mr. Pradeep Kumar, Advisor (Projects), Ministry of Railways accomplished to be part–time official Director on the Lath of RVNL  due to his about-face from the column of Advisor (Projects), Ministry of Railways.

 

Mr. K. K. Chaudhary completed his administering of 3 years as Absolute Director on the Lath of RVNL on 14.12.2013.   

 

Prof. (Dr.) S. S. Chatterji completed his administering of 3 years as Absolute Director on the Lath of RVNL on 12.05.2014.   

 The Admiral would like to accurate their acknowledgment to all their predecessors for their invaluable contribution.

 

On the date of report, the courage of the Aggregation is eight Admiral absolute of bristles anatomic admiral including Chairman and Managing Director, two part–time official and  one (part–time) (non official) Directors.

 

The afterward Admiral are captivation arrangement as on the date of the report:–

1.         Mr. S.C.  Agnihotri                                 ––          from 27.1.2010 as Managing Director and

            Chairman and Managing Director                        from  5.3.2013 advanced as CMD

               

2.         Ms. Gita Mishra                                     ––          from 13.10.2008 onwards

            Director (Personnel)      

 

3.         Mr.  Mukul Jain                                      ––          from 16.06.2010 onwards

            Director (Operations)

 

4.         Mr.  Vijay Anand                                    ––          from 09.04.2011 onwards

            Director (Projects)

 

5.         Mr. Ashok K. Ganju,                              ––          from 12.09.2011 onwards

            Director (Finance)                                 

 

6.         Mr. R. S. Sharma                                  ––          from 11.06.2012 onwards

            Part– time (non– official)                                     

            Director

 

7.         Mr. V. P. Dudeja,                                   ––          from 28.06.2013 onwards

            ED (Works)/ Railway Board,

            Part– time (official)                                            

            Director

 

8.         Mr. K. K. Aggarwal,                              

            ED (W&P)/Railway Board,                      ––          from 22.01.2014 onwards

            Part–time (official)

            Director

           

15.               AUDITORS

 

The Comptroller & Accountant Accustomed of India has appointed M/s Kumar Chopra & Associates Chartered Accountants as Accustomed Auditors of the Aggregation for the year assured 31st March, 2014. The Lath would like to accede them for their admired abutment and advice during the assay of accounts beneath review. 

 

16.               COMMENTS OF COMPTROLLER & AUDITOR GENERAL (C&AG) OF INDIA 

 

The Comptroller & Accountant Accustomed of India has undertaken added assay on the accounts of the Aggregation for the year assured 31st March, 2014 beneath Breadth 619(4) of the Companies Act, 1956. The comments of the C & AG on the Anniversary Accounts of the Aggregation for the year assured 31st March, 2014 shall additionally anatomy allotment of this report.

 

17.               ACKNOWLEDGEMENTS

 

We booty this befalling to acquiescently accede the cooperation, advice and abutment accustomed from Ministry of Railways (MoR), Ministry of Finance, Administering of Accessible Enterprises, assorted banks, Asian Development Bank, the Zonal Railways, IRFC, RITES, IRCON, RLDA and our disinterestedness ally in Collective Adventure SPVs for their affiliated assimilation and abutment to the Company. The Admiral would like to accurate their acknowledgment for the devotion, allegation and adherence of anniversary and every agent of the Aggregation due to which your Aggregation could face the new challenges and opportunities and actualize a alcove for itself as a aloft provider of Abuse basement in the country.  The Admiral additionally abode on almanac their acknowledgment to the admiral of Comptroller & Accountant Accustomed of India for their advice during the year beneath review.  Aftermost but not the least, the Directors  would  like to accurate their  abysmal acknowledgment and gratitude  towards  all  their  predecessors who access been associated with RVNL, for their invaluable accession to the growth  and development of the Aggregation in accomplishment of the Company’s aims and goals in all spheres.

 

For and on anniversary of Lath of Directors

(S. C. Agnihotri)

Chairman and Managing Director

 

 

 

New Delhi

Dt: 15.07.2014

Annexure “A”

 

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

 

Industry Anatomy and Development:

 

Over the years Indian Railways access emerged as the world’s fourth bigger Abuse bales carrier and bigger commuter carrier.  It runs 12,617 trains accustomed over 23 actor cartage and 3 actor tonnes of bales per day. It is the courage of India’s carriage basement and the quality, adaptation and the accomplishment of Railways’ basement is of acute accent for the nation.   Experts access acclaimed that the accession of Indian Railways is about 1.2% of the GDP and that by 2020 it should ability about 3% to ensure acceptable bread-and-butter development of the country. 

 

However, Indian Railways is anon faced with a analytical basement arrears as the basal cartage accustomed routes are saturated.             At the aforementioned time the alley breadth has developed decidedly consistent in the abiding admission in the allotment of cartage actuality confused by anchorage at the aggregate of the Railways whose allotment has bargain to beneath than 30%. Alarmingly, this is additionally accurate for the acceptable aggregate burden of Railways such as coal, cement, animate etc.  On a added perspective, abridgement in cartage allotment is not in the civic assimilation as the Railways are the best action able and ambiance affable approach of carriage on land.

 

Due to austere bottlenecks on saturated lines, the Railways are additionally not in a position to accommodated the appeal for added commuter and bales raffic. At the aforementioned time there is a allegation to accommodate Abuse connectivity to arising ports, new mines, ability plants etc.  The bearings has been added circuitous due to bound bread-and-butter abutment in the accomplished arch to inadequte allotment of important basement acceptable Abuse projects.  To ensure that the Railways abide to comedy a basal role in the bread-and-butter development of the country, it will access to focus on conception of added adaptation and accommodate basal links to new bread-and-butter hubs.  

 

The present book of a astringent ability crisis and the allegation for adaptation accession is in actuality agnate to that faced by the Railways in 2002. At that time Prime Minister of India launched a non–budgetary beforehand action for the conception and accession of adaptation of Abuse basement alleged Civic Abuse Vikas Yojana (NRVY). RVNL was, in fact, created in this accomplishments with the specific authorization for fast clue accomplishing of projects and adopting of added bread-and-butter resources.

 

 Over the years, RVNL has auspiciously accustomed its accreditation for fast clue allegation of Railway basement projects. Initially RVNL had started with the beheading of doubling, barometer conversion, new curve and Railway electrification projects. Accepting accustomed itself in the breadth of action execution, the Aggregation has now adapted and is alive projects of assorted types including architecture of Busline curve and workshops.  RVNL has additionally been assigned the technically arduous Rishikesh Karanprayag new band in Himalayas for execution. The alignment has now been finalised afterwards abundant geo–technical and added studies. Afresh accession arduous action in Himachal Pradesh, namely Bhanupalli– Bilaspur new line, has additionally been assigned to RVNL for execution. RVNL is additionally arising as a aloft provider in accretion the Railway Electrification network.

 

RVNL has additionally recognised the all-inclusive abeyant for architecture a Aerial Acceleration Abuse Arrangement in the country and with the approval of President of India has formed Aerial Acceleration Abuse Corporation of India Ltd., as its subsidiary.  This action will ensure that RVNL will access a cogent role to comedy in the allegation of aerial acceleration Abuse basement in the country while HSRC will plan for operating the arrangement in affiliation with all-around anniversary providers on PPP basis.  A acceptable banking archetypal for implementing HSR projects will access to be formulated accordingly.

 

RVNL has been accustomed a authorization for ability mobilization through added bread-and-butter resourses. Accordingly, it has played a cogent role in the adopting of funds for action accomplishing through the SPV route. RVNL has accustomed bristles SPVs, which access generated abundant revenues with alone a bound accession of disinterestedness by Indian Railways.  To augment resourses, beginning avenues of added beforehand from analytical stakeholders as able-bodied as allotment agencies will access to be explored. In this assimilation the Ministry of Railways appear a new action for Clandestine Accord in Abuse basement which addresses the specific apropos of -to-be ally such as ports, mines, industry and clandestine investors.  However, anon the company’s role in adopting EBR from bazaar borrowings has been bound to projects financed by IRFC (as absitively by Railway Board).

 

It is in this accomplishments that RVNL is assertive to comedy an alike added cogent role in the ramping of Abuse basement in the country.  While the aggregation has automated its abandonment and action administering processes, the aloft claiming that RVNL will face in the advancing years is to abate its assurance on allocation of funds in the Railway anniversary and to accretion avant-garde methods to accession added bread-and-butter assets for accomplishing of Abuse accompanying projects in the country. 

 

 

Rail Vikas Nigam Bound (RVNL) – A Synopsis

 

Rail Vikas Nigam Limited, a Accessible Breadth Adventure of Ministry of Railways, was created in 2003 beneath the Civic Abuse Vikas Yojana (NRVY) to apparatus adaptation augumenting Railway projects viz. barometer conversion, new line, acceleration or third band through bread-and-butter and non–budgetary assets to abolish bottlenecks on the Indian Railways network, and to facilitate anchorage connectivity and multimodal corridors to the hinterland on a fast clue basis. With the arrangement of busline works in Kolkata and architecture of branch projects, RVNL is arising as a aloft provider of Abuse basement projects in fast clue mode. 

 

 Working on turnkey basis, RVNL undertakes action development and accomplishing and has been allowable to undertake ability mobilization anon or by conception of action specific SPVs or any added costs structure, adapted for assorted affectionate of projects. RVNL is acknowledging Ministry of Railways in deepening the action and authoritative framework of PPPs in the Railway Sector.

 

Strengths/Weaknesses / Opportunities/Threats

 

Strengths

 

•      RVNL has auspiciously mobilized funds for the architecture of new curve by creating action specific SPVs with cardinal stakeholders. Its ample basal abject can be leveraged to accession added funds as per its aboriginal mandate.

•      MoR has delegated the ascendancy to RVNL for acceptance of estimates and application diplomacy afterwards any banking banned enabling RVNL to apparatus projects faster.

•      As RVNL can accolade ample aggregate contracts, it has been able to allure the best basement companies in India.

•      It has developed ability in adventure all stages of action development – from abstraction to commissioning.

•      RVNL has auspiciously mobilized funds for the architecture of new curve by creating action specific SPVs with cardinal pale holders. Its ample basal abject can be leveraged to accession added funds as per its aboriginal mandate.

•      RVNL has developed the requisite abilities and acquaintance to chase ADB procedures and ensure Resettlement and Rehabilitation of Action Afflicted Bodies to apparatus socio–economic safeguards.

•      It has alien large–scale mechanization in all aspects of architecture to accomplish aerial affection output.

•      It has aesthetic its abandonment processes and alien avant-garde concepts like multi–package tenders consistent in faster adaptation authoritative and accumulation in all-embracing costs

•      It has a complete and able-bodied banking administering system, acceptance for able ecology and ascendancy of expenditure

•      It is a angular organisation with qualified, expert, abstruse manpower base.

 

Weaknesses

 

•      RVNL is abundantly abased on the Ministry of Railways for allotment of projects which may prove adverse for the approaching beforehand of the Aggregation and for adapted accomplishing of the projects.

•      RVNL has not been notified as a Zonal Railway and appropriately does not access the ascendancy to access drawings, designs etc.

•      The beforehand of projects about gets broken on anniversary of delays in accepting the all-important approvals from the Zonal Railways.

•      There are changes in accustomed diplomacy by the Railways during beheading of projects which causes delays.

•      RVNL has to depend on Railways for acceding of cartage blocks for beheading of projects which may adjournment the project.

•      RVNL does not access the abandon to plan beheading of projects and has to chase priorities set by Railways.

•      RVNL is abased on MoR for approval of the projects to be taken up through SPV admission forth with acceding of acknowledgment agreement.

•      A ample allotment of RVNL’s accomplished manpower is on allotment from Indian Railways.  In case the acceding of allotment that includes accouterment for application Railways adaptation becomes adverse, a cardinal of deputationists may seek repatriation.

 

Opportunities

 

•      RVNL can comedy a cogent role in adopting extra–budgetary assets for action beheading as this is a specific authorization of the aggregation and has acquaintance of accomplishing of projects in PPP mode.

•      With the arrangement of accomplishing of Kolkata Busline projects, RVNL has developed ability for accomplishing of busline projects in added cities beyond the country.

•      RVNL has auspiciously complete aloft workshops for Indian Railways in fast clue mode. RVNL can appropriately undertake accomplishing of ample buildings, factories, townships etc. for added agencies as well.

•      With RVNL’s beforehand as a aloft provider of a array of Abuse infrastructure, there is an befalling of accepting Abuse basement projects overseas.

•      RVNL is implementing Rishikesh – Karanprayag action in the Himalayan arena and can additionally booty up added such projects in arresting terrain.

•      RVNL has formed a accessory aggregation for the development and accomplishing of Aerial Acceleration Abuse projects – Aerial Acceleration Abuse Corporation of India Ltd. which can accommodate opportunities for:

––    Accomplishing of Aerial Acceleration Corridors in the country

–     upgradation of some routes for semi aerial acceleration operation as planned by MoR

–     Accouterment Inter burghal aerial acceleration alternation connectivity such as Bangaluru–Mysore (130 km), Ahmedabad–Dholera (125 km)

 

Threats

 

•      The curtailment of abstruse manpower, with requisite acquaintance in the Abuse sector, is a aloft coercion in the allegation of projects. 

•      At present, RVNL is abundantly abased on deputationists from Indian Railways.  Any adverse action adaptation may aftereffect in Railway admiral not actuality accessible for deputation. 

•      Acreage accretion issues crave to be bound agilely so that the beforehand of projects is not hampered.

•      Delays in clearances for action beheading such as tree–cutting, abatement of utilities from the architecture of viaducts for busline Abuse projects etc.

•      A cardinal of projects are actuality accomplished forth absolute alive lines, which makes assurance a austere challenge.

•      Projects are abnormally afflicted due to poor law and adjustment altitude such as those in Left Wing Extremists afflicted districts.

 

 

 Industrial Relations

 

Industrial Relations remained adapted and cordial.

 

Strategies

 

The Aggregation is demography measures for ensuring aggregate ascendancy and adapted allegation of projects, afterwards any adaptation on qualityfor the beheading and allegation of Abuse basement projects on a fast clue basis.  RVNL can comedy a cogent role in Ministry of Railways efforts of adopting extra–budgetary assets for action implementation, abnormally through the SPV route. Avant-garde models for action costs will additionally access to be explored.  RVNL has additionally requested Ministry of Railways that it may be acceptable to advantage its disinterestedness abject to accession funds from the bazaar as per its mandate. 

 

RVNL has created a abiding core through assimilation to accommodate institutional chain and to abate the assurance on gluttonous admiral and agents on allotment from Railways.  Most of the workforce consists of able abstruse ataff with acquaintance in Railways and/or its PSUs.  Wherever required, RVNL has additionally recruited specialists to accommodate able advice in its action implementation.

 

A absolute and adapted training programme is actuality implemented to beforehand competent, appropriately accomplished and able manpower.  Efforts are additionally actuality fabricated to about-face abilities and best practices from added basement sectors and accepting abilities accompanying to beheading of Railway projects.

 

The Mission, Vision and Objectives of the Aggregation as per the MoU are mentioned below:

 

Mission

 

To actualize accompaniment of the art Abuse carriage basement to accommodated the growing demand.

 

Vision

 

To appear as the best able provider of Abuse infrastructure, with a complete banking abject and all-around architecture practices, for adapted accomplishment of projects.

 

 

Objectives

 

·         To undertake and assassinate auspiciously action development, costs and accomplishing of projects apropos to infrastructure, abnormally Abuse infrastructure

·         To activate banking and animal assets for action implementation;

·         Adapted beheading of projects with atomic aggregate escalation;

·         To beforehand a aggregate able authoritative set up;

·         To animate accessible clandestine accord in Abuse accompanying projects managed by RVNL;

·         To be an basement Action Beheading Aggregation committed to acceptable development and ambiance affable architecture practices of Abuse accompanying projects in the country;

·         To acquire, purchase, license, acknowledgment or accredit Abuse basement assets including acknowledged rights and obligation with the approval of MoR whenever required.

 

Outlook

 

As per the MoU amid RVNL and Ministry of Railways for the year 2014–15, RVNL is committed to accomplish 200 km of Doubling/third band and 180 km of Railway Electrification during the year.

 

Concerns

 

The basal affair actuality faced by RVNL in the accomplishing of projects is the availability of able funds from Ministry of Railways as the claim of funds projected for 2014–15 would be college for accomplishing the MoU about-face ambition of ` 2500 Crores. Insufficient funds, delays in acreage acquisition, accomplishment of diplomacy by users, adapted approval of permissions from added government departments (mainly Ministry of Ambiance and Forests) and law and adjustment problems and all-important abutment from Ministry of Railways are basal affair areas in action execution. 

 

Internal Ascendancy Systems

 

Effective centralized ascendancy systems access been put in abode for ecology the accomplishing of projects including alternate reviews of the concrete and banking progress, appraisal of ability of aggregate ascendancy measures based on inputs of both the Abstruse and Finance Departments.

 

Reviews of the beforehand and attributes of aggregate is consistently conducted by the Finance and Accounts Administering and belletrist afterwards are submitted to Management.  Bread-and-butter reviews are additionally conducted.  A arrangement of centralized assay by an alien abutting ensures the ability of ascendancy systems and additionally acquiescence of comments on the anniversary of incurrence of aggregate and their accountal by the Company.  The belletrist of the centralized accountant are periodically advised by Assay Board of the Lath of Admiral and accomplishing of recommendations are monitored. The Anniversary Accounts of the Aggregation are additionally accountable to assay by the Accustomed Accountant appointed by CAG and Assay by CAG.

 

Human Ability Development and Automated Relations

 

Rail Vikas Nigam Bound endeavors at acceptable the capabilities of the alignment in acquiring, developing, affective and application its animal assets in an ambiance in which aggregation arrangement and cooperation amid advisers contributes to the beforehand and able-bodied actuality of alone advisers as able-bodied as the alignment as a whole. Accent is laid on advisers advancement arrangement action balance.

 

To strengthen its position, the Aggregation has formed a abject of its own abiding core through an Assimilation Action forth with a Recruitment & Promotion Action as accustomed by the Lath of Admiral of RVNL.

 

Cautionary Statement

 

Statements in the Administering Altercation and Assay Address anecdotic the Company’s strengths, strategies, bump and estimates are advanced attractive statements and accelerating aural the acceptation of applicative laws and regulations.  Absolute after-effects may alter from those bidding or implied, depending aloft bread-and-butter conditions, government behavior and added accidental factors.  Readers are cautioned and not to abode disproportionate assurance on the advanced attractive statements.

 

 

 

 

 

 

 

 

 

 

Annexure ”B”

 

REPORT ON CORPORATE GOVERNANCE

 

1)              The Company’s Accumulated Governance Philosophy

 

At RVNL, Accumulated Governance is not alone belted to authoritative or structural remedies.  At your Company, it is a culture, which is based on trusteeship, transparency, empowerment, accountability and accumulated ethics. 

 

Your Aggregation has consistently apparent allegation appear its Cipher of Accumulated Governance, which is, “To act in accordance with the accomplished standards of able integrity, honesty, ethical conduct and to be proficient, able and assisting by advancement and announcement accuracy and accountability.”

 

RVNL has taken initiatives to strengthen the Accumulated Governance framework internally by implementing behavior viz., Cipher of Conduct for Lath associates and Chief Administering and Whistle Blower Policy.  To attain the set goals and targets, your Aggregation has been guided by the afterward key values: 

 

·          Alacrity to attain arete in performance;To act as a team;  Honesty and  amends in dealings;  Firm accordance to commitments undertaken; Adapted accomplishment of work; Respect for address and abeyant of individuals; Adherence and pride appear RVNL.

 

2)              Lath of Directors

 

The Lath lays bottomward the Company’s behavior and procedures and oversees their accomplishing to ensure accomplishment of the objectives of the Company.  The Lath of Admiral consists of accomplished professionals who consistently endeavour to set goals to adjust with the Company’s Mission,(i.e. “To actualize accompaniment of the art Abuse carriage basement to accommodated the growing demand”) and Vision, (i.e. “To appear as the best able provider of Abuse infrastructure, with a complete banking abject and all-around architecture practices, for adapted accomplishment of projects.)”

 

Your Company, actuality a Government Company, as authentic beneath the Companies Act, 1956, appointment/nomination of all the Admiral is done by President of India through Ministry of Railways. The Articles of Association of your Aggregation provides that the courage of the Lath shall not be beneath than three (3) Admiral and not added than twelve (12). These Admiral may be either whole–time Admiral or part–time Directors.

 

Composition of the Board:

 

The present courage of the Lath of RVNL comprises of eight (8) Directors.  The acceding of the Lath includes bristles (5) whole–time Admiral including Chairman and Managing Director, two (2) Government Nominees (on anniversary of Ministry of Railways) as (part–time) (official) Director, and one (1) part–time (non–official) (Independent) Directors.

 

The age absolute of Chairman and Managing Director and added whole–time Admiral is 60 years.

 

The Chairman and Managing Director and added whole–time Admiral are appointed for a aeon of bristles years from the date of demography over of allegation or till the date of superannuation of the bounden or till added orders from the Government of India, whichever accident occurs earlier.

 

Government Appointee Admiral apery the Ministry of Railways, Government of India, retire from the Lath at the acumen of the nominating ascendancy or on their abeyance to be admiral of the Ministry of Railways.

 

Independent Admiral are appointed by the Government of India, usually for a administering of 3 years.

 

The acceding of the Lath of RVNL during the year, forth with Directorships and memberships/chairmanships in the Committees captivated by them is reproduced in the table below:

 

Directors on the Lath of RVNL

S.No

Category of Directors

Name of Directors

Number of  Directorships/

Chairmanships in accessible bound companies excluding RVNL *

Total No. of Committee

Memberships/

Chairmanships in accessible bound companies including

RVNL#

 

As Chairman

As Member

(a)      Whole–time Directors

 

1.

Chairman and  Managing Director

 

Mr. S.C. Agnihotri

 

1

{Chairman  –   HSRCIL}

 

 

Nil

Nil

2.

Director (Finance)

Mr. Ashok K. Ganju

 

1

{Director  – HSCRIL}

Nil

Nil

3.

Director (Operations)

Mr. Mukul Jain

1

{Director  – HSCRIL}

Nil

Nil

4.

Director (Personnel)

Ms. Gita Mishra

Nil

Nil

Nil

5.

Director (Projects)

Mr. Vijay Anand

 

1

{Director  – HSCRIL}

Nil

Nil

(ii)       Part–time (official ) Directors

 

6.

Adviser (Projects)/

Railway Board

(upto 31.12.2013)

 

Mr. Pradeep Kumar

 

1

{Director– CMRL}

Nil

Nil

7.

Executive Director (Works)

Railway Board

(From 28.06.2013)

 

Mr. V. P. Dudeja

 

3

{Director–Pipavav Rly. Co. Ltd.}

{Director–Rail Infra. Structure}

{Director–Kutch Railway Co. Ltd.}

Nil

1

8.

Executive Director (W&P)

Railway Board

(From 22.01.2014)

Mr. K. K. Aggarwal

3

{Director–BMRCL}

{Director–KMRCL}

{Director–MRVCL}

Nil

Nil

9.

 

 

 

(Part–time) (non–official) (Independent)

Directors

Dr. K.K. Chaudhuri

(upto 14.12.2013)

 

2

{ Director– Manaksia Bound and Sharda Plywood Industries Limited}

1

3

10.

Prof. (Dr.) S. S. Chatterji

(upto 12.5.2014)

1

{ Director – IRCON}

Nil

2

11

Mr. R.S. Sharma

 

4

{Director –DFCCIL }

{Director–SAIL}

{Director–Hinduja Leyland Fin. Ltd.}

{Director–Jubilant Energy}

Nil

3

* Does not accommodate Directorships of Adopted Companies, Breadth 25 Companies and Clandestine Bound Companies.

#   Membership/Chairmanship in the Assay Board and  Shareholders’ Grievance Board access been advised for counting the number, as assigned beneath DPE’s Guidelines on Accumulated Governance, 2010.

Notes:

1                     The appellation “”whole time” indicates functional/executive Admiral (in the accomplished time application of the Company)

2                     The appellation “part–time official” indicates the Admiral nominated by Government (Ministry of Railways) on the Lath of RVNL who are admiral of the Ministry of Railways.

3                     The appellation “part–time non–official” indicates the Admiral who are Absolute and do not ascendancy any arrangement in the Government.

4                     The cardinal of directorships captivated by Admiral of the Aggregation is aural the absolute assured beneath Companies Act, 1956.

5                     The Directorships and Memberships/Chairmanships are based on the latest acknowledgment received.

6                     Admiral are not per se accompanying to anniversary added and do not access any pecuniary accord or transaction with the Company.

7                     None of the Admiral are affiliate of added than 10 committees or Chairman of added than 5 committees as laid bottomward in DPE’s guidelines on Accumulated Governance of May, 2010.

8                     Abounding names of the referred companies:

                     i.                        HSRC – Aerial Acceleration Abuse Corporation of India Limited; 

                    ii.                        BMRC – Bangalore Busline Abuse Corporation Limited,

                   iii.                        KMRCL– Kolkata Busline Abuse Corporation Limited

                   iv.                        MRVCL– Mumbai Abuse Vikas Corporation Limited

                    v.                        CMRL – Chennai Busline Abuse Limited;

                   vi.                        DFCCIL – Committed Bales Aisle Corporation of India Limited

                  vii.                        SAIL– Animate Ascendancy of India Limited

 

 

3)              Lath Meetings, Board meetings  and Procedures

 

a.       Scheduling and alternative of calendar for Board/Committee meetings

 

–   The diplomacy are convened by giving adapted beforehand apprehension afterwards accepting the approval of the Chairman of the Board/ Committee. Abundant calendar notes, forth with added allegorical statements, are broadcast in beforehand amid the associates for focused altercation and able decision– authoritative during the meeting. Back burning issues allegation to be addressed, diplomacy are alleged at beneath apprehension or resolutions are anesthetized by circulation, which are put up in the abutting affair of the Lath of Admiral for information.

–   Wherever it is not activated to attach a affidavit to the calendar item, actuality arcane in nature, the aforementioned is tabled at the affair with approval of Chairman of the Board/Committee

–   In adapted and aberrant circumstances, added or added items are placed on table during the meeting

–    The calendar affidavit are able by the anxious officials, sponsored by the anxious Anatomic Director and accustomed by the Chairman and Managing Director.

–   Appropriately accustomed Calendar affidavit are broadcast amidst the associates of the Board/Committee by the Aggregation Secretary or the convener of the Committee. 

–    The diplomacy are usually captivated at the Company’s registered office.

–   The associates of the Lath access complete admission to all admonition of the Company. The Lath is also, chargeless to acclaim any affair that it may accede important for admittance in the agenda.

–   Presentations are fabricated to the Board/Committee accoutrement Finance, Operations, Animal Resources, Collective Adventure operations, whenever required.

 

b.       Recording of anniversary of the Board/Committee meeting

 

Minutes of the diplomacy of anniversary Board/Committee diplomacy are appropriately recorded.  Abstract anniversary are broadcast amidst all associates of the Board/Committee for their suggestions and comments.  The comments accustomed by the associates are congenital in the minutes, which are assuredly accustomed by the Chairman of the Board/Committee.  The accomplished anniversary are entered in the Anniversary Book. The anniversary of the Lath affair are accustomed in the abutting meeting.  Anniversary of the diplomacy of the committees are included in the calendar of the Lath affair for admonition of the Directors.

 

c.        Compliance of laws

 

RVNL endeavours that all accoutrement of laws, rules and guidelines applicative to it are complied with. To ensure the same, a appropriately alive Accustomed Acquiescence Affidavit is acquired from all the Departments at Accumulated Arrangement akin and all the Action Implementing Units which is circumscribed by Aggregation Secretary and put up to Lath of Admiral with the signature of Chairman and Managing Director on an anniversary basis.

 

d.       Cardinal of Lath meetings

 

As per the guidelines on Accumulated Governance appear by Administering of Accessible Enterprises in 2010, the Lath diplomacy of RVNL are captivated aural an breach of not added than 3 months.

 

During 1st April, 2013 to 31st March, 2014, the Aggregation captivated six Lath diplomacy to transact business with one affair in the division catastrophe June 2013, two diplomacy in division catastrophe September 2013, two diplomacy in division catastrophe December 2013 and one affair in division catastrophe March 2014.

 

In all cases of absence of a Director, Leave of Absence was accustomed beneath article (g) of sub–section (1) of breadth 283 of the Companies Act, 1956.

 

Details of the dates of the diplomacy of Lath of Admiral of RVNL for the year beneath assay are mentioned below:

60th affair of Lath of Directors

16th April, 2013

61st affair of Lath of Directors

3rd July, 2013

62nd affair of Lath of Directors

18th September, 2013

63rd affair of Lath of Directors

26th November, 2013

64th affair of Lath of Directors

65th affair of Lath of Directors

12th December, 2013

10th March, 2014

 

 

 

 

 

 

 

 

e.       Appearance in Lath diplomacy and aftermost AGM

 

The adaptation of appearance of anniversary Director in the Lath diplomacy captivated during 2013–14 and in the aftermost AGM are mentioned below:

 

S.No

Name & Cachet of Directors

No. of Lath diplomacy held

Last AGM attended

Held (during their corresponding tenure)

Attended

1.

Mr. S.C. Agnihotri ,

Chairman and Managing Director

 

6

6

Yes

2.

Mr. Pradeep Kumar,

Advisor (Projects), Railway Board/

Director (official)

(upto 31.12.2013)

 

5

5

Yes

3.

Mr. Ved Prakash Dudeja,

ED (Works), Railway Board/

Director (official)

(from 28.06.2013 onwards)

5

1

Yes

4.

Mr. K.K. Aggarwal,

ED (W&P), Railway Board/

Director (official)

(from 22.01.2014 advanced )

1

1

No

5.

Ms. Gita Mishra,

Director (Personnel)

 

6

5

Yes

6.

Mr.Ashok K. Ganju,

Director (Finance)

 

6

6

Yes

5.

Mr. Mukul Jain,

Director (Operations)

 

6

6

Yes

6.

Mr. Vijay Anand,

Director (Projects)

 

6

6

Yes

7.

Dr. K.K. Chaudhuri,

Part–time (non–official) Director

(upto 14.12.2013)

 

5

5

Yes

8.

Prof. (Dr.) S. S. Chatterji,

Part–time (non–official) Director

(upto 12.05.2014)

 

6

6

Yes

9.

Mr .R. S. Sharma

Part–time (non–official) Director

 

6

5

Yes

 

 

f.        Disclosures by Admiral

 

As per the disclosures fabricated by Admiral beneath breadth 299 of Companies Act, 1956, no accord exists amid the admiral inter–se. The Government Appointee Admiral are admiral of Ministry of Railways and appropriately accompanying to the promoter.

 

Since, the absolute paid–up allotment basal of RVNL is actuality captivated by Central Government (Ministry of Railways), breadth 255 to 257 of the Companies Act, 1956, which crave not beneath than 2/3rd of the Admiral as bodies whose arrangement is accountable to assurance by retirement of admiral by circling at a accustomed meeting, are exempted to the Aggregation vide Notification no. GSR. 906, anachronous 30–.07–1981 of Administering of Aggregation Affairs.

 

The Aggregation has not issued any announcement or Letter of Offer.

 

g.       Brief resume of Admiral appointed during/after the cease of the banking year

 

–        Mr. V. P. Dudeja, ED (Works), Railway Lath as (part–time) (official) Director w.e.f. 28.06.2013

 

Mr. V. P. Dudeja, an IRSE arrangement and Column Alum in Structures (Civil Engg.) with 26 years’ adapted able acquaintance in Indian Railways and Accumulated environment.  He has accomplished a ample cardinal of Railway Architecture projects of New Lines, Barometer Conversion, Acceleration and Delhi Metro.  He is anon ecology all Railway architecture projects of Indian Railways.

 

–        Mr. K.K. Aggarwal, ED (W&P), Railway Lath as (part–time) (official) Director  w.e.f. 22.01.2014

 

Mr. K. K. Aggarwal, IRSE administrator of 1986 batch, is anon alive in Ministry of Railways as Executive Director, Works Planning in Ministry of Railways wherein he is administering the issues accompanying to Suburban Transport, Cartage Accessories and Busline Abuse Projects. He is  B.Tech (Civil) from I.I.T/Roorkee and M.Tech from I.I.T/Delhi. During his 25 years of career in Railways, he has served in assorted capacities including Sr DEN/ Moradabad, Dy Chief Engineer/ Construction/ Chandigarh and Director/Public Breadth Units in Ministry of Railways. He has additionally served as Chief Action Manager/ Delhi in Abuse Vikas Nigam Bound from 2007 to 2012. In this capacity, he has completed the arrangement of allotment of 3rd Band in Aligarh– Ghaziabad and Palwal– Bhuteshwar breadth of Indian Railways.

He has alternate in assorted trainings in India and away and has represented Indian Railways as a allotment of some delegations abroad.

 

4)              Committees of Board:

 

The Aggregation has formed the afterward committees of Lath of Admiral of RVNL: 

 

·         Assay Committee;

·         Accomplishment Committee;

·         Beforehand Committee;

·         CSR and Sustainability Development Committee;

·         Analysis & Development Committee;

 

Audit Committee

 

o   Ambit of the Board :

The Board acts in accordance with the Acceding of Advertence as per Breadth 292A of Companies Act, 1956 and Guidelines of Accumulated Governance laid bottomward by Administering of Accessible Enterprises in May, 2010. The ambit of the Board is:

•      Oversight of the company’s banking advertisement action and the acknowledgment of its banking admonition to ensure that the banking anniversary is correct, acceptable and credible.

•      Recommending to the Lath the fixation of assay fees.

•      Approval of acquittal to accustomed auditors for any added casework rendered by the accustomed auditors.

•      Reviewing, with the management, the anniversary banking statements afore acquiescence to the Lath for approval, with accurate advertence to:

–          Diplomacy adapted to be included in the Directors? Albatross Statement” to be included in the Board’s address in acceding of article (2AA) of breadth 217 of the Companies Act, 1956;

–           Changes, if any, in accounting behavior and practices and affidavit for the same;

–           Major accounting entries involving estimates based on the exercise of acumen by management;

–          Cogent adjustments fabricated in the banking statements arising out of assay findings;

–           Compliance with acknowledged requirements apropos to banking statements;

–           Disclosure of any accompanying affair transactions; and

–           Qualifications in the abstract assay report.

•      Reviewing, with the management, the anniversary banking statements afore acquiescence to the Lath for approval.

•      Reviewing, with the management, accomplishment of centralized auditors and capability of the centralized ascendancy systems.

•      Reviewing the capability of centralized assay function, if any, including the anatomy of the centralized assay department, staffing and advantage of the official branch the department, advertisement structure, advantage and abundance of centralized audit.

•      Altercation with centralized auditors and/or auditors any cogent allegation and chase up there on.

•      Reviewing the allegation of any centralized investigations by the centralized auditors/auditors/agencies into diplomacy breadth there is doubtable artifice or abnormality or a abortion of centralized ascendancy systems of a absolute attributes and advertisement the aggregate to the Board.

•      Altercation with accustomed auditors afore the assay commences, about the attributes and ambit of assay as able-bodied as post–audit altercation to ascertain any breadth of concern.

•      To accessory into the affidavit for abundant defaults in the acquittal to the depositors, acceding holders, shareholders (in case of non–payment of declared dividends) and creditors.

•      To assay the action of the Whistle Blower Mechanism.

•      To assay the chase up action on the assay observations of the C&AG audit.

•      To assay the chase up action taken on the recommendations of Board on Accessible Adventure (COPU) of the Parliament.

•      Accommodate an accessible admission of admonition amid the accustomed auditor, centralized accountant and the Lath of Directors.

•      Assay all accompanying affair diplomacy in the company. For this purpose, the Assay Board may baptize a affiliate who shall be amenable for reviewing accompanying affair transactions.

•      Assay with the accustomed accountant the co–ordination of assay efforts to assure abyss of coverage, abridgement of bombastic efforts, and the able use of all assay resources.

•      Accede and assay the afterward with the Accustomed accountant and the management:

•      The capability of centralized controls including computerized admonition arrangement controls and security, and

•      Accompanying allegation and recommendations of the Accustomed Accountant and Centralized Auditor, calm with the administering response.

•      Accede and assay the afterward with the management, centralized auditors and the Accustomed auditor:

•      Cogent allegation during the year, including the cachet of antecedent assay recommendations

•      Any difficulties encountered during assay arrangement including any restrictions on the activities or admission to adapted information.

•      Accustomed out functions pursuant to accoutrement of breadth 292A of the Companies Act.

 

o   Acceding of the Committee

The Aggregation has in abode an Assay Board of the Lath of Admiral pursuant to Breadth 292A of the Companies Act, 1956 and the Guidelines on Accumulated Governance issued by the Administering of Accessible Enterprises in May, 2010. The Board is reconstituted as and back there has been change in the Absolute or allotment time Admiral of the Company.

As on 31st March 2014, the Board had the afterward composition: 

 

 

Name of the Director

              Status

Dr. S.S. Chatterji,  Part–time non–official (Independent) Director

            Chairman

Mr. R.S. Sharma, Part–time non–official (Independent) Director

            Member

Mr. Mukul Jain, Director (Operations)/RVNL

            Member

Mr. V.P. Dudeja, ED (Works), Railway Board

            Member

 

Director (Finance) is a abiding honoree for the diplomacy of the Assay Committee.

 

The diplomacy are additionally abounding by chief admiral of F&A Department, head/representative of the Centralized Accountant and Accustomed Auditors as Adapted Invitees.

 

o   Diplomacy and Attendance  of the Committee:

 

In accordance with the guidelines appear by Administering of Accessible Enterprises on Accumulated Governance, the diplomacy of Assay Board were captivated in an breach of beneath than four months. The Board met four times during the banking year 2013–14, i.e. on 22nd May 2013, 3rd July 2013, 22nd October, 2013 and on 17th February, 2014. The adaptation of the appearance of anniversary affiliate are mentioned below:

Name of the Affiliate with Status

Meetings captivated during their

 respective tenure

Attendance

Dr. K. K. Chaudhuri, Chairman (since retired)

Dr. S. S. Chatterji, Member

Mr. R. S. Sharma, Affiliate

Mr. Mukul Jain, Member

Mr. V.P. Dudeja, Member

3

 

4

4

1

1

3

 

4

4

1

1

 

Company Secretary is the Secretary to the Committee.   

Remuneration Committee

Scope of the Committee:

The Board has been constituted pursuant to article 5.1 of the guidelines on Accumulated Governance issued by Administering of Accessible Enterprises, to adjudge the anniversary bonus/PRP pay basin and action for its administering as per the recommendations of 2nd IDA Pay Revision Committee.

Composition of the Committee:  

In accordance with the DPE’s guidelines on Accumulated Governance appear in May 2010, the Board was constituted with an Absolute Director as Chairman.

Composition of the Board for 2013–14 was as follows:

 Name of the Director

Status

 

Dr. K.K. Chaudhuri, Part–time non–official (Independent) Director

Chairman

Dr. S.S. Chatterji, Part–time non–official (Independent) Director

Member

Mr. R.S. Sharma, Part–time non–official (Independent) Director

Member

Mr. Ashok K. Ganju , Director (Finance), RVNL (without adapted to vote)

Member

 

 

Mr. S. C. Agnihotri, Chairman and Managing Director and Ms Gita Mishra, Director Core are abiding invitees for the diplomacy of the Committee.

Mr. Ajay Kumar, GGM (HR) is the Secretary to the Committee.

Meetings and Appearance during the year:

Two diplomacy of the Board was captivated during the banking year 2013–14 and it was abounding the all members.

 

Details of accomplishment paid to Admiral of RVNL during 2013–14

 

·         Part–time official (Government nominee) Directors

 

The part–time official (Government nominee) Admiral on the Lath of the Aggregation do not draw any remuneration. They alone draw accustomed accomplishment from the Government of India (Ministry of Railways) as Government officials.

 

·         Sitting fee to Part–time non– official absolute Directors

 

The part–time non–official (Independent) Admiral on the Lath of the Aggregation are paid a sitting fee of 12000/– for accessory Board/Committee meeting.

(Figures in )

S. No

Name of the Director

Sitting Fees

Total

Board Meeting

Committee Meetings

 

1.

Dr. K. K. Chaudhuri

60000

96000

156000

2.

Dr. S. S. Chatterji

72000

96000

168000

3.

Mr. R.S. Sharma

60000

120000

180000

 

Total

192000

312000

504000

 

 

 

 

 

 

 

 

 

 

Remuneration of whole–time Admiral for banking year 2013–14

S.No

Name of Directors

Salary

Lease/

Licence Fees)

Perquisites

Performance Accompanying Pay/Ex–Gratia Acquittal *

Retirement Benefit(EPF or FSC)

Bonus/

Ex–gratia

Stock options

Total

1.

Sh. S.C.Agnihotri

Chairman and Managing Director

 

2499280

750000

 

142227

4205820

240699

 

––

 

––

7838026

2.

Sh. Ashok K.Ganju

Director(Finance)

 

2110494

600000

 

96003

2357987

209604

 

––

 

––

5374088

3.

Smt. Gita Mishra

Director (Personnel)

 

2395305

100000

 

138279

2951190

564684

 

––

 

––

6149458

4.

Sh. Mukul Jain

Director (Operations)

 

2275436

600000

 

130348

2809050

214327

 

––

 

––

6029161

5.

Sh. Vijay Anand

Director (Projects)

 

2104950

––

 

105290

2710500

209052

 

––

 

––

5129792

 

Total

11385465

2050000

612147

15034547

1438366

––

––

30520525

 

Notes:

1.        Gratuity and added pensionary allowances of alive Admiral access not been included.

2.        Acquittal on anniversary of PRP to Sh. S.C.Agnihotri, Sh. Mukul Jain and Smt. Gita Mishra pertains to Banking Year 2010–11.

3.        Acquittal on anniversary of PRP amounting to Rs. 15,23,370/– to Sh. Harish Chandra pertains to Banking Year 2010–11.

 

 

 

Investment Committee

 

Scope of the Board

 

In accordance with DPE guidelines, the Beforehand Board of RVNL has been constituted to booty beforehand decisions for short–term deployment of surplus funds as per banking delegation(s) of ability for this purpose. The adaptation taken by the Board is put up to the Lath of Admiral of RVNL consistently for information.   

 

Composition of Board

 

The Board consists of Managing Director, Director Finance and Director (Operations). Ms. Meenu Dang, GM (F) is Affiliate Secretary to the Committee. 

 

Meetings and appearance of the Board

 

The diplomacy of the board are captivated about on anniversary abject or as and back required, and are abounding by all the members.

 

Committee on Analysis & Development

Scope of the Committee

The Board has been constituted by the Lath of Admiral of RVNL in accordance with the guidelines of Administering of Accessible Enterprises (DPE) on 24.10.2011. The Board has been constituted to adviser the beforehand of accomplishing of Analysis & Development, and arrangement beforehand initiatives in RVNL.

Composition of Committee: The Board has been formed with  the afterward composition:

            Name of the Director

Status

 

Mr. R. S. Sharma, Part–time non–official (Independent) Director

Chairman

Mr. Vijay Anand, Director Project

Mrs Gita Mishra, Director Personnel

Mr. Ashok K Ganju, Director Finance

Mr. Mukul Jain, Director (Operations)                                                       

Member

Member

Member

Member

 

Mr. S.K. Dhiman, ED/Projects is Secretary to the Committee.

 

Meetings and appearance of the Board

 

During the banking year 2013–14, the Board had four diplomacy on 26.6.2013, 18.9.2013, 26.11.2013 and 25.3.2014.  The adaptation of appearance are mentioned below:

 

Name of the Affiliate with Status

Meetings captivated during their

 respective tenure

Attendance

Mr R. S. Sharma, Chairman

Mr. Vijay Anand, Director Project

Mrs Gita Mishra, Director Personnel

Mr. Ashok K Ganju, Director Finance

Mr. Mukul Jain, Director (Operations

 

4

4

4

4

4

 

3

4

4

3

4

 

Committee on CSR and Sustainability

 

As on date of report, the RVNL’s Lath akin Board on CSR and Sustainability has the afterward composition:

 

 

 

 

Name of the Director

Status

 

Dr. S. S. Chatterji, Absolute Director

Mrs Gita Mishra , Director (Personnel)

Chairman

Member & Convener 

Mr. Vijay Anand , Director Projects

Mr. Ashok K Ganju Director Finance

Member

Member

 

Shareholders’ Grievance Committee

The Aggregation has not constituted a Shareholders Grievance Board as the entire–paid up allotment basal is captivated by Ministry of Railways and its nominees.

General Body Meetings

The adaptation apropos to date, time, breadth and the Adapted Resolutions anesthetized at the aftermost three Anniversary Accustomed Diplomacy of the Aggregation are placed below:

 

 

Year

AGM

Date

Time

Venue

Special Resolution passed

2012–13

 

2011–12

 

 

2010–11

10th

 

9th

 

 

8th

18.09.2013

 

21.09.2012

 

 

16.09.2011

1200 hrs

 

1600 hrs

 

 

1200 hrs

Committee Room,

Rail Bhawan

 

Committee Room,

Rail Bhawan

 

 

Committee Room,

Rail Bhawan

No

 

 

No

 

Yes. A adapted resolution was anesthetized for about-face of Articles of Association of RVNL beneath breadth 31 of Companies Act to reflect the admission in sitting fee to part–time (non–official) Absolute Admiral of RVNL.

Annual Accustomed Affair of accustomed year

           

            Date                 :           10th September, 2014

            Time                 :           1600 hrs

            Venue               :           Board Room, Abuse Bhawan, New Delhi–110001.

Subsidiary Aggregation

 

High Acceleration Abuse Corporation of India Bound is a 100% wholly endemic accessory aggregation of RVNL. Chapter 6 of the guidelines issued by Administering of Accessible Enterprises in May 2010 on Accumulated Governance awning alone those subsidiaries, whose about-face or net anniversary is not beneath than 20% of the turnover/net anniversary of the Captivation Company. Since, the about-face / net anniversary of HSRCIL did not beat 20% of the about-face or net anniversary of RVNL (Holding company) during 2013–14, HSRCIL is not a ‘subsidiary’ beneath the above–mentioned DPE‘s guidelines. Therefore, accoutrement apropos to accessory companies are not applicative to RVNL. However, the anniversary of the Lath diplomacy of HSRCIL, accessory of RVNL are consistently placed afore the Lath of Admiral of RVNL.

 

Disclosures 

–          The Aggregation has not entered into any cogent accompanying affair diplomacy with the Admiral or their ancestors (Disclosure fabricated by Admiral alone pursuant to breadth 299 of Companies Act) accepting abeyant assimilation with the Aggregation at large. 

 

–          The Aggregation has not been imposed a amends by any accustomed ascendancy attributable to non–compliance beneath any law, during the aftermost three years.

 

–          The Aggregation has complied with the guidelines on Accumulated Governance issued by Administering of Accessible Enterprises (DPE) appear in May 2010. RVNL has been including a Address on Accumulated Governance and Administering Altercation and Assay Address in its Admiral Address back 2007–08. The acquiescence to these Guidelines was additionally reflected in the Chairman’s accent delivered at the aftermost Anniversary Accustomed Affair of the Aggregation captivated on 18.9.2013.

 

–          The Aggregation has not accustomed any Presidential allegation during the banking year 2013–14.

 

–          All items of aggregate debited in the Books of Accounts of RVNL are for the purpose of action beheading entrusted to RVNL and are accompanying to action expenditure.

 

–          There are no claimed costs incurred for the Lath of Admiral except which are as per acceding of arrangement as acknowledged obligations.

 

–          Adaptation of Authoritative and arrangement costs as a allotment of absolute costs vis–à–vis banking costs – During the year, Ministry of Railways has rationalised the acquirement beck of RVNL. The attempt of allocation of authoritative costs in RVNL are accustomed by the Assay Committee.  The allotment of authoritative costs to absolute costs was 3.48 in 2013–14.

 

–          Your Aggregation has filed the address on Accumulated Governance with the Ministry of Railways and Administering of Accessible Enterprises in the assured time.

 

–          The Aggregation has set up a Accident Administering Board beneath the chairmanship of a Anatomic Director. The Board meets on a anniversary abject and the recommendations of the Board are put up to Lath of Admiral at accustomed intervals.   

 

CEO/CFO Certification

 

The affidavit appropriately alive by Mr. S.C. Agnihotri, Chairman and Managing Director {CEO} and Mr. Ashok K. Ganju, Director (Finance) {CFO}, as presented to Lath of Directors, is annexed as Annexure B–1 to the report.

 

Code of Business Conduct and Ethics

The Cipher of Business Conduct and Acceptance as able in accordance with the guidelines on Accumulated Governance appear by Administering of Accessible Enterprises is acquaint on the website of the Company, www.rvnl.org.

The Acquiescence of the Cipher of Conduct has been affirmed on the abject of acceptance accustomed from all the Lath associates and chief administering core for the banking year 2013–14. A acknowledgment to this effect, appropriately alive by the Chairman and Managing Director is placed at Annexure ”B–2” and forms allotment of this report.

 

Rating on Accumulated Governance by Administering of Accessible Enterprises

 

Department of Accessible Enterprises has rated RVNL as “Excellent” beneath the class of Accumulated Governance during 2012–13. On the abject of cocky appraisal of accomplishment of breadth specific targets in the MoU, it is accustomed that RVNL will accomplish an “Excellent” appraisement for 2013–14 also.      

 

Means of Communication

 

The audited anniversary banking after-effects and Anniversary Address are displayed on RVNL’s website, www.rvnl.org. Tenders of assorted departments, adaptation of tenders/contracts awarded, concrete and banking Plan of RVNL forth with added official anniversary releases are additionally uploaded on the website of RVNL.

The behavior and diplomacy afflicted beneath Accumulated Governance, viz., Cipher of Business Conduct and Whistle Blower Action are placed on the Company’s website.  The admonition uploaded on the website of RVNL is adapted from time to time according to the admonition provided. A Hindi Version of the website is additionally available. 

Shareholders’ Information

 

1.              The Company’s Banking Year is from 1st April to 31st March.

 

2.              Acquittal of Dividend: Allotment back declared is paid aural 5 canicule of declaration.

 

3.              Administering of shareholding

 

 

Category

              No. of shares held

       % of shareholding

Central Government (Ministry of Railways) in the name of President of India and its nominees

 

                 2085020100

 

 

 

 

            100

 

 

 

Total

                  2085020100

               100

 

Transfer of shares is commonly abstruse in attributes from one Government appointee actor to accession aloft change in incumbency, as the absolute paid–up allotment basal of the Aggregation is captivated by Government of India (Ministry of Railways). To affect the transfer, Aggregation Secretary has been accustomed and no about-face is pending.

 

4.     Bulb locations/Operating units

 

RVNL does not access bulb locations or operating units but has its Action Implementing Units in added than fifteen states beyond the Country. A anniversary of the units has been mentioned in the Report.

 

5.     Admonition to Shareholders

 

Apart from the Anniversary Belletrist which are beatific to shareholders afore the Anniversary Accustomed Meeting, the journal information(s) on the concrete and banking beforehand of the Aggregation are consistently submitted to Ministry of Railways, the sole actor of RVNL.

 

6.     Assay Qualifications

 

The Aggregation has been putting all efforts appear ensuring a administering of amateur banking statements and there access been no cogent qualifications. 

7.              Training  of Lath Members

 

In this regard, pursuant to article 3.7 of the guidelines appear by Administering of Accessible Enterprises on Accumulated Governance, the Aggregation has afflicted a Training Action for Lath of Admiral of RVNL, appropriately accustomed by the Lath of Directors. The Action is additionally acquaint on the Company’s website, www.rvnl.org.

RVNL additionally takes initiatives to alternation its Lath associates about RVNL’s profile, business parameters, etc. All the accordant issues and cogent developments accompanying to the alive of RVNL are imparted to part–time Admiral {(official) and (non–official), as the case may be} by the administering of RVNL from time to time. The abstracts accompanying to the Aggregation including Anniversary Reports, Memorandum and Articles of Association, MoU amid RVNL and Ministry of Railways etc are provided to them as per the requirement.

Director(s) are nominated on training programmes organized by DPE & SCOPE from time to time.

8.              Whistle Blower Policy

 

RVNL, actuality a Government Aggregation beneath Ministry of Railways, is covered by the Chief Acuity Bureau (CVC) and  as per CVC guidelines, a apparatus is accustomed or all its advisers and audience to address on any bent behaviour, absolute or doubtable artifice to the CVO or the Chairman and Managing Director directly.  However, to animate best Accumulated Governance practices aural the Company, a Whistle–blower Action of RVNL has been able and afterwards approval of the Lath of Directors, is placed on the Company’s website, www.rvnl.org.

 

No agent has been denied admission to the Assay Board of the Lath of Directors.  

 

Compliance Certificate

 

A Affidavit acquired from a Practicing Aggregation Secretary apropos acquiescence of the altitude of Accumulated Governance in accordance with the guidelines issued by Administering of Accessible Enterprises has been included as Annexure– B–3 to the Report.

 

Annexure ”B–1”

 

Declaration by Chairman and Managing Director apropos acquiescence with the Cipher of Conduct by Lath Associates and Chief Administering for the Banking Year 2013–14

 

 

 

I, S.C. Agnihotri, Chairman and Managing Director, Abuse Vikas Nigam Limited, do hereby acknowledge that all the associates of the Lath of Admiral and the Chief Administering aggregation of the Aggregation access affirmed their acquiescence with the Cipher of Conduct and key ethics of the Aggregation during 2013–14.

 

 

                                                                                                                           (S.C. Agnihotri)

Chairman and Managing Director

 

 

Place: New Delhi

Date: 18.06.2014

 

 

 

 

 

 

 

 

 

 

 

Annexure–B–2

Chairman and Managing Director and Finance Arch Certification

We access advised banking statements and the banknote breeze anniversary for the banking year 2013–14 and to the best of our ability and belief:

i)         These statements do not accommodate any materially apocryphal anniversary or omit any absolute actuality or accommodate statements that ability be misleading;

ii)       These statements calm present a accurate and fair appearance of the Company’s diplomacy and are in acquiescence with absolute accounting standards, applicative laws and regulations.

iii)      There are, to the best of our ability and belief, no diplomacy entered into by the Aggregation during the year which are actionable or adverse of the Company’s cipher of conduct.

iv)     We access albatross for establishing and advancement centralized controls for banking advertisement and that we access evaluated the capability of the centralized ascendancy systems of the Aggregation pertaining to banking reporting. We access disclosed, to the auditors and the Assay Committee, deficiencies in the architecture or operation of such centralized controls of which we are acquainted and the accomplish we access taken or adduce to booty or adjust these deficiencies.

v)                   We access discussed with the auditors and the Assay Committee

(b)     Cogent changes in centralized ascendancy over banking advertisement during the year.

(c)     Cogent changes in accounting behavior during the year, and that the aforementioned access been appear in the addendum to the banking statements; and

vi)     There was no instance of cogent artifice of which we are not acquainted nor there has been captivation of administering or an agent accepting cogent role in the Company’s beneath centralized ascendancy arrangement over banking reporting.

 

                      S.C. Agnihotri                                                                           Ashok K. Ganju           

Chairman and Managing Director                                                               Director Finance               

 

Place: New Delhi

Date: 07.07.2014

 

 

Annexure – “C”

 

Corporate Amusing Albatross (CSR) Report

 

 

CSR and Sustainability Policy

In accordance with the revised guidelines and directives issued by Administering of Accessible Enterprises (DPE) in January 2013, RVNL has formulated its CSR and Sustainability Action appropriately accustomed by the Lath of Admiral (BoD) of RVNL in January 2013.

 

Aims & objectives

CSR and Sustainability activities are actuality implemented to accommodated the afterward ample objectives accent in the Policy:

 

1)       Accomplishing in action mode

2)       Focus on ambit of action areas of RVNL

3)       Apprenticeship & bloom actuality beforehand areas

4)       Inclusive beforehand of association with accent on development of weaker sections of society

5)       In the astern districts of the country

6)       Realization of UN Millennium Development Goals

 

Strategic partners

RVNL has already entered into a affiliated appellation MoU on 17.11.2011 with Tata Institute of Amusing Sciences (TISS), nominated as a Civic CSR Hub by DPE, to accommodate all-important abutment in accomplishing of CSR activities in RVNL. RVNL is utilizing the casework of specialized alien agencies, NCSR Hub (TISS) and MoEF empanelled NGOs, Ramakrishna Mission etc for baseline surveys, needs appraisal studies, alertness of action reports, implementation, monitoring, evaluation, assay and amusing appulse appraisal studies afar from captivation of the acreage akin Committees for abutting monitoring, appraisal and feedback.

 

Reporting & disclosures

A absolute address on CSR & Sustainability activities of RVNL has been fabricated in the Anniversary Address of RVNL for the year 2013–14. Also, with aftereffect from 15.04.2013, a abstracted arch of “CSR & Sustainability” has been created on RVNL’s website and all admonition accompanying to CSR & Sustainability is actuality uploaded on the website on accustomed basis.

 

Organizational structure

As per the accustomed CSR and Sustainability Policy, RVNL has put in abode a three bank authoritative anatomy to beacon the CSR and Sustainability calendar of RVNL:

 

1)         Tier–I, Lath Akin Committee, is headed by Absolute Director.

2)         Tier–II, Accumulated Akin Committee, is headed by Executive Director (Mech), the Nodal Administrator for CSR and Sustainability.

3)       Tier–III, PIU Akin Committees, at the acreage level, is headed by corresponding Chief Action Manager of Action Accomplishing Units.

 

Board Akin Committee

The Lath Akin Board comprises of the afterward associates (Reference Anniversary No 89/13 of 64th Affair of BoD of RVNL):

 

(a)     Prof. (Dr.) S. S. Chatterji, Absolute Director, Chairman

(b)     Mr. Ashok K. Ganju, Director Finance, Member

(c)     Mr. Vijay Anand, Director Projects, Member

(d)     Mrs. Gita Mishra, DirectorPersonnel, Member

(e)     Mr. V. P. Dudeja, Allotment Time Official Director, Member 

 

Committee meetings

During the year 2013–14, the Lath Akin Board captivated four diplomacy on 16.04.2013, 03.07.2013, 26.11.2013 and 30.01.2014. The anniversary of these diplomacy access been uploaded on RVNL’s website.

 

Budget & expenditure

During the year 2013–14, ` 5.27 Crore has been spent on CSR & Sustainability activities, which is about 3.9% of PAT of ` 135.55 Crore for the year 2012–13 admitting the MoU ambition for 2013–14 is 2% of PAT, i.e., ` 2.71 Crore. As accustomed by BoD of RVNL, funds @3% of PAT of antecedent year, has been provided in the non–lapsable ‘CSR & Sustainability Fund’ during the accustomed year, which is the best allocation vis–à–vis DPE’s guidelines of 2% to 3% for PAT aloft `100 Crore. Out of a absolute CSR & Sustainability aggregate of ` 5.27 Crore for the year 2013–14, 78% aggregate is on projects and antithesis 22% aggregate is due to able accuse fabricated to NCSR Hub (TISS) and a accession of ` 1 Crore fabricated to the Chief Minister’s Relief Fund, Uttarakhand in appearance of aberrant calibration of confusion which had occurred in Uttarakhand.

 

CSR & Sustainability projects

Status on the assorted CSR & Sustainability projects actuality implemented during the year 2013–14 is briefly discussed hereunder.

 

 

 

The CSR action is in the about of Dallirajhara Raoghat new band architecture action of RVNL actuality accomplished by CPM/ Bilaspur. The CSR action was accustomed by the RVNL CSR Board on 06.03.2012 and the action commenced on 01.04.2012. The action address was able by SEED and approval of NCSR Hub (TISS) was accustomed on 29.02.2012. Implementing and ecology agencies were appointed on 25.03.2012 (date of signing of MoU).

 

 

The CSR action will accommodate abundant bare residential auberge accessories to about 300 affiliated boys from Abujhmarh area. Abujhmarh bureau the alien altitude and is inhabited by one of the archaic tribes alleged Madhia who access been actual afresh categorized as a “particularly accessible affiliated group”. This aloof breadth of about 4,000 sq km, a circuitous bond of hills and blubbery forests in Narainpur Commune of Chhattisgarh, is additionally dubbed as a absolved breadth breadth alone the Maoist command runs and charcoal about out of bound for the Indian state.

 

Thus, as envisaged in the Allegation Appraisal Assay Address by TISS, the auberge accessories will accommodate admission to affection and aggregate apprenticeship to these affiliated boys and thus, accommodate a complete belvedere for mainstreaming of these accouchement and facilitate in affair the Millennium Development Goals for accomplishing accustomed primary education. 

 

Extract of Needs Appraisal Assay Address by NCSR Hub (TISS)

“The NCSR Hub aggregation begin that it is acutely important to abutment the action of the Ramakrishna Ashrama, Narainpur breadth the action has multiplier effect. Role of RVNL can be important actuality for a best abutment to the Ashrama. RVNL can additionally if finds accessible can comedy the ballast aural PSEs to actualize acquaintance about the Narainpur and Ashrama which the aggregation is doing. RVNL has a different befalling to abutment the Ashrama in Narainpur. It should appropriately booty an alive assimilation in the socio bread-and-butter development of Narainpur through the activities of Ramakrishna Ashrama as able-bodied as through their own CSR team. This can act as a allegorical archetype of affection CSR action by the PSEs in the neediest areas of the country”.

 

 

 

The CSR action is in the about of Joka–BBD Bagh new busline band architecture action of RVNL actuality accomplished by CPM(M)/ Kolkata. The action was accustomed by the RVNL CSR Board on 06.03.2012 and the action commenced on 01.04.2012. The action address was able by IHBP and approval of NCSR Hub (TISS) was accustomed on 29.02.2012. The implementing agency, IHBP, was appointed on 28.03.2012 (date of signing of MoU).

 

One hundred beneath advantaged abnormally abled accouchement accepting three types of disabilities, namely, 55 audition broken accouchement (21 boys & 34 girls), 28 mentally challenged accouchement (17 boys & 11 girls) and 17 accouchement with bookish attached (14 boys & 3 girls) access been covered in the project. Apprenticeship and development of these accouchement are actuality done beneath the abutting administering of able-bodied able and accomplished agents with apprentice to abecedary arrangement of 10:1 for audition impaired, 6:1 for mentally challenged, 3:1 for bookish attached and committed abutment staff. Accouchement access been provided with academy uniform, books, notebooks, educational kits, medical aid, alimental and affection meal. From the acknowledgment acquired from parents, it is apparent that parents are annoyed with the beforehand of the accouchement and these accouchement access badly benefited with all-embracing beforehand in education, acquaintance and comprehension.

Extract of mid–term amusing assay address of NCSR Hub (TISS) February 2014

 

“Under this CSR action of RVNL, IHBP is giving affection anniversary appear the abnormally abled accouchement and association in general. This blazon of CSR action is adapted in attributes as compared to added blazon of programs because RVNL is anon associated in allotment the complete education, training and bloom abutment to 100 abnormally abled accouchement in a adapted school. RVNL is a actual allied and acknowledging accomplice in this CSR action through abutting monitoring, journal visits, interactions and chase up. In appearance of the actual absolute acknowledgment and acknowledgment accustomed from the stakeholders, the assay aggregation is of the assessment that RVNL should abide this CSR action for the advancement of the underprivileged abnormally abled accouchement in the astern commune and should abide this action for its sustainability on the affiliated run”.

 

 

 

The CSR action is in the about of Joka–BBD Bagh new busline band architecture action of RVNL actuality accomplished by CPM(M)/Kolkata. The action was accustomed by the RVNL CSR Board on 22.08.2012 and the action commenced on 01.10.2012. The action address was able by SEED and approval of NCSR Hub (TISS) was accustomed on 19.06.2012. Implementing and ecology agencies were appointed on 27.08.2012 (date of signing of MoU).

 

Health abutment is provided by a aggregation of able doctors and medical agents and covers alternate bloom assay up at ten centers forth with chargeless medicine, dissection tests & homeopathy assay at Naora center, adaptable medical anniversary and bloom acquaintance camps. During the year 2013–14, 13443 patients were treated. Three hundred fifty beneath advantaged accouchement are accustomed chargeless apprenticeship classes, concrete training, sports, yoga training etc for 6 canicule in a anniversary for all-embracing development of the accouchement at 3 centers. These accouchement access been provided with uniform, academy bags, books, notebooks, alimental meal etc. From the acknowledgment acquired from parents, it is apparent that parents are acutely annoyed with the all-embracing development of the children. Needy bodies from the villages access badly benefited from the bloom abutment provided to them.

 

Extract of mid–term amusing assay address of NCSR Hub (TISS) February 2014

 

“At present RKM, Naora is imparting affection apprenticeship for all-embracing development and beforehand of 300 accouchement acceptance to underprivileged/ backward/ SC/ ST communities in the astern district, articular by Planning Bureau (GoI) beneath CSR action of RVNL. Due to cutting absolute acknowledgment from the community, the cardinal of accouchement has steadily added to 400. As adapted in the recommendations of the antecedent report, RKM has started new programmes, such as, computer articulacy and appear English classes. In the accustomed abstraction both these programmes access been begin alive and accouterment allowances to the beneficiaries. The agents demography the allegation classes chase the aforementioned advance arrangement as followed in the school. About all the acceptance access appear that the apprenticeship classes access been actual advantageous for the accouchement to accept the accountable and accomplish well. The alimental aliment which is provided to the accouchement is able by a accumulation of bounded women. With this it can be assured that the association is additionally circuitous in the process.

 

It cannot be denied that the casework Math provides will go a affiliated way in accidental to bigger bloom altitude in this area. For these affiliated beggared communities, the bloom camps are a boon, as the abutting clandestine hospitals are actual far away. It has fabricated these bodies appear out of their houses and admit the accent of a doctor’s diagnosis. Back the NCSR Hub Aggregation visited the clinics and interacted with the people, it was begin that the adaptable clinics are action able-bodied and are accouterment bloom casework to the people. Able Doctors and paramedical assistants/nurses are attractive afterwards all these bloom centers. There is a abundant alacrity and activity amidst the beggared and underprivileged bodies appear the CSR project. The assay aggregation acclaimed that RVNL has been a actual co–operating and acknowledging accomplice in this CSR action through abutting monitoring, journal visits, and interactions and chase up. In appearance of actual absolute acknowledgment and appulse the diplomacy has generated amid the stakeholders, the assay aggregation is of the assessment that RVNL should abide this CSR action for the advancement of the underprivileged accouchement and bodies in the astern commune and should abide this action for its sustainability on the affiliated run”.

 

 

 

 

The sustainability action is in the about of Joka–BBD Bagh new busline band architecture action of RVNL actuality accomplished by CPM (M)/Kolkata. The action was accustomed by the Lath Akin Board on 03.07.2013 and the action commenced on 01.04.2013. The action address was able by TERI. Implementing and ecology agencies were appointed on 30.07.2013 (date of signing of MoU). The alternative of households covered beneath the action has been fabricated by TERI and Ramakrishna Math, Naora based on two criteria, i.e., non electrified breadth and for those who are sending their accouchement to academy so as to ensure that the action has the adapted appulse on the lives of the poor people.

 

Extract of mid–term amusing assay address of NCSR Hub (TISS) February 2014

“Solar home lighting systems has been auspiciously installed by TERI in 500 households acceptance to the unprivileged and weaker sections of association in Bhangar Block & Canning–I Block in the Astern Commune of South 24 Parganas, West Bengal beneath CSR & Sustainability action of RVNL. It is auspicious to agenda that solar home lighting arrangement has replaced kerosene oil acclimated for lighting. The annal for the aliment and acceptance of the Solar Lights in the houses access been maintained able-bodied by the assembly of the RKM. The bounded youths access been able-bodied accomplished to accessory afterwards the aliment and accord with the basal problems with assimilation to the solar lights. Best of the households agreed that the solar ablaze access been actual advantageous for them and is a accessible intervention. This action has accustomed to be a abundant benefaction to academy action accouchement who acclimated to abstraction beneath kerosene lamps. In appearance of absolute appulse and appeal the stakeholders, the assay aggregation is of the assessment that RVNL should analyze added such households and abide the action in the year 2014–15”.

 

 

 

The CSR action is in the about of Rishikesh Karnaprayag new band architecture action of RVNL actuality accomplished by CPM/ Rishikesh. The CSR action was accustomed by the Lath Akin Board on 26.11.2013 based on action address able by NCSR Hub (TISS) and the action commenced on 25.12.2013. Implementing bureau was appointed on 20.12.2013 (date of signing of MoU).

Ramakrishna Mission Sevashrama Hospital, Kankhal is a 150 bedded multi–specialty accommodating hospital founded in 1901 to baby medical allegation of this region. Due to non–availability of hospital/ medical facilities, the beneath advantaged bodies from astern Districts of Pauri Garhwal, Tehri Garwal, Chamoli, Champawat and Pithoragarh are availing the advantage of medical accessories of this hospital in accession to the bodies of Haridwar District. The CSR action envisages accession of bloom abutment accessories at its hospital, Kankhal in adjustment to accommodated the accretion accommodating load. This action will absorb architecture of 4th and 5th floors in the absolute OPD Building. The proposed 4th attic will access absolutely able operation theatres circuitous and 5th attic will access absolutely furnished 50 bedded column accessible affliction ward. This accession will admission the adaptation of hospital from 150 to 200 beds and additionally facilitate in administering added surgeries. As per the proposed plan, the column accessible affliction assemblage will boldness the affair of appointment surgical cases to adjoining building.

 

Extract of action address by NCSR Hub (TISS)

“Supporting the proposed CSR & Sustainability action will abundantly admission the ability of the hospital and this, in turn, will advice the beneath advantaged breadth of the association in the astern districts of Uttarakhand to anniversary affection bloom casework at affordable cost”.

 

 

HIGH SPEED RAIL CORPORATION OF INDIA LIMITED

(A Wholly endemic Accessory of Abuse Vikas Nigam Limited)

 

DIRECTORS’ REPORT

Distinguished Shareholders,

The Admiral of your Aggregation are advantaged in presenting the 2nd Anniversary Address of the Aggregation calm with the Audited Statements of Accounts and Auditors’ Address for the year assured 31st March, 2014 (from 1st April, 2013 to 31st March, 2014).

President of India (Ministry of Railways) issued admonition to Abuse Vikas Nigam Ltd. (RVNL) for accumulation an SPV for development of Aerial Acceleration Abuse Corridors in the country.  Subsequently, RVNL congenital Aerial Acceleration Abuse Corporation of India Bound (HSRC) on 25th July 2012 as its Wholly endemic Accessory and the Affidavit of Commencement of Business was accustomed on 18th August, 2012.  The Aggregation was formally launched by the again Hon’ble Minister of Railways, Sh. Malikarjun Kharge in a action captivated at Vigyan Bhawan on 29th October 2013. The Aggregation has its registered arrangement in New Delhi.

The basal altar of the Aggregation are to access into and backpack on all business accompanying to planning, designing, development, construction, manufacturing, assembling, fabricating, processing, installing, maintenance, operation and costs of railway basement and accompanying logistic abutment systems, including rolling stock, of all types in India and away of Aerial Acceleration Abuse Projects and any added rail–based traffic, as may be accustomed by the Government of India or Abuse Vikas Nigam Bound (RVNL) or any added Ascendancy accurately created for this purpose from time to time, and to undertake any or all activities affiliated thereto, on PPP, EPC or any added arrangement or archetypal basis. 

Business Performance

After ablution HSRC in October 2013, a pre–feasibility abstraction for a committed Aerial Acceleration Abuse Aisle amid Delhi–Chandigarh–Amritsar has been assigned to HSRC by Ministry of Railways. HSRC has additionally been entrusted by Ministry of Railways with the appointment to admission the best permissible acceleration on Indian Railways to 160 Km/h on three sections of IR i.e. Delhi–Agra, Delhi–Chandigarh and Delhi–Kanpur. Ability based abutment for the arrangement of acceleration adopting on absolute beforehand beforehand of basement is in beforehand with HSRC as the action integrator. However, as these are at a planning date the Aggregation has not recorded any operating about-face during the year, and the Aggregation is yet to arise its operational activities.

 

Financial Performance

The cogent indicators of banking accomplishment of the Aggregation for the banking year from 01.04.2013 to 31.3.2014 are mentioned below:

S.No

Particulars

Amount (in Rs.)

 

1

Authorized Allotment Capital

5,00,00,000/–

2.

Paid–up allotment Capital

5,00,000/–

3.

Capital arrangement in progress

1,83,447/–

4.

Total Income

8,877/–

5.

Operating Income

Nil

6.

Profit afore Tax

(28,50,029/–)

7.

Net Worth

(30,95,247/–)

8.

Earnings Per Share

(57.00)

 

The aggregate incurred by the Aggregation is on items accompanying to basic costs for ambience up the Aggregation and administering of study.

Capital Structure

The Paid–up Allotment Basal of the Aggregation is Rs. 5 lakh, adjoin the Accustomed Allotment Basal of Rs. 5 crore.

Dividend

Since the Aggregation has not yet started its bartering activities, the Aggregation has not declared any allotment for the year 2013–14

Fixed Deposits

The Aggregation has not accustomed any anchored deposits from accessible during the year beneath review.

Reserves

As the Aggregation is yet to arise its operational activities and has not becoming any assets or profit, the Aggregation has not transferred any aggregate to Accustomed Reserves.

Conservation of Energy, Technology Assimilation and Adopted Barter Earning and Outgo

 

The accoutrement of attention of energy, technology assimilation are not applicative to the Company.   During the year beneath review, there is no adopted barter antithesis or outgo.

Particulars of Advisers beneath Breadth 217 (2A)

The Aggregation has not active any actuality whose particulars are adapted to be submitted in the address pursuant to accoutrement of Breadth 217(2A) of the Companies Act, 1956 and rules afflicted there under.

Buy–Back of Shares beneath Breadth 217 (2B)

The Captivation Aggregation holds all the shares in the Aggregation and the Aggregation has not resorted to any buy–back of its shares during the year beneath review.  As such, there is no anniversary to address beneath Breadth 217 (2B) of the Companies Act, 1956.

Presidential Directive

No Presidential Allegation was accustomed during the year.

Integral Reports

 “Management Altercation and Assay Report” and “Corporate Governance Report” anatomy an basal allotment of this Director’s Report, which are placed at Annexure–I & II

Board of Directors

The Lath of Admiral consists of four (4) part– time Director nominated by the Captivation Company, Abuse Vikas Nigam Limited.  The Lath met four (4) times during the year for transacting business.

The afterward Admiral captivated arrangement during the year:

Sh. S. C .Agnihotri                                 Chairman

Sh. Mukul Jain                                      Director

Sh. Ashok K. Ganju                               Director

Sh. Vijay Anand                                     Director

Directors’ Albatross Statement

As adapted beneath Breadth 217 (2AA) of the Companies Act, 1956, Admiral of the Aggregation affirm that:–

(i)         in the alertness of the Anniversary Accounts, the applicative Accounting Standards access been followed and that there are no absolute abandonment from the same.

(ii)         the Admiral access alleged such accounting behavior and activated them consistently and fabricated judgments and estimates that are reasonable and advisable so as to accord a accurate and fair appearance of the accompaniment of diplomacy of the aggregation at the end of the banking year and of the Accumulation or Loss of the Aggregation for that period.

 (iii)       the Admiral access taken able and acceptable affliction for the aliment of able accounting annal in accordance with the accoutrement of the Act for attention the assets of the aggregation and for preventing and audition artifice and added irregularities.

(iv)        the Admiral access able the anniversary accounts on a action affair basis.

 

Auditors

The Comptroller & Accountant Accustomed of India appointed M/s ASAP & Associates, Chartered Accountants as Company’s Accustomed Auditors for the year 2013–14.  The Lath would like to abode on almanac their aboveboard acknowledgment for the admired casework rendered by Accustomed Auditors.

Comments Comptroller & Accountant Accustomed of India

The Comptroller & Accountant Accustomed of India has undertaken added assay on the accounts of the Aggregation for the year assured 31st March, 2014 beneath Breadth 619 of the Companies Act, 1956. The comments of the C & AG on the Anniversary Accounts of the Aggregation for the year assured 31st March, 2014 shall additionally anatomy allotment of this report.

 

Annexure – I

MANAGEMENT DISCUSSION AND ANALYSIS

An Overview

The aggregation was congenital on 25th July, 2012 as a Wholly endemic Accessory (WoS) of Abuse Vikas Nigam Limited, a agenda ‘A’ CPSE beneath Ministry of Railways.

Objectives

The basal altar of the aggregation are to access into and backpack on all business accompanying to Aerial Acceleration Abuse Projects and any added rail–based traffic, as may be accustomed by the Government of India or Abuse Vikas Nigam Bound (RVNL) or any added Ascendancy accurately created for this purpose from time to time.

Financial Performance

The aggregation has not recorded any operating about-face during the year, as the Aggregation is yet to alpha its bartering activities.  The Company, however, becoming an assimilation on deposits amounting to             Rs.8,877/–.

Strengths

The Aggregation has been accustomed as a wholly endemic accessory of RVNL which has a ample basin of abstruse manpower with a assortment of abilities and all-inclusive acquaintance of beheading of abuse accompanying basement projects in the country and developing avant-garde banking models for action financing. RVNL additionally has a all-inclusive acquaintance of the application action and access alien abounding new concepts such as multi–packaging etc.

Risks and Concerns

High Acceleration Abuse projects are awful basal intensive.  The accomplishing of these projects will depend on specific action directives of the Government of India. Avant-garde antecedent of allotment will access to be rapped for Aerial Acceleration projects including mutual and multilateral funding, Adopted Direct Investment, Accessible Clandestine Partnership, etc.

Internal Ascendancy Systems

The centralized ascendancy systems of the Aggregation will be accustomed with the demography up of operational activities.

Human Resources

The Aggregation has no core on its rolls.  At present, all activities of the Aggregation are actuality managed by core of RVNL as added responsibilities/duties.

 Annexure – II

REPORT ON CORPORATE GOVERNANCE

1.         Company’s Aesthetics on Accumulated Governance

Initiatives are actuality taken to apparatus Accumulated Governance attempt and measures as independent in the Guidelines on Accumulated Governance for Central Accessible Breadth Enterprises May 2010 issued by the Administering of Accessible Enterprises.

2.         Assimilation

The Aggregation was congenital on 25th July, 2012 as a Wholly endemic Accessory of RVNL Ltd. with an Accustomed Allotment Basal of Rs.5 crore and paid up allotment basal of Rs.5 lakhs.  The Captivation Company, RVNL, holds the absolute paid–up allotment basal of the Company.

3.         Lath of Directors

The Lath of the Aggregation comprises of four admiral namely Shri S. C. Agnihotri, CMD, RVNL, Shri Mukul Jain, Director (Operations), RVNL, Shri Ashok K. Ganju, Director (Finance), RVNL and Shri Vijay Anand, Director (Projects), RVNL.

The names and categories of Admiral on the Board, cardinal of Directorships and Board Chairmanship/ Membership captivated by them in added companies are as under: 

S. No.

Name and Designation

Category of Admiral Accomplished Time / Allotment Time

No. of added Directorship* (including HSRCIL)

No. of Board Membership**

As Chairman

As Member

1.

S. C .Agnihotri

Part Time Chairman

2

2.

Mukul Jain

Part Time Director

2

1

 

3.

Ashok K. Ganju

Part Time Director

2

4.

Vijay Anand

Part Time Director

2

*    Does not accommodate Directorship in Clandestine Companies, Breadth 25 Companies and    Adopted Companies.

** Does not accommodate Chairmanship / Membership in the Lath of Committees added than the Assay Board and Shareholders’/Grievance Committees.

 

 

 

 

3.1        Brief Resume of Directors

a.         Mr. S. C Agnihotri, Part–time Chairman (since assimilation i.e. 25.07.2012)

Mr. Satish Agnihotri has afflicted the allegation of Chairman & Managing Director of Abuse Vikas Nigam Bound (RVNL) on 05.03.2013. Above-mentioned to this, he was appointed as Managing Director, RVNL. Mr. Satish Agnihotri, M.E. (Structures) and B.E. (Civil) from IIT, Roorkee, abutting the Indian Railway Anniversary of Engineers in 1984. Afore abutting as Managing Director of RVNL on 27.01.2010 he was alive as Director (Projects) of the aggregation w.e.f 4th July 2007. Afore 4th July 2007, he headed the Busline Action Directorate of Ministry of Railways ambidextrous with accessible busline curve in burghal cities. While alive as OSD to Affiliate Engineering, he was circuitous in laying bottomward the policies, standards, planning, accomplishing and ecology of basement projects all over Indian Railways. As Executive Director (Corporate Coordination) & OSD/Chairman Railway Board, he was affianced in absolute adaptation authoritative in the Ministry of Railways. In his career, spanning over 24 years, he formed on important projects including architecture of a bifold band arch over river Ganga, acceleration of tracks, aloft backyard remodelings, etc. He formed on the Rajdhani Admission of Allahabad Division, the best celebrated clue on Indian Railways, as Aliment Engineer progressively as Assistant Engineer, Divisional & Chief Divisional Engineer. He was abundantly amenable for adopting the acceleration abeyant of Rajdhani admission from 130 to 160/180 KMPH by beforehand the clue geometry and deepening of track. He was additionally commissioned to Japan for ability training in Tunnel and Tunneling organized by Japan All-embracing Corporation Bureau (JICA). Through UNDP, he was commissioned to Germany, France and Austria for all-encompassing training on aliment of aerial acceleration clue and anniversary of clue machines. While alive as Executive Director/Track Machine, he visited Germany, France, Italy and Russia as the aggregation baton for development of aerial accomplishment clue machines. Forth with Chairman, Railway Board, he abounding the Conference of Chief Executives of apple railways in Japan, organized by UIC.

Mr. Agnihotri has additionally agog assimilation in sports and was adjudged as best in action and studies amidst all branches of Engineering at IIT, Roorkee and was awarded Sarojini Naidu Cup for Arrangement and Play.

b.         Mr. Mukul Jain, Part–time Director (since assimilation i.e. 25.07.2012)

Mr. Mukul Jain has taken over as Director (Operations) of Abuse Vikas Nigam Bound on 16th June, 2010. He is a B.Tech in Mechanical Engineering from I.I.T. Delhi, and a Master of Engineering in Acumen & Accumulation Chain Administering from Massachusetts Institute of Technology, Boston and Zaragoza Acumen Center, Spain. 

Mr Jain was the Executive Director in Container Corporation of India Ltd. (CONCOR), a PSU of Government of India above-mentioned to abutting RVNL. He had abutting Indian Railway Cartage Anniversary (IRTS) in 1981. Afterwards alive in assorted capacities in operating, bartering and accustomed administering in SE Railway and Western Railway, he abutting as Arch of CONCORÂ’s Western Arena in 1995. He again headed North Western Arena of CONCOR from 2003 to 2006. He has formed as Arch of Planning & Development, Air Burden and Shipping in its Accumulated Office, New Delhi. He specializes in carriage strategy, architecture of Intermodal Terminals and hinterland anchorage connectivity.

He has been accustomed with the enactment of awful acknowledged Container Bales Stations in Mulund (Mumbai), Dronagiri Node( JNPT), Vadodara and at several added locations in Western India.He consistently delivers lectures on railways, containerization, logistics, SCM and added administering subjects.

c.         Mr. Vijay Anand, Part–time Director (since assimilation i.e. 25.07.2012)

Mr. Vijay Anand an administrator of 1981 accumulation of Indian Railway Anniversary of Engineers, has taken over as Director (Projects) of Abuse Vikas Nigam Bound on 9th April, 2011.   He is a alum in Civilian Engineering from Punjab Engineering College, Punjab University, Chandigarh.   He has captivated assorted amenable positions in Indian Railways and Delhi Busline Abuse Corporation in aliment and architecture of Railway and Busline assets.  In his carrier, spanning over 29 years, he formed on important projects including architecture of new Railway curve from Ernakulam – Allepey, Karur – Dindigal, Rohtak – Jakhal doubling.   He while alive and Chief Engineer, Northern Railway, Kashmeri gate, was associated in assorted Accustomed Wealth Game works accompanying with Railways for architecture of ROBs & RUBs in Delhi area, which includes Barapulaha Nalaha and Salimgarh Fort Underpass.

 He while alive as Chief Action Manager in Delhi Busline Abuse Corporation and afterwards as Director (Projects) in Delhi Busline Abuse Corporation, has planned, designed, complete and Commissioned of assorted Corridors of Delhi Busline Projects on Phase–I and Phase–II including Connaught Abode – Dwarka, Shadhara – Dilshad Garden, Delhi University – Jahangirpuri, Inderlok – Mundka, Inderprastha – Noida, Yamuna Bank – Anand Vihar and Central Secretariat –Badarpur.

d.         Mr. Ashok K. Ganju, Part–time Director (since assimilation i.e. 25.07.2012)

Mr. Ashok K Ganju, has taken over as Director (Finance) of Abuse Vikas Nigam Bound on 12th September, 2011. Afterwards commutual B.A. (Hons.) History, M.A. Sociology from Delhi University, he abutting the Indian Railways Accounts Anniversary (1981 Exam).  He has formed in assorted capacities in the Railways in the Division, Workshop, Production Unit, EDP Centre, Cartage Accounts and Architecture Offices etc. Above-mentioned to abutting as Director (Finance), he formed as ED/Finance in RVNL from 31st August, 2007.  He has additionally been on allotment with Centre for Railway Admonition Systems (CRIS) and on Central Allotment to the Ministry of Amusing Amends and Empowerment, Ministry of Consumer Diplomacy and Aliment & Accessible Distribution.  He abounding the 30th APPPA Advance at the IIPA breadth he was awarded an M.Phil in Accessible Administration.

3.2        Cardinal of Lath Diplomacy with date and appearance at the Lath diplomacy and Anniversary Accustomed Meeting

            The Lath of Admiral met 4 times during the year to altercate the operational activities of the Company.

S. No.

Name and Designation

Board Diplomacy During the Year

4th Lath meeting– 14.06.2013

5th Lath Meeting– 20.09.2013

6th Lath Affair –12.12.2013

7th Lath Affair –10.03.2014

Attendance at AGM

Held on 19th August 2013 at 15:00 hrs

Held During tenure

Attended

1.

Sh. S. C .Agnihotri

 

4

4

Yes

2.

Sh. Mukul Jain

4

4

Yes

3.

Sh. Ashok K. Ganju

4

4

Yes

4.

Sh. Vijay Anand

4

4

Yes

 

4.         Accomplishment of Directors

            Allotment time Directors, nominated on the Lath by the captivation company, do not draw any accomplishment from the Company.

            No sitting fee is paid to the allotment – time Directors.

5.         Cipher of Conduct

            All Admiral of the aggregation are whole–time Admiral of the captivation company, RVNL.  They access been afterward the Cipher of Conduct laid bottomward by RVNL.

6.         Committees of the Lath of Directors

            Assay committee, Accomplishment board etc will be constituted as and back the allegation arises.

7.         Anniversary Accustomed Meeting

The Anniversary Accustomed affair of the Aggregation was captivated on Monday, 19th August 2013 at 15:00 hrs at its registered arrangement of the company, in accordance with the accoutrement of breadth 166 of the Companies Act .

8.         Bureau of Communication

All important admonition pertaining to the Aggregation has been mentioned in the Anniversary Address of the Aggregation absolute inter–alia Audited Accounts, Banking Statements, Directors’ Report, Address on Accumulated Governance which is actuality broadcast to the associates and others advantaged thereto. 

Disclosure apropos to amounts transferred to reserves

An aggregate of ` 10 crore has been transferred to Accustomed Reserves by allotment from profits of the Company. Afterwards demography into account, the proposed Allotment of ` 31.50 crore and Allotment Administering Tax of ` 5.56 crore, the antithesis beneath Reserves & Surplus at the end of 2013–14 stands at ` 452.94 crore in allegory to ` 332.59 crore in 2012–13.

Disclosures apropos to dividends

As a aftereffect of bigger banking accomplishment of the Company, the Lath of Admiral access recommended a final Allotment of ` 31.50 crore for the year 2013–14 as compared to ` 27 crore in 2012–13 for application of the shareholders. The accumulative Allotment paid to Ministry of Railways by RVNL will aggregate to ` 114 crore, including the Allotment declared for 2013–14.

Details apropos action conservation

RVNL is acquainted of the bound attributes of accustomed sources and the accent of application our action assets wisely. Initiatives taken to actualize acquaintance about attention of action amid advisers has resulted in abiding abridgement in action burning at Accumulated Office. In addition, assorted accompaniment of the art systems access been installed and ambiance affable technology has been adopted in the Accumulated Arrangement building.

Details apropos technology absorption

In addition, assorted accompaniment of the art systems access been installed and ambiance affable technology has been adopted in the Accumulated Arrangement building.

Details apropos administering altercation and assay explanatory

Industry Anatomy and Development:

 

Over the years Indian Railways access emerged as the world’s fourth bigger Abuse bales carrier and bigger commuter carrier.  It runs 12,617 trains accustomed over 23 actor cartage and 3 actor tonnes of bales per day. It is the courage of India’s carriage basement and the quality, adaptation and the accomplishment of Railways’ basement is of acute accent for the nation.   Experts access acclaimed that the accession of Indian Railways is about 1.2% of the GDP and that by 2020 it should ability about 3% to ensure acceptable bread-and-butter development of the country. 

 

However, Indian Railways is anon faced with a analytical basement arrears as the basal cartage accustomed routes are saturated.             At the aforementioned time the alley breadth has developed decidedly consistent in the abiding admission in the allotment of cartage actuality confused by anchorage at the aggregate of the Railways whose allotment has bargain to beneath than 30%. Alarmingly, this is additionally accurate for the acceptable aggregate burden of Railways such as coal, cement, animate etc.  On a added perspective, abridgement in cartage allotment is not in the civic assimilation as the Railways are the best action able and ambiance affable approach of carriage on land.

 

Due to austere bottlenecks on saturated lines, the Railways are additionally not in a position to accommodated the appeal for added commuter and bales raffic. At the aforementioned time there is a allegation to accommodate Abuse connectivity to arising ports, new mines, ability plants etc.  The bearings has been added circuitous due to bound bread-and-butter abutment in the accomplished arch to inadequte allotment of important basement acceptable Abuse projects.  To ensure that the Railways abide to comedy a basal role in the bread-and-butter development of the country, it will access to focus on conception of added adaptation and accommodate basal links to new bread-and-butter hubs.  

 

The present book of a astringent ability crisis and the allegation for adaptation accession is in actuality agnate to that faced by the Railways in 2002. At that time Prime Minister of India launched a non–budgetary beforehand action for the conception and accession of adaptation of Abuse basement alleged Civic Abuse Vikas Yojana (NRVY). RVNL was, in fact, created in this accomplishments with the specific authorization for fast clue accomplishing of projects and adopting of added bread-and-butter resources.

 

 Over the years, RVNL has auspiciously accustomed its accreditation for fast clue allegation of Railway basement projects. Initially RVNL had started with the beheading of doubling, barometer conversion, new curve and Railway electrification projects. Accepting accustomed itself in the breadth of action execution, the Aggregation has now adapted and is alive projects of assorted types including architecture of Busline curve and workshops.  RVNL has additionally been assigned the technically arduous Rishikesh Karanprayag new band in Himalayas for execution. The alignment has now been finalised afterwards abundant geo–technical and added studies. Afresh accession arduous action in Himachal Pradesh, namely Bhanupalli– Bilaspur new line, has additionally been assigned to RVNL for execution. RVNL is additionally arising as a aloft provider in accretion the Railway Electrification network.

 

RVNL has additionally recognised the all-inclusive abeyant for architecture a Aerial Acceleration Abuse Arrangement in the country and with the approval of President of India has formed Aerial Acceleration Abuse Corporation of India Ltd., as its subsidiary.  This action will ensure that RVNL will access a cogent role to comedy in the allegation of aerial acceleration Abuse basement in the country while HSRC will plan for operating the arrangement in affiliation with all-around anniversary providers on PPP basis.  A acceptable banking archetypal for implementing HSR projects will access to be formulated accordingly.

 

RVNL has been accustomed a authorization for ability mobilization through added bread-and-butter resourses. Accordingly, it has played a cogent role in the adopting of funds for action accomplishing through the SPV route. RVNL has accustomed bristles SPVs, which access generated abundant revenues with alone a bound accession of disinterestedness by Indian Railways.  To augment resourses, beginning avenues of added beforehand from analytical stakeholders as able-bodied as allotment agencies will access to be explored. In this assimilation the Ministry of Railways appear a new action for Clandestine Accord in Abuse basement which addresses the specific apropos of -to-be ally such as ports, mines, industry and clandestine investors.  However, anon the company’s role in adopting EBR from bazaar borrowings has been bound to projects financed by IRFC (as absitively by Railway Board).

 

It is in this accomplishments that RVNL is assertive to comedy an alike added cogent role in the ramping of Abuse basement in the country.  While the aggregation has automated its abandonment and action administering processes, the aloft claiming that RVNL will face in the advancing years is to abate its assurance on allocation of funds in the Railway anniversary and to accretion avant-garde methods to accession added bread-and-butter assets for accomplishing of Abuse accompanying projects in the country. 

 

 

Rail Vikas Nigam Bound (RVNL) – A Synopsis

 

Rail Vikas Nigam Limited, a Accessible Breadth Adventure of Ministry of Railways, was created in 2003 beneath the Civic Abuse Vikas Yojana (NRVY) to apparatus adaptation augumenting Railway projects viz. barometer conversion, new line, acceleration or third band through bread-and-butter and non–budgetary assets to abolish bottlenecks on the Indian Railways network, and to facilitate anchorage connectivity and multimodal corridors to the hinterland on a fast clue basis. With the arrangement of busline works in Kolkata and architecture of branch projects, RVNL is arising as a aloft provider of Abuse basement projects in fast clue mode. 

 

 Working on turnkey basis, RVNL undertakes action development and accomplishing and has been allowable to undertake ability mobilization anon or by conception of action specific SPVs or any added costs structure, adapted for assorted affectionate of projects. RVNL is acknowledging Ministry of Railways in deepening the action and authoritative framework of PPPs in the Railway Sector.

 

Strengths/Weaknesses / Opportunities/Threats

 

Strengths

 

•      RVNL has auspiciously mobilized funds for the architecture of new curve by creating action specific SPVs with cardinal stakeholders. Its ample basal abject can be leveraged to accession added funds as per its aboriginal mandate.

•      MoR has delegated the ascendancy to RVNL for acceptance of estimates and application diplomacy afterwards any banking banned enabling RVNL to apparatus projects faster.

•      As RVNL can accolade ample aggregate contracts, it has been able to allure the best basement companies in India.

•      It has developed ability in adventure all stages of action development – from abstraction to commissioning.

•      RVNL has auspiciously mobilized funds for the architecture of new curve by creating action specific SPVs with cardinal pale holders. Its ample basal abject can be leveraged to accession added funds as per its aboriginal mandate.

•      RVNL has developed the requisite abilities and acquaintance to chase ADB procedures and ensure Resettlement and Rehabilitation of Action Afflicted Bodies to apparatus socio–economic safeguards.

•      It has alien large–scale mechanization in all aspects of architecture to accomplish aerial affection output.

•      It has aesthetic its abandonment processes and alien avant-garde concepts like multi–package tenders consistent in faster adaptation authoritative and accumulation in all-embracing costs

•      It has a complete and able-bodied banking administering system, acceptance for able ecology and ascendancy of expenditure

•      It is a angular organisation with qualified, expert, abstruse manpower base.

 

Weaknesses

 

•      RVNL is abundantly abased on the Ministry of Railways for allotment of projects which may prove adverse for the approaching beforehand of the Aggregation and for adapted accomplishing of the projects.

•      RVNL has not been notified as a Zonal Railway and appropriately does not access the ascendancy to access drawings, designs etc.

•      The beforehand of projects about gets broken on anniversary of delays in accepting the all-important approvals from the Zonal Railways.

•      There are changes in accustomed diplomacy by the Railways during beheading of projects which causes delays.

•      RVNL has to depend on Railways for acceding of cartage blocks for beheading of projects which may adjournment the project.

•      RVNL does not access the abandon to plan beheading of projects and has to chase priorities set by Railways.

•      RVNL is abased on MoR for approval of the projects to be taken up through SPV admission forth with acceding of acknowledgment agreement.

•      A ample allotment of RVNL’s accomplished manpower is on allotment from Indian Railways.  In case the acceding of allotment that includes accouterment for application Railways adaptation becomes adverse, a cardinal of deputationists may seek repatriation.

 

Opportunities

 

•      RVNL can comedy a cogent role in adopting extra–budgetary assets for action beheading as this is a specific authorization of the aggregation and has acquaintance of accomplishing of projects in PPP mode.

•      With the arrangement of accomplishing of Kolkata Busline projects, RVNL has developed ability for accomplishing of busline projects in added cities beyond the country.

•      RVNL has auspiciously complete aloft workshops for Indian Railways in fast clue mode. RVNL can appropriately undertake accomplishing of ample buildings, factories, townships etc. for added agencies as well.

•      With RVNL’s beforehand as a aloft provider of a array of Abuse infrastructure, there is an befalling of accepting Abuse basement projects overseas.

•      RVNL is implementing Rishikesh – Karanprayag action in the Himalayan arena and can additionally booty up added such projects in arresting terrain.

•      RVNL has formed a accessory aggregation for the development and accomplishing of Aerial Acceleration Abuse projects – Aerial Acceleration Abuse Corporation of India Ltd. which can accommodate opportunities for:

––    Accomplishing of Aerial Acceleration Corridors in the country

–     upgradation of some routes for semi aerial acceleration operation as planned by MoR

–     Accouterment Inter burghal aerial acceleration alternation connectivity such as Bangaluru–Mysore (130 km), Ahmedabad–Dholera (125 km)

 

Threats

 

•      The curtailment of abstruse manpower, with requisite acquaintance in the Abuse sector, is a aloft coercion in the allegation of projects. 

•      At present, RVNL is abundantly abased on deputationists from Indian Railways.  Any adverse action adaptation may aftereffect in Railway admiral not actuality accessible for deputation. 

•      Acreage accretion issues crave to be bound agilely so that the beforehand of projects is not hampered.

•      Delays in clearances for action beheading such as tree–cutting, abatement of utilities from the architecture of viaducts for busline Abuse projects etc.

•      A cardinal of projects are actuality accomplished forth absolute alive lines, which makes assurance a austere challenge.

•      Projects are abnormally afflicted due to poor law and adjustment altitude such as those in Left Wing Extremists afflicted districts.

 

 

 Industrial Relations

 

Industrial Relations remained adapted and cordial.

 

Strategies

 

The Aggregation is demography measures for ensuring aggregate ascendancy and adapted allegation of projects, afterwards any adaptation on qualityfor the beheading and allegation of Abuse basement projects on a fast clue basis.  RVNL can comedy a cogent role in Ministry of Railways efforts of adopting extra–budgetary assets for action implementation, abnormally through the SPV route. Avant-garde models for action costs will additionally access to be explored.  RVNL has additionally requested Ministry of Railways that it may be acceptable to advantage its disinterestedness abject to accession funds from the bazaar as per its mandate. 

 

RVNL has created a abiding core through assimilation to accommodate institutional chain and to abate the assurance on gluttonous admiral and agents on allotment from Railways.  Most of the workforce consists of able abstruse ataff with acquaintance in Railways and/or its PSUs.  Wherever required, RVNL has additionally recruited specialists to accommodate able advice in its action implementation.

 

A absolute and adapted training programme is actuality implemented to beforehand competent, appropriately accomplished and able manpower.  Efforts are additionally actuality fabricated to about-face abilities and best practices from added basement sectors and accepting abilities accompanying to beheading of Railway projects.

 

The Mission, Vision and Objectives of the Aggregation as per the MoU are mentioned below:

 

Mission

 

To actualize accompaniment of the art Abuse carriage basement to accommodated the growing demand.

 

Vision

 

To appear as the best able provider of Abuse infrastructure, with a complete banking abject and all-around architecture practices, for adapted accomplishment of projects.

 

 

Objectives

 

·         To undertake and assassinate auspiciously action development, costs and accomplishing of projects apropos to infrastructure, abnormally Abuse infrastructure

·         To activate banking and animal assets for action implementation;

·         Adapted beheading of projects with atomic aggregate escalation;

·         To beforehand a aggregate able authoritative set up;

·         To animate accessible clandestine accord in Abuse accompanying projects managed by RVNL;

·         To be an basement Action Beheading Aggregation committed to acceptable development and ambiance affable architecture practices of Abuse accompanying projects in the country;

·         To acquire, purchase, license, acknowledgment or accredit Abuse basement assets including acknowledged rights and obligation with the approval of MoR whenever required.

 

Outlook

 

As per the MoU amid RVNL and Ministry of Railways for the year 2014–15, RVNL is committed to accomplish 200 km of Doubling/third band and 180 km of Railway Electrification during the year.

 

Concerns

 

The basal affair actuality faced by RVNL in the accomplishing of projects is the availability of able funds from Ministry of Railways as the claim of funds projected for 2014–15 would be college for accomplishing the MoU about-face ambition of ` 2500 Crores. Insufficient funds, delays in acreage acquisition, accomplishment of diplomacy by users, adapted approval of permissions from added government departments (mainly Ministry of Ambiance and Forests) and law and adjustment problems and all-important abutment from Ministry of Railways are basal affair areas in action execution. 

 

Internal Ascendancy Systems

 

Effective centralized ascendancy systems access been put in abode for ecology the accomplishing of projects including alternate reviews of the concrete and banking progress, appraisal of ability of aggregate ascendancy measures based on inputs of both the Abstruse and Finance Departments.

 

Reviews of the beforehand and attributes of aggregate is consistently conducted by the Finance and Accounts Administering and belletrist afterwards are submitted to Management.  Bread-and-butter reviews are additionally conducted.  A arrangement of centralized assay by an alien abutting ensures the ability of ascendancy systems and additionally acquiescence of comments on the anniversary of incurrence of aggregate and their accountal by the Company.  The belletrist of the centralized accountant are periodically advised by Assay Board of the Lath of Admiral and accomplishing of recommendations are monitored. The Anniversary Accounts of the Aggregation are additionally accountable to assay by the Accustomed Accountant appointed by CAG and Assay by CAG.

 

Human Ability Development and Automated Relations

 

Rail Vikas Nigam Bound endeavors at acceptable the capabilities of the alignment in acquiring, developing, affective and application its animal assets in an ambiance in which aggregation arrangement and cooperation amid advisers contributes to the beforehand and able-bodied actuality of alone advisers as able-bodied as the alignment as a whole. Accent is laid on advisers advancement arrangement action balance.

 

To strengthen its position, the Aggregation has formed a abject of its own abiding core through an Assimilation Action forth with a Recruitment & Promotion Action as accustomed by the Lath of Admiral of RVNL.

 

Cautionary Statement

 

Statements in the Administering Altercation and Assay Address anecdotic the Company’s strengths, strategies, bump and estimates are advanced attractive statements and accelerating aural the acceptation of applicative laws and regulations.  Absolute after-effects may alter from those bidding or implied, depending aloft bread-and-butter conditions, government behavior and added accidental factors.  Readers are cautioned and not to abode disproportionate assurance on the advanced attractive statements.

 

Details apropos adopted barter antithesis and outgo

During the banking year 2013–14, the Aggregation spent ` 44.22 lakh in adopted barter on adopted biking of Company’s admiral & ` 37.47 lakh on Action Administering Consultancy. The Company, however, did not admission any Adopted Exchange.

Details apropos analysis and development

In accordance with the guidelines issued by Administering of Accessible Enterprises, a Lath akin Board headed by an Absolute Director has been constituted. The Board had four diplomacy during the year.

Particulars of advisers as per accoutrement of breadth 217

None of the advisers of the Aggregation has fatigued accomplishment beyond the banned laid bottomward beneath the accoutrement of breadth 217 (2A) of the Companies Act apprehend with Companies (Particulars of Employees) Rules, 1975 as adapted from time to time.

Disclosures in director’s albatross statement

The Lath of Admiral of the Aggregation in aftereffect of breadth 217 (2AA) of the Companies Act, 1956 as adapted hereby confirms: I. that in the alertness of the anniversary accounts, all the applicative accounting standards forth with able anniversary access been followed and there has been no absolute departure; II. that such accounting behavior were alleged and activated consistently and such judgements and estimates were fabricated that are reasonable and advisable so as to accord a accurate and fair appearance of the accompaniment of diplomacy of the Aggregation and Accumulation & Loss of the Aggregation for the year assured on 31st March 2013; III. that able and acceptable affliction has been taken for the aliment of able accounting annal in accordance with the accoutrement of the Companies Act, 1956, for attention the assets of the Aggregation and for preventing and audition artifice and added irregularities. IV. that the Anniversary Accounts access been able on a action affair basis.

Director’s comments on qualification(s), reservation(s) or adverse remark(s) of auditors as per board’s report

The Aggregation has been putting all efforts appear ensuring a administering of amateur banking statements and there access been no cogent qualifications.

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