sandur manganese & iron ores ltd (crd) · key financial highlights, 2013-14 revenues (h crore)...
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-
MINING - BUSINESS WITH THE HEART
The Sandur Manganese & Iron Ores Limited
Annual Report 2013-14
-
CO
RPO
RA
TE IN
FORM
ATIO
N
DIR
ECTO
RS
S. Y
. Gho
rpad
e, C
hairm
an &
Man
agin
g D
irect
or
Naz
im S
heik
h, J
oint
Man
agin
g D
irect
or
S. H
. Moh
an, E
xecu
tive
Dire
ctor
(Pro
ject
s)
S. R
. Srid
har,
Exe
cutiv
e D
irect
or (M
ines
)
R. S
ubra
man
ian,
Dire
ctor
V. B
alas
ubra
man
ian,
Dire
ctor
P. V
ishw
anat
ha S
hett
y, D
irect
or
U. R
. Ach
arya
, Dire
ctor
(Com
mer
cial
)
K. R
aman
, Dire
ctor
(Fin
ance
)
B. A
nand
a Ku
mar
, D
irect
or
S. S
. Rao
, Add
ition
al D
irect
or
Vat
sala
Wat
sa, A
dditi
onal
Dire
ctor
CO
MPA
NY
SEC
RETA
RY &
CO
MPL
IAN
CE
OFF
ICER
Md.
Abd
ul S
alee
m, C
S &
CG
M (M
ines
)
CH
IEF
FIN
AN
CE
OFF
ICER
K. R
aman
, Dire
ctor
(Fin
ance
)
AU
DIT
ORS
M/s
. Del
oitt
e H
aski
ns &
Sel
ls
Bang
alor
e
SHA
RE T
RAN
SFER
AG
ENT
Ven
ture
Cap
ital &
Cor
pora
te
Inve
stm
ents
Priv
ate
Lim
ited
Hyd
erab
ad
BAN
KER
Stat
e Ba
nk o
f M
ysor
e
ENV
IRO
NM
ENT
CO
MM
ITTE
E
S. Y
. Gho
rpad
e, C
hairm
an
Naz
im S
heik
h, M
embe
r
V. B
alas
ubra
man
ian,
Mem
ber
K. R
aman
, Mem
ber
B. A
nand
a Ku
mar
, Mem
ber
AU
DIT
CO
MM
ITTE
E
R. S
ubra
man
ian,
Cha
irman
V. B
alas
ubra
man
ian,
Mem
ber
B. A
nand
a Ku
mar
, Mem
ber
S. S
. Rao
, Mem
ber
Vat
sala
Wat
sa, M
embe
r
NO
MIN
ATI
ON
& R
EMU
NER
ATI
ON
CO
MM
ITTE
E
P. V
ishw
anat
ha S
hett
y, C
hairm
an
R. S
ubra
man
ian,
Mem
ber
V. B
alas
ubra
man
ian,
Mem
ber
B. A
nand
a Ku
mar
, Mem
ber
S. S
. Rao
, Mem
ber
Vat
sala
Wat
sa, M
embe
r
STA
KEH
OLD
ERS
RELA
TIO
NSH
IP C
OM
MIT
TEE
V. B
alas
ubra
man
ian,
Cha
irman
S. Y
. Gho
rpad
e, M
embe
r
Naz
im S
heik
h, M
embe
r
B. A
nand
a Ku
mar
, Mem
ber
RISK
MA
NA
GEM
ENT
CO
MM
ITTE
E
S. Y
. Gho
rpad
e, C
hairm
an
Naz
im S
heik
h, M
embe
r
V. B
alas
ubra
man
ian,
Mem
ber
K. R
aman
, Mem
ber
B. A
nand
a Ku
mar
, Mem
ber
S. S
. Rao
, Mem
ber
Vat
sala
Wat
sa, M
embe
r
CO
RPO
RATE
SO
CIA
L RE
SPO
NSI
BILI
TY C
OM
MIT
TEE
S. Y
. Gho
rpad
e, C
hairm
an
Naz
im S
heik
h, M
embe
r
S. R
. Srid
har,
Mem
ber
V. B
alas
ubra
man
ian,
Mem
ber
K. R
aman
, Mem
ber
S. S
. Rao
, Mem
ber
REG
ISTE
RED
OFF
ICE:
Laks
hmip
ur, s
andu
r-58
3 11
9
Bella
ry d
ist.
, Kar
nata
ka
CONTENTS
01
Co
rpor
ate
Info
rmat
ion
05
Co
rpor
ate
Iden
tity
06
Fi
nanc
ial H
ighl
ight
s
08
N
otic
e
18
D
irect
ors’
Rep
ort
23
A
nnex
ure
to D
irect
ors’
Rep
ort
24
Co
rpor
ate
Gov
erna
nce
36
CE
O &
CFO
Cer
tific
ate
and
CMD
Cer
tific
ate
37
A
udito
rs’ C
ertif
icat
e on
Cor
pora
te G
over
nanc
e
38
M
anag
emen
t D
iscu
ssio
n &
Ana
lysi
s Re
port
41
In
depe
nden
t A
udito
rs’ R
epor
t
44
Ba
lanc
e Sh
eet
45
St
atem
ent
of P
rofit
and
Los
s
46
Ca
sh F
low
Sta
tem
ent
48
N
otes
for
min
g pa
rt o
f th
e Fi
nanc
ial S
tate
men
ts
71
Se
ctio
n 21
2
73
In
depe
nden
t A
udito
rs’ R
epor
t on
Con
solid
ated
Fin
anci
al S
tate
men
ts
74
Co
nsol
idat
ed F
inan
cial
Sta
tem
ents
101
D
irect
ors’
& In
depe
nden
t A
udito
rs’ R
epor
ts &
Fin
anci
al S
tate
men
ts o
f SM
PPL
-
The
resu
lt is
that
we
wer
e am
ong
the
first
co
mpa
nies
to b
e per
mitt
ed b
y the
Hon
’ble
Su
prem
e Co
urt
to
resu
me
min
ing
in
Karn
atak
a, le
adin
g to
res
tora
tion
of o
ur
reve
nues
and
ear
ning
s in
201
3-14
.
At
SMIO
RE, s
cien
tific
and
sys
tem
atic
m
inin
g pr
actic
es,
with
con
cern
for
th
e ec
olog
y an
d en
viro
nmen
t, ha
ve
alw
ays
held
spe
cial
impo
rtan
ce.
2
A
nnua
l Rep
ort
2013
-14
The
Sand
ur M
anga
nese
& Ir
on O
res
Lim
ited
3
-
The
wor
ds ‘s
usta
inab
ility
’ an
d ‘e
thic
s’ a
re i
nteg
ral
to th
e bu
sines
s m
odel
of
SMIO
RE, w
ith a
focu
s on
empl
oyee
wel
fare
.
Our
Com
pany
has
a p
erm
issi
ble
min
ing
capa
city
of
1.5
5 m
illio
n t
on
nes
of ir
on o
re c
ompa
red
to a
tot
al o
f
30 m
illio
n t
on
nes
in K
arna
taka
Val
ues
Fai
rnes
s E
thic
s T
rans
pare
ncy
Acc
ount
abili
ty
Int
egrit
y in
Cor
pora
te G
over
nanc
e
Our
bac
kgro
und
Th
e Sa
ndur
M
anga
nese
&
Iro
n O
res
Lim
ited
(SM
IORE
) w
as
foun
ded
in
1954
as
a pr
ivat
e lim
ited
com
pany
by
the
form
er r
uler
of
the
prin
cely
sta
te
of
Sand
ur,
Yesh
wan
trao
H
indu
rao
Gho
rpad
e. T
he o
bjec
tive
of t
he b
usin
ess
was
to
sc
ient
ifica
lly
deve
lop
the
man
gane
se o
re a
nd ir
on o
re m
ines
. Th
e m
inin
g le
ase
gran
ted
to h
im c
over
ed a
n ar
ea o
f ab
out
7,51
5 he
ctar
es.
SMIO
RE
was
co
nver
ted
into
a
publ
ic
limite
d co
mpa
ny
in
1964
w
ith
the
obje
ctiv
e to
es
tabl
ish
an
elec
tro-
met
allu
rgic
al
indu
stry
an
d di
vers
ify
oper
atio
ns i
nto
the
man
ufac
ture
of
pig
iron
and
ferr
oallo
y us
ing
the
Com
pany
’s
capt
ive
iron
and
man
gane
se
ore
reso
urce
s.
Mur
arira
o Ye
shw
antr
ao
Gho
rpad
e,
the
elde
st s
on o
f Y.
R. G
horp
ade,
was
as
soci
ated
w
ith
the
man
agem
ent
of
the
Com
pany
fro
m i
ts i
ncep
tion.
M.Y
. G
horp
ade
repr
esen
ted
Sand
ur
in
the
Karn
atak
a A
ssem
bly
for
abou
t fo
ur
deca
des
and
serv
ed
as
Karn
atak
a’s
Fina
nce
Min
iste
r an
d Ru
ral D
evel
opm
ent
& P
anch
ayat
Raj
Min
iste
r. H
e de
velo
ped
SMIO
RE
into
on
e of
th
e fin
est
prof
essi
onal
ly
man
aged
co
mpa
nies
of
In
dia,
w
iden
ing
the
Com
pany
’s
busi
ness
es a
cros
s m
anga
nese
ore
, iro
n or
e, f
erro
allo
y an
d po
wer
gen
erat
ion.
Shiv
rao
Yesh
wan
trao
G
horp
ade,
th
e
youn
ger
brot
her
of
M.Y
. G
horp
ade,
is
the
Cha
irman
& M
anag
ing
Dire
ctor
of
th
e Co
mpa
ny.
S.
Y.
Gho
rpad
e is
re
cogn
ised
as
on
e of
th
e Co
untr
y’s
mos
t em
inen
t m
etal
lurg
ical
en
gine
ers
and
larg
ely
resp
onsi
ble
for
build
ing
the
Com
pany
’s f
erro
allo
y pl
ant
from
scr
atch
in
to o
ne o
f th
e fin
est
plan
ts in
Indi
a.
Our
bus
ines
s SM
IORE
is
enga
ged
in t
he b
usin
ess
of
min
ing
man
gane
se a
nd ir
on o
res,
whi
ch
are
criti
cal r
esou
rces
in t
he m
anuf
actu
re
of fe
rrou
s met
als a
nd st
eel.
In a
ccor
danc
e w
ith
the
dire
ctio
ns
of
the
Hon
’ble
Su
prem
e Co
urt,
SM
IORE
is
pr
esen
tly
perm
itted
to
op
erat
e an
d pr
oduc
e 0.
1874
m
illio
n to
nnes
pe
r an
num
of
m
anga
nese
ore
and
0.7
4 m
illio
n to
nnes
pe
r an
num
of
iron
ore.
Co
nsid
erin
g th
e al
read
y es
tabl
ishe
d re
serv
es o
f 37
m
illio
n to
nnes
of
Iron
Ore
, SM
IORE
may
be
pe
rmitt
ed
to
prod
uce
1.55
m
illio
n to
nnes
per
ann
um o
f iro
n or
e. R
eser
ve
estim
atio
n is
still
in
proc
ess
and
pres
ent
indi
catio
ns a
re th
at fi
nally
pro
ven
rese
rves
w
ill
be
abou
t 7
to
8 m
illio
n to
nnes
m
anga
nese
ore
and
40
mill
ion
tonn
es o
f
iron
ore,
whi
ch w
ill j
ustif
y a
perm
issib
le
prod
uctio
n ca
paci
ty o
f ab
out
0.4
mill
ion
tonn
es p
er a
nnum
man
gane
se o
re a
nd 2
m
illio
n to
nnes
per
ann
um ir
on o
re.
Our
res
pec
tSM
IORE
is
on
e of
21
(o
ut
of
166)
co
mpa
nies
to
ha
ve
been
cl
assi
fied
as
‘Cat
egor
y A
’ by
the
Hon
’ble
Sup
rem
e Co
urt,
acc
ount
ing
for
abou
t 50
per
cen
t of
the
min
ing
area
hel
d by
the
se 2
1 co
mpa
nies
.
4
A
nnua
l Rep
ort
2013
-14
The
Sand
ur M
anga
nese
& Ir
on O
res
Lim
ited
5
-
Key financial highlights, 2013-14Revenues (H crore)
2009-10
2010-11
2011-12
2012-13
2013-14
287.47
348.36
180.64
161.19
299.71
Net profit after tax (H crore)
2009-10
2010-11
2011-12
2012-13
2013-14
29.17
91.69
8.49
32.51
38.37
EBIDTA
(H crore)
2009-10
2010-11
2011-12
2012-13
2013-14
54.97
149.00
37.67
49.95
67.19
ROCE (percent)
2009-10
2010-11
2011-12
2012-13
2013-14
25.7%
49.6%
12.2%
14.6%
17.8%
EBIDTA
margin (percent)
2009-10
2010-11
2011-12
2012-13
2013-14
19.12%
42.77%
20.86%
30.99%
22.42 %
Earnings per share (H)
2009-10
2010-11
2011-12
2012-13
2013-14
33.34
104.79
9.70
37.16
43.85
Cash profit (H crore)
2009-10
2010-11
2011-12
2012-13
2013-14
53.43
146.97
37.67
47.59
67.18
Book value per share (H)
2009-10
2010-11
2011-12
2012-13
2013-14
244.46
343.44
353.14
390.30
430.64
6 A
nnual Report 2013-14
The Sandur M
anganese & Iron O
res Limited
7
-
NO
TIC
EN
otic
e is
her
eby
give
n th
at th
e Si
xtie
th A
nnua
l Gen
eral
Mee
ting
of th
e M
embe
rs o
f the
Com
pany
will
be
held
on
Satu
rday
the
27th
day
of S
epte
mbe
r 20
14 a
t 11
.00
A.M
. at
Anu
radh
a H
all,
Shiv
apur
, San
dur
- 58
3 11
9, t
o tr
ansa
ct, w
ith o
r w
ithou
t m
odifi
catio
ns,
as m
ay b
e pe
rmis
sibl
e, t
he f
ollo
win
g bu
sine
ss:
Ord
inar
y b
usin
ess
1.
To c
onsi
der,
app
rove
and
ado
pt A
udite
d Ba
lanc
e Sh
eet
of
the
Com
pany
as
at 3
1 M
arch
201
4 an
d St
atem
ent o
f Pro
fit
& L
oss
for
the
year
end
ed o
n th
at d
ate,
tog
ethe
r w
ith t
he
repo
rts
of t
he A
udito
rs a
nd t
he D
irect
ors’
the
reon
.
2.
To d
ecla
re d
ivid
end
on e
quity
sha
res.
3.
To a
ppoi
nt a
dire
ctor
in p
lace
of U
. R. A
char
ya, w
ho r
etire
s by
rota
tion
as d
irect
or, a
nd b
eing
elig
ible
, off
ers
him
self
for
re-e
lect
ion.
4.
To r
e-ap
poin
t M
/s.
Del
oitt
e H
aski
ns &
Sel
ls,
Char
tere
d A
ccou
ntan
ts, B
anga
lore
(ICA
I Reg
istr
atio
n N
o.00
8072
S), a
s au
dito
rs o
f the
Com
pany
to h
old
offic
e fr
om th
e co
nclu
sion
of
thi
s m
eetin
g un
til t
he c
oncl
usio
n of
nex
t th
ree
Ann
ual
Gen
eral
Mee
tings
, to
be
ratif
ied
at e
ach
Ann
ual
Gen
eral
M
eetin
g, a
nd t
o fix
the
ir re
mun
erat
ion.
Spec
ial b
usin
ess
5.
To c
onsi
der
and,
if
thou
ght
fit,
to p
ass
the
follo
win
g re
solu
tion,
w
hich
w
ill
be
prop
osed
as
an
O
RDIN
ARY
RE
SOLU
TIO
N:
“R
ESO
LVED
TH
AT
purs
uant
to
the
prov
isio
ns o
f Se
ctio
ns
152
and
161
and
othe
r app
licab
le p
rovi
sion
s, if
any
, of t
he
Com
pani
es A
ct,
2013
and
Sch
edul
e IV
the
reto
, Sa
ttira
ju
Sesh
agiri
Rao
, who
was
app
oint
ed a
s an
Add
ition
al D
irect
or
of t
he C
ompa
ny o
n 1
Sept
embe
r 20
13 b
y th
e Bo
ard
of
Dire
ctor
s in
ter
ms
of S
ectio
n 26
0 of
the
Com
pani
es A
ct,
1956
(co
rres
pond
ing
to S
ectio
n 16
1 of
the
Com
pani
es
Act
, 20
13),
who
hol
ds t
his
offic
e on
ly u
p to
the
dat
e of
th
is A
nnua
l G
ener
al M
eetin
g, a
nd i
n re
spec
t of
who
m,
the
Com
pany
has
rec
eive
d a
notic
e in
writ
ing
alon
g w
ith
the
depo
sit
of H
1,00
,000
/- u
nder
Sec
tion
160
of t
he s
aid
Act
from
a m
embe
r pr
opos
ing
the
cand
idat
ure
of S
attir
aju
Sesh
agiri
Rao
for
the
off
ice
of D
irect
or,
be a
nd i
s he
reby
el
ecte
d an
d ap
poin
ted
as D
irect
or o
f th
e Co
mpa
ny.”
6.
To c
onsi
der
and
if th
ough
t fit
, to
pas
s th
e fo
llow
ing
reso
lutio
n,
whi
ch
will
be
pr
opos
ed
as
an
ORD
INA
RY
RESO
LUTI
ON
:
“R
ESO
LVED
TH
AT
purs
uant
to
the
prov
isio
ns o
f Se
ctio
ns
152
and
161
and
othe
r ap
plic
able
pro
visi
ons,
if
any,
of
the
Com
pani
es A
ct, 2
013
and
Sche
dule
IV t
here
to, V
atsa
la
Wat
sa,
who
w
as
appo
inte
d as
an
A
dditi
onal
D
irect
or
of t
he C
ompa
ny o
n 1
Sept
embe
r 20
13 b
y th
e Bo
ard
of
Dire
ctor
s in
ter
ms
of S
ectio
n 26
0 of
the
Com
pani
es A
ct,
1956
(co
rres
pond
ing
to S
ectio
n 16
1 of
the
Com
pani
es
Act
, 20
13),
who
hol
ds t
his
offic
e on
ly u
p to
the
dat
e of
th
is A
nnua
l G
ener
al M
eetin
g, a
nd i
n re
spec
t of
who
m,
the
Com
pany
has
rec
eive
d a
notic
e in
writ
ing
alon
g w
ith
the
depo
sit
of H
1,00
,000
/- u
nder
Sec
tion
160
of t
he s
aid
Act
fro
m a
mem
ber
prop
osin
g th
e ca
ndid
atur
e of
Vat
sala
W
atsa
for
the
off
ice
of D
irect
or,
be a
nd is
her
eby
elec
ted
and
appo
inte
d as
Dire
ctor
of
the
Com
pany
.”
7.
To c
onsi
der
and,
if
thou
ght
fit,
to p
ass
the
follo
win
g re
solu
tion,
w
hich
w
ill
be
prop
osed
as
a
SPEC
IAL
RESO
LUTI
ON
:
“R
ESO
LVED
TH
AT
purs
uant
to
the
prov
isio
ns o
f Se
ctio
ns
149,
150
, 152
, 160
and
oth
er a
pplic
able
pro
visi
ons,
if a
ny,
of t
he C
ompa
nies
Act
, 20
13 a
nd S
ched
ule
IV t
here
to,
R.
Subr
aman
ian
who
was
app
oint
ed a
s (a
n In
depe
nden
t)
Dire
ctor
of
the
Com
pany
, lia
ble
to r
etire
by
rota
tion,
and
in
res
pect
of
who
m,
the
Com
pany
has
rec
eive
d a
notic
e in
writ
ing
alon
g w
ith t
he d
epos
it of
H1,
00,0
00/-
und
er
Sect
ion
160
of t
he s
aid
Act
fro
m a
mem
ber
prop
osin
g th
e ca
ndid
atur
e of
R.
Subr
aman
ian
for
the
offic
e of
Dire
ctor
, be
and
is
here
by e
lect
ed a
nd a
ppoi
nted
as
a D
irect
or o
f th
e Co
mpa
ny f
or a
noth
er t
erm
of
four
con
secu
tive
year
s ex
pirin
g at
the
Ann
ual
Gen
eral
Mee
ting
for
the
finan
cial
ye
ar 2
017-
18 i.
e., b
efor
e th
e en
d of
Sep
tem
ber
2018
.”
8.
To
take
on
re
cord
sp
ecia
l re
solu
tions
pa
ssed
, fo
r re
-de
sign
atio
n an
d el
evat
ion
of c
erta
in p
erso
nnel
, by
the
sh
areh
olde
rs o
f th
e Co
mpa
ny t
hrou
gh p
osta
l ba
llot
in
acco
rdan
ce w
ith th
e pr
ovis
ions
of S
ectio
n 19
2A o
f the
Act
, 19
56 re
ad w
ith C
ompa
nies
(Pas
sing
of R
esol
utio
n by
Pos
tal
Ballo
t) R
ules
, 201
1:
A
. Re
-des
igna
tion
of S
. H
. M
ohan
as
Exec
utiv
e D
irect
or
(Pro
ject
s):
“RES
OLV
ED
THA
T in
pa
rtia
l m
odifi
catio
n of
th
e re
solu
tions
pa
ssed
by
th
e sh
areh
olde
rs
of
the
Com
pany
at
the
57th
Ann
ual
Gen
eral
Mee
ting
held
on
10
Sept
embe
r 20
11,
cons
ent
of t
he C
ompa
ny b
e an
d is
her
eby
acco
rded
to
re-d
esig
nate
S.
H.
Moh
an
as E
xecu
tive
Dire
ctor
(Pr
ojec
ts)
with
eff
ect
from
1
Sept
embe
r 20
13 o
r su
ch o
ther
des
igna
tion
as t
he
Boar
d m
ay d
eem
fit
from
tim
e to
tim
e.
“RES
OLV
ED F
URT
HER
TH
AT
all o
ther
ter
ms,
con
ditio
ns
and
rem
uner
atio
n as
set o
ut in
the
afor
esai
d re
solu
tions
an
d th
e co
rres
pond
ing
agre
emen
t re
mai
n un
alte
red.
”
B.
Re
-des
igna
tion
of S
. R.
Srid
har
as E
xecu
tive
Dire
ctor
(M
ines
):
“RES
OLV
ED
THA
T in
pa
rtia
l m
odifi
catio
n of
th
e re
solu
tions
pa
ssed
by
th
e sh
areh
olde
rs
of
the
Com
pany
at
the
57th
Ann
ual
Gen
eral
Mee
ting
held
on
10
Sept
embe
r 20
11,
cons
ent
of t
he C
ompa
ny b
e an
d is
her
eby
acco
rded
to
re-d
esig
nate
S.
R. S
ridha
r as
Ex
ecut
ive
Dire
ctor
(M
ines
) w
ith
effe
ct
from
1
Sept
embe
r 20
13 o
r su
ch o
ther
des
igna
tion
as t
he
Boar
d m
ay d
eem
fit
from
tim
e to
tim
e.
“RES
OLV
ED F
URT
HER
TH
AT
all o
ther
ter
ms,
con
ditio
ns
and
rem
uner
atio
n as
set o
ut in
the
afor
esai
d re
solu
tions
an
d th
e co
rres
pond
ing
agre
emen
t re
mai
n un
alte
red.
”
C
. Pr
omot
ion
of
Adi
tya
Shiv
rao
Gho
rpad
e as
Se
nior
G
ener
al M
anag
er (P
lant
):
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ion
314(
1) o
f th
e C
ompa
nies
Act
, 195
6 re
ad w
ith
Rule
10C
of
the
Com
pani
es (
Cen
tral
Gov
ernm
ent’
s)
Gen
eral
Rul
es &
For
ms,
195
6 as
am
ende
d on
7 J
uly
2011
an
d D
irect
ors’
Re
lativ
es
(Off
ice
or
Plac
e of
Pr
ofit)
Am
endm
ent
Rule
s, 2
011
and
othe
r ap
plic
able
pr
ovis
ions
, if
any,
con
sent
of
the
Com
pany
be
and
is
here
by a
ccor
ded
to A
dity
a Sh
ivra
o G
horp
ade,
rel
ativ
e of
one
of
the
Dire
ctor
s, t
o ho
ld t
he o
ffic
e of
pro
fit in
th
e C
ompa
ny a
s Se
nior
Gen
eral
Man
ager
(Pl
ant)
with
ef
fect
fro
m 1
Sep
tem
ber
2013
on
a ba
sic
sala
ry o
f H39
,800
/- p
er m
onth
in
the
grad
e of
H18
000-
1500
-33
000-
1700
-500
00-1
900-
6900
0/-
with
be
nefit
s of
de
arne
ss a
llow
ance
, lea
sed
resi
dent
ial a
ccom
mod
atio
n /
hous
e re
nt a
llow
ance
, fo
od s
ubsi
dy,
hous
ing
loan
in
tere
st
subs
idy,
pr
ovid
ent
fund
, su
pera
nnua
tion
fund
, gr
atui
ty a
nd o
ther
allo
wan
ces
and
perq
uisi
tes
and
priv
ilege
s as
app
licab
le t
o th
e ex
ecut
ives
in s
imila
r gr
ades
of
the
Com
pany
.”
D
. Pr
omot
ion
of D
hana
njai
Shi
vrao
Gho
rpad
e as
Dep
uty
Gen
eral
Man
ager
(Pro
ject
s):
“RES
OLV
ED t
hat
purs
uant
to
the
prov
isio
ns o
f Se
ctio
n 31
4(1)
of
the
Com
pani
es A
ct,
1956
rea
d w
ith R
ule
10C
of
th
e C
ompa
nies
(C
entr
al
Gov
ernm
ent’
s)
Gen
eral
Rul
es &
For
ms,
195
6 as
am
ende
d on
7 J
uly
2011
an
d D
irect
ors’
Re
lativ
es
(Off
ice
or
Plac
e of
Pr
ofit)
Am
endm
ent
Rule
s, 2
011
and
othe
r ap
plic
able
pr
ovis
ions
, if
any,
con
sent
of
the
Com
pany
be
and
is h
ereb
y ac
cord
ed t
o D
hana
njai
Shi
vrao
Gho
rpad
e,
a re
lativ
e of
one
of
the
Dire
ctor
s, t
o ho
ld t
he o
ffic
e of
pro
fit in
the
Com
pany
as
Dep
uty
Gen
eral
Man
ager
(P
roje
cts)
with
eff
ect
from
1 S
epte
mbe
r 20
13 o
n a
basi
c sa
lary
of H29
,000
/- p
er m
onth
in
the
grad
e of
H12
000-
800-
2000
0-10
00-3
0000
-120
0-42
000/
- w
ith
bene
fits
of
dear
ness
al
low
ance
, le
ased
re
side
ntia
l ac
com
mod
atio
n / h
ouse
ren
t al
low
ance
, foo
d su
bsid
y,
hous
ing
loan
in
tere
st
subs
idy,
pr
ovid
ent
fund
, su
pera
nnua
tion
fund
, gr
atui
ty a
nd o
ther
allo
wan
ces
and
perq
uisi
tes
and
priv
ilege
s as
app
licab
le t
o th
e ex
ecut
ives
in s
imila
r gr
ades
of
the
Com
pany
.”
E.
Pr
omot
ion
of M
ubee
n A
hmed
She
riff a
s A
ddl.
Gen
eral
M
anag
er (C
omm
erci
al):
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ion
314(
1) a
nd o
ther
app
licab
le p
rovi
sion
s, if
any
, of
the
Com
pani
es A
ct, 1
956
read
with
Rul
e 10
C o
f the
C
ompa
nies
(C
entr
al G
over
nmen
t’s)
Gen
eral
Rul
es &
Fo
rms,
195
6 as
am
ende
d on
7 Ju
ly 2
011
and
Dire
ctor
s’
Rela
tives
(O
ffic
e or
Pla
ce o
f Pr
ofit)
Am
endm
ent
Rule
s,
2011
and
oth
er a
pplic
able
pro
visi
ons,
if a
ny,
cons
ent
of th
e C
ompa
ny b
e an
d is
her
eby
acco
rded
to M
ubee
n A
hmed
She
riff,
a r
elat
ive
of o
ne o
f th
e di
rect
ors
of t
he
Com
pany
, to
hold
the
offic
e of
pro
fit in
the
Com
pany
as
Add
ition
al G
ener
al M
anag
er (
Com
mer
cial
) w
ith e
ffec
t fr
om 1
Sep
tem
ber
2013
on
a ba
sic
sala
ry o
f H31
,500
/-
per m
onth
in th
e gr
ade
of H
1400
0-11
00-2
5000
-130
0-38
000-
1500
-530
00/-
alo
ng w
ith b
enef
its o
f de
arne
ss
allo
wan
ce,
leas
ed r
esid
entia
l acc
omm
odat
ion
/ ho
use
rent
allo
wan
ce,
food
sub
sidy
, ho
usin
g lo
an i
nter
est
subs
idy,
pro
vide
nt fu
nd, s
uper
annu
atio
n fu
nd, g
ratu
ity
and
othe
r al
low
ance
s an
d pe
rqui
site
s an
d pr
ivile
ges
as
appl
icab
le t
o th
e ex
ecut
ives
in
sim
ilar
grad
es o
f th
e C
ompa
ny.”
9.
To
take
on
re
cord
sp
ecia
l re
solu
tions
pa
ssed
, fo
r re
-ap
poin
tmen
t of
w
hole
time
dire
ctor
s an
d m
akin
g in
vest
men
ts o
r gr
ant
loan
s to
Jay
aala
xmi
Min
eral
Priv
ate
Lim
ited,
by
the
shar
ehol
ders
of
the
Com
pany
thr
ough
po
stal
bal
lot
in a
ccor
danc
e w
ith t
he p
rovi
sion
s of
Sec
tion
102
and
110
of t
he C
ompa
nies
Act
, 20
13 r
ead
with
Rul
e 22
of
the
Com
pani
es (
Man
agem
ent
and
Adm
inis
trat
ion)
Ru
les,
201
4 an
d Cl
ause
35B
of t
he L
istin
g A
gree
men
ts w
ith
the
Stoc
k Ex
chan
ges:
A
. Re
-app
oint
men
t of
S.
Y
. G
horp
ade
as
Man
agin
g D
irect
or:
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ions
196
,197
, 203
and
oth
er a
pplic
able
pro
visi
ons,
8
A
nnua
l Rep
ort
2013
-14
The
Sand
ur M
anga
nese
& Ir
on O
res
Lim
ited
9
-
if an
y, o
f th
e C
ompa
nies
Act
, 20
13 a
nd S
ched
ule
V
ther
eto
and
all
appl
icab
le g
uide
lines
for
man
ager
ial
rem
uner
atio
n is
sued
by
the
Cen
tral
Gov
ernm
ent
from
tim
e to
tim
e, a
nd s
ubje
ct t
o su
ch o
ther
app
rova
ls a
s m
ay b
e re
quire
d, c
onse
nt o
f th
e C
ompa
ny b
e an
d is
her
eby
acco
rded
to
the
re-a
ppoi
ntm
ent
of S
. Y
. G
horp
ade
as M
anag
ing
Dire
ctor
, who
will
acc
ordi
ngly
be
not
liab
le t
o re
tire
by r
otat
ion,
for
a p
erio
d of
thr
ee
year
s w
ith e
ffec
t fr
om 1
Apr
il 20
14 u
pon
term
s an
d co
nditi
ons,
in
clud
ing
rem
uner
atio
n an
d ot
herw
ise,
as
con
tain
ed i
n th
e dr
aft
of a
n ag
reem
ent
expr
esse
d to
be
mad
e be
twee
n th
e C
ompa
ny o
f on
e pa
rt a
nd
the
said
S. Y
. Gho
rpad
e of
the
oth
er p
art,
whi
ch d
raft
is
ava
ilabl
e fo
r in
spec
tion
by t
he m
embe
rs a
t th
e Re
gist
ered
Off
ice
of t
he C
ompa
ny a
nd in
itial
ed b
y th
e C
ompa
ny S
ecre
tary
& C
hief
Gen
eral
Man
ager
(M
ines
) fo
r th
e sa
ke o
f id
entif
icat
ion
and
the
term
s th
ereo
f he
reby
app
rove
d, w
ith li
bert
y to
the
Boar
d (w
hich
term
sh
all b
e de
emed
to in
clud
e an
y C
omm
ittee
con
stitu
ted
/ to
be
cons
titut
ed b
y th
e Bo
ard)
fro
m t
ime
to t
ime,
to
alte
r th
e sa
id t
erm
s an
d co
nditi
ons,
inc
ludi
ng t
he
desi
gnat
ion,
in
such
man
ner
as m
ay b
e ag
reed
to
betw
een
the
Com
pany
and
the
sai
d S.
Y.
Gho
rpad
e,
in t
he b
est
inte
rest
of
the
Com
pany
, an
d as
may
be
perm
issi
ble
at la
w a
nd t
he s
tam
ped
engr
ossm
ents
of
the
said
agr
eem
ent
in d
uplic
ate
with
mod
ifica
tions
th
ereo
f,
if an
y,
as
afor
esai
d w
hen
final
ised
, be
ex
ecut
ed in
the
man
ner
auth
oris
ed b
y th
e A
rtic
les
of
Ass
ocia
tion
of t
he C
ompa
ny.”
B.
Re
-app
oint
men
t of
Naz
im S
heik
h as
Joi
nt M
anag
ing
Dire
ctor
:
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ions
196
, 197
, 203
and
oth
er a
pplic
able
pro
visi
ons,
if
any,
of
the
Com
pani
es A
ct,
2013
and
Sch
edul
e V
th
eret
o an
d al
l ap
plic
able
gui
delin
es f
or m
anag
eria
l re
mun
erat
ion
issu
ed b
y th
e C
entr
al G
over
nmen
t fr
om
time
to t
ime,
and
sub
ject
to
such
oth
er a
ppro
vals
as
may
be
requ
ired,
con
sent
of
the
Com
pany
be
and
is h
ereb
y ac
cord
ed t
o th
e re
-app
oint
men
t of
Naz
im
Shei
kh a
s Jo
int
Man
agin
g D
irect
or o
f th
e C
ompa
ny,
who
w
ill
acco
rdin
gly
be
not
liabl
e to
re
tire
by
rota
tion,
for
a p
erio
d of
thr
ee y
ears
with
eff
ect
from
1
Apr
il 20
14 u
pon
term
s an
d co
nditi
ons,
inc
ludi
ng
rem
uner
atio
n an
d ot
herw
ise,
as
cont
aine
d in
the
dra
ft
of a
n ag
reem
ent
expr
esse
d to
be
mad
e be
twee
n th
e C
ompa
ny o
f one
par
t and
the
said
Naz
im S
heik
h of
the
othe
r par
t whi
ch d
raft
is a
vaila
ble
for i
nspe
ctio
n by
the
mem
bers
at t
he R
egis
tere
d O
ffic
e of
the
Com
pany
and
in
itial
ed b
y th
e C
ompa
ny S
ecre
tary
& C
hief
Gen
eral
M
anag
er (
Min
es)
for
the
sake
of
iden
tific
atio
n an
d th
e te
rms
ther
eof
here
by a
ppro
ved,
with
lib
erty
to
the
Boar
d (w
hich
ter
m s
hall
be d
eem
ed t
o in
clud
e an
y C
omm
ittee
con
stitu
ted/
to
be c
onst
itute
d by
the
Bo
ard)
fro
m t
ime
to t
ime,
to
alte
r th
e sa
id t
erm
s an
d co
nditi
ons,
incl
udin
g th
e de
sign
atio
n, in
suc
h m
anne
r as
may
be
agre
ed t
o be
twee
n th
e C
ompa
ny a
nd t
he
said
Naz
im S
heik
h, in
the
best
inte
rest
of t
he C
ompa
ny,
and
as m
ay b
e pe
rmis
sibl
e at
law
and
the
sta
mpe
d en
gros
smen
ts
of
the
said
ag
reem
ent
in
dupl
icat
e w
ith m
odifi
catio
ns t
here
of,
if an
y, a
s af
ores
aid
whe
n fin
alis
ed, b
e ex
ecut
ed in
the
man
ner a
utho
rised
by
the
Art
icle
s of
Ass
ocia
tion
of t
he C
ompa
ny.”
C
. Re
-app
oint
men
t of
S.
H.
Moh
an a
s Ex
ecut
ive
Dire
ctor
(P
roje
cts)
:
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ions
19
6,
197,
20
3 an
d ot
her
appl
icab
le
prov
isio
ns,
if an
y, o
f th
e C
ompa
nies
Act
, 20
13 a
nd
Sche
dule
V
th
eret
o an
d al
l ap
plic
able
gu
idel
ines
fo
r m
anag
eria
l re
mun
erat
ion
issu
ed b
y th
e C
entr
al
Gov
ernm
ent
from
tim
e to
tim
e, a
nd s
ubje
ct t
o su
ch
othe
r ap
prov
als
as
may
be
re
quire
d,
cons
ent
of
the
Com
pany
be
and
is h
ereb
y ac
cord
ed t
o th
e re
-ap
poin
tmen
t of
S.
H.
Moh
an a
s Ex
ecut
ive
Dire
ctor
(P
roje
cts)
for
a p
erio
d of
thr
ee y
ears
with
eff
ect
from
1
Apr
il 20
14 u
pon
term
s an
d co
nditi
ons,
inc
ludi
ng
rem
uner
atio
n an
d ot
herw
ise,
as
cont
aine
d in
the
dra
ft
of a
n ag
reem
ent
expr
esse
d to
be
mad
e be
twee
n th
e C
ompa
ny o
f on
e pa
rt a
nd t
he s
aid
S. H
. Moh
an o
f th
e ot
her p
art w
hich
dra
ft is
ava
ilabl
e fo
r ins
pect
ion
by th
e m
embe
rs a
t the
Reg
iste
red
Off
ice
of th
e C
ompa
ny a
nd
initi
aled
by
the
Com
pany
Sec
reta
ry &
Chi
ef G
ener
al
Man
ager
(M
ines
) fo
r th
e sa
ke o
f id
entif
icat
ion
and
the
term
s th
ereo
f he
reby
app
rove
d, w
ith l
iber
ty t
o th
e Bo
ard
(whi
ch t
erm
sha
ll be
dee
med
to
incl
ude
any
Com
mitt
ee c
onst
itute
d /
to b
e co
nstit
uted
by
the
Boar
d) f
rom
tim
e to
tim
e, t
o al
ter
the
said
ter
ms
and
cond
ition
s, in
clud
ing
the
desi
gnat
ion,
in s
uch
man
ner
as m
ay b
e ag
reed
to
betw
een
the
Com
pany
and
the
sa
id S
. H. M
ohan
, in
the
best
inte
rest
of t
he C
ompa
ny,
and
as m
ay b
e pe
rmis
sibl
e at
law
and
the
sta
mpe
d en
gros
smen
ts
of
the
said
ag
reem
ent
in
dupl
icat
e w
ith m
odifi
catio
n th
ereo
f, i
f an
y, a
s af
ores
aid
whe
n fin
alis
ed, b
e ex
ecut
ed in
the
man
ner a
utho
rised
by
the
Art
icle
s of
Ass
ocia
tion
of t
he C
ompa
ny.”
D
. Re
-app
oint
men
t of
S.
R. S
ridha
r as
Exe
cutiv
e D
irect
or
(Min
es):
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ions
19
6,
197,
20
3 an
d ot
her
appl
icab
le
prov
isio
ns,
if an
y, o
f th
e C
ompa
nies
Act
, 20
13 a
nd
Sche
dule
V
th
eret
o an
d al
l ap
plic
able
gu
idel
ines
fo
r m
anag
eria
l re
mun
erat
ion
issu
ed b
y th
e C
entr
al
Gov
ernm
ent
from
tim
e to
tim
e an
d su
bjec
t to
suc
h ot
her
appr
oval
s as
m
ay
be
requ
ired,
co
nsen
t of
th
e C
ompa
ny b
e an
d is
her
eby
acco
rded
to
the
re-
appo
intm
ent
of S
. R.
Srid
har
as E
xecu
tive
Dire
ctor
(M
ines
) fo
r a
perio
d of
thr
ee y
ears
with
eff
ect
from
1
Apr
il 20
14 u
pon
term
s an
d co
nditi
ons,
inc
ludi
ng
rem
uner
atio
n an
d ot
herw
ise,
as
cont
aine
d in
the
dra
ft
of a
n ag
reem
ent
expr
esse
d to
be
mad
e be
twee
n th
e C
ompa
ny o
f on
e pa
rt a
nd t
he s
aid
S .R
. Srid
har
of t
he
othe
r par
t whi
ch d
raft
is a
vaila
ble
for i
nspe
ctio
n by
the
mem
bers
at t
he R
egis
tere
d O
ffic
e of
the
Com
pany
and
in
itial
ed b
y th
e C
ompa
ny S
ecre
tary
& C
hief
Gen
eral
M
anag
er (
Min
es)
for
the
sake
of
iden
tific
atio
n an
d th
e te
rms
ther
eof
here
by a
ppro
ved,
with
lib
erty
to
the
Boar
d (w
hich
ter
m s
hall
be d
eem
ed t
o in
clud
e an
y C
omm
ittee
con
stitu
ted
/ to
be
cons
titut
ed b
y th
e Bo
ard)
fro
m t
ime
to t
ime,
to
alte
r th
e sa
id t
erm
s an
d co
nditi
ons,
incl
udin
g th
e de
sign
atio
n, in
suc
h m
anne
r as
may
be
agre
ed t
o be
twee
n th
e C
ompa
ny a
nd t
he
said
S. R
. Srid
har,
in t
he b
est
inte
rest
of
the
Com
pany
, an
d as
may
be
perm
issi
ble
at l
aw a
nd t
he s
tam
ped
engr
ossm
ents
of
th
e sa
id
agre
emen
t in
du
plic
ate
with
mod
ifica
tion
ther
eof,
if
any,
as
afor
esai
d w
hen
final
ised
, be
exec
uted
in th
e m
anne
r aut
horis
ed b
y th
e A
rtic
les
of A
ssoc
iatio
n of
the
Com
pany
.”
E.
Re
-app
oint
men
t of
U
. R.
A
char
ya
as
Dire
ctor
(C
omm
erci
al):
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ions
196
, 197
, 203
and
oth
er a
pplic
able
pro
visi
ons,
if
any,
of
the
Com
pani
es A
ct,
2013
and
Sch
edul
e V
th
eret
o an
d al
l ap
plic
able
gui
delin
es f
or m
anag
eria
l re
mun
erat
ion
issu
ed b
y th
e C
entr
al G
over
nmen
t fr
om
time
to t
ime
and
subj
ect
to s
uch
othe
r ap
prov
als
as
may
be
requ
ired,
con
sent
of
the
Com
pany
be
and
is h
ereb
y ac
cord
ed t
o th
e re
-app
oint
men
t of
U.
R.
Ach
arya
as
D
irect
or
(Com
mer
cial
) fo
r a
perio
d of
th
ree
year
s w
ith e
ffec
t fr
om 1
Apr
il 20
14 u
pon
the
term
s an
d co
nditi
ons,
in
clud
ing
rem
uner
atio
n an
d ot
herw
ise,
as
cont
aine
d in
the
dra
ft o
f an
agr
eem
ent
expr
esse
d to
be
mad
e be
twee
n th
e C
ompa
ny o
f th
e on
e pa
rt a
nd t
he s
aid
U.
R. A
char
ya o
f th
e ot
her
part
whi
ch d
raft
is
avai
labl
e fo
r in
spec
tion
by t
he
mem
bers
at t
he R
egis
tere
d O
ffic
e of
the
Com
pany
and
in
itial
ed b
y th
e C
ompa
ny S
ecre
tary
& C
hief
Gen
eral
M
anag
er (
Min
es)
for
the
sake
of
iden
tific
atio
n an
d th
e te
rms
ther
eof
here
by a
ppro
ved,
with
lib
erty
to
the
Boar
d (w
hich
ter
m s
hall
be d
eem
ed t
o in
clud
e an
y C
omm
ittee
con
stitu
ted
/ to
be
cons
titut
ed b
y th
e Bo
ard)
fro
m t
ime
to t
ime,
to
alte
r th
e sa
id t
erm
s an
d co
nditi
ons,
incl
udin
g th
e de
sign
atio
n, in
suc
h m
anne
r as
may
be
agre
ed t
o be
twee
n th
e C
ompa
ny a
nd t
he
said
U. R
. Ach
arya
, in
the
best
inte
rest
of t
he C
ompa
ny
and
as m
ay b
e pe
rmis
sibl
e at
law
and
the
sta
mpe
d en
gros
smen
ts
of
the
said
ag
reem
ent
in
dupl
icat
e w
ith m
odifi
catio
ns t
here
of,
if an
y, a
s af
ores
aid
whe
n fin
alis
ed, b
e ex
ecut
ed in
the
man
ner a
utho
rised
by
the
Art
icle
s of
Ass
ocia
tion
of t
he C
ompa
ny.”
F.
R
e-ap
poin
tmen
t of
K. R
aman
as
Dire
ctor
(Fin
ance
):
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ions
196
, 197
, 203
and
oth
er a
pplic
able
pro
visi
ons,
if
any,
of
the
Com
pani
es A
ct,
2013
and
Sch
edul
e V
th
eret
o an
d al
l ap
plic
able
gui
delin
es f
or m
anag
eria
l re
mun
erat
ion
issu
ed b
y th
e C
entr
al G
over
nmen
t fr
om
time
to ti
me
and
subj
ect t
o su
ch o
ther
app
rova
ls a
s may
be
requ
ired,
con
sent
of t
he C
ompa
ny b
e an
d is
her
eby
acco
rded
to th
e re
-app
oint
men
t of K
. Ram
an a
s Dire
ctor
(F
inan
ce)
for
a pe
riod
of t
hree
yea
rs w
ith e
ffec
t fr
om
1 A
pril
2014
upo
n th
e te
rms
and
cond
ition
s, in
clud
ing
rem
uner
atio
n an
d ot
herw
ise,
as
cont
aine
d in
the
dra
ft
of a
n ag
reem
ent
expr
esse
d to
be
mad
e be
twee
n th
e C
ompa
ny o
f the
one
par
t and
the
said
K. R
aman
of t
he
othe
r par
t whi
ch d
raft
is a
vaila
ble
for i
nspe
ctio
n by
the
mem
bers
at t
he R
egis
tere
d O
ffic
e of
the
Com
pany
and
in
itial
ed b
y th
e C
ompa
ny S
ecre
tary
& C
hief
Gen
eral
M
anag
er (
Min
es)
for
the
sake
of
iden
tific
atio
n an
d th
e te
rms
ther
eof
here
by a
ppro
ved,
with
lib
erty
to
the
Boar
d (w
hich
ter
m s
hall
be d
eem
ed t
o in
clud
e an
y C
omm
ittee
con
stitu
ted
/ to
be
cons
titut
ed b
y th
e Bo
ard)
fro
m t
ime
to t
ime,
to
alte
r th
e sa
id t
erm
s an
d co
nditi
ons,
incl
udin
g th
e de
sign
atio
n, in
suc
h m
anne
r as
may
be
agre
ed t
o be
twee
n th
e C
ompa
ny a
nd t
he
said
K.
Ram
an,
in t
he b
est
inte
rest
of
the
Com
pany
an
d as
may
be
perm
issi
ble
at l
aw a
nd t
he s
tam
ped
engr
ossm
ents
of
th
e sa
id
agre
emen
t in
du
plic
ate
with
mod
ifica
tions
the
reof
, if
any,
as
afor
esai
d w
hen
final
ised
, be
exec
uted
in th
e m
anne
r aut
horis
ed b
y th
e A
rtic
les
of A
ssoc
iatio
n of
the
Com
pany
.”
G
. M
akin
g in
vest
men
ts a
nd g
ivin
g lo
ans
to J
ayaa
laxm
i M
iner
al P
rivat
e Li
mite
d:
10
A
nnua
l Rep
ort
2013
-14
The
Sand
ur M
anga
nese
& Ir
on O
res
Lim
ited
11
-
“RES
OLV
ED
THA
T pu
rsua
nt
to
the
prov
isio
ns
of
Sect
ion
186
and
othe
r ap
plic
able
pro
visi
ons,
if a
ny, o
f th
e C
ompa
nies
Act
201
3, c
onse
nt o
f th
e m
embe
rs o
f th
e C
ompa
ny b
e an
d is
her
eby
acco
rded
to
the
Boar
d of
Dire
ctor
s (h
erei
naft
er r
efer
red
to a
s “t
he B
oard
” w
hich
ter
m s
hall
be d
eem
ed t
o in
clud
e C
omm
ittee
(s)
of t
he B
oard
of
Dire
ctor
s or
per
sons
aut
horis
ed b
y th
e Bo
ard
of D
irect
ors)
to
mak
e in
vest
men
ts i
n an
d gi
ve
loan
s to
Jay
aala
xmi M
iner
al P
rivat
e Li
mite
d (J
MPL
) of
a su
m n
ot e
xcee
ding
H32
cro
re, i
n on
e or
mor
e tr
anch
es
and
take
ove
r 76
% s
take
in
JMPL
, no
twith
stan
ding
th
at s
uch
inve
stm
ent o
r suc
h in
vest
men
t tog
ethe
r with
th
e co
mpa
ny’s
exi
stin
g in
vest
men
t in
all
othe
r bo
dies
co
rpor
ate
shal
l be
in
exce
ss o
f th
e lim
its p
resc
ribed
un
der
Sect
ion
186
of t
he A
ct.
“RES
OLV
ED F
URT
HER
TH
AT
the
afor
esai
d pr
opos
ed
tran
sact
ion
shal
l be
in a
dditi
on to
the
pres
ent e
xpos
ure
of t
he C
ompa
ny b
y w
ay o
f lo
ans
mad
e, g
uara
ntee
s gi
ven,
sec
uriti
es p
rovi
ded
and
/ or
inv
estm
ents
mad
e by
the
Com
pany
and
app
rova
ls o
btai
ned
for
such
pu
rpos
e.”
“RES
OLV
ED F
URT
HER
TH
AT
the
afor
esai
d in
vest
men
t be
mad
e by
the
Com
pany
out
of
inte
rnal
res
ourc
es o
r in
suc
h ot
her
man
ner
as t
he B
oard
thi
nks
appr
opria
te
and
the
Boar
d be
and
is h
ereb
y au
thor
ised
to
final
ise
term
s of
th
e af
ores
aid
tran
sact
ions
an
d to
se
ttle
an
y qu
estio
n or
dou
bt a
nd t
o ex
ecut
e su
ch d
eeds
, ag
reem
ents
, do
cum
ents
and
writ
ings
and
do
all s
uch
acts
, m
atte
rs,
deed
s an
d th
ings
as
may
be
nece
ssar
y or
des
irabl
e to
impl
emen
t th
is r
esol
utio
n or
oth
erw
ise
cons
ider
ed b
y th
e Bo
ard
to b
e in
the
bes
t in
tere
sts
of
the
Com
pany
.”
NO
TES
1.
A M
EMBE
R EN
TITL
ED T
O A
TTEN
D A
ND
VO
TE A
T TH
E M
EETI
NG
IS
ENTI
TLED
TO
APP
OIN
T A
PRO
XY
TO A
TTEN
D
AN
D V
OTE
ON
A P
OLL
AN
D S
UCH
PRO
XY
NEE
D N
OT
BE
A M
EMBE
R O
F TH
E CO
MPA
NY.
A
PER
SON
CA
N A
CT A
S PR
OX
Y O
N B
EHA
LF O
F M
EMBE
RS N
OT
EXCE
EDIN
G F
IFTY
A
ND
HO
LDIN
G IN
TH
E A
GG
REG
ATE
NO
T M
ORE
TH
AN
TEN
PE
RCEN
T O
F TH
E TO
TAL
SHA
RE C
API
TAL
OF
THE
COM
PAN
Y.
IN O
RDER
TO
BE
EFFE
CTIV
E TH
E PR
OX
IES
SHO
ULD
BE
RECE
IVED
BY
THE
COM
PAN
Y A
T IT
S RE
GIS
TERE
D O
FFIC
E N
OT
LESS
TH
AN
48
HO
URS
BEF
ORE
TH
E M
EETI
NG
.
2.
In p
ursu
ance
of c
laus
e 49
[IV(E
)(1)]
of th
e Li
stin
g A
gree
men
ts
with
the
Sto
ck E
xcha
nges
brie
f par
ticul
ars
of d
irect
ors
who
ar
e pr
opos
ed t
o be
re-
appo
inte
d ar
e pr
ovid
ed h
erei
n.
3.
Purs
uant
to
the
prov
isio
ns o
f Se
ctio
n 91
of
the
Com
pani
es
Act
, 20
13 a
nd C
laus
e 16
of
the
List
ing
Agr
eem
ents
with
St
ock
Exch
ange
s,
the
Regi
ster
of
M
embe
rs
and
Shar
e Tr
ansf
er
Book
s of
th
e Co
mpa
ny
will
be
cl
osed
fr
om
Satu
rday
, 20
th
Sep
tem
ber
20
14
to
Satu
rday
, 27
th
Sep
tem
ber
201
4 (b
oth
day
s in
clus
ive)
.
4.
Mem
bers
hol
ding
sha
res
in p
hysi
cal f
orm
and
des
irous
of
avai
ling
Elec
tron
ic C
lear
ance
Ser
vice
(EC
S) f
or d
irect
cre
dit
of d
ivid
end
to t
heir
bank
acc
ount
are
req
uest
ed t
o pr
ovid
e th
eir b
ank
deta
ils in
the
Elec
tron
ic C
lear
ing
Serv
ice
Man
date
. In
res
pect
of s
hare
hold
ers
hold
ing
shar
es in
dem
ater
ialis
ed
form
, ban
k de
tails
as
furn
ishe
d by
thei
r Dep
osito
ries
will
be
used
for
dis
trib
utio
n of
div
iden
d th
roug
h EC
S.
5.
Mem
bers
are
req
uest
ed t
o qu
ote
thei
r Fo
lio N
umbe
r /
Clie
nt I
D,
in a
ll co
rres
pond
ence
and
int
imat
e an
y ch
ange
in
the
ir ad
dres
s to
the
Sha
re T
rans
fer
Age
nt /
Dep
osito
ries
prom
ptly
.
6.
In li
ne w
ith th
e M
inis
try o
f Cor
pora
te A
ffai
rs’ ‘
Gre
en In
itiat
ive
in t
he C
orpo
rate
Gov
erna
nce’
, the
Com
pany
is s
endi
ng t
he
Ann
ual R
epor
t el
ectr
onic
ally
on
emai
l add
ress
es r
egis
tere
d w
ith
the
Dep
osito
ries
/ th
e Co
mpa
ny’s
Sh
are
Tran
sfer
A
gent
. Fo
r ot
hers
, th
e Co
mpa
ny w
ill c
ontin
ue t
o se
nd t
he
prin
ted
Ann
ual R
epor
ts a
s us
ual.
Shar
ehol
ders
wis
hing
to
rece
ive
the
Ann
ual R
epor
t in
elec
tron
ic m
ode
are
requ
este
d to
pro
vide
the
ir em
ail
addr
ess
to t
he C
ompa
ny’s
Sha
re
Tran
sfer
Age
nt.
7.
The
uncl
aim
ed d
ivid
ends
as
deta
iled
belo
w,
if re
mai
ning
un
clai
med
for
7 y
ears
fro
m t
he d
ate
of d
ecla
ratio
n, a
re
requ
ired
to b
e tr
ansf
erre
d by
the
Com
pany
to
Inve
stor
s’
Educ
atio
n an
d Pr
otec
tion
Fund
(IEP
F) a
nd t
he r
elev
ant
due
date
s fo
r tr
ansf
er o
f su
ch a
mou
nts
are
as u
nder
:
Fina
ncia
l Yea
r
Unc
laim
ed
Div
iden
d a
s on
9 A
ugus
t 20
14 (
in H
)
Dat
e of
d
ecla
rati
on
Due
dat
e fo
r tr
ansf
er t
o IE
PF
2008
-09
(Inte
rim
divi
dend
)1,
33,4
80.5
029
Jan
uary
20
0928
Feb
ruar
y 20
16
2008
-09
(Fin
al d
ivid
end)
1,41
,130
.50
25 S
epte
mbe
r 20
0924
Oct
ober
20
16
2009
-10
1,48
,830
.00
29 S
epte
mbe
r 20
1028
Oct
ober
20
17
2010
-11
2,91
,125
.00
10 S
epte
mbe
r 20
1109
Oct
ober
20
18
Fu
rthe
r, 51
,513
16%
‘B’ s
erie
s Red
eem
able
Pre
fere
nce
Shar
es
of H
100/
- eac
h w
ere
rede
emed
at p
ar w
ith a
ccru
ed d
ivid
end
on 2
8 A
pril
2008
. A
s on
9 A
ugus
t 20
14,
the
bala
nce
in
the
No
Lien
Acc
ount
ope
ned
for
the
purp
ose
of t
he s
aid
rede
mpt
ion
was
H1,
75,1
98.6
3/-.
The
uncl
aim
ed a
mou
nt, i
f an
y, is
due
to b
e tr
ansf
erre
d to
IEPF
on
27 M
ay 2
015.
8.
Vot
ing
thro
ugh
elec
tron
ic m
eans
:
In
com
plia
nce
with
pr
ovis
ions
of
Se
ctio
n 10
8 of
th
e Co
mpa
nies
Act
, 20
13 a
nd R
ule
20 o
f th
e Co
mpa
nies
(M
anag
emen
t an
d A
dmin
istr
atio
n) R
ules
, 20
14 a
nd t
he
List
ing
Agr
eem
ents
with
the
Stoc
k Ex
chan
ges,
the
Com
pany
is
ple
ased
to
prov
ide
its m
embe
rs f
acili
ty t
o ex
erci
se t
heir
right
to
vote
at
the
60th
Ann
ual G
ener
al M
eetin
g (A
GM
) by
ele
ctro
nic
mea
ns t
hrou
gh e
-vot
ing
Serv
ices
pro
vide
d by
N
atio
nal
Secu
ritie
s D
epos
itory
Li
mite
d (N
SDL)
: Th
e in
stru
ctio
ns f
or e
-vot
ing
are
as u
nder
:
a.
Lo
g on
to
the
e-vo
ting
web
site
: w
ww
.evo
ting.
nsdl
.co
m a
nd C
lick
on ‘S
hare
hold
er-lo
gin’
.
b.
En
ter
follo
win
g de
tails
in
the
appr
opria
te b
oxes
and
cl
ick
“SU
BMIT
”:
Det
ails
Use
r ID
For
NSD
L -
8 ch
arac
ters
DP
ID +
8 d
igits
de
mat
Clie
nt ID
.
For
CDSL
- 1
6 di
gits
Ben
efic
ial O
wne
r ID
.
For
Phys
ical
- R
egis
tere
d Fo
lio N
umbe
r w
ith t
he C
ompa
ny.
Pass
wor
dYo
ur u
niqu
e pa
ssw
ord
is e
ither
pas
ted
as a
st
icke
r in
the
Ann
ual R
epor
t or
will
be
sent
by
em
ail b
y N
SDL/
STA
.
c.
A
fter
logg
ing
in th
e af
ores
aid
deta
ils. t
he S
hare
hold
ers
hold
ing
shar
es in
phy
sica
l for
m w
ill b
e di
rect
ed t
o th
e vo
ting
scre
en
imm
edia
tely
. H
owev
er,
Shar
ehol
ders
ho
ldin
g sh
ares
in d
emat
logg
ing
in f
or t
he f
irst
time,
w
ill b
e re
quire
d to
man
dato
rily
chan
ge t
heir
pass
wor
d in
the
new
pas
swor
d fie
ld a
nd m
ay c
hoos
e to
ent
er
thei
r de
mog
raph
ic d
etai
ls i
.e.
date
of
birt
h, m
obile
nu
mbe
r an
d em
ail
id.
Chan
ge t
he p
assw
ord
with
ne
w p
assw
ord
of y
our
choi
ce w
ith m
inim
um 8
dig
its/
char
acte
rs o
r co
mbi
natio
ns t
here
of.
The
shar
ehol
ders
ar
e ad
vise
d to
rem
embe
r th
e ne
w p
assw
ord.
The
new
pa
ssw
ord
can
be u
sed
for
votin
g on
fut
ure
e-vo
ting
reso
lutio
n(s)
for
‘Th
e Sa
ndur
Man
gane
se &
Iro
n O
res
Lim
ited’
or
any
othe
r co
mpa
ny in
Indi
a.
d.
H
ome
page
of
“e-v
otin
g” o
pens
. Clic
k on
“e-
votin
g”:-
A
ctiv
e V
otin
g Cy
cles
. Se
lect
the
“El
ectr
onic
Vot
ing
Even
t N
umbe
r” (E
VEN
) of t
he ‘T
he S
andu
r Man
gane
se
& Ir
on O
res
Lim
ited’
.
e.
N
ow y
ou a
re r
eady
for
“e-v
otin
g” a
s “C
ast
Vot
e” p
age
open
s. C
ast
your
vot
e by
sel
ectin
g th
e ap
prop
riate
op
tion
and
clic
k on
“Su
bmit”
and
als
o “C
onfir
m”
whe
n pr
ompt
ed.
f.
O
nce
you
have
vot
ed o
n a
reso
lutio
n, y
ou w
ill n
ot b
e al
low
ed t
o m
odify
you
r vo
te.
g.
Yo
u ca
n lo
g in
for
any
num
ber
of t
imes
till
you
hav
e vo
ted
on a
ll re
solu
tions
dur
ing
the
e-vo
ting
perio
d 18
Se
ptem
ber
2014
to
20 S
epte
mbe
r 20
14 o
r til
l the
end
of
vot
ing
perio
d i.e
., 20
Sep
tem
ber
2014
whi
chev
er is
ea
rlier
.
h.
In
stitu
tiona
l Sh
areh
olde
rs (
i.e.
othe
r th
an i
ndiv
idua
ls,
HU
F, N
RI e
tc.)
are
requ
ired
to s
end
scan
ned
copy
(P
DF
/ JP
G F
orm
at)
of t
he r
elev
ant
boar
d re
solu
tion
/ au
thor
ity l
ette
r et
c. t
oget
her
with
att
este
d sp
ecim
en
sign
atur
e of
the
duly
aut
horis
ed s
igna
tory
(ies)
who
are
au
thor
ised
to