PTC INDIA Share price

OUR HISTORYIncorporation & Initial Progress1. Incorporation:We were incorporated on April 16 1999 under the Companies Act 1956and received certificate of commencement of business on July 15 1999.100% of the initial contribution to our capital of Rs 600 lacs was madeby POWERGRID NTPC and PFC and the balance by individuals (Rs. 100).Board of DirectorsOur Company is currently managed by a Board of Directors comprising 12Directors. Shri T. N.Thakur is currently our Chairman and ManagingDirector.Article 111 of our AoA provides that the Board of Directors of theCompany shall consist of not less than 3 directors and a maximum of 15Directors. A person need not hold any qualification shares to becomeDirector. The Chairman/Chairman & Managing Director the ManagingDirector and any other Whole-time Director(s) shall be appointed by theGeneral body in accordance with the provisions of the Act. Not lessthan two third of the total number of Directors shall be liable toretire by rotation in accordance with the provisions of section 256 and257 of the Act and shall be eligible for reappointment.As per Article 113 of our AOA every block of minimum 10% shareholdingby any shareholder/ group of shareholders shall entitle it to nominateone part-time Director on the Board of the Company. It also providesthat not withstanding anything to the contrary contained in theseArticles the Board of Directors shall include at least one nomineedirector each from POWERGRID NTPC PFC and NHPC and one nomineeDirector by the Government of India Ministry of Power.Brief Profile of the DirectorsShri Tantra Narayan Thakur - Chairman & Managing DirectorShri T. N. Thakur is presently posted as Chairman & Managing Directorof the Power Trading Corporation of India Ltd. (PTC); his parent cadreis Indian Accounts and Audit Services. Prior to joining PTC he wasassociated with PFC as Director (Finance & Financial Operations). Hewas the Chief Financial Officer at the Board level responsible formanaging the entire financial systems of the company. On severaloccasions during this period he was invited as resource person in theEuro money conferences and other such seminars.Shri Thakur has over 27 years of extensive experience as a member ofthe Indian Audit & Accounts Service in Treasury Management FinancialManagement (including Resource Mobilisation Investment decisions andAppraisal of Projects for Project lending) Accounts Cash ManagementBudgeting and Budgetary Control Human Resource Management etc.After a two-year training in Financial Management Accounting andAudit he worked for seven years in the offices of the AccountantsGeneral of three states in India for four years in the Office of theComptroller and Auditor General of India for three years as DeputySecretary/Director in the Government of India for one year asSecretary to Chief Minister of Bihar for five years as PrincipalDirector of Audit under the Comptroller & Auditor General of India andmore than five years in the immediate past assignment.He was deputed to the United Nations High Commissioner for Refugees(UNHCR) at Geneva for 12 weeks in two spells during 1994-95 for auditof that organisation on behalf of the United Nations Board of Auditors.The audit exercise was more oriented towards performance and systemsreview and was greatly appreciated by the UN Board of Auditors.As Principal Director of Audit Scientific Departments he madeinnovative and significant contributions on evaluation of research anddevelopment activities and it was in recognition of his efforts that hewas invited to make a presentation at the Indian National ScienceCongress in January 1994 on "Public Accountability of Science andTechnology.Shri Sudhindra Kumar Dube - DirectorShri S. K. Dube on his appointment as whole time Director assumedcharge as Director (Operations) on December 02 2002. He is ondeputation to PTC from Powergrid. He has been on the Board of Directorsof PTC from August 26 2000 as nominee Director of one of the promotercompany viz POWERGRID.After graduation in Electrical Engineering in year 1969 from JadavpurUniversity Calcutta he served with Bokaro Steel & MECON for 6 yearsfollowed by 4 years in private sector. Thereafter he joined NTPC in1980 and was associated with the Farakka Project & its evacuationsystem. He joined POWERGRID in 1991 and has held various responsiblepositions in Project Construction Operation & Maintenance OperationServices Commercial etc.He played a leading role in standardisation of Operation & Maintenanceprocedures/manuals in 1994-96 that facilitated ISO-9001 certificationof POWERGRID. Some of his major achievements are construction &commissioning of 400 KV Uri Transmission system in Kashmir Valley underadverse conditions ahead of commissioning of Uri H.E.P (480 MW) ofNational Hydro Electric Power Corporation and commissioning of 800 KVKishanpur-Moga the first such transmission line in the country. He wasinvolved in the negotiation and signing of the first PPA of PTC withSWS Ltd. for 750 MW Hydro Power Projects at West Seti in Nepal.A Fellow of Institution of Engineers (India) he has published papersin International Conference on " Condition Monitoring of Sub-stationEquipments". He is also a member of CIGRE an International Council onLarge Electric Systems.Shri Mahendra Kumar - DirectorShri Mahendra Kumar on his appointment as Whole-time Director assumedcharge as Director (Business Development) on December 02 2002. He ison deputation to PTC from Powergrid. Shri Mahendra Kumar was earlierExecutive Vice President (Business Development) with PTC. Prior tothat he has worked with NTPC & POWERGRID in key positions and alsowith GRIDCO Orissa as its Director (Commercial). At POWERGRID heheld areas of responsibilities in tariff policy matters fixation oftariff revenue realisation dispute resolution and CEA/MOP/CERCapprovals. At GRIDCO he was responsible for power planning tradingcommercial matters system operations generation planning interactionwith external agencies and other Board level functions. He has workedin various capacities in UPSEB NHPC and NTPC with assignments likeProject Planning Feasibility Study Design Contracts ConstructionOperations and Maintenance etc.. He has to his credit the achievementin voltage control in southern and eastern regions through MVARmanagement.He is a graduate in Electrical Engineering from the University ofRoorkee (now IIT Roorkee) and has experience of over 31 years in theareas of Project Planning Operation & Maintenance of TransmissionSystems formulation of tariffs for generation and in promotion of apower trading market. Shri Kumar is a Fellow member of The Institute ofEngineers (India) and a member of CIGRE France.Shri Ramanathan Krishnamoorthy - DirectorShri R. Krishnamoorthy represents one of the promoter companies viz.Power Finance Corporation Ltd where he holds charge as Director(Finance & Financial Operations). Shri Krishnamoorthy holds a B.ScDegree from the University of Madras in Mathematics. He has alsoqualified as SAS (Commercial) of Indian Audit & Accounts Deptt. and is a Fellow member of the Institute of Cost & Works Accountant of India.Having joined PFC in its initial year of incorporation 12 years agohe has held various important positions in PFC and had the uniqueopportunity of having handled all the facets of finance & financialoperations of PFC.He started his career in the Indian Audit and Accounts Deptt. where hewas associated with audit of Petroleum Refinery and Oil MarketingCompanies in Southern region covering Indian Oil Corporation HPCLBPCL Madras (Chennai) Refineries Ltd. Cochin Refineries Ltd. etc. Hehas also worked in a mineral exploration organization for a briefperiod of about 3 years. Before joining PTC he worked with NHPC forover 10 years and was instrumental in establishing the CorporatePlanning and Cost Engineering Services Unit.Shri Krishnamoorthy is member of various Committees and possesses arich experience in the working of power sector. He was a member of theTask Force constituted by the Government of Karnataka for Power SectorReforms in the State. He is a member of the Advisory Council of theProject Management Institute of NTPC Noida and of the Institute ofChartered Financial Analysts of India Gurgaon.Shri Ram Dayal Gupta - DirectorShri R. D. Gupta represents one of the promoter companies NationalThermal Power Corporation Ltd. (NTPC) where he holds charge asDirector (Commercial). He is a graduate in Mechanical Engineering fromUniversity of Jodhpur and a Masters in Business Administration fromIGNOU. He is a Member of the State Advisory Committee Punjab StateElectricity Regulatory Commission and a Fellow member of the Instituteof Engineers (India). His work experience includes working withregulatory agencies for evolution of regulatory framework interactingwith CERC on all matters of policy and procedural aspects of regulatorycompliance formulation of contractual framework for sale of powerthrough PPAs with SEBs/Power Utilities etc. He has also madesignificant contribution in the formulation of the Electricity Act2003. Out of his total experience of more than 36 years he has workedfor about 25 years with NTPC and about 11 years with CentralElectricity Authority.At NTPC he has headed two of the largest regions viz. Western Regionand National Capital Region providing effective leadership. He wasinstrumental in the commissioning of 500 MW units at Vindhyachal 12months ahead of schedule. At CEA he played a leading role for planningand forecasting of electricity scenarios of India and approvingcapacity addition/transmission projects.Shri J. Haque - DirectorMr. J. Haque represents one of the promoter companies POWERGRID wherehe holds charge as Executive Director (Operation Services) headingCorporate Operation Services. Mr. Haque holds a first class degree inMechanical Engineering and has worked in Central Power SectorUndertakings for over three decades since his graduation in 1969. Hehas been associated with the implementation and 0 & M of powergeneration/transmission project for more than two decades in POWERGRIDNTPC and National Aluminum Co. Ltd. He has handled responsibilities invarious functional areas like Corporate Planning Corporate ContractsInformation Technology Corporate Communication and Southern RegionTransmission System in the past.As head of Operation & Maintenance of Southern Region TransmissionSystem he has been responsible .for upkeep and efficient running ofupwards of 43000 Ckt. Kms of transmission lines and 27500 MVA oftransmission capacity. He has been responsible for the implementationand completion of several large & complex projects ahead of schedulesuch as Jeypore-Gajuwaka Transmission System prestigious HVDCback-to-back Terminal at vizag; Gas insulated Substation (GIS) atKayamkulam and Kayamkulam Transmission System Kaiga-Sirsi TransmissionSystem EMS/SCADA & Telecom Projects (SR).Shri Sudhir Singh Jamwal - DirectorShri S. S. Jamwal represents one of the promoter companies vizNational Hydroelectric Power Corporation Ltd. (NHPC) where he holdscharge as Executive Director (Contracts). He has rich and vastexperience in power sector. Presently he is working in the contractsdepartment and in the past too he had a significant role in theintegrated and efficient development of hydroelectric power in thecentral sector covering all aspects - investigation planning designconstruction operation and maintenance. He is a part-time Director inPower Trading Corporation of India Ltd. w.e.f. February 24 2003. Hejoined NHPC in December 1975 as Asst. Manager (Engineer). Beforejoining NHPC he had worked with Jammu & Kashmir Power DevelopmentDepartment for about 7 years where he had handled the work relating toerection testing commissioning and maintenance of Stage I and StageII of Chenani Hydroelectric Power Station in collaboration with GanzMavag Hungary. At NHPC he has handled work relating to theinstallation testing commissioning operation and maintenance ofnumber of power projects. As Executive Director NHPC he is in chargeof procurement and contracts services of NHPC at corporate office. Heis also controlling Liaison & Project Services Complex at Jammu andimport and liaison related activities at Mumbai.Shri F. A. Vandrevala - DirectorShri F. A. Vandrevala represents The Tata Power Company Ltd. where heholds charge as Managing Director. He has graduated in ElectricalEngineering (Hon) from IIT Kharagpur and subsequently earned a PostGraduate Diploma in Business Management from XLRI Jamshedpur. Mr.Vandrevala joined The Tata Power Company Ltd. on November 1 2001 asDy. Managing Director and was elevated to the present position fromSeptember 1 2002. Prior to joining TPC in a career spanning 29 yearsat Tata Steel Mr. Vandrevala has held several responsible positionsfrom being a Superintendent at the Company's Bar Forging Mill to beingExecutive Director (Marketing & Sales) on the Company's Board.He is also on the Board of several Tata Companies and the Chairman ofTata Teleservices Ltd. He has held various important positions inConfederation of Indian Industry (CII) and is presently the Chairman ofthe Western Region of CII. He is also a Member of many reputedProfessional Bodies.Shri Vinod Kumar Saxena - DirectorShri V. K. Saxena holds charge as Chief General Manager at IDBI andrepresents all the 5 Financial Institutions (viz. IDBI IFCI IDFC LICand GIC) on the Board. Mr. Saxena joined IDBI in 1978 directly as anOfficer. At present as a Chief General Manager he is in charge of theNorthern Zone. He is a nominee director on the Boards of a number ofassisted companies. He has Masters degree in Science (OrganicChemistry) and a Masters in Technology (Chemical Technology) fromLakshmi Narayan Institute of Technology Nagpur.Shri Khwaja Gholamul Husnain - DirectorShri K. G. Husnain represents the Damodar Valley Corporation where heholds charge as Director (Commercial). He is a part-time Director inPower Trading Corporation of India Ltd.. The Damodar Valley Corporationis a joint venture participation undertaken by the Central Governmentand the State Governments of West Bengal and Bihar (now Jharkhand) toparticipate jointly for the purpose of building the Damodar Valley.Shri Husnain joined DVC as an Asst. Engineer (Elec.) and was graduallypromoted to the post of Director (Commercial). He has been working withDVC for more than 38 years. As Director (Commercial) of DVC he dealswith the sale/purchase of power to/from different organizations tarifffixation revenue monitoring and allied activities.Shri Ranjeet Rae - DirectorShri Ranjeet Rae represents the Ministry of External Affairs (MEA)where he holds charge as Joint Secretary (Nepal & Bhutan). He holds aMasters Degree in Arts (Economics) and has been working with the IndianForeign Service since September 1980. He has been a career diplomatposted as first second and third secretary in Indian Mission at NewYork Kampala and Vienna respectively. He was also deputed to UNMission in Kosovo & United General Assembly.Shri Gireesh B. Pradhan - DirectorShri Gireesh B. Pradhan represents the Ministry of Power (MoP) where heholds charge as Joint Secretary. He holds a Masters Degree in Arts(History) from St. Stephen's College Delhi University Delhi MastersDegree in Public Administration from School of Public AdministrationCarleton University Canada and a Masters Degree in Military Sciencefrom National Defence College New Delhi.As a Joint Secretary MoP he is associated with dealing with Central &State sector transmission matter administrative matters relating toMoP including Central Electricity Authority matters relating toTraining and Research division of MoP etc. Prior to being Jt.Secretary MoP he has had the opportunity to work as Secretary to theHon'ble Speaker of Lok Sabha Indian Parliament Joint Secretary to thePresident of India Director President of India's Office Member ofMaharashtra State Electricity Board etc.