annual report & accounts 2012-13

WEST BENGAL STATE ELECTRICITY DISTRIBUTIONCOMPANY LIMITED

(A Government of West Bengal Enterprise)

ANNUAL REPORT & ACCOUNTS2012-13

Registered Office :Vidyut Bhavan, Sector-II, Block-DJ, Bidhannagar,

Kolkata-700 091

Powering West Bengal

WEST BENGAL STATE ELECTRICITYDISTRIBUTION COMPANY LIMITED


BOARD OF DIRECTORS

EXECUTIVE DIRECTORS NON-EXECUTIVE DIRECTORSNarayan Swaroop Nigam, IAS Malay Kumar De, IASChairman & Managing Director

Anirban Guha Hari Krishna Dwivedi, IASDirector (RT & IT)

Kalyan Kumar Ghosh Proshanto BanerjeeDirector (Finance)

Debidas Datta Sunil MitraDirector (Generation)

Tapan Kanti Rudra Rajat Kumar MajumderDirector (HR)

Ranjit Kumar Majumder Tapan Kumar MajumdarDirector (Distribution)

COMPANY SECRETARYP.K.Banerjee

STATUTORY AUDITORSMookherjee, Biswas & Pathak, Chartered Accountants

5 & 6, Fancy Lane, 5th Floor,Kolkata - 700 001

COST AUDITORBCD & Associates,

Cost Accountants,382, Jodhpur Park, Flat 4A, Kolkata - 700 068

BANKERSState Bank of India

Punjab National BankUco Bank

United Bank of India

REGISTERED OFFICEVidyut Bhavan,Sector II, Block-DJ,

Bidhannagar, Kolkata - 700 091Wesbsite : www.wbsedcl.in



Sl. Subject PageNo.

1 Chairmans Message 1-3

2 Notice Convening 6th Annual General Meeting 5

3 Directors Report 6-19

4 Annexure to Directors Report 20-22

5 Management Discussion and Analysis 23-43

6 Report on Corporate Governance 44-57

7 Comments of the Statutory Auditors and the58-64Managements reply thereon

8 Comments of C&AG 65-66

9 Compliance Certificate 67

10 Independent Auditors Report 68-77

11 Statement of Technical Particulars 78-80

12 Category wise sales in MU & No. of Consumers as on 31.03.2013 81

13 Balance Sheet 82

14 Statement of Profit and Loss 83

15 Cash Flow Statement 84

16 Significant Accounting Policies 85-91

17 Notes on Financial Statement 92-130

Contents



Vidyut Bhavan, Sector II, Block DJ, Bidhannagar, Kolkata-700 091

CHAIRMANS MESSAGE

Dear Shareholders,

Welcome to 6th Annual General Meeting of the Company.

Awards and Recognition

In a first of its kind, the grading exercise of distribution utilities was undertaken byrating agencies viz; ICRA and CARE along with the nodal agency, the Power FinanceCorporation Limited. The Ministry of Power released integrated ratings report of StateDiscoms in March, 2013. It covered 39 Discoms in 20 states. It is extremely gratifyingto inform you that your Company achieved second highest rating and was praised forits low dependence on the State Government for subsidy support.

Financial Performance

Your Company continued to register sustainable growth and performance during thefinancial year 2012-13.The total operating income of your Company for the financialyear 2012-13 increased by 23.68 % to 17417.10 crores from 14082.30 crores forthe previous year. The post tax profit increased by 11.21 % to 81.72 crores from

73.48 crores for the previous year.

Hydro Electric and Pumped Storage Schemes

In keeping with the renewed focus on developing the Countrys hydro power potential,your Company has placed greater impetus on hydro electric and pumped storageproposals in the 12th and 13th Plan Period. It has been estimated that there is apotential of conventional hydro power including canal falls up to 1500 MW and PumpedStorage type Hydro up to 4800 MW. Detailed survey have already been launched andDetailed Project Report (DPR) of Turga Pumped Storage Project (1000 MW) and BanduPumped Storage Project (900 MW) in Purulia are under preparation. In the DarjeelingDistrict DPR preparation activities are in the final stages of completion for TeestaIntermediate Stage and Teesta Low Dam Project. The two projects shall have acombined capacity of 165 MW.

ANNUAL REPORT & ACCOUNTS 2012-2013

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Rural Electrification

There are 37960 numbers of inhabited mouzas in West Bengal. Electrificationprogramme of 3930 mouzas containing BPL households were taken up under RGGVY(10th Plan).In the 11th plan, 24,784 mouzas in 14 Districts of West Bengal are beingenergized with nearly 23 lakh BPL connection under RGGVY programme. YourCompany is developing infrastructure for electrification programme in 10 Districts.For the remaining 4 Districts, the implementing Agencies are CPSUs. The targetedwork of installation of infrastructure by WBSEDCL is almost complete except in theDistricts of Coochbehar, South 24 Parganas and Birbhum. The work is being expeditedand it is expected that all the pending energisation work would be completed withinthe financial year 2013-14.

Under WBREP State Scheme, electrification of 8021 mouzas in 4 Districts of WestBengal has been targeted to provide around 6 lakh BPL connections. The work ofinstallation of infrastructure is almost complete barring some Mouzas. Pendingenergisation work would be completed within the financial year 2013-14.

The work under the scheme Sarba Griha Deep Prakalpa popularly known as SabarGhare Alo is continuing in full swing from Special Backward Region Grant Fund(BRGF). The scheme covers 28,214 inhabited mouzas of 11 backward Districtsespecially for BPL as well as APL households, Commercial and Industrialestablishments.

Your Company has also taken up electrification work in 39 mouzas under Mathurapur,Kultali, Gosaba and Pathar Pratima Block in Sunderban areas. Out of these 39 mouzas,energisation has been completed in 13 mouzas. Installation of infrastructure in another17 mouzas has been completed where mobilization of consumers and energisation isin hand.

Under Integrated Costal Zonal Management (ICZM) Project, your Company has takenup electrification work in 42 mouzas at Sagar Island with 100% grant (90% fromWorld Bank and 10% from Govt. of India). The entire work is expected to be completedby the end of the financial year 2013-14.

Distribution reforms

Presently, power distribution is being maintained through approximately 12,000 Kmof 33KV feeders, over 1,35,000 Km 11KV network covering 455 nos. 33/11 KV sub-stations having power transformer capacity of 6404 MVA. Over 1,25,00,000 consumersare being served through 164596 nos. of distribution transformers with aggregatecapacity over 7814 MVA. The LT network length is over 2,00,000 circuit Km.


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Creation of new infrastructure for reaching 100% households and associatedupgradation of existing system is being made through different Government fundedprojects like R-APDRP, RGGVY, WBREP, SDB, BRGF, NEF etc. apart from variousCompany funded projects.

R-APDRP Project

For reducing aggregate technical and commercial losses to 15%, the Company isimplementing a Union Government programme titled R-APDRP- Part A in 61 townsunder its licensed area. Power Finance Corporation of India is the nodal agency of theprogramme.

It is heartening to inform you that your Company is the first among the utilities tocomplete implementation of R-APDRP Part-A programme in all the 61 towns in June,2013.

At present, R-APDRP covers only towns and cities with a population of over 30,000.To maintain uniformity in operation, your Company is taking additional measures toimplement the same programme in other areas of West Bengal.

Looking Ahead

The power sector will continue to provide one of the biggest avenues to make significantcontribution towards the development of our countrys infrastructure. Your Companywill make all efforts and harness all resources to ensure sustainable growth and surgeahead to attain still better heights of performance.

I would like to express my thanks and appreciation to my esteemed colleagues on theBoard and to all employees of WBSEDCL for their support and guidance and to all ourstakeholders for reposing continued confidence in the performance of the Company.

Yours Sincerely,

(Narayan Swaroop Nigam)Chairman and Managing Director


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West Bengal State Electricity Distribution Company Limited(A Government of West Bengal Enterprise)

Vidyut Bhavan, Sector II, Block DJ, Bidhannagar, Kolkata-700 091

NOTICE OF 6TH ANNUAL GENERAL MEETING

NOTICE is hereby given that the 6th Annual General Meeting of the Members ofWest Bengal State Electricity Distribution Company Limited will be held atthe Registered office of the Company at Vidyut Bhavan, 7th Floor (Conference room)Sector II, Block DJ, Bidhannagar, Kolkata-700 091 on Monday, the 23rd September,2013 at 4 p.m. for the transaction of the following businesses:

ORDINARY BUSINESS1. To receive, consider and adopt the Annual Accounts of the Company for the

financial year ended 31st March, 2013, the Balance Sheet as at that date and theReports of the Directors and Auditors thereon.

2. To fix remuneration of the Statutory Auditor of the Company to be appointed bythe Comptroller and Auditor General of India for auditing the annual accountsof the Company for the year 2013-2014.

NOTES:1) A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS

ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OFHIMSELF AND A PROXY NEED NOT BE A MEMBER. PROXIES IN ORDERTO BE VALID AND EFFECTIVE MUST BE DELIVERED AT THEREGISTERED OFFICE OF THE COMPANY NOT LATER THAN FORTY-EIGHT HOURS BEFORE THE COMMENCEMENT OF THE MEETING.

2) In pursuance of Section 619(2) of the Companies Act, 1956(the Act), the StatutoryAuditors of a Government Company is appointed by the Comptroller and AuditorGeneral of India. Further, under Section 224(8) (aa) of the Act, the remunerationof the Statutory Auditors of a Government Company shall be fixed by the Companyin a General Meeting or in such manner as the Company may in General Meetingdetermine. Accordingly, the Resolution authorizing the Board of Directors of theCompany to fix the remuneration of the Statutory Auditors of the Company to beappointed by the Comptroller and Auditor General of India for the year 2013-2014 is proposed for approval of the Shareholders.

Dated : 24.08.13 By Order of the BoardRegistered Office:Vidyut Bhavan,Sector-II, Block- DJ,Bidhannagar, (P.K.Banerjee)Kolkata-700 091. Company Secretary

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Directors ReportThe Directors have pleasure in presenting their Sixth Annual Report together withaudited accounts of the Company for the financial year ended 31st March, 2013.Performance Highlights:

Particulars 2011-12 2012-13(MU) (MU)

Sales 22201.275 25069.245Purchase 30794.481 34111.650Generation including PPSP(Net of Auxiliary consumption) 1180.735 1250.298

Financial Review:The summary of financial results of the Company for the year ended 31st March, 2013is given below:

Particulars 2011-12 2012-13 In Crore In Crore

Total Revenue Income 12096.21 16763.89Regulatory Income 2076.64 735.96Total Income 14172.85 17499.85Profit before tax 102.63 108.36Income Tax 29.15 26.64Profit after tax 73.48 81.72

Ratios:

Particulars 2011-12 2012-13Debt Equity Ratio 2.10 2.29Current Ratio 1.41 0.99Quick Ratio 1.32 0.93Assets Turn Over Ratio 1.21 1.53Interest Coverage Ratio 1.68 1.63Debt Service Coverage Ratio 1.26 1.32Stock Turn Over Ratio 3.65 3.27Return on capital employed (%) 2.73 2.91Return on Net Worth (%) 1.38 1.43Net Worth ( In lakhs) 531654 570806

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Share capital:

The authorized share capital of the Company was 4050 crores. The paid up sharecapital of the Company as on 31.03.13 was 2256.74 crores. Entire share capital ofthe Company is subscribed by the Governor of West Bengal and His nominees.

Deposits:

During the year, your Company did not accept any deposits from the public undersection 58A of the Companies Act, 1956.

Internal control systems and their adequacy :

WBSEDCL has a well established internal control system, which is commensuratewith the size and nature of its business and complexity of its operations. The companystrives to maintain a dynamic system of internal controls and procedures. TheGovernance and compliance processes of the Company which includes the review ofinternal control over financial reporting ensures that all the assets of the Companyare safeguarded and protected against loss and that all the transactions are properlyauthorized, recorded and reported. An independent Internal Audit function at thecorporate level carries out risk focused audits across all businesses, enablingidentification of areas where risk management process may need to be improved. Auditsare led by professionally qualified Audit Managers and supported by experiencedpersonnel drawn from across the organization. The Management duly considers andtakes appropriate action on the recommendations made by the Statutory Auditors,Internal Auditors and the independent Audit Committee of the Board of Directors.Audit results are used by the management to create detailed action plans, where thebusiness has not yet achieved full compliance with the requirements. Key findings arereported to senior management & summary reports are considered by the AuditCommittee of the Board.

Right to Information Act 2005(RTI) :

The Company has put in place RTI machinery for effective implementation of theprovisions of the RTI Act, 2005. Public Information Officer (PIO) has been designatedto dispose of the requests for information sought under RTI Act, 2005. An AppellateAuthority has been designated at Head Office to deal with the appeals received underRTI Act, 2005.

Disclosures:

All related party transactions during the financial year ended 31st March, 2013 werein the ordinary course of business and on arms length basis.

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There was no materially significant related party transaction which may have potentialconflict with the interests of the Company at large.

New Town Electric Supply Company Limited (NTESL):

NTESL is a franchisee of erstwhile WBSEB (now WBSEDCL) for distribution ofelectricity at New Town. The Company is an equity partner in NTESL with 50%shareholding agreement. West Bengal Housing Infrastructure DevelopmentCorporation Limited (WB HIDCO) is the other equity partner of remaining 50%.

The total equity participation of the Company in NTESL is 4.93 crores.

West Bengal Green Energy Development Corporation Limited (WBGEDCL):

The Company is an equity partner in WBGEDCL. The participation of the Companyin WBGEDCL is 35% of the Paid up Capital equivalent to 1.75 crores.

Power Exchange India Limited (PXIL):

The Company has executed a Share Transfer and Shareholders Agreement withNational Stock Exchange of India Limited, National Commodity & DerivativesExchange Limited and Power Exchange India Limited under which investment of asum of 4.00 crores has been made in PXIL.

Directors Responsibility Statement:

As required under Section 217(2AA) of the Companies Act, 1956, your Directors confirmhaving:

a) followed in the preparation of the Annual Accounts, the applicable accountingstandards with proper explanation relating to material departures if any.

b) selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a trueand fair view of the state of affairs of your Company at the end of the financialyear and of the profit of your Company for that period.

c) taken proper and sufficient care for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act, 1956 forsafeguarding the assets of your Company and for preventing and detectingfraud and other irregularities; and

d) prepared the Annual Accounts on a going concern basis.

Compliance of Applicable Laws:

Your Company also maintains a proper system in place to ensure compliance of alllaws applicable to the Company. It follows the comply or explain principle.

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Energy Conservation, Technology Absorption and Foreign Exchange Earningand Outgo:

As your Company is not categorized as Scheduled Industry, particulars in respect ofForm A pursuant to Rule 2 of the Companies (Disclosure of Particulars in the Reportof the Board of Directors) Rules, 1988 are not required to be furnished. However, thedetails in respect of form B pursuant to Rule 2 are furnished in Annexure-I.

During the financial year the Company incurred expenditure in foreign currency forconsultancy services and repair and maintenance of Purulia Pumped Storage Projectfor 13.09 crore.

Key achievements:

During the current financial year your

Company has achieved the following benchmarks:

1. Adjudged 3rd best power utility organized by Tech India for outstandingachievement in power sector reforms and customer service.

2. Ranked 2nd among 20 states in Indias power distribution sector. A rating wasawarded to WBSEDCL for its high operational and financial performance.Therating exercise was co-ordinated by the Power Finance Corporation under theaegis of Ministry of Power and was executed by ICRA and CARE.

3. Indian Chamber of Commerce has conferred third Best Utility award toWBSEDCL in its 6th energy summit.

4. Crossed the benchmark of 125 lakh customer base. 97 lakhs were rural consumersand 28 lakhs were urban consumers.

5. Additions of 419 km 33 kv line, 22088 km 11 kv line, 22502 km LT line. Erectionof 10 nos. 33/11kv sub-station evacuating 112 MVA power and Augmentation of33/11 kv Sub-Station evacuating 201 MVA power were completed.

Particulars of Employees under Section 217(2A) of the Companies Act, 1956:

No employee of the Company is covered under section 217(2A) of the Companies Act,1956 read with Companies (Particulars of employees) Rules, 1975 and the informationrequired to be furnished under the above Rules may be treated as Nil.

Management Discussion and Analysis:

The Annual Report also contains a separate section on the Management Discussionand Analysis which forms part of this Report.

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Corporate Governance:

Corporate Governance is a set of systems and practices to ensure that the affairs ofthe Company are being managed in a way which ensures accountability, transparencyand fairness in all its transactions in the widest sense and meet its Stakeholdersaspirations and societal expectations. Your Company believes in maintaining thehighest standards of Corporate Governance and it is the Companys constant endeavourto adopt the best Corporate Governance practices. Your Company has taken severalinitiatives towards maintaining the highest standards of Governance and these include:

Independent Board

One third of the total number of Directors is Independent. The Audit Committee,HRD and Remuneration Committee comprise majority of Independent Directors. TheCompany has defined guidelines for the meetings of the various Board Committees.The decision making process at the Board or Board Committees has been systemizedin an informed and efficient manner.

The Board critically evaluates the strategic direction of the Company, managementpolicies and their effectiveness. The agenda for Board include strategic review fromeach of the Board Committees, a detailed analysis and review of annual strategic andoperating plans and capital allocation and Budgets. Additionally, the Board reviewsfinancial reports from Director (Finance) and other reports from each of the HODs.Frequent and detailed interaction sets the agenda and provides the strategic roadmapfor the future growth of the Company.

A separate section of Corporate Governance forms part of this Report.

Agreement with M/s S.P. Global Solution Pte. Ltd., Singapore:

The Company has entered in to a technical consultancy agreement with M/s S.P. GlobalSolution Pte. Ltd, Singapore. They continue to provide consultancy services in thefield of Network Planning Philosophy & Design Procedure, Management of Networkby Condition Monitoring and implementation of SCADA system.

Consumer profile:

In 2012-13, the Company served approximately 125 lakh consumers and its total powerconsumption stood at 20534.076 MU. In terms of the category wise sales mix, thedomestic category of consumers accounted for 35.18%, share of agricultural consumerswas 6.06%, commercial category had a share of 14.93 %, the industrial consumersaccounted for 35.37% while others comprising of Traction, Street Lighting, Cold Storage,P.W.W. and Jharkhand SEB accounted for 8.46%.

The total number of centralised and decentralized bulk consumers as on 31.03.13 was 3677.

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IT initiatives:

The Company is presently implementing the following IT initiatives:

i) Implementation of R-APDRPii) Enterprise Resource Planning(ERP)iii) Spot Billingiv) Smart Grid

ERP:

As a part of ongoing capacity building programme, the company has decided toimplement Enterprise Resource Planning in a number of functional areas acrossheadquarter and field offices located all over West Bengal. The functional areas to becovered under ERP are: Finance Accounting & Controlling, Human ResourceManagement, Plant Management, Procurement and Material Management, ProjectPlanning and Project Management. AS IS STUDY is already completed and TO BESTUDY is completed. Business Solution Design Simulation process is in progress.

Prepaid Metering:

At present, 4(four) customer care centres at Bidhannagar & New Town area, havebeen brought under this scheme. As on 31.03.13 total 10160 nos. (1411 nos. of metersfor Bidhannagar & 8749 nos. of meters for New Town) of pre-paid meters have beeninstalled covering Bidhannagar-I,Bidhannagar-II, Bidhannagar-III & New TownElectric Supply Company Ltd. Both single phase (4847 nos.) & three phaseconnections(5313 nos.) have been provided. Two vending stations have been establishedwhere consumers are able to produce the recharge coupons, one at Vidyut Bhavan &another at New Town Electric Supply Company Ltd. On an average 12 lacs (approx.)of recharge coupons are purchased per month.

Smart Grid:

The Company is in the process of implementation of pilot project of Smart Meters withAMI facility in Siliguri Town under Smart Grid initiative of Indian Smart Grid TaskForce. In the pilot project, the Company has opted for monitoring and delivering powerthrough smart grid mechanism.

Staff Welfare:

Several steps were taken in the area of staff welfare during the year. The Companyhad taken up a number of initiatives for ensuring better health of the employees andtheir dependants by way of inclusion of renowned and reputed medical institutes inits approved list of hospitals and conducting health check up camps and healthawareness programme.

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The Company through its Staff Recreation Clubs participated in local and nationallevel sports events and cultural competitions as well as conducted annual sports. TheCompany provides Canteen subsidy at various units for the welfare of the employees.

Industrial Relations:

The Company maintained healthy, cordial and harmonious relations at all levels.

Directors:

Shri Narayan Swaroop Nigam,IAS took charge of Chairman and Managing Directorof the Company w.e.f 13.08.13 in place of Shri Rajesh Pandey. The Board welcomesShri Nigam.

Shri Tapan Kumar Majumdar joined as Independent Director of the Company w.e.f13.03.2013.The Board welcomes Shri Majumdar.

Shri Abhijit Bose, Director (Distribution), resigned from the Board w.e.f 14.11.12.Shri S.N.Menon, Independent Director ceased to be a member of the Board w.e.f13.03.2013. The Board expresses its sincere appreciation for the services rendered byShri Rajesh Pandey, Shri Bose and Shri Menon during their tenure as Directors of theCompany.

Statutory Auditors:

M/s Mookherjee, Biswas & Pathak, Chartered Accountants, Kolkata, were appointedas statutory auditors of your Company for the financial year 2012-2013 by theComptroller and Auditor General of India. The Statutory Auditors have audited theaccounts of the Company for the year ended 31st March, 2013. Accordingly, the followingdocuments are annexed to this report :

a) Audited accounts and Cash Flow Statement of the Company for the year ended31st March, 2013.

b) Auditors Report on the Audited Accounts of the Company for the year ended 31stMarch, 2013.

c) Comments of the Statutory Auditors and the Managements reply thereon.

d) Comments of Comptroller and Auditor General of India.

e) Statement of Technical particulars and Category wise Sales in MU and number ofconsumers as on 31.03.2013.

Cost Auditor:

M/s BCD & Associates, Cost Accountants, 382, Jodhpur Park, Flat-4A, Kolkata-700068,were appointed to conduct the audit of the cost accounting records of the Company for

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the year 2012-13. The Cost Audit Report for the year 2011-12 was filed with the Ministryof Corporate Affairs on 30.09.2012.

Secretarial Audit:

During the year Secretarial Audit was conducted by M/s S.K. Agrawal & Co., CharteredAccountants, 4A, Council House Street, Kolkata 700001.

Acknowledgement:

Your Directors would like to express their appreciation for the assistance and co-operation received from Government of West Bengal, particularly the Department ofPower and Non-conventional Energy Sources, Ministry of Power, Govt. of India, WestBengal State Electricity Regulatory Commission, Central Electricity RegulatoryCommission, PFCL, RECL, Banks and other Financial Institutions, Customers,Vendors, Contractors and Consultants during the year under review.

Your Directors wish to place on record their deep sense of appreciation for the committedservices by the Executives, Staff and Workers of the Company.

Your Directors also thank the Statutory Auditors M/s Mookherjee, Biswas & Pathak,Chartered Accountants, M/s BCD & Associates, Cost Auditors and the Comptrollerand Auditor General of India for their valued cooperation.

Date: 24.08.13 On behalf of the Board

Vidyut Bhavan,Sector-II, Block - DJBidhannagar, (Narayan Swaroop Nigam)Kolkata-700 091 Chairman & Managing Director

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Annexure I

Form B

Form for disclosure of particulars with respect to absorption

Research and development (R&D):

1. Specific areas in which R&D carried out by the Company :a. WBSEDCL in true sense did not take any R&D activity but took assistance

from National Productivity Council (NPC) towards preparing the base linedata, documents for assessment and study of Energy Consumption potentialparticularly in 4 (four) sectors namely; Agriculture Pump Sets, Municipal WaterWorks & Lighting Services, SME Clusters and Commercial Buildings in WestBengal under the guidelines of BEE. On the basis of that study the followingaction has been taken up by WBSEDCL as SDA (State Designated Agency)through BEE fund.

(i) Sector Specific Annual Energy Saving Plan and Establishment ofRevolving Investment Fund have been taken in following 2 (two) sectors.

1. Commercial Buildings Sector including Government Buildings.

2. Municipality Sector

One Contract Agreement between WBSEDCL and Energy EfficiencyService Limited (EESL) has been made on 02/12/2011 for Preparationof Sector Specific Annual Energy Saving Plan. Data collection hasalready been done for 37 Commercial buildings out of 55 nos. and 12nos. Municipal building out of 45 nos. of Sampled Buildings.

(ii) LOA placed for Policy preparation and DPR (Detailed Project Report)preparation for 20 (twenty) industries including SMEs (Small & MediumEnterprises) and Large Industries in the State on the following:

a) National Productivity Council (NPC) for Rice, Tea, Cement and JuteSector and

b) Indian Institute of Social Welfare and Business Management(IISWBM) for Steel Rerolling and Sponge Iron Sector.

(iii) A number of awareness programmes were conducted on EnergyConservation, such as

a. Awareness Campaign among Tea Sector conducted at Siliguri on 18thMay, 2012 with over whelming response through PetroleumConservation Research Association (PCRA).

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b. Awareness Campaign on PAT (Perform Achieve and Trade)Programme has been conducted at Kolkata on 12th July, 2012 alongwith participation from BEE.

c. Training programme for Designated Consumers, Energy Managersand Energy Auditors as per Annual Action Plan through NPC.

d. The Workshop on Energy Conservation measures in CommercialBuilding (Connected load > 100KVA) has been conducted inconsultation with National Productivity Council (BEE nominatedConsultant) on 7th December, 2012 through NPC.

2. Benefit derived as result of the above R&D: not yet derived

3. Future plan of action: As mentioned above4. Expenditure of R&D: Does not arise

a. Capital

b. Recurring

c. Total

d. Total R&D EXPENDITURE as a percentage of total turnover

Technology absorption, adaptation and innovation:

1. Efforts, in brief, made towards technology absorption, adaption and innovation :

a. Investment Grade Energy Audit (IGEA) for 32 (thirty two) nos. of Govt.Buildings was completed and Final Report was submitted. Implementation ofEnergy Audit at SBI Samriddhi Bhawan, Kolkata will be taken up aftercompletion of DPR for the year 2012-13.

b. Pilot LED (Light Emitting Diode) based Street Lighting Projects at KolkataMunicipal Corporation (KMC) area has been completed.

c. Project of LED village campaign at Dandirhat under Basirhat (Dist.) Division,24 Parganas (North) in place of existing Incandescent Bulbs (ILBs) in thetotal 200 nos. households by 2 nos. 5 Watt LED Bulbs and 50 Nos. StreetLights by 24 Watt LED Street Lights. Work has been completed by 30th March,2012.

d. Promotion of new technology of lighting by using Light Emitting Diode (LED)Lamp, at Arambag 400/220/132/33 KV Sub-Station has been completed by 8thAugust, 2012.

e. LED Street Light Project at Municipalities (namely, Dinhata, Jalpaiguri,Coochbehar, Siliguri and Darjeeling District).

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Physical verification of existing and future provisions has been conducted atDarjeeling, Siliguri, Jalpaiguri, Coochbehar and Dinhata Municipalities.Technical formalities such as EoI/Tender will be floated shortly.

f. LED Village Campaign at Bakkhali Sea Shore under Namkhana Municipality.

Physical verification of existing and future provisions has been conducted atBakkhali Sea Shore. Technical formalities such as EoI/Tender will be floatedshortly.

g. Toll free telephone no. in each five zone & one IVRS (single no. for all consumer)have been introduced for call docketing of power cuts or any problem.

h. Theft information may be docketed through one toll free telephone number.

i. Bill down loading and e-payment facility through net banking has beenintroduced to consumer of 123 CCC (through SAP) and will be introduced inrest of the CCCs in the next 2 years.

j. Call docketing through Companys official website for power failure or anyother complaint have been introduced.

k. Name, address, telephone no., e-mail id of Grievance Redressal Officers ofdifferent districts is published in official website of the Company. Grievancepetition are also received directly through given e-mail.

l. Spot billing is in operation in 224 CCCs.

m. Other payment gateway like Kiosk/SREI (Tathya Mitra)/ ECS are in operation.n. Payment through Debit/ Credit card will be implemented shortly.

o. Customer satisfaction Survey through M/s Frost & Sullivan (India) Pvt. Ltd.has been started from January 2013 and it will be continued for consecutive 3years for obtaining Customer Satisfaction Index.

p. Spot billing would be introduced in another 63 CCCs in the near future.

2. Benefit derived as a result of the above efforts, e.g product improvement, costreduction, product development, import substitution etc. :a. Impact assessment study will be done after completing the above mentioned

job by adoption of new technology of lighting with Light Emitting Diode (LED)Lamp. WBSEDCL will reduce energy consumption and system demand andthus more consumers can be given connection by WBSEDCL.

Dated: 24.08.13 (Narayan Swaroop Nigam)Chairman & Managing Director

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Management Discussion and Analysis

Forward-Looking Statements:

This Report contains forward-looking statements that involve risks and uncertainties.Actual results, performance or achievements could differ materially from thoseexpressed or implied in such forward-looking statements. This Report should be readin conjunction with the financial statements included herein and the notes thereto.

General overview of the Economy:

In the financial year 2012-13, the global economy improved slowly and did not recoverto the extent as was anticipated at the beginning of the year. Recession due to highrate of unemployment, banking fragility, fiscal tightening and sluggish growth wasexperienced in several European Countries. The US economy improved marginally,driven mainly by housing and the consumer sectors, though the capital investmentsremained sluggish. China experienced considerably slower growth. In India, economicgrowth rate slipped to around 5% for the 2012-13 fiscal year compared with 6.2% inthe previous fiscal. The Indian economy faced the challenge of deceleration growth,high inflation and fiscal deficit.

India's recent slowdown is partly rooted in external causes whereas domestic causesare also important. The slowdown in the rate of growth of services in 2011-12 was at8.2 percent, and in 2012-13 to 6.6 percent, contributed significantly to slowdown inthe overall growth of the economy, while some slowdown could also be attributed tothe lower growth in agriculture and industrial activities. But despite the slowdown,the services sector has shown more resilience to worsening external conditions thanagriculture and industry.

However, it appears that in 2013-14 there would be gradual turnaround and estimatedgrowth rate in the fiscal would be in the region of over 6%.

Industry Structure and Developments:

The All India aggregate installed capacity of electric power generating stations undervarious utilities as on 31.07.2012 was 2,06,456 MW comprising 39,291 MW of hydro,1,37,386 MW of thermal, 4,780 MW of nuclear and 24,998 MW Renewable EnergySources (RES).

There is an overall shortage of power in the country both in terms of energy deficit andpeak shortage. Large number of power projects (XI and XII five year plans) is underconstruction to overcome the power shortages and meet the growing energyrequirements in the country. The Eleventh Plan added 55,000 MW of generation

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capacity which was more than twice the capacity added in the Tenth Plan. The TwelfthPlan aims to add another 88,000 MW which means adding 17,500 MW per annumover five years.

The capacity addition target for the year 2012-13 was set at 16,500 MW. As against it,a capacity of 20,500 MW has been added in the financial year 2012-13. During 2013-14 a capacity addition of 18,432 MW comprising 15,234 MW of thermal, 1,198 MW ofHydro and 2,000 MW of Nuclear power stations has been considered.

Key implementation challenges for India's electricity sector include ensuringavailability of fuel quantities and qualities, environmental clearances at State andCentral Government level, open access constraints, transmission constraints and highAggregate Technical & Commercial (AT & C) losses etc. in the country.

Since the formulation of Electricity Act, 2003, Government of India (GoI) has beentaking several initiatives and announced various regulations to strengthen the sector.Significant GoI initiatives in recent times include Mega / Ultra Mega Power Generationprojects, Re structured Accelerated Power Development Reform Programme(APDRP2), National Electricity Fund, etc.

The above continued initiatives of GoI would contribute significantly towardsstrengthening the Electricity sector.

HR Activities:

Development of Human Capital to the fullest potential is one of the key areas towardssustenance and development of the Company and the HR activities of the Companyare geared towards this objective. A committed & qualified workforce can meet anychallenge and push forward the agenda of the Company. The primary initiatives during2012-13 are briefly described under the sub-heads:

A. Manpower Planning / Recruitment

B. Training of Officials

C. Safety Issues

D. Statutory Compliances

E. Welfare Initiatives

F. Corporate Social Responsibilities

G. Vigilance Activities

H. Health Issues

I. Other Issues

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A. Manpower Planning / Recruitment:

Manpower Planning is a significant part for the growth of the Company. ProperSuccession Planning, timely action to fill up vacancies through promotion / directrecruitment and meeting requirement for any new field of activity and optimalisationof Human Resources has been the basic function area. Lowering of average age of theworkforce has been a significant objective. New recruitments made against existingvacancies during the financial year have been 1348 (all classes taken together) (FromCampus Interview/Open market). Timely promotions to both technical & managerialcadres have been duly effected.

Total manpower as on 31.03.2013 was 16940 (In addition 1687 employees are ondeputation to WBSETCL). Existing vacancies at the end of the year is near 2294.About 1890 employees would retire during the Calendar year 2013. Women employeesin the Company during 2011-12 & 2012-13 have been just over 10%. 400 Appointmentsunder deceased dependent category have been made during the year.

B. Training and Human Resource Development:

The principal objective of the Company has been to transform WBSEDCL through aperformance driven culture. The Company has continued to invest in and improve itsmanagerial and technical capabilities through the internal development of its ownemployees.

To bridge functional skill gaps and to identify employees for focused learning in linewith the current and future needs of the Company and to update & upgrade technical& management skills duly, various in-house training programmes were designed afterassessing training needs. Nominations were made during the year under review foroutside (Home & Abroad) training programmes. Our primary Training Partners areCPRI Bangalore, NPTI Durgapur, CESC, SGPS Singapore, CIRE, ASCI, IIM Kolkata,IIT Kharagpur, APTECH, WEBEL, XISS Ranchi etc.During the year 2012-13 various training was imparted to 4394 officials out of targetof 4700 officials covering 93.5% of the target. The number of officials imparted trainingduring the year comprised about 26% of total existing officials/personnel in theCompany.

There are presently four Training Institutes through which training is imparted in-house:

1. Corporate Institute at Vidyut Bhavan, Kolkata2. EETI at Tribeni, Hooghly3. Kalyani Junior Training Institute at Kalyani, Nadia4. EETI at Rajarhat, Kolkata

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The following Electrical Training Institutes (EETIs) are expected to function shortly:

1. Baharampore

2. Kharagpur3. Bardhaman

4. Coochbehar - Expected to start functioning in the next financial year.

More Training Institutes viz. EETIs throughout the State might be established tocater to the needs of the employees posted within five Distribution Zones. Besides, aManagement Training Institute at New Town, Kolkata will be set up for impartingTraining and Development Programme in respect of management personnel. All suchInstitutes will have a Principal and staff set up with Class room, Hostel, Library,Dining facilities and other necessary logistical supports.

A training policy has been formulated which ensures 7 days training to be imparted toall the employees of the organization within a block of 2 years.

Publication of Training Calendar at the start of the financial year is a regular featureof the Company. During 2012-13 a Training Bulletin (a quarterly publication) toventilate training feedback & training related issues has been introduced.

In addition, training was also organised for employees of other organisations. 240employees nominated by WBPDCL were imparted training during 2012-13.Another important feature has been the TQM (Total Quality Management) Initiatives.During the year, 100 Customer Care Centres have been covered by way of formationof Quality Circles. The activities were primarily on reduction of AT&C Loss,Enhancement of Customer Care & Customer Satisfaction, Safety measures etc.

C. Safety Initiatives:

Besides reduction of AT&C Loss and ensuring Consumer Satisfaction, ensuring safetyis also one of the highest priority issues for the Company. The Company had introduceda Safety Management System for compliance of requirements of Safety Regulations &Provisions. Policy functions formulated in respect of Health & Safety are being executedwith all out effort. Safety manual has been put in place which broadly lays downscientific safety management for construction, operation and maintenance of electricalplants and lines. Safety Films have been prepared and utilized for awareness building/education.

Safety is considered as an integral part of work process to ensure safety for employeesand contractor labour as well as general public. Safety training and awarenessprogrammes are being conducted through Electrical Employees Training Institutes inregular manner. Contractor labourers are also being brought under safety training

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with all facilities. Special seminars, workshops have been organized for Public Safetyawareness.

For further awareness building campaign, posters have been displayed at CustomerCare Centers, use of National and Local Electronic Media for awareness building isbeing considered. Special publicity campaign is also being formulated.

Fast track action has been introduced and policy has been adopted against non-compliance of safety regulations at work sites to achieve Zero Accident / accident freeorganization.

With all the concerted & collective efforts, there has been a 20% reduction of fatalvictims with overall 10% reduction in incidence of accidents in 2012-13 compared to2011-12.

Performance of officials in the field of Safety have been made part of PerformanceAppraisal Report and in cases of lapses Departmental proceedings are initiated.Recognition of extra-ordinary service in the field of Safety by way of Prizes is alsobeing considered.Other initiatives have been -

l A Disaster Mitigation Plan has been prepared.

l Mock Drills for Fire Fighting at Corporate Office held.

l Security Guards placed at different installations (Stores/Sub-Stations/CCCs/other offices).

D. Statutory Compliance:

All out concerted and collective effort is ensured for observance of Statutory Compliancesin the Company in its every Wing.

A Data Bank of all relevant particulars of contractors and contract labour is beingdeveloped for proper monitoring of Statutory Compliance for effective contract labourmanagement. Appropriate administrative action is initiated promptly for any non-compliance detected.

E. Welfare Initiatives:

Various Welfare initiatives for the Company employees have been put in place duringthe year.

These were:l Action related to Introduction of Farewell Gift to Company officials on

superannuation w.e.f. 01.04.2013.

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l Action related to Introduction of Medical Insurance Coverage for retiredemployees of the Company.

l Actions related to revision of CSR Policy of the Company.

l Introduction of Holiday Home at Digha. Continuation of Holiday Home atHaridwar, Mumbai, Vellore.

l The Company through its Staff Recreation Clubs participated in local andnational level sports events and cultural competitions as well as conductedannual sports.

l The Company provides Canteen subsidy at various units for the welfare of theemployees.

l The Company undertook several steps in the area of staff welfare during the year.

F. Corporate Social Responsibilities:

The Company provided grant under CSR Scheme on various social causes viz. providingnew service connection at the residence of poor and meritorious students, shifting ofHTOH line from the premises of Schools, Hospitals etc., providing exercise books,pencils, erasers etc. to the poor students of interior villages, construction of schoolbuildings etc.

In addition, financial package was allowed to 51 nos. of land losers of Rammam HEPand financial help was extended to the GTA towards development of tourism, providingwater supply to some surrounding villages and other developmental works. Break upof grant sanctioned was as under:

a. 4.08 crore for 51 land losers @ 8 lakhs per head

b. 1.00 crore for proposed water supply scheme

c. 2.00 crore for proposed tourism & school building

The CSR Policy is being revised through a Committee. The revised CSR Policy isproposed to be effected during the next financial year.

Mandatory Corporate Social Responsibility Activity:

1. Offering employment opportunity to persons who are physically challenged(suffering from various disabilities such as visual, orthopedic disability etc.) incompliance with various mandatory guidelines issued by the Government fromtime to time.

2. Providing necessary measures of social security to women employees of theCompany in terms of allowing maternity benefits/Child Care Leave as applicable

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under various statutory provisions or as may be decided by the Company fromtime to time.

3. Offering necessary social security benefits to the employees of the Company in theform of benefits under Contributory Provident Fund Scheme, payment of gratuityetc. as may be applicable from time to time under various statutory provisions orotherwise under the Companys policy.

4. Offering necessary facilities to the employees and their dependent family membersin the area of health and medical facilities as is outlined in various policies of theCompany.

5. Offering employment opportunity to members of Scheduled Caste, ScheduledTribes, other Backward Classes, in conformity with various guidelines of theGovernment as may be applicable from time to time.

6. Providing crop compensation to the Project affected people of Little Rangit HydroElectric Plant.

G. Vigilance:

Vigilance Department of the Company plays the role of watch dog so as to ensure thatthe laid down systems and procedures are not tampered with for any personal gain orbenefit. It deals with cases relating to the dereliction of duties, malpractices and corruptpractices involving moral turpitude, defalcation of cash, misappropriation of stores,forgery of documents, false claim, theft of electricity, acceptance of illegal gratificationetc. It also acts as office of the Board Committee for consideration of Appeals andprocesses the appeal petitions submitted by the individual appellant. The declarationof assets in respect of class-I & II officers of the Company are maintained by thisdepartment.

Corporate Vigilance department sporadically undertakes anti-corruption drives bylaying traps to catch the miscreants particularly the employees or officers of theCompany red handed while accepting illegal gratification in cash or kind. It alsoundertakes consumer survey seeking their opinion in respect of the services renderedby the employees, as a measure of preventive vigilance.

It believes in the principle of natural justice and punishing the guilty. During 2012-13, punishment was imposed on 56 officials (Class-I: 8, Class-II: 10, Class-III: 32,Class-IV: 6) against proceedings involving 58 employees.

H. Health:

Managing health and safety is an integrated and systematic approach. The Companyis continuously endeavoring to provide safe and hygienic working conditions for its

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employees as well as contractual workers by establishing safety goals, demandingaccountability for safety performance so that it can be converted into accident freeCompany. To ensure a healthy Company, health of each individual employee is to beensured. For this, the Company strives to:v Make arrangements to provide medical facilities to its employees at different

work places.v Reimbursement of expenses incurred by an employee for securing medical

services available at super specialty hospitals and nursing Homes for diseaseof critical nature for the employee and his/her family members.

v Health check up at an interval of three years after an employee attains theage of 40 years.

v Grant of solatium to an employee/Contractor/General Public who falls victimof an accident while working on the system etc.

v To provide cost of medical insurance/ESI premium to service providers asstatutorily required.

v To encourage its employees to practice safe health & culture, undertakepromotional activities including games and sports, organizing special seminarsetc. for maintaining good standard of health for its employees.

v During 2012-13, 11 (Eleven) Medical Board were organized for 62 employees.Patients attended in Medical Unit were 7352 in numbers.

Medical Reimbursement made 8.43 Crore. Employees/Ward covered = 1908

Medical Advance made = 6.70 Crore. Employees/wards covered approx.600)

v Introduction of feedback mechanism to judge quality of service provided byapproved Hospitals / Nursing Homes / Institutes.

v Particulars of dependants of the employees have been captured through acustomised software package to facilitate reimbursement of medical expenses.

v A breast cancer awareness programme for Women employees was organised.

I. Other HR Activities:

v Company took part in Pragati Utsav-2012, IITF 2012, Bengal Builds 2012,Infocom 2012, India Power Awards 2012, Bengal Leads 2012 etc.

v Organized Tableau on Republic Day & Independence Day.

v Printing of in house journal titled Vidyut Barta Monthly, publication of YearlyCorporate Plan; Positive News Coverage during the year 445.

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v Payment of ex-gratia grant to the pensioners / family pensioners.

v Payment of ex-gratia grant/festival advance to the employees.

v Revision of daily rate of wages of Part Time Sweepers (PTS) & Security Guards.v Conducting Prize Giving Ceremony for appreciating excellent performance in

2012-13 by wards of employees.v Observed 150th Birth Anniversary of Rabindranath Tagore/Celebrated the

150th Birth Anniversary of Swami Vivekananda/Observed InternationalWomen's Day.

v Winning Championship of Veterans Football Tournament-2013.v Felicitated winning team members of 38th All India Electricity Football

Tournament.v Designated State Public Information Officers and First Stage Appellate

authorities, at the District Level.

v Endeavour has been taken for review and rationalization of House RentAllowance for occupation of departmental quarters by the employees posted atProject Site Offices etc.

v Re-constitution of Board of Trustees of WBSEB Employees ContributoryProvident fund.

v Introduction of usage of ID and password to access employee information underweb portal of WBSEDCL.

v Revision of Electricity Allowance for the employees.

v Schedule of Delegation of Power has been modified.

v Validity of MOU between WBSEDCL and UBI to facilitate the employeetowards drawal of housing loan under tie-up arrangement is extended uptoNovember, 2017.

v Standing Committee for processing of queries/clarifications relating tointerpretation and implementation of provisions of ROPA-2009 has beenreconstituted.

v Provision of Hill Compensatory Allowance and Winter Allowance has beensegregated and rationalized.

Development of KPI and scorecard:

Performance monitoring system is being developed based on balanced scorecardapproach. Key Performance Indicators (KPI) have been developed for each of the levels,

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namely Corporate, Directorate, Departments and finalization of the KPIs for the fieldlevel units is under process.

Policy formulation:

During the year under review the following policies/guidelines were framed:

i) Modification of accounting policy on revenue recognition and formation ofpolicy on transaction in foreign currency

ii) Hedging Policy

iii) Guidelines for recruitment of sports persons

iv) Amendment of policy on waiver of AMGR and LPSC

v) Amendment of Holiday Listing and Purchase policy and General Conditionsof Contract

vi) Modified policy on realization of Security Deposit from Central and StateGovt. Departments for all categories of consumers

vii) Scheme for Farewell Gift to the retired employees

viii) Accounting policy on Physical Verification of Fixed Assets

ix) Accounting policy for Swapping of Power

x) Risk based Internal Auditing planning process policy

Strengths and Opportunities:

l Scope of considerable growth of Hydel Power and Non-Conventional Power

l Reduction of AT&C Loss and improvement in Distribution system and collectionefficiency

l Diversification and strategic tie-up

l Human Resource Development practices

l Operational capabilities and practices

Threats:

l Sharp increase in power purchase cost due to hike in fuel prices

l Time gap of recovery of cost through tariff

l Accumulation of Regulatory Assets

l Loss in trading opportunity

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l Threat of Open Access

l Changes in regulatory requirement and compliance thereof

Distribution System:

Development of power infrastructureTo meet the growing demand of power, distribution infrastructure was strengthenedfor supply of quality power to the consumers during the financial year under reviewby:

i) Laying of 419 km 33 kv lineii) Laying of 22088 km 11 kv line

iii) Laying of 22502 km LT line

iv) Erection of 10 nos. 33/11kv sub-station evacuating 112 MVA power

v) Augmentation of 33/11 kv Sub-Station evacuating 201 MVA power

Strengthening of Distribution System

For further strengthening of distribution infrastructure, the following addition fromoperation and maintenance is envisaged in the year 2013-14:

i) Laying of new 440 km of 33 kv line

ii) Laying of new 2500 km of 11 kv lineiii) Laying of new 2500 km of LT line

iv) Erection of 15 nos. of new 33/11 kv Sub-Stations evacuating 209 MVA power

v) Augmentation of 33/11kv Sub-Stations evacuating 250 MVA power

Mobile Maintenance Unit

Mobile Maintenance Units have been engaged for quick restoration of power supply incase of interruption/breakdown in the system.

Condition Monitoring for preventive maintenance

The Condition Monitoring Team at Head Quarter has conducted inspection of 146nos. of 33/11 kv Sub-Stations in the years 2011-12 and 2012-13 and advised for differentpreventive measures to avoid breakdown/interruptions. Further monitoring of 100nos. of 33/11 kv Sub-Stations have been planned in the year 2013-14.Other than HeadQuarter, Condition Monitoring Units have started functioning in Siliguri and KolkataZones.

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Transformer Transaction Management System

For preservation of detailed records of all distribution transformers and to capturetheir transactions,Transformer Transaction Management System software has beendeveloped by M/s PwC Pvt.Ltd. The system has already started functioning.

Testing of CTs and PTs

To eliminate dependency and for the purpose of expediting testing, facility for testingof CTs and PTs of different ratings has been established at Distribution TestingDepartment.

Development of new software

Consultancy services of IIT, Kharagpur has been sought for development of software to:i) Study of voltage regulation at any point in the power systemii) Compute technical losses in the linesiii) Decide the time and the probable location of erection of new 33/11kv sub-

stationiv) Ascertain the time of erection of distribution transformer.

RGGVY :

The Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) is a Government of Indiafunded Project. It covers 14 Districts of West Bengal and the executing agencies areWBSEDCL and Central Public Sector Undertakings (CPSUs). WBSEDCL is entrustedwith ten projects in the district of Coochbihar, Darjeeling(SMP), Dakshin Dinajpur,Malda, Nadia, Hooghly, Howrah, Birbhum, Burdwan and South 24 Parganas. Thedistrict of Uttar Dinajpur, Murshidabad, Paschim Medinipur (only Kaharagpur Block-(I & II), Paschim Medinipur(other than Kharagpur Block) and Purulia have beenentrusted to CPSU viz; NTPC, PGCIL and NHPC are functioning as the implementingagency in this project. In this project, BPL connection to be effected would be around23.23 lakh. REC has accepted proposal for extension of the RGGVY 11th plan upto30.09.13. 88.64% BPL service has been completed up to 31.03.13.

West Bengal Rural Household Electrification Programme under WBREP:

The State of West Bengal has undertaken Rural Electrification work in the four districtswith its own fund in the districts of Jalpaiguri, North 24-Parganas, Purba Medinipurand Bankura. The target of the project was to cover 6.07 Lakh households. 8021 villageswill be electrified under this project. Under WBREP 86.86% BPL service has beencompleted up to 30.03.13.Entire job is expected to be completed within 30.09.2013.

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West Bengal Rural Household Electrification Programme (Supplementary):

Govt. of West Bengal has sanctioned a fund of 350 Crores for both West BengalRural Household Electrification Programme (Supplementary) and West BengalHousehold Electrification Programme (Balance). To cover habitations with a populationless than 100, one supplementary scheme has been taken up at a cost of 126.33Crores. Through this project 2802 villages and 1.11 lakh BPL service connections willbe covered. The job under WBREP is expected to be completed by 30.09.13. Up to31.03.13 progressive achievement of 43.24% BPL service has been completed.

Rural Electricity Distribution Backbone Scheme (REDB-I & II):

To cope up with rapid and enormous rural electrification work in West Bengal, it isexpected that 30 lakh (approx) household will be electrified. To provide uninterruptedand quality power to the consumers, 43 nos. of new 33/11 KV Sub-stations (34 underREDB-I & II and 9 nos. under RGGVY XITH Plan) are to be installed with augmentationof capacity of 28 nos. existing 33/11 KV Sub-stations. WBSEDCL has provided fundfrom its own source for 34 nos. new 33/11 KV Sub-Stations and for augmentation of 28Nos. existing 33/11 KV Sub-Stations, so that work at all District could startsimultaneously without any discrimination. Augmentation of 28 nos. existing 33/11KV Sub-Stations has been completed. 5 nos. 33/11 KV Sub-Stations have beencommissioned and 19 nos. 33/11 KV Sub-Stations will be commissioned withinDecember, 2013. Possession of land for balance 19 nos.of sub-stations is in differentstages.

Sundarban Development Works:

Sundarban is a virtually undaunted vast area and grid power supply is not availablethere. The area comprises 13 Blocks in South 24 Parganas and 6 Blocks in North 24Parganas district where rural electrification work is in progress under the WBREP.Infrastructure development in the remote area of Sundarban has become very difficult.Transportation of pole to the working place has been a task job as these are to betransported through country boats for presence of several rivers in the area. At fewplaces, power is supplied through experimental non-conventional power (Solar Cell).It supplies few watts of electricity for a very short time and is very unreliable. Total 39Nos. mouzas are to be electrified in Gosaba Island, Pathar Pratima Block. Estimatedcost of WBSEDCLs scheme is 28 Crores.

Sagar Island

In Sagar Island, power had been supplied for about 4 hours in the evening by dieselgenerator set. Supply from grid power had been established from September, 2011

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and round the clock power is now supplied at Sagar Islands. At present 1241 nos.domestic, 1908 nos. commercial, 16 nos. industrial, 5 nos. short time irrigation, 1 no.P.U and 1 no. educational consumers are getting power in Sagar Island. WBSEDCLhas formulated scheme for electrification of 42 villages in Sagar Island. One project isbeing processed for implementation with the fund assistance of 35 Crores from WorldBank through Integrated Coastal Zonal Management.

Special Backward Region Grant Fund (BRGF):

In the 10th Plan, Mouza Electrification Programme was taken up under RajeevGandhi Grameen Vidyutikaran Yojana (RGGVY) in a massive scale. In the 11thPlan too under the same scheme and also under West Bengal Rural ElectrificationProgramme (WBREP), intensification Programme was taken up. This could provideonly electrification for about 55% of the total rural households. The poor coverageof electrification in the State was identified by the State Government as one ofthe major area for policy intervention. While per capita electricity consumptionis 550 units for the State of West Bengal; the average consumption in the elevenbackward districts of the State is only about 168 units. The coverage of householdsin these districts is also comparatively poor. Against the state coverage of 55%,the coverage in these 11 districts is only about 42%.The State Govt. has identifieduniversal electrification of households as a topmost priority. Therefore, a newProject titled Sarba Griha Deep Prakalpa (Sabar Ghare Alo) was prepared forproviding 100% electrification in the eleven identified backward districts of WestBengal namely Dakshin Dinajpur, Malda, Murshidabad, Birbhum, South 24Parganas, Uttar Dinajpur, Purulia, Paschim Medinipur, Jalpaiguri, PurbaMedinipur and Bankura.The said project report was submitted by the Company to the PlanningCommission through Government of West Bengal. The Empowered Committeeheaded by Member Secretary, Planning Commission approved the proposal ofPower Project with an estimated cost of 2511.10 Crores as Central Assistanceto the State Government for power projects under special plan for West Bengalunder BRGF. During the financial year 2012-13, an amount of 620 Crores hasbeen sanctioned for this purpose. Up to 31.03.13, progressive achievement of14.97% has been reached.

National Electricity Fund (interest subsidy) Scheme [NEF]

In order to strengthen Distribution Network and to facilitate quality power supply tothe Consumers, Schemes have been framed for six projects under National ElectricityFund (interest subsidy) Scheme [NEF] of GOI. Under the Scheme, the financialassistance at subsidized rate of interest for six projects which were not covered under

36


R-APDRP & RGGVY will be available from RECL, the Nodal Agency appointed by theMOP, GOI for operation of the Scheme.

The Company has taken on hand execution of such 6(six) projects in the state of WestBengal at a total scheme cost of 1040.11 crore. The project completion time will be3 years from the date of sanction.

The estimated benefits from the projects are:1) Enhancement & strengthening of Distribution Network.2) Outage of Power supply will be reduced with increase in revenue earning.3) It will be possible to give better customer service.4) Considerable savings in view of reduction of Technical losses.

Implementation of R-APDRP Project:

The R-APDRP is a Union Government initiative aimed at reducing aggregate technicaland commercial losses across state-owned distribution utilities to 15%.The programmeis being implemented across two broad segments, focusing in IT implementation(PartA) and system strengthening(Part B).Power Finance Corporation of India is the nodalagency of the programme.

The Company is implementing a project under R-APDRP (Part A) in 61 towns underlicensed area of the Company. The Project scope is preparation of baseline date forproject area covering consumer indexing, GIS mapping, metering of distributiontransformers and feeders, automatic data logging of all DTRs and feeders below 33KV.This IT initiative also includes adoption of IT enabled consumer service centre etc.Under this project centralized data centre has been established at Bidhannagar,Kolkata and the disaster recovery centre has been established at Berhamporerespectively. Under this programme, a major part of the initiatives has already beenrolled out. 53 nos. of towns under R-APDRP Part-A were made go-live by 31.03.2013and all 61 towns were made go live by 8.6.2013. WBSEDCL is the first among theutilities implementing R-APDRP Part-A programme, to complete the go live of all itsR-APDRP Part-A towns.

At present, R-APDRP covers only towns and cities with a population of over 30,000.To maintain uniformity in operation, the Company is taking additional measures toimplement the same programme in other areas of West Bengal.

Spot Billing:

During the year spot billing system has been implemented for 224 Customer CareCentres. The spot billing will be rolled out in another 63 Customer Care Centres in2013-14.

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Online Payment of Electricity Bills through Web Portal:

E-payment solution has been introduced in the Company to provide better consumerservice in respect of bill payment through internet by the L&MV consumers. Theconsumers are able to pay their electricity bills at any time at their convenience in theweb portal of the Company. The electricity bills can be paid through the followingpayment modes:

i) Credit Cardii) Debit Card

iii) Internet enabled Bank Account

The online payments are processed through secured payment gateways to protect theinformation.

Video Conferencing:

The Company has implemented Video Conferencing facility between its CorporateHead Quarter and Zonal Manager Offices, Regional Managers Offices and DivisionalManagers offices for better monitoring and visibility of business processes.

Hydel Wing:

A. Running Power Stations:

Installed capacity (MW) : 1076.548 MW

1. Purulia Pumped Storage Project - 4 225 MW ( 900 MW )

2. Teesta Canal Fall Hydel Project - 3 3 7.5 MW (67.5 MW)

3. Rammam Hydel Project, Stage-I - 4 12.75 MW (51 MW)4. Jaldhaka Hydel Project, Stage-I - 4 9 MW (36MW)

5. Jaldhaka Hydel Project, Stage-II - 2 4 MW (8 MW)

6. Massanjore Hydel Project - 2 2 MW (4 MW)

7. Other Small Hydel Projects

(i) Rinchington Hydel Project - 2 1 MW (2 MW)(ii) Little Rangit Hydel Project - 2 1 MW (2 MW)

(iii) Mungpoo Kalikhola Hydel Project - 3 1 MW (3 MW)

(iv) Sidrapong Hydel Project - 3 0.2 MW ( 0.6 MW)

(v) Fazi Hydel Project - (2 .4 + 1 .448 + 1 1.2) MW= 2.448 MW

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B. Generation Achieved against Target :

During 2012-13 Rammam Hydel Project Stage-II crossed the annual generation target(as set by CEA) by 6.56%. The Small Hydel Power Stations in Darjeeling districtsuffered a setback due to severe earthquake in 2011-12. However,the overall totalgeneration from all the Hydel units in 2012-13 increased by 8.98 % than 2011-12.

The repairing work of Mahananda Main Canal has been started by the Teesta BarrageProject Authority, I&WD to accelerate the Generation in Teesta Canal Fall HEP whichis likely to be completed in the financial year 2013-14. The part of the required fund isbeing provided by WBSEDCL.

Generation at a glance :

Name of the Power Stations Generation figure for 2012-13Target fixed by CEA Achieved

Rammam HP, Stage-II209 MU 222.714 MU

(4 x 12.75 MW)

Jaldhaka HPStage-I (4x9 MW) 160 MU 117.762 MU

Stage-II (2x4 MW) capacities are less Under shutdownSmall HP than 25 MW 12.549 MU

PS-I (3x7.5 MW)

Teesta Canal Fall HP PS-II (3x7.5 MW) Do

PS-III (3x7.5 MW) 109.539 MU

Massanjore HP (2 x 2 MW) Do 3.482 MU

Total 466.046 MU

C. Implementation activities of different on-going Project:

The R&M and Augmentation work at Jaldhaka Hydel Project (Stage-I) has beencompleted. One 9 MW capacity new unit has been installed and commissioned. Therenovated & modernized units of JHP, Stage-I are also running steadily.

The entire work of Lodhama Interconnection Scheme under RHP Stage-II wascompleted in the month of January 2012. The scheme has been formally commissionedby the Honble Chief Minister of West Bengal on 29.01.2013.Present status of different schemes:-

l Work of Lodhama Interconnection Scheme under RHP, St.-II has beencompleted.

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l Work of Jaldhaka Augmentation Scheme (1 x 9 MW) completed. The Unit isrunning satisfactorily.

l Renovation and Modernisation work of Jaldhaka Hydel Project Stage-I(3 x 9 MW). Work has been completed (except SCADA). All the units arerunning satisfactorily.

l Rammam Intermediate Stage Hydel Project (2 x 6 MW)-

i) Design & Engineering work is in progress.

ii) Acquisition of land is in process.

l Pedong Small Hydel Project (2 x 1.5 MW)-i) Design & Engineering work is in progress.

ii) Acquisition of land is in process.

l Refurbishment of 2X4 MW Jaldhaka Hydel Project, Stage-II-

(i) Refurbishment work of both the Units are in the final stages ofcompletion. Commissioning of one Unit is expected by September, 2013and the other unit by March, 2014.

D. Ongoing Survey and Investigation Activities for New Hydel Projects :

To enhance the Hydro power / Pumped Storage generation capacity in West Bengalduring the 12th and 13th plan period, the following projects have been taken up fordetailed Survey and Investigation activities.

Status of Detailed Survey and Investigation (DSI) activities:-

Sl.No.

Hydel / PumpedStorage Project

EstimatedCapacityin MW

River/Location

Present activities /

Future programme1. Teesta

IntermediateStage HEP

84 Teesta river,Darjeeling

l Detailed investigation completedl Preparation of Detailed Project

Report (DPR) is in finalizationstage

2. TLDP- I & II(combined) HEP

81 Bari Rangitriver, Darjeeling

l Detailed investigation is incompletion stage

l Preparation of Detailed ProjectReport (DPR) is in finalizationstage

3. TLDP V HEP 80 Teesta river,Darjeeling

l Pre-Feasibility Report (PFR)completed

l 1st Stage TOR clearance byMOEF is awaiting.

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Sl.No.

Hydel / PumpedStorage Project

EstimatedCapacityin MW

River/Location

Present activities /

Future programme4. Rammam

Stage-IHEP

56 Rammam river,Darjeeling

l Prefeasibility Report completedl Detailed Geo-technical

investigation completedl DPR is under preparation

5. Turga PumpedStorage Project

1000 Turga nala,Purulia

l Detailed Survey & Investigationactivities have been taken.

l Local Consultant has beenengaged for preparation ofDetailed Project Report.

l Bidding process is on forengagement of ForeignConsultant for preparation of theDPR in association with LocalConsultant

6. Bandhunala PSP 900 Bandhu nala,Purulia

PFR completed

7. RammamUltimate Stage

24 Rammam &Little Rangit

river, Darjeeling

Draft PFR is under review

8. Farakka BarrageHEP

125 Ganga River/Murshidabad

PFR is (Desk-top Study) underpreparation

E. Purulia Pumped Storage Project :

900 MW (4x225 MW) Purulia Pumped Storage Project was developed at Ayodhya hillsin the district of Purulia with financial assistance of the Japan InternationalCooperation Agency (JICA, erstwhile OECF and JBIC), Japan. The main Projectactivities were started in March 2002 & completed within the Target Schedule of 31December 2007. All the 4 (four) units were put on commercial operation within 2007-2008.

Progress & Achievements during 2012-13:

Total Generation achieved = 797.495 MU Average Cycle Efficiency achieved = 78.22%

Average Plant availability factor achieved = 92.77%

Power Trading And Regulatory :

Power Trading and Regulatory has been classified into the following functions:-

a) Power Trading

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b) Inter utility sale of Powerc) Swap of power through bankingd) Bulk power purchase from Generators / Traderse) All regulatory matters including tarifff) Work of Area Load Despatch Centre

Power Trading :

During the financial year 2012-13 the Company traded/exported surplus energy outsideState /Region to the tune of 1344.333 MU and revenue earned from trading was

509.74 Crore.

Inter utility sale of Power :

During the financial year 2012-13 the Company sold energy to inter utilities (i.e.CESC,DPL,DPSCL & Govt. of Sikkim) to the tune of 2089.22 MU and revenue earnedfrom such sale was 1126.62 Crore.

Sale of power in UI mode:

During the financial year 2012-13 the Company sold power through UI mode to thetune of 379.626 MU and revenue earned from such sale was 75.55 Crore.

SWAP of power through banking :

During off-peak hours the Company mostly has surplus energy. But for a certain periodthere remains a deficit of power. Not only during peak period but also during normalperiod in summer season there is mismatch between generation availability anddemand. Apart from that the situation becomes more difficult due to coal shortage,water scarcity and non-availability of power from State Sector and Central Sector tothe extent of its full share. To mitigate the deficit during such situations the Companyhas decided to go for energy banking through SWAP of power in a reasonable manneror otherwise deficit of power would be mitigated through short term purchase of powerwhich would ultimately increase the overall power purchase cost.During the financial year 2012-13 the Company has banked power through Swap tothe tune of 1089.009 MU.During the financial year 2012-13 the Company has drawn 1263.604 MU power throughswap.

Bulk power purchase from Generators / Traders :

To supplement its own generation, the Company had imported bulk quantum of power

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from Central Sector and State Sector Generating Utilities through long term agreement.The Company also imported some quantum of power from non-conventional energysources to meet its renewable purchase obligation. Besides above, the Company alsopurchased some quantum of power from different electricity traders/ power exchangesto meet the power shortage in the system.

Total quantum of energy imported by the Company during 2012-13 was 33554.455MU.

Besides above the Company also drew power through UI mode to the tune of 549.532MU.

Regulatory :

Performance/Achievement during 2012-13:

1) Application for FPPCA for the year 2011-12 was submitted.2) Application for Annual Performance Review (APR) for the year 2011-12 was

submitted.

Utilisation of Non-Conventional Energy Sources:

Energy purchased by the Company from different non-conventional sources:

Sl. No. Type No. of Contract EnergyGenerator Quantum (MW) Supplied (MU)

2012-13 2012-13 2012-13

a Mini Hydel 2 6.00 17.504

b Bio-mass 2 14.40 0.00

c Co- generation 8 121.10 439.586d Wind 1 2.00 1.116

TOTAL 13 143.50 458.206

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Report on Corporate Governance:

The Company is committed to ensuring sound corporate practices based ontransparency, fairness, professionalism and accountability for building confidenceamong all its stakeholders for achieving sustainable growth and profitability. As part of good governance initiatives, all statutory and other significant and materialinformation are placed before the Board/ Board committees to enable it to dischargeits responsibility pertaining to strategic supervision of the Company as trustees of theshareholders.

A brief report on Corporate Governance is given below:

Board of Directors (Board)

Composition of the Board:

The WBSEDCL Board is a balanced Board, comprising Executive and Non- ExecutiveDirectors. The Non-Executive Directors include independent professionals along withGovernment Nominee Directors.

The composition of the Board of Directors during the financial year 2012-13 was asfollows:

Executive Directors

Name Designation Remarks

Shri Rajesh Pandey Chairman & ManagingDirector

Shri Anirban Guha Director (RT & IT)

Shri Kalyan Kumar Ghosh Director (Finance)

Shri Debidas Datta Director(Generation)

Shri Tapan Kanti Rudra Director (HR) Joined on 04.07.2012

Shri Abhijit Bose Director (Distribution) Ceased on14.11.2012Smt Saswati Banerjee Director (HR) Ceased on 30.04.2012

Non- Executive Directors


Shri Malay Kumar De Government NomineeDirector


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Shri Hari Krishna Dwivedi Government NomineeDirector

Shri Proshanto Banerjee Independent DirectorShri Sunil Mitra Independent Director

Shri Rajat Kumar Majumder Independent Director

Shri S.N.Menon Independent Director Ceased on 13.03.13

Shri Tapan Kumar Majumdar Independent Director Joined on 13.03.13

Chairman

The Chairman & Managing Director is the Chief Executive of the Company. His primaryrole is to provide leadership to the Board for realizing Company goals. He keeps theBoard informed on all matters of importance.

He presides over General Meetings of Shareholders.

Executive Director

The Executive Directors contribute to the strategic management of the Companysbusinesses within Board approved directions/framework. As Directors are accountableto the Board for Business/Corporate functions, they assume overall responsibility forits strategic management, including its governance processes and top managementeffectiveness.

Details of Board Meetings during the financial year

During the financial year 2012-13, eight Board Meetings were held as follows:

Sl. No. Date Board Strength No. of Directors present

1. 05.04.12 12 102. 11.05.12 11 93. 07.06.12 11 74. 29.06.12 11 85. 25.09.12 12 96. 10.11.12 12 87. 21.12.12 11 98. 18.03.13 11 10


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The maximum time gap between two meetings was less than four months. The Boardhas complete access to all the relevant information within the Company.

General Body meetings

Details of General meetings held since last Report is as under:

Meeting Date

5th Annual General Meeting 25.09.2012

Attendance at Board Meetings and Annual General Meeting (AGM), during the year2012-2013 is tabled below:

Director Board Meetings Attendance Other Remarks

Held Attended at last Directorshipduring AGM

the held ontenure 25.09.12

Shri Rajesh Pandey 8 8 Yes 3

Shri Malay Kumar De 8 8 Yes 9

Shri Hari Krishna Dwivedi 8 Nil No 8

Shri S.N. Menon 7 Nil No N.A. Ceased on13.03.2013

Shri Proshanto Banerjee 8 6 No 2

Shri Sunil Mitra 8 6 Yes 8

Shri Rajat Kumar Majumder 8 8 Yes 1

Shri Anirban Guha 8 8 Yes 2

Shri Kalyan Kumar Ghosh 8 8 Yes 1

Shri Abhijit Bose 6 6 Yes N.A. Ceased on14.11.2012

Shri Debidas Datta 8 7 Yes 2

Smt. Saswati Banerjee 1 1 No N.A. Ceased on30.04.2012

Shri Tapan Kanti Rudra 4 3 Yes Nil Joined on04.07.2012

Shri Tapan Kumar Majumdar 1 1 No Nil Joined on13.03.2013

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Board AgendaMeetings are governed by a structured agenda. The Board members, in consultationwith the Chairman, may bring up any matter for the consideration of the Board. Allmajor agenda items are backed by comprehensive background information to enablethe Board to take informed decisions.

Post-meeting follow-up systemThe Governance process in the Company include an effective post- meeting follow-up,review and reporting process for action taken/ pending on decisions of the Board, Boardcommittees.

The Committees of the BoardCurrently there are seven Board Committees the Audit Committee, HRD &Remuneration Committee, Project Appraisal and Monitoring Committee, Contract/Purchases and Procurement etc. Committee, Committee for Recruitment, Appointmentand Promotion in respect of Class-I post, Committee for consideration of appeals againstthe punishment order passed by the Disciplinary Authority and Revenue ProtectionCommittee.The terms of reference of the Board Committees are determined by the Board fromtime to time. Meetings of each Board Committee are convened by the CompanySecretary under the direction of the Chairman of the respective Committees.Signed minutes of the Board Committee Meetings are placed for the information ofthe Board. The matters which required Boards attention/approval are generally placedin the form of notes to the Board.

Audit Committee

The composition of the Audit Committee during 2012-13 was as follows:

Sl. Name of Director Designation Position in the RemarksNo. Committee1. Shri S.N.Menon Independent Director Chairman Ceased as Chairman

on 13.03.20132. Shri Malay Kumar Government Member

De Nominee Director3. Shri Sunil Mitra Independent Director Member4. Shri Rajat Kumar Independent Director Member

Majumder5. Shri Proshanto Independent Director Member

Banerjee6. Shri Hari Krishna Government Member Joined as Member

Dwivedi Nominee Director on 11.05.2012

*Shri Sunil Mitra was appointed as Chairman of Audit Committee on 11.05.2013.

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Chairman and Managing Director, Director (Finance), General Manager (F&A) incharge of Internal Audit are standing invitees in the Audit Committee Meetings.

Meetings and Attendance:

During the financial year ended 31st March 2013, five Meetings of the Audit Committeewere held on 11.05.12, 29.06.12, 25.09.12, 10.11.12 and 18.03.13.

Meetings attended by individual members during the year 2012-13 are detailed below:

Name of Director, Designation Position in No. of Meetingsthe Committee meetings attended

held during his tenure

Shri S.N.Menon, Chairman 4 NilIndependent DirectorShri Malay Kumar De, Member 5 5Government Nominee DirectorShri Sunil Mitra, Member 5 4Independent DirectorShri Rajat Kumar Majumder, Member 5 5Independent DirectorShri Proshanto Banerjee, Member 5 4Independent DirectorShri Hari Krishna Dwivedi Member 5 NilGovernment Nominee Director

HRD &Remuneration Committee

The Remuneration Committee of the Board, under nomenclature of HRD &Remuneration Committee, inter-alia recommends to the Board the compensation termsof Executive Directors, senior level management as well as the employees of theCompany. The Committee also frames Policies and oversees all aspects of HumanResources Development including implementation of best HRD practices on varioushuman resource related matters.

The composition of the HRD and Remuneration Committee during 2012-13 was asfollows:

Sl. Name of Director Designation Position in the RemarksNo. Committee1. Shri Proshanto Independent Director Chairman

Banerjee

48


Sl. Name of Director Designation Position in the RemarksNo. Committee

2. Shri Rajesh Chairman and MemberPandey Managing Director

3. Shri Malay Govt. Nominee MemberKumar De Director

4. Shri Tapan Director (HR) Member Joined as memberKanti Rudra on 25.09.12

5. Shri Sunil Mitra Independent Director Member

6. Shri Rajat Kumar Independent Director MemberMajumder

7. Shri Kalyan Director (Finance & HR) MemberKumar Ghosh (1 meeting)

Director (Finance)(3 meetings)

8. Shri Anirban Director (RT&IT) Member Joined as memberGuha on 14.01.13


During the financial year ended 31st March 2013, four meetings of the HRD andRemuneration Committee were held on 28.06.12, 25.09.12, 10.11.12 and 14.01.13.

Meetings attended by individual members during the year 2012-13 are detailed below:



Shri Proshanto Banerjee, Chairman 4 3Independent DirectorShri Rajesh Pandey, Member 4 4Chairman & Managing DirectorShri Malay Kumar De, Member 4 4Government Nominee DirectorShri Sunil Mitra, Member 4 2Independent Director

49




Shri Rajat Kumar Majumder, Member 4 4Independent Director

Shri Kalyan Kumar Ghosh, Member 4 4Director (Finance)Shri Tapan Kanti Rudra Member 3 2Director(HR)Shri Anirban Guha Member 1 1Director (RT&IT)

Project Appraisal and Monitoring Committee

Every project requiring administrative approval is routed through Project Appraisaland Monitoring Committee constituted by the Board. The Committee is empowered toaccord administrative approval of project cost up to 50 crores. Project cost exceeding

50 crores is routed through the Committee to the Board for approval. Periodicalmonitoring of the approved projects are being made by the Committee and necessarypolicies/ guidelines relating to project proposals are being framed by the Committeefrom time to time.

The composition of Project Appraisal and Monitoring Committee during 2012-13 wasas follows:


1. Shri Rajesh Chairman and ChairmanPandey Managing Director

2. Shri Malay Government Nominee MemberKumar De Director

3. Shri Proshanto Independent Director MemberBanerjee

4. Shri S.N. Menon Independent Director Member Ceased as Memberon 13.03.13

5. Shri Anirban Director (RT & IT) MemberGuha

50



6. Shri Kalyan Director (Finance) MemberKumar Ghosh

7. Shri Abhijit Bose Director (Distribution) Member Ceased as Memberon 14.11.2012

8. Shri Debidas Director (Generation) MemberDatta


During the financial year ended 31st March 2013 two meetings of the Project Appraisaland Monitoring Committee were held on 05.04.12 and 24.09.12.

Meetings attended by individual members

annual report & accounts 2012-13

Documents