Board Meeting

Minutes of the 110^th meeting of Board of Directors of Tripura Forest Development & Plantation Corporation Limited held at the Registered office of the Corporation ,on 30^th  June 2008

            Shri Jashbir Tripura, Chairman of Tripura Forest Development & Plantation Corporation Limited presided over the meeting and welcomed the Directors of the Board present at the meeting as under:

I)          Shri Kajal Ghosh                                              :           Director

II)        Shri Madan Das                                               :           Director

III)       Shri Biplab Sanyal                                            :           Director

IV)       Shri K.K.Raghavan                                          :           Director

V)       Shri Jagdish Singh                                         :         Managing Director

2.         The Chairman also welcomed the following official of the Corporation in attendance.

I)          Shri P.K.Das                                                   :         Executive Director

II)         Shri S.Mukherjee                                           :         Chief  Accounts Officer

III)        Shri  S.Bhattacharya                                       :        Company Secretary

3.         The following Directors could not attend the meeting. Accordingly the leave of absence was granted to them:

i) Shri A.K.Mangotra, Principal Secretary, Finance Department, Government Of Tripura

ii) Shri Anil Garg, Secretary, Revenue Department, Government of Tripura

iii) Shri R.P.Tangwan, Principal Chief Conservator of Forests,  Govt of Tripura

iv) Dr. V.K.Bahuguna, Technical Expert (Forestry)

v)  Shri R.K.Dey, Chief Conservator of  Forest (Central)

vi) Shri Nirode Saha

4.         The Managing Director with the permission of the Chair presented the agenda for consideration by the Directors of the Board. The Board after due deliberation adopted the following resolutions.

Resolution No.1: Confirmation of the minutes of 109^th meeting of the Board of Directors.

The Board resolved to confirm and approve the minutes of the 109^th Board Meeting.

Resolution No 2: Action Taken Report on the minutes of the 109^th Board meeting.

The Board perused the action taken report and resolved that the following matters shall be placed for review by the Board in its next meeting:

a.                   A more comprehensive guidelines for setting up the Worker’s Welfare Fund clearly specifying terms of repayment, rate of interest, the composition of the Executive Committee , specification of the assets for which the loan may be given and the amount of fund expected to be mobilized etc.

b.                  The detail report on the optimum requirement of manpower for the different offices /centers depending on the area of plantation, present and future workload along with the action plan for the recruitment of personal for different post. 

Resolution No-3: Approval of the Final Accounts for the year ended 1999-2000.

The board discussed the Final accounts for the year ended 1999-2000 in detail and approved the same for forwarding it to the Statutory Auditor for the statutory Audit of the same.

Resolution No-4: Approval for availing Internet Banking Facility for the Current A/c with IDBI Bank Ltd

The Managing Director informed the Board that as per the new rule of Income Tax Act the payment of Income Tax has been made mandatory for all the corporate assessee. TFDPC Ltd being a corporate asseessee is also required to pay Income tax online through the Internet banking. Accordingly TFDPC Ltd is required to avail Internet banking facility for it’s  CD account with IDBI Bank Ltd.   

After the discussion the Board approved the proposal of availing the internet banking facility for the CD account with IDBI Bank Ltd and passed the resolution enclosed herewith in the prescribed format provided by the IDBI Bank Ltd. 

Miscellaneous Item

Resolution No-5: Revision of wages for the workers

The Board discussed the requirement of increasing the daily wages of the workers considering the present inflation rate. After due deliberation over the issue   it was resolved to increase the daily wages of all the workers by 15% with effect from 15th July 2008.

Resolution No-6:  Deployment of Forest Protection Guard

The members of the board expressed their concern over the protection of the garden from theft as the Project Guard of the Corporation are not adequately equipped enough to protect the garden accordingly it was resolved that the possibility of deployment of Forest Protection Guard or establishing some police camp in the some of the mostly disturbed areas may be explored in consultation with the Forest Department and The Govt of Tripura.

Resolution No-7: Cash Payment to the workers for the hunting shoes.

The Managing Director informed the Board that at present the Corporation is providing hunting shoes to the workers. After the due deliberation it was resolved to pay Rs 150/- per annum to each workers for purchasing the hunting shoes.  instead of giving the same in kind.

Resolution No-8: Intensive Training for the workers

The members of the Board stressed upon the need of the extensive training to increase the efficiency of the workers. During the discussion it was felt necessary to do repair work of Shovapur training center and it was resolved that the first floor of the training institute/office should be demolished in order to save the ground floor of the center. The Board also resolved to arrange training for the women tappers at the center it’self and make payment to each of them an amount of   Rs 20/- per day as the stipend.

 Vote Of Thanks:

There being no other business the meeting was concluded with the vote of thanks to the Chair.  

S/d 

                                                                                                        Chairman

                                                                                                  (Jashbir Tripura)  

                                                                                                      TFDPC  Ltd

Office of the Managing Director

Tripura Forest Development & Plantation

Corporation Limited

Agartala.

No.F 4-9 /Gen/TFDPC/2006                                 Date:

Copy to:-

1. The Chairman, TFDPC Limited, Agartala.

2. All Directors of the Board of Tripura Forest Development and Plantation Corporation Limited, Agartala.

3. The Project Manager, TFDPC Ltd.

4. The General Manager, TFDPC Industrial Estate, Anandnagar.

5. Divisional Manager, Forest Corporation Division, Sadar, South-I/South-II/ Takmacharra Factory Division/North.

6. Office Supdt. of this office.

7. All Section in charge of this office.

                                                                                                              Jagdish Singh

                                                                                                            Managing Director 

Chairman placed before the meeting a copy of the terms and conditions for Internet Banking of IDBI Ltd initiated by the Chairman in the terms the Bank offers its Internet Banking/Payment of DGFT License fees and Tax facility to its account holders.

It was also noted that the internet is per se susceptible to frauds, misuse, hacking and other actions which could effect the Internet Banking facility, services and transactions there under leading to situation of possible loss, which the Bank does not warrant any safety for and for which the Company has made its independent assessment.

It was also noted that under the Internet Banking facility, the User(s) designated by the Company shall have independent and unlimited authority to operate all the accounts in the name of the Company.

After due deliberation, it was

RESOLVED that the Company do request for and avail from IDBI Ltd (the Bank), Internet banking facility in terms of the Bank’s Terms and Conditions for Internet Banking facility initialed by the Chairman or on such  other terms  and conditions as may be specified by the Bank.

FURTHER RESOLVED that in order to request for and avail from the Bank the aforesaid Internet Banking facility, the following of  the Company’s Official be and hereby authorized to complete as the  Company’s authorized signatory the application for such Internet Banking facility and submit the same to the Bank in order to avail Internet Banking facility offered by the Bank and to execute the necessary documents, agreements if required by the Bank in this connection and that the common seal of the Company be affixed wherever necessary in the presence of Mr. JAGDISH SINGH  MANAGING DIRECTOR and Mr.Sanjay Bhattacharya , the Company Secretary  of the Company in terms of Articles of Association of the Company. 

FURTHER RESOLVED that the following official are authorized severally for operating the said Internet Banking facility of IDBI Ltd. for payment of DGFT License  fees and taxes is a part of the existing transaction limit.

FURTHER RESOLVED that the User  as above be and hereby authorized to do through Internet Banking facility of the Bank, all operations, transactions and acts, on behalf of the Company and so as to bind the Company including but not limited to the following ;

• To avail from the Bank any or all services under Internet Banking Facility.
• To access and view the Company’s accounts with the Bank.
• To request, obtain and receive cheque book. 
• To issue stop payment instructions in respect of the cheques issued by the Company.
• To withdraw or transfer money from the Company’s accounts.
• To generally do all acts as an independent attorney of the Company with unlimited authority.
• To make request to and receive from the Bank statement of the Company’s accounts with the Bank.

FURTHER RESOLVED that the above mentioned Authorized signatory of the Company shall have the authority to do all acts on behalf of the Company and so as to bind the Company in relation to the Internet Banking Facility of the Bank, including to enter into, make, sign, seal, execute, deliver, acknowledge and perform any agreement, deed, writing or thing.