TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LTD

(A Government of Tamilnadu undertaking)

Information Handbook under Right to Information Act

(updated on 25-03-2015)
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TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LTD

Regd.Office : 19A, Rukmini Lakshmipathy Road,
Egmore, Chennai - 600 008.

Phone: 28554479/80/84 Fax No. 28553729

Website : www.tidco.com
E-mail : [email protected]

Tamilnadu Industrial Development Corporation Ltd., hereinafter referred to as

TIDCO, was registered under the Companies Act, 1956, as a public limited company with
the Registrar of Companies, Tamil Nadu on 21st day of May 1965. The entire equity shares
issued by TIDCO is continuously held by the Government of Tamilnadu from the date of
inception and hence TIDCO is continuing to be a wholly owned Government of Tamilnadu
Enterprise. TIDCO was established with the following main objectives.

(i) To plan, formulate and execute Projects for setting up of industries or developing
lines of production.

(ii) To promote, establish, execute, manage and administer industries, projects or

enterprises for manufacture and production of plant, machinery, tools,
implements, materials, chemicals substances, goods or things of any description
which in the opinion of the Company are likely to promote or advance the
industrial development of the State of Tamil Nadu.

(iii) To promote and operate schemes for industrial development of the State of
Tamil Nadu and for that purpose to prepare and cause to be prepared feasibility
reports, detailed Project reports market studies, blue prints, statistics and other
relevant information.

(iv) To engage in the processing and manufacture of metals, metallic products,

chemicals, cement, Sugar, yarn, plants, machinery or any other commercial or
industrial products articles and commodities and consumer articles, products &
commodities.

2. TIDCO is promoting large and medium scale industries in Joint Venture in

partnership with private sector companies and individual entrepreneurs either in Joint Sector
or in Associate Sector and TIDCO's participation in the equity capital of Joint and Associate
Sector companies will be restricted to 26% and 2 to 11% respectively. TIDCO also provides
escort services where the promoters don't want TIDCO's equity participation and as a token
of TIDCO's participation, TIDCO invests upto 1% of the equity if it is necessary. Many
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reputed industrial houses of the country, such as, Tata, Birla, MAC Group, JK Group, LMW,
Sakthi Group, Nagarjuna Group, IL&FS and Mahindra Group have set up joint venture units
in association with TIDCO in the State of Tamil Nadu in various fields like Iron & Steel,
Fertilizers, Chemicals, Watches etc.

3. As on 31-3-2014, the total paid-up capital of TIDCO is Rs. 72.03 Crores and TIDCO's
investment in about 109 companies including 32 companies already disinvested is
Rs. 546.75 Crores.

4. Some of the important companies promoted through private and public sector
participation since 1965 being the year of formation of TIDCO are as follows:

Sl.No. Name of the Company Private Promoter Group

1. Titan Industries Ltd Tata Group

2. Tanfac Industries Ltd Birla Group

3. Tamil Nadu Iron Ore Mining Jindal Group

Corporation Ltd

4. TIDEL Park Ltd Hyundai (Main Contractors)

Financial Institutions & Banks

5. Mahindra World City Developers Ltd Mahindra Group

6. Southern Petrochemical Industries MAC Group

Corpn.Ltd (SPIC)
7. Tamilnadu Petroproducts Ltd (TPL)
and Tuticorin Alkali Chemicals Ltd SPIC Group
(TAC)
8. SKM Egg Products Export (India) Ltd SKM Group
9. Tamilnadu Road Development TIDEL
Company Ltd (TNRDC) and IT
Expressway Limited, a subsidiary of
TNRDC.

In the four decades of its existence, TIDCO has emerged as a dependable partner and an
excellent facilitator to potential investors and entrepreneurs in private sector.

5. The main activities of TIDCO at present are as follows:

In its role as the prime development agency of the Government of Tamil Nadu, Tamilnadu
Industrial Development Corporation Limited (TIDCO) endeavours towards a balanced, rapid
and continual industrial growth in the State. TIDCO has pioneered several development
strategies and has successfully adapted itself to the changing industrial and economic
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environment, contributing to the sustained growth of industrial activities in the State. Over
the years TIDCO has been effectively creating viable projects out of investment ideas. It has
also played a leading role in identifying critical deficit in infrastructure and has come up with
schemes to bridge the infrastructural gap. Another Major area of focus for TIDCO is to set up
Special Economic Zones with ultimate objective of wide dispersal of industry within the State
and creation of employment opportunities for the youth in the State.

5.1 Special Economic Zones (SEZs)

In line with the Government’s policy to encourage SEZs, TIDCO is promoting several multi-product
as well as product specific SEZs across the State. TIDCO is assisting the multi-product SEZs /
product specific SEZs to aggregate the contiguous stretches of lands varying between 25 acres
and 2500 acres depending on the nature of the SEZ and in getting the various clearances.

Brief status of some of the major SEZ initiatives are furnished below:

a. TRIL IT-ITES SEZ: TRIL Infopark Limited, the joint venture company, commenced
construction activities for setting up the IT-ITES SEZ with an Integrated International
Convention Centre (IICC) on 25.27 acres of land at Taramani on 15.12.2008. Four Towers
with built up space of 3.4 million sq.ft. have been completed and out of this 3.3 million sq.ft.
space has been leased out. Leading IT companies like HP, Infosys, CTS, Mind Tree,
Scientific Publishing, SITEL, TCS, CISCO, FIDELITY, INAUTIX have taken space in this IT
SEZ. TRIL Infopark Limited proposes to expand the IT space by another 1.2 million sq.ft.
Work on the construction of service apartments and Integrated International Convention
Centre commenced and excavation started. In view of delays in securing certain approvals
and permits which are not attributable to the company, extension of time has been granted
to the company for completing the remaining components of the project by August 2016.

b. AMRL SEZ (Nanguneri) in Tirunelveli District: M/s. AMRL Hitech City Ltd, a JV
Company of TIDCO, is implementing multi product SEZ in an area of about 2500 acres of
land in Nanguneri Taluk, Tirunelveli District. Government of India notified this project in
November 2008 and the SEZ became functional since March 2011. The development of
Phase I of the project in the processing area is in progress and scheduled to be completed
by March 2017. In this SEZ, 19 companies have entered into MoU for allotment of land and
7 units have commenced operation.
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c. M/s. TIDEL Park Coimbatore Limited (TPCL): IT Park IT Park constructed in

Coimbatore at a cost of Rs. 407.40 crores was inaugurated on August 2, 2010 and declared
as an “Operational SEZ” on May 9, 2011. Agreements have been concluded with Seventeen
I.T Companies for lease of 5.3 lakh Sq.ft. The balance 3.60 lakh sq.ft. is expected to be
leased shortly. TIDCO has invested Rs. 28 crores in the equity. Exports from the above SEZ
units was around Rs.380 crores during 2013-14.

d. Food Processing SEZ in Thoothukudi District: M/s. CCCL Pearl City Food Port
SEZ Ltd., a JV of TIDCO, is implementing food processing SEZ in 294 acres of land at an
estimated cost of Rs.132 Crores in Thoothukudi District. Government of India has notified
this SEZ in April 2010. The development of infrastructure for Phase-1 is in progress and is
expected to be completed by March 2016. The company has leased land to seven units, of
which four units have commenced production and exports commenced from May 2011.

e. Perambalur SEZ: GVK Perambalur SEZ Private Limited, a Joint Venture Company
formed by GVK Industries Limited, the developer selected by TIDCO through bidding
process, has procured around 2900 acres of private lands for the multi product SEZ in
Peramablur District. Formal Approval for the SEZ has been received. Feasibility Report,
Topographical Survey and Environmental Impact Assessment Study have been completed.
The Company has paid the land cost for leasing the Government land. TIDCO has
requested the Company to submit the Bank Guarantee of Rs.13.3 crores as per the RFP
document. After leasing / alienating Government lands in favour of the project, the Company
will submit the proposal of DoC for SEZ notification. Earlier, TWAD Board has completed a
detailed investigation for the supply of 45 mld of water from Kollidam river (75 km away) on
depository scheme at an estimated cost of Rs.120 cr. The Project company is willing to
deposit the cost of water supply scheme to TWAD Board. But the final approval from TWAD
on this water supply project is yet to be received. The site development work and
construction work will be taken up after receiving the SEZ notification from Govt. of India.

f. GMR SEZ in Krishnagiri District: GMR Infrastructure Ltd.,(GMR) was selected as JV

Partner through competitive bidding process to implement this project at an estimated
investment of about Rs.2300 Crores, in July 2007. A JV Company viz., GMR Krishnagiri SEZ
Ltd. was formed for implementing this project. Since the land owners were not willing to part
their lands in the area identified by TIDCO and mentioned in the tender, GMR identified
about 2800 acres of lands at an alternate location in the vicinity and procured about 1300
acres of lands on their own by private negotiation. The JV Company requested for transfer of
about 600 acres of Government Poramboke lands through TIDCO to maintain contiguity of
the proposed project area and implement this project. The JV Company has proposed to
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implement this project in phases depending on the availability of contiguous lands. Since
Government of India has revised the minimum area required for multi product SEZ to 500
hectares (1250 acres), the Company proposes to develop the SEZ project in about 1553
acres (comprising 1153 acres of private patta lands and about 400 acres of Government
poramboke lands) and develop a green field Electronic Manufacturing Cluster in about 663
acres. This proposed SEZ area will tentatively focus on Aerospace (Defense), Automobile
and Precision Engineering.

g. Coimbatore IT-ITES SEZ: Rakindo Kovai Township Limited, a Joint Venture

Company of RAKINDO Developers Pvt. Ltd., has completed procurement of land to the
extent of 850 acres for the Integrated Feeder Township with an IT-ITES SEZ project in
Coimbatore District. The total estimated cost for land procurement and other infrastructure
development is around Rs.1400 cr. The site office construction, EIA Study, Market study,
Feasibility study and Master planning have been completed. Construction of a nine hole
Golf Course has been completed. Land conversion orders have been received from
Government. Further progress in this project is reported to be stopped for the time being
due to various reasons including market conditions and financial situation.

h. SEZ for Health Care Sector: The SEZ for Health Care Sector (part of Frontier
Mediville project) being set up by Frontier Lifeline Private Limited at Elavur village in
Gummidipoondi Taluk, Thiruvallur District in an area of 46 acres of land at an estimated
project cost of Rs.188 Crores (revised project cost) has been notified. It is proposed to
develop Sterile Medical Corridor, Medical University, Herbarium, Wellness Centre etc., in the
Frontier Mediville project. In this SEZ, the company has developed a Medical Science Park
comprising research block, administration block, utility block and international training centre.
The Medical Science Park would have wings for training, Research and Development,
Tissue Engineering, Stem Cell Technology and Basic Science Research. The Company is
also developing a Convention Centre and proposes to develop a proposed to develop a Bio-
Hospital in this SEZ.

5.2 Shipyard cum Port Complex at Kattupalli, Thiruvallur District

L&T Shipbuilding Limited, a joint venture of TIDCO and Larson and Toubro Limited has
constructed a Ship building Complex in Kattupalli, in Ponneri Taluk of Tiruvallur District. This
project was inaugurated by the Hon’ble Chief Minister on 30.01.2013. The Shipbuilding
complex has facilities and units for building of Very Large Cargo Carriers, Specialized Cargo
Ships for liquid / gas transportation and Cruise vessels, Building of Defense ships including
Submarines, Offshore Platforms for Oil / Gas sectors, Refitting and Re-engineering of
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commercial and Defense ships, Heavy engineering fabrication and components production
for shipbuilding in Shipbuilding Yard Complex.

A deep water port which is part of this complex serves as the captive marine facility for
shipbuilding and has two container berths with an aggregate container handling capacity of
1.2 Million TEU per year. Both the Shipbuilding yard and the Kattupalli port are in operation.
The company received orders for building eight Offshore Platform Service Vessels. Building
of the first Offshore Platform Service Vessel commenced in March, 2014 and was delivered
to the customer in May,2014. The shipyard also received the first Naval Vessel (INS Jyothi)
on 6th August 2014 for repair / refitting works.

5.3 TICEL Expansion Project – (Bio Park – II)

Bio Park – I & II :- TIDCO invested Rs.2.58 crores in the equity of TICEL Bio Park
Limited for construction of Bio Park-I (1.5 lakh sq. ft.) in technical collaboration with Cornell
University, USA at a cost of Rs.54 crores which is in operation since 2004. Based on the
success of Bio Park I, action was initiated for expansion of the facilities (Bio park II) by 6.13
lakh sq.ft. at an estimated cost of Rs. 150 crores. TIDCO supported the expansion
programme through an equity investment of Rs.20 crores. Bio Park – I enjoys 100%
occupancy and Labs in Bio Park – II have been allotted to five companies. M/s.
Hospira, USA has commenced their operation in January 2014 and others are carrying out
lab fit out works in Bio Park-II. Bio Technology Core Instrumentation Facilities (BTCIF)
which was established in Bio Park -II jointly with the Department of Biotechnology,
Government of India at a cost of Rs. 19.37 crores is in operation for providing scientific
support. As a further initiative in this sector, Government of Tamil Nadu has announced in
the Industries Demand for 2014-15 that TICEL Bio Park – III will be established jointly by
TIDCO & TICEL in 10 acres land in Anna University, Coimbatore at a cost of Rs.55 crores.
The Market Study and Feasibility Study is being done. The Bio Park-III would be
implemented with equity of Rs.20 crores each by TIDCO and TIDEL.

5.4 Rajiv Gandhi Salai (IT Corridor)

IT Expressway Ltd (ITEL), a subsidiary of Tamil Nadu Road Development Company Ltd
(TNRDC) has been entrusted the work of improving and maintaining the Rajiv Gandhi Salai
(IT Corridor). The main carriageway works of Phase I of the project viz. 20.1 KM stretch
from Madhya Kailash Temple Junction to Siruseri and 2.1 KM long Link road connecting
Rajiv Gandhi Salai at Sholinganallur and East Coast Road have been completed. The toll
collection had commenced from 15 th December, 2008. The construction of Service Road
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and Foot Path have been completed except 4 KMs on Right Hand Side, which is nearing to
completion. The total revenue of ITEL is Rs.48.51 crores and the profit is Rs.4.22 crores for
the year 2013-14.

5.5 Electronics Manufacturing Cluster (EMC) in Krishnagiri District: GMR

Infrastructure Ltd (GMR) has proposed to implement a green field Electronics Manufacturing
Cluster (EMC) in about 663 acres (initially in 527 acres) at an estimated cost of about
Rs.920 Crore in Krishnagiri District. Government of India granted in-principle approval to this
project in August 2013 and Detailed Project Report has been submitted for granting formal
approval. TIDCO Board has granted approval to implement this project and approval of
Government is awaited. TIDCO has requested Government to alienate about 67 acres of
Government Poramboke land (part of the lands proposed for SEZ originally) in favour of
TIDCO with a permission to lease these lands in favour of the JV Company. A JV Company
viz., GMR Hosur EMC Ltd was formed to implement this project.

5.6 Integrated Township Project near Sriperumbudur: ETA Star Property

Developers Private Limited, is developing an Integrated Township as the first phase near
Sriperumbudur, Kancheepuram District, comprising commercial, residential, school, hospital,
etc., in an area of about 81 acres of land. The Company has completed developing a
commercial block, 16 residential blocks and a school block in a part of these 81 acres of
land along with the infrastructure required for this part of the project. The Company has
proposed to develop the remaining part of the 81 acres of land subsequently.

5.7 Petroleum Refinery Project of Nagarjuna Oil Corporation Limited

The Joint Venture Company M/s. Nagarjuna Oil Corporation Limited (NOCL), is
implementing the Petroleum Refinery Project at Thiruchopuram in Cuddalore District. The
capacity of this Petroleum Refinery will be 12.0 million tonnes per year. The total investment
in this project is estimated to be about Rs.25,959 crores. In the first phase, the
implementation of 6.0 million tonnes per year capacity unit will be completed in 2016.

5.8 Agri Export Zone (AEZ) for Cashew

Sattva Agro Expo Private Limited, the joint venture company, is setting up the AEZ for
cashew covering the districts of Cuddalore, Thanjavur, Perambalur, Pudukottai and
Sivaganga in three phases at a project cost of Rs. 15 crores. The Cashew Nut Processing
and Common Processing and Pack House has been completed except for minor works at
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Panruti Taluk, Cuddalore District. The operation of Cashew Nut Processing has been
commenced. 360 farmers have been identified as contract farmers. 40
farmers/processors/exporters are utilising the partly created Common Processing and Pack
House facilities. The Phase 1 is expected to be completed by June 2015 and 3000 small
and marginal farmers will benefit under the AEZ Cashew Project.

5.9 Aerospace Park Project

With the view to support the development of Aerospace Industries, the State Government
announced that an Aerospace Park will be established in the State. To achieve the objective
of the announcement, TIDCO has initiated activities including securing SEZ status and
expansion of the existing limited facilities of Taneja Aerospace and Aviation Ltd. in Hosur.
Construction of aircraft painting hanger in Taneja Aerospace Park, Hosur is under progress.
As per the approval of TIDCO Board, development of an aircraft component manufacturing
park in around 300 acres of lands near Sriperumbudhur will be taken up through a SPV
Company. The Techno Economic Feasibility Study has been completed for this project.
SIPCOT has been requested to allocate around 300 acres of land, as per the Government
Order. The allocation of land by SIPCOT is awaited. In the meantime, 6 Aerospace
Companies have expressed their interest to set up their facilities in the Aerospace Park at
Sriperumbudhur. Formation of SPV Company and implementation activities of the project
will be done after the allocation of land by SIPCOT.

5.10 New Initiatives

Various other initiatives being pursued by TIDCO include:

a. The proposal for establishing a Petroleum, Chemicals and Petrochemicals

Investment Region (PCPIR) in the Cuddalore and Nagapattinam Districts has been
approved by the Cabinet Committee on Economic Affairs, Govt. of India in July 2012.
TIDCO and Engineers India Ltd. signed a MoU for development of this PCPIR on
22.03.2012. A Memorandum of Agreement was signed between Department of Chemicals
and Petrochemicals, Government of India and Government of Tamil Nadu on 20.02.2014 for
implementing this project.

b. The proposal for setting up a Plastic Industries Park in Voyalur village (near Ennore
Port) in Thiruvallur District has received, in-principle approval from Department of Chemicals
and Petrochemicals, Government of India in April 2012. A Detailed Project Report (DPR) has
been forwarded to Government of India in January 2013. When fully developed, this park is
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expected to attract investment of about Rs.2,100 crores in about 70 Engineering / High-end

Polymer / Plastic components manufacturing units. Govt. of Tamil Nadu has approved
forming a Special Purpose Vehicle by TIDCO and State Industries Promotion Corporation of
Tamil Nadu Ltd. (SIPCOT) to implement this project.

c. TIDCO and Indian Oil Corporation Limited, a Government of India Enterprise have
signed a Memorandum of Understanding on 04.08.2010 to set up a Liquefied Natural Gas
(LNG) Import Terminal in Kattupalli (near Ennore Port) and related pipeline infrastructure
for transmission of gas to the various demand centres in the State, through a Joint Venture.
Government of Tamil Nadu has extended fiscal incentives to the LNG Terminal and
Regasification facility, Engineering and Design for the LNG Terminal has been completed.
The project has received clearance from Ministry of Environment and Forest, Government of
India. This project is scheduled to commence operations in 2017.

d. A gas based power plant with a captive deep water port for import of Liquefied
Natural Gas through a Floating Storage Regasification Unit has been planned along the
coast, South of Nagapattinam in the Nagapattinam District. This project will be
implemented through a Joint Venture in Associate Sector with a total investment of about
Rs.3,500 crores.

e. TIDCO is taking steps to set up a shipbuilding yard in Thoothukkudi as

announced by the Hon’ble Chief Minister in the Collector’s Conference 2012.

f. A National Investment and Manufacturing Zone (NIMZ) is proposed to be

developed in Ramanathapuram District, under the National Manufacturing Policy 2011.
Hon’ble Chief Minister has announced that TIDCO will take steps to establish this NIMZ and
complete the Feasibility Study in 2014 for forwarding the same to Govt. of India.

g. TIDCO is taking steps to develop an Integrated Financial Services Centre near

Chennai to attract both the domestic and overseas Financial Institutions. The objective of
this project is to promote industrial development by providing financial services required for
the industries to be set up in Tamilnadu. The prospective new location has been identified
for developing this project at Nandambakkam. On allotment of land by Government,
necessary action will be taken by TIDCO for implementing the project.

h. An Integrated Food Irradiation & Services facility has been proposed to set up at
Pillaipakkam, SIPCOT Industrial Park, Kancheepuram District at a project cost of about
Rs.15 crores in association with Isorad Tech Pvt. Ltd., Chennai. The site specific approval
has been obtained by the Isorad Tech Pvt. Ltd.
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i. Solar Power Park: TIDCO is proposing to develop Solar Power Parks to enable to
establish around 1000 MW of Solar Power Park Projects in phased manner in different
locations in association with public and private organization in 5 years period. These
proposed Solar Parks will provide common facilities such as developed lands, roads, water
supply, drainage, dedicated power evacuation facilities, etc. to the independent solar power
producers. In the first phase, TIDCO in association with M/s. Raasi Green Earth Energy Pvt.
Ltd., Bangalore has proposed to establish 100 MW capacity Solar Park Project in
Paramakkudi Taluk of Ramnad District in 500 acres of dry lands. The estimated total
investment for this project is around Rs.900 crores. The Ground Breaking Ceremony was
held on 21.7.2013 and the development of first phase of the project has already been
commenced. The Company has already signed MoU with several companies aggregating to
the capacity of 55 MW. The company has also paid Rs.5.4 cr to TNEB for the construction
of power evacuation facilities. It is expected that Solar Power Plants aggregating to 100 MW
may be commissioned in this Park by March-2015. In addition, the proposals for establishing
300 MW Solar Power Park Project in 2000 acres of land in Manamadurai Taluk, Sivaganga
District and for establishing 100 MW Solar Power Park Project each in Dharmapuri &
Pudhukottai District/ Trichy District are under consideration of TIDCO.

6. Performance of TIDCO Assisted Companies in production

The financial performance of Joint Venture Companies which were operation for the year
2013-14 and 2012-13 is as follows:

Sl.
No. Details For the year
2013-14 2012-13
1. Number of profit earning companies 17 18
2. Number of loss incurring companies 14 13
(Rupees in Crores)
3. Total turnover 16660.29 16745.67
4. Total profit earned by companies under 1 984.98 2036.81
above
5. Total loss incurred by companies under 2 1399.93 555.04
above

7. Fixed Deposits

TIDCO has stopped accepting / renewal of deposits with effect from 15.2.2007.
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1 (a) Total deposits outstanding as on 31.03.2013 is Rs.1.60 lakh

(b) Total deposits outstanding as on 31.03.2014 is Rs.1.18 lakh
2 Total No. of depositors whose deposits have not been 9 depositors
claimed by the depositors as on 31.3.2014 is
3 Total amount due to the depositors and remaining Rs.1.18 lakh
unclaimed as on 31.3.2014.
4 Out of 3 above, the amount of deposits refunded Rs.0.19 lakh
as on 31.07.14
Since the completion of five years from 15.2.2007, there was no live deposit with us. Only
unclaimed deposits are available.

In addition to the above, the following information is also furnished.

i) The particulars of organization, functions and duties:

The Registered Office of TIDCO is at Second and Third Floors, No. 19A, Rukmini
Lakshmipathy Road, Egmore, Chennai - 600 008.The working days are Monday to Friday
and the Office timing is from 10 a.m. to 5.45 p.m. with half an hour lunch break. The
Holidays for TIDCO are as applicable to the Offices of Government of Tamilnadu. TIDCO
has been engaged in the promotion of industries through private participation in the State of
Tamil Nadu.

ii) The Powers, duties of Officers and employees:

TIDCO is managed by the Board of Directors (Board) with the day to day
management being looked after by the Chairman and Managing Director holding full
Additional Charge. The overall management of TIDCO is vested with the Board headed by
the Chairman and Managing Director. The Board delegates its powers suitably to the
Chairman and Managing Director for the smooth and efficient functioning of the organization.
The other Officers and employees perform their duties with such powers as may be
delegated by the Board or the Chairman and Managing Director from time to time.

iii) The procedure followed in the decision making process, including channels of
supervision and accountability

As TIDCO has been registered under the provisions of the Companies Act 1956, the
governing of TIDCO is subject to various provisions of the Companies Act 1956/2013. Under
the provisions of Companies Act, Shareholders of the Company have certain powers and the
Board of Directors have certain powers to manage TIDCO. Since Government of Tamilnadu
 13

is holding entire shares, Government has powers to nominate Directors on the Board of
TIDCO and also to issue instructions from time to time. The Board delegates powers to the
Chairman and Managing Director wherever necessary. The meeting of the Board of
Directors can be convened as many times as may be required and such meetings should
take place atleast once a quarter as per the provisions of the Companies Act. The Chairman
and Managing Director looks after the management of TIDCO on a day-to-day basis and
various Heads of Departments in TIDCO namely one Chief General Manager, four General
Managers and three Development Managers, in all Departments. These officers are
reporting to the Chairman and Managing Director. At present one Chief General Manager is
on deputation to TIDEL Park Limited, for appointment as Chief Executive Officer. These
officers are accountable for the performance of the Departments under their control.

iv) The norms set by it for the discharge of its functions:

Efficiency, integrity, speed in response, Team Work.

v) The rules, regulations, instructions, manuals and records, held by it or under

its control or used by its employees for discharging its functions:

Memorandum and Articles of Association of the Company, Service Rules for the
employees, instructions issued by the Government from time to time.

vi) A statement of the categories of documents that are held by it or under its
control:

The documents held by the company are the various correspondences between the
Companies with the Government / parties / Banks / Others coming in contact during the
course of business besides Service records relating to the Officers and employees.

vii) The particulars of any arrangement that exists for consultation with, or
representation by the members of the public in relation to the formulation of its policy
or implementation thereof:

The suggestions/complaints received from the Public or parties dealing with TIDCO
are given due consideration and the views so expressed are considered in formulation of
Policies or implementation thereof from time to time.

viii) A statement of the Boards, Councils, Committees and other bodies consisting
of two or more persons constituted as its part or for the purpose of its advice and as
to whether meetings of those boards, councils, committees and other bodies are open
to the public, or the minutes of such meetings are accessible for public:
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The Board of Directors is the highest authority comprising of Directors and Chairman
and Managing Director appointed by the Government from time to time. There are various
Committees such as Audit Committee of the Board of Directors and other Committees of
Officers constituted from time to time and the Minutes of the Board / Committee are not open
or accessible to the Public.

ix) A directory of its officers and employees:

Designation Name Contact

Nos.
Addl Chief Secretary / Thiru. C.V. Sankar, IAS 28554421
Chairman & Managing Director (i/c) 28553710
I Development Department
Chief General Manager Thiru P. Shanmugasundaram *
General Manager Thiru B. Elangovan 28553933
General Manager Thiru B. Ramakrishnan 28514576
General Manager Thiru S. Senthikumar 28523911
Development Manager Thiru R. Karthikeyan 28551192
Development Manager Tmt. R. Bhuvaneswari 28554029
Development Manager Thiru. K. Vivekanandan 28592938
* On deputation to TIDEL Park Limited
II Secretarial Department
General Manager & Company Thiru T.K.Arun 28554409
Secretary
III Finance Department
General Manager & Company Thiru. T.K.Arun 28554032
Secretary (Incharge)
IV Personnel & Administration Deparment
General Manager (i/c) Thiru. B. Elangovan 28553933

At present there are 53 employees including the above said officials working in TIDCO.

x) The monthly remuneration received by each of its officers and employees,

including the system of compensation as provided in its regulations:

The monthly remuneration is determined by the respective Scale of Pay, Dearness

and other allowances at the rates of pay and allowances applicable to Government
Servants.
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xi) The budget allocated to each of its agency, indicating the particulars of all
plans, proposed expenditures and reports on disbursements made:

An extract of the financial highlights for the year 2013-14 are given below::

Financial Highlights

During the year under review, total dividend income received was Rs. 6035.61 lakhs.
(Rs. 4936.71 lakhs in the previous year). The dividend income increased by Rs.1098.90
lakhs. (22.26% over the previous year’s receipts). Bulk of the increase in Dividend income
was from Titan Company Limited (additional receipt of Rs. 866.17 lakhs). Other receipts
include, interest income of Rs. 1545.56 lakhs (Rs. 1622.91 lakhs), service charges of Rs.
99.67 lakhs (Rs. 633.70 lakhs) and Lease rent of Rs. 68.76 lakhs (Rs. 64.18 lakhs).
Financial Performance is detailed below.
Year ended 31st March
Details 2014 2013
Provisional
(Rupees in lakhs)

(i) Profit before depreciation and interest 7338.29 9577.52

(ii) Interest Expenses 2427.78 2350.16
(iii) Depreciation 11.96 14.80
(iv) Prior period Adjustments (net) 29.81 -327.14
(v) Profit before tax 4868.74 7539.70
(vi) Provision for taxation 0.00 0.00
(vii) Profit after tax 4868.74 7539.70
(After prior period adjustments)

Financial Performance

8000 7540

R 7000
u 6035
p 6000
e
4937 4869
e 5000
s
3876
4000 3407
i
n
3000 2508 2483 2453
L
2000 1696
a 1343
k
1000 740 634
h 400
s 0 115 0 65 0 100
0
2009 - 10 2010 - 11 2011 - 12 2012-13 2013-14
Year

Profit After Tax Dividend Income Disinvestment proceeds Service Charges

 16

Dividend Income

During this year, TIDCO received dividend income of Rs.6035.61 lakhs from 10 companies
(previous year Rs. 4936.71 lakhs was received from 10 companies).

The Details of Companies from which substantial dividends were received are given below:
Name of the Company Year ended Year
31st March ended 31st
2014 March
2013
(Rs. in lakhs)
Titan Industries Limited 5197.01 4330.84
TIDEL Park Limited 322.50 322.50
Neyvali Lignite Corporation Limited 268.66 0
(Investment made in July 2013)
JSW Steel Limited 123.75 92.81
Tamilnadu Petroproducts Limited 0.00 79.22
Manali Petrochemical Limited 56.06 67.28
Mahindra World City Developers Limited 33.00 11.00
Tamilnadu Newsprint and Papers Limited 30.00 30.00
Other 3 companies (MEPCO, Sicagen and 4.64 3.06
Supreme Petrochem)
Total 6035.61 4936.71

The Company has paid dividend of Rs. 2160.96 lakhs being 30 % on the paid up capital
of the Company (Rs. 7203.17 lakhs) to the Government. As a matter of financial
prudence, the company has transferred 10% of current year’s profits amounting to Rs.
487.00 lakhs to General Reserve.

xii) The manner of execution of subsidy programmes, including the amounts

allocated and the details of beneficiaries of such programmes:

Not applicable

xiii) Particulars of recipients of concessions, permits or authorizations granted by

it:

Not applicable
 17

xiv) Details in respect of the information available to or held by it, reduced in an

electronic form:

Information related to Company Profile / Business is available at www.tidco.com.

xv) The particulars of facilities available to citizens for obtaining information,

including the working hours of a library or reading room if maintained for public use:

Company does not maintain any public library.

vi) The names, designation and other particulars of the Public Information Officer:

Sl.No. Name and Designation

1 Assistant Public Information Officer:

Tmt. N Sheela Devi

Secretarial Officer (Legal)

2 Public Information Officer:

Thiru T K Arun
General Manager & Secretary

3 Appellate Authority:

Chairman and Managing Director

Address:

Tamilnadu Industrial Development Corporation Ltd

Regd.Office : 19A, Rukmini Lakshmipathy Road,
Egmore,
Chennai - 600 008.

Phone: 28554479/80/84

Fax No. 28553729

Website : www.tidco.com
E-mail : [email protected]