Annual Report 2020-TIIC

THE TAMILNADU INDUSTRIAL INVESTMENT
CORPORATION LIMITED
REGD. OFFICE: ‘MHU’ COMPLEX, 692, ANNA SALAI,
NANDANAM, CHENNAI - 600 035.
SEVENTY FIRST
ANNUAL REPORT AND STATEMENT OF ACCOUNTS
MARCH 31, 2020
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CONTENTS
S.No. Particulars Page
1. BOARD OF DIRECTORS 5
2. SYNOPSIS OF BALANCE SHEET 6
3. YEARS AT A GLANCE 7
4. NOTICE TO THE SHAREHOLDERS 8
5. REPORT OF THE BOARD OF DIRECTORS 9
6. INDEPENDENT AUDITOR'S REPORT TO SHARE HOLDERS 48
7. BALANCE SHEET 54
8. PROFIT AND LOSS ACCOUNT 55
9. SCHEDULES TO BALANCE SHEET 57
10. SCHEDULES TO PROFIT & LOSS ACCOUNT 67
11. NOTES FORMING PART OF PROFIT AND LOSS 69

ACCOUNT AND BALANCE SHEET
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Board of Directors
as on 24.11.2020
1. Thiru N, Muruganandam, IAS.,

Principal Secretary to Government
Chairman, TIIC, Industries Department, Government of Tamilnadu
2. Tmt. Sigy Thomas Vaidhyan, IAS.,
Managing Director
The Tamilnadu Industrial Investment Corporation Limited
3. Dr. K. Gopal, IAS.,
Principal Secretary to Government
MSME Department, Goverment of Tamilnadu
4. Tmt. Reeta Harish Thakkar, IAS.,
Special Secretary to Government
Finance Department, Government of Tamilnadu
5. Tmt. E. Sundaravalli, IAS.,
Additional Secretary to Government
Industries Department, Government of Tamilnadu
6. Thiru Satyaki Rastogi
General Manager
Small Industries Development Bank of India (SIDBI)
7. Thiru S. Anburajan
Independent Director
8. Dr. G. Santhanam, IAS (Retd.)
9. Thiru S. Rajendiran
10. Thiru D. Srinivasan
Auditors
M/s. Vardhaman & Co.
Chartered Accountants
Chennai
Principal Bankers
Indian Bank
Union Bank of India
Canara Bank
State Bank of India
5
SYNOPSIS OF BALANCE SHEET
Rs. in lakhs
As on 31.03.2019 CAPITAL & LIABILITIES As on 31.03.2020
37,600 Paid up Capital 42,100
25,443 Reserves & Surplus 28,041
1,250 Loan in lieu of capital 1,250
31,647 Deposits 27,814
15,000 Bonds 15,000
— Refinance from SIDBI —
23,996 Line of Credit – Banks 16,253
22,220 Other Liabilities 18,841
157,156 Total 149,299
PROPERTY & ASSETS
15,377 Cash & Bank Balances 13,300

4,829 Investments 3,614
109,741 Loans & Advances 104,737
17,292 Fixed Assets 17,250
9,917 Other Assets 10,398
— Profit & Loss A/c —
157,156 Total 149,299
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YEARS AT A GLANCE Rs. in lakhs
As on March 31st
RESOURCES
2019 2020
Share Capital 37,600 42,100

Reserves & Surplus 25,443 28,041
Loan in lieu of Capital 1,250 1,250
Bonds 15,000 15,000
Deposits 31,647 27,814
Refinance from SIDBI — —
Line of Credit – Banks 23,996 16,253
FINANCIAL HIGHLIGHTS 2018-2019 2019-2020
Gross Income 21,450 18,191

Financial cost 7,179 5,660
Establishment and administrative expenses 6,645 5,394
Other provisions / writeoff 2,518 3,109
Net Profit before tax 5,108 4,028
Net Profit after tax 3,653 3,019
2018-2019 2019-2020
OPERATIONS No. Amount No. Amount
(i) Total assistance sanctioned

(All types gross) 920 69,743 994 85,886
(ii) Amount of assistance disbursed — 51,216 — 55,708
(iii) Amount of assistance outstanding
(All types) — 112,188 — 107,227
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THE TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITED
692, Anna Salai, Nandanam, Chennai - 600 035
NOTICE is hereby given that the 71st Annual General Meeting of the Company will be held
at the Registered Office at No.692, Anna Salai, Nandanam, Chennai 600035 on Monday, the
21st December, 2020 at 4.00 pm to transact the following business both by physical presence and
through video conferencing.
I. ORDINARY BUSINESS:
a) To receive, consider and adopt the Audited Financial Statement of the Corporation for
st
the Financial Year ended 31 March, 2020 and Reports of the Board of Directors and
Auditors thereon.
b) Declaration of dividend.
c) To transact other business of which due notice is given to the company.
(By order of the Board)
Place : Chennai-35 D. DURAIRAJ

Dated : 24.11.2020 COMPANY SECRETARY
N.B. A member entitled to attend and vote, may appoint a proxy to attend and vote instead of himself and
a proxy need not be a member of the company. The instrument appointing the proxy should, however,
be deposited at the registered office of the company not less than forty eight hours before the
commencement of the meeting.
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REPORT OF THE BOARD OF DIRECTORS
The Board of Directors takes immense Monetary Fund (IMF) to contract sharply
pleasure in presenting the 71st Annual Report by -3% in 2020, much worse than during
of the Corporation along with Audited Balance the 2008-09 financial crisis. In a scenario
Sheet as at 31.03.2020 and Profit & Loss which assumes that the pandemic fades
Account for the financial year ended 31st in the second half of 2020 and
March 2020. The highlights of performance for containment efforts can be gradually
the financial year 2019-20 are given below. eased, the global economy is projected
to grow by 5.8% in 2021 as economic
Highlights activity normalizes, helped by policy
• The Corporation has registered net profit support. The IMF projections for growth in
for the seventeenth consecutive year. Indian economy are as under:
For the Financial year ended 31.03.2020,
it has made a net profit of Rs. 30.18 crores India - Growth Projections
against Rs.36.53 crores last year. 2019 2020 2021
• The Operating Profit (profit before write- 4.2% 1.9% 7.4%
off of loans and Taxes) for the financial
year 2019-20 is Rs.71.38 crores as against The Economic Survey tabled by the
Rs.76.25 crores during the last year. Government of India earlier had projected
India's economic growth at 6 to 6.5% for the
• The total loan portfolio for the financial
year 2020-2021. The National Statistical Office
year 2019-20 stood at Rs. 1,072.27 crores.
(NSO) had also earlier estimated India's GDP
• Standard Assets for the financial year growth at 5% during 2019-20.
2019-20 is Rs.978.86 crores as against
Rs.1,052.66 crores during last year. 1.1. Credit Flow 2019-20
• The Gross NPA as on 31.03.2020 increased During the financial year 2019-20, the
to 8.71% as against 6.17% during the last credit off take in the country grew by 13.29 per
year. Likewise, the net NPA as on cent. However during the financial year
31.03.2020 increased to 6.54 % as against 2020-21, Bank credit growth decelerated to an
4.08 % during the last year. over five-decade low of 6.14 per cent in the
fiscal ended March 31, 2020, amid a faltering
• The Capital Adequacy Ratio has economy, lower demand and risk aversion
increased to 47.87% as on 31.03.2020 as among banks. In the week ended March 27,
against 40.25 % in previous year i.e. 2020, advances stood at Rs 103.71 lakh crore,
31.03.2019. according to Reserve Bank of India (RBI) data.
• Gross recoveries is Rs. 751.86 crores, for
2019-20 as against Rs.999.70 crores during
2018-19.
1.0 Economic Scenario:
• The COVID-19 pandemic which has
triggered the Great Lockdown is inflicting
high and rising human costs worldwide,
and the necessary protection measures
are severely impacting economic
activity. As a result of the pandemic, the
global economy, is projected in World
Economic Outlook (WEO) of International
Fast food and sweets unit at Chidambaram
9
RBI had said credit growth is likely to remain manufacturing hub for Electrical
modest, reflecting weak demand and risk Vehicles, components and charging
aversion due to the disruptions caused by the infrastructure.
corona virus pandemic.
• Tamilnadu Startup and Innovation Mission
On a year-on-year (y-o-y) basis, non-food (TANSIM) is being implemented by the
bank credit growth decelerated to 7.6% in State in order to create and nurture at
March 2020 from 12.3% in March 2019. Credit least 500 startups in 2020-21 with an
growth to industry decelerated to 1.4% in allocation of Rs.75 crores.
March 2020 from 6.9% in March 2019. Credit
growth to the services sector decelerated • The Government has approved the
sharply to 8.5% in March 2020 from 16.4% in establishment of a Mega Food Park in an
March 2019. area of 53.36 acres at Gangaikondan,
Tirunelveli district. Further 8 more Agro
1.2. Tamilnadu Economy Processing Clusters are proposed to be
established in Theni, Dindigul, Krishnagiri,
• The Gross State Domestic Product growth Tiruvannamalai, Salem, Cuddalore,
has been estimated at 7.27% during Villupuram and Madurai districts during
2019-20 which is significantly higher than 2020-21 under the Pradhan Mantri Kisan
the projected national growth rate of 5% SAMPADA Yojana (PMKSY).
and the State is poised to enter a higher
growth trajectory in the coming years. • The Defence Industrial Corridor Project,
The Gross State Domestic Product of with nodes at Chennai, Hosur, Salem,
Tamilnadu for 2020-21 (at current prices) Coimbatore and Trichy and investments
is projected to be 13% higher than the worth Rs.3,123 crore was launched
revised estimate for 2019-20. (As per recently by the Government of India. The
Tamilnadu Government Budget). State Government has provided further
fillip to this project by unveiling the
• Investments worth Rs.52,075 crore Tamilnadu Aerospace and Defence
generating employment for 32,405 Industrial Policy, 2019, which provides
persons have been approved by the attractive incentive packages to this
Government of Tamilnadu, which sector.
includes a Rs.49,000 crore investment in a
petroleum refinery and petro-chemical • Tamilnadu has been witnessing rapid
complex near Thoothukudi. implementation of business reforms (Ease
of doing business initiative), to render the
• The Government unveiled Tamilnadu State the most favourable investment
Electric Vehicle Policy in 2019, with the destination in the country.
objective of positioning the State as a
PERFORMANCE OF TIIC:
The performance of TIIC in terms of
various Financial Parameters is furnished below:
Profit:
The Total income of the Corporation for
the Financial Year 2019-20 is Rs. 181.91 crores as
against Rs. 214.50 crores, achieved during the
Financial Year 2018-19. The Corporation has
registered a net profit of Rs. 30.18 crores in the
financial year 2019-20 as against the net profit
of Rs. 36.53 crores recorded during last year.
Fishnet unit at Nagercoil
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Dividend: • The Corporation has achieved 81.80% of
Term loan Sanction target and 62.97% in
The Board has recommended a Dividend
respect of Term loan Disbursement
of 1% for the financial year 2019-20, which is
target. In respect of Bill finance, 51.12% of
same as that of previous year viz 2018-19.
sanction and disbursement Target have
Capital/ Reserves: been achieved.
• Net Capital and Reserves was Rs. 630.43 • The Corporation has achieved growth
crores as on 31-03-2019 and it has rate of 31.61% in respect of Term loan
increased to Rs. 701.41 crores as on sanction and 13.67% in respect of Term
31-03-2020 due to increase in net profit loan disbursement as compared to the
during the current year. Capital previous financial year 2018-2019.
Adequacy Ratio has increased from Strategies adopted to improve the
40.25 % in 2018-19 to 47.87 % in 2019-20. performance:
Loans and Advances: • Continuous Implementation of Special
• The Corporation has achieved the Schemes like Privileged Customer
following performance in respect of Scheme, EFS Fast Track, Medical Practi-
sanction and disbursement for the FY tioners Scheme, Thulir Scheme etc.,
ending 2019-20 as against the • Introduction and continuous implemen-
performance in the FY 2018-19. tation of enhanced 6% interest subven-
tion from existing 3% to Micro and Small
Table-1. Operational Performance of the
enterprises provided by Government of
Corporation
Tamilnadu, due to which our lending in-
(Rs. in crores)
terest rates are competitive, as com-
LOAN 2019-20 2018-19 pared to Commercial Banks.
SANCTIONS 858.86 697.43 • Introduction and continuous implemen-
DISBURSEMENTS 557.08 512.16 tation of enhanced MSME Capital Sub-
sidy from 30 lakhs per unit to 50 lakhs per
RECOVERY 751.86 999.70
unit by Government of Tamilnadu.
Table-1A. Performance in Working Capital • Deployment of new Marketing Executives
Term Loan and Bill Finance Scheme on contract basis, in various regions for
(Rs. in crores) exclusive Business canvassing.
WCTL BFS • Creation of region wise exclusive Ap-
praisal Cells to ensure reduced lead time
2019-20 2018-19 2019-20 2018-19
for sanction.
Sanction 38.86 60.39 204.47 201.96
Other Initiative during the year 2019-20:
Disbursement 13.75 39.81 204.47 201.96 • Special Offer Week Campaigns was or-
Tabe 1-B: ganized during July 2019 at all Branches
and Field Offices of the Corporation to
The details of performance in respect of give thrust for sanction and disbursement
Sanction and Disbursement achieved for the from the beginning of the financial year.
FY 2019-20 as against the performance made As an outcome of this, we have received
during the FY 2018-19 are given below: 205 applications for Rs.237.65 crore. Of
(Rs. in crores) this, 122 applications to the tune of
Rs.109.87 crore, were sanctioned.
PARTICULARS 2019-20 2018-19
• Once again during fourth quarter of the
Sanction - Term loan 654.39 495.47 financial year, in select branches where
- BFS 204.47 201.96 there is scope for business growth,
Disbursement - TL & WCTL 352.61 310.20 Business Boost Campaigns (BBC), were
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organized during January 2020 at which associations, Chartered accountants,
Rs.319.85 crore worth of applications Machinery suppliers. MoU signed with
were received. Of this, 125 applications TANSTIA for fee-based referral of
to the tune of Rs.81.51 crore have been customers to TIIC
sanctioned.
• To popularize the 6% interest subvention
• To specially focus on improving sanctions scheme, the Corporation released
under NEEDS Scheme, September, newspaper advertisement in leading
October, November & December 2019 Tamil Daily 'Dina Thanthi' and also
were observed as NEEDS months. erected advertisement arches outside all
Concession was given to the applicants its office premises.
by way of waiver of processing fee
Flow of Loan Applications:
during this period. During this period, 52
applications to the tune of Rs.29.98 crore The Statement of flow of Loan
were sanctioned. Applications disposed of during the year is
furnished in Table-2 below:
• The Corporation's schemes were show-
cased and senior level representation / Table-2. Disposal of loan applications
participation were made in various (Rs. in crores)
events/exhibitions / annual conferences
like, STICON 2019, AIDAT, TiE, THE RISE, Sanctions
Sl. Particulars 2019-20 2018-19
WEWA, CODISSIA, EEDISSIA, DEFEXPO, No. No. Amt No. Amt.
46th India Tourist & Industrial Fair 2020 at
Island Grounds, Chennai-9. 1 Applications pending at the
beginning of the year 104 107.03 61 47.58
• Advertisements were released in industry 2 Applications received during
magazines and industries association the year 1,385 1,265.59 1,190 976.45
journals to improve the Corporation's TOTAL 1,489 1,372.62 1,251 1,024.03
visibility amongst entrepreneurs.
3 Applications disposed off
• Digital Marketing and social media during the year
presence in Face Book, Twitter, Quora, a) Gross Sanctions (All types) 994 858.86 920 697.43
Youtube through a professional digital
b) Closed, Withdrawn etc. 240 226.22 227 229.57
marketing agency.
4 Applications pending at the
• The website of TIIC was redesigned for end of the year 255 287.54 104 107.03
easy customer interface and launched TOTAL 1,489 1,372.62 1,251 1,024.03
by the Hon'ble Minister for Industries
• Business promotion meetings with industry
Hosiery Needles, Press Tools, Jigs and Industrial gloves, masks unit at Hosur
Fixtures unit at Hosur
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Scheme-wise performance
The Corporation has formulated many Loan Schemes to fulfill the requirements of various
categories of beneficiaries. The Table-3 below, furnishes data on Scheme wise Sanction and
Disbursement during the year 2019-20.
Table-3. Scheme-wise Sanctions and Disbursement during 2019-2020
(Rs. in Crores)
Description Sanctions (Gross) Disbursement
No. Amt. Amt.
Micro / Small Enterprises Funding scheme 6 1.00 5.06
Equipment Finance Scheme 0.50
Textile Industry Under Technology Upgradation (RTUF) scheme 2.11
Wind Mills 2 11.10 1.29
Generator
Transport operators
Medical Practitioners / Hospitals 11 4.36 1.72
Single Window Scheme Term Loan 6 4.45 7.07
Hotels 3 7.85 0.19
Working Capital Loans
a. WCTL General /Single Window 6 1.99 6.00
b. Working Capital Term Loan Scheme 53 27.58 10.13
c. Job Work 12 4.07 1.89
d. Bill Finance Scheme 43 204.47 204.47
Open Term Loans 110 68.65 1.16
Entrepreneur Development Scheme (EDS)
New Entrepreneur & Enterprise Scheme (NEEDS) 110 66.08 41.33
Others 632 457.25 274.18
TOTAL 994 858.86 557.09
High quality apparels-readymade garments with sustainably produced fibers unit at Krishnagiri
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DISTRICT-WISE DEPLOYMENT OF CREDIT:
The Table-4 below, furnishes data on distribution of TIIC's credit in the districts wherein it
is observed that the Districts of Chennai, Coimbatore, Kancheepuram, Thiruvallur, Erode, Trichy
and Madurai recorded high credit absorption cumulatively.
Table-4. District-wise deployment of Credit
(Rs. in Crores)
Sanctions Cumulative
Sl. Name of the District 2019-2020 2018-2019 Sanctions
No. Upto 31.03.2020
No Amt. No Amt. No Amt.
1 Ariyalur 8 4.95 3 2.36 114 38.71
2 Chennai 33 149.29 23 17.74 16,215 3,007.42
3 Coimbatore 98 85.00 104 50.14 13,893 2,172.87
4 Cuddalore 28 9.99 36 10.61 4,700 259.43
5 Dharmapuri 20 11.39 22 10.53 5,318 347.00
6 Dindigul 25 16.70 21 14.38 2,702 464.19
7 Erode 43 74.48 37 162.9 3,705 1,199.23
8 Kancheepuram 64 51.24 62 55.78 9,453 1,786.97
9 Kanyakumari 48 34.97 34 19.88 3,960 616.47
10 Karur 19 10.47 10 7.12 892 228.13
11 Krishnagiri 115 71.33 89 56.05 1,264 594.96
12 Madurai 37 17.19 30 12.34 10,107 676.37
13 Nagapattinam 8 2.56 4 0.91 724 56.82
14 Namakkal 13 9.14 25 12.77 1,090 202.78
15 Perambalur 4 2.61 2 1.38 163 27.40
16 Pudukkottai 12 5.92 28 9.48 3,509 299.97
17 Ramanathapuram 5 1.91 10 2.99 3,807 151.16
18 Salem 20 14.12 19 12.71 6,193 618.44
19 Sivaganga 9 4.67 15 4.28 1,955 181.98
20 Thanjavur 20 11.62 20 7.49 4,248 257.18
21 The Nilgiris 0 0 170 8.12
22 Theni 4 5.32 5 5.92 740 89.24
23 Thiruvallur 90 74.55 91 59.17 3,414 1,534.42
24 Thiruvannamalai 7 2.45 10 2.67 1,189 94.17
25 Tirunelveli 47 26.85 27 13.76 5,014 406.30
26 Tiruppur 53 38.42 42 25.84 620 353.16
27 Thiruvarur 2 0.80 3 0.42 371 40.36
28 Tiruchirappalli 42 53.12 21 62.84 6,160 722.40
29 Thoothukudi 41 21.47 49 17.98 3,222 541.65
30 Vellore 14 10.87 25 11.65 4,569 306.83
31 Villupuram 29 14.59 14 5.92 1,178 255.33
32 Virudhunagar 36 20.87 39 19.42 3,831 593.02
33 Pondicherry Union Territory 0 0 47 6.46
TOTAL 994 858.86 920 697.43 124537 18138.95
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INDUSTRY-WISE DISTRIBUTION OF CREDIT:
The Table-5 below, shows industry-wise distribution of credit in the Corporation's advances:
Table-5. Industry-wise distribution of Credit

(Rs.in Crores)
Description Sanctions (Gross) Cumulative Sanctions
2019-20 2018-19 upto 31.03.2020
No. Amt. % No. Amt. % No. Amt. %
1 Food Processing Industry 165 136.71 15.92 144 64.96 9.31 11,773 1,849.15 9.91
2 Sugar Factories & Refineries 14 5.51 0.64 0 0 0 51 160.37 0.90
3 Paper & Paper Products including
Printing & Publishing 34 84.41 9.83 46 24.83 3.56 5,700 784.04 4.05
4 Textiles 87 73.16 8.52 68 47.59 6.82 8,891 1,949.74 10.86
5 Chemical & Chemical Products 10 5.06 0.59 10 3.89 0.56 4,347 315.47 1.80
6 Leather & Leather Products 7 4.54 0.53 8 5.29 0.76 1,118 202.33 1.14
7 Non-metalic Mineral Products except
products of Petroleum & Coal 2 2.49 0.29 45 20.02 2.87 1,973 704.18 4.06
8 Engineering (incl. Auto Components) 220 111.49 12.98 321 187.22 26.84 9,265 2,659.07 14.74
9 Electrical Machinery, Apparatus
Appliances and Supplies 0.00 20 19.68 2.82 1,632 2,219.96 12.85
10 Electricity, Gas and Steam (Windmill) 2 11.10 1.29 1 2.76 0.4 149 515.99 2.92
11 Transport Equipments 0 0.00 0.00 0 0 0 474 45.71 0.26
12 Hotel Industries 8 16.53 1.92 13 8.22 1.18 1,105 335.51 1.85
13 Transport including Fishing Trawlers 9 4.46 0.52 11 2.38 0.34 47,544 715.41 4.11
14 Information technology 4 1.58 0.18 1 0.06 0.01 86 28.23 0.15
15 Misc. Industries not elsewhere classified 432 401.82 46.79 232 310.53 44.52 30,390 5,315.83 28.43
16 Loans to Govt. Corporations 0 0 0.00 0 0 0 9 338.00 1.96
TOTAL 994 858.86 100.00 920 697.43 100.00 124,537 18,138.95 100.00
Insulated Copper and Aluminium Conductors Medical fabrics and hospital garments unit
at Hosur at Karur
15
16
17
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DISBURSEMENT: Table-6. Loan Portfolio
During the year under report, the (Rs. in Crores)
Corporation disbursed Rs. 557.08 crores. The ASSETS 2019-20 2018-19 2017-18 2016-17
cumulative disbursement upto 31.03.2020 STANDARD 978.86 1,052.66 1,326.55 1,533.70
(since inception) is Rs.13,997.03 crores,
SUB-STANDARD 63.69 26.32 50.76 31.25
extended under various schemes.
DOUBTFUL 19.67 31.35 76.56 101.08
Subsidy: LOSS ASSETS 10.05 11.55 15.35 3.74
TIIC, being the operating agency for TOTAL 1,072.27 1,121.88 1,469.22 1,669.77
many incentive schemes of the Central and WRITTEN OFF 264.51 265.53 236.77 214.02
State Governments, actively processed and Total Performing
released subsidies effectively to eligible Assets (PA) 978.86 1,052.66 1,326.55 1,533.70
entrepreneurs in 2019-20 as follows: Total Non-Performing
Assets (NPA) 93.41 69.22 142.67 136.07
i) Details of Government Scheme on 3%/6% % of Performing Assets
Interest Subsidy to TIIC borrowers: to total advances 91.29 93.83 90.29 91.85
% of NPA to Total
During the year 2019-20, the Corporation advances
disbursed a sum of Rs.25.89 Crores under 3% / (Gross NPAs) 8.71 6.17 9.71 8.15
6% Interest Subvention Scheme for MSME loans % of Net NPA to( Net)
and Rs.1.64 Crores under 3% interest advances 6.54 4.08 6.56 5.82
Subvention Scheme for NEEDS.
Strategies for Enhancing Asset Quality:
ii) Details of subsidy claim disbursed during Maintaining a qualitative credit portfolio
2019-20: being the top priority for successful operations,
being the Corporation vigorously pursues the
(Rs. in crores)
following strategies:
No. Amount
• Emphasis on comprehensive Risk
State Government Subsidy:
Management.
State Capital Subsidy 216 29.00
• Improving appraisal system for qualitative
Generator Subsidy 13 0.18 sanctions.
NEEDS - Individual based Capital Subsidy 74 4.25 • Monitoring of special mention accounts
Central Government Subsidy: and focused follow up of larger
advances.
Credit Linked Capital Subsidy (CLCS) 87 4.91
Technology Upgradation Fund Scheme (TUF) 0 0.00
• Introduction of a Comprehensive Credit
Management and Recovery Manual to
enhance Branch Credit Control Systems.
ASSET QUALITY:
• Continuous training for its personnel for
The Corporation accords utmost priority skill development.
to maintaining the quality of Loan Portfolio. As • An Exclusive Department for monitoring
on 31-03-2020, the share of Standard Assets the Asset Quality.
stood at 91.29 % of the Loan Portfolio. Despite
• Comprehensive set of one time
the stresses witnessed in National Banking
settlement schemes for elimination of
Scenario on account of growing NPAs, TIIC is
chronic NPAs.
by strenuous recovery efforts and persistent
monitoring has been successful in maintaining Loan Monitoring and Rehabilitation:
its Standard Assets components in its Loan • "The Corporation monitors the health of
Portfolio. the assisted units, performance of the
units, slippage and timely rehabilitation/
restructuring and revival of potentially
viable sick units.
19
• The Assets Portfolio of the Corporation Details of Reschedulement:
was analyzed on regular intervals and
reported to the Management on the 1. No and Amount of units re-habilitated
status of NPA level. The review reports of during 2019-20
SMA accounts of the respective - NIL -
Committees are analyzed, on monthly
basis and closely monitored to arrest 2. Cumulative No. of units rehabilitated (No.
slippage. & Amount) upto 31/03/2020 during the
past 5 years.
• The borrowers/units were notified about
the arrears along with current demand of - NIL -
interest/principal through SMS on their
3. No of units and Amount accorded re-
mobiles for timely remittances to avoid
schedulement during 2019-2020 was
slippage.
• The inspection of the units by the officials (Rs.in lakhs)
and also availability of Insurance for the No. AMOUNT
assisted units are reported to the Audit
Committee periodically. 4 152.40
• The Corporation has a mechanism to Recovery:

enable the Stressed Assets Monitoring at • The Recovery Department monitors the
Branch and Head Office level to prevent achievement of principal and interest
slippages and to maintain asset quality. collection targets of the Corporation.
• The Corporation has constituted Special • It focuses on the major NPA accounts by
Recovery Teams at Head Office level to reviewing the cases and taking suitable
monitor NPA cases and cases under action either through OTS (or) Legal
Special Mention Account directly. Those Route.
teams visited the Branches allotted to
them on monthly basis, and inspected • Approval is accorded for proceeding
the units which are all in SMA 1 and SMA legally to recover the dues under SFCs
2 and NPA, and closely monitored that Act/SARFAESI Act /DRT.
the unit in remitting the dues demanded. • Emphasis is placed on Compromise /
Such Special Recovery Team members Negotiated Settlement Schemes for loans
are periodically (once in a month) above Rs.10.00 lakhs and on various OTS
reviewed by Managing Director to Schemes in vogue for loans upto Rs.10.00
monitor the NPA. lakhs.
• A Loan Monitoring Committee chaired • To improve recovery through auction
by MD at Head Office had been sale process E-auction process has been
reviewing the case of loan sanctions introduced.
above Rs.1.00 Crore. • By the above activities, level of NPAs and
• To identify sickness at the earlier stage write-off cases have been reduced
and to take corrective action i.e. within considerably over the years and
90 days from the date of principal and contained in recent years.
interest demand, SMA(0), SMA(1) and • RECOVERY (Principal + Interest ) made
SMA(2) accounts are monitored by the out of OTS during the FY 2019-20:
following Committees.
(Rs. in lakhs)
1. Branch Level Committee
Principal : 350.88
2. Regional Level Committee
Interest : 234.54
3. Head Office Committee
Total : 585.42
20
21
3. Amount and No. of Units granted waiver in respect of Principal / Simple Interest / Penal /
Compound Interest for the year 2019-20
[Rs. in lakhs]
S.
Description No. of cases Prl. Int. Other dues Total
No.
1. Prl. Waiver involved cases 6 6.45 297.05 0.29 303.79
2. Int. Waiver involved cases 35 -- 11907.36 2.78 11910.14
Total 41 6.45 12204.41 3.07 12213.93
4. Details of Principal Waiver/Interest Waiver and Recovery (both Principal and Interest) in fully
settled cases approved during the year 2019-20
[Rs. in lakhs]
No. of Units Principal Waiver Interest Waiver Recovery
Prl. Int.
6 6.45 297.05 7.02 --
32 -- 2,438.64 350.88 234.54
5. Details of Units taken Possession and subsequently returned possession after receiving of concrete
proposals during the year 2019-20:
1. No. of units taken possession for the year 2019-20 51

2. No. of units returned to the owners 33
6. Number of Units sold/disposed during the year 2019-20 - 3
Readymix Concrete unit at Thanjavur Wheel Alignment and balancing unit at Cuddalore
22
Quality Certification: and regular audits are conducted to
• The Corporation has obtained Quality ensure compliance of ISO standards.
Management System certification • Transition from ISO 9001-2008 to ISO 9001-
Licence as per IS/ISO 9001:2008 from 2015 has been successfully done during
Bureau of Indian Standards (BIS) for the year.
covering sanction and disbursement of
Employment generation:
loans including documentation for Head
Office, Chennai Regional Office and The financial assistance extended by the
Chennai Branch Office. The licence is Corporation has resulted in generation of
valid upto November 2019 subject to a additional employment for about 6,950 persons
condition of implementation of during the year 2019-2020.
changeover to revised standard IS/ISO
Funds & Resources:
9001:2015 by 31st August 2018.
• "The Corporation mobilizes its funds, apart
• Sanction, documentation and
from share capital, through issue of Bonds
disbursement areas of operation of
with Government guarantee, inter
Chennai Branch and Head Office are
corporate deposits and Bank loans.
covered under ISO 9001-2008 standards
Table-7. Details of applications made to SIDBI for Refinance
(Rs. In Crores)
Amount O/s. at the Refinance Repayment O/s. at the
sanctioned beginning drawn made end of
Year of the year the year
Amt. Amt. Amt. Amt. Amt.
2017-18 -- 198.55 -- 41.10 157.45

2018-19 – 157.45 – 157.45** –
** includes prepayment of Rs.88.44 crores.
• The Honourable Chief Minister of Medium Enterprises (MSME). It follows

Tamilnadu made an announcement in regulations as laid down by SIDBI.
the Legislative Assembly during
• The Corporation has adequate focus on
September 2015 for infusion of Capital of
Corporate Governance to meet the
Rs.50 Crores each by TIDCO and SIPCOT
requirements of different stake holders
in TIIC. The Board of TIDCO has
and compliance to regulatory
contributed the balance of Rs.45 crores
requirements and to integrate them into
as share capital during the financial year
its functioning
2019-20.
• To this end, the Corporation has,
Insurance Business: structurally,
• The Corporation earned a sum of Rs.27.12 è a Chairman and a Managing
lakhs as commission for the insurance Director
premium during the financial year 2019-
20. è a Board of Directors which plays a
supervisory and advisory role
CORPORATE GOVERNANCE:
è several committees charged with
• The Corporation is a Public Sector specific roles
undertaking under the Government of
Tamilnadu. It supports industrial growth in è executives with specific functionalities
the State, with focus on Micro, Small and in the organizational process
23
TIIC's BOARD OF DIRECTORS COMPOSITION: è Director representing Industries
Department
The Board has –
è Director representing Finance
è Chairman
Department
è Managing Director
è Director representing SIDBI and
è Director representing MSME
è Four Independent Directors
Department
As on 31.03.2020, the Corporation's Board were in the following Directors:
Sl. Nature of Date of

No. Name of the Director Designation Directorship appointment
1. Thiru N. Muruganandam, IAS. Principal Secretary to Non-Executive 14.03.2019

Government/ Chairman
2. Dr. (Tmt) M. Aarthi, IAS., Managing Director Executive 05.01.2018
3. Dr. Rajendra Kumar, IAS., Secretary to Government, Non-Executive 27.12.2019
MSME Department,
Government of Tamilnadu
Director
4. Dr. R. Ananda Kumar, IAS., Special Secretary to Non-Executive 26.07.2017
Government,
Finance Department,
Director
5. Thiru K. Balasubramaniam, IAS., Dy. Secretary to Government, Non-Executive 04.12.2017
Industries Department,
Director
6. Tmt. Chitra Alai, General Manager, SIDBI Non-Executive 17.09.2014
Director
7. Thiru S. Anburajan President, Non-Executive 17.07.2019
Tamilnadu Small and Tiny
Industries Association (TANSTIA)
8. Thiru S. Rajendiran, Retired Deputy General Non-Executive 28.11.2019
Manager
Indian Overseas Bank
9. Dr. G. Santhanam, IAS (Retd) Retired as Secretary to Non-Executive 28.11.2019
Government of Tamilnadu,
Handlooms, Handicrafts,
Textiles, Sericulture and
Khadi Department
10. Thiru D. Srinivasan Managing Director Non-Executive 28.11.2019
Sree Annapoorna Sree
Gowrishankar Hotels
Private Limited
24
Directors who served on the Board during 2019-20 and relinquished their posts due to change
in assignment:
Sl. Name of the Director Period of Time
No. Tvl./Tmt. From To
1. Thiru Dharmendra Pratap Yadav, IAS 04.12.2017 31.07.2019
Secretary to Government
MSME Department
2. Hans Raj Verma, IAS 31.07.2019 27.12.2019
Additional Chief Secretary to Government
MSME Department
3. Thiru S. Sunil 08.06.2018 31.07.2019
Deputy General Manager
SIDBI
4. Thiru S. Gunasegaran, 29.08.2017 28.08.2019
Retired Bank Executive
5. Thiru N. Xavier Thomas, 29.08.2017 28.08.2019
Retired Bank Executive
No Director on the Board is, in any way, connected to any other Director of the Board.
COMMITTEES OF THE BOARD

The Board has constituted the following Committees to provide specified and focused
governance on key functional areas.
Sl. Chairman of the
Committee Members Main responsibility areas
No. Committee
1. Executive 1. Chairman, TIIC The Chairman, TIIC All areas relating to loans and
Committee 2. Managing Director, TIIC advances utilizing the overall
(EC) 3. Tmt. Chitra Alai, powers of the Board, above that of
General Manager, SIDBI the Corporation's Regional Committee.
5. Dr. G. Santhanam, IAS (Retd)
2. Audit 1. Thiru S. Rajendiran Dr. G.Santhanam, IAS Overseeing and directing the total
Committee Independent Director (Retd) audit functions of the Corporation; all
2. Dr. G.Santhanam, IAS (Retd) Independent Director internal inspections; audits by the
Independent Director external audits /SIDBI/AG; Periodic and
3. Tmt.Chitra Alai, Annual financial reports; write-off &
General Manager, SIDBI bad loans.
4. Thiru D.Srinivasan
3. Default 1. Chairman, TIIC The Chairman, TIIC Overseeing and directing the
Review 2. Managing Director, TIIC Corporation's performance in areas
Committee 3. Tmt.Chitra Alai, relating to NPAs, compromise
(DRC) General Manager, SIDBI settlements, etc. within the overall
4. Thiru S. Rajendiran powers of the Board and above those
Independent Director of the Regional Committee.
25
Sl. Chairman of the
No. Committee
4. Staff 1. Chairman, TIIC Chairman, TIIC H.R. areas like recruitment, promotions
Committee-I 2. The Managing Director, TIIC for the post of Assistant General
(for AGM & 3. Director representing Manager and above
above cadres) Finance Department
to the Govt. of T.N.
Staff 1. The Managing Director, TIIC MD., TIIC HR areas like recruitment, promotions
Committee-II 2. Director representing for the post of Senior Manager and
(for Senior Finance Department below.
Manager to the Govt. of T.N.
& below) 3. Director representing
Industries Department
to the Government of
Tamilnadu
5. Corporate 1. Chairman, TIIC Chairman, TIIC i) Formulate and recommend to the
Social 2. Managing Director, TIIC Board, a Corporate Social
Responsibility 3. Director representing Responsibility Policy which shall
Committee Industries Department to indicate the activities to be
(CSR) the Govt. of Tamil Nadu, undertaken by the Company
Thiru K. Balasubramaniam, IAS ii) Recommend the amount of
4. Thiru D. Srinivasan expenditure to be incurred on the
Independent Director Corporate Social Responsibility
5. Thiru S. Anburjan activities
Independent Director iii) Monitor the Corporate Social
Responsibility Policy of the Company
from time to time
6. Nomination & 1. Chairman, TIIC Chairman, TIIC NRC shall identify persons who are
Remuneration 2. Thiru D. Srinivasan qualified to become Directors and
Committee Independent Director recommend to Board their appointment
(NRC) 3. Director representing & removal and remuneration to
Industries Department to Directors.
Govt of Tamil Nadu,
Thiru K. Balasubramaniam, IAS
7. Stakeholders 1. Director representing Director representing SRC shall consider and resolve the
Relationship Industries Department Industries Department grievances of security holders of the
Committee to the Govt. of Tamil Nadu Thiru Company
(SRC) Thiru K. Balasubramaniam, IAS K.Balasubramaniam, IAS
8 Tender 1. MD, TIIC MD, TIIC To evaluate the Report of Tender
Committee 2. Director representing Screening Committee and forward its
Finance Department recommendations to the Board for its
to the Govt. of decision.
Tamil Nadu
Dr. R. Ananda Kumar, IAS.,
26
Sl. Chairman of the
No. Committee
9 Review 1. Managing Director, TIIC MD, TIIC To review the cases conform to the
Committee 2. Thiru S. Rajendiran decisions of Identification Committee
for Wilful Independent Director which is constituted for classifying the
Defaulters 3. Dr. G. Santhanam, IAS (Retd) borrowers / guarantors as wilful
Independent Director defaulters.
10. Risk 1. Managing Director, TIIC MD, TIIC To consider high and medium risks
Management 2. Tmt. Chitra Alai, periodically and give Executive
Committee General Manager, SIDBI Directions for risk mitigation and to
3. Dr. G. Santhanam, IAS (Retd) monitor the implementation of risk
Independent Director management strategies.
MEETINGS:
The Board of Directors has met four times during the year 2019-20. The Annual General
Meeting (AGM) was held in Chennai on 28.11.2019.
During the year, the Executive Committee met three times, Default Review Committee met
three times, Audit Committee met four times, and the Staff Committee met once.
Report on Corporate Social Responsibility:
Particulars of Corporate Social Responsibility activities carried out by the company in terms
of section 135 of the Companies Act, 2013.
Composition of the CSR Committee for the year 2019-20:
Sl.No Designation Status

1 The Chairman, TIIC Chairman
2 The Managing Director, TIIC representing Industries Department Member
3 Director representing Industries Department to the Govt. of Tamilnadu, Member
4 Thiru D. Srinivasan, Independent Director Member
5 Thiru S. Anburajan, Independent Director Member
Sl.No Name of the Beneficiary Purpose Amt. Rs.

(in lakhs)
1 Institute of Mental Health, Purchase of laundry and Kitchen equipment 48.65
Kilpauk, Chennai by the Institute of Mental Health, Kilpauk,
Chennai for the benefit of mentally ill patients
under CSR
2 The Tamilnadu State Disasters Lend a helping hand to the Government
Management Authority (SDMA) in its fight against COVID-19 pandemic 50.00
TOTAL 98.65
27
• "The Corporation is eligible to spend on schedules have been made effective. TIIC
their ongoing projects/programmes, have already complied with the revised
falling within the CSR activities specified provisions of the Act to the extent they are
under the act 2013, as mandated by the applicable to the Corporation. Various
Ministry of Corporate Affairs for carrying provisions applicable to the listed companies
out the CSR activities. are applicable to our Corporation. Some other
provisions that are applicable based on
• The Committee formulated and
certain benchmarks in terms of turnover,
recommended a CSR Policy in terms of
capital and borrowings like the provision on
Section 135 of the Act, 2013 along with a
appointment of key managerial persons are
list of projects/programmes to be
also applicable to us. Some other compliance
undertaken for CSR spending in
made during the year are written below:
accordance with the Companies
(Corporate Social Responsibility Policy) Allotment of Equity shares to TIDCO & SIPCOT
Rules, 2014.
The Government of Tamilnadu vide G.O.
• Based on the recommendation of the (Ms.)No.12 Industries (MIF.2) Department dated
CSR Committee, the Board has 20th February, 2018 has issued orders to
approved the projects/programmes accepting the request of the SIPCOT and
carried out as CSR activities by the TIDCO and accorded the approval for
following non-profitable organizations investment of Rs.50.00 crores each by SIPCOT
having an established track record for and TIDCO in the equity share capital of TIIC at
more than the prescribed years in the face value of Rs.1000/- per share. During
undertaking similar programmes/projects. the year 2019-20, TIIC allotted Rs.4,50,000 Equity
Constituting more than 2% of average shares of Rs.1,000/- each under section 62
net profits, made during the three (1)(c) and other applicable provisions, if any, of
immediately preceding financial years. the Companies Act, 2013 to TIDCO and
complied with the requirements under the Act.
• Average Net Profit of the Company
for last three financial years Compliance in respect of dematerialization of
(4003.84+3204.50+5107.80)/3 Rs.4105.38 lakhs fully paid Equity Shares
• Prescribed CSR Expenditure: Under Sec 9A (1) B of Companies Act
(2% of the amount of 2013, all unlisted public limited company to
Rs. 4105.38 lakhs) Rs. 82.11 lakhs dematerialize the Equity shares. The
• Total amount spent for the Corporation appointed NDML as R&T agent
FY 2019-20 Rs. 98.65 lakhs and NSDL as depository to hold the securities in
dematerialized form. The TIIC Equity share was
• Amount unspent, if any: NIL allotted with ISIN No.INE638F01018. The
dematerialization of Equity shares are in
Compliance function:
progress.
TIIC has a robust policy on compliance Compliance in respect of appointment of
and the related reports are reviewed by the Woman Director in the Board:
Board and the Audit Committee periodically.
As per the policy of the regulatory, statutory TIIC is also required to appoint a woman
and internal compliance are being monitored director pursuant to the provisions of section
and periodical reports are placed before the 149(1) of the companies Act, 2013.
competent authority. Dr. (Tmt) M Aarthi, IAS, and Tmt. Chitra Alai,
General Manager, SIDBI, were in our Board
Compliance with the provisions of the during the year 2019-20. Hence, the
Companies Act, 2013: Corporation is in compliance with the
requirement of appointment of woman
Most of the sections of the Companies
director on the Board.
Act 2013 and the related rules and the
28
Compliance in respect of conducting of 5. Thiru R.B. Ganesarajaram, Officer on
Secretarial Audit: Special Duty (LM&R/Rec.), is the Chief
Risk Officer. He identifies the risk factors
The Companies Act 2013, under Section in the loan proposals to be placed
204 read with Rule No.9 of Company Rules before the Executive Committee and the
(Appointment and remuneration of managerial Board of Directors and submit the same
personnel) 2014 requires every listed company to Head Office Screening Committee.
and a public company having a paid-up
capital of Rs.50 crores or more or a turnover of 6. Thiru S. Chockanathan, Officer on
Rs.250 crores or more to annex with its board Special Duty (Funds & Resources), is the
report a Secretarial Audit report in Format (MR- Chief Financial Officer. He reports to
3). TIIC being a listed company and having a CMD/MD.
share capital of Rs.421 crores is also required to 7. Thiru D. Durairaj, Company Secretary/
comply with the secretarial audit requirements. Assistant General Manager is the
M/s. Kiran Varma M.G., a practicing Corporate Social Responsibility Officer.
Company Secretary was appointed to conduct He will prepare and submit CSR proposals
the Secretarial Audit for 2019-20. The copy of to MD/CSR Committee/Board.
the secretarial audit report in the prescribed 8. Thiru S.Banuchandran, Senior System
Form MR-3 of the Companies Act 2013 is Administrator, is the Chief Information
annexed to this report. There were no adverse Security Officer (CISO) for implementing,
remarks in the secretarial audit report for the enforcing and supporting the E-Security
year 2019-20. Policy, 2010. He reports to the CMD/MD.
Compliance Officers No unsatisfactory report was generated
by the Corporation in 2019-20.
1. The Key Managerial Personnel as per
Companies Act 2013 are i) Managing Listing on the Stock Exchange
Director, TIIC ii) Thiru D. Durairaj, Non-SLR Bonds issued by the Corporation
Company Secretary/Assistant General are listed in the Bombay Stock Exchange.
Manager, iii) Thiru S.Chockanathan,
Officer on Special Duty (Funds & Risk Management Policy
Resources). Our Corporation is pioneer in SFCs to
2. Thiru T.Kirubakaran, General Manager, is introduce CMR rank, a tool to identify risk for all
the Principal Officer, for Know Your sanction proposals. By adopting CMR where
Customer (KYC) and Anti-Money the proposals are ranked between 1 to 6, the
Laundering (AML) compliance, as per risk associated in sanctions are further
RBI / SIDBI directions. He reports to mitigated.
CMD/MD. "The Corporation is fully committed to
3. Thiru D.Durairaj, Company Secretary/ identify all categories of risks involved in its
Assistant General Manager, is the business of lending or other activities, evolve
Compliance Officer for complying with suitable measuring and monitoring mechanism
the various provisions of SEBI and the and adopt appropriate risk management and
provisions of the Listing Agreement with risk mitigation strategies to achieve the twin
the Bombay Stock Exchange. He reports objectives of maximising returns and minimising
to the CMD/MD. risks".
The Corporation has appointed a Chief
4. Thiru D. Durairaj, Company Secretary/
Risk Officer, who identifies the Risk Factors in
Assistant General Manager, is the Public
the loan proposals and submit the same to
Information Officer as required under the
Head Office Screening Committee constituted
Right to Information Act, 2005. He
for prima facie clearance of the loan proposals
reports to the CMD/MD.
to be placed before the Executive Committee
29
and Board. The Risk factors identified by Chief S.No. Cadre No. of officials
Risk Officer are incorporated in the Appraisal promoted
Memorandum along with the mitigating
1 Manager to Sr. Manager 7
compliance remarks of the Project Department
2 Senior Officer to Manager 6
for consideration of the appropriate
Sanctioning Authority. 3 Officer to Senior Officer 4
4 Junior Officer to Officer 38
The Corporation is continuously taking
various measures to mitigate the risks involved iv) Implementation of Document
in its lending activity. Management Policy:
Human Resource As per legal and statutory requirements
I) A brief note on the Department for and organisational imperatives, Document
compilation of Annual Report: Management Policy has been implemented
by the Corporation during the year 2019-20.
The Corporation believes that our human The old records have been weeded out and
resources have a direct and significant impact segregated and listed all the files, registers,
on the overall performance. The Corporation etc., available in all offices of the Corporation.
has undertaken initiative to strengthen the The old records and records damaged in the
workforce in the wake of a large number of floods were also disposed off.
superannuation besides addressing training
needs and leadership development. Training:
II) Details of Number of Persons Recruited (i) The Corporation considers its human
During The Year: resource as one of the most essential
components for Corporation's
The Corporation recruited the following governance and business. The
personnel during the financial year 2019-20. Corporation is periodically imparting
Post No. of officials training to the staff by conducting In-
recruited house Training Programmes and by
deputing them to the various External
Manager (Technical) - 5 Training Programmes/Seminars/
Senior Officer (Technical) - 10 Workshops to enable them to update
their knowledge besides upgradation of
Senior Officer (Finance) - 3 skills. During the year Document
Management Policy has been
As on 31.03.2020, the staff strength in the
implemented in the Corporation to
Corporation was as follows:
facilitate proper storage, easy retrieval
Management Total strength and sharing of information/data within
the Corporation. To implement DMP
Chairman 1 policy staff of the Corporation has been
Managing Director 1 given video conference training to
Officers and above 160 segregate the files/registers, etc. in all the
Junior Officers/Assistants 73 offices of the Corporation.
Record Clerks/Drivers/Office Assistants 41 (ii) During 2019-20 external training
programme for skill development
Total 276
covered Project Appraisal, NPA
Management and Recovery Measures,
iii) Details of promotion given to officials Inter Personal Leadership, Team Building,
during the year: Personality Development, Administrative
The Corporation has given promotion to Skills, Workshop on Design the Thinking,
the officials as detailed below, during the Insolvency & Bankruptcy, E-Procurement,
financial year 2019-20:- Officers of MSEFC, Simulation Workshop,
30
Leadership skills, Credit Apppraisal, MD's approval, audit closure / letters are
Appreciation Program for Principal issued to the Branch Offices.
Officers, Public Procurement under the
• Apart from this, pre-disbursement credit
T.N.Transparency in Tenders Act, 1998,
audit of all term loan cases of sanctions
etc. The Host Institutes which provided
with the quantum of Rs.200 lakhs and
training to the employees were:
above is carried out at the Regional
1. SBI Training College, Chennai Office level and reports are furnished to
2. NAHRD, New Delhi the respective Branches for compliance
before effecting disbursement. Thus
3. Anna Institute of Management,
credit risk arising out of the higher
Chennai.
quantum loans are checked prior to
4. National Institute for MSME disbursement.
5. NIBSCOM, Noida
• The details of audit conducted and the
6. Design Centre, Siruseri, Chennai major observations by audit officials are
7. National Productivity Council, placed before the Audit Committee on
Hyderabad quarterly basis and the audit committee
8. ENPARADIGM, MUMBAI oversees the audit function and give their
remarks for improving or modifying the
9. Insurance Institute of India, Mumbai
audit process.
10. Human Settlement Management
Institute(HSMI), New Delhi • Accountant General Office, Chennai has
carried out Audit for the year 2018-19
(iii) 261 officials have attended the In-House from 19/07/2019 to 25/09/2019 and the
training programme conducted on report was received by the Corporation
various dates during the year 2019-20. and suitable replies were furnished by the
(iv) 77 officials have attended the Out Corporation.
station/External Training programme • In line with the Audit Policy and Manual
conducted on various dates during the 2018, Concurrent Auditors were
year 2019-20. appointed for 9 major branches like
INTERNAL AUDIT & ISO Dept. Tiruvallur, Tambaram etc., and for
Head Office Departments and the
• Internal Audit Department at Head system has become operational with
Office is headed by a General Manager effect from 10/04/2019.
and supported by Concurrent Auditors
appointed for select 9 branches and by • The concurrent auditors were appointed
Regional Audit Cells (RAC) at rest of the for one year initially from 10/04/2019
Branches. to 09/04/2020 and approval accorded
for their renewal for one year from
• The concurrent Auditors audit the Branch 10/04/2020 to 09/04/2021.
Office every month and furnish their
findings/ report to the respective Branch • The system of furnishing Flash Reports
offices for rectification / compliance highlighting important findings by audit
for quick reference to the top
• Based on their quarterly audit of the management is in place from the audits
Branch Offices, Regional Audit Team carried out since 01/10/2018.
(Cell) furnish their findings / report to the
respective Branch Offices for rectification • CTR (Cash Transactions Reports) are
/ compliance. gathered from all the Branch Offices
every month and reported, if necessary,
• Compliance reports from the Branch (cash transactions involving more than
Offices are scrutinized by the Internal Rs.10.00 lakhs) to the Director, FIU- INDIA,
Audit Department and placed before New Delhi. Branch Offices have been
the CMD/MD for approval. Upon CMD /
31
advised to encourage remittances by account details of the Branch Offices.
cheque / RTGS. The Customers can login in the
Application and access their loan
• Two days training programme was
account details and also submit their
conducted on 06/08/2019 and 07/08/
loan enquiry. The officials of the
2019 for the members of the Regional
Corporation can enter the Customer
Audit Team to have review on newly
Inspection Details in the Mobile
introduced audit formats as per Audit
Application from the Customer location
Manual & Policy 2018. Interaction
itself.
sessions, as part of mid term review, were
held with Concurrent Auditors during 4th, • The revamped interactive Website
5th & 6th December 2019 and their developed by M/s.Thinkinfinity is hosted in
suggestions for improvement / AWS Server, wherein all the scheme
modifications were placed before the details of TIIC is displayed in the website.
Audit Committee and the concerned A customer can login into the website
departments were advised to issue with OTP sent to his Registered Mobile
suitable instructions at the earliest. Number and access their loan account
details. A non-customer can submit their
• ISO certification renewed under ISO 9001- loan enquiry through website. An online
2015 for the period from 29/11/2019 to submission of Loan Application
28/11/2022. The scope of the licence is (exclusively for Fast Track EFS Scheme) is
Sanction and Disbursement of loans at developed in our website. We have also
Head Office and Chennai Branch Office. developed a Loan Application screen for
Computerisation CORUS Scheme wherein a customer can
submit his application and also upload
• During the current financial year Senior
the documents like photo, signature and
System Administrator was appointed, in
cancelled cheque leaf and also a
order to impart latest technology in our
Moratorium Submission Screen to
Software Application.
exercise the option of availing
• The New PB Application developed by Moratorium of installments as announced
M/s. DbQuest Business Solution, Pollachi by Reserve Bank of India due to COVID
with a Power Builder Ver.12 in the front 19 Pandemic.
end and SQL 2014 in the back end is • Corporation has implemented the SBI
implemented in our Corporation during Collect online payment facility provided
April 2019. The Centralised Application by State Bank of India from 08-08-2019,
works on a unified database in the server wherein the customers can remit their
located at Head Office, which is loan dues through online payment.
available 24 x 7. All the transactions are Corporation has also given facility for
captured in this Application and making online payment of Investigation
necessary General Ledger Trial Balance Fees, Registration Fees etc.
are generated. The Loan Demands and
Interest Subsidy Process are processed • The Corporation is sending SMS to our
centrally at Head Office for all the customers intimating their Loan Demand
Branch Offices. The MIS Reports and amount, Overdue intimation and also
other reports are generated periodically SMA alerts regularly. We are also sending
and submitted to the management, SMS intimation for our Business Boost
various departments, auditors and other Campaigns.
agencies. Directors' Responsibility Statement:
• The Android TIIC Mobile Application In accordance with the provisions of Sec
developed by M/s. DbQuest Business 134 (5) of the Companies Act 2013, with
Solution is also used by all the officials of respect to Directors responsibility statement, it is
the Corporation for accessing the loan hereby stated that:
32
• All accounting standards which have to Significant and material orders passed by the
be mandatorily followed have been Regulators or Courts or Tribunals impacting the
complied with in the preparation of going concern status of the Company:
accounts for the year ended 31st March,
There are no significant and material
2017.
orders passed by the regulators or courts or
• Significant accounting policies, tribunals, which would impact the going
consistently followed by the Corporation, concern status of the Company and its future
have been given as Notes annexed to operations.
and forming part of the Balance Sheet
Extracts of Annual Return:
and Profit and Loss Account.
An extract of Annual Return as referred
• Adequate care has been taken for the
under section 92(3) and section 134 (3A) in
maintenance of accounting records.
form MGT-9 of Company (Management and
• The accounts for the year have been Administration) rules 2014 is given as annexure
prepared on a "going concern concept" to this report.
• The financial statements have been Details of Material related party transaction
audited by M/s. Varadhaman & Co.,
Chartered Accountants, the Statutory There are no material related party
Auditors. Their report is appended. transactions under Sec.188 of the Act, 2013
read with the Companies (Meetings of Board
• The Corporation has a proper and and its Powers) Rules, 2014.
adequate internal control system to
ensure that all the assets of the Reporting of fraud
Corporation are safeguarded and The Auditors of the Company have not
protected against any loss and that all reported any fraud as specified under Sec.
the transactions are properly authorised 143 (12) of the Act, 2013.
and recorded. Information provided to
management is reliable and timely and Other Laws
statutory obligations are adhered to. As per the requirement of the Sexual
• The Company has an established internal Harassment of Woman at Workplace
Financial Control framework including (Prevention, Prohibition and Redressal) Act,
internal controls over financial reporting, 2013 and Rules made there under, our
operating controls and anti-fraud Corporation has constituted an Internal
framework. The framework is reviewed Complaints Committee (ICC). During the year
regularly by the management and under review, there were no cases received/
tested by internal audit team and filed pursuant to the provisions of the Sexual
presented to the Audit Committee. Harassment of Woman at Workplace
Based on the periodical testing, the (Prevention, Prohibition and Redressal) Act,
framework is strengthened, from time to 2013.
time, to ensure adequacy and Acknowledgements
effectiveness of internal Financial
Controls. The Board of Directors wishes to thank the
Government of Tamilnadu, Small Industries
Statutory Statements: Development Bank of India (SIDBI),
Material changes and commitments Commercial Banks, MSME Development
Institute and other State level institutions viz.,
There have been no material changes State Industries Promotion Corporation of
and commitments affecting the financial Tamilnadu (SIPCOT), Tamilnadu Industrial
position of the Company, which have Development Corporation Limited (TIDCO),
occurred between the end of the financial Small Industries Development Corporation
year of the Company to which the financial Limited (SIDCO), ITCOT Consultancy and
statements relate and the date of this report. Services Ltd., the Electronics Corporation of
33
Tamilnadu (ELCOT) and the Tamilnadu Small The Board of Directors takes great
and Tiny Industries Association (TANSTIA) for pleasure in recording its appreciation of the
their continuous co-operation and assistance. dedicated services rendered by the erstwhile
Directors on the Board and the Officers and
Staff of the Corporation.
For and on behalf of Board of Directors

THE TIIC LIMITED E. SUNDARAVALLI
CHENNAI 600 035 MANAGING DIRECTOR
Date : 07.10.2020
34
Some of the Directors, by virtue of their posts, hold certain other Directorships, as appointed
by the State Government. As on 31.3.2020:
Sl.
Name of the Director Designation Other Directorships
No.
1. Thiru N. Muruganandam, IAS. Prl. Secretary DIRECTOR:
to Govt. / Chairman 1. Tamilnadu Industrial Development
Corporation Limited
2. Tamilnadu Generation and
Distribution Corporation Board
CHAIRMAN:
1. State Industries Promotion Corporation
of Tamilnadu Ltd.
2. Titan Industries Ltd.
3. TIDEL Park Ltd.
4. Tamilnadu Minerals Limited
5. Tamilnadu Newsprint and Paper Limited
6. Tamilnadu Cement Corporation Limited
7. Tamilnadu State Marketing Corporation
Limited
Private Companies
1. IIT Madras Research Park (Sec 8 Company)
2. Tamilnadu Trade Promotion Organisation
2. Dr. (Tmt.) M. Aarthi, IAS., Managing Director DIRECTOR:
1. Tamilnadu Small Industries Development
Corporation Limited (SIDCO)
2. Seshasayee Paper & Boards Limited
3. State Industries Promotion Corporation
of Tamilnadu (SIPCOT)
4. ITCOT Consultancy and Services Limited
(ITCOT)
5. Guindy Industrial Estate Infrastructure
Upgradation Company (GIEIUC)
6. Chettinad Cement Corporation Limited
3. Dr. Rajendra Kumar, IAS., Director DIRECTOR:
Secretary to Government, Government of Tamilnadu
Micro, Small & Medium 1. Tamilnadu Small Industries Development
Enterprises Department Corporation Limited (SIDCO)
Government of Tamilnadu 2. Tamilnadu Small Industries Corporation
Limited (TANSI)
3. Entrepreneurship Development and
Innovation Institute (EDI)
4. Dr. R. Anandakumar, IAS., Director DIRECTOR:
Addl. Secretary to Government, 1. Tamilnadu State Transport Corporation
Finance Department, Limited (Kumbakonam)
Government of Tamilnadu 2. Tamilnadu Fisheries Development
Corporation Limited
3. Tamilnadu Forest Plantation Corporation
Limited
4. State Express Transport Corporation
Tamilnadu Limited
5. Tamilnadu Medicinal Plant Farms &
Herbal Medicines Corporation Limited
(TAMPCOL)
6. Tamilnadu Corporation for
Development of Women Ltd
7. Arasu Rubber Corporation Limited
35
Sl.
Name of the Director Designation Other Directorships
No.
8. The Tamilnadu Tea Plantation

Corporation Limited
9. Coimbatore Smart City Limited
10. Salem Smart City Limited
11. Madurai Smart City Limited
12. Poompuhar Shipping Corporation Ltd.
5. Thiru K. Balasubramaniam, IAS., Director DIRECTOR:
Dy. Secretary to Government, 1. Tamilnadu Industrial Explosives Limited
Industries Department, 2. Tamilnadu Sugar Corporation Limited
Government of Tamilnadu 3. Power Finance & Infrastructure
Development Corporation Limited
4. Tamilnadu Cements Corporation Limited
5. Perambalur Sugar Mills Ltd.,
6. Tamilnadu Salt Corporation Limited
7. Tamilnadu Forest Plantation Corporation
Limited
8. Tamilnadu Electricity Board
6. Tmt. Chitra Alai Director 1. Ujjivan Small Finance Bank Limited
General Manager,
Small Industries Development
Bank of India(SIDBI)
7. Thiru S. Anburajan Independent DIRECTOR:
President, Director Small Industries Product Promotion Organisation
Tamilnadu Small and Tiny
Industries Association (TANSTIA)
8. Dr. G. Santhanam, IAS (Retd) Independent DIRECTOR:
Retired as Secretary to Director 1. Namo Enterprises Private Ltd.,
Government of Tamilnadu, 2. Bhishma Technology Services Pvt. Ltd.
Handlooms, Handicrafts, 3. RV Matrix Software Technologies
Textiles, Sericulture and Private Limited
Khadi Department 4. Bhishma Media Lab Tamil Pvt. Ltd.
5. Rana Technology Solutions Pvt. Ltd.
9. Thiru S. Rajendiran Independent Nil
Retired Deputy General Manager Director
Indian Overseas Bank
10. Thiru D. Srinivasan Independent Director DIRECTOR:
1. Sree Annapoorna Sree Gowrishankar
Hotels Pvt Ltd
2. Sree Annapoorna Kitchen Equipments
Private Limited
3. Sree Annapoorna Gowrishankar
Estates and Constructions Pvt. Ltd
4. Tamilnadu Food Industries Association
5. Elyana Constructions Pvt. Ltd.,
6. Sree Annapoorna Lodgings
7. K Damodarasamy Naidu & Bros
8. Alankar Supermarket Pvt. Ltd.,
9. Elysium Cuisines LLP
10. South India Hotels and
Restaurants Association
36
Form No.MGT-9
Extract of ANNUAL RETURN as on the Financial Year ended 31.03.2020
(Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies
(Management and Administration) Rules, 2014)
I. REGISTRATION AND OTHER DETAILS :
i) CIN : U93090TN1949SGC001458
ii) Registration Date : 26-03-1949
iii) Name of the Company : Tamilnadu Industrial Investment

Corporation Limited
iv) Category / Sub-category

of the company : —
v) Whether listed company : Yes
vi) Name,address and contact : M/s. NSDL Database Management Limited

details of Registrar and Registrar & Transfer Agent
Transfer agent, if any 4th Floor, "A" Wing, Trade World,
Kamala Mills Compound,
Senapati Bapat Marg, Power Parel,
Mumbai 400 013.
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY :
Term Loan lending
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES
- NIL -
37
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
i) Category-wise share holding
No. of shares held at the No. of shares held at the

Category of beginning of the year end of the year
% change
Shareholders % of % of during the
Total Total year
Demat Physical Total shares Demat Physical Total shares
A. Promoter
(1) Indian
i) State
Government -- 3035228 3035228 80.73 -- 3035228 3035228 72.10 -8.63
(2) Foreign -- -- -- -- -- -- -- -- --
B. Public
Shareholding
(1) Institutions
i) SIPCOT -- 500000 500000 13.30 -- 500000 500000 11.88 -1.42
ii) Small Industries
Development
Bank of India
(SIDBI) 170000 -- 170000 4.52 170000 -- 170000 4.04 -0.48
iii) TIDCO 50000 -- 50000 1.33 500000 -- 500000 11.88 10.55
iv) Government
of Puducherry -- 1500 1500 0.04 -- 1500 1500 0.03 -0.01
v) Insurance
Companies 675 485 1160 0.03 675 485 1160 0.02 -0.01
vi) Other Banks
including
Co-op. Banks 1675 393 2068 0.05 1675 393 2068 0.05 0
(2) Non-Institutions -- -- -- -- -- -- -- -- --
Grand Total 222350 3537606 3759956 100% 672350 3537606 4209956 100%
38
ii) Shareholding of promoters
Shareholding at the beginning Shareholding at the end

of the year of the year
% of % of % change
Sl. % of total shares % of total shares in share
No. Shareholder’s Name No. of shares of pledged/ No. of shares of pledged/ holding
shares the encum- shares the encum- during
company bered to company bered to the year
total total
shares shares
1 Govt. of Tamilnadu 3035228 80.7251 -- 3035228 72.0964 -- -8.6287

2 Govt. of Puducherry 1500 0.0399 -- 1500 0.0356 -- -0.0043
3 Small Industries Development
Bank of India 170000 4.5213 -- 170000 4.038 -- -0.4833
4 Punjab National Bank 60 0.0016 -- 60 0.0014 -- -0.0002
5 Indian Bank, Chennai 233 0.0062 -- 233 0.0055 -- -0.0007
6 Kumbakonam City Union Bank,
Kumbakonam 10 0.0003 -- 10 0.0002 -- -0.0001
7 Syndicate Bank, Manipal 50 0.0013 -- 50 0.0012 -- -0.0001
8 Andhra Bank, Hydredabad-1 25 0.0007 -- 25 0.0006 -- -0.0001
9 Bank of India, Mumbai-21 200 0.00530 -- 200 0.0048 -- -0.00050
10 Indian Overseas Bank, Chennai 117 0.0031 -- 117 0.0028 -- -0.0003
11 Canara Bank, Bangalore 25 0.0007 -- 25 0.0006 -- -0.0001
12 State Bank Of India, Chennai 1167 0.031 -- 1167 0.0277 -- -0.0033
13 Corporation Bank, Mangalore-1 25 0.0007 -- 25 0.0006 -- -0.0001
14 Tamilnadu State Co-operative
Bank, Chennai 12 0.0003 -- 12 0.0003 -- 0
15 Ramachandran Co-operative
Central Bank Ltd.,
Ramachandrapuram (AP) 1 0 -- 1 0 -- 0
16 Prakasapuram Co-operative
Central Bank Ltd,
Prakasapuram, Tirunelveli 2 0.0001 -- 2 0 -- -0.0001
17 Karur town Co-operative
Bank Ltd., Karur 1 0 -- 1 0 -- 0
18 The Saraswat Co-op. Bank Ltd.,
Mumbai 5 0.0001 -- 5 0.0001 -- 0
19 Co-operative Central Bank Ltd.,
Nellore 2 0.0001 -- 2 0 -- -0.0001
20 Tamilnadu Co-operative State
Land Development Bank Ltd
Chennai-4 100 0.0027 -- 100 0.0024 -- -0.0003
21 Rajampet Co-operative Town
Bank Ltd., Rajampet 1 0 -- 1 0 -- 0
22 Mannargudi Co-operative Urban
Bank Ltd., Mannargudi 5 0.0001 -- 5 0.0001 -- 0
Vizianagaram 2 0.0001 -- 2 0 -- -0.0001
Thanjavur 2 0.0001 -- 2 0 -- -0.0001
39
Shareholding at the beginning Shareholding at the end
of the year of the year
% of % of % change
Sl. % of total shares % of total shares in share
No. Shareholder’s Name No. of shares of pledged/ No. of shares of pledged/ holding
shares the encum- shares the encum- during
company bered to company bered to the year
total total
shares shares
25 Malabar District Co-operative

Bank Ltd, Calicut 1 0 -- 1 0 -- 0
26 Co-operative Central Bank Ltd,
Elluru 1 0 -- 1 0 -- 0
Kumbakonam 5 0.0001 -- 5 0.0001 -- 0
28 Srikakulam District Co-operative
Central Bank Ltd, Srikakulam 6 0.0002 -- 6 0.0001 -- -0.0001
29 Ramanathapuram District
Co-operative Central Bank Ltd.,
Madurai 1 0 -- 1 0 -- 0
30 Karaikudi Co-operative Urban
Ltd., Karaikudi 1 0 -- 1 0 -- 0
31 Vishakapatnam District
Co-operative Central Bank Ltd.,
Vishakapatnam 2 0.0001 -- 2 0 -- -0.0001
32 Madurai District Central
Co-operative Bank Ltd.,
Madurai 6 0.0002 -- 6 0.0001 -- -0.0001
33 United India Insurance
Company Ltd., Mumbai 375 0.01 -- 375 0.0089 -- -0.0011
34 Oriental Fire & General
Insurance Company Ltd.,
Mumbai 250 0.0066 -- 250 0.0059 -- -0.0007
35 The Kaiser-I Hind Insurance
36 New India Assurance
37 LIC of India, Mumbai 375 0.01 -- 375 0.0089 -- -0.0011
38 SIPCOT 500000 13.298 -- 500000 11.8766 -- -1.4214
39 TIDCO 50000 1.3298 -- 500000 11.8766 -- 10.5468
Total 3759956 100.00 4209956 100.00 0.00
40
iii) Change in Promoter’s shareholding (please specify, if there is no change)
Sl. At the beginning Cumulative At the end

No. Name of the Promoter of the year shareholding of the year
during the year
% of total No. of % of total % of total
No. of shares shares shares No. of shares
shares of the of the shares of the
company company company
1. Government of Tamilnadu 3035228 80.73 -- -- 3035228 72.10
At the end of the year 3035228 80.73 -- -- 3035228 72.10
iv) Shareholding pattern of top ten shareholders (other than Directors, promoters and holders of GDRs
and ADRs)
Cumulative
Sl. For each of the Top 10 At the beginning shareholding At the end
No. shareholders of the year during the year of the year
% of total % of total % of total
No. of shares of the No. of shares of the No. of shares of the
shares company shares company shares company
1 SIPCOT 500000 13.30 -- -- 500000 11.8766

2 Small Industries Development
Bank of India 170000 4.52 -- -- 170000 4.038
3 TIDCO 50000 1.33 450000 10.69 500000 11.8766
4 Govt. of Puducherry 1500 0.040 -- -- 1500 0.0356
5 State Bank of India, Chennai 1167 0.031 -- -- 1167 0.0277
6 United India Insurance
Company Ltd., Mumbai 375 0.01 -- -- 375 0.0089
7 LIC of India, Mumbai 375 0.01 -- -- 375 0.0089
8 Oriental Fire & General
Insurance Company Ltd.,
Mumbai 250 0.0066 -- -- 250 0.0059
9 Indian Bank, Chennai 233 0.0062 -- -- 233 0.0055
10 Bank of India, Mumbai 200 0.0053 -- -- 200 0.0048
v) Shareholding of Directors and Key Managerial Personnel : Nil
vi) INDEBTEDNESS: Rs.

Bonds 1,50,00,00,000
SIDBI —
Banks 1,62,49,99,784
Deposits 2,78,13,82,477
Total 5,90,63,82,261
41
vii) Remuneration of Directors and Key Managerial Personnel:
A) Remuneration to Managing Director, Whole time Directors
B) Remuneration to other Directors — Nil
C) Remuneration to Key Managerial Personnel other than MD/Manager/Whole time

Directors
(Rs. in lakhs)
Key Managerial Personnel
Sl. Particulars of Remuneration Company Chief Financial
No. Secretary Officer Total
1. Gross Salary (in lakhs)

(a) Salary as per provisions contained
in Section 17(1) of the Income
Tax Act, 1961
(b) Value of perquisites u/s 17(2) Income
Tax Act, 1961
(c) Profits in lieu of salary under section
17 (3) Income Tax Act, 1961 23.54 10.55 34.09
2 Stock option
3. Sweat Equity
4. Commission
5. Others, specify
TOTAL 23.54 10.55 34.09
viii) Penalties / Punishment / Compounding of offences: Nil
42
CS Kiran Varma M.G. B.Com, ACS, LLB
Practising Company Secretary
New No: 60, Old No:34, Above IndianOverseas Bank
South Usman Road, T.Nagar, Chennai - 600 017
+91-95660 34192; [email protected]
Form No.3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2020
[Pursuant to Section 204(1) of the Companies Act, 2013 and rule No. 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To
The Members
CIN : U93090TN1949SGC001458
No. 692, Anna Salai, Nandanam, Chennai - 600 035
I have conducted the Secretarial Audit of the compliance of applicable statutory provisions
and the adherence to good corporate practices of M/s TAMILNADU INDUSTRIAL INVESTMENT
CORPORATION LIMITED (hereinafter called “the Company”). The Secretarial Audit was conducted in
a manner that provided me a reasonable basis for evaluating the Corporate conducts/statutory
compliances and expressing my opinion thereon.
Based on my verification of the books, papers, minute books, forms and returns filed and other
records maintained by the company and also the information provided by the Company, its officers,
agents and authorized representatives during the conduct of the secretarial audit, I hereby report
that in my opinion, the company has, during the audit period covering the financial year ended on
31st March 2020, complied with the statutory provisions listed hereunder and also that the Company
has proper Board-processes and compliance-mechanism in place to the extent, in the manner and
subject to the reporting made hereinafter.
I have examined the books, papers, minute books, forms and returns filed and other records
maintained by the Company for the financial year ended on 31st March 2020 according to the
provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (“SCRA”) and the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder.
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to
the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial
Borrowings (Not Applicable to the Company during the Audit Period)
(v) The following regulations and guidelines prescribed under the Securities and Exchange Board
of India Act, 1992 (“SEBI Act”)
(a) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations,
2008;
(b) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents)
Regulations, 1993 regarding the Companies Act and dealing with client;
(c) The Securities and Exchange Board of India (Listing obligations and Disclosure Requirements)
Regulations, 2015;
43
(d) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011 (Not Appliable to the Company during the Audit Period);
(e) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992
(Not Appliable to the Company during the Audit Period);
(f) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirments)
Regulations, 2009 (Not Applicable to the Company during the Audit Period);
(g) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations,
2014 (Not Applicable to the Company during the Audit Period);
(h) The Securities and Exchange Board of India (Delisting of equity shares regulations), 2009
(Not Applicable to the Company during the Audit Period); and
(i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (Not
Applicable to the Company during the Audit Period)
(vi) And laws specifically appliable in case of a State Finance Corporation.
I have also examined compliance with the applicable clauses of the following:
a. Secretarial Standards issued by The Institute of Company Secretaries of India.
b. The listing agreements entered into by the Company with Bombay Stock Exchange.
During the period under review the Company has complied with the provisions of the
applicable Acts, Rules, Regulations, Guidelines, Standards, etc. as mentioned above.
I, further report that,
The Board of Directors of the Company is duly constituted with proper balance of Executive
and Non-Executive Directors. The following changes in the composition of the Board of Directors
that took place during the period under review were carried out in compliance with the provisions
of the Act.
During the year under review:
1. Mr. S. Chockanathan, was appointed as Chief Financial Officer and KMP of the Company
on 30.05.2019.
2. Mr. S. Anburajan, President, TANSTIA, was appointed as the Independent Director of the
Company on 17.07.2019 for a term of 2 years.
3. Mr. Dharmendra Pratap Yadav, IAS, ceased to be a Nominee Director of the company
on 31.07.2019, Mr. Sunil Samuthiravel, ceased to be a Nominee Director of the Company
on 31.07.2019 and Mr. Hans Raj Verma, IAS, appointed as a Nominee Director of the
Company on 31.07.2019.
4. Mr. Nazareth Xavier Thomas, IAS, ceased to be a Director of the company on 28.08.2019
and Mr. Sundaramurthy Gunasegaran, ceased to be a Director of the Company on
28.08.2019.
5. Mr. RAJENDIRAN appointed as Independent Director of the Company on 28.11.2019, Mr.
Gopalsamy Santhanam, appointed as Independent Director of the company on 28.11.2019
and Mr. Dhamodarasamy Naidu Srinivasan, appointed as Independent Director of the
company on 28.11.2019.
6. Mr. Rajendra Kumar, IAS, appointed as Nominee Director of the company on 27.12.2019
and Mr. Hans Raj Verma, IAS, ceased to be Nominee Director of the company on
27.12.2019.
44
Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed
notes on agenda were sent and a system exists for seeking and obtaining further information
and clarifications on the agenda items before the meeting and for meaningful participation
at the meeting.
All the decisions were taken unanimously and dissenting members’ views, if any, are captured
and recorded as part of the minutes.
I, further report that there are adequate systems and processes in the Company commensurate
with the size and operations of the Company to monitor and ensure compliance with applicable
laws, rules, regulations and guidelines.
I, further report that, during the audit period, there were no other specific events/actions in
pursuance of the above referred laws, rules, regulations, guidelines, etc. having a major bearing
on the Company’s affairs.
UIDN: U93090TN1949SGC001458
Place : Chennai Kiran Verma M G
Date : 15.09.2020 Practising Company Secretary
ACS No. 44011
CoP No: 19211
This report is to be read with our letter of even date which is annexed and forms an integral part of this
report.
45
CS Kiran Varma M.G. B.Com, ACS, LLB
Practising Company Secretary
ANNEXURE ‘A’
To
The Members
CIN : U93090TN1949SGC001458
No. 692, Anna Salai, Nandanam, Chennai - 600 035
My report of even date is to be read along with this letter.
1. Maintenance of Secretarial record is the responsibility of the management of the Company.

My responsibility is to express an opinion on these Secretarial records based on my audit.
2. I have followed the audit practices and processes as were appropriate to obtain reasonable
assurance about the correctness of the contents of the Secretarial records. The verification
was done on test basis to ensure that correct facts are reflected in secretarial records.
I believe that the processes and practices, I have followed provide a reasonable basis for
my opinion.
3. I have not verified the correctness and appropriateness of financial records and Books of
Accounts of the Company.
4. Where ever required, I have obtained the Management representation about the
compliance of laws, rules and regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations,
standards is the responsibility of management. My examination was limited to the verification
of procedures on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the Company
nor of the efficacy or effectiveness with which the management has conducted the affairs
of the Company.
UIDN: U93090TN1949SGC001458
Place : Chennai Kiran Verma M G
Date : 15.09.2020 Practising Company Secretary
ACS No. 44011
CoP No: 19211
46
ANNEXURE – DETAILS OF CSR SPENT DURING 2019-20
a) Total amount to be spent for 2019-20 : Rs. 82.11 lakhs
b) Amount unspent if any : NIL
c) Manner in which the amount spent : (Rs. in lakhs)

S.No. CSR Project Sector in Projects or Amount Amount spent on Cumulative Amount
or activity which the programs(1) outlay the projects or expenditure spent
identified project is Local area or (budget) programs upto the through
covered other(2) project or subheads (1) reporting imple-
Specify the programs Direct expenditure period menting
State and wise on projects or agency
district where programs (2)
projects or Overheads
programs
was undertaken
1 Institute of Health Chennai, 82.11 48.65 48.65 —

Mental Tamilnadu
Health,
Kilpauk,
Chennai
2 The Health Chennai, — 50.00 50.00 —

Tamilnadu Tamilnadu
State
Disasters
Management
Authority
(SDMA)
TOTAL 82.11 98.65 98.65 —
(sd/-) (sd/-)
Company Secretary Managing Director
47
VARDHAMAN & CO New No. 12 (Old No. 31-A)
CHARTERED ACCOUNTANTS Krishna Street
T. Nagar, Chennai – 600 017
Tel : 044-24344627 / 24342596
Email id : [email protected]
INDEPENDENT AUDITORS’ REPORT

To the Members
Tamilnadu Industrial Investment Corporation Limited
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of Tamilnadu Industrial Investment

Corporation Limited (“the Company”) as on 31st March, 2020, which comprise the Balance Sheet
as at 31st March, 2020, Profit and Loss Account, the Cash Flow Statement for the year then ended,
and a summary of significant accounting policies and other explanatory information.
MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
Management is responsible for the matters stated in Section 134(5) (and other applicable
provisions) of the Companies Act, 2013 (“the Act”) with respect to the preparation and
presentation of these financial statements that give a true and fair view of the financial position,
financial performance and cash flow of the Company in accordance with the accounting
principles generally accepted in India, including the Indian Accounting Standards prescribed
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This
responsibility also includes maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgements and estimates that are reasonable and prudent; and design,
implementation and maintenance of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the financial statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.
AUDITORS’ RESPONSIBILITY
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing
standards and matters which are required to be included in the audit report under the provisions
of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under
Section 143(10) of the Act. Those Standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's
judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal financial control relevant to the Company's preparation of the financial statements that
give a true and fair view in order to design audit procedures that are appropriate in the
48
circumstances. An audit also includes evaluating the appropriateness of the accounting policies
used and the reasonableness of the accounting estimates made by the Company’s Directors,
as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our qualified audit opinion on the financial statements.
BASIS FOR QUALIFIED OPINION
1) We draw attention of the Members to note D-(iii) of the financial statements:
NOTE D-(iii)
The Corporation has proposed dividend of Rs. 4.21 Crores for the financial year ended
31st March 2020, which is not in conformity with the GO Ms.No. 123 issued by Finance Department
dated 19th May 2014 regarding the common dividend policy for the State PSUs in Tamil Nadu
leaving a short of Rs. 4.84 Crores in provision of proposed dividend.
NOTE D-(iv)
2) We draw attention of the members to note No. D-(iv) of the financial statements regarding
impact of Covid-19 Pandemic in the Company. It also indicate, uncertainities exists and
it is currently not possible to reasonably estimate the future impact. Our opinion is not
modified in this matter.
QUALIFIED OPINION
In our opinion and to the best of our information and according to the explanations given
to us, except for effects of the matter described in the basis for qualified opinion paragraph,
the financial statements give the information required by the Act in the manner so required and
give a true and fair view in conformity with the accounting principles generally accepted in
India:
(a) in the case of the Balance Sheet, of the state of affairs of the Company as at
31st March, 2020;
(b) in the case of the Profit and Loss Account, of the profit for the year ended on that
date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the year ended on
that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
1. As the Company is defined as a Banking Company by Company Law Board vide its Letter
dated 28.06.1960, the Companies (Auditors’ Report) Order, 2016 (“the Order”), issued by
the Central Government of India in terms of sub-section (11) of section 143 of the Companies
Act, 2013 (the Act) is not applicable to the Company.
2. As required by section 143(3) of the Act, we report that:
a. we have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purposes of our audit;
b. in our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books;
49
c. the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with
by this Report are in agreement with the books of account;
d. in our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement comply with the Accounting Standards specified under Section 133 of the
Act, read with Rule 7 of the Company (Accounts) Rules, 2014;
e. being a Government company, pursuant to the Gazette Notification dated 5th June
2015, issued by the Ministry of Corporate Affairs, Government of India, provisions of
section 164(2) of the Act are not applicable.
f. with respect to the adequacy of the internal financial controls over financial reporting
of the Company and the operating effectiveness of such controls, refer to our separate
report in “Annexure”; and
g. with respect to the other matters to be included in the auditor’s report in accordance
with the rule 11 of the Companies (Audit and Auditors) Rule, 2014, in our opinion and
to the best of our information and according to the explanations given to us:
(i) The Company has no pending litigations which warrants impact on its financial
statements.
(ii) The Company did not have any long-term contracts including derivative contract
for which there were any material foreseeable losses.
(iii) There has been no delay in transferring amounts, required to be transferred to

the Investor Education and Protection Fund by the Company.
For VARDHAMAN & CO

Firm Registration No. 004522S
V. BASKARAN
Place : Chennai Senior Partner
Date : 07.10.2020 Membership No: 012202
UDIN No. 20012202AAAABA9198
50
VARDHAMAN & CO New No. 12 (Old No. 31-A)
CHARTERED ACCOUNTANTS Krishna Street
T. Nagar, Chennai – 600 017
Tel : 044-24344627 / 24342596
Email id : [email protected]
ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT
Report on the Internal Financial Controls under Clause (i) of Sub-Section 3 of Section 143 of the
Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of Tamilnadu
Industrial Investment Corporation Limited ("the Company"), as of March 31, 2020 in conjunction
with our audit of the financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Company’s management is responsibile for establishing and maintaining internal

financial controls based on the internal control over financial reporting criteria established by
the Company considering the essential components of internal control stated in the Guidance
Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of
Chartered Accountants of India (‘ICAI’). These responsibilities include the design, implementation
and maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including adherence to company’s
policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of reliable
financial information, as required under the Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls over
financial reporting based on our audit. We conducted our audit in accordance with the Guidance
Note on Audit of Internal Financial Controls over Financial Reporting (the “Guidance Note”) and
the Standards of Auditing issued by ICAI and deemed to be prescribed under section 143(10)
of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls,
both applicable to an audit of Internal Financial Controls and both issued by the Institute of
Chartered Accountants of India. Those Standards and the Guidance Note require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether adequate internal financial controls over financial reporting was established and
maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy
of the internal financial controls system over financial reporting and their operating effectiveness.
Our audit of internal financial controls over financial reporting included obtaining and
understanding of internal financial controls over financial reporting, assessing the risk that a material
weakness exists, and testing and evaluating the design and operating effectiveness of internal
control based on the assessed risk. The procedures selected depend on the auditor’s judgement,
including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error.
51
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opnion on the Company’s internal financial control system over
financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company’s internal financial control over financial reporting is a process designed to

provide reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted accounting
principles. A company’s internal financial control over financial reporting includes those policies
and procedures that (1) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted accounting principles, and that
receipts and expenditures of the company are being made only in accordance with authorisations
of management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition, use, or disposition of the company’s
assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting,
including the possibility of collusion or improper management override of controls, material
misstatements due to error or fraud may occur and not be detected. Also, projections of any
evaluation of the internal financial controls over financial reporting to future periods are subject
to the risk that the internal financial control over financial reporting may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial
control system over financial reporting and such internal financial controls over financial reporting
were operating effectively as at March 31, 2020, based on the internal control over financial
reporting criteria established by the Company considering the essential components of internal
control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India.
For VARDHAMAN & CO

Firm Registration No. 004522S
V. BASKARAN
Place : Chennai Senior Partner
Date : 07.10.2020 Membership No: 012202
UDIN No. 20012202AAAABA9198
52
ACCOUNTS
BALANCE SHEET
AND
PROFIT AND LOSS ACCOUNT
53
BALANCE SHEET AS ON MARCH 31, 2020
Particulars Schedule As on 31.03.2020 As on 31.03.2019

Ref. (Rs.) (Rs.)
CAPITAL AND LIABILITIES
Capital A 4,209,956,000 3,759,956,000
Reserves and Surplus B 2,804,105,252 2,544,322,636
Bonds C 1,500,000,000 1,500,000,000
Borrowings D 1,750,353,917 2,524,578,452
Deposits E 2,781,382,477 3,164,663,190
Other Liabilities and Provisions F 1,884,119,171 2,222,069,557
TOTAL 14,929,916,817 15,715,589,835
ASSETS
Cash and Bank Balances G 1,330,022,396 1,537,716,251
Investments H 361,400,415 482,870,424
Loans and advances I 10,473,692,589 10,974,093,145
Fixed assets J 1,724,987,962 1,729,158,250
Other assets K 1,039,813,455 991,751,765
TOTAL 14,929,916,817 15,715,589,835
Significant accounting policies and

Notes to Accounts S
D. DURAIRAJ S. CHOCKANATHAN E. SUNDARAVALLI S. RAJENDIRAN

Company Secretary Chief Financial Officer Managing Director Director
As per our report of even date annexed

For M/s. VARDHAMAN & CO.
Place : Chennai V. BASKARAN

Date : 07.10.2020 Senior Partner
54
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2020
Particulars Schedule For the year ended For the year ended
Ref. 31.03.2020 31.03.2019
Rs. Rs.
INCOME (A)
Income from operations L 1,459,253,013 1,771,571,146
Other income M 359,844,599 373,455,980
Total Income (A) 1,819,097,612 2,145,027,126
EXPENDITURE (B)
Interest expended N 557,167,603 709,301,741
Other financial expenses O 8,769,382 8,624,828
Personnel expenses P 446,633,410 572,102,008
Administrative expenses Q 92,713,735 92,434,084
Depreciation J 7,260,790 7,969,720
Waiver and Write offs R 195,858,033 502,089,809
Total Expenditure (B) 1,308,402,953 1,892,522,190
PROVISIONS (C)
Provision for Advances / (Written back) (13,587,177) (261,638,315)
Depreciation on investments 121,470,009 3,362,449
Provision for Taxes 100,929,651 145,440,159
Total Provisions (C) 208,812,483 (112,835,707)
Net Profit carried to P&L Appropriation A/c A-(B+C) 301,882,176 365,340,643
Significant accounting policies and
Notes to Accounts S
EARNINGS PER SHARE - Basic/Diluted 71.71 97.17
(Face value of Rs.1,000/- each)



55
PROFIT AND LOSS APPROPRIATION ACCOUNT FOR THE YEAR ENDED MARCH 31, 2020
Particulars For the year ended For the year ended
31.03.2020 31.03.2019
Rs. Rs.
Balance as per last Balance Sheet- General Reserve/

(Accumulated losses) 984,319,820 664,307,439
Add:
Profit for the year as per Profit and Loss Account 301,882,176 365,340,643
Less: Proposed Dividend for FY 2019-20

and Dividend Tax 42,099,560 45,328,262
Profit transferred to Reserves and Surplus/

(Accumulated losses) 1,244,102,436 984,319,820



56
SCHEDULES TO BALANCE SHEET
Particulars As on 31.03.2020 As on 31.03.2019

(Rs.) (Rs.)
Schedule-A: Capital
1. Authorised Capital
42,50,000 (42,50,000) Equity Shares of Rs.1000 each 4,250,000,000 4,250,000,000
2. Issued
Equity Share Capital:
42,10,000 Equity Shares (Previous year 4,210,000,000 3,760,000,000
37,60,000 numbers) of Rs.1,000 each
3. Subscribed and paid up
41,24,956 Equity Shares of (Previous 4,124,956,000 3,674,956,000
year 36,74,956 numbers) of Rs.1,000 each fully paid
85,000 (Previous year 85,000) 85,000,000 85,000,000
Special Equity Shares of Rs.1,000/- each
(issued u/s 4A of State Financial
Corporations' Act, 1951)
Total 4,209,956,000 3,759,956,000
Schedule B: Reserves and Surplus

i) Reserves
Revaluation Reserve:
Revaluation of lands held 1,535,003,100 1,535,003,100
ii) SPECIAL RESERVE FUND
(In terms of Sec.35A of the State Financial
Corporations' Act, 1951 representing
dividend foregone by the Govt.of Tamilnadu
and IDBI) 24,999,716 24,999,716
iii) Transfer from Profit & Loss Appropriation Account 1,244,102,436 984,319,820
Total 2,804,105,252 2,544,322,636
Schedule-C: Bonds
9.85% Non-SLR Bonds 2014

Guaranteed by Government of 1,500,000,000 1,500,000,000
Tamilnadu as to principal and
interest.
Total 1,500,000,000 1,500,000,000



57

(Rs.) (Rs.)
Schedule-D: Borrowings
1. Loan in lieu of capital - IDBI (Unsecured) 125,000,000 125,000,000

2. Term Loan from Banks 1,624,999,784 2,399,313,952
(Sec. by book debts)
3. Overdraft from Banks 354,133 264,500
(Sec. by book debts)
Total 1,750,353,917 2,524,578,452
Schedule-E: Deposits
1. Deposits from Temples, 1,264,378,054 1,323,554,358

Educational institutions, etc.
2. Inter-Corporate Deposits 1,517,004,423 1,841,108,832
Total 2,781,382,477 3,164,663,190
Schedule-F: Other Liabilities and Provisions
1. Advances & Deposits from Constituents & others 321,024,396 199,705,471

2. Liability for others 694,195,233 1,213,765,798
3. Provision on Standard Assets 64,260,442 73,853,120
Add: Provision for Current Year (17,759,044) (9,592,678)
46,501,398 64,260,442
4. Wealth Tax 4,792,584 4,792,584
5. Income Tax 694,217,000 659,217,000
Add: Provision for the year 81,289,000 35,000,000
775,506,000 694,217,000
6. Provision for Proposed Dividend 42,099,560 37,599,560
Provision for Dividend Tax — 7,728,702
42,099,560 45,328,262
Total 1,884,119,171 2,222,069,557
58

(Rs.) (Rs.)
Schedule-G: Cash and Bank Balances

1. Cash in hand 2,321,165 4,725,357
2. Balance with banks
i) Reserve Bank of India 180,168 146,100
ii) Current A/c with scheduled Banks 453,735,697 416,407,110
iii) Term Deposits with Banks 873,785,366 1,116,437,684
Total 1,330,022,396 1,537,716,251
Schedule-H: Investments
Investment in shares
Quoted 332,970,366 454,440,375
Non-Quoted 28,430,049 28,430,049
Total 361,400,415 482,870,424
59
SUMMARY FOR QUOTED / NON-QUOTED SHARES AS ON 31ST MARCH 2020
Current year Previous year

(Rs.) (Rs.)
COST OF FULLY PAID SHARES

QUOTED
EQUITY 476,531,140 476,531,140
NON QUOTED
EQUITY 47,929,365 47,929,365
REDEEMABLE PREFERENCE 15,412,868 15,412,868
TOTAL 539,873,373 539,873,373
MARKET / BOOK VALUE 361,400,415 482,870,424
DEPRECIATION REQUIRED 178,472,958 57,002,949
DEPRECIATION HELD 178,472,958 57,002,949
NET VALUE OF INVESTMENTS AS PER BALANCE SHEET 361,400,415 482,870,424



60
SCHEDULE FOR INVESTMENT IN SHARES AS ON 31ST MARCH 2020
I. FULLY PAID EQUITY SHARES (QUOTED)
No. of Face Market Market Net Value
Sl. Shares Value Book Cost Rate / Value/ (Lower of
No. Name of the Company Balance Balance (5) or (7))
Sheet Value Sheet Value
Rs. Rs. Rs. Rs. Rs.
(1) (2) (3) (4) (5) (6) (7) (8)
I-Market value
1 NLC India Ltd 5,970,126 10 358,207,560 43.90 262,088,531 262,088,531
2 IDBI Bank Ltd.(Formely Industrial
Development Bank of India) 35,680 10 2,899,000 19.30 688,624 688,624
3 Kothari Sugars & Chemicals Ltd. 10,350 10 4,485,000 8.55 88,492 88,492
4 Rallis India Ltd. 801,150 1 667,660 175.60 140,681,940 667,660
5 Sakthi Sugars Ltd. 495,099 10 11,254,130 7.30 3,614,223 3,614,223
6 Seshasayee Paper & Boards Ltd.* 9,000,000 2 16,000,000 104.00 936,000,000 16,000,000
7 Sical Logistics Ltd. (Formerly South India
Corporation (Agencies) Ltd.)** 160,467 10 10,012,771 6.31 1,012,547 1,012,547
8 Sicagen India Ltd.** 160,467 10 6,355,869 8.64 1,386,435 1,386,435
9 Tamilnadu News Print & Papers Ltd. 400,000 10 44,000,000 88.90 35,560,000 35,560,000
10 Elgi Rubber Company Ltd 1,179,696 1 158,000 11.10 13,094,626 158,000
11 Vedanta Ltd (Formerly Sesa Sterlite,
Madras Aluminium Company Ltd.) 2,450,000 1 7,000,000 64.70 158,515,000 7,000,000
II-Balance Sheet Value
12 Reed Relays and Electronics India Ltd. 41,956 10 2,097,850 371.69 15,594,626 2,097,850
13 Ambattur Enterprises Ltd.
(Formely T & R Welding Products (India) Ltd.) 3,680 100 368,000 1919.93 7,065,342 368,000
14 Kamar Chemicals & Industries Ltd. 137,550 10 1,834,000 — — —
15 M I L Industries Ltd. 168,000 10 1,680,000 90.10 15,136,800 1,680,000
16 Sree Maruthi Marine Industries Ltd.,
(Maruthi Crystal Salt Co., Ltd) 20,000 10 — 19.77 395,400 —
17 Wavin India Ltd. 59,275 10 — — — —
18 Sivanandha Pipe Fittings Ltd. 33,600 10 560,000 43.65 1,466,640 560,000
III-Others
19 Indian Steel Rolling Mills Ltd. 46,620 10 310,800 — 1 1
20 MICO Farm Chemical Ltd. 7,480 100 748,000 — 1 1
21 Seshasayee Industries Ltd. 241,750 10 2,417,500 — 1 1
22 Bokiyu Tanneries Ltd. 41,900 10 — — — —
23 Secals Ltd. 125,000 10 5,475,000 — 1 1
TOTAL 476,531,140 332,970,366
61
II. FULLY PAID REDEEMABLE CUMULATIVE PREFERENCE SHARES (NON-QUOTED)
Net Value after
Sl. Name of the Company No. of FaceValue Book Cost Depreciation
No. Shares Rs. Rs. Rs.
(1) (2) (3) (4) (5) (6)
1 Ergodyne Private Ltd. 900 100 90,000 1
2 Industrial Venture Capital Ltd 1,000,000 10 10,000,000 1
3 Mod Shoe Co. P Ltd. 1,453 100 145,300 1
4 Southern Structurals Ltd. 44,392 10 177,568 1
5 Sleek Textiles Industries Ltd. 500,000 10 5,000,000 1
6 Sakthi Pipes Ltd. 9,703 100 — —
7 Zenith Lamps & Electricals Ltd. 48,575 10 — —
TOTAL (A) 15,412,868 5
III FULLY PAID EQUITY SHARES (NON-QUOTED)

Sl. Name of the Company No. of Face Book Cost BV Market Value/ Net value
No. Shares Value Balance (Lower of
Sheet Value (5) or (7))
(BV)
Rs. Rs. Rs. Rs. Rs.
(1) (2) (3) (4) (5) (6) (7) (8)
1 Chettinad Cement Corporation Ltd 61 200,000 25,864,000 15,978,448.28 974,685,345 25,864,000
2 Pandyan Hotels Ltd. 4,985 100 — 835.73 4,166,114 0
3 ITCOT Consultancy and Services Ltd. 2,000 100 200,000 5,872.87 11,745,740 200,000
4 Lakshmi Precision Tools Ltd. 34,900 10 523,500 60.53 2,112,497 523,500
5 Malladi Drugs & Pharmaceuticals Ltd. 770,000 5 500,000 57.50 44,275,000 500,000
6 Guindy Industrial Estate Infrastructure
Upgradation Company 2,500 10 25,000 — 1 1
7 India Forge & Drop Stampings Ltd. 71,179 10 907,535 158.65 11,292,548 907,535
8 Sun Paper Mill Ltd. 43,500 10 435,000 13.88 603,780 435,000
9 Industrial Venture Capital Ltd. 1,000,000 10 10,000,000 1
10 Marshall &Sons (India) Ltd. 79,372 10 198,430 1
11 Devi Spinning Mills Ltd. 1,000 1,000 1,000,000 1
12 Kumaragiri Electronics Ltd. 35,000 10 350,000 1
13 Rockfort Fastners Ltd. 25,000 10 250,000 1
14 Forge Mech Private Ltd. 3,900 10 39,000 1
15 Madras Forgings & Allied Industries (CBE) 4,849 100 484,900 1
16 Sivanandha Steels Ltd. 357,600 10 7,152,000 1
17 Southern Castings Ltd. 46,310 10 — 0
18 Sakthi Pipes Ltd. 14,850 100 — 0
19 Trac Industries & Components Ltd. 9,960 100 — 0
20 Ramasayee Agro Industries Ltd. 2,500 100 — 0
21 Upper India Bearings & Bushings Ltd. 20,000 10 — 0
22 Tuber Pharma Chemicals Ltd. 20,000 10 — 0
23 Tamilnadu Alloy Foundry Co Ltd. 90,000 10 — 0
24 Omega Cables Ltd. 10,330 100 — 0
25 Micro Tools Ltd. 11,135 100 — 0
TOTAL (B) 47,929,365 28,430,044
Non-quoted shares (A) + (B) 28,430,049
* Seshasayee Paper & Boards Ltd. split their stock in the ratio of 1:5. So their face value per share has reduced from Rs.10 per share to Rs.2 per Share.
Accordingly the number of shares increased from 18,00,000 to 90,00,000.
** In the year 2008, Sical Logistics Ltd. transferred their Trading, Plantation and Services division to Sicagen India Ltd. by way of demerger. In turn,
Shareholders of Sical Logistics Ltd. are entitled to 1 share in Sicagen Ltd. for every share held in Sical Logistics ltd at nil cost. Corporation was allotted
160467 shares in Sicagen India Ltd. and shown the book cost as nil. Now the Corporation has apportioned the Sical Logistics Ltd. book cost of
Rs.1,63,68,640 between Sical Logistics Ltd and Sicagen India Ltd. based on their Networth as on 31.03.2019.
62

(Rs.) (Rs.)
Schedule-I: Loans and Advances

Loans and Advances 10,473,692,589 10,974,093,145
(After adjusting cumulative provision
of Rs. 24,89,73,071 (Rs. 244,664,733)
Different types of loans

1. General Loan 8,511,380,221 8,510,510,351
2. Working Capital Term Loan 655,016,160 1,081,343,239
3. Generator 13,932,901 16,257,273
4. Transport loans 125,811,408 131,844,548
5. Bill Finance 739,254,191 462,545,396
6. Bridge loans 518,533,536 901,416,735
7. GES 76,640,154 77,891,396
Add: Interest accrued 82,097,089 36,948,940
Less: NPA Provision (248,973,071) (244,664,733)
Total 10,473,692,589 10,974,093,145
63
SCHEDULES SHOWING PARTICULARS OF LOANS AND ADVANCES REFERRED IN THE BALANCE SHEET
AS AT 31.03.2020
1. Asset classification:
Term Loans and Hire Purchase Loans

Asset NPA
Gross Provisioning Net
(Rs.) (Rs.) (Rs.)
Standard 9,788,590,156 — 9,788,590,156

(10,526,597,232) — (10,526,597,232)
Sub-Standard 636,921,223 95,784,943 541,136,280
(263,126,268) (39,911,583) (223,214,685)
Doubtful 196,686,566 52,720,413 143,966,153
(313,521,807) (89,240,579) (224,281,228)
Loss Assets 100,467,715 100,467,715 —
(115,512,571) (115,512,571) —
TOTAL 10,722,665,660 248,973,071 10,473,692,589
(11,218,757,878) (244,664,733) (10,974,093,145)
(Previous year figures are in brackets)
2 Debts due by concerns in which one or more Directors

of the Corporation are interested as Directors/Partners/
Proprietors or as Share Holders in case of
Private Companies. -----
3 Total amount of loans disbursed during the year to

concerns in which one or more Directors of the
Corporation are interested as Directors, Partners,
Proprietors or in the case of Private Companies as
Members -----
4 Loans guaranteed by the State Government

and/ or due by a Government Undertaking Rs. 709 lakhs



64
Schedule—J:SCHEDULE OF FIXED ASSETS AS ON 31.03.2020 (in Rupees)
GROSS BLOCK DEPRECIATION NET BLOCK
Cost as on Cost as on As on WDV WDV

Sl. 1.4.2019 Additions Deletions 31.3.2020 01.04.2019 Additions Deletions As on as on as on
No. Description of Asset 31.3.2020 31.3.2020 31.3.2019
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
I TANGIBLE ASSETS
1 Land – Freehold* 1,628,783,402 — — 1,628,783,402 — — — — 1,628,783,402 1,628,783,402
2 Building 130,359,505 — — 130,359,505 45,676,407 2,089,634 — 47,766,041 82,593,464 84,683,098
3 Woodden Partition 13,106,094 — — 13,106,094 13,035,950 44,304 — 13,080,254 25,840 70,144
4 Plant and Machinery
Leased Assets 24,138,374 — — 24,138,374 24,138,374 — — 24,138,374 — —
Office Equipments &
Electricals Fittings 42,077,387 985,382 67,500 42,995,269 34,592,410 2,521,254 64,125 37,049,539 5,945,730 7,484,977
Computer, UPS,
Network & Server 59,966,931 1,232,077 910,860 60,288,148 57,948,246 834,012 867,773 57,914,485 2,373,663 2,018,685
126,182,692 2,217,459 978,360 127,421,791 116,679,030 3,355,266 931,898 119,102,398 8,319,393 9,503,662
5 Furniture & Fittings 18,989,180 763,327 45,781 19,706,726 18,053,950 296,532 43,485 18,306,997 1,399,729 935,231
6 Vehicles 29,114,653 — — 29,114,653 24,443,059 1,252,800 — 25,695,859 3,418,794 4,671,595
Total Tangible Assets 1,946,535,527 2,980,786 1,024,141 1,948,492,171 217,888,395 7,038,536 975,383 223,951,549 1,724,540,622 1,728,647,131
II INTANGIBLE ASSETS
1. Computer Software 4,255,425 158,475 — 4,413,900 3,744,306 222,254 — 3,966,560 447,340 511,119
Total Intangible Assets 4,255,425 158,475 — 4,413,900 3,744,306 222,254 — 3,966,560 447,340 511,119
GRAND TOTAL 1,950,790,952 3,139,261 1,024,141 1,952,906,071 221,632,702 7,260,790 975,383 227,918,109 1,724,987,962 1,729,158,250
Previous Year 1,934,583,597 18,285,857 2,078,502 1,950,790,952 215,638,342 7,969,720 1,975,361 221,632,702 1,729,158,250 1,718,945,255
* Includes amount added on revaluation Rs.1,535,003,100 PY Rs. 1,535,003,100


Place : Chennai—35 V. BASKARAN

Date: 07.10.2020 Senior Partner
65

(Rs.) (Rs.)
Schedule-K: Other Assets
Deferred Tax Asset 91,185,722 110,826,373
Staff housing loan 4,264,573 7,225,015
Other Advances & Deposit/other 48,385,021 42,487,414

dues recoverable from borrowers
after adjusting cumulative provision
of Rs. 2,57,48,32 (L.Y Rs. 27,50,603)
Prepaid Expenses 1,136,956 749,384
Advance Income Tax 888,774,522 824,396,918
Advance Interest Tax 494,144 494,144
Advance Wealth Tax 4,756,820 4,756,820
Advance Fringe Benefit Tax 815,697 815,697
TOTAL 1,039,813,455 991,751,765
66
SCHEDULES TO PROFIT & LOSS ACCOUNT

31.03.2020 31.03.2019
(Rs.) (Rs.)
Schedule-L : Income from operations

Interest on loans and advances 1,406,266,365 1,727,969,968
Interest on investments and Deposits 52,986,648 43,601,178
Total 1,459,253,013 1,771,571,146
Schedule-M : Other Income

Dividend on shares 99,155,826 109,310,470
Profit on sale of assets 141,273 574,968
Other income
Investigation fees 22,564,020 15,858,868
Upfront fee 19,395,037 13,585,347
Risk Coverage Receipts 12,157,014 11,035,051
Miscellaneous receipts 16,917,621 18,824,276
Bad debts recovered 189,023,879 203,686,219
Interest on advances to staff 489,929 580,781
Total 359,844,599 373,455,980
Schedule-N: Interest expended

Interest on borrowings from SIDBI 0 63,253,674
Interest on borrowings from banks 168,412,741 230,629,745
Interest on deposits 231,325,713 258,293,317
Interest on bonds 148,054,149 147,750,005
Interest on others 9,375,000 9,375,000
Total 557,167,603 709,301,741
Schedule-O : Other Financial expenses

Bank charges 240,949 210,328
Guarantee fee paid to Govt.of T.N 7,510,274 7,500,000
Others 1,018,159 914,500
Total 8,769,382 8,624,828
Schedule-P: Personnel Expenses

Salaries and allowances - CMD 1,775,644 1,705,577
Salaries - others 408,074,119 529,601,500
Contribution to Provident Fund 33,020,854 36,097,898
Staff Amenities and Welfare Exp 2,573,093 2,765,390
Staff Training and Seminar Expn 1,189,700 1,931,643
Total 446,633,410 572,102,008
67
SCHEDULES TO PROFIT & LOSS ACCOUNT

31.03.2020 31.03.2019
(Rs.) (Rs.)
Schedule-Q: Administrative expenses

Travelling & Conveyance
- CMD 6,020 56,001
- Others 9,366,688 10,752,618
9,372,708 10,808,619
Directors sitting fees & expenses 79,359 65,439
Rent,Rates,Insurance and Lighting 23,271,903 22,289,217
Postage,Telegrams & Telephones 4,007,569 4,237,915
Printing & Stationery 1,750,550 1,878,099
Publicity and Advertisement & Business promotion expenses 8,208,141 4,648,848
Repairs & Renewals 5,914,145 8,847,791
Inspection & Recovery cost 2,922,309 4,039,101
Audit Fees 354,904 451,371
Legal & other professional expenses 5,669,378 6,800,783
Corporate Social Responsibility 5,000,000 2,000,000
Books and Periodicals 280,804 270,087
Expenses on Office Vehicles 7,892,565 7,960,168
Computer Maintenance Expenses 3,209,787 2,218,431
Concurrent Audit Fee 5,155,077 0
Donation 0 10,000,000
Sundries 9,624,536 5,918,215
Total 92,713,735 92,434,084
Schedule R: Waiver and Write off

Loans Written off 178,653,779 486,441,741
Other dues written off 16,841,539 15,638,587
Loans waived 331,346 —
Other dues waived 31,369 9,481
Total 195,858,033 502,089,809
68
Schedule S
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR
ENDED 31ST MARCH, 2020.
A. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES:

1. General
The accompanying financial statements have been prepared on Going Concern Concept
and presented under the historical cost convention except otherwise stated, conforming
to the applicable provision and practices, Accounting Standards and guidelines issued by
the Small Industries Development Bank of India (SIDBI).
2. Revenue Recognition
a) Income and Expenditure are generally accounted on accrual basis unless otherwise
stated.
b) Interest on non performing assets, Investigation Fees, Upfront fees, Risk coverage
receipts, lease income are accounted on cash basis.
c) Dividend income is accounted in the year when the right to receive the payment
is established.
d) 3%/6% interest subvention from Government are accounted on receipt basis.
3. Fixed Assets, Depreciation and Revaluation
a) Fixed Assets other than Land are stated on historical cost basis. Costs directly incurred
on acquisition/ take over are capitalized. Land is stated at Revalued Cost.
b) Cost of Leased assets is amortized equally over the lease period. Accumulated lease
adjustment is as per the Accounting Standard (AS 19) on leasing issued by the Institute
of Chartered Accountants of India and the same has been reduced from the leased
assets.
c) Depreciation in the case of Office Premises (other than SIDCO shed) was provided
under the Straight Line method and in respect of all other assets on written down
value method as per the rates prescribed under Schedule II of the Companies
Act, 2013 based on useful life of the asset. Depreciation is calculated on the
number of days the assets have been put to use. Individual assets costing lesser than
Rs.5,000/- are depreciated in full.
d) The book value of land whose value has undergone significant change is reviewed
once in 15 years, in order to relate them more closely to current fair value based
on Revaluation reports. The carrying cost of the Land is increased to match with the
Current Market value determined through appraisals conducted by independent
qualified valuers and the resultant difference is credited to Revaluation Reserve
account.
4. Investment
All Investments are treated as Current and carried in the Financial Statements at lower of
cost and fair value, determined on an individual scrip basis and as per the guidelines issued
by SIDBI. Any reduction in the carrying amount and any reversal of such reduction is charged
or credited to profit and loss account.
69
5. Advances
Loans and Advances including Hire Purchase Financing are classified as Standard, Sub
Standard, Doubtful and Loss as per the prudential norms prescribed by SIDBI and necessary
provision required thereon is provided. Provision on Non-Performing Assets has been netted
off against loans and advances/ other dues.
6. Staff Benefits
a. Short Term Employee Benefits
All employee benefits payable wholly within twelve months of rendering the service
are classified as short term employee benefits. Short term employee benefits, including
accumulated compensated absences as at the Balance Sheet date, are recognized
as an expense as per the Corporation's scheme based on expected obligations on
undiscounted basis.
b. Long Term Employee Benefits
The obligation for long term employee benefits such as long term compensated
absence as at the Balance Sheet date, is provided for, based on actuarial valuation
using the Project Unit Credit Method.
c. Contribution towards Provident fund
The Corporation's Provident Fund Scheme is a defined contribution plan.
The employees and the company make monthly contributions to a Provident Fund
Trust, equal to a specified percentage of the covered employee's salary.
The contribution paid/ payable under the scheme is recognized during the period
in which employee renders the related services.
d. Contribution to Gratuity Fund
The liability for Gratuity to employees as at the Balance Sheet date is determined
on the basis of actuarial valuation based on Project Unit Credit Method and is funded
to a Gratuity fund administered by the trustees. The contribution thereof paid/ payable
is charged in the books of account.
e. Voluntary Retirement Scheme (VRS)
The compensation paid towards VRS is expensed in the year of incidence.
7. Borrowing Costs
Borrowing Costs that are directly attributable to the acquisition, construction or production
of qualifying assets are capitalized as part of the cost of the Assets. Other Borrowing costs
are recognized as an expense in the period in which they are incurred.
8. Leases
The Properties taken on Lease/ rental basis are under a term of Lease/ Agreement for a
period of not less than 11 months and are renewable/ cancelable by mutual consent of
both parties of the agreement/ Lease.
9. Accounting for Taxes on Income
Income tax expense is the aggregate amount of current tax and deferred tax charged/
adjustment. Current year taxes are determined in accordance with the Income Tax Act,
70
1961, and favourable judicial pronouncements/ legal opinion. Deferred Tax Asset and
Liabilities are measured using tax rates and tax laws that have been enacted by the Balance
Sheet date.
Deferred Tax Liability is recognized on timing differences, being the difference between the
taxable income and accounting income that originates in one period and is capable of
reversing in one or more subsequent periods. The same is recognized using the rates and
tax laws that have been enacted or subsequently enacted till the date of Balance sheet.
Deferred Tax Asset on carry forward benefit of losses, Loan loss provisioning, Provision for
employee benefits, are recognized to the extent of virtual certainty of its realization against
profits.
10. Expenses on Intangible Assets
Intangible Assets comprising of system software are stated at cost of acquisition including
any cost attributable for bringing the same to its working condition less accumulated
depreciation. Any expenses on such software for support and maintenance payable
annually are charged to revenue account. Capitalised software is depreciated as per the
life applicable to server.
11. Impairment of Assets
The carrying costs of Assets are reviewed each year to find out whether there is any
Impairment on account of changes in circumstances and the same is recognized in
accordance with the Accounting Standard 28.
12. Contingent Liabilities/ Provisions
Past events leading to possible or present obligations are treated as contingent liability.
Provision is recognized in case of present obligations where a reliable estimate can be made
and/ or where probable outflow of resources embodying economic benefits will be required
to settle the obligation. No contingent assets are recognized in the accounts.
13. Prior Period Adjustments
Considering the nature of Business, all prior period adjustments including those ascertained
and determined during the year are accounted under respective heads of accounts.
14. Appropriation of Repayments
a. Loan receipts are appropriated as follows:
1. Other dues
2. Interest
3. Principal
b. Receipts in the case of one time settlement/ disposal of primary/ collateral securities
by the Corporation are appropriated as follows:
1. Principal
2. Other dues
3. Interest
c. Receipts subject to pending compliance of terms and conditions of OTS are
appropriated as referred in (a) above.
71
B. DISCLOSURES TO COMPLY WITH THE ACCOUNTING STANDARDS:
1. Employee Benefits:
1.1 GRATUITY
I. PRINCIPAL ACTUARIAL ASSUMPTIONS
Particulars 31.03.2020 31.03.2019
[Expressed as weighted averages]
Discount Rate 6.39% 7.17%
Salary Escalation Rate 5.00% 5.00%
Attrition Rate 0.50% 0.50%
Expected rate of return on Plan Assets 8.00% 8.00%
II. CHANGES IN THE PRESENT VALUE OF THE OBLIGATION (PVO) - RECONCILIATION OF
OPENING AND CLOSING BALANCES
(Rs. in lakhs)
PVO as at the beginning of the period 4193.17 4805.19
Interest Cost 265.27 312.84
Current Service Cost 39.23 33.00
Past Service cost - (non vested benefits) 0 0
Past Service cost - (vested benefits) 0 0
Benefits paid (986.88) (835.03)
Actuarial (gain)/ loss on obligation (96.57) (122.82)
PVO as at the end of the period 3414.23 4193.17
III. CHANGES IN THE FAIR VALUE OF PLAN ASSETS - RECONCILIATION OF OPENING AND
CLOSING BALANCES
Fair value of plan assets as at the beginning
of the period 2835.52 2730.20
Expected return on plan assets 241.67 212.81
Contributions 1357.65 695.00
Benefits paid (986.88) (835.03)
Actuarial gain/ (loss) on plan assets (21.25) 32.54
Fair value of plan assets as at the end of the period 3426.72 2835.52
IV. ACTUAL RETURN ON PLAN ASSETS

Expected return on plan assets 241.67 212.81
Actuarial gain/ (loss) on plan assets (21.25) 32.54
Actual return on plan assets 220.43 245.35
72
31.03.2020 31.03.2019
(Rs. in lakhs)
V. ACTUARIAL GAIN / LOSS RECOGNIZED
Actuarial gain/ (loss) for the period - obligation 96.57 122.82
Actuarial gain/ (loss) for the period - Plan Assets (21.25) 32.54
Total (gain)/ loss for the period (75.32) (155.36)
Actuarial (gain)/ loss recognized for the period (75.32) (155.36)
Unrecognized actuarial (gain)/ loss at the end
of the period 0 0
VI. AMOUNTS RECOGNISED IN THE BALANCE SHEET AND RELATED ANALYSIS

Present value of the obligation 3414.23 4193.17
Fair value of Plan Assets 3426.72 2835.52
Difference (12.49) 1357.65
Unrecognized transitional liability 0 0
Unrecognized past service cost - non vested benefits 0 0
Amount determined under para 55 of AS 15R (12.49) 0
Net Liability recognized in the Balance Sheet 0 1357.65
Present value of the future reduction in
contribution under para 59(b) of AS 15R 12.49 0
Net Asset Recognised in the Balance Sheet 12.49 0
VII. EXPENSES RECOGNISED IN THE STATEMENT OF PROFIT AND LOSS

Current service cost 39.23 33.00
Interest cost 265.27 312.84
Expected return on plan assets (241.67) (212.81)
Net actual (gain)/ loss recognized in the year (75.32) (155.36)
Transitional liability recognized in the year 0 0
Effect of limit as per para 59(b) read with
para 61(g) of AS 15R 0 0
Expenses recognized in the Statement of Profit and Loss (12.49) (22.33)
VIII. MOVEMENTS IN THE LIABILITY RECOGNIZED IN THE BALANCE SHEET

Opening net liability 1357.65 2074.99
Expense as above (12.49) (22.33)
Contribution paid (1357.65) (695.00)
Closing net liability (12.49) 1357.65
73
31.03.2020 31.03.2019
IX. AMOUNT FOR THE CURRENT PERIOD (Rs. in lakhs)
Present value of obligation 3414.23 4193.17
Plan Assets 3426.72 2835.52
Surplus/ (Deficit) 12.49 (1357.65)
Experience adjustments on plan liabilities - (loss)/ gain 200.90 117.07
Experience adjustments on plan assets - (loss)/ gain (21.25) 32.54
X. MAJOR CATEGORIES OF PLAN ASSETS (AS PERCENTAGE OF TOTAL PLAN ASSETS)

Government of India Securities/
State Government Securities 55.00% 55.00%
High Quality Corporate Bonds 40.00% 40.00%
Equity Shares of listed companies 0.00% 0.00%
Property 0.00% 0.00%
Special Deposit Scheme 0.00% 0.00%
Funds managed by insurer 0.00% 0.00%
Others 5.00% 5.00%
Total 100.00% 100.00%
XI. ENTERPRISE’S BEST ESTIMATE OF CONTRIBUTION DURING NEXT YEAR (Rs. in lakhs)
Particulars 31.03.2020 31.03.2019
Best Estimate of Contribution NA NA
1.2 EARNED LEAVE

I. PRINCIPAL ACTUARIAL ASSUMPTIONS [Expressed as weighted averages]
Particulars 31.03.2020 31.03.2019
Discount Rate 6.39% 7.17%
Salary Escalation Rate 5.00% 5.00%
Attrition Rate 0.50% 0.50%
Expected rate of return on Plan Assets 0.00% 0.00%
II. CHANGES IN THE PRESENT VALUE OF THE OBLIGATION (PVO) - RECONCILIATION OF
OPENING AND CLOSING BALANCES (Rs. in lakhs)
31.03.2020 31.03.2019
PVO as at the beginning of the period 2414.92 2698.41
Interest Cost 148.51 174.74
Current Service Cost 99.82 103.91
Benefits paid (687.38) (495.26)
Actuarial gain/ (loss) on obligation 205.22 (66.87)
PVO as at the end of the period 2181.09 2414.92
74
III. CHANGES IN THE FAIR VALUE OF PLAN ASSETS - RECONCILIATION OF OPENING AND
CLOSING BALANCES
(Rs. in lakhs)
31.03.2020 31.03.2019
Fair value of plan assets as at the beginning
of the period 0 0
Expected return on plan assets 0 0
Contributions 687.38 495.26
Benefits paid (687.38) (495.26)
Actuarial gain/ (loss) on plan assets 0 0
Fair value of plan assets as at the end of the period 0 0
IV. ACTUAL RETURN ON PLAN ASSETS

Actuarial gain/(loss) on plan assets 0 0
Actual return on plan assets 0 0
V. ACTUARIAL GAIN / LOSS RECOGNIZED
Actuarial gain/ (loss) for the period - obligation (205.22) 66.87
Actuarial gain/ (loss) for the period - Plan Assets 0 0
Total (gain)/ loss for the period 205.22 (66.87)
Actuarial (gain)/ loss recognized for the period 205.22 (66.87)
Unrecognized actuarial (gain)/ loss at the
end of the period 0 0
VI. AMOUNTS RECOGNISED IN THE BALANCE SHEET AND RELATED ANALYSIS
Present value of the obligation 2181.09 2414.92
Fair value of Plan Assets 0 0
Difference 2181.09 2414.92
Unrecognized transitional liability 0 0
Unrecognized past service cost -
non vested benefits 0 0
Liability recognized in the Balance Sheet 2181.09 2414.92
VII. EXPENSES RECOGNISED IN THE STATEMENT OF PROFIT AND LOSS
Current service cost 99.82 103.92
Interest cost 148.51 174.74
Net actual (gain)/ loss recognized in the year 205.22 (66.87)
Transitional liability recognized in the year 0 0
Expenses recognized in the Statement of
Profit and Loss 453.55 211.77
75
31.03.2020 31.03.2019
(Rs. in lakhs)
VIII. MOVEMENTS IN THE LIABILITY RECOGNIZED IN THE BALANCE SHEET
Opening net liability 2414.92 2698.41
Expense as above 453.55 211.77
Contribution paid (687.38) (495.26)
Closing net liability 2181.09 2414.92
IX. AMOUNT FOR THE CURRENT PERIOD

Present value of obligation 2181.09 2414.92
Plan Assets 0 0
Surplus/ (Deficit) (2181.09) (2414.92)
Experience adjustments on plan liabilities - (loss)/ gain (143.08) 63.55
Experience adjustments on plan assets - (loss)/ gain 0 0
X. MAJOR CATEGORIES OF PLAN ASSETS (AS PERCENTAGE OF TOTAL PLAN ASSETS)

Government of India/State Govt. Securities 0.00% 0.00%
High Quality Corporate Bonds 0.00% 0.00%
Equity shares of listed companies 0.00% 0.00%
Property 0.00% 0.00%
Special Deposit Scheme 0.00% 0.00%
Funds managed by Insurer 0.00% 0.00%
Others 0.00% 0.00%
Total 0.00% 0.00%
XI. ENTERPRISE'S BEST ESTIMATE OF CONTRIBUTION DURING NEXT YEAR

Best Estimate of Contribution 0 0
2. Segment Reporting:
The Corporation is engaged primarily in the business of financing and there are
no separate reportable segments as per AS-17 (Segment Reporting)
3. Related Party Disclosures (AS-18)

Key Managerial Personnel
Name Designation Period
Dr. (Tmt) M. Aarthi MD From 01.04.19 to 31.03.20
Thiru S. Chockanathan CFO From 01.04.19 to 31.03.20
Thiru D. Durairaj Company Secretary From 01.04.19 to 31.03.20
Remuneration paid to Key Managerial Personnel is Rs. 51.40 lakhs (Previous Year
Rs. 61.17 lakhs).
76
4. Earnings per Share:
The calculation of earnings per share is given below:
(Rs. in lakhs)
31.03.2020 31.03.2019
Earnings for the year 3018.82 3653.40

Number of shares 42,09,956 37,59,956
Earnings Per Share (Rs.) 71.71 97.17
5. Deferred Tax Assets/ Liabilities:

The major components of Deferred tax Assets/Deferred tax Liabilities are as follows:
(Rs. in lakhs)
DTA/DTL COMPONENTS 31.03.2020 31.03.2019
Deferred Tax Assets
1. Loan Loss Provisions 443.23 575.54
2. Provision for employee benefits 635.13 703.23
Total - DTA (A) 1078.36 1278.77
Deferred Tax Liabilities
On account of Depreciation (B) 166.50 170.50
Net Deferred Tax {(A) - (B)} 911.86 1108.27
Deferred Tax Asset Previous Year 1108.27 2212.67
Provision for Deferred Tax (196.41) (1104.40)
6. Revaluation of Lands:
Revaluation of lands owned by the Corporation was done through appraisals

conducted by independent qualified valuers on 31-03-2007 and the resultant
appreciation held under revaluation reserve as on 31.03.2020 is Rs.15350.03 lakhs
(Rs.15350.03 lakhs).
7. Depreciation has been provided on the basis of useful life of the assets as prescribed
by Schedule II to the Companies Act 2013.
The useful life of the assets in respect of Software is estimated at 6 years.
C. DISCLOSURE TO COMPLY WITH THE REQUIREMENT OF CONTROLLING AUTHORITIES OF THE

CORPORATION
1) Provisions for loan losses have been made on the outstanding after considering monies
held under deposits. All credit exposures are classified as per the Regulator's guidelines
into performing and non-performing assets. NPAs are further classified into sub standard,
doubtful and loss assets based on the criteria stipulated by the Regulator and provisions
are made as per the Accounting Policy.
77
2) MOVEMENT OF PROVISIONS:
(Rs. in lakhs)
PARTICULARS NPA INVESTMENTS OTHER ASSETS TOTAL
Opening Provisions for advances/
investments/ other assets 2447 570 27 3044
Add: Addition during the year 43 1215 0 1258
Less: Write Offs/ Write Backs/ Recovery
during the year 0 0 1 1
Closing Balance 2490 1785 26 4301
3) DATA ON WORKING RESULTS AND FINANCIAL POSITION (Disclosure made to the extent
possible in compliance with SIDBI’s guidelines, vide Circular dated 04.05.2001)
S.No. Particulars Current Year Previous Year
A. Interest income as a percentage of average
working funds 9.24% 10.25%
B. Non-interest income as a percentage of
average working funds 2.71% 4.03%
C. Operating Profit as a percentage of
average working funds 4.69% 4.52%
D. Operating Profit per employee (Rs. In lakhs) 25.86 23.32
E. Net Risk Weighted Assets (Rs. in lakhs) 1,30,547 1,37,608
F. Core Capital Adequacy Ratio 41.27% 33.85%
G. Tier II Capital Adequacy 6.60% 6.39%
H. Capital Adequacy Ratio (CAR) 47.87% 40.25%
I. Percentage of Net NPAs to Net Loans and Advances 6.54% 4.08%
J. Percentage of Net NPA (Sub Standard) to
Net Loans and Advances 5.17% 2.03%
K. Percentage of Net NPA (Doubtful) to
Net Loans and Advances 1.37% 2.05%
L) Movement of NPAs (Rs. in lakhs)

FINANCIAL YEAR 2019-20 2018-19
LOAN CATEGORY GROSS PROV NET GROSS PROV NET
SUB STANDARD 6369 958 5411 2631 399 2232
DOUBTFUL 1967 527 1440 3135 892 2243
LOSS 1005 1005 0 1155 1155 0
TOTAL 9341 2490 6851 6921 2446 4475
4) Credit exposures as percentage to total assets, in respect of:

• The largest single borrower is Rs.3802 lakhs, 2.55% to total assets.
• The largest single borrower group is Rs.3802 lakhs, 2.55% to total assets.
• The 10 largest borrowers is Rs.9450 lakhs, 6.33% to total assets.
• The 10 largest borrower group is Rs.9450 lakhs, 6.33% to total assets.
78
5) MATURITY PATTERN OF ASSETS AND LIABILITIES
In compiling the information of Maturity pattern, certain estimates and assumptions
have been made by the Management, which have been relied upon by the auditors.
(Rs. in lakhs)
<=1 YR >1 YR >3 YRS >5 YRS >7 YRS >10 YRS TOTAL
PARTICULARS & UPTO & UPTO & UPTO & UPTO
3 YRS 5 YRS 7 YRS 10 YRS
ASSETS 48559 43534 20552 11995 7250 17409 149299

LIABILITIES 34324 26297 6379 5000 5443 71856 149299
GAP 14235 17237 14173 6995 1807 -54447 0
D. OTHER MATTERS
i) Confirmation of Loans and Advances:
Balance in respect of loan accounts have been treated as confirmed, since there
is no dispute regarding the demand notice (which includes outstanding amount) sent
by the Corporation.
ii) Income Tax department has raised certain demands in connection with accrued
interest on sticky loans and deduction u/s 36, etc. The Corporation went on appeal
& had earlier won the cases in the Income Tax Appellate Tribunal. However the
Department went on appeal to the High Court and the High Court has given the
verdict in favour of the Corporation. Order giving effect to the High Court Judgement
is yet to be received from the Income Tax Department.
No tax demand / appeal is pending as at 31.03.2020.
iii) As per the common dividend policy evolved by the State Government, vide
G.O.Ms.No.123 Finance Department dated 19th May 2014, the State PSUs have to
declare 30% of the Net Profit (after tax) or 30% of the paid up share capital whichever
is higher subject to availability of disposable profit. The Dividend payable for the
Financial year 2019-2020 as per the above G.O. is Rs.9.05 crores subject to availability
of disposable profit. As the Corporation wiped out the accumulated losses only
recently and in order to build reserves for the future and to meet other long term
commitments, the Corporation has proposed 1% dividend amounting to Rs. 4.21 crores
leaving a gap of Rs. 4.84 crores.
iv) The COVID-19 pandemic spread across India had created an unprecedented level
of disruption in economic activities.
The Government of India declared a nation wise lock down effective from March
25, 2020, which still inforce.
The impact of the COVID-19, on the Company's business disbursement and the asset
quality would depend on the time taken for economic activities to resume to normal
levels, which remains uncertain.
RBI announced the COVID-19 Regulatory Package following which, the company has
extended the option of moratorium for installments and interest falls due between
March 1, 2020 and May 31st 2020 to all eligible customers.
79
Further in line with RBI Notification dated 17.04.2020 regarding moratorium / asset
classification, (due to COVID-19 Pandemic) the company has extended the benefit
as on 31.03.2020 and the details are as under:
Rs. in crores
i. Amount due in respect of overdue instalments 4.18
ii. Amount due in respect of overdue interest 4.78
iii. No. of Loan accounts 2283

(All above accounts are Standard as on 01/03/2020)
E. Contingent Liabilities:
(Rs. in lakhs)
Particulars Current Year Previous Year
(i) Claims of borrowers not acknowledged as debts 200 350
(ii) Others 649 618
F. The Corporation has no "suppliers/ vendors" as such to be classified as required by

"The Micro, Small and Medium Enterprises Development Act, 2006".
G. Figures of the previous year have been regrouped/rearranged, wherever necessary.



80
A) CASH FLOW FROM OPERATING ACTIVITIES: 2019-2020 2018-2019
Rs. Rs.
Net Profit/(Loss) before Tax 402,811,827 510,780,802
Adjustments for:
Depreciation & lease charge for the year 7,260,790 7,969,720
Loss/(Profit) on Sale of Fixed Assets (141,273) (574,968)
409,931,344 518,175,554
Adjustment for:
(increase) Decrease in Investments 121,470,009 3,362,449
(increase) decrease in advances 500,400,556 3,223,023,978
(Increase)decrease in other assets (67,702,341) (4,914,068)
Increase (decrease) in other Liabilities (380,049,946) 193,081,502
(i) 584,049,622 3,932,729,415
Direct Taxes due / paid (ii) (81,289,000) (35,000,000)
(i + ii) 502,760,622 3,897,729,415
B) CASHFLOW FROM INVESTMENT ACTIVITIES:
Purchase of Fixed Assets (3,139,261) (18,285,857)
Proceeds from sale of assets 190,032 678,109
(2,949,229) (17,607,748)
C) CASHFLOW FROM FINANCING ACTIVITIES:
Increase(decrease) in capital 450,000,000 550,000,000
Increase (decrease) in borrowings (774,224,535) (2,305,346,500)
Increase(decrease) in deposits (383,280,713) (1,414,685,642)
(707,505,248) (3,170,032,142)
Net increase/(decrease) in cash and
cash equivalents (A+B+C) (207,693,855) 710,089,525
Cash and Cash equivalents at the
beginning of the year 1,537,716,251 827,626,726
Cash and Cash equivalents at the
end of the year 1,330,022,396 1,537,716,251
D) DETAILS OF CASH AND CASH EQUIVALENTS
AT THE END OF THE YEAR
Cash in hand 2,321,165 4,725,357
Reserve Bank of India 180,168 146,100
Current A/c with Scheduled Banks 453,735,697 416,407,110
Term Deposits with Banks 873,785,366 1,116,437,684
TOTAL 1,330,022,396 1,537,716,251



81
VISHWANATH SINGH JADON, IA & AS ACCOUNTANT GENERAL (AUDIT-II)
TAMIL NADU & PUDUCHERRY
COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION

143(6)(b) OF THE COMPANIES ACT, 2013 ON THE FINANCIAL STATEMENTS OF TAMIL NADU
INDUSTRIAL INVESTMENT CORPORATION LIMITED, CHENNAI FOR THE YEAR ENDED 31ST
MARCH 2020.
The preparation of financial statements of Tamil Nadu Industrial Investment

Corporation Limited, Chennai for the year ended 31st March 2020 in accordance
with the financial reporting framework prescribed under the Companies Act, 2013
is the responsibility of the management of the Company. The Statutory Auditors
appointed by the Comptroller and Auditor General of India under Section 139(5)
of the Act are responsible for expressing opinion on the financial statements under
Section 143 of the Act based on independent audit in accordance with standards
on auditing prescribed under section 143 (10) of the Act. This is stated to have been
done by them vide their Audit Report dated 07.10.2020.
I, on behalf of the Comptroller and Auditor General of India, have conducted

a supplementary audit of the financial statements of Tamil Nadu Industrial Investment
Corporation Limited, Chennai for the year ended 31 March 2020 under Section 143(6)(a)
of the Act. This supplementary audit has been carried out independently without access
to the working papers of the Statutory Auditors and is limited primarily to inquiries of the
Statutory Auditors and company personnel and a selective examination of some of the
accounting records.
On the basis of my supplementary audit nothing significant has come to my

knowledge which would give rise to any comment upon or supplement to the Statutory
Auditors’ Report under Section 143(6)(b) of the Act.
For and on the behalf of the

Comptroller & Auditor General of India
Place : CHENNAI VISHWANATH SINGH JADON

Date : 02.12.2020 Accountant General
82
PATTERN OF SHAREHOLDING AS ON 31.03.2020
No. of Shares % as on
S.No. Name of the Shareholder (Rs. 1,000/- each) 31.03.2020
1. Government of Tamilnadu 3,035,228 72.10
2. SIPCOT 500,000 11.87
3. Small Industries Development Bank of India, 170,000 4.04

Mumbai
4. TIDCO 500,000 11.87
5. Government of Puducherry 1,500 0.04
6. Insurance Companies 1,160 0.03
7. Other Banks including Co-op. Banks 2,068 0.05
TOTAL 4,209,956 100.00
83
HEAD OFFICE
TELEPHONE FAX E-MAIL
692, 'MHU' Complex, 044-24331203 044- [email protected]
Anna Salai, Nandanam, 044-24306100 24347150
Chennai - 600 035. Website: http://www.tiic.org 044-
24347209
REGIONAL APPRAISAL CELL OFFICES
1) CHENNAI
New No. 692, Anna Salai, 044- [email protected]
Ground Floor, Right Wing, 48529514
Nandanam, Chennai - 600 035.
2) COIMBATORE
No. 94, Dr. Nanjappa Road, I Floor 0422- [email protected]
United Shopping Complex, 2302231
Coimbatore - 641 018.
3) MADURAI
No. 1A, 2nd East Cross Street 0452- [email protected]
I Floor (Reliance Fresh Upstairs) 2533018
Anna Nagar, Madurai 625 020.
4) SALEM
Sri Lakshmi Complex, 1st Floor 0427- [email protected]
4/22, Omalur Main Road 2448315
Swarnapuri, Salem - 636 004.
5) TIRUNELVELI
5C / 5B, Hotel Shakuntala Shopping Complex 0462- [email protected]
II Floor, Trivandrum Road, 2502721
Vannarpettai,
Tirunelveli - 627 003
6) TRICHY
K.R.T. Building, II Floor, 0431- [email protected]
No. 33, Promenade Road, 2414177
Contontment,
Trichy - 620 001.
BRANCH OFFICES
1) CHENNAI
New No. 692, Anna Salai, Ground Floor, 044- [email protected]
Right Wing, Nandanam, 48529518
Chennai - 600 035.
2) TIRUVALLUR
86, C&D, II Main Road, 044- [email protected]
Ambattur Industrial Estate, 26257664
Chennai - 600 058.
3) MARAIMALAI NAGAR
HIG No. 42&43, 1st Floor, M.G.R. Salai, 044- [email protected]
Off. G.S.T. Road, Maraimalai Nagar 27451650
Chengalpattu Dist. - 603 209.
84
4) VELLORE
Vasan ENT Clinic, I Floor, 0416- [email protected]
73/A, Katpadi Main Road, 2249861
Gandhi Nagar, Vellore - 632 006
5) CUDDALORE
No. 60/1B, Imperial Plaza, Nellikuppam 04142-
Main Road, Near Dist. Employment Office, 230831 [email protected]
Semmandalam, Cuddalore - 607 001
6) COIMBATORE
No. 94, Dr. Nanjappa Road, I Floor, 0422-
United Shopping Complex, 2380520 [email protected]
Coimbatore - 641 018.
7) TIRUPUR
Kumaran Shopping Complex, 0421- [email protected]
II Floor, Kumaran Road, 2207489
Near Railway Station
Tirupur - 641 601.
8) ERODE
C.S. Sengottiah Complex, II Floor, No. 23, 0424- [email protected]
Chidambaram Colony, 80 feet Road, 2262080
Periyar Nagar, Erode - 638 001.
9) KURICHI 0422- [email protected]

Plot No. 91, First Floor, COSIEMA Complex 2670084
Kurichi SIDCO Industrial Estate (West)
Kurichi,Coimbatore - 641 021
10) MADURAI
No. 1A, East Cross Street (First Floor) 0452- [email protected]
(Reliance Fresh Upstairs) 2533331
Anna Nagar, Madurai - 625 020.
11) DINDIGUL
Plot No.9, Spencer Compound, II Floor, 0451- [email protected]
Tiruvalluvar Salai, Near Bus Stand, 2433785
Dindigul - 624 003.
12) KARAIKUDI SATELLITE OFFICE
D.No.49/3, Keelamel 120 Feet Road, 04565- [email protected]
Renault Car Show Room upstairs, 230210
Near New Bus Stand,
Karaikudi - 630 002.
13) SALEM
Sri Lakshmi Complex, I Floor 0427- 0427- [email protected]
4/22, Omalur Main Road, 2440444 4042054
Swarnapuri, Salem - 636 004.
85
14) NAMAKKAL SATELLITE OFFICE

No. 20/127A-5B, First Floor 04286- [email protected]
80 Feet Road, Salem Road 277667
Namakkal - 637 001
15) DHARMAPURI
DDDC Building (Upstairs), 04342- [email protected]
Pennagaram Road, 260866
Dharmapuri - 636 702.
16) HOSUR
Plot No. 308&309, SIPCOT Housing Colony 04344- [email protected]
SIPCOT Industrial Complex
(Opp. LAL), Near SBI/SIPCOT Shopping 275596
Complex, Hosur - 635 126.
17) TIRUNELVELI
5C/5B, Hotel Shakuntala Shopping Complex, 0462- [email protected]
II Floor, Trivandrum Road, 2502038
Vannarpettai,
Tirunelveli - 627 003.
18) THOOTHUKUDI
No. 4/35, N.P.S. Complex, II Floor, 0461- [email protected]
Polpettai, 2346082
Near Bus Stand,
Tuticorin - 628 002.
19) NAGERCOIL
37, Cape Road, 04652- [email protected]
Nagercoil - 629 001. 232859
20) SIVAKASI
No. 98/C4, Second Floor, 04562- [email protected]
Chairman Shanmuga Nadar Road, 229322
Sivakasi - 626 123
21) TRICHY
KRT Building, II Floor, 0431- [email protected]
No. 33, Promenade Road, 2460498
Cantonment,
Trichy - 620 001.
22) PUDUKKOTTAI SATELLITE OFFICE
'Mena Complex', 04322- [email protected]
I Floor, T.S. No.2430/31, 222354
West Main Street,
Pudukkottai - 622 001.
23) THANJAVUR
2854, N.G.K. Apartment, 04362- [email protected]
Opp. to Arul Theatre, 230465
Nanjikottai Road,
Thanjavur - 613 001.
86
24) KARUR
66/1, 5th Cross, 1st Floor, 04324- [email protected]
Sengunthapuram 235581
Karur - 639 002.
25) VILLUPURAM
23A, Ranganathan Street, I Floor 04146- [email protected]
Woodlands Complex, 229131
Chennai-Trichy Trunk Road,
Villupuram - 605 602
SATELLITE OFFICES
1) TIRUVANNAMALAI
4-A, Lakshmipuram I Floor, 04175- [email protected]
Bye-Pass Road, Gandhi Nagar, 253032
Tiruvannamalai - 606 602.
2) RAMANATHAPURAM
No.1130-C, I Floor, 04567- [email protected]
Opp. To Sothurani, 232474
Ramnad-Rameswaram Road,
Bharathi Nagar,
Ramanathapuram - 623 504.
3) THENI
Room No. 22, D.No. 297, Chinthamani 04546- [email protected]
Ammal Complex, Near Kottakudi Palam, 251982
Cumbum Road, Theni - 625 531.
4) VIRUDHUNAGAR 04562- [email protected]

No. 27-C, 1st Floor, Railway Feeder Road, 243911
Virudhunagar - 626 001.
5) PERAMBALUR [email protected]
No. 132, I Floor, Mathanagopalapuram 04328-
2nd Street, 276659
Perambalur - 621 212
6) NAGAPATTINAM [email protected]
Door No. 12/1, LRJ Complex, 04365-
II Floor, (Opp. to Military Canteen) 225656
Naduvar Keela Street
Nagapattinam - 611 001.
7) SRIPERUMBUDUR [email protected]
No. 5, Ramanujar Street, 044-
No. 77, Bangalore Trunk Road, 27162665
Near Pandian Hospital,
Sriperumbudur - 602 105.
8) GUMMIDIPOONDI [email protected]
No. 711-A, North SIPCOT Road 044-
Gummidipoondi 29565679
87
PRINCIPAL OFFICERS AT HEAD OFFICE
Sl. Name of the official

No. (Thiru/Tmt.) Designation
1. T. Kirubakaran General Manager
2. G. Srinivasan General Manager
3. S. Muralidharan Deputy General Manager
4. R. Ravichandran Assistant General Manager
5. D. Durairaj Assistant General Manager/

Company Secretary
6. R.J. Ramesh Assistant General Manager
7. R. Palanivel Assistant General Manager
8. M. Rangaraju Senior Manager
9. A.J.S. Raju Senior Manager
88

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THE TAMILNADU INDUSTRIAL INVESTMENT

2. SYNOPSIS OF BALANCE SHEET 6

4. NOTICE TO THE SHAREHOLDERS 8

5. REPORT OF THE BOARD OF DIRECTORS 9

6. INDEPENDENT AUDITOR'S REPORT TO SHARE HOLDERS 48

8. PROFIT AND LOSS ACCOUNT 55

9. SCHEDULES TO BALANCE SHEET 57

10. SCHEDULES TO PROFIT & LOSS ACCOUNT 67

11. NOTES FORMING PART OF PROFIT AND LOSS 69

1. Thiru N, Muruganandam, IAS.,

37,600 Paid up Capital 42,100

25,443 Reserves & Surplus 28,041

1,250 Loan in lieu of capital 1,250

31,647 Deposits 27,814

15,000 Bonds 15,000

— Refinance from SIDBI —

23,996 Line of Credit – Banks 16,253

22,220 Other Liabilities 18,841

157,156 Total 149,299

PROPERTY & ASSETS

15,377 Cash & Bank Balances 13,300

157,156 Total 149,299

Share Capital 37,600 42,100

FINANCIAL HIGHLIGHTS 2018-2019 2019-2020

Gross Income 21,450 18,191

(i) Total assistance sanctioned

c) To transact other business of which due notice is given to the company.

(By order of the Board)

Place : Chennai-35 D. DURAIRAJ

Table-5. Industry-wise distribution of Credit

• The Corporation has a mechanism to Recovery:

1. Prl. Waiver involved cases 6 6.45 297.05 0.29 303.79

2. Int. Waiver involved cases 35 -- 11907.36 2.78 11910.14

Total 41 6.45 12204.41 3.07 12213.93

6 6.45 297.05 7.02 --

32 -- 2,438.64 350.88 234.54

1. No. of units taken possession for the year 2019-20 51

6. Number of Units sold/disposed during the year 2019-20 - 3

2017-18 -- 198.55 -- 41.10 157.45

• The Honourable Chief Minister of Medium Enterprises (MSME). It follows

As on 31.03.2020, the Corporation's Board were in the following Directors:

Sl. Nature of Date of

1. Thiru N. Muruganandam, IAS. Principal Secretary to Non-Executive 14.03.2019

COMMITTEES OF THE BOARD

Sl.No Designation Status

Sl.No Name of the Beneficiary Purpose Amt. Rs.

For and on behalf of Board of Directors

8. The Tamilnadu Tea Plantation

Extract of ANNUAL RETURN as on the Financial Year ended 31.03.2020

I. REGISTRATION AND OTHER DETAILS :

ii) Registration Date : 26-03-1949

iii) Name of the Company : Tamilnadu Industrial Investment

iv) Category / Sub-category

v) Whether listed company : Yes

vi) Name,address and contact : M/s. NSDL Database Management Limited

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY :

Term Loan lending

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

i) Category-wise share holding

No. of shares held at the No. of shares held at the