For Official use
The Food Corporations Act, 1964
( As on 29th
August 2001 )
The Food
Corporations Rules & Regulations, 1965
( As on 19th
May, 2004 )
The Food Corporation of
16-20,
APPENDIX
1.7
THE FOOD CORPORATIONS ACT, 1964
ACT NO. 37 OF 1964
(AS AMENDED UPTO 12TH
MAY, 2000)
10th December, 1964.]
An
Act to provide for the establishment of Food Corporations
for the purpose of trading in foodgrains and other
foodstuffs and for matters connected therewith and incidental thereto.
Be it enacted by Parliament in the
Fifteenth Year of the Republic
of
CHAPTER
I
PRELIMINARY
1.
Short title, extent and commencement
(1) This Act may be called
the Food Corporations Act, 1964.
*1
(2) It extends to the whole of
*2 (3) It
shall come into force on such
date as the Central
Government may, by notification in the Official Gazette, appoint.
2. Definitions
In this Act, unless the context otherwise requires,--
(a)
"Corporation"
means the Food
Corporation of
established under section 3;
(b) "Food Corporation" means the Food Corporation of
established
under section 3 or a State Food Corporation
established
under section 17;
3*[(bb)
"foodstuffs" includes edible oil seeds and oils;
(c) "prescribed" means prescribed by rules made under this
Act;
(d) "scheduled bank"
means a bank
for the time
being
included in the Second Schedule to the Reserve Bank of
(e) "State Food Corporation" means a State Food
Corporation
established under
section 17;
*
(f) "year" means the financial year.
---------------------------------------------------------------------
1. Omitted by Act 67 of
1972, s.2.
2. 17.12.1964,
vide Notification No.GSR 1808, dt.
16.12.1964 Gazette of
3. Ins. by Act 67 of
1972, s.3.
CHAPTER II
THE FOOD CORPORATION OF
1*
3. Establishment of Food Corporation of
(1) With effect from such date
as the Central Government may, by
notification in the Official Gazette,
specify in this behalf, the Central
Government shall establish for the purposes of
this Act a Corporation known as the Food Corporation of
(2) The Corporation shall be a body
corporate with the name
aforesaid, having perpetual succession and a common seal with power, subject to the
provisions of this Act, to acquire, hold and dispose of property and to
contract, and may, by that name, sue and be sued.
4. Offices and agencies.
(1) The head office of the Corporation shall be at
2* The Corporation may
establish offices or agencies at other
places in or outside
Provided that no such office or agency
shall be established at
any place outside
5. Capital of Corporation.
(1) The original
capital of the Corporation shall be such
sum not exceeding one hundred crores of rupees as the Central Government may fix.
(2) The Central Government may from
time to time increase the
capital of the
Corporation to such extent and in such
manner as that Government may determine.
(3) Such capital may
be provided by the Central Government from
time to time after due appropriation made by Parliament by law for
the purpose and subject to such terms
and conditions as may be determined by that Government.
*
1. 1.1.1965;
vide Notification No. GSR 1809, dated 16.12.1964, Gazette of
2. Subs. by Act of 67
1972, s.4
6. Management
(1) The general superintendence, direction
and management of the affairs and business of the Corporation shall vest in
a board of directors which may exercise
all such powers and do all such acts and
things as may be exercised or done by the Corporation under
this Act.
(2) The board of
directors, in discharging its functions, shall act on business principles having regard
to the interests of the
producer and consumer and shall be
guided by such instructions on questions of policy as may be given to it
by the Central Government.
(3) If any doubt
arises as to whether a question is or is not a question of policy, the
decision of the Central Government thereon shall be final.
7. Board of Directors
(1) The board
of directors of the
Corporation shall consist of the
following, namely:--
(a) a Chairman;
(b) three directors to represent
respectively the Ministries
of the Central Government
dealing with--
(i) food,
(ii) finance, and
(iii) co-operation;
(c) the
managing director of
the Central Warehousing
Corporation established
under section 3 of the
Warehousing
Corporations Act, 1962 (58 of
1962), ex
officio;
(d) a managing
director;
(e) six other
directors.
(2) All the directors of the Corporation other than
the director
referred to in clause (c) of sub-section (1) shall be appointed by
the Central Government.
(3) The managing
director shall--
(a) exercise such powers
and perform such duties as the
board of directors may entrust or
delegate to him; and
(b) receive such salary
and allowances as the
board of
directors may,
with the approval
of the Central
Government, fix:
Provided that the first
managing director shall receive
such salary and allowances as the Central Government may fix.
(4) The term of
office of, and the manner of
filling casual vacancies
among, the directors of the
Corporation, other than the director referred to in
clause (c) of sub-section (1), and the other terms and
conditions of appointment
of the directors
of the Corporation shall, subject to
the provisions of sub-section
(3), be such as may be prescribed.
8. Disqualification for office
of director
A person shall be disqualified for being appointed as, and for being, a director
of the Corporation--
(a) if he is, or at any time has
been, adjudicated insolvent
or has
suspended payment of his debts or has compounded
with his
creditors; or
(b) if he is
of unsound mind and stands so declared by a
competent
court; or
(c) if he is
or has been convicted of any offence which in
the opinion of the
Central Government involves moral
turpitude;
or
(d) if he has been removed or dismissed from the
service of
the
Government or a corporation owned or
controlled by
the
Government; or
(e) except in the
case of the Chairman or
the managing
director,
if he is
a salaried official of the
Food
Corporation
of
9. Removal and resignation of
directors
(1) The
Central Government may, at any
time, after consultation with the Corporation, remove the managing director
from office after giving him a reasonable opportunity of showing cause against
the proposed removal.
(2) The board of
directors may remove any director
from office who--
(a) is or has become subject to any
of the disqualifications
mentioned in
section 8; or
(b) is absent without leave of the board of directors from
more than three consecutive meetings thereof without
cause
sufficient, in the opinion
of the board,
to
exonerate
his absence.
(3) A director of the
Corporation may resign his office by giving notice thereof in writing
to the Central Government
and on such resignation being accepted, he
shall be deemed to have vacated his office.
10. Meetings
(1) The Board of
Directors of the Corporation shall meet at
such times and places
and shall observe
such rules of procedure in regard to
the transaction of business at its meetings (including the quorum at
meetings) as may be provided by regulations made by the Corporation
under this Act.
(2) The Chairman of the board or, if for any reason
he is unable to attend any meeting, any other
director elected by the directors
present at the meeting, shall preside at the meeting.
(3) All questions which come up before any meeting of the board shall
be decided by a majority of the votes of the directors
present and voting, and, in the event of an equality of votes, the
Chairman, or in his absence, the person presiding, shall have and exercise a second or casting vote.
11. Advisory Committees
(1) The
Central Government may,
in consultation with the
Corporation, by notification in the
Official Gazette, constitute one or more Advisory Committees consisting
of such persons and on such terms and conditions as may be prescribed.
(2) It shall be the
duty of any such Advisory Committee to advise the Central Government or
the Corporation in regard to any
matter connected with the purposes of this Act in respect of which its
advice is sought by the Central Government, or, as the case may be, by the Corporation.
(3) The expenses in relation to the Advisory
Committees shall be met by the Corporation.
12. Officers and other employees of Corporation
(1) The Central
Government shall, after
consultation with the Corporation,
appoint a person to be the Secretary of the Corporation.
(2) Subject to
such rules as may be
made by the
Central Government in this
behalf, the Corporation may appoint
such other officers and employees as
it considers necessary for the efficient performance of its functions.
(3) The methods of
appointment, the conditions of service and the scales of pay of
the officers and other employees of the Corporation shall--
(a) as respects the Secretary, be such as may be prescribed;
b) as respects the other officers
and employees, be such as may be determined
by regulations made
by the Corporation under this Act.
*1
12A. Special provisions
for transfer of
Government employees to
the
Corporation in certain cases.
(1) Where the Central
Government has ceased or ceases to perform any functions which under section
13 are functions of the Corporation, it shall be lawful for the
Central Government to transfer, by order
and with effect from such date or dates (which may be either
retrospective to any date not earlier than the 1st January, 1965, or
prospective) as may be specified in the
order, to the Corporation any of the
officers or employees serving in the Department of the Central Government
dealing with food or any
of its subordinate or attached
offices and engaged in the performance of those functions:
Provided that no order
under this sub-section shall be
made in relation to any officer or employee in such Department or office who
has, in respect of the proposal of the
Central Government to transfer such officer
or employee to the Corporation,
intimated within such time as may be
specified in this behalf by
that Government, his intention of not becoming an employee of
the Corporation.
(2) In making
an order under
sub-section (1), the
Central Government shall, as
far as may be,
take into consideration
the functions which the Central Government has ceased or ceases to
perform and the areas in which such functions have been or are performed.
*2 (3) An
officer or other employee transferred by an order made
under sub-section (1) shall, on and from the date of transfer, cease to be an employee of the Central Government and
become an employee of the Corporation with such designation as the Corporation
may determine and shall, 1*[subject to the provisions of sub-sections (4), (4A), (4B), (4C), (5) and
(6)], be governed by the regulations made by the Corporation under
this Act as
respects remuneration and
other
conditions of service including
pension, leave and provident fund, and shall continue to be an officer or employee of the
Corporation unless and until his employment is terminated by the Corporation.
*
----------------------------------------------------------------------1. Ins. By Act 57 of 1968, s.2
2. Subs.
by Act of 1977 s.2 (w.e.f. 31.12.76)
(4) Every officer or other employee transferred by an
order made under sub-section (1)
shall, within six months
from the date
of transfer, exercise his option in writing to be governed,--
(a) by the scale
of pay applicable to the post held by him
under
the Government immediately before the
date of
transfer
or by the scale of pay applicable to the
post
under the
Corporation to which he is transferred.
(b) by the
leave, provident fund,
retirement or other
terminal benefits
admissible to employees
of the
Central
Government in accordance with the
rules and
orders
of the Central Government as amended from time
to time or the leave, provident fund or other
terminal
benefits admissible to the employees of the Corporation
under the regulations
made by Corporation under this
Act,
and such option once exercised
shall be final:
Provided that the option
exercised under clause (a) shall
be
applicable only in respect
of the post to which
such officer or
employee is transferred to the Corporation and on
appointment to a
higher post under the
Corporation, he shall be eligible only for the
scale of pay applicable to
such higher post:
Provided further that if
immediately before the date
of his
transfer any such officer or employee is officiating in a
higher post
under the Government either
in a leave vacancy or in any other vacancy
of a specified duration, his pay, on transfer,
shall be protected for
the unexpired period of
such vacancy and thereafter
he shall be
entitled to the scale
of pay applicable to
the post under
the
Government to which he
would have reverted or to the
scale of pay
applicable to
the post under
the Corporation to
which he is
transferred, whichever he
may opt:
Provided also that when
an officer or other employee serving in
the Department of the Ministry of the Central Government
dealing with
food or in any
of its attached or subordinate offices is promoted to
officiate in a higher
post in the Department or office subsequent to
the transfer to the
Corporation of any other officer
or employee
senior to him in
that Department or office before such transfer, the
officer or other employee who is promoted to officiate
in such higher
post shall, on transfer
to the Corporation, be entitled
only to the
scale of pay applicable to the
post he would have held but for such
promotion or the scale
of pay applicable to
the post under
the
Corporation to which he is
transferred, whichever he may opt.
1*[(4A) Notwithstanding
anything contained in sub-section (4)--
(a) every officer or
other employee in respect of
whom an order of transfer under sub-section (1) had been made
before the date of commencement of the Food
Corporations (Amendment) Act, 1977 (hereafter in this section referred
to as the appointed day) shall, whether
or not he had exercised the
option under sub-section (4)
before the appointed day, exercise such option within six months from the
appointed day; and
(b) every officer or
other employee in respect of whom
an
order of transfer under sub-section (1) may be
made after the
appointed day shall, within
six months from the date or
such
order, exercise his
option under sub-section (4),
and in each such option
once exercised shall be final:
Provided that where an officer or other
employee having exercised
an option under sub-section
(4) before the appointed day--
(i) has
died or retired before the appointed day, or dies or
retires after the appointed
day, before exercising the option as required by this sub-section, or
(ii) does not exercise
the option as required by this sub-
section,
the option already exercised by him
shall be deemed to have
been
validly exercised by him
under sub-section (4).
(4B) Where an officer
or other employee--
(a) has died or retired, or dies or retires, after an
order
of transfer under
sub-section (1) in respect of such
officer or other employee is made but before
exercising the option under
sub-section (4) or, as the case
may be, as required by
sub-section (4A); or
(b) has died or retired, or dies or
retires, before an order
of transfer under
sub-section (1) in respect of such
officer or other employee is made,
he shall, notwithstanding anything contained in
sub-section (4) or
sub-section (4A),--
(i)
in a case falling under
clause (a), be deemed to have
exercised an option
under sub-section (4); and
(ii) in a case
falling under clause (b), be deemed to have
been transferred under sub-section (1) and exercised and option
under sub-section (4)
*
1. Ins. By Act 12 of 1977
s.2 (w.e.f. 31.12.76)
to be governed by
the leave, provident fund, retirement
or other
terminal benefits
admissible to the
employees of the
Central
Government in accordance with the rules
and orders of the Central
Government as amended from
time to time:
Provided that nothing in
clause (a) of this sub-section shall
apply to an officer
or other employee who has, before
the appointed
day, been paid the terminal
benefits as admissible to the employees of
the Corporation under the
regulations made by the
Corporation under
this Act, unless such officer or other employee refunds
in a lump sum
within six months from
the appointed day the amount of contributions
made by the Corporation
towards such terminal benefits:
Provided further that nothing
in clause (b) of this sub-section
shall apply to an
officer or other employee who has intimated, under
the proviso to sub-section (1), his
intention of not becoming
an
employee of the
Corporation.
(4C) Where an officer
or other employee has exercised an option
under sub-section (4), or
exercises, or is deemed to have exercised,
an option under that
sub-section, read with sub-section (4A) or sub-
section (4B), to be governed by the leave, provident fund,
retirement
or other terminal benefits admissible to the employees
of the Central
Government, such benefits shall be calculated on the basis of
the pay
and allowances drawn by him
in the Corporation.]
(5) No officer or
other employee transferred
by an order made
under sub-section (1),--
(a) shall
be dismissed or
removed by an
authority
subordinate
to that competent to make
a similar or
equivalent
appointment under the Corporation as may
be
specified in the regulations made by
the Corporation
under this
Act;
1*[(b) shall be dismissed
or removed or reduced in
rank
except
after an inquiry in which he has been informed
of the
charges against him and
given a reasonable
opportunity of being
heard in respect
of those
charges:]
2*[Provided that where it
is proposed after such inquiry,
to
impose upon him any
such penalty, such penalty may be imposed on the
basis of the evidence adduced during such inquiry and
it shall not be
necessary to give such
person any opportunity of making representation
on the penalty proposed:]
*
1.
Subs. by Act 53 of
1982, s.2
2.
Ins. By s. ibid
1*[Provided further
that] this clause shall not apply,--
(i)
where an officer or employee is
dismissed or removed or
reduced
in rank on the ground of conduct which
has led
to his
conviction on a criminal charge; or
(ii) where the authority
empowered to dismiss or remove an
officer
or employee or
to reduce him
in rank is
satisfied
that for some reason, to be recorded by
that
authority
in writing, it is not reasonably
practicable
to hold such
inquiry; or
(iii) to an officer
or employee who, after transfer to the
Corporation,
is appointed to a higher
post under the
Corporation
in response to an open advertisement and in
competition
with outsiders.
(6) If, in respect of any such officer or employee as
aforesaid,
a question arises whether it is
reasonable practicable to hold such
inquiry as is referred to in sub-section (5), the
decision thereon of
the authority empowered to
dismiss or remove him or to reduce him in
rank shall be final.
(7) Nothing contained in
sub-section (1) shall apply
to the
members of the Central Secretariat Service or any other
service or to
persons on deputation to
the Department referred to in
that sub-
section or to any
of its attached or subordinate offices from any
Ministry of the Central
Government or from any State Government or
from any organisation.]
13. Functions of Corporation.
(1) Subject to the provisions of this Act, it shall be
the primary duty of the Corporation to undertake the purchase, storage, movement transport, distribution and sale of foodgrains
and other foodstuffs.
(2) Subject as aforesaid,
the Corporation may also, with
the
previous
approval of the Central Government,--
(a) promote by such means as it
thinks fit the production of
foodgrains
and other foodstuffs;
(b) set up, or
assist in the setting up of,
rice mills,
flour mills and other
undertakings for the processing
of foodgrains
and other foodstuffs; and
(c) discharge such other
functions as may be prescribed or
as are supplemental, incidental
or consequential to any
of the functions conferred on it
under this Act.
*
1. Subs.
by Act 53 of 1982, s.2.
14. Executive Committee and other Committees
(1) The
Board of Directors of the
Corporation may constitute an Executive
Committee which shall consist of--
(a) the Chairman
of the board;
(b) the managing
director; and
(c) three other directors, of whom
one shall be a non-
official.
(2)
The Chairman of the board of directors shall be the
Chairman of the Executive.
(3) Subject to the
general control, direction and
superintendence of the board of directors, the Executive Committee
shall be competent to deal with any matter within the competence of the
Corporation.
(4) The board of directors may constitute such other
committees, whether consisting wholly of directors or wholly of other persons or
partly of directors and partly of other
persons as it thinks fit, for such purposes as it may decide.
(5) A committee constituted under this section
shall meet at
such times
and places and shall observe such rules of procedure in
regard to the transaction of business at its meetings (including the
quorum at meetings) as may be provided by regulations made by the Corporation under
this Act.
(6) The members of
a committee (other than the directors of the board) shall be paid by the
Corporation such fees and allowances as may be fixed by
it by regulations made under this
Act for attending the meetings of
the committee and for attending to any
other work of the Corporation.
15. Member
of Board or Committee thereof not to vote in
certain cases
A
member of the board of directors
of the Corporation or a committee
thereof who has any direct or indirect pecuniary interest in any matter coming
up for consideration at a meeting of the board of directors or committee
thereof, shall, as soon as
possible after relevant circumstances have come to his knowledge, disclose the
nature of his interest at such meeting and the disclosure shall be
recorded in the minutes of the board or
the committee, as the case may be, and the member shall not take any part in any deliberation
or decision of the board or committee with respect to that matter.
CHAPTER III
BOARDS OF MANAGEMENT
16. Board of Management, their constitution and functions.
(1) The Central
Government may, on a request received in this behalf from the State
Government or Governments concerned or
otherwise, by notification
in the Official Gazette, establish a
Board of Management for a State or two or
more contiguous States, if
no State Food
Corporation
is functioning in such State or States.
(2) The head office
of the Board of Management shall be at such
place as the Central Government may, by notification in the Gazette, specify.
(3) The Board of
Management shall consist of--
(a) a Chairman to be appointed by the board of
directors of
the Food
Corporation of
(b) the
senior-most executive officer
of the said
Corporation
employed at the head office of the Board of
Management;
and
(c) not more than
ten other members to be appointed by the
board of
directors of the said Corporation.
(4)
The members of
a Board of Management referred to in
clauses(a) and (c) of
sub-section (3) shall hold office for a term of two years and shall be
eligible for re-appointment and the other terms and conditions of their
appointment shall be such as may be prescribed.
(5) The Board of Management shall advise the
Corporation on such matters as may
be generally or specifically referred to
it and shall perform such other functions as the Corporation may delegate to
it.
(6) The provisions of sections 20, 21 and 25
shall, so far as may be, apply in
relation to the members of a Board of Management as they apply in relation
to the members of the board of directors of a State Food Corporation:
Provided that the reference to the General Manager in
clause (e)
of section 20 shall be construed as a reference to the
officer of the
Corporation referred to in
clause (b) of sub-section (3).
(7) The
Food Corporation of
a Board of Management,
appoint such staff as it considers
necessary to enable that Board to perform its functions under this Act.
(8) The Board of
Management may, by order in writing,
authorise any one or more
of its members to exercise and perform, subject to such
conditions and limitations, if any,
as may be specified in the order, such of its powers and functions as it
may think fit.
(9) The Board of Management shall
follow such procedure as may
be provided by regulations made by the
Food Corporation
of
(10) Where a Board of
Management has been established--
(i) for a State,
or
(ii) for two or
more States,
then such
Board shall stand dissolved--
(a) in
the case referred
to in clause
(i),
on
the establishment of a
Food Corporation for that State,
and
(b) in
the case referred
to in clause
(ii), on
the establishment of such Corporation for any one or more of such States.
(11) Where a Board of Management
stands dissolved under
clause (b) of sub-section (10), the Central
Government may establish a new Board of
Management for the State
or States for
which no Food Corporation has been established.
(12) The
expenses of the Board of Management in the discharge of
its functions under this
Act shall be met by the Food
Corporation of
CHAPTER IV
STATE FOOD CORPORATIONS
17.
Establishment of State Food Corporation.
(1) The Central Government may, by notification in the
Official Gazette and
after consultation with the
Government of a
State, establish a Food
Corporation for that State under such
name as may be specified in the notification.
(2)
A State Food Corporation established under sub-section
(1) shall be a body
corporate by the name notified under that sub-section, having perpetual succession and a common seal with power, subject to the
provisions of this Act, to acquire, hold and dispose of property
and to contract, and may, by the said name, sue and be sued.
(3) The
head office of a State Food Corporation shall be at
such place within the State as may
be notified by the Central
Government in the Official Gazette.
(4)
Subject to
the provisions of
this Act, a
State
Food Corporation may perform such of the functions of the Food
Corporation of
18. Capital of State Food Corporation
(1) The capital of a State Food Corporation shall be such sum not
exceeding ten crores
of rupees as the Central Government may,
after consultation with
the Food Corporation of
(2) The Central Government may, after
such consultation, from
time to time increase
the capital of the State Food Corporation to such extent and in
such manner as that Government may determine.
(3) Such capital shall be provided--
(a) by the Central
Government after due appropriation made
by Parliament
by law for the purpose, and
(b) by the Food
Corporation of
in such proportion and subject to such terms and
conditions as may be
determined by the Central
Government.
19. Management of
State Food Corporation.
(1) The
general superintendence, direction
and management of the
affairs and business of a State Food
Corporation shall vest in a board of directors which shall consist of a
Chairman, a General Manager and not more than ten other members, all of whom shall be appointed by the Food
Corporation of
(2) The General
Manager shall--
(a) exercise such powers
and perform such duties as the
board of
directors may entrust or delegate to him; and
(b) receive such salary
and allowances and be governed by
such
terms and conditions of service
as the board of
directors may, in
consultation, with the
Food
Corporation
of
(3) The
board of directors, in
discharging its functions, shall act on
business principles having regard to the
interests of the producer and consumer and
shall be guided by such instructions on questions of policy as
may be given to it by the Food Corporation of India.
(4)
If any doubt arises as to whether a question is or is not
a question of policy, the
matter shall be referred
to the Central Government whose decision thereon
shall be final.
(5)
The members of the
board of directors, other than the
General Manager, shall be
entitled to receive by way of
remuneration or fees such sums as may be prescribed:
Provided that no official
member shall be entitled to receive
any remuneration other
than any allowances admissible to him
under the rules regulating
his conditions of service.
(6)
The term of office of,
and the manner of filling
casual vacancies among, the
members of the board of directors shall
be such as may be prescribed.
20. Disqualification
for office of member of board of directors.
A person shall be disqualified for being appointed as, and for
being, a member of the board of directors of a State Food Corporation--
(a) if he is, or at any time has
been, adjudicated insolvent
or has
suspended payment of his debts or has compounded
with his creditors; or
(b) if he is
of unsound mind and stands so declared by a
competent
court; or
(c) if he is
or has been convicted of any offence which in
the
opinion of the Central Government involves moral
turpitude;
or
(d) if he has been removed or dismissed from the
service of
the
Government or a corporation owned or
controlled by
the
Government; or
(e) except in the
case of the Chairman
or the General
Manager,
if he is
a salaried official of
the Food
Corporation
of Indian or a State Food Corporation.
21. Removal and
resignation of members of board of directors.
(1)
The Food Corporation of
consultation with the State Food
Corporation, remove the General
Manager from office after giving him
a reasonable opportunity of showing cause against the proposed removal.
(2) The board of directors of a State Food
Corporation may remove
from office any member
of that board who--
(a) is or has become subject to any
of the disqualifications
mentioned in
section 20, or
(b) is absent without leave of the board of directors from
more
than three consecutive meetings thereof without
cause
sufficient, in the opinion
of the board,
to
exonerate his absence.
(3)
A member of such board may resign his office by giving notice
thereof in writing to
the Food Corporation of
on
such resignation being accepted,
he shall be deemed to
have vacated his office.
22. Meetings.
(1) The
board of directors
of a State
Food Corporation shall meet at such times and places and shall observe
such rules of procedure in regard to
the transaction of business at
its meetings (including the quorum at meetings)
as may be provided by regulations made by that Corporation under
this Act.
(2) The Chairman of the
board of directors or, if for any
reason he is
unable to attend any meeting, any
other
member of the board elected by the members
of the board
present
at the meeting, shall preside at
the meeting.
(3) All
questions which come up before
any meeting of the board
of directors shall be
decided by a majority of the
votes of the members present and voting, and, in the
event of an equality of votes, the Chairman
or in his absence, the person presiding shall have and exercise
a second or casting vote.
23. Appointment of
officers, etc., and
their conditions of
service.
(1) A State
Food Corporation may appoint such
officers and
other employees
as it considers
necessary for the
efficient performance
of its functions.
(2) Every
person employed by a State Food Corporation under
this Act shall
be subject to such conditions of
service
and
shall be entitled to such
remuneration as may be
determined by regulations made by that
Corporation under
this Act.
24. Executive Committee and other Committees.
(1) The board of directors of a
State Food Corporation may
constitute an
Executive Committee which shall consist of--
(a) the Chairman
of the board of directors;
(b) the General
Manager; and
(c) three other members
of the board of directors, of whom
one shall be
a non-official.
(2) The Chairman of the board of directors shall be
the Chairman
of the Executive
Committee.
(3) Subject to the general control,
direction and superintendence
of the board of directors, the Executive Committee
shall be
competent to
deal with any matter within
the competence
of the
State Food Corporation.
(4) The
board of directors may constitute such other committees,
whether
consisting wholly of members of the board or wholly
of other persons
or partly of such members
and partly of
other persons as
it thinks fit, for such purposes as it may
decide.
(5) A committee constituted under this
section shall meet at such
times and places and
shall observe such rules of procedure
in regard to
the transaction of business at its meetings
(including the quorum
at meetings) as may be provided by
regulations made
by the State Food Corporation under this
Act.
(6) The
members of a committee (other
than the directors of the
board) shall be paid
by the State Food Corporation such
fees and allowances as may be
fixed by it by regulations
made under this
Act, for attending the meetings of the
committee and for
attending to any other work of that
Corporation.
25. Member of board or committee thereof not to vote in certain
cases.
A member of the board of directors of a State
Food Corporation
or a committee thereof who has
any direct or
indirect pecuniary interest in
any matter coming up for consideration at a meeting of the board of directors or
committee thereof, shall, as soon
as possible after relevant circumstances
have come to his knowledge, disclose the nature of his interest
at such meeting and the disclosure shall be recorded in the
minutes of the board or the committee, as the case may be, and the member
shall not take any part in
any deliberation or decision of the board or the committee with respect
to that matter.
CHAPTER
V
FINANCE, ACCOUNTS AND
AUDIT
26. Submission
of programme of
activities and financial
estimates.
(1)
A Food Corporation shall, before the commencement of
each year, prepare a statement of programme
of its activities during the forthcoming
year as well as a
financial estimate in
respect thereof.
(2) The statement prepared under sub-section (1)
Shall, not less than three months
before the commencement of each year, be
submitted for approval--
(a) in the case
of the Food Corporation of
Central
Government;
(b) in the case
of a State Food Corporation, to the Food
Corporation
of
(3)
The statement and
the financial estimate
of a Food corporation referred to in
sub-section (1) may, with the
approval of the Central
Government, in the case of the Food Corporation of
27. Borrowing
powers of Food
Corporation
(1)
A Food Corporation may, for the
purpose of carrying out its functions under this Act,--
*2 (a) take advances against stocks of
foodgrains
or other
foodstuffs held by it, or borrow money--
(i) from any scheduled bank, or
(ii) from any
other bank or
financial institution
approved by
the Central Government in this behalf, or
(iii) from
any other authority,
organisation
or
institution or from the public on such terms and
conditions as may
be approved by the Central Government;
or
(b) issue and sell bonds and
debentures carrying interest at
such
rates as may be fixed by the Central
Government at
the time the
bonds or debentures are issued:
3* Provided that the amount
borrowed by a Food Corporation
under clause (b)* shall not
at any time exceed ten times the paid-up
capital and the reserve fund established under section 33.
(2) The Central Government may guarantee the loans and advances taken by
a Food Corporation under sub-section (1) as to the re-payment of principal and the payment of interest thereon and other
incidental charges.
1* [(3)
A Food Corporation may, for
the purpose of carrying out its functions under this
Act, also borrow money from
the Central Government, and that Government may, after due appropriation made by
Parliament by law in this behalf,
pay to the Food Corporation such
sums of money by way of
loan on such terms and conditions as that
Government may determine].
28. Lending by Food Corporation on security of foodgrains
A Food Corporation may lend or
advance money to any person engaged in the production of foodgrains upon the security of foodgrains
or such other security as may be prescribed, for any purpose
connected with such production.
*
1. Ins. By Act 67 of 1972,
s.5
2. Subs. by Act 36 of
1988
3. Subs. by ACT 34
of 2001
29. Power
to enter into agreement for purchase
of foodgrains
after
harvest
(1) A Food Corporation may enter into agreement with
any grower of foodcrops for the
purchase of foodgrains after
the harvest of such crops and any
such agreement may provide that any sum payable by the Corporation to the
grower under such agreement shall be payable to
any scheduled bank or other
financing agency nominated by the grower
in this behalf to such extent as may be specified in the
agreement.
(2) The scheduled bank or other financing agency referred to in
sub-section (1) may, on the basis of any agreement referred to in that
sub-section, lend money to a grower of foodcrops who has entered into such agreement.
30.
Guarantee by Food Corporation.
A Food Corporation may,
upon such terms and conditions as it
may think fit, guarantee any loan referred to in sub-section (2) of section 29, and also
any other loan raised by a grower of foodcrops, which
is re-payable within a period not exceeding five years.
31. Funds
of Food Corporation
(1) A Food Corporation shall have its own fund and
all receipts of the Corporation shall be credited thereto and all
payments of the Corporation shall be met therefrom.
(2) Such fund shall
be applied for meeting all administrative expenses of the Food,
Corporation and for carrying out the purposes of this Act.
32. Investment
of funds
A Food Corporation may invest its funds in the
securities of the Central Government or any State Government or in such other
manner as may be prescribed.
33.
Allocation of surplus profits
(1) A Food Corporation shall establish a reserve fund
to which shall be credited every
year such portion of its annual net profits as that Corporation thinks fit.
(2) After making provision for such reserve fund and
for bad and doubtful debts, depreciation in assets and all other matters which
are usually provided for by companies registered and incorporated under the Companies Act, 1956
(1 of 1956), the balance of its annual net profits shall
be paid--
(a) in the case
of the Food Corporation of
Central
Government, and
(b) in the case of a State Food Corporation, to the
Central
Government
and the Food Corporation of
same
proportion as the capital provided by them.
34. THE FOOD CORPORATIONS (AMENDMENT) ACT,
2000
(12TH
May, 2000)
An Act further to amend
the Food Corporations Act, 1964.
Be
it enacted by Parliament in the Fifty-first Year of the
1.(1)
This Act may be called the Food Corporations (Amendment) Act, 2000.
(2)
It shall come into force on such date as the Central Government may, by
notification in the official Gazette, appoint.
2.
In the Food Corporations Act, 1964, for section 34, the following section shall
be substituted, namely:-
“34.
(1) A Food Corporation shall maintain proper accounts and other relevant
records and prepare an annual Statement of accounts including the profit and
loss account and the balance-sheet in such form as may be prescribed by the
Central Government in consultation with the Comptroller and Auditor-General of
India.
(2)
The accounts of a Food Corporation shall be audited annually by the Controller
and Auditor-General of
(3)
The Comptroller and Auditor-General of India and any person appointed by him in
connection with the audit of the accounts of a Food Coporation
shall have the same rights, previleges and authority in connection with such audit as
the Comptroller and Auditor-General has in connection with the audit of
Government accounts and, in particular, shall have one right to demand the
production of books, accounts, connected vouchers and other documents and
papers and to inspect any office of the Food.
(4)
The accounts of a Food Corporation as certified by the Comptroller and
Auditor-General of India or any other person appointed by him in this behalf
together with the audit report thereon shall be forwarded annually by the
Comptroller and Auditor-General of India to:-
(i) the Food
Corporation concerned,
(ii) where the accounts relates to a State Food
Corporation,
also to the Food Corporation of
(iii)
the Central Government.
and that Government shall, as soon thereafter as may be, cause the
same to be laid before both Houses of Parliament.”
SUBHASH
C. JAIN
Secy.
to the Govt. of
35. Annual report on the working of Food
Corporations
(1)
A Food Corporation shall, as soon as possible
after the end of each year,
submit to the Central Government an annual report on the working
and affairs of the Corporation.
*1
(2)The Central Government shall, as
soon as may be after the receipt
of such report, cause
such report and
the audit report received under section 34
[together with any comments thereon or supplement thereto by the
Comptroller and Auditor-General of India] to be laid before both Houses of
Parliament.
CHAPTER VI
MISCELLANEOUS
36. Vacancies,
etc., not to invalidate acts or
proceedings of
Food
Corporation, etc
(1) No act or
proceeding of a Food Corporation or a
committee thereof or a Board of Management shall be invalid by
reason only of the existence of any vacancy in, or any defect in
the constitution of, the board of directors
of the Food Corporation or such
committee or Board of Management.
(2) No act done by any
person acting in good faith as a member of a board of directors of a Food
Corporation or of a Board of Management shall be deemed to
be invalid by reason only of his disqualification for being appointed as,
or for being, a member of
such board of directors or Board of Management.
*
-----------------------------------------------------------------------1. Sub. By Act 67 of 1972 s.7
37.
Delegation
A
Food Corporation may, by general
or special order in writing,
delegate to the Chairman or any other member of the
board of directors or the
Secretary or other officer of the Corporation, subject to such
conditions and limitations,
if any, as
may be specified in the order,
such of its powers and functions
under this Act as it may deem necessary.
38.
Declaration of fidelity and secrecy
Every
director, member of an Advisory Committee or other committee, auditor, officer
or other employee of a Food Corporation
and every member
of a Board
of Management and its staff
shall, before entering upon his duties, make a declaration of fidelity
and secrecy in the form set
out in the Schedule.
39.
Indemnity of directors
(1)
Every member of the board
of directors of a Food
Corporation and of a Board of Management shall be indemnified by the
Corporation against all
losses and expenses incurred by him in
the discharge of his duties except
such as are caused by his own wilful act or
default.
(2) A member of the
board of directors of a Food Corporation or a Board of Management shall not be responsible for any other member or
for any officer or other employee of the
Corporation or Board of Management or for any
loss or expense resulting to the Corporation from the insufficiency or deficiency of
value of, or title to, any
property or security acquired or taken on behalf of the Corporation in good
faith, or by the insolvency or wrongful act of any person
under obligation to the Corporation or by
anything done in good faith, in the execution of the duties of his office
or in relation thereto.
40. Protection
of action taken under this Act
No
suit or other legal proceeding shall lie against a Food Corporation or any
member of the board of directors thereof or
any officer or
other employee thereof or any member
of a Board of Management or its staff or any other person authorised by a Food Corporation or a Board of Management
to discharge any functions under this
Act for any loss or
damage caused or likely to be
caused by anything which is in good faith done or intended to be done in
pursuance of this Act.
41. Offences
(1)
Whoever, without the consent in writing of a Food
Corporation, uses its name in
any prospectus or advertisement,
shall be punishable with imprisonment for a term which may extend to
six months, or with fine which may extend to one thousand rupees,
or with both.
(2) No court shall
take cognizance of any offence under
sub- section (1) except on a
complaint in writing by an officer authorised in this
behalf by the Food Corporation concerned.
42. Provision relating to
income-tax, super-tax, etc.
For the purposes of the Income-tax Act, 1961 (43 of 1961)
or any
other enactment for the time being in force relating to income-tax, super-
tax or any other tax on income, profits
or gains, a Food Corporation shall
be deemed to be a company within the meaning of the
Income-tax Act, 1961, and shall be liable
to tax accordingly on its
income, profits and gains.
43.
Winding up of Food Corporation
No provision of law relating to the winding up
of companies or corporations shall apply to a Food Corporation and it
shall not be placed in liquidation save by order of the Central Government and in such
manner as that Government
may direct.
44.
Power to make rules
(1) The Central
Government may, by notification in the Official
Gazette, make rules to carry out
the purposes of this Act.
(2) Without prejudice to
the generality of the foregoing power, such rules may provide for--
(a) the term of office of, and the manner of filling
casual
vacancies among, and the other terms and conditions of
appointment of, the directors
of the Corporation;
(b) the composition of Advisory
Committees and the terms and
conditions of service of
members thereof;
(c) the additional
functions which the
Corporation may
perform;
(d)
the remuneration or fees payable
to the members of the
board of directors of a State Food Corporation and the
term of office of,
and the manner of filling casual
vacancies among, such members;
(e) the securities (other than foodgrains) upon which a Food
Corporation may lend or advance
money;
(f) the manner in
which a Food Corporation may
invest its
funds;
(g) the form of
the annual statement of accounts and the
balance sheet to be prepared by
a Food Corporation;
(h) any other matter which has to be
or may be prescribed.
*1 (3) Every
rule made by the Central Government under this section shall be laid as
soon as may be after it is made, before each House of Parliament while it is
in session for a total period of
thirty days [which may be comprised in
one session or in two or more successive sessions, and if,
before the expiry
of the session
immediately following the session
or the successive sessions
aforesaid,] both Houses
agree in making any modification in the
rule or both Houses agree that the rule should not be made, the rule
shall thereafter have effect only in
such modified form or be of no effect, as the case may be; so however that
any such modification or
annulment shall be without prejudice to the
validity of anything previously
done under that rule.
45. Power of Food Corporation to make regulations
(1)
A Food Corporation may, with the previous sanction of the Central Government,
by notification in
the Official Gazette,
make regulations not inconsistent with this Act
and the rules made thereunder, to provide for
all matters for which provisions is necessary or expedient for the purpose of
giving effect to the provisions of this Act.
2* [(1A)
The power to make regulations under this section shall include the power to
give retrospective effect from a date not earlier than the date of
commencement of this Act, to the regulations or any of them but no
retrospective effect shall be given to any regulation so as to
prejudicially affect the interests of any person to whom such regulation may be
applicable.]
(2) Without prejudice to
the generality of the foregoing power, such regulations may provide
for--
*
1. Subs. by Act 53 of 1982 s.3
2. Added by Act 53 of 1982 s.4
(a)
the methods of appointment, the conditions of service
and the
scales of pay of the officers and employees of
a Food Corporation, other than the
Secretary of the
Food Corporation of
(b) the duties and
conduct of officers and employees
of a
Food Corporation, other
than the Secretary aforesaid;
(c) the functions and
duties which may be
entrusted or
delegated to the mananging director or, as the case may
be, the General Manager, of a
Food Corporation;
(d) the times and
places at which
meetings of a Food
Corporation or any committee thereof shall be held and
the procedure to be followed
thereat;
(e) the fees and
allowances payable to the members of
a
committee under sub-section (6) of section 14 or sub-
section (6) of section 24;
(f) generally, the efficient
conduct of the affairs of a
Food Corporation.
(3)
The Central Government may, by notification in the Official Gazette,
rescind any regulation which it has sanctioned and there-upon such regulation
shall cease to have effect.
(4)
Any regulation which may be made by the Food Corporation of India
under this Act may be
made by the Central Government within three months from the
establishment of that
Corporation and any regulation which may be
made by a State Food Corporation
under this Act may be made by the Food Corporation of India within three
months from the establishment of
such State Food
Corporation; and any regulation so made may be altered or
rescinded by the Food Corporation concerned in the exercise of its powers under
this Act.
1* [(5)
Every regulation made under this
Act shall be laid, as soon
as may be after it
is made, before each House of Parliament, while it is in session,
for a total period of thirty days which may be comprised in one session or in
two or more successive sessions and if, before the expiry of the session immediately following the session or the
successive session aforesaid,
both Houses agree in making any modification in
the regulation or
both Houses agree
that the regulation should not be
made, the regulation shall
thereafter have effect only in such
modified form or be of no effect, as the case may be; so, however, that
any such modification or annulment shall be without prejudice to the
validity of anything previously
done under that regulation.]
*
1. Added by Act 53 of 1982
s.4
*1 46.
Validation
No regulation made or
purporting to have been made with retrospective effect,
under section 45
before the commencement of the Food
Corporations (Amendment) Act, 1982 shall be deemed to be invalid or ever
to have been invalid merely on the ground that
such regulation was
made with retrospective effect
and accordingly every such
regulation and any action taken or thing
done thereunder shall
be as valid and effective as
if the provisions of section 45, as amended by the Food Corporations
(Amendment) Act, 1982, were in force
at all material times when such
regulation was made or action or thing was taken or done.]
---------------------------------------------------------------------
1 Added by Act 53 of 1982, s.4.
THE SCHEDULE
(See section 38)
DECLARATION OF FIDELITY AND
SECRECY
I,---------------------, declare that I
will faithfully, truly
and to the best of my judgment, skill and ability
execute and perform
the duties which are
required of me as director, member of -----------
committee, officer, employee or
auditor (as the case may be) of
the
Food Corporation of India/Food
Corporation or as member of the Board
of Management at------------- under the Food Corporation of
which properly relate to
the office or position in or in relation to
that Corporation held by
me.
I further
declare that I will not communicate or allow
to be
communicated to
any person not
legally entitled thereto
any
information relating to the affairs of the said Corporation or to
the
affairs of any person
having any dealing with the said Corporation nor
will I allow any
person not legally entitled as aforesaid to inspect
or have access to
any books or documents belonging to,
or in the
possession of, the said
Corporation and relating to the
business of
the said Corporation or the business of any person
having any dealing
with the said Corporation.
(Signature)------------
Signed before me.
{ }
APPENDIX 1.7
RULES
THE FOOD CORPORATIONS
RULES AND REGULATIONS
(as published in the Ministry of Agriculure,
Deptt. of Food Notifications)
(Corrected upto 19.5.2004)
G.S.R. – In exercise of the powers conferred by section 44 of the Food Corporations Act, 1964), the Central Government hereby makes the following rules namely:-
1. Short title - These rules may be called the Food Corporations Rules,
1965.
2. Definitions - In these rules, unless the context otherwise requires-
(a) “Act” means the Food Corporations Act, 1964 (37 of 1964);
*3 (aa) “Advisory Committee” means a Committee constituted under Section 11 of
the Act;
(b) “Board” means a Board of Management established under Section 16 of the
Act;
(c) “Chairman” means the Chairman of the Board of Directors of the
Corporation.
(d) “Corporation” means the Food Corporations of India established under
Section 3 of the Act;
(e) “Director” means a Director of the Corporation;
*1 (ee) “Form” means a form appended to these rules;
(f) “Managing Director” means the Managing Director of the Corporation;
(g) “Member” means a member of the Board.
*2,4,5,6 3. Term of Office of Chairman, Managing Director and other Directors-
(1) The term of office of the Chairman shall be three years from the date of his assumption of office as Chairman and he shall hold office during the pleasure of the Central Government;
· _______________________________________________________
1. Inserted vide Notification No. GSR 1528 dt. 8-10-1965
2. Amended vide Notification No. GSR 1188 dt. 27-7-1966
3. Inserted vide Notification No. GSR 1415 dt. 14-9-1967
4. Amended vide Notification No. GSR 819 dt. 29-4-1968
5. Amended vide notification No. GSR 396 dt. 19-3-1971
6. Amended vide Notification No. GSR 146(E) dt. 12-3-1985
*4 Provided that if an officer of the Government is appointed on deputation as Chairman , the term of office in his case shall not extend beyond the age of superannuation of sixty years:
Provided further that nothing contained in the foregoing proviso shall affect the term of office of a person who has been holding the post of Chairman immediately before the commencement of the Food Corporations (Amendment) Rules, 1977.
*2&5 (2) The term of office of the Managing Director shall be three years from the date of his assumption of office as Managing Director.
*3&6 Provided that if an officer of the Government is appointed on deputation as Managing Director, th term of office in his case shallbe two years from the date of his assumption of office as Managing Director or upto his reaching the age of 60 years, whichever is earlier.
*2 (3) The term of the office of a Director appointed under clause (e) of sub-section (1) of Section 7 of the Act shall be two years from the date of his assumption of office as Director and he shall hold office during the pleasure of the Central Government:
Provided that every person holding office as Chairman, Managing Director or Director immediately before he commencement of the Food Corporations (Amendmen) Rules, 1971, shall continue to hold his office by the same tenure as he held such office immediately before such commencement.
*5 (4) An out-going Chairman, Managing Director or other Director shall be eligible for re-appointmen:
Provided that the re-appointment may be for any period, as may be decided by the Central Government, not exceeding two years:
Provided further that every person holding office as Chairman, Managing Director, or other Director immediately before he commencement of the Food Corporations (Amendment) Rules, 1982, shall continue to hold his office by the same tenure as he held such office immediately before such commencement.
*1 4. Filling of Casual Vacancies among Directors – In the event of the occurance of any vacancy in the office of a director by reason of his death, resignation, removal or otherwise, the Central Government may appoint another person in his place and the person so appointed shall hold office only for such period or periods as the Central Government may determine.
· __________________________________________________________
1. Substituted vide Notification No. GSR 1004 dt. 21-6-1966
2. Amended vide Notification No. GSR 396 dt. 19-3-1971
3. Added vide Notification No. GSR 538(E) dt. 24-10-1975
4. Inserted vide Notification No. GSR 192(E) dt. 25-4-1977
5. Amended vide Notification No. GSR 78(E) dt. 24-2-1982
6. Amended vide Notification No. GSR 108(E) dt. 10-2-2000
5. Remuneration of Chairman – The Chairman shall be entitled to the following remuneration:-
*2,5&7 (i) “Pay in the scale of Rs.13000-500-15000 plus dearness allowance
prescribed from time to time by the Central Government.”
*6 Provided that if any officer of the Government is appointed as Chairman, he shall be entitled to such pay and allowances as per admissible under the rules applicable to him.
*1&6 (ii) “Unfurnished accommodation suitable to his status on deduction of ten percent o his basic pay or the standard rent as may be determined by the Food Corporation of India whichever is less. In case furnished accommodation is provided , hire charges @ 21/2% of his pay for the furnishings provided by the Corporation (cost of which shall not exceed Rs. Forty thousand ) shall be recovered.”
*4 Provided that if the Chairma, voluntarily forgoes the salary to which he is entitled under clause (i), he shall be eligible for free unfurnished accommodation suitable to his status.
*6 (iii) Free use of car for official purposes (journeys from residence to office being treated as official purposes) and for private purposes also upo one thousand kilometer limit per month. Use of official car for private purposes shall be restricted to the Headquarter town where the chairman is stationed. Log Book(s) maintained in respect of staff car(s) used by Chairman shall be closed at the end of every month and a summary prepared in the Log Book(s) showing details of journeys for official and private purposes. Charges for private use in excess of one thousand kilometer limit in a month shall be recovered at he appropriate kilometer rate fixed by the Corporation from time to time.
*3 (iv) traveling and daily allowances for journeys on tour as specified in rule 7 ; and
(iva) traveling allowances on transfer as is admissible to the highest category of officers in the whole time employment of the Corporation.
(v) other allowances and benefits (such as City Compensatory allowances, reimbursement of medical charges, membership of the Contributory Provident Fund) as are admissible to the highest category of officers in the whole-time employment of the Corporation;
*_________________________________________________________________
1. Amended vide Notification No. GSR 288 dt. 22-2-1966
2. Substituted vide Notification No. GSR 297 dt. 3-3-1967
3. Amended vide Notification No. GSR 1415 dt. 14-9-1967
4. Added vide Notification No. GSR 78(E) dt. 15-2-1972
5. Amended vide Notification No. 658(E) dt. 19-8-1983
6. Amended vide Notification No. 924(E) dt. 20-11-1987
7. Amended vide Notification No. 924(E) dt. 12-11-1997
*1,2&3 (vi) Such leave as is admissible to the highest category of officers in the whole-time employment of the Corporation. If any leave admissible to the Chairman under this clause-
(a) is refused due o requirement of public interest, he may be granted after the expiry of his term the amount of leave so refused subject to to the maximum of 120 days; and
(b) is not availed of by the Chairman during his term of office, he shall be entitled to carry forward such leave in the event of his being re-appointed under sub-rule (4) of rule 3.
Provided that if an officer of Government is appointed as Chairman, he shall be entitled to such leave, provident fund and other benefits as are admissible under the rules applicable to him.
*2 5A. Remuneration of Managing Director – In addition to the salary and allowance that may be fixed in respect of the Managing Director under Sub-section (3) of Section 7 of the Act, he shall be entitled to the following:-
*4&5 (i) “Unfurnished accommodation suitable of his status on deduction of ten percent of his basic pay or the standard rent as may be determined by the Food Corporation of India whichever is less. In case furnished accommodation is provided, hire charges @ 21/2% of his pay for the furnishings provided by the Corporation (cost of which shall not exceed Rs. Forty Thousand) shall be recovered.”
(ii) membership of the Contributory Provident Fund of the Corporation;
(iii) re-imbursement of medical charges as are admissible to the highest category of officers in the whole-time employment of the Corporation;
(iv) such leave as is admissible to the highest category of officers in the whole-time employment of the Corporation, if any leave admissible to the Managing Director under this clause is not availed of by the Managing Director during his term of office, he shall be entitled to carry forward such leave in the event of his being re-appointed under sub-rule (4) of rule 3:
· _______________________________________________________________
1. Inserted vide Notification No. GSR 579 dt. 21-3-1968
2. Amended vide Notification No. GSR 1978 dt. 18-8-1969
3. Amended vide Notification No. GSR 413 dt. 25-6-1977
4. Amended vide Notification No. GSR 924(E) dt. 20-11-1978
5. Amended vide Notification No. GSR 924(E) dt. 12-11-1997
Provided that if an officer of Government is appointed as Managing Director, he shall be entitled to such leave, provident fund and other benefits as are admissible under the rules applicable to him.
*3,8& 6. Fees of Director – Every Director, other than the Chairman, Managing
10 Director and a whole-time officer of the Government, shall be paid fees by the Corporation for attending meetings as follows:
(a) For attending meetings - Rs. 1000/- for each day of meetings.
of the Corporation
(b) For attending meetings - Rs. 600/- for each day of meeting.
of the Executive Committee
of the Corporation.
© For attending meetings of - Rs. 600/- for each day of meeting.
any other committee cons-
tituted by the Board of
Directors of the Corporation.
7. Travelling and daily allowances payable to Directors:-
*1to7 (7) Traveling and Daily Allowances of Directors :- “Every Director, other than whole time office of the Corporation, performing journey in connection with any work relating to the Corporation, shall be entitled to traveling and daily allowances as are admissible on tour to the Executive Directors of the Corporation.”
*5 9. Conveyance allowance payable to Director – (1) A Director, not being a whole-time officer of the Corporation or an officer of Government, resident at a place where the meeting of the Corporation is held, shall not be entitled to any traveling or daily allowances under rule 7, but he shall be entitled to the actual cost of conveyance hire, subject to a maximum of Rs. 35 per day.
· __________________________________________________________
1. Amended vide Notification No. GSR 1528 DT. 8-10-1965
2. Amended vide Notification No. GSR 297 dt. 3-3-1967
3. Amended vide Notification No. GSR 1978 dt. 18-8-1969
4. Amended vide Notification No. GSR 343(E) dt. 18-7-1972
5. Amended vide Notification No. GSR 16(E) dt. 22-1-1975
6. Amended vide Notification No. GSR 312(E) dt. 27-4-1981
7. Amended vide Notification No. GSR 924(E) dt. 20-11-1987
8. Amended vide Notification No. GSR 945(E) dt. 21-9-1988
9. Amended vide Notification No. GSR 945(E) dt. 12-11-1997
10. Amended vide Notification No. GSR 342(E) dt. 19-5-2004
*3&4 (2) Where any such director uses his own car, he shall be entitled to a mileage allowance at 95 paise per kilometer, subject to a maximum of Rs.35 per day.
*1&5 9A. Travelling and daily allowances payable to he members of an Advisory Committee.
Every member of an Advisory Committee not being a Chairman, Managing Director, Director of the Corporation of whole-time officer of the Corporation or an officer of Government,k performing journeys in connection with attending the meetings of an Advisory Committee, shall be entitled to the traveling and daily allowances as per admissible on tour to the highest category off Officers, that is, officers of the rank of Commercial Manager and equivalent, in the whole time employment of the Corporation.
(2) The Chairman, Managing Director, Director or any whole-time officer of the Corporation or an officer of Government, if a member of an Advisory Committee shall be entitled o such traveling and daily allowances as are admissible under the rules applicable to him for journeys performed on official duty.
*2 10. Appointment of officer and other employees
(1) The Corporation may create such posts as it considers necessary for the efficiency performance of its functions and appoint such officers and other employees thereto as it deemed fit for either on contract for a specific period or on a permanent basis.
(2) Every person appointed to a permanent post shall be on probation for a period of one year and no such person shall be confirmed in that post unless his work was satisfactory during the period of probation.
(3) Without prejudice to the provisions o sub-rule (1), the Corporation may appoint officers and other employees-
i) on deputation from Government o from any public sector or private sector undertaking; or
ii) on a short-term basis from among persons who have been superannuated from the service of Government or of any public sector or private sector undertaking,
on such terms and conditions as the Corporation may specify:
Provided that no person who has attained the age of 58 years shall be appointed to any pos carrying a basic pay o Rs.2,500/- per month and above except with the previous approval of the Central Government.
*- -----------------------------------------------------------------------------
1. Inserted vide notification No. GSR 1415 dt. 14.9.1967
2. Amended vide notification No. GSR 1123 dt. 12.5.1969
3. Amended vide notification No. GSR 16(E) dt. 22.1.1975
4. Amended vide notification No. GSR 312(E) dt. 27.4.1981
5. Amended vide notification No. GSR 924(E) dt. 20.11.1987
(3) The pay and other terms and conditions of appointment of officers and other employees employed by the Corporation shall not be moe advantageous than those obtaining in respect of similar posts in public sector undertakings or other recognized efficient business establishments and organizations.
*2&3 11. Method
of appointments, conditions of service and scale of pay of Secretary –
(1) A Secretary of the Corporation may be appointed from among the Indian
Administrative Service, Central Secretariat Service or other Central Service
Class I or from officers of Food Corporation of
*1&4 (2) The post of Secretary of the Corporation shall carry scale of pay of Rs.14,300-400-18,300 in CDA and Rs. 7000-275-8100-300-9600 in IDA pattern.
(i) where an officer belonging to the Indian Administrative Service is appointed as Secretary, his pay will be fixed under the provisions of the Indian Administrative (Pay) Rules, 1954.
(ii) In case of appointment is from other Central Service or Central Secretariat Service, the officer will be entitled to his grade pay plus deputation allowance as admissible under the general orders issued by the Government from time to time or the pay scales prescribed whichever he opts.
(3) In addition to pay, the Secretary shall be entitled to the following:-
(i) dearness allowances, children education allowance, leave travel concession (except the local allowance like city compensatory allowance, house rent allowance, etc.) in the case of persons drawn from other services, in accordance with the allowances and facilities admissible to him in the service to which he belongs and in the case of others as admissible to the highest category of officers in the whole time employment of the Corporation.
(iii) Local allowances like city compensatory allowance, conveyance allowance, house rent allowance, joining time pay and traveling allowance bothe on transfer and while on duty, as admissible to the highest category of officers in the whole ime employment of the Corporation;
(iv) Medical facilities which shall not be inferior to those to which he would have been entitled but for his transfer on deputation to the Corporation.
*--------------------------------------------------------------------------------------------------
1. Substituted vide notification No. GSR 1484 dt. 17.9.1966
2. Amended vide notification No. GSR 1741 dt. 15.11.1967
3. Amended vide notification No. GSR 1597 dt. 29.8.1968
4. Amended vide notification No. GSR 491(E) dt, 30.7.1976
5,. Amended vide notification No. GSR 491(E) dt. 12.11.97
(4) Leave shall be admissible in accordance with the leave rules applicable o the ser5vice to which he belongs in the case of officers drawn from other services and in other cases in accordance with the Food Corporation Regulations.
(5) The leave salary and pension contributions shall be paid by he Corporation to the Central or the State Government concerned at the rates in force from time to time . The Corporation shall also pay leave emoluments in respect of disability leave, if any.
*3&4 (6) The term of office of the Secretary shall be five years from the date of his assumption of office as Secretary or upto his reaching the age of 60 years whichever is earlier or such term in the case of officers appointed from other services as may be prescribed in the deputation terms on foreign service.
(7) The outgoing Secretary shall be eligible for reappointment.
*1 (8) In the event of the occurance of any vacancy in the office of Secretary by
reason of his death, resignation, removal or otherwise, th Central Government may after consultation with the Coporation, appoint another person in his place and the person so appointed shall hold office for the remaining period of the term unless he is reappointed for another term.
*2 12. Fees of members – Every member, not being a whole-time officer of the Corporation o an officer of Government shall be paid fees by the Corporation as follows:-
(a) For attending meetings of the Board – Rs. 75 for each day of the meeting.
(b) For attending meetings of any committee constituted by he Corporation – Rs. 40 for each day of meeting.
13. Travelling and daily allowances payable o members
(1) Every member, not being a whole-ime officer of the Corporation or an officer of Government, performing journeys in connection with any work relating o the Board, shall be entitled to be paid by the Corporation traveling and daily allowances.
(2) The provisions of rule 7 shall apply in relation o such member as they apply in relation to a Director, not being a whole-time officer of the Corporation or an officer of Government subject to the modification that such member shall be entitled to a daily allowance of only Rs. 25 per day.
14. Travelling and daily allowances of members, being whole-time officers of the Corporation or officers of Government
(1) Every dmember, being a whole-time officer of the Corporation or an officer of Government, shall be entitled to such traveling and daily allowances for the performance of journeys in connection with any work relating o he Board as are admissible under the ules applicable o him fourneys performed on official duy.
1. Inserted vide notification No. GSR 1004 dt. 21.6.1966
2. Amended vide notification No. GSR 870 dt. 10.5.1968
3. Amended vide notification No. GSR 485(E) dt. 6.9.1975
4. Amended vide notification No. GSR 776(E) dt. 30.12.98
(2) Where any traveling or daily allowances is paid to a member, being an officer of Government , the Corporation shall make necessary arrangements for reimbursement of the amount so paid to the authority employing such officer.
*6 15. Conveyance allowance payable to members of Board of Management
(1) A member, no being a whole-time officer of the Corporation or an officer of Government, resident at a place where a meeting of the Board is held, shall not be entitled to any traveling and daily allowances under rule 13, but he shall be entitled to the actual cost of conveyance hire, subject to a maximum of Rs. 25 per day.
*6&7 (2) Where any such member uses his own car, he shall be entitled to a mileage
allowance at 95 paise per kilometer, subject to a maximum of Rs. 25 per
day.
16. Deposit in bank or investment in securities of surplus funds – Any funds of
the Corporation
not required for current expenditure may be placed in fixed deposit with the
Reserve Bank of
*1 17. Additional functions which the Corporation may perform – The Corporation may perform functions relating to clearance handling, storage, transport and distribution of fertilizers.
*2 18. Securities upon which Corporation may lend or advance money – The Corporation may lend or advance money to any person engaged in the production of foodgrains upon the security of growing or standing crops for any purpose connected with such production.
*3&8 19. Annual statement of accounts and Balance Sheets – The form of the annual statement of accounts and the balance sheet to be prepared by the Corporation on the last working day of the month of March each year shall be set out as follow:-
i) A Balance Sheet in Form ‘A’
ii) A Schedule of fixed assets attached to and forming part of the balance sheet, in Form ‘B’ and
iii) A profit and loss account in Form ‘C’.
*4 20. Investment of funds in shares an securities – The Corporation may also invest its funds in the purchase of –
i) Securities of the Central or any State Government;
ii) Shares of State-owned or state-aided undertakings engaged in he processing of foodgrains and other foodstuffs and share of any other public or private undertakings, with the prior approval of the Central Government.
--------------------------------------------------------------------------------------------------
1. Inserted vide notification No. GSR 1144 dt. 3.8.1965
2. Inserted vide notification No. GSR 1439 dt. 17.9.1965
3. Inserted vide notification No. GSR 1528 dt. 8.10.1965
4. Inserted vide notification No. GSR 156 dt. 28.1.1966
5. Inserted vide notification No. GSR 1576 dt. 6.10.1966
6. Amended vide notification No. GSR 16(E) dt. 22.11.1975
7. Amended vide notification No. GSR 312(E) dt. 27.4.1981
8. Amended vide notification No. GSR 732(E) dt. 29.12.99
REGULATIONS
G.S.R. 118 - In exercise of the powers conferred by sub-section (4) read with sub-section (1) and (2), of section45 of the Food Corporations Act, 1964 (37 of 1964), the Central Government hereby makes the following regulations namely:-
1. Short title – These regulations may be called the Food Corporations Regulations,
1965.
2. Definitions - In these regulations-
(a) “Act” means the Food Corporations Act, 1964 (37 of 1964);
(b) “Board” means the Board of Directors referred to in section 6;
© “Chairman” means –
(i) in relation to the Board, the Chairman of the Board.
(ii) In relation the Executive Committee, the Chairman of the Executive Committee;
(iii) In relation to a Committee, the Chairman of the Committee.
(d) “Committee” means a committee other than the Executive Committee
constituted under Section 14.
(e)
“Corporation” means the Food Corporation of
3.
(f) “Director” means –
(i) in relation to the Board, a Director of the Board;
(ii) in relation to the Executive Committee, a Director of the Executive
Committee.
*2 (iii)in relation to the Committee, a Director of the Committee.
(g) “Executive Committee” means the Executive Committee constituted under
Section 14.
(h) “Member” means a member of the Committee;
(i) “Section” means a section of the Act.
3. Time and place of meetings of the Board – The Board shall meet at such time and place as the Chairman may, time to time, determine:
*1 Provided that the Board shall meet once at least in every three months.
4. Power to call a meeting of the Board – The Chairman may, at any time, call a meeting of the Board and shall do so if a requisition for that purpose is presented to him in writing by not less than three Directors specifying the subject of the meeting proposed to be called.
*---------------------------------------------------------------------------
1. Substituted vide notification No. FCR 2 of 1965 dt. 23.8.65
2. Added vide notification No. 8-1/73-BC dt. 24/27.6.74
5. Notice
for meetings – (1) Not less than
fifteen clear days’ notice of every meeting of the Board shall be given
to each Director who is for the time being in
(3) A notice may be served upon any Director either personally or by post in an envelope addressed to such Director.
(4) Any accidental omission to give any such notice to any of the Directors shall not invalidate any resolution passed at any such meeting.
(5) Notwithstanding anything contained in sub-regulation (1), a meeting of the Board at which any matter which is considered urgent by the Chairman has to be taken up, may be called at a shorter notice.
(1) of the meeting.
5. Quorum
6. (1) No business shall be transacted at a meeting of the Board unless there are present at least five Directors.
(2) If within half an hour from the time appointed for holding the meeting and quorum is no present, the meeting shall stand adjourned to a time, date and place to be determined by the Chairman:
Provided that the meeting so adjourned shall be held with 15 days of the date on which it was originally proposed to be held.
(3) A notice shall be given immediately to each Director, who is not present at the meeting, by post or telegram or special messenger as the needs of he case may require.
(3) If at any such adjourned meeting also, the quorum is not present within half an hour from the time appointed for holding the meeting, the Directors present at the meeting shall form the quorum.
7. Presidency over meetings
(1) The Chairman shall preside over every meeting of the Board.
(2) If the Chairman is not present at any such meeting, the Directors present
shall choose one from among themselves to be Chairman of the meeting.
8. Adjournment of meeting
(1) The Chairman may, with the consent of the Directors present at any meeting of the Board, adjourn the meeting from time to time.
(2) No Business other than that which is included in the agenda shall be transacted at any such adjourned meeting except with the consent of the Chairman.
(3) Notwithstanding anything contained in regulation 5, it shall not be
necessary to give any notice of a meeting adjourned under this regulation.
*
1 Substituted vide notification No. FCR1 if 1965 dt, 6.8.65
2. Substituted vide notification No. FCR4 of 1967 dt. 12.7.67
3. Substituted vide notification No 8-1/73-BC dt. 24/27.6.74
9. Transaction of business by circulation of papers
Any business which it may be necessary for the Board to transact may, if the Chairman so directs, be dealt with by circulation of papers under registered cover among all the Directors for the time being in India at their usual address, and any resolution so circulated and approved by a majority of the members signing, shall be as effectual and binding as if the resolution had been passed at a meeting of the Board.
(2) When any business is so referred to the Directors by circulation, a period of not less than ten clear days shall be allowed for the receipt of replies from the Directors, such period to be counted from the date on which the notice of business is issued.
(3) If a resolution is circulated, the results of circulation shall be communicated to all the Directors.
10. Record of business
(1) A record shall be maintained of all business transacted by the Board.
(2) All Decisions of the Board shall, as far as possible, be recorded in the form of resolutions and an entry of such decisions in the book of the proceedings of the Board shall be conclusive evidence of the fact that such decisions were taken by the Board.
(3) The proceedings of every meeting of the Board shall be circulated to all the Directors.
11. Times and places of meeting of Executive Committee
(1) The Executive Committee shall meet at such times and places as the Chairman may, from time to time, determine:
*1 Provided that the Executive Committee shall meet once at least in every two months.
12. Notice for meeting of Executive Committee
(1)
Not less than seven clear days’ notice of every meeting of the
Executive Committee shall be given to each Director who is for the time being
in
(2) A notice may be served upon any Director either personally or by post in an envelope addressed to such Director.
(3) Any accidental omission to give any such notice to any of the Directors shall not invalidate any resolution passed at any such meeting.
(4) Notwithstanding anything contained in sub-regulation (1), a meeting of the Executive Committee at which any matter which is considered urgent by the Chairman has to be taken up, may be called at a shorter notice.
*----------------------------------------------------------------------------------------------
1. Substituted vide notification No. FCR2 of 19655 dt. 23.8.65
13. Quorum for meeting of the Executive Committee
(1) No business shall be transacted at a meeting of the Executive Committee unless there are present at least three Directors.
*1&2 (2) If within half an hour from the time appointed for holding the meeting the quorum is not present, the meeting shall stand adjourned to the same day in the next week at the same time and place and notice of such adjourned meeting shall be given o each Director who is not present at the meeting on the same day by post or telegram o special messenger as the needs of the case may require.
(3) If at any adjourned meeting also the quorum is not present
within half an hour from the time appointed for holding the
meeting, the Directors present shall form the quorum.
14. Presidency over meeting of Executive Committee – (1) the Chairman shall preside over every meeting of the Executive Committee.
(2) If the Chairman is not present at any meeting, any other Director duly authorized by the Chairman shall preside over the meeting of the Executive Committee.
15. Adjournment of meting of Executive Committee
(1) The Chairman may, with the consent of the Directors present at the meeting, adjourn the meeting from time to time.
(2) No Business other than that which is included in the agenda shall be transacted at any such adjourned meeting except with the consent of the Chairman.
(3) Notwithstanding anything contained in regulation 12, it shall not be necessary to give any notice of a meeting adjourned under this regulation.
16. Voting
All matters submitted to a meeting of the Executive Committee shall be decided by a majority of the members present and voting thereat and in case of an equality of votes, the Chairman or the person presiding shall, have a casting vote, in addition to the vote to which he may be entitled as a member.
17. Record of decisions
All decisions arrived at by the Executive Committee shall, as far as possible, be recorded in the form of resolutions and an entry of such decisions in the book of proceedings of the Executive Committee shall be conclusive evidence of the fact that such decisions were taken by the Committee.
*------------------------------------------------------------------------------------------------------
1. Substituted vide notification No. FCR 1 of 1965 dt. 6.8.65
2. Substituted vide notification No. FCR 4 of 1967 dt. 12.7.67
*1 18. Times and places of meetings of the Committee – (1) The Committee shall meet at such times, and places as the Chairman may, from time to time, determine.
19.Notices for meeting of the Committee
(1)
Not less than seven clear days notice of every meeting of the Committee
shall be given to each member who is for the time being in
(2) A notice may be served upon any member either personally or by post in an envelope addressed to such member.
(3) Any accidental omission to give any such notice to any of the members shall not invalidate any resolution passed at any such meeting.
(4) Notwithstanding anything contained in sub-regulation (1), a meeting of the Committee at which any matter which is considered urgent by the Chairman has to be taken up, may be called at a shorter notice.
20.Quorum for meeting of the Committee
(5) No business shall be transacted at a meeting of the Committee unless there are present, as near as may be, one half of the total number of the members of the Committee:
Provided that at least one Director nominated by the Board of Directors on the Committee, is present in the meeting.
(6) If within half an hour from the time appointed for holding the meeting the quorum is not present, the meeting shall stand adjourned to the same day in the next week at the same time and place and notice of such adjourned meeting shall be given to each member , who is not present at the meeting on the same day by post or telegram or special messenger as the needs of the case may require.
(7) If at any adjourned meeting also the quorum is not present within half an hour from the time appointed for holding the meeting the members present shall form the quorum.
21.Presidency over meetings of the Committee
(8) The Chairman shall preside over every meeting of the Committee.
(9) If the Chairman is not present at any such meeting, the Members present shall choose one from among themselves to be the Chairman of the meeting.
22. Adjournment of meeting of the Committee-
(1) The Chairman may, with the consent of the members present at the meeting, adjourn the meeting from time to time.
(2) No business othe than that which is included in the agenda shall be transacted at any such adjourned meeting except with the consent of the Chairman.
(3) Notwithstanding any thing contained in Regulation 19, it shall not be necessary to give any notice of a meeting adjourned under this Regulation.
*------------------------------------------------------------------------------------
1. Added vide notification No. 8-1/73-BC dt. 24/27.6.74
23. Voting
(1)All matters submitted to a meeting of the Committee shall be decided by a majority of the members presents and voting thereat, and in case of an equality of votes, the Chairman/ or the pe5rson presiding shall have a casting vote, in addition to the vote to which he may be entitled as a member.
24. Report of the Committee
(1) The Board of Directors may fix the period for the presentation of the report by the Committee to it depending upon the complexity of the subject entrusted to such a Committee for examination.
25. Fess of members
(1)Every member, not being a whole-time officer of the Corporation, o an officer of Government, performing journeys for attending the meeting of he committee or for attending to any other work of the Corporation shall be entitled to be paid by the Corporation such fees, traveling allowance, daily allowance and conveyance allowances as are admissible under the Food Corporations Rules, 1965 to the member of the Board of Management established under section 16.
(2) Every member, being a whole-time officer of the Corporation or an officer of Government, shall be entitled to such traveling and daily allowances for the performance of journeys for attending the meetings of the committee or for attending to any other work of the Corporation, as are admissible under the rules applicable to him for journeys performed on official duty.
(3) Where any traveling and daily allowances are paid to a member, being an
officer of Government, the Corporation shall make necessary arrangements for reimbursement of the amount so paid to the authority employing such officer.
*1 26. Managing Director to exercise powers of Chairman during vacancy in
office of Chairman-
During any period when the office of Chairman is vacant, the powers and duties
of the Chairman under these regulations be exercised by the Managing Director.
*2 27. Chairman to exercise the powers of the Managing Director during vacancy
in the office of the Managing Director
During any period when the office of the Managing Director is vacant, the powers and duties of the Managing Director under these regulations and any other regulations framed under the Act be exercised by the Chairman, if so authorized to him by the Central Government and while so exercising the powers of the Managing Director, the Chairman shall be deemed to be the Managing Director.
F.NO. 4-1/64-F.C.I.
*--------------------------------------------------------------------------------------------------
1. Added vide notification No. FCR 3 of 1966 dt. 18.2.66
2. Added vide notification No. 4(4)/89-BC dt. 6.10.89
|
As at 31st March (Figures for the previous year) |
LIABILITIES |
As at 31st March (Figures for the current Years) |
As at 31st March (Figures for the previous year) |
ASSETS |
As at 31st March (Figures for the current year) |
|
CAPITAL : Capital under section 5 of the Food Corporation Act , 1964 to be contributed by the Government of India. Subscribed Capital by the Government of RESERVES: Reserved Fund under section 33(1) of the Food Corporation Act, 1964. As per Last Balance Sheet Transfer from Profit and Loss Account For the year. Reserve under section 33(2) of the Food Corporations Act, 1964 Investment Allowance Reserve: As per Last Balance Sheet SECURED LOANS: Loans and advances from Scheduled Banks and from State Bank of Against hypothecation of stocks of Foodgrains, fertilizers, sugar, stores And spares (Guaranted by the Government of India to the extent of 25%) UNSECURED LOANS: Loans from the Government of |
FIXED ASSETS : At written down value (Schedule) INVESTORS: Government Securities (Quoted) One fully paid-up Equity Share
of Modern Food Industries ( LOANS AND ADVANCES: Recoverable in cash or in kind of For value to be received (refer note) Secured. Unsecured, considered good (unless otherwise stated) For purchase of foodgrains, sugar And other commodities. Less: Provision for doubtful advances. OTHER LOANS AND ADVANCES: Other advances including advances To staff Claims receivables Less: Provision for doubtful claims |
||||
|
As at 31st March (Figures for the previous year) |
LIABILITIES |
As at 31st March (Figures for the current Years) |
As at 31st March (Figures for the previous year) |
ASSETS |
As at 31st March (Figures for the current year) |
|
Total brought forward CURRENT: LIABILITIES AND PROVISIONS: Current liabilities- Sundry creditors for goods and Services Sundry creditors for other finance Sugar price equalization fund (Schedule) Deposits repayable Interest payable PROVISIONS: Provisions for Taxation |
Total brought forward DEPOSITS AND OTHER ECEIVABLES: Deposits and other receivables (including Rs. Lakhs for capital jobs, previous year Rs. Lakhs). Less: Provision for doubtful Deposits Advance payment of Income Tax Interest receivable CURRENT ASSETS: Stocks of foodgrains, fertilizers And others (Refer Accounting Policy) Foodgrains Fertilizers Sugar By-products and other commodities Balahar (including ingredients) Gunnies Stores & Spares Stocks of Building Material Unregularised Transit and Storage Shortages reimbursable by the Government of Larisation (Net of Gains) (Refer Note No. ) As per last Balance Sheet Less: Regularised during the year Add: Unregularisd losses for the Current year. |
||||
FORM-‘B’
(See rule 19)
STATEMENT OF FIXED ASSETS ATTACHED TO AND FORMING PART OF BALANCE SHEET AS AT 31ST MARCH,
(Figures in Lakhs of Rupees)
|
Sl. No. |
Items |
Gross Cost |
Depreciation |
Written Down Value |
|||||||
|
|
|
As on 1.4 |
Additions during the year |
Work in progress/ sales during the year |
As at 31.3 |
As on 1.4 |
Adjustment/ sales written Back |
For the year 19 |
As at 31.3 |
As at 31.3 |
As at 31.3 |
|
|
I. Land: I. Land: (a) Free Hold (b) Lease Hold II. Buildings III. Machinery and Plants IV. Furniture and Fixures V. Capital wok in progress (a) Hold |
|
|||||||||
|
|
TOTAL: |
|
|||||||||
|
As at 31st March (Figures for he previous year) |
LIABILITIES |
As at 31st March (Figures for the current Year) |
As at 31st March (Figures for the previous year) |
ASSETS |
As at 31st March (Figures for the current year) |
|
|
Total brought forward |
|
|
Total brought forward BOOK DEBTS (UNSECURED) Outstanding for more than six months Other debts Less: Provision for doubtful debts CASH AND BANK BALANCES Cash and stamps in hand Cheques and demand drafts In hand In transit Fixed deposits with State Bank of Deposits with Industrial Development Bank of Current Account with scheduled Banks and other approved Banks. |
|
|
|
TOTAL: Accounting Policies, Schedules and Notes attached form part of Accounts |
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TOTAL: |
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FORM-‘C’
(See rule 19)
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH
(Figures in lakhs of Rupees)
|
For
the year ended 31-3 |
PARTICULARS |
For
the year ended 31-3 |
For
the year ended 31-3 |
PARTICULARS |
For
the year ended 31-3 |
|
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OPENING
STOCKS Food
grains Fertilisers Sugar By-products
and other commodities Balahar (including
ingredients) Gunnies Stores
and Spares PURCHASES
(INDIGENOUS) Foodgrains Sugar Gunnies Stores
and Spares PURCHASES
(IMPORTED) Foodgrains (including Rs. Sugasr Fertilisers PORT
CLEARANCE AND STEVEDORING CHARGES: Import
of Fertilisers Import
of gift consignments/foodgrains on replacement
basis Export
of Foodgrains |
|
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SALES Food
grains Fertilisers (Less Rebate Rs. Lakhs previous
year Rs. Lakhs) Sugar By-products
and other commodities Balahar (including
ingredients) Gunnies Stores
and Spares CLOSING
STOCKS Foodgrains Fertilisers Sigar By-products
and other commodities Balahar (including
ingredients) Gunnies Stores
and Spares CLAIMS Railways Shipping Consumer
subsidy of foodgrains reimbursable by the
Government of India, Department of Food. Add:
Carrying charges of buffer stocks of foodgrains Add:
Adjustment relating to previous year (Net) UNREGULARISED
TRANSIT & STORAGE SHORTAGES REIMBURSABLE BY THE GOVERNMENT OF |
|
|
For
the year ended 31-3 |
PARTICULARS |
For
the year ended 31-3 |
For
the year ended 31-3 |
PARTICULARS |
For
the year ended 31-3 |
|
|
Total
Brought Forward On
other items Wheat
Indigenous coastal movement MILLING
CHARGES PAID TO OTHER AGENCIES(NET) FREIGHT Railway
freight Lorry
freight Steamer
freight Transport
subsidy to Hill States Andaman,
Demurrage/Diversion
charges etc. Handling
Expenses (including Rs. Lakhs wages to
Departmental Labour previous year Rs. Lakhs) Special
Voluntary Retirement Scheme SALARIES,
WAGES AND ALLOWANCES Officers Staff Less:
Capital MEDICAL
REIMBURSEMENT: Officers
Staff MEDICINES
AND MEDICAL EQUIPMENTS Contributions to Provident Fund and others (included Rs. Lakhs for leave salary an |