A STUDY ON FUNCTIONS OF PRODUCTION IN TANMAG
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A STUDY ON FUNCTIONS OF PRODUCTION IN TANMAG
In a democracy, the Government and the Public Authorities under it are accountable to the people. This is possible only if the citizen have an access to the information under the control of public authorities. In order to promote transparency and accountability in the working of Public Authorities, the Government has enacted the Right to Information Act, 2005.
Under the Act, every Public Authority is required to publish certain details to provide as much information to the Public at regular intervals. This Manual is brought out in respect of Tamilnadu Magnesite Limited to fulfill this requirement under the Act. This Manual aims at giving all such information to the people which would be of any interest and relevance to the General Public.
For smooth implementation of the various provisions of this Act, a Public Information Officer has been appointed in this company. He would deal with all the requirements of the Public regarding any information required from TANMAG. If there is information required by any citizen and it is not available in the Manual then he can approach Public Information Officer of the company to get that information. Public Information Officer would arrange for time bound sending of the information to the citizen concerned.
Magnesite Mineral Ore is an essential raw material for manufacturing Refractory Materials used by Steel Industry. This is a rare mineral available in Salem Region of Tamilnadu State and also found in other states like Uttaranchal, Karnataka and Jammu & Kashmir. Magnesite of Salem Region is relatively high in magnesium Oxide and low in Silica content. Salem Magnesite Reserves are famous worldwide for its Cryptocrystalline Structure, which is best suited for manufacturing Refractory Brick Realizing the necessity for preservation and exploitation of such rare mineral, the Govt. of Tamilnadu formed TAMILNADU MAGNESITE LIMITED popularly known as TANMAG in January 1979. From the raw Magnesite produced from our mines, company is producing Dead Burnt Magnesite, Lightly Calcined Magnesite, Ramming Mass, Fettling Material, etc. TANMAG mineral reserves would be available for about next 75 years.
PROFILE OF THE COMPANY
Magnesite Mineral is a precious ore and is available in limited places in India. It is an essential raw material for manufacturing Refractory materials used by Steel Industry. Realizing the necessity for preservation and exploitation of such rare mineral, the Govt. of Tamilnadu formed TAMILNADU MAGNESITE LIMITED (TANMAG) in January 1979. TANMAG has open cast and semi-mechanisd Mines to an extent of 177.69 Hect. And employ about 498 employees under workman category and 108 personnel under staff and Officers category.
The authorized Share Capital of TANMAG is Rs.50.00 Crores of which Rs.16.65 Crores are paid up and held by Govt.of TamilNadu.
TANMAG's objectives are
1. Scientific and eco-friendly mining for optimal exploitation of mineral resources.
2. To regenerate mined area by extensive afforestation programme.
3. To produce quality products and broad-base the product range to suit changing customer requirement.
4. To maintain strict quality control measure and to ensure customer satisfaction.
5. To promote socio-economic development of the region and Industrial growth
The Managing director shall have Financial powers to a reasonable extent. The following are the financial powers delegated to the Managing Director:
1) The expenditure incurred by the company will be classified into two categories.
i. Anticipated and provided for in the budget.
ii. Unforeseen expenditures.
Further the expenditure shall be classified into capital expenditure and revenue expenditure. In respect of the expenditure anticipated and provided for in the budget, the Managing Director shall have the powers to sanction and authorize disbursement within the allocations made for specific purposes both under revenue and capital items. Provided that all capital expenditure exceeding the value of Rs. 10 lakhs shall be approved by the Board.
2) The Managing Director shall have the powers to incur unforeseen ( which is not provided in the budget ) expenditure of capital nature including land, buildings, plant and machinery, electrical equipment, furniture, vehicles, etc, upto the extent of 10 % over the sanctioned cost. Provided the Board shall be informed and post approval is obtained where the value of such additional expenditure exceeds Rs. 10.00 lakhs.
The Managing Director shall have the powers to incur unforeseen expenditure of revenue nature’s up to 25 % of the revenue budget of that year. Provided the Board shall be informed and post approval is obtained where the value of such additional expenditure exceeds Rs. 25.00 lakhs.
3)The Managing Director shall have powers to refund the amount of Earnest money or Security deposit received by the company after fulfilling contract, to waive the Earnest money and Security deposit, guarantee, etc., in connection with the normal working of the company.
4) The Managing Director shall have the powers to waive liquidated damages in case of late deliveries. Provided such cases are reported to the Board from time to time depending upon the quantum of amount.
5) The Managing Director shall have powers to declare stores as unserviceable or obsolete, to fix their prices and prescribe their mode of disposal to write down value of surplus or obsolete stores in the books, to sanction write off of losses due to theft, fraud, negligence or other causes, subject to the Rules.
6) The Managing Director shall have the power to execute contracts, deeds, instruments and assurances of property and in particular –
a. All service agreements.
b. Security bonds for due performance of their duties by the company servants.
c. Leases of Houses, lands or other immovable property and
d. Assurances required by law or otherwise authorized by the Board. 7) The Managing Director shall have the power to make and give receipts releases and other discharges for the claims and demands on the company 8) The Managing Director shall have charge and custody of all property, books of account, documents and effects belonging to the company.
9) The Managing Director will cause to be kept such books of accounts as are usual or necessary and shall from time to time prepare or cause to be prepared such statements balance sheets and extracts as may be necessary to manifest the true affairs of the company.