1995 - 1996


Ladies and Gentlemen,

It gives me great pleasure to welcome you all the 20th Annual General Meeting of your Corporation. The Annual Report of the Company along with the audited Accounts for the year 1995-96, the Directors’ Report, the Statutory Auditors’ Report and the comments of the Comptroller and Auditor General of India are before you for consideration and adoption. With your permission, may I take them as read.

Propelled by market reforms, we have entered another year of commitments and challenges.

Before delving further, let me share with you some of the important aspects of performance of the year 1995-96 and thoughts on the future growth.




The Kopili Hydro Electric Project could generate only 707.26 MU against the target of 850.00 MU in view of shut down for maintenance, less water availability and reduced grid demand.

Despite many odds, your Company had its remarkable moments with the successful commissioning of Gas Turbine Units No. 3,4, and 5. (33.50 MW each) of Assam Gas Based Power Project and all of these have been synchronized with grid. The actual generation from this Project has been 336.02 MU against a target of 640 MU, the cause of which are attributed to less grid demand and stabilization of the machines.

Today, while NEEPCO is contributing 23.25 % in the total installed capacity of the region it is meeting 38 % of the Peak Demand/Energy needs of the region.

Though the machine availability during 1995-96 was 82.78 % in comparison to

93.51 % of 1994-95, but it had never gone below 80 % in last 5 years.


During the year, your Corporation has registered a net profit of Rs.23.74 Crores. The net turnover was Rs.92.51 Crores during the year as against Rs.43.43 Crores in the previous year.


Despite adoption of various commercial strategies to improve the realization position and thus to provide commercial focus to its business operations, the picture of outstanding dues is not very steady and continued to be a major concern for the Company and an intensive follow-up was maintained at the highest level with the State Governments and the SEBs to ensure maximum possible realization from the major consumers.

The total amount received against sale of power to ASEB stood at Rs.56.32 Crores out of which 32.69 Crores was received as deduction by the Govt. of India from Central Assistance to Govt. of Assam. The outstanding dues by the end of the financial year for sale of power to ASEB was Rs.63.99 Crores excluding the interest on overdoes as against corresponding figure of Rs.66.65 Crores as on 31.3.95.

These figure show an encouraging trend in view of the fact that sale of energy by your Corporation to ASEB during the year was practically double than that in the year 1994-95.

Power Purchase Agreement (PPA) for sale of power from Kopili Hydro Electric Project and Kathalguri GT Project has been concluded with the State of Nagaland & Manipur. PPA for sale of power from Kopili H.E. Project has also been signed with Assam & Mizoram. Other States are being constantly pursued for conclusion of the Agreement.


The Authorized Share Capital of your Corporation has been enhanced to Rs.1500.00 Crores.

The total paid-up Capital and Loan is Rs.1317,29.57 lakhs and Rs.897,50.61 lakhs as on 31.3.96 respectively including Bond of Rs.224.80 Crores, Loan from Govt. of India including capitalization of interest stood at Rs.459.80 Crores as on 31.3.96. An amount of Rs.22.00 Crores was raised as loan from LIC during the year.

I am happy to report that your Corporation is regular in debt servicing for LIC Loan and Bond. This is also applicable to the servicing of Govt. Loan to a large extent.



As you know the belief and mission of your Corporation in the Performance Oriented Output with this in mind constant efforts are being made to evolve a policy of total computerization for Integrated Project Management, Reporting vis-vis Control System and thus to attain a perfect symbiosis in the network of Project Management.


In order to ensure the best use of the technology, continued assistance and guidance from various national and international bodies are taken in different trades of engineering. Panel of Experts drawn from various institutions/sources are also supplementing the efforts of NEEPCO in its engineering activities with their enriched experience.


The following major contracts were finalized during the year against various Projects :

  • Ranganadi Hydro Electric Project :
    • Concrete Diversion Dam.
    • Steel Liner.
  • Doyang Hydro Electric Project :
    • Rock Fill Dam.
  • Agartala Gas Turbine Project :
    • Piling & Pile Caps Foundation.
    • Fabrication & erection of Steel Structures.
    • Power House Building.
    • Switchyard.
  • Assam Gas Based Power Project :
    • Make-up Water Systems.
    • Cooling Tower & Water Treatment Plant.



There has been remarkable progress in the activities of various projects inspite of the bottlenecks particularly prevalent in the North Eastern Region.

Doyang Hydro Electric Project

The works of Diversion Tunnel, Approach Channel and Spillway, Water Conductor System, Rock-fill Dam etc. are progressing satisfactorily along with the electrical works.

Ranganadi Hydro Electric Project

A cumulative 7.44 KM of boring could be achieved during the year against a tunnel length of 10.27 KM passing through uncertain geological strata. With the completion of up-stream Coffer Dam, river water has been diverted through the Diversion Tunnel. Works in all other civil fronts and electrical fronts are progressing satisfactorily commensurating with the cash flow.

Kathalguri Gas Based Power Project

GT Units III, IV & V have been successfully commissioned during the year. Also Ratcheting of GT Unit VI was done within the year. The work of fabrication and erection of main building are in advanced stages of completion. Works of Make-up water System and Cooling tower, water treatment plant suffered setbacks in view of incessant rain in the area. There have been certain delays on the part of BHEL to adhere to supply of civil inputs also. Almost all the equipments from major suppliers for other works have reached site.

Agartala Gas Turbine Project

All the major civil works packages have been finalized.The project suffered a setback when the works of Switchyard was delayed in view of the reason that one of the unsuccessful bidders went to Court which has since been settled in favour of NEEPCO and the contract awarded.

Kopili H.E. Project – First Stage Extension.

Roof concreting of the powerhouse has been completed. Works of all civil and electrical packages are in advanced stages of completion.

Inspite of the delays, utmost care and efforts are being taken to adhere to the commissioning targets barring unforeseen circumstances beyond the control of your Company.



When the country moves on from command economy to open economy through economic restructuring and liberalization, the aspect of capacity addition is a concern of your Company. Also there have been indication of reduction of budgetary support necessitating borrowings from the market and in this perspective a comprehensive plan is being worked out.

The following Projects are entrusted by the respective State Govt. to your Company for execution.

  • Tuirial Hydro Electric Project(60 MW), Mizoram.
  • Tuivai Hydro Electric Project(210 MW), Mizoram.
  • Lower Kopili Hydro Electric Project(150 MW), Assam.

Considering the volume of works and the credit needs, more support will be needed from domestic and international financial institutions for speedy completion of the ongoing and new schemes. We are exploring all the possibilities to tie up the required fund and we are confident to achieve the desired result.


Your Corporation has been able to secure ‘Good’ rating in the M.O.U. evaluation with the Ministry of Power inspite of the typical constraints which affected the progress of works.


Your Company is concerned of the welfare and social measures for the employees and consider the same as one of the prime motivating factor for the success of the Company and untiring efforts are being made to augment the areas of welfare and social needs. The industrial relations of the Company has remained extraordinary good during the period. Participative and consultative mechanisms and processes continued to provide strong foundation to the productivity of the Company.


I, on behalf of you, the Board of Directors, the management and the staff of your Corporation acknowledge with deep appreciation the co-operation, guidance and keen interest on the Corporation to the Hon’ble Union Minister of Power, Ministry of Finance, Ministry of Power, Ministry of Home Affairs, Department of Economic Affairs, Planning Commission, Department of Public Enterprises, Ministry of Environment and Forests, North Eastern Council, CEA, CWC as well as concerned officials of various States/Central bodies.

I express my gratitude to all the investors, domestic as well as international for the confidence reposed by them in NEEPCO.

I also wish to place on record the appreciation for the untiring efforts and contribution by the employees at all levels and their continued enthusiasm which has been the main contribution towards the success story of the Corporation.

Dated, Shillong, (P.K.KOTOKY)

The 26th Sept’96 Chairman & Managing Director


To the Members,

Your Directors have pleasure in presenting the 20th Annual Report of the North Eastern Electric Power Corporation Limited, together with the statements of Accounts and Auditors’ Report for the year ended 31st March, 1996.



  1995-96 1994-95
Units Generated (MU) 1043.28 861.49
1.Sales & Other Income(Net) 9251.25 4343.43
2.Gross Profit for the year 6644.69 3533.17
3.Depreciation 719.06 712.85
4.Interest :    
On Govt. Loan 2598.33 875.56
On L.I.C. Loan 421.15 489.52
On Bonds 531.77 --
5.Preliminary / deferred revenue expenditure written off 0.50 1.64
6.Net Profit for the year 2373.88 1453.60
7.Prior period adjustment(Net) 213.70 1564.51
8.Balance of Profit from last year 11.18 3.74
9.Transfer to General Reserve 2590.00 3010.00
10.Transfer to Capital Reserve on account ofSale of Capital assets 0.32 0.67
11.Balance of Profit carried over to Balance sheet 8.44 11.18

The Board of Directors in their 90th Meeting held on 30.7.96 approved the transfer of Rs.2590.00 lakhs to General Reserve and 0.32 lakhs to Capital Reserve during the year 1995-96.

Your Directors do not propose to declare dividend for the year 1995-96.


The Authorised Share Capital of your Corporation is Rs.1500.00 Crores.

The total paid up Capital and Loan is Rs.1317,29.57 lakhs and Rs.897,50.61 lakhs as on 31.3.96 respectively including Bond of Rs.224.80 Crores. Loan from Govt. of India including capitalization of interest stood Rs.459.80 Crores as on 31.3.96. An amount of Rs.22.00 Crores was raised as loan from Life Insurance Corporation of India during the year. The debt servicing is regular for LIC Loan and Bond interest.


During the year 1995-96, Kopili & Khandong Power House of Kopili Hydro Electric Project have generated 707.26 MU against the target of 850.00 MU. This was, however, less than the actual generation in 1994-95, which was 861.49 MU. The fall in generation during 1995-96 in comparison to 1994-95 was mainly due to less water availability, shut-down, maintenance and less peak period demand.

The actual generation from the Assam Gas Based Combined Cycle Power Project is 336.02 MU against a target of 640.00 MU when GT. Unit I, II, III, IV & V was synchronized with the grid on 16.3.95, 22.3.95, 30.6.95, 30.7.95 & 2.3.96 respectively. The GT Unit-VI was commissioned in July’96.

The net earnings in terms of sale of Power from Kopili H.E. Project is Rs.35.33 Crores and that of Assam Gas Based Power Project is Rs.57.13 Crores during 1995-96.



Both the Power Stations under this Project i.e. Khandong Power Station (2 X 25 MW) and Kopili Power Station (2 X 50 MW) have been under operation when the later was shut down for some days due to connection of the Penstock Pipe for Unit-III & Unit-IV of Extension Project and have generated 707.26 MU against the target of 850.00 MU during 1995-96.

Default in payment of outstanding dues by ASEB continues to remain a serious concern for the Company during 1995-96. During the year, Rs.56.32 Crores was received against the sale of power to ASEB. Out of this, Rs.32.69 Crores was received during the year as deduction by the Govt. of India from Central Assistance to the Govt. of Assam. The outstanding dues as on 31.3.96 for sale of Power to ASEB stands at Rs.63.99 Crores excluding interest on overdues as against the overdues of Rs.66.65 Crores as on 31.3.95.

On receipt of instruction from Govt. of India to the effect that "Current dues would be met in full from the month of March’94 onwards for which purpose SEBs shall open irrevocable L.C. in favour of their supplier to the tune of 105 % of their parts average monthly billing", a request was made to all the beneficiary States for opening of irrevocable L.C. The matter is being pursued with the respective States in order to conclude the same as early as possible. Till date no L.C. was opened by any of the SEBs.

Power Purchase Agreement (PPA) for sale of power from Kopili H.E. Project and Kathalguri G.T. Project has been concluded with the states of Nagaland and Manipur. PPA for sale of Power from Kopili H.E. Project has been signed with Assam, Mizoram and Meghalaya. PPA for Arunachal Pradesh and Tripura Govts. are being followed up vigorously for signing of the PPA.



All the major Civil works including Rock Fill Dam are going on in full swing. The contract for Rock Fill Dam was awarded to M/s.BEL, Cochin in July’ 95. Manufacture of T.G. Units by M/s. BHEL is in progress and the components are being received in phases, 95 % of Turbine Equipments have been despatched. Erection of T.G. Units are in Progress and other Electrical works are proceeding satisfactorily. Against the Plan allocation of Rs.60.00 Crores during the year 1995-96, NEC has released Rs.27.71 Crores as net Budgetary support and an amount of Rs.15.00 Crores and Rs.2.50 Crores were raised through LIC and Bond respectively.

For the year 1996-97, the approved Plan allocation stands at Rs.120.00 Crores.

In view of the delay in the execution of the project, the commissioning of the units may not be possible as scheduled. The revised commissioning schedule is detailed below :

Unit-I – 1/98, Unit-II – 2/98, Unit-III – 3/98.


The infrastructural works had since completed. The main Tunnel of 10.263 KM length passing through uncertain geological strata is one of the major critical activities of the Project. Geological problems have been overcome with restricted blasting, rock bolting and shotcreting. One more Adit with 2(Two) working faces is opened to augment the progress of boring of HRT. The cumulative progress of boring as on March’96 is 7.44 KM (approximately).

Detailed work order for concrete Diversion Dam has been issued to M/s. Gammon India Ltd. in Sept.’95. The mobilization by the contractor has been completed. Construction of up-stream Coffer Dam is completed and river water was diverted through the Diversion Tunnel. The excavation for Dam has also started. Detailed work order for Fabrication and Erection of Steel Liner was issued to M/s. Texmaco Ltd. in March’ 96 and Mobilisation Advance released. All BQ Plates have since been procured.

Excavation in the Power House Pit has been completed. Detailed work order for Power House Building was issued and the work is in progress. Manufacture of T.G. Sets by M/s. BHEL is in progress. Embedded parts of T.G. Equipments, D.T. Liner and Pit Liner of all Units are dispatched. LOI for erection, testing and commissioning of T.G. Sets is issued. Alignment and matching of all segments of D.T. Liner of Unit-I has been completed.

Against Plan allocation of Rs.150.00 Crores for the year 1995-96, an amount of Rs.61.00 Crores was released by NEC as net Budgetary support and Rs.7.00 Crores and Rs.50.00 Crores were raised through LIC and Bond respectively.

The Plan allocation for 1996-97 of RHEP is Rs.200.00 Crores.


3(three) Gas Turbines (Unit-III, IV & V) were synchronized with the grid on 30.6.95, 30.7.95 and 2.3.96 respectively. Gas Turbine Unit – VI was commissioned in July’96. The cumulative generation, since inception upto March’96 is 336.17 MU.

All the Steam Turbine Generating sets are supplied and Erection work is in progress. The foundation works ;of all S.T. Generation sets are completed.

The work of Cooling Water and Raw Water Intake well with Pipeline and the works of Cooling Tower and Water Treatment Plant were awarded to M/s. Delta Machines (India) Ltd. and M/s. Adisons Construction Ltd. respectively and the works are in progress. Against a Plan outlay of Rs.305.95 Crores for the year 1995-96 Rs.293.12 Crores has been received as External Assistance routed through Budget. The Bond money of Rs.12.83 Crores could not be mobilized due to unfavorable market condition.

For the year 1996-97, the allocation of Rs.79.29 Crores was made for this project as net Budgetary support. Detailed RCE amounting to Rs.1209.26 Crores (Nov’94 Price Level) was submitted. The Estimate was further revised to Rs.1347.57 Crores. (April’96 Price Level) and re-submitted for approval, which is awaited.


The Major Civil Works of the Kopili H.E. Project, Stage-1 Extension are, construction of Power House Building, Fabrication and Erection of Penstock and the work of Anchors and Saddles, which have already been awarded and the works are in an advance stage of completion.

All Liners of Draft Tube are lowered and roof concreting of Unit-III & IV completed. In Electrical/Mechanical works, Erection of T.G. Units are in progress. 90 % delivery and 65 % erection completed. In regard to Switchyard, LOI for most of the Equipments are placed. For Switchyard Erection package, LOI was issued and the works are in progress.

Against approved Plan allocation of Rs.40.35 Crores for the year 1995-96, Rs.25.00 Crores has been received during the year as net Budgetary support.

The Plan allocation for 1996-97 of KHEP – 1st Stage Ext. stands at Rs.24.00 Crores being Net Budgetary Support.


All land required for the project (141.86 Acre) has since been acquired from the Govt. of Tripura. For supply of Natural Gas to the Project site, Contract has been signed in Oct.'9’ with M/s.GAIL. All the 4(four) Nos. GTG Units supplied by M/s.E.G.T. Germany have been transported upto Karimganj, Assam. Further transportation to Project site is being take-up.

There are 3(three) Major Civil Packages in addition to supply and Erection of Electrical/Mechanical Equipments and Building/Road works.

    • a) In Package-I, consisting of Piling works, work order has since been issued and Pile Driving work has been completed. Concreting of Column Foundations and other works are in progress.
    • b) In Package-II, consisting of Cutting,. Fabrication and Erection of Steel Structure for Main Plant Building, work order was issued. Till March’96 12 % cutting and 7 % fabrication has been completed.
    • c) For the Package-III, works of Power House Building and Auxiliaries, the detailed work order was issued and the work has started.

For Generator Transformer, work order was placed and manufacture is in progress. Supply order was placed for station auxiliary Transformer. The orders for (1) Relay and control panel (2) 6.6 kV HT and 415 V Switchgear (3) Power and control cable (4) EOT Crane (5) Transformer and Filtration Plant were issued. Price bid for Cable Tray and Accessories was opened and is under finalization. For Switchyard (Supply and Erection), tender evaluation completed and LOI was issued in July’96.

Against the approved Plan allocation Rs.150.00 Crores for the year 1995-96, an amount of Rs.48.70 Crores as net Budgetary support and Rs.92.77 Crores as D.F.A. have been received.The approved Plan allocation for the year 1996-97 is Rs.77.11 Crores, out of which Rs.32.11 Crores as Budgetary support and Rs.45.00 Crores as D.F.A.


With a view to have new projects for execution in future, it is proposed to continue/take-up the following Survey and Investigation Project. In 1996-97, a provision of Rs.200.00 Lacs has been kept to continue with the work of following investigation.

Ranganadi H.E.Project : 100 MW (Stage-II).Arunachal Pradesh

Papumpam H.E.Project : 100 MWArunachal Pradesh

Dikrong H.E.Project, : 100 MWArunachal Pradesh

Kopili H.E.Project : 25 MW (Stage-II), Assam.

Pakke H.E. Project, : 75 MWArunachal Pradesh

Upper Lohit H.E.Project, : 500 MW Arunachal Pradesh

Tuivai H.E. Project, : 210 MW Mizoram

Kameng H.E. Project, : 600 MW Arunachal Pradesh

Tuirial H.E. Project, :60 MW Mizoram.

The detailed Project Report have been prepared/submitted to CEA/CWC for techno-economic clearance in respect of RHEP Stage-II. Also efforts are being taken to finalise the detailed project report of Kopili H.E. Project (Stage-II)


Total employees as on 31st March,1996 stood at 2997, as against 2961 as on 31st March, 1995.

Special recruitment drive has been launched to fill up vacant posts of SC/ST and O.B.C. as per guidelines issued by the Govt. of India.


Since Human Resources Development forms a vital input in getting a competitive edge, efforts have been made to provide special emphasis on training and development during the year 1995-96.

Total number ;of 154 employees have been trained in various fields which included 106 executives, 37 supervisors and 11 workmen; out of 106 executives trained during the year 14 executives attended different training programmes abroad under various schemes i.e. Training Programs at the workshop of M/s. EGT, Essen, Germany and under EPDCI, Japan as per contract etc.


Industrial Relations in the Corporation have remained peaceful throughout the year. No mandays were lost on account of Industrial Relations. Various issues were discussed with Unions and Associations from time to time and resolved amicably.

The pay scales and other allowances for the workmen, supervisors and executives who are governed by IDA pattern of pay scales has been revised w.e.f. 1.1.92 broadly in terms of Govt. of India, DPE’s Office Memorandum No. 1(3)/86-DPE (WC), dated 12.4.93 and No.2(50)/86-DPE(WC), dated 19.7.95.

A system of attendance of employees at Corporate Office through Time Punching Clocks has been introduced w.e.f. 2.4.96.


Following welfare activities have been undertaken by the Corporation during the year 1995-96 :

Kendriya Vidyalaya, DHEP has started Class-VI during this year, Kendriya Vidyalaya, RHEP and DHEP have Classes upto Class-X and therefore, Kendriya Vidyalaya Sangathan authorities are being persuaded to open plus 2 i.e. Classes-XI and XII in these Schools during coming session.

K.G. School has started functioning at AGBPP, Tinsukia from this academic session. Efforts are on to tie up with Delhi Public School at I.O.C., Digboi for schooling facilities for the children of the employees posted at AGBPP.

  • I) Four Women workers participated in the 6th National meet of Women in Public Sectors (WIPS) at New Delhi during the year 1995-96.
  • ii) Family members at Project site have been encouraged to learn and improve their knitting, embroidery and weaving skill and facilities have been provided in the Project for imparting for such training.
  • d) Canteen facility has been provided at Corporate office, Shillong during April, 1996.


  • i) NEEPCO Cricket Team participated in a Tournament organised by Power Sport Control Board held during Feb. 1996 at Korba, Madhya Pradesh.
  • ii) NEEPCO Badminton team participated in the first inter Power Sector PSU Badminton Tournament during Feb. 1996 at New Delhi organized by Power Sport Control Board.


The Corporation has been implementing the Official Language Policy of the Govt. of India at its Corporate Office as well as in the other Project Office. One Hindi Cell is also functioning at each Project Site for the implementation of the Official Language Policy of Govt. of India. Hindi Cell is being headed by Sr. Manager (P) IR & Admin. At Corporate Office, Shillong. Efforts were made to achieve the target as laid down in the Annual Programme.

Efforts were made to issue the document referred, to in Section 3 (3) of the Official Language Act, bilingual. Annual Report and Project Report were prepared in bilingual i.e. in Hindi and English. Incentive Scheme as per the Govt. of India’s directives have been implemented. Officers and employees were sent for Hindi training under the Hindi Teaching Scheme, Shillong and employees of the Project sites were encourage to learn Hindi through correspondence course.

‘Hindi Day’ was organized during the year at Corporate Office as well as at Project sites with a view to create awareness regarding use of Official Language Policy of the Govt. of India and increase the use of Hindi in official works. To encourage the employees towards learning of Hindi, competitions were also arranged and participants securing 1st., 2nd., 3rd. and 4th. position were awarded with prizes

Hindi Cell is running a Hindi Library at Corporate Office to help the officers as well as employees to increase their knowledge of Hindi.


M/s. A.S. Biswas & Co., Chartered

Accountants, Shillong was appointed as Statutory Auditors for the year 1995-96. The Reports of the Statutory Auditors and comments of the Comptroller and Auditor General of India thereon are enclosed at Annexure-I & II and Management’s reply to C.A.G.’s observations at Annexure-III.

The review of the Comptroller & Auditor General of India on the Accounts of North Eastern Electric Power Corporation Ltd. under Section 619 (4) of the Companies Act are furnished at Annexure-IV.


Information as required under Section 217 (2A) of the Companies Act,1956, read with Companies (Particulars of employees) rules,1975 and Companies (Particulars of employees amended rules,1994 vide notification G.S.R.752(E)dtd. 17-10-1994 is enclosed at annexure-V.


As per directive of the Central Vigilance Commission, action plan on anti-corruption and vigilance measures have been taken.Complaints received are regularly monitored and where primafacie evidence were found, investigation have been carried out. Also, emphasis given on the aspect of preventive vigilance.


S/Shri C.V.Sarma,R..K.Sharma,P.K.Roy Choudhury, Darshan Singh and C.N.S.Nair have since ceased to be Directors of the Corporation. The Board of Directors placed on record the deep appreciation for the valuable service rendered by all the Directors.

Shri S.B.Dey was appointed as Director(Technical) from

03-04-1996 S/Shri Vijoy Kumar,S.K.Srivastava, Liansanga, Pulak Deb, B.K.Bal,were appointed as Part-time Directors of this Corporation.


Particulars as required under Companies(Disclosures of Particulars in the Report of Board of Directors)Rules, 1988 and forming part of the Directors’ Report regarding Conservation of Energy/Technology absorption and foreign exchange earnings and outgo during the financial year 1995-96 is enclosed at Annexure-VI


The Directors acknowledge with thanks the guidance and help received from the Chairman of the North Eastern Council.The Directors are also grateful to the various Ministries of the Govt.of India, particularly the Ministry of Power, Ministry of Home Affairs, Ministry of Environment & forest ,Department of Public Enterprises, Department of Economic Affairs, North Eastern Council, Central Electricity Authority, Central Water Commission, Central Soil & Materials Research Station, Geological Survey of India, Survey of India and theNorth Eastern Regional Electricity Board for their continued co-operation and assistance.

The Directors expressed their sincere gratitude to the Govt. of Assam,Meghalaya,Manipur Mizoram Nagaland, Tripura, Arunachal Pradesh for the co-operation and help extended by them.

Thanks are also due to the Bankers, the Statutory Auditors, the Commercial Audit Wing of the Comptroller and Auditor General of India and the Registrar of Joint-Stock Companies.

Last but not the least, the Directors also wish to place on record their high appreciation for the dedicated efforts made by all sections of employees of the Corporation to achieve the goals set for the Corporation.

For and on behalf of the Board of Directors


Chairman & Managing Director

Dated, Shillong

The 26th Sept., 1996.