Powers and duties | Kerala State Power and Infrastructure Finance Corporation Ltd.

Last updated Date :10-10-2022

Powers and duties of officers of KSPIFC and delegation of financial powers

Powers and duties of officers

Managing Director

Managing Director performs his duties and functions subject to the directions, supervision and control of the Board of Directors of the company. He is responsible for implementation of the decisions of the Board of Directors of the company. The Managing Director is responsible for the following activities / functions such as:

	Formulates the quality policy and objectives,
	Performance of functions as per the delegation of powers sanctioned by the Board of Directors,
	Maintenance of internal control and financial discipline in the company,
	Presentation of Annual Plan of Operation (APO) and Annual Budget in time before the Board of Directors,
	Presentation of Quarterly and Annual Accounts and Annual Report before the Audit Committee, Board of Directors and in the Annual General Meeting
	Regulation of expenditure and income from operations as per budget provisions,
	Formulation and implementation of business schemes,
	Diversification and Modifications,
	Convening the meetings of Board of Directors and placing all the relevant facts and figures pertaining to the business of the company before the Board and implement the decisions of the Board,
	Maintenance of discipline and improvement of efficiency of staff,
	Liaison with Government and other organizations
	Maintainenance of discipline as per the rules and delegation of powers,
	Other duties and functions entrusted by the Board of Directors or Government,
	Statutory compliances.

Company Secretary

	For Company’s other matters related information, contact Company Secretary. Phone No: 9447 331360, 0471-2735511

Secretarial and Legal

	Preparation and arrangements for filing of returns with Registrar of Companies on time.
	Preparation of Agenda Notes and Minutes of Board Meetings/Annual General Meetings or any other work relating to Board Meetings/Annual General Meeting.
	Correspondence and follow up with Government, Registrar of Companies or any other agencies relating to Company Affairs matters.
	Maintenance of Statutory/Non Statutory registers
	Issue of Shares / Share Certificates
	Legal matters relating to company affairs
	Creation of charges with Registrar of Companies
	Borrowing and Lending programmes of the Company
	Appraisal of proposals received by the Company from prospective borrowers for financial assistance
	Advice Managing Director on all legal, Secretarial and Company affairs and tax matters as required
	Issue/Redemption of Bonds
	NSDL/CDSL matters
	Filling of online forms for DIN/Directors
	Liaisoning with Government on all Company Matters
	Preparing Annual Reports, getting it printed on time and send to Power Department for placing before the Legislature on time.
	Any other related items entrusted by the Managing Director during the course of the work.

Manager (Technical/ Chief Financial Officer)

Administrative Manager shall report to General Manager and deal with general administration of the office, service matters of the employees of the company, purchases and store purchase, construction of office building and upkeep of the assets of the company. His important duties include:

General Administration

	Service matters of the employees of the company, purchase and store purchase, construction of office building and upkeep of the assets of the company.
	Security arrangements, general house keeping, public relation activities etc.
	Implementation of Service Rules applicable to the Company relating to service matters such as salary, leave, PF, gratuity etc.
	Process papers relating to recruitment of employees
	process papers relating to training
	Processing all leave applications for sanction of leave as per delegation of power
	Processing of applications for advance and sanction of advance as per rules and delegation of powers sanctioned by the Board of Directors.
	Preparing Salary Bills, TA Bills, Medical Reimbursement Bills and preparation of vouchers for payment of retirement benefits such as EPF, gratuity and related matters
	Process papers relating to disciplinary action and related matters in respect of employees as per delegation of power sanctioned by the Board of Directors
	Purchase of store materials
	Inspection relating to purchase and verification of store
	Review of inventory of materials and monthly stock positions
	Any other matter relating to purchase.
	Process papers for purchase, ensuring budget estimate approvals, preparation of vouchers for effecting payments of all purchase and expenditure related to administrative expenses.
	Maintenance of vehicles.
	Construction of Building – Preparation of vouchers for effecting payments of construction bills prepared by architect and authorized by the Technical Consultant.
	Ensure replies to contractors on all matters
	Maintenance of office building and building site.
	Keep in safe custody of all documents connected with land and buildings and assets under lock and key
	Upkeep of all computer system, printers and related accessories and safe custody of all related master floppies
	Responsible for timely renewal of insurance cover, Annual Maintenance Contract of the office assets on due dates.
	Ensure recovery of statutory dues from employees, suppliers, contractors and preparation of documents for timely remittance of the dues to the respective departments, TDS etc.
	LA interpellations
	Maintain imprest cash and imprest cash book
	Disciplinary control of staff work under the administrative control.
	Responsible for filing returns with government agencies relating to any administrative matters, annual returns to Provident Fund Office etc.
	Compiling of statutory deductions on administrative expenses for enabling filing of tax returns.
	Public relations and liaison with Government Departments and other agencies as required
	General arrangements for conducting Board Meeting, Audit Committee Meetings etc
	Any other duty assigned by the Managing Director / General Manager from time to time.

	Security arrangements, general house keeping, public relation activities etc.
	Implementation of Service Rules applicable to the Company relating to service matters such as salary, leave, PF, gratuity etc.
	Process papers relating to recruitment of employees
	Process papers relating to training
	Processing all leave applications for sanction of leave as per delegation of power
	Processing of applications for advance and sanction of advance as per rules and delegation of powers sanctioned by the Board of Directors
	Preparing Salary Bills, TA Bills, Medical Reimbursement Bills and preparation of vouchers for payment of retirement benefits such as EPF, gratuity and related matters
	Process papers relating to disciplinary action and related matters in respect of employees, as per delegation of power sanctioned by the Board of Directors
	Purchase of store materials
	Inspection relating to purchase and verification of store
	Review of inventory of materials and monthly stock positions
	Any other matter relating to purchases
	Process papers for purchases, ensuring budget estimate approvals, preparation of vouchers for effecting payments of all purchase and expenditure related to administrative expenses
	Maintenance of vehicles
	Construction of Building - Preparation of vouchers for effecting payments of construction bills prepared by architect and authorized by the Technical Consultant
	Ensure replies to contractors on all matters
	Maintenance of office building and premises
	Keep in safe custody all documents connected with land and buildings and assets under lock and key
	Upkeep of all computer system, printers and related accessories and safe custody of all related master floppies
	Responsible for timely renewal of insurance cover, Annual Maintenance Contract of the office assets on due dates
	Ensure recovery of statutory dues from employees, suppliers, contractors and preparation of documents for timely remittance of the dues to the respective departments, TDS etc
	Preparing replies to LA interpellations
	Maintain imprest cash and imprest cash book
	Disciplinary control of staff working under the administrative control
	Responsible for filing returns with government agencies relating to any administrative matters, annual returns to Provident Fund Office etc
	Compiling of statutory deductions on administrative expenses for enabling filing of tax returns
	Public relations and liaison with Government Departments and other agencies as required
	General arrangements for conducting Board Meetings, Audit Committee Meetings etc.
	Any other duty assigned by the Managing Director / General Manager from time to time
	Business related Information will be provided by Business Manager, Phone No: 94470 22450, 0471- 2735533

	The Business Manager will be the head of marketing division of the company and will function from the Corporate and Registered Office of the company at Trivandrum.
	He/She will report to the General Manager on all matters relating to her work and shall work in full coordination with the Manager finance.
	Before initiating any prospective business activity, He/she shall discuss with the GM and MD and brief them for any assistance or stand to be taken by the company on matters such as terms of business, discuss on every critical stage before making commitments on behalf of the company. It should be borne in mind that all such prospective business proposals are subject to approval of the Board of directors or even approval from the Govt. in certain cases.
	For all inputs necessary for the functions related to marketing, she may seek guidance on financial matters and terms commensurate with the norms fixed by the company on previous projects from time to time, keeping in mind always prevailing trend of borrowings, lendings etc in financial institutions etc.
	As business manager, He/she will keep a standard record of brief outline of terms and conditions of borrowings and landings normally adopted by banks and financial institutions. This will help her in follow up further progress in any projects.
	The business manager may work out alternate business strategies and propositions which will improve the activities of the corporation in the competitive market and for his purpose keep close liason with banks and financial institutions.
	The business manager will deal with scrutiny and preparation of documents relating to the project activities and closely follow up realization of money due to the company from borrowers or other business organizations, to ensure that money’s are realized on time and to initiate steps including legal steps whatsoever required.
	The business manager may keep in mind the main objects and other objects specified on the memorandum and articles of association of the company in the business activity initiated with the company.
	All the business correspondences may be issued after getting approval from the Managing Director.
	The business manager will maintain close relationship with Government in connection with the business activities of the company.
	The business manager is expected to be a live wire on business activity and as such shall always at interest of the organization and concentrate on new activities in a regular manner and vigorously follow up new business activity. She shall prepare budget for new activities in consultation with Manager Finance
	He/She will have to see all files and records of the company and any other duty assigned by the Managing Director.
	Business Manager may be authorized to sanction payments upto a limit of Rs. 10,000/-(Rupees Ten Thousand only) in connection with the business operations of the Company.

Assistant Manager (Finance)

Assistant Manager is responsible for carrying out the following functions:

Maintenance of books of accounts as per Companies Act, 1956.

Preparation of Annual Plan of operation and budget,

Preparation of Annual Accounts and related statements for Quarterly Financial Review by the Audit Committee,

All matters connected with Audit of Accounts by Internal Auditors, Statutory Auditors, and Tax auditors and by CAG on the accounts of the company,

Ensure recording of minutes of the meeting of the Board of Directors, Extra Ordinary General Meetings and Annual General Meeting as per Companies Act.

Scrutiny of bills relating to payments other than administrative nature,

Preparation of vouchers and generation of cheques relating to fixed deposits, loan transactions etc,

Maintenance of cash book and all other related books of accounts, bank reconciliation statements etc,

All matters related to taxes and other statutory remittances,

Litigation connected with Loans, Tax etc,

Resource mobilization:

Fixed Deposits

	Preparation of agenda notes for approval of rate of interest, text of advertisement in Board Meetings,
	Processing the fixed deposit application form,
	Collection the cash / cheque from the depositor and depositing in the bank account,
	Generation on Fixed Deposit Receipts and ensuring timely despatch of the receipts,
	Sending interest warrants to depositors on due dates,
	Providing funds in the disbursement account on the due dates,
	Timely refund of matured deposits to the respective depositors,
	Scrutiny of application for loan against depositors and for premature withdrawal,
	Maintaining database relating to the depositors and its timely updating,
	Maintenance of records relating to the fixed deposits,
	Customer queries and complaints.

Bond Issue

	Processing documents for obtaining Government Guarantee and Credit Rating,
	Preparation of Information Memorandum relating to bonds issue,
	Preparation of related agenda notes,
	Sending communications to Arrangers, Collection Banks and Registrar and Transfer Agents on their appointment,
	Filing of related returns with Registrar of Companies,
	Sending the bond closure information to the Arrangers etc,
	Working out the allotment pattern of bonds as per the decision taken in the Board Meeting,
	Preparation of letter of allotment and Bond Certificates,
	Statutory compliances as per RBI guidelines, SEBI, Company Law etc,
	Verification of the interest statement prepared by the registrars and the amounts printed in the warrants,
	Sending interest warrants to bond holders on due dates,
	Maintenance of all other relevant records,
	Providing necessary information as required by the credit rating agency, RBI,
	Depositories, SEBI etc.

Term Loan

	Preparation of related agenda notes for approval in Board Meeting,
	Processing of documents to be executed with banks,
	Upkeep of the loan agreements executed with banks,
	Processing files for payment of interest on due dates to banks,
	Registration of charges with registrar of companies,
	Maintenance of all other relevant records.

Lendings

	Scrutiny of applications,
	Analysis of loan proposal,
	Preparation of agenda notes,
	Processing loan documents to be executed,
	Liaison with clients,
	Release of loan installments to the clients,
	Forwarding demand notices to loan clients on time,
	Recovery of interest and principal on due dates from clients,
	Ensure compliance of all other post sanction formalities of loan,
	Litigation connected with lending.

Filing of returns with Income Tax departments, Registrar of Companies, Reserve Bank of India etc on due dates itself,

Preparing Annual Reports, getting it printed on time and send to Power Department for placing before the Legislature on time,

Making the statutory payments like remittance of Advance Income Tax, tax deducted from interest payments made, guarantee commission to Government etc on time,

Sending TDS Certificates to investors on time,

Custodian of all documents related to borrowings and lending and statutory registers and ensure safe,

Responsible for the upkeep of all statutory registers and documents related to company matters,

Sending replies to all official correspondences other than of administrative nature as per the directions given by the General Manager,

Coordinate with Statutory Auditors, Internal Auditors etc and ensuring that the audit is taken up on time,

Consult Consultant (Company Affairs) on Company Law / other legal matters wherever necessary,

Deal with correspondence with Government / RBI / other authorities with MD’s / GM’s approval,

Safe custody of database of accounts and all databases relating to resource mobilizations and lending in electronic mode not otherwise outsourced to external agencies,

Upkeep of the software package used in the accounting and financial transactions,

Liaison with software consultants to ensure timely completion of customizations in the software package,

Disciplinary control of staff working under his administrative control,

Any other duty assigned by the Managing Director / General Manager.

Delegation of Financial Powers

The financial powers delegated to Managing Director, General Manager and Administrative Manager is given below.

FINANCIAL POWERS

Sl No	Particulars	Revised with effect from 1/4/2003

		MD
1	Sanction to purchase stores, tools & plants, furniture, office equipments, and other expendable stores subject to condition that monopoly products & branded products can be purchased directly from manufacturers or from their authorized dealers.	Rs. 5.00 Lakhs

2	Payment of charges for obligatory advertisements	Full powers

3	Payment of charges for non-obligatory advertisements.	Rs. 20,000/-

4	Purchase of stationery & payment of printing charges	Rs. 1.00 Lakhs

5	Non-recurring contingent charges	Rs. 10,000/-

6	Purchase of motor vehicles sanctioned by the Board directly from manufacturers or their authorized dealers.	Full powers

7	Sanction for the repairs of motor vehicles & other machinery	Rs. 75,000/-

8	Sanction for the disposal of unserviceable articles, stores and vehicles (book values are indicated)	Rs. 10000.00

9	Technical sanction for repairs & maintenance of buildings and compound	Rs. 1.00 Lakh

10	Write off of value of stores	Rs. 50,000

11	Write off of irrecoverable Revenue relating to Administrative expenses	Rs. 5,000/-

12	Sanctioning & incurring expenditure for publicity, extension, education and training activities	Rs. 25,000/- subject to annual limit of Rs. 3 lakhs

13	Sanctioning and incurring expenditure for purchase of films, books, journals and other publications	Rs. 10000/- subject to annual limit of Rs. 1 lakh

14	Sanctioning and incurring expenditure for conducting customer meet, training programme	Rs. 20,000 annual limit Rs. 5 lakh

15	Sanctioning payment of legal & audit charges	Full powers

16	Payment all statutory payments like Guarantee Commission, Stamp Duty, etc	Full powers

17	Guest Entertainment expenses subject to annual limit fixed by the Board	Full powers

18	Payment of postage & telephone charges	Full powers

19	Power to sanction rent for private building taken for the use of Corporation	Full powers

20	Power to keep cash in office	Full powers

21	Keeping Cash for petty expenses	Nil

ESTABLISHMENT MATTERS

Sl No	Particulars	Revised with effect from 1/4/2003

		MD

1	Payment of Salary & Allowances, Leave Salary etc to Employees	Full Powers

2	Sanction of all types of leave as per rules to subordinates except study leave & leave without allowance for more than 120 days	Full powers

3	Sanction of TA as per rules to subordinates for travel with in the state and adjoining districts of neighboring states	Full powers

4	Sanction of travel outside the state of subordinates	Full powers

5	Sanction of increment as per rules to subordinates other than deputationists	Full powers

6	Sanction of Advance to subordinates as per rules	Full powers

7	Medical Reimbursement ot subordinates subject to the provisions in the Medical Benefit	Full powers