28 Apr 2017 | Livemint.com

Last Updated: Mar 31, 03:51 PM
Chennai Petroleum Corporation Ltd.


  • 362.75 2.35 (0.65%)
  • Vol: 73167
  • BSE Code: 500110


  • 363.05 0.00 (0%)
  • Vol: 732364

Chennai Petroleum Corporation Ltd. Accounting Policy



Chennai Petroleum Corporation Ltd. (hereinafter referred to as CPCL) is focused on ensuring effective conduct of the affairs of the Company with the objective of enhancing the value of all its stakeholders. CPCL strongly believes that ideals of good Corporate Governance primarily need transparency, full disclosure and fairness to all stakeholders. The Company considers Corporate Governance as an important tool for achieving all round excellence.

For effective implementation of the best practices in Corporate Governance, CPCL has formulated the following codes :

• Code of Conduct for Directors and Senior Management Personnel

• Code of Conduct for prevention of Insider Trading

• Risk Management Policy

• Integrity Pact

• Whistle Blower Policy

• Conduct, Discipline and Appeal Rules for employees

• Policy on Corporate Social Responsibility & Sustainable development

• Policy on Related party Transactions and Policy for determining material Subsidiaries


2.1 The Board of Directors of the Company has an optimum combination of both Executive and Non-Executive Directors.

2.2 As on 31.03.2015, CPCL Board comprises of the following categories of Directors:

• One Non-Executive Chairman, who is the Chairman of Indian Oil Corporation Limited (the Holding Company).

• Managing Director

• Three whole-time Functional Directors, viz., Director (Operations), Director (Finance) and Director (Technical)

• Director (Refineries) of Indian Oil Corporation Limited, representing holding company

• One Director, representing Ministry of Petroleum & Natural Gas

• Two Directors nominated by Naftiran Intertrade Company Limited, an affiliate of National Iranian Oil Company, one of the co-promoters, in terms of the Formation Agreement

• One Non-Executive part-time Independent Director.

Out of the total number of ten Directors as on 31.3.2015, Six Directors were Non-Executive Directors. Thus the Company meets the requirement of the number of Non-Executive Directors being not less than 50% of the Board of Directors of the Company as prescribed by SEBI under Clause 49 of the Listing Agreement

2.3 As per Clause 49 of the Listing Agreement, if the non-executive Chairman is a Promoter of the Company or is related to any promoter or person occupying Management positions at the Board level or at one level below the Board, atleast one-half of the Board of the Company shall consist of Independent Directors. Since, the Company has a non-executive Chairman who is on the Board of Indian Oil Corporation Limited, the Company needs to have 8 Independent Directors.

Presently, the Company has One Independent Director. The appointment of additional Independent Directors is under the consideration of Government of India.

2.4 Conduct of Board Meetings

The Board of Directors monitors the overall functioning of the Company and set objectives for achieving the targets. The Board has constituted various committees to facilitate and expedite the decision making process.

The dates of the Board Meetings are fixed in advance and intimated to the Board members to help them plan their schedule. The agenda papers are circulated to the Directors in advance before the meeting. The agenda proposals are comprehensive to facilitate deliberations and arrive at proper decisions.

2.5 Information placed before the Board

The agenda placed before the Board inter-alia includes the following:

• Annual operating plans and Capital and Revenue budgets.

• Quarterly and Annual Financial results of the Company.

• Quarterly report on investments , borrowings, cash flow statement

• Constitution of Board committees with terms of reference.

• Minutes of meetings of Audit Committee and other Committees of the Board, as also resolutions passed by circulation.

• Details of investment in any joint venture / subsidiary.

• Status of various projects.

• Risk management and minimization process.

• HR related issues.

• Safety

• General notices / matters of interest of Directors.

• All proposals requiring Board approval in line with the Manual on Delegation of Authority

• Periodic reports on the following:

* Secretarial reports

* Compliance of laws

* Action Taken Report (ATR) on decisions of the Board


4.1 The Board has constituted four mandatory Committees, viz., Audit Committee, Stakeholders Relationship Committee, Remuneration Committee and Committee on Corporate Social Responsibility & Sustainability Development and three non-mandatory Committees, viz., Planning and Projects Committee, Board Project Committee and Research Advisory Committee.

4.2 The minutes of the Committee Meetings are circulated to the members after approval by the Chairman of the Committee and also placed before the Board in subsequent Meetings for taking on record.


4.3.1 Composition of the Committee as on 31.3.2015:­1. Mr.G.Ramaswamy, Independent Director - Chairman.

2. Ms.Perin Devi, Director - Member (w.e.f. 12.03.2015)

3. Mr.S.Krishna Prasad, Director - Member (w.e.f. 09.01.2015)

4. Mr.Yasin Rezazadeh, Director - Member (w.e.f. 22.03.2015)

5.3.2 Terms and reference of the Audit Committee:-

The Terms of Reference of Audit Committee covers all matters specified under the provisions of the Companies Act 2013 as well as revised Clause 49 of the Listing Agreement of the Stock Exchanges, which inter alia includes the following:

• Overseeing the Company's financial reporting process and disclosure of financial information to ensure that the financial statements are correct, sufficient and credible.

• Reviewing with management the quarterly and annual financial statements alongwith related party transactions, if any, before submission to the Board.

• Reviewing with the management and statutory and internal auditors, the adequacy of internal control systems.

• Discussion with internal auditors on Annual Internal Audit Program, Significant Audit Findings and follow up on such issues.

• Discussion with statutory auditors before the audit commences on the nature and scope of audit, as well as having post-audit discussion to ascertain any area of concern.

• Reviewing the Company's financial and risk management policies.

• Reviewing with the management, the observations / comments / assurances of the Comptroller & Auditor General of India (CAG).

• Review with the management, the follow-up action taken on the recommendations of the Parliamentary Committee on Public Undertaking (CoPU).

• Review of Cost Audit Report.

• Approval or any subsequent modification of transactions of the company with related parties.

3.3.4 The Audit Committee meetings are attended by the Head of Internal Audit as invitee. The representatives of the Statutory Auditors are also invited to the Audit Committee meetings while considering the quarterly / annual financial statements and discussion on nature & scope of Annual Audit. The Cost Auditors are invited when the Cost Audit Reports are considered by the Audit Committee.

The Minutes of the meetings of the Audit Committee are circulated to the members of the Audit Committee and to all concerned for necessary action and are also submitted to the Board for information. The ATR on decisions of the Audit Committee are also submitted to the Committee as a follow up action.


3.4.1 CPCL being a Government Company, the appointment and the term and condition of such appointment (including remuneration), of the Whole-time Directors is decided by the Government of India. However, the Board of Directors of the Company at the 262nd Meeting held on 27.07.2009 constituted a Remuneration Committee, in line with the DPE Guidelines dated 26.11.2008. The Independent Directors are not paid any remuneration except sitting fees for attending meetings of the Board or Committees thereof.

3.4.2 Composition of the Committee as on 31.03.2015

The Remuneration Committee comprises of the following members:

• Mr.G.Ramaswamy, Independent Director - Chairman

• Mr.S.Venkataramana, Director (Operations) - Member

• Mr.S.Krishna Prasad, Director (Finance) - Member (w.e.f. 09.01.2015)

• Mr.Sanjiv Singh, Director - Member (w.e.f. 03.07.2014)

• Ms.Perin Devi, Director - Member (w.e.f. 12.03.2015)

3.4.3 Terms of Reference

The Remuneration Committee will decide the Annual Bonus / Variable Pay pool and policy for its distribution across the Executives and non-unionised supervisors, within the prescribed limits and also other matters that may be referred by the Board.

3.4.4 No Meeting was held during the financial year 2014-15.

3.4.5 The details of Remuneration paid to all the Functional Directors are given below:

The remuneration of the whole time Functional Directors include basic salary, allowances and perquisites as determined by the Government of India. Also, they are entitled to provident fund and superannuation contributions as per the rules of the Company.

3.4.6 The whole time functional Directors are appointed for a period of five years or upto the date of superannuation, whichever event occurs earlier.

3.4.7 Criteria for payment to Non-executive Directors:

As per Article 90 A of the Articles of Association of the Company, the remuneration payable to the Directors of the Company, other than full-time Directors of the Company or Full-time employees of the Shareholders for attendance at Meetings of Board of Directors or any Committee thereof, shall be fixed by the Board of Directors of the Company from time to time.

The amount of sitting fees payable to the eligible Directors for attendance at the meetings of the Board and its Committees is Rs.20000/-.

3.4.8 The details of the sitting fees paid to non-executive Directors during 2014-15 are given below:

Mr.G.Ramaswamy – Rs. 3,60,000/-

Mr.L.Sabaretnam - Rs.  2,20,000/-

Mr.Venkatraman Srinivasan - Rs.  1,40,000/­4.4.9 None of the Independent Directors hold any shares of Company as on 31st March 2015. There were no other materially significant pecuniary relationships or transactions of the

Independent Directors vis-a-vis the Company.

3.5 Stakeholders Relationship Committee

The erstwhile Shareholders' / Investors Grievance Committee (SIGC) was renamed as Stakeholders' Relationship Committee (SRC) on 09.10.2014 pursuant to the provisions of the Companies Act 2013.

3.5.1 Composition of the Committee as on 31.3.2015:­1. Mr.G.Ramaswamy, Independent Director - Chairman

2. Mr.S.Krishna Prasad, Director (Finance) - Member

(w.e.f 09.01.2015)

3. Mr.U.Venkata Ramana, Director (Technical) - Member (w.e.f 01.12.2014)

4. Mr.Alireza Zamani, Director - Member.

(w.e.f 23.03.2015)

3.5.2 Terms of Reference

To specifically look into the redressal of Shareholders and Investors' complaints like transfer of shares, non-receipt of Balance Sheet, non-receipt of Dividends, etc.

3.5.4 Name and designation of Compliance Officer:-Mr.P.Shankar, Company Secretary is the compliance officer.

3.5.5 Number of shareholders' complaints received during the year 2014-15 and Number of pending complaints for the period from 01.04.2014 to 31.03.2015 are given below:

During the year, 430 complaints were received and all have been resolved. As on 31st March 2015, no complaints were pending.

The Company has created a designated email-id sld@cpcl.co.in <mailto:sld@cpcl.co.in> exclusively for investor servicing and for responding to their queries.


3.6.1 The Composition of Board Project Committee as on 31.03.2015 is as follows:

1. Mr.Sanjiv Singh, Director - Chairman (w.e.f 03.07.2014)

2. Director (Finance) - Member

3. Director (Technical) or Director (Operations), depending upon the Proposal considered

3.6.2 Terms of Reference

(a) To approve Capital investment exceering Rs. 50 crore and upto Rs. 100 crore and pre-feasibility expenses exceeding Rs. 10 crore and uptoRs. 20 crore.

(b) To recommend investment approval beyond Rs. 100 crore to the Board of CPCL for consideration.

3.6.3 Two meetings were held during the Financial Year 2014-15.


3.7.1 The Composition of Planning and Projects Committee is Director (Finance), Director (Technical), Director (Operations), and Managing Director

The quorum for the Committee's proceedings shall be a minimum of three members including Director (Finance).

3.7.2 Terms of Reference

(a) To approve Capital investment exceeding Rs.10 crore and upto Rs.50 crore and pre -feasibility expenses exceeding Rs. 5 crore and upto Rs. 10 crore.

4.7.3 10 meetings were held during the Financial Year 2014-15


3.8.1 The Composition of Committee on CSR & SD as on 31.03.2015 is as follows:

1. Mr.G.Ramaswamy, Independent Director - Chairman

2. Mr.S.Venkataramana, Director (Operations), Member

3. Mr.U.Venkata Ramana, Director (Technical), Member (w.e.f 01.12.2014)

4. Mr.S.Krishna Prasad, Director (Finance), Member (w.e.f 09.01.2015)

3.8.2 Terms of Reference

The role of CSR Committee is as under :

• To formulate and recommend to the Board, a CSR Policy which shall indicate the activities to be undertaken as specified in Schedule VII of Companies Act;

• To recommend the amount of expenditure to be incurred on the activities referred above

• To monitor the CSR Policy from time to time

• To institute a transparent monitoring mechanism for implementation of CSR projects or programs or activities undertaken by the company

• To review CPCL's existing CSR policy from time to time as per guidelines issued by Government

• To guide and suggest improvement in CSR activities / systems

3.8.3 The details of CSR & SD Committee Meetings held during the Financial Year 2014-15 along with the Members present are given below :


4.1 Compliance of Applicable Laws

As per Clause 49 II (D), the Board shall periodically review compliance reports of all laws applicable to the company, prepared by the company as well as steps taken by the company to rectify instances of non-compliances.

Accordingly, a system had been developed and institutionalized to ensure compliance with all laws applicable to the Company.

The Board reviewed the Compliance Report of all laws applicable to the Company for the period 01.10.2013 to 30.09.2014 at the 300th Board Meeting held on 04.11.2014.

4.2 Risk Assessment and Minimisation Procedures

As per Clause 49 VI A, the Company shall lay down procedures to inform Board members about the risk assessment and minimization procedures.

Accordingly, a system had been developed and procedures have been laid down on risk assessment and minimization.

To ensure alignment of Risk Management system with the Corporate and operational objective and to improve upon the existing procedure, the Executive Committee at its 246th Meeting held on 26.04.2011 constituted a Committee comprising of officials from various functional areas to identify the risks in the present context, prioritise them and formulate proper action plan for implementation. The Committee has formulated the Risk Management Policy with effect from 2012-13.

The Action Taken Report on the Risk Management Policy for the year 2014-15 was reviewed by the Audit Committee and the Board at the Meeting held on 23.05.2015.

4.3 Internal Control Systems - CEO / CFO Certification

As per Clause 49 IX, the CEO / CFO of the Company shall certify to the Board regarding the effectiveness of the internal control systems for financial reporting.

Systems have been developed to review the internal controls and to institutionalize the system of internal controls in the Company to enable the Managing Director and Director (Finance) certify to Board regarding the effectiveness of Internal Control System for financial reporting.

The required certification from the Managing Director and Director (Finance) being the CEO and CFO respectively was obtained and placed before the Audit Committee and the Board at the Meeting held on 23.05.2015.

4.4 Code of Conduct for Board Members and other Senior Management Personnel

As required under Clause 49 II. E. of the Clause 49 of the Listing Agreement, a declaration signed by the Managing Director of the Company that all the Board Members and Senior Management personnel have fully complied with the provisions of the Code of Conduct for Board Members and Senior Management Personnel during the financial year ending 31.03.2015 is placed below:

"This is to declare that all the Board Members and Senior Management Personnel of the Company have furnished the Annual Compliance Report affirming that they have fully complied with the provisions of the Code of Conduct for the Board Members and the Senior Management Personnel of the Company during the Financial Year ended 31.3.2015 and the same was informed to the Board at the 304th Meeting held on 23.05.2015"..

4.5 Code of Conduct for prevention of Insider Trading in dealing with the Securities of CPCL

The Securities and Exchange Board of India (SEBI) in 2003 had prescribed guidelines under SEBI (Prohibition of Insider Trading) Regulations, 1992 requiring listed entities to frame a Code of Conduct for prevention of Insider Trading. Accordingly, the Board of CPCL at its meeting held on 28.03.2003 and further amended at the meeting held on 24.03.2009 had adopted a model Code of Conduct for dealing with the securities of CPCL, which became effective from 01.04.2003. The Code was applicable to the Directors, Executive Directors, General Managers and Designated Employees of certain departments.

SEBI vide notification dated 15.01.2015 repealed the Insider Trading Regulations, 1992 and replaced the same with SEBI (Prohibition of Insider Trading) Regulation, 2015 which became effective from 15.05.2015.

As per the new Regulations, CPCL has formulated the new "Code for prevention of Insider Trading in the securities of CPCL (Insider Trading Code) based on the new regulations and the same was approved by the Board at its meeting held on 23.05.2015.

4.6 Compliance Certificate

Department of Public Enterprises (DPE) has issued Corporate Governance guidelines applicable for Central Public Sector Enterprises, which has been made mandatory effective May 2010.

CPCL has complied with the mandatory requirement of the guidelines on Corporate Governance issued by SEBI and DPE except the requirement relating to minimum number of Independent Directors which is less than half of the total strength of the Board. The Company has taken up the issue with the appointing authority, viz., Government of India. The appointment of additional Independent Directors is under the consideration of Government of India.

Clause 49 of the Listing Agreement and DPE Guidelines on Corporate Governance requires every listed Company to obtain a certificate from either the auditors of the Company or a Practicing Company Secretary regarding compliance of conditions of Corporate Governance and annex the certificate with the Directors' Report, which is sent annually to all the shareholders. The Company has obtained a certificate to this effect from the Auditors of the Company as required under the Clause 49 and DPE Guidelines and the Certificates are given as annexures to the Directors' Report.

4.7 Reconstitution and renaming of the Remuneration Committee as Nomination and Remuneration Committee and revision of its terms of reference pursuant to revised Clause 49 of the Equity Listing Agreement.

The terms of reference of the Remuneration Committee has not been revised since the terms and conditions of appointment of Directors, including their remuneration, vests with the Government of India.


(i) Training to Directors

Training to Directors in the area of Corporate Governance is always given importance by Management. The new Directors are nominated for relevant training programmes on need basis.

 (ii) Evaluation of performance of Non-Executive Directors

CPCL, being a Government Company, the performance of the Board of Directors as a whole including Non-Executive Directors are reviewed by Government of India / Indian Oil Corporation Limited at the time of evaluation of Memorandum of Understanding entered into by CPCL with IOC, the holding Company and also while reviewing the Quarterly performance of the Company by the Ministry of Petroleum and Natural Gas, Government of India

(iii) Financial Results

Financial results and the significant events are displayed in the website of the Company for the information of the shareholders.


The following are the disclosures as required under Clause 49 of the Listing Agreement, DPE Guidelines on Corporate Governance and Voluntary Guidelines on Corporate Governance issued by the Ministry of Corporate Affairs:

6.1 Materially significant Related Party Transactions:

Pursuant to revised clause 49(VII)(C) of the Listing Agreement, the Board of Directors of the Company have approved a policy on "Materiality of Related Party Transactions and dealing with Related Party Transactions" (policy on RPT). The same has been hosted on the website of the company and can be accessed at the following link : <https://www.cpcl.co.in/Investor> Centre Grievances

As per the policy on RPT, all related party transactions are approved by the Audit Committee. The Company has not entered into any material significant related party transactions during the year.

6.2 Separate meeting of Independent Directors

Since the company has only one independent Director, separate meeting of Independent Directors could not be held as per provisions of the Companies Act 2013 and Listing Agreement

6.3 Details of Non-Compliance during last three years

There were no cases of Non-compliance by the Company and no penalties / strictures were enforced on the Company by Stock Exchange / SEBI / any statutory authority, on any matter related to capital markets during the last three years.

6.4 Accounting Aspects

• In the preparation of financial statement for the year 2014-15, the Company has not adopted an accounting treatment which is different from that prescribed in the Accounting Standard, in respect of any transaction.

• The Company has not incurred any expenditure not for the purpose of business during the year 2014-15.

• The Company has not incurred any expenses which are personal in nature for the Board of Directors and key management personnel.

• The administrative and office expenses as a percentage of total expenses is 0.25% as compared to the previous year figure of 0.22%.

• The cost statements for the financial year 2014-15 will be filed before 30.09.2015 in XBRL mode.

6.5 Directors

• The Directors on the Board of CPCL are not related to each other.

• The letters issued to Non-Executive Directors on their appointment are displayed in the website of the Company.

6.6 Presidential Directives

The Company has been following the presidential directives and other guidelines issued by the Ministry of Petroleum and Natural Gas and the Department of Public Enterprises from time to time regarding reservation in services for SC / ST / OBC and Physically Challenged.

6.7 Whistle-Blower Policy

The Company has framed a whistle blower policy wherein the employees are free to report any improper activity resulting in violations of laws, rules, regulations or code of conduct by any of the employees, to the Competent Authority or Chairman of the Audit Committee, as the case may be. Any such complaint is reviewed by the Competent Authority or Chairman of the Audit Committee. The confidentiality of those reporting violations are maintained and they are not subjected to any discriminatory practice. No employee has been denied access to the Audit Committee. The policy on Vigil Mechanism / Whistle Blower can be accessed on the Company's website at the link <https://www.cpcLco.in/investor> centre grievances/.

During the year, no complaint has been received under the Whistle-Blower Policy.


7.1 Financial Results

The Board of Directors of the Company approve the Un-audited Quarterly Financial Results in the prescribed form within 45 days, of the close of every quarter and announces the results to all the Listed Stock Exchanges. The same are also published, within 48 hours in the newspapers viz., The Hindu, New Indian Express, The Economic Times, Business Line, Financial Express, News Today and Makkal Kural (Tamil).

The Quarterly Results, Half yearly Results, Annual Results and Shareholding pattern are placed on the Company's website at www.cpcLco.in. Press releases are given on important occasions. They are also placed on Company's website.

7.2 Website

The Company's website, www.cpcl.co.in  provides separate section for Investors where relevant Shareholders information is available. The Annual Report of the Company is also displayed in the website alongwith the other details like Share price, unclaimed dividend, Press Release, etc.

7.3 Chairman's Speech at AGM

Chairman's Speech at AGM is also distributed to the shareholders who attend the Annual General Meeting of the Company and the same is also displayed in the website of the Company.

7.4 Management Discussion and Analysis Report forms part of the Directors' Report 2014-15.

7.5 Green initiative - reaching important communication to shareholders through email

The provisions of the Companies Act 2013 and rules made thereunder permits paperless communication by allowing service of all documents in electronic mode Accordingly, CPCL would send the copy of the Annual Report for the year 2014-15 alongwith the notice convening the Annual General Meeting through email to those shareholders who have registered their email id with the DP's / R&T agents and have not opted for physical copy of the Annual report


8.2 Postal Ballot Details:

No Resolution was passed by Postal Ballot during 2014 - 15.

8.3 49th Annual General Meeting

Date & Time Venue :

7th September 2015 ; 03:00 p.m. : Kamaraj Arangam, 492, Anna Salai, Chennai - 600 006

8.4 Financial Calendar :

April 2014 - March 2015

8.5 Book Closure Date:

01.09.2015 to 07.09.2015 (both days inclusive)

8.6 Dividend despatch date :

The Board has not recommended any dividend for the year 2014 - 15

8.7 Listing on Stock Exchanges

The Shares of the Company are listed on the Stock Exchanges at Chennai, Mumbai and National Stock Exchange of India Limited. The listing fee for the year 2015-16 has been paid.

8.8 Stock Code

Madras Stock Exchange Ltd. - CPCL /

BSE - 500110

8.9 Trading Symbol in NSE Trading Symbol in Madras Stock Exchange


8.10 ISIN No. for dematerialized shares

: INE 178A 01016

8.11 Registrars and Share Transfer Agents

(a) Hyderabad Office:

Karvy Computer Share Pvt. Limited,

Karvy Selenium Tower B, Plot 31-32, Gachibowli Financial District,

Hyderabad - 500 032 Phone : 040-67161562

E-mail : mohsin.mohd@karvy.com  , einward.ris@karvy.com  Website: www.karvycomputershare.com   

b) Chennai Office:

Karvy Computershare Private Limited

Unit: Chennai Petroleum Corporation Limited

Akshaya Plaza, 1 Floor, Flat No. F-11 New No.108, Adhithanar Salai, (Opp: Chief City Metropolitan Court) Egmore, Chennai 600002

Phone: 044-28587781 Fax : 044-42028514 Email id: chennaiirc@karvy.com   

8.12 Share Transfer System

a) To expedite the share transfer process, the Board of Directors has constituted a Share Transfer Committee (STC). Presently the STC comprises of Mr.P.Shankar, Company Secretary and Mr.A.S.Sriram, Officer (Secretarial) to approve share transfers, transmission of shares, dematerialisation requests and rematerialisation requests etc.

8.13 Dematerialisation of Shares and Liquidity

The dematerialisation facility exists with both the National Securities Depositories Limited (NSDL) and Central Depository Services (India) Limited (CDSL) for the convenience of shareholders. As on 31.03.2015, 14,70,13,295 equity shares have been dematerialized, representing 98.73 % of the paid-up capital.

8.14 Outstanding GDRs/ADRs/Warrants or any Convertible Instruments, Conversion Date and likely impact on Equity

The Company has not issued GDR / ADR / Convertible instruments.

8.15  Plant Locations

Manali Refinery, Manali, Chennai-600 068. [Phone No.044-25944000]

Cauvery Basin Refinery, Panangudi Village, Nagapattinam District, Tamilnadu, Pin: 611 002. [Phone No.04365-256402]

8.16 Address for Correspondence

Chennai Petroleum Corporation Limited, No.536, Anna Salai, Teynampet, Chennai-600 018.

Phone: 044-24349833 Fax:044-24341753 Email: sld@cpcl.co.in  

CIN No. : L40101TN1965GOI005389 Company's Website Address: www.cpcl.co.in