FROM THE CHAIR- Hindustan Aluminium Corporation Ltd Chairman s Speech at the Annual General Meeting on 20th June, 1978

Hindustan Aluminium Corporation Ltd Chairman's Speech at the Annual General Meeting on 20th June, 1978 Dear Shareholders I welcome you all to the Nineteenth Annual General Meeting of your Company. I need not repeat what has been stated in the Directors1 Report about the working of the plant, discontinuance in power supply by UPSEB, sales, and revaluation of plant and machinery of your Company etc. All these are dealt with in our Directors' Report already in your hand. In the report, never, it was stated that according us the 100 per cent power cut imposed by UPSEB was considered to be discriminatory and illegal and the judgment of the Hon'ble Allahabad High Court in the writ-petition filed by the Company against the power cut was awaited. Since then judgment of the Hon'ble High Court has been received and I am glad to say that the power cut order was declared ultra vires and quashed. The UPSEB was asked to supply power as per law. However, the UPSEB preferred an appeal to the Hobble Supreme Court against the judgment, and praying for stay of the High Court's Order. The Hon'ble Supreme Court, however, directed the UPSEB to supply 20 MW power (against the contracted supply of 85 MW) as an interim measure without going into the details at this stage the disposal of the case. With the resumption of power supply to the extent of 20 MW the production of aluminium has increased from 155 tonnes to 185 tonnes per day. The hearing of the Appeal is expected towards the end of July.