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Classic Press (International) Directors Report, Classic Press Reports by Directors
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Classic Press (International)
BSE: 526973|SECTOR: Printing & Stationery
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Classic Press (International) is not traded in the last 30 days
Classic Press (International) is not listed on NSE
Directors Report Year End : Mar '95   
 TO THE MEMBERS
 
 The Directors have pleasure in presenting their First 
 Annual Report together with the Audited Statement of 
 Accounts for the period ended 31st March, 1995.
 
 OPERATIONS
 
 As there were no manufacturing or trading operations during 
 the period under review, no Profit and Loss Account has 
 been prepared and the expenditure incurred on the project 
 have been treated as pre-operative expenditure pending 
 allocation to fixed assests.
 
 PUBLIC ISSUE 
 
 Your directors are pleased to report the encouraging 
 response to the Company's Public Issue of 27,00,000 equity 
 shares of Rs. 10/- each, which was oversubscribed by about 
 1.9 times.  The equity shares were allotted on 
 22nd April, 1995 in consultation with the Bombay Stock 
 Exchange.  Your directors thank the investing public for the 
 confidence reposed on them.
 
 PROJECT IMPLEMENTATION 
 
 Your directors are pleased to inform that all the major 
 machineries and equipments required for manufacturing of 
 continuous computer stationery have been installed and 
 commercial production commenced in August, 1995 as against 
 July, 1995 as envisaged in the prospectus.
 
 COST OVER RUN 
 
 Your directors are happy to report that despite a minor 
 delay in the project commissioning there is no cost over 
 run.
 
 DEPOSITS 
 
 The company has not accepted any fixed deposits from the 
 public.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN 
 EXCHANGE EARNINGS AND OUTGO: 
 
 As no manufacturing activities have commenced during the 
 period under report, no information is required to be 
 disclosed in respect of conservation of energy and 
 technology absorption.  
 
 Foreign Exchange earnings : Nil 
 Foreign Exchange Outgo    : Rs. 1,60,928/- on Foreign 
                             Travel.
 
 PERSONNEL 
 
 The Company has not paid any remuneration attracting the 
 provisions of the Companies (Particulars of Employees) 
 Rules, 1975 read with section 217 (2A) of the Companies Act, 
 1956.  Hence, no information is required to be given in the 
 report in this regard.
 
 AUDITORS 
 
 M/s. H. R. Dhandhania & Company, Chartered Accountants, the 
 Company's Auditors will retire on conclusion of the ensuing 
 Annual General Meeting and are eligible for re-appointment.
 
 ACKNOWLEDGEMENT 
 
 Your directors wish to place on record their appreciation 
 for the co-operation and support extended by the Economic 
 Development Corporation of Goa, Daman & Diu Ltd., Dena Bank, 
 executives and staff of the Company.
Source : Dion Global Solutions Limited
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