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Hanuman Tea Company Directors Report, Hanuman Tea Reports by Directors
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Hanuman Tea Company
BSE: 519580|ISIN: INE363C01010|SECTOR: Plantations - Tea & Coffee
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Hanuman Tea Company is not traded in the last 30 days
Hanuman Tea Company is not listed on NSE
Directors Report Year End : Mar '05   
The Directors have pleasure in presenting the Forty Third Annual Report
 and the Audited Statement of Accounts of the Company for the year ended
 31st March 2005
 
 FINANCIAL RESULTS                                   2004-2005
                                                 (31st March, 2005)
                                                   (Rs. in Lakhs)
 
 Gross Profit / Loss
 (before depreciation, interest
 and taxation)                                         (39.85)
 Less:
 a)  Depreciation                   123.74
 b)  Interest                       335.98
 c)  Provision for Tax                Nil               459.72
 Profit after Tax                                      (499.57)
 Add:
 Balance brought forward
 from the previous year                                (3710.43)
 Loss carried forward                                   4210.00
 
 DIVIDEND
 
 The Directors of your Company have not recommend any dividend due to
 continous losses.
 
 EXPANSION & MODERNISATION
 
 Due to paucity of funds no expansion programme could be carried out at
 the Tea Estates
 
 OUTLOOK
 
 The Tea Prices are under severe pressure. The long term health of the
 industry is uncertain, there is also major challenges as a result of
 cash flow problem and overall resource crunch.
 
 Work at Ramjhora T. E. was suspended on 10th August 2002 due to labour
 unrest.
 
 CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
 AND OUTGO
 
 Particulars as required under Companies (Disclosure of Particulars in
 Report of Board of Directors) Rules, 1988 are given in the annexed
 statement.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 (Pursuant to Section 217 (2AA) of the Companies Act, 1956)
 
 Your Directors are happy to put on record that the items of
 Responsibility Statement stated below pursuant to Section 217 (2AA) of
 the Companies Act, 1956 are being followed as a matter of practice.
 However, as required statutory, your Board affirms that :
 
 i) The accounting standards as applicable to our Company and
 corroborated by the Companies Act.  1956, have been followed in course
 of preparation of the Annual Accounts for the year ended 31st March,
 2005 and there have not been any material departures to warrant further
 explanation.
 
 ii) The accounting policies as have been followed are bring continued
 in course of preparation of the Annual Accounts for the year ended 31st
 March 2005, so as to exhibit a true and fair view of the state of
 affairs of the Company and the loss for that period as have been
 corroborated by the Statutory Auditors of the Company.
 
 iii) The Statutory Auditors Report confirm in regard to adequate
 controls and internal audit system being followed by the Company in
 course of running of the Companys affairs as also for maintenance of
 the assets. Your Directors take every caution to remain to relate such
 control measures to the benefit of the Company and to avoid any fraud
 or irregularities.
 
 iv) The Companys Accounts for the year ended 31st March, 2005 have
 been prepared on a going com/em basis as earlier.
 
 v) During the year total outstanding of Centurian Bank was Rs.
 1,89,59,696/- out of this Rs. 1.32.58.274/ - was principle and Rs.
 57.01,422/- was Interest.  The same was settled full & final under one
 time settelment (OTS) were carried out by payment of total
 consideration of Rs. 25 lacs.
 
 DIRECTORS
 
 Shri Shyamal Santra & Shri Laxminarayan Boral retires by rotation and
 being eligible, offer themselves for re- appointed.
 
 AUDITORS REPORT
 
 The observation made in the Auditors Report have been suitably
 clarified in the notes on Accounts which are self-explanatory.
 
 LISTING OF COMPANYS SHARES
 
 The Equity Shares of the Company are listed at Calcutta, Mumbai, Delhi
 & Guwahati Stock Exchanges and Annual Listing Fees have not been paid
 after the year 2001-2002.
 
 PERSONNEL
 
 Relation with employees at all levels of the Company in the plantations
 and in Kolkata remained cordial during the year under review except of
 Ramjhora Tea Estate.
 
 Information as per Section 217 (2A) of the Companies Act, 1956 read
 with the Company (Particulars of the Employees) Rules. 1975 is not
 applicable.
 
                                              By Order of the Board
 
 Kolkata                                        Sanjay Pramenick
 11th August, 2005                                  Director
Source : Dion Global Solutions Limited
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