Your Directors have great pleasure in presenting Annual Report together
with the Audited accounts for the year ended March 31, 2005.
FINANCIAL RESULTS: Year ended Year ended
Rs. In Lacs Rs. in Lacs
Sales & Other Income 2446.87 6836.53
Net Profit after depreciation & taxation [-] 140.54 [-] 168.13
Balance Brought Forward [-] 2699.94 [-] 2531 81
Balance Carried Forward [-] 2840.47 [-] 2699.94
The Company has suffered loses in the current year mainly due to
The Company has leased out its Kareli and Chhindwara Plants and the
same are being are operated by the lessee. The Company is making
payments to the bank/institutions out of the lease rent income.
The company has submitted a proposal for One-Time-Settlement of the
dues with State Bank of India.
Due to carry forward losses, your Board do not propose any Dividend for
the year ended March 31, 2005.
Your Company has not accepted any deposit within the meaning of section
58A of the Companies Act, 1956 from Public and the rules made
BOARD OF DIRECTORS:
As per the Provisions of the Companies Act, 1956 and in terms of the
Articles of Association of the Company, Mr. Rajesh Jain, Director of
the Company retire by rotation and being eligible, offer himself for
The observations of the auditors contained in their Report are Self
explanatory and further have been adequately dealt with in the Notes to
the Accounts given in Schedule M which are self explanatory and
further the Board hereby explains:
PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNING AND OUTGO:
The information pursuant to section 217 (I) (e) of the Companies Act,
1956 read with the Companies ( Disclosure of particulars in the Report
of Board of Directors ) Rules 1988 are not applicable to Company as the
Company has not done any manufacturing activities during the year.
PARTICULARS OF EMPLOYEES:
None of the employees of the Company came within the purview of the
information required u/s 217 (2A) of the Companies Act, 1956 read with
the Companies (particulars of Employees) Rules, 1975 as amended.
SAFETY, ENVIRONMENTAL CONTROL AND PROTECTION:
The Company has taken all the necessary steps for safety and
environmental control and protection at the plant.
The Directors wish to convey their appreciation to the Companys
shareholders, customers, suppliers, bankers and distributors for the
support they have given to the Company and the confidence, which they
have reposed in its management and the employees for the commitment and
dedication shown by them.
Registered Office: For & on behalf of the Board
C/o. Capco Exports, For PRIME SOLVENT EXTRACTIONS LIMITED
Jeevan Sahakar Building,
5, Homji Street, Fort,
August 31, 2005. DIRECTOR