The director have pleasure in presenting the Annual Report and
statement of Account for the Company for the year ended 31st March,
(Rs. in Lacs)
Year ended Year ended
Sales and Misc. Income 0.002 66.45
Profit before depreciation (55.74) (452.49)
Depreciation (28.75) (81.93)
Provision for Taxation NIL NIL
Misc. Expenses W/off (0.17) (2.12)
Net Profit Carried to Balance Sheet (84.65) (536.54)
During the entire year, plant was temporarily closed and production was
NIL, the Company has become a sick unit and is registered with BIFR.
Arrangement to lease out plant was cancelled unfortunately.
In absence of adequate profit, your directors are unable to declare
The members are requested to appoint Auditors for the ensuing year.
M/s. B.M. Jhaveri & co., retiring Auditors, having offered themselves
The Company has not accepted any Fixed Deposit from Public.
The particulars of Employees as required under Section 217(2a) of the
Companies Act, 1956 are not applicable as none of the employee draw
remuneration beyond the limit specified.
CORPORATE GOVERNANCE REPORT:
It is annexed as a separate part of the Corporate Governance section.
CONVERSION OF ENERGY/TECHNOLOGY ABSORPTION ETC.:
Information required under Section 217(1) of the Companies Act, 1956 is
enclosed in the prescribed form A, B, & C.
FOR AND ON BEHALF OF THE BOARD
FOR RAASHI FERTILIZERS LIMITED
PLACE: MUMBAI J.C. MEHTA
DATE : 16-08-2004 DIRECTOR