The Directors take pleasure in presenting the Sixteenth Annual Report
consisting of the Audited Profit and Loss Account and Balance Sheet for
the year ended 31st March, 2000.
(Rs. in Lakhs)
FINANCIAL RESULTS 1999-2000 1998-99
Income 15.26 20.29
Expenditure 16.34 18.28
Profit before Depreciation
and Preliminary and
Issue Expenses 1.08 2.01
1) Depreciation 5.64 7.02
2) Preliminary & Issue
Expenses Written Off 0.17 0.17
Profit before Taxation 4.82 (28.19)
Provision for Taxation - -
Provision after Taxation 4.82 (28.19)
Less :- Prior Period Adjustment - -
Balance Brought Forward from
Previous Year (129.65) (101.46)
Profit Carried to Balance Sheet (124.83) (129.65)
The market for the finance companies continued to be bad. Hence, the
Company could not take up any activity. However, the Company continued
its efforts in recovering the amount from its earlier customers. Your
directors have been looking for a suitable diversification plan. In
this context, the Object Clauses being amended to include the software
Sri A. Vijaya Kumar Raju will retire by rotation at the ensuing Annual
General Meeting and is eligible for reappointment.
The aggregate deposits as on 31st March, 2000 amounted to Rs. 6.75
Lakhs. There are no unclaimed/unpaid deposits as on 31st March, 2000.
M/s. Ramesh & Co., Chartered Accountants, the statutory Auditor of the
Company retire at the ensuing Annual General Meeting and are eligible
There are no employees whose particulars have to be given as per
section 217(2A) of the Companies Act, 1956.
Since the company is a finance company with respect to conservation of
energy and Technology absorption as required under the Companies
(Disclosures of particulars in the report of Board of Directors) Rules,
1988 are not furnished. There were no inflows/ outflows of foreign
exchange for the year ended 31-3-2000.
The Directors thank the Bankers, shareholders and other agencies for
their continued support and cooperation extended to the Company. Our
thanks are also to the staff of the Company for their contribution
during the year under review.