The Directors are pleased to submit Second Annual Report and Audited
Statement of Account for the year ended 31st March, 1996
Your Directors donot recommend any dividend for the year.
During the year the Company has earned the income of Rs. 11,58,740/-
and after appropriating expenses and depreciation the company has
incurred net loss of Rs.48,507/-.
STATUS OF THE PROJECT
The implementation of the Project of Oyster Mashroom is going on full
swings. The Status of the Project is as under.
1. Land Acquisition Completed
2. Registration of Sale Deed Completed in May,95
3. N.A.Permission Obtained in Sept.94
4. Factory Building Construction Completed.
5. Power Connection 50 H.P. availed and balance 50 H.P.
is expected during this year.
6. Order for machinery Delivery Received at site.
8. Commercial Production Expected to commence
during this year.
PARTICULARS OF EMPLOYEES
There is no employee drawing remuneration of Rs. 12000/- the
information as per section 217(1) (e) of the said Act read with the
Companies (disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 are not required to be furnished.
CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN
The Company has no activities relating to conservation of energy and
technology absorption, and there was no foreign exchange earning,
Expenditure in foreign currency amounted to Rs. 209134-00 during the
year for travelling purpose.
The Company has not accepted any fixed Deposits during the year.