Yours Directors are pleased to present their Sixth Annual Report on the
business and the Company and the Audited Accounts for the year ended 31st
OPERATION AND DIVIDENDS
The Company continued during the year under report, its sincere efforts to
make its products marketable and developmental work continued in it unit.
However in October, 1999 the Company's unit viz. Messers Vidhata Katha &
Allied Industries had barn taken over by Haryana Financial Corporation for
recovery of its dues towards the unit and till the date of issuance of this
notice the unit was in possession of the said Corporation. The Company has
obtained stay order against auction of the said Unit by Haryana Financial
Corporation and the matter is sub-judice. The Company at the time of
takeover of its unit was still to start commercial activity. As such no
dividend been recommended for the year.
In accordance with the provision of the Company Act, 1956 and the Articles
of Association of Company, Mr.Vinod Bansal retires by rotation at the
forthcoming Annual General Meeting and being eligible offers himself for
The Company continued to have cordial industrial relation. The management
is thankful to the employees for their continued contribution towards the
growth of the company.
The Auditors' Report on the accounts is self- explanatory and does not need
any further explanations.
M/s. V.M.Dhingra & Co. Chartered Accountants New Delhi, the Auditors of the
Company, retires at the ensuing Annual General Meeting and are eligible for
reappointment. The Company has received letters from them to the effect
that their appointment, if made, would be within the period the prescribed
limits specified under section 224 (1B) of the Company Act, 1956.
ENERGY, TECHNOLOGY OF FOREIGN EXCHANGE:
In accordance with the provision of Section 217(1)(e) of the Company Act
1956, read with Companies (Disclosure of particulars in report of Board of
Directors) Rules, 1988 information regarding conservation of Energy,
Technology absorption and foreign exchange earning and outgo is given in
the Annexure forming part of this report
The Company has not accepted Fixed Deposits and as such the provision of
Section 58A of the Companies Act read with Companies (Acceptance of
Deposits) Rules, 1975 are not attached. As such there are no unpaid
deposits as at 31st March 2000.
PARTICULARS OF EMPLOYEES:
No Employee of the Company is covered under the provision at section
217(2A) of the Companies Act, 1956, read with (Particulars of Employees)
Rules, 1975 as amended.
Your directors express their grateful appreciation to Shareholders, Govt.
authorities and the Banks and also place on records their deep sense of
appreciation for the devoted services, executives, staff and workers of the
By order of the Board of
Place: New Delhi
A. Conservation of Energy:
(a) Conservation measures: The Plan and Equipment put up ensures economical
use of energy.
(b) Additional investment proposal: This will also form part of
modernization proposals of the plant.
(c) Impact of measure (a) and (b): To ensure economics in power
(d) Total energy consumption and energy consumption per unit of production
is given in form B of the Annexure.
TECHNOLOGY ABSORPTION, ADAPTION AND INNOVATION
1. Efforts, in brief, made towards Technology Nil
absorption, Adaptation and innovation
2. Benefits, derived as a result of the above efforts e.g
Product improvement, cost reduction, product development
Import substitution etc.
3. In case of imported technology (imported during the last 5 years
Reckoned from the beginning of the financial year), following information
(a) Technology imported Nil
(b) years of import Nil
(c) Has technology been fully absorbed? Nil
(d) If not fully absorbed, areas where this has not Nil
Taken place, Resign therefore and future plans of action