DIRECTORS:
Mr. Shriram Chaudhary, is due to retire at the forthcoming Annual General Meeting,
offers himself for re-appointment for further period.
Mr. Rahul Basu, who was appointed as additional director of the Company on 10th February,
2001, will cease to hold their office on conclusion of the forthcoming Annual General Meeting.
Notices were received from a member signifying his intention to propose his candidature for
directorship of the Company. Your Directors recommend the appointment of Mr. Rahul Basu as
Directors as the same is in the interest of your Company.
DIRECTORS' RESPONSIBILITY STATEMENT
Your Directors would like to inform members that the audited accounts for the year ended
31st March, 2001 are in full conformity with the requirement of the Act and they believe
that the financial statements reflect fairly the form and substance of transactions carried
out during the year and reasonably present the Company's financial condition and results of
operations. These financial statements are audited by the Statutory Auditors M/s Ranjeet
Agarwal & Associates.
Your Directors further confirm that:
that in the preparation of the annual accounts, the applicable accounting standards had been followed;
the accounting policies are consistently applied and reasonable, prudent judgement and estimates are made so as to give a true and fair view of the state of affairs of the company at the end of the financial year;
that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
that the directors had prepared the annual accounts on a going concern basis.
AUDITORS:
M/s. Ranjeet Agarwal & Associates, Chartered Accountants, appointed as Statutory Auditors of
the Company due to casual vacancy created on the sad demise of Mr. Sushil Sah, Proprietor of
M/s Sushil Sah & Associates, Chartered Accountants, the Previous Auditor of the Company,
retire at the conclusion of the Annual General Meeting. They have indicated their willingness
to continue as Auditors if re-appointed. The Company has received a certificate from them to
the effect that their appointment, if made, will be within the prescribed limits under section
224(1B) of the Companies Act, 1956. Members are requested to appoint Auditors.
PARTICULARS OF EMPLOYEES:
The Company has no employee during the year who is in receipt of remuneration specified in
section 217(2A) of the Company's Act, 1956.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS & OUTGO:
Since there is no manufacturing activity carried on by the Company, the particulars in
respect of conservation of Energy, Technology Absorption and Foreign Exchange Earnings and
outgo as required U/s 217(1)(e) of the Companies act, 1956 are not furnished.
ACKNOWLEDGMENTS
Your Directors wish to place on record its appreciation of the employees, Banks, Merchant
Bankers, Stock Exchange authorities for their able guidance and support.
