डीसीएल मैरिटेक निदेशकों की रिपोर्ट, डीसीएल मैरिटेक निर्देशकों द्वारा रिपोर्ट

डीसीएल मैरिटेक

बीएसई: 526207  |  NSE: N.A  |  ISIN:  |  Aquaculture

खोजें डीसीएल मैरिटेक कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '02
Your Directors have pleasure in presenting this Tenth Annual Report of
 your Company together with the Audited Accounts for the year ended 31st
 March, 2002.
 Financial Results:
 The Financial results for Year ended 31st March, 2002 are as follows:
                                                         (Rs.  in Lakhs)
                                       Year ended             Year ended
                                       31-03-2002             31-03-2001
 Processing Charges/other Income             8.81                  60.10
 Profit/(Loss) before Tax                (109.02)               (135.64)
 Provision for Tax                              -                      -
 Profit/(Loss) after Tax                 (109.02)               (135.64)
 Review of operations:
 During the year under review, the Company incurred a Net loss of Rs.
 109.02 Lakhs. During the year under review the Income was only from
 Processing of Shrimps on job work basis. The interest on working
 capital was not provided as State Bank of lndia (lead Bank of the
 Consortium), Canara Bank and Bank of Baroda have approved One Time
 Settlement (OTS) of dues. Necessary steps are being taken to implement
 the OTS scheme.
 During the year under review, a Creditor of the Company has filed a
 Company Petition in the Honourable High Court of Andhra Pradesh praying
 for winding up of the Company as the Company could not pay the
 outstanding amount. The Honourable Court directed the Company to file a
 Counter Affidavit. The Counter Affidavit was filed on 24th April, 2002
 praying the Honourable High Court for dismissal of the Case interalia
 as temporary financial crisis is not a ground under Section 434 of the
 Companies Act, 1956 for winding up of the Company as it is not an
 inability to pay the Debts and requested the Honourable High Court to
 grant time for payment of the outstanding amount. The case is pending
 in the Honourable High Court of A. P.
 Disposal of Processing Plant:
 M/s. ICICI Ltd filed an Interim Application (in Original Application
 No. 1683 of 1999) on 11-4-2001 before the Honourable Debt Recovery
 Tribunal (DRT), Mumbai praying for appointment of a
 Receiver/Commissioner for registration of the Processing Plant in
 favour of Buyer Viz. M/s. Anjaneya Sea Poods. In response to the said
 Interim Application, DRT vide Orders dated 18-12-2001 and 20-12-2001
 appointed M/s. Khade, Bhapat, Kabe, Sinha and Associates, Mumbai as the
 Commissioner for registration o{ the Processing Plant in favour of
 Buyer M/s. Anjaneya Sea Foods and directed the Commissioner to file a
 compliance report before 30-1-2002. The registration formalities were
 completed on 25-1-2002.
 Disposal of Lands of the Company:
 M/s. State Bank of India (lead Bank of the Consortium of Banks), Canara
 Bank and Bank of Baroda have approved One Time Settlement of dues vide
 their letters dated 1-4-2001, 29-1-2001 and 5-10-2001. Under scheme of
 OTS, the company had to deposit with them, the compensation receivable
 from the Govt. of Andhra Pradesh and funds realised by the proposed
 sale of lands situated at Krishnapatnam Village, Nellore Dist. and
 Karedu Village, Prakasam Dist. The Members at the Annual General
 Meeting held on 21-6-2000, approved disposal of lands of the Company
 under section 293 (1) (a) of the Companies Act, 1956. The Promoters
 contribution of Rs. 4.55 lakhs as a part of OTS Scheme was deposited
 with State Bank of India, Industrial Finance Branch, Somajiguda,
 Hyderabad on 20-4-2001. The Company is in the process of identifying
 the prospective buyers for the sale of the said lands. Many farmers are
 not coming forward to purchase lands at Karedu Village, Prakasam Dist.
 as there is set back in the Aquaculture Industry and also due to higher
 stamp duty and registration fees, as the value of lands as per the
 Government records is much higher than the present market value.
 Inspite of this, the Company is putting its best of efforts for
 identifying the prospective buyers.
 Public Deposits:
 The Company has not accepted any deposits either from the Public or
 from the Shareholders during the Year under review and no deposit was
 outstanding and payable at the close of the Financial Year.
 Diversification Into other areas:
 The Board delegated powers to the sub-committee for studying the
 various alternative businesses. The sub-committee shall study the
 alternative businesses and submit its report to the Board.
 Conservation of Energy and Technology absorption:
 Information on consumption of energy, technology absorption under
 Section 217(1) (e) of the Companies Act, 1956 is not applicable and
 there was no foreign currency earnings and outgo during the year under
 Particulars of Employees:
 Statement of Particulars of Employees as required under Section 217
 (2A) of the Companies Act, 1956 is not applicable as none of the
 employees were in receipt of salary specified therein.
 The Statutory Auditors M/s. M. Bhaskara Rao & Co. retire at the
 conclusion of the ensuing Annual General Meeting and being eligible
 offer themselves for reappointment.
 Dr. G Satti Reddy, Director retire by rotation and being eligible,
 offer himself for re-appointment. 
 Audit Committee:
 The Board of Directors constituted an Audit Committee with the
 following Directors as Members of the Committee viz. Dr. N P V S Raju,
 Managing Director (Chairman); Dr. Q Satti Reddy, Director; and Sri N
 Ravindra Varma, Director. The Audit Committee met on 27-11-2001 and
 Directors responsibility Statement:
 The Board of Directors, in pursuance of Sub Section (2AA) of Section
 217 of the Companies Act, 1956 hereby confirm that
 i) in the preparation of Annual Accounts, the applicable accounting
 standards had been followed;
 ii) they had selected such Accounting Policies and applied them
 consistently and made judgements and estimates that are reasonable and
 prudent so as to give a true and fair view of the state of affairs of
 the company at the end of financial year and of the loss of the Company
 for the period under review:
 iii) proper and sufficient care has been taken for maintenance of
 adequate accounting records with the provisions of this
 Act for safeguarding the assets of the Company and for preventing and
 detecting fraud and other irregularities; and
 iv) the Accounts have been prepared on a going concern basis.
 Your Directors convey their sincere thanks to the Government of Andhra
 Pradesh, ICICI Limited, The Marine Products Export Development
 Authority, State Bank of India, Bank of Baroda, Canara Bank and all
 others concerned, for the support and co-operation extended by them to
 the Company. Your Directors place on record their appreciation of the
 good work done by the employees of the Company at all levels.
                                          for and on behalf of the Board
 Place: Hyderabad         Dr. N P V S Raju            Dr. G. Satti Reddy
 Date: 02.09.2002         Managing Director                     Director
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1943.41 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `1757.79 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2051.12 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `413.11 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `485.49 Cr की बिकवाली
  • MARKET CUES : स्टॉक फ्यूचर्स में `1166.75 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `14.23 Cr की खरीदारी
  • CORONA OUTBREAK : दुनियाभर में कोरोना के अब तक 15,17,014 मामले
  • CORONA OUTBREAK : दुनियाभर में कोरोना से अब तक 88,411 मौत
  • CORONA OUTBREAK : दुनियाभर में कोरोना से अब तक 3,29,731 रिकवर

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(August 06, 2018)

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