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दीपफार्मा निदेशकों की रिपोर्ट, दीपफार्मा निर्देशकों द्वारा रिपोर्ट

दीपफार्मा

बीएसई: 507722  |  NSE: DEEPHARMA  |  ISIN:  |  Pharmaceuticals

खोजें दीपफार्मा कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '01
Your Directors present this Seventeenth Annual Report and the Audited
 Accounts of the Company for the year ended 31st March, 2001.
 
 FINANCIAL RESULTS
 
 Your Company has achieved a turnover of Rs. 124 lac for the year ended
 31st March, 2001 as against Rs. 502 lac for the preceding year. The
 loss for the year is Rs. 1905 lac as compared to loss of Rs. 2237 lac
 for the previous year. The details for the year are as below:
 
                                              Year ended      Year ended
                                              31.03.2001      31.03.2000
                                              (Rs. Lacs)      (Rs. Lacs)
 
 Profit/(Loss) before Interest,
 Tax & Depreciation                             (657.38)       (1064.97)
 
 Profit/(Loss) before Tax & Depreciation       (1764.62)       (2062.19)
 
 Depreciation                                   (142.75)        (135.31)
 
 Profit/(Loss) before Tax                      (1907.37)       (2197.50)
 
 Provision for Tax                                    -               -
 
 Profit/(Loss) after Tax                       (1907.37)       (2197.54)
 
 Previous Year Adjustments                         1.74          (39.10)
 
 Net Profit/(Loss)                             (1905.63)       (2236.60)
 
 DIVIDEND
 
 On account of losses, your directors are unable to recommend any
 dividend for the financial year 2000-2001.
 
 OPERATIONS
 
 During the year, due to shortage of working capital and financial
 crisis, the turnover of your Company was low at Rs. 124 lac and
 consequently under utilisation of plants and as such your Company
 incurred losses in operations.
 
 WINDING UP ORDER BY BIFR
 
 As the members are aware that the network of your Company for eroded
 and a reference was made to Hon'ble BIFR (Board of Industrial and
 Financial Reconstruction) on 21.5.98. Subsequently Hon'ble BIFR
 intimated to the company vide order dated 3.7.2000 that the Bank &
 Financial Institutions are not accepting the Rehabilitation Proposal
 and has taken the decision of winding-up of the Company and the company
 filed an appeal against the order of Hon'ble BIFR but the same was not
 accepted by the Hon'ble AAIFR. The Company has received an order dated
 8th November, 2000 for the Hon'ble Appellate Authority For Industrial &
 Financial Reconstruction, New Delhi, confirming BIFR's opinion for the
 winding-up of the company. The Hon'ble AAIFR has ordered for
 constituting `Assets Sale Committee' to take all steps for the sale of
 the assets of the company. The sale proceeds of the assets to be sold
 under section 20(4) of SICA shall be forwarded to the concerned Hon'ble
 High Court, New Delhi for distributing in accordance with the law. The
 Hon'ble AAIFR has referred the matter to the Hon'ble BIFR for the sale
 of the company's assets u/s 20(4) of SICA.
 
 LEGAL CASES
 
 Some legal cases/proceedings have been initiated against your Company
 and the Directors of the Company, which are being dealt with in
 different courts of law. Since the matters are sub-judice, the exact
 liability of the Company can't be ascertained at this point of time.
 
 PERSONNEL
 
 The cordial relations prevails between employees and the management as
 your Company pay greater attention in encouraging a healthy work
 environment. The Directors wish to place on record their appreciation
 of the services of its employees at all levels.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS
 
 Statement in accordance with the provisions of Section 217(1)(e) of the
 Companies Act, 1956 read with the Companies (Disclosure of Particulars
 in the respect of Board of Directors) Rules, 1988, regarding
 conservation of energy, technology absorption and foreign exchange
 transactions are given in Annexure - 1 forming part of this Report.
 
 EMPLOYEES PARTICULARS
 
 Section 217(2A) of the Companies Act, 1956 read with Companies
 (Particulars of Employees) Rules, 1975 as amended, is not applicable
 since none of the employee is drawing salary in excess of the limits
 laid down therein.
 
 FIXED DEPOSITS
 
 Your Company has neither invited nor renewed any deposits u/s 58A of
 Companies Act, 1956 during the year. The Deposits amounting to Rs. 107
 lac which have matured during 2000-2001 are lying unpaid.
 
 DIRECTORS
 
 Sh. Umesh Sanghi retires by rotation and is not eligible for
 re-appointment u/s 274(1)(g) of the Companies Act, 1956. The Board
 places on record its appreciation for the valuable guidance rendered by
 him during his tenure as Director of the Company.
 
 In accordance with the provisions of the Companies Act, 1956 and
 Company's Articles of Association, Shri Sunil Vashishtha in whole time
 employment of the company has been appointed as Additional Director,
 w.e.f. 30.07.2001 and he will hold office of Additional Director upto
 the ensuing Annual General Meeting and is eligible for re-appointment.
 The necessary resolution will be placed in the Annual General Meeting
 for his appointment as Whole Time Director.
 
 Shri Anil Munjal voluntarily resigned from Board of Directors w.e.f.
 30.04.2001. The Board placed on record its appreciation for the
 valuable guidance rendered by him during his tenure as Director of the
 Company.
 
 RESPONSIBILITY STATEMENT
 
 As required under Section 217(2AA) of the Companies Act, 1956 your
 Directors confirm that in the preparation of the annual accounts.
 
 i) the applicable accounting standards have been followed alongwith
 proper explanation relating to material departure;
 
 ii) such accounting policies have been selected and applied
 consistently and reasonable and prudent judgments and estimates made,
 so as give a true and fair view of the state of affairs of the Company
 at the end of the financial year and the profit of the Company for that
 period;
 
 iii) proper and sufficient case has been taken for the maintenance of
 adequate accounting records in accordance with the provisions of this
 Act for safeguarding the assets of the Company and for prevailing and
 detecting fraud and other irregularities;
 
 iv) the annual accounts have been prepared on a going concern basis.
 
 CORPORATE GOVERNANCE
 
 The Audit Committee and Share Transfer Committee of the Board have
 already been set up.
 
 AUDITOR'S REPORT
 
 Since observation made by the auditor in their report are self
 explanatory and have dealt within the notes to accounts, these of not
 require further clarification.
 
 AUDITORS REPORT AND RE-APPOINTMENT
 
 M/s. Saluja & Associates, Chartered Accountants, auditors of the
 company retire at the conclusion of the ensuing Annual General Meeting
 and are eligible for re-appointment. The Company has obtained from them
 a certificate to the effect that their re-appointment if made, will be
 within the limits specified under Section 224 (1-B) of the Companies
 Act, 1956. The specific notes forming part of the accounts referred to
 in the Auditor's Report are self explanatory and give complete
 information.
 
 ACKNOWLEDGEMENT
 
 The Directors take this opportunity to convey their deep sense of
 gratitude for the valuable assistance, support and co-operation
 extended to the Company by banks, financial institutions, medical
 profession & trade, customers, suppliers and investors.
 
 
 Information as per Section 217(1)(e) of the Companies Act, 1956 read
 with Companies (Disclosure of Particulars in Report of the Board of
 Directors) Rules, 1988 and forming part of the Directors' Report for
 the year ended 31st March, 2001.
 
 A. CONSERVATION OF ENERGY
 
 a) Energy Conservation Measures taken:
 
 Continuous monitoring of Power factor has been done. Power factor is
 maintained at 0.98 resulting in considerable saving of electrical
 energy.
 
 b) Additional Investments and Proposals, if any, being implemented for
 reduction in Consumption of Energy:
 
 No investment has been made during the current financial year.
 
 c) Impact of measures (a) and (b) above for reduction of energy
 consumption and consequent impact on the cost of production of goods:
 
 A considerable amount of electrical energy is saved due to power factor
 improvement.
 
 d) Total Energy Consumption & Energy Consumption per unit of
 Production:
 
 Information is given in Form A, annexed.
 
 B. TECHNOLOGY ABSORPTION
 
 e) Efforts made towards Technology Absorption: Nil.
 
 C. FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 f) Activities relating to Exports, Initiatives taken to Increase
 Exports, Development of New Export Markets for Products and Services
 and Export Plans: Nil.
 
 g) Total foreign Exchange Earned and Used:
 
                                   (Rs. in Lacs)
                            Year ended       Year ended
                            31.03.2001       31.03.2000
 
 i) Earned                         Nil              Nil
 
 ii) Outgo                         Nil              Nil
स्रोत: रेलीगरे टेचनोवा

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