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नारंग इंडस्ट्रीज निदेशकों की रिपोर्ट, नारंग इंडस्ट्रीज निर्देशकों द्वारा रिपोर्ट

नारंग इंडस्ट्रीज

बीएसई: 523317  |  NSE: N.A  |  ISIN: INE172C01015  |  Breweries & Distilleries

खोजें नारंग इंडस्ट्रीज कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '05
The Directors have pleasure in presenting 62nd Annual Report on
 business and operations of your Company together with the Audited
 Statement of Accounts for the year ended 31st March, 2005.
 
 FINANCIAL RESULTS
 
 Particulars                                Current Year   Previous Year
                                                (Rs.)          (Rs.)
 
 Profit/(Loss)before Depreciation 
 and Income tax                              (29,75,758)     95,19,678
 Less: Provision for depreciation              3,17,904       5,33,581
 Add: Provision for earlier 
 years Written Back                           15,47,178           -
 Less: Provision for Income Tax                   -          16,54,000
 Profit/(Loss) for the period                (17,46,484)     73,32,097
 
 
 OPERATIONS
 
 During the year under review, the Company has suffered a net loss of
 Rs.17.46 lacs.. Inspite of the persistent efforts, no new business has
 been identified. Efforts are still being made to re-activate the
 Companys non-molasses based alcohol manufacturing unit at Aurangabad.
 
 DIVIDENDS
 
 After reviewing the financial position of the Company, your Directors
 do not recommend any dividend on Equity Shares for the year ended 31st
 March, 2005.
 
 SUBSIDIARY COMPANIES
 
 During the year under report, Me Killigan Distillery Limited continues
 to be a wholly owned subsidiary of your Company
 
 A statement pursuant to Section 212 of the Companies Act, 1956 relating
 to the subsidiary company is attached to the accounts. The audited
 statement of accounts and the Auditors Report thereon along with
 Directors Report of your Companys subsidiary is annexed.
 
 DIRECTORS
 
 The Board of Directors at its meeting held on 30th August, 2005 and at
 the recommendation of the Remuneration Committee at its meeting held on
 5th August, 2005 has re-appointed Mr. Devinder Raj Narang as Managing
 Director w.e.f 1st October, 2005 for a period of one year. The details
 of the terms of re-appointment are given in the notice convening the
 Annual General Meeting.
 
 During the year under review, Mr. Sudarshan Goyal resigned and, in that
 casual vacancy, the Board appointed Mr Surender Kumar Sharma as a
 Director of your Company. He holds office as a Director upto the date
 of the ensuing Annual General Meeting. Your Company has received a
 notice u/s. 257 of the Companies Act, 1956 from a member proposing the
 appointment of Mr. Surender Kumar Sharma as Director and the said
 appointment is proposed in the notice for the ensuring Annual General
 Meeting for your approval
 
 The Board expresses its thanks for the valuable contributions made by
 Mr. Sudarshan Goyal during his tenure as director of your Company.
 
 During the current year, Mr. Tulsi Dass Sethi has been appointed as
 Additional Director of your Company. He holds office as Additional
 Director upto the date of the ensuing Annual General Meeting. A notice
 u/s.257 of the Companies Act, 1956 has been received from a member
 proposing the appointment of Mr. Tulsi Dass Sethi as Director and the
 said appointment is proposed in the notice for the ensuing Annual
 General Meeting for your approval
 
 Mr. Avdesh Maheshwari, who is retiring by rotation at the ensuing
 Annual General Meeting and being eligible offers himself for
 re-appointment. The Board recommends his re-appointment
 
 AUDITORS
 
 Mis. S.P. Nagrath & Co., New Delhi, hold office till the conclusion of
 the ensuing Annual General Meeting and are eligible for re-appointment.
 They have expressed their willingness to serve, if appointed. They have
 also confirmed that if re- appointed their appointment will be within
 the limits prescribed under the Companies Act, 1956
 
 AUDITORS REPORT
 
 The observations of the Auditors are explained, wherever necessary in
 appropriate notes to the accounts PARTICULARS OF EMPLOYEES
 
 The Company has not paid any remuneration attracting the provisions of
 Section 217 (2A) of the Companies Act, 1956 read with the Companies
 (Particulars of Employees) Rules, 1975.  Hence no particulars are
 furnished in this regard.
 
 DIRECTORS1 RESPONSIBILITY STATEMENT
 
 Pursuant to the requirement under Section 217(2AA)of the Companies Act,
 1956 with regard to Directors Responsibility Statement, it is hereby
 confirmed :
 
 1.  that in the preparation of the accounts for the financial year
 ended 31 st March, 2005, the applicable accounting standards have been
 followed and there are no material departures;
 
 2.  that the Directors have selected such accounting policies and
 applied them consistently and made judgments and estimates that were
 reasonable and prudent so as to give true and fair view of the state of
 affairs of the Company at the end of the financial year and of the
 profit or loss of the Company for the year under review;
 
 3.  that the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act, 1956 for safeguarding the assets of
 the Company and for preventing and detecting fraud and other
 irregularities;
 
 4.  that the Directors have prepared the accounts for the financial
 year ended 31st March, 2005 on a going concern basis.
 
 FIXED DEPOSITS
 
 During the year, your Company has not accepted any Fixed Deposits. As
 reported last year, the Company had repaid all the fixed deposits and
 there were no overdue deposits other than unclaimed deposits.
 
 LISTING DETAILS
 
 The Equity Shares of your Company continue to be listed during the year
 under review at the following Stock Exchanges:
 
 1.  The Uttar Pradesh Stock Exchange Association Limited
 
 2.  The Stock Exchange, Mumbai
 
 3.  The Delhi Stock Exchange Association Limited
 
 AUDIT COMMITTEE
 
 The Audit Committee has reviewed the financial statements for the
 period ending 31st March, 2005 and has not given any adverse remarks.
 It has recommended the re-appointment of M/s. S.P. Nagrath & Co. as
 Statutory Auditors of the Company for another term.
 
 CORPORATE GOVERNANCE
 
 The Company has been proactive in following the principles and
 practices of good corporate governance. The Company has taken adequate
 steps to ensure that the conditions of Corporate Governance as
 stipulated in clause 49 of the Listing Agreements of the Stock Exchange
 are complied with. A report on the Corporate Governance duly certified
 by Statutory Auditors is enclosed and forms part of the Directors
 Report
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 In view of the nature of activities which are being carried on by the
 Company, Rules 2A and 2B of the Companies (Disclosure of Particulars in
 the Report of Directors) Rules 1988, concerning conservation of energy
 and technology absorption respectively, are not applicable to the
 Compjsnv
 
 During the year under review, foreign exchange earnings and outgo were
 nil.  ACKNOWLEDGMENT
 
 The Directors wish to thank the Government authorities, bankers, other
 business associates and shareholders for their unstinted support,
 assistance and valuable guidance.
 
                                     For & on behalf of the Board of 
                                     The Narang Industries Limited
 
                                           (Devmder Raj Narang)
                                            Managing Director
 
                                              (Masina Ram)
                                                Director
 New Delhi, 30th August, 2005
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `335 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `2409 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `4293 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1664 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `1753 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `912 Cr की खरीदारी
  • MARKET CUES : स्टॉक ऑप्शंस में `36 Cr की बिकवाली
  • JEFFERIES ON SUN PHARMA : BUY रेटिंग, लक्ष्य बढ़ाकर `530/Sh
  • CS ON SUN PHARMA : Neutral रेटिंग, लक्ष्य `400/Sh
  • CLSA ON SUN PHARMA : BUY रेटिंग, लक्ष्य घटाकर `560/Sh

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