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साउदर्न शेलटर्स लिमिटेड निदेशकों की रिपोर्ट, साउदर्न शेलटर्स लिमिटेड निर्देशकों द्वारा रिपोर्ट

साउदर्न शेलटर्स लिमिटेड

बीएसई: 523774  |  NSE: N.A  |  ISIN: INE271F01018  |  Construction & Contracting - Housing

खोजें साउदर्न शेलटर्स लिमिटेड कनेक्शन
निदेशकों की रिपोर्ट वर्षांत : Mar '02
Your Directors have pleasure in presenting the Tenth Annual Report on
 the working of the Company along with the Audited Balance Sheet and
 Profit and Loss Account for the year ended 31st March 2002.
 
 FINANCIAL RESULTS
 
                                                           (Rs. in Lacs)
                                                   2001-2002   2000-2001
 
 Sales and Other income                               484.03      325.74
 
 Profit before Tax                                      0.35        0.21
 
 Profit after Tax                                       0.35        0.21
 
 Balance of Profit b/f from previous year              20.75       20.59
 
 Income Tax relating to Earlier year                    0.37        0.05
 
 Balance carried to Balance Sheet                      20.73       20.75
 
 OPERATIONS
 
 The Company has continued its successful construction activity at
 various locations of Chennai Viz., Porur (Kattupakkam) and Manappakam.
 The Company has also planned to sell plots at Sakthi Nagar and
 Nemilicheary.
 
 WORKINGS
 
 The Company has achieved marginal profits even under the current
 recessionary trend. The company has implemented software projects to
 support the workings of the company.
 
 FUTURE PLAN
 
 The company proposes to identify new locations for construction as well
 as to sell plots. Further, the software activity is planned to be
 expanded to derive benefits thereon for the company.
 
 Information Pursuant to Section 217(1)(E) of the Companies Act, 1956,
 read with Companies (Disclosure of particulars in the Report of Board
 of Directors) Rules, 1988.
 
 A. CONSERVATION OF ENERGY
 
 The Companys main activities are construction and development of flats
 and are labour intensive. Use of power is restricted only for
 site-lighting and running of motors/concrete mixers. Energy consumption
 is therefore negligible. The Software development activities also does
 not involve considerable power consumption.
 
 B. TECHNOLOGY ABSORPTION
 
 The activities of Company do not involve hiring of outside technology
 and therefore the question of technology absorption does not arise.
 
 C. FOREIGN EXCHANGE EARNINGS AND OUTGO
 
 There has been no transaction during the year under consideration.
 
 Information pursuant to Section 217(2A) of the Companies Act 1956, read
 with the Companies (particulars of Employees) Rules 1975, is not
 applicable as no employee has drawn or has been paid salary beyond the
 prescribed limit.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 The Directors confirm:
 
 (i) that in the preparation of Annual Accounts, the applicable
 accounting standards have been followed except the Accounting Standard
 22 - Accounting of Taxes on Income vide Note No. A(14) of Schedule M
 and that no material departures have been made from the same.
 
 (ii) that they have selected such accounting policies and applied them
 consistently and made judgments and estimates that are reasonable and
 prudent so as to give a true and fair view of the state of affairs of
 the company for that period.
 
 (iii) that they 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 for preventing and detecting fraud and other
 irregularities.
 
 (iv) that they have prepared the annual accounts on the going concern
 basis.
 
 CORPORATE GOVERNANCE:
 
 The Company is taking effective steps to comply with ensuing changes in
 clause 49 of the listing Agreement with respect to the Corporate
 Governance.
 
 ADDENDUM TO AUDITORS REPORT
 
 1. Note No. A (2) of Schedule `M:
 
 The point is self explanatory.
 
 2. Note No. A(6)(c) of Schedule `M:
 
 The point is self explanatory.
 
 3. Note No. A(7) of Schedule `M
 
 The point is self explanatory.
 
 4. Note No. A(8) of Schedule `M
 
 The Company is taking steps in this direction for necessary compliance
 
 5. Note No. A(9) of Schedule `M
 
 Loan by the Director during the year represents the initial sums
 advanced by him to meet the working capital requirements. Since the
 loan is interest free, it is considered beneficial to the Company by
 the Board of Directors.
 
 6. Note No. A(14) of Schedule `M
 
 The point is self explanatory.
 
 7. Note No. B(1) of Schedule `M
 
 The company had already received confirmation from certain parties for
 the steps initiated for getting confirmation from the various parties.
 It is hopeful of getting confirmatory reply from the other parties to
 the letters already sent in April 2002.
 
 DIRECTORS
 
 Mr. R. Rajasankar and Mr. S. A. Krishnan, Directors of the Company
 retire by rotation and offer themselves for reappointment by election.
 
 The Company notes with regret the demise of the Director, Mr. S.
 Nageswaran. The Company recalls the great contribution made by the late
 Director and convey its heart felt condolences to the bereaved family.
 
 SHARE TRANSFER AGENT:
 
 Further to the Compulsory Dematerialsation of shares, the Company has
 appointed M/s. Trident Investment And Portfolio Services (P) Limited
 as Share Transfer Agents of the Company with effect from 11.3.2002
 
 AUDITORS
 
 M/s. Krishnan & Sekaran, Chartered Accountants, Chennai hold office
 till the conclusion of this General Meeting and have expressed their
 willingness to continue in office if appointed. A certificate to the
 effect that, if appointed, such appointment will be within the limits
 under Section 224(1 B) of the Companies Act, 1956, has been obtained
 from the Auditors.
 
 GENERAL
 
 The Directors wish to place on record their appreciation of the support
 and co-operation they have received from Banks, Shareholders and
 employees at all levels.
 
                                                   By Order of the Board
 
 Chennai                                                   D. RAVISANKAR
 31.08.2002                                                     Director
स्रोत: रेलीगरे टेचनोवा

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