ACME SPINNERS LIMITED
To the members
The Directors have pleasure in presenting the Second Annual report of the
Company together with the Audited statement of Accounts for the year ended
30th September, 1994.
The paid up share capital stands at Rs.245.64 Lakhs and there are calls in
arrears which are being reminded for payment.
Blow Room, Carding, Drawing, Simplex, Ring frames, Cone winding Machines
are received and are in the final stage of erection. The D.G.Set is also
received. The Company plans for the trial production by February,1995 and
the Commercial production by March, 1995.
Mr. K. S. S. Kumar and Mr. Chakkar Rao the Directors retire by rotation and
are eligible for re-appointment.
K. R. Srinivasan & Co Chartered Accountants retire at this AGM and are
eligible for re-appointment. The remarks of the Auditors in their report
are self explanatory.
Particulars of Employees:
No employee has drawn remuneration more than the limit stipulated under
section 217 (2A) of the Companies Act 1956.
Particulars of energy conservation:
The information as required under section 217(i) (e) of the Companies Act,
1956 are not applicable as the production is yet to commence.
The required staff and workers are recruited and the relations remain
The board place on record the appreciation of the confidence reposed by the
share holders in subscribing to the equity of the Company. The Company also
convey their sincere thanks to the Bankers viz, State Bank of India and
Syndicate Bank. The Board also place on record the help and Co-operation extended by the Government of Karnataka.
FOR AND ON BEHALF OF THE BOARD
Mr P.K. Pani
Place : Hyderabad
Date : 31st January, 1995