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Alang Industrial Gases Ltd.

BSE: 531517 Sector: Industrials
NSE: N.A. ISIN Code: INE848C01010
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Alang Industrial Gases Ltd. (ALANGINDLGAS) - Director Report

Company director report

Directors Report

To

The Members

Alang Industrial Gases Ltd.

Your Directors have pleasure in presenting the Annual Report together with the AuditedStatement of Accounts for the year ended 31st March 2014.

FINANCIAL RESULTS:

The summarized financial results for the year ended 31st March 2014 are as under:

(Amount in Rs.)

Particulars 2013-2014 2012-2013
1. Profit before Interest Depreciation and Tax (69111) (69000)
2. Interest -- --
3. Depreciation -- --
4. Profit (Loss) Before Tax (69111) (69000)
5. Provision for taxation -- --
6. Profit (loss) after Tax (69111) (69000)

DIRECTORS :

Mr. Dilip B. Sheth Director of the company is retiring by rotation and being eligibleoffered himself for reappointment. Board recommends his reappointment.

It is proposed to appoint as independent directors for five consecutive years for aterm upto March 31 2019 as per provisions of Section 149 and other applicable provisionsof the Companies Act 2013.

All the directors of the Company have confirmed that they are not disqualified frombeing appointed as directors in terms of Section 274(1)(g) of the Companies Act 1956. TheCompany has received declarations from all the independent directors confirming that theymeet with the criteria of independence as prescribed both under sub-section (6) of section149 of Companies Act 2013 and under Clause 49 of the Listing Agreement with the StockExchanges.

DIVIDEND :

Your director do not recommend dividend for the year.

FIXED DEPOSITS:

The company has not accepted the public deposits during the year under report.

AUDITORS :

Vishves A. Shah & Co. Auditors of the Company retires at the conclusion of thisAnnual General Meeting and being eligible are recommended for reappointment.

AUDITORS REPORT:

The Auditors report is self-explanatory and so far there is no negative remark by theAuditors.

DIRECTORS RESPONSIBILITY STATEMENT :

Pursuant to the requirement under section 217 (2AA) of the Companies Amendment Act2000 with respect to Director Responsibility Statement it is hereby confirmed:

1. That in the preparation of the annual accounts for the financial year ended 31stMarch 2014 the applicable accounting standards had been followed along with properexplanation relating to material departures.

2. That the directors had selected such accounting policies and applied themconsistently and made judgments and estimates that were reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit of loss of the Company for the year under review.

3. That the directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provision of the Companies Act 1956for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

4. That the directors had prepared the accounts for the financial year ended 31stMarch 2014 on a going concern basis.

MANAGEMENT DISCUSSION & ANALYSIS :

The Management Discussion and Analysis Report is attached herewith and forms part ofthe Director Report.

CORPORATE GOVERNANCE :

As per Clause 49 of the Listing Agreement with the Stock Exchanges a separate sectionon Corporate Governance together with a certificate from the Company's Auditors confirmingcompliance there to is set out in the Annexure forming part of this report.

LISTING:

The shares of the Company are listed on Ahmedabad and Bombay Stock Exchange Limited.Company has paid the necessary Listing fees to the exchange.

PARTICULARS OF THE EMPLOYEES :

The Company has no employee to whom the provision of Section 217(2A) of the CompaniesAct 1956 read with the Companies (Particulars of Employees) Rules 1975 apply and so itis not applicable to the company.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUT GO:

As there is no activities in the Company the additional information required underSection 217(1)(e) of the Companies Act 1956 relating to Conservation of energytechnology absorption is not applicable to the company. There was no any foreign exchangeearnings or outgoes.

ACKNOWLEDGMENT :

The Directors wish to thank and deeply acknowledge the cooperation and assistancereceived from the Bankers Suppliers and shareholders. The Director also wishes to placeon record their appreciation of the devoted services of employees of the Company.

By Order of the Board

Sd/-

Dilip B. Sheth

Chairman

Date : 28.05.2014

Place : Bhavnagar

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