ANNUAL REPORT 1998-99
C S J AGROS LIMITED
Your Directors have the pleasure in presenting the FIFTH ANNUAL REPORT
along with Audited Balance Sheet of your company for the year ended 31st
PROGRESS OF THE PROJECT
You are aware that the Company is setting a 100% EOU Floriculture project
of cut flower roses under controlled temperature conditions. As envisaged
in the means of finance the company was sanctioned term loans of Rs. 300
Lakhs by State Bank of India, Agri Business Branch and Rs. 100 lakes by
national Horticulture Board (NHB). The Bank is yet to LC's and release
funds for the project. The existing site of the project is posing heavy
threat of pollution and the company has decided to change the site to an
non-polluted location and alternative site already located, consequently
the company has proposed to dispose the site.
Sri. C.L. JAISINHA retire by rotation at the forthcoming Annual General
Meeting kin accordance with Article 132 of the Articles of Association of
the Company and being eligible offers himself for re-appointment.
The Company has not accepted any deposits from the public.
M/s. M. R.K. Reddy & Co. Chartered Accountants, the Company's Auditor
retire at the conclusion of this Annual General Meeting. They have
submitted their willingness for the re-appointment and have further
confirmed their eligibility U/s.223 (1B) of the Companies Act, 1956.
In accordance with the provisions of Section 217 (2A) of the Companies Act,
1956, read with the companies (Particulars of Employees) Rules, 1975, your
Directors report that there are no employees covered by this section.
The Company not yet started the actual commercial production, inclusion of
particulars for the conservation of energy and technology absorption as
required under the Companies (Disclosures of particulars in the report of
the Board of Directors) Rules, 1988 does not arise.
BOARD OF DIRECTORS
2nd September, 1999.