GLORIA LEASING LIMITED
The Directors of GLORIA LEASING LIMITED welcome the members to the ELEVENTH
ANNUAL GENERAL MEETING and have pleasure to present the Annual Report and
Audited Account for the year ended 31st March, 1996.
Although the company has made some profit, no dividend is recommended for
the year 1995-96, as the company needs to conserve resources.
Current Working :
During the year under review the company undertook trading activities in
various Yarns and Fabrics. The company notched a Sale of Rs. 895.34 lacs
despite heavy odds. It is expected that hereafter trading activity will
prove to be more profitable.
PARTICULARS OF EMPLOYEES :
There was no employee drawing over Rs. 1,44,000 per year or employed for a
part of the financial year with aggregate remuneration of Rs. 12,000/- per
As per the provisions of the Companies Act, 1956, Mr. M.K. Nanda who retire
by rotation and being eligible offer himself for re-appointment.
The Statutory Auditors M/s. Mehra Saxena & Associates, Chartered
Accountants, retire at the end of this meeting, but being eligible are
being recommended for reappointment. They have furnished a Certificate u/s
224(1B) of the Companies Act, 1956.
ENVIRONMENT AND ENERGY CONSUMPTION :
These are not applicable to this Company, being a Finance Company.
PUBLIC DEPOSITS :
The Company has not public deposit.
By Order of the Board of Directors
For GLORIA LEASING LIMITED
Place : Mumbai
Dated : 27th November, 1996.