GOLDEN SOYA LIMITED
Your Directors present herewith the FIFTH ANNUAL REPORT along with the
Audited Statement of Accounts for the year ended 31st March, 1996.
Your Directors regret to inform that due to non- availability of Soya seeds
at reasonable price mainly due to Crop failure, Company could not commence
commercial production. Procuring of raw material at the prevailing
prohibitive cost is not congenial for a nucleus set up and in view of the
same the Company thought it prudent to defer production till the market
Company has not commenced commercial activities during the period under
review and no Profit and Loss Account has been prepared for the period
Consequently. all expenses have been shown under the head "Pre- operative
PARTICULARS OF EMPLOYEES:
There were no employees within the preview of Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
The Company has not accepted any public deposit.
Shri O.P. Agarwal, Director retires by rotation at the conclusion of the
ensuing General Meeting and being eligible offers himself for
M/s. Mehra Saxena & Associates, Chartered Accountants, retire at the
conclusion of the Fifth Annual General Meeting and being eligible offer
themselves for reappointment. As required under Section 224(1) of the
Companies Act, 1956 a certificate has been received from M/s. Mehra Saxena
& Associates stating that their appointment, if made, will be in accordance
with Section 224(1-B) of the said Act.
For and on behalf of the Board
For GOLDEN SOYA LIMITED
Place : Mumbai
Dated : 29th November, 1996.