Incorporated Engineers Ltd.
||ISIN Code: INE801D01017
05:30 | 01 Jan
Incorporated Engineers Ltd
05:30 | 01 Jan
Incorporated Engineers Ltd
Incorporated Engineers Ltd. (INCENGINEERS) - Director Report
Company director report
ANNUAL REPORT 1998-99
INCORPORATED ENGINEERS LIMITED
Your Directors present herewith their Report for the year ended 31.03.1999.
OUTLOOK FOR THE CURRENT YEAR
Although there is an overall adverse scenario, the Company could bag orders
worth about Rs 4 Crores and more Orders are under finalisation. Your
Directors therefore are hopeful of having better results next year.
As reported last year, Award of an Arbitrator for settlement of dues of one
of the major contracts has been received and the same is now pending before
the Hon'ble High Court at delhi for its confirmation.
The Company has already initiated dialogues with both the Financial
Institutions i.e.BOIMF AND IFCI for One time Settlement of its
outstanding. The negotiations are on the final stage . With the approval
to this OTS, the interest burden will be negligible for the early years.
Further, the Company has given a proposal to its Bankers for enhancement of
various facilities. But due to the Overdues in DL and IBR, they can't
process the same. The Company has also given a proposal to the Bankers for
clearance of the said overdues.
Mr M.D.Holden and Mr.N.Roy retire by rotation and being eligible offers
for themselves for re-appointment.
PARTICULARS OF EMPLOYEES
Particulars pursuant to the provisions of Section 217( 2AO) of the
Companies Act,1956 is given under annexure -a herein which forms part of
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND ADAPTATION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO:
The information required under Section 217(1)(e) of the Companies Act,1956
read with the Companies (Disclosure of Particulars in the Report of the
Board of Directors) Rules, 1988 with respect to the conservation of energ,
technology and adapatation and foreign exchange earnings and outgo is
appended hereto as annexure -b which forms part of this report.
The Auditors of the Company M/s J.G.Dalal & Company , Chartered
Accountants, Mumbai retire at the Forthcoming annual general meeting but
are eligible for re-appointment.
The Bankers places on record its appreciation to its Employees,Bankers,
Financial Institutions , Mutual Funds and Asssociates for their continued
support and co-operation extended to the Company.
For and on behalf of the Board of Directors
Date : 10.08.1999.
Information required under the Companies (Disclosure particulars in this
Report of the Board of Directors) Rules,1988
A.CONSERVATION OF ENERGY
Efforts are always made to reduce the consumption of energy although the
Company is not a power intensive unit.
Form of Disclosure of Particulars with respect to Absorption of Technology
,Research & Development (R & D)
1. Specific areas in which
R & D carried out by the Company ) The Company has entered into several
2. Benefit derived as a )technical collaboration and as such
result of the above R & D ) has not established any major R & D
3. Future plan of action. )centre. However from time to time it has
4. Expenditure on R & D )been trying to improvise the Indian
) conditions and need.
TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION:
1. Efforts in brief made toward technology absorption adapatation and
innovation :- Please refer "Research and Development".
2. Benefits derived as a result of the above efforts eg product
improvement , cost reduction , product development , import substitutions
etc:- Benefits from the above is mainly of cost savings, improved sales and
3. In case of imported technology (imported during the last 5 years
reckoned from the beginning of the financial year)following information may
a. Technology imported : During last five years the Company
has finalised few of the Technical
Collaboration for its major
b. Year of import : 1994-95
c. Has technology been fully
absorbed : ?
since most of the items are tailor made design & engineering etc is made
separately for each project. As such the absorption of technology is on
case to case basis.
d. If not fully absorbed areas where this had not taken place and reasons
thereof and future plan of actions.
Please refer (c) above.
C. FOREIGN EXCHANGE EARNINGS & OUTGO:
The information containing foreign exchange earnings and outgo is given in
the notes of accounts.
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