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Intecon (India) Ltd.

BSE: 512541 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Intecon (India) Ltd. (INTECONINDIA) - Director Report

Company director report

1996 INTECON (INDIA) LIMITED DIRECTOR'S REPORT The Directors have pleasure in presenting the Thirteenth Annual Report on the business operations of the company and the Audited Statement of Accounts for the period ended 31st March, 1996. RESERVES Since the company has suffered loss, no amount has been carried forward in reserves to the Balance Sheet. DIVIDEND Since the financial position of the company is deterioting, no dividend for payment has been recommended. OUTLOOK FOR THE PERIOD UNDER REVIEW AND FUTURE STRATEGY During the period under review the company has launched few new models of Toys which will benefit us in the coming year. The Telecom order, which was awarded to the company by the Department of Telecommunication (DoT) to the tune for Rs. 9.32 crores, is being executed in the current year. FOREIGN EXCHANGE INFLOW & OUTFLOW The company used foreign exchange to the extent of Rs. 4.68 Lacs for import of raw materials and Rs. NIL Lacs on foreign travels during the period under review. There is no foreign exchange inflow during the year. ABSORPTION OF TECHNOLOGY Company has not imported any technology during the period under review. CONSERVATION OF ENERGY Every effort has been made by the company for conservation of the energy. PARTICULARS OF EMPLOYEES Pursuant to tile requirement of Section 217(2-A) of the Companies Act, 1956 read with Companies Particulars of Employees Rules 1975, the particulars of the employees who are drawing remuneration Rs.25,000/- and above per month is NIL. DEPOSITS The company has neither invited nor accepted any deposits from the public during the period under review. DIRECTORS Shri Rajeev Shukla, Managing Director and Shri B. S. Jain, Jt. Managing Director, Shri. Ram Singh, Nominee Director and Shri Praveen Shukla, Director continued to hold their office throughout the year. Shri Bharat Bhushan Mittal was appointed as an Additional Director on 2nd January, 1996 and his appointment on regular basis will be considered at the Annual General Meeting. Shri. B.S. Jain will retire at the Annual General Meeting being eligible offers himself for re-appointment. CHANGE OF ACCOUNTING YEAR The Company has decided that the financial year of the company is changed to the period fm 1st July, 1995 to 31st March, 1996 (both days inclusive) and that "Subsequent Financial Year" of the company be changed to a period of one calendar year beginning from 1st April of one year and concluding on 31st March of the subsequent year. AUDITORS M/s. Gambhir Nanda & Associates, Chartered Accountants, the retiring auditors are eligible for re-appointment. M/s. Gambhir Nanda & Associates have under Section 224 (1) of the Companies Act. 1956 furnished a certificate of their eligibility for re-appointment. LABOUR RELATIONS Relations between Labour and management remained very cordial throughout the year. ACKNOWLEDGEMENTS The Directors wish to place on record their gratitude and deeply acknowledge the assistance extended by the U.P. State Government, Financial Institutions and Company's Bankers. The Directors appreciate the dedicated and sincere service of the employees of the company during the year. for and on behalf of the Board (Rajeev Shukla) (B.S. Jain) Managing Director Jt. Managing Director Place : New Delhi Dated : 26th August, 1996.