NEXUS SOFTWARE LIMITED
Nexus Software Limited,
Your Directors have pleasure in presenting the Audited Accounts of the
Company for the year ended 31st March,2000.
Your directors are pleased to inform you that during the year the income
from operation and from other sources has increased to Rs.824 Lacs as
against the income of Rs.39.00 Lacs of the previous year. The company has
been able to make Net Profit of Rs. 45.00 Lacs after depreciation. ~s
reported earlier the work of starting Computer Education Centre in all the
metropolitan Cities of Gujarat, Maharashtra and Karnataka are in progress
and your directors are hopeful to start the same in near future. Looking to
the present trend in the software and information technology sector, your
directors expect to come out with the better performance in the current
The proposal to allot shares for augment of the long term capital on right
issue basis was dropped in view of the lengthy procedure and heavy
expenses. Your company however made preferential allotment of 55.00 lacs
equity shares of Rs.10/- each at premium of Rs.22/- per share in accordance
with the guide lines issued by SEBI.
The industrial relations during the year under review were cordial.
The retiring Auditors of the company M/s. Mahendra P. Shah & Co. Chartered
Accountants retires by rotation and offers themselves to reappointment as
Auditors of the company to hold office as such from the conclusion of the
ensuing Annual General Meeting upto the conclusion of next Annual General
Meeting. Your directors recommend their appointment.
As regards the observations of the Auditors in their report, the relevant
notes on the accounts are self- explanatory. The Company expects to employ
a qualified Company Secretary within few months.
The information pertaining to conservation of energy, technology
absorption, foreign exchange earning and outgo forming part of this report
is annexed. There were no employees whose particulars are required to be
furnished under Section 217(2A) of the Companies Act,1956.
The Board acknowledge the valuable support and co-operation of the various
Government Agencies financial institutions, Banks, Customers, Suppliers,
Shareholders and Employees of the Company and look forward to their
On Behalf of the Board
Place: VADODARA Chairman