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Osho Ceramics Ltd.

BSE: 515095 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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Osho Ceramics Ltd. (OSHOCERAMICS) - Director Report

Company director report

Annual Report 1999-2000 OSHO CERAMICS LIMITED DIRECTORS' REPORT TO THE MEMBERS Your Directors have pleasure in presenting the Tenth Annual Report on the affairs of the company and Audited Accounts of the Company for the year ended 30th June, 2000. OPERATIONS AND FUTURE OUTLOOK: During whole of the financial year 999-2000, the plant of the Company remained closed. The Company has been referred to BIFR as a Sick Company and its case had been registered at srl. No. 16/99 dated 10.06.1999. The BIFR had appointed IDBI as the Operating Agency to make an inquiry and suggest the measures for the revial of the Company upto March, 2001. The Company is continuously in touch with the Operating Agency and the BIFR. Your Directors believe that a suitable revial package for the Company will be approved by BIFR and the Company will be able to re-start its operations. DIRECTORS: In accordance with the requirements of the Company Act, 1956, and pursuant to the provisions of the Articles of the Association of the Company, two of your Directors Mr. Praveen Rohtagi and Mr. Rakesh Chawla retire by rotation at the ensuing Tenth Annual General Meeting and being eligible. offer themselves for reappointment. AUDITORS: M/s. S. C. Thakral & Co., Chartered Accountants, the present Auditors of the company, retire at the forthcoming Tenth Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received a notice from them to the effect that their appointment if made would be within the limits prescribed under Section 224 (1 B) of the Companies Act, 1956. PUBLIC DEPOSITS: The Company has not invited or accepted any deposits from the public during the year. PERSONNEL: None of the employee of the Cornpany is in receipt of a remuneration in excess of the limits specified under sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules,1975. DISCLOSURES: (a) As the unit remained closed during whole of the financial year 1999- 2000, the provisions of Section 217 (1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 pertaining to the information relating to conservation of energy and technology absorption are applicable to the Company. (b) Foreign Exchange Earnings And Outgo: - Foreign Exchange Earnings / Receipt Nil - Foreign Exchange Outgo Nil AUDITORS' REPORT The remarks made by the Auditors in their Report have been suitably dealt with in the Schedules and Notes and therefore do not call for any further clarification. ACKNOWLEDGMENTS: The Board wishes to place on record its appreciation for the cooperation and assistance received from the participating Banks, IDBI, various Agencies of Central and State Government and the BIFR. The Board also wishes to place on record its sincere appreciation of the total commitment, dedication and hard work put in by the employees of the company. The Board also thanks the shareholders for their continued valuable support. For and on behalf of the Board (Dr. P.R. GOYAL) DATE: 27-11-2000 CHAIRMAN