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. () - Director Report

Company director report

OTOKLIN PLANTS & EQUIPMENTS LIMITED ANNUAL REPORT 1999-2000 DIRECTORS' REPORT To The Members of, OTOKLIN PLANTS & EQUIPMENTS LIMITED Your Directors have pleasure in presenting herewith Sixteenth Annual Report together with the audited Accounts of the Company for the year ended 31st March, 2000. The Operational and other Income of your Company has suffered considerable set back during the year under review on account of negative growth in the Capital Industry and Prevailing recession and fund crisis. DIRECTORS : Shri Vijay P. Mehta retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment. Shri Dhaval D. Jhaveri has been appointed as an Additional Director of the Company W.e.f. 30th August, 2000 and holds office upto the date of ensuing Annual General Meeting. His knowledge and contribution has benefited the Company and therefore, Board recommended his appointment at the ensuing General Meeting. AUDITORS : M/s. Vijay Mehta & Co., Chartered Accountants, Statutory Auditors of the Company, shall retire at the conclusion of the ensuing Annual General Meeting and being eligible, have offered themselves for reappointment. EMPLOYEES RELATIONS : Employees Relations were cordial throughout the year. The Directors express their warm appreciation to all the employees for their dedication and support. There are no employees covered under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975 as amended. Hence no particulars are given herewith. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION : A statement giving details of conservation of energy, technology absorption and foreign exchange earning and outgo in accordance with the companies (Disclosure of Particulars in the Report of Board of Directors), Rules, 1988 is se tout in ANNEXURE. ACKNOWLEDGMENTS : Your Directors are pleased to record their utmost gratitude towards Bank of Baroda, Statutory Auditors, Customers, Suppliers, Staff and our Esteemed Shareholders who remain associated with the Company even during all crisis and difficult period. For and on behalf of the Board DILIP K. JHAVERI Chairman & Managing Director Place: Mumbai Dated: 30th August, 2000 ANNEXURE TO THE DIRECTORS' REPORT (Particulars required by the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 and forming part of the Directors' Report for the year ended on 31st March, 2000) A. CONSERVATION OF ENERGY: Management is fully conscious of national economy and as such all efforts are continuously made for conservation of energy wherever possible, either by introduction of improved method of production, or otherwise. We are also contributing significantly towards conservation of energy by supplying improved systems and equipment resulting in saving of energy to the users. B. TECHNOLOGY ABSORPTION & EFFORTS MADE: RESEARCH & DEVELOPMENT: 1. Specific areas in which R & D carried out by the Company: The Company is currently carrying out research and development on improved design of Duplex Strainers/Filters and Catridge Filters. 2. Benefits Derived: Many turnkey projects have been executed with major indigenisation of the components and in some cases totally indegenised. e.g. Valveless Autowash Gravity Filters Automatic Self Cleaning Filters 3. Expenditure on R & D No separate R & D expenses have been incurred as the efforts are related to existing line of business. C. TECHNOLOGY ABSORPTION AND INNOVATION 1. The Company through its R & D efforts have made the significant improvements on the designs of various types of industrial filters and technology for Pipe coating is a new innovation for the Company. 2. Foreign Technology: The Company had bought into this country the best technologies many of them are for the first time, in different types of filteration and separation technology. The Company has made synergic agreements alliance with following reputed foreign company for bringing further technologies in liquid/solid filteration and separation and separation and pollution control. Sr. Name of the Products & Services No. Company 1. Huntington VOC/HAP Environmental Emission Control Nox Reduction, Odor Control, Soil and Ground Water Remediation. For and on behalf of the Board DILIP K. JHAVERI Chairman & Managing Director Place: Mumbai Dated: 30th August, 2000