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Saatal Kaatha & Chemicals Ltd.

BSE: 526811 Sector: Others
NSE: N.A. ISIN Code: N.A.
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Saatal Kaatha & Chemicals Ltd. (SAATALKAATHA) - Director Report

Company director report

SAATAL KATTHA & CHEMICALS LIMITED ANNUAL REPORT 1999-2000 DIRECTOR'S REPORT REPORT TO THE MEMBERS Your Directors have pleasure in presenting the 20th Annual Report and the Audited Accounts for the year ended 31st March, 2000: 2. DIVIDEND: In view of inadequacy of profit, your directors do not recommend the dividend for the year. 3. LISTING: Your Company's Shares are listed in the Stock Exchanges of Indore, Bombay, Calcutta, Madras & Ahmadabad. Regarding listing at stock exchange at Delhi the company has filed L.P.A. before the H'ble High Court of M.P.bench at Indore against the judgement and order of the H'ble single judge of this High Court dt.19.3.98, in the matter of order passed by Securities & Exchange Board of India [SEBI] against the appeal of the company filed U/s 22 of SCR Act,1956. The matter is pending for decision by the H'ble High Court. The Company has made no default in the payment of the Listing Fee. 4. DIRECTORS: In accordance with the provisions of the Companies Act, 1956 and the Articles of Association of the Company, Mr. P.D. Rathi and Mr.R.M. Satal retire by rotation and being eligible offer themselves for re-appointment. 5. AUDITOR'S REPORT: The notes on accounts, refered to in the Auditor's Report,are self explanatory and therefore,do not call for any further comments on the Auditor's Report U/s 217 (3) of the Companies Act,1956. 6. AUDITORS: M/s. Sodani & Company,Chartered Accountants, Ujjain, Auditors of the Company ceases to hold their office as Auditors at the end of this Annual General Meeting and being eligible, offer themselves for re-appointment for the year 2000- 2001. 7. FIXED DEPOSITS: The Company has not offered for acceptance of deposits during the year under review . 8. Y2K COMPLIANCE: The Company has achieved Y2K compliance with no disruption in any of its operations. 9. INDUSTRIAL RELATIONS: The relations between the Management, Employees and Workers continue to be cordial. 10. PARTICULARS OF EMPLOYEES: As required under sub-section 2A of Section 217 of the Companies Act, 1956 read with the Companies (Particulars of Employees)Rules 1975 there is no such employees who were in receipt of remuneration of not less than Rupees Fifty Thousand per month, if employed for part of the financial year or Rupees Six Lacs per financial year, if employed throughout the financial year. 11. ANNEXURE TO THE DIRECTORS' REPORT Information under section 217 (1) (e) of the Companies Act, 1956 read with 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 31st March, 2000 are as under :- (A) CONSERVATION ENERGY The Company has been continuously making efforts through its dedicated team to achieve high productivity and efficiency. a) Energy conservation measures taken : NIL b) AdditionaL investments and schemes being implemented : NIL c) Impact of measures (a) & (b) above : N.A. (B) TECHNOLOGY ABSORPTION RESEARCH & DEVELOPMENT: a) Specific areas in which R&D carried out by the Company: Development activities of the Company are directed towards quality improvement and reduction of production cycle. b) Benefits derived as a result of the above R&D The results of quality improvement measures and reduction of production cycle was very enthuastic during the year. c) Future plan of action: To continue R&D work on the above areas. 2. TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION: a) Efforts in brief & benefits derived: Continuous efforts are being made to adopt modern technology resulting to this productivity & quantity of the products improved. b) Details of technology imported during the past 5 years: a) Technology imported b) Year of import c) Has technology been fullY absorbed? No technology has been imported during the past 5 years. d) If not fully absorbed ----do------ areas where this has not taken place (C) FOREIGN EXCHANGE EARNINGS AND OUTGO: Activities relating to exports: The company is exporting cutch to Neighbouring countries. 3. APPRECIATION: Your Directors would like to place on record their sincere gratitude to the shareholders, Bankers, Business Associates, Pan Masala Manufacturers, Forest Department of Government of Madhya Pradesh and Customers both Domestic & Overseas for their continued support and faith in the company. Your Director are also happy to place on record their appreciation for the wholehearted co-operation, commitment and contribution made by all the staff members of "SAATAL" family and look forward to their continued support. By order of the Board For SAATAL KATTHA & CHEMICALS LTD. Place: Indore (H.C. RATHI) Dated: 31/07/2000. Managing Director