SANYO IMPEX LIMITED
ANNUAL REPORT 2001-2002
M/S. SANYO IMPEX LTD.
1. Your Directors have great pleasure in presenting this 8th Annual Report
with the Audited Accounts of the Company for the year ended 31st March
During the year the export market for garments & commodities is not
favorable. The company during the year has Indulged in domestic market
trade and this but resulted in a decrease in the turnover of your company.
Your Directors do riot recommend any dividend during the year under review
due to losses.
As per Section 255 of the Companies Act, 1956 read with Articles 90-91 of
the Article of Association Mr. Rajiv Mohan Agarwal - Director retire by
rotation at the ensuing Annual General Meeting and being eligible offers
himself for reappointment during the year
M/s. JPS & Co. Chartered Accountants retire at the ensuing Annual General
Meeting being eligible offer them self for reappointment. The observations
made by the auditors are self explanatory and have been dealt with in the
notes vide Schedule No. 16 forming part of the accounts and hence need no
6. DIRECTORS RESPONSIBLILITY STATEMENT.
Pursuant to section 217(2AA) it is hereby stated that in the preparation of
the Annual Accounts, the applicable accounting standards have been
followed. The Director's have selected such accounting policies and applied
them consistently and made judgements and estimates, they are reasonable
and prudent so as to give a true and fair view of the state of affairs of
the company at the end of financial year and of the profit or loss of the
company for that period. The Director's have taken proper and sufficient
care for the maintenance of adequate accounting records in accordance with
the provisions of this act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities. Further the
Director's have prepared the annual accounts on a going concern basis.
7. FOREIGN EXCHANGE EARNINGS AND OUTGO.
During the year, the total foreign exchange outgo and foreign earnings were
8. ENERGY CONSERVATION AND TECHNOLOGY ABSORPTION.
The activities of the company do not require power and energy and as such
these provisions are not applicable to the company.
9. PARTICULARS OF EMPLOYEES
The management employee's relations remained cordial throughout the year'.
The Directors wish to place on record their deep appreciation for the
dedicated and loyal services rendered by the officers, staff and workers of
the company. None of the employee is in receipt of remuneration exceeding
the limits as prescribed Under Section 217(2A) of the Companies Act 1956
during the year under review.
10. PUBLIC DEPOSITS.
Your company has not accepted any fixed deposits as per section 58A of the
Companies Act, 1956 and the rules made thereunder.
Your Directors acknowledge with gratitude, the co-operation extended by
bankers, business associates, ex-directors and shareholders and
encouragement and contribution made by the employees at all levels.
By order of the Board of Directors
For SANYO IMPEX LIMITED
S.M.AGARWAL - Chairman cum Managing Director
R.M. AGARWAL- Director
Place: New Delhi
Date : 2.09.2002