STOTZ - BLACKSMITHS LTD.
ANNUAL REPORT 1998-99
REPORT OF THE DIRECTOR'S TO THE MEMBERS:
Your directors are pleased to submit their thirteenth Annual Report
together with the audited statement at accounts for year ended on 31st Ma
In view of inadequate profit for the year under report your directors do to
not recommend any dividend.
In accordance with the provision of the Companies Act 1956 Dr.Swaran Arora
and Dr. T Krishnamurthy retire by rotation and are eligible for re-
appointment The resolutions pertaining to their re-appointment is put up
for your approval
M/s. I. G. Modi & Co. Chartered Accountants. Mumbai retire at the
conclusion of the ensuing Annual General Meeting and are eligible to re-
appointment as Auditors.
Your directors place on record their appreciation for the dedicated
services rendered by the employees at all levels in realising the
objectives of the company.
Information on particulars of the Employees Remuneration as per Section
217t2A) of The Companies Act. 1956 read with. The companies (particular &
employees) rules 197S has been not furnished since no employees received
the remuneration beyond the limits specified therein.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION ND FOREIGN EXCHANGE EARNINGS
a) Conservation of the energy and technology absorption.
The company operation involve very low energy consumption wherever possible
energy conservation measured have been implemented and there are no further
areas where energy conservation measures can he taken
b) Foreign Exchange Earning Outgoing
The company has not earned foreign exchange or outgoing
Your Board would like to place on records its Sincere appreciation for the
whole hearted support and Contribution made to all its employees from
across the company as well as various financial Institutions, Boards,
Supplies and other business associates towards the conduct of the efficient
operation of your company.
PLACE : MUMBAI By Order of the Board
(S. M. KHURANA)
DATED : CHAIRMAN