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Acme Spinners Ltd.

BSE: 514342 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Acme Spinners Ltd
NSE 05:30 | 01 Jan Acme Spinners Ltd

Acme Spinners Ltd. (ACMESPINNERS) - Director Report

Company director report

1994 ACME SPINNERS LIMITED DIRECTORS REPORT To the members The Directors have pleasure in presenting the Second Annual report of the Company together with the Audited statement of Accounts for the year ended 30th September, 1994. Share Capital: The paid up share capital stands at Rs.245.64 Lakhs and there are calls in arrears which are being reminded for payment. Progress: Blow Room, Carding, Drawing, Simplex, Ring frames, Cone winding Machines are received and are in the final stage of erection. The D.G.Set is also received. The Company plans for the trial production by February,1995 and the Commercial production by March, 1995. Directors: Mr. K. S. S. Kumar and Mr. Chakkar Rao the Directors retire by rotation and are eligible for re-appointment. Auditors: K. R. Srinivasan & Co Chartered Accountants retire at this AGM and are eligible for re-appointment. The remarks of the Auditors in their report are self explanatory. Particulars of Employees: No employee has drawn remuneration more than the limit stipulated under section 217 (2A) of the Companies Act 1956. Particulars of energy conservation: The information as required under section 217(i) (e) of the Companies Act, 1956 are not applicable as the production is yet to commence. Industrial Relations: The required staff and workers are recruited and the relations remain cordial. Acknowledgment: The board place on record the appreciation of the confidence reposed by the share holders in subscribing to the equity of the Company. The Company also convey their sincere thanks to the Bankers viz, State Bank of India and Syndicate Bank. The Board also place on record the help and Co-operation extended by the Government of Karnataka. FOR AND ON BEHALF OF THE BOARD Mr P.K. Pani (Managing Director) Place : Hyderabad Date : 31st January, 1995