Annual Report 1998-99
ALANG MARINE LIMITED
TO THE MEMBERS,
Your Directors have great pleasure in submitting 11th Annual Report with
Audited Statement or accounts for the year ended 31st March 1999.
Due to inadequate profit, the Directors regret their inability to recommend
dividend for the year.
The Company has not accepted any fixed deposit during the period under
review. Therefore no unclaimed deposit is outstanding as on 31st March
Your company has actively addressed the Y2K problem since beginning of the
year 1999 and all computers have been upgraded at the level of hardware and
operating system to be Y2K compliant. The cost involved in addressing the
Y2K problem is estimated at Rs. I .55 lacs.
PARTICULARS OF EMPLOYEES
The Board of Directors wish to place on record its sincere appreciation for
the work done by the employees. Information as per Section 217(2A) of the
Companies Act, 1956, read with Companies (Particulars of Employees) Rules,
1975 is 'NIL'.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING
The information required under Section 217(1) (e) of the Companies Act,
1956 read with the companies (disclosure of particulars in the report of
Board of Directors) rules 1988 with respect to companies (disclosure of
particulars in the report of Board of Directors) rules 1988 with respect to
conservation of energy, technology absorption etc. is not applicable to the
company as company is not a manufacturing company.
Auditors of the company M/s. Hariyani & Co., Chartered Accountants will
retire at the conclusion of ensuing Annual General Meeting and they being
eligible offer themselves for reappointment.
Your Directors place on record their appreciation of the support received
from Oriental Bank of Commerce and also other Business Associations.
For and on behalf of the Board
For ALANG MARINE LIMITED
Dr. Maheboob R. Asaria (Debashis Bir)
Place : Bhavnagar Managing Director Managing Director
Date : 15.11. 99 (Finance) (Technical)