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D R Softech and Industries Ltd.

BSE: 521125 Sector: IT
NSE: DRIND ISIN Code: INE197B01014
BSE 05:30 | 01 Jan D R Softech and Industries Ltd
NSE 05:30 | 01 Jan D R Softech and Industries Ltd

D R Softech and Industries Ltd. (DRIND) - Director Report

Company director report

D. R. SOFTECH & INDUSTRIES LIMITED ANNUAL REPORT 2000-2001 DIRECTORS REPORT To, The Members, D. R. Softech & Industries Limited Ankleshwar. Your directors have pleasure in presenting 20th Annual report with Audited Statement of Accounts for the period ended 30th June, 2000. At the last Annual General Meeting then retiring auditors M. R. Choksi & Co. were reappointed as Auditors. Subsequently the management was informed by them their inability to continue as Auditors. So the Board of Directors have appointed D.M. Parekh & Co. to fill the said vacancy, Having practice since about 3 decades. The Company carried on the activities on a very limited scale due to non viability and uncertain market conditions. The activities was restricted to Job work due to non availability of working capital. FUTURE PROSPECTS: The Company has continued its efforts for establishment of strong footing in Software activities. Chairman & Managing Director who is NRI having wide contacts visited Atlanta, San Jose, Chicago, Miami-Florida, Rochester-M.N. and had fruitful negotiations with Pearinet, Norstan Inc., Primetech., Stsworidwide Inc, Klien Inc., IBM. The directors foresee good business prospects with the above referred Companies. Apart from diversification in Software the Directors are vigil about getting the opportunities for providing activities nin Textile as & when the times favourable. REFERENCE TO BIFR: The Companies reference to BIER under SICA has been registered and BOB has been appointed as Operating Agency. The Company is co-operating with BIFR and Operating Agency for early disposal of reference made. DIVIDEND: In view of losses the directors do not recommend any dividend for the year under review. DIRECTORS: The retiring director are eligible for reappointment and Board of directors recommend reappointment of retiring directors. AUDITORS: The retiring Auditors M/s. D. M. Parekh & Co. Chartered Accountants retire at ensuring Annual Genera! Meeting and being eligible offer themselves for reappointment. The directors recommend reappointment of Auditors. FIXED DEPOSITS: The company has not accepted any fixed deposits as per section 58A of the Companies Act, 1956. PERSONAL: Relations between Employees and Management remained cordial during the year. No employee is in receipt of remuneration in excess of limits prescribed in accordance with Section 217(2A) of the Companies Act 1956 read with Companies (particulars of Employees) Rules 1975 and details thereunder should be treated as nil. CONVERSION OF ENERGY. TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNING & OUTGO: The statement pursuant to section 217 (1)(e) of the Companies Ad 1956 read with Companies Disclosure of Particulars in report of Board of Directors) Rules 1988 is given as annexure forming part of the report. APPRECIATION: Your directors, place on record sincere gratitude to shareholders, financial institutions, bankers, business associates, celebrators, government agencies for cooperation. Directors are also happy to place on record appreciation for co-operation and support of staff members. Date: 5.12.2000 By Order of the Board Registered Office Dhirubhai Desai 26, Hajoori Chambers Chairman & Zampa Bazar, Surat Managing Director ANNEXURE TO THE DIRECTORS' REPORT TECHNOLOGY ABSORPTION AND INNOVATION Research and Development: Company has not undertaken any Research and Development activity during the year. Technology Absorption etc.: Not applicable FOREIGN EXCHANGE EARNING AND OUTGO: The foreign exchange earning and outgo during the year is NIL. Date: 5.12.2000 By Order of the Board Registered Office Dhirubhai Desai 26, Hajoori Chambers Chairman & Zamna Bazar. Surat Managing Director