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Energy Products (I) Ltd.

BSE: 531620 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE718D01013
BSE 05:30 | 01 Jan Energy Products (I) Ltd
NSE 05:30 | 01 Jan Energy Products (I) Ltd

Energy Products (I) Ltd. (ENERGYPRODUCTS) - Director Report

Company director report

ENERGY PRODUCTS (INDIA) LIMITED ANNUAL REPORT 2010-2011 DIRECTOR'S REPORT To, The Members of ENERGY (PRODUCTS (INDIA) LIMITED Surat Your directors have pleasure in presenting their 16th Annual Report and the audited statement of accounts for the year ended on 31st March, 2011 together with the auditors report thereon. The directors give hereunder their report with respect to the matters specified in section 217 of The Companies Act 1956. 1. State of Affairs of The Company During the year under review the company did not carried any business operations. The administrative expenses during the year was Rs.421508.00. As already informed the bankers have initiated recovery proceedings and they have sold of the assets of the company. The directors however proposes to restart the business activities once the bankers dues are settled. The Directors are also making efforts to revoke suspension of trading in Shares and have initiated action for payment of fees to Depositories. 2. Transfer to Reserves The directors do not propose to transfer any amount to reserves. 3. Dividend Directors do not recommend any dividend for year ending 31.03.2011. 4. Material Changes affecting Financial Position of company after date of balance Sheet. No material changes have occurred affecting financial position of company after date of balance sheet. 5. Particulars of energy Conservation of Energy Etc. A. CONSERVATION OF ENERGY Energy conversation measures taken: None at present Additional investment and proposals, if any, being implemented for reduction of consumption of energy: There are no proposals. Impact of measures at (a) & (b) above for reduction of energy consumption and consequent impact on the cost of production of goods: Does not arise. Total energy consumption and energy consumption per unit of production as per Form'A' to annexure in respect of industries specified in the schedule thereto: Not Applicable since company has not carried out any operations during the year. B. TECHNOLOGY ABSORPTION Form B Research & Development (R & D) Specific area in which R & D carried by the company: None at Present Benefits derived as a result of the above R & D: Does not arise. Future plan of action: At present it is not under consideration Expenditure on R & D: Nil Technology absorption, adaptation and innovation: Efforts being made towards technology absorption, adaptation and innovation: None Benefits derived as a result of the above efforts e.g. Product improvement cost, reduction, product development, import substitution etc.: None Imported technology: Not applicable as technology has not been imported. C. FOREIGN EXCHANGE EARNING AND OUTGO: Earning: Rs. Nil Outgo : Rs. NIL 6. Information about employees The company do not have any employee drawing salary in excess of limits prescribed under section 217 (2a) of the companies act, 1956 read with the companies (particulars of employees) rules 1975 the particulars should be treated as nil 7. Directors responsibility statement Your Directors confirm that: In the preparation of Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures. The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that 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 loss of the company for the year. The directors has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities, and The directors had prepared the accounts on going concern basis. 8. Auditors Report The directors are of opinion that the comments in the Auditors report are self explanatory and do not call for any further explanation. 9. Acknowledgements The Directors express their sincere thanks to all the individuals, governments and other agencies who have given support and co operation company for their continued support. For & On Behalf of the Board of Directors Sd/- Kirti Kothari Chairman Place: Surat Date : 06th July, 2011