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Gloria Leasing Ltd.

BSE: 507834 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Gloria Leasing Ltd
NSE 05:30 | 01 Jan Gloria Leasing Ltd

Gloria Leasing Ltd. (GLORIALEASING) - Director Report

Company director report

1996 GLORIA LEASING LIMITED DIRECTOR'S REPORT The Directors of GLORIA LEASING LIMITED welcome the members to the ELEVENTH ANNUAL GENERAL MEETING and have pleasure to present the Annual Report and Audited Account for the year ended 31st March, 1996. DIVIDEND Although the company has made some profit, no dividend is recommended for the year 1995-96, as the company needs to conserve resources. Current Working : During the year under review the company undertook trading activities in various Yarns and Fabrics. The company notched a Sale of Rs. 895.34 lacs despite heavy odds. It is expected that hereafter trading activity will prove to be more profitable. PARTICULARS OF EMPLOYEES : There was no employee drawing over Rs. 1,44,000 per year or employed for a part of the financial year with aggregate remuneration of Rs. 12,000/- per month. DIRECTORS : As per the provisions of the Companies Act, 1956, Mr. M.K. Nanda who retire by rotation and being eligible offer himself for re-appointment. AUDITORS : The Statutory Auditors M/s. Mehra Saxena & Associates, Chartered Accountants, retire at the end of this meeting, but being eligible are being recommended for reappointment. They have furnished a Certificate u/s 224(1B) of the Companies Act, 1956. ENVIRONMENT AND ENERGY CONSUMPTION : These are not applicable to this Company, being a Finance Company. PUBLIC DEPOSITS : The Company has not public deposit. By Order of the Board of Directors For GLORIA LEASING LIMITED (R.K. SETH) Director Place : Mumbai Dated : 27th November, 1996.