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Golden Soya Ltd.

BSE: 519568 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Golden Soya Ltd
NSE 05:30 | 01 Jan Golden Soya Ltd

Golden Soya Ltd. (GOLDENSOYA) - Director Report

Company director report

1996 GOLDEN SOYA LIMITED DIRECTOR'S REPORT Your Directors present herewith the FIFTH ANNUAL REPORT along with the Audited Statement of Accounts for the year ended 31st March, 1996. OPERATIONS : Your Directors regret to inform that due to non- availability of Soya seeds at reasonable price mainly due to Crop failure, Company could not commence commercial production. Procuring of raw material at the prevailing prohibitive cost is not congenial for a nucleus set up and in view of the same the Company thought it prudent to defer production till the market stabilises. FINANCIAL RESULTS: Company has not commenced commercial activities during the period under review and no Profit and Loss Account has been prepared for the period Consequently. all expenses have been shown under the head "Pre- operative Expenses". PARTICULARS OF EMPLOYEES: There were no employees within the preview of Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1957. GENERAL The Company has not accepted any public deposit. DIRECTORATE: Shri O.P. Agarwal, Director retires by rotation at the conclusion of the ensuing General Meeting and being eligible offers himself for reappointment. AUDITORS: M/s. Mehra Saxena & Associates, Chartered Accountants, retire at the conclusion of the Fifth Annual General Meeting and being eligible offer themselves for reappointment. As required under Section 224(1) of the Companies Act, 1956 a certificate has been received from M/s. Mehra Saxena & Associates stating that their appointment, if made, will be in accordance with Section 224(1-B) of the said Act. For and on behalf of the Board For GOLDEN SOYA LIMITED (ASHOK SETH) Director Place : Mumbai Dated : 29th November, 1996.