KUMAR'S COTEX LIMITED
ANNUAL REPORT 1999-2000
Your Directors have pleasure in presenting the 9th Annual Report of the
Company together with the Audited Balance Sheet and statement of Pre-
operative Expenditure during Construction period pending Capitalisation for
the year ended 31st March 2000.
Though the Company has commenced partial production on 30th November 1998
and have also achieved the quality parameters, due to labour problem the
Company has stopped the production. The Company has already installed
preparatory spinning system viz. Blow room, carding, combing, simplex etc.
The directors are pleased to inform you that the Company has recommenced
the production with 5% of its installed capacity during the current
financial year. During the year under review the company has not made
Sri R.S. Rathore and Sri N S Sharma Directors of the Company, retires by
rotation and being eligible offers themselves for reappointment. The Board
wishes to place on record the appreciation for the services rendered by Sri
S.K. Sharma, Director who has resigned from the Board w.e.f. 30-06-99.
M/s. T.Raghavendra & Associates, Chartered Accountants, Auditors of the
Company will retire at the ensuing Annual General Meeting and being
eligible offer themselves for appointment.
PARTICULARS OF EMPLOYEES
None of the employees were in receipt of remuneration more than the limits
prescribed U/s.217 (2A) of the Companies Act, 1956 read with the Companies
(particulars of Employees) Rules, 1975. Hence the required information is
During the year under review the Company has neither invited nor received
any deposits from the Public.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
As the Company is in the stage of implementation, the details required U/s.
217(1)(e) read with Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules 1988 of the Companies Act, 1956, is NIL during
the year under review.
Your Directors take this opportunity to express their sincere thanks to the
Industrial Development Bank of India, Canara Bank, Consultants and various
Departments of the Central and State Government for their Continued support
and co-operation. Our Directors also place on record their appreciation of
all the employees for the sincere efforts put in by them for the progress
of the project.
FOR AND ON BEHALF OF THE BOARD
KUMAR'S COTEX LIMITED
PLACE: SECUNDERABAD SATISH KUMAR AGGARWAL
DATE : 17th June, 2000 CHAIRMAN