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Nihon Nirmaan Ltd.

BSE: 500453 Sector: Industrials
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Nihon Nirmaan Ltd. (NIHONIRMAN) - Director Report

Company director report

1995 NIHON NIRMAAN LIMITED DIRECTOR'S REPORT Your Director present their report together with the Audited Statement of accounts for the year ended 31st March, 1995. 1. DIVIDEND Your Directors regret their inability to recommend any dividend for the year under review, due to the huge losses suffered by the Company. 2. OPERATION All the operation at factory and the Registered Office at Gotan were lying suspended since 5th March, 1994. During the year under review no production was carried out. At the same time company had to incur fixed expenses thereby resulting huge losses. The Company accordingly made applications before the Board for Industrial and Financial Reconstruction for Registration which have been rejected on the ground that the Company does not yet fall within the definition of Sick Industrial Company. Your Directors are constantly working out a package for revival of the Company, considering the industrial scenario and increase in demand of White Cement. Your Directors are hopeful that suitable solutions will come out in consultation with financial institutions and Banks. 3. DIRECTORS RIICO had nominated Sri S.C. Dinker in place of Sri S.S. Chaturvedi w.e.f. 11th January, 1995. The Board places on record its sincere appreciation for the valuable services and guidance rendered by Sri S.S. Chaturvedi during his tenure as Director of the Company and welcomes Sri S.C. Dinker on the Board. Lt. Gen (Retd) A.M. Sethna, PVSM AVSM retires by rotation and being eligible offers himself for reappointment. 4. PARTICULARS OF EMPLOYEES The information required under Sec. 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 regarding employees, are not furnished here as none of the Employees has drawn or is drawing salary of more than Rs. 3,00,000/- per annum or Rs. 5,000/- per month. 5. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO Information regarding conservation of energy, technology absorption, foreign exchange earning and outgo are not given, because no energy was consumed, no foreign exchange was earned or used because the production of the company throughout the year was suspended. 6. AUDITORS' REPORT Observation made in the Auditors' Report are self-explanatory and therefore do not call for any comments under Section 217(3) of the Companies Act, 1956. 7. AUDITORS M/s. S.R. Batliboi & Co., Chartered Accountants, Auditors of the Company, retire at the conclusion of the forthcoming Annual General Meeting an being eligible, offer themselves for reappointment. 8. ACKNOWLEDGEMNET Your Directors express their gratitude to the Government of Rajasthan, Government of India RIICO, RSMDC, Financial Institutions, Bankers, and Foreign Collaborators M/s. Nihon Cement Company Ltd., Japan for their continued support, guidance and co-operation extended to the Company. The Directors also wish to Place on record their thanks and sincere appreciation to the employees of the Company at all levels for their contribution. FOR AND ON BEHALF OF THE BOARD FOR NIHON NIRMAAN LIMITED LT. GEN. (RETD) A.M. SETHNA CHAIRMAN Place: Calcutta, Dated: 28th September, 1995.