NIHON NIRMAAN LIMITED
Your Director present their report together with the Audited Statement of
accounts for the year ended 31st March, 1995.
Your Directors regret their inability to recommend any dividend for the
year under review, due to the huge losses suffered by the Company.
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
Your Directors are constantly working out a package for revival of the
Company, considering the industrial scenario and increase in demand of
Your Directors are hopeful that suitable solutions will come out in
consultation with financial institutions and Banks.
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
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,
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.
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
FOR AND ON BEHALF OF THE BOARD
FOR NIHON NIRMAAN LIMITED
LT. GEN. (RETD) A.M. SETHNA
Dated: 28th September, 1995.