Shareholders NMDC SARL
The NMDC SARL (a Wholly Owned Subsidiary of NMDC) is a Company registered underMalagasy right having a registered capital of 1000000 MGA (One million Malagasy ariary).Its main activity is prospecting exploration and exploitation of high value mineraldeposits in Madagascar. The Company had suspended its operation from March 2002 due todisturbed political situation in the country and also due to poor exploration results.
In view of the above NMDC took a decision to wind up NMDC SARL. The process of windingup is on hand. There have been no transactions after March 2002.
On 1st January 2005 the Malagasy ariary (MGA) replaced the previous currency i.e.Malagasy franc (FMG) and one Malagasy franc was valued at 0.2 ariarys and accordingly theFMG monetary value are converted into MGA.
No transactions pertaining to the company have occurred during the financial year endedon 30th June 2013. Hence only the Balance Sheet has been reproduced without any changefrom the previous years figures.
Narendra K. Nanda
Director - Manager