Ocean Infrastructure Ltd.
BSE: 532086 |
Sector: Financials |
NSE: N.A. |
ISIN Code: INE789C01016 |
BSE
05:30 | 01 Jan
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Ocean Infrastructure Ltd
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NSE
05:30 | 01 Jan
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Ocean Infrastructure Ltd
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Ocean Infrastructure Ltd. (OCEANINFRASTRUC) - Director Report
Company director report
OCEAN INFRASTRUCTURE LIMITED
ANNUAL REPORT 2006-2007
DIRECTOR'S REPORT
To
The Members,
Your Directors are pleased to present their 26th Annual Report and Audited
Accounts for the Year ended 31st March 2007.
Financial Results:
Year ended Year ended
31st March 2007 31st March 2006
(Rs. In Lac) (Rs. In Lac)
Gross Income 4.01 5.55
Profit before Taxes -0.36 -3.51
Provision for Taxes 0 0
Profit after Tax -0.36 -3.51
HUMAN RESOURCES:
Your company believes that employees, play a strong role in growth. By
providing challenging projects and client experiences coupled with a
rewarding work environment, your company helps attract and retain the best
talent.
FOREIGN EXCHANGE EARNINGS AND OUTGO - NIL
PARTICULARS OF EMPLOYEES:
There is no employee whose particulars are required to be covered under
Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars
of Employees) Rule 1975.
CORPORATE GOVERNANCE:
A report on the Corporate Governance Code as per Kumar Manglam Birla
Committee Report along with a Certificate from Statutory Auditors of the
Company regarding compliance of the conditions of Corporate Governance as
stipulated under clause 49 of the Listing Agreement is given in Annexure
forming part of this report.
DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to provisions of Section 217 (2AA) of the Companies Act, 1956 the
Directors Responsibility Statement is as under:
1. That in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures.
2. That the directors had selected such accounting policies and applied
them consistently and made judgment and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the
company at the end of financial year and of the profit and loss of the
company for that period.
3. That the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities.
4. That the directors had prepared the annual accounts on a going concern
basis.
PARTICULARS REGARDING ENERGY CONSERVATION:
The particulars as described under Section 217(1)(e) of the Companies Act,
1956 read with Companies (Disclosure of particulars in the Report of Board
of Directors) Rules 1988, are not applicable to the company.
FIXED DEPOSITS:
The company has not accepted any fixed deposits during the year therefore
the provisions of Section 58A of the Companies Act, 1956 are not applicable
to the Company.
AUDITORS:
M/s Gupta & Agarwal Chartered Accountants; Kolkata who retire by rotation
at the forthcoming Annual General Meeting have offered themselves for
reappointment as the Auditors of the Company.
STOCK EXCHANGES:
The shares of your company are listed on Delhi Stock Exchange, Mumbai.
Stock Exchange and Calcutta Stock Exchange.
ACKNOWLEDGEMENT:
The directors thank the clients, Company's bankers for their continued
support to the company. Your directors wish to place on record their
appreciation for the dedicated and sincere services rendered by the staff
and officers of the company without the steady growth of the company would
have not been possible.
The Directors thank you for your support and cooperation to the company.
By order of the Board of Directors
Sd/-
Director
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