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Richimen Silks Ltd.

BSE: 514048 Sector: Industrials
BSE 05:30 | 01 Jan Richimen Silks Ltd
NSE 05:30 | 01 Jan Richimen Silks Ltd

Richimen Silks Ltd. (RICHSILK) - Director Report

Company director report

RICHIMEN SILKS LIMITED ANNUAL REPORT 1999-2000 DIRECTOR'S REPORT To, The Share Holders, Your Directors have pleasure in presenting the SIXTEENTH ANNUAL REPORT along with Audited balance Sheet and Profit & Loss A/c for the year ended 31st March 2000. OPERATIONAL RESULTS : The Company did not do any commercial operations, during the year under review. The administrative over heads have resulted in a net loss for the year Rs. 406733/- CONSERVATION OF ENERGY : The company's operations do not involve a high energy consumption and there are no areas where energy conservation measures could be undertaken. But even them, the directors are trying to optimise the energy consumption by better operational methods and means. TECHNOLOGY ABSORPTION : The information required to be disclosed under Rule 2 (B) has been furnished in Form B annexed to this Report. FOREIGN EXCHANGE EARNINGS AND OUT GO : There were no imports made during the year. There were no Foreign Currency relised during the year. DIRECTORS Shri. Indrakanth retire by rotation and being eligible, offer them selves reappointment. AUDITORS M/s. MRK REDDY & CO., chartered Accounts of the company retire at the ensuring Annual General Meeting and are eligible for reappointment. EMPLOYEES In accordance with the provisions of Sec.217 (2a) of the companies Act, 1956 read with the companies (particulars of employees) rules, 1975 your Directors inform that there are no employees covered by this section. BOARD OF DIRECTORS Date : 01st September, 2000 Place : HYDERABAD DIRECTOR FORM `B' FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION RESEARCH AND DEVELOPMENT 1. Specific areas in which R & D : Nil is carried out by the Company 2. Benefits derived as a result of : Nil the above R & D 3. Future course of Action : No Action plan is envisaged at present. 4. Expenditure on R & D : No Specific Expenditure. TECHNOLOGY ABSORPTION AND INNOVATION The indigenous technology available is continuously being upgraded to improve the over all performance. BOARD OF DIRECTORS Date : 01st September, 2000 Place : HYDERABAD DIRECTOR