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Sanyo Impex Ltd.

BSE: 531488 Sector: Others
NSE: N.A. ISIN Code: INE905A01020
BSE 05:30 | 01 Jan Sanyo Impex Ltd
NSE 05:30 | 01 Jan Sanyo Impex Ltd

Sanyo Impex Ltd. (SANYOIMPEX) - Director Report

Company director report

SANYO IMPEX LIMITED ANNUAL REPORT 2001-2002 DIRECTORS' REPORT TO THE SHAREHOLDERS M/S. SANYO IMPEX LTD. 1. Your Directors have great pleasure in presenting this 8th Annual Report with the Audited Accounts of the Company for the year ended 31st March 2002. 2. PERFORMANCE. During the year the export market for garments & commodities is not favorable. The company during the year has Indulged in domestic market trade and this but resulted in a decrease in the turnover of your company. 3. DIVIDEND. Your Directors do riot recommend any dividend during the year under review due to losses. 4. DIRECTORS. As per Section 255 of the Companies Act, 1956 read with Articles 90-91 of the Article of Association Mr. Rajiv Mohan Agarwal - Director retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for reappointment during the year 5. AUDITORS. M/s. JPS & Co. Chartered Accountants retire at the ensuing Annual General Meeting being eligible offer them self for reappointment. The observations made by the auditors are self explanatory and have been dealt with in the notes vide Schedule No. 16 forming part of the accounts and hence need no further clarifications. 6. DIRECTORS RESPONSIBLILITY STATEMENT. Pursuant to section 217(2AA) it is hereby stated that in the preparation of the Annual Accounts, the applicable accounting standards have been followed. The Director's have selected such accounting policies and applied them consistently and made judgements and estimates, they 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 or loss of the company for that period. The Director's have 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. Further the Director's have prepared the annual accounts on a going concern basis. 7. FOREIGN EXCHANGE EARNINGS AND OUTGO. During the year, the total foreign exchange outgo and foreign earnings were nil. 8. ENERGY CONSERVATION AND TECHNOLOGY ABSORPTION. The activities of the company do not require power and energy and as such these provisions are not applicable to the company. 9. PARTICULARS OF EMPLOYEES The management employee's relations remained cordial throughout the year'. The Directors wish to place on record their deep appreciation for the dedicated and loyal services rendered by the officers, staff and workers of the company. None of the employee is in receipt of remuneration exceeding the limits as prescribed Under Section 217(2A) of the Companies Act 1956 during the year under review. 10. PUBLIC DEPOSITS. Your company has not accepted any fixed deposits as per section 58A of the Companies Act, 1956 and the rules made thereunder. 11. ACKNOWLEDGEMENTS. Your Directors acknowledge with gratitude, the co-operation extended by bankers, business associates, ex-directors and shareholders and encouragement and contribution made by the employees at all levels. By order of the Board of Directors For SANYO IMPEX LIMITED S.M.AGARWAL - Chairman cum Managing Director R.M. AGARWAL- Director Place: New Delhi Date : 2.09.2002