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Sri Chakra Financial Services Ltd.

BSE: 507920 Sector: Financials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Sri Chakra Financial Services Ltd
NSE 05:30 | 01 Jan Sri Chakra Financial Services Ltd

Sri Chakra Financial Services Ltd. (SRICHAKRAFIN) - Director Report

Company director report

SRI CHAKRA INFOWAYS LIMITED ANNUAL REPORT 1999-2000 DIRECTOR'S REPORT Dear Shareholder (s) Your Directors have pleasure in presenting the 15th Annual Report and the Audited Statement of Accounts of your Company for the year ended 31st December, 2000. DIVIDEND During the period under review, the company continued to suffer Losses due to liquidity crisis alongwith Depressed Capital Market resulting no activities for the company. In view of this no dividend has been proposed by your Directors. OPERATIONS OF THE COMPANY Due to inoperations in existing activities of Hire Purchase and Leasing and not accepting of the Fixed Deposits the Company has not done any Business. DIRECTORS Sri P. C. Shrimal, Director will be retiring by rotation at the ensuing Annual General Meeting and being eligible offers himself for re- appointment. During the period Sri C.N. Deekshitulu, has been appointed as Director of the company subject to retire by rotation. FUTURE PROSPECTS Your Board of Directors are confident that with the steps taken by the Management to project its future activities into Information Technology, the coming years would prove to be beneficial to the Company and also Shareholders. DEPOSITS Consequent to the directions of Reserve Bank of India the Company has discontinued acceptance of Fixed Deposits from Public, with effect from 01- 04-1998. Unclaimed and Un-paid Deposits as on 31st December, 2000 amount to Rs 7.59 Lakhs. AUDITORS M/s. P. Srinivasan and Company, Chartered Accountants, Auditors of the Company retired at the conclusion of the ensuing Annual General Meeting and eligible for re-appointment. DISCLOSURE Companies Disclosure of particulars in the Report of Board of Director(s) Rules, 1998 does not apply to your Company. PARTICULARS OF EMPLOYEES None of the employees were in receipt of remuneration of Rs.6.00 lacs per annum or Rs. 50,000/- per month during the period under review. ACKNOWLEDGEMENTS Your Directors have taken this opportunity to place on record their appreciation and gratitude for the whole-hearted support, co-operation and guidance received from the State Bank and the other Central, State Government and local authorities. The Company thanks the shareholders and Depositors for the confidence reposed by them in the Company. By Order of the Board of Directors for Sri Chakra Infoways Limited Place: Hyderabad C.N. DEEKSHITULU N. KRISHNA MOHAN Date : 30-05-2001 Director Wholetime Director