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Tatanagar Bricks Ltd.

BSE: 526542 Sector: Consumer
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Tatanagar Bricks Ltd
NSE 05:30 | 01 Jan Tatanagar Bricks Ltd

Tatanagar Bricks Ltd. (TATANAGARBRICKS) - Director Report

Company director report

1996 TATANAGAR BRICKS LIMITED DIRECTORS REPORT The Directors have pleasure in presenting the Third Annual Report and audited statement of Accounts of the Company for the financial year 1995- 96. ACCOUNTS As the Company has no manufacturing, Trading or, Service activities during the accounting year ended on March 31st 1996, no Profit & Loss Account has been prepared for the above period. All pre-operative and other Miscellaneous expenses shall be capitalised or written of appropriately at a later date. PERFORMANCE PROJECT STATUS AND IMPLEMENTATION The Company is setting up a Fly Ash Bricks Plant and a Hard Ceramic Tiles Plant. The land acquisition and civil construction of the entire plant is over. All the orders for Plant & Machinery has been placed and 90% machineries of the Glazed Tile Plant has been received. Production in the Glazed tiles plant will start during the Current year and the Bricks Plant will start functioning during the second quarter of the next financial year. DIVIDEND Since the Company has not commenced its business activities, no dividend has been recommended for the year under review. FIXED DEPOSIT The Company has not accepted Fixed Deposit from the Public. RESEARCH & DEVELOPMENT The Company has not incurred any Sum in respect of Research and Development for any of its activities. CONSERVATION OF ENERGY, TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: A. CONSERVATION OF ENERGY The Company has not taken any Steps for Conservation of energy. B. TECHNOLOGICAL ABSORPTION: All Steps have been taken for Technology Absorption during the year under review. C. FOREIGN EXCHANGE EARNING & OUTGO Expenditure made in Foreign Travelling Rs. 3,37,871.00. DIRECTORS Mrs. Manju Agiwal, Director of the Company retires at the ensuing Annual General Meeting and is eligible for re-appointment. PARTICULARS OF EMPLOYEES REQUIRED UNDER SECTION 217 (2A) OF THE COMPANIES ACT 1956. No Employee of the Company was in receipt of remuneration exceeding in the aggregate Rs. 3,00.000/- or more during the Financial Year or Rs. 25,000/- or more per month, if employed for the part of a year. APPRECIATION The Directors wish to place on record their appreciation for the efficient and loyal services rendered by Executives and all Sections of the Staff and Workers of the Company. Relation with Labour remain cordial throughout the year. The Directors also wish to place on record their sincere appreciation for the positive co-operation received by the Company from the Government Departments, Banks, Customers, Suppliers during the year. for and on behalf of the Board of Directors VISHNU K. AGIWAL Chairman Cum Managing Director Place : Jamshedpur, Dated : 28th June, 1996.