TRIA FINE-CHEM LIMITED
Your Directors present their Fourth Annual Report together with Audited
Balance Sheet as at 31st March, 1996 and the Statement of Expenditure
During Construction Period ended on that date and the Auditors Report
Due to design changes and cost over-run, the project could not be
implemented as per schedule. However, major part of the plant and machinery
has been received and the balance quantity is ready to be transported to
site after final inspection. The erection of plant and machinery has
commenced. The project is expected to commence by December 1996.
Since your company has not commenced commercial production so far, the
Directors have not proposed any dividend for the period under review.
The Company has not accepted any fixed deposits from the public.
Mr. N.N.Pai, Mr. S.N.Talwar and Mrs. Alka Chaturvedi resigned w.e.f. 25th
September 1995, 2nd April 1996 and 31st July 1996 respectively. Mr. R.
Srinivasan, IAS (Ret.), was appointed as Additional Director with effect
from 24th August 1996.
The Board wishes to record its sincere appreciation of the able guidance
and the co-operation received from Mr. N.N.Pai, Mr. S.N.Talwar and Ms. Alka
Chaturvedi during their association with the Company as Directors.
There were no Employees employed by the Company during the year 1995-96,
who were drawing remuneration in excess of limits prescribed under Section
217 (2A) of the Companies Act, 1956.
COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS)
The Company's project being in the advanced stage of implementation, the
particulars under the aforesaid Rules are not applicable.
STATEMENT UNDER CLAUSE 43 OF LISTING AGREEMENT
Your Company made a Public Issue vide Prospectus dated 6th September, 1994.
The funds raised have been utilised towards the objects of the Issue as
stated in the said Prospectus. The Company has not started commercial
production and there is no profit / loss during the year.
M/s Chaturvedi SK & Fellows, Chartered Accountants, retire at the
conclusion of the ensuing 4th Annual General Meeting. The company has
received a certificate from the Auditors under section 224(1B) of the
companies Act that their appointment, if made, will be within the statutory
The Directors place on record their sincere appreciation of the Co-
operation, Support and assistance received from Company's Bankers, Local
Bodies and other Government Authorities and Employees at all levels.
For and on behalf of the Board
CHAIRMAN & MANAGING DIRECTOR
Place : Mumbai
Dated : 24th August, 1996.