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Tria Fine Chem Ltd.

BSE: 524721 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
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Tria Fine Chem Ltd. (TRIAFINECHEM) - Director Report

Company director report

1996 TRIA FINE-CHEM LIMITED DIRECTORS' REPORT 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 thereon. PROJECT 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. DIVIDEND Since your company has not commenced commercial production so far, the Directors have not proposed any dividend for the period under review. DEPOSITS The Company has not accepted any fixed deposits from the public. DIRECTORS 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. EMPLOYEES 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) RULES, 1988 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. AUDITORS 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 limit. ACKNOWLEDGEMENTS 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 D.P.CHATURVEDI CHAIRMAN & MANAGING DIRECTOR Place : Mumbai Dated : 24th August, 1996.