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Tulive Developers Ltd.

BSE: 505285 Sector: Infrastructure
NSE: N.A. ISIN Code: INE637D01015
BSE 00:00 | 15 Mar 256.70 0
(0.00%)
OPEN

256.70

HIGH

256.70

LOW

256.70

NSE 05:30 | 01 Jan Tulive Developers Ltd
OPEN 256.70
PREVIOUS CLOSE 256.70
VOLUME 1
52-Week high 256.70
52-Week low 180.00
P/E 120.52
Mkt Cap.(Rs cr) 68
Buy Price 251.70
Buy Qty 10.00
Sell Price 235.90
Sell Qty 49.00
OPEN 256.70
CLOSE 256.70
VOLUME 1
52-Week high 256.70
52-Week low 180.00
P/E 120.52
Mkt Cap.(Rs cr) 68
Buy Price 251.70
Buy Qty 10.00
Sell Price 235.90
Sell Qty 49.00

Tulive Developers Ltd. (TULIVEDEVELOPER) - Chairman Speech

Company chairman speech

ANNUAL REPORT 1999-2000 KERRY JOST ENGINEERING LIMITED CHAIRMAN SPEECH To our Shareholders In spite of all our best efforts It has not been possible to sustain our business economically due to poor business prospects, lack of orders and non availability of funds for working capital, among other9. As such we were forced to suspend manufacturing operations at our Ambattur factory in Chennai with effect from 31st December 1999. It has been an unpleasant and hard decision made under trying circumstances but it appeared to be the only alternative as no further resources were available to continue working. The optimistic situation that had been visualised just over a year ago did not materialise but on the contrary the engineering industry particularly suffered further setbacks. Moreover, the economic growth contemplated by the current year's budget did not take place and the Company's operations consequently were adversely affected. As a result of the suspension there were obviously difficult situations, the most important of which were how to deal with labour and our customers. After protracted negotiations in the current financial year a settlement has been arrived at with the workers whereby a mutually agreed figure of compensation was paid to all the workmen resulting in an amicable separation. During this negotiating period no work was being done in the factory due to the disrupted situation and it was therefore not possible to complete our accounts within the statutory period. An attempt has also been made to complete outstanding orders wherever possible. Even though all attempts have been made to collect dues to the Company, a significant amount still remains outstanding but efforts in this connection continue. As a result of these events the 1099 for the year amounts to Rs.133 lakhs. The future course of action is yet to be determined but efforts to preserve shareholders' value will be made. It is unfortunate that unavoidable circumstances have brought the Company to this situation and shareholders will be informed of further events as they take place. B. H . Reporter Chairman Mumbai, 29th November, 2000.