Mar 31, 2014
Dear Shareowners,
Kalpena Plastiks Limited,
The Directors are pleased to present the 25th Annual Report together
with the audited accounts for the year ended 31st March 2014.
Financial Performance
(RsIn Lacs)
Particulars 2013-2014 2012-2013
Sales & other Income 40.01 10426.23
Profit before Depreciation , Interest & Tax 9.30 14.85
Less : Depreciation 0.73 0.44
Interest 0.41 0.25
Profit before Tax 8.16 14.16
Less : Provision for Tax 2.08 2.48
Profit After Tax 6.08 11.68
Add: Profit brought forward from previous year. 35.52 23.84
Balance Carried to B/S 41.60 35.52
Operations
The Company has achieved a sales turnover (comprises mainly other
income) of Rs. 0.40 Crore during the FY 2013 -14 as against Rs. 104.26
Crore in the previous year. The Profit after tax for the year is Rs.
6.08 lacs as compared to profit of Rs. 11.68 lacs in the previous year.
Dividend
Your Directors feel that there is a need to conserve resources for
future plans and regret their inability to recommend any dividend for
the current year.
Change of Registered Office
In order to manage the entire operations more economical and more
efficient, the Company has shifted its registered office from 3, Saheed
Nityananda Saha Sarani, Kolkata - 700 001 to Village: Bhasa, No. 14,
P.O. & PS: Bishnupur, Diamond Harbour Road, South 24 Paraganas, WB -
743503 with effect from 01st April, 2014. Due Compliances in this
regard have been completed.
Public Deposits
Your Company has not accepted any fixed deposit during the year under
review in terms of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposit) Rules, 1975 and hence no amount of
principal or interest was outstanding as at the Balance Sheet date.
Directors
In accordance with the provisions of the Companies Act, 2013, Mr. Deo
Kishan Kalwani (DIN 03363450),
Whole Time Director of the Company retires by rotation at the
conclusion of the forthcoming Annual General Meeting and being
eligible, has offered himself for re-appointment.
Mr. Kashi Nath Agarwal and Mr. Mohan Kumar Tiwary resigned from the
Directorship of the Company with effect from 03rd October, 2013. Your
Directors appreciate the service rendered by them to the Company.
Mr. Deo Kishan Kalwani (DIN 03363450), being appointed as Whole-Time
Director of the Company with effect from 01st April, 2014. Appropriate
resolution for his reappointment is being placed before you for your
approval at the ensuing Annual General Meeting.
Mr. Jitendra Tiwari (DIN 00228352) and Mrs. Ananya Dey (DIN 01297763),
being non-executive independent directors have submitted a declaration
to the Board that they meet the criteria of independence as provided
under section 149(6) of the Act. In compliance with the provisions of
section 149 read with Schedule IV of the Act, the appointment of these
directors as Independent Directors is now being placed before you for
your approval.
Your Company has received from the Independent Directors Certificate of
Independence, as enumerated in section 149(6) of the Companies
Act,2013.
The brief resume and other information of the eligible directors in
terms of the provisions of clause 49 of the Listing Agreement with
Stock Exchanges have been detailed elsewhere in the notice. Your
Directors recommends his reappointment as Director of your Company.
Directors'' Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
hereby confirm that:
- In preparation of the annual accounts, the appropriate accounting
standards have been followed. There are no material departures from
these applicable accounting standards.
- the directors have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company as at 31st March, 2014 and its loss for the year ended on
that date.
- The directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- The directors have prepared the annual accounts on a going concern
basis.
Auditors and Auditors'' Report
The Statutory Auditors of the Company, M/s Maloo & Co., Chartered
Accountants, Kolkata (Firm Registration No.310062E), retire at the
ensuing Annual General Meeting and have confirmed their eligibility and
willingness to accept office, if reappointed. The Audit Committee and
the Board of Directors recommends the re-appointment of M/s Maloo &
Co., Chartered accountants, as the Auditors of the Company upto the
conclusion of next Annual General Meeting.
Cost Audit
As per the Cost Audit Order vide no. 52/26/CAB- 2010 dated November 6,
2012, issued by the MCA under Section 233B of the Companies Act, 1956,
the board had appointed M/s. D. Sabyasachi & Co., Cost Accountants,
Kolkata to carry out the cost audit of the Company for the financial
year 2012-13. The due date for filing the cost audit report for the
financial year 2012-13 was September 30, 2013. This report was filed
within the prescribed time in the XBRL format with the MCA.
Pursuant to section 148 of the Companies Act, 2013 and subject to
notification of rules thereunder, the board of directors on the
recommendation of the audit committee appointed M/s. D. Sabyasachi &
Co., Cost Accountants, Kolkata, as the Cost Auditors of the Company for
the financial year 2014-15. M/s. D. Sabyasachi & Co. have confirmed
that their appointment is within the limits and they are free from any
disqualifications as provided in section 141 of the Companies Act,
2013.
Particulars of Employees
None of the employees employed throughout the year or part of the year
who was in receipt of salary of Rs. 5,00,000 /- or more per month or
Rs. 60,00,000 /- or more per annum, therefore, no details have been
provided or required under section 217 (2A) of the Companies Act, 1956
read with the Company (Particulars of Employees) Rules, 1975.
Industrial Relations
The Company continued to attract and retain qualified and diligent
employees. Various senior and junior employees were recruited to add to
the existing strength. During the year, your company maintained
harmonious and cordial Industrial Relations.
Management Discussion and Analysis
In accordance with Clause 49 of the Listing Agreement with the Stock
Exchanges in India, the Management''s Discussion and Analysis Report for
the year under review, is presented in a separate section forming part
of the Annual Report and marked as Annexure ''A''.
Corporate Governance
A separate section on Corporate Governance, as stipulated under Clause
49 of the Listing Agreement with the Stock Exchanges in India, forming
part of the Annual Report and marked as Annexure ''B''.
A certificate from the Auditors of the Company M/s Maloo & Co.,
Chartered Accountants, Kolkata, confirming compliance of conditions of
Corporate Governance as stipulated under the aforesaid Clause 49, is
annexed to this Report.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo.
Particulars required to be furnished under Section 217(1) (e) of The
Companies Act, 1956 read with Companies (Disclosure of Particulars in
the Report of Board of Directors) Rule, 1988.
i. Part A and Part B of the Rules, pertaining to conservation of Energy
and technology absorption, are not applicable to the Company
ii. Foreign Exchange earnings and outgo
Earning Nil
Outgo Nil
Acknowledgement
Your Directors wish to convey their sincere appreciation to all of the
Company''s employees and workers at all level for their enormous
personal efforts as well as their collective contribution to the
Company''s performance.
Your Directors also wish to thank to all the shareholders, customers,
dealers, suppliers, bankers, financial institutions, Govt. authorities
and all the other business associates for the continued support given
by them to the Company and their confidence in its management.
Registered Office: By Order of the Board of Directors
14, Bishnupur, Diamond
Harbour Road,
Bhasa, South 24 PGS - 743503
J.Tiwari
Date: 29th May, 2014. (Chairman)
Mar 31, 2013
Dear Shareholder of Kalpena Plastiks Limited
The Directors are pleased to present the 24th Annual Report together
with the audited accounts for the year ended 31st March 2013.
Financial Performance (Rs. In Lacs)
Particulars 2012-2013 2011-2012
Sales & other Income 10426.23 4119.61
Profit before Depreciation ,
Interest & Tax 14.85 (5.72)
Less : Depreciation 0.44 0.11
Interest 0.25 0.09
Profit before Tax 14.16 (6.97)
Less : Provision for Tax 2.48 0
Profit After Tax 11.68 (6.97)
Add: Profit brought
forward from previous year. 23.84 30.81
Balance Carried to B/S 35.52 23.84
Operations
The Company has achieved a sales turnover of Rs. 104.26 Crore during
the FY 2012 -13 as against Rs. 41.19 Crore in the previous year. The
Profit after tax for the year is Rs. 11.68 lacs as compared to loss of
Rs. 6.97 lacs in the previous year.
Dividend
Your Directors feel that there is a need to conserve resources for
future plans and regret their inability to recommend any dividend for
the current year.
Public Deposits
Your Company has not accepted any fixed deposit during the year under
review in terms of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposit) Rules, 1975 and hence no amount of
principal or interest was outstanding as at the Balance Sheet date.
Directors
Mr.B.L.Bohara resigned from the Directorship of the Company with effect
from 16th January, 2013. Your Directors appreciate the service
rendered by him to the Company.
Mr. Kashi Nath Agarwal, Director of the company, liable to retire by
rotation at the forthcoming Annual General Meeting and being eligible,
offer himself for reappointment.
Appropriate resolution for his reappointment is being placed before you
for your approval at the ensuing Annual General Meeting. The brief
resume and other information of the eligible directors in terms of the
provisions of clause 49 of the Listing Agreement with Stock Exchanges
have been detailed elsewhere in the notice. Your Directors recommends
his reappointment as Director of your Company.
Directors'' Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
hereby confirm that: In preparation of the annual accounts, the
appropriate accounting standards have been followed. There are no
material departures from these applicable accounting standards.
- the directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and
- prudent so as to give a true and fair view of the state of affairs
of the company as at 31st March, 2013 and its loss for the year ended
on that date.
- The directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- The directors have prepared the annual accounts on a going concern
basis.
Auditors and Auditors'' Report
The Statutory Auditors of the Company, M/s Maloo & Co., Chartered
Accountants, Kolkata, retire at the conclusion of the ensuing Annual
General Meeting of the Company and confirmed their willingness and
eligibility for re-appointment, if made, will be within the limits
under section 224(1 B) of the Companies Act, 1956 and that they are not
disqualified for re-appointment within the meaning of section 226 of
the Companies Act, 1956.
Further, the Auditors have confirmed that they have undergone the peer
review process of the Institute of Chartered Accountants of India
(ICAI) and yet to receive the certificate from the ''Peer Review
Board'' of ICAI. The observations of the Auditors in the Report on
Accounts read with the relevant notes are self - explanatory.
Cost Audit
M/s. D. Sabyasachi & Co., Cost Accountants, Kolkata have been appointed
as Cost Auditors of the Company for the Financial Year 2013-14
commencing 1st April, 2014, subject to approval of the Central
Government. Compliance Audit relating to ''PVC Compound'' for the
year ended 31st March, 2013, has been conducted by the said cost
auditors and related report has been submitted to the Ministry of
Corporate Affairs, Government of India within the prescribed time.
Particulars of Employees
None of the employees employed throughout the year or part of the year
who was in receipt of salary of Rs. 5,00,000 /- or more per month or
Rs. 60,00,000 /- or more per annum, therefore, no details have been
provided or required under section 21 7 (2A) of the Companies Act, 1
956 read with the Company (Particulars of Employees) Rules, 1975.
Industrial Relations
The Company continued to attract and retain qualified and diligent
employees. Various senior and junior employees were recruited to add to
the existing strength. During the year, your company maintained
harmonious and cordial Industrial Relations.
Management Discussion and Analysis
In accordance with Clause 49 of the Listing Agreement with the Stock
Exchanges in India, the Management''s Discussion and Analysis Report
for the year under review, is presented in a separate section forming
part of the Annual Report and marked as Annexure ''A''.
Corporate Governance
A separate section on Corporate Governance, as stipulated under Clause
49 of the Listing Agreement with the Stock Exchanges in India, forming
part of the Annual Report and marked as Annexure ''B''.
A certificate from the Auditors of the Company M/s Maloo & Co.,
Chartered Accountants, Kolkata, confirming compliance of conditions of
Corporate Governance as stipulated under the aforesaid Clause 49, is
annexed to this Report.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo.
Particulars required to be furnished under Section 217(1) (e) of The
Companies Act, 1956 read with Companies (Disclosure of Particulars in
the Report of Board of Directors) Rule, 1988.
i. Part A and Part B of the Rules, pertaining to conservation of
Energy and technology absorption, are not applicable to the Company
ii. Foreign Exchange earnings and outgo Earning Nil
Outgo Nil
Acknowledgement
Your Directors wish to convey their sincere appreciation to all of the
Company''s employees and workers at all level for their enormous
personal efforts as well as their collective contribution to the
Company''s performance.
Your Directors also wish to thank to all the shareholders, customers,
dealers, suppliers, bankers, financial institutions, Govt. authorities
and all the other business associates for the continued support given
by them to the Company and their confidence in its management.
3, Saheed Nityananda Saha Sarani, For and on behalf of the Board
Kolkata 700 001
J. Tiwari
Date: 30th May, 2013 Chairman
Mar 31, 2012
The Directors are pleased to present the 23rd Annual Report together
with the audited accounts for the year ended 31st March 2012.
Financial Performance (Rs. In Lacs)
Particulars 2011-2012 2010-2011
Sales & other Income 4119.61 1910.25
Profit before Depreciation, Interest & Tax (5.72) 10.53
Less : Depreciation 0.11 0.57
Interest 0.09 0.03
Profit before Tax (6.97) 9.93
Less : Provision for Tax 0 2.68
Profit After Tax (6.97) 7.25
Add : Profit brought forward from previous year. 30.81 23.56
Balance Carried to B/S 23.84 30.81
Operations
During the year 2011-12, the company has achieved a sales turnover of
Rs. 41 Crore, against Rs. 19 Crore in the previous year. However, the
company sufferes a loss of Rs. 6.97 lacs as against profit of Rs. 7.25
lacs in the previous year. This is mainly due to high raw material
cost.
Dividend
Your Directors feel that there is a need to conserve resources for
future plans and regret their inability to recommend any dividend for
the current year.
Public Deposits
Your Company has not accepted any fixed deposit during the year under
review in terms of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposit) Rules, 1975 and hence no amount of
principal or interest was outstanding as at the Balance Sheet date.
Directors
Mr. Deo Kishan Kalwani, Director of the company, liable to retire by
rotation at the forthcoming Annual General Meeting and being eligible,
offer himself for reappointment.
Appropriate resolution for his reappointment is being placed before you
for your approval at the ensuing Annual General Meeting. The brief
resume and other information of the eligible directors in terms of the
provisions of clause 49 of the Listing Agreement with Stock Exchanges
have been detailed elsewhere in the notice. Your Directors recommends
his reappointment as Director of your Company.
Directors' Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
hereby confirm that:
- In preparation of the annual accounts, the appropriate accounting
standards have been followed. There are no material departures from
these applicable accounting standards.
- The directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the company as at 31st March, 2012 and its loss for the year ended
on that date.
- The directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- The directors have prepared the annual accounts on a going concern
basis.
Auditors and Auditors' Report
The Statutory Auditors of the Company, M/s Maloo & Co., Chartered
Accountants, Kolkata, retire at the conclusion of the ensuing Annual
General Meeting of the Company and confirmed their willingness and
eligibility for re-appointment, if made, will be within the limits
under section 224(1 B) of the Companies Act, 1956 and that they are not
disqualified for re-appointment within the meaning of section 226 of
the Companies Act, 1956.
Further, the Auditors have confirmed that they have undergone the peer
review process of the Institute of Chartered Accountants of India
(ICAI) and yet to receive the certificate from the 'Peer Review
Board' of ICAI. The observations of the Auditors in the Report on
Accounts read with the relevant notes are self - explanatory.
Cost Audit
M/s. D. Sabyasachi & Co., Cost Accountants, Kolkata have been appointed
as Cost Auditors of the Company for the Financial Year 2012-13
commencing 1st April, 2012, subject to approval of the Central
Government. Compliance Audit relating to 'PVC Compound' for the
year ended 31st March, 2012, has been conducted by the said cost
auditors and related report will be submitted to the Ministry of
Corporate Affairs, Government of India within the prescribed time.
Particulars of Employees
None of the employees employed throughout the year or part of the year
who was in receipt of salary of Rs. 5,00,000 /- or more per month or
Rs. 60,00,000 /- or more per annum, therefore, no details have been
provided or required under section 217 (2A) of the Companies Act, 1956
read with the Company (Particulars of Employees) Rules, 1975.
Industrial Relations
The Company continued to attract and retain qualified and diligent
employees. Various senior and junior employees were recruited to add to
the existing strength. During the year, your company maintained
harmonious and cordial Industrial Relations.
Management Discussion and Analysis
In accordance with Clause - 49 of the Listing Agreement with the Stock
Exchanges in India , the Management's Discussion and Analysis Report
for the year under review, is presented in a separate section forming
part of the Annual Report and marked as Annexure - 'A'.
Corporate Governance
A separate section on Corporate Governance, as stipulated under Clause
- 49 of the Listing Agreement with the Stock Exchanges in India,
forming part of the Annual Report and marked as Annexure - 'B'.
A certificate from the Auditors of the Company M/s Maloo & Co.,
Chartered Accountants, Kolkata, confirming compliance of conditions of
Corporate Governance as stipulated under the aforesaid Clause 49, is
annexed to this Report.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo.
Particulars required to be furnished under Section 217(1) (e) of The
Companies Act, 1956 read with Companies (Disclosure of Particulars in
the Report of Board of Directors) Rule, 1988.
i. Part A and Part B of the Rules, pertaining to conservation of
Energy and technology absorption, are not applicable to the Company
ii. Foreign Exchange earning and outgo
Earning Nil
Outgo Nil
Acknowledgement
Your Directors wish to convey their sincere appreciation to all of the
Company's employees and workers at all level for their enormous
personal efforts as well as their collective contribution to the
Company's performance.
Your Directors also wish to thank to all the shareholders, customers,
dealers, suppliers, bankers, financial institutions, Govt. authorities
and all the other business associates for the continued support given
by them to the Company and their confidence in its management.
Registered Office: By Order of the Board of Directors
3, Saheed Nityananda Saha
Sarani, 2nd Floor
Kolkata 700 001 J.Tiwari
(Chairman)
Date : 31st August, 2012
Mar 31, 2010
The Directors are pleased to present the 21st (Twenty First) Annual
Report together with the audited accounts for the year ended 31st March
2010.
Financial Performance
(Rs. In Lacs)
Particulars 2009-2010 2008-2009
Sales & other Income 9847.60 11087.65
Profit before Depreciation , Interest & Tax 11.20 15.18
Less : Depreciation 0.99 0.91
Interest 0.01 0.08
Profit before Tax 10.19 14.19
Less : Provision for Tax 1.70 01.78
Profit After Tax 8.48 12.41
Add : Profit brought forward from
previous year. 15.07 2.66
Balance Carried to B/S 23.56 15.07
Operations
During the year 2009-10, the company has a sales turnover of Rs. 98
Crore, against Rs. 110 Crore in the previous year.
The CompanyÃs Sales have declined to a little extent comparing to the
previous year.
Dividend
Since the company is currently at revival stage, the directors of the
company consider it prudent to conserve resources and therefore do not
recommend any dividend on equity shares for the financial year under
review.
Preferential Issue of Shares
In order to meet the growth objectives and to strengthen the financial
position i.e. to raise resources for long term working capital
requirements and for general corporate purpose, the company has issued
and allotted 32,60,035 equity shares of Rs.10/- each of the company at
par on 06th January, 2010 , to the promoters/ promoter groups on
preferential basis.
Consequent to the aforesaid allotment the paid up capital of the
Company has gone up from 22, 68,500 equity shares of Rs. 10/- each to
55, 28,535 equity shares of Rs. 10/- each. The aforesaid shares are yet
to be listed on the exchange(s).
Diversification of Business & Change of main objects in the Memorandum
of Association of the Company The Directors of your Company have been
considering various proposals to diversify into certain new business
ventures. For last couple of years, the company was engaged in the
business related to Plastic Compounds, Granules, PVC and related
Products. Currently these sectors promise a bright future and the
Company will also enlarge the area of operation of the Company. The
Company has discontinued the business of Gems & Jewellery and
diversified into the Business of Plastics, Granules and PVC and
consequently changed its main objects in the Memorandum & Association
by substituting the objects related to Plastics, Granules and PVC.
Change of Name
In order to facilitate the diversification of business, the company has
changed its name from SARLA GEMS LIMITED to KALPENA PLASTIKS LIMITED
with effect from 09th October, 2009. Necessary cer- tificate from the
Registrar of Companies, West Bengal has been obtained and due
compliances in this regards has been completed.
Connectivity with Depositories
In order to offer the shareholders the opportunity to hold the shares
in de mat mode and to facilitate the trading of shares in nationwide
terminal of stock exchanges , the company has obtained the connectivity
of both the depositories i.e. National Securities Depository Limited
(NSDL) & Central Depository Services (India) Limited (CDSL). The ISIN
No of the Company is INE 465K01016.
Revocation of Trading of Shares
The suspension of trading of companyÃs shares was revoked by Bombay
Stock Exchange vide their letter dated 9th October, 2009 we.f 16th
October, 2009. Now the shares of your company are traded in BSEÃs
online terminal.
Public Deposits
Your Company has not accepted any fixed deposit during the year under
review in terms of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposit) Rules, 1975 and hence no amount of
principal or interest was outstanding as at the Balance Sheet date.
Directors
In term of Articles 130 &131 of Articles of Association of the Company
Shri Jitnedra Tiwari, Director retires by rotation and being eligible,
offers himself for re-appointment at the ensuing Annual General
Meeting.
A brief resume of the Directors proposed to be appointed / re-
appointed nature of their expertise in specific functional areas etc.
as stipulated under clause 49 of the listing agreements with stock
exchanges, are provided elsewhere in the notice.
Directorsà Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
hereby confirm that:
- in preparation of the annual accounts, the appropriate accounting
standards have been fol- lowed. There are no material departures from
these applicable accounting standards.
- the directors have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company as at 31st March, 2010 and its profit for the year ended on
that date.
- the directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
- the directors have prepared the annual accounts on a going concern
basis.
Auditors
M/s Maloo & Co., Chartered Accountants, Auditors of the Company, retire
at the conclusion of the ensuing Annual General Meeting and are
eligible for re-appointment.
The Company has received letter from the auditor to the effect that
their re-appointment, if made, would be within the limits prescribed
under Section 224(1 B) of the Companies Act, 1956 and that they are not
disqualified for such re-appointment within the meaning of Section 226
of the Companies Act, 1956. Further, the Auditors have confirmed that
they have undergone the peer review process of the Institute of
Chartered Accountants of India (ICAI) and yet to receive the
certificate from the ÃPeer Review Boardà of ICAI. The observations of
the Auditors in the Report on Accounts read with the relevant notes are
self - explanatory.
Particulars of Employees
None of the employees employed throughout the year or part of the year
who was in receipt of salary of Rs. 2,00,000 /- or more per month or
Rs. 24,00,000 /- or more per annum, therefore, no details have been
provided or required under section 217 (2A) of the Companies Act, 1956
read with the Company (Particulars of Employees) Rules, 1975.
Industrial Relations
The Company continued to attract and retain qualified and diligent
employees. Various senior and junior employees were recruited to add to
the existing strength. During the year, your company maintained
harmonious and cordial Industrial Relations.
Management Discussion and Analysis
A Management Discussion and Analysis Report as required under the
Listing Agreement with the Stock Exchanges is annexed hereto and marked
as Annexure - ÃA.
Corporate Governance
The report on Corporate Governance as stipulated under clause 49 of the
listing agreement with the Stock Exchange(s), forms part of Annual
Report and marked as Annexure - ÃBÃ.
A certificate from the Auditors of the Company M/s Maloo & Co.,
Chartered Accountants, confirming compliance with conditions of
Corporate Governance as stipulated under the aforesaid Clause 49, is
annexed to this Report.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo.
Particulars required to be furnished under Section 217(1) (e) of The
Companies Act, 1956 read with Companies (Disclosure of Particulars in
the Report of Board of Directors) Rule, 1988.
i. Part A and Part B of the Rules, pertaining to conservation of
Energy and technology absorp- tion, are not applicable to the Company.
ii. Foreign Exchange earning and outgo
Earning Nil
Outgo Nil
Acknowledgement
Your Directors wish to thank and acknowledge the Banks, Government
Authorities, Dealers, Suppliers, Business Associates, and the CompanyÃs
valued customers, for their Assistance and Co-Operation and the
esteemed Shareholders for their continued trust and support.
The Directors also wish to acknowledge the committed and dedicated team
of Kalpena Plastiks Limited, whose unstinted hard work, efforts and
ideas has taken the Company on a path of growth and develop- ment.
3, Saheed Nityananda Saha Sarani For and on behalf of the Board
Kolkata-700 001
J. Tiwari
Date : 4th Day of September, 2010 Chairman
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