Mar 31, 2015
Dear Members,
The Directors have pleasure in presenting this Directors Report on the
affairs of the Company together with the Audited Statement of Accounts
for the year ended on 31st March, 2015.
1. Financial Summary or performance of the company:
(Rs. in Lacs)
PARTICULARS YEAR ENDED YEAR ENDED
31.03.2015 31.03.2014
Income for the year 283.28 6,924.15
Profit before Interest,
Depreciation and Tax (10.61) (186.76)
Less: Financial charges 03.05 374.24
Depreciation 117.75 232.96
Provision for Taxations /
Deferred Tax (54.63) (274.83)
Prior Period Items /
Extra Ordinary Items - -
Net Profit/Loss for the
current year (76.72) (519.12)
2. OPERATIONS OF THE COMPANY
During the FY 2014-15, the Company has reported Net loss of Rs. (76.72)
lacs and in previous year Company has reported Net Loss of Rs. (519.72)
lacs
3. SHARE CAPITAL
The paid up Equity Share Capital as on March 31, 2015 was 6,300 lakhs.
During the year under review, the Company has neither issued any shares
nor granted stock options nor sweat equity
4. DIVIDEND
In view of the Loss incurred by the Company during the current
financial year, your Directors do not recommend payment of any dividend
for the year.
5. DIRECTORS
Mr. Nathan will retire by rotation at the ensuing Annual General
Meeting and being eligible offer himself for reappointment.
6. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS.
Details of Loans, Guarantees and Investments covered under the
provisions of Section 186 of the Companies Act, 2013 are given in the
note nos. 10 and 15 to the Standalone Financial Statements. The company
has not made any investments.
7. CORPORATE SOCIAL RESPONSIBILITY
Corporate Social Responsibility has been an integral part of the way in
which your company does business. Company had loss during Financial
Year 2014-15, so no CSR amount spend during Financial Year 2014-15.
8. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY
The Company has an internal financial control system commensurate with
the size and scale of its operations and the same has been operating
effectively
9. AUDIT COMMITTEE
Your Directors have, in compliance with the provisions of Section 177
of the Companies Act, 2013 and Clause 49 of the Listing Agreement,
constituted the Audit Committee of the Board. As on date, the members
of the Audit Committee are
Mr. RonindraNathGhose, Dr. V. K. Sukumaran and Mrs.
SandhyaManoharBeedkar
10. DIRECTORS / KEY MANAGERIAL PERSONNEL
Name of Director Mrs. Mr. RonindraNathGhose SandhyaManoharBeed
Type Non-Executives Non-Executive Independent Independent Director
Director
Date of Birth 20/04/1978 04/01/1950
Date of Appointment 14/08/2014 11/02/2013
Qualification Graduate Mechanical Engineer
No. of Equity Shares NIL NIL
Expertise in Specific Legal and Corporate Business Consultant
Directorships held in 1 NIL other Companies
Particulars of Committee NIL NIL Chairmanship/ Members- hip held in
other Companies
Relationship with other None None Directors inter-se
Mr. C.D.Nathan Dr. V. K. Sukumaran
Executive Director Managing Director And CFO
26/10/1957 28/01/1966
10/01/2013 17/02/1998
B.Com Mechanical Engineer
NIL 83,050,800
Finance Business Consultant
2 3
NIL NIL
None None
11. BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual performance
evaluation of its own performance, the individual directors as well as
the evaluation of the working of its Committees. The manner in which
the evaluation has been carried out has been explained in the Corporate
Governance Report.
12. MEETINGS
During the year seven Board Meetings were convened and held, the
details of which are given more specifically in the Corporate
Governance Report.
13. COMMITTEES OF THE BOARD
The details of all the Committees of the Board including the Audit
Committee, along with their charters, composition and meetings held
during the year, are provided in the Report on Corporate Governance
which forms part of this Annual Report.
14. DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134(5) of the Companies Act,
2013, the Board of Directors of your Company hereby confirms:
i) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures, if any;
ii) your Directors had 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 March 31, 2015 and its loss for the year ended on
that date;
iii) your Directors had 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
iv) your Directors had prepared the Annual Accounts for the year ended
March 31, 2015 on a going concern basis.
v) the Directors had laid down internal financial controls which are
followed by the company and that such internal financial controls are
adequate and are operating effectively.
vi) the Directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems are
adequate and operating effectively.
15. RELATED PARTY TRANSACTIONS
All related party transactions that were entered into during the
financial year were on arms length basis and were in the ordinary
course of business. There are no materially significant related party
transactions made by the Company with Promoters, Directors, Key
Managerial Personnel or other designated persons which may have a
potential conflict with the interest of the company at large.
All Related Party Transactions are placed before the Audit Committee as
also the Board for approval, wherever required. Prior omnibus
approvals of the Audit Committee were obtained for the Transactions of
repetitive nature. The transactions entered into pursuant to the
omnibus approval of the Audit Committee were placed before the Audit
Committee for its review on a quarterly basis. The Company has framed a
policy on Related Party Transaction for purpose of monitoring of such
transactions.
16. FIXED DEPOSITS
Your Company has not accepted or renewed any deposits under Chapter V
of Companies Act, 2013 during the year under review.
17. AUDITORS
a) STATUTORY AUDITORS
Pursuant to the provisions of Section 139 of the Companies Act, 2013
and the Rules framed there under, as amended from time to time, the
Board of Directors ratify the appointment of M/s Maheshwari& Company,
Chartered Accountants (Firm Registration No.105834W), as Auditors of
the Company to hold office from the conclusion of this Annual General
Meeting (AGM) till the conclusion of the next AGM of the Company to be
held in the year 2016.
The Auditor's report on the Financial Statements of the Company for the
financial year 2014-15 contain qualifications, reservations or adverse
remark. The board is in the process to resolve the qualifications at
the earliest.
b) SECRETARIAL AUDITORS
Pursuant to provision of Section 204 of Companies Act, 2013 and The
Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, the company is in process to undertake to Secretarial Audit.
18. CORPORATE GOVERNANCE
Your Company as listed, in compliance with Clause 49 of the Listing
Agreement, a detailed Report on Corporate Governance is enclosed as a
part of this Annual Report in regards to compliance of the conditions
of Corporate Governance as stipulated under Clause 49 of the Listing
Agreement, is appended to this Annual Report and forms part of this
Directors' Report.
19. EXTRACT OF ANNUAL RETURN
The details forming part of the extract of the Annual Return in form
MGT 9 is annexed herewith as "Annexure-A" to this report.
20. PARTICULARS OF EMPLOYEES
None of the employee has received remuneration exceeding the limit as
stated in rule 5(2) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014.
21. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
In view of the nature of activities which are being carried on by the
Company, provisions regarding conservation of energy and technology
read with Section 134(3)(m) of the Companies Act, 2013 and Rule 8(3) of
the Companies (Accounts) Rules, 2014 are not applicable.
22. FOREIGN EXCHANGE EARNINGS AND OUTGO
There were no Foreign Exchange earnings or outgo during the year under
review.
23. SIGNIFICANT AND MATERIAL ORDERS
There were no significant and material orders passed by any Regulators
or Courts or Tribunals during the year March 31, 2015 impacting the
going concern status and company's operations in future.
24. Acknowledgments:
The Directors express their deep gratitude and thank the Central and
State Governments as well as their respective Departments and
Development Authorities connected with the business of the Company,
contractors and consultants and also Banks, Financial Institutions,
shareholders debenture holders and employees of the Company for their
continued support and encouragement.
For and on behalf of the Board of Directors
Place: Navi Mumbai
Dated:13th August, 2015 Dr V K Sukumaran
Chairman& Managing Director
DIN: 01097429
Mar 31, 2014
Dear Members,
The Directors are pleased to present the 16thAnnual Report together
with Audited Financial Accounts of your Company for the Financial Year
ended March 31,2014:
(Rs. in Lacs)
FINANCIAL RESULTS 2013-14 2012- 2013
Income for the year 6,924.15 20,603.99
Profit Before Interest, Depreciation and Tax (186.76) 1452.24
Less: Finance Charges 374.24 615.61
Depreciation 232.96 180.55
Provision for Taxations / Deferred Tax (274.83) 236.76
Prior Period Items / Extra Ordinary Items -
Net Profit/Loss for the current year (519.12) 419.31
OPERATIONS
During the FY 2013-14, the Company has reported Net loss of Rs.
(519.12) lacs and in previous year Company has reported Net profit of
Rs. 419.31 lacs.
DIVIDEND
In view of the Loss incurred by the Company during the current
financial year, your Directors do not recommend payment of any dividend
for the year.
DIRECTORS
Mr. Nathan will retire by rotation at the ensuing Annual General
Meeting and being eligible offer himself for re- appointment.
Dr. V. K. Sukumaran has been appointed as Managing Director of the
Company during the financial Year 2013-14.
The Board of Directors at its meeting held on 31st July, 2014 appointed
Mrs. Sandhya Manohar Beedkar as an Additional and Independent Director
of the Company. She will hold office upto the date of ensuing Annual
General Meeting.
Further Board has decided to appoint Mrs. Sandhya Manohar Beedkar, Mr.
Jaywant Bolaikar and Mr. Ronindra Nath Ghose as Independent Directors
of the Company pursuant to provisions of the Companies Act, 2013 and
rules made thereunder The Company has received notices in writing from
members proposing the appointment of the Independent Directors of the
Company for the office of Director, subject to shareholders'' approval
to be obtained at the ensuing 142nd Annual General Meeting of the
Company.
AUDITORS
M/s. Maheshwari & Co., Chartered Accountants, Auditors of the Company
retire at the ensuing General Meeting and being eligible, offer
themselves for reappointment for 4 consecutive years till the
conclusion of 20th Annual General Meeting in the calendar year 2018
AUDIT COMMITTEE
Your Directors have, in compliance with the provisions of Section 292A
of the Companies Act, 1956 and Clause 49 of the Listing Agreement,
constituted the Audit Committee of the Board. As on date, the members
of the Audit Committee are Mr. Jaywant Bolaikar, Dr. V. K. Sukumaran
and Mr. Ronindra Nath Ghose.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Board of Directors of your Company hereby confirms:
that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departure, if any;
that 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 the end of the financial year and of the Profit
and Loss of the Company for the period;
that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
That the Directors have prepared the annual accounts on a ''going
concern'' basis.
MANAGEMENT DISCUSSION & ANALYSIS
A separate Report on Management Discussion & Analysis is appended to
this Annual Report and forms part of this Directors''Report.
CORPORATE GOVERNANCE
Your Companyas listed,in compliance with Clause 49 of the Listing
Agreement, a detailed Report on Corporate Governance is enclosed as a
part of this Annual Report. A certificate from a Practising Company
Secretary regarding compliance of the conditions of Corporate
Governance as stipulated under Clause 49 of the Listing Agreement, is
appended to this Annual Report and forms part of this Directors''
Report.
DEPOSITS
The Company has accepted Public Deposits from the public, during the
Financial Year 2013-14. The Company is in the process of complying
necessary Rules and Regulations of Companies Act, 1956.
ADDITIONAL INFORMATION
The information relating to Conservation of Energy, Technical
Absorption and Foreign Exchange Earnings and Outgo as required to be
disclosed pursuant to Section 217(1)(e) of the Companies Act, 1956 read
with The Companies (Disclosure of particulars in the report of Board of
Directors) Rules, 1988, as amended, is not applicable to the Company.
The requirement of the provisions of Section 217(2A) of the Companies
Act, 1956, read with The Companies (Particulars of Employees) Rules,
1975, as amended, is not applicable to the Company.
ACKNOWLEDGEMENT
Your Directors place on record their appreciation for the contributions
made by the employees at all levels enabling the Company to achieve the
performance during the year under review.
Your Directors are thankful to the Central Government, Government,
Government agencies, bankers, local bodies, Registrar of Companies,
stock exchanges, depositories, shareholders, customers, vendors,
associates of the Company and other related organizations for their
continuous co-operation and support in progress of the Company and also
look forward to their continued confidence and trust in the Company.
For and on behalf of the Board
Dr. V.
K.Sukumaran
Chairman & Managing Director
Registered Office:
507, Sai Sangam, Sector 15,
CBD Belapur,
Navi Mumbai,
Maharashtra-400 706.
Date : 14thAugust, 2014
Place: Navi Mumbai
Mar 31, 2013
To The Members,
The Directors are pleased to present the Annual Report together with
Audited Financial Accounts of your Company for the Financial Year ended
March 31, 2013:
FINANCIAL RESULTS
(Rs. in Lacs)
Particulars 2012-2013 2011-2012
Revenue from Operations 20,585.03 14,408.27
Profit Before Interest, Depreciation and 19512.85 13411.79
Tax
Less: Finance Charges 615.61 339.46
Depreciation 180.55 134.65
Provision for Taxations / Deferred Tax 236.76 247.71
Prior Period Items / Extra Ordinary Items - (9.34)
Net Profit/Loss for the current year 419.31 562.26
OPERATIONS
During the FY 2012-13, the Company reported 42.86% growth in gross
revenue from operations of Rs 20,585.03 lacs as against Rs. 14,408.27
lacs during the FY 2011-12. For the year 2012-13, the Company recorded
Profit after Tax of Rs. 419.31 lacs as against previous year of Rs.
562.26 lacs.
SUB-DIVISION OF EQUITY SHARES
During the year, the face value of Equity Shares of the Company was
sub-divided from Rs. 10/- to Re.1/- each vide ordinary resolution
passed in the Extra Ordinary General Meeting held on 08th February,
2013.
BONUS ISSUE
During the year Company made Bonus Issue of Equity Shares in the
proportion of 5:2 vide Special resolution passed in the Extra Ordinary
General Meeting held on 22nd April, 2013.
DIVIDEND
To conserve resources for the long term needs of the Company, your
Directors do not recommend payment of any dividend for the year.
DIRECTORS
Mr. Jaywant Bolaikar will retire by rotation at the ensuing Annual
General Meeting and being eligible offer himself for re-appointment.
Mr. Nathan has been appointed as Whole-Time Director of the Company
during the financial Year 2012-13.
Mr. Nathan, Mr. Jayesh Raminkalal Udeshi and Mr. Ronindra Nath Ghose
have been appointed as additional directors by the Board during the
year and shall hold office up to the date of the ensuing Annual General
Meeting pursuant to Section 260 of the Companies Act, 1956. The Company
has received notice from its members the candidatures of Mr. Nathan,
Mr. Jayesh Raminkalal Udeshi and Mr. Ronindra Nath Ghose for the office
of Directorship under Section 257 of the Companies Act, 1956.
AUDITORS
M/s. Borkar & Muzumdar, Statutory Auditors of the Company retire at the
conclusion of the ensuing Annual General Meeting of the Company. At the
ensuing Annual General Meeting, Board of Directors of the Company
recommends the appointment of M/s. Maheshwari & Company, Chartered
Accountants, as the Statutory Auditors of the Company for the financial
year 2013-14. The Company has obtained a certificate from them stating
that their appointment, if considered and approved, will be within the
limits of Section 224(1B) of the Companies Act, 1956. The Company has
also obtained a certificate from them stating that they have subjected
themselves to the Peer Review Process of Institute of Chartered
Accountants of India (ICAI).
AUDIT COMMITTEE
Your Directors have, in compliance with the provisions of Section 292A
of the Companies Act, 1956 and Clause 49 of the Listing Agreement,
constituted the Audit Committee of the Board. As on date, the members
of the Audit Committee are Mr. Ronindra Nath Ghose, Mr. Jaywant
Bolaikar and Dr. V. K. Sukumaran.
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Board of Directors of your Company hereby confirms:
1) that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departure, if any;
2) that 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 the end of the financial year and of
the Profit and Loss of the Company for the period;
3) that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
4) that the Directors have prepared the annual accounts on a ''going
concern'' basis.
MANAGEMENT DISCUSSION & ANALYSIS
A separate Report on Management Discussion & Analysis is appended to
this Annual Report and forms part of this Directors'' Report.
CORPORATE GOVERNANCE
Your Company as listed, in compliance with Clause 49 of the Listing
Agreement, a detailed Report on Corporate Governance is enclosed as a
part of this Annual Report. A certificate from Statutory Auditors
regarding compliance of the conditions of Corporate Governance as
stipulated under Clause 49 of the Listing Agreement, is appended to
this Annual Report and forms part of this Directors'' Report.
DEPOSITS
The Company has accepted Public Deposits from the public, during the
Financial Year 2012-13. The Company is in the process of complying
necessary Rules and Regulations of Companies Act, 1956.
ADDITIONAL INFORMATION
The information relating to Conservation of Energy, Technical
Absorption and Foreign Exchange Earnings and Outgo as required to be
disclosed pursuant to Section 217(1)(e) of the Companies Act, 1956 read
with The Companies (Disclosure of particulars in the report of Board of
Directors) Rules, 1988, as amended, is not applicable to the Company.
The requirement of the provisions of Section 217(2A) of the Companies
Act, 1956, read with The Companies (Particulars of Employees) Rules,
1975, as amended, is not applicable to the Company.
ACKNOWLEDGMENT
Your Directors place on record their appreciation for the contributions
made by the employees at all levels enabling the Company to achieve the
performance during the year under review.
Your Directors are thankful to the Central Government, Government,
Government agencies, bankers, local bodies, Registrar of Companies,
stock exchanges, depositories, shareholders, customers, vendors,
associates of the Company and other related organizations for their
continuous co-operation and support in progress of the Company and also
look forward to their continued confidence and trust in the Company.
For and on Behalf of the Board
Sd/-
Dr. V. K. Sukumaran
Chairman and Managing Director
Registered Office:
507, Sai Sangam, Sector 15,
CBD Belapur,
Navi Mumbai,
Maharashtra - 400 614.
Date: 13th August, 2013
Place: Navi Mumbai
Mar 31, 2012
To The Members,
The Directors are pleased to present the Annual Report together with
Audited Financial Accounts ofyour Company for the Financial Year ended
March 31,2012:
FINANCIAL RESULTS 2011-2012 2010-2011
(Rs.) (Rs.)
Total Income 1,443,590,084 602,542,618
Profit before Taxes 81,930,540 47,220,381
Provisions for Taxation 25,704,982 15,623,146
Profit after Taxes 56,225,558 31,597,235
OPERATIONS
During the FY 2011-12, the Company reported gross revenue from
operations of Rs. 14,408.27 lacs as against Rs. 6,025.13 lacs during
the FY 2010-11. For the year 2011-12, the Company recorded PAT of Rs.
562.25 lacs as against previous year of Rs. 315.97 lacs.
INTIAL PUBLIC OFFER
The Company has successfully completed the process of Initial Public
Offer and allotted 1,00,00,000 equity shares of Rs. 10/- each at the
premium of Rs. 45/-. At present, the Equity shares of the Company are
listed on BSE & NSE w.e.f. 18 th July, 2012. The management of the
Company is thankful to the investors for overwhelming response in the
Initial Public Offer of the Company.
DIVIDEND
To conserve resources for the long term needs of the Company, your
Directors do not recommend payment of any dividend for the year.
DIRECTORS
Mr. Jaywant Bolaikar and Mr. Roy Daniel will retire by rotation at the
ensuing Annual General Meeting and being eligible offer himself for
re-appointment.
Ms. Mohua Ranendranath Ghosh has been appointed as additional director
by the Board during the year and shall hold office up to the date of
the ensuing Annual General Meeting pursuant to Section 260 of the
Companies Act, 1956. The Company has received notice from one of its
members the candidature of Ms. Mohua Ranendranath Ghosh for the office
of Directorship under Section 257 of the Companies Act, 1956.
AUDITORS
M/s Borkar & Muzumdar, Statutory Auditors of the Company retire at the
conclusion of the ensuing Annual General Meeting of the Company. The
Company has obtained a certificate from them stating that their
appointment, if considered and approved, will be within the limits of
Section 224(1B) of the Companies Act, 1956. The Company has also
obtained a certificate from them stating that they have subjected
themselves to the Peer Review Process of Institute of Chartered
Accountants of India (ICAI). Being eligible, they offer themselves for
re-appointment as Statutory Auditors for the FY 2012-13.
AUDIT COMMITTEE
Your Directors have, in compliance with the provisions of Section 292A
of the Companies Act, 1956 and Clause 49 of the Listing Agreement,
constituted the Audit Committee of the Board. As on date, the members
of the Audit Committee are Mr. Jaywant Bolaikar, Dr. V. K. Sukumaran
and Mr. Roy Daniel.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Board of Directors of your Company hereby confirms:
1) that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departure, if any; .
2) that 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 the end of the financial year and of
the Profit and Loss of the Company for the period;
3) that the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
4) that the Directors have prepared the annual accounts on a going
concern basis.
MANAGEMENT DISCUSSION & ANALYSIS
A separate report on Management Discussion & Analysis is appended to
this Annual Report and forms part of this Directors' Report.
CORPORATE GOVERNANCE
Your Company was not listed as on 31st March, 2012 and its shares got
listed on BSE & NSE on 18th July, 2012. In compliance with Clause 49 of
the Listing Agreement, a detailed Report on Corporate Governance is
enclosed as a part of this Annual Report. A certificate from a
Practising Company Secretary regarding compliance of the conditions of
Corporate Governance as stipulated under Clause 49 of the Listing
Agreement, is appended to this Annual Report and forms part of this
Directors' Report.
DEPOSITS
The Company has accepted Public Deposits from the public, during the
Financial Year 2011-12. The Company is in the process of complying
necessary Rules and Regulations of Companies Act, 1956.
ADDITIONAL INFORMATION
The information relating to Conservation of Energy, Technical
Absorption and Foreign Exchange Earnings and Outgo as required to be
disclosed pursuant to Section 217(l)(e) of the Companies Act, 1956 read
with The Companies (Disclosure of particulars in the report of Board of
Directors) Rules, 1988, as amended, is not applicable to the Company.
The requirement of the provisions of Section 217(2A) of the Companies
Act, 1956, read with The Companies (Particulars of Employees) Rules,
1975, as amended, is not applicable to the Company.
ACKNOWLEDGEMENT
Your Directors place on record their appreciation for the contributions
made by the employees at all levels enabling the Company to achieve the
performance during the year under review.
Your Directors thank the Central Government, Government, Government
agencies, bankers, local bodies, Registrar of Companies, stock
exchanges, depositories, shareholders, customers, vendors, associates
of the Company and other related organizations for their continuous
co-operation and support in progress of the Company and also look
forward to their continued confidence and trust in the Company.
For and on Behalf of the Board
Dr. V. K. Sukumaran
Chairman and Managing Director
Registered Office:
507, Sai Sangam, Sector 15,
CBD Belapur, Navi Mumbai,
Maharashtra-400 706
Date: 26/09/2012
Place: Navi Mumbai
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