| To the Members of Ladies & Gentleman,
The Directors hereby Submit the 22nd Annual Report on the business and
operations of the company together with the Audited Statements of
Accounts for the year ended 31st March, 2009.
The Company has managed to settle the large liabilities with banks and
also the statutory liabilities during the year. Since the major
liabilities are cleared, the Management is attempting to find out
alternative finance from different sources to build up working capital
funds.
We are hopeful that the company will be able to function and start
exports once the working capital is raised either from Bank or from
other business contacts. At efforts are made on this line
A. CONSERVATION OF ENERGY
The total energy consumption per unit of production. NIL
B. TECHNOLOGY ABSORPTION
During the year under review, the company has not carried on any
research and development programme or employed any foreign technology
for manufacture.
2. AUDIT COMMITTEE
You are aware, our company is chronically sick. Only tree Directors
continue to be on the Board. Under these circumstances, no audit
committee is separately appointed but the Board of Directors, directly
monitor the business operations periodically.
3. PARTICULARS OF EMPLOYEES
There was no employee during the year under report attracting the
requirements of section 217(2A) of the companies Act, 1956 read with
the companies (Particulars of employees) Rules, 1975 as amended in
1994.
4. DIRECTORS RESPOSIBILITY STATEMENT: -
Pursuant to the requirement under Section 217 (2AA) of the companies
Act, 1956 with respect to Directors Responsibility Statement, it is
here by confirmed that:
a) For the preparation of the annual accounts for the financial year
31st March, 2009, the applicable accounting standards have been
followed along with proper explanation relating to material departure.
b) The Directors have selected such accounting policies and applied
them constantly and made judgments and estimates that are reasonable
and prudent so as to give a fair view of the state of affairs of the
company at the end of the financial year and of the profit or loss of
the company for the year under review.
c) 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 for preventing and detecting fraud and other
irregularities.
d) The Directors have prepared the accounts for the financial year
ended 31st March, 2009 on a 'going concern' basis.
5. INDUSTRIAL RELATIONS
During the year, relations among the Executives, Staff and the
employees of the company were cordial and your Directors place on
record their appreciation for the efficient services rendered by them.
6. ACKNOWLEDGEMENT
Your Directors thank The Federal Bank Limited, State Bank of India,
Stock Exchanges, Government Authorities/ Agencies, Customers, Dealers,
Suppliers and Shareholders for the co-operation, guidance, support and
assistance provided by them during the year under report.
For and behalf of the Board of Directors
Sd/-
Kochi-6 A.H.Mohamed Babu
28th August, 2009 Managing Director/ Chairman | 