EUROPLAST INDIA LIMITED
Your Directors have pleasure in presenting the 11th Annual Report of the
Company together with the Audited Accounts for the period ended on 30th
The Company is setting up a 100% Export Oriented Unit to manufacture
carrier and shopper's bags. The construction of the factory building has
been completed. The Company is taking steps for completing the project and
start commercial production.
Shri Manoj Trivedi, the Director of the Company passed away on 30.7.1996.
The Board regrets his sad demise and places on record its appreciation for
valuable contribution made by him.
During this year Shri J. C. Khandelwal, Shri Stuart Jules Paskin and Shri
Robert Wagner have resigned from the Board. The Board places on record its
appreciation for valuation contribution made by them.
In accordance with the provisions of the Companies Act, 1956 and the
Company's Article of Association, Shri Rajeev Khandelwal, Director, retires
by rotation at the forthcoming Annual General Meeting of the Company and
being eligible offers himself for re-appointment.
The Company has not accepted any Fixed Deposit from the public during the
period ended on 30th June, 1996.
The notes to the Accounts referred to in the Auditors' Report are self
explanatory and therefore do not call for any further comments.
M/s. Mittal & Mittal, Chartered Accountants retire and are eligible for re-
appointment as auditors of the Company.
CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Provisions relating to conservation of energy and technology absorption are
not applicable to the Company.
There is no earning in Foreign Exchange through export of goods during the
year (Previous year earning Rs. 4,36,46,741) but company has spent Rs.
2,34,40,754 on Foreign travel and import of machinery. (Previous year Rs.
PARTICULARS OF EMPLOYEES AS PER SECTION 217(2A) OF THE COMPANIES ACT 1956.
The provisions of Section 217(2A) of the Companies Act 1956 are not
applicable to the Company.
The Directors wish to convey their appreciation for the dedicated service
of its employees at all levels and its customers, suppliers and bankers for
all the co-operation extended by them to the Company.
For and on behalf of the Board
RAJEEV KHANDELWAL JAIPRAKASH KAMATH
DIRECTOR EXECUTIVE DIRECTOR
PLACE : MUMBAI
DATED : 2ND DECEMBER, 1996.