GORDON HERBERT (INDIA) LIMITED
Your Directors have pleasure in presenting the 15th Annual Report and the
Audited Statement of Accounts of the Company for the year ended 31st
December 1998, together with the Report of the Auditors thereon.
During the year under review, the turnover of the company was Rs. 39396
lacs as against Rs. 22822 lacs during the previous year. T company has made
a net profit of Rs. 3.71 lacs. The Company hopes to improve its operations
with the expected improvement in t economy.
During the period under review Mr.D. N. Gupta and Mr. J. P. Gupta have
resigned from the Board w.e. f. ,6.10.98 and 3-12-98 respectively.
The Board while noting the resignation placed on record its appreciation of
the contribution made by Mr. D. N. Gupta and Mr. J. P. Gup Mr. A. S. Rajput
and Mr. M. F. Mehta, Directors retire by rotation at the forthcoming Annual
General Meeting and being eligible of themselves for reappointment.
PARTICULARS OF EMPLOYEES UNDER SECTION 217 (2A) OF THE COMPANIES ACT, 1956.
None of the employees of the Company is covered Under Section 217 (2A) of
the Companies Act, 1956 and the rules framed thereunder.
The company has not accepted any deposits from the Public in terms of the
Companies (Acceptance of Deposits) Rules, 1975 during the Financial Year
ended 31st December, 1998.
CONSERVATION OF ENERGY
Presently the main activity of the Company is Job fabrication using
1. Proper equipment utilization has reduced energy consumption
2. Proper planning has increase productively in terms of tones of
fabrication per manday.
3. Wastage of materials has been reduced by proper designing of job works.
FOREIGN EXCHANGE USED AND EARNED - NIL
M/s. Bansal & Co., Chartered Accountants, the present Auditors of the
Company will retire at the conclusion of the forthcoming Annual General
Meeting and being eligible offer themselves for re-appointment. The Company
has received from them certificate to the effect th their re-appointment if
made would be in accordance with section 224 (1B) of the Companies Act,
DELISITING OF SECURITIES
The Company has applied for delisting of securities with Mumbai and Delhi
Stock Exchanges on 29th December, 1997 and 18th February 1998 respectively,
as the shares of the company are quite infrequently traded and also company
has accumulated losses.
Your Directors wish to place on record their deep appreciation of the
continued support of shareholders and devoted services rendered by the
executives and employees at all levels.
For and on behalf of the Board of Directors
PLACE : NEW DELHI J. R. Gupta A. S. Rajput
DATE : APRIL 19,1999 DIRECTOR WHOLE-TIME. DIRECTOR