LADAM STEELS LIMITED
ANNUAL REPORT 1998-1999
To the members of LADAM STEELS LIMITED
The Directors have pleasure in presenting the 15th Annual Report and
Audited Accounts for the year ended March 31, 1999.
Shri R. Ravi Kumar retires at the forthcoming Annual General Meeting and
being eligible offers himself for reappointment.
The Company has not accepted any deposits from the public to which the
provisions of Section 58A of the Companies Act, 1956 and the Rules framed
thereunder are applicable.
M/s. C.R. More & Associates, Chartered Accountants, Mumbai, Auditors of the
Company hold office till the conclusion of the ensuing Annual General
Meeting and are eligible for reappointment. The notes to the accounts
referred to in the Auditors Report are self explanatory.
PARTICULARS OF EMPLOYEES
The information required under section 217 (2A) of the Companies Act,
1956 read with the (Particulars of Employees) Rules 1975, as amended is not
given as the same is NIL.
CONVERSATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
Information in accordance with the provisions of Section 217 (1)(e) of the
Companies Act, 1956 read with companies (Disclosures of Particulars in the
Report of Board of Directors) Rules, 1988 regarding regarding conversation
of energy, technology absorption and foreign exchange earnings and outgo is
given in the Annexure forming part of this report.
The Company has maintained excellent industrial relations. There has been
no labour trouble and the Company continues to enjoy cordial relations with
all its personnel.
The Board wishes to acknowledge the sincere services rendered by all the
staff members and to the valued clients, financial institutions and bankers
for their continued support.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
PLACE : THANE B.B. AGGARWAL
DATE : 07.09.1999. CHAIRMAN
ANNEXURE FORMING PART OF THE DIRECTORS REPORT
Particulars required under the Companies (Disclosures of Particulars in the
Report of Board of Directors) Rules, 1988.
CONSERVATION OF ENERGY
The Company is engaged in the process of rolling of hot rolled steel and
the standard procedure for the process of rolling of hot rolled steel is
adopted by the Company. No modifications can be made in the above process
as it may result in relaxation in quality of the finished product. The
Company has tied up with Maharashtra State Electricity Board (MSEB) for its
The Company does not have any technological tie-up with any Company and
hence the question of technology absorption does not aries.
FOREIGN EXCHANGE EARNINGS AND OUTGO
There have been no foreign exchange earnings or outgoing during the
relevant financial year.