TECHNOLOGY PLASTICS LIMITED
To the Members,
Your Directors herewith present to you the Annual Report together with the
audited accounts for the year ended 31st March'94.
The Project of the Company has been completed and the company has procured
all the imported equipment. A sum of Rs.1,03,31,040 has been capitalised
being pre-operative expenses as on 31.3.94.
The Company has commenced production during the financial year 1994-95. The
product of the Company has been well received due to the high quality
obtained by sophisticated technology. The Order position for the bottles
are comfortable and we plan to achieve 90% utilisation very shortly.
The Company had come out with public issue of Rs.238 lakhs which was fully
The Company is planning to expand its operation to serve the western and
northern markets. Since the company has adopted a unique production system
for the first time in the country, it is convenient to decentralise thee
production system. Therefore the company is planning to set up bottle
blowing unit near Bombay & Delhi to serve the regional demand.In view of
this the company is planing to go for rights issue for expansion programme
Mr. C.A. Salam and Mr. C.S. Jamshed Directors retire in this General
Meeting and are eligible for re-appointment.
Particulars referred u/s.217 (1) (e) of the Companies Act, 1956
The Clause pertainig to conservation of energy and technology absorption is
not applicable as the project is not implemented as on 31st March'94. The
foreign exchange earnings/outgo for the financial year ended 31st March is
APPOINTMENT OF AUDITORS:
Members are requested to appoint Auditors of the Company to hold office
from conclusion of this meeting till the conclusion of next Annual General Meeting and fix their remuneration.
M/s. Ramesh & Associates, Chartered Accountant of Madras retire at this
Annual General Meeting and are eligible for re-appointment.
Particulars referred u/s.217 (2A) of the Companies Act,1956
Particulars are NIL as there are no employees drawing remuneration more
than Rs.12,000/- or more per month and/ or Rs.1,44,000/- or more per annum.
Your Directors place on record their appreciation for the co-operation
extended by the financial institutions, bankers, shareholders and employers
and look forward to their continued patronage.
Date : 29.11.94
for and on behalf of the
Board of Directors