antop hill warehousing co ltd Management discussions

ANTOP HILL WAREHOUSING COMPANY LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS Municipal Water Connection: The Brihan-Mumbai Municipal Corporation had promised to provide water connection to the Warehousing Complex. The contract for the plumbing works is already given in the current financial year. However, the same has not yet been provided. We are pursuing the matter with concerned authorities and hope to get the water connection during the current year. Property Tax: Property Tax for our premises is under survey and scrutiny by the B.M.C. Property Tax will be levied in due course. Progress of II Phase: The company had submitted the revised plans as service Industrial Estates and the IOD for the same has been obtained being valid upto September 24th `2006. The company has obtained conditional N.O.C. from Estate Department to apply for the C.C. Application for C.C. will be done in due course. Two Acre Land (Krishna Steel) : After vigorous follow up of Shri Upendra P. Doshi we have received a letter from the Collector (Mumbai City) granting us the 2 acres of land (3/147 CSH-KSS) adjoining to our 17 acre plot, subject to the terms & conditions. Accordingly we have given the undertaking to the Collector of Mumbai City accepting their terms and conditions for taking possession of the land. Now, we are awaiting for the draft lease and lease rent from the Collector (Mumbai City). Water Logging Problems: Information circular was issued to all the members in the month of December wherein the Chairman has taken the opportunity to inform you that with the vigorous efforts and persistent follow-up of Shri Upendra Doshi (Special Director) and Hon. Smt. Trishna Vishwasrao (Local Councilor) for last one year with the BMC authorities for the Construction of Box Drain from the gate of our complex and deepening of existing Shanti Nagar nalla has been finally approved and sanctioned by the Works Committee - City and Standing Committee of the Brihanmumbai Mahanagarpalika. The Works Committee - City and the Standing Committee in their meetings held on 25th November and 30th November 2005 respectively have approved and sanctioned the Budgeted Expense of Rs.2.50 crores approx. for the said work and have also appointed the Contractors for the same after completing the necessary formalities of their Tendering System. The Company has taken up disaster management steps in view of the water logging in the estate, viz; a. Dewatering Pumps are already installed. b. To overcome the water logging, a Walk Over BRIDGE has been prepared and installed to ensure, the members are able to reach to their office. Appreciation has been send by many members and the maintenance committee has to be appreciated for the same for their continuous follow up. Hiring of Roof Top for installation of Mobile Antennae : The Board decided in the benefit of the Members to allow installation of the Mobile Antennae towers on the terrace of buildings of the Complex.