asean industrial structures ltd Directors report

ASEAN INDUSTRIAL STRUCTURES LIMITED ANNUAL REPORT 2000-2001 DIRECTORS REPORT To, The Members, The Board of Directors is pleased to present their Seventh Annual Report together with the Audited Statement of Accounts for the period ended 30th June, 2001. DIVIDEND: As the Company is making, your Directors have not recommended any Dividend for the year June 30, 2001. PROJECT: The Companys efforts are concentrated on business development in the field of Turnkey Solution of the Infrastructure projects and your Directors are hopeful to achieve the break-through in the matter. INCOME: The company has Incurred Net Loss of Rs.2794544/- during the year under review. DIRECTORS: Your Board of Directors continues to be headed by Mr. N.T. Vaishnav as a Chairman of the Company. Mr. N.T. Vaishnav, who retire by retire by rotation and is eligible for re-appointment. DIRECTORS RESPONSIBILITY STATEMENT: The Board of Directors of the Company confirms: i. that in the preparation of Annual Accounts, the applicable standards have been followed and there has been no material departure; ii. that the accounting policies ware applied consistently and the directors made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of the affairs of the Company as at 31st March, 2001 and of the profit/loss of the Company for the year ended on that date; iii. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for proper and for preventing and detecting fraud and other irregularities; iv. that the annual accounts have been prepared on a going concern basis. AUDITORS: M/s. D. BURMAN & Associates, Chattered Accountants, retires at the ensuing Annual General meeting and are eligible for re-appointment. AUDITORS REPORT: The Auditors report to the shareholder do not contain any qualification. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN D(CHANGE EARNINGS AND OUTGO: Information pursuant to Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars In the Report of Board of Directors) Rules, 1988 are given in Annexure-A and forms part of this report. PERSONNEL: During the yew under review, the industrial relations continue to be cordial. Your Directors wish to place on record their appreciation for dedicated and sincere services rendered by the staff. PARTICULARS OF EMPLOYEES: There are no employees drawing remuneration in excess of the limits prescribed under Section 217(2A) of the Companies Act 1956 read with the Companies (Particulars of Employees) Rules, 1975, and hence the member of furnishing the information hereunder does not arise. OTHER DISCLOSURES: In respect of the disclosures required to be made under the guidelines an Employees Stock Option Scheme, your directors submit that as the company has not exercised the scheme of Employee Stock Option, the same is not applicable to the company. CORPORATE GOVERNANCE: Pursuant to clause 49 of the Listing Agreement, a report on Corporate Governance is given in Annexure-B. ACKNOWLLDGEMENT: Your Directors wish to thank and acknowledge the cooperation and assistance extended by the concerned Agencies/Institutions and all those associated with the company during during year under review. For and on behalf of the Board of Directors ASEAN INDUSTRIAL STRUCTURES LTD. Sd/- PLACE: BARODA (N.T. VAISHNAV) DATE : 22/11/2001 CHAIRMAN ANNEXURE TO THE DIRECTORS REPORT Particulars pursuant to Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988: A. Conservation of Energy : Not Applicable B. Research & Development : Not Applicable C. Technology Absorption, adoption and innovation: Not Applicable D. Foreign Exchange Earning and Outgo : No E. Particulars of Employees as per Section : Nil 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as annexed for the year ended 30th June, 2001