bharatpur nutritional products ltd Directors report
BHARATPUR NUTRITIONAL PRODUCTS LIMITED
(Formerly known as Dalmia Industries Limited)
ANNUAL REPORT 2001-2002
DIRECTORS REPORT
For the year ended 31st March, 2002
We have pleasure in presenting the SIXTY FOURTH Annual Report together with
the audited Statements of Account of the Company for the year ended 31st
March, 2002.
OPERATIONAL HIGHLIGHTS:
Due to overall decline in the market size and financial stringencies, the
sales and other income during the period under report decreased to Rs.15.89
lacs from Rs. 133.09 lacs as compared to previous period. During the year
under review, the company traded in herbal raw material.
DIRECTORS:
During the year under review, Shri V.K. Dhawan resigned from the
directorship of the Company.
Shri Satish Gupta has been appointed as an additional director on the Board
w.e.f 31.12.2001. He holds his office until the conclusion of the
forthcoming Annual General Meeting.
A notice pursuant to the provisions of Sec 257(1) of the Companies Act,
1956 has been received from shareholder intending to propose his
appointment at the forthcoming Annual General Meeting.
Shri R.K. Gupta retires by rotation at the forthcoming Annual General
Meeting and being eligible for appointment, offer his candidature for the
same.
AUDITORS:
M/s Lodha & Co., Chartered Accountants, retire and being eligible for
appointment under Section 224 of the Companies Act, 1956 offer themselves
for reappointment members are requested to appoint Auditors for the current
year and to fix their remuneration.
SUBSIDIARY COMPANIES:
The Directors Reports and Accounts of the subsidiary companies for the
year ended 31st March, 2002, are annexed as required under Section 212 of
the Companies Act, 1956.
EMPLOYEES:
There is no employee in receipt of remuneration as specified under the
provisions of Section 217(2A) of the Companies Act, 1956, read with the
Companies (Particulars of Employees) Rules, 1975, as amended.
DEPOSITS:
Fixed Deposits amounting to Rs. 8.53 lacs in respect of 106 depositors have
matured but same has not been paid/claimed upto 31st March2002.
CONSERVATION OF ENERGY/TECHNOLOGY ABSORPTION:
Particulars as required to be disclosed as per Companies (Disclosures of
particulars in the report of Board of Directors) Rules, 1988, are not given
as there was no production during the period under review.
FOREIGN EXCHANGE EARNING AND OUTGO:
Particulars with regard to foreign exchange earnings and outgo appear in
relevant Schedules of Balance Sheet.
GENERAL:
Auditors observations are self-explanatory and do not require our further
comments.
DIRECTORS RESPONSIBILITY STATEMENT:
Your Directors confirm that they have:
1. followed the applicable accounting standards in the preparation of the
annual accounts alongwith proper explanations relating to material
departures.
2. selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the company for period ended
31st March, 2002.
3. taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for
safeguarding the assets of the company and for preventing and detecting
fraud and other irregularities.
4. prepared the annual accounts on a going concern basis.
ACKNOWLEDGEMENT:
The Directors express their gratitude to the Financial Institutions, Banks
and various other agencies for the cooperation extended to the company.
The Directors take this opportunity to thank the Shareholders, Depositors
and Stockists for the confidence reposed by them in the Company.
The employees of the Company contributed significantly to the performance
of the Company. The Directors take this opportunity of thanking them and
hope that they will extend their enthusiasm and commitment to excellence in
the years to come.
By Order of the Board
Place: New Delhi R.K. GUPTA SANJAY SHARMA
Dated: 23th July, 2002 Director Whole time Director