(A) Industry Structure:
The Company does not have any aluminium manufacturing operations since July 2013. The Company had also sold land & building and other assets in financial year 2016-17.
The promoters are in discussions with the management regarding future business plans of the Company. Hence, the industry structure is not being discussed in the current circumstances.
(B) Risk, Concerns, Opportunities and Threats
Same as above, and Company is re-evaluating its business options.
(C) Internal Control Systems and Their Adequacy
The Company has internal control system commensurate with its size and nature of business to ensure that all assets are safeguarded and protected against un-authorised use and that all transactions are authorised, recorded and correctly reported. The audit observations and corrective action taken thereon are periodically reviewed by the independent audit committee to ensure effectiveness of the internal control system.
(D) Financial and operational results
The Company had stopped production in July 2013. However, the Company has started dealing in the trading of scrap material of ferrous and non-ferrous metals.
(E) Human Resource/Industrial Relations
As the production of the Company is discontinued with effect from July, 2013 there are no workmen. The Company has settled all the pending issues with the workmen by entering into mutual agreements with them and also paid all the amounts payable to workmen.
(F) Outlook
The Board of Directors and the Management of the Company are pursuing various available options to rehabilitate the Company and considering future business plans for the Company.
(G) Cautionary Statement
The statements in this section describe the Company?s objectives, projections, estimates, expectations and predictions, which may be "forward looking statements" within the meaning of the applicable laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Company?s operations include economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in the Government regulations, tax laws and other incidental factors.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.