praman capital market services ltd Directors report

Annual Report 1999-2000 PRAMAN CAPITAL MARKET SERVICES LIMITED DIRECTORS REPORT To the Members Your Directors have pleasure in presenting the Sixth Annual Report together with the Audited Accounts of the Company for the Year ended 31st March, 2000. GENERAL REVIEW OF THE OPERATIONS AND FUTURE PROSPECTS During the year under review, the company has performed satisfactorily well despite the high volatility experienced by the equity markets. The company now proposes to exploit the advances made in Information and Internet technologies augment its client base and to improve its business. DIVIDEND To conserve the resources of the company and also to augment the companys networth, your Directors have decided to retain the entire profits generated during the year. Hence no dividend is recommended. DIRECTORS In accordance with the provisions of the Articles of Association of the Company, Shri K.C. Pai and Shri M. Dinesh Kudva retire by rotation at the forthcoming Annual General Meeting and being eligible, offer themselves for re-appointment. AUDITORS M/s S.P. Bhat & Co., Chartered Accountants and M/s Ramachandra Bhat & Co., Chartered Accountants, Statutory Auditors of the Company, hold office until the conclusion of the forthcoming Annual General Meeting and are recommended for re-appointment. The company has received certificates from them to the effect that their appointment, if made, would be within the limits prescribed under Section 224(1) of the Companies Act, 1956. FIXED DEPOSITS The Company has not received any fixed deposits during the year under review. PARTICULARS OF EMPLOYEES There are no employee in receipt of remuneration coming under the purview of Section 217(A) of the Companies Act, 1956. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO The Company has no activity in relation to conservation of energy and technology absorption. The Company has no foreign exchange earnings or outgoings during the year. ACKNOWLEDGEMENTS Your Directors are grateful to the National Stock Exchange and Cochin Stock Exchange for continued recognition accorded to the Company. Your Directors gratefully acknowledge the faith and confidence reposed by the shareholders and clients and wish to place on record the deep sense of appreciation for the service and co-operation extended by its Bankers. Your company considers its exployees as invaluable asset and acknowledge their contribution with a sense of pride. For and on behalf of the Board Dated : 16th August, 2000 K.R. SHENOY Place : Thane (W) Executive Chairman