alert petrogas ltd Directors report

ANNUAL REPORT 1998-99 ALERT PETROGAS LIMITED DIRECTORS REPORT To, The Members of ALERT PETROGAS LIMITED Your Director have pleasure in presenting the Nineteenth Annual Report on with the statement of Audited Account for the year ended 31st March,1999. OPERATION During the fear under review.,due to severe competition there has not been increase in Income. The Company has established a strong consumer base and Distributor/Dealer network in the Districts of Ahmedabad, Mehsana, Sabarkantha and Banaskantha and also in various towns of North Gujarat. The Company is letting out its capacity on Job Work basis to the other entrepreneurs. INSURANCE: The properties and insurable interest of the Company are adequately insured. FIXED DEPOSITS The company has not accepted any loans r deposits from the shareholders or public. CONSERVATION OF ENERGY TECHNOLOGY,ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO: The view of the Nature of Business carried on by the Company the Submission of report u/s 217(1)(e) of the Companies Act, 1956 read with Companies Disclosure of particulars in the report of Board Of Directors rules,1988) are not applicable. Y2K COMPLIANCE The Company has taken necessary steps to be Y2k Compliant PARTICULARS OF EMPLOYEES As there were no employees throughout the year under review who were in receipt of remuneration exceeding Rs. 50,000/- per month, no statement is attached herewith as required in terms of Section 217 (A) of the Companys Act, 1956. DIRECTORS: Shri Jahanir.K.Khumbatta and Shri Jayesh.B.Shah retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for reappointment. AUDITORS Members are requested to appoint Auditors at the ensuing, Annual General Meeting. APPRECIATION The Directors wish to place on record their appreciation to employees at all levels for their Co-operation. Your Directors also like to acknowledge the continued support of the Companys shareholders and the bankers. The Board expresses its gratitude and, appreciation to the Government of Gujarat. Gujarat Industrial Investment Corporation Ltd. On behalf of the Board Kulidan.B.Shah Managing Director PLACE: MUMBAI DATE : August 25,1999.