patel energy ltd Management discussions


PATEL ENERGY LIMITED ANNUAL REPORT 2006-2007 MANAGEMENT DISCUSSION AND ANALYSIS The Directors are pleased to present the 11th Annual Report and Audited Accounts of the Company for the financial year ended 31st March 2007. 1. Recently the Company has signed Memorandum of Understanding with Government of Gujarat for establishing the 1200 M/s Imported Coal Based Power Project along with Captive Jetty at Ghogha, Bhavnagar, involving an investment of around Rs.5000 crores. The Company is in the process of identifying / making application to Collector, Bhavnagar for acquisition of lands for the said project. 2. Since the Company has not earned any profit during this year also, dividend is not recommended. 3. During the year under review, two Extra-ordinary General meetings were held on 24th April 2006 and 26th February 2007. 4. During the year under review, the Company became the subsidiary of Patel Engineering Limited. 5. The Company is not accepting any deposits from public.