RANE COMPUTERS CONSULTANCY LIMITED
Your Directors have pleasure to submit their Fifth Annual Report on the
performance of your Company and the Audited Financial Accounts for the year
ended 31st March, 1995.
Yours Directors recommends the dividend of 5% on paid up share capital of
the Company which will absorb Rs.40,25,000/- .
The Company proposes to start the Trade Net Project with the Internet
Access. This will be helpful for the Indian Economy taking into
consideration mass scale globalisation and Indian economy has made
accessible the new vistas for NRIs and foreigners. This new concept will
be helpful to have ready made information about the Indian Industries to
prospective businessmen wishing to set up base in India. For this project
the Company is negotiating with the leading Indian Financial Institutions
as a working partner in suitable form. To part finance the project, the
Company proposes to make Right Issue of the Fully Convertible Debentures.
The necessary permission of the shareholders is required to be obtained.
The special resolution is put for the approval of the shareholders.
The Companys existing Auditors M/s. Raghavendra Kulkarni & Associates,
Chartered Accountants, retires at the ensuing Annual General Meeting, and
being eligible, offers themselves for re-appointment.
Your Company has been enjoying cordial relationship with the employees at
all the times.
Mrs. U.D. Rane, Director of the Company retires by rotation and, being
eligible, offers herself for re-appointment. The Board of Directors at its
meetings held on 7th July 1995 & 1st September 1995 had appointed Dr. (Lt.
Gen) (Retd.) Jagmohan Grover, Mr. V.K.J. Rane, Lt. Gen. (Retd.) A.M.
Sethna, Col. (Retd) M.L. Kaktikar and Mr. M.C. Jayraman as the Additional
Directors. They hold office upto conclusion of this Annual General Meeting.
Company has received notices pursuant to provision under section 257 of the
Companies Act 1956 proposing the candidature for the post of Director. The
Company proposes to appoint them as rotational Director. The necessary
resolutions are put for the approval.
PARTICULARS OF EMPLOYEES
None of employees of the Company is drawing the salary as required under
Section 217 (2-A) of the Companies Act, 1956 read with the Companies
(Particulars of employees) Rules, 1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
The Company is not engaged in manufacturing activities. Therefore there is
no information to submit in respect of conservation of energy and
absorption of technology.
The details of foreign exchange earning and outgo are mentioned as below:-
Foreign Exchange Earning 2,49,83,480 62,91,265
Foreign Exchange Outgo Nil 20,24,927
Your Directors take this opportunity to place on records their appreciation
of dedication and hardwork by all the employees at all the levels. Your
company is grateful for cooperation and continued assistance extended by
bankers of the Company.
For and on behalf of the Board
Dinesh A. Rane
Chairman and Managing Director
Dated: 19th October, 1995.
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