Rane Computers Consultancy Ltd Directors Report.

1995 RANE COMPUTERS CONSULTANCY LIMITED DIRECTORS REPORT 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. DIVIDEND Yours Directors recommends the dividend of 5% on paid up share capital of the Company which will absorb Rs.40,25,000/- . PROJECTION 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. AUDITORS 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. EMPLOYEE RELATIONSHIP Your Company has been enjoying cordial relationship with the employees at all the times. DIRECTORS 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:- Rupees Rupees 31-3-95 31-3-94 Foreign Exchange Earning 2,49,83,480 62,91,265 Foreign Exchange Outgo Nil 20,24,927 ACKNOWLEDGMENTS 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 Place: Mumbai, Dated: 19th October, 1995.