Thana Electric Supply Company Ltd Management Discussions

THANA ELECTRIC SUPPLY COMPANY LIMITED ANNUAL REPORT 2006-2007 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS OPERATION: During the year under review, as the companys operations were closed, the company could not make any sales (Previous year nil). CONTRACTS AND SALES DIVISION: During the year under review, Contracts and Sales division could not do any business due to the above said reasons. TRANSFORMER DIVISIONS (HYDERABAD & SILVASA): The Company was registered under the BIFR case No.440/2002 dated 01.11.2002. The State Bank of Hyderabad, Sanatnagar Branch, Hyderabad has been appointed as Operating agency by the BIER. In consultation with the operating agency-the State Bank Of Hyderabad, Hyderabad, the Company has enter into an agreement of sale of factories at Hyderabad and Silvassa pending finalization. Out of the advance received from the transactions, the Company has paid all the dues of the Bank under the One-time- Settlement scheme (OTS) offered by the Bank. INDUSTRIAL RELATIONS: During the year under review, as the operations were suspended due to the reasons given above, the industrial relations were not cordial.