vatsa educations ltd Directors report

VATSA EDUCATION LIMITED ANNUAL REPORT 2003-2004 DIRECTORS REPORT To, The Members Your Directors have pleasure in presenting their Eighteenth Annual General Report together with the Audited Accounts for the period ended 31st July, 2004. FINANCIAL REPORT During the year company has earned the profit of Rs. 8,900/- DIVIDEND To augment the reserves and consolidate the operations, your Directors do not recommend the Dividend for the year ended 31st July, 2004. DIRECTORS In accordance with fee provisions of the Companies Act, 1956 and the Articles of Association of the Company Mr. N. M. S. Deo retires by rotation at the ensuing Annual General Meeting and eligible for reappointment. PERSONNEL The provisions of the section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, does not apply to the Company. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORBTION, FOREIGN EXCHANGE EARNINGS AND OUTFLOW The provisions of section 217(2A) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules 1988 as amended, does not apply to the Company. There was no foreign earnings and outflow during the year under review. AUDITORS A.R. Vishwakarma & Co. Chartered Accountant, the Auditors of the Company retire at the forthcoming Annual General Meeting and being hereby eligible and recommended for appointment. ACKNOWLEDGMENT Your Directors would like to express their grateful appreciation for the Assistance and Co-operation received from their Advocates & Solicitors, Consultants, Stock Exchange, SEBI, State and Central Government authorities at all levels, CBDT Officials, Bankers during the year under review. Your Board of Directors wish to place their appreciation for the sincere and devoted service rendered by the Executive and staff at all levels of the Company for its Success. For and behalf of the Board of Directors Director