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એસટીઆઇ પ્રોડક્ટ્સ ઇન્ડીયા ડિરેક્ટર્સ રિપોર્ટ, એસટીઆઇ પ્રોડક્ટ્સ ઇન્ડીયા ડિરેક્ટર્સ દ્વારા રિપોર્ટ

એસટીઆઇ પ્રોડક્ટ્સ ઇન્ડીયા

બીએસઈ: 517492  |  ઍનઍસઈ : N.A  |  ISIN: INE205G01014  |  Steel - Tubes & Pipes

શોધો એસટીઆઇ પ્રોડક્ટ્સ ઇન્ડીયા કનેક્શન � Mar 11
ડિરેક્ટર્સ રિપોર્ટ વર્ષાન્ત : Mar '13
Dear Shareholders,
 
 The Directors have pleasure in presenting the 39th Annual Report of the
 Company with the Audited Statement of Accounts for the year ended 31 st
 March, 2013.
 
 FINANCIAL HIGHLIGHTS
 
 The Financial Results of the Company for the year ended 31st March,
 2013 are as under:
 
                                                     (Rs. In Lacs)
 Particulars                               For the Year    For the Year
                                               ended on        ended on
                                                2012-13         2011-12
 
 Revenue from Operations/Other Income             0.39              -
 
 Administrative* Other Expenditures               4.32           1.79
 
 (Loss) before Interest, Depreciation & Tax     (3.92)         (1.79)
 
 Less: Interest, Depreciation & Tax                  -              -
 
 (Loss) After Interest, Depreciation 
 & Tax but Before
 
 Exceptional Items                              (3.92)         (1.79)
 
 Exceptional Items                                   -         (3.29)
 
 (Loss) before Taxation                         (3.92)         (5.08)
 
 Taxation                                            -              -
 
 Net Loss for the year                          (3.91)         (5.08)
 
 Earnings Per Share                             (0.10)         (0.13)
 
 
 
 CLOSURE OF THE COMPANY
 
 With a view to conserve resources from further depletion and to save
 administrative cost, the Company has given a closure notice with effect
 from 1 st June, 2004 to the Labour Secretary, Department of Labour,
 Government of Karnataka, Bangalore. The dues of all the employees and
 workers of the Company have been settled and for more than 2 years
 there is no employee working in the Company. The Company also does not
 own any assets for its operations.
 
 OPERATIONS
 
 During the year under review, the Company cduld not operate its
 business satisfactorily due to non- availability of any business
 opportunity.
 
 FUTURE OUTLOOK
 
 The management of the Company expects to commence operations at any
 other alternate place and there fore any turning around of the Company
 in the near future is very likely.
 
 DIVIDEND
 
 In view of the accumulated losses, your Directors regret their
 inability to recommend dividend for the year.
 
 FIXED DEPOSITS
 
 The Company has not accepted deposits from the public during the year.
 
 DIRECTORS
 
 Mr, K. N. Garg, Director of your Company retires by rotation at the
 ensuing Annual General Meeting and being eligible offers himself for
 re-appointment.
 
 AUDITORS
 
 M/s. S. M. N. P. & Co., Chartered Accountants, Mumbai having Firm
 Registration Number 105929Wthe Statutory Auditors of the Company retire
 at the ensuing Annual General Meeting and being eligible offer
 themselves for reappointment.
 
 AUDITORS'' REPORT
 
 Comments on the qualified opinions of the Auditors are already
 quantified and adequately dealt with in the notes to the account.
 Except these, there are no specific observations in the Auditors''
 Report requiring further comments under Section 217(3) of the Companies
 Act, 1956.
 
 SECRETARIAL COMPLIANCE CERTIFICATE:
 
 As required under the amended provisions of Section 383A of the
 Companies Act, 1956 a Secretarial Compliance Certificate obtained from
 Practicing Company Secretary is enclosed with the Directors'' Report.
 
 REPORT ON CORPORATE GOVERNANCE
 
 The Company has fairly complied with the requirement of Corporate
 Governance in terms of Clause 49 of the listing agreement. A detailed
 report on Corporate Governance is given in the Annexure I which form
 part of this report.
 
 DIRECTORS'' RESPONSIBILITY STATEMENT
 
 Your Directors confirm that:
 
 -  in the preparation of the annual accounts, the applicable accounting
 standards have been followed along with proper explanation relating to
 material departures;
 
 -  the accounting policies are consistently applied and reasonable,
 prudent judgment and estimates are made so as to give a true and fair
 view of the state of affairs of the company at the end of the financial
 year;
 
 -  the Directors have taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of this Act for safeguarding the assets of the company and
 for preventing and detecting fraud and other irregularities;
 
 -  the Directors have prepared the annual accounts considering that all
 the fixed assets of the company or have been disposed off, dismissal of
 reference with BIFR, Settlement of workers, absence of any operations
 for last few years and absence of any possibility to restart the
 operational activity in near future.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 Information as required under section 217(1)(e) of the Companies Act,
 1956, read with the Companies (Disclosures of particulars in report of
 the Board of Directors) Rules, 1988, is not applicable on the Company
 in view of no manufacturing operations in the company during the year.
 
 PARTICULARS OF EMPLOYEES
 
 The provisions of Section 217 (2A) of the Companies Act, 1956 are not
 applicable on the company as there is no employee in the company.
 
 INDUSTRIAL RELATIONS (
 
 Industrial relations with the employees were cordial upto the date of
 settlement with them. Therefore the directors wish to record their
 appreciation of the sincere and dedicated support by the employees of
 the company at all levels upto the date of settlement.
 
 ACKNOWLEDGEMENT
 
 The Directors have pleasure in recording their appreciation of the
 continued assistance and co-operation extended to the Company by all
 the stakeholders.
 
                       For and on behalf of the Board of Directors 
                              For STI PRODUCTS INDIA LIMITED
 
                                                 K. N. Garg
                                                 Chairman
 Place: Indore
 Date: 20th August, 2013
 
 
સ્તોત્ર: રેલીગેર ટેકનોવા


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