The Champdany Industries Limited
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ual Reports Librar The Champdany Industries Limited www.reportjunction.com DIRECTORS WORKS • Wellington Jute Mill Mr. G. J. Wadhwa, Chairman Rishra, Hooghly, West Bengal Mr. S. M. Palia • 100% Export Oriented Units Mr. S. K. Mehera a) Rishra, Dist. Hooghly, (W. B.) - Yarn Unit Mr. K. K. Dutt b) Rishra, Dist. Hooghly, (W. B.) - Wvg. Unit Mr. D. J. Wadhwa c) Narayanpur, Dist. 24-Parganas, (W. B.) d) Choudwar, Dist. Cuttack, Orissa Mr. D. Wadhwa e) Konnagar, Dist. Hooghly, (W. B.) Mr. B. Wadhwa • Libra Carpets Mr. N. Pujara (Executive Director-Mktg.) Choudwar, Dist. Cuttack, Orissa CHIEF EXECUTIVE (FINANCE) • Shalimar Unit & COMPANY SECRETARY 39 Shalimar Road, Howrah Mr. B. N. Goel • Process House AUDITORS P. O. Govindpur S. B. Billimoria & Co. 24-Parganas (South), West Bengal Chartered Accountants • Weaving Unit P. O. Konnagar BANKERS Dist. Hooghly (W.B.) Bank of Baroda Allahabad Bank • Beldanga Unit The Vysya Bank Ltd. P. O. Beldanga Murshidabad, West Bengal Indus Ind Bank Ltd. REGISTERED OFFICE • Share Dept. 25. Princep Street 25, Princep Street, Kolkata - 700 072 Kolkata - 700 072 Phone : 237-7880/85, Fax : 033-236 3754/033-225 0221 E-mail : [email protected] Website : www.jute-world.com www.reportjunction.com ual Reports Librar -^- Notice to the Shareholders Notice is hereby given that the Annual General Meeting of the company will be held on Tuesday, the 24th September, 2002, at 11.00 A.M. at the Auditorium of Bharatiya Bhasha Parishad, 36A, Shakespeare Sarani, 4th Floor, Kolkata - 700 017, to transact the following business as ordinary business :- (1) To receive and adopt the Profit & Loss Account for the year ended 31st March, 2002, the Balance Sheet as on that date and the Directors' and Auditors' Report thereon. (2) To declare dividend for the financial year ended 31st March, 2002. (3) To appoint a director in place of Shri S. M. Palia, who retires by rotation and, being eligible, offers himself for re-appointment. (4) To appoint a director in place of Shri D. J. Wadhwa, who retires by rotation and, being eligible, offers himself for re-appointment. (5) To appoint a director in place of Shri S. K. Mehera, who retires by rotation and, being eligible, offers himself for re-appointment. (6) To appoint auditors and to fix their remuneration and for this purpose to consider and, if thought fit, to pass the following resolution as an Ordinary Resolution : " Resolved that pursuant to the provisions of Section 224 and other applicable provisions, if any, of the Companies Act, 1956, Messrs S. B. Billimoria & Co., Chartered Accountants, be and are hereby re-appointed as auditors of the company for audit of the company's accounts and the auditors are to hold office from the conclusion of this meeting upto the conclusion of the next Annual General Meeting of the company on a remuneration to be decided by the Board of Directors in consultation with the auditors". Registered Office By Order of the Board 25, Princep Street B. N. Goel Kolkata - 700 072 Chief Executive (Finance) & Dated : 29th July, 2002 Company Secretary. Notes : a) A member entitled to attend and vote is entitled to appoint one or more proxies to attend and vote instead of himself, and a proxy need not be a member of the company. Proxies, in order to be effective, must be received by the company at its Registered Office at least 48 hours before the meeting. b) The Register of Beneficial Owners, Register of Members and Share Transfer Books of the company shall remain closed from Tuesday, the 17th September, 2002, to Tuesday, the 24th September, 2002, both days inclusive. c) Pursuant to the provision of Section 205A of the Companies Act, 1956, as amended, dividend for the financial year ended 31st March, 1996, and thereafter, which remained unpaid or unclaimed for a period of seven years, will be transferred to the "Investors Education and Protection Fund" of the Central Government. Shareholders, who have not encashed the dividend warrants so far for the financial year ended 31st March, 1996, or any subsequent year, are requested to make their claims to the Registered Office of the company at 25, Princep Street, Kolkata - 700 072. It may please be noted that once the unclaimed dividend is transferred to the Central Government as above, no claim shall lie in respect thereof. www.reportjunction.com d) T^'^^dei^psrec^im^cM bHh^loardH Dn^^rs, if d^ared,^w Jbejiac^pa^ble ual Meeting of the comiBiy, to those shareholders whose names appear on the Register of Members of the company on Tuesday, the 24th September, 2002, or to their mandates, to the extent eligible, and also to beneficial owners of equity shares held in the electronic form on the same date as per details furnished by the Depositories for this purpose. As per the provisions of the Income Tax Act, 1961, no deduction of tax at source shall be made, if dividend payable to a resident individual shareholder does not exceed Rs. 1000/- during a financial year. Further, no Income Tax will be deducted at source from dividend payable to individual resident shareholders, if declaration in Form No. 15G, in duplicate, (provided that the aggregate dividend amount distributed or paid or likely to be distributed or paid during the financial year does not exceed Rs. 50,000/- being the maximum amount not chargeable to tax) or a certificate of non deduction of tax or deduction at lower rate from dividend issued by the assessing office of the members in Form No. 15G, is submitted to the company on or before 16th September, 2002. e) Members are requested to notify immediately Permanent Account Number (PAN) and the changes, if any, in their registered addresses along with PINCODE :- • To their Depository Participants in respect of equity shares held in electronic form (Demat Account); and • To the company at its Registered Office at 25 Princep Street, Kolkata - 700 072, in respect of equity shares held in physical form. Members (except non-residents), in whose case tax deduction at source is applicable on dividend payment, are requested to note that submission of Permanent Account Number (PAN) is mandatory and non-compliance of the same attracts penal consequences under the provisions of the Income Tax Act, 1961. f) As per the provisions of the amended Companies Act, 1956, the facility for making nominations is available to the shareholders in respect of the equity shares held by them. Members holding shares in physical form may send their request for nomination in the prescribed Form 2B duly filled in and signed to the company at its Registered Office. The facility would be made available folio wise to individual shareholders including joint holders and for the entire shares registered under the folio. The members holding shares in dematerialised form may contact and consult their respective Depository Participants (DP) for availing the nomination facility. g) The company has entered into necessary arrangements with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) to enable the shareholders to dematerialise their shareholdings in the company for which they may contact the depository participants of either of the Depositories. It may be noted that the shares of the company have been included in the list of Securities for compulsory trading in dematerialised form for all investors w.e.f. 27th November, 2000. h) Additional information pursuant to Clause 49 of the Listing Agreement(s) with Stock Exchanges, on directors recommended for re-appointment at the Annual General Meeting, are given in the Annexure to the Notice. i) Members/Proxies are requested to deposit the Attendance Slip duly filled in and signed for attending the meeting www.reportjunction.com orts Librar Details of directors seeking re-appa^ment in ensuing Annual General Meeting to be held on Tuesday, the 24th September, 2002. Name of Directors Shri S. M. Palia Shri D. J. Wadhwa Shri S. K. Mehera Age 64 years 65 years 74 years Date of Appointment 29.04.1991 01.10.1968 27.11.1974 Expertise in specific Development Banker with Industrialist with vast Company functional area rich experience in Finance experience in Jute Industry Executive with rich and Management and Export Market. business and Management experience List of outside Tata Iron & Steel Co. Ltd. Anglo India Jute Mills Parcon (India) Pvt. Ltd. Directorships held Co. Ltd. The Associated Cement Naffar Chandra Jute Companies Ltd. Mills Ltd. GRUH Finance Ltd. Gujarat Venture Finance Ltd. Shibir India Ltd. Saline Area Vitalisation Enterprises Ltd. Chairman/Member Member:- Audit Member:- Audit of the Committee of Committee Committee Board of Directors of Chairman :- the company Investor's Grievances Committee. Chairman/Member Member in 3 Committees of the Committee of the of the Board of Tata Iron Board of Directors of other & Steel Co. Ltd. Public Limited companies. Chairman on 3 Committees of the Board of GRUH Finance Ltd. www.reportjunction.com ual ReportM DIRECTORS' REPORsT Libra i TO THE SHAREHOLDERS Your directors have pleasure in submitting their report and the audited accounts of the company for the year ended 31st March, 2002. Year ended Year ended 31.03.2002 31.03.2001 (Rs) (Rs) FINANCIAL RESULTS: The profit before providing for interest, depreciation, gratuity and taxation is 115,569,965 111,196,271 From which has been deducted charges on account of: i) Interest - Net 37,190,961 36,839,614 ii) Depreciation - Net 52,540,867 43,936,191 iii) Gratuity 10,291,426 9,650,420 iv) Taxation : Deferred (Asset) (1,485,676) - Current 205,000 98,742,578 90,426,225 16,827,387 20,770,046 To which is added : Balance brought forward from previous year 21,605,456 23,387,909 38,432,843 44,157,955 From which is deducted : i) Dividend 11,390,652 11,390,652 ii) Tax on dividend 1,161,847 ii) Transfer to General Reserve 10,000,000 10,000,000 21,390,652 22,552,499 Balance Carried forward to next year 17,042,191 21,605,456 DIVIDEND: Your directors recommend payment of Dividend @ 15% (previous year 15%) on the ordinary shares subject to your approval.