Amal Ltd 2013-14

3 Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo and Employees Information required under Section 217 (1) (e) of the Companies Act, 1956, read with Rule 2 of the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988, forms a part of this Report. However, as per the provisions of Section 219 (1) (b) (iv), the Report and Accounts are being sent to all the Members excluding the information relating to conservation of energy, technology absorption. Any Member interested in obtaining such particulars may write to the Company Secretary for a copy. During the year, there were no foreign exchange earnings and outgo. The Company is not required to disclose information as per Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended from time to time as there were no employees during the year drawing remuneration exceeding the limit specified there under. Insurance The Company has taken adequate insurance to cover the risks to its people, plants and machineries, buildings and other assets, profits and third parties. Fixed Deposits The Company has not invited or accepted Fixed Deposits under Section 58A of the Companies Act, 1956, from public during the period under review. Safety, Health and Environment (SH&E) The Company accords high priority to SH&E. It has its own effluent treatment plant and other equipments at Ankleshwar designed to comply with the norms stipulated by the Gujarat Pollution Control Board. The treated effluent is discharged into common effluent discharge pipeline of Narmada Clean Tech Ltd. Directors’ Responsibility Statement Pursuant to Section 217 (2AA) of the Companies Act, 1956, the Directors confirm that to the best of their knowledge and belief: (i) In the preparation of the annual accounts, the applicable Accounting Standards were followed (ii) Such Accounting Policies were selected and applied consistently and such judgements and estimates were made that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on March 31, 2014 and of the profit of the Company for the year ended on that date (iii) Proper and sufficient care was taken to maintain adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities (iv) The attached annual accounts for the year ended March 31, 2014 were prepared on a going concern basis. Directors According to Article 134 of the Articles of Association of the Company, Mr Sunil Lalbhai retires by rotation and being eligible offers himself for reappointment at the forthcoming Annual General Meeting (AGM) scheduled on August 01, 2014. As per the provisions of the Companies Act, 2013, Independent Directors, Mr Naresh Singhal, Mr Sujal Shah and Mr Abhay Jadeja are proposed to be reappointed for a term of five years till March 31, 2019. Auditors Haribhakti & Co, the Statutory Auditors of the Company, will retire at the conclusion of the ensuing AGM. They have given their consent to continue to act as the Auditors for 2014-15, if reappointed. The relevant notes forming a part of the accounts are self explanatory and give full information and explanation in respect of the observations made by the Auditors in their Report. The Board appointed R. Nanabhoy & Co as the Cost Auditors for 2014-15 on April 25, 2014. Acknowledgements The Board expresses its sincere thanks to all the employees, customers, suppliers, investors, lenders, regulatory and Government authorities and the Stock Exchanges for their continuing support. For and on behalf of the Board of Directors Mumbai (Sunil Lalbhai) April 25, 2014 Chairman