FINANCE
During the year the company has not accepted /
renewed any fixed deposit from public. The total deposits from public
outstanding as on 31st March, 2011 is NIL. Two deposits amounting to Rs 0.050
million matured but had not been claimed by the depositors as on that date.
Reminders have been sent to unclaimed deposit holders for suitable instructions.
ICRA has maintained the credit rating of ''LBBB-''
for Working Capital fund based facilities & Term Loan facilities and A3''
for working capital non fund based facilities like Letters of Credit and Buyers
Credit for imports.
AUDITORS
The Auditors of the Company, M/s.Haribhakti
& Co., retire at the ensuing Annual General Meeting and are eligible for
reappointment. The Company has received a letter from them, stating that the
appointment, if made, will be within the limit prescribed under Section 224(1B)
of the Companies Act, 1956.
DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL
RELATIONS
The external advisors working with the
management to rebuild relationship with workforce resulted in improvement in
relationship and trust. Similar measures will continue to improve further in
the ensuing year.
CORPORATE SOCIAL OBJECTIVES
Corporate Social Responsibility continues to
assume an important role in the activities of the Company. Afforestation, Water Management, Literacy and
Health continue to be the chosen areas of work by the Company and its employees.
The year 2011 has been
declared as the International Year of Forests by the United Nations. A project
Pasum Pulari meaning the dawn of green has been launched by “Siruthuli” for
planting 1 lakhs trees during the year.
25,000 saplings have been raised, nurtured and handed over from Pricol
to “Siruthuli” for planting in the reserve sites belonging to the Corporation
in various parts of Coimbatore.
CONSERVATION OF ENERGY
The Company continues to put
its efforts to adopt various energy saving measures for conservation of energy
even though it is not a power intensive industry.
No comments:
Post a Comment