Annual Report for the year 2012

With regard to foreign exchange earnings and outgo, the position
is as under:
Sr.
No.
(i)
(ii)
Particulars
Foreign exchange earnings including
proceeds on sale of ship (on accrual
basis)
Foreign exchange outgo including
operating components and spare
parts and other expenditure in foreign
currency (on accrual basis)
PERSONNEL
Information as per section 217(2A) of the Companies Act, 1956,
read with the Companies (Particulars of Employees) Rules, 1975,
forms part of this Report. However, as per the provisions of section
219(1)(b)(iv) of the said Act, this Report and the Accounts
Statement are being sent to all Shareholders excluding the
Statement of Particulars of Employees under section 217(2A). Any
Shareholder interested in obtaining a copy of the statement may
write to the Company Secretary at the Registered Office of the
Company.
ACKNOWLEDGMENTS
` in Lacs
(2011-12)
5,852.56
5,885.32
and bankers for their continued support during the year. It will be
your Company's endeavour to build and nurture strong links with
them based on mutuality, respect and co-operation with each
other. Your Directors take this opportunity to thank all employees
for their hard work, dedication and commitment. The enthusiasm
and unstinting efforts of the employees have enabled the
Company to remain at the forefront of the industry despite
increased competition from several existing and new players.
Your Directors place on record their appreciation for the support
and continued co-operation that the Company received from the
Government of India, the Ministry of Shipping, the Ministry of
Finance, the Ministry of Company Affairs, the Directorate General
of Shipping, the Mercantile Marine Department, the Stock
Exchanges, the Reserve Bank of India, the Central Board of Excise
and Customs, and other Government agencies. Your Directors also
express their sincere thanks to the Indian National Ship Owners
Association, Port authorities, Insurance companies, Protection and
Indemnity clubs for their continued support during the year.
For and on behalf of the Board of Directors
Place: Mumbai S. Ramakrishnan
th
Date: 30 May, 2012 Chairman & Managing Director
Your Directors thank the Company's clients, vendors, charterers,
business associates, main line operators, investors, shareholders
24th Annual Report 2011-12
11