2007-2008 - Cgglobal.com

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$ Viserge Limited $ Microsol (UK) Limited $ Tricon Controls Limited $ Microsol Inc In totality, the Company has 24 subsidiaries, 4 Indian and 20 foreign. The Company has obtained an exemption under Section 212 of the Companies Act, 1956, from annexing to this Report, the Annual Reports of the abovementioned 4 Indian subsidiaries and 20 foreign subsidiaries, for the year ended 31 March 2008. However, if any Member of the Company or its subsidiaries so desires, the Company will make available, the Annual Accounts of the subsidiaries to them, on request. The same will also be available for inspection at the Registered Office of the Company and of its subsidiaries, during working hours upto the date of the Annual General Meeting. The details of each subsidiary with respect to capital, reserves, total assets, total liabilities, details of investment (except in case of investment in subsidiaries), turnover, profit before taxation, provision for taxation, profit after taxation and proposed dividend are detailed at Page 99 of the Annual Report. Consolidation of Accounts As required by Accounting Standards AS-21 and AS-23 of the Institute of Chartered Accountants of India, the financial statements of the Company reflecting the consolidation of the Accounts of the Company, its 24 subsidiaries mentioned above, and 5 Associate Companies, are annexed to this Report. The Associate Companies are Brook Crompton Greaves Limited, CG Actaris Electricity Management Limited, CG Lucy Switchgear Limited, International Components India Limited and Pauwels Middle East Trading and Contracting Limited. For the purposes of consolidation, in accordance with AS-23, certain Associate Companies which do not fulfill the criteria specified in the said Accounting Standard have been excluded. Investments in such Associate Companies have been accounted for, in accordance with AS-13. THREE TRANSFORMERS BEING TESTED AT THE TEST BED FOR LARGE POWER TRANSFORMERS AT T1 DIVISION, KANJUR 38 ANNUAL REPORT 2007–2008 CROMPTON GREAVES LIMITED
Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, the relevant data pertaining to conservation of energy, technology absorption and foreign exchange earnings and outgo are given in the prescribed format as an Annexure to this Report. Particulars of Employees The statement of particulars required pursuant to Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) (Amendment) Rules, 2002, forms a part of this Report. However, as permitted by the Companies Act, 1956, the Report and Accounts are being sent to all Members and other entitled persons excluding the above statement. Those interested in obtaining a copy of the said statement may write to the Company Secretary at the Registered Office and the same will be sent by post. The statement is also available for inspection at the Registered Office, during working hours upto the date of the Annual General Meeting. Directors’ Responsibility Statement The Directors would like to assure the Members that the financial statements for the year under review conform in their entirety to the requirements of the Companies Act, 1956. The Directors confirm that : $ The Annual Accounts have been prepared in conformity with the applicable Accounting Standards; $ The Accounting Policies selected and applied on a consistent basis, give a true and fair view of the affairs of the Company and of the profit for the financial year; $ Sufficient care has been taken that adequate accounting records have been maintained for safeguarding the assets of the Company; and for prevention and detection of fraud and other irregularities; $ The Annual Accounts have been prepared on a going concern basis. Auditors The Company’s Auditors, Sharp & Tannan, hold office upto the conclusion of the forthcoming Annual General Meeting and, being eligible, are recommended for re-appointment on terms to be negotiated by the Audit Committee of the Board of Directors. They have furnished the requisite certificate to the effect that their reappointment, if effected, will be in accordance with Section 224(1B) of the Companies Act, 1956. Fixed Deposits Currently, the Company has discontinued acceptance of fresh deposits and also renewal of existing deposits. 208 persons had not claimed repayment of their matured deposits amounting to Rs.2.61 million as at 31 March 2008. At the date of this Report, an amount of Rs. 0.24 million therefrom has been claimed and repaid. Intime Spectrum Registry Limited continues to be the Company’s Registrars for all matters related to the Company’s Fixed Deposit Scheme. The contact details of Intime Spectrum are mentioned in the Report on Corporate Governance. Share Registrar & Transfer Agent Effective 1 December 2007, the Company changed its Registrar & Transfer Agents from Sharepro Services (India) Pvt Limited to Datamatics Financial Services Ltd (DFSL). DFSL is a SEBI-registered Registrar & Transfer Agent. The contact details of DFSL are mentioned in the Report on Corporate Governance. Investors are requested to address their queries, if any to DFSL; however, in case of difficulties, as always, they are welcome to contact the Company’s Investor Services Department, the contact particulars of which are contained in the Report on Corporate Governance. Environment, Health & Safety The Company is committed to ensuring the health and safety of all its employees, contractors, visitors and other persons at its workplace. The Company regularly invests in requisite resources and infrastructure that DIRECTORS’ REPORT 39
Page 1 and 2: CROMPTON GREAVES LIMITED ANNUAL REP
Page 3 and 4: RETURNS PERCENT 23 PERCENT 25.90 RO
Page 5 and 6: $ Return on net worth (RONW) rose b
Page 7 and 8: CORPORATE INFORMATION Board of Dire
Page 9 and 10: Power Systems CONSOLIDATED PERFORMA
Page 11 and 12: CG Power’s Indian operations show
Page 13 and 14: Szolnok facility becomes a strategi
Page 15 and 16: Industrial Systems The Company’s
Page 17 and 18: CHART F Gross Sales of Consumer Pro
Page 19 and 20: egular programmes at the units as w
Page 21 and 22: During 2007-08, Crompton Greaves re
Page 23 and 24: Research and Development (R&D) R&D
Page 25 and 26: Financial Performance We first high
Page 27 and 28: CONSOLIDATED PERFORMANCE The consol
Page 29 and 30: Risk Identification and Mitigation
Page 31 and 32: 1999 2000 2001 2002 2003 2004 2005
Page 33 and 34: progressively spreading their wings
Page 35 and 36: FINANCIALS IN EUROS CG STANDALONE C
Page 37: Global R&D’s high levels of profe
Page 41 and 42: Annexure to Directors’ Report Und
Page 43 and 44: $ Design and development of virtual
Page 45 and 46: Board of Directors COMPOSITION As o
Page 47 and 48: TABLE 04 AUDIT COMMITTEE MEETINGS,
Page 49 and 50: Shareholders DISCLOSURE REGARDING A
Page 51 and 52: DETAILS OF CAPITAL MARKET NON- COMP
Page 53 and 54: Registrar and Agents FOR SHARES The
Page 55 and 56: INVESTOR SERVICES DEPARTMENT In add
Page 57 and 58: Managing Director’s and Chief Fin
Page 59 and 60: AUDITORS’ REPORT TO THE SHAREHOLD
Page 61 and 62: CROMPTON GREAVES STANDALONE FINANCI
Page 63 and 64: ANNEXURE TO THE AUDITORS’ REPORT
Page 65 and 66: BALANCE SHEETAS AT 31ST MARCH, 2008
Page 67 and 68: CASH FLOW STATEMENTFOR THE YEAR END
Page 69 and 70: SCHEDULES FORMING PART OF ACCOUNTS
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SCHEDULES FORMING PART OF ACCOUNTS
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STATEMENT UNDER SECTION 212 OF THE
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STATEMENT UNDER SECTION 212 OF THE
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INFORMATION IN RESPECT OF SUBSIDIAR
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CROMPTON GREAVES CONSOLIDATED FINAN
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CONSOLIDATED BALANCE SHEET AS AT 31
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CONSOLIDATED CASH FLOW STATEMENTFOR
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SCHEDULES FORMING PART OF CONSOLIDA
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STANDALONE BALANCE SHEET AS AT 31ST
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STANDALONE BALANCE SHEET AS AT 31ST
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PRODUCTS & SERVICES 140 ANNUAL REPO
Page 145 and 146:
HT Motors: GANZ HT Slip Ring Motor
Page 147 and 148:
ESTABLISHMENTS REGISTERED OFFICE CG
Page 149 and 150:
WESTERN REGION Regional Head Office
Page 151:
HOLDING PAUWELS INTERNATIONAL N.V.
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2007-2008 - Cgglobal.com

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