Download - Sujana Group

SUJANA METAL PRODUCTS LIMITED
subsidiary Companies and other documents
required to be attached under Section 212(1)
of the Companies Act, 1956, to the Balance
Sheet of your Company. The said exemption
is granted vide Circular No. 5/12/2007-CL-III
issued by Ministry of Corporate Affairs dated
08.02.2011.
Accordingly, the said documents of subsidiary
Companies are not being attached with the
Balance sheet of the Company. A gist of
the financial performance of the subsidiary
Companies is contained in the report. The
annual accounts of the subsidiary Companies
are open for inspection by any member/
investor at the Company’s Registered office
and the Company will make available these
documents and the related detailed information
upon request by any investor of the Company
or any investor of its subsidiary Companies
who may be interested in obtaining the same.
A statement containing brief financial details
of the Company’s subsidiaries for the financial
year ended March 31, 2011 is annexed to this
Report.
In terms of Clause 32 of the Listing Agreement
with the Stock Exchanges and as prescribed
by Accounting Standard 21 notified by the
Government of India under Section 211(3C)
of the Companies Act, 1956, the Audited
Consolidated Financial Statements are
annexed.
10. Postal Ballot:
During the period 2009-11, the Company
conducted two postal ballot exercises to
obtain members approval for, inter alia:
- Issue of convertible warrants on
preferential basis to promoters and
promoter group.
- Increasing the borrowing powers of the
Company.
- To increase the limit of making loan,
investment, security, guarantee under
Section 372A of the Companies Act,
1956.
- Shifting the registered office of the
Company from Survey No:296/7/9, IDA
Bollaram, Jinnaram Mandal, Medak
District to Plot No:18, Nagarjuna Hills,
Panjagutta, Hyderabad-500082.
- Issue of equity shares and/or any
securities linked to, convertible into
or exchangeable for equity shares
including without limitations through
Global Depository Receipts (GDR)/
Foreign Currency Convertible
Bonds (FCCBs)/ Foreign Currency
Exchangeable Bonds(FCEB)/American
Depository Receipts (ADR), Qualified
Institutional Placements (QIP)
The complete details of postal ballot exercises
are provided in the Corporate Governance
Report attached and forming part of this
report.
11. Corporate Governance:
Your Company’s Report on Corporate
Governance is attached and forms part of
this report. Certificate from the Practicing
Company Secretary confirming the
compliance with the conditions of Corporate
Governance as stipulated under Clause 49 of
the listing agreement is attached to this report.
12. Management Discussion and Analysis
Report:
A separate Management Discussion and
Analysis Report is also attached and forms
part of this report.
13. Directors:
In accordance with the provisions of the
Companies Act, 1956 and the Company’s
Artciles of Association, Shri Y.S. Chowdary
and Dr.V.Malakonda Reddy, Directors retire
by rotation at the forthcoming Annual General
Meeting and being eligible, offer themselves
for re-appointment.
Further, Shri S.Hanumantha Rao, whose term
as Executive Director expires on 30.09.2010,
was re-appointed as Director (Finance) of the
Company with effect from 13th August, 2010
for a period of 5 years at the Board Meeting
held on 13th August, 2010 subject to the
approval of the members. Separate resolution
has been put up for consideration by the
members.
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