2010-11 - Grasim

HARISH CEMENT LIMITED
DIRECTOR
OR’S REPORT
Dear Shareholders,
Your Directors have pleasure in presenting the Fifteenth
Annual Report together with the Audited Accounts of
your Company for the year ended 31 st March 2011.
OPERATIONS
During the year under review, your Company incurred
an expenditure of ` 22.52 crores towards purchase of
land for plant and mining site area. It also incurred
preoperative expenses of ` 4.34 crores.
Your Company did not carry on any business activities
and accordingly no Profit & Loss account has been
prepared.
FIXED DEPOSITS
Your Company has not accepted any fixed deposit
during the year ended 31 st March, 2011.
DIRECTOR
ORS’ RESPONSIBILITY STATEMENT
TEMENT
As required under Section 217 (2AA) of the Companies
Act, 1956 (“the Act”), your Directors confirm that:
i) in the preparation of the Annual Accounts,
applicable accounting standards have been
followed along with proper explanation relating to
material departures, if any;
ii) the accounting policies selected have been applied
consistently and judgments and estimates are
made that are reasonable and prudent so as to
give a true and fair view of the state of affairs of
your company as at 31 st March, 2011;
iii) proper and sufficient care has been taken for the
maintenance of adequate accounting records in
accordance with the provisions of the Act for
safeguarding the assets of your Company and for
preventing and detecting the fraud and other
irregularities; and
iv) the Directors had prepared the annual accounts
on a going concern basis.
AUDI
UDITOR
ORS’ S’ REPORT
There are no adverse comments, observation or
reservation in the Auditors’ Report on the Annual
Accounts of your Company.
The Notes to the Accounts referred to in the Auditors’
Report are self explanatory and therefore do not call
for any further comments from the Directors under
Section 217(3) of the Act.
PAR
ARTICULAR
TICULARS OF EMPLOYEES
Section 217(2A) of the Act read with the Companies
(Particulars of Employees) Rules, 1975 do not apply to
your Company as none of its employees are covered
under these provisions.
CONSERVATION OF ENERGY
GY, TECHNOLOGY
GY
ABSORPTION, FOREIGN EXCHANGE EARNINGS &
OUTGO
During the year under review, your Company did not
carry any commercial / business activity and
accordingly particulars under conservation of energy,
technology absorption, foreign exchange earnings and
outgo are not applicable.
AUDI
UDITOR
ORS
M/s G.P. Kapadia & Co., Chartered Accountants,
Mumbai the existing Auditors will retire at the ensuing
Annual General Meeting of your Company. They being
eligible to be re-appointed have expressed their
willingness to be re-appointed as the Statutory Auditors
of your Company for the financial year 2011-12. A
resolution seeking your approval for the re-appointment
of the said auditors has been included in the Notice
convening the Annual General Meeting.
ACKNO
CKNOWLEDGEMENT
The Board of Directors wish to place on record their
appreciation for the support and co-operation extended
by UltraTech Cement Limited, the Auditors and the
Bankers of your Company.
For and on behalf of the Board of Directors
Place: Mumbai
Date: 18 th April, 2011
R. M. Gupta Arun Daga
Director
Director
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