| DIVIDEND |
| The Board of Directors in its meeting held on 30th October, 2009 declared an interim
dividend and today has recommended the final dividend for the year ended 31st March, 2010 on Ordinary Shares as under : |
| |
31st
March,
2010
|
31st
March,
2009 |
| (Rs.) |
(Rs.) |
Interim on 4,57,43,318 Ordinary Shares of Rs.10/- each
@ Rs.2.25 per Share
(Previous year 2.25 per Share ) |
10,29,22,466 |
10,29,22,466 |
Final on 4,57,43,318 Ordinary Shares of Rs.10/- each
@ Rs. 3.25 per Share
(Previous year Rs.3.25 per Share ) |
14,86,65,784 |
14,86,65,784 |
|
| Thus, the total dividend of Rs.5.50 per share, as per detail given herein above, has been paid / recommended by the Board for the
financial year ended 31.03.2010. |
| |
| AUDIT REPORT |
As regards paragraphs 3.1(b) and 3.2(a) referred to by the Auditors in its Report, the physical verification of the fixed assets (in phased manner) and inventories as referred in para nos. 3.1(b) and 3.2(a) respectively at the Spun Pipes & Foundries Section of the Company, could not be carried out due to continued suspension of work and barricade in front of the factory gate by a section of workers at the said Section. So far as paragraphs 3.9(b) and 3.16 of the report are concerned, the same are self-explanatory and need no further explanation. Regarding the paragraph 3.19 of the Report, the necessary security or charge pending to be created in respect of Short-term Debentures will be created within the stipulated time provided by law if not redeemed before. Further, the immovable properties of Birla Tyres, a Section of the
Company at Uttarakhand, could not be created due to continuing verification of search report of the said properties by the empanelled lawyer of the Lead Banker, State Bank of India. The Short-term Debentures issued during the year were redeemed before the security could have been created within the stipulated period provided by law.
|
| Further, paragraph 4(f) referred to by the Auditors’ in its Report is self-explanatory and requires no explanation. |
