| AUDITOR'S REPORT |
| In response to the Auditor's observations in their Report, the Board wishes to state as follows : |
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Paragraph 4(a) and Paragraph 21 of the Annexure to the Report : |
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Note No.31 of the Financial Statements is self explanatory and do not call for any further comment. |
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Paragraph 4(b) : |
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As stated in Note No.24 of the Financial Statements, it is reiterated that the principles of prudence have been duly considered by the Company in recognising the income referred to by the Auditors in their Report. |
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| COST AUDIT |
| As per directives of the Central Government under Section 233B of the Companies Act, 1956, the Company has appointed qualified Cost Auditors to conduct compliance reporting and cost audit on such of its products in which audit has been ordered by the Central Government. |
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| PARTICULARS OF EMPLOYEES |
| The information required under Section 217(2A) of the Companies Act, 1956 read together with the Companies (Particulars of Employees) Rules, 1975, forms a part of this Report. However, based upon the provisions of Section 219(1)(b)(iv) of the Act, the Report and Accounts that are being circulated to Members do not include the Statement of Particulars of Employees under Section 217(2A). Any Member interested in obtaining a copy may write to the Company Secretary at the Registered Office and a copy thereof will be forwarded by post. |
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| CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO |
| A Statement containing the information, as required under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, is annexed. |
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