Atul Ltd 2011-12

Atul Ltd | Annual Report 2011-12 Listing The Company has paid the annual listing fees for the year 2012-13 to Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd. Fixed Deposits Fixed deposits amounting to ` 0.17 cr as on March 31, 2012 were not claimed by the depositors. The fixed deposits which matured on or before March 31, 2005, but remained outstanding since then were transferred to the Investor Education and Protection Fund as required under Section 205 C of the Companies Act, 1956. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings & Outgo and Employees Information required under Section 217(1)(e) of the Companies Act, 1956, read with Rule 2 of the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 and information as per Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules,1975, as amended from time to time, forms a part of this Report. However, as per the provisions of Section 219(1) (b)(iv), the Report and Accounts are being sent to all the Members excluding the information relating to conservation of energy, technology absorption, foreign exchange earnings & outgo and the statement of particulars of employees. Any Member interested in obtaining such particulars may inspect the same at the registered office of the Company or write to the Company Secretary for a copy. Subsidiary Companies The Company has nine subsidiary companies namely, Atul Rajasthan Date Palms Ltd, DPD Ltd, Atul Bioscience Ltd, Atul USA Inc, Atul Europe Ltd, Atul Deutschland GmbH, Atul China Ltd, Atul Brasil Quimicos Ltda and Ameer Trading Corporation Ltd. Pursuant to the general exemption granted by the Central Government, details as provided under Section 212(1) of the Companies Act, 1956 in respect of the subsidiary companies are not attached. However, the Investors may seek the copies of the Annual Reports and related detailed information of the subsidiary companies by writing to the Company Secretary at the registered office. Directors’ Responsibility Statement Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors confirm that to the best of their knowledge and belief: (i) In the preparation of the annual accounts, the applicable Accounting Standards were followed (ii) Such Accounting Policies were selected and applied consistently and such judgements and estimates were made that were reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on March 31, 2012 and of the profit of the Company for the year ended on that date (iii) Proper and sufficient care was taken to maintain adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities (iv) The attached annual accounts for the year ended March 31, 2012 were prepared on a going concern basis. Auditors Dalal & Shah, the Statutory Auditors of the Company, will retire at the conclusion of the ensuing AGM. They have given their consent to continue to act as the Auditors for 2012-13, if reappointed. The relevant notes forming a part of the accounts are self explanatory and give full information and explanation in respect of the observations made by the Auditors in their Report. Acknowledgements The Board of Directors expresses its sincere thanks to all the customers, employees, investors, lenders, suppliers, regulatory and Government authorities and the Stock Exchanges for their continuing support. For and on behalf of the Board of Directors Mumbai Sunil S Lalbhai May 15, 2012 Chairman & Managing Director