In the year 2001, Shri Gautam Hari Singhania introduced the concept of corporatisation of designer wear in India. The legal process for the said amalgamation is expected to be completed shortly. Sulochanadevi Singhania School at Thane, Maharashtra run by Smt. During the year under review, the company made loss of ' 39. The Company recorded Profit after tax of Rs.
The company was able to sustain profitability through introduction of high margin value added products. During the year under review, your Company transferreda sum of ' 21 crore to the Debenture Redemption Reserve Previous Year: ' 43. Foreign Exchange Earnings and Outgo: Despite adverse conditions in the global markets and stiff competition impacting average realization, Textile Division recorded a substantial increase of 21 per cent in exports, in comparison with the previous year, to Rs. Quality, design, new products, higher levels of service to mid-premium and premium customers have resulted in stability of customers internationally and new customers being attracted for an integrated offering. Shri Sanjay Bahl : Chief Financial Officer w. Accordingly, this Annual Report does not contain the financial statements of these subsidiaries.
This company is yet to commence business operations. The Consolidated Profit after tax stood at ' 92. Because, no matter what changes, our business has been — and will remain — putting you and your financial well-being first. Approval has also been given for 24 new textile parks which will further create employment opportunities and investments. The company had a profit after tax of ' 13. Profit before tax and exceptional items was Rs.
The day-to-day operations of the Company are conducted by the Chairman and Managing Director, subject to the supervision and control of the Board of Directors. The fiscal and monetary policies implemented by the Government of India helped the economy to weather the downturn phase. The fundamental strength of this industry flows from its strong production base of wide range of fibres and yarns rangingfrom natural fibres to man-made fibres. Singhania also accomplished a New High Altitude Indian Record in a Hot Air Balloon by climbing to 29,044 ft. Inflation has come down, however industrial activity and consumption has not been buoyant. As on March 31, 2016, none of the Directors of the Company hold instruments convertible into equity shares of the Company. A number of rationalisation and restructuring initiatives were taken during the year under review to further consolidate its strengths and position itself to take advantage of the upturn.
Singhania yet another entry into the Guinness Book of World Records and a Gold Medal form the Royal Aero Club of U. The performance evaluation of the Independent Directors was completed. The appointed date of this amalgamation is April 1, 2009. Conflict and controversial issues may exist between accounting standard. During the year under review, there is no change in the Board of Directors of the Company.
The Company's approach to addressing business risks is comprehensive and includes periodic review of such risks and a framework for mitigating controls and reporting mechanism of such risks. The bankruptcy proceedings are in progress. The auditors conducted the audit in accordance with the auditing standards generally accepted in India and all the information and explanations obtained was to the best of their knowledge and belief. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors. Your Company in its pursuit to de-risk dependence on traditional wool sources has developed alternate vendors in other countries.
Agarwal, aged 69 years, is an Independent Director. We also thank the Central Government, the concerned State Governments and other Government authorities for their support and cooperation. The Company's policy requires conduct of operations in such a manner, so as to ensure safety of all concerned, compliances of environmental regulations and preservation of natural resources. They may have slightly different prospective of view on accounting standards. The Company is mitigating these risks through regular review of legal compliances carried out through internal as well as external compliance audits. The Board reviews the performance of the Company every quarter vis-a-vis the targets set by them and helps in the major strategic decisions and policy formulations.
Market Share of Competition: Raymond vs. The web-link of the same has been provided in the Corporate Governance Report. University of Aberdeen - 2012 Page 2 2. Nawaz Gautam Singhania, Director, retires by rotation at the forthcoming Annual General Meeting and, being eligible offers herself for re-appointment. It can reduce conflict between accounting standards and political interference in the standard setting process. Your Directors also wish to thank our customers, dealers, agents, suppliers, joint venture partners, investors and bankers for their continued support and faith in the Company. The company made a loss of ' 6.
The Group has its corporate headquarters at Mumbai. Members who are interested in obtaining these particulars may write to the Company Secretary at the Registered Office of the Company. Private Client Group More than 7,300 financial advisors — affiliated as traditional employees, independent contractors, independent registered investment advisors or financial institution-based advisors — provide financial planning, investment advisory and securities transaction services through 3,000 branch offices. The loss for the year after tax and exceptional items was Rs. The Company has developed a framework through Standard Operating Procedures for the purpose of identification and monitoring of such Related Party Transactions. Shri Khetrapal has over 33 years of experience in managing businesses in diverse industries.
Celebrations Apparel Limited The gross turnover of the Company was Rs. This feat has earned Dr. The Company closed down the operations at its high cost Thane unit in December 2009. Cotton prices dropped whereas polyester and viscose surged. The Company had 7197 employees as at March 31, 2016.