Octavius Steel & Co Limited Directors Report for the Year Ended 31st December 1951

The Directors submit the Balance Sheet of the Company as at 31st December 1951 together with the Profit and Loss Account for the year ended 31st December 1951. [...] 35.000 Ad-interim dividend of 21% for the year 1951 without any deduction for Income Tax paid by the Company—already paid 1 25 000 Final dividend of 5% for the year 1951 without any deduction for Income Tax paid by the Company 2 50 000 Write off—Goodwill 1 00 000 Transfer to General Reserve 1 75 000 Transfer to Investment Reserve 11 29 026 Transfer to Contingencies Reserve 50 000 Carry forward Rs. [...] In accordance with the provisions of Section 132A of the Indian Companies Act copies of the Balance Sheets as at 31st December 1951 and the Revenue and Profit & Loss Accounts forthe year ended 31st December 1951 of the Methoni Tea Co. [...] We report that we have audited the Balance Sheet of OCTAVIUS STEL AND COMPANY OF PAKISTALIMITED as at 31st December 1951 and the Profit and Loss Account for the year ended 31st December 1951 and have obtained all the information and explanations we have required. [...] In our opinion such Balance Sheet and Profit and Loss Account are drawn up in coformity with the Law and the Balance Sheet exhibits a true and correct view of the state of the Company’s affairs according to the best of our information and the explanations given to us and as shown by the books of the Company.