Polychem Limited

August 30, 1969 I have already mentioned, how your Managing Agents have been looking after the interest of shareholders and have worked for a steady expansion of the Company. You will agree with me that they have rendered a good account both in good and difficult times, and have led your Company on to success. In my view it would have been quite beneficial to the Company if this system Of management could be continued. But it is not to be. Even if this system of management is to cease, I assure you, your Directors and Managing Agents are considering carefully the question of providing your Company with an alternate management, equally effective and efficient, to ensure continued prosperity of your Company for the benefits of all concerned. When a decision has been reached by your Board of Directors, the proposal will be placed before you for your approval THANKS All our expansion programmes need finance, the more facilities we get, faster will be our progress. In this matter, I have to place on record our high appreciation, of the financial facilities afforded to us by Industrial Finance Corporation of India and our Bankers whose understanding help has contributed to the results we have been able to achieve.