Friends

On behalf of the Executive Committee it gives me great pleasure to welcome you to this meeting and to present the 8th annual report and the audited accounts of RRVRPOA for the financial year ended 31st March 2011.

Accounts:
Thanks to our prudent management we continue to have a surplus which is transferred to reserves and which will be used in due course for the maintenance and improvement of the infrastructure as and when the need arises. Despite increases in the cost of labour we have been able to cut down on other expenses.

Capital Expenditure and Current projects:
During the current year we have signposted the entire estate. This will help plot holders to find their way about. We have also started on a programme of re-fencing the external perimeter to prevent encroachment and unwarranted entry by persons and stray animals.

We have purchased a new submersible pump, which is more efficient and more economic.

At the last AGM the EC was requested to come up with a suitable plan for the outsourcing of individual plot development. This has been done and members have been kept informed of our proposals. We also plan to landscape the area around the club house and this work too will be outsourced.

Membership:
Our membership continues to grow and we welcome the following new members:

Plot	Name
14	Mr Suraj Vasanthan
19/20	Dr Rustom Ginwalla
15/16	Mr.Dileep Warrier
49	Mr A H Lobo
50	Mrs Smitha Shyam
76	Mrs Sylvia Mason
203	Mr Chandukutty
215	Mr B K Soni
234/35	Mr Sreedhar Somendra
246/47	Mr Winston DCruz
293	Mr Vivek Thiagarajan
298	Mr Prasanna Kumar
371	Mr Arun Kumar
396	Mrs Belinda Soares
401/2/7 to 10	Mrs Rachna Amin

All these members
have paid all arrears as per the resolutions of the GB. We thank them for their cooperation.

The association has also been instrumental in putting prospective buyers in touch with those members who wish to sell their plots. We shall continue to do so. As of now, more than 200 of the 302 sold plots in RRV are held by members of our association.

Arrears:
The following members are in arrears for more than 5 years. It is a shame that while the majority of members pay their dues on time there are some who, despite all our efforts, prefer not to pay what is a very small amount which ensures the security and maintenance of their common property. We call on them to regularise their position immediately.
- Salma Jaffer
- Prakash Rao (USA)
- C Suppiah (Australia )

There are several plot holders who have still not joined the association. It is unfair to expect to be subsidised by other members. We urge all those who have not yet done so, to join the association. A community such as ours can only function effectively if we show mutual respect to and extend cooperation to the general body of members. By failing to pay their dues on time, members in arrears are failing in this very important civic duty. We have offered instalment payment facilities to members with large arrears and this has been taken up by several members.

Legal Matters:
We are happy to inform members that there are now no outstanding cases against the association, the case in Hosur having been dismissed. This is the logical follow up to the agreement we have signed with RCH and we thank them for their cooperation. For procedural reasons the judgement has not yet been delivered and we await a copy of the same. Members will be kept informed.

Looking Ahead:
We are currently running RRV at a minimum level. RRV is now more than 15 years old and there is an urgent need to overhaul the infrastructure. Without this the assets that we have will just waste away and the cost of replacing them will be prohibitive. At the last AGM, the EC was authorised to spend a sum of Rs 8 lacs to overhaul the infrastructure. After much discussion it was decided to hold back from spending this money till such time as we had a clear idea of how we wanted RRV to evolve over the next few years.

The EC has requested a few plot holders viz. Vikram Chaudhari, Zarir Batliwala,

Chiranjib Sen and Raj Ajjampur to reflect on the future direction that needs to be taken in order to unlock the value that is inherent in a property such as RRV, and what needs to be done to generate an additional revenue stream that can then be used for maintenance and development. These discussions will continue, with the participation of the erstwhile promoters M/s Rema Country Holdings, and the general body will be kept informed. We feel that it would be prudent to await the outcome of these deliberations before spending large sums of money on the infrastructure. We hope that by the time of the next AGM some clarity can be achieved.

The emphasis for the next year should be to complete the fencing of the property, overhaul the water distribution system and put in place an efficient water management programme. We should also work on ways in which we, as a community, can help in the development of the villages of which we form a part. One area would be to help in the higher education of deserving students from Thandrai and Pancheswaram villages.

Members may be aware that our EC member and fellow plot holder, Ms Nomita Chandy, has been awarded the Padma Shri by the President of India, in recognition of her work in the field of child welfare. This is a great honour. We offer Nomita Chandy our congratulations and wish her all success in the future.

Once again we realise that the EC members are unable to devote the time necessary to running RRV on a professional basis. The resources available, both material and human, are unequal to the task. We need more members to take an active interest in the running of RRV and we invite them to serve on the EC. We also need fresh ideas from members.

We would like to place on record our thanks to our staff under the leadership of our estate manager Mr. Rajan.

I would like to end by thanking all members who served on the EC this year.

Rema Rainbow Valley

1^stMay 2011