Ashok Leyland Limited

critical and their withdrawal therefore will not pose any insuperable problem. The major benefit of the Allied participation lay in assuring to the Company the necessary supplies of ammonia, phosphoric acid and sulphur from Iran through their participation, along with the National Petrochemical Company of Iran, in the Shapur Chemical Company. Since the withdrawal of Allied Chemical, the National Petrochemical Company, which is owned by the Government of Iran through the National Iranian Oil Company, has undertaken THE following is the Speech delivered by Sir A Ramaswami Mudaliar, KCSI, DCL (Oxon) Chairman, Ashok Lcyland Limited to the Shareholders at the Twentieth Annual General Meeting of the Company held on 4th January 1969 at Ennore, Madras-57.