Mar 31, 2015
Dear Members,
Your Directors are pleased to present their Annual Report on the
Business and operations of the Company together with the Audited
Statement of Accounts for the year ended 31st March, 2015.
Financial Results
The financial performance of your Company for the year ended March 31,
2015 is summarized below:
(Rs Lacs)
Particulars 2014-2015 2013-2014
Sales 64.59 60.43
Other Income 12.74 9.32
Total Income 77.33 69.75
Total Expenses 67.93 61.59
Profit/(Loss)Before Tax 9.41 8.16
Tax - -
Current Tax - 2.50
Deferred Tax - -
Net Profit After Tax 9.41 5.66
The Company has achieved modest profit of Rs. 9.41 lacs (previous year
profit was Rs. 5.66), due to cost control exercise & better product
mix.
Future Outlook
The Company main activities is manufacturing of Notebook & servicing of
all brands of computers, laptop, tab, etc.
Dividend
The Board of Directors does not recommend any Dividend for the year
under review.
Subsidiaries, Joint Ventures and Associates Companies
The Company does not have any subsidiaries, joint venture & associates
Company.
Acceptance of Fixed Deposits
The Company has not accepted any Fixed Deposits from general public
within the purview of Section 73 of the Companies Act, 2013, during the
year under review.
Consolidated Financial Statement
The audited consolidated financial statement of the Company prepared in
accordance with relevant Accounting Standards (AS) issued by the
Institute of Chartered Accountants of India forms part of this Annual
Report. The Compliance Officer will make these documents available upon
receipt of a request from any member of the Company interested in
obtaining the same. These documents will also be available for
inspection at the Registered Office of your Company during working
hours up to the date of the Annual General Meeting.
Other Corporate Information
The Registered Office of the Company was shifted to the present
premises in Andheri (west), Mumbai on 21st January, 2015. The face
value of the equity shares of the Company was split from Rs. 10/- to
Re. 1/- during August, 2014.
Particulars Of Contract Or Arrangement With Related Party
There is no transaction with Related Party which requires disclosure
under Section 134(3)(h) of the Companies Act, 2013 and Rule 8(2) of the
Companies (Accounts) Rules, 2014. The policy on materiality of related
party transactions and also on dealing with related party transactions
as approved by the Board may be accessed on the Company website.
Loans, Investment And Guarantees By The Company
There is no loan given, investment made, guarantee given or security
provided by the Company to any entity under Section 186 of the
Companies Act, 2013. Particulars of Investment made/loan given under
section 186 of the Companies Act, 2013 are provided in the financial
statement.
Internal Financial Controls
The Internal Financial Controls with reference to financial statements
as designed and implemented by the Company are adequate. During the
year under review, no material or serious observations has been
received from the Auditor of the Company for inefficiency or inadequacy
of such controls.
Disclosures under Section 134(3)(I) of the Companies Act, 2013
No material changes and commitments which could affect the Company
financial position have occurred between the end of the financial year
of the Company and the date of this report, except as disclosed
elsewhere in this report.
Number Of Meeting Of Board Of Directors
The Board of Directors have met 8 times and Independent Directors once
during the year ended 31st March, 2015 in accordance with the
provisions of the Companies Act, 2013 and rules made there under. All
the Directors actively participated in the meetings and contributed
valuable inputs on the matters brought before the Board of Directors
from time to time.
Directors
Mr. Mohit Tyagi, Director of the Company have resigned on 19th
December, 2014 on account of his pre-occupation. The Board of Directors
of the Company places on record the valuable contribution given to the
Company during their tenure.
The Company has formulated a policy on director appointment &
remuneration including criteria for determining qualifications,
positive attributes independence of director & other matters as
provided under section 178(3) of the Companies Act, 2013 & such policy
is annexed with the Director Report. The details of familiarization
programme for Independent Directors have been disclosed on website of
the Company. Pursuant to the provisions of the Companies act 2013 and
Clause 49 of the Listing Agreement evaluation of every Directors
performance was done by the Nomination and Remuneration Committee. The
performance evaluation of the Non - Independent Directors and the Board
as a whole, committees thereof and the chair person of the company was
carried out by the Independent Directors. Evaluation of the Independent
Directors was carried out by the entire Board of Directors, excluding
the Directors being evaluated. A structured questionnaire was prepared
after circulating the draft norms, covering various aspects of the
evaluation such as adequacy of the size and composition of the Board
and Committee thereof with regard to skill, experience, independence,
diversity, attendance and adequacy of time given by the directors to
discharge their duties, Corporate Governance practices etc. The
Directors expressed their satisfaction with the evaluation process. The
following policies of the company are attached herewith and marked as
Annexure 1, Annexure 2A and Annexure 2B. Policy on appointment of
Directors and Senior Management (Annexure 1) Policy on Remuneration to
Directors' (Annexure 2A) Policy on Remuneration of Key Managerial
Personnel and Employees (Annexure 2B).
Declarations by Independent Director
Pursuant to the provisions of Sub-Section (7) of Section 149 of the
Companies Act 2013, the Company has received individual declarations
from all the Independent Directors confirming that they fulfill the
criteria of independence as specified in Section 149(6) of the
Companies Act 2013. As per Section 149 of the Companies Act, 2013, an
independent director shall hold office for a term up to five
consecutive years on the board of a company, but shall be eligible for
re- appointment for another term up to five years on passing of a
special resolution by the company and disclosure of such appointment in
Board's Report. Further Section 152 of the Act provides that the
independent directors shall not be liable to retire by rotation in the
Annual General Meeting ('AGM') of the Company.
As per Revised Clause 49 of the Listing Agreement (applicable from
October 1, 2014), any person who has already served as independent
director for five years or more in a company as on October 1, 2014
shall be eligible for appointment, on completion of the present term,
for one more term of up to 5 (five) years only.
Auditors
Pursuant to the provisions of section 139 of the Companies Act, 2013
and the Rules made there under, the current auditors of the Company,
M/s. Chirag C. Mehta& Co, Chartered Accountants, is eligible to hold
the office for a period of five years up to 2019. However their
appointment as Statutory Auditors of the Company is subject to
ratification by the Members at every AGM. The Company has received a
certificate from the Auditor that, he is not disqualified for re-
appointment within the meaning of Section 141 of the Companies Act,
2013 and his appointment, if made would be within the limits specified
in Section 139 of the said Act.
Necessary Resolution for ratification of appointment of said Auditor is
included in the Notice of AGM for seeking approvals of the Members.
Auditors Report
The observations and comments furnished by the Auditors in their report
read together with the notes to Accounts are self- explanatory and
hence do not call for any further comments under Section 217 of the
Companies Act, 1956.
Directors Responsibility Statement
In accordance with the requirement of Section 134 of the Companies Act,
2013, the Board of Directors of the Company confirms:
i. In the preparation of the annual accounts for the financial year
ended 31st March, 2015 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
ii. That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company at the end of the financial year and of the
profit and loss of the Company for the year ended 31st March, 2015.
iii. That the Directors have taken sufficient and proper care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting material fraud and other
irregularities.
iv. That the Directors have prepared the Annual Accounts on a going
concern basis.
v. There are no material changes & commitments, if any, affecting the
financial position of the company which have occurred between the end
of the financial year of the company to which the financial statements
relate & the date of the report.
vi. That there no contracts or arrangement with related parties
referred to in sub- section (1) of section 188.
Annual Evaluation By The Board Of Its Own Performance, Its Committees
And Individual Directors
The Board of Directors of the Company has initiated and put in place
evaluation of its own performance, its committees and individual
directors. The result of the evaluation is satisfactory and adequate
and meets the requirement of the Company.
Details Of Committee Of Directors
Composition of Audit Committee of Directors, Nomination and
Remuneration Committee of Directors and Stakeholders
Relationship/Grievance Committee of Directors, number of meetings held
of each Committee during the financial year 2014-15 and meetings
attended by each member of the Committee as required under the
Companies Act, 2013 are provided in Corporate Governance Report and
forming part of the report. The recommendation by the Audit Committee
as and when made to Board has been accepted by it.
Risk Management
During the year, Management of the Company, evaluated the existing Risk
Management Policy of the Company to make it more focused in identifying
and prioritizing the risks, role of various executives in monitoring &
mitigation of risk and reporting process. Its aim is to enhance
shareholders value and provide an optimum risk-reward tradeoff. The
Risk Management Policy has been reviewed and found adequate to the
requirements of the Company, and approved by the Board. The Management
evaluated various risks and that there is no element of risk
identified that may threaten the existence of the Company.
Whistle Blower Mechanism
The Company has put in place Whistle Blower Mechanism. The detailed
mechanism is given in Corporate Governance Report forming part of this
report.
Corporate Social Responsibility
The Section 135 of the Companies Act, 2013 regarding Corporate Social
Responsibility Committee is not applicable to the Company as the Net
Profit of the Company is below the threshold limit prescribed by the
Companies Act, 2013.
Conservation Of Energy, Technology Absorptions And Foreign Exchange
Earnings And Outgo
The information relating to the conservation of energy, technology
absorption foreign exchange earnings and outgo under provisions of 134
of the Companies Act, 2013 is not applicable to the Company,
considering the nature of its business activities. Further the Company
has not earned nor spends foreign exchange during the year under
review.
Particulars Of Employees
None of the employees of the Company is in receipt of remuneration
prescribed under Section 197(12) of the Companies Act, 2013, read with
the Rules 5(2) & 5(3) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014.
Significant And Material Orders Passed By The Regulators Or Courts
During the year under review, there were no significant and material
orders passed by the regulators or courts or tribunals, which may
impact the going concern status of the Company and its operations in
future.
Secretarial Audit Report
A Secretarial Audit Report for the year ended 31st March, 2015 in
prescribed form duly audited by the Practicing Company Secretary M/s.
is annexed herewith and forming part of the report.
Extract Of Annual Return
Pursuant to Section 134(3)(a) of the Companies Act, 2013 read with Rule
12(1) of the Companies (Management and Administration) Rules 2014, the
extract of annual return is annexed herewith and forming part of the
report. (Annexure - I)
Corporate Governance
As per clause 49 of the listing agreement with stock exchanges, a
separate section on Corporate Governance forms part of the Annual
Report. A certificate from the Auditors of your Company regarding
compliance of conditions of Corporate Governance, as stipulated under
clause 49 of the Listing Agreement and a declaration by the Managing
Director with regard to Code of Conduct is attached to the Report on
Corporate Governance.
Managing DirectorÂs Certificate
A Certificate from the Managing Director in respect of the Financial
Statements forms part of the Annual Report.
Management Discussion And Analysis Report
Management Discussion and Analysis Report for the year under review, as
stipulated under clause 49 of the Listing Agreement with the Stock
Exchanges in India, is presented in a separate section forming part of
the Annual Report.
Presentation Of Financial Statements
The financial statements of the Company for the year ended 31st March,
2015 have been disclosed as per Schedule III to the Companies Act,
2013.
Statutory Disclosures
A copy of audited financial statements of the said Companies will be
made available to the members of the Company, seeking such information
at any point of time. A cash flow statement for the year 2014-2015 is
attached to the Balance Sheet. Pursuant to the legislation 'Prevention,
Prohibition and Redressal of Sexual Harassment of Women at Workplace
Act, 2013' introduced by the Government of India, the Company has a
policy on Prevention of Sexual Harassment at workplace. There was no
case reported during the year under review under the said policy.
Acknowledgement
Yours Directors take this opportunity to thank the Financial
Institutions, Banks, Business Associates, Central and State Government
authorities, Regulatory authorities, Stock Exchanges and all the
various stakeholders for their continued co-operation and support to
the Company and look forward to their continued support in future.
We very warmly thank all of our employees for their contribution to
your Company's performance. We applaud them for their superior levels
of competence, dedication and commitment to your Company.
Place: Mumbai By Order of the Board
Date: August 31, 2015 For Allied Computers International
(Asia) Limited
Sd/- Sd/-
Hirji K Patel Rakesh G. Naik
Managing Director Director
DIN - 00157481 DIN - 05236731
Mar 31, 2014
Dear members,
The Directors are pleased to present their Annual Report on the
Business and operations of the Company together with the Audited
Statement of Accounts for the year ended 31st March, 2014.
FINANCIAL RESULTS
The financial performance of your Company for the year ended March 31,
2014 is summarized below:
(Rupees in Lacs)
Particulars 2013-2014 2012-2013
Sales 60.43 344.45
Other Income 9.32 27.10
Total Income 69.75 371.55
Total Expenses 61.59 357.96
Profit/(Loss)Before Tax 8.16 13.59
Tax - -
Current Tax 2.50 -
Deferred Tax - -
Net Profit After Tax 5.66 13.59
The year was extremely challenging for the Company, but Company has
achieved modest profit of Rs. 5.66 lacs (previous year profit was Rs.
13.59), due to cost control exercise.
FUTURE OUTLOOK:
The Company main activities is manufacturing of Notebook & servicing of
all brands of computers, laptop, tab, etc. The Company expects better
prospect in near future, as present Government, having absolute
majority in the house is pushing for various reforms & infrastructure
projects, wherein our products are vital for their operations.
DIVIDEND:
The Board of Directors does not recommend any Dividend for the year
under review SUBSIDIARY COMPANIES:
The Company does not have any subsidiary Company within the meaning of
section 4 of the Companies Act, 1956. Thus the Company is not required
to furnish a statement pursuant to the provisions of Section 212 of the
Companies Act, 1956.
ACCEPTANCE OF FIXED DEPOSTIS:
The Company has not accepted any Fixed Deposits from general public
within the purview of Section 58A, of the Companies Act, 1956, during
the year under review.
OTHER CORPORATE INFORMATION:
The Shareholders of the Company in their meeting held on 26th August,
2014 has approved to split the face value of the shares from Rs. 10/-
to Re. 1/- per share. The Statutory Auditor M/s. Rajeev Sood & Co.,
Chartered Accountant have resigned as Auditor of the Company on 30th
September 2014, hence Company has appointed M/s. Chirag C. Mehta& Co.,
as a Chartered Accountants of the Company for the year ended 31st
March, 2014. The Company has obtained permission from ROC, Maharashtra
to hold the AGM of the Company up to 30th December, 2014 for the year
ended 31st March, 2014.
AUDITORS:
The Statutory Auditors, M/s. Chirag C. Mehta& Co, Chartered
Accountants, had been appointed to hold office until the conclusion of
the ensuing Annual General Meeting; however he is also eligible for re-
appointment and his willingness for re- appointment have been intimated
to the Company well in advance. Further he has also confirmed that he
is not disqualified for re- appointment within the meaning of Section
141 of the Companies Act, 2013 and his appointment, if made would be
within the limits specified in Section 139 of the said Act.
Pursuant to the provisions of section 139 of the Companies Act, 2013
and the Rules made there under, the current auditors of the Company,
M/s. Chirag C. Mehta& Co, Chartered Accountants, is eligible to hold
the office for a period of five years up to 2019 (subject to
ratification at each year AGM).
The members are therefore requested to appoint M/s. Chirag C. Mehta&
Co, Chartered Accountants as auditors for five years from the
conclusion of the ensuing Annual General Meeting till the conclusion of
the annual general meeting to be scheduled in 2019 subject to
ratification at each year AGM and to fix their remuneration for the
year 2014-15.
AUDITORS REPORT:
The observations and comments furnished by the Auditors in their report
read together with the notes to Accounts are self- explanatory and
hence do not call for any further comments under Section 217 of the
Companies Act, 1956.
DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the requirement of Section 217 (2AA) of the
Companies Act, 1956, the Board of Directors of the Company confirms:
i. In the preparation of the annual accounts for the financial year
ended 31st March, 2014 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
ii. That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company at the end of the financial year and of the
profit and loss of the Company for the year ended 31st March, 2014.
iii. That the Directors have taken sufficient and proper care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting material fraud and other
irregularities.
iv. That the Directors have prepared the Annual Accounts on a going
concern basis.
v. There are no material changes & commitments, if any, affecting the
financial position of the company which have occurred between the end
of the financial year of the company to which the financial statements
relate & the date of the report.
vi. That there no contracts or arrangement with related parties
referred to in sub-section (1) of section 188.
CORPORATE GOVERNANCE:
As per clause 49 of the listing agreement with stock exchanges, a
separate section on Corporate Governance forms part of the Annual
Report.
A certificate from the Auditors of your Company regarding compliance of
conditions of Corporate Governance, as stipulated under clause 49 of
the Listing Agreement and a declaration by the Managing Director with
regard to Code of Conduct is attached to the Report on Corporate
Governance.
MANAGING DIRECTOR''S CERTIFICATE:
A Certificate from the Managing Director in respect of the Financial
Statements forms part of the Annual Report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
Management Discussion and Analysis Report for the year under review, as
stipulated under clause 49 of the Listing Agreement with the Stock
Exchanges in India, is presented in a separate section forming part of
the Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTIONS AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The information relating to the conservation of energy, technology
absorption foreign exchange earnings and outgo under provisions of
217(1)(e) of the Companies Act, 1956 is not applicable to the Company,
considering the nature of its business activities. Further the Company
has not earned nor spends foreign exchange during the year under
review.
PARTICULARS OF EMPLOEES:
None of the employees of the Company is in receipt of remuneration
prescribed under Section 217(2A) of the Companies Act, 1956, read with
the Companies (Particulars of Employees) Rules, 1975. Thus furnishing
of particulars under the Companies (Particulars of Employees) Rules
1975 does not arise.
DIRECTORS
During the year Mr. Rakesh Ganesh Naik, Mrs. Reshma R Malagavakar & Mr.
Mohit Tyagi were appointed as Director W.e.f. 1st July, 2013, 1st
October 2014 & 7th July 2014 respectively. Mr. Mansukh Vaghani, Mr.
Govind Kara & Mr. Gajendra Singh & Mrs. Namita Agarwal have resigned as
Directors of the Company w.e.f. 2nd December, 2013, 24th October 2013
& 2nd December 2013 & 01st March, 2014 respectively.
The Board places on records its deep appreciation and respect for the
valuable advice and guidance received from Mr. Mansukh Vaghani, Mr.
Govind Kara and Mr. Gajendra Singh & Mrs. Namita Agarwal during their
tenure as Directors of the Company.
ACKNOWLEDGEMENT:
Yours Directors take this opportunity to thank the Financial
Institutions, Banks, Business Associates, Central and State Government
authorities, Regulatory authorities, Stock Exchanges and all the
various stakeholders for their continued co-operation and support to
the Company and look forward to their continued support in future.
We very warmly thank all of our employees for their contribution to
your Company''s performance. We applaud them for their superior levels
of competence, dedication and commitment to your Company.
By Order of the Board
For Allied Computers International
(Asia) Limited
SD/-
Place: Mumbai. Hirji Kanji Patel
Date: 11th November, 2014. Managing Director
(DIN No.: 00157481)
Mar 31, 2013
To, The Members of "Allied Computers International (Asia) Limited",
The Directors have pleasure in presenting their Annual Report together
with the Accounts of the Company for the year ended 31st March 2013.
FINANCIAL RESULT:
During the year ended on 31-03-2013, the operation of the Company has
resulted in a Profit of Rs.l 3,59,363/-
FLXED DEPOSIT:
The Company has not accepted any deposits from public under section 58A
of the Companies Act, 1956.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the sub-section (2AA) of section 217 of the Companies Act,
1956, the Board of Directors of the Company hereby state and confirm
that:-
1. That in the preparation of the Annual Accounts the applicable
accounting standards had been followed.
2. That the directors had selected such accounting policies and
applied them consistently and made Judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company for that period.
3. That the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safe guarding the assets of the Company and
for preventing and detecting fraud and other irregularities.
4. That the directors had prepared the Annual accounts on a going
concern basis.
PARTICULARS OF THE EMPLOYEES.-
The Company did not have any employees whose particulars are required
to be furnished pursuant to section 217 (2A) of the Companies Act, 1956
and the rules made there under.
DISCLOSURE OF PART1CULARS:-
As required U/s.217 (2)(E) of the Companies Act, 1956 read with Rule 3
of the Companies (Disclosure of particulars in the report of the Board
of Directors) Rules 1986, our company is not covered by the schedule of
Industries which are required to furnish the information in Form A.
The Company has not imported any technology nor carried any business of
export input and hence technology absorption inflow-out-flow of foreign
exchange earning do not arise.
AUDITORS :
M/s. Rajeev Sood & Co., Chartered Accountants, Auditors of the Company
retire at the ensuring Annual General Meeting and being eligible offer
themselves for re-appointment.
You are requested to appoint auditors for the year ended 31-03-2013 and
fix their remuneration.
ACKNO WLEDGEM ENT:
Your Directors express their gratitude to die shareholders of the
Company for their valuable support and for the confidence reposed in
uie management.
For and on behalf of the Board of
Allied Computers International (Asia)
Ltd.
Foi Allied Compote*i (Alia) Ltl
Director
(Hirji Patel)
DIRECTOR
Mumbai; 3r September, 2013
Mar 31, 2012
The Director have pleasure in presenting their Annual Report together
with the Accounts of the Company for the year ended 31st March 2012.
FINANCIAL RESULTS
During the year ended on 31.03.2012 the operation of the Company has
resulted in resulted in a profit of Rs. 12,43,032.
FIXED DEPOSIT
The company has not accepted any deposits from public under section 58A
of the companies Act, 1956.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the sub-section of section 217 of the companies Act 1956,
the board of Directors to the company hereby state and confirm that :-
1. That in the preparation of the Annual accounts the applicable
accounting standards had been followed.
2. That the directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the company for that period.
3. That the directors had taken proper and sufficient care for the
maintain of adequate accounting records in accordance with the
provisions of this Act for safe guarding the assets of the company and
for preventing and detecting fraud and other irregulatories.
4. That the directors had prepared the Annual accounts on a going
concern basis.
PARTICULARS OF THE EMPLOYEES
The company did not employees whose particulars are required to be
furnished pursuant to section 217 (2A) of the companies Act, 1956. and
the rules made there under.
DISCLOSURE OF PARTICULARS
As required U/S 217 (2) (E) of the companies Act, 1956 read with rules
3 of the companies (Disclosure of particulars in the report of the
Board of Directors) rules 1986, Our company is not covered by the
schedule of Industries which are required to pursuant the information
in Form A.
The Company has not important any technology not carried any business
of expert input and hence technology absorption inflow out flow of
foreign exchange earnings do not arise.
AUDITORS
M/s. Maheswari & co Charted Accountant, Auditors of the company retail
at the ensuring Annual General Meeting and being eligible offer
themselves for re-appointment. You are requested to appoint auditors
for the year ended 31-03-2012 and fix their remuneration.
ACKNOWLEDGEMENT
Your Directors express their gratitude to the shareholders of the
company for their valuable support and for the confidence reposed in
the management.
For and on behalf of the Board of
Allied Computers International (Asia) Ltd.
(Hirji Patel)
Mumbai. 29th September, 2012 DIRECTOR
Mar 31, 2011
The Director have pleasure in presenting their Annual Report together
with the Accounts of the Company for the year ended 31st March 2011.
FINANCIAL RESULTS
During the year ended on 31.03.2011 the operation of the Company has
resulted in resulted in a profit of Rs. 22,07,400/-.
FIXED DEPOSIT
The company has not accepted any deposits from public under section 58A
of the companies Act, 1956.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the sub-section (2AA) of section 217 of the companies Act
1956, the board of Directors to the company hereby state and confirm
that :-
1. That in the preparation of the Annual accounts the applicable
accounting standards had been followed.
2. That the directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the company for that period.
3. That the directors had taken proper and sufficient care for the
maintain of adequate accounting records in accordance with the
provisions of this Act for safe guarding the assets of the company and
for preventing and detecting fraud and other irr-regulatories.
4. That the directors had prepared the Annual accounts on a going
concern basis.
PARTICULARS OF THE EMPLOYEES
The company did not employees whose particulars are required to be
furnished pursuant to section 217 (2A) of the companies Act, 1956. and
the rules made there under.
DISCLOSURE OF PARTICULARS
As required U/S 217 (2) (E) of the companies Act, 1956 read with rules
3 of the companies (Disclosure of particulars in the report of the
Board of Directors) rules 1986, Our company is not covered by the
schedule of Industries which are required to pursuant the information
in Form A.
The Company has not important any technology not carried any business
of expert input and hence technology absorption inflow out flow of
foreign exchange earnings do not arise.
AUDITORS
M/s. Maheswari & co Charted Accountant, Auditors of the company retail
at the ensuring Annual General Meeting and being eligible offer
themselves for re-appointment. You are requested to appoint auditors
for the year ended 31-03-2011 and fix their remuneration.
ACKNOWLEDGEMENT
Your Directors express their gratitude to the shareholders of the
company for their valuable support and for the confidence reposed in
the management.
For and on behalf of the Board of
Allied Computers International (Asia) Ltd.
(Hirji Patel)
Mumbai. 04th September, 2011 DIRECTOR
Mar 31, 2010
To the Members,
The Directors present the Eighth Annual Report of the Company together
with the Audited Statement of Accounts for the financial year ended
31st March, 2010.
FINANCIAL RESULTS:
The financial results of the Company for the year under review as
compared to the previous year are summarized below for your
consideration:
Year ended
31.3.2010 Year ended
31.3.2009
Amount
(Rs. in Lakhs) Amount
(Rs. in Lakhs)
Sales & Other Income 1103.55 696.34
Profit before tax and appropriations 14.73 2.39
Profit (After Tax) 10.93 1.58
Add: Balance brought forward from 75.18 73.59
previous year
Profit available for disposal 86.11 75.18
Proposed Dividend 0 0
Transfer to General Reserve 0 0
Profit carried forward 86.11 75.18
Operations:-
The Company in its current Financial Year 2009-2010 has achieved a
strong and desirable growth as compared to the previous year 2008-2009.
Such growth is reflected from the increase in revenue earned by the
Company which stands at Rs. 1103.55 lakhs as compared to Rs.696.34 in
the previous year .Your Board seeks to consistently perform better in
ensuing years.
Dividend:
In view of the expansion-cum-diversification programmes undertaken by
the Company, your Directors have decided to conserve the reserves for
meeting the capital expenditure for the said programmes. No dividend
has therefore been recommended for the year under review.
Directors :
As per the provisions of Companies Act, 1956, Mr. Govind Kara, Director
of the Company retires by rotation and being eligible, offers himself
for re-appointment.
During the Year Mr.Gajendra Singh and Mr. Nilesh Mestry were appointed
as an Additional Directors of the Company w.e.f. 30th January, 2010 and
31st May, 2010 respectively. Necessary Resolution is given in the
Notice for regularizing their appointment.
Fixed Deposits:
The Company did not accept or renew any deposits within the meaning of
Section 58A of the Companies Act, 1956 and the Rules framed thereunder.
Particular of Employees:
Pursuant to the provisions of Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees), Rules, 1975,
none of the employees of the Company is drawing salary or commission
which exceeds the limit set out in the above Section. The Board is,
therefore, not required to furnish any information in this regard.
Corporate Governance & Management Discussion & A nalysis Report
Your Company endeavors to maximize the wealth of the shareholders by
managing the affairs of the Company with a pre-eminent level of
accountability, transparency and integrity. A report on Corporate
Governance including the relevant Auditor''s Certificate regarding
compliance with the conditions of Corporate Governance as stipulated in
Clause 49 of the listing agreement with the Stock Exchange is annexed
Management Discussion and Analysis Report is also annexed.
Code of Conduct:
Code of Conduct for the Directors and the Employees of the Company has
been laid down by the Board and it is internally circulated and
necessary declaration has been obtained.
Listing:
The Company''s Securities continue to be listed on the Bombay Stock
Exchange Limited; Mumbai the Company has paid the requisite Annual
Listing Fees for the year 2009-10, to the above Exchange.
Research and Development:
The R&D department of the company has been arduously working to provide
quality value for money to provide quality value for money to the
customers in keeping with market funds.
Corporate Susta in ability:
Health, safety and concern for the environment are the focus areas of
Company''s Corporate Sustainability (CS) activities. The programs
undertaken by company focus on environment sustainability as well as
economic empowerment through Information Technology and Health
awareness.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Directors
confirm that:
1. In the preparation of the annual accounts, the applicable
accounting standards have been followed.
2. Appropriate policies have been selected and applied consistently
and judgments and estimates wherever made are reasonable and prudent so
as to give a true and fair view of the state of affairs of the Company
as at March 31, 2010
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
4. The Directors have prepared the accounts for the period ended on
31st March, 2010 on a going concern basis
AUDITORS:
In terms of provisions of Section 224 of the Companies Act, 1956, M/s.
Mahendra Tiwari & Co. retires at the Annual General Meeting and being
eligible, offer themselves for re-appointment. They have submitted a
certificate pursuant to the provisions of Section 224(1B) of the
Companies Act, 1956, that if their re-appointment be made for another
term will be within the prescribed limits. Your Directors recommend
their appointment.
Acknowledgements :
Your Directors wish to thank and place on record their appreciation of
the valuable support given by Company''s Customers, Shareholders,
Distributors and Bankers the Directors would also like to thank the
Employees for their contribution for their contribution to the Company.
Registered Office: For and on Behalf of the Board
501/503, Morya Estate, Director
New Link Road,
Andheri-West, Allied Computers International (Asia) Limited
Mumbai-400053
Date: 23rd August, 2010
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