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Directors Report of Amani Trading & Exports Ltd.

Mar 31, 2014

The Members,

The Directors have pleasure in presenting the 30th Annual Report together with the Audited Annual Accounts forthe Financial Year ended on 31st March, 2014.

FINANCIAL RESULTS:-

Your company''s performance during financial year 2013-2014 is summarized below:-

Particulars 2015 2014 2012-2013 (Rupees)- (Rupees)

Profit before Depreciation & Tax 7.81.284 7,51,715

Less: Depreciation

Profit before Tax 7.81.284 7.51.715

Less: Provision for Taxation

(a) Current Tax 2.24.000 2,21,000

(b) Deferred Tax Liability (credit) - 809

Profit after Tax 5.39.284 5,29,906

Add: Balance brought forward from previous year 63.39.558 58.09.652

Balance carried to Balance Sheet 68.78.842 63,39,558

DIVIDEND:-

In view of requirement of surplus funds for future business activities, your Directors do. not recommend any Dividend on Equity Shares for the year ended on 31st March, 2014.

OPERATIONS:-

During the year under review your company has continued its activity of trading in cotton fabrics. Inspite of severe competition and pressure on margin, the Company was able to post a higher turnover of Rs.300.45 Lacs as compared to Rs.295.05 Lacs in previous year. The company posted net profit of Rs.5.39 Lacs in the current

year as compared to Rs.5.30 Lacs in previous year. Your directors are putting in their best efforts to improve the performance of the Company in the coming years.

LISTING AGREEMENT:-

The Equity Shares of the Company are listed on stock exchanges at Ahmedabad and Mumbai. The Company has already paid listing fees to both the exchanges.

DIRECTORS:-

Shri Anish A. Shah has been appointed as a Managing Director of the Company with effect from 01.06.2014 for a period of three (03) years without any remuneration.

In compliance with the provisions of Section 149 read with Schedule IV of the Companies Act, 2013, the appointment of Mr. Keyur J. Parikh and Mr. Mayur J. Parikh has Independent Directors is being placed for approval of the Members at the . ensuing Annual General Meeting.

DIRECTORS'' RESPONSIBILITY STATEMENT:-

Pursuant to Section 217 (2AA) of the Companies Act, 1956, on the basis of. the information placed before them, the Directors confirm that:

i) in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanations relating to material departures, if any;

ii) appropriate accounting policies have been selected and applied consistently, and the judgments and estimates that have been made are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2014 and of the profit of the Company for the said year;

a) proper and sufficient care has been taken for the maintenance of adequate

accounting records in accordance with the provisions of Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud arid other irregularities; ,

b) the Annual Accounts have been prepared on a going concern basis.

AUDITORS:-

Dhirubhai Shah & Doshi, Chartered Accountants, (earlier known as Dhirubhai Shah & Co,) Ahmedabad. (Firm Registration No. 102511W) retires at the ensuing Annual General Meeting and being eligible for re-appointment have indicated their willingness to act as such. You are requested to reappoint them as Statutory „ Auditors to hold the office till the conclusion of next Annual General Meeting and fix their remuneration. .

SECRETARIAL AUDIT:-

The Secretarial Compliance Report pursuant to Section 383A of the Companies Act, 1956, forming part of this annual report is attached herewith.

AUDIT COMMITTEE:-

With effect from 01.04.2014 under Section 177 of the Companies Act, 2013, every listed company is required to form an Audit Committee consisting minimum of 03 Directors with Independent Directors forming majority. To comply with the same, the Board of Directors at their meeting held on 29th May, 2014 has constituted an Audit Committee comprising of three Directors viz; Mr. Keyur Parjkh, Mr. Mayur Parikh and Mr. Anish Shah. Mr. Keyur Parikh is the Chairman of Audit Committee.

PARTICULARS REGARDING EMPLOYEES:-

The Company does not have any employee covered under the provision of Section 217 (2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975. .

INFORMATION REGARDING CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:-

Your Company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, .1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has " neither earned nor made any payment in foreign exchange. .

DEPOSITS:-

During the year under review, the Company has not accepted any deposits from the public.,

ACKNOWLEDGMENTS:-

Your Directors would like to thank its employees for rendering diligent services to the Company.

Your Directors would take this opportunity to express their gratitude to the customers, vendors, investors and Banks for their continued support. Your Directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

Regd. Office: 32, Milpnpark Society, For and on Behalf of the Board Nr. Jawahar Chowk, Maninagar, Ahmedabad - 380 008 E Mail - amaniexports@vahoo.co.in Ph.:-079-25462907 Director

Date:29.05.2014 Place: Ahmedabad


Mar 31, 2013

The directors have pleasure in presenting, the twenty ninth annual report together with audited annual accounts for the financial year ended on 31st March, 2013.

FINANCIAL RESULTS

Your company''s performance during financial year 2012-2013 is summarised below:

2012-2013 2012-2011 Rs. Rs.

Profit before depreciation and tax 7,51,715 6,18,552

Less: Depreciation Nil Nil

Profit before tax 7,51,715 6,18,552

Less/Add : Provision for taxation

(a) Current tax 2,21,000 1,95,000

(b) Deferred tax liability (credit) 809 (1,612)

Profit after tax 5,29,906 4,25,164

Add: Balance brought forward from previous 58,09,652 53,84,488 year

Balance carried to Balance Sheet 63,39,558 58,09,652



DIVIDEND

In order to utilize the surplus for future business needs of the company, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2013.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. The sales turnover of the company declined to Rs.295.04 lacs as compared to Rs.301.27 lacs in previous year, due to tough competition amongst textile players. The company posted net profit of Rs.5.30 lacs as compared to Rs.4.25 lacs in previous year. Your directors are putting in their best efforts to continue the improve the performance of the company in the coming year.

LISTING AGREEMENT

The equity shares of the company are fisted on stock exchanges at Ahmedabad and Mumbai. The company has paid listing fees to both the stock exchanges.

DIRECTORS

At the ensuing annual general meeting Mr. Anish A. Shah, Director is to retire by rotation and being eligible offers himself for re-appointment.

DIRECTOR''S RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 and on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, and the judgments and estimates that have been 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, 2013 and of the profit of the company for the said year;

(iii) 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;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re-appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

SECRETARIAL AUDIT

The secretarial compliance report pursuant to section 383A of the Companies Act, 1956, forms part of this annual report and is attached herewith.

INFORMATION REGARDING CONSERVATION OF ENERGY. TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

PARTICULARS REGARDING EMPLOYEES

The company does not have any employee covered under the provisions of section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

DEPOSITS

During the year under review, the company has not accepted any deposit from the public.

ACKNOWLEDGEMENTS

Your directors would like to thank ail its employees for rendering diligent services to the company.

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.



PLACE : AHMEDABAD FOR AND ON BEHALF OF THE BOARD



DATE: 30/05/2013 CHAIRMAN


Mar 31, 2010

The directors have pleasure in presenting the twenty sixth annual report together with audited annual accounts for the financial year ended on 31st March, 2010.

FINANCIAL RESULTS

Your companys performance during financial year 2009-2010 is summarised below:

31/03/2010 31/03/2009 Rs. Rs.

Sales and other income 4,43,94,392 4,24,68,441

Profit before depreciation and tax 6,01,102 6,85,824

Less : Depreciation 2,627 96S

Profit before tax 5,98,475 6,84,859

Less: Provision for taxation 1,90,000 2,15,000

Provision for tax on fringe benefit tax - 470

Add: Excess provision of Income tax written 1,02,903 - back

Deferred tax - (298)

Profit after tax 5,11,378 4,69,687

Add : Balance brought forward from previous 44,45,108 39,75,421 year

Balance carried to Balance Sheet 49,56,486 44,45,108

DIVIDEND

In order to conserve the resources of the company for future business requirements, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2010.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. The company posted net profit of Rs.5.11 lacs as compared to net profit of Rs.4.69 lacs of previous year. Your directors are putting in their best efforts to further improve the performance of the company in the coming year.

AUDITORS REPORT

The observations in the auditors report are dealt with in notes forming part of accounts at the appropriate places and are self-explanatory.

LISTING AGREEMENT

The equity shares of the company are listed on stock exchanges at Ahmedabad and Mumbai. The company has paid listing fees to both the stock exchanges.

DIRECTORS

At the ensuing annual general meeting Mr. Keyur 3. Parikh, Director is to retire by rotation and being eligible offers himself for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 and on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, and the judgements and estimates that have been 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 and of the profit of the company for the said year;

(Hi) 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 end for preventing and detecting fraud and other irregularities;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

The statutory auditors Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re- appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

SECRETARIAL AUDIT

The secretarial compliance report pursuant to section 383A of the Companies Act, 1956, forms part of this annual report and is attached herewith.

INFORMATION REGARDING CONSERVATION oF ENERGY. TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

PARTICULARS REGARDING EMPLOYEES

The company does not have any employee covered under the provisions of section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

DEPOSITS

During the year under review, the company has not accepted any deposit from the public. _

APPRECIATION

Your directors would like to thank all its employees for rendering diligent services to the company. The deep sense of belonging and hard work of the employees has enabled the company to face up to the challenges in the competitive environment.

ACKNOWLEDGEMENTS

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

PLACE : AHMEDABAD FOR AND ON BEHALF OF THE BOARD

DATE: 31/05/2010 CHAIRMAN


Mar 31, 2009

The directors have pleasure in presenting the twenty fifth annual report together with audited annual accounts for the financial year ended on 31st March, 2009.

FINANCIAL RESULTS

Your companys performance during financial year 2008-2009 is summarised below:

31/03/2009 31/03/2008 Rs. Rs.

Sales and other income 4,24,68,442 4,17,23,140

Profit before depreciation and tax 6,85,889 6,48,930

Less : Depreciation 965 1,152

Profit before tax 6,84,924 6,47,778

Add/Less: Provision for taxation 2,15,000 1,92,000

Provision for tax on fringe benefit tax 470 475 Deferred tax (298) (548)

Profit aftertax 4,69,752 4755,851

Add : Balance brought forward from previous 39,75,421 35,19,570 year

Balance carried to Balance Sheet 44,45,173 39,75,421

DIVIDEND

In order to conserve the resources of the company for future business activities envisaged by the company, your directors do not recommend any dividend on equity shares for the year ended on 31st March, 2009.

OPERATIONS

During the year, under review, your company has continued its activity of trading in cotton fabrics. The company posted marginal net profit of Rs.4.69 lacs as compared to net profit of Rs.4.55 lacs of previous year. Your directors are putting in their best efforts to improve the performance of the company in the coming year.

AUDITORS REPORT

The observations in the auditors report are dealt with in notes forming part of accounts at the appropriate places and are self-explanatory.

LISTING AGREEMENT

The equity shares of the company are listed on stock exchanges at Ahmedabad and Mumbai. The company has paid listing fees to both the stock exchanges.

DIRECTORS

At the ensuing annual general meeting Mr. Anish A. Shah, Director is to retire by rotation and being eligible offers himself for re-appointment.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 and on the basis of information placed before them the directors confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; if any;

(ii) appropriate accounting policies have been selected and applied consistently, ami the judgements and estimates that have been 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, 2009 and of the profit of the company for the said year;

(iii) 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;

(iv) the annual accounts have been prepared on a going concern basis.

AUDITORS

The retiring statutory auditors Dhirubhai Shah & Company, Chartered Accountants, Ahmedabad, retire at the ensuing annual general meeting and being eligible for re- appointment, have indicated their willingness to act as such. You are requested to appoint them as statutory auditors to hold office till the conclusion of next annual general meeting and fix their remuneration.

SECRETARIAL AUDIT

The secretaial compliance report pursuant to section 383A of the Companies Act, 1956, forms part of this annual report and is attached herewith.

INFORMATION REGARDING CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE

Your company is not engaged in any manufacturing activity and as such has no particulars to disclose under the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, as regards conservation of energy and technology absorption. Further, during the year under review, your company has neither earned nor made any payment in foreign exchange.

PARTICULARS REGARDING EMPLOYEES

The company does not have any employee covered under the provisions of section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

DEPOSITS

During the year under review, the company has not accepted any deposit from the public.

APPRECIATION

Your directors would like to thank all its employees for rendering diligent services to the company. The deep sense of belonging and hard work of the employees has enabled the company to face up to the challenges in the competitive environment.

ACKNOWLEDGEMENTS

Your directors would take this opportunity to express their gratitude to the customers, vendors, investors and banks for their continued support. Your directors would also like to thank statutory authorities for their support and look forward to their continued support and guidance in future.

PLACE : AHMEDABAD FOR AND ON BEHALF OF THE BOARD

DATE: 30/06/2009 CHAIRMAN

 
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