Mar 31, 2016
DIRECTORS'' REPORT Dear Members,
The Directors have pleasure in presenting their 22nd Annual Report of your Company together with Annual Audited Financial Statements and Auditors'' Report for the year ended 31st March, 2016.
FINANCIAL PERFORMANCE OF THE COMPANY (STANDALONE)
During the year under review, performance of the company as under:
(Rs.in Lacs)
PARTICULARS |
Year Ended 31st March, 2016 |
Year Ended 31st March, 2015 |
Total Income |
821.03 |
416.61 |
Total Expenditure |
758.11 |
515.08 |
Profit/(Loss) before Depreciation & Tax |
131.39 |
(147.72) |
Depreciation |
68.43 |
49.25 |
Tax |
0.00 |
00 |
Net Profit/(Loss) for the year after Depreciation & Tax |
62.63 |
(98.47) |
Add: balance B/F from the previous year |
0.00 |
0.00 |
Balance Profit/loss C/F to the next year |
0.00 |
0.00 |
STATE OF AFFAIRS OF THE COMPANY
Your Company has made net profit of Rs.62.93 Lacs as on 31st March, 2016 as compared to the net loss Rs. 98.47 Lacs during the previous year. Directors are making sincere efforts to increase the profit of the Company.
During the year the Company has processed a total of 1106735KG Peas in Pea Season as compared to previous year a total of 552650 making sincere effort to capitalize it. During the year no constructional activity has undertaken by the company.
EXTRACT OF ANNUAL RETURN
The details forming part of the extract of the Annual Return in MGT-9 is annexed herewith as ANNEXURE-I and forming part of this report.
NUMBER OF BOARD MEETINGS
During the year under review 6 (Six) Board Meeting were held the details of which are given in Corporate Governance Report. The intervening gap between any two meetings was within the period prescribed by the Companies Act, 2013
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 134 (5) of the Companies Act, 2013 the Board of Directors, to the best of knowledge and ability, confirms that:
1. in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;
2. 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 at the end of the financial year ending on March 31, 2016 and profit and loss of the company for that period;
3. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
4. the Directors had prepared the annual accounts on a going concern basis;
5. the Directors had laid down internal financial controls for the company which are adequate and are operating effectively;
6. the Directors had devised proper system to ensure compliance with the provisions of all applicable laws and such systems were adequate and operating effectively.
RESERVES
The Board of Directors of the Company has decided not to propose any amount to carry any reserves in the Balance Sheet
DIVIDEND
The Board of Directors has decided not to recommend any amount of dividend with a view to conserve resources.
DEPOSITS
The company has not invited any deposits from public during the year under review.
SIGNIFICANT AND MATERIAL ORDER
There are no significant and material order passed by regulators or courts or tribunals impacting the going concern status and company''s operations in future
MATERIAL CHANGES AND COMMITMENTS
There was no material change and commitment affecting the financial position of the company in the financial year ended 31st March, 2016 to which the financial statement relates and the date of the report
SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANY
No Company has become or ceased to be its subsidiary, joint ventures or associate Company during the year 2015-16.
LISTING OF SECUTIRIES OF THE COMPANY
The Shares of the Company is listed with Bombay Stock Exchange and Delhi stock Exchange but the SEBI had withdrawn the recognition of Delhi Stock Exchange on November, 19, 2014 and so the company is not complying with the listing requirement of Delhi Stock Exchange and has not paid the Annual Listing fee of Delhi Stock Exchange for the Year 2016
17.
Further Annual Listing fee of Bombay stock exchange has been paid for the year 2016-17.
CHANGE IN THE NATURE OF BUSINESS
There is no change in the nature of Business of the Company.
CORPORATE SOCIAL RESPONSIBILITY
Provisions relating to Corporate Social Responsibility under Section 135 is not applicable to the company.
FINANCIAL INFORMATION OF SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANY
The company has no subsidiary, joint ventures or associate Company so this disclosure is not applicable.
REPORT ON CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING & OUTGO
In accordance with the requirement of 134 (3) (m) of the Companies Act ,2013 read with Rule 8(3) of the Companies (Accounts) Rules,2014, your directors furnish hereunder the additional information as required:
A. CONSERVATION OF ENERGY
Company is making efforts to reduce its dependence on State Electricity power supply. It uses Rice Husk for the boiler to eliminate use of Fuel Oil. Measures include to replace compact florescent light with low power LED
B. TECHNOLOGY ABSORPTION
The Company is making efforts to absorb latest technology in the plant. Your Company has not undertaken any research & development activity.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year there is no earning and outgo of foreign exchange.
AUDIT COMMITTEE AND STAKEHOLDERS RELATIONSHIP COMMITTEE
The Details of the all these Committees are given in Report on Corporate Governance as annexed as ANNEXURE-VI and forming part of this Report.
CHANGE IN SHARE CAPITAL
There is no change in the share capital of the company during the year under review.
PARTICULARS OF LOANS, GURANTEES OR INVESTMENTS
The particulars of Loans, guarantees & investments under section 186 of the Companies Act, 2013 have been disclosed in the Balance Sheet.
APPOITMENT, REAPPOITMENT OF DIRECTORS & KMP
During the year under review there is no change the Composition of Directorship of the Company.
As on 31st March, 2016 your company has 6 (Six) Directors. Mr. Ramesh Chandra Sharma, (DIN-00148867) who retires by rotation at the ensuing Annual General Meeting and, being eligible, offers himself for re-appointment. As per Regulation 36(3) of the SEBI (Listing Obligations & Disclosures Requirement) Regulations, 2015 the particulars of reappointments of Mr. Ramesh Chandra Sharma Directors are given in Annexure in the notice of Annual General Meeting.
Mr.Mehinder Sharma, Managing Director & CEO. Mr. Subodh Kumar, CFO and Mr.Manoj Mishra are the KMP as per the provisions of Companies Act, 2013.
FORMAL EVALUATION OF BOARD
Evaluation of all Board members is done annually .The evaluation is done by board, Nomination and Remuneration committee and Independent Directors with specific focus on performance and effective functioning of board and individual directors. Criteria for evaluation of board as a whole includes frequency, length, transparency, flow of information, administration and disclosure of board meetings held. Individual directors can be evaluated on the basis of their ability to contribute good governance practices, to address top management issues, long term strategic planning, individually time spent, attendance & membership in other committees, core competencies and obligation fiduciary responsibilities, etc.
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received necessary declaration from each Independent Director under section 149 (7) of the companies Act, 2013, that he/she meets the criteria of independence as laid down in Section 149(6) of the Companies Act, 2013 and Regulation 16 of the SEBI (Listing obligations & Disclosures Requirements) Regulations, 2015. During the year one meeting of Independent Directors was held as Schedule IV of the Companies Act, 2013 under the chairmanship of Independent Director. As required under Schedule IV of the Companies Act, 2013 and Regulation 25(7) of the SEBI (Listing obligations & Disclosures Requirements) Regulations, 2015 the company regularly familiarize it''s Independent Director with their role, rights, responsibilities, etc
PARTICULARS OF DISCLOSURE OF REMUNARATION OF DIRECTOR AND EMPLOYEE
As required under Section 197(12) of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rule, 2014, the ratio of remuneration of each director to the median employee''s remuneration and other details are annexed as ANNEXURE-III and forming part of this Report.
Your company is not paying any remuneration to its Managing Director or other Director for attending Board Meeting and Committee thereof. The details of Remuneration given to CFO and Company Secretary is mentioned in MGT-9 as
ANNEXURE-I.
There is no employee drawing remuneration of Rs.60 Lacs or more in a financial year or drawing a remuneration of Rs.5.00 lacs per month under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rule, 2014.
NOMINATION AND REMUNARATION POLICY
As required under Regulation 19 of SEBI (Listing Obligations and Disclosures Requirement)Regulations,2015 read with Section 134(3)(e) of the Companies Act,2013,the company has a policy on Directors Appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub section 3 of Section 178 of the companies Act,2013 is annexed herewith ANNEXURE-II and forming part of this Report.
PARTICULARS OF CONTRACTS AND ARRANGEMENTS
All the related party transactions (if any) are entered on arm''s length basis and in the ordinary course of business. All the transactions are in compliance with the applicable provisions of the relevant act and SEBI (Listing Obligation and disclosures Requirements) Regulations, 2015 .There was no related party transactions which may have potential conflict with the interest of the company. During the year Company has not entered into any Related Party Transaction.
DISCLOSURE OF ACCOUNTING TREATMENT
While in the preparation of financial statement the applicable Accounting Standards, issued by the Institute of Chartered Accountants of India (ICAI) have been followed.
RISK MANAGEMENT POLICY
Although it is not mandatory, but the company has developed and adopted a risk management policy as a measure of good governance The Details of its Committee are given the Corporate Governance Report .The Policy identifies all perceived risks which might impact the operations of the company. The company is taking appropriate measure to achieve proper balance between risks and rewards.
VIGIL MECHANISM/WHISTLE BLOWER POLICY
As required under Regulation 22 of SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015 read with Section 177(9) of the Companies Act, 2013 & Rules made there under ,the company has established a Vigil Mechanism for their Directors and Employees to report their genuine concerns or /grievances.
The mechanism also provides for adequate safeguard against victimization of Employees and directs persons who avail of the mechanism and make provisions for direct access to the Managing Director.
MANAGEMNT DISCUSSION AND RISK ANLYSIS REPORT
The Management Discussion and analysis as required under Regulation 34(2) of SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015 is annexed as ANNEXURE-IV
SEXUAL HARASSMENT OF WOMEN ON WORKPLACE
The company has zero tolerance for sexual harassment of women at its workplace in view of provisions of Sexual Harassment of Women at work place (Prevention. prohibition and Redressal) Act,2013 and rules made there under , during the year no complaint has been received on sexual harassment at work place.
INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY
The Company has an internal control system, commensurate with the size, scale and complexity of its operation, the scope and authority of the internal audit function is well defined in the organization.
To maintain its objectivity and independence, Internal Audit function is laid before the Audit committee of the Board.
Based on the report of the Internal Audit & Audit Committee observation, corrective actions are undertaken by the respective department and thereby strengthen the controls.
STATUTORY AUDITOR
The Statutory Auditors of the Company M/s.Gaur V.K. & Company, Chartered Accountants, New Delhi, retire at the ensuing Annual General Meeting in accordance with the provisions of Section 139 of Companies Act, 2013 and Rules made there under, and being eligible, offer themselves for re-appointment as statutory auditors of the Company from the conclusion of ensuing AGM until the conclusion of next AGM
The Company has obtained the written consent for their appointment from the Statutory auditor and a certificate to the effect of their appointment, if made, shall be in accordance with the provision of the Companies Act,2013 and rule made there under and certificate to the effect that auditor satisfies the criteria provided under Section 141 of the Companies Act,2013
SECRETERIAL AUDITOR
Pursuant to the provisions of the Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rule 2014, the company has appointed M/s.S.K.Balecha & Co.(Practicing Company Secretary) bearing CP No.11159 to undertake the Secretarial Audit of the Company for the financial year 2014-15 and onward. Report on Secretarial Audit in Form MR-3 is annexed as ANNEXURE-V and forming part of this report.
QUALIFICATION, RESERVATION AND ADVERSE REMARK
Auditors'' Report on Annual Accounts & Secretarial Audit Report of the company are self explanatory and do not contain any reservation, qualification & adverse remark or disclaimer made by Statutory Auditor and Secretarial Auditor so no comment or explanation is required by Board
INTERNAL AUDITOR
Pursuant to the provisions of the Section 138 of the Companies Act, 2013 read with the Companies (Accounts) Rule 2014, the company has appointed M/s.Rajesh Umashankar & Co (Chartered Accountants) as Internal Auditor of the Company
INDUSTRIAL RELATIONS
During the period the relations with all employees of the company were cordial and congenial atmosphere prevailed .your directors appreciate the devoted services rendered by the employees of the Company.
REPORT ON CORPORATE GOVERNANCE
In term of requirements of Regulation 34(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, a separate Report on Corporate Governance together with Auditors'' Certificate regarding compliances of the conditions of Corporate Governance are annexed as ANNEXURE VI and forming part of this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the constant and enthusiastic support of the Company''s Customers, Shareholders, Suppliers, Bankers and the State & Central Governments without which the Company would not have been able to accomplish whatever it has actually attained.
Your Directors also take this opportunity to express their appreciation of the earnest efforts put in by the employees at all levels in achieving the corporate objectives.
By order of the Board of Directors
ANS Industries Limited
Sd/- Sd/-
(Mehinder Sharma) (S.R. Sahore)
Place : New Delhi Managing Director Director
Date : 10th August, 2016 DIN: 00036252 DIN: 00036146
Mar 31, 2014
Dear Shareholders,
The Directors are pleased to present the 20th Annual Report together
with Audited Annual Accounts for the financial year ended 31st March,
2014.
FINANCIAL RESULTS
(Rs. in Lacs)
PARTICULARS CURRENT YEAR PREVIOUS YEAR
(2013-14) (2012-13)
Contract Receipts, Sales and other
Income 604.22 419.45
Profit/(Loss) before Interest,
Depreciation & Tax 131.29 106.91
Depreciation 62.86 52.23
Provision for taxation 0.00 0.00
Net Profit/(Loss) for the year 68.43 54.68
Debit Balance in P&L A/C brought
forward from previous year 0.00 0.00
Debit Balance carried forward to
Balance Sheet 0.00 0.00
STATE OF AFFAIRS OF THE COMPANY
Your Company has made net profit of Rs. 68.43 Lacs as on 31st March,
2014 as compared to the net profit Rs. 54.68 Lacs during the previous
year. Directors are making sincere efforts to increase the profit of
the Company.
During the year the Company has processed a total of 898485 KG of Peas
in Pea Season.
RESERVES
The Board of Directors of the Company has decided not to propose any
amount to carry any reserves in the Balance Sheet. DIVIDEND
The Board of Directors has decided not to recommend any amount of
dividend with a view to conserve resources.
DISCLOSURE UNDER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956 READ
WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
A. CONSERVATION OF ENERGY
The Company is making efforts to reduce its dependence on State
Electricity power supply. It using Rice Husk for the boiler to
eliminate use of Fuel Oil.
B. TECHNOLOGY ABSORPTION
The Company is making efforts for absorption of sophisticated
technology.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year the company has imported spare part of Plant &
Machinery from HOS BV, NEATHERLANDS and the payment for the same has
been made in Euro currency £1181 equivalent to Indian Currency of Rs.
91,914/-except that there are no earning and outgo of foreign exchange
as already given in notes on Accounts.
PARTICULARS OF EMPLOYEES
Nobody is employed in the Company during the year or for part of the
year who is in receipt of remuneration exceeding the sum prescribed
under the provisions of Section 217(2A) of the Companies Act, 1956 read
with Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm and state:
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
2. that the directors had selected such accounting policies and applied
them consistently and made judgments and es- timates 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 ending on
March 31,2014 and profit and loss of the company for that period;
3. that the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accor- dance with the
provisions of this Act for safeguarding 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.
AUDITORS& AUDITORS'' REPORT
The Statutory Auditors of the Company M/s.Gaur V.K. & Company,
Chartered Accountants, New Delhi, retire at the ensuing Annual General
Meeting in accordance with the provisions of Section 139 of Companies
Act, 2013 and Rules made thereunder, and being eligible, offer
themselves for re-appointment as statutory auditors of the Company from
the conclusion of ensuing AGM until the conclusion of next AGM
The Company has obtained the written consent for their appointment from
the statutory auditors and a certificate to the effect of their
appointment, if made, shall be in accordance with the provision of the
Companies Act,2013 and rule made thereunder and certificate to the
effect that auditor satisfies the criteria provided under Section 141
of the companies Act,2013
Auditors'' Report on Annual Accounts of the company are self explanatory
and do not contain any reservation, qualification & adverse remark in
Auditors'' Report.
DEPOSITS
The company has not invited any deposits from public DIRECTORS
Mr. R.C. Sharma, (holding DIN-00148867) who retires by rotation at the
ensuing Annual General Meeting and, being eligible, offers himself for
re-appointment.
The details of Director seeking re-appointment are as follows:-
Name of Director Mr. R.C. Sharma
DIN 00148867
Age 67 Years
Date of Appointment 22-03-2006
Expertise in Special Functional area Constructions
Qualification Intermediate
Directorship held in other Companies
as on 31-03-2014 Nil
Membership of Committees in other
Companies in which he is Director
as on 31-03-2014 Nil
No. of shares held in the Company
(including those held by relatives) 87300
The details of Mr. Mehinder Sharma (holding DIN-00036252) who has been
reappointed as Managing Director as follows.
Name of Director Mr. Mehinder Sharma
DIN 00036252
Age 55 Years
Date of Appointment 03-08-1994
Expertise in Special
Functional area Constructions
Qualification MBA
Directorship held in
other Public Companies
as on 31-03-2014 4
Membership of Committees
in other Companies in
which he is Director as
on 31-03-2014 1
No. of shares held in
the Company (including
those held by relatives) 4782390
CORPORATE GOVERNANCE
Auditors'' Certificate on compliances with the conditions of Corporate
Governance, a separate report on Corporate Governance and Management
Discussion and Analysis are enclosed as Annexure "A", "B"& "C"
respectively to this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the
constant and enthusiastic support of the Company''s Customers,
Shareholders, Suppliers, Bankers and the State & Central Governments
without which the Company would not have been able to accomplish
whatever it has actually attained. Your Directors also take this
opportunity to express their appreciation of the earnest efforts put in
by the employees at all levels in achieving the corporate objectives.
FOR & ON BEHALF OF THE BOARD
OF ANS INDUSTRIES LIMITED
Sd/- Sd/
Date: 4th August, 2014 (Mehinder Sharma) (S.R. Sahore)
Place: New Delhi Managing Director Director
(DIN: 00036252) (DIN:00036146)
Mar 31, 2013
The Directors are pleased to present the 19th Annual Report together
with Audited Annual Accounts for the fi nancial year ended 31st March,
2013.
FINANCIAL RESULTS:
(Rs. in Lacs)
PARTICULARS CURRENT YEAR PREVIOUS YEAR
(2012-13) (20011-12)
Contract Receipts, Sales and
other Income 419.45 352.47
Profi t/(Loss) before Interest,
Depreciation & Tax 106.91 30.26
Interest 0.00 0.00
Depreciation 52.23 49.28
Provision for taxation 0.00 0.00
Net Profi t/(Loss) for the year 54.68 (19.02)
Debit Balance in P&L A/C brought
forward from previous year 0.00 NIL
Debit Balance carried forward
to Balance Sheet 0.00 (19.02)
STATE OF AFFAIRS OF THE COMPANY
Your Company has made net profi t of Rs. 54.68 Lacs as on 31st March,
2013 as compared to the net loss of Rs. 19.02 Lacs during the previous
year. Directors are making sincere efforts to increase the profi t of
the Company.
During the year the Company has processed a total of 1315195 KG of Peas
in Pea Season.
Now your company has already been launched its own product of pea
having brand name as Maxxofresh in different quantity and sizes and
Trade Mark of said brand has already been registered in class 29 vide
certifi cate No.1094128
RESERVES
The Board of Directors of the Company has decided not to propose any
amount to carry any reserves in the Balance Sheet.
DIVIDEND
The Board of Directors has decided not to recommend any amount of
dividend with a view to conserve resources.
DISCLOSURE UNDER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956 READ
WITH THE COMPANIES (DISCLO- SURE OF PARTICULARS IN THE REPORT OF BOARD
OF DIRECTORS) RULES, 1988
A. CONSERVATION OF ENERGY
The Company is making efforts to reduce its dependence on State
Electricity power supply. It using Rice Husk for the boiler to
eliminate use of Fuel Oil.
B. TECHNOLOGY ABSORPTION
The Company is making efforts for absorption of sophisticated
technology.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year there are no earning and outgo of foreign exchange as
already given in notes on Accounts.
PARTICULARS OF EMPLOYEES
Nobody is employed in the Company during the year or for part of the
year who is in receipt of remuneration exceeding the sum prescribed
under the provisions of Section 217(2A) of the Companies Act, 1956 read
with Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confi rm and state:
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
2. that the directors had selected such accounting policies and
applied them consistently and made judgments and es- timates 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 fi nancial year ending on
March 31, 2013 and profi t and loss of the company for that period;
3. that the directors had taken proper and suffi cient care for the
maintenance of adequate accounting records in accor- dance with the
provisions of this Act for safeguarding 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.
AUDITORS& AUDITORS'' REPORT
The Statutory Auditors of the Company M/s. Gaur V.K. & Company,
Chartered Accountants, New Delhi, retire at the ensuing Annual General
Meeting in accordance with the provisions of Section 224 of Companies
Act, 1956 and being eligible, offer themselves for re-appointment and
confi rm that if their re-appointment is made, it shall be within the
limits of Section 224 (1) (B) of the Companies Act, 1956.
Auditors'' Report on Annual Accounts of the company are self explanatory
and do not contain any reservation, qualifi cation & adverse remark in
Auditors'' Report.
DEPOSITS
The company has not invited any deposits from public
DIRECTORS
Sh. S.R. Sahore, who retires by rotation at the ensuing Annual General
Meeting and, being eligible, offers himself for re- appointment.
The details of Director seeking re-appointment are as follows:
Name of Director Sh. S.R. Sahore
Age 76 Years
Date of Appointment 10-08-1994
Expertise in Special Functional area Engineering
Qualifi cation B.Tech(Hons.) IIT,Khadagpur
Directorship held in other Companies as on 31-03-2012 NIL
Membership of Committees in other Companies in which he is Director as
on 31-03-2012 NIL
No. of shares held in the Company (including those held by relatives)
18300
CORPORATE GOVERNANCE
Auditors'' Certifi cate on compliances with the conditions of Corporate
Governance, a separate report on Corporate Governance and Management
Discussion and Analysis are enclosed as Annexure "A", "B"& "C"
respectively to this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the
constant and enthusiastic support of the Company''s Customers,
Shareholders, Suppliers, Bankers and the State & Central Governments
without which the Company would not have been able to accomplish
whatever it has actually attained. Your Directors also take this
opportunity to express their appreciation of the earnest efforts put in
by the employees at all levels in achieving the corporate objectives.
FOR & ON BEHALF OF THE BOARD OF ANS
INDUSTRIES LIMITED
Sd/- Sd/-
Date: 27th August, 2013 (Mehinder Sharma) (S.R. Sahore)
Place: New Delhi Managing Director Director
Mar 31, 2012
The Directors are pleased to present the 18th Annual Report together
with Audited Annual Accounts for the financial year ended 31st March,
2012.
FINANCIAL RESULTS:
(Rs. in Lacs)
PARTICULARS CURRENT YEAR PREVIOUS YEAR
(2011-12) (20010-11)
Contract Receipts, Sales and other
Income 352.47 1129.34
Profit/(Loss) before Interest,
Depreciation & Tax 30.26 129.93
Interest 0.00 0.00
Depreciation 49.28 43.63
Provision for taxation 0.00 0.00
Net Profit/(Loss) for the year (19.02) 86.30
Debit Balance in P&L A/C brought
forward from previous year NIL NIL
Debit Balance carried forward to
Balance Sheet (19.02) NIL
STATE OF AFFAIRS OF THE COMPANY
Your Company has made net profit of Rs. 19.02 Lacs as on 31st March,
2012 as compared to the net profit of Rs. 86.30 Lacs during the
previous year. There is no accumulated loss of the Company. Your
Directors are making sincere efforts to increase the profit of the
Company.
During the year the Company has processed a total of 565400 KG of Peas
in Pea Season.
Now your company has already been launched its own product of pea
having brand name as Maxxofresh in different quantity and sizes for
which we have already applied for the registration of Trade mark is in
the process.
RESERVES
The Board of Directors of the Company has decided not to propose any
amount to carry any reserves in the Balance Sheet.
DIVIDEND
The Board of Directors has decided not to recommend any amount of
dividend with a view to conserve resources.
DISCLOSURE UNDER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956 READ
WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
A. CONSERVATION OF ENERGY
The Company is making efforts to reduce its dependence on State
Electricity power supply. It using Rice Husk for the boiler to
eliminate use of Fuel Oil.
B. TECHNOLOGY ABSORPTION
The Company is making efforts for absorption of sophisticated
technology.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year there are no earnings and outgo of foreign exchange as
already given in notes on Accounts.
PARTICULARS OF EMPLOYEES
Nobody is employed in the Company during the year or for part of the
year who is in receipt of remuneration exceeding the sum prescribed
under the provisions of Section 217(2A) of the Companies Act, 1956 read
with Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm and state:
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
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 at the end of the financial year ending on
March 31, 2012 and profit and loss 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 safeguarding 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.
AUDITORS& AUDITORS'' REPORT
The Statutory Auditors of the Company M/s.Gaur V.K. & Company,
Chartered Accountants, New Delhi, retire at the ensuing Annual General
Meeting in accordance with the provisions of Section 224 of Companies
Act, 1956 and being eligible, offer themselves for re-appointment and
confirm that if their re-appointment is made, it shall be within the
limits of Section 224
(1) (B) of the Companies Act, 1956.
Auditors'' Report on Annual Accounts of the company are self explanatory
and do not contain any reservation, qualification & adverse remark in
Auditors'' Report.
CHANGE OF NAME OF THE COMPANY
Pursuant to a direction (Ref No.1/85/T-1/09/D5728 of dated 25th
November,2011) received from Regional Director ,Northern Region
,Ministry of Corporate Affairs ,Noida (UP) under section 22(1)(b) of
the Companies Act,1956, the name of the your company has again been
changed from "ANS Limited" to "ANS Industries Limited" vide
Fresh Certificate of Incorporation issued by Registrar of Companies, NCT
of Delhi &Haryana on 8th February,2012
DEPOSITS
The company has not invited any deposits from public
DIRECTORS
Sh. Mahesh Sharma, who retires by rotation at the ensuing Annual
General Meeting and, being eligible, offers himself for re-appointment.
The details of Director seeking re-appointment are as follows:-
Name of Director Sh. Mahesh Sharma
Age 60 Years
Date of Appointment 11-06-2004
Expertise in Special Functional area Finance & Construction
Qualification M.Com.
Directorship held in other Companies as on
31-03-2012 Two
Membership of Committees in other Companies
in which he is Director as on 31-03-2012 One
No. of shares held in the Company
(including those held by relatives) 74800
CORPORATE GOVERNANCE
Auditors'' Certificate on compliances with the conditions of Corporate
Governance, a separate report on Corporate Governance and Management
Discussion and Analysis are enclosed as Annexure "A", "B" &
"C" respectively to this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the
constant and enthusiastic support of the Company''s Customers,
Shareholders, Suppliers, Bankers and the State & Central Governments
without which the Company would not have been able to accomplish
whatever it has actually attained. Your Directors also take this
opportunity to express their appreciation of the earnest efforts put in
by the employees at all levels in achieving the corporate objectives.
FOR & ON BEHALF OF THE BOARD
OF ANS INDUSTRIES LIMITED
Sd/- Sd/
Date: 25th August, 2012 (Mehinder Sharma) (S.R. Sahore)
Place: New Delhi Managing Director Director
Mar 31, 2011
The Directors are pleased to present the 17th Annual Report together
with Audited Annual Accounts for the financial year ended 31st March,
2011.
FINANCIAL RESULTS:
(Rs. in Lacs)
PARTICULARS CURRENT YEAR PREVIOUS YEAR
(2010-11) (2009-10)
Contract Receipts, Sales and other
Income 1129.34 1332.64
Profit/(Loss) before Interest,
Depreciation & Tax 129.93 98.92
Interest 0.00 0.00
Depreciation 43.63 43.58
Provision for taxation 0.00 0.00
Net Profit/(Loss) for the year 86.30 55.34
Debit Balance in P&L A/C brought
forward from previous year NIL NIL
Debit Balance carried forward to
Balance Sheet NIL NIL
STATE OF AFFAIRS OF THE COMPANY
Your Company has made net profit of Rs. 86.30 Lacs as on 31st March,
2011 as compared to the net profit of Rs. 55.34 Lacs during the
previous year. There is no accumulated loss of the Company. Your
Directors are making sincere efforts to increase the profit of the
Company.
During the year the Company has processed a total of 1030515 KG of Peas
in Pea Season out of which 110435 KG was processed for third parties.
Now your company is going to launch its own product of pea having brand
name as Maxxofresh in different quantity and sizes for which we have
already applied for the registration of Trade mark and we have got the
Bar Code No.8908001960 from GS-1for our product.
Civil Contracts work at Dahej has been completed successfully.
RESERVES
The Board of Directors of the Company has decided not to propose any
amount to carry any reserves in the Balance Sheet.
DIVIDEND
The Board of Directors has decided not to recommend any amount of
dividend with a view to conserve resources.
DISCLOSURE UNDER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956 READ
WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
A. CONSERVATION OF ENERGY
The Company is making efforts to reduce its dependence on State
Electricity power supply. It using Rice Husk for the boiler to
eliminate use of Fuel Oil.
B. TECHNOLOGY ABSORPTION
The Company is making efforts for absorption of sophisticated
technology.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year there are no earnings and outgo of foreign exchange as
already given in notes on Accounts.
PARTICULARS OF EMPLOYEES
Nobody is employed in the Company during the year or for part of the
year who is in receipt of remuneration exceeding the sum prescribed
under the provisions of Section 217(2A) of the Companies Act, 1956 read
with Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm and state:
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
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 at the end of the financial year ending on
March 31, 2011 and profit and loss 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 safeguarding 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.
AUDITORS& AUDITORS'' REPORT
The Statutory Auditors of the Company M/s.Gaur V.K. & Company,
Chartered Accountants, New Delhi, retire at the ensuing Annual General
Meeting in accordance with the provisions of Section 224 of Companies
Act, 1956 and being eligible, offer themselves for re-appointment and
confirm that if their re-appointment is made, it shall be within the
limits of Section 224 (1) (B) of the Companies Act, 1956.
Auditors'' Report on Annual Accounts of the company are self explanatory
and do not contain any reservation, qualification & adverse remark in
Auditors'' Report.
FIXED DEPOSITS
The company has not invited any fixed deposits from public in terms of
provisions of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposits) Rules 1975.
DIRECTORS
Sh. R. C.Sharma, who retires by rotation at the ensuing Annual General
Meeting and, being eligible, offers himself for re- appointment.
The details of Director seeking re-appointment are as follows:-
Name of Director Sh. R.C.Sharma
Age 64 Years
Date of Appointment 22-03-2006
Expertise in Special Functional area Construction
Qualification Intermediate
Directorship held in other Companies as on
31-03-2011 Nil
Membership of Committees in other Companies
in which he is Director as on 31-03-2011 Nil
No. of shares held in the Company
(including those held by relatives) 74800
CORPORATE GOVERNANCE
Auditors'' Certificate on compliances with the conditions of Corporate
Governance, a separate report on Corporate Governance and Management
Discussion and Analysis are enclosed as Annexure "A", "B"&
"C" respectively to this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the
constant and enthusiastic support of the Company''s Customers,
Shareholders, Suppliers, Bankers and the State & Central Governments
without which the Company would not have been able to accomplish
whatever it has actually attained. Your Directors also take this
opportunity to express their appreciation of the earnest efforts put in
by the employees at all levels in achieving the corporate objectives.
FOR & ON BEHALF OF THE BOARD
OF ANS LIMITED
Sd/- Sd/
Date: 26th August, 2011 (Mehinder Sharma) (S.R.Sahore)
Place: New Delhi Managing Director Director
Mar 31, 2010
The Directors are pleased to present the 16th Annual Report together
with Audited Annual Accounts for the financial year ended 31st March,
2010.
FINANCIAL RESULTS:
(Rs. in Lacs)
PARTICULARS CURRENT YEAR PREVIOUS YEAR
(2009-10) (2008-09)
Sales and Other Income 1332.64 1948.54
Profit/(Loss) before Interest,
Depreciation & Tax 98.92 409.08
Interest 0.00 8.06
Depreciation 43.58 46.03
Provision for taxation 0.00 0.47
Net Profit/(Loss) for the year 55.34 354.52
Debit Balance in P&LA/C brought
forward from previous year NIL NIL
Debit Balance carried forward to
Balance Sheet NIL NIL
STATE OF AFFAIRS OF THE COMPANY
Your Company has made net profit of Rs. 55.34 Lacs as on 31st March,
2010 as compared to the net profit of Rs. 354.52 Lacs during the
previous year. There is no accumulated loss of the Company. Your
Directors are making sincere efforts to increase the profit of the
Company.
The lease agreement with Temptation Foods Limited was terminated on
30th June, 2009! During the year the Company has processed 2842980 KG
of Peas in Pea Season for third parties.
Civil Contracts work is being done at Dahej. The balance work of the
site grading & deforestation work at IOC Panipat has been completed
successfully during the year 2010.
Now the company is now busy in maintenance for the ensuing season.
RESERVE
The Board of Directors of the Company has decided not to propose any
amount to carry any reserve in the Balance Sheet.
DIVIDEND
The Board of Directors has decided not to recommend any amount of
dividend with a view to conserve resources.
DISCLOSURE UNDER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956 READ
WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
A. CONSERVATION OF ENERGY
The Company is making efforts to reduce its dependence on State
Electricity power supply. It has also started using Rice Husk for the
boiler to eliminate use of Fuel Oil.
B. TECHNOLOGY ABSORPTION
The Company is making efforts for absorption of sophisticated
technology.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year there are no earnings and outgo of foreign exchange as
already given in notes on Accounts.
PARTICULARS OF EMPLOYEES
Nobody is employed in the Company during the year or for part of the
year who is in receipt of remuneration exceeding the sum prescribed
under the provisions of Section 217(2A) of the Companies Act, 1956 read
with Companies (Particulars of Employees) Rules, 1975.
DIRECTORSRESPONSIBILITY STATEMENT
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm and state:
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
2. that the directors had selected such accounting policies and
applied them consistently and made judgments and es- timates 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 ending on
March 31,2010 and profit and loss of the company for that period;
3. that the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accor- dance with the
provisions of this Act for safeguarding 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.
AUDITORS & AUDITORSREPORT
The Statutory Auditors of the Company M/s.Gaur V.K. & Company,
Chartered Accountants, New Delhi, retire at the ensuing Annual General
Meeting in accordance with the provisions of Section 224 of Companies
Act, 1956 and being eligible, offer themselves for re-appointment and
confirm that if their re-appointment is made, it shall be within the
limits of Section 224 (1) (B) of the Companies Act, 1956.
Auditors Report on Annual Accounts of the company are self explanatory
and dd not contained any reservation, qualification & adverse remark in
Auditors Report.
REAPPOINTMENT OF SH. MEHINDER SHARMA AS MANAGING DIRECTOR
Sh. Mehinder Sharma re-appointed as Managing Director of the Company
for five years w.e.f. 10-08-2009 to 09-08-2014 in the extra ordinary
general meeting of the members held on 8th August, 2009.
FIXED DEPOSITS
The company has not invited any fixed deposits from public in terms of
provisions of Section 58A of the Companies Act, 1956 read with
Companies (Acceptance of Deposits) Rules 1975.
DIRECTORS
Sh. S.R. Sahore, who retires by rotation at the ensuing Annual General
Meeting and, being eligible, offers himself for re- appointment.
The details of director seeking re-appointment are as follows:-
Name of Director Sh. S.R. Sahore
Age 72 Years
Date of Appointment 10-08-1994
Expertise in Special Functional area Engineering
Qualification B.Tech (Hons.) IIT, Kharagpur
Directorship held in other Companies as on 31-03-2010 Nil
Membership of Committees in other Companies in which he is Director as
on 31-03- Nil
2010
No. of shares held in the Company (including those held by relatives)
18300
DELISTING
Equity Shares of the company have been delisted from the Ludhiana Stock
Exchanges vide its letter dated 29-01-2010. However the equity share
of the company remain listed in Bombay stock Exchange & Delhi Stock
Exchange
CORPORATE GOVERNANCE
Auditors Certificate on compliance with the conditions of Corporate
Governance, a separate report on Corporate Governance and Management
Discussion and Analysis are enclosed as Annexure "A", "B"& "C"
respectively to this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the
constant and enthusiastic support of the Companys Customers,
Shareholders, Suppliers, Bankers and the State & Central Governments
without which the Company would not have been able to accomplish
whatever it has actually attained. Your Directors also take this
opportunity to express their appreciation of the earnest efforts put in
by the employees at all levels in achieving the corporate objectives.
FOR & ON BEHALF OF THE BOARD OF ANS LIMITED
Sd/- Sd/
Date: 27th August, 2010 (Mehinder Sharma) (S.R.Sahore)
Place: New Delhi Managing Director Director
Mar 31, 2009
The Directors are pleased to present the 15th Annual Report and Audited
Annual Accounts for the financial year ended 31st March, 2009.
FINANCIAL RESULTS:
(Rs.in Lacs)
PARTICULARS CURRENT YEAR PREVIOUS YEAR
(2008-09) (2007-08)
Sales and Other Income 1948.54 395.91
Profit/(Loss) before Interest,
Depreciation & Tax 409.08 115.68
Interest 8.06 20.07
Depreciation 46.03 52.66
Provision for taxation 0.47 14.79
Net Profit/(Loss) for the year 354.52 28.16
Debit Balance in P&L A/C brought
forward from previous year NIL NIL
Debit Balance carried forward to
Balance Sheet NIL NIL
PERFORMANCE
Your Company has made net profit of Rs. 354.52 Lacs as on 31st March,
2009 as compared to the net profit of Rs. 28.16 Lacs during the
previous year. There is no accumulated loss of the Company. Your
Directors are making sincere efforts to increase the profit of the
Company.
The lease agreement for Karnal unit expired on 30th November, 2008 and
the Company had entered into a fresh lease agreement with Temptation
Foods Limited w.e.f. 1st December, 2008.This lease has æ sen terminated
on 30th June, 2009.The Company is now busy in maintenance & overhaul of
the Plant Site Grading work has been done at Dahej.Your Company has
been awarded the site grading & deforestation work at IOC Panipat, out
of which Rs.500.00 Lacs worth work has been completed.
The contract with M/S BUNGE S A has been completed.
The Company had received advance of Rs,50.00 Lacs in March, 2008
towards Technical Consultancy from Simon India Limited. The assignment
has been successfully completed.
CHANGE OF NAME OF THE COMPANY
Your Directors are pleased to inform you that the name of the Company
has been changed from "ANS Agro Industries Limited" to "ANS Limited"
pursuant to Fresh Certificate of Incorporation issued by Registrar of
Companies, NCT of Delhi & Haryana dated 29th September, 2008.
DIVIDEND
The Board of Directors has decided not to recommend any dividend with a
view to conserve resources.
DIRECTORS
Sh. Mahesh Sharma retires by rotation at the ensuing Annual General
Meeting and, being eligible, offers himself for re-appointment.
The details of Director seeking re-appointment are as follows:-
Name of Director Sh. Mahesh Sharma
Age 57 Years
Date of Appointment 11-06-2004
Expertise in Special
Functional area Finances Constructor,
Qualification M.Com
Directorship held in
other Companies as on
31-03-2009 Two
Membership of Committees
in other Companies in
which he is One
Director as on 31-03-2009
No. of shares held in
the Company (including
those held by relatives) 74300
AUDITORS
The Statutory Auditors of the Company M/s.Gaur V.K. & Company,
Chartered Accountants, New Delhi, tire at the ensuing Annual General
Meeting in accordance with the provisions of Section 224 of Companies
Act, 1956 and being eligible, offer themselves for re-appointment and
confirm that if their re-appointment is made, it shall be within the
limits of Section 224 (1) (B) of the Companies Act, 1956.
AUDITORS REPORT
As regards Auditors Report there is no adverse comment and hence no
explanations are required except to the loan amount of Rs.1.94 Crores
given to a Company in which two Directors of the Company are also
Directors in that Company. This fact came to our knowledge as a remark
in the Auditors Report and now the Company is in process of taking
back this loan.
FIXED DEPOSITS
The Company has not taken any fixed deposit from the public.
DIRECTORS RESPONSIBILITY STATEMENT
As required under Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm and state: that in the preparation of the annual
accounts, the applicable accounting standards have been followed along
with proper explanation relating to material departures;
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 at the end of the financial year ending on
March 31, 2009 and profit and loss 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 safeguarding 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.
DISCLOSURE UNDER SECTION 217(1) (e) OF THE COMPANIES ACT, 1956 READ
WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
A. CONSERVATION OF ENERGY
The Company is making effQrts to reduce its dependence on State
Electricity power supply. It has also started using Rice Husk for the
boiler to eliminate use of Fuel Oil.
B. TECHNOLOGY ABSORPTION
The Company is making efforts for absorption of sophisticated
technology.
C. FOREIGN EXCHANGE EARNING & OUTGO
During the year there are no earnings and outgo of foreign exchange as
already given in notes on Accounts. However the Company received an
Advance of USD 2500000 /- in year 2007 for merchant trading of goods &
commodities. The sale has been completed in May, 2008.
PARTICULARS OF EMPLOYEES
Nobody is employed in the Company during the year or for part of the
year who is in receipt of remuneration exceeding the sum prescribed
under the provisions of Section 217(2A) of the Companies Act, 1956.
CORPORATE GOVERNANCE
Auditors Certificate on compliance with the conditions of Corporate
Governance, a separate report on Corporate Governance and Management
Discussion and Analysis are enclosed as Annexure "A", "B"& "C"
respectively to this report.
ACKNOWLEDGEMENT
Your Directors wish to convey their thankful appreciation for the
constant and enthusiastic support of the companys customers,
shareholders, suppliers, Bankers and the State and Central Governments
without which the Company would not have been able to accomplish
whatever it has actually attained. Your Directors also take this
opportunity to express their appreciation of the earnest efforts put in
by the employees at all levels in achieving the corporate objectives.
FOR & BEHALF OF THE BOARD
OF ANS LIMITED
Date: 31st August, 2009 (Mehinder Sharma) (S.R.Sahore)
Place: New Delhi Managing Director Director