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Directors Report of Ashram Online.com Ltd.

Mar 31, 2013

Dear Shareholders,

The Directors have great pleasure in presenting the 22nd Annual Report together with the Audited Accounts of your Company for the financial year ended 31st March 2013.

1. OPERATIONS

The financial results of the Company for the year ended 31st March 2013 is summarized below:

Rs. in Lacs

Particulars Year ended Year ended 31st March 31st March 2013 2012

Income from Operations ---- ---

Non-operating Income 14.22 9.66

Total Income 14.22 9.66

Total Expenditure 32.82 23.48

Profit/Loss before Depreciation -18.60 -13.82

Interest and Taxation

Interest & Finance Charges ---- ----

Depreciation 0.10 0.12

Profit/Loss before Tax -18.70 -13.93

Provision for Current Taxes ---- ----

Provision for Deferred Taxes ---- ----

Profit/Loss after Tax -18.70 -13.93

Statutory Reserve ---- ----

Balance in Profit & Loss Account -15.80 -1.87

Balance carried to Balance Sheet -34.49 -15.80



Your Company has incurred a loss, of Rs. -18.70 lacs for the financial year 2012 - 2013 as compared to loss of Rs.-13.93 in the previous year 2011 – 2012.

DIVIDEND

In order to stream Line Company''s business model, the board of directors have decided not to declare any dividend for the current fiscal.

FIXED DEPOSITS

The Company has not accepted any public deposits and , as such, no amount on account of principal or interest on public deposit was out standing as on date of balance sheet.

DIRECTORS

Mr. E. Subbarayan Director, and Mr. Jetender Surchander Rao Director retire by rotation and being eligible offer themselves for reappointment.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm that:

i) in the preparation of the Annual Accounts for the financial year ended 31st March, 2013 the applicable Accounting Standards have been followed and there are no material departures;

ii) they 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 account of the company for that period;

iii) they have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv) they have prepared annual accounts on a going concern basis.

AUDITORS

M/s K Subramanyam & Co, Chartered Accountants, Auditors of the Company, retire at ensuing Annual General Meeting and have furnished a certificate under Section 224(1B) regarding their eligibility for reappointment as the Company''s Auditors for the year 2013 - 14. The Auditor have certified the Company''s Compliance of the requirements of Corporate Governance in terms of the Listing Agreement and the same is enclosed as an annexure to the Corporate Governance Report.

PARTICULARS OF EMPLOYEES

Particulars of the employees of the Company who were in receipt of remuneration, which in aggregate exceeded the limits fixed under Section 217 (2A) of the Companies Act, 1956 and Companies (Particulars of Employees) Rules 1975 is not applicable to the company for the year.

PARTICULARS AS REQUIRED 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 Conservation of Energy.

The Company had taken steps to conserve energy in its office use, consequent to which energy consumption has been minimized. Since the company has not carried on industrial activities, disclosures regarding impact of measures on cost of production of goods, total energy consumption, etc., are not applicable.

Technology Absorption:-

The company has not adopted / intends to adopt any technology for its business and hence no reporting is required to be furnished under this heading.

Foreign Exchange Inflow & Outgo:-

Foreign Exchange inflow during the year :- Nil Foreign Exchange outgo during the year :- Nil

MANAGEMENT DISCUSSION & ANALYSIS REPORT

The Management Discussion & Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreements is presented in a separate section forming part of the Directors Report as Annexure A.

CORPORATE GOVERNANCE

Your Company is committed to maintain the highest standards of Corporate Governance. Your Directors adhere to the requirements set out by the Securities Exchange Board of India''s, Corporate Governance Practices and have implemented all the stipulations prescribed. Report on Corporate Governance as stipulated in Clause 49 of the Listing Agreement is presented in a separate section forming part of the Directors'' Report as Annexure B.

EXPLANATION TO AUDITORS OBSERVATION

As regards the qualification given by the auditor in Point No. IX Annexure to Auditor Report. The Company has filed a writ petition and stay petition with the Honorable High Court of Madras.

COMPANY SECRETARY

The Company is making consistent efforts for appointment of whole time Company Secretary. The Company has been availing services of practicing Company Secretary from time to time to ensure compliance of the provisions of the applicable acts and statutes . Also the Annual Return of the Company is being certified by practicing Company Secretary from year to year and the company is also taking certification from them for Stock Exchanges Compliances .

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for assistance and co-operation received from the Financial Institutions, Banks, Government Authorities, Customers and Members during the year under review.Your Directors also wish to place on record their deep sense of appreciation for committed and dedicated services of the workers, staff, and officers of the Company.



BY THE ORDER OF THE BOARD

FOR ASHRAM ONLINE.COM LIMITED

Sd/-

PLACE : CHENNAI S. PA NNALAL TATIA

DATE : 30.08.2013 CHAIRMAN CUM EXECUTIVE DIRECTOR


Mar 31, 2012

Dear Shareholders,

The Directors have great pleasure in presenting the Twenty First Annual Report together with the Audited Accounts of your Company for the financial year ended 31st March 2012

OPERATIONS

The financial results of the Company for the year ended 31st March 2012 is summarized below:

(Rs in Lacs)

Year ended 31st Year ended 31st Particulars March 2012 March 2011

Income from Operations - -

Non-operating Income 9.66 9.97

Total Income 9.66 9.97

Total Expenditure 23.48 28.10

Profit/Loss before Depreciation, Interest and Taxation -13.82 -18.13

Interest & Finance Charges 0.00 0.00

Depreciation 0.12 0.16

Profit/Loss before Tax -13.94 -18.29

Provision for Current Taxes 0 0

Provision for Deferred Taxes 0 0

Profit/Loss after Tax -13.94 -18.29

Balance in Profit & Loss Account -1.87 16.42

Balance carried to Balance Sheet 15.8 -1.87

Your Company has incurred a loss, of Rs. (-13.94) lacs for the financial year 2011-12 as compared to loss of Rs.(18.29) in the previous year 2010-11.

DIVIDEND

Since the company incurred Loss, no dividend is recommended for the current financial year by the Board of Directors

FIXED DEPOSITS

The Company has not accepted any public deposits and, as such, no amount on account of principal or interest on public deposit was out standing as on date of balance sheet.

DIRECTORS

Ms. C.. Hemamalini and Mr.S. Pannalal Jain Tatia, Directors retire by rotation and being eligible offer themselves for reappointment.

Mr. Jetender Surchander Rao was appointed as an Additional Director w.e.f. 6th April, 2012 by the Board of Directors in their meeting held on the same day. Resolution seeking the approval of the Members for the appointment has been incorporated in the Notice of the Annual General Meeting and the brief detail about Mr. Jetender Surchander Rao has been provided in the Corporate Governance Report.

Mr. Gopal B Ahuja and Mr. Bharat Jain Tatia has resigned their directorship on 6th April, 2012 and the Board places on record its appreciation of the invaluable contribution made by them during their tenure as a Director of the Company.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm that:

i) In the preparation of the Annual Accounts for the financial year ended 31st March, 2012 the applicable Accounting Standards have been followed and there are no material departures;

ii) They 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 account of the company for that period;

iii) They have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv) They have prepared annual accounts on a going concern basis.

AUDITOR''S

M/s K Subramanyam & Co, Chartered Accountants, Auditors of the Company, retire at ensuing Annual General Meeting and have furnished a certificate under Section 224(1B) regarding their eligibility for reappointment as the Company''s Auditors for the year 2012 - 13.

PARTICULARS OF EMPLOYEE''S

Particulars of the employees of the Company who were in receipt of remuneration, which in aggregate exceeded the limits fixed under Section 217 (2A) of the Companies Act, 1956 and Companies (Particulars of Employees) Rules 1975 is not applicable to the company for the year.

PARTICULARS AS REQUIRED 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

Conservation of Energy

The Company had taken steps to conserve energy in its office use, consequent to which energy consumption has been minimized. No additional Proposals/Investments were made to conserve energy. Since the company has not carried on industrial activities, disclosures regarding impact of measures on cost of production of goods, total energy consumption, etc., are not applicable.

Technology Absorption:-

The company has not adopted / intends to adopt any technology for its business and hence no reporting is required to be furnished under this heading.

Foreign Exchange Inflow & Outgo:-

Foreign Exchange inflow during the year :- Nil

Foreign Exchange outgo during the year :- Nil

MANAGEMENT DISCUSSION & ANALYSIS REPORT

The Management Discussion & Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreements is presented in a separate section forming part of the Directors Report.

CORPORATE GOVERNANCE

Your Company is committed to maintain the highest standards of Corporate Governance. Your Directors adhere to the requirements set out by the Securities Exchange Board of India''s, Corporate Governance Practices and have implemented all the stipulations prescribed. Report on Corporate Governance as stipulated in Clause 49 of the Listing Agreement is presented in a separate section forming part of the Directors'' Report as Annexure A.

EXPLANATION TOAUDITORS OBSERVATION

As regards the qualification given by the auditor in Point No. IX Annexure to Auditor Report . The Company has filed a writ petition and obtained stay order from the Honorable High Court of Madras.

REGISTRAR CUM TRANSFER AGENT

The Company appointed M/s Knack Corporate Services Limited as Registrar and Transfer Agent (RTA) during the year . However M/s. Knack Corporate Services Private Limited have not completed all required formalities and provided connectivity on full basis. Only the National Securities Depository Limited connectivity was shifted to M/ s. Knack Corporate Services Private Limited. The Central Depository Services ( India) Limited connectivity is still with M/s. Cameo Corporate Services Limited due to non completion of formalities by M/s Knack Corporate Services Private Limited . Knack Corporate Services Private Limited had requested the company for completing the transfer of The Central Depository Services ( India) Limited connectivity to them very soon.

COMPANY SECRETARY

The Company is making consistent efforts for appointment of whole time Company Secretary. The Company has been availing services of practicing Company Secretary from time to time to ensure compliance of the provisions of the applicable acts and statutes . Also the Annual Return of the Company is being certified by practicing Company Secretary from year to year and the company is also taking certification from him for Stock Exchange Compliances.

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for assistance and co-operation received from the Financial Institutions, Banks, Government Authorities, Customers and Members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for committed and dedicated services of the workers, staff, and officers of the Company.

BY THE ORDER OF THE BOARD

FOR ASHRAM ONLINE .COM LIMITED

Sd/-

S. PANNALAL TATIA

CHAIRMAN CUM EXECUTIVE DIRECTOR

PLACE: CHENNAI

DATE : 30th August 2012


Mar 31, 2009

The Directors have great pleasure in presenting the 18th Annual Report together with the Audited Accounts of your Company for the financial year ended 31st March 2009.

OPERATIONS

The financial results of the Company for the year ended 31st March 2009 is summarized below:

(Rs in Lacs)

Particulars Year ended 31st Years ended 31st March 2009 March 2008

Income from Operations 703.32

Non-operating Income 10.23 6.64

Total Income 10.23 709,96

Total Expenditure 28.11 707,39

Profit before Depreciation, Interest and Taxation -17.86 2.57

Interests, Finance Charges 0,00 0.07

Depreciation 0.29 0.35

Profit before tax -18.17 2.15

Provision tor Current Taxes 0 0.33

Provision for Deferred Taxes 0.03 0

Profit after Tax -18.13 1.82

Balance in Profit & Loss Account 47.33 45.51

Balance carried to Balance Sheet 9.20 47.33

Your Company has incurred a loss of Rs. 18.13 lacs for the financial year 2008-09 as compared to profit of Rs. 1.82 lacs In the previous year 2007 08

DIVIDEND

Due to on going business constraints to maintain operating profitability, the board of directors have decided not to declare any dividend for the current fiscal.

FIXED DEPOSITS

The company has not invited or accepted any Fixed Deposits from the public.

DIRECTORS

Mr. E. Subbarayan and Ms. D. Ruby, Directors retire by rotation and being eligible offer themselves for reappointment.



DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1956 the Directors hereby confirm that:

i) In the preparation of the Annual Accounts for the financial year ended 31stMarch, 2009 the applicable Accounting Standards have been followed and there are no material departures;

ii) they 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 account of the company for that period;

iii) They have taken proper and sufficient care to the besl of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provlsions of the Act for safeguarding the assets. of the Company and for preventing and detecting fraud and other irregularities:

(V) They have prepared annual accounts on a going concern basis.

AUDITORS

M/s K Subramanyam & Co. Chartered Accountants. Auditors of the Company, retire at ensuing Annual General Meeting and have furnished a certificate under Section 224(1B) regarding their eligibility for reappointment as the Companys Auditors for the year 2008 -09.

PARTICULARS OF EMPLOYEES

Particulars of the employees of the Company who were in receipt of remuneration, which in aggregate exceeded the limits fixed under Section 217 (2A) of the Companies Act. 1856 and Companies (Particulars of Employees) Rules 1975 is not applicable to the company for the year

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO

As the company is not an industrial undertaking, accordingly, particulars with regard to conservation of energy and technology absorption and adaptation required to be given under these heads in accordance with the provisions of

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 are not applicable.

There is no reportable information on Foreign Exchanges Earnings and Outgo during the review under review.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

The Management Discussion & Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreements is presented in a separate section forming part of the Directors Report

CORPORATE GOVERNANCE

Vouc Company is committed to maintain the highest standards of Corporate Governance. Your Directors adhere to the requirements set out by the Securities Exchange Board of Indias, Corporate Governance Practices and have implemented all the stipulations prescribed. Report on Corporate Governance as stipulated in Clause 49 of the Listing Agreement is presented in a separate section forming part of the Directors Report.

EXPLANATION TO AUDITORS OBSERVATION

The company has filed a writ petition and obtained stay order form the Honourable High Court of Madras.

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for assistance and co-operation received from the Financial Institutions, Banks, Government Authorities, Customers and Memhers during the year under review,

Your Directors also wish to place on record their deep sense of apprecation for committed and dedicated services of the workers, staff, and officers of the Company

BY THE ORDER OF THE BOARD FOR ASHRAM ONLINE COM LIMITED

Sd/-

S.PANNALALTATIA

CHAIRMAN

PLACE:CHENNAI

DATE : 2nd September, 2009

 
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