Mar 31, 2018
DIRECTORSâ REPORT
The Directors have pleasure in presenting before you the Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2018.
BACKGROUND:
Autumn Builders Limited was established under the Companies Act, 1956, on February 25, 2009, having its registered office in the state of West Bengal. The Company is prominently engaged in the development, sale and lease of commercial, residential, retail and industrial properties, undertakes residential and commercial construction projects but has during the previous year also carried out business pertaining to embroidery and sale of cloths/textiles.
FINANCIAL RESULTS:
The summarized financial results of the Company for the year ended 31st March, 2018 are as follows:
Particulars |
Current Year ended 31.03.2018 |
Previous Year Ended 31.03.2017 |
Profit Before Tax |
97,004.12 |
(4,076.99) |
Less: Provisions for Income Tax Less: Provisions for Deferred Tax |
48,750.00 (23,740.00) |
65,550.00 (33,528.00) |
Profit after Tax |
71,994.12 |
(36,098.99) |
Balance of Profit brought forward |
2,101,521.86 |
2,137,620.85 |
Balance Carried to Balance Sheet |
13,83,515.98 |
2,101,521.86 |
PERFORMANCE:
During the financial year 2017-18 your Company achieved a turnover of Rs. 10,245,890.22. The Company operated under two different business segments and therefore was able to achieve contemporary revenue growths. The Company had operating profits during the year, which had been further retained so as to contribute in the growth and prosperity of the business.
DIVIDEND:
The company though had profits during the period but by looking at the businessâs going concern and for the growth of the same the Directorsâ have not announced any dividend in the current year.
CONVERSION OF COMPANY INTO A PUBLIC LIMITED COMPANY
During the FY 2012-13, the Company was a Private limited Company. Subsequently, our Company was converted into a Public limited Company under the Companies Act, 1956 and the name of the Company was changed to âAutumn Builders Limitedâ pursuant to issue of fresh Certificate of Incorporation consequent upon change of name on conversion to public limited Company dated October 15, 2013.
DIRECTORS:
Mr. Deepak Kumar Singh, Managing Director, retires by rotation at the ensuing Annual General Meeting (AGM) and being eligible, offers himself for re-appointment.
The Companies Act, 2013 provides for appointment of Independent directors. Sub-section (10) of Section 149 of the Companies Act, 2013 provides that Independent Director shall hold office for a term of up to five consecutive years on the Board of a company and shall be eligible for re-appointment on passing a special resolution by the shareholders of the company. Sub-section 11 states that no Independent director shall be eligible for more than two consecutive terms of up to five years each. Subsection (13) states that the provision in respect of retirement of directors by rotation as defined in subsections (6) and (7) of Section 152 of the Act shall not apply to such Independent directors. Further, appointment of existing Independent Directors as required by the Companies Act, 2013, also needs to be made as per Sections 149,150 and 152 read with schedule IV thereto and rules made thereunder.
Accordingly Mr. Sant Lal Goel (holding DIN - 01930453), Mr. Punit Parasramka (holding DIN - 02794913), and Mrs. Rani Mishra (holding DIN - 07250415), the existing Independent Directors of the company, are not liable to retire by rotation.
KMP CHANGES:
No Changes.
AUDITORS:
M/s Uttam K Garg & Co., Chartered Accountants, Statutory Auditors of the Company, retires at the conclusion of the ensuing Annual General Meeting of the Company as per Section 139 of the Companies Act, 2013 .In place of those retiring M/s. Singhal Naveen & Associates have been considered for appointment. They have offered themselves for appointment as Statutory Auditors and have provided a certificate of their consent letter for appointment, as per the provisions of the Act and they are not disqualified for appointment. The Board of Directors and the Audit Committee recommend their appointment for the ensuing year.
The Notes on financial statement referred to in the Auditorâs Report are self-explanatory and do not call for any further comments. The Auditors Report does not contain qualification reservation or adverse remark.
SECRETARIAL AUDITORS:
M/s S.A. Associates, Company Secretaries have conducted the Secretarial Audit of the Company. The Auditorsâ Report is self explanatory in nature and does not contain any adverse remark and qualification. The Secretarial Audit Report forms part of this report in Annexure-A.
DIRECTORSâ RESPONSIBILITY STATEMENT:
Pursuant to the requirement clause of Section 134(5) of the Companies Act, 2013 with respect to Directorsâ Responsibility Statement, your Directors hereby confirm that:-
(i) In the preparation of the annual accounts for the year ended 31st March,2018, the applicable accounting standards read with requirements set out under Schedule III to the Companies Act,2013, have been followed and there are no material departures from the same;
(ii) 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 as at the end of the financial year and of the profit of the Company for that period;
(iii) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of the Companies Act,2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities ;and
(iv) The Directors have prepared the annual accounts of the Company on a âgoing concernâ basis.
(v) They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As required under the Listing Agreement for Institutional Trading Platform of the SME Exchange, Bombay Stock Exchange Limited, Management Discussion and Analysis Report is presented in the separate section and forms an integral part of the Directors Report.
CORPORATE GOVERNANCE
Your Company has taken adequate steps to adhere to all the stipulations laid down in Listing Agreement. A detailed report on the Corporate Governance in compliance with Listing Agreement is presented as a part of the Annual Report. A Certificate from the Auditor on the compliance with Corporate Governance requirements by your Company is attached to the Report on Corporate Governance.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:
The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company. Therefore the information related to those aspects is not given. Further, since the Company has not entered into any foreign contracts, the company neither has any foreign exchange earnings nor they had any long term contingencies.
NUMBER OF BOARD MEETINGS
The number of Board Meetings held during the year stands at 4.
S.No |
Date of Meeting |
Board Strength |
No. of Directors Present |
1. |
26th May, 2017 |
4 |
4 |
2. |
10th August, 2017 |
4 |
4 |
3. |
14th November, 2017 |
4 |
4 |
4. |
23rd December, 2017 |
4 |
4 |
CSR POLICY
The provisions of Section 135 of the Companies Act, 2013 are not applicable to the Company.
EXTRACT OF ANNUAL RETURN
As required under Section 92 of the Companies Act, 2013, the extract of Annual Return in Form - MGT-9 is presented in the separate section of this Report in Annexure-B and forms an integral part of this report.
LOANS, GUARANTEES & INVESTMENTS
The Company has not given any loan to or provided any guarantee or security in favor of any other parties. The Company has also not made any investment of its fund with any other party.
INTERNAL FINANCIAL CONTROLS
The Company has put in place an adequate system of internal financial controls with respect to the financial statements and commensurate with its size and nature of business which helps in ensuring the orderly and efficient conduct of business. No reportable material weakness in operation was observed.
RISK MANAGEMENT POLICY
The Company has robust systems for Risk Assessment and mitigation which is reviewed periodically. The Companyâs risk identification and assessment process is dynamic and hence it has been able to identify, monitor and mitigate the most relevant strategic and operational risks.
HUMAN RESOURCES:
There are no employees as on date on the rolls of the Company who are in receipt of Remuneration which requires disclosures under the provisions of Section 197(12) of the Act read with Rules 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,2014.
During the year under review, relationship with the employees is cordial.
LISTING ON SME PLATFORM
Your Directors are pleased to inform you that the Companyâs securities have now been listed on the ITP Platform of BSE Limited on April 14, 2014 and the Company has paid listing fee to the Exchange for the year 2014-15.
CONSOLIDATED FINANCIAL STATEMENTS
Since there is no subsidiary of the Company at present, hence no consolidated financial statements have been prepared.
PUBLIC DEPOSITS
During the year under review, the Company has not accepted or renewed any fixed deposits from the public.
ANNEXURES TO THIS REPORT:
The Annexures referred to in this report and other information which are required to be disclosed are annexed herewith and forms part of this report of the Directors:
Annexure |
Particulars |
A |
Secretarial Audit Report |
B |
Extract of Annual Return |
C |
Corporate Governance Report |
D |
Management Discussion and Analysis Report |
ACKNOWLEDGEMENT:
Your Directors place on record their appreciation of the support extended by its Employees, Bankers, Customers and various Government Agencies. The Board also wishes to thank the shareholders for their unstinted support.
By order of the Board of Directors
Date: 22.08.2018 For Autumn Builders Limited
Place: Kolkata Deepak Kumar Singh Punit Parasramka
(Director) (Director)
DIN: 03053786 DIN: 02794913
Mar 31, 2015
Dear Members,
The Directors have pleasure in presenting before you the Annual Report
of the Company together with the Audited Statements of Accounts for the
year ended 31st March, 2015.
BACKGROUND:
Autumn Builders Limited was established under the Companies Act, 1956,
on February 25, 2009, having its registered office in the state of West
Bengal. The Company is prominently engaged in the development, sale and
lease of commercial, residential, retail and industrial properties,
undertakes residential and commercial construction projects.
FINANCIAL RESULTS:
The summarized financial results of the Company for the year ended 31st
March, 2015 are as follows:
Particulars Current Year ended Previous Year Ended
31.03.2015 31.03.2014
Profit Before Tax 2,478,203.62 446,983.70
Less: Provisions for Income Tax 713,598.00 86,525.00
Less: Provisions for Deferred Tax (585.00) (7,288.00)
Profit after Tax 1,765,190.62 367,746.70
Balance of Profit brought forward 497,936.70 130,190.00
Depreciation Adjustment pursuant to 66,397.00 -
Schedule II of the Companies Act,2013
Balance Carried to Balance Sheet 2,196,730.32 497,936.70
PERFORMANCE:
During the financial year 2014-15 your Company achieved a turnover of
Rs. 19,742,950 with a 277.29% (approx) increase over last year
turnover. Net profit (Post tax) for the year 2014-15 stood at
Rs.1,765,190.62. The Earning per share (EPS) is 0.14.
DIVIDEND:
Your Directors feel that Company should re- invest the profit in the
business and to target growth in the existing business areas. In order
to meet its growing fund requirement and to conserve its resources for
future expansions, the Directors have decided not to recommend the
dividend for the current year.
CONVERSION OF COMPANY INTO A PUBLIC LIMITED COMPANY
During the FY 2012-13, the Company was a Private limited Company.
Subsequently, our Company was converted into a Public limited Company
under the Companies Act, 1956 and the name of the Company was changed
to "Autumn Builders Limited" pursuant to issue of fresh Certificate of
Incorporation consequent upon change of name on conversion to public
limited Company dated October 15, 2013.
DIRECTORS:
Mr. Deepak Kumar Singh, Managing Director, retires by rotation at the
ensuing Annual General Meeting (AGM) and being eligible, offers himself
for re-appointment.
The Companies Act, 2013 provides for appointment of Independent
directors. Sub-section (10} of Section 149 of the Companies Act, 2013
provides that Independent Director shall hold office for a term of up
to five consecutive years on the Board of a company and shall be
eligible for re-appointment on passing a special resolution by the
shareholders of the company. Sub-section 11 states that no Independent
director shall be eligible for more than two consecutive terms of up to
five years each. Sub-section (13} states that the provision in respect
of retirement of directors by rotation as defined in sub-sections (6)
and (7) of Section 152 of the Act shall not apply to such Independent
directors. Further, appointment of existing Independent Directors as
required by the Companies Act, 2013, also needs to be made as per
Sections 149,150 and 152 read with schedule IV thereto and rules made
thereunder.
Accordingly Mr. Sant Lai Goel (holding DIN - 01930453), Mr. Punit
Parasramka (holding DIN - 02794913), and Mr. Vikash Agarwal (holding
DIN - 06405191),the existing Independent Directors of the company, are
not liable to retire by rotation, for a term up to 31st March,2019.
KMP CHANGES:
Ms Anisha Agarwal ceased to be a Company Secretary & Compliance Officer
with effect from 21/07/2015 KMP APPOINTMENT
Mrs Priyanka Mohta has been appointed as the Company Secretary
&Compliance Officer with effect from 21/07/2015.
AUDITORS:
M/s Alfa Daga & Associates, Chartered Accountants, Statutory Auditors
of the Company, retire at the conclusion of the ensuing Annual General
Meeting of the Company. They have offered themselves for re-
appointment as Statutory Auditors and have provided a certificate that
their re-appointment, if it is made will be in conformity with the
provisions of the Act and they are not disqualified for appointment.
The Board of Directors and the Audit Committee recommend their
appointment for the ensuing year.
The Notes on financial statement referred to in the Auditors Report are
self-explanatory and do not call for any further comments. The Auditors
Report does not contain qualification reservation or adverse remark.
DIRECTORS' RESPONSIBILITY STITEMENT:
Pursuant to the requirement clause of Section 134(5) of the Companies
Act, 2013 with respect to Directors' Responsibility Statement, your
Directors hereby confirm that
(i) In the preparation of the annual accounts for the year ended 31st
March,2015, the applicable accounting standards read with requirements
set out under Schedule III to the Companies Act,2013, have been
followed and there are no material departures from the same;
(ii) 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 as at the end of the financial year and of the profit of
the Company for that period;
(iii) The Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of the Companies Act,2013 for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities
;and
(iv) The Directors have prepared the annual accounts of the Company on
a 'going concern' basis;
(v) They have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems are adequate
and operating effectively.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As required under the Listing Agreement to be entered into with Bombay
Stock Exchange Ltd., Management Discussion and Analysis Report is
presented in the separate section and forms an integral part of the
Directors Report.
CORPORATE GOVERNANCE
Your Company has taken adequate steps to adhere to all the stipulations
laid down in Listing Agreement. A detailed report on the Corporate
Governance in compliance with Listing Agreement is presented as a part
of the Annual Report. A Certificate from the Auditor on the compliance
with Corporate Governance requirements by your Company is attached to
the Report on Corporate Governance.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
The information on conservation of energy, technology absorption and
foreign exchange earnings and outgo stipulated under Section 134(3)(m)
of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts)
Rules, 2014 is not applicable to the Company. Therefore the information
related to those aspects is not given. Further, there has been no
foreign exchange earnings and outgo during the year under Report.
EXTRACT OF ANNUAL RETURN
The details forming part of the extract of the Annual Return in form
MGT-9 as required under Section 92 of the Companies Act, 2013 is
included in this report as Annexure-B and forms an integral part of the
Report.
NUMBER OF BOARD MEETINGS
The number of Board Meetings held during the year stands at 4.
CSR POLICY
The provisions of Section 135 of the Companies Act, 2013 are not
applicable to the Company.
LOANS, GUARANTEES & INVESTMENTS
The Company has not given any loan to or provided any guarantee or
security in favor of any other parties. The Company has also not made
any investment of its fund with any other party.
INTERNAL FINANCIAL CONTROLS
The Company has put in place an adequate system of internal financial
controls with respect to the financial statements and commensurate with
its size and nature of business which helps in ensuring the orderly and
efficient conduct of business. No reportable material weakness in
operation was observed.
RISK MANAGEMENT POLICY
The Company has robust systems for Risk Assessment and mitigation which
is reviewed periodically. The Company's risk identification and
assessment process is dynamic and hence it has been able to identify,
monitor and mitigate the most relevant strategic and operational risks.
SECRETARIAL AUDIT
Pursuant to the provisions of Section 204 of the Companies Act, 2013
and The Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the Company has appointed 5.A. & Associates
(Company Secretaries) to undertake the Secretarial Audit of the
Company. The Secretarial Audit Report is Included in Annexure-A and
forms an integral part of this report.
HUMAN RESOURCES:
There are no employees as on date on the rolls of the Company who are
in receipt of Remuneration which requires disclosures under the
provisions of Section 197(12) of the Act read with Rules 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel)
Rules,2014.
During the year under review, relationship with the employees is
cordial.
LISTING ON SME PLATFORM
Your Directors are pleased to inform you that the Company's securities
have now been listed on the ITP Platform of BSE Limited on April 14,
2014 and the Company has paid listing fee to the Exchange for the year
2014-15.
CONSOLIDATED FINANCIAL STATEMENTS
Since there is no subsidiary of the Company at present, hence no
consolidated financial statements have been prepared.
PUBLIC DEPOSITS
During the year under review, the Company has not accepted or renewed
any fixed deposits from the public.
ACKNOWLEDGEMENT:
Your Directors place on record their appreciation of the support
extended by its Employees, Bankers, Customers and various Government
Agencies. The Board also wishes to thank the shareholders for their
unstinted support.
By order of the Board of Directors
Date: 30.05.2015 For Autumn Builders Limited
Place: Kolkata
Deepak Kumar Singh
(Managing Director)
Mar 31, 2014
Dear members,
The Directors have pleasure in presenting before you the Annual Report
of the Company together with the Audited Statements of Accounts for the
year ended 31st March, 2014.
BACKGROUND:
Autumn Builders Limited was established under the Companies Act, 1956,
on February 25, 2009, having its registered office in the state of West
Bengal. The Company is prominently engaged in the development, sale and
lease of commercial, residential, retail and industrial properties,
undertakes residential and commercial construction projects.
FINANCIAL RESULTS:
The summarized financial results of the Company for the year ended 31st
March, 2014 are as follows:
(In Rs.)
Particulars Current Year ended Previous Year Ended
31.03.2014 31.03.2013
Profit Before Tax 446,983.70 27,229.00
Less: Provisions for Income Tax 86,525.00 16,924.00
Less: Provisions for Deferred Tax (7,288.00) 8,280.00
Profit after Tax 367,746.70 2,025.00
Balance of Profit brought forward 130,190.00 128,165.00
Balance Carried to Balance Sheet 497,936.70 130,190.00
PERFORMANCE:
During the financial year 2013-14 your Company achieved a turnover of
Rs. 5,189,406.85 with a 168.95% (approx) increase over last year
turnover. Net profit (Post tax) for the year 2013-14 stood atRs.
367,746.70 The Earning per share (EPS) is 0.03.
DIVIDEND:
Your Directors feel that Company should re-invest the profit in the
business and to target growth in the existing business areas. In order
to meet its growing fund requirement and to conserve its resources for
future expansions, the Directors have decided not to recommend the
dividend for the current year.
CONVERSION OF COMPANY INTO A PUBLIC LIMITED COMPANY
During the FY 2012-13, the Company was a Private limited Company.
Subsequently, our Company was converted into a Public limited Company
under the Companies Act, 1956 and the name of the Company was changed
to "Autumn Builders Limited" pursuant to issue of fresh Certificate of
Incorporation consequent upon-change of name on conversion to public
limited Company dated October 15, 2013.
Mr. Deepak Kumar Singh, Managing Director, retires by rotation at the
ensuing Annual General Meeting (AGM) and being eligible, offers himself
for re-appointment.
The Companies Act, 2013 provides for appointment of independent
directors. Sub-section (10) of Section 149 of the Companies Act, 2013
provides that Independent Director shall hold office for a term of up
to five consecutive years on the Board of a company and shall be
eligible for re-appointment on passing a special resolution by the
shareholders of the company. Sub-section 11 states that no independent
director shall be eligible for more than two consecutive terms of up to
five years each. Sub- section (13) states that the provision in respect
of retirement of directors by rotation as defined in sub- sections (6)
and (7) of Section 152 of the Act shall not apply to such independent
directors. Further, appointment of existing Independent Directors as
required by the Companies Act, 2013, also needs to be made as per
Sections 149,150 and 152 read with schedule IV thereto and rules made
thereunder.
Accordingly Mr. Sant Lal Goel (holding DIN - 01930453), Mr. Punit
Parasramka (holding DIN -02794913), and Mr. Vikash Agarwal (holding DIN
- 06405191), existing Independent Directors of the company, are
proposed to be appointed as Independent Director of the Company, not
liable to retires by rotation, for a term up to 31st March,2019.
The Company has received requisite notices in writing from members in
terms of Section 160 of the Companies Act, 2013 proposing Mr. Sant Lal
Goel, Mr. Punit Parasramka and Mr. Vikash Agarwal for appointment as
Independent Directors.
The Company has received declarations from all the Independent
Directors of the Company confirming that they meet with the criteria of
independence as prescribed both under sub-section (6) of Section 149 of
the Companies Act, 2013.
The brief resume of the aforesaid Directors and other information have
been detailed in the Notice. Yours Directors recommend their
appointment as Directors of your company.
AUDITORS:
M/s Alfa Daga & Associates, Chartered Accountants, Statutory Auditors
of the Company, retire at the conclusion of the ensuing Annual General
Meeting of the Company. They have offered themselves for re-appointment
as Statutory Auditors and have provided a certificate that their
re-appointment, if made, will be in conformity with the provisions of
Section 224(1B) of the Companies Act, 1956. The Board of Directors and
the Audit Committee recommend their appointment for the ensuing year.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to the requirement of Section 217(2AA) of the Companies Act,
1956 with respect to Directors'' Responsibility Statement, the Directors
hereby confirm that:-
(i) in the preparation of the annual accounts for the year ended 31st
March, 2014, the applicable accounting standards read with requirements
set out under Schedule VI to the Companies Act, 1956, have been
followed and there are no material departures from the same;
(ii) 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 as at the end of the financial year and of the profit of
the Company for that period;
(iii) the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of the Companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities
;and
(iv) the Directors have prepared the annual accounts of the Company on
a ''going concern'' basis.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As required under Clause 52 of the Listing Agreement to be entered into
with Bombay Stock Exchange Ltd., Management Discussion and Analysis
Report is presented in the separate section and forms an integral part
of the Directors Report.
CORPORATE GOVERNANCE
Your Company has taken adequate steps to adhere to all the stipulations
laid down in Listing Agreement. A detailed report on the Corporate
Governance in compliance with Listing Agreement is presented as a part
of the Annual Report. A Certificate from the Auditor on the compliance
with Corporate Governance requirements by your Company is attached to
the Report on Corporate Governance.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
The provisions of Section 217 (1) (e) of the Companies Act, 1956 and
the Companies (Disclosure of Particulars in the report of Board of
Directors") Rules, 1988 regarding conservation of energy and technology
absorption are not applicable. Therefore the information relating to
conservation of energy or technology absorption etc is not given. There
has been no foreign exchange earnings and outgo during the year under
report.
HUMAN RESOURCES:
There are no employees as on date on the rolls of the Company who are
in receipt of Remuneration which requires disclosures under Section 217
(2A) of the Companies Act, 1956 and Companies (Particulars of
Employees) Rules, 1975.
During the year under review, relationship with the employees is
cordial.
LISTING ON SME PLATFORM
Your Directors are pleased to inform you that the Company''s securities
have now been listed on the ITP Platform of BSE Limited on April 14,
2014 and the Company has paid listing fee to the Exchange for the year
2013-14.
CONSOLIDATED FINANCIAL STATEMENTS
Since there is no subsidiary of the Company at present, hence no
consolidated financial statements have been prepared.
PUBLIC DEPOSITS
During the year under review, the Company has not accepted or renewed
any fixed deposits from the public.
ACKNOWLEDGEMENT:
Your Directors place on record their appreciation of the support
extended by its Employees, Bankers, Customers and various Government
Agencies. The Board also wishes to thank the shareholders for their
unstinted support.
By order of the Board of Directors
Date: 28.05.2014 For Autumn Builders Limited
Place: Kolkata
Deepak Kumar Singh
(Managing Director)
Mar 31, 2011
The Directors present herewith Annual Report of the Company together
with the audited statement of accounts for the year ended 31st March
2011.
FINANCIAL RESULTS
Particulars Current year Previous Year
Profit before / (Loss) Tax 1,12,371 33,788
Less: Provisions for Income Tax 20,833 5,644
Deferred Tax 0 0
Profit after Tax 91,538 28,124
Balance as per last account 24,029 (4,115)
Balance Carried to Balance Sheet 1,15,567 24,029
DIVIDEND
Your Directors regret to not recommend any dividend on Equity Shares
for the year under review in view of the inadequate profit of the
company during the period under review.
YEAR IN FUTURE PROSPECTS
During the year under review the company was unable to attained
achievable profit. Your Directors are looking better. for year in
prospects.
STAFF & LABOUR RELATIONS
None of the employees are covered under section 217(2A) of the
Companies Act, 1956. The industrial climate is congenial and relations
with the workers, staff and officers of the Company are warm and
cordial.''
ENERGY, TECHNOLOGY & FOREIGN EXCHANGE
Since there is no Manufacturing activities carried on by the Company
The particulars in respect of conservation of Energy, technology
Absorption and Foreign Exchange earnings & outgo as required u/s 217
(I) ( c) of the Companies Act, 1956 are not Furnished.
AUDITORS
M/s Rakesh Kumar Agarwal, Chartered Accountants, the Auditors of the
Company shall be retiring at the conclusion of the ensuing Annual
General Meeting and offer himself for re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT-.
Pursuant to Sub Section (2AA) of section 217 of the Companies
(Amendment) Act, 2000 The Board of Directors of the Company hereby
state and 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.
ii) The Directors had selected such accounting Policies and applied
them consistently and made judgment and estimates that are reasonable
and prudent so as to give a true and fan view of the State Affairs of
the company at the end of the Financial Year and of the Profit of the
Company for the period.
iii) The Directors had taken proper and sufficient care for 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 Directors had prepared the Annual Accounts on a going concern
basis.
ACKNOWLEDGEMENTS
The Directors wish to place on record their appreciation for the
co-operation and continued assistance extended by central and State
Governments and all others whose continued support has been a source of
strength to the Company.
BY ORDER OF THE BOARD
AUTUMN BUILDERS PVT. LTD.
Place:- Kolkata
Date:- 1st Day of September, 2011 Director
Mar 31, 2010
The Directors present herewith Annual Report of the Company together
with the audited statement of accounts for the year ended 31st March
2010.
FINANCIAL RESULTS
PARTICULARS Current Year Previous Year
Profit before/(Loss) Tax 33,788 (4,115)
Less;- Provisions for
Income Tax 5,644 0
Fringe Benefit Tax 0 0
Deferred Tax 0 0
Profit after Tax 28,144 (4,155)
Balance as per last account (4,115) 0
Balance Carried to Balance Sheet 24,029 (4,115)
DIVIDEND
Your Directors regret to not recommend any dividend on Equity Shares
for the year under review in view of the inadequate profit of the
company during the period under review.
YEAR IN FUTURE PROSPECTS
During the year under review the company was unable to attained
achievable profit. Your Directors are looking better for year in
prospects.
STAFF & LABOUR RELATIONS
None of the employees are covered under section 217(2A) of the
Companies Act, 1956. The industrial climate is congenial and relations
with the workers, staff and officers of the Company are warm and
cordial.
ENERGY, TECHNOLOGY & FOREIGN EXCHANGE
Since there is no Manufacturing activities carried on by the Company,
The particulars in respect of conservation of Energy, technology
Absorption and Foreign Exchange earnings & outgo as required u/s 217
(I) ( c) of the Companies Act, 1956 are not Furnished.
AUDITORS
M/s S.K.Thakur & Associates , Chartered Accountants, the Auditors of
the Company shall be retiring at the conclusion of the ensuing Annual
General Meeting and offer himself for re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT:-
Pursuant to Sub Section (2 AA) of section 217 of the Companies
(Amendment) Act, 2000 The Board of Directors of the Company hereby
state and 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.
ii) The Directors had selected such accounting Policies and applied
them consistently and made judgment and estimates that are reasonable
and prudent so as to give a true and fair view of the State Affairs of
the company at the end of the Financial Year and of the Profit of the
Company for the period.
iii) The Directors had taken proper and sufficient care for 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 Directors had prepared the Annual Accounts on a going concern
basis.
ACKNOWLEDGEMENTS
The Directors wish to place on record their appreciation for the
co-operation and continued assistance extended by central and State
Governments and all others whose continued support has been a source of
strength to the Company.
BY ORDER OF THE BOARD
Autumn Builders Pvt. Ltd
Place :- Kolkata
Date :- 1st Day of September, 2010 Director
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