Jun 30, 2014
Dear Shareholders,
The Directors have pleasure in presenting herewith the 17th Annual
Report on the business of Your Company together with the Audited
Accounts for the financial year ended 30th June, 2014.
FINANCIAL PERFORMANCE:
The Company has been in the process of developing solutions. Some of
applications have been given to customers to explore the marketing
possibilities. On successful launch of any application generating
revenues will start. Till then the spending on the applications is
being treated as an expense.
DIVIDEND:
The Directors do not recommend any dividend for the year 2013-14.
DIRECTORS:
Pursuant to provisions of Section 149 and other applicable provisions
of the Companies Act, 2013 read with Rules thereon, Mr. Katari Venkata
Narasimha Raju, Mr. Surampudi Pavan Nandan, Mr. Dutta Chandra Subhash
and Mr. Aareti Chandra Sekhar, Independent Directors of the Company
are seeking fresh appointment for five consecutive years commencing
from the ensuing Annual General Meeting.
PERSONNEL:
The relations between the management and the staff were very cordial
throughout this year. Your Directors take this opportunity to record
their appreciation for the co-operation and loyal services rendered by
the employees.
AUDITORS:
Pursuant to the provisions of Section 139(2) of the Companies Act,
2013, on rotation of audit firms, and based on the recommendation of
the Audit Committee, the Board recommends the reappointment of M/s.
Venkata Pavan Kumar & Co., Chartered Accountants, as the Statutory
Auditors of the Company to hold office from conclusion of this Annual
General Meeting for a period of 3 years in accordance with the Act,
subject to the ratification of shareholders at every Annual General
Meeting. M/s. Venkata Pavan Kumar & Co., Chartered Accountants, have
confirmed that the appointment, if made, would be within the
prescribed limits under Section 141 of the Companies Act, 2013.
Accordingly, the appointment of M/s. Venkata Pavan Kumar & Co.,
Chartered Accountants, as the Statutory Auditors, is being proposed as
an Ordinary Resolution.
DEPOSITS:
The Company has not accepted any deposits during the year.
INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956:
None of the employees are drawing remuneration exceeding limits
prescribed U/s 217 (2A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 Your Directors
confirm that:
i. In preparation of annual accounts for the financial year ended 30th
June, 2014 the applicable Accounting Standards have been followed;
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 true and fair view of the state of affairs
of the Company at the end of the financial year ended 30th June, 2014
and of the profit and loss of the Company for the year;
iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Company 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 on a Âgoing
concern'' basis. PARTICULARS OF EMPLOYEES:
In pursuance of the provisions of section 217(2A) of the Companies
Act, 1956 read with the Companies(Particulars of Employees) Rules
1975, the directors are to report that no employee was in receipt of
remuneration of Rs.60,00,000/- or more per annum or Rs.5,00,000/- or
more per month if employed for a part of the year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO:
During the period under review there are no operations which require
to be disclosed under this head as per the provisions of the Companies
Act, 1956.
MANAGEMENT DISCUSSION & ANALYSIS
Management''s Discussion and Analysis Report is enclosed to this
report as Annexure-B.
CORPORATE GOVERNANCE:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement entered with the BSE. Report on Corporate Governance
including Auditor''s Certificate on compliance with the code of
Corporate Governance under Clause 49 of the listing agreement is
enclosed as An-nexure - C to this report.
ACKNOWLEDGEMENTS:
Your Directors wish to express their gratitude to the Central and
State Governments, investors, analysts, financial institutions, banks,
business associates and customers, the medical profession,
distributors and suppliers for their whole-hearted support. Your
Directors commend all the employees of your Company for their
continued dedication, significant contributions, hard work and
commitment
For and on behalf of the Board
Sd/-
Place : Hyderabad N.V.Rama Raju
Date : 14-11-2014 Managing Director
Jun 30, 2013
Dear Shareholders,
The Directors have pleasure in presenting herewith the 16th Annual
Report on the business of Your Company together with the Audited
Accounts for the fnancial year ended 30th June, 2013.
FINANCIAL PERFORMANCE:
The Company has executed some contracts back-to-back. The Company is
also negotiating di- rectly with various companies to get off-shore
contracts.
PARTICULARS OF EMPLOYEES:
In pursuance of the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies(Particulars of Employees) Rules 1975, the
directors are to report that no employee was in receipt of remuneration
of Rs.60,00,000/- or more per annum or Rs.5,00,000/- or more per month
if employed for a part of the year.
DIRECTORS:
Mr. S.Pavan Nandan and Mr. D. Chandra Subash, Directors of the Company
will retire by rotation at the ensuing Annual General Meeting and are
eligible for re-appointment.
PERSONNEL:
The relations between the management and the staff were very cordial
throughout this year. Your Directors take this opportunity to record
their appreciation for the co-operation and loyal services rendered by
the employees.
AUDITORS:
The Statutory Auditors of the Company, M/s.Venkata Pavan Kumar & Co.,
Chartered Accoun- tants, retire at the conclusion of the forthcoming
Annual General Meeting and are eligible for re-appointment. The Audit
Committee and the Board recommend the re-appointment of M/s. Ven- kata
Pavan Kumar & Co., Chartered Accountants, as Statutory Auditors of your
Company.
DEPOSITS:
The Company has not accepted any deposits during the year.
INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956:
None of the employees are drawing remuneration exceeding limits
prescribed U/s 217 (2A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 Your Directors
confrm that:
i. In preparation of annual accounts for the fnancial year ended 30th
June, 2013 the appli- cable Accounting Standards have been followed;
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 true and fair view of the state of affairs of
the Company at the end of the fnancial year ended 30th June, 2013 and
of the proft and loss of the Company for the year;
iii. The Directors have taken proper and suffcient care for the
maintenance of adequate ac- counting records in accordance with the
provisions of the Company Act 1956, for safe- guarding the assets of
the Company and for preventing and detecting fraud and other
irregularities; and
iv The Directors have prepared the annual accounts on a Âgoing concern''
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARN-
INGS AND OUTGO:
During the period under review there are no operations which require to
be disclosed under this head as per the provisions of the Companies
Act, 1956.
MANAGEMENT DISCUSSION & ANALYSIS
Management''s Discussion and Analysis Report is enclosed to this report
as Annexure-A.
CORPORATE GOVERNANCE:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement entered with the BSE. Report on Corporate Governance
including Auditor''s Certifcate on compliance with the code of Corporate
Governance under Clause 49 of the listing agreement is enclosed as An-
nexure - B to this report.
ACKNOWLEDGEMENTS:
Your Directors wish to express their gratitude to the Central and State
Governments, investors, analysts, fnancial institutions, banks,
business associates and customers, the medical profes- sion,
distributors and suppliers for their whole-hearted support. Your
Directors commend all the employees of your Company for their continued
dedication, signifcant contributions, hard work and commitment
For and on behalf of the Board
Sd/-
Place : Hyderabad N.V.Rama Raju
Date : 30-08-2013 Managing Director
Jun 30, 2011
Dear Shareholders,
The Directors have pleasure in presenting herewith the 14th Annual
Report on the business of Your Company together with the Audited
Accounts for the financial year ended 30th June, 2011.
FINANCIAL PERFORMANCE:
The Company has executed some contracts on back-to-back. The Company is
also negotiating directly with various companies to get off-shore
contracts.
PARTICULARS OF EMPLOYEES:
In pursuance of the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies(Particulars of Employees) Rules 1975, the
directors are to report that no employee was in receipt of remuneration
of Rs.60,00,000/- or more per annum or Rs.5,00,000/- or more per month
if employed for a part of the year.
DIRECTORS:
Mr.S.Pavan Nandan and Mr. D. Chandra Subash, Directors of the Company
will retire by rotation at the ensuing Annual General Meeting and are
eligible for re-appointment.
PERSONNEL:
The relations between the management and the staff were very cordial
throughout this year. Your Directors take this opportunity to record
their appreciation for the co-operation and loyal services rendered by
the employees.
AUDITORS:
The Statutory Auditors of the Company, M/s.Venkata Pavan Kumar & Co.,
Chartered Accountants, retire at the conclusion of the forthcoming
Annual General Meeting and are eligible for re- appointment. The Audit
Committee and the Board recommend the re-appointment of M/s. Venkata
Pavan Kumar & Co., Chartered Accountants, as Statutory Auditors of your
Company.
DEPOSITS:
The Company has not accepted any deposits during the year.
INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956:
Details of employees drawing remuneration exceeding limits prescribed
U/s 217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975 is attached with the report.
Baron
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 Your Directors
confirm that:
i. In preparation of annual accounts for the financial year ended 30th
June, 2011 the applicable Accounting Standards have been followed;
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 true and fair view of the state of affairs of
the Company at the end of the financial year ended 30th June, 2011 and of
the profit and loss of the Company for the year;
iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Company 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 on a 'going concern'
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO:
During the period under review there are no operations which require to
be disclosed under this head as per the provisions ofthe Companies Act,
1956.
MANAGEMENT DISCUSSION & ANALYSIS
Management's Discussion and Analysis Report is enclosed to this report
as Annexure-A.
CORPORATE GOVERNANCE:
Your Company has complied with the requirements of Clause 49 ofthe
Listing Agreement entered with the BSE. Report on Corporate Governance
including Auditor's Certificate on compliance with the code of Corporate
Governance under Clause 49 of the listing agreement is enclosed as
Annexure - B to this report.
ACKNOWLEDGEMENTS:
Your Directors wish to express their gratitude to the Central and State
Governments, investors, analysts, financial institutions, banks,
business associates and customers, the medical profession, distributors
and suppliers for their whole-hearted support. Your Directors commend
all the employees of your Company for their continued dedication,
significant contributions, hard work and commitment.
For and on behalf of the Board
Sd/-
Place : Hyderabad N.V.Rama Raju
Date : 10.11.2011 Managing Director
Jun 30, 2010
Dear Shareholders,
The Directors have pleasure in presenting herewith the 13th Annual
Report on the business of Your Company together with the Audited
Accounts for the financial year ended 30th June, 2010.
FINANCIAL PERFORMANCE:
The contracts proposed have not materialized during the year under
review.
PARTICULARS OF EMPLOYEES:
In pursuance of the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies(Particulars of Employees) Rules 1975, the
directors are to report that no employee was in receipt of remuneration
of Rs.24,00,000/- or more per annum or Rs.2,00,000/- or more per month
if employed for a part of the year.
DIRECTORS:
Mr. K.V. Narasimha Raju and Mr. A.Chandra Sekhar, Directors of the
Company will retire by rotation at the ensuing Annual General Meeting
and are eligible for re-appointment.
PERSONNEL:
The relations between the management and the staff were very cordinal
throughout this year. Your Directors take this opportunity to record
their appreciation for the co-operation and loyal services rendered by
the employees.
AUDITORS:
The Statutory Auditors of the Company, M/s. Venkata Pavan Kumar & Co.,
Chartered Accountants, retire at the conclusion of the forthcoming
Annual General Meeting and are eligible for re-appointment. The Audit
Committee and the Board recommend the re-appointment of M/s. Venkata
Pavan Kumar & Co., Chartered Accountants, as Statutory Auditors of your
Company.
DEPOSITS:
The Company has not accepted any deposits during the year.
INFORMATION U/S 217(2A) OF THE COMPANIES ACT, 1956:
Details of employees drawing remuneration exceeding limits prescribed
U/s 217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975 is attached with the report.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 Your Directors
confirm that:
i. In preparation of annual accounts for the financial year ended 30th
June, 2010 the applicable Accounting Standards have been followed;
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 true and fair view of the state of affairs of
the Company at the end of the financial year ended 30th June, 2010 and
of the profit and loss of the Company for the year;
iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Company Act 1956, for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities; and
The Directors have prepared the annual accounts on a Ãgoing concern'
basis.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO:
During the period under review there are no operations which require to
be disclosed under this head as per the provisions of the Companies
Act, 1956.
CORPORATE GOVERNANCE:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement entered with the Stock Exchanges. Report on
Corporate Governance including Auditor's Certificate on compliance with
the code of Corporate Governance under Clause 49 of the listing
agreement is enclosed as Annexure to this report.
MANAGEMENT DISCUSSION & ANALYSIS:
The Company has not been carrying on its operations due to lack of
orders except some training programmes. The Company is exploring
various sources to get software contracts.
ACKNOWLEDGEMENTS:
Your Directors wish to express their gratitude to the Central and State
Governments, investors, analysts, financial institutions, banks,
business associates and customers, the medical profession, distributors
and suppliers for their whole- hearted support. Your Directors commend
all the employees of your Company for their continued dedication,
significant contributions, hard work and commitment.
By order of the Board
For BARON INFOETECH LIMITED
Place:Hyderabad SD/
Date: 29.11.2010 N.V.RAMA RAJU
MANAGING DIRECTOR
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