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Directors Report of Bell Agromachina Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting their 25thAnnual Report on the business and operations of the Company for the year ended 31stMarch, 2014.

1. FINANCIAL RESULTS (Amt in Lacs)

PARTICULARS 31.03.2014 31.03.2013

Total Income 8.188 14.91

Depreciation 0.694 0.807

Profit before tax 0.518 (13.159)

Provision for tax –F& T 0.117 -

Profit (Loss) after tax 0.402 (13.178)

Prior period adjustments - -

Balance brought forward (347.80) (334.62)

Balance carried to balance Sheet (347.40) (347.80)



2. REVIEW OF OPERATIONS:

The Company has made Profits of Rs. 40120 during the financial year. The scope for development has come down drastically. However, it does not affect its status as a going concern as the Company continues to look for various other business opportunities.

3. DIVIDEND:

During the year under review, owing to the accumulated losses, the Directors do not recommend any dividend.

4. DEPOSITS:

During the year under review, the Company has not invited or accepted any Deposits from the public.

5. DIRECTORS :

Mr. S. G. Bellad who retire by rotation being eligible offers themselves for re-appointment at the ensuing Annual General meeting.

The Board recommends appointment of Mr. V G Hiremath, Mr. Ashvin Thumar, Mr. Saurab Rathod and Smt. Meena Umachagi as Independent Directors not liable to retire by rotation for 3 consecutive years for a term upto 31stMarch, 2017.

The Company has received requisite notices in writing from members proposing Mr. V G Hiremath, Mr. Ashvin Thumar, Mr. Saurab Rathod and Smt. Meena Umachagi for appointment of Independent Directors in terms of the requirement of Companies Act, 2013.The Company has received declaration from all the Independent Directors of the Company confirming that they meet with criteria of Independence as prescribed under sub-section (6) of section 149 of the Companies Act, 2013 and under clause 49 of the Listing Agreements with the Stock Exchanges.

None of the Directors of your Company is disqualified under Section 162 (2) of the Companies Act, 2013. As required by law, this position is also reflected in the Auditors'' Report.

6. AUDITORS & AUDITOR''S REPORT:

The Board recommends the appointment of M/s. Mohandas & Co., Chartered Accountants, as statutory auditors of the Company for the years ending from March 31, 2015 upto March 31, 2018 in place of Gupta Saharia & Co., Chartered Accountants. They have also confirmed their appointment shall be within the limits prescribed under Section 141(3)(g) of the Act and it is not disqualified to be appointed as statutory auditor in terms of the provisions of the proviso to Section 139(1), Section 141(2) and Section 141(3) of the Act and the provisions of the Companies (Audit and Auditors) Rules, 2014.

Necessary Resolutions for their appointment have been passed.

There are no adverse observations made by the Auditors in their Report.

7. SUBSIDIARIES:

Since the Company has no subsidiaries, provision of Section 212 of the Companies Act, 1956 is not applicable.

8. AUDIT COMMITTEE:

Audit Committee is consisting of Mr. Vijay Hiremath- Chairman, Mr. S G Bellad and Mrs. Meena Umachagi as Members of the Audit Committee.

9. SHAREHOLDERS AND INVESTOR GRIEVANCE COMMITTEE:

Shareholders and Investor Grievance Committee is consisting of Mr. Shivaputra Guruputrappa Bellad – Chairman, Mr. V G Hiremath and Mrs. Meena Umachagi as Members of the Shareholders and Investors Grievance Committee.

10. COMPLIANCE CERTIFICATE:

The Company has obtained Compliance Certificate pursuant to provisions of Section 383A of the Companies Act, 1956 from a Practicing Company Secretary and is annexed hereto and forming part of this report.

11. DIRECTOR''S RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors Responsibilities Statement, it is hereby confirmed:

a) that in the preparation of the annual accounts for the financial year ended 31st March, 2014 the applicable accounting standards had been followed along with proper explanation relating to material departures.

b) that the directors has selected such accounting policies and applied them consistently and made judgments and estimates that were 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 or loss of the Company for the year review.

c) that the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities, and,

d) The Directors had prepared the accounts for the financial year ended 31st March, 2014 on a going concern basis.

12. STATEMENTS OF PARTICULARS UNDER COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:

Information in accordance with the provisions of Section 217(1)(e) of the Act read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, regarding Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo is not applicable in case of your Company.

13. FOREIGN EXCHANGE:

During the year under review, there were no foreign exchanges Earnings or outgo.

14. STOCK EXCHANGES:

The Company''s shares are listed on the following Stock Exchanges:

a) BSE Limited.

b) Bangalore Stock Exchange Limited.

The Company has received an approval from BSE Limited vide its letter no. 20130731-16- dated 31st July, 2013 for its revocation of suspension of trading in Equity shares of the Company .The shares of the company are freely traded on BSE Ltd.

The company has also submitted an application for delisting its shares from Bangalore Stock Exchange Limited.

15. PARTICULARS OF EMPLOYEES:

The Company has no employee in the category specified under Section 217(2A) of the Companies Act, 2013.

16. CORPORATE GOVERNANCE:

The Corporate Governance Report forms an integral part of this Report and is set out as separately in this Report. The Certificate of the Auditors of the Company certifying compliance with the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement with Stock Exchanges is annexed with the Report on Corporate Governance.

17. HUMAN RESOURCES:

Progressive policies to encourage excellence both in individual and team spirit are in place.

18. WHISTLE BLOWER POLICY AND VIGIL MECHANISM:

Your Company recognizes the value of transparency and accountability in its administrative and management practices. The Company promotes the ethical behavior in all its business activities. The Company has adopted the Whistle blower Policy and Vigil Mechanism in view to provide a mechanism for the directors and employees of the Company to approach Audit Committee of the Company to report existing/probable violations of laws, rules, regulations or unethical conduct.

19. ACKNOWLEDGEMENTS:

Your Directors wish to place on record their appreciation for the assistance and co-operation received from the Company''s Bankers, Government Agencies, Financial Institutions, Customers, Investors and Business constituents and look forward to maintain the same in future.

By the Order of the Board For BELL AGROMACHINA LTD.

S G Bellad Place:Mumbai Chairman Date:14.08.2014 Din: 02547125


Mar 31, 2013

The Directors have pleasure in presenting their 24th Annual Report on the business and operations of the Company for the year ended 31st March, 2013.

WORKING RESULTS

(Amount in Rs.)

2012-2013 2011-2012

Particulars

Total Income 1,491,000 2,051,790

Depreciation 80,654 47,013

Profit before tax (1315925) 277,620

Provision for tax –F&

Profit (Loss) after tax (1,317,878) 277,620.00

Prior period adjustments

Balance forward brought forward (33,462,343) (33,739,963)

Balance carried to balance Sheet (34,780,222) (33,462,343)

1. FINANCIAL RESULTS & OPERATIONS:

Accounting year 2012-2013 is the 24th year of operation. During the year under review, no manufacturing activities were carried out. However, a small amount of trading activities were carried out during the year. In view of this, the company has continued to incur losses. The management is putting every effort to come out of the red. The Company is in the process of restructuring the capital of the Company as well as the possibility of merging with some healthy and profitable units.

2. DIVIDEND:

During the year under review, owing to the accumulated losses, the Directors do not recommend any dividend.

3. FIXED DEPOSITS:

During the year under review, the Company has not invited or accepted any Fixed Deposits from the public.

4. DIRECTORS :

Mr. S G Bellad Director of the Company who retires by rotation being eligible offers themselves for re-appointment as directors of the Company. Mr. Ashvin Thumar and Mr. Saurabh Rathod were appointed as Additional Directors of the Company and pursuant to the provisions of the Companies Act, 1956 they are appointed as directors of the Company and eligible to retire by rotation.

5. AUDITORS:

The existing Auditors H. N. Adinavar & Co. , Chartered accountants retires at the ensuing Annual General Meeting and have signified their unwillingness to be appointed as Auditors in the current year. It is proposed by the Board to appoint of M/S Gupta Saharia & Co,

Chartered Accountants, as Statutory Auditors of the Company in place of the retiring Auditors. Members are requested to appoint M/s. Gupta Saharia & Co, Chartered Accountants as Statutory Auditors of the Company.

6. AUDITOR''S REPORT:

There are no adverse observations made by the Auditors in their Report.

7. AUDIT COMMITTEE:

Audit Committee is consisting of Mr. Vijay Hiremath - Chairman, Mr. Ashvin Thumar and Mrs. Meena Umachagi as Members of the Audit Committee.

8. SHAREHOLDERS AND INVESTOR GRIEVANCE COMMITTEE:

Shareholders and investor Grievance Committee is consisting of Mrs. Meena Umachagi - Chairman, Mr. Ashwin Thumar and Mr. S G Bellad as members of the committee.

9. COMPLIANCE CERTIFICATE:

The Company has obtained Compliance Certificate pursuant to provisions of Section 383A of the Companies Act, 1956 from a Practicing Company Secretary and is annexed hereto and forming part of this report.

10. DIRECTOR''S RESPONSIBILITY STATEMENT:

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

a) In the presentation of the Annual Accounts, the applicable Accounting Standards except revised AS 15 applicable for Accounting Treatment for Gratuity, Leave Encashment and other Retirement Benefits have been followed and that no material departures except to the extent disclosed have been made from the same;

b) The Directors had selected such Accounting policies and applied them consistently and 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 or loss of the Company for that period;

c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities, and,

d) The Directors had prepared the Annual Accounts on a going concern basis.

11. STATEMENTS OF PARTICULARS UNDER COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:

Information in accordance with the provisions of Section 217(1)(e) of the Act read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, regarding Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo is not applicable in case of your Company.

12. STOCK EXCHANGES:

The Company''s shares are listed on the following Stock Exchanges:

a) BSE Limited.

b) Bangalore Stock Exchange Limited.

The suspension of Trading in Equity Shares of the Company has been revoked by BSE Limited on July 18, 2013 as result the Equity Shares of the Company are listed on BSE Limited and the listing fees in respect thereof has already been paid.

13. PARTICULARS OF EMPLOYEES:

The Company has no employee in the category specified under Section 217(2A) of the Companies Act, 1956.

14. FOREIGN EXCHANGE:

During the year under review, there were no foreign exchanges Earnings or outgo.

15. CORPORATE GOVERNANCE:

The Corporate Governance Report forms an integral part of this Report and is set out as separately in this Report. The Certificate of the Auditors of the Company certifying compliance with the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement with Stock Exchanges is annexed with the Report on Corporate Governance.

16. HUMAN RESOURCES:

Progressive policies to encourage excellence both in individual and team spirit are in place.

17. ACKNOWLEDGEMENTS:

Your Directors wish to place on record their appreciation for the assistance and co-operation received from the Company''s Bankers, Government Agencies, Financial Institutions, Customers, Investors and Business constituents and look forward to maintain the same in future.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Place : Hubli Sd/- Sd/-

Mr. S.G.Bellad Mrs. Meena Umachagi

Date : 3 August, 2013 Director Director


Mar 31, 2012

The Directors have pleasure in presenting their 23rd Annual Report on the business and operations of the Company for the year ended 31st March, 2012.

WORKING RESULTS

(Amount in lakhs)

Particulars 31-03-2012 31-03-2011

Total Income 20,51,790.00 19,66,736.00

Depreciation 47,013.00 50,825.17

Profit before tax 2,77,62.00 2,66,376.83

Provision for tax -F & T - -

Profit (Loss) after tax 2,77,620.00 2,66,376.83

Prior period adjustments - -

Balance forward brought forward (33,739,963.30) (34,006,340.13)

Balance carried to balance Sheet (33,462,343.30) (33,739,963.30)

1. FINANCIAL RESULTS & OPERATIONS:

Accounting year 2011-2012 is the 23rd year of operation. During the year under review, no manufacturing activities were carried out. However, a small amount of trading activities was carried out during the year. In view of this, the company has continued to incur losses. The management is putting every effort to come out of the red. The Company is in the process of restructuring the capital of the Company as well as the possibility of merging with some healthy and profitable units.

2. DIVIDEND:

During the year under review, owing to the accumulated losses, the Directors do not recommend any dividend.

3. FIXED DEPOSITS:

During the year under review, the Company has not invited or accepted any Fixed Deposits from the public.

4. DIRECTORS :

Mrs. Meena Umachagi Director of the Company who retires by rotation being eligible offers themselves for re-appointment as directors of the Company.

5. AUDITORS:

M/s. H N ADINAVAR, Chartered Accountants as the Statutory Auditors of the Company. The Board recommends the reappointment of M/s. H N Adinavar, Chartered Accountants, as the auditors of the Company for the financial year 2010-11, who have also confirmed that their appointment shall be within the limits prescribed under Section 224 (1B) of the Companies Act, 1956. Necessary Resolutions for their appointment has been proposed for the consideration of the Members of the Company.

6. AUDITOR'S REPORT:

There are no adverse observations made by the Auditors in their Report.

7. AUDIT COMMITTEE:

Audit Committee is consisting of Shri Vijay Hiremath- Chairman, Shri. S G Bellad and Mrs. Meena Umachagi as Members of the Audit Committee.

8. SHAREHOLDERS AND INVESTOR GRIEVANCE COMMITTEE:

Shareholders and Investor Grievance Committee is consisting of Shri Shivaputra Guruputrappa Bellad - Chairman, Shri. Shri. V G Hiremath and Mrs. Meena Umachagi as Members of the Shareholders and Investors Grievance Committee.

9. COMPLIANCE CERTIFICATE:

The Company has obtained Compliance Certificate pursuant to provisions of Section 383A of the Companies Act, 1956 from and is annexed hereto.

10. DIRECTOR'S RESPONSIBILITY STATEMENT:

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

a) In the presentation of the Annual Accounts, the applicable Accounting Standards except revised AS 15 applicable for Accounting Treatment for Gratuity, Leave Encashment and other Retirement Benefits have been followed and that no material departures except to the extent disclosed have been made from the same;

b) The Directors had selected such Accounting policies and applied them consistently and 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 or loss of the Company for that period;

c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities, and,

d) The Directors had prepared the Annual Accounts on a going concern basis.

11. STATEMENTS OF PARTICULARS UNDER COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:

Information in accordance with the provisions of Section 217(1)(e) of the Act read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, regarding Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo is not applicable in case of your Company.

12. STOCK EXCHANGES:

The Company's shares are listed on the following Stock Exchanges:

a) Bombay Stock Exchange Limited.

b) Bangalore Stock Exchange Limited.

The Trading in the shares of the Company are presently suspended from both the Stock Exchanges. However, the Company has paid the necessary listing fees to both the Stock Exchanges and has applied for the revocation of suspension of trading in equity shares of the Company.

13. PARTICULARS OF EMPLOYEES:

The Company has no employee in the category specified under Section 217(2A) of the Companies Act, 1956.

14. FOREIGN EXCHANGE:

During the year under review, there were no foreign exchanges Earnings or outgo.

15. CORPORATE GOVERNANCE:

The Corporate Governance Report forms an integral part of this Report and is set out as separately in this Report. The Certificate of the Auditors of the Company certifying compliance with the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement with Stock Exchanges is annexed with the Report on Corporate Governance.

16. HUMAN RESOURCES:

Progressive policies to encourage excellence both in individual and team spirit are in place.

17. ACKNOWLEDGEMENTS:

Your Directors wish to place on record their appreciation for the assistance and co-operation received from the Company's Bankers, Government Agencies, Financial Institutions, Customers, Investors and Business constituents and look forward to maintain the same in future.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Place: Hubli Sd/- Sd/-

Date: 13th August 2012 Director Director


Mar 31, 2011

The Directors have Pleasure in Presenting the 22nd Annual Report together with audited statement of accounts for the year ended 31st March, 2011

WORKHNG RESULTS (Amount in Rs)

Particulars 31-3-2011 31-03-2010

Total Income 19,66,736.00 11,65,780.00

Depreciation 94,263.74 91,576.88

Profit before Tax (1,91,89,104.38) (1,92,27,748.60)

Provision for Tax-FBT - -

Profit (loss) after Tax (1,91,89,104.38) (1,92,27,748.60)

Prior Period Adjustments - -

Balance brought forward - -

Balance carried to Balance Sheet (1,91,89,104.38) (1,92,27,748.60)

OPERATIONS AND FUTURE PLANS :

The operations for the year under review show a loss (Before Tax) of Rs. 38,644.26 Previous upto date loss carried forward Rs.1,91,89,104.38.

The Company has not been active for the past seven years due to a severe financial crisis, for the past three years the Company was in the process of gradually liquidating all debts with various Banks and Financial institutions. Your Directors are glad to report that during the year under review the Company has closed all loans and is a debt free company from this year. The entire amounts required for closing the debts was bought in by the directors and is reflected as unsecured loans in the Balance Sheet. The Directors feel that having addressed the issue of clearing the debts, it is and appropriate time to start planning for the future. It is sincere intention of the Directors to bring value to the Shareholders. But the current economic environment being what it is we will have to choose our path with care and caution.

Your Directors are pleased to report that a study for the revival of the Company is already commissioned and is underway. The assignment has been entrusted to a reputed consultancy organization who will examine the feasibility including the strategy. It is expected that the launch could be sometime in 1* May 2011

Your Directors are also looking and examining other business options and other good vi- able opportunities, where some value and synergies can be perceived. It is our Objective that we commence activities in other products and consolidate--. We would like to see that Company is enroute to generating a healthy top line and bottom line from -1.4.2010 onwards.

DIVIDEND:

Since the Company could not generates any profits, management does not propose any dividend for the year 2010-2011

DIRECTORS :

Mr V G Hiremath retire at the ensuring Annual General Meeting, and being eligible offers themselves for reappointment, and hold office till the date of Annual General Meeting. Notices are received for their re-appointment at the Annual General Meeting. 30.09.2011

DIRECTORS' RESPONSIBILITY STATEMENT:

Your Directors State:

i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanations relating to material departure;

ii) that the Directors had selected such accounting policies and applied them consistently and made judgements and estimates that at 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 the loss of the Company for the period;

iii) That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safe- guarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) That the Directors had prepared the annual accounts on going concern basis.

FIXED DEPOSITS :

Your company has neither invited nor accepted any Fixed Deposits from the public during the financial year under review.

CORPORATE GOVERNANCE ABD COMPLIANCE CERTIFICATE :

Separate notes on Corporate Governance and Management Discussion and Analysis Re- port are set out as Annexure "A" and "B" respectively. A Certificate from the Auditor of the Company certifying compliance conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is attached to this report.

LISTING AGREEMENTS REQUIREMENTS :

The securities of your company are listed at Mumbai and Bangalore Stock Exchanges. Trading in company's securities remain suspended at Stock Exchanges for various reasons including non-submission of documents and all possible steps are being taken by the management to get shares traded at the floor of the Exchange.

BUY-BACK OF SHARES:

There was no buy-back of shares during the year under review.

PARTICULARS OF THE EMPLOYEES :

None of the employees employed during the year was in receipt of remuneration in excess of the Prescribed limit specified in section 217 (2A) of the Companies Act, 1956 Hence, furnishing of particulars under the Companies (Particulars of Employees) 1975 does not arise.

AUDITORS:

Mr H N Adinavar, Hubli Auditors of the Company retire at the ensuing Annual General Meeting. They have expressed their willingness for reappointment.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION :

During the year under review, there were no activities, which required heavy consumption of energy. However adequate measures have been taken to make sure that there is no wastage of energy. Since the requisite information with regard to the conservation of energy, technology absorption (Disclosures of Particulars in the report of Board of Directors) Rules is irrelevant/not applicable to the company during the year under review, the same are not reported.

FOREIGN EXCHANGE EARNINGS AND OUTGO:

--- NIL ---

ACKNOWLDGEMENTS:

The Board of Directors wish to place on record their appreciation for the co-operation and support of the Company's Bankers, its valued customers, employees and all other intermediaries concerned with the company's business.

Your directors sincerely thank all members for supporting us during the difficult days. We look forward to your continued support and reiterate that we are determined to ensure that the plans are successfully implemented.

Place: HUBLI For Bell Agromachina Ltd

Date: 18.08.2011 Sd /-

Director


Mar 31, 2010

The Director have pleasure in presenting their 21th Annual General Report together with the Audited Statement of Accounts for the period ended 31st March 2010.

Financial Results:

2009-2010 2008-2009

Profit before Depreciation and taxes (In Lakhs) (In Lakhs)

Depreciation - -

Brought Forward (Profit+/Loss) - -

Profit before tax - -

Provision for tax Nil Nil

Profit carried to Balance Sheet - -

Dividend :

During the twelve months period under review, the company did not able to do any turnover. Your director regret that they are not in a position to recommend any dividend for the year under review as there is a huge loss.

The company did not make the profits because market for Agricultural Machinery is worst affected for high cost implements. The supply of spares of Rotary Harrows and diggi, which are not available to develop indegeneously, had some problems The business for the year was not encouraging and the Directors have got hope that the production will strat in the coming year. The total implements market it self in dolldrums becouse of contineause drought and roadside manufactures in the competetion.

Operation :

The company has become in active since one year and the company is not able to function properly as the market for the agricultural machinery is not encouraging even to revive the business. Efforts of the Directors over the years have not found any concrete improvement and the company changed its the objects clause of the Memorandum of Association to bring in Software business for which the company is slowly building the necessary infrastructure and the establishment of a software technology park in Hubli and the revival of the software markets should give a boost to this business.

Directors Responsibility Statement;

In terms of Section 217 (2AA) of the Companies Act, 1956 and for the financial year from 1-4-2009 to 31-3-2010, the Directors hereby state as follows :

1. In the preparation of annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures-

2. The Directors had selected such accounting policies and applied them consistently and made judgements 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 and of the profit or 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 provisions of the Companies Act, 1956.

4.. The Directors had prepared the annual accounts on going concern basis.

Fixed Deposits:

During the period the company has not received any fixed deposit as per companies Act 1956.

Conservation of Energy, Technology Absorption :

The prescribed information in respect of Foreign exchange earned and amount to go on conservation of energy and technology absorption as per Sec. 217 (1) (e) of the companies Act 1956, read with companies (disclosure of particulars in the Reports of Board of Directors) Rules, 1988 is as follows. The Company continous its efforts to improve methods of energy conservation and utilisation. As regards technology it presently manufactures with collaborators technical knowhow and continoues its development in the country.

Insurance:

The company has no properties and assets on this date

Directors :

Under Articles of the Article of Association of th company Mr. S. G. Bellad retire by rotation at the 21st Annual General Meeting and being eligible to offer themselves for re-appointment.

Buyback:

There are no buy back transactions and hence no defaults are committed by the company.

Auditors :

M/s. H. N. Adinavar & Co. Chartered Accountants, Hubli retires at the ensuring Annual General Meeting as per Companies Act 1956 and are eligible for re-appointment.

Particuiers of Employees :

Particulers of employees U/s. 217 (2A) read with the Companies (Particuiers of Employees) Rules 1975 are not given as there are no such employees.

Industrial Relations :

Relation between the Employees and the management continued to remain co- ordial during the year under review. The Directors hereby place on record their appreciation of the efficient and loyal services at all levels in developing companys growth. As there are no employees presently except one dark.

Acknowledgement:

The Directors wish to place on record their sincere thanks to the bankers, employees for the confidence imposed on the company for their full co-operation and support in development of the company. Company is not able to get company secretary and it is trying to fill up the vacancy.

Hubli For and on behalf of the Board Directors 18th Aug. 2010 Sd/- Sd/-

Meena Umachagi S.G.Bellad (Director) (Executive Director)

 
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