Mar 31, 2015
The Directors have pleasure in presenting their 25th Annual Report on
the business and operations of the Company and the accounts for the
Financial Year ended March 31, 2015.
1. Financial summary or highlights/Performance of the Company
The Board's Report shall be prepared based on the stand alone financial
statements of the company.
Particulars Current Year Previous Year
(Amount in (Amount in
Rs
Gross Income 15,09,813 5,10,200
Profit / (Loss) Before Interest and
Depreciation 10,53,049 (-) 33,92,005
Finance Charges 997 509
Gross Profit 10,52,052 (-) 33,92,514
Provision for Depreciation 387 444
Net Profit Before Tax 10,51,665 (-) 33,92,958
Provision for Tax (-) 1,39,676 0
Net Profit After Tax/Deficit 911,989 (-) 33,92,958
Adjustment for Investments market
value (-) 43,37,750 (-) 63,53,711
Balance of Profit brought forward (-) 4,17,40,983 (-)3,19,94,314
Balance available for appropriation 0 0
Proposed Dividend on Equity Shares 0 0
Tax on proposed Dividend 0 0
Transfer to General Reserve 0 0
"Surplus carried to Balance Sheet (-) 4,51,66,744 (-) 4,17,40,983
2. SHARE CAPITAL
The paid up Equity Share Capital as at March 31, 2015 stood at Rs
5,89,81,000/- (Rupees Five crore Eighty Nine Lakhs and Eighty One
Thousand Only/-). During the year under review the Company has not
issued any fresh share capital.
(a) BUY BACK OF SECURITIES
The Company has not bought back any of its Securities during the year
under review.
(b) SWEAT EQUITY
The company has not issued any sweat equity shares during the year
under review.
(c) BONUS SHARES
No Bonus shares were issued during the year under review.
Id) EMPLOYEE STOCK OPTION PLAN
The Company has not provided any stock scheme to the employee. 3.
DIVIDEND
No Dividend was declared for the current Financial Year due to
insufficient profit.
4. RESERVES:
During the year under review no amount was transferred to any reserves.
5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION
FUND
The provision of section 205C of the Companies Act, 1956 do not apply
as the Company has not declared any dividend in the past.
6. CHANGE IN THE NATURE OF BUSINESS:
There is No Change in nature of Business as compared to last financial
year.
7. CHANGE IN THE NAME AND REGISTERED OFFICE OF THE COMPANY:
There is no change in the Name of the Company and Registered Office
Address of the Company.
8. MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION:
There are no material changes and commitments, affecting the financial
position of the company which has occurred between the end of the
financial year i.e. March 31st, 2015 and the date of the Directors'
report.
9. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There are no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and company's
operations in future:
10. SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:
The Company has no subsidiaries, joint ventures and associate
companies.
11. DEPOSITS
The company has neither accepted nor renewed any deposits during the
financial year under review.
12. EXPLANATION OR COMMENTS ON QUALIFICATIONS. RESERVATIONS OR ADVERSE
REMARKS OF DISCLAIMERS MADE BY THE AUDTIORS AND THE PRACTICING COMPANY
SECRETARY IN THEIR REPORT:
The Auditors' Report does not contain any qualification, reservation or
adverse remark. The Secretarial Audit Report issued by Mrs. Manisha
Gupta, Practising Company Secretary have the following qualification,
reservation or adverse remark:
1. The Company has not appointed Managing Director and Chief Financial
Officer in accordance of the requirement of Section 203 of Companies
act, 2013 read with Rule 8 of Companies (Appointment and remuneration
of managerial personnel) Rules, 2014.
13. DISCLOSURE OF COMPOSITION OF AUDIT COMMETTEE AND PROVIDING VIGIL
MECHANISM
The Provisions of Section 177 of the Companies Act, 2013 read with Rule
6 and 7 of the Companies (Meeting of the Board and its powers) Rule,
2014 is not applicable to the Company. The Audit Committee continued
working under Chairmanship of Mr. A. C. Rekhi with Mr. S. K. Murgai as
co-members. During the year, the sub-committee met on seven occasions
with full attendance of all the members.
The composition of the Audit Committee as at March 31, 2015 and details
of the Members participation at the Meetings of the Committee are as
under:
Name of Category Attendance at Board Meetings held or
Director 28/04/
2014 18/06/
2014 28/07/
2014 26/08/
2014 19/09/
2014 28/10/
2014 24/01/
2015
Mr.A.C. Indepen
dence
Rekh* N.E.D Yes Yes Yes Yes Yes Yes Yes
Mr.S.K. Indepen
dence Yes yes Yes Yes Yes Yes Yes
Murgai N.E.D
14. STATUTORY AUDITORS
M/s Krishan K Gupta & Co., Chartered Accountants, as appointed as
statutory auditors of the Company for a period of one year in the
Annual General Meeting held on 30.09.2014 their continuance of
appointment. The Company has received a certificate from the above
Auditors to the effect that if they are reappointed, it would be in
accordance with the provisions of Section 141 of the Companies Act,
2013
15. EXTRACT OF THE ANNUAL RETURN
The extract of the annual return in Form No. MGT- 9 pursuant to the
provisions of the section 92 read with Rule 12 of the Companies
(Management and Administration) Rule, 2014 is furnished in Annexure-T'
and attached to the report.
16. CONSERVATION OF ENERGY. RESEARCH AND DEVELOPMENT. TECHNOLOGY
ABSORPTION. FOREIGN EXCHANGE EARNINGS AND OUTGO:
Since the Company has no manufacturing activity, directors are not
required to report on "Conservation of Energy", "Research and
Development" and "Technology Absorption".
Further, there was no Foreign Exchange earnings and outgo during the
year under review.
17. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
Mr. V. K. Berlia, Director retires by rotation at the forthcoming
Annual General Meeting and being eligible, offer himself for
reappointment.
18. NO. OF BOARD MEETINGS:
Pursuant to Section 173 (1) of the Companies Act, 2013, Seven meetings
of Board of Directors were held in the year ended 31st March, 2015.
28-04-2014 26-08-2014 24-01-2015
18-06-2014 19-09-2014
28-07-2014 28-10-2014
19. PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS:
Loans, guarantees and investments covered under Section 186 of the
Companies Act, 2013 form part of the notes to the financial statements
provided in this Annual Report.
20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The Company has not entered into any contracts/arrangements with the
Related Parties for the year under review. Thus the provisions of
Section 188 of the Companies Act, 2013 are not attracted. Thus
disclosure in Form AOC-2 is not required. Further, there are no
material related party transactions during the year under review with
the Promoters, Directors or Key Managerial Personnel.
21. RISK MANAGEMENT POLICY. INTERNAL CONTROL SYSTEM AND ITS ADEQUACY:
The company does not have any risk management policy in place, however
there is generally an adequate internal control procedure commensurate
with the size of the company and nature of the Business. Further no
element of risk was identified which in the opinion of the Board may
threaten the existence of the Company.
22. Board Evaluation
The evaluation framework for assessing the performance of Directors
comprises of the following key areas:
i. Attendance of Board Meetings and Board Committee Meetings
ii. Quality of contribution to Board deliberations
iii. Strategic perspectives or inputs regarding future growth of
Company and its performance
iv. Providing perspectives and feedback going beyond information
provided by the management
v. Commitment to shareholder and other stakeholder interests
The evaluation involves Self-Evaluation by the Board Member and
subsequently assessment by the Board of Directors. A member of the
Board will not participate in the discussion of his/her evaluation.
23. DECLARATION OF INDEPENDENT DIRECTORS:
A declaration by Independent Directors that they met the criteria of
independence as provided in sub section (6) of section 149 of the
companies Act, 2013 have been provided by directors.
24. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY COMPANY ON ITS
CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:
The Company has not developed and implemented any corporate Social
Responsibility initiatives as the said provisions are not applicable.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 134 (5) of the Companies Act, 2013, the Directors
confirm that:
a. in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
b. the directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the company as at March 31st, 2015 and of the profit and 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 this Act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities;
d. the directors had prepared the annual accounts on a going concern
basis; and
e. the directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.
25. DISCLOSURE ABOUT COST AUDIT
As per the Cost Audit Orders, Cost Audit is not applicable to the
Company.
26. LISTING WITH STOCK EXCHANGES:
The shares of the company are listed at
Delhi Stock Exchange Limited, DSE House, 3/1, Asaf Ali Road, New
Delhi-110002.
and
Bombay Stock Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalai Street,
Mumbai-400001.
The Annual Listing fee is being paid.
27. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT
WORKPLACE (PREVENTION. PROHIBITION AND REDRESSAL) ACT. 2013
In order to prevent sexual harassment of women at work place a new act
The Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Act, 2013 has been notified on 9th December, 2013. Under
the said Act every company is required to set up an Internal Complaints
Committee to look into complaints relating to sexual harassment at work
place of any women employee.
Company has not adopted a policy for prevention of Sexual Harassment of
Women at workplace and has not set up Committee for implementation of
said policy as there are no employees in the company during the year.
28. CORPORATE GEVERNANCE CERTIFICATE
The Compliance certificate from the auditors regarding compliance of
conditions of corporate governance as stipulated in Clause 49 of the
Listing agreement is annexed with the report.
29. ACKNOWLEDGEMENTS:
Your Directors wish to place on record their sincere thanks to all for
their continued support extended your companies activities during the
year under review. Your Directors also acknowledge gratefully the
shareholders for their support and confidence reposed on you company.
FOR ON BEHALF OF BOARD OF DIRECTORS
BERVIN INVESTMENT & LEASING LIMITED
V. K. BERLIA S. K. MURGAI
Director Director
(DIN : 00196774) (DIN : 00040348)
PLACE : NEW DELHI
DATE : APRIL 27, 2015
Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting their 24th Annual Report
together with audited accounts of your company for the year ended March
31, 2014.
(Figures in Rs. 000)
PERFORMANCE 2013-2014 2012-2013
Gross Income / Deficit 510 1721
Profit / Deficit before Depreciation (-) 3393 1403
Less: Depreciation 0 1
Less: Tax for earlier year - -
Add: Income Tax Adjustment for earlier years 0 10
Profit after tax / Deficit (-) 3393 1412
Less: Adjustment for Investments market value 6354 3317
Balance brought forward (-) 31994 (-) 30089
Balance to Balance Sheet (-) 41741 (-) 31994
DIVIDEND :
The Directors do not recommend Dividend.
DIRECTOR''S RESPONSIBILITY STATEMENT
While preparing the Annual Financial Statements, the company adhered to
the following:-
1) In the preparation of the said Financial Statements, the company has
followed the applicable Accounting Standards, referred to in Section
211 (3-C) of the Companies Act, 1956.
2) The Company has followed the said Accounting Standards and has been
applying them consistently and has made judgments and estimates that
are reasonable, prudent and are in the interest of the Company''s
business, as at March 31,2014 and the profit of the company, for the
said period.
3) The Directors have 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.
4) The Directors have prepared the Financial Statements on a going
concern basis.
CORPORATE GOVERNANCE
Corporate Governance report is attached.
DEPOSITS
The company has not accepted any deposit attracting the provisions of
Sec. 58A of the Companies Act, 1956.
BUSINESS
No leasing business was undertaken. Activity relating to investment
Purchase and Sale is being carried on.
DIRECTORS & AUDITORS
a) Directors: Mr. S. K. Murgai retire by rotation and being eligible,
offer himself for re-appointment.
b) Auditors: M/s. Krishan K Gupta & Co. Chartered Accountants, hold
office until the conclusion of the ensuring Annual General Meeting and
are eligible for re-appointment.
CONSERVATION OF ENERGY
Regarding information as per section 217(1) (e) of the Companies Act,
1956 the Company has no activity relating to Conservation of energy or
technology absorption.
STOCK EXCHANGE
The shares of the company are listed at Delhi Stock Exchange Limited,
DSE House, 3/1, Asaf Ali Road, New Delhi-110002 and Bombay Stock
Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -
400001. The annual listing fee is being paid.
PARTICULARS OF EMPLOYEES
Information in accordance with Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) rules, 1975 is
Nil.
ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation of the sincere
co-operation the company has received from its bankers and associated
personnel.
FOR AND ON BEHALF OF THE
BOARD OF DIRECTORS
A.C.REKHI
Dated: April 28, 2014 Chairman
Place: New Delhi
Mar 31, 2013
The Directors have pleasure in presenting their 23rd Annual Report
together with audited accounts of your company for the year ended March
31, 2013.
(Figures in !000)
PERFORMANCE 2012-2013 2011-2012
Gross Income / Deficit 1721 386
Profit / Deficit before Depreciation 1403 58
Less: Depreciation 1 1
Less: Tax for earlier year - 11
Add: Income Tax Adjustment for earlier years 10 --
Profit after tax / Deficit 1412 46
Less: Adjustment for Investments market value 3317 494
Balance brought forward (-) 30089 (-) 29641
Balance to Balance Sheet (-) 31994 (-) 30089
DIVIDEND :
The Directors do not recommend Dividend.
DIRECTOR''S RESPONSIBILITY STATEMENT
While preparing the Annual Financial Statements, the company adhered to
the following:-
1) In the preparation of the said Financial Statements, the company has
followed the applicable Accounting Standards, referred to in Section
211 (3-C) of the Companies Act, 1956.
2) The Company has followed the said Accounting Standards and has been
applying them consistently and has made judgments and estimates that
are reasonable, prudent and are in the interest of the Company''s
business, as at March 31,2013 and the profit of the Company, for the
said period.
3) The Directors have 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.
4) The Directors have prepared the Financial Statements on a going
concern basis.
CORPORATE GOVERNANCE
Corporate Governance report is attached.
DEPOSITS
The company has not accepted any deposit attracting the provisions of
Sec. 58A of the Companies Act, 1956.
BUSINESS
No leasing business was undertaken. Activity relating to investment
Purchase and Sale is being carried on.
DIRECTORS & AUDITORS
a) Directors: Mr. Ram Avtar Sharma resigned on 30.07.2012 from
Directorship.
Mr. A. C. Rekhi retire by rotation and being eligible, offer himself
for re- appointment.
b) Auditors: M/s. Krishan K Gupta & Co. Chartered Accountants, hold
office until the conclusion of the ensuring Annual General Meeting and
are eligible for re-appointment.
CONSERVATION OF ENERGY
Regarding information as per section 217(1) (e) of the Companies Act,
1956 the Company has no activity relating to Conservation of energy or
technology absorption.
STOCK EXCHANGE
The shares of the company are listed at Delhi Stock Exchange Limited,
DSE House, 3/1, Asaf AN Road, New Delhi-110002 and Bombay Stock
Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai -
400001. The annual listing fee is being paid.
PARTICULARS OF EMPLOYEES
Information in accordance with Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) rules, 1975 is
Nil.
ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation of the sincere
co-operation the company has received from its bankers and associated
personnel.
FOR AND ON BEHALF OF THE
BOARD OF DIRECTORS
A.C.REKHI
Dated: April 29, 2013 Chairman
Place: New Delhi
Mar 31, 2012
The Directors have pleasure in presenting their 22nd Annual Report
together with audited accounts of your company for the year ended March
31, 2012.
(Figures in Rs. 000)
PERFORMANCE 2011-2012 2010-2011
Gross Income / Deficit 386 (-) 139
Profit / Deficit before
Depreciation 58 (-) 556
Less: Depreciation 1 1
Tax for earlier year - -
Profit after tax / Deficit 57 (-) 557
Less: Adjustment for Investments
market value 494 2505
Balance brought forward (-) 29641 (-) 26579
Balance to Balance Sheet (-) 30078 (-) 29641
DIVIDEND :
The Directors do not recommend Dividend,
DIRECTOR'S RESPONSIBILITY STATEMENT
While preparing the Annual Financial Statements, the company adhered to
the following:-
1) In the preparation of the said Financial Statements, the company has
followed the applicable Accounting Standards, referred to in Section
211 (3-C) of the Companies Act, 1956,
2) The Company has followed the said Accounting Standards and has been
applying them consistently and has made judgments and estimates that
are reasonable, prudent and are in the interest of the Company's
business, as at March 31,2012 and the profit of the company, for the
said period.
3) The Directors have 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.
4) The Directors have prepared the Financial Statements on a going
concern basis.
CORPORATE GOVERNANCE
Corporate Governance report is attached.
DEPOSITS
The company has not accepted any deposit attracting the provisions of
Sec. 58A of the Companies Act, 1956.
BUSINESS
No leasing business was undertaken. Activity relating to investment
Purchase and Sale is being carried on.
DIRECTORS & AUDITORS
a) Directors: Mr. V. K. Berfia & Mr. T.S. Grover retire by rotation and
being eligible, offer themselves for re-appointment.
b) Auditors; M/s. Krishan K Gupta & Co. Chartered Accountants, hold
office until the conclusion of the ensuring Annual General Meeting and
are eligible for re-appointment.
CONSERVATION OF ENERGY
Regarding information as per section 217(1) (e) of the Companies Act,
1956 the Company has no activity relating to Conservation of energy or
technology absorption.
STOCK EXCHANGE
The shares of the company are listed at Delhi Stock Exchange Limited,
DSE House, 3/1, Asaf All Road, New Delhi-110002 and Bombay Stock
Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai -
400001. The annual listing fee is being paid.
PARTICULARS OF EMPLOYEES
Information in accordance with Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) rules, 1975 is
Nil.
ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation of the sincere
co-operation the company has received from its bankers and associated
personnel.
FOR AND ON BEHALF OF THE
BOARD OF DIRECTORS
A.C.REKHI
Dated: April 24, 2012 Chairman
Place: New Delhi
Mar 31, 2011
The Directors have pleasure in presenting their 21st Annual Report
together with audited accounts of your company for the year ended March
31, 2011.
(Figures in 000)
PERFORMANCE 2010-2011 2009-2010
Gross Income / Deficit (-) 139 (-) 398
Profit / Deficit before Depreciation (-) 556 (-) 650
Less: Depreciation 1 1
Tax for earlier year - 6
Profit after tax / Deficit (-) 557 (-) 657
Less: Adjustment for investments
market value 2505 20796
Balance brought forward (-) 26579 (-) 46717
Balance to Balance Sheet (-) 29641 (-) 26579
DIVIDEND :
The Directors do not recommend Dividend.
DIRECTORS RESPONSIBILITY STATEMENT
While preparing the Annual Financial Statements, the company adhered to
the following :-
1) In the preparation of the said Financial Statements, the company has
followed the applicable Accounting Standards, referred to in Section
211 (3-C) of the Companies Act, 1956.
2) The Company has followed the said Accounting Standards and has been
applying them consistently and has made judgments and estimates that
are reasonable, prudent and are in the interest of the Companys
business, as at March 31,2011 and the profit of the company, for the
said period.
3) The Directors have 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.
4) The Directors have prepared the Financial Statements on a going
concern basis.
CORPORATE GOVERNANCE
Corporate Governance report is attached.
DEPOSITS
The company has not accepted any deposit attracting the provisions of
Sec. 58A of the Companies Act, 1956.
BUSINESS
No leasing business was undertaken. Activity relating to investment
Purchase and
Safe is being carried on.
DIRECTORS a AUDITORS
a) Directors: Mr. A.C.Rekhi , Mr. S..K. Murgai and Mr. Ramavtar Sharma
retire by rotation and being eligible, offer themselves for
re-appointment.
b) Auditors: M/s. Krishan K Gupta & Co. Chartered Accountants, hold
office until the conclusion of the ensuring Annual General Meeting and
are eligible for re-appointment.
CONSERVATION OF ENERGY
Regarding information as per section 217(1) (e) of the Companies Act,
1956 the Company has no activity relating to Conservation of energy or
technology absorption.
STOCK EXCHANGE
The shares of the company are listed at Delhi Stock Exchange Limited,
DSE House, 3/1, Asaf Ali Road, New Delhi-110 002 and Bombay Stock
Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai -400
001. The annual listing fee has been paid.
PARTICULARS OF EMPLOYEES
Information in accordance with Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) rules, 1975 is
Nil.
ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation of the sincere
co-operation the company has received from its bankers and associated
personnel.
FOR AND ON BEHALF OF
THE BOARD OF DIRECTORS
A.C.REKHI
Dated: April 29, 2011 Chairman
Place: New Delhi
Mar 31, 2010
The Directors have pleasure in presenting their 20Ã Annual Report
together with audited accounts of your company for the year ended March
31, 2010.
(Figures in 000)
PERFORMANCE 2009-2010 2008-2009
Gross Income / Deficit (-) 398 2019
Profit / Deficit before
Depreciation (-) 650 1677
Less: Depreciation 1 1
Tax for earlier year 6 -
Profit after tax / Deficit (-) 657 1560
Less: Adjustment for
Investments market value 20796 (-) 57056
Transfer to General Reserve - -
Balance brought forward (-) 46717 8779
Balance to Balance Sheet (-) 26579 (-) 46718
DIVIDEND :
The Directors do not recommend Dividend.
DIRECTORS RESPONSIBILITY STATEMENT
While preparing the Annual Financial Statements, the company adhered to
the following:-
1) In the preparation of the said Financial Statements, the company has
followed the applicable Accounting Standards, referred to in Section
211 (3-C) of the Companies Act, 1956.
2) The Company has followed the said Accounting Standards and has been
applying them consistently and has made judgments and estimates that
are reasonable, prudent and are in the interest of the Companys
business, as at March 31,2010 and the profit of the company, for the
said period.
3) The Directors have 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.
4) The Directors have prepared the Financial Statements on a going
concern basis.
CORPORATE GOVERNANCE
Corporate Governance report is attached.
DEPOSITS
The company has not accepted any deposit attracting the provisions of
Sec. 58A of the Companies Act, 1956.
BUSINESS
No leasing business was undertaken. Activity relating to investment
Purchase and Sale is being carried on.
DIRECTORS & AUDITORS
a) Directors: Mr. V.K. Berlia & Mr. T.S. Grover retire by rotation and
being eligible, offer themselves for re-appointment.
b) Auditors: M/s. Krishan K Gupta & Co. Chartered Accountants, hold
office until the conclusion of the ensuring Annual General Meeting and
are eligible for re-appointment.
CONSERVATION OF ENERGY
Regarding information as per section 217(1) (e) of the Companies Act,
1956 the Company has no activity relating to Conservation of energy or
technology absorption.
STOCK EXCHANGE
The shares of the company are listed at Delhi Stock Exchange Limited,
DSE House, 3/1, Asaf Ali Road, New Delhi-110 002 and Bombay Stock
Exchange Ltd., Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai - 400
001. The annual listing fee has been paid.
PARTICULARS OF EMPLOYEES
Information in accordance with Section 217 (2A) of the Companies Act,
1956, read with the Companies (Particulars of Employees) rules, 1975 is
Nil.
ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation of the sincere
co-operation the company has received from its bankers and associated
personnel.
FOR AND ON BEHALF OF THE
BOARD OF DIRECTORS
A.C.REKHI
Dated: April 29, 2010 Chairman
Place: New Delhi
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