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Directors Report of Blue Chip India Ltd.

Mar 31, 2014

Dear Shareholders

The Directors have pleasure in presenting the Twenty- Ninth Annual Report of the Company together with the Audited Accounts for the year ended 31st March, 2014.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below:

Particulars Year ended Year ended 31.03.2014 31.03.2013 (RS.) (RS.)

Profit/fLoss) Before Tax 1,422,562.91 1,489,490.49

Tax Expense

-Current Tax 100,000.00 220,000.00

- Deferred Tax - -

Profit/(Loss) After Tax 1,322,562.91 1,269,490.49

Add:Previous Year Adjustment 296,263.00 246,110.75

Profit/(Loss) for the Year 1,026,299.91 1,515,601.24

2. DIVIDEND

To conserve the resources ofthe Companyforfuture expansion, the Board have decided not to recommend any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has not been up to the expectation due to high volatility in the market. Your Directors are making all efforts to improve the performance of the Company further in future.

4. FIXEDDEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the Rules made there under.

5. DIRECTORS

As perthe provisions ofthe Article of Association ofthe Company, Shri Pranab Chakraborty (DIN No. 03568360), retires by rotation at the ensuing Annual General Meeting. Shri Subhabrata Talukdar (DIN No. 00278821), Shri Amiya Kumar Basu (DIN No. 00277676) and Shri Pranab Chakraborty, Directors ofthe Company, tare being appointed as an Independent Directors forfive consecutive years for a term up to 31st March, 2019 as per the provisions of Section 149 and other applicable provisions of Companies Act, 2013. The Company has received a requisite notices in writing from members proposing their appointment as Directors. The Board recommends their appointment as Independent Directors.

Brief resume of the Directors seeking appointment/re-appointment, nature of their expertise in specific functional areas and details of their directorship and membership/chairmanship of Board Committees, as stipulated under Clause 49 ofthe Listing Agreement, are provided in the Report on Corporate Governance forming part of the Annual Report.

6. DIRECTOR''S RESPONSIBILITY STATEMENT

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

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

b. That the Directors have selected such accounting policies and applied them consistently and madejudgments 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 of the Company for the year under review;

c. That 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;

d. That the Directors have prepared the annual accounts for the financial year ended 31st March, 2014 on a going concern basis.

7. AUDITORS'' REPORT

There are no items on which Auditors have commented which need further explanation form the Board of Directors.

8. AUDITORS

M/s. Agrawal S. Kumar& Associates, Chartered Accountants, Statutory Auditors ofthe Company, holds office till the conclusion of the ensuing Annual General Meeting and are eligible for the re- appointment.

The Company has received letter from the Auditors to the effect that their re-appointment, if made, would be within the prescribed limits under the Companies Act, 2013 and they are not disqualified for re-appointment. The Board recommends the appointment of the auditors from conclusion ofensuing Annual General Meeting till the conclusion ofnext Annual General Meeting.

9. EMPLOYEES

None of the employees were in receipt of remuneration in excess of the limits specified under Section 217(2A) ofthe Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

10. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

11. FOREIGNEXCHANGE

The Company had no foreign exchange inflow or outflow during the year under review.

12. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code on Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to Report on Corporate Governance.

The Management Discussion and Analysis Report and the Report on Corporate Governance are given in the annexure attached to this report. The Board members and senior management personnel have confirmed compliance with the Code of Conduct.

13. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the year under review.

14. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors & Bankers. Your Directors are also thankful to its clients for their continued faith and support reposed in them. Last but not the least, your Directors'' place on record their sense of appreciation for the valuable contribution made by the employees of the Company.

On behalf of the Board of Directors For Blue Chip India Limited

Registered office: 10rprincep Street, 2nd Floor, Arihant Jain Pranab Chakraborty Kolkata -700 072 Managing Director Director Dated : 30th May, 2014 DINNo.00174557 DINNo.03568360


Mar 31, 2013

DEAR SHAREHOLDERS

The Directors have pleasure in presenting the Twenty- Eighth Annual Report of the Company together with the Audited Accounts for the year ended 31 st March, 2013.

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below :

Year ended Year ended 31.03.2013 31.03.2012 (in Rs.) (in Rs.)

Profit/(Loss) Before Tax 1,489,490.49 443,373.94

Less : Provision for Tax - Current 220,000.00 -

Deferred - 7,269,082.00

Profit/(Loss) After Tax 1,269,490.49 7,712,455.94

Add: Previous year Adjustment 246,110.75 -

Profit/(Loss) for the year 1,515,601.24 7,712,455.94

2. DIVIDEND

To conserve the resources of the Company for future expansion, the Board have decided not to recommend any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has not been up to the expectation due to high volatility in the market. Your Directors are making all efforts to improve the performance of the Company further in future.

4. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956 and the Rules made there under.

5. DIRECTORS

During the year, Shri Pranab Chakraborty was appointed as Additional Directors of the Company w.e.f. 5th March, 2013. He vacates the office at the ensuing Annual General Meeting and being eligible offers himself for reappointment.

Shri Santosh Kumar Jain resigned from the Directorship of the company. His resignation was accepted with effect from 05/03/2013.

As per the provisions of the Articles of Association of the Company, Shri Amiya Kumar Basu, retires by rotation and being eligible offers himself for re-appointment. The Board recommends his re-appointment for consideration of the shareholders.

6 DIRECTOR''S RESPONSIBILITY STATEMENT

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

a. That in the preparation of the accounts for the financial year ended 31 st March, 2013, the applicable accounting standards have been followed along with the proper explanation relating to material departures;

b. That the Directors have 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 of the Company for the year under review;

c. That 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;

d. That the Directors have prepared the annual accounts for the financial year ended 31st March, 2013 on a going concern basis.

7 AUDITORS''REPORT

There are no items on which Auditors have commented which need further explanation from the Board of Directors.

8. AUDITORS

M/s. Agarwal S. Kumar & Associates, Chartered Accountants, Auditors of the Company, retire at the conclusion of the forthcoming Annual General Meeting and have consented to continue in office, if appointed. They have confirmed that their appointment, if made, will be in accordance with the limits specified in Section 224(1 B) of the Companies Act, 1956.

9. EMPLOYEES

None of the employees were in receipt of remuneration in excess of the limits specified under Section 217(2A) of the Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

10. STATUTORY INFORMATION

The Company being basically in the financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

11 FOREIGN EXCHANGE

The Company had no foreign exchange inflow or outflow during the year under review.

12. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code on Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditors of the Company is attached to this report.

The Management Discussion and Analysis Report and the Report on Corporate Governance are given in the annexure attached to this report. The Board members and senior management personnel have confirmed compliance with the Code of Conduct.

13. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with its employees, which resulted in smooth flow of business operations during the year under review.

14. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt of gratitude to the Shareholders, Investors & Bankers. Your Directors are also thankful to its clients for their continued faith and support reposed in them. Last but not the least, your Directors'' place on record their sense of appreciation for the valuable contribution made by the employees of the Company.

On behalf of the Board of Directors

Registered Office: For BLUE CHIP INDIA LIMITED

10, Princep Street,

2nd Floor,

Kolkata - 700 072 ARIHANT JAIN PRANAB CHAKRABORTY

Dated: 30th May, 2013 Managing Director Director


Mar 31, 2010

The Directors have pleasure in presenting The Twenty-Fifth Annual Report of the Company together with the Audited Accounts for the year ended 31st March, 2010,

1. FINANCIAL HIGHLIGHTS

The working results of the Company for the year under review are given below:

Year ended Year ended 31.03.2010 31.03.2009 (In Rs.) (In Rs.)

Profit/(Loss) before Tax 2,13,34,765.45 (11,79,60,072.30) Less : Provision for Tax :

- Current 31,82,003.00 3,20,810.00

- Fringe Benefit Tax - 23,640.00

- Deferred 4,34,11,041.00 3,56,03,674.00

- For Earlier Year 50,064.00 6,63,378.61

Profrt/(Losa) after Tax (2,53,03,342.55) (6,33,64,226.91)

Less: Previous Year Adjustment - -

Balance brought forward from

previous year (10,67,56,295.64) (2,01,44,962,25)

Securities Transaction Tax - 32.67,788.48

Excess Provision of Income

Tax written back - 20,682.00

Income Tax Paid for Earlier Year 23,715.00 -

Balance carried to Balance

Sheet (13,20,64,638.19) (10,67,56,295,64)

2. DIVIDEND

To conserve the resources of the Company for future expansion, the Board have decided not to recommend any dividend for the year under review.

3. PERFORMANCE REVIEW

The performance of the Company during the current year has seen a quantum leap but not up to the expectation due high volatility in the market.. Your Directors are making all efforts to improve the performance of the Company further in future,

4. FIXED DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Section SBA of the Companies Act, 1956 and the Rules made there under

5. DIRECTORS

As per the provisions of the Article of Association of the Company, Shri Santosh Kumar Jain, retires by rotation and being eligible offers himself for re-appointment. The Board recommends his re- appointment for consideration of the shareholders.

6. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 217(2AA) of the Companies Act, 1958, with respect to Directors Responsibility Statement, it is hereby confirmed:

a. That in the preparation of the accounts for the financial year ended 31st March, 2010, the applicable accounting standards have been followed along with the proper explanation relating to material departures;

b. That the Directors have 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 of the Company for the year under review;

c. Thai the Directors have taken proper and sufficient care for the maintenance of adequate accounting records In accordance with the provisions of the Companies Act, 1958, for safeguarding the assets of the Company and for preventing and detecting fraud and other Irregularities;

d. That the Directors have prepared the annual accounts for the financial year ended 31st March, 2010 on a going concern basis.

7. AUDITORS REPORT

There are no items on which Auditors have commented which need further explanation form the Board of Directors,

a. AUDITORS

M/s, Agarwal S. Kumar & Associates, Chartered Accountants, Auditors of the Company, retire at the conclusion of the forthcoming Annual General Meeting and have consented to continue in office, if appointed. They have confirmed that their appointment, if made, will be in accordance with the limits specified in Section 224(1B) of the Companies Act, 1956,

9. EMPLOYEES

None of the employees were in receipt of remuneration In excess of the limits specified under Section 217(2A) of the Companies Act, 1956 read along with Companies (Particulars of Employees) Rules, 1975.

10, STATUTORY INFORMATION

The Company being basically In the financial sector, requirement regarding the disclosure of particulars of conservation of energy and technology absorption prescribed by the rules is not applicable.

11. FOREIGN EXCHANGE

The Company had no foreign exchange inflow or outflow during the year under review,

12. CORPORATE GOVERNANCE

As per the Listing Agreement with the Stock Exchanges, the Company has implemented the Code of Corporate Governance. The Corporate Governance compliance certificate obtained from the Auditor of the Company is attached to this report.

The Management Discussion and Analysis Report and the Report on Corporate Governance are given in the annexure attached to this report. The Code of Conduct is available on the Companys website www,bluechipind.net. The Board members and Senior management personnel have confirms compliance with the said code.

13. EMPLOYER EMPLOYEE RELATIONSHIP

The Company has maintained a cordial relationship with Its employees, which resulted in smooth from of business operations during the year under review.

14. ACKNOWLEDGEMENTS

Your Directors acknowledge the support and owe a debt at gratitude to the Shareholders. Investors & Bankers, Your Directors are also thankful to Its clients for their continued faith and support reposed in them. Last but not the least, your Directors place on record their sense of appreciation for the valuable contribution made by the employees of the Company.

On behalf of the Board of Directors

For BLUE CHIP INDIA LIMITED

Registered Office: ARIHANT JAlN

10,Princep Street. Managing Director

2nd Floor.

Kolkata - 700 072 SANTOSH KUMAR JAIN

Dated : 27th May, 2010 Director

 
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