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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