Mar 31, 2013
To, The Members of Blue-chip Stock spin Limited.
The Directors have pleasure in presenting the Annual Report together
with the audited statement of accounts for the period ended on 31st
March, 2013.
FINANCIAL RESULTS:
Particulars 2012-2013 2011-2012
1. Total Income 11,50,120 22,45,038
2. Total Expenditure 21,90,518 33,98,894
3. Profit before Tax (10,40,398) (11,53,856)
4. Provision for Tax NIL NIL
5. Profit after Tax (10,40,398) (11,53,856)
DIVIDEND:
Due to losses, your Directors do not recommend the dividend for the
financial year ended 31.03.2013,
DIRECTORS:
Mr. Maulik Shah and Mr. Jitendra N. Shah, Directors of the company are
retiring by rotation and being eligible, offered themselves for
reappointment. Board recommends their reappointment. All other
Directors continue to hold their office.
PUBLIC DEPOSITS:
The Company has not accepted any deposits from the public within the
meaning of Section 58 A of the Companies Act, 1956 and Rules made there
under.
AUDITORS:
M/s Vishves A. Shah & Co., Auditors of the Company retire at this
Annual General Meeting and being eligible, are recommended for
reappointment.
AUDITORS REPORTS:
The observations of the Auditors in their Report and Notes Attached to
the Accounts to the Accounts are Self-Explanatory and to not require
any Further Clarifications.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to tied requirement under section 217 (2 A A) of the Companies
Amendment Act, 2000 with respect to Director Responsibility Statement
it is hereby confirmed:
1. That in the preparation of the Annual Accounts for the financial
year ended 31st March, 2013 the applicable accounting standards had
been followed along with proper explanation relating to material
departures.
2. That the Directors had 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 under review.
3. That the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of the Companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities.
4. That the Directors had prepared the accounts for the financial year
ended 31st March, 2013 on a going concern basis.
CORPORATE GOVERNANCE:
A separate section on Corporate Governance and a Certificate from
Auditors of the company regarding compliance of conditions of Corporate
Governance as stipulated under clause 49 of the Listing Agreement
together with the Management Discussion and Analysis of the financial
position of the company forms part of the Annual Report.
LISTING:
Equity Shares of the company are listed on the Bombay Stock Exchange
Limited (BSE), Vadodara Stock Exchange and Ahmedabad Stock Exchange
(ASE).
MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report are attached herewith and
forms part of the Director Report.
PARTICULARS OF THE EMPLOYEES:
Company has no employee to whom the provision of Section 217(2A) of the
Companies Act, 1956 read with the Companies (particulars of employees)
Rules, 1975 apply and so, forming part of the report is nil.
CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUT GO:
The Additional information required under Section 217(l)(e) of the
Companies Act,1956 relating to Conservation of energy, Research &
Development, Technology absorption are not applicable to the Company,
as the company is not engaged in the manufacturing activities. The
Company has no any Foreign exchange earnings or outgoes during the
financial year.
SUBSIDIARY COMPANIES & CONSOLIDATED FINANCIAL STATEMENT:
The Ministry'' of Corporate Affairs vide its General Circular No. 2/2011
dated 8th February, 2011 has granted a general exemption under Section
212(8) of the Companies Act, 1956 from attaching the accounts along
with the report of the Board of Directors and Auditors as required by
Section 212(1) of the Companies Act, 1956 and as such the accounts of
its Subsidiary, Rhetan Estate Private Limited are not annexed herewith.
The Board has reviewed the affairs of the said subsidiary.
The company will provide the annual accounts of its subsidiary company
and related detailed information on the specific request made by the
shareholders and the said accounts are open for the inspection at the
registered office of the company during the office hours on all working
days, except Sundays and holidays, between 12.00 noon to 2.00 p.m.
As required under Clause 32 of Listing Agreement with the Stock
Exchanges and in accordance with the requirements of Accounting
Standard AS-21 issued by the ICAI, the Company has prepared
Consolidated Financial Statements of the Company. The audited
consolidated financial results include results of its subsidiary
company Rhetan Estate Private Limited and are included in Annual
Report.
ACKNOWLEDGMENT:
Your company & Directors wish to place on record their appreciation of
the assistance and co- operation extended by Investors, Bankers,
Customers, Business Associates and Government. We are deeply grateful
to shareholders for their continued faith, confidence and support to
the company. The Directors wishes to place on record its appreciation
of sincere and dedicated work of employees of the company which has
contributed to the growth of the Company.
Place: Ahmedabad For and on behalf of the Board
Date: 30.05.2013
Jignesh Shah
Chairman
Mar 31, 2012
To, The Members of Bluechip Stockspin Limited.
The Directors have pleasure in presenting the Annual Report together
with the audited statement of accounts for the period ended on 31st
March, 2012.
FINANCIAL RESULTS:
Particulars 2011-2012 2010-2011
1. Total Income 22,45,038 52,99,715
2. Total Expenditure 33,98,894 37,59,088
3. Profit before Tax (11,53,856) 15,40,627
4. Provision for Tax NIL 4,74,295
5. Profit after Tax (11,53,856) 10,66,332
DIVIDEND:
Due to carried forward losses, your Directors do not recommend the
dividend for the financial year ended 31.03.2012.
DIRECTORS:
Mr. Jignesh Shah And Mr. Ashit Vora, Director of the company is
retiring by rotation and being eligible, offered themselves for
reappointment. Board recommends their reappointment.
Board of Directors of the company has appointed Mr. Maulik A. Shah as
Independent additional director w.e.f. 01.08*2012 and accordingly they
holds office only up to the ensuing Annual General Meeting. Company has
received notices from shareholders in writing proposing candidature of
Mr. Maulik A. Shah for the office of the Director. Board recommends his
appointment as Director of the Company.
Mr. Yogesh K. Shah, Independent Director of the company resigned from
his post w.e.f. 14.05.2012 and Mr* Biren L. Dave, Independent Director
of the company resigned from his post w.e.f. 03.08.2012. All other
Directors continue to hold their office.
PUBLIC DEPOSITS:
The Company has not accepted any deposits from the public within the
meaning of Section 58 A of the Companies Act, 1956 and Rules made there
under.
AUDITORS:
M/ s Vishves A. Shah & Co., Auditors of the Company retire at this
Annual General Meeting and being eligible, are recommended for
reappointment.
AUDITORS REPORTS:
The observations of the Auditors in their Report and Notes Attached to
the Accounts to the Accounts are Self-Explanatory and do not require
any Further Clarifications.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the requirement under section 217 (2 A A) of the Companies
Amendment Act, 2000 with respect to Director Responsibility Statement
it is hereby confirmed:
1. That in the preparation of the Annual Accounts for the financial
year ended 31st March, 2012 the applicable accounting standards had
been followed along with proper explanation relating to material
departures.
2. That the Directors had 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 Loss of the Company for the year under review.
3. That the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of the Companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities.
4. That the Directors had prepared the accounts for the financial year
ended 31st March, 2012 on a going concern basis.
CORPORATE GOVERNANCE:
A separate section on Corporate Governance and a Certificate from
Auditors of the company regarding compliance of conditions of Corporate
Governance as stipulated under clause 49 of the Listing Agreement
together with the Management Discussion and Analysis of the financial
position of the company forms part of the Annual Report.
LISTING:
Equity Shares of the company are listed on the Bombay Stock Exchange
Limited (BSE), Vadodara Stock Exchange and Ahmedabad Stock Exchange
(ASE).
MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report are attached herewith and
forms part of the Director Report.
PARTICULARS OF THE EMPLOYEES:
Company has no employee to whom the provision of Section 217(2A) of the
Companies Act, 1956 read with the Companies (particulars of employees)
Rules, 1975 apply and so, forming part of the report is nil.
CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUT GO:
The Additional information required under Section 217(l)(e) of the
Companies Act,1956 relating to Conservation of energy, Research &
Development, Technology absorption are not applicable to the Company,
as the company is not engaged in the manufacturing activities. The
Company has no any Foreign exchange earnings or outgoes during the
financial year.
SUBSIDIARY COMPANIES & CONSOLIDATED FINANCIAL STATEMENT:
The Ministry of Corporate Affairs vide its General Circular No. 2/2011
dated 8th February, 2011 has granted a general exemption under Section
212(8) of the Companies Act, 1956 from attaching the accounts along
with the report of the Board of Directors and Auditors as required by
Section 212(1) of the Companies Act, 1956 and as such the accounts of
its Subsidiary, Rhetan Estate Private Limited are not annexed herewith.
The Board has reviewed the affairs of the said subsidiary.
The company will provide the annual accounts of its subsidiary company
and related detailed information on the specific request made by the
shareholders and the said accounts are open for the inspection at the
registered office of the company during the office hours on all working
days, except Sundays and holidays, between 12.00 noon to 2.00 p.m.
As required under Clause 32 of Listing Agreement with the Stock
Exchanges and in accordance with the requirements of Accounting
Standard AS-21 issued by the ICAI, the Company has prepared
Consolidated Financial Statements of the Company. The audited
consolidated financial results include results of its subsidiary
company Rhetan Estate Private Limited and are included in Annual
Report.
ACKNOWLEDGMENT:
Your company & Directors wish to place on record their appreciation of
the assistance and co- operation extended by Investors, Bankers,
Customers, Business Associates and Government. We are deeply grateful
to shareholders for their continued faith, confidence and support to
the company. The Directors wishes to place on record its appreciation
of sincere and dedicated work of employees of the company which has
contributed to the growth of the Company,
Place: Ahmedabad For and on behalf of the Board
Date: 17.08.2012 Jignesh Shah
Chairman
Mar 31, 2010
The Directors have pleasure in presenting the Annual Report together
with the audited statement: of accounts for the period ended on 31st
March, 2010.
FINANCIAL RESULTS:
Particulars 2009- 2010 2008-2009
1. Total Income 60,09,301 97,10,890
2. Total Expenditure 41,23,603 95,91,680
3. Profit before Tax 18,85,698 1,19,210
4. Provision for Tax 5,82,681 -
5. Profit after Tax 13,03,017 1,19,210
DIVIDEND:
Due to carried forward losses, your Directors do not recommend the
dividend for the financial year ended 31.03.2010.
TAKEOVER OF MANAGEMENT OF THE COMPANY :
Mr. Jignesh Shah has, pursuant to the SEBI (SAST) Regulations, 1997,
made public announcement to acquire up to 10,10,100 equity shares of
Rs. 10 each representing 20% of the total equity share capital of the
company. Pursuant to the said offer, he acquired 8,41,400 equity shares
of the company representing 16.66% of the total share holding of the
company. Pursuant to the said public announcement, management of the
company has been changed and was taken over by Mr. Jignesh Shah.
DIRECTORS:
Board of Directors of the company has appointed Mr. Jigensh K. Shah as
additional director w.e.f. 20.11.2009. Board of Directors of the
company has also appointed Mr. Jitendra N. Shah, Mr. Ashit H. Vora and
Mr. Biren L. Dave as additional directors of the company w.e.f.
01.09.2010. Accordingly they all hold office upto the ensuing annual
general meeting.
Also Mr. Jitendra B. Shah, Director of the company resigned from his
post w.e.f. 20.11.2009 and Mr. Yatin Shah, Director of the company
resigned from his post w.e.f. 01.09.2010. Mr. Yogesh Shah has also
resigned from the post of Managing Director of the company w.e.f.
01.09.2010 and he opt to continue to be director of the company as
Independent Non-executive director.
Board of Directors of the company has removed Mr. Hasmukh D Patel,
Director of the company from his post u/s-283(l)(g) of the Companies
Act, 1956 w.e.f. 31.03.2010.
Mr. Yogesh Shah, Director of the company is retiring by rotation and
being eligible, offer himself for reappointment. Board recommends his
reappointment.
FIXED DEPOSITS :
The Company has not accepted any deposits from the public within the
meaning of Section 58 A ,Ã of the Companies Act, 1956 and Rules made
there under.
AUDITORS:
M/s Vishwesh A. Shah & Co., Auditors of the Company retire at this
Annual General Meeting and being eligible, are recommended for
reappointment.
AUDITORS REPORTS :
The observations of the Auditors in their Report and Notes Attached to
the Accounts to the Accounts are Self-Explanatory and do not require
any Further Clarifications.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the requirement under section 217 (2AA) of the Companies
Amendment Act, 2000 with respect to Director Responsibility Statement
it is hereby confirmed:
1. That in the preparation of the Annual Accounts for the financial
year ended 31st March, 2010 the applicable accounting standards had
been followed along with proper explanation relating to material
departures.
2. That the Directors had 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 Loss of the Company for the year under review.
3. That the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provision of the Companies Act, 1956 for safeguarding the assets of the
Company and for preventing and detecting fraud and other
irregularities.
4. That the Directors had prepared the accounts for the financial year
ended 31st March, 2010 on a going concern basis.
CORPORATE GOVERNANCE:
A separate section on Corporate Governance and a Certificate from
Auditors of the company regarding; compliance of conditions of
Corporate Governance as stipulated under clause 49 of the Listing
Agreement together with the Management Discussion and Analysis of the
financial position of the company forms part of the Annual Report.
LISTING:
Equity Shares of the company are listed on the Bombay Stock Exchange
Limited (BSE), Vadodara Stock Exchange and Ahmedabad Stock Excharge
(ASE). However the trading in the shares of the company is suspended.
MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report is attached herewith and
forms part of the Director Report.
PARTICULARS OF THE EMPLOYEES :
Company has no employee to whom the provision of Section 217(2A) of the
Companies Act, 1956 read with the Companies (particulars of employees)
Rules, 1975 apply and so, forming part of the report is nil.
CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION
AND FOREIGN EXCHANGE EARNINGS AND OUT GO:
The Additional information required under Section 217(l)(e) of the
Companies Act,1956 relating to Conservation of energy, Research &
Development, Technology absorption are not applicable to the Company,
as the company is not engaged in the manufacturing activities. The
Company has no any Foreign exchange earnings or outgoes during the
financial year.
ACKNOWLEDGMENT:
Your company & Directors wish to place on record their appreciation of
the assistance and co- operation extended by Investors, Bankers,
Customers, Business Associates and Government. We are deeply, grateful
to shareholders for their continued faith, confidence and support to
the company. The Directors wishes to place on record its appreciation
of sincere and dedicated work of employees of the company which has
contributed to the growth of the Company.
For and on behalf of the Board
Jignesh Shah
Chairman
Place: Ahmedabad
Date : 01.09.2010