Home  »  Company  »  Brand Realty Service  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Brand Realty Services Ltd.

Mar 31, 2015

Dear Members,

The Directors have great pleasure in presenting the Annual Report together with the Audited Statement of Annual Accounts for the Year ended 31st March, 2015.

FINANCIAL RESULTS: (Rupees in lakhs)

2014-2015 2013-2014

income from Operation 326.51 315.60

Expenditure 292.71 290.31

Gross Profit after Interest 33.80 25.29

But before Depreciation and Tax

Less: Depreciation 19.10 9.70

Profit after Depreciation 14.70 15.59

Provision For Tax 6.62 3.10

Profit available for appropriation 8.08 12.49

Transfer to General Reserve 0.00 0.00

Balance retained in Profit & Loss Account 8.08 12.49

PERFORMANCE

The over all performance for the financial year ended 31st March, 2015 was satisfactory. The profits of company earned during the year amounted to Rs. 8,08,083/- However, your Directors are confident that the company will do much better in future and trying its level best to further improve its performance.

DIVIDEND

In order to conserve resources for expanding the business, your Directors have opined not to recommend any dividend for the year 2014-2015.

SHARE CAPITAL

(A) Authorised Share Capital

The Authorised Share Capital of the Company stands at Rs. 160,000,000/-(divided into 16,000,000 Equity shares of Rs.10/- each). During the year, there has been no change in the Authorised Share Capital of the Company.

(B) Paid-up Share Capital Equity

The paid up Share Capital of the Company stands at Rs. 30,044,000/- (divided into 3,004,400 Equity shares of Rs.10/- each). During the year, there has been no change in the paid up Share Capital of the Company.

MANAGEMENT DISCUSSIONS AND ANALYSIS:

As per clause 49 of the Listing Agreement with the Stock Exchanges, the Management Discussion and Analysis report is annexed as "Annexure-1" to this Report.

SUBSIDIARY COMPANY

Your Company has one subsidiary namely Ecopulse Infra Limited as on March 31,2015 and holds 51% shares (4,84,500) in it. There are no associate companies within the meaning of Section 2(6) of the Companies Act, 2013 ("Act"). There has been no material change in the nature of the business of the subsidiaries. A separate statement containing the salient features of the financial statements of the company,s subsidiary is being provided in Form AOC-1 alongwith financial statements in terms of Section 129 (3) of the Companies Act, 2013

Pursuant to the provisions of section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited accounts in respect of subsidiaries, are available on the website of the Company.

The Details of the Subsidiary Company are as follows:

Name of the Company Ecopulse Infra Limited

CIN U45400UP2013PLC068389

Registered Office C-450, Sector-10, Noida Uttar Pradesh-201301

The company has sold all of its 51 % holding in the subsidiary company on 22-04-2015 and is no longer a subsidiary effective 22-04-2015.

CONSOLIDATED FINANCIAL STATEMENTS

Your Directors have pleasure in attaching the consolidated financial statement pursuant to clause 32 of the listing agreement entered into with the stock exchange and prepared in accordance with the accounting standard prescribed by the ICAI in this regard and forms part of the annual report.

EMPLOYEE REMUNERATION

(A) The ratio of the remuneration of each director to the median employee,s remuneration and other details in terms of sub-section 12 of Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are forming part of this report and is annexed as "Annexure - 2" to this Report.

(B) The statement containing particulars of employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(2) and Rule 5 (3) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of this report. In terms of Section 136 of the Companies Act, 2013 the same is open for inspection at the Registered Office of the Company. Copies of this statement may be obtained by the members by writing to the Company.

EMPLOYEES BENEFITS

Retirement benefit in the form of provident fund is a defined contribution scheme. The contributions to the provident fund are charged to the statement to the profit and loss for the year when the contributions are due.

Provision has been made in the accounts for expenses of gratuity.

DISCLOSURE UNDER SUB- SECTION(3) OF SECTION 134 OF COMPANIES ACT, 2013, READ WITH RULE 8(3) OF THE COMPANIES (ACCOUNTS) RULES, 2014

A. CONSERVATION OF ENERGY

Your Company is not engaged in any manufacturing activity and thus its operations are not energy intensive. However, adequate measures are always taken to ensure optimum utilisation and maximum possible saving of energy.

B. TECHNOLOGY ABSORPTION

Your Company actively pursues a culture of technology adoption, leveraging on the advancements in technology to serve customers better, manage process efficiently and economically and strengthen control systems. The Company has maintained a technology friendly environment for its employees to work in. In keeping with the current trends in the areas of digital marketing and social media, the Company has effectively used these avenues in positioning itself in the market place and gain better Customer engagement.

C. FOREIGN EXCHANGE EARNINGS & OUTGO

There were no earnings and outgo in foreign exchange during the year under review.

CODES, STANDARDS AND POLICIES AND COMPLIANCES THEREUNDER

CODE OF CONDUCT FOR THE BOARD OF DIRECTORS AND THE SENIOR MANAGEMENT PERSONNEL

Your Company has adopted a Code of Conduct for its Board of Directors and the Senior Management Personnel. The Code requires the Directors and employees of the Company to act honestly, ethically and with integrity and in a professional and respectful manner. During the year under review, the Code of Conduct was revised as per the revised Clause 49 of the Listing Agreement. A declaration by Chairman & Whole Time Director with regard to compliance with the said code, forms part of this Annual Report.

CODE FOR PROHIBITION OF INSIDER TRADING PRACTICES

Your Company has in place a Code for Prevention of Insider Trading Practices in accordance with the Model Code of Conduct, as prescribed under Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992, as amended and has duly complied with the provisions of the said code. The details of the same are provided in Corporate Governance Report forming part of this Annual Report.

WHISTLE BLOWER POLICY

Pursuant to the provisions of Section 177 (9) & (10) of the Companies Act, 2013 read with Rule 7 of Companies (Meetings of Board and its Powers) Rules, 2014 and Clause 49 of the Listing Agreement, the Company has adopted a Whistle Blower Policy, which provides for a vigil mechanism that encourages and supports its Directors and employees to report instances of unethical behaviour, actual or suspected, fraud or violation of the Company,s Code of Conduct or Ethics Policy. It also provides for adequate safeguards against victimisation of persons who use this mechanism and direct access to the Chairman of the Audit Committee in exceptional cases. The details of the same are provided in Corporate Governance Report forming part of this Annual Report.

PREVENTION, PROHIBITION & REDRESSAL OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

The Company has in place a Policy on Prevention, Prohibition & Redressal of Sexual Harassment of Women at Workplace and an Internal Complaints Committee (ICC) has been constituted thereunder. The primary objective of the said Policy is to protect the women employees from sexual harassment at the place of work and also provides for punishment in case of false and malicious representations.

COMPREHENSIVE RISK MANAGEMENT POLICY

Your Company has formulated and adopted a Comprehensive Risk Management Policy which covers a formalised Risk Management Structure, alongwith other aspects of Risk Management i.e. Credit Risk Management, Operational Risk Management, Market Risk Management and Enterprise Risk Management. The Risk Management Committee of the Board, on periodic basis, oversees the risk management systems, processes and minimization procedures of the Company.

NOMINATION REMUNERATION & EVALUATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a Nomination Remuneration & Evaluation Policy, which, inter-alia, lays down the criteria for identifying the persons who are qualified to be appointed as Directors and/or Senior Management Personnel of the Company, alongwith the criteria for determination of remuneration of Directors, KMPs and other employees and their evaluation and includes other matters, as prescribed under the provisions of Section178 of Companies Act, 2013 and Clause 49 of the Listing Agreement. The details of the same are provided in Corporate Governance Report forming part of this Annual Report.

RELATED PARTY TRANSACTION POLICY

Related Party Transaction Policy, as formulated by the Company, defines the materiality of related party transactions and lays down the procedures of dealing with Related Party Transactions. The details of the same are provided in Corporate Governance Report forming part of this Annual Report.

LISTING OF SECURITIES

The Company,s Shares are listed at The Bombay Stock Exchange Ltd., Mumbai. The address of the Stock Exchange is Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai, Maharashtra 400001 .The company has paid listing fees to The Stock Exchange, Mumbai for the year 2015-2016.

DIRECTORS & KEY MANAGERIAL PERSONNEL

A brief resume of all the Directors, nature of their expertise in specific functional areas and names of companies in which they hold directorships, memberships/ chairmanships of Board Committees and their shareholding in the Company are provided below:

Mr. Kamal Manchanda, age 53 years, is a B. Tech. Graduate and has wide experience in the field of Real Estate and financial sector. He is also Director in other Companies viz. Era Resorts Private Limited, Sahil Securities Private Limited, Brand Realty Private Limited, Tradewell Portfolios Private Limited, KR Buildtech Private Limited, Geek Securities(India) Private Limited, Picasso Hospitality Private Limited, Elite Realty Infratech Private Limited, GSU E Consulting Private Limited, Indura Finlease Private Limited, Tradexpan (INDIA) Private Limited, Centre Point Hospitality Management Private Limited, Sahil and Elite Stock Broking Limited, Repoi Real Estate Services Private Limited, Realtor Today Private Limted, Elite Landbuild Private Limited, Elite Realbuild Private Limited, and Ecopulse Infra Limited. He is also a member of Share Transfer and Investor Grievance Committee and audit committee of your Company. He holds 12,92,945 Equity Shares in your Company.

Mrs. Aruna Manchanda, age 45 years, is an Arts Graduate and has wide experience in the field of education and financial sector. She is also Director in other Companies viz. Sahil Securities Private Limited, Brand Realty Private Limited, Tradewell Portfolios Private Limited, Realtor Today Private Limted, Repoi Real Estate Services Private Limited and Designated Partner in Ohaana Clothing LLP. She is also a member of Share Transfer and Investor Grievance Committee, Nomination and Remuneration Committee and Audit Committee of your Company. She holds 7,55,760 Equity Shares in your Company.

In accordance with the requirements of the Companies Act, 2013 and the Company,s Articles of Association, She is liable to retire by rotation in this AGM and being eligible, offered herself for reappointment. Directors solicit their approval for her reappointment as a director of the Company Mr. Surendra Kancheti, age 56 years, is a Chartered Accountant and has wide experience in the field of accounts, financial market and wealth management. He is Independent director of your company. He is also a Director in other companies viz. Sri Agencies & Logistics Private Limited and Wealth Creators Private Limited. He is also a member of Audit Committee and Nomination and Remuneration Committee of your Company. He does not hold any share in your Company.

Mr. Nalin Mohan Mathur, age 61 years is a M.A. Post Graduate in Economics and has wide experience in the field of export management. He is not a director in any other company. He does not hold any share in your Company. He is Independent director of your company from 31st July 2013. He is also a member of Audit Committee, Nomination and Remuneration Committee and Share Transfer and Investor Grievance Committee of your Company.

During the year under review, Ms. Shilpi Kulshrestha was appointed as the Company Secretary of the Company with effect from 31st October, 2014 and resigned with effect from 22nd November, 2014.

All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

Based on the confirmations received, none of the Directors are disqualified for being appointed/ reappointed as directors in terms of Section 164 the Companies Act, 2013 with effect from September 04, 2014.

During the year under review, Mr. Kamal Manchanda was designated as the Key Managerial Personnel of the Company, as per the provisions of Companies Act, 2013.

During the year under review, the Board of Directors appointed Mr. Nikhil Agarwal as a Chief Financial Officer effective 22.11.2014 as per the provisions of Companies Act, 2013.

DIRECTOR'S RESPONSIBILITY STATEMENT

Your Directors would like to inform that the audited accounts containing the Financial Statements for the year ended 31st March, 2015 are in conformity with the requirements of the Companies Act, 2013 and they believe that the financial statements reflect fairly the form and substance of transactions carried out during the year and reasonably present the Company,s financial condition and results of operations. These Financial Statements are audited by M/s. R. Rastogi & Co., Chartered Accountants Statutory Auditors of the Company.

Pursuant to the provisions of Section 134(5) of the Companies Act, 2013, it is hereby confirmed that:

(a) in the preparation of the annual accounts for the year ended March 31, 2015, 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 31,2015 and of the profit 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, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) the directors had prepared the annual financial statements on a going concern basis;

(e) the directors had laid down Internal Financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

(f) 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

BOARD MEETINGS

The Company holds at least four Board meetings in a year, one in each quarter, inter-alia, to review the financial results of the Company. The Company also holds additional Board Meetings to address its specific requirements, as and when required. All the decisions and urgent matters approved by way of circular resolutions are placed and noted at the subsequent Board meeting. Annual calendar of meetings of the Board are finalised well before the beginning of the financial year after seeking concurrence of all the Directors.

During the financial year 2014-15, Twelve (12) Board Meetings were convened and held. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and the Listing Agreement. The details of the Board meetings held during the year along with the attendance of the respective Directors thereat are set out in the Corporate Governance Report forming part of this Annual Report and annexed as "Annexure-3".

INTERNAL AUDIT & INTERNALFINANCIAL CONTROL SYSTEMS

The Company has an Internal Audit Department, headed by a Senior Management Personnel, Mr. Ankit Kapur Prop. of M/s Kapur & Associates, Chartered Accountant, was appointed as an Internal Auditor under the provisions of Section 138 of the Companies Act, 2013 who reports to the Audit Committee of the Board.

The Internal Audit Department conducts comprehensive audit of functional areas and operations of the Company to examine the adequacy of and compliance with policies, procedures, statutory and regulatory requirements. Significant audit observations and follow up actions thereon are reported to the Audit Committee. The Audit Committee reviews adequacy and effectiveness of the Company,s internal control environment and monitors the implementation of audit recommendations. The audit function maintains its independence and objectivity while carrying out assignments. It evaluates on a continuous basis, the adequacy and effectiveness of internal control mechanism. The function also proactively recommends improvement in policies and processes, suggests streamlining of controls against various risks.

Your Company has laid down set of standards, processes and structure, which enables it to implement internal financial control across the Company and ensure that the same are adequate and operating effectively.

MATERIAL CHANGE

There was no material change affecting the financial position of the company between the date of balance sheet and the date of this report, except for the sale of subsidiary company.

SECRETARIAL AUDIT REPORT

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company had appointed M/s. Parveen Rastogi & Co, Practicing Company Secretaries, to undertake the Secretarial Audit of the Company for the financial year 2014-15. The Secretarial Audit Report for the financial year ended March 31, 2015, is annexed as "Annexure - 4" to this report. The said report, does not contain any qualification, reservation or adverse remark, and thus do not call for any further comments.

AUDITORS

M/s R. Rastogi & Co., Chartered Accountants the Company,s Auditors retire at the conclusion of this Annual General Meeting and being eligible offer themselves for re-appointment which, if made, will be in confirmation with the provisions of Section 139 of Companies Act, 2013 and Rules made thereunder.

AUDITOR,S REPORT AND NOTES ON ACCOUNT

The observations made by the auditors are self explanatory and have also been further simplified in the notes to accounts.

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor,s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company,s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

AUDIT COMMITTEE & OTHER BOARD COMMITTEES

The Company has a duly constituted Audit Committee as per the provisions of Section 177 of Companies Act, 2013 and Clause 49 of the Listing Agreement with the stock exchanges. The Board of Directors has constituted other committees namely - Nomination and Remuneration Committee, Share Transfer and Investor Grievance Committee and Risk Management Committee which enables the Board to deal with specific areas / activities that need a closer review and to have an appropriate structure to assist in the discharge of their responsibilities. The details of the composition of the Audit Committee alongwith that of the other Board committees and their respective terms of reference are included in the Corporate Governance Report forming part of this Annual Report. The Audit Committee and other Board Committees meet at regular intervals and ensure to perform the duties and functions as entrusted upon them by the Board. The details of the Audit Committee and other Board Committees are also set out in the Corporate Governance Report forming part of this Annual Report.

RELATED PARTY TRANSACTIONS

There were no materially significant related party transactions i.e. transactions of material nature, with its promoters, directors or senior management or their relatives etc. that may have potential conflict with the interest of company at large. Transactions entered with related parties as defined under the Companies Act, 2013 and Clause 49 of the Listing Agreement during the financial year 2014-15 were mainly in the ordinary course of business and on an arm,s length basis.

Prior approval of the Audit Committee is obtained by the Company before entering into any related party transaction as per the applicable provisions of Companies Act, 2013 and Clause 49 of the Listing Agreement. As per the provisions of Section 188 of the Companies Act 2013, approval of the Board of Directors is also obtained for entering into Related Party Transactions by the Company. A quarterly update is also given to the Audit Committee and the Board of Directors on the related party transactions undertaken by the Company for their review and consideration.

During the year, the Company has not entered into any material contract, arrangement or transaction with related parties, as defined under Clause 49 of the Listing Agreement and Related Party Transaction Policy of the Company.

The policy on Related Party Transactions as approved by the Board is uploaded on the Company,s website. None of the Directors have any pecuniary relationships or transactions vis-a-vis the Company.

CORPORATE GOVERNANCE

Your Company has taken adequate measures to ensure that the provision of Corporate Governance as prescribed under Clause 49 of the Listing Agreement with Stock Exchange are complied with. A detailed report on Corporate Governance, alongwith a certificate from Parveen Rastogi & Co., Company Secretary in whole time practice on its Compliance by the Company forms part of this report.

EXTRACT OF ANNUAL RETURN

Pursuant to Section 134(3)(a) and Section 92(3) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014,the extract of the Annual Return as at March 31,2015, in the prescribed form MGT 9, forms part of this report and is annexed as "Annexure - 5".

ACKNOWLEDGEMENT

Your Director,s wish to place on records their gratitude to, the Companies Customers, Bankers, Shareholders, dealers and suppliers for their assistance and co-operation and who have helped the company in its endeavor. The board also places on record its deep appreciation for the excellent support received from the employees at all level during the year.

By order of the Board of Directors

Sd/- Sd/-

Aruna Manchanda Kamal Manchanda Place: Delhi (Director) (Whole time Director) Dated: 05/09/2015 DIN : 00027965 DIN: 00027889




Mar 31, 2014

TO THE MEMBERS OF BRAND REALTY SERVICES LIMITED

The Directors are happy to present the Annual Report of the Company together with the Audited Accounts for the year ended March 31st 2014 FINANCIAL RESULTS: (Rupees in lakhs)

Current year ended Previous year ended (12 months) (12 months) 31-03-2014 31-03-2013

Income/(Loss) from Operation 315.60 202.18

Expenditure 290.31 164.27

Gross Profit/(Loss) after Interest but before Depreciation and Tax 25.29 37.91

Depreciation 9.70 8.75

Profit/(Loss) after Depreciation 15.59 29.16

Provision for Tax 3.10 9.96

Less/ Add:-Income Tax paid/W.Back 0.00 0.62

Profit available for appropriation 12.49 18.58

Transfer to General Reserve 0.00 0.00

Balance retained in Profit & Loss Account 12.49 18.58

DIVIDEND:

Due to inadequate profits and in order to conserve resources for expanding the business, your Directors have opined not to recommend any dividend for the year 2013-2014.

PERFORMANCE:

The Company has made a profit during the year. The Company is hopeful of maintaining and improving its positions in the future.

MANAGEMENT DISCUSSIONS AND ANALYSIS:

As per clause 49 of the Listing Agreement with the Stock Exchanges, the Management Discussion and Analysis report is appended herein. DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuant to the requirement under Sec.217 (2AA) of the Company''s Act, 1956 with respect to Directors'' Responsibility Statement, it is hereby confirmed:

(i) In the preparation of the accounts, the applicable accounting standards have been followed;

(ii) That the Directors have 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 at the end of the financial year ended 31st March 2014, and of the profit of the Company for that year;

(iii) 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; and

(iv) That the Directors have prepared the Annual Accounts on a "going concern" basis.

CORPORATE GOVERNANCE:

A Report on Corporate Governance as required under Clause 49 of the Listing Agreement entered into with the Stock Exchanges, forms part of the Annual Report. A certificate from Parveen Rastogi & Co., Company Secretary in whole time practice confirming compliance with the conditions of Corporate governance as stipulated under the aforesaid Clause 49, also forms part of the Annual Report.

DIRECTORS:

A brief resume of all the Directors, nature of their expertise in specific functional areas and names of companies in which they hold directorships, memberships/ chairmanships of Board Committees and their shareholding in the Company are provided below:

Mr. Kamal Manchanda, aged 52 years, is a B. Tech. Graduate and has wide experience in the field of Real Estate and financial sector. He is also Director in other Companies viz. Era Resorts Private Limited, Sahil Securities Private Limited, Brand Realty Private Limited, Tradewell Portfolios Private Limited, KR Buildtech Private Limited, Geek Securities(India) Private Limited, Picasso Hospitality Private Limited, Elite Realty Infratech Private Limited, GSU E Consulting Private Limited, Indura Finlease Private Limited, Tradexpan (INDIA) Private Limited, Centrepoint Hospitality Management Private Limited, Sahil and Elite Stock Broking Limited, Repoi Real Estate Services Private Limited, Realtor Today Private Limited, Elite Landbuild Private Limited, Elite Realbuild Private Limited, and Ecopulse Infra Private Limited. He is also a member of Share Transfer and Investor Grievance Committee and audit committee of your Company. He holds 1,220,651 Equity Shares in your Company.

In accordance with the requirements of the Companies Act, 2013 and the Company''s Articles of Association, he is liable to retire by rotation in this AGM and being eligible, offered himself for reappointment. Directors solicit their approval for his reappointment as a director of the Company.

Mrs. Aruna Manchanda, age 44 years, is an Arts Graduate and has wide experience in the field of education and financial sector. She is also Director in other Companies viz. Era Resorts Private Limited, Sahil Securities Private Limited, Brand Realty Private Limited ,Realtor Today Private Limited,Repoi Real Estate Services Private Limited and Tradewell Portfolios Private Limited. She is also a member of Share Transfer and Investor Grievance Committee of your Company. She holds 7,55,760 Equity Shares in your Company.

Mr. Surendra Kancheti, age 55 years, is a Chartered Accountant and has wide experience in the field of accounts, financial market and wealth management. He is Independent director of your company. He is also a Director in other companies viz. Sri Agencies & Logistics Private Limited and Wealth Creators Private Limited. He is also a member of Audit Committee of your Company. He does not hold any share in your Company.

Mr. Nalin Mohan Mathur, age 60 years is a M.A. Post Graduate in Economics and has wide experience in the field of export management. He is not director in any other company. He does not hold any share in your Company. He is an Independent director of your company from 31st July 2013. He is also a member of Audit Committee of your Company.

SUBSIDIARY COMPANY

The Company has a subsidiary company "Ecopulse Infra Private Limited". Annual Accounts of the Company are annexed thereto.

PARTICULARS OF EMPLOYEES:

There is no information required to be given as per section 217(2 A) Companies Act, 1956 read with the Companies (particulars of Employees) rules, 1975 for the year under review as none of the employees falls in this category.

PUBLIC DEPOSITS

During the year under review your company has not invited any deposits from the Public U/s 58 A Act of the Companies Act, 1956 read with Companies (Acceptance of deposits) Rules, 1975.

LISTING

The company''s shares are listed on The Stock Exchange, Mumbai. The company has paid listing fees to The Stock Exchange, Mumbai for the year 2014-2015.

The Company''s shares are currently trading in compulsory DMAT Segment at BSE.

AUDIT COMMITTEE

The present Audit committee of the company comprises of 3 directors i.e. Mr. Nalin Mohan Mathur, Mr. Kamal Manchanda and Mr. Surendra Kancheti. Mr. Nalin Mohan Mathur and Mr. Surendra Kancheti being non-executive directors and independent directors. The members of the audit Committee have the required financial background. Mr. Nalin Mohan Mathur is chairman of the committee.

AUDITORS

The auditors of the company M/s R. Rastogi & Co., Chartered Accountants retire at this meeting and are eligible for re-appointment, which if made will be in accordance with section 139(5) of the Companies Act,2013 and rules made thereunder.

AUDITORS'' REPORT & NOTES ON ACCOUNTS

The observation made by the Auditors is self-explanatory and have also been further simplified in the Notes to Accounts.

INTERNAL AUDITOR

It is proposed to appoint an Internal Auditor of the Company for the financial year 2014-2015.

SECRETARIAL AUDITOR

M/s Parveen Rastogi & Co., Practicing Company Secretary, was appointed as Secretarial Auditor of the Company for the financial year 2014-2015. COMPLIANCE CERTIFICATE

A Secretarial Compliance Certificate issued by M/s Parveen Rastogi & Co., Company Secretaries, in terms of the provisions of Section 383A of the Companies Act, 1956, to the effect that the Company has complied with the applicable provisions of the said Act is attached to the Report.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

Information under section 217(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is given below

a) Energy Conservation Measures taken: Not Applicable as Company is in the business of providing real estate services which are more dependent on Human skill than power consumption.

b) Additional investments and proposals, if any, being implemented for reduction of consumption of energy: Nil

c) Impact of the measures at (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods: Not Applicable

FOREIGN EXCHANGE EARNINGS AND OUTGO

The earnings and outgo in Foreign Exchange during the year under review is Nil.

ACKNOWLEDGEMENT

Your Directors commend the continuing commitment and dedication of employees at all levels. The Directors would also like to thank all other stakeholder, including bankers and other business associates, who have provided sustained support and encouragement. This has understandably been critical for all the Company''s success.The Directors look forward to their continued support in the years to come,

Place : Delhi By order of the Board of Directors Date : 04-09-2014 Aruna Manchanda Kamal Manchanda (Director) (Whole time Director) DIN: 00027965 DIN: 00027889


Mar 31, 2013

To The Members,

The Directors take pleasure in presenting the 19th Annual Report together with Audited Statements of Accounts for the year ended 31ST March 2013.

Amount in lakhs

FINANCIAL RESULTS 2012-13 2011-12

lncome/(Loss) from Operation 202.18 231.73

Expenditure 164.27 148.04

Gross Profit/(Loss) after Interest

but before Depreciation and Tax 37.91 83.69

Depreciation 8.75 7.19

Profit/(Loss) after Depreciation 29.16 76.50

Provision for Tax 8.17 19.28

Less/ Add.-Income Tax paid/W.Back 2.41 1.41

Profit available for appropriation 18.58 55.81

Transfer to General Reserve 0.00 0.00

Balance retained in Profit & Loss Account 18.58 55.81

Review of Operations and Future Outlook

The Company has made a profit during the year. The Company is hopeful of maintaining and improving its positions in the future. Directors

In accordance with the Companies Act, 1956, Articles of Association of the Company and other applicable provisions, Smt. Aruna Manchanda, Director of the Company, retire by rotation and being eligible, offer herself for re-appointment and Shri Nalin Mohan Mathur, Additional Director of the Company is proposed to be regularized and to be appointed as Director of the Company. Mr. Yogesh Kumar has expressed his unwillingness to continue to remain on the Board of the Company w.e.f 02/08/2013.

Auditors

The auditors of the company M/s R.Rastogi & Co.,Chartered Accountants retire at this meeting and are eligible for re-appointment,which if made will be in accordance with sub-section (1B) of section 224 of the Companies Act,1956.

Outlook on Opportunities, Threats, Risks and Concerns

While risk continues to dominate the business agenda, competition is becoming just as dominant a feature. Market volatility, pricing pressure, variations in market performance, demanding stakeholders all have contributed to a global economy that encourages competitive drive and with that drive comes opportunity. For that reason, we have broadened the scope of what has traditionally been our Business Risk report to incorporate both risks and opportunities.

The Company continues its focus on the introduction of new services, building brands and tapping new markets to enhance business opportunities.

Growth in Real Estate Sector has been phenomenal and company wishes to consolidate its position in this sector.

Dividend

Your directors do not recommend any dividend at this stage.

Statutory Statement

The statements, pursuant to Section 217(1 )(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, with respect to the conservation of energy, technology absorption, foreign exchange earnings and outgo, and pursuant to Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975, with respect to the employee(s) of the Company drawing remuneration exceeding the sum prescribed therein, are not applicable to your Company.

Public Deposits

The Company has not accepted deposits pursuant to Section 58-A of the Companies Act. 1956. Hence no information is required to be appended to this report in terms of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank of India Directions, 1998).

Management Discussion and Analysis

The year under review was eventual for Indian markets with activity picking up in Capital market and Real Estate apart from other sectors of the economy. Barring unforeseen circumstances, your Company is expected to maintain and improve its working in the current year.

The internal control systems and procedures adopted by the Company are adequate and commensurate with the size of operations of the company. These systems and procedures are fine tuned from time to time to meet the requirements.

Statements made in this Management Discussion and Analysis describing the Company''s objectives, projections, estimates and expectations may constitute "forward looking statements" within the meaning of applicable laws and regulations. However, these statements would be subject to conditions of the stock market, changes in the policies of the government, economic development, reforms and various other factors.

Subsidiary Company

The Company does not have any subsidiary company.

Directors'' Responsibility Statement

Your Directors confirm:

(i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed; -

(ii) That the Directors have 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 at the end of the financial year ended 31 st March 2013, and of the profit of the Company for that year;

(iii) 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; and

iv) That the Directors have prepared the Annual Accounts on a going concern basis.

Corporate Governance

Reports on Corporate Governance in accordance with Clause 49 of the Listing Agreements with Stock Exchanges, along with a certificate from Auditors are given separately in this Annual Report.

Risk and internal Adequacy

The Company has adequate internal control procedures commensurate with its size and nature of business. The Board of Directors periodically reviews the audit plans, internal audit reports, adequacy of internal controls and risks management.

Status of Listing

The company''s shares are listed at Bombay Stock Exchange, Mumbai. The company has paid listing fees to The Stock Exchange, Mumbai for the year 2013-2014.

The Company''s shares are currently trading in compulsory DMAT Segment in BSE.

Compliance Certificate

A Secretarial Compliance Certificate issued by M/s. Parveen Rastogi & Co., Company Secretaries, in terms of the provisions of Section 383A of the Companies Act, 1956, to the effect that the Company has complied with the applicable provisions of the said Act is attached to the Report.

Acknowledgement

Your Directors would like to express their grateful appreciation for the assistance, co-operation and trust reposed in your Company by the Investors, Banks, Securities and Exchange Board of India, Reserve Bank of India, Stock Exchanges and other Government Authorities during the financial year under review. Your Directors wish to place on record their deep sense of appreciation for its clients and for the devoted services of the young team of professionals of the Company for its success.

Your Directors also wish to place on record their sincere appreciation of the contribution made by the employees of the Company and are thankful to the Shareholders for their continued patronage and support.

For and on behalf of the Board

KAMAL MANCHANDA ARUNA MANCHANDA (WHOLE TIME DIRECTOR) (DIRECTOR)

Place: Delhi

Date : 31.08.2013


Mar 31, 2012

The Directors take pleasure in presenting the Eighteenth Annual Report together with Audited Statements of Accounts for the year ended 31ST March 2012.

Amount in lakhs

FINANCIAL RESULTS 2011-12 2010-11

Income/(Loss) from Operation 233.43 183.98

Expenditure 149.74 113.21

Gross Profit/(Loss) after Interest

but before Depreciation and Tax 83.69 70.77

Depreciation 7.19 5.57

Profit/(Loss) after Depreciation 76.50 65.20

Provision for Tax 32.80 22.42

Less/ Add:-Income Tax paid/W.Back 12.11 1.54

Profit available for appropriation 55.81 41.24

Transfer to General Reserve 0.00 0.00

Balance retained in Profit & Loss Account 55.81 41.24

Review of Operations and Future Outlook

The Company has made a profit during the year. The Company is hopeful of maintaining and improving its positions in the future.

Directors

In accordance with the Articles of Association of the Company, Shri Surendra Kancheti and Smt. Aruna Manchanda, Directors of the Company, retire by rotation and being eligible, offer themselves for re-appointment.

Auditors

The auditors of the company M/s R.Rastogi & Co.,Chartered Accountants retire at this meeting and are eligible for re-appointment,which if made will be in accordance with sub-section (8) of section 224 of the Companies Act,1956.

Outlook on Opportunities, Threats, Risks and Concerns

The average eight percent growth in the last three years has made the country one of the fastest growing economies in the world. The corporate which were paranoid about the approaching competition in the initial days of globalization are now beating their global rivals. The Company continues its focus on the introduction of new services, building brands and tapping new markets to enhance business opportunities. Growth in Real Estate Sector has been phenomenal and company wishes to consolidate its position in this sector.

Dividend

Your directors do not recommend any dividend at this stage.

Directors' Responsibility Statement

Your Directors confirm:

(i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed;

(ii) That the Directors have selected such accounting policies and applied them consistently and made judgements 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 ended 31st March 2012, and of the profit of the Company for that year;

(iii) 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; and

(iv) That the Directors have prepared the Annual Accounts on a going concern basis.

Corporate Governance

Reports on Corporate Governance in accordance with Clause 49 of the Listing Agreements with Stock Exchanges, along with a certificate from Auditors are given separately in this Annual Report.

Statutory Statement

The statements, pursuant to Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, with respect to the conservation of energy, technology absorption, foreign exchange earnings and outgo, and pursuant to Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975, with respect to the employee(s) of the Company drawing remuneration exceeding the sum prescribed therein, are not applicable to your Company.

Public Deposits

The Company has not accepted deposits pursuant to Section 58-A of the Companies Act. 1956. Hence no information is required to be appended to this report in terms of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank of India Directions, 1998).

Management Discussion And Analysis

The year under review was eventual for Indian markets with activity picking up in Capital market and Real Estate apart from other sectors of the economy. Barring unforeseen circumstances, your Company is expected to maintain and improve its working in the current year.

The internal control systems and procedures adopted by the Company are adequate and commensurate with the size of operations of the company. These systems and procedures are fine tuned from time to time to meet the requirements.

Statements made in this Management Discussion and Analysis describing the Company's objectives, projections, estimates and expectations may constitute "forward looking statements" within the meaning of applicable laws and regulations. However, these statements would be subject to conditions of the stock market, changes in the policies of the government, economic development, reforms and various other factors.

Subsidiary Company

As on date there is no Subsidiary of your Company as the entire shareholding in the Brand Realty Private Limited (former Wholly Owned subsidiary) was transferred on 19th January, 2012 to Tradewell Portfolios Private Limited and Mr. Ravinder Parkash Seth.

Risk and Internal Adequacy

The Company has adequate internal control procedures commensurate with its size and nature of business. The Board of Directors periodically reviews the audit plans, internal audit reports, adequacy of internal controls and risks management.

Status of Listing

The company's shares are listed at Bombay Stock Exchange, Mumbai. The company has paid listing fees to Bombay Stock Exchange, Mumbai for the year 2011-2012.

The Company's shares are currently trading in compulsory DMAT Segment in BSE.

Compliance Certificate

A Secretarial Compliance Certificate issued by Parveen Rastogi & Co., Company Secretaries, in terms of the provisions of Section 383A of the Companies Act, 1956, to the effect that the Company has complied with the applicable provisions of the said Act is attached to the Report. Acknowledgement

Your Directors would like to express their grateful appreciation for the assistance, co-operation and trust reposed in your Company by the Investors, Banks, Securities and Exchange Board of India, Reserve Bank of India, Stock Exchanges and other Government Authorities during the financial year under review. Your Directors wish to place on record their deep sense of appreciation for its clients and for the devoted services of the young team of professionals of the Company for its success.

Your Directors also wish to place on record their sincere appreciation of the contribution made by the employees of the Company and are thankful to the Shareholders for their continued patronage and support.

For and on behalf of the Board

KAMALMANCHANDA ARUNA MANCHANDA

(WHOLE TIME DIRECTOR) (DIRECTOR)

Place: Delhi Date: 20.08.2012


Mar 31, 2010

The Directors take pleasure in presenting the Sixteenth Annual Report together with Audited Statements of Accounts for the year ended 31st March 2010.

Amount in lakhs

FINANCIAL RESULTS 2008-2010 2008-2009

lncome/(Loss) from Operation 148.87 146.18

Expenditure 97.94 34.60

Gross Profit/(Loss) after Interest but before Depreciation and Tax 50.93 111.53

Depreciation 5.20 3.20

Profit/(Loss) after Depreciation 45.73 108.38

Provision for Tax (Including Fringe Benefit Tax, Deferred Tax & Sec. Tran. Tax) 14.34 29.89

(Less):- lncome Tax paid/ W.Back 0.77 (0.73)

Profit available for appropriation 32.16 77.76

Transfer to General Reserve 0.00 0.00

Balance retained in Profit & Loss Account 32.16 77.76

REVIEW OF OPERATIONS AND FUTURE OUTLOOK

The Company has made a profit during the year. The Company is hopeful of maintaining and improving its positions in the future.

DIRECTORS

In accordance with the Articles of Association of the Company, Shri KL Manchanda and Shri Surendra Kancheti, Directors of the Company, retire by rotation and being eligible, offer themselves for re-appointment.

AUDITORS

Members are requested to re-appoint M/s R. Rastogi & Co., Chartered Accountants, as Auditors of the Company for the current year and to fix their remuneration.

OUTLOOK ON OPPORTUNITIES, THREATS, RISKS AND CONCERNS

The average eight percent growth in the last three years has made the country one of the fastest growing economies in the world. The corporate which were paranoid about the approaching competition in the initial days of globalization are now beating their global rivals. The Company continues its focus on the introduction of new services, building brands and tapping new markets to enhance business opportunities. Growth in Real Estate Sector has been phenomenal and company wishes to consolidate its position in this sector.

DIVIDEND

Your directors do not recommend any dividend at this stage.

STATUTORY STATEMENT

The statements, pursuant to Section 217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, with respect to the conservation of energy, technology absorption, foreign exchange earnings and outgo, and pursuant to Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975, with respect to the employee(s) of the Company drawing remuneration exceeding the sum prescribed therein, are not applicable to your Company.

PUBLIC DEPOSITS

The Company has not accepted deposits pursuant to Section 58-A of the Companies Act. 1956. Hence no information is required to be appended to this report in terms of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank of India Directions, 1998).

MANAGEMENT DISCUSSION AND ANALYSIS

The year under review was eventual for Indian markets with activity picking up in Capital market and Real Estate apart from other sectors of the economy.

Barring unforeseen circumstances, your Company is expected to maintain and improve its working in the current year.

The internal control systems and procedures adopted by the Company are adequate and commensurate with the size of operations of the company. These systems and procedures are fine tuned from time to time to meet the requirements.

Statements made in this Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations may constitute "forward looking statements within the meaning of applicable laws and regulations. However, these statements would be subject to conditions of the stock market, changes in the policies of the government, economic development, reforms and various other factors.

SUBSIDIARY COMPANY

The audited annual accounts of Brand Realty Private Limited being a 100% subsidiary company is also attached to this report.

The Total turnover for the year was Rs. 1.91 lakhs as compared to previous year of Rs.163.05 lakhs, the net loss for the year was Rs.7.33 lakhs as compared to previous year net profit of Rs. 2.30 lakhs.

DIRECTORS RESPONSIBILITY STATEMENT

Your Directors confirm:

(i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed.

(ii) That the Directors have 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 at the end of the financial year ended 31st March 2010, and of the profit of the Company for that year;

(iii) 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; and

(iv) That the Directors have prepared the Annual Accounts on a going concern basis.

CORPORATE GOVERNANCE

Reports on Corporate Governance in accordance with Clause 49 of the Listing Agreements with Stock Exchanges, along with a certificate from Auditors are given separately in this Annual Report.

RISK AND INTERNAL ADEQUACY

The Company has adequate internal control procedures commensurate with its size and nature of business. The Board of Directors periodically reviews the audit plans, internal audit reports, adequacy of internal controls and risks management.

STATUS OF LISTING

The companys shares are listed at The Stock Exchange, Mumbai. The company has paid the listing fees to The Stock Exchange, Mumbai for the year 2009-2010.

The Companys shares are currently trading in compulsory DMAT Segment in BSE.

NON-BANKING FINANCIAL COMPANIES (RESERVE BANK OF INDIA) DIRECTIONS

As on date the Company is not a NBFC Co. & it has surrendered the certificate to RBI effective 18-03-2008 vide their letter dated 2rd April, 2008.

ACKNOWLEDGEMENT

Your Directors would like to express their grateful appreciation for the assistance, co-operation and trust reposed in your Company by the Investors, Banks, Securities and Exchange Board of India, Reserve Bank of India, Stock Exchanges and other Government Authorities during the financial year under review. Your Directors wish to place on record their deep sense of appreciation for its clients and for the devoted services of the young team of professionals of the. Company for its success.

Your Directors also wish to place on record their sincere appreciation of the contribution made by the employees of the Company and are thankful to the Shareholders for their continued patronage and support.

FOR AND ON BEHALF OF THE BOARD

Place: Delhi Kamal Manchanda

Date: 23/08/2010 Director

 
Subscribe now to get personal finance updates in your inbox!