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Directors Report of Chhattisgarh Industries Ltd.

Mar 31, 2015

The Directors have pleasure in presenting the 31st Annual Report with the Audited Accounts of the Company for the year ended March 31, 2015.

1. FINANCIAL RESULTS

Turnover

Current Period (In Rs.) Previous Year (In Rs.)

9,55,218 5,07,068

During the financial year 2014-2015 the turnover of the Company is lesser as compare to the previous year. The financials for the financial year 2013-14 is as follows

YEAR ENDED

31st March 31st March PARTICULARS 2015 2014 (Rs.) (Rs.)

Sales and Other Income 9,55,218 5,07068

Total Expenditure 41,81,695 50,02,534

Profit before Tax -32,26,477 -44,95,466

Profit/(Loss) for the period -32,26,477 -45,43,130

2. DIVIDEND

Considering the losses from last few years the Directors of the Company has not recommended ant dividend for the current period.

3. TERM DEPOSITS:

During the period under review, your Company has not accepted any deposit under section 73 & 76 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 1975.

Section 73 to 76 (both inclusive) read with Companies (Acceptance of deposits) Rules, 2013 regulates the invitation, acceptance and repayment of deposits by the Companies.

4. Information under Section 196 – 202 of the Companies Act, 2013 and rule 3-10 of the Companies (Appointment and remuneration of Managerial Personnel) Rule, 2014.

None of the employees was in receipt of remuneration exceeding the limit specified under section 196-202 of Companies Act, 2013.

5. DIRECTORS:

Pursuant to section 152 of the companies Act, 2013 (the 'Act') and under Article (Article No. if any) of the Company's Articles of Association:

Mrs Gayatri Devi Goyal, has been appointed as a Additional Director of the Company. Pursuant to section 149,150 and 152, of the Act, read with Companies "(Appointment and Qualification of Directors) Rules, 2014 along with NOTE IV of the Act (including any statutory modifications(s) or re-enactment thereof for the time being in force), the Additional Director can hold office for a term of Five consecutive years on the Board of Directors of your Company.

6. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to in terms of clause (c) of Sub Section 3 of Section 134 of the Companies Act, 2013, the Directors, based on the representations received from the management, confirm:

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

That we 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 March 2015 and of the Profits /Loss of the Company for that period.

That we have taken proper and sufficient care for the maintenances 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.

That we have prepared the Annual accounts on a going concern basis.

7. AUDITORS:

The Board has proposed the appointment of M/s U.K. Rathi & Co., Chartered as a Statutory Auditors of the Company until the conclusion of next Annual General Meeting of the company at a remuneration as the Board of Directors may determine. "subject to the approval of the shareholders in the Annual General Meeting of the company."

8. CONVERSATION OF ENERGY, RESERCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information required under the companies Act, 2013 with respect to conversation of energy, technology absorption and foreign exchange earnings / outgo is appended hereto as Annexure: "A" and it forms part of this Report.

9. EMPLOYEE RELATIONS:

The employee relations in the company continued to be positive, information as per Section 217 (2A) of the Companies Act, 1956 (the 'Act') read with the Companies (Particulars of Employees) rule, 1975 forms part of this Report. As per the provisions of the Section 219(1)(b)(iv) of the Act, the Report and Accounts are being sent to the shareholders of the Company excluding the statement on particulars of employees under Section 217(2A) of the Act. Any shareholder interested in obtaining a copy of the said statement may write to the Secretarial Department at the Registered Office of the Company.

10. TRADE RELATIONS:

Your Directors wish to record appreciation of the continued unstinted support and co – operation from its Customers, suppliers of goods / services, clearing and forwarding agents and all others associated with it. Your Company will continue to build and maintain strong association with its business partners.

Your Company also has policy on prevention of Sexual Harassment which is reviewed by the internal Complaints Committee at regular intervals. Your Company recognizes its responsibility and continues to provide a safe working environment for women, free from sexual harassment and discrimination and to boost their confidence, morale and performance.

11. CORPORATE GOVERNANCE:

As per clause 49 of the Listing Agreement entered into with the Stock Exchanges, Corporate Governance Report with auditors' certificate thereon and management Discussion and Analysis are attached and form part of this report.

As per clause 55 of the Listing Agreement entered into with the Stock Exchanges, a Business Responsibility Report is attached and form part of the annual report.

12. ACKNOWLEDGEMENTS:

The Directors thank the Company's customers, vendors, investors, business associates, bankers for their support to the company. The Directors appreciate and value the contributions made by every member of the "Chhattisgarh" family across the country.

13. PARTICULARS OF EMPLOYEES

There was no employee in respect of whom information is required to be given pursuant to Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Amendment Rules, 1999 as amended up-to-date.

14. AUDITOR REPORT

The Auditors' Report to the shareholders did not contain any adverse or qualification remarks.

15. INDUSTRIAL RELATIONS

During the year under review, your company has cordial and harmonious industrial relations at all levels of the Organization.

16. PUBLIC DEPOSITS

During the year under review, your Company has not accepted any Fixed Deposits from public within the meaning of the provisions of the Section 73 & 76 of the Companies Act, 2013 and the Rules made there under.

Your Directors place on record their appreciation of the dedication and commitment of your Company's employees and look forward to their support in the future as well.

For and on behalf of the Board of Directors

Sd/-

Anil Kumar Sharma

Managing Director

Place: Raipur

Date: August 28, 2015.


Mar 31, 2014

The Members of

Chhattisgarh Industries Limited

The Directors have pleasure in presenting the 30th Annual Report with the Audited Accounts of the Company for the year ended March 31,2014.

Financial Results

The financial Results are briefly indicated below

YEAR ENDED Particulars 31st March 31st March 2014 2013

Sales and Other Income 5,07,068 708,778

Total Income 25,23,425 4,021,691

Total Expenditure (44,95,466) (3,312,913)

Profit/(Loss) for the year (45,43,130) (3,312,913)

Dividend

With a view to build resources for future needs and in the absence of profits, Directors regret their inability to recommend any dividend for the financial year under re view

DIRECTORS

During the year following changes were made in the Board of the Company

Mr. Ramesh Bhuta Aswar, who retires by Rotation at the Annual General Meeting and being eligible, offers himself for re-appointment as a Non-Executive Independent Director of the company for a consecutive period of five (5) years on the board of the company as Non-Executive Independent directors effective from 29th September, 2014.

Mr.Keshav Goyal, who retires by rotation and being eligible, offers himself for re-appointment.

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to Section 217 (2AA) of the Companies Act, 1956 the Board of Directors hereby confirms:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

ii. That 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 at the end of the financial year and of the Profits of the Company for that period.

iii. That the Directors have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

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

CONVERSATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The particulars relating to Conversation of Energy, Technology absorption and foreign exchange earnings and outgo are not applicable to the company. However, efforts are being made to conserve and optimize the use of energy wherever possible. During the year under review, your Company has neither earned nor spent any foreign exchange

CORPORATE GOVERNANCE

Separate Reports on the Corporate Governance and Management Discussion & Analysis are included in the Annual Report and Certificate of the Auditors of your Company confirming the compliance of conditions of Corporate Governance is also annexed thereto.

PARTICULARS OF EMPLOYEES

There was no employee in respect of whom information is required to be given pursuant to Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Amendment Rules, 1999 as amended up-to-date.

Auditors

M/s U.K.Rathi & Co., Chartered Accountants, the Statutory Auditors of the Company, retire at the conclusion of the ensuing Annual General Meeting. They have expressed their willingness to continue as a Statutory Auditors of the Company if appointed. They have further confirmed that the said appointment would be in conformity with the provisions of Section 224(1B) of the Act.

Auditor Report

The Auditors'' Report to the shareholders did not contain any adverse or qualification remarks. INDUSTRIAL RELATIONS

During the year under review, your company has cordial and harmonious industrial relations at all levels of the Organization.

PUBLIC DEPOSITS

During the year under review, your Company has not accepted any Fixed Deposits from public within the meaning of the provisions of the Section 58A of the Companies Act, 1956 and the Rules made there under. Your Directors place on record their appreciation of the dedication and commitment of your Company''s employees and look forward to their support in the future as well.

INFORMATION REQUIRED UNDER THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF THE BOARD OF DIRECTORS) RULES, 1988

Particulars with respect to Conservation of Energy, Technology Absorption as per section 217(1)(e) of the Companies Act, 1956 read with Company''s (Disclosure of particulars in the Board of Directors) Rule, 1988 for the year ended 31st March 2014-are annexed to this report.

CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

(A) CONSERVATION OF ENERGY

The operations of the company are not energy intensive. However wherever possible the company strives to curtail the consumption of energy on continued basis. Further company has absorbed latest technology which is helpful in conserving energy.

(B) TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION

The Company over the years through its experience has developed modified and adopted unique technique of stamping of LAM Coke which increases the efficiency of Coke.

By Order of the Board of Directors Sd/- Anil Kumar Sharma Managing Director Place: Raipur Date: August 27, 2014


Mar 31, 2010

The Directors are pleased to present the Twenty Sixth Annual Report and the Audited Accounts for the year ended 31st March 2010.

FINANCIAL RESULTS For the year For the year

ended 2009-2010 ended 2008-2009 (Rs in lacs) (Rs in lacs)

Sales and other Income 75.39 66.55

Increase/ Decrease in Stock (58.86) (2.47)

Total Expenditure 66.68 57.96

Profit (Loss) for the year (50.15) 5.50

Balance brought forward (413.98) (419.48)

Balance carried to Balance Sheet (464.13) (413.98)

REVIEW OF OPERATIONS

During the year under review the Company has recorded a turnover of Rs 61.67 lacs as compared to Rs 54.04 lacs in the previous year.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO.

During the period under review the Company has not carried out any manufacturing activities, hence the disclosures under the provisions of Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988 with regard to energy, technology absorption and foreign exchange earnings outgo are not applicable to your Company.

PARTICULARS OF EMPLOYEE

Section 217(2A) of the Companies Act. 1956 is not applicable as no employee of the Company is in receipt or entitled remuneration in excess of the limits specified therein.

CORPORATE GOVERNANCE

In terms of Clause 49 of the Listing Agreement, a report on Corporate Governance together with the Auditors Report certificate regarding the compliance of conditions of corporate Governance are annexed to the report.

DIRECTORS RESPONSIBILITY STATEMENT

As required under section 217 (2AA) of the Companies Act, 1956, your Directors confirm that:

1) In preparation of the Annual Accounts, for the year ended 31st March, 2010 the applicable Accounting Standards have been followed.

2) 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 as on 31st March 2010 and of the Profit and Loss for the financial year ended 31st March 2010.

3) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for the safeguarding the assets of the company and for detecting fraud and irregularities.

4) The Directors have prepared the Annual Accounts on Going Concern Basis. DIRECTOR

Pursuant to the provisions of the Companies Act, 1956 and Articles of Association of the Company, Smt. Rama Garg, Director of the Company retires by rotation and being eligible offers herself for re-appointment at the ensuing Annual General Meeting.

Appointment of Shri Sumit Kumar Agarwal and Shri Akash Singhvi as Additional Directors of the Company shall be confirmed at the ensuing Annual General Meeting.

AUDITORS AND AUDITORS REPORT

M/s C.S. Sarda & Co. Chartered Accountants, the retiring auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

The notes on accounts referred to in the Auditors Report are self-explanatory and therefore do not calls for any further comment.

STOCK EXCHANGE

The Companys securities are listed at Calcutta Stock Exchange Association Limited, and Bombay Stock Exchange Limited.

APPRECIATION

Your Directors place on record their deep appreciation for the continued, support and co-operation extended to the Company by the Banks, Government departments and other agencies.

Your Directors thank our esteemed shareholders for your continued support.

Your Directors place on record their appreciation of the dedication and commitment of your Companys employees and look forward to their support in the future as well.

Place: Kolkata FOR AND ON BEHALF OF THE BOARD

Date: 05.08.2010

M.K.GANGULY

(Chairman)



 
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