Mar 31, 2014
Dear Shareholders,
The Directors here by present the 28th Annual Report on business and
operations of the Company together with the Audited statements of
Accounts for the financial year ended on 31st March 2014.
OPERATIONS REVIEW:
During the year under review due to financial crisis company has not
carried out any business activities and faces huge set back. So company
not in position to generate any revenue from the operation but due to
some fixed cost company posted Net Loss of Rs. 105458.
The management has taken measures as part of its continuous
improvements to strengthen operations and viability.
DIVIDEND:
Your Directors have not declared any dividend during the year under
review due to loss incurred.
FIXED DEPOSIT:
The Company has not accepted any deposit from the public pursuant to
the provisions of Section 58A of the Companies Act, 1956.
DIRECTORS:
MR. KETANBHAI SORATHIYA Director of the Company is retires by rotation
at the ensuing Annual General Meeting and being eligible offer himself
for reappointment.
MR. ANIL MISTRY and MR NARESH SHINDE were appointed as additional
directors of the Company with effect from 22.01.2014 and 24.06.2014 are
hereby appointed as an Independent Director of the Company for a period
of five years from the conclusion 28th Annual General Meeting to the
conclusion of 33rd Annual General Meeting.
MR. ASHISH MANJREKAR was appointed as on 27.01.2014 and resigned as on
24.06.2014 as additional Director of the company. MR. DHARMESH PATEL
and MR.VIRAL SETH ceased as a Director of the Company w.e.f 22.01.2014,
27.01.2014.
AUDITORS AND AUDITORS' REPORT:
M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors
of the Company, hold office until the conclusion of the ensuing Annual
General Meeting and are eligible for reappointment.
The observations made by the Auditors' in their Auditors' Report and
the Notes on Accounts referred to in the Auditors' Report are
self-explanatory and do not call for any further comments.
SECRETARIAL COMPLIANCE CERTIFICATE:
In accordance with the Section 383A of the Companies Act, 1956 and
Companies (Appointment and Qualifications of Secretary) Amendment
Rules, 2009, the Company has obtained a certificate from a secretary in
whole-time practice confirming that the Company has complied with the
provisions of the Companies Act, 1956 and a copy of such certificate is
annexed to this report.
MANAGEMENT DISCUSSION AND ANALYSIS:
Management Discussion and Analysis forms part of the Annual Report to
the shareholders and it includes discussion on matters as required
under the provisions of Clause 49 of the listing agreement forming part
of this report is annexed herewith. The Audit Committee of the Company
has regularly reviewed internal Control System of the company.
CORPORATE GOVERNANCE REPORT:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the
Listing Agreement with the Stock Exchanges, Report on Corporate
Governance along with the Auditors' Certificate on its compliance is
annexed separately to this Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The details of conservation of energy, technology absorption etc. as
required to be given under Section 217(1)(e) of the Companies Act 1956,
are not applicable to our Company, as our Company has not engage in
manufacturing activities.
The foreign exchange earning on account of the operation of the Company
during the year was Rs. Nil. PARTICULARS OF EMPLOYEES:
The statement showing particulars of employees under section 217(2A) of
the Companies Act, 1956, read with the companies (Particulars of
Employees) Rules, 1975, as amended, is not required to be given as
there were no employees coming within the purview of this section.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Directors of your Company confirm that:
i) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
ii) 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 or
loss of the Company for that period;
iii) 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;
iv) Directors have prepared the accounts on a "going concern basis".
ACKNOWLEDGEMENT:
Your Directors would like to express their sincere appreciation for the
assistance and co-operation received from the Banks, Government
Authorities, Customers, and Shareholders during the year. Your
directors also wish to take on record their deep sense of appreciation
for the committed services of the employees at all levels, which has
made our Company successful in the business.
For and on Behalf of the Board
For, CUPID TRADES AND FINANCE LIMITED
PLACE: MUMBAI
DATE: 26.08.2014
(KETANBHAI SORATHIYA)
CHAIRMAN
Mar 31, 2013
Dear Shareholders,
The Directors here by present the27th Annual Report on business and
operations of the Company together with the Audited statements of
Accounts for the financial year ended on 31st March 2013.
OPERATIONS REVIEW:
During the year under review due to financial crisis company has not
carried out any business activities and faces huge set back. So company
not in position to generate any revenue from the operation but due to
some fixed cost company posted Net Loss of Rs. 172110.
The management has taken measures as part of its continuous
improvements to strengthen operations and viability.
DIVIDEND:
Your Directors have not declared any dividend during the year under
review due to loss incurred.
FIXED DEPOSIT:
The Company has not accepted any deposit from the public pursuant to
the provisions of Section 58A of the Companies Act, 1956.
DIRECTORS:
Mr. Ketanbhai Sorathiya Director of the Company is retires by rotation
at the ensuing Annual General Meeting and being eligible, offer himself
for reappointment.
AUDITORS AND AUDITORS'' REPORT:
M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors
of the Company, hold office until the conclusion of the ensuing Annual
General Meeting and are eligible for reappointment.
The observations made by the Auditors'' in their Auditors'' Report and
the Notes on Accounts referred to in the Auditors'' Report are
self-explanatory and do not call for any further comments.
SECRETARIAL COMPLIANCE CERTIFICATE:
In accordance with the Section 383A of the Companies Act, 1956 and
Companies (Appointment and Qualifications of Secretary) Amendment
Rules, 2009, the Company has obtained a certificate from a secretary in
whole-time practice confirming that the Company has complied with the
provisions of the Companies Act, 1956 and a copy of such certificate is
annexed to this report.
MANAGEMENT DISCUSSION AND ANALYSIS:
Management Discussion and Analysis forms part of the Annual Report to
the shareholders and it includes discussion on matters as required
under the provisions of Clause 49 of the listing agreement forming part
of this report is annexed herewith. The Audit Committee of the Company
has regularly reviewed internal Control System of the company.
CORPORATE GOVERNANCE REPORT:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the
Listing Agreement with the Stock Exchanges, Report on Corporate
Governance along with the Auditors'' Certificate on its compliance is
annexed separately to this Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The details of conservation of energy, technology absorption etc. as
required to be given under Section 217(1)(e) of the Companies Act 1956,
are not applicable to our Company, as our Company has not engage in
manufacturing activities.
The foreign exchange earning on account of the operation of the Company
during the year was Rs. Nil.
PARTICULARS OF EMPLOYEES:
The statement showing particulars of employees under section 217(2A) of
the Companies Act, 1956, read with the companies (Particulars of
Employees) Rules, 1975, as amended, is not required to be given as
there were no employees coming within the purview of this section.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Directors of your Company confirm that:
i) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
ii) 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 or
loss of the Company for that period;
iii) 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;
iv) Directors have prepared the accounts on a "going concern basis".
ACKNOWLEDGEMENT:
Your Directors would like to express their sincere appreciation for the
assistance and co-operation received from the Banks, Government
Authorities, Customers, and Shareholders during the year. Your
directors also wish to take on record their deep sense of appreciation
for the committed services of the employees at all levels, which has
made our Company successful in the business.
For and on Behalf of the Board
For, CUPID TRADES AND FINANCE LIMITED
PLACE: MUMBAI
DATE: 30.08.2013
(DHARMESH PATEL)
CHAIRMAN
Mar 31, 2012
Dear Shareholders,
The Directors here by present the26th Annual Report on business and
operations of the Company together with the Audited statements of
Accounts for the financial year ended on 31st March 2012.
FINANCIAL RESULTS:
[Amount in Rupees]
Particulars 2011-12 2010-11
Total Income 1659425 28911590
Total Expenses 1260341 23520325
Depreciation 69514 103325
Profit (Loss) before Tax and Extra
ordinary Items 399084 5391265
Current Tax 129600 1632000
Profit (Loss) after Tax & adjustments 269484 3759265
Net Profit (Loss) after Tax 269484 3721466
EPS 0.28 3.88
OPERATIONS REVIEW:
During the year under review total income of the company was Rs.
16,59,425/- compare to last year Rs. 2,89,11,590/- due to sluggish
market condition and financial crisis company unable to generate target
revenue. And made net profit of Rs. 2,69,484/- after providing
depreciation and provision for tax.
The management has taken measures as part of its continuous
improvements to strengthen operation and viability.
DIVIDEND:
No dividend be recommended in respect of the year ended 31st March,
2012 and the entire profit be ploughed back to the business to meet the
needs for additional finance for capital expenditure and growth of the
company.
FIXED DEPOSIT:
The Company has not accepted any deposit from the public pursuant to
the provisions of Section 58A of the Companies Act, 1956.
DIRECTORS:
Mr. Viral Narendrakumar Sheth Director of the Company is retires by
rotation at the ensuing Annual General Meeting and being eligible,
offer himself for reappointment.
AUDITORS AND AUDITORS' REPORT:
M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors
of the Company, hold office until the conclusion of the ensuing Annual
General Meeting and are eligible for reappointment.
The observations made by the Auditors' in their Auditors' Report and
the Notes on Accounts referred to in the Auditors' Report are
self-explanatory and do not call for any further comments.
SECRETARIAL COMPLIANCE CERTIFICATE:
In accordance with the Section 383A of the Companies Act, 1956 and
Companies (Appointment and Qualifications of Secretary) Amendment
Rules, 2009, the Company has obtained a certificate from a secretary in
whole-time practice confirming that the Company has complied with the
provisions of the Companies Act, 1956 and a copy of such certificate is
annexed to this report.
MANAGEMENT DISCUSSION AND ANALYSIS:
Management Discussion and Analysis forms part of the Annual Report to
the shareholders and it includes discussion on matters as required
under the provisions of Clause 49 of the listing agreement forming part
of this report is annexed herewith. The Audit Committee of the Company
has regularly reviewed internal Control System of the company.
CORPORATE GOVERNANCE REPORT:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the
Listing Agreement with the Stock Exchanges, Report on Corporate
Governance along with the Auditors' Certificate on its compliance is
annexed separately to this Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The details of conservation of energy, technology absorption etc. as
required to be given under Section 217(1)(e) of the Companies Act 1956,
are not applicable to our Company, as our Company has not engage in
manufacturing activities.
The foreign exchange earning on account of the operation of the Company
during the year was Rs. Nil.
PARTICULARS OF EMPLOYEES:
The statement showing particulars of employees under section 217(2A) of
the Companies Act, 1956, read with the companies (Particulars of
Employees) Rules, 1975, as amended, is not required to be given as
there were no employees coming within the purview of this section.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Directors of your Company confirm that:
i) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
ii) 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 or
loss of the Company for that period;
iii) 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;
iv) Directors have prepared the accounts on a "going concern basis".
ACKNOWLEDGEMENT:
Your Directors would like to express their sincere appreciation for the
assistance and co-operation received from the Banks, Government
Authorities, Customers, and Shareholders during the year. Your
directors also wish to take on record their deep sense of appreciation
for the committed services of the employees at all levels, which has
made our Company successful in the business.
For and on Behalf of the Board
For, CUPID TRADES AND FINANCE LIMITED
PLACE: MUMBAI
DATE: 03.08.2012
(DHARMESH PATEL)
CHAIRMAN
Mar 31, 2010
The directors have pleasure in presenting their Twenty-Forth Annual
Report and Audited Accounts for the year ended 31-3-2010
FINANCIAL RESULTS:
The working of the year ended 31st March 2010 shows a profit of
Rs. 27,23,592/- after making provision for taxation, which is
carried to Balance sheet along with the profit of the earlier year
Rs. 1,40,04,626/-
BOARD OF DIRECTORS :
Shri Shashikant S. Malaniretires by rotation and being eligible seeks
reelection.
AUDITORS :
The Auditors retire from the office at this Annual General Meeting and
are eligible for reappointment.
OTHER INFORMATION :
The other information required u/s217 (2A)and 217 (1E) of the companies
act 1956 are not applicable as no employee was in receipt of
remuneration to the extent laid down therein.
DEMATERIALISATION OF SHARE HOLDING :
The Companies script form part of the compulsory demat segment for all
investors. The company has established connectivity with both the
depositories viz NSDL and CDSL through the register M/s Adroit
Corporate Services Pvt. Ltd. ISIN of the company is INE 108G01010.
DIRECTORS RESPONSIABLITY STATEMENT :
Pursuant to an amendment to Section 217 of the Companies Act, 1956 your
Directors give here under responsibility Statements pertaining to the
accounts of the Company.
1. In the preparation of the Annual accounts, the applicable
accounting standards have been followed along wittv proper explanation
/ statement relating to material departures.
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 the
affairs of the Company as on 31st March. 2010 and of the Profits Loss
Account of the Company for the year ended on that date.
3. The Directors have 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. These accounts have been prepared on a going concern basis.
By order of the Board
JAGDISH S. MALANI
MUKESH N. MALANI
(Executive Director)
Directors
Place: Mumbai.
Dated : The 28 th day of May 2010
Mar 31, 2009
The directors have pleasure in presenting their Twenty-Third Annual
Report and Audited Accounts for the year ended 31-3-2009
FINANCIAL RESULTS:
The working of the year ended 31st March 2009 shows a profit of
Rs.21,99,093/- after making provision for taxation, which is carried to
Balance sheet along with the profit of the earlier year Rs.
1,18,05,533/-
BOARD OF DIRECTORS :
Shri Jagdish S. Malani retires by rotation and being eligible seeks
reelection.
Remuneration will be Rs. 9000/- pm to every Executive Director.
Shri Mukesh N. Malani & Shri. Ashok R. Kotharj appointed as "Excecutive
Directors" of the company & shall be liable to retire by rotation.
AUDITORS :
The Auditors retire from the office at this Annual General Meeting and
are eligible for reappointment.
OTHER INFORMATION :
The other information required u/s 217(2A)and 217 (1E) of the companies
act 1956 are not applicable as no employee was in receipt of
remuneration to the extent laid down therein.
DEMATERIALISATION OF SHARE HOLDING :
The Companies script form part of the compulsory demat segment for all
investors. The company has establised connectivity with both the
depositors viz NSDL and CDSL through the registrar M/s Adroit
Corporate Services Pvt. Ltd. ISIN of the company is INE 108G01010. Ã
DIRECTOR RESPONSIABLITY STATEMENTS :
Pursuant to an amendment to Section 217 of the Companies Act, 1956 your
Directors give here under responsibility Statements pertaining to the
accounts of the Company.
1. In the preparation of the Annual accounts, the applicable
accounting standards have been followed along with proper explanation /
statement relating to material departures.
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 the
affairs of the Company as on 31st March. 2009 and of the Profit & Loss
Account of the Company for the year ended on that date.
3. The Directors have 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. These accounts have been prepared on a going concern basis.
By order of the Board
JAGDISH S. MALANI
MUKESH N. MALANI
Place: Mumbai.
Dated : The 30 th day of June 2009 Directors
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