Mar 31, 2015
Dear members,
The Directors have pleasure in presenting their 31 st Annual Report
on the business and operations of the Company and the accounts for the
Financial Year ended March 31,2015.
1. Financial summary:
2014-2015 2013-14
Particulars Rs. Rs.
Profit/(Loss) for the year before
Depreciation 74,120 2,44,720
Less: Depreciation 0 0
Prcfit/(Loss) for the year
before taxation 74,120 2,44,720
Less: Provision for taxation 15,000 50,000
Profit/(Loss) after taxation 59,120 1,94,720
Add : Balance as per last BIS. 47,65,926 45,71,206
Profit/(Loss) available for
appropriation 48,25,046 47,65,926
Balance carried to B/S 48,25,046 47,65,926
2. Company's working during the year:
The Company in the last two decades has not had any significant
working/operations, which is clearly evidenced in the previous
financial statements. Even the project at village Zanzaroli, Paighar
has failed to take off. Lands in rural areas lack infrastructure, are
prone to encroachments and are often subject of frivolous claims and
proceedings. The total investment stands at Rs. 83,61,000 and whereas
the fair market value, as per the stamp duty Ready Reckoner, issued by
the government, stands at about Rs. 1,30,00,000/-. The company has
been without funds and is unable to raise capital for doing business
of Real Estate, which requires huge capital. The management is
considering to liquidate the land at Zanzaroli, Paighar, which may
provide momentum. In the present circumstances the future prospects of
the Company remain low.
3. Dividend:
In view of insignificant profits due to lack of business, there are no
funds available for distribution and hence the Directors do not
recommend any dividend for the year.
4. Reserves:
Surplus in the Statement of Profit and Loss account has been carried
to Balance Sheet.
5. Directors and Key Managerial Personnel:
Mr. Kishore Kanungo (DIN: 00568416), Director retires by rotation at
the forthcoming Annual General Meeting and being eligible, offers
himself for reappointment.
Ms. Anita Kanungo (DIN: 05323368) was appointed as an Additional
Director on March 19, 2015. The term of her office ceases at the
ensuing Annual General Meeting. The Company has received a notice
under Section 160 of the Companies Act, 2013 proposing the candidature
of Ms. Anita Kanungo for the office of Director of the Company. Your
Directors recommend her appointment as Director of the Company.
Pursuant to Sections 149, 152 and all other applicable provisions of
the Companies Act, 2013, read with the Companies (Appointment and
Qualification of Directors) Rules, 2014 and other applicable
provisions, if any, the Independent Directors can hold office for a
term of five consecutive years on the Board of Directors of your
Company Accordingly, it is proposed to appoint the following existing
Directors as Independent Directors for five consecutive years for a
term upto 31 st March, 2020, subject to approval of Members at the
ensuing Annual General Meeting of your Company.
1. Mr. Jagdish Vora (DIN: 00568638)
2. Mr. Mehboob Pradhan (DIN: 00568706)
These Independent Directors shall not be liable to retire by rotation.
Mr. Sanjay Kanungo (DIN: 00568508) holds office as Chief Financial
Officer w.e.f. 19th March, 2015.
6. Particulars of Employees:
None of the employees of the Company were in receipt of remuneration
in excess of the limits mentioned in Rule 5 of Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.
7. Meetings of the Board:
During the year, five Board Meetings were convened and held on the
following dates: 21st April, 2014,18th July, 2014, 20th October, 2014,
20th January, 2015 and 19th March, 2015.
The intervening gap between the Meetings was within the period
prescribed under the Companies Act, 2013.
8. Board Evaluation:
As stated, there being no business since many years including this
year, interalia due to lack of capital/funds, the purpose of an annual
evaluation of its own performance, pursuant to the provisions of the
Companies Act, 2013, is brief.
Since the paid-up capital of the Company is not exceeding Rs. 10
crores and also the net worth of the Company has never been Rs. 25
crores or more at any time in the history of the Company, Corporate
Governance is not applicable to the Company.
9. Declaration by Independent Directors:
The Company has received declarations from the Independent Directors
that they meet the criteria of independence as provided in sub-section
(6) of Section 149 of the Companies Act, 2013.
10. Remuneration Policy:
For the reasons stated earlier, the requirement and formation of a
recommendation of the Nomination & Remuneration Committee is at
present redundant, as there are no employees and nor are any directors
drawing any remuneration.
11. Auditors:
M/s. Pankaj B Mehta & Co., Chartered Accountants, the statutory
auditors of the Company, hold office till the conclusion of the
forthcoming Annual General Meeting and are eligible for
re-appointment. Pursuant to the provisions of Section 139(2) ofthe
Companies Act, 2013 and the Rules framed thereunder, it is proposed to
re-appoint M/s. Pankaj B Mehta & Co. as Statutory Auditors of the
Company from the conclusion ofthe forthcoming Annual General Meeting
till the conclusion of the 33rd Annual General Meeting.
You are requested to appoint auditors and fix their remuneration.
The Auditors' Report does not contain any qualification.
12. Secretarial Audit Report:
In terms of Section 204 ofthe Act and Rules made thereunder, M/s. A. U
Thakurdesai & Co., Practicing Company Secretaries have been appointed
Secretarial Auditors of the Company.
The report ofthe Secretarial Auditors is enclosed as Annexure li to
this report. The Company is unable to find a qualified Company
Secretary due to lack of inclination shown by candidates citing
reasons of lack of incentive and job satisfaction owing to
insignificant business operations coupled with the insufficient
financial capacity of the company to pay according to their
qualifications.
13. Internal Audit & Controls:
During the year, M/s Sujoy P Mehta & Associates, Chartered
Accountants, were appointed as Internal Auditors of the Company.
14. Vigil Mechanism:
There are no employees presently in the employment of the company and
there are hardly any business operations. In view of these
circumstances there appears no need for a vigil mechanism. As and when
the Company's business operations commence, a Vigil Mechanism will
be established for directors and employees to report genuine concerns,
as required under Section 177(9) & (10) ofthe Companies Act, 2013.
15. Risk management policy
The Company in the last two decades has not had any significant
working/operations, which is clearly evidenced in the previous
financial statements. The management is considering to liquidate the
land at Zanzaroli, Palghar, which may provide momentum.
16. Extract Of Annual Return:
As required pursuant to section 92(3) of the Companies Act, 2013 and
rule 12(1) of the Companies (Management and Administration) Rules,
2014, an extract of annual return in MGT 9 as a part of this Annual
Report as ANNEXURE I.
17. Material changes and commitments affecting the financial position
of the company :
There were no material changes in the financial position of the
Company which have occurred between the end of the financial year of
the company to which the financial statements relate and the date of
the report.
18. Details of adequacy of internal financial controls with reference
to the Financial Statements:
The Company has internal financial controls which are adequate for
ensuring the orderly and efficient conduct of the business, including
adherence to the Company's policies, the safe guarding of assets,
the prevention and detection of frauds and errors, the accuracy and
completeness of accounting records and timely preparation of reliable
financial information.
19. Deposits:
During the year under review, the Company has not accepted any
deposits.
20. Particulars of loans, guarantees or investments:
During the year under review the Company has neither made any loans or
investments nor given any guarantees given under the provisions of
Section 186 of Companies Act, 2013.
21. Particulars of contracts or arrangements with related parties:
There are no contracts or arrangements entered into with related
parties referred to in Section 188(1) of Companies Act, 2013.
22. Disclosure Under The Sexual Harassment Of Women At Workplace
(Prevention, Prohibition And Redressal) Act, 2013:
Since the Company is not having any women employees on its payroll as
on date, the Company has not framed any policy for prevention of
Sexual Harassment of Women at Workplace.
23. Conservation of energy, technology absorption and foreign exchange
earnings and outgo:
a) The disclosure pursuant to Section 217(1) (e) of the Companies Act,
1956, read with the Companies (Disclosure of particulars in the Report
of Board of Directors) Rules, 1988 in terms of Conservation of Energy
and Technology Absorption is not required to be given considering the
nature of Company's business.
b) Foreign Exchange Earnings and Expenditure: NIL
24. Human Resources:
The Company has no employee since 1st July, 2015.
25. Directors' Responsibility Statement:
The Board of Directors confirms that:
(a) in the preparation of the annual accounts, 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 at the end of the financial year 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 this Act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern
basis; and
(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.
(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.
26. Transfer of Amounts to Investor Education and Protection Fund:
Your Company did not have any funds lying unpaid or unclaimed for a
period of seven years. Therefore, there were no funds which were
required to be transferred to Investor Education and Protection Fund
(IEPF).
27. Listing With Stock Exchanges:
The Company confirms that it has paid the Annual Listing Fees for the
year 2015-2016 to BSE Limited, where the Company's Shares are
listed.
28. Acknowledgements:
The Board place on record its appreciation for the support and
co-operation your Company has been receiving from its investors,
customers, vendors, bankers, financial institutions, business
associates, Regulatory authorities and Stock Exchanges.
For and on behalf of the Board Of Directors
Sd/-
SANJAY KANUNGO
Place: Mumbai Managing Director
Date : 27th April, 2015 (DIN: 00568508)
Mar 31, 2014
Dear Members,
The Directors present their 30th Annual Report and Audited Accounts of
the Company for the year ended March 31, 2014
FINANCIAL HIGHLIGHTS
Year ended Year ended
31.03.2014 31.03.2013
Rs. Rs.
Profit / (Loss) for the year
before Depreciation 244,720 260,435
Less: Depreciation 0 0
Profit / (Loss) for the year before
taxation 244,720 260,435
Less: Provision for taxation 50,000 50,000
Profit/(Loss) after taxation 194,720 210,435
Add: Balance as per last B/S. 4,571,206 4,360,771
Profit / (Loss) available for
appropriation 4,765,926 4,571,206
Balance carried to B/S 4,765,926 4,571,206
OPERATION
No dividend is recommended for the year under report.
Status of the project at Village Zanjaroli, Palghar has remained
unchanged.
RESPONSIBILITY STATEMENT
The Directors confirm:
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and no material departures have
been made from the same;
b) that they 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 and of the Profit of the
company for that period;
c) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
d) That they have prepared the annual accounts on a going concern
basis.
DIRECTORS :
In accordance with provisions of Articles of Association of the
Company, Mr. Jagdish Vora retires by rotation and being eligible offers
himself for re-appointment.
AUDITORS :
M/s. Pankaj B. Mehta & Company, the Auditors of the Company retire at
the conclusion of the forthcoming Annual General Meeting and are
eligible to be re-appointed.
COMPLIANCE CERTIFICATE :
Compliance Certificate under Section 383 A of the Companies Act, 1956
from the practicing Company Secretary is attached.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS/ OUTGOINGS :
The information required by Section 217(1) (e) of the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
the Board of Directors) Rules, 1988 with respect of conservation of
energy, technology absorption and foreign exchange earnings/ outgo is
appended hereto and forms part of this report.
PARTICULARS OF THE EMPLOYEES :
None of the Company''s employees were in receipt of remuneration in
excess of the limits mentioned in section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
The Board wishes to record its appreciation for the continued support
extended to the management by the Company''s employees, bankers and the
shareholders.
Registered Office : For AND ON BEHALF OF THE
B/709, Sagar Tech Plaza,
Andheri Kurla Road, BOARD OF DIRECTORS
Sakinaka Junction, Andheri (E),
Mumbai 400072. Sd/-
Place : Mumbai SANJAY KANUNGO
Date : 21st April, 2014 Managing Director
Mar 31, 2013
TO THE SHAREHOLDERS
The Directors present their 29th Annual Report and Audited Accounts of
the Company for the year ended March 31, 2013
FINANCIAL HIGHLIGHTS Year ended Year ended
31.03.2013 31.03.2012
Rs. Rs.
Profit(Loss) for the year before
Depreciation 260,435 316,221
Less: Depreciation 0 0
ProfiV(Loss) for the year before taxation 260,435 316,221
Less: Provision for taxation 50,000 60,000
Short provision for last year 0 940
ProfiV(Loss) after taxation 210,435 255.281
Add : Balance as per last B/S. 4,360,771 4,105,490
ProfiV(Loss) available for appropriation 4,571,206 4,360,771
Balance carried to B/S 4,571,206 4,360,771
OPERATION
No dividend is recommended for the year under report.
Status of the project at Village Zanjaroli, Palghar has remained
unchanged.
RESPONSIBILITY STATEMENT
The Directors confirm:
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and no material departures have
been made from the same;
b) that they 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 and of the Profit of the
company for that period;
c) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
d) That they have prepared the annual accounts on a going concern
basis.
DIRECTORS :
In accordance with provisions of Articles of Association of the
Company, Mr. Mehboob Pradhan retires by rotation and being eligible
offers himself for re-appointment.
Mr. Sanjay Kanungo has been re-appointed as a Managing Director of the
Company without any remuneration for a period of 3 years w.e.f.
26.07.2013.
AUDITORS :
M/s. Pankaj B. Mehta & Company, the Auditors of the Company retire at
the conclusion of the forthcoming Annual General Meeting and are
eligible to be re-appointed.
COMPLIANCE CERTIFICATE :
Compliance Certificate under Section 383 A of the Companies Act, 1956
from the practicing Company Secretary is attached.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS/ OUTGOINGS:
The information required by Section 217(1) (e) of the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
the Board of Directors) Rules, 1988 with respect of conservation of
energy, technology absorption and foreign exchange earnings/ outgo is
appended hereto and forms part of this report.
PARTICULARS OF THE EMPLOYEES :
None of the Company''s employees were in receipt of remuneration in
excess of the limits mentioned in section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
The Board wishes to record its appreciation for the continued support
extended to the management by the Company''s employees, bankers and the
shareholders.
Registered Office : For AND ON BEHALF OF THE
B/709, Sagar Tech Plaza BOARD OF DIRECTORS
Sakinaka, Andheri Kurla Road, Andheri (E), Sd/-
Mumbai 400072. SANJAY KANUNGO
Managing Director
Place: Mumbai
Date: 27th May 2013
Mar 31, 2012
The Directors present their 28th Annual Report and Audited Accounts of
the Company for the year ended March 31, 2012
FINANCIAL HIGHLIGHTS Year ended Year ended
31.03.2012 31.03.2011
Rs. Rs.
Profit/(Loss) for the year before
Depreciation 316,221 222,086
Less: Depreciation 0 0
Profit/(Loss) for the year before taxation 316,221 222,086
Less: Provision for taxation 60,000 42,500
Short provision for last year 940 0
Profit/(Loss) after taxation 255,281 179,586
Add : Balance as per last B/S. 4,105,490 3,925,904
Profit/(Loss) available for appropriation 4,360,771 4,105,490
Balance carried to B/S 4,360,771 4,105,490
No dividend is recommended for the year under report.
Status of the project at Village Zanjaroli, Palghar has remained
unchanged. Potential of development is largely dependent upon the
infrastructure including the means of transport of which the extension
of services of the local trains is one, while as per newspaper reports
is largely dependent upon the Western Railway adding two more lanes.
RESPONSIBILITY STATEMENT
The Directors confirm :
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and no material departures have
been made from the same;
b) that they 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 and of the Profit of the
company for that period;
c) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
d) That they have prepared the annual accounts on a going concern
basis.
DIRECTORS :
In accordance with provisions of Articles of Association of the
Company, Mr. Kishore Kanungo retires by rotation and being eligible
offers himself for re-appointment.
AUDITORS :
M/s. Pankaj B. Mehta & Company, the Auditors of the Company retire at
the conclusion of the forthcoming Annual General Meeting and are
eligible to be re-appointed.
COMPLIANCE CERTIFICATE :
Compliance Certificate under Section 383 A of the Companies Act, 1956
from the practicing Company Secretary is attached.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS/ OUTGOINGS :
The information required by Section 217(1) (e) of the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
the Board of Directors) Rules, 1988 with respect of conservation of
energy, technology absorption and foreign exchange earnings/ outgo is
appended hereto and forms part of this report. PARTICULARS OF THE
EMPLOYEES :
None of the Company's employees were in receipt of remuneration in
excess of the limits mentioned in section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
The Board wishes to record its appreciation for the continued support
extended to the management by the Company's employees, bankers and the
shareholders.
Registered Office : FOR AND ON BEHALF OF THE
B/709, Sagar Tech Plaza, BOARD OF DIRECTORS,
Sakinaka Junction,
Andheri Kurla Road, Sd/-
Andheri (E), Mumbai 400072. SANJAY KANUNGO
Managing Director
Place : Mumbai
Date : 16-05-2012
Mar 31, 2011
DIRECTORS' REPORT TO THE SHAREHOLDERS
The Directors present their 27th Annual Report and Audited Accounts of
the Company for the year ended March 31, 2011
FINANCIAL HIGHLIGHTS Year ended Year ended
31.03.2011 31.03.2010
Rs. Rs.
ProfiV(Loss) for the year before 222,086 (81,129)
Depreciation
Less :Depreciation - -
Profit/(Loss) for the year before 222,086 (81,129)
Less: Provision for taxation 42,500 -
Short provision for last year - 160
ProW(Loss) after taxation 179,586 (81,289)
Add : Balance as per last B/S. 3,925,904 4,007,193
Profit/(Loss) available for 4,105,490 3,925,904
appropriation
Balance carried to B/S 4,105,490 3,925,904
No dividend is recommended for the year under report.
Status of the project at Village Zanjaroli, Taluka Palghar has remained
unchanged. Potential of development is largely dependent upon the
infrastructure including the means of transport of which the extension
of services of the local trains is one.
RESPONSIBILITY STATEMENT
The Directors confirm :
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and no material departures have
been made from the same;
b) that they 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 and of the Profit of the
company for that period;
c) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
d) That they have prepared the annual accounts on a going concern
basis.
DIRECTORS :
In accordance with provisions of Articles of Association of the
Company, Mr. Jagdish Vora retires by rotation and being eligible offers
himself for re-appointment.
AUDITORS :
M/s. Pankaj B. Mehta & Company, the Auditors of the Company retire at
the conclusion of the forthcoming Annual General Meeting and are
eligible to be re-appointed.
COMPLIANCE CERTIFICATE :
Compliance Certificate under Section 383 A of the Companies Act, 1956
from the practicing Company Secretary is attached.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS/ OUTGOINGS:
The information required by Section 217(1) (e) of the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
the Board of Directors) Rules, 1988 with respect of conservation of
energy, technology absorption and foreign exchange earnings/ outgo is
appended hereto and forms part of this report.
PARTICULARS OF THE EMPLOYEES :
None of the Company's employees were in receipt of remuneration in
excess of the limits mentioned in section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
The Board wishes to record its appreciation for the continued support
extended to the management by the Company's employees, bankers and the
shareholders.
FOR AND ON BEHALF OF THE
BOARD OF DIRECTORS,
Sd/-
SANJAY KANUNGO
Managing Director
Registered Office:
B/709, Sagar Tech Plaza,
Sakinaka Junction,
Andheri Kurla Road,
Andheri (E), Mumbai 400072.
Place : Mumbai
Date : 26-07-2011
Mar 31, 2010
The Directors present their 26th Annual Report and Audited Accounts of
the Company for the year ended March 31, 2010.
FINANCIAL HIGHLIGHTS Year ended Year ended
31.03.2010 31.03.2009
Rs. Rs.
Profit/(Loss) for the year
before Depreciation (81,129) 11,723
Add / Less : Depreciation -- --
Profit/(Loss) for the year
before taxation (81,129) 11,723
Add / Less: Provision for taxation -- 1,500
Short provision for last year 160 181
Loss / Profit after taxation (81,289) 10,042
Add : Balance as per last B/S. 40,07,193 39,97,151
Profit / (Loss) available
for appropriation 39,25,904 40,07,193
Balance carried to B/S 39,25,904 40,07,193
No dividend is recommended for the year under report.
The Company is in possession of non- agricultural property near Kelve
Road railway station. At present the said property is approved as a
lay-out of smaller plots for a bungalow scheme catering to the middle
income group. The extension of local train services to Kelve Road
railway station has not fructified. With the commencement of local
train services, potential of this property could change and development
for low income housing could become a possibility. This segment
possesses a huge demand as the supply for smaller flats is decreasing
and prices for the few that remain in Mumbai and its extended suburbs,
is continuously rising. The company shall evaluate this potential after
the local train services begin.
RESPONSIBILITY STATEMENT
The Directors confirm :
a) that in the preparation of the annual accounts, the applicable
accounting standards have been followed and no material departures have
been made from the same;
b) that they 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 and of the Loss of the
company for that period;
c) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
d) That they have prepared the annual accounts on a going concern
basis.
DIRECTORS :
In accordance with provisions of Articles of Association of the
Company, Mr. Mehboob Pradhan retires by rotation and being eligible
offers himself for re-appointment.
Mr. Sanjay Kanungo has been appointed as a Managing Director of the
Company for a period of 3 years with effect from 26.07.2010 without any
remuneration subject to approval by the members in the General Meeting.
AUDITORS :
M/s. Pankaj B. Mehta & Company, the Auditors of the Company retire at
the conclusion of the forthcoming Annual General Meeting and are
eligible to be re-appointed.
COMPLIANCE CERTIFICATE :
Compliance Certificate under Section 383 A of the Companies Act, 1956
from the practicing Company Secretary is attached.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS/ OUTGOINGS :
The information required by Section 217(1) (e) of the Companies Act,
1956 read with Companies (Disclosure of Particulars in the Report of
the Board of Directors) Rules, 1988 with respect of conservation of
energy, technology absorption and foreign exchange earnings/ outgo is
appended hereto and forms part of this report.
PARTICULARS OF THE EMPLOYEES :
None of the Companys employees were in receipt of remuneration in
excess of the limits mentioned in section 217(2A) of the Companies Act,
1956 read with the Companies (Particulars of Employees) Rules, 1975.
The Board wishes to record its appreciation for the continued support
extended to the management by the Companys employees, bankers and the
shareholders.
Registered Office : FOR AND ON BEHALF OF THE
B/709, Sagar Tech Plaza, BOARD OF DIRECTORS,
Sakinaka Junction,
Andheri Kurla Road, Sd/-
Andheri (E), Mumbai 400072. SANJAY KANUNGO
Managing Director
Place : Mumbai
Date : 21-07-2010