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Directors Report of Econo Trade (India) Ltd.

Mar 31, 2015

Dear Members,

The Directors have pleasure in presenting their report together with the audited Balance sheet as at 31st March 2015 and Statement of Profit & Loss for the year ended on that date.

Financial Results/ State of Affairs

Particulars 2014-2015 2013-2014 Profit Before Taxation and provision 1595926.74 1804192.45 for Standard Assets LESS Provision for Standard Asset -77851.00 2250.00 Profit Before Taxation 1673777.74 1801942.45 LESS : Provision For Income Tax 650000.00 637196.00 Profit / Loss After taxation 1023777.74 1164746.45 LESS Statutory Reserve 205000.00 233000.00 818777.74 0.00 Balance Brought forward from Balance 6254984,56 4504460.37 Sheet Balance carried forward to Balance 7073762.30 5436206.82 Sheet

Management Discussion and Analysis Report

As required under clause 49 of the listing Agreement with the Stock Exchanges, the management Discussion and Analysis report is enclosed as a part of this report.

Corporate Governance and Shareholders Information

Your Company has taken adequate steps to adhere to all the stipulations laid down in Clause 49 of the listing agreement. As report on Corporate Governance is included as part of this report. Certificate from the Statutory Auditors of the Company M/s Ashok Kumar Natwarlal & Co., Chartered Accountants confirming the compliance with the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is included as a part of this report.

Listing with Stock Exchanges

The Company has no such dues related to Annual listing Fees.

Dematerialisation of shares

As on 31st March 2015, 83.31% of the Company's total equity shares representing 1,55,53,023 equity shares were held in dematerialized form. The Company's registrar are M/s Niche Technologies Private Limited having their registered office at D/511 Bagree Market, 5th Floor, 71, B R B Basil Road Kolkata-700001.

Number of Board Meetings Held

The Board of Directors duly met Nine Times during the financial year from 1st April 2014 to 31st March 2015. The dates on which meetings were held are as follows:

05/04/2014,31 /05/2014, 01/07/2014, 11 /07/2014, 29/09/2014,31/10/2014, 01/12/2014, 13/01/2015, 30/03/2015

Directors

Pursuant to the Provisions of Section 161 (1) of the Companies Act, 2013 read with the Articles of Association of the Company, Smt Tuhina Rakshit is appointed as Additional Director of the Company with effect from 14.05.2015

Directos Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2013 Director of your company hereby state and confirm that:-

a) In the preparation of the annual accounts for the year ended 31st March 2015, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) 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 financial year and of the profit of the Company for the same period;

c) The directors have 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) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls in the company that are adequate are were operating effectively;

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively.

Audit Observations

Auditors' observation are suitably explained in notes to the Accounts and are self-explanatory.

Auditors:

a) Statutory Auditors:- The Auditors M/s Ashok Kumar Natwarlal and Co. Chartered Accountants, Kolkata retire at this

* Annual General Meeting and being eligible, offer themselves for reappointment.

b) Secretarial Audit:- According to the Provision of Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Secretarial Audit Report submitted by the Companies Secretary in Practice is enclosed as a part of this report.

c) Internal Auditors:- M/s J P Lakhotia & Associates are the Internal Auditors of the Company.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Information required under Section 134(3)(m) of the Companies Act, 2013 read with rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company.

Corporate Social Responsibility

In terms of Section 135 and Schedule VII of the Companies Act, 2013, the CSR is not applicable for the Company.

Vigil Mechanism

In pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013 a vigil Mechanism for Directors and Employee to report genuine concerns has been established.

Related Party Transactions

Related Party transactions does not entered with the any transaction of the Company. Hence, there is no related Party Transaction so the applicability of Form AOC-2 is not required.

Extracts of Annual Return

The details forming part of the Extract of the Annual Return in form MGT-9 is annexed.

Particulars of Loans, Guarantees or Investments

Details of Loans, Guarantees and Investments covered under the Provisions of Section 186 of the Companies Act, 2013 are given in the notes to the financial Statements.

Remuneration to the Directors/KMP

Sr Names Designation Remuneration Remuneration No. in 2015-2016 in 2014- 2015

1 Mr. Murari Agarwal Managing Director 1,20,000 Nil 2 Mr. Nitish Vyas * Company Secretary 50,000 Nil

* Mr. Nitish Vyas (Company secreatray) being resign w.e.f. 01.12.2014 and Mr. siddharth Sharma (Company Secretary) being appointed w.e.f. 30.03.2015

Acknowledgement

Directors deeply acknowledge the trust and confidence you have placed in the company. Director would also like to thank all its Banker, Customer, Vendors and Shareholders for their Continued support to the Company. In specific, the Board would also record its sincere appreciation of the Commitment and Contribution made by all employees of the Company.

Kolkata

BY ORDER OF THE BOARD For TRADE INDIA LIMITED Director


Mar 31, 2014

The Members of

M/S Econo Trade (India) Limited

The Directors have pleasure in presenting the Annual report together with Audited Accounts of the Company for the year ended 31st March 2014.

1. FLNANCIAL RESULTS:

The financial results of the company for the year ended 31st March, 2014 are summarized below:-

As On As on 31.03.2014 31.03.2013

Profit Before Taxation Taxation and Provision for Standard Assets 18,04,192.45 12, 70,354.60

LESS:- Provision for Standard Assets 2,250.00 1,46,085.00

Profit Before Taxation 18,01,942.45 11,24,269.60

LESS: Provision for Income Tax 6,30,000.00 5,81,431.00

:-Deferred Tax 7,196.00 1,340.00

Profit/Loss after Taxation 11,64,746.45 5,44,178.60

LESS: Statutory Reserve 2,33,000.00 1,08,850.00

9,31,746.45 4,35,328.60

ADD: Profit/ Loss Brought Forward 45,04,460.37 40,69,131.77

Balance Carried forward to Balance Sheet 54,36,206.82 45,04,460.37

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Directors

The articles of Association of the company provide that at least two-thirds of our Directors shall be subject to retirement by rotation and one third of these retiring directors must retire from office at each Annual General Meeting of the shareholders. A retiring director is eligible for re-election. Mr Murari Agarwal , Director of the company, shall retire at ensuing Annual General Meeting, and have offered himself for re-appointment. Mr. Suresh Kumar Jain and Mr. Bhawani Shankar Darak are appointed as additional director with effect from 24/02/2014.

4. Auditors

M/s. ASHOK KUMAR NATWARLAL & CO., Chartered Accountants, retires and is eligible for re-appointment.

5. Directors'' Responsibility Statement

As stipulated, your Directors affirm their commitment to the Directors'' Responsibility Statement as below :

The directors state that in preparation of the Annual Accounts, your Company has followed the applicable accounting standards with proper explanations relating to material departures. 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 your Company at the end of the financial year ended 31st March, 2014 and of the profit or loss for the year. 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 your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

6. Corporate Governance

The Company is committed to maintain the highest standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI. The Company has also implemented several body Corporate governance practices as prevalent globally.

The report on Corporate governance as stipulated under clause 49 of the listing agreement forms part of the Annual Report.

The requisite certificate from the Auditors of the company confirming compliance with the conditions of Corporate governance as stipulated under the aforesaid clause 49, is attached to the report on corporate governance.

7. Conservation of Energy

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules,1988, regarding conservation of energy, this is to stated that the Company not being a manufacturing Company, has not consume energy of any significant level and accordingly no measures are required to be taken for energy conservation.

8. Particulars of Employees

Provision of Section 217(2A) of the Companies Act, 1956 is not applicable as no employees were in receipt of remuneration to the extent laid down therein.

9. Absorption of Technology

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding technology, it is to state that there has been no transaction relating to technology during the year.

10. Acknowledgement

Directors deeply acknowledge the trust and confidence you have placed in the company.Directors would also like to thank all its bankers, customers, vendors and shareholders for their continued support to the Company. In specific, the Board would also record its sincere appreciation of the commitment and contribution made by all employees of the Company.



Kolkata BY ORDER OF THE BOARD Dated: the 31st day of may 2014 S Sujay Rakshit Director


Mar 31, 2013

DEAR MEMBERS,

THE DIRECTORS HAVE PLEASURE IN PRESENTING THE ANNUAL REPORT TOGETHER WITH AUDITED ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED 31st MARCH 2013.

1. FINANCIAL RESULTS:

The financial results of the company for the year ended 31st March. 2013 are summarized below:-

As On As on

31.03.2013 31.03.2012

PROFIT BEFOR TAXATION & PROVISION 12. 70,354.60 10.21,588.43 OF STDS ASSETS

LESS:- PROVISION FOR STANDARD 1.46.085.00 4,48.525.00 ASSETS

PROFIT BEFORE TAXATION 11,24,269.60 5.73,063.43

LESS: PROVISION FOR INCOME TAX 5.81.431.00 3.55.235.00

ADD:-DEFERRED TAX LIABILITIES 1,340.00 -

PROFIT/LOSS AFTER TAXATION 5.44.178.60 2,17.828.43

LESS: STATUTORY RESERVE 1.08.850.00 1.33.270.00

4.35,328.60 84.558.43

ADD: PROFIT/LOSS BROUGHT FORWARD 40,69.131.77 39.84.573.34

BALANCE CARRIED FORWARD TO BALANCE 45,04,460.37 40.69.131.77 SHEET

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Auditors

M/s. ASHOK KUMAR NATWARLAL & CO.. Chartered Accountants, retires and is eligible for re-appointment.

4. Directors’ Responsibility Statement

As stipulated, your Directors affirm their commitment to the Directors’ Responsibility Statement as below :

The directors state that in preparation of the Annual Accounts, your Company has followed the applicable accounting standards with proper explanations relating to material departures. 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 your Company at the end of the financial year ended 31st March, 2013 and of the profit or loss for the year. 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 your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

5. Conservation of Energy

In accordance with the provisions of Section 217(1 )(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules,1988, regarding conservation of energy, this is to stated that the Company not being a manufacturing Company, has not consume energy of any significant level and accordingly no measures are required to be taken for energy conservation.

6. Foreign Exchange

In accordance with the provisions of Section 217( 1 )(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding Foreign Exchange, it is to state that there has been no transaction relating to Foreign exchange during the year.

7. Particulars of Employees

Provision of Section 217(2A) of the Companies Act, 1956 is not applicable as no employees were in receipt of remuneration to the extent laid down therein.

8 . Absorption of Technology

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding technology, it is to state that there has been no transaction relating to technology during the year.

9. Acknowledgement

Directors deeply acknowledge the trust and confidence you have placed in the company. Directors would also like to thank all its bankers, customers, vendors and shareholders for their continued support to the Company. In specific, the Board would also record its sincere appreciation of the commitment and contribution made by all employees of the Company.

BY ORDER OF THE BOARD Sujay Rakshit Kolkata Director


Mar 31, 2012

THE DIRECTORS HAVE PLEASURE IN PRESENTING THE ANNUAL REPORT TOGETHER WITH AUDITED ACCOUNTS OF THE COMPANY FOR THE YEAR ENDED 31ST MARCH 2012.

1. FINANCIAL RESULTS:

The financial results of the company for the year ended 31st March, 2012 are summarized below-

As On 31.03.2012 Rs. P.

PROFIT BEFOR TAXATION & DEPRIVATION 10 68 253 43

LESS: DEPRECIATION 700.00

PROFIT BEFORE TAXATION 10, 67,553 43

LESS: PROVISION FOR INCOME TAX 4, 01 ''200.00

PROFIT/LOSS AFTER TAXATION 6 66 353 43

LESS: STATUTORY RESERVE 1,''33''270 00

PROVISION FOR STANDARD ASSET 4, 48,525.00

84,558.43 ADD: PROFIT / LOSS BROUGHT FORWARD 39, 84,573.34

BALANCE CARRIED FORWARD TO BALANCE SHEET 40, 69,131.77

2. Dividend

Your Directors have not recommended dividend in respect of Equity Shares.

3. Auditors

M/s. ASHOK KUMAR NATWARLAL & CO., Chartered Accountants, retires and is eligible for re-appointment.

4. Directors'' Responsibility Statement

As stipulated, your Directors affirm their commitment to the Directors'' Responsibility Statement as below :

The directors state that in preparation of the Annual Accounts, your Company has followed the applicable accounting standards with proper explanations relating to material departures. 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 your Company at the end of the financial year ended 31st March 2012 and of the profit or loss for the year. The Directors have taken proper and sufficient care for the maintenance o''f adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of your Company and for preventing and detecting frauds and other irregularities. The annual accounts of your Company have been prepared on a going concern basis.

5. Secretarial Compliance Certificate

Compliance Certificate pursuant to the provisions of section 383A of the Companies Act, 1956 is attached with this report.

6. Conservation of Energy

In accordance with the provisions of Section 217(l)(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules,1988, regarding conservation of energy, this is to stated that the Company not being a manufacturing Company, has not consume energy any significant level and accordingly no measures are required to be taken for energy conservation.

7. Foreign Exchange

In accordance with the provisions of Section 217(1 )(e) of the Companies Act, 1956, read with companies (Disclosures of particulars in the report of Board of Directors) Rules, 1988, regarding Foreign Exchange, it is to state that there has been no transaction relating to Foreign exchange during the year.

8. Particulars

Provision of Section 272(2A) of the Companies Act, 1956 is not applicable as no employees were in receptor was remuneration to the extent laid down therein.

Kolkata

BY ORDER OF THE BOARD

Sujay Rakshit

Director

 
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