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Directors Report of Goldline International Finvest Ltd.

Mar 31, 2018

To,

The Members

Gold Line Infrastructure Finvest Limited

The Directors have pleasure in presenting the 26th Annual Report on the business and operations of the Company together with the Audited Statement of Accounts and the Auditors’ Report of your Company for the financial year ended, 31st March 2018.

FINANCIAL HIGHLIGHTS:

The summarized performance of the Company for the years 2017-18 and 2016-2017 is given below:

Particulars

For the Financial Year Ended

March 31, 2018 (in Rs)

March 31, 2017 (in Rs)

Total Income

1,63,08,911

4,13,72,396

Total Expenditure

1,56,84,289

4,03,48,848

Profit after Depreciation but before Tax

6,24,622

10,23,548

Less: Current Tax

(2,29,737)

(5,02,609)

Deferred Tax

(36,730)

(1,86,333)

Income Tax Adjustment

-

-

Profit From continuing Operations

4,31,615

7,07,272

Profit/(Loss) from discontinuing operations

-

-

Profit / (Loss) After Tax

4,31,615

7,07,272

FINANCIAL PERFORMANCE

During the year under review, Your Company has recorded a total income of Rs. 16,308,911 /- against Rs. 41,372,396 /- in the previous year. Profit after taxation for the financial year ended on 31st March, 2018 is Rs 431,615/- against Rs. 707,272 /- in the previous year.

RESERVE AND SURPLUS

Profit of Rs 431,615 /- is being transferred to the reserve and surplus.

DIVIDEND

To Plough back the profits into the business, the Board of Directors has not declared any dividend during the year.

CHANGE IN THE NATURE OF BUSINESS

During the year, the Company has not changed its nature of business.

DEPOSITS

The Company has not accepted deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and The Companies (Acceptance of Deposits) Rules, 2014. No amount of principal or interest was outstanding as on the date of Balance Sheet.

MATERIAL CHANGES AND COMMITMENTS. IF ANY, AFFECTING 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

There have been no material changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report.

POSTAL BALLOT

During the year under Review, No Postal Ballot has been conducted.

CHANGE OF REGISTRAR AND SHARE TRANSFER AGENT

There was no change found to the Share Transfer Agent during the period under review.

DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS

The Company has a formal system of internal control testing which examines both the design effectiveness and operational effectiveness to ensure reliability of financial and operational information and all statutory / regulatory compliances. The Company has a strong monitoring and reporting process resulting in financial discipline and accountability.

RISK MANAGEMENT POLICY

Therefore, in accordance with the provisions of the Companies Act, 2013, the Board members were informed about risk assessment and minimization procedures after which the Board formally adopted steps for framing, implementing and monitoring the risk management plan for the company.

The main objective of this policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. In order to achieve the key objective, the policy establishes a structured and disciplined approach to Risk Management, in order to guide decisions on risk related issues.

In today’s challenging and competitive environment, strategies for mitigating inherent risks in accomplishing the growth plans of the Company are imperative. The common risks inter alia are: Regulations, competition, Business risk, Technology obsolescence, Investments, retention of talent and expansion of facilities. Business risk, inter-alia, further includes financial risk, political risk, fidelity risk, legal risk. As a matter of policy, these risks are assessed and steps as appropriate are taken to mitigate the same.

PARTICULARS OF EMPLOYEES AND OTHER DISCLOSURE

The prescribed particulars of Employees required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed herewith as Annexure to this Report. The information required pursuant to Section 197(12) read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of Employees of the Company, will be provided on request. In terms of Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the information on employees particulars mentioned in rule 5(2) of the said rule which is available for inspection by the Members at the Registered Office of the Company during the business hours on working days of the Company upto the date of ensuing Annual General Meeting. If any Member is interest in inspecting the same, such Member may write to the Compliance officer in advance.

NAME OF THE COMPANIES WHICH HAVE BEEN BECOME OR CEASED TO BE ITS SUBSIDIARIES AND ASSOCIATE COMPANIES DURING THE YEAR

Since the Company has no subsidiaries as on 31st March, 2018, provision of section 129 of the Companies Act, 2013 is not applicable.

STATE OF COMPANY AFFAIRS:

The Company is complying with all the applicable laws and provisions and there is no adverse action against the business operations of the Company.

SHARE CAPITAL

During the year under review, the Share Capital of the company has been no change.

AUDITORS’ REPORT

The Notes on Financial Statements referred to in the Auditors’ Report are self-explanatory and therefore, in the opinion of the Directors, do not call for further comments.

EXTRACT OF THE ANNUAL RETURN

Pursuant to the provisions of Sect ion 134 (3) (a) of the Companies Act, 2013, Extract of the 26th Annual Return for the financial year ended 31st March, 2018 made under the provisions of Sect ion 92 (3) of the Act in Form MGT -9 is annexed herewith as Annexure I.

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

The particulars as required under the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of The Companies (Accounts) Rules, 2014 in respect of Conservation of Energy and Technology Absorption have not been furnished considering the nature of activities undertaken by the Company during the year under review. There was no foreign exchange earning & outgo during the financial year under review.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

During the year under review, the Company is not required to comply with the provisions related to Corporate Social Responsibility on the basis of its financial statement.

DIRECTORS & COMMITTEES:

(a) Changes in Directors and Key Managerial Personnel

During the year under review, Ms. Nidhi Kachhap has been appointed as Additional Director (Non executive Non Independent Director) of the company with effect from March 27, 2018 and proposed to be designated to Director in this Annual General Meeting to accord the approval of the shareholders.

Further, during the year under review, Ms. Mamta and Ms. Archana Devi Directors of the company has resigned from the post with effect from March 13, 2018 and March 27th, 2018 respectively.

(b) Declaration by an Independent Director(s) and re- appointment, if any

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

Formal Annual Evaluation

Pursuant to the provisions of companies Act, 2013 and applicable provisions of Listing Agreement, the Board has carried out annual performance evaluation of its own performance, the directors individually as well the evaluation of the working of its Audit, Nomination & Remuneration and Stakeholder committee. The manner in which the evaluation has been carried out has been explained in Corporate Governance Report.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS a. BOARD MEETINGS

During the year, 8 (Eight) Board Meetings were convened and held. The details of which are given below. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013._

S. No.

Date of Meeting

Total No. of Directors the Date of Meeting on

No. of Directors Attended

1

30.05.2017

5

5

2

12.08.2017

5

5

3

01.09.2017

5

5

4

29.09.2017

5

5

5

09.11.2017

5

5

6

12.02.2018

5

5

7

13.03.2018

4

4

8

27.03.2018

4

4

EXTRAORDINARY GENERAL MEETINGS DURING THE FINANCIAL YEAR 2017-18

There is no Extraordinary General Meeting Convened during the Financial Year 2017-18.

AUDIT COMMITTEE

The Board has well-qualified Audit Committee with majority of Independent Directors including Chairman. They possess sound knowledge on Accounts, Audit, Finance, Taxation, Internal Controls etc.

The Audit Committee also advises the Management on the areas where internal control system can be improved. The Terms of reference of the Audit Committee are in accordance with Regulation 18 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Section 177 of the Companies Act, 2013 as follows:

- Oversight of the Issuer’s financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible;

- Recommending to the Board, the appointment, re-appointment and, if required, there

- Placement or removal of the statutory auditor and the fixation of audit fees.

- Approval of payment to Statutory Auditors for any other services rendered by the statutory auditors.

- Reviewing, with the management, the annual financial statements before submission to the board for approval, with particular reference to:

i. Matters required to be included in the Directors’ Responsibility Statement to be included in the Board’s report;

ii. Any changes in accounting policies and practices and reasons for the same;

iii. Major accounting entries involving estimates based on exercise of judgment by management;

iv. Significant adjustments made in the financial statements arising out of audit findings;

v. Compliance with listing and other legal requirements relating to financial statements;

vi. Disclosure to any related party transactions;

vii. Qualifications in the draft audit report.

- Reviewing with the management the half yearly financial statements before submission to the Board for approval.

- Reviewing with the management, performance of statutory and internal auditors, adequacy of internal control systems;

- Reviewing the adequacy of internal audit function, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit.

- Discussion with internal auditors any significant findings and follow up thereon;

- Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matters to the Board;

- Discussion with Statutory auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern;

- Carrying out any other function as is mentioned in the terms of reference of the Audit Committee.

COMPOSITION During the year ended on 31st March, 2018, the composition of Audit Committee has been as under:

a. Mr. Arun Kumar Das (Chairperson)

b. Mr. Ashish Kumar (Member)

c. *Ms. Nidhi Kachhap (Member)

d. *Ms. Mamta (Member)

*During the year under review, Ms. Mamta has resigned from the post of Director with effect from March 13, 2018 and Ms. Nidhi Kachhap has been appointed as Additional Director (Non executive Non Independent Director) of the company with effect from March 27, 2018.

During the Financial year 2017-18, Four (4) meeting of Audit Committee was held i.e. 30th May, 2017, 12th August, 2017, 09th November, 2017, 12th February, 2018.

NOMINATION & REMUNERATION COMMITTEE

The Company has duly constituted Nomination and Remuneration Committee to align with the requirements prescribed under the provisions of Section 178 of the Companies Act, 2013 and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements), 2015.

During the year ended on 31st March, 2018, the composition of Nomination and Remuneration Committee has been as under:

a. Mr. Arun Kumar Das (Chairperson)

b. Mr. Ashish Kumar (Member)

c. *Ms. Nidhi Kachhap (Member)

d. *Ms. Mamta (Member)

*During the year under review, Ms. Mamta has resigned from the post of Director with effect from March 13, 2018 and Ms. Nidhi Kachhap has been appointed as Additional Director (Non executive Non Independent Director) of the company with effect from March 27, 2018.

During the Financial year 2017-18, Four (4) meeting of Audit Committee was held i.e. 30th May, 2017, 12th August, 2017, 09th November, 2017, 12th February, 2018.

TERMS OF REFERENCE

The terms of reference of Remuneration Committee includes the following:

- The remuneration committee recommends to the board the compensation terms of the executive directors.

- The committee to carry out evolution of every director’s performance and recommend to the board his/her appointment and removal based on the performance.

- The committee to identify persons who may be appointed in senior management/Director in accordance with the criteria laid down.

- Framing and implementing on behalf of the Board and on behalf of the shareholders, a credible and transparent policy on remuneration of executive directors including ESOP, Pension Rights and any compensation payment.

- Considering approving and recommending to the Board the changes in designation and increase in salary of the executive directors.

- Ensuring the remuneration policy is good enough to attract, retain and motivate directors.

- Bringing about objectivity in deeming the remuneration package while striking a balance between the interest of the Company and the shareholders.”

STAKEHOLDER RELATIONSHIP COMMITTEE

The Company has duly constituted Stakeholder Relationship Committee to align with the requirements prescribed under the provisions of Section 178 of the Companies Act, 2013 and Regulation 20 of SEBI (Listing Obligations and Disclosure Requirements), 2015.

Our Company has constituted a Stakeholder Relationship Committee to redress the complaints of the shareholders. The committee currently comprises of three Directors. Mr. Arun Kumar Das is the Chairman of the committee.

a. Mr. Arun Kumar Das (Chairperson)

e. Mr. Ashish Kumar (Member)

f. *Ms. Nidhi Kachhap (Member)

g. *Ms. Mamta (Member)

*During the year under review, Ms. Mamta has resigned from the post of Director with effect from March 13, 2018 and Ms. Nidhi Kachhap has been appointed as Additional Director (Non executive Non Independent Director) of the company with effect from March 27, 2018.

During the Financial year 2017-18, Four (4) meeting of Audit Committee was held i.e. 30th May, 2017, 12th August, 2017, 09th November, 2017, 12th February, 2018.

ROLE OF STAKEHOLDER RELATIONSHIP COMMITTEE

The Stakeholder Relationship Committee of our Board look into:

- The redressal of investors complaints viz. non-receipt of annual report, dividend payments etc.

- Matters related to share transfer, issue of duplicate share certificate, dematerializations.

- Also delegates powers to the executives of our Company to process transfers etc.

DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES

During the year, as per Section 177(9) read with Rule 7(1) of The Companies (Meeting of Board and its Powers) Rules, 2014, Company is required to establish a Vigil Mechanism for its Directors and employees. In order to ensure that the activities of the Company and its employees are conducted in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior the company has adopted a vigil mechanism policy. This policy is explained in corporate governance report and also posted on the website of company.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

During the year, Company has not provided Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The Company has no material significant transactions with its related parties which may have a potential conflict with the interest of the Company at large. The details of transactions with the Company and related parties are given for information under notes to Accounts.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

In order to prevent sexual harassment of women at workplace; the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 are effective in the Company. Under the said Act every company is required to set up an Internal Complaints Committee to look into complaints relating to sexual harassment at workplace of any women employee. The Company has in place an Anti Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013. All women employees (permanent, contractual, temporary and trainee) are covered under this Policy.

The following is a summary of Sexual Harassment complaints received and disposed off during the year:

a. No. of Complaints received: 0

b. No. of Complaints disposed off : 0

SECRETARIAL AUDIT REPORT AND EXPLANATION TO THE QUALIFICATIONS REPORTED IN THE REPORT

Provisions relating to Secretarial Audit as per Section 204 read with Rule 9 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Ms. Bhawna, Practicing Company Secretaries to undertake the Secretarial audit of the Company. The Secretarial Auditor Report provided By the Secretarial Auditor in Form No. MR-3 has been enclosed as Annexure II.

Explanation to the observations as notice in the Audit Report: The Management is searching the best person for the positions and the Company will strive to complete the e - filing with Registrar of Companies, NCT of Delhi & Haryana timely and to provide the intimations to the Stock Exchanges timely.

CORPORATE GOVERNANCE REPORT

A report on Corporate Governance along with a certificate regarding the compliances with conditions of Corporate Governance as per Chapter IV of SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 is annexed to this report as Annexure III.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As required under Regulation 15 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report is presented in the separate section and forms an integral part of the Directors Report and attached as Annexure IV

DIRECTORS’ RESPONSIBILITY STATEMENT

The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state 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 and loss 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.

ACKNOWLEDGEMENT

The board wishes to express and place on records its gratitude for the faith reposed in and cooperation extended to the company by the shareholders of the company. Your directors wish to place on record their deep sense of appreciation for the devoted and sincere services of the executives, staff and workers of the company for its success.

FOR AND ON BEHALF OF THE BOARD

GOLD LINE INTERNATIONAL FINVEST LIMITED

Sd/- Sd/-

PROMOD PANDA ASHISH KUMAR

Director Director

Date :16.08.2018 DIN: 07421931 DIN: 07100211

Place : Delhi


Mar 31, 2014

To the Members,

The Directors have pleasure in presenting before you the 22nd Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2014.

FINANCIAL RESULTS

(Amt in Rs.)

S. No. Particulars 2013-14 2012-13

1. Total Income/Loss 1,23,82,568 46,48,332



2. Less: Total Expenses 1,00,15,252.79 36,83,370

3. Profit Before Tax 23,67,315.21 9,64,962



4. Current Tax 7,95,466 2,42,555



5. Profit/Loss after Tax 15,33,118.21 6,67,716



OPERATIONS

The Company achieved a turnover of Rs. 1.24 Crores during the current year, as against Rs. 0.46 Crores during the previous year. Net Profit before taxation for the financial year ended on 31st March, 2014 increased to Rs. 0.24 Crore against Rs. 0.09 Crore in the previous year.

DIVIDEND

To plough back the profits in to the business activities, no dividend is recommended this year.

DEPOSITS

During the year under review, Your Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975 as amended upto date.

LISTING OF EQUITY SHARES

Your Directors are pleased to inform you that the Company''s Equity Shares have been listed on BSE Limited on April 28, 2014 and the Company had paid listing fees to the Exchange for the year 2014-15.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As required by Clause 49 of the Listing Agreements with Stock Exchanges, the Management discussion and Analysis Report is enclosed as a part of this report (Annexure - I).

DEMATERIALISATION OF SHARES

60.98 % of the company''s paid up Equity Share Capital is in dematerialized form as on 31st March, 2014 and balance 39.02% is in physical form.

The Company''s Registrars is M/s Beetal Finance & Computer Services Private Limited, Beetal House, 3rd Floor, 99, Madangir, Behind Local Shopping Centre, Near Dada Harsukhdas Mandir, New Delhi – 110062

DIRECTORS

Mr. Mahesh Chand will retire by rotation at the ensuing annual general meeting and, being eligible offer, himself for reappointment.

DIRECTOR''S RESPONSIBILITY STATEMENT

As required under section 217 (2AA) of the companies act, 1956 Directors of your Company hereby state and confirm that:

(i) the applicable Accounting Standards have been followed in preparation of annual accounts;

(ii) the accounting policies selected were applied consistently and the judgments and estimates made are reasonable and prudent so as to give a true and fair view of the State of affairs of the Company as at 31st March, 2014 and of the profit for the year ended on that date;

(iii) proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) the Annual Accounts for the year ended 31st March, 2014 have been prepared on a going concern basis;

AUDIT OBSERVATIONS

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

AUDITORS

The Auditors, M/s Agrawal Goyal & Co. (Firm Registration number 004977C) Chartered Accountants, retire at the ensuing Annual General Meeting and, being eligible, offer themselves for reappointment.

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. A report on Corporate Governance is included as a part of this Annual Report (Annexure II).

Certificate from the Statutory Auditors of the company M/s Agrawal Goyal & Co., Chartered Accountants, confirming the compliance with the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is attached to this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE OUTGO

Information required under Section 217 (1) (e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in Directors'' Report) Rules, 1988 being not relevant/significant, are not given. There were no foreign exchange earnings or outgo during the year under review.

HUMAN RESOURCES

There are no employees as on date on the rolls of the Company who are in receipt of Remuneration which requires disclosures under Section 217 (2A) of the Companies Act, 1956 and Companies (Particulars of Employees) Rules, 1975.

During the year under review, relationship with the employees is cordial.

ACKNOWLEDGEMENT

Directors take this opportunity to express their thanks to various departments of the Central and State Government, Bankers, Material Suppliers, Customers and Shareholders for their continued support and guidance.

The Directors wish to place on record their appreciation for the dedicated efforts put in by the employees of the Company at all levels.

By Order of the Board of Directors

GOLD LINE INTERNATIONAL FINVEST LIMITED

Sd/- Sd/-

Place: New Delhi Mahendra Singh Arun Kumar Gupta

Date: 15/07/2014 Director Director

DIN: 06437665 DIN: 06447121


Mar 31, 2013

To The Members of M/s Gold Line International Finvest Limited,

The Directors have pleasure in presenting their 21stAnnual Report and Audited Statement of Accounts of the Company for the year ended on 31st March, 2013.

1. FINANCIAL HIGHLIGHTS:

Particulars Current Yr. 31.03.2013 Previous Yr. (Rs.) 31.03.2012 (Rs.)

Total Income/Loss 4648332 8,00,000

Less: Total Expenses 3683370 503054

Profit Before Tax 964962 296946

Profit/Loss after Tax 667716 205370

Less: Profit Brought from Previous Yr (978611) (1183981)

Balance carried to Balance Sheet (310896) (978611)

2. FINANCIAL PERFORMANCE

During the year under review, Your Company has recorded a total income of Rs. 46,48,332 against Rs. 8,00,000 in the previous year with total increase of Rs. 38,48,332. Net Profit before taxation for the financial year ended on 31st March, 2013 increased to Rs. 964962 from Rs. 296946 in the previous year. Consequently, the Profit'' after tax increase to Rs. 667716 from Rs. 205370 as .in the previous year.

3. ISSUE OF EQUTY SHARES

During the year under review, the Company has issued and allotted 48720500 Equity Shares of Rs. 10/- each on various dates and consequently, the Issued and Paid up share capital of the Company has increased from Rs. 3,37,60,000 divided into 3376000 equity shares of Rs. 10/- each to Rs. 52,09,65,000 divided into 52096500 equity shares of Rs. 10/- each.

4. DIVIDEND:

To plough back the profits in to the business activities, no dividend is recommended this year.

5. DEPOSITS :

During the year under review, Your Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975 as amended upto date.

4. STATUTORY AUDITORS :

M/s Thakur Saroj & Company, Chartered Accountants, Delhi, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting. The Company has received a letter from them to The effect that their appointment, if made, would be within the limits prescribed u/s 224(1B) of the Companies Act, 1956.

Therefore, the Board of Directors recommends their re appointment as Statutory Auditors of the Company.

5. DIRECTORS:

Mr. Mahender Singh Bisht, Mr. Arun Gupta and Mr. Mahesh Chand were appointed by the Board of Directors in their held on 1st November, 2012, 2»une, 2013 and 30th May, 2013 respectively.

Further, Mr. Ashok Marwah and Mr. Akshod Kumar Sharma were from the Directorship of the Company on 2nd June, 2013 and 30th May, 2013 respect resign .

In accordance with the provisions of the Articles of Association of the Company, Mr. Nihar Ranjan Mishra is due to- retire by rotation and being eligible, offer himself for re- appointment.

6. DIRECTOR''S RESPONSIBILITY STATEMENT

In compliance to the provisions of Section 217 (2AA) of the Companies Act, 1956, your Directors wish to place on record

(i) that in preparing the Annual Accounts, all the applicable accounting standards have been followed ;

(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 profit of the Company for that period;

(iii) that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing/detecting fraud and irregularities;

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

7. PERSONNEL :

During the year under review, no employee was in receipt of remuneration in excess of the prescribed limits as prescribed under Section 217 (2A) of the Companies Act, 1956 and the rules made there under as amended upto date.

8. CORPORATE GOVERNANCE

A report on Corporate Governance along with a certificate from the Auditors regarding the compliances with conditions of Corporate Governance in terms of Clause 49 of the Listing Agreement is annexed to this report.

9. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required under Clause 49 of the Listing Agreement with the Stock Exchange, the Management and Discussion and Analysis of the financial Condition and results of the operations of the Company under review forms part of the Annual Report.

10. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE :

Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of particular sin the report of Board of Directors) Rules 1988 being not relevant/ significant, are not given. There was no foreign exchange earning or outgo during the year under review.

APPRECIATION:

Your Directors wish to place on record their deep sense of appreciation of the devoted services rendered by the executives and bank etc.

FOR AND ON BEHALF OF THE BOARD

GOLD LINE INTERNATIONAL FINVEST LIMITED

SD/- SD/-

(MAHENDER SINGH BISHT) (ARUN KUMAR GUPTA)

DIRECTOR DIRECTOR

Place : New Delhi

Date :02/09/2013


Mar 31, 2012

To The Members of M/s Gold Line International Finvest Limited,

The Directors have pleasure in presenting their 20th Annual Report and Audited Statement of Accounts of the Company for the year ended on 31st March, 2012.

1. Financial Results :

Particulars Current Yr. 31.03.2012 Previous Yr. (Rs.) 31.03.2011 (Rs.)

Total Income/Loss 8,00,000 55375

Less: Total Expenses 503054 74038

Profit Before Tax 296946 (18663)

Profit/Loss after Tax 205370 (18663)

Less: Profit Brought from Previous Yr (1183981) (1165318)

Balance carried to Balance Sheet (978611) (1183981)

2. Dividend:

Due to losses the Company is not in the position to pay any dividend.

3. Deposits :

The Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975.

4. Auditors :

The Auditors M/s Thakur Saroj & Company, Chartered Accountants, Delhi, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting. The Company has received letter from them to the effect that their appointment, if made, would be within the limits prescribed U/s 224(1B) of the Companies Act, 1956. Accordingly, M/s Thakur Saroj & Company, Chartered Accountants, are required to be reappointed as Statutory Auditors of the Company at the ensuing Annual General Meeting.

5 Auditor''s Report :

There is no adverse qualification/remark in the Auditor''s Report

6 Directors:

In accordance with the provisions of the Articles of Association of the Company Mr. Ashok Marwah is due to retire by rotation and being eligible, offer himself for re-appointment.

7 Director''s Responsibility Statement :

In compliance to the provisions of Section 217 (2AA) of the Companies Act, 1956, your Directors wish to place on record –

(i) that in preparing the Annual Accounts, all the applicable accounting standards have been followed ;

(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 profit of the Company for that period;

(iii) that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing/detecting fraud and irregularities;

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

8 Personnel :

As no employee is in receipt of remuneration in excess of the prescribed limits, information under Section 217 (2A) may be treated as nil.

9 Compliance Certificate from Company Secretary in Practice :

A Certificate of compliance by a Company Secretary in practice referred to in the proviso to sub-section (1) of Section 383A of the Companies Act, 1956 read with Rule 2(b), 2(c) & Rule 3 of the Companies (Compliance Certificate) Rules, 2001 is annexed herewith as Annexure-A.

10 Energy, Technology & Foreign Exchange :

Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 being not relevant/significant, are not given. There was no foreign exchange earning or outgo during the year under review.

Appreciation:

Your Directors wish to place on record their deep sense of appreciation of the devoted services rendered by the executives and bank etc.

FOR AND ON BEHALF OF THE BOARD

GOLD LINE INTERNATIONAL FINVEST LIMITED

SD/- SD/-

(ASHOK MARWAH) (AKSHOD KUMAR SHARMA)

DIRECTOR DIRECTOR

Place : New Delhi

Date : 27/07/2012


Mar 31, 2011

To The Members of M/s Goldline International Finvest Limited,

The Directors have pleasure in presenting their 19th Annual Report and Audited Statement of Accounts of the Company for the year ended on 31st March, 2011.

1. Financial Results :

Particulars Current Yr. Previous Yr. 31.03.2011(Rs.) 31.03.2010 (Rs.)

Total Income/Loss 55375 50000

Less: Total Expenses 74038 67397

Profit Before Tax (18663) (17397)

Profit/Loss after Tax (18663) (17397)

Less: Profit Brought from Previous Yr (1165318) (1147921)

Balance carried to Balance Sheet (1183981) (1165318)

2. Dividend:

Due to losses the Company is not in the position to pay any dividend.

3. Deposits :

The Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975.

4. Auditors :

The Auditors M/s Thakur Saroj & Company, Chartered Accountants, Delhi, Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting. The Company has received letter from them to the effect that their appointment, if made, would be within the limits prescribed U/s 224(1B) of the Companies Act, 1956. Accordingly, M/s ThakurSaroj& Company, Chartered Accountants, are required to be reappointed as Statutory Auditors of the Company at the ensuing Annual General Meeting.

5 Auditor''s Report :

There is no adverse qualification/remark in the Auditor''s Report

6 Directors:

In accordance with the provisions of the Articles of Association of the Company Mr. NihalRanjan Mishra is due to retire by rotation and being eligible, offer himself for re-appointment. During the period under review Mr. Shamit Goel resigned. Your Directors place on record their appreciation for the valuable services rendered by Mr Shamit Goel during his tenure as Director

7 Director''s Responsibility Statement :

In compliance to the provisions of Section 217 (2AA) of the Companies Act, 1956, your Directors wish to place on record –

(i) that in preparing the Annual Accounts, all the applicable accounting standards have been followed ;

(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 profit of the Company for that period;

(iii) that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing/detecting fraud and irregularities;

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

8 Personnel :

As no employee is in receipt of remuneration in excess of the prescribed limits, information under Section 217 (2A) may be treated as nil.

9 Compliance Certificate from Company Secretary in Practice :

A Certificate of compliance by a Company Secretary in practice referred to in the proviso to sub-section (1) of Section 383A of the Companies Act, 1956 read with Rule 2(b), 2(c) & Rule 3 of the Companies (Compliance Certificate) Rules, 2001 is annexed herewith as Annexure-A.

10 Energy, Technology & Foreign Exchange :

Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 being not relevant/significant, are not given. There was no foreign exchange earning or outgo during the year under review.

Appreciation :

Your Directors wish to place on record their deep sense of appreciation of the devoted services rendered by the executives and bank etc.

FOR AND ON BEHALF OF THE BOARD

GOLDLINE INTERNATIONAL FINVEST LIMITED

SD/- SD/-

(ASHOK MARWAH) (AKSHOD KUMAR SHARMA)

DIRECTOR DIRECTOR

Place : New Delhi

Date : 27.07.2011

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