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Directors Report of Goplee Infotech Ltd.

Mar 31, 2010

The Directors have pleasure in presenting the 16th Annual Report together with audited statement of accounts of the Company for the year ended on 31st,March, 2010.

1. OPERATIONS

The company has a very good Operational activity during the year due to good market.

2. FINANCIAL RESULTS

The financial result during the year 2009-10 is summarized below:

PARTICULARS (AMOUNT Rs. In Lacs)

2009-10 2008-09

Turn Over 19.62 15.13

Expenses 16.44 15.38

Profit Before Tax 3.18 -00.25

Provision for Taxation 0.49 00.00

Profit after Tax 2.69 -00.25

3. DIVIDEND

The Company does not recommend any dividend during the year.

4. PUBLIC DEPOSITS

During the year the company has not accepted any deposit u/s 58A of the Companies Act, 1956.

5. AUDITORS

M/s. Shirish Dalai & Associates, Chartered Accountants the Statutory Auditors of the Company retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. The Company has received confirmation that their appointment, if made would be within the prescribed limit specified u/s 224(1 B) of the Companies Act, 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the Companies Act, 1956.

Your Directors recommend re-appointment of M/s Shirish Dalai & Associates as the Statutory Auditors of the Company for the current financial year and fixation of their remuneration.

6. DIRECTORS

In accordance with the Companies Act, 1956, Mr. Mukesh G Bhojwani who is liable to retire by rotation and being eligible, have offered himself for re-appointment.

7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND EXPENDITURE

The Company does not own manufacturing activity, the disclosure of information relating to conservation of energy and technology absorption to be disclosed in terms of 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 are not applicable and hence not given.

There are no foreign exchange transactions during the year.

8. PARTICULARS OF EMPLOYEES

The Company does not have any employee who is in receipt of remuneration aggregating to the sum prescribed u/s 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended till date.

9. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirements u/s 217(2AA) of the Companies Act, 1956 your Directors hereby state and confirm that:

(i) in preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

(ii) they have selected the accounting policies and applied them consistently and made; judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year under review and for the profit of the Company for the same period;

(iii) 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; and

(iv) they have prepared the Annual accounts on a going concern basis.

10. LISTING

The equity shares of the Company are listed at the Bombay Stock Exchange (BSE) and Ahmedabad Stock Exchange (ASE).

The trading of the shares of the Company is suspended by the stock exchanges. The management is taking all the necessary steps in order to revoke the suspension of trading in the Equity shares of the Company.

11. CORPORATE GOVERNANCE AND COMPLIANCE

A report on corporate governance is annexed to this report. A certificate from Statutory Auditors with regards to the compliance of the Corporate Governance by the company is annexed to this report.

The company has fully complied with all mandatory requirements as prescribed under clause 49 of the listing agreement. In addition, the company has also implemented some of the non mandatory provisions of Clause 49 of the Listing Agreement.

12. ACKNOWLEDGMENTS

Your Directors express their gratitude for the support and guidance received from Shareholders, Banks and other agencies.

The Directors also express their sincere thanks and appreciation to all the employees for their commendable teamwork and efforts during the year.



By Order of the Board

For GOPLEE INFOTECH LIMITED

Place: Ahmedabad

Date: June 01, 2010 Gopaldas P Bhojwani

Chairman




Mar 31, 2009

The Directors have pleasure in presenting the 15th Annual Report together with audited statement of accounts of the Company for the year ended on 31st March 2009.

OPERATIONS DURING THE YEAR:

The company has a very good Operational activity during the year due to good market.

FINANCIAL RESULTS:

The financial results are as under :-

"PARTICULARS AMOUNT (RS. IN LACS) 2008-09 2007-08

Turn Over 15.13 14.12

Expenses 15.38 14.69

Profit Before Tax -00.25 -00.57

Provision for Taxation 00.00 00.00

Profit after Tax -00.25 -00.57

AUDITORS:

The members are requested to appoint auditors for the current year and to fix their remuneration. M/s. SHIRISH DALAL & ASSOCIATES,Chartered Accountants have consented for continuation to act as the auditors of the Company, if re-appointed.

PUBLIC DEPOSITS :

During the year the company has not accepted any deposit u/s. 58A of the Companies Act, 1956.

DIRECTORS:

During the year GOPALDAS P BHOJWANI will retire by rotation at the ensuing A.G.M and being eligible, offers himself for re-appointment.

FOREIGN EXCHANGE EARNING AND EXPENDITURE:

There were no Foreign Exchange transactions during the year.

PERSONNEL AND OTHER MATTERS:

As required by the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, the names and other particulars of the employees are not given as no employee was coming under the provisions set of section 217 (2A).

Since the Company does not own any manufacturing activity, the disclosure of information relating to conservation of energy and technology absorption to be disclosed in terms of 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, are not applicable and hence not given.

AUDIT COMMITTEE:

The Company has formed an Audit Committee comprising of 3 directors. The terms of the reference of the committee are in line with the requirements as stipulated u/s 292A of the Co. Act, 1956 and Corporate Governance as stated in Clause 49 of the Listing Agreement.

DIRECTORS RESPONSIBILITY STATEMENT:

The Directors confirm that in preparation of the annual accounts for the year ended March 31, 2009-

1. the applicable accounting standards had been followed along with proper explanation relating to material departures;

2. they had selected such accounting policies and applied them consistently and made;

3. judgements and estimates that are reasonable and prudent had been taken 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;

4. they had 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; and

5. they had prepared the annual accounts on a going concern basis.

CORPORATE GOVERNANCE AND COMPLIANCE:

A report on corporate governance is annexed to this report. A certificate from Statutory Auditors with regards to the compliance of the corporate governance by the company is annexed to this report.

The company has fully complied with all mandatory requirements prescribed under clause 49 of the listing agreement. In addition, the company has also implemented some of the non mandatory provisions of clause 49.

ACKNOWLEDGEMENTS:

The Directors thank the clients for the confidence reposed, which has enabled the Company in successfully achieving the satisfactory performance.

The Directors also thank the Companys bankers, lenders, the Government of India, the Securities and

Exchange Board of India, the Reserve Bank of India and other statutory authorities for their continued support to the Company.

The Directors express their gratitude for the support and guidance received from its shareholders.

The Directors also express their sincere thanks and appreciation to all the employees for their commendable teamwork, professionalism and contribution during the year.

BY ORDER OF THE BOARD OF DIRECTORS

GOPLEE INFOTECH LIMITED

PLACE: AHMEDABAD Sd/-

DATE : 01-09-2009 GOPALDAS P BHOJWANI

(CHAIRMAN)

 
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