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Directors Report of Grovy India Ltd.

Mar 31, 2014

The Directors have pleasure in presenting the 29lh Annual General Report for the- period ended 31" March, 2014 together wi& audited Statement of accounts and Auditors Report thereon.

1. FINANCIAL RESULTS

The Working Result of the Company is summarized as under:

(In Rs,)

(2013-14) (2012-13)

Profit Before Tax 288759.95 145293.7

Lass: Income Tax Paid 0 0

Less: Tax Expense (Current Tax Deferred Tax Liability) 56989.61 20938,56

Las: Income Tan for earlier Year 4020 -

PROFIT AFTER TAXATION 227750.34 124355.14

Add: Brought forward Profit from Previous year 175895.14 51540

Less; Tax Refund W/off 761.28 -

402884.20 175895.14 APPROPRIATIONS

1) Proposed Dividend 0 0

2) "lax on Proposed Dividend 0 0

3) Transfer to General Reserve 0 0

4) Surplus C/o Balance Sheet 0 0

0 0

2. DIVIDEND

No dividend declared in previous year,

3. OPERATIONS

a) Shares SYEURITIFS

During the year the company has done major activities for sale and purchase of shares, gold, mutual funds, future & option. Overall the company has earned profit before tax of Rs.2S8759.95/- However, the management of the company expects better results in this segment in future years.

b) Property/Construction Activities

The Company has undertaken two projects during the year for construction Si. Rs. 5746S740.00 is considered as construction expensed for the mentioned projects.

4. ROSPECTS

There has been an increasing tendency in share market and good opportunities in property segment, your director expects better results in the current year.

5. DEPOSITS

The Company has not accepted deposits from public within the purview of section 58A of Companies Act, 1556,

6, LISTING

The company's equity shares are listed on Delhi Stock Exchange.

7. AUDITORS RETORT

The Auditor's report on lie Accounts of the Company is self-explanatory and requires no comment.

8. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217 (2AA) of the Companies (Amendment) Act, 2000 the Director confirm that:-

i) In the preparation of (he annual accounts, the applicable Accounting standards have been followed.

ii) Appropriate accounting policies have been selected and applied consistently, and have made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of (lie Company as at 31st March. 2014 and the profit of the Company for the year ended on 31" March, 2014.

iii) Proper and sufficient Cart has been taken 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) The annual accounts have been prepared on a going concern basis.

9. DIRECTOR

Ms. Anita Jalan, Director red res by rotation at Qui ensuing Annual General Meeting and being eligible offer herself for reappointment.

10. AUDITORS

The Auditors, M/s Watibwa & Co. Chartered Accountants, retire at the ensuing Annual General Meeting and, being eligible, offer themselves for reappointment.

11. SECR KTAR1 AL.AUDITORS

M/s M.A. Sc Associates, Company Secretary, retire at ensuing Annual General Meeting, You are requested to appoint them and fix their remuneration.

12 PARTICULARS OF EMPLOYEES

Particulars of employees as required U/s 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975 may be taken as NIL since no employee of the Company was in receipt of remuneration in excess of limits specified under the Said rules.

13. CONSERVATION OF ENERGY.TECHNOLOGY. ABSORPTION. FOREIGN EXCHANGE EARNINGS & OUTGO

The Companies (Disclosure of particular in the report of Board of Director) Rules, 19S3 require the disclosure of particulars regarding Conservation of Energy in Form" A and Technology Absorption in form- B and that the requirements of Form A & B are not applicable to the Company. The Company has had no foreign exchange outgo or inflow during the year under report.

14. ACKOWLDGEMENTS

Your directors wish to acknowledge their gratitude, to the business associates, customers, hankers for their continued patronage, assistance and guidance. We continue to look for the same degree of help, cooperation and indulgence from them in future.

By order of the Board

Place: Delhi On behalf of Board of Director

Dated 31st May,2014

(PRAKASH CHAND JALAN)

Chairman


Mar 31, 2013

The Directors have pleasure in presenting the 28_J1 Annual General Report for the period ended 31st March, 2013 together with audibled Statement of accounts and Auditors Report thereon.

1. FINANCIAL RESIXTS

The Working Result of 'the Company is summarized as under:

(In Rs.)

(2012-13) (2011-12)

Profit Before Tax 145293.7 13128.00

Less: Income Tax Paid 0 0

145293.7 13128.000 Less: Tax Expense (Cured Tax Deferred Tax Liability) 20938.56 -7449.00

PROFIT AFTER TAXATION 124355.14 20577.00

Add: Brought forward Profit from Previous year 51539.98 30963.00

175895.12 51540.00

APPROPRIATIONS

1) Proposed Dividend 0 0

2) Tax on Proposed Dividend 0 0

3) Transfer to General Reserve 0 0

4) Surplus C/o Balance Sheet 0 0

0 0

2. DIVIDEND

No dividend declared in previous year.

3. OPERATIONS

3) Shares & Securities

During the year the company has done major activities for sale and purchase of shares, mutual funds, future & option. Overall the company has earned profit before tax of Rs 1,45,203.70 /- However the management of (the company expects better results in this segment in future years,

bl Property/Construction Activities

The Company has not undertaken carry any project during the year.

4. PROSPECTS

There has been an increasing tendency in share market and good opportunities in property segment, your director expects better results in the current year.

5, DEPOSITS

The Company has not accepted deposits from public within the purview of section 58 A of Companies Act. 1956.

6. LISTING

The company's equity shares are listed on Delhi Stock Exchange.

7. AUDITORS REPORT

The Auditor's report on die Accounts of die Company is self-explanatory and requires no comment.

8. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to section 217 (2AA) of the 'Companies (Amendment) Act, 2000 the Directors confirm that:-

i) In the preparation of the annual accounts, the applicable Accounting standards have been followed.

ii) Appropriate accounting policies have been selected and applied consistently, and have made judgments and estimates that are reasonable and prudent so as to give a true and fair view of die state of affair of the Company as at 3 1"st March, 2013 and the profit of the Company for the year ended on 31st Marsh, 2013.

iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of tile Compares Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and order irregularities, and

iv) The annual accounts have been prepared on a going concern basis,

9. DIRECTORS

Mr. Rohan Jalan Director retires by rotation at the ensuing Annual] General Meeting and being eligible offer himself for reappointment.

10- AITMTORS

The Auditors, M/s Wadhwa &. Co, Chartered Accountants, retire at the ensuing Annual General Meeting and, hinge eligible, offer themselves for reappointment.

11. SECRETARIAL AUDITORS

M/s M.A. & Associates, Company Secretary, retire at ensuing Annual General Meeting, You are requested to appoint them and fix their remuneration.

12 PARTICULARS OF EMPLOYEES

Particulars of employees as required U.'s 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975 may be taken as NIL since no employee of the Company was in receipt of remuneration in excess of Limits specified under the said rules.

13. CONSERVATION OE ENERGY. TECHNOLOGY. ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO

The compares' (Disclosure of particulars in the report of Board of Directors) Rules, 1988 require the disclosure of particulars regarding Conservation of Energy in Form-A and Technology Absorption in for- 13 and that the requirements of Form A & E are not applicable to the Company. The Company has had no foreign Exchange outgo or inflow during the year under report.

14. ACKNOWLEDGEMENTS

Your directors wish to acknowledge their gratitude to the business associates, customers, bankers for their continued patronage, assistance and guidance. We continue to look for the same degree of help, cooperation and indulgence from them in future.

By order of the Board

On behalf of Board of Directors'

Place: Delhi

Dated: 10th May, 2013 (PEAK ASH CHAND JALAN)

Chairman


Mar 31, 2012

The Directors have pleasure in presenting the IT Annual General Report for the period ended 31st March, 2012 together with audited Statement of accounts and Auditors Report thereon.

1. FINANCIAL RESULTS

The Working Resell of the Company is summarized as under:

(In Rs.)

Profit Before Tax (2011-12) (2010-11)

Less: Income Tax Paid for previous years 0 1977

90881

Less: Tax Expense(Current Tax Detailed Tax Differed Tax Liability) (7449) 8659

PROFIT AFTER TAXATION' 20577 82221

Add: Brought forward Profit from Previous year 30963 111454

51540 193675

APPROPRIATIONS

1) Proposed Dividend 0 140000

2) Tax on Proposed Dividend 0 22752

3) Transfer to General Reserve 0 0

4) Surplus C/o Balance Sheet 51540 30963

51540 193675

I. OPERATIONS

a) Shares & Securities

During the year the company has done major activities for sale arid purchase of shares, mutual funds, future & option. Overall the company has earned profit before tax of Rs. 13,128/- However the management of the company expects better results in this segment in future years.

b) Property/construction Activities

The Company has not undertaken/carry any project during the year.

3. PROSPECTS

There has been an increasing tendency in share market and good opportunities in property segment, your director expects better results in the current year

4. DEPOSITS

The Company has not accepted deposits from public within the purview Of section 58 A of Companies Act, 1956.

5. LISTING

The company's equity shares are listed on Delhi Stock Exchange.

6. AUDITORS REPORT

The Auditor's import on the Accounts of the Company is self-explanatory arid requires no comment.

7, DIRECTORS RESFOINSIBILLTY STATEMENT

Pursuant to section 217 (2AA) of the Companies (Amendment) Act, 2000 the Directors confirm that:

i) In the preparation of the annual accounts, the applicable Accounting standards have been followed-

ii) Appropriate accounting policies have been selected and applied consistently, and have 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 as at 31st March, 2012 and the profit of the Company for the year ended on 31st March, 2012.

iii) Proper and sufficient care has been taken 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 deflecting fraud and other irregularities, and

iv) The annual accounts have been prepared on a going concern basis.

10. DIRECTORS

Mr. Prakash Chand Jalan Director retires by rotation at the ensuing Annual General Meeting and being eligible offer herself For reappointment.

Mr. Rajesh Kumar Agarwal resigned from the directorship of the Company w.c.f 21stSeptember, 2012.

II AUDITORS

The Auditors, M's Wadhwa & Co, Chartered Accountants, retire at the ensuing Annual General Meeting and, being eligible, offer themselves for reappointment.

12. SECRETARIAT.AUDITORS

Mrs M.A. &. Associates, Company Secretary, recite at ensuing Annual General Meeting, You are requested to appoint them and fix their remuneration.

13 PARTICULARS OF EMPLOYEES

Particulars of employees as required U/s 217 (2 A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975 may be taken as Nil. since no employee of the Company was in receipt of remuneration in excess of limits specified under the said rules.

14. CONSERVATION OF ENERGY. TECHNOLOGY. ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO

The Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 require the disclosure of particulars regarding Conservation of Energy in Form-A and Technology Absorption in form-B and that the requirements of Form A & B are not applicable to the Company. The Company Jotas laid no foreign Exchange outgo or inflow during the year under report

15. ACKJNOWLEDGEMENTS

Your directors wish to acknowledge their gratitude to the business associates, customers, bankers for their continued patronage, assistance and guidance. We continue to look for the same degree of help, cooperation and indulgence from them in future.

On behalf of Board of Directors

Place; Delhi For GROVY EXPORTS & MARKETING LIMITED



Dated: 7th September, 2012 (Anita Jalan)

Chairman

 
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