Mar 31, 2014
Dear Members,
The Directors present the Thirty second Annual Report together with the
audited statement of accounts for the year ended 31st March 2014.
1. FINANCIAL RESULTS:
Current Year Previous Year
Rupees Rupees
Profit before depreciation 10,96,174/- 9,80,493/-
Less: Depreciation 10,464/- 14,612/-
Profit before taxes 10,85,710/- 9,65,881/-
Less: Provision for current taxation (80,000/-) -
Add: Provision for deferred taxation 136/- 2,416 /-
MAT credit entitlement 70,535/- -
Profit available for appropriation 10,76/181/ - 9,68,297/-
Prior year taxes written back - -
Reserve fund 2,00,000/- 1,95,000/-
8,76,381 /- 7,73,297/-
Surplus brought forward from last year 2,60,09,083/- 2,52,35,786/-
Surplus carried to balance sheet 2,68,85,464/- 2,60,09,083/-
2. DIRECTORS:
Sri. Murali D. kanuri Director of the Company, retires by rotation and
being eligible, offer himself for reappointment.
Sri C. Kameswara Sharma and Dr. K.P. Reddy are proposed to be appointed
as Independent Directors pursuant to the provisions of section 149,150
and 152 read with Schedule IV and other applicable provisions of the
Companies Act, 2013, and the Rules notified thereunder to hold office
for a term of five consecutive years. These directors shall not be
liable to retire by rotation. The Board is of the opinion that the
proposed appointees have adequate skills, experience and knowledge and
are independent of management
Your Directors recommend their appointment on the Board.
3. DIRECTORS'' RESPONSIBILITY STATEMENT :
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility statement, the
directors hereby confirm that:
i) in preparation of the accounts for the financial year ended 31st
March, 2014, the applicable accounting standard have been followed
along with proper explanation relating to material departures;
ii) they have selected such accounting policies and applied them
consistently and made judgment and estimate that were 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 the year under review;
iii) they have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with provision of the
Companies Act,1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) they have prepared the accounts for the financial year ended 31st
March 2014 on a going concern basis.
4. AUDITORS:
The present auditors M/s. Ganesh & Rajendra Associates, Chartered
Accountants, retire at the ensuing Annual General Meeting, and have not
expressed their willingness to be reappointed as the Auditors. The
company received a letter from a share holder proposing M/s C K S
Associates, Chartered Accountants, Hyderabad, as Auditors.
In view of this, your directors propose appointment of M/s C K S
Associates, (Peer Review Certificate No: 006803), Chartered
Accountants, Hyderabad, as the Statutory Auditors of the Company from
the conclusion of the ensuing Annual General Meeting till the
conclusion of the sixth consecutive Annual General Meeting subject to
ratification at each such meeting as per the provisions of section 139
of the Companies Act, 2013, and the Rules made thereunder, from whom a
certificate as prescribed under section 139 (1) of the said Act
confirming their eligibility for appointment has been obtained.
5. APPOINTMENT OF COMPANY SECRETARY ;
As per section 383A of the Companies Act, 1956, the company is supposed
to appoint a company secretary in whole time employment. The management
has made efforts to comply with the same, but could not succeed in
appointing a company secretary. Hence the company has obtained the
compliance certificate from a practicing company secretary.
6. PARTICULARS OF EMPLOYEES:
The Company had no employees whose particulars are required to be
mentioned pursuant to the provisions of Section 217 (2A) of the
Companies Acts, 1956 read with the rules thereunder.
7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Being an investment company, there are no particulars to be furnished
in this report as required by Section 217 (l)(e) of the Companies Act,
1956 relating to conservation of energy and technology absorption.
There were no foreign exchange earnings or outgo during the year.
FOR & ON BEHALF OF THE BOARD
Place: Mumbai (Murali D. Kanuri) (C.Shantha Prasad)
Dated: 30th May, 2014 Director Director
Mar 31, 2013
To the Shareholders,
The Directors present the Thirty First Annual Report together with the
audited statement of accounts for the year ended 31Rt March 2013.
1. FINANCIAL RESULTS:
Current Year Previous Year
Rupees Rupees
Profit before depreciation 9,80,493/- 22,87,491/-
Less: Depreciation 14,61.2/- 2,419/-
Profit before taxes 9,65,881/- 22,75,072/-
Less : Provision for current
taxation
Provision for deferred taxation 2,416/- (736/-)
Profit available for appropriation 9,68,297/- 22,75,808/-
Prior year taxes written back
Reserve fund 1,95,000/- 4,55,000/-
7,73,297/- 18,20,808/-
Surplus brought forward
from last year 2,52,35,786/- 34,14,978/-
Surplus carried to balance sheet 2,60,09,083/- 52,35,786/-
2. DIRECTORS:
Sri.K.Harishchandra Prasad Director of the Company, retire by rotation
and being eligible, offer herself for reappointment.
¦ 3. DIRECTORS'' RESPONSIBILITY STATEMENT :
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility statement, the
directors hereby confirm that:
i) in preparation of the accounts for the financial year ended 31st
March, 2013, the applicable accounting standard have been followed
along with proper explanation relating to material departures;
ii) they have selected such accounting policies and applied them
consistently and made judgment and estimate that were 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 the year under review;
iii) they have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with provision of the
Companies Act,1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) they have prepared the accounts for the financial year ended 31sf
March 2013 on a going concern basis.
4. AUDITORS:
M/s. Ganesh & Rajendra Associates, Chartered Accountants, retire at the
ensuing Annual General Meeting and being eligible offer themselves for
re-appointment.
5. APPOINTMENT OF COMPANY SECRETARY :
As per section 383A of the Companies Act, 1956, the company is supposed
to appoint a company secretary in whole time employment. The management
has made efforts to comply with the same, but could not succeed in
appointing a company secretary. Hence the company has obtained the
compliance certificate from a practicing company secretary.
6. PARTICULARS OF EMPLOYEES :
The Company had no employees whose particulars are required to be
mentioned pursuant to the provisions of Section 217 (2A) of the
Companies Acts, 1956 read with the rules thereunder.
7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Being an investment company, there are no particulars to be furnished
in this report as required by Section 217 (l)(e) of the Companies Act,
1956 relating to conservation of energy and technology absorption.
There were no foreign exchange earnings or outgo during the year.
FOR & ON BEHALF OF THE BOARD
Place: Mumbai (Murali D. Kanuri) (C.Shantha Prasad)
Dated: 30th May, 2013 Director Director
Mar 31, 2012
The Directors present the Thirtieth Annual Report together with the
audited statement of accounts for the year ended 31st March 2012.
1. FINANCIAL RESULTS:
Current Year Previous Year
Rupees Rupees
Profit before depreciation 22,87,491/- 32,97,774/-
Less: Depreciation 12,419/- 4,321/-
Profit before taxes 22,75,072/- 32,93,453/-
Less : Provision for
current taxation
Provision for deferred
taxation (736/-) 23,231/ -
Profit available for
appropriation 22,75,808/- 32,70,222/-
Prior year taxes
written back - 72/-
Reserve fund 4,55,000/- 6,54,000/-
18,20,808/- 26,16,294/-
Surplus brought forward
from last year 2,34,14,977/- 2,07,98,683/-
Surplus carried to
balance sheet 2,52,35,785/- 2,34,14,977/-
2. DIRECTORS:
Smt C.Shantha Prasad Director of the Company, retire by rotation and
being eligible, offer herself for reappointment.
3. DIRECTORS' RESPONSIBILITY STATEMENT :
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility statement, the
directors hereby confirm that:
i) in preparation of the accounts for the financial year ended 31st
March, 2012, the applicable accounting standard have been followed
along with proper explanation relating to material departures;
ii) they have selected such accounting policies and applied them
consistently and made judgment and estimate that were 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 the year under review;
iii) they have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with provision of the
Companies Act,1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) they have prepared the accounts for the financial year ended 31st
March 2012 on a going concern basis.
4. AUDITORS:
M/s. Ganesh & Rajendra Associates, Chartered Accountants, retire at the
ensuing Annual General Meeting and being eligible offer themselves for
re-appointment.
5. APPOINTMENT OF COMPANY SECRETARY :
As per section 383A of the Companies Act, 1956, the company is supposed
to appoint a company secretary in whole time employment. The management
has made efforts to comply with the same, but could not succeed in
appointing a company secretary. Hence the company has obtained the
compliance certificate from a practicing company secretary.
6. PARTICULARS OF EMPLOYEES :
The Company had no employees whose particulars are required to be
mentioned pursuant to the provisions of Section 217 (2 A) of the
Companies Acts, 1956 read with the rules there under.
7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
Being an investment company, there are no particulars to be furnished
in this report as required by Section 217 (l)(e) of the Companies Act,
1956 relating to conservation of energy and technology absorption.
There were no foreign exchange earnings or outgo during the year.
FOR & ON BEHALF OF THE BOARD
Place: Mumbai (Murali D. Kanuri) (K. Harishchandra Prasad)
Dated: 30th July, 2012 Director Director
Mar 31, 2010
The Directors present the Twenty Eight Annual Report together with the
audited statement of accounts for the year ended 31st March 2010.
1. FINANCIAL RESULTS:
Current Year Previous Year
Rupees Rupees
Profit before depreciation 7,22,143/- 1,69,22,976/-
Less : Depreciation 2,019/- 4,015/-
Profit before taxes 7,20,124/- 1,69,18,925/-
Less : Provision for current taxation 21,000/- 36,15,000/-
Provision for fringe benefit tax - 1,333/-
Provision for deferred taxation 45,755/- 589/-
Profit available for appropriation 6,53,369/- 1,33,03,181/-
Prior year taxes written back (2,343/-) 2,832/-
Reserve fund 1,30,000/- 26,65,000/-
5,21,026/- 1,06,41,013/-
Surplus brought forward from last year 2,02,77,656/- 96,36,643/-
Surplus carried to balance sheet 2,07,98,682/- 2,02,77,656/-
2. DIRECTORS:
Sri K. Harishchandra Prasad Director of the Company, retire by rotation
and being eligible, offer himself for reappointment.
3. DIRECTORS RESPONSIBILITY STATEMENT :
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Directors Responsibility statement, the
directors hereby confirm that:
i) in preparation of the accounts for the financial year ended 31st
March, 2010, the
applicable accounting standard have been followed along with proper
explanation relating to material departures;
ii) they have selected such accounting policies and applied them
consistently and made judgment and estimate that were 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 the year under review;
iii) they have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with provision of the
Companies Act,1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
iv) they have prepared the accounts for the financial year ended 31st
March 2010 on a going concern basis.
4. AUDITORS:
M/s. Ganesh & Rajendra Associates, Chartered Accountants, retire at the
ensuing Annual General Meeting and being eligible offer themselves for
re-appointment.
5. APPOINTMENT OF COMPANY SECRETARY :
As per section 383A of the Companies Act, 1956, the company is supposed
to appoint a company secretary in whole time employment. The management
has made efforts to comply with the same, but could not succeed in
appointing a company secretary. Hence the company has obtained the
compliance certificate from a practicing company secretary.
6. PARTICULARS OF EMPLOYEES :
The Company had no employees whose particulars are required to be
mentioned pursuant to the provisions of Section 217 (2A) of the
Companies Acts, 1956 read with the rules thereunder.
7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO :
Being an investment company, there are no particulars to be furnished
in this report as required by Section 217 (l)(e) of the Companies Act,
1956 relating to conservation of energy and technology absorption.
There was no foreign exchange earnings or outgo during the year.
FOR & ON BEHALF OF THE BOARD
Sd/- Sd/-
Place: Mumbai (Murali D. Kanuri) (K. Harishchandra Prasad)
Dated: 30th July 2010 Director Director
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