Mar 31, 2014
The Members
Himalchuli Food Product Limited
Surat
The Directors hereby present the Twenty Eighth Annual Report together
with the Audited Statement of Accounts for the aforesaid year.
FINANCIAL RESULTS: (Figure in Rs.)
Year ended Year ended
31/03/2014 31/03/2013
Income from Operations 64,60,000 9,82,929
Other Income 0 13,127
Expenditure 64,35,662 9,80,719
Profit for the year before Tax 24,338 15,337
DIVIDEND
Due to the requirement of Fund for further expansion, the Directors do
not recommend any dividend.
DIRECTORS
In accordance with the provisions of the Companies Act, 2013, Mr.
Omprakash Rambilash Agarwal, retires by rotation at the ensuring Annual
General Meeting and being eligible offers himself for re- appointment.
Directors'' Responsibility Statement
Pursuant to section 217 (2AA) of the Companies Act, 1956, the Directors
to the best of their knowledge and belief confirm that
(i) In the preparation of the annual accounts for the financial year
ended March 31, 2014, all the applicable accounting standards have been
followed along with proper explanations relating to material
departures.
(ii) Appropriate accounting policies have been selected and applied
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 as at March 31, 2014 and of the Profit of the Company for
the said year;
(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 detecting fraud and other irregularities; and
(iv) The annual accounts have been prepared on a ''going concern'' basis.
PARTICULARS OF EMPLOYEES
The provision of section 217(2A) of the Companies Act, 1956, read with
Companies (Particulars of Employees) Rules, 1975 are not applicable to
your company since none of the employee is employed on a remuneration
of Rs. 2,00,000/- P.M or Rs. 24,00,000/- P.A.
Conservation of Energy, Research & Development, Technology Absorption,
Foreign Exchange Earning and Outgo
In pursuance of the provisions of section 217(2)(e) of the Companies
Act, 1956 read with Rule 2 of the Companies (Disclosure of particulars
in the Report of Board of Directors) Rules 1988, the particulars
relating to conservation of energy, technology absorption and foreign
exchange earning and outgo is given below:
A. Conservation of Energy
The requirement of power during the period was not large and the
position does not warrant any special conservative measures.
B. Technology absorption, adaptation and innovation: The applicable
Disclosures has been made as per Form B of Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 as
follows:
Form B
Specific areas in which R & D carried out by the company
The Company does not have separate R & D Lab. However, with the
existing testing lab the company''s chemists and engineers have been
continuously involved in upgradation of the quality of the product.
Benefits derived as a result of the above R & D.
Future plan of action.
Efforts to continue further improvement in the existing products and
bring in new range of products.
Expenditure on R & D: Nil
Efforts, in brief, made towards
technology absorption, adaptation and innovation.
The Company has installed imported machinery from Germany in its
polymer bags division.
Benefits derived as a result of the above efforts, e.g., product
improvement, cost reduction, product development, import substitution,
etc.
Not Applicable
In case of imported technology (imported during the last 5 years
reckoned from the beginning of the financial year), following
information may be furnished:
Not Applicable
Technology Imported Not Applicable
Year of import. Not Applicable
Has technology been fully absorbed- Not Applicable
If not fully absorbed, areas where this has not taken place, reasons
therefor and future plans of action
Not Applicable
COMPLIANCE CERTIFICATE
Compliance Certificate to be obtained under Section 383A of the
Companies Act, 1956 read with Companies (Issue of Compliance
Certificate) Rules, 2001 has been obtained from M/s. M.BUHA & CO.,
Practicing Company Secretaries and the same has been attached to this
Report.
PUBLIC DEPOSITS
The company has neither invited nor accepted any public deposits during
the period under review.
AUDITORS
M/s. C. S. Jariwala and Co., Chartered Accountants retire at the
ensuring Annual General Meeting and being eligible offer themselves for
re-appointment. The Company has received letters from Auditor to the
effect that their reÂappointment, if made, would be within the
prescribed limits under Section 141(3)(g) of the Companies Act, 2013
and that they are not disqualified for reÂappointment.
AUDITOR''S REPORT
The directors are of opinion that the comments in the Auditors report
are self explanatory and do not call for any further explanation.
ACKNOWLEDGEMENTS
The Directors take pleasure in thanking the Company''s business
associates/ customers, vendors and bankers for their continued support.
The Directors also acknowledge the appreciation of the sincere efforts,
contribution and cooperation of the employees.
For and on behalf of the Board of Directors
Place: Surat (Omprakash Agarwal) (Vivek Goel)
Date:28th May 2014 Managing Director Director
Mar 31, 2013
To, The Member of Himalchuli Food Product Limited Surat
The directors have pleasure in presenting their Annual Report and the
audited statement of accounts for the year ended on 31st March, 2013
together with the auditors report thereon. The directors give hereunder
their report with respect to the matters specified in section 217 of
The Companies Act 1956. 1 State of affairs
Particulars 2012-2013
Income Rs. 982929.00
Other Income Rs. 13127.00
Expenses Rs. 980719.00
Profit for the
year before tax Rs. 15337.00
Directors do not propose to recommend any dividend or propose transfer
any amount to reserves. The provision for tax is Rs.2980/- 2. Material
Changes affecting Financial Position of company after date of balance
Sheet.
No material changes have occurred affecting financial position of
company after date of balance sheet. 3 Particulars of energy
Conservation of Energy Etc. :
A. CONSERVATION OF ENERGY
a Energy conversation measures taken: Nil
Additional investment and proposals, if any, There are no
b being implemented for reduction of consumption proposals of energy
Impact of measures at (a) & (b) above for reduction of energy
consumption and
c Does not arise consequent impact on the cost of production of goods:
B. TECHNOLOGY ABSORPTION Form B
Research & Development (R & D)
Specific area in which R & D carried by the
1 Nil company
2 Benefits derived as a result of the above R & D Does not arise
3 Future plan of action No plans at present
4 Expenditure on R & D Nil Technology absorption, adaptation and
innovation
1 Efforts being made towards technology None absorption, adaptation and
innovation
Benefits derived as a result of the above efforts
2 e.g. Product improvement cost, reduction, None product development,
import substitution etc.
3 Imported technology : Not applicable C. FOREIGN EXCHANGE EARNING AND
OUTGO
Activities relating to exports, initiatives taken to increase exports,
development of new export None markets for products and services and
export plans
Total Foreign Exchange used and earned
Earnings Nil Out Go Nil
Company is not carrying any manufacturing activity and the particulars
of consumption of energy are not applicable.
6. Information about employees
The company do not have any employee drawing salary in excess of limits
prescribed under section 217 (2a) of the companies act, 1956 read with
the companies (particulars of employees) rules 1975 the particulars
should be treated as nil
7. Directors responsibility statement Your Directors confirm that:
in the preparation of Annual Accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures. 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 financial year and of
the loss of the company for the year.
The directors has 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 The
directors had prepared the accounts on going concern basis. 9.
Auditors Report
The directors are of opinion that the comments in the Auditors report
are self explanatory and do not call for any further explanation. 10
Acknowledgements
The Directors express their sincere thanks to all the individuals,
governments agencies, bankers and the employees of company s who have
given support and co operation during the year.
Place : Surat For & On Behalf of the Board of Directors
Sd/-
Omprakash Agarwal
Date : 29.05.2013 Sd/-
Vivek Goel Directors
Mar 31, 2011
To
Shareholders
Himalchuli Food Products Limited
The Directors have Pleasure in Presenting the Annual Report together
with audited statement of accounts for the year ended 31st March, 2011
OPERATIONS AND FUTURE PLANS
The company did not made any business activity during the year . The
other income of Rs. 1,15,338 00 comprises of commission, dividend etc.
The company has however repaid all dues towards creditors mainly to
company's bankers M/s Union bank of India. The amount has been repaid
form the internal resources of directors and companies controlled by
them. The directors proposes to restart business activities during
current year.
DIVIDEND:
Since the Company has not carried on any activity and has no profits
during the year the directors do not recommend any dividend for year
ending 31.03.2011.
DIRECTORS
There is no change in Board of Directors during the year. Shri
Omprakash Agarwal retires by rotation and has offered himself for
reappointment. The directors recommend reappomtment of Shri Omprakash
Agarwal as director of company. Information pursuant to clause 49 of
listing agreement in respect of directors being reappointed is as
under.
Shri Omprakash Agarwal retires by rotation at this Annual General
Meeting. He do not have formal academic education qualification but is
having rich experience as industrialist. He is 64 years age and is not
having directorship in any other public companies with public interest.
He is the not the Chairman of any committee of Board of directors
DIRECTORS' RESPONSIBILITY STATEMENT
Your Directors State:
i) that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanations
relating to material departure;
ii) that the Directors had selected such accounting policies and
applied them consistently and made judgments and estimates that ate
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 the loss
of the Company for the period;
iii) That the Directors 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, .
iv) That the Directors had prepared the annual accounts o a going
concern basis.
FIXED DEPOSITS
Your company has neither invited nor accepted any Fixed Deposits from
the public during the financial year under review.
CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE:
The paid up share capital of company is below Rs.300.00 lacs and
mandatory compliance of corporate governance stipulated in listing
agreement is not applicable to company however company has been
complying with major requirements of corporate governance and a report
there on forming part of directors report is attached to this report as
Annuxure 'A
LISTING AGREEMENTS REQUIREMENTS:
The securities of you company are listed at Mumbai, Ahmedabad and
vadodra Stock Exchanges Trading in company's securities remained
suspended at Mumbai Stock Exchanges for various reasons including
non-submission of documents and all possible steps are being taken by
the management to get shares traded at the floor of the Exchange. No
trading in shares have taken place at other exchanges.
PARTICULARS OF THE EMPLOYEES:
None of the employees employed during the year was in receipt of
remuneration in excess of the Prescribed limit specified in section 217
(2A) of the Companies Act, 1956 Hence furnishing of particulars under
the Companies ( Particulars of Employees) 1975 does not arise.
AUDITORS AND AUDITORS REPORT
M/s C. S. jariwala & Co. , Chartered Accountants Surat, Auditors of the
Company retire at the ensuing "Annual General Meeting. They have
expressed their willingness for reappointment. The
qualifications/comments in auditors reports are self explanatory and in
opinion of Board do not call for any further comments/clarifications.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
During the year under review, there were no activities and the
consumption of electricity is negligible. However measures have been
taken to make sure that there is no wastage of energy Since the
requisite information with regard to the conservation of energy,
technology absorption (Disclosures of Particulars in the report of
Board of Directors) Rules is not relevant on account no activities in
company the same may be treated as nil.
FOREIGN EXCHANGE EARNINGS AND OUTGO:
The foreign exchange earnings and outgo is nil.
ACKNOWLDGEMENTS
The Board of Directors wish to place on record their appreciation for
the co-operation and support of the Company's Bankers, employees and
all other intermediaries concerned with the company's business.
Your directors sincerely thank all members for supporting us during the
difficult days. We look forward to your continued support and reiterate
that we are determined to ensure that the plans are successfully
implemented.
For and on behalf of Board of Directors
Omprakash Agarwal
Chairman and Managing Director
Place: Surat
Date : 14.04.2011
Mar 31, 2010
The Members
Himalchuli Food Products Limited
Surat
The Directors have pleasure in presenting their Annual Report and the
audited statement of accounts for the year ended on 31st Mareh9 2010
together with the auditors report thereon. The directors give hereunder
their report with respect to the matters specified in section 217 of
The Companies Act 1956.
1 State of affairs
Particulars 2009-2010
Income Rs. 00.00
Other Income Rs. 195539.00
Financial Charges Rs. 205.00
Depreciation Rs. 00.00
Profit/(Loss) before Rs. 145826.00
Tax
Proposed Dividend Rs. 0.00
Transfer to General Rs. 0.00
Reserve
2. Material Changes affecting Financial Position of company after date
of balance Sheet.
No material changes have occurred affecting financial position of
company after date of
balance sheet
3 Particulars of energy Conservation of Energy Etc
A. CONSERVATION OF ENERGY
a Energy conversation measures taken: Nil
b Additional investment and proposals, if any, being There are no
proposals implemented for reduction of consumption of energy Impact of
measures at (a) & (b) above for reduction
c of energy consumption and consequent impact on the Does not arise
cost of production of goods:
B. TECHNOLOGY ABSORPTION
Form B
Research & Development (R & D)
1 Specific area in which R&D carried by the company Nil
2 Benefits derived as a result of the above R&D Does not arise
3 Future plan of action No plans at
present
4 Expenditure on R & D Nil
Technology absorption, adaptation and
innovation
1 Efforts being made towards technology absorption, None
adaptation and innovation Benefits derived as a re
sult of the above efforts e.g.
2 Product improvement cost, reduction, product None
development, import substitution etc.
3 Imported technology Not applicable
C. FOREIGN EXCHANGE EARNING AND OUTGO Activities relating to exports,
initiatives taken to increase exports, development of new export
markets None for products and services and export plans Total Foreign
Exchange used and earned
Earnings Nil Out Go Nil
6. Material Changes during the year affecting State of affairs of
company and class of business
No material changes have occurred during the tear which has affected
the state of affairs of company or class of business In which company
has interest except that the company's bankers have sold off the assets
of the company and appropriated the proceeds towards their dues.
7. Information about employees
The company do not have any employee drawing salary in excess of limits
prescribed under section 217 (2a) of the companies act, 1956 read with
the companies (particulars of employees) rules 1975 the particulars
should be treated as nil
8. Directors responsibility statement Your Directors confirm that:
(i) in the preparation of Annual Accounts, the applicable accounting
standards had been.followed along with proper explanation relating to
material departures.
(ii) 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 financial year and of the loss of the
company for the year,
(ill) The directors has 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) The directors had prepared the accounts on going concern basis.
9. Auditors Report
The directors are of opinion that the comments in the Auditors report
are self explanatory and do not call for any further explanation.
10. Acknowledgements
The Directors express their sincere thanks to all the individuals,
governments agencies, bankers and the employees of company s who have
given support and co operation during the year
Place : Surat For & on Behalf of the Board of Directors
Sd- Omprakash Agarwal
Date : 26.04.2010 Sd-Vivek Goel
Directors