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Directors Report of IGC Foils Ltd.

Mar 31, 2014

The Directors have pleasure in presenting the 34th ANNUAL REPORT, for the year ended 31st March, 2015.

I. FINANCIAL RESULTS :

(In Rupees )

PARTICULARS CURRENT PREVIOUS YEAR YEAR 31.03.2015 31.03.2014

Income from Operations 3784036.00 2534460.00

Other Income - -

Less: Total Expenditure 3744802.00 2461218.00

Profit / (Loss) Before Tax 39234.00 73242.00

Less : Taxation - -

Current Tax 7500.00 -

Mat Entitlement Credit - -

Profit / (Loss) After Taxation 31734.00 73242.00

Balance Carried to Balance Sheet 31734.00 73242.00

II. GENERAL REVIEW OF OPERATIONS :

The Indian Economy during the year displayed distinct signs of strong long term growth. The Company could not carry out manufacturing & Trading activity during the year under review. However the Company has achieved a post tax profit of Rs. 31734.00 as compared Profit of Rs. 73242.00 in previous year.

III. DIVIDEND :

In order to conserve the resources of the board of directors are unable to declare any dividend.

IV. DIRECTORS:

Mr. Bhavesh Vora Director of the company retire by rotation and being offer eligible offer themselves for re-appointment.

V. SECRETARIAL AUDIT REPORT:

The Company has obtained Compliance Certificate from a Company Secretary in whole time practice pursuant to section 383A of the Companies Act, 1956 and is form part of the Balance Sheet.

VI. AUDITORS:

M/s. Sanjay N Shah & Co., Chartered Associates, the retiring Auditors have expressed their willingness to be re-appointed. It has been proposed to reappoint M/s. Sanjay N Shah & Co; Chartered Accountants as Auditors of the Company. The Company has received a Certificate from them that they are qualified under Section 224 (1) of the Companies Act, 1956 for appointment as Auditors of the Company. Members are requested to consider their appointment at a remuneration to be decided by the Board of Directors for the financial year ending March 31, 2015 as set out in the Notice convening the Meeting.

VII. AUDITORS REMARKS:

The remarks of the auditors are self-explanatory in nature and need no further clarification.

VIII. STATUTORY INFORMATION:

The Company had no employees, drawing remuneration in excess of the limits laid out under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

IX. CORPORATE GOVERNANCE:

As required under the Listing Agreement with The Culcutta Stock Exchange Limited, a report on Corporate Governance is given in Annexure "A" to this Report

X. ENERGY CONSERVATION:

Since the company has done trading activity during the year, the provisions of energy conservation are not applicable during the year.

XI. DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors subscribe to the 'Directors Responsibility Statement' and confirm that:-

- In the preparation of the annual accounts, the applicable accounting standards have been followed, along with proper explanation relating to material departures.

- The Directors have 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 or loss of the Company, for that period.

- The Directors have taken proper and sufficient care of 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.

- The Directors have prepared the annual accounts on a going concern basis.

XII. ACKNOWLEDGEMENT:

Your Directors wish to thank the Company's bankers and all other associates, for their co-operation and support during the year.

For and on behalf of Board of Directors

Sd/-

Mrs. Disha Mehta

Chairman & Managing Director

Place : Kolkata

Date : 30th May, 2015


Mar 31, 2013

The Directors have pleasure in presenting the 33rd ANNUAL REPORT, for the year ended 31st March, 2014.

I. FINANCIAL RESULTS :

(In Rupees)

PARTICULARS CURRENT PREVIOUS YEAR YEAR 31.03.2014 31.03.2013

Income from Operations 2534460.00 -

Other Income - -

Less: Total Expenditure 2461218.00 3000.00

Profit I (Loss) Before Tax 73242.00 (3000.00)

Less : Taxation - -

Current Tax - -

Mat Entitlement Credit - -

Profit I (Loss) After Taxation 73242.00 (3000.00)

Balance Carried to Balance Sheet 73242.00 (3000.00)

II. GENERAL REVIEW OF OPERATIONS :

The Indian Economy during the year displayed distinct signs of strong long term growth. The Company could not carry out manufacturing & Trading activity during the year under review. However the Company has achieved a post tax profit of Rs. 73242.00 as compared Loss of Rs. 3000.00 i previous year.

III. DIVIDEND :

In order to conserve the resources of the board of directors are unable to declare any dividend.

IV. DIRECTORS:

Mr. Arjunlal Saini Director of the company retire by rotation and being offer eligible offer themselves for re-appointment.

V. SECRETARIAL AUDIT REPORT:

The Company has obtained Compliance Certificate from a Company Secretary in whole time practice pursuant to section 383A of the Companies Act, 1956 and is form part of the Balance Sheet.

VI. AUDITORS:

M/s. Sanjay N Shah & Co., Chartered Associates, the retiring Auditors have expressed their willingness to be re-appointed. It has been proposed to reappoint M/s. Sanjay N Shah & Co; Chartered Accountants as Auditors of the Company. The Company has received a Certificate from them that they are qualified under Section 224 (1) of the Companies Act, 1956 for appointment as Auditors of the Company. Members are requested to consider their appointment at a remuneration to be decided by the Board of Directors for the financial year ending March 31, 2015 as set out in the Notice convening the Meeting.

VII. AUDITORS REMARKS:

The remarks of the auditors are self-explanatory in nature and need no further clarification.

VIII. STATUTORY INFORMATION:

The Company had no employees, drawing remuneration in excess of the limits laid out under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

IX. CORPORATE GOVERNANCE:

As required under the Listing Agreement with The Culcutta Stock Exchange Limited, a report on Corporate Governance is given in Annexure "A" to this Report

X. ENERGY CONSERVATION:

Since the company has done trading activity during the year, the provisions of energy conservation are not applicable during the year.

XI. DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors subscribe to the 'Directors Responsibility Statement' and confirm that:-

- In the preparation of the annual accounts, the applicable accounting standards have been followed, along with proper explanation relating to material departures.

- The Directors have 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 or loss of the Company, for that period.

- The Directors have taken proper and sufficient care of 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.

- The Directors have prepared the annual accounts on a going concern basis.

XII. ACKNOWLEDGEMENT:

Your Directors wish to thank the Company's bankers and all other associates, for their co-operation and support during the year.

For and on behalf of Board of Directors

Mr. Arunkumar Dalmia

Chairman & Managing Director

Place : Kolkata

Date : 281h July, 2014


Mar 31, 2012

The Directors have pleasure in presenting the 32nd ANNUAL REPORT, for the year ended 3151 March, 2013.

I. FINANCIAL RESULTS :

(In Rupees)

PARTICULARS CURRENT PREVIOUS YEAR YEAR 31.03.2013 31.03.2012 Income from Operations - - Other Income - -

Less: Total Expenditure 3000.00 27750.00

Profit / (Loss) Before Tax (3000.00) (27750.00)

Less : Taxation - -

Current Tax - -

Mat Entitlement Credit - -

Profit I (Loss) After Taxation (3000.00) (27750.00)

Balance Carried to Balance Sheet (3000.00) (27750.00)

II. GENERAL REVIEW OF OPERATIONS :

The Indian Economy during the year displayed distinct signs of strong long term growth. The Company could not carry out manufacturing & Trading activity during the year under review. However the Company has achieved a post tax Loss of Rs. 3000.00 as compared Loss of Rs. 27750.00 in previous year.

III. DIVIDEND :

In order to conserve the resources of the board of directors are unable to declare any dividend.

IV. DIRECTORS:

Mr. Arjunlal Saini Director of the company retire by rotation and being offer eligible offer themselves for re-appointment.

V. SECRETARIAL AUDIT REPORT:

The Company has obtained Compliance Certificate from a Company Secretary in whole time practice pursuant to section 383A of the Companies Act, 1956 and is form part of the Balance Sheet.

VI. AUDITORS:

M/s. Sanjay N Shah & Co., Chartered Associates, the retiring Auditors have expressed their willingness to be re-appointed. It has been proposed to reappoint M/s. Sanjay N Shah & Co; Chartered Accountants as Auditors of the Company. The Company has received a Certificate from them that they are qualified under Section 224 (1) of the Companies Act, 1956 for appointment as Auditors of the Company. Members are requested to consider their appointment at a remuneration to be decided by the Board of Directors for the financial year ending March 31, 2014 as set out in the Notice convening the Meeting.

VII. AUDITORS REMARKS:

The remarks of the auditors are self-explanatory in nature and need no further clarification.

VIII. STATUTORY INFORMATION:

The Company had no employees, drawing remuneration in excess of the limits laid out under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

IX. CORPORATE GOVERNANCE:

As required under the Listing Agreement with The Culcutta Stock Exchange limited, a report on Corporate Governance is given in Annexure "A" to this Report

X. ENERGY CONSERVATION:

Since the company has not done any manufacturing & trading during the year, the provisions of energy conservation are not applicable during the year.

XI. DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors subscribe to the 'Directors Responsibility Statement' and confirm that:-

- In the preparation of the annual accounts, the applicable accounting standards have been followed, along with proper explanation relating to material departures.

- The Directors have 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 or loss of the Company, for that period.

- The Directors have taken proper and sufficient care of 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.

- The Directors have prepared the annual accounts on a going concern basis.

XII. ACKNOWLEDGEMENT:

Your Directors wish to thank the Company's bankers and all other associates, for their co-operation and support during the year.

For and on behalf of Board of Directors

Mr. Arunkumar Dalmia

Chairman & Managing Director

Place : Kolkata

Date : 28th August, 2013

 
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