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Directors Report of Inani Securities Ltd.

Mar 31, 2014

The Members,

Directors have pleasure in presenting the 20th Annual Report of your company on the business operations together with the audited financial accounts for the financial year ended 31st March, 2014.

A snapshot of the Financial performance of the company for the year 2013-14 is as under:

Year ended Year ended 31st March 2014 31st March 2013 Particulars (Rs.in Lakhs) (Rs.in Lakhs)

Total Revenue 177.83 198.93

Profit before Interest, Depreciation & Tax 69.26 70.00

Profit before Depreciation & Tax 31.27 23.37

Profit Before Tax & Execptional Items 16.98 10.77

Prior year Adjustment & Execptional Items 27.87 15.74

Net Profit Before taxation 44.85 26.51

Less : Provision for Tax

- Current tax 8.55 5.05

- Deferred Tax 1.23 2.39

Net Profit 35.08 19.07

Add : Balance brought forward from the last year 873.99 850.69

(Earlier Year Tax)/Refund (1.30) 4.23

Profit available for approriation 907.77 873.99

Proposed Dividend - -

Balance carried to Balance Sheet 907.77 873.99

During the year under review the financial year 2013-14 was marked by a fairly tough financial environment due to slowdown in some of the major economies of the world. Reflecting the subdued scenario, the Net profit after tax of your company stood at Rs. 35.08 Lacs.

Keeping in view the future expansion plans and capital requirements of the company, the Board of Directors believe it is necessary to conserve cash flow and thereby do not recommend any dividend for the year 2013-14.

Mr. Dhanraj Soni retires by rotation at the ensuing Annual General Meeting and being eligible, offer himself for re-appointment.

Mr. Suresh Jankiram Kabra has been ceased to be a Director of the Company w.e.f. 29.12.2013 due to his death which has been taken on record in the Board Meeting held on 31. 01.2014. The Board of Directors condolense the untimely demise of Mr. Suresh Jankiram Kabra and took on record the invaluable contributions made by him towards the progress of the Company.

The Board in its meeting held on 25th March 2014 had appointed Mrs Rama Kabra to fill the casual vacancy caused due to death of Mr Suresh Jankiram Kabra.

M/s. G.D. Upadhyay & Co., Chartered Accountants(Firm Registration No. 05834S), Auditors of the Company hold office till conclusion of the ensuing Annual General Meeting of the company and are eligible for re-appointment. The Company is in receipt of confirmation from M/s. G.D. Upadhyay & Co, that in the event of their re-appointment as statutory auditors of the Company, such re-appointment will be within the prescribed limits specified U/s 141(3)(g) of the Companies Act, 2013. The Board of Directors proposes to re-appoint them for another term and will hold office till the conclusion of the next Annual General Meeting.

The Equity shares of the Company are listed on Bombay Stock Exchange Ltd., (B S E). The company has paid upto date annual listing fees of the Stock Exchange.

Your company has neither invited nor accepted any deposits from public during the year under review.

The company engaged in providing financial services and as such its operations do not account for substantial energy consumption. However, the company is taking all possible measures to conserve energy. Several environment friendly measures have been adopted by the company such as :

· Installation of TFT monitors that save power

· Automatic power shutdown of idle monitors.

· Creating environmental awareness by way of distributing information in electronic form.

· Minimising air-conditioning usage

· Shutting off all the lights when not in use

· Education and awareness programmes for employees.

The management understands the importance of technology in the business segments it operates and lays utmost emphasis on system development and the use of best technology available in the industry. The management keeps itself abreast with technological advancements in the industry and ensures continued and sustained efforts towards absorption of technology, adaptation as well as development of the same to meet business needs and objectives.

c) FOREIGN EXCHANGE EARNINGS/OUTGO

There are no FOREX transactions during the year under review.

No employee of your company is in receipt of remuneration of Rs. 60 lakhs P.A. or part thereof pursuant to Section 217(2A) of the Companies Act, 1956 and the companies (Particulars of Employees), Rules 1975 as amended.

The company is committed to uphold the highest standards of Corporate Governance and adhere to the requirements set out by Securities and Exchange Board of India and stock Exchanges, As part of the Company''s efforts towards better corporate practice and transparency, a separate report on Corporate Governance compliances is included as a part of the Annual Report.

A certificate from M/s. G.D. Upadhyay & Co., Chartered Accountants, the Statutory Auditors, regarding compliance with the conditions of Corporate Governance as stipulated under clause 49 of the Listing Agreement is attached to this report on Corporate Governance.

Pursuance to provisions of Section 217(2AA) of the Companies Act, 1956 the Directors of your

company confirm that :

i. in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation prelating to material departures, if any, therefrom; ii. appropriate Accounting policies have been selected and applied them consistently.

The Judgments and estimates made 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 ended 31st March, 2014 and of the profit of company for the said period. iii proper and sufficient care has been taken for the maintenance of 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.

Your Directors would like to express their sincere appreciation for the co-operation and assistance received from the Bankers, Regulatory bodies, stake holders and other business associates who have extended their valuable sustained support and encouragement during the year under review.

Your Directors take this opportunity to recognize and place on record their gratitude and appreciation for the commitment displayed by all employees at all levels of the company. We look forward to their continued support in the future.

By order of the Board

Sd/- Chairman Place : Hyderabad Registered Office Date : 31.07.2014 G-15, Raghava Ratna Towers, 5-8-352/14 & 15, Chirag Ali Lane, Hyderabad - 1. CIN No : L67120AP1994PLC017583


Mar 31, 2013

To The Members,

The Directors have pleasure in presenting the 19th Annual Report of your company on the business operations together with the audited financial accounts for the financial year ended 31st March, 2013.

FINANCIAL RESULTS:

A snapshot of the Financial performance of the Company for the year 2012-13 is as under:

Year ended Year ended Particulars 31st March 2013 31st March 2012 (Rs.in Lakhs) (Rs.in Lakhs)

Total Revenue 198.93 231.73

Profit before Interest, Depreciation&Tax 70.00 89.57

Profit before Depreciation & Tax 57.40 47.58

Profit Before Tax & Execptional Items 10.77 35.24

Prior year Adjustment & Execptional Items 15.74 (3.26)

Net Profit Before taxation 26.51 31.98

Less : Provision for Tax

- Current tax 5.05 8.44

- Deferred Tax 2.39 1.48

Net Profit 19.07 22.06

Add : Balance brought forward from the last year 850.69 828.63

Earlier Year Tax/Refund 4.23 0

Profit available for approriation 873.99 850.69

Proposed Dividend

Balance carried to Balance Sheet 873.99 850.69

REVIEW OF PERFORMANCE:

During the year under review the financial year 2012-13 was marked by a fairly tough financial environment due to slowdown in some of the major economies of the world. Reflecting the subdued scenario, the Net profit after tax of your company stood reduced to Rs. 19.07Lacs.

DIVIDEND:

Keeping in view the future expansion plans and capital requirements of the company, the Board of Directors believe it is necessary to conserve cash flow and thereby do not recommend any dividend for the year 2012-13.

DIRECTORS:

In accordance with the provisions of section 255 of the Companies act,1956 and articles 113 of the Articles of Association of the Company Mr. Suresh Jankiram Kabra Director retires by rotation at the ensuing Annual General meeting and being eligible, offer himselves for the re- appointment.

Shri Ramesh Athasniya retires by rotation at the ensuing Annual General Meeting and has given a notice to the Company expressing his unwillingness to be re-appointed. The Board received notice proposing to appoint Shri Dhanraj Soni in place of Shri Ramesh Athasniya.

STATUTORY AUDITORS:

M/s. G.D. Upadhyay & Co., Chartered Accountants Auditors of the Company hold office till conclusion of the ensuing Annual General Meeting of the company and are eligible for the re- appointment. The Company is in receipt of confirmation from M/s. G.D. Upadhyay & Co, that in the event of their re-appointment as statutory auditors of the Company, such re-appointment will be within the prescribed limits specified U/s 224(1 B) of the companies Act, 1956. The Board of Directors proposes to re-appoint them for another term and will hold office till the conclusion of the next Annual General Meeting. LISTING ARRANGEMENT:

The Equity shares of the Company are listed on Bombay Stock Exchange Ltd., (B S E). The listing fees for the year 2013-14 has been paid to the Exchange.

PUBLIC DEPOSITS:

Your company has neither invited nor accepted any deposits from public within the meaning of Section 58A of the Companies Act, 1956 during the year under review.

STATUTORY INFORMATION:

A. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE

EARNINGS AND OUTGO:

a) CONSERVATION OF ENERGY

The company engaged in providing financial services and as such its operations do not account for substantial energy consumption. However, the company is taking all possible measures to conserve energy. Several environment friendly measures have been adopted by the company such as:

- Installation of TFT monitors that save power

- Automatic power shutdown of idle monitors.

- Creating environmental awareness by way of distributing information in electronic form.

- Minimising air-conditioning usage

- Shutting off all the lights when not in use

- Education and awareness programmes for employees.

b) TECHNOLOGY ABSORPTION

The management understands the importance of technology in the business segments it operates and lays utmost emphasis on system development and the use of best technology available in the industry. The management keeps itself abreast with technological advancements in the industry and ensures continued and sustained efforts towards absorption of technology, adaptation as well as development of the same to meet business needs and objectives.

c) FOREIGN EXCHANGE EARNINGS/OUTGO

There are no FOREX transactions during the year under review.

PARTICULARS OF EMPLOYEES :

No employee of your company is in receipt of remuneration of Rs. 60 lakhs P.A. or part thereof pursuant to Section 217(2A) of the Companies Act, 1956 and the companies (Particulars of Employees), Rules 1975 as amended.

CORPORATE GOVERNANCE :

The company is committed to uphold the highest standards of Corporate Governance and adhere to the requirements set out by Securities and Exchange Board of India and stock Exchanges, As part of the Company''s efforts towards better corporate practice and transparency, a separate report on Corporate Governance compliances is included as a part of the Annual Report.

A certificate from M/s. G.D. Upadhyay & Co., Chartered Accountants the Statutory Auditors, regarding compliance with the conditions of Corporate Governance as stipulated under clause 49 of the Listing Agreement is attached to this report on Corporate Governance.

DIRECTORS'' RESPONSIBILITY STATEMENT:

Pursuance to provisions of Section 217(2AA) of the Companies Act, 1956 the Directors of your confirm that:

i. in the preparation of the annual accounts for the financial year ended 31st March, 2013, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any, therefrom;

ii. appropriate Accounting policies have been selected and applied them consistently. The Judgments and estimates made 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 ended 31st March, 2013 and of the profit of company for the said period.

iii proper and sufficient care has been taken for the maintenance of accounting records in accordance with the provisions of this 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.

ACKNOWLEDGEMENTS:

Your Directors would like to express their sincere appreciation for the co-operation and assistance received from the Bankers, Regulatory bodies, stake holders and other business associates who have extended their valuable sustained support and encouragement during the year under review.

Your Directors take this opportunity to recognize and place on record their gratitude and appreciation for the commitment displayed by all employees at all levels of the company. We look forward to their continued support in the future.

By order of the Board

Sd/-

Place : Hyderabad SHRIGOPALINANI

Date : 30.05.2013 Chairman


Mar 31, 2012

The Directors have pleasure in presenting the 18th Annual Report of your company on the business operations together with the audited financial accounts for the financial year ended 31st March, 2012.

FINANCIAL RESULTS:

A snapshot of the Financial performance of the Company for the year 2011-12 is as under:

Year ended Year ended Particulars 31st March 2012 31st March 2011 (Rs.in Lakhs) (Rs.in Lakhs)

Total Revenue 231.73 270.48

Profit before Interest, Depreciation & Tax 89.57 110.28

Profit before Depreciation & Tax 47.58 87.31

Profit Before Tax & Expectional Items 35.24 73.35

Less: Prior year Adjustment & Expectional Items 3.26 2.46

Net Profit Before taxation 31.98 70.89

Less : Provision for Tax - Current tax 8.44 21.33

- Deferred Tax 1.48 0.50

Net Profit 22.06 49.06

Add : Balance brought forward from the last year 828.63 780.01

Less: Earlier Year Tax 0 0.45

Profit available for appropriation 850.69 828.63

Proposed Dividend - -

Balance carried to Balance Sheet 850.69 828.63

REVIEW OF PERFORMANCE:

During the year under review the financial year 2011-12 was marked by a fairly tough financial environment due to slowdown in some of the major economies of the world. Reflecting the subdued scenario, the Net profit after tax of your company stood reduced to Rs. 22.06 Lacs.

DIVIDEND:

Keeping in view the future expansion plans and capital requirements of the company, the Board of Directors believe it is necessary to conserve cash flow and thereby do not recommend any dividend for the year 2011-12.

DIRECTORS:

In accordance with the provisions of section 255 of the Company act,1956 and articles 113 of the Articles Association of the Company Mr. Shrigopal Inani and Mr. Anand Rameshchandra Chandak Director(s) retires by rotation at the ensuing Annual General meeting and being eligible, offer themselves for the re-appointment.

STATUTORY AUDITORS:

M/s. G.D. Upadhyay & Co., Chartered Accountants Auditors of the Company hold office till conclusion of the ensuing Annual General Meeting of the company and are eligible for the re- appointment. The Company is in receipt of confirmation from M/s. G.D. Upadhyay & Co., that in the event of their re-appointment as statutory auditors of the Company, such re-appointment will be within the prescribed limits specified U/s 224(1B) of the Companies Act, 1956. The Board of Directors proposes to re-appoint them for another term and will hold office till the conclusion of the next Annual General Meeting.

LISTING ARRANGEMENT:

The Equity shares of the Company are listed on Bombay Stock Exchange Ltd., (B S E). The listing fees for the year 2012-13 has been paid to the Exchange.

PUBLIC DEPOSITS:

Your company has neither invited nor accepted any deposits from public within the meaning of Section 58A of the Companies Act, 1956 during the year under review.

STATUTORY INFORMATION:

A. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO :

a). CONSERVATION OF ENERGY

The company is engaged in providing financial services and as such its operations do not account for substantial energy consumption. However, the company is taking all possible measures to conserve energy. Several environment friendly measures have been adopted by the company such as :

- Installation of TFT monitors that save power

- Automatic power shutdown of idle monitors.

- Creating environmental awareness by way of distributing information in electronic form.

- Minimising air-conditioning usage

- Shutting off all the lights when not in use

- Education and awareness programmes for employees.

b) TECHNOLOGY ABSORPTION

The management understands the importance of technology in the business segments, it operates and lays utmost emphasis on system development and the use of best technology available in the industry. The management keeps itself abreast with technological advancements in the industry and ensures continued and sustained efforts towards absorption of technology, adaptation as well as development of the same to meet business needs and objectives.

c) FOREIGN EXCHANGE EARNINGS/OUTGO

There are no FOREX transactions during the year under review.

PARTICULARS OF EMPLOYEES :

No employee of your company is in receipt of remuneration of Rs. 60 lakhs p.a. or part thereof pursuant to Section 217 (2A) of the Companies Act, 1956 and the Companies (Particulars of Employees), Rules 1975 as amended.

CORPORATE GOVERNANCE:

The company is committed to uphold the highest standards of Corporate Governance and adhere to the requirements set out by Securities and Exchange Board of India and stock Exchanges, As part of the Company's efforts towards better corporate practice and transparency, a separate report on Corporate Governance compliances is included as a part of the Annual Report.

A certificate from M/s. G.D. Upadhyay & Co., Chartered Accountants the Statutory Auditors, regarding compliance with the conditions of Corporate Governance as stipulated under clause 49 of the Listing Agreement is attached to this report on Corporate Governance.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuance to provisions of Section 217(2AA) of the Companies Act, 1956 the Directors of your Company confirm that :

i. In the preparation of the annual accounts for the financial year ended 31st March, 2012, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any, therefrom;

ii. appropriate Accounting Policies have been selected and applied them consistently. The Judgments and estimates made 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 ended 31st March, 2012 and of the profit of company for the said period.

iii. proper and sufficient care has been taken for the maintenance of accounting records in accordance with the provisions of this 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.

ACKNOWLEDGEMENTS:

Your Directors would like to express their sincere appreciation for the co-operation and assistance received from the Bankers, Regulatory bodies, stake holders and other business associates who have extended their valuable sustained support and encouragement during the year under review.

Your Directors take this opportunity to recognize and place on record their gratitude and appreciation for the commitment displayed by all employees at all levels of the company. We look forward to their continued support in the future.

By order of the Board Sd/-

Place : Hyderabad SHRIGOPAL INANI

Date : 30.05.2012 Chairman


Mar 31, 2011

The Directors have pleasure in presenting the 17th Annual Report of your company on the business operations together with the audited financial accounts for the financial year ended 31st March, 2011.

FINANCIAL RESULTS:

A snapshot of the Financial performance of the Company for the year 2010-11 is as under:

Year ended Year ended Particulars 31st March 2011 31st March 2010 (Rs.in Lakhs) (Rs.in Lakhs)

Total Revenue 249.04 252.60

Profit before Interest, Depreciation & Tax 110.28 113.01

Profit before Depreciation & Tax 87.31 93.58

Profit Before Tax & Expectional Item 73.35 75.72

Less: Prior year Adjustment & Expectional Items 2.46 1.51

Net Profit Before taxation 70.89 74.21

Less : Provision for Tax

- Current tax 21.33 22.89

- Deferred Tax 0.50 (0.20)

- Earlier Year Tax 0.45 1.01

Net Profit 48.61 50.51

Add : Balance brought forward from the last year 780.01 729.50

Profit available for approriation 828.63 780.01

Proposed Dividend - -

Balance carried to Balance Sheet 828.63 780.01

REVIEW OF PERFORMANCE:

During the year under review the financial year 2010-11 was marked by a fairly tough financial environment due to slowdown in some of the major economies of the world. The Net profit after tax of your company stood reduced to Rs. 48.61 Lacs (Previous Year Rs. 50.51 Lacs ).

DIVIDEND:

Your Directors do not recommend any dividend for the year 2010-11.

DIRECTORS:

In accordance with the provisions of section 255 of the Companies Act, 1956 and article 113 of the Articles of Association of the Company, Mr. Suresh Janakiram Kabra and Mr. Ramesh Ashasiya Director(s) retires by rotation at the ensuing Annual General meeting and being eligible, offer themselves for the re-appointment.

STATUTORY AUDITORS:

M/s. G.D. Upadhyay & Co., Chartered Accountants Auditors of the Company hold office till conclusion of the ensuing Annual General Meeting of the company and are eligible for the re- appointment. The Company is in receipt of confirmation from M/s. G.D. Upadhyay & Co., that in the event of their re-appointment as statutory auditors of the Company, such re-appointment will be within the prescribed limits specified U/s 224(1B) of the Companies Act, 1956. The Board of Directors proposes to re-appoint them for another term and will hold office till the conclusion of the next Annual General Meeting.

LISTING ARRANGEMENT:

Your Companys shares are listed on

1) Bombay Stock Exchange Ltd., (BSE)

The listing fees for the year 2010-11 have been paid.

PUBLIC DEPOSITS:

During the year under review, your company has not accepted any Public Deposits pursuant to section 58A of the Companies Act, 1956.

STATUTORY INFORMATION:

A. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO :

a). CONSERVATION OF ENERGY

The company is engaged in providing financial services and as such its operations do not account for substantial energy consumption. However, the company is taking all possible measures to conserve energy. Several environment friendly measures have been adopted by the company such as :

- Installation of TFT monitors that save power

- Automatic power shutdown of idle monitors.

- Creating environmental awareness by way of distributing information in electronic form.

- Minimising air-conditioning usage

- Shutting off all the lights when not in use

- Education and awareness programmes for employees.

b) TECHNOLOGY ABSORPTION

The management understands the importance of technology in the business segments, it operates and lays utmost emphasis on system development and the use of best technology available in the industry. The management keeps itself abreast with technological advancements in the industry and ensures continued and sustained efforts towards absorption of technology, adaptation as well as development of the same to meet business needs and objectives.

C) FOREIGN EXCHANGE EARNINGS/OUTGO

There are no FOREX transactions during the year under review.

PARTICULARS OF EMPLOYEES :

No employee of your company is in receipt of remuneration of Rs. 60 lakhs p.a. or part thereof pursuant to Section 217 (2A) of the Companies Act, 1956 and the Companies (Particulars of Employees), Rules 1975 as amended.

CORPORATE GOVERNANCE :

Your company has complied with all the mandatory provisions of the revised clause 49 of the Listing Agreement. As part of the Companys efforts towards better corporate practice and transparency, a separate report on Corporate Governance compliances is included as a part of the Annual Report.

A certificate from the Statutory Auditors, regarding compliance with the conditions of Corporate Governance as stipulated under clause 49 of the Listing Agreement is attached to this report on Corporate Governance.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to provisions of Section 217(2AA) of the Companies Act, 1956 the Directors of your Company confirm that:

i. in preparation of the annual accounts for the financial year ended 31st March, 2011, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any, there from;

ii. appropriate accounting policies have been selected and applied them consistently. The Judgements and estimates made 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 ended 31st March, 2011 and of the profit of company for the said period.

iii proper and sufficient care has been taken for the maintenance of accounting records in accordance with the provisions of this 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.

ACKNOWLEDGEMENTS:

The Directors place on record their gratitude to the Government, Regulators, Stock Exchanges, other Statutory bodies and the companys bankers for the assistance, co-operation and encouragement extended to the Company.

The Directors would like to take this opportunity to express sincere thanks to its valued clients for their continued patronage.The Directors express their deep sense of appreciation of all the employees, whose continuing support, commitment and intiatives has made the organisations growth. Finally, the Directors wish to express their gratitude to the shareholders for their trust and support in the future.

for and on behalf of the Board

Sd/- SHRIGOPAL INANI Chairman

Place : Hyderabad Date : 24th June, 2011


Mar 31, 2010

The Directors have pleasure in presenting the 16th Annual Report of your company on the business operations together with the audited financial accounts for the financial year ended 31st March, 2010.

FINANCIAL RESULTS:

A snapshot of the Financial performance of the Company for the year 2009-10 is as under:

Year ended Year ended

Particulars 31st March 2010 31st March, 2009 (Rs.in Lakhs) (Rs.in Lakhs)

Total Revenue 252.60 232.82

Profit before Interest, Depreciation&Tax 113.01 99.00

Profit before Depreciation & Tax 93.58 73.34

Profit Before Tax & Expectional Item 75.72 56.07

Less: Prior year Adjustment & Expectional Items 1.51 0.06

Net Profit Before taxation 74.21 56.01

Less : Provision for Tax

- Current tax 22.89 16.56

- Deferred Tax (0.20) 1.64

- Fringe Benefit Tax - 1.18

Tax Adjustment of earlier years (Net) 1.01 -

Less : Adjustment for employee benefits - 2.26

Net Profit 50.51 34.37

Add : Balance brought forward from the last year 729.50 695.13

Profit available for approriation 780.01 729.50 Proposed Dividend

Balance carried to Balance Sheet 780.01 729.50

REVIEW OF PERFORMANCE:



During the year under review the profit before tax increased to Rs.50.51 lacs from Rs. 34.37 lacs in previous year. The return of confidence in Economy and Stock Markets added to the financial performance of your company and overall growth of the company was satisfactory.

DIVIDEND:

Your Directors do not recommend any dividend for the year 2009-10.

DIRECTORS:

In accordance with the provisions of section 255 of the Company act, 1956 and article 113 of the Articles of Association of the Company, Mr. Shrigopal Inani and Mr. Anand Rameshchandra Chandak Directors) retires by rotation at the ensuing Annual General meeting and being eligible, offer themselves for the re-appointment.

STATUTORY AUDITORS:

M/s. G.D. Upadhyay & Co., Chartered Accountants Auditors of the Company hold office till conclusion of the ensuing Annual General Meeting of the company and are eligible for the re- appointment. The Company is in receipt of confirmation from M/s. G.D. Upadhyay & Co., that in the event of their re-appointment as statutory auditors of the Company, such re-appointment will be within the prescribed limits specified U/s 224(1 B) of the companies Act, 1956. The Board of Directors proposes to re-appoint them for another term and will hold office till the conclusion of the next Annual General Meeting.

LISTING ARRANGEMENT:

Your Companys shares are listed on

1) Bombay Stock Exchange Ltd., (B S E)

The listing fees for the year 2010-11 have been paid.

PUBLIC DEPOSITS:

During the year under review, your company has not accepted any Public Deposits pursuant to section 58A of the Companies Act, 1956.

STATUTORY INFORMATION:

A: CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO :

a). CONSERVATION OF ENERGY

The company is engaged in providing financial services and as such its operations do not account for substantial energy consumption. However, the company is taking all possible measures to conserve energy. Several environment friendly measures have been adopted by the company such as :

- Installation of TFT monitors that save power

- Automatic power shutdown of idle monitors.

- Creating environmental awareness by way of distributing information in electronic form.

- Minimising air-conditioning usage

- Shutting off all the lights when not in use

- Education and awareness programmes for empoyees.

b) TECHNOLOGY ABSORPTION

The management understands the importance of technology in the business segments it operates and lays utmost emphasis on system development and the use of best technology available in the industry. The management keeps itself abreast with technological advancements in the industry and ensures continued and sustained efforts towards absorption of technology, adaptation as well as development of the same to meet business needs and objectives.

c) FOREIGN EXCHANGE EARNINGS/OUTGO

There was a Foreign Exchange outflow of Rs.3.34 Lacs during the year under review.

PARTICULARS OF EMPLOYEES :

No employee of your company is in receipt of remuneration of Rs. 24 lakhs p.a. or part thereof pursuant to Section 217 (2A) of the Companies Act, 1956 and the companies (Particulars of Employees), Rules 1975 as amended.

CORPORATE GOVERNANCE :

Your company has complied with all the mandatory provisions of the revised clause 49 of the Listing Agreement. As part of the Companys efforts towards better corporate practice and transparency, a separate report on Corporate Governance compliances is included as a part of the Annual Report.

A certificate from the Statutory Auditors, regarding compliance with the conditions of Corporate Governance as stipulated under clause 49 of the Listing Agreement is attached to this report on Corporate Governance.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuance to provisions of Section 217(2AA) of the Companies Act, 1956 the Directors of your Company confirm that:

i. in preparation of the annual accounts for the financial year ended 31 st March, 2009, the applicable accounting standards have been followed along with proper explanation relating to"material departures, if any, there from;

ii. appropriate accounting policies have been selected and applied them consistently. The Judgements and estimates made 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 ended 31 st March, 2009 and of the profit of company for the said period.

iii proper and sufficient care has been taken for the maintenance of accounting records in accordance with the provisions of this 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.

ACKNOWLEDGEMENTS:

The Directors place on record their gratitude to the Government, regulators, stock exchanges, other statutory bodies and the companys bankers for the assistance, co-operation and encouragement extended to the Company.

The Directors would like to take this opportunity to express sincere thanks to its valued clients for their continued.patronage.The Directors express their deep sense of appreciation of all the employees, whose continuing support, commitment and intiatives has made the organisations growth. Finally, the Directors wish to express their gratitude to the shareholders for their trust and support in the future.



for and on behalf of the Board

Place : Hyderabad Sd/-

SHRIGOPAL INANI

Date :31st July, 2010 Chairman





 
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