Mar 31, 2014
TO THE MEMBERS
Ind-Agiv Commerce Limited
The Directors hereby present their Twenty Eight Annual Report and
Audited Accounts for the year ended 31st March, 2014.
1. FINANCIAL HIGHLIGHTS: Amount in Lakhs
Particulars 2013-14 2012-13
Sales 727.70 990.38
Other Income 25.88 35.17
Total Income 753.58 1025.55
Profit Before Taxation 6.03 5.86
Less: Provision For Taxation 0.90 0
Net Profit For The Year 5.13 5.86
Balance B/F From Last Year 87.09 81.23
Amount Carried To Balance Sheet 92.22 87.09
2. REVIEW OF OPERATIONS AND FUTURE PLANS:
During the year under review, the company has achieved the turnover of
Rs. 753.58 lakhs as against ^ 1025.55 lakhs during the previous year. The
profit before tax during the year was Rs. 5.13 Lakhs as against Rs. 5.86
lakhs in the previous year. Barring unforeseen circumstance, the
management is hopeful of achieving better results during the current
year.
3. DIVIDEND:
Your Directors decided not to recommend any dividend in view of
inadequacy of profits and conserve funds for the future business plans
of the company.
4. DEPOSITS:
The Company has not accepted any Fixed Deposit during the year.
5. DIRECTORS:
Mr. K. D. Mulchandani & Mr. V. G. Devnani retire by rotation and being
eligible offer themselves for re-appointment as Directors.
6. DIRECTORSRESPONSIBILITYSTATEMENT.
Your Directors state that :
a) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
b) while preparing the annual accounts the policies selected are
consistent and the judgments and estimates applied are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company for the year and of the financial results of the Company
for the year ended on 31st March, 2014.
c) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in safeguarding the assets
of the Company and for preventing and detecting fraud and other
irregularities, and
d) the directors have prepared the annual accounts on a going concern
basis.
7. LISTING ON STOCK EXCHANGE:
Your Company''s Shares are listed in Bombay Stock Exchange and Annual
Listing Fee for the year 2014-15has been paid.
The ISIN code for company''s Equity shares is INE115E01010.
8. PARTICULARS REGARDING CONSERVATION OF ENERGYETC:
Your Company did not carry out any significant activity during the year
requiring disclosure of particulars regarding conservation of Energy
and Technology absorption.
9. PARTICULARS OF EMPLOYEES:
The particulars of employees as required under Section 217(2A) of the
Companies Act. 1956 read with Companies (Particulars of employees)
Rules, 1975 as amended have not been given as there were no employees
in the company drawing remuneration in excess of the limits specified
by the section.
10. INDEPENDENT AUDITO RSREPORT:
As regards the remarks in the Auditors'' Report, please refer to the
notes on Financial Statement which are self explanatory.
11. AUDITORS OF THE COMPANY,
The Auditors M/s. Shah & Bhosale, Chartered Accountants have been
appointed asAuditors of the company till forth coming Annual General
Meeting and have confirmed their eligibility and willingness to accept
the office if re-appointed.
12. COMPLIANCE CERTIFICATE:
A Compliance Certificate from a Secretary in whole-time practice under
Section 383A of the Companies Act, 1956 in respect of the Financial
Year ended on 31st March, 2014 is attached hereto.
13. ACKNOWLEDGMENT:
The Directors would like to thank the Bankers and all others for their
co-operation received during the year.
For and on behalf of the Board
S. C. Oberoi
Registered Office : Director
85, V. N. Purav Marg, DIN - 01996178
Sion-Chunabhatti Road,
Mumbai - 400 022.
CIN - U 32100 MH 1986 PTC 039004
K. D. Mulchandani
Director
Date :- 30th May, 2014 DIN - 02582500
Mar 31, 2013
TO THE MEMBER of Ind-AgivCommerce Limited
The Directors hereby present their Twenty Seventh Annual Report and
Audited Accounts for the year ended 31st March, 2013.
1. FINANCIAL HIGHLIGHTS:
Amount in Lakhs
Particulars 2012-13 2011-12
Sales 990.38 966.04
Other Income 35.17 49.63
Total Income 1025.55 1015.67
Profit Before Taxation 5.82 18.15
Less:
Provision For Taxation 0 9.69
Net Profit For The Year 5.82 8.46
Balance B/F From Last Year 81.23 72.77
Amount Carried To Balance Sheet 87.05 81.23
2. REVIEW OF OPERATIONS AND FUTURE PLANS:
During the year under review, the company has achieved the turnover of
? 1025.55 lakhs as against ? 1015.67 lakhs during the previous year.
The profit before tax during the year was 5.82 Lakhs as against ^ 18.15
in the previous year. Barring unforeseen circumstance, the management
is hopeful of achieving better results during the current year.
3. DIVIDEND:
Your Directors decided not to recommend any dividend in view of
inadequacy of profits and conserve funds for the future business plans
of the company.
4. DEPOSITS:
The Company has not accepted any Fixed Deposit during the year.
5. DIRECTORS:
Mr. I. B. Rupani & Mr. S. C. Oberoi retire by rotation and being
eligible offer themselves for re-appointment as Directors.
6. DIRECTORSRESPONSIBILITYSTATEMENT.
Your Directors state that :
a) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
b) while preparing the annual accounts the policies selected are
consistent and the judgments and estimates applied are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company for the year and of the financial results of the Company
for the year ended on 31st March, 2013.
c) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in safeguarding the assets
of the Company and for preventing and detecting fraud and other
irregularities, and
d) the directors have prepared the annual accountsonagoing concern
basis.
7. LISTINGONSTOCKEXCHANGE:
Your Company''s Shares are listed in Bombay Stock Exchange and Annual
Listing Fee for the year 2013-14 has been paid.
The ISIN code for company''s Equity shares is INE115E01010.
8. PARTICULARSREGARDING CONSERVATIONOFENERGYETC:
Your Company did not carry out any significant activity during the year
requiring disclosure of particulars regarding conservation ofEnergy and
Technology absorption.
ForeignExchangeEarningandOutgo:- TotalForeignExchangeearnedandused
CurrentYear PreviousYear
(i) ForeignExchange earned: 0 0
(ii) Foreign Exchange outgo: 83,70,638 3,69,37,053
(value of imports-goods for
resale and other) (iii) Traveling and Subscription: 4,20,030 41,360
9. PARTICULARSOFEMPLOYEES:
The particulars of employees as required under Section 217(2A) of the
Companies Act. 1956 read with Companies (Particulars of employees)
Rules, 1975 as amended have not been given as there were no employees
in the company drawing remuneration in excess of the limits specified
by the section.
10. INDEPENDENTAUDITORSREPORT:
As regards the remarks in the Auditors'' Report, please refer to the
notes on Financial Statements which are self explanatory.
11. AUDITORSOFTHECOMPANY,
The Auditors M/s. Shah & Bhosale, Chartered Accountants have been
appointed asAuditors of the company till forth coming Annual General
Meeting and have confirmed their eligibility and willingness to accept
the officeif re-appointed.
12. COMPLIANCECERTIFICATE:
A Compliance Certificate from a Secretary in whole-time practice under
Section 383A of the Companies Act, 1956 in respect of the Financial
Year ended on 31st March, 2013 is attached hereto.
13. ACKNOWLEDGMENT:
The Directors would like to thank the Bankers and all others for their
co-operation received during the year.
For and on behalf of the Board
S. C. Oberoi
Registered Office : Director
85, V. N. Purav Marg,
Sion-Chunabhatti Road,
Mumbai - 400 022. K. D. Mulchandani
Director
Date :- 14 August, 2013
Mar 31, 2012
TO THE MEMBERs of Ind-Agiv Commerce Limited
The Directors hereby present their Twenty Sixth Annual Report and
Audited Accounts for the year ended 31st March, 2012.
1. FINANCIAL HIGHLIGHTS:
Amount in Lakhs
Particulars 2011-12 2010-11
Rs. Rs.
Sales 966.04 462.93
Other Income 49.63 59.52
Total Income 1015.67 522.45
Profit Before
Taxation 18.15 10.83
Less:
Provision for Taxation 9.69 3.70
Net Profit for
the Year 8.46 7.13
Balance B/F from
Last Year 72.77 65.64
Amount Carried
to Balance Sheet 81.23 72.77
2. REVIEW OF OPERATIONS AND FUTURE PLANS:
During the year under review, the company has achieved the turnover of
Rs. 966.04 lakhs as against Rs. 462.93 lakhs during the previous year.
The profit before tax during the year was Rs. 18.15 Lakhs as against
Rs. 10.83 in the previous year. Barring unforeseen circumstance, the
management is hopeful of achieving better results during the current
year.
3. DIVIDEND:
Your Directors decided not to recommend any dividend in view of
inadequacy of profits and conserve funds for the future business plans
of the company.
4. DEPOSITS :
The Company has not accepted any Fixed Deposit during the year.
5. DIRECTORS:
Mr. V. B. Rupani and Ms. S. B. Rupani retire by rotation and being
eligible offer themselves for re-appointment as Directors.
6. DIRECTORS RESPONSIBILITY STATEMENT.
Your Directors state that:
a) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
b) while preparing the annual accounts the policies selected are
consistent and the judgments and estimates applied are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company for the year and of the financial results of the Company
for the year ended on 31st March, 2012.
c) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in safeguarding the assets
of the Company and for preventing and detecting fraud and other
irregularities, and
d) the directors have prepared the annual accounts on a going concern
basis.
7. LISTING ON STOCK EXCHANGE:
Your Company's Shares are listed in Bombay Stock Exchange and Annual
Listing Fee for the year 2012-13 has been paid.
The ISIN code for company's Equity shares is INE115E01010.
8. PARTICULARS REGARDING
CONSERVATION OF ENERGY ETC:
Your Company did not carry out any significant activity during the year
requiring disclosure of particulars regarding conservation of Energy
and Technology absorption.
9. PARTICULARS OF EMPLOYEES:
The particulars of employees as required under Section 217(2A) of the
Companies Act. 1956 read with Companies (Particulars of employees)
Rules, 1975 as amended have not been given as there were no employees
in the company drawing remuneration in excess of the limits specified
by the section.
10. AUDITORS' REPORT:
As regards the remarks in the Auditors' Report, please refer to the
notes on Financial Statements which are self explanatory.
11. AUDITORS OF THE COMPANY:
The Auditors Shah & Bhosale, Chartered Accountants have been appointed
as Auditors of the company till forth coming Annual General Meeting and
have confirmed their eligibility and willingness to accept the office
if re-appointed.
12. COMPLIANCE CERTIFICATE:
A Compliance Certificate from a Secretary in whole-time practice under
Section 383A of the Companies Act, 1956 in respect of the Financial
Year ended on 31st March, 2012 is attached hereto.
13. ACKNOWLEDGMENT:
The Directors would like to thank the Bankers and all others for their
co-operation received during the year.
For and on behalf of the Board
S. C. Oberoi
Director
K. D. Mulchandani
Director
Registered Office :
85, V. N. Purav Marg,
Sion - Chunabhatti Road,
Mumbai - 400 022.
Date:- 21st August, 2012
Mar 31, 2011
TO THE MEMBERS
Ind-Agiv Commerce Limited
The Directors hereby present their Twenty Fifth Annual Report and
Audited Accounts for the year ended 31st March, 2011.
1. FINANCIAL HIGHLIGHTS:
Particulars 2010-11 2009-10
Rs. Rs.
Sales 46292993 24381980
Other Income 5952406 5761915
Total Income 52245399 30143895
Profit Before
Taxation 1082749 1023023
Less:
Provision For 369882 351890
Taxation
Net Profit For 712867 671133
The Year
Balance B/F From 6564488 5893355
Last Year
Amount Carried 7277355 6564488
To Balance Sheet
2. REVIEW OF OPERATIONS AND FUTURE PLANS:
During the year under review, the company has achieved the turnover of
Rs. 4,62,92,993/- as against Rs. 2,43,81,980/- during the previous year.
The profit before tax during the year was Rs. 10,82,749/- as against Rs.
10,23,023/- in the previous year. Barring unforeseen circumstance, the
management is hopeful of achieving better results during the current
year.
3. DIVIDEND:
Your Directors decided not to recommend any dividend in view of
inadequacy of profits and conserve funds for the future business plans
of the company.
4. DEPOSITS:
The Company has not accepted any Fixed Deposit during the year.
5. DIRECTORS:
Mr. I. B. Rupani and Mr. S. C. Oberoi retire by rotation and being
eligible offer themselves for re-appointment as Directors.
6. DIRECTORS RESPONSIBILITY STATEMENT.
Your Directors state that:
a) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
b) while preparing the annual accounts the policies selected are
consistent and the judgments and estimates applied are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company for the year and of the financial results of the Company
for the year ended on 31st March, 2011.
c) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in safeguarding the assets
of the Company and for preventing and detecting fraud and other
irregularities, and
d) the directors have prepared the annual accounts on a going concern
basis.
7. LISTING ON STOCK EXCHANGE:
Your Company's Shares are listed in Bombay Stock Exchange and Annual
Listing Fee for the year 2011-2012 has been paid.
The ISIN code for company's Equity shares is INE115E01010.
8. PARTICULARS REGARDING CONSERVATION OF ENERGY ETC :
Your Company did not carry out any significant activity during the year
requiring disclosure of particulars regarding conservation of Energy
and Technology absorption.
Foreign Exchange Earning and Outgo :- Total Foreign Exchange earned and
used
Current Year Previous Year
(i) Foreign Exchange earned 0 8,90,802
(ii) Foreign Exchange outgo 6,72,402 10,59,351
(value of imports-goods for
resale and other)
(iii) Traveling and 1,54,277 0
Subscription
9. PARTICULARS OF EMPLOYEES:
The particulars of employees as required under Section 217(2A) of the
Companies Act. 1956 read with Companies (Particulars of employees)
Rules, 1975 as amended have not been given as there were no employees
in the company drawing remuneration in excess of the limits specified
by the section.
10. AUDITORS'REPORT:
As regards the remarks in the Auditors' Report, please refer to the
notes on Accounts on Schedule-15 which are self explanatory.
11. AUDITORS OF THE COMPANY,
The Auditors M/s. Shah & Bhosale, Chartered Accountants have been
appointed as Auditors of the company till forth coming Annual General
Meeting and have confirmed their eligibility and willingness to accept
the office if re-appointed.
12. COMPLIANCE CERTIFICATE:
A Compliance Certificate from a Secretary in whole-time practice under
Section 383A of the Companies Act, 1956 in respect of the Financial
Year ended on 31st March, 2011 is attached hereto.
13. ACKNOWLEDGMENT:
The Directors would like to thank the Bankers and all others for their
co-operation received during the year.
For and on behalf of the Board
S. C. Oberoi
Director
K. D. Mulchandani
Director
Registered Office:
85, V. N. Purav Marg,
Sion-Chunabhatti Road,
Mumbai - 400 022.
Date:- 30th August, 2011
Mar 31, 2010
The Directors hereby present their Twenty Fourth Annual Report and
Audited Accounts for the year ended 31st March, 2010.
1. FINANCIAL HIGHLIGHTS:
Particulars 2009-10 2008-09
Rs. Rs.
Sales 24381980 22141629
Other Income 5761915 5514834
Total Income 30143895 27656463
Profit Before
Taxation 1023023 988845
Less:
Provision For Taxation 351890 382968
Net Profit For
The Year 671133 605877
Balance B/F From
Last Year 5893355 5287478
Amount Carried
To Balance Sheet 6564488 5893355
2. REVIEW OF OPERATIONS AND FUTURE PLANS:
During the year under review, the company has achieved the turnover of
Rs. 2,43,81,980/- as against Rs. 2,21,41,629/- during the previous
year. The profit before tax during the year was Rs. 10,23,023/- as
against Rs. 9,88,845/- in the previous year. Barring unforeseen
circumstance, the management is hopeful of achieving better results
during the current year.
3. DIVIDEND :
Your Directors decided not to recommend any dividend in view of
inadequacy of profits and conserve funds for the future business plans
of the company.
4. DEPOSITS:
The Company has not accepted any Fixed Deposit during the year.
5. DIRECTORS:
Mr. K. D. Mulchandani and Mr. V. G. Devnani retire by rotation and
being eligible offer themselves for re-appointment as Directors.
6. DIRECTORS RESPONSIBILITY STATEMENT.
Your Directors state that:
a) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
b) while preparing the annual accounts the policies selected are
consistent and the judgments and estimates applied are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company for the year and of the financial results of the Company
for the year ended on 31s,March,2010.
c) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in safeguarding the assets
of the Company and for preventing and detecting fraud and other
irregularities, and
d) the directors have prepared the annual accounts on a going concern
basis.
7. LISTING ON STOCK EXCHANGE:
Your Companys Shares are listed in Bombay Stock Exchange and Annual
Listing Fee for the year 2010-2011 has been paid.
The ISIN code for companys Equity shares is INE115E01010.
8. PARTICULARS REGARDING CONSERVATION OF ENERGY ETC :
Your Company did not carry out any significant activity during the year
requiring disclosure of particulars regarding conservation of Energy
and Technology absorption.
Foreign Exchange Earning and Outgo :- Total Foreign Exchange earned and
used
Current Year Previous Year
(i) Foreign Exchange earned: 8,90,802 38,32,827
(ii) Foreign Exchange outgo: 10,59,351 28,70,082
(value of imports-goods for
resale and other)
(iii) Traveling and Subscription: 0 5,28,467
9. PARTICULARS OF EMPLOYEES:
The particulars of employees as required under Section 217(2A) of the
Companies Act. 1956 read with Companies (Particulars of employees)
Rules, 1975 as amended have not been given as there were no employees
in the company drawing remuneration in excess of the limits specified
by the section.
10. AUDITORSREPORT:
As regards the remarks in the Auditors Report, please refer to the
notes on Accounts on Schedule-15 which are self explanatory.
11. AUDITORS OF THE COMPANY,
The Auditors M/s. Shah & Bhosale, Chartered Accountants have been
appointed as Auditors of the company till forth coming Annual General
Meeting and have confirmed their eligibility and willingness to accept
the office if re-appointed.
12. COMPLIANCE CERTIFICATE:
A Compliance Certificate from a Secretary in whole-time practice under
Section 383A of the Companies Act, 1956 in respect of the Financial
Year ended on 31st March, 2010 is attached hereto.
13. ACKNOWLEDGMENT:
The Directors would like to thank the Bankers and all others for their
co-operation received during the year.
For and on behalf of the Board
S. C. Oberoi
Registered Office: Director
85, V. N. Purav Marg,
Sion-Chunabhatti Road,
Mumbai - 400 022. K D Mulchandani
Director
Date :- 4th September, 2010