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Directors Report of Ind-Agiv Commerce Ltd.

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

 
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