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Directors Report of Intellivate Capital Advisors Ltd.

Mar 31, 2014

Dear Shareholders,

Intellivate Capital Advisors Limited.

The Directors are pleased to present their 3-Annual Report to gether with audited account statement for the year ended on the 31-March, 2014.

1. BUSINESS ACTIVITY:

The Company''s financial result for the year ended on the 31- March, 2014 is as under:

Current Year Previous Year S. Particulars (in Rs. lacs) (in Rs. lacs) No.

i) Total Receipt 15,14,993 25,90,355

ii) Profit/(Loss) before Depreciation 4,51,374 2,42,668

iii) Depreciation 1,48,080 1,48,080

iv) Profit/(Loss) Before Tax 3,03,294 94,588

a. Provision for Income Tax 91,000 18,200

b. Deferred TaxAssets/Liabilities/ MATCredit 2,901 (2,901)

c. Fringe Benefit Tax - -

v) Profit /(Loss) after tax 2,09,393 79,289

vi) Profit/(Loss) brought forward from previous year (s) 14,287 (65,001)

vii) Balance carried to the Balance Sheet 2,23,681 14,287

2. DIVIDEND:

Your directors do not recommend any dividend for the financial year 2013-14.

3. OPERATIONS:

During the year under review, your company has recorded total income of Rs. 15,14,993/- showing a decrease as compared to last year, despite that company recorded a profit of Rs.2,09,393/-. The detailed information on all business activities of the company is provided in the Management Discussion and Analysis Report.

4. AUDITORS AND THEIR REPORT

M/s J. B. Dudhela &Co., Chartered Accountants, the auditors of the company are retiring at the conclusion of the ensuing Annual General Meeting of the company and being eligible offer themselves for reappointment as Auditors. The Company has received certificate to the effect that their appointment, if made, would be within the limit prescribed under Section 141 (3) of the Companies Act, 2013.

The Auditor''s Report is self-explanatory and needs no clarification.

5. PARTICULARS OF EMPLOYEES

During the year under review, the Company did not have any employee attracting provisions of Section 134 (3) (e) of the Companies Act, 2013.

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

The Company did not have any activity related to conservation of energy, technology absorption. There were neither a foreign exchange earnings nor outgo during the year under review within the provisions of section 134(3)(m) of Companies act, 2013.

7. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report is prepared in accordance with the requirements of Clause 49 of the Listing Agreement entered into with the Stock Exchanges, and forms part of this Annual Report.

8. CORPORATE GOVERNANCE REPORT:

Corporate Governance Report along with the Auditor''s Certificate confirming Compliance with the conditions of Corporate Governance forms part of this report.

9. INVESTOR RELATIONS:

Your company continues to provide prompt investor service through quick resolution of investor grievances. Your company has designated an exclusive email id viz. secretarial@intellivatecapital.com, to enable the investors to post their grievances and the company to monitor its redressal. The company is also registered at the SCORES website of SEBI, where we take regular updates on any grievance posted, which so far has been NIL. The company has paid Annual Listing fees to the Stock Exchange for the Financial year 2013-14.

The members are requested to refer to General Shareholder''s Information given in Corporate Governance Report appended to this Report.

10. FIXED DEPOSITS:

Your Company has not accepted any public deposits within the meaning of the provisions of Section 73(1) of the Act read with the Companies Act (Acceptance of Deposits) Rules, 1975. Therefore, no amount on account of principal or interest on Public Deposits was outstanding as on the Date ofthe Balance Sheet.

11. DIRECTORS:

The Board has two Independent Directors and two Executive Directors. In accordance with the provisions of the Act and the Articles of Association ofthe Company, Mrs. Leena Vipul Modi retire by rotation at the forthcoming Annual General Meeting and being eligible off herself for re-appointment. The Board recommends re-appointment of Mrs. Leena Vipul Modi.

12. COMPLIAN CECERTIFICATE

The Compliance Certificate under section 383A of the Act, and Rule 3 of the Companies (Compliance Certificate) Rules, 2001 is issued by SRM &Co., Practicing Company Secretary and forms part of this Report.

13. INDUSTRIAL RELATIONS

The relations between the employees and the Management have remained cordial.

14. DIRECTORS'' RESPONSIBILITY STATEMENT:

As required under the provisions of section 134 (5), of the Companies Act, 2013, your Directors state that:

1. In preparation of Annual Accounts the applicable accounting standards have been followed along with proper explanation relating to material departure there from.

2. They had selected such accounting policies and applied them constantly and made judgments and estimates that are reasonable and prudent so as to give a true and fair view ofthe state of affairs ofthe company at the end ofthe financial year and that of profit of the company for that period.

3. They had taken proper and sufficient care of maintenance of adequate accounting records so as to safeguard the company''s assets and to detect fraud and irregularities.

4. They have prepared the annual accounts of the company on a going concern basis.

15. JOINT VENTURE AND SUBSIDIARIES

During the year under review, there was no joint venture or subsidiaries being formed and hence no reporting under the provisions of Section 129(3) ofthe Companies Act, 2013, (the Accounts and other information ofthe subsidiaries) is not required.

16. ACKNOWLEDGEMENT:

The Board wishes to express their sincere gratitude for the continued co-operation, encouragement and support extended by the shareholders, financial institutions and bankers of the company. The Board also wishes to express their deep appreciation of the dedicated services ofthe officers, staff and workers of the company.

For & on behalf of the Board of Directors Intellivate Capital Advisors Limited

Sd/- Place : Mumbai Vipul Modi Date : 13th August 2014 Director

 
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