Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 23rd Annual Report of
the Company for the financial year ended on 31st March, 2014.
FINANCIAL RESULTS:
(Rs. Lacs)
Current Year Previous Year
Gross Income 11.84 6.22
Gross Profit/(Loss) (2.32) (6.01)
Depreciation & Impairment 0.00 0.14
Profit/(Loss) before tax (2.32) (6.15)
Profit/(Loss) after tax (2.32) (6.15)
Brought forward from the previous year (370.79) (364.64)
Profit available for appropriation (372.15) (370.79)
REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS
During the year, the Company has incurred/suffered a loss of Rs. 0.39
lacs before tax as against the loss of Rs. 6.01 lacs in the previous
year. Efforts are also being made to improve the performance by
exploring new avenues of business which are likely to arise with the
passage of time.
DIVIDEND
Directors recommended no dividend.
FIXED DEPOSITS
During the year, the Company has neither accepted nor invited any
deposits and there are no deposits which are either overdue or
unclaimed as on March 31st, 2014.
DIRECTOR
Mr. Om Parkash Tiwari, Director retires at the ensuing Annual General
Meeting and board recommends his appoint/ re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT 217(2AA)
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956, your Directors confirm having:
(i) followed in preparation of the Annual Accounts, the applicable
accounting standards with proper explanation relating to material
departures, where applicable ;
(ii) selected such accounting policies and applied them consistently
and made judgement and estimates that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company as
on March 31,2014 and of the profit or loss of the Company for the year
ended on that period;
(iii) taken proper and sufficient care for the maintenance of adequate
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;
(iv) prepared the annual Accounts for the financial year ended March
31,2014 on a going concern basis.
The Audit Committee of your company meets periodically to review the
performance, functions and scope of statutory auditor''s functions etc.
AUDITORS & AUDITORS'' REPORT
M/s. P.P. Thukral & Co.,Chartered Accountants (Registration no.
000632N) as Statutory Auditors of the Company, retire at the conclusion
of the ensuing Annual General Meeting. The Company has received
confirmation from M/s. P.P. Thukral & Co., Chartered Accountants, to
the effect that their appointment, if made, will be within the limits
as prescribed in Section 139 of the Companies act, 2013. Members
attention is invited on Notes on Accounts forming part of Report &
Balance Sheet. The Notes are self explanatory.
PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARN- INGS AND OUTGOING
Information to be given pursuant to section 217(1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars) rules,1988
are not applicable since there is no such activity being followed by
the Company.
Foreign Exchange Earnings Rs. Nil
Foreign Exchange Outgo Rs. Nil
PARTICULARS OF EMPLOYEES
This information as required by section 217(2A) of the Companies Act,
1956, read with Companies (Particulars of Employees) Rules, 1975, as
amended, be taken as nil and complied with.
CORPORATE GOVERNANCE
A separate report on Corporate Governance forms a part of Annual Report
along with the Auditors Certificate on its compliance of the conditions
of Corporate Governance as also a Management Discussion & Analysis
Report Pursuant to Clause 49 of the Listing Agreement are annexed
hereto.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the Banks, Government
authorities and our Valued customers, and Shareholders during the year
under review.
for and on behalf of the
Board of Directors
Place : New Delhi (K.P.S. KOCHHAR)
Date : 24.05.2014 CMD
Mar 31, 2012
The Directors present the 21st Annual Report of the Company together
with Audited Accounts for the year ended on 31st March, 2012.
FINANCIAL RESULTS:
(Rs. Lacs)
Current
Year Previous
Year
Gross Income (13.86) 9.84
Gross Profit/(Loss) (21.59) (1.54)
Depreciation & Impairment 0.26 0.26
Profit/(Loss) before tax (35.71) (1.80)
Profit/(Loss) after tax (35.71) (1.80)
Brought forward from
the previous year (328.93) (327.37)
Profit available for
appropriation (364.64) (328.93)
REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS
During the year, the Company has incurred/ suffered a loss of Rs. 35.71
lacs before tax as against the loss of Rs. 1.80 lacs in the previous
year. Efforts are also being made to improve the performance by
exploring new avenues of business which are likely to arise with the
passage of time.
DIVIDEND
Directors recommended no dividend.
FIXED DEPOSITS
During the year, the Company has neither accepted nor invited any
deposits and there are no deposits which are either overdue or
unclaimed as on March 31st, 2012.
DIRECTOR
Mrs. Davinder Bir Kochhar, Director retires at the ensuing Annual
General Meeting and board recommends her appoint/re-ap-pointment.
Mr. Gurmeet Singh, Director retires at the ensuing Annual General
Meeting and board recommends his appoint/re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT 217(2AA)
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956, Your Directors state:
(i) That in the preparation of the annual accounts year ended March 31,
2012, the applicable accounting standards have been followed;
(ii) That Your Directors have selected such accounting policies and
applied them consistently and made judgement and estimates that are
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company as on March 31, 2012 and of the profit or
loss of the Company for the year ended on that date;
(iii) That your Directors have taken proper and sufficient care for the
maintenance of adequate 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;
(iv) That your Directors have prepared the annual accounts for the
financial year ended March 31, 2012 on a going concern basis.
The Audit Committee of your company meets periodically to review the
performance, functions and scope of statutory auditor's functions etc
AUDITORS & AUDITORS' REPORT
M/s. P.P. Thukral & Co.,Chartered Accountants, Auditors of the Company,
retire at the conclusion of the ensuing Annual General Meeting. The
Company has received confirmation from M/s. P.P. Thukral & Co.,
Chartered Accountants, to the
effect that their appointment, if made, will be within the limits as
prescribed in Section 224 (1B) of the Companies act, 1956. Members
attention is invited on Notes on Accounts forming part of Report &
Balance Sheet. The Notes are self explanatory.
PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGOING
Information to be given pursuant to section 217(1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars) rules,1988
are not applicable since there is no such activity being followed by
the Company.
Foreign Exchange Earnings Rs. Nil Foreign Exchange Outgo Rs. Nil
PERSONNEL
This information as required by section 217(2A) of the Companies Act,
1956, read with Companies
(Particulars of Employees) Rules, 1975, as amended, be taken as nil and
complied with.
CORPORATE GOVERNANCE
A separate report on Corporate Governance forms a part of Annual Report
along with the Auditors Certificate on its compliance of the conditions
of Corporate Governance as also a Management Discussion & Analysis
Report Pursuant to Clause 49 of the Listing Agreement are annexed
hereto.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the Bankers, our Valued
customers, and Shareholders during the year under review.
for and on behalf of the Board of Directors
Place : New Delhi (J. S. KOCHHAR)
Date : 30.05.2012 Chairman
Mar 31, 2011
Dear Members,
The Directors present the 20th Annual Report of the Company together
with Audited Accounts for the year ended on 31st March, 2011.
FINANCIAL RESULTS:
(Rs. Lacs)
Current Year Previous Year
Gross Income 9.84 14.61
Gross Profit/(Loss) (1.54) 4.61
Depreciation & Impairment 0.26 0.26
Profit/(Loss) before tax (1.80) 4.35
Profit/(Loss) after tax (1.80) 3.75
Brought forward from
the previous year (327.37) (331.12)
Profit available for
appropriation (328.93) (327.37)
REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS
During the year, the Company has incurred/suffered a loss of Rs. 1.80
lacs before tax as against the profit of Rs. 4.35 lacs in the previous
year. Efforts are also being made to improve the performance by
exploring new avenues of business which are likely to arise with the
passage of time.
DIVIDEND
Directors recommended no dividend.
FIXED DEPOSITS
During the year, the Company has neither accepted nor invited any
deposits and there are no deposits which are either overdue or
unclaimed as on March 31st, 2011.
DIRECTOR
Mr. Jagmohan Singh Kochhar, Director retires at the ensuing Annual
General Meeting and board recommends his appoint/re-appointment.
Mr. Om Parkash Tiwari, Director retires at the ensuing Annual General
Meeting and board recommends his appoint/re-appointment.
AUDITORS & AUDITORS' REPORT
M/s. P.P. Thukral & Co.,Chartered Accountants, Auditors of the Company,
retire at the conclusion of the ensuing Annual General Meeting. The
Company has received confirmation from M/s. P.P. Thukral & Co.,
Chartered Accountants, to the effect that their appointment, if made,
will be within the limits as prescribed in Section 224 of the ,
Companies act, 1956. Members attention is invited on Notes on Accounts
forming part of Report & Balance Sheet. The Notes are self explanatory.
PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGOING
Information to be given pursuant to section 217(1)(e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars) rules,
1988 are not applicable since there is no such activity being followed
by the Company.
Foreign Exchange Earnings Rs. Nil
Foreign Exchange Outgo Rs. Nil
PERSONNEL
This information as required by section 217(2A) of the Companies Act,
1956, read with Companies (Particulars of Employees) Rules, 1975, as
amended, be taken as nil and complied with.
CORPORATE GOVERNANCE
A separate report on Corporate Governance forms a part of Annual
'Report along with the Auditors Certificate on its compliance of the
conditions of Corporate Governance as also a Management Discussion &
Analysis Report Pursuant to Clause 49 of the Listing Agreement are
annexed hereto.
DIRECTORS RESPONSIBILITY STATEMENT 217(2AA)
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956, Your Directors state:
(i) That in the preparation of the annual accounts, the applicable
accounting standards have been followed;
(ii) That Your Directors have selected such accounting policies and
applied them consistently and made judgement 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;
(iii) That your Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of your Company and
for preventing and detecting fraud and other irregularities;
(iv) That your Directors have prepared the annual accounts on a going
concern basis.
The Audit Committee of your company meets periodically to review the
performance, functions and scope of statutory auditor's functions etc.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the Bankers,-our Valued
customers, and Shareholders during the year under review.
for and on behalf of the
Board of Directors
(J. S. KOCHHAR)
Chairman
Place : New Delhi
Date : 28.06.2011
Mar 31, 2010
The Directors present the 19th Annual Report of the Company together
with Audited Accounts for the year ended on 31st March, 2010.
FINANCIAL RESULTS:
(Rs. Lacs)
Current Year Previous Year
Gross Income 14.61 (37.95)
Gross Profit/(Loss) 4.61 (45.39)
Depreciation & Impairment 0.26 0.26
Profit/(Loss) before tax 4.35 (45.65)
Profit/(Loss) after tax 3.75 (45.71)
Brought forward from
the previous year (331.12) (286.37)
Profit available for
appropriation (331.07) (331.07)
REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS
During the year, the Company earned profits before tax to the tune of
Rs. 4.35 lacs as against the loss of Rs. 45.65 lacs in the previous
year. The Company earned this income through commodity tradings and
share market operations.
Efforts are also being made to improve the performance by exploring new
avenues of business which are likely to arise with the passage of time.
DIVIDEND
Directors recommended no dividend.
FIXED DEPOSITS
During the year, the Company has neither accepted nor invited any
deposits and there are no deposits which are either overdue or
unclaimed as on March 31st, 2010.
DIRECTOR
Mrs. Davinder Bir Kochhar, Director retires at the ensuing Annual
General Meeting and board recommends his appoint/re-appointment.
Mr. Gurpreet Singh, Director retires at the ensuing Annual General
Meeting and board recommends his appoint/re-appointment.
AUDITORS & AUDITORS REPORT
M/s. P.P. Thukral & Co.,Chartered Accountants, Auditors of the Company,
retire at the conclusion of the ensuing Annual General Meeting. The
Company has received confirmation from M/s. P.P. Thukral & Co.,
Chartered Accountants, to the effect that their appointment, if made,
will be within the limits as prescribed in Section 224 of the Companies
act, 1956. Members attention is invited on Notes on Accounts forming
part of Report & Balance Sheet. The Notes are self explanatory.
PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGOING
Information to be given pursuant to section 217(1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars) rules,
1988 are not applicable since there is no such activity being followed
by the Company.
Foreign Exchange Earnings Rs. Nil
Foreign Exchange Outgo Rs. Nil
PERSONNEL
This information as required by section 217(2A) of the Companies Act,
1956, read with Companies (Particulars of Employees) Rules, 1975, as
amended, be taken as nil and complied with.
CORPORATE GOVERNANCE
A separate report on Corporate Governance forms a part of Annual Report
alongwith the Auditors Certificate on its compliance of the conditions
of Corporate Governance as also a Management Discussion & Analysis
Report Pursuant to Clause 49 of the Listing Agreement are annexed
hereto.
DIRECTORS RESPONSIBILITY STATEMENT 217(2AA)
In accordance with the provisions of Section 217 (2AA) of the Companies
Act, 1956, Your Directors state:
(i) That in the preparation of the annual accounts, the applicable
accounting standards have been followed;
(ii) That Your Directors have selected such accounting policies and
applied them consistently and made judgement 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;
(iii) That your Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of your Company and
for preventing and detecting fraud and other irregularities;
(iv) That your Directors have prepared the annual accounts on a going
concern basis.
The Audit Committee of your company meets periodically to review the
performance, functions and scope of statutory auditors functions etc.
ACKNOWLEDGEMENT
Your Directors would like to express their grateful appreciation for
the assistance and co-operation received from the Bankers, our Valued
customers, and Shareholders during the year under review.
for and on behalf of the Board of Directors
Place : New Delhi (J. S. KOCHHAR)
Date : 06.08.2010 Chairman
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