Mar 31, 2012
The Directors present their 18th Annual Report on the business
operations of the Company alongwith the Statement of Audited financial
statements for the year ended 31st March 2012.
FINANCIAL RESULTS:
Particulars (Rs.in lacs)
Year ended Year ended
31st March 2012 31st March 2011
Total Income 9.11 17.87
Profit/(Loss) before
Interest, Depreciation & 2.29 0.58
Taxation
Less: Interest 0.00 0.00
Profit/(Loss) before Depreciation 2.29 0.58
Less: Depreciation 0.00 0.00
Profit/(Loss) before Tax 2,29 0.58
Less: Provision for Tax
(Including earlier year 0.19 1.04
tax)
Net Profit/(Loss) after Tax 2.10 1.62
YEAR UNDER REVIEW:
During the year under review, the Company continued the same line of
business, registering total income of Rs. 9.11 lacs as against Rs. 17.87
lacs in the previous year. The Company reported net profit of Rs. 2.10
lacs as against net profit of Rs. 1.62 lacs in the previous year.
DIVIDEND:
In view of insignificant profit during the year, your directors, in
order to conserve the resources, have not recommended any dividend for
the year ended 31st March, 2012.
DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Board of
Directors confirms that:
- in the preparation of the annual accounts, the applicable accounting
standards have been followed;
- they have selected such accounting policies and applied them
consistently and made judgments 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 at 31st March, 2012 and of the profit of the Company for
that year;
- they 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 the Company and for preventing and
detecting frauds and other irregularities; and
- they have prepared the attached Statement of Accounts for the year
ended 31st March, 2012 on a going concern basis.
DIRECTORS:
Mr. Prakash Bihani, director of the company, retire by rotation at
ensuing Annual General Meeting and being eligible offers themselves for
re-appointment.
Mr. Prakash Bihani has in depth knowledge of stock market as well as
yarn market. He has more than 30 years experience in business and
administration. He is not a director in an/ other company or holds any
shares in the company. He is member of the committees constituted by
the Board for effective corporate governance, the details thereof are
mentioned in Report on Corporate Governance forming part of this Annual
Report.
CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS:
A report on the Corporate Governance and Management Discussion and
Analysis is attached as a part of the Annual Report. The Auditor's
Certificate regarding compliance of the conditions of Corporate
Governance is also annexed.
AUDITORS:
M/s. R. S. Agrawal & Associates, Chartered Accountants, the auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re-appointment. The company has received a certificate
from the auditors to the effect that their appointment, if made, would
be within the prescribed limits under Section 224 (1B) of the Companies
Act, 1956. The members are requested to appoint the auditors and
authorize the Board to fix their remuneration.
AUDITORS' REPORT:
Pursuant to section 217(3) of the Companies Act, 1956, information and
explanations of the Board of Directors for observations made in
Auditors' Report are under:
The Company is in the process of complying with the provisions of
section 372A of the Companies Act, 1956.
FIXED DEPOSITS:
The Company has not accepted any deposit from public during the year
under review.
PARTICULARS OF EMPLOYEES:
During the year under review, none of the employees of the company was
in receipt of remuneration aggregating Rs. 24,00,000/- or more per
annum, if employed throughout the year, or Rs. 2,00,000/- or more per
month, in case employed for part of the year. Hence, there are no
particulars to be annexed to this report as required under Section 217
(2A) of the Companies Act, 1956 and the rules made there under.
CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNINGS AND OUTGO:
(A) Conservation of Energy Research & Development and Technology
Absorption:
Considering the Company's existing business activities, your directors
have nothing to state in connection with Conservation of Energy
Research & Development and Technology Absorption.
(B) Foreign Exchange Earnings & Outgo:
During the year under review, no foreign exchange has been earned and
/or expended by the company.
ACKNOWLEDGEMENTS:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the shareholders for the confidence reposed in the
Company's management. The directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on Behalf of the Board
JAYAVANT PRODUCTS LIMITED
Dayen J. Mehta
Director
jitendra Mehta
Director
Place: Mumbai
Date : 30th May 2012
Mar 31, 2010
The Directors present their 16th Annual Report on the business
operations of the Company alongwith the Statement of Audited financial
statements for the year ended 31st March 2010.
FINANCIAL RESULTS:
Particulars (Rupees in lacs)
Year ended Year ended
31st March 2010 31st March 2009
Total Income 13.10 0.42
Profit/(Loss) before Interest,
Depreciation 6.95 (5.68)
& Taxation
Less: Interest 0.00 0.00
Profit/
Less: Depreciation 0.00 0.00
Profit/
Less: Provision for Tax
(Including earlier 1.48 1.18
year tax):
Net Profit/(Loss) after Tax 5.47 (6.86)
YEAR UNDER REVIEW:
During the year under review, the company continued the same line of
business, registering total income of Rs. 13.10 as against 0.42 in the
previous year, The Company reported net profit of Rs. 5.47 lacs as
against the net loss of Rs. 6.86 lacs in the previous year.
DIVIDEND:
In view of insignificant profit during the year, your directors, in
order to conserve the resources, have not recommended any dividend for
the year ended 31st March, 2010.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217(2AA) of the Companies Act, 1956 the Board of
Directors confirms that:
- in the preparation of the annual accounts, the applicable accounting
standards have been followed;
- they have selected such accounting policies and applied them
consistently and made judgments 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 at 31st March, 2010 and of the profit of the Company for
that year;
- they 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 the Company and for preventing and
detecting frauds and other irregularities; and
- they have prepared the attached Statement of Accounts for the year
ended 31st March, 2010 on a going concern basis.
DIRECTORS:
Mr. Prakash Bihani and Mr. Satyanarayan Bhandari, directors of company,
retire by rotation at ensuing Annual General Meeting and being eligible
offers themselves for re-appointment.
Mr. Prakash Bihani:
Mr. Prakash Bihani has an in-depth knowledge of stock market as well as
yarn market. He has an experience of more than 29 years. He is not a
director in any other company.
Mr. Satyanarayan Bhandari
Mr. Satyanarayan Bhandari has an in-depth knowledge of Retail Marketing
alongwith a good knowledge of stock market. He is not a director in any
other company.
CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS:
A report on the Corporate Governance and Management Discussion and
Analysis is attached as a part of the Annual Report. The Auditors
Certificate regarding compliance of the conditions of Corporate
Governance is also annexed.
AUDITORS:
M/s. R. S. Agrawal & Associates, Chartered Accountants, the auditors of
the Company retire at the ensuing Annual General Meeting and are
eligible for re- appointment. The company has received a certificate
from the auditors to the effect that their appointment, if made, would
be within the prescribed limits under Section 224 (IB) of the Companies
Act, 1956. The members are requested to appoint the auditors and
authorize the Board to fix their remuneration.
AUDITORS REPORT:
Pursuant to section 217(3) of the Companies Act, 1956, information and
explanations of the Board of Directors for observations made in
Auditors Report are under:
a) the Company is in the process of recovering loans and advances given
in contravention of section 295 of the Companies Act, 1956.
b) the Company is in the process of complying with the provisions of
section 372A of the Companies Act, 1956.
FIXED DEPOSITS:
The Company has not accepted any deposit from public during the year
under review.
PARTICULARS OF EMPLOYEES:
During the year under review, none of the employees of the company was
in receipt of remuneration aggregating Rs. 24,00,000/- or more per
annum, if employed throughout the year, or Rs. 2,00,000/- or more per
month, in case employed for part of the year. Hence, there are no
particulars to be annexed to this report as required under Section 217
(2A) of the Companies Act, 1956 and the rules made there under.
CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNINGS AND OUTGO:
(B) Conservation of Energy Research & Development and
Technology Absorption:
Considering the Companys existing business activities, your directors
have nothing to state in connection with Conservation of Energy
Research & Development and Technology Absorption.
During the year under review, no foreign exchange has been earned and
/or expended by the company.
ACKNOWLEDGEMENTS:
The Directors wish to express their gratitude to the bankers, clients
and all the business associates for their continuous support to the
Company and to the shareholders for the confidence reposed in the
Companys management. The directors also convey their appreciation to
the employees at all levels for their enormous personal efforts as well
as collective contribution.
For and on Behalf of the Board
JAYAVANT PRODUCTS LIMITED
Devan J. Mehta
Director
Jitendra Mehta
Director
Place: Mumbai
Date; 31st August 2010