Home  »  Company  »  Jigyasa Infra  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Jigyasa Infrastructure Ltd.

Mar 31, 2014

Dear Members,

The Directors have great pleasure in presenting the Annual Report together with the Audited Accounts of the Company for the year ended at 31" March, 2014.

financial resjlts

The summarused performance of the Company for the years 2013-14 and 2012-13 is given betow:

(Rupees to Lacs)

Particulars 31st March2014 31st March2013

Total Income 201.01 87.05

Total Expenditure 195.14 85.46

Profit before Tax 5.87 l.59

Less: Tan Expense 1.86 0.49

(Profit / (Loss) After Tax 4.01 1.10

DIRECTORS

Mr. Daya Kiahan and Ms. Geeta Devi who were co-opted as Additional Directors on the board of the company with effect from 24st January, £014 and who ceases to hold the office at this Annual General Meeting and in respect of whom a notice under section 160 of the Companies Act, 2013 has been received froift a member along with requisite deposit proposing their candidatures for the office of a Director on the Board of the Company. Therefore Board recommend their appointment for approval.

Pursuant to Section 149 of the Companies Act, 2013{new act) read with the Rules made thereundor, the Independent Directors shall hold office foi a period ef upto 5 consecutive years and shall not be liable to retire by rotation. They may be appointed for a maximum of two consecutive terms of upto 5 years each. In terms of Presently, Mr. Daya Kishan and Ms, Ceeta Devi are the Independent Directors of the Company. As per their existing terms or appointment, ail of them are liable to retire by rotation. However, under the new act and the Listing Agreement, they may be appointed afresh with a fixed period of upto 5 years.

The Board considered the independence of each of tho above mentioned Directors in terms of Section 149 and Schedule IV to the Companies Act, 2013 and the Listing Agreement and was of the view lhat the proposed directors fulfill the criteria of independence as mentioned in the above provisions and can be appointed in the above provisions and can be appointed as Independent Directors. All the proposed Directors possess requisite qualifications, appropriate skills, experience and knowledge in one or more fields of finance, law management, marketing, administration, technical operations and other disciplines related to Companys business, positive attributes, already being on the Board of the Company and benefits that the Company will derive with lhair appointment, the Board has recommended their appointment aa Independent Directors of tho Company to hold office for a term of five consecutive years commencing from the date of Annual General Meeting of the Company.

Also, Mr. Sanay Kumar Singh was appointed as an additional director by tho Board of Directors in its meeting held on 24th January, 2014 and the Company has receivoci notices under Section 160 of Ihe Companies Act, 2013 proposing Jus candidature of for thu office of the Director, Therefore Board recommend their appointment for approval.

Under review, Mr. Chandra Prakash Bhardwaj, Mr, jai Kiahan, Mr. hove Kumax and Mr. Coray Gupta has resigned from the Board.

DIVIEND

IN Consideration of future prospects of the Company, Your Board of Directors has decided to plough back the profits tntc the business operations of the Company.

PUBLIC DEPOSITE

The Company has not accepted any deposits during the year under review.

AUDITORS

The Auditors M/t. Aahok R Gupta &Co, Chartered Accountants, has shown their unwillingness to continue as Stautory Auditors of the Company and M/s Honey Marwah & Associates. Chartered Accountant, being eligible otter himself for appointment lias given their consent to be appointed as Statutory auditors in place Of M/S Ashot R Gupta & Co, Chartered Accountants.

The Company has received undertaking from M/s Honoy Marwah & Associates to the effect that his appointment, if made, would be in accordance wuh the Act arid that they are not disqualified for such re-appointment.

A Board of directors of (he company has recommended their appointment in the ensuing Annual General Meeting,

ISSUE Of EQUITY SHARES

During the year under review, the Company has issued and allotted 3841500 equity shares of As. 10/- each on 05.02,2014 and accordingly, the Equity Paid up Share capital stand increased to Rs. 123,365,OOO(Rupees Twelve Croros TTdrty Three Lacs Sixty Five Thousands Only/- consisting 12,336,500 equity share of Rs. 10/- each.

AUDITORS REPORT

The observation made in tho Auditors' Report read together with relevant notes thereon ara self explanatory and hence, do not call for any further comments under Section 217 of the Companies Act, 1956.

INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all levels.

CONVERSION QFTHE COMPANY FROM "PRIVATE 1JM1TED" TQ" PUBLIC LIMITED"

During the year 2013-2014, Out Company was converted m to a Public Limited Company and Consequently the name was changed to " Jigyasa Infrastructure Private Limited to " Jigyasa Infrastructure Limited'r vide fresh certificate of incorporation dated 23rd January, 2014, issued by the Registrar of Companies, National Capital Territory of Delhi & Haryana.

During the year the company changed tta registered office from 31/20 Brijwasan, New Delhi- 110037 to 10B-109, Vardhman Appenzerl Plaza, Mayur Vihar- HI. Delhi- 110096 w.e.f 18,01-2014,

LISTING OF SHARES QF THE COMPANY

During the year under review. Your Company has applied for listing of its equity shares on the ITP platform of BSE limited.

SUBSIDARY COMPANY

The Company does not have any subsidiary.

CONSOLIDATED riNANCIAL BSTATEMENTS

Since there is no subsidiary of the Company at present, hence no consolidated financial statements have been prepared.

DIRECTORS RESPONSIBILITY STATEIWENT

Pursuant to the provisions of Section 217(2 AA) of the Companies Act, 1956 the Directors confirm:

a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures,

b) The Directors have selected such accounting policies and applied them consistenCy and made judgments and estimates that were reasonable and prudent so AS to give a true and fair view of the state of affairs of the Company as at 31st March, 2014 and of the Profit or Loss of the company for the year under the review.

c) That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions or this Act. in safeguarding the assets of the Company and for preventing and detecting fraud and other irregularmes-

d) The Directors have prepared the annual accounts on a going concern basis.

CONSERVATION Or ENERGY TECHNQLQGY ABSORPTION. FOREIGN EXCHANGE EARNING andqptqq

The provisions of Section 217(1) (e) pf the Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of particulars in the Report of Board of Directors) Rules, 1988 are not applicable to the Company. Therefore, the information relating to conservation of energy or technology absorption etc. is not givon, There has been no foreign exchange earnings and outgo during the year under Report.

EABLTIQlBUflRS OF EMPLOYEES

The provisions of section 217(2A) of the Companies Act, 1956 aro not applicable as no Employee was in receipt of remuneration to the extent (aid down therein.

PERSONNEL

Tire Management-Employees relations remained very cordial throughout the year. Your Directors wish to place on record their appreciation of sincere and devoted services rendered by all the workers and staff at all fevels.

ACKNOWLEDGEMENTS

Your Company and its Directors wish to extend their smearest thanks to the Members of the Company, Bankers, State Government, Local Bodies, Customers, Suppliers, Executives, Staff and workers at all levels for thoir continuous co-operation and assistance.

For and on behalf of board of Dated; 03.09.2014 Ligyasa Infrastruture Limitd Place New Delhi

Umcsh Vaindil Sanjay KutnatSingh Director director DIN No: 06789400 DIN No: 00793460




Mar 31, 2013

Dear Members,

The Directors'' have pleasure in presenting the Annual Report together with Audited Accounts for the year ended on 31st March 2013 and Statutory Auditors report thereon.

Financial Results:

The working results of the company are briefly given below:-

(Amt.in Rs.)

Particulars Current Period

Income 8,704,855.00

Expenses 8,545,933.89

Profit/(Loss) before depreciation 302,650.83

Less :Depreciation 143729.72

Profit/(Loss) after depreciation 1,58,921.11

_Less : Income Tax/Deferred tax 49107

Add : Provision Added back for Deferred Tax NIL

Profit . (Loss) after tax 109,814.11

Profit/(Loss)__B/Fd. From previous year NIL

Board of Director:-

The Composition of the Board of Directors was duly held. There was no change in the directorship in the company during the financial year.

Auditors

M/s. Ashok Gupta & Co., appointed as Auditors of the company, at the conclusion of the ensuing Annual General Meeting

Director''s Responsibility Statement: -

Pursuant to the requirement u/s 217 (2AA) of the Companies Act, 1956, with respect to Director''s Responsibility Statement, it is hereby confirmed

1. That in the preparation of the accounts for the year ended on March 31, 2013, the applicable Accounting Standards have been followed along with proper explanation relating to material departure;

2. That the directors 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 at the end of the financial year and of the profit or loss of the company for that year;

3. That the directors have taken proper and sufficient care for the maintenance of Adequate accounting records in accordance with the provision of this act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

4. That the directors had prepared the annual accounts on a going concern basis.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and outgo:-

Pursuant to the requirement u/s 217 (1) (e) of the Companies Act, 1956, it is hereby provided that:

1. CONSERVATION OF ENERGY: Company is engaged in Real State & Infrastructure Services; hence this clause is not applicable.

2. TECHNOLOGY ABSORPTION: This clause is not applicable in the case of the company.

3. FOREIGN EXCHANGE EARNINGS AND OUTGO: No transaction involving foreign exchange was undertaken by the company during the relevant year.

Particulars of employees: -

There is no employee drawing salary as prescribed under section 217(2A) of the Companies Act, 1956 read with the Companies (particulars of employees) Rules, 1975.

Acknowledgements: -

The Directors wish to place on record their appreciation for the dedicated and sincere Services rendered by the officers of the company.

Place: New Delhi For and on behalf of Board of Dated: 30 August, 201 3 JIGYASA INFRASTRUCTURE PVT. LTD.

Director


Mar 31, 2012

Dear Members,

The Board of Directors are pleasure the Annual Report of the Company for the financial year ended 31st March 2012.

1. FINANCIAL HIGHLIGHTS :

Particulars Current Yr. Previous Yr. 31.03.2012 (Rs.) 31.03.2011 (Rs.)

Total Income/Loss 6, 1 15,9 19 3,950,841

Less: Total Expenses 5,974,804 4,004,878

Profit Before Tax 141, 115 (54,037)

Profit/Loss after Tax 97,511 (55,335)

2. FINANCIAL PERFORMANCE

During the year under review, Your Company has recorded a total income of Rs. 6,115,919 against Rs. 3,950,841 in the previous year. Net Profit before taxation for the financial year ended on 31st March, 2012 increased to Rs. 97,511 against a loss of Rs. 55,335 in the previous year.

3. DEPOSITS:

During the year under review, Your Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975 as amended upto date.

5. AUDITORS

M/s Ravi Bhushan & Company Chartered Accountants, retire at the ensuing annual general meeting and being eligible have given their consent to act as auditors of the company. Members are requested to consider their re-appointment as the auditors of the company.

5. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE:

Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 being not relevant/significant, are not given. There was no foreign exchange earning or outgo during the year under review.

6. DIRECTORS RESPONSIBILITY STATEMENTS

Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby confirmed:-

(i) That in the preparation of the accounts for the financial year ended 31st March 2012 the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the company for the year under review.

(iii) That the 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 the Directors have prepared the accounts for the financial year ended 31st March, 2012 on a going concern basis.

ACKNOWLEDGEMENT

The board wishes to express and place on records its gratitude for the faith reposed in and cooperation extended to the company by the shareholders of the company. Your directors wish to place on record their deep sense of appreciation for the devoted and sincere services of the executives, staff and workers of the company for its success.

By order of the Board of Directors JIGYASA INFRASTRUCTURE PRIVATE LIMITED Place: New Delhi Sd/- Sd/- Date: 03/09/2012 Chandra Prakash Bhardwaj Jai Kishan Director Director Din: 01735340 Din: 01943566


Mar 31, 2011

Dear Members,

The Board of Directors are pleasure the Annual Report of the Company for the financial year ended 31st March 2011.

1. FINANCIAL HIGHLIGHTS :

Particulars Current Yr. Previous Yr. 31.03.2011 (Rs.) 31.03.2010 (Rs.)

Total Income/Loss 3,950,841 3,713,278

-Less: Total Expenses 4,004,878 3,863,560

Profit Before Tax (54,037) (150,282)

Profit/Loss after Tax (55,335) (160,436)

2. DEPOSITS :

During the year under review, Your Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975 as amended upto date.

3. FINANCIAL PERFORMANCE

During the year under review, Your Company has recorded a total income of Rs. 3,950,841 against Rs. 3,713,278 in the previous year.

4. AUDITORS

M/s Ravi Bhuasan & Company, Chartered Accountants, retire at the ensuing annual general meeting and being eligible have given their consent to act as auditors of the company. Members are requested to consider their re-appointment as the auditors of the company.

5. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE:

Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 being not relevant/significant, are not given. There was no foreign exchange earnings or outgo during the year under review.

6. DIRECTORS RESPONSIBILITY STATEMENTS

Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby confirmed:-

(i) That in the preparation of the accounts for the financial year ended 31st March 2011 the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 of the company for the year under review.

(iii) That the 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 the Directors have prepared the accounts for the financial year ended 31st March, 2011 on a going concern basis.

ACKNOWLEDGEMENT

The board wishes to express and place on records its gratitude for the faith reposed in and cooperation extended to the company by the shareholders of the company. Your directors wish to place on record their deep sense of appreciation for the devoted and sincere services of the executives, staff and workers of the company for its success.

By order of the Board of Directors JIGYASA INFRASTRUCTURE PRIVATE LIMITED Place: New Delhi Sd/- Sd/- Date: 01/09/2011 Chandra Prakash Bhardwaj Jai Kishan Director Director Din: 01735340 Din: 01943566

 
Subscribe now to get personal finance updates in your inbox!