Mar 31, 2015
To,
The Members of
JINDAL CAPITAL LIMITED
The Directors have pleasure in presenting the 21st Board's Report
together with the Audited Statement of Accounts of Jindal Capital
Limited for the year ended 31st March, 2015.
1. FINANCIAL RESULTS:
(Rs. In Lacs)
Particulars 2014-15 2013-14
Current Year Previous Year
Operating Profit before Depreciation 15.47 6.95
Less: Depreciation 5.13 4.01
Profit/(loss) before tax 10.33 2.94
Less: Provision for Tax (3.19) (1.07)
Net Profit/(loss) for the year 7.14 1.87
Prior Period adjustments 0.00 0.00
Surplus available 7.14 1.87
Surplus profit brought down from PY 3.89 2.01
Surplus available 11.03 3.89
Surplus profit carried to B/S 10.95 3.89
2. OPERATIONAL REVIEW:
The performance of the Company during the year under consideration was
satisfactory. The operating profit before finance charges and
depreciation is Rs. 7.14 Lakhs against profit of Rs. 1.87 Lakhs of the
previous year.
3. DIVIDEND:
With the view to conserve the resources of company the directors are
not recommending any dividend.
4. TRANSFER TO RESERVES IN TERMS OF SECTION 134 (3) (J) OF THE OMPANIES
ACT, 2013
For the financial year ended 31st March, 2015, the Company is proposed
to carry an amount of Rs. 7,05,911/- to General Reserve Account.
5. SHARE CAPITAL:
The paid up Equity Share Capital as on March 31, 2015 was
Rs.7,20,81,000/-. During the year under review the company has not
issued any shares or any convertible instruments.
6. ECONOMIC SCENARIO AND OUTLOOK:
NBFCs are emerging as an alternative to mainstream banking. Besides,
they are also emerging as an integral part of Indian Financial System
and have commendable contributions towards Government's agenda of
financial Inclusion. They have been to some extent successful in
filling the gap in offering credit to retail customers in underserved
and unbanked areas.
NBFCs in India have recorded marked growth in recent years. After their
existence, they are useful and successful for the evolution of a
vibrant, competitive and dynamic financial system in Indian money
market. The success factors of their business has been by making the
most of their ability to contain risk, adapt to changes and tap demand
in markets that are likely to be avoided by the bigger players. Thus
the need for uniform practices and level playing field for NBFCs in
India is indispensable.
7. CORPORATE SOCIAL RESPONSIBILITY:
Even though the provisions of Companies Act, 2013 regarding Corporate
Social Responsibility are not attracted to the company yet the Company
has been, over the years, pursuing as part of its corporate philosophy,
an unwritten CSR policy voluntarily which goes much beyond mere
philanthropic gestures and integrates interest, welfare and aspirations
of the community with those of the Company itself in an environment of
partnership for inclusive development.
8. MATERIAL CHANGES AND COMMITMENTS:
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which
this financial statements relate on the date of this report.
9. BUSINESS RISK MANAGEMENT:
Although the company has long been following the principle of risk
minimization as is the norm in every industry, it has now become a
compulsion.
Therefore, in accordance with clause 49 of the listing agreement the
Board members were informed about risk assessment and minimization
procedures after which the Board formally adopted steps for framing,
implementing and monitoring the risk management plan for the company.
The main objective of this policy is to ensure sustainable business
growth with stability and to promote a pro-active approach in
reporting, evaluating and resolving risks associated with the business.
In order to achieve the key objective, the policy establishes a
structured and disciplined approach to Risk Management, in order to
guide decisions on risk related issues.
In today's challenging and competitive environment, strategies for
mitigating inherent risks in accomplishing the growth plans of the
Company are imperative. The common risks inter alia are: Regulations,
competition, Business risk, Technology obsolescence, Investments,
retention of talent and expansion of facilities.
Business risk, inter-alia, further includes financial risk, political
risk, fidelity risk, legal risk.
As a matter of policy, these risks are assessed and steps as
appropriate are taken to mitigate the same
10. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:
The Company's internal control system and procedures are commensurate
with the size of operation and are adequate to ensure safeguarding its
assets and resources against loss, unauthorized use or disposition,
compliance with the statutes and regulatory policies and framework and
all transactions are authorized, recorded and reported correctly. The
Internal Audit department evaluates the functioning and quality of
internal control and provides assurance of periodic reporting. The
Audit Committee reviews the Internal Audit Reports and the adequacy on
regular basis which also acts as a tool for minimizing any possible
risks in the operations of the Company.
11. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Company has no activities relating to conservation of energy,
technologies and foreign earning and out go.
12. VIGIL MECHANISM / WHISTLE BLOWER POLICY:
In order to ensure that the activities of the Company and its employees
are conducted in a fair and transparent manner by adoption of highest
standards of professionalism, honesty, integrity and ethical behaviour
the company has adopted a vigil mechanism policy. This policy is
explained in corporate governance report and also posted on the website
of company.
13. DIRECTORS & COMMITTEES:
At the 20th Annual General Meeting of the company held on 30th
September, 2014 the Company had appointed the existing independent
directors Shri. Vijay Gupta (DIN: 00550656) and Shri. Rajendra Gadodia
(DIN: 00549399) as Independent directors under the Companies Act, 2013
for 5 consecutive years for a term upto the conclusion of the 25th
Annual General Meeting.
In accordance with the provisions of Companies Act, 2013 Smt. Sarita
Aggarwal (DIN: 00524884), Non-Executive Director retires by rotation
and being eligible offers herself for re-appointment.
13.1 BOARD EVALUATION:
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out annual performance
evaluation of its own performance, the directors individually as well
the evaluation of the working of its Audit, Nomination & Remuneration
and Stakeholder committee. The manner in which the evaluation has been
carried out has been explained in Corporate Governance Report.
13.2 REMUNERATION POLICY
The Board has, on the recommendation of the Nomination & Remuneration
committee framed a policy for selection and appointment of Directors,
Senior Management and their remuneration. The Remuneration Policy is
stated in the Corporate Governance Report.
13.3 MEETINGS OF THE BOARD OF DIRECTORS
During the Financial Year 2014-15, the Company held 7 (Seven) of the
Board of Directors as per Section 173 of Companies Act, 2013 which is
summarized below. The provisions of Companies Act, 2013 and listing
agreement were adhered to while considering the time gap between two
meetings.
S.
No. Date of Meeting Board Strength No. of Directors Present
1. 30.05.2014 04 04
2. 31.07.2014 04 04
3. 22.08.2014 04 04
4. 31.10.2014 04 04
5. 31.10.2014 04 04
6. 15.01.2015 04 04
7. 31.01.2015 04 04
13.4 AUDIT COMMITTEE
The company is having an audit committee comprising of the following
directors:
Name Status Category
Mr. Vijay Gupta Chairman Non Executive & Independent Director
Mr. Rajendra Gadodia Member Non Executive & Independent Director
Mrs. Sarita Aggarwal Member Non-Executive Director(Promoter)
13.5 NOMINATION AND REMUNERATION COMMITTEE
The company is having a Nomination and Remuneration Committee
comprising of the following directors:
Name Status Category
Mr. Vijay Gupta Chairman Non Executive & Independent Director
Mr. Rajendra Gadodia Member Non Executive & Independent Director
Mrs. Sarita Aggarwal Member Non-Executive Director(Promoter)
13.6 STAKEHOLDERS RELATIONSHIP COMMITTEE
The company is having a Stakeholders Relationship Committee comprising
of the following directors:
Name Status Category
Mr. Vijay Gupta Chairman Non Executive & Independent Director
Mr. Rajendra Gadodia Member Non Executive & Independent Director
Mrs. Sarita Aggarwal Member Non-Executive Director(Promoter)
14. DIRECTORS' RESPONSIBILITY STATEMENT:
To the best of their knowledge and belief and according to the
information and explanations obtained by them, your Directors make the
following statements in terms of Section 134(3)(c) of the Companies
Act, 2013:
a) that in the preparation of the annual financial statements for the
year ended March 31, 2015, the applicable accounting standards have
been followed along with proper explanation relating to material
departures, if any;
b) that such accounting policies as mentioned in Notes to the Financial
Statements have been selected and applied consistently and judgment and
estimates have been made that are reasonable and prudent so as to give
a true and fair view of the state of affairs of the Company as at March
31, 2015 and of the profit of the Company for the year ended on that
date;
c) that proper and sufficient care has been taken for the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
d) that the annual financial statements have been prepared on a going
concern basis;
e) that proper internal financial controls were in place and that the
financial controls were adequate and were operating effectively.
f) that systems to ensure compliance with the provisions of all
applicable laws were in place and were adequate and operating
effectively.
15. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND
PROTECTION FUND:
The provisions of Section 125(2) of the Companies Act, 2013 do not
apply as there was no dividend declared and paid last year.
16. INFORMATION ABOUT SUBSIDIARY/ JV/ ASSOCIATE COMPANY
Company does not have any Subsidiary, Joint venture or Associate
Company.
17. AUDITORS:
17.1 STATUTORY AUDITORS
M/s Mohan L Jain & Co. (Firm Registration No.005345N), Chartered
Accountants, New Delhi, Statutory Auditors of the Company, hold office
until the conclusion of the ensuing Annual General Meeting and are
eligible for re-appointment.
The Company has received a letter from them to the effect that their
re-appointment, if made, would be within the prescribed limits under
Section 141(3)(g) of the Companies Act, 2013 and that they are not
disqualified for re-appointment within the meaning of Section 141 of
the said Act.
The Auditors' Report on Financial Statements of the Company for the
Financial Year 2014-15 does not contain any qualification.
The observations of Statutory Auditors' and Notes to the Financial
Statements are self- explanatory.
Further the Auditors' Report for the financial year ended, 31st March,
2015 is annexed herewith for your kind perusal and information.
17.2 SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Companies Act, 2013
and The Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the Company has appointed Deepak Sharma &
Associates. (CP No.:6898, FCS: 6309), Company Secretaries to undertake
the secretarial audit of the company. The Secretarial Audit Report is
annexed herewith as 'Annexure: 1'.
17.3 INTERNAL AUDITORS
M/S AKN & CO., Chartered Accountants performs the duties of internal
auditors of the company and their report is reviewed by the audit
committee from time to time.
18. EXTRACT OF ANNUAL RETURN:
The Extract of Annual Return as required under section 92(3) of the
Companies Act, 2013 and rule 12(1) of the Companies (Management and
Administration) Rules, 2014, in Form MGT-9 is annexed herewith for your
kind perusal and information as 'Annexure: 2'.
19. PARTICULARS OF EMPLOYEES:
The information required pursuant to Section 197 read with Rule, 5 of
The Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 in respect of employees of the Company is as follows:
The company has One Executive Director and no sitting fees have been
paid to any director during the year.
The particulars of the employees who are covered by the provisions
contained in Rule 5(2) and rule 5(3) of Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are:
a) Employed throughout the year Nil
b) Employed for part of the year Nil
The remuneration paid to all Key management Personnel was in accordance
with remuneration policy adopted by the company.
20. RELATED PARTY TRANSACTIONS:
All transactions entered into with Related Parties as defined under
Clause 49 of the Listing Agreement during the financial year were in
the ordinary course of business and on an arms length pricing basis and
do not attract the provisions of Section 188 of the Companies Act,
2013. There were no materially significant transactions with related
parties during the financial year which were in conflict with the
interest of the Company. Suitable disclosure as required by the
Accounting Standards (AS18) has been made in the notes to the Financial
Statements.
All Related Party Transactions are placed before the Audit Committee as
also the Board for approval.
The policy on Related Party Transactions as approved by the Board is
uploaded on the Company's website. None of the Directors has any
pecuniary relationships or transactions vis-Ã -vis the Company.
21. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR
COURTS:
There are no significant material orders passed by the Regulators /
Courts which would impact the going concern status of the Company and
its future operations.
22. CORPORATE GOVERNANCE:
As per Clause 49 of the Listing Agreement with the Stock Exchanges, a
separate section on corporate governance practices followed by the
Company, together with a certificate from the Company's Secretarial
Auditor confirming compliance forms an integral part of this Report
which is attached herewith for your kind perusal and information.
23. LOANS, GUARANTEES AND INVESTMENTS:
There were no loans, guarantees or investments made by the Company
under Section 186 of the Companies Act, 2013 during the year under
review and hence the said provision is not applicable.
24. DIRECTORS and KMP:
During the current financial year the following changes have occurred
in the constitution of directors of the company:
S. Name Designation Date of Date of
No. Appointment Cessation
1. Mr. Vijay Gupta Independent Director 30.09.2014 Continue
2. Mr. Rajendra Independent Director 30.09.2014 Continue
Gadodia
3. Mr. Pawan Kumar Managing Director 15.01.2015 Continue
Jindal
4. Mr. Shray Jindal CFO 15.01.2015 Continue
5. Mr. Rahul Company Secretary 15.01.2015 Continue
25. DEPOSITS:
The company has not accepted any deposits during the year.
26. INDEPENDENT DIRECTORS AND THEIR DECLARATION:
Shri. Vijay Gupta (DIN: 00550656) and Shri. Rajendra Gadodia (DIN:
00549399) has been appointed as the independent director of the company
as per Section 149(10) of the Companies Act, 2013 on 30th September,
2014 for a term of 5 consecutive years on the Board of the Company.
The Board of Directors of the Company hereby confirms that all the
Independent directors duly appointed by the Company have given the
declaration and they meet the criteria of independence as provided
under section 149(6) of the Companies Act, 2013.
27. REMUNERATION POLICY
27.1 REMUNERATION TO EXECUTIVE DIRECTORS
The remuneration paid to Executive Directors is recommended by the
Nomination and Remuneration Committee and approved by Board in Board
meeting, subject to the subsequent approval of the shareholders at the
General Meeting and such other authorities, as may be required. The
remuneration is decided after considering various factors such as
qualification, experience, performance, responsibilities shouldered,
industry standards as well as financial position of the Company.
27.2 REMUNERATION TO NON EXECUTIVE DIRECTORS
The Non Executive Directors are not paid remuneration by way of any
Sitting Fees and Commission.
28. RATIO OF REMUNERATION TO EACH DIRECTOR:
Mr. Pawan Kumar Jindal, Managing Director of the Company is being paid
Rs. 25000 p.m. as Managerial Remuneration w.e.f. 15.01.2015.
29. CODE OF CONDUCT FOR BOARD MEMBERS AND SENIOR MANAGEMENT:
The Board of Directors has laid down the code of conduct for all the
Board members and members of the Senior Management of the Company.
Additionally all independent directors of the company shall be bound by
duties of independent directors as set out in the Companies Act, 2013
read with the Schedules and Rules there under.
All the Board members and Senior Management personnel have affirmed
compliance with the code of conduct.
30. POLICY FOR PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL
HARASSMENT AT WORKPLACE
The Company has in place a Policy for Prevention, Prohibition and
Redressal of Sexual Harassment at Work Place. Appropriate reporting
mechanisms are in place for ensuring protection against Sexual
Harassment and the right to work with dignity. During the year under
review, the Company has not received any complaints in this regard.
31. ACKNOWLEDGEMENTS:
The company has been very well supported from all quarters and
therefore your directors wish to place on record their sincere
appreciation for the support and co-operation received from Reserve
Bank of India, Central and State Governments, Bankers and others
associated with the Company.
Your Directors wish to thank the banks, financial institutions,
shareholders and business associates for their continued support and
cooperation.
We look forward to receiving the continued patronage from all quarters
to become a better and stronger company.
32. CAUTIONARY STATEMENT:
The statements contained in the Board's Report and Management
Discussion and Analysis contain certain statements relating to the
future and therefore are forward looking within the meaning of
applicable securities, laws and regulations.
Various factors such as economic conditions, changes in government
regulations, tax regime, other statues, market forces and other
associated and incidental factors may however lead to variation in
actual results.
For and on behalf of the Board of Directors
Sarita Aggarwal Pawan Kumar Jindal
Director Managing Director
DIN: 00524884 DIN: 00524690
Place: New Delhi
Date: May 30, 2015
Mar 31, 2014
The Members of JINDAL CAPITAL LIMITED
The Directors have pleasure in presenting the 20th Annual Report of
your company together with the audited accounts for the twelve months
period ended on 31st March 2014.
FINANCIAL RESULTS
CURRENT YEAR PREVIOUS YEAR
(RS. IN LACS) (RS. IN LACS)
Operating Profit before Depreciation 6.95 16.92
Less: Depreciation 4.01 3.91
Profit/(loss) before tax 2.94 13.01
Less: Provision for Tax (1.07) (3.10)
Net Profit/(loss) for the year 1.87 9.91
Prior Period adjustments 0.00 0.00
Surplus available 1.87 9.91
Surplus profit brought down from PY 2.01 (7.90)
Surplus available 3.89 2.01
Surplus profit carried to B/S 3.89 2.01
OPERATIONS
The performance of the company during the year under consideration been
satisfactory. The operating profit before finance charges and
depreciation is Rs. 15.83 Lakhs against profit of Rs.20.40 Lakhs of
the previous year.
DIVIDEND
No dividend has been recommended.
DEPOSITS
As on March 31, 2014 no deposits from public have been accepted or
renewed by the company.
FUTURE PROSPECTS
Your Directors are optimistic about the future prospects of the company
and hope that improvement in share market will add substantially to the
profitability of the company in the current year. .
UTILISATION OF FUNDS
The funds utilized in making investments in shares and debentures,
inter corporate deposits. Inter corporate deposits have yield good
returns without any single case of default. However, performance of
investment in shares and debentures has been satisfactory.
CORPORATE GOVERNANCE
The Report on Corporate Governance along with certificate of Compliance
from the Auditors is annexed to this report.
AUDITORS AND AUDITOR''S REPORT
M/s Mohan L. Jain & Co. Chartered Accountants, who retire at the
conclusion of this Annual General Meeting and being eligible for
re-appointment, have been appointed as Statutory Auditors of the
Company. They have given certificate to the effect that the
appointment, if made, would be within the provisions prescribed u/s 139
of the Companies Act, 2013. Your Directors recommend their appointment
as Statutory Auditors for another year.
The observations in the Auditor''s report are dealt with in the notes to
the accounts and at appropriate places in the accounts are
self-explanatory and no further information is required.
CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION & FOREIGN EXCHANGE
EARNINGS AND OUTGO
The Company has no activities relating to conservation of energy,
technology and foreign exchange earnings & out go.
PARTICULARS OF EMPLOYEES
The information as per section 217(2A) of the Companies Act, 1956 read
with the Companies (particulars of the Employees) Rules, 1975, is NIL
as none of the employees is in receipt of remuneration in excess of
limits specified in the rules.
DIRECTORS
Mr Pawan Kumar Jindal retires by rotation and being eligible for offers
himself for re-appointment. Your Directors recommend his
re-appointment.
As per notification of Section 149 and other applicable provisions of
the Companies Act, 2013 your Direcotors are seeking appointment of Mr.
Vijay Gupta and Mr. Rajendra Gadodia as Independent Director for five
consecutive years for a term up to 31st March, 2019. Details of the
proposal for appointment of Mr Vijay Gupta and Mr Rajendra Gadodia are
mentioned in the Explanatory Statement under Section 102 of the
Companies Act, 2013 of the Notice of the 20th Annual General Meeting.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to the requirement u/s 217 (2AA) of companies Act 1956, with
respect to Directors responsibility statement, it is hereby confirmed.
(i) That in the preparation of the accounts , the applicable accounting
standards have been followed along with proper explanations relating to
material departures:
(ii) That the Directors have selected such accounting policies and
applied them consistently and made judgment 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 and loss of the company for the year under review;
(iii) That the Directors have been taken proper and sufficient care for
the maintenance of adequate accounting records in accordance with the
provisions of 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 on a "going concern"
basis.
ACKNOWLEDGEMENT
The Board of Directors thanks Reserve Bank of India , all other Banks,
Stock Exchange and shareholders and customers for their continued
support besides employees at all levels..
For & On Behalf of Board of Directors
Place : Delhi
Date : 22/08/2014 Pawan Kumar Jindal
Director
Mar 31, 2010
The Directors have pleasure in presenting the 16 Annual Report of
your company together with the audited accounts for the twelve months
period ended on 31st March 2010.
FINANCIAL RESULTS CURRENT YEAR PREVIOUS
YEAR YEAR
(Rs. In Lacs) (Rs. In Lacs)
Operating Profit before Depreciation 1.52 3.89
Less: Depreciation 1.53 1.03
Profit before tax (0.02) 2.86
Less: Provision for tax 0.15 0.94
Net Profit for the year (0.16) 1.92
Prior Period adjustments 0.36 0.00
Surplus profit brought down
From previous year 18.01 16.09
Surplus available 18.21 18.01
Surplus profit carried to B/S 18.21 18.01
DIVIDEND
No dividend has been recommended.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURER AND DEVELOPMENT
The non banking finance companies (NBFC) continue to be buffered by
competition:
From Banks having large volume of low cost funds. These banks have made
NBFC to operate very difficult.
SEGMENT WISE OR PRODUCT WISE PERFORMANCE
The company is engaged primarily in the business of financing and sale
purchase of shares and accordingly there are no separate reportable
segments as per the Accounting Standard-17.
OUTLOOK
In order to complete in the adverse situation due to competition from
institutions/banks, your company is strategically refocusing its
business.
RISK AND CONCERNS
Dependence on fund based business and shares sale purchase continues to
be difficult for NBFC s unless they are able to reduce their cost of
funds very substantially.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The company has proper and adequate systems for internal control.
Emphasis of internal control prevails across all areas of operations.
The existing audit committee ensures proper compliance with the
provisions of listing agreement with the stock exchanges and relevant
provisions of companies act.
HUMAN RESOURCE DEVELOPMENT
Your company is fully committed to the development of its employees,
training, skill enhancement and motivation of employees is a major
activity in the company.
OPERATIONS
The performance of the company during the year under consideration has
been satisfactory. The operating profit before interest, finance
charges and depreciation is Rs. 1.52 Lakhs against Rs.3.89 Lakhs of the
previous year.
DEPOSITS
As on March 31, 2010 no deposits from public have been accepted or
renewed by the company.
RESEARCH
The company continued its efforts to provide better information and
services to its clients and business associates on various research
reports on market condition and on capital market.
FUTURE PROSPECTS
Your Directors are optimistic about the future prospects of the company
and hope that improvement in share market will add substantially to the
profitability of the company in the current year.
UTILISATION OF FUNDS
The funds utilized in making investments in shares and debentures,
inter corporate deposits. Inter corporate deposits have yield good
returns without any single case of default. However, performance of
investment in shares and debentures has been satisfactory even in
declining trend in capital market.
DIRECTORS
Mr. Pawan Kumar Jindal & Mrs. Sarita Agarwal retires by rotation as per
the provisions of the companies Act, 1956 and being eligible, offers
himself for re appointment.
AUDITORS AND AUDITORS REPORT
M/s Mohan L. Jain & Ce. Chartered Accountants, who retire at the
conclusion of this Annual General Meeting and being eligible for
re-appointment, have been appointed as Statutory Auditors of the
Company. They have given certificate to the effect that the
appointment, if made, within the limits prescribed u/s 224(1B) of the
Companies Act, 1956. Your directors recommend their appointment as
statutory Auditors for another year.
The observations in the Auditors report are dealt with in the notes to
the accounts and at appropriate places in the accounts are
self-explanatory and no further information is required.
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION & FOREIGN
EXCHANGE EARNINGS AND OUTGO
The statement pursuant to section 217(1) (e) of the Companies Act, 1956
read with Companies (Disclosure of particulars in the report of the
Board of Directors) Rules, 1988 is given below:
CONSERVATION OF ENERGY : NOT APPLICABLE, AS NOT A MANUFACTURING
COMPANY.
TECHNOLOGY ABSORPTION : NOT APPLICABLE, INVOLVED IN INVESTMENT IN
SHARES/GIVING INTER CORPORATE DEPOSITS.
FOREIGN EXCHANGE EARNING : NIL
FOREIGN EXCHANGE OUTGO : NIL
PERSONNEL
The Directors express their appreciation for the support given and
contribution made by the employees at all levels to the successful
operations of the company during the year.
Information as per section 2l7(2A) of the Companies Act, 1956 read
with the Companies (particulars of the Employees) Rules, 1975, is NIL
as none of the employees is in receipt of remuneration in excess of
limits specified in the rules.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement u/s 217 (2AA) of companies Act 1956, with
respect to Directors responsibility statement, it is hereby confirmed.
(i) That in the preparation of the accounts for the F.Y, 31st March,
2010, the applicable accounting standards have been followed along with
proper explanations relating to material departures:
(ii) That the Directors have selected, such accounting policies and
applied them consistently and made judgment 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 and loss of the company for the year under review;
(iii) That the Directors have been taken proper and sufficient care for
the maintenance of adequate accounting records in accordance with the
provisions of 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 F.Y. ended
31st March, 2010 on a "going concern" basis.
(v) Information pursuant to listing agreement with the stock exchanges.
The name and address of the stock exchange where the companys share
are listed:
The Bombay Stock exchange,
P J Towers, Dalai Street, Mumbai-01
The listing fee for 2010-11 for Mumbai stock exchange has been paid in
time and there has been neither delisting nor suspension of shares from
trading during the period under review.
APPRECIATION
The Board records its grateful appreciation for the sincere cooperation
and valuable guidance from Banks, Central and State Government
Authorities and Customers in conduct of its business.
For Jirnlal Capital Limited
Place: Delhi
Date : 17/08/2010 Pawan Kumar Jindal Sarita Agarwal
Director Director