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Directors Report of Jupiter Industries and Leasing Ltd.

Mar 31, 2014

Dear Members,

The Directors are pleased to place before you the Thirtieth Annual Report and the Audited Accounts of the Company for the year ended 31st March, 2014.

1. OPERATIONS & FINANCIAL RESULTS

Year ended Year ended 31-03-2014 31-03-2013 Rupees Rupees

Profit/(Loss) before

Depreciation (1,34,520) (1,68,197)

Less: Depreciation provided for the year - -

Profit/(Loss) before Tax (1,34,520) (1,68,197)

Less: Provision for Tax - -

Profit/(Loss) after Tax (1,34,520) (1,68,197)

Add: Balance brought forward from the previous year (2,48,22,533) (2.46,54,336)

Amount carried to balance sheet (2,49,57,053) (2,48,22,533)

2. DIVIDEND

In view of the accumulated losses, your Directors regret their inability to recommend any dividend for the year.

3. OPERATION & PROSPECTS

In view of the accumulated losses, the company is not in a position to carry out any Business activity.

4. FIXED DEPOSITS

The Company does not hold any Fixed Deposits from the public as on 31st March, 2014.

5. DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and the Company''s Articles of Association Mr. H. D. Shah, Director retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment.

6. DIRECTORS RESPONSIBILITY STATEMENT

Your Directors confirm:

1) that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure;

2) that the Directors have selected such accounting policies and applied them consistently and made judgements 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 ended 31st March, 2014 and of the 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 provisions of the Companies Act, 1956, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

4) that the Directors have prepared the annual accounts on a going concern basis.

7. AUDITORS

M/s. A.B. Modi & Associates, Chartered Accountants, Auditors of your Company, retire at the conclusion of the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

8. PARTICULARS OF EMPLOYEES

There were no employees drawing salary as prescribed under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended.

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

Information in accordance with 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 not given, as it is not applicable to the Company.

10. ACKNOWLEDGMENT

Your Directors take this opportunity to express their warm appreciation of the dedicated services rendered by the personnel of the Company. The Directors also place on record their sincere thanks for the co-operation and support extended to your Company by the Bankers and Shareholders.

By Order of the Board of Directors

H D. SHAH Director

Place : Mumbai Date : 30th May, 2014


Mar 31, 2011

The Directors are pleased to place before you the Twenty-Seventh Annual Report and the Audited Accounts of the Company for the year ended 31st March, 2011.

1. OPERATIONS & FINANCIAL RESULTS

Year ended Year ended 31-03-2011 31-03-2010 Rupees Rupees

Profit/(Loss) before

Depreciation (95,033) (71,644) Less: Depreciation provided

fortheyear 61,825 16,22,875

Profit/(Loss) before Tax (1,56,858) (16,94,519)

Profit/(Loss) after Tax (1,56,858) (16,94,519)

Add: Balance brought forward

from the previous year (2,54,97,564) (2,38,03,045)

Amount carried to balance sheet (2,56,54,422) (2,54,97,564)

2. DIVIDEND

In view of the accumulated losses, your Directors regret their inability to recommend any dividend for the year.

3. OPERATION & PROSPECTS

In view of the accumulated losses, the company is not in a position to carry out any Business activity.

4. FIXED DEPOSITS

The Company does not hold any Fixed Deposits from the public as on 31st March, 2011.

5. DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and the Company's Articles of Association Mr. H. D. Shah, Director retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment

During the year, Mr. R.G. Pai, Director, demised and hence he ceased to be the Director on the Board of the Company with effect from 17th June, 2011. The Board wishes to place on record its appreciation for his valuable contribution during his long association with the Company which came to an end due to his sad demise.

Mr. P. P. Kanungo was appointed as an Additional Director to fill in the said casual vacancy caused due to the sad demise of Mr. R. G. Pai Mr. P. P. Kanungo was appointed as Additional Director with effect from 17th June, 2011.

6. DIRECTORS RESPONSIBILITY STATEMENT

Your Directors confirm :

1) that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no 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 ended 31st March, 2011 and of the 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 provisions of the Companies Act, 1956, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

4) that the Directors have prepared the annual accounts on a going concern basis.

7. AUDITORS

The Auditors of the Company M/s. J.D. Gandhi & Co., Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and, have expressed their inability to continue, since they are preoccupied, as Auditors of the Company. The Directors therefore propose M/s. K V S & Company, Chartered Accountants, be appointed as the Auditors of your Company, and they have given their certificate to the effect that, the appointment if made, will be in accordance with the limits specified in Section 224 (1B) of the Companies Act 1956.

8. PARTICULARS OF EMPLOYEES

There were no employees drawing salary as prescribed under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended.

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

Information in accordance with 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 not given, as it is not applicable to the Company.

10. ACKNOWLEDGMENT

Your Directors take this opportunity to express their warm appreciation of the dedicated services rendered by the personnel of the Company. The Directors also place on record their sincere thanks for the co-operation and support extended to your Company by the Bankers, Clients and Shareholders.

By Order of the Board of Directors

H.D. SHAH Director

Mumbai,

7th September, 2011


Mar 31, 2010

The Directors are pleased to place before you the Twenty-Sixth Annual Report and the Audited Accounts of the Company for the year ended 31th March, 2010.

1. OPERATIONS & FINANCIAL RESULTS

Year ended Year ended 31-03r2010 31-03-2009 Rupees Rupees

Profit/(Loss) before

Depreciation (71,644) (90,410)

Less: Depreciation provided for the year 16,22,875 16,22,875

Profit/(Loss) before Tax (16,94,519) (17,13,285)

Profit/(Loss) after Tax (16,94,519) (17,13,285)

Add: Balance brought forward from the previous year (2,38,03,045) (2,20,89,760)

Amount carried to balance sheet (2,54,97,564) (2,38,03,045)

2. DIVIDEND

In view of the accumulated losses, your Directors regret their inability to recommend any dividend for the year.

3. OPERATION & PROSPECTS

In view of the accumulated losses, the company is not in a position to carry out any Business activity.

4. FIXED DEPOSITS

The Company does not hold any Fixed Deposits from the public as on 31st March, 2010.

5. DIRECTORS

In accordance with the provisions of the Companies Act, 1956 and the Companys Articles of Association Mr. S. H Shah, Director retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment.

Mr. R. V. Joshi, Director of your company has resigned. The Board of Directors have placed on record their sincere appreciation of the services rendered by him.

6. DIRECTORS RESPONSIBILITY STATEMENT

Your Directors confirm:

1) that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure;

2). that the Directors have selected such accounting policies and applied them consistently and made judgements 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 ended 31* March, 2010 and of the 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 provisions of the Companies Act, 1956, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

4) that the Directors have prepared the annual accounts on a going concern basis.

7. AUDITORS

The Auditors of the Company M/s. Gandhi & Associates, Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and, have expressed their inability to continue, as Auditor of the company, since they are preoccupied. The Directors therefore propose M/s. J.D. Gandhi & Co. Chartered Accountants, be appointed as the Auditors of your Company, and they have given their certificate to the effect that, the appointment if made, will be in accordance with the limits specified in Section 224 (1B) of the Companies Act 1956.

8. PARTICULARS OF EMPLOYEES

There were no employees drawing salary as prescribed under Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended.

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

Information in accordance with 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 not given, as it is not applicable to the Company.

10. ACKNOWLEDGMENT

Your Directors take this opportunity to express their warm appreciation of the dedicated services rendered by the personnel of the Company. The Directors also place on record their sincere thanks for the co-operation and support extended to your Company by the Bankers, Clients and Shareholders.

By Order of the Board of Directors

H.D.SHAH

Chairman

Mumbai,

6th September, 2010

 
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