Mar 31, 2014
Dear Members,
Your Directors feel pleasure in presenting the Annual Report of your
Company together with the audited Statement of Accounts for the
financial year ended on March31,2014
Financial Results
As on March 31, As on March 31,
ITEM 2014(in Rs.) 2013(in Rs.)
Sales & other Income
Gross Profit/Loss (1.536,233.66) (1,123,740 84)
Depreciation NIL NIL
Income tax paid for earlier year
Profit/Loss brought forward (1,536,233.66) (1.123,740.84)
Transferred to General Reserve - -
Profit / Loss available for - -
appropriation
Balance carried to Balance Sheet (1,536,233.66) (1,186,478.84)
Current Operations & Future Outlook
Due to liquidity crunch and continuous losses, the Company has not been
able to carry on any business activity during the year and the cash
losses have been incurred due to routine expenses incurred under
review. However, the management of the Company is in the process of
reviewing and preparing necessary business plans Svarious strategies
for initiating its operations in the field of trading in tricyclesand
plastic items
Dividend
There being no profits, the directors regret their inability to
recommend any dividend for the Financial Year beginning on April 1 2013
and ending on March 31, 2014
Directors
Mr Hemant Rastogi Chairman, Non-Executive & Non- Independent Director
of the Company is proposed to be appointed as Whole Time Director of
Company in compliance with the terms ofSection 196, 197 and 203 read
with Schedule V and the Companies (Appointment and Remuneration of
Managerial Personnel) Rules. 2014 and all other applicable provisions
of the Companies Act, 2013 (including any statutory modification(s) or
re-enactment thereof, for the time being in force).
The Board of Directors has proposed to constitute a vigilance mechanism
for Directors and Employees to provide adequate path to have direct
access to the chairperson of Audit Committee for the better corporate
governance
The Board of Directors proposed to change the nomenclature of "Share
Transfer and Investor Grievance Committee" to "Stakeholders
Relationship Committee" w e f the date of Board Meeting held on
September 03 2014
Directors Responsibility Statement
1 The annual accounts for the financial year ended March 31, 2014 were
prepared as per the applicable Accounting Standards along with proper
explanations relating to material departures,
2 The Directors have selected such accounting policies & applied them
consistently & made judgments & estimates that are reasonable & prudent
so as to give a true & fair view of the state of affairsand losses of
the Company at the end of the financial year,
3. The Directors have taken proper & sufficient care 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 & detecting fraud & other
irregularities;
4. The Directors have prepared the annual accounts of the Company for
the Financial Year ended March 3151 2014 on a going concern basis.
Deposits
Your Company has not accepted any deposits during the period under
review within the meaning of Section 73 of the Companies Act, 2013 read
with Companies (Acceptance of Deposit) Rules. 2014
Particulars of Employees
During the year, there was no employee covered under Section 217(2A) of
the Companies Act, 1956 read with the Companies (Particulars of
Employees) Rules, 1975.
Status of Listing
The Company's shares are listed at BSE Limited, Delhi Stock Exchange
Limited and Calcutta Stock Exchange Limited
Auditors
The Statutory Auditors of the Company, M/s BNPSY & Associates.
Chartered Accountants who are been retiring at the ensuing Annual
General Meeting have expressed their willingness to continue as
Auditors of the Company,
A consent letter has been received from M/s. BNPSY & Associates,
Chartered Accountants, for its reappointment as statutory auditors of
the company for the financial year 2013-2014 A written certificate to
the effect that the reappointment, if made, will be in accordance with
the limits specified in Section 141 and the Companies (Audit and
Auditors) Rules, 2014 (including any statutory modification(s) or re-
enactment thereof, for the time being in force), has also been obtained
by the company from the statutory auditors
Your directors recommend the appointment of M/s BNPSY & Associates,
Chartered Accountants as Statutory Auditors of the Company till the
conclusion of next Annual General Meeting for audit of Accounts for the
financial year 2014-15
Book Closure
The transfer books of the company will be closed from September 26,2014
to September 30, 2014 both days inclusive for purpose of Annual General
Meeting dated September 30lh, 2014.
Management Discussion and Analysis Report
A report on industry analysis is attached hereto and forms part of the
Directors Report.
Corporate Governance
A separate section on Corporate Governance is attached hereto and forms
part of this report Material Changes
During the year under review, the name of the Companyhas been changed
from 'Tobu Enterprises Limited' to 'Justride Enterprises Limited'i.e.
w.e.f. September 10, 2013.
Internal Control
The Company has adequate internal control procedures commensurate with
the size and nature of business The Board of Directors periodically
reviews the audit plans, internal audit reports, adequacy of internal
controls and risk management.
Particulars of Conservation of Energy, Technology Absorption and
Foreign Exchange Earnings and Outgo as per Section 134(3)(m) of
Companies Act, 2013 along with Rule 8 of Companies (Accounts) Rules,
2014 read with Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules, 1988.
Conservation of Energy
Presently there being no operations involving energy consumption, thus
the provisions with respect to conservation of energy does not apply.
Form of Disclosure of Particulars with respect to Absorption of
Technology, Research & Development.
Research & Development
1 Specific areas in which R & D carried out by the company-There was no
research and development activity carried out during the financial year
2 Benefits derived as a result of the above R&D- No benefits were
derived, as no R&D was undertaken
3. Future plan of action -The Management of the Company is making
necessary roadmap for starting new business operations i.e. for
undertaking projects in the field of rail infra
4 Expenditure on R & D -No R&D activity was undertaken during the last
financial year.
Technology Absorption, Adaptation and Innovation
No technology was absorbed, adapted or innovated during the financial
year.
1 Efforts, in brief, made towards technology absorption, adaptation and
innovation-No technology was absorbed, adapted or innovated during the
last financial year
2 Benefits derived as a result of the above efforts, e.g., product
improvement, cost reduction, product development, import substitution,
etc- Not applicable, as no such initiatives in this behalf were
undertaken.
3 Import of Technology- No technology has been imported during the last
financial year.
Foreign Exchange-Earning /Outgo
There is no transaction made by the company involving Foreign Exchange
Acknowledgement
Your Directors would like to express their grateful appreciation for
the assistance, cooperation and trust reposed in your Company by the
investors, Banks, Securities and Exchange Board of India, Reserve Bank
of India, Stock Exchanges and other Government Authorities during the
financial year under review Your Directors wish to place on record
their deep sense of appreciation for its clients and for the devoted
services of the young team of professionals of the Company for its
success.
Your Directors also wish to place on record their sincere appreciation
of the contribution made by the employees of the Company and are
thankful to the shareholders for their continued patronage and support.
By order of the Board of Directors
For Justride Enterprises Limited
Sd/-
Hemant Rastogi
Chairman
DIN-00479470
Date September 03, 2014
Place New Delhi
Mar 31, 2013
To The Members
The Directors feel pleasure in presenting the Annual Report of your
Company together with the audited Statement of Accounts for the
financial year ended on 31st March, 2013.
Financial Results
ITEM As on 31st March As on 31st March
2013 (in Rs.) 2012 (in Rs.)
Sales & other Income - 286,559.00
Gross Profit/Loss (1,186,478.84) (422,134.00)
Depreciation NIL NIL
Income tax paid
for earlier year - -
Profit /Loss
brought forward (71,643,745.93) ( 71,221,611.93)
Transferred to
General Reserve - -
Profit / Loss
available for
appropriation
Balance carried to
Balance Sheet (72,830,224 77) (71,643,745.93)
Current Operations
& Future Outlook
Due to liquidity crunch and continuous losses, the Company has not been
able to carry on any business activity during the year and the cash
losses have been incurred due to routine expenses incurred under
review. However, the management of the Company is in the process of
reviewing and preparing necessary business plans & strategies for
initiating its operations in the field of trading in tricycles and
plastic items.
In this respect, we are pleased to report that on July 23, 2012, we
have received the BSE''s in Principe approval for revocation of
suspension and to accord the final approval, the Company had submitted
all the requisite documents well within time. However, due to change in
the bye-laws of the BSE, the Company has recently in June, 201,
submitted the additional documents as sought by BSE including
Information Memorandum (prepared in compliance with the provisions of
Schedule II of the Companies Act, 1956).
Dividend
There being no profits, the directors regret their inability to
recommend any dividend for the Financial Year beginning on 1st April
2012 and ending on 31** March 2013.
Directors
The Board of Directors of the Company is duly reconstituted and Mr.
Harish Agarwal and Mr. Tulsi Bansal who were earlier appointed as
additional directors, were regularized as Directors during the year
ended 31st March, 2013.
Directors Responsibility Statement
1. The annual accounts for the financial year ended 31''st March, 2013
were prepared as per the applicable e Accounting Standards along with
proper explanations relating to material departures;
2. The Directors have selected such accounting policies & applied them
consistently & made judgments & estimates that are reasonable & prudent
so as to give a true & fair view of the state of affairs and losses of
the Company at the end of the financial year;
3. The Directors have taken proper & sufficient care for the
maintenance of adequate accounting records n accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing & detecting fraud & other
irregularities;
4 The Directors have prepared the annual accounts of the Company for
the Financial Year ended 31st March, 2013 on a going concern basis.
Deposits
Your Company has not accepted any deposits during the period under
review within the meaning of Section 58A of the Companies Act, 1956
read with ''Companies (Acceptance of Deposit) Rules 1975''.
Particulars of Employees
During the year, there was no employee covered under Section 217(2A) of
the Companies Act, 19E6 read with the Companies (Particulars of
Employees) Rules, 1975.
Status of Listing
The Company''s shares are listed at BSE Limited, Delhi Stock Exchange
Limited and Calcutta Stock Exchange Limited.
Auditors
The Statutory Auditors of the Company, M/s BNPSY & Associates,
Chartered Accountants, who are been retiring at the ensuing Annual
General Meeting have expressed their willingness to continue as
Auditors of the Company.
A consent letter has been received from M/s BNPSY & Associates,
Chartered Accountants, for its reappointment as statutory auditors of
the company for the financial year 2013-2014. A written certificate, to
the effect that the reappointment, if made, will be in accordance with
the limits specified in sub-section (1B) of Section 224, has also been
obtained by the company from the statutory auditors
Your directors recommend the appointment of M/s BNPSY & Associates,
Chartered Accountants ;as Statutory Auditors of the Company till the
conclusion of next Annual General Meeting for audit of Accounts for the
financial year 2013-14.
Book Closure
The transfer books of the company will be closed from September 26,
2013 to September 30, 2013 both days inclusive for purpose of Annual
General Meeting dated September 30, 2013.
Management Discussion And Analysis Report
A report on industry analysis is attached hereto and forms part of the
Directors Report.
Corporate Governance
A separate section on Corporate Governance is attached hereto and forms
part of this report.
Material Changes
There has been no material changes occurred during the last financial
year.
Qualification
Auditors Report of the Company contains
Qualifications/reservation/adverse remark by the Auditors. The
management''s reply to the adverse remarks is annexed at Annexure-I.
Internal Control
The Company has adequate internal control procedures commensurate with
the size and nature of business. The Board of Directors periodically
reviews the audit plans, internal audit reports, adequacy of internal
controls and risk management.
Particulars of Conservation of Energy. Technology Absorption and
Foreign Exchange Earnincis and Outgo as per Section 217(1)(e) of
Companies Act. 1956 read with Companies (Disclosure at Particulars in
the Report of Board of Directors) Rules. 1988
Conservation of Energy
Presently there being no operations involving energy consumption, thus
the provisions with respect to conservation of energy does not apply.
Form of Disclosure of Particulars with respect to Absorption of
Technology. Research & Development.
Research & Development
There was no Research and development activity carried out during the
financial year
1 Specific areas in which R & D carried out by the company- There was
no research and development activity carried out during the financial
year.
2. Benefits derived as a result of the above R&D- No benefits were
derived, as no R&D was undertaken
3. Future plan of action - The Management of the Company is making
necessary roadmap for starting new business operations i.e. for
undertaking projects in the field of rail infra.
4. Expenditure on R & D - No R&D activity was undertaken during the
last financial year.
Technology Absorption, Adaptation and Innovation
No technology was absorbed, adapted or innovated during the financial
year.
1. Efforts, in brief, made towards technology absorption, adaptation
and innovation- No technology was absorbed, adapted or innovated during
the last financial year.
2. Benefits derived as a result of the above efforts, e.g., product
improvement, cost reduction, product development, import substitution,
etc- Not applicable, as no such initiatives in this behalf were
undertaken.
3. Import of Technology- No technology has been imported during the
last financial year.
Acknowledgement
Your Directors would like to express their grateful appreciation for
the assistance, co operation and Trist reposed in your Company by the
investors, Banks, Securities and Exchange Board of India, Reserve Bank
of India, Stock Exchanges and other Government Authorities during the
financial year under review. Your Directors wish to place on record
their deep sense of appreciation for its clients and for the devote
services of the young team of professionals of the Company for its
success.
Your Directors also wish to place on record their sincere appreciation
of the contribution made by the employees of the Company and are
thankful to the shareholders for their continued patronage and support.
By order of the Board of Directoifs
For Tobu Enterprises Limited
Sd/-
Hemant Rastogi
Chairman
DIN-00479470
Date: September 2, 2013
Place: New Delhi
Mar 31, 2011
To The Members of TOBU ENTERPRISES LIMITED
The Director take pleasure in presenting the Forty Fifth Annual
Report together with Audited Statements of Accounts tor the year
ended 31st March 2011
Amount in (Rs)
FINANCIAL RESULTS Current Year Previous Year
Turnover /other income 682,062 92,635
Gross Profit/loss (162,712) (1274769)
Depreciation 0.00 0.00
Income tax paid for earlier year
Profit/(Loss) brought toward (71,058.397) (70,784,128)
Transferred from General reserve - -
Profit/Loss available for
appropriation - -
APPROPRIATIONS
Balance Carried to Balance Sheet (71,221.609) (71058897)
CORPORATE OVERVIEW:
With the growing competition and aggressive pricing policies, the
Company with a not so good liquidity position has not been able to
maintain its performance.
During the year under review the turnover of your Company increased to
Rs.589,427. The losses for the company has decreased to Rs.112057.
(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; and
(iv) That the Directors have prepared the Annual Accounts on a going
concern basis.
Particulars of Employees and Disclosure of information
There were no employees drawing remuneration more than the limit
prescribed under Section 217(2A) of the companies Act, 1956 read with
the companies (Particulars of Employees) Rules. 1975
Status of Listing
The Company's shares are listed at The Delhi Stock Exchange Ltd; The
Stock Exchange, Mumbai.
Auditor
Members are requested to re-appoint M/s Padam Bahl & Co. Chartered
Accountants, as Auditors of the Company for the current year and to fix
their remuneration
Auditors Report of the company contain the qualifications given by the
Auditor
The Company has adequate internal control procedures commensurate with
its size and nature business The Board of Directors periodically
reviews the audit plans, internal audit reports adequacy of internal
controls and risks management
Harmonious Industrial climate and inter personal relationship continue
to prevail and will further strengthen the well established traditions
and commitments to the future growth of the employees.
In view of the nature of activities which are being carried out the
Company, Rules (a) & (b) Companies (disclosure of particulars in report
of Board of Directors) Rules. 1988 concerning conservation and
technology absorption respectively are not applicable to the Company.
Acknowledgement
Your Directors would like to express their grateful appreciation for
the assistance, cooperation and trust reposed in your Company by the
investors, Banks, Securities and Exchange Board of India, Reserve Bank
of India, Stock Exchanges and other Government Authorities during the
financial year under review. Your Directors wish to place on record
their deep sense of appreciation for its clients and for the devoted
services of the young team of professionals of the company for its
success.
Your Directors also wish to place on record their sincere appreciation
of the contribution made by the employees of the Company and are
thankful to the shareholders for their continued patronage and support.
FOR AND ON BEHALF OF THE BOARD
TOBU ENTERPRISES LIMITED
For Tobu Enterprise Limited
Director
Ajay Mathur Hemant Rastogi
(Managing Director) (Director)
Place: New Delhi
Date: 29/08/2011
Mar 31, 2010
To The Members of TOBU ENTERPRISES LIMITED
The Directors take pleasure in presenting the Forty Fourth Annual
Report together with Audited statements of Accounts for the year ended
31st March 2010
Amount in (Rs,)
FINANCIAL RESULTS Current Year Previous Year
Gross Profit (loss) (274769) (155303)
Depreciation 0.00 0.00
Income tax paid for earlier year - -
Profit (Loss) brought forward (70784128) (70628825)
Transferred from General Reserve - -
Profit/ Loss available for appropriation - -
APPROPRIATIONS
Balance Carried to Balance Sheet (71058897) (70784128)
Corporate Overview:
With the growing competition and aggressive pricing policies the
company with a not so good liquidity position has not been able
maintain its performance.
During the year under review the turnover of your company increased to
Rs.92635 The losses for the company has increased to Rs.119466
Outlook for Exports
The company is in the process of exploring New markets overseas and
hope to Achieve new export horizons.
Review of Operations and Future outlook
The company has made a loss during the year.
Dividend
Keeping in view the financial performance your Directors do not
recommend any dividend at this stage for the year ended 31st March 2010
Public Deposits
The Company has not accepted deposited pursuant to section 58A of the
companies Act, 1956
Director
In accordance with the Articles of Association of the company Mr.
Hemant Rastogi Director of the company retire by rotation and being
eligible, offer himself for re-appointment.
Management Discussion and Analysis
In this Annual Report we have attached Management's Discussion and
Analysis section that highlights the company industry and Markey
overview, opportunities threats, a segment wise performance outlook
risk and concern, adequacy of internal control systems financial and
operational performance as well as issues of human resource and
development.
Corporate Governance
Reports on Corporate governance in accordance with clause 49 of the
listing Agreement with stock Exchanges along certificates from Auditors
are given separately in this Annual Report.
Director Responsibility Statement
Your Director Confirm
(i) That in the preparation of the Annual Accounts the applicable
accounting standards have been followed;
(ii) That the Director 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 2009, and of the Profit of the company for that year.
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 and
iv) That the Director have prepared the Annual Accounts on a going
concern basis
Particulars of Employees and Disclosure information
There were no employees drawing remuneration more than the limit
prescribed under section 217(2A) of the companies Act, 1956 read with
the companies (Particulars of Employees) Rules 1975
Status do Listing
The Company's shares are listed at the Delhi Stock Exchange Ltd. The
Stock Exchange Mumbai.
Auditors
Members are requested to re-appointment M/s Padam Bahl & CO,. Chartered
Accounts as auditors the company for the current year and to fix their
remuneration.
Auditors Report
Auditors Report of the company contain the qualifications given by the
auditor.
Risk and Internal Adequacy
The company has adequate internal control procedures commensurate with
its size and nature business. The board of Directors periodically
reviews the audit plans, internal audit repots adequacy of internal
controls and risk management.
Industrial Relations
Harmonious Industrial climate and inter personal relation continue to
prevail and will further strengthen well established traditions and
commitments to the future growth of the employees.
Conservation of Energy Technology Absorption and Foreign Exchange
Earnings and outgo.
In view of the nature of activities which are being carried out the
company Rules (a) & (b) of companies (disclosure of particulars in
report of Board of Directors) Rules 1988 concern conservation and
technology receptivity are not applicable to the company.
Acknowledgement
Your Directors would like to express their grateful appreciation for te
assistance cooperation and trust deposed in your company by the
investors Banks Securities and Exchange Board of India, Reserve Bank of
India , stock Exchanges and other Government Authorities during the
financial year under review Your Director wish to place on record
their deep sense of appreciation for its clients and for the devoted
services of the young team of professionals of the company for its
success.
Your Directors also wish to place on record their sincere appreciation
of the contributions made by the employees of the company and are
thankful to the shareholders for their continued patronage and support.
FOR AND ON BEHALF OF THE BOARD
TOBU ENTERPRISES LIMITED
Ajay Mathur Hemant Rastogi
(Managing Director) ( Director)
Place; New Delhi
Date:30/08/2010