Mar 31, 2014
Dear Members,
The Directors here by present the 33rd Annual Report on business and
operations of the Company together with the Audited statements of
Accounts for the financial year ended on 31st March 2014.
OPERATIONS REVIEW:
During the year under review due to sluggish market condition and
financial crisis company faces huge set back. So company not in
position to generate any revenue from the operation but due to some
fixed cost company posted Net Loss of Rs. 831428.
The management has taken measures as part of its continuous
improvements to strengthen operations and viability.
DIVIDEND:
Your Directors have not declared any dividend during the year under
review due to loss incurred.
FIXED DEPOSIT:
The Company has not accepted any deposit from the public pursuant to
the provisions of Section 58A of the Companies Act, 1956.
BOARD OF DIRECTORS:
MR. ANAND TRIVEDI Director of the Company is retires by rotation at the
ensuing Annual General Meeting and being eligible, offer himself for
reappointment.
MR. HARLEEN SINGH KATHURIA and MR. VIRAL KAPADIA Director of the
Company who was appointed as a Director whose office liable to retire
by rotation, be and is hereby appointed as an Independent Director of
the Company to hold office for a period of 5 (five) consecutive years
for a term from the conclusion of this 33rd Annual General Meeting up
to the conclusion of the 38th Annual General Meeting.
MR. SHANKAR BHAGAT was ceased to as Director of the company with effect
from 10.01.2014 due to resignation.
AUDITORS AND AUDITORS'' REPORT:
M/s. Y. D. & Co., Chartered Accountants, Ludhiana, Statutory Auditors
of the Company, hold office until the conclusion of the ensuing Annual
General Meeting and are eligible for reappointment. The observations
made by the Auditors'' in their Auditors'' Report and the Notes on
Accounts referred to in the Auditors'' Report are self- explanatory and
do not call for any further comments.
MANAGEMENT DISCUSSION AND ANALYSIS:
Management Discussion and Analysis forms part of the Annual Report to
the shareholders and it includes discussion on matters as required
under the provisions of Clause 49 of the listing agreement forming part
of this report is annexed herewith. The Audit Committee of the Company
has regularly reviewed internal Control System of the company.
CORPORATE GOVERNANCE REPORT:
Your Company has complied with the requirements of Clause 49 of the
Listing Agreement on Corporate Governance. Pursuant to Clause 49 of the
Listing Agreement with the Stock Exchanges, Report on Corporate
Governance along with the Auditors'' Certificate on its compliance is
annexed separately to this Annual Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The details of conservation of energy, technology absorption etc. as
required to be given under Section 217(l)(e) of the Companies Act 1956,
are not applicable to our Company, as our Company has not carried out
any manufacturing activities.
The foreign exchange earning on account of the operation of the Company
during the year was Rs. Nil.
PARTICULARS OF EMPLOYEES:
The statement showing particulars of employees under section 217(2A) of
the Companies Act, 1956, read with the companies (Particulars of
Employees) Rules, 1975, as amended, is not required to be given as
there were no employees coming within the purview of this section.
LISTING INFORMATION
The equity shares of the Company are listed on BSE Limited. The Shares
of the Company are also permitted to be traded on the BSE.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 217(2AA) of the Companies Act,
1956, the Directors of your Company confirm that:
i) in the preparation of the annual accounts, the applicable accounting
standards have been followed along with proper explanation relating to
material departures;
ii) 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 or
loss of the Company for that period;
iii) 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) Directors have prepared the accounts on a "going concern basis".
ACKNOWLEDGEMENT:
Your Directors would like to express their sincere appreciation for the
assistance and co-operation received from the Banks, Government
Authorities, Customers, and Shareholders during the year. Your
directors also wish to take on record their deep sense of appreciation
for the committed services of the employees at all levels, which has
made our Company successful in the business.
For and on Behalf of the Board
For, KAPPAC PHARMA LIMITED
PLACE: MUMBAI
DATE: 25.08.2014
(ANAND TRIVEDI)
CHAIRMAN
Mar 31, 2010
The directors have pleasure in presenting the Annual Report together
with the Audited Annual Accounts for the year ended on 31st March 2010.
(Rs In Lacs)
Financial Results 2009-2010 2008-2009
Total Income 0.00 197.68
Net Profit/ Loss Before
Depreciation & Tax (1.33) 0.04
Less : Depreciation 0.00 0.00
Net Profit/(Loss) Before Tax (1.33) 0.04
Less :Provision For Taxation (0.02) 0.00
Net Profit/(Loss) After Tax (1.33) 0.04
(1) Operations
Your directors inform that the company has incurred Loss of Rs 1.33
Lakh during the year. The company is confident to achieve higher sales
in the coming years. Your Directors do not recommend dividend for the
year to strengthen the position of the company.
(2) Directors
Mr.Anand Trivedi , Director will retire at the annual general meeting
of the company, and being eligible, offer themselves for
re-appointment. Mr. Harleen Singh Kathuria was appointed as additional
director of the company w.e.f 29.03.2010 under section 260 of the
companies act,1956 and is hereby regularised in the Annual General
Meeting.
(3) Auditors
M/s. Arvind A. Thakkar & Co., Chartered Accountants, Auditors of the
Company retires at the ensuing Annual General Meeting and re appointed
as Auditors of the Company and hold office from the Annual General
Meeting to Next Annual General Meeting.
The Statutory Auditors of the Company have submitted auditorÃs report
on the accounts of the Company for the accounting year ended 31st
March, 2010 which is self-explanatory and needs no comments.
(4) Fixed Deposits
The Company has not accepted any Public Deposits within the meaning of
the provisions of Section 58A of the Companies Act, 1956.
(5) Employees:
There were no employees coming within the ambit of section 217(2A) of
the Companies Act,1956.
(6) Conservation of Energy, Technology Absorption and Foreign Exchange
earnings and outgoings:
Since the company is not engaged in any manufacturing activities,
furnishing of details of conservation of energy & technology absorption
are not applicable.
Foreign Earning : Nil Foreign Outgoing : Nil
(7) Directors Responsibility Statement:
As required under sub-section (2AA) of Section 217 of the Companies
Act, 1956, the Directors confirm:
(i) That in preparation of the Annual accounts, the applicable
accounting standards had been followed.
(ii) that the Directors had 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 affairs of
the Company at the end of the financial year and of the financial year
and of the loss of the Company for the year.
(iii) that the Directors had 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 frauds and other
irregularities.
(iv) that the Directors had prepared the Annual Accounts on a going
concern basis.
(8) Acknowledgements.
The Directors place on record their appreciation of continued support,
Co-operation, assistance during the year by suppliers, customers, banks
and staff members & look forward for their continued support in future.
BY ORDER OF THE BOARD OF DIRECTORS,
FOR, KAPPAC PHARMA LIMITED
Date : 03.09.2010
Place: Mumbai. Sd/-
Director
Mar 31, 2009
The directors have pleasure in presenting the Annual Report together
with the Audited Annual Accounts for the year ended on 31st March 2009.
Financial Results
(Rs In Lacs)
2008-2009 2007-2008
Total Income 197.68 61.59
Net Loss Before Depreciation & Tax 0.04 (20.78)
Less: Depreciation 0.00 7.79
Net Profit/(Loss) Before Tax 0.04 (28.57)
Less Provision For Taxation 0.00 0
Net Profit/(Loss) After Tax 0.04 (28.57)
(1) Operations
Your directors have great pleasure to inform that the company has
achieved turnover of Rs.197.68 Lacs during the year and incurred Net
profit after tax of Rs.0.04 Lacs. The company is confident to achieve
higher sales in the coming years. Your Directors do not recommend
dividend for the year to strengthen the position of the company.
(2) Directors
Mr. Nilesh T. Kava, resigned as Director of the Company and served the
company till 15thApril, 2009. Mr. Shankar Prasad Bhagat, Director will
retire at the forthcoming annual general meeting of the company, and
being eligible, offer themselves for re-appointment.
(3) Auditors
M/s. Arvind A. Thakkar & Co., Chartered Accountants, Auditors of the
Company retires at the ensuing Annual General Meeting and re appointed
as Auditors of the Company and hold office from the Annua! General
Meeting to Next Annual General Meeting.
The Statutory Auditors of the Company have submitted auditors report
on the accounts of the Company for the accounting year ended 31st
March, 2009 which is self-explanatory and needs no comments.
(4) Fixed Deposits
The Company has not accepted any Public Deposits within the meaning of
the provisions of Section 58A of the Companies Act, 1956.
(5) Employees
There were no employees coming within the ambit of section 217(2A) of
the Companies Act, 1956.
(6) Conservation of Energy, Technology Absorption and Foreign Exchange
earnings and outgoings.
Since the company is not engaged in any manufacturing activities,
furnishing of details of conservation of energy & technology absorption
are not applicable.
Foreign Earning : Nil
Foreign Outgoing : Nil
(7) Directors Responsibility Statement
As required under sub-section (2AA) of Section 217 of the Companies
Act, 1956, the Directors confirm:
(i) That in preparation of the Annual accounts, the applicable
accounting standards had been followed.
(ii) that the Directors had 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 affairs of
the Company at the end of the financial year and of the financial year
and of the loss of the Company for the year.
(iii) that the Directors had 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 frauds and other
irregularities.
(iv) that the Directors had prepared the Annual Accounts on a going
concern basis.
(8) Increase in the Authorised Share Capital
Increase of Authorised Capital from Rs.2,00.00.000 to Rs.4.00,00.000
During the year the Company had vide resolution passed by the members
at their Extra Ordinary General Meeting dated 18th May, 2009, increased
the Authorised Share Capital of the Company to Rs.4,00,00,000
Consisting of 40,00,000 Equity Shares of Rs.10/- each.
Increase of Authorised Capital from Rs.4.00.00.000 to Rs.24.00.00.000
The Board of Directors in their meeting dated 25th August,20Q9 proposed
to increase the Authorised Share Capital of the Company to
Rs.24,00,00,000/- consisting of 2,40,00,000 equity shares of Rs.10/-
each. The proposal will be placed before the member for their approval
in Annual General Meeting.
(9) Preferential Issue of Convertible Equity Warrants Preferential
Issue of 30.00.000 Convertible Equity Warrants:
In order to expand the business of the company, to strengthen the
equity base and to make the net worth of the company positive, Board of
Directors of the Company decided to Issue Convertible Equity Warrants
on preferential Base under the provisions of Chapter XIII of the SEBI
(Disclosure and Investor Protection Guidelines),2000 (and all
subsequent amendments thereof) and Section 81 (1A) of the Companies
Act, 1956.
The approval of the Members for this purpose was taken vide their Extra
Ordinary General Meeting dated18th May,2009 and thereby the Company
issued, offered and allotted 30,00,000 Convertible warrants to be
converted into 30,00,000 Equity shares of Rs.10/- each within 18 months
from their allotment.
An amount of Rs. 12.28 Per warrant has already been received by the
company so far.
Preferential Issue of 2,00.00.000 Convertible Equity Warrants:
In order to expand the business of the company in research and
development activities and to fulfill the requirement of the normal
working capital, Board of Directors of the Company decided to Issue
Convertible Equity Warrants on preferential Base under the provisions
ofChapter XIII of the SEBI (Disclosure and Investor Protection
Guidelines),2000 (and all subsequent amendments thereof) and Section 81
(1 A) of the Companies Act, 1956.
This proposal will be placed before the members for approval in this
Annual General Meeting.
(10) Acknowledgements.
The Directors place on record their appreciation of continued support,
Co-operation, assistance during the year by suppliers, customers, banks
and staff members & look forward for their continued support in future.
BY ORDER OF THE BOARD OF DIRECTORS,
FOR, KAPPAC PHARMA LIMITED
Date : 25.08.2009
Place:Mumbai
CHAIRMAN