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Directors Report of KLK Electrical Ltd.

Mar 31, 2014

Dear Members,

The Directors have great pleasure in presenting the 33rd Annual Report of the Company with audited accounts for the year ended 31st March, 2014.

FINANCIAL RESULTS:

Particulars 31-03-2014 31-03-2013 (Rs.ln Lakhs) (Rs.ln Lakhs)

Sales 0 12

Other Income Nil Nil

Profit/(Loss)before Dep.& Tax -3.87 -3.46

Depreciation Nil Nil

Profit/(Loss) after Depreciation -3.87 -3.46

Provision for Taxational Nil Nil

Profit/(Loss) after Tax -3.87 -3.46

Add: Balance of Loss B/f -99.13 -95.67

(Loss) Balance C/F to next year -102.99 -99.13

OPERATIONS:

The Company achieved turnover of Rs. NIL (Previous Year Rs. 12 Lakhs). The turnover declined due to lack of demand. The Board is evaluating different projects.

DEPOSITS:

The Company has not invited / received any fixed deposits during the year under review as per section 58A of the Companies Act, 1956 read with Companies (Acceptance of Deposits) Rules, 1975.

DIVIDEND:

Due to loss incurred during the year, your directors have not recommended any dividend for the financial year ended 31 st March, 2014 to the members.

DIRECTORS:

Mr. Dattatray Patil director of the company retires by and rotation is eligible for reappointment as director of the company.

AUDITORS:

M/s. Chitta and Associates , Chartered Accountant, retire as Auditor of the Company at the conclusion of the ensuing Annual General Meeting and have expressed their inability to continue. Hence it is proposed that M/s. Anant Rao and Mallik be appointed as the auditors of the company until the next AGM

AUDITORS REPORT:

The observations made by the auditor in his report and notes to the accounts are self-explanatory.

LISTING STATUS:

The Company''s Shares are listed both in Chennai and Bombay Stock Exchanges at present. Listing fees have been paid for the financial year.

CORPORATE GOVERNANCE:

Pursuant to the circular of Securities and Exchange Board of India, the Stock Exchanges have incorporated a Clause 49 in the Listing Agreement on Corporate Governance with regard to the composition of Board of Directors, Audit Committee, Remuneration of Directors, Board meeting procedures, Management, discussions and analysis about the business, Redressal of Shareholders'' grievances and their services.

According to the schedule of implementation forwarded by these Stock Exchanges, the Companies whose paid-up capital is Rs.3 Crores and above is advised to comply with the Clause 49 of the Listing Agreement. Since the capital of your Company is less than Rs.3 Crores, compliance of the Clause 49 of the Listing Agreement does not arise.

INFORMATION UNDER SECTION 217(1)(E) OF THE COMPANIES ACT, 1956 READ WITH COMPANIES (DISCLOSURES OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES AND FORMING PART OF DIRECTORS REPORT.

1) . CONSERVATION OF ENERGY:

The company has no activity relating to Conservation of Energy, during the year.

2) . TECHNOLOGY ABSORPTION:

The Company has entered into Technical collaboration with M/s. Elin Union, Austria.

3) . FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Company did not have any foreign exchange or outgo during the year.

DIRECTORS'' RESPONSIBILITY STATEMENT:

In terms of provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm.

1. That in the preparation of the Annual accounts, for the financial year ended 31st March, 2014 the applicable accounting standards had been followed along with proper explanations relating to material departures.

2. That the Directors had 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 and of the profit of the Company for that period.

3. 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 fraud and other irregularities; and

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

COMPLIANCE CERTIFICATE:

Compliance Certificate as required under provision to Sub-section (1) of Section 383A of Companies Act, 1956 has been obtained from the company secretary, M/s. Lakshmi Subramanian & associates, Chennai.

PERSONNEL:

Particulars of Employees pursuant to Section 217(2A) of the Companies Act, 1956 are not applicable since there was no person was employed in the company during the year who was in receipt of remuneration in excess of the limits specified herein during the period under review.

ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for the assistance and continued co-operation extended by the Banks, Government Authorities and Clients during the period under review. Your Directors wish to place on record their deep sense of appreciation for the devotion and sense of commitment shown by the employees at all the level and acknowledge their contribution for its success.

For and on behalf of the Board (R.Ravi Kumar Rao) KLK Electrical Limited Wholetime Director Old No.2,New No.3, 1st Main road Seethammal Colony,Teynampet Place: CHENNAI Chennai-600018 4.9.2014


Mar 31, 2013

Dear Members,

The Directors have great pleasure in presenting the 32nd Annual Report of the Company with audited accounts for the year ended 31st March, 2013.

FINANCIAL RESULTS:

Particulars 31-03-2013 31-03-2012 (Rs.ln Lakhs) (Rs.ln Lakhs)

Sales 12 34.95

Other Income Nil Nil

Profit/(Loss) before Dep.& Tax -3.46 -18.81

Depreciation Nil Nil

Profit/(Loss) after Depreciation -3.46 -18.81

Provision for Taxation Nil Nil

Profit/(Loss) after Tax -3.46 -18.81

Add: Balance of Loss B/f -95.67 -76.86

(Loss) Balance C/F to next year -99.13 -95.67

OPERATIONS:

The Company achieved turnover of Rs. 12 Lakhs (Previous Year Rs. 34.95 Lakhs).

The turnover declined due to lack of demand.

DEPOSITS:

The Company has not invited / received any fixed deposits during the year under review as per section 58A of the Companies Act, 1956 read with Companies (Acceptance of Deposits) Rules, 1975. i

DIVIDEND:

Due to loss incurred during the year, your directors have not recommended any dividend for the financial year ended 31st March, 2013 to the members.

DIRECTORS:

Mr. Brij Mohan Mandala and Mr. Rajendra Naniwadekar directors of the company retire by rotation and are eligible for reappointment as directors of the company. However Mr.BrijMohan has expressed his inability to continue. The Board places on record its appreciation for the valuable services rendered by Mr.Brij Mohan Mandala.

AUDITORS:

M/s. Chitta and Associates , Chartered Accountants, retire as Auditors of the Company at the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

AUDITORS REPORT:

The observations made by the auditor in his report and notes to the accounts are self-explanatory.

LISTING STATUS:

The Company''s Shares are listed both in Chennai and Bombay Stock Exchanges at present. Listing fees have been paid for the financial year.

CORPORATE GOVERNANCE:

Pursuant to the circular of Securities and Exchange Board of India, the Stock Exchanges have incorporated a Clause 49 in the Listing Agreement on Corporate Governance with regard to the composition of Board of Directors, Audit Committee, Remuneration of Directors, Board meeting procedures, Management, discussions and analysis about the business, Redressal of Shareholders'' grievances and their services.

According to the schedule of implementation forwarded by these Stock Exchanges, the Companies whose paid-up capital is Rs.3 Crores and above is advised to comply with the Clause 49 of the Listing Agreement. Since the capital of your Company is less than Rs.3 Crores, compliance of the Clause 49 of the Listing Agreement does not arise.

INFORMATION UNDER SECTION 217(1 )(E) OF THE COMPANIES ACT, 1956 READ WITH COMPANIES (DISCLOSURES OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES AND FORMING PART OF DIRECTORS REPORT.

1) CONSERVATION OF ENERGY:

The company has no activity relating to Conservation of Energy, during the year.

2) TECHNOLOGY ABSORPTION:

There are no technical collaboration agreements under implimentation and the company is focusing on inhouse research and development.

3) FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Company did not have any foreign exchange earnings or outgo during the year.

DIRECTORS'' RESPONSIBILITY STATEMENT:

In terms of provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm.

1. That in the preparation of the Annual accounts, for the financial year ended 31st March, 2013 the applicable accounting standards had been followed along with proper explanations relating to material departures.

2. 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 the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period.

3. 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 fraud and other irregularities; and

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

COMPLIANCE CERTIRCATE:

Compliance Certificate as required under provision to Sub-section (1) of Section 383A of Companies Act, 1956 has been obtained from the company secretary, M/s. Lakshmi Subramanian & associates, Chennai.

PERSONNEL:

Particulars of Employee pursuant to Section 217(2A) of the Companies Act, 1956 are not applicable since there was no person was employed in the company during the year who was in receipt of remuneration in excess of the limits specified herein during the period under review.

ACKNOWLEDGEMENTS:

Your Directors would like to express their appreciation for the assistance and continued co-operation extended by the Banks, Government Authorities and Clients during the period under review. Your Directors wish to place on record their deep sense of appreciation for the devotion and sense of commitment shown by the employees at all the level and acknowledge their contribution for its success.

By order of the Board,

KLK Electrical Limited For KLK Electrical Ltd

Old No.2,New No.3. 1st Main road

Seethammal Colony, R. Ravi kumar Rao

Teynampet Chennai-600 018 Whole Time Director


Mar 31, 2012

TO THE MEMBERS

Dear Members,

The Directors have pleasure in presenting the 31st Annual Report of the Company with audited accounts for the year ended 31st March, 2012.

FINANCIAL RESULTS

Particulars 31.03.2011 31.03.2012 (Rs. In Lakhs) (Rs. In Lakhs)

Sales 34.95 24.09

Other Income Nil Nil

Profit/(Loss) Before Dep. & Tax (18.81) (9.71)

Depreciation Nil 0.25

Profit/(Loss) After depreciation (18.81) (9.96)

Provision for Taxation Nil Nil

Profit/(Loss) aftertax (18.81) (9.96)

Add: Balance of Loss B/F (76.86) (66.90)

(Loss) BalanceC/F to next year (95.67) (76.86)

OPERATIONS:

The Company achieved turnover of Rs.34.95 Lakhs (Previous Year Rs. 25.28 Lakhs). During the year 2011-12, the Company had allotted 14,00,000 equity shares of the company on preferential basis to publicat a premium Your Directors are hopeful that the activities of the Company would improve during the Current financial year.

DEPOSITS:

The Company has not invited / received any fixed deposits during the year under review as per section 58A of the Companies Act, 1956 read with Companies (Acceptance of Deposits) Rules, 1975.

DIVIDEND:

Your directors have not recommended any dividend for the financial year ended 31s' March, 2012 to the members due to Loss.

DIRECTORS:

On October31, 2011, Mr. Brijmohan Mandala and Mr. Rajendra V. Naniwadekar were appointed as additional directors of the company and they hold office till the ensuing annual general meeting of the company. Both Mr. Brij Mohan Mandala and Mr. Rajendra V.Naniwadekar are eligible for appointment as directors of the of the company. On 14-08-12 Mr. J.M. Menezes resigned as a director of the of the company. On 03-11 -12, Mr. John Thangasamy resigned as a director of the of the company. The Board placed on the record the valuable services rendered by Mr. J.M. Menezes and Mr. John Thangasamy during their tenure as directors of the company. Mr. V.Lavakumar retires by rotation at the end of this AGM and has expressed his inability to continue. The Board places on record its appreciation for the valuable services rendered by Mr.Lavakumar.

AUDITORS:

M/s. N. SUBRAMANIAN, Chartered Accountants, Chennai retire as Auditors of the Company at the conclusion of the ensuing Annual General Meeting and has expressed his inability to continue. Hence it is proposed that M/s.Chitta Associates.Chartered Accountants be appointed as the auditor's of the company until the conclusion of the next AGM.

AUDITORS REPORT:

The observations made by the auditors in their report and notes to the accounts are self-explanatory.

LISTING STATUS:

The Company's Shares are listed both in Madras and Bombay Stock Exchanges at present. Listing fees have been paid for the financial year.

CORPORATE GOVERNANCE:

Pursuant to the circular of Securities and Exchange Board of India, the Stock Exchanges have incorporated a Clause 49 in the Listing Agreement on Corporate Governance with regard to the composition of Board of Directors, Audit Committee, Remuneration of Directors, Board meeting procedures, Management, discussions and analysis about the business, redressal of shareholders' grievances and their services. According to the schedule of implementation forwarded by these Stock Exchanges, the Companies whose paid-up capital is Rs.3 Crores and above is advised to comply with the Clause 49 of the Listing Agreement. Since the capital of your Company is less than Rs.3 Crores, compliance of the Clause 49 of the Listing Agreement does not arise.

INFORMATION UNDER SECTION 217(1)(E) OF THE COMPANIES ACT, 1956 READ WITH COMPANIES (DISCLOSURES OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES AND FORMING PART OF DIRECTORS REPORT.

1). CONSERVATION OF ENERGY:

The company has no activity relating to Conservation of Energy, during the year.

2). TECHNOLOGY ABSORPTION:

The Company has entered into Technical collaboration with M/s. Elin Union, Austria.

a) Technology imported: Load Break Switch and off load isolators.

b) Year of Import: Agreement 1984 extended for a further period of six years from 1999.

c) Has the technology been fully absorbed: Yes

3). FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Company did not have any foreign exchange or outgo during the year.

DIRECTORS' RESPONSIBILITY STATEMENT:

In terms of provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm.

1. That in the preparation of the Annual accounts, for the financial year ended 31st March, 2010 the applicable accounting standards had been followed along with proper explanations relating to material departures.

2. That the Directors had 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 and of the profit of the Company for that period.

3. 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 fraud and other irregularities; and

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

COMPLIANCE CERTIFICATE:

Compliance Certificate as required under provision to Sub-section (1) of Section 383A of Companies Act, 1956 is annexed hereto.

PERSONNEL:

Particulars of Employees pursuant to Section 217{2A) of the Companies Act, 1956 are not applicable since none of the employees are in receipt of remuneration in excess of the limits specified herein during the period under review.

ACKNOWLEDGEMENTS:

Your Directors would like to express their greatful appreciation for the assistance and continued co-operation extended by the Banks, Government Authorities and Clients during the period under review. Your Directors wish to place on record their deep sense of appreciation for the devotion and sense of commitment shown by the employees at all the level and acknowledge their contribution for its success

For and on behalf of the Board,

Place:Chennai (Rajendra V.Naniwadekar)

(V.Lavakumar)

Date :03-11-12 DIRECTOR CHAIRMAN


Mar 31, 2010

The Directors have great pleasure in presenting the 29th Annual Report of the Company with audited accounts for the year ended 31st March, 2010.

FINANCIAL RESULTS.

Particulars 31.03.2010 31.03.2009

(Rs. In Lakhs) (Rs. In Lakhs)

Sales 90.84 8.83

Service Charges - 16.99

Other Income - -

Profit/(Loss) Before Dep. & Tax 2.42 0.08

Depreciation 0.30 0.37

Profit/ (Loss) After depreciation 2.12 (-)0.29

Provision for Taxation NIL NIL

Profit After tax 2.12 NIL

Investment allowance reserve NIL NIL

Transferred to General Reserve NIL NIL

Provision for divided NIL NIL

the (Loss) Balance C/F to next year (66.90) (69.02)

OPERATIONS:

The Company achieved turnover of Rs.90.84 Lakhs (Previous Year Rs. 25..82 Lakhs). Your Directors are hopeful that the activities of the Company would improve during the Current financial year.

DEPOSITS:

The Company has not invited / received any fixed deposits during the year under review as per section 58A of the Companies Act, 1956 read wth Companies (Acceptance of Deposits) Rules, 1975.

DIVIDEND:

Your directors have not recommended any dividend for the financial year ended 31st March, 2010 to the members due to Loss.

DIRECTORS:

In accordance with the provisions of the Companies Act, 1956, and the Companys Articles of Association Shri. J. MENEZES, Director is due to retire by rotation and is eligible for re-appointment.

On 15th May, 2010 Shri. V. MANI was appointed as Additional Director on the Board. Shri. V. LAVAKUMAR is to be appointed as chairman and Shri. M. MANI to be appointed as Managing Director.

The appointment of the aforesaid Additional Director, Chairman and Managing Director shall be put forth at the ensuing Annual General Meeting for the Members approval.

AUDITORS:

M/s. N. SUBRAMANIAN, Chartered Accountants, Chennai retire as Auditors of the Company at the conclusion of the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept the office of Auditors, if re-appointment.

AUDITORS REPORT:

The observations made by the auditors in their report and notes to the accounts are self-explanatory.

LISTING STATUS:

The Companys Shares are listed both in Chennai and Bombay Stock Exchanges at present. Listing fees have been paid for the financial year.

CORPORATE GOVERNANCE:

Pursuant to the circular of Securities and Exchange Board of India, the Stock Exchanges have incorporated a Clause 49 in the Listing Agreement on Corporate Governance with regard to the composition of Board of Directors, Audit Committee, Remuneration of Directors, Board meeting procedures, Management, discussions and analysis about the business, redressal of shareholders grievances and their services. According to the schedule of implementation forwarded by these Stock Exchanges, the Companies whose paid-up capital is Rs.3 Crores and above is advised to comply with the Clause 49 of the Listing Agreement. Since the capital of your Company is less than Rs.3 Crores, compliance of the Clause 49 of the Listing Agreement does not arise.

INFORMATION UNDER SECTION 217(1)(E) OF THE COMPANIES ACT, 1956 READ WITH COMPANIES (DISCLOSURES OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES AND FORMING PART OF DIRECTORS REPORT.

1). CONSERVATION OF ENERGY:

The company has no activity relating to Conservation of Energy, during the year.

2). TECHNOLOGY ABSORPTION:

The Company has entered into Technical collaboration with M/s. Elin Union, Austria.

a) Technology imported: Load Break Switch and off load isolators.

b) Year of Import: Agreement 1984 extended for a further period of six years from 1999.

DIRECTORS RESPONSIBILITY STATEMENT:

In terms of provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm.

1. That in the preparation of the Annual accounts, for the financial year ended 31st March, 2010 the applicable accounting standards had been followed along with proper explanations relating to material departures.

2. That the Directors had 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 and of the profit of the Company for that period.

3. 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 fraud and other irregularities; and

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

COMPLIANCE CERTIFICATE:

Compliance Certificate as required under provision to Sub-section (1) of Section 383A of Companies Act, 1956 is annexed hereto.

PERSONNEL:

Particulars of Employees pursuant to Section 217{2A) of the Companies Act, 1956 are not applicable since none of the employees are in receipt of remuneration in excess of the limits specified herein during the period under review.

ACKNOWLEDGEMENTS:



Your Directors would like to express their greatful appreciation for the assistance and continued co-operation extended by the Banks, Government Authorities and Clients during the period under review. Your Directors wish to place on record their deep sense of appreciation for the devotion and sense of commitment shown by the employees at all the level and acknowledge their contribution for its success



For and on behalf of the Board,

Place:Chennai (J.M. MENEZES (V. LAVAKUMAR)

Date :28-08-10 DIRECTOR CHAIRMAN AND

MANAGING DIRECTOR

 
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