Home  »  Company  »  Linear Industries  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Linear Industries Ltd.

Mar 31, 2014

The Members,

The directors have pleasure in presenting their Twenty seventh Annual Report with the Audited accounts for the year ended on 31st March, 2014

FINANCIAL RESULTS:

Particulars Current year Previous year Ended on Ended on 31.03.2014 31.03.2013 (Rs. in Lacs) (Rs. in Lacs)

Sales & Other income 12.34 13.22

Operating Profit Before Depreciation 4.79 5.43

Less: Depreciation 0.00 0.00

Profit Before Tax 4.79 5.43

Less: Provision for Tax 0.92 1.05

Profit after Tax 3.87 4.38

Less/Add: I.T Provision for earlier years 0.18 0.00

Balance B/F from previous year 23.87 19.49

Balance carried to Balance Sheet 27.92 23.87

OPERATIONS:

The working of the Company for the year was satisfactory.

DIVIDEND:

In view of in-adequacy of distributable profit and present requirement for the working capital funds, the directors do not recommend any dividend for the year.

DIRECTORS:

In accordance with the provisions of Articles of Association of the Company Mr. Shashank Shah (DIN 00604038) retires by rotation, and being eligible, for re-appointment have offered himself for re-appointment.

AUDITORS:

The Company''s Auditors M/S Jain Bafna and Co., chartered Accountants, retires at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. Members are requested to appoint Auditors from the conclusion of this meeting to hold office from the conclusion of this Meeting until the conclusion of the Thirtieth Annual General Meeting (AGM) of the company subject to ratification of the appointment at every AGM and fix their remuneration. The observation made in the Auditors report are self-explanatory.

DIRECTORS RESPONSIBILITY STATEMENT:

Your Directors confirm that:

i. In the preparation of Annual Accounts, the applicable accounting standards have been followed with proper disclosure of any departures.

ii. 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 true and fair view of the state of affairs of the Company as on March 31, 2014 and of the profit of the company for the year ending March 31, 2014

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, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. The Directors have prepared the annual accounts on a going concern basis.

SECRETARIAL COMPLIANCE CERTIFICATE:

Your directors confirm that the Company has complied with all the applicable provisions of the Companies Act, 2013 and has obtained the requisite certificate pursuant to Companies (Compliance certificate) rules 2002.

Particulars of employees:

There were no employees who were in respect of remuneration which is in aggregate not less than Rs. 60,00,000/- per annum, if employed throughout the year or Rs. 5,00,000/- per month, if employed for part of the year.

OTHER INFORMATION:

As required under section 217(1)(e) of the companies Act, 1956 read with rule 2 of the Companies (disclosure of particulars in the report of Board of Directors) rules 1988, the particulars relating to the conservation to energy, technology absorption. Foreign Exchange earnings and outgo is NIL.

ACKNOWLEDGEMENT:

The directors would like to express their gratitude to the financial institutions, and the Company''s bankers for their continued Co-operation. Finally the Directors would like to acknowledge their appreciation, to all the employees of the Company for their sincere and dedicated services.

Place: Mumbai For and on behalf of the Board Date: 31st May,2014 -->


Mar 31, 2011

The Members,

The directors have pleasure in presenting their Twenty Fourth Annual Report with the Audited Accounts for the year ended on 31st March, 2011

FINANCIAL RESULTS'.

Current Year Previous Year Ended on Ended on 31.03.2011 31.03.2010 (Rs. In Lacs) (Rs. In Lacs)

Sales & Other Income 8.49 11.05

Operating profit before depreciation 1.33 0.89

Less: Depreciation 0.00 0.02

Profit before Tax 1.33 0.87

Less: Provision for Tax 0.42 0.50

Profit after tax 0.91 0.37

Less/Add.l.T Provision for earlier years 0.06 0.27

Balance B/F from Previous year 17.73 17.09

Balance carried to Balance Sheet 18.70 17.73

OPERATIONS :

The working of the Company for the year was satisfactory

DIVIDEND :

In view of in-adequacy of distributable profit and present requirement for.the working capital funds, the directors do not recommend any dividend for the year.

DIRECTORS:

In accordance with the provisions of Articles of Association of the company Mr. Aditya Shah retire by rotation, and being eligible, for re-appointment have offered himself for re-appointment.

AUDITORS:

The Company's Auditors M/S Jain Bafna & Co., Chartered Accountants, retire at the ensuing Annual General Meeting and being eligible offer themselves for reappointment. Members are requested to appoint Auditors from the conclusion of this meeting until the conclusion of the next Annual General Meeting and fix their remuneration. The observations made in the Auditor's Report are self-explanatory.

DIRECTOR'S RESPONSIBILITY STATEMENT:

Your directors confirm that:

1. In the preparation of the annual accounts, applicable accounting standards have been followed, with proper disclosure of' any departures,

2. The accounting policies are consistently applied and reasonable, prudent judgement and estimates are made so as to give a true and fair view of the state of affairs of the Company at the end of the financial year,

3. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities,

4. That the directors have prepared the accounts on a going concern basis.

SECRETARIAL COMPLIANCE CERTIFICATE:

Your directors confirm that the Company has complied with all the applicable provisions of the Companies Act, 1956 and has obtained the requisite certificate pursuant to Companies (Compliance Certificate) Rules 2002, which is annexed.

PARTICULARS OF EMPLOYEES

There were no employees who were in receipt of remuneration which is in aggregate not less than Rs.24,00,000/- per annum, if employed throughout the year or Rs.2,00,000/- per month, if employed for part of the year.

OTHER INFORMATION:

As required under section 217(1 )(e) of the Companies Act, 1956 read with rule 2 of the Companies (Disclosure of particulars in the Report of the Board of Directors) Rules 1988, the particulars relating to the conservation to energy, technology absorption. Foreign Exchange earnings and outgo is NIL.

ACKNOWLEDGEMENT:

The Directors would like to express their gratitude to the financial institutions, and the Company's bankers for their continued Co-operation. Finally the directors would like to acknowledge their appreciation, to all the employees of the Company for their sincere and dedicated services.

For and on behalf of the Board.

(Ashok Shah) Chairman

Mumbai: Dated: 31/05/2011




Mar 31, 2010

The directors have pleasure in presenting their Twenty Third Annual Report with the Audited Accounts for the year ended on 31st March, 2010

FINANCIAL RESULTS:

Current Year Previous Year

Ended on ended on

31.03.2010 31.03.2009

(Rs. In Lacs) (Rs. In Lacs)



Sales & Other Income 11.05 8.04

Operating profit before depreciation 0.89 0.52

Less : Depreciation 0.02 0.02

Profit before Tax 0.87 0.50

Less: Provision for Tax 0.50 0.06

Profit after tax 0.37 0.44

Less/Add:I.T Provision for earlier years 0.27 1.42

Balance B/F from Previous year 17.09 18.07

Balance carried to Balance Sheet 17.73 17.09



OPERATIONS : The working of the Company for the year was satisfactory.

DIVIDEND: In view of in-adequacy of distributable profit and present requirement for the working capital funds, the directors do not recommend any dividend for the year.

DIRECTORS:

In accordance with the provisions of Articles of Association of the company Mr. Shashank Shah retire by rotation, and being eligible, for re-appointment have offered himself for re-appointment.

AUDITORS:

The Companys Auditors M/S Jain Bafna & Co., Chartered Accountants, retire at the ensuing Annual General Meeting and being eligible offer themselves for reappointment. Members are requested to appoint Auditors from the conclusion of this meeting until the conclusion of the next Annua) General Meeting and fix their remuneration. The observations made in the Auditors Report are self-explanatory.

DIRECTORS RESPONSIBILITY STATEMENT:

Your directors confirm that:

1. In the preparation of the annual accounts, applicable accounting standards have been followed, with proper disclosure of any departures,

2. The accounting policies are consistently applied and reasonable, prudent judgement and estimates are made so as to give a true and fair view of the state of affairs of the Company at the end of the financial year,

3. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities,

4. That the directors have prepared the accounts on a going concern basis.

SECRETARIAL COMPLIANCE CERTIFICATE:

Your directors confirm that the Company has complied with all the applicable provisions of the Companies Act, 1956 and has obtained the requisite certificate pursuant to Companies (Compliance Certificate) Rules 2002.

PARTICULARS OF EMPLOYEES

There were no employees who were in receipt of remuneration which is in aggregate not less than Rs.24,00,000/- per annum, if employed throughout the year or Rs.2,00,000/- per month, it employed for part of the year.

OTHER INFORMATION: ,

As required under section 217(1 )(e) of the Companies Act, 1956 read with rule 2 of the Companies (Disclosure of particulars in the Report of the Board of Directors) Rules 1988, the particulars relating to the conservation to energy, technology absorption. Foreign Exchange earnings and outgo is NIL.

ACKNOWLEDGEMENT:

The Directors would like to express their gratitude to the financial institutions, and the Companys bankers for their continued Co-operation. Finally the directors would like to acknowledge their appreciation, to all the employees of the Company for their sincere and dedicated services.



For and on behalf of the Board.



(Ashok Shah)

Chairman

Mumbai : Dated : 31/05/2010


Mar 31, 2009

The directors have pleasure in presenting their Twenty Second Annual Report with the Audited Accounts for the year ended on 31st March, 2009

FINANCIAL RESULTS:

Current Year Previous Year Ended on ended on 31.03.2009 31.03.2008 (Rs. in Lacs) (Rs. In Lacs)

Sales & Other Income 8.04 10.99

Operating profit before depreciation 0.52 1.67

Less : Depreciation 0.02 0.02

Profit before Tax 0.50 1.65

Less: Provision for Tax 0.06 0.23

Profit after tax. 0.44 1.42

Less:I.T Provision for earlier years 1.42 0.00

Balance B/F from Previous year 18.07 16.65

Balance carried to Balance Sheet 17.09 18.07

OPERATIONS :

The working of the Company for the year was satisfactory.

DIVIDEND :

In view of in-adequacy of distributable profit and present requirement for the working capital funds, the directors do not recommend any dividend for the year.

DIRECTORS:

In accordance with the provisions of Articles of Association of the company Mr. Aditya Shah retire by rotation, and being eligible, for re-appointment have offered himself for re-appointment.

AUDITORS:

The Companys Auditors M/S Jain Baf na & Co., Chartered Accountants, retire at the ensuing Annual General Meeting and being eligible offer themselves for reappointment. Members are requested to appoint Auditors from the conclusion of this meeting until the conclusion of the. next Annual General Meeting and fix their remuneration. The observations made in the Auditors Report are self-explanatory.

DIRECTORS RESPONSIBILITY STATEMENT: Your directors confirm that:

1. In the preparation of the annual accounts, applicable accounting standards have been followed, with proper disclosure of any departures,

2. The accounting policies are consistently applied and reasonable, prudent judgement and estimates are made so as to give a true and fair view of the state of affairs of the Company at the end of the financial year,

3. That the directors have taken proper and sufficient care for the maintenanceof adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities,

4. That the directors have prepared the accounts on a going concern basis.

SECRETARIAL COMPLIANCE CERTIFICATE:

Your directors confirm that the Company has complied with, ait the applicable provisions of the Companies Act, 1956 and has obtained the requisite certificate pursuant to Companies (Compliance Certificate) Rules 2002.

PARTICULARS OF EMPLOYEES:

¦There were no employees who were in receipt of remuneration which is in aggregate not less than Rs.24,00,000/- per annum, if employed throughput the year or Rs.2,00,000/- per month, if employed for part of the year. ,

OTHER INFORMATION:

As required under section 217( 1 )(e) of the Companies Act, 1956 read with rule 2 of the Companies (Disclosure of particulars in the Report of the Board of Directors) Rules 1988, the particulars ^ relating to the conservation to energy, technology absorption. Foreign Exchange earnings and outgo is NIL.

ACKNOWLEDGEMENT:

The Directors would like to express their gratitude to the financial institutions, and the Companys bankers tor their continued Co-operation. Finally the directors would like to acknowledge their appreciation, to all the employees of the Company for their sincere and dedicated services.

For and on behalf of the Board.

(Ashok Shah) Chairman Mumbak Dated: 30/06/2009



 
Subscribe now to get personal finance updates in your inbox!