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Directors Report of Mack Trading Company Ltd.

Mar 31, 2014

Dear Shareholders:

The Directors have pleasure in presenting the 34th ANNUAL REPORT on the business and operations of the Company and Audited Statement of Accounts of the Company for the year ended 31st March, 2014.

1) FINANCIAL RESULTS OF THE COMPANY ARE AS UNDER:

CURRENT YEAR PREVIOUS YEAR RS. RS .

Profit for the year after meeting all 11,55,123 11,47,972

charges and expenses but before provision for taxation

Less: Provision for tax - (1,25,000)

Add: B/f forward from previous 5,19,241 6,81,014 year

Add: Excess provision written 39,745 - back

Available for appropriation 17,14,109 17,03,986

Proposed Dividend (2,45,000) (2,45,000)

Corporate Dividend Tax - (39,745)

Transfer to General Reserve - (9,00,000)

Amount to be carried forward to 14,69,109 5,19,241 next year

17,14,109 17,03,986

2) DIVIDEND:

The board of Directors has recommended a dividend of Rs.1/- per share for the share of Rs.10/- each fully paid, which is equivalent to 10% of the paid up share of the company for the year ended 31st March 2014.

3) SUBSIDIARY COMPANY :

The copy of the audited accounts and Directors Report for the company''s subsidiary, Keen Investment And Leasing Limited for the year ended 31st March, 2014 is annexed. The statement required to be furnished under section 212 of the Companies Act, 1956 is also attached.

4) DIRECTORS :

In accordance with the Provisions of Section-152 of the Companies Act, 2013 and the Company''s Articles of Association Mr Pavankumar Sanwarmal, Director retire by rotation of the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment.

5) DIRECTOR RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

1. In presentation of the annual accounts, the applicable standards had been followed along with proper explanation relation to material departures;

2. 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 your Company at the end of the financial year and of the profit of your Company for that period;

3. 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 your Company and for preventing and detection fraud and other irregularities;

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

6) CONSOLIDATED FINANCIAL STATEMENTS :

In accordance with the requirements of the Accounting Standard AS - 21 prescribed by the Institute of Chartered Accountants of India, the consolidated Financial Statements of the company and its subsidiary, Keen Investment & Leasing Limited are annexed to this report.

7) AUDITORS

The Auditors, M/s A.K.Nevatia & Associates, Chartered Accountants, retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment for three consecutive years, to hold office from the conclusion of this Annual General Meeting, until the conclusion of Thirty Seventh Annual General Meeting of the Company, subject to ratification at

every Annual General Meeting. The remuneration of the Auditors shall be fixed by the board after getting shareholders consent as usual.

The Company has received confirmation from A.K.Nevatia & Associates to the effect that their re-appointment, if made, would be within the prescribed limits under Section-141(3)(g) of the Companies Act, 2013 and that they are not disqualified for re-appointment.

8) PARTICULARS OF EMPLOYEES

None of the employee of the company received remuneration in excess of the limit specified u/s 217 (2A) of the Companies Act, 1956

9) COMPLIANCE CERTIFICATE:

A compliance certificate from a Company Secretary in whole time practice, as required under section 383A of the Companies Act, 1956, regarding compliance with the provisions of the Act is annexed.

10) DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY

The details as required by Companies (Disclosure of particulars in Report of Board of Directors) Rules, 1988 for conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo are not applicable to the Company having regard to the nature of business of the Company.

11) APPRECIATION

We wish to place on record our deep and sincere appreciation for the contribution made by the workers, staff and executives to the performance of the Company.

BY ORDER OF THE BOARD OF DIRECTORS Sd/- sd/- Place : MUMBAI PAVANKUMAR SANWARMAL / RITA PAVANKUMAR/ DIRECTORS Dated : 29/05/2013


Mar 31, 2013

TO THE SHAREHOLDERS

Dear Shareholders:

The Directors have pleasure in presenting the ANNUAL REPORT on the business and operations of the Company and Audited Statement of Accounts of the Company for the year ended 31 st March, 2013.

1) FINANCIAL RESULTS OF THE COMPANY ARE AS UNDER;

CURRENT YEAR PREVIOUS YEAR RS. RS.

Profit for the year after meeting 11,47,972 41,661 all charges and expenses but before provision for taxation

Less: Provision for tax (1,25,000) -

Add: B/f forward from previous 6,81,014 12,11,842 year

Add: Excess provision written -- 2,511 back

Available for appropriation 17,03,986 12,56,014

Proposed Dividend (2,45,000) --

Corporate Dividend Tax (39,745) --

Transfer to General Reserve (9,00,000) (5,75,000)

Amount to be carried forward 5,19,241 6,81,014 to next year

17,03,986 12,56,014

2) DIVIDEND:

The board of Directors has recommended a dividend of Rs.1/- per share for the share of Rs.10/- each fully paid, which is equivalent to 10% of the paid up share of the company for the year ended 31st March 2013.

3) SUBSIDIARY COMPANY :

The copy of the audited accounts and Directors Report for the company''s subsidiary, Keen Investment And Leasing Limited for the year ended 31st March, 2013 is annexed. The statement required to be furnished under section 212 of the Companies Act, 1956 is also attached.

4) DIRECTORS :

Mrs. Rita Pavankumar retires by rotation at the ensuring Annual General Meeting and being eligible offer herself for re- appointment.

5) DIRECTOR RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

1. In presentation of the annua! accounts, the applicable standards had been followed along with proper explanation relation to material departures;

2. 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 your Company at the end of the financial year and of the profit of your Company for that period;

3. The Directors had 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 your Company and for preventing and detection fraud and other irregularities;

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

6) CONSOLIDATED FINANCIAL STATEMENTS :

In accordance with the requirements of the Accounting Standard AS - 21 prescribed by the Institute of Chartered Accountants of India, the consolidated Financial Statements of the company and its subsidiary, Keen Investment & Leasing Limited are annexed to this report.

7) AUDITORS

A.K. NEVATIA & ASSOCIATES, Chartered Accountants, retiring auditors is eligible for re- appointment and offers them for reappointment at the ensuing annual general meeting of the company.

8) PARTICULARS OF EMPLOYEES

None of the employee of the company received remuneration in excess of the limit specified u/s 217 (2A) of the Companies Act, 1956

9) COMPLIANCE CERTIFICATE:

A compliance certificate from a Company Secretary in whole time practice, as required under section 383A of the Companies Act, 1956, regarding compliance with the provisions of the Act is annexed.

10) DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY

The details as required by Companies (Disclosure of particulars in Report of Board of Directors) Rules, 1988 for conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo are not applicable to the Company having regard to the nature of business of the Company

11) APPRECIATION

We wish to place on record our deep and sincere appreciation for the contribution made by the workers, staff and executives to the performance of the Company.

BY ORDER OF THE BOARD OF DIRECTORS

PAVANKUMAR SANWARMAL / RITA PAVANKUMAR/

Place : MUMBAI

Dated : 31/05/2013 DIRECTORS


Mar 31, 2012

TO THE SHAREHOLDERS

Dear Shareholders:

The Directors have pleasure in presenting the ANNUAL REPORT on the business and operations of the Company and Audited Statement of Accounts of the Company for the year ended 31st March, 2012.

FINANCIAL RESULTS OF THE COMPANY ARE AS UNDER:

CURRENT YEAR PREVIOUS YEAR Rs. Rs.

Profit for the year after meeting 41,661 14,75,399

all charges and expenses but before provision for taxation dess: Provision for taxation

Add: B/f forward from previous 12,11,842 9,22,135 year

Add: Excess provision written 2,511 back

Available for appropriation 12,56,014 23,97,534

Proposed Dividend - 2,45,000

Corporate Dividend Tax - 40,962

Transfer to General Reserve 5,75,000 9,00,000

Amount to be carried forward 6,81,014 12,11,842 to next year

12,56,014 23,97,534

DIVIDEND:

No dividend has been declared by the company since it has made nominal profit for the current

SUBSIDIARY COMPANY :

The copy of the audited accounts and Directors Report for the company's subsidiary, Keen Investment & Leasing Limited for the year ended 31st March, 2012 are annexed. The statement required to be furnished under section 212 of the Companies Act, 1956 is also attached.

DIRECTORS :

Mr Pavankumar Sanwarmal retires by rotation at the ensuring Annual General Meeting and being eligible offer himself for re-appointment.

DIRECTOR RESPONSIBILITY STATEMENT

Pursuant to section 217(2AA) of the Companies Act, 1956 the Directors confirm that:

1. In presentation of the annual accounts, the applicable standards had been followed along with proper explanation relation to material departures;

2. 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 your Company at the end of the financial year and of the profit of your Company for that period;

3. The Directors had 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 your Company and for preventing and detection fraud and other irregularities;

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

CONSOLIDATED FINANCIAL STATEMENTS :

The with the requirements of the Accounting Standard AS - 21 prescribed by of Chartered Accountants of India, the consolidated Financial Statements of the Company and its subsidiary, Keen Investment & Leasing Limited are annexed to this report.

AUDITORS

A.K. NEVATIA & ASSOCIATES, Chartered Accountants, retiring Auditors is eligible for re- nppointment and offers them for reappointment at the ensuing annual general meeting of the company.

PARTICULARS OF EMPLOYEES

None of the employee of the company received remuneration in excess of the limit specified u/s 217 (2A) of the Companies Act, 1956 COMPLIANCE

CERTIFICATE:

A compliance certificate from a Company Secretary in wholetime practice, as required under lion 383A of the Companies Act, 1956, regarding compliance with the provisions '

DISCLOSURE OF PARTICULARS WITH RESPECT OF CONSERVATION OF ENERGY

details as required by Companies (Disclosure of particulars in Report of Board of Directors) RultS, 1988 for conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo are not applicable to the Company having regard to the nature of business of the

APPRECIATION

Wo wish to place on record our deep and sincere appreciation for the contribution made by the workers, staff and executives to the performance of the Company.

BY ORDER OF THE BOARD OF DIRECTORS

Plice : MUMBAI (pavankumar sanwarmaurita

pavankumar/vikas pavankumar)

DATE: 26/05/2012 DIRECTORS


Mar 31, 2011

The Members,

The Directors present the Annual Report together with the Audited Accounts of the Company for the year ended on 31st March, 2011.

1. FINANCIAL RESULTS : Previous Year

RS. RS.

Profit for the year after meeting all charges and expenses but before Provision for Taxation 14,75,399 12,87,736

Less a Provision for Taxation 14,73,399 12,87,736

Add : Balance brought forward from Previous Year 9,22,135 7,66,899

Available for appropriation 23,97,534 20,54,633

Proposed Dividend 2,45,000 3,67,500

Corporate Dividend Tax 40,692 -

Transfer to General Reserve 9,00,000 7,65,000

Balance in profit and Loss Account to be carried forward to next year 12,11,842 9,22,135

23,97,534 20,54,635

2. DIVIDENDS

The Directors recommend the payment of dividend at Re. 1.00 per Equity Share amounting to Rs. 2,45,000/- for the year Ended 31st March,, 2011., The Dividend will be paid within 5 days of declaration-

3. SUBSIDIARY COMPANY a

The Copy of the Audited Accounts and Directors' Report for the Company's wholly owned subsidiary, Keen Investment And Leasing Limited for the year ended 31st March, 2011 are annexed.. The Statement required to be furnished under Section 212 of the Companies Act., 1956 is also attached.

4. DIRECTORS :

Mr., Vikas Pavankumar retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for re-appointment.

5. DIRECTORS' RESPONSIBILITY STATEMENT :

Pursuant to the Section 2.17 (2AA) of the Companies Act;, 1956, the Directors confirms that in the preparation of the annual accounts, the applicable accounting standards have been followed,. Appropriate accounting policies have been selected and applied consistently and have 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 as at March 31, 2011. and of the profits of the Company for the year ended March 31, 2011, Proper and sufficient care has been taken 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 the annual accounts have been prepared on a 'going concern' basis,.

6. CONSOLIDATED FINANCIAL. STATEMENTS;

In accordance with the requirements of the Accounting Standard AS-21 prescribed by the Institute of Chartered Accountants of India,, the Consolidated Financial Statements of the Company and its wholly owned subsidiary, Keen Investment & Leasing Limited are annexed to this Report,,

7. AUDITORS ;

In view of Messrs., R., V.. SHAH & CO., Statutory Auditors of the Company for Financial Year 2010-11, expressing their unwillingness to be reappointed at the ensuing Annual General Meeting,, the members are requested to consider the appointment of Messrs, A, K, Nevatia & Associates., Chartered Accountants,, as the Statutory Auditors of the Company from the end of the ensuing Annual General Meeting.

8. PARTICULARS OF EMPLOYEES :;

The information required under Section 217 (2A) of the Companies Act., 1956,, there were no such employees as would be covered by the said Section.,

9. A Compliance Certificate from a Company Secretary in wholetime practice,, as required under Section 383A of the Companies Act., 1956 regarding compliance with the provisions of the act is annexed..

10. The Companies (Disclosure of particulars in the Report of the Board of Directors) Rules., 1988 are not applicable to the Company.,

For and on behalf of the Board



DIRECTORS Place : Mumhai Dated : 27th Man 2011

 
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