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Directors Report of Madhuban Constructions Ltd.

Mar 31, 2015

The Directors are pleased to present the 7th Directors' Report of your Company together with Audited Statement of Accounts and the Auditors' Report of your Company for the financial year ended 31st March 2015.

FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The highlights of financial results of your Company are as follows:

Particulars For the Financial year ended as For the Financial ended as years on 31st March, 2015 on 31st March, 2014

Income 18,525,473 13,281,216

Less: Expenditure (17,907,473) (12,872,074)

Profit/(Loss) before taxation 618,000 409,142

Less: Tax (178200) (138712)

Net profit/ (Loss) after taxation 439,800 270,430

During the year under review, the Company's income is Rs. 18,525,473 as against income of Rs. 13,281,216 in 2013-14. The net profit after tax during the year has been Rs. 439,800 as against the net profit of Rs. 270,430 in the previous year. The raise in income/profits was due to the increase in interest income.

STATE OF COMPANY AFFAIRS:

During the year under review, there is no adverse action against the business operations of the Company

CHANGE IN THE NATURE OF BUSINESS

During the year, the Company has not changed its nature of business.

MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

There have been no material changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report.

DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS

The Company has a formal system of internal control testing which examines both the design effectiveness and operational effectiveness to ensure reliability of financial and operational information and all statutory / regulatory compliances. The Company has a strong monitoring and reporting process resulting in financial discipline and accountability.

DIVIDEND

The Directors have not recommended any dividend for the financial year 2014-15 for growth requirement and expansion of the business.

RESERVES

The Company proposes to transfer an amount of Rs. 815,877 to the General Reserves.

DEPOSITS

The Company has not accepted deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and The Companies (Acceptance of Deposits) Rules, 2014.

NAME OF THE COMPANIES WHICH HAVE BEEN BECOME OR CEASED TO BE ITS SUBSIDIARIES AND ASSOCIATE COMPANIES DURING THE YEAR

During the Financial Year 2014-15, No Company had became or ceased to be its Subsidiaries and associate companies.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As required under Clause 42 of the Listing Agreement with the Stock Exchanges, the Management Discussion and Analysis is annexed to Directors' Report.

RISK MANAGEMENT

The Company has laid down the procedures to inform to the Board about the risk assessment and minimization procedures and the Board has formulated Risk management policy to ensure that the Board, its Audit Committee and its Executive Management should collectively identify the risks impacting the Company's business and document their process of risk identification, risk minimization, risk optimization as a part of a risk management policy/ strategy.

The common risks inter alia are: Regulations, Credit Risk, Foreign Exchange and Interest Risk, Competition, Business Risk, Technology Obsolescence, Investments, Retention of Talent and Expansion of Facilities etc. Business risk, inter-alia, further includes financial risk, political risk, legal risk, etc. The Board reviews the risk trend, exposure and potential impact analysis and prepares risk mitigation plans, if necessary.

PARTICULARS OF EMPLOYEES AND OTHER DISCLOSURE

The prescribed particulars of Employees required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed herewith as Annexure to this Report.

The information required pursuant to Section 197(12) read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of Employees of the Company, will be provided on request. In terms of Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the information on employees particulars mentioned in rule 5(2) of the said rule which is available for inspection by the Members at the Registered Office of the Company during the business hours on working days of the Company upto the date of ensuing Annual General Meeting. If any Member is interest in inspecting the same, such Member may write to the Company in advance.

STATUTORY AUDITORS

During the year under review, the Board of Directors in its meeting held on 24th January, 2015 appointed M/s. Gaurav Varshney & Co., Chartered Accountants as the statutory auditor of the Company for the Financial year 2014-15.

M/s. Gaurav Varshney & Co., Chartered Accountants have expressed their willingness to continue for a term of 5 consecutive years from the conclusion of the ensuing Annual General Meeting till conclusion of 12th AGM subject to ratification by shareholders at every Annual General Meeting.

The Company has received a letter from them to the effect that their appointment if made, would be within the limits as prescribed under Sec 141 of the Companies Act, 2013. Therefore, the directors recommend their appointment in the ensuing Annual General Meeting.

AUDITORS' REPORT

The Notes on Financial Statements referred to in the Auditors' Report are self-explanatory and therefore, in the opinion of the Directors, do not call for further comments.

CORPORATE GOVERNANCE CERTIFICATE

A report on Corporate Governance along with a certificate from the Auditors regarding the compliances with conditions of Corporate Governance in terms of Clause 42 of the Listing Agreement is annexed to this report.

EXTRACT OF THE ANNUAL RETURN

The extract of the annual return in form no. MGT - 9 has been annexed to the Report as Annexure.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars as required under the provisions of Section 314(3)(m) of the Companies Act, 2013 read with Rule 8(3) of The Companies (Accounts) Rules, 2014 in respect of Conservation of Energy and Technology Absorption have not been furnished considering the nature of activities undertaken by the Company during the year under review.

There was no foreign exchange & outgo during the financial year under review.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

During the year under review, the Company is not required to comply with the provisions related to Corporate Social Responsibility on the basis of its financial statement.

DIRECTORS:

A) CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year under review, there is no change in the Directors of the Company and Ms. Dhiarya Arora, Company Secretary of the Company has resigned w.e.f 30th October, 2014.

B) DECLARATION BY AN INDEPENDENT DIRECTOR(S) AND RE- APPOINTMENT, IF ANY

All Independent Directors have given declaration that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, and Listing Agreement.

C) FORMAL ANNUAL EVALUATION

Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an Annual Performance evaluation of its own performance, the Directors individually as well as the evaluation of the working of its various Committees. A separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board, who were evaluated on parameters such as level of engagement and contribution, independence of judgment, safeguarding the interest of the Company and its minority shareholders etc. The performance evaluation of the Independent Directors was carried out by the entire Board excluding the Directors being evaluated.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS

During the year Nine Board Meetings were convened and held. The details of which have been given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

FAMILIARIZATION PROGRAMME

The Company at its various meetings held during the Financial year 2014 -15 had familiarize the Independent Directors with regard to the roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, the Business models of the Company etc. The Independent Directors have been provided with necessary documents, reports and internal policies to familiarize then with the Company's policies, procedures and practices.

Periodic presentations are made to the Board and Board Committee meeting on Business and performance updates of the Company, Business strategy and risks involved.

Quarterly updates on relevant statutory changes and judicial pronouncements and encompassing important amendments are briefed to the Directors.

COMPOSITION AND MEETING OF AUDIT COMMITTEE

The details about Composition and meeting of Audit Committee have been given in the Corporate Governance report.

COMPOSITION AND MEETING OF NOMINATION AND REMUNERATION COMMITTEE

The details about Composition and meeting of Nomination and Remuneration Committee have been given in the Corporate Governance report.

COMPOSITION AND MEETING OF STAKEHOLDERS RELATIONSHIP COMMITTEE

The details about Composition and meeting of Stakeholders Relationship Committee have been given in the Corporate Governance report.

AUDITORS' REPORT

The Notes on Financial Statements referred to in the Auditors' Report are self-explanatory and therefore, in the opinion of the Directors, do not call for further comments.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

As per the provision of Section 177 (9) of the Companies Act, 2013, the Company is required to establish an effective Vigil Mechanism for Directors and Employees to report genuine concerns. In line with this the Company has framed a Vigil Mechanism Policy through which the Directors and Employees may report concerns about unethical behavior, actual or suspected fraud or violation of the Company's Code of Conduct & Ethics without fear of reprisal. The Employees and Directors may report to the Compliance Officer and have direct access to the Chairman of the Audit Committee. The Whistle Blower Policy is placed on the website of the Company.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place an Anti Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013. All women employees (permanent, contractual, temporary and trainee) are covered under this Policy.

The following is a summary of Sexual Harassment complaints received and disposed off during the year:

a. No. of Complaints received: 0

b. No. of Complaints disposed off: 0

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

During the year under review the Company, the Company has not provided any Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The Company had not entered into any contracts or arrangements with the related parties as referred to in sub- section (1) of section 188 of the Companies Act, 2013 during the Financial Year 2014-15.

MANAGERIAL REMUNERATION:

Provisions relating to Managerial Remuneration as per Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 The Board have on the recommendation of the Nomination & Remuneration Committee framed a Policy for Selection and appointment of Directors, Senior management and their Remuneration.

CODE OF CONDUCT:

The Company has formulated and implemented a Code of Conduct for Directors and Senior Management of the Company. Requisite annual affirmations of compliance with the Code have been made by the Directors and Senior Management of the Company. A declaration signed to this effect by Mr. Krishan Kant Bharti, Whole Time Director has been given in the Annual Report. The Code of Conduct is posted on the Company's website www.madhubancon.com.

SECRETARIAL AUDIT REPORT AND EXPLANATION TO THE REPORT

Ms. Urvashi Aggarwal & Co., Practicing Company Secretary was appointed to conduct Secretarial Audit of the Company for the Financial Year 2014-15 as required under section 204 of the Companies Act, 2013 and the rules there under. The Secretarial Audit report for the financial year 2014-15 forms part of the annual report to the Boards Report.

Management Reply to the Qualification

Appropriate steps are being taken to comply with the incidence.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE

No significant and material orders have been passed by the regulators or courts or tribunals, impacting the going concern status and company's operations in future.

DIRECTORS' RESPONSIBILITY STATEMENT

The Directors' Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state that -

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) 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 and loss of the company for that period;

(c) 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 the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis; and

(e) The directors, in the case of a listed company, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

(f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

HUMAN RESOURCES INDUSTRIAL RELATIONS

The takes pride in the commitment, competence and dedication shown by its employees in all areas of Business.

The Company is committed to nurturing, enhancing and retaining top talent through superior Learning and Organizational Development. This is a critical pillar to support the Organization's growth and its sustainability in the long run.

Acknowledgements

Your Directors place on record their gratitude for the continuing support of Shareholders, employees, bankers and Business associates at all levels.

For and on behalf of board of

Madhuban Constructions Limited

Dated: 24/08/2015

Place: New Delhi

Sd/- Sd/-

Krishna Kant Bharti Geeta Bharti

Whole Time Director Director

DIN No: 03466142 DIN No.: 06797301


Mar 31, 2014

Dear Members,

The Directors have great pleasure in presenting the 6th Annual Report together with the Audited Accounts of the Company for the year ended at 31st March, 2014.

FINANCIAL RESULTS

The summarized performance of the Company for the years 2013-14 and 2012-13 is given below:

(Rupees in Lacs)

Particulars For Financial Year Ended

31st March, 2014 31st March, 2013

Total Income 13281216 5590410.00

Total Expenditure 12872074 5473979.79

Profit before Tax 409142 116430.21

Less: Tax Expense 138712 26643.00 Profit / (Loss) After Tax 270430 89787.21

DIRECTORS

Mr. Subhash Chander and Mr. Dharmendra who were co-opted as Additional Director on the board of the company with effect from 24th January, 2014, 3rd February, 2014 respectively and who ceases to hold the office at this Annual General Meeting and in respect of whom a notice under section 160 of the Companies Act, 2013 has been received from a member along with requisite deposit proposing his candidature for the office of a Director on the Board of the Company, be and is hereby appointed as a director on the Board.

Also, Mr. Krishna Kant Bharti was appointed as an additional director by the Board of Directors in its meeting held on 15th January, 2014 and the Company has received notices under Section 160 of the Companies Act, 2013 proposing their candidature of for the office of the Director.

Mrs. Geeta Bharti who were co-opted as Additional Director on the board of the company with effect from 28th January, 2014 and who ceases to hold the office at this Annual General Meeting and in respect of whom a notice under section 160 of the Companies Act, 2013 has been received from a member along with requisite deposit proposing his candidature for the office of a Director on the Board of the Company, be and is hereby appointed as a director on the Board, liable to retire by rotation.

INDEPENDENT DIRECTOR

Pursuant to Section 149 of the Companies Act, 20i3(new act) read with the Rules made thereunder, the Independent Directors shall hold office for a period of upto 5 consecutive years and shall not be liable to retire by rotation. They may be appointed for a maximum of two consecutive terms of upto 5 years each. In terms of Presently, Mr. Subhash Chander and Mr. Dharmendra are the Independent Directors of the Company. As per their existing terms of appointment, all of them are liable to retire by rotation. However, under the new act and the Listing Agreement, they may be appointed afresh with a fixed period of upto 5 years.

The Board considered the independence of each of the above mentioned Directors in terms of Section 149 and Schedule IV to the Companies Act, 2013 and the Listing Agreement and was of the view that the proposed directors fulfill the criteria of independence as mentioned in the above provisions and can be appointed in the above provisions and can be appointed as Independent Directors. All the proposed Directors possess requisite qualifications, appropriate skills, experience and knowledge in one or more fields of finance, law management, marketing, administration, technical operations and other disciplines related to Companys business, positive attributes, already being on the Board of the Company and benefits that the Company will derive with their appointment, the Board has recommended their appointment as Independent Directors of the Company to hold office for a term of five consecutive years commencing from the date of Annual General Meeting of the Company.

FINANCIAL PERFORMANCE

During the year under review, Your Company has recorded a total income of Rs. 13281216 against profit of Rs. 89787 in the previous year.

DIVIDEND

In consideration of future prospects of the Company, Your Board of Directors has decided to plough back the profits into the business operations of the Company.

PUBLIC DEPOSIT

The Company has not accepted any deposits during the year under review.

AUDITORS

The Auditors M/s. Kakkar Bahl & Associates, Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

The Company has received undertaking from them to the effect that their appointment, if made, would be in accordance with the Act and that they are not disqualified for such re-appointment.

A Board of directors of the company has recommended their appointment in the ensuing Annual General Meeting.

ISSUE OF EQUITY SHARES

During the year under review, the Company has issued and allotted 1054500, 491500, 1390500, 1065000, 3924000 and 1328500 equity shares of Rs, 10/- each on 07.02.2014, 09.02.2014, 13.02.2014,15.02.2014, 17.02.2014 and 19.02.2014 respectively and accordingly, the Equity Paid up Share capital stand increased to Rs. 120640000/- (Rupees Twelve Crore six lac fourty thousand only) consisting 12064000 equity shares of Rs. 10/- each.

AUDITOR''S REPORT

The observation made in the Auditors'' Report read together with relevant notes thereon are self explanatory and hence, do not call for any further comments under Section 217 of the Companies Act, 1956.

INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all levels. CONVERSION OF THE COMPANY FROM "PRIVATE LIMITED" TO "PUBLIC LIMITED"

During the year 2013-2014, Out Company was converted in to a Public Limited Company and Consequently the name was changed to " Madhuban Constructions Private Limited" to "Madhuban Constructions Limited" vide fresh certificate of incorporation dated 22nd January, 2014, issued by the Registrar of Companies, National Capital

Territory of Delhi & Haryana.

LISTING OF SHARES OF THE COMPANY

During the year under review, Your Company has applied for listing of its equity shares on the ITP platform of BSE Limited and got listed on BSE limited vide notice dated 24th July, 2014.

SUBSIDARY COMPANIES

The Company does not have any subsidiary.

CONSOLIDATED FINANCIAL STATEMENTS

Since there is no subsidiary of the Company at present, hence no consolidated financial statements have been prepared.

DIRECTORS RESPONSIBILITY STATEMENT

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

a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.

b) 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 as at 31st March, 2014 and of the Profit or Loss of the company for the year under the review.

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

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

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO

The provisions of 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 are not applicable to the Company. Therefore, the information relating to conservation of energy or technology absorption etc. is not given. There has been no foreign exchange earnings and outgo during the year under Report.

PARTICULARS OF EMPLOYEES

The provisions of section 217(2A) of the Companies Act, 1956 are not applicable as no Employee was in receipt of remuneration to the extent laid down therein

PERSONNEL

The Management-Employees relations remained very cordial throughout the year. Your Directors wish to place on record their appreciation of sincere and devoted services rendered by all the workers and staff at all levels.

CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORTS

The Corporate Governance and Management Discussion & Analysis Report, which form an integral part of this Report, are set out as separate Annexure, together with the Certificate from the auditors of the Company regarding compliance with the requirements of Corporate Governance as stipulated in Clause 42 of the Listing Agreement.

ACKNOWLEDGEMENTS

Your Company and its Directors wish to extend their sincerest thanks to the Members of the Company, Bankers, State Government, Local Bodies, Customers, Suppliers, Executives, Staff and workers at all levels for their continuous co- operation and assistance.

By Order of the Board Madhuban Construction Limited

Sd/- Date: 25/08/ 2014 Krishna Kant Bharti Place: New Delhi Chairman DIN No: 03466142


Mar 31, 2013

The Members

M/S MADHUBAN CONSTRUCTIONS PRIVATE LIMITED

The Board of Directors are pleasure the Annual Report of the Company for the financial year ended 31st March 2013.

1. FINANCIAL HIGHLIGHTS :

Particulars Current Yr. 31.03.2013 Previous Yr. 31.03.2012 (Rs.) (Rs.)

Total Income/Loss 5,590,410.00 1,217,000.00

Less: Total Expenses 5,473,979.79 1,090,646.94

Profit Before Tax 116,430.21 126,353.06

Profit/Loss after Tax 89,787.21 87,310.06

2. FINANCIAL PERFORMANCE

During the year under review, Your Company has recorded a total income of Rs. 89787 against profit of Rs. 87310 in the previous year.

3. DEPOSITS:

During the year under review, Your Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975 as amended upto date.

4. AUDITORS

M/s Kakkar Bahl & Associates Chartered Accountants, retire at the ensuing annual general meeting and being eligible have given their consent to act as auditors of the company. Members are requested to consider their re-appointment as the auditors of the company.

4. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE:

Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 being not relevant/significant, are not given. There was no foreign exchange earning or outgo during the year under review.

5. DIRECTORS RESPONSIBILITY STATEMENTS

Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby confirmed:- (i) That in the preparation of the accounts for the financial year ended 31st March 2013 the applicable accounting standards have been followed along with proper explanation relating to material departures.

(ii) That 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 of the company for the year under review.

(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;

(iv) That the Directors have prepared the accounts for the financial year ended 31st March, 2013 on a going concern basis.

ACKNOWLEDGEMENT

The board wishes to express and place on records its gratitude for the faith reposed in and cooperation extended to the company by the shareholders of the company. Your directors wish to place on record their deep sense of appreciation for the devoted and sincere services of the executives, staff and workers of the company for its success.

By order of the Board of Directors MADHUBAN CONSTRUCTIONS PRIVATE LIMITED

Place: New Delhi Sd/- Date: 28/08/2013 C P Bhardwaj Director Din:01735340


Mar 31, 2012

The Members,

Your Directors have pleasure in presenting the Annual Report of your company together with the audited accounts, for the year ended 31st March 2012.

FINANCIAL RESULTS CURRENT YEAR

Profit/(Loss) before Depreciation & Tax : Rs 110443.33/-

Less: Depreciation : Rs 15909.73/-

Profit after Depreciation : Rs. 126353.06/- Provision for Taxation

- Normal Tax Liability : Rs. 39608.00/- - Deferred Tax Liability : Rs. (565.00)/- - FBT Profit after Tax : Rs 87310.06/- Balanced Brought Forwards : NIL

Profit (Loss) carried forwards to Balance Sheet : Rs 87310.06/-

Paid up Share Capital : Rs 2,81,00,000/-

That the company is engaged in Construction Business and trading of related items, earned total receipts to the tone of Rs. 12,17,000.00/- in its year of working and we are excepting growth in the future.

DIVIDEND

Your directors do not recommend any dividend.

FUTURE PROSPECTS

The company will continue to explore new financial products to increase the Turnover and Profitability of the Company.

PARTICULARS OF EMPLOYEES

During the year under review no employee has been drawing remuneration exceeding the limits as specified in Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

The company is not covered by schedules which require to furnish details in Form A & B as per the provisions of Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the reports of Board of Director) Rules, 1988.

PUBLIC DEPOSITS

The company has not accepted any deposit from the deposits from the public within the meaning of Section 58-A of the Companies Act, 1956 and the rules made there under.

FOREIGN EXCHANGE EARNINGS AND OUTGOES

Disclosures under the provisions of the Companies (Disclosure of particular in the report of Board of Directors) Rules, 1988 are not presently applicable to the company except;

Total Foreign Exchange Earnings and Outgo Rs Nil

Foreign Exchange Earnings/Receipts Rs Nil

Foreign Exchange Outgo Rs Nil

DIRECTORS RESPONSILIBITY STATEMENT

AS PER SECTION 217(2AA) OF THE Companies Act, 1956 your director''s states:

I. That in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

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 the state of affairs of the company at the end of the financial year and of the Profit & Loss of the company for the period.

III. That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for the safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

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

BUYBACK OF SHARES

Since no buyback has taken place during the year, no explanation is required U/s 77A (4) of the Companies Act, 1956.

DIRECTORS

As per the provision of the Memorandum and Articles of Association of the company the Directors need not liable to retire by rotation at every Annual General Meeting.

AUDITORS

M/s Ravi Bhushan & Co., Chartered Accountants, New Delhi, the Auditors of the company, retire at ensuring Annual General Meeting and being eligible, offer themselves for re- appointment.

GENERAL

The note forming part of the accounts being self-explanatory, the comments made by the auditors in their report are not required to be dealt separately.

ACKNOWLEDGEMENT

The Directors wish to place on records their deep appreciation for the valuable support received from the Shareholders of the company. For and on behalf of the Board

By order of the Board For MADHUBAN CONSTRUCTIONS PRIVATE LIMITED Sd/- Chairman C.P Bahrdwaj Place: Delhi Date: 23rd August, 2012


Mar 31, 2011

The Members,

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

FINANCIAL RESULTS CURRENT YEAR

Profit/(Loss) before Depreciation & Tax : Rs (16,543.00)/-

Less: Depreciation : Nil

Profit after Depreciation : Rs (16543.00)/-/-

Provision for Taxation

- Normal Tax Liability : NIL

- Deferred Tax Liability : NIL

- FBT

Profit after Tax : Rs (16543.00)/-

Balanced Brought Forwards : Rs(54,907)./- Profit (Loss) carried forwards to Balance Sheet : Rs (207928/-) Paid up Share Capital : Rs 100,000/- That the company is engaged in Construction Business and trading of related items, earned total receipts to the tone of Nil in its year of working and we are excepting growth in the future.

DIVIDEND

Your directors do not recommend any dividend.

FUTURE PROSPECTS

The company will continue to explore new financial products to increase the Turnover and Profitability of the Company.

PARTICULARS OF EMPLOYEES

During the year under review no employee has been drawing remuneration exceeding the limits as specified in Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules 1975.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

The company is not covered by schedules which require to furnish details in Form A & B as per the provisions of Section 217(1) (e) of the Companies Act, 1956 read with theCompanies (Disclosure of Particulars in the reports of Board of Director) Rules, 1988.

PUBLIC DEPOSITS

The company has not accepted any deposit from the deposits from the public within the meaning of Section 58-A of the Companies Act, 1956 and the rules made there under.

FOREIGN EXCHANGE EARNINGS AND OUTGOES

Disclosures under the provisions of the Companies (Disclosure of particular in the report of Board of Directors) Rules, 1988 are not presently applicable to the company except;

Total Foreign Exchange Earnings and Outgo Rs Nil

Foreign Exchange Earnings/Receipts Rs Nil

Foreign Exchange Outgo Rs Nil

DIRECTORS RESPONSILIBITY STATEMENT

AS PER SECTION 217(2AA) OF THE Companies Act, 1956 your director''s states:

I. That in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

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 the state of affairs of the company at the end of the financial year and of the Profit & Loss of the company for the period.

III. That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for the safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

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

BUYBACK OF SHARES

Since no buyback has taken place during the year, no explanation is required U/s 77A (4) of the Companies Act, 1956.

DIRECTORS

As per the provision of the Memorandum and Articles of Association of the company the Directors need not liable to retire by rotation at every Annual General Meeting.

AUDITORS

M/s Ravi Bhushan & Co., Chartered Accountants, New Delhi, the Auditors of the company, retire at ensuring Annual General Meeting and being eligible, offer themselves for re- appointment.

GENERAL

The note forming part of the accounts being self-explanatory, the comments made by the auditors in their report are not required to be dealt separately.

ACKNOWLEDGEMENT

The Directors wish to place on records their deep appreciation for the valuable support received from the Shareholders of the company. For and on behalf of the Board

For MADHUBAN CONSTRUCTIONS PRIVATE LIMITED

Sd- Sd- Chandra Prakash Bhardwaj Jai Kishan DIRECTOR DIRECTOR

Place: Delhi Date:23st August, 2011

 
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