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Directors Report of Mahanivesh (India) Ltd.

Mar 31, 2015

The directors have pleasure in presenting the TWENTY FIFTH ANNUAL REPORT together with the Audited statement of accounts for the year ended 31st March. 2015.

FINANCIAL PEMORMANCE

The summarized Financial results of your Company are given in the table below.

(Figures in Rupees)

Particulars Financial Year ended

31/03/2015 31/03/2014

Net Income 8,79,981 8,08,038

Profit/(loss) before Interest, Depreeiation 16,389 50,474 & Tax (EBITDA)

Finance Charges NIL NIL

Depreciation NIL NIL

Provision for Income Tax 5,318 7,950

Net Protit/(Loss) After Tax 11,071 42,524

Profit/(Loss) brought forward from 31,23,218 30,80,694 previous year Profit/(Loss) earned to Balance Sheet 31,34,289 31,23,218

SUMMARY OF OPERATIONS

Net profits decreased during the year. Your directors are hopeful that the business will improve in the coming years. Your directors are trying their best and are continuously looking for opportunities to boost the business and profitability for the company.

CHANGE IN THE NATURE OF BUSINESS

There is no change in the nature of business of the company during the year under review.

CHANCES IN SHARE CAPITAL

Your company did not issue any shares during the year under review

DIVIDEND

Your directors do not recommend dividends for the current year.

DEPOSITS

During the year under report, the Company has not accepted any deposits from public in terms of Section 58A and/or 58AA of the Companies Act. 1956 and Chapter V of Companies Act. 2013. hence, there is no overdue deposit as on 3 C March. 201 5.

STATUTORY AUDITORS AND THEIR REPORT

The Auditors M/s Singla & Associates. Chartered Accountants, were appointed with your approval at the 20th AGM to hold such office till the conclusion of the 23rd AGM. The Board, in terms of Section 139 of the Act. on the recommendation of the Audit Committee. ahs recommended for the ratification of the Members the appointment of M/s Singla & Associates, from the conclusion of the ensuing AGM till the conclusion of the 23 AGM.

The Board, in terms of Section 142 of the Act. on the recommendation of the Audit Committee. has also recommended for the approval of the Members the remuneration of M/s Singla & Associates, for the Financial Year 2015-16.

There are no observations (including any qualification, reservation, adverse remark or disclaimer) of the Auditors in their Audit Report that may call for any explanation from the Directors, further, the notes to accounts referred to in the Auditors* Report arc self-explanatory.

SECRETARIAL AUDITORS'

Your Board, during the year, appointed M/s Tanveer Ilahi. Company Secretary, to conduct secretarial audit of the Company for the financial year ended 31st March. 2015. The Report of M/s Tanveer llahi Company Secretaries in terms of Section 204 of the Act. is provided in Annexure 1 forming part of this Report,

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirement Clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013. your Directors confirm 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, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

(1) 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.

MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis comprising an overview of the financial results, operations/ performance and the future prospects of the Company form part of this Annual Report.

HUMAN RESOURCES

Your Company treats its "human resources"" as one of its most important assets.

Your Company continuously invest in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement.

PARTICULARS OF EMPLOYEES

The Company has no employee during the year in respect oi~ which the statement pursuant to section 197 of the Companies Act. 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is required to be annexed.

INTERNAL FINANCIAL CONTROLS

A strong internal control culture is pervasive in the company. The company has documented a robust and comprehensive internal control system for the major processes to ensure reliability of financial reporting, timely feedback on achievement of operational and strategic goals. compliance with policies, procedures, laws and regulations, safeguarding of assets and economical and efficient use of resources. The formalized system of control facilitate effective compliance as per Clause 49 of the Listing Agreement

The internal Audit department continuously monitors the efficacy of internal controls with the objective of providing to the Audit Committee and the Board of Directors, an independent. objective and reasonable assurance on the adequacy and effectiveness of the organization's risk management, control and governance processes. The internal financial controls with reference to the Financial Statements are commensurate with the size and nature of business of the Company.

The scope and authority of the Internal Audit activity are approved by the Audit Committee. During the year Audit Committee met regularly to review reports submitted by Internal Audit department. All significant audit observations and follow up actions thereon were reported to Audit Committee. The Audit Committee also met the company's Statutory Auditors to ascertain their views on the financial statements, including the financial reporting systems, compliance to accounting policies and procedures, the adequacy and effectiveness of the internal controls and systems followed by the company.

RISK MANAGEMENT POLICY

In terms of the requirement of the Act. the Company has developed and implemented the Risk Management Policy and the Audit Committee of the Board reviews the same periodically.

DETAILS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, 1 ORE1CN EXCHANGE EARNINGS AND OUTGO

(a) Conservation of energy

(i) the steps taken or impact on conservation of energy Not applicable

(ii) the steps taken by the company for utilizing alternate sources of energy Not applicable

(iii) the capital investment on energy conservation equipments Not applicable

(b) Technology' absorption

(i) the efforts made towards technology absorption Not applicable

(ii) the benefits derived like product improvement, cost reduction. product development or import Not applicable substitution

(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)- Not applicable

(a) the details of technology imported Not applicable

(b) the year of import: Not applicable

(c) whether the technology been fully absorbed Not applicable

(d) if not fully absorbed, areas where absorption has Not applicable not taken place, and the reasons thereof

(iv) the expenditure incurred on Research and Not applicable Development

(c) Foreign exchange earnings and Outgo

During the year, the total foreign exchange earned in terms of actual inflows was nil during the year and the foreign exchange outgo during the year was nil in terms of actual outflows.

CORPORATE GOVERNANCE REPORT

Your company is committed to the tenets of good Corporate Governance and has taken adequate steps to ensure that the requirements of Corporate Governance as laid down in Clause 49 of the Listing Agreement are complied with.

A separate report on Corporate Governance and a management Discussion and Analysis Report are being published as a part of the Annual Report of the Company is annexed as Annexure 2.

The Auditors of the Company have certified that conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement are complied by the Company and their Certificate is annexed to the Report on Corporate Governance as Annexure 3.

CORPORATE SOCIAL RESPONSIBILITIES (CSR)

Your Company has not made any Contribution under CSR policy as company is not required to make the contribution pursuant to the provisions of section 135 and schedule VII of the Companies Act. 2013

VIGIL MECHANISM

Free fraud and corruption free work has been core to the company. In view of the potential risk of fraud and corruption due to rapid growth and geographical spread of operations, the company has put an even greater emphasis to address the risk. To meet this objective, a comprehensive fraud risk management policy akin to vigil mechanism or the whistle blower policy has been laid down.

LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

The Company has not made any investment through not more than two layers of Investment Companies.

During the year under review, the Company has not give any loan, give any guarantee or provide any security in connection with loan to any body corporate or any person.

RELATED PARTY TRANSACTIONS

All the related party transactions are entered on arm length basis and are in compliance with the applicable provisions of the Act and the Listing Agreement. There are no Materially significant related party transactions made b the Company with Promoters. Directors and Key managerial Personnel etc. which may have the potential conflict with the interest of the company at large.

The details of the transactions with Related Party are provided in the accompanying financial statements.

DETAILS OF SUBSIDIARY/JOINT VENTURE/ ASSOC 1ATE COMPANIES

There are no Companies which have become or ceased to be Subsidiary/ Joint Venture and/ or Associate Companies of the Company.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND/OR TRIBUNAL

During the year under review, there is was no order passed by Regulators. Courts and/or Tribunal which may impacting the going concern status and Company's Operations in future.

EXTRACT OF ANNUAL RETURN

Extract of the Annual Return of the Company is annexed herewith as Annex tire 4 to this Report.

INFORMATION REQUIRED UNDER CLAUSE 49 OF THE LISTING AGREEMENT WITH RESPECT TO THE DIRECTORS RETIRING BY ROTATION AND SEEKING REAPPOINTEMN 17 DIRECTOR SOUGHT TO BE APPOINTED IS AS UNDER:

Particulars Mr. Ashok Kumar Mrs Ritu Saxena

Date of Birth 13/05/1979 23/05/1974

Nationality Indian Indian

Date of Appointment on the Board 01/09/2012 31/03/2015

Qualifications Graduate Graduate

Expertise in specific functional areas

Directorship held in other Companies * NIL NIL

Membership/ Chairmanship of Committees of other public Companies (include only Audit NIL NIL Committee and Shareholders/ Investor Grievance Committee)

Number of shares held in the NIL NIL Company)

* Directorship includes Directorship of other Indian Public Companies and Committee membership includes only Audit Committee and Stake holders" Relationship Committee of Public Limited Company (whether Listed or not)

PREVENTION OF SEXUAL HARASSMENT

As required by the Sexual Harassment of Women at workplace (Prevention. Prohibition & Redressal) Act. 2013, the Company has formulated and implemented a policy on prevention of sexual harassment at workplace with a mechanism of lodging complaints. During the year under review, no complaints were reported to the Board.

ACKNOWLEDGEMENT

Your Directors place on record their appreciation for employees at all levels, who have contributed to the growth and performance of your Company.

Your Directors also thank the clients, vendors, bankers, shareholders and advisers of the Company for their continued support.

Your Directors also thank the Central and State Governments, and other statutory authorities for their continued support.

By order of the Board

for Mahanivesh (India) Limited

A. K. Singh

Place: New Delhi Chairman

Dated: 30th July, 2015


Mar 31, 2014

The directors have pleasure to report on the TWENTIETH ANNUAL REPORT for the year ended 31st March, 2014.

(Figures in Rupees)

FINANCIAL RESULTS Current Year Previous Year

2014 2013

Gross Revenue 8,08,038 28,26,193

Net Profit before Income-tax 50,474 4,78,396

Less: Provision for Income-tax 7,950 47,840

Net Profit after Taxes 42,524 4,30556

Your company has registered a Net Revenue of Rs.8.08 Lacs as compared to Rs.28.26 Lacs during the previous year. Net Profit before tax amounted to Rs.50,474 compared to Rs 4 78 Lacs. Profit after tax for the year is Rs. 42,524 as compared to Rs.4.30 Lacs during the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

Your company has been doing well. The return on investments is lower due to recession You directors are hopeful that the profitability will improve in the coming years.

DIVIDENDS:

Your directors do not recommend any dividends for the year under review.

DEPOSITS:

During the year under report, the company has not accepted any deposits from the public, and hence, there is no overdue deposit as on 31st March, 2014

FINANCE:

Your company did not issue any shares during the year under review.

DIRECTORS

Shri Sarjeet Kumar retires by rotation and offers himself for re-appointment.

PARTICULARS OF EMPLOYEES:

The Company has no employee during the year in respect of which the statement pursuant to section 217(2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975 is required to be annexed.

AUDITORS

Auditors retire at the close of the Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS UNDER SECTION 217m(el OF THE COMPANIES ACT. 1956

a. Conservation of energy : Not Applicable

b. Technology absorption : Not Applicable

c. Foreign exchange earnings and outgo : NIL

DIRECTORS* RESPONSIBILITY STATEMENT:

As per Section 217(2 AA) of the Companies Act, 1956, the Board of Directors state:

a) That in preparation of annual accounts, applicable accounting standards has been followed.

b) That the directors have selected such accounting policies and applied them consistently and made judgment 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 Net Profits of the Company for the year under report.

c) That director 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 assets of the Company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the accounts for the financial year ended 31st March, 2014 as a "going concern" basis.

CORPORATE GOVERNANCE REPORT

As required by Clause 49 of the Listing Agreement, Corporate Governance Report is attached as Annexure "A" to this report. Certificate of Auditors regarding compliance of the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement of the Stock Exchange is also attached and forms part of Annexure "A".

ACKNOWLEDGEMENTS <

Your directors acknowledge the valuable support by the shareholders of the Company vendors, investors, bankers, consultants and advisors throughout the year Your directors place on record their appreciation to employees for their hard work, dedication and commitment to the company.

By order of the Board For Mahanivesh (India) Limited

Place: New Delhi A.K.Singh

Dated: 15th May, 2014 Chairman


Mar 31, 2013

The Members of MAHANIVESH (INDIA) LIMITED

The directors have pleasure to report on the NINETEENTH ANNUAL REPORT for the year ended 31sl March, 2013.

FINANCIAL RESULTS:

Current Year Previous Year 2012-2013 2011-2012

Gross Income 48,83,26,193 51,16,64,485

Net Profit for the Profit 4,30,556 8,91,565

Transferred to General Reserve 4,30,556 8,91,565

Your company has registered a Gross Revenue of Rs.48.83 Crcres as compared to Rs.51.16 Crores during the previous year. Net Profit after tax for the year is Rs. 4.30 Lac as compared to Rs.8.91 Lacs during the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

Your company has been doing well. The return on investments is lower due to recession. You directors are hopeful that the profitability will improve in the coming years.

DIVIDENDS:

Your directors do not recommend any dividends for the year under review.

DEPOSITS:

During the year under report, the company has not accepted any deposits from the public, and hence, there is no overdue deposit as on 31st March, 2013

FINANCE:

Your company did not issue any shares during the year under review.

DIRECTORS

Shri A.K. Singh retires by rotation and offers himself for re-aapointment.

PARTICULARS OF EMPLOYEES:

The Company has no employee during the year in respect of which the statement pursuant to section 21.7(2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975 is required to be annexed.

AUDITORS

Auditors retire at the close of the Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS UNDER SECTION 217(l)(e) OF THE COMPANIES ACT, 1956

a. Conservation of energy: Not Applicable

b. Technology absorption: Not Applicable

c. Foreign exchange earnings and outgo: NIL

DIRECTORS'' RESPONSIBILITY STATEMENT:

As per Section 2I7(2AA) of the Companies Act, 1956, the Board of Directors slate:

a) That in preparation of annual accounts, applicable accounting standards has been followed.

b) That the directors have selected such accounting policies and applied them consistently and made judgment 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 Net Profits of the Company for the year under report.

c) That director 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 assets of the Company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the accounts for the financial year ended 31st March, 2013 as a "going concern" basis.

CORPORATE GOVERNANCE REPORT

As required by Clause 49 of the Listing Agreement, Corporate Governance Report is attached as Annexure "A" to this report. Certificate of Auditors regarding compliance of the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement of the Stock Exchange is also attached and forms part of Annexure "A".

ACKNOWLEDGEMENTS:

Your directors acknowledge the valuable support by the shareholders of the Company, vendors, investors, bankers, consultants and advisors throughout the year. Your directors place on record their appreciation to employees for their hard work, dedication and commitment to the company.

By order of the Board

For Mahanivesh (India) Limited

Place: New Delhi A. K. Singh

Dated: 15th May, 2013 Chairman


Mar 31, 2012

To The Members of MAHANIVESH (INDIA) LIMITED

The directors have pleasure to report on the EIGHTEENTH ANNUAL REPORT for the year ended 31st March, 2012.

FINANCIAL RESULTS: Current Year Previous Year 2011-2012 2010-2011

Gross Income 51,16,64,485 45,62,60,611

Net Profit for the Profit 891,565 9,26,129

Transferred to General Reserve 891,565 9,26,129

Your company has registered a Gross Income of Rs. 51.16 Crores as compared to Rs. 45.62 Crores during the previous year. Net Profit after tax for the year is Rs. 8.91 Lac as compared to Rs. 9.26 Lacs during the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

Your company has been doing well. The return on investments is lower due to recession. Your directors are hopeful that the profitability will improve. You directors are hopeful that the profitability will improve in the coming years.

DIVIDENDS:

Your directors do not recommend any dividends for the year under review.

DEPOSITS:

During the year under report, the company has not accepted any deposits from the public, and hence, there is no overdue deposit as on 31st March, 2012

FINANCE:

Your company did not issued any shares during the year under review.

DIRECTORS

Your directors continue to provide their services to the Company. Shri Jitender Kumar retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself, for re-appointment.

PARTICULARS OF EMPLOYEES:

The Company has no employee during the year in respect of which the statement pursuant to section 217(2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975 is required to be annexed.

AUDITORS

Auditors retire at the close of the Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS UNDER SECTION 217(1)(e) OF THE COMPANIES ACT. 1956

a. Conservation of energy: Not Applicable

b. Technology absorption: Not Applicable

c. Foreign exchange earnings and outgo: NIL

DIRECTORS' RESPONSIBILITY STATEMENT:

As per Section 217(2AA) of the Companies Act, 1956, the Board of Directors state:

a) That in preparation of annual accounts, applicable accounting standards has been followed.

b) That the directors have selected such accounting policies and applied them consistently and made judgment 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 Net Profits of the Company for the year under report.

c) That director 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 assets of the Company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the accounts for the financial year ended 31st March, 2012 as a "going concern" basis.

CORPORATE GOVERNANCE REPORT

As required by Clause 49 of the Listing Agreement. Corporate Governance Report is attached as Annexure "A" to this report. Certificate of Auditors regarding compliance of the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement of the Stock Exchange is also attached and forms part of Annexure "A".

ACKNOWLEDGEMENTS:

Your directors acknowledge the valuable support by the shareholders of the Company, vendors, investors, bankers, consultants and advisors throughout the year. Your directors place on record their appreciation to employees for their hard work, dedication and commitment to the company.

By order of the Board For Mahanivesh (India) Limited

A. K. Singh Chairman

Place: New Delhi Dated: 15th May, 2012


Mar 31, 2010

The directors have pleasure to report on the SIXTEENTH ANNUAL REPORT for the year ended 31st March, 2010.

FINANCIAL RESULTS: Current Year Previous Year

2009-2010 2008-2009

Gross Income 41,24,25,330 1,06,17,77,955

Net Profit for the Profit 8,32,444 7,96,894

Transferred to General Reserve 8,32,444 7,96,894

Your company has registered a Gross Income of Rs.42.24 crores as compared to Rs.106.17 crores during the previous year. Net Profit after tax for the year is Rs.8.32 Lac as compared to Rs.7.97 Lacs during the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

Your company has been doing well. The return on investments is lower due to recession. Your directors are hopeful that the profitability will improve. You directors are hopeful that the profitability will improve in the coming years.

DIVIDENDS:

Your directors do not recommend any dividends for the year under review.

DEPOSITS:

During the year under report, the company has not accepted any deposits from the public, and hence, there is no overdue deposit as on 31st March, 2010

FINANCE:

Your company did not issued any shares during the year under review.

DIRECTORS

Your directors continue to provide their services to the Company. Shri Rajesh Prasad, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself, for re-appointment.

PARTICULARS OF EMPLOYEES:

The Company has no employee during the year in respect of which the statement pursuant to section 217(2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975 is required to be annexed.

AUDITORS

Auditors retire at the close of the Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS UNDER SECTION 217Q)(e) OF THE COMPANIES ACT, 1956

a. Conservation of energy : Not Applicable

b. Technology absorption : Not Applicable

c. Foreign exchange earnings and outgo : NIL

DIRECTORS RESPONSIBILITY STATEMENT:

As per Section 217(2AA) of the Companies Act, 1956, the Board of Directors state:

a) That in preparation of annual accounts, applicable accounting standards has been followed.

b) That the directors have selected such accounting policies and applied them consistently and made judgment 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 Net Profits of the Company for the year under report.

c) That director 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 assets of the Company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the accounts for the financial year ended 31st March, 2010 as a "going concern" basis.

CORPORATE GOVERNANCE REPORT

As required by Clause 49 of the Listing Agreement, Corporate Governance Report is attached as Annexure "A" to this report. Certificate of Auditors regarding compliance of the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement of the Stock Exchange is also attached and forms part of Annexure "A".

ACKNOWLEDGEMENTS:

Your directors acknowledge the valuable support by the shareholders of the Company, vendors, investors, bankers, consultants and advisors throughout the year. Your directors place on record their appreciation to employees for their hard work, dedication and commitment to the company.

By order of the Board

For Mahanivesh (India) Limited

Sd/- Place: New Delhi A. K. Singh

Dated: 30th June, 2010 Chairman






Mar 31, 2009

The directors have pleasure to report on the FIFTEENTH ANNUAL REPORT for the year ended 31st March, 2009.

FINANCIAL RESULTS: Current Year Previous Year

2008-2009 2007-2008

Gross Income 1,06,17,77,955 1,52,25,13,174 Net Profit for the Profit 7,96,894 33,91,347 Transferred to General Reserve 7,96,894 33,91,347

Your company has registered a Gross Income of Rs.106.17 crores as compared to Rs. 152.25 crores during the previous year. Net Profit after tax for the year stood at Rs.7.96 Lac as compared to Rs.33.91 Lacs during the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

Your company has been doing well. The return on investments were lower due to world- wide recession. Your directors are hopeful that the recession will be overcome soon and with economy will revive. Advances have been made towards various investments which the directors are hopeful of getting good return.

DIVIDENDS:

In view of meager profits, your directors have decided not to recommend dividends for the year under review.

DEPOSITS:

During the year under report, the company has not accepted any deposits from the public, and hence, there is no overdue deposit as on 31st March, 2009

FINANCE:

Your company did not issued any shares during the year under review.

DIRECTORS

Your directors continue to provide their services to the Company. Shri A. K. Singh, retires by rotation at the forthcoming Annual General Meeting and being eligible, offers himself, for re-appointment.

PARTICULARS OF EMPLOYEES:

The Company has no employee during the year in respect of which the statement pursuant to section 217(2A) of the Companies Act, 1956 and the Companies (Particulars of Employees) Rules, 1975 is required to be annexed.

AUDITORS

Auditors retire at the close of the Annual General Meeting and being eligible offer themselves for re-appointment.

DISCLOSURE OF PARTICULARS UNDER SECTION 217(l)(e) OF THE COMPANIES ACT, 1956

a. Conservation of energy: Not Applicable

b. Technology absorption: Not Applicable

c. Foreign exchange earnings and outgo: NIL

DIRECTORS RESPONSIBILITY STATEMENT:

As per Section 217(2AA) of the Companies Act, 1956, the Board of Directors state:

a) That in preparation of annual accounts, applicable accounting standards has been followed.

b) That the directors have selected such accounting policies and applied them consistently and made judgment 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 Net Profits of the Company for the year under report.

c) That director 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 assets of the Company and for preventing and detecting fraud and other irregularities.

d) That the Directors have prepared the accounts for the financial year ended 31s March, 2008 as a "going concern" basis.

CORPORATE GOVERNANCE REPORT

As required by Clause 49 of the Listing Agreement, Corporate Governance Report is attached as Annexure "A" to this report. Certificate of Auditors regarding compliance of the conditions of Corporate Governance as stipulated in Clause 49 of the Listing Agreement of the Stock Exchange is also attached and forms part of Annexure "A".

ACKNOWLEDGEMENTS:

Your directors acknowledge the valuable support by the shareholders of the Company, vendors, investors, bankers, consultants and advisors throughout the year. Your directors place on record their appreciation to employees for their hard work, dedication and commitment to the company.

By order of the Board For Mahanivesh (India) Limited Sd/- Place: New Delhi A. K. Singh Dated: 30th April, 2009 Chairman

 
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