Mar 31, 2014
Dear members,
The Directors presenting the 29th Annual Report with the Audited
Accounts of the Company for the year ended March 31, 2014.
Financial Results
The financial Results are briefly indicated below
YEAR ENDED
Particulars 31st March 31st March
2014 2013
Sales and Other Income - -
Total Income - -
Total Expenditure 847918 562676
Profit/(Loss) for the year (847918) (562676)
The financials for the financial year 2013-14 is as follows:-
Dividend
The Directors regret their inability to recommend any dividend for the
year.
DIRECTORS
During the year following changes were made in the Board of the Company
Mr.Dipankar Mondal, who retires by Rotation at the Annual General
Meeting and being eligible, offers himself for re-appointment as a
Non-Executive Independent Director of the company for a consecutive
period of five (5) years on the board of the company as Non-Executive
Independent directors effective from 29th September, 2014.
Mr. Gautam Kumar Das, who retires by Rotation at the Annual General
Meeting and being eligible, offers himself for re-appointment as a
Non-Executive Independent Director of the company for a consecutive
period of five (5) years on the board of the company as Non-Executive
Independent directors effective from 29th September, 2014.
Mr. Dipak Mallick has been appointed as an executive director of the
company
DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies Act, 1956 the Board of
Directors hereby confirms:
i. That in the preparation of the Annual Accounts, the applicable
accounting standards have 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
Profits of the Company for that period.
iii. That the Directors have taken proper and sufficient care for the
maintenances 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.
iv. That the Directors have prepared the Annual accounts on a going
concern basis.
CORPORATE GOVERNANCE
Separate Reports on the Corporate Governance and Management Discussion
& Analysis are included in the Annual Report and Certificate of the
Auditors of your Company confirming the compliance of conditions of
Corporate Governance is also annexed thereto.
PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be
given pursuant to Section 217 (2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Amendment Rules, 1999 as
amended up-to-date.
Auditors
M/s. E Gathani & Associates, Chartered Accountants, Kolkata, Statutory
Auditors of the company hold office until the conclusion of the
forthcoming Annual General Meeting and have signified their willingness
to be re-appointed and have further confirmed that their appointment if
made shall be within the limits specified under Section 224 (1B) of the
Companies Act, 1956.
Auditor Report
Comments of the Auditors in their report and the notes forming part of
the accounts are self-explanatory and need no comments.
Listing
The Equity Shares of the company are listed on Bombay Stock Exchange
Limited. The Company has paid the applicable listing fees to BSE up to
date.
Public Deposits
Your Company has not accepted any Public Deposits within the meaning of
the provisions of the Section 58A of the Companies Act, 1956 read with
the Companies (Acceptance of Deposit) Rules, 1975 and there is no
outstanding deposit due for re-payment.
Conversation of Energy, Technology absorption and foreign exchange
earnings and outgo:
During the period under review the Company has not carried out any
manufacturing activities, the requirements pertaining to Conversation
of Energy, research and development and technology absorption, as
prescribed under the Companies (Disclosures of Particulars in the
Report of the Board of Directors) Rules, 1988 are not applicable.
There were no foreign exchange earnings and outgo during the year.
By Order of the Board
Sd/-
Deepak Mallick
Director
Place: Mumbai
Date: August 27, 2014
Mar 31, 2011
To The Members of Matra Realty Limited
The Directors present herewith their 26th Annual Report of your
company together with the Audited Accounts for the year ended 31st March
2011.
FINANCIAL HIGHLIGHTS (In Rupees)
Particulars For the year ended For the year ended
31st March, 2011 31st March, 2010
Income from - -
operation
Other Income - 821417
Expenditure 365038 550503
Profit before
Interest
and Deprecation (365038) 270914
Depreciation 165607 168531
Less: Prior Period
Adjustments - 35777
Add: Tax adjustment
of earlier years - 424224
Profit before
Taxation (530,644) (286,063)
Provision for
taxation 5,291 464672
Profit/Loss
after Taxes (525,353) (750,735)
Add: Balance
as per last year (3,562,658) (2,811,923)
Balance Carried
Forward to
the Balance Sheet (4,088,012) (3,562,658)
DIVIDEND
Looking to the heavy accumulated losses suffered by the Company, in the
previous years, it is not possible for the Board to recommend any
dividend for the year under review.
CORPORATE GOVERNANCE
A separate section titled "Corporate Governance" including a
certificate from the Company Secretary in practice compliance of the
conditions of Corporate Governance as stipulated under clause 49 of the
Listing Agreement is annexed thereto and forms part of the Report.
DIRECTORS
Shri Satyajeet Mishra was appointed as Additional Director w.e.f.
08.10.2010 in terms of Section 260 of the Companies Act, 1956. He holds
the office as Director upto the date of the forthcoming Annual General
Meeting. The Company has received a notice u/s 257 from a member of the
company proposing his appointment as a Director at the forth coming
Annual General Meeting.
Shri Subhash Agrawal was appointed as Additional Director w.e.f.
14.05.2011 in terms of Section 260 of the Companies Act, 1956. He holds
the office as Director upto the date of the forthcoming Annual General
Meeting. The
Company has received a notice u/s 257 from a member of the company
proposing his appointment as a Director at
the forth coming Annual General Meeting.
Smt Sarita Agrawal was appointed as Additional Director w.e.f. 14.05.2011
in terms of Section 260 of the Companies Act, 1956. She holds the office
as Director upto the date of the forthcoming Annual General Meeting.
The Company has received a notice u/s 257 from a member of the company
proposing her appointment as a Director at the forth coming Annual
General Meeting.
Shri Ravi Kumar Jain was appointed as Additional Director w.e.f.
30.06.2011 in terms of Section 260 of the Companies Act, 1956. He holds
the office as Director upto the date of the forthcoming Annual General
Meeting. The Company has received a notice u/s 257 from a member of the
company proposing his appointment as a Director at the forth coming
Annual General Meeting.
Shri Santosh Kumar Pandey resigned as the Director of the company
w.e.f. 08/10/2010.
Shri Vishram Sawant, Vljaykumar Gopala Pillai and Shri Renjith Kurup
resigned as Director of the Company w.e.f. 14.02.2011.
Shri Nadeem Mohammed sheikh resigned as the Director of the company
w.e.f. 31 /10/2011.
ShriAnupam Sanghvi and Shri Suneet Gandhi were appointed as Additional
Director w.e.f. 14.02.2011 in terms of Section 260 of the Companies
Act, 1956and resigned as Director of the Company w.e.f. 05.12.2011.
DIRECTORS' RESPONSIBILITY STATEMENT
In accordance with the provisions of section of 217(2AA) of the
Companies Act, 1956, your directors state that:
a) In the preparation of accounts, the applicable accounting standards
have been followed.
b) Accounting policies selected were applied consistently. Reasonable
and prudent judgments and estimates were made so as to give a true and
fair view of the state of affairs of the company as at the end of March 31,
2011 and the profit of the company for the year ended on that date.
c) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of
Companies Act, 1956 for safeguarding the assets of the company and for
preventing and detecting frauds and other irregularities.
d) The accounts have been prepared on a going concern basis.
PARTICULARS OF THE EMPLOYEES
As required under section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of the Employees) Rules 1975, are not
applicable since, none of the employee of the company is drawing more
than Rs. 60,00,000/- p.a. or Rs.5,00,000/- p.m. for the part of the
year, during the year under review.
AUDITORS AND THEIR REPORT
Comments of the Auditors in their report and the notes forming part of
the accounts are self-explanatory and need no comments. M/s Tushar
Parekh, Chartered Accountants, the Statutory Auditors has to vacate
their office at the conclusion of the ensuing Annual General Meeting
and are eligible for re-appointment. The Company has received a
certificate from the Auditors to the effect that their re-appointment,
if made, would be in accordance with the provisions of section 224(1)
of the Companies Act, 1956.
LISTING
The Equity Shares of the company are listed on Bombay Stock Exchange
Limited. The Company has paid the applicable listing fee to BSE
up-to-date.
PUBLIC DEPOSITS
Your Company has not accepted any public deposit within the meaning of
provisions of section 58A of the Companies Act, 1956 read with the
Companies (Acceptance of Deposit) Rules, 1975 and there is no
outstanding deposit due for re-payment.
CONSERVATION OF ENERGY, TECHNOLOGYABSORPDON, AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
During the period under review the Company has not carried out any
manufacturing activities, the requirements pertaining to conservation
of energy, research and development and technology absorption, as
prescribed under the Companies (Disclosure of Particulars in the Report
of the Board of Directors) Rules, 1988 are not applicable.
There were no foreign exchange earnings and outgo during the year.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Business Outlook
The Company is currently engaged in real estate activity and is looking
for new avenues of Business in various areas like trading in bullions
and other related activity. The Board is planning for the expansion of
the business & exploration of new business opportunities in the
industry and to enter in the new spheres of the business.
Risk and Concerns
The Company is exposed to risks from market fluctuation of interest
rate and stock market fluctuation of the share prices.
Internal Control Systems and Their adequacy
Your Company has appropriate internal control systems relating to its
areas of operations. The internal control systems lay emphasis in
financial reporting and compliance with applicable rules and
regulations.
Discussion on Financial Performance with respect to Operational
performance
The operating performance of the Company has been discussed under the
head 'Financial Highlights in the current year.
Material Developments in Human Resources
Since the Company is currently engaged in trading activity therefore
minimum staff and workers have been retained in Company to oversee the
day to day operations. The Company cares for its personnel and
considers as their assets.
ACKNOWLEDGEMENTS
The Directors appreciates the employees for their dedication and
commitment that they put towards the growth of the company. Your
Directors are especially grateful to its Bankers, all investors for
their continued support and confidence reposed in the company.
By order of the Board of Directors
Place: Mumbai
Dated:December5,2011 (Subhash Agrawal) (Sarita Agrawal)
DIRECTOR DIRECTOR
Mar 31, 2010
Dear Members,
The Directors have pleasure in presenting their 25th Annual Report on
the business and operation of the company and Financial accounts for
the year ended 31st March, 2010.
SUMMARISED FINANCIAL RESULTS:
(Rs.)
Year ended Year ended
31.3.2010 31.3.2009
Income from Operation - -
Other Income 821,417 691,878
Expenditure 550.503 111,802,069
Profit/(Loss) Before tax (286,063) (11,307,665)
Profit/(Loss) After Taxes (750,735) (11,080,097)
THE YEAR UNDER REVIEW
Due to change in political scenario and alternative choices of the
occupants of the SRA project and considering the profitability, future
litigation and execution problem the company decided to assign and
transfer at cost to cot basis the redevelopment project to other Realty
developers.
FUTURE OUTLOOK
The Board feels that the Future of India lies with the Infrastructure
Development of the country to develop India. Considering the Growth of
the Company and taking into account the available opportunities in the
Infrastructure Business, the Board has recommended to venture into new
Infrastructure projects.
ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE:
As required under section 217(1)(e) of the Companies Act, 1956 read
with the companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 the relevant information pertaining to
conservation of energy, technology absorption, foreign exchange
earnings and outgo are as follows:
A) CONSERVATION OF ENERGY: The Company continues its policy of
encouraging energy conservation measures. The regular review of energy
consumption arid the systems installed to control utilization of energy
is undertaken.
RESERCH reliability and quality through in-house R&D efforts.
B) TECHNOLOGY ABSORPTION: The Company nas not imported any technology
C) FOREIGH EXCHANGE EARNINGS & OUTGO:
2009-2010 2008-2009
(Rs. Lacs) (Rs. Lacs)
a. Foreign Exchange Used Nil Nil
b. Foreign Exchange Earned Nil Nil
DIRECTORS
Mr. Santoshkumar Pandey who retire by rotation and being eligible
offered himself for re-appointment.
DIVIDEND
Considering the profitability of the Company, your Board has not
recommended any dividend for the year ended 31st March 2010.
AUDITORS' REPORT
Relevant notes on accounts are self-explanatory and are as per Annexure
to the Auditors' Report.
PERSONNEL
The Company has not paid any remuneration attracting the provisions
(Particulars of Employees) Rules, 1975 read along with section 217(2A)
of the Companies Act, 1956. Hence no information is required to be
appended to this report in this regard.
AUDITORS
The company has received a letter from the present auditor M/s. Tushar
Parekh & Associates.- Chartered Accountants, Mumbai to the effect that
their appointment, if made , would be within the prescribed limits
under section 224(1-B) of the Companies Act 1956 Your Director
recommend their re-appointment.
HUMAN RESOURCES
Your Directors would like to place on record their deep appreciation of
all employees for rendering quality services to every constituent of
the company.
ACKNOWLEDGEMENTS
Your Directors convey their sincere thanks to the Government, Banks,
BSE, SEBI, Shareholders and customers for their continued support
extended to the company at all times.
The Directors further express their deep appreciation to all employees
for commendable teamwork, high degree of professionalism and
enthusiastic effort displayed by them during the year
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 217(2AA) of the Companies
Act, 1956, with respect to Directors' Responsibility Statement, it is
hereby confirmed:
(i) That in the preparation of the accounts for the financial year
ended 31st March, 2009, the applicable accounting standards have been
followed along with proper explanation relating to materiai 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 and loss of the Company for the year under review;
(iii) That the Directors have taken proper and sufficient care for the
maintenance of adequate account ting 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 2009 on a 'going concern' basis.
On behalf of the Board of Directors.
Director Director
Place: Mumbai
Dated: 2nd August, 2010