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Directors Report of Mideast Portfolio Management Ltd.

Mar 31, 2014

Dear Members,

The Directors have pleasure in presenting the 23rd Annual Report of your company together with the Audited Accounts for the year ended 31st March 2014.

OPERATIONS:-

The Company has achieved a turnover of Rs.113.12 Lacs during the current year as against Rs.13.58 lacs of previous year . During the current year Company has earned profit of Rs. 0.19 Lacs as against loss of Rs.19.21 Lacs in the previous financial year.

During the year, the Company has sold Wind mill projects at Tamilnadu and closed down Wind power generation segment.

DIVIDEND:-

Your Directors regret their inability to recommend any dividend for the year under review. DIRECTORS:-

As per Section 149(4) of Companies Act, 2013 every listed company shall have half of the total number of directors as independent directors. They shall hold office for a term upto five consecutive years on the Board of the Company as per section 149(10).

As per Section 152 (6) (e) total number of directors shall not include independent directors. Mr. Harish Kotian, Mr. Vicent Mascerenhas and Mr. Urvish Shah have offered for election as Independent Director.

Out of remaining 4 directors 1 are executive directors and 3 are Non Executive director.

DEPOSITS:-

The Company has not accepted and/or renewed any public deposit during the year review. DIRECTOR''S RESPONSIBILITY STATEMENT:-

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000 the Directors confirm:-

i. that in the preparation of the annual accounts for the year ended on 31st March 2014, the applicable accounting standards have been followed;

ii. that the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the period and of the profit of the Company for that period 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 year ending 31st March, 2014 on a going concern'' basis.

CONSERVATION OF ENERGY:-

The Company is engaged in the business of trading and dealings in shares and securities and consequently various disclosures required u/s 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of the Directors) Rules, 1988 are not applicable to this Company.

FOREIGN EXCHANGE EARNINGS & OUTGO:-

During the year under review - Earnings - Nil

- Outgo - Nil

AUDITORS:-

Members are requested to appoint Auditors for the current year and to authorize the Board of Directors to fix their remuneration. At previous meeting, M/ s. Mehta Chokshi & Shah., Chartered Accountant, was appointed as Statutory Auditors of your Company from the conclusion of the previous Annual General Meeting. The said Statutory Auditors retire at the ensuing Annual General Meeting and being eligible under section 139 of the Companies Act, 2013, offer themselves for re- appointment

AUDITORS OBSRVATIONS:

There is no sufficient profit or cash flow to the company. The caompny has taken approval from share holders for waiving of preference dividend and extension of maturity of preference shares.

Investment in the shares of listed company are under suspension, so loss on investments can not be booked at present level.

PERSONNEL:-

Information as per section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is not given as there was no employee earning monthly salary as specified in aforesaid Section or more during the year.

CORPORATE GOVERNANCE

The Company has complied with the requirements regarding Corporate Governance as required under Clause 49 of the Listing Agreement entered into with the Stock Exchanges, where the Company''s shares are listed. A report on the Corporate Governance in this regard is made a part of this Annual Report and a Certificate from the Auditors of the Company regarding compliance of the conditions of the Corporate Governance is attached to this report.

COMPLIANCE CERTIFICATE:-

We enclose herewith compliance certificate u/ s 383A of the Companies Act, 1956.

ACKNOWLEDGEMENT:-

Your Directors wish to express their gratitude to the officials of the financial institutions, Stock Exchanges, company''s bankers and shareholders who have extended their valuable support to the Company. Directors are also grateful to the staff and employees of the Company for their devotion and relentless services.

For and on behalf of the Board of Directors

Kishor A. Shah (Managing Director)

Place : Mumbai Date : 27th May, 2014


Mar 31, 2010

The Directors have pleasure in presenting the 19th Annual Report of your company together with the Audited Accounts for the year ended 31st March 2010.

OPERATIONS:-

During the period, the Company has suffered loss from the operation of the Company.

DIVIDEND:-

Your Directors regret their inability to recommend any dividend for the year under review.

DIRECTORS:-

During the year, Mr. Harish Kotian retires by rotation but being eligible himself for re-appointment. During the year, Mrs. Jyoti K. Shah retires by rotation but being eligible herself for re-appointment.

DEPOSITS:-

The Company has not accepted and/or renewed any public deposit during the year review. DIRECTORS RESPONSIBILITY STATEMENT:-

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000 the Directors confirm:-

i. that in the preparation of the annual accounts for the year ended on 31st March 2010,

the applicable accounting standards have been followed;

ii. that the Directors have selected such accounting policies and applied them

consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the period and of the profit of the Company for that period 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 year ending 31st March, 2010 on a going concern basis.

CONSERVATION OF ENERGY:-

The Company is engaged in the business of trading and dealings in shares and securities and consequently various disclosures required u/s 217(l)(e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of the Directors) Rules, 1988 are not applicable to this Company.

FOREIGN EXCHANGE EARNINGS & OUTGO:-

During the year under review - Earnings - Nil

- Outgo - Nil

AUDITORS:-

M/S. Mehta Chokshi & Shah, Chartered Accountants who are the Auditors of the Company hold the Office till the conclusion of ensuring Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received consent from the Auditors pursuant to Section 224 of the Companies Act, 1956.

PERSONNEL:-

Information as per section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is not given as there was no employee earning monthly salary as specified in aforesaid Section or more during the year.

CORPORATE GOVERNANCE :-

The Company has complied with the requirements regarding Corporate Governance as required under Clause 49 of the Listing Agreement entered into with the Stock Exchanges, where the Companys shares are listed. A report on the Corporate Governance in this regard is made a part of this Annual Report and a Certificate from the Auditors of the Company regarding compliance of the conditions of the Corporate Governance is attached to this report.

COMPLIANCE CERTIFICATE :-

We enclose herewith compliance certificate U/S383 A of the Companies Act, 1956.

ACKNOWLEDCEMENT:-

Your Directors wish to express their gratitude to the officials of the financial institutions, Stock Exchanges, companys bankers and shareholders who have extended their valuable support to the Company. Directors are also grateful to the staff and employees of the Company for their devotion and relentless services.

For and on behalf of the Board of Directors

Kishor A. Shah

(Chairman & Managing Director)

Place : Mumbai

Date : 12th August, 2010




Jun 30, 2009

The Directors have pleasure in presenting the 18* Annual Report of your company together with the Audited Accounts for the Period ended 30 June 2009.

OPERATIONS:-

During the period, the Company has suffered loss from the operation of the Company.

DIVIDEND:-

Your Directors regret their inability to recommend any dividend for the year under review.

DIRECTORS:-

During the year, Mr. Pratap Chudasama retires by rotation but being eligible himself for re- appointment. During the year, Mr. Dilip Shah retires by rotation but being eligible himself for re- appointment.

DEPOS1TS:-

The Company has not accepted and/or renewed any public deposit during the year review. DIRECTORS RESPONSIBILITY STATEMENT:-

Pursuant to Section 217(2AA) of the Companies (Amendment) Act, 2000 the Directors confirm:-

i. that in the preparation of the annual accounts for the period ended on 30th June 2009, the applicable accounting standards have been followed;

ii. that the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the period and of the profit of the Company for that period 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 period ending 30th June, 2008 on a going concern basis.

CONSERVATION OF ENERGY:-

The Company is engaged in the business of trading and dealings in shares and securities and consequently various disclosures required u/s 217(lXe) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Report of the Directors) Rules, 1988 are not applicable to this Company.

FOREIGN EXCHANGE EARNINGS & OUTGO:-

During the year under review - Earnings - Nil

Outgo - Nil

AUDITORS:-

M/S. Mehta Chokshi & Shah, Chartered Accountants who are the Auditors of the Company hold the Office till the conclusion of ensuring Annual General Meeting and being eligible offer themselves for re-appointment. The Company has received consent from the Auditors pursuant to Section 224 of the Companies Act, 1956.

PERSONNEL:-

Information as per section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is not given as there was no employee earning monthly salary as specified in aforesaid Section or more during the year.

CORPORATE GOVERNANCE :-

The Company has complied with the requirements regarding Corporate Governance as required under Clause 49 of the Listing Agreement entered into with the Stock Exchanges, where the Companys shares are listed. A report on the Corporate Governance in this regard is made a part of this Annual Report and a Certificate from the Auditors of the Company regarding compliance of the conditions of the Corporate Governance is attached to this report.

COMPLIANCE CERTIFICATE :-

We enclose herewith compliance certificate U/S383 A of the Companies Act, 1956.

ACKNOWLEDGEMENT:-

Your Directors wish to express their gratitude to the officials of the financial institutions, Stock Exchanges, companys bankers and shareholders who have extended their valuable support to the Company. Directors are also grateful to the staff and employees of the Company for their devotion and relentless services.

For and on behalf of the Board of Directors Kishor A. Shah (Chairman & Managing Director)

Place : Mumbai Date : 16th November, 2009

 
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