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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