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Directors Report of Mirch Technologies Ltd. Company
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Directors Report of Mirch Technologies Ltd.

Mar 31, 2014

Dear members,

The Directors Hereby Present The 41st Annual Report And Audited Statement Of Accounts For The Year Ended 31st March 2014,

FINANCIAL RESULTS 31.3.2014 31.3.2013 (Amount In (Amount in Rs.) Rs.)

Income from Operations 3,57,920 41,609

Expenditure 23,86,580 30,78,852

Deprecation 8,11,647 2,593,206

Provision for Income Tax 82,78,336

Deferred Tax Liabilities 525,170 (1,19,50,694)

Profit/(Loss) from (2,95,74,293) continuing operation (3,440,843)

OPERATION

The Company is not having its own fabrication workshop.

Directors tries to get orders but to execute the same from outside workshop was not cost effective.

DIVIDEND

Your directors do not recommend any dividend during the year. DIRECTORS

Mr. Sadashiv Salian, the Director of the company retires by rotation ai the ensuing Annual General Meeting and being eligible offer himself for re-appointment

PARTICULARS OF EMPLOYEES

As the company had no employee during the year drawing salary more than stipulated by section 217(2A), no information is annexed as to be provided as per the provisions of Section 217(2A) of the Companies Act 1956, read with the Companies (Particulars of employees) Rule, 1975.

CONVERSION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO.

PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:-

1) Part A and B pertaining to conservation and technology absorption are application to the company for the year under review.

2) Foreign exchange earnings and outgo: The company has neither used nor earned any foreign exchange during the period under review.

DIRECTORS'' RESPONSIBILITY STATEMENT

As per the terms of Section 217(2AA) of the Companies Act, 1956, your Directors would like to assure the members that the financial statements for the year under review confirm in their entirety lo the requirements of the Companies Act, 1966.

The Directors confirm that:

a) The Annual Accounts have been prepared in conformity with the applicable Accounting Standards;

b) The Accounting Policies selected and applied on a consistent basis, give a true and fair view of the affair of the Company and of the loss for the finance year;

c) Sufficient care has been taken that adequate accounting records have been maintained for safeguarding the assets of the Company; and for prevention and detection of fraud and other irregularities;

d) The Annual Accounts have been prepared on a going concern basis.

CORPORATE GOVERNANCE

The Company is not required to have Corporate Governance report during the year under review. The Company is however aware of the feet of applicability of Clause 49 of the Listing Agreement post 30th September, 2014.

SECRETARIAL COMPLIANCE REPORT

Pursuant to the provisions of Section 383A of the Companies Act, . 1956, read with the Compliance Certificate) Rule, 2001 a Secretarial Compliance Report from M/s. Arun Dash & Associates, Practicing Company Secretaries is attached herewith and forming part of this Directors'' Report.

AUDITORS

M/s. U. S. TANWAR & Co, Chartered Accountants, auditors of the company retire on the conclusion of the ensuing Annual General Meeting and are eligible for appointment. Members are requested to appoint them as Auditors of the company and fix their remuneration.

By Order of the Board of Directors For Mirch Technologies Limited

Sd/-

Place; Mumbai Shivkumar Ladha Dated: 04.09.2014 Chairman


Mar 31, 2012

To, The Member of M/S Mirch Technologies Limited

The Directors Hereby Present The 30th Annual Report And Audited Statement Of Accounts For The Year Ended 31st March 2012.

FINANCIAL RESULTS 31.3.2012 31.3.2011 (Amount in Rs.) (Amount in Rs.)

Income from Operations 7,93,689 11,70,451

Expenditure 23,83,796 15,21,637

Deprecation 85,917 1,606

Provision for Income Tax NIL NIL

Deferred Tax Liabilities 30,222

Net Profit after Tax 17,05,866 (3,52,792)

Balance b/f. (2,43,50,626) (2,39,97,834)

Total (2,60,56,492) (2,43,50,626)

OPERATION

The Company is not having its own fabrication workshop. Directors tries to get orders but to execute the same from outside workshop was not cost effective.

DIVIDEND

Your directors do not recommend any dividend during the year,

DIRECTORS

Re-appointment of Director by rotation - Shri S. K. Ladha, the Director of the company retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for re-appointment.

Appointment of new Director- Post March 31, 2012, Shri Sadashiv Salian has been appointed as an Additional Director of the Company with effect from August 4, 2012. In terms of Section 260 of the Companies Act, 1956. Shri Sadashiv Salian holds office up to ensuing Annual General meeting of the company and being eligible officer himself for appointment as the Director of the Company.

Resignation of Director- Post March 31,2012, Shri An tar Sengupta, the Additional Director resigned from the Directorship of the Company with effect from August 4, 2012. The Board expresses its appreciation for the valuable services rendered and matured advice provided by Shri Antar Sengupta during his association with the company,

PARTICULARS OF EMPLOYEES

As the company had no employee during the year drawing salary more than stipulated by section 217(2A), no information is annexed as to be provided as per the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of employees) Rule, 1975.

CONVERSION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO. PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988a

1) Part A and B pertaining to conservation and technology absorption are application to the company for the year under review.

2) Foreign exchange earnings and outgo; The company has neither used nor earned any foreign exchange during the period under review.

DIRECTORS' RESPONSILIBITY STATEMENT

As per the terms of Section 217(2AA) of the Companies Act, 1956, your Directors would like to assure the members that the financial statements for the year under review confirm in their entirety to the requirements of the Companies Act, 1956. The Directors confirm that:

a) The Annual Accounts have been prepared in conformity with the applicable Accounting Standards;

b) The Accounting Policies selected and applied on a consistent basis, give a true and fair view of the affairs of the Company and of the loss for the financial year;

c) Sufficient care has been taken that adequate accounting records have been maintained for safeguarding the assets of the Company; and for prevention and detection of fraud and other irregularities;

d) The Annual Accounts have been prepared on a going concern basis.

CORPORATE GOVERNENCE

The Company is not required to have Corporate Governence report during the year under review.

SECRETARIAL COMPLIANCE REPORT

Pursuant to the provisions of Section 383A of the Companies Act; 1956, read with the Compliance Certificate) Rule, 2001 a Secretarial Compliance Report from a Practising Secretary is attached herewith and forming part of this Directors' Report.

AUDITORS

M/s. U. S. TAN WAR & Co.. Chartered Accountants, auditors of the company retire on the conclusion of the ensuing Annual General Meeting and are eligible for appointment. Members are requested to appoint them as Auditors of the company and fix their remuneration.

On Behalf of the Board of Director

S. K. Ladha

Place Mumbai Chairman

Dated: 29th August, 2012


Mar 31, 2011

The Directors present herewith Thirty Eighth Annual Report together with the Audited Accounts of the Company for the year ended 31sl March, 2011.

FINANCIAL RESULTS:

The working results of the Company for She year under review are as under:

Particulars

(Rs. In lacs) (Rs. In lacs)

2010-2011 2009-2010

Turnover/other income 11.70 25.65

Net Profit/(Loss) for the year (3.52) 5.45

OPERATION:

The Company is not having its own fabrication workshop. Directors tried to get orders but to execute the same from outside workshop was not cost effective.

DIVIDEND:

Your Directors have not recommended any dividend on equity shares for the year under review.

DIRECTORS:

Shri K. S. Ladha retires by rotation at the Annual Genera! Meeting and being eligible offers himself for re-appointment.

DIRECTORS' RESPONSIBILITY STATEMENT:-

As required under Section 217 of the Companies Act, 1956, the Directors hereby confirm that:

(i) in the preparation of the accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(ii) 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 or Loss of the Company for that period;

(iii) 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 to the best of their knowledge and ability;

(iv) The Directors have prepared the annual accounts on a 'going concern' basis.

PARTICULARS OF EMPLOYEES:

The provisions of Section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 are not applicable as no employee was in receipt of remuneration in excess of the limits set out under the said section.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:

(1) Pari: A and B pertaining to conservation and technology absorption are not applicable to the Company for the year under review.

(2) Foreign Exchange earnings and outgo: The Company has neither used nor earned any foreign exchange during the period under review.

CORPORATE GOVERNANCE:

The company is not required to have Corporate Governance report during the year under review. SECRETARIAL COMPLIANCE REPORT:

Pursuant to the provisions of section 383A of the Companies Act, 1956, read with the Companies (Compliance Certificate) Rule, 2001 a Secretarial Compliance Report from a practicing Company Secretary is attached herewith and forming part of this Directors' Report.

AUDITORS AND AUDITORS' REPORT:

M/s. K. R. Manik & Co. Chartered Accountants, Statutory Auditors of the Company, hold office until the conclusion of the ensuring Annual General Meeting.

M/s. K. R. Manik & Co. Chartered Accountants have been recommended for the appointment of Statutory Auditors. The Company has received a letter from them to effect that their appointment if made, would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the Companies Act, 1956.

Notes referred to in the Auditors' report are self-explanatory. A

FOR AND ON BEHALF OF THE BOARD

S. K. LADHA

CHAIRMAN

Mumbai

Date: September 1, 2011


Mar 31, 2010

The Directors present herewith Thirty Seventh Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2010.

FINANCIAL RESULTS:

The working results of the Company for the year under review are as under:

(Rs. In lacs) (Rs. In lacs)

Particulars 2009-2010 2008-2009

Turn over other income 25.65 12.31

Net Profit (Loss)for the year 5.45 6.76

OPERATION:

The Company is not having its own fabrication workshop. Directors tried to get orders but to execute the same from outside workshop was not cost effective.

DIVIDEND:

Your Directors have not recommended any dividend on equity shares for the year under review.

DIRECTORS:

Shri S. K Ladha retires by rotation at the Annual General Meeting and being eligible offers himself for re-appointment.

DIRECTORS' RESPONSIBILITY STATEMENT:-

As required under Section 217 of the Companies Act. 1956, the Directors hereby confirm that:

(i) in the preparation of the accounts, the applicable accounting standards have been followed along with proper explanation relating to material! departures;

(ii) 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 or I loss of the Company for that period;

(III) The Directors have taken proper and sufficient care for tire 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 to the best of their knowledge and ability;

(iv) The Directors have prepared the annual accounts on a 'going concern1 basis.

PARTICULARS OF EMPLOYEES:

The provisions of Section 217(2A) of the Companies Act, 1956, read with Companies (Particulars of Employees) Rules, 1975 are not applicable as no employee was in receipt of remuneration in excess of the limits set out under the said section.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: PARTICULARS REQUIRED TO BE FURNISHED BY THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988:

(1) Part A and B pertaining to conservation and technology absorption are not applicable to the Company for the year under review.

(2) Foreign Exchange earnings and outgo: The Company has neither used nor earned any foreign exchange during the period under review.

CORPORATE GOVERNANCE:

The company is not required to have Corporate Governance report during the year under review.

SECRETARIAL COMPLIANCE REPORT:

Pursuant to the provisions of section 383A of the Companies Act, 1956, read with the Companies (Compliance Certificate) Rule, 2001 a Secretarial Compliance Report from a practicing Company Secretary is attached herewith and forming part of this Directors' Report.

AUDITORS AND AUDITORS' REPORT:

M/s. K. R. Manik & Co. Chartered Accountants, Statutory Auditors of the Company, hold office until the conclusion of the ensuring Annual General Meeting.

M/s. K. R. Manik & Co. Chartered Accountants have been recommended for the appointment of Statutory Auditors. The Company has received a letter from them to effect that their appointment if made, would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that they are not disqualified for such appointment within the meaning of Section 226 of the Companies Act, 1956.

Notes referred to in the Auditors' report are self-explanatory.

FOR AND OM BEHALF OF THE BOARD

S.K.LADHA

CHAIRMAN

Mumbai Date: September 1,2010

 
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