Home  »  Company  »  Modi Udyog  »  Quotes  »  Directors Report
Enter the first few characters of Company and click 'Go'

Directors Report of Modi Udyog Ltd.

Mar 31, 2014

THE MEMBERS OF

MODI UDYOG LIMITED

The Directors have the pleasure to present their 32nd Annual Report together with Audited Statement of Accounts and Auditor''s Report of the Company for the financial year ended 31st March, 2014

OPERATION AND FINANCIAL RESULT

Your Directors report that the working of the Company for the year under review has resulted in a Profit of Rs. 1,83,619/-(after tax).

DIVIDEND

In view of nominal profit during the year & for better prospective & expansion, your Directors do not propose any dividend.

APPOINTMENT OF DIRECTORS

In accordance with the Articles of Association of the Company and the provisions of the Companies Act, 1956, the Directors of the Company are eligible for retirement by rotation.

APPOINTMENT OF AUDITORS

M/s. Prakash Patwari & Company, Chartered Accountants (FRN :- 325639E) who are not disqualified u/s 141 of the Companies Act, 2013 and has expressed their eligibility to accept office if re-appointed, be and are hereby appointed, as the Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of 41st Annual General Meeting of the Company to be held in the year 2023 (Subject to ratification of their appointment at every AGM), at such remuneration plus service tax, as may be mutually agreed upon between the Board of Directors of the Company and the Auditors."

INCREASE OF PAID UP CAPITAL

The paid up capital of the company has been increased from Rs. 2,400,000 to Rs. 302,400,000 during the year through preferential issue at a price of Rs 10/- per share.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGOINGS:

The necessary information U/s 217(1)(e) of the Companies Act, 1956 as required by the Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 for Conservation of Energy, technology absorption and Foreign Exchange Earnings & Outgoings are not applicable to the Company.

RESEARCH AND DEVELOPMENT:

NIL

AUDITORS REPORT

As regards the observations in the Auditor''s Report the explanations given in the Notes to the Accounts are self- explanatory.

PARTICULARS OF EMPLOYEES:

Particulars of employees as required U/s 217(2A) of the Companies Act, 1956 as amended, are not applicable to the Company.

DIRECTORS RESPONSIBILITY STATEMENT:

Your directors hereby report:

a) The accounting standards were followed in the preparation of annual accounts of the year under-review.

b) That the Directors have selected such accounting policies and applied them consistently & made judgments and estimates that are reasonable and prudent so as to give a true & fair view of the state of affairs of the Company as at 31st March, 2014 and of Profit & Loss for the year ended on that date.

c) That proper and sufficient care has been taken 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 / detecting fraud & other irregularities.

d) That annual accounts have been prepared on a going concern basis.

SECRETARIAL COMPLIANCE CERTIFICATE

Secretarial compliance certificate pursuant to section 383A of the Companies (Amendment) Act, 2000 is attached herewith as Annexure.

ACKNOWLEDGEMENT

Your Directors wish to acknowledge the continued faith and confidence reposed by the shareholders in the company.

By Order Of the Board Place: Kolkata For Modi Udyog Ltd Dated: 28.05.2014

S/d Mayank Daga CHAIRMAN


Mar 31, 2013

THE MEMBERS

MODI UDYOG LIMITED

The Directors have pleasure to submit their Annual Report together with Audited Accounts and Auditor''s Report of the Company for the financial year ended 31st March, 2013.

OPERATION AND FINANCIAL RESULT

The performance of the company for the financial year ended 31st, March, 2013:

PARTICULARS 2012-13 2011-12

Revenue from Operations 55245 66500

Other Income -- --

Total Income 55245 66500

Less: Total Expenses 54045 9100

Profit before Depreciation, Interest & Tax 1200 (24600)

Less: Interest -- --

Depreciation -- --

Profit before Tax 1200 (24600)

Less: Provision for Current Tax 371 --

Profit after Tax 829 (24600)

Less: Income Tax for earlier years -- --

Add: Profit brought forward from (734242) (709642) Previous year

Profit available for appropriation (733413) (734242)

Proposed Dividend on Equity Shares -- --

Corporate Tax on Dividend -- --

Balance carried to Balance Sheet (733413) (734242)

RESULT OF OPERATIONS:

Your Directors report that the working of the Company for the year under review has resulted in a Profit of RS.829/- (after tax).

DIVIDEND

In view of nominal profit during the year & for better prospective & expansion, your Directors do not propose any dividend.

APPOINTMENT OF DIRECTORS

In accordance with the Articles of Association of the Company and the provisions of the Companies Act, 1956, the Directors of the Company are eligible for retirement by rotation.

APPOINTMENT OF AUDITORS

M/s.L.N.Todi & Co., statutory auditors of the Company retiring at the forthcoming Annual General Meeting of the company had tendered their resignation and hence they do not offer themselves for re- appointment as the statutory auditors of the company. M/s. Prakash Patwari & Co are desired to be appointed as Statutory Auditor of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGOINGS:

The necessary information U/s 217(1)(e) of the Companies Act, 1956 as required by the Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 for Conservation of Energy, technology absorption and Foreign Exchange Earnings & Outgoings are not applicable to the Company.

RESEARCH AND DEVELOPMENT: NIL

AUDITORS REPORT

As regards the observations in the Auditor''s Report the explanations given in the Notes to the Accounts are self- explanatory.

PARTICULARS OF EMPLOYEES:

Particulars of employees as required U/s 217(2A) of the Companies Act, 1956 as amended, are not applicable to the Company.

DIRECTORS RESPONSIBILITY STATEMENT:

Your directors hereby report:

a) The accounting standards were followed in the preparation of annual accounts of the year under- review.

b) That the Directors have selected such accounting policies and applied them consistently & made judgments and estimates that are reasonable and prudent so as to give a true & fair view of the state of affairs of the Company as at 31st March, 2013 and of Profit & Loss for the year ended on that date.

c) That proper and sufficient care has been taken 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 / detecting fraud & other irregularities.

d) That annual accounts have been prepared on a going concern basis.

SECRETARIAL COMPLIANCE CERTIFICATE

Secretarial compliance certificate pursuant to section 383A of the Companies (Amendment) Act, 2000 is attached herewith as Annexure.

ACKNOWLEDGEMENT

Your Directors wish to acknowledge the continued faith and confidence reposed by the shareholders in the company.

By Order of the Board of Directors For Modi Udyog Ltd

Sd/- Rama Kanta Barik Chairman

Place: Kolkata Date: 4th September, 2013 Registered Office: 3, Mango Lane, 4th Floor, Kolkata – 700 001


Mar 31, 2012

Dear Members,

The Directors have the pleasure in presenting Annual Report together with audited accounts for the year ended 31st March 2012

1 FINANCIAL RESULTS :

Year ended Particulars 3/31/2012 (Rs)

Profit/(loss) before tax (24 600)

Profit/(loss) after tax (24600)

Balance Brought forward from previous year (709 642)

Profit/(loss) after tax carried to Balance Sheet (734,242)

2 DIVIDEND :

In view of accumulated losses at the end of the financial year, the Directors do not recommended any dividend.

3 DIRECTOR'S RESPONSIBILITY STATEMFNT -

As required under Section 217(2AA) your directors confirm that:

a) In the preparation of the annual accounts, the applicable accounting standards have been been followed.

b) The Directors had selected such accounting policies and applied them consistently and made judgements and estimates that are responsible and prudent so to give a true and fair view of the state of affairs of the Company as at 31st March, 2012 and of the Profit of the Company for the year ended 31st March, 2012

c) 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.

d) The Directors have prepared the annual accounts on going concern basis.

4 AUDITORS AND AUDITORS REPORT: :

The Auditors' report is self-explanatory and need no clarifications.M/s. L.N.TODI & CO. Chartered Accountants, First Auditors of the Company will retire at the conclusion of the ensuing Annual General Meeting and being eligible offers themselves for reappointment. The company has received a certificate from the Auditor to the effect that their reappointment, if made would be in accordance with Section 224 (1B) of the Companies Act, 1956. The Board recommends their re-appointment.

5 CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS AND OUTGO:

There is nothing to comment on conservation of energy and technology absorption. There was no foreign exchange earnings and out go.

6 PARTICULARS OF EMPLOYEE U/S. 217/2A1 OF THE COMPANIES ACT.1956. *

There are no employee drawing salary as specified in section 217(2A) of the Companies Act, 1956

7 SUBSIDIARY :

The Company does not have any subsidiary.

8 PUBLIC DEPOSIT:

The Company has not accepted any public deposits.

9 COMPLIANCE CERTIFICATE:

The provision of section 383A of the Companies Act, 1956 is attached and forms part of this report.

For MODI UDYOG LIMITED ON BEHALF OF THE BOARD

Place: Kolkata. Date : 13/08/2012 (Director) (Director)




Mar 31, 2011

Dear Members,

The Directors have the pleasure to presenting before you the 27th Annual Report together with audited accounts for the year ended 31st March 2011

1 FINANCIAL RESULTS :

Year ended Year ended Particulars 31/03/2011 31/03/2010 Rs Rs

PROFIT/(LOSS) BEFORE TAX (l-ll) (51,186) (21,609)

PROFIT/(LOSS) AFTER TAX (51,186) (21,609)

Balance Brought forward from Previous (658,456) (636,847) Year

PROFITZ(LOSS) AFTER TAX carried to (709,642) (658,456) Balance Sheet

2 DIVIDEND:

The Directors do not recommended any dividend.

3 DIRECTOR''S RESPONSIBILITY STATEMENT :

As required under Section 217(2AA) your directors confirm that:

a) In the preparation of the annual accounts, the applicable accounting standards have been been followed.

b) The Directors had selected such accounting policies and applied them consistently and made judgements and estimates that are responsible and prudent so to give a true and fair view of the state of affairs of the Company as at 31st March, 2011 and of the loss of the company for the year ended 31st March 2011

c) 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.

d) The Directors have prepared the annual accounts on going concern basis,

4 AUDITORS AND AUDITORS REPORT:

The Auditors* report is self-explanatory and need no clarifications. M/S.L.N.TODI & CO. Chartered Accountants, Auditors of the Company will retire at the conclusion of the ensuing Annual General Meeting and being eligible offers themselves for reappointment.

5 CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS AND OUTGO :

There is nothing to comment on conservation of energy and technology absorption. There was no foreign exchange earnings and out go.

6 PARTICULARS OF EMPLOYEE U/S. 217(2A) OF THE COMPANIES ACT.1956.:

There are no employee drawing salary as specified in section 217(2A) of the Companies Act,1956

7 SUBSIDIARY:

The Company does not have any subsidiary.

8 PUBLIC DEPOSIT:

The Company has not accepted any public deposits.

9 COMPLIANCE CERTIFICATE:

Pursuant to the provision to Section 383 A(1) of the companies Act 1956 a copy of certificate prescribed under the companies (compliance certificate) Rules,2002 issued by Dhruba Charan Sahoo.Company Secretary is attached with this report.

ON BEHALF OF THE BOARD

Place : Kolkata. Mukesh Ramauala Basik Dated: 01.09.2011 DIRECTOR DIRECTOR

 
Subscribe now to get personal finance updates in your inbox!